General Fund - November 2023 (see attachment)

Revenue variances (92% target)

• Taxes will remain below the budget target until the 2nd half settlement is reflected in December's report.  The City received the 2nd half settlement on December 1.
• Licenses and Permits have exceeded the full year budget targets and are currently ahead of last year's revenue.
• Charges for Services have exceeded full year expectations, recreational revenues are a contributing factor. 
• 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.  The revenue is anticipated to further increase when an unrealized gain for the year is booked at year end.

Expenditure variances (92% target)

• In total, expenditures are at 87 percent, which is in line with the budget expectations through November.
• All individual departments are reasonably anticipated to be within their budget targets for the year.  As a result, currently it is not anticipated that staff will bring forward any additional budget amendments to the 2023 budget.

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

SandVenture

• Revenues for the year total $295k, 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 88% of budget and ahead of last year through November by $121k.

Community Center

• Revenues are up from the previous year by $191k and have exceeded budgeted annual revenues.