HomeMy WebLinkAboutQ1 2017 - Financial Report
AGENDA BILL APPROVAL FORM
Agenda Subject: 1st Quarter 2017 Financial Report Date: June 7, 2017
Department: Finance
Attachments: Quarterly Financial
Report
Budget Impact: $0
Administrative Recommendation: For discussion only.
Background Summary:
The quarterly financial report summarizes the general state of Citywide financial affairs and highlights
significant items or trends that the City Council should be aware of. The attachment provides the first
quarter 2017 status report based on financial data available as of April 26, 2017 for the period ending
March 31, 2017 and sales tax information representing business activity that occurred through January
2017.
Staff: Coleman
Meeting Date: June 12, 2017 Item Number:
Quarterly Financial Report Through Q1-2017
General Fund Summary
Property TaxesSales TaxesOther TaxesIntergovernmental(Grants, etc.)DevelopmentService FeesCulture &RecreationOther Fees& ChargesOtherRevenuesPersonnelSupplies& ServicesIntergovernmentalOther ExpendituresRevenues Expenditures
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Revenues and Expenditures
(Through Q1-2017)
$11.8
$16.2$12.0 $15.1
Total
Revenues
Total
Expenditures
$0
$5
$10
$15
$20
MillionsCouncil& MayorAdministrativeServicesCommunity &Human ServicesMunicipal Court& ProbationHumanResourcesFinanceCity AttorneyCommunityDevelopmentJail - SCOREPolicePublic WorksParks, Arts& RecreationStreetsNon-Departmental$0
$1
$2
$3
$4
$5
$6
$7
$8
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Expenditures by Department
(Through Q1-2017)
1
Quarterly Financial Report Through Q1-2017 2
March 2017 Financial Report
General Fund 2016
Summary of Sources and Uses Annual
Budget YTD Budget YTD Actual YTD Actual Amount
Operating Revenues
Property Tax 6 20,152,000$ 906,300$ 846,551$ 796,137$ (59,749)(6.6)%
Sales Tax 7-9 14,821,000 3,703,400 3,784,676 3,691,967 81,276 2.2 %
Sales Tax - Annexation Credit 2,032,100 500,800 519,863 496,407 19,063 3.8 %
Criminal Justice Sales Tax 1,889,400 463,600 501,883 484,107 38,283 8.3 %
Brokered Natural Gas Tax 351,800 123,200 61,831 88,617 (61,369)(49.8)%
City Utilities Tax 10-11 3,671,300 819,100 889,876 865,034 70,776 8.6 %
Admissions Tax 317,000 49,300 87,024 49,849 37,724 76.5 %
Electric Tax 10 3,560,000 877,800 878,558 888,465 758 0.1 %
Natural Gas Tax 10 1,001,200 267,900 227,755 257,763 (40,145)(15.0)%
Cable Franchise Fee 12 971,500 240,900 253,341 245,425 12,441 5.2 %
Cable Utility Tax - New 2017 13 1,000,000 250,000 - - (250,000)(100.0)%
Cable Franchise Fee - Capital 66,200 16,550 16,639 16,561 89 0.5 %
Telephone Tax 10 1,451,800 405,500 362,726 405,093 (42,774)(10.5)%
Garbage Tax (external)10 120,000 30,000 31,394 30,540 1,394 4.6 %
Leasehold Excise Tax 40,000 8,300 13,689 16,208 5,389 64.9 %
Gambling Excise Tax 300,300 75,100 99,649 164,088 24,549 32.7 %
Taxes sub-total 51,745,600$ 8,737,750$ 8,575,455$ 8,496,259$ (162,295)(1.9)%
Business License Fees 13-14 222,100$ 83,100$ 91,337$ 73,583$ 8,237 9.9 %
Building Permits 15-16 1,575,000 277,100 313,482 238,584 36,382 13.1 %
Other Licenses & Permits 541,600 104,500 128,050 125,959 23,550 22.5 %
Intergovernmental (Grants, etc.)16-17 5,919,680 1,350,675 1,373,437 1,215,030 22,762 1.7 %
Charges for Services:17-20
General Government Services 17-18 60,700 19,300 20,865 25,760 1,565 8.1 %
Public Safety 17-18 495,700 112,925 234,782 159,101 121,857 107.9 %
Development Services Fees 17-19 1,007,600 250,300 201,340 252,474 (48,960)(19.6)%
Culture and Recreation 20 2,319,680 401,000 401,456 401,083 456 0.1 %
Fines and Penalties 21-22 876,100 235,800 217,273 243,206 (18,527)(7.9)%
Fees/Charges/Fines sub-total 13,018,160$ 2,834,700$ 2,982,022$ 2,734,781$ 147,322 5.2 %
Interest and Investment Earnings 22-23 69,000$ 12,500$ 35,929$ 20,517$ 23,429 187.4 %
Rents and Leases 22-23 715,300 114,000 217,707 143,068 103,707 91.0 %
Contributions and Donations 22-23 35,000 4,300 8,350 1,808 4,050 94.2 %
Other Miscellaneous 22-23 227,500 55,300 76,549 79,862 21,249 38.4 %
Transfers In 84,000 74,000 74,000 76,000 0 0.0 %
Insurance Recoveries - Capital & Operating 25,000 6,248 7,479 16,845 1,231 19.7 %
Other Revenues sub-total 1,155,800$ 266,348$ 420,014$ 338,100$ 153,666 57.7 %
Total Operating Revenues 65,919,560$ 11,838,798$ 11,977,491$ 11,569,141$ 138,694$ 1.2 %
Operating Expenditures
Council & Mayor 1,154,418$ 303,400$ 299,930$ 258,683$ 3,470 1.1 %
Administration 1,386,718 346,800 285,473 229,903 61,327 17.7 %
Community & Human Services 1,103,040 204,900 119,892 229,100 85,008 41.5 %
Municipal Court & Probation 2,502,954 229,989 143,633 131,787 86,355 37.5 %
Human Resources 1,373,171 337,500 331,369 312,488 6,131 1.8 %
Finance 1,409,534 354,200 345,821 287,781 8,379 2.4 %
City Attorney 2,279,653 557,000 477,199 469,102 79,801 14.3 %
Community Development 4,584,597 1,148,700 1,078,951 984,252 69,749 6.1 %
Jail - SCORE 3,953,150 988,288 948,718 669,912 39,570 4.0 %
Police 25,967,258 6,575,000 6,445,087 5,984,384 129,913 2.0 %
Public Works 3,547,418 875,700 662,348 720,694 213,352 24.4 %
Parks, Arts & Recreation 12,275,887 2,762,200 2,675,553 2,516,794 86,647 3.1 %
Streets 4 3,760,044 739,100 811,614 665,582 (72,514)(9.8)%
Non-Departmental 4,190,140 735,541 455,370 857,956 280,171 38.1 %
Total Operating Expenditures 69,487,982$ 16,158,317$ 15,080,961$ 14,318,419$ 1,077,356$ 6.7 %
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Page
Ref
2
Quarterly Financial Report Through Q1-2017 3
Executive Summary
This Executive Summary provides an overview of the City’s overall financial position for the
fiscal period ending March 31, 2017, reflecting financial data available as of April 26, 2017.
General Fund:
Through March 2017, General Fund revenues totaled $12.0 million compared to a budget of
$11.8 million, and were $408,000 higher than the revenues collected during the same period
last year. Some notable variances to budget year-to-date include:
• Property tax collections through Q1-2017 totaled $847,000, which was 6.6% or
$60,000 below budget expectations but exceeded collections in the same period last
year by $50,000, or 6.3%. The shortfall in relation to YTD budget expectations is a
timing issue, where 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. [page 6]
• General Fund retail sales tax revenues totaled $3.8 million, exceeding budget by 2.2%,
or $81,000, and exceeding Q1-2016 collections by $93,000. The primary area of
significant increase in sales activity compared to Q1-2016 was in the automotive
category. [pages 7-8]
• The Other Taxes category underperformed in Q1-2017 compared to budget. Actual
revenues collected through Q1-2017 in this category was $3.2 million compared to
budget of $2.9 million. The unfavorable variance to budget was $241,000. This was
a timing issue, where new revenues associated with the rate increase for the cable
utility tax (about $263,000) were not received until April. [pages 9-12]
• Building permit revenue collected through Q1-2017 totaled $313,000 compared to
collections of $239,000 for the same period last year and Q1-2017 budget of $277,000.
This revenue increase was due to higher than anticipated permitting activity.
[pages 13-14]
• Public safety revenues collected in Q1-2017 were $235,000 compared to a budget of
$113,000. Revenues collected through the first quarter of 2017 were $76,000 higher
than what was collected through Q1-2016 predominately due to additional contracted
Police extra duty security services (which are reimbursed by the hiring contractor)
compared to the same period last year. [page 16]
• Development services fee revenues collected through Q1-2017 totaled $201,000,
ending the quarter $49,000, or 19.6%, under budget expectations. This was
predominately due to lower than anticipated revenues generated from plan check
activity. [page 17]
• Rents and leases revenues ended the quarter $104,000 higher than budget. This
favorable variance is due to a combination of factors, but includes increased rentals of
City-owned facilities including the new Community and Events Center. Also, the City
now has a greater inventory of parking spaces, some of which were rented on a 12-
month term, making Q1 revenues appear higher. [page 20]
3
Quarterly Financial Report Through Q1-2017 4
General Fund expenditures through the first quarter of 2017 totaled $15.1 million compared to a
budget of $16.2 million, representing 6.7% less than year-to-date budget. All of the
departments, with the exception of the Street Department, operated within their budget through
Q1-2017. The variance in Streets was generally due to higher than average maintenance and
repair activity, including patching and traffic control on 15th Street SW, guardrail repair on Lake
Tapps Parkway, and the replacement of several light poles.
Year-to-date General Fund expenditures ended the period $763,000, or 5.3% higher than
expenditures in Q1-2016. Of the $763,000 increase compared to Q1-2016, $600,000 is related
to higher costs for salary and benefits. Several factors affected this change, including an
increase in employee salaries due to COLA (cost of living allowance) and labor contracts with
predefined COLAs; an increase in the cost of providing medical benefits to employees; and
employee retirement payouts. The remaining year-over-year increase is primarily seen in
interfund expenditures for fleet and IT, which have increased compared to 2016.
Street Funds:
The City’s three street funds are special revenue funds where the revenue sources and
expenditures are legally restricted. These funds are used for street capital construction
projects, local street repair and arterial street repair and preservation projects. In Q1-2017,
Arterial Street Fund revenues totaled $153,000 as compared to collections of $140,000 for
2016; expenditures totaled $1.2 million as compared to $516,000 in Q1-2016. Local Street
Fund revenues exceeded budget expectations the year by $233,000, or 42.4%, due to higher
than anticipated sales tax revenues from local construction projects; expenditures were $87,000
as compared with a budget of $104,000. Lastly, the Arterial Street Preservation Fund
revenues totaled $503,000 as compared to a budget of $582,000, while expenditures totaled
$79,000. Historically, the majority of expenditures in all three street funds occur during the
second half of the year, when weather conditions are optimal for pavement construction.
[pages 24–29]
$11.8 M
$16.2 M
$12.0 M
$15.1 M
$0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 $20.0
Revenues
Expenditures
$ Millions
General Fund
Q1-2017 Revenues vs. Expenditures 2017 YTD Actual
2017 YTD Budget
4
Quarterly Financial Report Through Q1-2017 5
Enterprise Funds:
The City’s seven enterprise funds account for operations with revenues primarily provided from
user fees, charges or contracts for services.
At the end of Q1-2017, the Water Fund experienced operating income before depreciation of
$1,128,000 compared to $775,000 in 2016. This variance is due to lower expenditures
compared to Q1-2016, during which the City purchased water from the City of Tacoma. The
Sewer Fund ended the quarter with operating income before depreciation of $440,000
compared to $615,000 in Q1-2016. The variance is due to a budgeted operating transfer to the
Water fund for the utilities field operations center and to the recognition of system development
charges in the Sewer Capital subfund. The Sewer-Metro Fund operating expenditures
exceeded revenues by $185,000 as compared to $40,000 in 2016. This is due to King County’s
internal billing process, and is expected to reverse by Q3-2017, consistent with prior years.
Lastly, the Stormwater Fund ended the quarter with operating income before depreciation of
$663,000 compared to $715,000 in 2016. This variance is due to a $100,000 budgeted transfer
to the Water fund for the utilities field operations center occurring in Q1-2017—less this transfer,
the Stormwater Fund ended Q1-2017 with operating income of $760,000. [pages 31–32]
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. [page 32]
Investment Portfolio:
The City’s total cash and investments at the end of the first quarter of 2017 totaled $127.5
million, compared to $114.7 million at the end of the first quarter of 2016. [attachment]
5
Quarterly Financial Report Through Q1-2017 6
General Fund
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 Q1-2017 totaled $847,000, which was 6.6% or $60,000 below
budget expectations but exceeded collections in the same period last year by $50,000, or 6.3%.
The shortfall in relation to YTD budget expectations is a timing issue, where 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.
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsProperty Taxes
2017 Budget
2017 YTD Actual
2016 Actual
$12.9
$14.4
$15.8 $17.2 $17.9
$0.8
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
2012 2013 2014 2015 2016 2017 YTDMillionsProperty Tax Revenue
Actuals
6
Quarterly Financial Report Through Q1-2017 7
Sales tax collections through Q1-2017 totaled $4.4 million, of which $3.8 million was distributed
to the General Fund and $629,000 was distributed to the Local Street Fund (SOS) program.*
Total sales tax revenue distributions to the General Fund through Q1-2017 exceeded budget
expectations by $81,000, or 2.2%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred through Q1-2017 was $628,536. 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
$16.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsSales & Use Tax
(Net of Revenue from Construction)
2017 Budget
2017 YTD Actual
2016 Actual
$13.0 $12.4
$13.9 $14.6 $14.7
$3.8
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
2012 2013 2014 2015 2016 2017 YTDMillionsSales and Use Tax
General Fund Only
Actuals
7
Quarterly Financial Report Through Q1-2017 8
The following table breaks out the City’s base sales tax, excluding Criminal Justice and
Annexation Credit Sales Tax, by major business sector.
Total sales tax revenue collected in Q1-2017 exceeded prior year collections by $142,000, or
3.3%. The business sector showing the largest increase in General Fund revenues compared
to last year was the automotive category.
Sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103) for
local street repair and maintenance, totaled $629,000, which is $104,000 more than what was
collected in Q1-2016 and is $231,000 higher than budgeted.
2016 2017
Component Group Actual Actual Amount
Construction 524,200$ 628,536$ 104,336$ 19.9 %
Manufacturing 210,717 206,450 (4,267)(2.0)%
Transportation & Warehousing 23,257 29,549 6,292 27.1 %
Wholesale Trade 295,294 311,473 16,179 5.5 %
Automotive 862,367 937,591 75,224 8.7 %
Retail Trade 1,333,483 1,342,361 8,878 0.7 %
Services 973,192 906,349 (66,843)(6.9)%
Miscellaneous 25,331 27,212 1,881 7.4 %
YTD Total 4,247,841$ 4,389,521$ 141,680$ 3.3 %
Comparison of Sales Tax Collections by SIC Group
Through March
Change from 2016
Percentage
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
$2.2
$2.4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsSales Tax on Construction Transfer
2017 Budget
2017 YTD Actual
2016 Actual
8
Quarterly Financial Report Through Q1-2017 9
Utility Taxes consist of interfund taxes on City utilities (Water, Sewer, Storm and Solid Waste)
and taxes on external utilities (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes
collected in Q1-2017 totaled $2.4 million and were $10,000 less than anticipated (0.4% variance
to budget).
$1.9 $1.8
$2.3 $2.3
$0.6
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
2012 2013 2014 2015 2016 2017 YTDMillionsSales Tax On Construction Revenue
Actuals
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsUtility Tax
2017 Budget
2017 YTD Actual
2016 Actual
9
Quarterly Financial Report Through Q1-2017 10
Favorable variances in City interfund utility tax, electric tax, and solid waste tax revenues
somewhat offset lower than expected collections for natural gas and telecommunications.
Natural gas revenues collected in Q1-2017 was $40,000 or 15.0% less than budget, and
$30,000 less than collected the same period last year.
Water revenues are cyclical and are expected to increase in the third quarter due to warmer
weather and seasonal water use.
2016 2017 2017
Utility Tax Type YTD Actual YTD Budget YTD Actual Amount Amount
City Interfund Utility Taxes 865,034$ 819,100$ 889,876$ $ 24,843 2.9 % $ 70,776 8.6 %
Electric 888,465 877,800 878,558 (9,907) (1.1)%758 0.1 %
Natural Gas 257,763 267,900 227,755 (30,008) (11.6)%(40,145) (15.0)%
Telephone 405,093 405,500 362,726 (42,367) (10.5)%(42,774) (10.5)%
Solid Waste (external)30,540 30,000 31,394 854 2.8 %1,394 4.6 %
YTD Total 2,446,894$ 2,400,300$ 2,390,309$ $ (56,585)(2.3)% $ (9,991)(0.4)%
Through March 2017
Utility Tax by Type
2017 vs. 2016 Actual 2017 vs. Budget
Percentage Percentage
$9.2 $9.5 $10.0 $9.7 $10.0
$2.4
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
2012 2013 2014 2015 2016 2017 YTDMillionsUtility Tax Revenues
Actuals
10
Quarterly Financial Report Through Q1-2017 11
Cable Franchise Fees, which are collected quarterly, totaled $253,000 and exceeded budget
by $12,000, or 5.2%.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1st Quarter 2nd Quarter 3rd Quarter 4th QuarterThousandsCable Franchise Fee
2017 Budget
2017 YTD Actual
2016 Actual
$0.8 $0.9 $0.9 $0.9 $1.0
$0.3
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2012 2013 2014 2015 2016 2017 YTDMillionsCable Franchise Fee
Actuals
11
Quarterly Financial Report Through Q1-2017 12
Cable Utility Tax (New in 2017). In September 2016, City Council approved Ordinance No.
6620, which increased the Cable Utility Tax from 1.0% to 6.0%, with the entirety of the new tax
amount benefitting the General Fund. This tax became effective on January 1, 2017 and will be
collected quarterly. Although this revenue stream appears to be unfavorable to budget through
Q1-2017, this is just a timing issue whereas the revenues for January through March 2017
($263,000) were collected in April 2017. The distribution receipted in April exceeds the budget
expectation for Q1-2017 ($250,000).
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.
Business license revenues collected through March 2017 totaled $91,000, compared to a
budget of $83,000. The first graphic on the following page 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.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1st Quarter 2nd Quarter 3rd Quarter 4th QuarterThousandsCable Utility Tax -New 2017
2017 Budget
2017 YTD Actual
2016 Actual
12
Quarterly Financial Report Through Q1-2017 13
Building permit revenues collected through March totaled $313,000, compared to a year-to-date
budget of $277,000 and $239,000 collected during the same period in 2016. 153 building
permits were issued through March 2017 as compared with 155 building permits issued through
March 2016. Although this represents a slight reduction, the construction valuation of the 2017
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$220
$240
$260
$280
$300
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecThousandsBusiness Licenses
2017 Budget
2017 YTD Actual
2016 Actual
$232 $236
$171
$282
$225
$91
$0
$50
$100
$150
$200
$250
$300
$350
2012 2013 2014 2015 2016 2017 YTDThousandsBusiness License Revenues
Actuals
13
Quarterly Financial Report Through Q1-2017 14
permits issued to date was 52.4% higher than the valuation of permits during the same period
last year.
Building permit activity through Q1-2017 included permitting for several commercial projects
such as the Multicare tenant improvement project, carports at the Villa’s complex, and tenant
improvements at the Outlet Collection for the new Dave and Buster’s restaurant. In addition,
numerous residential housing developments were permitted in Q1-2017 – most notably, Canyon
Creek, Hazel View, and Calla Crest. Of the $313,000 in building permit revenues collected in
Q1-2017, 34% was attributable to commercial projects in the City and the remaining 66% was
predominately single family housing permits.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
$2.2
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsBuilding Permits
2017 Budget
2017 YTD Actual
2016 Actual
$1.7
$2.1
$1.5
$1.2
$2.0
$0.3
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
2012 2013 2014 2015 2016 2017 YTDMillionsBuilding Permits
Actuals
14
Quarterly Financial Report Through Q1-2017 15
Intergovernmental revenues include grants (direct and indirect Federal, state and local),
compact revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental service revenues,
and state shared revenues. Collections through Q1-2017 totaled $1.4 million and were
$23,000, or 1.7% higher than anticipated. Favorable variances in Criminal Justice High Crime
revenues offset the reduced revenues received for Motor Vehicle Fuel Tax.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
Federal Grants 1,794$ -$ 3,413$ $ 1,619 90.3 % $ 3,413 N/A %
State Grants 32,824 31,000 25,576 (7,248) (22.1)%(5,424) (17.5)%
Interlocal Grants 2,500 0 0 (2,500) 0.0 %0 N/A %
Muckleshoot Casino Emerg.152,315 172,000 172,105 19,790 13.0 %105 0.1 %
Intergovernmental Service 0 0 0 0 N/A %0 N/A %
State Shared Revenues:
Streamlined Sales Tax 481,850 476,925 479,242 (2,608) (0.5)%2,317 0.5 %
Motor Vehicle Fuel Tax 269,097 288,600 263,153 (5,944) (2.2)%(25,447) (8.8)%
Criminal Justice - High Crime 0 96,000 143,245 143,245 N/A %47,245 49.2 %
Criminal Justice - Population 5,083 5,900 5,329 246 4.8 %(571) (9.7)%
Criminal Justice - Special Prog.18,586 19,600 19,388 802 4.3 %(212) (1.1)%
Marijuana Enforcement 4,878 8,500 9,832 4,953 101.5 %1,332 15.7 %
State DUI 2,972 3,000 2,938 (33) (1.1)%(62) (2.1)%
Fire Insurance Tax 0 0 0 0 N/A %0 N/A %
Liquor Excise 80,048 86,400 86,509 6,461 8.1 %109 0.1 %
Liquor Profit 163,084 162,750 162,707 (377) (0.2)%(43) (0.0)%
Total State Shared:1,025,598 1,147,675 1,172,343 146,745 14.3 %24,668 2.1 %
YTD Total 1,215,030$ 1,350,675$ 1,373,437$ 158,406$ 13.0 %22,762$ 1.7 %
Through March 2017
Intergovernmental Revenues (Grants, Entitlements & Services)
2017 vs. 2016 Actual 2017 vs. Budget
% Change % Change
$5.7
$4.8 $5.1 $5.3 $5.7
$1.4
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
2012 2013 2014 2015 2016 2017 YTDMillionsIntergovernmental Revenues
(Grants, Entitlements & Services)
Actuals
15
Quarterly Financial Report Through Q1-2017 16
Charges for Services consist of general governmental service charges, public safety charges,
development service fees, and cultural & recreation fees. Overall, charges for services
collected through March 2017 totaled $858,000 compared to budget of $784,000, representing
a favorable variance of $75,000, or 9.6%.
General governmental revenues collected through March 2017 totaled $21,000, compared to a
budget of $19,300.
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.
This also includes revenues generated for reimbursement from the Muckleshoot Indian Tribe
(MIT) for a full-time dedicated Police Officer and associated expenditures. Public safety
revenues collected through Q1-2017 were $235,000 compared to a budget of $113,000.
Revenues collected through the first quarter of 2017 were $76,000 higher than what was
collected through Q1-2016 predominately due to additional contracted Police extra duty security
services (which are reimbursed by the hiring contractor) compared to the same period last year.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
General Government 25,760$ 19,300$ 20,865$ $ (4,895)(19.0)% $ 1,565 8.1 %
Public Safety 159,101 112,925 234,782 75,681 47.6 %121,857 107.9 %
Development Services 252,474 250,300 201,340 (51,134) (20.3)%(48,960) (19.6)%
Culture & Recreation 401,083 401,000 401,456 373 0.1 %456 0.1 %
YTD Total 838,418$ 783,525$ 858,443$ 20,025$ 2.4 % $ 74,918 9.6 %
Through March 2017
Charges for Services by Type
2017 vs. 2016 Actual 2017 vs. Budget
Percentage Percentage
$3.6 $3.3
$3.9 $4.3 $4.1
$0.9
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
2012 2013 2014 2015 2016 2017 YTDMillionsCharges for Services by Type
Actuals
16
Quarterly Financial Report Through Q1-2017 17
Development services fee collections, which primarily consist of plan check fees, totaled
$201,000 and ended the quarter $49,000, or 19.6%, under budget expectations. The
underperformance to budget in this category is primarily due to lower than anticipated revenue
from plan check activity. Total plan check revenues collected through Q1-2017 totaled
$128,000 as compared with $197,000 collected the same period last year. Plan check
revenues collected through the first quarter of 2017 were primarily from residential projects,
including the Hazel View and Calla Crest housing developments.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsDevelopment Service Fees
2017 Budget
2017 YTD Actual
2016 Actual
$1.2
$1.1 $1.1
$1.4
$1.0
$0.2
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
2012 2013 2014 2015 2016 2017 YTDMillionsDevelopment Service Fees
Actuals
17
Quarterly Financial Report Through Q1-2017 18
Culture and recreation revenues collected through Q1-2017 totaled $401,000, and are on target
with budget expectations and unchanged from Q1-2016 collections. The majority of these
revenues are derived from recreational classes, greens fees at the Auburn Golf Course, and
special events.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
$2.2
$2.4
$2.6
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsCulture & Recreation
2017 Budget
2017 YTD Actual
2016 Actual
$2.0 $2.1 $2.2 $2.3 $2.3
$0.4
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
2012 2013 2014 2015 2016 2017 YTDMillionsCulture & Recreation Revenues
Actuals
18
Quarterly Financial Report Through Q1-2017 19
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 revenues collected through Q1-2017 totaled $217,000 and were
$19,000 less than budget.
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Civil Penalties 2,383$ 3,000$ 2,557$ $ 174 7.3 % $ (443)(14.8)%
Civil Infraction Penalties 125,459 128,000 135,248 9,790 7.8 %7,248 5.7 %
Redflex Photo Enforcement 7,204 0 2,707 (4,496) (62.4)%2,707 N/A %
Parking Infractions 35,130 36,500 31,782 (3,349) (9.5)%(4,718) (12.9)%
Criminal Traffic Misdemeanor 10,160 11,400 14,556 4,397 43.3 %3,156 27.7 %
Criminal Non-Traffic Fines 12,256 11,400 3,487 (8,769) (71.5)%(7,913) (69.4)%
Criminal Costs 16,111 11,900 11,573 (4,538) (28.2)%(327) (2.7)%
Non-Court Fines & Penalties 34,505 33,600 15,362 (19,143) (55.5)%(18,238) (54.3)%
YTD Total 243,206$ 235,800$ 217,273$ $ (25,933)(10.7)% $ (18,527)(7.9)%
Through March 2017
Fines & Penalties by Type
2017 vs. 2016 Actual 2017 vs. Budget
Percentage Percentage
$0.0
$0.1
$0.2
$0.3
$0.4
$0.5
$0.6
$0.7
$0.8
$0.9
$1.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFines & Penalties
2017 Budget
2017 YTD Actual
2016 Actual
19
Quarterly Financial Report Through Q1-2017 20
Miscellaneous revenues 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 Q1-
2017 totaled $339,000 and exceeded budget expectations by $152,000. Rents and leases
revenue through March 2017 totaled $218,000 compared to prior year actuals of $143,000. The
majority of this year-over-year increase was seen in facilities rental revenue, which saw a
$14,000 increase due to the opening of the new Community and Events Center. In addition,
parking revenues increased by $13,000 in Q1-2017 compared to Q1-2016 due to additional
inventory of parking spaces and the sale of multiple 12-month parking spaces. Lastly, due to an
increase in facility rentals, revenues collected in miscellaneous parks unearned revenue
(deposits) in Q1-2017 increased by $50K as compared to revenues collected in Q1-2016.
$1.6
$1.4
$1.2
$0.9 $0.9
$0.2
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
2012 2013 2014 2015 2016 2017 YTDMillionsFines & Penalties
Actuals
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Interest & Investments 20,517$ 12,500$ 35,929$ 15,411$ 75.1 %23,429$ 187.4 %
Rents & Leases 143,068 114,000 217,707 74,639 52.2 %103,707 91.0 %
Contributions & Donations 1,808 4,300 8,350 6,541 361.7 %4,050 94.2 %
Other Miscellaneous Revenue 79,862 55,300 76,549 (3,313)(4.1)%21,249 38.4 %
YTD Total 245,255$ 186,100$ 338,535$ 93,279$ 38.0 %152,435$ 81.9 %
Miscellaneous Revenues by Type
Through March 2017
2017 vs. 2016 2017 vs. Budget
Percentage Percentage
20
Quarterly Financial Report Through Q1-2017 21
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 Q1-2017
totaled $800,000, and exceeds budget expectations by $270,000. Real estate sales in the City
of Auburn in Q1-2017 represent the sale of both commercial and numerous single family
residences. The commercial sales include the sale of an auto dealership, a hotel, and several
warehouse buildings.
$0.8
$0.7
$1.0 $1.0
$1.2
$0.3
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
2012 2013 2014 2015 2016 2017 YTDMillionsMiscellaneous Revenues
Actuals
2016 2017 2017
Month Actual Budget Actual Amount Amount
Jan 339,594$ 192,600$ 224,044$ (115,550)$ (34.0)%31,444$ 16.3 %
Feb 286,943 166,800 249,683 (37,261) (13.0)%82,883 49.7 %
Mar 293,361 170,800 326,044 32,683 11.1 %155,244 90.9 %
Apr 574,925
May 255,078
Jun 329,081
Jul 360,857
Aug 673,012
Sep 338,340
Oct 249,714
Nov 321,895
Dec 262,543
YTD Total 919,898$ 530,200$ 799,771$ (120,127)$ (13.1)%269,571$ 50.8 %
Annual Total 4,285,344$ 2,810,000$
2017 vs. 2016 2017 vs. Budget
Percentage
Real Estate Excise Tax Revenues
March 2017
Percentage
21
Quarterly Financial Report Through Q1-2017 22
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsReal Estate Excise Tax
2017 Budget
2017 YTD Actual
2016 Actual
$1.8
$2.2 $2.5
$4.6
$4.3
$0.8
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
2012 2013 2014 2015 2016 2017 YTDMillionsReal Estate Excise Tax Revenues
Actuals
22
Quarterly Financial Report Through Q1-2017 23
Pet Licensing
In Q1-2017, 1,123 pet licenses were sold, resulting in $29,080 in revenue. In Q1-2016, 1,153
licenses were sold, resulting in $32,560 in revenue.
0
500
1,000
1,500
2,000
2,500
$0
$2
$4
$6
$8
$10
$12
$14
$16
JanFebMarAprMayJunJulAugSepOctNovDecNumber of Licenses IssuedLicense Revenue( thousands )Pet Licensing Revenues vs Licenses Sold
2017 vs 2016
2016 License Revenue
2017 License Revenue
2016 Licenses Issued
2017 Licenses Issued
0
1,000
2,000
3,000
4,000
5,000
6,000
$0
$20
$40
$60
$80
$100
$120
$140
JanFebMarAprMayJunJulAugSepOctNovDecNumber of Licenses IssuedLicense Revenue( thousands )Cumulative Pet Licensing Revenue & Licenses Issued
2017 vs 2016
2017 License Revenue
2017 Licenses Issued
2016 Licenses Issued
23
Quarterly Financial Report Through Q1-2017 24
Street Funds
This section provides financial overview of the City’s three street funds for the quarter ending
March 31, 2017. The City’s three street funds include the Arterial Street Fund (Fund 102), the
Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105). The
capital project expenditures in these funds 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. As of March 31, 2017 there were 16 separate
street projects budgeted in this fund for 2017. Budget Amendment No. 1, adopted April 3, 2017,
added or increased funding for several major projects in this fund, including 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.
Through March 31, 2017, revenues collected totaled $153,000 and compare to collections of
$140,000 through Q1-2016. Expenditures through Q1-2017 totaled $1.2 million and compare to
$516,000 spent the same period last year. The majority of the year-to-date expenditures have
occurred in two projects: W. Main Multimodal Corridor and ITS Improvements ($870,000) and
the Traffic Signal Safety Improvements project ($120,000). These projects were awarded in
2016 and construction is underway, with completion anticipated to occur in Q2-2017.
Fund 102 - Arterial Street 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2017 Budget *Budget *Actual Actual Amount
Revenues
Federal Grants 7,054,082$ -$ -$ -$ -$
State Grants 2,995,210 - 7,398 - 7,398
Motor Vehicle Fuel and Multimodal Taxes 583,000 131,301 131,391 117,986 90 0.1 %
Developer Contributions 809,221 25,000 2,061 - (22,939) (91.8)%
Miscellaneous Revenue 466,191 - - 20,700 -
Other Governmental Agencies - - - - -
Public Works Trust Fund Loans - - - - -
Operating Transfer In 3,420,622 60,850 9,892 - (50,958) (83.7)%
Investment Income 2,600 661 2,051 1,321 1,389 210.1 %
Total Revenues 15,330,926$ 217,813$ 152,793$ 140,007$ (65,019)$ (29.9)%
Expenditures
Salary and Benefits 285,000$ 65,835$ 180,093$ 121,994$ (114,258)$ (173.6)%
Capital Outlay 15,658,112 489,741 939,396 374,996 (449,655) (91.8)%
Subtotal - Capital Project Expenditures 15,943,112 555,576 1,119,489 496,989 (563,913) (101.5)%
Services and Charges 285,000 65,000 36,068 43 28,932 44.5 %
Interfund Payments for Services 76,681 19,170 19,170 18,639 0 0.0 %
Debt Service Principal and Interest 209,511 - - - -
Operating Transfer Out 15,046 1,165 - - 1,165 100.0
Total Expenditures 16,529,350$ 640,912$ 1,174,727$ 515,671$ (533,816)$ (83.3)%
Net Change in Fund Balance (1,198,424)$ (423,099)$ (1,021,934)$ (375,663)$ (598,835)$ 141.5 %
Beg. Fund Balance, January 2017 1,632,556$
Net Change in Fund Balance, March 2017 (1,021,934)* Budget includes BA #1, approved April 3, 2017
Ending Fund Balance, March 2017 610,622$
2017 Budgeted Ending Fund Balance 434,132$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
24
Quarterly Financial Report Through Q1-2017 25
This table presents the status of the projects with the most significant impacts on this fund:
Notes:
• W. Main St. Multimodal Corridor & ITS Improvements received a $1.6 million carryforward in BA#1. This
project is under construction and awaiting appropriate weather for final pavement construction.
• Traffic Signal Safety Improvements project received a carryforward of $400,000 in BA#1. This project is
under construction and anticipated to be completed by mid-2017.
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
MillionsFund 102 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE Budget
$15.9M
2016 YTD Actual
$0.5M2017 YTD Actual
$1.1M
*Data consists of capital outlays, salaries,and benefits.
Name Annual Budget YTD Actual Remaining
W. Main St Multimodal Corridor & ITS Imp $1.6M $0.9M $0.7M
Traffic Signal Safety Improvements $0.4M $0.1M $0.3M
AWS Corridor Safety Imp. -- Muckleshoot Pl.$3.3M $0.03M $3.2M
All Other Projects (13 Others Budgeted)$10.7M $0.1M $10.6M
Total $15.9M $1.1M $14.8M
* Budget as of BA#1, adopted April 3, 2017
Fund 102 - Arterial Street
Capital Projects Status *
25
Quarterly Financial Report Through Q1-2017 26
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 preservation. Through Q1-2017 the revenues in this fund
exceeded budget expectations by $233,000, or 42.4%, due to higher than anticipated sales tax
revenues from local construction projects. Expenditures through Q1 totaled $87,000 and
compare to a year-to-date budget of $104,000. Historically, well over half of this fund’s
expenditures occur in the final four months of each year due to the weather sensitivity of
pavement construction and the need for this work to be done primarily in summer and early fall.
Fund 103 - Local Street Fund 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2017 Budget *Budget *Actual Actual Amount
Revenues
Sales Tax on Construction 1,750,000$ 397,786$ 628,536$ 524,200$ 230,750$ 58.0 %
Operating Transfer In 150,000$ 150,000 150,000$ 150,000$ - 0.0 %
Interest Earnings 9,100$ 1,953 4,471$ 2,377$ 2,518 128.9 %
Total Revenues 1,909,100$ 549,739$ 783,007$ 676,577$ 233,268$ 42.4 %
Expenditures
Salary and Benefits 148,568$ 36,240$ 34,117$ 30,654$ 2,123$ 5.9 %
Services and Charges 25,680 151 178 167 (27) (17.8)%
Capital Outlay 2,933,969 64,905 49,229 49,302 15,676 24.2 %
Interfund Payments for Services 11,925 2,981 2,979 3,060 2 0.1 %
Operating Transfer Out 11,051 167 - - 167 100.0
Total Expenditures 3,131,193$ 104,444$ 86,502$ 83,183$ 17,942$ 17.2 %
Net Change in Fund Balance (1,222,093)$ 445,295$ 696,504$ 593,394$ 251,209$ 56.4 %
Beg. Fund Balance, January 2017 2,115,236$
Net Change in Fund Balance, March 2017 696,504 * Budget includes BA #1, approved April 3, 2017
Ending Fund Balance, March 2017 2,811,740$
2017 Budgeted Ending Fund Balance 893,143$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
26
Quarterly Financial Report Through Q1-2017 27
This table presents the status of the projects with the most significant impacts on this fund:
Notes:
• 2016 Local Street Reconstruction Project received Final Acceptance by the City Council on April 17, 2017
and is now complete.
• 2017 Local Street Reconstruction Project is scheduled for construction in summer/fall of 2017.
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
MillionsFund 103 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE Budget
$2.9M
2016 YTD Actual
$49K
2017 YTD Actual
$49K
*Data consists of capital outlays.
Name Annual Budget YTD Actual Remaining
2016 Local Street Pavement Reconst.$0.3M $0.05M $0.3M
2017 Local St. Reconst. & Preservation $2.6M $0.0M $2.6M
Total $2.9M $0.05M $2.9M
* Budget as of BA#1, adopted April 3, 2017
Fund 103 - Local Street
Capital Projects Status *
27
Quarterly Financial Report Through Q1-2017 28
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 the Auburn Way North Preservation Project and the B Street
NW Reconstruction Project. Through Q1-2017 revenues totaled $503,000 and compare to a
year-to-date budget of $582,000. This difference is mostly due to the timing of budgeted
transfers-in, which is generally based on non-reimbursable project costs.
Expenditures through Q1-2017 totaled $79,000, and compares to expenditures of $94,000
through Q1-2016. Historically, the majority of this fund’s expenditures occur in the second half
of each year due to the weather sensitivity of pavement construction and the need for this work
to be done primarily in summer and early fall.
Fund 105 - Arterial Street Preservation 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2017 Budget *Budget *Actual Actual Amount
Revenues
City Utility Tax 632,300$ 141,195$ 148,313$ 144,172$ 7,117$ 5.0 %
Electric Utility Tax 712,000 179,129 175,712 177,693 (3,417) (1.9)%
Natural Gas Utility Tax 200,200 51,446 45,551 51,553 (5,895) (11.5)%
Cable TV Tax 194,300 48,150 51,208 49,558 3,058 6.4 %
Telephone Utility Tax 290,400 80,988 72,545 81,019 (8,443) (10.4)%
Garbage Utility Tax (External Haulers)19,400 4,850 5,232 5,090 382 7.9 %
Grants 2,354,398 - - - -
Developer Mitigation Fees - - - - -
Operating Transfer In 431,750 75,000 - - (75,000) (100.0)%
Interest Earnings 4,900 1,225 4,977 1,772 3,752 306.3 %
Total Revenues 4,839,648$ 581,983$ 503,537$ 510,856$ (78,446)$ (13.5)%
Expenditures
Salary and Benefits 368,000$ 59,803$ 75,622$ 75,935$ (15,818)$ (26.5)%
Capital Outlay 7,071,019 134,173 3,518 18,872 130,655 97.4 %
Subtotal - Capital Project Expenditures 7,439,019 193,976 79,140 94,807 114,836 59.2 %
Supplies - - - - -
Services and Charges - - - - -
Operating Transfer Out 56,535 - - - -
Total Expenditures 7,495,554$ 193,976$ 79,140$ 94,807$ 114,836$ 59.2 %
Net Change in Fund Balance (2,655,906)$ 388,007$ 424,397$ 416,049$ 36,391$ 9.4 %
Beg. Fund Balance, January 2017 3,221,914$
Net Change in Fund Balance, March 2017 424,397 * Budget includes BA #1, approved April 3, 2017
Ending Fund Balance, March 2017 3,646,311$
2017 Budgeted Ending Fund Balance 566,008$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
28
Quarterly Financial Report Through Q1-2017 29
This table presents the status of the projects with the most significant impacts on the fund:
Notes:
• Auburn Way North Preservation is currently under construction.
• The Lake Tapps Parkway Preservation construction contract was awarded by the City Council on May 15,
2017.
• B Street NW Reconstruction is finalizing design and is scheduled for construction to begin in summer 2017.
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
MillionsFund 105 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE Budget
$7.4M
2016 YTD Actual
$95K
2017 YTD Actual
$79K
*Data consists of capital outlays,salaries and benefits
Name Annual Budget YTD Actual Remaining
Auburn Way North Preservation $1.7M $0.04M $1.7M
B Street NW Reconstruction $2.7M $0.01M $2.7M
Lake Tapps Parkway Preservation $0.9M $0.02M $0.9M
All Other Projects (4 Others Budgeted)$2.1M $0.0M $2.1M
Total $7.4M $0.1M $7.4M
* Budget as of BA#1, adopted April 3, 2017
Capital Projects Status *
Fund 105 - Arterial Street Preservation
29
Quarterly Financial Report Through Q1-2017 30
Fund 124 – Mitigation Fees
The Mitigation Fees Fund is a Special Revenue Fund funded from revenue from new
development, which is assessed at the time applications are received for development activity.
These funds are used to mitigate costs associated with City growth. Through Q1-2017,
revenues were slightly above budget expectations, at 29.6% of the annual budgeted amount.
Expenditures were well below budget due to the timing of construction projects funded by these
revenues, which historically occur during the second half of the year when conditions are more
favorable.
Fund 124 - Mitigation Fees
Summary of Sources and Uses
Report Period Through:Ending Ending
March 2017 Fund Balance Fund Balance
Transportation Impact Fees 156,193$ 9,892$ 146,301$ 800,000$ 738,511$ 3,743,574$
Transportation Migitation Fees 4,460 - 5,158,755 - - 257,710
Fire Impact Fees 52,010 - 316,287 100,000 50,000 364,220
Fire Mitigation Fees - - 299,811 - - 82
Parks Impact Fees 217,076 50,742 166,415 600,000 545,000 1,178,213
Parks Mitigation Fees - - 4,806,434 - - 330,319
School Impact Admin Fees 2,464 - 333,791 12,000 - 90,115
Wetland Mitigation Fees - - 46,920 - 31,570 37,056
Interest and Investment Income 18,516 - 87,351 8,200 - 8,200
Fees in Lieu of Improvements - - 122,525 - - -
Operating Transfers - - - - - -
Total 450,718$ 60,634$ 11,484,589$ 1,520,200$ 1,365,081$ 6,009,489$
Beginning Fund Balance, January 2017 11,094,505$
Net Change in Fund Balance, March 2017 390,084
Ending Fund Balance, March 2017 11,484,589$
2017 Budgeted Ending Fund Balance 6,009,489$
YTD ACTUALS BUDGET
Revenues Expenditures Revenues Expenditures
30
Quarterly Financial Report Through Q1-2017 31
Enterprise 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, as applicable, capital fund reports for
these funds showing budget, actuals, and variances. Operating funds house all the operating
costs along with debt service and financing obligations. Capital funds show costs associated
with capital acquisition and construction. Both the operating and capital funds 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 exactly how much working capital is
available for current and planned projects.
Budget Amendment #6, adopted in 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.
In Q1-2017, the Water Utility had operating income before depreciation of $1,128,000 as
compared with $775,000 for 2016. This increase is largely due to lower expenditures compared
to Q1-2016, during which the City purchased regional water from the City of Tacoma while four
of the City’s six major production wells were being rehabilitated. Currently, four wells and two
springs are providing the City’s water supply, with the remaining two wells anticipated to return
to service in early fall; no regional water purchases are anticipated for 2017, contributing to the
lower overall cost and hence higher net income.
Water sales in Q1-2017 totaled 650,000 hundred cubic feet (ccf), compared to 709,000 ccf in
2016, representing a 9.2% decrease due to lower than average water consumption in February.
Revenues ended the quarter in line with budget expectations due to the timing delays between
water consumption, billing, and receipt of payments.
31
Quarterly Financial Report Through Q1-2017 32
The Sewer Utility finished Q1-2017 with operating income before depreciation of $441,000,
compared to $615,000 in Q1-2016. This variance is due to a budgeted interfund transfer in
March of $100,000 to the Water fund for the utilities field operations center, and the recognition
of $76,000 in system development charge revenue in the Sewer Capital subfund in 2017. These
revenues were previously recognized in the Sewer Operations Fund.
The Sewer-Metro Utility ended the year with an operating loss of $185,000, as compared an
operating loss of $40,000 in Q1-2016. These variances are largely due to King County’s internal
billing process, by which King County bills the City a flat rate each quarter based on the number
of customers and consumption volume averaged over prior quarters. Therefore, Sewer-Metro
generally experiences a loss early in the year when revenues trend low, and income later in the
year when revenues trend higher. The Sewer-Metro Utility is expected to end the year with
operating income, consistent with prior years.
The Stormwater Utility ended Q1-2017 with operating income before depreciation of $663,000,
compared with $715,000 in Q1-2016. This was due to a budgeted interfund transfer of $100,000
to the Water fund for the utilities field operations center. Less this one-time transfer, the
Stormwater utility ended the quarter with operating income of $760,000, an increase of 6.7%.
The Cemetery Fund ended Q1-2017 with an operating income of $158,000 as compared with
an operating income of $155,000 in 2016. Operating expenditures totaled $257,000 in Q1-
2017, compared to $264,000 last year.
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecThousandsCEMETERY
2017 YTD Budgeted
Revenue
2017 YTD Actual
Revenue
2016 YTD Actual
Revenue
2017 YTD Actual
Expenses
Cumulative Revenues & Expenditures
2017 Budget vs. Actual
32
Quarterly Financial Report Through Q1-2017 33
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2017. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
33
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 122,359,344$ Various 0.70%
KeyBank Money Market Various 3,919,629 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 127,513,736$ 0.686%
Investment Mix % of Total
State Investment Pool 96.0%Current 6-month treasury rate 0.89%
KeyBank Money Market 3.1%Current State Pool rate 0.70%
US Treasury 0.0%KeyBank Money Market 0.02%
FNMA 0.8%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
March 31, 2017
Summary
34
SALES TAX SUMMARY
MARCH 2017 SALES TAX DISTRIBUTIONS (FOR JANUARY 2017 RETAIL ACTIVITY)
2016 Annual Total 2016 YTD 2017 YTD YTD 2016 Annual Total 2016 YTD 2017 YTD YTD
NAICS CONSTRUCTION (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff NAICS AUTOMOTIVE (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff
236 Construction of Buildings 1,139,466 254,528 345,361 35.7%441 Motor Vehicle and Parts Dealer 3,409,019 800,571 870,929 8.8%
237 Heavy and Civil Construction 309,344 64,485 51,661 -19.9%447 Gasoline Stations 250,478 61,796 66,662 7.9%
238 Specialty Trade Contractors 843,470 205,186 231,514 12.8%TOTAL AUTOMOTIVE 3,659,497 862,367 937,591 8.7%
TOTAL CONSTRUCTION 2,292,280 524,200 628,536 19.9%Overall Change from Previous Year 75,224
Overall Change from Previous Year 104,336
2016 Annual Total 2016 YTD 2017 YTD YTD
2016 Annual Total 2016 YTD 2017 YTD YTD NAICS RETAIL TRADE (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff
NAICS MANUFACTURING (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff 442 Furniture and Home Furnishings 185,234 c 58,698 54,037 -7.9%
311 Food Manufacturing 3,278 944 1,938 105.3%443 Electronics and Appliances 220,553 71,643 54,608 -23.8%
312 Beverage and Tobacco Products 9,601 2,590 2,148 -17.0%444 Building Material and Garden 579,076 125,630 124,204 -1.1%
313 Textile Mills 415 126 60 -52.7%445 Food and Beverage Stores 397,177 99,528 a 95,485 -4.1%
314 Textile Product Mills 3,554 948 224 -76.3%446 Health and Personal Care Store 284,191 64,867 96,367 48.6%
315 Apparel Manufacturing 155 132 36 -73.0%448 Clothing and Accessories 1,136,431 319,460 333,465 4.4%
316 Leather and Allied Products 38 2 23 1160.0%451 Sporting Goods, Hobby, Books 237,555 70,314 59,717 -15.1%
321 Wood Product Manufacturing 58,391 16,836 6,661 -60.4%452 General Merchandise Stores 1,017,905 307,442 303,658 -1.2%
322 Paper Manufacturing 8,047 2,050 3,329 62.4%453 Miscellaneous Store Retailers 473,398 128,464 121,523 -5.4%
323 Printing and Related Support 52,610 11,340 13,908 22.6%454 Nonstore Retailers 321,071 87,438 99,298 13.6%
324 Petroleum and Coal Products 2,145 1,042 262 -74.8%TOTAL RETAIL TRADE 4,852,592 1,333,483 1,342,361 0.7%
325 Chemical Manufacturing 10,183 1,912 1,912 0.0%Overall Change from Previous Year 8,878
326 Plastics and Rubber Products 8,168 2,068 1,752 -15.3%
327 Nonmetallic Mineral Products 17,429 3,064 4,390 43.3%
331 Primary Metal Manufacturing 442 181 275 52.0%2016 Annual Total 2016 YTD 2017 YTD YTD
332 Fabricated Metal Product Manuf 29,409 9,520 10,476 10.0%NAICS SERVICES (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff
333 Machinery Manufacturing 16,461 4,480 4,585 2.3%51*Information 630,158 148,482 171,866 15.7%
334 Computer and Electronic Product 10,780 2,435 5,752 136.2%52*Finance and Insurance 110,728 26,939 28,040 4.1%
335 Electric Equipment, Appliances 445 177 361 103.9%53*Real Estate, Rental, Leasing 358,628 93,076 87,871 -5.6%
336 Transportation Equipment Man 471,441 132,003 136,327 3.3%541 Professional, Scientific, Tech 237,656 55,467 57,535 3.7%
337 Furniture and Related Products 18,661 3,765 5,465 45.1%551 Company Management 330 13 4 -72.1%
339 Miscellaneous Manufacturing 39,437 15,101 6,567 -56.5%56*Admin. Supp., Remed Svcs 328,453 91,459 66,252 -27.6%
TOTAL MANUFACTURING 761,091 210,717 206,450 -2.0%611 Educational Services 50,026 11,288 11,459 1.5%
Overall Change from Previous Year -4,267 62*Health Care Social Assistance 91,643 26,280 21,138 -19.6%
71*Arts and Entertainment 156,301 73,901 17,577 -76.2%
72*Accommodation and Food Svcs 1,217,734 279,056 287,866 3.2%
2016 Annual Total 2016 YTD 2017 YTD YTD 81*Other Services 646,579 126,680 128,886 1.7%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff 92*Public Administration 141,806 40,548 27,855 -31.3%
481 Air Transportation 1 0 2 N/A TOTAL SERVICES 3,970,042 973,192 906,349 -6.9%
482 Rail Transportation 24,331 2,808 13,938 396.4%Overall Change from Previous Year -66,843
484 Truck Transportation 7,067 1,175 1,345 14.5%
485 Transit and Ground Passengers 114 0 21 N/A
488 Transportation Support 52,828 15,369 10,705 -30.4%2016 Annual Total 2016 YTD 2017 YTD YTD
491 Postal Service 274 78 92 17.9%NAICS MISCELLANEOUS (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff
492 Couriers and Messengers 301 189 93 -50.9%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 14,523 3,638 3,354 -7.8%111-115 Agriculture, Forestry, Fishing 5,534 1,552 1,599 3.0%
TOTAL TRANSPORTATION 99,439 23,257 29,549 27.1%211-221 Mining & Utilities 29,410 6,222 5,193 -16.5%
Overall Change from Previous Year 6,292 999 Unclassifiable Establishments 32,161 b 17,558 20,420 16.3%
TOTAL SERVICES 67,105 25,331 27,212 7.4%
Overall Change from Previous Year 1,881
2016 Annual Total 2016 YTD 2017 YTD YTD
NAICS WHOLESALE TRADE (Nov '15-Oct '16)(Nov '15-Jan '16)(Nov '16-Jan '17)% Diff
423 Wholesale Trade, Durable Goods 981,820 232,215 243,625 4.9%GRAND TOTAL 16,967,023 4,247,841 4,389,521
424 Wholesale Trade, Nondurable 281,166 62,561 65,336 4.4%Overall Change from Previous Year 141,680 3.3%
425 Wholesale Electronic Markets 1,991 518 2,512 384.9%
TOTAL WHOLESALE 1,264,976 295,294 311,473 5.5%Total March 2017 Sales Tax Distributions 1,335,792
Overall Change from Previous Year 16,179 Dollar Increase from March 2016 115,112
Percent Increase from March 2016
Includes Adjustments in excess of +/- $10,000.Comparisons:
a. WA State Dept of Revenue audit adjustment to sales tax returns for period of November 2015 (adjustment: $10,572).March 2016 4,247,841 3,027,161 1,220,680
b. WA State Dept of Revenue audit adjustment to sales tax returns for period of April 2016 (adjustment: - $52,898).March 2015 4,179,393 2,954,305 1,225,088
c. WA State Dept of Revenue audit adjustment to sales tax returns for period of May 2016 (adjustment: - $16,496).
03/23/17
Prepared by Auburn Finance Department
9.4%
35
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 14,730,511 3,030,940 (11,699,571) 8,102,441 2,047,119 (6,055,322) 17,237,490 4,136,616 (13,100,874) 9,242,676 2,430,044 (6,812,632)
Grants - - - - - -
Interest Earnings 10,000 15,504 5,504 20,000 5,823 (14,177) 1,000 1,561 561 15,000 3,566 (11,434)
Operating Transfers - - -
Rents, Leases, Concessions, & Other 212,939 13,955 (198,984) 72,849 1,389 (71,460) - - - 60,951 1,111 (59,840)
TOTAL OPERATING REVENUES 14,953,450 3,060,399 (11,893,051) 8,195,290 2,054,331 (6,140,959) 17,238,490 4,138,177 (13,100,313) 9,318,627 2,434,721 (6,883,906)
OPERATING EXPENSES
Salaries & Wages 2,688,501 635,626 2,052,875 1,742,176 433,469 1,308,707 - - - 2,500,996 629,142 1,871,854
Benefits 1,314,301 302,976 1,011,325 842,110 206,474 635,636 - - - 1,233,452 300,041 933,411
Supplies 334,444 42,272 292,172 136,750 30,210 106,540 - - - 94,750 9,246 85,504
Other Service Charges 4,868,480 582,752 4,285,728 2,842,890 575,648 2,267,242 - - - 1,708,290 283,179 1,425,111
Intergovernmental Services (Less Transfers Out)- - - 9,500 398 9,102 83,000 - 83,000
Operating Transfers Out 210,280 13,000 197,280 295,292 107,000 188,292 382,752 189,800 192,952
Waste Management Payments see Note
Sewer Metro Services 17,294,700 4,323,945 12,970,755
Debt Service Principal 1,732,527 - 1,732,527 541,127 - 541,127 413,162 - 413,162
Debt Service Interest 1,345,282 - 1,345,282 276,483 - 276,483 - - - 361,418 - 361,418
Interfund Loan Repayment - - -
Net Change Restricted Assets
Interfund Operating Rentals & Supplies 1,422,716 355,706 1,067,010 1,039,865 260,143 779,722 - - - 1,441,066 360,515 1,080,551
TOTAL OPERATING EXPENSES 13,916,531 1,932,331 11,984,200 7,726,193 1,613,343 6,112,851 17,294,700 4,323,945 12,970,755 8,218,886 1,771,923 6,446,963
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*) 1,036,919 1,128,068 91,149 469,097 440,989 (28,108) (56,210) (185,768) (129,558) 1,099,741 662,798 (436,943)
Transfer to Capital Subfund 1,000,000 - 1,000,000 - 1,400,000 -
Net Change in Restricted Net Assets - 11,695 11,695 - - - - - -
BEGINNING WORKING CAPITAL - January 1, 2017 4,639,074 4,639,074 - 1,765,613 1,765,613 - 2,374,705 2,374,705 - 2,077,239 2,077,239 -
ENDING WORKING CAPITAL - March 31, 2017 4,675,993 5,755,447 1,079,454 1,234,710 2,206,602 971,892 2,318,495 2,188,937 (129,558) 1,776,980 2,740,037 963,057
NET CHANGE IN WORKING CAPITAL (see Note)36,919 1,116,373 1,079,454 (530,903) 440,989 971,892 (56,210) (185,768) (129,558) (300,259) 662,798 963,057
4,641,113 1,116,373 - 9,518,732 440,989 - 2,374,705 (185,768) - 13,319,582 662,798 -
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue - 3,657 3,657 - 20,336 20,336 - 20,983 20,983
Grants - - - - - -
Contributions - - - - - - -
Other Non-Operating Revenue - - - - - - - - -
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - -
Increase In Contributions - System Development 1,000,000 134,745 (865,255) 500,000 76,267 (423,733) 500,000 71,085 (428,915)
Interfund Revenues - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - -
Proceeds of Debt Activity 5,000,000 - (5,000,000) - - - - - -
Transfers In from Operating Sub-Fund 1,000,000 - (1,000,000) 1,000,000 - (1,000,000) 1,400,000 - (1,400,000)
Transfer In from Other Funds 200,000 200,000 - - - -- -
Other Sources - - - - - -- - -
TOTAL CAPITAL REVENUES 7,200,000 338,402 (6,861,599) 1,500,000 96,603 (1,403,397) 1,900,000 92,068 (1,807,932)
CAPITAL EXPENSES
Other Non-Operating Expense - - - - - - - - -
Increase In Fixed Assets - Salaries 382,143 49,791 332,352 86,429 19,814 66,615 152,143 51,523 100,620
Increase In Fixed Assets - Benefits 152,857 22,369 130,488 34,571 9,059 25,512 60,857 23,395 37,462
Increase In Fixed Assets - Services - 1,532 (1,532) - 241 (241) - - -
Increase In Fixed Assets - Site Improvements - 5,424 (5,424) - - - - -
Increase In Fixed Assets - Equipment - - -
Increase In Fixed Assets - Construction 5,670,986 35,574 5,635,412 1,260,900 162,309 1,098,591 2,426,200 599,938 1,826,262
Increase In Fixed Assets - Other - - - 577 (577)
Operating Transfers Out 50,000 50,000 - 50,000 50,000 - 156,000 50,000 106,000
TOTAL CAPITAL EXPENSES 6,255,986 164,691 6,091,295 1,431,900 241,423 1,190,477 2,795,200 725,433 2,069,767
BEGINNING WORKING CAPITAL - January 1, 2017 2,039 2,039 - 7,753,119 7,753,119 - 11,242,343 11,242,343 -
946,053 175,750 (770,303) 7,821,219 7,608,300 (212,919) 10,347,143 10,608,978 261,835
NET CHANGE IN WORKING CAPITAL (see Note)944,014 173,711 (770,303) 68,100 (144,819) (212,919) (895,200) (633,365) 261,835
Total Change in Working Capital 980,933 1,290,084 309,151 (462,803) 296,169 758,972 (56,210) (185,768) (129,558) (1,195,459) 29,433 1,224,892
(*) Depreciation 3,140,000 828,585 2,315,000 555,556 - - 2,080,000 479,045
ENDING WORKING CAPITAL - March 31, 2017
Working Capital = Current Assets
minus Current Liabilities
ENTERPRISE FUNDSOPERATING & CAPITAL FUNDS
WATER SEWER SEWER METRO STORMCash Basis through March 2017
6/7/2017 3:11 PM
36
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
Intergovernmental Services (Less Transfers Out)
Operating Transfers Out
Waste Management Payments see Note
Sewer Metro Services
Debt Service Principal
Debt Service Interest
Interfund Loan Repayment
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*)
Transfer to Capital Subfund
Net Change in Restricted Net Assets
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - March 31, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Grants
Contributions
Other Non-Operating Revenue
Gain (Loss) On Sale Of Fixed Assets
Increase In Contributions - System Development
Interfund Revenues
Increase In Contributions - FAA
Proceeds of Debt Activity
Transfers In from Operating Sub-Fund
Transfer In from Other Funds
Other Sources
TOTAL CAPITAL REVENUES
CAPITAL EXPENSES
Other Non-Operating Expense
Increase In Fixed Assets - Salaries
Increase In Fixed Assets - Benefits
Increase In Fixed Assets - Services
Increase In Fixed Assets - Site Improvements
Increase In Fixed Assets - Equipment
Increase In Fixed Assets - Construction
Increase In Fixed Assets - Other
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
ENDING WORKING CAPITAL - March 31, 2017
Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
Cash Basis through March 2017
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 -
14,816,200 3,544,495 (11,271,705) 807,800 212,789 (595,011) 927,500 414,043 (513,457) - - -
87,300 - (87,300) - - - - -
9,000 6,643 (2,357) 2,500 886 (1,614) 800 644 (156) 1,500 734 (767)
200,000 - (200,000)
- - - 3,000 1,151 (1,849) - - - -
14,912,500 3,551,138 (11,361,362) 813,300 214,826 (598,474) 1,128,300 414,686 (713,614) 1,500 734 (767)
325,910 79,696 246,214 - - - 475,628 117,951 357,677 - - -
147,414 35,492 111,922 - - - 258,734 63,675 195,059 225,750 14,106 211,644
33,000 398 32,603 2,500 - 2,500 221,700 45,451 176,249 - - -
1,571,465 305,739 1,265,726 484,950 149,778 335,172 156,750 18,085 138,665 4,230 818,907 (814,677)
363,600 - 363,600 - - - 1,332 - 1,332 - - -
- - - - - - - - - - - -
11,975,500 1,842,767 10,132,733
165,000 - 165,000
- - - 23,850 214 23,636 (0) - (0) - - -
- 9,954 (9,954) - -
- - -
111,587 27,897 83,690 1,400 351 1,049 47,833 11,958 35,875 - - -
14,528,476 2,291,988 12,236,488 677,700 160,298 517,403 1,161,977 257,120 904,857 229,980 833,013 (603,033)
384,024 1,259,150 875,126 135,600 54,529 (81,071) (33,677) 157,566 191,243 (228,480) (832,279) (603,799)
- (2,084) (2,084) - - -
3,849,877 3,849,877 - 188,565 188,565 - 277,586 277,586 - 1,312,689 1,312,689 -
4,233,901 5,109,027 875,126 324,165 245,177 (78,988) 243,909 435,152 191,243 1,084,209 480,410 (603,799)
384,024 1,259,150 875,126 135,600 56,612 (78,988) (33,677) 157,566 191,243 (228,480) (832,279) (603,799)
3,849,877 1,259,150 - - 1,312,689 (832,279) -
- 522 522 - 401 401
16,667 - (16,667) - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
300,000 - (300,000) - - -
- - - - - -
- - - - - -
- - - - - -
316,667 522 (316,145) - 401 401
- - - - - -
21,429 - 21,429 - - -
8,571 - 8,571 - - -
- - - - - -
- - - -
- -
333,334 22,303 311,031 - - -
- -
- - - - - -
363,334 22,303 341,031 - - -
158,410 158,410 - 157,301 157,301 -
111,743 136,629 24,886 157,301 157,702 401
(46,667) (21,781) 24,886 - 401 401
384,024 1,259,150 88,933 34,831 (54,102) (33,677) 157,967 191,644 (228,480) (832,279) (603,799)
19,000 4,705 468,000 116,925 50,500 12,691 - -
Note: Working capital balance only includes two Waste
Management payments due to the timing of March's
payment ($981,069), which will be made in April.
ENTERPRISE FUNDS
SOLID WASTE AIRPORT CEMETERY
INTERNAL SERVICE FUNDS
INSURANCE
see Note
6/7/2017 3:11 PM
37
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
Intergovernmental Services (Less Transfers Out)
Operating Transfers Out
Waste Management Payments see Note
Sewer Metro Services
Debt Service Principal
Debt Service Interest
Interfund Loan Repayment
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*)
Transfer to Capital Subfund
Net Change in Restricted Net Assets
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - March 31, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Grants
Contributions
Other Non-Operating Revenue
Gain (Loss) On Sale Of Fixed Assets
Increase In Contributions - System Development
Interfund Revenues
Increase In Contributions - FAA
Proceeds of Debt Activity
Transfers In from Operating Sub-Fund
Transfer In from Other Funds
Other Sources
TOTAL CAPITAL REVENUES
CAPITAL EXPENSES
Other Non-Operating Expense
Increase In Fixed Assets - Salaries
Increase In Fixed Assets - Benefits
Increase In Fixed Assets - Services
Increase In Fixed Assets - Site Improvements
Increase In Fixed Assets - Equipment
Increase In Fixed Assets - Construction
Increase In Fixed Assets - Other
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
ENDING WORKING CAPITAL - March 31, 2017
Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
Cash Basis through March 2017
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
961,300 223,607 (737,693) 3,453,700 868,980 (2,584,720) 5,599,106 1,509,133 (4,089,973) 2,263,102 568,355 (1,694,747)
- - - - - -
2,600 1,874 (726) 8,800 3,448 (5,352) 5,000 1,877 (3,123) - 4,376 4,376
579,916 - (579,916) 720,000 100,000 (620,000)
93,000 1,742 (91,258) - 36,816 36,816 - - - - 62,101 62,101
1,056,900 227,223 (829,677) 3,462,500 909,243 (2,553,257) 6,184,022 1,511,010 (4,673,012) 2,983,102 734,832 (2,248,270)
76,324 19,390 56,934 655,000 153,853 501,147 1,822,981 445,256 1,377,725 681,943 144,071 537,872
364,638 19,829 344,809 358,001 80,505 277,496 817,418 190,369 627,049 349,650 73,250 276,400
- - - 150,220 32,722 117,498 463,250 66,646 396,604 1,074,000 193,550 880,450
409,815 114,947 294,868 1,556,687 272,046 1,284,641 2,683,630 848,115 1,835,515 427,580 80,685 346,895
- - - - - - - - - - - -
- - - 646,338 1,300 645,038 400 400 - - - -
- 9,961 (9,961)
- - - - - - - - - 3,843 1,074 2,769
- - - -
- - - 140,784 35,196 105,588 191,031 47,754 143,277 231,152 57,808 173,344
850,777 154,166 696,611 3,507,030 575,622 2,931,408 5,978,710 1,598,540 4,380,170 2,768,168 560,399 2,207,769
206,123 73,057 (133,066) (44,530) 333,621 378,151 205,312 (87,531) (292,843) 214,934 174,433 (40,501)
- - - - (15,082) (15,082)
787,022 787,022 - 1,330,105 1,330,105 - 229,416 229,416 - 2,268,495 2,268,495 -
993,145 860,079 (133,066) 1,285,575 1,663,726 378,151 434,728 141,885 (292,843) 2,483,429 2,458,010 (25,419)
206,123 73,057 (133,066) (44,530) 333,621 378,151 205,312 (87,531) (292,843) 214,934 189,515 (25,419)
787,022 73,057 - 3,634,008 189,515 -
- 3,468 3,468 - 4,993 4,993
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - 1,703,631 425,907 (1,277,724)
- - - - - -
- - - - - -
- - - - - -
- - - 106,000 - (106,000)
- - - - - -
- 3,468 3,468 1,809,631 430,900 (1,378,731)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- -
682,900 192,430 490,470 1,137,904 296,202 841,702
- 620,000 - 620,000
- -
- - - - - -
682,900 192,430 490,470 1,757,904 296,202 1,461,702
1,762,983 1,762,983 - 1,365,513 1,365,513 -
1,080,083 1,574,021 493,938 1,417,240 1,500,211 82,971
(682,900) (188,962) 493,938 51,727 134,698 82,971
206,123 73,057 (133,066) (44,530) 333,621 378,151 (477,588) (276,493) 201,095 266,661 324,213 57,552
- - - - 701,000 226,171 985,000 258,180
INTERNAL SERVICE FUNDS
WORKER'S COMPENSATION FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL
6/7/2017 3:11 PM
38
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Services 3,030,940$ 2,047,119$ -$ 2,430,044$ 3,544,495$ 10,692$ 414,043$ -$ -$ -$ -$ -$
Interfund Charges For Services - - - - - - - - 225,349 843,549 1,489,737 994,262
Sewer Metro Services Revenue - - 4,136,616 - - - - - - - - -
Rents, Leases, Concessions & Other - - - - - 202,097 - - - 25,431 19,395 -
TOTAL OPERATING REVENUES 3,030,940$ 2,047,119$ 4,136,616$ 2,430,044$ 3,544,495$ 212,789$ 414,043$ -$ 225,349$ 868,980$ 1,509,133$ 994,262$
OPERATING EXPENSES
Administration & Other 1,086,846$ 1,084,777$ -$ 827,223$ 409,793$ 14,047$ 82,852$ 833,013$ -$ -$ -$ 203,773$
Operations & Maintenance 832,485 421,806 4,323,945 755,477 1,882,195 136,082 174,268 - 154,166 574,322 1,598,140 345,591
Depreciation & Amortization 828,585 555,556 - 479,045 4,705 116,925 12,691 - - - 226,171 258,180
TOTAL OPERATING EXPENSES 2,747,916$ 2,062,139$ 4,323,945$ 2,061,744$ 2,296,693$ 267,054$ 269,811$ 833,013$ 154,166$ 574,322$ 1,824,312$ 807,544$
OPERATING INCOME (LOSS)283,024$ (15,020)$ (187,329)$ 368,300$ 1,247,802$ (54,265)$ 144,232$ (833,013)$ 71,182$ 294,658$ (315,179)$ 186,717$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 19,160$ 26,159$ 1,561$ 24,549$ 6,643$ 1,408$ 1,045$ 734$ 1,874$ 3,448$ 5,345$ 9,369$
Other Non-Operating Revenue 13,955 1,389 - 1,111 1,151 - - - 36,816 - 52,083
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - 10,018
Other Non-Operating Expense - - - - - (214) - - - - - (1,074)
TOTAL NON-OPERATING REVENUES & EXPENSES 33,115$ 27,548$ 1,561$ 25,660$ 6,643$ 2,344$ 1,045$ 734$ 1,874$ 40,263$ 5,345$ 70,396$
316,139$ 12,528$ (185,768)$ 393,960$ 1,254,445$ (51,921)$ 145,276$ (832,279)$ 73,057$ 334,921$ (309,834)$ 257,113$
Contributions 134,745$ 76,267$ -$ 71,085$ -$ -$ -$ -$ -$ -$ -$ -$
Transfers In 1,200,000 1,000,000 - 1,400,000 - - - - - - 100,000
Transfers Out (1,063,000) (1,157,000) - (1,639,800) - - - - - (1,300) (400) -
TOTAL CONTRIBUTIONS & TRANSFERS 271,745$ (80,733)$ -$ (168,715)$ -$ -$ -$ -$ -$ (1,300)$ (400)$ 100,000$
CHANGE IN FUND BALANCE 587,884$ (68,205)$ (185,768)$ 225,245$ 1,254,445$ (51,921)$ 145,276$ (832,279)$ 73,057$ 333,621$ (310,234)$ 357,113$
BEGINNING FUND BALANCE - January 1, 2017 75,751,705$ 81,919,221$ 2,672,022$ 64,010,651$ 4,245,695$ 9,514,116$ 1,374,410$ 1,385,685$ 1,064,528$ 1,530,324$ 4,291,350$ 10,920,413$
ENDING FUND BALANCE - March 31, 2017 76,339,590$ 81,851,016$ 2,486,254$ 64,235,896$ 5,500,141$ 9,462,195$ 1,519,686$ 553,406$ 1,137,585$ 1,863,945$ 3,981,116$ 11,277,526$
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2017 revenues and expenditures by fund through March and includes the Fund Balance in the associated Capital Sub-Fund.
FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
39