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INFORMATION <br />City of <br />EI. <br />~'°`.. <br />ever <br />MEMORANDUM <br />T y~r n icy ~unc~~ <br />F Tim Srm®n, Fence i~c®~ <br />T ; everner l , 2009 <br />SU JcT: c~®e~ 20x9 ®nly Finnc~~ a®r~ <br />This report is designed to provide summa~.y information regarding the overall level of <br />revenues and expenditures In the General Fund and the Ice Arena and Pinewood Golf <br />special revenue funds. These funds are the primary concern in analyzing the City's financial <br />health, <br />For the month of Gctober•, actual revenues except for property taxes and state aids} and <br />expenditures should run about S3% of the annual budget. It is natural for some of the items <br />to vary from. month to month, such as exceeding budget for Supplies but being significantly <br />below for Ser-vices, This is not considered serious as long as the total expencliture budget <br />amount is not overspent, Significant variances from budget are highlighted below <br />accompanied with a general discussion for the variance. <br />Gerlera~ Fund <br />Re~~enues: <br />~ Excluding transfers in, total revenue collections are about 52% of budget. <br />The second half property taxes will be collected in December. <br />Intergovernmental revenues of MV credit and police aid were collected in October, <br />The second half LGA and MV credit payments will be collected in December. <br />® Licenses/permits and charges for services are slightly below the S3% budget <br />benchmarl~ due mainly to budding-related permits and services. <br />® Interest income is lower than budget due to reversal of the prior year's interest <br />receivable and marl~et conditions, <br />~ All revenue transfers in have been recorded, <br />