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Page 3 of 13 General Fund Summary 49 The following table depicts the 2013 financial activity for the General Fund for the fiscal period ending 50 June 30, 2013 (unaudited). 51 52 20132013%% Budget Actual Actual Expect.Diff. Revenues General property taxes10,258,611 $ 5,744,822 $ 56.0%55.6%0.4% Intergovernmental revenue874,000 150,891 17.3%23.2%-5.9% Licenses & permits311,500 48,673 15.6%22.9%-7.3% Charges for services985,000 522,767 53.1%55.1%-2.0% Fines and forfeits220,000 109,768 49.9%46.1%3.8% Donations- - 0.0%0.0%0.0% Interest earnings82,826 - 0.0%0.0%0.0% Miscellaneous105,000 17,026 16.2%11.5%4.7% Total Revenues12,836,937 $ 6,593,947 $ 51.4%51.5%-0.1% Expenditures General government2,086,384 $ 1,065,144 $ 51.1%43.2%7.8% Public safety8,207,141 3,639,366 44.3%47.5%-3.1% Public works2,543,412 1,083,848 42.6%40.5%2.1% Total Expenditures12,836,937 $ 5,788,358 $ 45.1%45.4%-0.3% 53 54 Comments: 55 General Fund revenues and expenditu res were near expected levels. 56 57 The General Fund is currently in good financial cond ition with $6.1 million in available cash reserves 58 or 48% of the annual operating budget. The City’s Cash Reserve Policy esta blishes 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 infesta tion. The General Fund is also a potential funding 63 source for the additional costs associated with th e new Fire Station that were not included in the 64 original bond amount projection. Finally, the Council is reminded th at a large portion of the 2012 65 General Fund operating surplus is in tended to be availabl e 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