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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 />Recycling Fund Summary <br />The following table depicts the 2020 financial activity for the Recycling Fund for the fiscal period <br />ending September 30, 2020 (unaudited). <br />20202020%% <br />Revenues <br />BudgetActualActualExpect.Diff. <br />Intergovernmental Revenue87,500$ 76,578$ 87.5%60.9%26.6% <br />Charges for Services565,800 391,137 69.1%67.2%2.0% <br />Other Miscellaneous- 254 <br />Interest earnings- 238 <br />Total Revenue653,300$ 468,207$ 71.7%68.0%3.7% <br /> <br />Expenditures <br />Recycling643,020 409,306 63.7%78.9%-15.2% <br />Total Expenditures643,020$ 409,306$ 63.7%78.9%-15.2% <br /> <br />Comments: <br />Recycling Fund revenues and expenditures were near expected levels overall. The Recycling Fund <br />is currently in fair financial condition with only an 8% cash reserve level at the end of 2019. A <br />significant rate increase was implemented in 2020 which was necessary to provide for future <br />operations. A more moderate increase is proposed for 2021. <br />Final Comments <br />The CityÓs overall financial condition remains strong; however a number of concerns remain. The <br />CityÓs cash reserve levels in certain operating units may drop below recommended levels. <br />However, the creation of the cash reserve fund may be able to bring those operating units back to <br />minimum levels. The City has actively monitored reserve levels and has implemented procedures <br />to ensure adequate reserves are available to weather any storm or pandemic. <br /> <br />Page 13 of 13 <br /> <br />
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