June 2017 Review (See Attachment)

Revenue Variances (+/- 10% of 50% Target)

• Special Assessments
  • This remains a negative revenue amount through the first half collection of property taxes. The negative amount is result of the payment to Republic Services for delinquent garbage bills.  The city will recoup this payment through special assessments levied against the delinquent account holders.  The second half tax collection in December will account for the remainder of the variance with special assessment revenues.
• Licenses & Permits
  • Experienced another strong month in June with $284,032 of License and Permit receipts.  Year-to-date revenues have already reached 77% of the expected budget.
• Intergovernmental
  • Similar to last month, current year-to-date revenue is below the target for June, 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.  Those payments will shore up the expected intergovernmental revenue.
• All other revenues are within the target range for the month ending June 30. 

Expenditure Variances (+/- 10% of 50% Target)

• All departments are within + or - 10% of the target as of June 30. 
• The street maintenance division did see a significant increase in expenditures compared to the prior month and in comparison to last year at this same time.  In June, the street maintenance division paid two contractors for chip and crack sealing.  Those combined payments amounted to almost $380,000.

Community Center & Ice Arena Year-over-Year Comparison (See Attachment)

Ice arena revenues are at $348,292 through June 30, which is approximately $160,000 greater than this same time last year. In June, the ice arena receipted about $75,000 in private ice rental for various camps and teams.  These payments are for their entire ice allotments through the summer and early fall. 

Ice arena expenditures are remaining steady, but obviously at increased level compared to the prior year.  Expenditures should remain constant throughout the summer as both sheets of ice are in operation. 

One expenditure line item we are monitoring is the ice arena electricity.  The initial budget is $84,000.  Through the first four months of the year, the monthly bills have averaged about $14,000.  Extrapolating that out over the remainder of the year equates to about $168,000.  On the community center side, electricity costs are running below the anticipated budget.  The aquatic center will add to the community center's electrical load, but the budget number for the community center should still be adequate.  We will continue to monitor these line items as the year progresses.      

Community center revenues have increased $157,538 or 122 percent compared to this same time last year. Specifically, membership sales to date are $243,945 compared to $102,287 as of June 30, 2016.

Community center expenditures are running very similar to last month and within the overall anticipated budget.  The community center aquatic center and indoor playground are expected to open within the coming weeks which will have an impact on both revenue and operating expenditures.