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Home My WebLink About5F, Motion to Approve 2nd Quarter of 2012 Financial Reports� �R�EN�HILLS Request for Council Action Prepared By: Sue Iverson, Director of Finance and Administrative Services Council Meeting Date: July 30, 2012 2"a Quarter 2012 Financial Reports Budgeted Amount: Actual Amount: Funding Source: N/A N/A N/A Recommendation: A motion to accept the 2012 2"d Quarter Financial Reports as presented. Supporting Documents: 1. Memorandum from Sue Iverson dated Ju1y 30, 2012. 2 2na Quarter 2012 Financial Reports. a. Attachment A— City-Wide Summary b. Attachment B— General Fund Summary c. Attachment C— Investment Portfolio � �fi` I��ENr�HILL5 MEMORANDUM DATE: July 30, 2012 TO: FROM: SUBJECT: Honorable Mayor and City Council Patrick Klaers, City Administrator Sue Iverson, Director of Finance and Administrative Services 2012 2°d Quarter Actuals � ,Y Background/Discussion: Attached are the 2°d Quarter Actuals for 2012. Overall expenditures are running slightly below budget estimates. Revenue estimates are running above budget estimates as a result of increased building permit activity, some additional conduit debt received from Presbyterian Homes, and increased participation in recreation programs. Please remember that we receive 50% of our revenue from property taxes and did not received the lst half until July. Governmental accounting is not done on an accrual basis, therefore the numbers reflect what was actually taken in as revenue or paid out as expenditures thru June 30, 2012. Accruals, deferred revenue adjustments, etc. are only done at year-end. Basically expenditures from operating activities are running close to the budget estimates or slightly below, revenues are slightly above budget estimates. (Please note that the overall percentages look lower because property taxes, liquor licenses, etc are collected at year-end.) New this year are the internal service funds. These funds are charged back to the operating departments. We have included estimated charges through June 30�` in these reports. These costs may seem to appear double counted when you look at the organization in total, as they appear in the internal service funds and then again as charges in the departments which used them — governmental accounting determines how we show this in our fund financial statements, but adjustments are made at audit time to show only the actual expenditures as any surplus or deficits in the internal service funds are rolled into the government-wide statements so actual expenditures and revenues are shown. They are meant to operate like the enterprise funds (our utility funds) but service our "internal" customers, which are our departments. They make it easier to manage budgets as we can see the "total" spent or received for these activities like Public Works, Insurance, Engineering, and Technology. An Investment Portfolio has also been included with these financial reports. Per the Investment Policy, our Benchmark Rate is the 4M plus Rate. At June 30, 2012 — this rate was 0.05% and our portfolio is averaging 1.974%. All of our investments are in government secured or government backed deposits. The section listed at the top of the portfolio are the "liquid" investments that we can access at anytime. (The large amount in the Evergreen US Govt Money Market Fund is a reflection of securities what were called in late June and have been reinvested, but settlement dates were not until July.) We are trying to Memo City Council Quarterly Financial Reports 2 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 to determine how much I can invest and for what time periods. I have also researched other liquid investment options that will possibly give us a better return, but I are still determining our immediate cash flow needs as we have switch from monthly utility billing to quarterly billings which has changed our short-term cash flows. Staff Recommendation: Staff requests that Council accept the 2°a Quarter Financial Reports. Attachment City-Wide Summary 2nd Quarter Financials � EN HILLS City of Arden Hills City Council Meeting for July 30, 2012 Oaeratins� Revenue Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hills Total General Fund Cable Fund EDA General Fund EDA Revolving Fund EDA TIF #2 Round Lake EDA TIF #3 Cottage Villas EDA TIF #4 Pres Homes Total Special Revenue Funds GO Tax Increment Bonds of 1998A Total Debt Service Funds Equipment, Bldg & Replacement Public Safety Capital Parks Fund Capital Improvement Fund (PIR) Total Capital Funds Sanitary Sewer Recycling Surface Water Management Total Enterprise Funds Risk Management Engineering Central Garage Technology Total Internal Service Total Operatinq Revenues City of Arden Hills City-Wide Budget Summary Revenues FY 2012 Actual Balance '30/2012 Available $ - $ 3,329,111 68,860 58,900 103,711 94,306 207,300 69,109 9,330 88, 500 15,000 4,044,127 91,131 35,250 2, 500 508,500 40,500 677,881 45,200 535,000 580, 200 2,065,205 1,662, 547 150, 572 4,436,379 397,117 117,467 222,983 94,248 831,815 1 1,292,230 36,146 65,394 9,946 176,085 37,592 6,680 81,718 7,730 1,713,522 26,294 1,198 1,950 13,094 2,140 44,676 19 29,996 83,189 113,185 501,682 517,786 27,492 146,899 1,193,859 241,379 30,267 72,584 41,710 385,940 2,036,881 32,714 (6,494) 103,711 84,360 31,215 31,517 2,650 6,782 7,270 2,330,605 64,837 34,052 550 495,406 38, 360 633,205 (19) 15,204 451,811 467,015 1,563,523 1,144,761 123,080 411,156 3,242,520 155,738 87,200 150,399 445,875 7,119,201 38.82% 52.49% 111.02% 0.00% 10.55% 84.94% 54.40% 71.60% 92.34% 51.53% 42.37% 28.85% 3.40% 6.59% 66.36% 15.55% 19.51 % 24.29% 31.14% 18.26% 26.91 % 60.78% 25.77% 32.55% 44.26% 46.40% 32.65°/a Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hills 'Transfers Total General Fund Cable Fund EDA General Fund EDA Revolving Fund EDA TIF #2 Round Lake EDA TIF #3 Cottage Villas EDA TIF #4 Pres Homes Total Special Revenue Funds GO Tax Increment Bonds of 1998A Total Debt Service Funds Equipment, Bldg & Replacement Public Safety Capital Parks Fund Capital Improvement Fund (PIR) Total Capital Funds 65,000 65,000 286,698 183,000 200,000 383,000 734,698 65,000 0.00% 65,000 0.00% 14,098 95.08% 14,098 95.08% 160,516 12.29% 100,000 50.00% 260,516 31.98% 339,614 53.78% Sanitary Sewer Recycling Surface Water Management Total Enterprise Funds Risk Management Engineering Central Garage Technology Total Internal Service Total Other Financing Sources Prior Period Adjustment Total Revenues 272,600 22,484 100,000 122,484 395,084 $ 11,305,100 $ 3,846,285 $ 7,458,815 34.02% City of Arden Hills City-Wide Budget Summary Expenditures Operatina Exqenses Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hills Reserves/Contingency Transfers Total General Fund Cable Fund EDA General Fund EDA Revolving Fund EDA TIF #2 Round Lake EDA TIF #3 Cottage Villas EDA TIF #4 Pres Homes Total Special Revenue Funds GO Tax Increment Bonds of 1998A Total Debt Service Funds Equipment, Bidg & Replacement Public Safety Capital Parks Fund Capital Improvement Fund (PIR) Total Capital Funds Water Sanitary Sewer Recycling Surface Water Management Total Enterprise Funds Risk Management Engineering Central Garage Total Internal Service FY 2012 6/30/2012 $ 74,511 $ 18,068 342,236 164,749 60,000 249,441 209,321 978,955 49,219 392,869 15,533 270,753 304,556 425,239 223,676 25,000 3,804,126 84,394 64,397 1,300 4,000 154,092 37,116 $ 7,764 158,144 72, 318 13,486 79,885 50,229 489,768 20,508 196,434 1,964 122,136 129,481 197,098 96,264 2, 507 1,675,102 42,191 23,748 87 183 87 66,295 1,909,981 1,479,027 142,554 3,940,161 420,427 117,467 222,983 855,125 434,960 797,286 36,522 190, 847 1,459,615 234,749 29,605 71,682 46,728 382,764 3.583.776 Balance Y Available % of 37, 395 10,304 184,092 92,431 46, 515 169, 556 159,092 489,187 28,711 196,434 13,569 148,617 175,075 228,141 127,412 22,493 2,129,024 42,203 40,650 1,213 3,817 87,797 1,475,021 681,741 106,032 2,480,546 185,678 87,862 151,301 47,520 472,361 5.169.728 49.81 % 42.97% 46.21 % 43.90% 22.48% 32.03% 24.00% 50.03% 41.67% 50.00% 12.64% 45.11 % 42.51 % 46.35% 43.04% 10.03% 44.03% 49.99% 36.88% 6.67% 4.58% 43.02% 22.77% 53.91 % 25.62% 46.71 % 37.04% 55.84% 25.20% 32.15% 44.76% Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hilis Total General Fund Cable Fund IEDA General Fund �EDA Revolving Fund EDA TIF #2 Round Lake EDA TIF #3 Cottage Villas EDA TIF #4 Pres Homes Total Special Revenue Funds GO Tax Increment Bonds of 1998A Total Debt Service Funds Equipment, Bldg & Replacement Public Safety Capital Parks Fund Capital Improvement Fund (PIR) Total Capital Funds Water Sanitary Sewer Recycling Surface Water Management Total Enterprisefunds Risk Management Engineering Central Garage Technology Total Internal Service Total Capital Outlay Debt Service GO Tax Increment Bonds of 1998A Total Debt Service 35,000 65,000 100,000 388,000 192,211 5,000 980,500 1,565,711 302,000 27,000 452,500 781,500 2,447,211 11,113 11,113 23,887 65,000 88,887 31.75% 0.00% 11.11% 60,725 327,275 15.65% 160,651 31,560 83.58% 10,353 (5,353) 207.05% 328,725 275,904 275,904 7,317 888 1,607 9,812 625,554 1,236,986 26,096 27,000 452,500 505,596 (7,317) (888) 21.00% 91.36% 0.00% 0.00% 35.30% (9,812) -, 1,821,657 25.56% 286,698 272,600 14,098 95.08% 286,698 272,600 14,098 95.08% Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Public Safety Emergency Management Police & Animal Control Dispatch Fire Protection Street Maintenance Park Maintenance Recreation Celebrating Arden Hills Transfers Total General Fund Cable Fund EDA General Fund EDA Revolving Fund EDA TIF #2 Round Lake EDA TIF #3 Cottage Villas EDA TIF #4 Pres Homes Total Special Revenue Funds GO Tax Increment Bonds of 1998A Total Debt Service Funds Equipment, Bldg & Replacement Public Safety Capital Parks Fund Capital Improvement Fund (PIR) Total Capital Funds Sanitary Sewer Recycling Surface Water Management Total Enterprise Funds Risk Management Engineering Central Garage Technology Total Internal Service Total Other Financing Uses 240,000 240,000 286,698 286,698 65,000 43,000 62,000 38,000 143,000 734,698 120,000 272,600 272,600 392,600 120,000 120,000 14,098 14,098 65,000 43, 000 62,000 143,000 342,098 50.00% 50.00% 95.08% 95.08% 0.00% 0.00% 0.00% 0.00% 53.44% Total Expenditures $ 12,222,111 $ 4,874,530 $ 7,347,581 39.88% Attachment General Fund Summary 2nd Quarter Financials � EN HILLS City ofArden Hills City Council Meeting for June 30, 2012 City of Arden Hills General Fund Summary Revenues 101-41300-31010 101-41300-31011 101-41300-31020 101-41300-31030 101-41300-31040 101-41300-31510 101-41300-31910 101-41300-31920 101-41300-32110 101-41300-32111 101-41300-32150 101-41300-32160 101-41910-32170 101-41300-32180 101-41300-32181 101-41300-32182 101-42400-32210 101-42400-32220 101-42400-32230 101-41300-32240 101-41910-32250 101-41300-32250 101-42400-32260 101-42400-32270 101-42400-32275 101-42400-32278 101-41910-32279 101-41300-32280 101-41300-33402 101-41300-33403 101-41300-33420 101-41500-33421 101-42100-33416 101-43100-33418 101-41910-33422 101-41410-33621 Current Ad Valorem Taxes Payments in Lieu of Taxes Delinquent Ad Valorem Taxes Mobile Home Tax Fiscal Disparities Aggregate Removal Tax Penalties & Interest on Taxes Forfeited Tax Sales Total Taxes Licenses and Permits Liquor, On Sale & Sunday Liquor, Off Sale Inspection Fees Contractors Rental Regulation Fee Business Licenses Other Business Lic/Permits Tabacco License Plan Review & Bldg Permits Mechanical Permits Plumbing Permits Animal Licenses Sign Permits Sign Permit Renewal Electrical Permits Utility Permit Fees Fire Suppression Permits Fire Permit Plan Check Fee Erosion/Grading Permit Other Nonbusiness Lic/Permits Total Licenses and Permits Interqovernmental Revenues Market Value Homestead Credit Mobile Home Homestead Credit State PERA Aid Local Preformance Aid Police Aid MSA Maintenance State Grants Other County Grants & Aids Other I Adopted Actual Balance YTD FY 2012 6/30/2012 Available °/a of Bu� $ 3,096,994 $ 1,196,000 $ 1,900,994 21,461 - 21,461 7,500 - 7,500 600 - 600 1337 37,514 3,126,555 1,196,000 1,930,555 38.25% 25,000 5, 500 2,600 13, 000 4, 000 133,000 26,000 10,000 2,000 850 2,000 20,000 300 6, 000 3, 000 1,600 2.000 14,940 9, 320 3,600 4,050 2,400 10,805 100 50 100, 802 22, 319 4, 996 2, 034 450 1, 500 30, 006 2,100 4,863 3, 037 300 500 10,060 (9,320) (3,600) 1,450 200 2,196 3, 900 (50) 32,198 3,681 5, 004 (34) 400 500 (10,006) (1, 800) 1,137 (37) 1, 300 1, 500 59.76% 73.64% 92.31 % 83.11°/a 2.50°/a 5,179 (1,337) 41,844 31,045 256,850 218,171 38,679 84.94% 5,179 0 41,844 68, 559 115, 582 38.62°/a 0.00°/a 0.00% 0.00% 75.79% 85.84% 49.96% 101.68% 52.94% 75.00% 150.03% 700.00% 81.05% 101.24% 18.75% 25.00% 0.00% 54.72% 851 76.731 33.61 % 1 01-41 91 0-341 03 101-41910-34104 101-41300-34105 101-41910-34106 101-41300-34108 101-41500-34108 101-41940-34108 101-41910-34110 101-41500-34250 101-41300-34120 101-41300-34121 101-42400-34122 101-42100-34202 1 01-421 00-34206 101-42400-34207 101-42400-34208 101-41940-34101 101-45200-34300 101-45200-34301 101-45200-34302 101-45120-34730 101-45120-34740 101-45120-34781 101-45120-34782 '101-45120-34785 101-45120-34790 I101-45120-34791 '101-41910-34950 101-42100-35110 101-42100-35130 101-42100-35140 101-42100-35150 101-42100-35160 101-42100-35200 101-41300-36100 101-41300-36101 101-41300-36102 101-41300-36103 Charqes for Services Zoning and Subdivision Fees Plan Checking Fees Sale of Maps and Publications Plat & Other Fees Admin Chgs from other funds Admin Chgs from other funds Admin Chgs from other funds Zoning Permit Fees Business Subsidiary App Fee Water Tower Antenna Rentals Other General Govt Charges Admin Charges-Staff Time False Alarms Impound Fees State Building Code Surcharges City Building Code Surcharges City Hall Rental Park Facility Rental Fees Youth Program Field Use Adult Program Field Use Summer Playground Fees Summer Trip Fees Adult Programs Youth Programs Adult Softball After School Programs Special Events Programs Other Charges for Services Total Charges for Services Fines & Forfeits Highway Patrol Fines DWI Forfeitures Violations Bureau Tobacco Fines Administrative Fines Forfeits Total Fines & Forfeits Special Assessments Special Assessments Delinquent Sp Assessments Penalties and Int Sp Assessments PrePaid Special Assessments Total Special Assessments 42, 000 11,000 24, 762 54, 338 103, 711 850 2, 000 75,655 3,400 1,000 8,000 1,000 4,230 3, 500 1,600 12, 000 23, 000 39, 000 11,000 3, 500 56,514 29 4, 500 1,180 24, 063 3,468 300 350 7,225 438 2,220 3, 360 13, 325 26, 061 33,193 7, 758 732 50 (14,514) �29) 6, 500 24, 762 54,338 103,711 (330) 2,000 51,592 (68) (300) 650 775 562 4, 230 1, 280 (1,760) (1,325) (3,061) 5,807 3,242 2,768 425,546 184,765 240,781 4,000 1,517 2,483 1,000 554 447 23,000 7,526 15,474 12,000 - 12,000 5,462 - 5,462 45,462 9,596 35,866 210 - 210 - 210 210 134.56% 40.91 % 0.00% 0.00% 0.00% 138.82% 0.00% 31.81 % 102.01 % 35.00%I 90.31 43.75 0.00% 63.44% 210:00% 111.04% 113.31% 85.11% 70.53% 20.91 % 43.42% 37.92°/a 55.35% 32.72% 0.00% 0.00% 21.11% 0.00% 0.00% 101-41300-36210 101-41300-36230 101-41940-36230 101-45120-36230 101-45400-36230 101-45200-36230 101-41600-36230 101-41300-36215 101-41910-36240 101-41500-36245 101-41500-36246 101-43100-36277 101-41910-36280 101-43100-36270 101-41300-36270 101-41500-36270 101-41940-36270 101-43100-36275 101-42100-36280 101-42400-36280 101-42100-39101 101-45200-39203 Miscellaneous Interest Income Contributions/Donations Contributions/Donations Contributions/Donations Contributions/Donations Contributions/Donations Contributions/Donations Candidate Filing Fee Developer Reimbursements Conduit Debt Application Fee Conduit Debt Fees Night Time Construction Waiver Other Miscellaneous Revenue Miscellaneous Reimbursements Miscellaneous Reimbursement Miscellaneous Reimbursement Miscellaneous Reimbursement Private Street Light Reimbursements Miscellaneous Reimbursement Fire Inspection Reimbursement Total Miscellaneous Total Operating Revenues Other Financinu Sources Sales of General Fixed Assets Transfer Total Other Financing Sources Total General Fund Revenue 35, 000 3,600 15,000 9, 522 550 1,250 3, 000 6, 000 73, 922 4,044,126 126 $ 1,71 21,017 150 650 7, 730 1,100 34, 809 78 604 66,139 1,713,522 13,983 60.05% 3,450 4.17% (650) - 7,270 51.53°/a (1,100) - (25,287) 365.57% 472 14.18% 646 48.32% 3,000 0.00% 6,000 0.00% 7,783 89.47% 2,330,604 42.37% 2,330,604 42.37% City of Arden Hills General Fund Summary Expenditures Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hills Reserves/Contingency Transfers Total Operating Expenses Mayor & Council Elections Administration Finance & Administrative Services TCAAP Planning & Zoning Government Buildings Police & Animal Control Dispatch Fire Protection Emergency Management Protective Inspections Street Maintenance Park Maintenance Recreation Celebrating Arden Hills Transfers Total Capital Outlay Total General Fund Expenses Revenue Over/(Under) Expense FY 2012 $ 74,511 $ 18, 068 342, 236 164, 749 60,000 249,441 209, 321 978,955 49,219 392,869 15, 533 270, 753 304, 556 425, 239 223,676 25, 000 240, 000 4,044,126 Actual 6/30/2012 37,116 7,764 158,144 72, 318 13,486 79, 885 50,229 489, 768 20, 508 196,434 1, 964 122,136 129,481 197,098 96,264 2,507 120,000 1, 795,102 Balance YTD Available % of Budgel 37,395 49.81°/a 10,304 42.97% 184; 092 46.21 % 92,431 43.90% 46,515 22.48% 169,556 32.03% 159,092 24.00% 489,187 50.03% 28,711 41.67% 196,434 50.00% 13,569 12.64% 148,617 45.11 % 175,075 42.51 % 228,141 46.35% 127,412 43.04% 22,493 10.03% 120,000 50.00% 2,249,024 44.39°/a $ 4,044,126 $ 1,795,102 2,249,024 44.39% (O1 (81.5801 81.580 Attachment Investment Portfolio 2na Quarter Financials �. EN HILLS City ofArden Hills City Council Meeting for July 30, 2012 Ciry of Arden Hills Investment Portfolio Analysis June 30, 2012 Annual"¢ed Rate of Relum w/o Money Market 2277% 2011 Int Rec'tl 2012 $69,14525 2012 IM nM Rec'tl $0.00 . Benchmark - 4M Plus Rate 0.050% Total 2012 IM Inwme $102,526.93