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CITY OF HUGO, MINNESOTA
<br />SPECIAL PARK FUND
<br />Schedule of Revenues, Expenditures
<br />and Changes in Fund Balance - Budget and Actual
<br />For the Year Ended December 31, 2016
<br />Variance with
<br />Total Expenditures
<br />Budgeted Amounts
<br />Original Final
<br />Actual
<br />Final Budget
<br />Favorable
<br />(Unfavorable)
<br />REVENUES
<br />Net Change in Fund Balances
<br />16,302
<br />16,302
<br />128,003
<br />Property taxes
<br />$ 99,378
<br />$ 99,378
<br />$ 99,906
<br />$ 528
<br />Intergovernmental revenues
<br />235
<br />235
<br />Other revenues
<br />Investment earnings
<br />3,252
<br />3,252
<br />Net (decrease) in the fair value
<br />of investments
<br />(1,127)
<br />(1,127)
<br />Rent
<br />8,950
<br />8,950
<br />8,950
<br />Contributions
<br />20,000
<br />20,000
<br />Developer fees
<br />100,800
<br />100,800
<br />Total Revenues
<br />108,328
<br />108,328
<br />232,016
<br />123,688
<br />EXPENDITURES
<br />Capital Outlay
<br />McCollar Park
<br />70,000
<br />70,000
<br />84,157
<br />(14,157)
<br />Lions Park
<br />17,000
<br />17,000
<br />15,968
<br />1,032
<br />Bernin property
<br />5,026
<br />5,026
<br />3,888
<br />1,138
<br />Total Expenditures
<br />92,026
<br />92,026
<br />104,013
<br />(11,987)
<br />Net Change in Fund Balances
<br />16,302
<br />16,302
<br />128,003
<br />111,701
<br />Fund Balance, January 1 882,275 882,275 882,275
<br />Fund Balance, December 31 $ 898,577 $ 898,577 $1,010,278 $ 111,701
<br />1150
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