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THE CITY Of <br />Quarterly Financial Report <br />- - =_= ~~~- Operating Budget <br />j~L~ ~S~NT~No Second Quarter of FY 2007-08 <br />as of December 31, 2007 <br />Golf Operating Fund ~' <br />The Golf Operating Fund is at 58.3% of budgeted revenues and 53.6% of expenses. <br />The budget was based on anticipating 70,000 annual rounds and through the first six <br />months Callippe Preserve posted 36,246 rounds which was 93 rounds less than during <br />the same period in the prior year. Based on this year-to-date data, the course remains <br />on track to achieve 70,000 rounds. <br />• - ~ <br />Beg Fund Bal 2,620,442 <br />Revenues 4,136,240 2,411,869 58.3% <br />Oper & Maint Exp -3,471,754 -1,861,719 53.6% <br />Net Income from Operations 664,486 550,150 <br />Transfer Out to Debt Service -1,595,620 -1,081,601 <br />Change in Fund bal -931,134 -531,451 <br />Ending Fund bal 1,689,308 <br />special Revenue Funds <br />Lower Income Housing Fund %T~' <br />The Lower Income Housing Fund is at 45.9% of budgeted revenues and 27.8% of <br />expenditures. There are a number of reasons that expenditures are below the 50% <br />mark. Activity in the Down Payment Assistant Program has been lower in the first half <br />of the fiscal year and is expected to increase during the second half. Also, certain <br />consultant contracts only allow payment once certain milestones are completed. <br />LPFD Fund '~F' <br />The LPFD Fund is at 46.5% of budgeted revenues and 43.7% of expenditures after <br />reflecting first quarter budget reduction adjustments. <br />~~~ Good. Positive Indicator ~'' Caution. Unsettled Indicator ~ Problem. Negative Indicator <br />