April 2013 General Fund V�6'� Lf� .��,
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Executive Summary For Action
Golden Valley City Council Meeting
May 21, 2013
Agenda Item
Receipt of April 2013 Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
The monthly financial report provides a progress report of the following funds:
General Fund Operations
Conservation/Recycling Fund (Enterprise Fund)
Water and Sewer Utility Fund (Enterprise Fund)
Brookview Golf Course (Enterprise Fund)
Motor Vehicle Licensing(Enterprise Fund)
Storm Utility Fund (Enterprise Fund)
Equipment Replacement Fund (Capital Projects Fund)
General Fund Operations:
As of April 2013,the City of Golden Valley uses $3,004,880 of fund balance to balance the
General Fund Budget.
Attachments
• April 2013 General Fund Financial Reports- (2 pages)
• April 2013 Conservation/Recycling Fund (1 page)
• April 2013 Water and Sewer Utility Fund (1 page)
• April 2013 Brookview Golf Course (1 page)
• Apri) 2013 Motor Vehicle Licensing(1 page)
• April 2013 Storm Utility Fund (1 page)
• April 2013 Equipment Replacement Fund (1 page)
City of Golden Valley
Monthly Budget Report-General Fund Revenues
April, 2013
Percentage Of Year Completed 33.00%
Over %
2013 April YTD (Under) of Budget
Type Budget Actual Actual Budget Received
Ad Valorem Taxes $11,967,780 9,821 9,821 ($11,957,959) 0.08% (1)
Licenses 191,510 61,135 101,764 ($89,746) 53.14% (2)
Permits 693,200 58,499 308,280 ($384,920) 44.47% (3)
Federal Grants 0 0 0 $0
State Aid 10,500 4,625 4,625 ($5,875) 44.05% (4)
Hennepin County Aid 24,000 0 0 ($24,000) (5)
Charges For Services:
General Government 43,560 1,375 2,257 ($41,303) 5.18%
Public Safety 151,385 6,727 44,284 ($107,101) 29.25%
Public Works 140,000 11,870 41,081 ($98,919) 29.34%
Park&Rec 423,750 62,056 185,483 ($238,267) 43.77%
Other Funds 981,500 56,939 224,559 ($756,941) 22.88%
Fines& Forfeitures 280,000 34,022 107,132 ($172,868) 38.26%
Interest On Investments 100,000 900 900 ($99,100) 0.90% (6)
Miscellaneous Revenue 227,200 17,513 65,610 ($161,590) 28.88%
Transfers In 100,000 8,333 33,333 ($66,667) 33.33% (7)
TOTAL Revenue $15,334,385 $333,815 $1,129,129 ($14,205,256) 7.36%
Notes:
(1) Payments are received in July, December, and January.
(2)Apartments, Pawn and Liquor License revenue were higher than budgeted.
(3) Building permit revenue increased with new home construction.
(4) Police Training is paid in August. Safe and Sober is billed on time spent.
(5) Payment for officer to be part of the Violent Offenders Task Force.
(6) Investment income is allocated at year end.
(7)Transfers are monthly.
City of Golden Valley
Monthly Budget Report-General Fund Expenditures
April, 2013(unaudited)
Over %
2013 April YTD (Under) Of Budget
Division Budget Actual Actual Budqet Expend.
oo� Council $286,185 51,903 117,831 ($168,354) 41.17%
003 City Manager 729,810 53,908 202,259 (527,551) 27.71%
ooa Transfers Out 444,710 0 0 (444,710) 0.00% (1)
005 Admin. Services 1,594,515 69,760 384,099 (1,210,416) 24.09%
oos Legal 135,000 13,289 25,928 (109,072) 19.21% (3)
oo� Risk Management 300,000 0 11,029 (288,971) 3.68% (2)
o�� General Gov't. Bldgs. 525,990 34,196 143,490 (382,500) 27.28%
016 Planning 323,750 23,694 95,680 (228,070) 29.55%
022 Police 4,862,455 395,018 1,535,647 (3,326,808) 31.58%
023 Fire and Inspections 1,591,200 122,945 454,148 (1,137,052) 28.54%
035 Public Works Admin. 321,545 25,082 96,186 (225,359) 29.91%
036 Engineering 668,745 22,638 141,486 (527,259) 21.16%
03� Streets 1,385,115 95,920 416,609 (968,506) 30.08%
065 Community Center 72,910 4,260 15,131 (57,779) 20.75%
066 Park& Rec.Admin. 665,465 50,471 189,467 (475,998) 28.47%
os� Park Maintenance 1,006,895 70,958 238,171 (768,724) 23.65%
oss Recreation Programs 420,095 13,915 66,848 (353,247) 15.91°/a
TOTAL Expenditures $15,334,385 $1,047,957 $4,134,009 ($11,200,376) 26.96%
(1)Transfers will be made in June.
(2) LMCIT quarterly payment has not been billed this year.
(3) Legal bills are billed through March.