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- Final procedures <br />- Year-round process <br />Budget vs. Actual General Fund <br /> Bud et Actual Variance. <br />Revenues $177,579,088 $180,889,340 $3,310,252 <br />Ex enditures 173,439,170 168,133,470 5,305,,700 <br />Other financing <br />sources uses (4,139,918) (6,966,549) (2,926,631) <br />Change in fund <br />balance $ 5,789,321 $5,789,321 <br />Tax Collection Percentages <br />2010 - 98.63% <br />2011 - 98.55% <br />Fund Balance <br />- Serves as a measure of the Town's financial resources available. <br />o Assets -liabilities =Fund Balance <br />5 Classifications: <br />- Non-spendable -not in cash form <br />- Restricted -external restrictions (laws, grantors) <br />- Committed -internal constraints at the highest (Board) level - do not expire, <br />required Board action to undo <br />- Assigned -internal constraints, lower level than committed <br />- Unassigned - no external or internal constraints <br />Fund Balance History (General Fund) <br />2010 - $31,442,042 <br />2011 - $37,284,887 <br />Fund Balance <br />Available fund balance as defined by the Local Government Commission (LGC) is calculated as <br />follows: <br />Total Fund Balance <br />Less: Non spendable (not in cash form, not available) <br />Less: Stabilization by State Statute (bv state law, not available) <br />Available Fund Balance <br />This is the calculation utilized as the basis for comparing you to other units and calculating your <br />fund balance percentages. <br />Fund Balance Position -General Fund <br />Total Fund Balance $37,284,640 <br />Non spendable - 128,315 <br />