Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
INFORMATION 11-16-2020
Information Memorandum To: Mayor and City Council From: Lori Ziemer, Finance Director Date: November 16, 2020 Subject: October 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 October, actual revenues (excluding property taxes and transfers in) and expenditures should run about 83% 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 about 74% of budget estimate. October collections consist mainly of building-related permits. Intergovernmental revenues consist of fire and police state aid and the third quarter crime prevention grant reimbursement. Charges for services are at about 78% of budget with October collections consisting mainly of planning related fees. Fines and forfeits, which lag a month for collections, are running 49% of budget. Transfers in are comprised of ERMU’s 4% September electric revenues. Expenditures: Total departmental expenditures are about 75% of budget and most departments are within or below budget estimates. MULTIPURPOSE FACILITY Through the end of October, expenditures of $584,295 exceed revenues of $298,814 by $285,481. With limited operations due to COVID restrictions, October revenues consist mainly of ice rentals. ATTACHMENTS General Fund Revenue & Expense Report Enterprise Funds – Budget to Actual Cash Report – All Funds 11-12-2020 03:31 PM CITY OF ELK RIVER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: OCTOBER 31ST, 2020 101-GENERAL FUND FINANCIAL SUMMARY 83.33% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ REVENUE SUMMARY General Fund 17,019,600.00 813,768.74 10,473,721.49 61.54 6,545,878.51 TOTAL REVENUES 17,019,600.00 813,768.74 10,473,721.49 61.54 6,545,878.51 ============= ============= ============= ======= ============= EXPENDITURE SUMMARY General Government Mayor & Council 163,050.00 4,965.84 129,051.80 79.15 33,998.20 Communications 328,950.00 31,649.82 227,218.59 69.07 101,731.41 Administrative Services 568,850.00 61,518.09 464,256.39 81.61 104,593.61 Human Resources 305,800.00 24,546.24 238,473.57 77.98 67,326.43 Elections 83,200.00 2,751.06 55,230.62 66.38 27,969.38 Finance 648,700.00 49,870.23 497,498.47 76.69 151,201.53 Information Technology 556,300.00 46,330.22 368,318.81 66.21 187,981.19 Legal 240,000.00 18,007.64 176,543.29 73.56 63,456.71 Community Development 206,650.00 18,605.29 175,082.20 84.72 31,567.80 Planning 352,350.00 38,673.40 283,699.67 80.52 68,650.33 Building Maintenance 767,750.00 71,085.46 612,422.63 79.77 155,327.37 TOTAL General Government 4,221,600.00 368,003.29 3,227,796.04 76.46 993,803.96 Public Safety Police Administration 893,700.00 68,656.02 734,996.70 82.24 158,703.30 Patrol 3,076,800.00 297,206.20 2,178,871.94 70.82 897,928.06 Investigations 1,226,800.00 121,855.16 807,213.33 65.80 419,586.67 Police Support Services 801,800.00 76,714.22 563,677.20 70.30 238,122.80 Police Reserves 18,050.00 0.00 2,117.93 11.73 15,932.07 Public safety building 169,600.00 9,670.27 118,430.10 69.83 51,169.90 Fire Administration 966,800.00 260,545.69 677,507.29 70.08 289,292.71 Fire Operations 410,700.00 24,757.42 328,212.79 79.92 82,487.21 Emergency Management 21,100.00 570.01 24,036.98 113.92 ( 2,936.98) Building Safety 527,550.00 48,210.89 417,428.65 79.13 110,121.35 Code Enforcement 99,450.00 8,336.07 65,577.15 65.94 33,872.85 Environmental 53,150.00 6,390.73 44,896.15 84.47 8,253.85 TOTAL Public Safety 8,265,500.00 922,912.68 5,962,966.21 72.14 2,302,533.79 Public Works Street Maintenance 1,386,700.00 140,557.41 1,153,785.20 83.20 232,914.80 Snow Removal 305,900.00 5,999.79 184,241.02 60.23 121,658.98 Equipment Services 231,200.00 24,881.40 183,280.87 79.27 47,919.13 Engineering 385,500.00 38,218.30 264,471.03 68.60 121,028.97 TOTAL Public Works 2,309,300.00 209,656.90 1,785,778.12 77.33 523,521.88 11-12-2020 03:31 PM CITY OF ELK RIVER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: OCTOBER 31ST, 2020 101-GENERAL FUND FINANCIAL SUMMARY 83.33% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ Culture & Recreation Parks Department 1,272,700.00 96,657.51 939,138.18 73.79 333,561.82 Parks & Rec Admin 592,000.00 45,508.70 498,626.35 84.23 93,373.65 Recreation Programs 129,100.00 5,251.55 68,094.02 52.75 61,005.98 Farmers Market 0.00 8,718.14 8,139.86 0.00 ( 8,139.86) Sr Citizen Programs 201,850.00 10,167.75 128,072.40 63.45 73,777.60 TOTAL Culture & Recreation 2,195,650.00 166,303.65 1,642,070.81 74.79 553,579.19 Economic Development Economic Development 0.00 17,390.34 45,873.57 0.00 ( 45,873.57) Energy City 27,550.00 2,284.54 18,194.55 66.04 9,355.45 TOTAL Economic Development 27,550.00 19,674.88 64,068.12 232.55 ( 36,518.12) General _____________ _____________ _____________ _______ _____________ TOTAL EXPENDITURES 17,019,600.00 1,686,551.40 12,682,679.30 74.52 4,336,920.70 ============= ============= ============= ======= ============= REVENUES OVER/(UNDER) EXPENDITURES 0.00 ( 872,782.66)( 2,208,957.81) 2,208,957.81 11-12-2020 03:31 PM CITY OF ELK RIVER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: OCTOBER 31ST, 2020 101-GENERAL FUND 83.33% 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 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 0.00 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 3,550.00 47,283.00 72.74 17,717.00 101-3-0000-3216 Mining License 25,000.00 0.00 25,760.95 103.04 ( 760.95) 101-3-0000-3217 Garbage Hauler License 2,000.00 0.00 485.00 24.25 1,515.00 101-3-0000-3218 Other Business License/Permit 12,000.00 430.00 11,290.00 94.08 710.00 101-3-0000-3229 NPDES Permit 20,000.00 3,150.00 18,403.25 92.02 1,596.75 101-3-0000-3231 Building Permit 475,000.00 61,292.75 354,059.90 74.54 120,940.10 101-3-0000-3232 Plumbing/Heating Permit 110,000.00 16,705.37 72,531.10 65.94 37,468.90 101-3-0000-3233 Permit Surcharge 500.00 3,203.54 6,691.11 1,338.22 ( 6,191.11) 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 2,690.00 21,344.00 213.44 ( 11,344.00) TOTAL Licenses & Permits 798,500.00 91,021.66 587,180.72 73.54 211,319.28 Intergovernmental Rev 101-3-0000-3322 MV Credit 5,500.00 3,092.55 3,092.55 56.23 2,407.45 101-3-0000-3323 Fire State Aid 200,000.00 206,496.42 209,031.67 104.52 ( 9,031.67) 101-3-0000-3325 Police 2% Aid 295,000.00 310,309.06 310,309.06 105.19 ( 15,309.06) 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 17,608.19 33,852.73 56.42 26,147.27 101-3-0000-3330 Other State Grants 21,000.00 0.00 11,570.11 55.10 9,429.89 TOTAL Intergovernmental Rev 611,500.00 537,506.22 597,024.35 97.63 14,475.65 Charges for Services 101-3-0000-3412 Planning & Zoning Fees 30,000.00 1,018.75 17,222.94 57.41 12,777.06 101-3-0000-3413 Plan Check Fee 215,000.00 33,758.22 154,116.70 71.68 60,883.30 101-3-0000-3415 Special Assessment Search 500.00 150.00 540.00 108.00 ( 40.00) 101-3-0000-3417 Copies 3,000.00 206.65 1,241.80 41.39 1,758.20 101-3-0000-3418 Other General Govt Services 1,500.00 0.00 52.00 3.47 1,448.00 101-3-0000-3430 Lockout Fees 5,500.00 460.00 3,925.00 71.36 1,575.00 101-3-0000-3431 Police Services 15,000.00 300.00 11,253.41 75.02 3,746.59 101-3-0000-3432 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 0.00 650.00 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 18,000.00 330.00 22,158.50 123.10 ( 4,158.50) 101-3-0000-3452 Engineering Services Reimb 75,000.00 0.00 18,371.57 24.50 56,628.43 11-12-2020 03:31 PM CITY OF ELK RIVER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: OCTOBER 31ST, 2020 101-GENERAL FUND 83.33% 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 0.00 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 0.00 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 20,000.00 950.00 21,186.99 105.93 ( 1,186.99) 101-3-0000-3483 Sewer Inspection Fee 11,000.00 2,080.00 20,245.00 184.05 ( 9,245.00) 101-3-0000-3484 Contractor License Check 1,000.00 120.00 1,010.00 101.00 ( 10.00) TOTAL Charges for Services 947,500.00 39,373.62 738,952.21 77.99 208,547.79 Fines & Forfeits 101-3-0000-3510 Court Fines 135,000.00 5,604.35 68,251.33 50.56 66,748.67 101-3-0000-3511 Parking Fines 5,000.00 0.00 150.00 3.00 4,850.00 101-3-0000-3512 Ordinance Violations 0.00 300.00 300.00 0.00 ( 300.00) TOTAL Fines & Forfeits 140,000.00 5,904.35 68,701.33 49.07 71,298.67 Special Assessments 101-3-0000-3610 Special Assmts-County 0.00 2,355.34 2,355.34 0.00 ( 2,355.34) TOTAL Special Assessments 0.00 2,355.34 2,355.34 0.00 ( 2,355.34) Other Revenue 101-3-0000-3621 Interest Income 115,000.00 0.00 91,643.15 79.69 23,356.85 101-3-0000-3625 Refunds & Reimbursements 130,000.00 0.00 ( 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 6,500.00 766.34 11,011.46 169.41 ( 4,511.46) TOTAL Other Revenue 276,500.00 766.34 100,157.42 36.22 176,342.58 Transfers In 101-3-0000-3921 Transfers 0.00 9,047.98 490,424.77 0.00 ( 490,424.77) 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 1,364,000.00 127,793.23 995,171.17 72.96 368,828.83 101-3-0000-3946 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 2,167,300.00 136,841.21 2,296,895.94 105.98 ( 129,595.94) _____________________________________________________________________________ TOTAL General Fund 17,019,600.00 813,768.74 10,473,721.49 61.54 6,545,878.51 ___________________________________________________________________________________________________________________ TOTAL REVENUE 17,019,600.00 813,768.74 10,473,721.49 61.54 6,545,878.51 ============= ============= ============= ======= ============= ----- 0.00%0.00%0.00% 76.74%76.77%82.64%10.83%12.83% % of -58.71%-61.63%-56.66% 416.80%416.80%100.00% Budget ------- 149 81,32052,28412,50412,504 (15,500) 422,097422,246 133,604288,642301,146285,646285,646 Actual $ Year to Date Stormwater ------ 2,3003,0003,000 98,400 (15,500) 550,000550,000 482,900458,000 (491,600)(488,600)(504,100)(504,100) 1,041,600 Budget Current $ ----- 0.00% 75.71%31.80%75.66%87.75%94.70%76.17%76.62%64.91%66.98%48.81% % of 138.05%138.05%100.00% Budget - - - - - - 636 5,5225,522 24,87718,37288,82494,34644,34644,346 (50,000) Actual 1,261,3641,262,000 1,129,9271,173,176 $ Year to Date Garbage - - - - - - 2,0004,0004,000 28,35019,40090,85090,850 (50,000) 136,850140,850 1,666,0001,668,000 1,483,4001,531,150 Budget Current $ - 0.00%0.00% 77.01%97.00%79.44%75.52%89.26%84.43%40.20%57.79%34.22% % of -61.91%-45.26%-88.42% 124.42%147.07%654.47%100.00% Budget - 485 73,53420,780 (64,769) 149,304546,511197,270564,129559,313494,544654,473584,797 (138,303)(155,000)(430,000) Actual 1,717,4341,867,223 1,307,9101,014,797 Sewer $ Year to Date - 500 50,000 120,000723,700221,000668,200100,000 (903,400)(239,300)(189,300)(155,000)(430,000) CITY OF ELK RIVER 2,230,0002,350,500 1,641,0003,253,900 Budget Current(1,092,700)(1,147,700)(1,577,700) $ MONTH ENDED OCTOBER, 2020 ----- ENTERPRISE FUNDS - BUDGET TO ACTUAL 0.00%0.00% 84.67%79.18%98.10%36.84%36.84%84.52%80.14% % of 110.13%100.13%125.30%106.83%106.83%124.09%107.88%183.56% Budget - - - - - - 1,8051,805 20,04464,10064,10014,205 762,454268,347394,009394,009 (755,147) Actual 6,300,4192,119,8911,050,8451,070,8511,134,951 (4,180,528) Liquor $ Year to Date - - - - - - 4,9004,900 18,20060,00060,000 902,050268,000123,000854,650914,650214,650214,650 (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 inTransfers outNET INCOME (LOSS)Items reclassified to balance sheet at year end: Bond PaymentRevenues over/(under) expenditures * Recorded at yearend 11-12-2020 05:33 PMCITY OF ELK RIVERPAGE: 1 POOLED CASH REPORT (FUND 999) AS OF: OCTOBER 31ST, 2020 BEGINNINGCURRENTCURRENT FUND ACCOUNT# ACCOUNT NAME BALANCEACTIVITYBALANCE __________________________________________________________________________________________________________________ CLAIM ON CASH 002-1010 Cash - Section 12516,084.191,234.2917,318.48 101-1010 Cash - General Fund6,297,899.47 ( 856,661.35) 5,441,238.12 211-1010 Cash - Library418,517.12 (1,368.95)417,148.17 219-1010 Cash - Coronavirus Relief1,212,083.81 (74,665.48) 1,137,418.33 221-1010 Cash - Multipurpose Facility350,830.76 (63,885.17)286,945.59 225-1010 Cash - Park Dedication519,539.52 (525.00)519,014.52 228-1010 Cash - Landfill199,933.6019,198.32219,131.92 231-1010 Cash - Landfill Const Debris794,793.480.00794,793.48 240-1010 Cash - Micro Loan Fund818,433.804,592.81823,026.61 242-1010 Cash - State DEED143,632.114,649.90148,282.01 245-1010 Cash - Development Fund984,956.37 (416.00)984,540.37 290-1010 Cash - Capital Outlay Reserve1,292,792.23 (45,094.17) 1,247,698.06 291-1010 Cash - Insurance Reserve42,467.83 (1,399.23)41,068.60 292-1010 Cash - Govt Bldgs Reserve2,834,103.37373,305.60 3,207,408.97 294-1010 Cash - Drug Forfeiture37,650.98 (919.80)36,731.18 295-1010 Cash - Severance Pay Reserve77,651.470.0077,651.47 296-1010 Cash - GRE Reserve1,948,507.98 (16,048.60) 1,932,459.38 333-1010 Cash - 2010A GO Cap Imp Bonds694,935.930.00694,935.93 343-1010 Cash - 2019A Sales Tax Bonds1,595,963.63258,831.97 1,854,795.60 401-1010 Cash - Pavement Mgmt5,099,059.73134,835.55 5,233,895.28 403-1010 Cash - Street Improvement807,247.20 (40,413.14)766,834.06 406-1010 Cash - City Wide Trunk Util4,211,505.50 (23,682.67) 4,187,822.83 410-1010 Cash - Equipment Replacement173,652.1264,816.03238,468.15 1010 Cash - Active ER7,854,035.41 ( 751,344.31) 7,102,691.10 0.00 (63,551.44)(63,551.44) 1010Cash 440-1010 Cash - Park Improvement( 49,348.15)259.00 (49,089.15) 463-1010 Cash - TIF #23 Pref Powder5,096.900.005,096.90 602-1010 Cash - Wastewater Treatment5,655,206.29220,943.00 5,876,149.29 603-1010 Cash - Liquor4,455,489.24183,179.41 4,638,668.65 605-1010 Cash - Garbage405,786.322,381.91408,168.23 607-1010 Cash - Storm Water1,046,363.2310,464.73 1,056,827.96 801-1010 Cash - Interest0.0025,783.5025,783.50 3,246.25 821-1010 Cash - Developer Escrow 734,484.47 737,730.72 __________ __________________ TOTAL CLAIM ON CASH ( 632, =============== ============== ============== CASH IN BANK - POOLED CASH