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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: Lori Ziemer, Finance Director <br /> Date: December 16, 2019 <br /> Subject: November 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 November, actual revenues (excluding property taxes and transfers in) and <br /> expenditures should run about 92% 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 /> • Overall, revenues are about 63% of budget with second-half property taxes expected early <br /> December. Tax collections in November include the third quarter gravel tax receipt. <br /> • Licenses and permits are running comparable to budget estimate at about 91%. <br /> ■ Charges for services collections through the end of November are about 93% of budget. <br /> ■ Fines and forfeits,which lag a month for collections,are running about 75% of budget. <br /> ■ Transfers in for November are comprised of ERMU's 4% electric revenues through <br /> October. <br />