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.STA~ LPORT 87:73 <br />Mid-Year Budget Review - 1986-87 Fiscal Year <br />February 17, 1986 <br />Page 2 <br /> <br />The following ks an explanation by major category of the changes <br />in the General Fund Budget as adopted by Council. <br /> <br />Beginning Fund Balance - 7/01/86 <br /> <br />The audited General Fund beginning fund balance as <br />of June 30, 1986 was $1,642,502 greater than estimated at the <br />time the budget was approved. This was due to last year <br />(1985-86) actual expenditures being less than projected by <br />$149,483 and actual --Pevenues (plus net transfers) exceeding <br />projections by $1,493,019. <br /> <br />The additional revenues include $489,600 in Building Department <br />and Assessment District fees that had .been estimated to be <br />collected in 1986-877 but in fact were received by June 30, 1986; <br />$216,500 additional Prop. 4 revenues collected; $374,000 in <br />Engineering and Administrative fees for refunding of assessment <br />districts; $298,500 in additional transfers to the General Fund <br />for overhead and the closing out of old assessment districts; and <br />$114,419 in additional non-Prop. 4 revenues. <br /> <br /> Therefore, the audited beginning fund balance is $8~550,521. <br /> Revenue: <br /> <br /> Based on revised staff estimates, revenues are projected to be <br /> $183,205 less than originally projected. The majority of the <br /> changes are in the following categories of revenues: <br /> <br /> Category Increase (Decrease) <br /> <br /> State Subventions $ 183,610 <br /> Property Taxes 450,000 <br /> Assessment District Fees (295,000) <br /> Interest Income .~- (100,000) <br /> Revenues Collected in 1985-86 (489,600) <br /> Reimbursable Expenditures 26,000 <br /> Charges for Services 5,000 <br /> Plan Check Fees 20,000 <br /> Recreation Fees 10,285 <br /> $(189,705) <br /> <br /> <br />