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<br /> ...~ <br /> June 1996 Operating Results/Commentary <br /> Page 2 e~~ <br /> 7. Both the Planning & Zoning and Economic Development departments <br /> include an allocation of the Community Development Director's salary. <br /> No such allocation of this salary was made in 1995. <br /> 8. Fire Protection department YTD expenditures include two $84,250 - <br /> contract installment payments to LJVFD whereas YTD 1995 only ~ <br /> included one payment. <br /> - <br /> 9. Street Maintenance department YTD expenditures do not yet include any , <br /> Pavement Management Program allocated costs ($150,000 budgeted) or <br /> capital expenditures ($80,000 budgeted). <br /> 10. Park Maintenance department YTD expenditures already include all I <br /> budgeted capital items ($42,500). <br /> Other Funds: - <br /> 11. After reversing the 12/31195 interest income accrual, January _ June, 1996 <br /> investment interest income was allocated to funds on the basis of average <br /> cash balances. Significant allocations included $13,779 to the Park Fund, - <br /> $21,378 to the Advance Bond Refunding Fund; $100,934 to the PIR Fund <br /> and $32,733 to the Enterprise Funds. e- <br /> 12. Included in YTD PIR Fund revenue is $344,303 from our MSA <br /> Construction Account. This receipt represents the first draw on the 1995 ( <br /> County Road F / Stowe A venue reconstruction projects. <br /> 13. Development / Redevelopment Fund YTD Revenue includes $30,669 in I <br /> tax increment form the Cottage Villas Project. Once Development <br /> Agreement requirements are satisfied from the developer, a substantial . <br /> portion of this increment will be remitted back to the developer. <br /> 14. In general, revenue for the Water and Sewer Funds reflect only three (3) . <br /> months while expenses reflect six (6) months of operating costs. Utility <br /> bills for the second quarter will be issued in mid-July and the invoice for <br /> second quarter purchased water from the City of Roseville ($127,129) will I <br /> also be a July transaction. <br /> 15. YTD SWM expenses reflect $40,647 expended thus far for 509 capital I <br /> projects (Karth Lake Ravine and Lake Josephine Outlet). No such 509 <br /> project expenses were incurred at a comparable point in 1995. I <br /> As always, if you have any questions on the enclosed financial date or above comments, do not <br /> hesitate to contact me. e. <br /> I <br />