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<br />Information <br /> <br /> <br /> <br />Memorandum <br /> <br /> <br /> <br /> <br /> <br />To: Mayor and City Council <br /> <br />From: Tim Simon, Finance Director <br /> <br />Date: December 21, 2015 <br /> <br />Subject: November 2015 Monthly Financial Report <br />_______________________________________________________________________ <br /> <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 /> <br />For the month of November, actual revenues (except for property taxes and state aids) and <br />expenditures should run about 92% 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 /> <br />GENERAL FUND <br /> Revenues: <br /> Excluding transfers in, revenue collections are 62% of budget, with the second half <br />property taxes to be collected in December. <br /> Licenses and permits collections exceed budget estimates at 103%, with November <br />collections consisting mainly of building related permits. <br /> Intergovernmental revenue collections are about 97% of budget estimates and charges <br />for services are at 92% of budget. <br /> Fine collections, which lag a month, are exceeding the budget at 107%. <br /> <br />Expenditures: <br /> Total departmental expenditures are 84% of budget and most departments are within <br />or below budget. <br /> <br /> <br /> <br /> <br />