Discussion:
May 2019 Review (See Attachment)
Revenue Variances (+/- 10% of 41% Target)
- Taxes will continue to have a variance until our first half property tax payment is received in June.
- Special Assessments continue to be a negative amount due to the payment to Republic Services for delinquent garbage assessments. Similar to last year, this account will be negative until we receive our first and second half tax payments.
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Licenses and Permits continues its strong start to the year with almost $2.3 million in permit and license revenue which equates to 130 percent of the year's budget. The City Clerk's office receipted $126,000 of liquor licenses in May in preparation of the upcoming renewal deadline of June 30th.
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Fines & Forfeitures recorded $2,000 of fine revenue for alcohol and/or tobacco violations.
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Miscellaneous revenue is tracking at a higher pace compared to 2018, which is attributed to an increase in investment income.
Expenditure Variances (+/- 10% of 41% Target)
- Overall General Fund expenditures are sitting at 39% of budget which is right in line for this point in the year.
- The Finance Department is over budget due to a $290,500 payment to Scott County for annual assessing services. This variance is expected to dissipate as the year progresses.
- Natural Resources is over budget due to contracted tree trimming work that began late this winter and spring, which was planned in the budget. This budget variance should be eliminated as the year progresses.
- All other departments/divisions are within +/-10% of the May 31, 2019 target date.
SandVenture/Ice Arena/Community Center Year-over-Year Comparison (See Attachment)
May 2019
SandVenture activity is beginning to occur as staff are preparing for the upcoming summer season including the purchase and installation of a new double tot water slide.
Ice arena revenues are approximately $358,000 through May 31, an increase of almost $40,000 from this same time last year.
Ice arena operating expenditures are about $38,000 higher than this same time last year. In April this year an industrial floor scrubber was purchased for about $11,000. This is a one-time purchase and will be made up from savings in canceling the cleaning contract and bringing those duties in house. Overall, ice arena expenditures account for 37 percent of the year's budget.
Community Center revenues are over $530,000 thru May 31, which is about 55 percent of the year's budget and over $60,000 higher than this time last year. The wages & benefits category is about $57,000 more this same time last year. $35,000 of this variance is due to having a full part-time staff at the community center compared to a year ago. The increase in operating expenses is related to an increase in internal rent charges from 2018 to 2019 and general operating expenses such as pool chemicals, birthday party supplies, and other promotional supplies associated with room rentals and community center activities. Overall, the Community Center has utilized 42 percent of its expenditure budget through May 31, which is on target through this point of the year.
Deferred revenue related to annual membership sales for May 2019 and 2018 are very similar.