FY 17 Annual Report

Business Type Activities Funds

2017

CITY OF SPENCER, IOWA

GOLF COURSE RESERVE

FUND #746

FUND INFORMATION

This fund accounts for major pieces of equipment/capital projects for the Golf Course Operations fund. The primary source of revenue for this fund is excess revenues from Golf Course Operations. The Golf Course is looking at replacing several mowers and the rental golf cart fleet in the coming years. In FY17, the Golf Course replaced all of the mowing and ground maintenance equipment. The deficit this caused in the fund will be repaid by excess golf revenues over the next few years as they are available.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

CHARGES FOR SVCS MISCELLANEOUS USE OF MONEY OTHER FINANCING

2,100.00

1,120.00 5,669.00

53.33

5,500.00 1,607.07

-

-

371.50 31,754.15 39,232.72

200.00

102.20

51.10

150,822.00

-

-

TOTAL REVENUES

153,122.00

6,891.20

4.50

EXPENDITURES CONTRACTUAL SVCS

128.11

-

102.06

-

- 62,528.11 62,400.00

CAPITAL OUTLAY

139,000.00

90,284.50

64.95

TRANSFERS

-

-

139,000.00

90,386.56

65.03

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

(83,495.36)

67,175.70

6,891.20

90,386.56

(16,319.66)

BUSINESS TYPE ACTIVITIES