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City of Lino Lakes <br />General Fund Budget to Actual (Unaudited) <br />For the Quarter Ended June 30, 2024 <br />(4) Interest rates are favorable and surpassing budget expectations. Portfolio YTM is 5.29% compared to 4.49% at <br />March 31, 2023. <br />(5) Favorable variance in Subscription & Dues as the League of MN Cities and Mayor Association dues are billed in September and <br />Newsletter with only one of three newsletters sent to date. <br />(6) Favorable variance due to the May and June Tourism Tax remittances processed in the 2nd quarter. <br />(7) Favorable variance in Contracted Services due to ordinance update expenditures. The unused funds are transferred to Fund 484 <br />Comp Plan Updates at year end. <br />(8) Favorable variance due to Community Development Specialist vacancy; new position in the 2024 budget that has yet to be filled. <br />(9) Favorable variance due to Building Permit Tech and Building Inspector vacancies offset slightly by contracted building inspection <br />services. <br />(10) Favorable variance due to Temporaries, Utilities, and Contracted Services which are seasonal in nature (i.e. seasonal workers, <br />irrigation, portable restrooms, weed control, trail maintenance, etc.) and will be utilized throughout the Summer/Fall. <br />(11) Budgeted transfers are recorded in full each January slightly offset by a favorable contingency variance. The City Council <br />authorized an additional $100,000 transfer in 2024 for BS&A Software. Contingency does not get any expenditures coded to it, <br />instead that budget is allocated to other line items with budget amendments as needed. <br />