Information #1 10-19-2020Information
Memorandum
To: Mayor and City Council
From: Lori Stich, Assistant Finance Director
Date: October 19, 2020
Subject: September 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 Multipurpose Facility Special Revenue Fund, and the
Enterprise Funds. These funds provide an important picture of the city’s financial health.
For the month of September, actual revenues (excluding property taxes and transfers in) and
expenditures should run 75% 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:
License & permit collections are slightly below budget estimate at about 62%, mainly due to
lower than anticipated building permit revenues and liquor license fee credits.
Charges for services are at about 73% of budget with September collections consisting
mainly of youth athletic association field use fees and planning related fees.
Fines and forfeits, which lag a month for collections, are running about 45% of budget.
Transfers in are comprised of ERMU’s 4% August electric revenues.
Expenditures:
Total departmental expenditures are about 65% of budget and most departments are within
or below budget estimates.
Workers’ comp and liability insurance premiums for October-December are reflected in
many departments’ budgets.
MULTIPURPOSE FACILITY
Through the end of September, expenditures of $478,617 exceed revenues of $246,877 by $231,740.
Construction on the multipurpose facility is nearly complete, but building access is still limited due
to COVID restrictions. September revenues consisted mainly of ice rental, building rent, and
concessions.
ATTACHMENTS
General Fund Revenue & Expense Report
Enterprise Funds – Budget to Actual
Cash Report – All Funds
10-15-2020 11:57 AM CITY OF ELK RIVER PAGE: 1
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2020
101-GENERAL FUND
FINANCIAL SUMMARY 75.00% OF YEAR COMP.
CURRENT CURRENT YEAR TO DATE % OF BUDGET
BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________
REVENUE SUMMARY
General Fund 17,019,600.00 218,447.55 9,141,005.53 53.71 7,878,594.47
TOTAL REVENUES 17,019,600.00 218,447.55 9,141,005.53 53.71 7,878,594.47
============= ============= ============= ======= =============
EXPENDITURE SUMMARY
General Government
Mayor & Council 163,050.00 34,194.66 124,085.96 76.10 38,964.04
Communications 328,950.00 20,814.23 195,568.77 59.45 133,381.23
Administrative Services 568,850.00 52,146.20 402,736.97 70.80 166,113.03
Human Resources 305,800.00 17,194.69 213,927.33 69.96 91,872.67
Elections 83,200.00 25.13 52,236.02 62.78 30,963.98
Finance 648,700.00 35,398.96 447,628.24 69.00 201,071.76
Information Technology 556,300.00 44,570.68 321,988.59 57.88 234,311.41
Legal 240,000.00 21,515.20 158,535.65 66.06 81,464.35
Community Development 206,650.00 13,202.72 156,476.91 75.72 50,173.09
Planning 352,350.00 26,748.84 245,026.27 69.54 107,323.73
Building Maintenance 767,750.00 59,793.73 541,337.17 70.51 226,412.83
TOTAL General Government 4,221,600.00 325,605.04 2,859,547.88 67.74 1,362,052.12
Public Safety
Police Administration 893,700.00 82,729.20 666,127.62 74.54 227,572.38
Patrol 3,076,800.00 209,639.64 1,881,665.74 61.16 1,195,134.26
Investigations 1,226,800.00 80,013.94 685,358.17 55.87 541,441.83
Police Support Services 801,800.00 55,266.13 486,962.98 60.73 314,837.02
Police Reserves 18,050.00 458.40 2,117.93 11.73 15,932.07
Public safety building 169,600.00 10,231.72 108,759.83 64.13 60,840.17
Fire Administration 966,800.00 42,455.01 416,838.61 43.12 549,961.39
Fire Operations 410,700.00 29,700.06 303,455.37 73.89 107,244.63
Emergency Management 21,100.00 830.79 23,466.97 111.22 ( 2,366.97)
Building Safety 527,550.00 43,038.77 369,217.76 69.99 158,332.24
Code Enforcement 99,450.00 6,444.25 57,241.08 57.56 42,208.92
Environmental 53,150.00 4,918.81 38,505.42 72.45 14,644.58
TOTAL Public Safety 8,265,500.00 565,726.72 5,039,717.48 60.97 3,225,782.52
Public Works
Street Maintenance 1,386,700.00 101,444.83 1,014,691.84 73.17 372,008.16
Snow Removal 305,900.00 2,134.40 178,241.23 58.27 127,658.77
Equipment Services 231,200.00 15,650.18 158,399.47 68.51 72,800.53
Engineering 385,500.00 20,289.00 226,252.73 58.69 159,247.27
TOTAL Public Works 2,309,300.00 139,518.41 1,577,585.27 68.31 731,714.73
10-15-2020 11:57 AM CITY OF ELK RIVER PAGE: 2
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2020
101-GENERAL FUND
FINANCIAL SUMMARY 75.00% OF YEAR COMP.
CURRENT CURRENT YEAR TO DATE % OF BUDGET
BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________
Culture & Recreation
Parks Department 1,272,700.00 95,271.15 842,050.41 66.16 430,649.59
Parks & Rec Admin 592,000.00 31,475.30 452,890.73 76.50 139,109.27
Recreation Programs 129,100.00 8,318.39 62,842.47 48.68 66,257.53
Farmers Market 0.00 3,113.04 ( 590.44) 0.00 590.44
Sr Citizen Programs 201,850.00 11,134.70 117,904.65 58.41 83,945.35
TOTAL Culture & Recreation 2,195,650.00 149,312.58 1,475,097.82 67.18 720,552.18
Economic Development
Economic Development 0.00 1,313.62 28,448.91 0.00 ( 28,448.91)
Energy City 27,550.00 3,030.39 15,910.01 57.75 11,639.99
TOTAL Economic Development 27,550.00 4,344.01 44,358.92 161.01 ( 16,808.92)
General _______________________________________ _______ _____________
TOTAL EXPENDITURES 17,019,600.00 1,184,506.76 10,996,307.37 64.61 6,023,292.63
============= ============= ============= ======= =============
REVENUES OVER/(UNDER) EXPENDITURES 0.00 ( 966,059.21)( 1,855,301.84) 1,855,301.84
10-15-2020 11:57 AM CITY OF ELK RIVER PAGE: 3
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2020
101-GENERAL FUND
75.00% 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 11,938,300.00 0.00 5,978,653.37 50.08 5,959,646.63
101-3-0000-3112 Delinquent Ad Valorem Taxes 0.00 0.00 35,310.99 0.00 ( 35,310.99)
101-3-0000-3121 Gravel Tax 140,000.00 0.00 67,524.51 48.23 72,475.49
101-3-0000-3131 Penalties/Interest 0.00 0.00 965.31 0.00 ( 965.31)
TOTAL Taxes 12,078,300.00 0.00 6,082,454.18 50.36 5,995,845.82
Licenses & Permits
101-3-0000-3211 Liquor License 76,000.00 ( 10,568.75) 28,867.41 37.98 47,132.59
101-3-0000-3213 Cigarette License 3,000.00 0.00 0.00 0.00 3,000.00
101-3-0000-3214 Rental License 65,000.00 650.00 43,733.00 67.28 21,267.00
101-3-0000-3216 Mining License 25,000.00 0.00 25,760.95 103.04 ( 760.95)
101-3-0000-3217 Garbage Hauler License 2,000.00 125.00 485.00 24.25 1,515.00
101-3-0000-3218 Other Business License/Permit 12,000.00 260.00 10,860.00 90.50 1,140.00
101-3-0000-3229 NPDES Permit 20,000.00 2,100.00 15,253.25 76.27 4,746.75
101-3-0000-3231 Building Permit 475,000.00 39,413.85 292,767.15 61.64 182,232.85
101-3-0000-3232 Plumbing/Heating Permit 110,000.00 10,167.67 55,825.73 50.75 54,174.27
101-3-0000-3233 Permit Surcharge 500.00 ( 157.55) 3,487.57 697.51 ( 2,987.57)
101-3-0000-3235 Animal License 0.00 0.00 465.00 0.00 ( 465.00)
101-3-0000-3237 Other Non-Business Lic/Permit 10,000.00 4,230.00 18,654.00 186.54 ( 8,654.00)
TOTAL Licenses & Permits 798,500.00 46,220.22 496,159.06 62.14 302,340.94
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 2,535.25 1.27 197,464.75
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 29,168.23 97.23 831.77
101-3-0000-3329 State Crime Prevention Grant 60,000.00 0.00 16,244.54 27.07 43,755.46
101-3-0000-3330 Other State Grants 21,000.00 0.00 11,570.11 55.10 9,429.89
TOTAL Intergovernmental Rev 611,500.00 0.00 59,518.13 9.73 551,981.87
Charges for Services
101-3-0000-3412 Planning & Zoning Fees 30,000.00 2,400.00 16,204.19 54.01 13,795.81
101-3-0000-3413 Plan Check Fee 215,000.00 18,697.93 120,358.48 55.98 94,641.52
101-3-0000-3415 Special Assessment Search 500.00 60.00 390.00 78.00 110.00
101-3-0000-3417 Copies 3,000.00 197.08 1,035.15 34.51 1,964.85
101-3-0000-3418 Other General Govt Services 1,500.00 39.00 52.00 3.47 1,448.00
101-3-0000-3430 Lockout Fees 5,500.00 420.00 3,465.00 63.00 2,035.00
101-3-0000-3431 Police Services 15,000.00 956.00 10,953.41 73.02 4,046.59
101-3-0000-3432 School Liaison 149,000.00 0.00 147,072.00 98.71 1,928.00
101-3-0000-3434 Animal Impound Fee 4,000.00 100.00 650.00 16.25 3,350.00
101-3-0000-3436 Fire Contracts 277,000.00 0.00 280,007.80 101.09 ( 3,007.80)
101-3-0000-3437 Fire Services 2,000.00 0.00 6,137.50 306.88 ( 4,137.50)
101-3-0000-3451 Street Services 18,000.00 990.00 21,823.50 121.24 ( 3,823.50)
101-3-0000-3452 Engineering Services Reimb 75,000.00 0.00 13,296.19 17.73 61,703.81
10-15-2020 11:57 AM CITY OF ELK RIVER PAGE: 4
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2020
101-GENERAL FUND
75.00% OF YEAR COMP.
CURRENT CURRENT YEAR TO DATE % OF BUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________
101-3-0000-3461 Recreation Fees 80,000.00 750.00 13,481.00 16.85 66,519.00
101-3-0000-3462 Sr Center Activities 40,000.00 0.00 8,058.00 20.15 31,942.00
101-3-0000-3463 Farmer's Market 0.00 1,167.00 11,722.00 0.00 ( 11,722.00)
101-3-0000-3469 Elk RiverFest 0.00 0.00 500.00 0.00 ( 500.00)
101-3-0000-3472 Park Use Fee 20,000.00 3,018.80 20,236.99 101.18 ( 236.99)
101-3-0000-3483 Sewer Inspection Fee 11,000.00 1,775.00 18,165.00 165.14 ( 7,165.00)
101-3-0000-3484 Contractor License Check 1,000.00 135.00 890.00 89.00 110.00
TOTAL Charges for Services 947,500.00 30,705.81 694,498.21 73.30 253,001.79
Fines & Forfeits
101-3-0000-3510 Court Fines 135,000.00 5,892.17 62,646.98 46.41 72,353.02
101-3-0000-3511 Parking Fines 5,000.00 0.00 150.00 3.00 4,850.00
TOTAL Fines & Forfeits 140,000.00 5,892.17 62,796.98 44.85 77,203.02
Special Assessments _____________ _____________ _____________ _______ _____________
Other Revenue
101-3-0000-3621 Interest Income 115,000.00 0.00 59,153.10 51.44 55,846.90
101-3-0000-3625 Refunds & Reimbursements 130,000.00 ( 1,017.05)( 2,497.19) 1.92- 132,497.19
101-3-0000-3626 Contributions 25,000.00 0.00 0.00 0.00 25,000.00
101-3-0000-3629 Miscellaneous Revenue 6,500.00 412.01 10,245.12 157.62 ( 3,745.12)
TOTAL Other Revenue 276,500.00 ( 605.04) 66,901.03 24.20 209,598.97
Transfers In
101-3-0000-3930 Transfer-Development 10,600.00 0.00 10,600.00 100.00 0.00
101-3-0000-3942 Transfer-WWTS 155,000.00 0.00 155,000.00 100.00 0.00
101-3-0000-3943 Transfer-Liquor 500,000.00 0.00 500,000.00 100.00 0.00
101-3-0000-3944 Transfer-Garbage 50,000.00 0.00 50,000.00 100.00 0.00
101-3-0000-3945 Transfer-Utilities 1,364,000.00 136,234.39 867,377.94 63.59 496,622.06
101-3-0000-3946 Transfer-Stormwater 15,500.00 0.00 15,500.00 100.00 0.00
101-3-0000-3948 Transfer-EDA 39,500.00 0.00 39,500.00 100.00 0.00
101-3-0000-3949 Transfer-HRA 32,700.00 0.00 40,700.00 124.46 ( 8,000.00)
TOTAL Transfers In 2,167,300.00 136,234.39 1,678,677.94 77.45 488,622.06
_____________________________________________________________________________
TOTAL General Fund 17,019,600.00 218,447.55 9,141,005.53 53.71 7,878,594.47
___________________________________________________________________________________________________________________
TOTAL REVENUE 17,019,600.00 218,447.55 9,141,005.53 53.71 7,878,594.47
============= ============= ============= ======= =============
-----
0.00%5.77%0.00%9.28%
68.12%68.14%69.89%
% of
-56.59%-58.64%-53.76%
277.30%277.30%100.00%
Budget
------
149
8,319 8,319
68,772 27,843 96,614
(15,500)
374,643374,792 278,177286,496270,996270,996
Actual
$
Year to Date
Stormwater
-----
2,300 3,000 3,000
98,400
(15,500)
550,000550,000 482,900458,000
(491,600)(488,600)(504,100)(504,100)
1,041,600
Budget
Current
$
-----
67.18%32.40%67.14%75.66%93.05%67.01%67.50%63.17%97.25%97.25%64.14%44.41%
% of
100.00%
Budget
-----
648
3,890 3,890
21,450 18,052 86,454 90,344 40,344 40,344
(50,000)
993,993
Actual
1,119,3011,119,949 1,033,495
$
Year to Date
Garbage
-----
2,000 4,000 4,000
28,350 19,400 90,850 90,850
(50,000)
136,850140,850
1,666,0001,668,000 1,483,4001,531,150
Budget
Current
$
-
0.00%
68.42%97.00%70.69%66.27%82.34%77.91%36.33%57.79%46.32%
% of
-53.06%-35.84%-66.96%
112.69%101.22%531.78%100.00%
Budget
-
485
50,610
(87,693)
135,231479,570181,971520,573479,368391,675531,783768,458338,458
(138,303)(155,000)(430,000)
Actual
1,525,7661,661,481 1,182,114
Sewer
$
Year to Date
500
50,000
120,000723,700221,000668,200100,000
CITY OF ELK RIVER
(903,400)(239,300)(189,300)(155,000)(430,000)
2,230,0002,350,500 1,641,0003,253,900
Budget
Current
(1,092,700)(1,147,700)(1,577,700)
$
MONTH ENDED SEPTEMBER, 2020
-----
ENTERPRISE FUNDS - BUDGET TO ACTUAL
0.00%
74.52%70.69%83.87%36.73%36.73%72.86%90.54%70.05%76.19%76.19%86.73%
% of
104.79%102.92%
102.52%107.88%
Budget
------
1,800 1,800
18,659 45,711 45,711
657,262242,655918,576895,607941,318186,171186,171
(755,147)
Actual
5,544,7491,812,383
(3,732,366)
Liquor
$
Year to Date
-----
4,900 4,900
18,200 60,000 60,000
902,050268,000123,000854,650914,650214,650214,650
(700,000)
7,441,0002,161,0001,311,250
Current
Budget
(5,280,000)
$
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 & transfersContributions - connection feesTransfers outNET INCOME (LOSS)Items reclassified to balance sheet
at year end: Bond PaymentRevenues over/(under) expenditures * Recorded at yearend
10-15-2020 12:03 PM CITY OF ELK RIVER PAGE: 1
POOLED CASH REPORT (FUND 999)
AS OF: SEPTEMBER 30TH, 2020
BEGINNING CURRENT CURRENT
FUND ACCOUNT# ACCOUNT NAME BALANCE ACTIVITY BALANCE
__________________________________________________________________________________________________________________
CLAIM ON CASH
002-1010 Cash - Section 125 13,898.89 2,185.30 16,084.19
101-1010 Cash - General Fund 6,778,639.53 ( 980,908.35) 5,797,731.18
211-1010 Cash - Library 422,790.70 ( 5,973.89) 416,816.81
219-1010 Cash - Coronavirus Relief 1,799,052.48 ( 68,721.12) 1,730,331.36
221-1010 Cash - Multipurpose Facility 404,400.81 ( 58,289.05) 346,111.76
222-1010 Cash - Pinewood Golf Course ( 61.25) 0.00 ( 61.25)
225-1010 Cash - Park Dedication 515,997.55 1,425.93 517,423.48
228-1010 Cash - Landfill 201,801.12 ( 2,689.71) 199,111.41
231-1010 Cash - Landfill Const Debris 791,500.21 0.00 791,500.21
240-1010 Cash - Micro Loan Fund 812,568.07 2,457.11 815,025.18
242-1010 Cash - State DEED 138,903.86 4,149.90 143,053.76
245-1010 Cash - Development Fund 995,602.28 ( 16,705.86) 978,896.42
290-1010 Cash - Capital Outlay Reserve 1,252,673.19 34,864.12 1,287,537.31
291-1010 Cash - Insurance Reserve 53,993.28 ( 11,751.34) 42,241.94
292-1010 Cash - Govt Bldgs Reserve 2,726,899.35 95,888.45 2,822,787.80
294-1010 Cash - Drug Forfeiture 47,801.64 ( 10,341.08) 37,460.56
295-1010 Cash - Severance Pay Reserve 77,329.74 0.00 77,329.74
296-1010 Cash - GRE Reserve 1,944,631.76 ( 4,246.00) 1,940,385.76
333-1010 Cash - 2010A GO Cap Imp Bonds 692,011.09 0.00 692,011.09
343-1010 Cash - 2019A Sales Tax Bonds 1,202,763.00 388,021.34 1,590,784.34
401-1010 Cash - Pavement Mgmt 5,099,560.77 ( 20,282.00) 5,079,278.77
403-1010 Cash - Street Improvement 801,223.48 ( 16,281.49) 784,941.99
406-1010 Cash - City Wide Trunk Util 4,362,799.12 ( 169,265.29) 4,193,533.83
410-1010 Cash - Equipment Replacement 345,848.20 ( 173,412.15) 172,436.05
420-1010 Cash - Active ER 8,549,115.70 ( 695,080.29) 7,854,035.41
440-1010 Cash - Park Improvement 12,732.83 ( 62,387.64)( 49,654.81)
463-1010 Cash - TIF #23 Pref Powder 5,096.90 0.00 5,096.90
464-1010 Cash - TIF #24 Beaudry Truck 1,954.36 0.00 1,954.36
602-1010 Cash - Wastewater Treatment 5,516,639.70 94,862.37 5,611,502.07
603-1010 Cash - Liquor 4,445,830.62 ( 21,602.52) 4,424,228.10
605-1010 Cash - Garbage 390,211.93 13,941.82 404,153.75
607-1010 Cash - Storm Water 1,004,442.88 37,735.19 1,042,178.07
801-1010 Cash - Interest 129,655.96 45,542.94 175,198.90
821-1010 Cash - Developer Escrow 678,326.12 59,578.35 737,904.47
TOTAL CLAIM ON CASH 52,216,635.87 ( 1,537,284.96) 50,679,350.91
=============== ============== ==============
CASH IN BANK - POOLED CASH
999-1000 A/P BANK ACCOUNTS 148,942,632.35 ( 469,591.44) 148,473,040.91
999-1001 PY BANK ACCOUNT (125,108,186.04)( 1,067,693.52)(126,175,879.56)
999-1002 POOLED INVESTMENTS 28,382,189.56 0.00 28,382,189.56
SUBTOTAL CASH IN BANK - POOLED CASH 52,216,635.87 ( 1,537,284.96) 50,679,350.91