HomeMy WebLinkAboutItem 03.ci
FINANCIAL HIGHLIGHTS:
The following financial report and analysis offers readers a narrative overview of the financial
activities of the City for the nine month period ended September 30, 2015. This report includes the
General Fund, Communications Fund, Liquor Fund and Utility Operating Funds. The readers are
encouraged to consider the information presented here in conjunction with the unaudited financial
statements attached to this report, the adopted budget and the five year Capital Improvement Plan.
General Fund - Revenues
Property tax revenues
• Tax payments from Dakota County are received in two annual installments in June and
December. The General fund received $9.2 million in property tax revenues for the first
half of 2015. Revenues are anticipated to be $17.8 million for 2015.
Licenses and Permits.
• Building permit revenue continues to be strong exceeding 2014 by 30.0 percent. During
the first nine months of 2015, one new industrial and ten new commercial permits were
issued with a combined valuation of $21.5 million. 292 New residential building permits
were issued through the third quarter which is up compared to 237 during the same
period last year. The 2015 Budget reflects 300 single family and 17 townhouse and three
commercial/industrial permits.
Intergovernmental.
• Police and Fire state aid payments were received September. Police state aid amounted
to $389,000 which is a 2.1 percent decrease from 2014. The aid is based on the number
of FTE during the year which was lower due to a number of vacancies. Fire state aid
amounted to $336,000 and increased $30,000 or 9.7 percent over 2014.
Charges for Services.
• General government services are exceeding budget due largely to increases in planning
activities related to new development plans.
• Public works revenues for engineering related services in connection with developer
construction administration have already exceeded budget expectations by $243,000. In
addition, revenues of $700,000 have been recognized from City improvement projects.
• Parks and Recreation revenues are constant with budget and the prior year.
ii
FINANCIAL HIGHLIGHTS (continued):
General Fund - Revenues (Continued)
Court Fines
• Revenues from court fines are showing a significant increase over this period last year
due to filling vacant positions allowing increased police patrols.
General Fund - Expenditures
Motor Fuels – Motor fuels through September 30, are at 65 percent of the 2015 Budget due
mainly to the fewer snow events for the Streets Department. All other departments are
operating slightly below the same period in 2014, but are in line with budget estimates.
Utilities – Natural Gas. Due to the milder temps (specifically March), all municipal building
are realizing significant savings over the same period 2014.
Inspections . The department is exceeding budget appropriations due to adding an additional
inspector as well as increased contractual electrical inspections resulting from the growth in
construction.
Finance. Personnel services were impacted by the retirement of the Finance Director at the
end of February. A portion of the overage is offset with the delay in filling the position.
Police Department. Personnel services are showing an increase over the same period last
year as the department filled vacant positions as well as realizing a full year for positions
created during the 2014 reorganization. Overall, personnel expenditures are tracking with
budget.
Fire Department. 2015 personnel services are up over the same period last year due to the
addition of the Assistant Fire Chief. The number of fire calls is consistent with prior year.
Engineering Department. Personnel services are trailing budget as a result of the delay in
hiring of the Graduate Engineer position until mid-year 2015.
iii
FINANCIAL HIGHLIGHTS (continued):
General Fund - Expenditures (continued)
Operations & Maintenance. Personnel services are exceeding budget estimates due to
overtime during construction season. Employee costs are charged against specific projects.
The Operations and Maintenance division was created in late July 2014 and therefore the
comparisons with 2014 are skewed. Capital acquisitions consist of two new Ford Escapes
placed into service in May.
Streets. As a result of the fewer snow events during the first quarter of 2015, the
department’s expenditures continue to trail expenditures in 2012, 2013 and 2014 through
the first nine months of 2015.
Parks. Personnel services are in line with budget appropriations, but are higher than 2014
due to increased hours for the exceptional rink season in 2015, and offset by decreased
hours dedicated to the Streets Department for snow removal. Other charges and services are
up over 2014 due to the Pioneer Plaza major maintenance project ($61,000) and sealcoating
of park lots ($11,000).
Heritage Center. Personnel services are up slightly over budget due to increases in Heritage
Center rentals which require additional hours for the part-time Facility Attendant.
Recreation/Arts Center. Expenditures are in line with budget appropriations as the Recreation
department finished up their busy summer schedule and the Arts Center starts their busy
holiday schedule.
Communications Fund
Attorney fees were originally budgeted at $160,000 for 2015. However, due to the delay in
negotiating the cable TV franchise agreement the estimate was reduced to $40,000.
Capital outlay acquisitions include replacement of the van, upgrades to the council chamber
audio system and replacement of studio equipment. All acquisitions were within or below
budget appropriations.
iv
FINANCIAL HIGHLIGHTS (continued):
Liquor Fund
September 2015 marks the one-year anniversary of the opening of Total Wine in Burnsville.
Gross profit through September 2015 amounted to $2.5 million and is $379,000 below the
gross profit at this time last year. At this time, gross profit is estimated to be approximately
$300,000 below budget at year ending 2015.
Expenditures are tracking slightly below budget as the department works at reducing costs to
offset the loss in sales. The lighting upgrades at Heritage and Kenrick are completed
($23,400). The store remodel at Heritage ($53,000 less reimbursement of $36,000 from the
building owner) has also been completed in 2015.
Water Fund
Due to the consistent rain received in spring and summer water usage is down through the
third quarter. Many expenses such as electrical cost to run pumps and chemicals used to
treat the water are also down as a result of the lower water usage.
The reroofing of the Water Treatment Facility contract was awarded in September 2015 at
$311,300, well below the $661,000 budget.
Water main repair/replacement costs are at $2.4 million of the $7.0 million budget. The
budget includes both phase I and phase II of the 2015 street reconstruction project which will
be expended over a two-year period. The budget for phase II will be re-appropriated to the
2016 Major Maintenance budget.
Sewer Fund
Sewer revenues are slightly below budget expectations due to a 2.5 percent reduction in the
number of gallons billed the first three quarters of 2015 vs. 2014.
Expenditures are consistent with prior year. However 2015 expenses are below budget
expectations as the number of repairs is lower than anticipated. Major maintenance project
costs are generally incurred in the fall.
v
FINANCIAL HIGHLIGHTS (continued):
Street Lighting Fund
Revenues are slightly ahead of budget. Street light fees are also collected at the time of final
plat accounting for $28,700 in revenues through September.
2015 expenditures included $125,000 for the Kensington Avenue light replacement which
corresponded with the street reconstruction project.
Environmental Resources Fund
Revenues are slightly ahead of budget. Revenues are also collected at the time of final plat
accounting for $27,000 in revenues through September.
A number of projects are still in process and have not been billed to the City through the end
of the third quarter resulting in a significant budget to actual variance.
Unaudited
2015 2015 Variance from Variance from
Adopted Amended 9/30/2015 Amended Budget Actual 9/30/2014 2014 Actual
Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Revenues
General property taxes 17,811,502 $ 17,811,502 $ 9,179,225 $ (8,632,277) $ 51.5% 8,673,251 $ 505,974 $
Licenses and permits 1,968,416 1,968,416 1,998,584 30,168 101.5% 1,588,130 410,454
Intergovernmental 827,661 827,661 837,151 9,490 101.1% 773,483 63,668
Charges for services 2,939,577 2,939,577 2,606,485 (333,092) 88.7% 1,553,798 1,052,687
Court fines 288,001 288,001 273,286 (14,715) 94.9% 182,138 91,148
Investment income 40,376 40,376 30,049 (10,327) 74.4% 27,353 2,696
Miscellaneous 46,145 46,145 46,614 469 101.0% 26,346 20,268
Total revenues 23,921,678 23,921,678 14,971,394 (8,950,284) 62.6% 12,824,499 2,146,895
Expenditures
Mayor and Council 97,411 97,411 84,307 13,104 86.5% 81,769 (2,538)
Committees and Commissions 71,096 71,096 61,344 9,752 86.3% 61,807 463
City Administration 414,285 414,285 297,264 117,022 71.8% 311,175 13,912
City Clerk 127,401 127,401 94,588 32,813 74.2% 122,617 28,029
Legal Counsel 82,351 82,351 51,511 30,840 62.6% 41,671 (9,840)
Planning 429,809 429,809 325,480 104,330 75.7% 316,812 (8,668)
Community and Econ. Development 300,526 300,526 199,810 100,716 66.5% 186,337 (13,473)
Inspections 854,922 854,922 667,951 186,971 78.1% 651,756 (16,195)
General Government Facilities 433,123 433,123 308,299 124,824 71.2% 305,991 (2,308)
Finance 665,298 665,298 538,358 126,940 80.9% 485,102 (53,256)
Information Systems 530,931 530,931 412,552 118,379 77.7% 395,340 (17,212)
Human Resources 378,472 378,472 337,047 41,425 89.1% 251,755 (85,292)
Insurance 322,100 322,100 241,575 80,525 75.0% 216,806 (24,769)
Police 9,211,309 9,254,903 6,866,044 2,388,859 74.2% 6,396,627 (469,417)
Fire 1,639,147 1,639,147 1,258,511 380,636 76.8% 1,070,443 (188,068)
Engineering 712,273 712,273 498,087 214,186 69.9% 621,040 122,953
Operations and Maintenance 553,796 553,796 427,927 125,869 77.3% 68,701 (359,226)
Streets 2,994,209 2,994,209 1,964,265 1,029,944 65.6% 2,208,674 244,409
Parks 2,388,645 2,388,645 1,827,226 561,419 76.5% 1,690,891 (136,335)
Recreation 608,476 608,476 458,484 149,993 75.3% 512,142 53,659
Heritage Center 104,516 104,516 59,810 44,706 57.2% 48,708 (11,102)
Arts Center 448,505 448,505 319,035 129,470 71.1% 316,462 (2,573)
Other 105,000 105,000 - 105,000 0.0% - -
Total expenditures 23,473,601 23,517,195 17,299,474 6,217,721 73.6% 16,362,626 (936,848)
Excess (deficiency) of revenues
over expenditures 448,077 404,483 (2,328,080) (2,732,563) (3,538,127) 1,210,047
Other financing sources (uses)
Transfer from other funds 809,935 809,935 628,348 (181,587) 77.6% 569,861 58,487
Transfer to other funds (727,000) (1,612,000) (1,612,000) - 100.0% - (1,612,000)
Total other financing sources (uses) 82,935 (802,065) (983,652) (181,587) 569,861 (1,553,513)
Net change in fund balance 531,012 (397,582) (3,311,732) (2,914,150) (2,968,266) (343,466)
Beginning fund balance 9,754,037 11,071,769 11,071,769 - 9,666,560 1,405,209
Ending fund balance 10,285,049 $ 10,674,187 $ 7,760,037 $ (2,914,150) $ 6,698,294 $ 1,061,743 $
Net change in fund balance percentage 5.4% (3.6%) (29.9%) (30.7%)
Ratio: Fund balance to CY expenditures 43.8% 45.4% 44.9% 40.9%
General Fund
Summary Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2015
Comparative
1
Unaudited
General Fund
Schedule of Expenditures
2015 2015 Variance from Variance from
Adopted Amended 9/30/2015 Amended Budget Actual 9/30/2014 2014 Actual
Expenditures Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Mayor and Council
Personnel services 49,776 $ 49,776 $ 37,384 $ 12,392 $ 75% 37,399 $ 15 $
Commodities 50 50 - 50 0% - -
Other charges and services 47,585 47,585 46,923 662 99% 44,370 (2,553)
Total 97,411 97,411 84,307 13,104 87% 81,769 (2,538)
Committees/Commissions
Personnel services 57,336 57,336 45,543 11,793 79% 45,981 438
Commodities 1,530 1,530 2,372 (842) 155% 2,522 150
Other charges and services 12,230 12,230 13,429 (1,199) 110% 13,304 (125)
Total 71,096 71,096 61,344 9,752 86% 61,807 463
City Administration
Personnel services 395,760 395,760 278,715 117,046 70% 300,660 21,946
Commodities 734 734 208 526 28% 470 262
Other charges and services 17,791 17,791 14,352 3,439 81% 10,045 (4,307)
Capital outlay - - 3,989 (3,989) 0% - (3,989)
Total 414,285 414,285 297,264 117,022 72% 311,175 13,912
City Clerk
Personnel services 104,429 104,429 80,742 23,687 77% 78,109 (2,633)
Commodities 282 282 58 224 21% 108 50
Other charges and services 22,690 22,690 13,788 8,902 61% 44,400 30,612
Total 127,401 127,401 94,588 32,813 74% 122,617 28,029
Legal Counsel
Other charges and services 82,351 82,351 51,511 30,840 63% 41,671 (9,840)
Planning
Personnel services 406,215 406,215 304,946 101,270 75% 292,136 (12,810)
Commodities 2,248 2,248 1,229 1,019 55% 1,459 230
Other charges and services 21,346 21,346 18,889 2,457 88% 22,048 3,159
Capital outlay - - 416 (416) 0% 1,169 753
Total 429,809 429,809 325,480 104,330 76% 316,812 (8,668)
Community and Economic Development
Personnel services 266,506 266,506 185,534 80,972 70% 175,423 (10,111)
Commodities 192 192 105 87 55% 180 75
Other charges and services 33,248 33,248 13,871 19,377 42% 10,734 (3,137)
Capital outlay 580 580 300 280 52% - (300)
Total 300,526 300,526 199,810 100,716 66% 186,337 (13,473)
Inspection
Personnel services 674,114 674,114 529,730 144,384 79% 485,172 (44,558)
Commodities 10,255 10,255 8,864 1,391 86% 6,998 (1,866)
Other charges and services 169,303 169,303 126,870 42,433 75% 136,178 9,308
Capital outlay 1,250 1,250 2,487 (1,237) 199% 23,408 20,921
Total 854,922 854,922 667,951 186,971 78% 651,756 (16,195)
(continued)
Comparative
2
Unaudited
General Fund
Schedule of Expenditures
2015 2015 Variance from Variance from
Adopted Amended 9/30/2015 Amended Budget Actual 9/30/2014 2014 Actual
Expenditures (continued) Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
General Government Facilities
Personnel services 204,108 $ 204,108 $ 163,678 $ 40,430 $ 80% 161,930 $ (1,748) $
Commodities 22,084 22,084 9,809 12,275 44% 12,823 3,014
Other charges and services 206,931 206,931 134,812 72,119 65% 131,238 (3,574)
Total 433,123 433,123 308,299 124,824 71% 305,991 (2,308)
Finance
Personnel services 568,092 568,092 469,111 98,981 83% 425,102 (44,009)
Commodities 5,034 5,034 2,455 2,579 49% 3,326 871
Other charges and services 74,004 74,004 62,626 11,378 85% 56,674 (5,952)
Capital outlay 18,168 18,168 4,166 14,002 23% - (4,166)
Total 665,298 665,298 538,358 126,940 81% 485,102 (53,256)
Information Systems
Personnel services 311,448 311,448 239,236 72,212 77% 228,322 (10,914)
Commodities 5,847 5,847 3,448 2,399 59% 1,906 (1,542)
Other charges and services 213,636 213,636 168,999 44,637 79% 165,112 (3,887)
Capital outlay - - 869 (869) 0% - (869)
Total 530,931 530,931 412,552 118,379 78% 395,340 (17,212)
Human Resources
Personnel services 294,193 294,193 244,386 49,807 83% 199,961 (44,425)
Commodities 2,577 2,577 1,871 706 73% 673 (1,198)
Other charges and services 81,122 81,122 85,150 (4,028) 105% 51,121 (34,029)
Capital outlay 580 580 5,640 (5,060) 972% - (5,640)
Total 378,472 378,472 337,047 41,425 89% 251,755 (85,292)
Insurance
Other charges and services 322,100 322,100 241,575 80,525 75% 216,806 24,769
Police
Personnel services 7,156,691 7,156,691 5,256,730 1,899,961 73% 4,834,796 (421,934)
Commodities 342,976 343,796 282,722 61,074 82% 279,564 (3,158)
Other charges and services 1,711,642 1,715,817 1,270,280 445,537 74% 1,278,250 7,970
Capital outlay - 38,599 56,312 (17,713) 146% 4,017 (52,295)
Total 9,211,309 9,254,903 6,866,044 2,388,859 74% 6,396,627 (469,417)
Fire
Personnel services 886,045 886,045 639,669 246,376 72% 484,594 (155,075)
Fire Relief Contribution/State Aid 315,515 315,515 342,889 (27,374) 109% 342,542 (347)
Commodities 150,568 150,568 93,322 57,246 62% 72,806 (20,516)
Other charges and services 287,019 287,019 182,631 104,388 64% 170,501 (12,130)
Total 1,639,147 1,639,147 1,258,511 380,636 77% 1,070,443 (188,068)
(continued)
Comparative
3
Unaudited
General Fund
Schedule of Expenditures
2015 2015 Variance from Variance from
Adopted Amended 9/30/2015 Amended Budget Actual 9/30/2014 2014 Actual
Expenditures (continued) Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Engineering
Personnel services 604,526 $ 604,526 $ 431,618 $ 172,908 $ 71% 479,271 $ 47,653 $
Commodities 9,274 9,274 3,983 5,291 43% 5,431 1,448
Other charges and services 86,891 86,891 42,565 44,326 49% 72,287 29,722
Capital outlay 11,582 11,582 19,921 (8,339) 172% 64,051 44,130
Total 712,273 712,273 498,087 214,186 70% 621,040 122,953
Operations and Maintenance
Personnel services 437,398 437,398 347,722 89,676 79% 49,094 (298,628)
Commodities 4,870 4,870 5,102 (232) 105% 962 (4,140)
Other charges and services 15,828 15,828 8,645 7,183 55% 3,313 (5,332)
Capital outlay 95,700 95,700 66,458 29,242 69% 15,332 (51,126)
Total 553,796 553,796 427,927 125,869 77% 68,701 (359,226)
Streets
Personnel services 1,840,324 1,840,324 1,256,964 583,360 68% 1,273,617 16,653
Commodities 830,911 830,911 484,546 346,365 58% 646,991 162,445
Other charges and services 322,974 322,974 222,755 100,219 69% 288,066 65,311
Capital outlay - - - - 0% - -
Total 2,994,209 2,994,209 1,964,265 1,029,944 66% 2,208,674 244,409
Parks
Personnel services 1,616,595 1,616,595 1,247,803 368,792 77% 1,169,444 (78,359)
Commodities 271,081 271,081 204,840 66,241 76% 207,148 2,308
Other charges and services 500,969 500,969 374,583 126,386 75% 314,299 (60,284)
Total 2,388,645 2,388,645 1,827,226 561,419 76% 1,690,891 (136,335)
Recreation
Personnel services 348,735 348,735 259,453 89,283 74% 296,225 36,773
Commodities 25,146 25,146 16,579 8,567 66% 15,592 (987)
Other charges and services 215,096 215,096 179,764 35,332 84% 200,325 20,561
Capital outlay 19,499 19,499 2,688 16,811 14% - (2,688)
Total 608,476 608,476 458,484 149,993 75% 512,142 53,659
Heritage Center
Personnel services 32,779 32,779 27,192 5,587 83% 14,406 (12,786)
Commodities 12,388 12,388 3,915 8,473 32% 4,292 377
Other charges and services 56,892 56,892 28,703 28,189 50% 19,397 (9,306)
Capital outlay 2,457 2,457 - 2,457 0% 10,613 10,613
Total 104,516 104,516 59,810 44,706 57% 48,708 (11,102)
Arts Center
Personnel services 254,081 254,081 178,713 75,368 70% 185,754 7,041
Commodities 16,010 16,010 15,796 214 99% 9,582 (6,214)
Other charges and services 173,974 173,974 124,180 49,794 71% 121,126 (3,054)
Capital outlay 4,440 4,440 346 4,094 8% - (346)
Total 448,505 448,505 319,035 129,470 71% 316,462 (2,573)
Comparative
4
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Revenues
Licenses franchise fee 652,413$ 498,425$ (153,988)$ 76.4%
EG Fees 66,175 46,415 (19,760) 70.1%
Intergovernmental State aid 516 258 (258) 50.0%
Investment income 2,530 3,689 1,159 145.8%
Total revenues 721,634 548,787 (172,847) 76.0%
Expenditures - General government
Personnel services 337,013 257,775 79,238 76.5%
Commodities 3,352 2,416 936 72.1%
Other charges and services A. 249,402 61,701 187,701 24.7%
Capital outlay 78,451 76,729 1,722 97.8%
Total expenditures 668,218 398,621 269,597 59.7%
Excess (deficiency) of revenues over expenditures 53,416 150,165 96,749 281.1%
Other financing (uses) - Transfers
To General Fund (152,933) (114,700) 38,233 75.0%
To Equipment Fund (495,000) (495,000) - 100.0%
Total other financing (uses)(647,933) (609,700) 38,233 94.1%
Net change in fund balance (594,517) (459,535) 134,982
Beginning fund balance 781,543 894,276 112,733
Ending fund balance 187,026$ 434,741$ 247,715$
A. 2015 Attorney Fees budgeted at $160,000. YTD through the 3rd Quarter is $6,069
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2015
Special Revenue - Communications Fund
5
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Sales and cost of sales
Sales 14,764,135$ 9,782,886$ (4,981,249)$ 66.3%
Cost of sales 11,093,360 7,281,968 3,811,392 65.6%
Gross profit 3,670,775 2,500,918 (1,169,857) 68.1%
Operating expenses
Personnel services 1,288,667 957,015 331,653 74.3%
Commodities 66,420 35,157 31,263 52.9%
Other charges and services 875,561 641,307 234,254 73.2%
Depreciation 118,997 89,248 29,749 75.0%
Total operating expenses 2,349,645 1,722,726 626,919 73.3%
Operating income 1,321,130 778,192 (542,938) 58.9%
Non-operating revenue (expense)
Investment income 19,800 18,975 (825) 95.8%
Miscellaneous 7,500 2,338 (5,162) 31.2%
Interest and bond expense (144,346) (108,260) 36,087 75.0%
Transfers in (out)
General Fund (165,173) (123,880) 41,293 75.0%
Debt Service:
Property Taxes Fund (400,000) (400,000) - 100.0%
Capital Projects:
Equipment Fund (825,812) (825,812) - 100.0%
Enterprise Fund:
Environmental Resources - Recycling (874) (1,557) (683) 178.1%
Total non-operating (net)(1,508,905) (1,438,195) 70,710 95.3%
Change in net position (187,775) (660,003) (472,228)
Beginning net position 5,411,228 5,521,329 110,101
Ending net position 5,223,453$ 4,861,326$ (362,127)$
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2015
Enterprise - Liquor Fund
6
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Operating revenues
User charges for services 3,423,662 $ 2,072,729 $ (1,350,933) $ 60.5%
Other 164,003 191,533 27,530 116.8%
Total operating revenue 3,587,665 2,264,262 (1,323,403) 63.1%
Operating expenses
Personnel services 986,129 780,903 205,226 79.2%
Commodities 366,252 222,012 144,240 60.6%
Other charges and services 1,254,657 669,604 585,053 53.4%
Major Maintenance 8,322,333 2,644,998 5,677,335 31.8%
Total operating expenses 10,929,371 4,317,516 6,611,855 39.5%
Operating income (loss) (7,341,706) (2,053,254) 5,288,452
Non-operating revenue (expense)
Intergovernmental 1,632 816 (816) 50.0%
Investment income 28,988 21,741 (7,247) 75.0%
Infrastructure contributed 604,082 - (604,082) 0.0%
Disposal of assets 4,500 - (4,500) 0.0%
Depreciation (2,160,956) (1,620,717) 540,239 75.0%
Transfers in (out) (146,652) (109,989) 36,663 75.0%
Total non-operating (net) (1,668,406) (1,708,149) (39,743) 102.4%
Change in net position (9,010,112) (3,761,403) 5,248,709
Beginning net position 69,723,599 73,524,282 3,800,683
Ending net position 60,713,487 $ 69,762,879 $ 9,049,392 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2015
Enterprise - Utility Fund Water Operation
7
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Operating revenue
User charges for services 4,966,743 $ 3,453,951 $ (1,512,792) $ 69.5%
Operating expenses
Personnel services 711,807 517,228 194,579 72.7%
Commodities 88,484 43,974 44,510 49.7%
Other charges and services 303,401 145,966 157,435 48.1%
Disposal charges 3,253,486 2,440,116 813,370 75.0%
Major maintenance projects 460,270 167,677 292,593 36.4%
Total operating expenses 4,817,448 3,314,961 1,502,487 68.8%
Operating income (loss) 149,295 138,990 (10,305)
Non-operating revenue (expense)
Intergovernmental State aid 1,632 816 (816) 50.0%
Investment income 18,187 13,640 (4,547) 75.0%
Infrastructure contributed 469,142 - (469,142) 0.0%
Disposal of assets 4,500 - (4,500) 0.0%
Depreciation (1,248,027) (936,020) 312,007 75.0%
Transfers in (out) (131,165) (98,374) (32,791) 75.0%
Total non-operating (net) (885,731) (1,019,938) (134,207) 115.2%
Change in net position (736,436) (880,947) (144,511)
Beginning net position 38,477,897 40,623,982 2,146,085
Ending net position 37,741,461 $ 39,743,035 $ 2,001,574 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2015
Enterprise - Utility Fund Sanitary Sewer Operation
8
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Operating revenue
User charges for services 739,621$ 579,807$ (159,814)$ 78.4%
Operating expenses
Personnel services 18,238 8,955 9,283 49.1%
Commodities 31 - 31 0.0%
Other charges and services 778,005 583,353 194,652 75.0%
Total operating expenses 796,274 592,308 203,966 74.4%
Operating income (loss)(56,653) (12,501) 44,152
Non-operating revenue (expense)
Investment income 499 1,034 535 207.1%
Transfers in (out) - General Fund (3,568) (2,676) 892 75.0%
Total non-operating (net)(3,069) (1,642) 1,427 53.5%
Change in net position (59,722) (14,144) 45,578
Beginning net position 245,502 254,699 9,197
Ending net position 185,780$ 240,555$ 54,775$
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2015
Enterprise - Utility Fund Street Light Operation
9
Unaudited
2015 Percent
Adopted of
Budget Actual Variance Budget
Revenues
User charges for services 694,606 $ 574,374 $ (120,232) $ 82.7%
Charges for services - Recycling 2,500 2,850 350 114.0%
Total revenues 697,106 577,224 (450,416) 82.8%
Expenditures - Public works
Personnel services 245,258 177,453 67,805 72.4%
Commodities 26,187 28,999 (2,812) 110.7%
Other charges and services 530,457 138,368 392,089 26.1%
Major maintenance/capital outlay - 1,542 (1,542) 0.0%
Total expenditures 801,902 346,362 455,540 43.2%
Excess (deficiency) of revenues over expenditures (104,796) 230,862 335,658
Non-operating revenue (expense)
Intergovernmental 44,892 52,146 7,254 116.2%
Investment income 3,812 3,871 59 101.5%
Transfers in (out)
General Fund (141,377) (126,930) 14,447 89.8%
Liquor Fund 874 1,557 683 178.1%
Sanitary sewer operations (19,055) (19,055) - 100.0%
Total other financing (uses) (110,854) (88,411) 22,443 79.8%
Change in net position (215,650) 142,451 358,101
Beginning net position 705,236 1,052,807 347,571
Ending net position 489,586 $ 1,195,258 $ 705,672 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2015
Enterprise - Utility Fund Environmental Resources Operation
10