image
|
|
|
|
|
|
|
Phone: (314) 843-0102
|
Fax: (314) 843-0508
|
flag image

Crestwood year-to-date overall fund balance up more than $630,000


Kari Williams
Staff Reporter
November 07, 2012 - Though all three of Crestwood's funds decreased overall by $460,366 for the third-quarter, the city increased its year-to-date overall fund balance by more than $630,000.

Finance Officer Greg Kremer presented the city's third-quarter financial report to the Board of Aldermen at its Oct.

Citywide, revenues totaled $2,306,840 for the third quarter, which ran from July 1 to Sept. 30. Expenditures totaled $2,767,206, decreasing the overall fund balance by $460,366, according to information Kremer provided to the board.

The city's general revenue fund reached $1,603,560 in the third quarter. Year-to-date revenues for the general fund are at $5,942,661. Revenue is down roughly $66,000 from the same time period in 2011.

"The main driver for the decrease are lower utility taxes collected — natural gas receipts — and lower fines and forfeitures — traffic fines and court costs," Kremer wrote. "Sales tax receipts in 2012 are up approximately $43,000 compared to the same period in 2011— the increase in sales tax receipts is due to the timing of the county's sales-tax sharing formula."

Third-quarter expenditures totaled $1,864,467 for the general fund, making year-to-date expenditures $5,512,444. Kremer wrote that "referencing the third quarter 2011 financial report, on a (year-to-date) basis, the city has expended 66.1 percent of budgeted expenditures."

In capital improvement, revenues came in at $253,646 for the third quarter, "bringing (year-to-date) revenues to $915,186." Revenue is "basically flat" in the capital improvement fund compared to last year, according to Kremer. 
"The city has received approximately $17,000 less in sales tax receipts in 2012 compared to 2011 on a (year-to-date) basis," Kremer wrote. "However, that decrease has been offset by revenue received from the sale of city vehicles and higher grant revenue."

Expenditures for capital improvement are $411,538 for the third quarter, making year-to-date expenditures $958,541. Mill and overlay work increased expenditures in 2012 from 2011, according to Kremer's report.

The capital improvement fund also received a transfer-in from the park and stormwater fund of $48,000, according to Kremer. The fund balance decreased by $109,892 for the third quarter, but year-to-date, the balance has increased by $4,645.

In the park and stormwater fund, third quarter revenues totaled $449,634, making year-to-date revenues $1,462,678. Revenues are "basically flat" compared to 2011, according to Kremer.

"The city has received approximately $23,000 less in sales tax receipts in 2012 compared to 2011 on a year-to-date basis," Kremer wrote. "However, that decrease has been offset by higher charges for services receipts."

Third-quarter park and stormwater expenditures came in at $491,201, according to Kremer, "bringing (year-to-date) expenditures to $2,067,291."

Overall, the park and stormwater fund balance has decreased by $3,805.

In other business, the board approved the following items:

● Request for qualifications for legal services.

● A second reading of an ordinance for a budget amendment to the general fund.


Tags: Crestwood News


  • Related Editorial
    Impact News
    Local meeting guide 2017
    Jan 08 2014
    All meeting times, dates and locations are subject to change for 2017. ...
    Impact News
    Total Eclipse 2017: No shortage of events for total eclipse
    ‘Excitement is building’ for first total eclipse in St. Louis since 1442, Stenger says
    Aug 16 2017
    As the path of totality of the Great American Solar Eclipse crosses directly through south county next week, schools, residents and government agencies are gearing up for what could be a once-in-a-lifetime ...
    Impact News
    Lindbergh community celebrates opening of Dressel Elementary
    School will be a ‘relief valve’ to ease district overcrowding
    Aug 09 2017
    A ribbon-cutting ceremony last week marking the grand opening of Lindbergh Schools’ state-of-the-art new Dressel Elementary School was “a historic day,” according to Superintendent Jim Simpson....
    Opinions
    Transparency continuing to take a hit under Stump
    'Call the Tune' by Mike Anthiony: Crestwood becomes opaque with city attorney’s guidance
    Aug 09 2017
    Simple math apparently is a topic protected by attorney-client privilege in Crestwood....
    Sports
    Crestwood to offer 13th annual Kids’ Triathlon
    Aug 09 2017
    The Crestwood Parks and Recreation Department will sponsor its 13th annual Kids’ Triathlon at 8 a.m. Sunday, Aug. 26, at the Aquatic Center at Whitecliff Park, 9245 Whitecliff Park Lane....
Site Search


Weather
Type in your zip code and click "Go" to get your 7-day forecast.
Visit www.crh.noaa.gov