FY 17 Annual Report
Restricted Cash Funds
2017
CITY OF SPENCER, IOWA
STREET IMPROVEMENT RESERVES
FUND #054
FUND INFORMATION The Street Improvement Reserve Fund was established to account for revenues and expenditures for future street improvement projects. Primary fund comes from the City's Local Options Sales Tax receipts. This fund cannot be used for general street maintenance and/or operations of the Street Department. Primary expenditures from this fund are transfers to the Capital Project Fund to pay the street portion of capital projects. In FY17, RUT transferred $200,000 to the Street Imp Reserve fund for specific street projects. In addition, excess money from several previous street projects was returned to the fund from the Capital Projects fund. Projects funded in FY17 include the E 4th Street, 4th Ave Pre-CDBG, 2016 Sealcoat, 2016 PCC Patching, 2016 Crack seal, 2017 PCC Patching and the 2017 Sealcoat projects.
CURRENT BUDGET
YEAR TO DATE
% OF
FY 2016 ACTUAL
ACTUAL
BUDGET
REVENUES
USE OF MONEY MISCELLANEOUS OTHER FINANCING
3,000.00
6,470.84
215.69
- 350,000.00 6,544.29
-
-
-
450,000.00
691,856.69
153.75
TOTAL REVENUES
453,000.00
698,327.53
154.16
356,544.29
EXPENDITURES CAPITAL OUTLAY
190,000.00 373,600.00
-
-
1,234.14 346,684.85 347,918.99
TRANSFERS
387,617.54
103.75
563,600.00
387,617.54
68.78
TOTAL EXPENDITURES
Fund Balance
INCREASE / (DECREASE)
BALANCE
BALANCE
REVENUES
EXPENDITURES
JULY 1, 2015
JUNE 30, 2016
310,709.99
641,007.46
698,327.53
387,617.54
951,717.45
RESTRICTED CASH
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