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Community Development Fund Summary <br />. The following table depicts the 2009 financial activity for the Community Development Fund for the fiscal <br />� period ending June 30, 2009 (unaudited). <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />Revenues <br />Licenses & permits <br />Charges for services <br />Fines and forfeits <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />2009 <br />Bud�et <br />$ 1,050,000 <br />10,000 <br />130,000 <br />2009 <br />Actual <br />$ 497,441 <br />69,925 <br />% % <br />Actual Expect. <br />47.4% 57.5% <br />0.0% 0.0% <br />0.0% 0.0% <br />0.0% 0.0% <br />53.8% 28.0% <br />Diff. <br />-10.1% <br />n/a <br />n/a <br />0.0% <br />25.8% <br />$ 1,190,000 $ 567,366 47.7% 55.3% -7.6% <br />Expenditures <br />Community development 1,317,055 588,194 44.7% 44.4% 0.2% <br />Other - - n/a n/a n/a <br />Total Expenditures $ 1,317,055 $ 588,194 44.7% 44.4% 0.2% <br />Comments: <br />Community Development Fund revenues are below expected levels resulting from less building activity and <br />corresponding Licenses and Permit revenues. However, there are a number of large-scale projects that are <br />expected to pull permits in the 3rd and 4t'' quarters. Expenditures are at expected levels. <br />The Community Development Fund is currently in good financial condition with a cash reserve of <br />$404,000 or 33% of the annual operating budget. However the City needs to remain mindful of current <br />economic conditions and the viability of redevelopment opportunities. A sustained slowdown in housing <br />and/or commercial development will impact the Fund's ability to sustain current staffing and service levels. <br />Page 8 of 14 <br />