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4. Intergovernmental The budget for intergovernmental revenues includes $280,000 of Market Value Homestead Credit (MVHC) and $280,000 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 and 50% at the end of the year. Police and Fire Aid are received in a lump sum in October. Year-to-date revenues for this category are $70,922 compared to $102,350 last year. 5. Charges for Services Included in this category are the following: . License Bureau - Year-to-date revenues are $39,762 compared to $33,402 last year at this time. . Xce\ Energy Franchise Fees - Year-to-date revenues are $101,073 compared to $116,309 for the first quarter last year. . Recreation programs - First quarter revenues are $62,346 for 2006 compared to $53,482 for 2005. 6. Interest Investment earnings are allocated on a quarterly basis. The first quarter's allocation will be recorded in ApriL General Fund Expenditures 7. With 25% of the year gone, 20.5% of the total budgeted appropriations have been utilized. As of the first quarter last year, 17.5% of the total budgeted appropriations had been utilized. Expenditures are not always uniform 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. I have no concerns at this time in this area. Water Fund 8. The revenues reflect the utility billings for the first 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 $231,073 (18.2% of budget) compared to last year of$193,712 (13.6% of budget). Sewer Fund 9. Revenues are similar to last year. The contractual services budget line includes payments to MCES for sanitary sewer treatment. The annual budget for this is $1,127,300. Stormwater Mana2ement Fund 10. Revenues are ahead of last year as a result of the increase in rates, First quarter revenues are $175,282 for 2006 compared to $139,634 for 2005. Street Li2ht Fund 11. Revenues are very similar to last year at this time. Golf Course Fund 12. Not much activity in this operation, as expected for the first quarter. If you have any questions or concerns, please feel free to contact me. Recommendation: I recommend that the City Council accept the First Quarter 2006 Financial Statements. Page 2 0[2 G;\BUDGET\2006\IQtr 2006 FS CC Report,doc