Key highlights from the Monthly Financial Report through August 2021 include:
General Fund
· Total revenues are 28.5%, or $17.1 million, above target.
· Sales tax is 80.2%, or $12.9 million, above target primarily due to the high level of development activity, which
has generated $10.5 million in one-time construction sales tax through August 2021.
· Utility taxes are 0.3%, or $23,000, below target.
· License & permit fees are 28.3%, or $2.3 million, above target primarily due to the high level of development
activity.
· Intergovernmental revenues are 25.0%, or $2.6 million, above target primarily due to the American Rescue Act.
· Total expenditures are 16.3%, or $16.9 million, below target primarily due to position vacancies, the timing of
one-time expenditures, and the budget adjustments adopted by ordinance on August 17, 2021 that impact 2022
or beyond (e.g., $5.0 million in ARPA funding won’t be spent until 2022, and most of the Police body-worn
camera program funding is reserved for 2023-2025).
Other Funds