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CITY OF LAKEVILLE
RESOLUTLON
Date December 4, 1989 Resolution No. 89-169
Mot ian by _____Nelson Second b Sindt
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RESOLUTION APPROVING THE 1990 LIAUOR FUND BUDGET
BE IT RESOLVED by the City Council of-the City of Lakeville
the budget for the fiscal year 1990 be adopted as follows:
1990 1991
SALES 3,119,000 3,212,570
COST OF GOODS SOLD. 2,339,250 2,409,428
GROSS PROFIT ?79,750 803,143
OPERATING EXPENSE 63.1,060 649,991
OPERATING INCOME 148,690 153,151
OTHER INCOME ___24,057 _`_24,780
NET INCOME 172,747 177,931
CHANGES IN WORKING CAPITAL
1990 1991
Sources of working capital
From operations
Net income 172,747 177,931
Items not requiring working capital
Depreciation 44,370 45,?O1
Total sources of working capital 217,117 223,632
Use of working capital
Transfer to Capital Projects Funds 75,000 75,000
Transfer to General Fund 47,203 47,203
Transfer to Trail Dedication Fund 36,000
Additions to property, plant & equipment 15,000
Total uses of working capital 173,203. 122,203
Increase in working capital 43,914 101,429
Working. capital January 1, 516,334 560,248
_Working capital. December 31, 560,248 661,67.7
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APPROVED AND ADOFTED by the City Council of the City of Lakeville,
Minnesota this nth day of December, 1989.
CIT OF LAKEVILLE
Du ne Zaun, M or
ATTEST:
Charlene Frie ges, ity Clerk
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