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HomeMy WebLinkAbout99-073 CITY OF LAKEVILLE RESOLUTION Date April 5, 1999 Resolution 99-73 Motion By Mulvihill Seconded By Luick RESOLUTION AMENDING THE 1999 LIQUOR FUND BUDGET BE IT RESOLVED, by the City Council of the City. of Lakeville, Minnesota, that the following Liquor Fund Budget is hereby approved and amended for the fiscal year ending December 31, 1999. 1999 1999 ADOPTED AMENDED BUDGET ADJUST BUDGET NOTES Revenues Sales $ 7,213,596 $ 7,213,596 Cost of Sales 5,500,078 - 5,500,078 Gross profit 1,713,518 - 1,713,518 Expenses Personnel 848,259 848,259 Commodities 35,905 35, 905 Other Charges and Services 415,852 (4,980) 410,872 (1) (2) • Total Expenses 1,300,016 (4,980) 1,295,036 Net operating income 413,502 4,980 418,482 Other receipts (disbursements) Interest income 48,965 48,965 Interest expense (69,595) (69,595) Purchase discounts 1,130 1,130 Uncollectible checks 800 800 Capital Outlay (177,718) - (177,718) Total (disbursements) (196,418) - (196,418) Net income before transfers 217,084 .4,980 222,064 Transfers To General Fund 62,471 62,471 To Genera! Fund (Chemical awareness) 35,442 35,442 To Building Fund 315,000 315,000 To Water Trunk Fund 82,572 - 82,572 Total transfers 495,485 - 495,485 Net increase (278,401) 4,980 (273,421) Working Capital, January 1 927,842 - 927,842 Working Capital, December 31 $ 649,441 $ 4,980 $ 654,421 Y RESOLUTION AMENDING THE 1999 LIQUOR FUND BUDGET (Continued) APPROVED AND AMENDED by the City Council of the City of Lakeville, Minnesota, this 5th day of April, 1999. CITY OF AKEVILLE BY: ~ DuaneZaun. May,r A ~ ES , ` Charlene Friedg s, City CI t • CITY OF LAKEVILLE 1999 LIQUOR FUND BUDGET AMENDMENT NOTES ADJUSTMENT (1) Adjust appropriations consistent with Frontier Communications contract (Centrex) telephone services. Liquor store # 1 363 Liquor store # 2 (1,267) Liquor store # 3 (1,219) Liquor store # 4 320 Increase Working Capital, December 31, 1999 1,803 (2) Reduce liability Insurance costs based on the new insurance coverage option for general liability, property and casualty insurance coverage through LMCIT. Insurance Premiums: Liquor store # 1 (1,142) Liquor store # 2 (870) Liquor store # 3 (350) Liquor store # 4 (815) Increase Working Capital, December 31, 1999 3,177 i •