Laserfiche WebLink
License Center Fund Summary <br />The following table depicts the 2015 financial activity for the License Center Fund for the fiscal period <br />ending June 30, 2015 (unaudited). <br />Revenues <br />Charges for services <br />Interest Earnings <br />Total Revenues <br />Expendi tures <br />License Center operations <br />Total Expenditures <br />2015 2015 % % <br />Bud�et Actual Actual Expect• Diff. <br />$ 1,410,500 $ 635,321 45.0% 48.3% -3.3% <br />3,000 - 0.0% 0.0% 0.0% <br />$ 1,413,500 $ 635,321 44.9% 48.1% -3.2% <br />1,554,775 698,044 44.9% 47.0% -2.1% <br />$ 1,554,775 $ 698,044 44.9% 47.0% -2.1% <br />Comments: <br />License Center Fund revenues and expenditures are near expected levels. <br />The License Center Fund is currently in eXcellent financial condition with $1.1 million in available cash <br />reserves or 74% of the operating budget. However a budgeted draw-down of $323,000 of reserves is <br />expected in 2015 to support the General Fund and IT Operations. If this transpires, reserve levels will <br />be at 53% of the operating budget. The City's Cash Reserve Policy establishes a target reserve level of <br />25% for this Fund. <br />Page 8 of 13 <br />