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General Fund Ending Balance Classifications The General Fund Ending Fund Balances for FY18 and FY19 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 FY18 to FY19. General Fund Ending Balance Classifications (FY18 and FY19) Category Item Explanation FY18 FY19 Non-Spendable Prepaids and deposits have already been paid out and are not available for other spending $1,512,034 $1,730,503 Restricted Cultural Services From Transient Room Tax; must be spent according to state law. 921,003 1,093,903
<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 25,990,000 27,160,000
<br />Cultural Services Prudent reserve for operation of Hult Center, etc. 1,392,549 1,910,091 Reserve for Encumbrance Contracts that were in effect but not complete as of June 30 1,940,790 2,538,610 Other Reserves For property tax appeals, excess local marijuana, and equipment replacement 1,000,097 624,128
<br />Unassigned Reserve for Revenue Shortfall Prudent reserve for the General Fund; target is 8% of expenditures 20,529,818 28,645,079 Reserve for Next Year’s Spending Used to balance the subsequent year’s budget 227,017 (1,915,215)
<br />Other Comprised of a) marginal BWC adjustment that is appropriated on supplemental budget #1 in December of the subsequent year and b) GAAP timing differences 11,420,867 3,242,007
<br />Total Fund Balance $64,934,175 $65,029,106 Source: CAFR Exhibit 3, page 29, and CAFR Note (1)(Q), page 47-48 (FY18). Source: CAFR Exhibit 3, page 25, and CAFR Note (1)(Q), page 43-44 (FY19).
<br />December 9, 2019, Meeting – Item 2CDecember 9, 2019, Meeting - Item 2CCC Agenda - Page 225
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