Laserfiche WebLink
Interest earnings are allocated to each fund based on monthly fund balances. The amount <br />allocated will be adjusted to reflect the market value of investments on 12/31/2015. A listing of <br />investments at year end is included for your review. <br /> <br />Expenditures <br /> <br />The overall General Fund expenditure amounts are currently at 95.4% of budget. This figure is <br />based on actual expenditures to date, with an estimated amount added for expenditures that have <br />not yet been processed. Three departments are over their expenditure budgets and will require <br />budget adjustments. At 147.94% of budget, the Special services department was significantly <br />over budget. However, this department is used to account for expenditures that are largely <br />passed through to the parties that received the service. The offsetting revenue lines for Police <br />Special Services and Engineering & Legal fees cover the expenditures. The Golf Course is over <br />budget by $10,160 (106.87%). The overage in Golf Course revenues ($68,186) offsets the <br />entire overage. The Assessing department is over budget by $6,074 at 103.8% of budget. This is <br />the result of a higher than anticipated level of new construction which incurs additional one time <br />charges from the County. All other departments were either at or below budgeted amounts. <br /> <br />Budget adjustments for the departments that are over budget will be prepared for the Council’s <br />approval at the February 8th meeting. The overall expenditure budget will not be increased; the <br />increases to the individual department budgets will be offset by budget reductions to other <br />departmental budgets. <br /> <br />COUNCIL ACTION REQUESTED: <br /> <br />No action required.