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Finance update: July collections ~$234,300; annual revenue projection ~$5.463 million
Summary
Finance staff presented preliminary July figures (collections $234,300; expenditures about $183,175) and annual projections (revenues $5,463,000; expenses $5,543,800). Staff noted the budget is preliminary and some transcript figures for other financing sources were unclear.
Satrice presented the monthly finance dashboard and said the July financials are preliminary because not all July transactions may have been posted. She reported July collections of $234,300 and expenditures of about $183,175, yielding a reported difference of $51,127 for the month.
For the fiscal year, Satrice said the board's expected revenues are $5,463,000 and expenses are $5,543,800, a projected variance of $80,800. She noted the budget is preliminary because the annual budget has not yet been loaded into the accounting system and that certain allocated costs (insurance, information systems) increased during the budget process and are reflected in the subsidy allocation.
Board members asked for a trend line and better quarterly tracking of indirect and administrative allocations so the board can see the cost of each mandated use; Satrice said she had sent a trend line and will follow up. The transcript contains a line for "other financing sources" that is unclear in the record; staff described that line as representing subsidy allocations related to insurance and information systems.
