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FINANCE DFPAR'I':R1F.N':I'
DATE: NOVEMBER 2, 2012
TO: MICHAEL R. COUZZO, VILLAGE MANAGER
FROM: JOANN FORSYTHE, FINANCE DIRECTOR
RE: NOVEMBER 2012 - REVENUE & EXPENDITURES - UPDATE
Below is an update of the Revenue & Expenditures by Fund as of November 2, 2012:
GENERAL FUND #001
Revenues:
Overall revenues are as expected. Some items to note:
• The first installment of Ad Valorem Ta�ces are expected November 8th
• Sales and local gas taxes are expected the end of November
• Parking Tickets - trending higher than budgeted (20% at 8.3% of the year)
• Code Enforcement Fines - trending higher than budgeted (30.4% at 8.3% of the year)
• Contributions and Donations (Leisure Services) were budgeted at $7,000 while actual to date is
$8,100.
• The interfund transfers
o That is budgeted between the Capital Improvement fund, the Capital Projects fund and the
General Fund will be made at the end of the month.
o The budgeted interfund transfer between the Special Law Enforcement Trust and the
General Fund will be made after the Police Chiefls request from the Village Council is
approved.
Expenditures:
Expenditures appear as expected, however,
• Health Insurance premium to be paid on Monday — there were corrections that Cigna needed to
make that have been resolved.
• There are a number of purchase orders that have been rolled-forward that have not been funded
and these PO's affect the budget-to-actual percentage. Funding of these purchase orders are going
before the Village Council at the November 8�' meeting, at which time the amounts will be funded
or the purchase orders will be cancelled.
11/2/124:56 PM
There has been no activitv in the Ca itp al Improvement Fund #301 or the Capital Projects Fund #303
WATER UTILITY FUND #401
Revenues:
• At this time we do not have a full month of water revenues recorded. However, usage appears to be
in line with the budgeted projections.
• Capital connect charges — Developer — are higher than expected (71.1% received in the October)
Expenditures:
• Same explanation as above for the General Fund #001
Refuse and Recycling Fund #402
Revenues: First installment of non-ad valorem taxes are scheduled for November 8, 2012.
Stormwater Fund #403
Revenues: First installment of non-ad valorem taxes are scheduled for November 8, 2012.
Expenditures:
• Stormwater has $215,041 of unfunded drainage improvements that are part of the roll-forward
encumbrances from the prior year that are going before the Village Council for approval at the
November 8`�' meeting. At this time none of the funds have been spent.
Confidential 2