Laserfiche WebLink
Information <br /> J� <br /> City of <br /> Elk Memorandum <br /> River <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: June 19, 2017 <br /> Subject: May 2017 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 May, actual revenues (except for property taxes and state aids) and <br /> expenditures should run 42% of the annual budget. It is natural for some of the items to vary <br /> from month to month, such as exceeding budget for Supplies but being significantly below for <br /> Services. This is not considered serious as long as the total expenditure budget amount is not <br /> overspent. Significant variances from budget are highlighted below accompanied with a <br /> general discussion for the variance. <br /> GENERAL FUND <br /> Revenues: <br /> ■ Excluding transfers in,revenue collections are 10% of budget,with the first half <br /> property taxes to be collected in July. <br /> ■ Licenses and permits collections are 82% of budget estimates,with building-related <br /> permit collections at 82% and rental licenses at 103% as of the end of May. A large <br /> portion of the May building permit revenue is related to the Elk River Senior Living <br /> project. <br /> ■ Charges for services are about 57% of budget estimates,with May collections <br /> consisting mainly of plan check fees related to building permits. <br /> ■ Although fines and forfeits collections lag a month,reported collections through April <br /> are about 42% of budget estimates. <br /> ■ Transfers in reflect ERMU contributions through April. <br /> p0WIeII a <br /> NAWREJ <br />