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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br /> <br />~ <br />EN HILLS <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: April 18, 2002 <br /> <br />TO: Joe Lynch, City Administrator <br /> <br />FROM: Terrance Post, City Accountant@) <br /> <br />SUBJECT: Additional Unbudgeted 2001 Operating Transfer Request <br />From Fund No. 225 to Funds No, 226 and Fund No. 412 <br /> <br />Backl!round <br />The adopted 2001 budget reflected operating transfers from Community Services Fund No, 225 <br />to Recreation Fund No. 226 of $79,480 and Public Safety Capital Equipment Fund No, 412 of <br />$52, 987. The combined transfers of $132,467 were allocated based upon satisfying the planned <br />operating deficit need in Recreation Fund No. 226 as representing 60% of the total transfer and <br />the remaining 40% going to Public Safety Capital Equipment Fund No. 412. <br /> <br />2001 Opera tin I! Results <br />With the external auditors completing their fieldwork last week, it appears that the 2001 <br />operating deficit need for the Recreation Fund No. 226 is greater than was planned. Specifically, <br />the following is a recap of the operating performance: <br /> <br />Revenue w/o Transfer <br />Expenditures <br />Operating Deficit <br /> <br />Budl!et <br />$96,500 <br />175,980 <br /><$79,480> <br /> <br />Variance <br /><$14,139> <br />3,317 <br /><$10,822> <br /> <br />Actual <br />$82,361 <br />173,183 <br /><$90,822> <br /> <br />Plus Balance Sheet Financing Needs <br /> <br /><5,820> <br /> <br />Total Operating Transfer Need Beyond Amount Budgeted <br /> <br /><$16.642> <br />