General Fund - July 2023 (see attachment)

Revenue variances (58% target)

• The 1st half property tax settlement (including special assessments) was received in June.  The 2nd half settlement will be received in December.
• Licenses and Permits have now exceeded the full year budget targets.
• Intergovernmental is current below budget targets, this is typical as the majority of grant revenue is received in the fall.
• Fines and Forfeit revenue revenue has exceeded the budget amount.  The City received a class action settlement payment of $17k from Monsanto for their role in impairments to the environment, including water bodies.
• Miscellaneous is currently exceeding the full year budget target, primarily as a result of an increase in investment earnings.

Expenditure variances (58% target)

• In total, expenditures are at 58 percent, which is in line with the budget expectations through July.
• Finance department expenditures are currently ahead of budget targets, as a result of audit and assessment contract payments (one-time payments) that occur in the 1st half.  It is anticipated the department will be within budget for the full year.
• The Building Inspections department is currently ahead of budget targets, primarily as a result of annual software costs paid in the 1st half.  It is anticipate the department will be within the budget for the full year.

Community Center/Ice Arena/SandVenture - July 2023 (see attachment)

SandVenture

• Revenues for the year total $226k, which is up from the previous year and have exceeded the full year budget expectation of $192k.

Ice Arena

• Revenues for the year are at 54% of budget and ahead of last year through July by $88k.

Community Center

• Revenues are up from the previous year by $116k and are currently at 66 percent of budgeted annual revenues.