Regular Meeting (Budget Report)

**Executive Summary**

**Financial Overview:**
The monthly financial report for April 2024 reveals significant deviations between the budgeted and actual figures of the Township of Kasson. Total income for the month was $6,404.74 against a budgeted figure of $535,919.00, resulting in a shortfall of $529,514.26 (1.2% of the budget). This trend is primarily attributed to underperformance in various revenue accounts, particularly in taxes, state shared revenue, and other revenue streams.

**Expenditure Analysis:**
Total expenditures amounted to $26,667.89, substantially lower than the budget of $494,744.00, yielding an under-budget performance of $468,076.11 (5.4% of the budget). Notably, the Township Board’s expenses accounted for a significant portion of the total with a lower-than-anticipated spending spree, which leads to an overall net ordinary income loss of -$20,263.15. Specific expenditures such as legal services, insurance, and capital outlays have shown noteworthy variances relative to budget constraints.

**Net Income Summary:**
The net income for April was a deficit of -$102,040.35, starkly contrasting with a budget expectation of breakeven. The other income and expenses primarily related to fire and rescue operations also contributed to the negative outlook, with reported expenses of $81,777.20 against a projected budget of $408,175.00. This expense management strategy reflects challenges in revenue generation and points towards a need for reevaluation of financial strategies moving forward.