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HomeMy WebLinkAbout4D, First Quarter 2011 Financial Reports� EN HILLS Reque�t for Council Action Prepared By: Sue Iverson, Director af �inance CounciI Meeting Date: June 27, 2011 and Ad�ninistrative Services Firs� Quarter 2011 Financial Reports Budgeted Amouni: Actual Amount: Funding Source: NA NA NA Recommendation: A mation to accept the 2011 lst Quarter Financial Reports as presented. Su ortin Documenis: 1. Memorandum dated June 27, 2011 fro�n Sue Iverson. 2. 1$t Quarter Financial Reports. � EN HILLS MEMORANDUM DATE. Jur�e 27, 2011 TQ: Honorable Mayor and City Council Pat�rick Klaers, City Adzx�inistrator FROM: Sue Iverson, Direcior of Rinance and Administrative Services SUBJECT: 2011 lst Quarter Actuals Sackground/Discussion: Attached are the 151 Quarter Actuals for 2011. Overall expenditures are running slightIy below budget estinnates. PIease rennecnber that we receive 50% of our revenue froim p�operty taxes and wil! not received the 2"d haIf until December. Governmental accour�tir�g is not done on an accrual basis, therefore the numbers reflect what was actua�ly taicen in as re�enue or paid out as expenditures thru March 3 i, 2011. Accruals, deferred revenue adjustments, etc. are only done at year-end. Basically expenditures fram operating activities are running close to the budget estimates, revenues are slightly below budget estinrzates. (Please note that the overall percentages look lower because property taxes, liquor izcenses, etc are collected at year-end.) An Investment Portfolio has also been included with these financia� reports. Per the Investment Policy, our Benchmark Rate is the 4M plus Rate. At March 31, 2011 — this rate was 0.02% and our portfolio is averaging 2.362%. All of our investments are in government secured or governrnent backed deposits. The section listed af the top of the por�folio are the "liquid" investments that we can access at anytime. Ws are trying to stay diversified in this area and will be transferring between these accounts. We have had some of our high interest notes call and I am working on cash flows with the PMP and other CIP projects ta determine haw much I can invesfi and %r what time pariods. 38% oi our funds are in the League of Minnesota Cities 4M Fund and �M Plus accounts. Staff Recommendation: Staff requests that Council accept the 15` Quarter Financial Repor�s. ,_ _ l .. ...... ... .. SO'ffi6'RS aWooullulLLOZ[e�ol %O50'0 e�easnldWb-�'�ewyouag 00'0$ p,�il7ouiultLOZ 5Z'S64'fi9S LLOZPAaaL�IOLOZ °hf6L'L Ia�eWRauaWo�mwniayloa�eaparle�uuy OEBEL�9L5 iLoxaaatswaNt oasc�z wmaaioaisaaa=�.re���vne+a�o al4ell�=�- �� � 00'OS 0£'BEL3L4 LB'1LSLV9LLY OS'V029LL$ %L9E'2 66'CfitC69LL$ %OOL ivaw�sanu�IWol LLOZ'LE 4�QW s�srtie�y o��o�,oa rvaw�:a��i �n!H �awniok!� 96'S90 V 85'9L9 600 Z ZE'0 9f'SLB ZF 0 L'0 BL'Ofi£ Zfi'S1669L 08ZL8E ZE6818Z6 £0'0 L6'69 Z6'EL ZB'BEBZIL Lf'04 Gf'OL LS t SL'9EL 8$ te�se £OOBBLSL$ :az�,�wn:=s .:ac��y,?s:<.:=:=:e�a=nw:v�nww::: : :::a'wuaio:::: '::::::1'sa�ei�?I;:: � :: ::::::::::::::::::::::::�;:;: Cify of Arden Hills 2017 8udget Revenues xaapcea FY 2011 Mayor E Counal Elections Administration Finance 8 Suppart Services Planning & Zoning Govemment Buil6ings public Safety Emergancy Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating ArUen Hills Total Gerteral Fund Cadle Fund RisK Management Park Fund Community Services EOA General Fund EDA TIF #3 Coqage Villas EDA Revolving Funtl EDA TIF #2 Round �ake Total Specfal Revenua Funds GO Tax Increment BonCs of 1998A Total �ebt Service Funds Equipment, Bldg & Replacement Public Safety Capilal Capiial Improvement Funtl (PIRj Total Gapifal Funds Water Sanitary Sewer RecyGing Surfaca Water Management Total Enterprise Funds Tatal Operating Revenues Mayor & Council Elections Administration Finance Planning & Zoning Govemment Buildings Pu61ic Safety Emergency Management Proleclive Inspectians Streel Mainlenance Park Mainfenance Recreation Geleb�ating Arden Hills TransFers Total GeneraE Fund TCAAP Cable Fund Risk Management Park Fund Community Sen,icas EDA General Funtl EQA TIF #3 Goktage Villas EDA Ravalving Fund EDA T!F #2 Round l.ake Total Special Revenue Funds $ - $ - - - 3,205,540 A2,33S 3,ifi3,202 1°k 53,6i7 (44) 53,661 0% 80,74� 9,170 51,530 15% 97,474 • 97,474 0°k 102,367 5,536 96,851 5°/a 202,300 36,032 166,2fi8 18°k 68,199 38,087 30,113 56°k 3,500 1,432 2,069 41% 88,500 34,1fi2 54,338 39°/a 15,000 A,950 10,050 33% 3,897,2i7 171,652 3,725,554 4% 70,000 1 69,999 0°!0 83,000 23,473 59,527 2$ % 15,000 2,094 12,906 14% - 900 (900} - 40,400 8,315 32,085 21°� 9,100 384 8,7P6 4% 32,000 731 31,269 2°h 2,500 861 1,639 3496 460,000 6 9'E i k53 089 2 k 792,000 43,681 fi68,319 6% 10,000 - 14,000 0% 15,000 2,726 12,274 i8°k 580,000 46,833 533,167 8k 605,000 49,559 555,4A1 8 % 1,828,160 197,960 1,630,200 11% '€,793,833 175,135 1,618,698 10°!0 936,8$5 17,120 119,765 93°k 540,322 81,161 459,161 15% 4299,200 471,376 3,827,824 11% 9,513,417 736,278 8,777,139 8°k 12,fi00 - 12,600 0% 12,60Q - 12,500 0 % GO Tax Increment Bonds of 1998A Total �ebt Service Funds Equipment, Bldg 8 Replacement Pudfc Salety Capilal Cepital fmprovemenf Fun6 (PIRy iotal Capilal Funds Water Sanitary Sewer Recycling Surtace Water Management Total Enterprise Funds Totaf Ofher Financing 5ources Prior Period Adjustment 284,375 284,375 0% 284,375 - 28A,375 095 183,000 - 183,060 0% 25,000 - 25,000 0°b 200,000 200,000 0°� A08,000 - 408,000 0% 704,476 - 704,975 0% Totaf Re�ertues $10,216,392 S 736,278 9,482,414 7% Clty ofArden Hills 2611 Budget 6xpentliturea Mayor & Council Eleetions Administration Finance & Suppoh Senrices Planning 8 Zoning Govemment Buildings Pu61ic Safety Emergency Management Protecliva Inspections Street Maintenance Park Maintenance Recreation Celebrating AMen Hills ReserveslConHngency Total Ger�eral Fund Ca61e �untl Risk Management Park F�nd Community Services E�A General Fund E�A TIF #3 Cottage Villas EDA Revolving Fund �pA Tlr #2 Rpund 4ake Total Special Revertue Funds GO i�ax Incremant Bonds of 1998A Tatal Oebt Service Funds Equipment, 61tlg & ReplacsmsN Public Safety Capifal Capital Improvement Fund {PIR} Total Capital Funds y Sewer ng a Water ManagemeM Total Enterprise Funds Total Operating Expenses $ &9,706 $ 19,881 $ 49,825 29% 1,720 - 1,720 0% 338,828 69,493 289,415 20% 939,745 34,378 105,367 25°h 270,806 46,125 224,681 17°k 237,870 29,442 208,428 12% 1,362,223 432,458 929,765 32°h 26,445 ' 1,336 25,109 5°k 259,302 56,442 202,880 22�h 280,983 87,926 183,057 31% /i2,825 87,197 325,628 21%a 2i8,953 A0,563 178,390 19% 25,000 - 25,000 0% 20,211 - 20,211 0°h 3,664,6i7 945,160 2,758,457 25% 70,000 1,744 68,256 2°k 78,671 30,373 48,298 39"k 27,afl0 1,832 25,168 7°h - 7,902 (7,9021 - 25,000 - 25,000 0% 12,000 - '€2,000 0°h 4,000 - 4,000 0°h 9,390 1,390 0°k 217,971 41,851 176,120 19°h 1,815,859 373,041 1,442,518 21%a 1,476,717 3i9,615 i,157,102 22°k 935,950 21,262 144,688 16°k 369,338 48,15a 321,184 13'k 3,797,8fi4 762,073 3,035,791 20% 7,680,462 9,749,083 6,971,369 22% Mayor & Council Elecfions Adminisfration Finance & SuppoR Services Planning R Zoning Govemment Buildings Pu61ic Safety Emergency Management Protective Inspections Str'eet Maintenance Park Maintenance Recreation Celebratina Arden Hilis Tatal General Fund : Fund Nianagement Fund �rtunity Services Gene�al Fund 71F #3 Coltage Vipas Revolving Fund TIF #2 Round Lake Total Special Revenue Funds - 13 [13} - - 163 (163f - - 176 {176} - 20,060 194 18,$47 1% 5,000 (A1,315� A6,315 -B26% 15,000 - 15,090 0% 40,000 (41,122} 81,122 -403k Tax Incremen[ Bonds af 1998A Total �ebt Servire Funds ipment, Bldg 8 Replacement �ic Safety Capital ital Impro�ement Fund (PIR} Tofal Capital Funtls y Sewer ing � Ws1er Managemeni Total Enterprise Furtds Total Capital Ouday Tax fncrement Bonds of 1998A Total Debt Service & Council =inance & Support Services �lanning & Zon[ng 3ovemmeni Buildings �ublEc Safety =mergency ManagemeM 'rotective Inspections 3lreet Maintenance �ark Main[enance �ecreatfon vele6ratingA�den Hifls iransfers Total General Fund- �able Fund Risk Management �ark Fund :ommunf[y Services _OA General Funtl =DA TiF #3 Cottage Villas =�A RevalVing Fund =4A 7I F #2 Rourtd Lake Total Special Re�enue Funds 30 Tax Incremenf Bontls of 1998A Total �e6t Service Funds �quipment, Bltlg 8 Replacement 'ublic Safety Capilal :apital Improvement Funtl (PIR) Total Capital Funds Sanitary Sewer Recycling SurFace Wafer Management Total Enterprise Funds Total Other Financing lJses 755,638 12,035 � 743,603 295 95,376 69,1A0 26,236 72°k 1,971,000 9,Sfi1 i,S61,439 4% 2,822,044 90,738 2,731,278 3°k 368,140 (6,746) 374,886 -2 % 625,190 (6,495y 631,585 -1°k 560,000 (4,483� 564,483 -135 1,553,240 {17,724y 4,570,864 -1 % 4,418,264 32,067 4,383,187 7°/, 264,375 2&6,275 18,140 94°/a 284,375 266,275 18,1U0 94% 252,600 252,600 0°k 252,600 - 252,600 0 % 284,375 2&4,375 0°� 28A,375 - 284,375 0% 43,000 - 43,000 0°6 62,000 - 62,940 0°k 38,�00 38,00� 0°h 943,000 - 143,004 0% 679,975 - 679,975 4% TotalExpenditures S13,UBU,058 $2,007,A25 11,052,fi31 15% City of Arden Hi31s General Fund Summary 2011 Budget Adopted Actual Balance YTD F1'201? 3731120i1 Available %ofBu $ 3,04�,964 $ 17,350 $3,023,fi1A 21,461 {21,387� A2,858 7,506 1,538 5,562 - (A,823} 4,823 - (1,929y 1,928 3,069,925 {8,9&1} 3,078,686 1% -100% 25% 101-4130fl39010 CurrentAdValoremTaxes 101-4130031011 Payments in Lieu of T�es 101-41904-3102Q �elEnquentAd Vaiarem Taues 101-41304-31034 Mohile Home Tax 101-41304-31044 FiscalDisparifies 1 01-4 9 30 0-3151 0 Aggregate Removal Tax 101-41304-318�4 Penalties & Interest on Taxes 101�130D-31920 Forfeited Tax Sales Totai 7axes �Icenses and Permlts 101�4130032110 L.iquo�, On Sale & Sunday 1 01-41300321 1'{ l.iquor, pff Sale 101-4130032760 Contractprs 1 01-41 91 0321 70 Rental Regulalion Fee 101-4130032780 Business Licenses 101-41300-3238i Other6�sinessLiclPermits 101-42400-32210 Plan Review 8 Bldg Pemtils 101-A2A003222D Mechanical Permits 101-42A00-32230 Plumbing Pertnits 101-41300-32240 Anima! Licenses 101�1910-32250 Sign Permi45 101�41300-32250 Sign PermitRenewal 101 �2400-32260 Electrical Pertnits 101-4240Q32270 UUEity Persnit Fees 101-4240D-32275 Fire Suppression Pennits 101-4240p-32278 Fire Pertnit Plan Check Fee 103-4191D-32279 ErosionlGrading Permit 109-41300-32280 O[her Nanbusiness LiclPertnits "fotal Licenses and Permits InferaavemmentalRevenuea 1o4-A1300-33402 Market Value Homestead Credil 101-A1300-33403 Mo6fle Home Homestead Credil 101�L1300-33420 StatePER,4Ai6 1 01-421 00-3341 6 PoliceAid 101�31 00-3 341 8 MSA Maintenanca i0t�1910-33422 StateGrants i OS-4i410-33621 Oq�aT County Granls & Aids Otiier Intergovemmental Charaes far Services �E01-4i910-3A143 Zoning ana Subdivision Fees S01-A�910-3A10A Pfan Checking Fees 501-h1300-34105 Sale of Maps an6 PublicaGons 101-21910-34106 Pfat& Otl�er Fees 101�t300-34108 Admin Chgs from other funds 101�15a0-34108 Admin Chgs from other funds 101�1940-34108 Admin Chgs from other funds 101�191 0-341 1 0 Zaning Partnit Fees 1 01-01 50034250 BusinessSu6sidiaryAppFee 101�539034120 WatetTowerAntenna Rentals 101�41390-34121 Other Generel Govt Gharges 101-4210034202 False Alarms 101-42100-34246 impound Fees 101-42400-3A207 State Building Cotle Surchargas 101-42A40-3A208 Ciry Buifding CoQe Surcharges 90i-A19h0-3k101 CiryHallRental 101�5200-34300 Park Pacility RenWl Fees 141�5120-34730 Summer Playground Fees 161--05120-34740 5umme�TiipFees 1Q1-45120�4781 Adult Programs 1 01-051 20 3 47 82 Youth Programs 101-05120�4765 AduH Softball 101-0512034790 AfterSchoolPmgrams 101-45120�4791 Special Events Pmgram5 101-419'EO-3A950 OlherChargesforServress Tolal Charges for Services 0°/a 25,D00 - 25,000 �% 5,500 2,400 3,100 44% 3,400 40 3,360 1% 13,00� 1,OA0 11,960 B% 4,000 310 3,690 B% 128,000 1A,919 i13,081 12% 28000 9,144 16,856 35% 10,aaa 9,577 8,423 1fi% 3,500 800 2,7a0 23% 1,300 100 1,206 B%a - 140 (140) - 2fl,000 6,584 13,47fi 33%a 300 350 {50) 117%a fi,000 1,937 A,063 32%a 3,000 - 3,000 0%a 9,640 - ?,600 0°/a 2,000 1�0 t,900 5%a 252,660 39,A4t 213,158 16°h (6i,774} - (61,774) 0% 5,179 - 5,179 0% 49,946 - 49,946 �% 67,649 38,009 29,641 56% 61,000 38,009 22,392 62% 42,OOfl 11,900 23,314 40,117 97,474 1,200 se,aao 3,300 2,000 8,000 1,000 3,500 12,000 20,000 41,04� 12,000 3 500 saa 386,601 6,155 2,875 33,462 6,1 fi0 16� 1,526 (5} 9,432 3,993 16,935 fi,88A 3,180 720 85,417 35,845 8,125 23,3t0 40,1'E7 97,A74 1,200 31,538 (2,860} 1,900 6,474 1,005 2,069 8,407 1,065 34,116 8,820 2,780 ao�,iaa 15% 26% 0% 0% Q �6 Q �6 51% i S7% 5% 19% -1 % 43 % 33% 95% 17% 27%a 2'f °/a 22 � A(70p100 FY 2011 Fines & Forfeits 101-421003b114 Highway Patral Fines 1 01-42 9 00-351 30 �Wf Fo�#eitures 101-42100-35140 Uolafions Bureau 101-42400-35150 Tobaccn Fines 101-42100-35160 Atlministrative Fines 101�2i00-35200 Fo�feits Total Flnes & Forfeiis MiscelEa�eous 1 01-41 300-362 9 0 Interest Income 101-41300-36230 GantributionslDonafions 101-41940-38230 CantributionslDonafions 101-45120-36230 Contributionsl�onations 101115400-36230 ConlributionslDonations 101115204-3623� ContributionslDanatians 101111300-36215 Cantlidate FilEng Fee 101 �1910-36240 Oaveloper Reim6ursements ip1�150036245 CantluitDebtApplicationFee 101 d1500-36246 Contluit Deb[ Fees 109�3100-36277 NEghtTimeConstructionWaiver 101d191036280 OtherMiscellaneousRevenue 1�1�3100-36270 MiscellaneousReimbursements IOi�1300-36270 MiScellaneouSReim6ursemen[ 1 01-41 500-3627Q MiscellaneousReim6ursement 101-41940-86270 MiscellaneousReim6ursement IOi-43100-36275 Pri�ateStreetLightReimbursements IOi-42100-36280 MiscellaneousReimBursemeni 109-42400-36280 Fire Inspection Reimbursement Tatal Miscellaneous Total Opereting Revenues dfherFinanclnq Sources i0S�2100-39101 Sales of General Fixed Assets lOt-45200-39203 Transfer ToWI Other Flnancing Sources Mayor & CounciE Eleclions AdministraUon Finance 8 Support Services Planning 8 Zoning Govemment Buildings Pu61ic Safery Emergency Management Protective Inspections SFreet Mafntenance Park Maintenance Recreation Celehrating A�tlen Hi11s ReserveslCon6ngency Transfers TofaE Operating Expenses Mayor 8 Gauncil E?eclians Adminislration �inance & Suppori 5ervices P[annin� & Zoning Go�emmenf Builtlings Public Safety Emergency Managament Protective Inspectians Street Maintanance Park Malntenance Recreation Celebretfng Arden Mills Transfere Total Capitaf Outlay Total General Fund Expenses 10,000 1,505 8,495 1,000 - 1,00(? 23,000 3,331 13,669 - 600 (606) 11,000 - 1i,000 5,441 5,44i 50,441 5,436 45,005 40,000 6,836 33,162 3,600 - 3,600 - A50 (450) 15,000 A,950 10,050 500 - 500 t0,0Q0 - 10,990 550 78 472 4,OD0 50 3,950 3,060 - 3,600 75,650 12,365 64,285 3,897,217 171,7a6 3,725,510 15% 0% 14% Q% flo� 14 °h 17°h 0% 33Na D°/a 0°/a 1 A°h 1% 0% T6% 4% 7 5171798 3725.510 4% $ 69,70fi 5 19,881 49,825 29°h 1,720 - 1,720 0% 338,82$ 69,413 263,A15 20% 139,745 34,378 i05,367 25% 27a,806 4fi,125 22A,681 17% 237,870 29,442 248.42$ 12% 1,362,223 A32,458 929,765 32°h 26,445 1,336 25,108 5% 259,302 56,AA2 202,860 22% 280,983 87,928 593,057 3'€% 4i2,B25 87,197 325,62B 21% 2i8,953 A0,563 176,390 19% 25,600 - 25,000 0°/a 20.211 - 20,21'[ 0°/a 252,600 252,600 . . _ 0% 3,917,217 905,160 3,012,457 23% - 13 {13) - '[63 (i63� - 176 {176} � 3,917,217 8905,336 3,091,881 23°/a