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CITY OF HUGO, MINNESOTA <br />TAX INCREMENT FINANCING COLLECTION 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 />Final Budget <br />Budgeted Amounts Favorable <br />Original Final Actual (Unfavorable) <br />REVENUES <br />Property taxes $ 80,416 $ 80,416 $ 80,416 $ <br />Other revenues <br />Investment earnings 1,281 1,281 <br />Net (decrease) in the fair value <br />of investments (444) (444) <br />Total Revenues 80,416 80,416 81,253 837 <br />EXPENDITURES <br />Capital outlay <br />79,779 <br />79,779 <br />64,535 15,244 <br />Net Change in Fund Balances <br />637 <br />637 <br />16,718 16,081 <br />Fund Balance, January 1 <br />379,181 <br />379,181 <br />379,181 <br />Fund Balance, December 31 $ 379,818 $ 379,818 $ 395,899 $ 16,081 <br />ILI <br />