Kennedale Monthly Financial Reports

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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