Discussion:
General Fund - April 2020 (See attachment)
Revenue Variances (+/- 10% of 33% target)
- The 1st half property tax settlement will be received in June.
- Special assessments is a negative amount due to the payments 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.
- The majority of intergovernmental revenues are typical received in the fall.
- Miscellaneous revenues are ahead as a result of investment income, primarily from market value gains.
Expenditures Variances (+/- 10% of 33% target)
- In total departmental expenditures are within the normal range and similar to last year's expenditures through April.
- Mayor and Council departmental expenditures currently exceed the targeted amount as a result of annual dues and memberships paid at the beginning of the year.
- Natural Resources departmental expenditures currently exceed the targeted amount as a result of payments to Shadywood Tree Experts and Landscaping paid at the beginning of the year.
- Unallocated funds remain below budget as a result of unspent contingency funds.
Community Center/Ice Arena/Sand Venture - April 2020 (See attachment)
Revenues from the City's Community Center and Ice Arena operations have been significantly impacted by COVID-19.
Ice Arena/Community Center - Revenues are behind in terms of budget targets and comparison to the previous year, primarily related to operations being closes since March 17th.