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CCP 05-15-2006
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CCP 05-15-2006
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5/8/2007 1:21:33 PM
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11/15/2006 10:10:06 AM
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<br /> <br />The purposes and benefits of a General fund balance are as follows: <br /> <br />Purposes and Benefits <br /> <br />City of Arden Hills . <br />April 14, 2006 <br />Page Eight <br /> <br />. Expenditures are incurred somewhat evenly throughout the year. However. property tax and state aid revenues are not <br />received until the second half ofthe year. An adequate fund balance will provide the cash flow required to finance the <br />General fund expenditures. <br /> <br />. The City is vulnerable to legislative actions at the State and Federal level. The State eliminated HACA aid with the <br />2001 legislative session and imposed reductions of market value credit aid and local government aid for some cities. <br />Levy limits have also been implemented for municipalities in past legislative sessions. An adequate fund balance will <br />provide a temporary buffer against those aid adjustments and levy limits. <br /> <br />. Expenditures not anticipated at the time the annual budget was adopted may need immediate Council action. These <br />would include capital outlay replacement, lawsuits and other items. An adequate fund balance will provide the financing <br />needed for such expenditures. <br /> <br />. A strong fund balance will assist the City in maintaining. improving or obtaining a bond rating. <br /> <br />The 2005 operations arc summarized as follows: <br /> <br />Final <br />Budgeted <br />Amounts <br /> <br />Actual <br />Amounts <br /> <br />Revenues <br />Expenditures <br /> <br />$ 3,200,930 <br />3,303,862 <br /> <br />$ 3,062,916 <br />3,135,400 <br /> <br />Excess (deficiency) of revenues <br />over (under) expenditures <br /> <br /> (102,932) (72,484) <br /> 39,000 28,335 <br /> (177,520) <br /> (241,452) (44,149) <br /> 1,314,929 1,314,929 <br />$ 1,073,477 $ 1,270,780 $ <br /> <br />Other financing sources (uses) <br />Transfers in <br />Transfers out <br /> <br />Net change in fund balances <br /> <br />Fund balances, January 1 <br /> <br />Variance with <br />Final Budget- <br />Positive <br />(Negative) <br /> <br />. <br /> <br />$ (138,014) <br />168,462 <br /> <br />30,448 <br /> <br />( 10,665) <br />177,520 <br /> <br />197,303 <br /> <br />. The largest item of varia nee on the revenue side was licenses and pennits. This item had an unfavorable variance of <br />$158,801 or 115 percent of the total revenue variance. <br /> <br />952.8.%.9090 . Fa, 952.8:}:J.;~261 <br /> <br />WWW.<lt::lHqla....cum <br /> <br />. <br />
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