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Revenues
<br />Sewer Hook Up Charge
<br />Interest On Investments
<br />Change in FV of Investments
<br />Refunds & Reimbursements
<br />Sewer Sales
<br />Penalty
<br />Total Revenues
<br />Expenditures
<br />Personal Services
<br />Supplies
<br />Services & Charges
<br />Contractual Services
<br />Capital Outlay
<br />Total Expenditures
<br />Revenues Over
<br />(Under) Expenditures
<br />City of Lino Lakes
<br />Sewer Fund Budget to Actual (Unaudited)
<br />For the Quarter Ended June 30, 2024
<br />Budget
<br />Annual Thru
<br />Budget 06/30/2024
<br />$ 33,000 $
<br />16,500
<br />80,000
<br />40,000
<br />1,979,432
<br />989,716
<br />30,000
<br />15,000
<br />2,122,432
<br />1,061,216
<br />428,714
<br />214,357
<br />90,200
<br />45,100
<br />348,113
<br />174,057
<br />1,373,738
<br />686,869
<br />157,500
<br />78,750
<br />2,398,265
<br />1,199,133
<br />Actuals Prior Year Variance -
<br />Thru Thru Favorable
<br />06/30/2024 06/30/2023 (Unfavorable
<br />$ 13,260 $
<br />10,610 $
<br />2,650
<br />89,303
<br />93,344
<br />(4,041)
<br />29,384
<br />52,732
<br />(23,348) (1)
<br />602
<br />-
<br />602
<br />1,043,361
<br />993,163
<br />50,198 (2)
<br />19,179
<br />17,625
<br />1,554
<br />1.195.089
<br />1.167.474
<br />27.615
<br />181,366
<br />166,048
<br />(15,319)
<br />22,725
<br />8,441
<br />(14,284)
<br />182,261
<br />161,412
<br />(20,849) (3)
<br />762,741
<br />682,342
<br />(80,399) (4)
<br />32,608
<br />-
<br />(32,608) (5)
<br />1,181,702
<br />1,018,243
<br />(163,459)
<br />$ (275,833) $ (137,917) $ 13,387 $ 149,231 $ (135,844)
<br />Item Explanation of items with variance greater than $20,000
<br />(1) Interest rates are favorable and surpassing budget expectations. Portfolio YTM is 5.29% compared to 4.49%
<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 interest rates.
<br />(2) Increase in sewer rates combined with an increase in accounts. 5,823 accounts in Q2 2024 compared to 5,678 in Q2 2023.
<br />(3) The final bill for audit services was paid in June (Q2) in the current year and July in the previous year (Q3).
<br />(4) Met Council Environmental Services Sewer Charges increased 10.78% in 2024.
<br />(5) Variance from prior year due to timing of capital projects and purchases. A truck (Ford F250 #514) was purchased in 2024
<br />(with 50% charged to Water).
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