VII.5. Third Quarter 2016 Financial and Investment Report; Harkess (Memo)MEMORANDUM
Date: October 18, 2016
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: Third Quarter 2016 Financial and Investment Report
Attached is the third 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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2016 3rd Quarter
Financial & Investment Report
•At the end of 3rd quarter
•Revenues are at 80.55%
•Expenditures are at 72.15%
General Fund ‐Overview
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•State ‐ $14,381 for POST Board & Firefighter trainings
•State ‐ $15,121 – DWI Officer Grant
•State ‐ $3,582 – Chemical Assessment Grants & CAT Calls
•Hennepin Co ‐ $5,747 – TZD Grant
•Hennepin Co ‐ $14,633 – JCPP Grant
•Hennepin Co ‐ $50,000 for Shady Oak Station Area
•MN Arts Board ‐ $10,768 for Arts Center programming
•Hennepin Co – $13,535 Recycling Grant
•Total for 3 rd Quarter ‐ $127,767 YTD = $680,352
Grants Received
3rd Quarter
General Fund Revenues
% age of
Budget Actual Budget
Taxes 9,797,151$ 7,409,859$ 75.63%
Intergovernmental 891,954$ 779,269$ 87.37%
Licenses, Permits &
Fines 575,575$ 787,889$ 136.89%
Charges for Services 188,900$ 282,100$ 149.34%
Miscellaneous 422,150$ 306,332$ 72.56%
Total Revenues 11,875,730$ 9,565,449$ 80.55%
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General Fund Expenditures
% age of
Budget Actual Budget
General Government 1,768,254$ 1,346,772$ 76.16%
Community Services 693,870$ 468,606$ 67.54%
Public Safety 5,842,844$ 3,963,947$ 67.84%
Public Works 2,580,621$ 1,839,730$ 71.29%
Recreation 632,894$ 471,568$ 74.51%
Urban Development 275,747$ 184,251$ 66.82%
Other 81,500$ 293,241$ 359.80%
Total Expenditures 11,875,730$ 8,568,115$ 72.15%
Total General Fund Expenditures
$0
$2,000
$4,000
$6,000
$8,000
Salaries Matl/Spls Capital
2016
2015
2014
2013
3rd Quarter – In Thousands
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General Fund Expenditures
General
Government
Public Safety
Community
Services
Public Works
Recreation
Urban
Development
Other
General Fund Expenditure Comparison
$0
$2,000
$4,000
$6,000
$8,000
$10,000
2016 2015 2014 2013
3rd Quarter – In Thousands
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Special Revenue Funds Revenues
% age of
Budget Actual Budget
Chemical Assessment 60,000$ 37,725$ 62.88%
Economic Development 356,113$ 381,728$ 107.19%
Parking 138,000$ 563,514$ 408.34%
Communications 257,000$ 213,915$ 83.24%
Depot Coffee House 349,100$ 272,610$ 78.09%
Art Center 787,108$ 878,128$ 111.56%
Special Revenue Funds Expenditures
% age of
Budget Actual Budget
Chemical Assessment 60,000$ 70,023$ 116.71%
Economic Development 176,600$ 624,966$ 353.89%
Parking 359,600$ 391,499$ 108.87%
Communications 223,773$ 226,299$ 101.13%
Depot Coffee House 338,142$ 255,877$ 75.67%
Art Center 903,667$ 707,835$ 78.33%
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Special Revenue Funds Financial Position
Change
In Fund Cash
Revenues Expenses Balance Balance
Chemical Assessment 37,725$ 70,023$ (32,298)$ (49,614)$
Economic Development 381,728$ 624,966$ (243,238)$ 2,908,312$
Parking 563,514$ 391,499$ 172,015$ 272,516$
Communications 213,915$ 226,299$ (12,384)$ 467,010$
Depot Coffee House 272,610$ 255,877$ 16,733$ 24,752$
Art Center 878,128$ 707,835$ 170,293$ (975,922)$
Enterprise Funds Revenues
% age of
Budget Actual Budget
Water 1,553,500$ 1,170,299$ 75.33%
Sewer 2,277,200$ 1,688,274$ 74.14%
Refuse 981,167$ 760,361$ 77.50%
Storm Sewer 804,000$ 608,770$ 75.72%
Pavilion 384,600$ 315,163$ 81.95%
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Enterprise Funds Expenditures
% age of
Budget Actual Budget
Water 1,692,761$ 1,262,813$ 74.60%
Sewer 2,607,444$ 1,645,663$ 63.11%
Refuse 940,973$ 619,847$ 65.87%
Storm Sewer 504,496$ 277,871$ 55.08%
Pavilion 454,477$ 248,421$ 54.66%
Enterprise Funds Financial Position
Net
Income
Revenues Expenses (Loss)
Water 1,170,299$ 1,262,813$ (92,514)$
Sewer 1,688,274$ 1,645,663$ 42,611$
Refuse 760,361$ 619,847$ 140,514$
Storm Sewer 608,770$ 277,871$ 330,899$
Pavilion 315,163$ 248,421$ 66,742$
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Cash & Investments
September 30, 2016
Bank Sweep Account 9,375,647$
Certificates of Deposit 5,880,000
Government Securities 3,668,363
Total 18,924,010$
Cash & Investments
Breakdown by Fund
General Fund $5,065,289
Special Revenue Funds 7,204,286
Debt Service Funds 2,587,898
Capital Funds 2,695,777
Internal Service Funds 330,043
Enterprise Funds 1,040,717
Total $18,924,010
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Interest Earnings
$0
$50,000
$100,000
$150,000
$200,000
2016 2015 2014 2013
•2009 TIF Bond Refunding (2016D bonds)
•2016C Bond Sale
•2017 Budget Meeting (Dec 6th)
•Complete the update of the Financial
Management Plan for use in the 2017 budget
•Implement new utility rate structure
Looking Ahead