2018 Special Revenue and Enterprise Fund Budgets; Bishop
City of Hopkins
FINANCE DEPARTMENT
MEMORANDUM
Date: November 13, 2017
To: Mayor & City Council
From: Nick Bishop, Finance Director
Subject: 2018 Special Revenue and Enterprise Fund Budgets
Continuing with the 2018 Budget process we will look at Special Revenue and Enterprise
Funds. At the work session we will go through the special revenue funds, some with more detail
than others. We will also review the Enterprise funds and review impacts of approved or
proposed rates.
Please also see the attached presentation.
11/9/2017
1
2018 Special Revenue &
Enterprise Fund Budgets
Council Work Session
November 13th,2017
Arts Center – Special Revenue Fund
Includes $250,000 Tax Levy
Minimum to Sustain Art Center
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 935,734$ 975,626$ 4.26%
Expenditures 1,234,505$ 992,908$ -19.57%
Revenues over (under) Expenditures (298,771)$ (17,282)$ 94.22%
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Arts Center – Special Revenue Fund
$111,000 in Capital Projects
Replace Surveillance System – $47,000
Replace Lobby Carpeting – $52,000
Gallery Floors – $12,000
Classification & Compensation Study
Chemical Assessment
Expenditures are Reimbursed by Grant
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 60,000$ 60,000$ 0.00%
Expenditures 60,000$ 60,000$ 0.00%
Revenues over (under) Expenditures -$ -$ 0.00%
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3
Economic Development
Levy at Maximum of $331,337
Additional Expenditures related to Artery
Grand Opening & Artwork
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 396,200$ 402,037$ 1.47%
Expenditures 210,449$ 245,700$ 16.75%
Revenues over (under) Expenditures 185,751$ 156,337$ -15.84%
Parking
Proposing Rate Increase
No Capital Expenditures Planned
2016B Tax Abatement Bonds – Ramp Rehab.
Proposed Levy $34,891 in 2018
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 144,500$ 150,500$ 4.15%
Expenditures 110,928$ 113,529$ 2.34%
Revenues over (under) Expenditures 33,572$ 36,971$ 10.12%
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Proposed Parking Rate Increases
Type 2017 2018 $ Increase % Increase
Daily 3$ 3$ -$ 0.00%
Overnight 30$ 32$ 2$ 6.67%
Monthly 33$ 35$ 2$ 6.06%
Quarterly 78$ 83$ 5$ 6.41%
Annual 252$ 268$ 16$ 6.35%
Communications
Franchise Fees ‐ $233,000, PEG Fees ‐ $33,000
0.75 FTE for Communications Position
Annual Transfer to Arts Center ‐ $86,920
Reduced Professional Services ‐ $10,000
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 269,200$ 269,200$ 0.00%
Expenditures 289,747$ 285,566$ -1.44%
Revenues over (under) Expenditures (20,547)$ (16,366)$ 20.35%
11/9/2017
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Depot Coffee House ‐ Youth
Supported by Hopkins School District, City of
Hopkins, Hopkins/Minnetonka Joint Rec &
Three Rivers Park District
Classification and Compensation Study
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 118,000$ 117,000$ -0.85%
Expenditures 119,504$ 126,515$ 5.87%
Revenues over (under) Expenditures (1,504)$ (9,515)$ -532.65%
Depot Coffee House – Youth
Revenue From:
Hopkins School District Levy ‐ $50,000
Three Rivers Park District ‐ $15,000
City of Hopkins (GF Transfer) ‐ $15,000
Hopkins/Minnetonka Joint Rec ‐ $15,000
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Depot Coffee House ‐ Operations
Classification and Compensation Study
Road Closures & Construction
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 227,000$ 235,000$ 3.52%
Expenditures 223,532$ 241,238$ 7.92%
Revenues over (under) Expenditures 3,468$ (6,238)$ -279.87%
Depot Coffee House ‐ Combined
Will Continue to Review
2017 2018 Percentage
Budget Budget Incr (Decr)
Revenues 345,000$ 352,000$ 2.03%
Expenditures 343,036$ 367,753$ 7.21%
Revenues over (under) Expenditures 1,964$ (15,753)$ -902.09%
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Water Fund
Rate Increase of approximately 6.8%
Depending on Tier, Water Meter Size etc.
Lease Revenue is Flat
2017 2018 %age
Budget Budget Incr (Decr)
Revenues 2,023,627$ 2,147,086$ 6.10%
Expenditures 1,885,916$ 1,980,810$ 5.03%
Revenues over (under) Expenditures 137,711$ 166,276$ 20.74%
Sewer Fund
Rate Increase of 5.34%
Penalty Revenue is Flat
Met Council Charges decreased by 0.01%
Still have ongoing capital needs
2017 2018 %age
Budget Budget Incr (Decr)
Revenues 2,932,504$ 3,088,299$ 5.31%
Expenditures 2,670,896$ 2,746,202$ 2.82%
Revenues over (under) Expenditures 261,608$ 342,097$ 30.77%
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Refuse Fund
2017 2018 %age
Budget Budget Incr (Decr)
Revenues 1,007,400$ 1,010,500$ 0.31%
Expenditures 948,876$ 987,379$ 4.06%
Revenues over (under) Expenditures 58,524$ 23,121$ -60.49%
Unrestricted Net Position of $769,520 in 2016
Storm Sewer Fund
Unrestricted Net Position of $935,103 in 2016
2017 2018 %age
Budget Budget Incr (Decr)
Revenues 810,200$ 810,200$ 0.00%
Expenditures 497,049$ 526,942$ 6.01%
Revenues over (under) Expenditures 313,151$ 283,258$ -9.55%
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Pavilion Fund
Revenue increased by over 10%
Lease Revenue from School District
Offset slightly by $0 in dry floor rental during
construction in 2018
2017 2018 %age
Budget Budget Incr (Decr)
Revenues 404,100$ 445,000$ 10.12%
Expenditures 460,817$ 476,548$ 3.41%
Revenues over (under) Expenditures (56,717)$ (31,548)$ 44.38%