11/14/1984 - Laserfiche WebLink

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80ox 58 8,5 Commissioner Wodtke asked if these are all in the guidelines of what the Board approved, and Administrator Wright stated that he knew the ones for which he is responsible are, but he did not know about any others. Commissioner Wodtke noticed that the money came out of the reserve for contingencies, and the Administrator stated that was really kind of a misnomer - we actually had it set aside in a special account. To date we have not drawn anything down out of contingencies, nor will we. The contingency amount that the Board budgeted will be the same. Commissioner Wodtke then inquired about the cash forward figure in the enterprise accounts. Finance Director Fry explained that the enterprise funds have to be budgeted on a different process than the other governmental funds, and you don't use your cash forward from a previous years as a revenue item coming in. So, when the Board budgeted the enterprise funds and adopted the budget, it was basically their total revenues and then what their total expenses were, and whatever the difference was went into the cash forward 9/30. There are no contingencies in the Enterprise Accounts. Commissioner Wodtke asked how much of a problem it would be throughout the year whenever we decrease the reserve for contingency to show the balance. Administrator Wright felt generally we do show that, but we are not actually drawing down on contingency in this case. Finance Director Fry stated that all you are really doing in the enterprise funds is saying you are going to use more than the anticipated profits were originally budgeted for. Commissioner Wodtke continued to question the cash carry forward, and Finance Director Fry further explained that although on the enterprise funds you don't budget cash forward from one year as a revenue to the next year, it is shown as it is the requirement of state statutes that the Board adopt a budget that is in balance. 18 M M M