City of Hopkins - Comprehensive Annual Financial Report and Audit Presented by KPMG
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JulY,13,2001
2000 COMPREHENSIVE ANNUAL FINANCIAL REPORT AND AUDIT PRESENTED
BY KPMG
Overview
Staff has requested our auditors to present the 2000 Comprehensive Annual Financial Report and the
results of the 2000 audit to the City Council and public.
Supportine Information
Comprehensi ve Annual Financial Report
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Lori Yager . ~
Finance Director
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City of Hopkins
An Overview of the 2000 Comprehensive
Annual Financial Report
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· New construction valued at $7.7
million in 2000.
· Strong economic development
market within the City of Hopkins.
· Successful redevelopment activities
by the city.
· An additional $104 million of
construction projected for
2001/2002.
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o General
fB Special
EI Capital
EI Debt
m Enterprise
o Internal
. Economic Condition
. Major Initiatives
. Revenues by fund
types
. Expenditures by fund
types
. Balance sheet
. Cash Management
. Changes in Fund
balance
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· Street repair and
improvements.
$2,293,000.
· Sump pump
inspection
program continued
in 2000.
· Storm Sewer
reconstruction
projects.
$164,000.
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o General
fIl Special
o Capital
fIlDebt
rIB Enterprise I
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(In thousands) 2000 1999
Assets
-Cash and short-tenn investments $20,392 $17,127
-Taxes & special assessments receivable 13,782 14,730
-Other receivables 5,034 6,656
-Other assets and debits \ 69,870 66,372
Total Assets $109,078 $104,885
liabilities
-Accounts payable $1,169 $943
-Accrued compensation 701 649
-Other payables 18,675 20,565
-Long tenn debt 22,669 21,534
Total liabilities $43,214 $43,691
Equity and Other Credits $65,864 $61,194
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Governmental Fund Types, (In thousands) 2000 1999
Revenues
-Properly taxes and special assessments $7,998 $7,453
-Intergovemmental revenues 3,773 4,206
-Licenses, permits, fines & forfeitures 577 621
-Charges for services 676 1,283
-Other revenues 1,865 7,591
Total Revenues and Other Sources $14,889 $21,153
Expenditures
-Salaries and employee Benefits $5,928 $5,800
-Materials, supplies and services 1,633 2,187
-Capital Outlay 2,665 6,931
-Other expenditures 2,681 3,827
Total Expenditures and Other Uses $12,907 $18,745
Excess Revenues over Expenditures $1,982 $2,408
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The city's
investments are
held by the City or
its agent in the
City's name.
This form of
investment
security holding
posses the least
risk for loss.
· U.S Government
Agency Securities
- $7,614,018
· Commercial Pap r
- $12,424,461
· Money Market
- $100,000
· Cash/deposits
- $253,460
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Proprietary Fund Types, (In thousands) 2000 1999
Revenues
-Charges for services $4,896 $4,652
-Intergovemmental revenues 173 38
-Investment eamings 356 203
-Other revenues 70 83
Total Revenues and Other Sources $5,495 $4,976
Expenditures
-Salaries and employee Benefits $1,140 $1,032
-Materials, supplies and services 1,448 1,433
-Disposal costs 836 877
-Other expenditures 337 341
-Depreciation 1,077 936
Total Expenditures and Other Uses $4,838 $4,619
Excess Revenues over Expenditures $657 $357
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