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HomeMy WebLinkAboutGeneral Fund Balance Carryover.pdfGeneral Fund Balance Carryover Final Budget 2017 2018 Fund Balance as of beginning of year 4,065,746$ 4,353,533$ Less Set Aside-Investment Set Aside-Finance Software (135,700)$ (175,700)$ Actual/Forecast/Budgeted Carryover(shortage)423,487$ (207,500)$ Net as of end of the year 4,353,533$ 3,970,333$ Expenditures including contingency 10,593,292$ 11,727,800$ Less Contingency n/a (136,000)$ Net Expenditures 10,593,292$ 11,591,800$ Minimum Reserve % of Expenditures:25%2,648,323$ 2,897,950$ Amount Above Minimum Reserve:25%1,705,210$ 1,072,383$ Actual Percentage 41.10%34.25% Maximum Reserve % of Expenditures 33%3,495,786$ 3,825,294$ Amount over/(Under) 33%857,747$ 145,039$ 2018 2019 General Fund Transfers-Subsidies Forecast Budget FUND TFR -GOLF OPERATIONS 49,700 39,100 FUND TFR - TRAILS FUND 25,000 FUND TFR - VETERANS MEMORIAL TRUST FUND 500 FUND TFR -LEGACY FLIGHT MUSEUM 10,500 10,500 FUND TFR -AIRPORT CONSTRUCTION 10,000 10,000 FUND TFR -POLICE IMPACT FEE FD 0 0 FUND TFR -PLANNING & ZONING 293,600 315,000 FUND TFR -REXBURG CULTURAL ART 31,900 34,700 FUND TFR -E I BUSINESS COMP 7,000 6,000 FUND TFR -MAYOR'S YOUTH ADV BD 3,500 1,500 FUND TFR-GOLF CON.LOAN PAYBACK 20,000 25,000 FUND TFR- AIRPORT OPERATIONS 2,000 2,000 FUND TFR -ROMANCE/FUND 30 74,500 181,200 FUND TFR -DARE/FUND 09 FOR DEF 8,500 8,500 FUND TFR -RECREATION 83,000 99,500 FUND TFR -TABERNACLE 191,800 153,000 FUND TFR -JOINT FIRE EQUIP 35,000 35,000 FUND TFR AIRPORT RELOC.RESERVE 169,400 100,000 FUND TFR -ANIMAL CONTROL FUND 159,200 186,700 FUND TFR -REXBURG ORCHESTRA 7,500 5,000 FUND TFR -JOINT FIRE OPERATION 997,300 1,150,000 FUND TFR -R RAPIDS CAP REPLACE 65,000 60,000 2,219,400$ 2,448,200$ Street Funds Fund Description Fund 2018 Forecasted Carryover 2019 Budgeted Carryover Accounts Receivable 5/23/18 Notes Street Operations 2 -$ -$ 52,000$ Street Impact 33 1,194,200$ 999,200$ Street Repair 43 1,302,500$ 1,280,600$ 428,896$ New Street Construction 44 -$ -$ -$ Total 2,496,700$ 2,279,800$ 480,896$ Total Available Cash/Investments 2,015,804$ Sanitation Fund 2018 2019 Fund Description Fund Year End Forecasted Reserve* Year End Budgeted Reserve*Notes Sanitation Operations 25 856,857$ 496,657$ Water Funds 2018 2019 Fund Description Fund Year End Forecasted Reserve* Year End Budgeted Reserve*Notes Water Operations 26 6,729,032$ 6,371,032$ Water Capital Reserve 34 1,756,000$ 1,631,300$ Water Capital Construction 42 -$ Water Line Extension 46 -$ Total 8,485,032$ 8,002,332$ Wastewater Funds 2018 2019 Fund Description Fund Year End Forecasted Reserve* Year End Budgeted Reserve*Notes Sewer Operations 27 2,888,737$ 1,343,837$ Sewer Capital Reserve 35 (56,900)$ -$ Sewer Plant Construction 52 -$ -$ Sewer Line Extension 46 -$ -$ Total 2,831,837$ 1,343,837$ *Cash/Investments/Net Accounts Receivable Transfer in from Fund 26 & loan proceeds to zero out fund Doing in Fund 26 until Water Upgrade Project closed out in Rates TBD-Projected to increase up to 9.7% for typical resident. Funding from Sugar/Teton/Developers with Clawback TBD for Gravity Line ($2 M) Will be exhausted by bond payment/expansion projects Transfer in from Fund 27 and 35 to zero out fund Doing in Fund 27 until WW Plant Final Phase Project closed out Transfer to street repair fund at Yearend Mostly URA Receivable 2nd W and 1st N-Should get another paydown in FY18 and be paid back if land sells Rates TBD-Projected to increase 5.6% or more for typical resident Will have to decide what to pay on DEQ Loan once finalized Large Drop from the purchase of 3 garbage trucks in 2018-2019