Laserfiche WebLink
MEMORANDUM <br />Date: <br />October 12,.2015 <br />To: <br />Mayor and City Council <br />From: <br />Tom Kelly, Treasurer <br />Re: Third Quarter 2015 Financial Report <br />With the third quarter safely- behind us already. The. City's revenues are #or the most part above <br />expectations and expend'€tares are where they should be at this point in time or a little below; <br />The key to the City's finances are that even though we are 75°/o. through the year, revenues and <br />expenditures don't flow evenly though the year. All debt payments have been made so. debt <br />service expenditures are 100% spent, but snow plowing/sanding expenditures have not yet <br />started for the end of the year so general fund is under budget. Below is a chart comparing; <br />budget to actual revenue and expenditures for the years 2014 and 2015. <br />Revenues <br />2014 <br />.2014. <br />% <br />2015 <br />2015 <br />% <br />Budget <br />Actual <br />Received <br />Budget <br />Actual <br />Received <br />General Fund <br />232, 016.00 <br />171,922.25 <br />74.1045 <br />251, 932:00 <br />191, 240.35. <br />7191% <br />Special Revenue Fds. <br />515:00. <br />454.87 <br />88.32%. <br />615.00 <br />286.12 <br />46.52% <br />Debt Service Funds <br />110,227.00 <br />$5,541.26 <br />50:39% <br />94,081.00 <br />46,3.56..71. <br />49.27% <br />Capital Project Funds <br />181832.00 <br />8,973.85 <br />47.65% <br />2,205.00 <br />810.68 <br />36.77°% <br />Enterprise Funds <br />48,555.00 <br />45,540.94... <br />93.79% <br />49,943.00 <br />58,454.13 <br />117.04% <br />Total <br />410,145.00 <br />2VZ 433.07 <br />68.06% <br />398,776.00 <br />297,147.99 <br />74.52% <br />Expenditures <br />2014 <br />:20.14 <br />% <br />2015 <br />2015 <br />Budget <br />Actual <br />Spent _ <br />Budget <br />Actual <br />Spent <br />General Fund <br />316,133.00 <br />,248,215.18 <br />78,52% <br />331,932.00 <br />226 247.24 <br />68.16% <br />Special Revenue Fds. <br />0.00 <br />0.00 <br />0.00% <br />0:00 <br />0.00 <br />0,00% <br />Debt Service Funds <br />48,505.00 <br />.4.8,505.00. <br />100.00%.. <br />47,905.:00 <br />78,932.50 <br />164.77% <br />Capital Project Funds <br />819W 00 <br />66,22.0.56 <br />744,05% <br />70,500.00 <br />75,431.56 <br />107,00% <br />Enterprise: Funds <br />54;738.0.0 <br />.23,899:37 <br />43:66% <br />59,481.00 <br />25,342.09 <br />42,61% <br />Total <br />428,276.00 <br />386,W.11 <br />90.3296 <br />509;818,00 <br />405,953.39 <br />79:63% <br />ltshould be noted that the budget amounts. are for the fiscal year and the actual is year to date <br />actual revenues collected of funds spent. The rest of the report will detail the revenues and <br />expenditures of each of five fund types. <br />GENEARL FUND <br />For the third quarter, revenues are still above budget projections and expenditures are slightly <br />below budget, which is show in future charts. However the chart on the following page shows <br />how revenues are just slightly below expenditures levels for the first three quarters of the:year <br />which is due to the second half property tax payment not being received until December. Also <br />one can see how the City depends on reserves (cash balances) until that tax payments are <br />received: <br />