January 2014 General Fund city of ,tr, �
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Executive Summary For Action
Golden Valley City Council Meeting
March 4, 2014
Agenda Item
Receipt of January 2014 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 January 2014,the City of Golden Valley uses$657,113 of fund balance to balance the
General Fund Budget.
Attachments
• January 2014 General Fund Financial Reports- (2 pages)
• January 2014 Conservation/Recycling Fund (1 page)
� January 2014 Water and Sewer Utility Fund (1 page)
� January 2014 Brookview Golf Course (1 page)
• January 2014 Motor Vehicle Licensing (1 page)
• January 2014 Storm Utility Fund (1 page)
• January 2014 Equipment Replacement Fund (1 page)
Recommended Action
Motion to receive and file the January 2014 Financial Reports.
City of Golden Valley
Monthly Budget Report-General Fund Revenues
January, 2014
Percentage Of Year Completed 8.00%
Over %
2014 January YTD (Under) of Budget
Tvpe Budqet Actual Actual Budget Received
Ad Valorem Taxes $12,358,005 0 0 ($12,358,005) 0.00% (1)
Licenses 210,785 8,790 8,790 ($201,995) 4.17%
Permits 725,000 185,113 185,113 ($539,887) 25.53%
Federal Grants 31,205 0 0 ($31,205)
StateAid 255,390 1,055 1,055 ($254,335) 0.41% (2)
Hennepin County Aid 0 0 0 $0
Charges For Services:
General Government 45,050 153 153 ($44,897) 0.34%
Public Safety 163,870 4,911 4,911 ($158,959) 3.00%
Public Works 141,000 1,657 1,657 ($139,343) 1.18%
Park&Rec 525,270 16,691 16,691 ($508,579) 3.18°/a
Other Funds 981,500 53,458 53,458 ($928,042) 5.45%
Fines&Forfeitures 320,000 0 0 ($320,000) 0.00%
Interest On Investments 100,000 0 0 ($100,000) 0.00% (3)
Miscellaneous Revenue 227,200 1,559 1,559 ($225,641) 0.69%
Transfers In 100,000 8,333 8,333 ($91,667) 8.33% (4)
TOTAL Revenue $16,184,275 $281,720 $281,720 ($15,902,555) 1.74%
Notes:
(1) Payments are received in July, December, and January.
(2) Police Training will be paid in August. Safe and Sober is billed on time spent.
(3) Investment income is allocated at year end.
(4)Transfers are monthly.
City of Golden Valley
Monthly Budget Report-General Fund Expenditures
January, 2014(unaudited)
Over %
2014 January YTD (Under) Of Budget
Division Budqet Actual Actual Budget Expend.
oo� Council $294,840 20,473 20,473 ($274,367) 6.94%
003 City Manager 762,980 37,766 37,766 (725,214) 4.95%
ooa Transfers Out 294,710 0 0 (294,710) 0.00% (1)
005 Admin. Services 1,676,280 85,293 85,293 (1,590,987) 5.09%
oos Legal 135,000 0 0 (135,000) 0.00% (2)
oo� Risk Management 300,000 3,379 3,379 (296,621) 1.13%
o�� General Gov't. Bldgs. 556,990 5,088 5,088 (551,902) 0.91%
o�s Community Development 997,740 58,361 58,361 (939,379) 5.85%
022 Police 5,202,175 340,084 340,084 (4,862,091) 6.54%
023 Fire and Inspections 1,200,190 95,044 95,044 (1,105,146) 7.92%
035 Public Works Admin. 334,315 21,996 21,996 (312,319) 6.58%
036 Engineering 691,880 22,065 22,065 (669,815) 3.19%
03� Streets 1,429,410 131,187 131,187 (1,298,223) 9.18%
065 Community Center 74,100 2,460 2,460 (71,640) 3.32%
oss Park&Rec.Admin. 679,345 45,698 45,698 (633,647) 6.73%
os� Park Maintenance 1,051,490 55,701 55,701 (995,789) 5.30%
oss Recreation Programs 502,830 14,238 14,238 (488,592) 2.83%
TOTAL Expenditures $16,184,275 $938,833 $938,833 ($15,245,442) 5.80%
(1)This transfer will be made in June, 2014.
(2)January will be billed in February.