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<br />. <br /> <br />. <br /> <br />. <br /> <br />I~ <br /> <br /> <br />Re ort Number: <br />A enda Section: <br />Re ort Date <br />Council Meetin <br /> <br />October 12, 2006 <br />Date October 24, 2006 <br /> <br />the city that works {or you <br /> <br />REQUEST FOR COUNCIL CONSIDERATION <br /> <br />ITEM DESCRIPTION: Acceptance of Interim Financial Statements for the Third Quarter of <br />2006 <br /> <br />DEPARTMENT HEAD'S APPROVAL: <br /> <br />CITY MANAGER'S APPROVAL: <br /> <br />No comments to su lement this re <br /> <br /> <br />Recommendation: I recommend that the City Council accept the Third Quarter 2006 Interim Financial <br />Statements. <br /> <br />Explanation: Attached are interim financial statements for the third quarter operations of our General, <br />Water, Sewer, Stormwater, Street Light, and Golf Course Funds. These interim financial statements of <br />revenues and expenditures/expenses are intended to illustrate how our operations are progressing <br />financially during the year. <br /> <br />The following are noteworthy items as of the end of the third quarter: <br /> <br />General Fund Revenues <br />1. Taxes <br />In June, we received an advance on the first half tax settlement. The remainder of the first half <br />settlement was received in July. The second half settlement will not be received until December. <br /> <br />2. Permits <br />Permits revenue is running significantly ahead oflast year's pace. Last year at this time revenues <br />were $306,174 for permits compared to $431,837 this year. This represents 86.4% of the annual <br />budgeted amount. <br /> <br />3. Fines and Fees <br />Fines are received from Ramsey County one month in arrears. The third quarter reflects fines <br />received through August. Year-to-date revenues for this category are $44,470 (63.5% of the budget) <br />compared to $41,270 last year. <br /> <br />4. Intergovernmental <br />The budget for intergovernmental revenues includes $280,000 of Police and Fire Aid from the State. <br />Year-to-date revenues for this category are $630,509 compared to $315,401 last year. Last year at <br />this time we had not received the Police and Fire State Aids. <br /> <br />5. Charges for Services <br />Included in this category are the following: <br /> <br />. License Bureau - year-to-date revenues are $113,198 compared to $116,521 last year at this time. <br />. Xcel Energy Franchise Fees - year-to-date revenues are $315,548 compared to $335,131 as ofthe <br />third quarter last year. <br />. Cable franchise fees - $93,290 year-to-date, compared to $87,056 last year. <br />