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City of <br /> Pequot <br /> Lakes= <br /> 2014 YEAR END BUDGET HIGHLIGHTS <br /> The 2014 year end cash balances are as follows. <br /> General Fund $ 1,206,071.17 <br /> Bobber Water Tower Fund $ 11,293.95 <br /> Library Fund $ 146,001.70 <br /> Forfeiture (Alcohol) Fund $ 6,358.37 <br /> Forfeiture (Non-Alcohol) Fund $ 174.17 <br /> Park Dedication Fund $ 28,699.44 <br /> Cemetery Fund $ 58,774.54 <br /> Fire Fund $ 129,103.54 <br /> Fire Relief Fund $ 8,517.64 <br /> G O Equip Cert 2010A Fund $ 33,906.19 <br /> Business Park Fund $ 312,004.42 <br /> Highway 371 Fund $ 246,529.21 <br /> TIF 1-7 Babinski $ 25,416.95 <br /> TIF 1-9 Wild Daisy $ 2,957.05 <br /> Water Fund $ 520,298.66 <br /> Sewer Fund $ 808,809.13 <br /> WAC Fund $ 41,206.02 <br /> SAC Fund $ 90,883.40 <br /> TOTAL $ 3,677,005.55 <br /> The general fund capital outlay and council contingency carryover monies remaining at year end total $154,722.58. The <br /> City's Accounting and Reporting Policy states, "the City will commit fund balance in the general fund of up to 50% of the <br /> following year's general fund budgeted expenditures for cash flow purposes". In the following breakdown, the City is at <br /> 58% fund designation. At the end of 2013, the City was at 54%fund designation. <br /> -2014 General Fund cash balance $ 1,206,071.17 <br /> -Capital Outlay/Council Contingency Carryover monies remaining (see attached) $ 154,722.58 <br /> -Adjusted 2014 General Fund cash balance $ 1,051,348.59 <br /> -2015 General Fund Budget $ 1,806,238.00 <br /> For 2014, the General Fund expenditures exceeded revenues by$69,120. This was due to several expenditures that <br /> used fund balance or capital outlay carryover funds. <br />