Review the November 2018 General Fund revenues and expenditures, along with the year-over-year operations comparison of the Community Center/Sand Venture and Ice Arena.

General Fund - November 2018 Review (See Attachment)

The November financial report continues with the same steady and positive trends as all previous months this year. 

Revenue Variances (+/- 10% of 92% Target)

• General Fund revenues continue trending in the right direction, led by strong building permits and charges for services revenue which includes recreational activities, SPUC revenue sharing, private duty overtime reimbursement, etc. 
• Taxes and Special Assessments revenues are below the target at this point in the year. Taxes will be shored up with the second half tax collection payment received on December 3rd. Special Assessments will also be shored up with the second half tax collections. Special Assessments in the General Fund are primarily related to delinquent garbage assessments.

Expenditure Variances (+/- 10% of 92% Target)

• Overall General Fund expenditures are sitting at 86% of budget which is 6% below the target at this point in the year. 
• Mayor & Council expenditures are expected to slightly exceed the original 2018 budget. The 2018 revised budget amends the original budget to include additional dollars for part-time wages to account for boards and commission recording secretary salaries that were originally accounted for within other departments, mainly the planning and development department.
• Engineering expenditures are within the target range but are also expected to exceed the original budget. Overtime devoted to private developer projects is accounting for this overage. Developer fees related to private development offset this increased expenditure. The 2018 revised budget amends the engineering budget to account for this additional overtime need.
• All other departments are within the target variance at this time.

Community Center/Sand Venture& Ice Arena Year-over-Year Comparison - October 2018 (See Attachment)

2018 Ice Arena revenues are $17,682 less than this same time last year. The billing for the school districts first-half ice contract for the 2018-19 hockey season in the amount of $62,500 was billed in November last year and not unit December this year. That billing shores up the ice arena revenue to mirror the trend of slightly higher revenue in 2018 compared to 2017. Ice arena expenditures are tracking at about 85% of budget, which is below the 92% target range for November.

Community Center/Sand Venture revenues surpassed the entire 2018 budget in September and are continuing to increase as the year progresses. As of November, the Community Center/Sand Venture have recorded over $1.2 million in revenues. This is over $220,000 more than originally budgeted. 

Community Center/Sand Venture expenditures are higher than this time last year due to the facility not being fully functional until mid-summer of 2017. Through November 2018, the Community Center/Sand Venture expenditures account for approximately 86 percent of the budget. Similar to the Ice Arena, this is also below the 92% target for November.  

Overall the Community Center/Sand Venture and Ice Arena are exceeding budget expectations at this point in the year. Revenues are exceeding budget projections in both facilities while expenditures are well within budget parameters.