INFORMATION #2 11-15-2010 - Laserfiche WebLink

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INFORMATION 1~T~~" MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: November 15, 2010 SUBJECT: October 2010 Monthly Financial Report This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund and Pinewood Golf and Ice Arena special revenue funds. These funds are the primary concern in analyzing the City's financial health. For the month of October, actual revenues (except for property taxes and state aids) and expenditures should run about 83% of the annual budget. It is natural for some of the items to vary from month to month, such as exceeding budget fox Supplies but being significantly below for Services. This is not considered serious as long as the total expenditure budget amount is not overspent. Significant variances from budget are highlighted below accompanied with a general discussion for the variance. General Fund Revenues: • Excluding transfers in, revenue collections axe about 55% of budget. • License and permit collections are 119% of the budget. Storm damage repairs continue to make up the majority of building permit collections in October, along with the United Health addition. • Intergovernmental revenues include the receipt of police aid. • Charges fox services are over 89% of budget and continue to exceed budget estimates as of the end of October. • Fine collections, which lag a month for court fines, are over 77% of budget. • All revenue transfers in to the general fund have been recorded. Expenditures: • Excluding transfers out, the total departmental expenditures are about 75% and most departments axe well within or below budget.