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116 Community Development Fund Summary <br />11 "7 The following table depicts the 2008 financial activity for the Community Development Fund for the fiscal <br />I <br />11 period ending September 30 (unaudited). <br />119 <br />2008 <br />2008 <br />% <br />% <br />Bu. <br />Actual <br />Actual <br />Expect. <br />Diff. <br />Revenues <br />Licenses & permits 1.1036.1575 <br />894.1203 <br />86.3% <br />90.5% <br />-4.2% <br />Charges for services <br />20.1033 <br />n/a <br />n/a <br />n/a <br />Fines and forfeits <br />312 <br />n/a <br />n/a <br />n/a <br />Interest earnings 10.1000 <br />-1 <br />0.0% <br />0.0% <br />0.0% <br />Miscellaneous 65.1000 <br />32.1865 <br />50.6% <br />21.8% <br />28.7% <br />Total Revenues <br />Expenditures <br />Community development <br />Other <br />Total Expenditures <br />$ 1.1111.1575 $ 947.1412 85.2% 84.5% 0.8% <br />1.1302.1245 955.1793 73.4% 66.5% 6.9% <br />-1 -1 n/a n/a n/a <br />$ 1.1302.1245 $ 955.1793 73.4% 66.5% 6.9% <br />120 <br />121 Comments.- <br />122 Community Development Fund revenues are at expected levels as commercial/retail redevelopment has <br />123 remained strong. Expenditures were higher due to added costs associated with the Comprehensive Plan <br />124 amendment. <br />125 <br />12 6 The Community Development Fund is currently in fair financial condition with a cash reserve of $,250,000 <br />12 "7 or 25% of the annual operating budget. However the City needs to remain mindful of current economic <br />128 conditions and the viability of redevelopment opportunities. A sustained slowdown in housing and/or <br />129 commercial development will impact the Fund's ability to sustain current staffing and service levels. <br />130 <br />Page 8 of 14 <br />