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MEMORANDUM
<br />Date: November 10, 2021
<br />To: Mayor and City Council
<br />From: Tom Kelly, Treasurer
<br />Re: Third Quarter 2021 Financial Report
<br />With the third. quarter safely behind us already.. The City's revenues and expenditures are
<br />where they should be now or a little below. The Re.y to the City's finances -are that even though
<br />we are 7.5% through the year, revenues and expenditures do not flow evenly though the year.
<br />All debt payments have been made so debt service expenditures are 100% spent, but snow
<br />p€owinglsanding expenditures have-not yet started for the end of the year so general fund is
<br />Under budget. Below is a chart comparing. budget to actual revenue and expenditures for the
<br />years 2020 and 202t ,
<br />Revenues
<br />2020
<br />2020
<br />%
<br />2021
<br />2021
<br />9i
<br />Budget
<br />Actual
<br />Received
<br />Budget
<br />Actual
<br />Received
<br />General Fund
<br />276,581.47
<br />302;676.27
<br />109.4351.
<br />257,904.94
<br />288,742,84
<br />111.96%
<br />Special Revenue Fds
<br />68,493.00
<br />398.94.
<br />0.58%
<br />300.00
<br />314.53
<br />104.84%.
<br />bebtService Funds
<br />61,788..75
<br />76,774.45
<br />124.25%
<br />114,240,75.
<br />75,805.91.
<br />66.36%.
<br />Capital Project Funds:
<br />49,687.50
<br />47,425.33
<br />95.45%
<br />20,250.00
<br />52,510.88
<br />2.59.31%
<br />Enterprise Funds
<br />31;165400
<br />66;203.94
<br />212.43%
<br />53,062.50
<br />66,843.76
<br />125.97%
<br />Total
<br />487,715.72
<br />493,478:93
<br />.10LM
<br />445,758A9
<br />484,217.92
<br />108.63%
<br />Expenditures
<br />2020
<br />.2020
<br />36
<br />2021
<br />2021
<br />Budget
<br />Actual
<br />Spent
<br />Budget
<br />Actual
<br />Spent
<br />General Fund
<br />389,353.50
<br />252,399,53
<br />64.83%
<br />369,288.72
<br />352,1.32.12
<br />95.35Y0
<br />Special. Revenue Fds
<br />78,750.00
<br />0.00
<br />0..00%
<br />1,500.00.
<br />0.00
<br />O.OD%
<br />Debt.Service Funds
<br />95,598.75
<br />136,165.00
<br />142.43%
<br />98,448.75
<br />129;815.00
<br />131,86%
<br />Capital Project Funds.
<br />45,768.00
<br />0.00
<br />0.00%
<br />0.00
<br />103;816.52
<br />0.00%
<br />Enterprise Funds
<br />78,712:50
<br />38,706.20
<br />.49.17%
<br />135,067.50
<br />43491.01.
<br />32.20.%
<br />Total
<br />688,182.75
<br />427,270.73
<br />62.091Y.
<br />6Q4;304:97
<br />629254.65
<br />104.13%
<br />It should be noted that the budget amounts are for three quarters of the year and the actual is
<br />year to date actual revenues collected or funds spent. The rest of the. report will detail the
<br />revenues and expenditures of each of five fund types.
<br />GENEARLFUND
<br />For the third quarter, revenues are still above budget projections and .expenditures are. below
<br />budget, which.is shown in future charts, The. chart on the following page shows how revenues
<br />are below expenditures levels for the. first three. quarters of the year, which is typical until the
<br />December tax settlement is received. In addition, one can see how. the: City depends on
<br />reserves (cash balances) until the December tax payments are received.
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