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City of Hopkins - First Quarter Financial Report
, a . April 15,2004 2004 FIRST QUARTER FINACIAL REPORT PRESENTATION Overview There will be a brief presentation of the City of Hopkins 2004 First Quarter Financial Position. e Lori Yager Finance Director . -- CITY OF HOPKINS 2004 FINANCIAL REPORT - 'MARCH . GENERAL FUND Year To Date 3 Month 25% of Year Percentage Percentage Received/ Received/ Expended Expended 2003 Budget Year to Date 2004 2003 Revenues Property Taxes $ 6,666,136 $ 1,666,533 25,00% 24,91% Intergovernmental Revenue 389,510 69,231 17,77% 20,58% Licenses and Permits 486,575 134,500 27,64% 39,13% Fines and Forfeitures 137,000 22,176 16.19% 17.36 % Interest Earnings 100,000 (22,870) -22,87% 3.08% Charges for Services 216,150 46,856 21,68% 27,65% Franchise Fee 265,000 0 0.00% Other Miscellaneous 13,250 2,443 18.44% 58.84% Total $ 8,273,621 $ 1,918,869 23.19% 24.58% Expenditures Mayor/Council $ 103,313 $ 15,976 15.46% 15,15% . Administrative Services 274,495 54,680 19.92% 21.57% Finance 158,391 32,094 20.26% 22,01 % Legal 123,980 19,718 15.90% 17,69% Municipal Building 82,529 6,482 7.85% 19,32% Activity Center 280,161 60,303 21.52% 20.41 % Community Services 775,565 167,352 21,58% 23,31% Police 3,525,773 776,618 22,03% 23.72% Fire 532,058 92,544 17.39% 20,66% Emergency Preparedness 5,110 968 18.94% 24.42% Public Works 1,774,879 323,935 18,25% 18.63% Recreation 198,049 6,910 3.49% 6.32% Planning & Economic Dev. 78,008 18,147 23.26% 23,15% U nallocated 114,058 (38,190) -33.48% 0,00% Transfers 294,648 0 0,00% 0,00% Total $ 8,321,017 $ 1,537,537 18.48% 20,98% Sources (Uses) of Fund Balance ($47,396) $381,332 . . CITY OF HOPKINS FOUR YEAR COMPARATIVE FINANCIAL REPORT FOR THE PERIOD ENDING MARCH 31, 200X GENERAL FUND 2004 2003 2002 2001 Revenues Property Taxes 1,666,533 1,544,811 1,537,281 1,167,588 Intergovernmental Revenue 69,231 282,086 206,674 479,035 Licenses and Permits 134,500 182,142 182,196 164,907 Fines and Forfeitures 22,176 22,570 15,237 20,084 Interest (22,870) 4,952 15,789 21,206 Charges for Services 46,856 54,284 71,719 33,938 Franchise Fee 0 0 0 0 Other Miscellaneous 2,443 7,451 6,268 40,448 Total $1,918,869 $2,098,296 $2,035,164 $1,927,206 Expenditures Mayor/Council 15,976 16,924 21,307 18,639 City Manager 54,680 82,945 89,681 64,403 . Finance 32,094 34,864 31,320 28,957 Legal 19,718 21 ,938 13,297 18,244 Municipal Building 6,482 19,683 14,072 22,281 Activity Center 60,303 60,517 59,987 62,554 Community Services 167,352 185,436 173,221 163,705 Police 776,618 843,149 772,334 720,421 Fire 92,544 122,225 104,368 123,924 Emergency Preparedness 968 1,248 413 865 Public Works 323,935 363,805 337,738 374,997 Recreation 6,910 14,308 100,251 11,262 Community Development 18,147 23,932 23,470 35,690 Unallocated (38,190) 0 30,708 31,340 Transfers 0 0 0 0 Total $1,537,537 $ 1,790,974 $ 1,772,167 $ 1,677,282 Sources (Uses) of Fund Balance $381,332 $307,322 $262,997 $249,924 . / / / ~,/"." / / srloauella::>s!1IV JaL/JO /' ,'" / ',,- aad as!L/::>ueJd ~ " ,,-, ./a '. /' , d ~. // , ~ / ~~' / '-... , ca ~ ~/ ',A ~ " '-... sa::>!/Ua5 JOJ sa6JeL/::J ?b~~/ ~ .<> ' ~ "', , " , ~ '. '-.... , .. " "', ~ JsaJaJu/ " ", , , "- , ~ .. , '-... , -. "- , " , ", saJrll!aj-10d pLle saLl!d "- " , , '" ~ ", , , '" , SI!UJJad pLle s$' " .. 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CURRENT AND HISTORIC QUARTERLY REPORT FOR ENTERPRISE FUND OPERATIONS (no capital, construction or depreciation) For the Quarter Ending March 31 2004 2003 2002 2001 2000 1999 1998 WATER OPERATING REVENUE 177,062 218,637 225,738 195,805 167,662 183,941 183,686 OPERATING EXPENSE 155,016 168,929 157,824 151,388 140,215 212,192 134,795 OPERATING INCOME (LOSS) 22,046 49,708 67,914 44,417 27,447 (28,251 ) 48,891 SEWER REVENUE 321,888 375,184 410,863 381,669 352,280 385,502 364,132 OPERATING EXPENSE 316,811 340,405 334,162 297,662 290,572 403,750 322,664 OPERATING INCOME (LOSS) 5,077 34,779 76,701 84,007 61,708 ( 18,248) 41 ,468 REFUSE REVENUE 157,971 177,000 202,460 122,716 121,717 139,552 139,213 . OPERA TI NG EXPENSE 105,549 116,397 109,124 107,453 102,310 143,671 108,810 OPERATING INCOME (LOSS) 52,422 60,603 93,336 15,263 19,407 (4,119) 30,403 STORM SEWER REVENUE 230,108 196,206 188,912 161,193 158,696 135,938 125,069 OPERATING EXPENSE 25,384 26,917 24,431 25,041 21,197 32,7 40 13,078 OPERATING INCOME (LOSS) 204,724 169,289 164,481 136,152 137,499 103,198 111,991 PAVILLlON/ICE ARENA REVENUE 72,970 115,929 101,491 101,799 102,311 108,770 112,437 OPERATING EXPENSE 74,257 63,886 62,599 71,774 60,141 85,138 54, 941 OPERATING INCOME (LOSS) (1,287) 52,043 38,892 30,025 42,170 23,632 57,496 . 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W W UJ c.. ill >< c.. 0'-'- ill m m m ~ )( rr: W 0 Z Z U U U 0 w CITY OF HOPKINS . 2004 FINANCIAL REPORT - MARCH STATUS OF RESERVES Beginning Balance Balance Dollar Balance Fund 1/1/2004 3/31/2004 Difference 3/31/2003 General Fund $ 3,801,217 $ 3,723,574 $ (77,643) $ 3,751,513 Economic Development Fund 3,009,459 2,911,196 (98,263) 3,116,246 Housing Rehab Fund 1,020,093 1,003,991 (16,102) 1,095,925 Parking Fund 292,593 314,379 21,786 304,484 Cable TV Fund 333,180 320,680 (12,500) 272,251 Tax Increment 1,1 Fund 1,048,916 1,319,689 270,773 1,214,017 Tax Increment 1,2 Fund 52,869 65,136 12,267 198,297 Tax Increment 2,1 Fund 192,931 287,281 94,350 309,710 . Tax Increment 2.7 Fund 653 95 (558) 77,987 Tax Increment 2,8 Fund 22,401 33,062 10,661 22,065 Tax Increment 2,9 Fund 185,350 215,530 30,180 193,343 Tax Increment 2.10 Fund 38,622 59,374 20,752 30,296 Tax Increment 2,11 Fund 2,333,646 2,404,344 70,698 2,953,757 Park Improvement Fund 111 ,490 115,091 3,601 210,852 Municipal State Aid Construction 1,600,258 1,877,905 277,647 2,302,447 Capital Improvement Fund 6,500,016 5,320,400 (1,179,616) 10,045,506 P.I.R Construction Fund 2,393,666 2,256,091 (137,575) 1,504,529 CASH AND INVESTMENTS-ALL FUNDS 3/31/2004 3/31/2003 Total City Cash & Investments $ 8,626,182 $ 16,345,000 .