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HomeMy WebLinkAboutItem 7i        FINANCIAL HIGHLIGHTS:   The following financial report and analysis offers readers a narrative overview of the financial activities  of the City for the six‐month period ended June 30, 2017. 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 $18.8 million for 2017.     Licenses and Permits.     Building permit revenue continues to be strong. The following chart shows how the  number of permits issued in the first six months compares to the same period in 2016 and  the 2017 Adopted Budget:      First 2017 First  Half Adopted Half Permit Type 2016 Budget 2017 Single Family 182 300 227 Townhome 39 50 36 Apartments (Units) 8 (98 Units) (195 Units) 2 (195 Units) Commercial 3 5 4    Intergovernmental.   Revenues comprised of police and fire aid and various grants are typically received in the  third and fourth quarters.     Charges for Services.   General government services are exceeding budget estimates due to increased planning  and inspection department fees.   Public Safety revenues are in line with budget estimates.    Public works revenues are based on summer construction projects and therefore year‐to‐ date revenues are below the annual estimates. New developments for 2017 are down  compared to the same period in 2016.    Parks and Recreation revenues are slightly above budget estimates.   ii    FINANCIAL HIGHLIGHTS (continued):    General Fund     ‐     Revenues (Continued)   Court Fines  • Revenues from court fines ($221,000) represent 48 percent of the budget estimates and  are up $14,000 over the same period in 2016. 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 2019.       General Fund     ‐     Expenditures   Personnel Services – Planning/General Government Facilities/Finance/Information  Systems/Engineering. Personnel services for these departments are in line with budget;  however, these departments are exceeding the same period in 2016 due to positions that  were hired after the first quarter 2016.      Motor Fuels – The new State of Minnesota fuel contract began February 2017. Motor fuels  through June 30, are at 48 percent of the 2017 Budget.       Street Chemicals – Costs for the first part of 2017 are at 89 percent of the $430,000 budget.  Unused chemicals are stored at the central maintenance facility and will be utilized in the late  fall if needed. The accounting method for chemicals was switched from the consumption  method to the purchases method at the end of 2016. This change increased the expense for  chemicals as previously reported in the 2016 second quarter.     Utilities – Electric & Natural Gas. Costs are fairly consistent with the same period in 2016. The  2017 adopted budget was reduced significantly to account for the trend of lower utility costs.  Total costs through the second quarter represent 42 percent of the adopted budget.      City Clerk‐Elections. 2017 is the first year of licensing and maintenance on the new voting  tabulators.      Legal. Fees are up over the same period in 2016 and are exceeding budget estimates due to  general legal services.       iii    FINANCIAL HIGHLIGHTS (continued):    General Fund     ‐     Expenditures (continued)   Planning. Salaries are slightly below budget estimates due to the delay in hiring the new Zoning  Enforcement position in April. The position was anticipated for January 1st.       General Government Facilities. Personnel Services and Commodities are up compared to  2016 due to the hiring of the custodial staff did not take place until April 2016.     Information Systems. Numerous annual maintenance contracts are paid in the first quarter of  the year.      Construction Services. Personnel services are below budget estimates due to employee  vacancies in the first part of 2017.     Recreation/Heritage Center. Personnel costs for Recreation are slightly below budget whereas  Heritage Center costs are exceeding budget. This is the result of an internal salary allocation of  an employee that spends a large part of time on facility rentals.     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 second quarter  franchise fees have not been received and the amount was estimated based on historical  numbers.     Expenses are down over last year at this time due to a $29,000 payment to CivicPlus for the  2016 Website modifications. Additional savings were realized due to the personnel transition  within the Cable TV division.      The 2017 budget was amended $46,118 for phase I of the fiber project. Phase I will connect  fiber from city hall to fire station #1 and the Heritage Center.      Capital outlay acquisitions include replacement of two computer workstations, HD Camcorders  and office furniture.   iv    FINANCIAL HIGHLIGHTS (continued):     Liquor Fund     Sales for the first quarter amounted to $6.6 million which is a 2.6 percent increase over the  same period in 2016. Construction on county road 42 in Burnsville may have contributed to  the increased customer counts.      Total expenditures are tracking slightly below budget appropriations.      Capital outlay acquisitions include flooring replacement and addition of a tasting bar at  Kenrick. Walk‐in cooler fan retro‐fit will be added to the 2017 estimate. The parking lot  improvements ($145,000) at the Kenrick store will be pushed into 2018 and completed with  the Kenrick Avenue reconstruction project.      Water Fund   Water revenues are low which is typical for the first half of the year, but are exceeding  revenues from the same period a year ago due mainly to the water rate increase that went in  affect February 1, 2017. Water usage increases as residents and businesses turn on their  irrigation systems in late spring.     Water main repair/replacement costs are projected to be $1.1 million for the 2017 street  reconstruction project.      Water meter replacement projects are anticipated to be $397,000 of which $164,000 has been  spent year‐to‐date.      Water tower cleaning and inspections are budgeted at $59,000, and well rehabilitations are  budgeted at $180,000.         v    FINANCIAL HIGHLIGHTS (continued):     Sewer Fund   Sewer revenues are tracking with budget expectations and are up over the same period in 2016  as a result of the increase in sewer rates for the base charge and discharge effective February  1, 2017.       Expenditures are consistent with prior year and most are below budget expectations as the  number of repairs has been lower than anticipated. The Met Council disposal charges are  $117,000 higher than the same period in 2016.     Major maintenance projects include lift station rehabilitations ($45,000); sewer line  improvements ($250,000) and I/I mitigation repairs ($250,000).      Street Lighting Fund   Revenues are exceeding budget. Street light fees are also collected at the time of final plat;  $16,000 has been collected with final plats during the first quarter 2017.     Streetlight rates were increased effective February 1, 2017.       2017 electrical costs are in line with budget estimates.        Environmental Resources Fund   Revenues are tracking with budget estimates.      Rates were increased effective February 1, 2017.     Majority of projects commence in the spring, summer and fall months. As a result, many of the  expenditures have not been submitted for payment.      Unaudited 2017 Variance from Adopted 6/30/17 Adopted Budget Actual 6/30/16 Budget Actual Positive (Negative)Percent Actual Revenues General property taxes 18,833,557$     9,784,500$       (9,049,057)$                52.0% 9,534,873$         249,627$            102.6% Licenses and permits 2,202,952          1,797,665         (405,287)                      81.6% 1,422,444           375,221              126.4% Intergovernmental 1,021,685          100,385             (921,300)                      9.8% 90,727                 9,658                   110.6% Charges for services 2,666,697          925,695             (1,741,002)                   34.7% 1,137,862           (212,167)             81.4% Court fines 466,000             221,382             (244,618)                      47.5% 207,118               14,264                106.9% Investment income 90,071               45,795               (44,276)                        50.8% 30,166                 15,629                151.8% Miscellaneous 37,860               21,118               (16,742)                        55.8%22,079                 (961)                     95.6%   Total revenues 25,318,822       12,896,540       (12,422,282)                50.9%12,445,269         451,271              103.6% Expenditures Mayor and Council 101,090             40,121               60,969                          39.7% 39,166                 (956)                     102.4% Committees and Commissions 75,660               7,724                 67,937                          10.2% 6,948                   (776)                     111.2% City Administration 423,147             200,567             222,581                       47.4% 218,199               17,633                91.9% City Clerk 139,774             77,362               62,412                          55.3% 67,015                 (10,347)               115.4% Legal Counsel 57,000               37,960               19,040                          66.6% 26,518                 (11,442)               143.1% Planning 564,262             248,821             315,441                       44.1% 224,115               (24,706)               111.0% Community and Econ. Development 358,272             140,901             217,371                       39.3% 132,382               (8,519)                 106.4% Inspections 1,061,584          535,118             526,466                       50.4% 544,729               9,611                   98.2% General Government Facilities 529,611             262,770             266,841                       49.6% 233,115               (29,655)               112.7% Finance 759,615             374,610             385,006                       49.3% 317,681               (56,929)               117.9% Information Systems 620,742             346,847             273,896                       55.9% 351,751               4,905                   98.6% Human Resources 520,626             226,735             293,891                       43.6% 222,335               (4,400)                 102.0% Insurance 182,180             91,090               91,090                          50.0% 91,090                  ‐                            100.0% Police 10,493,244       5,035,792         5,457,453                    48.0% 4,858,079           (177,712)             103.7% Fire 1,788,770          692,095             1,096,675                    38.7% 656,016               (36,079)               105.5% Engineering 1,005,397          370,844             634,553                       36.9% 321,267               (49,578)               115.4% Operations and Maintenance 664,477             160,364             504,113                       24.1% 262,313               101,949              61.1% Streets 3,276,483          1,711,726         1,564,757                    52.2% 1,674,129           (37,597)               102.2% Parks 2,541,925          1,157,062       1,384,864                  45.5% 1,068,124         (88,938)               108.3% Recreation 672,981             308,933             364,049                       45.9% 272,661               (36,272)               113.3% Heritage Center 95,822               55,238               40,585                          57.6% 38,746                 (16,492)               142.6% Arts Center 502,337             285,312             217,026                       56.8% 246,521               (38,791)               115.7% Other ‐                           ‐                          ‐                                     0.0%‐                            ‐                            0.0%   Total expenditures 26,434,999       12,367,988       14,067,011                  46.8%11,872,899         (495,089)             104.2% Excess (deficiency) of revenues over expenditures (1,116,177)        528,552             1,644,729                    572,370               (43,818)                Other financing sources (uses) Transfer from other funds 782,655             434,693             (347,962)                      55.5% 445,052               (10,359)               97.7% Transfer to other funds (1,145,000)        (1,145,000)        ‐                                     100.0%(50,000)                (1,095,000)         2290.0% Total other financing sources (uses) (362,345)            (710,307)            (347,962)                      395,052               (1,105,359)         ‐179.8% Net change in fund balance (1,478,522)        (181,755)            1,296,767                    967,422               (1,149,177)          Beginning fund balance 14,121,784       15,076,500       954,716                       12,374,928         2,701,572            Ending fund balance 12,643,262$     14,894,745$     2,251,483$                  13,342,350$       1,552,395$         Net change in fund balance percentage (10.5%)(1.2%)7.8% Ratio: Fund balance to CY expenditures 47.8%120.4%112.4% Variance from 2016 Actual Positive (Negative) General Fund Summary Statement of Revenues, Expenditures and Changes in Fund Balances For the Six Month Period Ended June 30, 2017 Comparative 1 Unaudited General Fund Schedule of Expenditures 2017 Variance from Adopted 6/30/17 Adopted Budget Actual 6/30/16 Expenditures Budget Actual Positive (Negative)Percent Actual Mayor and Council Personnel services 49,151$             24,724$             24,427$                       50% 24,143$               (582)$                   102.4% Commodities 50                        ‐                      50                                  0%‐                         ‐                       0.0% Other charges and services 51,889               15,397               36,492                          30%15,023                 (374)                     102.5% Total 101,090             40,121               60,969                          40%39,166                 (956)                     102.4% Committees/Commissions Personnel services 61,412               2,013                 59,400                          3% 1,083                   (930)                     185.8% Commodities 1,530                   ‐                      1,530                            0% 46                         46                        0.0% Other charges and services 12,718               5,711                 7,007                            45%5,819                   108                      98.1% Total 75,660               7,724                 67,937                          10%6,948                   (776)                     111.2% City Administration Personnel services 404,834             191,481             213,354                       47% 207,355               15,875                92.3% Commodities 800                     525                     275                               66% 2,063                   1,538                   25.4% Other charges and services 17,513               8,561                 8,952                            49% 8,781                   220                      97.5% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 423,147             200,567             222,581                       47%218,199               17,633                91.9% City Clerk Personnel services 110,468             55,309               55,159                          50% 53,270                 (2,039)                 103.8% Commodities 200                      ‐                      200                               0% 49                         49                        0.0% Other charges and services 29,106               22,053               7,053                            76% 13,696                 (8,357)                 161.0% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 139,774             77,362               62,412                          55%67,015                 (10,347)               115.4% Legal Counsel Other charges and services 57,000               37,960               19,040                          67%26,518                 (11,442)               143.1% Planning Personnel services 505,012             231,984             273,028                       46% 207,668               (24,316)               111.7% Commodities 3,329                  476                     2,853                            14% 732                       256                      65.0% Other charges and services 55,921               16,361               39,560                          29% 15,715                 (646)                     104.1% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 564,262             248,821             315,441                       44%224,115               (24,706)               111.0% Community and Economic Development Personnel services 284,506             130,373             154,133                       46% 127,584               (2,789)                 102.2% Commodities 250                     84                       166                               34% 30                         (54)                       280.0% Other charges and services 73,516               10,444               63,072                          14% 4,768                   (5,676)                 219.0% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 358,272             140,901             217,371                       39%132,382               (8,519)                 106.4% Inspection Personnel services 830,402             400,537             429,865                       48% 408,939               8,402                   97.9% Commodities 12,627               4,184                 8,443                            33% 4,665                   481                      89.7% Other charges and services 218,555             129,412             89,143                          59% 131,125               1,713                   98.7% Capital outlay ‐                           985                     (985)                              0%‐                        (985)                     0.0% Total 1,061,584          535,118             526,466                       50%544,729               9,611                   98.2% (continued) Comparative Variance from 2016 Actual Positive (Negative) 2 Unaudited General Fund Schedule of Expenditures 2017 Variance from Adopted 6/30/17 Adopted Budget Actual 6/30/16 Expenditures (continued)Budget Actual Positive (Negative)Percent Actual General Government Facilities Personnel services 332,817$           162,636$           170,181$                     49% 137,489$             (25,147)$             118.3% Commodities 22,907               13,874               9,033                            61% 6,316                   (7,558)                 219.7% Other charges and services 173,887             86,260               87,627                          50%89,310                 3,050                   96.6% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 529,611             262,770             266,841                       50%233,115               (29,655)               112.7% Finance Personnel services 670,563             332,865             337,699                       50% 281,700               (51,165)               118.2% Commodities 4,229                  1,363                 2,866                            32% 2,072                   709                      65.8% Other charges and services 84,823               40,382               44,441                          48% 32,561                 (7,821)                 124.0% Capital outlay ‐                           ‐                      ‐                                0%1,348                   1,348                   0.0% Total 759,615             374,610             385,006                       49%317,681               (56,929)               117.9% Information Systems Personnel services 391,170             189,769             201,402                       49% 220,139               30,371                86.2% Commodities 6,276                  907                     5,369                            14% 2,657                   1,750                   34.1% Other charges and services 223,296             156,171             67,125                          70% 128,955               (27,216)               121.1% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 620,742             346,847             273,896                       56%351,751               4,905                   98.6% Human Resources Personnel services 389,063             188,147             200,916                       48% 178,977               (9,170)                 105.1% Commodities 1,340                  723                     617                               54% 347                       (376)                     208.4% Other charges and services 130,223             37,865               92,358                          29% 41,663                 3,798                   90.9% Capital outlay ‐                           ‐                      ‐                                0%1,348                   1,348                   0.0% Total 520,626             226,735             293,891                       44%222,335               (4,400)                 102.0% Insurance Other charges and services 182,180             91,090               91,090                          50%91,090                 ‐                       100.0% Police Personnel services 8,220,190          3,859,010         4,361,181                    47% 3,731,026           (127,983)             103.4% Commodities 411,866             213,385             198,481                       52% 190,063               (23,322)               112.3% Other charges and services 1,861,188          963,397             897,791                       52% 918,704               (44,693)               104.9% Capital outlay ‐                           ‐                      ‐                                0%18,286                 18,286                0.0% Total 10,493,244       5,035,792         5,457,453                    48%4,858,079           (177,712)             103.7% Fire Personnel services 1,005,382          497,406             507,976                       49% 463,151               (34,255)               107.4% Fire Relief Contribution/State Aid 343,039              ‐                      343,039                       0%‐                         ‐                       0.0% Commodities 153,922             58,528               95,394                          38% 54,084                 (4,444)                 108.2% Other charges and services 286,427             136,161             150,266                       48% 138,781               2,620                   98.1% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 1,788,770          692,095             1,096,675                    39%656,016               (36,079)               105.5% (continued) Variance from 2016 Actual Positive (Negative) Comparative 3 Unaudited General Fund Schedule of Expenditures 2017 Variance from Adopted 6/30/17 Adopted Budget Actual 6/30/16 Expenditures (continued)Budget Actual Positive (Negative)Percent Actual Engineering Personnel services 704,482$           349,641$           354,841$                     50% 301,906$             (47,736)$             115.8% Commodities 8,766                  4,388                 4,378                            50% 2,002                   (2,386)                 219.2% Other charges and services 292,149             16,815               275,334                       6% 16,217                 (598)                     103.7% Capital outlay ‐                           ‐                      ‐                                0%1,142                   1,142                   0.0% Total 1,005,397          370,844             634,553                       37%321,267               (49,578)               115.4% Construction Services Personnel services 614,951             155,242             459,709                       25% 250,718               95,476                61.9% Commodities 7,723                  3,439                 4,284                            45% 2,816                   (623)                     122.1% Other charges and services 14,318               1,683                 12,635                          12% 5,768                   4,085                   29.2% Capital outlay 27,485               ‐                      27,485                          0%3,011                   3,011                   0.0% Total 664,477             160,364             504,113                       24%262,313               101,949              61.1% Streets Personnel services 2,011,988          944,355             1,067,633                    47% 904,536               (39,819)               104.4% Commodities 912,051             600,741             311,310                       66% 625,439               24,698                96.1% Other charges and services 352,444             166,630             185,814                       47% 144,154               (22,476)               115.6% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 3,276,483          1,711,726         1,564,757                    52%1,674,129           (37,597)               102.2% Parks  Personnel services 1,785,414          843,392             942,023                       47% 773,863               (69,529)               109.0% Commodities 277,283             126,552             150,731                       46% 126,547               (5)                         100.0% Other charges and services 475,478             187,118             288,360                       39% 167,714               (19,404)               111.6% Capital outlay 3,750                  ‐                      3,750                            0%‐                        ‐                       0.0% Total 2,541,925          1,157,062         1,384,864                    46%1,068,124           (88,938)               108.3% Recreation Personnel services 393,149             182,306             210,844                       46% 155,904               (26,402)               116.9% Commodities 35,483               9,369                 26,114                          26% 12,609                 3,240                   74.3% Other charges and services 244,349             117,258             127,091                       48% 101,449               (15,809)               115.6% Capital outlay ‐                           ‐                      ‐                                0%2,699                   2,699                   0.0% Total 672,981             308,933             364,049                       46%272,661               (36,272)               113.3% Heritage Center Personnel services 34,274               32,179               2,096                            94% 19,705                 (12,474)               163.3% Commodities 12,663               3,236                 9,427                            26% 1,223                   (2,013)                 264.6% Other charges and services 48,885               19,823               29,062                          41% 17,818                 (2,005)                 111.3% Capital outlay ‐                           ‐                      ‐                                0%‐                        ‐                       0.0% Total 95,822               55,238               40,585                          58%38,746                 (16,492)               142.6% Arts Center Personnel services 269,762             135,490             134,273                       50% 124,226               (11,264)               109.1% Commodities 33,750               15,847               17,903                          47% 17,583                 1,736                   90.1% Other charges and services 189,925             124,832             65,093                          66% 100,827               (24,005)               123.8% Capital outlay 8,900                  9,143                 (243)                              103%3,885                   (5,258)                 235.3% Total 502,337             285,312             217,026                       57%246,521               (38,791)               115.7% Variance from 2016 Actual Positive (Negative) Comparative 4 Unaudited 2017 2017 Percent Adopted Amended of 6/30/2016 Budget Budget Actual Variance Budget Actual Revenues Licenses franchise fee 676,131$  676,131$  337,294$  (338,837)$  49.9% 335,503$     1,791$          100.5% PEG Fees 61,296      61,296      30,743      (30,553)       50.2% 30,553          (190)              100.6% Intergovernmental State aid 516            516             ‐                 (516)            0.0% 258               258               0.0% Investment income 3,497         3,497         1,195         (2,302)         34.2%1,279            84                 93.4% Total revenues 741,440    741,440    369,232    (372,208)    49.8%367,593        1,639            100.4% Expenditures ‐ General government Personnel services 358,759    358,759    160,528    198,231      44.7% 175,301        14,773          91.6% Commodities 6,260         6,260         5,822         438             93.0% 1,857            (3,965)           313.5% Other charges and services 156,544    202,662    51,548      151,114      25.4% 97,817          46,269          52.7% Capital outlay 107,579    107,579    18,738      88,841        17.4%2,419            (16,319)        774.6% Total expenditures 629,142    675,260    236,636    438,624      35.0%277,394        (277,394)      85.3% Excess (deficiency) of revenues over  expenditures 112,298    66,180      132,596    66,416        200.4%90,199          90,197          147.0% Other financing (uses) ‐ Transfers To General Fund (75,429)     (75,429)     (37,715)     37,714        50.0% (67,489)        (29,774)        55.9% To Equipment Fund ‐                  ‐                  ‐                  ‐                   0.0% (100,000)      (100,000)      0.0% To Building Fund ‐                 ‐                 ‐                 ‐                   0.0%(150,000)      (150,000)      0.0% Total other financing (uses)(75,429)     (75,429)     (37,715)     37,714        50.0%(317,489)      317,490        11.9% Net change in fund balance 36,869      (9,249)       94,881      104,130      (227,290)      (227,290)       Beginning fund balance 285,483    285,483    318,696    33,213        511,596        511,596         Ending fund balance 322,352$  276,234$  413,577$  137,343$    284,306$     284,306$      Variance from 2016 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Fund Balances For the Six Month Period Ended June 30, 2017 Special Revenue ‐ Communications Fund 5 Unaudited 2017 Percent Adopted 6/30/17 of 6/30/2016 Budget Actual Variance Budget Actual Sales and cost of sales Sales 14,045,802$  6,629,843$    (7,415,959)$  47.2% 6,458,767$  171,076$       102.6% Cost of sales 10,605,816    5,001,177       5,604,639      47.2%4,895,650    (105,527)        102.2% Gross profit 3,439,986       1,628,666       (1,811,320)     47.3%1,563,117    65,549           104.2% Operating expenses Personnel services 1,443,341       742,017          701,325         51.4% 672,844        (69,173)          110.3% Commodities 70,710            26,452            44,258            37.4% 21,117          (5,335)            125.3% Other charges and services 857,233          382,778          474,455         44.7% 381,885        (893)                100.2% Depreciation 116,465          58,233            58,233            50.0%57,381          (852)                101.5% Total operating expenses 2,487,749       1,209,479       1,278,270      48.6%1,133,227    (76,252)          106.7% Operating income 952,237          419,187          (533,050)        44.0%429,890        (10,703)          97.5% Non‐operating revenue (expense) Investment income 3,744              1,875              (1,869)            50.1% 15,333          (13,458)          12.2% Miscellaneous 7,500               ‐                       (7,500)            0.0%‐                 ‐                  0.0% Interest and bond expense (125,959)         (62,980)           62,980            50.0% (67,876)         4,897              92.8% Transfers in (out) General Fund (198,819)         (99,410)           99,410            50.0% (86,485)         (12,925)          114.9% Debt Service: CIP Bonds‐Police Station (346,360)         (346,360)          ‐                       100.0% (400,000)      53,640           86.6% Capital Projects: Equipment Fund ‐                        ‐                        ‐                       0.0% (500,000)      500,000         0.0% Enterprise Fund: Environmental Resources ‐ Recycling (2,275)             ‐                       2,275              0.0%(1,348)           1,348              0.0% Total non‐operating (net)(662,169)         (506,874)         155,295         76.5%(1,040,376)   533,502         48.7% Change in net position 290,068          (87,687)           (377,755)        (610,486)      522,799          Beginning net position 4,017,732       3,942,455       (75,277)          4,135,906    (193,451)         Ending net position 4,307,800$    3,854,768$    (453,032)$      3,525,420$  329,348$        Variance from 2016 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Enterprise ‐ Liquor Fund Statement of Revenues, Expenditures and Changes in Net Assets For the Six Month Period Ended June 30, 2017 6 Unaudited 2017 Percent Adopted of 6/30/2016 Budget Actual Variance Budget Actual Operating revenues User charges for services 4,377,242$  1,360,446$  (3,016,796)$  31.1% 1,055,891$  304,555$     128.8% Other 160,488        77,506          (82,982)          48.3%54,815          22,691          141.4% Total operating revenue 4,537,730    1,437,952    (3,099,778)     31.7%1,110,706    327,246        ‐279.1% Operating expenses Personnel services 1,090,312    548,383        541,929         50.3% 541,949        (6,434)           101.2% Commodities 348,183        123,013        225,170         35.3% 142,649        19,636          86.2% Other charges and services 1,239,664    362,008        877,657         29.2% 388,461        26,454          93.2% Major Maintenance 1,731,019    204,497        1,526,522      11.8%200,562        (3,935)           102.0% Total operating expenses 4,409,178    1,237,900    3,171,278      28.1%1,273,621    35,721          97.2% Operating income (loss)128,552        200,052        71,500           (162,915)      (362,967)      ‐122.8% Non‐operating revenue (expense) Intergovernmental 1,632            816               (816)               50.0% 816                ‐                    100.0% Investment income 18,016          17,085          (931)               94.8% 10,712          (6,373)           159.5% Disposal of assets 10,000           ‐                    (10,000)          0.0%‐                     ‐                    0.0% Capital outlay (107,242)      (2,472)           104,770         2.3% (36,258)        (33,786)        6.8% Bond proceeds 1,094,952     ‐                    (1,094,952)     0.0%‐                     ‐                    0.0% Debt Service (759,668)      (429,947)      329,721         56.6% (297,899)      132,048        144.3% Transfers in (out)(139,244)      (69,622)        69,622           50.0%(74,309)        (4,687)           93.7% Total non‐operating (net)118,446        (484,140)      (602,586)        ‐408.7%(396,938)      87,202          122.0% Change in working capital 246,998        (284,088)      (531,086)        (559,853)      (275,765)      50.7% Beginning working capital 4,556,045    7,064,724    2,508,679      5,539,010    (1,525,714)   127.5% Ending working capital 4,803,043$  6,780,636$  1,977,593$    4,979,157$  (1,801,479)   136.2% Variance from 2016 Actual Positive (Negative) CITY OF LAKEVILLE, MINNESOTA Comparative For the Six Month Period Ended June 30, 2017 Statement of Revenues, Expenditures and Changes in Net Assets Enterprise ‐ Utility Fund Water Operation 7 Unaudited 2017 Percent Adopted of 6/30/2016 Budget Actual Variance Budget Actual Operating revenue User charges for services 5,638,031$  2,787,588$  (2,850,443)$  49.4%2,493,585$  294,003$     111.8% Operating expenses Personnel services 817,174        373,347        443,827         45.7% 325,338        (48,009)        114.8% Commodities 89,742          34,069          55,673           38.0% 29,628          (4,440)           115.0% Other charges and services 322,728        119,789        202,939         37.1% 151,523        31,734          79.1% Disposal charges 3,509,576    1,754,790    1,754,786      50.0% 1,631,766    (123,024)      107.5% Major maintenance projects 545,000        28,682          516,318         5.3%136,925        108,243        20.9% Total operating expenses 5,284,220    2,310,677    2,973,543      43.7%2,275,180    (35,496)        101.6% Operating income (loss)353,811        476,911        123,100         218,405        (258,507)      218.4% Non‐operating revenue (expense) Intergovernmental State aid 1,632            816               (816)               50.0% 816                ‐                    100.0% Investment income 11,388          9,000            (2,388)            79.0% 8,388            (612)              107.3% Disposal of assets 24,000           ‐                    (24,000)          0.0% 125,000        125,000        0.0% Capital outlay (332,947)      (2,472)           330,475         0.7% (476,153)      (473,681)      0.5% Debt service (21,425)        (12,127)        9,298              56.6%‐                    12,127          0.0% Transfers in 23,873          23,873           ‐                      100.0% 19,260          (4,613)           124.0% Transfers (out)(143,628)      (71,814)        (71,814)          50.0%(76,079)        (4,265)           94.4% Total non‐operating (net)(437,107)      (52,724)        384,383         12.1%(398,768)      (346,044)      13.2% Change in working capital (83,296)        424,187        507,483         (180,363)      (604,550)       ‐235.2% Beginning working capital 1,361,527    2,351,239    989,712         2,493,278    142,039        94.3% Ending working capital 1,278,231$  2,775,426$  1,497,195$    2,312,915$  (462,511)      120.0% Variance from 2016 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Net Assets For the Six Month Period Ended June 30, 2017 Enterprise ‐ Utility Fund Sanitary Sewer Operation 8 Unaudited 2017 Percent Adopted of 6/30/2016 Budget Actual Variance Budget Actual Operating revenue User charges for services 810,000$   424,934$  (385,066)$  52.5%403,560$  21,374$       105.3% Operating expenses Personnel services 18,262        6,868         11,394        37.6% 6,841         (27)               100.4% Commodities 31               12              19                40.0% 15              3                   82.7% Other charges and services 723,984     356,017    367,967      49.2% 341,515    (14,502)        104.2% Major Maintenance 400,000     ‐                 400,000      0.0%‐                 ‐                    0.0% Total operating expenses 1,142,277  362,897    779,380      31.8%348,371    (14,526)        104.2% Operating income (loss)(332,277)    62,037      394,314      55,189      35,900         112.4% Non‐operating revenue (expense) Investment income 1,608          1,125         (483)            70.0% 616            (509)             182.6% Bond proceeds 400,000      ‐                 (400,000)    0.0%‐                  ‐                    0.0% Transfers in (out) ‐ General Fund (4,384)        (2,192)       2,192          50.0%(1,769)       423              123.9% Total non‐operating (net)397,224     (1,067)       (398,291)    ‐0.3%(1,153)       (86)               92.5% Change in working capital 64,947        60,970      (3,977)         54,036      35,814         112.8% Beginning working capital 271,334     318,786    47,452        205,936    318,786       154.8% Ending working capital 336,281$   379,756$  43,475$      259,972$  354,600$    146.1% Variance from 2016 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Net Assets For the Six Month Period Ended June 30, 2017 Enterprise ‐ Utility Fund Street Light Operation 9 Unaudited 2017 Percent Adopted of 6/30/2016 Budget Actual Variance Budget Actual Revenues User charges for services 983,370$   493,018$     (490,352)$    50.1% 409,299$     83,719$          120.5% Charges for services ‐ Recycling 4,642          2,660            (1,982)           57.3%‐                    2,660              0.0% Total revenues 988,012     495,678        (450,416)      50.2%409,299        (859,715)        ‐110.0% Expenditures ‐ Public works Personnel services 311,912     179,450        132,462        57.5% 117,103        (62,347)           153.2% Commodities 32,894        21,520          11,374          65.4% 21,139          (381)                101.8% Other charges and services 858,548     99,925          758,623        11.6%46,701          (53,224)           214.0% Total expenditures 1,203,354  300,894        902,460        25.0%184,943        (115,951)        162.7% Operating income (loss)(215,342)    194,784        410,126        224,356        (743,764)        86.8% Non‐operating revenue (expense) Intergovernmental 125,000      ‐                    (125,000)      0.0% 65,824          65,824            0.0% Investment income 5,965          2,500            (3,465)           41.9% 3,097            597                 80.7% Capital outlay ‐                   ‐                     ‐                    0.0% 8,082            8,082              0.0% Transfers in (out) General Fund (168,094)    (127,411)      40,683          75.8% (113,165)      14,246            112.6% Equipment Fund (31,000)      (31,000)         ‐                    100.0% (31,000)         ‐                       100.0% Storm Sewer Trunk Fund 110,000     110,000         ‐                    100.0%‐                    (110,000)        0.0% Liquor Fund 2,275           ‐                    (2,275)           0.0% 1,348            1,348              0.0% Sanitary sewer operations (23,873)      (23,873)        ‐                    100.0%(19,260)        4,613              124.0% Total other financing (uses)20,273        (69,784)        (90,057)        ‐344.2%(85,074)        (15,290)           82.0% Change in working capital (195,069)    125,000        320,069        139,282        (759,054)        89.7% Beginning working capital 433,220     1,075,032    641,812        709,265        1,334,775       151.6% Ending working capital 238,151$   1,200,032$  961,881$     848,547$     575,721$        141.4% Variance from 2016 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Net Assets For the Six Month Period Ended June 30, 2017 Enterprise ‐ Utility Fund Environmental Resources Operation 10