04-24-2024 Council Packet - Laserfiche WebLink

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Intergovernmental Revenue includes Municipal State Aid (MSA) as well as Local Governmental Aid (LGA). The LGA Budget for 2024 is significantly higher at $164,115 versus the 2023 budget at $44,184. There were no LGA revenues collected in Q1. The first half of MSA aid is typically paid in Q1 and has been collected. The Miscellaneous Revenues includes the Sherif’s credit, Falcon Heights Inspection reimbursement. Further, the 2024 budget also includes the one-time Police Aid for $471,111. The Police Aid revenue was collected in Q4 of 2023. Minimal activity within this category to date 0.76% or $4,881. General Fund Expenditures As of March 31st, actual expenditures are at 19.75% of the budget and are comparable with prior years. Highlights: •The Parks & Recreation Department is trending lower at 14.57%. The department has been operating one full-time staff short since January, resulting in lower personnel cost expenditures. •The Fire Department is at 22.28% of the budget in 2024 and includes Q1 payment for contracted services, whereas 2023 includes Q1 and Q2 payments. Timing of payments can vary based on council meeting schedule and invoicing. 2024 Q2 payment was remitted in April. •Northeast Youth & Family Services contract is paid once per year, so Community Partnerships are at 78.09% of the budget. This is consistent with prior years. •Street Lighting is trending higher at 24.89% in 2023 when compared to 7.74% in 2024. The increase relates primarily to electricity cost increases that impacted the City beginning with Q3 and Q4 of 2022. Special Revenue and Enterprise Funds The Quarterly Financial Report for the special revenue and enterprise funds is attached to this report. All funds fell within the expected budget amounts. 25.02%23.34%24.50%24.54%19.75% 0.00% 20.00% 40.00% 60.00% 80.00% 100.00% 120.00% 2020 2021 2022 2023 2024 % of Expenditures to Budget