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City of Centerville
January 2011 Financial Statement Analysis
The summary below was derived from observations related to the City of Centerville's monthly
financia/ statements, which shou/d be read in conjunction with the analysis below. The City of
Centervi!!e utilizes a fund accounting system consisting of a General Fund, Debt Service Funds,
Other Governmenta/ Funds and Enterprise Funds.
Balance Sheet
Assets
Cash and Cash Equivalents: The City of Centerville ended the month of January with
$5,449,080 in reconciled bank balances. A summary of the City's cash account holdings is
chronicled on the attached bank reconciliation sheet. The city accrued $15,122 in interest
receivable at fiscal year end. �
Taxes Receivable: The City has tax receivables of roughly $93,168—delinquent taxes
derived from balances remaining from 2004 through 2010. ,
General Receivables: The City has receivables of roughly $229,449 at month's end.
This receivable amount is primarily made up of utility bill payments from the last quarter of 2010.
Special Assessments Receivable: The City has special assessment receivables from �
various sources in the amount of $15,876—delinquent special assessments are derived from
balances remaining from 2008 through 2010.
Special Assessments Deferred: The City has future special assessment principal
balances from various sources in the amount of $2,451,390. These are outstanding principal
balances with annual payment schedules, which are then used to assist in the payment of there
respective bond issues.
Inventory: The City has roughly $3,411 worth of water meters that are held and
distributed on a need basis.
Land/Other Fixed Assets: The City has roughly $23,309,999 in land, infrastructure and
other fixed assets (net of depreciation) at the end of fiscal year 2010.
Liabilities
Interfund Loans: The Sewer fund has loaned $448,828 to the General Fund, $1,108,312
to the Parlc Capital Project Fund, $110,000 to the Storm Water Fund and $371,334 to the 2009 B
Bond fund—totaling $2,038,474.
Long Term Debt: The City of Centerville has five outstanding bond issues as of
1/31/11-2004 B, 2005 A, 2007 A, 2009 B, and 2009 A. The total current debt (principal to be
paid back in 2011) is $185,833. Total long term debt outstanding (principal to be paid back 2012
through 2025) is $9,965,585.
Fund Balance
Fund Balance: The City of Centerville began fiscal year 2010 with a General Fund
balance of $1,049,749 and has since (1/1/11 through 1/31/11) incurred an excess of expenditures
over revenues of ($50,185}--leaving the City with a tota! General Fund balance of $999,565 at
the end of January.
Revenue I Expense Statement — General Fund ,
Revenue
Property Tax and State Grants: The City has not received any revenue in this
classification and therefore revenue is at 0% of the year to date budget. The City will receive its
first tax settlement payment in July of 2011.
Licenses and Fees: Licenses and Fee revenue consists of mostly fees derived from the
selling of liquor licenses. The City has received $4,141 in this revenue source or 14% of the year
to date budget through the month of January.
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 $680 in Building inspection revenue or 1% of the year to date budget.
Police Aid: The City has not received any Police associated revenue through the month
of January and therefore revenue is at 0% of the year to date budget.
Fire Aid: The City has not received any Fire Aid revenue through the month of January
and therefore revenue is at 0% of the year to date budget.
Interest Earnin9s: The City has received $1,024 in interest revenue or 5% of the year to
date budget through the month of January.
Overall, general fund revenues are coming in at roughiy 2% of the year to date budget
through January.
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 the five member City Administration team. General Government
expenditures total roughly 19,714 or 4% of the year to date budget through January.
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 $60,553 or 6% of the year to date budget through January.
Public Works: Public Works expenditures include salaries / benefits associated with the
departments five full time employees. This classification also captures expenditures of supplies
and purchases services that are used to maintain the city parks and streets. Public Works
expenditures totaled roughly $8,383 or 2% of the year to date budget through January.
Engineering: General Fund Engineering expenses are those that do not get billed
directly to a special project construction fund—Bonestroo. There were no engineering
expenditures through the month of January and therefore this classification is at 0% of the year to
date budget.
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 $1,704 or 9% of the year to date budget through
January.
Recycling: The Recycling fund consists of all expenditures related to the County's
SCORE fund program—whereas the city is reimbursed 1:1 for every expenditure. Through the
month of January recycling related expenditures totaled $263 or 2% of the year to date budget.
Capital Outlay: The Capital outlay classification consists of major items that fall outside
the realm of normal yearly activity. Through the month of January capital outlay related
expenditures totaled $1,243 or 1% of the year to date budget.
Overall, General Fund expenditures totaled roughly $91,860 through January or 4% of
the year to date budget.
Analysis Prepared By;
Michael Jeziorski
Finance Director
City of Centerville
Bank Reconciliation
Fiscal Year 2011
1131/11
. �•.. .
Central Bank Main Checking 194,126.81 339,524.03 1,211,498.56 825,000.00 29.46 147,181.74
Flex Savings 4,909,261.53 (825,000.00) 3,673.62 4,087,935.15
CD 1,000,000.00 1,000,000.00
6,103,388.34 339,524.03 1,211,498.56 - 3,703.08 5,235,116.89
Smith Bamey Money Market 1,273.05 248.68 - 1,521.73
CD - Capital One Bank 90,000.00 90,000.00
CD - Doral Bank 96,000.00 (248.68) 248.68 96,OQ0.00
CD - Citi Bank 62,000.00 62,000.00
249,273.05 - - - 248.68 249,521.73
Total Cash per Statements 6,352,661.39 338,524.03 1,Z11,488.56 3,951.76 5,484,638.62
G x�oc-10100 BDS 5,449,079.60
OutsWnding 35,559.02
Total 5,484,638.62
Unreconciled 1 -
OK
CB Collateral 6,528,481.80
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Unaudited - For Management Purposes Only
City of Centerville
Balance Sheet
Fiscal Year 2011
1131111
Other
Govemmental
Fund Name General Fund Debt Serviee Funds Enterprise Funds Ali Funds
G�oa-10100 Cash 1,474,750.86 1,655,580.69 990,600.88 1,328,147.17 5,449,079.60
G�ooc-10200 Pefly Cash 199.00 - - - 199.00
G�ooc-10250 Cougar Cash 150.00 - - - 150.00
G�ooc-10450 Interest Receivable on Invest 15,121.91 - - - 15,121.91
G�ooc-10700 Taxes Receivable-0elinquent 93,167.61 - - - 93,167.61
G�ooc-10800 Albw tor Uncollected Taxes (93,167.61) - 93,167.61 - -
G�ooc-11500 Accounts Receivabb 3,974.11 - 41,691.80 183,782.62 229,448.53
G�ooc-12200 Speciai Assess Rec - Delinquent 4,80126 4,949.90 - 6,124.48 15,875.64
G poc-12300 Special Assess Rec-Deferred 96,117.15 2,217,331.64 - 137,941.33 2,451,390.12
G�ooc-13100 Due from Ofher Funds - - - 2,038,474.00 2,038,474.00
G�ooc-14200 Inventory Tor Resale - - - 3,410.95 3,410.95
G�ooc-15620 Unamort¢ed Bond Discount - - 159,165.00 - 159,165.00
G�oc-16100 Land - - 3,308,023.30 196255.00 3,504,278.30
G�ooc-16200 Buikiings - - 1,627,438.00 414,000.00 2,041,438.00
G �ooc-16330 SVeets - - 7,294,202.31 - 7,294,202.31
G �ooc-16331 Trails - - 1,310,166.00 - 1,310,166.00
G�ooc-16335 Stomi Water - - 1,745,288.00 - 1,745,288.00
G�ooc-16400 Machinery - - 804,252.87 8,408,623.81 9,212,876.68
G�oa-16500 Fbced Asset-!n Progress - - 4,038,168.64 0.77 4,038,169.41
G�ooc-16600 Fbced Assets - - - 981,047.78 981,047.78
G �ooc-16999 Accumulated Depreciation - - (4,003,549.10) (2,813,917.96) {6,817,467.06)
G �ooc-20800 State Sales and Use Tax - - - 72•89 72•89 I
G x�oc-20900 Due to Other Funds 448,827.82 371,334.30 1,108,311.88 110,000.00 2,038,474.00
G x�a-21500 Accrued Interest Payable - - 87,296.00 - 87,296.00 i
G xbc-21601 BenefiGs Payable - - 3,06620 987.49 4,053.69
G�ooc-21650 Compensated Absences - - 40,081.05 12,908.24 52,989.29
G �ooc-217t5 Dentai Insurance (497.10) - - - (497.10)
G�ooc-21717 OPEB - - 29,249.00 9,238.00 38,487.00
G�ooc-23100 Bonds Payable Non-Current - - 9,965,584.70 - 9,965,584.70 I
G x�a-22100 Bonds Payable Current - - 185,833.30 - 185,833.30
G�ooc-22200 Deferred Revenues 100,918.41 2,222,281.54 (2,323,199.95) - -
G xxx-24506 Road Repair Escrow 4,400.00 - - - 4,400.00
G x�oc-24508 Erosion Control Escrow 3,920.50 - - - 3,920.50
G x�oc-24510 Other Escrow 37,980.00 - - 355.50 38,335.50
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Fund Balanes I
G boc-25300 Unreserved Fund Balance at 12/31/10 1,049,749.39 2,065,171.24 7,359,741.65 10,749,843.37 21,224,505.65
Excess of Revenues over Expenses (1M/11 to 1/31 /11) (50,184.73) (780,924.85) 952,651.48 484.46 122,026.36 I
Total Fund Balanee 999,564.66 1,284,246.39 8,312,393.13 10,750,327.83 21,346,532.01 i
Unaudited - For Management Purposes Ony
City of Centerville
Revenue/Expense - Summary
Fiscal Year 2011
1/1/11 to 1/37/11 YTD as a
2011 Actual- % of
Account Description 1/31/71 FY 2011 Budget Budget
General Fund
Revenues
Property Tax - 1,670,60Q.00 0°/a
Special Assessments - 12,000.00 0%
State Grants - 1,300.00 0%
Licenses and Fees 4,141.25 30,400.00 14%
Building Inspection Permits 679.50 59,000.00 1%
Fines and ForFeits 718.22 33,500.00 2%
Police State Aid - 35,000.00 0%
Fire Relief Aid - 102,000.00 0%
Animal Control 20.00 1,500.00 1%
Antenna Lease 16,403.17 16,500.00 99%
Public Works 12,800.00 53,000.00 24%
Park and Recreation 350.00 3,400.00 10%
Recycling 5,539.31 16,500.00 34°/a
Interest Eamings 1,023.51 20,000.00 5%
Expenditures
General Government
Council - 31,800.00 0%
Administration 15,614.57 359,900.00 4% '%
Planning and Zoning - 2,600.00 0%
Auditing 4,000.00 15,000.00 27% I�
Assessing - 16,000.00 0%
Law and Legal - 75,000.00 0%
Ciry Hall/Fire Hall 99.28 21,400.00 0%
Total General Govemment 19,713.85 521,700.00 4% I
Public Safety
Police Protection 54,801.83 657,700.00 8%
Fire Protection - 222,000.00 0%
Building Inspec6on 4,853.27 135,300.00 4%
Electricallnspection 8,000.00 0% I
Civil Defense 478.20 1,500.00 32%
Anima! Control - 1,100.00 0%
Other Protection 420.00 1,200.00 35% I
Total Public Safety 60,553.30 1,026,800.00 6% �
Public Works
Public Works - General 7,309.00 234,400.00 3%
Public Works - Streets - 52,500.Q0 0%
Public Works - Parks Maintenance 1,074.06 74,900.00 1%
Total Public Works 8,383.06 361,800.00 2%
Engineering Services
Engineering Services - 2,000.00 0%
Total Engineering Services - 2,000.00 0%
Culture and Recreation
Parks and Recreation Committee - 2,000.00 0%
Parks and Recreation Programs 1,703.59 11,000.00 15%
City Festival - 5,500.00 0°/a
Total Culture and Recreation 1,703.59 18,500.00 9%
Economic Development
Economic Development - 9,100.00 0%
Unaudited - For Management Purposes Only
City of Centerville
Revenue/Expense - Summary
Fiscal Year 2071
1/1/11 to 1/31/11 YTD as a
2011 Actual - % of
Account Description 1/31/71 FY 2077 Budget Budget
Total Economic Development - 8,100.00 0%
Recycling
Recycling 263.22 16,500.00 2%
Total Recycling 263.22 16,500.00 2%
Capital Outlay
CapitalOuUay 1,242.67 98,300.00 1%
Total Capital Outlay 1,242.87 98,300.00 1%
Debt Service
Revenues
2004 B, 2005 A, 2009 B, 2007 A, 2009 A Bonds 30,729.95 992,600.00 3%
Expenses I
2004 B, 2005 A, 2009 B, 2007 A, 2009 A Bonds 811,654.80 1,252,065.00 65%
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Other Governmental Funds
Revenues
Other Govemmental Funds 291,863.27 - N/A
Expenses
OtherGovernmentalFunds (660,788.21) - N/A
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Enterorise Funds
Revenues
Water 17,232.53 341,800.00 5%
Sewer 23,864.74 413,100.00 6%
Storm 5,928.27 83,000.00 7%
Expenses
Water 8,342.64 348,700.00 2%
Sewer 37,019.20 441,700.00 8%
Storm 1,179.24 199,300.00 1 %
Unaudited - For Management Purposes Only
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DRAFT
ADOPTED CITY COUNCIL GOALS AND OBJECTIVES 20'11
GOAL OBJECTIVE ' STEP Council Staff Consultant Other Time Frame
�. Plan for Community Need and Facilities
: A. Pubiic Works Facilities. --_V_______� --_� - �-
__..__ __ ---__ _ ----_.—___________ _ .. _ _-------
----._. ---_. _ � ____ _ _____ _ _- ---� __� —
1. Dispose of 20th Avenue Site. (Proceeds to pay debt on 2085 Cedar Street), xx ; xx
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B. '; Street improvements ' i
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11. Update Pavement Mana ement Plan ��� ^' ! � �a x�c
20 year street capital improvement and maintenance plan i
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; C. !Mana e Stormwater facilities � i �
i ' 1. Inspect stormwater facilities and ponds. I �___ xx � Annual
j 2. Identify s stem improvements and maintenance projects. i �oc xx ' 6/30/2011
� ! 3. Develop funding strategies for needed maintenance and improvements. __ xx 8/1512011
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�!, n. ! Community Development to attract new business and tax base i
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A. �Activate Economic Development Authority (EDA} - i -- _�
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denti a eas f invo v m nt for A
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� B. D owntown Redevel � � ;
'� � 1. Finalize and execute developer agreement xx �cx xx Developer Complete
' � 2. Complete Masterplan fo infrastructure � : � x�c Complete
� a. Secure permits for project � �! ^! ' xx Developer
I 3. Environmental Asse ssment � xx Complete
;4. Establish T!F district for Phase 1 '
' �5. Incorparate school district concerns into redev plan Developer
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�6. Secure rants for redevelopment xx ! Developer
I7_ Purchase property _ � ; +__ _ xx Developer
' ; 8. Construet Phase 1 i ! Developer
� �, 9. Construct drainage ponds 1& 2 � '
;10. Construct downt streets and utilities. �
I ! 11. A uire sur lus ro erties from An k n � xx xx � Com lete
cq p p p o a Cou ty p
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DRAFT
ADOPTED CITY COUNCIL GOALS AND OBJECTtVES 2011
GOAL OBJECTIVE ' STEP ' ' ! Councll ' Staff ' Consultant Other Time Frame
I. j Plan for Community Needs and Facilities '
� A. Public Works Facilities. ___ _ ,�_ _
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I 1. Dispose of 20th Avenue Site. (Proceeds to pay debt on 2085 Cedar Street). xx �c
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' B. Street Improvements ' ' '
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1. Update Pavement Management Plan xx xx
� 2 year st ree t cap itai improvement and maintenance plan
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� C. ' Manage Stormwater facilities i
' 1. Inspect s tormwater f acilit ies and ponds. I ' xx I Annual
2. Identify s stem improvements and maintenance pro'ects. xx ' xx 6/30/2011
! 3. Develop funding strategies for needed maintenance and impravements. { xx 8/15/2011
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n. i' Community Development to attract new business and tax base ' !
A. I Activate Economic Development Authority (EDA) I , '
' ' 1. Identify a reas of in for EDA. I '
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B. Downtown Redevelopment '
I 1. Finalize and execute developer agreement � xx ' xx ' xx Developer Complete
' 2. Complet Masterplan for infrastructure I xx Complete
' ' a. Secure permits for project ' ' xx Deve(oper
' 3. Environ Asse i : xx Complete
4. Establish TIF district for Phase 1
I5. Incorporate school district concems int redevelopment plan ' Developer
16. Secure grants for redevelopment ' xx Developer
7. Purchase property ' ' xx Developer
' 8. Construct Phase 1 � I Developer
9. Construct drainage ponds 1& 2
' 10. Constr dow stre a nd utiliti � '
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' 11. Acquire surplus properties from Anoka Coun xx '— xx � Complete
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DRAFT
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C. i Encourage Industrial development-
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' -' 1. Market lots in conjunction with Commerce Drive (backage road). xx '
i 2. Redevelo of Reel Mfg Site ' �
' 3. Work with Rehbein to remove dirt piles and develop land. xx I xx
' '4. Encoura e use of Tw in Cities Community Capital Fund xx ; Defunct
� ; 5. Support re gional coop eration in economic development
a. Anoka County Communities
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b. MetroMSP website. i '
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D. Com rehensive Plan U date
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' ' ! 1. Met Council review of draft plan. ' Complete
'2. P�Z hearing & recommend updated plan ' P&Z Complete
; ' 3. Adoption by Council ' �_ xx ' ' Complete
� � 4. Review and amend Zoning to comply with Comp Plan. i 4/1 /2011
� E. I Water Emergency and conservation Plan I , �
Adoption of plan b City xx ' Complete
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III. ! Manage Revenue - Taxes and Tax Rates ' ' � 'I
' A. ;Analyze utility rates and charges-implement adjustments as needed. ' I
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1. Review rates and charges for sanitary sewer and water xx An nual
2. Report to Council on recommended rate change ' xx j 7/31/2
' 3. Consider alternative method of charges (ie metered sewer charges) xx '
'4. Conside auto mated meter reading system xx
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'� B ! Analyze rates and charges for stormwater utility-plan future pond maintenance expendituresi
I 1. Develop pond maintenance plan with cost estimates by ear : xx ' xx Annual
' 2. Adjust stormwater fees to accumulate funds for pond maintenance xx xx
' ', 3. Review rates and charges Annua!
_ !4. Report to Council on recommended changes_ _ _ `_�— 7/31/2011 �
�5. Capital improvement and maintenance plan. ' 7/31/2011
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DRAFT
' C. Explore other revenue sources i '
1. Consider street lighting utility ' _'_ �oc xx
' 2. Apply for grants and other sources of funds ' xx Ongoing
3. Encoura legislatur to adopt a more balanced LGA formula xx xx ' Ongoing
4. Work with League of Cities to advocate for stormwater � � ,
; ' management rules that avoid unfunded mandates xx xx : Ongoing
D. � Plan for reductlons in State revenue '
' ' 1. Review forclosures and delinquencies and report to CounciL xx Ongoing
2. Consider revenue loss impacts and make adjustments in budget. xx I
, ! 3. Identify ways to cooperate and collaborate with other govemment units. xx xx
� 4. Provide direction to administrator for 2012 labor agreements. xx
E. ' Plan Capital Expenditures _ _ _ _
� 1. Identify capital needs for next twenty years. I xx xx 7/31 /2010
' 12• Identify revenue sources and tax impacts. ! xx '
! ' 3. App�ove capital expenditure plan. � � xx ' '
14. Plan par facilities to coRespond with full development of Comp Plan ' P& R
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IV. i Maintain a safe community ta attract and retain citizens and business
A. ' Adopt emergency plan. _---� -
' ' 1. Train council and staff in emergency preparedness xx xx ' Ongoing
i 2. Support implementation of Citizen Corp Council ' ' Ongoing
, �
_ B. ' Increase community safety 8� awareness _
' 1. Encourage neighborhood watch groups ' I Ongoing
' ' 2. Encourage participation in National Night Out___ Ongoing
�; 3. Promote CERT volunteer program ' Ongoing
' 4. Conside alternativ communication opportunities Ongoing
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' C. ' Implement neighborhood trails using grant funds. ' ,
_ ' 1. Secure easements -_— — _ _— - _ __ ' ' xx ! Complete '
' 2. Engineering for bids xx Complete ,
' 3. Se cure and approve bids ' xx ' xx . xx Comp
— �_-__— - --- ----. . __ _- ------- ---- -- .- - --- ---- - -- _— _.......--- --- ---
_ 4. Construct Project. -- ---`_ __ _ _ , xx xx 2011 ��
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DRAFT
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Future Issues List '
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A. City Hall-consider addition to existing or relocation to anather! �
' This is considered a low priority by Council at this time. ''. '
' B. ', Community entry signs.(Welcome to Centerville) '
'! 1. Identify sign types and costs � , i _
!, 2. Identify location for signs ' ' ' '
' 3. Present report to Co uncil for decision ;
14. Acquire lease or permit for proposed locations. —�— �
' S. Construc signs �
Council feels that the design should be finalized, along with acquiring the locations.
! C. Eagle Park Lighting ' ' '
D. ' Consider adequac of street lighting ! I
' E. !Trailside park-indian burial mound.
F. Develop si n replacement plan - � -'
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