Discussion:
General Fund - February 2021 (See attachment)
This early in the year, the timing of one or two large receipts or payments tend to skew the variances.
Revenue Variances (+/- 10% of 16.7% target)
- Licenses and permits are exceeding the budget amount as a result of building permit revenue received in January/February.
- Fines and Forfeit revenue is currently showing a negative amount. This relates to the timing of pass thru revenue to Scott County that will be "zeroed" out when the journal entry is made to accrue it back to December 2020.
Expenditure Variances (+/- 10% of 16.7% target)
- All departmental expenditures are within the normal range and similar to last year's percentage through February.
Community Center/Ice Arena/Sand Venture - February 2021 (See attachment)
Similar to the analysis of the City's General Fund, reviewing revenue and expenditures early in the year can be easily skewed depending upon what type of transactions did or did not occur. At this point in the year variances for Sand Venture and the Ice Arena are minimal. As a result of COVID-19 impacts, the Community Center revenues were about half of what they were the previous February.