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12.1 SR 12-16-2024City of Elk - River To City Council Meeting Date December 16, 2024 Item Description Financial reports - October Action Requested Information only. Background/Discussion Request for Action Item Number 12.1 Prepared By Lori Stich, Finance Manager Reviewed by Lori Stich Joe Stremcha Cal Portner Tina Allard 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 at about 64% of budget estimates. October collections were primarily building -related permits and rental licenses. ■ Charges for services are about 97% of estimates with plan check fees and recreation fees making up the majority of October collections. ■ Court fines which lag a month are about 87% of budget estimates including September collections received by the county. ■ Transfers in consist of ERMU's 4% September monthly electric revenues. Expenditures: The Elk River Vision A avelcoming community with revolutionary and spirited resourcefulness, exceptional service, and community p p W E H E U 6 engagement that encourages and inspires prosperity 273 • Total departmental expenditures are about 78% of budget and most departments are within or below budget estimates. 2024 Monthly Expenditures $25,000 $20,000 z $15,000 O s~r} $10,000 $5,000 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Actual $1,074 $2,673 1 $4,689 1 $6,358 1 $7,777 1 $9,510 $11,154 $13,280 $14,919 $16,899 Budget $1,798 1 $3,595 1 $5,393 1 $7,190 1 $8,988 $10,785 $12,583 $14,380 $16,178 $17,976 $19,773 $21,571 Multipurpose facility Through the end of October, expenditures of $1,509,195 exceed revenues of $1,256,827 by $252,367. The majority of October collections consist of ice rent, facility rentals, concessions and naming rights/sponsorships while expenditures are primarily attributable to personal services and utilities. Financial Impact N/A Mission/Policy/Goal Responsible for every dollar - good stewards. Attachments I. 10-2024 Financial reports Page 268 of 273 General Fund As of: 10/31/2024 83.00% OFYEARCOMPLETED REVENUES Budget YTD Actual %of budget Budget Balance Taxes 101-3-0000-3111 Current Ad Valorem Taxes 14,917,700.00 7,620,403.82 51.08% 7,297,296.18 101-3-0000-3112 Delinquent Ad Valorem Taxes 0.00 49,612.24 0.00% (49,612.24) 101-3-0000-3121 Gravel Tax 225,000.00 68,695.16 30.53% 156,304.84 101-3-0000-3131 Penalties/Interest 0.00 2,449.11 0.00% (2,449.11) Total Taxes 15,142,700.00 7,741,160.33 51.12% 7,401,539.67 Licenses & Permits 101-3-0000-3211 Liquor License 82,000.00 77,805.00 94.88% 4,195.00 101-3-0000-3212 THC License 4,000.00 800.00 20.00% 3,200.00 101-3-0000-3213 Cigarette License 4,000.00 750.00 18.75% 3,250.00 101-3-0000-3214 Rental License 65,000.00 42,710.00 65.71% 22,290.00 101-3-0000-3216 Mining License 26,000.00 26,887.75 103.41% (887.75) 101-3-0000-3217 Garbage Hauler License 2,500.00 2,505.00 100.20% (5.00) 101-3-0000-3218 Other Business License/Permit 16,000.00 16,402.86 102.52% (402.86) 101-3-0000-3229 NPDES Permit 23,000.00 11,025.00 47.93% 11,975.00 101-3-0000-3231 Building Permit 600,000.00 350,549.90 58.42% 249,450.10 101-3-0000-3232 Plumbing/Heating Permit 160,000.00 99,824.51 62.39% 60,175.49 101-3-0000-3233 Permit Surcharge 700.00 4,654.73 664.96% (3,954.73) 101-3-0000-3235 Animal License 0.00 300.00 0.00% (300.00) 101-3-0000-3237 Other Non -Business Lic/Permit 25,000.00 9,002.24 36.01% 15,997.76 Total Licenses & Permits 1,008,200.00 643,216.99 63.80% 364,983.01 Intergovernmental Revenue 101-3-0000-3322 MV Credit 6,000.00 2,680.14 44.67% 3,319.86 101-3-0000-3323 Fire State Aid 230,000.00 329,632.63 143.32% (99,632.63) 101-3-0000-3325 Police 2%Aid 340,000.00 414,088.39 121.79% (74,088.39) 101-3-0000-3326 Police Training Reimb 35,000.00 31,422.91 89.78% 3,577.09 101-3-0000-3329 State Crime Prevention Grant 48,000.00 83,962.67 174.92% (35,962.67) 101-3-0000-3330 Other State Grants 0.00 12,396.61 0.00% (12,396.61) Total Intergovernmental Revenue 659,000.00 874,183.35 132.65% (215,183.35) Charges for Services 101-3-0000-3412 Planning & Zoning Fees 25,000.00 24,340.00 97.36% 660.00 101-3-0000-3413 Plan Check Fee 250,000.00 149,429.09 59.77% 100,570.91 101-3-0000-3415 Special Assessment Search 500.00 150.00 30.00% 350.00 101-3-0000-3417 Copies 1,500.00 1,057.14 70.48% 442.86 101-3-0000-3430 Lockout Fees 3,500.00 1,688.00 48.23% 1,812.00 101-3-0000-3431 Police Services 45,000.00 18,896.82 41.99% 26,103.18 101-3-0000-3432 School Liaison 183,000.00 184,463.13 100.80% (1,463.13) 101-3-0000-3434 Animal Impound Fee 500.00 450.00 90.00% 50.00 101-3-0000-3436 Fire Contracts 400,000.00 470,798.46 117.70% (70,798.46) 101-3-0000-3437 Fire Services 3,000.00 1,009.34 33.64% 1,990.66 101-3-0000-3451 Street Services 35,000.00 31,527.50 90.08% 3,472.50 101-3-0000-3452 Engineering Services Reimb 20,000.00 5,065.00 25.33% 14,935.00 101-3-0000-3461 Recreation Fees 50,000.00 43,124.04 86.25% 6,875.96 101-3-0000-3462 Sr Center Activities 43,000.00 32,928.41 76.58% 10,071.59 101-3-0000-3463 Farmer's Market 12,000.00 53,522.55 446.02% (41,522.55) 101-3-0000-3469 Elk RiverFest 20,000.00 23,028.00 115.14% (3,028.00) 101-3-0000-3472 Park Use Fee 40,000.00 58,796.27 146.99% (18,796.27) 101-3-0000-3483 Sewer Inspection Fee 15,000.00 15,640.00 104.27% (640.00) Page 269 of 273 General Fund As of: 10/31/2024 83.00% OFYEARCOMPLETED REVENUES Budget YTD Actual %of budget Budget Balance 101-3-0000-3484 Contractor License Check 1,200.00 855.00 71.25% 345.00 Total Charges for Services 1,148,200.00 1,116,768.75 97.26% 31,431.25 Fines & Forfeits 101-3-0000-3510 Court Fines 150,000.00 127,323.39 84.88% 22,676.61 101-3-0000-3512 Ordinance Violations 0.00 3,100.00 0.00% (3,100.00) Total Fines & Forfeits 150,000.00 130,423.39 86.95% 19,576.61 Other Revenue 101-3-0000-3621 Interest Income 150,000.00 156,850.76 104.57% (6,850.76) 101-3-0000-3625 Refunds & Reimbursements 145,000.00 (9,710.65) -6.70% 154,710.65 101-3-0000-3626 Contributions 25,000.00 25,750.00 103.00% (750.00) 101-3-0000-3629 Miscellaneous Revenue 10,000.00 14,429.91 144.30% (4,429.91) Total Other Revenue 330,000.00 187,320.02 56.76% 142,679.98 Transfers In 101-3-0000-3921 Transfers 0.00 224.52 0.00% (224.52) 101-3-0000-3926 Transfer -Capital Outlay Resery 89,000.00 97,500.00 109.55% (8,500.00) 101-3-0000-3942 Transfer-WWTS 175,000.00 175,000.00 100.00% 0.00 101-3-0000-3943 Transfer -Liquor 1,000,000.00 1,000,000.00 100.00% 0.00 101-3-0000-3944 Transfer -Garbage 250,000.00 58,000.00 23.20% 192,000.00 101-3-0000-3945 Transfer -Utilities 1,400,000.00 1,163,132.63 83.08% 236,867.37 101-3-0000-3946 Transfer-Stormwater 135,000.00 135,000.00 100.00% 0.00 101-3-0000-3948 Transfer-EDA 46,000.00 46,000.00 100.00% 0.00 101-3-0000-3949 Transfer-HRA 37,500.00 37,500.00 100.00% 0.00 Total Transfers In 3,132,500.00 2,712,357.15 86.59% 420,142.85 TOTAL GENERAL FUND REVENUES 21,570,600.00 13,405,429.98 62.15% 8,165,170.02 Page 270 of 273 General Fund As of: 10/31/2024 83.00% OF YEAR COMPLETED EXPENDITURE SUMMARY Budget YTD Actual % of budget Budget Balance General Government City Council 213,550.00 184,671.69 86.48% 28,878.31 Communications 485,300.00 368,107.00 75.85% 117,193.00 Administrative Services 721,850.00 596,147.53 82.59% 125,702.47 Human Resources 426,550.00 340,240.97 79.77% 86,309.03 Elections 75,500.00 45,758.92 60.61% 29,741.08 Finance 800,750.00 670,488.06 83.73% 130,261.94 Information Technology 731,500.00 541,873.99 74.08% 189,626.01 Legal 275,000.00 258,536.42 94.01% 16,463.58 Community Development 0.00 34,353.91 0.00% (34,353.91) Planning 485,100.00 364,836.12 75.21% 120,263.88 Building Maintenance 1,085,250.00 866,289.54 79.82% 218,960.46 Total General Government 5,300,350.00 4,271,304.15 80.59% 1,029,045.85 Public Safety Police Administration 1,175,550.00 1,065,962.42 90.68% 109,587.58 Patrol 3,780,150.00 2,973,273.92 78.65% 806,876.08 Investigations 1,430,850.00 1,006,622.18 70.35% 424,227.82 Police Support Services 945,800.00 698,545.32 73.86% 247,254.68 Police Reserves 16,550.00 1,810.72 10.94% 14,739.28 Public Safety Building 229,500.00 154,591.64 67.36% 74,908.36 Fire Administration 1,332,800.00 1,219,095.65 91.47% 113,704.35 Fire Operations 630,450.00 468,185.79 74.26% 162,264.21 Emergency Management 34,750.00 17,586.84 50.61% 17,163.16 Building Safety 625,500.00 495,422.21 79.20% 130,077.79 Code Enforcement 126,000.00 100,381.53 79.67% 25,618.47 Environmental 101,700.00 112,352.97 110.47% (10,652.97) Total Public Safety 10,429,600.00 8,313,831.19 79.71% 2,115,768.81 Public Works Street Maintenance 1,742,150.00 1,253,652.73 71.96% 488,497.27 Snow Removal 411,150.00 215,423.65 52.40% 195,726.35 Equipment Services 397,300.00 325,540.87 81.94% 71,759.13 Engineering 489,150.00 335,962.78 68.68% 153,187.22 Total Public Works Culture & Recreation Parks Department Parks & Rec Admin Recreation Programs Farmers Market Sr Citizen Programs Total Culture & Recreation Economic Development Economic Development Energy City Total Economic Development TOTAL GENERAL FUND EXPENDITURES REVENUES OVER/(UNDER) EXPENDITURES 3,039,750.00 2,130,580.03 70.09% 909,169.97 1,743,700.00 1,309,931.94 75.12% 433,768.06 621,100.00 464,178.31 74.73% 156,921.69 181,550.00 142,274.58 78.37% 39,275.42 9,500.00 40,542.04 426.76% (31,042.04) 196,000.00 166,539.24 84.97% 29,460.76 2,751,850.00 2,123,466.11 77.17% 628,383.89 0.00 38,229.37 0.00% (38,229.37) 49,050.00 21,268.15 43.36% 27,781.85 49,050.00 59,497.52 121.30% 21,570,600.00 16,898,679.00 78.34% 0.00 (3,493,249.02) (10,447.52) 4,671,921.00 3,493,249.02 Page 271 of 273 CITY OF ELK RIVER MULTIPURPOSE FACILITY - BUDGET TO ACTUAL MONTH ENDED OCTOBER 31, 2024 Revenues: Ice Rental Admissions Dry Floor Events/Craft Shows Facility Rental Advertising/Naming Rights/Sponsorships Recreation fees (Skating/Hockey) Concessions/catering/vending Other Revenues (interest, etc.) Total Revenues Operating expenses: Personal services Supplies Other service charges Capital Outlay Total Expenditures Revenues over/(under) expenditures Current Year to Date % of Budget Actual Budget $893,500 $537,066 60.11% 45,000 24,106 53.57 7,000 1,317 18.81 244,400 217,661 89.06% 178,000 120,283 67.57% 290,000 150,455 51.88% 229,000 196,279 85.71% 9,100 9,660 106.15% $1,896,000 $1,256,827 66.29% $900,650 $814,874 90.48% 159,800 184,604 115.5 2 661,300 491,130 74.27% 120,400 18,587 15.44% $1,842,150 $1,509,195 81.93% $53,850 ($252,367) FTCenter October 2024 $2,000,000 Budget, $1,896,000 Budget, $1,842,150 $1,800,000 Actual $1,600,000 Actual $1,509,195 $1,400,000 $1,256,827 $1, 200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 Total Revenues Total Expenditures Page 272 of 273 Sales and cost of sales: Sales Cost of sales Gross profit Operating revenues: User charges Delinquency collections Other Total operating revenues Operating expenses: Personal services Supplies Other service charges Depreciation ' Total operating expenses Operating income (loss Nonoperating revenues (expenses): Interest income Interest expense/agent fees Total nonoperating revenues (expenses) Income (loss) before contributions & transfers Contributions - connection fees Transfers in (ARPA funds) Sale of assets Transfers out NET INCOME (LOSS) Items reclassified to balance sheet at year end: Bond Proceeds Capital Outlay Bond Payment (Payoff 2014B Refunded Debt) Revenues overl(under) expenditures Recorded at year-end CITY OF ELK RIVER ENTERPRISE FUNDS - BUDGET TO ACTUAL MONTH ENDED OCTOBER 31, 2024 Liquor Sewer Garbage Stormwater Current Year to Date % of Current Year to Date % of Current Year to Date % of Current Year to Date % of Budget Actual Budget Budget Actual Budget Budget Actual Budget Budget Actual Budget $ 8,161,000 $ 6,990,333 85.66% 6,028,000 4,678,423 77.61% $ 2,630,000 $ 2,082,113 79.17% $ 2,009,800 $ 1,470,575 73.17% $ 630,000 $ 505,131 80.18% 2,133,000 2,311,910 108.39% - - - - - - 1,000 1,026 102.61% - 1,207 - - 82 - 9,000 3,835 42.610% 180,000 119,993 66.66% 9000 3835 42.61% 2,811,000 2,203,132 78.38% 2,009,800 1,471,782 73.23% 630000 505214 80A9% 1,070,500 955,474 89.25% 863,500 650,736 75.36% 45,550 35,349 77.61% - - - 28,100 31,233 111.15% 324,600 184,943 56.98% 23,400 1,880 8.03% 1,000 315 31.54% 355,950 316,425 88.90% 972,410 984,855 101.28% 1,773,250 1,268,909 71.56% 453,600 61,355 13.53% 100,000 0.00% 1,705,000 0.00% 495,000 0.00% 1,554,550 1,303,132 83.83% 3,865,510 1,820,533 47.10% 1,842,200 1,306,139 70.90% 949,600 61,670 6.49% 587,450 1,012,613 172.37% (1,054,510) 382,598 -36.28% 167,600 165,643 98.83% (319,600) 443,543 -138.78% 125,000 75,523 60.42% 125,000 192,353 153.88% 8,000 19,130 239.12% 25,000 44,791 179.16% (82,800) (82,735) 99.92% 125,000 75,523 60.42% 42,200 109,618 259076% 8,000 19,130 239.12% 25,000 44,791 179.16% 712,450 1,086,136 152.73% (1,012,310) 492,216 -48.62% 175,600 184,773 105.22% (294,600) 488,334 -165.76% - - - 1,000,000 525,179 52.52% - - - - - - - 350,000 0.00% - - 0.00% - 1,700 0.00% - - 0.00% - - 0.00% 1,250,000 1,250,000 100.00% (175,000) (175,000) 100.00% (58,000) (58,000) 100.00% 175,000 175,000 100.00% 537550 161864 30.11% (187,310) 1,194,096 -63715O% 117,600 126,773 107180% 469600 313334 -66.72% (91,000) - - (173,000) (419,281) - - - - - - - - - - (520,000) (520,000) - - - - - - - (628,550) 161,864 (880,310) 254815 117,600 126,773 469,600 313,334 Page 273 of 273