VII.2. Second Quarter Financial Report; Bishop
CITY OF HOPKINS
Memorandum
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Nick Bishop, Finance Director
Date: August 5, 2019
Subject: Second Quarter Financial Report
_____________________________________________________________________
Attached is the presentation for the second 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 2nd Quarter
Financial Report
Prepared by Finance Department
General Fund Overview
At the end of the 2nd quarter
Revenues are at 48.70%
Expenditures are at 48.11%
General Fund Revenues
% of
Budget Actual Budget
Taxes 11,782,524$ 5,891,262$ 50.00%
Intergovernmental 1,167,129 201,228 17.24%
Licenses, Permits & Fines 741,915 535,869 72.23%
Charges for Services 293,560 250,768 85.42%
Miscellaneous 425,350 139,006 32.68%
Total Revenues 14,410,478$ 7,018,132$ 48.70%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
TAXES INTERGOV LICENSES &
PERMITS
FINES
CHARGES FOR
SVCS
MISC
General Fund Revenues
Percent of Budget through 2nd Qtr
2016 2017 2018 2019
General Fund Expenditures
% of
Budget Actual Budget
General Government 2,310,906$ 1,299,161$ 56.22%
Community Services 818,588 369,680 45.16%
Public Safety 7,008,282 3,457,187 49.33%
Public Works 3,221,137 1,361,448 42.27%
Recreation 732,695 334,435 45.64%
Urban Development 318,870 111,417 34.94%
Total Expenditures 14,410,478$ 6,933,328$ 48.11%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
GEN GOVT COMM
SVCS
PUB
SAFETY
PUB
WORKS
REC URBAN DEV
General Fund Expenditures
Percent of Budget through 2nd Qtr
2016 2017 2018 2019
Special Revenue Funds Revenues
% of
Budget Actual Budget
Chemical Assessment 60,000$ 31,737$ 52.89%
Economic Development 395,154 280,328 70.94%
Parking 152,650 103,902 68.07%
Communications 255,235 114,583 44.89%
Depot Coffee House 362,600 165,482 45.64%
Art Center 988,582 476,332 48.18%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
CAT EDA PARK COMM DEPOT ARTS
Special Revenue Fund Revenues
Percent of Budget through 2nd Qtr
2016 2017 2018 2019
Special Revenue Funds
Expenditures
% of
Budget Actual Budget
Chemical Assessment 60,000$ 26,852$ 44.75%
Economic Development 390,519 179,028 45.84%
Parking 141,783 67,915 47.90%
Communications 482,459 123,867 25.67%
Depot Coffee House 347,925 144,498 41.53%
Art Center 1,005,600 446,668 44.42%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
140.0%
CAT EDA PARK COMM DEPOT ARTS
Special Revenue Fund Expenditures
Perecent of Budget through 2nd Qtr
2016 2017 2018 2019
Special Revenue Funds Financial Position
Communications and Arts Center Fund have budgeted decreases in fund
balance for 2019
Communications –(224,418) includes technology improvements at City Hall
Arts Center –(17,007) final year before plan to pay off deficit begins
Change Ending
In Fund Fund
Revenues Expenses Balance Balance
Chemical Assessment 31,737$ 26,852$ 4,885$ (15,245)$
Economic Development 280,328 179,028 101,300 3,298,222
Parking 103,902 67,915 35,987 172,365
Communications 114,583 123,867 (9,285) 534,083
Depot Coffee House 165,482 144,498 20,984 (43,554)
Art Center 476,332 446,668 29,664 (1,201,427)
Enterprise Funds Revenues
% of
Budget Actual Budget
Water 2,168,557$ 755,065$ 34.82%
Sewer 3,119,032 1,110,422 35.60%
Refuse 1,009,267 496,503 49.19%
Storm Sewer 793,532 411,148 51.81%
Pavilion 519,383 397,686 76.57%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
WATER SEWER REFUSE STORM
SEWER
PAVILION
Enterprise Fund Revenues
Percent of Budget through 2nd Qtr
2016 2017 2018 2019
Enterprise Funds Expenses
% of
Budget Actual Budget
Water 2,168,556$ 1,105,211$ 50.97%
Sewer 3,067,143 1,315,661 42.90%
Refuse 965,113 422,218 43.75%
Storm Sewer 605,940 308,747 50.95%
Pavilion 635,517 469,963 73.95%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
WATER SEWER REFUSE STORM
SEWER
PAVILION
Enterprise Fund Expenses
Percent of Budget through 2nd Qtr
2016 2017 2018 2019
Enterprise Funds Financial Position
All funds include depreciation expense
Net
Income
Revenues Expenses (Loss)
Water 755,065$ 1,105,211$ (350,146)$
Sewer 1,110,422$ 1,315,661$ (205,239)$
Refuse 496,503$ 422,218$ 74,285$
Storm Sewer 411,148$ 308,747$ 102,401$
Pavilion 397,686$ 469,963$ (72,277)$
Next Steps
Operating Budget Presentation August 13th
Preliminary levy submitted September 30th