Annual_Report_1976_001 - Laserfiche WebLink

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GENERAL FIIND (Continued) Actual revenues for property tases, licenses and permits, and investment income exceeded estimates �ohich reduced the need for financing from the prior years fund balanc.e. F.spenditures exceeded budget in tFze Public Worl:s Department because of additional costs incurred with llutch elm disease. Insurance expenditures were higher than anticipated resulting in "Other exper;dit::res" exceeding budget. Since ekpenditures er,ceeded revenues, the fund bal.ance �vas reduced $1G1,351 for 1976 compared wi.th a projerted decrease of: $14?,000. The fund balance at December 31, ' 1976 w�as $504,951 representing approximately 20% of thr 19%7 gen�ral operating budget �' cotnpared ;aith a fund balance of 2/% available one year aga to help finance 1976 expenditures. Considering the unpredictable rate of i.nfla[ion, general cost increases and the time lag on tax coll�cti.ons, the City st.ou7d attempt to mai�ztain a f.und balance equal to at least 25% of next years expenditures. Otherwise, the City may have to resort to �', shc�rt-term anticipation barrowing pending ;ollectian ot tax levies. ��. SPL�GIAL YE;VENT.iE FUN�D:, Special revenue funds are established to account for taxes and other revenues set asi_de for a parL'icular pur�ose. Following ;.s a brief description of each fund. F.quipment Fevolving Fund - Thi_s fund (formeriy the Fixed Asset Replacemen.t Fund) is --- — r�sed to perchase heavy machinerv and vehir_ular type equipment, Revenue for the fi.nancing of this equipment comes frum the using departments in thA forni of- de- preciation Type, cha'rges along wi.th property tas levies. E;quipmenL' expenditures arount:ed to $106,G06 for Lhe yeaz leavin� a fuad balanre at December 37., 19i6 af $2,�37,614. Rect2a.ti_cn Fund - Thi.s fur.d was established as a separrate fund in 1976 to account for expenditures in the maintenance of its parks and recreation programs. Kevenues are fra:n gtneral prope;ty tar,es and fees charged users of the various recreatior� programs. "` r:;pei�ditures of $330,593 exceeded rerenues of $320,123 leaving a fund dofi.rit of $7.0,570. Pern�ar.ent�irn��rovement_Fund - This fund -was also estaUlished in 15?6 to account for e>:per,dicures necessasy For the constructien, renovation or instal_lati_on of f�.ci].ities of a perma.ne.nt nature.. Revenues ne.cessary to finance these imprcvements may come , ?=rocn pioperty taxes, federa7. er staTe �ran.ts cr transFers from ot:h�r funds. F.:ipenditures for tiie ye,�ir for cal,ital imnroveme_nts consisted of the following: Poli.ce clispatcti center Park develcpment 36" Water Feeder Main $ 4,000 100,000 Z26, 95-/ ,�'10_ , 9:S 7 Y��=.ith Service Bureau - This fund accounts Lor the expenditures of. the C:. [d. Youth Sex�aLces L�ureau cohi_ch includes Roseville and adjacent communities lyin� wiYhi.n the bou�d.ai'ies of School llistricts 621 and 67_3. Expezidi.tures �rc usc�c� to provide �counscl.i.ri.�; and educaTion programs ta parents, youth and the�ir families. During 1)�6, a State Grant cf $33,i54 provided all of the revenue used to finance expenctiCures oF $28,358. II