Laserfiche WebLink
Information <br /> City of <br /> EIL')(l -�-� <br /> i� l. <br /> River Memorandum <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: May 20, 2019 <br /> Subject: April 2019 Monthly Financial Report <br /> This report is designed to provide summary information regarding the overall level of revenues and <br /> expenditures in the General Fund,the Ice Arena Special Revenue Fund, and the Enterprise Funds. <br /> These funds provide an important picture of the city's financial health. <br /> For the month of April, actual revenues (excluding property taxes and transfers in) and expenditures <br /> should run about 33% of the annual budget. It is natural for some of the items to vary from month- <br /> to-month, such as exceeding budget for Supplies but being below budget for Services. This is not <br /> considered serious as long as the total expenditure budget amount is not overspent. Significant <br /> variances from budget are highlighted below accompanied with a general discussion for the variance. <br /> GENERAL FUND <br /> Revenues: <br /> ■ Excluding transfers in, overall general fund revenues are about 4% of budget. <br /> ■ The first quarter gravel tax and TZD enforcement grant were received in April. <br /> ■ Licenses and permits are 19% of budget estimates with building permit activity starting to <br /> pick up as the weather warms. <br /> ■ Charges for services are in line with budget estimates at 35% of budget. <br /> ■ Fines and forfeits,which lag a month for collections,are running 23% of budget. <br /> ■ Contributions include sponsorships received for the Elk RiverFest event. <br /> ■ Transfers in are comprised of ERMU's 4% electric revenues through March and the majority <br /> of transfers in will be recorded mid-year. <br />