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<br />I <br />~ <br />I. CITY OF ARDEN HTU ,5 <br />. MEMORANDUM <br />I <br /> DATE: May 11, 1995 <br />I <br /> TO: Brian FritsiDger, City AdmiDistr:ltor <br />I FROM@Terran<<:e Post, City A<<:<<:ountant <br /> SUBJECT: April 1995 Operating Results/Commentary <br />I <br /> Enclosed are General Fund and All Funds budget summaries for the four months ended April 30, <br />I 1995. Following is commentary on significant items. <br /> General Fund (101) <br />I Revenue 1. License and permit revenues are on a pace to significantly exceed <br /> the 1995 budget. They are also currently exceeding similar 1994 <br /> revenues by $22,182. The primary positive variances are likely to <br />I occur in Building PermitIPlan Review and Heating Permit <br /> categories. <br />I- Expenditures 2. Thus far, Administrative Office expenditures have significantly <br /> under run budget. The primary reason has been a constant open staff <br /> position since the beginning of the year between the City <br />I Administrator and Community Development Director positions. <br /> Salary savings of approximately $16,000 have been realized. <br />I 3. Street Maintenance expenditures do not yet include any allocated <br /> pavement management program costs, Likewise, the Parks <br /> Maintenance department has not incurred any budgeted capital costs <br />I and no operating rransfers from the General Fund have yet been <br /> made. Therefore. the apparent positive variance in these departments <br /> is overstated at this point in time. <br />I Other Funds <br /> Park Fund d Park Fund revenue has benefitted from strong contribution activity <br /> in support of the proposed Perry Park redevelopment project. <br />I Comm. Services 5, The licensed chantable gambling organizations had an extremely <br /> strong fiJ:S'[ quarter. 1995 ten percent profit contributions of $18,924 <br />I compare very favorably to that of 1994 ($10,539). <br /> Utility Funds 6. Water, Sewer and SWlVI expenses are not matched with <br />I corresponding revenue until year-end. Revenues are generally <br /> reported on a 120 to 150 day lag basis after expenses are incurred. <br />I- If you have any questions on the enclosed financial data or comments on the above, do not hesitate <br />I <br />