2021 Annual Comprehensive Financial Report

Schedule 18

Economic Development Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2021

Variance Positive (Negative)

Final

Budget

Actual

Revenues:

Investment Income (Loss)

$

$

(1,984)

$

(1,984)

Appropriated Fund Balance

95,338

(95,338)

Total Revenues

95,338

(1,984)

(97,322)

Expenditures:

Economic Opportunity: Economic Development Administration

29,171 66,167

8,309 66,132

20,862

Community Partners Funding

35

Total Expenditures

95,338

74,441

20,897

Excess of Revenues Under Expenditures

$

(76,425)

(76,425)

Fund Balance - July 1

589,528

589,528

Fund Balance - June 30

$

513,103

$

513,103

Reconciliation of Budgetary Basis to GAAP Basis: Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing (Uses) Difference in Loan Treatment Required by Governmental Accounting Standards Beginning Balance - July 1

$

513,103

720,462 (31,829) 1,201,736

Current Year Activity Fund Balance - June 30

$

-74-