FY 17 Annual Report

Restricted Cash Funds

2017

CITY OF SPENCER, IOWA

TECHNOLOGY FUND

FUND #092

FUND INFORMATION

The Technology Fund was created in FY14 as a way to pool city resources for the funding of technology city-wide. The concept of the Technology Fund started with a Technology Assessment the City had performed in FY13 regarding implementation of a paperless meeting system for meeting packets. Out of the Assessment came the recommendation for the consolidation of technology purchases. A Technology Committee was formed with representation from every department on the committee and is tasked with looking at new technology initiatives for the City and how to implement technology to improve efficiency. Funding for the Technology Fund comes from Local Option Sales Tax receipts and each department's reserve fund. Projects funded in FY17 include replacement computers for various departments, purchase of ongoing service contract with Solutions, program for sending encrypted e-mail, upgraded the Laserfiche program, and new Chromebooks for the City Council. The City also transferred $45,000 in anticipation of entering into a manager services contract with Solutions in FY 18.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

USE OF MONEY

500.00

1,436.41

287.28 164.29

1,070.21

OTHER FINANCING

70,000.00

115,000.00

145,000.00 146,070.21

TOTAL REVENUES

70,500.00

116,436.41

-

EXPENDITURES CONTRACTUAL SVCS

15,525.00 1,000.00 40,497.00

20,026.00 20,700.04 17,119.60

128.99

36,875.61

CAPITAL OUTLAY COMMODITIES

-

2,070.00

295.00

42.27

TRANSFERS

-

-

-

106,115.77 143,286.38

57,022.00

57,845.64

101.44

TOTAL EXPENDITURES

Fund Balance

(DECREASE) INCREASE /

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

58,590.77

180,008.24

116,436.41

57,845.64

238,599.01

RESTRICTED CASH