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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of the City Council <br /> <br />FROM: Brenda Malinowski, Finance Director <br /> DATE: February 19,2020 <br /> RE: 2019 4th Quarter Financial Report <br /> <br /> <br />INTRODUCTION: <br />Attached is the General Fund Financial Report for the 4th Quarter with comparison information <br />for the 4th Quarter 2018. The General Fund continues to see very positive results for 2019. The 4th <br />quarter information may change slightly from this report as staff finalizes financial transactions <br />for the preparation of the 2019 CAFR (Comprehensive Annual Financial Report). In addition, <br />year-end accrual adjustments are not reflected in this report in order to demonstrate budget to <br />actual results. <br /> <br />General Fund Revenue <br />2019 revenue is expected to exceed the 2019 Budget by 108.86% ($346,620). During the last five <br />years, 2019 has the highest percentage of revenue collected through the 4th quarter except for <br />2016. Significant building permit revenue was also received in 2016 when Cardigan Ridge was <br />constructed. <br /> <br /> <br /> <br />Highlights: <br />• Permit revenue is at 259.33% of the budget amount. <br />• 2019 Miscellaneous revenue includes the 2018 sheriff’s credit ($131,559) that was <br />not received until September of this year. It was delayed to allow time for decisions <br />to be finalized regarding the purchase of capital equipment including body cameras