2018 Supplemental Budget Report - Laserfiche WebLink

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Some notes regarding the preceding table: • The General Fund reserves are expected to remain relatively flat from 2017 through 2018. The projected ending fund balance of $6.8 million equals 34% of net expenditures, well above the targeted level of 20%. • The Open Space & Parks Fund reserves are projected to decline by $700,000 during 2018, but the projected ending fund balance of $1.1 million is well above the minimum fund balance of $369,000. • The Capital Project Fund reserves are projected to decline by $1.2 million during 2018, but should remain at approximately $1.8 million by the end of 2018. • The Recreation Center Construction Fund is projected to spend down all the bond proceeds by the end of 2018 and complete the Recreation Center Project. • The Library Debt Service Fund is projected to completely defease the 2004 General Obligation Library Bonds during 2018. • The Consolidated Utility Fund (Water, Wastewater, and Storm Water Funds) reserves are projected to increase by $400,000 to $17.5 million at the end of 2018. Ending reserves for all the individual utility funds are projected to remain in compliance with the City's Reserve Policy. • The Golf Course Fund is projected to increase its reserves by approximately $77,000 during 2018. FUND FINANCIAL FORECASTS Staff has incorporated the revenue projections, the operating expenditure targets, the interfund transfer projections, and the updated C -I -P projections outlined in the preceding discussion, along with some other operational adjustments and budget corrections, to create long-term financial forecasts for the major operating and capital funds. General Fund Long -Term Forecast Incorporating the revenue projections, the operating expenditure targets, the interfund transfer projections, and the updated C -I -P projections outlined in the preceding discussion, the following graph summarizes a history and projection of revenue, expenditures, and fund balances for the General Fund. 10