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11/01/2010
<br />CITY OF GEM LAKE, MINNESOTA
<br />2011 PRELIMINARY BUDGET
<br />304 2007 CAPITAL IMPROVEMENT PLAN BONDS
<br />REVENUE BUDGET 11/16/2010
<br />ACCT. 2007 2008 2009 2010 2010 2011 %
<br /># ACCOUNT DESCRIPTION ACTUAL ACTUAL ACTUAL BUDGET PROJECTED PRELIMINARY CHANGE
<br />PROPERTY TAXES
<br />31001 CURRENT TAXES
<br />$93.540
<br />$51,232
<br />$21,706
<br />$52,600
<br />$52,600
<br />$52.000
<br />-114%
<br />31002 DELINQUENT TAXES
<br />0
<br />40
<br />2,491
<br />0
<br />0
<br />0
<br />0.00%
<br />31003 FISCAL DISPARITIES TAXES
<br />1,689
<br />1,169
<br />610
<br />0
<br />0
<br />0
<br />0 00%
<br />31004 PENALTIES & INTEREST
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0.00%
<br />TOTAL FINES & FORFEITS
<br />$95,229
<br />$52,440
<br />$24,807
<br />$52.600
<br />$52,600
<br />$52,000
<br />-1.14%
<br />MISCFLL ANEO
<br />36210 INTEREST EARNINGS
<br />503
<br />1,798
<br />1,200
<br />1,000
<br />1.000
<br />663
<br />-13.67%
<br />39100 BOND PROCEEDS
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0.00%
<br />39200 TRANSFERSIN
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0.00%
<br />TOTAL MISCELLANEOUS
<br />$503
<br />$1.798
<br />$1.200
<br />$1,000
<br />$1,000
<br />$863
<br />-13.67%
<br />TOTAL REVENUES
<br />$95.733
<br />$54.238
<br />$26.007
<br />$53.600
<br />$53,600
<br />$52,863
<br />-1 37%
<br />EXPENDITURE BUDGET
<br />CAPITAL OUTLAY
<br />600 BOND PRINCIPAL
<br />$0
<br />$0
<br />$15.000
<br />$15,000
<br />$15.000
<br />$15,000
<br />0 00%
<br />610 BOND INTEREST
<br />0
<br />40,384
<br />35,955
<br />35,355
<br />35.355
<br />34,755
<br />-1.70%
<br />620 FISCAL AGENT FEES
<br />0
<br />450
<br />550
<br />450
<br />550
<br />550
<br />22.22%
<br />720 TRANSFERS OUT
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0.00%
<br />TOTAL CAPITAL OUTLAY
<br />$0
<br />$40,834
<br />$51.505
<br />$50,805
<br />$50,905
<br />$50,305
<br />-0.98%
<br />TOTAL EXPENDITURES
<br />$0
<br />$40,834
<br />$51,505
<br />$50,805
<br />$50,905
<br />$50.305
<br />-0 98%
<br />FUND BALANCE - JANUARY 1 $0 $95,733 $109,136 $83.638 $83,638 $86,333
<br />EXCESS REVENUE OVER EXPENDITURES $95,733 $13,404 ($25,498) $2,795 $2,695 $2,558
<br />FUND BALANCE - DECEMBER 31 $95.733 $109,136 $83,638 $86,433 $86.333 $88,892 2.84%
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