HomeMy WebLinkAbout98-298 CITY OF LAKEVILLE
RESOLUTION
Date December 21, 1998 Resolution 98-298
Motion By Holberg Seconded By Sindt
RESOLUTION ADOPTING 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 adopted for the fiscal year ending December 31, 1999.
1999
Revenues
Sales $ 7,213,596
Cost of Sales 5,500,078
Gross profit 1,713,518
Expenses
Personnel 848,259
Commodities 35,905
Other Charges and Services 415,852
Total Expenses 1,300,016
Net operating income 413,502
Other receipts (disbursements)
Interest income 48,965
Interest expense (69,595)
Purchase discounts 1,130
Uncollectible checks 800
Capital Outlay (177,718)
Total (disbursements) (196,418)
Net income before transfers 217,084
Transfers
To General Fund 62,471
To General Fund (Chemical awareness) 35,442
To Building Fund 315,000
To Water Trunk Fund 82,572
Total transfers 495,485
Net increase (278,401)
Working Capital, January 1 927,842
. Working Capital, December 31 $ 649,441
(Continued)
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RESOLUTION ADOPTING THE 1999
LIQUOR FUND BUDGET
(Continued)
APPROVED AND ADOPTED by the City Council of the City of Lakeville, Minnesota,
this 21st day of December, 1998.
CITY OF KEVILLE
BY:
Dua a Zaun, Ma
EST•
Charlene Friedges, City Cler