FY 17 Annual Report

Restricted Cash Funds

2017

CITY OF SPENCER, IOWA

SRTS/SIDEWALK RESERVES

FUND #060

FUND INFORMATION

The City established the Safe Routes to School (SRTS) / Sidewalk Reserve fund several years ago when the first SRTS grant was received. The fund accounts for all revenues and expenditures related to the construction of sidewalk through the SRTS program as well as the City's own Sidewalk Improvement Program. Revenue for the fund comes from the Spencer School District and from the City's Local Option Sales Tax receipts. In FY13, the City created the Sidewalk Improvement Program which offers grants to property owners to fix sidewalks in front of their property, or install new sidewalks. To date the City Council has allocated $200,000 towards this effort. An additional $100,000 was transferred in FY17 for continued sidewalk efforts. In FY17 and future years, the City has identified several additional Safe Routes to School Projects that will be funded with the money supplied by the School and City contributions. These projects for FY17 included the installation of speed warning signs at the Middle and High Schools as well as the pedestrian crossing projects on North and South Grand Avenue.

CURRENT BUDGET

YEAR TO DATE

% OF

ACTUAL FY 2016

ACTUAL

BUDGET

REVENUES

INTERGOVERNMENTAL

25,000.00 1,300.00 25,000.00

30,000.00 3,462.88 125,000.00

120.00

25,000.00 3,422.29 25,000.00 53,422.29

USE OF MONEY

-

OTHER FINANCING

500.00

TOTAL REVENUES

51,300.00

158,462.88

308.89

EXPENDITURES COMMODITIES CAPITAL OUTLAY

40,485.00 20,880.00 18,880.00

43,865.15 36,847.50 67,988.67

108.35 176.47 360.11

1,944.00 20,426.90 2,218.65 24,589.55

TRANSFERS

80,245.00

148,701.32

185.31

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

9,761.56

389,393.96

158,462.88

148,701.32

399,155.52

RESTRICTED CASH