|
Table 8. Callippe Preserve Golf Course Operating Fund—Amended Budget vs. Actual
<br /> Year-end
<br /> Amended Recommended.
<br /> Callippe Preserve Operating Fund Budget Actual $Variance Actual
<br /> Beginning Fund Balance $115,390 $115,390 $0 $115,390
<br /> Plus Revenues 4,169,522 3,681,341 (488,181) 3,681,341
<br /> Less Net Transfers (208,000) (211,939) (3,939) (211,939)
<br /> Less Expenditures (3,620,221) (3,401,120) 219,101 (3,401,120)
<br /> Net Income 456,691 183,672 (273,019) 183,672
<br /> Less Transfer to General Fund (341,301) (112,000) $229,301 ($112,000)
<br /> Ending Fund Balance',j $11.5,390 '$71,672 ($43,718) $74,672
<br /> Storm Drain Fund
<br /> As shown in Table 9 below, The Storm Drain Operating Fund ended the year with a
<br /> fund balance of$0.9 million which is $0.07 million less than anticipated in the Amended
<br /> Budget. The primary reason for this variance was that expenditures were greater than
<br /> anticipated to cover a construction contract that was greater than anticipated in the FY
<br /> 2016/17 mid-year budget. The General Fund budget includes a transfer-out of$330,000
<br /> to the Storm Drain Fund.
<br /> Table 9. Storm Drain Fund —Amended Budget vs. Actual
<br /> Year,-end
<br /> a a t Amended iRecorruriended
<br /> Storm Drain Budget 1 Actual $''Variance ACtual
<br /> Beginning Fund Balance $1,267,328 $1,267,328 $0 $1,267,328
<br /> Plus Revenues 691,520 880,779 189,259 880,779
<br /> Transfers I n/(Out) 67,700 67,700 0 67,700
<br /> Less Expenditures (1,026,283) (1,288,823) ($262,540) (1,294,046)
<br /> Ending Fund Balance 1,000,265 926,984 (73,281) 921,761
<br /> 'Change-in Fundr'Ba�lance re ., ($267,063)' '40$340,34`4)1 C �(S73 281'x) z. (,$345,567)
<br /> Internal Service Funds
<br /> Internal Service Funds account for the financing of goods or services provided by a
<br /> department to other departments on a cost-reimbursement basis. Three examples of
<br /> this are the Retirees Medical Reserve Fund, the Repair and Replacement Fund and the
<br /> Self Insurance Fund. These funds not only account for current year expenditures but
<br /> also long term liabilities of the City. These liabilities may not result in actual
<br /> expenditures in the short term, but will result in future expenditures for the future
<br /> Page 9 of 12
<br />
|