HomeMy WebLinkAbout101723-3.13.1
TOWN OF DANVILLE
GENERAL FUND BALANCE ANALYSIS
AS OF JUNE 30, 2023
Presented to Finance Committee on 10/17/23
June 30, 2023 June 30, 2022
TOTAL PRE-AUDIT FUND BALANCE AT 6/30/23 28,878,517 26,626,208
Adjust for unrealized market value reported per GASB 31 requirement (3,114,469)1,050,668
Adjust for unrealized leased income/loss reported per GASB 86/87 requirement (721,576)(38,077)
FUND BALANCE without UNREALIZED MARKET value 25,042,472 27,638,799
Less Reserves/Designations Against Fund Balance for:
Operating Reserve 13,809,768 13,809,768
Receivable from CDA 2,859,401 3,959,401
Compensated Absences/Personnel 1,465,232 1,195,339
Reserved for Debt Service 827,765 809,648
Contingency 782,066 782,066
Encumbrances 822,879 1,036,271
500 La Gonda Way reserved 1,516,413 1,266,413
Reward Fund 10,000 10,000
Total Reserves/Designations Against Fund Balance 22,093,524 22,868,906
CURRENT UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/23 2,948,948 4,769,893
TOWN OF DANVILLE
FUND BALANCE OPTIONS
AS OF JUNE 30, 2023
CIP - General Purpose 0 3,250,000
Emergency Reserve Fund 2,948,948 0
Compensation Absence 0 269,893
Assets Replacement 0 1,000,000
500 La Gonda Way 0 250,000
Optional Use of Recommended Available Fund Balance at 6/30/23 2,948,948 4,769,893