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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of City Council <br /> <br />FROM: Brenda Malinowski, Finance Director <br /> DATE: May 1, 2019 <br /> RE: 2019 1st Quarter Financial Report <br /> <br /> <br />INTRODUCTION: <br />Attached is the General Fund Financial Report for the 1st Quarter 2019 with comparison <br />information for the 1st Quarter 2018. The revenues and expenditures for the 1st quarter have <br />positive results and are tracking within the 2019 Adopted Budget. <br /> <br />General Fund Revenue <br />Since property tax collections are not received until July and December each year, only 6.64% of <br />the budgeted revenue has been collected through the 1st quarter of 2019. However, this 6.64% is <br />higher than past years due to the receipt a significant building permit in March. Historically, the <br />General Fund 1st quarter budget revenue has been at 4.33% and below. The 1st quarter 2019 is at <br />6.64%. This is a positive result. <br /> <br /> <br />YTD Revenues to Budget <br />Permit revenue for the 1st Quarter is at 100.48% of the permit revenue for 2019 due to the receipt <br />of the significant building permit in March. <br /> <br />2019 Revenues Compared to 2018 Revenues <br />2019 YTD revenues are consistent with 2018 YTD revenues with the exception of the Permit <br />revenue (explained above). <br /> <br /> <br /> <br />4.33% <br />3.92% <br />3.87%3.12% <br />6.64% <br />0.00% <br />1.00% <br />2.00% <br />3.00% <br />4.00% <br />5.00% <br />6.00% <br />7.00% <br />2015 2016 2017 2018 2019 <br />% of Revenue to Budget