HomeMy WebLinkAbout2008/10/27 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA
CITY COUNCIL STUDY SESSION
OCTOBER 27, 2008
6:30 P.M.
CITY HALL COUNCIL CHAMBERS
Discussion Items
1. 6:30 p.m. Future Study Session Agenda Planning – November 3 and November 10, 2008
2. 6:35 p.m. City Manager Annual Performance Evaluation Process
3. 6:50 p.m. Residential Survey Update – Vision
4. 7:20 p.m. Excess Land Sale Proceeds
5. 7:40 p.m. Financial Policies
6. 8:25 p.m. Communications (Verbal)
Written Reports
7. September 2008 Monthly Financial Report
8. Quarterly Investment Report (3rd Quarter June-September 2008)
9. Foreclosed Properties Update
8:35 p.m. Adjourn
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.
Meeting Date: October 27, 2008
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:
TITLE:
Future Study Session Agenda Planning – November 3 and November 10, 2008.
RECOMMENDED ACTION:
Council and the City Manager to set the agenda for the special study session planned for Monday,
November 3, 2008 and the regularly scheduled study session on Monday, November 10, 2008.
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 special study session on November 3, 2008 and the regularly scheduled study session on
November 10, 2008.
FINANCIAL OR BUDGET CONSIDERATION:
None.
VISION CONSIDERATION:
None.
Attachment: Future Study Session Agenda Planning for November 3 & 10, 2008
Prepared by: Marcia Honold, Management Assistant
Approved by: Tom Harmening, City Manager
Meeting of October 27, 2008 (Item No. 1) Page 2
Subject: Future Study Session Agenda Planning
Future Study Session Agenda Planning
Tentative Discussion Items
Special Study Session, Monday, November 3, 2008 – 6:30 p.m.
1. Green Building Policy (with consultant) – Community Development (55 minutes)
Staff and consultant are returning to the Council to discuss options for encouraging
sustainable development in St. Louis Park. Does the Council wish staff to pursue developing
a green building policy for the city? Does the Council wish to link financial incentives to
development projects that encourage green building practices?
End of Meeting: 7:25 p.m.
Tentative Discussion Items
Study Session, Monday, November 10, 2008
1. Future Study Session Agenda Planning – Administrative Services (5 minutes)
2. Legislative Update – Administrative Services (45 minutes)
Council to have a conversation with staff and the city’s state and federal lobbyists to discuss
the 2009 Minnesota Legislative Session and federal transportation funding. Does the work
in this area meet Council’s expectations? Does the Council wish for staff to continue
working with our lobbyists on these initiatives?
3. Bader Development Company Redevelopment Contract – Community Development (30
minutes)
Staff wishes to discuss the terms and condition of the Bader Development Company’s
redevelopment contract. Does the Council agree to the terms and conditions of the
redevelopment contract as proposed?
4. Comprehensive Plan Update – Community Development (30 minutes)
Staff to discuss proposed updates to the city’s Comprehensive Plan, which is required to be
updated every 10 years.
5. Budget 2009 – Finance (60 minutes)
The Finance Director will continue discussions with the Council about the proposed 2009
budget.
6. Communications – Administrative Services (10 minutes)
Time for communications between staff and Council will be set aside on every study session
for the purposes of information sharing.
End of Meeting: 9:30 p.m.
Meeting Date: October 27, 2008
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:
City Manager Annual Performance Evaluation Process.
RECOMMENDED ACTION:
Consultant Roger Hokanson will provide Council with details about the process and instrument
used for the City Manager’s 360° evaluation.
POLICY CONSIDERATION:
None.
BACKGROUND:
At the Study Session on October 13, 2008, the Council agreed to move ahead with a 360°
evaluation process for the City Manager. The instrument used for the evaluation is called
“Checkpoint 360°”. It is a tool that is done online and facilitated by consultant Roger Hokanson.
Roger Hokanson will be in attendance at the Study Session to go into detail about the instrument
and the process that Council and Directors will follow in completion of the evaluation for the City
Manager.
FINANCIAL OR BUDGET CONSIDERATION:
Evaluation process expenses are included in the 2008 budget.
VISION CONSIDERATION:
None.
Attachments: None
Prepared by: Ali Fosse, HR Coordinator
Approved by: Tom Harmening, City Manager
Meeting Date: October 27, 2008
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:
Residential Survey Update – Vision.
RECOMMENDED ACTION:
Bill Morris and Peter Leatherman, consultants from Decision Resources will provide the Council
with an overview of the proposed residential survey and process. Staff and Decision Resources are
asking for Council’s feedback on the survey.
POLICY CONSIDERATION:
Does the Council have questions regarding the survey? Does the Council wish to make any changes
to the survey?
BACKGROUND:
Staff is working with Decision Resource, Inc. to conduct a city-wide residential survey this fall. The
purpose of the residential survey is to measure and gather information from the community, track
trends over time and find out how we are doing with Vision St. Louis Park. Department Heads,
various staff members who work closely with Vision, along with the consultant, have been involved
with developing the survey. Content areas include:
Baseline questions related to the first Vision in 1994 (Children First, public safety, and business),
Updated questions relating to our 2006 Vision, Council’s 18 Month Strategic Directions, and
Additional questions designed to get a better understanding of how people feel about the city.
Staff contacted the School District to see if they wanted the city to include school related questions.
The School District stated they do not need to be in this survey at this time because they completed
their own survey in April 2008.
Bill Morris and Peter Leatherman, consultants from Decision Resources will be at the October 27,
2008 study session to discuss the survey. We ask for Council direction on the following:
Does the Council have questions regarding the survey?
Does the Council wish to make any changes?
NEXT STEPS:
After meeting with the Council, staff and the consultant will finalize the survey questions.
November Park Perspective will publish information about the survey, letting residents know
that calls will start in November (after the election).
Data will be tabulated and compiled in December 2008.
Final report is expected to be presented to Council in January, 2009.
Meeting of October 27, 2008 (Item No. 3) Page 2
Subject: Residential Survey Update - Vision
FINANCIAL OR BUDGET CONSIDERATION:
The cost for a survey of 150 questions is $23,000. Funds are available for this project in the 2008
budget.
VISION CONSIDERATION:
The residential survey is aligned with the Council’s strategic direction, “St. Louis Park is committed
to being a connected and engaged community.”
Attachments: Draft Residential Survey Questions
Prepared by: Marcia Honold, Management Assistant
Bridget Gothberg, Organizational Development
Reviewed by: Nancy Gohman, Deputy City Manager/HR Director
Approved by: Tom Harmening, City Manager
Decision Resources, Ltd. CITY OF SAINT LOUIS PARK
3128 Dean Court Residential Study
Minneapolis, Minnesota 55416 REVISED 2.0 OCTOBER 2008
Hello, I'm __________ of Decision Resources, Ltd., a nationwide
polling firm located in the Twin Cities. We've been retained to
speak with a random sample of Saint Louis Park residents about
issues facing the community. This survey is being taken because
the City Council and City Staff are interested in your opinions
and suggestions about life in the community. All individual
responses will be held strictly confidential; only summaries of
the entire sample will be reported. (DO NOT PAUSE)
1. Approximately how many years have LESS THAN TWO YEARS.....1
you lived in Saint Louis Park? TWO TO FIVE YEARS.......2
SIX TO TEN YEARS........3
11 TO 20 YEARS..........4
OVER TWENTY YEARS.......5
DON'T KNOW/REFUSED......6
2. Thinking back to when you moved to Saint Louis Park, what
factors were most important to you in selecting the city?
____________________________________________________________
____________________________________________________________
3. As things now stand, how long LESS THAN ONE YEAR......1
in the future do you expect to ONE TO TWO YEARS........2
live in Saint Louis Park? TWO TO FIVE YEARS.......3
SIX TO TEN YEARS........4
OVER TEN YEARS..........5
DON'T KNOW/REFUSED......6
IF LESS THAN FIVE YEARS, ASK:
4. Why do you plan to move in the next ___ years?
_______________________________________________________
_______________________________________________________
5. How would you rate the quality of EXCELLENT...............1
life in this community -- excel- GOOD....................2
lent, good, only fair, or poor? ONLY FAIR...............3
POOR....................4
DON'T KNOW/REFUSED......5
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 3
IF "GOOD," "ONLY FAIR," OR "POOR," ASK:
6. If you could advise the City Council, what actions
would you recommend to significantly improve the quali-
ty of life in Saint Louis Park?
_______________________________________________________
_______________________________________________________
7. What do you like MOST about living in Saint Louis Park?
____________________________________________________________
____________________________________________________________
8. In general, what do you think is the most serious issue
facing the community today?
____________________________________________________________
____________________________________________________________
As I read the following statements about public safety in Saint
Louis Park, please answer "yes" or "no." (READ LIST)
YES NO DKR
9. I have an overall feeling of safety
in Saint Louis Park. 1 2 3
IF "NO," ASK:
10. Could you tell me one or two reasons why you feel that
way?
_______________________________________________________
_______________________________________________________
YES NO DKR
11. I feel safe walking in my neighborhood
alone at night. 1 2 3
12. My household is a part of our area's
Neighborhood Watch. 1 2 3
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 4
YES NO DKR
13. I have participated in National Night
Out activities in the community. 1 2 3
14. I can rely on my neighbors for help in a
safety-threatening situation. 1 2 3
15. I have participated in block parties in
my neighborhood. 1 2 3
16. Have you or anyone in your house- YES.....................1
hold had contact with the Fire De- NO......................2
partment during the past two DON'T KNOW/REFUSED......3
years?
IF "YES," ASK:
17. How would you rate the qual- EXCELLENT...............1
ity of service provided by GOOD....................2
the Fire Department -- excel- ONLY FAIR...............3
lent, good, only fair, or POOR....................4
poor? DON'T KNOW/REFUSED......5
IF "ONLY FAIR" OR "POOR," ASK:
18. Why did you rate the service as (only fair/poor)?
__________________________________________________
__________________________________________________
19. Have you or anyone in your house- YES.....................1
hold had contact with the Police NO......................2
Department during the past two DON'T KNOW/REFUSED......3
years?
IF "YES," ASK:
20. How would you rate the qual- EXCELLENT...............1
ity of service provided by GOOD....................2
the Fire Department -- excel- ONLY FAIR...............3
lent, good, only fair, or POOR....................4
poor? DON'T KNOW/REFUSED......5
IF "ONLY FAIR" OR "POOR," ASK:
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 5
21. Why did you rate the service as (only fair/poor)?
__________________________________________________
__________________________________________________
Moving on....
I would like to read you a list of a few city services. For
each one, please tell me whether you would rate the quality of
the service as excellent, good, only fair, or poor? (ROTATE)
EXCL GOOD FAIR POOR DK/R
22. Police protection? 1 2 3 4 5
23. Fire protection? 1 2 3 4 5
24. Recycling and brush pick-up? 1 2 3 4 5
25. Storm drainage and flood
control? 1 2 3 4 5
26. Park maintenance? 1 2 3 4 5
27. City-sponsored recreation
programs? 1 2 3 4 5
28. Animal control? 1 2 3 4 5
Now, for the next three city services, please consider only
their job on city-maintained street and roads. That means
excluding interstate highways, state and county roads that are
taken care of by other levels of government. Hence, Interstate
394, Highway 100, Highway 169, County Road 25 or Minnetonka
Boulevard, should not be considered. How would you rate ....
EXCL GOOD FAIR POOR DK/R
29. City street repair and
maintenance? 1 2 3 4 5
30. Snow plowing? 1 2 3 4 5
31. Street lighting? 1 2 3 4 5
32. How would you rate St. Louis Park EXCELLENT...............1
city services in comparison with GOOD....................2
neighboring communities -- excel- ONLY FAIR...............3
lent, good,--only fair, or poor? POOR....................4
DON'T KNOW/REFUSED......5
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 6
33. When you consider the property EXCELLENT...............1
taxes you pay and the quality of GOOD....................2
city services you receive, would ONLY FAIR...............3
you rate the general value of city POOR....................4
services as excellent, good, only DON'T KNOW/REFUSED......5
fair, or poor?
Changing topics....
34. In general, do you think the City TOO HIGH................1
of Saint Louis Park's emphasis on ABOUT RIGHT.............2
environmental concerns is too TOO LOW.................3
high, about right, or too low? DON'T KNOW/REFUSED......4
IF "TOO HIGH" OR "TOO LOW," ASK:
35. Why do you feel that way?
_______________________________________________________
_______________________________________________________
36. Do you think the City should pro- STRONGLY YES............1
mote the use of alternative energy YES.....................2
resources, such as wind power? NO......................3
(WAIT FOR RESPONSE) Do you feel STRONGLY NO.............4
strongly that way? DON'T KNOW/REFUSED......5
37. Do you think the City should pro- STRONGLY YES............1
mote the construction of energy- YES.....................2
efficient public buildings? (WAIT NO......................3
FOR RESPONSE) Do you feel strong- STRONGLY NO.............4
ly that way? DON'T KNOW/REFUSED......5
IF "STRONGLY YES" OR "YES" IN EITHER QUESTION 36 OR 37, ASK:
38. Would you still support the YES.....................1
City of Saint Louis Park un- NO......................2
dertaking these measures even DON'T KNOW/REFUSED......3
if they cost taxpayers more?
Moving on....
39. Other than voting, do you feel YES.....................1
that if you wanted to, you could NO......................2
have a say about the way things DON'T KNOW/REFUSED......3
are run in this community?
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 7
IF "NO," ASK:
40. Why do you feel you cannot have a say?
_______________________________________________________
_______________________________________________________
Changing topics....
41. How much do you feel you know GREAT DEAL..............1
about the work of the Mayor and FAIR AMOUNT.............2
City Council -- a great deal, a VERY LITTLE.............3
fair amount, or very little? DON'T KNOW/REFUSED......4
42. From what you know, do you approve APPROVE/STRONGLY........1
or disapprove of the job perform- APPROVE.................2
ance of the Mayor and City Coun- DISAPPROVE..............3
cil? (WAIT FOR RESPONSE) And do DISAPPROVE/STRONGLY.....4
you feel strongly that way? DON'T KNOW/REFUSED......5
IF OPINION STATED, ASK:
43. Why do you feel that way?
_______________________________________________________
_______________________________________________________
44. During the past year, have you YES.....................1
visited or contacted Saint Louis NO......................2
Park City Hall either in-person, DON'T KNOW/REFUSED......3
on the telephone, or by e-mail?
IF "YES," ASK:
45. Was your last contact with PERSONAL VISIT..........1
the City by a personal visit, TELEPHONE CALL..........2
a telephone call, or by e- E-MAIL..................3
mail? DON'T KNOW/REFUSED......4
46. On your last contact with the City, which Department
did you contact?
_______________________________________________________
_______________________________________________________
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 8
Thinking about your last contact with the City, for each of
the following characteristics, please rate the Saint Louis
Park City Hall facility or staff as excellent, good, only
fair, or poor....
EXC GOO FAI POO DKR
47. Courtesy of the staff? 1 2 3 4 5
48. Response time of the staff? 1 2 3 4 5
49. Respectfulness of the staff? 1 2 3 4 5
Moving on....
50. How would you rate general redev- EXCELLENT...............1
elopment in the City of Saint GOOD....................2
Louis Park -- excellent, good, ONLY FAIR...............3
only fair or poor? POOR....................4
DON'T KNOW/REFUSED......5
IF A RATING IS GIVEN, ASK:
51. Why do you feel that way?
_______________________________________________________
_______________________________________________________
52. Do you support or oppose the con- STRONGLY SUPPORT........1
tinued redevelopment in the City SUPPORT.................2
of Saint Louis Park? (WAIT FOR OPPOSE..................3
RESPONSE) Do you feel strongly STRONGLY OPPOSE.........4
way? DON'T KNOW/REFUSED......5
I would like to read you a list of some characteristics of a
community. For each one, please tell me if you think Saint Louis
Park currently has too many or too much, too few or too little, or
about the right amount. (ROTATE)
MANY FEW/ ABT DK/
/MCH LITT RGHT REFD
53. apartment units? 1 2 3 4
54. higher cost housing? 1 2 3 4
55. affordable housing? 1 2 3 4
56. starter homes for young families? 1 2 3 4
57. "move up" housing? 1 2 3 4
58. condominiums and townhouses? 1 2 3 4
59. senior housing? 1 2 3 4
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 9
As you may know, the populations of most inner ring suburban areas
are becoming more diverse in terms of age, household income, race,
and ethnicity.
60. In general, do you think that GOOD THING..............1
growing population diversity is a BAD THING...............2
good thing or a bad thing for the BOTH (VOL)..............3
community? DON'T KNOW/REFUSED......4
IF A RESPONSE IS GIVEN, ASK:
61. Could you tell me one or two reasons why you feel that
way?
_______________________________________________________
_______________________________________________________
62. Currently, how well prepared do VERY WELL...............1
you think the community is to meet SOMEWHAT WELL...........2
the growing diversity of residents NOT TOO WELL............3
-- very well, somewhat well, not NOT AT ALL WELL.........4
too well, or not at all well? DON'T KNOW/REFUSED......5
IF "NOT TOO WELL" OR "NOT AT ALL WELL," ASK:
63. Could you tell me one or two reasons why you feel that
way?
_______________________________________________________
_______________________________________________________
64. Do you, yourself, feel welcomed YES.....................1
in the community? NO......................2
DON'T KNOW/REFUSED......3
65. Do you feel accepted by the com- YES.....................1
munity? NO......................2
DON'T KNOW/REFUSED......3
Now, let's discuss your neighborhood in more detail....
66. First, do you know what neighbor- NEIGHBORHOOD NAMED......1
hood you live in? DON'T KNOW/REFUSED......2
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 10
As I read the following statements about your neighborhood, please
answer "yes" or "no." (READ LIST)
YES NO DKR
67. The appearance of housing in my neighbor-
hood has improved during the past few
years. 1 2 3
68. Homes in my neighborhood are well-
maintained. 1 2 3
69. People know and care about their neighbors
and participate in solving problems with
their business and residential neighbors. 1 2 3
70. Property values are increasing in this
neighborhood. 1 2 3
71. I would feel comfortable in discussing
neighborhood problems with my neighbors. 1 2 3
72. This neighborhood is a good place to raise
children. 1 2 3
73. People have pride and ownership in our
neighborhood. 1 2 3
74. I feel a part of my neighborhood. 1 2 3
75. How would you rate the overall EXCELLENT...............1
aesthetics, the pleasing appear- GOOD....................2
ance, of residential neighborhoods ONLY FAIR...............3
in Saint Louis Park -- excellent, POOR....................4
good, only fair, or poor? DON'T KNOW/REFUSED......5
76. How would you rate the overall EXCELLENT...............1
aesthetics, the pleasing appear- GOOD....................2
ance, of commercial and retail ONLY FAIR...............3
areas in Saint Louis Park -- ex- POOR....................4
cellent, good, only fair or poor? DON'T KNOW/REFUSED......5
77. Are there any specific areas in Saint Louis Park where
aesthetics should be improved? (PROBE FOR SPECIFICS)
____________________________________________________________
____________________________________________________________
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 11
78. Are there properties in your neighborhood you would consider
to be a problem? (IF "YES," ASK:) What makes the property
a problem?
____________________________________________________________
____________________________________________________________
I am going to read you a list of home improvement programs offered
by the City to residents. For each one, please tell me if you
were aware of it prior to this survey....
YES NO DKR
79. Technical advice and consulting? 1 2 3
80. Rebates? 1 2 3
81. Loans and financing? 1 2 3
Changing topics....
82. Do you leave the City of Saint YES.....................1
Louis Park on a regular or daily NO......................2
basis to go to work? NOT EMPLOYED/RETIRED....3
DON'T KNOW/REFUSED......4
IF "YES," ASK:
83. How would you rate the ease EXCELLENT...............1
of getting to and from work GOOD....................2
-- excellent, good, only fair ONLY FAIR...............3
or poor? POOR....................4
DON'T KNOW/REFUSED......5
84. How would you rate the ease of EXCELLENT...............1
getting from place to place within GOOD....................2
the City of Saint Louis Park -- ONLY FAIR...............3
excellent, good, only fair, or POOR....................4
poor? DON'T KNOW/REFUSED......5
85. Prior to this survey, were you YES.....................1
aware Hennepin County is proposing NO......................2
the construction of the Southwest DON'T KNOW/REFUSED......3
Light Rail line connecting Eden
Prairie and Saint Louis Park to
downtown Minneapolis?
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 12
86. How likely would you or members VERY LIKELY.............1
of your household be to regularly SOMEWHAT LIKELY.........2
use this service -- very likely, NOT TOO LIKELY..........3
somewhat likely, not too likely or NOT AT ALL LIKELY.......4
not at all likely? DON'T KNOW/REFUSED......5
Changing topics again....
87. Prior to this survey were you YES.....................1
aware of Saint Louis Park NO......................2
"Children First" Initiative? DON'T KNOW/REFUSED......3
IF "YES," ASK:
88. And, were you aware of the YES.....................1
set of forty developmental NO......................2
assets focused on by this DON'T KNOW/REFUSED......3
initiative for assuring the
success of city children?
IF "YES," ASK:
89. Have you, yourself, been YES.....................1
actively involved in any NO......................2
activities to help the DON'T KNOW/REFUSED......3
asset-building process?
90. Prior to this survey, were you YES.....................1
aware of STEP, Saint Louis Park NO......................2
Emergency Program? DON'T KNOW/REFUSED......3
Turning to parks and recreation....
91. In general, do you feel that YES.....................1
existing recreational facilities NO .....................2
offered by the City meet the DON'T KNOW/REFUSED......3
needs of you and members of
your household?
IF "NO," ASK:
92. What additional recreational facilities would you like
to see the City offer its residents?
_______________________________________________________
_______________________________________________________
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 13
93. Does the current mix of City park YES.....................1
and recreation programming meet NO......................2
the needs of your household? DON'T KNOW/REFUSED......3
IF "NO," ASK:
94. What program(s) do you feel are lacking?
_______________________________________________________
_______________________________________________________
95. Do you or members of your household currently leave the city
for park and recreation facilities or activities? (IF
"YES," ASK:) What would that be?
____________________________________________________________
____________________________________________________________
96. Do you think the City of Saint YES.....................1
Louis Park has enough places for NO......................2
residents to meet with family, DON'T KNOW/REFUSED......3
friends and business associates?
IF "NO," ASK:
97. What kind of places would you like to see available in
the City?
_______________________________________________________
_______________________________________________________
98. How important do you think it is VERY IMPORTANT..........1
to the quality of life in a com- SOMEWHAT IMPORTANT......2
munity to have a strong arts and NOT TOO IMPORTANT.......3
cultural presence -- very impor- NOT AT ALL IMPORTANT....4
tant, somewhat important, not too DON'T KNOW/REFUSED......5
important, or not at all impor-
tant?
Moving on....
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 14
99. What is your principal source of information about Saint
Louis Park City government and its activities?
____________________________________________________________
____________________________________________________________
100. How would you prefer to receive information about Saint
Louis Park City Government and its activities?
____________________________________________________________
____________________________________________________________
101. During the past year, did you YES.....................1
receive the "Park Perspective" the NO .....................2
City's monthly newsletter? DON'T KNOW/REFUSED......3
IF "YES," ASK:
102. Do you or any members of your YES.....................1
household regularly read it? NO .....................2
DON'T KNOW/REFUSED......3
As you may know, the City currently cablecasts and webcasts City
Council and Planning Commission meetings.
103. How often do you watch City Coun- FREQUENTLY..............1
cil or Planning Commission meet- OCCASIONALLY............2
ings -- frequently, occasionally, RARELY..................3
rarely, or never? NEVER...................4
DON'T KNOW/REFUSED......5
104. Have you accessed the City's YES.....................1
website? NO......................2
DON'T KNOW/REFUSED......3
IF "YES," ASK:
105. Were you able to find what YES.....................1
you were looking for? NO......................2
DON'T KNOW/REFUSED......3
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 15
106. What information would you like to see on the City's
website?
_______________________________________________________
_______________________________________________________
Now, just a few more questions for demographic purposes....
Could you please tell me how many people in each of the following
age groups live in your household. Let's start oldest to young-
est, and be sure to include yourself....
107. First, persons 65 or over? NONE....................0
ONE.....................1
TWO OR MORE.............2
108. Adults under 65? NONE....................0
ONE.....................1
TWO.....................2
THREE OR MORE...........3
109. School-aged children, 5 to 18 NONE....................0
years old? ONE.....................1
TWO.....................2
THREE OR MORE...........3
110. Pre-schoolers? NONE....................0
ONE.....................1
TWO OR MORE.............2
111. Do you reside in an apartment, APARTMENT...............1
townhouse or condominium, duplex, TOWNHOUSE/CONDO.........2
or a detached single family home? DUPLEX..................3
SINGLE-FAMILY HOME......4
SOMETHING ELSE..........5
DON'T KNOW/REFUSED......6
112. Do you own or rent your present OWN.....................1
residence? RENT....................2
REFUSED.................3
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 16
113. What is your age, please? 18-24...................1
25-34...................2
35-44...................3
45-54...................4
55-64...................5
65 AND OVER.............6
REFUSED.................7
114. Is a language other than English spoken in your home? ("IF
YES," ASK:) What is it?
____________________________________________________________
____________________________________________________________
115. Which of the following categories WHITE...................1
represents your ethnicity -- AFRICAN-AMERICAN........2
White, African-American, Hispanic- HISPANIC-LATINO.........3
Latino, Asian-Pacific Islander, ASIAN-PACIFIC ISLANDER..4
Native American, or something NATIVE AMERICAN.........5
else? (IF "SOMETHING ELSE," ASK:) SOMETHING ELSE..........6
What would that be? MIXED/BI-RACIAL.........7
DON'T KNOW..............8
REFUSED.................9
116. Is your pre-tax yearly household UNDER $25,000...........1
income over or under $50,000? $25,001-$50,000.........2
IF "OVER," ASK: $50,001-$75,000.........3
Is it over $75,000? (IF "YES," $75,001-$100,000........4
ASK:) Is it over $100,000? OVER $100,000...........5
IF "UNDER," ASK: DON'T KNOW..............6
Is it under $25,000? REFUSED.................7
Thank you for your time. Good-bye.
117. Gender. MALE....................1
FEMALE..................2
118. REGION OF CITY: WARD 1..................1
WARD 2..................2
WARD 3..................3
WARD 4..................4
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 17
LIST: ________________________________________
PHONER: ______________________________________
DATE: ________________________________________
PHONE NUMBER: ________________________________
Meeting of October 27, 2008 (Item No. 3)
Subject: Residential Survey Update - Vision Page 18
Meeting Date: October 27, 2008
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:
Excess Land Sale Proceeds.
RECOMMENDED ACTION:
Direct staff to prepare for City Council review alternative proposals for how to use the land sale
proceeds.
POLICY CONSIDERATION:
The policy question is how to utilize and/or what process to use to decide how to utilize the net
proceeds from the sale of city property for move-up homes.
BACKGROUND:
In December 2005 the City Council directed staff to proceed with the sale of several parcels of city
owned/tax forfeited property to accommodate Move-up Housing. Since that time four lots and a
partial lot (the Browndale parcel) have been sold and one parcel sale (Wood Lane) is pending. Bids
on two additional lots were withdrawn; and, attempts to sell those lots along with three larger parcels
intended to be sold to developer are on indefinite hold until market conditions are more favorable.
All together the city has received about $428,000 for the land sold to date. An additional $360,000
is anticipated to be received by the city once the pending Wood Lane lot sale is completed and the
city’s share of revenue from Hennepin County for the tax forfeited parcels is received. At some
point, additional revenue may come to the city from the sale of the remaining parcels. When that
will occur and how much will be generated is difficult to say at this time.
Previous discussions about how to decide what to do with the land sale proceeds included forming
some type of ad hoc committee or task force to make recommendations to the City Council.
Considering the relatively modest amount of funds available, and the significant community input
provided thru the Visioning process, staff is suggesting it might be more appropriate and efficient if
the City Council itself took on the task to decide how best to use the funds.
No matter what process is used, the intent has always been to use the funds for something other than
typical day to day operational purposes. Many ideas have surfaced in the past for how to use the
funds which also have a relationship to our recent Visioning process and the City Council adopted
Strategic Directions. These ideas include public art, housing, park or recreation facilities, the
environment and any number of specific project ideas. Staff could prepare a series of alternatives for
the City Council’s consideration.
Meeting of October 27, 2008 (Item No. 4) Page 2
Subject: Excess Land Sale Proceeds
It has been proposed in the past that the City may want to treat the net land sales proceeds as an
endowment to provide an on-going source of revenue for projects. The amount of funds generated
to date and anticipated in foreseeable future are probably not large enough to make this a viable
alternative. It maybe more effective to use the funds for one or a few specific projects rather than
attempt to create an endowment type fund.
NEXT STEPS:
If the City Council believes this approach has merit, staff can begin exploring alternative uses for the
excess land funds. Most likely alternative ideas would be ready for City Council consideration some
time in early 2009. As a part of looking at alternatives, staff would look closely at the priorities
established by the community thru the Visioning process and the Strategic Directions adopted by
the City Council.
FINANCIAL OR BUDGET CONSIDERATION:
Costs of preparing the draft policy would be mostly staff time and incidental expenses. The draft
policy would be a very useful tool to guide the use of excess land funds.
VISION CONSIDERATION:
The excess land funds could be used to advance any of the city’s strategic vision directions.
Attachments: Vacant Land Update Table
Prepared by: Kevin Locke, Community Development Director
Cindy Walsh, Parks and Recreation Director
Kathy Larsen, Housing Program Coordinator
Reviewed by:
Approved by: Tom Harmening, City Manager
Vacant City Land Update Street NbrStreet NameTo BidBid AwardDev AgreementEarnest Money PaidDesign Review CommitteeClosing - Sale to BuyerAppraised ValueActual Sale PriceCity Payment to County/StateProjected County ReimbursementRevenue to Date 2008Net City Revenue Estimate 2008Construction StatusBuyerCurrent Status Projects Underway2715Monterey Ave SFeb-07 Feb 07 June-07 $6,333Jun-07 Dec-07 $143,000 $211,000$143,000 $71,500 $68,000 $139,500 Begin fall 2008 StillmansConstruction to begin October 20082600Natchez Ave SJan 2008 3/7/08 April-08 $8,040Apr-08 Jun-08 $151,000 $268,000$151,000 $75,500 $117,000 $192,500 Began July 2008HarrisonsScheduled completion 200813th La WJuly 07 none$450,000 noneOn holdTexas & 394 Frontage RdJuly 07 none$366,000 noneOn hold9019Cedar Lake RdOct 07 none$400,000 noneOn hold2005Louisiana Ave SFeb 07 May-07Sep-07$61539332 39090 $20,000 $20,000 $10,000 $615 Withdrew Bid Bid withdrew On hold7701Edgebrook DrFeb 07 Feb-07 May-07 $2,268 May-07 Dec-07 $70,000 $70,000 $35,000 $2,268 Withdrew Bid Bid withdrew On hold5609Wood LaneJan 07 Feb-07 May-08 $6,666Sep-07 Jan-07 $215,000 $222,200 $0 $0$6,666 $222,200 On Hold Contracted completion 12/08StobbeCan not get financing without selling home - home hasn't sold4525Morningside Rd (4309 Browndale)na na nana Jul-06 $19,000 $19,000 $0 $0$19,000 $19,000 noneSchmidtSideyard sold to abutting owner4515West 42nd StreetMay 06 July-06 Nov-07 $0 Sep-06 Jun-07$96,000 $113,526 $0 $0 $113,526 $113,526Complete 2/2008Thomsons Occupied 4525West 42nd StreetMay 06 July-06 Nov-07 $0 Sep-06 Nov-07$96,000 $101,000 $0 $0 $101,000 $101,000Complete 6/2007McGurgans Occupied TOTAL$2,026,000 $934,726 $384,000 $192,000 $428,075 $787,726Projects CompletedSF Parcels - Not ClosedMultilot parcels - No RFP's received - on holdProjects Underway10/23/2008 11:50 AMMeeting of October 27, 2008 (Item No. 4) Subject: Excess Land Sale ProceedsPage 3
Meeting Date: October 27, 2008
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:
Financial Policies.
RECOMMENDED ACTION:
Staff would like to discuss several new or updated financial policies with the City Council in
preparation for our upcoming bond sale and bond rating review. If the City Council is comfortable
with the direction recommended, Staff is proposing that updated policies be formally adopted at the
November 3rd City Council meeting.
POLICY CONSIDERATION:
These policies should guide City Council decision-making as we proceed with the budget, capital
improvement plan (CIP), and financial management plan. Should these policies be adopted by City
Council resolution?
BACKGROUND:
The City has several existing policies regarding financial operations, but they either have not been
reviewed for some time, are unwritten, or simply not helpful in guiding the financial decisions that
need to be made. In conjunction with the bond issues that will be sold on November 17, staff is
exploring a bond rating from Standard & Poor’s (S&P) rather than Moody’s. Standard & Poor’s
has published a document that describes their rating methodology which we have attached to serve
as a guide to our discussion.
Staff is pursuing a rating with S&P based on several thoughts. The first is that there are different
rating priorities used by different rating agencies. We may be looked on more favorably by S&P
than by Moody’s based on their rating philosophy. As Finance Director at Chanhassen, I
experienced that first-hand when S&P rated the city significantly higher than Moody’s. A second
reason for looking now is that there is a movement to a “universal rating scale” that may help us.
Traditionally, the rating scale for corporate debt and government debt have used the same scale, but
the risk of default on government bonds is markedly lower than corporate bonds. This movement
has increased the rating of many cities throughout the nation and in the state. Finally, we adjoin
three AAA cities – Edina, Minnetonka, and Plymouth. We believe our practices and finances
compare favorably and welcome the opportunity to make that case.
Meeting of October 27, 2008 (Item No. 5) Page 2
Subject: Financial Policies
S&P rates governments based on the strength of their financial policies in seven specific areas. S&P
rates entities in each of these areas with either a “Strong”, “Standard” or “Vulnerable” rating. The
seven basic criteria that S&P reviews are:
• Revenue and Expenditure Assumptions
• Budget Amendments and Updates
• Long-Term Financial Planning
• Long-Term Capital Planning
• Investment Management Policies
• Debt Management Policies
• Reserve and Liquidity Policies
What follows is a description as to how we currently fare in each of these seven areas.
Revenue and Expenditure Assumptions
In regard to revenue and expenditure assumptions, we do not have a strong trend analysis in-house.
We do review trend information with our auditors along with the financial statements. We do
independently assess revenue projections on an annual basis for all of our operating funds. We have
been projecting both revenue and expenditures conservatively as witnessed by our budget variances
being positive on both for the past several years. Our practices, which cannot be changed much in
the short run, are probably in the standard range.
Budget Amendments and Updates
We practice monthly financial reviews with the City Council. These reports allow for a review of
budget to actual variance. We have made mid-year corrections with the City Council to modify
spending and revenue projections when warranted. We have not had a recent practice of annual
budget modifications due to the additional work that is required in that regard as we put together
GASB compliant annual financial reports. Here I believe we have strong practices.
Long-Term Financial Planning
We have spent a lot of time in the past two years creating a working model of our tax-supported
funds. This financial plan is guiding us toward a structurally balanced operation where current
revenues are available to cover current expenditures. Our policy of annual updates puts us in strong
position for this indicator.
Long-Term Capital Planning
We annually complete a five-year rolling CIP. Much thought is put into the items that are included
as well as funding sources. This document is used as the basis for the annual budget and the
financial management plan. This indicator should rank in the strong category for us.
Meeting of October 27, 2008 (Item No. 5) Page 3
Subject: Financial Policies
Our investment policy was modeled on the Government Finance Officers Associations
recommended practice. We have included an update based on changes that have occurred since
2000. Our quarterly reporting to the City Council is timely. Our practice is more conservative than
that allowed by state statutes, which has served us well in these times of financial turmoil.
Debt Management Policies
Staff is proposing the attached debt management policy. We have operated relatively conservatively
for many years, but without a written policy. The policy proposed will just formalize our intent not
to issue debt if we can cash flow the improvements and states that we will not issue debt beyond the
reasonable life of the asset to be purchased or constructed.
Reserve and Liquidity Policies
We have targeted only the General Fund at a 40% reserve amount via an existing informal
process/policy. Staff is proposing the attached policy to set targets for other tax-supported and
enterprise funds based on their historical needs and practices. These amounts are more a range of
acceptable values than a specific number. They are determined in large measure based on cash flow
needs and revenue volatility. The fund policies also show when it is appropriate to use fund balance,
acceptable use, and whether it can be for operations or transfer to another fund.
FINANCIAL OR BUDGET CONSIDERATION:
Staff expects that formalization and implementation of these policies will allow us to be more
proactive in managing the city’s financial health. We also expect that these policies will strengthen
our bond rating over time.
VISION CONSIDERATION:
Not Applicable.
Attachments: Policy Documents
S&P Rating Information
Prepared by: Bruce DeJong, Finance Director
Approved by: Tom Harmening, City Manager
St. Louis Park Debt Policy 1
City of St. Louis Park
Debt Policies
October 27, 2008
It is the policy of the City of St. Louis Park to establish guidelines for the use of debt in
financing capital acquisitions, repayment of debt, and management of the overall level of
debt in the city..
I. Credit Ratings: The City of St. Louis Park seeks to maintain the highest possible
credit ratings for all categories of short- and long-term General Obligation debt that
can be achieved without compromising delivery of basic City services and
achievement of adopted City policy objectives.
The City recognizes that external economic, natural, or other events may from time
to time affect the creditworthiness of its debt. Nevertheless, the Mayor and City
Council are committed to ensuring that actions within their control are prudent and
consistent with the highest standards of public financial management, and supportive
of the creditworthiness objectives defined herein.
II. Financial Disclosure: The City is committed to full and complete financial
disclosure, and to cooperating fully with rating agencies, institutional and individual
investors, City departments and agencies, other levels of government, and the
general public to share clear, comprehensible, and accurate financial information.
The City is committed to meeting disclosure requirements on a timely and
comprehensive basis.
Official statements accompanying debt issues, Comprehensive Annual Financial
Reports, and continuing disclosure statements will meet (at a minimum) the
standards articulated by the Municipal Standards Rulemaking Board (MSRB), the
Government Accounting Standards Board (GASB), the National Federation of
Municipal Analysts, the Securities and Exchange Commission (SEC), and Generally
Accepted Accounting Principles (GAAP). The Finance Department shall be
responsible for ongoing disclosure to established national information repositories
(NRMSRs) and for maintaining compliance with disclosure standards promulgated
by state and national regulatory bodies.
III. Debt Capacity: The City will keep outstanding debt within the limits prescribed by
State statute and at levels consistent with its creditworthiness objectives.
IV. Purposes and Uses of Debt
The City will normally rely on existing funds, project revenues, and grants from
other governments to finance capital projects such as major maintenance, equipment
acquisition, and small development projects. Debt may be used for capital projects
only when a project generates revenues over time that are used to retire the debt,
when debt is an appropriate means to achieve a fair allocation of costs between
current and future beneficiaries.
a. Asset Life: The City will consider the use of debt for the acquisition,
development, replacement, maintenance, or expansion of an asset only if it
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 4
St. Louis Park Debt Policy 2
has a useful life of at least five years. Debt will not be issued for periods
exceeding the useful life or average useful lives of the project or projects
to be financed.
b. Project Financing: In general, the City expects to make a cash
contribution to any project with an expected useful life of less than 10
years, rather than relying on 100% debt financing.
c. Debt Standards and Structure
Debt will be structured for the shortest period consistent with a fair
allocation of costs to current and future beneficiaries or users. Debt will be
structured to achieve the lowest possible net cost to the City given market
conditions, the urgency of the capital project, net revenues expected from
the project (if any), and the nature and type of security provided.
Moreover, to the extent possible, the City will design the repayment of its
overall debt so as to recapture rapidly its credit capacity for future use.
The City shall strive to repay at least 18 percent of the principal amount of
its total general obligation debt within five years and at least 35 percent
within ten years.
d. Backloading: The City will seek to structure debt with level principal
and interest costs over the life of the debt. "Backloading" of costs will be
considered only when natural disasters or extraordinary or unanticipated
external factors make the short-term cost of the debt prohibitive, when the
benefits derived from the debt issuance can clearly be demonstrated to be
greater in the future than in the present, when such structuring is beneficial
to the City’s overall amortization schedule, or when such structuring will
allow debt service to more closely match project revenues during the early
years of the project’s operation.
e. Variable Rate Debt: The City may choose to issue securities that pay a
rate of interest that varies according to pre-determined formula or results
from a periodic remarketing of the securities, consistent with state law and
covenants of pre-existing bonds, and depending on market conditions.
The City will have no more than 15% of its outstanding general obligation
debt in variable rate form.
V. Refundings: Periodic reviews of all outstanding debt will be undertaken to
determine refunding opportunities. Refunding will be considered (within federal
tax law constraints) if and when there is a net economic benefit of the refunding
or the refunding is essential in order to modernize covenants to thereby improve
operations and management.
VI. Debt Administration and Process
In general, City debt will be issued through a competitive bidding process. Bids
will be awarded on a true interest cost basis (TIC), providing other bidding
requirements are satisfied. In the event that the City receives more than one bid
with identical TICs, the tie may be broken by a flip of a coin.
a. Financial Advisor: The City will retain an external financial advisor, to
be selected for a term of up to four years, through a competitive process
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 5
St. Louis Park Debt Policy 3
administered by the City’s Finance Division of the Executive Services
Department. The utilization of the financial advisor for particular bond
sales will be at the discretion of the Finance Director on a case by case
basis and pursuant to the financial advisory services contract. The
financial advisors will have comprehensive municipal debt issuance
experience with diverse financial structuring requirements and pricing of
municipal securities.
b. Bond Counsel: The City will retain external bond counsel for all debt
issues. No debt will be issued by the City without a written opinion by
bond counsel affirming that the City is authorized to issue the debt, stating
that the City has met all state constitutional and statutory requirements
necessary for issuance, and determining the debt’s federal income tax
status.
c. Fiscal Agents: The Finance Department will utilize a fiscal agent on all
City indebtedness. Fiscal agent fees for outstanding bonds will be paid
from the Bond Interest and Redemption Fund, unless specified otherwise
by the Director of Finance.
VII. Arbitrage Compliance: The Finance Director shall maintain a system of record
keeping and reporting to meet the arbitrage rebate compliance requirements of
federal tax code.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 6
St. Louis Park Fund Balance Policy 1
City of St. Louis Park
Fund Balance Policy
October 27, 2008
The purpose of the fund balance policies is to establish appropriate fund balance levels for each
fund that is primarily supported by property tax revenues or user fees. These policies will ensure
that adequate resources are available to meet cash flow needs for carrying out the regular
operations of the City, as well as to meet the fund balance requirements identified in the City’s
long range financial plan. The funds that will be addressed in this policy are: General Fund,
Parks & Recreation, Park Improvement, Pavement Management, and Enterprise Funds.
I. General Fund
The General Fund is established to account for all revenues and expenditures which are
not required to be accounted for in other funds. Revenue sources include property taxes,
license and permit fees, fines and forfeits, service charges, intergovernmental revenues,
investment interest earnings, and transfers. The General Fund’s resources finance a wide
range of functions including the operations of general government, public safety, and
public works.
The City will strive to maintain a fund balance in the General Fund in the range of 35-
50% of the subsequent year’s budgeted expenditures. Since a significant source of
revenue in the General Fund comes from property taxes, maintaining a fund balance that
is equal to at least five months of operating expenditures ensures that sufficient resources
are available to fund basic City functions between property tax settlements. This range is
in conformance with guidance from the Office of the State Auditor (OSA). Amounts that
exceed 40% may be transferred out to other funds. A designation of fund balance may be
used to offset revenues earned in one year where substantial services are required to be
performed in the next fiscal period
II. Parks & Recreation
The Parks and Recreation Fund is a Special Revenue Fund that provides for both passive
and active recreational activities throughout the community. It receives the majority of
its funding from property taxes and user fees which finance specific activities. These
activities are separated into several divisions: Organized Recreation, Park Maintenance,
Forestry, Nature Center, Recreation Center and Vehicle Maintenance. Fees for programs
within these divisions are reviewed each year to determine the appropriate amount of
revenue to offset the costs and yet keep the program affordable for participants. In some
cases, the fee charged is either more market driven or may be based on ability or
willingness to pay, which will set the fees above or below the direct costs of running an
individual program.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 7
St. Louis Park Fund Balance Policy 2
The City will strive to maintain a fund balance in the Parks and Recreation Fund in the
range of 10-25% of the subsequent year’s budgeted expenditures. This lower percentage
is deemed adequate since many of the program revenues are received earlier in the year
than property tax settlements. Amounts that exceed 15% may be transferred out to other
funds.
III. Park Improvement Fund
The Park Improvement Fund pays for land, buildings, and infrastructure for the parks
within the city. Property taxes and park dedication fees make up the majority of the
revenues for this fund.
The City will strive to maintain a fund balance in the Park Improvement Fund in an
amount sufficient to support the ongoing capital expenditures planned in the CIP.
IV. Pavement Management Fund
The Pavement Management Fund is used to account for the financing of street
rehabilitation projects. Revenue sources are provided mainly through property taxes,
franchise fees, and transfers from the Water Utility and Sanitary Sewer Utility Funds.
Street projects are programmed into the City’s Capital Improvement Plan and are
generally planned five years in advance.
The City will strive to maintain the fund balance in the Pavement Management Fund in
an amount sufficient to support the ongoing capital expenditures planned in the CIP.
V. Enterprise Funds
These funds were established to account for the operation of Water, Sewer, Solid Waste,
and Storm Water operations which are designed to be self-supporting from user charges.
a. Water Utility
This fund is used to account for the provision of water services to the customers of
the City related to administration, operations, maintenance, billing and collection.
This fund is financed predominantly through user charges and investment income.
The City will strive to maintain a fund balance in the Water Utility Fund in the range
of 35-50% (4-6 months) of the subsequent year’s budgeted expenditures. Since a
significant source of revenue in the Water Utility Fund comes from user charges,
maintaining a fund balance that is equal to at least five months of operating
expenditures ensures that sufficient resources are available to fund basic City
functions between receipts of user charges. In addition, due to the age of water
infrastructure within the City, a higher percentage of fund balance is prudent to
address any potential issues that may arise.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 8
St. Louis Park Fund Balance Policy 3
b. Sewer Utility
This fund is used to account for the provisions of sewer services to the customers of
the City. All activities necessary to provide this utility to the customers are
administration, operations, maintenance, billing and collection. This fund is financed
predominantly through user charges and investment income.
The City will strive to maintain a fund balance in the Sewer Utility Fund in the range
of 35-50% (4-6 months) of the subsequent year’s budgeted expenditures. Since a
significant source of revenue in the Sewer Utility Fund comes from user charges,
maintaining a fund balance that is equal to at least five months of operating
expenditures ensures that sufficient resources are available to fund basic City
functions between receipts of user charges. In addition, due to the age of sewer
infrastructure within the City, a higher percentage of fund balance is prudent to
address any potential issues that may arise.
c. Solid Waste Utility
This fund is used to account for the provisions of solid waste services to the
customers of the City related to collection, disposal and recycling of solid waste.
This fund is financed predominantly through user charges and investment income.
The City will strive to maintain a fund balance in the Solid Waste Utility Fund in the
range of 25-35% of the subsequent year’s budgeted expenditures. Because of lower
fluctuation in this revenue stream, a lower percentage balance is justifiable. Since a
significant source of revenue in the Solid Waste Utility Fund comes from user
charges, maintaining a fund balance that is equal to at least three months of operating
expenditures ensures that sufficient resources are available to fund basic City
functions between receipts of user charges.
d. Storm Water Utility
This fund is used to account for the provision of storm water to the customers of the
City related to administration, operations, maintenance, billing and collection. This
fund is financed predominantly through user charges and investment income.
The City will strive to maintain a fund balance in the Storm Water Utility Fund in the
range of 25-35% of the subsequent year’s budgeted expenditures. Because of lower
fluctuation in this revenue stream, a lower percentage balance is justifiable. Since a
significant source of revenue in the Storm Water Utility Fund comes from user
charges, maintaining a fund balance that is equal to at least three months of operating
expenditures ensures that sufficient resources are available to fund basic City
functions between receipts of user charges.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 9
St. Louis Park Investment Policy 1
City of St. Louis Park
Investment Policy
October 27, 2008
It is the policy of the City of St. Louis Park to establish guidelines for the investment of
all public funds. This policy is designed to ensure the prudent management of public
funds, the availability of operating and capital funds when needed and providing the
highest investment return with maximum security and minimum risk.
I. SCOPE
This policy applies to all financial assets of the City of St. Louis Park. While
separate investment funds are created to accommodate reporting on certain
bonded indebtedness, individual investments are purchased using a pooled
approach for efficiency and maximum investment opportunity. The City’s funds
are defined in the City’s Comprehensive Annual Financial Report and include:
• General Fund;
• Special Revenue Funds;
• Debt Service Funds;
• Capital Project Funds;
• Proprietary Funds;
• Internal Service Funds;
II. OBJECTIVES
The primary objectives in priority order of the City’s investment activities will be:
A. Safety of Principal
Safety of principal is the foremost objective of the investment program.
Investments shall be undertaken in a manner that seeks to ensure
preservation of capital in the overall portfolio. The objective will be to
mitigate credit risk by purchasing only highly rated securities with
adequate collateral and interest rate risk by matching maturities to cash
flow needs and holding securities to maturity..
B. Liquidity
The investment portfolio will remain sufficiently liquid to enable the City
to meet all operating and capital requirements that might reasonably be
anticipated. A portion of the portfolio may be placed in money market
mutual funds or local government investment pools which offer same-day
liquidity.
C. Yield
The investment portfolio shall be designed with the objective of attaining
a market rate of return throughout budgetary and economic cycles, taking
into account investment risk constraints and liquidity needs.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 10
St. Louis Park Investment Policy 2
III. STANDARDS OF CARE
The prudent person standard shall be applied to the management of the portfolio.
This standard states: “Investments shall be made with judgment and care, under
circumstances then prevailing, which persons of prudence, discretion, and
intelligence exercise in the management of their own affairs, not for speculation,
but for investment, considering the probable safety of their capital as well as the
expected income to be derived.”
Investment officers acting in accordance with written procedures and this
investment policy and exercising due diligence shall be relieved of personal
responsibility for an individual security’s credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion and the
liquidity and the sale of securities are carried out in accordance with the terms of
this policy.
IV. INVESTMENT AUTHORIZATION
The Director of Finance/Treasurer is designated as the Investment Officer of the
City and is responsible for investment management decisions and activities. The
Director of Finance/Treasurer shall carryout established written procedures and
internal controls for the operation of the investment program consistent with this
investment policy. The Director of Finance/Treasurer is authorized, as allowed
under the State Statute, to designate depositories and broker-dealers for City
Funds.
V. CONFLICT OF INTEREST
Any city official involved in the investment process shall refrain from personal
business activity that could conflict with proper execution of the investment
program or which could impair his/her ability to make impartial investment
decisions. Employees shall disclose any material interests in financial institutions
with which they conduct business. Employees and officers shall refrain from
undertaking personal investment transactions with the same individual with which
business is conducted on behalf of the City.
VI. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
The Director of Finance/Treasurer will maintain a list of financial institutions
authorized to provide investment services to the City. All broker/dealers who
desire to become qualified bidders for investment transactions must supply the
Director of Finance/Treasurer with:
• Audited financial statements and proof of National Association of Security
Dealers (NASD) certification;
• Proof of Minnesota Registration Broker Notification and Certification form
required by Minnesota Statutes 118A prior to any investment transactions
with the City. The Broker Notification must be updated annually.
• The Official Broker/Dealer Questionnaire must be on file for each broker the
City is currently doing business with.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 11
St. Louis Park Investment Policy 3
• Certification of having read the City’s investment policy and agreement to
conduct investment transactions in accordance with the policy and objectives,
as well as state statutes.
• Written agreement to disclose potential conflicts of interest or risk to public
funds that might arise out of business transactions between the firm and the
City.
Authorized institutions must maintain an investment office within the Twin Cities
metropolitan area and have other Minnesota local government clients.
VII. AUTHORIZED INVESTMENTS
The City is authorized, under State Law Chapter 118A, to invest the securities
listed in Exhibit A.
VIII. COLLATERALIZATION
Full collateralization will be required on non-negotiable certificates of deposit.
All deposits will be insured or collateralized in accordance with Minnesota
Statutes Chapter 118.
IX. SAFEKEEPING
Investments shall be kept at the broker/dealer in the City’s name. Certificates will
be held at the financial institution in the City’s name. All securities should be a
risk category one according to the Government Accounting Standard No. 3. The
broker/dealer must provide asset protection of $10,000,000 through the Securities
Investor Protection Corporation (SIPC)
X. INVESTMENT PARAMETERS
The City’s investments shall be diversified as to specific maturity, issuer and
institution in order to minimize the risk to the portfolio. Investments should be
purchased to match expected cash flow needs, minimizing the market risk
associated with the early sale of the investments.
XI. REPORTING AND REVIEW
A. The investment portfolio will be managed in accordance with the
parameters outlined in this policy. The portfolio will be designed with the
objective of obtaining a rate of return throughout budgeting and economic
cycles, commensurate with the investment risk constraints and cash flow
needs.
B. The City’s investment policy shall be adopted by resolution by the City
Council. The City’s investments shall be reported to the City Council
quarterly. The information reported to the City Council should include:
1. A listing of individual securities held at end of reporting period.
2. A listing of investments by maturity date.
3. The percentage of the total portfolio in each type of investment.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 12
St. Louis Park Investment Policy 4
4. Rate of return for quarter.
5. Market to market analysis.
C. Interest earned on investments shall be allocated to various funds based on
each fund’s average monthly cash balance.
XII. STATUTORY AUTHORITY
Specific investment parameters for the investment of public funds by the City are
found in Minnesota Statutes Chapters 118A.
XIII. POLICY CONSIDERATIONS
A. Amendments
This policy shall be reviewed on an annual basis. Any changes must be
approved by City Council resolution.
B. Interest Allocation
The general fund shall be allocated a management fee equal to three
percent of the total net investment earnings of the investment pool,
excluding investments related to the Economic Development Authority.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 13
St. Louis Park Investment Policy 5
MAXIMUM PER MAXIMUM PER MINIMUM CREDIT MAXIMUM
INVESTMENT TYPE ISSUE INVESTMENT QUALITY MATURITY
US Treasuries No more than No limit. N/A Five years. If beyond
15% of the total five years, should be
portfolio. related to the specific
debt payments.
US Governmental No more than No limit. N/A Five years. If beyond
Agencies and Federally 15% of the total five years, should be
Sponsored Agency portfolio. related to specific
Securities. To include cash flow needs.
callables and step-ups
Commercial Paper - No more than No limit.Any two of the 270 days.
issued by United States 15% of the total following national
corporations or their portfolio.ratings: A1, P1, F1
Canadian subsidiaries or D1.
Repurchase Agreements No more than No limit.Provided they are 30 days.
or Reverse Repurchase 15% of the total fully collaterized at
Agreements portfolio.102% of market
value by US
Treasuries or
Agencies.
Bankers Acceptances - No more than No limit.Any two of the 270 days.
Fed eligible United 15% of the total following ratings: A1,
States banks portfolio.P1, F1 or D1.
Certificates of Deposit No more than No limit.Provided it is Five years. If beyond
15% of the total guaranteed by the five years, should be
portfolio.FDIC, FSLIC or is related to specific
backed by collateral cash flow needs.
as required by M.S.
118A.
Guaranteed Investment No more than The issuer's or
Contracts - issued or 15% of the total guarantor's short-
guaranteed by United portfolio.term and long term
States commercial banks unsecured debt must
domestic branches of be rated in one of
foreign banks, United the two highest
States Insurance categories by a
Companies, or their nationally recognized
Canadian subsidiaries.rating agency.
Should the issuer's
or guarantor's credit
quality be down-
graded below "AA" or "Aa",
EXHIBIT A
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 14
St. Louis Park Investment Policy 6
MAXIMUM PER MAXIMUM PER MINIMUM CREDIT MAXIMUM
INVESTMENT TYPE ISSUE INVESTMENT QUALITY MATURITY
General Obligations of No more than No more than Rated "A" or better Five years. If beyond
state or local government 15% of the total 50% of the by a national bond five years, should be
with taxing powers. portfolio. portfolio. rating service. related to specific
debt payments.
Revenue Obligation of No more than No more than Rated "AA" or better Five years. If beyond
any state or local govern- 15% of the total 50% of the by a national bond five years, should be
ment with taxing powers portfolio. portfolio. rating service. related to specific
debt payments.
General Obligation of the No more than No more than Rated "A" or better Five years. If beyond
Minnesota Housing 15% of the total 50% of the by a national bond five years, should be
Finance Agency which is portfolio.portfolio.rating service. related to specific
a moral obligation of debt payments.
the State of Minnesota
Money Market Mutual No limit.No limit.Invested primarily in N/A
Funds the securities
allowed by this
policy.
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 15
1
September 2008
City of St. Louis Park Purchasing Guide
Executive Summary
Purpose
The purpose is to provide a guide for general purchasing, contracts and professional services. Purchasing for
the City of St. Louis Park is established by the City Council under the City Charter, the City Code and State
Statute. This is intended as a guide; questions regarding this document should be directed to the Finance
Director or City Manager.
General Purchasing Required Approvals
Contract or Purchase
Amount
Documentation Department Head
or Designee
Finance
Director
City
Manager
Council
Less than $5,000 Open Market X
$5,000 - $25,000 2 or more quotes if
practical
X X
$25,000 - $100,000 2 or more quotes or
sealed bids –
competitive bidding
is allowed but not
required
X X X
$100,000+ Competitive bids
required
X X X X
Required Approvals
Professional Service Documentation Department Head
or Designee
City
Manager
Council
Up to $25,000 2 or more quotes, if possible X
$25,000 - $50,000 2 or more quotes, if possible X X
$50,000-$100,000 Multiple quotes recommended X X
$100,000+ Multiple quotes recommended X X X
Purchasing and Budget
All purchases must be within approved budget parameters. Purchases must be made in accordance with City
Charter, City Code, State Statutes, Federal Regulation and other applicable rules or regulations. Questions
regarding purchasing should be directed to the Finance Director.
Meeting of October 27, 2008 (Item No. 7)
Subject: Financial Policies Page 16
2
September 2008
Responsibility
The City Manager is the chief purchasing agent of the City and has the authority to approve purchases up to
$100,000 per the City Charter and State Statute. Purchases in excess of $100,000 typically require Council
approval and usually require competitive bid letting.
The City Manager shall identify Department Heads or other staff who shall be responsible for each fund or
department in the annual budget. These individuals shall be responsible for compliance with the annual
budget and for all expenditures for their departments and funds. The responsibility lies with each department
to keep the City Manager and Finance Director informed of purchases. Department Head may name a
“designee” who is allowed to approve department purchases within budget limitations.
Department Heads or their designee are responsible to follow purchasing regulations and procedures such as,
but not limited to; obtaining bids or quotes, maintain records of bids or quotes in accordance with records
retention requirements, place actual orders, receive and verify deliveries, and approve invoices for payment.
General Purchasing
Under City Charter and Ordinance, it has been determined purchasing will follow the Uniform Municipal
Contracting Law, Minnesota Statutes Chapter 471.345. This allows the City Manager the authority to
incorporate changes to our purchasing limitations in accordance with MN Statutes. City Manager may
develop a process which may be more restrictive than State Law, but may not be less restrictive. A "contract"
(general purchasing) means an agreement entered into by a municipality for the sale or purchase of supplies,
materials, equipment or the rental thereof, or the construction, alteration, repair or maintenance of real or
personal property.
Capital item purchases that have been authorized by the City Council through either the budget process or
the Capital Improvement Plan approval may be made using these guidelines. If an item has not been
specifically approved during the annual budget processes, then they must be taken back for explicit approval.
An example could be that we have added an employee who needs a city-provided vehicle to complete their
duties. Even though the vehicle cost is below $25,000, we still need to seek Council approval prior to its
purchase.
• Purchases less than $5,000: If the amount is below $5,000, the purchase may be made in the open
market. Department Heads may authorize any person in their department to make purchases at this
level.
• Purchases $5,000 -$25,000: If the amount is estimated to be greater than $5,000 up to $25,000,
the contract may be made by quotation or in the open market. If the contract is made upon
quotation it shall be based, so far as practicable, on at least two quotations.
• Purchases from $25,000-$100,000: If the amount is estimated to exceed $25,000 but not to
exceed $100,000, the contract may be made either by upon sealed bids or by direct negotiation, by
obtaining two or more quotations for the purchase or sale when possible and without advertising for
bids, or otherwise complying with the requirements of competitive bidding. If the formal sealed bid
process is used, the bidding procedure should be followed, which includes Council approval.
Meeting of October 27, 2008 (Item No. 7)
Subject: Financial Policies Page 17
3
September 2008
• Purchases in excess of $100,000: Sealed bids shall be obtained by public notice for major
purchases with final award by the City Council. Bids must be advertised in the City’s legal
newspaper, publicly opened and approved by Council resolution. There are some exceptions to this
law, including contracts that are funded in part by special assessments as set forth in M.S, 429.041,
subd.1. Questions about this process or thresholds should be directed to the City’s Finance Director.
Professional Services
Contracts for professional services in excess of $100,000 shall be submitted to the City Council for approval.
The term “Professional Services” applies to all advisory services such as, but not limited to: auditing,
engineering, financial, legal, personnel, technical, training, or other services. Contracts for professional
services shall be made only with responsible consultants who have the capability to successfully fulfill the
contractual requirements. Consideration shall be given to their past performance and experience, their
financial capacity to complete the project, the availability of personnel, and other appropriate criteria. The
nature of the professional service is typically written as a Request for Proposal (RFP).
Other Funds
This document is a summary guide for purchasing. Questions on purchasing as it relates to the Economic
Development Authority, Housing Authority or other funds should be directed to the Finance Director.
Emergency Operations and Other
This document is not intended to cover all purchasing situations and regulations. For instance, purchases
needed for emergency operations should follow procedures set out in the Emergency Plan, Charter and other
regulations as approved by the City Manager or designee. Questions regarding purchasing should be directed
to the Department Head or Finance Director.
Reviewed by: ____________________________________ Date:____________
Finance Director
Approved by:____________________________________ Date:____________
City Manager
Meeting of October 27, 2008 (Item No. 7)
Subject: Financial Policies Page 18
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 19
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 20
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 21
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 22
Meeting of October 27, 2008 (Item No. 5)
Subject: Financial Policies Page 23
Meeting Date: October 27, 2008
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:
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: October 27, 2008
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:
September 2008 Monthly Financial Report.
RECOMMENDED ACTION:
No action required at this time. This is a written report for information sharing purposes.
POLICY CONSIDERATION:
None.
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 along with department
level reports. These funds are the primary concern in analyzing the City’s financial health because
they represent most of the discretionary use of tax levy dollars.
For the month of September, actual revenues (except for property taxes and state aids) and
expenditures should generally run about 75% of the annual budget. Significant variances from
budget are highlighted below accompanied with a general discussion for the variance.
General Fund
Revenues:
• The second half tax settlement will not be received until December, so we are still on track
with our largest revenue source with just over 50% collected to date.
• Permit revenues have already exceeded the annual budget. This has been primarily driven by
roofing and siding permits in response to the hail damage from the May 31 storm. The
other area that has been a positive revenue producer is the West End redevelopment project.
This revenue amount is currently $519,000, some of which will be used to offset inspection
costs that will not be incurred until next year.
• Charges for service are lagging behind because there is a delay between billing for services
and the actual receipt of the revenue.
• Transfers In from other funds will be done at year end for the full amount due, but currently
show a zero amount.
Expenditures:
• Finance – The sales tax audit assessment was paid in July in the amount of $61,253.96. This
expense is reflected in Finance under Other Expense. As discussed in the June 9, 2008
report to Council, if this expense can’t be covered in the Finance budget, then it will be paid
from General Fund reserves.
Meeting of August 25, 2008 (Item No. 7) Page 2
Subject: September 2008 Monthly Financial Report
• Public Works – Operations has purchased most of the salt and sand needed for the year
along with their sign materials which has used a large portion of the supplies budget.
Parks and Recreation
The Park and Recreation department runs many of its programs during the summer. This causes
both revenues and expenditures to go well over the 67% figure. However, the aggregate amounts
track well compared to year-to-date (YTD) figures from 2007.
Revenues/Expenditures:
• Many divisions look like they have expended more than 75% of their budget. This is
primarily driven by seasonal program expenses which are primarily performed over the
summer which is the season with the highest participation in our activities.
• Environment is high for Services & Other Charges due to the tree work done over the spring
and summer months. This item depends on the number of diseased trees and is less
controllable than other budget items. The expense is partially offset by increased revenues.
While we have paid for the removal of many trees, we are anticipating more revenues because
many of the billings for boulevard trees have just recently been sent to property owners.
• Vehicle Maintenance is exceeding budget as a result of several factors: First, petroleum
products (gas, diesel, and lubricants) are exceeding budget due to unprecedented prices
earlier this year. Staff is closely monitoring this line item. Secondly, most parts, which will be
used in the upfitting process for new vehicles, have been purchased for the year.
FINANCIAL OR BUDGET CONSIDERATION:
This report indicates that we are tracking well with budgeted revenues and expenditures. No budget
shortfall is evident at this time. It appears that we should have a modest surplus at the end of the
year which will increase our fund balance.
VISION CONSIDERATION:
Not applicable.
Attachments: Monthly Financial Reports
Prepared by: Bruce DeJong, Finance Director
Approved by: Tom Harmening, City Manager
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
2Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
100 GENERAL
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 14,107,179.00-7,134,840.22- 6,972,338.78- 50.58 |13,170,348.00-6,299,461.30- 47.83
4300 INTERGOVERNMENTAL 45,205.00-22,602.50- 22,602.50- 50.00 |45,205.00-22,602.50- 50.00
4600 CHARGES FOR SERVICES 229.75-229.75 |612.13-
5100 SPECIAL ASSESSMENTS |1,195.07-
5200 MISCELLANEOUS 85,000.00-124.20- 84,875.80-.15 |85,000.00-63,846.17- 75.11
4001 REVENUES 14,237,384.00-7,157,796.67-7,079,587.33-50.27 |13,300,553.00-6,387,717.17-48.03
6001 EXPENDITURES
6350 SERVICES & OTHER CHARGES 52.50 52.50-|21.50
6001 EXPENDITURES 52.50 52.50-|21.50
8001 OTHER INCOME
8010 TRANSFERS IN 2,471,711.00-2,471,711.00-|2,571,039.00-1,991,127.06- 77.44
8065 SALE OF SALVAGE |10,063.00-
8100 INTEREST 325,000.00-86,604.42 411,604.42- 26.65- |292,599.00-61,270.93 20.94-
8200 MISC RECEIPTS |100.00-
8001 OTHER INCOME 2,796,711.00-86,604.42 2,883,315.42-3.10-|2,863,638.00-1,940,019.13-67.75
8501 OTHER EXPENSE
8580 MISC EXPENSE 180,000.00 180,000.00 |180,000.00 6,712.59 3.73
8501 OTHER EXPENSE 180,000.00 180,000.00 |180,000.00 6,712.59 3.73
4000 REVENUES & EXPENSES 16,854,095.00-7,071,139.75-9,782,955.25-41.96 |15,984,191.00-8,321,002.21-52.06
100 GENERAL 16,854,095.00-7,071,139.75-9,782,955.25-41.96 |15,984,191.00-8,321,002.21-52.06
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 2
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
4Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 178,000.00-1,145.83- 179,966.65-1,966.65 101.10 |174,000.00-178,608.30- 102.65
4270 FINES & FORFEITS 8,000.00-4,000.00-4,000.00- 50.00 |3,000.00-
4300 INTERGOVERNMENTAL |14,500.00-
4600 CHARGES FOR SERVICES |60.00-
4001 REVENUES 186,000.00-1,145.83-183,966.65-2,033.35-98.91 |191,500.00-178,668.30-93.30
6001 EXPENDITURES
6002 PERSONAL SERVICES 511,250.00 45,819.99 390,122.49 121,127.51 76.31 |507,731.60 365,373.96 71.96
6210 SUPPLIES 4,350.00 997.79 5,254.35 904.35- 120.79 |3,950.00 1,680.99 42.56
6350 SERVICES & OTHER CHARGES 518,727.00 52,334.96 316,480.74 202,246.26 61.01 |471,249.00 308,176.39 65.40
6001 EXPENDITURES 1,034,327.00 99,152.74 711,857.58 322,469.42 68.82 |982,930.60 675,231.34 68.70
8001 OTHER INCOME
8200 MISC REVENUE 30.00-30.00 |43.25-
8001 OTHER INCOME 30.00-30.00 |43.25-
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 8.25 8.25-|6.74
8590 BANK CHARGES/CREDIT CD FEES 14.95 14.95 14.95-|.54
8501 OTHER EXPENSE 14.95 23.20 23.20-|7.28
4000 REVENUES & EXPENSES 848,327.00 98,021.86 527,884.13 320,442.87 62.23 |791,430.60 496,527.07 62.74
110 ADMINISTRATION 848,327.00 98,021.86 527,884.13 320,442.87 62.23 |791,430.60 496,527.07 62.74
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 3
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
6Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 50,000.00-3,909.25- 27,364.75- 22,635.25- 54.73 |47,000.00-52,381.50- 111.45
5200 MISCELLANEOUS |50.00-
4001 REVENUES 50,000.00-3,909.25-27,364.75-22,635.25-54.73 |47,000.00-52,431.50-111.56
6001 EXPENDITURES
6002 PERSONAL SERVICES 951,407.00 74,579.22 657,537.50 293,869.50 69.11 |898,670.00 641,349.04 71.37
6210 SUPPLIES 4,000.00 2,590.53 1,409.47 64.76 |3,600.00 3,354.77 93.19
6350 SERVICES & OTHER CHARGES 167,356.00 2,348.89 78,161.61 89,194.39 46.70 |150,762.00 196,281.95 130.19
6001 EXPENDITURES 1,122,763.00 76,928.11 738,289.64 384,473.36 65.76 |1,053,032.00 840,985.76 79.86
8001 OTHER INCOME
8170 ADMINISTRATION FEES 125.00- 5,750.00-5,750.00 |6,000.00-7,425.00- 123.75
8200 MISC REVENUE 281.71-281.71 |4.80-
8001 OTHER INCOME 125.00-6,031.71-6,031.71 |6,000.00-7,429.80-123.83
8501 OTHER EXPENSE
8580 MISC EXPENSE 150.00 61,253.96 61,103.96- ********* |150.00 117.63 78.42
8590 BANK CHARGES/CREDIT CD FEES 300.00 2.96 297.04 .99 |300.00 12.81 4.27
8501 OTHER EXPENSE 450.00 61,256.92 60,806.92-*********|450.00 130.44 28.99
4000 REVENUES & EXPENSES 1,073,213.00 72,893.86 766,150.10 307,062.90 71.39 |1,000,482.00 781,254.90 78.09
120 FINANCE 1,073,213.00 72,893.86 766,150.10 307,062.90 71.39 |1,000,482.00 781,254.90 78.09
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 4
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
8Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 9,000.00-3,142.00-5,858.00- 34.91 |9,000.00-15,738.00- 174.87
4001 REVENUES 9,000.00-3,142.00-5,858.00-34.91 |9,000.00-15,738.00-174.87
6001 EXPENDITURES
6002 PERSONAL SERVICES 459,624.00 39,279.75 346,136.95 113,487.05 75.31 |433,712.46 335,372.18 77.33
6210 SUPPLIES 2,000.00 115.40 793.68 1,206.32 39.68 |2,000.00 1,292.59 64.63
6350 SERVICES & OTHER CHARGES 168,050.00 5,335.08 95,034.18 73,015.82 56.55 |132,660.00 93,615.46 70.57
6001 EXPENDITURES 629,674.00 44,730.23 441,964.81 187,709.19 70.19 |568,372.46 430,280.23 75.70
8001 OTHER INCOME
8200 MISC REVENUE |117.50-
8001 OTHER INCOME |117.50-
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 620,674.00 44,730.23 438,822.81 181,851.19 70.70 |559,372.46 414,424.73 74.09
130 HUMAN RESOURCES 620,674.00 44,730.23 438,822.81 181,851.19 70.70 |559,372.46 414,424.73 74.09
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 5
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
9Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 12,000.00-900.00- 9,405.00-2,595.00- 78.38 |12,000.00-9,485.00- 79.04
4600 CHARGES FOR SERVICES 572,675.00- 64,857.37- 360,057.10- 212,617.90- 62.87 |553,028.63-370,467.38- 66.99
5200 MISCELLANEOUS 14,862.42 14,862.42-|
4001 REVENUES 584,675.00-65,757.37-354,599.68-230,075.32-60.65 |565,028.63-379,952.38-67.24
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,019,147.00 85,944.36 747,507.29 271,639.71 73.35 |968,204.14 713,251.29 73.67
6210 SUPPLIES 3,000.00 449.50 2,550.50 14.98 |3,000.00 736.21 24.54
6300 NON-CAPITAL EQUIPMENT 1,000.00 1,000.00 |1,000.00
6350 SERVICES & OTHER CHARGES 57,750.00 35,134.49 44,064.27 13,685.73 76.30 |52,750.00 61,586.29 116.75
6001 EXPENDITURES 1,080,897.00 121,078.85 792,021.06 288,875.94 73.27 |1,024,954.14 775,573.79 75.67
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 496,222.00 55,321.48 437,421.38 58,800.62 88.15 |459,925.51 395,621.41 86.02
135 COMMUNITY DEVELOPMENT 496,222.00 55,321.48 437,421.38 58,800.62 88.15 |459,925.51 395,621.41 86.02
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 6
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
10Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 8,200.00-8,200.00-|8,200.00-
5200 MISCELLANEOUS 15,000.00-1,250.00- 12,813.33-2,186.67- 85.42 |16,400.00-12,966.68- 79.07
4001 REVENUES 23,200.00-1,250.00-12,813.33-10,386.67-55.23 |24,600.00-12,966.68-52.71
6001 EXPENDITURES
6002 PERSONAL SERVICES 510,784.00 41,740.29 377,398.86 133,385.14 73.89 |484,355.24 364,735.36 75.30
6210 SUPPLIES 109,500.00 5,660.22 55,282.84 54,217.16 50.49 |110,500.00 46,990.38 42.53
6300 NON-CAPITAL EQUIPMENT 31,000.00 2,263.01 6,685.05 24,314.95 21.56 |30,000.00 13,252.85 44.18
6350 SERVICES & OTHER CHARGES 536,642.00 47,395.87 325,258.14 211,383.86 60.61 |539,512.00 346,873.60 64.29
6001 EXPENDITURES 1,187,926.00 97,059.39 764,624.89 423,301.11 64.37 |1,164,367.24 771,852.19 66.29
8001 OTHER INCOME
8200 MISC REVENUE 385.09-385.09-385.09 |
8001 OTHER INCOME 385.09-385.09-385.09 |
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 6.19 6.19 6.19-|
8501 OTHER EXPENSE 6.19 6.19 6.19-|
4000 REVENUES & EXPENSES 1,164,726.00 95,430.49 751,432.66 413,293.34 64.52 |1,139,767.24 758,885.51 66.58
140 FACILITIES MAINTENANCE 1,164,726.00 95,430.49 751,432.66 413,293.34 64.52 |1,139,767.24 758,885.51 66.58
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 7
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
11Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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
6001 EXPENDITURES
6002 PERSONAL SERVICES 566,679.00 49,254.58 481,386.99 85,292.01 84.95 |613,992.71 448,401.47 73.03
6210 SUPPLIES 31,200.00 1,556.04 19,205.82 11,994.18 61.56 |29,400.00 25,020.84 85.10
6300 NON-CAPITAL EQUIPMENT 2,300.00 107.27 2,021.43 278.57 87.89 |300.00 13,751.82 4,583.94
6350 SERVICES & OTHER CHARGES 860,660.00 58,798.20 546,630.08 314,029.92 63.51 |846,483.00 633,658.35 74.86
6001 EXPENDITURES 1,460,839.00 109,716.09 1,049,244.32 411,594.68 71.82 |1,490,175.71 1,120,832.48 75.21
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 15.97 50.54 50.54-|
8501 OTHER EXPENSE 15.97 50.54 50.54-|
4000 REVENUES & EXPENSES 1,460,839.00 109,732.06 1,049,294.86 411,544.14 71.83 |1,490,175.71 1,120,832.48 75.21
145 INFORMATION RESOURCES 1,460,839.00 109,732.06 1,049,294.86 411,544.14 71.83 |1,490,175.71 1,120,832.48 75.21
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 8
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
12Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 2,500.00- 2,500.00-2,500.00 |
4001 REVENUES 2,500.00-2,500.00-2,500.00 |
6001 EXPENDITURES
6002 PERSONAL SERVICES 173,932.00 7,381.89 65,023.23 108,908.77 37.38 |99,061.47 51,178.26 51.66
6210 SUPPLIES |93.16
6300 NON-CAPITAL EQUIPMENT |797.00
6350 SERVICES & OTHER CHARGES 113,850.00 19,483.09 121,841.50 7,991.50- 107.02 |119,690.00 89,725.48 74.96
6001 EXPENDITURES 287,782.00 26,864.98 186,864.73 100,917.27 64.93 |218,751.47 141,793.90 64.82
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 16.18 16.18-|
8501 OTHER EXPENSE 16.18 16.18-|
4000 REVENUES & EXPENSES 287,782.00 24,364.98 184,380.91 103,401.09 64.07 |218,751.47 141,793.90 64.82
150 COMMUNICATIONS & MARKETING 287,782.00 24,364.98 184,380.91 103,401.09 64.07 |218,751.47 141,793.90 64.82
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 9
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
14Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 20.00-20.00 |70.00-
4270 FINES & FORFEITS 302,600.00-186,623.71- 115,976.29- 61.67 |306,600.00-185,446.24- 60.48
4300 INTERGOVERNMENTAL 882,160.00- 29,113.58- 365,859.16- 516,300.84- 41.47 |841,075.15-438,979.70- 52.19
4600 CHARGES FOR SERVICES 110,300.00-9,190.75- 65,277.11- 45,022.89- 59.18 |119,300.00-74,628.60- 62.56
4001 REVENUES 1,295,060.00-38,304.33-617,779.98-677,280.02-47.70 |1,266,975.15-699,124.54-55.18
6001 EXPENDITURES
6002 PERSONAL SERVICES 6,185,321.00 556,516.54 4,644,614.73 1,540,706.27 75.09 |5,965,980.09 4,269,342.21 71.56
6210 SUPPLIES 155,300.00 4,745.81 63,039.97 92,260.03 40.59 |142,700.00 64,491.70 45.19
6300 NON-CAPITAL EQUIPMENT 33,550.00 3,465.30 11,002.18 22,547.82 32.79 |27,350.00 16,702.56 61.07
6350 SERVICES & OTHER CHARGES 552,343.00 17,119.00 194,810.85 357,532.15 35.27 |540,073.00 281,213.60 52.07
6001 EXPENDITURES 6,926,514.00 581,846.65 4,913,467.73 2,013,046.27 70.94 |6,676,103.09 4,631,750.07 69.38
8001 OTHER INCOME
8070 OTHER RECOVERIES 2,000.00-281.66-445.00-1,555.00- 22.25 |2,000.00-3,251.30- 162.57
8100 INTEREST |8,500.00-299.75- 3.53
8001 OTHER INCOME 2,000.00-281.66-445.00-1,555.00-22.25 |10,500.00-3,551.05-33.82
8501 OTHER EXPENSE
8580 MISC EXPENSE 500.00 500.00 |500.00 262.48 52.50
8590 BANK CHARGES/CREDIT CD FEES 100.00 3.28 9.40-109.40 9.40- |183.14
8501 OTHER EXPENSE 600.00 3.28 9.40-609.40 1.57-|500.00 445.62 89.12
4000 REVENUES & EXPENSES 5,630,054.00 543,263.94 4,295,233.35 1,334,820.65 76.29 |5,399,127.94 3,929,520.10 72.78
160 POLICE 5,630,054.00 543,263.94 4,295,233.35 1,334,820.65 76.29 |5,399,127.94 3,929,520.10 72.78
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 10
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
15Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 73,127.00 6,273.28 55,216.68 17,910.32 75.51 |71,292.35 51,091.66 71.66
6210 SUPPLIES 1,100.00 114.00 145.73 954.27 13.25 |1,100.00 232.63 21.15
6350 SERVICES & OTHER CHARGES 9,756.00 5,089.75 4,666.25 52.17 |44,005.00 41,125.68 93.46
6001 EXPENDITURES 83,983.00 6,387.28 60,452.16 23,530.84 71.98 |116,397.35 92,449.97 79.43
8001 OTHER INCOME
8010 TRANSFERS IN 83,983.00-83,983.00-|83,797.00-
8001 OTHER INCOME 83,983.00-83,983.00-|83,797.00-
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 6,387.28 60,452.16 60,452.16-|32,600.35 92,449.97 283.59
161 COMMUNITY OUTREACH - POLICE 6,387.28 60,452.16 60,452.16-|32,600.35 92,449.97 283.59
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 11
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
16Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 55,000.00-2,664.90- 31,266.42- 23,733.58- 56.85 |55,000.00-29,366.06- 53.39
4300 INTERGOVERNMENTAL 332,000.00-332,000.00-|298,024.00-20,410.70- 6.85
4600 CHARGES FOR SERVICES 4,000.00-170.00- 9,895.00-5,895.00 247.38 |5,500.00-1,765.00- 32.09
4001 REVENUES 391,000.00-2,834.90-41,161.42-349,838.58-10.53 |358,524.00-51,541.76-14.38
6001 EXPENDITURES
6002 PERSONAL SERVICES 2,712,378.00 204,392.47 1,924,614.33 787,763.67 70.96 |2,494,897.00 1,865,466.07 74.77
6210 SUPPLIES 93,648.00 1,057.32 61,566.38 32,081.62 65.74 |60,398.00 20,238.81 33.51
6300 NON-CAPITAL EQUIPMENT |1,700.00
6350 SERVICES & OTHER CHARGES 223,092.00 7,326.92 65,965.67 157,126.33 29.57 |199,527.00 131,210.14 65.76
6001 EXPENDITURES 3,029,118.00 212,776.71 2,052,146.38 976,971.62 67.75 |2,756,522.00 2,016,915.02 73.17
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 100.00-100.00 |5,000.00-
8200 MISC REVENUE |23.00-
8001 OTHER INCOME 100.00-100.00 |5,023.00-
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES |4.36
8590 BANK CHARGES/CREDIT CD FEES |11.95
8501 OTHER EXPENSE |16.31
4000 REVENUES & EXPENSES 2,638,118.00 209,941.81 2,010,884.96 627,233.04 76.22 |2,397,998.00 1,960,366.57 81.75
165 FIRE PROTECTION 2,638,118.00 209,941.81 2,010,884.96 627,233.04 76.22 |2,397,998.00 1,960,366.57 81.75
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 12
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
17Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 2,392,615.00- 338,555.05- 2,912,078.20- 519,463.20 121.71 |2,347,200.00-1,812,723.20- 77.23
4270 FINES & FORFEITS |400.00-
4300 INTERGOVERNMENTAL 445.65-445.65 |
4600 CHARGES FOR SERVICES 800.00-105.00-882.00-82.00 110.25 |800.00-16,418.91 2,052.36-
4001 REVENUES 2,393,415.00-338,660.05-2,913,405.85-519,990.85 121.73 |2,348,000.00-1,796,704.29-76.52
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,771,747.00 151,998.27 1,331,449.44 440,297.56 75.15 |1,703,179.00 1,217,474.15 71.48
6210 SUPPLIES 11,500.00 2,926.32 12,905.11 1,405.11- 112.22 |12,500.00 5,872.30 46.98
6350 SERVICES & OTHER CHARGES 69,627.00 9,782.28 47,567.03 22,059.97 68.32 |77,627.00 48,529.29 62.52
6001 EXPENDITURES 1,852,874.00 164,706.87 1,391,921.58 460,952.42 75.12 |1,793,306.00 1,271,875.74 70.92
8001 OTHER INCOME
8200 MISC RECEIPTS 10.00 215.60-215.60 |40.00-
8001 OTHER INCOME 10.00 215.60-215.60 |40.00-
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 117.68 117.68-|13,163.56
8501 OTHER EXPENSE 117.68 117.68-|13,163.56
4000 REVENUES & EXPENSES 540,541.00-173,943.18-1,521,582.19-981,041.19 281.49 |554,694.00-511,704.99-92.25
170 INSPECTIONAL SERVICES 540,541.00-173,943.18-1,521,582.19-981,041.19 281.49 |554,694.00-511,704.99-92.25
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 13
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
18Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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
4600 CHARGES FOR SERVICES |3,000.00-17,632.97- 587.77
4001 REVENUES |3,000.00-17,632.97-587.77
6001 EXPENDITURES
6002 PERSONAL SERVICES 793,133.00 72,566.74 580,273.82 212,859.18 73.16 |766,936.63 576,889.88 75.22
6210 SUPPLIES 4,500.00 373.36 1,690.81 2,809.19 37.57 |5,000.00 1,850.69 37.01
6300 NON-CAPITAL EQUIPMENT 1,500.00 1,500.00 |2,000.00
6350 SERVICES & OTHER CHARGES 33,450.00 976.54 20,889.85 12,560.15 62.45 |25,650.00 16,000.98 62.38
6001 EXPENDITURES 832,583.00 73,916.64 602,854.48 229,728.52 72.41 |799,586.63 594,741.55 74.38
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 832,583.00 73,916.64 602,854.48 229,728.52 72.41 |796,586.63 577,108.58 72.45
175 PUBLIC WORKS - ADMINISTRATION 832,583.00 73,916.64 602,854.48 229,728.52 72.41 |796,586.63 577,108.58 72.45
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 14
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
19Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 75,000.00-2,850.00- 67,850.00-7,150.00- 90.47 |48,000.00-107,800.00- 224.58
4600 CHARGES FOR SERVICES 330,000.00-1,075.00- 328,925.00-.33 |300,000.00-208,186.20- 69.40
4001 REVENUES 405,000.00-2,850.00-68,925.00-336,075.00-17.02 |348,000.00-315,986.20-90.80
6001 EXPENDITURES
6002 PERSONAL SERVICES 690,511.00 60,813.42 537,063.09 153,447.91 77.78 |660,469.39 519,333.79 78.63
6210 SUPPLIES 7,000.00 106.36 4,020.73 2,979.27 57.44 |6,800.00 2,730.29 40.15
6300 NON-CAPITAL EQUIPMENT 2,000.00 2,000.00 |1,600.00
6350 SERVICES & OTHER CHARGES 85,671.00 1,380.47 18,793.91 66,877.09 21.94 |76,433.00 85,260.42 111.55
6001 EXPENDITURES 785,182.00 62,300.25 559,877.73 225,304.27 71.31 |745,302.39 607,324.50 81.49
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 25.27 25.27-|
8501 OTHER EXPENSE 25.27 25.27-|
4000 REVENUES & EXPENSES 380,182.00 59,450.25 490,978.00 110,796.00-129.14 |397,302.39 291,338.30 73.33
176 PUBLIC WORKS - ENGINEERING 380,182.00 59,450.25 490,978.00 110,796.00-129.14 |397,302.39 291,338.30 73.33
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 15
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
20Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 100.00-30.00-70.00- 30.00 |300.00-60.00- 20.00
4270 FINES & FORFEITS 400.00-25.00 658.00-258.00 164.50 |460.00-
4300 INTERGOVERNMENTAL 450,000.00-440,862.40-9,137.60- 97.97 |430,000.00-401,963.30- 93.48
5200 MISCELLANEOUS |10,000.00-
4001 REVENUES 450,500.00-25.00 441,550.40-8,949.60-98.01 |440,300.00-402,483.30-91.41
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,219,515.00 98,751.51 905,643.19 313,871.81 74.26 |1,189,579.99 871,559.44 73.27
6210 SUPPLIES 331,000.00 36,427.62 345,404.56 14,404.56- 104.35 |305,500.00 259,535.39 84.95
6300 NON-CAPITAL EQUIPMENT 755.34 755.34-|
6350 SERVICES & OTHER CHARGES 861,898.00 3,129.02 304,474.15 557,423.85 35.33 |800,583.00 474,442.02 59.26
7800 CAPITAL OUTLAY 248.23 248.23-|
6001 EXPENDITURES 2,412,413.00 138,308.15 1,556,525.47 855,887.53 64.52 |2,295,662.99 1,605,536.85 69.94
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 1,961,913.00 138,333.15 1,114,975.07 846,937.93 56.83 |1,855,362.99 1,203,053.55 64.84
177 PUBLIC WORKS - OPERATIONS 1,961,913.00 138,333.15 1,114,975.07 846,937.93 56.83 |1,855,362.99 1,203,053.55 64.84
01000 GENERAL FUND 3.00-1,357,844.85 4,138,042.93 4,138,045.93-**********|1.71-3,330,469.87 **********
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 16
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
21Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 3,750,197.00-1,875,098.50- 1,875,098.50- 50.00 |3,540,854.00-1,770,427.92- 50.00
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 242,070.00-170.00 154,616.70- 87,453.30- 63.87 |242,870.00-193,110.90- 79.51
5100 SPECIAL ASSESSMENTS |27,569.35-
5200 MISCELLANEOUS 19,600.00-204.00- 9,762.22-9,837.78- 49.81 |19,600.00-21,570.50- 110.05
4001 REVENUES 4,056,569.00-34.00-2,061,828.42-1,994,740.58-50.83 |3,848,026.00-2,035,029.67-52.89
6001 EXPENDITURES
6002 PERSONAL SERVICES 711,222.00 56,095.38 557,846.32 153,375.68 78.43 |685,781.00 545,248.12 79.51
6210 SUPPLIES 66,892.00 686.55 28,903.97 37,988.03 43.21 |69,832.00 23,736.78 33.99
6350 SERVICES & OTHER CHARGES 472,585.00 19,650.43 407,109.81 65,475.19 86.15 |467,741.00 406,002.05 86.80
6001 EXPENDITURES 1,250,699.00 76,432.36 993,860.10 256,838.90 79.46 |1,223,354.00 974,986.95 79.70
8001 OTHER INCOME
8100 INTEREST 1,600.00-1,600.00-|8,000.00-
8130 CONTRIBUTIONS/DONATIONS 13,100.00-3,000.00- 10,100.00- 22.90 |18,600.00-3,405.00- 18.31
8200 MISC REVENUE 25,345.89- 25,345.89 |
8001 OTHER INCOME 14,700.00-28,345.89-13,645.89 192.83 |26,600.00-3,405.00-12.80
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES |55.30
8580 MISC EXPENSE |1,316.50
8590 BANK CHARGES/CREDIT CD FEES 93.99 93.99-|11,482.92
8501 OTHER EXPENSE 93.99 93.99-|12,854.72
4000 REVENUES & EXPENSES 2,820,570.00-76,398.36 1,096,220.22-1,724,349.78-38.87 |2,651,272.00-1,050,593.00-39.63
200 ORGANIZED RECREATION 2,820,570.00-76,398.36 1,096,220.22-1,724,349.78-38.87 |2,651,272.00-1,050,593.00-39.63
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 17
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
22Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 645,500.00-381.00 541,315.78- 104,184.22- 83.86 |642,500.00-597,639.54- 93.02
5200 MISCELLANEOUS 691,200.00-419,693.80- 271,506.20- 60.72 |678,200.00-455,587.00- 67.18
4001 REVENUES 1,336,700.00-381.00 961,009.58-375,690.42-71.89 |1,320,700.00-1,053,226.54-79.75
6001 EXPENDITURES
6002 PERSONAL SERVICES 765,999.00 40,634.31 593,458.48 172,540.52 77.48 |735,941.56 573,359.60 77.91
6210 SUPPLIES 167,100.00 13,250.76 156,115.40 10,984.60 93.43 |160,300.00 150,955.68 94.17
6300 NON-CAPITAL EQUIPMENT |4,832.97
6350 SERVICES & OTHER CHARGES 413,284.00 72,889.80 364,107.65 49,176.35 88.10 |411,358.00 308,033.72 74.88
7800 CAPITAL OUTLAY 12,000.00 12,000.00 |12,000.00
6001 EXPENDITURES 1,358,383.00 126,774.87 1,113,681.53 244,701.47 81.99 |1,319,599.56 1,037,181.97 78.60
8001 OTHER INCOME
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 2.28 2.28-|10.12
8501 OTHER EXPENSE 2.28 2.28-|10.12
4000 REVENUES & EXPENSES 21,683.00 127,155.87 152,674.23 130,991.23-704.12 |1,100.44-16,034.45-1,457.09
201 RECREATION CENTER 21,683.00 127,155.87 152,674.23 130,991.23-704.12 |1,100.44-16,034.45-1,457.09
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 18
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
23Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 250.00- 5,950.00-5,950.00 |5,950.00-
4600 CHARGES FOR SERVICES 8,700.00-8,700.00-|8,700.00-2,700.00- 31.03
5200 MISCELLANEOUS 11,600.00-200.00- 34,023.84- 22,423.84 293.31 |10,600.00-23,840.03- 224.91
4001 REVENUES 20,300.00-450.00-39,973.84-19,673.84 196.92 |19,300.00-32,490.03-168.34
6001 EXPENDITURES
6002 PERSONAL SERVICES 961,356.00 78,842.81 762,612.93 198,743.07 79.33 |933,626.73 730,937.30 78.29
6210 SUPPLIES 88,700.00 16,333.46 80,818.31 7,881.69 91.11 |88,700.00 69,507.67 78.36
6300 NON-CAPITAL EQUIPMENT 4,000.00 1,982.01 2,017.99 49.55 |4,000.00 3,196.12 79.90
6350 SERVICES & OTHER CHARGES 316,462.00 8,592.86 165,474.07 150,987.93 52.29 |300,055.00 243,157.89 81.04
7800 CAPITAL OUTLAY 7,000.00 7,000.00 |7,000.00
6001 EXPENDITURES 1,377,518.00 103,769.13 1,010,887.32 366,630.68 73.38 |1,333,381.73 1,046,798.98 78.51
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 1,357,218.00 103,319.13 970,913.48 386,304.52 71.54 |1,314,081.73 1,014,308.95 77.19
202 PARK MAINTENANCE 1,357,218.00 103,319.13 970,913.48 386,304.52 71.54 |1,314,081.73 1,014,308.95 77.19
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 19
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
24Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 80,150.00-56,773.55- 23,376.45- 70.83 |78,700.00-64,131.94- 81.49
5200 MISCELLANEOUS 55.00-55.00 |444.50-
4001 REVENUES 80,150.00-56,828.55-23,321.45-70.90 |78,700.00-64,576.44-82.05
6001 EXPENDITURES
6002 PERSONAL SERVICES 404,679.00 31,112.92 301,832.15 102,846.85 74.59 |394,252.59 308,249.73 78.19
6210 SUPPLIES 22,650.00 1,166.02 13,598.29 9,051.71 60.04 |22,300.00 15,175.62 68.05
6300 NON-CAPITAL EQUIPMENT |200.00
6350 SERVICES & OTHER CHARGES 39,349.00 2,038.70 22,044.90 17,304.10 56.02 |35,532.00 21,749.61 61.21
6001 EXPENDITURES 466,678.00 34,317.64 337,475.34 129,202.66 72.31 |452,084.59 345,374.96 76.40
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 1,817.00-1,817.00 |5,729.42-
8001 OTHER INCOME 1,817.00-1,817.00 |5,729.42-
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES |465.67
8501 OTHER EXPENSE |465.67
4000 REVENUES & EXPENSES 386,528.00 34,317.64 278,829.79 107,698.21 72.14 |373,384.59 275,534.77 73.79
203 WESTWOOD HILLS 386,528.00 34,317.64 278,829.79 107,698.21 72.14 |373,384.59 275,534.77 73.79
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 20
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
25Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 29,500.00- 29,500.00 |
4600 CHARGES FOR SERVICES 81,750.00- 37,162.58- 112,438.44- 30,688.44 137.54 |69,450.00-189,220.46- 272.46
4001 REVENUES 81,750.00-37,162.58-141,938.44-60,188.44 173.63 |69,450.00-189,220.46-272.46
6001 EXPENDITURES
6002 PERSONAL SERVICES 99,297.00 8,096.86 80,920.29 18,376.71 81.49 |96,662.52 82,856.59 85.72
6210 SUPPLIES 17,900.00 3,325.35 14,818.49 3,081.51 82.78 |13,600.00 9,784.84 71.95
6300 NON-CAPITAL EQUIPMENT 500.00 500.00 |500.00
6350 SERVICES & OTHER CHARGES 171,285.00 67,405.30 255,588.28 84,303.28- 149.22 |165,835.00 252,998.15 152.56
6001 EXPENDITURES 288,982.00 78,827.51 351,327.06 62,345.06-121.57 |276,597.52 345,639.58 124.96
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 2,000.00 2,000.00 |2,000.00 1,219.38 60.97
8001 OTHER INCOME 2,000.00 2,000.00 |2,000.00 1,219.38 60.97
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 209,232.00 41,664.93 209,388.62 156.62-100.07 |209,147.52 157,638.50 75.37
204 ENVIRONMENT 209,232.00 41,664.93 209,388.62 156.62-100.07 |209,147.52 157,638.50 75.37
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 21
10/16/2008CITY OF ST LOUIS PARK 8:49:48R5509FIN1 LOGIS005
26Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 11,700.00-1,198.30- 7,282.51-4,417.49- 62.24 |11,700.00-
4600 CHARGES FOR SERVICES |35,000.00-17,871.73- 51.06
5200 MISCELLANEOUS 100,661.00-100,661.00-|100,661.00-
4001 REVENUES 112,361.00-1,198.30-7,282.51-105,078.49-6.48 |147,361.00-17,871.73-12.13
6001 EXPENDITURES
6002 PERSONAL SERVICES 461,301.00 38,362.12 349,021.10 112,279.90 75.66 |440,063.73 322,816.00 73.36
6210 SUPPLIES 432,050.00 38,578.03 457,836.94 25,786.94- 105.97 |414,100.00 357,220.25 86.26
6300 NON-CAPITAL EQUIPMENT |225.22
6350 SERVICES & OTHER CHARGES 130,939.00 4,273.27 111,200.67 19,738.33 84.93 |140,210.00 99,793.44 71.17
6001 EXPENDITURES 1,024,290.00 81,213.42 918,058.71 106,231.29 89.63 |994,373.73 780,054.91 78.45
8001 OTHER INCOME
8010 TRANSFERS IN 75,000.00-75,000.00-|100,000.00-
8001 OTHER INCOME 75,000.00-75,000.00-|100,000.00-
8501 OTHER EXPENSE
8510 TRANSFERS OUT 8,981.00 8,981.00 |8,745.73 6,559.47 75.00
8550 INTEREST/FINANCE CHARGES 15.96 78.57 78.57-|
8590 BANK CHARGES/CREDIT CD FEES 31.82 31.82-|
8501 OTHER EXPENSE 8,981.00 15.96 110.39 8,870.61 1.23 |8,745.73 6,559.47 75.00
4000 REVENUES & EXPENSES 845,910.00 80,031.08 910,886.59 64,976.59-107.68 |755,758.46 768,742.65 101.72
205 VEHICLE MAINTENANCE 845,910.00 80,031.08 910,886.59 64,976.59-107.68 |755,758.46 768,742.65 101.72
02000 PARK AND RECREATION 1.00 462,887.01 1,426,472.49 1,426,471.49-*********|.14-1,149,597.42 **********
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 22
10/22/2008CITY OF ST LOUIS PARK 8:51:53R5509FIN1 LOGIS001
1Monthly Financial Report Page -By Co (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 14,107,179.00-7,134,840.22- 6,972,338.78- 50.58 |13,170,348.00-6,299,461.30- 47.83
4100 LICENSES & PERMITS 2,712,715.00- 346,115.78- 3,200,616.27- 487,901.27 117.99 |2,636,500.00-2,138,112.56- 81.10
4270 FINES & FORFEITS 311,000.00-25.00 191,281.71- 119,718.29- 61.51 |309,600.00-186,306.24- 60.18
4300 INTERGOVERNMENTAL 1,709,365.00- 40,142.38- 840,798.51- 868,566.49- 49.19 |1,628,804.15-883,956.20- 54.27
4600 CHARGES FOR SERVICES 1,084,975.00- 78,232.37- 467,922.71- 617,052.29- 43.13 |1,045,828.63-725,052.87- 69.33
5100 SPECIAL ASSESSMENTS |1,195.07-
5200 MISCELLANEOUS 100,000.00-8,333.33- 61,825.08- 38,174.92- 61.83 |111,400.00-76,862.85- 69.00
4001 REVENUES 20,025,234.00-472,798.86-11,897,284.50-8,127,949.50-59.41 |18,902,480.78-10,310,947.09-54.55
6001 EXPENDITURES
6002 PERSONAL SERVICES 17,638,555.00 1,495,312.31 13,043,988.59 4,594,566.41 73.95 |16,858,062.07 12,290,818.76 72.91
6210 SUPPLIES 758,098.00 54,080.24 572,350.01 185,747.99 75.50 |686,448.00 434,120.75 63.24
6300 NON-CAPITAL EQUIPMENT 71,350.00 5,835.58 20,464.00 50,886.00 28.68 |63,950.00 44,504.23 69.59
6350 SERVICES & OTHER CHARGES 4,258,872.00 303,597.95 2,549,471.58 1,709,400.42 59.86 |4,077,004.00 2,807,721.15 68.87
7800 CAPITAL OUTLAY 248.23 248.23-|
6001 EXPENDITURES 22,726,875.00 1,858,826.08 16,186,522.41 6,540,352.59 71.22 |21,685,464.07 15,577,164.89 71.83
8001 OTHER INCOME
8010 TRANSFERS IN 2,555,694.00- 212,974.51- 1,916,770.59- 638,923.41- 75.00 |2,654,836.00-1,991,127.06- 75.00
8065 SALE OF SALVAGE |10,063.00-
8070 OTHER RECOVERIES 2,000.00-281.66-445.00-1,555.00- 22.25 |2,000.00-3,251.30- 162.57
8100 INTEREST 325,000.00-86,604.42 411,604.42- 26.65- |301,099.00-60,971.18 20.25-
8130 CONTRIBUTIONS/DONATIONS 100.00-100.00 |5,000.00-
8170 ADMINISTRATION FEES 125.00- 5,750.00-5,750.00 |6,000.00-7,425.00- 123.75
8200 MISC REVENUE 375.09-912.40-912.40 |328.55-
8001 OTHER INCOME 2,882,694.00-213,756.26-1,837,373.57-1,045,320.43-63.74 |2,963,935.00-1,956,223.73-66.00
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 8.25 8.25-|11.10
8580 MISC EXPENSE 180,650.00 61,253.96 119,396.04 33.91 |180,650.00 7,092.70 3.93
8590 BANK CHARGES/CREDIT CD FEES 400.00 40.39 224.37 175.63 56.09 |300.00 13,372.00 4,457.33
8501 OTHER EXPENSE 181,050.00 40.39 61,486.58 119,563.42 33.96 |180,950.00 20,475.80 11.32
4000 REVENUES & EXPENSES 3.00-1,172,311.35 2,513,350.92 2,513,353.92-**********|1.71-3,330,469.87 **********
01000 GENERAL FUND 3.00-1,172,311.35 2,513,350.92 2,513,353.92-**********|1.71-3,330,469.87 **********
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 23
10/22/2008CITY OF ST LOUIS PARK 8:51:53R5509FIN1 LOGIS001
2Monthly Financial Report Page -By Co (pb), Object
2008
20089/30/2008 <==========================================>20072008
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 3,750,197.00-1,875,098.50- 1,875,098.50- 50.00 |3,540,854.00-1,770,427.92- 50.00
4100 LICENSES & PERMITS 250.00- 5,950.00-5,950.00 |5,950.00-
4300 INTERGOVERNMENTAL 56,402.00-1,198.30- 59,133.51-2,731.51 104.84 |56,402.00-22,351.00- 39.63
4600 CHARGES FOR SERVICES 1,058,170.00- 51,916.81- 880,449.70- 177,720.30- 83.20 |1,077,220.00-1,064,674.57- 98.84
5100 SPECIAL ASSESSMENTS |27,569.35-
5200 MISCELLANEOUS 823,061.00- 39,774.25- 502,905.11- 320,155.89- 61.10 |809,061.00-501,442.03- 61.98
4001 REVENUES 5,687,830.00-93,139.36-3,323,536.82-2,364,293.18-58.43 |5,483,537.00-3,392,414.87-61.87
6001 EXPENDITURES
6002 PERSONAL SERVICES 3,403,854.00 253,144.40 2,645,691.27 758,162.73 77.73 |3,286,328.13 2,563,467.34 78.00
6210 SUPPLIES 795,292.00 73,340.17 752,091.40 43,200.60 94.57 |768,832.00 626,380.84 81.47
6300 NON-CAPITAL EQUIPMENT 4,500.00 1,982.01 2,517.99 44.04 |4,500.00 8,454.31 187.87
6350 SERVICES & OTHER CHARGES 1,543,904.00 194,269.91 1,474,184.68 69,719.32 95.48 |1,520,731.00 1,331,734.86 87.57
7800 CAPITAL OUTLAY 19,000.00 19,000.00 |19,000.00
6001 EXPENDITURES 5,766,550.00 520,754.48 4,873,949.36 892,600.64 84.52 |5,599,391.13 4,530,037.35 80.90
8001 OTHER INCOME
8010 TRANSFERS IN 75,000.00-75,000.00-|100,000.00-
8100 INTEREST 1,600.00-1,600.00-|8,000.00-
8130 CONTRIBUTIONS/DONATIONS 11,100.00-200.00- 5,017.00-6,083.00- 45.20 |16,600.00-7,915.04- 47.68
8200 MISC REVENUE 4,032.00- 29,377.89- 29,377.89 |
8001 OTHER INCOME 87,700.00-4,232.00-34,394.89-53,305.11-39.22 |124,600.00-7,915.04-6.35
8501 OTHER EXPENSE
8510 TRANSFERS OUT 8,981.00 748.42 6,735.78 2,245.22 75.00 |8,745.73 6,559.47 75.00
8550 INTEREST/FINANCE CHARGES 15.96 80.85 80.85-|65.42
8580 MISC EXPENSE |1,316.50
8590 BANK CHARGES/CREDIT CD FEES 125.81 125.81-|11,948.59
8501 OTHER EXPENSE 8,981.00 764.38 6,942.44 2,038.56 77.30 |8,745.73 19,889.98 227.43
4000 REVENUES & EXPENSES 1.00 424,147.50 1,522,960.09 1,522,959.09-*********|.14-1,149,597.42 **********
02000 PARK AND RECREATION 1.00 424,147.50 1,522,960.09 1,522,959.09-*********|.14-1,149,597.42 **********
Meeting of October 27, 2008 (Item No. 7)
Subject: September 2008 Monthly Financial Report Page 24
Meeting Date: October 27, 2008
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:
Quarterly Investment Report (July-September, 2008).
RECOMMENDED ACTION:
No action required at this time. This is a written report for information sharing purposes.
POLICY CONSIDERATION:
None.
BACKGROUND:
Our portfolio remains focused on short term cash flow needs, but some longer term securities have
been locked in to maximize interest income potential in the recent unstable market conditions.
As of September 30, the balance in the city’s money market funds is reasonable and necessary to
cover the normal cash flow needs for payroll and general expenses, in addition to several large
payments expected for current projects and land acquisitions.
A benchmark rate of return has not been established by our investment policy. Cities generally use a
short horizon benchmark such as the two year Treasury (2.00% at 9/30 down from 2.63% at 6/30)
or some similar measure. Our current portfolio yield is roughly 3.9%. This is calculated by taking
the yield times the current value for each investment and dividing the resulting amount by the total
portfolio value. Our primary money market investment is the 4M Fund. It currently yields an
average of 1.5% with daily withdrawal privileges. We need to be careful since our budget assumes a
4% return. While most of our actual investment purchases have been at rates greater than 4%, the
money market does drag down overall portfolio yield. With the drop in interest rates, it will be a
close call as to us making that 4% rate of return.
Most of our recent purchases are callable agency bonds. They typically have reasonable interest rates
for the final maturity date, but are callable in six months to a year. This effectively reduces the
average life of our investments, since we expect most of these securities to be called. We need to be
careful though – if inflation and interest rates jump up dramatically, we will be stuck holding these
bonds at low interest rates.
9/30/08 6/30/08
<1 Year 28% 39%
1-2 Years 4% 4%
2-3 Years 7% 8%
>3 Years 61% 49%
Meeting of October 27, 2008 (Item No. 8) Page 2
Subject: Quarterly Investment Report
Investment totals by type are:
FINANCIAL OR BUDGET CONSIDERATION:
None at this time.
VISION CONSIDERATION:
Not Applicable.
Attachments: Quarterly Investment Report
Prepared by: Bruce DeJong, Finance Director
Approved by: Tom Harmening, City Manager
Commercial Paper None
Agency Bonds/CD’s $47,082,399
Money Market $13,697,344
City of St. Louis Park
Investments
September 30, 2008
Institution Allocation Main Type Maturity Yield Basis
Market Value
9/30/08
Unrealized Gain
or (Loss)
4M City MM 2.17%6,949,642
Citigroup/Smith Barney City FHLB 12/17/2012 4.50% 1,000,000 1,003,440 3,440
Citigroup/Smith Barney Police/Fire FHLB 11/21/2011 5.10% 993,130 1,011,250 18,120
Citigroup/Smith Barney Police/Fire FHLB 05/20/2013 4.00% 1,000,000 994,460 (5,540)
Citigroup/Smith Barney Police/Fire FNMA 12/15/2008 3.38% 741,576 764,763 23,187
Citigroup/Smith Barney Police/Fire FFCB 08/25/2009 4.75% 745,313 760,545 15,233
Citigroup/Smith Barney City FHLB 01/04/2012 5.00% 1,000,000 1,018,750 18,750
Citigroup/Smith Barney City FHLB 10/26/2011 5.25% 1,000,310 1,018,750 18,440
Citigroup/Smith Barney EDA FHLMC 11/24/2010 5.13% 996,220 1,003,420 7,200
Citigroup/Smith Barney EDA FHLB 12/22/2010 5.05% 994,380 1,004,690 10,310
Citigroup/Smith Barney EDA FHLB 10/27/2011 5.38% 999,060 1,001,560 2,500
Citigroup/Smith Barney EDA FHLBC 5/14/2013 4.15% 1,000,000 982,500 (17,500)
Citigroup/Smith Barney EDA FHLMC 6/10/2013 4.40% 1,000,000 999,900 (100)
Citigroup/Smith Barney EDA FHLBC 6/11/2013 4.38% 998,750 998,130 (620)
Citigroup/Smith Barney EDA FHLMC 7/2/2013 5.00% 1,000,000 1,012,640 12,640
Citigroup/Smith Barney EDA FHLBC 7/30/2013 4.00% 1,000,000 976,250 (23,750)
Citigroup/Smith Barney EDA FFCBC 2/13/2013 3.90% 1,000,000 989,060 (10,940)
Citigroup/Smith Barney EDA FHLMC 8/19/2013 4.10% 1,000,000 991,240 (8,760)
Citigroup/Smith Barney EDA FHLMC 12/19/2011 3.50% 1,000,000 994,880 (5,120)
Citigroup/Smith Barney EDA FHLBC 06/18/2012 4.15% 672,819 666,037 (6,782)
Citigroup/Smith Barney City GNMA 6.72%62,291
Citigroup/Smith Barney Police/Fire Cash 2.32%92
18,254,649 50,708
Prudential/Wachovia City Fannie Mae 6/3/2013 4.13% 1,624,028 1,624,491 464
Prudential/Wachovia Police/Fire CD 1/7/2009 4.55% 95,000 95,000 -
Prudential/Wachovia Police/Fire CD 1/9/2009 4.45% 95,000 95,000 -
Prudential/Wachovia Police/Fire CD 1/9/2009 4.55% 95,000 95,124 124
Prudential/Wachovia Police/Fire CD 1/12/2009 4.60% 95,000 95,176 176
Prudential/Wachovia Police/Fire CD 1/16/2009 4.50% 95,000 95,154 154
Prudential/Wachovia City FNMA 7/8/2013 4.50% 1,000,000 1,001,250 1,250
Prudential/Wachovia City FHLB 8/28/2013 4.00% 1,000,000 1,001,250 1,250
Prudential/Wachovia City FHLMC 6/10/2013 4.00% 1,000,000 1,002,176 2,176
Prudential/Wachovia City CD 7/19/2010 4.25% 96,000 96,037 37
Prudential/Wachovia City CD 7/16/2010 4.20% 96,000 95,975 (25)
Prudential/Wachovia City CD 7/16/2010 4.20% 96,000 95,975 (25)
Prudential/Wachovia City CD 7/16/2010 4.20% 96,000 95,975 (25)
Prudential/Wachovia City CD 7/19/2010 4.25% 96,000 96,037 37
5,584,621 5,593
UBS/Paine Webber EDA FHLB 2/13/2012 5.40% 1,000,000.00 1,008,440 8,440
UBS/Paine Webber EDA Cashfund 2.05%4,814,029
Paine Webber MM Police/Fire Cash 2.02%120,719
Paine Webber MM City Cashfund 2.05%788,836
6,732,025 8,440
Sterne, Agee & Leach Inc City FHLB 02/12/2010 5.00% 1,067,800 1,054,090 (13,710)
Sterne, Agee & Leach Inc City FHLMC 02/27/2009 5.05% 997,090 1,007,110 10,020
Sterne, Agee & Leach Inc City FHLB 8/27/2012 5.05% 1,000,000 1,029,350 29,350
Sterne, Agee & Leach Inc City FNMA 6/22/2011 5.50% 1,943,503 1,950,451 6,948
Sterne, Agee & Leach Inc City FHLB 10/29/2012 4.03% 1,030,220 1,028,730 (1,490)
Sterne, Agee & Leach Inc City FHLB 7/23/2012 4.15% 1,055,968 1,038,570 (17,398)
Sterne, Agee & Leach Inc City FNMA 03/18/2013 3.96% 1,000,000 977,590 (22,410)
Sterne, Agee & Leach Inc City FNMA 2/26/2013 3.05% 1,022,043 995,880 (26,163)
Meeting of October 27, 2008 (Item No. 8)
Subject: Quarterly Investment Report (July-September, 2008)Page 3
City of St. Louis Park
Investments
September 30, 2008
Institution Allocation Main Type Maturity Yield Basis
Market Value
9/30/08
Unrealized Gain
or (Loss)
Sterne, Agee & Leach Inc City FHLB 08/27/2012 2.81% 1,063,803 1,033,920 (29,883)
Sterne, Agee & Leach Inc City FNMA 01/04/2013 2.77% 1,041,216 1,001,210 (40,006)
Sterne, Agee & Leach Inc City FNMA 5/28/2013 4.05% 999,000 999,360 360
Sterne, Agee & Leach Inc EDA FNMA 1/18/2013 3.85% 1,004,210.00 998,170 (6,040)
Sterne, Agee & Leach Inc City FHLMC 5/6/2013 4.00% 999,663.33 998,050 (1,613)
Sterne, Agee & Leach Inc City FHLB 2/25/2013 3.65% 523,009.67 513,004 (10,006)
Sterne, Agee & Leach Inc City FNMA 4/29/2013 3.60% 815,084.00 792,043 (23,041)
Sterne, Agee & Leach Inc EDA FHLMC 2/5/2013 4.14% 999,682.22 998,140 (1,542)
Sterne, Agee Cash Trust City MM 1.35%1,024,025
17,439,693 (146,623)
Wells Fargo City Fr Mac Note 02/02/2012 5.40% 1,500,000 1,511,115 11,115
Wells Fargo City FHL 12/19/2011 4.65% 1,000,000 1,003,440 3,440
Wells Fargo City FHLMC 03/01/2009 3.50% 549,703 525,527 (24,176)
Wells Fargo City Fr Mac Note 01/09/2012 5.30% 1,000,000 1,005,350 5,350
Wells Fargo EDA FHLMC 11/03/2009 5.11% 748,800.00 751,493 2,693
Wells Fargo EDA FHLB 07/20/2012 5.70% 1,000,000.00 1,022,190 22,190
5,819,114 20,611
GRAND TOTAL 60,779,743 (61,271)
Meeting of October 27, 2008 (Item No. 8)
Subject: Quarterly Investment Report (July-September, 2008)Page 4
Meeting Date: October 27, 2008
Agenda Item #: 9
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:
Foreclosed Properties Update.
RECOMMENDED ACTION:
No action is needed at this time.
POLICY CONSIDERATION:
Does the Council approve of the work and direction staff is taking with foreclosed properties?
BACKGROUND:
City Manager Tom Harmening created the Property Foreclosure Workgroup in April 2008 to
proactively identify and monitor foreclosed properties in SLP. Representatives from Information
Resources, Fire, Inspections, Public Works, Community Development, Finance, Administrative
Services, Police and Park & Recreation meet monthly to review property lists, share information and
discuss concerns.
St. Louis Park is faring better than many other communities in terms of the foreclosure crisis.
Through the end of August, St. Louis Park had 100 foreclosed properties spread throughout the
community. This is different than in some other communities, such as Minneapolis, where the
foreclosures are concentrated in neighborhoods. Staff is glad to report that in most cases, the lender
and/or the property owner are maintaining these foreclosed properties.
However, St. Louis Park does have foreclosed homes that are not well maintained and staff is
working proactively to address these problems. In July, Inspections staff conducted their first broad
sweep visual inspections of residential foreclosed properties and identified 18% that had property
maintenance violations, ranging from weeds to missing shingles and storm damage. Other examples
of problems associated with foreclosed properties that happen less frequently but still occur include
vandalism, water damage in homes from frozen pipes, delinquent utility bills, landlord/tenant issues
and fraud.
ACTIVITIES/ACCOMPLISHMENTS:
Foreclosure Prevention:
One of the greatest challenges for the city and Hennepin County is identifying property owners who
are in danger of defaulting on their mortgages and encouraging them to get help before their homes
go into the foreclosure process. Less than 1% of property owners whose homes go through a Sheriff
Sale are able to get their homes back during the six month redemption period.
Meeting of October 27, 2008 (Item No. 9) Page 2
Subject: Foreclosed Properties Update
To help with this, Community Development and Information Resources are working hard to get
foreclosure prevention assistance information to people who need it the most. Staff is posting
information in city hall, on the city’s website and is mailing foreclosure prevention postcards directly
to homeowners. The November Park Perspective has an article outlining what the city is doing and
where residents can seek help if they need it. Park TV finished filming a segment that is airing on
Channel 17 for the next month that provides homeowners and renters with information about
foreclosures and prevention assistance.
Mortgage Fraud:
HUD Agent Kubesh provided an update to the police department and the Workgroup in August
about mortgage fraud. In addition, when the city suspects fraud, the Finance Department refers
these cases to the Department of Treasury and the FBI.
Property Maintenance:
Inspections and Park & Recreation continue to monitoring the condition of properties that are
foreclosed. Each month, staff receives an update from Hennepin County listing existing and newly
foreclosed homes. When the city learns that a property has been sold at auction (Sheriff’s Sale),
Inspections drives past the property to conduct a visual inspection. Properties that have weeds, long
grass, peeling paint, etc., are sent property correction notices and this information is shared with the
work group. Resolving code violations at these properties can be time consuming because the city
notifies the mortgagee, the lender and the lender’s attorney and contact information is not always
easy to locate.
Utilities:
Thanks to recent legislation, St. Louis Park receives reports from Xcel Energy and CenterPoint
Energy that identify properties without electric and natural gas service, CenterPoint Energy will
cancel service if the owner is not working with CenterPoint on a payment plan and/or does not
contact them about delinquent billing. From October 15 through April, the city receives daily
reports from CenterPoint Energy with addresses of home without natural gas service.
Homes without heat need water shut-off to prevent catastrophic water damage to the property.
Minnesota cities such as Coon Rapids and Woodbury are shutting off water to homes without heat
that are not occupied and have not been winterized.
Administrative Services and Utilities are working with the city attorney to develop a notification
process before shutting off water service at the curb at homes that are vacant and have not been
winterized. This is currently allowed by city code and the process will provide for water shut-off at
the curb within 24-48 hours of notification. Included in the notification will be telephone calls,
visits to the property and a door hanger/letter. It is staff’s goal to protect these homes from damage
and preserve our housing stock.
Meeting of October 27, 2008 (Item No. 9) Page 3
Subject: Foreclosed Properties Update
NEXT STEPS:
Information Resources and Police are working to find ways staff can use technology to improve
internal communications among departments regarding foreclosed and other problem properties.
A software application called “Request Partners” and an application similar to Graffiti Net are
being evaluated to see how they can help with the work of the group.
Inspections will be mailing letters to the lender, their attorney and the property owner when a
home is foreclosed upon and is sold at the Sheriff’s auction. This letter will include information
about property maintenance, the city’s Point of Sale program, water shut-off and winterizations
of homes, obtaining a certificate of property maintenance and other important information.
Administrative Services will continue to facilitate the work of the property foreclosure
workgroup and, at the direction of the City Manager, hopes to expand these efforts to include
other problem properties, including vacant homes.
FINANCIAL OR BUDGET CONSIDERATION:
None at this time.
VISION CONSIDERATION:
The activities of the Property Foreclosure Workgroup are aligned with the City Council’s Vision
Strategic Direction, “St. Louis Park is committed to providing a well-maintained and diverse
housing stock.”
Attachments: Distribution of Foreclosures in St. Louis Park, Jan. – Aug., 2008
Hennepin County Foreclosures through 3rd Quarter, 2008
Prepared by: Marcia Honold, Management Assistant
Approved by: Tom Harmening, City Manager
Meeting of October 27, 2008 (Item No. 9)
Subject: Foreclosed Properties Update Page 4
T T 7
T T
T T
T T
T T 2
T T 4
T T
S
Y
Y
B
V
S
B Y
SS S
S
S S
V Y
S
S
Y
S
B Y
V
V
BB S
B Y
S
S Y
SS
S
S
B
S B S
S
S
Distribution of ForeclosuresThrough Third Quarter, 2008Hennepin County
0 2 4 6 8 0Mi es
S0 S S 9 S 9 % %
Commi si ne Di t ic B unda y
e s es
AN - SE 008
0 - 4
5 - 230
342
753
2 537
(o e l su e ( ota Reco ds 5 79 )
Commi sio e Dist ct otal
575
2 389
3 4 6
4 784
5 494
6 394
7 7 3
S S 00
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Meeting of October 27, 2008 (Item No. 9)
Subject: Foreclosed Properties Update Page 5