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Information <br />cty of I <br />Elk -�-�=1 <br />River <br />To: Ma�Tor and CinT Council <br />From: Lori Stich, Assistant Finance Director <br />Date: SeptembeY 19, 2022 <br />SubjeCt: August 2022 MonthlyT Financial Report <br />Memorandum <br />This report is designed to provide summaryT 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 cit�-'s financial health. <br />For the month of August, actual revenues (excluding propert�T taxes and transfers in) and <br />expenditures should run about 67% of the annual budget. It is natural for some of the items to var�T <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 oveYspent. <br />Significant variances from budget are highlighted below accompanied `vith a general discussion for <br />the variance. <br />GENERAL FUND <br />Revenues: <br />■ License & permit collections are about 88% of budget estimates with August collections <br />consisting primarily of building-related permits. <br />■ IntergoveYnmental Yevenues for August consist of the state reimbursement foY police <br />training and second quarter traffic enforcement grant. <br />■ ChaYges for services aYe about 97% of estimates with plan check fees and Yecreation fees <br />making up the majorinr of collections in August. <br />■ Court fines `vhich lag a month are about 62% of budget estimates including JulyT collections <br />received by the countyT. <br />■ Transfers in consist of ERMU's 4% JulyT electric revenues and the budgeted transfer from <br />HRA into the General Fund. <br />Expenditures: <br />■ Total departmental expenditures aYe about 59% of budget and most departments are within <br />oY below budget estimates. <br />