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General Fund Summary 49 The following table depicts the 2013 financial activity for the General Fund for the fiscal period ending 50 March 31, 2013 (unaudited). 51 52 20132013%% BudgetActualActualExpect.Diff. Revenues General property taxes10,258,611$ -$ 0.0%0.0%0.0% Intergovernmental revenue874,000 145,891 16.7%16.5%0.2% Licenses & permits311,500 16,716 5.4%7.6%-2.2% Charges for services985,000 28,326 2.9%25.0%-22.1% Fines and forfeits220,000 44,666 20.3%19.9%0.4% Donations- - 0.0%0.0%0.0% Interest earnings82,826 - 0.0%0.0%0.0% Miscellaneous105,000 12,318 11.7%5.5%6.3% Total Revenues12,836,937$ 247,916$ 1.9%3.6%-1.7% Expenditures General government2,086,384$ 448,131$ 21.5%22.7%-1.2% Public safety8,207,141 1,633,691 19.9%22.7%-2.8% Public works2,543,412 487,417 19.2%19.0%0.2% Total Expenditures12,836,937$ 2,569,238$ 20.0%21.9%-1.9% 53 54 Comments: 55 General Fund revenues and expenditures were near expected levels. 56 57 The General Fund is currently in good financial condition with $5.2 million in available cash reserves 58 or 48% of the annual operating budget. The City’s Cash Reserve Policy establishes a target reserve 59 level of 35-45% for this Fund. 60 61 It should be noted that $100,000 of these cash reserves have informally been earmarked for tree 62 removal associated with Emerald Ash Borer infestation. The General Fund is also a potential funding 63 source for the additional costs associated with the new Fire Station that were not included in the 64 original bond amount projection. Finally, the Council is reminded that a large portion of the 2012 65 General Fund operating surplus is intended to be available for 2013 operations in conjunction with the 66 City’s biennial approach. 67 68 Using the General Fund for these purposes, could drop the cash reserve level to 40% or less. 69 70 Page 3 of 13