R2007-54 APPROVING THE ANNUAL BUDGET

Home Browse Search

• Pa�e 77- Bud�et Detail —Debt Service Fund—Adjusted the revenue to reflect a �I reduction of $186,458 in real estate taxes and an offsetting increase in the � , amount of money being transferred from the General Fund. Total revenue for ' ' Debt Service Fund did not change. • Pa�e 108 — Bud�et Detail — MIS Capital Fund — Increased the budget by i $160,074 to correct an error in the original budget. In preparing the budget, the I FY07 was rolled over by mistake, and that was not adequate to cover the I anticipated expenses in FY08. II • Page 1 —Annual Budget—Expenses—Non-Departmental budget increased from I $3,978,878 to $4,240,336. Changes were detailed above. ��, • Pa�e 1 — Annual Budget — Expenses — Total General Fund budget increased I�, from $52,223,398 to $52,484,856, which is an increase of$261,458. �i • Pa�e 2 — Annual Bud e�t — Expenses — Letter of Credit Project Fund increased ', by $650,000 to $3,460,000. Changes are detailed above. II • Pa�e 2 —Annual Bud et�—Expenses—MIS Capital Fund increased by $160,074 '� to $514,203. � • Pa�e 2—Annual Bud et�—Expenses—Total—All Funds and Net Expenses both increased with Net Expenses increasing by $885,074 to $124,876,959. • Pa�e 3 — Annual Bud�et — Revenues — General Fund revenues went down by $3,654 to $50,777,203. • Pa�e 3 — Annual Bud�et — Revenues — Letter of Credit Project Fund revenues went up by $650,000 to reflect the amount of additional funds that would need to be borrowed to cover the anticipated expenses in the 300 block of North Water and the West Main/Millikin project. • Page 4 - Annual Budget—Revenues—All the totals on this page changed. The Total Resources increased by $885,074 to $124,876,959. The other change that was made on this page was to show the $36.0 million bond issue coming out of the Net Revenues,thereby showing the total resources without the bond issue. • Page 5 —Annual Bud�et—Fund Balance Report—Due to an increase in General Fund expenses the projected Ending Fund Balance as of April 30, 2008 went down $265,112 to $3,892,347. • Pa�e 6 — Annual Bud�et — Fund Balance Report — Net Balances including the $36.0 million bond issue are projected to be $172,119,793, which is down $362,649 from last time.