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2012_1022_packet
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License Center Fund Summary <br />, The following table depicts the 2012 financial activity for the License Center Fund for the fiscal period <br />� ending September, 2012 (unaudited). <br />Revenues <br />Charges for services <br />Miscellaneous <br />Total Revenues <br />2012 2012 % % <br />Bud�et Actual Actual Expect• Diff. <br />$ 1,130,525 $ 881,167 77.9% 60.6% 17.3% <br />- - n/a n/a n/a <br />$ 1,130,525 $ 881,167 77.9% 60.6% 17.3% <br />Expenditures <br />License Center operations 1,130,525 747,592 66.1% 63.3% 2.9% <br />Other - - n/a n/a n/a <br />Total Expenditures $ 1,130,525 $ 747,592 66.1% 63.3% 2.9% <br />Comments: <br />License Center Fund revenues and expenditures are higher than expected. The overall volume of activity <br />has steadily increased during the past nine months. While this allows for the capture of added revenues, it <br />also necessitates an increase in hours worked by part-time staff. <br />The License Center Fund is currently in excellent financial condition with a cash reserve of $598,000 or <br />59% of the annual operating budget. However the City needs to stay cognizant of increased competition <br />from other area licensing centers, as well as new federal or state mandates that could result in higher <br />operating costs. <br />Based on current trends, it appears that a surplus will be realized in 2012. <br />Page 8 of 13 <br />
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