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General Fund Reserve Designations Recommended changes reduce fund balance
<br />by $310,000 as shown in Table 5. This reduction is a combination of the use of the
<br />remaining $200,000 in the Reserve for Carryovers and the change in the 10% Reserve
<br />for Economic Uncertainties. The result in lowering total General Fund revenues to
<br />$89.9 million from the previous estimate of $90.9 million caused the 10% reserve to
<br />change.
<br />Table 5. Summary of Fund Balance Reserve Desi nations General Fund
<br />C D E F G
<br />A
<br />General Fund Fund Balance
<br />Reserve Designations
<br />Reserve for Carryovers
<br />10% Reserve for Economic
<br />Uncertainties
<br />Capital Projects Reserve
<br />Reserve for Golf Debt Service
<br />Temporary Recession Reserv=
<br />Reserve for Inventories
<br />Total
<br />B
<br />Beginning Fund
<br />Balance
<br />2,910,377
<br />9,410,000
<br />3,000,000
<br />2,000,000
<br />7,900,000
<br />67,349
<br />25,287,726
<br />Changes Mid -Year Total 3rd Quarter
<br />Approved in Approved Changes Recommended
<br />Mid -Term Changes to through Mid Changes to
<br />Budget Reserves Year Reserves
<br />(1,400,000)
<br />170,000
<br />(3,000,000)
<br />(4,230,000)
<br />(1,310,377)
<br />(470,000)
<br />3,000,000
<br />1,219,623
<br />200,000
<br />9,110,000
<br />2,000,000
<br />10,900,000
<br />67,349
<br />22, 277,349
<br />(200,000)
<br />(110,000)
<br />(310,000)
<br />Ending
<br />Fund
<br />Balance
<br />9,000,000
<br />2,000,000
<br />10,900,000
<br />67,349
<br />21,967,349
<br />Enterprise Funds Fund Overview
<br />The total recommended net adjustments for all funds in clued revenue increases of
<br />$355,853, increases of $390,652 in transfers and reductions of expenses of $575,370.
<br />Table 6. Summar of 3 Quarter adjustments Enter. rise Funds
<br />Adjustments
<br />To Net
<br />Transfers
<br />Fund
<br />Storm Drain Fund
<br />Golf Course Operations
<br />Cemetery Operations
<br />Senior Transportation Para transit
<br />Water Operations Maintenance
<br />Sewer Operations Maintenance
<br />Total Enterprise Funds
<br />Revenue
<br />Adjustments
<br />(12,498)
<br />(13,000)
<br />900
<br />376,700
<br />2,100
<br />1,651
<br />355,853
<br />390,652
<br />390,652
<br />Expense
<br />Adjustments
<br />1,298
<br />767,352
<br />(1,341,798)
<br />(2,222)
<br />575,370
<br />The $355,853 increase in revenues is primarily due to establishing a new Enterprise
<br />Fund for Para transit and moving the revenues from the General Fund to the Senior
<br />Transportation Para Transit Enterprise Fund. Water revenues increased due to
<br />correcting an error in Inter -fund Charges. Other recommended adjustments to
<br />revenues involve minor changes due to updating interest earnings assumptions. The
<br />only change to Net Transfers involve a transfer of $390,652 from the General Fund for
<br />the difference between revenues and expenses for the new Senior Transportation Para
<br />Transit Enterprise Fund. Recommended adjustments to expenses involve the move of
<br />expenses of $767,352 for the new Senior Transportation Para Transit Enterprise Fund
<br />Page 5 of 6
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