HomeMy WebLinkAbout97-306 CITY OF LAKEVILLE
RESOLUTION
• Date necember 17. 1997 Resolution 97-306
Motion By Holberg Seconded By Sindt
RESOLUTION ADOPTING THE 1998
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, 1998.
1998
Revenues
Sales $ 6,606,240
Cost of Sales 4,982,821
Gross profit 1,623,419
Expenses
Personnel 810,786
Commodities 35,606
Other Charges and Services 400,247
Total Expenses 1,246,639
Net operating income 376,780
Other receipts (disbursements)
Interest income 27,383
Interest expense (67,465)
Purchase discounts 3,750
Uncollectible checks 1,400
Other 3,268
Capital Outlay (9,313)
Total (disbursements) (40,977)
Net income before transfers 335,803
Transfers
To General Fund 73,476
To Building Fund 847
To Water Trunk Fund 82,572
Total transfers 156,895
Net increase 178,908
Working Capital, January 1 504,049
• Working Capital, December 31 $ 682,957
(Continued)
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(Continued)
i APPROVED AND ADOPTED by the City Council of the City of Lakeville, Minnesota,
this 17th day of December, 1997.
CITY OF AKEVILLE
BY: -
Duane Zaun, Ma o
TTE ~ T: o
Charlene Friedges, Ci Clerk
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