Memo - Year End Closing Budget Requests - 2004
MEMORANDUM
I FINANCE DEPARTMENT I
Date: May 5, 2005
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: 2004 Year End Closing Budget Requests
Attached is the a summary of the general fund activity for 2004. You will note that we ended the
year with revenues coming in $155,409 over budget and expenditures coming in at $109,703
under budget. This analysis include a request to move $65,665 of the unallocated line item from
the 2004 budget to the 2005 budget for the uncompleted digital imaging project, a scanner for the
engineering department and to allow additional funds for unexpected 2005 expenditures.
In addition there is a request from Public Works to mover $30,000 from the 2004 parking fund
budget to 2005 to allow for uncompleted structural ramp work.
There are also two requests for additions to the 2004 budgets and those explanations are included
within this document.
GENERAL FUND
REVENUES
Original Approved Requested Revised (UNDER)
Budget Budget Budget Budget Actual OVER
2004 Adjustments Adjustments 2004 2004 BUDGET
TAXES
Property Taxes $ 5,925,407 $ (294,275) $ $ 5,631,132 $ 5,523,347 $ (107,785)
Delinquent Property Taxes 49,213 49,213
Fiscal Disparities 740,729 740,729 800,166 59,437
TOTAL 6,666,136 (294,275) 6,371,861 6,372,726 865
LICENSES AND PERMITS
Business Licenses 128,375 128,375 137,217 8,842
Non-Business 358,200 358,200 393,989 35,789
TOTAL 486,575 486,575 531,206 44,631
FINES AND FORFEITS
Court Fines and forfeitures 137,000 137,000 156,449 19,449
INTERGOVERNMENTAL REVENUE
Market Value Credit relief 294,275 294,275 294,275
PERA Aid 20,510 20,510 20,510
State Grants 337,900 337,900 382,525 44,625
State Grants - Other 17,600 17,600 21,712 4,112
Federal Grant 10,061 10,061
County 3,500 3,500 11,896 8,396
Other Miscellaneous Grants 10,000 10,000 2,832 (7,168)
TOTAL 389,510 294,275 683,785 743,811 60,026
REVENUE FROM USE OF MONEY AND PROPERTY
Interest Earned 100,000 100,000 64,534 (35,466)
CHARGES FOR CURRENT SERVICES
General Government $ 92,350 $ $ $ 92,350 $ 130,235 37,885
Public Safety 50,300 50,300 72,658 22,358
Public Works 5,400 5,400 3,495 (1,905)
Recreation 63,600 63,600 52,203 (11,397)
Community Development 4,500 4,500 22,198 17,698
TOTAL 216,150 216,150 280,789 64,639
OTHER REVENUE
Franchise Fees 265,000 265,000 242,431 (22,569)
Contributions 1,000 1,000 9,220 8,220
Miscellaneous 12,250 12,250 27,863 15,613
TOTAL 278,250 278,250 279,514 1,264
OTHER NON REVENUE
Other
TOTAL REVENUES $ 8,273,621 $ $ $ 8,273,621 $ 8,429,030 155,409
101
FUND
AMENDED 2004 DEPARTMENTAL BUDGET SUMMARY
EXPENDITURES
GENERAL FUND
UNDER
(OVER)
BUDGET
2004
AClUAL
NEW
REVISED
BUDGET
APPROVED APPROVED REQUESTED
BUDGET BUDGET BUDGET
TRANSFERS ADmSTMENTS ADJUSTMENTS
2004
ORIGINAL
BUDGET
18,098
73,409
4,823
5,700
17,444
119,474
85,215
201,086
153,568
118,280
65,085
623,234
$
103,313
274,495
158,391
123,980
82,529
742,708
$
$
$
6,000
$
11,500
17,500
97,3 13
274,495
158,391
123,980
71,029
725,208
$
City Council
Administrative Services
Finance
Legal
Municipal Building
GENERAL GOVERNMENT
(43,527)
(76,161)
(119,688)
3,569,300
613,329
4,182,629
3,525,773
537,168
4,062,941
14,596
14,596
3,511,177
537,168
4,048,345
Police
Fire
PUBLIC SAFETY
(17,423)
95,431
78,008
78,008
PLANNING
(22,942)
798,507
775,565
775,565
COMMUNITY SERVICES
131,012
9,668
9,602
19,270
1,643,867
270,493
188,447
458,940
1,774,879
280,161
198,049
478,210
8,800
6,500
6,500
1,766,079
273,661
198,049
471,710
PUBLIC WORKS
Activity Center
Park Programs
RECREATION
48,393
48,393
(65,665)
114,058
UNALLOCATED
109,703
7,851,001
7,960,704
(65,665)
47,396
7,978,973
TOTAL OPERATING
109,703
294,648
8,145,649
$
294,648
8,255,352
$
65,665
$
18
$
47 )96
$
294,648
8,273,62 I
$
OTHER FINANCING USES
TOTAL EXPENDITURES
_BUDGET ADJUSTMENTS 2004
Acct No. Amount
ADDITIONAL BUDGETS FOR 2004
None
Economic Development Fund
204-46210-355 (166,250)
204-46210-616 166,250
BUDGET CARRYOVERS FROM 2004 TO 2005
Tax Increment 1-2
211-46518-616 75,000
Acct No.
101-40100-670
101-40100-670
Total Gen Fund
214-44420-720
Amount
(11,820) digital imaging & storage
(53,845) move balance to 2005
(65,665)
(30,000) structurai ramp work
None
Actual Transfer of excess revenues over expenditures
Metro Grant
Hopkins Mainstreet Ec Dev
10% Beard loan write-off
per devel agrmnt
Explanations for Increased Budget Requests 2004
General Fund
No requests
Economic Development
Pass through funds for Hopkins Mainstreet Econ Dev
Tax Increment 1-2
Loan write off per development agreement
Page 1
Amount
$0
$166,250
$75,000
Travel and Training
Supplies
Telephone
City of Hopkins
Areas of Significant Savings in 2004
Maintenance of structures & vehicles
Sand and Gravel
Utilities - gas, electric, disposal
Miscellaneous
General Fund Budget Savings
Page 1
Amount
$55,000
$5,000
$41,000
$22,000
$15,800
$5,000
$10,000
$153,800