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CITY OF LITTLE CANADA, MINNESOTA <br />MANAGEMENT’S DISCUSSION AND ANALYSIS <br />YEAR ENDED DECEMBER 31, 2022 <br /> <br /> <br /> <br />(22) <br /> <br />General Fund <br />There were not any adjustments to the Original Budget. <br /> <br />The actual results were different than the final budget amounts. Large differences are as follows: <br /> <br />x Total General Fund revenues exceeded the budget by $274,470. The biggest budget variances <br />for revenue categories were within Property Taxes ($79,155), License and Permits ($239,224) <br />and MSA funds ($27,473). <br />o Property Taxes were $79,155 greater than anticipated property tax collections due to a <br />higher collection rate than budgeted. Since the City exercises a conservative budget <br />approach, a 97.5% collection rate is used for budgeting property taxes, but the City <br />experienced a 99.52% collection rate for 2022. <br />o Licenses and Permits were $239,224 greater than budget, primarily due to an increased <br />number of permits issued for new development projects (Twin Lake) and increased <br />roofing and siding permits due to hailstorms. <br />o Rents and Refunds were less than the budget by $17,579 since the sheriff’s <br />reimbursement was lower than budget by $21,710. <br />Total General Fund Expenditures were under budget by $69,795. The biggest positive budget variance <br />for expenditure categories was in General Government, due to lower than anticipated costs for <br />attorneys ($14,558) and planning and zoning ($13,134). Public Works also had a positive budget <br />variance of $9,221, primarily related to lower street maintenance costs of $20,296. Part of this variance <br />was offset by higher costs for the City Garage of $11,257 (increase costs in utilities).