Resolution 2015 - 11 - Laserfiche WebLink

Home Browse Search

's li I This resolution approves the Fiscal Year 2016 General Fund Budget. The General Fund's operating budget submitted by all departments provides a surplus of$50,700. Total Revenues— General Fund $23,561,000 Total Expenditures —General Fund 23,510,300 Budget surplus $50,700 General Fund — Proposed Budget Projected Final Proposed FY 2015 FY 2016 Beginning Unassigned Fund Balance $ 16,008,000 $ 6,233,000 Projected Revenue 23,234,000 23,561,000 Projected Expenditures (25,169,000) (23,510,300) Ending Fund Balance 14,073,000 6,283,700 Committed Fund Balance (see details) 1 Police Facilities (7,000,000) - 2 City Hall Fire Escape (90,000) - 1 3 Future Flood Buyout (750,000) - Unassigned Fund Balance $ 6,233,000 $ 6,283,700 Fund Balance as a percentage of Annual Expenditures 25% 27%1 At the end of FY 2015, General Fund's expenditures are projected to exceed total revenues by $ 1.9 million. In April 2015, City Council approved transfers from the General Fund's balance of$1.7 million for additional contributions to the Police and Fire and Non-Uniformed Retirement Plans, $200 thousand to fund the Millar Park improvement project, and $126 thousand to fund the cost study for the police facilities building. Below are the details of the Capital Improvement Program. The total program cost of $1,839,000 is funded by the General Funds reserve, Grants, and Economic Development Retail Sales Tax in the amounts of$1,400,000, $389,000 and $50,000, respectively. k Please note that all projects that are funded by Capital Improvement and Park and Storm Water Sales Tax revenues are excluded from this table and resolution. I 4