VII.1. Third Quarter Financial Report; Bishop
CITY OF HOPKINS
Memorandum
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Nick Bishop, Finance Director
Date: November 5, 2018
Subject: Third Quarter Financial Report
_____________________________________________________________________
Attached is the presentation for the third quarter financial report. If you have any
questions in advance please contact me. A full presentation will be given at the council
meeting.
Finance
2018 3rd Quarter
Financial Report
Prepared by Finance Department
General Fund Overview
At the end of the 3rd quarter
Revenues are at 73.38%
Expenditures are at 75.40%
General Fund Revenues
Includes estimate for Tax Revenue
% of
Budget Actual Budget
Taxes 10,832,857$ 8,124,643$ 75.00%
Intergovernmental 1,173,933 555,316 47.30%
Licenses, Permits & Fines 779,065 624,781 80.20%
Charges for Services 225,650 263,806 116.91%
Miscellaneous 423,850 290,699 68.59%
Total Revenues 13,435,355$ 9,859,244$ 73.38%
General Fund Expenditures
% of
Budget Actual Budget
General Government 2,087,278$ 1,807,230$ 86.58%
Community Services 746,631 532,135 71.27%
Public Safety 6,535,880 4,918,193 75.25%
Public Works 3,060,337 2,109,668 68.94%
Recreation 692,750 507,575 73.27%
Urban Development 312,481 255,715 81.83%
Total Expenditures 13,435,356$ 10,130,516$ 75.40%
Special Revenue Funds Revenues
Economic Development, Depot & Art Center
include estimated tax revenue and/or transfers
% of
Budget Actual Budget
Chemical Assessment 60,000$ 46,108$ 76.85%
Economic Development 402,037 289,991 72.13%
Parking 150,500 124,578 82.78%
Communications 269,200 194,233 72.15%
Depot Coffee House 352,000 254,379 72.27%
Art Center 975,626 707,126 72.48%
Special Revenue Funds
Expenditures
% of
Budget Actual Budget
Chemical Assessment 60,000$ 45,713$ 76.19%
Economic Development 245,700 319,699 130.12%
Parking 113,529 100,614 88.62%
Communications 285,566 197,000 68.99%
Depot Coffee House 367,753 268,090 72.90%
Art Center 992,908 671,498 67.63%
Special Revenue Funds Change in Fund
Balance
Change
In Fund
Revenues Expenses Balance
Chemical Assessment 46,108$ 45,713$ 395$
Economic Development 289,991 319,699 (29,708)
Parking 124,578 100,614 23,964
Communications 194,233 197,000 (2,767)
Depot Coffee House 254,379 268,090 (13,711)
Art Center 707,126 671,498 35,628
Depot Coffee House and Communications Fund
have budgeted decreases in fund balance for
2018
Enterprise Funds Revenues
% of
Budget Actual Budget
Water 2,147,085$ 1,422,601$ 66.26%
Sewer 3,088,299 2,067,829 66.96%
Refuse 1,010,500 768,715 76.07%
Storm Sewer 810,200 611,814 75.51%
Pavilion 445,000 329,925 74.14%
Enterprise Funds Expenses
% of
Budget Actual Budget
Water 1,980,810$ 1,467,802$ 74.10%
Sewer 2,746,202 1,946,506 70.88%
Refuse 987,379 656,858 66.53%
Storm Sewer 526,942 453,925 86.14%
Pavilion 476,548 385,460 80.89%
Enterprise Funds Financial Position
Net
Income
Revenues Expenses (Loss)
Water 1,422,601$ 1,467,802$ (45,201)$
Sewer 2,067,829 1,946,506 121,323
Refuse 768,715 656,858 111,857
Storm Sewer 611,814 453,925 157,889
Pavilion 329,925 385,460 (55,535)
All funds include depreciation expense