FY 17 Annual Report
Restricted Cash Funds
2017
CITY OF SPENCER, IOWA
LIBRARY RESERVES
FUND #045
FUND INFORMATION
This fund accounts for revenue and expenses related to maintaining and improving the Spencer Public Library. Revenues for this fund are primarily generated from unused operational funds. In FY17, the Library Reserves began receiving a direct allocation from Hotel-Motel Tax receipts to fund a Capital Improvement program for the Library. In the past, the Library did not have a direct source of funding for Capital projects. In FY17, the Library replaced heat pumps for the HVAC system, as well as making final payment on the LED lighting upgrade that was started in FY16. Other projects included commissioning a space study to investigate how to use current library space more efficiently and the replacement of the chairs used in the round room.
CURRENT BUDGET
YEAR TO DATE
% OF
ACTUAL FY 2016
ACTUAL
BUDGET
REVENUES
USE OF MONEY
500.00
865.84
173.17
1,058.99 - 1,058.99
OTHER FINANCING
25,000.00
25,000.00
-
TOTAL REVENUES
25,500.00
25,865.84
101.43
EXPENDITURES CAPITAL OUTLAY
60,000.00
21,263.00
- -
- 10,000.00 10,000.00
TRANSFERS
-
-
60,000.00
21,263.00
-
TOTAL EXPENDITURES
Fund Balance
INCREASE / (DECREASE)
BALANCE
BALANCE
REVENUES
EXPENDITURES
JULY 1, 2016
JUNE 30, 2017
108,730.55
25,865.84
21,263.00
113,333.39
4,602.84
RESTRICTED CASH
Made with FlippingBook - professional solution for displaying marketing and sales documents online