finance department interoffice memorandum

Finance Department Joseph G. Newlin Finance Director [email protected] (513) 524-5228 office (513) 524-7298 fax INTEROFFICE MEMORANDUM DATE: August 8, 2013 TO: City Council FROM: Joe Newlin RE: Second Quarter Financial Reports Cc: Doug Elliott, Heidi Hill, Department Heads This attachment along with this e-mail is being sent out to inform you as to the availability of the report being posted on line. Simply go the City’s website, click on the Finance Department under Department’s, then click on the “Budget Documents” quick links on the left hand side of the screen and you will see it posted in the following title format – Second (current reporting quarter) Quarter Financial Reports 2013 (fiscal year). Through the second quarter of this year no unusual or unexpected expenses have occurred in the General Fund. Revenues are on track with budgeted figures. Income tax receipts are ahead of last year’s by 4.2%. Property taxes are a little behind but the first half compared to 2012. These are the two largest sources of income for the General Fund. The Local Government Fund – County distribution for the month of June was not received until July so we back on track to meet our budgeted figure. As always we will closely monitor both revenues and expenditures looking for any unforeseen occurrences. Revenues in the Fire/EMS Fund are down compared to last year. The driver is EMS billing. This past December the Firehouse software program the department uses was upgraded and a few unforeseen data base issues may have delayed processing of the information being forwarded on to our billing agent. Also there was a spike in volume in February and March of 2012. As the year progresses we should see a stabilization of billing. This proved true as we received our largest monthly distribution in the month of July. As with the General Fund, we will closely monitor both the revenue and expenditures of the Fire/EMS Fund as the year progresses. I have also included our banking charges as well as credit card usage and related charges for Council’s information. If you have any further questions or concerns please feel free to give me a call.

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Page 1: Finance Department INTEROFFICE MEMORANDUM

Finance Department Joseph G. Newlin Finance Director

[email protected]

(513) 524-5228 office

(513) 524-7298 fax

INTEROFFICE MEMORANDUM

DATE: August 8, 2013

TO: City Council

FROM: Joe Newlin

RE: Second Quarter Financial Reports

Cc: Doug Elliott, Heidi Hill, Department Heads

This attachment along with this e-mail is being sent out to inform you as to the availability of the report being posted on line. Simply go the City’s website, click on the Finance Department under Department’s, then click on the “Budget Documents” quick links on the left hand side of the screen and you will see it posted in the following title format – Second (current reporting quarter) Quarter Financial Reports 2013 (fiscal year). Through the second quarter of this year no unusual or unexpected expenses have occurred in the General Fund. Revenues are on track with budgeted figures. Income tax receipts are ahead of last year’s by 4.2%. Property taxes are a little behind but the first half compared to 2012. These are the two largest sources of income for the General Fund. The Local Government Fund – County distribution for the month of June was not received until July so we back on track to meet our budgeted figure. As always we will closely monitor both revenues and expenditures looking for any unforeseen occurrences. Revenues in the Fire/EMS Fund are down compared to last year. The driver is EMS billing. This past December the Firehouse software program the department uses was upgraded and a few unforeseen data base issues may have delayed processing of the information being forwarded on to our billing agent. Also there was a spike in volume in February and March of 2012. As the year progresses we should see a stabilization of billing. This proved true as we received our largest monthly distribution in the month of July. As with the General Fund, we will closely monitor both the revenue and expenditures of the Fire/EMS Fund as the year progresses. I have also included our banking charges as well as credit card usage and related charges for Council’s information. If you have any further questions or concerns please feel free to give me a call.