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STAFF REPORT <br />TO: Mayor Keis and Members of the City Council <br />FROM: Brenda Malinowski, Finance Director <br />DATE: August 6, 2019 <br />RE: 2019 2nd Quarter Financial Report <br />INTRODUCTION: <br />Attached is the General Fund Financial Report for the 2nd Quarter with comparison information <br />for the 2nd Quarter 2018. The revenues and expenditures continue to have positive results and are <br />tracking within the parameters of the 2019 Adopted Budget. <br />General Fund Revenue <br />The 1st half of property tax collections were not received until July 5th but were accrued back into <br />the 2nd Quarter to reflect more realistic budget to actual amounts. <br />Highlights: <br />•1st half property taxes were accrued back into the 2nd quarter. The collection rate <br />for the 1st half was at 51.07% of the 2019 certified levy. <br />•Permit revenue is at 138.09% of the budget amount. <br />•Charges for services are lower than 2018 due to the park shelter rentals at <br />Spooner Park. Reservation availability was limited on purpose to allow for the <br />Spooner Park Improvements. <br />•Intergovernmental revenue is at only 27.82% of the budget due to the timing of <br />intergovernmental revenues. Local Governmental Aid (LGA) is received in July <br />and December. This is consistent with prior years.