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10% Reserve for Economic Uncertainties $374,000
<br /> Unassigned Fund Balance 2,426,211
<br /> Repair & Replacement Fund Reserves 500,000
<br /> CIP Reserves 1,208,218
<br /> Total FY 2014/15 Uncommitted Surplus $4,508,429
<br /> BACKGROUND
<br /> Annually staff presents the year-end financial report (Report) to Council for approval. The
<br /> Report summarizes the actual results of the financial activities for the fiscal year and
<br /> details changes in reserves and final budget amendments or adjustments.
<br /> DISCUSSION
<br /> General Fund Revenues. General Fund revenues received (Actual) were greater than
<br /> the Amended Budget by $3,740,190 or 3.73%. Table 2 presents the major revenue
<br /> categories with a comparison of the Amended Budget versus actual revenues and the
<br /> variance to the Amended Budget both in terms of dollars and percentage.
<br /> Table 2. General Fund Revenues —Amended Budget vs. Actual
<br /> Amended
<br /> General Fund Revenues Budget Actual $Variance %Variance
<br /> Property Tax $53,050,000 $53,744,273 $694,273 1.3%
<br /> Sales Tax 22,250,000 22,410,654 160,654 0.7%
<br /> Documentary Transfer Tax 725,000 741,978 16,978 2.3%
<br /> Business License Tax 3,200,000 3,376,592 176,592 5.5%
<br /> Hotel Tax 4,400,000 5,057,080 657,080 14.9%
<br /> Development Services Fees 4,474,200 5,254,713 780,513 17.4%
<br /> 1 Franchise Fees 2,420,000 2,455,508 35,508 ' 1.5%
<br /> Recreation Fees 3,604,923 4,063,001 458,078 12.7%
<br /> Library Revenues 122,400 139,590 17,190 14.0%
<br /> Other Fees 945,250 965,751 20,501 2.2%
<br /> Grants& Intergovernmental 617,130 857,893 240,763 39.0%
<br /> Reimbursements 965,400 1,448,827 483,427 50.1%
<br /> Interest Income 85,000 110,354 25,354 29.8%
<br /> Inter-fund Labor Charges 2,369,582 2,191,365 (178,217) -7.5%
<br /> Other Revenues 1,148,409 1,299,905 151,496 13.2%
<br /> Total $100,377,294 $104,117,484 $3,740,190 3.73%
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