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10.04 - 2015 Year End Financial Report
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10.04 - 2015 Year End Financial Report
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City Of <br /> Pequot <br /> Lakes — <br /> 2015 YEAR END BUDGET HIGHLIGHTS <br /> The 2015 year end cash balances are as follows. <br /> General Fund $ 1,160,737.50 <br /> Bobber Water Tower Fund $ 10,687.70 <br /> Library Fund $ 185,979.84 <br /> Forfeiture(Alcohol) Fund $ 1,389.33 <br /> Forfeiture(Non-Alcohol) Fund $ 315.53 <br /> Park Dedication Fund $ 24,802.39 <br /> Cemetery Fund $ 61,025.93 <br /> Fire Fund $ 75,292.45 <br /> G O Equip Cert 2010A Fund $ 227.76 <br /> G O Equip Cert 2014A Fund $ 42,609.11 <br /> Business Park Fund $ 327,713.02 <br /> Highway 371 Fund $ 167,471.85 <br /> TIF 1-7 Babinski $ 27,352.51 <br /> TIF 1-9 Wild Daisy $ 3,090.55 <br /> Water Fund $ 581,431.71 <br /> Sewer Fund $ 891,455.97 <br /> WAC Fund $ 44,406.52 <br /> SAC Fund $ 97,800.53 <br /> TOTAL $ 3,703,790.20 <br /> The General Fund capital outlay and council contingency carryover monies remaining at year end total $148,589.67. 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 /> 55%fund designation. At the end of 2014, the City was at 58%fund designation. <br /> -2015 General Fund cash balance $ 1,160,737.50 <br /> -Capital Outlay/Council Contingency Carryover monies remaining (see attached) $ 148,589.67 <br /> -Adjusted 2015 General Fund cash balance $ 1,012,147.83 <br /> -2016 General Fund Budget $ 1,844,587.00 <br /> For 2015, the General Fund expenditures exceeded revenues by$19,341. This was due to several expenditures that <br /> used fund balance or capital outlay carryover funds. <br />
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