Laserfiche WebLink
A budgetary system of accounts is maintained for the general and <br />special revenue funds. Control is maintained by the use oi a <br />purchase order system and the continuing review o£ actual <br />expenditures compared to budgeted amounts. Budget revisions are <br />done upon approval of a resolution by the City Council. The <br />financial statements of revenue and expenditures compared with <br />the budget in this report would reflect these revisions. Reserve <br />for encumbrances is reported as part of the fund balance at the <br />end of the fiscal year. <br />General Gover-.�*�nt Functions <br />General Fund <br />The General Fund accounts for all financial transactions not <br />properly accounted for in any other fund. Revenues (including <br />' operating transfers) of the General Fund totaled $5,375,375, an <br />increase of $ 217,203 from 1987. Expenditures (including operat- <br />ing transfers) for the General Fund totaled $5,359,396 a decrease <br />of $91,394 over the previous year. The fund balance increased <br />$15,979 and was $3,201,699 at the end of the year. <br />The fund balance is available to provide working capital for the <br />fund until tax settlements are received in July and December of <br />each year, to provide funds for unknown events which would have <br />an adverse effect on the fund, and to help finance future budg- <br />ets. The City has designated $850,000 of this balance for reve- <br />nue variations, $1,950,000 for working capital, $5,444 for the <br />Employee Welness Program, $280,357 for vacation pay and compensa- <br />tory time off, $37,366 for communications projects, and $33,289 <br />for future expenditures. <br />The amount of revenue from various sources and the changes from <br />last year are shown in the following tabulation: <br />Increase Percent <br />1988 Percent (Decrease) of <br />Revenue Source Amount of Total From 1987 Chanae <br />General property taxes <br />License and permits <br />Intergovernmental <br />revenue <br />Charges for service <br />Fines and forfeits <br />Miscellaneous <br />Transfers <br />Total Revenue <br />$ 1,963,688 36.5� <br />486,112 9.1 <br />1,500,123 27.9 <br />491,733 9.1 <br />113,933 2.1 <br />331,803 6.2 <br />487,983 9.1 <br />S 5,375,375 100.0 <br />$ (68,672) (3.3) <br />(70,639) (12.7) <br />(65,220) (4.l) <br />101,829 26.1 <br />8,317 7.8 <br />24,605 8.0 <br />286,983 142.8 <br />S 217,203 4_2 <br />The major revenue change in 1988 was in transfers. The City did <br />increase the transfers in by $286,983 primarily due to coverage <br />of engineering costs related to the paving management program. <br />5 <br />