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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: March 18, 2019 <br /> Subject: February 2019 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 Special Revenue Fund, and the <br /> Enterprise Funds. These funds provide an important picture of the city's financial health. <br /> For the month of February, actual revenues (excluding property taxes and transfers in) and <br /> expenditures should run about 17% 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 below budget <br /> for Services. This is not considered serious as long as the total expenditure budget amount is <br /> not 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 about 3% of budget. <br /> ■ Licenses and permits are 6% of budget estimates with building permits experiencing a <br /> slump due to winter weather. <br /> ■ Charges for services are 38% of budget estimates which includes billings for the <br /> school liaison and fire services contracts. <br /> Evenditures. <br /> ■ Total departmental expenditures are 12% of budget and most departments are within <br /> or below budget estimates. <br /> ■ The Snow Removal budget reflects the seasonal expenditures for personal services and <br /> road salt. <br /> p0WIeI1 0 <br /> NAWREJ <br />