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City of Lino Lakes
<br />Sewer Fund Budget to Actual (Unaudited)
<br />For the Quarter Ended March 31, 2024
<br />Budget Actuals Prior Year Variance -
<br />Annual Thru Thru Thru Favorable
<br />Budget 03/31/2024 03/31/2024 03/31/2023 (Unfavorable)
<br />Revenues
<br />Sewer Hook Up Charge 33,000$ 8,250$ 5,820$ 4,400$ 1,420$
<br />Interest On Investments 80,000 20,000 53,398 52,705 693
<br />Change in FV of Investments - - 10,734 89,666 (78,932) (1)
<br />Sewer Sales 1,979,432 494,858 519,386 492,022 27,364 (2)
<br />Penalty 30,000 7,500 8,581 8,114 467
<br /> Total Revenues 2,122,432 530,608 597,919 646,907 (48,987)
<br />Expenditures
<br />Personal Services 428,714 107,179 95,096 92,491 (2,606)
<br />Supplies 90,200 22,550 18,383 5,712 (12,671)
<br />Services & Charges 348,113 87,028 83,030 77,096 (5,935)
<br />Contractual Services 1,373,738 343,435 438,461 388,841 (49,620) (3)
<br />Capital Outlay 157,500 39,375 - - -
<br /> Total Expenditures 2,398,265 599,566 634,971 564,140 (70,831)
<br />Revenues Over
<br />(Under) Expenditures (275,833)$ (68,958)$ (37,052)$ 82,767$ (119,819)$
<br />Item Explanation of items with variance greater than $20,000
<br />(1) Interest rates are favorable and surpassing budget expectations. Portfolio YTM is 4.87% compared to 4.49% at
<br />March 31, 2023. A net unrealized gain on investments is still reported in the current year, although at a lesser amount
<br />than the previous year due to stability in the interest rate.
<br />(2) Increase in sewer rates combined with an increase in accounts. 5,802 accounts in Q1 2024 compared to 5,637 in Q1 2023.
<br />(3) Met Council Environmental Services Sewer Charges increased 10.78% in 2024.
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