Laserfiche WebLink
Information <br /> �i <br /> of Memorandum Memorandum <br /> cElk <br /> River <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: December 18, 2017 <br /> Subject: November 2017 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, the Ice Arena, and Pinewood Golf Course <br /> Special Revenue Funds, and the Enterprise Funds. These funds provide an important picture <br /> of the city's financial health. <br /> For the month of November, actual revenues (except for property taxes) and expenditures <br /> should run about 92% of the annual budget. It is natural for some of the items to vary from <br /> month to month, such as exceeding budget for Supplies but being below budget for Services. <br /> 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 63% of budget. The second-half <br /> property tax settlement will be received in December. <br /> ■ Licenses and permits collections exceed annual budget estimates by$271,664 as of the <br /> end of November. Building-related permit collections are at 146% of budget. <br /> ■ Intergovernmental revenue collections are at$105% of budget with the 4"'quarter <br /> crime prevention grant yet to be received for 2017. <br /> ■ Charges for services are 111% of budget estimates,with plan review fees and the <br /> Otsego fire contract making up the majority share. <br /> ■ Although fines and forfeits collections lag a month,reported collections through <br /> October are about 101% of budget estimates. <br /> p 0 W I H L 0 N' AfURE] <br />