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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
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Council Agenda/Packets
Meeting Date
11/30/2020
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Attachment D <br />Community Development Fund Summary <br />The following table depicts the 2020 financial activity for the Community Development Fund for <br />the fiscal period ending September 30, 2020 (unaudited). <br />20202020%% <br />Revenues <br />BudgetActualActualExpect.Diff. <br />Intergovernmental Revenue-$ -$ <br />Licenses & Permits1,630,135 1,613,185 99.0%96.6%2.3% <br />Other23,125 6,755 29.2%50.0%-20.8% <br />Interest earnings25,000 28,654 114.6%350.3%-235.7% <br />Total Revenue1,678,260$ 1,648,594$ 100.7%87.7%13.0% <br />Expenditures <br />Community Development1,696,300 1,196,482 70.5%64.2%6.4% <br />Total Expenditures1,696,300$ 1,196,482$ 70.5%64.2%6.4% <br /> <br />Comments: <br />Community Development Fund revenues are tracking as expected in some areas. There continued <br />to be strong building permit activity in the first part of the year, with minimal impact from COVID. <br />The third quarter was seeing a slowing of activity. Expenditures are near expected levels. <br /> <br />The Community Development Fund is currently in excellent financial condition with $3.5 million <br />in available cash reserves or 207% of the annual operating budget. The strong reserves will help <br />mitigate any declines in building activity in the future. The CityÓs Cash Reserve Policy establishes <br />a target reserve level of 25-50% for this Fund excluding any long-term capital replacement needs. <br /> <br /> <br />Page 7 of 13 <br /> <br />
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