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<br />Long Term Debt: The City of Centerville has four outstanding bond issues-2004, 2006, <br />2007, and Police Station (held by Circle Pines). Total outstanding debt in relation to these bonds <br />is roughly $7,500,000 at the end of June. <br /> <br />Fund Balance <br />Fund Balance: The City of Centerville began fiscal year 2009 with a General Fund <br />balance of $1,157,515 and has since (1/1/09 through 6/30/09) incurred an excess of expenditures <br />over revenues (net loss) of ($974,429)-leaving the City of Centerville with a totai General Fund <br />balance of $183,086 at the end of June. Please note that this is a normal fund balance decline <br />due to the fact that tax revenue is not paid until July, while expenses are rather evenly distributed <br />through the year. <br /> <br />Income Statement - General Fund <br /> <br />Revenue <br />Property Tax and State Grants: There was no activity in this classification during the <br />month of June. Overall, property tax and state grant generated revenue is coming in at 1 % of the <br />year to date budget through the end of June. It should be noted that the first tax settlement <br />arrived in the City's bank account in July and totaled roughly $1,111,000 across all funds. <br />Administration: Administration revenue consists of mostly fees derived from the selling <br />of liquor licenses. The City has received $5,246 in Administration revenue or 14% of the year to <br />date budget, which is below projections. <br />Building Inspection: Building inspection revenues are comprised of the various permits <br />associated with building projects-plumbing, building, mechanical, and etc. The City has <br />received roughly 43,177 in Building inspection revenue or 33% of the year to date budget, which <br />is below projections. <br />Overall, general fund revenue is running below budgeted amounts coming in at roughly <br />4% of the year to date budget through June. Again, this is mainly because the first tax settlement <br />was received in July and not yet reflected. <br /> <br />Expenses <br />Salaries and Wages: Salaries and Wages expense totaled $217,509 through the month <br />of June. Overall, the City of Centerville's salaries and wages line items are running a little below <br />budgeted amounts coming in at roughly 43% of the year to date budget through June. <br />Benefits: Benefits expense totaled roughly $69,899 through the month of June. Overall, <br />the City of Centerville's benefits are running a little beiow budgeted amounts for the fiscal year, <br />coming in at roughly 41 % of the year to date budget through the month of June. <br />Supplies and Materials: Supply and materiais totaled roughly $11,351. Overall, the <br />City of Centerville's suppiy line items are coming in at roughly 31 % of the year to date budget <br />through the month of June. <br />Fees for Service: Fees for service expenses totaled $779,214 through the month of <br />June. Overall, purchased services are running in line with budgeted amounts for the fiscal year, <br />coming in at roughiy 41 % of the YTD budget through the month of June. <br />Overall, General Fund expenses totaled $1,077,973 through June or 41% of the year to <br />date budget. <br /> <br />Analysis Prepared By: <br /> <br />Michael Jeziorski <br />Finance Director <br />City of Centerville <br />mieziorski@centervillemn.com <br />