June 2013 General Fund ���� �� _ :,
Finance Department
763-593-8013/763-593-8109(fax)
Executive Summary For Action
Goiden Valley City Council Meeting
August 7, 2013
Agenda Item
Receipt of June 2013 Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
The monthly financial report provides a progress report of the fallowing 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 June 2013,the City of Golden Valley uses $5,385,164 of fund balance to balance the
General Fund Budget.
Attachments
• June 2013 General Fund Financial Reports - (2 pages)
• June 2013 Conservation/Recycling Fund (1 page)
• June 2013 Water and Sewer Utility Fund (1 page)
• June 2013 Brookview Golf Caurse (1 page)
• June 2013 Motor Vehicle Licensing (1 page)
� June 2013 Storm Utility Fund (1 page)
• June 2013 Equipment Replacement Fund (1 page)
Recommended Action
Motion to receive and file the April 2013 Financial Reports.
City of Golden Valley
Monthly Budget Report-General Fund Expenditures
June, 2013(unaudited)
Over %
2013 June YTD (Under) Of Budget
Division Budget Actual Actual Budget Expend.
00� Council $286,185 22,360 173,079 ($113,106) 60.48%
003 City Manager 729,810 76,835 338,154 (391,656) 46.33%
ooa Transfers Out 444,710 294,710 294,710 (150,000) 66.27% (1)
005 Admin. Services 1,594,515 160,368 686,147 (908,368) 43.03%
oos Legal 135,000 6,571 38,871 (96,129) 28.79% (2)
oo� Risk Management 300,000 1,405 136,983 (163,017) 45.66%
o�1 General Gov't. Bidgs. 525,990 48,881 257,757 (268,233) 49.00%
0�6 Planning 323,750 33,469 155,100 (168,650) 47.91%
022 Police 4,862,455 543,885 2,429,130 (2,433,325} 49.96%
023 Fire and Inspections 1,591,200 163,919 748,789 (842,411) 47.06%
035 Public Works Admin. 321,545 35,423 158,441 (163,104) 49.27%
036 Engineering 668,745 51,882 261,226 (407,519) 39.06%
03� Streets 1,385,115 105,564 636,464 (748,651) 45.95%
os5 Community Center 72,910 4,551 23,202 (49,708) 31.82%
oss Park& Rec. Admin. 665,465 68,199 305,381 (360,084) 45.89%
os� Park Maintenance 1,006,895 126,875 455,697 (551,198) 45.26%
oss Recreation Programs 420,095 65,094 156,409 (263,686) 37.23%
TOTAL Expenditures $15,334,385 $1,809,991 $7,255,540 ($8,078,845) 47.32%
(1) The remaining $150,000 will be made with a budget adjustment(council resolution later this year).
(2) Legal bills are billed through May.
City of Golden Valley
Monthly Budget Report-General Fund Revenues
June, 2013
Percentage Of Year Completed 50.00%
Over %
2013 June YTD (Under) of Budget
Type Budget Actual Actua� Bud, ec�t _Received
Ad Valorem Taxes $11,967,780 0 9,821 ($11,957,959) 0,08% (1)
Licenses 191,510 20,160 188,464 ($3,046) 98.41% (2)
Permits 693,200 94,415 479,950 ($213,250) 69.24% (3)
Federal Grants 0 5,665 9,315 $9,315
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 1,800 15,012 ($28,548) 34.46%
Public Safety 151,385 9,821 79,837 ($71,548) 52.74%
Public Works 140,000 15,801 71,760 ($68,240) 51.26%
Park& Rec 423,750 65,686 344,863 ($78,887) 81.38%
Other Funds 981,500 61,445 342,268 ($639,232) 34.87%
Fines & Forfeitures 280,000 37,146 174,417 ($105,583) 62.29%
Interest On Investments 100,000 0 900 ($99,100) 0.90% (6)
Miscellaneous Revenue 227,200 16,905 99,144 ($128,056) 43.64%
Transfers In 100,000 8,333 50,000 ($50,000) 50.00% (7)
TOTAL Revenue $15,334,385 $337,177 $1,870,376 ($13,464,009) 12.20%
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 Farce.
(6) Investment income is ailocated at year end.
(7)Transfers are monthly.