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Recycling Fund Summary <br />The following table depicts the 2015 financial activity for the Recycling Fund for the fiscal period <br />ending June 30, 2015 (unaudited). <br />Revenues <br />Intergovernmental revenue <br />Charges for services <br />Total Revenues <br />Expendi tures <br />Recycling operaYions <br />Total Expenditures <br />2015 2015 % % <br />Bud�et Actual Actual ExpeCt• Diff. <br />$ 205,000 $ 22,313 10.9% 22.6% -11.7% <br />310,200 127,501 41.1% 46.6% -5.5% <br />$ 515,200 $ 149,813 29.1% 39.3% -102% <br />485,610 234,050 48.2% 50.6% -2.4% <br />$ 485,610 $ 234,050 48.2% 50.6% -2.4% <br />Comments: <br />Recycling Fund revenues and expenditures were near expected levels overall. However, <br />intergovernmental revenues were about half of what was expected due to a change in the frequency in <br />which the City collects its Score Grant allotment. <br />The Recycling Fund is currently in good financial condition with $119,000 in available cash reserves or <br />25°/o of the operating budget. <br />Final Comments <br />The City's overall financia] condition remains strong; however a number of concerns remain. The <br />City's cash reserve levels in some key operating units are below recommended levels. In addition, <br />strengthening the City's asset replacement funding mechanisms should remain a high priority for future <br />budgets. <br />� POLICY OBJECTIVE <br />z- The information presented above satisfies the reporting requirements in the City's Operating Budget <br />z Policy. <br />FINANCIAL IMPACTS <br />Not applicable. <br /><_ STAFF RECOMMENDATION <br />Not applicable. <br />REQUESTED COUNCIL ACTION <br />z� No formal Council action is requested. The financial report is presented for informational purposes <br />_ only. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: None <br />Page 13 of 13 <br />