HomeMy WebLinkAboutItem 2ai
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, 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 nine months compares to the same period in 2016
and the 2017 Adopted Budget:
YTD 3rd 2017 YTD 3rd
Quarter Adopted Quarter
Permit Type 2016 Budget 2017
Single Family 279 300 346
Townhome 59 50 62
Apartments (Units) 8 (98 Units) (195 Units) 2 (196 Units)
Commercial 9 5 7
Intergovernmental.
Police state aid revenue of $451,000 is under budget estimates by $8,000, but is a $23,000
increase over 2016. Fire state aid revenue of $347,000 exceeds budget estimates by $7,000
and is slightly above 2016.
Other grant revenues through the third quarter amounted to $193,000.
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.
ii
FINANCIAL HIGHLIGHTS (continued):
General Fund ‐ Revenues (Continued)
Charges for Services. (Continued)
Public works revenues for engineering services in connection with developer construction
administration are down from the same period last year resulting from fewer new
developments in 2017 compared to the same period in 2016. $669,000 has been
recognized from City improvement projects.
Parks and Recreation revenues are slightly above budget estimates and the prior year.
Court Fines
• Revenues from court fines ($323,000) represent 69 percent of the budget estimates and
are up $7,000 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 potentially 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 in the middle of the year.
Motor Fuels – The new State of Minnesota fuel contract began February 2017. Motor fuels
through September 30 are at 74 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 third 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 64 percent of the adopted budget.
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.
Community and Economic Development. Salaries are slightly below budget estimates due to a
short vacancy during 2017. Professional services included funds for a downtown development
guide update. This update will be partially completed in 2017 and finalized in 2018.
Inspections. Contractual electrical inspections are exceeding budget estimate resulting from
the increases in building permits. This is offset by an increase in revenues. An additional
building inspector was hired in July. The budget was amended to reflect the additional costs.
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.
Human Resources. Professional service for the Classification and Compensation study and
other projects will be incurred in the last quarter of 2017.
Engineering: Contracted engineering fees are running significantly below budget. The
Transportation Plan Update ($80,000) appropriated in 2017 will extend into 2018. The Dakota
County Principal Arterial Study ($45,000) will not be a city expense.
Construction Services (formally called Operations and Maintenance). 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.
iv
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.
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.
Liquor Fund
Sales for the first three quarters amounted to $10.6 million which is a 3.9 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.
v
FINANCIAL HIGHLIGHTS (continued):
Water Fund
Water revenues are up $681,000 or 24.7 percent over the same period 2016. The summer of
2017 was relatively wet, which will likely keep revenues low. The rate increase in February
2017 contributed to the increase in revenues.
Water main repair/replacement costs are projected to be $1.0 million for the 2017 street
reconstruction project.
Water meter replacement projects are anticipated to be $397,000 of which $284,000 has been
spent year‐to‐date.
Water tower cleaning and inspections are budgeted at $59,000, and well rehabilitations are
budgeted at $180,000.
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 up slightly over the prior year, but are below budget expectations as the
number of repairs has been lower than anticipated. The Met Council disposal charges are
$184,000 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;
$21,000 has been collected with final plats through September 30, 2017.
Streetlight rates were increased effective February 1, 2017.
2017 electrical costs are in line with budget estimates.
The downtown construction project is underway and the street light portion will be completed
in the fourth quarter 2017.
vi
FINANCIAL HIGHLIGHTS (continued):
Environmental Resources Fund
Revenues are tracking with budget estimates. Environmental Resources fees are also collected
at the time of final plat; $22,000 has been collected with final plats through September 30,
2017.
Rates were increased effective February 1, 2017.
A number projects commencing in the fall will extend into 2018. Appropriations have been
reallocated in the latest budget.
Unaudited
2017 2017 Variance from
Adopted Amended 9/30/17 Amended Budget Actual 9/30/2016
Budget Budget Actual Positive (Negative)Percent Actual
Revenues
General property taxes 18,833,557$ 18,833,557$ 9,784,500$ (9,049,057)$ 52.0% 9,534,873$ 249,627$ 102.6%
Licenses and permits 2,202,952 2,268,952 2,506,395 237,443 110.5% 2,272,272 234,123 110.3%
Intergovernmental 1,021,685 1,021,685 1,002,278 (19,407) 98.1% 936,211 66,067 107.1%
Charges for services 2,666,697 2,666,697 2,093,284 (573,413) 78.5% 2,545,319 (452,035) 82.2%
Court fines 466,000 466,000 323,044 (142,956) 69.3% 315,867 7,177 102.3%
Investment income 90,071 90,071 68,693 (21,379) 76.3% 48,085 20,608 142.9%
Miscellaneous 37,860 41,810 37,888 (3,922) 90.6%37,323 565 101.5%
Total revenues 25,318,822 25,388,772 15,816,082 (9,572,691) 62.3%15,689,950 126,132 100.8%
Expenditures
Mayor and Council 101,090 101,090 85,419 15,671 84.5% 84,403 (1,016) 101.2%
Committees and Commissions 75,660 75,660 80,958 (5,298) 107.0% 72,310 (8,649) 112.0%
City Administration 423,147 423,147 304,439 118,708 71.9% 319,505 15,065 95.3%
City Clerk 139,774 139,774 108,031 31,743 77.3% 118,054 10,023 91.5%
Legal Counsel 57,000 57,000 57,320 (320) 100.6% 41,543 (15,777) 138.0%
Planning 564,262 564,262 381,148 183,115 67.5% 347,360 (33,788) 109.7%
Community and Econ. Development 358,272 358,272 219,121 139,152 61.2% 216,155 (2,966) 101.4%
Inspections 1,061,584 1,127,584 831,761 295,824 73.8% 810,887 (20,874) 102.6%
General Government Facilities 529,611 529,611 377,444 152,168 71.3% 360,173 (17,271) 104.8%
Finance 759,615 759,615 570,002 189,613 75.0% 519,754 (50,248) 109.7%
Information Systems 620,742 620,742 461,653 159,089 74.4% 471,471 9,818 97.9%
Human Resources 520,626 520,626 337,972 182,654 64.9% 397,090 59,118 85.1%
Insurance 182,180 182,180 213,750 (31,570) 117.3% 136,635 (77,115) 156.4%
Police 10,493,244 10,493,244 7,563,834 2,929,410 72.1% 7,276,666 (287,168) 103.9%
Fire 1,788,770 1,792,720 1,410,516 382,205 78.7% 1,359,645 (50,871) 103.7%
Engineering 1,005,397 1,005,397 586,257 419,140 58.3% 509,109 (77,149) 115.2%
Construction Services 664,477 664,477 331,104 333,374 49.8% 416,746 85,642 79.4%
Streets 3,276,483 3,276,483 2,320,906 955,578 70.8% 2,299,240 (21,666) 100.9%
Parks 2,541,925 2,541,925 1,840,473 701,452 72.4% 1,790,754 (49,719) 102.8%
Recreation 672,981 672,981 512,760 160,221 76.2% 464,264 (48,496) 110.4%
Heritage Center 95,822 95,822 85,438 10,384 89.2% 68,009 (17,430) 125.6%
Arts Center 502,337 502,337 386,782 115,555 77.0%358,460 (28,323) 107.9%
Total expenditures 26,434,999 26,504,949 19,067,085 7,437,864 71.9%18,438,229 (628,856) 103.4%
Excess (deficiency) of revenues
over expenditures (1,116,177) (1,116,177) (3,251,004) (2,134,827) (2,748,279) (502,724)
Other financing sources (uses)
Transfer from other funds 782,655 782,655 608,672 (173,983) 77.8% 625,783 (17,111) 97.3%
Transfer to other funds (1,145,000) (1,145,000) (1,145,000) ‐ 100.0%(50,000) (1,095,000) 2290.0%
Total other financing sources (uses) (362,345) (362,345) (536,328) (173,983) 575,783 (1,112,111) ‐93.1%
Net change in fund balance (1,478,522) (1,478,522) (3,787,332) (2,308,810) (2,172,496) (1,614,835)
Beginning fund balance 14,121,784 14,121,784 15,076,500 954,716 12,374,928 2,701,572
Ending fund balance 12,643,262$ 12,643,262$ 11,289,169$ (1,354,094)$ 10,202,432$ 1,086,737$
Expense Summary:
Personnel services 19,412,029 19,453,029 14,086,645 5,366,384 72.4%13,744,861 (341,784) 102.5%
Commodities 1,907,045 1,910,995 1,367,362 543,633 71.6%1,273,804 (93,558) 107.3%
Other charges and services 5,071,790 5,075,790 3,569,773 1,506,017 70.3%3,376,236 (193,537) 105.7%
Capital outlay 44,135 65,135 43,305 21,830 66.5%43,328 23 99.9%
26,434,999 26,504,949 19,067,085 7,437,864 71.9%18,438,229 (628,856) 103.4%
Variance from
2016 Actual
Positive (Negative)
General Fund
Summary Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2017
Comparative
1
Unaudited
General Fund
Schedule of Expenditures
2017 2017 Variance from
Adopted Amended 9/30/17 Adopted Budget Actual 9/30/2016
Expenditures Budget Budget Actual Positive (Negative)Percent Actual
Mayor and Council
Personnel services 49,151$ 49,151$ 38,030$ 11,121$ 77% 37,357$ (673)$ 101.8%
Commodities 50 50 ‐ 50 0%‐ ‐ 0.0%
Other charges and services 51,889 51,889 47,389 4,500 91%47,046 (343) 100.7%
Total 101,090 101,090 85,419 15,671 84%84,403 (1,016) 101.2%
Committees/Commissions
Personnel services 61,412 61,412 59,403 2,009 97% 53,376 (6,028) 111.3%
Commodities 1,530 1,530 1,646 (116) 108% 1,342 (304) 122.7%
Other charges and services 12,718 12,718 19,909 (7,191) 157%17,592 (2,317) 113.2%
Total 75,660 75,660 80,958 (5,298) 107%72,310 (8,649) 112.0%
City Administration
Personnel services 404,834 404,834 290,063 114,771 72% 301,745 11,681 96.1%
Commodities 800 800 679 121 85% 2,063 1,384 32.9%
Other charges and services 17,513 17,513 13,697 3,816 78% 11,245 (2,452) 121.8%
Capital outlay ‐ ‐ ‐ ‐ 0%4,452 4,452 0.0%
Total 423,147 423,147 304,439 118,708 72%319,505 15,065 95.3%
City Clerk
Personnel services 110,468 110,468 83,459 27,009 76% 84,023 564 99.3%
Commodities 200 200 45 155 23% 327 282 13.8%
Other charges and services 29,106 29,106 24,527 4,579 84% 33,704 9,177 72.8%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 139,774 139,774 108,031 31,743 77%118,054 10,023 91.5%
Legal Counsel
Other charges and services 57,000 57,000 57,320 (320) 101%41,543 (15,777) 138.0%
Planning
Personnel services 505,012 505,012 359,356 145,657 71% 313,969 (45,387) 114.5%
Commodities 3,329 3,329 838 2,491 25% 930 92 90.1%
Other charges and services 55,921 55,921 20,954 34,967 37% 32,461 11,507 64.6%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 564,262 564,262 381,148 183,115 68%347,360 (33,788) 109.7%
Community and Economic Development
Personnel services 284,506 284,506 198,187 86,320 70% 208,595 10,409 95.0%
Commodities 250 250 129 121 52% 111 (18) 116.2%
Other charges and services 73,516 73,516 20,805 52,711 28% 7,449 (13,356) 279.3%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 358,272 358,272 219,121 139,152 61%216,155 (2,966) 101.4%
Inspection
Personnel services 830,402 871,402 629,274 242,129 72% 620,264 (9,010) 101.5%
Commodities 12,627 12,627 6,914 5,713 55% 6,146 (768) 112.5%
Other charges and services 218,555 218,555 194,297 24,258 89% 184,477 (9,820) 105.3%
Capital outlay ‐ 25,000 1,276 23,724 5%‐ (1,276) 0.0%
Total 1,061,584 1,127,584 831,761 295,824 74%810,887 (20,874) 102.6%
(continued)
Comparative
Variance from
2016 Actual
Positive (Negative)
2
Unaudited
General Fund
Schedule of Expenditures
2017 2017 Variance from
Adopted Amended 9/30/17 Adopted Budget Actual 9/30/2016
Expenditures (continued)Budget Budget Actual Positive (Negative)Percent Actual
General Government Facilities
Personnel services 332,817$ 332,817$ 235,475$ 97,343$ 71% 223,993$ (11,482)$ 105.1%
Commodities 22,907 22,907 17,214 5,693 75% 8,353 (8,861) 206.1%
Other charges and services 173,887 173,887 124,755 49,132 72%127,827 3,072 97.6%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 529,611 529,611 377,444 152,168 71%360,173 (17,271) 104.8%
Finance
Personnel services 670,563 670,563 502,243 168,320 75% 455,721 (46,522) 110.2%
Commodities 4,229 4,229 1,982 2,247 47% 2,719 737 72.9%
Other charges and services 84,823 84,823 65,777 19,046 78% 59,966 (5,811) 109.7%
Capital outlay ‐ ‐ ‐ ‐ 0%1,348 1,348 0.0%
Total 759,615 759,615 570,002 189,613 75%519,754 (50,248) 109.7%
Information Systems
Personnel services 391,170 391,170 273,893 117,277 70% 294,141 20,248 93.1%
Commodities 6,276 6,276 2,220 4,056 35% 3,023 803 73.4%
Other charges and services 223,296 223,296 185,540 37,756 83% 174,307 (11,233) 106.4%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 620,742 620,742 461,653 159,089 74%471,471 9,818 97.9%
Human Resources
Personnel services 389,063 389,063 285,707 103,356 73% 336,886 51,179 84.8%
Commodities 1,340 1,340 1,549 (209) 116% 1,691 142 91.6%
Other charges and services 130,223 130,223 50,716 79,507 39% 57,165 6,449 88.7%
Capital outlay ‐ ‐ ‐ ‐ 0%1,348 1,348 0.0%
Total 520,626 520,626 337,972 182,654 65%397,090 59,118 85.1%
Insurance
Other charges and services 182,180 182,180 213,750 (31,570) 117%136,635 (77,115) 156.4%
Police
Personnel services 8,220,190 8,220,190 5,919,514 2,300,676 72% 5,757,226 (162,288) 102.8%
Commodities 411,866 411,866 288,458 123,408 70% 248,680 (39,778) 116.0%
Other charges and services 1,861,188 1,861,188 1,355,862 505,326 73% 1,245,317 (110,545) 108.9%
Capital outlay ‐ ‐ ‐ ‐ 0%25,443 25,443 0.0%
Total 10,493,244 10,493,244 7,563,834 2,929,410 72%7,276,666 (287,168) 103.9%
Fire
Personnel services 1,005,382 1,005,382 764,746 240,637 76% 720,419 (44,327) 106.2%
Fire Relief Contribution/State Aid 343,039 343,039 347,635 (4,596) 101% 345,276 (2,359) 100.7%
Commodities 153,922 157,872 97,151 60,721 62% 76,348 (20,803) 127.2%
Other charges and services 286,427 286,427 200,984 85,443 70% 217,602 16,618 92.4%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 1,788,770 1,792,720 1,410,516 382,205 79%1,359,645 (50,871) 103.7%
(continued)
Comparative
Variance from
2016 Actual
Positive (Negative)
3
Unaudited
General Fund
Schedule of Expenditures
2017 2017 Variance from
Adopted Amended 9/30/17 Adopted Budget Actual 9/30/2016
Expenditures (continued)Budget Budget Actual Positive (Negative)Percent Actual
Engineering
Personnel services 704,482$ 704,482$ 551,028$ 153,454$ 78% 480,293$ (70,736)$ 114.7%
Commodities 8,766 8,766 5,383 3,383 61% 2,695 (2,688) 199.7%
Other charges and services 292,149 292,149 29,846 262,303 10% 24,979 (4,867) 119.5%
Capital outlay ‐ ‐ ‐ ‐ 0%1,142 1,142 0.0%
Total 1,005,397 1,005,397 586,257 419,140 58%509,109 (77,149) 115.2%
Construction Services
Personnel services 614,951 614,951 290,718 324,234 47% 402,012 111,294 72.3%
Commodities 7,723 7,723 6,043 1,680 78% 4,073 (1,970) 148.4%
Other charges and services 14,318 14,318 4,292 10,026 30% 7,650 3,358 56.1%
Capital outlay 27,485 27,485 30,051 (2,566) 109%3,011 (27,040) 998.0%
Total 664,477 664,477 331,104 333,374 50%416,746 85,642 79.4%
Streets
Personnel services 2,011,988 2,011,988 1,406,965 605,024 70% 1,407,231 266 100.0%
Commodities 912,051 912,051 698,676 213,375 77% 690,116 (8,560) 101.2%
Other charges and services 352,444 352,444 215,265 137,179 61% 201,893 (13,372) 106.6%
Capital outlay ‐ ‐ ‐ ‐ 0%‐ ‐ 0.0%
Total 3,276,483 3,276,483 2,320,906 955,578 71%2,299,240 (21,666) 100.9%
Parks
Personnel services 1,785,414 1,785,414 1,321,026 464,388 74% 1,224,622 (96,404) 107.9%
Commodities 277,283 277,283 192,894 84,389 70% 179,958 (12,936) 107.2%
Other charges and services 475,478 475,478 323,828 151,650 68% 386,174 62,346 83.9%
Capital outlay 3,750 3,750 2,725 1,025 73%‐ (2,725) 0.0%
Total 2,541,925 2,541,925 1,840,473 701,452 72%1,790,754 (49,719) 102.8%
Recreation
Personnel services 393,149 393,149 283,302 109,847 72% 256,120 (27,182) 110.6%
Commodities 35,483 35,483 17,845 17,638 50% 16,346 (1,499) 109.2%
Other charges and services 244,349 244,349 211,613 32,736 87% 189,099 (22,514) 111.9%
Capital outlay ‐ ‐ ‐ ‐ 0%2,699 2,699 0.0%
Total 672,981 672,981 512,760 160,221 76%464,264 (48,496) 110.4%
Heritage Center
Personnel services 34,274 34,274 45,906 (11,632) 134% 32,952 (12,955) 139.3%
Commodities 12,663 12,663 5,074 7,589 40% 2,116 (2,958) 239.8%
Other charges and services 44,885 48,885 34,348 14,537 70% 32,941 (1,407) 104.3%
Capital outlay 4,000 ‐ 110 (110) 0%‐ (110) 0.0%
Total 95,822 95,822 85,438 10,384 89%68,009 (17,430) 125.6%
Arts Center
Personnel services 269,762 269,762 200,718 69,044 74% 188,644 (12,075) 106.4%
Commodities 33,750 33,750 22,622 11,128 67% 26,767 4,145 84.5%
Other charges and services 189,925 189,925 154,299 35,626 81% 139,164 (15,135) 110.9%
Capital outlay 8,900 8,900 9,143 (243) 103%3,885 (5,258) 235.3%
Total 502,337 502,337 386,782 115,555 77%358,460 (28,323) 107.9%
Variance from
2016 Actual
Positive (Negative)
Comparative
4
Unaudited
2017 2017 Percent
Adopted Amended 9/30/17 of 9/30/2016
Budget Budget Actual Variance Budget Actual
Revenues
Licenses franchise fee 676,131$ 676,131$ 507,770$ (168,361)$ 75.1% 510,142$ (2,372)$ 99.5%
PEG Fees 61,296 61,296 46,304 (14,992) 75.5% 45,848 456 101.0%
Intergovernmental State aid 516 516 ‐ (516) 0.0% 258 (258) 0.0%
Sale of Assets ‐ ‐ ‐ ‐ 0.0%‐
Investment income 3,497 3,497 1,195 (2,302) 34.2%2,686 (1,491) 44.5%
Total revenues 741,440 741,440 555,269 (186,171) 74.9%558,934 (3,665) 99.3%
Expenditures ‐ General government
Personnel services 358,759 358,759 260,671 98,089 72.7% 294,497 33,827 88.5%
Commodities 6,260 6,260 8,425 (2,165) 134.6% 2,003 (6,422) 420.6%
Other charges and services 156,544 202,662 101,336 101,326 50.0% 154,261 52,925 65.7%
Capital outlay 107,579 107,579 20,872 86,707 19.4%33,230 12,358 62.8%
Total expenditures 629,142 675,260 391,304 283,957 57.9%483,991 92,688 80.8%
Excess (deficiency) of revenues over
expenditures 112,298 66,180 163,966 97,786 247.8%74,943 89,023 218.8%
Other financing (uses) ‐ Transfers
From Liquor Fund (Comm/Mkt Position)‐ ‐ 14,315 14,315 0.0%‐ 14,315 0.0%
To General Fund (75,429) (75,429) (56,572) 18,857 75.0% (101,234) 44,662 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) (42,257) 33,172 56.0%(351,234) 308,977 12.0%
Net change in fund balance 36,869 (9,249) 121,709 130,958 (276,291) 398,000
Beginning fund balance 285,483 285,483 318,696 33,213 511,596 (192,900)
Ending fund balance 322,352$ 276,234$ 440,405$ 164,171$ 235,305$ 205,100$
Variance from
2016 Actual
Positive (Negative)
Comparative
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Fund Balances
For the Nine Month Period Ended September 30, 2017
Special Revenue ‐ Communications Fund
5
Unaudited
2017 Percent
Adopted 9/30/17 of 9/30/2016
Budget Actual Variance Budget Actual
Sales and cost of sales
Sales 14,045,802$ 10,553,525$ (3,492,277)$ 75.1% 10,159,614$ 393,911$ 103.9%
Cost of sales 10,605,816 7,957,583 2,648,233 75.0%7,657,927 (299,656) 103.9%
Gross profit 3,439,986 2,595,942 (844,044) 75.5%2,501,687 94,255 103.8%
Gross profit % 24.5% 24.6% 24.6%
Operating expenses
Personnel services 1,443,341 1,095,229 348,112 75.9% 1,041,395 (53,834) 105.2%
Commodities 70,710 36,756 33,954 52.0% 29,790 (6,966) 123.4%
Other charges and services 857,233 577,186 280,047 67.3%560,170 (17,016) 103.0%
Total operating expenses 2,371,284 1,709,171 662,113 72.1%1,631,355 (77,816) 104.8%
Operating income 1,068,702 886,771 (181,931) 83.0%870,332 16,439 101.9%
Non‐operating revenue (expense)
Investment income 3,744 2,813 (932) 75.1% 5,730 (2,918) 49.1%
Miscellaneous 7,500 1,881 (5,619) 25.1% 1,881 ‐ 100.0%
Capital outlay acquisitions (205,000) (48,577) 156,423 23.7% (54,465) 5,888 89.2%
Interest and bond expense (327,492) (294,469) 33,023 89.9% (281,813) (12,656) 104.5%
Transfers in (out)
General Fund (198,819) (149,114) 49,705 75.0% (129,728) (19,386) 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) (2,483) (208) 109.1%(1,348) (1,135) 184.2%
Total non‐operating (net)(1,068,702) (836,310) 232,392 78.3%(1,359,743) 523,433 61.5%
Change in working capital ‐ 50,461 50,461 (489,411) 539,872
Beginning working capital 1,206,463 1,289,347 82,884 1,501,519 (212,172)
Ending working capital 1,206,463$ 1,339,808$ 133,345$ 1,012,108$ 327,700$
Variance from
2016 Actual
Positive (Negative)
Comparative
CITY OF LAKEVILLE, MINNESOTA
Enterprise ‐ Liquor Fund
Statement of Revenues, Expenditures and Changes in Working Capital
For the Nine Month Period Ended September 30, 2017
6
Unaudited
2017 Percent
Adopted 9/30/17 of 9/30/16
Budget Actual Variance Budget Actual
Operating revenues
User charges for services 4,377,242$ 3,445,331$ (931,911)$ 78.7% 2,763,968$ 681,363$ 124.7%
Other 160,488 212,425 51,937 132.4%82,626 129,799 257.1%
Total operating revenue 4,537,730 3,657,756 (879,974) 80.6%2,846,594 811,162 ‐30.9%
Operating expenses
Personnel services 1,090,312 829,276 261,036 76.1% 819,277 (9,999) 101.2%
Commodities 348,183 203,031 145,152 58.3% 208,314 5,283 97.5%
Other charges and services 1,239,664 720,428 519,236 58.1% 820,035 99,607 87.9%
Major Maintenance 1,731,019 1,250,194 480,825 72.2%6,338,822 5,088,628 19.7%
Total operating expenses 4,409,178 3,002,929 1,406,249 68.1%8,186,448 5,183,519 36.7%
Operating income (loss)128,552 654,827 526,275 (5,339,854) 5,994,681 ‐12.3%
Non‐operating revenue (expense)
Intergovernmental 1,632 816 (816) 50.0% 1,968 (1,152) 41.5%
Investment income 18,016 25,628 7,612 142.2% 24,029 1,599 106.7%
Disposal of assets 10,000 ‐ (10,000) 0.0%‐ ‐ 0.0%
Capital outlay (107,242) (44,671) 62,571 41.7% (54,386) 9,715 82.1%
Bond proceeds 1,094,952 960,898 (134,054) 87.8% 6,648,012 (5,687,114) 14.5%
Debt Service (759,668) (759,668) ‐ 100.0% (399,896) (359,772) 190.0%
Transfers in (out)(139,244) (104,433) 34,811 75.0%(111,464) 7,031 93.7%
Total non‐operating (net)118,446 78,570 (39,877) 66.3%6,108,263 (6,029,694) 1.3%
Change in working capital 246,998 733,397 486,399 768,409 (35,012) 95.4%
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$ 7,798,121$ 2,995,078$ 6,307,419$ 1,490,702 123.6%
Variance from
2016 Actual
Positive (Negative)
CITY OF LAKEVILLE, MINNESOTA
Comparative
For the Nine Month Period Ended September 30, 2017
Statement of Revenues, Expenditures and Changes in Working Capital
Enterprise ‐ Utility Fund Water Operation
7
Unaudited
2017 Percent
Adopted 9/30/17 of 9/30/16
Budget Actual Variance Budget Actual
Operating revenue
User charges for services 5,638,031$ 4,208,511$ (1,429,520)$ 74.6%3,769,557$ 438,954$ 111.6%
Operating expenses
Personnel services 817,174 549,100 268,074 67.2% 494,151 (54,949) 111.1%
Commodities 89,742 42,809 46,933 47.7% 39,640 (3,169) 108.0%
Other charges and services 322,728 158,321 164,407 49.1% 164,589 6,268 96.2%
Disposal charges 3,509,576 2,632,185 877,391 75.0% 2,447,649 (184,536) 107.5%
Major maintenance projects 545,000 713,748 (168,748) 131.0%439,637 (274,111) 162.3%
Total operating expenses 5,284,220 4,096,163 1,188,057 77.5%3,585,666 (510,497) 114.2%
Operating income (loss)353,811 112,348 (241,463) 183,891 (71,543) 61.1%
Non‐operating revenue (expense)
Intergovernmental State aid 1,632 816 (816) 50.0% 816 ‐ 100.0%
Investment income 11,388 13,500 2,112 118.5% 13,125 375 102.9%
Disposal of assets 24,000 ‐ (24,000) 0.0% 125,000 (125,000) 0.0%
Capital outlay (332,947) (36,800) 296,147 11.1% (476,153) 439,353 7.7%
Bond proceeds ‐ ‐ ‐ 0.0% 566,296 (566,296) 0.0%
Debt service (21,425) (21,425) ‐ 100.0%‐ (21,425) 0.0%
Transfers in 23,873 23,873 ‐ 100.0% 19,260 4,613 124.0%
Transfers (out)(143,628) (107,721) 35,907 75.0%(114,118) 6,397 94.4%
Total non‐operating (net)(437,107) (127,757) 309,350 29.2%134,227 (261,984) ‐95.2%
Change in working capital (83,296) (15,409) 67,887 318,118 (333,526) ‐4.8%
Beginning working capital 1,361,527 2,351,239 989,712 2,493,278 (142,039) 94.3%
Ending working capital 1,278,231$ 2,335,830$ 1,057,599$ 2,811,396$ (475,565)$ 83.1%
Variance from
2016 Actual
Positive (Negative)
Comparative
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Working Capital
For the Nine Month Period Ended September 30, 2017
Enterprise ‐ Utility Fund Sanitary Sewer Operation
8
Unaudited
2017 Percent
Adopted 9/30/17 of 9/30/2016
Budget Actual Variance Budget Actual
Operating revenue
User charges for services 810,000$ 644,195$ (165,805)$ 79.5%604,823$ 39,372$ 106.5%
Operating expenses
Personnel services 18,262 11,466 6,796 62.8% 7,023 (4,443) 163.3%
Commodities 31 20 11 65.6% 16 (4) 127.1%
Other charges and services 723,984 537,912 186,072 74.3% 518,103 (19,809) 103.8%
Major Maintenance 400,000 ‐ 400,000 0.0%‐ ‐ 0.0%
Total operating expenses 1,142,277 549,397 592,880 48.1%525,142 (24,255) 104.6%
Operating income (loss)(332,277) 94,798 427,075 79,681 15,117 119.0%
Non‐operating revenue (expense)
Investment income 1,608 1,688 80 104.9% 970 718 174.0%
Bond proceeds 400,000 394,553 (5,447) 98.6%‐ 394,553 0.0%
Transfers in (out) ‐ General Fund (4,384) (3,288) 1,096 75.0%(2,654) (634) 123.9%
Total non‐operating (net)397,224 392,953 (4,272) 98.9%(1,684) 394,637 ‐23334.5%
Change in working capital 64,947 487,750 422,803 77,997 409,753 625.3%
Beginning working capital 271,334 318,786 47,452 205,936 112,850 154.8%
Ending working capital 336,281$ 806,536$ 470,255$ 283,933$ 522,603$ 284.1%
Variance from
2016 Actual
Positive (Negative)
Comparative
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Working Capital
For the Nine Month Period Ended September 30, 2017
Enterprise ‐ Utility Fund Street Light Operation
9
Unaudited
2017 Percent
Adopted 9/30/17 of 9/30/2016
Budget Actual Variance Budget Actual
Revenues
User charges for services 983,370$ 742,650$ (240,720)$ 75.5% 605,884$ 136,766$ 122.6%
Charges for services ‐ Recycling 4,642 2,660 (1,982) 57.3%2,824 (164) 94.2%
Total revenues 988,012 745,310 (242,702) 75.4%608,708 136,602 ‐39.9%
Expenditures ‐ Public works
Personnel services 311,912 267,553 44,359 85.8% 199,186 (68,367) 134.3%
Commodities 32,894 23,829 9,065 72.4% 26,131 2,302 91.2%
Other charges and services 858,548 215,054 643,494 25.0%145,111 (69,943) 148.2%
Total expenditures 1,203,354 506,435 696,919 42.1%370,428 (136,007) 136.7%
Operating income (loss)(215,342) 238,875 454,217 238,280 595 100.2%
Non‐operating revenue (expense)
Intergovernmental 125,000 ‐ (125,000) 0.0% 63,000 (63,000) 0.0%
Investment income 5,965 7,500 1,535 125.7% 4,242 3,258 176.8%
Capital outlay ‐ ‐ ‐ 0.0% (10,337) 10,337 0.0%
Transfers in (out)‐
General Fund (168,094) (147,753) 20,341 87.9% (127,953) (19,800) 115.5%
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 (85,126) (105,399) ‐419.9%(119,960) 34,834 71.0%
Change in working capital (195,069) 153,749 348,818 118,320 35,429 129.9%
Beginning working capital 433,220 1,075,032 641,812 709,265 365,767 151.6%
Ending working capital 238,151$ 1,228,781$ 990,630$ 827,585$ 401,196$ 148.5%
Variance from
2016 Actual
Positive (Negative)
Comparative
CITY OF LAKEVILLE, MINNESOTA
Statement of Revenues, Expenditures and Changes in Working Capital
For the Nine Month Period Ended September 30, 2017
Enterprise ‐ Utility Fund Environmental Resources Operation
10