HomeMy WebLinkAbout101921-03.13.1
TOWN OF DANVILLE
GENERAL FUND BALANCE ANALYSIS
AS OF JUNE 30, 2021
Presented to Finance Committee on 10/19/21
June 30, 2021 June 30, 2020
TOTAL PRE -AUDIT FUND BALANCE AT 6/30/21 $ 34,535,719 $ 26,574,948
Adjust for unrealized market value reported per GASB 31 requirement $ (1,050,668) $ (714,200)
FUND BALANCE without UNREALIZED MARKET value $ 33,485,051 $ 25,860,748
Less Reserves/Designations Against Fund Balance for:
Operating Reserve
$
12,309,768
$
12,309,768
Receivable from CDA
$
5,059,401
$
6,159,401
Compensated Absences/Personnel
$
1,195,339
$
1,195,339
Reserved for Debt Service
$
809,518
$
815,484
Contingency
$
348,446
$
516,446
Encumbrances
$
907,310
$
443,012
COVID Reserved
$
3,392,641
115 Hartz Ave - proceeds of asset sale & rental
$
253,904
$
108,745
500 La Gonda Way rental
$
1,112,509
$
409,912
Reward Fund
$
10,000
$
10,000
Total Reserves/Designations Against Fund Balance
$
25,398,836
$
21,968,107
CURRENT UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/21
$
8,086,215
$
3,892,641
Less funds recommended to be designated
Reserved for Special Election
Contingency
$
- $
250,000
RECOMMENDED UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/21
$
8.086,215 $
3,642,641
TOWN OF DANVILLE
FUND BALANCE OPTIONS
June 30, 2021
CIP - General Purpose 6,100,000 250,000
Operating Reserve 1,500,000
Contingency 486,215
COVID Reserve Fund 0 3,392,641
Optional Use of Recommended Available Fund Balance at 6/30/21 8,086,215 3,642,641