14.4 SR 04-07-2025[ITEM_HEAD]
City of
Elk.,
River
To
City Council
Meeting Date
April 7, 2025
Item Description
February Financial Reports
Action Requested
Information only.
Background/Discussion
Request for Action
Item Number
14.1
Prepared By
Lori Stich, Finance Manager
Reviewed by
Lori Stich
Joe Stremcha
Cal Portner
Tina Allard
This report is designed to provide summary information regarding the overall level of revenues and
expenditures in the General Fund, the Multipurpose Facility Special Revenue Fund, and the Enterprise Funds.
These funds provide an important picture of the city's financial health.
For February, actual revenues (excluding property taxes and transfers -in) and expenditures should run about
17% of the annual budget. It is natural for some of the items to vary from month to month, such as exceeding
budget for Supplies but being below budget for Services. This is not considered serious as long as the total
expenditure budget amount is not exceeded. Significant variances from budget are highlighted below,
accompanied by a general discussion of the variance.
General Fund
Revenues:
■ Property taxes, our largest revenue source, are received in July and December.
■ License & permit collections are 14% of budget estimates, consisting primarily of building -related
permits.
■ Charges for services are about 30% of estimates with plan check fees, the second half of the school
liaison contract for the 2024-2025 school year, the first half of the Otsego fire contract and recreation
fees make up the majority of collections.
■ Transfers -in consist of ERMU's 4% January monthly electric revenues. The remaining transfers -in will
be recorded mid -year.
Expenditures:
The Elk River Vision
A u eLcoming cornmunit , with revolutionary and spirited resourcefulness, exceptional service, and colwiliwit , P� d W E R E D 0d
engageneent that encourages sand inspires prosperity INAUJW 249
• Total departmental expenditures are about 15% of budget. Most departments are within or below
budget estimates.
2025 Monthly Expenditures
25,000
$20,000
$15,000
Ln
x
10,000
$5,000
Jain Feb M�ar Apr M�ay
IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIlI Actuial $2,114 $3,253
EJudlget $1,851 $3,702 $5,553 $7,403 $9,254
FTCenter
Juin Jul Auii8 se Oct lov Dec
11105 $12,956 $14,807 $16,658 $18,508 $20,359 22,2
Through the end of February, revenues of $396,456 exceeded expenditures of $253,072 by $143,384. The
majority of February collections consist of ice rent, admissions for section hockey games, recreation fees, and
concessions, while expenditures are primarily attributable to personal services.
Financial Impact
N/A
Mission/Policy/Goal
Responsible for every dollar - good stewards.
Attachments
I. 02-2025 Financial reports
Page 244 of 249
General Fund
As of:
2/28/2025
17.00% OF YEAR COMPLETED
REVENUES
Budget
YTD Actual
%of budget
Budget Balance
Taxes
101-3-0000-3111
Current Ad Valorem Taxes
15,626,050.00
(3,389.44)
-0.02%
15,629,439.44
101-3-0000-3112
Delinquent Ad Valorem Taxes
0.00
2,722.46
0.00%
(2,722.46)
101-3-0000-3121
Gravel Tax
225,000.00
0.00
0.00%
225,000.00
101-3-0000-3131
Penalties/Interest
0.00
666.98
0.00%
(666.98)
Total Taxes
15,851,050.00
0.00
0.00%
15,851,050.00
Licenses & Permits
101-3-0000-3211
Liquor License
82,000.00
75.00
0.09%
81,925.00
101-3-0000-3212
THC License
5,000.00
400.00
8.00%
4,600.00
101-3-0000-3213
Cigarette License
4,000.00
0.00
0.00%
4,000.00
101-3-0000-3214
Rental License
65,000.00
4,550.00
7.00%
60,450.00
101-3-0000-3216
Mining License
26,000.00
0.00
0.00%
26,000.00
101-3-0000-3217
Garbage Hauler License
2,500.00
580.00
23.20%
1,920.00
101-3-0000-3218
Other Business License/Permit
16,000.00
2,150.00
13.44%
13,850.00
101-3-0000-3229
NPDES Permit
23,000.00
2,100.00
9.13%
20,900.00
101-3-0000-3231
Building Permit
550,000.00
88,534.45
16.10%
461,465.55
101-3-0000-3232
Plumbing/Heating Permit
175,000.00
32,827.56
18.76%
142,172.44
101-3-0000-3233
Permit Surcharge
700.00
2,784.27
397.75%
(2,084.27)
101-3-0000-3235
Animal License
0.00
225.00
0.00%
(225.00)
101-3-0000-3237
Other Non -Business Lic/Permit
25,000.00
1,680.00
6.72%
23,320.00
Total Licenses & Permits
974,200.00
135,906.28
13.95%
838,293.72
Intergovernmental Revenue
101-3-0000-3322
MV Credit
6,000.00
0.00
0.00%
6,000.00
101-3-0000-3323
Fire State Aid
275,000.00
0.00
0.00%
275,000.00
101-3-0000-3325
Police 2%Aid
414,000.00
0.00
0.00%
414,000.00
101-3-0000-3326
Police Training Reimb
35,000.00
0.00
0.00%
35,000.00
101-3-0000-3329
State Crime Prevention Grant
48,000.00
0.00
0.00%
48,000.00
101-3-0000-3330
Other State Grants
0.00
12,013.00
0.00%
(12,013.00)
Total Intergovernmental Revenue
778,000.00
12,013.00
1.54%
765,987.00
Charges for Services
101-3-0000-3412
Planning & Zoning Fees
25,000.00
6,205.00
24.82%
18,795.00
101-3-0000-3413
Plan Check Fee
230,000.00
27,602.19
12.00%
202,397.81
101-3-0000-3415
Special Assessment Search
500.00
30.00
6.00%
470.00
101-3-0000-3417
Copies
1,500.00
304.00
20.27%
1,196.00
101-3-0000-3430
Lockout Fees
3,500.00
360.00
10.29%
3,140.00
101-3-0000-3431
Police Services
46,000.00
60.00
0.13%
45,940.00
101-3-0000-3432
School Liaison
185,000.00
89,567.50
48.41%
95,432.50
101-3-0000-3434
Animal Impound Fee
500.00
250.00
50.00%
250.00
101-3-0000-3436
Fire Contracts
465,750.00
206,089.50
44.25%
259,660.50
101-3-0000-3437
Fire Services
3,000.00
0.00
0.00%
3,000.00
101-3-0000-3451
Street Services
35,000.00
1,747.50
4.99%
33,252.50
101-3-0000-3452
Engineering Services Reimb
20,000.00
0.00
0.00%
20,000.00
101-3-0000-3461
Recreation Fees
52,500.00
4,094.39
7.80%
48,405.61
101-3-0000-3462
Sr Center Activities
47,500.00
9,518.71
20.04%
37,981.29
101-3-0000-3463
Farmer's Market
15,000.00
18,135.00
120.90%
(3,135.00)
101-3-0000-3469
Elk RiverFest
20,000.00
2,685.00
13.43%
17,315.00
101-3-0000-3472
Park Use Fee
76,900.00
11,441.11
14.88%
65,458.89
101-3-0000-3483
Sewer Inspection Fee
15,000.00
800.00
5.33%
14,200.00
Page 245 of 249
General Fund
As of:
2/28/2025
17.00% OF YEAR COMPLETED
REVENUES
Budget
YTD Actual
%of budget Budget Balance
101-3-0000-3484
Contractor License Check 1,200.00
105.00
8.75%
1,095.00
Total Charges for Services 1,243,850.00
379,064.90
30.48%
864,785.10
Fines & Forfeits
101-3-0000-3510
Court Fines 155,000.00
13,322.65
8.60%
141,677.35
101-3-0000-3512
Ordinance Violations 0.00
0.00
0.00%
0.00
Total Fines & Forfeits
155,000.00
13,322.65
8.60%
141,677.35
Other Revenue
101-3-0000-3621
Interest Income
175,000.00
0.00
0.00%
175,000.00
101-3-0000-3625
Refunds & Reimbursements
150,000.00
2,250.66
1.50%
147,749.34
101-3-0000-3626
Contributions
26,000.00
0.00
0.00%
26,000.00
101-3-0000-3629
Miscellaneous Revenue
10,000.00
2,132.51
21.33%
7,867.49
Total Other Revenue
361,000.00
4,333.17
1.21%
356,616.83
Transfersln
101-3-0000-3921
Transfers
0.00
0.00
0.00%
0.00
101-3-0000-3926
Transfer -Capital Outlay Resery
95,000.00
0.00
0.00%
95,000.00
101-3-0000-3942
Transfer-WWTS
180,000.00
0.00
0.00%
180,000.00
101-3-0000-3943
Transfer -Liquor
850,000.00
0.00
0.00%
350,000.00
101-3-0000-3944
Transfer -Garbage
60,000.00
0.00
0.00%
60,000.00
101-3-0000-3945
Transfer -Utilities
1,450,000.00
108,320.49
7.47%
1,341,679.51
101-3-0000-3946
Transfer-Stormwater
125,000.00
0.00
0.00%
125,000.00
101-3-0000-3948
Transfer-EDA
48,000.00
0.00
0.00%
48,000.00
101-3-0000-3949
Transfer-HRA
39,000.00
0.00
0.00%
39,000.00
Total Transfers In
2,847,000.00
108,320.49
3.80%
2,738,679.51
TOTAL GENERAL FUND REVENUES 22,210,100.00 653,010.49 2.94% 21,557,089.51
Page 246 of 249
General Fund As of: 2/28/2025 17.00% OF YEAR COMPLETED
EXPENDITURE SUMMARY
Budget YTDActual
% of budget Budget Balance
General Government
City Council
233,000.00
51,835.33
22.25%
181,164.67
Communications
522,150.00
72,182.57
13.82%
449,967.43
Administrative Services
727,050.00
104,894.63
14.43%
622,155.37
Human Resources
456,150.00
73,896.14
16.20%
382,253.86
Elections
6,800.00
6,305.86
92.73%
494.14
Finance
850,250.00
117,070.08
13.77%
733,179.92
Information Technology
748,200.00
93,444.44
12.49%
654,755.56
Legal
300,000.00
20,526.86
6.84%
279,473.14
Community Development
0.00
8.98
0.00%
(8.98)
Planning
504,750.00
103,294.67
20.46%
401,455.33
Building Maintenance
1,151,350.00
158,522.91
13.77%
992,827.09
Total General Government
5,499,700.00
801,982.47
14.58%
4,697,717.53
Public Safety
Police Administration
1,257,000.00
271,630.23
21.61%
985,369.77
Patrol
3,992,500.00
525,930.83
13.17%
3,466,569.17
Investigations
1,523,350.00
230,808.52
15.15%
1,292,541.48
Police Support Services
1,002,750.00
128,356.04
12.80%
874,393.96
Police Reserves
16,550.00
665.00
4.02%
15,885.00
Public Safety Building
236,150.00
25,036.64
10.60%
211,113.36
Fire Administration
1,405,400.00
188,298.15
13.40%
1,217,101.85
Fire Operations
658,900.00
94,357.79
14.32%
564,542.21
Emergency Management
32,150.00
757.91
2.36%
31,392.09
Building Safety
648,400.00
93,393.93
14.40%
555,006.07
Code Enforcement
132,900.00
19,182.20
14.43%
113,717.80
Environmental
57,800.00
865.32
1.50%
56,934.68
Total Public Safety
10,963,850.00
1,579,282.56
14.40%
9,384,567.44
Public Works
Street Maintenance
1,778,350.00
199,923.05
11.24%
1,578,426.95
Snow Removal
380,650.00
177,679.12
46.68%
202,970.88
Equipment Services
428,700.00
58,719.76
13.70%
369,980.24
Engineering
382,100.00
52,316.17
13.69%
329,783.83
Total Public Works
2,969,800.00
488,638.10
16.45%
2,481,161.90
Culture & Recreation
Parks Department
1,736,000.00
211,107.32
12.16%
1,524,892.68
Parks & Rec Admin
576,100.00
85,018.44
14.76%
491,081.56
Recreation Programs
146,550.00
17,938.44
12.24%
128,611.56
Farmers Market
61,850.00
4,564.77
7.38%
57,285.23
Sr Citizen Programs
216,050.00
30,936.57
14.32%
185,113.43
Total Culture & Recreation
2,736,550.00
349,565.54
12.77%
2,386,984.46
Economic Development
Economic Development
0.00
33,637.00
0.00%
(33,637.00)
Energy City
40,200.00
0.00
0.00%
40,200.00
Total Economic Development
40,200.00
33,637.00
83.67%
6,563.00
TOTAL GENERAL FUND EXPENDITURES
22,210,100.00
3,253,105.67
14.65%
18,956,994.33
REVENUES OVER/(UNDER) EXPENDITURES
0.00
(2,600,095.18)
3,029,132.50
Page 247 of 249
CITY OF ELK RIVER
FTCENTER - BUDGET TO ACTUAL
MONTH ENDED FEBRUARY 28, 2025
Revenues:
Ice Rental
Admissions
Dry Floor Events/Craft Shows
Facility Rental
Advertising/Naming Rights/Sponsorships
Recreation fees (Skating/Hockey)
Concessions/catering/vending
Other Revenues (interest, etc.)
Total Revenues
Operating expenses:
Personal services
Supplies
Other service charges
Capital Outlay
Total Expenditures
Revenues over/(under) expenditures
Current Year to Date % of
Budget Actual Budget
$861,000
$122,571
14.24%
6,000
70,524
1175.40%
0
250
0.00%
245,400
28,580
2.00%
192,550
17,149
8.91%
160,000
62,357
38.97%
363,000
91,473
25.20%
29,600
3,551
12.00%
$1,857,550
$396,456
21.34%
$930,900
$151,762
16.30%
197,550
41,957
21.24%
585,450
59,353
10.14%
141,750
0
0.00%
$1,855,650
$253,072
13.64%
$1,900
$143,383
FTCenter
February 2025
$2,000,000
Budget, $1,857,550 Budget, $1,855,650
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
Actual
$600,000
$396,456 Actual
$00,000
$200,000
�� ����
$0
VU�IPtIRUIUtIRUIUtIRU IRU�RU�RU�RU
Total Revenues Total Expenditures
Page 248 of 249
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