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Information 2 07-15-2019
Information Memorandum To: Mayor and City Council From: Jesse Dorn, Assistant Finance Director Date: July 15, 2019 Subject: June 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 June, actual revenues (excluding property taxes and transfers in) and expenditures should run about 50% 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: June revenue collections consist of the 70% advance of the first half property tax settlement. The remaining balance will be received in July. Licenses and permits are slightly below budget estimate at 48%, with building-related permits comprising the majority of collections. Charges for services are 60% of budget estimate, with much of the increase attributable to the second half payment of Otsego’s fire services contract. Fines and forfeits, which lag a month for collections, are running 38% of budget. Transfers in are comprised of ERMU’s 4% electric revenues through May 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$7,245$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 45% of budget and most departments are within or below budget estimates. ICE ARENA Through the end of June, revenues of $376,625 exceed expenditures of $351,107 by $25,518, with ice rental and breakaway hockey registrations making up the majority of revenues. Ice rental revenues are 37% of budget estimates. ATTACHMENTS General Fund Revenue & Expense Report Enterprise Funds – Budget to Actual Cash Report – All Funds 7-10-2019 05:04 PM CITY OF ELK RIVER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JUNE 30TH, 2019 101-GENERAL FUND FINANCIAL SUMMARY 50.00% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ REVENUE SUMMARY General Fund 16,221,200.00 4,371,608.93 5,550,295.50 34.22 10,670,904.50 TOTAL REVENUES 16,221,200.00 4,371,608.93 5,550,295.50 34.22 10,670,904.50 ============= ============= ============= ======= ============= EXPENDITURE SUMMARY General Government Mayor & Council 149,050.00 3,527.61 49,281.82 33.06 99,768.18 Communications 326,350.00 24,782.76 122,876.50 37.65 203,473.50 Administrative Services 531,850.00 43,133.43 247,623.34 46.56 284,226.66 Human Resources 280,500.00 33,164.64 133,057.73 47.44 147,442.27 Elections 6,800.00 0.00 6,300.00 92.65 500.00 Finance 644,550.00 44,841.60 348,614.01 54.09 295,935.99 Information Technology 440,000.00 32,763.08 201,565.64 45.81 238,434.36 Legal 230,000.00 44,305.49 124,932.27 54.32 105,067.73 Community Development 162,750.00 12,339.84 75,943.05 46.66 86,806.95 Planning 352,550.00 26,289.25 154,864.37 43.93 197,685.63 Building Maintenance 726,550.00 53,299.52 329,563.86 45.36 396,986.14 TOTAL General Government 3,850,950.00 318,447.22 1,794,622.59 46.60 2,056,327.41 Public Safety Police Administration 850,250.00 74,362.18 439,947.40 51.74 410,302.60 Patrol 2,961,950.00 187,995.92 1,205,057.62 40.68 1,756,892.38 Investigations 1,086,550.00 80,261.96 476,790.31 43.88 609,759.69 Police Support Services 770,750.00 58,757.47 346,626.25 44.97 424,123.75 Police Reserves 16,850.00 68.63 2,328.68 13.82 14,521.32 Public safety building 170,300.00 9,283.36 69,724.77 40.94 100,575.23 Fire Administration 923,950.00 57,864.55 347,878.30 37.65 576,071.70 Fire Operations 408,150.00 51,919.45 207,516.46 50.84 200,633.54 Emergency Management 21,800.00 4,080.09 7,938.13 36.41 13,861.87 Building Safety 513,500.00 57,706.40 259,207.14 50.48 254,292.86 Code Enforcement 115,700.00 7,287.65 46,206.75 39.94 69,493.25 Environmental 32,450.00 2,878.40 14,128.53 43.54 18,321.47 TOTAL Public Safety 7,872,200.00 592,466.06 3,423,350.34 43.49 4,448,849.66 Public Works Street Maintenance 1,418,150.00 110,733.95 606,754.03 42.78 811,395.97 Snow Removal 279,600.00 2,031.21 229,204.85 81.98 50,395.15 Equipment Services 221,400.00 12,824.93 96,211.57 43.46 125,188.43 Engineering 357,750.00 27,847.84 137,764.75 38.51 219,985.25 TOTAL Public Works 2,276,900.00 153,437.93 1,069,935.20 46.99 1,206,964.80 7-10-2019 05:04 PM CITY OF ELK RIVER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JUNE 30TH, 2019 101-GENERAL FUND FINANCIAL SUMMARY 50.00% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ Culture & Recreation Parks Department 1,147,600.00 96,688.60 479,468.05 41.78 668,131.95 Parks & Rec Admin 657,000.00 49,368.58 307,997.15 46.88 349,002.85 Recreation Programs 135,000.00 18,369.10 40,025.09 29.65 94,974.91 Farmers Market 0.00 1,041.79 1,750.35 0.00 ( 1,750.35) Sr Citizen Programs 250,400.00 16,396.88 86,786.12 34.66 163,613.88 TOTAL Culture & Recreation 2,190,000.00 181,864.95 916,026.76 41.83 1,273,973.24 Economic Development Economic Development 0.00 ( 4,238.66) 28,638.42 0.00 ( 28,638.42) Energy City 31,150.00 2,122.73 12,630.86 40.55 18,519.14 TOTAL Economic Development 31,150.00 ( 2,115.93) 41,269.28 132.49 ( 10,119.28) General _____________ _____________ _____________ _______ _____________ TOTAL EXPENDITURES 16,221,200.00 1,244,100.23 7,245,204.17 44.67 8,975,995.83 ============= ============= ============= ======= ============= REVENUES OVER/(UNDER) EXPENDITURES 0.00 3,127,508.70 ( 1,694,908.67) 1,694,908.67 7-10-2019 05:04 PM CITY OF ELK RIVER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JUNE 30TH, 2019 101-GENERAL FUND 50.00% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ General Fund ============ Taxes 101-3-0000-3111 Current Ad Valorem Taxes 11,187,400.00 3,982,564.51 3,982,564.51 35.60 7,204,835.49 101-3-0000-3121 Gravel Tax 150,000.00 0.00 14,740.24 9.83 135,259.76 TOTAL Taxes 11,337,400.00 3,982,564.51 3,997,304.75 35.26 7,340,095.25 Licenses & Permits 101-3-0000-3211 Liquor License 75,000.00 595.00 76,400.03 101.87 ( 1,400.03) 101-3-0000-3213 Cigarette License 3,000.00 0.00 0.00 0.00 3,000.00 101-3-0000-3214 Rental License 65,000.00 1,925.00 44,997.00 69.23 20,003.00 101-3-0000-3216 Mining License 25,000.00 18,910.35 24,836.15 99.34 163.85 101-3-0000-3217 Garbage Hauler License 2,000.00 0.00 120.00 6.00 1,880.00 101-3-0000-3218 Other Business License/Permit 14,000.00 40.00 8,940.00 63.86 5,060.00 101-3-0000-3229 NPDES Permit 18,000.00 4,200.00 11,900.00 66.11 6,100.00 101-3-0000-3231 Building Permit 480,000.00 53,658.10 185,399.35 38.62 294,600.65 101-3-0000-3232 Plumbing/Heating Permit 160,000.00 14,486.94 44,844.71 28.03 115,155.29 101-3-0000-3233 Permit Surcharge 1,000.00 100.52 3,779.37 377.94 ( 2,779.37) 101-3-0000-3235 Animal License 5,000.00 0.00 450.00 9.00 4,550.00 101-3-0000-3237 Other Non-Business Lic/Permit 9,000.00 1,080.00 5,380.00 59.78 3,620.00 TOTAL Licenses & Permits 857,000.00 94,995.91 407,046.61 47.50 449,953.39 Intergovernmental Rev 101-3-0000-3322 MV Credit 5,500.00 0.00 0.00 0.00 5,500.00 101-3-0000-3323 Fire State Aid 182,000.00 0.00 2,000.00 1.10 180,000.00 101-3-0000-3324 PERA Aid 14,000.00 0.00 0.00 0.00 14,000.00 101-3-0000-3325 Police 2% Aid 275,000.00 0.00 0.00 0.00 275,000.00 101-3-0000-3326 Police Training Reimb 30,000.00 0.00 0.00 0.00 30,000.00 101-3-0000-3329 State Crime Prevention Grant 65,000.00 0.00 10,126.71 15.58 54,873.29 TOTAL Intergovernmental Rev 571,500.00 0.00 12,126.71 2.12 559,373.29 Charges for Services 101-3-0000-3412 Planning & Zoning Fees 32,000.00 1,265.00 9,832.50 30.73 22,167.50 101-3-0000-3413 Plan Check Fee 200,000.00 27,202.29 89,788.22 44.89 110,211.78 101-3-0000-3415 Special Assessment Search 800.00 30.00 470.00 58.75 330.00 101-3-0000-3417 Copies 2,500.00 105.87 963.55 38.54 1,536.45 101-3-0000-3418 Other General Govt Services 1,500.00 639.00 652.00 43.47 848.00 101-3-0000-3430 Lockout Fees 6,000.00 400.00 2,900.00 48.33 3,100.00 101-3-0000-3431 Police Services 10,000.00 1,592.50 2,893.75 28.94 7,106.25 101-3-0000-3432 School Liaison 130,000.00 0.00 68,272.50 52.52 61,727.50 101-3-0000-3434 Animal Impound Fee 4,000.00 325.00 1,075.00 26.88 2,925.00 101-3-0000-3436 Fire Contracts 275,000.00 120,547.00 269,829.00 98.12 5,171.00 101-3-0000-3437 Fire Services 2,000.00 0.00 19.83 0.99 1,980.17 101-3-0000-3451 Street Services 12,000.00 1,533.00 9,123.00 76.03 2,877.00 101-3-0000-3452 Engineering Services Reimb 130,000.00 23,082.74 24,316.35 18.70 105,683.65 101-3-0000-3461 Recreation Fees 78,000.00 8,370.50 51,963.19 66.62 26,036.81 101-3-0000-3462 Sr Center Activities 44,000.00 2,120.00 19,742.01 44.87 24,257.99 7-10-2019 05:04 PM CITY OF ELK RIVER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JUNE 30TH, 2019 101-GENERAL FUND 50.00% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ 101-3-0000-3463 Farmer's Market Fees 0.00 3,050.00 10,456.97 0.00 ( 10,456.97) 101-3-0000-3469 Other Sales - RiverFest 0.00 180.00 180.00 0.00 ( 180.00) 101-3-0000-3472 Park Use Fee 27,000.00 ( 140.00) 9,915.00 36.72 17,085.00 101-3-0000-3475 Building Rent 2,400.00 0.00 600.00 25.00 1,800.00 101-3-0000-3483 Sewer Inspection Fee 11,000.00 1,755.00 4,440.00 40.36 6,560.00 101-3-0000-3484 Contractor License Check 1,000.00 185.00 600.00 60.00 400.00 TOTAL Charges for Services 969,200.00 192,242.90 578,032.87 59.64 391,167.13 Fines & Forfeits 101-3-0000-3510 Court Fines 145,000.00 11,060.08 56,785.90 39.16 88,214.10 101-3-0000-3511 Parking Fines 9,500.00 0.00 1,260.00 13.26 8,240.00 TOTAL Fines & Forfeits 154,500.00 11,060.08 58,045.90 37.57 96,454.10 Special Assessments _____________ _____________ _____________ _______ _____________ Other Revenue 101-3-0000-3621 Interest Income 100,000.00 0.00 51,577.14 51.58 48,422.86 101-3-0000-3625 Refunds & Reimbursements 130,000.00 ( 600.30)( 612.92) 0.47- 130,612.92 101-3-0000-3626 Contributions 23,000.00 0.00 24,000.00 104.35 ( 1,000.00) 101-3-0000-3629 Miscellaneous Revenue 6,500.00 729.83 2,017.55 31.04 4,482.45 TOTAL Other Revenue 259,500.00 129.53 76,981.77 29.67 182,518.23 Transfers In 101-3-0000-3921 Transfers 0.00 0.00 112.31 0.00 ( 112.31) 101-3-0000-3925 Transfer-Landfill 50,000.00 0.00 0.00 0.00 50,000.00 101-3-0000-3926 Transfer-Capital Outlay Reserv 14,000.00 0.00 0.00 0.00 14,000.00 101-3-0000-3929 Transfer-NSP/RDF Reserve 50,000.00 0.00 0.00 0.00 50,000.00 101-3-0000-3930 Transfer-Development 10,600.00 0.00 0.00 0.00 10,600.00 101-3-0000-3942 Transfer-WWTS 150,000.00 0.00 0.00 0.00 150,000.00 101-3-0000-3943 Transfer-Liquor 500,000.00 0.00 0.00 0.00 500,000.00 101-3-0000-3944 Transfer-Garbage 48,000.00 0.00 0.00 0.00 48,000.00 101-3-0000-3945 Transfer-Utilities 1,165,000.00 90,616.00 420,644.58 36.11 744,355.42 101-3-0000-3946 Transfer-Stormwater 15,000.00 0.00 0.00 0.00 15,000.00 101-3-0000-3948 Transfer-EDA 38,000.00 0.00 0.00 0.00 38,000.00 101-3-0000-3949 Transfer-HRA 31,500.00 0.00 0.00 0.00 31,500.00 TOTAL Transfers In 2,072,100.00 90,616.00 420,756.89 20.31 1,651,343.11 _____________________________________________________________________________ TOTAL General Fund 16,221,200.00 4,371,608.93 5,550,295.50 34.22 10,670,904.50 ___________________________________________________________________________________________________________________ TOTAL REVENUE 16,221,200.00 4,371,608.93 5,550,295.50 34.22 10,670,904.50 ============= ============= ============= ======= ============= 0.00%0.00%8.80%0.00%0.00%0.40%0.00% 42.04%42.04%46.70%48.53%29.17%14.89% 19.28%18.47%18.89% % of 123.48%123.48% Budget - - - 2,736 (1,174) (1,174) 49,03629,881 (15,000) 290,953290,953311,589455,000818,361 (527,408) (528,582) (513,701) (513,701) Budget Variance $ - - - - - 264119 6,1746,174 42,964 Stormwater 211,047211,047 293,761336,989 (125,942) (119,768) (119,649) (119,649) 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% 41.08%40.99%46.76%90.89%35.73%36.55%37.15%37.15% 185.18%170.31% % of 1381.42% Budget - - - 842 3,0001,6773,4573,457 14,109 (41,953) (38,496) (48,000) (86,496) (86,496) 968,645972,487998,654 1,014,440 Budget Variance $ - - - - - 158 Garbage 2,0432,043 12,39116,72391,20393,24693,24693,246 675,355675,513 555,196584,310 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% 42.28%68.23%43.48%42.22%48.49%39.62%21.07%61.56%82.56% -12.42% % of -34.52%-30.91%201.28%100.00% Budget -101.59% - 500 33,35726,90987,22058,745 402,853108,891411,267 (226,800) (199,891) (150,000) 1,240,9331,274,7901,575,0002,498,011 (1,223,221) (1,423,112) (1,485,892) (1,427,147) Budget Variance $ - - - Sewer 71,64343,09122,091 CITY OF ELK RIVER (21,000) 909,067980,710 294,397102,509269,883666,789313,921336,012412,780748,792212,047 (116,745) (420,000) Actual MONTH ENDED JUNE 30, 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% 48.64%42.40%63.88%44.44%44.44%47.34%84.86%43.52%42.35%72.43%72.43%30.69%35.15% 92.41%91.16% % of 252.97% Budget - - - - 1,5001,5003,028 68,42516,54016,54084,965 (64,851) 756,846418,656147,237121,000689,921 (485,145) (400,180) (465,031) 3,705,299 (2,948,453) Budget Variance $ - - - - - Liquor 1,2001,200 16,97243,46043,460 (35,149) 376,294113,463506,729833,175876,635661,780626,631 (214,855) 3,509,4511,338,704 Actual (2,170,747) $ 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 7-10-2019 05:25 PM CITY OF ELK RIVER PAGE: 1 POOLED CASH REPORT (FUND 999) AS OF: JUNE 30TH, 2019 BEGINNING CURRENT CURRENT FUND ACCOUNT# ACCOUNT NAME BALANCE ACTIVITY BALANCE __________________________________________________________________________________________________________________ CLAIM ON CASH 002-1010 Cash - Section 125 8,922.42 1,834.20 10,756.62 101-1010 Cash - General Fund 2,620,223.23 3,222,664.30 5,842,887.53 211-1010 Cash - Library 410,787.11 17,217.79 428,004.90 221-1010 Cash - Ice Arena 659,168.77 ( 27,158.00) 632,010.77 222-1010 Cash - Pinewood Golf Course ( 9,125.53) 0.00 ( 9,125.53) 225-1010 Cash - Park Dedication 350,307.47 14,259.30 364,566.77 228-1010 Cash - Landfill 208,797.16 ( 12,675.80) 196,121.36 231-1010 Cash - Landfill Const Debris 775,841.47 0.00 775,841.47 240-1010 Cash - Micro Loan Fund 940,138.04 3,776.31 943,914.35 242-1010 Cash - State DEED 73,225.06 4,529.15 77,754.21 245-1010 Cash - Development Fund 613,068.72 57,023.88 670,092.60 290-1010 Cash - Capital Outlay Reserve 864,171.99 ( 2,183.04) 861,988.95 291-1010 Cash - Insurance Reserve 106,717.54 ( 11,070.72) 95,646.82 292-1010 Cash - Govt Bldgs Reserve 1,928,544.21 247,531.29 2,176,075.50 294-1010 Cash - Drug Forfeiture 34,425.69 ( 439.07) 33,986.62 295-1010 Cash - Severance Pay Reserve 75,799.94 0.00 75,799.94 296-1010 Cash - GRE Reserve 2,131,400.82 ( 15,536.56) 2,115,864.26 333-1010 Cash - 2010A GO Cap Imp Bonds 377,060.83 167,378.40 544,439.23 345-1010 Cash - 2012A CIP Bonds-PW ( 500.00) 0.00 ( 500.00) 401-1010 Cash - Pavement Mgmt 5,450,617.73 ( 884,703.56) 4,565,914.17 403-1010 Cash - Street Improvement 728,841.78 397.45 729,239.23 406-1010 Cash - City Wide Trunk Util 4,263,380.08 0.00 4,263,380.08 410-1010 Cash - Equipment Replacement 727,844.50 ( 170,854.63) 556,989.87 440-1010 Cash - Park Improvement ( 20,466.28) 225,519.00 205,052.72 463-1010 Cash - TIF #23 Pref Powder 3,475.32 0.00 3,475.32 464-1010 Cash - TIF #24 Beaudry Truck ( 4,315.91)( 129.93)( 4,445.84) 602-1010 Cash - Wastewater Treatment 4,661,525.10 111,040.30 4,772,565.40 603-1010 Cash - Liquor 4,675,590.07 ( 196,083.67) 4,479,506.40 605-1010 Cash - Garbage 285,768.87 20,290.22 306,059.09 607-1010 Cash - Storm Water 664,220.71 35,453.99 699,674.70 801-1010 Cash - Interest 0.00 3,642.99 3,642.99 821-1010 Cash - Developer Escrow 637,005.34 4,432.00 641,437.34 TOTAL CLAIM ON CASH 34,242,462.25 2,816,155.59 37,058,617.84 =============== ============== ============== CASH IN BANK - POOLED CASH 999-1000 A/P BANK ACCOUNTS 113,618,729.09 3,775,868.69 117,394,597.78 999-1001 PY BANK ACCOUNT (107,758,456.40)( 959,713.10)(108,718,169.50) 999-1002 POOLED INVESTMENTS 28,382,189.56 0.00 28,382,189.56 SUBTOTAL CASH IN BANK - POOLED CASH 34,242,462.25 2,816,155.59 37,058,617.84 WAGES PAYABLE ____________________________ ______________ TOTAL CASH IN BANK - POOLED CASH 34,242,462.25 2,816,155.59 37,058,617.84 ============== ============== ==============