General Fund - April 2022 (see attachment)

This early in the year, the timing of one or two large receipts or payments tend to skew the variances.

Revenue variances (+/- 33.3% target)

• Taxes and special assessments will remain below budget targets until the first half tax settlement is received.
• Licenses and permits are significantly ahead of budget targets and last year as a result of building permit revenue received through April.
• Miscellaneous includes investment earnings, with rising interest rates in 2022 the City currently has a large unrealized loss which is not reflected.  This adjustment occurs at year-end.

Expenditure variances (+/- 33.3% target)

• Total General Fund expenditures are within the normal range and similar to last year's percentage through April.  All departments are reasonably in-line with budget expectations.
  
  

Community Center/Ice Arena/SandVenture - April 2022 (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.

Community Center/Ice Arena - Revenues are in line with targeted budget expectations.