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