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Information <br /> J� <br /> City of <br /> Elk Memorandum <br /> River <br /> TO: Mayor and City Council <br /> From: Tim Simon, Finance Director <br /> Date: October 19, 2015 <br /> Subject: September 2015 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, Ice Arena Special Revenue Fund, and <br /> Enterprise Funds. These funds provide an important picture of the city's financial health. <br /> For the month of September,actual revenues (except for property taxes and state aids) and <br /> expenditures should run 75% of the annual budget. It is natural for some of the items to vary <br /> from month to month, such as exceeding budget for Supplies but being significantly below for <br /> Services. This is not considered serious as long as the total expenditure budget amount is not <br /> overspent. Significant variances from budget are highlighted below accompanied with a <br /> general discussion for the variance. <br /> GENERAL FUND <br /> Revenues: <br /> ■ Excluding transfers in,revenue collections are 56% of budget,with the second half <br /> property taxes to be collected in December. <br /> ■ Licenses and permits collections are about 89% of budget estimates,with September <br /> collections consisting mainly of building related permits which are about 84% of <br /> budget. <br /> ■ Charges for services are over 88% of budget estimates. <br /> ■ Fine collections,which lag a month, are about 82% of budget. <br /> Expenditures: <br /> ■ Total departmental expenditures are about 69% of budget and most departments are <br /> within or below budget. <br /> p0WIeI1 0 <br /> NAWREJ <br />