HomeMy WebLinkAboutCommittment on Reserves_11.2019Reserve Balances/Obligations:
Beginning Reserves at July 1, 2019 $403,167
Operating Surplus Budgeted (@ 6/30/20)23,000 *
Commitments on Reserves
Less Emergency Repair Grant Local Match (Engine Replaced on 611)(2,280)
Less Transit Consultant Local Match (45,752)
Less 26 Passenger Transit Bus Local Match @ 20% (awarded 2017)(80,000)
Less 26 Passenger Transit Bus Local Match @ 20% (awarded 2018)(80,000)
Less two 26 Passenger Transit Bus Local Match @ 20% (awarded 2019)(160,000)
Reserves @ June 30, 2020 $58,135
Note: Transit Buses Local Match at 14% means a savings of $96,000
*Goal Amount Added to Reserve Balance Annually $50,000
(subject to change)
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Commitments on Reserves