Laserfiche WebLink
STAFF REPORT <br />TO: Mayor Fischer and Members of the City Council <br />FROM: Sam Magureanu, Finance Director <br />DATE: April 23, 2025 <br />RE: 2025 1st Quarter Financial Reports <br />INTRODUCTION: <br />Attached are the 2025 1st Quarter Financial Reports for the City of Little Canada. <br />Please note that each year staff is planning to have Q1 and Q3 financials as consent agenda items <br />(typically slower activity) and Q2 and Q4 as regular agenda presentations (Settlement revenues <br />are collected and year end balances and results are presented). <br />Attachments: <br />General Fund Quarterly Financial Report <br />Special Revenue and Enterprise Funds Quarterly Financial Report <br />Investments by Maturity and Type <br />General Fund Revenue <br />Tax revenues are paid in three instalments (June/ July, October/November and a final settlement <br />in January of the following year). Since property tax collections have not yet been received, only <br />7.17% of the budgeted revenues have been collected through the 1st quarter. The <br />collection percentage rate for current year is higher than in previous years due to a large building <br />permit pulled for the RIDE apartments project. <br />2.58%3.50%2.83%3.33%7.17% <br />0.00% <br />10.00% <br />20.00% <br />30.00% <br />40.00% <br />50.00% <br />60.00% <br />70.00% <br />80.00% <br />90.00% <br />100.00% <br />110.00% <br />120.00% <br />130.00% <br />2021 2022 2023 2024 2025 <br />% of Revenue to Budget