Kennedale Monthly Financial Reports
TO Mayor and Members of City Council Darrell Hull, City Manager
FROM Jon Horton, Finance Director
DATE April 16, 2024
SUBJECT Monthly Financial Report for March 2024 Below is an overview of the monthly financial results for the current fiscal year through March.
Detail schedules for each fund are attached for your review. Results through March represent 50% of the fiscal year.
GENERAL FUND (01)
◊ Property tax revenues received year-to-date $5,825,984; 97.4% of total budget; prior year receipts through March were 95.4% of total
◊ Sales tax revenues received year-to-date $742,468; 37.3% of total budget; receipts from the State are two months delayed; i.e. October sales taxes are received in December; November in January, etc.
◊ Prior year Sales Tax receipts through March were $698,941; 31.1% of collections for the fiscal year
◊ General Fund expenditures year-to-date $4,561,392; 44.5% of total budget
◊ Fund Balance year-to-date is $6,333,483; 221 days of total budgeted expenditures and transfers out; revenues are ahead of spending for the fiscal year therefore fund balance is more than the projected fund balance for year-end of $3,083,305 or 108 days of total budgeted expenditures and transfers out
WATER/SEWER FUND (10)
◊ Water service sales year-to-date $1,157,846; 40.3% of budget
◊ Sewer service sales year-to-date $862,315; 50.4% of budget
◊ Utility Billing and Operations expenditures year-to-date $1,768,184; 48.8% of total budget
◊ Working Capital year-to-date is $17,522,283; 492 days of total budgeted expenditures and transfers out; budgeted Days of Working Capital at year-end is 267 days
STORMWATER FUND (07)
◊ Drainage fees year-to-date $138,112; 51.2% of budget
◊ Stormwater Fund expenditures year-to-date $107,234; 49.7% of total budget
◊ Working Capital year-to-date is $804,661; 1,362 days of total budgeted expenditures and transfers out; budgeted Days of Working Capital at year-end is 1,380 days
EDC FUND (15)
◊ Sales tax revenues received year-to-date $247,270; 40.3% of total budget; receipts from the State are two months delayed; i.e. October sales taxes are received in December; November in January, etc.
◊ Prior year Sales Tax receipts through March were $216,798; 35.3% of collections for the year. ◊ Rental fees for the Shopping Center year-to-date $165,972; 53.4% of total budget
◊ EDC Operations expenditures year-to-date $444,233; 62.2% of total budget; includes $20,264 for annual Christmas event
◊ EDC Town Shopping Center expenditures year-to-date $93,695; 27.7% of total budget
◊ Fund Balance year-to-date is $2,142,292; 549 days of total budgeted expenditures and transfers out; budgeted Fund Balance at year-end is 463 days
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
GENERAL FUND (01) PRIOR YEAR FY2023 CURRENT YEAR FY2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
GENERAL FUND REVENUES
Property Taxes $ 5,763,918 $ 82,570 $ 5,497,123 95.4% $ 5,980,866 $ 72,969 $ 5,825,984 97.4% $ 154,882
Sales Taxes 2,248,383 142,112 698,941 31.1% 1,991,717 209,530 742,468 37.3% 1,249,249
Grants and Contributions 135,199 970 72,476 53.6% - - - 0.0% -
Licenses and Permits 281,185 29,180 166,751 59.3% 449,884 62,681 202,751 45.1% 247,133
Fines and Fees 232,568 17,775 90,802 39.0% 215,000 30,179 150,628 70.1% 64,372
Charges for Services 244,123 18,661 93,546 38.3% 225,000 28,533 143,186 63.6% 81,814
Intergovernmental 220,794 27,074 54,139 24.5% 165,000 16,459 33,039 20.0% 131,961
All Other Revenues 198,750 13,952 63,010 31.7% 154,999 16,000 176,128 113.6% (21,129)
Total General Fund Revenues 9,324,921 332,293 6,736,788 72.2% 9,182,466 436,351 7,274,184 79.2% 1,908,282
GENERAL FUND EXPENDITURES
City Manager - Dept 01 337,821 16,492 97,934 29.0% 366,952 24,789 157,284 42.9% 209,668
Mayor/Council - Dept 02 151,730 22,149 48,457 31.9% 187,100 32,456 85,566 45.7% 101,534
City Secretary - Dept 03 162,093 4,269 31,719 19.6% 194,147 13,769 77,142 39.7% 117,005
Municipal Court - Dept 04 183,567 13,933 74,327 40.5% 225,108 15,237 90,529 40.2% 134,579
Human Resources - Dept 05 163,243 12,165 78,689 48.2% 224,532 19,737 87,552 39.0% 136,980
Finance - Dept 07 470,272 43,874 135,576 28.8% 545,262 45,874 246,628 45.2% 298,634
Police - Dept 09 3,477,459 226,126 1,671,310 48.1% 3,606,007 229,130 1,710,415 47.4% 1,895,592
Fire - Dept 10 2,674,797 212,184 1,225,521 45.8% 2,961,998 223,624 1,262,470 42.6% 1,699,528
Community Development - Dept 12 617,476 81,012 236,931 38.4% 664,041 29,620 216,458 32.6% 447,583
Senior Citizen Center - Dept 16 48,584 4,682 22,406 46.1% 53,172 2,870 18,022 33.9% 35,150
Library - Dept 17 393,462 32,366 174,677 44.4% 501,153 31,600 189,108 37.7% 312,045
Communications - Dept 18 - - - 0.0% 26,100 721 2,055 7.9% 24,045
Non Departmental - Dept 90 544,203 (133,193) 231,072 42.5% 701,667 13,730 418,163 59.6% 283,504
Total General Fund Expenditures 9,224,706 536,059 4,028,620 43.7% 10,257,239 683,156 4,561,392 44.5% 5,695,847
Revenues Over (Under) Expenditures 100,215 (203,766) 2,708,168 (1,074,773) (246,805) 2,712,792
Transfers In 1,193,374 355,320 596,687 50.0% 1,263,732 105,311 631,866 50.0% 631,866 T
ransfers (Out) (391,090) (157,157) (233,207) 59.6% (188,958) (15,747) (94,479) 50.0% (94,479)
Net Change in Fund Balance 902,498 (5,604) 3,071,648 1 (157,241) 3,250,179
Beginning Fund Balance - Decober 1 2,180,806 2,180,806 3,083,304 3,083,304
Ending Fund Balance - year-to-date $ 3,083,304 $ 5,252,454 $ 3,083,305 $ 6,333,483
Average Daily Annual Expenditures $ 26,345 $ 28,620
Days of Fund Balance 117 199 108 221
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
Stormwater Utility Fund (07)
Stormwater Utility Fund Revenues $ 304,330 $ 25,530 $ 150,380 49.4% $ 272,850 $ 24,967 $ 153,484 56.3% $ 119,366
Stormwater Utility Fund Expenditures 222,314 98,360 101,653 45.7% 215,655 16,463 107,234 49.7% 108,421
Revenues Over (Under) Expenditures 82,016 (72,831) 48,727 57,195 8,504 46,251
Beginning Fund Balance - Decober 1 676,394 676,394 758,410 758,410
Ending Fund Balance - year-to-date $ 758,410 $ 725,121 $ 815,605 $ 804,661
Average Daily Annual Expenditures $ 609 $ 591 Days of Fund Balance 1245 1191 1380 1362
Water/Sewer Fund (10)
Water/Sewer Fund Revenues $ 20,977,062 $ 416,319 $ 2,345,832 11.2% $ 5,022,628 $ 406,021 $ 2,589,587 51.6% $ 2,433,041
Water/Sewer Fund Expenditures Utility Billing - Dept 01 2,073,319 339,069 822,408 39.7% 1,450,700 136,080 568,923 39.2% 881,777
Operations - Dept 02 1,882,616 (1,175,915) 743,522 39.5% 2,172,320 141,987 1,199,260 55.2% 973,060
Debt Service - Dept 03 613,060 - 276,243 45.1% 295,312 - 283,012 95.8% 12,300
Capital Projects - Dept 04 320,647 - 28,600 8.9% 8,315,000 1,408 18,208 0.2% 8,296,792
Non Departmental - Dept 90 1,321,912 (5,476) 415,893 31.5% 757,450 58,555 368,980 48.7% 388,470
Total Water/Sewer Fund Expenditures 6,211,555 (842,323) 2,286,667 36.8% 12,990,782 338,030 2,438,384 18.8% 10,552,398
Revenues Over (Under) Expenditures 14,765,508 1,258,642 59,165 (7,968,154) 67,991 151,204
Transfers In 187,525 20,627 93,763 50.0% 187,525 15,627 93,762 50.0% 93,763
Net Change in Fund Balance 14,953,033 1,279,269 152,928 (7,780,629) 83,618 244,966
Beginning Fund Balance - Decober 1 2,324,284 2,324,284 17,277,317 17,277,317
Ending Fund Balance - year-to-date $ 17,277,317 $ 2,477,212 $ 9,496,688 $ 17,522,283
Average Daily Annual Expenditures $ 17,018 $ 35,591
Days of Fund Balance 1015 146 267 492
Water Impact Fee Fund (61)
Water Impact Fund Revenues $ 18,848 $ 169 $ 11,131 59.1% $ 58,752 $ 219 $ 12,918 22.0% $ 45,834
Water Impact Fund Expenditures 0 - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 18,848 169 11,131 58,752 219 12,918
Transfers (Out) (30,000) (15,000) (15,000) 50.0% (30,000) (2,500) (15,000) 50.0% (15,000)
Net Change in Fund Balance (11,152) (14,831) (3,869) 28,752 (2,281) (2,082)
Beginning Fund Balance - Decober 1 109,672 109,672 98,520 98,520
Ending Fund Balance - year-to-date $ 98,520 $ 105,803 $ 127,272 $ 96,438
Sewer Impact Fee Fund (62)
Fund 62 Sewer Impact Fund Revenues $ 19,289 $ 274 $ 9,507 49.3% $ 111,348 $ 301 $ 17,626 15.8% $ 93,722
Fund 62 Sewer Impact Fund Expenditures - - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 19,289 274 9,507 111,348 301 17,626
Transfers (Out) (60,000) (5,000) (30,000) 50.0% (60,000) (5,000) (30,000) 50.0% (30,000)
Net Change in Fund Balance (40,712) (4,726) (20,493) 51,348 (4,699) (12,374)
Beginning Fund Balance - Decober 1 184,924 184,924 144,213 144,213
Ending Fund Balance - year-to-date $ 144,213 $ 164,431 $ 195,561 $ 131,838
UTILITY FUNDS PRIOR YEAR FY2023
CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining
Budget Debt Service Fund Revenues $ 1,588,320 $ 22,071 $ 1,335,914 84.1% $ 2,683,268 $ 30,116 $ 2,268,549 84.5% $ 414,719
Debt Service Fund Expenditures 1,724,475 - 1,559,797 90.5% 2,564,324 - 2,097,002 81.8% 467,322
Revenues Over (Under) Expenditures (136,154) 22,071 (223,883) 118,944 30,116 171,547
Beginning Fund Balance - Decober 1 838,142 838,142 701,988 701,988
Ending Fund Balance - year-to-date 701,988 614,259 820,932 873,535
DEBT SERVICE FUND (02) PRIOR YEAR FY2023 CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
Capital Projects Fund (04)
Capital Projects Fund Revenues $ 120,531 $ 9,358 $ 58,894 48.9% $ 95,700 $ 9,870 $ 50,911 53.2% $ 44,789
Capital Projects Fund Expenditures - - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 120,531 9,358 58,894 95,700 9,870 50,911
Transfers (Out) (104,800) - - 0.0% (108,055) - - 0.0% (108,055)
Net Change in Fund Balance 15,731 9,358 58,894 (12,355) 9,870 50,911
Beginning Fund Balance - Decober 1 174,591 174,591 190,322 190,322
Ending Fund Balance - year-to-date $ 190,322 $ 233,485 $ 177,967 $ 241,233
Capital Bond Fund (13)
Capital Bond Fund Revenues $ 2,806,125 $ (364,492) $ (301,822) -10.8% $ 173,250 $ 19,415 $ 178,945 103.3% $ (5,695)
Capital Bond Fund Expenditures 2,050,231 43,476 1,093,070 53.3% 6,768,295 46,292 319,281 4.7% 6,449,014
Revenues Over (Under) Expenditures 755,895 (407,968) (1,394,892) (6,595,045) (26,877) (140,336)
Beginning Fund Balance - Decober 1 8,057,939 8,057,939 8,813,834 8,813,834
Ending Fund Balance - year-to-date $ 8,813,834 $ 6,663,047 $ 2,218,789 $ 8,673,497
Park Dedication Fund (14)
Park Dedication Fund Revenues $ 36,806 $ 2,243 $ 13,545 36.8% $ 27,000 $ 1,014 $ 23,847 88.3% $ 3,153
Park Dedication Fund Expenditures 177,820 - - 0.0% 45,000 259,118 259,118 575.8% (214,118)
Revenues Over (Under) Expenditures (141,014) 2,243 13,545 (18,000) (258,104) (235,271)
Beginning Fund Balance - Decober 1 699,736 699,736 558,722 558,722
Ending Fund Balance - year-to-date $ 558,722 $ 713,281 $ 540,722 $ 323,451
Library Building Fund (32)
Library Building Fund Revenues $ 215 $ 75 $ 135 63.0% $ 202 $ 35 $ 206 102.2% $ (4)
Library Building Fund Expenditures 0 - - 0.0% 0 - - 0.0% 0
Revenues Over (Under) Expenditures 215 75 135 202 35 206
Beginning Fund Balance - Decober 1 (1,868) (1,868) (1,653) (1,653)
Ending Fund Balance - year-to-date $ (1,653) $ (1,733) $ (1,451) $ (1,447)
Roadway Impact Fee Fund (45)
Roadway Impact Fee Fund Revenues $ 53,675 $ 22,484 $ 37,066 69.1% $ 141,695 $ 869 $ 15,832 11.2% $ 125,863
Roadway Impact Fee Fund Exp - - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 53,675 22,484 37,066 141,695 869 15,832
Transfers (Out) (107,525) 53,540 (53,763) 50.0% (107,525) (8,960) (53,762) 50.0% (53,763)
Net Change in Fund Balance (53,850) 76,023 (16,697) 34,170 (8,091) (37,930)
Beginning Fund Balance - Decober 1 623,604 623,604 569,754 569,754
Ending Fund Balance - year-to-date $ 569,754 $ 606,907 $ 603,924 $ 531,824
CAPITAL PROJECT FUNDS PRIOR YEAR FY2023 CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
TIF #1 New Hope Fund (21)
TIF #1 New Hope Fund Revenues $ 79,265 $ 151 $ 805 1.0% $ 72,406 $ 548 $ 5,181 7.2% $ 67,225
TIF #1 New Hope Fund Expenditures 48,848 - - 0.0% 378,229 - 16,720 0.0% 361,509
Revenues Over (Under) Expenditures $ 30,417 151 $ 805 $ (305,823) 548 $ (11,538)
Transfers In 167,883 (49,167) 5,000 3.0% 170,000 833 5,000 2.9% 165,000
Net Change in Fund Balance 198,300 (49,016) 5,805 (135,823) 1,382 (6,538)
Beginning Fund Balance - Decober 1 (21,022) (21,022) 177,278 177,278
Ending Fund Balance - year-to-date $ 177,278 $ (15,217) $ 41,455 $ 170,739
Hotel/Motel Tax Fund (30)
Hotel/Motel Tax Fund Revenues $ 38,749 $ 228 $ 11,578 29.9% $ 25,000 $ 165 $ 6,854 27.4% $ 18,146
Hotel/Motel Tax Fund Expenditures 13,258 155 155 1.2% 12,000 821 821 6.8% 11,179
Revenues Over (Under) Expenditures $ 25,491 73 $ 11,423 $ 13,000 (656) $ 6,033
Beginning Fund Balance - Decober 1 41,927 41,927 67,418 67,418
Ending Fund Balance - year-to-date $ 67,418 $ 53,350 $ 80,418 $ 73,451
Police Seizure Fund (31)
Police Seizure Fund Revenues $ 125 $ 5 $ 33 26.4% $ 80 $ 11 $ 78 97.8% $ 2
Police Seizure Fund Expenditures - - - 0.0% 3,810 - - 0.0% 3,810
Revenues Over (Under) Expenditures $ 125 5 $ 33 $ (3,730) 11 $ 78
Beginning Fund Balance - Decober 1 3,650 3,650 3,775 3,775
Ending Fund Balance - year-to-date $ 3,775 $ 3,683 $ 45 $ 3,853
LEOSE Fund (34)
LEOSE Fund Revenues $ 1,438 $ 1 $ 1,417 98.5% $ 1,421 $ 2,034 $ 3,721 261.9% $ (2,300)
LEOSE Fund Expenditures 1,590 1,415 1,590 100.0% 1,500 - - 0.0% 1,500
Revenues Over (Under) Expenditures $ (152) (1,414) $ (173) $ (79) 2,034 $ 3,721
Beginning Fund Balance - Decober 1 1,002 1,002 850 850
Ending Fund Balance - year-to-date $ 850 $ 829 $ 771 $ 4,571
Disaster Recovery Fund (35)
Disaster Recovery Fund Revenues $ 295,290 $ 2,988 $ 18,307 6.2% $ 1,991,000 $ 4,262 $ 39,012 2.0% $ 1,951,988
Disaster Recovery Fund Expenditures 191,642 2,848 181,012 94.5% 2,039,300 2,115 22,398 1.1% 2,016,903
Revenues Over (Under) Expenditures $ 103,648 141 $ (162,705) $ (48,300) 2,147 $ 16,615
Beginning Fund Balance - Decober 1 7,300 7,300 110,948 110,948
Ending Fund Balance - year-to-date $ 110,948 $ (155,405) $ 62,648 $ 127,563
SPECIAL REVENUE FUNDS PRIOR YEAR FY2023 CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
Capital Replacement Fund (05)
Capital Replacement Fund Revenues $ 352,505 $ (17,207) $ 139,957 39.7% $ 166,850 $ 14,084 $ 78,281 46.9% $ 88,569
Capital Replacement Fund Expenditures 242,160 10,826 66,515 27.5% 97,103 - 18,380 18.9% 78,723
Revenues Over (Under) Expenditures 110,344 (28,032) 73,443 69,747 14,084 59,900
Beginning Fund Balance - Decober 1 (399,257) (399,257) (288,913) (288,913)
Ending Fund Balance - year-to-date $ (288,913) $ (325,814) $ (219,166) $ (229,012)
Court Security Fund (12)
Court Security Fund Revenues $ 5,398 $ (819) $ 1,060 19.6% $ 3,850 $ 839 $ 4,220 109.6% $ (370)
Court Security Fund Expenditures 5,092 - - 0.0% 10,000 - - 0.0% 10,000
Revenues Over (Under) Expenditures 305 (819) 1,060 (6,150) 839 4,220
Beginning Fund Balance - Decober 1 29,358 29,358 29,663 29,663
Ending Fund Balance - year-to-date $ 29,663 $ 30,418 $ 23,513 $ 33,884
Court Technology Fund (16)
Court Technology Fund Revenues $ 5,185 $ 401 $ 1,897 36.6% $ 4,050 $ 665 $ 3,239 80.0% $ 811
Court Technology Fund Expenditures 8,828 - - 0.0% 10,000 - 700 7.0% 9,300
Revenues Over (Under) Expenditures (3,643) 401 1,897 (5,950) 665 2,539
Beginning Fund Balance - Decober 1 17,769 17,769 14,126 14,126
Ending Fund Balance - year-to-date $ 14,126 $ 19,666 $ 8,176 $ 16,665
Street Improvement Fund (17)
Street Improvement Fund Revenues $ 815,474 $ (11,626) $ 405,267 49.7% $ 857,010 $ 86,772 $ 361,410 42.2% $ 495,600
Street Improvement Fund Expenditures 847,876 67,492 359,175 42.4% 1,186,498 94,979.81 421,453 35.5% 765,045
Revenues Over (Under) Expenditures (32,402) (79,119) 46,092 (329,488) (8,208) (60,044) Transfers In 112,248 56,124 56,124 50.0% 191,998 16,000 95,999 50.0% 95,999
Transfers (Out) (151,797) (60,423) (75,899) 50.0% (155,235) (12,936) (77,618) 50.0% (77,618)
Net Change in Fund Balance (71,951) (83,418) 26,317 (292,725) (5,144) (41,662)
Beginning Fund Balance - Decober 1 384,656 384,656 312,705 312,705
Ending Fund Balance - year-to-date $ 312,705 $ 410,973 $ 19,980 $ 271,043
Juvenile Case Manager Fund (18)
Juvenile Case Manager Fund Revenues $ 560 $ 52 $ 259 46.3% $ 490 $ 34 $ 234 47.8% $ 256
Juvenile Case Manager Fund Exp - - - 0.0% 7,000 - - 0.0% 7,000
Revenues Over (Under) Expenditures 560 52 259 (6,510) 34 234
Beginning Fund Balance - Decober 1 8,623 8,623 9,183 9,183
Ending Fund Balance - year-to-date $ 9,183 $ 8,882 $ 2,673 $ 9,417
Park Recovery/Donation Fund (41)
Park Rec/Donation Fund Revenues $ 5,336 $ 51 $ 235 4.4% $ 5,625 $ 104 $ 35,537 631.8% $ (29,912) P
ark Rec/Donation Fund Expenditures 7,604 - 244 3.2% 7,853 - 6,579 83.8% 1,274
Revenues Over (Under) Expenditures (2,268) 51 (9) (2,228) 104 28,958
Beginning Fund Balance - Decober 1 (67) (67) (2,335) (2,335)
Ending Fund Balance - year-to-date $ (2,335) $ (76) $ (4,563) $ 26,623
OTHER FUNDS PRIOR YEAR FY2023 CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
Grant Fund Fund (40)
Grant Fund Revenues N/A $ 675,000 $ - $ 30,318 4.5% $ 644,682
Grant Fund Expenditures N/A 675,000 388,419 411,492 61.0% 263,508
Revenues Over (Under) Expenditures - - - - (388,419) (381,174)
Beginning Fund Balance - Decober 1 - - - -
Ending Fund Balance - year-to-date $ - $ - $ - $ (381,174)
Tree Restoration Fund (83)
Tree Restoration Fund Revenues $ 7,429 $ 3,106 $ 3,647 49.1% $ 6,550 $ 160 $ 1,464 22.3% $ 5,086
Tree Restoration Fund Expenditures - - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 7,429 3,106 3,647 6,550 160 1,464
Beginning Fund Balance - Decober 1 71,535 71,535 78,964 78,964
Ending Fund Balance - year-to-date $ 78,964 $ 75,182 $ 85,514 $ 80,428
Unclaimed Property Fund (85)
Unclaimed Property Fund Revenues $ 18 $ 3 $ 18 100.0% $ 20 $ - $ - 0.0% $ 20
Unclaimed Property Fund Expenditures - - - 0.0% - - - 0.0% -
Revenues Over (Under) Expenditures 18 3 18 20 - -
Transfers (Out) 0 - - 0.0% 0 - - 0.0% 0
Net Change in Fund Balance 18 3 18 20 - -
Beginning Fund Balance - Decober 1 316 316 334 334
Ending Fund Balance - year-to-date $ 334 $ 334 $ 354 $ 334
OTHER FUNDS - continued PRIOR YEAR FY2023 CURRENT YEAR FY2024
CITY OF KENNEDALE MONTHLY FINANCIAL REPORT
Month Ended March 31, 2024
Fund / Description Actual for Year (unaudited) Current Month Year To Date % Received/ Expended YTD Approved Budget Current Month Year To Date % Received/ Expended YTD Remaining Budget
EDC Fund (15)
EDC Fund Revenues $ 1,121,315 $ 76,442 $ 405,437 36.2% $ 1,093,807 $ 129,325 $ 758,284 69.3% $ 335,523
EDC Fund Expenditures Operations Expenditures 555,407 142,724 278,668 50.2% 714,406 41,732 444,233 62.2% 270,173
Debt Service Expenditures 306,463 140,081 176,073 57.5% 309,200 5,160 183,055 59.2% 126,145
Town Shopping Center Expenditures 73,091 7,633 44,090 60.3% 338,461 39,397 93,695 27.7% 244,766
Total EDC Fund Expenditures 934,961 290,438 498,830 53.4% 1,362,067 86,289 720,982 52.9% 641,085
Revenues Over (Under) Expenditures 186,354 (213,996) (93,393) (268,260) 43,036 37,302
Transfers (Out) (56,124) (28,062) (28,062) 50.0% (61,520) (5,127) (30,760) 50.0% (30,760)
Net Change in Fund Balance 130,230 (242,058) (121,455) (329,780) 37,909 6,542
Beginning Fund Balance - Decober 1 2,005,520 2,005,520 2,135,750 2,135,750
Ending Fund Balance - year-to-date $ 2,135,750 $ 1,884,065 $ 1,805,970 $ 2,142,292
Average Daily Annual Expenditures $ 2,715 $ 3,900
Days of Fund Balance 787 694 463 549
EDC Bond Reserve Fund (95)
EDC Bond Reserve Fund Revenues $ 4,350 $ 188 $ 1,145 26.3% $ 2,800 $ 299 $ 2,714 96.9% $ 86
EDC Bond Reserve Fund Expenditures 0 - - 0.0% 0 - - 0.0% 0
Revenues Over (Under) Expenditures 4,350 188 1,145 2,800 299 2,714
Beginning Fund Balance - Decober 1 126,575 126,575 130,925 130,925
Ending Fund Balance - year-to-date $ 130,925 $ 127,720 $ 133,725 $ 133,639