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FINANCIAL SECTION j~continuedl
<br />General Fund (continued)
<br />The fund balance in the General Fund is used to provide working capital for the fund until property tax and state aid
<br />settlements, which are received periodically throughout the year, are collected. During 1992, policy had been
<br />established that provided the level of the undesignated-reserved for working capital portion of fund balance at 50
<br />percent of the next years' adopted budget with the remaining portion, not restricted or reserved for other purposes,
<br />as unreserved-undesignated. During 1993, the policy was expanded to cover the distribution of excess or deficient
<br />revenues in the General Fund at year end and established the level of the unreserved-undesignated portion of fund
<br />balance at 10 percent of the next years' operating budget, which would be used to provide for unknown events
<br />which could have an adverse effect on the fund in future years.
<br />Total fund balance for the General Fund consisted of the following reservations and designations:
<br />Fund Balance ~ 1995
<br />Reserved for Prepaid Items $ 24,083 $ 15,371
<br />Unreserved -
<br />Designated for Compensated Absences 192,752 163,770
<br />Designated for Working Capital 1,600,302 1,496,612
<br />Undesignated 312.031 302,396
<br />Total Fund Balance $ 2.129.168 $ 1.978.149
<br />The following table presents a comparative analysis of General Fund Revenues and Other Financing Sources for
<br />1996 and 1995, respectively:
<br />Function
<br />Properly Taxes
<br />Licenses and Permits
<br />Intergovernmental Revenue
<br />Charges for Services
<br />Fines and Penalties
<br />Other Revenue:
<br />Interest Earned on Investments
<br />Miscellaneous
<br />Transfers From Other Funds
<br />Total Revenues and Other Financing Sources
<br /> 122 995
<br /> %Of %of
<br />moun Total m unt Total
<br />$1,748,024 44.3% $1,510,755 44.2%
<br />441,204 11.2 303,235 8.9
<br />1,014,962 25.7 982,263 28.8
<br />278,440 7.0 216,317 6.3
<br />56,883 1.4 48,345 1.4
<br />106,484 2.7 60,230 1.8
<br />14,567 .4 13,628 0.4
<br />290,104 7.3 280.145 8.2
<br />$3.950.668 100.0% $3.414.918 100.0%
<br />Current tax collections for 1996, for general and debt service levies, are 98.7% of the tax levy, compared to 99.7%
<br />in 1995. The ratio of total collections [current, delinquent and tax forfeit sales] exclusive of tax increments, to the
<br />current tax levy is 99.5%, a decrease of 1.2%, compared to 1995.
<br />Licenses and Permits revenue continue to increase each year. The increase of $137,969 from 1995 to 1996, is due
<br />primarily to building permit activity as new housing increased 33% over 1995 levels.
<br />Intergovernmental revenues increased in 1996, by $32,699 over 1995. This increase is due primarily to an increase
<br />in State funded aids and the Federal COPS Fast grant received late in the year.
<br />The increase of $62,123 in Charges for Services, from 1995 to 1996, is due primarily to the plan check fees that are
<br />based on building permit fees which increased as noted above. Other catagories under Charges for Services
<br />remained constant from 1995 to 1996.
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