INFORMATION 09-20-2010 - Laserfiche WebLink

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q ~, ~~ of .ver MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: September 20, 2010 SUBJECT: August 2010 Monthly Financial Report This report is designed to provide sununary information regarding the overall level of revenues and expenditures in the General Fund and Pinewood Golf and Ice Arena special revenue funds. These funds are the primary concern in analyzing the City's financial health. For the month of August, actual revenues (except for property taxes and state aids) and expenditures should run about 66.7% 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 significantly below for Services. This is not considered serious as long as the total expenditure budget amount is not overspent. Significant variances from budget axe highlighted below accompanied with a general discussion for the variance. General Fund Kevenue.r: • Excluding transfers in, revenue collections are slightly over 51% of budget. • Licenses and permits axe about 79% of the budget benchmark. Building permit revenue is in line with budget projections due to permit collections for storm damage repairs. • Charges for services are 78% of budget and continue to exceed budget estimates as of the end of August. Recreation fee collections are close to 100% due to registrations of fall recreation programs received in August. • Fine collections are slightly below budget at 63% due to a one month lag in the collection of court fines. • All revenue transfers in to the general fund have been recorded. E.x~ienditurer: • Excluding transfers out, the total departmental expenditures are 58.5% and most departments are well within or below budget.