Memo - September 2001 Financial ReportDate: 10/12/01
To: Steve Mielke
Cc: Mayor and Councilmembers
From: Lori K Yager
RE: September 2001 Financial Report
GENERAL FUND REVENUES
GENERAL FUND EXPENDITURES
Memadum
Attached are financial reports for the period ending September 30, 2001 along with some
comparative information. After brief analysis, some general comments can be made in
regards to the quarterly reports for the City.
• Intergovernmental Revenues, Fines and Forfeitures and Other Miscellaneous
revenues are all up compared to 2000. The number and amount of permits issued so
far in 2001 is less than the number and amount issued in 2000. Interest earnings
reflect a decrease, which is directly related to the economy with lower earnings rates.
Property tax revenues in the general fund increased 6.8% over 2000. Overall general
fund revenues are up about $300,000 over 2000.
• City Council expenditures are at the same level as last year. Administration costs are
down slightly because we have completed the visioning process. Finance is at the
same level as 2000. Legal costs in the general fund have declined slightly over four
years even with increased rates. Municipal Building expenditures have doubled due
to higher heating costs, boiler repair work and office remodeling. Activity Center
expenditures increased 9% over 2000. This is increased part-time help and regular
salary increases. Community Services up 3.5% from salary rate increases. Police
expenditures increased by 9% over 2000. This is related to regular salary increases
and overtime in dispatch. Fire expenditures increased 8.5% over 2000. This can be
attributed to more fireman hours. A siren has been purchased for the emergency
response system. Public Works has experienced a 12.5% increase in costs over last
year. Higher snow plowing costs in 2001, vehicle and equipment costs are up and
seal coating costs are high this year. Community Planning costs increased 41%
which is related to the transit study. Recreation costs increased 5% from joint
recreation program cost increases. Overall there is a 9% increase in general fund
expenditures over 2000. General fund expenditures are on target at 74% of budget.
12/10/97
GENERAL COMMENTS
• Total cash and investments are at the same level as compared to 2000. We have
taken in more revenues this year but we have also spent more in 2001.
• Governmental fund type reserves are up about $100,000 compared to last year at this
time. There is an increase in overall reserves reflected in the debt service funds. The
reserves are for an early retirement of some TIF 1 -1 Bonds in 2002. Governmental
fund types are still reflecting strong reserve balances.
• The utility funds show operating profits. On the bottom of the proprietary fund report
is a brief explanation of the changes in cash for these funds.
• The graphs illustrate where general fund revenues and expenditures are derived and
spent. It compares those figures for years 1998 thru 2001.
Revenues
Total
Expenditures
CITY OF HOPKINS
2001 FINANCIAL REPORT - SEPTEMBER
GENERAL FUND
Year To Date 9 Months 75% of Year
Percentage Percentage
Received/ Received /
Expended Expended
2001 Budget Year to Date 2001 2000
Property Taxes $ 4,692,361 $ 3,508,464
Intergovernmental Revenue 2,103,833 1,591,541
Licenses and Permits 363,730 306,531
Fines and Forfeitures 110,000 83,149
Interest Earnings 250,000 88,400
Charges for Services 157,460 122,519
Other Miscellaneous 62,700 41,216
74.77%
75.65%
84.27%
75.59%
35.36%
77.81%
65.74%
7,740,084 $ 5,741,820 74.18%
75.36%
68.58 ° /
97.27%
73.30%
34.21 °/
119.30%
88.70%
73.39%
Mayor /Council $ 102,699 $ 69,477 67.65% 76.56%
Health & Welfare 6,650 5,216 78.44% 23.81%
Administrative Services 301,561 221,426 73.43% 71.96%
Finance 142,982 96,645 67.59% 74.44%
Legal 124,450 66,742 53.63% 61.92%
Municipal Building 98,928 99,202 100.28% 30.11%
Activity Center 295,288 191,082 64.71 % 76.29 ° /
Community Services 726,774 537,942 74.02% 72.93 /°
Police 3,129,319 2,380,218 76.06% 75.52%
Fire 596,337 390,319 65.45% 61.19%
Emergency Preparedness 30,567 13,628 44.58% 5.80%
Public Works 1,757,626 1,334,637 75.93% 71.43
Recreation 234,740 237,740 101.28% 95.37%
Planning & Economic Dev. 140,526 137,038 97.52% 71.26 /°
Unallocated 101,878 (10,021) - 9.84% 0.76%
Transfers 11,359 0 0.00% 0.00%
Total $ 7,801,684 $ 5,771,291 73.97% 71.05 /°
Sourc (Uses) of Fund
Balance ($61,600) ($29,471)
Revenues
Total
Expenditures
Total
CITY OF HOPKINS
FOUR YEAR COMPARATIVE FINANCIAL REPORT
FOR THE PERIOD ENDING SEPTEMBER 30, 200X & 199X
GENERAL FUND
2001 2000 1999 1998
Property Taxes 3,508,464 3,289,174 3,060,578 2,572,861
Intergovernmental Revenue 1,591,541 1,432,837 1,393,606 1,628,996
Licenses and Permits 306,531 347,656 370,324 257,639
Fines and Forfeitures 83,149 74,400 77,918 71,797
Interest Earnings 88,400 101,626 69,918 96,381
Charges for Services 122,519 158,210 108,361 93,455
Other Miscellaneous 41,216 40,346 50,387 60,119
$5,741,820 $5,444,249 $5,131,092 $4,781,248
Mayor /Coucnil 69,477 71,350 $51,233 $51,515
Health & Welfare 5,216 1,631 18,708 36,198
Administrative Services 221,426 237,260 211,036 187,739
Finance 96,645 96,134 95,036 90,572
Legal 66,742 74,939 75,968 73,566
Municipal Building 99,202 49,988 50,952 74,324
Activity Center 191,082 174,982 156,552 139,660
Community Serv. - Admin 537,942 519,876 493,277 410,708
Police 2,380,218 2,181,714 2,081,038 1,827,777
Fire 390,319 359,850 352,753 255,260
Emergency Preparedness 13,628 1,118 3,439 3,321
Public Works 1,334,637 1,185,739 1,232,388 973,770
Recreation 237,740 226,130 229,893 228,952
Planning & Economic Dev. 137,038 97,193 127,082 99,014
Unallocated (10,021) 765 99,494 118,889
Transfers 0 0 0 (3,331)
$5,771,291 $5,278,669 $5,278,849 $4,567,934
Sources (Uses) of Fund Balance ($29,471) $165,580 ($147,757) $213,314
Fund
General Fund
Economic Development Fund
Housing Rehab Fund
Parking Fund
Cable TV Fund
Tax Increment 1.1 Fund
Tax Increment 1.2 Fund
Tax Increment 2.1 Fund
Tax Increment 2.7 Fund
Tax Increment 2.8 Fund
Tax Increment 2.9 Fund
Tax Increment 2.11 Fund
Park Improvement Fund
Municipal State Aid Cnstrc. Fund
P.I.R. Construction Fund
Debt Service
Total City Investments
CITY OF HOPKINS
2001 FINANCIAL REPORT- SEPTEMBER
STATUS OF RESERVES
Beginning
Balance
(Deficit)
1/1/2001
$ 3,183,705
3,789,612
1,317,588
358,149
327,265
2,202,037
351,828
264,117
211,995
33,590
106,843
33,208
125,907
2,324,709
1,472,111
1,819,160
1/1/2001
Balance
(Deficit)
9/30/2001
$ 3,073,861
3,751,727
1,143,369
360,341
317,378
1,647,252
197,293
518,815
118,549
69,738
185,504
247,279
72,950
2,780,168
791,827
1,267,153
CASH AND INVESTMENTS - ALL FUNDS
9/30/2001
Dollar
Difference
$ (109,844)
(37,885)
(174,219)
2,192
(9,887)
(554,785)
(154,535)
254,698
(93,446)
36,148
78,661
214,071
(52,957)
455,459
(680,284)
(552,007)
Balance
(Deficit)
9/30/2000
9/30/2000
(For fiscal year 2001, the city has paid out approximately $4,061,085 more than it has taken in.)
$ 3,042,324
3,740,260
1,292,749
335,655
286,027
1,984,417
389,423
507,297
235,299
52,509
93,738
0
7,135
2,427,456
1,172,935
866,557
$ 20,391,939 $ 16,330,854 (4,061,085) $ 16,282,663
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