HomeMy WebLinkAbout02-194 CITY OF LAKEVILLE
RESOLUTION
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Date September 16, 2002 Resolution 02-194
Motion By Luick Seconded By Mulvihill
RESOLUTION ADOPTING THE PRELIMINARY 2003
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, 2003.
2003
Revenues
Sales $ 10,007,885
Cost of Sales 7,595,396
Gross profit 2,41.2,489
Expenses
Personnel 881,548
Commodities 38,232
Other Charges and Services 540,765
Total. Expenses 1,460,545
• Net operating income 951,944
Other receipts (disbursements)
Interest income 18,665
Other income 3,761
Purchase discounts 8,000
Uncollectible checks 1,500
Bond principal payment (115,000).
Bond Interest expense (48,347)
Capital outlay (26,873)
Total other receipts (disbursements) (158,294)
Net increase before transfers 793,650
Transfers in / (out)
General Fund (93,683)
General Fund -DARE Program (39,890)
Building Fund (610,000)
Fire Station #4 Bonds (206,585)
Water Trunk Fund (79,483)
Total transfers in / (out) (1,029,641)
Net increase (decrease) (235,991)
• Working Capital, January 1 557,711
Working Capital, December 31 $ 321,720
(continued)
R
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RESOLUTION ADOPTING THE PRELIMINARY 2003
LIQUOR FUND BUDGET
i (continued)
APPROVED AND ADOPTED by the City Council of the City of Lakeville, Minnesota,
this 16th day of September, 2002.
CITY O L K ILLE
BY:
1 Robert D. nson, Mayor
Charlene Friedges, City C rk