HomeMy WebLinkAboutUpdated General Fund Balance Carryover after reforecasting and receiving 3rd quarter sales tax-as of 8-5-20General Fund Balance Carryover Forecasted Initial Request After Final Cuts
Final Final Budget Budget
2019 2020 2021 2021
Fund Balance as of beginning of year 4,744,203$ 5,228,231$ 5,083,531$ 5,083,531$
Less Investment Set Aside-Finance Software (215,700)$ (255,700)$ (315,700)$ (305,700)$
Actual/Forecast/Budgeted Carryover(shortage) 484,028$ (144,700)$ (1,140,800)$ (734,100)$
Net available as of end of the year 5,012,531$ 4,827,831$ 3,627,031$ 4,043,731$
Expenditures including contingency 11,912,962$ 13,077,200$ 13,652,500$ 13,464,400$
Less Contingency n/a -$ (150,000)$ (150,000)$
Net Expenditures 11,912,962$ 13,077,200$ 13,502,500$ 13,314,400$
Minimum Reserve % of Expenditures:25%2,978,241$ 3,269,300$ 3,375,625$ 3,328,600$
Amount Above Minimum Reserve: 25% 2,034,291$ 1,558,531$ 251,406$ 715,131$
Actual Percentage 42.08% 36.92% 26.86% 30.37%
Maximum Reserve % of Expenditures 33%3,931,277$ 4,315,476$ 4,455,825$ 4,393,752$
Amount over/(Under) 33% 1,081,254$ 512,355$ (828,794)$ (350,021)$
Fund Balance Carryover in Budget Revenue $ 322,400 $ 882,500 TBD $ 734,100