FY 17 Annual Report

Special Revenue Funds

2017

CITY OF SPENCER, IOWA

CIVIL SERVICE EXPENSE FUND

FUND #117

FUND INFORMATION

This fund accounts for the City's share of Civil Service Expenses. This fund is one of seven separate employee benefits funds created by the City to account for certain employee benefits. Legal authority for the fund is established by two sections of the Iowa Code. Iowa State Code chapter 386.61 provides authority for municipalities to establish a fund for the purpose of "accounting for pension and related employee benefit funds as provided by the City Finance Committee," while also providing the authority to levy a tax in the amount necessary to meet these obligations. Chapter 545.4 of the Administrative Code of Iowa provides the City Finance Committee's definition of eligible benefits and how they must be accounted for. The City levies property taxes to cover the fund expenses for civil service employees. For FY17, the City levied $0.01519 / $1,000 of valuation to pay civil service expenses. This is a decrease over the FY16 levy of $0.01666, a decrease of $0.00147 / $1,000 of valuation. The total dollars levied remained flat, however the change in levy rate was due to changes in valuation. The expenses resulting from this fund cover required physicals and testing for civil service employees. Employees covered by Civil Service include the City's sworn police officers and full time firefighters. The other expenses that this fund covers is advertising for open positions. The overall fund balance increased $3,198.35 due to revenues coming higher than budgeted.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

TAXES

7,000.00

7,504.46

107.21

7,251.00

USE OF MONEY

40.00

99.70

- -

87.72

INTERGOVERNMENTAL

303.00

322.60

MISCELLANEOUS OTHER FINANCING

3,000.00

5,658.27

188.61

4,032.56

-

-

- 11,371.28

TOTAL REVENUES

10,343.00

13,585.03

131.35

EXPENDITURES CONTRACTUAL SVCS

10,000.00

10,386.68

103.87

12,968.02 12,968.02

10,000.00

10,386.68

103.87

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

3,198.35

9,006.22

13,585.03

10,386.68

12,204.57

SPECIAL REVENUE