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REQUEST FOR COUNCIL ACTION
<br />cojjwrn meeting
<br />MAY t 3 2002
<br />CITY Ol^ ORONO
<br />DATE; May 13.2002
<br />ITEM NO:
<br />Department Approv al:
<br />Name Tom Kuchn
<br />Title Finance Director
<br />Administrator Res iewed: Agenda Section:
<br />City Administrator's
<br />______________Report__________
<br />Item Description: 2001 General and Special Revenue Funds Budget Amendments
<br />General Fund Budget Amendments
<br />The total General Fund revenues for 2001 are $4,448,304, compared 'o the total expenditures
<br />of $4,532,279. fotal expenditures exceeded total revenues for the year hy $83,975, and the
<br />fund balance decreased from $1,513,976 on 12/31/00, to $1,419,733 on 12/31/01. or a
<br />decrease of 6.25%. This is mostly due to the purchase of one piece of propeity at a cost of
<br />$160,961.
<br />The fund balance of the General Fund at 12/31/01 is 30.8% of the 2002 General Fund
<br />expenditure budget. This is 14% lower than the desired year-end fund balance level of 45%
<br />of the budget. The fund balance should be restored to the desired level w'hen sale of certain
<br />city owned property occurs.
<br />I. General Fund Revenues
<br />The year-end revenue for the General Fund is $4,448,304. compared to the budget of
<br />$4,290,440, a favorable variance of $157,866. There are several revenue sources which
<br />exceed the budget by significant amounts, and should be adjusted to match the expenditure
<br />areas that generate or use those revenues. The revenue budget amendments total $ 1 52.550,
<br />and affect the revenue sources as shown below. The amended General Fund revenue budget
<br />will be $4,442,990, and the actual revenue will exceed the amended budget by $5,314.
<br />(Please note that only the revenue items with budget amendments are listed, and those items
<br />only add up to the total indicated at the bottom of the Amendment column).
<br />Final Amended
<br />Rev enue Source Original Amendment Budget
<br />Building Pennits $ 233,500 $ 50,000 $ 283,500
<br />General and Other Permits 61,500 4,500 66.000
<br />Federal COPS Grant 72,500 16,500 89,400
<br />Police Town Aid 110,000 (15,000) 95,000
<br />Administrative Charges 57,520 42,150 99,670
<br />Plan Checlc^Site Exam Fees 120,000 40,000 160,000
<br />Conditional Use/Subd. Fees 40,000 5,000 45,000
<br />Police Special Services 40,000 11,500 51,500
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