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Recreation Fund Summary <br />98 <br />The following table depicts the 2012 financial activity for the Recreation Fund for the fiscal period ending <br />99 <br />June 30, 2012 (unaudited). <br />100 <br />101 <br />20122012%% <br />BudgetActualActualExpect.Diff. <br />Revenues <br />General property taxes2,003,595$ -$ 0.0%0.0%0.0% <br />Charges for services1,879,768 914,736 48.7%46.0%2.6% <br />Rentals / Lease- 27,857 n/an/an/a <br />Donations- 26,392 n/an/an/a <br />Interest earnings15,000 - 0.0%0.0%0.0% <br />Miscellaneous6,500 29,514 454.1%11.0%443.1% <br />Total Revenues$ 998,4993,904,863$ 25.6%24.0%1.6% <br />Expenditures <br />Recreation3,904,863 1,721,605 44.1%41.8%2.3% <br />Other- - n/an/an/a <br />Total Expenditures$ 1,721,6053,904,863$ 44.1%41.8%2.3% <br />102 <br />103 <br />Comments: <br />104 <br />Recreation Fund revenues and expenditures are near expected levels. Miscellaneous revenues were higher <br />105 <br />than normal, but not financially significant to the operation as a whole. <br />106 <br />107 <br />The Recreation Fund is currently in fair financial condition with a cash reserve of $643,000 or 18% of the <br />108 <br />annual operating budget. The Council-adopted policy recommends a reserve level of 25%. Additional <br />109 <br />reserves will be needed to ensure program stability. <br />110 <br />111 <br />112 <br />Page 6 of 13 <br /> <br />