On February 2, 2012 at the meeting of the Economic Development & Public Policy Committee, Roger Stancil, Town Manager for Chapel Hill gave a presentation on the Town of Chapel Hill’s budget process, with a focus on priority-based budgeting.
County Budget Forecast FY 2014 and FY 2015Fairfax County
County Budget Forecast FY2014 and FY 2015
Joint Meeting of the Fairfax County Board of Supervisors and the Fairfax County School Board
November 27, 2012
Fairfax County Executive Anthony Griffin proposed his FY 2011 budget to the Board of Supervisors on Feb. 23. For more information, visit www.fairfaxcounty.gov/budget.
This slideshow from our April 28th forum Can Oakland Afford to Be Safe? features past and current budget information as well as policing and academy costs.
On February 2, 2012 at the meeting of the Economic Development & Public Policy Committee, Roger Stancil, Town Manager for Chapel Hill gave a presentation on the Town of Chapel Hill’s budget process, with a focus on priority-based budgeting.
County Budget Forecast FY 2014 and FY 2015Fairfax County
County Budget Forecast FY2014 and FY 2015
Joint Meeting of the Fairfax County Board of Supervisors and the Fairfax County School Board
November 27, 2012
Fairfax County Executive Anthony Griffin proposed his FY 2011 budget to the Board of Supervisors on Feb. 23. For more information, visit www.fairfaxcounty.gov/budget.
This slideshow from our April 28th forum Can Oakland Afford to Be Safe? features past and current budget information as well as policing and academy costs.
Intuit Presents Tax Law Changes for Tax Year 2012intuitaccts
Get the very latest on important tax law changes that will impact returns for Tax Year 2012 from Intuit's Mike D'Avolio. These changes seem to come later and later each year. Let’s us do the legwork and keep you up to speed on current status of tax law changes and extensions.
This PowerPoint presentation represents how I present a municipal budget in the form most easily understood by both elected officials and the public alike.
Enbridge Inc. Second Quarter 2014 Financial ResultsEnbridge Inc.
Speakers:
Al Monaco, President and Chief Executive Officer, Enbridge Inc.
John K. Whelen, Executive Vice President & Chief Financial Officer, Enbridge Inc.
ACG 2071 Managerial Accounting
Reporting Cash Flows
Minicase
CASH FLOWS PROBLEM:
Kite Corporation, a merchandiser, recently completed its calendar-year 2011 operations. For the year,
(1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers,
(3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for
inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The
company's balance sheets and income statement follow. Prepare a statement of cash flows in good
form.
Joseph Corporation
Comparative Balance Sheet
December 31, 2011 and 2010
Assets
Cash $ 136,500.00 $ 71,550.00
Accounts Receivable $ 74,100.00 $ 90,750.00
Merchandise Inventory $ 454,500.00 $ 490,200.00
Prepaid Expenses $ 17,100.00 $ 19,200.00
Equipment $ 278,250.00 $ 216,000.00
Accumulated Depreciation $ (108,750.00) $ (93,000.00)
Total Assets $ 851,700.00 $ 794,700.00
Liabilities and Equity
Accounts Payable $ 117,450.00 $ 123,450.00
Short-term Notes Payable $ 17,250.00 $ 11,250.00
Long-term Notes Payable $ 112,500.00 $ 82,500.00
Common Stock, $5 par $ 465,000.00 $ 450,000.00
Paid in Capital in excess $ 18,000.00
Retained Earnings $ 121,500.00 $ 127,500.00
Total Liabilities & Equity $ 851,700.00 $ 794,700.00
ACG 2071 Managerial Accounting
Reporting Cash Flows
Minicase
Joseph Corporation
Income Statement
December 31, 2011
Sales
$ 1,083,000.00
Cost of goods sold
$ 585,000.00
Gross profit
$ 498,000.00
Operating Expenses
Depreciation expense $ 36,600.00
Rent Expense $ 150,000.00
Salaries Expense $ 175,000.00
Other Expenses $ 67,850.00
$ 429,450.00
$ 68,550.00
Other gains and losses
Loss on sale of equipment
$ 2,100.00
$ 66,450.00
Income tax expense
$ 9,450.00
Net Income
$ 57,000.00
Additional Information on Year 2011 Transactions
a. The loss on the cash sale of equipment was $2,100 (details in b).
b. Sold equipment costing $51,000, with accumulated depreciation of $20,850, for $28,050 cash.
c. Purchased equipment costing $113,250 by paying $38,250 cash and signing a long-term note
payable for the balance
d. Borrowed $6,000 cash by signing a short-term note payable.
e. Paid $45,000 cash to reduce the long-term notes payable.
f. Issued 3,000 shares of common stock for $11 cash per share.
g. Declared and paid cash divi.
SBA & City of Evanston Economic Injury Webinar - 4/1/2020cityofevanston
Stephen Konkle from the Small Business Administration (SBA) presents options for City of Evanston businesses in the wake of the COVID-19 disaster. Includes information on the Economic Injury Disaster Loans (EIDL).
Combined Illegal, Unregulated and Unreported (IUU) Vessel List.Christina Parmionova
The best available, up-to-date information on all fishing and related vessels that appear on the illegal, unregulated, and unreported (IUU) fishing vessel lists published by Regional Fisheries Management Organisations (RFMOs) and related organisations. The aim of the site is to improve the effectiveness of the original IUU lists as a tool for a wide variety of stakeholders to better understand and combat illegal fishing and broader fisheries crime.
To date, the following regional organisations maintain or share lists of vessels that have been found to carry out or support IUU fishing within their own or adjacent convention areas and/or species of competence:
Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR)
Commission for the Conservation of Southern Bluefin Tuna (CCSBT)
General Fisheries Commission for the Mediterranean (GFCM)
Inter-American Tropical Tuna Commission (IATTC)
International Commission for the Conservation of Atlantic Tunas (ICCAT)
Indian Ocean Tuna Commission (IOTC)
Northwest Atlantic Fisheries Organisation (NAFO)
North East Atlantic Fisheries Commission (NEAFC)
North Pacific Fisheries Commission (NPFC)
South East Atlantic Fisheries Organisation (SEAFO)
South Pacific Regional Fisheries Management Organisation (SPRFMO)
Southern Indian Ocean Fisheries Agreement (SIOFA)
Western and Central Pacific Fisheries Commission (WCPFC)
The Combined IUU Fishing Vessel List merges all these sources into one list that provides a single reference point to identify whether a vessel is currently IUU listed. Vessels that have been IUU listed in the past and subsequently delisted (for example because of a change in ownership, or because the vessel is no longer in service) are also retained on the site, so that the site contains a full historic record of IUU listed fishing vessels.
Unlike the IUU lists published on individual RFMO websites, which may update vessel details infrequently or not at all, the Combined IUU Fishing Vessel List is kept up to date with the best available information regarding changes to vessel identity, flag state, ownership, location, and operations.
Working with data is a challenge for many organizations. Nonprofits in particular may need to collect and analyze sensitive, incomplete, and/or biased historical data about people. In this talk, Dr. Cori Faklaris of UNC Charlotte provides an overview of current AI capabilities and weaknesses to consider when integrating current AI technologies into the data workflow. The talk is organized around three takeaways: (1) For better or sometimes worse, AI provides you with “infinite interns.” (2) Give people permission & guardrails to learn what works with these “interns” and what doesn’t. (3) Create a roadmap for adding in more AI to assist nonprofit work, along with strategies for bias mitigation.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
About Potato, The scientific name of the plant is Solanum tuberosum (L).Christina Parmionova
The potato is a starchy root vegetable native to the Americas that is consumed as a staple food in many parts of the world. Potatoes are tubers of the plant Solanum tuberosum, a perennial in the nightshade family Solanaceae. Wild potato species can be found from the southern United States to southern Chile
Synopsis (short abstract) In December 2023, the UN General Assembly proclaimed 30 May as the International Day of Potato.
2. Executive Summary
• All figures in this report are preliminary and unaudited. Annual audited
report distribution date is anticipated in June.
• The amended FY 2012 General Fund budget contained a $1.75M
deficit due to transfers to the Capital Improvement ($1.25M) and
Equipment Replacement ($500K) Funds.
• General Fund revenues finished above budget (favorable variance) by
approximately $480K or 0.6%.
• General Fund expenditures finished below budget (favorable variance)
by approximately $919K or 1.1%.
• The result is a General Fund net deficit of approximately $346K,
compared to the planned deficit of $1.75M. 2
3. General Fund Revenue
• Property Taxes came in at approximately $12.4M compared or about
$123K over budget due to prior year tax receipts.
• Combined Sales Taxes (Basic + Home Rule) came in at $14.3M or
about $883K below budget.
– Three-month delay in sales tax disbursals from the State
– Year-end sales tax revenues are estimated
– December sales tax receipts may reduce shortfall
• Real Estate Transfer Taxes came in at approximately $2M or about
$300K above budget.
• Income Taxes came in at approximately $6.4M or about $622K above
budget.
3
4. General Fund Revenue
• Building Permits came in at approximately $3.5M or about $752K
above budget. The top three building permits for 2012 included:
– Northwestern University School of Music - $1,273,827
– Focus Development Apartments - $452,170
– Northwestern University Visitors Center - $414,746
• Utility Taxes (electric, natural gas, telecommunications) came in at
approximately $8M or $645K under budget. This was primarily due to
the mild winter.
• Both Liquor and Parking Taxes exceeded budget by approximately
$200K for each item.
• Total revenue came in at approximately $83.2M or about $480K above
budget.
4
5. General Fund Revenue
• Unaudited Year-End 2012 General Fund Revenue Summary:
5
Revenues Budget Actual
% of
Budget
Property Tax 12,296,386$ 12,420,307$ 101.0%
Sales Tax 15,206,475 14,323,270 94.2%
State Income Tax 5,853,839 6,476,173 110.6%
Utility Tax 8,672,006 8,026,739 92.6%
Real Estate Transfer Tax 1,725,000 2,026,863 117.5%
Liquor Tax 2,070,063 2,262,396 109.3%
Other Taxes 5,860,547 5,629,170 96.1%
Licenses, Permits, Fees 8,652,861 10,474,362 121.1%
Charges for Services 7,853,023 8,064,606 102.7%
Intergovernmental Revenues 669,897 862,151 128.7%
Interfund Transfers 7,890,068 7,708,590 97.7%
Other Non-Tax Revenue 5,950,622 4,906,575 82.5%
Total Revenues 82,700,787$ 83,181,202$ 100.6%
6. General Fund Expenditures
6
• FY 2012 Budget
Amendment contained
a budgeted General
Fund deficit of $1.75M.
• Total expenditures
came in at
approximately $83.5M
or 1.1% below budget.
• The $346K General
Fund deficit for FY
2012 decreased fund
balance from $18.39M
to $18.05M.
• Planned General Fund
balance was $16.65M.
Expenditures Budget Actual
% of
Budget
Legislative 616,033 628,543 102.0%
City Administration 1,856,258 1,606,510 86.5%
Law Department 999,107 978,867 98.0%
Administrative Services 8,643,197 7,919,254 91.6%
Community and Economic Dev. 3,148,339 3,093,549 98.3%
Police 24,752,938 25,400,515 102.6%
Fire 13,314,621 13,451,268 101.0%
Health 2,413,969 2,231,646 92.4%
Public Works 9,559,460 9,065,156 94.8%
Parks, Rec. and Comm. Serv. 17,392,621 17,402,177 100.1%
Transfer to Capital Improvement 1,250,000 1,250,000 100.0%
Transfer to Equipment Replacement 500,000 500,000 100.0%
Total Expenditures 84,446,543$ 83,527,485$ 98.9%
7. Year-End FY 2012
Fund Balance Estimate
7
General
Fund
Audited unrestricted, unassigned fund balance @ 12/31/11 $ 10,802,937
Audited unrestricted, assigned fund balance @ 12/31/11 $ 7,590,232
Total Unrestricted Fund Balance @ 12/31/11 $ 18,393,169
Unaudited General Fund revenues FY 2012 $ 83,181,202
Unaudited General Fund expenditures FY 2012 $ 83,527,485
Unaudited net surplus (deficit) FY 2012 $ (346,283)
Estimated unrestricted, fund balance @ 12/31/11 $ 18,046,886
Estimated unrestricted, cash balance @ 12/31/11 $ 10,674,525
9. Other Fund Revenue:
Major Variances
• The favorable variance (actual revenue more than budgeted revenue)
of $361K in the Library Fund is primarily due to a one-time transfer of
assets from the General Fund totaling $521,920 (Library Gift Funds,
Electronic-Payment Gift Funds, Fine Accounts and Petty Cash).
• The following funds ended FY 2012 with favorable revenue variances
due to higher than anticipated intergovernmental program entitlements:
– Neighborhood Stabilization Fund - $692K
– CDBG Fund - $349K
– CD Loan Fund - $249K
– Home Fund - $195K
• The unfavorable variance of $302K in the Economic Development
Fund is due to lower than anticipated hotel and amusement tax
revenue.
9
10. Other Fund Revenue:
Major Variances
• The following TIF districts ended FY 2012 with unfavorable variances
due to lower than anticipated property tax increment:
– Washington National TIF - $335K
– Howard-Ridge TIF - $376K
• The unfavorable variance of $2.8M in the West Evanston TIF is
primarily due to the deferral of general obligation bonds for capital
projects.
• The favorable variance of $4M in the Debt Service Fund was due to
the refinancing of the 2002C bonds, which was totally offset by the
payment of the bonds.
• The unfavorable variance of $3.6M in the Capital Improvement Fund
was primarily due to budgeted grants which were not awarded to the
City.
10
11. Other Fund Revenue:
Major Variances
• The favorable variance of $838K in the Water Fund was primarily due
to higher than anticipated water usage.
• The unfavorable variance of $3.9M in the Sewer Fund was primarily
due to deferral of 2012 IEPA Loan proceeds (operating revenues were
approximately $1.2M above budget).
• The unfavorable variance of $886K in the Equipment Replacement
Fund was primarily due to a reduced transfer from the Fleet Fund.
11
12. Other Fund Expenditures
• The unfavorable variance (actual expenditures exceeded budgeted
expenditures) of $606K in the Neighborhood Stabilization Fund was
due to higher than anticipated development activity expenses.
• The favorable variance of $219K in the Motor Fuel Tax Fund was
primarily due to favorable bid pricing for street resurfacing projects.
• The favorable variance of $7.7M in the Capital Improvement Fund was
primarily due to grant-funded projects which were not awarded and
other project deferrals.
– Deferrals = $3.7M
– Grants = $4.0M
• The unfavorable variance of $3.6M in the Debt Service Fund was
primarily due to refinancing of the 2002C general obligation bonds.
12
13. Other Fund Expenditures
• The following funds ended FY 2012 with favorable variances primarily
due to lower than anticipated capital project expenditures:
– Emergency 911 Fund - $220K
– Washington National TIF Fund - $3.1M
– Howard-Hartrey TIF - $1.8M
– Southwest TIF - $579K
– Howard-Ridge TIF - $1.2M
– West Evanston TIF Fund - $2.8M
• FY 2012 expenses for the Howard-Ridge TIF include a refund to 415
Howard Street for 2008 taxes totaling $540K.
• The following funds ended FY 2012 with favorable expenditure
variances due to lower than anticipated development activity
expenses:
– Economic Development Fund - $433K
– Affordable Housing Fund - $135K
13
14. 14
Other Fund Expenditures
• The following enterprise funds ended FY 2012 with favorable variances
due to lower than anticipated capital and operating expenditures:
– Parking Fund - $4.5M
• Parking Meter Replacement
• Sherman Avenue Garage
– Water Fund - $1.7M
– Sewer Fund - $4M
– Equipment Replacement - $442K
• The favorable variance of $565K in the Solid Waste Fund was primarily
due to lower than anticipated expenditures associated with the City’s
refuse, recycling and yard waste program.
• The favorable variance of $790K in the Fleet Fund is primarily due to
the reduced transfer to the Equipment Replacement Fund.
• The unfavorable variance of $644K in the Insurance Fund was
primarily due to higher than anticipated liability settlement payments.
15. Year-End FY 2012
Capital Projects Overview
15
Unaudited Capital Projects Expenses through 12/31/12 by Fund:
Amended YTD Expenses
Funding Source FY2012 12/31/2012
MFT Fund 1,400,000$ 1,181,453$
CDBG Fund 255,000 288,722
Economic Development Fund 160,000 -
Washington National TIF Fund 2,536,000 1,141,424
Howard-Hartrey TIF Fund 1,500,000 22,185
Southwest TIF Fund 580,000 -
Howard-Ridge TIF Fund 900,000 120,938
West Evanston TIF Fund 2,270,000 1,369,476
Capital Improvements Fund 14,650,358 5,418,535
Special Assessment Fund 1,155,000 1,741,501
Parking Fund 3,400,000 1,829,068
Water Fund 7,837,000 6,136,142
Sewer Fund 4,753,000 726,470
TOTAL 41,396,358$ 19,975,914$
16. Fiscal Year 2012 Summary
• General Fund
– FY 2012 General Fund had a budgeted deficit of $1.75M, actual deficit was $346,283.
– Year-End fund balance was $18.04M, which is 21.6% of 2012 expenses.
• Capital Improvement Program
– Capital revenues and expenditures for FY 2012 were below budget
– $4M of anticipated project grants were not awarded to City
• Enterprise Funds - Water, Sewer and Solid Waste Funds ended FY 2012
with surpluses
• Pension funding remains a major financial concern.
– Police and Fire Pensions
– PSEBA / OPEB unfunded liability of $17M
• Moody’s and Fitch rating services have affirmed the City’s Aaa and AAA
ratings respectively.
16