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<br />I . <br />. <br />~ CITY OF ARDEN HILLS <br /> MEMORANDUM <br /> - <br />I DATE: December 14, 1995 <br /> TO: Brian Fritsinger, City Administrator <br />. FROM: Terrance Post, City Accountant @ <br />. SUBJECT: November Ooeratinl! Results/Commentarv <br /> Enclosed are General Fund (101) Budget Summary and Budget Summary (All Funds) schedules <br />I for the eleven months ended November 20,1995. In addition, Investment Portfolio schedules as <br /> of November 30, 1995 are also enclosed for your review. Following is commentary regarding <br /> items I wish to call to your attention. <br />I A. General Fund (101) Revenue <br /> 1. Although property tax collections in the December tax settlement were not <br />. received until 12/1195, I have accrued a November receivable to book the revenue <br /> and facilitate analysis. Due to the significant amount withheld in pending petitions <br />.. and adjustments in this settlement, it appears that the property taxes revenue <br /> category may experience a $1 OOk or 6% negative budget deviation. <br />. 2. Licenses and permits revenue remains exceedingly strong with a $95k or 165% <br /> positive budget deviation occurring through November. The positive performance <br /> in this revenue category will largely offset the negative performance in the <br />I property taxes revenue category. <br /> 3. Although the Intergovernmental Revenues category is currently showing a $50k <br />. (81 %) negative budget deviation, the City would still expect to receive $5k in <br /> MSA maintenance funds and approximately $50k in HACA aid in December. <br /> . <br />. 4. Fines and Forfeits revenue reflects only distributions from the county through <br /> September, 1995. It is anticipated that this category will not be a negative budget <br />. deviation item at year-end. <br /> 5. In the Miscellaneous Revenue category, $115k was budgeted for !lquipment sales. <br />I Thus far only $4k (Toro Groundmaster) has been received. The remaining $Ilk <br /> was to come from the sales of a Public Works pickup and a Parks pickup. The <br /> new Public Works pickup has been purchased but the replacement not yet sold. <br />., The new Parks pick up has not yet been acquired. Consequently, the vehicle to be <br /> replaced is still in service. <br />I <br />I <br /> ~ <br />