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Actual Variance With <br />Original Budget Final Budget Amounts Final Budget <br />Revenues <br />Taxes – tax increments –$ –$ 2,451$ 2,451$ <br />Earnings on investments 5,600 5,600 5,760 160 <br />Total revenues 5,600 5,600 8,211 2,611 <br /> <br />Expenditures <br />Economic development <br />Current <br />Personal services 70,550 70,550 25,690 44,860 <br />Materials and supplies 650 650 632 18 <br />Other services and charges 66,237 66,237 32,433 33,804 <br />Capital outlay 80,000 80,000 – 80,000 <br />Total expenditures 217,437 217,437 58,755 158,682 <br />Revenues over (under) expenditures (211,837) (211,837) (50,544) 161,293 <br />Other financing sources <br />Transfers in 120,000 255,725 255,727 (2) <br />Net change in fund balances (91,837)$ 43,888$ 205,183 161,295$ <br />Fund balance – beginning 303,058 <br />Fund balance – ending 508,241$ <br />CITY OF ARDEN HILLS <br />Required Supplementary Information <br />Budgetary Comparison Schedule – EDA Operating Fund <br />Year Ended December 31, 2018 <br />-53-