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<br />When the policy was updated it was expected to transfer an average around $250,000 annually to the <br />Park Improvement Fund (PIF). In recent years the amount transferred has been varied and <br />significantly less than expected due to the calculation method outlined in the policy. The calculation <br />is no longer conducive to the PIF transfer and has been affected by required GASB audit <br />adjustments to operating income and fluctuations in other budgeted transfers. This makes it difficult <br />to properly plan park improvement projects when the funding amount is unknown. <br /> <br />Based on the initial PIF funding expectations, it is proposed to set the Park Improvement Fund <br />transfer at $250,000 annually beginning 2021. The budgeted PIF transfer amount will be reviewed <br />annually during the Liquor Fund budget process to ensure the Liquor Fund has enough operating <br />and capital reserves. The $250,000 budgeted transfer to the PIF will provide funding stability and <br />allow for the accumulation of resources based on the current Park Improvement CIP. <br /> <br /> <br /> <br /> <br />General Fund Update <br />As we await NTC values from the county, the preliminary General Fund budget totals $17,613,600, which <br />is a 3.5% increase from the prior year. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Department Budgets/Goals <br /> Personnel Request Summary <br /> Capital Outlay Summary <br /> Preliminary General Fund Summary <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />N:\\Public Bodies\\Agenda Packets\\08-10-2020\\x3 sr 2021 Budget.docx <br />