III.3. Second Quarter 2016 Financial and Investment Report; Harkess (Memo)MEMORANDUM
Date: July 12, 2015
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: Second Quarter 2016 Financial and Investment Report
Attached is the second quarter financial and investment report power point presentation. If you
have any questions in advance please contact me. A full presentation will be given at the council
meeting.
FINANCE DEPARTMENT
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1
2016 2nd Quarter
Financial & Investment Report
•At the end of 2nd quarter
•Revenues are at 50.43%
•Expenditures are at 45.93%
General Fund ‐Overview
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•Minneapolis ‐ $5,747 for TZD Grant
•Hennepin County ‐ $14,633 for JCPP program
•State of MN ‐ $30,806 for DWI officer
•State of MN ‐ $1,602 Firefighter training & $15,920 HazMat
•MN Arts Board ‐ $11,778 for Arts Center programming
•Hennepin Co ‐ $13,535 Recycling Grant
•Hennepin Co ‐ $325,816 for Cottageville Park
•Total for 2 nd Quarter ‐ $167,510 YTD = $410,737
Grants Received 1st & 2nd Quarters
General Fund Revenues
% age of
Budget Actual Budget
Taxes 9,797,151$ 4,856,026$ 49.57%
Intergovernmental 891,954$ 345,139$ 38.69%
Licenses, Permits &
Fines 575,575$ 452,159$ 78.56%
Charges for Services 188,900$ 140,896$ 74.59%
Miscellaneous 422,150$ 194,618$ 46.10%
Total Revenues 11,875,730$ 5,988,838$ 50.43%
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General Fund Expenditures
% age of
Budget Actual Budget
General Government 1,768,254$ 834,934$ 47.22%
Community Services 693,870$ 300,705$ 43.34%
Public Safety 5,842,844$ 2,593,769$ 44.39%
Public Works 2,580,621$ 1,044,337$ 40.47%
Recreation 632,894$ 359,267$ 56.77%
Urban Development 275,747$ 132,007$ 47.87%
Other 81,500$ 189,468$ 232.48%
Total Expenditures 11,875,730$ 5,454,487$ 45.93%
Total General Fund Expenditures
$0
$1,000
$2,000
$3,000
$4,000
$5,000
Salaries Matl/Spls Capital
2016
2015
2014
2013
2nd Quarter – In Thousands
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General Fund Expenditures
General
Government
Public SafetyCommunity
Services
Public Works
Recreation
Urban
Development
Other
General Fund Expenditure Comparison
$0
$1,500
$3,000
$4,500
$6,000
$7,500
2016 2015 2014 2013
2nd Quarter – In Thousands
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Special Revenue Funds Revenues
% age of
Budget Actual Budget
Chemical Assessment 60,000$ 15,920$ 26.53%
Economic Development 356,113$ 230,021$ 64.59%
Parking 138,000$ 107,711$ 78.05%
Communications 257,000$ 147,994$ 57.59%
Depot Coffee House 349,100$ 176,085$ 50.44%
Art Center 787,108$ 320,689$ 40.74%
Special Revenue Funds Expenditures
% age of
Budget Actual Budget
Chemical Assessment 60,000$ 34,495$ 57.49%
Economic Development 176,600$ 215,510$ 122.03%
Parking 359,600$ 67,567$ 18.79%
Communications 223,773$ 112,484$ 50.27%
Depot Coffee House 338,142$ 155,924$ 46.11%
Art Center 903,667$ 527,207$ 58.34%
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Special Revenue Funds Financial Position
Change
In Fund
Revenues Expenses Balance
Chemical Assessment 15,920$ 34,495$ (18,575)$
Economic Development 230,021$ 215,510$ 14,512$
Parking 107,711$ 67,567$ 40,144$
Communications 147,994$ 112,484$ 35,510$
Depot Coffee House 176,085$ 155,924$ 20,161$
Art Center 320,689$ 527,207$ (206,518)$
Enterprise Funds Revenues
% age of
Budget Actual Budget
Water 1,553,500$ 645,827$ 41.57%
Sewer 2,277,200$ 1,061,461$ 46.61%
Refuse 981,167$ 501,247$ 51.09%
Storm Sewer 804,000$ 406,270$ 50.53%
Pavilion 384,600$ 259,464$ 67.46%
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Enterprise Funds Expenditures
% age of
Budget Actual Budget
Water 1,692,761$ 759,852$ 44.89%
Sewer 2,607,444$ 1,005,272$ 38.55%
Refuse 940,973$ 346,877$ 36.86%
Storm Sewer 504,496$ 78,649$ 15.59%
Pavilion 454,477$ 156,031$ 34.33%
Enterprise Funds Financial Position
Net
Income
Revenues Expenses (Loss)
Water 645,827$ 759,852$ (114,025)$
Sewer 1,061,461$ 1,005,272$ 56,189$
Refuse 501,247$ 346,877$ 154,370$
Storm Sewer 406,270$ 78,649$ 327,620$
Pavilion 259,464$ 156,031$ 103,432$
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Cash & Investments
June 30, 2016
Bank Sweep Account 5,067,005$
Certificates of Deposit 10,290,000
Government Securities 3,169,863
Total 18,526,868$
Interest Earnings
$0
$30,000
$60,000
$90,000
$120,000
$150,000
2016 2015 2014 2013
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•Utility Rate Analysis
•2017 Budget Review
•ERP & CIP Review and Approval
•Update the Financial Management Plan for
use in the 2017 budget
Looking Ahead