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CAPITAI� PROJF.CTS FUNDS - {Conti.nued) <br />Chatsworth Park Fund - This fund was establislied during the year to account for <br />revenue received from a State Planning Grant for Chatsworth Parko The grant <br />revenue received will be matched by the City. Expenditures wi11 be made to acquire <br />land for park purposes. Matching funds have been provided for in the 1977 and 1978 ' <br />budget. <br />Fire Station �k3 Fund - This fund was closed in 1977 with its fund balance transferred <br />to the Permanent Revolving Fundo <br />Old City Hali Remodelina Fund - Construction costs are being financed by transfers <br />from the Revenue Sharing Fund. Expenditures for the year totaled $313,231. <br />City Hall Construction Fund - This fund was closed in 1977 with its fund balance <br />transferred to the Permanent In�rovement Fund. <br />Civic Center Dxive Fund - This fuszd was closed i.n 1977 with a transfer of $23,209 <br />from the Special Assessment Censtruction Fund received to finance ttie fund deficit. <br />SPECI.�1I. F.�SESSr1ENT FLT;DS <br />Special assessment funds used by the City are either for construction or debt service. <br />Tra�isactions accounted for in the special assessment construction £unds are pr�marily <br />receipts of bond proceeds and dishursements of bond prqceeds for constnicti�n work <br />done. Special assessment debt service funds are used to account for collection oE <br />assessments against benefited propercy owners and disbursement of. assessment <br />collections for the payment of bonds and intesest. Deferred tax levies are set up <br />to finance the City's share vL the improvement costs, Retirement of outstanding <br />bonds for 1977 amounted to $1,325,000. General Improvement bonds of $1,600,000 were <br />sold during the y2ar. <br />EIdT�RPRISE FUNDS <br />A cordensed summary of operations uy fund for each of the past three years is <br />presented below. <br />Liyuor Dispensary Fund <br />Sales $1,009,580 <br />Cost of sales 790,1�f1 <br />Gross profit $ 219,439 <br />Gperating expenses 151,491 <br />Administrative <br />expenses 41,52& <br />Operating <br />incose $ 26,420 <br />Other income 532 <br />Net income S 26.952 <br />1977 <br />Percent <br />of sales <br />1976 1975 <br />Percent percenc <br />of sales of sa2es <br />100.00 $ 989,860 100.00 <br />78.26 794_z�62 80.22 <br />21.74 $ 195,798 19 J 8 <br />15.01 $ 159,334 16.10 <br />4.11 41,420 4.18 <br />2.62 $( 4,956) ( .50) <br />_OS 8,OI4 081 <br />_� �_3�5$ ��31 <br />IV <br />$1,124,148 <br />858,459 <br />$ 265,689 <br />$ 156,073 <br />42,C83 <br />$ 67,533 <br />1,941 <br />�� <br />lOJ.00 <br />76.37 <br />23.53 <br />13.8f; <br />3 . i4 <br />