CAFR 2016

Schedule 19

Economic Development Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2016

Variance Positive (Negative)

Final

Budget

Actual

Revenues: Taxes:

Ad Valorem Taxes

$

1,271,000

$

1,280,857

$

9,857

Investment Income

76,000

66,965

(9,035)

Charges for Current Services: Principal - Notes and Mortgages

23,056

23,056

Appropriated Fund Balance

304,455

(304,455)

Total Revenues

1,651,455

1,370,878

(280,577)

Expenditures: Economic Opportunity:

Economic Development Administration

102,440 847,015 35,000 892,000

41,927 357,059 35,000 592,000

60,513 489,956

Capital Assistance Pool Aviation Initiatives Downtown Development

300,000

Total Expenditures

1,876,455

1,025,986

850,469

Excess of Revenues Over (Under) Expenditures

(225,000)

344,892

569,892

Other Financing Uses: Transfers In

300,000 (75,000) 225,000

300,000 (75,000) 225,000

Transfers Out

Total Other Financing Sources (Uses )

Excess of Revenues Under Expenditures and Other Financing Uses

$

569,892

569,892

Fund Balance - July 1

597,647

597,647

Fund Balance - June 30

$

1,167,539

$

1,167,539

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

$

1,167,539

837,181

Current Year Activity Fund Balance - June 30

(5,812)

$

1,998,908

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