FY 17 Annual Report

Restricted Cash Funds

2017

CITY OF SPENCER, IOWA

BRIDGE RESERVE

FUND #065

FUND INFORMATION The Bridge Reserve fund was established at a time when there was discussion of a second bridge crossing of the Little Sioux River. The intent at the time was to place money into the fund to help offset the construction of a new crossing. However, since the construction of the east and west beltways, there has been no new discussion of another crossing. At this time, there is no new funding being deposited into the account besides monthly interest deposits. In FY14, the City confirmed that the monuments constructed on the Highway 71 bridge were beginning to lean and settle. The City has designated money in this fund to cover the costs of repairs. The repairs are slated for early FY18.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

USE OF MONEY

- -

662.78

- -

652.80 - 652.80

OTHER FINANCING

-

#DIV/0!

TOTAL REVENUES

-

662.78

EXPENDITURES CONTRACTUAL SVCS

- -

-

- -

- 79,832.55

TRANSFERS

2,588.86

79,832.55

-

2,588.86

#DIV/0!

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

(1,926.08)

70,429.47

662.78

2,588.86

68,503.39

RESTRICTED CASH