Fourth Quarter 2014 Financial and Investment ReportMEMORANDUM
Date: February 3, 2014
To: Mayor & City Council
From: Christine Harkess, Finance Director
FINANCE DEPARTMENT
Subject: Fourth Quarter 2014 Financial and Investment Report
Attached is the fourth quarter financial and investment report power point presentation. This is a
pre -audit report and is subject to change as we complete our year end work. If you have any
questions in advance please contact me. A full presentation will be given at the council meeting.
2013
4th QUARTER
FINANCIAL &INVESTMENT
REPORT
CITY OF HOPKINS
General Fund — Overview
At the end of 4t" Quarter -
o Revenues are at 104.8% of budget
o Expenditures are at 102.6% of budget
o Report is preliminary as we have not
yet closed out the year.
Grants Received 4th Quarter
Total = $1,518,831
Federal- $25,589 COPS grant
Federal - $84,942 for Fire Safety & Prevention
o State - $13,571 for DDACTS program
o State - $9,453 for TZD,
o State- $31,455 for the Chemical Assmnt Team
o Met Council - $309,500 for developer assistance.
o State Arts Board - $25,246
o Hennepin County - $1,014,075 Community
Works (Shady Oak Road project)
Three Rivers - $5,000 for Depot support
GENERAL FUND
REVENUES
age of
Budget
Actual
Budget
Taxes
$
8,954,274
$
8,785,782
98.12%
Intergovernmental
$
498,510
$
727,497
145.93%
Licenses, Permits &
Fines
$
526,595
$
878,634
166.85%
Charges for Services
$
187,850
$
350,815
186.75%
Miscellaneous
$
413,100
$
343,854
83.24%
Total Revenues
$ 10,580,329
$ 11,086,582
104.78%
I
$10,000
$8,000
$6,000
$4,000
Total General Fund Expenditures
4th Quarter - (in thousands)
■ 2013
rr 2012
w2011
■ 2010
$2,000
$0
i Salaries Matl/Spls Capital
General Fund Expenditures
Planning &
Community
Development ■ Other
_ General
I + Recreation _� Government
i
■ Public Works
i
i'
u Public Safety
■ Community
Services
J
General
Fund Expenditures
age of
Budget
Actual
Budge
General Government
$
1,290,845
$ 1,274,526
98.74%
Community Services
$
902,427
$ 920,902
102.05%
Public Safety
$
5,310,329
$ 5,529,082
104.12%
Public Works
$
2,267,166
$ 2,315,695
102.14%
Recreation
$
544,483
$ 566,826
104.10%
Urban Development
$
218,609
$ 216,457
99.02%
Other
$ 46,470
$ 30,531
65.70%
Total Expenditures
$10,580,329
$ 10,854,019
102.59%
General Fund Expenditure Comparison
4th Quarter -(in thousands)
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
j 2013 2012 2011 2010
4
Special
Revenue Fund Revenues
age of
Budget
Actual
Budget
Chemical Assessment
$
45,000
$ 61,528
136.73%
Economic Development
$
240,000
$ 462,840
192.85%
Parking
$
94,000
$ 92,984
98.92%
Communications
$
223,500
$ 254,308
113.78%
Depot Coffee House
$
330,000
$ 338,962
102.72%
Art Center
$
766,310
$ 772,717
100.84%
Special
Revenue Fund Expenditures
age of
Budget
Actual
Budget
Chemical Assessment
$
45,000
$ 72,559
161.24%
Economic Development
$
286,814
$ 295,140
102.90%
Parking
$
89,094
$ 138,990
156.00%
Communications
$
218,264
$ 211,180
96.75%
Depot Coffee House
$
327,300
$ 356,699
108.98%
Art Center
$
765,418
$ 755,003
98.64%
5
Enterprise Funds Revenues
Special Revenue Funds
Financial Position
age of
Budget
Actual
Change
Water $ 1,464,385
$ 1,509,573
103.09%
Sewer $ 2,037,150
In Fund
Cash
Refuse $ 988,700
Revenues
ExpensesBalance
Storm Sewer $ 809,940
Balance
Chemical Assessment
$ 61,528
$ 72,559
$ (11,031)
$ (21,179)
Economic Development
$ 462,840
$ 295,140
$ 167,700
$2,225,897
Parking
$ 92,984
$ 138,990
$ (46,006)
$ 176,470
Communications
$ 254,308
$ 211,180
$ 43,128
$ 360,596
Depot Coffee House
$ 338,962
$ 356,699
$ (17,737)
$ 5,558
Art Center
$ 772,717
$ 755,003
$ 17,714
$ (742,938)
Enterprise Funds Revenues
age of
Budget
Actual
Budaet
Water $ 1,464,385
$ 1,509,573
103.09%
Sewer $ 2,037,150
$ 2,004,590
98.40%
Refuse $ 988,700
$ 941,430
95.22%
Storm Sewer $ 809,940
$ 805,428
99.44%
Pavilion $ 366,100
$ 370,453
101.19%
6
Enterprise Funds Expenses
Enterprise Funds
Financial Position
%age of
Budaet
Actual
Budaet
Water $ 1,290,716
$ 1,355,069
104.99%
Sewer $ 2,151,056
$ 1,979,097
92.01%
Refuse $ 878,275
$ 838,616
95.48%
Storm Sewer $ 533,304
$ 557,810
104.60%
Pavilion $ 419,981
$ 427,202
101.72%
%I
Enterprise Funds
Financial Position
Net
Income
Cash
Revenues Expenses
Loss
Balance
Water
$ 1,509,573 $ 1,355,069
$ 154,504
$ 1,106,572
Sewer
$ 2,004,590 $ 1,979,097
$ 25,493
$ 889,402
Refuse
$ 941,430 $ 838,616
$ 102,814
$ 799,389
Storm Sewer
$ 805,428 $ 557,810
$ 247,618
$ 1,317,587
Pavilion
$ 370,453 $ 427,202
$ (56,749)
$ 147,231
%I
0
Cash & Investments
December 31, 2013
Bank Sweep Account
Certificates of Deposit
Government Securities
Tota
$ 6,350,931
6,862,000
8,176, 030
$ 21, 388, 961
Cash & Investments
Breakdown by Fund Ownership
General Fund
Special Revenue Funds
Debt Service Funds
Capital Funds
Internal Service Funds
Enterprise Funds
Tota I
$5,493,462
3,199,892
314921584
21888,693
210541148
412601183
$21,388,961
8
Interest Earnings
Looking Ahead
o Financial Management Plan -
Finalize and implement
o Annual Audit
0 2014 Bond Sale for 2014 street projects
o Financial Software Update
o Utility Rate Study
9