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Page 7 of 13 <br />Community Development Fund Summary 123 <br />The following table depicts the 2013 financial activ ity for the Community Development Fund for the 124 <br />fiscal period ending June 30, 2013 (unaudited). 125 <br /> 126 <br />20132013%% <br />Budget Actual Actual Expect.Diff. <br />Revenues <br />Licenses & permits1,015,886 $ 568,874 $ 56.0%43.2%12.8% <br />Charges for services- 89,978 n/an/an/a <br />Fines and forfeits- - n/an/an/a <br />Interest earnings- - n/an/an/a <br />Miscellaneous136,500 9,415 n/an/an/a <br />Total Revenues 1,152,386 $ 668,267 $ 58.0%51.1%6.9% <br />Expenditures <br />Community Development1,045,990 561,570 53.7%52.6%1.1% <br />Total Expenditures 1,045,990 $ 561,570 $ 53.7%52.6%1.1% 127 128 <br />Comments: 129 <br />Community Development Fund revenues and expenditures are near expected levels. 130 <br /> 131 <br />The Community Development Fund is currently in good financial condition with $367,000 in available 132 <br />cash reserves or 35% of the annua l operating budget. The City’s Ca sh Reserve Policy establishes a 133 <br />target reserve level of 25-50% for this Fund. 134 <br /> 135 <br />136