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City of Centerville <br />March 28, 2012 <br />Page 6 <br />A summary of the 2011 operations is as follows: <br />Revenues <br />Expenditures <br />Excess of revenues over expenditures <br />Other financing sources <br />Transfers in <br />Transfers out <br />Total other financing sources (uses) <br />Net change in fund balances <br />Original <br />Final <br />Budgeted <br />Budgeted <br />Actual <br />Variance with <br />Amounts <br />Amounts <br />Amounts <br />Final Budget <br />$ 2,054,700 <br />$ 2,054,700 <br />$ 2,081,543 <br />$ 26,843 <br />2,054,700 <br />2,054,700 <br />1,994,013 <br />60,687 <br />- <br />- <br />87,530 <br />87,530 <br />- <br />- <br />12,480 <br />12,480 <br />- <br />- <br />(26,100) <br />(26,100) <br />- <br />- <br />(13,620) <br />(13,620) <br />- <br />- <br />73,910 <br />73,910 <br />Fund balances, January 1 1,068,411 1,068,411 1,068,411 - <br />Fund balances, December 31 $ 1,068,411 $ 1,068,411 $ 1,142,321 $ 73,910 <br />• Revenues were over budget by $26,843 for the year. General property taxes had the largest budget variance, as this <br />category was over budget by $25,204. <br />• Expenditures were under budget by $60,687 for the year. This was mainly due to budget for capital outlay not purchased <br />in 2011. <br />952.835.9090 • Fax 952.835.3261 <br />w w w.aemcpas. corn <br />