FY 17 Annual Report

Restricted Cash Funds

2017

CITY OF SPENCER, IOWA

PARK RESERVES

FUND #056

FUND INFORMATION

The Park Reserve Fund was established to account for revenues and expenditures for future capital improvements and equipment for the Park Department. Primary funding comes from the City's Local Option Sales Tax receipts. This fund cannot be used for general operations of the Park Department. In FY17, the City received a donation from Robert Wright for use for a new pavillion in North School Park. This donation was deposited into the Park Reserves for future expenses related to the project. Expenditures for FY17 included the purchase of a new mower, new park benches for several parks and professional services for the aquatic center assessment as well as the park singage project. In addition, the fund transferred money to the Capital Projects fund to cover costs associated with the Tennis Court rehabilitation, 2016 Deerfield Park Improvements, W 18th Street Trail, and North School Trail proejcts.

CURRENT BUDGET

YEAR TO DATE

% OF

ACTUAL FY 2016

ACTUAL

BUDGET

REVENUES

INTERGOVERNMENTAL CHARGES FOR SVCS

-

-

-

-

1,200.00 5,484.34

1,275.00 3,000.00

1,125.00 4,433.27

88.24

USE OF MONEY MISCELLANEOUS OTHER FINANCING

147.78

99.11 130,000.00 136,783.45

500.00

119,078.20 115,000.00

23,815.64

115,000.00

100.00

TOTAL REVENUES

119,775.00

239,636.47

200.07

EXPENDITURES CONTRACTUAL SVCS

79.00

73.60

87,170.01 226,205.55 313,375.56

CAPITAL OUTLAY

100,500.00

68,617.23 252,463.68

68.28

TRANSFERS

5,000.00

5,049.27

105,579.00

321,154.51

304.18

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

(81,518.04)

407,264.99

239,636.47

321,154.51

325,746.95

RESTRICTED CASH