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MEMORANDUM
<br />Dater August 11, 2022
<br />To: Mayor and City Council
<br />From: Tom Kelly, Treasurer
<br />Re: Second Quarter 2022 Financial Report
<br />The City's audit is finally complete and the. Ana quarter is also over. The year is flying by. The
<br />City's revenues are above budget and:expenditures are below budget. Part of the reason
<br />revenues.are above budget is building permit revenue already exceeded their 2022 budget.
<br />Also some of the one-time fees such as. licenses. are paid at the beginning of the year and have
<br />:been paid. The key to the City's finances are that even though we are 50% through the year,
<br />revenues. and. expenditures do not flow evenly though the year. There are some one-time
<br />expenditures, which are spent at the. beginning of the year, and expenditures for snow plowing
<br />activities, which are spent during the first and fourth quarters of the year, which makes.the City
<br />lock like it may over Or under spend its budget, but over the course of the year, will actually be
<br />in line with budgeted amounts. Likewise, on the revenue: side sewer and water billing revenues
<br />are only redeived once a quarter. Below it a chart comparing budget t0 actual revenue. and
<br />expenditures for the years 2021 and 2022.
<br />ALL FUN D5
<br />Revenues
<br />2021:
<br />2021
<br />%
<br />2022
<br />2022
<br />.%
<br />Budget
<br />Actual
<br />Received
<br />Budget
<br />Actual
<br />Received
<br />General Fund
<br />23;424.96
<br />25,93125
<br />1103196
<br />22,675.02
<br />42,563.45.
<br />187.71%
<br />5p.ecial Revenue. Fds
<br />200.00
<br />123.74
<br />61.87%
<br />HUM
<br />15;237.59
<br />761.8.851Y.
<br />Debt Service Funds
<br />76,160,50
<br />308.08
<br />0.40%.
<br />74,016-0.0
<br />552:26.
<br />.0.75%
<br />Capital Project Funds
<br />13,500.00
<br />31,666.99
<br />234.57%
<br />30,000.00
<br />21,803.47
<br />72.68%
<br />Enterprise Funds
<br />35,375.00
<br />22,628.97
<br />63,97%
<br />41,670.00
<br />.K951.29
<br />131.87%
<br />Total
<br />148, 660.46
<br />80; 66163
<br />5.4.26%
<br />168, 561.02
<br />135,108116
<br />80.1.5%
<br />Expenditures
<br />2021
<br />2021
<br />%
<br />2022
<br />2022
<br />%
<br />Budget
<br />Actual
<br />Spent
<br />Budget
<br />Actual
<br />spent
<br />General Fund
<br />24.6,192.48
<br />212,763,09
<br />86.42%.
<br />261,839.00
<br />222,061.51
<br />84.875t
<br />Special Revenue Fds
<br />1,000.00
<br />0.00
<br />0.00y5.
<br />2,500.00
<br />o;00
<br />0.00%
<br />DebtService Funds
<br />65,632.50
<br />123,065,00
<br />187.51%
<br />64,930.00
<br />121,462.50.
<br />187.07%
<br />Capital Project Funds
<br />0.00
<br />15,244.69
<br />0.00%
<br />55,OD0.00
<br />93,247.63
<br />0,00%
<br />Enterprise Funds
<br />90,045.00
<br />22;291.41
<br />24.7694
<br />91,175.00
<br />57,378.50
<br />62.93.%
<br />Total
<br />402,969:98
<br />373,370.19
<br />92.6894
<br />475,244.00
<br />,494,150.14
<br />103..98%
<br />It should be noted that the budget amounts.are for half the year's budget apd.the actual is year
<br />to date. The rest of the report will detail the revenues and. expenditures of.each of six fund.
<br />types.
<br />GENERAL FUND
<br />For the second quarter, revenues are above budget. projections and expenditu.res.are below
<br />budget; which is show in future charts. However, the chart on the fallowing page shows how
<br />revenues are below expenditures levels for the first half of the. year; which is typical until the City
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