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• <br /> • <br /> Financial Analysis of the Town's Funds <br /> The Town of Monument uses fund accounting to ensure and demonstrate compliance <br /> • with finance-related legal requirements. <br /> Significant balances and transactions for General Fund revenue include sales tax related <br /> • to the development at Monument Marketplace, increased development and increased <br /> • Development Services fees and increased franchise fees. In 2008, to be in compliance <br /> • with GASB 34, the Town began to report infrastructure as an asset for a net Asset <br /> • increase of$6,230,145 that was not reported in previous years. <br /> Significant balances and transactions for General Fund — Public Works Department <br /> expenditures include asphalt repairs in Historic Monument in the amount of $63,020. <br /> The Town also spent $144,691 to continue the work on the Third Street Project. The <br /> • town expended $1,269,263 for expenses related to the construction of the Government <br /> Facilities Building, which will be complete in April of 2009. The Town had a new band <br /> • shell built at a discounted cost of $88,925 for our Concerts in the Park, in conjunction <br /> with donations from the Public and HMMA. The Town continued to work on establishing <br /> a "quiet zone" for the railroad at a cost of$6,323, as well as purchasing a new server for <br /> • $8,592. Law Enforcement spent $2,110 to connect the Police cars to El Paso County <br /> • Dispatch through the MDC system. <br /> • The Water Department spent $213,191 for work on the New Water Treatment Plant, Well <br /> • #9 and other Capital Improvement Projects. <br /> • <br /> The Town Manager, in conjunction with the Department Heads, continued to bring the <br /> Town's salary ranges up to competitive rates, for non-exempt employees, for related size <br /> towns and job descriptions. <br /> • <br /> Water Fund revenue was less than Budget by $237,662 due to decreased customer usage, <br /> 41 sales tax and investment income. Of the revenues, $192,984 represents Triview <br /> Metropolitan District Water IGA revenue. Tap fee revenue was less than Budget by <br /> • $108,068 because the Town is approaching build-out of residential properties that are the <br /> • Town's responsibility. <br /> • <br /> Water Fund actual budgetary expenditures were approximately $552,453 below budget in <br /> 2008 due to water system capital improvements being forwarded to 2009. <br /> • <br /> I <br /> S <br /> • <br /> S <br /> S <br /> vii <br /> • <br /> • <br /> S <br />