HomeMy WebLinkAbout110624 - 3.1TOWN OF DANVILLE
GENERAL FUND BALANCE ANALYSIS
AS OF JUNE 30, 2024
Presented to Finance Committee on 11/06/24
June 30, 2024 June 30, 2023
TOTAL PRE-AUDIT FUND BALANCE AT 6/30/24 36,897,760$ 28,878,517$
Adjust for unrealized market value reported per GASB 31 requirement (3,762,414)$ (3,114,469)$
Adjust for unrealized leased income/loss reported per GASB 86/87 requirement (605,294)$ (721,576)$
FUND BALANCE without UNREALIZED MARKET value 32,530,052$ 25,042,472$
Less Reserves/Designations Against Fund Balance for:
Operating Reserve 16,009,768$ 13,809,768$
Receivable from CDA 1,759,401$ 2,859,401$
Compensated Absences/Personnel 1,465,232$ 1,465,232$
Reserved for Debt Service 848,843$ 827,765$
Contingency 510,470$ 782,066$
Encumbrances 877,166$ 822,879$
Emergency Reserved 1,985,327$ -$
500 La Gonda Way reserved 1,516,413$ 1,516,413$
Reward Fund 10,000$ 10,000$
Total Reserves/Designations Against Fund Balance 24,982,620$ 22,093,524$
CURRENT UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/24 7,547,432$ 2,948,948$
Less funds recommended to be designated
Compensated Absences 750,000$ -$
Contingency 500,000$ -$
500 La Gonda (Roof)300,000$ -$
Asset Replacement 1,000,000$ -$
RECOMMENDED UNRESERVED/UNDESIGNATED FUND BALANCE AT 6/30/24 4,997,432$ 2,948,948$
TOWN OF DANVILLE
FUND BALANCE OPTIONS
June 30, 2024
CIP - General Purpose 4,997,432$ -$
Emergency Reserve Fund -$ 2,948,948
Optional Use of Recommended Available Fund Balance at 6/30/24 4,997,432 2,948,948
3.1