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<br /> . - . <br /> - <br /> CITY OF ARDl!~ HILLS <br /> - ~ <br /> J:lld'E : August 12, 1992 <br /> TO: Mayor, council""""hers, and catherine J. Iago <br /> mH@ Terry Post, City Aooountant <br /> SUBJECT: July Financial Report5/n......ntary <br /> Enclosed find the following Financial and Invesbnent schedules for your <br /> review: <br /> 1. General Fund (101) Budget SUmmary <br /> 2. Budget SUmmary (All F\mds) <br /> 3. July 31, 1992 Investment Portfolio <br /> 4. Invesbnent Portfolio Analysis <br /> CJ:Io1MEN:rARY <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 /> DeI:i.n:;Iuent Taxes ($55,000); HACA ($13,000); Fiscal Disparities <br /> ($7,000); Penalties & Interest ($1,000); On Sale Liquor Licenses <br /> (7,000); Plat Fees & Permits ($10,000). <br /> Projected revenue overage of $79,000 in the following areas: <br /> CUrrent Property Taxes ($27,000); Building Permits ($49,000) i <br /> Contractors Licenses ($3,000); General Govt. Fees ($1,000). <br /> 'lhese 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:iJnbursed the General Fund for <br /> assessable 1991 Pavement Management Program costs - restore <br /> the fund balance or eannark for specific 1992 expenditures? <br /> . Departmental spending 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 errployee or <br /> . reside in this deparbnent? <br />