03-24-1997 Council Packet - Laserfiche WebLink

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1 '■f. %REQUEST FOR COUNCIL ACTION ' DATE: Mar 20,1997 ITEM NO: j ^ Department Approval^-—. Name: Chris Miller Title: Asst. Finance Director Administrator Reviewed: Agenda Section: City Administrator's Report Year-end Revenue and Exy^enditure Report Attached is a preliminary (unaudited) financial summary of General Fund revenues and expenditures for 1996. The figures presented below and on the attached documents are considered unaudited as they have not been reviewed by the City ’s Auditors. The audit is scheduled to take place in April, with the final published financial statements to be made available in May. The designation of'unaudited' is also used to provide for the pending budget amendments that will be presented to the Council at the first meeting in April. General Fund Revenues The 1996 budgeted revenues in the General Fund were $3,347,755. ITie preliminary actual revenues realized were $3,472,643. This is an increase of $124.888 over budgeted revenue forecasts. A number of factors have contributed to this budget surplus, and are noted below. * Building activity in the city exceeding projections. This includes new home construction, as well as reconstructions and additions to existing homes. This increased activity has led to higher permit revenues, resulting in the receipt of approximately $18,000 in excess of budgeted permit revenues. Intergovernmental revenues were approximately $10,000 higher than expected. This is due to receiving $8,000 in unanticipated Police State Aid, and $2,000 in our sha^e of the Recycling Grant. The revenues the city receives for charging out services also exceeded expectations. The increased building activity in the city has led to the collection of $16,850 of unanticipated revenues for plan reviews and land use applications. In addition, increased inspections for contract cities, and contracted police security work, produced an additional $12,000 and $16,000 respectively, in excess of budgeted revenues. 1