FY 17 Annual Report

Business Type Activities Funds

2017

CITY OF SPENCER, IOWA

LANDFILL BOND RESERVES

FUND #676

FUND INFORMATION

This fund accounts for money set aside to pre-pay debt associated with the Landfill. Several years ago, the City issued debt to create the Closure, Post-Closure funds and to finance an early cell development project. Since that time, the Landfill's financial position has turned around and the Landfill will have sufficient revenue in the coming years to retire this debt early. This Fund was established to "earmark" excess Landfill revenues for the purpose of calling outstanding debt early. The City plans to have the Landfill debt free by the end of FY18.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

USE OF MONEY

- -

- -

- -

- 318,425.00 318,425.00

OTHER FINANCING

TOTAL REVENUES

-

-

-

EXPENDITURES CAPITAL OUTLAY

- 350,000.00 350,000.00

- -

- -

- -

TRANSFERS

-

-

-

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

-

318,425.00

-

-

318,425.00

BUSINESS TYPE ACTIVITIES