Loading...
Memo-2001 Year End Finiancial Reprot Financial Report City of Hopkins An Overview of the 2001 Comprehensive Annual Financial Report ',. Economic Condition New construction valued at $17.1 million in 2001. ®Strong economic development market within the City of Hopkins. OSuccessful redevelopment activities by the city. - ®An additional $49 million of construction projected for 2002/2003. Future Projects ®Regency Residential $17 million ®Fire & Public Works Facility and Police addition $13 million Market Place Lofts $11 million ®Nine Mile Cove $10 million ®Eastside redevelopment $10 million Excelsior Blvd. const. $ 7 million Walgreens $ 2 million j City of Hopkins `; The City of Hopkins presents its' Comprehensive Annual Financial Report This presentation provides a broad overview of our financial performance and position. All information is public. Economic Conditl n Major Initiatives Revenues by fund types Expenditures by fund types Balance sheet Cash Management Changes In Fund balance Significant Projects in 2001 Plantation Apartments $3.5 million Nine Mile Cove $2.5 million ~Supervalu addition $1.8 million Walser addition $1.3 million Excelsior Blvd. const. $ .7 million ®Parkside Residential $ .4 million Mason Property $ .3 million Water Tower Painting $ .3 million Major Municipal Initiatives ®Street repair and improvements - $2,446,000. ®Sump pump inspection program continued in 2001. ®Storm Sewer reconstruction projects - $83,000. ®Blake Water Tower Painting - $285,000 ,~ ,:.,, ~'IE'II'~i~ '" o 1 -} Definitions ® General Fund -accounts for basic services including administration, public safety, public works, planning, and parks and recreation. ®Special Revenue Funds -account for specific activity including Economic Development, TIF, Housing Rehab., Cable, Parking and Depot Coffee Mouse. Capital Funds -account for assets of a permanent nature including Park improvements and Street improvements. ~- Debt Service Funds -account for payment of interest and principal on general obligation debt. ~ Enterprise funds -account for self supporting activities of government including Water, Sewer, Refuse, Storm Sewer, Pavilion, Art Center, Skate Park and Housing Authority. 4s Internal Service funds -account for financing of goods or serivices provided by one department to other departments. Revenue Comparisons ®Operating revenues in all governmental fund types are up 1.4%. The majority of the increase is in property tax revenues with a decrease in intergovernmental revenues. ®Operating revenues in proprietary fund types are down 1% or $41,000. This is primarily a fluctuation in water usage in the city. Expenditure Comparisons Operating expenditures in all governmental fund types are up 23.6%. The majority of the increase is in capital outlay (land & improvements) and debt service payments. ®operating expenditures in proprietary fund types stayed the same as last year. The types of expenditures varied slightly. Revenues and Other Financing Sources by Fund Type ~i ~~/ ,~ „~„~ 's`' D General / i~ j :~~~~~~~ ®SpeClal ®Capltal ,' . , , ,, F.3 Debt ®Enterprise /, " ', ' e, ^ Internal Expenditures and other financing uses by Fund Type ~~''%%` ~ ~„ ~~~ ~% r~' '~' '?;;%'/~i;~ ~-;- , , ~ L~ General - /,,j'/i~~~ ~ i ®SpeClal ®Capltal 7~(~7', ©Debt Enterprise ^ Internal Balance Sheet i (in thousands) 2001 2000 Assets .Cash and short-term investments $22,614 $20,392 .Taxes & special assessments receivable 13,415 13,782 .Other receivables 4,921 5,034 .Other assets and debts 71,661 68,054 Total Assets 1112.611 =107,262 uablllUes .Accounts dayable $1,085 $1,195 .Accrued compensation 732 701 .Other liabilities 17,780 18,675 .Long term debt 25,063 22,669 Totall.iatNlltles i44-~ i4s,~ Equtly and Older Credits 667.851 =64,022 2 ,~ } Cash Management The city's investments ~U.S Government are held by the City Agency Securities or its agent in the . $8,476,634 City's name. Commercial Paper This form of . $13,552,301 investment security Cash/deposits holding posses the . $585 290 least risk for loss. , Comparisons of Revenue for Governmental Fund Types, (in millions) 2001 ® 2000 ®1999 Combined Statement of Revenues, Expenses and Changes in Retained Earnings PrDprletary Fund Types, (in thousands) 2001 2000 Revenues .Charges for services $4,831 $4,886 ^Intergovemmental revenues 61 173 .Investment earnings 273 356 ^Otherrevenues 215 158 Total Revenues and Olher Sources ;5,360 ;5,565 ^Salanes and employee Benefits $1,241 $1,140 ^Matenals, supplies and services 1,470 1,680 .Disposal costs 923 836 .Other expenditures 456 228 ^DepreciaUon 1,174 1,062 Total E~slrAihues and Olher Uses >s,264 ;4,826 Excess ReverNSes over Ehlfes 1116 ;657 Combined Statement of Revenues, Expenditures and Changes in Fund Balance i i 3 GOVSnnm~lal Fund Types, (in tt~ousancls) 2001 2000 Revenues .Property taxes and speaal assessments $9,071 $7,898 ^Intergovemmental revenues 3,097 3,719 .Licenses, permits, fines 8 forfeitures 544 577 ,Charges for services 472 676 .Other revenues 5,184 1,919 Total Revenues and t)Iher Soun~s i16,~66 ;14y668 ^Salanes and employee Benefits $8,301 $5,928 ^Matenals, supplies and services 1,677 1,833 .Capital Outlay 5,061 2,665 .Other expenditures 3,835 2,881 Total F~diha,BS and Olher Uses ;16,674 ;12,807 Excess Revenues over Expendoha~es 11.484 ;1.882 Ta>af3s L~te~or't Charyes Ober ~ - r Comparisons of Expenditures for Proprietary Fund Types, (in millions) ~1,~ --- - ~~~ ~i.Zpp y :f-, ;~ "'• ''; $~ ;- .~. o 2001 ,• ,,. ,~` ~;; %, '7YYr F%; , F '% ;;°4 ~ Salaries Materials Disposal //Ollrer