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Recreation Fund Summary <br />71 <br />The Recreation Fund accounts for the activities for the City’s parks & recreation programs, recreation <br />72 <br />facilities including the Skating Center, and general park maintenance. Its primary funding sources are <br />73 <br />the property tax levy and recreation program fees. <br />74 <br />75 <br />The following table depicts the 2014 financial activity for the Recreation Fund for the fiscal period <br />76 <br />ending September 30, 2014 (unaudited). <br />77 <br />78 <br />20142014%% <br />ActualActualExpect.Diff. <br />Budget <br />Revenues <br />General property taxes2,075,215$ 1,062,998$ 51.2%51.0%0.2% <br />Charges for services1,978,695 1,242,371 62.8%64.5%-1.7% <br />Rentals / Lease- 35,350 0.0%0.0%0.0% <br />Donations- 30,027 0.0%0.0%0.0% <br />Interest earnings6,800 - 0.0%0.0%0.0% <br />Miscellaneous3,000 25,530 851.0%57.2%0.0% <br />Total Revenues$ 2,396,2764,063,710$ 59.0%59.7%1.8% <br />Expenditures <br />Recreation4,134,050 2,849,000 68.9%67.7%1.2% <br />Total Expenditures$ 2,849,0004,134,050$ 68.9%67.7%1.2% <br />79 <br />80 <br />Comments: <br />81 <br />Recreation Fund revenues and expenditures are near expected levels. <br />82 <br />83 <br />The Recreation Fund is currently in good financial condition with $1,111,000 in available cash reserves <br />84 <br />or 27% of the annual operating budget. The City’s Cash Reserve Policy establishes a target reserve <br />85 <br />level of 25% for this Fund. <br />86 <br />87 <br />88 <br />Page 4 of 14 <br />