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HomeMy WebLinkAbout04-182 ar . , CITY OF LAKEVILLE RESOLUTION. Date September 13, 2004 .Resolution 04-182 Motion By Wulff Seconded By Rieb RESOLUTION ADOPTING THE PRELIMINARY 2005 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, 2005. 2005 Revenues Sales $ 10,783,190 Cost of Sales 8,167,700 Gross profit ~ 2,615,490 Expenses Personnel 988,435 Commodities 46,253 Other Charges and Services 562,964 Total Expenses 1,597,652 Net operating income 1,017,838 Other receipts (disbursements) Interest income 7,086 Other income 3,761 Purchase discounts 10,500 Uncollectible checks 1,500 Bond principal payment (125,000) Bond Interest expense (37,240) Capital outlay (22,663) Total other receipts (disbursements) (162,056) Net increase before transfers 855,782 Transfers in / (out) General Fund (142,709) Fire Station #4 Bonds (193,051) Building Fund (97,927) Total transfers in / (out) (433,687) (continued) RESOLUTION ADOPTING THE PRELIMINARY 2005 LIQUOR FUND BUDGET • (continued) 2005. Net increase (decrease) 422,095 Working Capital, January 1 506,431 Working Capital, December 31 $ 928,526 APPROVED AND ADOPTED by the City Council of the City of Lakeville, Minnesota, this 13th day. of September, 2004. CITY OF L KEVILLE BY: Robert D. J son, Mayor A T: Charlene Friedges, City CI