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Recreation Fund Summary <br />. The following table depicts the 2009 financial activity for the Recreation Fund for the fiscal period ending <br />� March 31, 2009 (unaudited). <br />Revenues <br />General property taxes <br />Charges for services <br />Rentals / Lease <br />Donations <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Recreation <br />Other <br />Total Expenditures <br />2009 2009 % % <br />Bud�et Actual Actual Expect. Diff. <br />$ 1,858,500 $ - 0.0% 0.0% 0.0% <br />1,749,495 368,009 21.0% 26.0% -4.9% <br />53,000 11,495 21.7% 28.6% -6.9% <br />38,500 510 1.3% 3.4% -2.1% <br />6,500 - 0.0% 0.0% 0.0% <br />44,050 5,938 13.5% 54.6% -41.1% <br />$ 3,750,045 $ 385,952 10.3% 13.2% -2.9% <br />3,750,045 682,502 18.2% 19.9% -1.7% <br />- - n/a n/a n/a <br />$ 3,750,045 $ 682,502 18.2% 19.9% -1.7% <br />Comments: <br />Recreation Fund revenues and expenditures are at expected levels. Revenues were slightly lower due to <br />reduced program fees and facility rentals. Expenditures were lower due to personnel vacancies. <br />The Recreation Fund is currently in fair financial condition with a cash reserve of $429,000 or 12% of the <br />annual operating budget. The Council-adopted policy recommends a reserve level of 25%. Additional <br />reserves will be needed to ensure program stability. Absent the elimination of some non-fee programs, <br />additional property t�es remain the most viable option for improving the overall condition. <br />Page 7 of 14 <br />