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General Fund Reserve Designations -Recommended changes to General Fund
<br />Reserve Designations affect only the Reserve for Carryovers and the 10% Reserve for
<br />Economic Uncertainties. The recommended adjustment to the Reserve for Carryovers
<br />is a net reduction of $1,248,633 which is comprised of the reduction of $2,278,435 for
<br />carryover appropriations which offsets the corresponding increase in budget
<br />appropriations, an increase for carryover for grants of $229,802, and an increase of
<br />$800,000 from 2007-08 contingency to be used in 2008-09. The recommended
<br />adjustment to the 10% Reserve for Economic Uncertainties results in a reduction of
<br />$170,000 due to total revenues being reduced from the original budget. As a result, the
<br />10% reserve will change from the $9.6 million included in the original budget to $9.4
<br />million.
<br />I able ~. Kecommenaea c;n an es to v eneral Tuna rce serve uesi natio ns
<br />.- .- - -
<br />ReserveforCarryovers 3,608,633 (760,000) (1,248,633) 1,600,000
<br />10% Reserve for Economic
<br />Uncertainties 9,260,000 320,000 (170,000) 9,410,000
<br />Capital Projects Reserve 5,000,000 (2,000,000) - 3,000,000
<br />Reserve for Golf Debt Service 2,000,000 - - 2,000,000
<br />Temporary Recession Reserve 6,100,000 - - 6,100,000
<br />Reserve for Inventories 55,143 - - 55,143
<br />Total 26,023,776 (2,440,000) (1,418,633) 22,165,143
<br />Enterprise Funds
<br />Water Operations and Maintenance Fund -Recommended adjustments to revenues
<br />include a reduction of $84,639 which is primarily the net change from the reduction of
<br />interest income ($53,000), an increase due to a damage reimbursement ($19,085) and
<br />a reduction in the amount budgeted for rental of construction meters due to the slow
<br />down in building and construction ($44,000). Recommended adjustments to expenses
<br />include reductions in Replacement Fund accrual ($47,378) and Interfund charges
<br />($19,951)
<br />Sewer Operations and Maintenance Fund - Recommended adjustments to
<br />revenues include an increase of $17,817 which is primarily the net change from the
<br />reduction of interest income ($2,000), and an increase due to a FEMA reimbursement
<br />($19,247). Recommended adjustments to expenses include reductions in Replacement
<br />Fund accrual ($8,516) and Interfund charges ($24,523).
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