2007 04-24 CCP - Laserfiche WebLink

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2007 EXPENDITURES: BUDGETED COMPARED TO ACTUAL $400,000-•---•••-----•------•-----•-•---•---------------------- -----------------•----••----•-----..-..------•- ----------------- $300.000 $250,000 -•-••--- $200,000 $150,000--•----------•---------------------•---•---- --- ----- •--.--- $100,000 -------•---------•----------•-•--------•-----------------------•-•---------------------------- $50,000 ........................•--- -••-- $o a� JAN.1 JAN.31 FEB. MAR. APR. MAY JUN. JUL AUG. SEP. OCT. NOV. DEC. -x-07BUDGET �07ACTUAL If expenditures were spent evenly throughout the year the City should have spent 25% of its budget. There are many activities that appear to be over budget, but again it is due to the way the budget was prepared base on past financial records compared to the way things are being recorded now. The bottom line is the City has spent 27% of its 2007 budget, which is due to the snow removal budget being 67% spent. This activity will have very few if any expenditures until the 41h quarter of the year and most likely will finish the year near its budget amount. In addition, there is more finance administration in the first quarter due to the efforts of setting up the City's financial records on the new computer system and the change over from staff to contracting with the Town. I expect these expenditures to be less in the future. Overall, I believe the City's expenditures will finish the year below or near budgeted amounts. On February 1" the City paid its 2007 debt obligations of $24,933.00 in principal and $15,012 of interest. The City now has $781,587.008.00 in outstanding debt. The next scheduled debt payment is the principal and interest payment of $40,589 due August 1st and the City will receive the first half tax settlement (special assessment payments) in July to help make the payment. In addition the City will have the new debt issuance for the new city hall building. The City had very little construction activity during the Vt quarter, which is not unusual. These are activities usually take place in the summer months. However the City did pay $36,823 for some architect, engineering and legal costs associated with the new city hall.