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<br />Pavement management fund activity resulted in an increase of $108,414 to the net positon compared to a planned
<br />increase of $120,200. This unfavorable decrease is the result of the capital outlay not shown as an actual expense in the
<br />table and the unbudgeted depreciation expense.
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<br />• The transfer in of $50,000 was received from the capital projects fund.
<br />• The transfer out of $42,329 was to the 2016 street reconstruction project.
<br />• No capital costs were expended in 2016. Budgeted projects not constructed were new park trails.
<br />• Ending cash balance is $1,088,546.
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<br />Pavement Management Fund 2015
<br />Actual Budget Actual Variance Percent Dollars
<br />Operating revenues:
<br />Customer charges 108,600$ 112,700$ 112,700$ -$ 3.8%4,100$
<br />Operating expenses:
<br />Professional services - - - - --
<br />Depreciation 21,506 - 21,506 (21,506) 0.0%-
<br />Total operating expenses 21,506 - 21,506 (21,506) 0.0%-
<br />Operating income (loss)87,094 112,700 91,194 (21,506) 4.7%4,100
<br />Nonoperating activity
<br />Interest on investments 5,801 - 13,891 13,891
<br />Change in fair value of investments (1,626) - (4,342) (4,342)
<br />Miscellaneous revenue - 7,500 - (7,500)
<br />Capital outlay - (50,000) - 50,000
<br />Transer in 50,000 50,000 50,000 -
<br />Transfer out - - (42,329) (42,329)
<br />Total nonoperating activity 54,175 7,500 17,220 9,720
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<br />Change in net position 141,269 120,200$ 108,414 (11,786)$
<br />Beginning net position 1,369,117 1,510,386
<br />Ending net position 1,510,386$ 1,618,800$
<br />2016 Change from 2015
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