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Memo_General FundCITY 0F 0 ot e MINNESOTA DATE: 5 February 2014 To: Lori Johnson, City Administrator MEMORANDUM FROM: Dan Jordet, Administrative Services Director RE: General Fund 2013 Preliminary Income Statement A preliminary compilation of revenues and expenditures for the 2013 General Fund shows a surplus of $ 97,926 of revenues over expenditures. This includes the following highlights: • Property Tax Collections of 98.50% of the 2013 Levy. • Total Revenue collection of 99.50% of the 2013 Budget. • General Government Expenditures at 93.34% of Budget. • Public Safety Expenditures at 97.18% of Budget. • Public Works Expenditures at 107.25% of Budget with the largest deviations being in engineering fees, locate charges and street light charges. • culture and Recreation Expenditures at 85.05% of Budget. Much of the savings in Culture and Recreation was lower costs for utilities and cleaning services at the Prairie center which was under construction for a significant period of time. • Economic Development spent 22.82% of its Budget. There were no marketing activities for economic development paid in 2013. The addition of the preliminary surplus to the unrestricted fund balance for the General Fund results in an unrestricted General Fund fund balance of 1,783,292. This represents 43.59% to 43.97% of the General Fund Budget for 2014 depending on the budget that is adopted. City of Otsego General Fund Preliminary for the year ending 31 December 2013 Over/ Actual Actual Budget Preliminary (Under) % Over/ 2011 2012 2013 2013 Bud g t (Under) Revenues: 51,273 62,950 44,007 (18,943) (30.09%) Ad Valorem Property Tax 3,343,665 3,139,131 3,213,145 3,164,946 (48,199) Licenses and Permits 23,450 33,915 28,000 36,455 8,455 Intergovernmental Revenue 199,053 208,822 202,875 206,675 3,800 Charges for Service 96,204 60,253 57,000 37,519 (19,481) Interest Revenue 118,186 92,134 1001000 134,604 341604 Cable Franchise Fees 100,176 106,547 100,000 86,680 (13,320) Other Revenues 232)613 35,164 500 16,149 15,649 TOTAL Revenues: 4,113,347 3,675,966 31701)520 31683)028 (18,492) Expenditures: General Government: City Council Administration Elections Assessor Finance Information Technology Legal City Hall Old Town Site Planning Planning Commission Subtotal: General Government. - Public Safety., Police Police Commission Fire Emergency Management Animal Control Subtotal. Public Safety., Public Works: Streets Engineering Street Lights Fleet Maintenance Subtotal. Public Works Culture & Recreation Park Maintenance Recreation Prairie Center Heritage Preservation Comm. Subtotal: Culture & Recreation: Economic Development Transfers Out/(In) TOTAL Expenditures: Sales Tax Exemption Savings NET GENERAL FUND: (1.50%) 30.20% 1.87% (34.18%) 34.60%© (13.32%) 0.50% 49,950 51,273 62,950 44,007 (18,943) (30.09%) 2951869 367,582 355,290 339,553 (15,737) (4.43%) 390 24,334 585 1,485 900 153.85% 67,935 67,904 68,250 67,462 (788) (1.15%) 176,950 239,680 243,945 235,289 (8,656) (3.55%) - 35,108 46,850 29,349 (17,501) (37.36%) 95,239 711305 70, 000791967 538,300 91967 14.24% - - 78,685 71,535 (7,150) (9.09%) 721 716 - 1,414 1,414 100.00% 911213 85,126 801000 70,076 (91924) (12.41%) 540 1,230 1,680 1,020 (660) (39.29%) 778,807 944,258 1,008,235 941,157 (67,078) (6.65%) 861,410 875,045 883,300 886;713 1 3,413 0.39% 1,191 1$372 1,370 11398 28 2.04% - 347,922 355,000 326,738 (28,262) (7.96%) - 728 6,500 2,950 (3,550) (54.62%) 15,274 10,915 17,500 10,193 (7,307) (41.750/oj_ 877,875 1,235,982 1,263,670 1,2271992 (35,678) (2.82%) 1,285,891 760,656 510,240 538,300 28,060 5.50% 147,421 128,713 1171000 1651043 481043 41.06% 97,046 108,775 105,000 109,567 4,667 4.44% - - 209,460 1961920 (12,540) (5.99%1 11530)358 998,144 941,700 1,009,930 68,230 7.25% 346,410 195,455 291,655 270,245 (21,410) (7.34%) 371325 831016 137,110 111)136 (25,974) (18.94%) 58,888 39,134 43,500 20,220 (23,280) (53.52%) 2,400 1,134 1,250 1J136 (114) (9.12%) 445,023 318,740 473,515 402,737 (70,778) (14.95%) 121353 2,649 14,400 31286 (11,114) (77.18%) 556,941 115,000 - - 100.00% 4,201,357 31614,773 3,701,520 315851 102 (116,418) (3.15%) (88,010) 61,193 971926 C:\Users\Dan\Documents\2014 Budget\2013 Preliminary Result GF 2/4/2014