CCP 11-13-2012 - Laserfiche WebLink

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Ile& Report Number 12-258 Agenda Section VI-4 the city that works for you Council Meeting Date November 13,2012 REQUEST FOR COUNCIL CONSIDERATION ITEM DESCRIPTION: Acceptance of Interim Financial Statements for the Third Quarter of 2012 DEPARTMENT HEAD'S APPROVAL: CITY MANAGER'S APPROVAL: No comments to supplement this report/4/ Comments attached Recommendation: I recommend the C'►'� 'uncil accept the third quarter 2012 Interim Financial Statements. Explanation: Attached are the third quarter interim financial statements for the operations of our General, Water, Sewer, Stormwater, Street Light, and Golf Course Funds. These interim financial statements of revenues and expenditures/expenses are intended to illustrate how our operations are progressing financially at this point in the year. General Fund The following are noteworthy items as of September 30, 2012, and where each department projects their respective revenues and expenditures to be at the end the year: Revenues 1. Taxes Property tax revenues were$3,703,574 year-to-date as of the end of the third quarter. We continue to monitor the collection rate. The collection rate of current taxes for the first half of 2012 was strong. The projection for the year-end total for this revenue source is that the budget will be met. 2. Licenses It is assumed that very little more revenue will be received in this category for the remainder of 2012. Year-to-date revenues are$130,246, compared to$122,694 last year at this time. Year-end projections are for a positive budget variance of$8,200. 3. Permits Year-to-date revenues for building permits are $259,153 (70.3% of the total anticipated budget) compared to $395,740 last year at this time. Current projections for building permit revenues for the year are $345,400, an unfavorable variance from budget of($23,100).