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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 />� June 30, 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 />1,749,495 832,053 47.6% 51.3% -3.8% <br />53,000 20,953 39.5% 59.3% -19.8% <br />38,500 510 1.3% 17.8% -16.5% <br />6,500 - 0.0% 0.0% 0.0% <br />44,050 9,559 21.7% 61.7% -40.0% <br />$ 3,750,045 $ 863,074 <br />3,750,045 1,515,614 <br />$ 3,750,045 $ 1,515,614 <br />23.0% 26.0% -2.9% <br />40.4% 44.3% -3.9% <br />n/a n/a n/a <br />40.4% 44.3% -3.9% <br />Comments: <br />Recreation Fund revenues and expenditures are near 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 />