2009-10 Adopted Budget - City of Hoquiam

K. General Capital Reserve - #114Overview:The General Capital Reserve fund provides for the collection of the City's 0.25% RealEstate Excise Tax (REET). By law, the City's share of the REET can only be spent oninfrastructure improvements or construction of City facilities.The General Capital Reserve fund is budgeted to begin the year with a $310,000beginning balance.Revenues:For 2009, REET revenues are projected to total $56,000 and increase to $57,000 in2010.Appropriations and Transfers out:The General Capital Reserve fund does not include an expenditure budget, but ratherfunds are transferred to other operating funds for facility improvements. In 2009 and2010, $25,000 is budgeted in each year for improvements to City Hall. This fund isbudgeted to end the biennium with a $373,000 ending balance.100