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NOTE 6 —FUND BALANCE POLICY AND CLASSIFICATION
<br />A. Classifications
<br />At December 31, 2011, the City had the following classifications of fund balances in its Governmental
<br />Funds:
<br />Special Revenue Funds Capital Project Fund
<br />Housing and Public Public Improvement
<br />Redevelopment Improvement Equipment Revolving Armstrong/Bunker
<br />General Tax Increment Authority Revolving Landfill Revolving The COR Street Improvement Nonmajor Total
<br />Fund balances
<br />Nonspendable
<br />Prepaids $ 9,929 $ - $ 79 $ - $ - $ - $ - $ - $ 225 $ 10,233
<br />Restricted for
<br />Capital improvements
<br />Debt service
<br />Economic development
<br />Housing redevelopment
<br />Lawful gambling
<br />Public safety
<br />Solid waste management
<br />Tax increment
<br />8,816,253
<br />8,335,428
<br />Committed
<br />Capital improvements - - - - - - - - 463,216 463,216
<br />Community/business - - - - - - - - 356,623 356,623
<br />819,839
<br />Assigned
<br />Capital improvements
<br />Cemetery
<br />Landfill
<br />Park improvement
<br />Parking ramp
<br />125,015
<br />B. Fund Balance Policy
<br />1,829,367
<br />Unassigned 6,253,688 - - - - - (256,024) - (597,062) 5,400,602
<br />Total fund balances $ 6,388,632 $ 8,816,253 $ 8,335,507 $ 1,829,367 $ 3,099,101 $ 3,276,236 $ (256,024) $ 260,269 $ 10,190,921 $ 41,940,262
<br />When both restricted and unrestricted resources are available for use, it is the City's policy to first use
<br />restricted resources, and then use unrestricted resources as they are needed.
<br />When committed, assigned, or unassigned resources are available for use, it is the City's policy to use
<br />resources in the following order; 1) committed, 2) assigned, and 3) unassigned.
<br />When actual revenues exceed actual expenditures in a given year, the excess shall be allocated as follows:
<br />a) Any excess shall be first allocated to "unassigned" fund balance to bring that portion of fund
<br />balance to an amount equal to fifty percent (50 %) of the next years adopted operating budget
<br />plus prior -year encumbrances (if any) plus compensated absences.
<br />b) Any excess after complying with fund balance requirements in step "a" shall be allocated to
<br />equipment replacement, park trust, public facilities construction, and public improvement
<br />revolving funds in the following manner:
<br />Ten percent (10 %) to Fund #234 - Equipment Revolving Fund
<br />Ten percent (10 %) to Fund #810 — Park Maintenance Fund (reported in General Fund)
<br />Forty percent (40 %) to Fund #412 — Public Facilities Construction Fund
<br />Forty percent (40 %) to Fund #400 - Public Improvement Revolving Fund
<br />77
<br />3,099,101
<br />3,276,236 - 260,269
<br />363,672 363,672
<br />5,753,130 5,753,130
<br />1,294,418 1,294,418
<br />- 8,335,428
<br />138,114 138,114
<br />80,533 80,533
<br />250,671 250,671
<br />- 8,816,253
<br />25,032219
<br />2,031,507 7,397,379
<br />33,882 33,882
<br />- 3,099,101
<br />- 125,015
<br />21,992 21,992
<br />10,677,369
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