10-13-2025 - Agenda Packet City Council - Regular Meeting

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Second Quarter Financial Report July 14, 2025 due to the payout of the Orono Fire Relief Association pension. Special Services is at 98% due to more bill -through invoices which is offset by the revenue received for the services. All other departments are trending below or at budget. At this time, it is anticipated that General Fund expenditures will be below or at budget. Enterprise Fund The Enterprise Funds includes the following: Water, Sewer, Recycling, Golf Course, Cable, and Stormwater Funds. Water Fund revenue is at 62.3% and expenditure is at 70.3% of budget. Water Fund revenue is not seeing as much return as consumption have seen a decreased over the years. This summer's water usage was also lower than anticipated due to having rainy months. Sewer Fund revenue is at 74.3% and expenditure is at 72.4% of budget which is on track; Stormwater Fund revenue is at 76.8% and expenditure is at 80.9% of budget; Recycling Fund revenue is at 71.5% and expenditure is at 79.2% of budget. These funds are on track and are approximately around the current earmark of 75%. Golf Course Fund revenue is at 92.1% and expenditure is at 79.5% of budget. Golf course opened in April with the season coming to an end. Cable Franchise Fund revenue is at 38% and expenditure is at 92.6% of budget. Franchise fee makes up the revenue in the Cable Franchise Fund with third quarter fees to be received in October. Cable usage is down from year prior causing the shortfall in revenue. In terms of expenditure, cable fund pays for Council streaming and agenda management software in the first half of the year. Remaining expenditure is minimal for the remainder of the year. Enterprise Funds are financed and operated from the fees and charges designed to cover its cost, which includes potential years of net loss or any future improvements needed to maintain and sustain the systems. Internal Service Funds Internal Service Funds includes: Fleet, Insurance, and IT Funds. Fleet Fund revenue is currently at 86.9% with expenditures at 78.3%. Revenue includes transfers in and passthrough charges to other governmental entities for work performed, offset by the cost of the repairs on the expenditure budget. Expenditure overage of $40,000 is anticipated in vehicle equipment and parts, approved at the July 28, 2025 council meeting. The overage approved is not accounted for within the budgeted amount. Insurance Fund revenue is at 85.3% with expenditures at 107.8%. Revenue consists of transfers in from each department for its share of insurance costs, along with reimbursement for claims. Page 2 of 3 114