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SUBJECT: <br />BUDGET RETREAT <br />DATE: <br />JULY 12, 2018 <br />PAGE 4OF17 <br />Consolidated Utility Fund <br />2017 Projections & 2017 Audited Actuals <br />2017 <br />Projection Actual Variance <br />Beginning Working Capital 28,20.6,188 28,206,187 <br />Plus: Revenue <br />Less: Expenditures <br />16,521.620 16. 623. 866 102,246 <br />(27,586.762) (19.626.040) 7,960,722 [1] <br />Ending Working Capital 17,141,046 25,204,014 8,062,968 <br />Adjustment for Carry Forward Amendment <br />Net Variance <br />(6.344.000) <br />1,718,968 <br />[1] Equates to a 38% 'Turnback" (i.e.. 38% positive actual -to -budget variance) <br />Equates to a 29% positive actual -to -projection variance <br />Golf Course Fund <br />2017 Projections & 2017 Audited Actuals <br />2017 <br />Pro'ection Actual Variance <br />Beginning Working Capital 158,792 158,792 <br />Plus: Revenue <br />Less: Expenditures <br />Ending Working Capital <br />1,604_920 1.539.549 (65.371) <br />(1,460,618) (1.411.543) 49.075 [1] <br />303,094 286,798 16,296) <br />Adjustment for Carry Forward Amendment <br />Net Variance <br />16,6} <br />[1] Equates to a 5% "Turnback" (i.e.. 5% positive actual -to -budget variance) <br />Equates to a 3% positive actual -to -projection variance <br />CITY COUNCIL COMMUNICATION <br />5 <br />