FY 17 Annual Report

Restricted Cash Funds

2017

CITY OF SPENCER, IOWA

COMMUNICATION CENTER RESERVES FUND INFORMATION

FUND # 047

The City established the Communication Center Reserve fund as a way to set aside money for future improvements to the 911 Communication Center. The 911 Communication Center is owned and operated by a joint effort of the City of Spencer and Clay County, with costs shared 50-50. This fund cannot be used for general operational expenses of the Communication Center. Employees of the Communication Center are employees of the City of Spencer. The reserve fund allows the City to set aside money for the City's share of any future capital improvements.

In FY17, the heat pumps related to the HVAC ssytem needed to be upgraded. Revenues for this fund come from the City's Local Option Sales Tax receipts.

CURRENT BUDGET

YEAR TO DATE

% OF

ACTUAL FY 2016

ACTUAL

BUDGET

REVENUES

USE OF MONEY

100.00

540.56

540.56 100.00

440.30 10,000.00 10,440.30

OTHER FINANCING

10,000.00

10,000.00

TOTAL REVENUES

10,100.00

10,540.56

104.36

EXPENDITURES CAPITAL OUTLAY

- -

6,347.50

- -

- -

TRANSFERS

-

-

-

6,347.50

-

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

56,846.33

10,540.56

6,347.50

61,039.39

4,193.06

RESTRICTED CASH