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620 Risk and Ben fits Fund
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<br /> FY05 FY05 FY05
<br /> Adopted SB1 Action Revised
<br />I. RESOURCES
<br />
<br /> BEGINNING WORKING CAPITAL 8,106,344 (738,063) a 7,368,281
<br /> CHANGE TO WORKING CAPITAL
<br />
<br /> REVENUE
<br /> Charges for Services 29,867,865 0 29,867,865
<br /> Miscellaneous 417,000 0 417,000
<br /> Interfund Transfers 25,000 1,840,000 b 1,865,000
<br /> Interfund Loans 382,018 0 382,018
<br /> Total Revenue 30,691,883 1,840,000 32,531,883
<br />
<br /> TOTAL RESOURCES 38,798,227 1,101,937 39,900,164
<br />I1. REQUIREMENTS
<br />
<br /> Department Operating
<br /> Central Services 20,154,070 0 20,154,070
<br /> Total Department Operating 20,154,070 0 20,154,070
<br />
<br /> Capital Projects
<br /> Total Capital Projects 0 0 0
<br />
<br /> Non-Departmental
<br /> Debt Service 4,010,550 0 4,010,550
<br /> Interfund Loans 573,026 0 573,026
<br /> Interfund Transfers 177,000 0 177,000
<br /> Reserve 12,643,971 159,986 a 12,803,957
<br /> Balance Available 1,239,610 941,951 a,b 2,181,561
<br /> Total Non-Departmental 18,644,157 1,101,937 19,746,094
<br />
<br /> TOTAL REQUIREMENTS 38,798,227 1,101,937 39,900,164
<br />620 Risk and BenefitsFund
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<br />a) This supplemental request decreases the budgeted Beginning Working Capital by $738,063,
<br />increases the Pension Bond Fund's debt service reserve by $159,986, and decreases Balance
<br />Available by $898,049. The adjustment brings the FY05 Budgeted Beginning Working Capital
<br />in compliance with the audited FY04 actual revenues and expenditures as determined by
<br />Grove, Mueller & Swank P.C., the City's external auditor.
<br />
<br />b) This budget request recognizes a transfer of $1,840,000 from the General Fund to the Risk
<br />Fund in order to increase Balance Available. The Risk Fund faces large outstanding claims for
<br />land use and police officer activity. Although actuary determined reserves have been
<br />established for these claims, it is also important to build Balance Available to an appropriate
<br />level in this fund.
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