Laserfiche WebLink
Information <br /> J� <br /> City of <br /> Elk Memorandum <br /> River <br /> TO: Mayor and City Council <br /> From: Tim Simon, Finance Director <br /> Date: November 16, 2015 <br /> Subject: October 2015 Monthly Financial Report <br /> This report is designed to provide summary information regarding the overall level of <br /> revenues and expenditures in the General Fund, Ice Arena Special Revenue Fund, and <br /> Enterprise Funds. These funds provide an important picture of the city's financial health. <br /> For the month of September,actual revenues (except for property taxes and state aids) and <br /> expenditures should run about 83% 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 Services. This is not considered serious as long as the total expenditure budget <br /> amount is not overspent. Significant variances from budget are highlighted below <br /> accompanied with a general discussion for the variance. <br /> General Fund <br /> Revenues: <br /> ■ Excluding transfers in,revenue collections are 59% of budget,with the second half <br /> property taxes to be collected in December. The third quarter gravel tax was received <br /> from the county in October <br /> ■ Licenses and permits collections are about 96% of budget estimates,with October <br /> collections consisting mainly of building related permits which are about 94% of <br /> budget. <br /> ■ Intergovernmental revenue collections are about 96% of budget estimate due to the <br /> receipt for police aid of$243,921 from the state in October. <br /> ■ Charges for services are 90% of budget estimates. <br /> ■ Fine collections,which lag a month, are about 96% of budget. <br /> Expenditures: <br /> ■ Total departmental expenditures are about 77% of budget and most departments are <br /> within or below budget. <br /> p0WIeI1 0 <br /> NAWREJ <br />