Laserfiche WebLink
Information <br /> J� <br /> City of <br /> Elk Memorandum <br /> River <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: November 19, 2018 <br /> Subject: October 2018 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 Special <br /> Revenue Funds, and the Enterprise Funds. These funds provide an important picture of the <br /> city's financial health. <br /> For the month of October, actual revenues (excluding property taxes and transfers in) and <br /> expenditures should run 83% 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 below budget 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, overall general fund revenues are 59% of budget with the <br /> second half property taxes to be collected in December. <br /> ■ Licenses and permits collections are in line with budget estimates at 81%. <br /> ■ Charges for services are 93% of budget and are comprised mainly of plan review fees <br /> and the annual police/fire service contracts. <br /> ■ Fines and forfeits collections are 71% of budget estimates,with court fine collections <br /> lagging a month. <br /> Expenditures: <br /> ■ Total departmental expenditures are 76% of budget and most departments are below <br /> budget estimates. <br /> NAWREJ <br />