2012-12-31 Management Ltr. - Laserfiche WebLink

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City of Centerville March 20, 2013 Page 6 A summary of the 2012 operations is as follows: OriginalFinal BudgetedBudgetedActualVariance with AmountsAmountsAmountsFinal Budget Revenues$ 2,059,800$ 2,059,800$ 2,272,288$ 212,488 Expenditures 1,902,800 1,902,800 2,019,789 (116,989) Excess of revenues over expenditures 157,000 157,000 252,499 95,499 Other financing uses Transfers out (189,000) (189,000) (189,000) - Net change in fund balances (32,000) (32,000) 63,499 95,499 Fund balances, January 1 1,142,321 1,142,321 1,142,321 - Fund balances, December 31$ 1,110,321$ 1,110,321$ 1,205,820$ 95,499 Total revenue had a positive budget variance of $212,488. Most of this increase is due to nonbusiness licenses and permits and miscellaneous refunds and reimbursements. The variance in miscellaneous refunds and reimbursements is due to monies received from other cities related to the salt brine agreement, in which the City paid for the costs and then was reimbursed by the other cities involved Total expenditures had a negative budget variance of $116,989. Total public works expenditures were over budget by $124,861. This was due to the costs associated with the salt brine agreement, which were reimbursed back to the City.