Item Coversheet

*5.A.2.


Shakopee City Council
April 18, 2023

FROM:Nate Reinhardt, Finance Director
TO:Mayor and Council Members
Subject:
Monthly Financial Review - March 2023
Policy/Action Requested:
Review of March 2023 General Fund revenues and expenditures, and Community Center, Ice Arena and SandVenture year-over-year comparison.
Recommendation:
Information Only
Discussion:

General Fund - March 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 (+/- 10% of 25% target)

  • Property taxes and special assessments are will be received with the 1st half tax settlement in June.

 

Expenditure variances (+/- 10% of 25% target)

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

 

Community Center/Ice Arena/SandVenture - March 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. 

 

Community Center - Revenues are ahead of this time last year.

 

Ice Arena - Revenues are ahead of this time last year.

 

Quarterly Investment Portfolio Report - Q1, 2023

 

The investment report was not yet available for the first quarter.  The report will be included and presented with the April monthly financial report.

Budget Impact:
No budget impact
ATTACHMENTS:
Description
March 2023 Monthly Financial Report
March 2023 Recreation Facilities Year-to-Year Comparison