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CITY OF LITTLE CANADAGENERAL FUND QUARTERLY FINANCIAL REPORTTHROUGH JUNE 30, 2024 WITH COMPARISON TO JUNE 30, 2023General FundBudget YTD % of Budget Budget YTD % of BudgetHighlights/CommentsRevenues:Taxes 4,088,523 1,981,354 48.46% 3,786,436 1,997,216 52.75%Tax revenues are paid in 3 instalments (June/ July, October/November and a final settlement in January of the following year). In 2024 we received a partial payment in June whereas in 2023 we received first settlement in July.Licenses 54,500 12,380 22.72% 54,880 9,770 17.80%Comparable with PY, historically collected in Q2 and Q3Liquor Licenses 47,000 46,622 99.20% 47,162 45,753 97.01%Comparable with PY, historically collected in Q2 and Q3Permits 315,962 256,468 81.17% 304,360 243,119 79.88% Pioneer Commons 1st addition in 2024 permits Charges for Services 30,804 17,557 57.00% 28,639 17,018 59.42%Comparable with PYFines 42,000 14,981 35.67% 40,000 13,924 34.81%County Fines. This revenue can very. Budget is an estimate based on historical trendsIntergovernmental Revenue 404,136 75,250 18.62% 275,478 68,795 24.97%First Distribution of MSA funds, comparable with PY. Further higher budget for LGA in 2024 than 2023, no payments collectedInvestment Income 34,000 0 0.00% 23,800 0 0.00%Will be allocated at year endMiscellaneous 642,755 53,005 8.25% 185,265 140,324 75.74%Sherifs credit and Falcon Heights Inspection collected in Q2. 2024 Budget also includes the one time Police Aid for $471,111. This revenue was collected in 2023 Q4. Further, in 2023 there was a passthrough transaction from State to Developer. Transfers In98,155- 0.00% 109,134- 0.00%Transfers done at year endTotal Revenues5,757,835 2,457,617 42.68% 4,855,154 2,535,918 52.23%ExpendituresMayor & Council108,280 55,935 51.66%99,589 51,819 52.03%Comparable with PY, within expectationsElections33,000 18,752 56.82%33,000 17,440 52.85%Comparable with PY, within expectationsAdministration552,227 218,910 39.64% 393,558 127,212 32.32%Comparable with PY, within expectationsAttorney101,000 38,627 38.24%95,500 33,965 35.57%Comparable with PY, within expectationsEngineer34,850 10,906 31.29%31,100 13,534 43.52%Timing of Engineering Cost can vary based on timing of projects and needed servicesPlanning192,229 91,797 47.75% 190,108 87,849 46.21%Comparable with PY, within expectationsInsurance51,149 12,787 25.00%45,390 22,695 50.00%Need to post the Quarterly Insurance Allocation for Q2City Center37,704 13,941 36.98%38,800 16,599 42.78%Lower utilities costs in 2024, mild winter beginning of the year.Old Fire Hall12,562 3,981 31.69%10,600 7,851 74.07%Lower utilities costs in 2024, mild winter beginning of the year as well as repairs and maintenance were heigher in 2023 for Boiler RepairsPolice 2,518,703 689,063 27.36% 1,894,299 927,891 48.98%Trending within Expectation. The 2024 Budget includes Spending the Police Aid 471K, not yet spentFire Department555,958 372,504 67.00% 523,840 348,390 66.51%Comparable with PY, within expectationsFire Marshal16,430 8,707 53.00%15,950 8,334 52.25%Comparable with PY, within expectationsProtective Inspections284,520 158,619 55.75% 282,166 128,973 45.71%Open Gov/Permits Software in 2024 payment Emergency Service/Civil Defense3,895258 6.63%3,895932 23.92%Comparable with PY, within expectationsAnimal Control3,370251 7.45%3,370214 6.35%Comparable with PY, within expectationsStreets381,550 174,526 45.74% 376,458 158,478 42.10%Jim Mayer CDL School and 42K in Salt in 2024 purchaseStorm Water080 #DIV/0!19,990 1,394 6.97%Street Lighting71,630 28,566 39.88%71,630 35,833 50.03%Timing for June 2024 Payment paid in July rather than JuneRecycling/Sanitation36,390 14,680 40.34%32,140 14,963 46.55%Comparable with PY, within expectationsCity Garage52,060 25,095 48.20%49,669 27,665 55.70%Comparable with PY, within expectationsParks & Recreation722,293 248,977 34.47% 579,338 263,140 45.42%Lower cost in 2024 for personnel due to director position turnover Community Partnerships33,035 25,798 78.09%29,764 23,214 77.99%Comparable with PY, within expectationsShade Trees40,000 4,445 11.11%20,000 27,736 138.68%Removed trees EABTransfers Out00 #DIV/0!00 #DIV/0!Contingency15,000- 0.00%15,000- 0.00%Total Expenditures5,857,835 2,217,206 37.85% 4,855,154 2,346,120 48.32%Rev. over/(under) expenditures(100,000) 240,411 - 189,797 20242023
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