Information 05-16-2022 - Laserfiche WebLink

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Information City E Memorandum TO: Mayor and City Council From: Lori Stich, Assistant Finance Director Date: May 16, 2022 Subject: April 2022 Monthly Financial Report This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund, the Multipurpose Facility Special Revenue Fund, and the Enterprise Funds. These funds provide an important picture of the city's financial health. For the month of April, actual revenues (excluding property taxes and transfers in) and expenditures should run 33% of the annual budget. It is natural for some of the items to vary from month to month, such as exceeding budget for Supplies but being below budget for Services. This is not considered serious as long as the total expenditure budget amount is not overspent. Significant variances from budget are highlighted below accompanied with a general discussion for the variance. GENERAL FUND Revenues: ■ Property taxes, our largest revenue source, are received in July and December. ■ License & permit collections are 41% of budget estimates consisting primarily of building - related permits. ■ Charges for services are about 51% of estimates with plan check fees, police security services and recreation fees making up the majority of collections in April. ■ Court fines, which lag a month, consist of March collections received by the county are slightly over 31% of budget estimate. ■ Transfers in consists of ERMU's 4% March electric revenues, the remaining transfers in from other funds will be recorded mid -year. Expenditures: ■ Total departmental expenditures are about 29% of budget and most departments are within or below budget estimates.