Discussion:
General Fund - May 2020 (See attachment)
Revenue Variances (+/- 10% of 42% 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 typically received in the fall.
- Charges for services are below budget due to the Community center/Ice Area closures.
- Miscellaneous revenues are ahead as a result of investment income, primarily from market value gains.
Expenditures Variances (+/- 10% of 42% target)
- In total, departmental expenditures are within the normal range and similar to last year's percentage through May.
- 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.
- Finance expenditures are currently exceeding the targeted amount as a result of audit and assessing contract expenses occurring at the beginning of the year.
- Natural Resources departmental expenditures currently exceed the targeted amount as a result of spring tree pruning.
Community Center/Ice Arena/Sand Venture - May 2020 (See attachment)
SandVenture - will not open in 2020
Community Center/Ice Arena - Revenues are behind in terms of budget targets and comparison to the previous year, primarily related to operations being closed since March 17th.