Details for 2017 Financial Statements (1)
Updated
CITY OF HILLTOP, MINNESOTA SUMMARY FINANCIAL REPORT REVENUES AND EXPENDITURES FOR GENERAL OPERATIONS GOVERNMENTAL FUNDS FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 The purpose of this report is to provide a summary of information concerning the City of Hilltop to interested citizens. The complete financial statements may be examined at City Hall, 4555 Jackson Street NE, Hilltop, Minnesota 55421. Questions about this report should be directed to Ruth Nelson, City Clerk/Treasurer at (763) 571-2023. CITY OF HILLTOP, MINNESOTA STATEMENT OF NET POSITION - PROPRIETARY FUND WATER AND SEWER ENTERPRISE FUND Year Ended December 31, 2017 and 2016 CITY OF HILLTOP, MINNESOTA STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND NET POSITION - PROPRIETARY FUND WATER AND SEWER ENTERPRISE FUND YEAR ENDED DECEMBER 31, 2017 and 2016 CONTINUED...
CITY OF HILLTOP, MINNESOTA SUMMARY FINANCIAL REPORT REVENUES AND EXPENDITURES FOR GENERAL OPERATIONS GOVERNMENTAL FUNDS FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 Percent Increase (Decrease) 2017 2016 REVENUES Property taxes 607,783 562,779 8.00% Licenses and permits 23,913 12,113 97.42% Intergovernmental 170,720 468,162 -63.53% Charges for services 129,376 80,473 60.77% Fines and forfeits 2,822 3,787 -25.48% Miscellaneous Investment Income 1,620 1,498 8.14% Refunds and Reimbursements 1,955 9,339 -79.07% Other 311 -100.00% Total Revenues 938,189 1,138,462 -17.59% Per Capita 1,197 1,425 -16.01% EXPENDITURES Current: General Government 340,692 326,758 4.26% Public Safety 313,271 306,957 2.06% Public Works 144,506 136,175 6.12% Culture and Recreation 3,146 4,689 -32.91% Sanitation 17,882 18,026 -0.80% Building Inspection 12,671 3,573 N/A Capital outlay General Government 171 -100.00% Public Works 17,767 344,167 -94.84% Total Expenditures 849,935 1,140,516 -25.48% Per Capita 1,084 1,427 -24.05% General Fund balance - December 31 1,253,506 1,179,200 6.30% Per Capita 1,599 1,476 8.34% The purpose of this report is to provide a summary of information concerning the City of Hilltop to interested citizens. The complete financial statements may be examined at City Hall, 4555 Jackson Street NE, Hilltop, Minnesota 55421. Questions about this report should be directed to Ruth Nelson, City Clerk/Treasurer at (763) 571-2023. CITY OF HILLTOP, MINNESOTA STATEMENT OF NET POSITION - PROPRIETARY FUND WATER AND SEWER ENTERPRISE FUND Year Ended December 31, 2017 and 2016 2017 2016 Assets Current Assets Cash and investments (including cash equivalents) $34,066 $Accounts receivable 29,764 17,149 Special assessments receivable - delinquent 106,373 141,831 Prepaid expenses 6,032 Total Current Assets 170,203 165,012 Noncurrent Assets Capital Assets Infrastructure 629,909 629,909 Machinery and equipment 17,062 17,062 Total capital assets 646,971 646,971 Less accumulated depreciation (314,020) (297,508) Net capital assets 332,951 349,463 Total assets $503,154 $514,475 Liabilities and Net Position Current Liabilities Accounts payable $263 $2,778 Due to other governments 11,508 8,770 Total Current Liabilities 11,771 11,548 Net Position Net investment in capital assets 332,951 349,463 Unrestricted 158,432 153,464 Total Net Position 491,383 502,927 Total Liabilities and Net Position $503,154 $514,475 CITY OF HILLTOP, MINNESOTA STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND NET POSITION - PROPRIETARY FUND WATER AND SEWER ENTERPRISE FUND YEAR ENDED DECEMBER 31, 2017 and 2016 2017 Operating Revenues Charges for services Operating Expenses Water purchases MCES charges Repairs and maintenance Professional services Utilities Depreciation Miscellaneous Total Operating Expenses Operating Loss Transfers in Change in Net Position Net Position Beginning of year Change in accounting principle (Note 11) Beginning of year as restated End of year 2016 $178,808 $180,326 98,603 93,796 5,116 1,309 3,035 16,512 457 218,828 (40,020) 14,060 (25,960) 80,452 83,573 2,216 2,594 2,704 15,359 3,319 190,217 (9,891) 8,336 (1,555) 502,927 14,416 517,343 $491,383 504,482 504,482 $502,927 CONTINUED...
