|
City of Centerville
<br />March 24, 2011
<br />Page 6
<br />A table summarizing the General fund balances in relation to budgeted expenditures and transfers out follows:
<br />Percent
<br />of Fund
<br />FundGeneral
<br />Balance to
<br />BalanceBudgetFund
<br />Budget
<br />YearDecember 31YearBudget
<br />2006$1,563,3352007$2,177,20072%
<br />20071,435,16420082,441,60059
<br />20081,157,51620092,692,28643
<br />20091,231,32620102,184,43056
<br />20101,068,41120112,054,70052
<br />Fund Balances as a Percent of Next Year’s Budget
<br />$4,000,000
<br />$3,500,000
<br />$3,000,000
<br />$2,441,600
<br />$2,177,200
<br />$2,184,430
<br />$2,500,000
<br />$2,692,286
<br />$2,000,000
<br />$2,054,700
<br />$1,500,000
<br />72%
<br />$1,000,000
<br />59%
<br />56%
<br />43%
<br />52%
<br />$500,000
<br />$-
<br />200620072008200920102011
<br />Actual Fund BalanceBudget
<br />We have compiled a peer group average derived from information available on the website of the Office of the State Auditor
<br />th
<br />for Cities of the 4class which have populations between 2,500 and 10,000. In 2009, the average General fund balance as a
<br />percentage of expenditures was 63percent. Based on a comparison to the peer groups, the City’s General fund balance is lower
<br />than averagebut close to the recommended range.
<br />
<br />
|