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Castle Pines North Finances Strong

This information has been provided by the City of Castle Pines North.

The City of Castle Pines North financial position continues to remain strong thru the first seven months of the year. The latest fiscal updates include:

Actual Compared to Budget – The City is in a favorable position to budget both at the revenue and net funds level. Total revenues YTD thru July are $2,211,916, exceeding budget by $393,715 or 21.7%. Revenues over expenditures (equivalent to net profit) YTD thru July are $363,149, exceeding budget by $584,946 or by 263.7%.

Prior Year – The City’s finances are favorable in comparison to the prior year. Revenues for 2010 thru July YTD exceeded 2009 revenue by $506,974. Expenditures thru July 2010 were below 2009 expenditures by $92,332, demonstrating cost savings against the prior year.

Cash – The cash balance as of 7/31/10 is $2,245,605, unrestricted cash totals $2,051,070. The cash balance on 1/1/10 was $2,218,541; cash has increased by $27,064 from the beginning of the year.



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