HomeMy WebLinkAbout3rd Quarter 2016 Financial Reporti
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, 2016. 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 installments in June and
December. The General fund property tax revenues are anticipated to be $18.6 million
for 2016.
Licenses and Permits.
• Building permit revenue continues to be strong. The following chart shows how the
number of permits issued through the third quarter compares to the same period in 2015
and the 2016 Adopted Budget:
3rd 2016 3rd
Quarter Adopted Quarter
Permit Type 2015 Budget 2016
Single Family 262 300 279
Townhome 30 21 59
Commercial 10 4 9
Intergovernmental.
• Police state aid revenue of $428,000 exceeds budget estimates by $8,000 and is a
$39,000 increase over 2015. Fire state aid revenue of $345,000 exceeds budget estimates
by $31,000 and is slightly below 2015. The DUI Officer Grant is below budget estimates
due to administrative and training hours worked by the officer which are not covered by
the grant.
Charges for Services.
• General government services are exceeding budget estimates due to increased planning
and inspection department fees. Year-to-date revenues are at 96 percent of the annual
budget.
ii
FINANCIAL HIGHLIGHTS (continued):
General Fund - Revenues (Continued)
Charges for Services.(Continued)
• Public Safety revenues are in line with budget estimates.
• Public works revenues for engineering related services in connection with developer
construction administration have already met the annual budget expectations. In
addition, revenues of $948,000 have been recognized from City improvement projects.
• Parks and Recreation revenues are in line with budget estimates and consistent with prior
years.
Court Fines
• Revenues from court fines ($316,000) represent 100 percent of the budget estimates
and are up $43,000 over the period in 2015. The increase is a result of the police traffic
unit. It should be noted that this also increases the CAD call numbers used by the
Dakota Communications Center to allocate the membership fees which will increase
Lakeville’s share of the DCC cost in 2017.
General Fund - Expenditures
Motor Fuels – The new State of Minnesota fuel contract began February 2016. The
contracted price for unleaded and diesel fuel is $1.59 and $1.76, respectively. The budget
anticipated the price to be $2.67 and $3.00, respectively. As a result, motor fuels through
September 30, are at 51 percent of the 2016 Budget. Fewer snow events for the public
works departments also contributed to the low fuel expense.
Cleaning Supplies – Costs are up in 2016 as the City implements its own staff to perform
janitorial services.
Utilities – Natural Gas. For the second year, natural gas costs are below the previous year.
A major component to that is the price of natural gas was down compared to 2015.
Consumption was relatively consistent from 2015 as the winter was relatively mild. The
General Fund incurred approximately $54,000 in natural gas costs compared to $78,000 the
same period in 2015.
City Administration . Personnel expenditures are up slightly over budget due to the
retirement of the Administrative Assistant.
City Clerk . The department is below budget as a large portion of the budget appropriations
are for the election which takes place in the final quarter.
iii
FINANCIAL HIGHLIGHTS (continued):
General Fund - Expenditures (continued)
Legal . Attorney fees of $42,000 continue to be lower than budget estimates and are
$10,000 below the same period in 2015.
Planning . Contractual planning services are running at about 50 percent of budget due to
lower than anticipated zoning ordinance updates.
Inspections . 2016 is the first full year for the new Senior Building Inspector/Plans Examiner
position created in 2015. Contractual Electrical are exceeding budget due to increased
number of building permits. This is offset with the increase in electrical permit revenues.
General Government Facilities. Personnel services are up over the same period in 2015 as a
result of eliminating the outside custodial companies and adding city staff to perform those
duties.
Finance. Personnel services are trailing the budget due to not hiring the senior accountant
position until May. The position was budgeted for a full year.
Information Systems. Personnel Services are exceeding budget due to the retirement of the
Information Systems Manager. This overage was offset slightly by the delay in hiring two
vacant technician positions until September.
Human Resources. Personnel services are exceeding budget due to the recent retirement of
the Human Resources Director in July.
Police Department. The cost to add a new K-9 is offset by donations. Additional equipment
for the DUI and Theft Prevention programs are offset by grant funding.
Fire Department. 2016 personnel services are up over the same period last year due to the
addition of the Assistant Fire Chief and the duty crews in late 2015. The contribution to the
Lakeville Fire Relief Association was about $29,000 higher than budget. This is offset by the
fire state aid revenue
Engineering Department. Personnel services are trailing budget as a result of a vacant
position in the first quarter. Contractual engineering expenses have not been incurred yet
for traffic studies and the County Road 70 Arterial study.
iv
FINANCIAL HIGHLIGHTS (continued):
General Fund - Expenditures (Continued)
Operations & Maintenance. Personnel services are below budget estimates due to the
delay in hiring a new 2016 budgeted position and overtime not being incurred until the
construction season.
Streets. As a result of the lower number of snow events during the first quarter of 2016, the
department’s expenditures continue to trail budget appropriations.
Parks. Personnel costs are below budget due to the vacant Park Supervisor position.
Commodities are below budget due to a number of fall projects that will be completed in
the 4 th quarter.
Recreation. Personnel costs are under budget due to the vacant Recreation Program
Supervisor position.
Heritage Center. Personnel services are exceeding budget due to the increased number of
rentals requiring additional staff coverage. This will be offset by increased rental revenue. A
new part-time staff was hired in 2016 to assist with daily operations which is also
contributing to the increases in personnel services.
Communications Fund
Revenues from Franchise fees are received on a quarterly basis. They are typically received
by the end of the month following the quarter. As of the date of this report, the third
quarter franchise fees have not been received and the amount was estimated based on
historical numbers. Revenues are anticipated to be slightly below budget, but exceeding
2015 revenues.
Personnel services are exceeding budgets due to the retirement of the Communications
Manager.
Capital outlay acquisitions include replacement of three computer workstations and the
addition of Broadcast Pix.
v
FINANCIAL HIGHLIGHTS (continued):
Liquor Fund
Sales through the third quarter amounted to $10.2 million which is a 3.9 percent increase
over the same period in 2015. Sales are in line with the 2016 Adopted Budget.
Salaries are tracking a little above budget estimates and are up over the same period in
2015. The increase over 2015 can be attributed to the cost of living increase as well as
adjustment to the existing pay structure for the Assistant Store Managers.
Commodities and Other Charges and Services are below budget and significantly below
2015. The department continues to look at ways to reduce costs without sacrificing
customer service. Renegotiating the rental costs at Heritage resulted in significant savings
over 2015.
Major maintenance costs in 2015 also contributed to the reduction in 2016 expenses when
compared to the previous year.
Capital outlay acquisitions include replacing the 2000 Chevy van; upgrading the Galaxie
store with the Smartstruxure System; replacing the copy machine and the roof-top unit on
the Kenrick store. The roof-top unit is the only acquisition not completed.
Water Fund
Water revenues are up $692,000 or 33percent over the same period in 2015. The summer
of 2015 was fairly wet, reducing the amount of consumption.
Water rates for the base charge and consumption tiers were increased effective February
1, 2016.
Water main repair/replacement costs are projected to be $6.6 million for Phase II of the
2015 street reconstruction project as well as the 2016 street reconstruction project. This is
a slight reduction from previous estimates. $6.0 million has been recognized through the
third quarter.
vi
FINANCIAL HIGHLIGHTS (continued):
Water Fund (Continued)
Water meter replacement projects are anticipated to be $406,000 in which $354,000 has
been spent year-to-date.
Water tower cleaning and inspections were budgeted at $125,000, but the contract was
rescinded and will be revisited in 2017. Well rehabilitations are budgeted at $145,000 and
are finalizing the projects in the fourth quarter.
Sewer Fund
Sewer revenues are tracking with budget expectations and are up $316,000 or 9percent
over the same period in 2015.
Sewer rates for the base charge and discharge were increased effective February 1, 2016.
Expenditures are consistent with prior year. However, 2016 expenses are below budget
expectations as the number of repairs has been lower than anticipated.
Major maintenance projects include lift station rehabilitations ($835,000); sewer line
improvements ($852,000) and I/I mitigation repairs ($260,000).
Street Lighting Fund
Revenues are up $25,000 or 4percent and are in line with budget. Street light fees are
also collected at the time of final plat; $22,000 has been collected in the first three
quarters of 2016.
Streetlight rates were increased effective February 1, 2016.
2016 Electrical costs are running 5percent below budget estimates.
vii
FINANCIAL HIGHLIGHTS (continued):
Environmental Resources Fund
The Revenues are tracking with budget estimates and are up $32,000 or 5percent over
2015.
Rates were increased effective February 1, 2016.
The budget includes appropriations for a part-time City Forester position which started
the first week of August. The budget was anticipating an April 1 st start date.
Significant projects such as the 205 th Street channel restoration and the King Park pond
improvements are just getting started in the 4 th quarter.
Unaudited
2016 2016 Variance from Variance from
Adopted Amended 9/30/2016 Amended Budget Actual 9/30/2015 2015 Actual
Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Revenues
General property taxes 18,553,538 $ 18,553,538 $ 9,534,873 $ (9,018,665) $ 51.4% 9,179,225 $ 355,648 $ 103.9%
Licenses and permits 1,855,528 1,855,528 2,272,272 416,744 122.5% 2,005,584 266,688 113.3%
Intergovernmental 988,816 988,816 936,211 (52,605) 94.7% 837,151 99,060 111.8%
Charges for services 3,149,629 3,149,629 2,545,319 (604,310) 80.8% 2,606,535 (61,216) 97.7%
Court fines 315,000 315,000 315,867 867 100.3% 273,283 42,584 115.6%
Investment income 40,376 40,376 48,085 7,709 119.1% 30,049 18,036 160.0%
Miscellaneous 41,645 41,645 37,323 (4,322) 89.6% 46,614 (9,291) 80.1%
Total revenues 24,944,532 24,944,532 15,689,949 (9,254,583) 62.9% 14,978,441 711,508 104.8%
Expenditures
Mayor and Council 99,866 99,866 84,403 15,463 84.5% 84,307 (96) 100.1%
Committees and Commissions 71,284 71,284 72,310 (1,026) 101.4% 61,344 (10,966) 117.9%
City Administration 413,336 413,336 319,505 93,832 77.3% 297,264 (22,241) 107.5%
City Clerk 195,441 195,441 118,054 77,387 60.4% 94,588 (23,466) 124.8%
Legal Counsel 78,178 78,178 41,543 36,635 53.1% 51,511 9,968 80.6%
Planning 458,036 458,036 347,360 110,676 75.8% 316,980 (30,380) 109.6%
Community and Econ. Development 297,952 297,952 216,155 81,797 72.5% 208,310 (7,845) 103.8%
Inspections 1,000,761 1,000,761 810,887 189,874 81.0% 667,951 (142,936) 121.4%
General Government Facilities 427,117 427,117 360,173 66,945 84.3% 308,299 (51,874) 116.8%
Finance 718,826 718,826 519,754 199,072 72.3% 538,358 18,604 96.5%
Information Systems 543,979 543,979 471,471 72,508 86.7% 412,552 (58,919) 114.3%
Human Resources 490,511 490,511 397,090 93,421 81.0% 337,047 (60,043) 117.8%
Insurance 182,180 182,180 136,635 45,545 75.0% 241,575 104,940 56.6%
Police 9,693,385 9,693,385 7,276,666 2,416,719 75.1% 6,866,044 (410,622) 106.0%
Fire 1,753,089 1,753,089 1,359,645 393,444 77.6% 1,258,511 (101,134) 108.0%
Engineering 785,343 785,343 509,109 276,235 64.8% 498,087 (11,022) 102.2%
Operations and Maintenance 652,545 652,545 416,746 235,800 63.9% 427,927 11,182 97.4%
Streets 3,321,247 3,321,247 1,990,772 1,330,476 59.9% 1,964,265 (26,507) 101.3%
Parks 2,442,197 2,442,197 1,790,754 651,443 73.3% 1,827,226 36,472 98.0%
Recreation 622,974 622,974 464,264 158,710 74.5% 458,484 (5,780) 101.3%
Heritage Center 98,770 98,770 68,009 30,762 68.9% 59,810 (8,199) 113.7%
Arts Center 479,173 479,173 358,460 120,714 74.8% 319,035 (39,425) 112.4%
Other 562,501 562,501 - 562,501 0.0% - - 0.0%
Total expenditures 25,388,691 25,388,691 18,129,761 7,258,930 71.4% 17,299,475 (830,286) 104.8%
Excess (deficiency) of revenues
over expenditures (444,159) (444,159) (2,439,812) (1,995,653) (2,321,034) (118,778)
Other financing sources (uses)
Transfer from other funds 806,513 806,513 625,783 (180,730) 77.6% 628,348 (2,565) 99.6%
Transfer to other funds (50,000) (50,000) (50,000) - 100.0% (1,612,000) 1,562,000 3.1%
Total other financing sources (uses) 756,513 756,513 575,783 (180,730) (983,652) 1,559,435 -58.5%
Net change in fund balance 312,354 312,354 (1,864,029) (2,176,383) (3,304,686) 1,440,657
Beginning fund balance 11,406,277 11,406,277 12,374,928 968,651 11,071,769 1,303,159
Ending fund balance 11,718,631 $ 11,718,631 $ 10,510,899 $ (1,207,732) $ 7,767,083 $ 2,743,816 $
Net change in fund balance percentage 2.7% 2.7% (15.1%) (29.8%)
Ratio: Fund balance to CY expenditures 46.2% 46.2% 58.0% 44.9%
General Fund
Summary Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2016
Comparative
1
Unaudited
General Fund
Schedule of Expenditures
2016 2016 Variance from Variance from
Adopted Amended 9/30/2016 Amended Budget Actual 9/30/2015 2015 Actual
Expenditures Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Mayor and Council
Personnel services 49,139 $ 49,139 $ 37,357 $ 11,782 $ 76% 37,384 $ 27 $ 99.9%
Commodities 50 50 - 50 0% - - 0.0%
Other charges and services 50,677 50,677 47,046 3,631 93% 46,923 (123) 100.3%
Total 99,866 99,866 84,403 15,463 85% 84,307 (96) 100.1%
Committees/Commissions
Personnel services 57,592 57,592 53,376 4,216 93% 45,543 (7,833) 117.2%
Commodities 1,530 1,530 1,342 188 88% 2,372 1,030 56.6%
Other charges and services 12,162 12,162 17,592 (5,430) 145% 13,429 (4,163) 131.0%
Total 71,284 71,284 72,310 (1,026) 101% 61,344 (10,966) 117.9%
City Administration
Personnel services 388,023 388,023 301,745 86,279 78% 278,715 (23,030) 108.3%
Commodities 800 800 2,063 (1,263) 258% 208 (1,855) 991.8%
Other charges and services 17,513 17,513 11,245 6,268 64% 14,352 3,107 78.4%
Capital outlay 7,000 7,000 4,452 2,548 64% 3,989 (463) 111.6%
Total 413,336 413,336 319,505 93,832 77% 297,264 (22,241) 107.5%
City Clerk
Personnel services 108,929 108,929 84,023 24,906 77% 80,742 (3,281) 104.1%
Commodities 2,282 2,282 327 1,955 14% 58 (269) 563.8%
Other charges and services 76,230 76,230 33,704 42,526 44% 13,788 (19,916) 244.4%
Capital outlay 8,000 8,000 - 8,000 0% - - 0.0%
Total 195,441 195,441 118,054 77,387 60% 94,588 (23,466) 124.8%
Legal Counsel
Other charges and services 78,178 78,178 41,543 36,635 53% 51,511 9,968 80.6%
Planning
Personnel services 396,771 396,771 313,969 82,802 79% 296,446 (17,523) 105.9%
Commodities 3,230 3,230 930 2,300 29% 1,229 299 75.7%
Other charges and services 56,857 56,857 32,461 24,396 57% 18,889 (13,572) 171.9%
Capital outlay 1,178 1,178 - 1,178 0% 416 416 0.0%
Total 458,036 458,036 347,360 110,676 76% 316,980 (30,380) 109.6%
Community and Economic Development
Personnel services 265,372 265,372 208,595 56,777 79% 194,034 (14,561) 107.5%
Commodities 250 250 111 139 44% 105 (6) 105.7%
Other charges and services 31,750 31,750 7,449 24,301 23% 13,871 6,422 53.7%
Capital outlay 580 580 - 580 0% 300 300 0.0%
Total 297,952 297,952 216,155 81,797 73% 208,310 (7,845) 103.8%
Inspection
Personnel services 792,349 792,349 620,264 172,085 78% 529,730 (90,534) 117.1%
Commodities 10,834 10,834 6,146 4,688 57% 8,864 2,718 69.3%
Other charges and services 196,328 196,328 184,477 11,851 94% 126,870 (57,607) 145.4%
Capital outlay 1,250 1,250 - 1,250 0% 2,487 2,487 0.0%
Total 1,000,761 1,000,761 810,887 189,874 81% 667,951 (142,936) 121.4%
(continued)
Comparative
2
Unaudited
General Fund
Schedule of Expenditures
2016 2016 Variance from Variance from
Adopted Amended 9/30/2016 Amended Budget Actual 9/30/2015 2015 Actual
Expenditures (continued) Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
General Government Facilities
Personnel services 209,098 $ 209,098 $ 223,993 $ (14,895) $ 107% 163,678 $ (60,315) $ 136.8%
Commodities 22,728 22,728 8,353 14,375 37% 9,809 1,456 85.2%
Other charges and services 195,291 195,291 127,827 67,464 65% 134,812 6,985 94.8%
Capital outlay - - - - 0% - - 0.0%
Total 427,117 427,117 360,173 66,945 84% 308,299 (51,874) 116.8%
Finance
Personnel services 635,701 635,701 455,721 179,980 72% 469,111 13,390 97.1%
Commodities 4,958 4,958 2,719 2,239 55% 2,455 (264) 110.8%
Other charges and services 78,167 78,167 59,966 18,201 77% 62,626 2,660 95.8%
Capital outlay - - 1,348 (1,348) 0% 4,166 2,818 32.4%
Total 718,826 718,826 519,754 199,072 72% 538,358 18,604 96.5%
Information Systems
Personnel services 323,655 323,655 294,141 29,514 91% 239,236 (54,905) 123.0%
Commodities 5,196 5,196 3,023 2,173 58% 3,448 425 87.7%
Other charges and services 215,128 215,128 174,307 40,821 81% 168,999 (5,308) 103.1%
Capital outlay - - - - 0% 869 869 0.0%
Total 543,979 543,979 471,471 72,508 87% 412,552 (58,919) 114.3%
Human Resources
Personnel services 379,455 379,455 336,886 42,569 89% 244,386 (92,500) 137.9%
Commodities 1,340 1,340 1,691 (351) 126% 1,871 180 90.4%
Other charges and services 109,716 109,716 57,165 52,551 52% 85,150 27,985 67.1%
Capital outlay - - 1,348 (1,348) 0% 5,640 4,292 23.9%
Total 490,511 490,511 397,090 93,421 81% 337,047 (60,043) 117.8%
Insurance
Other charges and services 182,180 182,180 136,635 45,545 75% 241,575 (104,940) 56.6%
Police
Personnel services 7,592,958 7,592,958 5,757,226 1,835,732 76% 5,256,730 (500,496) 109.5%
Commodities 346,623 346,623 248,680 97,943 72% 282,722 34,042 88.0%
Other charges and services 1,753,804 1,753,804 1,245,317 508,487 71% 1,270,280 24,963 98.0%
Capital outlay - - 25,443 (25,443) 0% 56,312 30,869 45.2%
Total 9,693,385 9,693,385 7,276,666 2,416,719 75% 6,866,044 (410,622) 106.0%
Fire
Personnel services 998,930 998,930 720,419 278,511 72% 639,669 (80,750) 112.6%
Fire Relief Contribution/State Aid 316,515 316,515 345,276 (28,761) 109% 342,889 (2,387) 100.7%
Commodities 139,128 139,128 76,348 62,780 55% 93,322 16,974 81.8%
Other charges and services 298,516 298,516 217,602 80,914 73% 182,631 (34,971) 119.1%
Capital outlay - - - - 0% - - 0.0%
Total 1,753,089 1,753,089 1,359,645 393,444 78% 1,258,511 (101,134) 108.0%
(continued)
Comparative
3
Unaudited
General Fund
Schedule of Expenditures
2016 2016 Variance from Variance from
Adopted Amended 9/30/2016 Amended Budget Actual 9/30/2015 2015 Actual
Expenditures (continued) Budget Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Engineering
Personnel services 642,916 $ 642,916 $ 480,293 $ 162,624 $ 75% 431,618 $ (48,675) $ 111.3%
Commodities 8,924 8,924 2,695 6,229 30% 3,983 1,288 67.7%
Other charges and services 122,171 122,171 24,979 97,192 20% 42,565 17,586 58.7%
Capital outlay 11,332 11,332 1,142 10,190 10% 19,921 18,779 5.7%
Total 785,343 785,343 509,109 276,235 65% 498,087 (11,022) 102.2%
Operations and Maintenance
Personnel services 594,248 594,248 402,012 192,237 68% 347,722 (54,290) 115.6%
Commodities 7,283 7,283 4,073 3,210 56% 5,102 1,029 79.8%
Other charges and services 15,141 15,141 7,650 7,491 51% 8,645 995 88.5%
Capital outlay 35,873 35,873 3,011 32,862 8% 66,458 63,447 4.5%
Total 652,545 652,545 416,746 235,800 64% 427,927 11,182 97.4%
Streets
Personnel services 1,915,919 1,915,919 1,407,231 508,689 73% 1,256,964 (150,267) 112.0%
Commodities 1,037,288 1,037,288 381,648 655,640 37% 484,546 102,898 78.8%
Other charges and services 368,040 368,040 201,893 166,147 55% 222,755 20,862 90.6%
Capital outlay - - - - 0% - - 0.0%
Total 3,321,247 3,321,247 1,990,772 1,330,476 60% 1,964,265 (26,507) 101.3%
Parks
Personnel services 1,648,678 1,648,678 1,224,622 424,056 74% 1,247,803 23,181 98.1%
Commodities 277,377 277,377 179,958 97,419 65% 204,840 24,882 87.9%
Other charges and services 511,767 511,767 386,174 125,593 75% 374,583 (11,591) 103.1%
Capital outlay 4,375 4,375 - 4,375 0% - - 0.0%
Total 2,442,197 2,442,197 1,790,754 651,443 73% 1,827,226 36,472 98.0%
Recreation
Personnel services 370,418 370,418 256,120 114,298 69% 259,453 3,333 98.7%
Commodities 27,572 27,572 16,346 11,226 59% 16,579 233 98.6%
Other charges and services 224,206 224,206 189,099 35,107 84% 179,764 (9,335) 105.2%
Capital outlay 778 778 2,699 (1,921) 347% 2,688 (11) 100.4%
Total 622,974 622,974 464,264 158,710 75% 458,484 (5,780) 101.3%
Heritage Center
Personnel services 33,752 33,752 32,952 801 98% 27,192 (5,760) 121.2%
Commodities 12,627 12,627 2,116 10,511 17% 3,915 1,799 54.0%
Other charges and services 52,391 52,391 32,941 19,450 63% 28,703 (4,238) 114.8%
Capital outlay - - - - 0% - - 0.0%
Total 98,770 98,770 68,009 30,762 69% 59,810 (8,199) 113.7%
Arts Center
Personnel services 258,719 258,719 188,644 70,076 73% 178,713 (9,931) 105.6%
Commodities 23,410 23,410 26,767 (3,357) 114% 15,796 (10,971) 169.5%
Other charges and services 195,864 195,864 139,164 56,700 71% 124,180 (14,984) 112.1%
Capital outlay 1,180 1,180 3,885 (2,705) 329% 346 (3,539) 1122.8%
Total 479,173 479,173 358,460 120,714 75% 319,035 (39,425) 112.4%
Comparative
4
Unaudited
2016 Percent
Adopted of
Budget Actual Variance Budget
Revenues
Licenses franchise fee 690,879$ 510,142$ (180,737)$ 73.8%
PEG Fees 65,067 45,848 (19,219) 70.5%
Intergovernmental State aid 516 258 (258) 50.0%
Investment income 4,182 2,686 (1,496) 64.2%
Total revenues 760,644 558,934 (201,710) 73.5%
Expenditures - General government
Personnel services 342,859 294,497 48,363 85.9%
Commodities 2,583 2,003 580 77.5%
Other charges and services 195,222 154,261 40,961 79.0%
Capital outlay 48,262 33,230 15,032 68.9%
Total expenditures 588,926 483,991 104,936 82.2%
Excess (deficiency) of revenues over expenditures 171,718 74,943 (96,775) 43.6%
Other financing (uses) - Transfers
To General Fund (134,978) (101,234) 33,745 75.0%
To Equipment Fund (100,000) (100,000) - 100.0%
To Building Fund (150,000) (150,000) - 100.0%
Total other financing (uses)(384,978) (351,234) 33,745 91.2%
Net change in fund balance (213,260) (276,290) (63,030)
Beginning fund balance 500,456 511,596 11,140
Ending fund balance 287,196$ 235,306$ (51,890)$
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2016
Special Revenue - Communications Fund
5
Unaudited
2016 Percent Variance from
Adopted of 9/30/2015 2015 Actual
Budget Actual Variance Budget Actual Positive (Negative)
Sales and cost of sales
Sales 13,882,928$ 10,159,614$ (3,723,314)$ 73.2% 9,782,886$ 376,728$ 103.9%
Cost of sales 10,497,922 7,657,927 2,839,995 72.9%7,281,968 (375,959) 105.2%
Gross profit 3,385,006 2,501,687 (883,319) 73.9%2,500,918 769 100.0%
Operating expenses
Personnel services 1,358,238 1,041,395 316,843 76.7% 968,537 (72,858) 107.5%
Commodities 72,276 29,790 42,486 41.2% 35,157 5,367 84.7%
Other charges and services 846,686 560,170 286,516 66.2% 641,307 81,137 87.3%
Depreciation 114,761 86,071 28,690 75.0%89,248 3,177 96.4%
Total operating expenses 2,391,961 1,717,426 674,535 71.8%1,734,249 16,823 99.0%
Operating income 993,045 784,261 (208,784) 79.0%766,669 17,592 102.3%
Non-operating revenue (expense)
Investment income 17,115 5,730 (11,385) 33.5% 18,975 (13,245) 30.2%
Miscellaneous 7,500 - (7,500) 0.0% 2,338 (2,338) 0.0%
Interest and bond expense (135,417) (101,813) 33,604 75.2% (108,260) 6,447 94.0%
Transfers in (out)
General Fund (172,970) (129,728) 43,242 75.0% (123,880) (5,848) 104.7%
Debt Service:
CIP Bonds-Police Station (400,000) (400,000) - 100.0% (400,000) - 100.0%
Capital Projects:
Equipment Fund (500,000) (500,000) - 100.0% (825,812) 325,812 60.5%
Enterprise Fund:
Environmental Resources - Recycling (1,967) (1,348) 619 68.5%(1,557) 209 86.6%
Total non-operating (net)(1,185,739) (1,127,159) 58,580 95.1%(1,438,196) 311,037 78.4%
Change in net position (192,694) (342,898) (150,204) (671,527) 328,629
Beginning net position 4,967,463 5,103,267 135,804 5,521,329 (418,062)
Ending net position 4,774,769$ 4,760,369$ (14,400)$ 4,849,802$ (89,433)$
Comparative
CITY OF LAKEVILLE, MINNESOTA
Enterprise - Liquor Fund
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2016
6
Unaudited
2016 Percent
Adopted of
Budget Actual Variance Budget
Operating revenues
User charges for services 3,526,004 $ 2,763,968 $ (762,036) $ 78.4%
Other 164,003 82,626 (81,377) 50.4%
Total operating revenue 3,690,007 2,846,594 (843,413) 77.1%
Operating expenses
Personnel services 1,066,234 819,277 246,957 76.8%
Commodities 337,082 208,314 128,768 61.8%
Other charges and services 1,235,537 820,035 415,502 66.4%
Major Maintenance 7,446,360 6,338,822 1,107,538 85.1%
Total operating expenses 10,085,213 8,186,447 1,898,766 81.2%
Operating income (loss) (6,395,206) (5,339,853) 1,055,353
Non-operating revenue (expense)
Intergovernmental 1,632 1,968 336 120.6%
Investment income 21,424 24,029 2,605 112.2%
Disposal of assets 4,500 - (4,500) 0.0%
Capital outlay (63,841) (54,386) 9,455 85.2%
Bond proceeds 6,753,720 6,648,012 (105,708) 98.4%
Debt Service (399,893) (399,896) (3) 100.0%
Transfers in (out) (148,618) (111,464) 37,154 75.0%
Total non-operating (net) 6,168,924 6,108,263 (60,661) 99.0%
Change in working capital (226,282) 768,410 994,692
Beginning working capital 5,194,352 5,539,009 344,657
Ending working capital 4,968,070 $ 6,307,419 $ 1,339,349 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2016
Enterprise - Utility Fund Water Operation
7
Unaudited
2016 Percent
Adopted of
Budget Actual Variance Budget
Operating revenue
User charges for services 5,130,765 $ 3,769,557 $ (1,361,208) $ 73.5%
Operating expenses
Personnel services 794,026 494,151 299,875 62.2%
Commodities 99,067 39,640 59,427 40.0%
Other charges and services 349,557 164,589 184,968 47.1%
Disposal charges 3,263,530 2,447,649 815,881 75.0%
Major maintenance projects 1,946,910 439,637 1,507,273 22.6%
Total operating expenses 6,453,090 3,585,666 2,867,424 55.6%
Operating income (loss) (1,322,325) 183,891 1,506,216
Non-operating revenue (expense)
Intergovernmental State aid 1,632 816 (816) 50.0%
Grants 25,000 - (25,000) 0.0%
Investment income 16,776 13,125 (3,651) 78.2%
Disposal of assets 114,500 125,000 10,500 109.2%
Capital outlay (501,282) (476,153) 25,130 95.0%
Bond proceeds 720,000 566,296 (153,704) 78.7%
Transfers in (out) (132,897) (94,858) (38,039) 71.4%
Total non-operating (net) 243,729 134,226 (109,503) 55.1%
Change in working capital (1,078,596) 318,117 1,396,713
Beginning working capital 2,259,915 2,540,465 280,550
Ending working capital 1,181,319 $ 2,858,582 $ 1,677,263 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2016
Enterprise - Utility Fund Sanitary Sewer Operation
8
Unaudited
2016 Percent
Adopted of
Budget Actual Variance Budget
Operating revenue
User charges for services 778,918$ 604,823$ (174,095)$ 77.6%
Operating expenses
Personnel services 17,738 7,023 10,715 39.6%
Commodities 31 16 15 51.9%
Other charges and services 738,330 518,103 220,227 70.2%
Total operating expenses 756,099 525,143 230,956 69.5%
Operating income (loss)22,819 79,680 56,861
Non-operating revenue (expense)
Investment income 996 970 (26) 97.4%
Transfers in (out) - General Fund (3,538) (2,654) 884 75.0%
Total non-operating (net)(2,542) (1,684) 858 66.2%
Change in working capital 20,277 77,996 57,719
Beginning working capital 164,484 205,936 41,452
Ending working capital 184,761$ 283,932$ 99,171$
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2016
Enterprise - Utility Fund Street Light Operation
9
Unaudited
2016 Percent
Adopted of
Budget Actual Variance Budget
Revenues
User charges for services 787,096 $ 605,884 $ (181,212) $ 77.0%
Charges for services - Recycling 4,350 2,824 (1,526) 64.9%
Total revenues 791,446 608,708 (450,416) 76.9%
Expenditures - Public works
Personnel services 298,822 199,186 99,636 66.7%
Commodities 34,997 26,131 8,866 74.7%
Other charges and services 702,660 145,111 557,549 20.7%
Total expenditures 1,036,479 370,428 666,051 35.7%
Excess (deficiency) of revenues over expenditures (245,033) 238,280 483,313
Non-operating revenue (expense)
Intergovernmental 52,292 63,000 10,708 120.5%
Investment income 3,446 4,242 796 123.1%
Capital outlay (17,268) (10,337) 6,931 59.9%
Transfers in (out)
General Fund (142,740) (127,953) 14,787 89.6%
Equipment Fund (31,000) (31,000) - 100.0%
Liquor Fund 1,967 1,348 (619) 68.5%
Sanitary sewer operations (19,260) (19,260) - 100.0%
Total other financing (uses) (152,563) (119,960) 32,603 78.6%
Change in working capital (397,596) 118,320 515,916
Beginning working capital 737,282 709,265 (28,017)
Ending working capital 339,686 $ 827,585 $ 487,899 $
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Net Assets
For the Nine Month Period Ended September 30, 2016
Enterprise - Utility Fund Environmental Resources Operation
10