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INFORMATION City o Memorandum E River TO: Mayor and City Council From: Tim Simon, Finance Director Date: December 16, 2013 Subject: November 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 about 92% 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 57% of budget estimates. The second half property taxes were received December 2. • License and permit collections are about 87% of budget with building permit collections exceeding budget estimates. • Intergovernmental revenue collections are 99% of budget,with the second half PERA Aid to be collected in December. • Charges for services are 95% and exceed the budget estimate for the end of November. • Fines and forfeits are in line with budget estimates as court fine collections lag a month. • Other than the transfer in for capital outlay purchases, all other transfers in have been made. Expenditures: • Excluding transfers,total departmental expenditures are about 85% of budget and almost all departments are within or below budget with one month left of the year. • The Transfers Out to Pinewood Golf will be made at the end of the year. P 0 W I R I 1 0 N:\Public Bodies\Agenda Packets\12-16-2013\Final\xInfo sr-Nov Fin Report.docx INAf-- URE]