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<br />City of <br />El -._-~ <br />River <br />MEMORANDUM <br />~®r and icy ~unc~l <br />e <br />° °~rr~ ~~n, Finance ~r~c~r <br />° ruary ~ by <br />. <br />o January ~ ®nhly inanciai ~p~rt <br />This report is designed to provide summary information regarding the overall level of <br />revenues and expenditures in the General Fund and Pinewood Golf and Ice Arena Special <br />Revenue Funds. These funds are the primary concern i.n analyzing the City's financial <br />health, <br />For the month of January, actual :revenuesexcept fox property taxes and state aids} and <br />expenditures should tun slightly over S% of the annual budget, It is natural for some of the <br />items to vary from month to month, such as exceeding budget for Supplies but being <br />significantly below fox Services. This is not considered serious as long as the total <br />expenditure budget amount is not overspent. Significant variances from budget are <br />highlighted below accompanied with a general discussion for the variance. <br />GeneraX Fund. <br />revenues: <br />~ Property taxes, our largest revenue source, will be received in July and December. <br />~ Much of the revenue collections in licenses & permits are related to solid waste and <br />apartment annual license renewals, <br />Charges for services revenue includes the semiannual billing for school liaison <br />services for January through June, <br />® The negative interest income is related to the reversal of the prior year's interest <br />receivable which was done this month, <br />® The transfers in will be recorded midWyear. <br />expenditures: <br />~ Excluding transfers, the total departmental expenditures are at about 5°/o and most <br />departments are well within or below budget. <br />