HomeMy WebLinkAbout5.F.8. Reservation of Fund Balance-2006 Buiding Permit Activities
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CITY OF SHAKOPEE
Memorandum
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TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
SUBJ: Reservation of Fund Balance - Building Permit Activities
DATE: October 29, 2007
Introduction
Council is requested to revise the reservation of General Fund - Fund
Balance for building permit activities for 2006.
Background
Initially, the cost of service study authorized by Council and
performed by Springsted showed revenues for building permit related
fees were $484,110 more than the related costs for 2006.
The numbers from Springsted were received on June 29 and the report to
the state was due June 30th. Since then, we have received the finished
(revised) model from Springsted and made several adjustments/updates to
the model. By the way, Jessie Hart who worked on the model through the
BATC situation is no longer with Springsted.
As a result, the reservation of fund balance from 2006 activities in
the amount of $484,110 needs to be revised to be $219,517.
This action increases the size of General Fund - Fund Balance available
for spending. The reserved amount for building permit activities would
then equal $1,699,392.
Action
Move to amend the reservation of in General Fund - Fund Balance for
2006 building permit related activities from $484,110 to $219,517.
.JW
Gregg Voxland
Finance Director
H,CAFR07gffbpermits06.doc