HomeMy WebLinkAboutItem 4 - CC 10 15 13 September Financial Reporting Packet1
MAYOR AND COUNCIL COMMUNICATION
DATE: 10/15/2013
CONSENT
ITEM #: 4
AGENDA ITEM: September 2013 Financial Reporting
SUBMITTED BY: Cathy Bendel, Finance Director
THROUGH: Dean Zuleger, City Administrator
REVIEWED BY: Dean Zuleger, City Administrator
SUMMARY AND ACTION REQUESTED: As part of its Consent Agenda, The City Council
is asked to accept the September 2013 Financial Reporting Packet. No specific motion is
needed, as this is recommended to be part of the overall approval of the Consent Agenda.
BACKGROUND INFORMATION: The City of Lake Elmo has fiduciary authority and
responsibility to conduct normal business operations and report the financial (unaudited)
statement to the City Council. City guidelines suggest the Council be updated on a regular basis.
STAFF REPORT: Attached please find a report for September reflecting the monthly detail
supporting the year to date actual results and comparing those results to the 2013 Budget.
On a year to date basis through September 30, 2013, the actual results are $112k better than
budget.
The most significant variances are highlighted below:
Revenues:
• Building Permit revenue for the month was 25% better budget. On a year to date basis
actual activity continues to be above plan by 17%.
• Plan review fees for the month were 89% above budget bringing the year to date revenue
to 52% above budget.
Expenses:
Most departments are below budget for the month as all Departments continue to be very cost
conscious. A few key items to note:
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• The City Council recently approved the Administration Department to hire a lobbying
firm to assist with the state grant application process. This was not a budgeted expense
and the monthly retainer of $1k is reported as contract services.
• The Planning Department has incurred expenses above the amounts budgeted for many
expense items due to the City expansion initiative. The majority of the expenses were
related to Engineering support and Contractor expenses.
• Fire prevention costs for the month were over budget but on a year to date basis the costs
are right on budget. It was planned that the supplies would be ordered earlier in the year.
Supplies were ordered in September to be sure to be available for Lake Elmo Days.
• The Cost for the Permit Works software and licenses of $16.3k is reflected in the year to
date Info technology costs for the Building Inspection department. This expense was not
budgeted.
• The Contractor expense in the Public Works department in September represents the
OSHA mandated training which was budgeted later in the year.
• The part-time salaries under the Parks and Recreation department are higher than
budgeted due to having to cover the Park Maintainer functions with part time resources
until the full-time position is filled. Overall the salary costs are right in line with budget
for the month and 25% less than budgeted year to date.
• Please note that the salary and benefit expenses are based on more accurate departmental
allocations than we had in August 2012 when the 2013 budget was initially compiled. As
a result, some departments are above budget, while others are under but overall,
personnel expenses are below budget.
RECOMMENDATION: It is recommended that the City Council receive the August monthly
Financial Reporting Packet as part of tonight’s Consent Agenda.
Alternately, the City Council does have the authority to remove this item from the Consent
Agenda and further discuss and review.
ATTACHMENTS:
1. September Financial Reports