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111 Library Local Option Levy Fund
<br />FY20 FY20 FY20
<br />Adopted SB1 Action Revised
<br />I.RESOURCES
<br />BEGINNING WORKING CAPITAL 1,939,662 340,664 a 2,280,326
<br />CHANGE TO WORKING CAPITAL
<br />REVENUE
<br /> Taxes 2,589,000 0 2,589,000
<br /> Miscellaneous 60,000 0 60,000
<br />Total Revenue 2,649,000 0 2,649,000
<br />TOTAL RESOURCES 4,588,662 340,664 4,929,326
<br />II.REQUIREMENTS
<br />Department Operating
<br /> Library, Recreation and Cultural Services 2,477,510 (10,000)b 2,467,510
<br />Total Department Operating 2,477,510 (10,000)2,467,510
<br />Non-Departmental
<br /> Reserve 2,111,152 0 2,111,152
<br /> Balance Available 0 350,664 a,b 350,664
<br />Total Non-Departmental 2,111,152 350,664 2,461,816
<br />TOTAL REQUIREMENTS 4,588,662 340,664 4,929,326
<br />111 Library Local Option Levy Fund
<br />a) Beginning Working Capital Reconciliation: Increase the budgeted Beginning Working Capital by
<br />$340,664 and increase Balance Available by the same amount. This adjustment brings the FY20 budgeted
<br />Beginning Working Capital in compliance with the audited FY19 actual revenues and expenditures as
<br />determined by Isler CPA, the City's external auditor.
<br />b) Encumbrance Estimate Reconciliation: Reduce the Library, Recreation and Cultural Services
<br />Department operating appropriations by $10,000 to reconcile the amount estimated for payment of obligations
<br />incurred but not paid in FY19 to the actual amount paid, and increase Balance Available by the same amount.
<br />December 9, 2019, Meeting – Item 4CC Agenda - Page 302
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