City of Hopkins Power Point Financial Report 2009Financial
Report
City of Hopkins
An Overview of the
2009 Comprehensive
Annual Financial Report
Economic Condition
is Valuation of new non-residential
construction was $36.7 million in 2009.
• There remains an viable economic
development and redevelopment
market within the City of Hopkins.
• An additional $218 million of
construction is projected over the next
several years.
Future Projects
IIS Atlas Site Redevelopment $62 million
Is 8th Avenue Redevelopment $60 million
• Marketplace & Main Apts $56 million
• 5th Avenue Flats $40 million
City of Hopkins
The City of Hopkins
presents its
Comprehensive Annual
Financial Report
This presentation
provides a broad
overview of our financial
performance and
position.
All information is public
i Economic Condition
Major Initiatives
Revenues by fund
types
Expenditures by fund
types
Statement of Net
Assets
Statement ofActivities
Significant Projects in 2009
• Excelsior Crossing III $40.0 million
• Eisenhower Community
Center $ 4.3 million
Maj or Municipal Initiatives
• Street repair and improvements - $1,139,000
• Utility improvement projects - $526,000
• Moline & Well #1 Improvements - $84,000
• Nine Mile Creek bank stabilization - $144,000
• Park Improvements — $94,000
• City Hall roof replacement — $21,800
• Pavilion refrigeration system - $30,400
• Conversion of large commercial
-
water meters to radio read 3
system.
I
Financial Highlights
• Assets exceeded liabilities by approximately
$61.4 million
— About 74% is capital assets ($45.1 m)
— $4.2 million can be used for ongoing obligations
• Governmental funds fund balances totaled
$14.9 million, an increase of $2.1 million
• Unreserved fund balance of the General
Fund totaled $3.9 million or 39% of
expenditures
• Debt increased $3.85 million due to the 2009
bond sale and refinancing.
Revenues and Other Financing Sources
by Fund Type
$428,235
$5,485,916
$10,049,877
■ Genera/
■ Specia/ R
$5,728,
evenue
$5,728,08 ■ Capita/
■ Debt
■ Enterprise
010,729 /ntema/ Service
$1,530,788 $3,
Financial Highlights - cont
• Governmental Activities
— Property tax revenues decreased due to
unallotment of MVHC.
— Program grants were received for specific
programs
• Business Type Activities
— Charges for service increased due to rate
increases
— Program grants increased
• Primarily for HRA programs
Expenditures and Other Financing
Uses by Fund Type
$547,661
$5,082,564
$9,918,206
■ Genera/
■ Special
Revenue
■ Capita/
■ Debt
$2,901,231
■ Enterprise
$1,648,040 ■ /nt_,
Service
$3,652,758
W
Statement of Activities
Proprietary Fund Types, (in thousands)
2009
2008
Revenues
—Charges for services
$5,209
$4,809
—Operating g.nts & contributions
151
252
—capital grants & contnbutions
142
395
—Other revenues
14
22
Total Revenues and Other Sources
$5,517
$5,477
Expenditures
—Stor. sevier
403
418
—Refuse
787
771
—Pavilion/Ice Arena
402
411
& Redevelopment Authority
528
680
—Transfers
145
145
Total Expenditures and Other Uses $5,228 $5,537
Excess Revenues over Expenditures $ 289 $ (60)
CAFR— Changes in Reporting�
•|n2OO8weimplemented GASB No. 46
Other Post Employment Benefits
(]PEB) dioo|oouva
— Disclose liability for post employment
benefits (health care)
•|n2O1Ovvewill implement GASB No. 64
regarding classification of fund balances
Fund Equity
Fund Balance/
Fund Type Equity Incr/(Decr)
• General Fund $4,127,786 $ 131,671
• Special Revenue Funds $3,503,572 ($ 642,029)
• Capital Project Funds $1,264,405 ($ 117,252)
• Debt Service funds $6,021,748 $2,771,546
• Enterprise Funds $16,650,238 $ 288,815
• Internal Service Funds $ 3,988,073 ($ 119,426)
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