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Community Development Fund Summary <br />123 <br />The following table depicts the 2013 financial activity for the Community Development Fund for the <br />124 <br />fiscal period ending March 31, 2013 (unaudited). <br />125 <br />126 <br />20132013%% <br />BudgetActualActualExpect.Diff. <br />Licenses & permits1,015,886$ 232,356$ 22.9%19.7%3.2% <br />Charges for services- 7,049 n/an/an/a <br />Fines and forfeits- - n/an/an/a <br />Interest earnings- - n/an/an/a <br />Miscellaneous136,500 3,374 n/an/an/a <br />$ 242,7781,152,386$ 21.1%21.7%-0.7% <br />Community development1,045,990 254,327 24.3%22.3%2.0% <br />$ 254,3271,045,990$ 24.3%22.3%2.0% <br />127 <br />128 <br />Comments: <br />129 <br />Community Development Fund revenues and expenditures are near expected levels. <br />130 <br />131 <br />The Community Development Fund is currently in fair financial condition with $367,000 in available <br />132 <br />cash reserves or 35% of the annual operating budget. The City’s Cash Reserve Policy establishes a <br />133 <br />target reserve level of 25-50% for this Fund. <br />134 <br />135 <br />136 <br />Page 7 of 13 <br /> <br />