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Information <br /> Memorandum <br /> <br />To: Mayor and City Council <br />From: Lori Ziemer, Finance Director <br />Date: November 16, 2020 <br />Subject: October 2020 Monthly Financial Report <br /> <br />This report is designed to provide summary information regarding the overall level of revenues and <br />expenditures in the General Fund, the Multipurpose Facility Special Revenue Fund, and the <br />Enterprise Funds. These funds provide an important picture of the city’s financial health. <br /> <br />For the month of October, actual revenues (excluding property taxes and transfers in) and <br />expenditures should run about 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 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 /> <br />GENERAL FUND <br /> <br /> Revenues: <br /> License & permit collections are about 74% of budget estimate. October collections consist <br />mainly of building-related permits. <br /> Intergovernmental revenues consist of fire and police state aid and the third quarter crime <br />prevention grant reimbursement. <br /> Charges for services are at about 78% of budget with October collections consisting mainly <br />of planning related fees. <br /> Fines and forfeits, which lag a month for collections, are running 49% of budget. <br /> Transfers in are comprised of ERMU’s 4% September electric revenues. <br /> <br />Expenditures: <br /> Total departmental expenditures are about 75% of budget and most departments are within <br />or below budget estimates. <br />