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
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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
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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
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