Second Quarter 2013 Financial and INvestment ReportMEMORANDUM FINANCE DEPARTMENT
Date: July 23, 2013
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: Second Quarter 2013 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.
2013
2nd QUARTER
FINANCIAL AND INVESTMENT
REPORT
CITY OF HOPKINS
General Fund — Overview
At the end of 2nd Quarter -
Revenues are at 48% of total budget
Expenditures are at 46% of budget
Grants Received 2nd Quarter
o Federal- $23,796 COPS grant
o State - $5,437 TZD Grant
o State- $12,774 for the Chemical Assessment
Tea m
o Met Council - $9,414 for Klodt Development
o Three Rivers - $5,000 for the Depot
o State - $5,425 MN Arts Board for Arts Center
GENERAL FUND
REVENUES
age of
Buduet
Actual
Budget
Taxes
$
8,954,274
$4,409,717
49.25%
Intergovernmental
$
498,510
$ 98,809
19.82%
Licenses, Permits &
Fines
$
526,595
$ 369,430
70.15%
Charges for Services
$
187,850
$ 131,970
70.25%
Miscellaneous
$
413,100
$ 84,880
20.55%
Total Revenues
$10,580,329
$ 5,094,806
48.15%
2
Total General Fund Expenditures
2nd Quarter - (in thousands)
$4,000 2013
2012
2011
$3,000 I 2010
L-_
$2,000
$1,000
$0 —
Salaries Matl/Spls Capital
General Fund Expenditures
Planning &
Comm Dev Other
RecreationGeneral
_ Gvrn't
S
i �
i
Public Works
Public
Safety
Community
Services
i
General
Fund Expenditures
%age of
Budaet
Actual
BBudaet
General Government
$
1,269,025
$ 548,781
43.24%
Community Services
$
901,681
$ 356,423
39.53%
Public Safety
$
5,310,329
$ 2,481,075
46.72%
Public Works
$
2,266,002
$ 967,804
42.71%
Recreation
$
544,483
$ 343,728
63.13%
Urban Development
$
218,609
$ 96,771
44.27%
Other
$ 70,200
$ 94,079
134.02%
Total Expenditures
$10,580,329
$4,888,661
46.21%
General Fund Expenditure Comparison
2nd Quarter -(in thousands)
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
_.
2013 2012 2011 2010 I,
4
Special
Revenue Fund Revenues
age of
Budget
Actual
Budget
%age of
$
45,000
Budaet
Actual
Budget
Chemical Assessment
$
45,000
$ 12,860
28.58%
Economic Development $
240,000
$ 197,216
82.17%
Parking
$
94,000
$ 75,770
80.61%
Communications
$
223,500
$ 59,818
26.76%
Depot Coffee House
$
330,000
$ 171,248
51.89%
Art Center
$
766,310
$ 367,627
47.97%
Special Revenue Fund Expenditures
age of
Budget
Actual
Budget
Chemical Assessment
$
45,000
$ 40,967
91.04%
Economic Development
$
286,814
$ 114,538
39.93%
Parking
$
89,094
$ 64,963
72.91%
Communications
$
218,264
$ 106,334
48.72%
Depot Coffee House
$
327,300
$ 152,585
46.62%
Art Center
$
765,418
$ 419,094
54.75%
5
Enterprise Funds Revenues
Special Revenue Funds
Financial Position
age of
Budget
Actual
Change
Water $1,464,385
$ 646,222
44.13%
Sewer $2,037,150
In Fund
Cash
Refuse $ 988,700
Revenues
Expenses
Balance
Balance
Chemical Assessment
$ 12,860
$ 40,967
$(28,107)
$ (25,160)
Economic Development
$ 197,216
$ 114,538
$ 82,678
$ 1,980,730
Parking
$ 75,770
$ 64,963
$ 10,807
$ 187,658
Communications
$ 59,818
$ 106,334
$(46,515)
$ 334,782
Depot Coffee House
$ 171,248
$ 152,585
$ 18,662
$ 18,660
Art Center
$ 367,627
$ 419,094
$(51,467)
$ (859,004)
Enterprise Funds Revenues
age of
Budget
Actual
Budget
Water $1,464,385
$ 646,222
44.13%
Sewer $2,037,150
$ 951,233
46.69%
Refuse $ 988,700
$ 450,929
45.61%
Storm Sewer $ 809,940
$ 399,347
49.31%
Pavilion $ 366,100
$ 243,169
66.42%
2
Enterprise
Funds
Expenditures
age of
Net
Budget
Actual
Budget
Water
$ 1,290,716
$ 615,496
47.69%
Sewer
$2,151,056
$ 945,091
43.94%
Refuse
$ 878,275
$ 361,272
41.13%
Storm Sewer
$ 533,304
$ 203,722
38.20%
Pavilion
$ 419,981
$ 195,889
46.64%
7
Enterprise Funds
Financial Position
Net
Income
Cash
Revenues Expenses Loss
Balance
Water
$
646,222 $ 615,496 $ 30,726
$
826,290
Sewer
$
951,233 $ 945,091 $ 6,142
$
768,778
Refuse
$
450,929 $ 361,272 $ 89,657
$
714,839
Storm Sewer
$
399,347 $ 203,722 $195,625
$1,214,148
Pavilion
$
243,169 $ 195,889 $ 47,280
$
182,916
7
Cash & Investments
June 30, 2013
Bank Sweep Account
Certificates of Deposit
Government Securities
Tota I
$ 5,369,842
7,113, 000
8,046,451
$ 20, 529, 293
Cash & Investments
Breakdown by Fund Ownership
Cash & Investments
General Fund
$3,786,087
Special Revenue Funds
3,113,265
Debt Service Funds
1,438,054
Capital Funds
6,323,628
Internal Service Funds
2,161,288
Enterprise Funds
31706,971
Tota 1
$20,529,293
0
Interest Earnings
100,000
75,000
50,000
25,000
0
2013 2012 2011 2010
Looking Ahead
ERP/CIP Approval
2014 Budget Review
Financial Management Plan
Review/Update Conduit Debt Policy
I