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HomeMy WebLinkAbout5I, 1st Quarter 2012 Financial Reports It --A IPEN� HILLS Request for Council Action 51 Prepared By: Sue Iverson, Director of Finance ; Council Meeting Date: April 30,2012 and Administrative Services i 1st Quarter 2012 Financial Reports Budgeted Amount: Actual Amount: Funding Source: N/A N/A N/A Recommendation: I A motion to accept the 2012. ls`Quarter Financial Reports as presented. I i Supporting Documents: i 1. Memorandum from Sue Iverson and Kyle Howard dated April 30, 2012. 2. 1"Quarter 2012 Financial Reports. 'It EN HILLS MEMORANDUM DATE: April 30, 2012 TO: Honorable Mayor and City Council Patrick Klaers, City Administrator FROM: Sue Iverson, Director of Finance and Administrative Services Kyle Howard, Finance Analyst SUBJECT: 2012 1St Quarter Actuals Background/Discussion Attached are the 1St Quarter Actuals for 2012. Overall expenditures are running near budget estimates. Please remember that we receive 50% of our revenue from property taxes and will not receive the 2nd half until December. Governmental accounting is not done on an accrual basis, therefore the number reflect what was actually taken in as revenue or paid out as expenditures thru March 31, 2012. Accruals, deferred revenue adjustments, etc. are only done at year-end. Basically General Fund expenditures from operating activities are running at or slightly below the budget estimates, revenues are running close to budget estimates. (Please note that the overall percentages look lower because property taxes, liquor licenses, etc are collected at year-end.) An Investment Portfolio has also been included with these financial reports. Per the Investment Policy, our Benchmark Rate is the 4M plus Rate. At March 31, 2012 —this rate was 0.05% and our portfolio is averaging 1.997%. 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. As we are trying to stay diversified in this area and we will be transferring between these accounts. We have had some of our high interest notes call and we are working on cash flows with the PMP and other CIP projects, along with the new utility billing cycles to determine how much we can invest and for what time periods. 2.4% of our total funds are in the League of Minnesota Cities 4M Fund and 4M Plus accounts. Staff Recommendation Staff requests that Council accept the 1St Quarter 2012 Financial Reports. III �I City of Arden Hills City-Wide Budget Summary Revenues Adopted Actual Balance YTD FY 2012 3/31/2012 Available %of Budget Operating Revenue Mayor&Council $ - $ - Elections - - - - Administration 3,329,111 63,986 3,265,125 1.92% Finance&Administrative Services 68,860 31,337 37,523 45.51% TCAAP - - - - Planning&Zoning 58,900 108,507 (49,607) 184.22% Government Buildings 103,711 - 103,711 0.00% Police&Animal Control 94,306 6,157 88,149 6.53% Dispatch - - - Fire Protection - - - - Emergency Management - - - Protective Inspections 207,300 204,002 3,298 98.41% Street Maintenance 69,109 37,553 31,556 54.34% Park Maintenance 9,330 225 9,105 2.41% Recreation 88,500 35,723 52,777 40.37% Celebrating Arden Hills 15,000 2,600 12,400 17.33% Transfers Total General Fund 4,044,127 490,092 3,554,035 12.12% TCAAP - - - - Cable Fund 91,131 23,940 67,191 26.27% Community Services - - - - EDA General Fund 35,250 392 34,858 1.11% EDA TIF#3 Cottage Villas 40,500 639 39,861 1.58% EDA Revolving Fund 2,500 582 1,918 23.30% EDA TIF#4 Pres Homes - -- - EDA TIF#2 Round Lake 508.500 4,642 503,858 0.91% Total Special Revenue Funds 677,881 30,196 647,685 4.45% GO Tax Increment Bonds of 1998A Total Debt Service Funds - - - Equipment,Bldg&Replacement - - - Public Safety Capital 45,200 15,730 29,470 34.80% Parks Fund - - - Capitai Improvement Fund(PIR) 535,000 35 980 499,020 6.73% Total Capital Funds 580,200 51,711 528,489 8.91% Water 2,065,205 251,588 1,813,617 12.18% Sanitary Sewer 1,662,547 371,458 1,291,089 22.34% Recycling 150,572 (977) 151,549 -0.65% Surface Water Management 558,055 57,791 500,264 10.36% Total Enterprise Funds 4,436,379 679,860 3,756,519 15.32% Risk Management 397,117 1,523 395,594 0.38% Engineering 117,467 - 117,467 0.00% Central Garage 222,983 - 222,983 0.00% Technology 94,248 94,248 0.00% Total Internal Service 831,815 1,523 830,292 0.18% Total Operating Revenues 10,670,402 1,263,381 9,317,021 11.86% Other Financing Sources 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 - - - - TCAAP Cable Fund - - - Community Services - EDA General Fund 65,000 - 65,000 0.00% EDA TIF#3 Cottage Villas - - - - EDA Revolving Fund - - - - EDA TIF#4 Pres Homes - - - - EDA TIF#2 Round Lake Total Special Revenue Funds 65,000 - 65,000 0.00% i GO Tax Increment Bonds of 1998A 286.698 272,600 14,098 95.08% Total Debt Service Funds 286,698 272,600 14,098 95.08% Equipment,Bldg&Replacement 183,000 - 183,000 0.00% Public Safety Capital - - - Parks Fund - - Capital Improvement Fund(PIR) 200,000 - 200,000 0.00% Total Capital Funds 383,000 - 383,000 0.00% Water - - - Sanitary Sewer - - - - Recycling - - - - Surface Water Management Total Enterprise Funds - - - - Risk Management - - - - Engineering - - - Central Garage - - - Technology Total Internal Service - - - - Total Other Financing Sources 734,698 272,600 462,098 37.10% Prior Period Adjustment - - - - Total Revenues $11,305,100 $ 1,525,981 $ 9,779,119 13.50% City of Arden Hills City-Wide Budget Summary Expenditures Adapted Actual Balance YTD FY 2012 3131/2012 Available %of Bud et Operating Expenses Mayor&Council $ 74,511 $ 17,717 $ 56,794 23.78% Elections 18,068 3,889 14,179 21.53% Administration 342,236 65,474 276,762 19.13% Finance&Administrative Services 164,749 33,817 130,932 20.53% TCAAP 60,000 13,200 46,800 22.00% Planning&Zoning 249,441 39,082 210,359 15.67% Government Buildings 209,321 21,818 187,503 10.42% Police&Animal Control 978,955 448,964 529,991 45.86% Dispatch 49,219 12,305 36,915 25.00% Fire Protection 392,869 - 392,869 0.00% Emergency Management 15,533 682 14,651 4.39% Protective Inspections 270,753 59,770 210,983 22.08% Street Maintenance 304,556 64,598 239,958 21.21% Park Maintenance 425,239 77,326 347,913 18.18% Recreation 223,676 35,301 188,375 15.78% Celebrating Arden Hills 25,000 951 24,049 3.80% Reserves/Contingency - - - Transfers Total General Fund 3,804,126 894,895 2,909,231 23.52% TCAAP - Cable Fund 84,394 30,164 54,230 35.74% Community Services - - - EDA General Fund 64,397 12,503 51,894 19.42% EDA TIF#3 Cottage Villas 4,000 87 3,913 2.18% EDA Revolving Fund - - - EDA TIF#4 Pres Homes - 87 (87) - EDA TIF#2 Round Lake 1,300 87 1,213 6.67% Total Special Revenue Funds 154,092 42,928 111,164 27.86% 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 1,909,981 99,128 1,810,853 5.19% Sanitary Sewer 1,479,027 456,948 1,022,079 30.90% Recycling 142,554 5,103 137,451 158% Surface Water Management 408,599 65,835 342,764 16.11% Total Enterprise Funds 3,940,161 627,013 3,313,148 15.91% Risk Management 420,427 995 419,432 0.24% Engineering 117,467 6,083 111,404 5.16% Central Garage 222,983 44,315 178,668 19.87% Technology 94,248 10,082 84,166 10.70% Total Internal Service 855,125 61,455 793,670 7.19% Total Operating Expenses 8,753,504 1,626,291 7,127,213 18.68% Capital Outlav Mayor&Council - - - - Elections - - - Administration - 212 (212) 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 - 212 (212) - TCAAP - Cable Fund 35,000 1,356 33,644 3.87% Community Services - - - EDA General Fund 65,000 - 65,000 0.00% EDA TIF#3 Cottage Villas - - - - EDA Revolving Fund - - - EDA TIF#4 Pres Homes - - - - EDA TIF#2 Round Lake Total Special Revenue Funds 100,000 1,358 98,644 1.36% GO Tax Increment Bands of 1998A Total Debt Service Funds - - - Equipment,Bldg&Replacement 388,000 (16) 388,016 0.00% Public Safety Capital 192,211 13,165 179,046 6.85% Parks Fund 5,000 - 5,000 0.00% Capital Improvement Fund(PIR) 980,500 13,199 967,301 1.35% Total Capital Funds 1,565,711 28,348 1,539,363 1.68% Water 302,000 - 302,000 0.00% Sanitary Sewer 27,000 - 27,000 0.00% Recycling - - - - Surface Water Management 452,500 452,500 0.00% Total Enterprise Funds 781,500 - 781,500 0.00% Risk Management - - - - Engineering - 728 (728) - Central Garage - 888 (888) - Technology Total Internal Service - 1,616 (1,616) - Total Capital Outlay 2,447,211 29,533 2,417,678 1.21% Debt Service GO Tax Increment Bonds of 1998A 286,698 272,600 14,098 95.08% Total Debt Service 286,698 272,600 14,098 95.08% Other Financino Uses 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 240,000 240,000 0.00% Total General Fund 240,000 240,000 0.00% TCAAP - Cable Fund - - - Community Services - - - EDA General Fund - - - - EDA TIF#3 Cottage Villas - - - - EDA Revolving Fund - - - - EDA TIF#4 Pres Homes - - - - EDA TIF#2 Round Lake 288,698 272,600 14,098 95.08% Total Special Revenue Funds 286,698 272,600 14,098 95.08% GO Tax Increment Bonds of 1998A Total Debt Service Funds - - - Equipment,Bldg&Replacement - - - - Public Safety Capital - - - - Parks Fund - - - Capital Improvement Fund(PIR) 65,000 85,000 0.00% Total Capital Funds 65,000 - 65,000 0.00% Water 43,000 - 43,000 0.00% Sanitary Sewer 62,000 - 62,000 0.00% Recycling - - - Surface Water Management 38,000 38,000 0.00% Total Enterprise Funds 143,000 - 143,000 0.00% Risk Management - - - Engineering - - Central Garage - - - Technology - Total Internal Service - - - - Total Other Financing Uses 734,698 272,600 462,098 37.10% Total Expenditures $12,222,111 $ 2,201,023 $10,021,087 18.01% City of Arden Hills General Fund Summary 2012 Budget Adopted Actual Balance YTD Activity FY 2012 31312012 Available %of Budget Taxes -- 101-41300-31010 Current Ad Valorem Taxes $3,096,994 $ - $3,096,994 0.00% 101-41300-31011 Payments in Lieu of Taxes - - - - 101-41300-31020 Delinquent Ad Valorem Taxes 21,461 - 21,461 0.00% 101-41300-31030 Mobile Home Tax 7,500 - 7,500 0.00% 10141300-31040 Fiscal Disparities - - - - 101-41300-31510 Aggregate Removal Tax - - - - 101-41300-31910 Penalties&Interest on Taxes 600 501 99 83.56% 101-41300-31920 Forfeited Tax Sales Total Taxes 3,126,555 501 3,126,054 0.02% licenses and Permits 101-41300-32110 Liquor,On Sale&Sunday 25,000 14,940 10,060 59.76% 101-41300-32111 Liquor,Off Sale - 9,320 (9,320) - 101-41300-32150 Inspection Fees - 2,850 (2,850) - 101-41300-32160 Contractors 5,500 2,150 3,350 39.09% 10141910-32170 Rental Regulation Fee 2,600 160 2,440 6.15% 101-41300-32180 Business Licenses 13,000 10,504 2,496 80.80% 101-41300-32181 Other Business Lic/Permits 4,000 100 3,900 2.50% 101-41300-32182 Tabasco License - So (50) - 101-42400-32210 Plan Review&Bldg Permits 133,000 161,795 (28,795) 121.65% 101-42400-32220 Mechanical Permits 26,000 5,378 20,622 20.68% 10142400-32230 Plumbing Permits 10,000 1,601 8,199 18.01% 101-41300-32240 Animal Licenses 2,000 1,751 249 87.55% 101-41910-32250 Sign Permits 850 50 800 5.88% 101-41300-32250 Sign Permit Renewal 2,000 1,500 500 75.00% 101-42400-32260 Electrical Permits 20,000 22,643 (2,643) 113.22% 101-42400-32270 Utility Permit Fees 300 1,400 (1,100) 466.67% 10142400-32275 Fire Suppression Permits 6,000 2,968 3,032 49.47% 10142400-32278 Fire Permit Plan Check Fee 3,000 1,929 1,071 64.30% 10141910-32279 Erosion/Grading Permit 1,600 150 1,450 9.38% 10141300-32280 Other Nonbusmess Lic/Permits 2,000 200 1,800 10.00% Total Licenses and Permits 256,850 241,639 15,211 94.08% Intergovernmental Revenues 101-41300-33402 Market Value Homestead Credit - - - - 101-41300-33403 Mobile Home Homestead Credit - - - - 10141300-33420 State PERA Aid 5,179 - 5,179 0.00% 10141500-33421 Local Preformance Aid 0 1337 (1,337) - 101-42100-33416 Police Aid 41,844 - 41,844 0.00% 101-43100-33418 MSA Maintenance 68,559 37,514 31,045 54.72% 10141910-33422 State Grants - - - - 10141410-33621 Other County Grants&Aids - Other Intergovernmental 115,582 38,851 76,731 33.61% Charges for Services 10141910-34103 Zoning and Subdivision Fees - - - - 1 01-41 91 0-341 04 Plan Checking Fees 42,000 103,847 (61,847) 247.26% 1 01-41300_34105 Sale of Maps and Publications - 29 (29) - 101-41910-34108 Plat&Other Fees 11,000 3,600 7,400 32.73% 101-41300-34108 Admin Chgs from other funds 24,762 - 24,762 0.00% 101-41 500-341 0 8 Admin Chgs from other funds 54,338 - 54,338 0.00% 1 01-41 940-341 08 Admin Chgs from other funds 103,711 - 103,711 0.00% 101-41910.34110 Zoning Permit Fees 850 700 150 82.35% 10141500-34250 Business Subsidiary App Fee 2,000 - 2,000 0.00% 101-41300-34120 Water Tower Antenna Rentals 75,655 12,032 63,624 15.90% 101-41300-34121 Other General Govt Charges 3,400 3,190 210 93.82% 101-42100-34202 False Alarms 1,000 150 850 15.00% 101-42100-34206 Impound Fees - - - 10142400-34207 State Building Code Surcharges 8,000 5,946 2,054 74.32% 10142400-3420 a City Building Code Surcharges 1,000 143 857 14.25% 101-41940-34101 City Hell Rental - - - - 101-45200-34300 Park Facility Rental Fees 3,500 225 3,275 6.43% 101-45200-34301 Youth Program Field Use 4,230 - 4,230 0.00% 101-45200-34302 Adult Program Field Use 1,600 - 1,600 0.00% 10145120-34730 Summer Playground Fees 12,000 5,628 6,372 4690% 101-45120-34740 Summer Trip Fees - - - - 10145120-34781 Adult Programs 23,000 19,903 3,097 86.53% 101-45120-34782 Youth Programs 39,000 8,128 30,873 20.84% 10145120-34785 Adult Softball - - - - 101-45120-34790 After School Programs 11,000 1,548 9,452 14.07% 10145120-34791 Special Events Programs 3,500 517 2,983 14.77% 10141910-34950 Other Charges for Services Total Charges for Services 425,546 165,584 259,962 38.91% i Adopted Actual Balance YTD Activity FY 2012 3/312012 Available %of Budget Fines&Forfeits 10142100-35110 Highway Patrol Fines 4,000 83 3,917 2.08% 101-42100-35130 DWI Forfeitures 1,000 554 447 55.35% 101-42100-35140 Violations Bureau 23,000 5,371 17,629 23.35% 10142100-35150 Tobacco Fines - - - - 10142100-35160 Administrative Fines 12,000 - 12,000 0.00% 10142100-35200 Forfeits 5,462 5,462 0.00% Total Fines&Forfeits 45,462 6,007 39,455 1321% Special Assessments 210 - 210 0.00% 1 01 41 300-361 00 Special Assessments - - - - 10141300-36101 Delinquent Sp Assessments - - - - 10141300-36102 Penalties and Int So Assessments - - - - 1 01 41 300-361 0 3 Prepaid and Assessments Total Special Assessments 210 - 210 0.00% Miscellaneous 10141300-36210 Interest Income 35,000 4,265 30,735 12.19% 10141300-36230 Contributions/Donations 3,600 - 3,600 0.00% 10141940-36230 Contributions/Donations - - - - 10145120-36230 Contributions/Donationa - - - 10145400-36230 Contributions/DonaOons 15,000 2,600 12,400 17.33% 10145200-36230 Contributions/Donations - - - - 10141600-36230 Contributions/Donations - - - - 10141300-36215 Candidate Filing Fee - - - - 10141910-36240 Developer Reimbursements - - - 1 0141 500-36245 Conduit Debt Application Fee - - - - 10141500-36246 Conduit Debt Fees 9,522 30,000 (20,478) 315.06% 10143100-36277 Night Time Construction Waiver - - - - 1 01 4191 0-36280 Other Miscellaneous Revenue - - - - 10143100-36270 Miscellaneous Reimbursements 550 39 511 7.09% 10141300-36270 Miscellaneous Reimbursement 1,250 604 646 48.36% 10141500-36270 Miscellaneous Reimbursement 3,000 - 3,000 0.00% 10141940-36270 Miscellaneous Reimbursement - - - - 10143100-36275 Private Street Light Reimbursements - - - 10142100-36280 Miscellaneous Reimbursement 6,000 - 6,000 0.00% 10142400-36280 Fire Inspection Reimbursement Total Miscellaneous 73,922 37,509 36,413 50.74% Total Operating Revenues 4,044,126 490,092 3,554,034 12.12% Other Financing Sources 10142100-39101 Sales of General Fixed Assets - - - - 10145200-39203 Transfer Total Other Financing Sources - - - - Total General Fund Revenue $4,044,126 $490 092 3.554,034 12.12% Operating Expenses Mayor&Council $ 74,511 $ 17,717 56,794 23.78% Elections 18,068 3,889 14,179 21.53% Administration 342,236 65,474 276,762 19.13% Finance&Administrative Services 164,749 33,817 130,932 20.53% TCAAP 60,000 13,200 46,800 22.00% Planning&Zoning 249,441 39,082 210,359 15.87% Government Buildings 209,321 21,818 187,503 10.42% Police&Animal Control 978,955 448,964 529,991 45.86% Dispatch 49,219 12,305 36,915 25.00% Fire Protection 392,869 - 392,869 0.00% Emergency Management 15,533 682 14,851 4.39% Protective Inspections 270,753 59,770 210,983 22.08% Street Maintenance 304,556 64,598 239,958 21.21% Park Maintenance 425,239 77,326 347,913 18.18% Recreation 223,876 35,301 188,375 15.78% Celebrating Arden Hills 25,000 951 24,049 3.80% Reserves/Contingency - - - - Transfers 240,000 240,000 0.00% Total Operating Expenses 4,044,126 894,895 3,149,231 22.13% Capital Outlav Mayor&Council - - - - Elections - - - - Administration - 212 (212) - 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 - 212 (212) - Total General Fund Expenses $4,044,126 $895,107 3,149,019 22.13% Revenue Over/(Under)Expenses (0) (405.016) 405,015 IIII NOVA 8i Iq SSW N. .. �!.V..;; A wwr= s RM O Na 6�i i og g,� 6 i O b NA . . . . . . 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