Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual (Non-GAAP Basis)
Tenant Ownership Rights Charter Amendment
(TORCA) Special Revenue Fund
Year ended June 30, 2008
98
Less
2006-2007 Plus Actual, Variance –
encumbered 2007-2008 budgetary positive
Budget Actual expenditures* encumbrances basis (negative)
Revenues:
Other taxes $ 100,000 381,320 — — 381,320 281,320
Investment income 240,000 373,448 — — 373,448 133,448
Other — 100,000 — — 100,000 100,000
Total revenues 340,000 854,768 — — 854,768 514,768
Expenditures:
Housing and community development:
Supplies 8,729 8,729 — — 8,729 —
Capital improvement 7,381,177 187,685 — 2,906,022 3,093,707 4,287,470
Total housing and community development 7,389,906 196,414 — 2,906,022 3,102,436 4,287,470
Excess (deficiency) of revenues
over (under) expenditures (7,049,906) 658,354 — (2,906,022) (2,247,668) 4,802,238
Other financing (uses) – transfers out (70,530) (28,506) — — (28,506) 42,024
Net change in fund balance (7,120,436) 629,848 — (2,906,022) (2,276,174) 4,844,262
Fund balance at beginning of year 16,924,670 16,924,670 — — 16,924,670 —
Fund balance at end of year $ 9,804,234 17,554,518 — (2,906,022) 14,648,496 4,844,262
* No encumbrances were outstanding at June 30, 2007.