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Projected 2015 Bud�et Savings <br />� Generally speaking, the City's day-to-day operations have been fairly consistent over the years <br />although there continues to be fluctuations due to seasonal changes, employee turnover, and unforeseen <br />� events. Using prior year experiences we can employ a number of formulas to estimate the year-end <br />� financial results for lcey operating budgets. <br />Based on financial activity through September 30, 2015 and assuming remaining revenues and <br />expenditure trends continue, Staffprojects the following year-end results for the General Fund: <br />General Fund 2015 2015 <br />Budget Projected <br />Revenue $ 13,522,430 $ 13,573,743 <br />Expenditures 13,897,930 13,523,743 <br />Surplus (De�cit) $ (375,500) $ 50,000 <br />� As shown in the table, the General Fund is projected to generate an operating surplus in the amount of <br />$50,000 in 2015. While overall revenues are trending as expected, eXpenditures are significantly lower <br />� due to a number of contributing factors. A major determinant results from a significant amount of <br />personnel changes and vacancies that took place during the year. This occurs from the natural hiring <br />delay when employees leave the organization as well as the effects from hiring new employees at a <br />lower pay step than their predecessors. <br />Budgetary savings also stems from lower-than-expected snow and ice control supplies, and energy- <br />� related costs. With this surplus the General Fund's cash reserve level is projected as follows: <br />57 <br />General Fund Cash Reserve Level <br />50% <br />The 2016 Projected amount is based on the 2016 Preliminary Budget & Tax Levy. <br />Page 2 of 7 <br />