Lebanon Cash Reserves

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The excessive level of the City of Lebanon cash reserves is one reason to keep Lebanonís city budgets from increasing. 

Below is the City of Lebanon Cash Reserves spreadsheet showing that on December 31, 2014, (1) the General Fund cash reserve was 59 percent of the 2014 General Fund budget, (2) the Other Funds cash reserve was 129 percent of the 2014 Other Funds budget, and (3) the All Funds cash reserve was 87 percent of the 2014 All Funds budget. H. J. Umbaugh and Associates has advised the Boone County Council that 35 percent is a sufficient General Fund cash reserve (because of the delayed timing of property tax receipts and the ongoing need to pay bills), and that 15 percent is a sufficient cash reserve for most other funds.

City of Lebanon Cash Reserves

(Compiled October 8, 2015)

SOURCES:

A. Budget amounts from Lebanon Clerk-Treasurer spreadsheets during 2014 and 2015 budget workshops.

B. 2014 Lebanon Annual Financial Report from https://gateway.ifionline.org/report_builder/ 

NOTES:

1. 2014 and 2015 budget amounts approved by the Indiana Department of Local Government Finance.

2. 12/31/14 Cash % = Cash Reserves percentage compared to 2014 Budget.

3. 15 vs 14 Incr. = the percent increase of the 2015 Budget over the 2014 Budget.

Fund Description

2014 Budget

12/31/14 Cash (%)

2015 Budget

15 vs 14 Incr.

Mayor 001 TOTAL

$132,962

$196,687

48%

Clerk-Treasurer 002 TOTAL

$148,423

$189,710

28%

Council & Board of Works 003 TOTAL

$51,758

$53,833

4%

City Hall 018 TOTAL

$1,351,210

$1,966,805

46%

Planning & Zoning 022 TOTAL

$327,312

$306,217

(6%)

COIT Capital 023 TOTAL

$1,730,054

$1,877,626

9%

Historic Preserv. Comm. 031 TOTAL

$32,459

Active Living 032 TOTAL

Police Department 200 TOTAL

$2,563,431

$2,933,994

14%

Fire Department 210 TOTAL

$1,754,540

$2,054,000

17%

TOTAL GENERAL FUND

$8,059,690

$4,789,852 (59%)

$9,611,331

19%

Fire Pension 803001121 TOTAL

$350,000

$420,245 (120%)

$350,000

0%

Police Pension 804001121 TOTAL

$300,000

$248,852 (83%)

$250,000

(16.67%)

Motor Vehicle Highway 201 TOTAL

$907,171

$888,624 (98%)

$985,244

9%

Local Road and Street 202 TOTAL

$134,000

$177,701 (133%)

$199,000

49%

Parks and Recreation 204 TOTAL

$564,720

$576,248 (102%)

$655,884

16%

Park Pool Debt Service 312 TOTAL

$180,277

$20,675 (11%)

$385,751

114%

Cum. Capital Improvement 401 TOTAL

$63,000

$130,464 (207%)

$63,000

0%

Cum. Capital Development 402 TOTAL

$500,000

$548,558 (110%)

$1,366,477

173%

Sanitation 620 TOTAL

$639,684

$507,170 (79%)

$645,301

1%

Storm Water Debt Service 660 TOTAL

$513,449

$252,215 (49%)

$555,340

8%

Rainy Day / COIT Savings 270 TOTAL

$500,000

$1,585,889 (317%)

$500,000

0%

Food & Beverage 471 TOTAL

$500,000

$1,305,704 (261%)

$500,000

0%

TOTAL OTHER FUNDS

$5,152,301

$6,662,345 (129%)

$6,455,997

25%

GRAND TOTAL ALL FUNDS

$13,211,991

$11,452,197 (87%)

$16,067,328

22%

2014 Budget

12/31/14 Cash (%)

2015 Budget

15 vs 14 Incr.

When cash reserves are excessive, it is Taxpayer Friendly for government units to lower property taxes by cutting budgets and using cash reserves to pay for needed services. In spite of its excessive cash reserves on December 31, 2014, Lebanon still increased its 2015 budget a Taxpayer UNfriendly 22 percent over its 2014 budget.

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This page was last updated on 10/10/15 .