INFORMATION #1 10-17-2016 - Laserfiche WebLink

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Information Memorandum To: Mayor and City Council From: Lori Ziemer, Finance Director Date: October 17, 2016 Subject: September 2016 Monthly Financial Report _______________________________________________________________________ This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund, Ice Arena Special Revenue Fund, and Enterprise 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 in, revenue collections are about 57% of budget, with the second half property taxes to be collected in December.  Licenses and permits collections are 78% of budget estimates, with September collections consisting mainly of building related permits which are about 72% of budget.  Intergovernmental revenue collections consist of the police state aid payment.  Charges for services are in line with budget estimates at 76% of budget.  Fines and forfeits collections, which lag a month, are 86% of budget estimates. Expenditures:  Total departmental expenditures are about 69% of budget and most departments are within or below budget. th  Expenditures for September include the 4 quarter liability insurance premium.