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Original and Over (Under)
<br />Final Budget Actual Final Budget
<br />Revenue
<br />Taxes
<br />Property taxes 451,088$ 472,092$ 21,004$
<br />Franchise fees 6,000 – (6,000)
<br />Special assessments – 754 754
<br />Intergovernmental 19,300 9,885 (9,415)
<br />Licenses and permits 30,350 31,439 1,089
<br />Fines and forfeitures 1,200 620 (580)
<br />Charges for services 4,700 1,662 (3,038)
<br />Investment earnings 2,500 8,476 5,976
<br />Facility rental 3,000 3,594 594
<br />Miscellaneous 1,000 3,019 2,019
<br />Total revenue 519,138 531,541 12,403
<br />Expenditures
<br />Current
<br />General government 181,379 141,395 (39,984)
<br />Public safety 106,680 106,319 (361)
<br />Public works 107,979 48,720 (59,259)
<br />Conservation and development 63,100 57,187 (5,913)
<br />Capital outlay 5,000 – (5,000)
<br />Total expenditures 464,138 353,621 (110,517)
<br />Excess of revenues over expenditures 55,000 177,920 122,920
<br />Other financing (uses)
<br />Transfers (out)(55,000) (410,000) (355,000)
<br />Net change in fund balances –$ (232,080) (232,080)$
<br />Fund balances
<br />Beginning of year 495,267
<br />End of year 263,187$
<br />CITY OF GEM LAKE
<br />General Fund
<br />Statement of Revenue, Expenditures, and Changes in Fund Balances – Budget and Actual
<br />Year Ended December 31, 2020
<br />See notes to basic financial statements -13-
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