1988 CAFR - Laserfiche WebLink

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Portions of fund balances may also be reserved indicating the fund balance is legally segregated for specific future uses. As of December 31, 1988 the City reserved retained earnings for future construction in the Water and Sewer Fund in the amount of : This reservation is from assessments for elevated water storage and future oversizing of water and sewer lines. CASH MANAGEMENT. The City of Ramsey subscribes to the "pooled cash" concept of investing which means that all funds with cash balances (except the Escrow Fund) participate in an investment pool. This permits some funds to be temporarily overdrawn and others to show cash balances when in fact the City has a cash balance. This pooled cash concept provides for investing greater amounts of money at more favorable rates. The following table is a history of yields: Revenue Sources Property taxes Licenses and permits Intergovernmental Charges for services Fines and penalties Interest on investments Miscellaneous revenue Transfers in Water and Sewer Funds: $233,458 Year 1984 1985 1986 1987 1988 $810,674 191,205 652,719 5,748 30,278 96,621 5,459 355.246 Average Investment Interest Yield Earned 10.6% 8.9% 6.9% 7.0% 8.1% 1988 % of Total $ Total 37.7% 8.9% 30.4% 0.3% 1.4% 4.5% 0.3% 16.5% viii 288,231 411 ,701 381 ,899 471,553 627,702 GENERAL FUND. This fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. The following table compares General Fund revenues and other financing sources for the years 1988 and 1987: % of Total $ 1987 $771 ,004 168,916 660,725 6,591 29,912 73,742 2,832 70.725 $2 .1 4 7.9 5 0 100.0% $1.784.447 100.0% 1988 Increase Total (Decrease) 43.1% $39,670 9.5% 22,289 37.0% (8,006) 0.4% (843) 1.7% 366 4.1% 2,879 0.2% 2,627 4.0% 284.521 $363.503 Transfers in from other funds were primarily for the purpose of capital outlay expenditures.