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INFORMATION <br />ver <br />MEMORANDUM <br />TO: Mayor and City Council <br />FROM: Tim Simon, Finance Director <br />DATE: December 20, 2010 <br />SUBJECT: November 2010 Monthly Financial Report <br />This report is designed to provide summary information regarding the overall level of <br />revenues and expenditures in the General Fund and Pinewood Golf and Ice Arena special <br />revenue funds. These funds axe the primary concern in analyzing the Ciry's fmancial health. <br />Fox the month of November, actual revenues (except fox pxopexry taxes and state aids) and <br />expenditures should run about 92% of the annual budget. It is natural fox some of the items <br />to vary from month to month, such as exceeding budget fox Supplies but being significantly <br />below fox Services. This is not considered serious as long as the total expenditure budget <br />amount is not overspent. Significant variances from budget axe highlighted below <br />accompanied with a general discussion fox the variance. <br />General Fund <br />Revenuer: <br />• Excluding transfers in, revenue collections axe about 56% of budget. <br />• The second half pxopexry taxes will be received early December and will add about <br />$4.5 million in revenue to the General Fund. <br />• License and permit collections axe 129% of the budget. Storm damage repairs <br />continue to make up a good share of the building permit collections fox November, <br />along with The Depot permits. <br />• Charges fox services axe about 92% of budget and axe in line with budget estimates <br />as of the end of November. <br />• Fine collections, which lag a month fox court fines, axe over 83% of budget. <br />• All revenue tsansfexs in to the general fund have been recorded. <br />