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37 received from Ramsey County in June. State Aids are received in May, September and 38 October. As a result, first quarter revenues are only at 4%. Expenditures are trending 39 below the benchmark as several cost areas are paid out in the later part of the year as 40 footnoted on the report. However, expenditures at this point in time are consistent with the 41 prior two years. 42 43 Parks and Recreation Fund Summary – Revenues are running slightly ahead of 25%, 44 this is due to several park building rentals reserved at the beginning of the year and 45 program participation reserved in advance of the various programs. As these programs are 46 seasonal, the expenditures are tracking below 25% as many of the programs are operated 47 in the summer and fall. 48 49 Information Technology Fund Summary – Antennae lease payments are on target for 50 this point in time. This fund is being merged with the general fund as part of the 2024 51 budget process. The transfer is to the general fund based on revenues collected through 52 March 31, 2024. 53 54 Community Development Fund – Revenues are currently tracking better than anticipated, 55 however, there is some seasonality in the various permits issued by Community 56 Development. Expenditures are tracking less than anticipated, but several expenditures 57 occur later in the year. 58 59 Communications Fund Summary – Cable franchise fees are the largest revenue source 60 for this fund. Franchise fees are received a month after the end of the quarter so there is a 61 lag until year end when we record accruals. Expenditures are below 25% as North 62 Suburban Cable Commission has not billed the city for their services in 2024. 63 64 License Center Fund Summary – The License Center revenues are on point and 65 expenditures are tracking slightly below the benchmark. If this trend continues this fund 66 should end the year above the approved reserve level range of 10-15%. 67 68 Sanitary Sewer Fund Summary – The Sanitary Sewer Fund revenues and expenditures 69 are near expected levels. Capital expenditures and transfer out will occur later in the 70 year. Expenditures are tracking slightly higher as we have four months of MCES charges 71 paid through March 31. Capital expenditures and transfer out will occur later in the year. 72 73 Water Fund Summary –Water Fund revenues and expenditures are near expected 74 levels. Expenditures can fluctuate during the year based on water consumption. The first 75 quarter is historically low as this is the winter quarter where little to no external water is 76 used. Expenditures are slightly lower due to only two months of St. Paul Regional Water 77 invoices paid through March 31, 2024. Capital expenditures and transfer out will occur 78 later in the year. 79 80 Storm Sewer Fund Summary – Storm Sewer Fund revenues and expenditures are near 81 expected levels based on the prior two years. Capital expenditures and transfer out will 82 occur later in the year. 83 84 Environment Fund Summary –The Environmental Fund revenues and expenditures are 85 near expected levels. They are consistent with prior years. Page 2 of 4 Qbhf!311!pg!494