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<br /> I <br /> I City of Arden Hills AElX) <br /> April 12 I 1996 ~ <br /> Page Three <br /> I . CERTIFIED Pl'RUC An Xll "'.:,''\TS <br /> ANDC,"<SlILTA'lT;: <br /> I 0 The City is vulnerable to legislative actions at the State and Federal <br /> level. Recent years have seen the State continually adjusting the local <br /> government aid and property tax credit formulas. An adequate fund balance <br /> I will provide a temporary buffer against those aid adjustments. <br /> 0 Expenditures not anticipated at the time the annual budget was adopted may <br /> need immediate council action. These would include capital outlay <br /> I replacement, lawsuits and other items_ An adequate fund balance will <br /> provide the financing needed for such expenditures. <br /> 0 A strong fund balance will assist the City in maintaining or improving its <br /> I bond rating. <br /> A summary of the 1995 operations is as follows: <br /> variance - <br /> I Favorable <br /> Budqet Actual <Unfavorable ) <br /> Revenue $2 181 603 $2 148 744 $ (32 859) <br /> I Expenditures 1 957 997 ~ 91~ 715 46 282 <br /> Excess of Revenue (Expenditures) 223 606 237 029 13 423 <br /> Operating transfers in 7 475 7 475 <br /> . . Operating transfers out (199 945) (238 850) (38 905) <br /> Excess of Revenue Over (Under) <br /> Expenditures and Other Uses $ 23 661 5 654 $(18 007) <br /> I <br /> Fund Balance, January 1 481 221 <br /> Fund Equity Transfer In 28 <br /> I Fund Balance, December 31 $ 486 903 <br /> A further detailed comparison of revenue and expenditures both graphically and <br /> I as a table are as follows: <br /> Percent Increase <br /> of (Decrease) <br /> . Revenue Source 1995 Total ~994 From 1994 <br /> General Property Taxes $~ 489 708 69.09%" $1 556 835 $ (67 127) <br /> Intergovernmental 273 844 12.70 262 141 1~ 703 <br /> I Licenses and Permits 253 729 11.77 185 660 68 069 <br /> Charges for Services 28 000 1.30 30 356 (2 356) <br /> Fines and forfeits 29 617 1.37 25 5~8 4 099 <br /> Interest 20 935 0.97 5 083 15 852 <br /> I Other Revenue 52 911 2.45 49 181 3 730 <br /> Transfers in 7 475 0.35 7 475 <br /> Total $2 156 219 ~OO.OO%" $2 114 774 S 4~ 445 <br /> I <br /> I . <br /> I <br />