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Information <br /> <br /> <br /> <br />Memorandum <br /> <br /> <br /> <br /> <br /> <br />To: Mayor and City Council <br /> <br />From: Lori Ziemer, Finance Director <br /> <br />Date: November 21, 2016 <br /> <br />Subject: October 2016 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 October, actual revenues (except for property taxes and state aids) and <br />expenditures should run about 83% 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 about 58% of budget, with the second <br />half property taxes to be collected in December. <br /> Licenses and permits collections are 85% of budget estimates, with building-related <br />permit collections slightly below estimates at 79% of budget as of the end of October. <br />rd <br /> Intergovernmental revenue collections consist of the MV credit and the 3 quarter <br />state crime prevention grant. <br /> Charges for services are 80% of budget, which is slightly below budget estimates. <br /> Fines and forfeits collections, which lag a month, are 97% of budget estimates. <br /> <br />Expenditures: <br /> Total departmental expenditures are 76% of budget and most departments are within <br />or below budget. <br /> <br /> <br /> <br />