December 31, 1998 - CURRENT
Section 6. 1998 General Government Revenue, Expenditures, and Fund Balance
The table below is a summary statement of 1998 revenue, expenditures, and fund balances for the General Fund, the Special Revenue Funds, and the Debt Service Funds. Revenue exceeded expenditures and net other financing uses by $15.7 million, resulting in an increase to fund balances.
Table 3. 1998 General Government Revenue, Expenditures,
and Fund Balances (in $000’s)
General Fund |
Special Revenue Funds |
Debt Service Funds |
|
| Revenue | |||
| Taxes | 441,769 |
45,378 |
9,893 |
| Other | 113,358 |
184,402 |
4,797 |
| Total Revenue | 555,127 |
229,780 |
14,690 |
| Expenditures | |||
| Current | 344,643 |
299,756 |
0 |
| Capital outlay | 27,829 |
30,692 |
0 |
| Debt service | 92 |
1,641 |
57,466 |
| Total Expenditures | 372,564 |
332,089 |
57,466 |
| Other Financing Sources (Uses) | |||
| Proceeds of long-term debt/refundings |
0 |
9,920 |
191 |
| Sales of fixed assets | 1,925 |
315 |
0 |
| Net Operating transfers in (out) | (185,508) |
109,863 |
41,468 |
| Total Other Financing Sources (Uses) | (183,583) |
120,098 |
41,659 |
| Change to Fund Balances | (1,020) |
17,789 |
(1,117) |
| Beginning of Year Fund Balances | 117,927 |
88,338 |
10,783 |
| Adjustments | 0 |
(12,931) |
0 |
| Fund Balances – Year End | 116,907 |
93,196 |
9,666 |
Almost three-quarters of the total 1998 General Fund year-end fund balance was held in three of the 14 General Fund Subfunds:
- The General Fund Subfund of the General Fund handles most of the revenue and expenditures covering traditional general government activities. Its 1998 year-end fund balance was $24.6 million, most of which was reserved for funding of prior year commitments.
- The Cumulative Reserve Subfund of the General Fund is a reserve fund authorized under State law and is used to accumulate money until it is spent, primarily for maintenance and development of City capital facilities. Fund balance in this subfund at year-end 1998 totaled $44.2 million, most of which was committed to funding ongoing, multi-year capital projects.
- The Emergency Subfund of the General Fund is the City’s principal emergency reserve fund. This fund is available to pay for unanticipated expenditures, such as those associated with natural disasters, mandatory expenditures required by recent changes in laws, and other unanticipated expenses. City policy calls for the Emergency Subfund to be funded to the legal maximum at the beginning of each year. At year-end 1998, the Emergency Subfund fund balance was $15.8 million. The 1999 budget includes a $1.3 million contribution to this reserve fund in order to bring it up to its legal maximum of $17.2 million based on 1998 assessed valuations.
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