HomeMy WebLinkAboutQ4 2015 Final Financial Report.pdf
AGENDA BILL APPROVAL FORM
Agenda Subject: 4th Quarter 2015 Financial Report Date: February 05, 2016
Department: Finance Attachments: Quarterly Financial Report Budget Impact: $0
Administrative Recommendation: For discussion only.
Background Summary:
The purpose of the quarterly financial report is to summarize for the City Council the general state of
Citywide financial affairs and to highlight significant items or trends that the City Council should be aware
of. The following provides a high level summary of the City’s financial performance; further details can be
found within the attached financial report.
The fourth quarter status report is based on financial data available as of February 4, 2016 for the period
ending December 31, 2015. Sales tax information represents business activity that occurred through
October 2015.
General Fund:
The General Fund is the City’s largest fund and accounts for the majority of City resources and services,
other than those required by statute to be accounted for in another fund.
In 2015, General Fund revenues totaled $61.0 million compared to a budget of $58.9 million and were
$2.2 million higher than the revenues collected in 2014. Notable variances to budget in 2015 include:
General Fund sales tax revenues totaled $14.6 million and exceeded budget by 6.7% or $911,000.
In addition, sales tax credit for annexation and criminal justice sales tax revenues exceeded budget
expectations by $133,000 and $227,000 respectively.
Collections in electric tax and natural gas tax revenues ended the year under budget by $204,000
and $150,000 respectively due primarily to a mild winter which reduced customer demand for
heating. This unfavorable variance was somewhat offset by favorable variances in City utility tax
collections.
Development services fees totaled $1.4 million and exceeded budget by $720,000. Of this,
$575,000 of this was attributable to the fact that plan check revenues far exceeded budget
expectations. Both The Villas (Senior Living Community) and the Promenade Apartment project
contributed to these higher than usual collections.
General Fund expenditures through December totaled $61.1 million as compared with a budget of $65.1
million. This represents a 6.1% year-end underspend compared to budget. All departments operated
within their allocated budgets in 2015.
Ending 2015 fund balances will not be finalized until approximately June 2016 pending final year-end
adjustments and certification by the State Auditor’s Office. Once the final ending 2015 fund balances are
available, budgeted beginning 2016 fund balances will be reconciled and adjusted accordingly.
In 2015, 5,112 pet licenses were sold resulting in $147,152 in revenue. For the same period in 2014,
5,811 licenses were sold resulting in $155,790 in revenue.
Agenda Subject: 4th Quarter 2015 Financial Report Date: 2/05/2016
Street Funds:
The City’s three street funds are special revenue funds where the revenue sources and expenditures are
legally restricted. These funds are used for street capital construction projects, local street repair and
arterial street repair and preservation projects. In 2015, Arterial Street fund revenues collected totaled
$4.7 million as compared to collections of $3.5 million in 2014; expenditures totaled $6.9 million as
compared to $3.8 million spent last year. Local Street fund revenues exceeded budget expectations by
$698,000, or 39.8%, due to higher than anticipated sales tax revenues from local construction projects;
expenditures were under budget by $957,000, or 28.4%. Lastly, Arterial Street Preservation fund
revenues totaled $2.7 million as compared to a budget of $2.9 million, while expenditures totaled $4.0
million.
Enterprise Funds:
The City’s seven enterprise funds account for operations with revenues primarily provided from user fees,
charges or contracts for services.
At the end of 2015, the Water fund had net operating income of $1,076,100 compared to operating
income of $1,757,300 at the end of 2014. The Sewer fund ended the year with net income of $109,300
compared to income of $181,500 in the previous year. The Sewer-Metro Utility ended 2015 with
operating income of $186,800 as compared to operating income of $273,900 in 2014. Lastly, the
Stormwater Utility ended the year with operating income of $1,316,800 compared to operating income of
$1,486,200 at the end of 2014.
The Cemetery ended 2015 with net operating income of $19,600 compared to operating income of
$2,900 in 2014.
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Worker’s Compensation, Facilities, Innovation and Technology, and Equipment Rental. All
funds have sufficient revenues to cover year-end expenditures.
Investment Portfolio:
The City’s total cash and investments at the end of the year was $115.1 million, and compares to $115.7
million at the end of Q3-2015.
Staff: Coleman
Meeting Date: February 22, 2016 Item Number:
Quarterly Financial Report Through Q4-2015
General Fund Summary
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Year-End General Fund Revenues and Expenditures
(Through Q4-2015)
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1
Quarterly Financial Report Through Q4-2015
General Fund 2014
Summary of Sources and Uses Annual
Budget YE Budget YE ActualYE Actual Amount
Operating Revenues
Property Tax 17,182,600$ 17,182,600$ 17,199,418$ 15,805,041$ 16,818$ 0.1 %
Sales Tax 13,662,00013,662,00014,573,16413,891,465 911,164 6.7 %
Sales Tax - Annexation Credit 1,856,0001,856,0001,988,5231,836,391 132,523 7.1 %
Criminal Justice Sales Tax 1,589,0001,589,0001,815,8331,658,228 226,833 14.3 %
Brokered Natural Gas Tax 282,000282,000 248,670 275,327 (33,330)(11.8)%
City Utilities Tax 3,452,3003,452,3003,642,2183,479,570 189,918 5.5 %
Admissions Tax 330,300330,300 355,170 318,441 24,870 7.5 %
Electric Tax 3,435,6003,435,6003,232,5033,424,427(203,097)(5.9)%
Natural Gas Tax 1,152,0001,152,000 1,002,3341,136,969(149,666)(13.0)%
Cable TV Franchise Fee 888,900888,900 925,835 880,909 36,935 4.2 %
Cable TV Franchise Fee - Capital 63,000 63,000 69,680 62,993 6,680 10.6 %
Telephone Tax 1,811,0001,811,000 1,661,5051,805,572(149,495)(8.3)%
Garbage Tax (external)106,000106,000 114,870 110,566 8,870 8.4 %
Leasehold Excise Tax 33,000 33,000 66,544 37,233 33,544 101.6 %
Gambling Excise Tax 232,400 232,400 212,939 280,736 (19,461)(8.4)%
Taxes sub-total 46,076,100$ 46,076,100$ 47,109,207$ 45,003,866$ 1,033,107$ 2.2 %
Business License Fees 219,000$ 219,000$ 281,654$ 171,422$ 62,654$ 28.6 %
Building Permits 1,100,0001,100,000 1,209,8361,505,799 109,836 10.0 %
Other Licenses & Permits 532,300532,300 582,986 723,441 50,686 9.5 %
Intergovernmental (Grants, etc.)5,456,9515,456,9515,317,2595,063,108(139,692)(2.6)%
Charges for Services:
General Government Services 96,500 96,500 79,413 113,491 (17,087)(17.7)%
Public Safety 515,100 515,100 479,061 479,866 (36,039)(7.0)%
Development Services Fees 680,000680,000 1,400,292 1,101,680 720,292 105.9 %
Culture and Recreation 2,058,0802,058,0802,317,3512,219,387 259,271 12.6 %
Fines and Forfeits 788,040 788,040 938,775 1,239,233 150,735 19.1 %
Fees/Charges/Fines sub-total 11,445,971$ 11,445,971$ 12,606,628$ 12,617,427$ 1,160,657$ 10.1 %
Interest and Other Earnings 36,850$ 36,850$ 57,464$ 41,767$ 20,614$ 55.9 %
Rents, Leases and Concessions 573,200573,200 729,969 710,705 156,769 27.3 %
Contributions and Donations 32,000 32,000 39,712 46,851 7,712 24.1 %
Other Miscellaneous 107,400107,400 218,832 168,357 111,432 103.8 %
Transfers In 560,823560,823 97,443 121,652(463,380)(82.6)%
Insurance Recoveries - Capital & Operating 50,600 50,600 153,041 102,377 102,441 202.5 %
Other Revenues sub-total 1,360,873$ 1,360,873$ 1,296,461$ 1,191,708$ (64,412)$ (4.7)%
Total Operating Revenues 58,882,944$ 58,882,944$ 61,012,296$ 58,813,002$ 2,129,352$ 3.6 %
Operating Expenditures
Council & Mayor 915,017$ 915,017$ 912,825$ 744,569$ 2,192$ 0.2 %
Administration 1,299,1361,299,136 1,171,634 719,335 127,502 9.8 %
Community & Human Services 1,406,5231,406,5231,222,557 942,026 183,966 13.1 %
Municipal Court & Probation 2,272,1102,272,1102,239,9831,265,243 32,127 1.4 %
Human Resources 1,137,7851,137,785 1,050,803 1,305,029 86,983 7.6 %
Finance 1,277,2251,277,2251,221,253 1,148,104 55,971 4.4 %
City Attorney 2,202,1592,202,159 1,901,141 1,742,176 301,018 13.7 %
Community Development 4,606,6754,606,6753,882,7093,783,049 723,966 15.7 %
Jail - SCORE 3,670,0003,670,000 3,658,8635,504,767 11,137 0.3 %
Police 22,887,78222,887,78222,085,78020,296,100 802,002 3.5 %
Public Works 2,724,4092,724,4092,620,4782,647,511 103,931 3.8 %
Parks, Arts & Recreation 11,135,56411,135,56410,816,576 9,600,201 318,988 2.9 %
Streets 3,365,6763,365,6763,016,2753,227,025 349,401 10.4 %
Non-Departmental 6,161,5656,161,5655,302,2502,319,980 859,315 13.9 %
Total Operating Expenditures 65,061,626$ 65,061,626$ 61,103,128$ 55,245,114$ 3,958,498$ 6.1 %
2015 2015 YE Budget vs. Actual
Favorable (Unfavorable)
Percentage
2
Quarterly Financial Report Through Q4-2015
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
December 31, 2015 (period 12) and represents financial data available as of February 4, 2016.
In 2015, General Fund revenues totaled $61.0 million compared to a budget of $58.9 million,
and were $2.2 million higher than the revenues collected during in 2014. Some notable
variances to budget this year include:
• General Fund sales tax revenues totaled $14.6 million, exceeding budget by 6.7% or
$911,000, and exceeding 2014 collections by $682,000. The areas of significant
increase in sales activity compared to 2014 were primarily seen in the construction
and automotive sales categories.
• The other taxes category ended the year $254,000, or 2.2%, lower than anticipated.
Collections in electric and natural gas tax revenues in 2015 were under budget by
$204,000 and $150,000, respectively, due primarily to a mild winter which reduced
customer demand for heating. Telephone tax revenues were also $150,000 below
budget. The underperformance in these revenues was somewhat offset by favorable
variances in City utility tax collections.
• Development services fees in 2015 totaled $1.4 million and exceeded budget by
$720,000. The increased revenues were predominately attributable to plan check
and public facility extension revenues, which surpassed budget expectations by
$575,000 and $101,000 respectively. There were two large projects in 2015 that
contributed to the favorability of plan check revenues: The Villas (Senior Living
Community) and the Promenade Apartment project.
• Culture and recreation revenues exceeded budget by $259,000, and exceeded 2014
collections by $98,000. The year-over-year increase was primarily due increased
revenues collected at the Auburn Golf Course for greens fees. Green fee revenue
collected in 2015 exceeded 2014 revenues collected by $118,000, which represents an
11.4% increase. The year-over-year increase was attributable to many factors,
including good weather during the main golf season.
• Other revenues ended the year $64,000, or 4.7% unfavorable to budget. This was
partially due to Transfer-In revenues having ended the year $463,000 below budget.
Transfer-In revenue is revenue that is transferred from one City fund to another City
fund. In this case, two separate transfers did not occur in 2015. The larger of the two
– a $350,000 transfer from the Innovation & Technology Fund – will be carried
forward into 2016 to fund technology improvements in the Community and
Youth/Teen Center. This variance was somewhat offset by higher than anticipated
revenues from City facility rental income.
Ending 2015 fund balances will not be finalized until approximately June 2016 pending final
year-end adjustments and certification by the State Auditor’s Office. Once the final ending 2015
fund balances are available, budgeted beginning 2016 fund balances will be reconciled and
adjusted accordingly.
3
Quarterly Financial Report Through Q4-2015
General Fund expenditures in 2015 totaled $61.1 million as compared to a budget of $65.1
million, representing 6.1% less than budget. All departments operated within their allocated
budget in 2015. Major savings were experienced in salaries and wages ($294,000) primarily due
to vacancies and reduced overtime costs; healthcare and other benefits ($780,000); and services
($2,025,000) due mainly to underexpenditures in professional service contracts, utilities,
contingency budget, and other miscellaneous expenses.
General Fund expenditures In were $5.9 million, or 10.6%, higher than 2014. The increase in
year-over-year expenditures was attributable to several factors including a $2.8 million transfer to
the Cumulative Reserve Fund to replenish prior withdrawals. Salary and benefit costs increased
year-over-year by $1.5 million, or 4.7%, due to several factors including increased number of
Council-approved positions in 2015, increased costs associated with healthcare and pensions, and
overall lower departmental vacancies compared to 2014. In addition, interfund charges in 2015
were $1.2 million, or 17.4%, higher than in 2014. This was seen primarily in interfund
Equipment Rental charges due to increased operating, capital construction, and replacement costs
and in the interfund Facilities charges due to repair and maintenance projects that were
completed on several City buildings. Lastly, the cost of providing 911 services in 2015 increased
$530,000 compared to 2014.
$58.9 M
$65.0 M
$61.0 M
$61.1 M
$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0
Revenues
Expenditures
$ Millions
General Fund
2015 Revenues vs. Expenditures 2015 YE Actual
2015 YE Budget
4
Quarterly Financial Report Through Q4-2015
Revenues
The combined total of property, sales/use, utility, gambling, and admissions taxes provides
approximately 80% of all resources supporting general governmental activities. The following
section provides additional information on these sources.
Property Tax collections in 2015 totaled $17.2 million and met budget expectations. The 2015
collection exceeded collections in 2014 by $1.4 million, or 8.8%. The majority of property tax
revenues are collected during the months of April and October, coinciding with the due dates for
the County property tax billings.
5
Quarterly Financial Report Through Q4-2015
Sales tax collections in 2015 totaled $16.9 million of which $14.6 million was distributed to the
General Fund and $2.3 million was distributed to the Local Street Fund (SOS) program.* Total
sales tax revenue distributions to the General Fund in 2015 exceeded budget expectations by
$911,000, or 6.7%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred in 2015 was $2,296,863. The graphic above presents sales taxes
under the current policy.
The following table breaks out the City’s base sales tax, excluding Criminal Justice, Annexation
Credit and Streamlined Sales Tax Mitigation, by major business sector.
20142015
Component Group ActualActual Amount
Construction 1,753,532$ 2,296,863$ 543,331$ 31.0 %
Manufacturing 1,163,090861,555(301,534)(25.9)%
Transportation & Warehousing 70,67965,671(5,008)(7.1)%
Wholesale Trade 1,204,7141,228,91924,205 2.0 %
Automotive 3,309,4043,706,535397,130 12.0 %
Retail Trade 4,679,9294,988,898308,969 6.6 %
Services 3,321,8273,645,551323,724 9.7 %
Miscellaneous 119,617 71,548(48,069)(40.2)%
YE Total 15,622,791$ 16,865,540$ 1,242,749$ 8.0 %
Change from 2014
December-2015
Comparison of Sales Tax Collections by SIC Group
Percentage
6
Quarterly Financial Report Through Q4-2015
Total sales tax revenue collected in 2015 exceeded 2014 collections by $1.2 million, or 7.8%.
The business sectors showing the largest increase in revenues compared to last year were in the
construction, automotive, and services categories.
Total sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103)
for local street repair and maintenance, totaled $2,297,000, which is $543,000 higher than last
year and exceeds the 2015 budget by $697,000.
7
Quarterly Financial Report Through Q4-2015
Utility Taxes consist of interfund taxes on City utilities (Water, Sewer, Storm and Solid Waste)
and taxes on external utilities (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes
collected in 2015 totaled $9.7 million compared to a budget of $10.0 million.
As shown in the table below, overall utility tax revenues collected in 2015 were $303,000, or
3.0%, below budget. A favorable variance in City interfund utility tax revenues partially offset
lower than expected collections from private utility providers, specifically in the Electric, Natural
Gas and the Telecommunications industries.
201420152015
Utility Tax Type Actual Budget Actual Amount Amount
City Interfund Utility Taxes 3,479,570$ 3,452,300$ 3,642,218$ $ 162,648 4.7 % $ 189,918 5.5 %
Electric 3,424,4273,435,6003,232,503 (191,924)(5.6)%(203,097)(5.9)%
Natural Gas 1,136,9691,152,0001,002,334 (134,634)(11.8)%(149,666)(13.0)%
Telephone 1,805,572 1,811,000 1,661,505 (144,067)(8.0)%(149,495)(8.3)%
Solid Waste (external)110,566 106,000 114,870 4,304 3.9 %8,870 8.4 %
YE Total 9,957,104$ 9,956,900$ 9,653,430$ $ (303,673)(3.0)% $ (303,470)(3.0)%
December-2015
Utility Tax by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
8
Quarterly Financial Report Through Q4-2015
Cable TV Franchise Fees, which are collected quarterly, totaled $926,000 and exceeded the 2015
budget of $889,000 by $37,000, or 4.2%.
9
Quarterly Financial Report Through Q4-2015
Licenses and Permits include business licenses, building permits, plumbing, electric and other
licenses and permit fees. Building permit fees and business licenses make up about 70% of the
annual budgeted revenue in this category.
Building permit revenues collected in 2015 totaled $1.2 million, compared to 2014 collections of
$1.5 million and a 2015 budget of $1.1 million. 2015 building permit activity included permitting
for several large commercial projects including several projects at Boeing, the Green River
Community College off-campus aviation building, Lakeland Hills Storage, and the Merrill Gardens
Senior Living complex. In addition, numerous housing developments were permitted in 2015 –
most notably Edgeview, Lakeland Hill Estates, and Mountain View North and South. Of the $1.2
million in building permit revenues collected in 2015, 33.4% was attributable to commercial
projects in the City, and the remaining 66.6% was predominately single family housing permits.
The total number of building permits issued in 2015 was 747 and compares to 846 issued in
2014.
10
Quarterly Financial Report Through Q4-2015
Business license revenues collected in 2015 totaled $282,000 compared to a budget of $219,000;
these revenues exceeded budget by $63,000 largely due to timing of collections. The graphic
below reflects the timing of payments by business owners, where the majority of business license
payments are typically collected during the first two months of the year and the last month of
the year.
11
Quarterly Financial Report Through Q4-2015
Intergovernmental revenues include Grants (Direct & Indirect Federal, State and Local), compact
revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental and state shared revenues.
Collections in 2015 totaled $5.3 million and ended the year $140,000, or 2.6%, under budget.
Favorable variances in Motor Vehicle Fuel Tax revenue and Liquor Excise revenues partially offset
the reduced revenues received in Federal, State and Interlocal grant monies. In 2015, grant
revenues were $308,000 under budget although this does not include Period 13 accruals that will
account for the 2015 revenues to be collected for reimbursable services. The Federal COPS grant
will end the year $58,000 under budget due to the timing of the hire dates of the two COPS
Grant Officers.
Effective during the state’s 2016 fiscal year budget cycle, the City of Auburn does not qualify for
Criminal Justice High Crime revenues because the City’s crime rate for the last reporting period
did not exceed the statewide average. Therefore, the City of Auburn will not receive these
distributions for reporting periods Q3-2015 through Q2-2016. The fiscal impact to the City of
Auburn in 2015 was an estimated reduction in General Fund revenues in the amount of $96,000.
201420152015
Revenue Actual Budget Actual Amount Amount
Federal Grants 187,468$ 454,124$ 264,721$ $ 77,253 41.2 % $(189,403)(41.7)%
State Grants 118,683 317,116 235,772 117,089 98.7 %(81,344)(25.7)%
Interlocal Grants 40,90167,44030,207 (10,694)0.0 %(37,234)(55.2)
Muckleshoot Casino Emerg.603,283575,000601,616 (1,667)(0.3)%26,616 4.6 %
Intergovernmental Service 63,670 0 18,162 (45,508)(71.5)%18,162 N/A
State Shared Revenues:
Streamlined Sales Tax 1,962,161 2,000,000 1,951,097 (11,064)(0.6)%(48,903)(2.4)%
Motor Vehicle Fuel Tax 1,023,468 950,000 1,072,284 48,816 4.8 %122,284 12.9 %
Criminal Justice - High Crime 95,789192,00096,509 720 0.8 %(95,491)(49.7)%
Criminal Justice - Population 18,835 18,100 19,942 1,107 5.9 %1,842 10.2 %
Criminal Justice - Special Prog.69,77567,80073,066 3,292 4.7 %5,266 7.8 %
Marijuana Enforcement 0 0 9,759 9,759 N/A 9,759 N/A
State DUI 13,18613,400 11,306 (1,879)(14.3)%(2,094)(15.6)%
Fire Insurance Tax 77,558 70,000 75,702 (1,855)(2.4)%5,702 8.1 %
Liquor Excise 137,613101,630203,184 65,570 47.6 %101,554 99.9 %
Liquor Profit 650,720630,340653,931 3,211 0.5 %23,591 3.7 %
Total State Shared:4,049,1044,043,2704,166,781117,678 2.9 %123,511 3.1 %
YE Total 5,063,108$ 5,456,951$ 5,317,259$ 254,151$ 5.0 %(139,692)$ (2.6)%
December-2015
Intergovernmental
2015 vs. 2014 Actual 2015 vs. Budget
% Change % Change
12
Quarterly Financial Report Through Q4-2015
Charges for Services consist of general governmental services, public safety, development service
fees and cultural & recreation fees. Overall, charges for services collected in 2015 totaled $4.3
million compared to a budget of $3.3 million. Total revenues collected in 2015 exceed budget
by $926,000, or 27.7%.
General governmental revenues in 2015 totaled $79,000 compared to a budget of $97,000.
The underperformance to budget was due to the fact that the City no longer provides services to
the City of Algona; therefore the City did not receive reimbursement for services.
Public safety revenues collected in 2015 totaled $479,000, compared to budget of $515,000.
Public safety revenues consist of revenues generated for Police Officer extra duty overtime, where
officers are contracted for services and reimbursement is made by the hiring contractor. Effective
June 2014, public safety revenue also includes reimbursement from the Muckleshoot Indian Tribe
(MIT) for a full-time dedicated Police Officer and associated expenditures. Public safety revenues
in 2015 were lower than anticipated primarily due to the fact that extra duty billable hours in
2015 were reduced by 28.1% compared to 2014.
Development services fee collections, which primarily consist of plan check fees, totaled $1.4
million for the year and exceeded budget by $720,000. Total plan check fees collected in 2015
totaled $1.1 million, compared to a budget of $550,000 and 2014 collections of $833,000. Plan
check revenues in 2015 included revenues from several commercial projects including The Villas
(Senior Living Community), the Promenade Apartment project, and the optical manufacturing
project at Costco. Some of the single family housing projects included Edgeview, Sonata Hill,
and Mountain View north and south. Of the $1.1 million in plan check revenues collected in
2015, 61.3% was attributable to commercial projects in the City and the remaining 38.7% was
predominately single family housing projects.
201420152015
Revenue Actual Budget Actual Amount Amount
General Government 113,491$ 96,500$ 79,413$ $ (34,078)(30.0)% $ (17,087)(17.7)%
Public Safety 479,866515,100479,061 (804)(0.2)%(36,039)(7.0)%
Development Services 1,101,680 680,000 1,400,292 298,612 27.1 %720,292 105.9 %
Culture & Recreation 2,219,3872,058,0802,317,351 97,964 4.4 %259,271 12.6 %
YE Total 3,914,424$ 3,349,680$ 4,276,118$ 361,694$ 9.2 % $ 926,438 27.7 %
December-2015
Charges for Services by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
13
Quarterly Financial Report Through Q4-2015
14
Quarterly Financial Report Through Q4-2015
Culture and recreation revenues collected in 2015 totaled $2.3 million and exceeded budget by
$259,000, or 12.6%, and exceeded 2014 actuals of $2.2 million. The majority of this favorable
variance to budget was due to increased revenues collected at the Auburn Golf Course for greens
fees. Green fees revenues collected in 2015 were $106,000 above budget expectations. This
favorable variance to budget was a combination of increased participation, which is the
culmination of factors including good weather, vigilant marketing efforts, as well as increased
business to the Auburn Golf Course due to other area golf courses having gone out of business.
In addition, revenue generated by the Auburn Avenue Theatre for ticket sales exceeded
expectations by $28,000, or 27.9%, which was a result of the addition of the Auburn
Community Teen Players and several fall productions that nearly sold out.
15
Quarterly Financial Report Through Q4-2015
Fines & Penalties include traffic and parking infraction penalties, criminal fines (including criminal
traffic, criminal non traffic and other criminal offenses) as well as non-court fines such as false
alarm fines. Total revenue collected in 2015 totaled $939,000, compared to a budget of
$788,000 and prior year collections of $1.2 million. Effective June 2014, the Redflex Photo
Enforcement Program was cancelled, which is the contributing factor for the significant year-over-
year decline in fines and forfeits revenue.
201420152015
Month Actual Budget Actual Amount Amount
Civil Penalties 16,984$ 15,200$ 11,287$ $ (5,696)(33.5)% $ (3,913)(25.7)%
Civil Infraction Penalties 476,207447,100495,700 19,492 4.1 %48,600 10.9 %
Redflex Photo Enforcement 383,307 0 15,285 (368,022)(96.0)%15,285 N/A %
Parking Infractions 133,676108,700141,075 7,399 5.5 %32,375 29.8 %
Criminal Traffic Misdemeanor 50,90350,60059,870 8,967 17.6 %9,270 18.3 %
Criminal Non-Traffic Fines 42,94145,50050,468 7,527 17.5 %4,968 10.9 %
Criminal Costs 47,15640,94053,211 6,055 12.8 %12,271 30.0 %
Non-Court Fines & Penalties 88,060 80,000 111,879 23,819 27.0 %31,879 39.8 %
YE Total 1,239,233$ 788,040$ 938,775$ $ (300,458)(24.2)% $ 150,735 19.1 %
December-2015
Fines & Forfeits by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
16
Quarterly Financial Report Through Q4-2015
Miscellaneous revenues primarily consist of investment earnings, income from facility rentals,
contributions & donations, and other miscellaneous income, which includes the quarterly
purchasing card (P-card) rebate monies. Total revenues collected in this category in 2015 totaled
$1.0 million and exceeded budget expectations by $297,000, or 39.6%. Rents and leases
revenue in 2015 exceeded budget by $157,000, or 27.3%, primarily due higher than anticipated
revenues generated from City owned facility rentals and increased revenue generated from golf
cart rentals at the Auburn Golf Course. These two revenue sources exceeded budget by $91,000
and $41,000 respectively. In addition, P-card rebate monies collected in 2015 exceeded budget
by $97,000.
201420152015
Month Actual Budget Actual Amount Amount
Interest & Investments 41,767$ 36,850$ 57,464$ 15,697$ 37.6 %20,614$ 55.9 %
Rents & Leases 710,705573,200729,96919,264 2.7 %156,76927.3 %
Contributions & Donations 46,85132,00039,712(7,139)(15.2)%7,71224.1 %
Other Miscellaneous Revenue 168,357107,400218,83250,475 30.0 %111,432 103.8 %
YE Total 967,680$ 749,450$ 1,045,976$ 78,296$ 8.1 %296,526$ 39.6 %
Miscellaneous Revenues by Type
December-2015
2015 vs. 2014 2015 vs. Budget
Percentage Percentage
17
Quarterly Financial Report Through Q4-2015
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. REET revenues collected in 2015 totaled $4.6
million and exceeded budget and prior year actuals by $1.6 million and $2.1 million respectively.
Real estate sales in the City of Auburn in Q4-2015 included the sale of several commercial and
warehouse businesses, multi-family complexes, the sale of large plots of land, and the sale of over
300 single family residences. REET revenues collected in 2015 exceed revenues collected in this
category in any prior year on record.
201420152015
Month Actual Budget Actual Amount Amount
Jan 119,765$ 148,800$ 125,0895,324$ 4.4 %(23,711)$ (15.9)%
Feb 208,206201,200115,287(92,919)(44.6)%(85,913)(42.7)%
Mar 118,578166,9001,394,2261,275,6481075.8 %1,227,326735.4 %
Apr 189,771 200,300 423,394233,624123.1 %223,094 111.4 %
May 243,472258,900345,489 102,017 41.9 %86,58933.4 %
Jun 236,067263,500436,101 200,033 84.7 %172,60165.5 %
Jul 305,214365,300348,74543,53114.3 %(16,555)(4.5)%
Aug 263,573295,900269,4545,8812.2 %(26,446)(8.9)%
Sep 182,829233,500228,14045,31124.8 %(5,360)(2.3)%
Oct 163,912271,100296,100132,18880.6 %25,0009.2 %
Nov 259,026348,500233,389(25,637)(9.9)%(115,111)(33.0)%
Dec 183,799246,100347,582163,78389.1 %101,48241.2 %
YE Total 2,474,212$ 3,000,000$ 4,562,995$ 2,088,783$ 84.4 %1,562,995$ 52.1 %
Percentage
2015 vs. 2014 2015 vs. Budget
Percentage
Real Estate Excise Tax Revenues
December-2015
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
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Real Estate Excise Tax
2015 YE Budget
2015 YE Actual
2014 YE Actual
18
Quarterly Financial Report Through Q4-2015
Pet Licensing
In 2015, 5,112 pet licenses were sold resulting in $147,152 in revenue. For the same period in
2014, 5,811 licenses were sold resulting in $155,790 in revenue.
2015 Budget Goal: $240,000 or more
2015 Revenue = $147,152 2014 Revenue = $155,790
2015 Licenses Sold = 5,112 2014 Licenses Sold = 5,811
0
500
1,000
1,500
2,000
2,500
$0
$2
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Pet Licensing Revenues vs Licenses Sold
2015 vs 2014
2014 License Revenue
2015 License Revenue
2014 Licenses Issued
2015 Licenses Issued
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$50
$100
$150
$200
$250
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Cumulative Pet Licensing Revenue & Licenses Issued
2015 vs 2014
2015 License Revenue
2015 License Revenue
(Budget Goal: $240,000)
2015 Licenses Issued
2014 Licenses Issued
19
Quarterly Financial Report Through Q4-2015
Street Funds
This section provides financial overview of the City’s three street funds for the fiscal period
ending December 31, 2015. The City’s three street funds include the Arterial Street Fund (Fund
102), the Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105).
Fund 102 – Arterial Street Fund
The Arterial Street Fund is a Special Revenue Fund that is funded by transportation grants, traffic
impact fees, a portion of the City’s gas tax receipts, Public Works Trust Fund loans, developer
contributions, as well as other funding sources for street capital construction projects. There are
over 30 separate street projects budgeted in this fund in 2015. Some of these projects include the
South 272nd /South 277th Street Corridor Improvement Project, the Auburn Way South (AWS) Fir
Street Southeast to Hemlock Street Southeast Project, and the AWS Corridor Safety Improvement
Project (Muckleshoot Plaza to Dogwood).
In 2015, revenues collected totaled $4.7 million and compare to collections of $3.5 million for
2014. Expenditures in 2015 totaled $6.9 million, as compared with $3.8 million spent last year.
Fund 102 - Arterial Street 2014
Summary of Sources and Uses Annual
Report Period: Through
December 2015 Budget YE Budget YE ActualYE Actual Amount
Revenues
Federal Grants 6,448,969$ 6,448,969$ 1,080,056$ 743,720$ (5,368,913)$ (83.3)%
State Grants 6,820,6586,820,6581,214,948538,924(5,605,710)(82.2)%
Motor Vehicle Fuel Tax 530,000530,000 493,808480,807 (36,192)(6.8)%
Developer Contributions 2,001,3282,001,328628,027 564(1,373,301)(68.6)%
Miscellaneous Revenue 776,356776,356420,839 15,272(355,517)(45.8)%
Other Governmental Agencies 0 0 61,520376,767 61,520 N/A
Public Works Trust Fund Loans 0 0 0 240,366 0 N/A
Operating Transfer In 3,350,1373,350,137795,2801,075,931(2,554,857)(76.3)%
Investment Income 2,000 2,000 2,670 2,252 670 33.5 %
Total Revenues 19,929,448$ 19,929,448$ 4,697,147$ 3,474,603$ (15,232,301)$ (76.4)%
Expenditures
Salary and Benefits 804,773$ 804,773$ 442,151$ 404,248$ 362,622$ 45.1 %
Services and Charges 273,600273,600273,820294,453 (220)(0.1)%
Capital Outlay 19,708,18019,708,1805,920,8032,832,80213,787,377 70.0 %
Interfund Payments for Services 71,150 71,15071,148 70,188 2 0.0 %
Debt Service Principal and Interest 218,763218,763218,761213,902 2 0.0 %
Operating Transfer Out 10,053 10,053 378 17,832 9,675 96.2 %
Total Expenditures 21,086,519$ 21,086,519$ 6,927,061$ 3,833,425$ 14,159,458$ 67.1 %
Net Change in Fund Balance (1,157,071)$ (1,157,071)$ (2,229,914)$ (358,822)$ (1,072,843)$ 92.7 %
2015 2015 YE Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 2015 2,781,100$
Net Change in Fund Balance, December 2015 (2,229,914)
Ending Fund Balance, December 2015 551,186$
2015 Budgeted Ending Fund Balance 1,624,029$
20
Quarterly Financial Report Through Q4-2015
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
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Fund 102 -Capital Project Expenditures
2015 YE Budget
2015 YE Actual
2014 YE Actual
2015 YE Budget -
$19.7M
2014 YE
Actual -
$2.8M
2015 YE
Actual -
$5.9M
21
Quarterly Financial Report Through Q4-2015
Fund 103 – Local Street Fund
The Local Street Fund is a Special Revenue Fund where the revenue from sales taxes on
construction are used for local street repairs. In 2015, the revenues in this fund exceeded budget
expectations by $698,000, or 39.8%, due to higher than anticipated sales tax revenues from
local construction projects. Expenditures in 2015 were under budget by $957,000, or 28.4%.
Projects within this fund include Pavement Patching and Overlay as well as Local Street Pavement
Reconstruction Projects.
Fund 103 - Local Street Fund 2014
Summary of Sources and Uses Annual
Report Period: Through
December 2015 Budget YE Budget YE ActualYE Actual Amount
Revenues
Sales Tax on Construction 1,600,000$ 1,600,000$ 2,296,863$ 1,753,532$ 696,863$ 43.6 %
Operating Transfer In 150,000150,000150,000150,000 0 0.0 %
Interest Earnings 2,5002,500 3,644 2,487 1,144 45.8 %
Miscellaneous Revenue 0 0 0 26,034 0 N/A %
Total Revenues 1,752,500$ 1,752,500$ 2,450,507$ 1,932,052$ 698,007$ 39.8 %
Expenditures
Salary and Benefits 128,566$ 128,566$ 114,279$ 119,671$ 14,287$ 11.1 %
Services and Charges 300 300 583 419 (283)(94.2)%
Capital Outlay 3,218,6653,218,6652,285,0741,654,656933,591 29.0 %
Interfund Payments for Services 12,47012,47012,48013,404 (10)(0.1)%
Operating Transfer Out 10,05310,053 37817,8329,675 96.2 %
Total Expenditures 3,370,054$ 3,370,054$ 2,412,794$ 1,805,981$ 957,260$ 28.4 %
Net Change in Fund Balance (1,617,554)$ (1,617,554)$ 37,713$ 126,071$ 1,655,267$ (102.3)%
2015 2015 YE Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 2015 2,042,977$
Net Change in Fund Balance, December 2015 37,713
Ending Fund Balance, December 2015 2,080,691$
2015 Budgeted Ending Fund Balance 425,424$
22
Quarterly Financial Report Through Q4-2015
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
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Fund 103 -Capital Project Expenditures
2015 YE Budget
2015 YE Actual
2014 YE Actual
2015 YE Budget -
$3.2M
2015 YE Actual -
$2.3M
2014 YE Actual
-$1.7M
23
Quarterly Financial Report Through Q4-2015
Fund 105 – Arterial Street Preservation Fund
The Arterial Street Preservation Fund is a Special Revenue Fund which is primarily funded by a
1.0% utility tax that was adopted by Council in 2008. These utility tax revenues are restricted
for arterial street repair and preservation projects. Some projects budgeted within the Arterial
Street Preservation Fund in 2015 include Pavement Patching and Overlay, the Annual Arterial
and Collector Crack Seal Project, and the Auburn Way North Preservation Project. In 2015,
revenues totaled $2.7 million as compared to a budget of $2.9 million. Expenditures in 2015
totaled $4.0 million.
Fund 105 - Arterial St. Presv. 2014
Summary of Sources and Uses Annual
Report Period: Through
December 2015 Budget YE Budget YE ActualYE Actual Amount
Revenues
City Utility Tax 578,000$ 578,000$ 607,036$ 579,928$ 29,036$ 5.0 %
Electric Utility Tax 687,100687,100646,501684,885(40,599)(5.9)%
Natural Gas Utility Tax 230,400230,400200,467227,394(29,933)(13.0)%
Cable TV Tax 177,800177,800186,934177,875 9,134 5.1 %
Telephone Utility Tax 362,200362,200332,301349,041(29,899)(8.3)%
Garbage Utility Tax (External Haulers)17,700 17,700 19,145 14,857 1,445 8.2 %
Grants 80,00080,000 59,064 3,162(20,936)(26.2)%
Developer Mitigation Fees 190,000190,000 0 0 (190,000)(100.0)%
Operating Transfer In 612,340612,340612,340 0 0 0.0 %
Interest Earnings 1,500 1,500 3,499 2,127 1,999 133.3 %
Total Revenues 2,937,040$ 2,937,040$ 2,667,287$ 2,039,270$ (269,753)$ (9.2)%
Expenditures
Salary and Benefits 82,071$ 82,071$ 218,442$ 51,635$ (136,371)$ (166.2)%
Services and Charges 0 0 0 94,432 0 N/A
Capital Outlay 5,593,2215,593,2213,796,694165,7951,796,527 32.1 %
Operating Transfer Out 95,46395,46332,78617,83262,678 65.7 %
Total Expenditures 5,770,755$ 5,770,755$ 4,047,922$ 329,694$ 1,722,833$ 29.9 %
Net Change in Fund Balance (2,833,715)$ (2,833,715)$ (1,380,634)$ 1,709,576$ 1,453,081$ (51.3)%
2015 2015 YE Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 2015 3,180,980$
Net Change in Fund Balance, December 2015 (1,380,634)
Ending Fund Balance, December 2015 1,800,346$
2015 Budgeted Ending Fund Balance 347,265$
24
Quarterly Financial Report Through Q4-2015
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
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Fund 105 -Capital Project Expenditures
2015 YE Budget
2015 YE Actual
2014 YE Actual
2015 YE Budget -
$5.6M
2014 YE Actual -
$166K
2015 YE Actual -
$3.8M
25
Quarterly Financial Report Through Q4-2015
Enterprise Funds
Detailed Working Capital and Fund Balance statements for Enterprise and Internal Service funds
can be found in the Appendices at the end of this report.
The Water Utility ended 2015 with operating income of $1,076,100 compared to operating
income of $1,757,300 in 2014. Water sales in 2015 totaled 3.50 million ccf compared to 3.36
million ccf in 2014, representing a 4% increase.
The Sewer Utility ended the year with operating income of $109,300 compared to operating
income of $181,500 in 2014. The Sewer-Metro Utility ended 2015 with net operating income of
$186,800 compared to $273,900 for the previous year.
The Stormwater Utility ended the year with $1,316,800 in operating income which compares to
operating income of $1,486,200 for the same period last year.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
$0
$200
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$1,600
$1,800
$2,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Water Revenues vs Water Sold
2015 vs 2014
2014 Water Sales ($)
2015 Water Sales ($)
2014 Water Sold (ccf)
2015 Water Sold (ccf)
26
Quarterly Financial Report Through Q4-2015
The Cemetery Fund ended the year with operating income of $19,600 compared to operating
income of $2,900 for 2014. During 2015, the number of interments at the Cemetery totaled 237
(108 burials, 129 cremations), which compares to 250 (123 burials, 127 cremations) for 2014.
$0
$20
$40
$60
$80
$100
$120
$140
$160
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Cemetery Operating Revenues & Expenditures By Month
2015 vs 2014
2015 Bud. Revenue
2015 Act. Revenue
2014 Act. Revenue
2015 Act. Expenses
$0
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$400
$600
$800
$1,000
$1,200
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Cumulative Cemetery Revenues & Expenditures
2015 vs 2014
2015 YTD Bud. Revenue
2015 YTD Act. Revenue
2014 YTD Act. Revenue
2015 YTD Act. Expenses
27
Quarterly Financial Report Through Q4-2015
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2015. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds. All funds have sufficient revenues to cover year-to-date
expenditures.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
28
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 102,163,513$ Various 0.25%
KeyBank Money Market Various 12,607,935 Various 0.00%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 115,065,116$ 0.232%
Investment Mix % of Total
State Investment Pool 88.8%Current 6-month treasury rate 0.50%
KeyBank Money Market 11.0%Current State Pool rate 0.25%
US Treasury 0.1%KeyBank Money Market 0.00%
FFCB 0.0%Blended Auburn rate 0.23%
FHLB 0.0%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
December 31, 2015
Summary
29
SALES TAX SUMMARY
DECEMBER 2015 SALES TAX DISTRIBUTIONS (FOR OCTOBER 2015 RETAIL ACTIVITY)
2014 Annual Total 2014 YTD 2015 YTD YTD 2014 Annual Total 2014 YTD 2015 YTD YTD
NAICS CONSTRUCTION (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff NAICS AUTOMOTIVE (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff
236 Construction of Buildings 866,060 866,060 1,229,166 41.9%441 Motor Vehicle and Parts Dealer 3,062,768 3,062,768 b 3,465,199 13.1%237 Heavy and Civil Construction 146,261 146,261 252,280 72.5%447 Gasoline Stations 246,636 246,636 241,336 -2.1%
238 Specialty Trade Contractors 741,211 741,211 815,416 10.0%TOTAL AUTOMOTIVE 3,309,404 3,309,404 3,706,535 12.0%
TOTAL CONSTRUCTION 1,753,532 1,753,532 2,296,863 31.0%Overall Change from Previous Year 397,130
Overall Change from Previous Year 543,331
2014 Annual Total 2014 YTD 2015 YTD YTD
2014 Annual Total 2014 YTD 2015 YTD YTD NAICS RETAIL TRADE (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff
NAICS MANUFACTURING (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff 442 Furniture and Home Furnishings 254,103 254,103 253,871 -0.1%
311 Food Manufacturing 3,220 3,220 3,973 23.4%443 Electronics and Appliances 236,955 236,955 295,127 24.5%
312 Beverage and Tobacco Products 8,257 8,257 9,323 12.9%444 Building Material and Garden 502,470 502,470 589,676 17.4%
313 Textile Mills 234 234 372 58.9%445 Food and Beverage Stores 352,552 352,552 368,411 4.5%
314 Textile Product Mills 2,970 2,970 3,039 2.3%446 Health and Personal Care Store 187,715 187,715 220,603 f 17.5%
315 Apparel Manufacturing 244 244 116 -52.3%448 Clothing and Accessories 1,008,978 1,008,978 1,079,933 7.0%
316 Leather and Allied Products 15 15 8 -47.0%451 Sporting Goods, Hobby, Books 212,015 212,015 220,168 3.8%
321 Wood Product Manufacturing 76,560 76,560 65,039 -15.0%452 General Merchandise Stores 955,479 955,479 a 988,004 j 3.4%
322 Paper Manufacturing 5,237 5,237 7,762 48.2%453 Miscellaneous Store Retailers 587,784 587,784 578,836 -1.5%
323 Printing and Related Support 44,114 44,114 59,750 35.4%454 Nonstore Retailers 381,876 381,876 394,268 3.2%324 Petroleum and Coal Products 10,293 10,293 5,394 -47.6%TOTAL RETAIL TRADE 4,679,929 4,679,929 4,988,898 6.6%
325 Chemical Manufacturing 5,397 5,397 5,508 2.0%Overall Change from Previous Year 308,969
326 Plastics and Rubber Products 9,844 9,844 9,081 -7.8%
327 Nonmetallic Mineral Products 19,801 19,801 14,514 e -26.7%
331 Primary Metal Manufacturing 1,542 1,542 1,692 9.7%2014 Annual Total 2014 YTD 2015 YTD YTD
332 Fabricated Metal Product Manuf 33,900 33,900 37,819 11.6%NAICS SERVICES (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff
333 Machinery Manufacturing 24,491 24,491 21,693 -11.4%51*Information 486,856 486,856 526,003 d, i 8.0%334 Computer and Electronic Product 18,265 18,265 8,388 -54.1%52*Finance and Insurance 87,574 87,574 95,471 9.0%335 Electric Equipment, Appliances 1,179 1,179 827 -29.8%53*Real Estate, Rental, Leasing 314,900 314,900 334,095 6.1%336 Transportation Equipment Man 837,227 837,227 536,513 -35.9%541 Professional, Scientific, Tech 216,494 216,494 195,478 -9.7%337 Furniture and Related Products 21,248 21,248 20,389 -4.0%551 Company Management 43 43 9,230 21420.9%339 Miscellaneous Manufacturing 39,052 39,052 50,358 29.0%56*Admin. Supp., Remed Svcs 350,417 350,417 373,781 6.7%TOTAL MANUFACTURING 1,163,090 1,163,090 861,555 -25.9%611 Educational Services 49,123 49,123 60,189 g 22.5%
Overall Change from Previous Year -301,534 62*Health Care Social Assistance 66,359 66,359 81,684 23.1%
71*Arts and Entertainment 157,908 157,908 207,717 k 31.5%
72*Accommodation and Food Svcs 1,066,580 1,066,580 1,159,033 8.7%2014 Annual Total 2014 YTD 2015 YTD YTD 81*Other Services 425,896 425,896 475,505 h 11.6%NAICS TRANSPORTATION AND WAREHOUSING (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff 92*Public Administration 99,676 99,676 127,364 27.8%
481 Air Transportation 0 0 0 N/A TOTAL SERVICES 3,321,827 3,321,827 3,645,551 9.7%
482 Rail Transportation 8,069 8,069 10,457 29.6%Overall Change from Previous Year 323,724484Truck Transportation 4,740 4,740 7,590 60.1%485 Transit and Ground Passengers 4 4 209 5410.6%488 Transportation Support 26,786 26,786 36,669 36.9%2014 Annual Total 2014 YTD 2015 YTD YTD
491 Postal Service 691 691 259 -62.5%NAICS MISCELLANEOUS (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff
492 Couriers and Messengers 672 672 1 -99.8%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 29,718 29,718 c 10,487 -64.7%111-115 Agriculture, Forestry, Fishing 7,488 7,488 4,510 -39.8%
TOTAL TRANSPORTATION 70,679 70,679 65,671 -7.1%211-221 Mining & Utilities 28,687 28,687 27,456 -4.3%
Overall Change from Previous Year -5,008 999 Unclassifiable Establishments 83,442 83,442 39,581 -52.6%
TOTAL SERVICES 119,617 119,617 71,548 -40.2%
Overall Change from Previous Year -48,0692014 Annual Total 2014 YTD 2015 YTD YTD
NAICS WHOLESALE TRADE (Nov '13-Oct '14)(Nov '13 - Oct '14)(Nov '14 - Oct '15)% Diff
423 Wholesale Trade, Durable Goods 1,024,016 1,024,016 1,010,730 l -1.3%GRAND TOTAL 15,622,791 15,622,791 16,865,540
424 Wholesale Trade, Nondurable 178,054 178,054 216,303 21.5%Overall Change from Previous Year 1,242,749 8.0%
425 Wholesale Electronic Markets 2,643 2,643 1,885 -28.7%TOTAL WHOLESALE 1,204,714 1,204,714 1,228,919 2.0%
Overall Change from Previous Year 24,205
a. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2014 (adjustment: -$45,145).
b. WA State Dept of Revenue audit adjustment to sales tax returns for period April 2014 (adjustment: $10,242).c. WA State Dept of Revenue audit adjustment to sales tax returns for period August 2014 (adjustment: $25,146).d. WA State Dept of Revenue audit adjustment to sales returns for period November 2014 (adjustment: $5,167).e. WA State Dept of Revenue audit adjustment to sales tax returns for period December 2014 (adjustment: -$2,382).f. WA State Dept of Revenue audit adjustment to sales tax returns for period January 2015 (adjustment: $4,464).g. WA State Dept of Revenue audit adjustment to sales tax returns for period February 2015 (adjustment: $11,845).h. Reported correction to prior sales tax returns posted to February 2015 (adjustment: -$9,355).i. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2015 (adjustment: -$17,839).j. Reported correction to sales tax returns posted to April 2015 (adjustment: -$43,875).k. WA State Dept of Revenue audit adjustment to sales tax returns for period of August 2015 (adjustment: $5,251).l. WA State Dept of Revenue audit adjustment to sales tax returns for period of September 2015 (adjustment: -$5,356).
12/22/15
Prepared by Auburn Finance Department 30
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 14,185,923$ 8,007,103$ -$ 9,241,198$ 13,756,237$ 17,078$ 1,084,467$ -$ 815,661$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 3,447,288 5,287,505 3,473,028
Sewer Metro Service Revenue - - 16,221,329 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 712,420 - - - 91,745 119,148 -
TOTAL OPERATING REVENUES 14,185,923$ 8,007,103$ 16,221,329$ 9,241,198$ 13,756,237$ 729,498$ 1,084,467$ -$ 815,661$ 3,539,033$ 5,406,653$ 3,473,028$
OPERATING EXPENSES
Salaries & Wages 2,467,207$ 1,614,545$ -$ 2,381,521$ 399,108$ 26,448$ 423,213$ -$ 78,371$ 597,988$ 1,487,170$ 599,963$
Benefits 1,145,624 749,925 - 1,090,154 186,043 9,680 203,153 - 165,215 310,230 631,578 310,430
Supplies 263,798 95,098 - 62,242 24,031 4,818 187,822 - - 114,066 377,683 869,824
Other Service Charges 5,007,290 2,341,731 - 1,325,987 1,205,127 448,450 134,410 125,131 234,745 1,461,849 2,079,167 310,471
Intergovernmental Services - 4,637 - 64,239 382,544 - - - - - - -
Waste Management Payments - - - - 10,573,843 - - - - - - -
Sewer Metro Services - - 16,034,521 - - - - - - - - -
Interfund Operating Rentals & Supplies 1,291,240 971,733 - 1,337,047 105,384 - 65,460 - - 114,816 162,156 217,031
Other Expenses - - - - - - - - - - - -
Depreciation & Amortization 2,934,694 2,120,150 - 1,663,208 18,819 468,031 50,797 - - - 624,001 927,965
TOTAL OPERATING EXPENSES 13,109,852$ 7,897,818$ 16,034,521$ 7,924,397$ 12,894,899$ 957,427$ 1,064,854$ 125,131$ 478,331$ 2,598,949$ 5,361,755$ 3,235,683$
OPERATING INCOME (LOSS)1,076,071$ 109,285$ 186,808$ 1,316,801$ 861,338$ (227,930)$ 19,613$ (125,131)$ 337,330$ 940,084$ 44,897$ 237,345$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 20,371$ 19,488$ 1,630$ 25,214$ 3,908$ 1,238$ 607$ 1,662$ 899$ 3,738$ 5,474$ 8,345$
Contributions - - - 1,059,017 54,603 20,021 150 - - - - 816
Other Non-Operating Revenue 241,239 90,236 - 391,493 280 (4,552) 2 - - 56 1,526 108,724
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (30,466)
Debt Service Interest (49,854) (16,217) - - - (36,896) (22,267) - - - - (2,951)
Other Non-Operating Expense - - - (269,243) - - - - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 211,756$ 93,507$ 1,630$ 1,216,481$ 58,791$ (20,190)$ (21,509)$ 1,662$ 899$ 3,794$ 7,000$ 84,468$
PLUS ITEMS NOT AFFECTING WORKING CAPITAL
Depreciation 2,934,694$ 2,120,150$ -$ 1,663,208$ 18,819$ 468,031$ 50,797$ -$ -$ -$ 624,001$ 927,965$
NET WORKING CAPITAL FROM OPERATIONS 4,222,521$ 2,322,941$ 188,438$ 4,196,490$ 938,948$ 219,912$ 48,900$ (123,468)$ 338,229$ 943,879$ 675,898$ 1,249,778$
Increase In Contributions - System Development 566,632$ 427,451$ -$ 406,699$ -$ -$ -$ -$ -$ -$ -$ -$
Increase In Contributions - Area Assessments 500 10,391 - - - - - - - - - -
Increase In Contributions - Other Governments - - - - - - - - - - - -
Increase In Contributions - Other Funds - - - - - - - - - - - -
Increase In Contributions - FAA - - - - - 1,294 - - - - - -
Proceeds of Debt Activity 850,402 - - - - - - - - - - 204,710
Operating Transfers In - - - 526,059 - - 30,000 - - - 102,807 106,856
Increase In Restricted Net Assets 20,843 - - - - 18,492 - - - - - -
Decrease In Long-Term Receivables - 45,000 - - - - - - - - - -
Increase In Deferred Credits - - - - - 9,154 - - - - - -
TOTAL RESOURCES OTHER THAN OPERATIONS 1,438,377$ 482,842$ -$ 932,758$ -$ 28,939$ 30,000$ -$ -$ -$ 102,807$ 311,566$
Net Change In Restricted Net Assets 1,704,739$ 424,553$ -$ 796,965$ -$ (117,186)$ (749)$ -$ -$ -$ -$ (59,919)$
Increase In Fixed Assets - Salaries 299,756 135,285 - 285,966 - - - - - - - -
Increase In Fixed Assets - Benefits 129,155 58,570 - 124,779 - - - - - - - -
Increase In Fixed Assets - Site Improvements 49,836 - - - - - 17,301 - - - - -
Increase In Fixed Assets - Land - - - 250,000 - - - - - - - -
Increase In Fixed Assets - Equipment 25,902 - - - - - - - - - 619,937 1,398,683
Increase In Fixed Assets - Construction 7,273,969 2,134,703 - 5,680,303 - 348,270 - - - - - 8,928
Increase In Fixed Assets - Other - - - - - - - - - - - -
Operating Transfers Out 203,642 190,371 - 137,311 - - - - - 659,426 - 237,266
Debt Service Principal 522,831 288,262 - - - 135,000 749 - - - - 19,119
Interfund Loan Repayment - - - - - 16,605 - - - - - -
TOTAL USES OTHER THAN OPERATIONS 10,209,830$ 3,231,744$ -$ 7,275,325$ -$ 382,689$ 17,301$ -$ -$ 659,426$ 619,937$ 1,604,078$
NET CHANGE IN WORKING CAPITAL (4,548,932)$ (425,961)$ 188,438$ (2,146,077)$ 938,948$ (133,838)$ 61,599$ (123,468)$ 338,229$ 284,453$ 158,769$ (42,733)$
BEGINNING WORKING CAPITAL - January 1, 2015 1 14,027,406 13,346,282 2,100,400 16,051,080 2,491,724 756,938 294,547 1,654,057 440,004 2,194,912 3,543,327 5,844,690
ENDING WORKING CAPITAL - December 31, 2015 9,478,474 12,920,321 2,288,838 13,905,004 3,430,672 623,100 356,147 1,530,588 778,233 2,479,364 3,702,095 5,801,957
NET CHANGE IN WORKING CAPITAL (4,548,932)$ (425,961)$ 188,438$ (2,146,077)$ 938,948$ (133,838)$ 61,599$ (123,468)$ 338,229$ 284,453$ 158,769$ (42,733)$
1 The Airport Fund's Beginning Working Capital has been restated reflecting a prior period adjustment of $200,000 as the result of a reclassification of the Airport's interfund loan.
The following table presents the Working Capital Statement for each of the City's Enterprise and Internal Service funds. Working Capital is generally defined as the difference between current assets and current liabilities.
WORKING CAPITAL ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
31
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 14,185,923$ 8,007,103$ -$ 9,241,198$ 13,756,237$ 17,078$ 1,084,467$ -$ 815,661$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 3,447,288 5,287,505 3,473,028
Sewer Metro Service Revenue - - 16,221,329 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 712,420 - - - 91,745 119,148 -
TOTAL OPERATING REVENUES 14,185,923$ 8,007,103$ 16,221,329$ 9,241,198$ 13,756,237$ 729,498$ 1,084,467$ -$ 815,661$ 3,539,033$ 5,406,653$ 3,473,028$
OPERATING EXPENSES
Administration 2,888,369$ 2,217,065$ -$ 3,241,256$ 678,200$ 479,106$ 264,115$ 125,131$ -$ -$ -$ 752,477$
Operations & Maintenance 7,286,789 3,560,604 - 3,019,934 1,624,037 10,290 749,942 - 478,331 2,598,949 4,737,754 1,555,242
Waste Management Payments - - - - 10,573,843 - - - - - - -
Sewer Metro Services - - 16,034,521 - - - - - - - - -
Depreciation & Amortization 2,934,694 2,120,150 - 1,663,208 18,819 468,031 50,797 - - - 624,001 927,965
TOTAL OPERATING EXPENSES 13,109,852$ 7,897,818$ 16,034,521$ 7,924,397$ 12,894,899$ 957,427$ 1,064,854$ 125,131$ 478,331$ 2,598,949$ 5,361,755$ 3,235,683$
OPERATING INCOME (LOSS)1,076,071$ 109,285$ 186,808$ 1,316,801$ 861,338$ (227,930)$ 19,613$ (125,131)$ 337,330$ 940,084$ 44,897$ 237,345$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 20,371$ 19,488$ 1,630$ 25,214$ 3,908$ 1,238$ 607$ 1,662$ 899$ 3,738$ 5,474$ 8,345$
Other Non-Operating Revenue 241,239 90,236 - 1,450,510 54,883 15,469 152 - - 56 1,526 109,541
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (30,466)
Other Non-Operating Expense (49,854) (16,217) - (269,243) - (36,896) (22,267) - - - - (2,951)
TOTAL NON-OPERATING REVENUES & EXPENSES 211,756$ 93,507$ 1,630$ 1,216,481$ 58,791$ (20,190)$ (21,509)$ 1,662$ 899$ 3,794$ 7,000$ 84,468$
1,287,826$ 202,791$ 188,438$ 2,533,282$ 920,129$ (248,119)$ (1,896)$ (123,468)$ 338,229$ 943,879$ 51,897$ 321,813$
Contributions 567,132$ 437,842$ -$ 406,699$ -$ 1,294$ -$ -$ -$ -$ -$ -$
Transfers In - - - 526,059 - - 30,000 - - - 102,807 106,856
Transfers Out (203,642) (190,371) - (137,311) - - - - - (659,426) - (237,266)
TOTAL CONTRIBUTIONS & TRANSFERS 363,490$ 247,471$ -$ 795,447$ -$ 1,294$ 30,000$ -$ -$ (659,426)$ 102,807$ (130,411)$
CHANGE IN FUND BALANCE 1,651,317$ 450,262$ 188,438$ 3,328,729$ 920,129$ (246,826)$ 28,104$ (123,468)$ 338,229$ 284,453$ 154,705$ 191,403$
BEGINNING FUND BALANCE - January 1, 2015 71,320,494$ 78,284,418$ 2,100,400$ 55,862,809$ 2,560,449$ 9,662,547$ 870,261$ 1,654,057$ 434,859$ 2,152,736$ 4,826,830$ 10,864,439$
ENDING FUND BALANCE - December 31, 2015 72,971,810$ 78,734,680$ 2,288,838$ 59,191,538$ 3,480,578$ 9,415,721$ 898,365$ 1,530,588$ 773,088$ 2,437,188$ 4,981,535$ 11,055,841$
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2015 revenues and expenditures by fund.
FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
32