Memorandum

City of Lawrence

City Managerís Office

 

DATE:

5/30/2013

TO:

David L. Corliss, City Manager

FROM:

Casey Toomay, Budget Manager

CC:

Cynthia Wagner, Assistant City Manager

Diane Stoddard, Assistant City Manager

Jonathan Douglass, Assistant to the City Manager / City Clerk

RE:

General Operating Fund Balance

 

The table below shows the unreserved fund balance in the general operating fund at the end of 2012 was 18.91% of expenditures. This is within the Cityís policy of maintaining an unreserved General Fund balance of between 15% and 30% of actual expenditures.

The table also shows the amount added to the general operating fund balance since 2006 as well as the ending fund balance as a percent of expenditures for each year. More than $1.7 million has been added to the fund balance, however, expenditures in the general fund have increased over time. As a result, the ending fund balance as a percent of general fund expenditures is actually less than it was at the end of 2007.

General Operating Fund

Actual
2007

Actual
2008

Actual
2009

Actual
2010

Actual
2011

Est.

2012*

TOTAL

Revenues Over Expenditures

$365,778

$774,841

$340,580

$182,807

$16,682

$41,945

$1,722,633

 

Ending Balance as % of Expenditures

21.61%

22.17%

21.14%

19.91%

19.37%

18.91%

*These numbers are unaudited and remain subject to change.