General Fund - August 2022 (see attachment)

Revenue variances (+/-10% of 66.7% target)

• Licenses and permits are exceeding the budget amount and ahead of last year, primarily as a result of building permit revenue.
• 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 66.7% target)

• Total General Fund expenditures are within the normal range and similar to last year's percentage through August.
• 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 1st half).  At this point, it is assumed the department will be within the budget target at year end.
• The Planning and Development department is currently exceeding the target percentage as a result of the Entertainment EAW.  These expenditures will be reimbursed by the developer.
• 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 - August 2022 (see attachment)

SandVenture 

• SandVenture completed the year with $239k in total revenues, exceeding the budget of $189k.

Community Center 

• Revenues are ahead of the previous year and are currently at 59 percent of budgeted annual revenues.

Ice Arena 

• Revenues are similar to last year and are currently at 53 percent of budgeted annual revenues.