Third Quarter Financial ReportMEMORANDUM
Date: October 15, 2013
To: Mayor & City Council
From: Christine Harkess, Finance Director
FINANCE DEPARTMENT
Subject: Third Quarter 2013 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.
2013
3rd QUARTER
FINANCIAL AND INVESTMENT
REPORT
CITY OF HOPKINS
General Fund — Overview
At the end of 3rd Quarter -
o Revenues are at 77% of total budget
o Expenditures are at 74% of budget
Grants Received 3rd Quarter
Total = $217,997
o Federal- $21,884 for COPS grant
o State - $12,097 for DDACTS Grant
o State - $6,445 for TZD Grant
o State - $79,348 for Fire Prevention
o State - $3,804 for Firefighter training
o State- $15,694 for Chemical Assmnt Team
o State - $50,000 DEED Grant for Klodt
o Hennepin Co - $3,500 Active Living Grant
o State Arts Board - $641 for Arts Center
o Hennepin Co - $24,584 Recycling Grant
GENERAL
FUND
REVENUES
age of
Budget
Actual
Budget
Taxes
$ 8,954,274
$ 6,689,060
74.70%
Intergovernmental
$
498,510
$ 311,447
62.48%
Licenses, Permits &
Fines
$
526,595
$ 654,649
124.32%
Charges for Services
$
187,850
$ 256,669
136.64%
Miscellaneous
$
413,100
$ 253,111
61.27%
Total Revenues
$10,580,329
$ 8,164,936
77.17%
Total General Fund Expenditures
3rd Quarter - (in thousands)
$7,000 ■ 2013
$6,000 2012
2011
$5,000 ■ 2010
$4,000
$3,000 -
--._..---- --------------
$2,000
---------$2,000
$1,000 --- ------
$0
Salaries Matl/Spls Capital
General Fund Expenditures
y Other - ■ Planning &
Community
Recreation Development
_ General
Government
y Public Works
/i Public Safety
o Community)
Services
N
n
General Fund Expenditures
age of
Budaet Actual Budaet
General Government $ 1,269,025 $ 891,544 70.25%
Community Services $ 901,681 $ 610,970 67.76%
Public Safety $ 5,310,329 $ 3,936,958 74.14%
Public Works $ 2,266,002 $1,631,845 72.01%
Recreation $ 544,483 $ 461,495 84.76%
Urban Development $ 218,609 $ 156,285 71.49%
Other $ 70,200 $ 92,461 131.71%
Total Expenditures $10,580,329 $ 7,781,558 73.55%
General Fund Expenditure Comparison
3rd Quarter -(in thousands)
4
Special Revenue Fund Revenues
%age of
Budaet
Actual
Budaet
Chemical Assessment
$
45,000
$ 30,073
66.83%
Economic Development
$
240,000
$ 243,790
101.58%
Parking
$
94,000
$ 84,227
89.60%
Communications
$
223,500
$ 179,282
80.22%
Depot Coffee House
$
330,000
$ 251,986
76.36%
Art Center
$
766,310
$ 487,903
63.67%
Special Revenue Fund Expenditures
age of
Budaet Actual Budaet
Chemical Assessment $ 45,000 $ 51,680 114.84%
Economic Development $ 286,814 $ 155,153 54.10%
Parking $ 89,094 $ 109,713 123.14%
Communications $ 218,264 $ 136,600 62.58%
Depot Coffee House $ 327,300 $ 254,276 77.69%
Art Center $ 765,418 $ 555,519 72.58%
5
Special Revenue Funds
Financial Position
Change
Budaet
Actual
In Fund
Cash
Revenues Expenses
Balance
Balance
Chemical Assessment $ 30,073 $ 51,680
$(21,607)
$ (18,660)
Economic Development $ 243,790 $ 155,153
$ 88,637
$2,104,023
Parking $ 84,227 $ 109,713
$(25,486)
$ 151,428
Communications $ 179,282 $ 136,600
$ 42,682
$ 368,581
Depot Coffee House $ 251,986 $ 254,276
$ (2,290)
$ 8,010
Art Center $ 487,903 $ 555,519
$(67,616)
$ (874,667)
Enterprise Funds Revenues
age of
Budaet
Actual
Budget
Water $ 1,464,385
$ 1,147,305
78.35%
Sewer $2,037,150
$1,506,396
73.95%
Refuse $ 988,700
$ 710,410
71.85%
Storm Sewer $ 809,940
$ 602,779
74.42%
Pavilion $ 366,100
$ 267,076
72.95%
6
7
Enterprise Funds Expenses
Funds
age of
Budget
Actual
Budaet
Water $ 1,290,716
$ 972,199
75.32%
Sewer $2,151,056
$ 1,454,296
67.61%
Cash
Refuse $ 878,275
$ 575,206
65.49%
Storm Sewer $ 533,304
$ 383,454
71.90%
Water
Pavilion $ 419,981
$ 295,753
70.42%
7
Enterprise
Funds
Net
Income
Cash
Revenues
Expenses
Loss
Balance
Water
$1,147,305
$ 972,199
$
175,106
$
967,056
Sewer
$1,506,396
$ 1,454,296
$
52,100
$
865,078
Refuse
$ 710,410
$ 575,206
$
135,204
$
807,214
Storm Sewer
$ 602,779
$ 383,454
$
219,325
$1,260,487
Pavilion
$ 267,076
$ 295,753
$
(28,677)
$
126,134
7
Cash & Investments
September 30, 2013
Bank Sweep Account $ 4,603,013
Certificates of Deposit 4,902,000
Government Securities 8,301,538
Tota 1 $ 17, 806, 551
Cash & Investments
Breakdown by Fund Ownership
General Fund
Special Revenue Funds
Debt Service Funds
Capital Funds
Internal Service Funds
Enterprise Funds
Tota I
$2,979,786
3,168, 229
2, 075,126
3,512,184
2, 045, 258
41025,968
$17,806,551
8
Interest Earnings
$100,000
$80,000
.t"
$60,000
$40,000
$20,000
$0
2013 2012 2011 2010
Looking Ahead
Special Revenue & Enterprise Funds 2014
Budget Review
2014 budget meeting set for December 3rd
at 7:00 pm
Financial Management Plan - continue to
review and refine
y