HomeMy WebLinkAbout2004-04-14 Handouts
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tervi{{e
'Esta6fis!it4- 1857
UPDATE
REeEI PTS AND DISBURSEMENT
APRI L 9TH ROUGH APRI L 14, 2004
RECEI PTS
$6,786.67
DISBURSEMENTS
$46,232.21
.
.
CITY OF CENTERVILLE
04/14/04 3:19 PM
Page
Cash Receipts
April 9th through April 14, 2004
Tran Batch
Amount Date Refer Comments Name Account Oeser
FUND 101 GENERAL FUND
Act Type G General Ledger
$0.50 4/1412004 1967 73RD ST - 04-018 04-14-04 G 101-24500 Bldg. Pennit Surcharge
$2.00 4/14/2004 9 7129 BRIAN WAY - 04-019 04-14-04 G 101-24500 Bldg. Pennit Surcharge
$0.50 4/14/2004 8 1755 PARTRIDGE PL- 04-14-04 G 101-24501 Plmbing Pennil
$111.35 4/1412004 o UB UR Receipt Group 01 041404UT G 101-11500 Accounts Receivable
$3.50 4/14/2004 6 1735 DUPRE RD - 04-017 04-14-04 G 101-24500 Bldg. PennilSurcharge
Act $117.85
Act Type R Revenue
$33.50 4/12/2004 19 DOG TAG #206 2004-05- 04-12-04 R 101-42700-32200 Animal Licenses
$194.00 4/1212004 20 7381 OLD MILL RD - LOT 04-12-04 R 101-42285-32000 Special
$2,267.55 4/14/2004 11 MARCH 2004 FINES & 04-14-04 R 101-42110-35000 Fines and Forfeits
$8.50 4/14/2004 3 DOG TAG# 207 2004 -2005 04-14-04 R 101-42700-32200 Animal Licenses
$10.53 4/14/2004 4 PHOTO COPIES ON 04-14-04 R 101-41400-34105 Sale of Maps and
$305.79 4/14/2004 6 1735 DUPRE RD - 04-017 04-14-04 R 101-42400-32210 Building Pennils
$33.50 4/14/2004 7 2004-05 DOG TAG # 208 - 04-14-04 R 101-42700-32200 Animal Licenses
$100.00 4/14/2004 8 1755 PARTRIDGE PL- 04-14-04 R 101-42400-32180 Piumbing Pennits
$180.48 4/14/2004 9 7129 BRIAN WAY - 04-019 04-14-04 R 101-42400-32210 Building Pennils
$8.50 4/14/2004 10 DOG TAG 2004-2005#109 04-14-04 R 101-42700-32200 Animal Licenses
$51.15 4/14/2004 1 967 73RD ST - 04-018 04-14-04 R 101-42400-32210 Building Pennils
Act $3,193.50
FUND $3,311.35
FUND 415 STORM WATER IMP PROJECTS
Act Type R Revenue
$5.00 4/1212004 o UB Receipt Serv 10 DRAIN 041204ut R 415-43000-32350 Stann Water
$0.50 4/1212004 o UB Receipt Serv Pen 10 041204ut R 415-43000-32350 Stann Water
$1.17 4/1412004 o UB Receipt Serv Pen 10 041404UT R 415-43000-32350 Stann Water
$11.70 4/1412004 o UB Receipt Serv 10 DRAIN 041404UT R 415-43000-32350 Stann Water
Act $18.37
FUND $18.37
FUND 601 WATER FUND
Act Type R Revenue
$64.60 4/12/2004 o UB Receipt Serv 1 WATER 041204ut R 601-49400-37100 Water Sales
$6.46 4/12/2004 o UB Receipt Serv Pen 1 041204ut R 601-49400-37100 Water Sales
$54.55 4/1412004 o US Receipt Serv 1 WATER 041404UT R 601-49400-37100 Water Sales
$5.46 4/1412004 o UB Receipt Serv Pen 1 041404UT R 601-49400-37100 Water Sales
Act $131.07
FUND $131.D7
FUND 602 SEWER FUND
Act Type R Revenue
$4.90 4/1212004 o UB Receipt Serv Pen 6 041204ut R 602-43200-37200 Sewer Sales
$49.00 4/1212004 o UB Receipt Serv 6 SEWER 041204ut R 602-43200-37200 Sewer Sales
$65.52 4/14/2004 o UB Receipt Serv 6 SEWER 041404UT R 602-43200-37200 Sewer Sales
$6.55 4/14/2004 o UB Receipt Serv Pen 6 041404UT R 602-43200-37200 Sewer Sales
Act $125.97
FUND $125.97
FUND 619 SAVINGS & CD INTEREST
Act Type R Revenue
$2,500.00 4/1212004 2 interest on FNMA 04/12/04int R 619-49200-36210 Interest Earnings
$699.91 4/1212004 1 Interest on CD #300198 04/12/04int R 619-49200-36210 Interest Eamings
Act
$3,199.91
FUND
$3,199.91
$6,786.67
CITY OF CENTERVILLE
04/14104 3:13 PM
Page 1
.Check Summary Register@
Name
10100 MAIN STREET BANK
Paid Chk# 019113 CENTENNIAL LAKES POLICE
Paid Chk# 019114 GOPHER STATE ONE CALLlNC
Paid Chk# 019115 HASLER, INC.
Paid Chk# 019116 PUBLIC EMPLOYEES INS
Paid Chk# 019117 QWEST
Paid Chk# 019118 50S 12-1900
l..
Check Date
4/1412004
411412004
4/1412004
4/1412004
4/1412004
4/1412004
Total Checks
APRIL 2004
Check Ami
$28,746.79 APRIL SERVICES
$39.10 SERVTHRU MARCH
$14.05 1-23-04- RESET
$17,297.09 MAY 2004 INS.
$112.66 651-407-7090 SERV THRU 4-30-04
$22.52 REPLACE SPRINKLER HEAD - DUE T
$46,232.21
tervi[[e
'Esta6[isliecf 1857
City of Centerville
Summary Financial Report
Year Ended December 31, 2003
Summary Financial Report
City of Centerville
The purpose of this report is to provide a summary of financial information concerning
the City of Centerville to interested citizens. The complete financial statements may be
examined at the Centerville City Hall, 1880 Main Street, Centerville, MN. Questions about
this report should be directed to Kim Moore-Sykes, City Administrator, 651-429-3232.
Revenues and Expenditures for General Operations
(Governmental and Expendable Trust Funds)
Percent
Total Total Increase
2003 2002 (Decrease)
1,465,002 1,379,409 6.2%
1,103,070 949,866 16.1%
162,332 242,833 -33.2%
773 1,725 -55.2%
270,719 280,551 -3.5%
26,830 21,306 25.9%
87,876 61,975 41.8%
368,026 295,621 24.5%
3,484,628 3,233,286 7.8%
Revenues
Taxes
Special Assessments
Intergovernmental Revenues
Charges for Services
Licenses and Perrnits
Fines & Forfeits
Interest on Investments
Other
Total
Expenditures
Current
General Government
Public Safety
Streets and Highways
Culture and Recreation
Other
Capital Outlay
Debt Service
472,947 473,702
789,171 725,288
286,508 201,019
61,779 74,679
18,796 9,671
947,760 1,051,524
494,602 623,312
3,071,563 3,159,195
413,065 74,091
726,748 622,662
208,791 1,227,703
(198,250) (681,438)
3,812,033 2,569,015
4,962,387 3,812,033
-0.2%
8.8%
42.5%
-17.3%
94.4%
-9.9%
-20.6%
Total
-2.8%
Excess of Revenues Over
(Under) Expenditures
457.5%
other Financing Sources (Uses)
Borrowing
Transfers In
Transfers Out
16.7%
-83.0%
-70.9%
Fund Equity, Beginning of Year
48.4%
Fund Equity, End of Year
30.2%
.
Key Financial Health Indicators
City of Centerville
2003
2002
2001
Current Population
3,430 3,331
3,245
Net Tax Capacity
2,446,755 2,071,728
2,455,864
Percent of Property Taxes Collected
92.09% . 98.29%
98.07%
City Revenues Per Capita
(Governmental Funds)
$1,016 $971
$752
City Expenditures Per Capita
(Governmental Funds)
$896 $948
$952
Ratio of Bonded Debt to Tax Capacity
1.3 1.6
1.6
Bond Rating
None None
None
. The State of Minnesota imposed a reduction of market value homestead credit in the amount
of $84,551, as a result of legislation passed in 2002. If the City had received the full amount
of the credit, the collection rate would have been 97.80% in the year 2003.
The complete financial report, available at the Centerville City Hall,
1880 Main Street, Centerville, MN, includes the detail of the published report.
CITY OF CENTERVlLLE, MINNESOTA
STATEMENT OF NET ASSETS
DECEMBER 31, 2003
Governmental Business-type
Activities Activities Total
ASSETS
Cash and cash temporary investments $ 5,125,841 $ 3,355,328 $ 8,481,169
Receivables
Accrued interest 13,959 10,112 24,071
Delinquent taxes 90,743 90,743
Accounts 7,078 119,508 126,586
Special assessments 460,568 408,255 868,823
lotergovernmental 4,698 4,698
Inventories 11 ,423 11,423
Prepaids 5,358 5,358
Deferred charges 11,608 3,957 15,565
Fixed assets (net of accwnu1ated depreciation) 5,462,200 4,717,942 10,180,142
TOTAL ASSETS 11,182,053 8,626,525 19,808,578
LlAB1LlT1ES
Accounts payable 155,062 544 155,606
Accrued saiaries payable 5,645 797 6,442
ContIacts payable 46,180 46,180
Due to other governments 3,040 3,756 6,796
Accrued interest payable 49,443 9,076 58,519
Deposits payable 24,300 24,300
Unearned revenue 14,370 14,370
Long-term liabilities
Due within one year
Bonds payable 375,000 70,000 445,000
Due in more than one year
Compensated absences 9,477 2,418 11,895
Bonds payable 2,920,000 400,000 3,320,000
TOTAL LIABlLlTIES 3,602,517 486,591 4,089,108
NET ASSETS
Invested in capital assets, net of related debt 2,167,200 4,247,942 6,415,142
Restricted for:
Capital projects 71,631 71,631
Debt service 3,095,838 3,095,838
Unrestricted 2,316,498 3,820,361 6,136,859
TOTAL NET ASSETS $ 7,579,536 $ 8,139,934 $ 15,719,470
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CITY OF CENTERVlLLE, MINNESOTA
STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
YEAR ENDED DECEMBER 31,2003
Business-type Activities ~
EnteIpOse Funds
Water Sewer Totals
OPERATING REVENUE
Charges for services $ 195,229 $ 233,299 $ 428,528
OPERATING EXPENSES
Salaries and benefits 45,217 44,477 89,694
Supplies 32,259 575 32,834
Other services and charges 39,895 13,693 53,588
Utilities 2,922 1,441 4,363
MCES - Disposal cbarges 126,693 126,693
Depreciation and amortization 66,515 65,734 132,249
TOTAL OPERATING EXPENSES 186,808 252,613 439,421
OPERATING INCOME (LOSS) 8,421 (19,314) (10,893)
NONOPERATING REVENUE (EXPENSE)
Interest on investments 29,894 45,938 75,832
Special assessments 322,521 202,570 525,091
Hook np rees and unit cbarges 94,735 94,574 189,309
InteRst expense (14,515) (17,837) (32,352)
TOTAL NONOPERATING REVENUE (EXPENSE) 432,635 325,245 757,880
INCOME BEFORE CONTRIBUTIONS AND TRANSFERS 441,056 305,931 746,987
CAPITAL CONTRIBUTIONS FROM OTHERPUNDS 194,929 75,7\2 270,641
OPERATING TRANSFERS OUT (10,540) (10,540)
CHANGES IN NET ASSETS 625,445 381,643 1,007,088
TOTAL NET ASSETS, JANUARY] 2,437,661 3,197,592 5,635,253
PRIOR PERIOD ADJUSTMENT 747,626 749,967 1,497,593
TOTAL NET ASSETS, DECEMBER 31 $ 3,810,732 $ 4,329,202 $ 8,139,934
l_ _
r - -
Audited
.- General Fund
Monthly Financial Report
Month Ended December, 2003 Final
% of year-
"';I#u..-d zw." 100,00%
AJE YTO Budget Variance % of Budget
12/31103 2003 2003 +(-) Used
Revenues:
Property Taxes 35,44142 1,425,172,03 1,480,623,00 55,450,97 9625%
Other Taxes & Assessments (1,17500) 1,847.35 000 (1,847,35) N/A
Licenses & Permits (10,518,60) 270,69314 217,400,00 (53,29314) 124,51%
Fines & Forfeits 1,80241 26,82960 20,000,00 (6,829,60) 134,15%
Intergovernmental 0,00 162,332,00 115,346,00 (46,986,00) 140,73%
Charges for Services 46,00 736,34 1,600,00 863,66 46,02%
Interest Earnings 2,23003 20,77741 20,000,00 (77741) 103,89%
Miscellaneous Revenues 2,39 9,29772 3,000,00 (6,297.72) 309,92%
Refunds & Reimbursements 1,196,95 25,32740 19,000,00 (6,32740) 133,30%
Fund Balance 000 0,00 0,00 0,00 0.00%
Total Revenues 29,025.60 1,943,012.99 1,876,969.00 (66,043.99) 103.52%
Expenditures:
Current
General Government
Mayor and Council 0,00 14,51447 17,550,00 3,035,53 82,70%
Elections 0,00 4347 0,00 (4347) NIA
Planning & Zoning 845 4,385,19 5,85000 146481 74,96%
Economic Development 0,00 3,711.15 6,000,00 2,288,85 61,85%
Administration 3,406,15 315,35222 338,970,00 23,61778 93,03%
Financial Administration 0,00 14,78487 8,00000 (6,784,87) 184,81%
Assessing 1,231.57 17,467,57 17,500,00 32.43 9981%
Legal 6,28700 78,594.55 74,000.00 (4,594.55) 106,21%
Engineering Services 3,035,98 14,223,83 15,000,00 776,17 94,83%
Insurance 0.00 0,00 0,00 000 0.00%
City Hall 2,718,52 27,80588 21,600.00 (6,205,88) 128-73%
Total General Government 16,687.67 490,883.20 504,470.00 13,586.80 97.31%
Public Safety
Police Protection 0,00 486,36900 484,54900 (1,82000) 100,38%
Fire Protection 000 210403,00 91,621.00 (118,78200) 229.64%
Buiiding Inspection 75920 81,126.73 92,39300 11,26627 87,81%
Electrical Inspection 1,789.60 8,791.14 6,00000 (2,791.14) 146,52%
Civil Defense 000 1,122,06 1,100.00 (22,06) 102,01%
Animal Control 12196 1,35922 500.00 (85922) 271.84%
Total Public Safety 2,670.76 789,171.15 676,163.00 (113,008.15) 116.71%
Public Works
Pubiic Works 1,98544 123,379,36 148,884,00 25,504,64 82,87%
Streets 67,355.18 123,038-56 15,000,00 (108,038-56) 82026%
Street Lighting 1,987,87 22,89134 25,000.00 2,10866 91,57%
Total Public Worlts 71,328.49 269,309.26 188,884.00 (80,425.26) 142.58%
Sanitation
Recycling 2725 2,974.97 7,500.00 4,525,03 39,67%
Total Sanitation 27.25 2,974.97 7,500.00 4,525.03 39.67%
4/1212004
9:33 AM
budget Dee 03 finaL xis
AJE VTD Budget Variance % of Budget
12131103 2003 2003 +(-) Used
Culture and Recreation
Park/Rec. Committee 0.00 1,327.68 2,080.00 752.32 63.83%
Park/Rec. Programs 45.75 2,32380 13,75000 11,42620 16.90%
Park Maintenance 598.94 54,243.04 54,663.00 419.96 99.23%
Total Culture and Recreation 644.69 57,894.52 70,493.00 12,598.48 82.13%
Miscellaneous
Refunds & Reimbursements 4.05 1,38374 0.00 (1.383.74) 0.00%
City Festival 38.03 13,700.59 10,00000 (3,700.59) 137.01%
Total Miscellaneous 42.08 15,084.33 10,000.00 (5,084.33) 150.84%
Total Cunent Expenditures 91,400.94 1,625,317.43 1,457,510.00 (167,807.43) 111.51%
Capital Outlay
General Government 0.00 28,257.92 29,00000 742,08 97.44%
Public Safety 0.00 000 0.00 0.00 0.00%
Streets and Highways 62,86000 62,860.00 360,22300 297,36300 17.45%
Cu~ure and Recreation 0.00 0.00 0.00 0.00 0.00%
Total Capital Outlay 62,860.00 91,117.92 389,223.00 298,105.08 23.41%
TOTAL EXPENDITURES 154,260.94 1,716,435.35 1,846,733.00 130,297.65 92.94%
EXCESS (DEFICIT) OF REVENUES (125,235.34) 226,5n.64 30,236.00 (196,341.641 749.36%
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Operating Transfer In 000 9,434.10 30,00000 20,565.90 0.00%
Operating Transfer Out 000 (105,564.40) (60,236.00) 45,32840 175.25%
TOTAL OTHER FINANCING 0.00 (96,130.30) (30,236.00) 65,894.30 317.93%
SOURCES (USES)
EXCESS (DEFICIENCY) OF (125,235.34) 130,447.34 0.00 (130,447.341
REVENUE AND OTHER FINANCING
SOURCES OVER EXPENDITURES
AND OTHER FINANCING USES
4/12/2004
9: 33 AM
budget Dee 03 final.xls
Audflzd
Water Fund
Monthly Financial Report
Month Ended December 31, 2003 Final
% of year-
100.00%
AJE YTD Budget Variance % of Budget
12/31103 2003 2003 +(-) Used
Operating Revenue:
Charges for Services 1,538.01 195,229.05 185,000.00 (10,229.05) 105.53%
Total Operating Revenue 1,538.01 195,229.05 185,000.00 (10,229.05) 105.53%
Operating Expenses:
Salaries and Benefits 1,60834 44,453.22 44,79200 338.78 99.24%
Supplies (724.00) 31,85312 30,100.00 (1,753.12) 105.82%
Other Services and Charges 359.93 36,723.05 138,100.00 101,376.95 26.59%
Utilities 39.14 2,92158 3,00000 78.42 97.39%
Depreciation 66,514.90 66,514.90 0.00 (66,514.90) 0.00%
Total Operating Expenses 67,798.31 182,465-87 215,992.00 33,526.13 84.48%
OPERATING INCOME (66,260.30) 12,763.18 (30,992.00) (43,755.18) -41.18%
Nonoperating Revenue (Expense)
Interest on Investments 4,118.49 29,891.49 20,000.00 (9,891.49) 149.46%
Special Assessments 240,100.12 322,523.25 40,000.00 (282,523.25) 806.31 %
Hook up Fees and Unit Charges 253.48 90,535.38 65,000.00 (25,535.38) 139.29%
Interest Expense (4,084.00) (14,593.75) (11,590.00) 3,003.75 125.92%
Contributions from other Funds 194,929.00 194,929.00 0.00 (194,929.00) N/A
Refunds & Reimbursements Rev 000 4,198.92 5,000.00 80108 83.98%
Refunds & Reimbursements Exp (11.01) (4,262.64) (4,500.00) (237.36) 94.73%
T olal Nonoperating Revenue 435,306.08 623,221.65 113,910.00 (509,311.65) 547.12%
(Expense)
INCOME BEFORE OPERATING 369,045.78 635,984.83 82,918.00 (553,066.83) 767.00%
TRANSFERS
OPERATING TRANSFERS OUT (10,539.00) (10,539.00) (15,OOO.OO) (4,461.00) 70.26%
NET INCOME 358,506.78 625,445.83 67,918.00 (557,527.83) 92o.s8%
CREDIT FOR DEPRECIATION ON 0.00 0.00 0.00 0.00 0.00%
CONTRIBUTED ASSETS
NET INCREASE IN RETAINED 358,506.78 625,445.83 67,918.00 (557,527.83) 920.88%
EARNINGS
4/12/2004
10:33 AM
budget report water Dee 03 finaL xis
AuiltIzd
Sewer Fund
Monthly Financial Report
Month Ended December 31, 2003 Final
% of year -
100.00%
AJE YfD Budget Variance % of Budget
12/31103 2003 2003 +(-) Used
Operating Revenue:
Charges for Services (9,322.15) 233,29943 210,000.00 (23,29943) 111.09%
Total Operating Revenue (9,322.15) 233,299.43 210,000.00 (23,299.43) 111.09%
Operating Expenses:
Salaries and Benefits 1,608.34 44,47682 44,792.00 315.18 9930%
Supplies 20.74 57449 4,50000 3,925.51 12.77%
Other Services and Charges 52.00 13,661.29 10,000.00 (3,661.29) 136.61%
Utilities 81.39 1,441.19 1,500.00 58.81 96.08%
MCES Disposal Charges 0.00 126,69365 130,000.00 3,306.35 9746%
Depreciation 65,733.98 65,733.98 0.00 (65,733.98) 0.00%
Total Operating Expenses 67,496.45 252,581.42 190,792.00 (61,789.42) 132.39%
OPERATING INCOME (76,818.60) (19,281.99) 19,208.00 38,489.99 -100.39%
Nonoperating Revenue (Expense):
Interest on Investments 6,032.00 45,93800 28,000.00 (17,938.00) 164.06%
Special Assessments 168,154.91 202,569.74 50,00000 (152,569.74) 405.14%
Hook up Fees and Unit Charges 000 94,573.75 35,000.00 (59,573.75) 270.21 %
Interest & Fiscal Charges (4,992.00) (17,837.25) (11,590.00) 6,24725 153.90%
Contributions from Other Funds 75,712.00 75,71200 000 (75,712.00) NIA
Refunds & Reimbursements (31.75) (31.75) 0.00 31.75 0.00%
Total Nonoperating Revenue 244,875.16 400,924.49 101,410.00 (299,514.49) 395.35%
(Expense)
INCOME BEFORE OPERATING 168,056.56 381,642.50 120,618.00 (261,024.50) 316.41%
TRANSFERS
OPERATING TRANSFERS OUT 0.00 0.00 (15,000.00) (15,000.00) 0.00%
NET INCOME 168,056.56 381,642.50 105,618.00 (276,024.50) 361.34%
CREDIT FOR DEPRECIATION ON 0.00 0.00 0.00 0.00 0.00%
CONTRIBUTED ASSETS
NET INCREASE IN RETAINED 168,056.56 381,642.50 105,618.00 (276,024.50) 361.34%
EARNINGS
411212004
10:59 AM
budget report sewer Dec 03 finaLxis
City of Centervitfe
Narrative for Financial Statements
Year Ended December 31, 2003
Attached are the audited financial statements for the General Fund and Enterprise Funds
for the City of Centerville. These reports are summarized from the audited
comprehensive annual financial statement.
General Fund
Revenues:
1. Taxes
Property tax revenues are at 96.25 % for the year. This is due to three factors: the
amount of market value homestead credit for the year 2003 should have been
$104,019; a surplus TIF settlement in the amount of $58,940 was received; the
remaining difference constitutes delinquent taxes.
2. Intergovernmental
In the 2003 legislative session, the city lost all of its LGA, $13,413, and most of
the MVHC, $84,431, resulting in a total loss of $97,844 for fiscal year 2003. The
first half of the reduced Market Value Homestead Credit (MVHC), in the amount
of$9,794, was received in October and the second half, in the amount of$9,674,
was received in December. The police state aid payment, in the amount of
$25,249, was received in December and exceeded the amount anticipated. State
fire aid in the amount of $116,282, also exceeding the amount anticipated, was
received in November and was transferred to the Centennial Fire Department in
December. PERA aid, in the amount of$I,333 was also received in two
payments.
3. Licenses and Permits
Permit revenue exceeded budget by $53,293 for the year. The budget amount for
licenses and permits was increased in the year 2004; however, permit revenues
will begin to drop off as the City reaches full development potential. Next to
taxes and intergovernmental revenue, permit revenue is the third largest source of
city income.
4. Charges for Services
Assessment searches and map sales are below budget for the year. Since charges
for services are a minor part of the budget, the overall impact is negligible.
5. Interest
Interest income was slightly above budget for the year.
6. Fines and Forfeits
Due to alcohol and tobacco sting activity, fine revenue is above budget for the
year.
7. Miscellaneous
Miscellaneous Revenue includes $2,376.25 in tipping rebate fees from Waste
Management. These fees were not known and, therefore, not considered at
budget time.
8. Refunds and Reimbursements
The refunds and reimbursements line item contains items that do not have an
affect on the City's budget, such as pass-through gambling funds. The amount
shown includes a $2,018 workers' compensation premium refund from LMCIT,
the receipt of $1 ,500 earmarked for defibrillators for the police department, and
$12,500 in gambling funds for the fire department.
9. Transfers In
Administrative costs and interest income were transferred to the General Fund
when closing out the TIF 1-3 Fund.
Expenditures:
1. Financial Administration
The budget amount for audit services was cut in half from last year, which proved
to be too optimistic. Cost- saving measures have been implemented, however, not
all of those savings were realized this year. It is expected that additional savings
will be realized next year, however, extra expenses will likely occur as a result of
implementing GASB 34 and SAS 99.
2. Assessing
Payments were made to Anoka County for assessment services.
3. Legal
The legal budget was increased substantially this year; however, legal fees
exceeded budget by $4,594.
4. Engineering
Engineering charges were slightly below budget.
S. City Hall
Due to increased energy costs, city hall plant expenses have exceeded budget.
6. Police Protection
Monthly payments are made to the Centennial Lakes Police Department in the
amount of$40,379. In addition, $1,500 in charitable gambling donations was
passed through for the purchase of medical equipment.
7. Fire Protection
Payments are made quarterly in the anlount of$20,405.25 to Centennial Fire
Department. All four payments were made in addition to the pass-through of
$12,500 in gambling funds.
8. Electrical Inspection
The electrical inspection budget was increased this year, but was over budget.
This should not be a concern as fees are collected to offset this expense.
9. Animal Control
Animal Control expenditures are higher than budget due to a larger than normal
number of dogs being impounded. We have increased the budget accordingly for
2004, as the trend seems to be continuing.
10. Streets
Street expenses exceed budget due to the pavement management study and the
Mound Trail project. A portion of the Mound Trail project will be recovered
through special assessments.
11. Parks and Recreation
Skate park attendants were not utilized this year, resulting in expenditures below
budget in the programs department.
12. Capital Outlay
The City installed a security system in the City Hall. The expense was capitalized
as it meets our capitalization requirements. We have also purchased a copy
machine and a folding machine. The 21 sl Avenue Project was substantially
completed this year. The public works vehicles will be purchased next year due
to the timing ofthe State contract.
13. Transfers Out
The amount shown represents the debt-related transfers made earlier this year
(city hall lease payment, etc.) This will be the last year for those obligations.
Enterprise Funds
1. Water and Sewer
The Water and Sewer funds show positive net income of $625.445 and $381,642,
respectively. Part of these amounts, $270,641, is due to developer contributions of
infrastructure, which is being recorded under the new GASB rules. The
construction of a water tower and new well over the next two years will
substantially deplete the Water Fund.
Prepared By:
Approved By:
Finance Director
Narrative.doc
Administrator