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City o Memorandum <br /> E <br /> River <br /> TO: Mayor and City Council <br /> From: Tim Simon, Finance Director <br /> Date: September 16, 2013 <br /> Subject: August 2013 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 Ice Arena and Pinewood Golf Special <br /> Revenue Funds. These funds provide an important picture of the city's financial health. <br /> For the month of August, actual revenues (except for property taxes and state aids) and <br /> expenditures should run about 67% 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,revenue collections are about 51.6% of budget estimates. The <br /> second half property taxes will be received in December. <br /> • Licenses and permit collections are 64.5% of budget estimates and building permit <br /> collections are about 75% of budget. <br /> • Intergovernmental revenue collections for August include reimbursement for police <br /> training and the quarterly crime prevention grant. <br /> • Charges for services are 68% of budget estimates and about 60% of budgeted <br /> recreation fees have been collected. <br /> Expenditures: <br /> • Excluding transfers,total departmental expenditures are about 61% of budget and <br /> almost all departments are within or below budget. <br /> • The Transfers Out to Pinewood Golf will be made at the end of the year. <br /> P0WIeEa 0 <br /> N:\Public Bodies\Agenda Packets\09-16-2013\13one\xinfo sr Aug Fin Reportdocx INAfURE1 <br />