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Louisville <br />[1.! <br />OLORADO SINCE 1878OLORADO - SINCE 1878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: <br />FINANCIAL STATEMENTS FOR PERIOD ENDING SEPTEMBER <br />30, 2017 <br />DATE: OCTOBER 16, 2017 <br />PRESENTED BY: GRAHAM CLARK, FINANCE <br />SUMMARY: <br />The accompanying statements are for the eight months (75%) ending September 30th, <br />2017. The 2017 budget numbers reflect the initial budget and the June 6, 2017 budget <br />amendment for 2016 carry -forward amounts and 2017 additions. The following reports <br />also include an August amendment for Water fund operations and capital expenses. <br />General Fund: <br />Through September 30th, General Fund revenues exceed expenditures by $1,818,299. <br />Total revenue is 74.7% of the annual budget and expenditures are 67.3%. Construction <br />permit revenue continues to be below budget. At the end of September Construction <br />permit revenue was at 57% of the annual budget. Minor permits including Electrical and <br />Plumbing permits are also down 7% to budget. The Parks program has only spent 39% <br />of their expenditure budget. The two main categories contributing to the lower <br />expenditures are Parts/Repair/Maintenance and Travel/Education. <br />Open Space & Parks Fund: <br />Through September 30th, Open Space and Parks expenditures exceed revenues by <br />$1,696,972. Total revenue is 82.2% of the annual budget and expenditures are 65.7%. <br />The revenue in the Open Space and Parks will likely end the year over budget due to <br />the Land Dedication amount of $432,333 received in August. <br />Capital Projects Fund: <br />Through September 30th, Capital Projects revenues exceed expenditures by $691,116. <br />Total revenue is 61.2% of the annual budget and expenditures are 40.7%. The <br />Pavement Booster Program, Quite zones, and Street Reconstruction are three projects <br />with larger amounts of work done in September. Please note the detailed CIP sheet will <br />be covered later in this meeting. That report has a detailed line for each of the different <br />CIP projects and includes the project status of each capital project. <br />FINANCE COMMITTEE COMMUNICATION <br />26 <br />