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<br /> . <br /> ~ <br /> CITY OF 1lRDEN HILLS <br />. MEJDlANOOM <br /> DATE: August 12, 1992 <br /> TO: Mayor, counci1""""hP.rs, and catherine J. Iago <br /> nn1@ Terry Post, city Accountant <br /> SllIloJD:T : J\1l.y Financial Reports/n........"tary <br /> Enclosed find the following Financial and Investment schedules for your <br /> review: <br /> 1- General FUnd (101) Budget SUmll'ary <br /> 2. Budget SUmll'ary (All FUnds) <br /> 3. July 31, 1992 Investment Portfolio <br /> 4. Investment Portfolio Analysis <br /> CXl'1MENI'ARY <br /> GENERAL FUND <br /> . No operating transfers from 101 budgeted. Per 12/31/91 Abdo, <br /> Abdo & Eick audit report, $25.779 required to fund 12/31/91 <br />. negative fund balances in Shade Tree #224 ($6,763) and Program <br /> #226 ($19,016) funds. <br /> . Projected revenue shortfall of $93,000 in the following areas: <br /> Delin:luent Taxes ($55,000); HACA ($13,000); Fiscal Disparities <br /> ($7,000); Penalties & Interest ($1,000); On Sale Liquor Licenses <br /> (7,000); Plat Fees & Pennits ($10,000). <br /> Projected revenue overage of $79,000 in the following areas: <br /> CluTent Property Taxes ($27,000); Building Permits ($49,000); <br /> Contractors Licenses ($3,000); General Govt. Fees ($1,000). <br /> These items net to a potential $15.000 General FUnd revenue <br /> shortfall. <br /> . Consideration should be given of how to utilize the $83.812 <br /> transfer from PIR #501 that re:i1nbursed the General FUnd for <br /> ass~ssable 1991 Pavement Management Program costs - restore <br /> the fund balance or earmark for specific 1992 expenditures? <br /> . Deparbnental sperrling patterns indicate the following <br /> expenditure over or underspending areas from budget: <br /> 1. Mayor & Council: Manaqement Fees - Have staff turnover <br /> costs follow former or future employee or <br />. reside in this department? <br />