INFORMATION 05-21-2012 - Laserfiche WebLink

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INFORMATION VE',~` MEMORANDUM TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: May 21, 2012 SUBJECT: April 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 axe the primary concern in analyzing the City's financial health. Fox the month of April, actual revenues (except for property taxes and state aids) and expenditures should run slightly over 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 axe highlighted below accompanied with a general discussion for the variance. General Fund Kevenue.r: • Excluding transfers, revenue collections are slightly over 5% of budget; however, property taxes, our largest revenue source, will be received in July and December. • The first quarter gravel tax was received during the month of April. • Licenses & permits collections are about 29% of budget estimates. • Charges for services axe slightly over budget estimate and recreation fee collections axe over 53%. • Fines & forfeits are about 28% of budget; however, court fines reflect collections received through the month of March. • Transfers in from other city department will be recorded mid-year. E.x~enditurer: • Excluding transfers, the total departmental expenditures are about 28% of budget estimates and most departments are well within or below budget.