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Committee of the Whole/Documents/Presentation: Budget Variance and Projects Update
Presentation

Presentation: Budget Variance and Projects Update

July 13, 2021Pages 49–524 sections

Slide presentation introducing the new interactive budget variance dashboard.

2. APPROVAL OF AGENDA (motion to approve)
July 13, 2021dchristenson@viewroyal.ca
Page 49–52

Budget Variance and Projects Update

Committee of the Whole
July 13, 2021

Page 49–52

Budget Variance and Projects Update

Traditional report

  • Consolidated revenue and expense (operating, capital, all funds)
  • Rows and columns of numbers
  • High level, no detail
  • Snapshot in time
  • Single prior year comparative
  • Limited project metrics (est. completion)
  • Capital projects only
  • Not typically made available directly on website

New dashboard

  • Operating revenue and expense
  • Charts and graphs
  • Drilldown to next level of detail
  • Updated frequently
  • Up to four years comparative data
  • More complete project metrics (% completion, comments, etc)
  • Capital and non-core projects
  • If supported, could be made available directly on Town's website
Financial dashboard for Operating Revenue showing bar charts for various service categories and a detailed comparison table with columns for Budget, YTD, Variance, Variance %, PY Budget, and Prior YTD
Financial dashboard for Operating Revenue showing bar charts for various service categories and a detailed comparison table with columns for Budget, YTD, Variance, Variance %, PY Budget, and Prior YTD

Select Fiscal Period: 2021, Q2

Target Variance: 50%

Service Budget YTD Variance Variance % PY Budget Prior YTD
Taxation $9,614,978 $9,594,907 $20,071 0% under budget $9,251,211 $9,213,636
User fees $2,822,165 $536,249 $2,285,916 81% under budget $2,781,240 $528,154
Government grants and transfers $1,029,981 $515,956 $514,025 50% under budget $3,198,138 $840,842
Sales of services $814,514 $477,024 $337,490 41% under budget $817,225 $398,620
Other revenue $232,275 $107,143 $125,132 54% under budget $198,743 $170,303
Investment income $110,000 $33,723 $76,277 69% under budget $110,000 $73,841
Penalties and fines $60,000 $6,544 $53,456 89% under budget $60,000 $7,962
Contributions from developers and others $30,750 ($30,750) $37,500
Total $14,683,913 $11,302,298 $3,381,615 23% under budget $16,416,557 $11,270,858

Year to date values (YTD) include transactions posted up to July 5, 2021.

Page 49–52

Thank you!

Link to dashboard is available through report on agenda, but won’t be publicized until it has been more thoroughly tested and Council has had a chance to explore it and provide comments.

Feedback:
Email dchristenson@viewroyal.ca
CC kanema@viewroyal.ca

Page 49–52
Extracted from: 2021 07 13 Committee of the Whole Agenda - Agenda - Pdf