2 - Fund Balance TransferCity of Otsego
Fund Balance Policy
General Fund Transfer
2017
1^
2017 General Fund Budget
Minimum Fund Balance
2016 Ending Fund Balance
Excess
Calculation
5,040,565 Resolution 2016-102
Comments
2,268,254 The City's Fund Balance states that the minimum General Fund Balance should be 45% of the subsequent year budget.
3,646,202 Per Audited Financial Statements
(172,408) Less: Fund Balance from Insurance Reserve Fund (#204) - Grouped with General for Financial Reporting
(20,000) Less: Fund Balance from Educational Programming Fund (#215) - Grouped with General for Financial Reporting
(110,973) Less: Nonspendable Fund Balance - Financial Reporting Requirement - Funds actually have alredy been expended.
3,342,821 Fund Balance Available (Unassigned)
1,074,567 Council Approved -June XX, 2017
U:\Budget\2018\Calculation of Fund Balance Policy Transfers 2017