HomeMy WebLinkAbout2010/07/26 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA
JULY 26, 2010
6:30 p.m. CITY COUNCIL STUDY SESSION – Council Chambers
Discussion Items
1. 6:30 p.m. Closed Executive Session ---Threatened Litigation by Ames Construction
Relating to Hwy. 7 & Wooddale Project
2. 7:30 p.m. Southwest Transit and Freight Rail Update
3. 8:00 p.m. City Council Norms
4. 8:30 p.m. Future Study Session Agenda Planning – August 9
5. 8:35 pm. Communications (Verbal)
8:40 p.m. Adjourn
Written Reports
6. June 2010 Monthly Financial Report
7. Second Quarter Investment Report (April - June, 2010)
Auxiliary aids for individuals with disabilities are available upon request.
To make arrangements, please call the Administration Department at
952/924-2525 (TDD 952/924-2518) at least 96 hours in advance of
Meeting Date: July 26, 2010
Agenda Item #: 1
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other: CLOSED EXECUTIVE SESSION
TITLE:
Closed Executive Session –Threatened Litigation by Ames Construction Relating to Hwy. 7 and
Wooddale project.
RECOMMENDED ACTION:
No formal action is requested.
POLICY CONSIDERATION:
Not applicable.
BACKGROUND:
City Attorney Tom Scott and Public Works Director Mike Rardin will discuss with the City
Council litigation strategy and potential settlement of threatened litigation by Ames Construction in
a Closed Executive Session.
FINANCIAL OR BUDGET CONSIDERATION:
Not applicable.
VISION CONSIDERATION:
Not applicable.
Attachments: Study Session Report from July 12, 2010 Meeting re: Change Order to
Contract 119-08 --- Hwy 7/Wooddale Avenue
Prepared by: Michael P. Rardin
Reviewed by: City Attorney
Approved by: Tom Harmening, City Manager
Study Session Meeting of July 26, 2010 (Item No. 1) Page 2
Subject: Closed Executive Session –Threatened Litigation by Ames Construction Relating to Hwy. 7 & Wooddale proj.
Meeting Date: July 12, 2010
Agenda Item #: 8
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Change Order to Contract 119-09 – Street Project – Highway 7 - Wooddale Avenue Intersection
Improvement Project – Project No. 2004-1700.
RECOMMENDED ACTION:
The purpose of this report is to update the Council on the status of resolving a contract matter with
the contractor, Ames Construction Company.
POLICY CONSIDERATION:
Does the Council have questions or concerns relating to the proposed Change Order? If, so please
inform City staff. Absent unresolved concerns or questions from Council, staff is planning to bring
this matter to an upcoming Council meeting for formal action.
BACKGROUND:
Project Information
On August 13, 2009, bids were opened for the Highway 7/Wooddale Intersection Project. After
review and tabulation of the bids, and authorization by the State of Minnesota, the City Council
awarded a contract in the amount of $11,568,953.11 to Ames Construction Company. After
contracts, bonds, and other documents were received and approved, a notice to proceed dated
September 25, 2009 was issued to the contractor. Mn/DOT has been providing the inspection and
construction administration on behalf of the City for this project.
The project intent has always been to complete the project in a manner that would minimize both
overall costs and inconveniences to the general public as much as reasonably possible. With that in
mind, the original contract schedule provided for completing a significant amount of construction
prior to December of 2009 in order to reach a substantial completion (opening of the intersection to
traffic) by September 1, 2010. The work anticipated for completion last fall included the majority
of the underground utility work (including the MCES force main), and completion of the south
frontage road. That work is just now nearing completion.
Construction of the project last fall did not get underway as rapidly as originally intended and
anticipated. Generally, the relatively late start combined with the complexity of issues encountered
with several private utilities (gas, electric, communications, etc.) did not allow the project to proceed
as quickly as everyone would have liked. The possibility of even delaying the construction start until
2010 was even considered. However, efforts were made by the Contractor, Mn/DOT, the City, and
the various private utilities to complete as much work as reasonably possible last fall. The City also
requested the Contractor to submit a revised schedule and staging plan that would still allow the
Study Session Meeting of July 26, 2010 (Item No. 1) Page 3
Subject: Closed Executive Session –Threatened Litigation by Ames Construction Relating to Hwy. 7 & Wooddale proj.
project to be substantially completed (open to full access) by December 15, 2010. This request was
made formally to the contractor in a letter dated January 22, 2010.
In a letter to Mn/DOT dated March 25, 2010 and copied to the City, Ames Construction presented
a revised schedule and re-staging plan that provided for substantially completing the project by
December 15, 2010 as requested by the City. Ames also requested that additional compensation in
the form of a Change Order in the amount of $1,615,860 be issued. Ames based this request on an
argument that utility delays beyond their control or responsibility necessitated a significant re-staging
effort and modification of the plans in order to meet the December completion date. To generalize
further, the contractor argued that completing the work in the newly condensed time frame required
changes to the sequencing and intensity of the work, including additional overtime hours, materials
and equipment, and significant modifications to the progression of work activities. Mn/DOT also
reviewed and concurred with the proposed revised schedule and work plan. However, the issue of
additional compensation has been contested.
ANALYSIS
While acknowledging the Contractor’s need to re-stage and re-sequence much of the contract work,
the City has differed with the contractor with regards to who should bear the responsibility of any
increased costs. The City’s position throughout this process is that the contract documents clearly
support no obligation on the part of the City to provide compensation as argued by the Contractor.
Through several meetings that have occurred amongst staff and legal representatives of both Ames
and the City, both parties have strongly argued their respective cases, while trying to reach an
understanding and possible agreement at the same time. Both parties have expressed a willingness
and interest in reaching a mutual agreement relatively quickly at a staff level in order to avoid further
delays to the project and incurring possible additional future costs.
As with all projects of this nature, the contract includes provisions for liquidated damages in the
event completion dates are not attained. With the condensed time-frame proposed for the project
and the possibility of completing the bridge decking late into the fall season (when pouring concrete
becomes much more restrictive and expensive), there are still some relative unknowns with regards to
risk and costs that cannot be predicted or quantified reliably at this time. As a result, an agreement
has been reached with the contractor where unknown risks may be offset by incentives if the project
is completed before the winter season. As a result, the following tentative agreement for Change
Order compensation has been mutually agreed upon by both parties: Base compensation in the
amount of $200,000 and incentive pay in the amount of $200,000 if the intersection is substantially
complete (open to traffic) by November 19, 2010. It should be noted that incentive compensation
is very common for highway projects of this nature, and Mn/DOT is very agreeable to administering
a Change Order in this manner.
FINANCIAL OR BUDGET CONSIDERATION:
The total Change Order (with incentives) would amount to less than 3.5% of the total contract and
would be covered primarily by STP (federal) funds. Based on the bid received last year and
remaining STP funds, $658,750 (80% of this is federal dollars and 20% City) are available to fund
eligible project contingencies should the need arise. Any STP funds not used for this project will be
redistributed by the Met Council through their regional solicitation process at some future date.
Study Session Meeting of July 26, 2010 (Item No. 1) Page 4
Subject: Closed Executive Session –Threatened Litigation by Ames Construction Relating to Hwy. 7 & Wooddale proj.
Previous Change Orders and Work Orders approved administratively by the City Manager to date
have totaled just over $100,000.
Should the Council be acceptable to the settlement that has been negotiated, it will be presented to
Council as an item for consideration at the next regular meeting, along with a more detailed
tabulation of the project costs.
VISION CONSIDERATION:
The following Strategic Direction and focus area was identified by Council in 2007:
St. Louis Park is committed to being a connected and engaged community.
Focus will be on:
• Promoting regional transportation issues and related dedicated funding sources
affecting St. Louis Park including but not limited to Hwy. 100 and SWLRT.
Attachments: None
Prepared by: Scott Brink, City Engineer
Reviewed by: Michael P. Rardin, Director of Public Works
Tom Scott, City Attorney
Approved by: Tom Harmening, City Manager
Meeting Date: July 26, 2010
Agenda Item #: 2
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Southwest Transit and Freight Rail Update.
RECOMMENDED ACTION:
No action required at this time. The purpose of this report is to assist in the study session discussion
regarding Southwest Transit and Freight Rail.
POLICY CONSIDERATION:
Does the City Council have questions or concerns that it desires staff to follow-up on at this time?
Who would the Council wish to appoint to the SWLRT Community Works Steering Committee?
BACKGROUND:
Work continues to progress on Southwest LRT and the studies related to freight rail. What follows
is a summary of both.
SOUTHWEST LRT:
The SWLRT project has been turned over from Hennepin County Regional Rail Authority
(HCRRA) to the Metropolitan Council. The Met Council is working on a “new starts” application
to the Federal Transit Authority (FTA). Preliminary engineering for the project is expected to begin
in January, 2011.
Several other components to the transit line are in the works, noted as follows:
Community Works
On Thursday, July 22, 2010 the Hennepin County Board is expected to pass a resolution (attached)
to implement the Southwest LRT Community Works Program. The intent is to “guide and support
community and economic development in concert with light rail transit development.”
With the program, a Steering Committee is being established, in addition to several working
committees. The Steering Committee will oversee the program. It is to be comprised of two
Hennepin County Board members, a board member of the Hennepin County Regional Railroad
Authority, one elected official appointed from each of the cities of Eden Prairie, Edina, Hopkins,
Minneapolis, Minnetonka, and St. Louis Park, and a representative of the Metropolitan Council.
Study Session Meeting of July 26, 2010 (Item No. 2) Page 2
Subject: Southwest Transit and Freight Rail Update
Shortly it is expected the Mayor will receive a letter asking for an appointment to the Steering
Committee. This committee will provide the overall leadership of the Community Works Project,
with agency staffs providing the bulk of the day to day work. The focus is not on the LRT line
itself, rather on development potential in and around the station areas. The Community Works
Project will have a direct link to the Metropolitan Council organization for the SW LRT project,
with the intent that the two work hand-in-hand.
It is expected the first Steering Committee meeting will be held on September 8th; an appointment
to the Committee could be made at an August City Council meeting.
Other Studies/Grant Applications
As was noted at the City Council meeting of July 19th, the city has submitted an application to the
Minnesota Department of Economic and Employment Department (DEED) for our three station
areas to be designated as “Transit Improvement Areas.” While the program is not currently funded,
we were encouraged to apply for the designation to be eligible for funds (when they become
available) related to station area development.
The city staff has also applied for a Livable Communities Pre-development Grant from the
Metropolitan Council to obtain planning funds for the Beltline Station Area. Through the
conceptual planning previously completed with the County, staff has recognized the need for much
more detailed planning in this area. The grant request relates to planning for circulation, stormwater
and for a neighborhood planning process regarding the potential for development near the station
area. A resolution for this grant request will be placed on an upcoming City Council agenda for
approval.
In anticipation of additional congestion at the Beltline Boulevard Station Area, city staff has engaged
SRF Consulting Inc. to help with some background research and analysis of the anticipated
circulation and access issues at the station area. In light of the bike, bus, pedestrian and automobile
conflicts that exist today in that area, some attention and planning is necessary in order to consider
the options for creating an improved circulation and access pattern when the station opens.
FREIGHT RAIL:
The policy resolutions passed by the City Council on July 6th were forwarded to the Hennepin
County Board. Hennepin County has engaged consultants to address the issues St. Louis Park has
highlighted, including looking at the options of freight rail, light rail and the regional trail co-
existing in the Kenilworth corridor, and addressing the 2009 analysis further on the other potential
four options for freight route relocation.
On Thursday, July 22nd, the first meeting of the Project Management Team (PMT) for the Freight
Rail Relocation Study will be held. The agenda is attached. The PMT will consist of representatives
of up to 15 St. Louis Park neighborhoods, the railroad companies, the St. Louis Park School Board,
Safety in the Park group, and staff from MnDOT, Hennepin County and St. Louis Park. It is
expected this committee will meet for approximately six months.
Study Session Meeting of July 26, 2010 (Item No. 2) Page 3
Subject: Southwest Transit and Freight Rail Update
FINANCIAL OR BUDGET CONSIDERATION:
None at this time.
VISION CONSIDERATION:
SWLRT, Freight Rail planning and station area planning are consistent with the City’s strategic
vision to be a connected and engaged community; as well as leaders in environmental stewardship.
Attachments: Hennepin County Southwest LRT Community Works Program Resolution
Freight Rail Relocation Study PMT Kick off Meeting Agenda
Freight Rail Project Management Team Roster
Prepared by: Meg McMonigal, Planning & Zoning Supervisor
Kevin Locke, Community Development Director
Approved by: Tom Harmening, City Manager
Study Session Meeting of July 26, 2010 (Item No. 2)
Subject: Southwest Transit and Freight Rail Update Page 4
Study Session Meeting of July 26, 2010 (Item No. 2)
Subject: Southwest Transit and Freight Rail Update Page 5
Study Session Meeting of July 26, 2010 (Item No. 2)
Subject: Southwest Transit and Freight Rail Update Page 6
PROJECT MANAGEMENT TEAM (PMT) KICK OFF
MEETING
Thursday, July 22 at 6:00 PM
City of St. Louis Park Council Chambers
■ Introductions (10 minutes)
■ Roles/Responsibilities (20 minutes)
■ Purpose and General Scope of Study (20 minutes)
■ Project Schedule (10 minutes)
■ Next PMT Meeting (5 minutes)
■ Running List of Questions (5 minutes)
■ Open Forum (20 minutes)
Study Session Meeting of July 26, 2010 (Item No. 2)
Subject: Southwest Transit and Freight Rail Update Page 7
Freight Rail Relocation Study – Project Management Team List
Neighborhood Name
Birchwood Karen Hroma
Blackstone Chris Johnson
Bronx Park Robb Enslin
Catherine Kotki
Brooklawns
Brookside Tim Dunsworth
Warren Djerf (alt)
Eliot Marjorie Douville
Eliot View Margaret Heil
Elmwood Paula Evensen
Lake Forest Lynne Carper
Lenox Jeremy Anderson
Kandi Engels
Sorensen Lois Zander
South Oak Hill
Triangle Brian Driscoll
Wolfe Park Not currently organized
Cedarhurst Not currently organized
Safety in the Park Jami LaPray, Thom Miller
Agencies Name
Hennepin County Katie Walker
Minnesota DOT Timothy Spencer, Peter Dahlberg, Frank Pafko
City of St. Louis Park Kevin Locke, Meg McMonigal
St. Louis Park School Board Rolf Peterson
TCW Bob Suko, Mark Wegner
CP Amber Backhaus
BNSF David Wolter, Douglas Perry
Staff Name
Hennepin County Ia Xiong
Kimley-Horn Jeanne Witzig, Paul Danielson, Michael Couse
Study Session Meeting of July 26, 2010 (Item No. 2)
Subject: Southwest Transit and Freight Rail Update Page 8
Meeting Date: July 26, 2010
Agenda Item #: 3
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
City Council Norms
RECOMMENDED ACTION:
Finalize agreement on Norms as a means to help insure a high performing and effective City
Council.
POLICY CONSIDERATION:
• Is the City Council in agreement on the Norms?
• Should modifications be made to the draft of the Norms?
BACKGROUND:
On June 28 the City Council met to review and discuss Norms for a highly effective council. This
discussion was a follow-up to the work done by the Council at its February workshop.
Based on the feedback from the June 28 meeting, staff put together another draft of the Norms and
distributed it to the Council (see attached). Subsequently, the City Manager received comments
from council members on the draft which suggested that the proposed Norms needed to be
discussed again.
Bridget Gothberg will be in attendance at the study session to facilitate the discussion on the Norms.
FINANCIAL OR BUDGET CONSIDERATION:
Not applicable
VISION CONSIDERATION:
Not applicable
Attachments: Draft Norms
Prepared and Approved by: Tom Harmening, City Manager
Study Session Meeting of July 26, 2010 (Item No. 3) Page 2
Subject: City Council Norms
City Council Norms
Consensus reached June 28, 2010
Jeff Jacobs, Sue Sanger, Anne Mavity, Sue Santa, Julia Ross, Paul
Omodt, Phil Finkelstein
Norms: The rules of behavior that are part of the ideology of the group.
Standards of behavior and performance that develop from the interaction of the group, that are
agreed upon by the group, followed by the group, and monitored by the group.
• We let everyone speak
o Go around the table and ask for thoughts, feelings and opinions from all
members
o Stop and listen after speaking so that others may express their ideas
o Raise hands
o Help others’ voices be heard
• We are respectful
• We are open and honest
• We agree to disagree
o Remind ourselves that when we disagree, we still are all working hard for
what we think is best for the community
• We talk directly to the person when we have a problem
• We won’t personalize
• We stay on policy
• We won’t criticize staff in public
• We remember we represent the office, we are not the office
• We differentiate ward specific and city-wide discussions
Study Session Meeting of July 26, 2010 (Item No. 3) Page 3
Subject: City Council Norms
• We keep each other in the loop. Specifically, at-large members will get ward
members in the loop if they receive a question/call that is ward specific.
o They inform the ward council member and let them know what
happened (i.e. the question asked was simple and they answered it, or
they told the caller to contact the ward member, etc.)
• We help each other learn
• We all work to “make-it-work” once a vote is taken
• We expect that the Chief Governance Officer (CGO - Mayor) nudges us when
we need nudging and that we also nudge the CGO when needed.
Meeting Date: July 26, 2010
Agenda Item #: 4
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Future Study Session Agenda Planning – August 9, 2010
RECOMMENDED ACTION:
Council and the City Manager to set the agenda for the regularly scheduled Study Session on August
9, 2010
POLICY CONSIDERATION:
Does the Council agree with the agenda as proposed?
BACKGROUND:
At each study session, approximately five minutes are set aside to discuss the next study session
agenda. For this purpose, attached please find the tentative agenda and proposed discussion items
for the regularly scheduled study session on August 9, 2010.
FINANCIAL OR BUDGET CONSIDERATION:
None.
VISION CONSIDERATION:
None.
Attachment: Future Study Session Agenda Planning for August 9, 2010
City Council Items for Follow-up
Prepared by: Debbie Fischer, Office Assistant
Approved by: Tom Harmening, City Manager
Study Session Meeting of July 26, 2010 (Item No. 4) Page 2
Subject: Future Study Session
Study Session, Monday, August 9, 2010 – 6:30 p.m.
Tentative Discussion Items
1. Future Study Session Agenda Planning – Administrative Services (5 minutes)
2. 2011 Budget Discussion – Finance (60 minutes)
Staff will present information on the 2011 Budget for the General Fund, Park and
Recreation Fund, and other relevant funds.
3. Fire Stations – Community Development / Fire (60 minutes)
Staff will present updated information, clear alternatives and recommendations regarding the
fire station schematic design plans, including preliminary cost estimates.
4. Communications – Administrative Services (5 minutes)
Time for communications between staff and Council will be set aside on every study session
agenda for the purposes of information sharing.
End of Meeting: 8:40 p.m.
Reports:
5. Gambling Ordinance amendments
6. Affordable Housing
City Council Items for Follow-upCouncilmember Councilmember Councilmember CouncilmemberCouncilmember Councilmember Councilmember OneTwoThreeFourFiveSixSevenAffordable Housing Update (being discussed on 7/12/10)15105103HighTurf (being discussed on 7/12/10)wait for specific request22a412LowCharitable Gambling (in process)215645Low/MedCivic Facility Study 52314HighReplacement of BN Bridge over Virginia Ave6Need More Info4811Need More InfoHighHuman Rights Commission Annual Report (being discussed on 7/12/10)8Written Report7a107-MedParks and Recreation Commission Annual Report (being discussed on 7/12/10)9Written Report799-MedWomen, Minority Owned and Small Business Policy (Completed)7Written Report676--Council Workshop Recap (discussed on 6/28/10)43325-?Convention and Visitors Bureau (Direction given)341131-Environmental Inventory/Update 10922MedDiscussion on City Attorney Services1188?lowStudy Sessionl Meeting of July 26, 2010 (Item No. 4) Subject: Future Study SessionPage 3
Meeting Date: July 26, 2010
Agenda Item #: 5
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Communications (Verbal).
RECOMMENDED ACTION:
Not Applicable.
POLICY CONSIDERATION:
Not Applicable.
BACKGROUND:
At every Study Session, verbal communications will take place between staff and Council for the
purpose of information sharing.
FINANCIAL OR BUDGET CONSIDERATION:
Not Applicable.
VISION CONSIDERATION:
Not Applicable.
Attachments: None
Prepared and Approved by: Tom Harmening, City Manager
Meeting Date: July 26, 2010
Agenda Item #: 6
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
June 2010 Monthly Financial Report.
RECOMMENDED ACTION:
No action required at this time.
POLICY CONSIDERATION:
None at this time.
BACKGROUND:
This report is designed to provide summary information regarding the overall level of revenues and
expenditures in both the General Fund and the Park and Recreation Fund. These funds should be a
primary concern in analyzing the City’s financial health because they represent the discretionary use
of tax levy dollars.
For the month of June, actual expenditures should generally run about 50% of the annual budget.
Currently, the General Fund has expenditures totaling 48% of the adopted budget and the Park and
Recreation Fund expenditures are at 47%. Both are consistent when comparing the prior year
expenditures through June. Certain revenues tend to be slightly harder to gauge in this same way
due to the timing of when they are received.
Significant variances for both revenues and expenditures are highlighted below accompanied with a
general discussion of reasons for the variance.
General Fund
Revenues:
• License and permit revenues are at 67% of budget through the month of June. This is
primarily due to the full receipt of most 2010 liquor license and business license payments,
many of which were received late in 2009 and deferred to 2010. License revenues have
already exceeded the total annual budget by 7% or $44,000 as of June. When looking at
strictly permit revenue through June, it is at 51.8% of budget. This is slightly lower than the
52.6% of budget at this same point in time in 2009, and Staff will continue to monitor the
permit revenues closely throughout the year.
• The Human Resources budget shows that 100% of the training revenue has been received
for the year under Charges for Services. This reflects that the 2010 University of Park
program fees were billed out in January for all external participants.
• Other recoveries revenue under the Police Department will exceed budget in 2010 by as
much as $20,000. This is due to a process improvement that has been implemented in 2010
to better handle and account for Property Room cases.
Study Session Meeting of July 26, 2010 (Item No. 6) Page 2
Subject: June 2010 Monthly Financial Report
Expenditures:
• The Public Works Administration budget for Services and Other Charges is at 72% of
budget through June. This is due to a progress payment made in May in the amount of
$10,800 for a Pavement Distress Survey. An additional $3,000 remains to be paid on this
contract. Staff has discussed this expenditure and determined that it will remain in the
General Fund and will not be funded by the Pavement Management Fund.
• The Community Outreach – Police budget for Services and Other Charges is at 52.4% of
budget because the annual fee for mediation services was paid in May.
• Personal Services expenditures appear to slightly exceed budget in a few General Fund and
Park & Recreation Fund departments. These departments, such as Administration,
Community Development, Finance, and Environment have portions of staff time that will
be allocated to the EDA and the Utility Funds.
Parks and Recreation
Expenditures:
• The Organized Recreation budget for Services and Other Charges is at 67% of budget. This
is because the full 2010 Community Education contribution in the amount of $187,000 was
paid to the School District in January, which is consistent with prior years.
FINANCIAL OR BUDGET CONSIDERATION:
None at this time.
VISION CONSIDERATION:
Regular and timely reporting of financial information is part of the City’s mission of being stewards
of financial resources.
Attachments: Monthly Financial Reports
Prepared by: Darla Monson, Senior Accountant
Reviewed by: Brian A. Swanson, Controller
Approved by: Tom Harmening, City Manager
7/20/2010CITY OF ST LOUIS PARK 14:57:12R5509FIN1 LOGIS001
1Monthly Financial Report Page -By Co (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
01000 GENERAL FUND
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 14,889,605.00-14,889,605.00-|14,653,275.00-
4100 LICENSES & PERMITS 2,294,768.00- 176,374.71- 1,544,903.92- 749,864.08- 67.32 |2,515,000.00-1,554,768.51- 61.82
4270 FINES & FORFEITS 311,750.00- 48,311.96- 152,642.12- 159,107.88- 48.96 |312,000.00-162,380.83- 52.05
4300 INTERGOVERNMENTAL 1,598,787.00- 108,068.52- 540,244.31- 1,058,542.69- 33.79 |1,647,214.00-462,482.32- 28.08
4600 CHARGES FOR SERVICES 1,138,018.00- 31,011.48- 335,537.84- 802,480.16- 29.48 |1,201,900.00-337,418.61- 28.07
5200 MISCELLANEOUS 100,000.00-8,504.33- 61,126.45- 38,873.55- 61.13 |100,000.00-82,682.57- 82.68
4001 REVENUES 20,332,928.00-372,271.00-2,634,454.64-17,698,473.36-12.96 |20,429,389.00-2,599,732.84-12.73
6001 EXPENDITURES
6002 PERSONAL SERVICES 18,132,004.00 1,553,094.68 9,123,880.47 9,008,123.53 50.32 |18,496,154.00 9,698,427.99 52.43
6210 SUPPLIES 846,535.00 85,367.80 355,453.48 491,081.52 41.99 |766,135.00 250,314.13 32.67
6300 NON-CAPITAL EQUIPMENT 67,775.00 6,712.31 47,419.34 20,355.66 69.97 |70,775.00 23,447.45 33.13
6350 SERVICES & OTHER CHARGES 3,922,858.00 227,468.78 1,532,114.06 2,390,743.94 39.06 |4,160,215.00 1,613,608.28 38.79
6001 EXPENDITURES 22,969,172.00 1,872,643.57 11,058,867.35 11,910,304.65 48.15 |23,493,279.00 11,585,797.85 49.32
8001 OTHER INCOME
8010 TRANSFERS IN 2,583,825.00- 215,318.74- 1,291,912.44- 1,291,912.56- 50.00 |2,678,910.00-1,314,454.92- 49.07
8070 OTHER RECOVERIES 1,500.00-150.00- 16,778.42- 15,278.42 1,118.56 |2,000.00-2,955.19- 147.76
8100 INTEREST 200,000.00-61,747.43 261,747.43- 30.87- |350,000.00-90,335.10- 25.81
8170 ADMINISTRATION FEES 3,078.00-3,078.00 |425.00-
8200 MISC REVENUE 100.00-35.54-64.46- 35.54 |167.50-
8001 OTHER INCOME 2,785,425.00-215,468.74-1,250,056.97-1,535,368.03-44.88 |3,030,910.00-1,408,337.71-46.47
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES |.71
8580 MISC EXPENSE 181,181.00 181,181.00 |181,000.00 58.86 .03
8590 BANK CHARGES/CREDIT CD FEES 19,000.00 2,138.51 9,827.43 9,172.57 51.72 |19,000.00 11,529.52 60.68
8501 OTHER EXPENSE 200,181.00 2,138.51 9,827.43 190,353.57 4.91 |200,000.00 11,589.09 5.79
4000 REVENUES & EXPENSES 51,000.00 1,287,042.34 7,184,183.17 7,133,183.17-*********|232,980.00 7,589,316.39 3,257.50
01000 GENERAL FUND 51,000.00 1,287,042.34 7,184,183.17 7,133,183.17-*********|232,980.00 7,589,316.39 3,257.50
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 3
7/20/2010CITY OF ST LOUIS PARK 14:57:12R5509FIN1 LOGIS001
2Monthly Financial Report Page -By Co (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
02000 PARK AND RECREATION
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 4,014,872.00-4,014,872.00-|4,073,118.00-
4100 LICENSES & PERMITS 6,275.00-512.00-5,763.00-8.16 |5,460.00-
4300 INTERGOVERNMENTAL 71,219.00-543.90- 40,481.91- 30,737.09- 56.84 |55,702.00-27,637.75- 49.62
4600 CHARGES FOR SERVICES 1,073,900.00- 136,034.53- 502,599.17- 571,300.83- 46.80 |1,141,598.00-572,791.13- 50.17
5200 MISCELLANEOUS 906,900.00- 63,618.14- 350,678.64- 556,221.36- 38.67 |883,000.00-365,780.04- 41.42
4001 REVENUES 6,073,166.00-200,196.57-894,271.72-5,178,894.28-14.72 |6,153,418.00-971,668.92-15.79
6001 EXPENDITURES
6002 PERSONAL SERVICES 3,440,416.00 359,007.06 1,664,113.29 1,776,302.71 48.37 |3,503,813.00 1,836,292.09 52.41
6210 SUPPLIES 906,881.00 85,181.09 341,021.29 565,859.71 37.60 |872,131.00 297,841.51 34.15
6300 NON-CAPITAL EQUIPMENT 4,120.00 4,681.57 561.57- 113.63 |4,120.00 3,909.36 94.89
6350 SERVICES & OTHER CHARGES 1,712,749.00 115,757.04 841,513.35 871,235.65 49.13 |1,703,002.00 791,550.26 46.48
7800 CAPITAL OUTLAY 7,000.00 7,000.00 |15,352.00
6001 EXPENDITURES 6,071,166.00 559,945.19 2,851,329.50 3,219,836.50 46.97 |6,098,418.00 2,929,593.22 48.04
8001 OTHER INCOME
8100 INTEREST |760.08-
8130 CONTRIBUTIONS/DONATIONS 13,000.00-5,556.56-7,443.44- 42.74 |12,000.00-5,765.00- 48.04
8200 MISC REVENUE 5,440.00-5,440.00 |
8001 OTHER INCOME 13,000.00-10,996.56-2,003.44-84.59 |12,000.00-6,525.08-54.38
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 39.00 39.00-|6.98
8590 BANK CHARGES/CREDIT CD FEES 15,000.00 2,380.58 9,280.04 5,719.96 61.87 |9,317.07
8501 OTHER EXPENSE 15,000.00 2,380.58 9,319.04 5,680.96 62.13 |9,324.05
4000 REVENUES & EXPENSES 362,129.20 1,955,380.26 1,955,380.26-|67,000.00-1,960,723.27 2,926.45-
02000 PARK AND RECREATION 362,129.20 1,955,380.26 1,955,380.26-|67,000.00-1,960,723.27 2,926.45-
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 4
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
1Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
01000 GENERAL FUND
100 GENERAL
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 14,889,605.00-14,889,605.00-|14,653,275.00-
4300 INTERGOVERNMENTAL 45,205.00-45,205.00-|45,205.00-
4600 CHARGES FOR SERVICES 29.57-147.49-147.49 |258.59-
5200 MISCELLANEOUS 85,000.00-7,186.70- 42,757.02- 42,242.98- 50.30 |85,000.00-42,731.77- 50.27
4001 REVENUES 15,019,810.00-7,216.27-42,904.51-14,976,905.49-.29 |14,783,480.00-42,990.36-.29
6001 EXPENDITURES
6350 SERVICES & OTHER CHARGES 15,640.04 33,828.04 33,828.04-|
6001 EXPENDITURES 15,640.04 33,828.04 33,828.04-|
8001 OTHER INCOME
8010 TRANSFERS IN 2,583,825.00- 215,318.74- 1,291,912.44- 1,291,912.56- 50.00 |2,678,910.00-1,314,454.92- 49.07
8100 INTEREST 200,000.00-61,747.43 261,747.43- 30.87- |350,000.00-90,332.49- 25.81
8001 OTHER INCOME 2,783,825.00-215,318.74-1,230,165.01-1,553,659.99-44.19 |3,028,910.00-1,404,787.41-46.38
8501 OTHER EXPENSE
8580 MISC EXPENSE 180,681.00 180,681.00 |180,000.00
8590 BANK CHARGES/CREDIT CD FEES |1,277.54
8501 OTHER EXPENSE 180,681.00 180,681.00 |180,000.00 1,277.54 .71
4000 REVENUES & EXPENSES 17,622,954.00-206,894.97-1,239,241.48-16,383,712.52-7.03 |17,632,390.00-1,446,500.23-8.20
100 GENERAL 17,622,954.00-206,894.97-1,239,241.48-16,383,712.52-7.03 |17,632,390.00-1,446,500.23-8.20
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 5
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
2Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
110 ADMINISTRATION
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 183,360.00-2,062.50- 191,294.17-7,934.17 104.33 |215,500.00-157,093.33- 72.90
4270 FINES & FORFEITS 8,000.00-8,000.00-|8,000.00-
4300 INTERGOVERNMENTAL |947.30-
4600 CHARGES FOR SERVICES 154.26-467.37-467.37 |97.00-
4001 REVENUES 191,360.00-2,216.76-191,761.54-401.54 100.21 |223,500.00-158,137.63-70.76
6001 EXPENDITURES
6002 PERSONAL SERVICES 444,400.00 38,994.83 244,734.07 199,665.93 55.07 |531,500.00 279,274.47 52.54
6210 SUPPLIES 3,100.00 983.43 1,437.27 1,662.73 46.36 |3,700.00 686.58 18.56
6350 SERVICES & OTHER CHARGES 476,972.00 30,427.14 176,459.43 300,512.57 37.00 |455,635.00 196,323.59 43.09
6001 EXPENDITURES 924,472.00 70,405.40 422,630.77 501,841.23 45.72 |990,835.00 476,284.64 48.07
8001 OTHER INCOME
8200 MISC REVENUE |167.50-
8001 OTHER INCOME |167.50-
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES |.71
8590 BANK CHARGES/CREDIT CD FEES |4.86
8501 OTHER EXPENSE |5.57
4000 REVENUES & EXPENSES 733,112.00 68,188.64 230,869.23 502,242.77 31.49 |767,335.00 317,985.08 41.44
110 ADMINISTRATION 733,112.00 68,188.64 230,869.23 502,242.77 31.49 |767,335.00 317,985.08 41.44
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 6
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
3Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
120 FINANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 48,318.00-4,026.50- 20,523.38- 27,794.62- 42.48 |50,000.00-19,780.75- 39.56
4001 REVENUES 48,318.00-4,026.50-20,523.38-27,794.62-42.48 |50,000.00-19,780.75-39.56
6001 EXPENDITURES
6002 PERSONAL SERVICES 920,800.00 95,268.81 522,566.84 398,233.16 56.75 |937,200.00 526,032.62 56.13
6210 SUPPLIES 4,225.00 234.67 1,393.25 2,831.75 32.98 |4,225.00 1,433.49 33.93
6350 SERVICES & OTHER CHARGES 152,905.00 9,778.25 64,615.69 88,289.31 42.26 |162,555.00 67,251.53 41.37
6001 EXPENDITURES 1,077,930.00 105,281.73 588,575.78 489,354.22 54.60 |1,103,980.00 594,717.64 53.87
8001 OTHER INCOME
8170 ADMINISTRATION FEES 2,900.00-2,900.00 |425.00-
8001 OTHER INCOME 2,900.00-2,900.00 |425.00-
8501 OTHER EXPENSE
8580 MISC EXPENSE 500.00 500.00 |500.00 21.84 4.37
8590 BANK CHARGES/CREDIT CD FEES 500.00 .01-500.01 |500.00 9.17 1.83
8501 OTHER EXPENSE 1,000.00 .01-1,000.01 |1,000.00 31.01 3.10
4000 REVENUES & EXPENSES 1,030,612.00 101,255.23 565,152.39 465,459.61 54.84 |1,054,980.00 574,542.90 54.46
120 FINANCE 1,030,612.00 101,255.23 565,152.39 465,459.61 54.84 |1,054,980.00 574,542.90 54.46
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 7
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
4Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
130 HUMAN RESOURCES
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 9,000.00-9,026.00-26.00 100.29 |9,000.00-5,461.00- 60.68
5200 MISCELLANEOUS 264.00-264.00 |
4001 REVENUES 9,000.00-9,290.00-290.00 103.22 |9,000.00-5,461.00-60.68
6001 EXPENDITURES
6002 PERSONAL SERVICES 482,400.00 41,034.88 241,102.81 241,297.19 49.98 |481,000.00 255,751.92 53.17
6210 SUPPLIES 2,000.00 36.96 664.13 1,335.87 33.21 |2,000.00 1,024.60 51.23
6350 SERVICES & OTHER CHARGES 160,550.00 2,456.34 63,198.48 97,351.52 39.36 |160,550.00 65,631.87 40.88
6001 EXPENDITURES 644,950.00 43,528.18 304,965.42 339,984.58 47.29 |643,550.00 322,408.39 50.10
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 635,950.00 43,528.18 295,675.42 340,274.58 46.49 |634,550.00 316,947.39 49.95
130 HUMAN RESOURCES 635,950.00 43,528.18 295,675.42 340,274.58 46.49 |634,550.00 316,947.39 49.95
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 8
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
5Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
135 COMMUNITY DEVELOPMENT
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 9,000.00-1,825.00- 6,775.00-2,225.00- 75.28 |12,000.00-6,165.00- 51.38
4600 CHARGES FOR SERVICES 594,000.00- 17,584.15- 240,773.50- 353,226.50- 40.53 |585,000.00-247,657.97- 42.33
4001 REVENUES 603,000.00-19,409.15-247,548.50-355,451.50-41.05 |597,000.00-253,822.97-42.52
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,001,700.00 118,918.53 698,699.91 303,000.09 69.75 |1,023,000.00 545,405.53 53.31
6210 SUPPLIES 1,700.00 8.13 221.16 1,478.84 13.01 |3,000.00 396.47 13.22
6300 NON-CAPITAL EQUIPMENT |1,000.00
6350 SERVICES & OTHER CHARGES 47,750.00 859.69 1,884.71 45,865.29 3.95 |56,750.00 8,567.08 15.10
6001 EXPENDITURES 1,051,150.00 119,786.35 700,805.78 350,344.22 66.67 |1,083,750.00 554,369.08 51.15
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 448,150.00 100,377.20 453,257.28 5,107.28-101.14 |486,750.00 300,546.11 61.75
135 COMMUNITY DEVELOPMENT 448,150.00 100,377.20 453,257.28 5,107.28-101.14 |486,750.00 300,546.11 61.75
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 9
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
6Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
140 FACILITIES MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 43,000.00-17,250.00- 25,750.00- 40.12 |8,200.00-
5200 MISCELLANEOUS 15,000.00-1,250.00- 8,750.00-6,250.00- 58.33 |15,000.00-8,750.00- 58.33
4001 REVENUES 58,000.00-1,250.00-26,000.00-32,000.00-44.83 |23,200.00-8,750.00-37.72
6001 EXPENDITURES
6002 PERSONAL SERVICES 546,200.00 42,510.80 255,607.38 290,592.62 46.80 |534,000.00 277,360.19 51.94
6210 SUPPLIES 86,150.00 4,333.53 25,570.02 60,579.98 29.68 |90,500.00 12,778.81 14.12
6300 NON-CAPITAL EQUIPMENT 26,000.00 5,369.23 9,206.96 16,793.04 35.41 |26,000.00 4,917.61 18.91
6350 SERVICES & OTHER CHARGES 423,392.00 27,480.97 164,884.97 258,507.03 38.94 |502,942.00 210,412.90 41.84
6001 EXPENDITURES 1,081,742.00 79,694.53 455,269.33 626,472.67 42.09 |1,153,442.00 505,469.51 43.82
8001 OTHER INCOME
8501 OTHER EXPENSE
8580 MISC EXPENSE |37.02
8590 BANK CHARGES/CREDIT CD FEES 34.00 34.00-|165.41
8501 OTHER EXPENSE 34.00 34.00-|202.43
4000 REVENUES & EXPENSES 1,023,742.00 78,444.53 429,303.33 594,438.67 41.93 |1,130,242.00 496,921.94 43.97
140 FACILITIES MAINTENANCE 1,023,742.00 78,444.53 429,303.33 594,438.67 41.93 |1,130,242.00 496,921.94 43.97
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 10
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
7Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
145 INFORMATION RESOURCES
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES |1,277.42-
4001 REVENUES |1,277.42-
6001 EXPENDITURES
6002 PERSONAL SERVICES 516,850.00 45,272.54 286,538.63 230,311.37 55.44 |562,500.00 311,446.34 55.37
6210 SUPPLIES 23,500.00 2,792.10 13,925.98 9,574.02 59.26 |30,800.00 6,934.86 22.52
6300 NON-CAPITAL EQUIPMENT 23,556.10 23,556.10-|2,931.46
6350 SERVICES & OTHER CHARGES 860,316.00 63,687.79 407,081.28 453,234.72 47.32 |877,970.00 366,339.55 41.73
6001 EXPENDITURES 1,400,666.00 111,752.43 731,101.99 669,564.01 52.20 |1,471,270.00 687,652.21 46.74
8001 OTHER INCOME
8200 MISC REVENUE 35.54-35.54 |
8001 OTHER INCOME 35.54-35.54 |
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 24.96-17.35 17.35-|25.85
8501 OTHER EXPENSE 24.96-17.35 17.35-|25.85
4000 REVENUES & EXPENSES 1,400,666.00 111,727.47 731,083.80 669,582.20 52.20 |1,471,270.00 686,400.64 46.65
145 INFORMATION RESOURCES 1,400,666.00 111,727.47 731,083.80 669,582.20 52.20 |1,471,270.00 686,400.64 46.65
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 11
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
8Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
150 COMMUNICATIONS & MARKETING
4000 REVENUES & EXPENSES
4001 REVENUES
4300 INTERGOVERNMENTAL 3,000.00-3,000.00-|3,000.00-
4001 REVENUES 3,000.00-3,000.00-|3,000.00-
6001 EXPENDITURES
6002 PERSONAL SERVICES 188,280.00 15,504.02 70,520.63 117,759.37 37.46 |184,980.00 87,944.83 47.54
6210 SUPPLIES 100.00 100.00 |
6350 SERVICES & OTHER CHARGES 93,525.00 7,113.26 31,490.98 62,034.02 33.67 |104,245.00 72,737.04 69.78
6001 EXPENDITURES 281,905.00 22,617.28 102,011.61 179,893.39 36.19 |289,225.00 160,681.87 55.56
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 278,905.00 22,617.28 102,011.61 176,893.39 36.58 |286,225.00 160,681.87 56.14
150 COMMUNICATIONS & MARKETING 278,905.00 22,617.28 102,011.61 176,893.39 36.58 |286,225.00 160,681.87 56.14
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 12
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
9Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
160 POLICE
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 300.00- 1,200.00-1,200.00 |
4270 FINES & FORFEITS 303,500.00- 48,311.96- 152,502.69- 150,997.31- 50.25 |303,500.00-162,380.83- 53.50
4300 INTERGOVERNMENTAL 800,582.00- 56,010.54- 239,033.51- 561,548.49- 29.86 |809,009.00-233,202.02- 28.83
4600 CHARGES FOR SERVICES 109,700.00-8,632.00- 36,090.75- 73,609.25- 32.90 |109,700.00-46,896.77- 42.75
5200 MISCELLANEOUS 21.19- 9,308.99-9,308.99 |31,200.80-
4001 REVENUES 1,213,782.00-113,275.69-438,135.94-775,646.06-36.10 |1,222,209.00-473,680.42-38.76
6001 EXPENDITURES
6002 PERSONAL SERVICES 6,609,294.00 546,522.81 3,219,087.27 3,390,206.73 48.71 |6,546,794.00 3,434,191.56 52.46
6210 SUPPLIES 141,050.00 18,585.14 43,971.06 97,078.94 31.17 |150,900.00 43,003.59 28.50
6300 NON-CAPITAL EQUIPMENT 33,775.00 1,343.08 12,056.28 21,718.72 35.70 |35,775.00 13,112.45 36.65
6350 SERVICES & OTHER CHARGES 521,783.00 35,428.58 197,495.45 324,287.55 37.85 |547,053.00 209,452.82 38.29
6001 EXPENDITURES 7,305,902.00 601,879.61 3,472,610.06 3,833,291.94 47.53 |7,280,522.00 3,699,760.42 50.82
8001 OTHER INCOME
8070 OTHER RECOVERIES 1,500.00-150.00- 16,778.42- 15,278.42 1,118.56 |2,000.00-2,955.19- 147.76
8100 INTEREST |2.61-
8001 OTHER INCOME 1,500.00-150.00-16,778.42-15,278.42 1,118.56 |2,000.00-2,957.80-147.89
8501 OTHER EXPENSE
8580 MISC EXPENSE |500.00
8590 BANK CHARGES/CREDIT CD FEES 500.00 21.09 122.76 377.24 24.55 |500.00 113.23 22.65
8501 OTHER EXPENSE 500.00 21.09 122.76 377.24 24.55 |1,000.00 113.23 11.32
4000 REVENUES & EXPENSES 6,091,120.00 488,475.01 3,017,818.46 3,073,301.54 49.54 |6,057,313.00 3,223,235.43 53.21
160 POLICE 6,091,120.00 488,475.01 3,017,818.46 3,073,301.54 49.54 |6,057,313.00 3,223,235.43 53.21
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 13
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
10Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
161 COMMUNITY OUTREACH - POLICE
4000 REVENUES & EXPENSES
4001 REVENUES
6001 EXPENDITURES
6002 PERSONAL SERVICES 76,700.00 6,545.54 38,380.42 38,319.58 50.04 |76,500.00 40,564.27 53.03
6210 SUPPLIES 850.00 850.00 |850.00
6350 SERVICES & OTHER CHARGES 8,705.00 4,564.98 4,140.02 52.44 |8,705.00 4,668.96 53.64
6001 EXPENDITURES 86,255.00 6,545.54 42,945.40 43,309.60 49.79 |86,055.00 45,233.23 52.56
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 86,255.00 6,545.54 42,945.40 43,309.60 49.79 |86,055.00 45,233.23 52.56
161 COMMUNITY OUTREACH - POLICE 86,255.00 6,545.54 42,945.40 43,309.60 49.79 |86,055.00 45,233.23 52.56
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 14
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
11Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
165 FIRE PROTECTION
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 40,000.00-2,768.89- 17,362.51- 22,637.49- 43.41 |50,000.00-19,919.90- 39.84
4300 INTERGOVERNMENTAL 300,000.00-6,391.38- 14,631.20- 285,368.80-4.88 |300,000.00-
4600 CHARGES FOR SERVICES 4,000.00-575.00- 9,507.35-5,507.35 237.68 |4,000.00-13,652.00- 341.30
4001 REVENUES 344,000.00-9,735.27-41,501.06-302,498.94-12.06 |354,000.00-33,571.90-9.48
6001 EXPENDITURES
6002 PERSONAL SERVICES 2,826,180.00 222,700.39 1,339,587.76 1,486,592.24 47.40 |2,815,680.00 1,441,746.95 51.20
6210 SUPPLIES 71,810.00 2,588.67 11,808.33 60,001.67 16.44 |71,810.00 19,683.02 27.41
6300 NON-CAPITAL EQUIPMENT 5,000.00 2,600.00 2,400.00 52.00 |5,000.00 1,790.93 35.82
6350 SERVICES & OTHER CHARGES 219,183.00 11,432.92 64,932.68 154,250.32 29.62 |224,183.00 75,076.13 33.49
6001 EXPENDITURES 3,122,173.00 236,721.98 1,418,928.77 1,703,244.23 45.45 |3,116,673.00 1,538,297.03 49.36
8001 OTHER INCOME
8170 ADMINISTRATION FEES 178.00-178.00 |
8001 OTHER INCOME 178.00-178.00 |
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 2,778,173.00 226,986.71 1,377,249.71 1,400,923.29 49.57 |2,762,673.00 1,504,725.13 54.47
165 FIRE PROTECTION 2,778,173.00 226,986.71 1,377,249.71 1,400,923.29 49.57 |2,762,673.00 1,504,725.13 54.47
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 15
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
12Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
170 INSPECTIONAL SERVICES
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 1,987,288.00- 164,723.32- 1,296,370.24- 690,917.76- 65.23 |2,162,500.00-1,325,970.28- 61.32
4600 CHARGES FOR SERVICES 10.00-252.00-252.00 |2,087.11-
5200 MISCELLANEOUS 46.44-46.44-46.44 |
4001 REVENUES 1,987,288.00-164,779.76-1,296,668.68-690,619.32-65.25 |2,162,500.00-1,328,057.39-61.41
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,713,100.00 143,461.62 819,482.75 893,617.25 47.84 |1,915,500.00 981,324.04 51.23
6210 SUPPLIES 21,500.00 279.42 2,824.56 18,675.44 13.14 |22,300.00 5,988.60 26.85
6350 SERVICES & OTHER CHARGES 63,627.00 3,435.74 31,681.73 31,945.27 49.79 |71,627.00 20,023.28 27.95
6001 EXPENDITURES 1,798,227.00 147,176.78 853,989.04 944,237.96 47.49 |2,009,427.00 1,007,335.92 50.13
8001 OTHER INCOME
8200 MISC RECEIPTS 100.00-100.00-|
8001 OTHER INCOME 100.00-100.00-|
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 18,000.00 2,142.38 9,653.33 8,346.67 53.63 |18,000.00 9,911.72 55.07
8501 OTHER EXPENSE 18,000.00 2,142.38 9,653.33 8,346.67 53.63 |18,000.00 9,911.72 55.07
4000 REVENUES & EXPENSES 171,161.00-15,460.60-433,026.31-261,865.31 252.99 |135,073.00-310,809.75-230.11
170 INSPECTIONAL SERVICES 171,161.00-15,460.60-433,026.31-261,865.31 252.99 |135,073.00-310,809.75-230.11
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 16
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
13Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
175 PUBLIC WORKS - ADMINISTRATION
4000 REVENUES & EXPENSES
4001 REVENUES
6001 EXPENDITURES
6002 PERSONAL SERVICES 825,800.00 71,981.57 429,032.48 396,767.52 51.95 |826,500.00 470,905.88 56.98
6210 SUPPLIES 4,000.00 258.34 1,105.12 2,894.88 27.63 |4,500.00 1,221.04 27.13
6300 NON-CAPITAL EQUIPMENT 1,000.00 1,000.00 |1,000.00
6350 SERVICES & OTHER CHARGES 24,100.00 165.92 17,340.37 6,759.63 71.95 |22,950.00 5,636.70 24.56
6001 EXPENDITURES 854,900.00 72,405.83 447,477.97 407,422.03 52.34 |854,950.00 477,763.62 55.88
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES |21.74
8501 OTHER EXPENSE |21.74
4000 REVENUES & EXPENSES 854,900.00 72,405.83 447,477.97 407,422.03 52.34 |854,950.00 477,785.36 55.88
175 PUBLIC WORKS - ADMINISTRATION 854,900.00 72,405.83 447,477.97 407,422.03 52.34 |854,950.00 477,785.36 55.88
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 17
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
14Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
176 PUBLIC WORKS - ENGINEERING
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 75,000.00-4,665.00- 31,722.00- 43,278.00- 42.30 |75,000.00-45,230.00- 60.31
4600 CHARGES FOR SERVICES 330,000.00-1,500.00- 328,500.00-.45 |436,000.00-250.00- .06
4001 REVENUES 405,000.00-4,665.00-33,222.00-371,778.00-8.20 |511,000.00-45,480.00-8.90
6001 EXPENDITURES
6002 PERSONAL SERVICES 750,000.00 63,934.93 351,682.80 398,317.20 46.89 |844,000.00 386,404.02 45.78
6210 SUPPLIES 7,050.00 246.86 3,776.12 3,273.88 53.56 |7,050.00 1,639.67 23.26
6300 NON-CAPITAL EQUIPMENT 2,000.00 2,000.00 |2,000.00 695.00 34.75
6350 SERVICES & OTHER CHARGES 70,750.00 2,948.43 14,097.33 56,652.67 19.93 |70,750.00 22,074.68 31.20
6001 EXPENDITURES 829,800.00 67,130.22 369,556.25 460,243.75 44.54 |923,800.00 410,813.37 44.47
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 424,800.00 62,465.22 336,334.25 88,465.75 79.17 |412,800.00 365,333.37 88.50
176 PUBLIC WORKS - ENGINEERING 424,800.00 62,465.22 336,334.25 88,465.75 79.17 |412,800.00 365,333.37 88.50
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 18
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
15Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
177 PUBLIC WORKS - OPERATIONS
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 120.00-30.00-180.00-60.00 150.00 |390.00-
4270 FINES & FORFEITS 250.00-139.43-110.57- 55.77 |500.00-
4300 INTERGOVERNMENTAL 450,000.00- 45,666.60- 286,579.60- 163,420.40- 63.68 |490,000.00-228,333.00- 46.60
4001 REVENUES 450,370.00-45,696.60-286,899.03-163,470.97-63.70 |490,500.00-228,723.00-46.63
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,230,300.00 100,443.41 606,856.72 623,443.28 49.33 |1,217,000.00 660,075.37 54.24
6210 SUPPLIES 479,500.00 55,020.55 248,756.48 230,743.52 51.88 |374,500.00 155,523.40 41.53
6350 SERVICES & OTHER CHARGES 799,300.00 16,613.71 258,557.94 540,742.06 32.35 |894,300.00 289,412.15 32.36
6001 EXPENDITURES 2,509,100.00 172,077.67 1,114,171.14 1,394,928.86 44.41 |2,485,800.00 1,105,010.92 44.45
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 2,058,730.00 126,381.07 827,272.11 1,231,457.89 40.18 |1,995,300.00 876,287.92 43.92
177 PUBLIC WORKS - OPERATIONS 2,058,730.00 126,381.07 827,272.11 1,231,457.89 40.18 |1,995,300.00 876,287.92 43.92
01000 GENERAL FUND 51,000.00 1,287,042.34 7,184,183.17 7,133,183.17-*********|232,980.00 7,589,316.39 3,257.50
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 19
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
16Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
02000 PARK AND RECREATION
200 ORGANIZED RECREATION
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 4,014,872.00-4,014,872.00-|4,073,118.00-
4300 INTERGOVERNMENTAL 44,702.00-22,351.00- 22,351.00- 50.00 |44,702.00-22,351.00- 50.00
4600 CHARGES FOR SERVICES 261,000.00- 10,487.30- 173,852.68- 87,147.32- 66.61 |259,298.00-179,401.17- 69.19
5200 MISCELLANEOUS 31,400.00-5,208.00- 10,899.00- 20,501.00- 34.71 |34,000.00-9,001.30- 26.47
4001 REVENUES 4,351,974.00-15,695.30-207,102.68-4,144,871.32-4.76 |4,411,118.00-210,753.47-4.78
6001 EXPENDITURES
6002 PERSONAL SERVICES 715,280.00 69,163.90 332,295.93 382,984.07 46.46 |729,162.00 387,720.98 53.17
6210 SUPPLIES 59,451.00 5,064.45 12,903.44 46,547.56 21.70 |59,451.00 17,718.85 29.80
6350 SERVICES & OTHER CHARGES 455,677.00 33,520.58 304,620.55 151,056.45 66.85 |502,597.00 299,362.53 59.56
6001 EXPENDITURES 1,230,408.00 107,748.93 649,819.92 580,588.08 52.81 |1,291,210.00 704,802.36 54.58
8001 OTHER INCOME
8100 INTEREST |760.08-
8130 CONTRIBUTIONS/DONATIONS 15,000.00-4,350.00- 10,650.00- 29.00 |14,000.00-3,250.00- 23.21
8200 MISC REVENUE 5,440.00-5,440.00 |
8001 OTHER INCOME 15,000.00-9,790.00-5,210.00-65.27 |14,000.00-4,010.08-28.64
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 39.00 39.00-|3.79
8590 BANK CHARGES/CREDIT CD FEES 15,000.00 2,356.77 8,939.53 6,060.47 59.60 |8,970.51
8501 OTHER EXPENSE 15,000.00 2,356.77 8,978.53 6,021.47 59.86 |8,974.30
4000 REVENUES & EXPENSES 3,121,566.00-94,410.40 441,905.77 3,563,471.77-14.16-|3,133,908.00-499,013.11 15.92-
200 ORGANIZED RECREATION 3,121,566.00-94,410.40 441,905.77 3,563,471.77-14.16-|3,133,908.00-499,013.11 15.92-
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 20
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
17Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
201 RECREATION CENTER
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 630,000.00- 108,352.61- 244,184.37- 385,815.63- 38.76 |679,000.00-308,591.45- 45.45
5200 MISCELLANEOUS 744,500.00- 46,957.70- 273,737.87- 470,762.13- 36.77 |722,000.00-278,879.67- 38.63
4001 REVENUES 1,374,500.00-155,310.31-517,922.24-856,577.76-37.68 |1,401,000.00-587,471.12-41.93
6001 EXPENDITURES
6002 PERSONAL SERVICES 785,638.00 91,881.11 324,450.82 461,187.18 41.30 |792,467.00 399,598.64 50.42
6210 SUPPLIES 170,350.00 31,429.48 75,816.66 94,533.34 44.51 |170,350.00 85,124.13 49.97
6350 SERVICES & OTHER CHARGES 480,870.00 37,505.20 213,919.60 266,950.40 44.49 |491,950.00 188,152.61 38.25
6001 EXPENDITURES 1,436,858.00 160,815.79 614,187.08 822,670.92 42.75 |1,454,767.00 672,875.38 46.25
8001 OTHER INCOME
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES |3.19
8501 OTHER EXPENSE |3.19
4000 REVENUES & EXPENSES 62,358.00 5,505.48 96,264.84 33,906.84-154.37 |53,767.00 85,407.45 158.85
201 RECREATION CENTER 62,358.00 5,505.48 96,264.84 33,906.84-154.37 |53,767.00 85,407.45 158.85
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 21
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
18Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
202 PARK MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 6,275.00-512.00-5,763.00-8.16 |5,460.00-
4600 CHARGES FOR SERVICES 10,500.00-10,500.00-|10,700.00-
5200 MISCELLANEOUS 30,000.00-3,044.02- 11,645.88- 18,354.12- 38.82 |26,000.00-22,001.05- 84.62
4001 REVENUES 46,775.00-3,044.02-12,157.88-34,617.12-25.99 |36,700.00-27,461.05-74.83
6001 EXPENDITURES
6002 PERSONAL SERVICES 926,500.00 103,542.91 489,376.63 437,123.37 52.82 |969,400.00 508,968.03 52.50
6210 SUPPLIES 97,755.00 9,636.12 50,951.94 46,803.06 52.12 |93,555.00 44,487.69 47.55
6300 NON-CAPITAL EQUIPMENT 4,120.00 4,353.75 233.75- 105.67 |4,120.00 3,888.39 94.38
6350 SERVICES & OTHER CHARGES 361,340.00 22,154.65 148,301.39 213,038.61 41.04 |369,510.00 143,253.35 38.77
7800 CAPITAL OUTLAY 7,000.00 7,000.00 |7,000.00
6001 EXPENDITURES 1,396,715.00 135,333.68 692,983.71 703,731.29 49.62 |1,443,585.00 700,597.46 48.53
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 1,349,940.00 132,289.66 680,825.83 669,114.17 50.43 |1,406,885.00 673,136.41 47.85
202 PARK MAINTENANCE 1,349,940.00 132,289.66 680,825.83 669,114.17 50.43 |1,406,885.00 673,136.41 47.85
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 22
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
19Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
203 WESTWOOD HILLS
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 86,400.00- 14,388.65- 67,402.14- 18,997.86- 78.01 |82,600.00-60,572.89- 73.33
5200 MISCELLANEOUS 20.00- 1,812.25-1,812.25 |477.00-
4001 REVENUES 86,400.00-14,408.65-69,214.39-17,185.61-80.11 |82,600.00-61,049.89-73.91
6001 EXPENDITURES
6002 PERSONAL SERVICES 421,200.00 38,579.56 206,503.63 214,696.37 49.03 |420,586.00 225,604.37 53.64
6210 SUPPLIES 27,000.00 2,501.02 6,729.05 20,270.95 24.92 |26,700.00 6,858.20 25.69
6300 NON-CAPITAL EQUIPMENT 327.82 327.82-|
6350 SERVICES & OTHER CHARGES 45,250.00 2,432.54 13,831.17 31,418.83 30.57 |44,500.00 14,083.29 31.65
6001 EXPENDITURES 493,450.00 43,513.12 227,391.67 266,058.33 46.08 |491,786.00 246,545.86 50.13
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 1,860.00-1,860.00 |715.00-
8001 OTHER INCOME 1,860.00-1,860.00 |715.00-
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 23.81 340.51 340.51-|346.56
8501 OTHER EXPENSE 23.81 340.51 340.51-|346.56
4000 REVENUES & EXPENSES 407,050.00 29,128.28 156,657.79 250,392.21 38.49 |409,186.00 185,127.53 45.24
203 WESTWOOD HILLS 407,050.00 29,128.28 156,657.79 250,392.21 38.49 |409,186.00 185,127.53 45.24
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 23
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
20Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
204 ENVIRONMENT
4000 REVENUES & EXPENSES
4001 REVENUES
4300 INTERGOVERNMENTAL 6,050.00-6,050.00 |
4600 CHARGES FOR SERVICES 86,000.00-2,805.97- 17,159.98- 68,840.02- 19.95 |110,000.00-15,104.85- 13.73
5200 MISCELLANEOUS |1,318.00-
4001 REVENUES 86,000.00-2,805.97-23,209.98-62,790.02-26.99 |110,000.00-16,422.85-14.93
6001 EXPENDITURES
6002 PERSONAL SERVICES 108,648.00 15,815.26 68,330.86 40,317.14 62.89 |108,898.00 54,770.93 50.30
6210 SUPPLIES 19,425.00 1,352.76 8,608.36 10,816.64 44.32 |19,425.00 12,078.15 62.18
6350 SERVICES & OTHER CHARGES 223,470.00 11,628.88 93,147.70 130,322.30 41.68 |158,470.00 79,808.04 50.36
6001 EXPENDITURES 351,543.00 28,796.90 170,086.92 181,456.08 48.38 |286,793.00 146,657.12 51.14
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 2,000.00 653.44 1,346.56 32.67 |2,000.00 1,800.00- 90.00-
8001 OTHER INCOME 2,000.00 653.44 1,346.56 32.67 |2,000.00 1,800.00-90.00-
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 267,543.00 25,990.93 147,530.38 120,012.62 55.14 |178,793.00 128,434.27 71.83
204 ENVIRONMENT 267,543.00 25,990.93 147,530.38 120,012.62 55.14 |178,793.00 128,434.27 71.83
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 24
7/20/2010CITY OF ST LOUIS PARK 15:00:04R5509FIN1 LOGIS005
21Monthly Financial Report Page -By Co, Dept (pb), Object
2010
20106/30/2010 <==========================================>20092010
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
205 VEHICLE MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4300 INTERGOVERNMENTAL 26,517.00-543.90- 12,080.91- 14,436.09- 45.56 |11,000.00-5,286.75- 48.06
4600 CHARGES FOR SERVICES |9,120.77-
5200 MISCELLANEOUS 101,000.00-8,388.42- 52,583.64- 48,416.36- 52.06 |101,000.00-54,103.02- 53.57
4001 REVENUES 127,517.00-8,932.32-64,664.55-62,852.45-50.71 |112,000.00-68,510.54-61.17
6001 EXPENDITURES
6002 PERSONAL SERVICES 483,150.00 40,024.32 243,155.42 239,994.58 50.33 |483,300.00 259,629.14 53.72
6210 SUPPLIES 532,900.00 35,197.26 186,011.84 346,888.16 34.91 |502,650.00 131,574.49 26.18
6300 NON-CAPITAL EQUIPMENT |20.97
6350 SERVICES & OTHER CHARGES 146,142.00 8,515.19 67,692.94 78,449.06 46.32 |135,975.00 66,890.44 49.19
7800 CAPITAL OUTLAY |8,352.00
6001 EXPENDITURES 1,162,192.00 83,736.77 496,860.20 665,331.80 42.75 |1,130,277.00 458,115.04 40.53
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 1,034,675.00 74,804.45 432,195.65 602,479.35 41.77 |1,018,277.00 389,604.50 38.26
205 VEHICLE MAINTENANCE 1,034,675.00 74,804.45 432,195.65 602,479.35 41.77 |1,018,277.00 389,604.50 38.26
02000 PARK AND RECREATION 362,129.20 1,955,380.26 1,955,380.26-|67,000.00-1,960,723.27 2,926.45-
Study Session Meeting of July 26, 2010 (Item No. 6)
Subject: June 2010 Monthly Financial Report Page 25
Meeting Date: July 26, 2010
Agenda Item #: 7
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Second Quarter Investment Report (April - June, 2010).
RECOMMENDED ACTION:
No action required at this time.
POLICY CONSIDERATION:
None at this time.
BACKGROUND:
The City’s investment portfolio is focused on shorter term cash flow needs and investment in other
longer term securities. This is done in accordance with Minnesota Statute 118A and the City’s
Investment Policy objectives of: 1) Preservation of capital; 2) Liquidity; and 3) Return on investment.
As in the past several quarters, we again saw some of our portfolio turn over as calls came in on our
higher rate securities. This trend is expected to continue for the remainder of the year as interest
rates are predicted to remain low or decline further. There were three investments called this quarter
with rates ranging from 3% to 4%. Since new securities that were purchased had rates ranging from
2% to 2.75%, the overall yield of our portfolio dropped slightly to 1.8% from 1.9% last quarter.
Cities generally use a short horizon benchmark such as the two year Treasury (.61% at 6/30) or
some similar measure for comparison. Looking to the third quarter, we are expecting a number of
our higher yielding investments to be called. Any securities that we are able to purchase will likely
have much lower rates, which may cause another small decline in our overall portfolio yield.
It is always necessary to have a reasonable amount of cash available to cover the normal cash flow
needs for payroll and general operating expenses, as well as the semi-annual obligations for debt
service payments and Pay-As-You-Go developer note payments. In the first two quarters of 2010, a
significant amount of cash has also been needed for construction payments on several projects in
progress including the MSC expansion, Wooddale and Hwy 7, and the Sunset Ridge Housing
Improvement Area. As construction activity continues on these projects and others this summer, it
will be necessary to keep a larger amount of cash available for payments.
Currently, our primary money market fund for investing available cash is the Minnesota Municipal
Money Market Fund, better known as the 4M Fund. This fund is governed and sponsored by the
League of Minnesota Cities and is customized specifically for public entities. While the 4M Fund
has dropped to an average yield of .05%, there are very few options other than money markets to
lock in safe, short-term investments for cash flow purposes. Finance plans to come back to Council
in 2010 to discuss opening a money market account with the City’s local bank for increased interest
earning potential that still adheres to the City’s Investment Policy.
Study Session Meeting of July 26, 2010 (Item No. 7) Page 2
Subject: Second Quarter Investment Report (April - June, 2010)
Longer term investments are purchased to raise the total portfolio yield. Many of our longer term
purchases are callable agency bonds. These bonds are issued by government agencies such as the
Federal Home Loan Bank or Fannie Mae, and are considered a very safe investment. They typically
have more reasonable interest rates for the final maturity date which is in three to five years, but the
issuer has the right to call the bond in three months to a year. This effectively reduces the average
life of our investments, since it is expected most of these securities will be called if interest rates
remain low. However, it is also imperative that sufficient liquidity is available to be able to lock in
higher rates once the economy begins to improve. This is another reason to keep a portion of our
portfolio in money market accounts.
Here is a summary of the City’s portfolio at June 30, 2010:
FINANCIAL OR BUDGET CONSIDERATION:
None at this time.
VISION CONSIDERATION:
The City has a sound investment policy that brokers are required to follow with the goals of
preservation of capital, liquidity and return on investment. The policy is strictly followed in making
investment decisions to protect the City’s resources.
Attachments: Quarterly Investment Report
Prepared by: Darla Monson, Senior Accountant
Reviewed by: Brian Swanson, Controller
Approved by: Tom Harmening, City Manager
3/31/10 6/30/10
<1 Year 35% 34%
1-2 Years 17% 16%
2-3 Years 18% 22%
>3 Years 31% 29%
3/31/10 6/30/10
Money Markets $17,374,921 $16,228,049
Certificates of Deposit $485,077 $480,852
Municipal Debt $12,582,558 $12,409,350
Agency Bonds $24,256,603 $29,261,102
City of St. Louis Park
Investments
June 30, 2010
Institution Type Maturity
Yield to
Maturity Basis
Market Value
12/31/09
Market Value at
6/30/2010
Estimated Avg
Annual Income
4M Fund Money Market 0.05%11,478,617 7,903,282 3,952
Citigroup/Smith Barney FNMA 7/6/2011 2.00% 2,000,000 2,032,500 2,031,880 40,000
Citigroup/Smith Barney FHLBC 2/19/2015 2.00% 1,500,000 1,504,215 30,000
Citigroup/Smith Barney GNMA 7.19%46,378 3,335
Citigroup/Smith Barney Govt MM Fund 0.10%9,551,558 5,148,990 5,149
8,731,463
Wachovia/Wells Fargo CD 7/16/2010 4.20% 96,000 97,719 96,158 4,032
Wachovia/Wells Fargo CD 7/16/2010 4.20% 96,000 97,719 96,158 4,032
Wachovia/Wells Fargo CD 7/16/2010 4.20% 96,000 97,719 96,158 4,032
Wachovia/Wells Fargo CD 7/19/2010 4.25% 96,000 97,720 96,188 4,080
Wachovia/Wells Fargo CD 7/19/2010 4.25% 96,000 97,720 96,188 4,080
Wachovia/Wells Fargo FNMA 1/15/2015 2.00% 1,000,000 1,001,875 20,000
Wachovia/Wells Fargo FHLMC 1/29/2015 1.75% 1,000,000 1,002,391 17,500
Wachovia/Wells Fargo FNMA 2/24/2015 2.25% 2,000,000 2,002,000 45,000
Wachovia/Wells Fargo FHLMC 4/15/2015 2.00% 2,000,000 2,011,416 40,000
Wachovia/Wells Fargo FNMA 5/27/2015 2.75% 1,000,000 1,001,840 27,500
Wachovia/Wells Fargo FNMA 12/23/2015 2.50% 2,000,000 2,000,000 50,000
Wachovia/Wells Fargo US Govt MM Fund 0.01%2,505,519 22 0
9,500,396
UBS UBS Cashfund 0.01%2,785,718 2,785,856 279
Sterne, Agee Farmer Mac 1/14/2011 1.62% 1,055,900 1,045,370 1,025,980 17,106
Sterne, Agee Gov't Debt 9/26/2011 1.55% 964,160 968,050 986,610 14,944
Sterne, Agee FAMC 10/3/2011 2.10% 1,069,426 1,065,260 1,053,350 22,458
Sterne, Agee FHLB 12/9/2011 2.63% 1,024,946 1,044,020 1,041,720 26,956
Sterne, Agee Muni Debt 5/1/2012 2.80% 101,504 102,349 102,851 2,842
Sterne, Agee FHLB 7/23/2012 4.15% 1,034,230 1,027,520 1,003,140 42,910
Sterne, Agee FHLB 8/27/2012 5.05% 1,000,000 1,028,790 1,007,520 50,500
Sterne, Agee FHLB 08/27/2012 2.81% 1,058,750 1,030,050 1,007,210 29,709
Sterne, Agee FHLB 10/29/2012 4.03% 1,024,995 1,034,850 1,014,700 41,256
Sterne, Agee Muni Debt 12/30/2012 2.45% 1,579,605 1,565,850 1,582,755 38,700
Sterne, Agee FNMA 1/18/2013 3.85% 1,004,210 1,028,640 1,016,730 38,662
Sterne, Agee FHLB 2/25/2013 3.65% 521,887 539,779 535,101 19,023
Sterne, Agee Muni Debt 3/1/2013 2.03% 752,580 747,230 759,980 15,277
Sterne, Agee FNMA 03/18/2013 3.96% 1,000,000 1,041,910 1,076,260 39,600
Sterne, Agee FNMA 4/29/2013 3.60% 802,894 825,115 816,870 28,880
Sterne, Agee Muni Debt 5/1/2013 3.12% 307,584 309,399 313,410 9,597
Sterne, Agee Muni Debt 5/1/2013 3.16% 599,360 603,705 599,175 18,940
Sterne, Agee FNMA 5/28/2013 4.05% 999,000 1,060,390 1,079,190 40,460
Sterne, Agee FFCB 12/27/2013 2.20% 971,162 962,433 959,706 21,327
Sterne, Agee FNMA 2/4/2011 0.65% 2,018,668 2,015,020 13,121
Sterne, Agee Muni Debt 12/30/2013 2.95% 1,574,415 1,550,835 1,590,945 46,445
Sterne, Agee Muni Debt 4/1/2014 2.53% 820,919 810,332 834,786 20,769
Sterne, Agee Muni Debt 5/1/2014 3.52% 720,475 724,521 739,171 25,361
Sterne, Agee Muni Debt 6/1/2014 4.04% 768,740 1,055,620 825,466 31,057
Sterne, Agee Muni Debt 1/1/2014 3.25% 1,258,660 1,214,355 40,906
Sterne, Agee Muni Debt 1/1/2013 2.63% 865,649 845,147 22,723
Sterne, Agee Muni Debt 1/1/2012 1.65% 2,040,400 2,014,700 33,667
Sterne, Agee Gov't Cash Trust 0.02%58,041 389,898 78
27,451,746
Wells Fargo FHLB 12/30/2011 1.05% 1,000,000 993,750 1,002,810 10,500
Wells Fargo Freddie Mac 1/26/2012 1.25% 1,000,000 1,003,800 12,500
2,006,610
GRAND TOTAL 58,379,353 1,079,244
Portfolio Yield 1.8%
Study Session Meeting of July 26, 2010 (Item No. 7)
Subject: Second Quarter Investment Report (April - June, 2010)Page 3