Finance Committee Agenda and Packet 2017 05 15

Home Browse Search

Louisville [1.! OLORADO SINCE 1878OLORADO - SINCE 1878 FINANCE COMMITTEE COMMUNICATION SUBJECT: FINANCIAL STATEMENTS FOR PERIOD ENDING APRIL 30, 2017 DATE: MAY 15, 2017 PRESENTED BY: GRAHAM CLARK, FINANCE SUMMARY: The accompanying statements are for the four months (33.3%) ending April 30th, 2017. The 2016 numbers in the upcoming reports are not yet final. Final 2016 numbers will be available when the auditors are completely finished with their audit. The 2017 budget numbers reflect the initial budget along with the April budget amendment to adjust for program budgets. General Fund: Through April 30th, General Fund expenditures exceed revenues by $593,418. Total revenue is 30.2% of the annual budget and expenditures are 27.6%. We have received 41% of the YTD budget for court fines for 2017. The Cultural Services program has received the annual Superior Library payment so the percentage of that annual budget will look inflated during the early part of the year. Open Space & Parks Fund: Through April 30th, Open Space and Parks expenditures exceed revenues by $43,919. Total revenue is 16.2% of the annual budget and expenditures are 14.1%. No capital projects have been started in 2017. Capital Projects Fund: Through April 30th, Capital Projects revenues exceed expenditures by $782,340. Total revenue is 23.7% of the annual budget and expenditures are 17.5%. South Street Underpass, Street Reconstruction Project, and Rec Center Design make up most of the $822K spent in 2017. Water Utility Fund: Through April 30th, revenues exceed expenditures by $968,361. Total revenue is 12.6% of the annual budget and expenses are 9.8%. User fees and charges through April 30th are identical to last year as a percentage of the budget. FINANCE COMMITTEE COMMUNICATION 8