2009-07-15 Financial Reports - Laserfiche WebLink

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