CCP 09-25-2007 - Laserfiche WebLink

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4. Intergovernmental The budget for intergovernmental revenues includes $240,000 of Market Value Homestead Credit (MVHC) and $310,500 of Police and Fire Aid from the State. The timing for receipt of MVHC is similar to property taxes. It is distributed 50% halfway through the year (early July) and 50% at the end of the year. Police ($190,500 budgeted for 2007) and Fire Aid ($120,000 in 2007 budget) are received in a lump sum in October. Year-to-date Intergovernmental revenues are $118,045 compared to $211,498 last year. The difference is in 2006 we had received Public Safety grants of $86,200. 5. Charges for Services Some of the anticipated revenues included in this category are as follows: • License Bureau - Year-to-date revenues are $73,556 (52.4% of annual budget) compared to $80,674 last year at this time. • Xcel Energy Franchise Fees - Year-to-date revenues are $233,405 compared to $210,571 for the second quarter last year. • Recreation programs - Second quarter revenues are $243,963 for 2007 compared to $211,988 for 2006. • FSC Memberships & Daily Passes - $225,231 in the second quarter (46.0% of the annual budget) compared to $230,380 in the second quarter last year. 6. Interest Investment earnings are allocated on a quarterly basis. The second quarter's allocation will be recorded in July. Year to date the revenue for interest earnings is $48,176, or 48.2% of the budget. General Fund Expenditures 7. With 50% of the year gone, 45.3% of the total budgeted appropriations have been utilized. Expenditures are not always incurred in a uniform manner throughout the year. For example, almost the entire amount budgeted in Administration for subscriptions and memberships has been expended. This is expected since they are billed annually at the beginning of the year. Overall, each department/division's percentages are very close to 50% or less. I have no concerns at this time in this area. During the annual budgeting process each department projects year-end results for their respective operations. As of June 30t", the overall projections for revenues were very similar to the budget; however, there may be year-end savings in expenditures. Savings are projected in personnel from Assistant to the City Manager position vacancy and reclassification, Sanitarian position vacancy and restructuring, reducing the Comprehensive Plan updating effort, and temporary vacancies in the Police department. The net savings projected as of June 30 are estimated to be about $198,000. Water Fund. 8. The revenues reflect the utility billings for the second quarter. Our utility customers are billed on a quarterly basis, with each of our three billing districts being billed every three months. Year-to-date revenues are $436,567 (27.0% of budget) compared to last year of $457,659. Expenses are 49.0% of budget. Revenues are expected to increase for the summer months as a result of more watering of lawns due to the dry weather. • Page 2 of 3