Laserfiche WebLink
INFORMATION <br /> �i <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Mayor and City Council <br /> FROM: Tim Simon, Finance Director <br /> DATE: May 20, 2013 <br /> SUBJECT: April 2013 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 and Ice Arena and Pinewood Golf Special <br /> Revenue Funds. These funds provide an important picture of the city's financial health. <br /> For the month of April, actual revenues (except for property taxes and state aids) and <br /> expenditures should run about 33% 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,revenue collections are slightly under 5% of budget estimates. <br /> Property taxes, our largest revenue source,will be received in July and December. <br /> ■ The first quarter gravel tax was received during the month of April. <br /> ■ Licenses and permit collections are 25% of budget estimates. A few mid-year liquor <br /> license renewals were collected in April. <br /> ■ Charges for services are about 28% of budget with April collections consisting <br /> primarily of recreation fees for spring/summer programs. <br /> ■ The transfer in is the Utilities' 3% contribution based on March electric sales. All <br /> other transfers will be recorded mid-year. <br /> Expenditures: <br /> ■ Excluding transfers,total departmental expenditures are 29% of budget and almost <br /> all departments are within or below budget. <br /> 1`4A U <br />