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INFORMATION <br /> of <br /> El -�.. <br /> Riv ? <br /> MEMORANDUM <br /> TO: Mayor and City Council <br /> FROM: Tim Simon, Finance Director <br /> DATE: November 19, 2012 <br /> SUBJECT: October 2012 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 are the primary concern in analyzing the City's financial health. <br /> For the month of October,actual revenues (except for property taxes and state aids) and <br /> expenditures should run about 83% of the annual budget. It is natural for some of the items <br /> to vary from month to month, such as exceeding budget for Supplies but being significantly <br /> below for Services. This is not considered serious as long as the total expenditure budget <br /> amount is not overspent. Significant variances from budget are highlighted below <br /> accompanied with a general discussion for the variance. <br /> General Fund <br /> Revenues: <br /> • Excluding transfers in,revenue collections are about 58%of budget. The second- <br /> half property taxes will be collected in December. <br /> • License and permit collections slightly exceed budget estimates at about 87%as of <br /> the end of October. Building permit collections are 99% of budget while <br /> plumbing/heating permits are at 54% of budget. <br /> • Intergovernmental revenues collections are at 95%of budget. Police state aid of <br /> $194,176 was received in October. <br /> • Charges for services are in line with budget estimates at 84%. <br /> • Other than the transfer in for capital outlay purchases, all other transfers in have <br /> been made. <br />