Information #1 10-17-2022 - Laserfiche WebLink

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Information City E Memorandum TO: Mayor and City Council From: Lori Stich, Assistant Finance Director Date: October 17, 2022 Subject: September 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 September, actual revenues (excluding property taxes and transfers in) and expenditures should run about 75% 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: ■ License & permit collections are about 96% of budget estimates with September collections consisting primarily of building -related permits. ■ Intergovernmental revenues are at the estimated budget amount with September collections consisting of the state reimbursement for police and fire aid. ■ Charges for services are about 100% of estimates with plan check fees and recreation fees making up the majority of collections in September. ■ Court fines which lag a month are about 72% of budget estimates including August collections received by the county. ■ Transfers in consist of ERMU's 4% August electric revenues. Expenditures: ■ Total departmental expenditures are about 70% of budget and most departments are within or below budget estimates. Departmental expenditures include the fourth quarter property/liability insurance premium that was paid in September.