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<br />./ Audit Final Budget Variance
<br /> 2006 2007 2007 +(-)
<br />.conomic Development
<br />Economic Development 15,554.04 (6) 6,200.00 (9,354.04)
<br /> EDC - Frozen Fete Des Lacs
<br /> EDC - Business Directory
<br /> EDC - Business Promotion
<br /> EDC - Miscellaneous
<br /> Cougar Cash
<br />Total Economic Development 169,273.00 15,554.04 6,200.00 (9,354.04)
<br />Unallocated
<br />Miscellaneous 0.00 0.00 0.00
<br />Refunds & Reimbursements 0.00 0.00 0.00
<br />City Summer Festival 29,884.38 25,000.00 (4,884.38)
<br />Total Miscellaneous 25,835.00 29,884.38 25,000.00 (4,884.38)
<br />Total Current Expenditures 1,974,689.00 2,016,495.76 2,028,700.00 12,204.24
<br />Capital Outlay
<br />General Government 16,681.00 0.00 5,000.00 5,000.00
<br />Public Safety 1,306.00 0.00 5,000.00 5,000.00
<br />Streets and Highways 94,017.00 372,153.11 (7) 113,000.00 (259,153.11 )
<br />Culture and Recreation 765.00 0.00 25,000.00 25,000.00
<br />Total Capital Outlay 112,769.00 372,153.11 148,000.00 (224,153.11)
<br />TOTAL EXPENDITURES 2,087,458.00 2,388,648.87 2,176,700.00 (211,948.87)
<br />EXCESS (DEFICIT) OF REVENUES 154,479.00 70,025.00 181,200.00 111,175.00
<br />OVER EXPENDITURES
<br />OTHER FINANCING SOURCES (USES)
<br />Operating Transfer In 65,400.00 0.00 0.00 0.00
<br />Operating Transfer Out (205,900.00) (205,800.00) (181,200.00) 24,600.00
<br />Sale of General Fixed Assets 9,611.00 (8) 0.00 (9,611.00)
<br />TOTAL OTHER FINANCING (140,500.00) (196,189.00) (181,200.00) 14,989.00
<br />SOURCES (USES)
<br />EXPENDITURES & OTHER FINANCING 2,293,358.00 2,594,448.87 2,357,900.00 (236,548.87)
<br />EXCESS (DEFICIENCY) OF 13,979.00 (126,164.00) (9) 0.00 126,164.00
<br />REVENUE AND OTHER FINANCING
<br />SOURCES OVER EXPENDITURES
<br />AND OTHER FINANCING USES
<br />FUND BALANCE JANUARY 1 1,549,356.00 1,563,335.00
<br />FUND BALANCE DECEMBER 31 1,563,335.00 1,437,171.00
<br />PREPARED BY: JOHN W. MEYER, FINANCE DIRECTOR
<br />(1) Received more fire aid than anticipated
<br />(2) Received refunds from developers and a reimbursement for staff time on bond sale activity
<br />(3) Included legal fees expended in legal fees line item
<br />(4) Additional fire aid expended for fire protection
<br />(5) Additional expenditures attributed to storm clean up
<br />(6) Includes expenditure for tax abatement ($11,375)
<br />(7) Includes expenditure for partial payment on public works building acquisition - $300,000 (balance 1.1 M)
<br />(8) Represents proceeds from the sale of snow plow
<br />(9) General Fund expenditures were greater than revenues
<br />3/12/2008 11 :36 AM budget GF Period 13 2007
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