General Fund - February 2023 (see attachment)

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

Revenue variances (17% target)

• Taxes will remain below budget targets until the 1st half settlement is received in June.

Expenditure variances (17% target)

• All departmental expenditures are within the normal range and similar to last year's percentage through February.

Community Center/Ice Arena/SandVenture - February 2023 (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.  At this point in the year variances for SandVenture, Ice Arena and Community Center are minimal.