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96 <br />Communications Fund Summary <br />The following table depicts the 2015 financial activity for the Communications Fund for the fiscal <br />period ending June 30, 2015 (unaudited). <br />Revenues <br />Cable franchise fees <br />Interest earnings <br />Total Revenues <br />Expenditures <br />Communications <br />Total Expenditures <br />2015 2015 % % <br />Bud�et Actual Actual ExpeCt• Diff. <br />$ 445,000 $ 106,652 24.0% 26.6% -2.6% <br />3,000 - 0.0% 0.0% 0.0% <br />$ 448,000 $ 106,652 23.8% 26.5% -2.7% <br />$ 555,325 $ 393,149 70.8% 621% 8.7% <br />$ 555,325 $ 393,149 70.8% 62.1% 8.7% <br />Comments: <br />Communications Fund revenues and expenditures are near expected levels. <br />The Communications Fund is currently in excellent financial condition with $538,000 in available cash <br />reserves for operations or capital replacements. This represents 97% of the total operating budget <br />however some of these monies are earmarked for capital replacements and is expected to decline in <br />2015. The City's Cash Reserve Policy establishes a target reserve level of 25°/o for this Fund excluding <br />any long-term capital replacement needs. <br />Page 5 of 13 <br />