06-25-1990 Council Packet - Laserfiche WebLink

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CITY OF ORONO NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 1989 Note 2. BUDGETS AND BUDGETARY ACCOUNTING (continued) ® Operating Transfer to Building Fund - Due to the anticipated start of construction of new City facilities, the City deter mined that certain funds should be clearly earmarked for that purpose. ® Operating Transfers to Permanent Improvement Revolving Fund - Two transfers were made; one for relocating the emergency con tingency account from the General Fund ($34A,161); and one for partial reimbursement on a joint street/storm sewer project with Hennepin County where the Initial funding of the City's share was provided by the Permanent Improvement Revolving Fund. The revenue budget increases were to recognize the estimated amount of County grant funds for offsetting the initial recycling pick-up program 'osts and to recognize the estimated amount to be collected from the residential recycling customers. For 1989, departmental expenditures exceeded appropriations as follows: General Fund - Legal Police protection Fire protection Emergency preparedness Recycling pick-up Improvement and Equipment Outlay Fund - Finance department General government buildings department Police department Building Capital Outlay Fund - Total expenditures Amount Over Budget $ 3,091 59,889 6,243 252 1,072 1,931 2,091 2,554 2,094 A portion the expenditures in police protection were funded by unbudge*^ad fees for service. Note 3. CASH AND INVESTMENTS Cash balances of all City funds are combined (pooled) and invested to the extent available in Federal Government Securities and various other investments authorize*! by Minnesota State Statutes. Each fund's portion of this pool is shnwu on the financial statements as "cash and investments." Earnings from such Investments are allocated to the individual funds on the basis of the applicable cash balances available by each of the funds during the year, and in accordance with State Statutes. -34- Hi Mm