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Memo - 4th Quarter Financial February 11, 2005 4th Quarter 2004 Financial Report Proposed Action Review of the 4th Quarter Financial Information Overview Attached are slides from the power point presentation on the 4th quarter Financial Report, Supportine: Information Power point presentation ~0,4~ Christine M. Harkess, CPA, CGFM Finance Director ,:: ~i ~~~ :';: ~.~~~; ,,:rc',,~:~;.~\~ ~ {~:;:;~f~; ':",;,(i c,,;;. ""C~~~:~~~~RY ":,.;" _. FINAN~PORT ,,: >_~. ,f,;:,l ',~rl""~:"' ,,;',,'. ".: '<' '" , .. . ,h",',,'. N.,.:' ~ ',," ,. ;."" ,~ .,.< :,'~ ,~>~'.~,~"[,-:'~~:'~gl~;', , Ciryf.oF HOPKINS " ~ ;t:/,,, / ~o/ .,..... '. ~'.. <~ JA '. ~~ . .. "i, ' .{ ';,' ...,:.,)';::>1~::'1 ,01,';' , :.: ,'C ~enerai-FUnd-Jvenues ..... =Ji. -" .:' . Taxes support 79% of general fund activities, . Intergovernmental revenues support 5% . Licenses, Permits & Fines support 8% . Charges for Services and Franchise fees each support 3% . Interest income supports less than 1 % .~ ~ ., ,{'; ~E~'ERAI:-Fl:JNe-R~VENUES - Taxes Intergovernmental ,: " , licenses, Permits & Fees Charges for Services Inleresllncome Budnet $6,666,136 $ 386,010 Over/(Under) Variance $ 3,273 $ 46,736 ~ $6,669,409 $ 432,746 $ 888,575 $ 232,900 $ 100000 $ 923,458 $ 334,734 L-2Z.lli $ 34,883 $ 101,834 ~ '~ ' > , .:: Total Revenues $8,273,621 $8,428,162 $154,541 ..... ,'a ....,; Gener-al-F---URd--oJerview 41- -1M -.- ..L iIIll AI. "-," 'l · Revenues are at 102% of bUdget or $154.541 over bUdget. , ',; · Expenditures are at 98% of budget or $200,285 under budget. · Fund Balance increased by $307,427 (~ ," ~l 'j' ',c ,~"r : >{ ;: r}*:".;',Z;';),~ ' :\:C;:.CGene~LF-UnclRev:enUeJcOmpariSOn (I111housands) .j<I .a. _II' III ~: 7,llflO ., ,'. {i,OO() " ',,'; ';' !'!,ooo ~ 4,001l 3,000 ,[ ., 1.~r~ Inlerrn', L1e!rtrlllnf~ Clull"J:,c. IUlert-~1 ;:. :.",WtY:'i$,:r:~::l;~~.': !;,j ~i~t" ~e~alrlIlTctExJnditures a~ . Salaries and benefits make up 69% of GF expenditures . Materials, supplies and services make up 31% . Capital makes up less than 1 % :..r.;',lt'i.... 1 ~. !i"?~" ;n;~:, A~~';:{: \~~;: fI~: > .:C Total General Fund E;kpenditures (in thousands) ~:::~\rti:;'. }:;:ti:;:~: , :i;:'!( '" '~ener-al-~nd-Exp~nditures ..... .-- ---,0;-- ,M'IfIIIIBIIIIr ~ .. $7,000 16~00 ,- U,OOO " $4,000 1212004 1212003 $3~00 1212002 $2,000 ill 2001 $1,000 $0 Salaries M.tUSpls Capital ... , ~;,:' ~,~~<~}:/~~,'~~'~', !;::.~ J:,;,;:~:; ",j ',;,C=~ener-al-F-Und-E-xp~nditu res (Over)JUnder < ~... ; Budaet Actual Variance General Government $ 742,706 $ 615,155 $127,553 Commumty Services $ 653,573 $ 696,937 ( $ 43,364) Public Safety $4,062,941 $4,173,024 ($110,083) Public Works $1,774,679 $1,660,975 $113,904 Recreatton $ 476,210 $ 455,427 $ 22,763 Other $ 408,706 $ 319213 $ 69 493 Total Expenditures $6,321,017 $8,120,732 ($200,285) :~... >:~<,(.: >'j\~r~:o~ r:~ ":i;~'{'~"""~- G~~~ral & Specialftevenue , . Fund Balances (thousands) 11 $9,000 $8,000 $1,000 $8,000 $5,000 $4,000 $3,000 , $2,000 $t,000 " 200' 20" 2001 20" :;~\;::(5'~'~':';' ~l;'j'(:.':/ ~,,~i~~~el'ler'al-f.und-EXPen d it-urJ Comparison , I-,.' lin thousands) - $11.000 $9,000 $8,000 I, ~- $8.000 r t~ $0 I' 2004 2003 2002 2001 '~~<~~~~~~t~; 'iP~<~~1~~~ ':?1;,:it=;;:cial-ReVentle-Fund-~Xpenditures ".1IIIf J_ Budaet ~: . Chemical Assessment $ 59,545 ; 'Economic Development $ 300,451 Paratranslt $ 30,136 Housing Rehab $ 61,595 Parking $174,124 Section 8 $ 116,095 Cable TV $ 177,725 Depot Coffee House $ 220,294 Art Center $ 384,975 Actual $ 40,444 $ 395,206 $ 123,130 $ 86,606 $ 120,936 $ 110,621 $ 165,746 $ 232,846 $ 391 ,494 (Over)lUnder Variance $ 19,100 $ (94,757) $ 7,006 $ (5,212) $ 53,167 $ 7,474 $ 11,978 $ (12,552) $ (6,521) 2 ,,"y,j'::, !~{;ff "t '(" '5;' , >' " .. ,......._~ Water Sewer Refuse Storm Sewer Pavilion Enterprise FJnds Revenues $ 789,680 $1,200,069 $ 630,499 $ 747,207 $ 342,485 EXDenses $1,179,669 $1,541,730 $ 716,295 $ 506,372 $ 366,017 .....ft""IIOiWiIII/i~i!ii":~~ Incr/(Decrl Fund Balance $(369,969) $(341,661) $ 65,796 $ 236,634 $ (23,532) i.":',; ,..' o'~ J - ~ "')':(~-~e~t-lsSUanG~ . There was no new debt issued in 2004 . Principal payments on current debt totaled $2,220,620 . Interest payment totaled $1,877,686 .., ,. . Outstanding bonds total $19,542,436 .;: "J"..> ~:" ~::.<-," /~~~,: " IiAterpl'ise-FJnds ~-.ut\-"'9"---"""" -, 12-31-2004 Cash Balances $ 681,474 $1,072,680 $ 523,960 $ 980,099 $ (295,544) (, Water Sewer Refuse Storm Sewer Pavilion ~_w. y OVERALL REPO 'r ~Ill THE CITY OF HOPKINS IS IN GOOD FINANCIAL HEALTH r- lr~ 3