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SEP-28-2007 13:20 CITY OF SHOREUIEW 6514904699 P.04/06 <br /> Page 3 <br /> Proposed Fund Balance Policy Revisions <br /> • March 31, 1998 <br /> For the year ended December 31, 1997,the proposed designations would be as follows: <br /> Cash flow designation: <br /> ▪ General Fund property taxes $2,496,347 <br /> • Fiscal disparities 365,660 <br /> - Homestead and ag credit aid(HACA) 985,216 <br /> ■ Local performance aid 34,618 <br /> Total $3,881,841. <br /> 50% cash flow designation $1,940,921 <br /> Unanticipated expenditure designation: <br /> • 5%of expenditures (estimated at $4,905,106) $ 245,255 * <br /> Current estimates indicate that the proposed policy would result in a General Fund <br /> balance of$2,186,176 ($1,940,921 + $245,255), with a $159,894 transfer to the GFAR <br /> Fund. <br /> It should be noted that although this policy is established by resolution, the City Council <br /> may revise the fund balance policy at any time. <br /> • SUMMARY <br /> Staff recommends adoption of the attached proposed resolution amending the General <br /> Fund Balance policy. <br /> File: t\data\word\Gnrep\fund hal policy adopt <br /> Link: t\data\cxcel\tit\tif change <br />