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<br />2003 Minnesota City Summary Budget Statement for Publication
<br />
<br />The purpose ofthis report is to provide summary 2003 budget information concerning the City of Hastings to interested
<br />citizens. The budget is published in accordance with Minn. Stat. Sec. 471.6965. This budget is not complete; the
<br />complete budget may be examined at The City of Hastings, 101 4th Street East, Hastings. The City Council approved
<br />this budget on December 2, 2002.
<br />
<br />2003 Budget
<br />Budget Govemmental Funds
<br />Revenues:
<br />T_
<br />Special Assessments
<br />Licenses and Permits
<br />Intergovernmental Revenues
<br />Federal
<br />Stale
<br />County/Other Local Units
<br />Charges for Services
<br />Fines and Forfeits
<br />Interest on Investments
<br />Miscellaneous Revenues
<br />Total Revenues
<br />
<br />2001 Actual
<br />
<br />$ 5,025.392
<br />1,312,444
<br />726.539
<br />
<br />30,186
<br />2,953,417
<br />30,073
<br />2,363,224
<br />118.687
<br />754,704
<br />1,055,542
<br />$14,370,208
<br />
<br />Expenditures:
<br />Current:
<br />General Government
<br />Public Safety
<br />Streets and Highways
<br />Sanitation
<br />Culture and Recreation
<br />Urban/Econ. Dav. & Housing
<br />Miscellaneous
<br />Debt Service Principal
<br />Interest & Fiscal Charges
<br />Capital Outlay
<br />Total Expenditures
<br />Excess (deficiency) of Revenues
<br />Over (under) Expenditures
<br />
<br />$ 1,353,630
<br />3,856,278
<br />1,339,082
<br />49,998
<br />1,443,227
<br />88,310
<br />318,367
<br />4,649,717
<br />758,237
<br />3,400,213
<br />$17,257,059
<br />
<br />
<br />$(2,886,851)
<br />
<br />Other Financing Sources (Uses)
<br />Bond Proceeds
<br />OperalingTransfersln
<br />Operating Transfers Out
<br />Total Other Fin. Sources (Uses)
<br />Excess of Revenues & Other Financing Sources
<br />over Expenditures & Other Uses
<br />Property Tax Levy Requirement
<br />to Fund this Budget
<br />
<br />$ 430,000
<br />405,000
<br />(390,015)
<br />14,985
<br />
<br />(2,871,866)
<br />
<br />$5,012,646
<br />
<br />Enterprise Funds 2003 Adopted Budget
<br />
<br />Sales & Costs of Sales Water Sewer
<br />Operating Revenues
<br />Charges for services $1,395,000 $1,460,000
<br />Tolal Gross Prott"
<br />Operating Revenues $1,395,000 $1,460,000
<br />
<br />Operattng Expenses
<br />Personal Services
<br />Other Svcs. & Charges
<br />Supplies
<br />Totsl Opet', Expenses
<br />Operating Income(Lass)
<br />
<br />$423.689
<br />330,693
<br />115,250
<br />$869,632
<br />$525,368
<br />
<br />$252,561
<br />931,906
<br />6,150
<br />$1,190,617
<br />$269,383
<br />
<br />Non-Operating R8venues(Expenses)
<br />Interest Eamings
<br />Interest & Fiscal Chrgs.
<br />Miscellaneous
<br />Totsl Non-Operating Revenues (Expenses)
<br />Income (loss) Belore Operating Transfers
<br />Operating Transfers In (Out)
<br />Net Income (loss)
<br />
<br />$52.000
<br />75,Q88
<br />50.000
<br />$26,912
<br />552,280
<br />o
<br />$552:280
<br />
<br />$98,000
<br />-0-
<br />-0.
<br />198.000
<br />367,383
<br />o
<br />_,383
<br />
<br />Transit
<br />
<br />$55,000
<br />$55.000
<br />
<br />$222,960
<br />30,960
<br />12,485
<br />$266,425
<br />$(211,425)
<br />
<br />$10,000
<br />-0.
<br />212,445
<br />$222,445
<br />11,020
<br />o
<br />$11,020
<br />
<br />2002 Budget
<br />
<br />$ 6,720,728
<br />780,000
<br />447,760
<br />
<br />41,000
<br />2,035,374
<br />31,500
<br />1,866,633
<br />83,000
<br />287,150
<br />23,267
<br />$12,316,412
<br />
<br />2003 Adopted
<br />
<br />$ 6,740,927
<br />303,000
<br />514,400
<br />
<br />2,584,037
<br />15,000
<br />1,910,452
<br />114,007
<br />403,125
<br />66,317
<br />$12,651,265
<br />
<br />$ 1,486,013 $ 1,428,055
<br /> 4,134,441 4,317,865
<br /> 1,539,632 1,589,974
<br /> 56,853 59,480
<br /> 1,517,093 1,579,051
<br /> 145,119 28,011
<br /> 368,000 346,000
<br /> 1,760,000 1,415,000
<br /> 1,096,672 705,766
<br /> 2,657,146 2,175,574
<br />$14,760,969 $13,644,776
<br />$(2,444,557) $(993,511 )
<br /> $135,705
<br /> 327,046 29,459
<br /> (75,000) (69,900)
<br /> 682,046 95,264
<br /> (1,762,511) (898,247)
<br />$6,541,228 $6,531,927
<br />
<br />Hydro 2003 Budget 2002 Budget
<br />$1,189,500 $4,099,500 $3,071,000.00
<br />$1,189,500 $4,099,500 $3,071,000
<br />
<br />$121,920
<br />232.,757
<br />4,400
<br />$359,077
<br />$830,423
<br />
<br />$59,000
<br />(964,204)
<br />-0-
<br />$(905,204)
<br />(74,781)
<br />o
<br />$(74,781)
<br />
<br />.
<br />
<br />$1,021,150
<br />1,526,316
<br />138,285
<br />$2,685,751
<br />$1,413,749
<br />
<br />$957,212
<br />1,666,150
<br />127,985
<br />$2,751,347
<br />$319,653
<br />
<br />$219,000
<br />(1,039,292)
<br />262,445
<br />$(557,847)
<br />855,902
<br />o
<br />$855,902
<br />
<br />$125,000
<br />(532,950)
<br />230,000
<br />$(177,950)
<br />141,703
<br />o
<br />$141,703
<br />
<br />City Receives
<br />Financial Award of
<br />Recognition
<br />
<br />The Certificate of
<br />Achievement for
<br />Excellence in Financial
<br />Reporting has been
<br />awarded to the City of
<br />Hastings by the
<br />Government Finance
<br />Officers Association of the
<br />United States and Canada
<br />(GFOA) for its
<br />Comprehensive Annual
<br />Financial Report (CAFR).
<br />The Certificate of
<br />Achievement is the highest
<br />form of recognition in the
<br />area of governmental
<br />accounting and financial
<br />reporting, and its
<br />attainment represents a
<br />significant
<br />accomplishment by the
<br />government and its
<br />management.
<br />
<br />This is the 6th consecutive
<br />year that the Hastings
<br />Finance Department has
<br />received this award. The
<br />City's CAFR is available
<br />for review at the Pleasant
<br />Hill County Library, 1490
<br />South Frontage Road,
<br />Hastings.
<br />
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