Regular Meeting (Profit & Loss 4.1.23 through 1.10.24)

**Executive Summary**

**Financial Overview**
The budget comparison for Centerville Township from April 1, 2023, to January 10, 2024, reflects significant discrepancies between projected income and actual revenues, resulting in considerable budget overages. The total income recorded is $307,236.42, which is substantially below the budgeted amount of $598,477.00, creating a deficit of $291,240.58 or 51.3%. Certain revenue categories, such as property taxes and fire operating funds, have fallen short of expectations, while some categories like zoning permits and cable franchise fees have exceeded their budgets significantly.

**Expenditure Analysis**
In terms of expenses, the total recorded is $573,691.50 against a budget of $564,954.15, indicating an over-expenditure of $8,737.35, equating to 101.5% of the budget. Notably, certain administrative and operational costs have come in well below projections, including legal fees and office supplies. However, specific areas such as township hall upgrades and planning costs showed significant overspending, prompting further investigation into operational efficiencies.

**Net Income and Conclusion**
The net ordinary income reported is a loss of $266,455.08, compared to a positive budget of $33,522.85, highlighting a drastic variation of $299,977.93 or -794.8%. With ongoing revenue shortfalls and expenditures trending higher than planned, it is crucial for the township to reassess its financial strategy to strengthen fiscal management for the remainder of the fiscal year. Recommendations include enhancing revenue generation efforts and stringent control over expenditures to mitigate budgetary shortfalls.