|
MEMORANDUM
<br />Date:
<br />April 13, 2018
<br />To:
<br />Mayor and City Council
<br />From:
<br />Tom Kelly, Treasurer
<br />Re:
<br />Fourth Quarter 2017 Financial Report
<br />Another year has flown by. The City's auditor, Clifton, Larson, Allen have completed their field
<br />work for the City's 2017 Annual Financial Report, which will be presented to the City Council in
<br />May or .tune. The 40 quarter financial report is based on preliminary unaudited financial records
<br />and there could be some minor adjustments once the audit. is completed. For the year,
<br />revenues are above 2017 budget amounts and expenditures are below.. Below is a chart
<br />comparing budget to actual revenue. and expenditures for the years 2016 and 2017.
<br />Revenues
<br />2016
<br />2016
<br />%
<br />2011
<br />20.17
<br />Budget
<br />Actual
<br />Received
<br />Budget
<br />Actual
<br />Received
<br />General Fund
<br />273,s7D.00
<br />288,630:00
<br />105:39%
<br />4191976.00
<br />469,092.45
<br />111.70%
<br />Special. Revenue.Fds
<br />276.06
<br />409.94 r
<br />151:83%
<br />345.00.
<br />287.82
<br />83,43%
<br />Debt Service Funds
<br />85,418.00
<br />82;810.33 r
<br />96.95%
<br />76,494.00
<br />77,510.60
<br />101.33%
<br />Capitai.Project Funds
<br />7,148.06
<br />61,936.67 v
<br />866.49%
<br />63,570.00
<br />35503.65
<br />55.95%
<br />Enterprise Funds
<br />55,750.0D
<br />49,237.50 r
<br />88.32%
<br />57,097.60
<br />61;579.93
<br />107.85%
<br />Total
<br />422,456.00
<br />493,.024.44
<br />114.34°%
<br />617,482.00
<br />643,974.45
<br />104.29%
<br />Expenditures
<br />20.16
<br />2016
<br />%.
<br />2017
<br />2017
<br />%
<br />Budget
<br />Actual.
<br />Spent
<br />Budget
<br />Actuai
<br />Spent
<br />General Fund
<br />,353,870.00
<br />341,531.00
<br />96,51%
<br />419,976.00
<br />368,472.76
<br />87.74%
<br />Special Revenue:Fds
<br />a00
<br />0.00
<br />D.DD%
<br />0.00
<br />abo
<br />0.00%
<br />DebtServiee Funds
<br />46,479.00
<br />39,917,50 Y
<br />85.88%
<br />77,055'00
<br />79,488:00
<br />103.16%
<br />Capital Project Funds
<br />562)600.00
<br />323,883:04
<br />57.57%
<br />0.00
<br />19,.763.17
<br />Enterprise:Funds
<br />68,113.00
<br />30,264.17 r
<br />44.43%
<br />68,855.00
<br />60,485.29
<br />.87,84%
<br />Total
<br />1,031,N2.00
<br />735,595.71.
<br />71,34%
<br />565,886.00
<br />528,209.22
<br />93.34°/
<br />The rest of the report will detail the revenues and expenditures of each.of five fund types:.
<br />GENEARL FUND
<br />For the year, revenues exceeded budget projections and expenditures are. below budget, which
<br />is show in future charts. However, the chart on the following page shows how revenues
<br />exceeded expenditures levels for the year, which is due to the second half property tax payment
<br />being received and planning fees exceeding budget amounts. In addition, one can see how the
<br />City depends on reserves (cash balances) until that tax payments are received.
<br />
|