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CCP 05-22-2006
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CCP 05-22-2006
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5/8/2007 1:21:35 PM
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11/15/2006 10:10:14 AM
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<br />~ <br />I'?;t <br />flL~ <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 />. <br /> <br />. Expenditures are incuned somewhat evenly throughout the year. However, property tax and state aid revenues are not <br />received until the second half of the year. An adequate fund balance will provide the cash Jlo,^" required 10 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 sesslon 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 \\"111 <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 \>"111 provide the financmg <br />needed for such expenditures. <br /> <br />.. A strong fund balance will assist the City in maintaining. improving or obtaining a bond ratmg, <br /> <br />The 2005 operations are 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,'1841 <br /> 39,000 28.335 <br /> (J77,520) <br /> (241,452) (44.149) <br /> 1,314,929 1,314.929 <br />$ 1,073,477 S 1,270.780 S <br /> <br />Other financing sources (uses) <br />Transfers in <br />Transfers out <br /> <br />Net change in fuod balances <br /> <br />Fund balances, January 1 <br /> <br />Variance with <br />Final Budget- <br />Positive <br />(Negative) <br /> <br />. <br /> <br />$ (J38,014) <br />168,462 <br /> <br />30,448 <br /> <br />(10.665) <br />177.520 <br /> <br />197,303 <br /> <br />. The }8rgest item ofvanance on the revenue side was licenses and pcnnits. This item 'had an unfavorable variance of <br />$158,801 or 115 percent of the total revenue Vallance. <br /> <br />%2.8:\;"),9090 . tax %2.83::',:126] <br /> <br />www.acmcpa:o.n>1l1 <br /> <br />. <br />
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