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A summary of the 2016 operations is as follows: <br />People <br />11 <br />-6- <br />Original <br />Final <br />Budgeted <br />Budgeted <br />Actual <br />Variance with <br />Amounts <br />Amounts <br />Amounts <br />Final Budget <br />Revenues <br />$ 2,412,003 <br />$ 2,412,003 <br />$ 2,582,984 <br />$ 170,981 <br />Expenditures <br />2,162,003 <br />2,162,003 <br />2,191,741 <br />(29,738) <br />Excess of revenues over expenditures <br />250,000 <br />250,000 <br />391,243 <br />141,243 <br />Other financing uses <br />Transfers out <br />(250,000) <br />(250,000) <br />(250,000) <br />- <br />Net change in fund balances <br />- <br />- <br />141,243 <br />141,243 <br />Fund balances, January 1 <br />1,169,065 <br />1,169,065 <br />1,169,065 <br />- <br />Fund balances, December 31 <br />$ 1,169,065 <br />$ 1,169,065 <br />$ 1,310,308 <br />$ 141,243 <br />• Total revenue had a positive budget variance <br />of $170,981. License and permits has the most significant <br />variance over <br />budget of $97,569. <br />• Total expenditures had a variance over budget of $29,738. The most <br />significant variance <br />was in the culture <br />and <br />recreation function totaling $27,793, primarily <br />related to parks and <br />recreation being over budget. <br />People <br />11 <br />-6- <br />