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2008_0721_packet
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„r, <br />, °l General Fund Summary <br />5 The following table depicts the 2008 financial activity for the General Fund for the fiscal period ending <br />86 1 June 30, 2008 (unaudited). <br />Revenues <br />General prop erty taxes <br />Intergovernmental revenue <br />Licenses & permits <br />Charges for services <br />Fines and forfeits <br />Donations <br />Interest earnings <br />Miscellaneou.s <br />Total Revenues <br />Expenditures <br />General government <br />Public safety <br />Public works <br />Other <br />2008 2008 % % <br />Bu. Actual Actual Ex Diff. <br />8.18 4.102 <br />5.1349.1000 <br />60.4% <br />62.7% <br />-2.3% <br />899.1000 <br />130.1318 <br />14.5% <br />18.3% <br />-3.8% <br />302.1400 <br />52.1117 <br />17.2% <br />17.0% <br />0.2% <br />875.1000 <br />491.1927 <br />56.2% <br />53.3% <br />2.9% <br />283.1000 <br />122.1592 <br />43.3% <br />41.1% <br />2.2% <br />-1 <br />-1 <br />n/a <br />n/a <br />n/a <br />268.1825 <br />-1 <br />0.0% <br />n/a <br />n/a <br />270.1000 <br />15.1048 <br />5.6% <br />9.8% <br />-4.2% <br />$ 11.1752.1250 $ .11 1.1002 52.4% 53.8% -1.4% <br />1.1759.1695 776.1174 44.1% <br />47.5% <br />-3.4% <br />7.1514.1680 3.1431.1663 45.7% <br />46.7% <br />-1.0% <br />2.1427.1875 1.1087.1533 44.8% <br />46.5% <br />-1.7% <br />-1 -1 n/a <br />n/a <br />n/a <br />Total Expenditures $ 11.1702.12 50 $ 5.1295.1370 45.3% 46.8% -1.5% <br />9 Comments.- <br />go General Fund revenues and eXDenditures were lower than eXDected levels- Notable exceDtionsinclude <br />-- <br />9111 <br />92 1), Property tax collections were slightly less than expected due to monies being retained by Ramsey <br />93 County pending the outcome of a number of property valuation appeals filed by various <br />94 commercial properties. Pending the outcome of the appeals, the City could take receipt later in <br />95 2008. <br />96 2), Interaovernmental revenue was lower than eXDected but it was offset by hiaher chases for <br />97 services. <br />98 3), General government expenditures were slightly less than expected despite higher motor fuel and <br />99 enerav-related costs- However- the decrease may be teMDorarv- <br />There are no immediate concerns regarding the General Funds' financial condition, other than a general <br />'I ('_) 2 recommendation to strengthen overall reserves levels. The General fund current has a cash reserve of $,4.2 <br />'I ('_) 3 million or 35% of the annual operating budget. The General Fund is likely to become increasingly reliant <br />on property taxes for future funding, as most non-tax revenue sources are expected to remain stagnant. <br />Page 4 of 15 <br />
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