2010-06-09 CC Packet - Laserfiche WebLink

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Fund Balance Fund Balance: The City of Centerville began fiscal year 2010 with a General Fund balance of $1,231,325 and has since (1/1/10 through 5/31/10) incurred an excess of expenditures over revenues (net loss) of ($696,058 )—leaving the City with a total General Fund balance of $535,267 at the end of May. This is a normal fund balance decline given the City has yet to receive any Property Tax Revenue. Income Statement — General Fund Revenue Property Tax and State Grants: The City received no material revenue in this classification during the month of May. Overall, property tax generated revenue is at 0% of the year to date budget. The first tax settlement will be received in July. Interest Earnings: The City has received $9,947 in interest revenue or 33% of the year to date budget through the month of May. Administration: Administration revenue consists of mostly fees derived from the selling of liquor licenses. The City has received $23,358 in Administration revenue or 78% of the year to date budget through the month of May. Police Aid: The City received roughly $8,195 in Police associated revenue through the month of May or 12% of the year to date budget. Fire Aid: The City has not received any revenue in this classification through the month of May. 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 $22,539 in Building inspection revenue or 27% of the year to date budget. Overall, general fund revenues are coming in at roughly 3% of the year to date budget through May. Expenses General Government: General Government expenditures include Salaries / Benefits, Supplies and Purchased Services in conjunction with activities performed by the Mayor, four City Council Members and City Administration. General Government expenditures total roughly 203,571 or 37% of the year to date budget. Public Safety: The City of Centerville has a joint powers agreement with Circle Pines and Lexington that funds the Centennial Lakes Police Department. A similar arrangement with Lino Lakes and Circle Pines funds the Centennial Fire District. Public Safety expenditures totaled roughly $406,353 or 38% of the year to date budget through May. Public Works: The City of Centerville Public Works department has four full time employees that work to maintain the City parks, streets and utility operations. Public Works expenditures totaled roughly $151,394 or 27% of the year to date budget through May. Culture and Recreation: The Culture and Recreation budget consists of expenditures incurred by the City's committee, recreation programs, and the city festival. Culture and Recreation expenditures totaled roughly $4,250 or 22% of the year to date budget. Other: This classification consists of items associated with development, the city's recycling program and administrative transfers. Other expenditures totaled roughly $3,848 or 12% of the year to date budget. Overall, General Fund expenditures totaled roughly $769,415 through May or 35% of the year to date budget. Analysis Prepared By: Michael Jeziorski Finance Director