Laserfiche WebLink
158 <br />159 <br />160 <br />16 1 <br />Community Development Fund Summary <br />The following table depicts the 2008 financial activity for the Community Development Fund for the fiscal <br />I <br />period ending June 30, 2008 (unaudited). <br />Revenues <br />Licenses & permits <br />Charges for services <br />Fines and forfeits <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Community develop�ment <br />Other <br />2008 <br />2008 <br />% <br />% <br />uB <br />Actual <br />Actual <br />Expect. <br />Diff. <br />1.1036.1575 <br />583.1986 <br />56.3% <br />54.2% <br />2.2% <br />1.1008 <br />n/a <br />n/a <br />n/a <br />n/a <br />n/a <br />n/a <br />10.1000 <br />0.0% <br />0.0% <br />0.0% <br />65.1000 <br />18.1957 <br />29.2% <br />23.4% <br />5.8% <br />1.1111.1575 <br />603.1951 <br />54.3% <br />52.2% <br />2.2% <br />1.1302.1245 635.1394 48.8% 42.8% 6.0% <br />-1 -1 n/a n/a n/a <br />Total Expenditures $ 1.1302.1245 $ 635.1394 48.8% 42.8% 6.0% <br />Comments.- <br />Community Development Fund revenues and expenditures were above expected levels. Expenditures were <br />higher due to added costs associated with the Comprehensive Plan amendment. <br />The Community Development Fund is currently in fair financial condition with a cash reserve of $,250,000 <br />or 25% of the annual operating budget. However the City needs to remain mindful of current economic <br />conditions and the viability of redevelopment opportunities. A sustained slowdown in housing and/or <br />commercial development will impact the Fund's ability to sustain current staffing and service levels. <br />Page 8 of 15 <br />