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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br />Request for Action <br /> <br />To <br />City Council <br />Item Number <br />13.2 <br /> <br />Meeting Date <br />November 17, 2025 <br />Prepared By <br />Lori Stich, Finance Manager <br /> <br />Item Description <br />October Financial Reports <br />Reviewed by <br />Lori Stich <br />Joe Stremcha <br />Cal Portner <br />Tina Allard <br /> <br />Action Requested <br />Information only. <br /> <br /> <br />Background/Discussion <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 Enterprise Funds. <br />These funds provide an important picture of the city’s financial health. <br /> <br />For October, actual revenues (excluding property taxes and transfers) and expenditures should run about <br />83% of the annual budget. It is natural for some of the items to vary from month to month, such as exceeding <br />budget for Supplies but being below budget for Services. This is not considered serious as long as the total <br />expenditure budget amount is not overspent. Significant variances from budget are highlighted below, <br />accompanied by a general discussion of the variance. <br /> <br />General Fund <br />Revenues: <br />▪ License & permit collections are about 86% of budget estimates. October collections were primarily <br />building-related permits. <br />▪ Charges for services are about 81% of estimates, with plan check fees and recreation fees making up <br />the majority of October collections. <br />▪ Court fines, which lag a month, are about 73% of budget, including September collections received by <br />the county. <br />▪ Transfers in consist of ERMU’s 4% September monthly electric revenues. <br /> <br />Expenditures: <br />Page 373 of 379