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HomeMy WebLinkAboutItem 4i        FINANCIAL HIGHLIGHTS:   The following financial report and analysis offers readers a narrative overview of the financial activities  of the City for the three‐month period ended March 31, 2018. 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 $20.1 million for 2018.     Licenses and Permits.     Building permit revenue continues to be strong. The Lee Lake Subdivision is a 120‐unit  apartment complex that was budgeted in 2018, but the permit was issued at the end of  2017. The following chart shows how the number of permits issued in the first quarter  compares to the same period in 2017 and the 2018 Adopted Budget:      TTD 1st  2018 First   Quarter Adopted Quarter Permit Type 2017 Budget 2018 Single Family 103 350 100 Townhome 7 70 7 Apartments (Units) 1 (49 units) 1 (120 units) 0 Commercial 0 10 0    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 below budget due mainly to lower planning and  inspection fees.   Public Safety revenues are in line with budget estimates. The addition of a School Resource  Officer at Century Middle School results in increased revenue from ISD 194. Security  services from Super Bowl LII amounted to $18,000. The fire contract with Eureka Township  ($40,170) is billed out in June of the current year.   ii      FINANCIAL HIGHLIGHTS (continued):    General Fund     ‐     Revenues (Continued)     Charges for Services. (Continued)   Public works revenues are based on summer construction projects and therefore year‐to‐ date revenues are below the annual estimates.   Parks and Recreation revenues are exceeding budget estimates and are up $26,440 over  the same period in 2017.      Court Fines  • Revenues from court fines ($88,000) represent 21 percent of the budget estimates and are  down $34,000 over the period in 2017. The decrease is a result of fewer traffic stops. It  should be noted that this also decreases the CAD call numbers used by the Dakota  Communications Center to allocate the membership fees.      General Fund     ‐     Expenditures     Motor Fuels – Motor fuels through March 31, are at 29 percent of the 2018 Budget. Motor  fuels are $34,000 higher than the same period in 2017. Increased snow events for the public  works departments contributed to the higher fuel expense. The       Street Chemicals – Costs for the first part of 2018 are at 100 percent of the budget. Unused  chemicals are stored at the central maintenance facility and will be utilized in the late fall if  needed.       Utilities – Electric & Natural Gas. Costs are fairly consistent with the same period in 2017. Total  costs through the first quarter represent 25 percent of the adopted budget.      City Administration. The 2018 budget includes $15,000 for the community survey, of which   $9,900 has been spent year‐to‐date. Appropriations ($15,000) for the Envision Lakeville update  are also included in the 2018 budget.      City Clerk‐Elections. 2018 is an election year. Cost for the elections will not be incurred until  late in the 3rd quarter and into the 4th quarter.         iii    FINANCIAL HIGHLIGHTS (continued):    General Fund     ‐     Expenditures (continued)       Planning. Salaries are up over the same period in 2017 due to the new Planning Assistant/Code  Enforcement position that started after the 1st quarter in 2017.      Community and Economic Development. Budget appropriations are included for the  Economic Development Guide ($34,500) as well as funding for the DARTS program ($10,200)  that began at the end of 2017. Both expenditures are covered 100% by grant funding.       Inspections. Salaries are up over the same period in 2017 due to creating a new Building  Inspector position that started in July 2017.      General Government Facilities. Personnel Services are up compared to 2017 due to the hiring  of an additional facility attendant in 2018.     Human Resources. Contractual services are up due to expenses for the Employee  Compensation and Classification Study.      Police. DCC membership fees for the 1st quarter are up $35,000 over the same period in 2017  as a result of increased CAD events in prior years.      Engineering/GIS. Contractual services are up over the prior year due to increased engineering  services as well as consultant services for GIS.      Operations & Maintenance. Personnel services are below budget estimates due to employee  vacancies. Personnel services are up over the same period in 2017 due to the lower number of  vacancies in 2018 compared to 2017.     Streets. Personnel services are up compared to budget and the prior year due in part to the  increased snow events in 2018. Salt costs are at 100% of the budget and likely would have  exceeded budget by this time if it were not for the large inventory that was on hand from the  prior winter season.      Parks. Personnel services are up compared to the same period in 2017 and is the result of a  longer ice rink season and additional hours spent on snow removal in the parks and trails. Costs  are in line with budget appropriations.     iv    FINANCIAL HIGHLIGHTS (continued):    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 first quarter  franchise fees have not been received and the amount was estimated based on historical  numbers. Revenues are anticipated to remain consistent with prior years.      Expenses are up over the same period in 2017 due to the addition of a Marketing Specialist in  July of 2017. The position is 100 percent funded by a transfer from the Liquor Fund for the first  two years. There are $342,000 in budget appropriations for the third phase of the fiber  installation project. The project is funded by transfers from the General Fund, Liquor Fund and  the Utility Fund. Phase II of the fiber project ($234,000) was budgeted in 2017. The project has  been delayed to 2018. Funding from the General Fund, Liquor Fund and Utility Fund was  transferred in 2017 and is reflected in the beginning fund balance. The budget also includes a  transfer ($175,000) to the Improvement Construction Fund to fund the cost of fiber installation  to be completed in conjunction with the installation of an advanced traffic management  system along the 160th Street and Pilot Knob road corridors.      Capital outlay acquisitions include replacement of the edit station and council chamber  cameras.      Liquor Fund       Sales for the first quarter amounted to $3.2 million which is a 13 percent increase over the  same period in 2017. The increase can be attributed to the Kenrick store being closed in 2017  for 4 days due to renovations; Easter falling in the second quarter in 2017; the Super Bowl in  Minnesota; and the Olympics.      Total expenditures are tracking slightly below budget appropriations.      The sale of the Kenrick store is anticipated in the second quarter.     2018 Transfers include a $250,000 transfer to the Equipment Fund. This transfer had been  eliminated in 2017 upon review of the Fund’s reserve level.       v    FINANCIAL HIGHLIGHTS (continued):       Water Fund     Water revenues are low in the first quarter which is typical for the first quarter but are  exceeding revenues from the same period a year ago due mainly to the water rate increase  that went in affect February 1, 2018. Water usage increases as residents and businesses turn  on their irrigation systems in late spring.     The 2018 major maintenance projects are budgeted as follows:   Water Treatment Facility replacement of air‐handling units ‐ $74,000.   Water Treatment Facility building automation controls ‐ $13,500    2018 Street reconstruction project – watermain repair/replacement costs ‐ $1.07 million.  Updated costs following contract approval amounted to $1.23 million   Water meter replacement projects ‐ $335,357; $29,000 has been spent year‐to‐date.    Well #3 rehabilitation ‐ $60,000.   Filter backwash pump rehabilitation ‐ $45,000.   Water tower cleaning, inspection, painting and repairs (Michaud Park water tower)  $395,000.       Sewer Fund     Sewer revenues are tracking with budget expectations and are up over the same period in 2017  as a result of the increase in sewer rates for the base charge and discharge effective February  1, 2018.       Expenditures are below budget estimates and down compared to the same period in 2017.     Disposal charges paid to Metropolitan Council of Environmental Services increased 14.5  percent over the 2017 rates and are projected to be $4.0 million for 2018      The 2018 major maintenance projects are budgeted as follows:   Lift station rehabilitation ‐ $45,000.   Sewer line improvements ‐ $250,000.   I/I mitigation repairs ‐$375,000.      vi    FINANCIAL HIGHLIGHTS (continued):       Street Lighting Fund     Revenues are in line with budget. Street light fees are also collected at the time of final plat  but were minimal for the first quarter.     Streetlight rates were increased effective February 1, 2018.       2018 electrical costs are in line with budget estimates.        Environmental Resources Fund     Revenues are tracking with budget estimates.      Rates were increased effective February 1, 2018.     Personnel services increased over the same period in 2017 due to the hiring of an  Environmental Resources Technician to assist with the growing number of environmental  projects.      Majority of projects are completed in the spring, summer and fall months which results in  lower expenses during the first quarter.     Unaudited 2018 Variance from Adopted 3/31/18 Amended Budget Actual 3/31/17 Budget Actual Positive (Negative)Percent Actual Revenues General property taxes 20,055,586$    6,991$               (20,048,595)$              0.0% 2,409$                 4,582$                290.2% Licenses and permits 2,356,882        598,671             (1,758,211)                   25.4% 594,196               4,475                   100.8% Intergovernmental 1,005,921        60,712               (945,209)                      6.0% 87,172                 (26,460)               69.6% Charges for services 2,926,300        458,097             (2,468,203)                   15.7% 436,362               21,735                105.0% Court fines 425,000            88,050               (336,950)                      20.7% 121,984               (33,934)               72.2% Investment income 90,071              22,898               (67,174)                        25.4% 22,898                 (1)                         100.0% Miscellaneous 47,303              12,808               (34,495)                        27.1%9,156                   3,652                   139.9%   Total revenues 26,907,063      1,248,227         (25,658,837)                4.6%1,274,177           (25,951)               98.0% Expenditures Mayor and Council 107,230            27,514               79,717                          25.7% 28,221                 708                      97.5% Committees and Commissions 87,600              4,245                 83,355                          4.8% 6,522                   2,277                   65.1% City Administration 478,570            120,811             357,759                       25.2% 100,746               (20,065)               119.9% City Clerk 201,157            29,095               172,062                       14.5% 39,779                 10,684                73.1% Legal Counsel 80,000              18,686               61,314                          23.4% 18,933                 247                      98.7% Planning 585,768            140,913             444,855                       24.1% 116,069               (24,844)               121.4% Community and Econ. Development 366,222            101,972             264,250                       27.8% 72,523                 (29,449)               140.6% Inspections 1,225,953        303,568             922,386                       24.8% 271,431               (32,137)               111.8% General Government Facilities 557,962            138,936             419,026                       24.9% 135,014               (3,923)                 102.9% Finance 781,534            195,887             585,647                       25.1% 189,556               (6,331)                 103.3% Information Systems 673,236            219,605             453,631                       32.6% 211,257               (8,348)                 104.0% Human Resources 511,685            124,450             387,236                       24.3% 117,005               (7,445)                 106.4% Insurance 285,000            71,250               213,750                       25.0% 71,250                  ‐                            100.0% Police 11,259,374      2,720,177         8,539,197                    24.2% 2,509,239           (210,938)             108.4% Fire 1,855,127        359,679             1,495,448                    19.4% 338,508               (21,172)               106.3% Engineering 974,588            210,299             764,289                       21.6% 181,504               (28,795)               115.9% Construction Services 587,152            90,904               496,248                       15.5% 50,737                 (40,167)               179.2% Streets 3,194,298        1,029,098         2,165,200                    32.2% 982,104               (46,995)               104.8% Parks 2,643,982        561,423           2,082,560                  21.2% 507,186              (54,236)              110.7% Recreation 700,028            153,839             546,189                       22.0% 146,419               (7,420)                 105.1% Heritage Center 129,549            26,118               103,431                       20.2% 26,082                 (37)                       100.1% Arts Center 510,370            167,265             343,105                       32.8% 173,490               6,226                   96.4% Other (43,090)             ‐                          (43,090)                        0.0%‐                            ‐                            0.0%   Total expenditures 27,753,295      6,815,733         20,937,562                  24.6%6,293,573           (522,160)             108.3% Excess (deficiency) of revenues over expenditures (846,232)           (5,567,506)        (4,721,274)                   (5,019,396)          (548,111)              Other financing sources (uses) Transfer from other funds 765,232            173,897             (591,335)                      22.7% 173,981               (84)                       100.0% Transfer to other funds (660,864)           (400,000)            260,864                       60.5%(1,145,000)          745,000              34.9% Total other financing sources (uses) 104,368            (226,103)            (330,471)                      (971,019)             744,916              23.3% Net change in fund balance (741,864)           (5,793,609)        (5,051,745)                   (5,990,415)          196,806               Beginning fund balance 14,288,353      15,217,019       928,666                       15,076,500         140,519               Ending fund balance 13,546,489$    9,423,410$       (4,123,079)$                9,086,085$         337,325$             Adj fund balance, Dec 31 (net of restricted )12,850,659$   8,727,580$      8,390,255$         Net change in fund balance percentage (5.2%)(38.1%)(39.7%) Ratio: Fund balance to CY expenditures 48.8% Ratio: Fund balance to NY expenditures 48.7% Expense Summary: Personnel services 20,593,713     4,974,898         15,618,815                 24.2%4,445,061           (529,838)            111.9% Commodities 1,723,195        581,970            1,141,225                   33.8%651,503              69,533                89.3% Other charges and services 5,440,118        1,258,864         4,181,254                   23.1%1,187,866           (70,998)              106.0% Capital outlay 39,359             ‐                         39,359                         0.0%9,143                   9,143                  0.0% 27,796,385     6,815,733         20,980,652                 24.5%6,293,573           (522,160)            108.3% Variance from 2017 Actual Positive (Negative) General Fund Summary Statement of Revenues, Expenditures and Changes in Fund Balances For the Three Month Period Ended March 31, 2018 Comparative 1 Unaudited General Fund Schedule of Expenditures 2018 Variance from Adopted 3/31/18 Adopted Budget Actual 3/31/17 Expenditures Budget Actual Positive (Negative)Percent Actual Mayor and Council Personnel services 49,041$            13,295$             35,747$                       27% 13,371$               77$                      99.4% Commodities 50                      90                       (40)                                180%‐                        (90)                       0.0% Other charges and services 58,139              14,129               44,010                          24%14,850                 721                      95.1% Total 107,230            27,514               79,717                          26%28,221                 708                      97.5% Committees/Commissions Personnel services 71,902              358                     71,544                          0% 490                       132                      73.1% Commodities 1,630                 ‐                      1,630                            0%‐                         ‐                       0.0% Other charges and services 14,068              3,887                 10,181                          28%6,032                   2,145                   64.4% Total 87,600              4,245                 83,355                          5%6,522                   2,277                   65.1% City Administration Personnel services 423,716            106,297             317,419                       25% 96,371                 (9,926)                 110.3% Commodities 1,200                8                         1,192                            1% 262                       254                      3.1% Other charges and services 52,154              14,506               37,648                          28% 4,113                   (10,393)               352.7% Capital outlay 1,500                ‐                      1,500                            0%‐                        ‐                       0.0% Total 478,570            120,811             357,759                       25%100,746               (20,065)               119.9% City Clerk Personnel services 115,980            28,141               87,839                          24% 28,058                 (83)                       100.3% Commodities 1,000                7                         993                               1%‐                        (7)                         0.0% Other charges and services 84,177              947                     83,230                          1% 11,721                 10,774                8.1% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 201,157            29,095               172,062                       14%39,779                 10,684                73.1% Legal Counsel Other charges and services 80,000              18,686               61,314                          23%18,933                 247                      98.7% Planning Personnel services 518,211            132,676             385,535                       26% 108,275               (24,401)               122.5% Commodities 2,291                141                     2,150                            6% 179                       38                        78.8% Other charges and services 65,266              8,096                 57,170                          12% 7,615                   (481)                     106.3% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 585,768            140,913             444,855                       24%116,069               (24,844)               121.4% Community and Economic Development Personnel services 294,620            71,898               222,722                       24% 69,523                 (2,375)                 103.4% Commodities 250                    19                       231                               8% 56                         37                        33.9% Other charges and services 71,352              30,055               41,297                          42% 2,944                   (27,111)               1020.9% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 366,222            101,972             264,250                       28%72,523                 (29,449)               140.6% Inspection Personnel services 973,050            235,752             737,299                       24% 205,353               (30,399)               114.8% Commodities 13,792              3,076                 10,716                          22% 1,438                   (1,638)                 213.9% Other charges and services 239,111            64,740               174,371                       27% 64,640                 (100)                     100.2% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 1,225,953        303,568             922,386                       25%271,431               (32,137)               111.8% (continued) Comparative Variance from 2016 Actual Positive (Negative) 2 Unaudited General Fund Schedule of Expenditures 2018 Variance from Adopted 3/31/18 Adopted Budget Actual 3/31/17 Expenditures (continued)Budget Actual Positive (Negative)Percent Actual General Government Facilities Personnel services 353,190$          92,119$             261,071$                     26% 82,582$               (9,538)$               111.5% Commodities 26,243              7,461                 18,782                          28% 8,076                   615                      92.4% Other charges and services 178,529            39,356               139,173                       22%44,356                 5,000                   88.7% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 557,962            138,936             419,026                       25%135,014               (3,923)                 102.9% Finance Personnel services 696,628            176,311             520,317                       25% 167,678               (8,634)                 105.1% Commodities 3,500                854                     2,646                            24% 1,311                   457                      65.1% Other charges and services 81,406              18,722               62,684                          23% 20,567                 1,845                   91.0% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 781,534            195,887             585,647                       25%189,556               (6,331)                 103.3% Information Systems Personnel services 430,046            104,279             325,767                       24% 95,184                 (9,095)                 109.6% Commodities 2,995                1,908                 1,087                            64% 651                       (1,257)                 293.1% Other charges and services 240,195            113,418             126,777                       47% 115,422               2,004                   98.3% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 673,236            219,605             453,631                       33%211,257               (8,348)                 104.0% Human Resources Personnel services 387,122            96,799               290,324                       25% 94,124                 (2,675)                 102.8% Commodities 2,913                476                     2,437                            16% 694                       218                      68.6% Other charges and services 121,650            27,175               94,475                          22% 22,187                 (4,988)                 122.5% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 511,685            124,450             387,236                       24%117,005               (7,445)                 106.4% Insurance Other charges and services 285,000            71,250               213,750                       25%71,250                 ‐                       100.0% Police Personnel services 8,843,216        2,097,158         6,746,058                    24% 1,938,582           (158,576)             108.2% Commodities 396,022            115,809             280,213                       29% 118,722               2,913                   97.5% Other charges and services 2,020,136        507,210             1,512,926                    25% 451,935               (55,275)               112.2% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 11,259,374      2,720,177         8,539,197                    24%2,509,239           (210,938)             108.4% Fire Personnel services 1,084,127        267,726             816,401                       25% 244,519               (23,208)               109.5% Fire Relief Contribution/State Aid 347,676            10,000               337,676                       3%‐                        (10,000)               0.0% Commodities 151,407            28,885               122,522                       19% 24,739                 (4,146)                 116.8% Other charges and services 271,917            53,068               218,849                       20% 69,250                 16,182                76.6% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 1,855,127        359,679             1,495,448                    19%338,508               (21,172)               106.3% (continued) Comparative Variance from 2016 Actual Positive (Negative) 3 Unaudited General Fund Schedule of Expenditures 2018 Variance from Adopted 3/31/18 Adopted Budget Actual 3/31/17 Expenditures (continued)Budget Actual Positive (Negative)Percent Actual Engineering Personnel services 745,625$          184,465$           561,161$                     25% 170,382$             (14,083)$             108.3% Commodities 8,476                661                     7,815                            8% 2,363                   1,702                   28.0% Other charges and services 220,487            25,174               195,314                       11% 8,759                   (16,415)               287.4% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 974,588            210,299             764,289                       22%181,504               (28,795)               115.9% Construction Services Personnel services 538,730            88,325               450,405                       16% 49,593                 (38,732)               178.1% Commodities 8,515                946                     7,569                            11% 441                       (505)                     214.5% Other charges and services 11,348              1,633                 9,715                            14% 703                       (930)                     232.3% Capital outlay 28,559              ‐                      28,559                          0%‐                        ‐                       0.0% Total 587,152            90,904               496,248                       15%50,737                 (40,167)               179.2% Streets Personnel services 2,120,785        634,272             1,486,513                    30% 523,144               (111,129)             121.2% Commodities 722,838            359,440             363,398                       50% 422,611               63,171                85.1% Other charges and services 350,675            35,386               315,289                       10% 36,349                 963                      97.4% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 3,194,298        1,029,098         2,165,200                    32%982,104               (46,995)               104.8% Parks  Personnel services 1,854,298        453,373             1,400,926                    24% 383,748               (69,624)               118.1% Commodities 291,804            43,506               248,298                       15% 53,787                 10,281                80.9% Other charges and services 492,080            64,544               427,536                       13% 69,651                 5,107                   92.7% Capital outlay 5,800                ‐                      5,800                            0%‐                        ‐                       0.0% Total 2,643,982        561,423             2,082,560                    21%507,186               (54,236)               110.7% Recreation Personnel services 399,504            97,402               302,102                       24% 88,404                 (8,998)                 110.2% Commodities 35,971              2,590                 33,381                          7% 2,903                   313                      89.2% Other charges and services 264,553            53,847               210,706                       20% 55,112                 1,265                   97.7% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 700,028            153,839             546,189                       22%146,419               (7,420)                 105.1% Heritage Center Personnel services 64,261              14,640               49,621                          23% 15,966                 1,326                   91.7% Commodities 12,578              2,617                 9,961                            21% 2,694                   77                        97.1% Other charges and services 52,710              8,861                 43,849                          17% 7,422                   (1,439)                 119.4% Capital outlay ‐                         ‐                      ‐                                0%‐                        ‐                       0.0% Total 129,549            26,118               103,431                       20%26,082                 (37)                       100.1% Arts Center Personnel services 281,985            69,614               212,371                       25% 69,716                 103                      99.9% Commodities 39,720              13,476               26,244                          34% 10,576                 (2,900)                 127.4% Other charges and services 185,165            84,175               100,990                       45% 84,055                 (120)                     100.1% Capital outlay 3,500                ‐                      3,500                            0%9,143                   9,143                   0.0% Total 510,370            167,265             343,105                       33%173,490               6,226                   96.4% Other financing uses ‐ transfers To Communications Fund (Fiber Project) 260,864             ‐                          260,864                       0% 260,864              0.0% To Building Fund 300,000            300,000              ‐                                     100% 200,000               (200,000)             150.0% To Trail Improvement Fund 100,000            100,000             ‐                                     100%‐                            ‐                            0.0% Total 660,864            400,000             260,864                       61%200,000               60,864                200.0% Variance from 2016 Actual Positive (Negative) Comparative 4 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Revenues Licenses franchise fee 688,473$  169,000$  (519,473)$  24.5% 168,294$     706$             100.4% PEG Fees 60,858      14,917      (45,941)       24.5% 15,437          (520)              96.6% Intergovernmental State aid 516             ‐                 (516)            0.0%‐                     ‐                0.0% Investment income 3,155         2,264         (891)            71.8%796               1,468            284.5% Total revenues 753,002    186,181    (566,821)    24.7%184,527        1,654            100.9% Expenditures ‐ General government Personnel services 446,728    106,222    340,506      23.8% 76,879          (29,343)        138.2% Commodities 9,279         3,634         5,645          39.2% 5,496            1,862            66.1% Other charges and services 488,930    31,766      457,164      6.5% 31,968          202               99.4% Capital outlay 51,350      6,557         44,793        12.8%17,733          11,176          37.0% Total expenditures 996,287    148,179    848,108      14.9%132,076        (16,103)        112.2% Excess (deficiency) of revenues over  expenditures (243,285)   38,002      281,287      ‐15.6%52,451          (14,449)        72.5% Other financing (uses) ‐ Transfers From Liquor Fund (Comm/Mkt Position) 87,525      21,881      (65,644)       25.0%‐                    21,881          0.0% From General Fund (fiber project) 260,864     ‐                 (260,864)    0.0%‐                     ‐                0.0% From Utility Fund (fiber project) 68,460       ‐                 (68,460)       0.0%‐                     ‐                0.0% From Liquor Fund (fiber project) 13,136       ‐                 (13,136)       0.0%‐                     ‐                0.0% To General Fund (expense allocations) (78,663)     (19,666)     58,997        25.0% (18,857)        (809)              104.3% To Improvement Construction Fund (175,000)   ‐                 175,000      0.0%‐                    ‐                0.0% Total other financing (uses)176,322    2,216         (174,107)    1.3%(18,857)        21,073          ‐11.7% Net change in fund balance (66,963)     40,218      107,181      33,594          6,624             Beginning fund balance 331,226    603,825    272,599      318,696        285,129         Ending fund balance 264,263$  644,043$  379,780$    352,290$     291,753$      Variance from 2017 Actual Positive (Negative) Comparative CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Fund Balances For the Three Month Period Ended March 31, 2018 Special Revenue ‐ Communications Fund 5 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Sales and cost of sales Sales 15,003,435$     3,242,250$        (11,761,185)$   21.6% 2,876,860$    365,390$       112.7% Cost of sales 11,307,073        2,439,125          8,867,948         21.6%2,172,191       (266,934)        112.3% Gross profit 3,696,362          803,125             (2,893,237)       21.7%704,669          98,456           114.0% Gross profit % 24.6% 24.8% 24.5% Operating expenses Personnel services 1,575,765          388,101             1,187,665         24.6% 373,880          (14,221)          103.8% Commodities 77,818               11,358               66,460              14.6% 12,224            866                 92.9% Other charges and services 1,037,408          170,007             867,402            16.4%167,481          (2,526)            101.5% Total operating expenses 2,690,991          569,465             2,121,526         21.2%553,585          (15,880)          102.9% Operating income 1,005,371          233,660             (771,711)           23.2%151,084          82,576           154.7% Non‐operating revenue (expense) Investment income 19,110               2,845                  (16,265)             14.9% 417                  2,428              682.3% Miscellaneous 7,500                   ‐                           (7,500)               0.0%‐                    ‐                  0.0% Capital outlay acquisitions (7,300)                 ‐                           7,300                0.0%‐                    ‐                  0.0% Sale of assets 2,625,000           ‐                           (2,625,000)       0.0%‐                    ‐                  0.0% Interest and bond expense ‐                            ‐                            ‐                         0.0% (31,490)           31,490           0.0% Transfers in (out) General Fund (194,866)            (48,717)              146,150            25.0% (49,705)           989                 98.0% Communications (Mktg Spec) (87,525)              (21,881)              65,644              25.0% (21,881)          0.0% Communications (Fiber) (13,136)               ‐                           13,136              0.0%‐                  0.0% Debt Service: CIP Bonds‐Police Station (300,000)            (300,000)             ‐                         100.0% (346,360)         46,360           86.6% Capital Projects: Equipment Fund (250,000)            (250,000)             ‐                         100.0%‐                   (250,000)        0.0% Enterprise Fund: Environmental Resources ‐ Recycling (3,050)                ‐                           3,050                0.0%‐                   ‐                  0.0% Total non‐operating (net)1,795,733          (617,753)            (2,413,486)       ‐34.4%(427,138)         (190,615)        144.6% Change in working capital 2,801,104          (384,093)            (3,185,197)       (276,054)         (108,039)         Beginning working capital 1,348,541          1,571,666          223,125            1,289,347       282,319          Ending working capital 4,149,645$        1,187,573$        (2,962,072)$     1,013,293$    174,280$        CITY OF LAKEVILLE, MINNESOTA Enterprise ‐ Liquor Fund Statement of Revenues, Expenditures and Changes in Working Capital For the Three Month Period Ended March 31, 2018 Variance from 2017 Actual Positive (Negative) Comparative 6 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Operating revenues User charges for services 4,536,178$       703,288$           (3,832,890)$  15.5% 630,685$     72,603$        111.5% Other 153,137             34,721               (118,416)        22.7%25,923          8,798            133.9% Total operating revenue 4,689,315          738,009             (3,951,306)     15.7%656,608        81,401          ‐601.8% Operating expenses Personnel services 1,197,884          270,926             926,958         22.6% 280,721        9,795            96.5% Commodities 326,275             63,476               262,799         19.5% 56,217          (7,259)           112.9% Other charges and services 1,233,995          158,058             1,075,937      12.8% 191,348        33,290          82.6% Major Maintenance 1,901,515          41,712               1,859,803      2.2%‐                    (41,712)        0.0% Total operating expenses 4,659,669          534,173             4,125,496      11.5%528,286        (5,887)           101.1% Operating income (loss)29,646               203,836             174,190         128,322        75,514          158.8% Non‐operating revenue (expense) Intergovernmental 1,632                  ‐                     (1,632)            0.0%‐                     ‐                    0.0% Investment income 31,486               12,500               (18,986)          39.7% 7,973            4,527            156.8% Disposal of assets 4,500                  ‐                          (4,500)            0.0%‐                     ‐                    0.0% Capital outlay (139,078)            (3,956)                135,122         2.8% (2,472)           (1,484)           160.0% Bond proceeds 1,066,190           ‐                          (1,066,190)     0.0%‐                     ‐                    0.0% Debt Service (1,109,305)        (865,828)            243,477         78.1% (18,645)        (847,183)      4643.8% Transfers (out)(425,605)            (125,991)            299,614         29.6%(34,811)        (91,180)        361.9% Total non‐operating (net)(570,180)            (983,275)            (413,095)        172.4%(47,955)        (935,320)      2050.4% Change in working capital (540,534)            (779,439)            (238,905)        80,367          (859,806)       ‐969.8% Beginning working capital 7,364,204          7,789,196          424,992         7,064,724    724,472        110.3% Ending working capital 6,823,670$       7,009,757$       186,087$       7,145,091$  (135,334)      98.1% Variance from 2017 Actual Positive (Negative) CITY OF LAKEVILLE, MINNESOTA Comparative For the Three Month Period Ended March 31, 2018 Statement of Revenues, Expenditures and Changes in Working Capital Enterprise ‐ Utility Fund Water Operation 7 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Operating revenue User charges for services 6,046,862$       1,573,484$       (4,473,378)$   26.0%1,416,592$  156,892$     111.1% Operating expenses Personnel services 782,828             158,529             624,299         20.3% 177,535        19,006          89.3% Commodities 86,715               12,817               73,898            14.8% 19,312          6,495            66.4% Other charges and services 349,770             47,863               301,907         13.7% 91,583          43,720          52.3% Disposal charges 4,018,012          1,004,503          3,013,509      25.0% 877,395        (127,108)      114.5% Major maintenance projects 670,000             ‐                          670,000         0.0%‐                    ‐                    0.0% Total operating expenses 5,907,325          1,223,713          4,683,612      20.7%1,165,825    (57,888)        105.0% Operating income (loss)139,537             349,771             210,234         250,767        99,004          139.5% Non‐operating revenue (expense) Intergovernmental State aid 1,632                  ‐                          (1,632)             0.0%‐                     ‐                    0.0% Grants 25,000                ‐                          (25,000)          0.0%‐                     ‐                    0.0% Investment income 15,015               6,250                 (8,765)             41.6% 6,000            250               104.2% Disposal of assets 5,250                  ‐                          (5,250)             0.0%‐                     ‐                    0.0% Capital outlay (52,072)              (3,956)                48,116            7.6% (2,472)           (1,484)           160.0% Bond proceeds ‐                           ‐                           ‐                      0.0%‐                     ‐                    0.0% Debt service (74,325)              (65,350)              8,975              87.9% (1,821)           (63,529)        3588.7% Transfers in 23,822               23,822                ‐                      100.0% 23,873          (51)                99.8% Transfers (out)(200,012)            (57,614)              142,398         28.8%(35,907)        (21,707)        160.5% Total non‐operating (net)(255,690)            (96,848)              158,842         37.9%(10,327)        (86,521)        937.8% Change in working capital (116,153)            252,923             369,076         240,440        12,483          105.2% Beginning working capital 1,853,064          2,677,180          824,116         2,351,239    325,941        113.9% Ending working capital 1,736,911$       2,930,103$       1,193,192$    2,591,679$  338,424$     113.1% CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Working Capital For the Three Month Period Ended March 31, 2018 Enterprise ‐ Utility Fund Sanitary Sewer Operation Variance from 2017 Actual Positive (Negative) Comparative 8 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Operating revenue User charges for services 850,000$     219,196$     (630,804)$    25.8%207,299$  11,897$       105.7% Operating expenses Personnel services 19,038         2,282            16,756         12.0% 2,801         519              81.5% Commodities 33                 171               (138)              518.2% 12              (159)             1425.1% Other charges and services 740,903       184,120       556,783       24.9%178,759    (5,361)          103.0% Total operating expenses 759,974       186,572       573,402       24.5%181,572    (5,000)          102.8% Operating income (loss)90,026         32,624         (57,402)        25,727      6,897           126.8% Non‐operating revenue (expense) Investment income 2,576            844               (1,732)          32.8% 750            94                112.5% Debt service (15,075)        (3,230)          11,845         21.4%‐                 (3,230)          0.0% Transfers in (out) ‐ General Fund (4,407)          (1,102)          3,305            25.0%(1,096)       (6)                 100.5% Total non‐operating (net)(16,906)        (3,488)          13,418         20.6%(346)          (3,142)          1008.2% Change in working capital 73,120         29,135         (43,985)        25,381      3,754           114.8% Beginning working capital 415,244       426,676       11,432         318,786    107,890       133.8% Ending working capital 488,364$     455,811$     (32,553)$      344,167$  111,644$    132.4% CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Working Capital For the Three Month Period Ended March 31, 2018 Enterprise ‐ Utility Fund Street Light Operation Variance from 2017 Actual Positive (Negative) Comparative 9 Unaudited 2018 Percent Adopted 3/31/18 of 3/31/17 Budget Actual Variance Budget Actual Revenues User charges for services 1,137,435$      286,076$         (851,359)$    25.2% 247,587$     38,489$          115.5% Charges for services ‐ Recycling 4,592                ‐                        (4,592)           0.0%‐                    ‐                  0.0% Total revenues 1,142,027        286,076           (855,951)       25.0%247,587        38,489            ‐345.7% Expenditures ‐ Public works Personnel services 425,286           99,246              326,040        23.3% 75,860          (23,386)           130.8% Commodities 33,367              16,075              17,292          48.2% 16,381          306                 98.1% Other charges and services 894,578           24,860              869,718        2.8%29,219          4,359              85.1% Total expenditures 1,353,231        140,181           1,213,050     10.4%121,460        (18,721)           115.4% Operating income (loss)(211,204)          145,895           357,099        126,127        19,768            115.7% Non‐operating revenue (expense) Intergovernmental 208,000            ‐                        (208,000)       0.0%‐                     ‐                  0.0% Investment income 7,151                2,500                (4,651)           35.0% 2,500             ‐                  100.0% Capital outlay (58,117)             ‐                        58,117          0.0%‐                     ‐                  0.0% Transfers in (out)‐                   General Fund (153,255)          (36,056)            117,199        23.5% (42,024)        5,968              85.8% Equipment Fund (31,000)            (31,000)             ‐                     100.0% (31,000)         ‐                  100.0% Storm Sewer Trunk Fund 47,000              10,000              (37,000)         21.3% (110,000)      120,000           ‐9.1% Liquor Fund 3,050                 ‐                        (3,050)           0.0%‐                     ‐                  0.0% Sanitary sewer operations (23,822)            23,822              47,644          ‐100.0%(23,873)        47,695            ‐99.8% Total other financing (uses)(993)                  (30,734)            (29,741)         3095.1%(204,397)      173,663          15.0% Change in working capital (212,197)          115,161           327,358        (78,270)        193,431           ‐147.1% Beginning working capital 839,883           949,516           109,633        1,075,032    (125,516)        88.3% Ending working capital 627,686$         1,064,677$      436,991$      996,762$     67,915$          106.8% CITY OF LAKEVILLE, MINNESOTA Statement of Revenues, Expenditures and Changes in Working Capital For the Three Month Period Ended March 31, 2018 Enterprise ‐ Utility Fund Environmental Resources Operation Variance from 2017 Actual Positive (Negative) Comparative 10