INFORMATION 12-19-2011 - Laserfiche WebLink

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iNFORM~-TIt~N of fiver MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: December 19, 2011 SUBJECT: November 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 November, actual revenues (except fox property taxes and state aids) and expenditures should run about 91.7% 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 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 l~evenue.r: • Excluding transfers in, revenue collections are slightly over 58% of budget. The second half property tax payment was received on December 2. • License & permit collections exceed budget projections by over $164,400 due mainly to building related permits. • Intergovernmental revenue collections are 100% of budget. • Charges fox services are slightly over 86% of the budget benchmark. • Fines and forfeits are 83% of budget; however, court fine collections lag a month. • All revenue transfers in have been recorded. E.xpenditure.r: • Excluding transfers out, the total departmental expenditures axe about 84% of budget estimates and most departments are well within or below budget.