City Council Packet November 3, 2025

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The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity Request for Action To City Council Item Number 13.1 Meeting Date November 3, 2025 Prepared By Lori Stich, Finance Manager Item Description September Financial Reports Reviewed by Lori Stich Joe Stremcha Cal Portner Tina Allard Action Requested Information only. Background/Discussion 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 by a general discussion of the variance. General Fund Revenues: ▪ License & permit collections are 83% of budget estimates. September collections were primarily building-related permits. ▪ Charges for services are about 78% of estimates with plan check fees and recreation fees making up the majority of September collections. ▪ Court fines which lag a month are about 65% of budget including August collections received by the county. ▪ Transfers in consist of ERMU’s 4% August monthly electric revenues. Expenditures: Page 316 of 322