CCP 07-15-1996 - Laserfiche WebLink

Home Browse Search

. . CITY OF ARDEN HILLS .- MEMORANDUM . DATE: July 11, 1996 TO: Brian Fritsinger, City Administrator . FROM: Terrance Post, City Accountant@ . SUBJECT: June 1996 Operating Results/Commentary . Enclosed are General Fund and All Funds budget summaries for the six months ended June, 1996. Also enclosed are Investment Portfolio Schedules as of June 30, 1996. Following is . commentary on noteworthy items. 101 Revenue: . I. Current month Property Taxes revenue reflects an accrual of the semi- annual tax settlement received July 5, 1996. The settlement included the release of$180,175 in pending petitions and abatements that had . . previously been withheld from the December, 1995 tax settlement. With this item not considered ($1,099,192 - $180,175), this revenue source . tracks to a 1.4% increase over July, 1995 tax settlement revenue. 2. License & Permits YTD revenue of$169,757 has already exceeded the . annual budget of$156,650. Driving this positive variance are YTD Building Permit revenues exceeding budget by $23,089 ($85,000 budget; $108,089 actual) and YTD Heating Permit revenues exceeding budget by . $9,502 ($7,500 budget; $17,002 actual). 3. Two significant state aid revenue items (HACA - $87,607; and Fireman's . Relief Aid - $110,000) have not yet been received. YTD Intergovern- mental revenues therefore do not track on a "run rate" basis. . 4. YTD Miscellaneous Receipts includes $13,103 in equipment sale revenue for two vehicles that were replaced in 1995 (P/W pickup & Parks dump . truck). 5. The Interest Income YTD credit of($1,365) arises from the reversal of the . 12/31/95 interest income accrual. 101 Exnenditures: . . 6. Expenditures in the elections department include $2,080 for voting matching maintenance. .