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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, Finance Manager <br />Date: December 18, 2023 <br />SubjeCt: November 2023 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 November, actual revenues (excluding propert�T taxes and transfers in) and <br />expenditures should run about 92% 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 95% of budget estimates. November collections were <br />mainlyT building-related permits. <br />■ ChaYges foY services are at 102% of estimates with Yecreation fees and plan check fees <br />making up the majorinT of collections in November. <br />■ Court fines which lag a month aYe at 112% of budget estimates including OctobeY <br />collections received by the countyT. <br />■ Transfers in consist of ERMU's 4% October monthly electric revenues and ARPA funds. <br />Expenditures: <br />■ Total departmental expenditures are about 86% of budget and most departments are within <br />or below budget estimates. <br />