INFORMATION #1 10-15-2012 - Laserfiche WebLink

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INFORMATION - it River MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: October 15, 2012 SUBJECT: September 2012 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 the 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 Revenues: • Excluding transfers in,revenue collections are about 55% of budget. The second- half property taxes will be collected in December. - • License and permit collections exceed budget estimates at 80% as of the end of September. Building permit collections are over 87% of budget. • Intergovernmental revenues collections are at 59% of budget. Police state aid will be received in October. • Charges for services are over 81% of budget estimates. The second half police liaison contract was billed in September. • Other than the transfer in for capital outlay purchases, all other transfers in have been made. Expenditures: • Excluding transfers out,the total departmental expenditures are about 67% of budget estimates and most departments are well within or below budget.