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Recreation Fund Summary <br />The following table depicts the 2012 financial activity for the Recreation Fund for the fiscal period ending <br />September 30, 2012 (unaudited). <br />Revenues <br />General property taxes <br />Charges for services <br />Rentals / Lease <br />Donations <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Recreation <br />Other <br />2012 2012 % % <br />Bud�et Actual Actual Expect• Diff. <br />$ 2,003,595 $ 1,056,767 52.7% 502% 2.5% <br />1,879,768 1,261,350 67.1% 642% 2.9% <br />- 38,744 n/a n/a n/a <br />- 34,927 n/a n/a n/a <br />I5,000 - 0.0% 0.0% 0.0% <br />6,500 11,148 171.5% 27.5% 144.0% <br />$ 3,904,863 $ 2,402,936 61.5% 58.8% 2.8% <br />3,904,863 2,605,906 66.7% <br />- - n/a <br />Total Expenditures $ 3,904,863 $ 2,605,906 66.7% <br />70.2% -3.5% <br />n/a n/a <br />70.2% -3.5% <br />Comments: <br />Recreation Fund revenues and expenditures are near expected levels. Miscellaneous revenues were higher <br />than normal, but not financially significant to the operation as a whole. <br />The Recreation Fund is currently in fair financial condition with a cash reserve of $643,000 or 18% of the <br />annual operating budget. The Council-adopted policy recommends a reserve level of 25%. Additional <br />reserves will be needed to ensure program stability. <br />Based on current trends, it appears that a small surplus could be realized in 2012. <br />Page 6 of 13 <br />