HomeMy WebLinkAbout2011-11-02 PACKET 04.D.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 11/2/2011
a
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
COUNCIL ACTION REQUEST
Receive 3rd Quarter Financial Report.
STAFF RECOMMENDATION
Receive report.
SUPPORTING DOCUMENTS
® MEMO /LETTER: Memo from Robin Roland.
❑ RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
® OTHER: Attachment.
ADMINISTRATORS COMMENTS
City Administrator f
COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER
Document2
(= City of Cottage Grove
Finance Department
TO: Honorable Mayor and City Council
Ryan Schroeder, City Administrator
FROM: Robin Roland, Finance Director .
DATE: November 2, 2011
RE: September 30, 2011 Financial Report
1 - •
Introduction
Attached are financial reports giving budget to actual analysis for the General Fund, Special
Revenue and Enterprise funds for the nine months ended September 30, 2011 with
comparison data for the same period in 2010.
Discussion
General Fund
The budget to actual analysis is presented with Revenues by type and Expenditures by
division.
Total revenues are significantly less than 75% received for the year, as the first half property
tax settlement from the County came the first week in July but the second half won't come until
December. Other revenue sources including permits and charges for services are closer to or
exceed the 75% expected; intergovernmental revenues reflect due police and fire aid being
received on September 30th.
Total General Fund expenditures are at 72.7% through September 30` 2.3% less than the
expected 75 %. The "% of budget" column should be used to evaluate how each division is
doing at three quarter point of the year. Some divisions, such as Legal /Assessing and Pool
may be at or above the 75% due to fees or charges which are paid in full for the entire year in
a lump sum early on (and not amortized each month) or in the case of the pool, due to the
seasonal nature of the operation. All wage and benefit allocations have been completed
through the third quarter of the year.
Special Revenue Funds
The Special Revenue Funds are presented as total revenues by fund and total expenditures by
fund, exclusive of transfers in or out.
Honorable Mayor, City Council, and Ryan Schroeder
Page 2 of 2
Enterprise Funds
The Enterprise Funds are presented as total revenues by fund and total expenditures by fund,
exclusive of transfers in or out.
Enterprise funds are less volatile than Special Revenue funds and because they do not
depend on property taxes as a source of revenue, the assumption can be made that the
percentage of revenues received and expenditures expended should be closely related to the
percentage of time elapsed in the year. The only exception to this would be the Golf Course
fund which is of a more seasonal nature.
More detailed information on any of the funds operations is available from the Finance
department upon request.
Requested Action
For information only.
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