April 2014 General Fund ci�yof
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763 593 8013/763 593 8109(fax)
Executive Summary For Action
Golden Valley City Council Meeting
May 20, 2014
Agenda Item
Receipt of April 2014 Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
The monthly financial report provides a progress report of the following funds:
Genera) 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 2014, the City of Golden Valley uses $3,189,762 of fund balance to balance the
General Fund Budget.
Attachments
• April 2014 General Fund Financial Reports - (2 pages)
• April 2014 Conservation/Recycling Fund (1 page)
• April 2014 Water and Sewer Utility Fund (1 page)
• April 2014 Brookview Golf Course (1 page)
• April 2014 Motor Vehicle Licensing (1 page)
• April 2014 Storm Utility Fund (1 page)
• April 2014 Equipment Replacement Fund (1 page)
Recommended Action
Motion to receive and file the April 2014 Financial Reports.
City of Golden Valley
Monthly Budget Report-General Fund Revenues
April, 2014
Percentage Of Year Completed 33.00%
Over %
2014 April YTD (Under) of Budget
Tvpe Budget Actual Actual Budget Received
Ad Valorem Taxes $12,358,005 9,821 9,821 ($12,348,184) 0.08% (1)
Licenses 210,785 55,675 109,101 ($101,684) 51.76%
Permits 725,000 81,058 471,764 ($253,236) 65.07%
Federal Grants 31,205 0 7,500 ($23,705) 24.03%
StateAid 255,390 590 1,077 ($254,313) 0.42% (2)
Hennepin County Aid 0 0 0 $0
Charges For Services:
General Government 45,050 1,950 3,767 ($41,283) 8.36%
Public Safety 163,870 8,443 42,068 ($121,802) 25.67%
Public Works 141,000 13,359 40,279 ($100,721) 28.57%
Park& Rec 525,270 27,219 110,522 ($414,748) 21.04%
Other Funds 981,500 112,125 277,982 ($703,518) 28.32°/a
Fines & Forfeitures 320,000 28,922 80,247 ($239,753) 25.08% (5)
Interest On Investments 100,000 0 0 ($100,000) 0.00% (3)
Miscellaneous Revenue 227,200 29,679 76,441 ($150,759) 33.64%
Transfers In 100 000 16,667 41,667 ($58,333) 41.67% (4)
TOTAL Revenue $16,184,275 $385,508 $1,272,236 ($14,912,039) 7.86%
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.
(5) Payments are through March 2014.
City of Golden Valley
Monthly Budget Report-General Fund Expenditures
April, 2014 (unaudited)
Over %
2014 March YTD (Under) Of Budget
Division Budqet Actual Actual Budget Expend.
001 Council $294,840 45,037 106,588 ($188,252) 36.15%
003 City Manager 762,980 44,914 176,077 (586,903) 23.08%
ooa Transfers Out 294,710 0 0 (294,710) 0.00% (1)
005 Admin. Services 1,676,280 163,546 460,755 (1,215,525) 27.49%
oos Legal 135,000 8,088 25,146 (109,854) 18.63% (2)
oo� Risk Management 300,000 130,094 135,102 (164,898) 45.03%
o�� General Gov't. Bldgs. 556,990 59,613 165,859 (391,131) 29.78%
o1s Community Development 997,740 73,374 278,447 (719,293) 27.91%
022 Police 5,202,175 387,087 1,477,868 (3,724,307) 28.41%
023 Fire 1,200,190 96,496 362,112 (838,078) 30.17%
035 Public Works Admin. 334,315 21,938 96,794 (237,521) 28.95%
036 Engineering 691,880 43,243 152,426 (539,454) 22.03%
03� Streets 1,429,410 110,389 467,873 (961,537) 32.73°/a
os5 Community Center 74,100 5,692 16,471 (57,629) 22.23%
066 Park& Rec. Admin. 679,345 47,237 192,844 (486,501) 28.39%
06� Park Maintenance 1,051,490 105,591 291,089 (760,401) 27.68%
068 Recreation Programs 502,830 11 105 56,547 (446,283) 11.25%
TOTAL Expenditures $16,184 275 $1,353,444 $4,461,998 ($11,722,277) 27.57%
(1)This transfer will be made in June, 2014.
(2) Legal services are through March.