City of Hopkins - PowerPoint - 2001 2nd Quater Financial Reports2001
2nd QUARTER FINANCIAL
REPORTS
CITY OF HOPKINS
GENERAL FUND REVENUE COMPARISON
(In thousands)
r..e
Interval
LicaerMee
Charges,
Interest
® 2001
o 20110
. 1999
• 1990
GENERAL FUND EXPENDITURES
• Police expenditures are up $132,000 over
last year at this time. This is attributed
to having a full police staff.
• Public works expenditures are up
$50,000 over last year at this time.
Increased snow and ice removal
expenditures are the main reason for
increased costs.
GENERAL FUND REVENUES
• General fund revenues are up 2.6% over last
year at this time.
• Property tax revenues increased 6.8% over
2000. All other general fund revenues have
either remained the same or have experienced
slight decreases in 2001.
• The economy overall is in a slight downturn
which affects permit and licensing revenues and
interest eamings.
GENERAL FUND EXPENDITURES
• General fund expenditures are up 8.9%
over last year at this time.
• We have an additional $202,000 of
payroll costs accrued in June of 2001.
• Our building maintenance costs are
$50,000 higher than last year. We have
had boiler repair costs, workspace
remodeling and double our heating costs.
GENERAL FUND EXPENDITURE COMPARISON
(in thousands)
01 I • • 7:■
/1 I s• N •
2111
2111
Ieo mg11l
1
CASH AND INVESTMENTS
• Total cash and
investments are down
$500,000 compared to
June 2000. (spent
bond proceeds)
• Return on investment
has dropped to 3.7%
in 2001, from a high
in 2000 of 6.9 %.
INTERNAL SERVICE AND ENTERPRISE
• The equipment replacement plan is very
healthy with a working capital balance of
$1,400,000. This balance will be used to
purchase equipment in the future.
• The utility funds are also very healthy with a
combined working capital balance of
$3,378,000. The working capital balance is
used to fund capital and construction projects
in the utility funds.
CITY OF HOPKINS RESERVES
• Governmental fund types are general
fund, special revenue funds, debt service
funds and capital project funds.
• Governmental fund type reserves are up
approximately $600,000 compared to June
2000. The increased reserves are
primarily in the PIR and State Aid funds.
These funds are used to pay for major
street projects.
BROKERAGE INVESTMENT HOLDINGS
• Dain Bosworth • $ 3,000,000
• US Piper Jafray • $ 1,250,000
• Smith Barney • $ 6,150,000
• Wells Fargo • $ 3,250,000
• Morgan Keegan • $ 2,000.000
• TOTAL • $15,650,000
1.000
1,200
1,200
1.000
000
000
400
200
0
UTILITY FUNDS (In thousands)
/ !
•
M
■ r
/ , • •
Water Sewer Rolm Warn
. Utility fund
working
capital as
of June 30,
2001.
GOVERNMENTAL FUND RESERVES
(In Thousands)
:101
• annual
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•
• mt
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