VII.2. First Quarter Financial Report; Bishop
CITY OF HOPKINS
Memorandum
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Nick Bishop, Finance Director
Date: May 21, 2019
Subject: First Quarter Financial Report
_____________________________________________________________________
Attached is the presentation for the first quarter financial report. If you have any questions
in advance please contact me. A full presentation will be given at the council meeting.
Finance
2019 1st Quarter
Financial Report
Prepared by Finance Department
General Fund Overview
At the end of the 1st quarter
Revenues are at 23.34%
Expenditures are at 22.83%
General Fund Revenues
% of
Budget Actual Budget
Taxes 11,782,524$ 2,945,631$ 25.00%
Intergovernmental 1,167,129 92,816 7.95%
Licenses, Permits & Fines 741,915 138,339 18.65%
Charges for Services 293,560 85,413 29.10%
Miscellaneous 425,350 101,743 23.92%
Total Revenues 14,410,478$ 3,363,941$ 23.34%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
TAXES INTERGOV LICENSES &
PERMITS
CHARGES FOR
SVCS
MISC
General Fund Revenues
Percent of Budget through 1st Qtr
2016 2017 2018 2019
General Fund Expenditures
% of
Budget Actual Budget
General Government 2,310,906$ 716,548$ 31.01%
Community Services 818,588 159,832 19.53%
Public Safety 7,008,282 1,553,166 22.16%
Public Works 3,221,137 695,850 21.60%
Recreation 732,695 110,295 15.05%
Urban Development 318,870 53,903 16.90%
Total Expenditures 14,410,478$ 3,289,593$ 22.83%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
GEN GOVT COMM
SVCS
PUB SAFETY PUB
WORKS
REC URBAN DEV
General Fund Expenditures
Percent of Budget through 1st Qtr
2016 2017 2018 2019
Special Revenue Funds Revenues
% of
Budget Actual Budget
Chemical Assessment 60,000$ 17,133$ 28.56%
Economic Development 395,154 98,529 24.93%
Parking 152,650 94,860 62.14%
Communications 255,235 60,654 23.76%
Depot Coffee House 362,600 66,912 18.45%
Art Center 988,582 270,478 27.36%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
CAT EDA PARK COMM DEPOT ARTS
Special Revenue Fund Revenues
Percent of Budget through 1st Qtr
2016 2017 2018 2019
Special Revenue Funds
Expenditures
% of
Budget Actual Budget
Chemical Assessment 60,000$ 16,786$ 27.98%
Economic Development 390,519 74,714 19.13%
Parking 141,783 28,036 19.77%
Communications 482,459 55,188 11.44%
Depot Coffee House 347,925 59,806 17.19%
Art Center 1,005,600 209,993 20.88%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
CAT EDA PARK COMM DEPOT ARTS
Special Revenue Fund Expenditures
Perecent of Budget through 1st Qtr
2016 2017 2018 2019
Special Revenue Funds Financial Position
Communications and Arts Center Fund have budgeted decreases in fund
balance for 2019
Communications –(227,224) includes technology improvements at City Hall
Arts Center –(17,018) final year before plan to pay off deficit begins
Change Ending
In Fund Fund
Revenues Expenses Balance Balance
Chemical Assessment 17,133$ 16,786$ 347$ (19,783)$
Economic Development 98,529 74,714 23,815 4,501,379
Parking 94,860 28,036 66,824 203,202
Communications 60,654 55,188 5,466 548,834
Depot Coffee House 66,912 59,806 7,106 (57,435)
Art Center 270,478 209,993 60,485 (1,170,601)
Enterprise Funds Revenues
% of
Budget Actual Budget
Water 2,168,557$ 438,982$ 20.24%
Sewer 3,119,032 657,704 21.09%
Refuse 1,009,267 244,284 24.20%
Storm Sewer 793,532 207,843 26.19%
Pavilion 519,383 154,199 29.69%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
WATER SEWER REFUSE STORM
SEWER
PAVILION
Enterprise Fund Revenues
Percent of Budget through 1st Qtr
2016 2017 2018 2019
Enterprise Funds Expenses
% of
Budget Actual Budget
Water 2,168,556$ 440,988$ 20.34%
Sewer 3,067,143 616,487 20.10%
Refuse 965,113 170,678 17.68%
Storm Sewer 605,940 125,258 20.67%
Pavilion 635,517 231,008 36.35%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
WATER SEWER REFUSE STORM SEWER PAVILION
Enterprise Fund Expenses
Percent of Budget through 1st Qtr
2016 2017 2018 2019
Enterprise Funds Financial Position
All funds include depreciation expense
Net
Income
Revenues Expenses (Loss)Net Position
Water 438,982$ 440,988$ (2,006)$ 5,636,033$
Sewer 657,704 616,487 41,217 5,255,769
Refuse 244,284 170,678 73,606 1,411,924
Storm Sewer 207,843 125,258 82,585 9,311,555
Pavilion 154,199 231,008 (76,809) 1,683,943
Next Steps
Updated Financial Management Plan at June
11th Work Session
Audit Presentation Scheduled for June 18th
Preliminary CIP/ERP/Budgets in at July and
August Work Sessions