Discussion:
October 2017 Review (See Attachment)
Revenue Variances (+/- 10% of 83% Target)
- Taxes - Received first half taxes in June, second half payment will come in December.
- 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 October with $398,006 of license and permit receipts. Year-to-date revenues have exceeded the 2017 budget by $818,625.
- Intergovermental - The city is not anticipating any further intergovernmental revenues for the remainder of the year.
- Charges for Services - Recorded monthly revenue of $374,694. Contractual police services accounted for $23,160, along with SPUC franchise fees of $176,000, and Recreation Services of $135,900.
- Fines & Forfeits - Fines and forfeits revenue has exceeded the 2017 budget allotment of $1,500. A majority of the revenues in this category come from late fees associated with the monthly lodging tax submittals and payments related to the driving diversion program.
- Miscellaneous - Interest earning receipts are slightly higher than anticipated.
Expenditure Variances (+/- 10% of 83% Target)
- Finance - is slightly above budget due to the timing of service contract payments such as assessing and auditing services.
- Engineering - is below budget due to personnel vacancies earlier in the year.
- Street Maintenance - is remains slightly higher than budget due to the seasonal nature of maintenance projects. As the construction season nears an end, budget to actual expenditures will begin to draw closer.
- Unallocated - This division accounts for items that cannot be specifically assigned to specific departments or divisions. Included in this division is the city's contingency allotment of $110,000.
- All other departments/divisions are within +/-10% of the October 31, 2017 target date.
Community Center & Ice Arena Year-over-Year Comparison (See Attachment)
Ice arena revenues are at $459,664 through October 31, which is approximately $237,000 greater than this same time last year. Ice rental revenues are ramping up as both the association and high school hockey seasons have started.
Ice arena expenditures are remaining steady from month-to-month. As previously mentioned we are monitoring the utility costs, as the gas and electric charges are more than originally anticipated. The ice arena should recognize a savings in part-time salaries that will offset some of the utility variance.
Community center revenues surpassed the 2017 budget back in August. We are still anticipating a number of new and renewing memberships between now and the end of the calendar year.
Community center expenditures are running within the overall anticipated budget. The aquatics center came on-line in July, which will have an effect on both revenues and expenditures. Electric charges have about doubled since July 1, which is likely a combination of summer cooling costs and the aquatics center opening.