May 2013 General Fund L:l�� (�,�.
Finance Department
763-593-8013/763-593-8109(fax)
Executive Summary For Action
Golden Valley City Cauncil Meeting
June 18, 2013
Agenda Item
3. G. Receipt of May 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 May 2013, the City uses $3,895,866 of fund balance to balance
the General Fund Budget,
Attachments
• May 2013 Genera) Fund Financial Reports - unaudited (2 pages)
• May 2013 Conservation/Recycling Fund Financial Report- unaudited (1 page)
• May 2013 Water and Sewer Utility Fund Financial Report- unaudited (1 page)
• May 2013 Brookview Golf Course Fund Financial Report - unaudited (1 page)
• May 2013 Motor Vehicle Licensing Fund Financial Report - unaudited (1 page)
• May 2013 Storm Utility Fund Financial Report- unaudited (1 page)
• May 2013 Equipment Replacement Fund Report (1 page)
Recommended Action
Motion to receive and file the May 2013 Financial Reports.
City of Golden Valley
Monthly Budget Report-General Fund Revenues
May, 2013
Percentage Of Year Completed 42.00%
Over %
2013 May YTD (Under) of Budget
Type Budget Actual Actual Budget Received
Ad Valorem Taxes $11,967,780 0 9,821 ($11,957,959) 0.08% (1)
Licenses 191,510 66,540 168,304 ($23,206) 87.88% (2)
Permits 693,200 77,256 385,535 ($307,665) 55.62% (3)
Federal Grants 0 3,750 3,750 $3,750
State Aid 10,500 0 4,625 ($5,875) 44.05% (4)
Hennepin County Aid 24,000 0 0 ($24,000) (5)
Charges For Services:
General Government 43,560 10,961 13,212 ($30,34$) 30.33%
Public Safety 151,385 25,722 70,016 ($81,369) 46.25%
Public Works 140,000 14,848 55,959 ($84,041) 39.97%
Park& Rec 423,750 93,693 279,176 ($144,574) 65.88%
Other Funds 981,500 56,263 280,823 ($700,677) 28.61%
Fines & Forfeitures 280,000 30,139 137,271 ($142,729) 49.03%
Interest On Investments 100,000 0 900 ($99,100) 0.90% (6)
Miscellaneous Revenue 227,200 16,452 81,822 ($145,378) 36.01%
Transfers In 100,000 8,333 41,867 ($58,133) 41.87% (7)
TOTAL Revenue $15,334,385 $403,957 $1,533,081 ($13,801,304) 10.00%
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
May, 2013 (unaudited)
Over %
2013 May YTD (Under) Of Budget
Division Budget Actual Actual Budget Expend.
oo� Council $286,185 32,887 150,719 ($135,466) 52.66%
003 City Manager 729,810 58,561 260,820 (468,990) 35.74%
ooa Transfers Out 444,710 0 0 (444,710) 0.00% (1)
005 Admin. Services 1,594,515 141,686 525,779 (1,068,736) 32.97%
oos Legal 135,000 6,627 32,555 (102,445) 24.11% (2)
oo� Risk Management 300,000 124,549 135,578 (164,422) 45.19%
o�� General Gov't. Bldgs. 525,990 65,386 208,876 (317,114) 39.71%
0�6 Planning 323,750 25,951 121,631 (202,119) 37.57%
022 Police 4,862,455 349,596 1,885,245 (2,977,210) 38.77%
023 Fire and Inspections 1,591,200 130,932 584,870 (1,006,330) 36.76%
035 Public Works Admin. 321,545 26,832 123,018 (198,527) 38.26%
o3s Engineering 668,745 67,861 209,347 (459,398) 31.30%
03� Streets 1,385,115 97,930 514,539 (870,576) 37.15%
065 Community Center 72,910 3,520 18,651 (54,259) 25.58%
066 Park& Rec. Admin. 665,465 47,716 237,182 (428,283) 35.64%
os� Park Maintenance 1,006,895 90,651 328,$22 (678,073) 32.66%
068 Recreation Programs 420 095 24,467 91,315 (328,780) 21.74%
TOTA� Expenditures $15 334,385 $1,295,152 $5,428,947 ($9,905,438) 35.40%
(1) Transfers will be made in June.
(2) Legal biils are billed through April.