HomeMy WebLinkAbout07-154 c h
CITY OF LAKEVILLE
RESOLUTION NO. o7-i54
RESOLUTION ADOPTING THE 2008 PRELIMINARY
LIQUOR FUND BUDGET
NOW THEREFORE, BE IT RESOLVED that the Preliminary Liquor Fund Budget
is hereby approved and adopted for the fiscal year ending December 31, 2008.
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Revenues
Sales $ 13,729,003
Cost of Sales 10,322,422
Gross profit 3,406,581
Expenses
Personnel 1.,226,050
Commodities 47,821
Other Charges and Services 812,491...
Total Expenses 2,086,362
Net Operating Income 1,320,219
Other Receipts/(Disbursements)
Interest on Investments 70,785
Other income 3,865
Bond Interest Expense (214,610)
Uncollectible Checks 1,500
Bond Principal Payment (280,000)
Capital Outlay (1,923,980)
Total Other Receipts (Disbursements). (2,342,440)
Net Increase. Before Transfers (1,022,221)
Transfers
Transfer to General Fund (223,594)
Transfer to Fire Station #4 Bonds (188,855)
Transfer to Police Station Bonds (100,000)
Total Transfers (512,449)..
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(continued)
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RESOLUTION ADOPT.TNG THE 2008 PRELIMINAR Y
LIQUOR FUND BUDGET
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Net Increase/(Decrease) $ (1,534,670)
Working Capital, January 1 3,100,904
Working Capital, December 31 $ 1.,566.,234
APPROVED AND ADOPTED by the Lakeville City Council this 4th day of
September, 2007.
C OF EVILLE
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harlene Friedges, Clerk