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the General Fund unassigned balance did not comply with the minimum balance requirement of 35%. It is my
<br />recommendation to Council to keep the surplus in the General Fund until the fund balance policy can be updated to
<br />reflect a new formula for calculating excess fund balance.
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<br />The table of General Fund activity provides a two-year comparison as well as a budget to actual comparison for 2016.
<br />Total revenue increased by 4.4% while expenditures increased by 1.9%. Explanations follow the table.
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<br />General Fund 2015
<br />Actual Budget Actual Variance Percent Dollars
<br />Revenues:
<br />Property taxes 6,931,549$ 7,192,000$ 7,110,816$ (81,184)$ 2.6%179,267$
<br />Franchise taxes 850,840 1,272,200 1,129,176 (143,024) 32.7%278,336
<br />Licenses & permits 1,066,742 624,100 862,200 238,100 -19.2%(204,542)
<br />Intergovernmental 1,498,022 1,495,600 1,588,302 92,702 6.0%90,280
<br />Charges for service 2,935,050 3,206,200 3,176,081 (30,119) 8.2%241,031
<br />Fines & forfeits 80,322 73,000 76,626 3,626 -4.6%(3,696)
<br />Interest on investments 42,546 81,000 96,518 15,518 126.9%53,972
<br />Fair value of investments (10,819) - (25,705) (25,705) 137.6%(14,886)
<br />Rents 317,186 290,600 276,256 (14,344) -12.9%(40,930)
<br />Miscellaneous Revenue 7,707 5,600 45,550 39,950 491.0%37,843
<br />Contributions & donations 43,938 10,000 37,631 27,631 -14.4%(6,307)
<br /> Total revenues 13,763,083 14,250,300 14,373,451 123,151 4.4%610,368
<br />Expenditures:
<br />General government
<br />Administration 737,429 756,100 750,215 5,885 1.7%12,786
<br />Elections 37,888 87,700 95,965 (8,265) 153.3%58,077
<br />Legal 138,277 127,500 168,570 (41,070) 21.9%30,293
<br />Central services 182,115 169,600 184,099 (14,499) 1.1%1,984
<br />Finance 502,302 526,000 515,608 10,392 2.6%13,306
<br />License bureau 159,822 270,800 207,698 63,102 30.0%47,876
<br />Community development
<br />Community development 744,354 774,600 726,298 48,302 -2.4%(18,056)
<br />Recycling 239,274 243,300 238,502 4,798 -0.3%(772)
<br />Parks & recreation
<br />Parks 972,319 1,038,600 1,033,759 4,841 6.3%61,440
<br />Forestry 186,898 210,000 193,144 16,856 3.3%6,246
<br />Recreation programs 647,680 687,700 659,877 27,823 1.9%12,197
<br />Community center 1,267,323 1,379,900 1,284,909 94,991 1.4%17,586
<br />Public safety
<br />Police 4,668,523 4,691,700 4,709,029 (17,329) 0.9%40,506
<br />Fire 868,081 913,400 877,991 35,409 1.1%9,910
<br />Public works
<br />Engineering 355,991 403,800 326,467 77,333 -8.3%(29,524)
<br />Streets 298,826 316,000 278,524 37,476 -6.8%(20,302)
<br />Garage 535,735 553,000 530,650 22,350 -0.9%(5,085)
<br /> Total expenditures 12,542,837 13,149,700 12,781,305 368,395 1.9%238,468 -
<br />Transfers in 27,256 33,500 33,500 -
<br />Transfers out (1,162,419) (1,405,700) (1,405,700) -
<br />Sale of assets 450 - 375 375
<br />Change in fund balance 85,533 (271,600)$ 220,321 491,921$
<br />Beginning fund balance 6,442,801 6,528,334
<br />Ending fund balance 6,528,334$ 6,748,655$
<br />2016 Change from 2015
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