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Attachment C
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<br />General Fund Ending Balance Classifications The General Fund Ending Fund Balances for FY17 and FY18 are shown below according to the classifications in the CAFR. This chart shows the components of the Ending Fund Balance and how they have changed from FY17 to FY18. It is important to remember that, although at June 30, 2018 there was a portion of fund balance that was considered, under accounting rules, to be “Unassigned”, that amount is recommended to be appropriated by City Council on Supplemental Budget #1 and will no longer be available for spending.
<br /> General Fund Ending Balance Classifications (FY17 and FY18) Category Item Explanation FY17 FY18 Non-Spendable Prepaids and deposits have already been paid out and are not available for other spending $1,200,987 $1,512,034 Restricted Cultural Services From Transient Room Tax; must be spent according to state law. 1,336,519 921,003
<br />Assigned Unappropriated Ending Fund Balance Pay bills and payroll until property taxes are received in November; set at 2 months of expenditures per Council policy 25,330,000 25,990,000 Cultural Services Prudent reserve for operation of Hult Center, etc. 1,689,848 1,392,549 Reserve for Encumbrance Contracts that were in effect but not complete as of June 30 2,147,882 1,940,790 Reserve for Next Year’s Spending Used to balance the subsequent year’s budget 3,576,809 227,017 Reserve for Revenue Shortfall Prudent reserve for the General Fund; target is 8% of expenditures 18,554,586 20,529,818 Other Reserves For property tax appeals, excess local marijuana, and equipment replacement 1,351,054 1,000,097
<br />Unassigned Appropriated on supplemental budget #1 in December of the subsequent year and no longer available for spending 5,184,963 11,420,867
<br /> Total Fund Balance $60,372,648 $64,934,175 Source: CAFR Exhibit 3, page 27, and CAFR Note (1)(P), page 44-45 (FY17). Source: CAFR Exhibit 3, page 29, and CAFR Note (1)(Q), page 47-48 (FY18).
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<br />December 10, 2018, Meeting - Item 2D
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