Second Quarter 2012 Financial and Investement ReportMEMORANDUM FINANCE DEPARTMENT
Date: July 17, 2012
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: Second Quarter 2012 Financial and Investment Report
Attached is the second quarter financial and investment report power point presentation. If you
have any questions in advance please contact me. A full presentation will be given at the council
meeting.
2012
2nd QUARTER
FINANCIAL AND INVESTMENT
REPORT
CITY OF HOPKINS
General Fund — Overview
At the end of 2nd Quarter -
Revenues are at 49% of total budget
Expenditures are at 47% of budget
Grants Received 2nd Quarter
o Federal- $20,601 COPS grant
o State - $2,357 for DWI/HEAT grant
o Federal - $449 for Metro Drug Task Force
o State- $10,398 for the Chemical
Assessment Team
o Hennepin County - $2,843 for Recycling
grant (installment payment)
GENERAL
FUND
REVENUES
% age of
Budget
Actual
Budget
Taxes
$
8,889,091
$ 4,443,796
49.99%
Intergovernmental
$
512,370
$ 96,061
18.75%
Licenses, Permits &
Fines
$
485,615
$ 346,159
71.28%
Charges for Services
$
245,150
$ 117,859
48.08%
Miscellaneous
$
399,299
$ 117,952
29.54%
Interest Income
$
25,000
$ 4,735
18.94%
Total Revenues
$ 10,556,525
$ 5,126,562
48.56%
Total General Fund Expenditures
2nd Quarter - (in thousands)
$4,000 u 2012
w2011
Li 2010
$3,000 2009
$2,000
$1,000
$0
Salaries Matl/Spls Capital
General Fund Expenditures
Recreation
Public Works
Community •�' '�
Services
Planning &
Comm Dev
1 General
Gvrn't
Public
Safety
General
Fund Expenditures
% age of
Budget
Actual
Budget
General Government
$
1,224,264
$
557,565
45.54%
Community Services
$
896,228
$
357,185
39.85%
Public Safety
$
5,385,456
$
2,587,352
48.04%
Public Works
$
2,198,677
$
963,520
43.82%
Recreation
$
533,864
$
319,529
59.85%
Planning & Comm Dev
$
212,836
$
91,490
42.99%
Other
$
105,200
$
53,972
51.30%
Total Expenditures
$10,556,525
$
4,930,613
46.71%
General Fund Expenditure Comparison
l st Quarter -(in thousands)
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
2012 2011 2010 2009
4
Special Revenue Fund Revenues
% age of
Budget
Actual
Budget
Chemical Assessment
$ 45,000
$ 10,399
23.11%
Economic Development
$188,500
$ 839,592
445.41%
Parking
$ 88,500
$ 82,875
93.64%
Communications
$201,500
$ 56,002
27.79%
Depot Coffee House
$130,000
$133,344
102.57%
Art Center
$ 781,247
$ 340,985
43.65%
Special Revenue Fund Expenditures
% age of
Budget
Actual
Budget
Chemical Assessment
$ 45,000
$ 32,319
71.82%
Economic Development
$268,553
$ 125,569
46.76%
Parking
$ 88,130
$ 41,937
47.59%
Communications
$ 210,026
$ 97,371
46.36%
Depot Coffee House
$120,175
$ 114,298
95.11%
Art Center
$ 779,452
$ 373,797
47.96%
ti
Special Revenue Funds
Financial Position
Chemical Assessment
Economic Development
Parking
Communications
Depot Coffee House
Art Center
Revenues Expenses
$ 10,399 $ 32,319
$ 839,592 $125,569
$ 82,875 $ 41,937
$ 56,002 $ 97,371
$ 133,344 $ 114,298
$ 340,985 $ 373,797
Change
In Fund Cash
Balance Balance
$ (21,920) $ (23,269)
$ 714,023 $ 738,424
$ 40,938 $ 211,443
$ (41,369) $ 359,023
$ 19,046 $ 34,619
$ (32,812) $(798,712)
6
Enterprise
Funds
Revenues
% age of
Budget
Actual
Budget
Water
$1,387,870
$
517,378
37.28%
Sewer
$2,156,500
$
806,033
37.38%
Refuse
$ 975,360
$
460,740
47.24%
Storm Sewer
$ 811,340
$
402,699
49.63%
Pavilion
$ 361,180
$
253,202
70.10%
6
7
Enterprise
Funds
Expenditures
% age of
Budget
Actual
Budget
Water
$1,234,153
$
602,704
48.84%
Sewer
$1,993,348
$
904,278
45.36%
Refuse
$ 929,976
$
372,311
40.03%
Storm Sewer
$ 527,521
$
190,690
36.15%
Pavilion
$ 419,005
$
188,875
45.08%
7
Enterprise Funds
Net
Income
Cash
Revenues
Expenses
Loss
Balance
Water
$
517,378
$ 602,704
$ (85,326)
$(663,389)
Sewer
$
806,033
$ 904,278
$ (98,245)
$ (1,069)
Refuse
$
460,740
$ 372,311
$ 88,429
$ 601,653
Storm Sewer
$
402,699
$ 190,690
$ 212,009
$ 371,690
Pavilion
$
253,202
$ 188,875
$ 64,327
$ (43,043)
7
Cash & Investments
June 30, 2012
o Bank Sweep Account
o Certificates of Deposit
o Government Securities
Tota I
$ 4,387,091
4,197,000
3,733,726
$ 12,317,817
Cash & Investments
Breakdown by Fund Ownership
General Fund
$3,608,860
Special Revenue Funds
1,631,202
Debt Service Funds
1,126,325
Capital Funds
3,345,895
Internal Service Funds
2,038,686
Enterprise Funds
566,750
Total
$12,317,717
8
Interest Earnings
100,000
75,000
50,000
25,000
0
2012 2011 2010 2009
Looking Ahead
Bond Sale - set for August 21St
Equipment Certificates
Street Improvements
Special Assessment
Water/Sewer/Storm Sewer Revenue
Refunding on 2003 HRA Bonds
o ERP/CIP review on 2013-2017 plan
0 2013 budget review
o Financial Management Plan
2012
2nd QUARTER
FINANCIAL AND INVESTMENT
f REPORT
Questions?