FY 17 Annual Report

AGENCY FUNDS CITY OF SPENCER, IOWA

2017

HOEPPNER TRUST

FUND #951

FUND INFORMATION

From the Will of Hazel Barringer Hoeppner: Proceeds to be placed in trust to be known as "Hazel Barringer Hoeppner Trust." Trustees of the trust will be President of Hawkeye Bank,; Director of the YMCA; City Manager of Spencer, Iowa; Administrator of Spencer Municipal Hospital and President of Spencer Ministerial Association. Trustees shall annually distribute the income from these assets to needy families and children in Spencer and Clay County at Christmas time. The Trustees should be creative in not only catering to physical needs, but the spiritual and social needs as well. The principal is to be invested and only the income from said funds be used annually. In FY15, the Trustees voted to move the funds from the City to the Clay County Trust Fund for management. The City transferred the funds to the Greater Des Moines Community Foundation in FY16. Original Principal Amount - $382,200.00

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

USE OF MONEY MISCELLANEOUS

- -

58.88

-

2,221.58

-

TOTAL REVENUES

-

58.88

-

2,221.58

EXPENDITURES CONTRACTUAL SVCS

403,347.50

- -

13,397.12

-

TRANSFERS

-

403,347.50

-

13,397.12

#DIV/0!

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1. 2016

JUNE 30, 2017

(13,338.24)

13,347.88

58.88

13,397.12

9.64

AGENCY FUNDS