Revenue Variances (+/- 10% of 41.6% Target)

• Taxes
  • Property taxes are received by the city twice a year, in June and December. The
    $99,858 of revenue in this line item is related to lodging tax that is collected and
    submitted to the Shakopee CVB.
• Special Assessments
  • This is negative revenue at the moment, which reflects the payment to Republic
    Services for delinquent garbage bills. The city will recoup this payment through
    the special assessments levied against the delinquent account holders.
• Licenses & Permits
  • Revenue is down about 20 percent compared to last year at this time, but still above the target of this year's expected budget.
• Intergovernmental
  • Current year-to-date revenue is below the anticipated budget target for May, but slightly higher than this same time last year.  Police and fire state aid of approximately $585,000 and the second half allotment of street maintenance funds of approximately $275,000 are not received until later in the year.

Expenditure Variances (+/- 10% of 41.6% Target)

• Finance Department
  • Expenditures are slightly above the target range due to a recent payment made to Scott County for 2017 assessing services in the amount of $268,600.  This payment is the single large largest nonrecurring expenditure within the Finance department, expenditures are expected to fall back within the target range as the year progresses.
• Engineering Division
  • Engineering division expenditures are below the target budget range due to two open engineering positions that were just filled on May 1.
    
    
    
• All other City Departments/Divisions are within a few percentage points of the 41.6 percent target or are significantly below.

Community Center & Ice Arena Year-over-Year Comparison

Ice arena revenues are at $273,491 through May 31, which is approximately $104,000 greater through this same time period last year.  As typical for all ice arenas, offseason ice sales are expected to decline in the summer months and then pick back up in the fall.  As of May 31, ice arena revenues are in line with the budget target. 

Ice arena expenditures are remaining steady, but obviously at an increased level compared to the prior year.  Expenditures should remain constant throughout the summer as both sheets of ice are still in operation.  As of May 31, year-to-date expenditures were approximately 41 percent of the years budget.  This is right in line with the budget target.

Community Center revenues have increased almost $146,000 or 128 percent compared to
this same time last year. Membership sales to date are $221,686 compared to $88,765 this time last year. 

Personnel expenditures are up 18 percent compared to last year, which is expected due to the need to hire additional staff to cover expanded operations. Operational expenditures are up 25 percent or about $31,400 compared to last year.  Approximately, one-third of this is due to the lease payments on the new fitness equipment.  The remaining difference is attributable to costs of maintaining a larger facility such as utilities and cleaning service costs.