Third Quarter 2012 Financial and Investment ReportMEMORANDUM
Date: October 16, 2012
To: Mayor & City Council
From: Christine Harkess, Finance Director
FINANCE DEPARTMENT
Subject: Third Quarter 2012 Financial and Investment Report
Attached is the third 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
3rd QUARTER
FINANCIAL & INVESTMENT
REPORT
CITY OF HOPKINS
General Fund — Overview
if At the end of 3rd Quarter -
Revenues are at 73.53% of total
budget
Expenditures are at 73.09% of
budget
Grants Received 3rd Quarter
o Federal- $18,688 COPS grant
o State - $600 Cops "n Kids
o State - $1,830 for SWI Enforcement
o State - $11,140 for Fire Prevention
o State - $7,000 for Firefighter training
o State- $25,396 for the Chemical
Assessment Team
o Hennepin County - $27,446 for Recycling
grant (installment payment)
GENERAL
FUND
REVENUES
% age of
Budget
Actual
Budget
Taxes
$
8,889,091
$
6,666,005
74.99%
Intergovernmental
$
512,370
$
223,624
43.65%
Licenses, Permits &
Fines
$
485,615
$
419,828
86.45%
Charges for Services
$
245,150
$
174,361
71.12%
Miscellaneous
$
399,299
$
273,262
68.44%
Interest Income
$
25,000
$
4,735
18.94%
Total Revenues
$10,556,525
$
7,761,815
73.53%
2
Total General Fund Expenditures
3rd Quarter - (in thousands)
■ 2012
$7,000 2011
$6,000 2010
$5,000 2009
$4,000
$3,000
$2,000
$1,000
$0
Salaries Matl/Spls Capital
General Fund Expenditures
Recreation
-
M Public Works
Other Planning &
Community
opment
i General
Government
j
Communit J
Y
Services
Public Safety
General
Fund Expenditures
% age of
Budget
Actual
Budget
General Government
$
1,224,264
$
900,551
73.56%
Community Services
$
896,228
$
599,956
66.94%
Public Safety
$
5,385,456
$
3,994,745
74.18%
Public Works
$
2,198,677
$
1,564,037
71.14%
Recreation
$
533,864
$
430,482
80.64%
Planning & Comm Dev
$
212,836
$
144,896
68.08%
Other
$
105,200
$
81,292
77.27%
Total Expenditures
$10,556,525
$
7,715,961
73.09%
General Fund Expenditure Comparison
3rd Quarter - (in thousands)
$8,000
$6,000
$4,000
$2,000
$0
2012 2011 2010 2009
M
Special Revenue Fund Revenues
% age of
Budget
Actual
Budget
Chemical Assessment
$
45,000
$ 38,538
85.64%
Economic Development
$
188,500
$ 976,751
518.17%
Parking
$
88,500
$ 85,917
97.08%
Communications
$
201,500
$ 109,523
54.35%
Depot Coffee House
$
130,000
$ 228,388
175.68%
Art Center
$
781,247
$ 496,742
63.58%
Special Revenue Fund Expenditures
% age of
Budget
Actual
Budget
Chemical Assessment
$
45,000
$ 52,956
117.68%
Economic Development
$
268,553
$221,229
82.38%
Parking
$
88,130
$ 66,380
75.32%
Communications
$
210,026
$161,248
76.78%
Depot Coffee House
$
120,175
$199,533
166.04%
Art Center
$
779,452
$ 538,932
69.14%
5
Special Revenue Funds
Financial Position
Chemical Assessment
Economic Development
Parking
Communications
Depot Coffee House
Art Center
Revenues Expenses
$ 38,538 $ 52,956
$ 976,751 $ 221,229
$ 85,917 $ 66,380
$ 109,523 $161,248
$ 228,388 $ 199,533
$ 496,742 $ 538,932
Change
Enterprise Funds
In Fund
Cash
Balance
Balance
$ (14,418)
$ (15,766)
$ 755,522
$ 738,947
$ 19,537
$ 191,188
$ (51,725)
$ 350,145
$ 28,855
$ 20,690
$ (42,190)
$(805,533)
0
Enterprise Funds
Revenues
% age of
Budget
Actual
Budget
Water
$1,387,870
$1,164,332
83.89%
Sewer
$ 2,156,500
$1,528,068
70.86%
Refuse
$ 975,360
$ 712,876
73.09%
Storm Sewer
$ 811,340
$ 600,916
74.06%
Pavilion
$ 361,180
$ 273,320
75.67%
0
Enterprise Funds
Expenditures % age of
Budget Actual Budget
Water $1,234,153 $ 929,552 75.32%
Sewer $1,993,348 $1,338,998 67.17%
Refuse $ 929,976 $ 600,438 64.56%
Storm Sewer $ 527,521 $ 335,404 63.58%
Pavilion $ 419,005 $ 271,981 64.91%
7
Enterprise Funds
Net
Income
Cash
Revenues
Expenses
Loss
Balance
Water
$1,164,332
$ 929,552
$234,780
$
329,563
Sewer
$1,528,068
$1,338,998
$189,070
$
354,094
Refuse
$ 712,876
$ 600,438
$112,438
$
697,052
Storm Sewer
$ 600,916
$ 335,404
$265,512
$
928,843
Pavilion
$ 273,320
$ 271,981
$ 1,339
$
93,389
7
Cash & Investments
September 30, 2012
o Bank Sweep Account $ 7,679,677
o Certificates of Deposit 5,162,000
o Government Securities 3,175,000
Total $16,016,677
Cash & Investments
Breakdown by Fund Ownership
General Fund
Special Revenue Funds
Debt Service Funds
Capital Funds
Internal Service Funds
Enterprise Funds
Total
$2,614,891
2,150,904
2,160, 537
4,657,440
2,029,964
2,402,941
$16,016,677
M.
Interest Earnings
$120,000
$100,000
$80,000 �
$60,000
4`
$40,000
$20,000
i
$0
2012 2011 2010 2009
Looking Ahead
2013 budget hearing set for
December 41h at 7:30 pm
Financial Management Plan
Debt Management Plan
Debt Compliance Plan
2012
3rd QUARTER
FINANCIAL AND INVESTMENT
REPORT
Questions?
10