INFORMATION 10-17-2011 - Laserfiche WebLink

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I1~IFt~RMATION Ver MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: October 17, 2011 SUBJECT: September 2011 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 September, actual revenues (except for property taxes and state aids) and expenditures should run 75% of the annual budget. It is natural for some of the items to vary from month to month, such as exceeding budget for Supplies but being significantly below fox 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 are 69% of budget. Tax revenues are at 51% with the second half property taxes due in December. • Licenses and permits are at 145% of budget due mainly to increased building permit revenues. • The intergovernmental revenue police aid was received in September. • Charges for services axe slightly over the budget benchmark at 82%. • Fines and forfeits are at 70% of budget as court fine collections are through August. • All revenue transfers in have been recorded. Eacpenditures: • Excluding transfers out, the total departmental expenditures are about 69% of budget estimates and most departments are well within or below budget.