HomeMy WebLinkAbout98-193 CITY OF LAKEVILLE
RESOLUTION
Date September 15, 1998 Resolution 98-193
Motion By Mulvihill Seconded By xolber~
RESOLUTION ADOPTING THE PRELIMINARY 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 826,711
Commodities 35,905
Other Charges and Services 415,552
Total Expenses 1,278,168
Net operating income 435,350
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 238,932
Transfers
To General Fund (Patrol) 62,471
To General Fund (Chemical awareness) 35,442
To Building Fund 305,000
~ To Water Trunk Fund 82,572
Total transfers 485,485
Net increase (246,553)
Working Capital, January 1 655,433
• Working Capital, December 31 408 880
(Continued)
(Continued)
APPROVED AND ADOPTED by the City Council of the City of Lakeville, Minnesota,
this 15th day of September, 1998.
CITY OF KEVILLE
BY:
Duane Zaun, Mayor
A E
Charlene Friedges, City CI k