INFORMATION #1 10-21-2013 - Laserfiche WebLink

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} INFORMATION City of Memorandum Elk RiV6wr TO: Mayor and City Council From: Tim Simon, Finance Director Date: October 21, 2013 Subject: September 2013 Monthly Financial Report This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund and Ice Arena and Pinewood Golf Special Revenue Funds. These funds provide an important picture of 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 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,revenue collections are about 53% of budget estimates. The second half property taxes will be received in December. • Licenses and permit collections are within budget estimates consisting mainly of building permits totaling over$42,500 collected in September. ■ Intergovernmental revenue collections for police aid will be received in October.. ■ Charges for services are over 85% of budget estimates with plan check fees, school liaison, and engineering services reimbursement accounting for the majority of September collections. ■ Fines and forfeits are in line with budget estimates as court fine collections lag a month. Expenditures: • Excluding transfers,total departmental expenditures are about 71% of budget and almost all departments are within or below budget. • The liability/property insurance renewal was finalized in September and payment was made for July through December. P0WIeEa 0 N:\Public Bodies\Agenda Packets\10-21-2013\Final\xInfoim1 sr Sept fm ieport.docx INAfURE1