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SUBJECT: RESOLUTION NO. 51, SERIES 2020 <br />DATE: JULY 14, 2020 PAGE 3 OF 5 <br />FISCAL IMPACT: <br />The proposed amendment reduces the City's total expenditure budget by a net of <br />$2,461,540. The proposed amendment reduces the City's total revenue budget by a net <br />of $5,063,080. <br />The following table presents a summary of the budget amendment by fund along with the <br />projected ending fund balances and targeted ending fund balances, where appropriate. <br />Ending fund balance amounts for proprietary and internal service funds are represented <br />by a working capital calculation. <br />Fund <br />Description <br />Net <br />Adjustment To <br />Revenue <br />Budget <br />Net <br />Adjustment To <br />Expenditure <br />Budget <br />Projected <br />Ending <br />Fund <br />Balance <br />Targeted <br />Ending <br />Fund <br />Balance <br />General Fund <br />f2.506.360j <br />f708.620j <br />8.374.746 <br />3.495_260 <br />Open Space & Parks Fund <br />(.173.400) <br />f230.230:, <br />2.998.619 <br />422_763 <br />Conservation Trust - Lottery Fund <br />(.116.310) <br />- <br />2.320 <br />N/A <br />Historic Preservation Fund <br />(67.850) <br />(2_720) <br />2_626.197 <br />NA <br />Recreation Fund <br />(1.067.310) <br />(956.460) <br />1.452_940 <br />1.449.881 <br />Capital Projects Fund <br />(630.090) <br />(773.360) <br />1,993.936 <br />N/A <br />Recreation Center Construction Fund <br />- <br />270.000 <br />0 <br />NA <br />Water Utility Fund <br />(387.920) <br />2_460 <br />11,761.365 <br />1.196,565 <br />Wastewater Utility Fund <br />(18,660) <br />(133_230) <br />6-188.567 <br />896-996 <br />Storm Water Utility Fund <br />(109.970) <br />(2,770) <br />467,880 <br />157.616 <br />Solid Waste & Recyclling Fund <br />96.120 <br />(7.120) <br />205.073 <br />N/A <br />Golf Course Fund <br />218.570 <br />80.510 <br />251.002 <br />249.048 <br />Technology Management Fund <br />(55.050) <br />- <br />167.312 <br />NA <br />Fleet Management Fund <br />(254.860) <br />- <br />676.714 <br />N/A <br />Totals <br />(5,063,080j <br />2,461,540) <br />The next table summarizes the projections of revenue, expenditures, and fund <br />balances/working capital for all funds for 2020. These projections are based on the <br />current budgets as adjusted for the proposed amendments. <br />CITY COUNCIL COMMUNICATION <br />