HomeMy WebLinkAboutQ2 2016 Financial ReportOverview
AGENDA BILL APPROVAL FORM Agenda Subject: 2nd Quarter 2016 Financial Report Date: August 23, 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 second quarter status report is based on financial data available as of July 25, 2016 for the period ending June 30, 2016. Sales
tax information represents business activity that occurred through April 2016. 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. Through June 2016, General Fund revenues totaled $32.5 million compared to a budget of $30.3 million
and were $2.2 million higher than the revenues collected for the same period in 2015. Notable variances to budget in the second quarter of 2016 include: • General Fund sales tax revenues
totaled $7.3 million, exceeding budget by $16,000 or 0.2% and exceeding 2015 collections by $221,000. Receipts to date include a one-time payment of over $100,000 and so the trend is
unfavorable. The areas of significant increase from 2015 were primarily in the service and transportation sectors, with significant decreases in the manufacturing and retail trade sectors.
• The Other Taxes category performed better than budget through Q2-2016. Collections in criminal justice sales tax revenues exceeded budget by $114,000, or 13.8%. City utility tax revenues
were above budget by $156,000 and electric and natural gas tax revenues were above budget by $157,000 and $68,000, respectively. These revenues were somewhat offset by an unfavorable
variance in telephone tax collections of $67,000. • Development services fees through June totaled $616,000 and exceeded budget by $248,000. The increased revenues were predominantly
attributable to plan check revenues, which year-to-date have already generated 82% of budgeted annual revenue. • Other revenues exceeded the year-to-date budget through Q2-2016 by $251,000,
or 51.7%, and exceeded Q2-2015 revenue in this category by $102,000, primarily due to increase parking revenues, facility rental revenues, and purchase card rebates. 1
Agenda Subject: 2nd Quarter 2016 Financial Report Date: 8/23/2016 General Fund expenditures through June totaled $29.2 million as compared with a budget of $33.4 million. This represents
a 12.6% underspend compared to budget. Through the second quarter of 2016, 2,342 pet licenses have been sold resulting in $66,645 in revenue. For the same period in 2015, 2,563 licenses
were sold resulting in $73,605 in revenue. 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 Q2-2016, Arterial Street fund revenues collected
totaled $1.9 million as compared to collections of $1.1 million for the same period in 2015; expenditures totaled $1.5 million as compared to $1.8 million spent through second quarter
last year. Local Street fund revenues exceeded budget expectations for the first half of the year by $299,000, or 33.7%, due to higher than anticipated sales tax revenues from local
construction projects; expenditures were $276,000 as compared with a budget of $312,000. Lastly, Arterial Street Preservation fund revenues totaled $1.1 million as compared to a budget
of $1.3 million, while expenditures totaled $354,000. Proprietary Funds: The City’s seven proprietary funds account for operations with revenues primarily provided from user fees, charges
or contracts for services. At the end of Q2-2016, the Water fund had net operating income of $1.9 million compared to operating income of $1.4 million at the end of Q2-2015. The Sewer
fund ended the period with net income of $1.2 million compared to income of $0.9 million in the previous year. The Sewer-Metro Utility ended the quarter with net operating income of
$192,000 as compared to an operating loss of $173,000 in 2015. Lastly, the Stormwater Utility ended the quarter with operating income of $1.4 million compared to operating income of
$2.7 million for the same period in 2015. The Cemetery ended Q2-2016 with net operating income of $178,000 compared to operating income of $94,000 for the same period in 2015. 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 quarter was $114.7
million, and compares to $118.3 million at the end of Q2-2015. Staff: Coleman Meeting Date: August 29, 2016 Item Number: 2
Quarterly Financial Report Through Q2-2016 YEAR-TO-DATE GENERAL FUND EXPENDITURES BY DEPARTMENT (through June 2016) YEAR-TO-DATE GENERAL FUND REVENUES (through June 2016) GENERAL FUND
SUMMARY $0 $5 $10 $15 Total Revenues Total Expenses Millions Property Taxes Sales Taxes Other Taxes Intergovernmental (Grants, etc.) Development Service Fees Culture & Recreation Other
Fees & Charges Other Revenues Personnel Supplies & Services Intergovernmental Other Expenses Revenues Expenditures $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 $20.0 Millions
YTD Budget YTD Actuals (Favorable) YTD Actuals (Unfavorable) $30.6 $32.5 $33.9 $29.2 $0 $10 $20 $30 $40 Total Revenues Total Expenses Millions Council & Mayor Administrative Services
Municipal Court & Probation Human Resources Finance City Attorney Community Development Jail -SCORE Police Public Works Parks, Arts & Recreation Streets Non-Departmental$0 $2 $4 $6 $8
$10 $12 Millions YTD Budget YTD Actuals (Favorable) YTD Actuals (Unfavorable) 3
Quarterly Financial Report Through Q2-2016 General Fund 2015 Summary of Sources and Uses Annual YTD YTD YTD Budget Budget Actual Actual Amount Beginning Fund Balance $ 15,817,653 Operating
Revenues Property Tax $ 17,733,500 $ 9,364,100 $ 9,448,363 $ 9,082,406 $ 84,263 0.9 % Sales Tax 14,572,000 7,286,000 7,301,456 7,080,481 15,456 0.2 % Sales Tax -Annexation Credit 1,912,000
914,000 988,193 886,979 74,193 8.1 % Criminal Justice Sales Tax 1,747,000 831,400 945,829 861,400 114,429 13.8 % Brokered Natural Gas Tax 282,000 179,900 160,140 159,349 (19,760) (11.0)
% City Utilities Tax 3,521,200 1,682,400 1,838,188 1,719,324 155,788 9.3 % Admissions Tax 333,600 133,300 142,414 135,674 9,114 6.8 % Electric Tax 3,297,700 1,758,600 1,915,419 1,648,480
156,819 8.9 % Natural Gas Tax 852,000 575,900 644,107 659,020 68,207 11.8 % Cable TV Franchise Fee 906,700 449,900 487,057 455,052 37,157 8.3 % Cable TV Franchise Fee -Capital 64,000
32,800 33,238 36,324 438 1.3 % Telephone Tax 1,620,000 835,000 767,726 871,239 (67,274) (8.1) % Garbage Tax (external) 106,000 52,980 61,778 54,854 8,798 16.6 % Leasehold Excise Tax
33,000 16,700 179,245 35,020 162,545 973.3 % Gambling Excise Tax 334,400 129,700 309,615 82,550 179,915 138.7 % Taxes subtotal $ 47,315,100 $ 24,242,680 $ 25,222,768 $ 23,768,153 $ 980,088
4.0 % Business License Fees $ 310,000 $ 137,000 $ 105,695 $ 160,817 $ (31,305) (22.9) % Building Permits 1,190,000 647,800 840,170 645,220 192,370 29.7 % Other Licenses & Permits 444,600
216,300 270,330 246,230 54,030 25.0 % Intergovernmental (Grants, etc.) 5,627,893 2,654,934 2,648,748 2,602,995 (6,186) (0.2) % Charges for Services: General Government Services 67,200
37,600 46,237 43,704 8,637 23.0 % Public Safety 520,300 260,149 342,281 287,517 82,132 31.6 % Development Services Fees 680,600 368,100 615,814 715,082 247,714 67.3 % Culture and Recreation
2,105,080 1,089,000 1,251,074 1,236,235 162,074 14.9 % Fines and Forfeits 796,180 418,700 449,907 485,978 31,207 7.5 % Fees/Charges/Fines subtotal $ 11,741,853 $ 5,829,583 $ 6,570,256
$ 6,423,779 $ 740,673 12.7 % 146,477 Interests and Other Earnings $ 35,200 $ 15,000 $ 54,747 $ 23,497 $ 39,747 265.0 % Rents, Leases and Concessions 630,600 294,500 373,158 301,118 78,658
26.7 % Contributions and Donations 32,000 17,300 11,818 20,852 (5,482) (31.7) % Other Miscellaneous 157,800 70,000 160,111 102,512 90,111 128.7 % Transfers In 159,300 76,000 99,000 76,000
23,000 30.3 % Insurance Recoveries -Capital & Operating 25,000 12,600 37,572 110,458 24,972 198.2 % Other Revenues subtotal $ 1,039,900 $ 485,400 $ 736,406 $ 634,438 $ 251,006 51.7 %
Total Operating Revenues $ 60,096,853 $ 30,557,663 $ 32,529,429 $ 30,826,369 $ 1,971,766 6.5 % Operating Expenditures Council & Mayor $ 976,866 $ 487,900 $ 495,405 $ 446,739 $ (7,505)
(1.5) % Administration 2,544,236 1,163,000 986,476 857,741 176,524 15.2 % Municipal Court & Probation 2,355,889 447,000 314,914 272,076 132,086 29.5 % Human Resources 1,406,554 688,400
612,047 510,844 76,353 11.1 % Finance 1,300,773 654,000 589,442 623,422 64,558 9.9 % City Attorney 2,195,190 1,048,500 937,549 912,293 110,951 10.6 % Community Development 4,656,841
2,309,300 2,027,342 1,919,180 281,958 12.2 % Jail -SCORE 5,583,542 2,791,771 2,009,736 1,829,432 782,035 28.0 % Police 23,794,252 11,664,900 11,463,766 10,811,956 201,134 1.7 % Public
Works 2,811,835 1,391,400 1,518,788 1,326,774 (127,388) (9.2) % Parks, Arts & Recreation 11,584,205 5,738,300 5,452,246 5,351,703 286,054 5.0 % Streets 3,466,563 1,531,900 1,447,978
1,289,104 83,922 5.5 % Non-Departmental 5,102,169 3,471,775 1,313,029 2,298,317 2,158,747 62.2 % Total Operating Expenditures $ 67,778,915 $ 33,388,146 $ 29,168,718 $ 28,449,580 $ 4,219,428
12.6 % 2016 2016 YTD Budget vs. Actual Favorable (Unfavorable) Percent 4
Quarterly Financial Report Through Q2-2016 Executive Summary This Executive Summary provides an overview of the City’s overall financial position for the fiscal period ending June 30,
2016, reflecting financial data available as of July 25, 2016. Through June 2016, General Fund revenues totaled $32.5 million compared to a budget of $30.6 million, and were $2.2 million
higher than the revenues collected during the first half of 2015. Some notable variances to budget year-to-date include: • General Fund sales tax revenues totaled $7.3 million, exceeding
budget by $16,000 or 0.2% and exceeding 2015 collections by $221,000. Receipts to date include a one-time payment of over $100,000 and so the trend is unfavorable. Staff will continue
to closely monitor this key revenue source. • The Other Taxes category performed better than budget through Q2-2016. Collections in criminal justice sales tax revenues exceeded budget
by $114,000, or 13.8%. City utility tax revenues were above budget by $156,000 and electric and natural gas tax revenues were above budget by $157,000 and $68,000, respectively. These
revenues were somewhat offset by an unfavorable variance in telephone tax collections of $67,000. • Leasehold excise taxes show a large favorable variance compared to budget. This is
due to an unbudgeted payment from King County to the City for $139,500 in May 2016, resulting from a determination by the Washington Department of Revenue. In essence, while tribally-owned
real estate is exempt from property tax, a parcel’s occupant (tenant or lessee) may be subject to leasehold excise tax. Based on a Memorandum of Understanding between the Muckleshoot
Indian Tribe and King County, King County distributed the City’s portion of payment for the Emerald Downs property, owned by the Muckleshoot Indian Tribe. The Memorandum is legally binding
only for 2016; future payments will be negotiated separately. This payment in lieu of taxes was categorized as leasehold excise tax for the purposes of this report. • Gambling excise
tax revenues were above budget by $180,000. The favorable variance in gambling excise tax was due to a balloon payment on promissory notes for prior years’ unpaid taxes from Iron Horse
Casino. The budget for these revenues was increased in Budget Amendment #5, and is expected to balance by year end. • Development services fees through June totaled $616,000 and exceeded
budget by $248,000. The increased revenues were predominately attributable to plan check revenues, which year-to-date have already generated 82.0% of budgeted annual revenue. • Culture
and recreation revenues year-to-date exceeded budget by $162,000, or 14.9%. Revenue sources with significant increases compared to Q2-2015 include Auburn Avenue Theater ticket sales,
the Cultural Arts Program, and recreational classes which combined for a total $145,000 favorable variance from the same period the prior year. 5
Quarterly Financial Report Through Q2-2016 • The Other Revenues category exceeded the year-to-date budget through Q2-2016 by $251,000, or 51.7%, and exceed 2015 year-to-date revenue
in this category by $102,000. This was partially due to increased revenue collected for parking lot fees, which directly relate to a new parking lot and changes to parking rates. Additionally,
facility rental revenues have increased over the prior year, and the City continues to receive higher than anticipated revenues from purchase-card rebates. General Fund expenditures
through the first half of 2016 totaled $29.2 million as compared to a budget of $33.4 million, representing 12.6% less than budget. Salary and benefits charges to the Public Works Department
exceeded year-to-date budget by $127,000, or 9.2%, due to the timing of work on capital projects. When working on capital projects, Engineering staff in the department charge time to
capital funds. However, public works projects are often unfeasible during portions the early months of the year due to inclement weather, during which time salaries and wages that would
normally be charged to projects are instead charged to the General Fund. This is anticipated to balance by the end of the year. Year-to-date General Fund expenditures ended the period
$719,000, or 2.5%, higher than the same period last year. Salary and benefit costs increased by $826,000, or 5.1%, from the first half of last year due mainly to increased costs associated
with labor contracts and pension benefits. $30.6 M$33.4 M $32.5 M $29.2 M $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 Revenues Expenditures $ Millions General Fund 2016 Revenues
vs. Expenditures 2016 Actual 2016 Budget 6
Quarterly Financial Report Through Q2-2016 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 through Q2-2016 totaled $9,448,000, which is 1% or $84,000
above budget expectations. The property tax collection through Q2-2016 exceeded collections through the same period last year by $354,000, or 4.3%. 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. 7
Quarterly Financial Report Through Q2-2016 Sales tax collections year to date total $8.3 million, of which $7.3 million was distributed to the General Fund and $0.9 million was distributed
to the Local Street Fund (SOS) program.* Through June 2016, total sales tax revenue distributions to the General Fund exceeded budget expectations by $16,000, or 0.2%. Receipts to date
include a one-time payment of $110,000 in the “Other Services” category and so the trend is unfavorable. The areas of significant increase from 2015 were primarily in the service and
transportation and warehousing sectors, with significant decreases in the manufacturing and retail trade sectors. * Beginning in 2013, Local Street Fund (Fund 103) street repairs have
been funded from sales taxes on construction. The total amount transferred year-to-date through Q2-2016 was $1,033,228. The graphic above presents sales taxes under the current policy.
$0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Millions Sales & Use Tax (Net of Revenue from Construction) 2016 budget 2016 actual to date
8
Quarterly Financial Report Through Q2-2016 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. Total sales tax revenue collected through Q2-2016 exceeded prior year collections by $221,000, or 3.1%. The business sectors showing the largest increase in
revenues compared to last year were the service, transportation and warehousing, and construction industries. Sales tax revenue on construction, which is transferred to the Local Street
Fund (Fund 103) for local street repair and maintenance, totaled $509,000, which is $31,000 higher than the same period last year. Year-to-date revenues exceed budgeted revenue by $295,000.
2015 2016 Component Group Actual Actual Amount Construction $ 996,884 $ 1,033,228 $ 36,344 3.6 % Manufacturing 436,192 419,006 (17,186) (3.9) % Transportation & Warehousing 28,097 46,904
18,807 66.9 % Wholesale Trade 609,203 603,496 (5,707) (0.9) % Automotive 1,778,094 1,780,400 2,306 0.1 % Retail Trade 2,483,952 2,436,545 (47,407) (1.9) % Services 1,728,219 2,037,369
309,150 17.9 % Miscellaneous 30,968 -17,289 (48,257) (155.8) % YTD Total $ 8,091,609 $ 8,339,659 $ 248,050 3.1 % Change from 2015 June 2016 Comparison of Sales Tax Collections by SIC
Group Percentage 9
Quarterly Financial Report Through Q2-2016 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 through Q2-2016 totaled $5.2 million and exceeded year-to-date budget by $322,000 or 6.6%. Favorable variances in City
interfund utility tax, Electric tax, Natural Gas tax and Solid Waste tax revenues more than offset lower than expected collections from the Telecommunication industry. Budget Amendment
#5 reduced telephone tax revenue by $200,000. 2015 2016 2016 Utility Tax Type Actual Budget Actual Amount Amount City Interfund Utility Taxes $ 1,719,324 $ 1,682,400 $ 1,838,188 $ 118,864
6.9 % $ 155,788 9.3 % Electric 1,648,480 1,758,600 1,915,419 266,939 16.2 % 156,819 8.9 % Natural Gas 659,020 575,900 644,107 (14,913) (2.3) % 68,207 11.8 % Telephone 871,239 835,000
767,726 (103,513) (11.9) % (67,274) (8.1) % Solid Waste (external) 54,854 52,980 61,778 6,923 12.6 % 8,798 16.6 % YTD Total $ 4,952,918 $ 4,904,880 $ 5,227,218 $ 274,300 5.5 % $ 322,338
6.6 % June 2016 Utility Tax by Type 2015 vs. 2016 2016 vs. Budget Percentage Percentage 10
Quarterly Financial Report Through Q2-2016 Cable TV Franchise Fees, which are collected quarterly, totaled $241,000 for Q2-2016. Year-to-date, revenues exceed the budget of $450,000
by $37,000, or 8.3%. 11
Quarterly Financial Report Through Q2-2016 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 through June totaled $840,,000, compared to a year-to-date
budget of $648,000. Building permits issued through June total 436, and compares to 385 issued during the same period in 2015. 12
Quarterly Financial Report Through Q2-2016 Business license revenues collected through June totaled $105,000 compared to a budget of $137,000; these revenues were below budget by $31,000
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. Year-to-date business license revenues are 22.9% lower than the same period in 2015. Again, this variance is largely
due to the timing of collections and is expected to be at budget by year end. 13
Quarterly Financial Report Through Q2-2016 Intergovernmental revenues include Grants (Direct & Indirect Federal, State and Local), compact revenue from the Muckleshoot Indian Tribe (MIT),
intergovernmental, and state shared revenues. Collections to date totaled $2.6 million, which reflects budget expectations. Favorable variances in Motor Vehicle Fuel Tax revenue and
Liquor Excise revenue more than offset the reduced revenues received in Federal grant monies and Streamlined Sales Tax. During the state’s 2015-16 fiscal year budget cycle, the City
of Auburn did not qualify for Criminal Justice High Crime revenues because the City’s crime rate for the prior reporting period did not exceed the statewide average. Therefore, the City
of Auburn did not receive these distributions for reporting periods Q3-2015 through Q2-2016. Effective for the state’s 2016-17 fiscal year (July 1, 2016 through June 30, 2017), the City
of Auburn again qualifies for this distribution. Revenues for the remaining two quarters of 2016 will be reflected in the associated quarterly financial reports. 2015 2016 2016 Revenue
Actual Budget Actual Amount Amount Federal Grants $ 67,622 $ 107,300 $ 95,083 $ 27,461 40.6 % $ (12,217) (11.4) % State Grants 118,572 83,900 80,896 (37,676) (31.8) % (3,004) (3.6) %
Muckleshoot Casino Emerg. 296,987 315,000 324,419 27,433 9.2 % 9,419 3.0 % Intergovernmental Service 8,556 4,679 0 (8,556) (100.0) % (4,679) (100.0) % State Shared Revenues: #DIV/0!
## #DIV/0! Streamlined Sales Tax 980,842 1,005,500 962,037 (18,805) (1.9) % (43,463) (4.3) % Motor Vehicle Fuel Tax 495,526 503,200 538,381 42,855 8.6 % 35,181 7.0 % Criminal Justice
-High Crime 96,509 48,000 0 (96,509) (100.0) % (48,000) (100.0) % Criminal Justice -Population 9,742 8,800 10,151 409 4.2 % 1,351 15.4 % Criminal Justice -Special Prog. 35,793 33,200
37,115 1,322 3.7 % 3,915 11.8 % Marijuana Enforcement 0 9,800 9,757 9,757 #DIV/0! ## (43) (0.4) % State DUI 6,560 7,300 5,907 (653) (9.9) % (1,393) (19.1) % Fire Insurance Tax 75,702
70,000 76,569 867 1.1 % 6,569 9.4 % Liquor Excise 83,566 151,305 180,280 96,714 115.7 % 28,975 19.1 % Liquor Profit 327,019 316,750 325,653 (1,366) (0.4) % 8,903 2.8 % Total State Shared:
2,111,259 2,153,855 2,145,849 34,590 1.6 % (8,006) (0.4) % YTD Total $ 2,602,995 $ 2,664,734 $ 2,648,748 $ 45,752 1.8 % $ (15,986) (0.6) % June 2016 Intergovernmental 2016 vs. 2015 Actual
2016 vs. Budget % Change % Change 14
Quarterly Financial Report Through Q2-2016 Charges for Services consist of general governmental services, public safety, development service fees and cultural & recreation fees. Overall,
charges for services collected through Q2-2016 totaled $2.3 million compared to a budget of $1.8 million. Total revenues collected thus far exceed budget by $500,000, or 28.5%. General
governmental revenues through Q2-2016 totaled $46,000 compared to a budget of $38,000. Budget expectations for these revenues were revised from the prior year due to the fact that the
City no longer provides services to the City of Algona; therefore the City does not receive reimbursement for services. Public safety revenues collected year-to-date totaled $342,000,
compared to budget of $260,000. 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. 2015 2016 2016 Revenue Actual Budget Actual Amount Amount General Government $ 43,704 $ 37,600 $ 46,237 $ 2,534 5.8 % $ 8,637 23.0 % Public Safety 287,517
260,149 342,281 54,764 19.0 % 82,132 31.6 % Development Services 715,082 368,100 615,814 (99,268) (13.9) % 247,714 67.3 % Culture & Recreation 1,236,235 1,089,000 1,251,074 14,838 1.2
% 162,074 14.9 % YTD Total $ 2,282,538 $ 1,754,849 $ 2,255,406 $ (27,132) (1.2) % $ 500,557 28.5 % June 2016 Charges for Services by Type 2016 vs. 2015 Actual 2016 vs. Budget Percentage
Percentage 15
Quarterly Financial Report Through Q2-2016 Development services fee collections, which primarily consist of plan check fees, totaled $616,000 and exceeded budget by $248,000. Plan check
fees collected year-to-date total $453,000, compared to a budget of $275,000. 16
Quarterly Financial Report Through Q2-2016 Culture and recreation revenues totaled $1.3 million and exceeded year-to-date budget by $162,000, or 14.9 %. A substantial portion of this
favorable variance was due to recreational classes, where yearover-year revenues have increased $79,000. Additionally, revenues collected through the second quarter for the Cultural
Arts program and Auburn Avenue Theater classes have exceeded their yearend budget expectations, reflecting higher than anticipated participation. 17
Quarterly Financial Report Through Q2-2016 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 through Q2-2016 totaled $450,000, compared to a budget of $419,000. 2015 2016 2016 Month
Actual Budget Actual Amount Amount Civil Penalties $ 6,069 $ 7,900 $ 5,151 $ (918) (15.1) % $ (2,749) (34.8) % Civil Infraction Penalties 273,741 245,300 235,442 (38,300) (14.0) % (9,859)
(4.0) % Redflex Photo Enforcement 1,766 0 10,849 9,083 514.3 % 10,849 #DIV/0! Parking Infractions 67,867 51,700 70,624 2,757 4.1 % 18,924 36.6 % Criminal Traffic Misdemeanor 29,317 26,400
24,757 (4,560) (15.6) % (1,643) (6.2) % Criminal Non-Traffic Fines 25,129 23,800 22,156 (2,973) (11.8) % (1,644) (6.9) % Criminal Costs 30,829 24,200 29,751 (1,078) (3.5) % 5,551 22.9
% Non-Court Fines & Penalties 51,259 39,400 51,178 (81) (0.2) % 11,778 29.9 % YTD Total $ 485,978 $ 418,700 $ 449,907 $ (36,071) (7.4) % $ 31,207 7.5 % June 2016 Fines & Forfeits by
Type 2016 vs. 2015 Actual 2016 vs. Budget Percentage Percentage 18
Quarterly Financial Report Through Q2-2016 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 through Q2-2016 totaled $600,000 and exceeded budget expectations
by $203,000, or 51.2%. Primary contributors to this revenue performance include investment income, which has already exceeded annual budgeted revenue, and parking garage permits, which
has year-to-date revenue of nearly double the annual budget of $8,000. Facilities rental revenues are also higher than anticipated after an increase in demand during the late spring
and early summer. 2015 2016 2016 Month Actual Budget Actual Amount Amount Interest & Investments $ 23,497 $ 15,000 $ 54,747 $ 31,249 133.0 % $ 39,747 265.0 % Rents & Leases 301,118 294,500
373,158 72,040 23.9 % 78,658 26.7 % Contributions & Donations 20,852 17,300 11,818 (9,034) (43.3) % (5,482) (31.7) % Other Miscellaneous Revenue 102,512 70,000 160,111 57,599 56.2 %
90,111 128.7 % YTD Total $ 447,979 $ 396,800 $ 599,833 $ 151,854 33.9 % $ 203,033 51.2 % Miscellaneous Revenues by Type June 2016 2016 vs. 2015 2016 vs. Budget Percentage Percentage
19
Quarterly Financial Report Through Q2-2016 Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund and is used for governmental capital projects.
REET revenues collected through Q2-2016 totaled $2.1 million and exceeded budgeted amounts by $503,000, or 31.9%. Year-to-date revenues were lower than the same period in 2015, which
saw the sale of several large businesses in the City, to include the Outlet Collection – Seattle and the Lakeland Town Center. Real estate sales in the City of Auburn in Q2-2016 included
the sale of both commercial and single family residences. 2015 2016 2016 Month Actual Budget Actual Amount Amount Jan $ 125,089 $ 97,600 339,594 $ 214,505 171.5 % $ 241,994 247.9 % Feb
$ 115,287 $ 128,900 286,943 171,656 148.9 % 158,043 122.6 % Mar $ 1,394,226 $ 602,800 293,361 (1,100,865) (79.0) % (309,439) (51.3) % Apr $ 423,394 $ 244,300 574,925 151,531 35.8 % 330,625
135.3 % May $ 345,489 $ 234,700 255,078 (90,410) (26.2) % 20,378 8.7 % Jun $ 436,101 $ 267,800 329,081 (107,020) (24.5) % 61,281 22.9 % Jul #N/A #N/A #N/A #N/A #N/A #N/A Aug #N/A #N/A
#N/A #N/A #N/A #N/A Sep #N/A #N/A #N/A #N/A #N/A #N/A Oct #N/A #N/A #N/A #N/A #N/A #N/A Nov #N/A #N/A #N/A #N/A #N/A #N/A Dec #N/A #N/A #N/A #N/A #N/A #N/A YTD Total $ 2,839,586 $ 1,576,100
2,078,982 (760,604) (26.8) % 502,882 31.9 % 2016 vs. 2015 2016 vs. Budget Percentage Real Estate Excise Tax Revenues June 2016 Percentage 20
Quarterly Financial Report Through Q2-2016 Pet Licensing Year-to-date, 2,342 pet licenses were sold, resulting in $66,645 in revenue. For the same period in 2015, 2,563 licenses were
sold, resulting in $73,605 in revenue. 2016 Budget Goal: $240,000 2016 Revenue = $66,645 2015 Revenue = $73,605 2016 Licenses Sold = 2,342 2015 Licenses Sold = 2,563 21
Quarterly Financial Report Through Q2-2016 Street Funds This section provides financial overview of the City’s three street funds for the fiscal period ending June 31, 2016. This City’s
three street funds include the following: the Arterial Street Fund (Fund 102), the Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105). The capital project
expenditures are budgeted primarily based on the collection/disbursement average for the same period of the prior two years. 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,
and other sources. There are over 40 separate street projects budgeted in this fund in 2016. Some of these projects include the South 272nd /South 277th Street Corridor Improvement Project,
the West Main Street Multimodal Corridor and ITS Improvement Project, and the AWS Corridor Safety Improvement Project (Muckleshoot Plaza to Dogwood). Through June 2016, revenues collected
totaled $1.9 million and compare to collections of $1.1 million the same period in the prior year. Expenditures through June totaled $1.5 million and compare to $1.8 million spent the
same period last year. Fund 102 -Arterial Street 2015 Summary of Sources and Uses Annual Report Period: June 2016 Budget YTD Budget YTD Actual YTD Actual Amount Revenues Federal Grants
$ 7,270,016 $ 511,396 $ 47,465 $ 153,434 $ (463,931) (90.7) % State Grants 4,198,288 967,871 99,350 139,195 (868,521) (89.7) % Motor Vehicle Fuel and Multimodal Taxes 530,000 265,000
290,906 233,128 25,906 9.8 % Developer Contributions 1,544,200 0 0 0 0 N/A Miscellaneous Revenue 336,674 168,337 64,862 82,953 (103,475) (61.5) % Other Governmental Agencies 0 0 0 61,520
0 N/A Public Works Trust Fund Loans 0 0 0 0 0 N/A Operating Transfer In 3,882,586 0 712,702 450,205 712,702 N/A Investment Income 2,000 1,000 3,132 1,664 2,132 213.2 % Total Revenues
$ 17,763,764 $ 1,913,604 $ 1,218,417 $ 1,122,100 $ (695,187) (36.3) % Expenditures Salary and Benefits $ 839,323 $ 389,647 $ 235,491 $ 190,239 $ 154,157 39.6 % Services and Charges 245,000
122,500 30,036 115,536 92,464 75.5 % Capital Outlay 17,428,903 5,083,447 1,012,136 1,286,471 4,071,311 80.1 % Interfund Payments for Services 74,550 37,275 37,278 35,574 (3) (0.0) %
Debt Service Principal and Interest 217,862 0 210,205 218,761 (210,205) N/A Operating Transfer Out 0 0 0 0 0 N/A Total Expenditures $ 18,805,638 $ 5,632,869 $ 1,525,145 $ 1,846,581 $
4,107,723 72.9 % Net Change in Fund Balance $ (1,041,874) $ (3,719,265) $ (306,728) $ (724,481) $ 3,412,536 (91.8) % 2016 2016 YTD Budget vs. Actual Favorable (Unfavorable) Percentage
Estimated Beg. Fund Balance, April 2016 $ 2,325,058 Net Change in Fund Balance, June 2016 (306,728) Ending Fund Balance, June 2016 $ 2,018,330 2016 Budgeted Ending Fund Balance $ 1,283,185
22
Quarterly Financial Report Through Q2-2016 Notes: The year-to-date variance is largely due to timing of project expenditures for four significant projects, which together account for
over 77% of the 2016 expenditure budget in this fund: • S 272nd St. /S 277th St. Corridor Improvements – Environmental requirements are delaying construction work; it is anticipated
that $1.7 million out of a budget of $6.0 million will be expended in 2016. • W Main St. Multimodal Corridor and ITS Improvements – Work began in August and is expected to be completed
in the remainder of 2016. • AWS Corridor Safety Improvements – Project has been slowed during ROW acquisition. Costs are anticipated to be higher than planned and may require additional
funding. • 37th St. SE & A St. SE Traffic Signal Safety Improvements – Project is currently in the design phase and will not be in construction until early 2017. 23
Quarterly Financial Report Through Q2-2016 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. Through June 2016 the revenues in this fund exceeded budget expectations by $299,000, or 33.7%, due to higher than anticipated sales tax revenues from local construction
projects. Expenditures through June totaled $276,000 and compares to year to date budget of $312,000. This variance is due to timing of project expenditures. The majority of 2016 Local
Street Pavement Reconstruction Project expenditures are anticipated to occur in Q3-2016 and Q4-2016. Fund 103 -Local Street Fund 2015 Summary of Sources and Uses Annual Report Period:
June 2016 Budget YTD Budget YTD Actual YTD Actual Amount Revenues Sales Tax on Construction $ 1,610,000 $ 737,800 $ 1,033,228 $ 996,884 $ 295,428 40.0 % Operating Transfer In 150,000
150,000 150,000 150,000 0 0.0 % Interest Earnings 2,500 1,250 5,246 1,686 3,996 319.6 % Total Revenues $ 1,762,500 $ 889,050 $ 1,188,474 $ 1,148,570 $ 299,424 33.7 % Expenditures Salary
and Benefits $ 175,090 $ 87,544.88 $ 59,636 $ 49,968 $ 27,909 31.9 % Services and Charges 300 150 407 249 (257) (171.7) % Capital Outlay 2,376,768 357,747 209,596 354,397 148,150 41.4
% Interfund Payments for Services 12,240 6,120 6,120 6,240 0 0.0 % Operating Transfer Out 0 0 0 0 0 N/A Total Expenditures $ 2,564,398 $ 451,561 $ 275,760 $ 410,854 $ 175,801 38.9 %
Net Change in Fund Balance $ (801,898) $ 437,489 $ 912,714 $ 737,716 $ 475,225 108.6 % 2016 2016 YTD Budget vs. Actual Favorable (Unfavorable) Percentage Estimated Beg. Fund Balance,
April 2016 $ 1,349,769 Net Change in Fund Balance, June 2016 912,714 Ending Fund Balance, June 2016 $ 2,262,483 2016 Budgeted Ending Fund Balance $ 547,871 24
Quarterly Financial Report Through Q2-2016 Notes: As the YTD budget (solid gray area) shows, the bulk of capital expenditures are anticipated to occur in the last several months of the
year. The year-to-date variance is largely due to timing of project expenditures for the 2016 Local Street Pavement Reconstruction Project, where expenditures are anticipated to occur
in Q3-2016 and Q4-2016. 25
Quarterly Financial Report Through Q2-2016 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 2016 include Pavement Patching and Overlay, the Annual Arterial and Collector Crack Seal Project, the Auburn Way North Preservation Project and the
B Street NW Reconstruction Project. Through June 2016 revenues totaled $1.1 million and compare to budget of $1.3 million. Expenditures through June totaled $354,000, which is approximately
25% of year-to-date budgeted expenditure. This is due to the the Fund’s main project, Auburn Way North Preservation, being repackaged and sent to bid a second time after the first round
of bidding produced higher than expected costs. This is anticipated to be rebid in February 2017. The Fund’s next-largest project, B Street NW Reconstruction, remains in the design phase.
Construstion on this project is anticipated to start in March 2017. Fund 105 -Arterial St. Presv. 2015 Summary of Sources and Uses Annual Report Period: June 2016 Budget YTD Budget YTD
Actual YTD Actual Amount Revenues City Utility Tax $ 589,000 $ 281,300 $ 306,365 $ 286,554 $ 25,065 8.9 % Electric Utility Tax 660,500 $ 352,200 383,084 329,696 30,884 8.8 % Natural
Gas Utility Tax 170,400 115,500 128,821 131,804 13,321 11.5 % Cable TV Tax 181,300 90,000 98,361 91,872 8,361 9.3 % Telephone Utility Tax 324,000 169,900 153,545 174,248 (16,355) (9.6)
% Garbage Utility Tax (External Haulers) 17,700 8,850 10,296 9,142 1,446 16.3 % Grants 1,053,626 286,201 0 0 (286,201) (100.0) % Developer Mitigation Fees 0 0 0 0 0 N/A Operating Transfer
In 0 0 0 0 0 N/A Interest Earnings 1,500 750 4,121 1,923 3,371 449.5 % Total Revenues $ 2,998,026 $ 1,304,701 $ 1,084,593 $ 1,025,239 $ (220,108) (16.9) % Expenditures Salary and Benefits
$ 124,095 $ 62,047.72 $ 142,976 $ 81,176 $ (80,928) (130.4) % Supplies 0 0 0 0 0 N/A Services and Charges 150,000 75,000 0 0 75,000 N/A Capital Outlay 4,610,726 1,252,430 45,323 1,590,512
1,207,107 96.4 % Operating Transfer Out 401,750 0 165,226 0 (165,226) N/A Total Expenditures $ 5,286,571 $ 1,389,478 $ 353,525 $ 1,671,688 $ 1,035,953 74.6 % Net Change in Fund Balance
$ (2,288,545) $ (84,777) $ 731,068 $ (646,449) $ 815,845 (962.3) % 2016 2016 YTD Budget vs. Actual Favorable (Unfavorable) Percentage Estimated Beg. Fund Balance, April 2016 $ 2,306,928
Net Change in Fund Balance, June 2016 731,068 Ending Fund Balance, June 2016 $ 3,037,996 2016 Budgeted Ending Fund Balance $ 18,382 26
Quarterly Financial Report Through Q2-2016 Notes: The year-to-date variance is primarily due to two major projects. This main project, Auburn Way North Preservation, is being repackaged
and sent to bid a second time after the first round of bidding produced higher than expected costs. This is anticipated to be rebid in February 2017. The second project, B Street NW
Reconstruction, remains in the design phase; construction on this project is anticipated to start in March 2017. Funds for both projects will be carried forward into next year. 27
Quarterly Financial Report Through Q2-2016 Fund 124 – Mitigation Fees The Mitigation Fees Fund is a Special Revenue Fund funded from revenue from new development, which is assessed at
the time applications are received for development activity. These funds are used to mitigate costs associated with City growth. Through Q2-2016, revenues were above budget expectations,
at 80.9% of the annual budgeted amount. Expenditures year-to-date are well below budget due to delays in construction projects. Fund 124 -Mitigation Fees Summary of Sources and Uses
Report Period Through: Ending Ending March 2016 Fund Balance Fund Balance Transportation Impact Fees $ 590,330 $ 547,476 $ 3,724,939 $ 800,000 $ 3,106,075 $ 1,333,590 Transportation
Migitation Fees $ -$ -$ 257,710 $ -$ 73,144 $ 184,566 Fire Impact Fees $ 42,250 $ -$ 356,470 $ 100,000 $ 50,000 $ 364,220 Fire Mitigation Fees $ -$ -$ 82 $ -$ -$ 82 Parks Impact Fees
$ 354,598 $ 30,508 $ 1,447,303 $ 75,000 $ 300,000 $ 898,213 Parks Mitigation Fees $ -$ -$ 330,319 $ -$ -$ 330,319 School Impact Admin Fees $ 6,604 $ -$ 84,719 $ 15,000 $ -$ 93,115 Wetland
Mitigation Fees $ -$ -$ 68,626 $ -$ -$ 68,626 Interest and Investment Income $ 12,095 $ -$ 12,095 $ 4,890 $ -$ 4,890 Fees in Lieu of Improvements $ 122,525 $ -$ 122,525 $ -$ -$ -Operating
Transfers $ -$ -$ -$ 400,000 $ -$ 400,000 Total $ 1,128,402 $ 577,984 $ 6,404,788 $ 1,394,890 $ 3,529,219 $ 3,677,621 Beginning Fund Balance, January 1, 2016 $ 5,854,369 Net Change in
Fund Balance, June 2016 $ 550,418 Ending Fund Balance, June 2016 $ 6,404,787 YTD ACTUALS BUDGET Revenues Expenditures Revenues Expenditures 28
Quarterly Financial Report Through Q2-2016 Proprietary Funds Detailed income and expense statements for Enterprise and Internal Service funds can be found in the Appendices at the end
of this report. The format changed in Q1-2016 and, in lieu of a working capital statement, there are now operating and capital fund reports for most of these funds showing budget, actual
and variance. The operating fund houses all the operating costs along with debt service and financing obligations. The capital fund shows costs associated with capital acquisition and
construction. Both the operating fund and the capital fund have a working capital balance. This approach isolates those funds available for capital and cash flow needs for daily operations,
and project managers will know how much working capital is available for current and planned projects. Budget Amendment #6, adopted July 2016, moved working capital from the operating
funds to the capital funds along with all the other beginning fund balance adjustments. System development revenues previously credited to the operating funds are now directed to the
corresponding capital funds. At the end of the second quarter, the Water Utility had operating income of $1.9 million as compared with operating income of $1.4 million for the same period
in 2015. Water sales through Q2-2016 totaled 1.6 million hundred cubic feet (ccf), compared to 1.5 million ccf during the same period in 2015, representing a 6.7% increase. Year to date
revenues are slightly (0.7%) below budget but it is too early to tell whether this trend will continue for the balance of the year since August through October are typically the high
revenue months. The Sewer Utility ended the quarter with net operating income of $1.2 million, which is $300,000 higher than the same period in 2015. The Sewer-Metro Utility ended the
quarter with a quarterly net operating income of $192,000, as compared with an operating loss of $173,000 through Q2-2015. The Stormwater Utility ended Q2-2016 with $1.4 million in operating
income, which is about $1.3 million below the same period in 2015. This is due in large part to the receipt of about $800,000 in grant revenues from the Department of Ecology in Q2-2015.
29
Quarterly Financial Report Through Q2-2016 The Cemetery Fund ended the second quarter with operating income of $178,000 as compared with operating income of $94,000 for the same period
in 2015. Year-to-date operating revenues totaled $757,000, compared to $592,000 in 2015, representing an increase of 27.8%. Operating expenditures totaled 579,000 in through Q2-2016,
compared to 497,000 in the same period last year. The increase is mainly a result of higher cost of supplies due to increased inventory costs associated with higher demand. 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 2016. 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. 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. $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Thousands
Cemetery 2016 YTD Budget Revenue 2016 YTD Actual Revenue 2015 YTD Actual Revenue 2016 YTD Actual Expenses Cumulative Revenues & Expenditures 2016 Budget vs. Actual 30
Investment Purchase Purchase Maturity Yield to Type Date Price Date Maturity State Investment Pool Various $ 102,384,608 Various 0.49% KeyBank Money Market Various 15,458,967 Various
0.02% FNMA 3/11/2016 998,844 2/22/2019 1.20% LAKUTL 9/25/2013 235,919 11/1/2017 1.90% Total Cash & Investments $ 119,078,338 0.441% Investment Mix % of Total State Investment Pool 86.0%
Current 6-month treasury rate 0.40% KeyBank Money Market 13.0% Current State Pool rate 0.49% US Treasury 0.0% KeyBank Money Market 0.02% FNMA 0.8% LAKUTL 0.2% 100.0% City of Auburn Investment
Portfolio Summary June 30, 2016 Summary 31
32
Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance 430 430 431 431 433 433 432 432 OPERATING FUND: 460 460 461 461 462 462 OPERATING
REVENUES Charges For Service 13,698,782 6,360,194 (7,338,588) 7,847,883 4,177,159 (3,670,724) 16,332,687 8,367,931 (7,964,756) 9,151,487 4,766,871 (4,384,616) Grants ---50,000 (50,000)
Interest Earnings 7,735 19,770 12,035 10,697 26,360 15,663 700 2,406 1,706 13,865 28,605 14,740 Operating Transfers Rents, Leases, Concessions, & Other 206,854 356,361 149,507 70,128
428,007 357,879 -58,674 486,102 427,428 TOTAL OPERATING REVENUES 13,913,371 6,736,325 (7,177,046) 7,928,708 4,631,526 (3,297,182) 16,333,387 8,370,338 (7,963,049) 9,274,026 5,281,578
(3,992,448) OPERATING EXPENSES Salaries & Wages 2,587,276 1,264,661 1,322,615 1,758,478 838,242 920,236 ---2,397,119 1,277,914 1,119,205 Benefits 1,251,312 578,684 672,628 871,146 388,502
482,645 ---1,224,350 584,179 640,172 Supplies 321,994 141,754 180,240 130,500 27,745 102,755 ---94,300 45,470 48,830 Other Service Charges 5,185,175 1,828,899 3,356,276 2,723,275 1,203,382
1,519,893 ---1,670,215 608,671 1,061,544 Capital -26,451 (26,451) -(0) 0 ----2,771 (2,771) Intergovernmental Services 133,960 63,251 70,709 172,008 99,135 72,872 415,980 245,263 170,717
Waste Management Payments Sewer Metro Services 16,317,200 8,178,322 8,138,878 Debt Service Principal 1,702,563 572,855 1,129,708 541,127 288,262 252,865 ---413,162 -413,162 Debt Service
Interest 1,006,253 54,990 951,263 277,082 14,776 262,306 ---360,525 -360,525 Interfund Loan Repayment ---Interfund Operating Rentals & Supplies 1,276,967 638,512 638,455 952,338 476,451
475,887 ---1,312,518 657,177 655,341 TOTAL OPERATING EXPENSES 13,465,499 5,170,055 8,295,444 7,425,954 3,336,495 4,089,460 16,317,200 8,178,322 8,138,878 7,888,169 3,421,444 4,466,725
NET INCOME BEFORE DEPRECIATION (*) 447,873 1,566,270 1,118,398 502,754 1,295,031 792,277 16,187 192,016 175,829 1,385,857 1,860,134 474,278 BEGINNING WORKING CAPITAL -January 1, 2016
4,371,774 4,191,201 (180,573) 7,405,717 4,262,859 (3,142,858) 2,145,237 2,358,518 213,281 7,371,777 1,914,968 (5,456,809) ENDING WORKING CAPITAL -June 30, 2016 4,819,646 5,757,471 937,825
7,908,471 5,557,890 (2,350,581) 2,161,424 2,550,534 389,110 8,757,634 3,775,103 (4,982,531) NET CHANGE IN WORKING CAPITAL (see Note) 447,872 1,566,270 1,118,398 502,754 1,295,031 792,277
16,187 192,016 175,829 1,385,857 1,860,134 474,278 (3,883,943) 7,496,902 9,925,599 CAPITAL FUND: CAPITAL REVENUES Interest Revenue 1,265 -(1,265) 2,303 -(2,303) 2,135 -(2,135) Contributions
---------Other Non-Operating Revenue ---------Gain (Loss) On Sale Of Fixed Assets ---------Increase In Contributions -System Development 350,000 12,846 (337,154) 240,000 9,472 (230,528)
350,000 10,710 (339,290) Increase In Contributions -Other ---------Proceeds of Debt Activity 4,070,037 -(4,070,037) ------Operating Transfers In ---------Other Sources ---------TOTAL
CAPITAL REVENUES 4,421,302 12,846 (4,408,456) 242,303 9,472 (232,831) 352,135 10,710 (341,425) CAPITAL EXPENSES Other Non-Operating Expense ---------Net Change In Restricted Net Assets
---Increase In Fixed Assets -Salaries 245,725 122,848 122,877 230,786 47,431 183,355 294,980 28,949 266,031 Increase In Fixed Assets -Benefits 81,637 50,544 31,093 76,412 20,700 55,712
97,969 12,785 85,184 Increase In Fixed Assets -Site Improvements -13,035 (13,035) -----Increase In Fixed Assets -Land ----Increase In Fixed Assets -Equipment ---Increase In Fixed Assets
-Construction 8,989,179 2,866,563 6,122,616 3,831,262 428,827 3,402,435 4,390,563 322,985 4,067,578 Operating Transfers Out ---------TOTAL CAPITAL EXPENSES 9,316,541 3,052,990 6,263,550
4,138,460 496,957 3,641,503 4,783,512 364,720 4,418,792 BEGINNING WORKING CAPITAL -January 1, 2016 1,513,225 5,070,000 3,556,775 3,900,520 3,900,520 -2,498,483 4,128,845 1,630,362 ENDING
WORKING CAPITAL -June 30, 2016 (3,382,014) 2,029,855 5,411,869 4,363 3,413,035 3,408,672 (1,932,894) 3,774,835 5,707,729 NET CHANGE IN WORKING CAPITAL (see Note) (4,895,239) (3,040,144)
1,855,094 (3,896,157) (487,485) 3,408,672 (4,431,377) (354,010) 4,077,367 11,129,872 (3,641,397) (3,990,301) Total Change in Working Capital (4,447,366) (1,473,874) 2,973,492 (3,393,403)
807,546 4,200,949 16,187 192,016 175,829 (3,045,520) 1,506,125 4,551,645 (*) Depreciation 2,726,100 1,511,592 2,104,200 1,098,426 --1,688,400 975,604 Beginning balances were posted as
part of BA#6 in early July. Note: Working Capital = Current Assets minus Current Liabilities OPERATING & CAPITAL FUNDS ENTERPRISE FUNDS through June 2016 WATER SEWER SEWER METRO STORM
8/22/2016 6:59 AM 33
OPERATING FUND: OPERATING REVENUES Charges For Service Grants Interest Earnings Operating Transfers Rents, Leases, Concessions, & Other TOTAL OPERATING REVENUES OPERATING EXPENSES Salaries
& Wages Benefits Supplies Other Service Charges Capital Intergovernmental Services Waste Management Payments Sewer Metro Services Debt Service Principal Debt Service Interest Interfund
Loan Repayment Interfund Operating Rentals & Supplies TOTAL OPERATING EXPENSES NET INCOME BEFORE DEPRECIATION (*) BEGINNING WORKING CAPITAL -January 1, 2016 ENDING WORKING CAPITAL -June
30, 2016 NET CHANGE IN WORKING CAPITAL (see Note) CAPITAL FUND: CAPITAL REVENUES Interest Revenue Contributions Other Non-Operating Revenue Gain (Loss) On Sale Of Fixed Assets Increase
In Contributions -System Development Increase In Contributions -Other Proceeds of Debt Activity Operating Transfers In Other Sources TOTAL CAPITAL REVENUES CAPITAL EXPENSES Other Non-Operating
Expense Net Change In Restricted Net Assets Increase In Fixed Assets -Salaries Increase In Fixed Assets -Benefits Increase In Fixed Assets -Site Improvements Increase In Fixed Assets
-Land Increase In Fixed Assets -Equipment Increase In Fixed Assets -Construction Operating Transfers Out TOTAL CAPITAL EXPENSES BEGINNING WORKING CAPITAL -January 1, 2016 ENDING WORKING
CAPITAL -June 30, 2016 NET CHANGE IN WORKING CAPITAL (see Note) Total Change in Working Capital (*) Depreciation Note: Working Capital = Current Assets minus Current Liabilities OPERATING
& CAPITAL FUNDS through June 2016 Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance 434 434 435 435 436 436 501 501 464 464
465 465 466 466 -13,317,100 6,918,060 (6,399,040) 747,400 404,818 (342,582) 878,000 756,278 (121,722) ---109,000 7,038 (101,962) -----1,300 6,665 5,365 969 1,631 662 300 1,039 739 1,000
1,485 485 300,000 ----500 4,007 3,507 -20 20 -13,427,400 6,931,764 (6,495,636) 748,869 410,457 (338,412) 1,178,300 757,338 (120,962) 1,000 1,485 485 406,645 204,198 202,447 25,723 13,969
11,753 453,837 239,741 214,096 ---206,181 92,698 113,482 10,496 4,734 5,762 258,783 123,277 135,505 215,000 81,399 133,601 34,200 6,894 27,306 2,000 175 1,825 191,300 138,647 52,653
---1,387,775 3,343,015 (1,955,240) 463,050 221,302 241,748 151,700 51,559 100,141 3,900 518,270 (514,370) ----420,600 90,536 330,064 ---------10,645,300 1,716,053 8,929,247 ---150,000
-150,000 ---------35,693 -35,693 0 -0 ---39,947 -39,947 --104,209 52,098 52,111 ---50,740 25,368 25,372 ---13,204,910 5,505,492 7,699,417 726,908 240,182 486,727 1,106,360 578,593 527,767
218,900 599,668 (380,768) 222,490 1,426,272 1,203,781 21,961 170,275 148,314 71,940 178,745 106,805 (217,900) (598,183) (380,283) 3,082,277 3,082,277 -273,835 273,835 -340,685 105,646
(235,039) 1,436,157 1,530,589 94,432 3,304,767 4,508,548 1,203,781 295,796 444,110 148,314 412,625 284,392 (128,234) 1,218,257 932,406 (285,851) 222,490 1,426,272 1,203,781 21,961 170,275
148,314 71,940 178,745 106,805 (217,900) (598,183) (380,283) 194,321 13,997 245,776 31 -(31) ---14,456 3,924 (10,532) ------------------------------------300,000 -(300,000) ---340,685
-(340,685) 278,321 74,557 (203,764) 640,685 -(640,685) ------------------------------469,911 118,777 351,134 0 14,541 (14,541) ------469,911 118,777 351,134 0 14,541 (14,541) -184,621
184,621 -270,000 270,000 (191,590) 140,401 331,991 640,685 255,459 (385,226) (191,590) (44,220) 147,370 640,685 (14,541) (655,226) (218,883) (270,000) 222,490 1,426,272 (169,629) 126,055
295,684 712,625 164,205 (548,421) (217,900) (598,183) (380,283) 20,000 9,410 426,100 227,536 58,300 25,196 --Beginning balances were posted as part of BA#6 in early July. ENTERPRISE
FUNDS SOLID WASTE AIRPORT CEMETERY INSURANCE INTERNAL SERVICE FUNDS 8/22/2016 6:59 AM 34
OPERATING FUND: OPERATING REVENUES Charges For Service Grants Interest Earnings Operating Transfers Rents, Leases, Concessions, & Other TOTAL OPERATING REVENUES OPERATING EXPENSES Salaries
& Wages Benefits Supplies Other Service Charges Capital Intergovernmental Services Waste Management Payments Sewer Metro Services Debt Service Principal Debt Service Interest Interfund
Loan Repayment Interfund Operating Rentals & Supplies TOTAL OPERATING EXPENSES NET INCOME BEFORE DEPRECIATION (*) BEGINNING WORKING CAPITAL -January 1, 2016 ENDING WORKING CAPITAL -June
30, 2016 NET CHANGE IN WORKING CAPITAL (see Note) CAPITAL FUND: CAPITAL REVENUES Interest Revenue Contributions Other Non-Operating Revenue Gain (Loss) On Sale Of Fixed Assets Increase
In Contributions -System Development Increase In Contributions -Other Proceeds of Debt Activity Operating Transfers In Other Sources TOTAL CAPITAL REVENUES CAPITAL EXPENSES Other Non-Operating
Expense Net Change In Restricted Net Assets Increase In Fixed Assets -Salaries Increase In Fixed Assets -Benefits Increase In Fixed Assets -Site Improvements Increase In Fixed Assets
-Land Increase In Fixed Assets -Equipment Increase In Fixed Assets -Construction Operating Transfers Out TOTAL CAPITAL EXPENSES BEGINNING WORKING CAPITAL -January 1, 2016 ENDING WORKING
CAPITAL -June 30, 2016 NET CHANGE IN WORKING CAPITAL (see Note) Total Change in Working Capital (*) Depreciation Note: Working Capital = Current Assets minus Current Liabilities OPERATING
& CAPITAL FUNDS through June 2016 Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance Budget YTD Actual Variance 503 503 505 505 518 518 550 550 --568 568
560 560 743,000 415,582 (327,418) 3,495,900 1,700,661 (1,795,239) 5,531,965 2,730,065 (2,801,900) 3,371,780 1,652,192 (1,719,588) ------100 1,626 1,526 2,500 5,165 2,665 3,088 6,926
3,838 4,048 11,422 7,374 137,950 2,500 428,997 139,749 120,000 28,149 (91,851) -----278 278 863,100 445,357 (417,743) 3,498,400 1,705,826 (1,792,574) 5,673,003 2,739,492 (2,798,061)
3,804,825 1,803,641 (1,711,936) 84,590 35,824 48,766 707,569 326,664 380,906 1,711,060 809,381 901,680 593,881 282,101 311,780 367,005 95,263 271,742 390,621 169,937 220,684 708,330
328,520 379,811 314,545 142,408 172,138 ---128,200 93,388 34,812 431,480 166,640 264,840 1,341,600 406,213 935,387 402,715 179,490 223,225 2,350,990 1,062,156 1,288,834 2,737,121 1,495,122
1,241,999 377,500 125,806 251,694 ------319,745 (319,745) ---810,827 -810,827 ---626,392 -626,392 ---------39,107 -39,107 ---------5,033 2,663 2,370 -------110,841 55,422 55,419 160,790
80,394 80,396 212,390 106,291 106,099 854,310 310,577 543,733 4,499,048 1,707,567 2,791,482 5,748,782 2,880,056 2,868,726 3,510,449 1,385,226 2,125,223 8,790 134,780 125,990 (1,000,648)
(1,741) 998,907 (75,779) (140,564) (64,785) 294,376 418,415 124,038 483,503 778,233 294,730 2,583,663 2,410,754 (172,909) 2,386,387 2,305,195 (81,192) 2,095,085 2,974,119 879,034 492,292
913,013 420,720 1,583,014 2,409,013 825,998 2,310,608 2,164,631 (145,977) 2,389,461 3,392,534 1,003,072 8,790 134,780 125,990 (1,000,648) (1,741) 998,907 (75,779) (140,564) (64,785)
294,376 418,415 124,038 1,291,644 2,748,906 412 -(412) 1,652 -(1,652) ------------------------------------------------412 -(412) 1,652 -(1,652) --------------------------1,229,579 534,763
694,816 2,590,263 739,527 1,850,736 -723,002 55,241 667,761 ------1,229,579 534,763 694,816 3,313,265 794,768 2,518,497 479,588 1,400,000 920,412 1,836,396 3,100,001 1,263,605 (749,579)
865,237 1,614,816 (1,475,217) 2,305,232 3,780,449 (1,229,167) (534,763) 694,404 (3,311,613) (794,768) 2,516,845 (924,827) (2,385,344) 8,790 134,780 125,990 (1,000,648) (1,741) 998,907
(1,304,946) (675,327) 629,619 (3,017,237) (376,354) 2,640,883 ----546,400 329,148 822,500 486,393 Beginning balances were posted as part of BA#6 in early July. WORKER'S COMPENSATION
FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL INTERNAL SERVICE FUNDS 8/22/2016 6:59 AM 35
AGENDA BILL APPROVAL FORM
Agenda Subject: 2nd Quarter 2016 Financial Report Date: August 23, 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 second quarter status report is based on financial data available as of July 25, 2016 for the period
ending June 30, 2016. Sales tax information represents business activity that occurred through April
2016.
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.
Through June 2016, General Fund revenues totaled $32.5 million compared to a budget of $30.3 million
and were $2.2 million higher than the revenues collected for the same period in 2015. Notable variances
to budget in the second quarter of 2016 include:
• General Fund sales tax revenues totaled $7.3 million, exceeding budget by $16,000 or 0.2% and
exceeding 2015 collections by $221,000. Receipts to date include a one-time payment of over
$100,000 and so the trend is unfavorable. The areas of significant increase from 2015 were primarily
in the service and transportation sectors, with significant decreases in the manufacturing and retail
trade sectors.
• The Other Taxes category performed better than budget through Q2-2016. Collections in criminal
justice sales tax revenues exceeded budget by $114,000, or 13.8%. City utility tax revenues were
above budget by $156,000 and electric and natural gas tax revenues were above budget by $157,000
and $68,000, respectively. These revenues were somewhat offset by an unfavorable variance in
telephone tax collections of $67,000.
• Development services fees through June totaled $616,000 and exceeded budget by $248,000. The
increased revenues were predominantly attributable to plan check revenues, which year-to-date have
already generated 82% of budgeted annual revenue.
• Other revenues exceeded the year-to-date budget through Q2-2016 by $251,000, or 51.7%, and
exceeded Q2-2015 revenue in this category by $102,000, primarily due to increase parking revenues,
facility rental revenues, and purchase card rebates.
1
Agenda Subject: 2nd Quarter 2016 Financial Report
Date: 8/23/2016
General Fund expenditures through June totaled $29.2 million as compared with a budget of $33.4
million. This represents a 12.6% underspend compared to budget.
Through the second quarter of 2016, 2,342 pet licenses have been sold resulting in $66,645 in revenue.
For the same period in 2015, 2,563 licenses were sold resulting in $73,605 in revenue.
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 Q2-2016, Arterial Street fund revenues collected
totaled $1.9 million as compared to collections of $1.1 million for the same period in 2015; expenditures
totaled $1.5 million as compared to $1.8 million spent through second quarter last year. Local Street fund
revenues exceeded budget expectations for the first half of the year by $299,000, or 33.7%, due to higher
than anticipated sales tax revenues from local construction projects; expenditures were $276,000 as
compared with a budget of $312,000. Lastly, Arterial Street Preservation fund revenues totaled $1.1
million as compared to a budget of $1.3 million, while expenditures totaled $354,000.
Proprietary Funds:
The City’s seven proprietary funds account for operations with revenues primarily provided from user
fees, charges or contracts for services.
At the end of Q2-2016, the Water fund had net operating income of $1.9 million compared to operating
income of $1.4 million at the end of Q2-2015. The Sewer fund ended the period with net income of $1.2
million compared to income of $0.9 million in the previous year. The Sewer-Metro Utility ended the
quarter with net operating income of $192,000 as compared to an operating loss of $173,000 in 2015.
Lastly, the Stormwater Utility ended the quarter with operating income of $1.4 million compared to
operating income of $2.7 million for the same period in 2015.
The Cemetery ended Q2-2016 with net operating income of $178,000 compared to operating income of
$94,000 for the same period in 2015.
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 quarter was $114.7 million, and compares to
$118.3 million at the end of Q2-2015.
Staff: Coleman
Meeting Date: August 29, 2016 Item Number:
2
Quarterly Financial Report Through Q2-2016
YEAR-TO-DATE GENERAL FUND EXPENDITURES BY DEPARTMENT
(through June 2016)
YEAR-TO-DATE GENERAL FUND REVENUES
(through June 2016)
GENERAL FUND SUMMARY
$0
$5
$10
$15
Total
Revenues
Total
ExpensesMillions
Property TaxesSales TaxesOther TaxesIntergovernmental(Grants, etc.)DevelopmentService FeesCulture &RecreationOther Fees& ChargesOtherRevenuesPersonnelSupplies& ServicesIntergovernmentalOther ExpensesRevenues Expenditures
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
$30.6 $33.9$32.5 $29.2
$0
$10
$20
$30
$40
Total
Revenues
Total
ExpensesMillions
Council& MayorAdministrativeServicesMunicipal Court& ProbationHumanResourcesFinanceCity AttorneyCommunityDevelopmentJail - SCOREPolicePublic WorksParks, Arts& RecreationStreetsNon-Departmental$0
$2
$4
$6
$8
$10
$12
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
3
Quarterly Financial Report Through Q2-2016
General Fund 2015
Summary of Sources and Uses Annual YTD YT D YTD
Budget Budget Actual Actual Amount
Beginning Fund Balance 15,817,653$
Operating Revenues
Property Tax 17,733,500$ 9,364,100$ 9,448,363$ 9,082,406$ 84,263$ 0.9 %
Sales Tax 14,572,000 7,286,000 7,301,456 7,080,481 15,456 0.2 %
Sales Tax - Annexation Credit 1,912,000 914,000 988,193 886,979 74,193 8.1 %
Criminal Justice Sales Tax 1,747,000 831,400 945,829 861,400 114,429 13.8 %
Brokered Natural Gas Tax 282,000 179,900 160,140 159,349 (19,760)(11.0)%
City Utilities Tax 3,521,200 1,682,400 1,838,188 1,719,324 155,788 9.3 %
Admissions Tax 333,600 133,300 142,414 135,674 9,114 6.8 %
Electric Tax 3,297,700 1,758,600 1,915,419 1,648,480 156,819 8.9 %
Natural Gas Tax 852,000 575,900 644,107 659,020 68,207 11.8 %
Cable TV Franchise Fee 906,700 449,900 487,057 455,052 37,157 8.3 %
Cable TV Franchise Fee - Capital 64,000 32,800 33,238 36,324 438 1.3 %
Telephone Tax 1,620,000 835,000 767,726 871,239 (67,274)(8.1)%
Garbage Tax (external)106,000 52,980 61,778 54,854 8,798 16.6 %
Leasehold Excise Tax 33,000 16,700 179,245 35,020 162,545 973.3 %
Gambling Excise Tax 334,400 129,700 309,615 82,550 179,915 138.7 %
Taxes subtotal 47,315,100$ 24,242,680$ 25,222,768$ 23,768,153$ 980,088$ 4.0 %
Business License Fees 310,000$ 137,000$ 105,695$ 160,817$ (31,305)$ (22.9)%
Building Permits 1,190,000 647,800 840,170 645,220 192,370 29.7 %
Other Licenses & Permits 444,600 216,300 270,330 246,230 54,030 25.0 %
Intergovernmental (Grants, etc.)5,627,893 2,654,934 2,648,748 2,602,995 (6,186)(0.2)%
Charges for Services:
General Government Services 67,200 37,600 46,237 43,704 8,637 23.0 %
Public Safety 520,300 260,149 342,281 287,517 82,132 31.6 %
Development Services Fees 680,600 368,100 615,814 715,082 247,714 67.3 %
Culture and Recreation 2,105,080 1,089,000 1,251,074 1,236,235 162,074 14.9 %
Fines and Forfeits 796,180 418,700 449,907 485,978 31,207 7.5 %
Fees/Charges/Fines subtotal 11,741,853$ 5,829,583$ 6,570,256$ 6,423,779$ 740,673$ 12.7 %
146,477
Interests and Other Earnings 35,200$ 15,000$ 54,747$ 23,497$ 39,747$ 265.0 %
Rents, Leases and Concessions 630,600 294,500 373,158 301,118 78,658 26.7 %
Contributions and Donations 32,000 17,300 11,818 20,852 (5,482)(31.7)%
Other Miscellaneous 157,800 70,000 160,111 102,512 90,111 128.7 %
Transfers In 159,300 76,000 99,000 76,000 23,000 30.3 %
Insurance Recoveries - Capital & Operating 25,000 12,600 37,572 110,458 24,972 198.2 %
Other Revenues subtotal 1,039,900$ 485,400$ 736,406$ 634,438$ 251,006$ 51.7 %
Total Operating Revenues 60,096,853$ 30,557,663$ 32,529,429$ 30,826,369$ 1,971,766$ 6.5 %
Operating Expenditures
Council & Mayor 976,866$ 487,900$ 495,405$ 446,739$ (7,505)$ (1.5)%
Administration 2,544,236 1,163,000 986,476 857,741 176,524 15.2 %
Municipal Court & Probation 2,355,889 447,000 314,914 272,076 132,086 29.5 %
Human Resources 1,406,554 688,400 612,047 510,844 76,353 11.1 %
Finance 1,300,773 654,000 589,442 623,422 64,558 9.9 %
City Attorney 2,195,190 1,048,500 937,549 912,293 110,951 10.6 %
Community Development 4,656,841 2,309,300 2,027,342 1,919,180 281,958 12.2 %
Jail - SCORE 5,583,542 2,791,771 2,009,736 1,829,432 782,035 28.0 %
Police 23,794,252 11,664,900 11,463,766 10,811,956 201,134 1.7 %
Public Works 2,811,835 1,391,400 1,518,788 1,326,774 (127,388)(9.2)%
Parks, Arts & Recreation 11,584,205 5,738,300 5,452,246 5,351,703 286,054 5.0 %
Streets 3,466,563 1,531,900 1,447,978 1,289,104 83,922 5.5 %
Non-Departmental 5,102,169 3,471,775 1,313,029 2,298,317 2,158,747 62.2 %
Total Operating Expenditures 67,778,915$ 33,388,146$ 29,168,718$ 28,449,580$ 4,219,428$ 12.6 %
2016 2016 YTD Budget vs. Actual
Favorable (Unfavorable)
Percent
4
Quarterly Financial Report Through Q2-2016
Executive Summary
This Executive Summary provides an overview of the City’s overall financial position for the fiscal
period ending June 30, 2016, reflecting financial data available as of July 25, 2016.
Through June 2016, General Fund revenues totaled $32.5 million compared to a budget of $30.6
million, and were $2.2 million higher than the revenues collected during the first half of 2015. Some
notable variances to budget year-to-date include:
• General Fund sales tax revenues totaled $7.3 million, exceeding budget by $16,000 or 0.2%
and exceeding 2015 collections by $221,000. Receipts to date include a one-time payment
of over $100,000 and so the trend is unfavorable. Staff will continue to closely monitor
this key revenue source.
• The Other Taxes category performed better than budget through Q2-2016. Collections in
criminal justice sales tax revenues exceeded budget by $114,000, or 13.8%. City utility tax
revenues were above budget by $156,000 and electric and natural gas tax revenues were
above budget by $157,000 and $68,000, respectively. These revenues were somewhat
offset by an unfavorable variance in telephone tax collections of $67,000.
• Leasehold excise taxes show a large favorable variance compared to budget. This is due
to an unbudgeted payment from King County to the City for $139,500 in May 2016,
resulting from a determination by the Washington Department of Revenue. In essence,
while tribally-owned real estate is exempt from property tax, a parcel’s occupant (tenant
or lessee) may be subject to leasehold excise tax. Based on a Memorandum of
Understanding between the Muckleshoot Indian Tribe and King County, King County
distributed the City’s portion of payment for the Emerald Downs property, owned by the
Muckleshoot Indian Tribe. The Memorandum is legally binding only for 2016; future
payments will be negotiated separately. This payment in lieu of taxes was categorized as
leasehold excise tax for the purposes of this report.
• Gambling excise tax revenues were above budget by $180,000. The favorable variance in
gambling excise tax was due to a balloon payment on promissory notes for prior years’
unpaid taxes from Iron Horse Casino. The budget for these revenues was increased in
Budget Amendment #5, and is expected to balance by year end.
• Development services fees through June totaled $616,000 and exceeded budget by
$248,000. The increased revenues were predominately attributable to plan check
revenues, which year-to-date have already generated 82.0% of budgeted annual revenue.
• Culture and recreation revenues year-to-date exceeded budget by $162,000, or 14.9%.
Revenue sources with significant increases compared to Q2-2015 include Auburn Avenue
Theater ticket sales, the Cultural Arts Program, and recreational classes which combined
for a total $145,000 favorable variance from the same period the prior year.
5
Quarterly Financial Report Through Q2-2016
• The Other Revenues category exceeded the year-to-date budget through Q2-2016 by
$251,000, or 51.7%, and exceed 2015 year-to-date revenue in this category by $102,000.
This was partially due to increased revenue collected for parking lot fees, which directly
relate to a new parking lot and changes to parking rates. Additionally, facility rental
revenues have increased over the prior year, and the City continues to receive higher
than anticipated revenues from purchase-card rebates.
General Fund expenditures through the first half of 2016 totaled $29.2 million as compared to a
budget of $33.4 million, representing 12.6% less than budget. Salary and benefits charges to the
Public Works Department exceeded year-to-date budget by $127,000, or 9.2%, due to the timing of
work on capital projects. When working on capital projects, Engineering staff in the department
charge time to capital funds. However, public works projects are often unfeasible during portions
the early months of the year due to inclement weather, during which time salaries and wages that
would normally be charged to projects are instead charged to the General Fund. This is anticipated to
balance by the end of the year.
Year-to-date General Fund expenditures ended the period $719,000, or 2.5%, higher than the same
period last year. Salary and benefit costs increased by $826,000, or 5.1%, from the first half of last
year due mainly to increased costs associated with labor contracts and pension benefits.
$30.6 M
$33.4 M
$32.5 M
$29.2 M
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0
Revenues
Expenditures
$ Millions
General Fund
2016 Revenues vs. Expenditures
2016 Actual
2016 Budget
6
Quarterly Financial Report Through Q2-2016
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 through Q2-2016 totaled $9,448,000, which is 1% or $84,000 above budget
expectations. The property tax collection through Q2-2016 exceeded collections through the same
period last year by $354,000, or 4.3%. 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.
7
Quarterly Financial Report Through Q2-2016
Sales tax collections year to date total $8.3 million, of which $7.3 million was distributed to the
General Fund and $0.9 million was distributed to the Local Street Fund (SOS) program.* Through
June 2016, total sales tax revenue distributions to the General Fund exceeded budget expectations
by $16,000, or 0.2%. Receipts to date include a one-time payment of $110,000 in the “Other Services”
category and so the trend is unfavorable.
The areas of significant increase from 2015 were primarily in the service and transportation and
warehousing sectors, with significant decreases in the manufacturing and retail trade sectors.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on construction.
The total amount transferred year-to-date through Q2-2016 was $1,033,228. The graphic above presents sales taxes
under the current policy.
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsSales & Use Tax
(Net of Revenue from Construction)
2016 budget
2016 actual to
date
8
Quarterly Financial Report Through Q2-2016
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.
Total sales tax revenue collected through Q2-2016 exceeded prior year collections by $221,000, or
3.1%. The business sectors showing the largest increase in revenues compared to last year were the
service, transportation and warehousing, and construction industries.
Sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103) for local
street repair and maintenance, totaled $509,000, which is $31,000 higher than the same period last
year. Year-to-date revenues exceed budgeted revenue by $295,000.
2015 2016
Component Group Actual Actual Amount
Construction 996,884$ 1,033,228$ 36,344$ 3.6 %
Manufacturing 436,192 419,006 (17,186)(3.9)%
Transportation & Warehousing 28,097 46,904 18,807 66.9 %
Wholesale Trade 609,203 603,496 (5,707)(0.9)%
Automotive 1,778,094 1,780,400 2,306 0.1 %
Retail Trade 2,483,952 2,436,545 (47,407)(1.9)%
Services 1,728,219 2,037,369 309,150 17.9 %
Miscellaneous 30,968 -17,289 (48,257)(155.8)%
YTD Total 8,091,609$ 8,339,659$ 248,050$ 3.1 %
Change from 2015
June 2016
Comparison of Sales Tax Collections by SIC Group
Percentage
9
Quarterly Financial Report Through Q2-2016
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
through Q2-2016 totaled $5.2 million and exceeded year-to-date budget by $322,000 or 6.6%.
Favorable variances in City interfund utility tax, Electric tax, Natural Gas tax and Solid Waste tax
revenues more than offset lower than expected collections from the Telecommunication industry.
Budget Amendment #5 reduced telephone tax revenue by $200,000.
2015 2016 2016
Utility Tax Type Actual Budget Actual Amount Amount
City Interfund Utility Taxes 1,719,324$ 1,682,400$ 1,838,188$ $ 118,864 6.9 % $ 155,788 9.3 %
Electric 1,648,480 1,758,600 1,915,419 266,939 16.2 %156,819 8.9 %
Natural Gas 659,020 575,900 644,107 (14,913) (2.3)%68,207 11.8 %
Telephone 871,239 835,000 767,726 (103,513) (11.9)%(67,274) (8.1)%
Solid Waste (external)54,854 52,980 61,778 6,923 12.6 %8,798 16.6 %
YTD Total 4,952,918$ 4,904,880$ 5,227,218$ $ 274,300 5.5 % $ 322,338 6.6 %
June 2016
Utility Tax by Type
2015 vs. 2016 2016 vs. Budget
Percentage Percentage
10
Quarterly Financial Report Through Q2-2016
Cable TV Franchise Fees, which are collected quarterly, totaled $241,000 for Q2-2016. Year-to-date,
revenues exceed the budget of $450,000 by $37,000, or 8.3%.
11
Quarterly Financial Report Through Q2-2016
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 through June totaled $840,,000, compared to a year-to-date
budget of $648,000. Building permits issued through June total 436, and compares to 385 issued
during the same period in 2015.
12
Quarterly Financial Report Through Q2-2016
Business license revenues collected through June totaled $105,000 compared to a budget of
$137,000; these revenues were below budget by $31,000 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.
Year-to-date business license revenues are 22.9% lower than the same period in 2015. Again, this
variance is largely due to the timing of collections and is expected to be at budget by year end.
13
Quarterly Financial Report Through Q2-2016
Intergovernmental revenues include Grants (Direct & Indirect Federal, State and Local), compact
revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental, and state shared revenues.
Collections to date totaled $2.6 million, which reflects budget expectations.
Favorable variances in Motor Vehicle Fuel Tax revenue and Liquor Excise revenue more than offset
the reduced revenues received in Federal grant monies and Streamlined Sales Tax.
During the state’s 2015-16 fiscal year budget cycle, the City of Auburn did not qualify for Criminal
Justice High Crime revenues because the City’s crime rate for the prior reporting period did not
exceed the statewide average. Therefore, the City of Auburn did not receive these distributions for
reporting periods Q3-2015 through Q2-2016. Effective for the state’s 2016-17 fiscal year (July 1, 2016
through June 30, 2017), the City of Auburn again qualifies for this distribution. Revenues for the
remaining two quarters of 2016 will be reflected in the associated quarterly financial reports.
2015 2016 2016
Revenue Actual Budget Actual Amount Amount
Federal Grants 67,622$ 107,300$ 95,083$ $ 27,461 40.6 % $ (12,217)(11.4)%
State Grants 118,572 83,900 80,896 (37,676) (31.8)%(3,004) (3.6)%
Muckleshoot Casino Emerg.296,987 315,000 324,419 27,433 9.2 %9,419 3.0 %
Intergovernmental Service 8,556 4,679 0 (8,556) (100.0)%(4,679) (100.0)%
State Shared Revenues:#DIV/0! ###DIV/0!
Streamlined Sales Tax 980,842 1,005,500 962,037 (18,805) (1.9)%(43,463) (4.3)%
Motor Vehicle Fuel Tax 495,526 503,200 538,381 42,855 8.6 %35,181 7.0 %
Criminal Justice - High Crime 96,509 48,000 0 (96,509) (100.0)%(48,000) (100.0)%
Criminal Justice - Population 9,742 8,800 10,151 409 4.2 %1,351 15.4 %
Criminal Justice - Special Prog.35,793 33,200 37,115 1,322 3.7 %3,915 11.8 %
Marijuana Enforcement 0 9,800 9,757 9,757 #DIV/0! ##(43) (0.4)%
State DUI 6,560 7,300 5,907 (653) (9.9)%(1,393) (19.1)%
Fire Insurance Tax 75,702 70,000 76,569 867 1.1 %6,569 9.4 %
Liquor Excise 83,566 151,305 180,280 96,714 115.7 %28,975 19.1 %
Liquor Profit 327,019 316,750 325,653 (1,366) (0.4)%8,903 2.8 %
Total State Shared:2,111,259 2,153,855 2,145,849 34,590 1.6 %(8,006) (0.4)%
YTD Total 2,602,995$ 2,664,734$ 2,648,748$ 45,752$ 1.8 %(15,986)$ (0.6)%
June 2016
Intergovernmental
2016 vs. 2015 Actual 2016 vs. Budget
% Change % Change
14
Quarterly Financial Report Through Q2-2016
Charges for Services consist of general governmental services, public safety, development service
fees and cultural & recreation fees. Overall, charges for services collected through Q2-2016 totaled
$2.3 million compared to a budget of $1.8 million. Total revenues collected thus far exceed budget by
$500,000, or 28.5%.
General governmental revenues through Q2-2016 totaled $46,000 compared to a budget of $38,000.
Budget expectations for these revenues were revised from the prior year due to the fact that the
City no longer provides services to the City of Algona; therefore the City does not receive
reimbursement for services.
Public safety revenues collected year-to-date totaled $342,000, compared to budget of $260,000.
Public safety revenues consist of revenues generated for Police Officer extra duty overtime, where
officers are contracted for services and reimbursement is made by the hiring contractor. Effective
June 2014, public safety revenue also includes reimbursement from the Muckleshoot Indian Tribe
(MIT) for a full-time dedicated Police Officer and associated expenditures.
2015 2016 2016
Revenue Actual Budget Actual Amount Amount
General Government 43,704$ 37,600$ 46,237$ $ 2,534 5.8 % $ 8,637 23.0 %
Public Safety 287,517 260,149 342,281 54,764 19.0 %82,132 31.6 %
Development Services 715,082 368,100 615,814 (99,268) (13.9)%247,714 67.3 %
Culture & Recreation 1,236,235 1,089,000 1,251,074 14,838 1.2 %162,074 14.9 %
YTD Total 2,282,538$ 1,754,849$ 2,255,406$ (27,132)$ (1.2)% $ 500,557 28.5 %
June 2016
Charges for Services by Type
2016 vs. 2015 Actual 2016 vs. Budget
Percentage Percentage
15
Quarterly Financial Report Through Q2-2016
Development services fee collections, which primarily consist of plan check fees, totaled $616,000
and exceeded budget by $248,000. Plan check fees collected year-to-date total $453,000, compared
to a budget of $275,000.
16
Quarterly Financial Report Through Q2-2016
Culture and recreation revenues totaled $1.3 million and exceeded year-to-date budget by $162,000,
or 14.9 %. A substantial portion of this favorable variance was due to recreational classes, where year-
over-year revenues have increased $79,000. Additionally, revenues collected through the second
quarter for the Cultural Arts program and Auburn Avenue Theater classes have exceeded their year-
end budget expectations, reflecting higher than anticipated participation.
17
Quarterly Financial Report Through Q2-2016
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 through Q2-2016 totaled $450,000, compared to a budget of $419,000.
2015 2016 2016
Month Actual Budget Actual Amount Amount
Civil Penalties 6,069$ 7,900$ 5,151$ $ (918)(15.1)% $ (2,749)(34.8)%
Civil Infraction Penalties 273,741 245,300 235,442 (38,300) (14.0)%(9,859) (4.0)%
Redflex Photo Enforcement 1,766 0 10,849 9,083 514.3 %10,849 #DIV/0!
Parking Infractions 67,867 51,700 70,624 2,757 4.1 %18,924 36.6 %
Criminal Traffic Misdemeanor 29,317 26,400 24,757 (4,560) (15.6)%(1,643) (6.2)%
Criminal Non-Traffic Fines 25,129 23,800 22,156 (2,973) (11.8)%(1,644) (6.9)%
Criminal Costs 30,829 24,200 29,751 (1,078) (3.5)%5,551 22.9 %
Non-Court Fines & Penalties 51,259 39,400 51,178 (81) (0.2)%11,778 29.9 %
YTD Total 485,978$ 418,700$ 449,907$ $ (36,071)(7.4)% $ 31,207 7.5 %
June 2016
Fines & Forfeits by Type
2016 vs. 2015 Actual 2016 vs. Budget
Percentage Percentage
18
Quarterly Financial Report Through Q2-2016
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 through Q2-2016 totaled
$600,000 and exceeded budget expectations by $203,000, or 51.2%. Primary contributors to this
revenue performance include investment income, which has already exceeded annual budgeted
revenue, and parking garage permits, which has year-to-date revenue of nearly double the annual
budget of $8,000. Facilities rental revenues are also higher than anticipated after an increase in
demand during the late spring and early summer.
2015 2016 2016
Month Actual Budget Actual Amount Amount
Interest & Investments 23,497$ 15,000$ 54,747$ 31,249$ 133.0 %39,747$ 265.0 %
Rents & Leases 301,118 294,500 373,158 72,040 23.9 %78,658 26.7 %
Contributions & Donations 20,852 17,300 11,818 (9,034)(43.3)%(5,482) (31.7)%
Other Miscellaneous Revenue 102,512 70,000 160,111 57,599 56.2 %90,111 128.7 %
YTD Total 447,979$ 396,800$ 599,833$ 151,854$ 33.9 %203,033$ 51.2 %
Miscellaneous Revenues by Type
June 2016
2016 vs. 2015 2016 vs. Budget
Percentage Percentage
19
Quarterly Financial Report Through Q2-2016
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund and is
used for governmental capital projects. REET revenues collected through Q2-2016 totaled $2.1 million
and exceeded budgeted amounts by $503,000, or 31.9%. Year-to-date revenues were lower than the
same period in 2015, which saw the sale of several large businesses in the City, to include the Outlet
Collection – Seattle and the Lakeland Town Center. Real estate sales in the City of Auburn in Q2-2016
included the sale of both commercial and single family residences.
2015 2016 2016
Month Actual Budget Actual Amount Amount
Jan 125,089$ 97,600$ 339,594 214,505$ 171.5 %241,994$ 247.9 %
Feb 115,287$ 128,900$ 286,943 171,656 148.9 %158,043 122.6 %
Mar 1,394,226$ 602,800$ 293,361 (1,100,865) (79.0)%(309,439) (51.3)%
Apr 423,394$ 244,300$ 574,925 151,531 35.8 %330,625 135.3 %
May 345,489$ 234,700$ 255,078 (90,410) (26.2)%20,378 8.7 %
Jun 436,101$ 267,800$ 329,081 (107,020) (24.5)%61,281 22.9 %
Jul #N/A #N/A #N/A #N/A #N/A #N/A
Aug #N/A #N/A #N/A #N/A #N/A #N/A
Sep #N/A #N/A #N/A #N/A #N/A #N/A
Oct #N/A #N/A #N/A #N/A #N/A #N/A
Nov #N/A #N/A #N/A #N/A #N/A #N/A
Dec #N/A #N/A #N/A #N/A #N/A #N/A
YTD Total 2,839,586$ 1,576,100$ 2,078,982 (760,604) (26.8)%502,882 31.9 %
2016 vs. 2015 2016 vs. Budget
Percentage
Real Estate Excise Tax Revenues
June 2016
Percentage
20
Quarterly Financial Report Through Q2-2016
Pet Licensing
Year-to-date, 2,342 pet licenses were sold, resulting in $66,645 in revenue. For the same period in
2015, 2,563 licenses were sold, resulting in $73,605 in revenue.
2016 Budget Goal: $240,000
2016 Revenue = $66,645 2015 Revenue = $73,605
2016 Licenses Sold = 2,342 2015 Licenses Sold = 2,563
21
Quarterly Financial Report Through Q2-2016
Street Funds
This section provides financial overview of the City’s three street funds for the fiscal period ending
June 31, 2016. This City’s three street funds include the following: the Arterial Street Fund (Fund
102), the Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105). The
capital project expenditures are budgeted primarily based on the collection/disbursement average
for the same period of the prior two years.
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, and other sources. There are over 40 separate street projects budgeted in this fund in
2016. Some of these projects include the South 272nd /South 277th Street Corridor Improvement
Project, the West Main Street Multimodal Corridor and ITS Improvement Project, and the AWS
Corridor Safety Improvement Project (Muckleshoot Plaza to Dogwood).
Through June 2016, revenues collected totaled $1.9 million and compare to collections of $1.1 million
the same period in the prior year. Expenditures through June totaled $1.5 million and compare to
$1.8 million spent the same period last year.
Fund 102 - Arterial Street 2015
Summary of Sources and Uses Annual
Report Period: June 2016 Budget YTD Budget YTD Actual YTD Actual Amount
Revenues
Federal Grants 7,270,016$ 511,396$ 47,465$ 153,434$ (463,931)$ (90.7)%
State Grants 4,198,288 967,871 99,350 139,195 (868,521)
(89.7)%
Motor Vehicle Fuel and Multimodal Taxes 530,000 265,000 290,906 233,128 25,906 9.8 %
Developer Contributions 1,544,200 0 0 0 0 N/A
Miscellaneous Revenue 336,674 168,337 64,862 82,953 (103,475)
(61.5)%
Other Governmental Agencies 0 0 0 61,520 0 N/A
Public Works Trust Fund Loans 0 0 0 0 0 N/A
Operating Transfer In 3,882,586 0 712,702 450,205 712,702
N/A
Investment Income 2,000 1,000 3,132 1,664 2,132 213.2 %
Total Revenues 17,763,764$ 1,913,604$ 1,218,417$ 1,122,100$ (695,187)$ (36.3)%
Expenditures
Salary and Benefits 839,323$ 389,647$ 235,491$ 190,239$ 154,157$ 39.6 %
Services and Charges 245,000 122,500 30,036 115,536 92,464 75.5 %
Capital Outlay 17,428,903 5,083,447 1,012,136 1,286,471 4,071,311
80.1 %
Interfund Payments for Services 74,550 37,275 37,278 35,574 (3)(0.0)%
Debt Service Principal and Interest 217,862 0 210,205 218,761 (210,205)
N/A
Operating Transfer Out 0 0 0 0 0 N/A
Total Expenditures 18,805,638$ 5,632,869$ 1,525,145$ 1,846,581$ 4,107,723$ 72.9 %
Net Change in Fund Balance (1,041,874)$ (3,719,265)$ (306,728)$ (724,481)$ 3,412,536$ (91.8)%
2016 2016 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Estimated Beg. Fund Balance, April 2016 2,325,058$
Net Change in Fund Balance, June 2016 (306,728)
Ending Fund Balance, June 2016 2,018,330$
2016 Budgeted Ending Fund Balance 1,283,185$
22
Quarterly Financial Report Through Q2-2016
Notes:
The year-to-date variance is largely due to timing of project expenditures for four significant
projects, which together account for over 77% of the 2016 expenditure budget in this fund:
• S 272nd St. / S 277th St. Corridor Improvements – Environmental requirements are
delaying construction work; it is anticipated that $1.7 million out of a budget of $6.0
million will be expended in 2016.
• W Main St. Multimodal Corridor and ITS Improvements – Work began in August and is
expected to be completed in the remainder of 2016.
• AWS Corridor Safety Improvements – Project has been slowed during ROW
acquisition. Costs are anticipated to be higher than planned and may require
additional funding.
• 37th St. SE & A St. SE Traffic Signal Safety Improvements – Project is currently in the
design phase and will not be in construction until early 2017.
23
Quarterly Financial Report Through Q2-2016
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. Through June 2016 the revenues in this fund
exceeded budget expectations by $299,000, or 33.7%, due to higher than anticipated sales
tax revenues from local construction projects. Expenditures through June totaled $276,000
and compares to year to date budget of $312,000. This variance is due to timing of project
expenditures. The majority of 2016 Local Street Pavement Reconstruction Project
expenditures are anticipated to occur in Q3-2016 and Q4-2016.
Fund 103 - Local Street Fund 2015
Summary of Sources and Uses Annual
Report Period: June 2016 Budget YTD Budget YTD Actual YTD Actual Amount
Revenues
Sales Tax on Construction 1,610,000$ 737,800$ 1,033,228$ 996,884$ 295,428$ 40.0 %
Operating Transfer In 150,000 150,000 150,000 150,000 0 0.0 %
Interest Earnings 2,500 1,250 5,246 1,686 3,996
319.6 %
Total Revenues 1,762,500$ 889,050$ 1,188,474$ 1,148,570$ 299,424$ 33.7 %
Expenditures
Salary and Benefits 175,090$ 87,544.88$ 59,636$ 49,968$ 27,909$ 31.9 %
Services and Charges 300 150 407 249 (257)(171.7)%
Capital Outlay 2,376,768 357,747 209,596 354,397 148,150
41.4 %
Interfund Payments for Services 12,240 6,120 6,120 6,240 0 0.0 %
Operating Transfer Out 0 0 0 0 0 N/A
Total Expenditures 2,564,398$ 451,561$ 275,760$ 410,854$ 175,801$ 38.9 %
Net Change in Fund Balance (801,898)$ 437,489$ 912,714$ 737,716$ 475,225$ 108.6 %
2016 2016 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Estimated Beg. Fund Balance, April 2016 1,349,769$
Net Change in Fund Balance, June 2016 912,714
Ending Fund Balance, June 2016 2,262,483$
2016 Budgeted Ending Fund Balance 547,871$
24
Quarterly Financial Report Through Q2-2016
Notes:
As the YTD budget (solid gray area) shows, the bulk of capital expenditures are anticipated to occur
in the last several months of the year. The year-to-date variance is largely due to timing of project
expenditures for the 2016 Local Street Pavement Reconstruction Project, where expenditures are
anticipated to occur in Q3-2016 and Q4-2016.
25
Quarterly Financial Report Through Q2-2016
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 2016 include Pavement Patching and Overlay, the Annual Arterial and Collector
Crack Seal Project, the Auburn Way North Preservation Project and the B Street NW Reconstruction
Project. Through June 2016 revenues totaled $1.1 million and compare to budget of $1.3 million.
Expenditures through June totaled $354,000, which is approximately 25% of year-to-date budgeted
expenditure. This is due to the the Fund’s main project, Auburn Way North Preservation, being
repackaged and sent to bid a second time after the first round of bidding produced higher than
expected costs. This is anticipated to be rebid in February 2017. The Fund’s next-largest project, B
Street NW Reconstruction, remains in the design phase. Construstion on this project is anticipated to
start in March 2017.
Fund 105 - Arterial St. Presv. 2015
Summary of Sources and Uses Annual
Report Period: June 2016 Budget YTD Budget YTD Actual YTD Actual Amount
Revenues
City Utility Tax 589,000$ 281,300$ 306,365$ 286,554$ 25,065$ 8.9 %
Electric Utility Tax 660,500 352,200$ 383,084 329,696 30,884
8.8 %
Natural Gas Utility Tax 170,400 115,500 128,821 131,804 13,321
11.5 %
Cable TV Tax 181,300 90,000 98,361 91,872 8,361 9.3 %
Telephone Utility Tax 324,000 169,900 153,545 174,248 (16,355)
(9.6)%
Garbage Utility Tax (External Haulers)17,700 8,850 10,296 9,142 1,446 16.3 %
Grants 1,053,626 286,201 0 0 (286,201)(100.0)%
Developer Mitigation Fees 0 0 0 0 0 N/A
Operating Transfer In 0 0 0 0 0 N/A
Interest Earnings 1,500 750 4,121 1,923 3,371 449.5 %
Total Revenues 2,998,026$ 1,304,701$ 1,084,593$ 1,025,239$ (220,108)$ (16.9)%
Expenditures
Salary and Benefits 124,095$ 62,047.72$ 142,976$ 81,176$ (80,928)$ (130.4)%
Supplies 0 0 0 0 0 N/A
Services and Charges 150,000 75,000 0 0 75,000 N/A
Capital Outlay 4,610,726 1,252,430 45,323 1,590,512 1,207,107
96.4 %
Operating Transfer Out 401,750 0 165,226 0 (165,226)N/A
Total Expenditures 5,286,571$ 1,389,478$ 353,525$ 1,671,688$ 1,035,953$ 74.6 %
Net Change in Fund Balance (2,288,545)$ (84,777)$ 731,068$ (646,449)$ 815,845$ (962.3)%
2016 2016 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Estimated Beg. Fund Balance, April 2016 2,306,928$
Net Change in Fund Balance, June 2016 731,068
Ending Fund Balance, June 2016 3,037,996$
2016 Budgeted Ending Fund Balance 18,382$
26
Quarterly Financial Report Through Q2-2016
Notes:
The year-to-date variance is primarily due to two major projects. This main project, Auburn Way
North Preservation, is being repackaged and sent to bid a second time after the first round of
bidding produced higher than expected costs. This is anticipated to be rebid in February 2017. The
second project, B Street NW Reconstruction, remains in the design phase; construction on this
project is anticipated to start in March 2017. Funds for both projects will be carried forward into next
year.
27
Quarterly Financial Report Through Q2-2016
Fund 124 – Mitigation Fees
The Mitigation Fees Fund is a Special Revenue Fund funded from revenue from new development,
which is assessed at the time applications are received for development activity. These funds are
used to mitigate costs associated with City growth. Through Q2-2016, revenues were above budget
expectations, at 80.9% of the annual budgeted amount. Expenditures year-to-date are well below
budget due to delays in construction projects.
Fund 124 - Mitigation FeesSummary of Sources and UsesReport Period Through:Ending EndingMarch 2016 Fund Balance Fund Balance
Transportation Impact Fees 590,330$ 547,476$ 3,724,939$ 800,000$ 3,106,075$ 1,333,590$
Transportation Migitation Fees -$ -$ 257,710$ -$ 73,144$ 184,566$
Fire Impact Fees 42,250$ -$ 356,470$ 100,000$ 50,000$ 364,220$
Fire Mitigation Fees -$ -$ 82$ -$ -$ 82$
Parks Impact Fees 354,598$ 30,508$ 1,447,303$ 75,000$ 300,000$ 898,213$
Parks Mitigation Fees -$ -$ 330,319$ -$ -$ 330,319$
School Impact Admin Fees 6,604$ -$ 84,719$ 15,000$ -$ 93,115$
Wetland Mitigation Fees -$ -$ 68,626$ -$ -$ 68,626$
Interest and Investment Income 12,095$ -$ 12,095$ 4,890$ -$ 4,890$
Fees in Lieu of Improvements 122,525$ -$ 122,525$ -$ -$ -$
Operating Transfers -$ -$ -$ 400,000$ -$ 400,000$
Total 1,128,402$ 577,984$ 6,404,788$ 1,394,890$ 3,529,219$ 3,677,621$
Beginning Fund Balance, January 1, 2016 5,854,369$
Net Change in Fund Balance, June 2016 550,418$
Ending Fund Balance, June 2016 6,404,787$
YTD ACTUALS BUDGET
Revenues Expenditures Revenues Expenditures
28
Quarterly Financial Report Through Q2-2016
Proprietary Funds
Detailed income and expense statements for Enterprise and Internal Service funds can be found in
the Appendices at the end of this report. The format changed in Q1-2016 and, in lieu of a working
capital statement, there are now operating and capital fund reports for most of these funds showing
budget, actual and variance. The operating fund houses all the operating costs along with debt
service and financing obligations. The capital fund shows costs associated with capital acquisition
and construction. Both the operating fund and the capital fund have a working capital balance. This
approach isolates those funds available for capital and cash flow needs for daily operations, and
project managers will know how much working capital is available for current and planned projects.
Budget Amendment #6, adopted July 2016, moved working capital from the operating funds to the
capital funds along with all the other beginning fund balance adjustments. System development
revenues previously credited to the operating funds are now directed to the corresponding capital
funds.
At the end of the second quarter, the Water Utility had operating income of $1.9 million as compared
with operating income of $1.4 million for the same period in 2015. Water sales through Q2-2016
totaled 1.6 million hundred cubic feet (ccf), compared to 1.5 million ccf during the same period in
2015, representing a 6.7% increase. Year to date revenues are slightly (0.7%) below budget but it is too
early to tell whether this trend will continue for the balance of the year since August through
October are typically the high revenue months.
The Sewer Utility ended the quarter with net operating income of $1.2 million, which is $300,000
higher than the same period in 2015.
The Sewer-Metro Utility ended the quarter with a quarterly net operating income of $192,000, as
compared with an operating loss of $173,000 through Q2-2015.
The Stormwater Utility ended Q2-2016 with $1.4 million in operating income, which is about $1.3
million below the same period in 2015. This is due in large part to the receipt of about $800,000 in
grant revenues from the Department of Ecology in Q2-2015.
29
Quarterly Financial Report Through Q2-2016
The Cemetery Fund ended the second quarter with operating income of $178,000 as compared with
operating income of $94,000 for the same period in 2015. Year-to-date operating revenues totaled
$757,000, compared to $592,000 in 2015, representing an increase of 27.8%.
Operating expenditures totaled 579,000 in through Q2-2016, compared to 497,000 in the same
period last year. The increase is mainly a result of higher cost of supplies due to increased inventory
costs associated with higher demand.
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 2016. 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.
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.
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecThousandsCemetery
2016 YTD Budget
Revenue
2016 YTD Actual
Revenue
2015 YTD Actual
Revenue
2016 YTD Actual
Expenses
Cumulative Revenues & Expenditures
2016 Budget vs. Actual
30
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 102,384,608$ Various 0.49%
KeyBank Money Market Various 15,458,967 Various 0.02%
FNMA 3/11/2016 998,844 2/22/2019 1.20%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 119,078,338$ 0.441%
Investment Mix % of Total
State Investment Pool 86.0%Current 6-month treasury rate 0.40%
KeyBank Money Market 13.0%Current State Pool rate 0.49%
US Treasury 0.0%KeyBank Money Market 0.02%
FNMA 0.8%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
June 30, 2016
Summary
31
32
Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance
430 430 431 431 433 433 432 432
OPERATING FUND:460 460 461 461 462 462
OPERATING REVENUES
Charges For Service 13,698,782 6,360,194 (7,338,588) 7,847,883 4,177,159 (3,670,724) 16,332,687 8,367,931 (7,964,756) 9,151,487 4,766,871 (4,384,616)
Grants - - - 50,000 (50,000)
Interest Earnings 7,735 19,770 12,035 10,697 26,360 15,663 700 2,406 1,706 13,865 28,605 14,740
Operating Transfers
Rents, Leases, Concessions, & Other 206,854 356,361 149,507 70,128 428,007 357,879 - 58,674 486,102 427,428
TOTAL OPERATING REVENUES 13,913,371 6,736,325 (7,177,046) 7,928,708 4,631,526 (3,297,182) 16,333,387 8,370,338 (7,963,049) 9,274,026 5,281,578 (3,992,448)
OPERATING EXPENSES
Salaries & Wages 2,587,276 1,264,661 1,322,615 1,758,478 838,242 920,236 - - - 2,397,119 1,277,914 1,119,205
Benefits 1,251,312 578,684 672,628 871,146 388,502 482,645 - - - 1,224,350 584,179 640,172
Supplies 321,994 141,754 180,240 130,500 27,745 102,755 - - - 94,300 45,470 48,830
Other Service Charges 5,185,175 1,828,899 3,356,276 2,723,275 1,203,382 1,519,893 - - - 1,670,215 608,671 1,061,544
Capital - 26,451 (26,451) - (0) 0 - - - - 2,771 (2,771)
Intergovernmental Services 133,960 63,251 70,709 172,008 99,135 72,872 415,980 245,263 170,717
Waste Management Payments
Sewer Metro Services 16,317,200 8,178,322 8,138,878
Debt Service Principal 1,702,563 572,855 1,129,708 541,127 288,262 252,865 - - - 413,162 - 413,162
Debt Service Interest 1,006,253 54,990 951,263 277,082 14,776 262,306 - - - 360,525 - 360,525
Interfund Loan Repayment - - -
Interfund Operating Rentals & Supplies 1,276,967 638,512 638,455 952,338 476,451 475,887 - - - 1,312,518 657,177 655,341
TOTAL OPERATING EXPENSES 13,465,499 5,170,055 8,295,444 7,425,954 3,336,495 4,089,460 16,317,200 8,178,322 8,138,878 7,888,169 3,421,444 4,466,725
NET INCOME BEFORE DEPRECIATION (*)447,873 1,566,270 1,118,398 502,754 1,295,031 792,277 16,187 192,016 175,829 1,385,857 1,860,134 474,278
BEGINNING WORKING CAPITAL - January 1, 2016 4,371,774 4,191,201 (180,573) 7,405,717 4,262,859 (3,142,858) 2,145,237 2,358,518 213,281 7,371,777 1,914,968 (5,456,809)
ENDING WORKING CAPITAL - June 30, 2016 4,819,646 5,757,471 937,825 7,908,471 5,557,890 (2,350,581) 2,161,424 2,550,534 389,110 8,757,634 3,775,103 (4,982,531)
NET CHANGE IN WORKING CAPITAL (see Note)447,872 1,566,270 1,118,398 502,754 1,295,031 792,277 16,187 192,016 175,829 1,385,857 1,860,134 474,278
(3,883,943) 7,496,902 9,925,599
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue 1,265 - (1,265) 2,303 - (2,303) 2,135 - (2,135)
Contributions - - - - - - - - -
Other Non-Operating Revenue - - - - - - - - -
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - -
Increase In Contributions - System Development 350,000 12,846 (337,154) 240,000 9,472 (230,528) 350,000 10,710 (339,290)
Increase In Contributions - Other - - - - - - - - -
Proceeds of Debt Activity 4,070,037 - (4,070,037) - - - - - -
Operating Transfers In - - - - - - - - -
Other Sources - - - - - - - - -
TOTAL CAPITAL REVENUES 4,421,302 12,846 (4,408,456) 242,303 9,472 (232,831) 352,135 10,710 (341,425)
CAPITAL EXPENSES
Other Non-Operating Expense - - - - - - - - -
Net Change In Restricted Net Assets - - -
Increase In Fixed Assets - Salaries 245,725 122,848 122,877 230,786 47,431 183,355 294,980 28,949 266,031
Increase In Fixed Assets - Benefits 81,637 50,544 31,093 76,412 20,700 55,712 97,969 12,785 85,184
Increase In Fixed Assets - Site Improvements - 13,035 (13,035) - - - - -
Increase In Fixed Assets - Land - - - -
Increase In Fixed Assets - Equipment - - -
Increase In Fixed Assets - Construction 8,989,179 2,866,563 6,122,616 3,831,262 428,827 3,402,435 4,390,563 322,985 4,067,578
Operating Transfers Out - - - - - - - - -
TOTAL CAPITAL EXPENSES 9,316,541 3,052,990 6,263,550 4,138,460 496,957 3,641,503 4,783,512 364,720 4,418,792
BEGINNING WORKING CAPITAL - January 1, 2016 1,513,225 5,070,000 3,556,775 3,900,520 3,900,520 - 2,498,483 4,128,845 1,630,362
ENDING WORKING CAPITAL - June 30, 2016 (3,382,014) 2,029,855 5,411,869 4,363 3,413,035 3,408,672 (1,932,894) 3,774,835 5,707,729
NET CHANGE IN WORKING CAPITAL (see Note)(4,895,239) (3,040,144) 1,855,094 (3,896,157) (487,485) 3,408,672 (4,431,377) (354,010) 4,077,367
11,129,872 (3,641,397) (3,990,301)
Total Change in Working Capital (4,447,366) (1,473,874) 2,973,492 (3,393,403) 807,546 4,200,949 16,187 192,016 175,829 (3,045,520) 1,506,125 4,551,645
(*) Depreciation 2,726,100 1,511,592 2,104,200 1,098,426 - - 1,688,400 975,604
Beginning balances were posted as part of BA#6 in early July.
Note: Working Capital = Current Assets
minus Current Liabilities
ENTERPRISE FUNDSOPERATING & CAPITAL FUNDS
WATER SEWER SEWER METRO STORMthrough June 2016
8/22/2016 6:59 AM33
OPERATING FUND:
OPERATING REVENUES
Charges For Service
Grants
Interest Earnings
Operating Transfers
Rents, Leases, Concessions, & Other
TOTAL OPERATING REVENUES
OPERATING EXPENSES
Salaries & Wages
Benefits
Supplies
Other Service Charges
Capital
Intergovernmental Services
Waste Management Payments
Sewer Metro Services
Debt Service Principal
Debt Service Interest
Interfund Loan Repayment
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
NET INCOME BEFORE DEPRECIATION (*)
BEGINNING WORKING CAPITAL - January 1, 2016
ENDING WORKING CAPITAL - June 30, 2016
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Contributions
Other Non-Operating Revenue
Gain (Loss) On Sale Of Fixed Assets
Increase In Contributions - System Development
Increase In Contributions - Other
Proceeds of Debt Activity
Operating Transfers In
Other Sources
TOTAL CAPITAL REVENUES
CAPITAL EXPENSES
Other Non-Operating Expense
Net Change In Restricted Net Assets
Increase In Fixed Assets - Salaries
Increase In Fixed Assets - Benefits
Increase In Fixed Assets - Site Improvements
Increase In Fixed Assets - Land
Increase In Fixed Assets - Equipment
Increase In Fixed Assets - Construction
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2016
ENDING WORKING CAPITAL - June 30, 2016
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
Note: Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
through June 2016
Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance
434 434 435 435 436 436 501 501
464 464 465 465 466 466 -
13,317,100 6,918,060 (6,399,040) 747,400 404,818 (342,582) 878,000 756,278 (121,722) - - -
109,000 7,038 (101,962) - - - - -
1,300 6,665 5,365 969 1,631 662 300 1,039 739 1,000 1,485 485
300,000 -
- - - 500 4,007 3,507 - 20 20 -
13,427,400 6,931,764 (6,495,636) 748,869 410,457 (338,412) 1,178,300 757,338 (120,962) 1,000 1,485 485
406,645 204,198 202,447 25,723 13,969 11,753 453,837 239,741 214,096 - - -
206,181 92,698 113,482 10,496 4,734 5,762 258,783 123,277 135,505 215,000 81,399 133,601
34,200 6,894 27,306 2,000 175 1,825 191,300 138,647 52,653 - - -
1,387,775 3,343,015 (1,955,240) 463,050 221,302 241,748 151,700 51,559 100,141 3,900 518,270 (514,370)
- - - -
420,600 90,536 330,064 - - - - - - - - -
10,645,300 1,716,053 8,929,247
- - - 150,000 - 150,000 - - - - - -
- - - 35,693 - 35,693 0 - 0 - - -
39,947 - 39,947 - -
104,209 52,098 52,111 - - - 50,740 25,368 25,372 - - -
13,204,910 5,505,492 7,699,417 726,908 240,182 486,727 1,106,360 578,593 527,767 218,900 599,668 (380,768)
222,490 1,426,272 1,203,781 21,961 170,275 148,314 71,940 178,745 106,805 (217,900) (598,183) (380,283)
3,082,277 3,082,277 - 273,835 273,835 - 340,685 105,646 (235,039) 1,436,157 1,530,589 94,432
3,304,767 4,508,548 1,203,781 295,796 444,110 148,314 412,625 284,392 (128,234) 1,218,257 932,406 (285,851)
222,490 1,426,272 1,203,781 21,961 170,275 148,314 71,940 178,745 106,805 (217,900) (598,183) (380,283)
194,321 13,997 245,776
31 - (31) - - -
14,456 3,924 (10,532) - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - 300,000 - (300,000)
- - - 340,685 - (340,685)
278,321 74,557 (203,764) 640,685 - (640,685)
- - - - - -
- -
- - - - - -
- - - - - -
- -
- - - - - -
- -
469,911 118,777 351,134 0 14,541 (14,541)
- - - - - -
469,911 118,777 351,134 0 14,541 (14,541)
- 184,621 184,621 - 270,000 270,000
(191,590) 140,401 331,991 640,685 255,459 (385,226)
(191,590) (44,220) 147,370 640,685 (14,541) (655,226)
(218,883) (270,000)
222,490 1,426,272 (169,629) 126,055 295,684 712,625 164,205 (548,421) (217,900) (598,183) (380,283)
20,000 9,410 426,100 227,536 58,300 25,196 - -
Beginning balances were posted as part of BA#6 in early July.
ENTERPRISE FUNDS
SOLID WASTE AIRPORT CEMETERY INSURANCE
INTERNAL SERVICE FUNDS
8/22/2016 6:59 AM34
OPERATING FUND:
OPERATING REVENUES
Charges For Service
Grants
Interest Earnings
Operating Transfers
Rents, Leases, Concessions, & Other
TOTAL OPERATING REVENUES
OPERATING EXPENSES
Salaries & Wages
Benefits
Supplies
Other Service Charges
Capital
Intergovernmental Services
Waste Management Payments
Sewer Metro Services
Debt Service Principal
Debt Service Interest
Interfund Loan Repayment
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
NET INCOME BEFORE DEPRECIATION (*)
BEGINNING WORKING CAPITAL - January 1, 2016
ENDING WORKING CAPITAL - June 30, 2016
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Contributions
Other Non-Operating Revenue
Gain (Loss) On Sale Of Fixed Assets
Increase In Contributions - System Development
Increase In Contributions - Other
Proceeds of Debt Activity
Operating Transfers In
Other Sources
TOTAL CAPITAL REVENUES
CAPITAL EXPENSES
Other Non-Operating Expense
Net Change In Restricted Net Assets
Increase In Fixed Assets - Salaries
Increase In Fixed Assets - Benefits
Increase In Fixed Assets - Site Improvements
Increase In Fixed Assets - Land
Increase In Fixed Assets - Equipment
Increase In Fixed Assets - Construction
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2016
ENDING WORKING CAPITAL - June 30, 2016
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
Note: Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
through June 2016
Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance Budget YTD
Actual Variance
503 503 505 505 518 518 550 550
- - 568 568 560 560
743,000 415,582 (327,418) 3,495,900 1,700,661 (1,795,239) 5,531,965 2,730,065 (2,801,900) 3,371,780 1,652,192 (1,719,588)
- - - - - -
100 1,626 1,526 2,500 5,165 2,665 3,088 6,926 3,838 4,048 11,422 7,374
137,950 2,500 428,997 139,749
120,000 28,149 (91,851) - - - - - 278 278
863,100 445,357 (417,743) 3,498,400 1,705,826 (1,792,574) 5,673,003 2,739,492 (2,798,061) 3,804,825 1,803,641 (1,711,936)
84,590 35,824 48,766 707,569 326,664 380,906 1,711,060 809,381 901,680 593,881 282,101 311,780
367,005 95,263 271,742 390,621 169,937 220,684 708,330 328,520 379,811 314,545 142,408 172,138
- - - 128,200 93,388 34,812 431,480 166,640 264,840 1,341,600 406,213 935,387
402,715 179,490 223,225 2,350,990 1,062,156 1,288,834 2,737,121 1,495,122 1,241,999 377,500 125,806 251,694
- - - - - - 319,745 (319,745)
- - - 810,827 - 810,827 - - - 626,392 - 626,392
- - - - - - - - - 39,107 - 39,107
- - - - - - - - - 5,033 2,663 2,370
- - - -
- - - 110,841 55,422 55,419 160,790 80,394 80,396 212,390 106,291 106,099
854,310 310,577 543,733 4,499,048 1,707,567 2,791,482 5,748,782 2,880,056 2,868,726 3,510,449 1,385,226 2,125,223
8,790 134,780 125,990 (1,000,648) (1,741) 998,907 (75,779) (140,564) (64,785) 294,376 418,415 124,038
483,503 778,233 294,730 2,583,663 2,410,754 (172,909) 2,386,387 2,305,195 (81,192) 2,095,085 2,974,119 879,034
492,292 913,013 420,720 1,583,014 2,409,013 825,998 2,310,608 2,164,631 (145,977) 2,389,461 3,392,534 1,003,072
8,790 134,780 125,990 (1,000,648) (1,741) 998,907 (75,779) (140,564) (64,785) 294,376 418,415 124,038
1,291,644 2,748,906
412 - (412) 1,652 - (1,652)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
412 - (412) 1,652 - (1,652)
- - - - - -
- -
- - - - - -
- - - - - -
- -
- - - -
1,229,579 534,763 694,816 2,590,263 739,527 1,850,736
- 723,002 55,241 667,761
- - - - - -
1,229,579 534,763 694,816 3,313,265 794,768 2,518,497
479,588 1,400,000 920,412 1,836,396 3,100,001 1,263,605
(749,579) 865,237 1,614,816 (1,475,217) 2,305,232 3,780,449
(1,229,167) (534,763) 694,404 (3,311,613) (794,768) 2,516,845
(924,827) (2,385,344)
8,790 134,780 125,990 (1,000,648) (1,741) 998,907 (1,304,946) (675,327) 629,619 (3,017,237) (376,354) 2,640,883
- - - - 546,400 329,148 822,500 486,393
Beginning balances were posted as part of BA#6 in early July.
WORKER'S COMPENSATION FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL
INTERNAL SERVICE FUNDS
8/22/2016 6:59 AM35