November 2013 General Fund ����1 (?� <<.
Finance Department
763-593-8Q13/763-593-8109{fax)
Executive Summary For Action
Golden Valley City Council Meeting
December 17, 2013
Agenda Item
Receipt of November 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 November 2013, the City of Golden Valley uses $3,212,751 of fund balance to balance the
General Fund Budget.
Attachments
• November 2013 General Fund Financial Reports - (2 pages)
• November 2013 Conservation/Recycling Fund (1 page)
• November 2013 Water and Sewer Utility Fund (1 page)
• November 2013 Brookview Golf Course (1 page)
• November 2013 Motor Vehicle Licensing (1 page)
• November 2013 Storm Utility Fund (1 page)
• November 2013 Equipment Replacement Fund (1 page)
Recommended Action
Motion to receive and file the October 2013 Financial Reports.
City of Golden Valley
Monthly Budget Report-General Fund Expenditures
November, 2013 (unaudited)
Over %
2013 November YTD (Under) Of Budget
Division Budget Actual Actual Budget Expend.
oo� Council $286,185 25,568 274,403 ($11,782) 95.88%
003 City Manager 729,810 44,941 569,521 (160,289) 78.04%
ooa Transfers Out 444,710 0 294,710 (150,000) 66.27% (1)
005 Admin. Services 1,594,515 109,204 1,391,073 (203,442) 87.24%
oos Legal 135,000 3,447 61,862 (73,138) 45.82% (2)
oo� Risk Management 300,000 0 262,532 (37,468) 87.51%
o�i General Gov't. Bldgs. 525,990 33,416 488,781 (37,209) 92.93%
016 Planning 323,750 22,539 268,081 (55,669) 82.80%
022 Police 4,862,455 406,506 4,246,262 (616,193) 87.33%
023 Fire and Inspections 1,591,200 133,186 1,433,727 (157,473) 90.10%
035 PublicWorksAdmin. 321,545 27,118 283,541 (38,004) 88.18%
036 Engineering 668,745 58,677 518,041 (150,704) 77.46%
03� Streets 1,385,115 113,213 1,179,194 (205,921) 85.13%
065 Community Center 72,910 5,926 42,636 (30,274) 58.48%
oss Park& Rec. Admin. 665,465 47,596 545,816 (119,649) 82.02%
os� Park Maintenance 1,006,895 72,659 875,257 (131,638) 86.93%
os8 Recreation Programs 420 095 6,407 473 370 53,275 112.68%
TOTAL Expenditures $15 334,385 $1 110 403 $13,208,807 ($2,125,578) 86.14%
(1)The remaining$150,000 will be made with a budget adjustment(council resolution later this year).
(2) Legal bills are billed through October.
City of Golden Valley
Monthly Budget Report-General Fund Revenues
November, 2013
Percentage Of Year Completed 91.60%
Over %
2013 November YTD (Under) of Budget
Type Bud_et Actual Actual Budget Received
Ad Valorem Taxes $11,967,780 0 6,212,303 ($5,755,477) 51.91% (1)
Licenses 191,510 4,350 233,594 $42,084 121.97% (2)
Permits 693,200 117,390 1,177,424 $484,224 169.85% (3)
Federal Grants 0 0 14,350 $14,350
StateAid 10,500 4,777 40,143 $29,643 382.31% (4)
Hennepin County Aid 24,000 0 11,521 ($12,479) (5)
Charges For Services:
General Government 43,560 125 35,766 ($7,794) 82.11%
Public Safety 151,385 3,336 132,628 ($18,757) 87.61%
Public Works 140,000 4,080 127,166 ($12,834) 90.83%
Park& Rec 423,750 18,276 568,363 $144,613 134.13%
Other Funds 981,500 64,279 832,643 ($148,857) 84.83%
Fines& Forfeitures 280,000 26,178 319,613 $39,613 114.15%
Interest On Investments 100,000 0 900 ($99,100) 0.90% (6)
Miscellaneous Revenue 227,200 15,830 197,975 ($29,225) 87.14%
Transfers In 100,000 8,333 91,667 ($8,333) 91.67% (7)
TOTAL Revenue $15,334,385 $266,954 $9,996,056 ($5,338,329) 65.19%
Notes:
(1) Payments are received in July, pecember, 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 was 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.