General Fund - August 2021 (See attachment)

Revenue Variances (+/- 10% of 67% target)

• Taxes will remain below budget targets until the 2nd half property tax settlement is received.
• Special assessments are currently exceeding budget targets, but will be adjusted when assessment rolls for delinquent storm, sewer and refuse are applied. 
• Intergovernmental is exceeding budget targets as a result of federal funding from the American Rescue Plan Act.
• Licenses and permits are exceeding the budget amount as a result of building permit revenue received in through August.

Expenditure Variances (+/- 10% of 67% target)

• Total expenditures are in line with budget targets
• Mayor & Council department expenditures will remain below budget targets until the September renewal of the League of MN Cities membership dues.
• Finance department expenditures are currently exceeding the budget target as a result of the timing of the annual assessment and audit contracts.  The audit cost included the additional cost of a single audit, required for Federal CARES Act funds.
• Planning and Development expenditures are currently exceeding the budget target as a result of the contract with Stantec for master planning/AUAR and the purchase of parklets (to be paid from American Rescue Plan Act funds).
• Unallocated is below the budget target as a result of unspent contingency funds.

Community Center/Ice Arena/Sand Venture - August 2021 (See attachment)

Sand Venture

• Sand Venture closed for the season in August following a very successful year.  Revenues for the year of $260K exceeded budget expectations of $185k.

Ice Arena

• Revenues are up in comparison to this time last year and ahead of budget targets.  

Community Center

• Revenues are ahead of the previous year, but below budget targets.