2010-07-14 CC Meeting Packet - Laserfiche WebLink

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paid back in 2010) is $19,687. Total long term debt outstanding (principal to be paid back 2011 through 2025) is $10,809,437. 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 6/30/10) incurred an excess of expenditures over revenues (net loss) of ($853,137) — leaving the City with a total General Fund balance of $378,188 at the end of June. 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 June. Overall, property tax generated revenue is at 0% of the year to date budget. The first tax settlement was received on July 6th. Interest Earnings: The City has received $11,019 in interest revenue or 37% of the year to date budget through the month of June. Administration: Administration revenue consists of mostly fees derived from the selling of liquor licenses. The City has received $24,154 in Administration revenue or 81 % of the year to date budget through the month of June. Police Aid: The City received roughly $9,385 in Police associated revenue through the month of June or 14% of the year to date budget. Fire Aid: The City has not received any revenue in this classification through the month of June. 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 $25,280 in Building inspection revenue or 30% of the year to date budget. Overall, general fund revenues are coming in at roughly 4% of the year to date budget through June. 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 251,342 or 46% 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 $476,206 or 45% of the year to date budget through June. 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 $183,865 or 33% of the year to date budget through June. 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 $4,264 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 $10,308 or 31 % of the year to date budget. Overall, General Fund expenditures totaled roughly $925,987 through June or 42% of the year to date budget. Analysis Prepared By: Michael Jeziorski Finance Director