INFORMATION 05-15-2017 - Laserfiche WebLink

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Information Memorandum To: Mayor and City Council From: Jesse Dorn, Assistant Finance Director Date: May 15, 2017 Subject: April 2017 Monthly Financial Report _______________________________________________________________________ This report is designed to provide summary information regarding the overall level of revenues and expenditures in the General Fund, Ice Arena Special Revenue Fund, and Enterprise Funds. These funds provide an important picture of the city’s financial health. For the month of April, actual revenues (except for property taxes and state aids) and expenditures should run 33% 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 for the variance. GENERAL FUND Revenues:  Excluding transfers in, revenue collections are just over 8% of budget, with the first half property taxes to be collected in July.  Licenses and permits collections are 65% of budget estimates, with building-related permit collections at 81% and rental licenses at 96% as of the end of April. A large portion of the building-related permit collections is related to the Sherburne County Government Center.  Intergovernmental revenue collections consist of the first quarter “Toward Zero Deaths” grant.  Charges for services are about 52% of budget estimates, with April collections consisting mainly of plan check fees and recreation fees.  Although fines and forfeits collections lag a month, reported collections through March are about 32% of budget estimates.  Transfers in reflect ERMU contributions through March and the remaining transfers in will be recorded mid-year.