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HomeMy WebLinkAbout6B 2015 Preliminary Unaudited Financial Report PresentationApril 25, 2016 1 General Fund Revenues Expenditures Reserves Other Funds Enterprise Funds Economic Development Authority Agenda 2 Key Points Revenues exceeded expenditures by $348,104 Expenditures equaled 95.8% of budget 2015 General Fund 3 Budget to Actual $12,647,274 vs. $12,691,917 Total -$44,643 Misc. exceeded budget by $144k Bldg. Permit related revenue less than budget by $134k Revenues 4 Revenues 5 Revenue Category Revenues to Budget Property Taxes $ (20,000) Franchise Taxes 10,000 Intergovernmental 6,000 Charges for Services (1,000) Special Assessments (34,000) Interest (losses) on Investments (5,000) Miscellaneous Revenues 134,000 Contributions and Donations 1,000 Sale of Assets 7,000 Licenses and Permits (55,000) Fines and Forfeitures 1,000 Estimated Total Revenues Exceeding Budget $ 44,000 Budget to Actual $12,880,629 vs. $12,343,813 Total savings -$536,815 Open Positions -$160k Parks Infrastructure -$200k Expenditures 6 Expenditures 7 Expenditure Category Estimated Expenditures Compared to Budget Personnel $ 160,000 Current Expenditures 226,000 Capital Outlay Expenditures 148,000 Other 3,000 Total Expenditures $ 537,000 Beginning Balance -$5,775,937 Ending Balance -$6,041,408 Reserve Calculation -46.6% CFMP specifies a range between 40% and 50% *Not including 2016 proposed Budget Amendments ($233,000) General Fund Reserve* 8 Debt Service Issued 2015A and B bonds Capital Park Rice Lake Park Improvements Completed Pike Lake Master Plan –2016 Project Revolving Equipment Equipment purchases approved Feb. 9, 2015 Facilities Management GESP Improvements 90% Complete Other Funds 9 Water Sewer Water Quality Enterprise Funds 10 Total Revenues -$4.58M Water Charges -$3M Contributions -$1.1M Total Expenditures -$4.63M Operating -$2.27M Transfers -$2.3M Water 11 Water 12 Street Reconstruction Projects CIP Ref Budget Actual Comments 2015 Reconstruction Projects CIP#10 $0 $673,424 Improvement ordered Welcome Ave CIP#10 $0 $402,410 Final project funding Credit River Road Project CIP#10 $0 $ 398,719 Improvement ordered Total $0 $1,474,553 Total Revenues -$3.14M City Sewer Charges -$1.05M MCES Charges -$1.12M Total Expenditures -$3.8M Operating -$2.4M Transfers -$1.3M Sewer 13 Sewer 14 Street Reconstruction Projects CIP Ref Budget Actual Comments 2015 Reconstruction Projects CIP #10 $0 $837,460 Improvement ordered Credit River Road Project CIP #10 $0 $236,664 Improvement ordered Total $0 $1,074,124 Water Quality 15 Total Revenues -$1.2M Storm Water Charges -$862k Contributions -$266k Total Expenditures -$883M Operating -$561k Transfers -$322k Water Quality 16 Street Reconstruction Projects CIP Ref Bud get Actual Comments Welcome Ave CIP #10 $ 0 $40,000 Final project funding Mushtown/Maple/Pan ama CIP #10 $ 0 $61,817 Improvement ordered 2015 Reconstruction Projects CIP #10 $0 $180,884 Improvement ordered Credit River Road Project CIP #10 $0 $18,068 Improvement ordered Total $0 $300,769 2015 Budget -$188,595 Tax Levy -$159,000 Use of Fund Balance -$22,095 Revenues -$186,328 Expenditures -$$159,558 Tech Village -$16,278 Economic Development Authority 17 18