HomeMy WebLinkAbout06-225 CITY OF LAKEVILLE
RESOLUTION NO. 06-225
RESOLUTION ADOPTING THE 2007
LIQUOR FUND BUDGET
NOW THEREFORE, BE IT RESOLVED that the Liquor Fund Budget
is hereby approved and adopted for the fiscal year ending
December 31, 2007.
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Revenues
Sales $ 12,713,492
Cost of Sales 9,649,898
Gross profit 3,063,594
Expenses
Personnel 1,191,403
Commodities 47,943
Other Charges and Services 715,523
Total Expenses 1,954,869
Net operating. income 1,108,725
Other receipts (disbursements)
Interest income 62,310
Other income 3,865
Purchase discounts 1,200
Bond Proceeds 5,130,000
Proceeds from sale of old LS #3 1,088,784
Uncollectible checks 1,500
Bond principal payment (145,000)
Bond Interest expense (306,353}
Capita{ out{ay (6,929,377)
Total other receipts (disbursements) (1,093,071)
Net increase before transfers 15,654
Transfers in / (outj
General Fund (136,805)
Fire Station #4 Bonds (192,773)
Building Fund (100,000)
Total transfers in / (out) (429,578}
(continued)
RESOLUTION ADOPTING THE 2007
LIQUOR FUND BUDGET
(continued) 2007
Net increase (decrease) (413,924}
Working Capital, January 1 1,421,226
Working Capital, December 31 $ 1,007,302
APPROVED AND ADOPTED by the Lakeville City Council this 18th day of
December, 2006.
CITY OF LAK LE
Robert D. Jo nson, Mayor
A EAST;
Charlene Friedges, Jerk