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Information <br /> City of <br /> EIL')(l -�-� <br /> i� l. <br /> River Memorandum <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: April 15, 2019 <br /> Subject: March 2019 Monthly Financial Report <br /> This report is designed to provide summary information regarding the overall level of revenues and <br /> expenditures in the General Fund,the Ice Arena Special Revenue Fund, and the Enterprise Funds. <br /> These funds provide an important picture of the city's financial health. <br /> For the month of March, actual revenues (excluding property taxes and transfers in) and <br /> expenditures should run about 25% 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 Services. <br /> This is not considered serious as long as the total expenditure budget amount is not overspent. <br /> Significant variances from budget are highlighted below accompanied with a general discussion for <br /> 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 10% of budget estimates with building permits experiencing a <br /> slump due to winter weather. <br /> ■ Charges for services are 31% of budget estimates which includes the semi-annual billings for <br /> the school liaison and fire services contracts. <br /> ■ Fines and forfeits which lag a month for collections are running 15% of budget. <br />