HomeMy WebLinkAbout2006/10/23 - ADMIN - Agenda Packets - City Council - Study SessionCity Council Study Session
October 23, 2006
6:30 – 10:00 PM
Council Chambers
Box Lunch 6:00
Discussion Items
Approximate
Times
1. 6:30 p.m. Council Organizational Development Session
Written Items
2. Quarterly Investment Report
3 Status Report on Council Initiated Projects
4. Blue Cross Blue Shield Active Community Contract
5. September 2006 Interim Financial Statements
10:00 p.m. Adjourn
Auxiliary aids for individuals with disabilities are available upon request. To make
arrangements, please call the Administrative Services Department at (952) 924-2525 (TDD
(952) 924-2518) at least 96 hours in advance of meeting.
Council Purpose
• To govern and lead the community
• To improve the community
• Keepers of the decision-making process
• To protect the integrity/rationality of the decision-making/governing process
• Represent the community
• Barometer
• Steward of the city’s assets
Strengths
• Believe in process
• Inclusive
• Transparent
• Rational
• “Camaraderie” P.K. “hanging on”
• We’re all here to do the right thing
• Willing to engage the process/people
• Willing to listen to each other
• Willing to be persuaded
• Learn from our mistakes
• Respect for each other
• Absence of factions
• We like each other
• We’re thoughtful
• We’re smart
• Sense of humor
• Creative, we encourage creativity
• Willing to take risks
Barriers
• Letting Go
• Hanging On
• Try too hard – need to be perfect
• Unwillingness to deal with conflict
• Avoid (underground)
• Keeps Coming Up (stays alive)
• Use humor to avoid
• Insensitivity to impact of male dominated group
• Too slavish to process; unwilling to do mid-course corrections
• Discomfort confronting/questioning staff
• Blame the process if we don’t like the result
• Hard time delivering bad news
• Rude to staff and each other
• Talk too much
• Unwilling to be accountable
• Scatom - Not self-aware
• Work too hard
• Too much on agendas
• Need for boundaries in roles
• Who to involve/inform
• Less time spent connection with each other P.L.
• Making assumptions about each other’s intentions, thoughts, beliefs, desires
• Understanding the role of Councilmember in each other’s life priority; missing what we can expect
from each other regarding time commitment P.L./P.C.
• Regular absence of a Councilmember
• Emotional reactions
• Need for “I’m sorry”, “I was wrong”
How to Work Best Together
• Talk directly to each other
• Take each issue on its own merit
• Honest, direct
• Forgiving
• Sense of humor
• Laugh at our humanity
• Reaffirm commitment to CGM
• Pay attention up front to define the process/players/decision-makers/timeframe when addressing a
problem/issue/opportunities
• Check in, check out each other’s thinking/feelings
• Recognize/Accept a vote, move on
• Everyone gets a say
• Encourage residents to speak ciuilly with Councilmembers
• Listen
• Agree to disagree
• When each is feeling pressured, compromised share those feelings with Council
• Give as much advanced notice as possible about concerns, issues, constituent pressures
(manipulative, dishonest, threatening, attacking)
• Give each other “heads up”
What Not to Do
• Attack each other/staff
• No surporises
• Agitate others
• Incite riots
• Make Assumptions
Phil
Crazy, think differently from others, thoughtful, open minded, peace maker, gets along with most
people, smart, not pretentious, sense of equality, passionate, great heart, sense of humor, flexible, open,
willing to listen, not afraid to be open, willing to listen, not afraid to be silly, not afraid to ask a
“stupid” question, Jewish translation, brings out the honesty of an issue, values other’s input, doesn’t
take self too seriously, good balance of role/life.
Sue
Communicate clearly/frankly, analytical, strong web of connections, takes risks, global/urban
orientation, not afraid of conflict, historical knowledge/memory regarding city, care a lot about
community, strong vision for future, thick-skinned, eye for public policy, responsive to constituents,
smart, thoughtful, passion for issues impacting our community, willing to talk about the
uncomfortable, follows through on commitments, dedicated, detail-oriented, hard-working (puts time
in), female perspective, strong appreciation for the arts, recreation, strong advocate, responsive, makes
a decision….goes all the way.
Tom
Loyalty, wants to do the right thing, hard-work/dedication, high expectations/raises the organization
bar, find win-win, can be counted on….do his best/meet expectations, trustworthy, great judgment,
respected leader, shows respect, earns admiration/respect, engenders confidence, reliable, responsive,
strong personal values, lives his values, follows through, “Rock” (unflappable), really cares about the
city, conscientious, doesn’t get dragged into disputes.
Jeff
Intuitively get along with a wide variety of people, institutional memory, honor the process, don’t take
for other’s work/gives credit to others, ability to think into the future based on what’s gone on in the
past, take accountability, wants to know the “why” behind thoughts/actions, like children, very
smart/quick, great ambassador for the city, hard-working (110%), high energy, ability to talk to people
easily, runs effective meetings (tone, inclusiveness, humor, grace), grounded, good point man
(goofiness + ability).
Paul O
Sense of humor, sense of vision, intelligent, analytical ability, neighborhood background, public
perception, thoughtful, do-my-homework, listener, responsive to constituents, humble, cares about the
community, cares about kids, walks the walk, strong network, skilled communicator (quick, graceful)
helps us understand our impact, righteous zeal, believer in the process.
Loran
Analytical abilities, technical flavor for things (Eng), blue collarness, creativity, open-mindedness,
frank, open, respectful, listen to crazy ideas, brings a more conservative viewpoint, doesn’t make
decisions on an emotional basis, prepared, taken an interest in the job, thoughtful about the position,
sense of humor.
John
Organized, willing to accept responsibility, willing to find a balance/be flexible, listen, taking role
seriously, recognition of staff/council (boundaries), willing to verbalize, be open about my thoughts, I
care, commitment to the role, will be positive (in most cases), kind (in a manly way), honest, tied into
the neighborhoods, accountability/admits mistakes, clear sense of values, intuitive, sense about people.
Paul C
Analytical, thorough, great brain power, E.F. Hutton (doesn’t say a lot but when he does), thoughtful,
respectful, communications, does his homework, not looking for the political angle, does what he
thinks is right, smartest person on the Council, eloquent.
City Council O.D. Session
October 23, 2006
6:00 p.m. Dinner
Council Chambers
6:30 p.m. — 10:00 p.m. O.D.
Outcomes:
Identify strategies for building a high performing city council
Describe how to best work with each other and what is need for
maximum effectiveness
Establish norms and expectations for working effectively together
1. Introductions
2. Purpose
3. Expectations
4. Strengths and Barriers
5. Trust
6. Increased Effectiveness
7. Feedback and Commitment
8. Adjournment
Notes:
• Jean Morrison’s biography is included in this attachment.
• If you mislaid your “homework”, it is on page 6 and page 20 of the
power point attachment.
JEAN MORRISON
Jean Morrison is President of Morrison & Associates, Inc. a human resource
management consulting firm serving the human resource management needs
of businesses and organizations for nineteen years. Jean specializes in
performance management, conflict resolution, team building,
employer/employee relations, executive/individual coaching, people
management, and organizational change. In addition, Jean is a founding
partner of RESOLVE, a consulting firm providing conflict management and
professional training and development services.
Prior to founding Morrison & Associates, Inc., Jean held key management
and officer positions with Pillsbury, Green Giant, Michigan National Bank,
St. Joseph Bank & Trust, and Norwest Bank. Jean has been an instructor at
the University of Minnesota, Carlson School of Management, for several
years in the areas of performance management, communications, conflict
management, and human resource management. She provides presentations,
workshops, and keynote talks to hundreds of people each year. She has
received numerous awards and recognition for her presentation ability and
community services such as Woman of the Year, Minnesota Small Business
Advocate, Volunteer of the Year, and Speaker of the Year. She serves on
several area Boards and donates significant time to assisting minority
businesses in the area of human resources. Jean is a volunteer mediator for
The Minneapolis Mediation Program, and a mentor at the Metropolitan
Economic Development Association and at the North Star Elementary
School.
Jean’s successful approach to addressing human resource issues has been
featured in numerous articles.
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 1
2. Quarterly Investment Report Finance
PURPOSE OF REPORT:
The purpose of this report is to update the City Council on the status of the various investment
accounts that the city maintains. This is also an opportunity to review investment practices.
BACKGROUND:
The City Council adopted an investment policy on June 5, 2000. That policy lays out the
authorized investments for the city and the Economic Development Authority (EDA). The
policy generally follows the Government Finance Officers Association (GFOA) model
investment policy.
The investment aims for St. Louis Park are quite conservative. We have three investment focus
areas in order of importance. They are safety of principal, liquidity, and yield. This means we
are primarily focused on not losing money through investments, having sufficient funds on hand
to pay bills when they come due, and finally getting a market rate of return.
State statutes limit our ability to invest in many risky types of investments. We are not legally
able to invest in stocks or corporate debt. We are generally limited to federal and state
government obligations or agencies backed by them. The city can also invest in bank
Certificates of Deposit or money market accounts (with collateralization if in excess of FDIC
insurance amounts), and the bonds of Minnesota cities.
Safety of principal is really taken care of through an investment strategy. We intend to hold
investments until maturity. That means we will get the rate of return for which we invested.
Market value fluctuations will be reported, but we don’t really worry if we are temporarily
higher or lower in our portfolio since we are not actively trading securities. We also do not
extend our investments beyond five years unless we are matching cash flow with a specific debt
service maturity.
We make sure we are sufficiently liquid by forecasting our major cash needs throughout the year.
Investments are then matched to come due at or near those dates to allow sufficient cash on hand
without having to sell an investment prior to maturity. We take into account the fact that we will
receive two large tax settlements each year, along with the debt service payments that occur each
February and August.
Our portfolio is very focused on short term cash flow needs. We are currently over-weighted in
short maturities. Finance is locking in some longer term securities in order to bridge any
potential downturn from the current rates.
<1 Year 59.54%
1-2 Years 25.12%
2-3 Years 8.83%
>3 Years 6.50%
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 2
Cities generally invest with a pooled cash concept That method combines money from all funds
and uses it to purchase investments of a reasonable size and to schedule maturities in an efficient
manner. We currently have three separate investment accounts – one for general city funds,
another for Police and Fire Pension Fund, and another for the economic development authority
funds. For ease of managing the portfolio and providing comparable investment returns
for all funds, I propose that we use a fully pooled investment account incorporating
balances from all city funds. We are already segregating these funds in our financial system
and can easily allocate interest between them based on cash balance in each fund.
A benchmark rate of return has not been established by our investment policy. Cities generally
use a short horizon benchmark such as the one-year Treasury Bill (currently 5.04%) or some
similar measure. Our current portfolio yield is roughly 4.30%. This is calculated by taking the
yield times the current value for each investment and dividing the resulting amount by the total
portfolio value. As investments purchased from 2003-2005 mature we will be able to replace
them with higher yielding securities. It is typical to lag the market yield as interest rates change.
This leads to more predictability in our interest earnings.
Liquidity has been easy to maintain for last several months because we have a flat yield curve.
This means that there is not much difference between investing for a long period of time or a
short one. Our primary money market investment is the 4M Fund. It currently yields 5.07%
with daily withdrawal privileges. This compares very well with the up to 5.50% yields that are
available when five year investment options are considered and is higher than our overall
portfolio return.
Investment totals by type are:
Investment category percentages are broken down in the following chart.
Investment Types
Money Market
24.7%
Agency
71.6%
CD
0.3%Commercial
Paper
3.4%CD
Commercial Paper
Agency
Money Market
Certificates of Deposit 189,854.65
Commercial Paper 2,116,904.80
Agency Bonds 44,880,010.64
Money Market 15,490,914.62
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 3
Attachments: City and Police & Fire Pension Fund Investments
EDA Investments
Investment Policy
Prepared by: Bruce M. DeJong, Finance Director
Approved by: Tom Harmening, City Manager
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 4
City of St. Louis Park
City Investments
September 30, 2006
Institution Allocation Main Type Maturity Yield Par Value
Market Value
9/30/06
Unrealized
Gain or
(Loss)
4M City MM 9,517,640.55 -
4M Police/Fire MM 602,742.80 -
4M LA Court MM 1,050.94 -
Citigroup City CP 10/10/06 5.55%1,024,000 1,022,504.96 12,636.16
Citigroup Police/Fire FNMA 11/15/06 2.73%1,000,000 996,880.00 14,690.00
Citigroup City FHLB 2/28/07 4.28%1,600,000 1,593,504.00 2,496.00
Citigroup Police/Fire FHLB 4/27/07 3.03%1,000,000 987,500.00 9,370.00
Citigroup City FHLB 5/10/07 3.25%750,000 741,097.50 5,865.00
Citigroup City FHLB 11/23/07 4.41%1,500,000 1,488,285.00 (930.00)
Citigroup City FHLB 3/18/08 3.07%750,000 729,607.50 5,625.00
Citigroup City FHLB 7/22/08 3.10%750,000 725,625.00 4,687.50
Citigroup Police/Fire FNMA 12/15/08 3.38%765,000 739,900.35 2,631.60
Citigroup City FHLB 6/5/09 5.54%1,000,000 1,001,560.00 (3,148.33)
Citigroup City FHLB 12/28/09 5.20%1,000,000 998,820.00 (3,760.00)
Citigroup Police/Fire FNMA 1/26/07 4.12%500,000 497,970.00 1,565.00
Citigroup Police/Fire FHLMC 8/17/07 4.14%750,000 742,500.00 1,170.00
Citigroup Police/Fire FFCB 8/25/09 4.75%750,000 745,785.00 -
13,011,539.31 52,897.93
Wachovia City FHLB 11/21/08 3.00%750,000 739,065.00 1,492.50
Wachovia City FHLB 9/8/11 5.50%1,000,000 997,131.00 (2,869.00)
1,736,196.00 (1,376.50)
UBS City MM 220,053.37 -
UBS City CD Discove 12/19/06 5.05%95,000 94,916.40 (482.60)
UBS City FHLB 1/29/07 2.52%1,000,000 990,940.00 14,380.00
UBS City FHLB 7/24/08 3.30%750,000 727,972.50 3,750.00
UBS Police/Fire MM 15,237.09 -
UBS Police/Fire CD Capital O 12/5/06 5.10%95,000 94938.25 (486.40)
2,144,057.61 17,161.00
Sterne, Agee City FHLB 2/12/10 5.00%1,000,000 1,073,300.00 (6,965.28)
1,073,300.00 (6,965.28)
Wells Fargo City FNMA 1/26/07 3.26%1,500,000 1,490,250.00 13,650.00
Wells Fargo City FHLN 1/29/07 2.36%750,000 742,875.00 11,625.00
Wells Fargo City FHLB 3/9/07 4.25%1,000,000 995,400.00 1,400.00
Wells Fargo Police & Fir FHLB 6/1/07 3.88%1,500,000 929,062.50 3,093.75
Wells Fargo City FHLB 10/19/07 4.13%1,000,000 989,800.00 200.00
Wells Fargo City FHLMC 7/1/08 4.00%1,000,000 350,133.29 (12,932.53)
Wells Fargo City FHLB 7/25/08 4.38%1,500,000 1,481,700.00 (1,050.00)
Wells Fargo Police & Fir FHLB 8/4/08 4.13%750,000 737,925.00 300.00
Wells Fargo City FHLMC 3/1/09 3.50%1,250,000 803,936.94 (22,879.62)
8,521,082.73 (6,593.40)
GRAND TOTAL 36,607,609.94 55,123.75
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 5
City of St. Louis Park
City Investments
September 30, 2006
Institution Allocation Main Type Maturity Yield Par Value
Market Value
9/30/06
Unrealized
Gain or
(Loss)
4M EDA EDA MM 3,561,377.88 -
Citigroup EDA CP 10/10/06 5.55%1,096,000.00 1,094,399.84 13,524.64
Citigroup EDA FHLMC 11/14/06 5.16%3,077,000.00 3,056,512.31 56,245.85
Citigroup EDA FHLB 12/29/06 4.70%500,000.00 499,220.00 155.00
Citigroup EDA FHLB 1/10/07 2.23%500,000.00 495,780.00 8,280.00
Citigroup EDA FHLB 2/14/07 2.82%750,000.00 743,205.00 8,910.00
Citigroup EDA FHLB 8/13/07 3.22%1,485,000.00 1,460,408.40 10,216.80
Citigroup EDA FHLB 11/23/07 4.41%750,000.00 744,142.50 (465.00)
Citigroup EDA FHLB 5/27/08 3.16%500,000.00 485,470.00 3,280.00
Citigroup EDA FHLB 6/24/08 2.75%505,000.00 486,380.65 4,580.35
Citigroup EDA FHLB 9/28/09 5.30%1,000,000.00 1,000,000.00 -
Citigroup EDA FHLB 9/29/10 5.38%1,000,000.00 1,002,500.00 2,500.00
11,068,018.70 107,227.64
UBS EDA MM 4.83%1,572,811.99 -
UBS EDA FNMA 1/26/07 3.26%600,000.00 596,064.00 5,436.00
UBS EDA FHLMC 1/23/08 3.00%625,000.00 608,931.25 5,000.00
UBS EDA FHLB 7/30/08 3.24%1,500,000.00 1,455,000.00 7,500.00
UBS EDA FHLB 8/22/08 5.00%1,065,000.00 1,060,345.95 (2,321.70)
5,293,153.19 15,614.30
Wells Fargo EDA FHLB 10/20/06 4.15%750,000.00 748,800.00 13,650.00
Wells Fargo EDA FHLN 11/20/06 3.09%500,000.00 498,450.00 5,600.00
Wells Fargo EDA FHLB 6/29/07 4.74%750,000.00 747,225.00 (1,275.00)
Wells Fargo EDA FHLB 10/25/07 4.63%700,000.00 696,150.00 (560.00)
Wells Fargo EDA FHLB 6/2/08 5.00%500,000.00 498,100.00 (100.00)
Wells Fargo EDA FHLB 7/25/08 4.37%750,000.00 740,850.00 (525.00)
Wells Fargo EDA FFCB 4.55%8/4/08 4.55%500,000.00 495,000.00 (800.00)
Wells Fargo EDA FHLB 8/25/08 4.00%1,250,000.00 1,226,750.00 1,000.00
Wells Fargo EDA FHLB 9/8/09 5.00%500,000.00 496,200.00 (1,250.00)
6,147,525.00 15,740.00
Total EDA 26,070,074.77 138,581.94
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 6
City of St. Louis Park
Investment Policy
June 5, 2000
Resolution #00-074
POLICY
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;
• Enterprise Funds;
• Trust and Agency Funds
• Any new funds created by the City.
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.
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.
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 7
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 and liquidity needs.
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:
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 8
• 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.
• 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/dealers 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 $500,000 through the Securities Investor
Protection Corporation (SIPC) and at least another $2,000,000 supplemental insurance
protection.
X. INVESTMENT PARAMETERS
The City’s investment 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.
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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 and investment practices shall be reported to the City
Council. Quarterly information shall be reported to the City Council and 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.
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. Exemption
Any investment currently held that does not meet the guidelines of this policy
shall be exempted from the requirements of this policy. At maturity or
liquidation, such monies shall be reinvested only as provided by this policy.
B. Amendments
This policy shall be reviewed on an annual basis. Any changes must be approved
by the City Council resolution.
C. 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.
Approved by:
___________________________________ __________________________
Charles W. Meyer, City Manager Date
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 10
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 debt payments.
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 debt payments.
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 "A",
EXHIBIT A
City Council Study Session
Written Report: 102306 - 2 - Quarterly Investment Report
Page 11
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.
City Council Study Session
Written Report: 102306 - 3 - Status Report On Council Initiated Projects
Page 1
3. Status Report on Council Initiated Projects Administrative Services
PURPOSE OF REPORT:
From time to time Council asks about the feasibility of a new program, process or policy. Many
times this requires additional research by staff. This report provides Council with an update on
three projects:
• Boards and Commissions
• Off-sale Liquor Stores
• Paperless Agenda
STATUS UPDATE:
BOARDS AND COMMISSIONS:
Council recently approved the updated policy for Boards and Commissions. Administrative
Services staff met with the staff liaisons for Boards and Commissions in September and October
to discuss the adopted changes to rules and procedures, and to brainstorm on implementation.
NEXT STEPS:
Liaisons are working closely with Administrative Services on creating an orientation program
and the process of working with various commissions to update their bylaws. We are also
working with liaisons on the annual recognition program for commission members.
OFF-SALE LIQUOR STORES:
Earlier this year the Council expressed concerns about the number, character and/or location of
off sale liquor establishments. On July 12 staff had a detailed conversation with the Council and
received direction on possible changes to the city’s standards for these establishments. At that
time is was agreed staff would meet with the license holders to discuss possible changes to our
standards and receive their feedback The City Attorney prepared a draft ordinance which
incorporates Councils comments and concerns from the July 12, 2006 study session. The draft
ordinance includes the following:
The fine for the first offense will be $2,000 for selling liquor to an underage person.
Subsequent violations would result in suspension of the license for a period of time
Establishments will be prohibited from installing bars on windows
Maximum window sign coverage will be set at 50%
Establishments will be required to ask all buyers to show ID for purchase of alcoholic
beverages;
New establishments are required to maintain a 300 foot minimum distance from schools
and places of worship for establishments that sell alcohol
Establishments that fail a compliance check will be required to attend training.
NEXT STEPS:
Staff will be meeting with the license holders in the near future and will discuss the proposed
changes at that time. After the meeting, staff will return to a study session with their feedback
for further direction.
City Council Study Session
Written Report: 102306 - 3 - Status Report On Council Initiated Projects
Page 2
PAPERLESS AGENDA:
Earlier this year, Council asked staff to look into the possibility of moving to a paperless agenda
process. Our first step was to look at a city that assembles their agenda and sends it out in
electronic format. Our “field trip” to the City of Minnetonka was helpful because we were able
to see the internal work and technical pieces to make this happen. Minnetonka has been using a
paperless system since 2002 and without special software. They are also able to print a “hard
copy” of the documents if needed.
NEXT STEPS:
We are building a work group from various departments to determine the best method to do this
for our city. Before we report back to Council we would like to get a better understanding of
technology, processes and format that would best fit our organization. We will report back to
Council on this project in January/February.
Prepared By: Marcia Honold, Management Assistant
Approved By: Tom Harmening, City Manager
City Council Study Session
Written Report: 102306 - 4 - Blue Cross Blue Shield Active Community Contract
Page 1
4. Blue Cross Blue Shield Active Community Planning
Contract
Community Development
PURPOSE OF REPORT:
This report provides an update to the City Council regarding the Blue Cross Blue Shield of
Minnesota (BCBS) Active Community Planning funding, and provides a preview of the contract
that City Council will be asked to consider on November 6, 2006.
BACKGROUND:
In July, BCBS selected City of St. Louis Park to participate in the Active Community Planning
program through a competitive application process. This program will provide $75,000 to the
City of St. Louis Park to incorporate “active living principles” into our Comprehensive Plan. The
goal is to integrate physical activity into daily routines by creating a pedestrian and bicycle-
friendly transportation system and built environment. The Centers for Disease Control and
Prevention (CDC) recommends 30 minutes of moderately intense physical activity on five or
more days per week.
The City will use the BCBS funding to update portions of the Comprehensive Plan. Participation
in the BCBS Active Community Planning program is just one of many actions that we will take
to complete the update of our Comprehensive plan. State law requires us to complete the update
by 2008.
The BCBS funds will be used to hire a consultant to assist us in the Comprehensive Plan update.
A request for proposals to consultants will be sent out in the next week to ten days. Staff will
bring a contract with the proposed consultant before the City Council for approval in December.
Actual work would begin in January and be completed by the end of 2007.
The timing of the BCBS funded work will fit well with upcoming completion of the City’s
Vision process. The City’s Vision will serve as a key guide both for the update of the
Comprehensive Plan in general and the BCBS work specifically.
The proposed consultant work plan includes:
Updating the 1999 Sidewalk and Trail Master Plan;
Updating the Transit portion of the Transportation Plan;
Exploring urban design goals and policies that support active living;
Analyzing zoning code incentives that promote incorporating pedestrian, bicycle and transit
amenities into development projects;
Public participation and input opportunities; and
Incorporating applicable community Vision elements
The BCBS program and the proposed work plan appear to fit together very well with ideas
coming out of the Vision St. Louis Park process, and could complement current Comprehensive
Plan goals. Staff also hopes the product of this work will better position the City for capital
project grants that may be available in the future.
City Council Study Session
Written Report: 102306 - 4 - Blue Cross Blue Shield Active Community Contract
Page 2
To receive the funding, the City must enter into a contract with BCBS committing the City to use
the $75,000 toward the above work, and to complete that work within one year. The exact
design of the public input process will be determined based upon the selected consultant’s
proposals and direction from the City. In addition to the funding, BCBS contracted with the
Metropolitan Design Center at the University of Minnesota to provide workshops, library
resources and technical assistance to communities participating in the program.
PROCESS:
The BCBS contract will be on City Council’s agenda for approval on November 6, 2006. If
approved, Staff will proceed with the consultant selection process. City Council approval of the
selected consultant would be on the Council’s agenda in December. The planning work would
likely begin in January 2007.
Attachment: Blue Cross Blue Shield Press Release Announcing the Funding
Prepared by: Sean Walther, Senior Planner
Reviewed by: Meg McMonigal, Planning and Zoning Supervisor
Kevin Locke, Community Development Director
Approved by: Tom Harmening, City Manager
City Council Study Session
Written Report: 102306 - 4 - Blue Cross Blue Shield Active Community Contract
Page 3
NEWS RELEASE
Blue Cross Announces Finalists for Active Community Funding
Funding through Prevention Minnesota supports community-led efforts to adopt community
design strategies that help residents incorporate physical activity into daily routines.
EAGAN, Minn. (July 26, 2006) — Blue Cross and Blue Shield of Minnesota (Blue Cross) has
announced the selection of 11 proposals for two programs that will help Minnesota city and county
governments plan their communities to better support physically active lifestyles. The two programs —
Active Community Planning and Active Community Assessment & Engagement — are part of Prevention
Minnesota, Blue Cross’ long-term health initiative to improve the health of all Minnesotans. Prevention
Minnesota tackles preventable heart disease and cancers by addressing their root causes — tobacco use,
physical inactivity, and unhealthy eating.
“Physical inactivity is one of the top causes of preventable death and disability in Minnesota,”
said Marc Manley, M.D., vice president and medical director of population health at Blue Cross. “As
more people recognize the need to build physical activity into their daily lives to improve their overall
health, our environments need to support that choice. For example, safe and attractive pedestrian and
bicycle routes can make it easier for people to choose active transportation for commuting, daily chores
and recreation.” continued Manley. “It’s all about improving the health of Minnesotans, and we’re
pleased that counties and municipalities are eager to plan for active community environments so their
residents have a choice.”
The selected projects emerged from a competitive Request for Proposals (RFP) process. Each
eligible application went through a two-part expert review process, and funding is still contingent on
successful contract negotiation. The following applicants were selected for the Active Community
Planning funding. They will be incorporating active living principles into their comprehensive plans,
which govern issues such as land use, housing, and transportation.
• City of Arden Hills
• City of Bloomington
• City of Eden Prairie
• City of St. Louis Park
• City of St. Paul
• City of St. Paul Park
City Council Study Session
Written Report: 102306 - 4 - Blue Cross Blue Shield Active Community Contract
Page 4
• City of Two Harbors
• Ramsey County
The following applicants were selected for Active Community Assessment & Engagement
funding. They will be working with community stakeholders about active living principles and help them
apply those principles to their community planning processes.
• Arrowhead Regional Development Commission/Northeastern Minnesota Obesity Prevention
Project
• Dakota County
• Hennepin County
Active Community Planning and Active Community Assessment & Engagement funding is part of a
larger community funding initiative by Blue Cross’ Prevention Minnesota. Communities on the Move
projects encourage regular physical activity among insufficiently active adults, and Communities for
Healthy Air projects support community-led efforts to reduce exposure to secondhand smoke in the state.
Communities on the Move is still accepting proposals through September and plans to fund an additional
20-50 projects. Funding for all these programs in 2006 will total approximately $5.8 million.
Community funding complements Prevention Minnesota’s other core strategies, which include
policy change, clinical initiatives, public awareness campaigns and outreach to high-risk groups.
Prevention Minnesota’s broad-based approach follows the strategic guidance of the Centers for Disease
Control and Prevention, which has cited community programs as an essential part of a comprehensive
health improvement program.
For more information visit www.preventionminnesota.com.
Blue Cross and Blue Shield of Minnesota, with headquarters in the St. Paul suburb of Eagan, was
chartered in 1933 as Minnesota’s first health plan and continues to carry out its charter mission today: to promote
a wider, more economical and timely availability of health services for the people of Minnesota. A not-for-profit,
taxable organization, Blue Cross is the largest health plan based in Minnesota, covering 2.7 million members in
Minnesota and nationally through its health plans or plans administered by its affiliated companies. Blue Cross and
Blue Shield of Minnesota is an independent licensee of the Blue Cross and Blue Shield Association, headquartered
in Chicago. Go to www.bluecrossmn.com to learn more about Blue Cross and Blue Shield of Minnesota.
City Council Study Session
Written Report: 102306 - 5 - September 2006 Interim Financial Statements
Page 1
5. September 2006 Financial Statements Finance
Attached are the September 2006 financial statements for the General Fund and the Park and
Recreation fund. The list below summarizes what is included in this packet.
1. Monthly financial statements for the overall general fund and park and recreation fund by
account summary level comparing the annual budget figures to the ninth month of 2006
actual figures.
2. Monthly financial statements for expenditures of the general fund by each department
and for expenditures of the park and recreation fund by each division that compares the
annual budget figures to the ninth month of 2006 actual figures.
Please note that a negative sign in front of a revenue figure indicates a positive number or rather
actual revenue received. In addition, when comparing the “Monthly Financial Report” to the
“Departmental Expenditure report”, the “Departmental Expenditure Report” does not include
budgeted or actual transfers nor miscellaneous expenses that are included as “other expense”.
In reviewing the September financial statements, it is important to note a couple of key factors
that had an impact this month to the monthly statements provided:
GENERAL FUND
Revenue:
• Licenses and Permits revenue decreased by approximately $34,000 related to large
permits in August for Target and Granite City. In addition, the construction season is
winding down; therefore, fewer permits are applied for, thus resulting in decreased
revenues.
• Intergovernmental revenue increased by approximately $21,000 which is attributable to
the P.O.S.T. Board continuing education funding for $17,800 and vest reimbursement
from the Federal Government of $3,200 both within the Police Department.
Expenditures:
• Personal Services expenditures decreased by approximately $200,000 which is attributed
to three days less of payroll in September when compared to August.
• Supplies expenditures increased by approximately $13,000 which is attributable to
increased crack sealing material purchases in Public Works for $6,000, uniform and
ammunition purchases in the Police Department for approximately $6,000 and $1,000
respectively.
• Non-Capital Equipment expenditures increased by approximately $13,000 which is
entirely attributed to the purchase of fitness equipment for the Fire Department with a
fitness grant. This fitness grant will reimburse 90% of the expenditures to the Fire
Department.
• Services and Other Charges expenditures increased by approximately $46,000 due to the
following items: Administrative Services - $18,000 – Election Judge pay; Public Works -
$11,000 – pavement condition analysis contract and $8,000 for Engineering Services due
to the Decatur Ave. flooding; Fire - $6,000 for physicals related to the fitness grant;
Human Resources - $3,000 in legal costs.
City Council Study Session
Written Report: 102306 - 5 - September 2006 Interim Financial Statements
Page 2
PARKS AND RECREATION
Revenues:
• Charges for Services revenue decreased by approximately $174,000 which is attributable
to decreases in D.E.D. tree removal and injections. Pool admission, concession revenue
and program revenue decreased by approximately $53,000, $20,000 and $26,000
respectively as the summer season ended.
• Miscellaneous revenue increased by approximately $70,000 which is attributable to a
decrease of about $55,000 in ice rentals and $15,000 in room rentals at the Recreation
Center.
Expenditures:
• Personal Services expenditures decreased by approximately $118,000 which is attributed
to three days less of payroll in September when compared to August and the reduction of
seasonal staff.
• Services and Other Charges Expenditures decreased by approximately $65,000 which is
entirely attributed to the injection, removal, and clean-up of D.E.D. trees.
• Contribution/Donations increased by $8,400 which is a result of contributions from the
Minnesota Community Foundation to the Westwood Nature Center.
Additional reminders from previous reports:
• Since the City budgets on an annual basis, the budget numbers that appear on the monthly
financial reports are annual figures. However, the actual revenues and expenditures are
monthly figures. Therefore, you will see much fluctuation in the month to month
comparison.
• The interest revenue allocation is not yet reflected in the Year-to date actual numbers.
Therefore, interest revenue is showing as a negative number. This number will be offset
with the interest earnings once the allocation is completed.
• Due to the fact that overall revenues are low during the beginning months of each year,
the city keeps a reserve of approximately four months of expenditures for cash flow
purposes.
Attachments: Monthly Financial Statements
Prepared By: Brian Swanson, Accounting Manager
Reviewed By: Jodi Bursheim, Assistant Finance Director
Approved By: Tom Harmening, City Manager
10/17/2006CITY OF ST LOUIS PARK 15:44:06R5509FDOSLCOUNCIL1
1Page -Expenditure Report by CompanySt Louis Park Monthly Expenditure Council Report
9/30/2006
Description
Annual
Budget
Current Month
Actual
YTD
Balance Balance
Exp.
%
Avail.
%
01000 GENERAL FUND
100 GENERAL 7.50 7.50-.0 .0
105 LEGISLATIVE 104,400.00 7,923.50 104,212.63 187.37 99.8 .2
110 ADMINISTRATION 802,999.00 81,829.19 592,025.26 210,973.74 73.7 26.3
120 FINANCE 1,039,139.00 87,102.47 881,360.73 157,778.27 84.8 15.2
130 HUMAN RESOURCES 531,287.00 41,050.69 395,916.18 135,370.82 74.5 25.5
135 COMMUNITY DEVELOPMENT 982,831.00 97,786.08 937,381.40 45,449.60 95.4 4.6
140 FACILITIES MAINTENANCE 913,623.00 85,505.79 625,904.29 287,718.71 68.5 31.5
145 TECHNOLOGY & SUPPORT SERVICES 1,384,839.00 93,376.80 1,033,011.75 351,827.25 74.6 25.4
150 COMMUNICATIONS & MARKETING 219,261.00 26,764.48 147,726.06 71,534.94 67.4 32.6
155 COMMUNITY OUTREACH 122,451.00 852.36 79,911.04 42,539.96 65.3 34.7
160 POLICE 6,695,043.64 485,012.52 4,663,518.98 2,031,524.66 69.7 30.3
165 FIRE PROTECTION 2,693,965.00 237,106.21 2,054,454.87 639,510.13 76.3 23.7
170 INSPECTIONAL SERVICES 1,735,300.00 132,315.99 1,279,476.94 455,823.06 73.7 26.3
175 PUBLIC WORKS 4,059,440.00 336,475.61 2,868,341.77 1,191,098.23 70.7 29.3
01000 GENERAL FUND 21,284,578.64 1,713,101.69 15,663,249.40 5,621,329.24 73.6 26.4
10/19/2006CITY OF ST LOUIS PARK 9:16:50R5509FIN1LOGIS001
1Monthly Financial Report Page -By Co (pb), Object
2006
20069/30/2006 <==========================================>20052006
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 13,001,118.00-5,638,811.46-7,362,306.54-43.37 |12,638,501.00-6,392,747.63-50.58
4100 LICENSES & PERMITS 2,483,600.00-216,894.63-2,385,647.59-97,952.41-96.06 |2,384,325.00-2,153,883.81-90.34
4270 FINES & FORFEITS 283,300.00-22,250.71-238,598.23-44,701.77-84.22 |289,300.00-213,671.52-73.86
4300 INTERGOVERNMENTAL 1,779,366.12-699,662.01-2,579,336.82-799,970.70 144.96 |1,750,504.00-1,554,313.24-88.79
4600 CHARGES FOR SERVICES 1,025,436.00-53,925.20-600,239.04-425,196.96-58.54 |988,144.00-699,447.80-70.78
5100 SPECIAL ASSESSMENTS 804.51-804.51 |251.04-
5200 MISCELLANEOUS 106,400.00-8,264.25-90,284.23-16,115.77-84.85 |106,400.00-79,349.69-74.58
4001 REVENUES 18,679,220.12-1,000,996.80-11,533,721.88-7,145,498.24-61.75 |18,157,174.00-11,093,664.73-61.10
6001 EXPENDITURES
6002 PERSONAL SERVICES 16,202,594.64 1,264,392.98 12,331,181.50 3,871,413.14 76.11 |14,927,395.47 10,896,625.33 73.00
6210 SUPPLIES 633,303.00 53,201.75 378,269.05 255,033.95 59.73 |636,259.00 356,749.94 56.07
6300 NON-CAPITAL EQUIPMENT 68,900.00 30,084.61 99,144.45 30,244.45-143.90 |173,018.00 26,763.77 15.47
6350 SERVICES & OTHER CHARGES 4,344,781.00 354,747.77 2,843,979.82 1,500,801.18 65.46 |4,450,082.00 2,875,840.46 64.62
7800 CAPITAL OUTLAY 35,000.00 10,909.41 10,909.41 24,090.59 31.17 |41,000.00 5,112.00 12.47
6001 EXPENDITURES 21,284,578.64 1,713,336.52 15,663,484.23 5,621,094.41 73.59 |20,227,754.47 14,161,091.50 70.01
8001 OTHER INCOME
8010 TRANSFERS IN 2,609,819.00-217,484.92-1,957,364.28-652,454.72-75.00 |2,319,761.00-1,739,820.78-75.00
8065 SALE OF SALVAGE |2,000.00
8070 OTHER RECOVERIES 1,652.17-1,652.17 |1,205.12-
8100 INTEREST 173,500.00-1.44-69,658.97 243,158.97-40.15-|130,000.00-118,714.75-91.32
8130 CONTRIBUTIONS/DONATIONS 2,479.50-2,479.50 |949.48-
8170 ADMINISTRATION FEES 6,000.00-3,621.33-2,378.67-60.36 |6,000.00-3,670.98-61.18
8200 MISC REVENUE 10,000.00-1,370.19-8,629.81-13.70 |10,000.00-2,415.34-24.15
8001 OTHER INCOME 2,799,319.00-217,486.36-1,896,828.50-902,490.50-67.76 |2,465,761.00-1,864,776.45-75.63
8501 OTHER EXPENSE
8510 TRANSFERS OUT |31,323.00
8550 INTEREST/FINANCE CHARGES 500.00 11.77 309.72 190.28 61.94 |400.00 879.03 219.76
8580 MISC EXPENSE 193,462.00 1,523.37 13,151.23 180,310.77 6.80 |363,455.00 7,990.89 2.20
8590 BANK CHARGES/CREDIT CD FEES 11,737.16 11,737.16-|9,783.48
8501 OTHER EXPENSE 193,962.00 1,535.14 25,198.11 168,763.89 12.99 |395,178.00 18,653.40 4.72
4000 REVENUES & EXPENSES 1.52 496,388.50 2,258,131.96 2,258,130.44-*********|2.53-1,221,303.72 **********
01000 GENERAL FUND 1.52 496,388.50 2,258,131.96 2,258,130.44-*********|2.53-1,221,303.72 **********
10/19/2006CITY OF ST LOUIS PARK 9:16:50R5509FIN1LOGIS001
2Monthly Financial Report Page -By Co (pb), Object
2006
20069/30/2006 <==========================================>20052006
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 2,887,292.00-1,442,448.70-1,444,843.30-49.96 |2,735,828.00-1,383,984.59-50.59
4100 LICENSES & PERMITS 225.00-7,035.00-7,035.00 |6,300.00-
4300 INTERGOVERNMENTAL 94,702.00-54,326.27-40,375.73-57.37 |44,702.00-22,351.00-50.00
4600 CHARGES FOR SERVICES 1,147,777.00-62,706.12-1,021,709.41-126,067.59-89.02 |1,213,817.00-1,130,718.21-93.15
5100 SPECIAL ASSESSMENTS 35,332.29-35,332.29 |9,954.18-
5200 MISCELLANEOUS 702,072.00-37,819.42-268,038.56-434,033.44-38.18 |665,652.00-470,106.54-70.62
4001 REVENUES 4,831,843.00-100,750.54-2,828,890.23-2,002,952.77-58.55 |4,659,999.00-3,023,414.52-64.88
6001 EXPENDITURES
6002 PERSONAL SERVICES 2,720,157.21 193,999.84 2,186,482.77 533,674.44 80.38 |2,603,276.10 2,073,892.49 79.66
6210 SUPPLIES 344,732.00 30,623.25 283,264.40 61,467.60 82.17 |326,044.00 280,256.99 85.96
6300 NON-CAPITAL EQUIPMENT 10,500.00 2,614.95 7,885.05 24.90 |10,000.00 4,017.41 40.17
6350 SERVICES & OTHER CHARGES 1,656,847.00 181,627.41 1,462,575.66 194,271.34 88.27 |1,938,950.00 1,657,454.53 85.48
7800 CAPITAL OUTLAY 14,500.00 366.89 8,505.29 5,994.71 58.66 |20,000.00 2,390.00 11.95
6001 EXPENDITURES 4,746,736.21 406,617.39 3,943,443.07 803,293.14 83.08 |4,898,270.10 4,018,011.42 82.03
8001 OTHER INCOME
8010 TRANSFERS IN |357,302.25-200,979.22-56.25
8070 OTHER RECOVERIES 25.00-25.00 |
8100 INTEREST 8,000.00-8,000.00-|8,000.00-717.94-8.97
8130 CONTRIBUTIONS/DONATIONS 5,900.00-9,975.00-25,070.66-19,170.66 424.93 |11,200.00-410.08-3.66
8200 MISC REVENUE 108.78-108.78 |
8001 OTHER INCOME 13,900.00-9,975.00-25,204.44-11,304.44 181.33 |376,502.25-202,107.24-53.68
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES 4.14 4.14-|9.01
8560 SCHOLARSHIP PAYMENTS 500.00 500.00-|
8580 MISC EXPENSE 468.00 530.75 530.75-|9,653.50
8590 BANK CHARGES/CREDIT CD FEES 10,228.00 10,228.00-|8,039.04
8501 OTHER EXPENSE 468.00 11,262.89 11,262.89-|17,701.55
4000 REVENUES & EXPENSES 99,006.79-296,359.85 1,100,611.29 1,199,618.08-1,111.65-|138,231.15-810,191.21 586.11-
02000 PARK AND RECREATION 99,006.79-296,359.85 1,100,611.29 1,199,618.08-1,111.65-|138,231.15-810,191.21 586.11-
10/17/2006CITY OF ST LOUIS PARK 15:44:44R5509FDOSLPCOUCIL2
1Page -Expenditure Report by CompanyExpenditure report for Park & Rec
9/30/2006
Description
Annual
Budget
Current Month
Actual
YTD
Balance Balance
Exp.
%
Avail.
%
02000 PARK AND RECREATION
200 ORGANIZED RECREATION 1,193,136.00 72,704.64 946,347.68 246,788.32 79.3 20.7
210 PARK MAINTENANCE 1,527,675.92 128,831.94 1,206,255.86 321,420.06 79.0 21.0
220 ENVIRONMENT 273,618.14 34,981.53 405,715.34 132,097.20-148.3 48.3-
230 WESTWOOD 445,456.60 33,484.69 321,667.43 123,789.17 72.2 27.8
240 RECREATION CENTER 1,306,849.55 125,745.81 1,052,587.98 254,261.57 80.5 19.5
02000 PARK AND RECREATION 4,746,736.21 395,748.61 3,932,574.29 814,161.92 82.8 17.2