General Fund - September 2019

Revenue Variances (+/- 10% of 74%)

• Taxes will be below target until December when the second half property taxes are received (no change this period)
• 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 (no change this period).

• Licenses and Permits revenue remain strong with additional 153k in collections in September.

• Intergovernmental revenue is below the target budget in this report, but 646k in Police and Fire aid were received on October 1 (after this reporting period).

• Fines & Forfeitures revenue is higher due to alcohol violation fines earlier this year (no change this period)

• Miscellaneous continues to track at a higher pace compared to 2018, which is attributed to an increase in investment income.

Expenditure Variances (+/- 10% of 74%)

• Overall general fund is right on target at 74%
• Finance department is running +8% due to payment of assessment fees to Scott County - tracking within parameters to finish the year within budget.
• Street maintenance is running +9% but is trending to end the year within 3% of the original budget. This overage is due to weather related costs in the early part of the year. If there are significant weather events early this winter, this budget can be expected to trend further out of budget parameters.

Community Center/Ice Arena/SandVenture - September 2019

SandVenture

• Additional expenses accrued in August were accounted for during September - very little new revenues. If the year were to end today SandVenture would be right on budget. At this point it is likely that expenditures will remain overall at or below budgeted amounts.

Ice Arena

• Ice arena revenues are right on track with 2018 revenues, but behind in terms of percentage of budget. This is the time of year that revenue collections really begin to increase and Ice Arena revenues appear to be on target.
• Ice arena expenditures are about 56k more than this time last year. There are no large expenditure overages, just a couple of smaller overages, 12k in building maintenance, 12k in part time wages, and several smaller (<5) that are tracking slightly over. 

Community Center

• Revenues are tracking ahead of projections by about 12% or +$100k on an annual basis.
• Expenditures continue to track somewhat ahead of projections due to increased demand and increased expenditures related to revenue producing activities (approx 2k). Approximately 30k was miscoded as operating expenditures that should have been coded to Capital Improvement Projects and funded from the CIP. 
• Wages and benefits continue to trend higher as compared to 2018, as planned, due to revenue growth strategies.