HomeMy WebLinkAboutCommunication received during the meeting (2) •
Goal #1: Report the General Fund Operating Surplus for the prior Fiscal Year at Mid-Year Budget Review
FY 12-13 FY 13-14 FY 14-15 FY 15-16 FY 16-17
GF Operating Surplus in
Adopted Budget $99,815 . $523,000 $21,200 $48,200 $16,900
Actual GF Operating Surplus $1,260,800 $1,707,438 $725,831* $896,399 ????
Goal #2: Maintain a General Fund Operating Surplus at a minimum of 2-3% of Total General Fund Revenues.
Goal #3: Complete a fiscal analysis to determine whether a General Fund Operating Surplus in the range of 2-3%
of Total General Fund Revenues is sufficient to ensure the City's long-term fiscal stability
*FY 14-15 Operating Expense was decreased by the"contractor draw for invoices of$885,745'which was included in the lease payment of$944,318 for the Climatec Debt Service
Payment on page 159.The$885,745 was accounting entry required by auditors.Without this adjustment,FY 14-15 would show an Budget Deficit of$159.328.