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Information <br />City <br />E <br />To: Ma�Tor and CinT Council <br />From: Lori Stich, Finance Manager <br />Date: June 20, 2023 <br />SubjeCt: Ma�T 2023 Monthl�T Financial Report <br />Memorandum <br />This report is designed to provide summaryT information regarding the overall level of revenues and expenditures <br />in the GeneYal Fund, the Multipurpose Facilit�r Special Revenue Fund, and the Enterprise Funds. These funds <br />provide an important picture of the cittT's financial health. <br />FoY the month of May, actual revenues (excluding pYopeYt�r taxes and transfers in) and expendituYes should run <br />about 42% of the annual budget. It is natural for some of the items to vary from month to month, such as <br />exceeding the budget for Supplies but being belo`v budget for Services. This is not considered serious as long as <br />the total expenditure budget amount is not overspent Significant variances from the budget are highlighted <br />below accompanied byT a general discussion of the variance. <br />GENERAL FUND <br />Revenues: <br />■ PropertyT taxes, our largest revenue source, are received in JulyT and December. <br />■ License & permit collections aYe about 52% of budget estimates consisting primarilyr of building-Yelated <br />permits, liquoY licenses and Yental licenses. <br />■ Charges for services are 52% of estimates with recreation fees and plan check fees making up the <br />majority of collections in MayT. <br />■ TYansfeYs in consist of ERMU's 4% April monthly electric revenues. The Yemaining transfeYs in �uill be <br />recorded mid-�Tear. <br />Expenditures: <br />■ Total departmental expenditures are about 36% of budget and most departments are within or below <br />budget estimates. <br />