13.1 SR 04-21-2025The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community
engagement that encourages and inspires prosperity
[ITEM_HEAD]
Request for Action
To
City Council
Item Number
13.1
Meeting Date
April 21, 2025
Prepared By
Lori Stich, Finance Manager
Item Description
March Financial Reports
Reviewed by
Lori Stich
Joe Stremcha
Cal Portner
Tina Allard
Action Requested
Information Only.
Background/Discussion
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 March, actual revenues (excluding property taxes and transfers-in) and expenditures should run about
25% of the annual budget. It is natural for some 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 is not overspent. Significant variances from the 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 and permit collections are 29% of budget estimates, consisting primarily of building-related
permits and liquor licenses.
▪ Charges for services are about 38% of estimates, with plan check fees and recreation fees making up
the majority of collections.
▪ Transfers-in consist of ERMU’s 4% February monthly electric revenues. The remaining transfers-in will
be recorded mid-year.
Expenditures:
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• Total departmental expenditures are about 22% of budget. Most departments are within or below
budget estimates.
• The second quarter premiums for Workers’ Comp and property/liability insurance are reflected in the
departmental expenditures for March.
FTCenter
Through the end of March, revenues of $446,075 exceed expenditures of $390,325 by $55,750. The majority
of March collections consist of ice rent and concessions, while expenditures are primarily attributable to
personal services.
Financial Impact
N/A
Mission/Policy/Goal
Responsible for every dollar - good stewards
Attachments
1. 03-2025 Financial Reports
Page 189 of 197
General Fund As of:3/31/2025 25.00%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 6,266.25 7.64%75,733.75
101-3-0000-3212 THC License 5,000.00 400.00 8.00%4,600.00
101-3-0000-3213 Cigarette License 4,000.00 150.00 3.75%3,850.00
101-3-0000-3214 Rental License 65,000.00 10,030.00 15.43%54,970.00
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 4,220.00 26.38%11,780.00
101-3-0000-3229 NPDES Permit 23,000.00 4,900.00 21.30%18,100.00
101-3-0000-3231 Building Permit 550,000.00 187,531.70 34.10%362,468.30
101-3-0000-3232 Plumbing/Heating Permit 175,000.00 62,507.28 35.72%112,492.72
101-3-0000-3233 Permit Surcharge 700.00 6,627.22 946.75%(5,927.22)
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 2,550.00 10.20%22,450.00
Total Licenses & Permits 974,200.00 285,987.45 29.36%688,212.55
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 1,635.92 3.41%46,364.08
101-3-0000-3330 Other State Grants 0.00 12,013.00 0.00%(12,013.00)
Total Intergovernmental Revenue 778,000.00 13,648.92 1.75%764,351.08
Charges for Services
101-3-0000-3412 Planning & Zoning Fees 25,000.00 8,455.00 33.82%16,545.00
101-3-0000-3413 Plan Check Fee 230,000.00 83,731.91 36.41%146,268.09
101-3-0000-3415 Special Assessment Search 500.00 60.00 12.00%440.00
101-3-0000-3417 Copies 1,500.00 310.39 20.69%1,189.61
101-3-0000-3430 Lockout Fees 3,500.00 440.00 12.57%3,060.00
101-3-0000-3431 Police Services 46,000.00 80.00 0.17%45,920.00
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 18,294.39 34.85%34,205.61
101-3-0000-3462 Sr Center Activities 47,500.00 16,167.88 34.04%31,332.12
101-3-0000-3463 Farmer's Market 15,000.00 19,651.00 131.01%(4,651.00)
101-3-0000-3469 Elk RiverFest 20,000.00 3,140.00 15.70%16,860.00
101-3-0000-3472 Park Use Fee 76,900.00 21,360.63 27.78%55,539.37
101-3-0000-3483 Sewer Inspection Fee 15,000.00 1,715.00 11.43%13,285.00
Page 190 of 197
General Fund As of:3/31/2025 25.00%OF YEAR COMPLETED
REVENUES Budget YTD Actual % of budget Budget Balance
101-3-0000-3484 Contractor License Check 1,200.00 265.00 22.08%935.00
Total Charges for Services 1,243,850.00 471,430.70 37.90%772,419.30
Fines & Forfeits
101-3-0000-3510 Court Fines 155,000.00 25,378.21 16.37%129,621.79
101-3-0000-3512 Ordinance Violations 0.00 0.00 0.00%0.00
Total Fines & Forfeits 155,000.00 25,378.21 16.37%129,621.79
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 18,116.71 12.08%131,883.29
101-3-0000-3626 Contributions 26,000.00 0.00 0.00%26,000.00
101-3-0000-3629 Miscellaneous Revenue 10,000.00 2,289.55 22.90%7,710.45
Total Other Revenue 361,000.00 20,406.26 5.65%340,593.74
Transfers In
101-3-0000-3921 Transfers 0.00 0.00 0.00%0.00
101-3-0000-3926 Transfer-Capital Outlay Reserv 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%850,000.00
101-3-0000-3944 Transfer-Garbage 60,000.00 0.00 0.00%60,000.00
101-3-0000-3945 Transfer-Utilities 1,450,000.00 221,324.19 15.26%1,228,675.81
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 2,847,000.00 221,324.19 7.77%2,625,675.81
TOTAL GENERAL FUND REVENUES 22,210,100.00 1,038,175.73 4.67%21,171,924.27
Page 191 of 197
General Fund As of:3/31/2025 25.00%OF YEAR COMPLETED
EXPENDITURE SUMMARY
Budget YTD Actual % of budget Budget Balance
General Government
City Council 233,000.00 73,223.91 31.43%159,776.09
Communications 522,150.00 109,875.08 21.04%412,274.92
Administrative Services 727,050.00 158,909.34 21.86%568,140.66
Human Resources 456,150.00 99,697.09 21.86%356,452.91
Elections 6,800.00 6,305.86 92.73%494.14
Finance 850,250.00 187,318.56 22.03%662,931.44
Information Technology 748,200.00 128,786.72 17.21%619,413.28
Legal 300,000.00 44,352.98 14.78%255,647.02
Community Development 0.00 7.27 0.00%(7.27)
Planning 504,750.00 139,115.84 27.56%365,634.16
Building Maintenance 1,151,350.00 245,625.60 21.33%905,724.40
Total General Government 5,499,700.00 1,193,218.25 21.70%4,306,481.75
Public Safety
Police Administration 1,257,000.00 407,562.24 32.42%849,437.76
Patrol 3,992,500.00 773,196.38 19.37%3,219,303.62
Investigations 1,523,350.00 381,080.97 25.02%1,142,269.03
Police Support Services 1,002,750.00 202,606.33 20.21%800,143.67
Police Reserves 16,550.00 665.00 4.02%15,885.00
Public Safety Building 236,150.00 42,826.28 18.14%193,323.72
Fire Administration 1,405,400.00 279,154.43 19.86%1,126,245.57
Fire Operations 658,900.00 151,291.40 22.96%507,608.60
Emergency Management 32,150.00 1,792.31 5.57%30,357.69
Building Safety 648,400.00 141,943.89 21.89%506,456.11
Code Enforcement 132,900.00 29,146.76 21.93%103,753.24
Environmental 57,800.00 11,105.21 19.21%46,694.79
Total Public Safety 10,963,850.00 2,422,371.20 22.09%8,541,478.80
Public Works
Street Maintenance 1,778,350.00 310,263.22 17.45%1,468,086.78
Snow Removal 380,650.00 221,054.79 58.07%159,595.21
Equipment Services 428,700.00 85,714.08 19.99%342,985.92
Engineering 382,100.00 80,805.91 21.15%301,294.09
Total Public Works 2,969,800.00 697,838.00 23.50%2,271,962.00
Culture & Recreation
Parks Department 1,736,000.00 315,636.39 18.18%1,420,363.61
Parks & Rec Admin 576,100.00 127,573.73 22.14%448,526.27
Recreation Programs 146,550.00 22,025.50 15.03%124,524.50
Farmers Market 61,850.00 8,643.96 13.98%53,206.04
Sr Citizen Programs 216,050.00 45,955.79 21.27%170,094.21
Total Culture & Recreation 2,736,550.00 519,835.37 19.00%2,216,714.63
Economic Development
Economic Development 0.00 29,437.52 0.00%(29,437.52)
Energy City 40,200.00 0.00 0.00%40,200.00
Total Economic Development 40,200.00 29,437.52 73.23%10,762.48
TOTAL GENERAL FUND EXPENDITURES 22,210,100.00 4,862,700.34 21.89%17,347,399.66
REVENUES OVER/(UNDER) EXPENDITURES 0.00 (3,824,524.61)3,824,524.61
Page 192 of 197
Current
Budget
Year to Date
Actual
% of
Budget
Revenues:
Ice Rental $861,000 $137,645 15.99%
Admissions 6,000 12,488 208.13%
Dry Floor Events/Craft Shows 0 250 0.00%
Facility Rental 245,400 46,127 2.00%
Advertising/Naming Rights/Sponsorships 192,550 22,566 11.72%
Recreation fees (Skating/Hockey)160,000 63,899 39.94%
Concessions/catering/vending 363,000 158,211 43.58%
Other Revenues (interest, etc.)29,600 4,888 16.51%
Total Revenues $1,857,550 $446,075 24.01%
Operating expenses:
Personal services $930,900 $227,564 24.45%
Supplies 197,550 60,342 30.55%
Other service charges 585,450 102,419 17.49%
Capital Outlay 141,750 0 0.00%
Total Expenditures $1,855,650 $390,325 21.03%
Revenues over/(under) expenditures $1,900 $55,750
CITY OF ELK RIVER
FTCENTER - BUDGET TO ACTUAL
MONTH ENDED MARCH 31, 2025
Budget, $1,857,550 Budget, $1,855,650
Actual
$446,075 Actual
$390,325
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
Total Revenues Total Expenditures
FTCenter
March 2025
Page 193 of 197
Current
Budget
Year to Date
Actual
% of
Budget
Current
Budget
Year to Date
Actual
% of
Budget
Current
Budget
Year to Date
Actual
% of
Budget
Current
Budget
Year to Date
Actual
% of
Budget
Sales and cost of sales:
Sales 8,640,000$ 1,837,714$ 21.27%
Cost of sales (6,235,750) (1,134,036) 18.19%
Gross profit 2,404,250 703,678 29.27%
Operating revenues:
User charges - - - 2,745,000$ 482,308$ 17.57%2,070,000$ 327,956$ 15.84%675,000$ 113,446$ 16.81%
Delinquency collections - - - 1,500 - 0.00%- - - - - -
Other 9,000 1,277 14.19%195,000 13,837 7.10%- - - - - -
Total operating revenues 9,000 1,277 14.19%2,941,500 496,144 16.87%2,070,000 327,956 15.84%675,000 113,446 16.81%
Operating expenses:
Personal services 1,268,300 277,127 21.85%901,300 197,890 21.96%29,900 2,189 7.32%- - -
Supplies 31,500 2,981 9.46%334,900 33,601 10.03%23,250 200 0.86%1,000 - 0.00%
Other service charges 397,650 72,565 18.25%1,007,950 170,538 16.92%1,844,550 301,102 16.32%302,950 3,598 1.19%
Depreciation *70,000 - 0.00%1,710,000 - 0.00%- - - 500,000 - 0.00%
Total operating expenses 1,767,450 352,673 19.95%3,954,150 402,029 10.17%1,897,700 303,491 15.99%803,950 3,598 0.45%
Operating income (loss)645,800 352,283 54.55%(1,012,650) 94,116 -9.29%172,300 24,464 14.20%(128,950) 109,848 -85.19%
Nonoperating revenues (expenses):
Interest income 135,000 - 0.00%135,000 - 0.00%10,000 - 0.00%30,000 - 0.00%
Interest expense/agent fees - - - (77,550) (39,818) 51.34%- - - - - -
Total nonoperating revenues (expenses)135,000 - 0.00%57,450 (39,818) -69.31%10,000 - 0.00%30,000 - 0.00%
Income (loss) before contributions & transfers 780,800 352,283 45.12%(955,200) 54,298 -5.68%182,300 24,464 13.42%(98,950) 109,848 -111.01%
Contributions - connection fees - - - 1,000,000 459,846 45.98%- - - - - -
Transfers in (ARPA funds)- - 0.00%
Sale of assets - - 0.00%- - 0.00%- - 0.00%- - 0.00%
Transfers out (1,100,000) - 0.00%(180,000) - 0.00%(60,000) - 0.00%(125,000) - 0.00%
NET INCOME (LOSS)(319,200) 352,283 -110.36%(135,200) 514,144 -380.28%122,300 24,464 20.00%(223,950) 109,848 -49.05%
Items reclassified to balance sheet at year end:
Bond Proceeds - -
Capital Outlay - - - (343,000) - - - - - (150,000) - -
Bond Payment - - - (530,000) (530,000) - - - - - - -
Revenues over/(under) expenditures (319,200) 352,283 (1,008,200) (15,856) 122,300 24,464 (373,950) 109,848
* Recorded at year-end
CITY OF ELK RIVER
ENTERPRISE FUNDS - BUDGET TO ACTUAL
MONTH ENDED MARCH 31, 2025
Liquor Sewer Garbage Stormwater
Page 194 of 197