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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 />� Se�tember 30, 2009 (unaudited). <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <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 $ 935,389 50.3% 48.8% 1.6% <br />1,749,495 1,100,547 62.9% 70.9% -8.0% <br />53,000 39,623 74.8% 115.1% -40.3% <br />38,500 15,360 39.9% 17.0% 22.9% <br />6,500 - 0.0% 0.0% 0.0% <br />44,050 36,297 82.4% 84.2% -1.8% <br />$ 3,750,045 $ 2,127,216 <br />3,750,045 <br />$ 3,750,045 <br />2,526,773 <br />$ 2,526,773 <br />56.7% 59.7% -3.0% <br />67.4% 70.8% -3.4% <br />n/a n/a n/a <br />67.4% 70.8% -3.4% <br />Comments: <br />Recreation Fund revenues and expenditures are below expected levels. Revenues were slightly lower due <br />to 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 />