General Fund - July 2022 (see attachment)

Revenue variances (+/- 10% of 58.3% target)

• Licenses and permits are exceeding the budget amount as a result of building permit revenue received through July.
• Intergovernmental is currently below budget targets, however most intergovernmental revenues are received in the fall.
• 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 (+/- 10% of 58.3% target)

• Total General Fund expenditures are within the normal range and similar to last year's percentage through July.
• Finance Department expenditures are currently exceeding the target percentage as a result of the timing of payments for audit and assessing contracts (payments made in the 1st half).
• The Building Inspection department is currently exceeding the target percentage as a result of credit card fees related to building permit revenue and annual software costs.

Community Center/Ice Arena/SandVenture - July 2022 (see attachment)

SandVenture 

• SandVenture has received 97 percent of budgeted annual revenue.

Community Center 

• Revenues are up from the previous year and are currently at 51 percent of budgeted annual revenues.

Ice Arena 

• Revenues are below this time last year and are currently at 46 percent of budgeted annual revenues.