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LL Cityif CITY COUNCIL COMMUNICATION <br />Louisville AGENDA ITEM 213 <br />COLORADO -SINCE 1878 <br />SUBJECT: 2022 YEAR -IN -REVIEW <br />DATE: JULY 18, 2023 <br />PRESENTED BY: JEFF DURBIN, CITY MANAGER <br />RYDER BAILEY, CPA, FINANCE DIRECTOR <br />SUMMARY <br />As part of the 2023 budget development process, staff reviews Prior Year revenue to <br />expenditure budget to actual variances, and calculates the beginning fund balance for <br />2023. <br />The purpose of this agenda item is to briefly review the variances between the 2022 <br />budgeted and the 2022 actual amounts for the City's main operating funds. The following <br />table summarizes and compares these amounts for the General Fund. <br />Table 1: Beginning and Ending Fund Balances of Major City Funds <br />Fund <br />101 <br />201 <br />207 <br />208 <br />301 <br />501-503 <br />520 <br />2022 Year in Review- B <br />Fund Title <br />General Fund <br />Open Space & Parks Fund <br />Historic Preservation Fund <br />Recreation Center Fund <br />Capital Projects Fund <br />Consolidated Utility Fund <br />Golf Course Fund <br />and EndinLy Fund Balances <br />2022 Beg Fund Balance <br />(Working Capital) - <br />Audited <br />12,495,959 <br />3,828,521 <br />2,978,748 <br />2,136,763 <br />7,S15,210 <br />27,184,B33 <br />535,966 <br />Norking Capital) for Major Funds <br />2022 Ending Fund Balance <br />(Working Capital) - <br />Audited <br />Variance <br />15,567,998 <br />3,082,029 <br />1,578,855 <br />(2,149,666) <br />3,340,021 <br />361,273 <br />3,214,791 <br />1,078,078 <br />11,178,327 <br />3,363,117 <br />31,559,066 <br />4,374,233 <br />598,706 <br />52,740 <br />*- Note — Working Capital (Current Assets Less Current Liabilities is used for Utility and <br />Golf funds) <br />CITY COUNCIL COMMUNICATION <br />