INFORMATION 04-16-2012 - Laserfiche WebLink

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INFORMATION V~~` MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: April 16, 2012 SUBJECT: March 2012 Monthly Financial Report This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund and Ice Arena and Pinewood Golf special revenue funds. These funds are the primary concern in analyzing the City's financial health. For the month of March, actual revenues (except fox property taxes and state aids) and expenditures should run 25% 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 are highlighted below accompanied with a general discussion fox the variance. General Fund revenues: • Property taxes, our largest revenue source, will be received in July and December. • The majority of building permit revenue collected this month is for the public works facility project. • Charges for services are 34% of budget estimate. March collections consist mainly of plan check fees related to the public works facility and spring/summer recreation fees. • Court fines received in March were for January and February fine collections. • The transfer in from Utilities is for January and February, the transfers in from other city departments will be recorded mid-year. E.>cj~enditures: • Excluding transfers, the total departmental expenditures are 20.5% and most departments axe well within or below budget.