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Community Development Fund Summary <br />111 <br />The Community Development Fund accounts for the activities associated with the City’s planning & <br />112 <br />zoning, economic development, and code enforcement functions. It’s primary funding sources are <br />113 <br />building permit and plan review fees. <br />114 <br />115 <br />The following table depicts the 2014 financial activity for the Community Development Fund for the <br />116 <br />fiscal period ending September 30, 2014 (unaudited). <br />117 <br />118 <br />20142014%% <br />BudgetActualActualExpect.Diff. <br />Revenues <br />Licenses & permits1,181,110$ 924,786$ 78.3%88.2%-9.9% <br />Intergovernmental151,000 105,270 n/an/an/a <br />Fines and forfeits- - n/an/an/a <br />Interest earnings- - n/an/an/a <br />Miscellaneous- 15,951 n/an/an/a <br />Total Revenues$ 1,046,0061,332,110$ 78.5%105.3%-26.8% <br />Expenditures <br />Community Development1,190,995 933,362 78.4%91.0%-12.6% <br />Total Expenditures$ 933,3621,190,995$ 78.4%91.0%-12.6% <br />119 <br />120 <br />Comments: <br />121 <br />Community Development Fund revenues and expenditures are near expected levels when compared to <br />122 <br />most prior year levels. However, the 3-year average (% expected) is skewed due to the presence of <br />123 <br />grants and grant spending within the measurement period. <br />124 <br />125 <br />The Community Development Fund is currently in excellent financial condition with $595,000 in <br />126 <br />available cash reserves or 50% of the annual operating budget. The City’s Cash Reserve Policy <br />127 <br />establishes a target reserve level of 25-50% for this Fund. <br />128 <br />129 <br />Page 6 of 14 <br />