INFORMATION 06-17-2019Information
Memorandum
To: Mayor and City Council
From: Jesse Dorn, Assistant Finance Director
Date: June 17, 2019
Subject: May 2019 Monthly Financial Report
This report is designed to provide summary information regarding the overall level of revenues and
expenditures in the General Fund, the Ice Arena Special Revenue Fund, and the Enterprise Funds.
These funds provide an important picture of the city’s financial health.
For the month of May, actual revenues (excluding property taxes and transfers in) and expenditures
should run about 42% of the annual budget. It is natural for some of the items to vary from month
to month, such as exceeding budget for Supplies but being below budget for Services. This is not
considered serious as long as the total expenditure budget amount is not overspent. Significant
variances from budget are highlighted below accompanied with a general discussion for the variance.
GENERAL FUND
Revenues:
Excluding property taxes and transfers in, general fund revenues are running 28% of budget.
Licenses and permits are 36% of budget estimates, with May collections mainly comprised of
liquor licenses and building related permits.
Charges for services are in line with budget estimates at 40% of budget.
Fines and forfeits, which lag a month for collections, are running 30% of budget.
Contributions include sponsorships received for Elk RiverFest.
Transfers in are comprised of ERMU’s 4% electric revenues through April and the majority
of transfers in will be recorded mid-year.
Actual$9,462$8,111$6,759$5,407$4,055$2,704$1,352Budget$6,014$4,481$3,314$2,009$944
$0$18,000$16,000$14,000$12,000$10,000$8,000$6,000$4,000$2,000$ THOUSANDS
2019 Monthly Expenditures
Expenditures:
Total departmental expenditures are about 37% of budget and most departments are within
or below budget estimates.
Finance department expenditures consist of the annual assessing services paid to the county.
ICE ARENA
Through the end of May, revenues of $345,422 exceed expenditures of $299,270 by $46,152, with
ice rental and breakaway hockey registrations making up the majority of revenues. Ice rental
revenues are 35% of budget estimates.
ATTACHMENTS
General Fund Revenue & Expense Report
Enterprise Funds – Budget to Actual
Cash Report – All Funds
6-12-2019 08:14 AMCITY OF ELK RIVERPAGE:
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: MAY 31ST, 2019
101-GENERAL FUND
41.67% OF YEAR COMP.
CURRENTCURRENTYEAR TO DATE% OFBUDGET
REVENUES BUDGETPERIODACTUALBUDGETBALANCE
___________________________________________________________________________________________________________________
General Fund
============
Taxes
101-3-0000-3111 Current Ad Valorem Taxes11,187,400.000.000.000.00 11,187,400.00
101-3-0000-3121 Gravel Tax 150,000.00 0.00 14,740.24 9.83 135,259.76
TOTAL Taxes11,337,400.000.0014,740.240.13 11,322,659.76
Licenses & Permits
101-3-0000-3211 Liquor License75,000.0074,200.0075,805.03 101.07 (805.03)
101-3-0000-3213 Cigarette License3,000.000.000.000.003,000.00
101-3-0000-3214 Rental License65,000.004,462.0043,072.00 66.2621,928.00
101-3-0000-3216 Mining License25,000.00330.005,925.80 23.7019,074.20
101-3-0000-3217 Garbage Hauler License2,000.000.00120.006.001,880.00
101-3-0000-3218 Other Business License/Permit14,000.002,280.008,900.00 63.575,100.00
101-3-0000-3229 NPDES Permit18,000.002,625.007,700.00 42.7810,300.00
101-3-0000-3231 Building Permit480,000.0055,456.95131,741.25 27.45348,258.75
101-3-0000-3232 Plumbing/Heating Permit160,000.009,141.3930,357.77 18.97129,642.23
101-3-0000-3233 Permit Surcharge1,000.00961.313,678.85 367.89 (2,678.85)
101-3-0000-3235 Animal License5,000.0050.00450.009.004,550.00
101-3-0000-3237 Other Non-Business Lic/Permit9,000.00 1,690.00 4,300.00 47.78 4,700.00
TOTAL Licenses & Permits857,000.00151,196.65312,050.70 36.41544,949.30
Intergovernmental Rev
101-3-0000-3322 MV Credit5,500.000.000.000.005,500.00
101-3-0000-3323 Fire State Aid182,000.000.002,000.001.10180,000.00
101-3-0000-3324 PERA Aid14,000.000.000.000.0014,000.00
101-3-0000-3325 Police 2% Aid275,000.000.000.000.00275,000.00
101-3-0000-3326 Police Training Reimb30,000.000.000.000.0030,000.00
101-3-0000-3329 State Crime Prevention Grant 65,000.00 0.00 10,126.71 15.58 54,873.29
TOTAL Intergovernmental Rev571,500.000.0012,126.712.12559,373.29
Charges for Services
101-3-0000-3412 Planning & Zoning Fees32,000.005,000.008,567.50 26.7723,432.50
101-3-0000-3413 Plan Check Fee200,000.0023,666.5062,585.93 31.29137,414.07
101-3-0000-3415 Special Assessment Search800.00330.00440.00 55.00360.00
101-3-0000-3417 Copies2,500.00124.66857.68 34.311,642.32
101-3-0000-3418 Other General Govt Services1,500.000.0013.000.871,487.00
101-3-0000-3430 Lockout Fees6,000.00400.002,500.00 41.673,500.00
101-3-0000-3431 Police Services10,000.0020.001,301.25 13.018,698.75
101-3-0000-3432 School Liaison130,000.000.0068,272.50 52.5261,727.50
101-3-0000-3434 Animal Impound Fee4,000.00350.00750.00 18.753,250.00
101-3-0000-3436 Fire Contracts275,000.000.00149,282.00 54.28125,718.00
101-3-0000-3437 Fire Services2,000.00 (20.17)19.830.991,980.17
101-3-0000-3451 Street Services12,000.00660.007,590.00 63.254,410.00
101-3-0000-3452 Engineering Services Reimb130,000.000.001,233.610.95128,766.39
101-3-0000-3461 Recreation Fees78,000.008,330.0043,302.90 55.5234,697.10
101-3-0000-3462 Sr Center Activities44,000.002,846.0017,622.01 40.0526,377.99
6-12-2019 08:14 AMCITY OF ELK RIVERPAGE:
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: MAY 31ST, 2019
101-GENERAL FUND
41.67% OF YEAR COMP.
CURRENTCURRENTYEAR TO DATE% OFBUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGETBALANCE
___________________________________________________________________________________________________________________
101-3-0000-3463 Farmer's Market Fees 0.00 1,190.00 7,369.00 0.00 (7,369.00)
101-3-0000-3472 Park Use Fee 27,000.00 ( 320.00) 10,010.00 37.0716,990.00
101-3-0000-3475 Building Rent 2,400.00 0.00 600.00 25.001,800.00
101-3-0000-3483 Sewer Inspection Fee 11,000.00 780.00 2,685.00 24.418,315.00
101-3-0000-3484 Contractor License Check 1,000.00 140.00 415.00 41.50 585.00
TOTAL Charges for Services 969,200.00 43,496.99 385,417.21 39.77583,782.79
Fines & Forfeits
101-3-0000-3510 Court Fines145,000.0011,180.4645,725.82 31.5499,274.18
101-3-0000-3511 Parking Fines9,500.00 0.00 1,260.00 13.26 8,240.00
TOTAL Fines & Forfeits154,500.0011,180.4646,985.82 30.41107,514.18
Special Assessments_____________ _____________ _____________ _______ _____________
Other Revenue
101-3-0000-3621 Interest Income100,000.000.0040,389.68 40.3959,610.32
101-3-0000-3625 Refunds & Reimbursements130,000.000.00 (12.62) 0.01- 130,012.62
101-3-0000-3626 Contributions23,000.0018,000.0024,000.00 104.35 (1,000.00)
101-3-0000-3629 Miscellaneous Revenue6,500.00 411.32 1,287.72 19.81 5,212.28
TOTAL Other Revenue259,500.0018,411.3265,664.78 25.30193,835.22
Transfers In
101-3-0000-3921 Transfers0.000.00112.310.00 (112.31)
101-3-0000-3925 Transfer-Landfill50,000.000.000.000.0050,000.00
101-3-0000-3926 Transfer-Capital Outlay Reserv14,000.000.000.000.0014,000.00
101-3-0000-3929 Transfer-NSP/RDF Reserve50,000.000.000.000.0050,000.00
101-3-0000-3930 Transfer-Development10,600.000.000.000.0010,600.00
101-3-0000-3942 Transfer-WWTS150,000.000.000.000.00150,000.00
101-3-0000-3943 Transfer-Liquor500,000.000.000.000.00500,000.00
101-3-0000-3944 Transfer-Garbage48,000.000.000.000.0048,000.00
101-3-0000-3945 Transfer-Utilities1,165,000.0082,390.95330,028.58 28.33834,971.42
101-3-0000-3946 Transfer-Stormwater15,000.000.000.000.0015,000.00
101-3-0000-3948 Transfer-EDA38,000.000.000.000.0038,000.00
101-3-0000-3949 Transfer-HRA 31,500.00 0.00 0.00 0.00 31,500.00
TOTAL Transfers In2,072,100.0082,390.95330,140.89 15.93 1,741,959.11
_____________________________________________________________________________
TOTAL General Fund 16,221,200.00 306,676.37 1,167,126.357.20 15,054,073.65
___________________________________________________________________________________________________________________
TOTAL REVENUE16,221,200.00 306,676.37 1,167,126.357.20 15,054,073.65
============= ============= ============= ======= =============
6-12-2019 08:14 AMCITY OF ELK RIVERPAGE:
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: MAY 31ST, 2019
101-GENERAL FUND
FINANCIAL SUMMARY41.67% OF YEAR COMP.
CURRENTCURRENTYEAR TO DATE% OFBUDGET
BUDGETPERIODACTUALBUDGETBALANCE
___________________________________________________________________________________________________________________
REVENUE SUMMARY
General Fund16,221,200.00 306,676.37 1,167,126.35 7.20 15,054,073.65
TOTAL REVENUES16,221,200.00306,676.37 1,167,126.357.20 15,054,073.65
============= ============= ============= ======= =============
EXPENDITURE SUMMARY
General Government
Mayor & Council149,050.003,731.6445,754.21 30.70103,295.79
Communications326,350.0030,343.0298,093.74 30.06228,256.26
Administrative Services531,850.0057,202.02204,489.91 38.45327,360.09
Human Resources280,500.0022,744.2399,893.09 35.61180,606.91
Elections6,800.000.006,300.00 92.65500.00
Finance644,550.00118,523.81303,772.41 47.13340,777.59
Information Technology440,000.0041,690.48168,802.56 38.36271,197.44
Legal230,000.007,318.1080,626.78 35.06149,373.22
Community Development162,750.0017,661.4163,603.21 39.0899,146.79
Planning352,550.0035,157.82128,575.12 36.47223,974.88
Building Maintenance 726,550.00 68,503.91 276,264.34 38.02 450,285.66
TOTAL General Government3,850,950.00402,876.44 1,476,175.37 38.33 2,374,774.63
Public Safety
Police Administration850,250.0071,501.79366,370.83 43.09483,879.17
Patrol2,961,950.00259,576.03 1,029,435.20 34.76 1,932,514.80
Investigations1,086,550.00111,679.03395,742.74 36.42690,807.26
Police Support Services770,750.0081,401.42287,868.78 37.35482,881.22
Police Reserves16,850.00660.582,260.05 13.4114,589.95
Public safety building170,300.003,694.7460,441.41 35.49109,858.59
Fire Administration923,950.0072,776.47290,013.75 31.39633,936.25
Fire Operations408,150.0027,873.99155,597.01 38.12252,552.99
Emergency Management21,800.001,368.403,858.04 17.7017,941.96
Building Safety513,500.0053,594.37201,500.74 39.24311,999.26
Code Enforcement115,700.0010,609.9538,919.10 33.6476,780.90
Environmental 32,450.00 2,918.67 11,250.13 34.67 21,199.87
TOTAL Public Safety7,872,200.00697,655.44 2,843,257.78 36.12 5,028,942.22
Public Works
Street Maintenance1,418,150.00162,768.36496,020.08 34.98922,129.92
Snow Removal279,600.00973.80227,173.64 81.2552,426.36
Equipment Services221,400.0017,601.5383,901.86 37.90137,498.14
Engineering 357,750.00 33,729.88 109,916.91 30.72 247,833.09
TOTAL Public Works2,276,900.00215,073.57917,012.49 40.27 1,359,887.51
6-12-2019 08:14 AMCITY OF ELK RIVERPAGE:
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: MAY 31ST, 2019
101-GENERAL FUND
FINANCIAL SUMMARY41.67% OF YEAR COMP.
CURRENTCURRENTYEAR TO DATE% OFBUDGET
BUDGETPERIODACTUALBUDGETBALANCE
___________________________________________________________________________________________________________________
Culture & Recreation
Parks Department1,147,600.00114,987.81382,779.45 33.35764,820.55
Parks & Rec Admin657,000.0067,832.85258,628.57 39.37398,371.43
Recreation Programs135,000.005,756.0521,655.99 16.04113,344.01
Farmers Market0.00490.60693.560.00 (693.56)
Sr Citizen Programs 250,400.00 18,921.60 70,389.24 28.11 180,010.76
TOTAL Culture & Recreation2,190,000.00207,988.91734,146.81 33.52 1,455,853.19
Economic Development
Economic Development0.007,399.4932,877.080.00 ( 32,877.08)
Energy City 31,150.00 2,925.93 10,508.13 33.73 20,641.87
TOTAL Economic Development31,150.0010,325.4243,385.21 139.28 ( 12,235.21)
General_____________ _____________ _____________ _______ _____________
TOTAL EXPENDITURES16,221,200.00 1,533,919.78 6,013,977.66 37.07 10,207,222.34
============= ============= ============= ======= =============
REVENUES OVER/(UNDER) EXPENDITURES0.00 ( 1,227,243.41)( 4,846,851.31)4,846,851.31
0.00%0.00%8.80%0.00%0.00%0.00%0.00%
33.57%33.57%39.11%48.50%28.55%80.80%80.80%19.57%
24.68%24.25%24.83%
% of
Budget
- - -
960960
2,736
56,01530,000
(15,000)
333,459333,459311,781455,000825,532
(492,073) (491,113) (476,113) (476,113)
Budget
Variance
$
- - - - - -
264
4,0404,040
35,985
Stormwater
168,541168,541 293,569329,818
(161,277) (157,237) (157,237) (157,237)
Actual
$
Year to Date
- - -
3,0005,0005,000
92,00030,000
(15,000)
502,000502,000 605,350455,000
(653,350) (648,350) (633,350) (170,000) (803,350)
1,155,350
Budget
Current
$
0.00%0.00%0.00%0.00%0.00%0.00%
32.67%32.59%39.19%10.66%29.21%29.16%20.44%20.44%
143.99%131.58%
% of
1067.23%
Budget
- - -
3,0001,0004,3764,376
16,11416,439
(21,664) (17,288) (48,000) (65,288) (65,288)
1,106,8451,110,8451,099,9561,132,509
Budget
Variance
$
- - - - - -
Garbage
1,9611,1241,124
10,38670,91472,03872,03872,038
537,155537,155 453,894466,241
Actual
$
Year to Date
- - -
3,0001,0005,5005,5006,7506,750
26,50018,40049,25054,750
(48,000)
1,644,0001,648,000 1,553,8501,598,750
Budget
Current
$
0.00%0.00%8.47%0.00%
-4.00%
33.92%44.61%34.41%34.91%38.76%29.55%16.64%40.16%59.68%98.21%
% of
-27.43%-23.60%-75.28%100.00%
Budget
-
500
(1,040)
58,15841,886
453,813129,455479,852201,620
(226,800) (184,914) (150,000)
1,420,7381,479,3961,575,0002,638,120
(1,158,724) (1,343,638) (1,292,018) (1,293,058)
Budget
Variance
$
- - -
Sewer
7,114
46,84281,94528,11477,958
CITY OF ELK RIVER
(21,000) (56,960)
729,262776,104 243,437201,298526,680249,424256,538298,380554,918
(420,000)
Actual
MONTH ENDED MAY 31, 2019
$
Year to Date
500
ENTERPRISE FUNDS - BUDGET TO ACTUAL
70,000
(58,000)
105,000697,250211,400681,150500,000
(909,300) (247,800) (177,800) (150,000) (737,100) (420,000)
2,150,0002,255,500 1,575,0003,164,800
(1,087,100) (1,215,100)
Budget
Current
$
0.00%0.00%0.00%0.00%0.00%0.00%
39.06%31.91%56.51%44.44%44.44%39.44%73.51%35.91%35.25%47.40%47.40%35.15%
84.70%82.37%
% of
302.78%
Budget
- - - -
1,5001,5005,299
31,56031,560
(64,851)
911,262481,403167,086121,000774,788137,974169,534
(700,000) (530,466) (595,317)
4,396,944
(3,485,682)
Budget
Variance
$
- - - - - -
Liquor
1,2001,200
14,70193,61428,44028,440
(35,149)
313,547421,862763,626792,066792,066756,917
2,817,8061,184,288
Actual
(1,633,518)
$
Year to Date
- - - -
2,7002,700
20,00060,00060,000
794,950260,700121,000901,600961,600261,600161,600
(700,000) (100,000)
7,214,7502,095,5501,196,650
(5,119,200)
Budget
Current
$
Sales and cost of sales: Sales Cost of sales Gross profitOperating revenues: User charges Delinquency collections Other Total operating revenuesOperating expenses: Personal
services Supplies Other service charges Depreciation * Total operating expensesOperating income (loss)Nonoperating revenues (expenses): Interest income Interest expense
Total nonoperating revenues (expenses)Income (loss) before contributions and transfersContributions - connection feesTransfers outNET INCOME (LOSS)Items reclassified to balance sheet
at year end: Capital Outlay Bond PaymentRevenues over/(under) expenditures * Recorded at yearend
PAGE: 1
6-12-2019 08:35 AMCITY OF ELK RIVER
POOLED CASH REPORT (FUND 999)
AS OF: MAY 31ST, 2019
BEGINNINGCURRENTCURRENT
FUND ACCOUNT# ACCOUNT NAME BALANCEACTIVITYBALANCE
__________________________________________________________________________________________________________________
CLAIM ON CASH
002-1010 Cash - Section 1256,719.022,203.408,922.42
101-1010 Cash - General Fund3,831,994.35 ( 1,223,831.56) 2,608,162.79
211-1010 Cash - Library412,818.69 (3,301.31)409,517.38
221-1010 Cash - Ice Arena693,883.82 (36,832.72)657,051.10
222-1010 Cash - Pinewood Golf Course(9,608.51)772.77 (8,835.74)
225-1010 Cash - Park Dedication349,182.090.00349,182.09
228-1010 Cash - Landfill216,902.60 (8,776.22)208,126.38
231-1010 Cash - Landfill Const Debris773,349.040.00773,349.04
240-1010 Cash - Micro Loan Fund846,887.1590,230.61937,117.76
242-1010 Cash - State DEED68,460.614,529.1572,989.76
245-1010 Cash - Development Fund611,099.170.00611,099.17
290-1010 Cash - Capital Outlay Reserve879,319.67 (17,923.91)861,395.76
291-1010 Cash - Insurance Reserve122,690.29 (16,315.54)106,374.75
292-1010 Cash - Govt Bldgs Reserve2,326,855.47 ( 404,506.96) 1,922,348.51
294-1010 Cash - Drug Forfeiture40,430.41 (6,115.35)34,315.06
295-1010 Cash - Severance Pay Reserve75,556.430.0075,556.43
296-1010 Cash - GRE Reserve2,255,653.13 ( 131,099.66) 2,124,553.47
333-1010 Cash - 2010A GO Cap Imp Bonds376,349.45 (500.00)375,849.45
345-1010 Cash - 2012A CIP Bonds-PW(500.00)0.00 (500.00)
401-1010 Cash - Pavement Mgmt5,300,810.48132,296.60 5,433,107.08
403-1010 Cash - Street Improvement743,513.11 (17,012.84)726,500.27
406-1010 Cash - City Wide Trunk Util4,249,683.530.00 4,249,683.53
410-1010 Cash - Equipment Replacement707,318.7118,187.52725,506.23
440-1010 Cash - Park Improvement(12,732.78)(7,733.50)(20,466.28)
463-1010 Cash - TIF #23 Pref Powder3,475.320.003,475.32
464-1010 Cash - TIF #24 Beaudry Truck(4,315.91)0.00 (4,315.91)
602-1010 Cash - Wastewater Treatment4,440,655.12206,407.92 4,647,063.04
603-1010 Cash - Liquor4,549,620.88110,948.37 4,660,569.25
605-1010 Cash - Garbage262,759.9722,090.83284,850.80
607-1010 Cash - Storm Water631,017.6331,069.21662,086.84
801-1010 Cash - Interest0.00110,803.19110,803.19
821-1010 Cash - Developer Escrow 670,752.54 (33,747.20) 637,005.34
TOTAL CLAIM ON CASH35,420,601.48 ( 1,178,157.20) 34,242,444.28
=============== ============== ==============
CASH IN BANK - POOLED CASH
999-1000 A/P BANK ACCOUNTS113,306,212.40312,498.72 113,618,711.12
999-1001 PY BANK ACCOUNT(106,267,800.48)( 1,490,655.92)(107,758,456.40)
999-1002 POOLED INVESTMENTS 28,382,189.56 0.00 28,382,189.56
SUBTOTAL CASH IN BANK - POOLED CASH35,420,601.48 ( 1,178,157.20) 34,242,444.28
WAGES PAYABLE
______________ ______________ ______________
TOTAL CASH IN BANK - POOLED CASH35,420,601.48 ( 1,178,157.20) 34,242,444.28
============== ============== ==============