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2020_1130_CCPacket
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2020_1130_CCPacket
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1/13/2022 1:09:18 PM
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Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
11/30/2020
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Attachment D <br />Recreation Fund Summary <br />The following table depicts the 2020 financial activity for the Recreation Fund for the fiscal period <br />ending September 30, 2020 (unaudited). <br />20202020%% <br />Revenues <br />BudgetActualActualExpect.Diff. <br />General Property Taxes2,839,015$ 1,529,022$ 53.9%52.3%1.6% <br />Charges for Services2,118,275 753,360 35.6%67.0%-31.4% <br />Rentals & Leases71,000 17,029 24.0%93.9%-69.9% <br />Donations45,500 19,424 42.7%86.1%-43.4% <br />Other22,000 18,607 84.6%75.0%9.6% <br />Interest earnings15,000 7,218 48.1%394.3%-346.2% <br />Total Revenue5,110,790$ 2,344,660$ 45.9%61.7%-15.8% <br />Expenditures <br />Recreation5,110,790 2,911,512 57.0%67.8%-10.8% <br />Total Expenditures5,110,790$ 2,911,512$ 57.0%67.8%-10.8% <br /> <br />Comments: <br />Recreation Fund revenues and expenditures are below expected levels as impacted by closures due <br />to COVID. <br />The Recreation Fund had $1,277,698 in available cash reserves for operational needs or 25% of <br />the annual operating budget as the beginning of 2020. Current estimates indicate that the fund <br />could end the year with revenues down $1.2 million and expenditures down $850,000, net impact <br />would reduce the fund balance by $350,000, which would leave an 18% reserve. The CityÓs Cash <br />Reserve Policy establishes a target reserve level of 25% for this Fund. <br />Page 4 of 13 <br /> <br />
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