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INFORMATION 02-18-2020
Information Memorandum To: Mayor and City Council From: Lori Ziemer, Finance Director Date: February 18, 2020 Subject: January 2020 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 January, actual revenues (excluding property taxes and transfers in) and expenditures should run about 8% 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: Property taxes, our largest revenue source, will be received in July and December. License & permit collections are 3% of budget estimates and charges for services are about 2% of estimates. Revenue collections in January are normal for this time of year. Transfers in will be recorded mid-year. Expenditures: Total departmental expenditures are about 6% of budget. January expenditures reflect the first quarter premium for both workers’ comp and liability insurance Also included in many departments’ expenditures are their respective annual software maintenance contracts. ICE ARENA Through the end of January, revenues of $25,489 exceed expenditures of $24,220 by $1,269. The majority of January collections consist of spring hockey registrations and concessions revenues while expenditures are primarily attributable to personal services. ATTACHMENTS General Fund Revenue & Expense Report Enterprise Funds – Budget to Actual Cash Report – All Funds 2-11-2020 03:12 PM CITY OF ELK RIVER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2020 101-GENERAL FUND FINANCIAL SUMMARY 08.33% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ REVENUE SUMMARY General Fund 17,019,600.00 49,291.86 49,291.86 0.29 16,970,308.14 TOTAL REVENUES 17,019,600.00 49,291.86 49,291.86 0.29 16,970,308.14 ============= ============= ============= ======= ============= EXPENDITURE SUMMARY General Government Mayor & Council 163,050.00 12,934.08 12,934.08 7.93 150,115.92 Communications 328,950.00 14,096.03 14,096.03 4.29 314,853.97 Administrative Services 568,850.00 30,343.47 30,343.47 5.33 538,506.53 Human Resources 305,800.00 11,436.74 11,436.74 3.74 294,363.26 Elections 83,200.00 21.51 21.51 0.03 83,178.49 Finance 648,700.00 43,236.97 43,236.97 6.67 605,463.03 Information Technology 556,300.00 14,066.07 14,066.07 2.53 542,233.93 Legal 240,000.00 0.00 0.00 0.00 240,000.00 Community Development 206,650.00 9,128.35 9,128.35 4.42 197,521.65 Planning 352,350.00 17,833.02 17,833.02 5.06 334,516.98 Building Maintenance 767,750.00 39,206.90 39,206.90 5.11 728,543.10 TOTAL General Government 4,221,600.00 192,303.14 192,303.14 4.56 4,029,296.86 Public Safety Police Administration 893,700.00 124,050.59 124,050.59 13.88 769,649.41 Patrol 3,076,800.00 159,364.23 159,364.23 5.18 2,917,435.77 Investigations 1,226,800.00 46,688.71 46,688.71 3.81 1,180,111.29 Police Support Services 801,800.00 35,568.27 35,568.27 4.44 766,231.73 Police Reserves 18,050.00 57.44 57.44 0.32 17,992.56 Public safety building 169,600.00 2,889.39 2,889.39 1.70 166,710.61 Fire Administration 966,800.00 34,972.81 34,972.81 3.62 931,827.19 Fire Operations 410,700.00 19,599.60 19,599.60 4.77 391,100.40 Emergency Management 21,100.00 128.20 128.20 0.61 20,971.80 Building Safety 527,550.00 32,122.71 32,122.71 6.09 495,427.29 Code Enforcement 99,450.00 4,269.65 4,269.65 4.29 95,180.35 Environmental 53,150.00 2,818.14 2,818.14 5.30 50,331.86 TOTAL Public Safety 8,265,500.00 462,529.74 462,529.74 5.60 7,802,970.26 Public Works Street Maintenance 1,386,700.00 43,913.65 43,913.65 3.17 1,342,786.35 Snow Removal 305,900.00 101,348.27 101,348.27 33.13 204,551.73 Equipment Services 231,200.00 10,830.46 10,830.46 4.68 220,369.54 Engineering 385,500.00 19,459.72 19,459.72 5.05 366,040.28 TOTAL Public Works 2,309,300.00 175,552.10 175,552.10 7.60 2,133,747.90 2-11-2020 03:12 PM CITY OF ELK RIVER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2020 101-GENERAL FUND FINANCIAL SUMMARY 08.33% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ Culture & Recreation Parks Department 1,272,700.00 54,801.99 54,801.99 4.31 1,217,898.01 Parks & Rec Admin 592,000.00 43,164.56 43,164.56 7.29 548,835.44 Recreation Programs 129,100.00 1,857.38 1,857.38 1.44 127,242.62 Farmers Market 0.00 21.50 21.50 0.00 ( 21.50) Sr Citizen Programs 201,850.00 8,967.77 8,967.77 4.44 192,882.23 TOTAL Culture & Recreation 2,195,650.00 108,813.20 108,813.20 4.96 2,086,836.80 Economic Development Economic Development 0.00 19,136.65 19,136.65 0.00 ( 19,136.65) Energy City 27,550.00 1,143.57 1,143.57 4.15 26,406.43 TOTAL Economic Development 27,550.00 20,280.22 20,280.22 73.61 7,269.78 General _____________ _____________ _____________ _______ _____________ TOTAL EXPENDITURES 17,019,600.00 959,478.40 959,478.40 5.64 16,060,121.60 ============= ============= ============= ======= ============= REVENUES OVER/(UNDER) EXPENDITURES 0.00 ( 910,186.54)( 910,186.54) 910,186.54 2-11-2020 03:12 PM CITY OF ELK RIVER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2020 101-GENERAL FUND 08.33% 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 11,938,300.00 0.00 0.00 0.00 11,938,300.00 101-3-0000-3121 Gravel Tax 140,000.00 0.00 0.00 0.00 140,000.00 TOTAL Taxes 12,078,300.00 0.00 0.00 0.00 12,078,300.00 Licenses & Permits 101-3-0000-3211 Liquor License 76,000.00 0.00 0.00 0.00 76,000.00 101-3-0000-3213 Cigarette License 3,000.00 0.00 0.00 0.00 3,000.00 101-3-0000-3214 Rental License 65,000.00 6,063.00 6,063.00 9.33 58,937.00 101-3-0000-3216 Mining License 25,000.00 0.00 0.00 0.00 25,000.00 101-3-0000-3217 Garbage Hauler License 2,000.00 360.00 360.00 18.00 1,640.00 101-3-0000-3218 Other Business License/Permit 12,000.00 890.00 890.00 7.42 11,110.00 101-3-0000-3229 NPDES Permit 20,000.00 525.00 525.00 2.63 19,475.00 101-3-0000-3231 Building Permit 475,000.00 12,313.85 12,313.85 2.59 462,686.15 101-3-0000-3232 Plumbing/Heating Permit 110,000.00 4,494.69 4,494.69 4.09 105,505.31 101-3-0000-3233 Permit Surcharge 500.00 721.92 721.92 144.38 ( 221.92) 101-3-0000-3235 Animal License 0.00 315.00 315.00 0.00 ( 315.00) 101-3-0000-3237 Other Non-Business Lic/Permit 10,000.00 1,110.00 1,110.00 11.10 8,890.00 TOTAL Licenses & Permits 798,500.00 26,793.46 26,793.46 3.36 771,706.54 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 200,000.00 0.00 0.00 0.00 200,000.00 101-3-0000-3325 Police 2% Aid 295,000.00 0.00 0.00 0.00 295,000.00 101-3-0000-3326 Police Training Reimb 30,000.00 0.00 0.00 0.00 30,000.00 101-3-0000-3329 State Crime Prevention Grant 60,000.00 0.00 0.00 0.00 60,000.00 101-3-0000-3330 Other State Grants 21,000.00 0.00 0.00 0.00 21,000.00 TOTAL Intergovernmental Rev 611,500.00 0.00 0.00 0.00 611,500.00 Charges for Services 101-3-0000-3412 Planning & Zoning Fees 30,000.00 2,220.00 2,220.00 7.40 27,780.00 101-3-0000-3413 Plan Check Fee 215,000.00 5,814.84 5,814.84 2.70 209,185.16 101-3-0000-3415 Special Assessment Search 500.00 60.00 60.00 12.00 440.00 101-3-0000-3417 Copies 3,000.00 124.00 124.00 4.13 2,876.00 101-3-0000-3418 Other General Govt Services 1,500.00 0.00 0.00 0.00 1,500.00 101-3-0000-3430 Lockout Fees 5,500.00 500.00 500.00 9.09 5,000.00 101-3-0000-3431 Police Services 15,000.00 60.00 60.00 0.40 14,940.00 101-3-0000-3432 School Liaison 149,000.00 0.00 0.00 0.00 149,000.00 101-3-0000-3434 Animal Impound Fee 4,000.00 100.00 100.00 2.50 3,900.00 101-3-0000-3436 Fire Contracts 277,000.00 0.00 0.00 0.00 277,000.00 101-3-0000-3437 Fire Services 2,000.00 0.00 0.00 0.00 2,000.00 101-3-0000-3451 Street Services 18,000.00 710.00 710.00 3.94 17,290.00 101-3-0000-3452 Engineering Services Reimb 75,000.00 0.00 0.00 0.00 75,000.00 101-3-0000-3461 Recreation Fees 80,000.00 1,175.00 1,175.00 1.47 78,825.00 101-3-0000-3462 Sr Center Activities 40,000.00 6,094.00 6,094.00 15.24 33,906.00 2-11-2020 03:12 PM CITY OF ELK RIVER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2020 101-GENERAL FUND 08.33% 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 1,630.00 1,630.00 0.00 ( 1,630.00) 101-3-0000-3472 Park Use Fee 20,000.00 2,865.00 2,865.00 14.33 17,135.00 101-3-0000-3483 Sewer Inspection Fee 11,000.00 520.00 520.00 4.73 10,480.00 101-3-0000-3484 Contractor License Check 1,000.00 15.00 15.00 1.50 985.00 TOTAL Charges for Services 947,500.00 21,887.84 21,887.84 2.31 925,612.16 Fines & Forfeits 101-3-0000-3510 Court Fines 135,000.00 0.00 0.00 0.00 135,000.00 101-3-0000-3511 Parking Fines 5,000.00 150.00 150.00 3.00 4,850.00 TOTAL Fines & Forfeits 140,000.00 150.00 150.00 0.11 139,850.00 Special Assessments 101-3-0000-3610 Special Assmts-County 0.00 401.76 401.76 0.00 ( 401.76) TOTAL Special Assessments 0.00 401.76 401.76 0.00 ( 401.76) Other Revenue 101-3-0000-3621 Interest Income 115,000.00 0.00 0.00 0.00 115,000.00 101-3-0000-3625 Refunds & Reimbursements 130,000.00 0.00 0.00 0.00 130,000.00 101-3-0000-3626 Contributions 25,000.00 0.00 0.00 0.00 25,000.00 101-3-0000-3629 Miscellaneous Revenue 6,500.00 58.80 58.80 0.90 6,441.20 TOTAL Other Revenue 276,500.00 58.80 58.80 0.02 276,441.20 Transfers In 101-3-0000-3930 Transfer-Development 10,600.00 0.00 0.00 0.00 10,600.00 101-3-0000-3942 Transfer-WWTS 155,000.00 0.00 0.00 0.00 155,000.00 101-3-0000-3943 Transfer-Liquor 500,000.00 0.00 0.00 0.00 500,000.00 101-3-0000-3944 Transfer-Garbage 50,000.00 0.00 0.00 0.00 50,000.00 101-3-0000-3945 Transfer-Utilities 1,364,000.00 0.00 0.00 0.00 1,364,000.00 101-3-0000-3946 Transfer-Stormwater 15,500.00 0.00 0.00 0.00 15,500.00 101-3-0000-3948 Transfer-EDA 39,500.00 0.00 0.00 0.00 39,500.00 101-3-0000-3949 Transfer-HRA 32,700.00 0.00 0.00 0.00 32,700.00 TOTAL Transfers In 2,167,300.00 0.00 0.00 0.00 2,167,300.00 _____________________________________________________________________________ TOTAL General Fund 17,019,600.00 49,291.86 49,291.86 0.29 16,970,308.14 ___________________________________________________________________________________________________________________ TOTAL REVENUE 17,019,600.00 49,291.86 49,291.86 0.29 16,970,308.14 ============= ============= ============= ======= ============= Current Budget Year to Date Actual % of Budget Current Budget Year to Date Actual % of Budget Current Budget Year to Date Actual % of Budget Current Budget Year to Date Actual % of Budget Sales and cost of sales: Sales 7,441,000$ 542,374$ 7.29% Cost of sales (5,280,000) (136,797) 2.59% Gross profit 2,161,000 405,577 18.77% Operating revenues: User charges - - - 2,230,000$ -$ 0.00%1,666,000$ 46$ 0.00%550,000$ -$ 0.00% Delinquency collections - - - 500 - 0.00%2,000 - 0.00%- - - Other 4,900 - 0.00%120,000 - 0.00%- - - - - - Total operating revenues 4,900 - 0.00%2,350,500 - 0.00%1,668,000 46 0.00%550,000 - 0.00% Operating expenses: Personal services 902,050 53,514 5.93%723,700 37,816 5.23%28,350 1,642 5.79%98,400 5,111 5.19% Supplies 18,200 3,698 20.32%221,000 1,615 0.73%19,400 1,026 5.29%2,300 - 0.00% Other service charges 268,000 16,847 6.29%668,200 7,451 1.12%1,483,400 4,640 0.31%482,900 11 0.00% Depreciation *123,000 - 0.00%1,641,000 - 0.00%- - - 458,000 - 0.00% Total operating expenses 1,311,250 74,059 5.65%3,253,900 46,882 1.44%1,531,150 7,308 0.48%1,041,600 5,122 0.49% Operating income (loss)854,650 331,518 38.79%(903,400) (46,882) 5.19%136,850 (7,262) -5.31%(491,600) (5,122) 1.04% Nonoperating revenues (expenses): Interest income 60,000 - 0.00%50,000 - 0.00%4,000 - 0.00%3,000 - 0.00% Interest expense - - - (239,300) - 0.00%- - - - - - Total nonoperating revenues (expenses)60,000 - 0.00%(189,300) - 0.00%4,000 - 0.00%3,000 - 0.00% Income (loss) before contributions & transfers 914,650 331,518 36.25%(1,092,700) (46,882) 4.29%140,850 (7,262) -5.16%(488,600) (5,122) 1.05% Contributions - connection fees - - - 100,000 5,200 5.20%- - - - - - Transfers out (700,000) - 0.00%(155,000) - 0.00%(50,000) - 0.00%(15,500) - 0.00% NET INCOME (LOSS)214,650 331,518 154.45%(1,147,700) (41,682) 3.63%90,850 (7,262) -7.99%(504,100) (5,122) 1.02% Items reclassified to balance sheet at year end: Bond Payment - - - (430,000) - - - - - - - - Revenues over/(under) expenditures 214,650 331,518 (1,577,700) (41,682) 90,850 (7,262) (504,100) (5,122) * Recorded at yearend Stormwater CITY OF ELK RIVER ENTERPRISE FUNDS - BUDGET TO ACTUAL MONTH ENDED JANUARY 31, 2020 Liquor Sewer Garbage 2-12-2020 08:13 AM CITY OF ELK RIVER PAGE: 1 POOLED CASH REPORT (FUND 999) AS OF: JANUARY 31ST, 2020 BEGINNING CURRENT CURRENT FUND ACCOUNT# ACCOUNT NAME BALANCE ACTIVITY BALANCE __________________________________________________________________________________________________________________ CLAIM ON CASH 002-1010 Cash - Section 125 12,527.78 ( 11,322.31) 1,205.47 101-1010 Cash - General Fund 7,441,079.86 ( 898,573.49) 6,542,506.37 211-1010 Cash - Library 418,500.44 ( 3,440.02) 415,060.42 221-1010 Cash - Ice Arena 535,085.14 23,443.73 558,528.87 222-1010 Cash - Pinewood Golf Course 874.47 0.00 874.47 225-1010 Cash - Park Dedication 434,180.36 0.00 434,180.36 228-1010 Cash - Landfill 205,316.25 2,725.53 208,041.78 231-1010 Cash - Landfill Const Debris 783,309.35 0.00 783,309.35 240-1010 Cash - Micro Loan Fund 873,449.23 1,655.91 875,105.14 242-1010 Cash - State DEED 105,010.03 4,149.90 109,159.93 245-1010 Cash - Development Fund 857,433.62 3,848.37 861,281.99 290-1010 Cash - Capital Outlay Reserve 1,227,969.80 ( 15,678.67) 1,212,291.13 291-1010 Cash - Insurance Reserve ( 12,648.99) 118,283.35 105,634.36 292-1010 Cash - Govt Bldgs Reserve 2,459,089.56 259,701.55 2,718,791.11 294-1010 Cash - Drug Forfeiture 37,917.69 1,088.96 39,006.65 295-1010 Cash - Severance Pay Reserve 76,529.53 0.00 76,529.53 296-1010 Cash - GRE Reserve 2,073,199.59 5,671.10 2,078,870.69 333-1010 Cash - 2010A GO Cap Imp Bonds 947,749.18 124,788.90 1,072,538.08 343-1010 Cash - 2019A Sales Tax Bonds 177,150.00 195,307.78 372,457.78 401-1010 Cash - Pavement Mgmt 3,964,848.55 95.43 3,964,943.98 403-1010 Cash - Street Improvement 803,112.29 7,599.63 810,711.92 406-1010 Cash - City Wide Trunk Util 4,305,591.69 0.00 4,305,591.69 410-1010 Cash - Equipment Replacement 440,975.82 ( 32,843.75) 408,132.07 420-1010 Cash - Active ER 27,810,028.95 ( 2,830,315.30) 24,979,713.65 440-1010 Cash - Park Improvement 141,310.19 660.00 141,970.19 463-1010 Cash - TIF #23 Pref Powder 4,552.54 16,122.49 20,675.03 602-1010 Cash - Wastewater Treatment 5,253,890.28 110,149.03 5,364,039.31 603-1010 Cash - Liquor 4,656,296.33 ( 87,175.36) 4,569,120.97 605-1010 Cash - Garbage 343,904.59 12,451.33 356,355.92 607-1010 Cash - Storm Water 731,578.94 34,191.48 765,770.42 801-1010 Cash - Interest 38,398.14 59,697.01 98,095.15 821-1010 Cash - Developer Escrow 678,961.22 10,150.00 689,111.22 TOTAL CLAIM ON CASH 67,827,172.42 ( 2,887,567.42) 64,939,605.00 =============== ============== ============== CASH IN BANK - POOLED CASH 999-1000 A/P BANK ACCOUNTS 155,423,149.43 ( 1,764,060.49) 153,659,088.94 999-1001 PY BANK ACCOUNT (115,978,166.57)( 1,123,506.93)(117,101,673.50) 999-1002 POOLED INVESTMENTS 28,382,189.56 0.00 28,382,189.56 SUBTOTAL CASH IN BANK - POOLED CASH 67,827,172.42 ( 2,887,567.42) 64,939,605.00 WAGES PAYABLE ______________ ______________ ______________ TOTAL CASH IN BANK - POOLED CASH 67,827,172.42 ( 2,887,567.42) 64,939,605.00 ============== ============== ==============