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42 43 Community Development Fund – Revenues are currently tracking better than anticipated. However, 44 there is some seasonality in the various permits issued by Community Development. Expenditures are 45 tracking less than anticipated, but several expenditures will occur later in the year. 46 47 Communications Fund Summary – Cable franchise fees are the largest revenue source for this 48 fund. Franchise fees are received a month after the end of the quarter, so there is a lag until year-end, 49 when we record accruals. Expenditures are below 50% as North Suburban Cable Commission issues 50 bills after the franchise fees are collected, so there is a lag here until year-end when accruals are 51 recorded. 52 53 License Center Fund Summary – The License Center revenues are tracking slightly above the 54 benchmark and expenditures are tracking at 50%. If this trend continues, this fund should end the year 55 above the approved reserve level range of 10-15%. 56 57 Sanitary Sewer Fund Summary – The Sanitary Sewer Fund revenues and expenditures are near 58 expected levels. The vehicle purchased is skewing the capital outlay percentage at this point in time. 59 60 Water Fund Summary –Water Fund revenues and expenditures are near expected levels. The majority 61 of January and February invoices are booked back to 2024 as the water was used in 2024. Revenues 62 smooth out at year-end when accruals are posted. Expenditures can fluctuate during the year based on 63 water consumption. Expenditures are slightly lower due to only five months of St. Paul Regional Water 64 invoices paid through June 30, 2025. Capital expenditures and transfers will occur later in the year. 65 66 Storm Sewer Fund Summary – Storm Sewer Fund revenues and expenditures are near expected 67 levels based on the prior two years. Capital expenditures and transfers will occur later in the year. 68 69 Environment Fund Summary –The Environmental Fund revenues are running a bit below expected 70 due to the County grant not being received as of June 30, which is consistent with prior 71 years. Expenditures are slightly higher than 50% due to the purchase of carts in the first part of the 72 year. 73 74 Golf Course Fund Summary – The golf course activity is seasonal in nature, which impacts both the 75 revenues and the expenditures in this fund. The revenues are running ahead of projections based on 76 the prior two years. 77 78 The City’s overall financial condition remains strong, and the Finance Department has not noted any 79 unexpected variances in the operating funds for the second quarter of 2025. Variances that have 80 occurred are noted and explained in the attached financial report. There are no budget adjustments 81 necessary at this point in time. 82 83 Policy Objectives 84 The information presented above satisfies the reporting requirements in the City’s Operating Budget 85 Policy. 86 87 Equity Impact Summary 88 There is no equity impact. 89 90 Budget Implications 91 Not applicable. 92 93 Staff Recommendations 94 Not applicable. 95 Page 2 of 3 Qbhf!229!pg!286