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INFORMATION <br /> City of <br /> El <br /> River <br /> MEMORANDUM <br /> TO: Mayor and City Council <br /> FROM: Tim Simon, Finance Director <br /> DATE: December 17, 2012 <br /> SUBJECT: November 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 November, actual revenues (except for property taxes and state aids) and <br /> expenditures should run slightly under 92% of the annual budget. It is natural for some of <br /> the items to vary from month to month, such as exceeding budget for Supplies but being <br /> significantly below for Services. This is not considered serious as long as the total <br /> expenditure budget amount is not overspent. Significant variances from budget are <br /> highlighted below 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 General Fund property taxes of$4.3 million were collected on December 3. <br /> • License and permit collections slightly exceed budget estimates at 93%. Building <br /> related permit collections match budget projections. <br /> • Intergovernmental revenues collections exceed 96%of budget. The second half <br /> PERA Aid will be received in December. <br /> • Charges for services are slightly under budget estimates at 88%. <br /> • Other than the transfer in for capital outlay purchases,all other transfers in have <br /> been made. <br />