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Information <br /> Memorandum <br /> <br />To: Mayor and City Council <br />From: Lori Stich, Finance Manager <br />Date: October 16, 2023 <br />Subject: September 2023 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 September, actual revenues (excluding property taxes and transfers in) and <br />expenditures should run about 75% 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 86% of budget estimates. September collections were <br />mainly building-related permits and rental licenses. <br /> Charges for services are 96% of estimates with the third quarter school liaison overtime, <br />recreation fees and plan check fees making up most collections in September. <br /> Court fines which lag a month are about 90% of budget estimates including August <br />collections received by the county. <br /> Transfers in consist of ERMU’s 4% August monthly electric revenues. <br /> <br />Expenditures: <br /> Total departmental expenditures are about 70% of budget and most departments are within <br />or below budget estimates. <br /> <br /> <br /> <br />