HomeMy WebLinkAbout08-177 CITY OF LAKEVILLE
RESOLUTION NO. os-1~~
RESOL UTION AMENDING THE 2008
BENEFIT ACCRUAL FUND BUDGET
NOW THEREFORE, BE IT RESOLVED that the Benefit Accrual Fund
Budget is hereby approved and amended for the fiscal year ending
December 31, 2008.
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ADOPTED AMENDED
BUDGET ADJUST BUDGET NOTES
Revenues
Taxes $ 70,000 $ - $ 70,000
Investment income 46,630 1( 9,180) 27,450
Total Revenues 116,630 1( 9,180) 97,450
Expenditures
Personnel -PTO cash outs 23,720 (420) 23,300 (Z)
Personnel -PTO severance 41,375 41,375 (3)
Personnel -Non-PTO severance - 15,201 15,201 (4~
Total Expenditures 23,720 56,156 79,876
Transfers
Transfer from Cable TV Fund 1,508 1,508
Transfer from Surface Water Management Utility Fund 1,783 - 1,783
Total Transfers 3,291 - 3,291
Net Increase/(Decrease) 96,201 (75,336) 20,865
Fund Balance, January 1 918,014 (2,890) 915,124 (5)
Fund Balance, December 31 $1,014,215 $ 78,226 $ 935,989
BE IT FURTHER RESOLVED that the notes pertaining to the adjustments as
shown above are shown on Exhibit A attached hereto.
APPROVED AND AMENDED by the Lakeville City Council this 15th day of
December, 2008. 1`s
Ole EVILLE
oll Dahl, ayor
E T;
C.___
Charlene Friedge , ity Clerk
Exhibit A
CITY OF LAKEVILLE
2008 BENEFIT ACCRUAL SPECIAL REVENUE FUND
ADJUSTMENT
(1) Reduce interest earnings on investments to more accurately reflect 2008
market conditions.
Estimated -Interest on investments (46,630)
Budgeted -Interest on investments 27,450
Decrease Fund Balance, December 31, 2008 19,180
(2) Increase appropriations related to employee PTO cash out during 2008
including applicable benefits.
Estimated -PTO cash outs 23,300
Budgeted -PTO cash outs 23,720
Increase Fund Balance, December 31, 2008 420
(3) Increase appropriations related to employee PTO severance paid during 2008
including applicable benefits.
Police Criminal Analyst 1,030
Engineering Technician 30,462
Engineering G.LS. Coordinator 1,730
Cable TV Coordinator 7,387
Environmental Resource Technician 766
Decrease Fund Balance, December 31, 2008 4
(4) Increase appropriations for employee Non-PTO severance paid during 2008
including applicable benefits.
Building Senior Inspector 3,213
Building Administrative Assistant 1,386
Engineering Senior Project Coordinator 3,547
Assistant City Engineer 7,056
Decrease Fund Balance, December 31, 2008 1( 5,202)
(5) Adjust the budgeted January 1, 2008 Fund Balance to reflect the actual December 31,
2007 Fund Balance carryforward.
Actual Fund Balance, January 1, 2008 915,124
Budgeted Fund Balance, January 1, 2008 918,014
Decrease Fund Balance, December 31, 2008