HomeMy WebLinkAboutQ2 2017 Financial Report
AGENDA BILL APPROVAL FORM
Agenda Subject: 2nd Quarter 2017 Financial Report Date: August 14, 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 second
quarter 2017 status report based on financial data available as of July 25, 2017 for the period ending
June 30, 2017 and sales tax information representing business activity that occurred through April 2017.
Staff: Coleman
Meeting Date: August 14, 2017 Item Number:
Quarterly Financial Report Through Q2-2017
General Fund Summary
Property TaxesSales TaxesOther TaxesIntergovernmental(Grants, etc.)DevelopmentService FeesCulture &RecreationOther Fees& ChargesOtherRevenuesPersonnelSupplies& ServicesIntergovernmentalOther ExpendituresRevenues Expenditures
$0
$5
$10
$15
$20
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Revenues and Expenditures
(Through June 2017)Council& MayorAdministrativeServicesCommunity &Human ServicesMunicipal Court& ProbationHumanResourcesFinanceCity AttorneyCommunityDevelopmentJail - SCOREPolicePublic WorksParks, Arts& RecreationStreetsNon-Departmental$0
$2
$4
$6
$8
$10
$12
$14
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Expenditures by Department
(Through June 2017)
1
Quarterly Financial Report Through Q2-2017 2
General Fund 2016
Summary of Sources and Uses Annual YTD YTD YTD
Budget Budget Actual Actual Amount
Operating Revenues
Property Tax 6 20,652,000$ 10,893,100$ 10,964,115$ 9,448,363$ 71,015$ 0.7 %
Sales Tax 7-9 14,746,000 7,372,800 7,296,187 7,258,400 (76,613)(1.0)%
Sales Tax - Pierce County Parks 75,000 35,600 46,279 43,056 10,679 30.0 %
Sales Tax - Annexation Credit 2,032,100 987,500 1,006,644 988,193 19,144 1.9 %
Criminal Justice Sales Tax 1,889,400 902,200 977,844 945,829 75,644 8.4 %
Brokered Natural Gas Tax 351,800 228,400 102,635 160,140 (125,765)(55.1)%
City Utilities Tax 10 3,671,300 1,718,300 1,855,464 1,838,188 137,164 8.0 %
Admissions Tax 317,000 120,200 193,423 142,414 73,223 60.9 %
Electric Tax 10 3,560,000 1,877,500 1,998,132 1,915,419 120,632 6.4 %
Natural Gas Tax 10 1,001,200 669,300 727,262 644,107 57,962 8.7 %
Cable Franchise Fee 11 971,500 480,800 502,006 487,057 21,206 4.4 %
Cable Utility Tax - New 2017 12 1,000,000 500,000 262,899 - (237,101)(47.4)%
Cable Franchise Fee - Capital 66,200 33,100 33,353 33,238 253 0.8 %
Telephone Tax 10 1,451,800 754,000 711,186 767,726 (42,814)(5.7)%
Garbage Tax (external)10 120,000 60,000 63,427 61,778 3,427 5.7 %
Leasehold Excise Tax 40,000 23,200 174,508 179,245 151,308 652.2 %
Gambling Excise Tax 300,300 150,200 175,858 309,615 25,658 17.1 %
Taxes sub-total 52,245,600$ 26,806,200$ 27,091,221$ 25,222,768$ 285,021$ 1.1 %
Business License Fees 12-13 222,100$ 100,100$ 111,944$ 90,502$ 11,844$ 11.8 %
Building Permits 14 1,575,000 726,800 713,925 840,170 (12,875)(1.8)%
Other Licenses & Permits 541,600 225,300 282,774 285,523 57,474 25.5 %
Intergovernmental (Grants, etc.)15 6,123,910 3,043,883 3,046,274 2,648,748 2,390 0.1 %
Charges for Services:16-19
General Government Services 16 60,700 35,000 41,494 46,237 6,494 18.6 %
Public Safety 16 585,700 277,850 474,227 342,281 196,377 70.7 %
Development Services Fees 17 1,007,600 548,200 599,939 615,814 51,739 9.4 %
Culture and Recreation 18 2,319,680 1,245,000 1,229,849 1,251,074 (15,151)(1.2)%
Fines and Penalties 19-20 876,100 448,900 443,925 449,907 (4,975)(1.1)%
Fees/Charges/Fines sub-total 13,312,390$ 6,651,033$ 6,944,351$ 6,570,256$ 293,318$ 4.4 %
Interest and Investment Earnings 20-21 69,000$ 32,000$ 96,597$ 54,747$ 64,597$ 201.9 %
Rents and Leases 20-21 715,300 318,600 447,860 373,158 129,260 40.6 %
Contributions and Donations 20-21 35,000 15,800 20,545 11,818 4,745 30.0 %
Other Miscellaneous 20-21 227,500 118,100 123,142 160,111 5,042 4.3 %
Transfers In 84,000 76,500 76,500 99,000 0 0.0 %
Insurance Recoveries - Capital & Operating 25,000 12,495 20,086 37,572 7,591 60.8 %
Other Revenues sub-total 1,155,800$ 573,495$ 784,730$ 736,406$ 211,235$ 36.8 %
Total Operating Revenues 66,713,790$ 34,030,728$ 34,820,302$ 32,529,429$ 789,574$ 2.3 %
Operating Expenditures
Council & Mayor 1,171,418$ 568,000$ 562,892$ 495,405$ 5,108$ 0.9 %
Administration 1,527,533 763,800 663,014 548,073 100,786 13.2 %
Community & Human Services 1,103,040 453,900 405,631 438,403 48,269 10.6 %
Municipal Court & Probation 2,502,954 459,977 336,192 314,914 123,785 26.9 %
Human Resources 1,409,871 678,100 647,849 612,047 30,251 4.5 %
Finance 1,500,893 761,400 739,290 589,442 22,110 2.9 %
City Attorney 2,279,653 1,114,400 972,793 937,549 141,607 12.7 %
Community Development 4,798,583 2,369,700 2,087,341 2,027,342 282,359 11.9 %
Jail - SCORE 4 3,953,150 1,976,575 1,581,197 2,009,736 395,378 20.0 %
Police 26,652,517 13,043,700 12,217,562 11,463,766 826,138 6.3 %
Public Works 3,547,418 1,813,500 1,330,320 1,518,788 483,180 26.6 %
Parks, Arts & Recreation 12,235,387 5,971,100 5,714,750 5,452,246 256,350 4.3 %
Streets 3,798,094 1,689,800 1,684,953 1,447,978 4,847 0.3 %
Non-Departmental 6,398,215 2,722,967 2,203,572 1,313,029 519,395 19.1 %
Total Operating Expenditures 72,878,726$ 34,386,919$ 31,147,357$ 29,168,718$ 3,239,562$ 9.4 %
Page
Ref
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
2
Quarterly Financial Report Through Q2-2017 3
Executive Summary
This Executive Summary provides an overview of the City’s overall financial position for the
fiscal period ending June 30, 2017, reflecting financial data available as of July 25, 2017.
General Fund:
Through June 2017, General Fund revenues totaled $34.8 million compared to a budget of
$34.0 million, and were $790,000 (2.3%) higher than budget expectations. Some notable
variances to budget year-to-date include:
• Property tax collections through Q2-2017 totaled $11.0 million, which was 0.7% or
$71,000 above budget expectations and exceeded collections through Q2-2016 by
$1.5 million, or 16.0%. This year-over-year increase in property tax collections is
attributable to an increase in assessed valuation and the use of banked capacity.
[page 6]
• General Fund retail sales tax revenues totaled $7.3 million, and exceeded collections
through Q2-2016 by $38,000, or 0.5%. The primary area of significant increase in
sales activity compared to collections through Q2-2016 was in the automotive
category; this was offset by reductions in the services category. [pages 7-8]
• The other taxes category performed favorably through Q2-2017, with revenues totaling
$6.8 million compared to a budget of $6.6 million. City utility tax revenues exceeded
budget by $137,000, or 8.0%. Electric and natural gas revenues collected through
June exceeded budget by $121,000 and $58,000 respectively. In addition, leasehold
excise taxes collected were $151,000 above budget due to a $146,000 tax receipt for
the Emerald Downs property, which is tribally owned. Through this reporting period,
cable utility tax revenues were $237,000 below budget, although this is just a timing
issue where the Q2-2017 revenues associated with the cable utility tax (about
$265,000) were not received until July 2017. [pages 9-12]
• Building permit revenue collected through Q2-2017 totaled $714,000 compared to a
year-to-date budget of $727,000. [page 14]
• Public safety revenues collected through Q2-2017 totaled $474,000 compared to a
budget of $278,000. Revenues collected through the first half of 2017 were $132,000
higher than what was collected through the first half of 2016. This increased revenue
is due to additional contracted Police Officer 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 June 2017 totaled $600,000,
and ended the quarter $52,000, or 9.4%, higher than budget expectations. This was
predominately due to higher than budgeted revenues collected year-to-date for plan
check activity. [page 17]
• Rents and leases revenues ended the period $129,000 higher than budget. This
favorable variance is due to a combination of factors, including increased rentals of
City-owned facilities such as the new Community and Events Center as well as
increased deposits held for rentals. Also, effective in 2017, the City increased
inventory of parking spaces, some of which were rented on a 12-month term.
[pages 20-21]
3
Quarterly Financial Report Through Q2-2017 4
General Fund expenditures through the first half of 2017 totaled $31.1 million compared to a
year-to-date budget of $34.4 million, representing a 9.4% favorable variance. All of the General
Fund departments operated within their allocated budget through June 2017. The year to date
actuals for SCORE do not include the June payment of $316,000, which was paid in August;
this reduces the apparent favorable year to date variance from $395,000 to $79,000.
Year-to-date General Fund expenditures ended the period $2.0 million, or 6.8% higher than
expenditures through Q2-2016. Of the $2.0 million increase compared to the first half of 2016,
$1.2 million is related to higher costs for salary and benefits. Several factors contributed to the
increase in costs, 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. Through Q2-
2017, Arterial Street Fund revenues totaled $2.8 million as compared to collections of $1.2
million through Q2-2016; expenditures totaled $3.5 million as compared to expenditures of $1.5
million through Q2-2016. Local Street Fund revenues exceeded budget expectations thus far
this year by $430,000, or 46.4%, due to higher than anticipated sales tax revenues from local
construction projects; last year’s collections through Q2 totaled $1.2 million. Expenditures were
$210,000 as compared with $276,000 through Q2-2016. Lastly, the Arterial Street
Preservation Fund revenues totaled $1.2 million as compared to $1.1 million through Q2-2016,
while expenditures totaled $830,000 versus $356,000 through this time last year. 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]
$33.9 M
$34.4 M
$34.8 M
$31.1 M
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0
Revenues
Expenditures
$ Millions
General Fund
Q2-2017 Revenues vs. Expenditures 2017 YTD Actual
2017 YTD Budget
4
Quarterly Financial Report Through Q2-2017 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 Q2-2017, the Water Fund experienced operating income before depreciation of
$2.4 million compared to $2.1 million in Q2-2016. This variance is largely due to lower
expenditures in 2017 compared to 2016, during which the City purchased water from the City of
Tacoma. The Sewer Fund ended the quarter with operating income before depreciation of $1.3
million versus $1.2 million in Q2-2016. The Sewer-Metro Fund operating expenditures
exceeded revenues by $165,000 as compared to $192,000 in Q2-2016. This is generally a
byproduct of King County’s billing process, which uses statistics averaged over prior periods to
determine charges to the City; operating revenues were $440,000 higher than Q2-2016 and in
line with budget predictions. Lastly, the Stormwater Fund ended the quarter with operating
income before depreciation of $1.7 million compared to $1.5 million through Q2-2016. [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 33]
Investment Portfolio:
The City’s total cash and investments at the end of the second quarter of 2017 totaled $135.8
million, compared to $127.5 million at the end of the first quarter of 2017. [attachment]
5
Quarterly Financial Report Through Q2-2017 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 Q2-2017 totaled $11.0 million, which is 0.7% or $71,000
above budget expectations. Property tax collections through Q2-2017 exceeded amounts
through the same period last year by $1.5 million, or 16.0%. This year-over-year increase is
attributable to an increase in assessed valuation and the use of banked capacity. The majority
of property taxes 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
$22.0
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
$11.0
$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 Q2-2017 7
Sales tax collections through Q2-2017 totaled $8.5 million, of which $7.3 million was distributed
to the General Fund and $1.2 million was distributed to the Local Street Fund (SOS) program.*
Total sales tax revenue distributions to the General Fund through Q2-2017 exceeded collections
through Q2-2016 by $38,000, or 0.5%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred through Q2-2017 was $1,196,893. 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
$13.8 $14.5 $14.6
$7.3
$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 Q2-2017 8
The f ollowing table breaks out the City’s base sales taxes, excluding Criminal Justice and
Annexation Credit Sales Tax, by major business sector.
Total sales tax revenue collected in Q2-2017 exceeded prior year collections by $201,000, or
2.4%. The business sector showing the largest increase in General Fund revenues compared
to last year was in the construction and automotive categories.
Sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103) for
local street repair and maintenance, totaled $1,196,893, which is $164,000 more than what was
collected through Q2-2016 and is $423,000 higher than budget.
2016 2017
Component Group Actual Actual Amount
Construction 1,033,228$ 1,196,893$ 163,665$ 15.8 %
Manufacturing 419,006 374,489 (44,517)(10.6)%
Transportation & Warehousing 46,904 47,245 341 0.7 %
Wholesale Trade 603,496 641,660 38,164 6.3 %
Automotive 1,780,400 1,899,945 119,545 6.7 %
Retail Trade 2,436,545 2,426,714 (9,831)(0.4)%
Services 1,993,662 1,866,349 (127,314)(6.4)%
Miscellaneous (21,614) 39,785 61,399 (284.1)%
YTD Total 8,291,628$ 8,493,080$ 201,452$ 2.4 %
Comparison of Sales Tax Collections by SIC Group
Through June
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 Q2-2017 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 through Q2-2017 totaled $5.4 million and exceeded year-to-date budget by $276,000,
or 5.4%. Some utilities, such as Water, have cyclical revenue streams due mainly to weather;
this results in cyclical receipts of the associated utility taxes.
$1.9 $1.8
$2.3 $2.3
$1.2
$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
$12.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsUtility Tax
2017 Budget
2017 YTD Actual
2016 Actual
9
Quarterly Financial Report Through Q2-2017 10
Favorable variances in City interfund utility tax, electric tax, natural gas, and solid waste tax
revenues offset lower than expected collections for telecommunications.
2016 2017 2017
Utility Tax Type YTD Actual YTD Budget YTD Actual Amount Amount
City Interfund Utility Taxes 1,838,188$ 1,718,300$ 1,855,464$ $ 17,276 0.9 % $ 137,164 8.0 %
Electric 1,915,419 1,877,500 1,998,132 82,713 4.3 %120,632 6.4 %
Natural Gas 644,107 669,300 727,262 83,155 12.9 %57,962 8.7 %
Telephone 767,726 754,000 711,186 (56,540) (7.4)%(42,814) (5.7)%
Solid Waste (external)61,778 60,000 63,427 1,650 2.7 %3,427 5.7 %
YTD Total 5,227,218$ 5,079,100$ 5,355,471$ $ 128,254 2.5 % $ 276,371 5.4 %
Through June 2017
Utility Tax by Type
2017 vs. 2016 Actual 2017 vs. Budget
Percentage Percentage
$9.2 $9.5 $10.0 $9.7 $10.0
$5.4
$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 Q2-2017 11
Cable Franchise Fees, which are collected quarterly, totaled $502,000 and exceeded budget
by $21,000, or 4.4%.
$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
$0.5
$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 Q2-2017 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 is
collected quarterly. Although this revenue stream appears to be unfavorable to budget through
Q2-2017, this is just a timing issue whereas the revenues for April through June 2017
(approximately $265,000) were collected in July 2017. Both the Q1 and Q2 distributions,
totaling $528,000, exceeded the budget expectation of $250,000 per quarter.
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 June 2017 totaled $112,000, compared to a
budget of $100,000. 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 Q2-2017 13
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$220
$240
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
$112
$0
$50
$100
$150
$200
$250
$300
$350
2012 2013 2014 2015 2016 2017 YTDThousandsBusiness License Revenues
Actuals
13
Quarterly Financial Report Through Q2-2017 14
Building permit revenues collected through June totaled $714,000, compared to a year-to-date
budget of $727,000. Through Q2-2017, a total of 398 building permits were issued compared to
436 building permits issued through Q2-2016.
Major projects contributing to the revenues this quarter include building permits for Boeing,
tenant improvements at the Outlet Collection for the new Dave and Buster’s restaurant, and
numerous single family housing permits - most notably in Canyon Creek, Calla Crest, Wyncrest
and Hazelview. Of the $400,000 in building permit revenues collected in Q2-2017, 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
$0.7
$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 Q2-2017 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 Q2-2017 totaled $3.0 million and were $2,000,
or 0.1% higher than budget. Favorable variances in Criminal Justice High Crime revenues and
Muckleshoot Casino Service reimbursement are offset by the reduced Federal grant revenues
received year-to-date. Federal grant reimbursements to date are significantly lower than budget
expectations primarily due to delayed hiring of the Police Officers who are to be partially funded
by the Federal COPS grant.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
Federal Grants 95,083$ 175,900$ 72,562$ $ (22,521)(23.7)% $ (103,338)(58.7)%
State Grants 80,896 87,900 70,234 (10,662) (13.2)%(17,666) (20.1)%
Interlocal Grants 2,500 65,000 65,000 62,500 0.0 %0 0.0 %
Muckleshoot Casino Services 324,419 331,333 399,837 75,418 23.2 %68,504 20.7 %
Intergovernmental Service 0 0 0 0 N/A %0 N/A %
State Shared Revenues:
Streamlined Sales Tax 962,037 953,850 952,157 (9,880) (1.0)%(1,693) (0.2)%
Motor Vehicle Fuel Tax 538,381 579,800 533,050 (5,331) (1.0)%(46,750) (8.1)%
Criminal Justice - High Crime 0 192,000 286,498 286,498 N/A %94,498 49.2 %
Criminal Justice - Population 10,151 11,800 10,658 507 5.0 %(1,142) (9.7)%
Criminal Justice - Special Prog.37,115 39,200 38,776 1,661 4.5 %(424) (1.1)%
Marijuana Enforcement 9,757 17,000 19,665 9,908 101.6 %2,665 15.7 %
State DUI 5,907 6,000 5,877 (31) (0.5)%(123) (2.1)%
Fire Insurance Tax 76,569 75,000 78,078 1,509 N/A %3,078 4.1 %
Liquor Excise 180,280 183,600 188,473 8,194 4.5 %4,873 2.7 %
Liquor Profit 325,653 325,500 325,408 (245) (0.1)%(92) (0.0)%
Total State Shared:2,145,849 2,383,750 2,438,640 292,790 13.6 %54,890 2.3 %
YTD Total 2,648,748$ 3,043,883$ 3,046,274$ 397,526$ 15.0 %2,390$ 0.1 %
Through June 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
$3.0
$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 Q2-2017 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 June 2017 totaled $2.3 million compared to a budget of $2.1 million,
representing a favorable variance of $239,000, or 11.4%.
General governmental revenues collected through June 2017 totaled $41,000, compared to a
budget of $35,000.
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.
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 Q2-2017 totaled $474,000 compared to a budget of $278,000.
Revenues collected through the first half of 2017 were $132,000 higher than what was collected
through Q2-2016 predominately due to additional contracted Police Officer extra duty security
services (which are reimbursed by the hiring contractor) compared to the same period last year.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
General Government 46,237$ 35,000$ 41,494$ $ (4,743)(10.3)% $ 6,494 18.6 %
Public Safety 342,281 277,850 474,227 131,946 38.5 %196,377 70.7 %
Development Services 615,814 548,200 599,939 (15,875) (2.6)%51,739 9.4 %
Culture & Recreation 1,251,074 1,245,000 1,229,849 (21,224) (1.7)%(15,151) (1.2)%
YTD Total 2,255,406$ 2,106,050$ 2,345,509$ 90,103$ 4.0 % $ 239,459 11.4 %
Through June 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
$2.3
$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 Q2-2017 17
Development services fee collections, which primarily consist of plan check fees, totaled
$600,000 and ended the quarter $52,000, or 9.4%, higher than budget expectations. Plan
check revenues collected through Q2-2017 totaled $464,000 as compared with $453,000
collected the same period last year. Plan check revenues collected in Q2-2017 were primarily
from commercial projects, including a large distribution center on 287th Street, Multicare tenant
improvements, and Boeing. In addition, several single family housing plans were reviewed –
most notably in the Calla Crest and Hazelview 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
$0.6
$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 Q2-2017 18
Culture and recreation revenues collected through Q2-2017 totaled $1.2 million, and are
$15,000 (or 1.2%) below budget expectations. The majority of these revenues are derived from
greens fees and pro shop sales at the Auburn Golf Course, recreational classes, athletic league
fees, 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
$1.2
$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 Q2-2017 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 Q2-2017 totaled $444,000 and were
$5,000, or 1.1%, less than budget.
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Civil Penalties 5,151$ 6,200$ 4,578$ $ (573)(11.1)% $ (1,622)(26.2)%
Civil Infraction Penalties 235,442 246,600 253,216 17,774 7.5 %6,616 2.7 %
Redflex Photo Enforcement 10,849 0 6,063 (4,786) (44.1)%6,063 N/A %
Parking Infractions 70,624 74,000 74,384 3,760 5.3 %384 0.5 %
Criminal Traffic Misdemeanor 24,757 23,200 28,366 3,609 14.6 %5,166 22.3 %
Criminal Non-Traffic Fines 22,156 21,000 13,824 (8,332) (37.6)%(7,176) (34.2)%
Criminal Costs 29,751 22,400 25,204 (4,547) (15.3)%2,804 12.5 %
Non-Court Fines & Penalties 51,178 55,500 38,292 (12,886) (25.2)%(17,208) (31.0)%
YTD Total 449,907$ 448,900$ 443,925$ $ (5,981)(1.3)% $ (4,975)(1.1)%
Through June 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 Q2-2017 20
Miscellaneous revenues consist of investment earnings, income from facility rentals,
contributions & donations, and other miscellaneous income including the quarterly purchasing
card (P-card) rebate monies. Total revenues collected in this category through Q2-2017 totaled
$688,000 and exceeded budget expectations by $204,000.
Rents and leases revenue through June 2017 totaled $448,000 compared to prior year actuals
of $373,000. The majority of the year-over-year increase was seen in miscellaneous parks
unearned revenue. Due to an increase in facility rentals, the miscellaneous parks unearned
revenue (deposits) through Q2-2017 increased by $52,000 compared to collections through Q2-
2016. In addition, facilities rental revenue realized a $28,000 year-over-year increase due
primarily to the opening of the new Community and Events Center. Lastly, because additional
inventory of parking spaces were added in 2017, parking revenues collected year-to-date
through June increased by $12,000 compared to collections through June 2016.
$1.6
$1.4
$1.2
$0.9 $0.9
$0.4
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
2012 2013 2014 2015 2016 2017 YTDMillionsFines & Penalties
Actuals
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Interest & Investments 54,747$ 32,000$ 96,597$ 41,850$ 76.4 %64,597$ 201.9 %
Rents & Leases 373,158 318,600 447,860 74,702 20.0 %129,260 40.6 %
Contributions & Donations 11,818 15,800 20,545 8,727 73.8 %4,745 30.0 %
Other Miscellaneous Revenue 160,111 118,100 123,142 (36,969)(23.1)%5,042 4.3 %
YTD Total 599,833$ 484,500$ 688,144$ 88,310$ 14.7 %203,644$ 42.0 %
Miscellaneous Revenues by Type
Through June 2017
2017 vs. 2016 2017 vs. Budget
Percentage Percentage
20
Quarterly Financial Report Through Q2-2017 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 Q2-2017
totaled $1.7 million, and exceeds budget expectations by $337,000. Real estate sales in the
City of Auburn in Q2-2017 represent the sale of both commercial properties and numerous
single family residences. The commercial sales include the sale of a hotel, vacant land, retail
buildings and a warehouse building.
$0.8
$0.7
$1.0 $1.0
$1.2
$0.7
$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 574,925 254,200 234,480 (340,445) (59.2)%(19,720) (7.8)%
May 255,078 249,000 299,251 44,173 17.3 %50,251 20.2 %
Jun 329,081 317,200 353,807 24,727 7.5 %36,607 11.5 %
Jul 360,857
Aug 673,012
Sep 338,340
Oct 249,714
Nov 321,895
Dec 262,543
YTD Total 2,078,982$ 1,350,600$ 1,687,310$ (391,673)$ (18.8)%336,710$ 24.9 %
Annual Total 4,285,344$ 2,810,000$
Real Estate Excise Tax Revenues
June 2017
Percentage
2017 vs. 2016 2017 vs. Budget
Percentage
21
Quarterly Financial Report Through Q2-2017 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
$1.7
$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 Q2-2017 23
Pet Licensing
Through Q2-2017, 2,178 pet licenses were sold, resulting in $56,315 in revenue. Through Q2-
2016, 2,342 licenses were sold, resulting in $66,645 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 Q2-2017 24
Street Funds
This section provides a financial overview of the City’s three street funds for the quarter ending
June 30, 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 historical actual
revenue and expenditure distributions for the prior six 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 June 30, 2017 there were 28 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, increasing budgeted
revenues and expenditures significantly.
Through June 30, 2017, revenues collected totaled $2.8 million and compare to collections of
$1.2 million through Q2-2016. This variance is largely due to the timing of capital expenditures
and their subsequent reimbursement via federal grants. Total expenditures through Q2-2017
were $3.5 million and compare to $1.5 million spent through the same period last year. The
increase from YTD 2016 to 2017 is based on increased construction activity, as highlighted in
the table below and the associated graph .
Fund 102 - Arterial Street 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: June 2017 Budget Budget Actual Actual Amount
Revenues
Federal Grants 7,054,082$ 2,256,780$ 1,842,767$ 47,465$ (414,014)$ (18.3)%
State Grants 2,995,210 998,403 190,278 99,350 (808,126) (80.9)%
Motor Vehicle Fuel and Multimodal Taxes 583,000 281,097 265,954 290,906 (15,143) (5.4)%
Developer Contributions 809,221 286,407 46,233 - (240,174) (83.9)%
Miscellaneous Revenue 466,191 155,397 - 64,862 (155,397) (100.0)%
Other Governmental Agencies - - - - -
Public Works Trust Fund Loans - - - - -
Operating Transfer In 3,420,622 1,368,499 470,254 712,702 (898,245) (65.6)%
Investment Income 2,600 1,438 4,723 3,132 3,285 228.4 %
Total Revenues 15,330,926$ 5,348,022$ 2,820,209$ 1,218,417$ (2,527,812)$ (47.3)%
Expenditures
Salary and Benefits 285,000$ 133,685$ 354,273$ 235,491$ (220,588)$ (165.0)%
Capital Outlay 15,658,112 4,966,161 2,885,700 1,012,136 2,080,461 41.9 %
Subtotal - Capital Project Expenditures 15,943,112 5,099,846 3,239,973 1,247,626 1,859,873 36.5 %
Services and Charges 285,000 80,577 36,068 30,036 44,509 55.2 %
Interfund Payments for Services 76,681 38,341 38,340 37,278 1 0.0 %
Debt Service Principal and Interest 209,511 209,511 209,511 210,205 0 0.0 %
Operating Transfer Out 15,046 5,792 6,139 - (347) (6.0)
Total Expenditures 16,529,350$ 5,434,067$ 3,530,031$ 1,525,145$ 1,904,036$ 35.0 %
Net Change in Fund Balance (1,198,424)$ (86,046)$ (709,822)$ (306,728)$ (623,776)$ 724.9 %
Beg. Fund Balance, January 2017 2,529,388$
Net Change in Fund Balance, June 2017 (709,822)
Ending Fund Balance, June 2017 1,819,566$
2017 Budgeted Ending Fund Balance 1,330,964$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
24
Quarterly Financial Report Through Q2-2017 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 is nearing completion.
• S 277th Street Corridor and AWS Corridor Safety Improvement projects are currently under construction.
Name Annual Budget YTD Actual Remaining
W. Main St Multimodal Corridor & ITS Imp $1.6M $1.2M $0.3M
S. 277th St Corridor Improvements $4.3M $0.5M $3.9M
AWS Corridor Safety Imp. -- Muckleshoot Pl.$3.3M $0.9M $2.4M
All Other Projects (25 Others Budgeted)$6.8M $0.6M $6.1M
Total $15.9M $3.2M $12.7M
Fund 102 - Arterial Street
Capital Projects Status
25
Quarterly Financial Report Through Q2-2017 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 Q2-2017 the revenues in this fund
totaled $1.4 million, exceeding budget expectations by $430,000 due to higher than anticipated
sales tax revenues from local construction projects. This compares to collections of $1.2 million
through Q2-2016. Total expenditures through Q2 were $210,000 and compare to expenditures
of $276,000 through Q2-2016. Historically, well over half of this fund’s annual expenditures
occur in the final four months of each year due to the weather sensitivity of pavement
construction (this work needs to be done primarily in the summer and early fall). Highlighted in
the table below and the following graph are the subset of the fund’s total expenditures related to
capital projects.
Fund 103 - Local Street Fund 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: June 2017 Budget Budget Actual Actual Amount
Revenues
Sales Tax on Construction 1,750,000$ 774,167$ 1,196,893$ 1,033,228$ 422,726$ 54.6 %
Operating Transfer In 150,000 150,000 150,000$ 150,000 - 0.0 %
Interest Earnings 9,100 4,175 11,881$ 5,246 7,706 184.6 %
Total Revenues 1,909,100$ 928,342$ 1,358,774$ 1,188,474$ 430,432$ 46.4 %
Expenditures
Salary and Benefits 148,568$ 67,925$ 64,852$ 59,636$ 3,073$ 4.5 %
Capital Outlay 2,933,969 546,148 133,420 209,596 412,728 75.6 %
Subtotal - Capital Project Expenditures 3,082,537 614,073 198,272 269,233 415,801 67.7 %
Services and Charges 25,680 8,674 294 407 8,379 96.6 %
Interfund Payments for Services 11,925 5,963 5,958 6,120 5 0.1 %
Operating Transfer Out 11,051 3,795 5,700 - (1,905) (50.2)
Total Expenditures 3,131,193$ 632,504$ 210,224$ 275,760$ 422,280$ 66.8 %
Net Change in Fund Balance (1,222,093)$ 295,838$ 1,148,550$ 912,714$ 852,712$ 288.2 %
Beg. Fund Balance, January 2017 2,115,236$
Net Change in Fund Balance, June 2017 1,148,550
Ending Fund Balance, June 2017 3,263,786$
2017 Budgeted Ending Fund Balance 893,143$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
26
Quarterly Financial Report Through Q2-2017 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 was awarded for construction by the City Council on July 3, 2017
and is currently under construction.
$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
$3.1M
2016 YTD Actual
$269K
2017 YTD Actual
$198K
*Data consists of capital outlays, salaries, and benefits.
Name Annual Budget YTD Actual Remaining
2016 Local Street Pavement Reconst.$0.07M $0.06M $0.0M
2017 Local St. Reconst. & Preservation $2.87M $0.1M $2.8M
Total $2.9M $0.13M $2.8M
Fund 103 - Local Street
Capital Projects Status
27
Quarterly Financial Report Through Q2-2017 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. Major projects budgeted within the Arterial Street
Preservation Fund in 2017 include 15th Street NE/NW Preservation, Auburn Way North
Preservation, and the B Street NW Reconstruction project. Through Q2-2017 revenues totaled
$1.2 million and compare to collections of $1.1 million through Q2-1016.
Total expenditures through Q2-2017 were $831,000, which compares to expenditures of
$354,000 through Q2-2016. Historically, the majority of this fund’s expenditures occur in the
second half of each year due to the weather sensitivity of pavement construction (this work
needs to be done primarily in the summer and early fall). Highlighted in the table below and the
following graph are the subset of the fund’s total expenditures related to capital projects.
28
Quarterly Financial Report Through Q2-2017 29
This table presents the status of the projects with the most significant impacts on the fund:
Notes:
• Auburn Way North Preservation is nearing completion.
• B Street NW Reconstruction was awarded for construction by the City Council on June 19, 2017 and is
currently under construction.
• 15th Street NE/NW Preservation project construction will be delayed until 2018 due to the Puget Sound
Regional Council’s (PSRC’s) modification of the Grant’s obligation year to FFY2018. This revision was part
of a region wide effort to address federal grant funding restrictions for FY 2017, 2018, 2019 and 2020.
$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
$188K
2017 YTD Actual
$820K
*Data consists of capital outlays,salaries and benefits
Name Annual Budget YTD Actual Remaining
15th St NE/NW Preservation $1.5M $0.01M $1.5M
Auburn Way North Preservation $1.7M $0.64M $1.1M
B Street NW Reconstruction $2.7M $0.02M $2.7M
All Other Projects (4 Others Budgeted)$1.4M $0.1M $1.3M
Total $7.4M $0.8M $6.6M
Capital Projects Status
Fund 105 - Arterial Street Preservation
29
Quarterly Financial Report Through Q2-2017 30
Fund 124 – Mitigation Fees
The Mitigation Fees Fund is a Special Revenue Fund funded from revenue from new
development, which is assessed at the time applications are received for development activity.
These funds are used to mitigate costs associated with City growth. Through Q2-2017,
revenues were above budget expectations, at 66.8% of the annual budgeted amount.
Expenditures were well below budget due to the timing of capital projects funded by these
revenues, which historically occur during the second half of the year when conditions are more
favorable for construction.
Fund 124 - Mitigation Fees
Summary of Sources and Uses
Report Period Through:Ending Ending
June 2017 Fund Balance Fund Balance
Transportation Impact Fees 610,108$ 451,856$ 5,312,547$ 800,000$ 3,264,472$ 919,205$
Transportation Migitation Fees 72,337 - 336,614 - 30,000 134,550
Fire Impact Fees 109,789 - 409,600 100,000 50,000 350,000
Fire Mitigation Fees - - 81 - - 81
Parks Impact Fees 441,076 100,000 5,147,510 600,000 545,000 1,205,000
Parks Mitigation Fees - - 331,327 - - 330,300
School Impact Admin Fees 5,914 - 52,834 12,000 - 105,115
Wetland Mitigation Fees - - 68,835 - 31,570 37,030
Interest and Investment Income 43,870 - 43,870 8,200 - 8,200
Fees in Lieu of Improvements - - 122,525 - - -
Operating Transfers - - - 400,000 - 400,000
Total 1,283,093$ 551,856$ 11,825,743$ 1,920,200$ 3,921,042$ 3,489,481$
Beginning Fund Balance, January 2017 5,490,323$
Net Change in Fund Balance, June 2017 731,238
Ending Fund Balance, June 2017 6,221,561$
2017 Budgeted Ending Fund Balance 3,489,481$
YTD ACTUALS BUDGET
Revenues Expenditures Revenues Expenditures
30
Quarterly Financial Report Through Q2-2017 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.
Through Q2-2017, the Water Utility had operating income before depreciation of $2.4 million as
compared with $1.9 million through Q2-2016. The increase in operating income is largely due to
lower expenditures in 2017 compared to 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, with four wells and two springs providing the City’s water supply and the
remaining two wells anticipated to return to service in early fall, minimal regional water
purchases are anticipated for 2017.
Water sales through Q2-2017 totaled 1.3 million hundred cubic feet (ccf), compared to 1.6
million ccf in 2016, representing a 13.8% decrease due to lower water consumption. This is part
of a general trend of decreased year-over-year water consumption per account due largely to
conservation efforts and appliance efficiency improvements. Additionally, the City has not
provided water to Water District #111 since its contract was renegotiated. Revenues ended the
quarter in line with budget expectations.
31
Quarterly Financial Report Through Q2-2017 32
The Sewer Utility finished Q2-2017 with operating income before depreciation of $1.3 million,
approximately $100,000 greater than Q2-2016 due primarily to higher service revenues in 2017.
The Sewer-Metro Utility ended the second quarter with operating income before depreciation
of $165,000, as compared with $192,000 in Q1-2016. Variances in this fund 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 Q2-2017 with operating income before depreciation of $1.7
million, compared with $1.5 million through Q2-2016. The difference is largely due to higher
service revenues in 2017.
The Cemetery Fund ended Q2-2017 with an operating income of $100,000 as compared with
an operating income of $178,000 in through Q2-2016. This variance is mainly due to lower
revenue from lot sales, which at $235,000 year-to-date are above average, but low compared to
the previous two years, which were exceptional ($299,00 through Q2-2016).
32
Quarterly Financial Report Through Q2-2017 33
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2017. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
33
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 128,494,910$ Various 0.98%
KeyBank Money Market Various 6,043,749 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 135,773,423$ 0.940%
Investment Mix % of Total
State Investment Pool 94.6%Current 6-month treasury rate 1.11%
KeyBank Money Market 4.5%Current State Pool rate 0.98%
US Treasury 0.0%KeyBank Money Market 0.02%
FNMA 0.7%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
June 30, 2017
Summary
34
SALES TAX SUMMARY
JUNE 2017 SALES TAX DISTRIBUTIONS (FOR APRIL 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-Apr '16)(Nov '16-Apr '17)% Diff NAICS AUTOMOTIVE (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff
236 Construction of Buildings 1,139,466 515,670 673,927 30.7%441 Motor Vehicle and Parts Dealer 3,409,019 1,664,133 1,771,383 6.4%
237 Heavy and Civil Construction 309,344 117,032 87,476 -25.3%447 Gasoline Stations 250,478 116,267 128,562 10.6%
238 Specialty Trade Contractors 843,470 400,526 435,490 8.7%TOTAL AUTOMOTIVE 3,659,497$ 1,780,400$ 1,899,945$ 6.7%
TOTAL CONSTRUCTION 2,292,280$ 1,033,228$ 1,196,893$ 15.8%Overall Change from Previous Year 119,545$
Overall Change from Previous Year 163,665$
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-Apr '16)(Nov '16-Apr '17)% Diff
NAICS MANUFACTURING (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff 442 Furniture and Home Furnishings 185,234 83,307 c 100,407 20.5%
311 Food Manufacturing 3,278 1,679 2,777 65.4%443 Electronics and Appliances 220,553 124,066 104,146 -16.1%
312 Beverage and Tobacco Products 9,601 4,902 3,557 -27.4%444 Building Material and Garden 579,076 269,473 259,705 -3.6%
313 Textile Mills 415 176 93 -47.6%445 Food and Beverage Stores 397,177 189,338 a 181,069 -4.4%
314 Textile Product Mills 3,554 1,800 658 -63.4%446 Health and Personal Care Store 284,191 128,769 184,781 43.5%
315 Apparel Manufacturing 155 135 81 -40.4%448 Clothing and Accessories 1,136,431 570,439 551,953 d -3.2%
316 Leather and Allied Products 38 18 25 38.2%451 Sporting Goods, Hobby, Books 237,555 124,081 103,093 -16.9%
321 Wood Product Manufacturing 58,391 29,583 7,934 -73.2%452 General Merchandise Stores 1,017,905 541,376 521,330 -3.7%
322 Paper Manufacturing 8,047 3,892 8,455 117.3%453 Miscellaneous Store Retailers 473,398 246,150 237,153 -3.7%
323 Printing and Related Support 52,610 24,551 26,574 8.2%454 Nonstore Retailers 321,071 159,546 183,077 14.7%
324 Petroleum and Coal Products 2,145 1,706 339 -80.1%TOTAL RETAIL TRADE 4,852,592$ 2,436,545$ 2,426,714$ -0.4%
325 Chemical Manufacturing 10,183 3,283 8,548 160.4%Overall Change from Previous Year (9,831)$
326 Plastics and Rubber Products 8,168 4,274 3,884 -9.1%
327 Nonmetallic Mineral Products 17,429 7,350 7,728 5.1%
331 Primary Metal Manufacturing 442 183 496 170.3%2016 Annual Total 2016 YTD 2017 YTD YTD
332 Fabricated Metal Product Manuf 29,409 15,642 17,694 13.1%NAICS SERVICES (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff
333 Machinery Manufacturing 16,461 7,468 7,961 6.6%51*Information 630,158 302,035 331,192 9.7%
334 Computer and Electronic Product 10,780 4,790 10,763 124.7%52*Finance and Insurance 110,728 53,595 58,155 8.5%
335 Electric Equipment, Appliances 445 296 449 51.6%53*Real Estate, Rental, Leasing 358,628 180,254 173,046 -4.0%
336 Transportation Equipment Man 471,441 274,212 242,605 -11.5%541 Professional, Scientific, Tech 237,656 120,212 121,951 1.4%
337 Furniture and Related Products 18,661 8,586 10,555 22.9%551 Company Management 330 170 12 -93.2%
339 Miscellaneous Manufacturing 39,437 24,478 13,312 -45.6%56*Admin. Supp., Remed Svcs 328,453 180,907 136,466 -24.6%
TOTAL MANUFACTURING 761,091$ 419,006$ 374,489$ -10.6%611 Educational Services 50,026 23,226 25,448 9.6%
Overall Change from Previous Year (44,517)$ 62*Health Care Social Assistance 91,643 46,740 40,364 -13.6%
71*Arts and Entertainment 156,301 95,282 41,752 -56.2%
72*Accommodation and Food Svcs 1,217,734 576,727 602,715 4.5%
2016 Annual Total 2016 YTD 2017 YTD YTD 81*Other Services 646,579 383,885 261,725 -31.8%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff 92*Public Administration 141,806 74,336 73,523 -1.1%
481 Air Transportation 1 1 2 61.8%TOTAL SERVICES 3,970,042$ 2,037,369$ 1,866,349$ -8.4%
482 Rail Transportation 24,331 5,932 18,157 206.1%Overall Change from Previous Year (171,020)$
484 Truck Transportation 7,067 1,844 1,884 2.2%
485 Transit and Ground Passengers 114 24 -3,390 -14345.5%
488 Transportation Support 52,828 30,745 23,404 -23.9%2016 Annual Total 2016 YTD 2017 YTD YTD
491 Postal Service 274 141 149 5.8%NAICS MISCELLANEOUS (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff
492 Couriers and Messengers 301 191 524 173.5%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 14,523 8,026 6,516 -18.8%111-115 Agriculture, Forestry, Fishing 5,534 2,805 2,953 5.3%
TOTAL TRANSPORTATION 99,439$ 46,904$ 47,245$ 0.7%211-221 Mining & Utilities 29,410 11,944 10,901 -8.7%
Overall Change from Previous Year 341$ 999 Unclassifiable Establishments 32,161 -32,039 b 25,932 -180.9%
TOTAL SERVICES 67,105$ (17,289)$ 39,785$ -330.1%
Overall Change from Previous Year 57,075$
2016 Annual Total 2016 YTD 2017 YTD YTD
NAICS WHOLESALE TRADE (Nov '15-Oct '16)(Nov '15-Apr '16)(Nov '16-Apr '17)% Diff
423 Wholesale Trade, Durable Goods 981,820 466,543 509,344 9.2%GRAND TOTAL 16,967,023 8,339,659 8,493,080
424 Wholesale Trade, Nondurable 281,166 135,871 129,173 -4.9%Overall Change from Previous Year 153,421 1.8%
425 Wholesale Electronic Markets 1,991 1,082 3,143 190.6%
TOTAL WHOLESALE 1,264,976$ 603,496$ 641,660$ 6.3%Total June 2017 Sales Tax Distributions 1,323,690$
Overall Change from Previous Year 38,164$ Dollar Decrease from June 2016 (52,534)$
Percent Decrease from June 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: $10,572).June 2016 8,339,659 6,963,435 1,376,224$
b. WA State Dept of Revenue audit adjustment to sales tax returns for period of April 2016 (adjustment: - $52,898).June 2015 8,091,609 6,800,888 1,290,721$
c. WA State Dept of Revenue audit adjustment to sales tax returns for period of May 2016 (adjustment: - $16,496).
d. WA State Dept of Revenue audit adjustment to sales tax returns for period of April 2017 (adjustment: - $29,746).
06/23/17
Prepared by Auburn Finance Department
-3.8%
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 6,279,820 (8,450,691) 8,102,441 4,334,863 (3,767,578) 17,237,490 8,808,387 (8,429,103) 9,242,676 4,889,583 (4,353,093)
Grants - - - - - -
Interest Earnings 10,000 36,671 26,671 20,000 13,312 (6,688) 1,000 3,658 2,658 15,000 8,865 (6,135)
Operating Transfers - - -
Rents, Leases, Concessions, & Other 212,939 105,418 (107,521) 72,849 44,353 (28,496) - - - 60,951 41,180 (19,771)
TOTAL OPERATING REVENUES 14,953,450 6,421,909 (8,531,541) 8,195,290 4,392,528 (3,802,762) 17,238,490 8,812,045 (8,426,445) 9,318,627 4,939,627 (4,379,000)
OPERATING EXPENSES
Salaries & Wages 2,688,501 1,288,359 1,400,142 1,742,176 888,995 853,181 - - - 2,500,996 1,288,455 1,212,541
Benefits 1,314,301 608,571 705,730 842,110 406,226 435,884 - - - 1,233,452 603,125 630,327
Supplies 334,444 111,797 222,647 136,750 43,292 93,458 - - - 94,750 33,617 61,133
Other Service Charges 4,959,380 1,248,901 3,710,479 2,867,890 1,224,097 1,643,793 - - - 1,733,290 639,659 1,093,631
Intergovernmental Services (Less Transfers Out)- - - 403,332 2,210 401,122 583,312 - 583,312
Waste Management Payments see Note
Sewer Metro Services 17,294,700 8,647,013 8,647,687
Debt Service Interest 1,345,282 72,728 1,272,554 276,483 13,335 263,148 - - - 361,418 - 361,418
Net Change Restricted Assets
Interfund Operating Rentals & Supplies 1,422,716 711,401 711,315 1,039,865 521,739 518,126 - - - 1,441,066 721,567 719,499
TOTAL OPERATING EXPENSES 12,064,624 4,041,756 8,022,868 7,308,606 3,099,893 4,208,713 17,294,700 8,647,013 8,647,687 7,948,284 3,286,422 4,661,862
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*)2,888,826 2,380,153 (508,673) 886,684 1,292,635 405,951 (56,210) 165,032 221,242 1,370,343 1,653,205 282,862
Transfer to Capital Subfund 1,000,000 - 1,000,000 1,000,000 - 1,400,000 -
Other Operating Transfers 331,166 56,865 274,301 393,832 38,704 355,128 500,312 131,526 368,786
Debt Service Principal 1,732,527 624,107 1,108,420 541,127 288,262 252,865 413,162 - 413,162
Net Change in Restricted Net Assets - 964,064 964,064 - 131,232 131,232 - 985,630 985,630
BEGINNING WORKING CAPITAL - January 1, 2017 4,745,398 7,977,666 3,232,268 1,821,037 2,810,410 989,373 2,374,705 2,672,022 297,317 2,132,662 2,005,792 (126,870)
ENDING WORKING CAPITAL - June 30, 2017 4,570,531 8,712,783 4,142,252 772,762 3,644,847 2,872,085 2,318,495 2,837,054 518,559 1,189,531 2,541,840 1,352,309
NET CHANGE IN WORKING CAPITAL (see Note)(174,867) 735,117 909,984 (1,048,275) 834,437 1,882,712 (56,210) 165,032 221,242 (943,131) 536,048 1,479,179
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue - 7,873 7,873 - 47,917 47,917 - 49,851 49,851
Grants 175,000 - (175,000) - - -
Contributions - - - - - - -
Other Non-Operating Revenue - - - - - - - - -
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - -
Increase In Contributions - System Development 1,000,000 287,024 (712,976) 500,000 165,214 (334,786) 500,000 237,994 (262,006)
Interfund Revenues - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - -
Proceeds of Debt Activity 5,402,159 6,808 (5,395,351) - - - - - -
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 7,777,159 301,705 (7,475,454) 1,500,000 213,131 (1,286,869) 1,900,000 287,845 (1,612,155)
CAPITAL EXPENSES
Other Non-Operating Expense - (572,557) 572,557 - - - - (800,501) 800,501
Increase In Fixed Assets - Salaries 382,143 88,935 293,208 86,429 32,085 54,344 152,143 94,487 57,657
Increase In Fixed Assets - Benefits 152,857 40,047 112,810 34,571 14,643 19,928 60,857 41,834 19,023
Increase In Fixed Assets - Services - 4,107 (4,107) - 2,324 (2,324) - - -
Increase In Fixed Assets - Site Improvements - 18,287 (18,287) - - - - -
Increase In Fixed Assets - Equipment - - -
Increase In Fixed Assets - Construction 10,544,977 1,496,788 9,048,189 2,686,218 240,298 2,445,920 3,906,304 1,057,298 2,849,007
Increase In Fixed Assets - Other - - - 3,135 (3,135)
Operating Transfers Out 50,000 50,000 - 50,000 50,000 - 156,000 50,000 106,000
TOTAL CAPITAL EXPENSES 11,129,977 1,125,608 10,004,369 2,857,218 339,350 2,517,868 4,275,304 446,252 3,829,052
BEGINNING WORKING CAPITAL - January 1, 2017 4,013,871 1,936,373 (2,077,498) 9,178,437 12,710,295 3,531,858 12,722,447 13,379,700 657,253
661,053 1,112,470 451,417 7,821,219 12,584,076 4,762,857 10,347,143 13,221,293 2,874,150
NET CHANGE IN WORKING CAPITAL (see Note)(3,352,818) (823,903) 2,528,915 (1,357,218) (126,220) 1,230,998 (2,375,304) (158,407) 2,216,897
Total Change in Working Capital (3,527,685) (88,786) 3,438,899 (2,405,493) 708,218 3,113,711 (56,210) 165,032 221,242 (3,318,435) 377,641 3,696,076
ENDING WORKING CAPITAL - June 30, 2017
Working Capital = Current Assets
minus Current Liabilities
ENTERPRISE FUNDSOPERATING & CAPITAL FUNDS
WATER SEWER SEWER METRO STORMCash Basis through June 2017
8/9/2017 12:52 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)
Waste Management Payments see Note
Sewer Metro Services
Debt Service Interest
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*)
Transfer to Capital Subfund
Other Operating Transfers
Debt Service Principal
Net Change in Restricted Net Assets
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - June 30, 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
ENDING WORKING CAPITAL - June 30, 2017
Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
Cash Basis through June 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 7,323,558 (7,492,642) 807,800 429,482 (378,318) 927,500 645,218 (282,282) - - -
87,300 5,452 (81,848) - - - - -
9,000 15,963 6,963 2,500 2,305 (195) 800 1,609 809 1,500 2,561 1,061
200,000 - (200,000) 670,715 335,358 (335,358)
- - - 3,000 4,401 1,401 - - - -
14,912,500 7,344,973 (7,567,527) 813,300 436,188 (377,112) 1,128,300 646,827 (481,473) 672,215 337,918 (334,297)
325,910 160,993 164,917 - - - 475,628 240,566 235,062 - - -
147,414 71,325 76,089 - - - 258,734 125,302 133,432 225,750 33,831 191,919
36,542 973 35,569 2,500 - 2,500 221,700 113,654 108,046 - - -
1,576,565 714,204 862,361 484,950 234,658 250,292 156,750 43,128 113,622 4,230 544,164 (539,934)
363,600 91,202 272,398 - - - 1,332 147 1,185 - - -
11,975,500 4,866,458 7,109,042
- - - 24,357 4,860 19,497 (0) - (0) - - -
39,942 19,914 20,028
111,587 55,794 55,793 1,400 702 698 47,833 23,916 23,917 - - -
14,537,118 5,960,950 8,576,168 553,149 260,134 293,015 1,161,977 546,712 615,265 229,980 577,995 (348,015)
375,382 1,384,024 1,008,642 260,151 176,054 (84,097) (33,677) 100,115 133,792 442,235 (240,077) (682,312)
- - - - - - 1,332 147 1,185
165,000 - 165,000 - - -
- (10,513) (10,513) - - -
3,849,877 4,411,853 561,976 188,565 236,649 48,084 277,586 293,829 16,243 1,312,689 1,385,685 72,996
4,225,259 5,795,876 1,570,617 283,716 423,216 139,500 243,909 393,944 150,035 1,754,924 1,145,608 (609,316)
375,382 1,384,024 1,008,642 95,151 186,567 91,416 (33,677) 100,115 133,792 442,235 (240,077) (682,312)
- 1,400 1,400 - 952 952
16,667 - (16,667) - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
300,000 - (300,000) - - -
- - - - - -
275,000 255,608 (19,392) - - -
- - - - - -
591,667 257,008 (334,659) - 952 952
- - - - - -
21,429 - 21,429 - - -
8,571 - 8,571 - - -
- - - - - -
- - - -
- -
608,334 275,035 333,299 - - -
- -
- - - - - -
638,334 275,035 363,299 - - -
158,410 360,602 202,192 157,301 256,633 99,332
111,743 342,575 230,832 157,301 257,585 100,284
(46,667) (18,027) 28,640 - 952 952
375,382 1,384,024 48,484 168,540 120,056 (33,677) 101,067 134,744 442,235 (240,077) (682,312)
Note: Working capital balance only includes five Waste
Management payments due to the timing of June's
payment ($988,974), which will be made in July.
INTERNAL SERVICE FUNDS
INSURANCE
ENTERPRISE FUNDS
SOLID WASTE AIRPORT CEMETERY
see Note
8/9/2017 12:52 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)
Waste Management Payments see Note
Sewer Metro Services
Debt Service Interest
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION (*)
Transfer to Capital Subfund
Other Operating Transfers
Debt Service Principal
Net Change in Restricted Net Assets
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - June 30, 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
ENDING WORKING CAPITAL - June 30, 2017
Working Capital = Current Assets
minus Current Liabilities
OPERATING & CAPITAL FUNDS
Cash Basis through June 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
961,300 470,617 (490,683) 3,453,700 1,739,997 (1,713,703) 6,038,376 3,019,520 (3,018,856) 2,263,102 1,141,471 (1,121,631)
- - - - - -
2,600 4,624 2,024 8,800 8,147 (653) 5,000 4,888 (112) - 10,626 10,626
579,916 108,729 (471,187) 720,000 100,000 (620,000)
93,000 1,742 (91,258) - 36,816 36,816 - - - - 107,785 107,785
1,056,900 476,983 (579,917) 3,462,500 1,784,959 (1,677,541) 6,623,292 3,133,136 (3,490,156) 2,983,102 1,359,882 (1,623,220)
76,324 38,396 37,928 655,000 309,658 345,342 1,822,981 894,909 928,072 681,943 287,693 394,250
364,638 44,471 320,167 358,001 164,832 193,169 817,418 383,194 434,224 349,650 145,445 204,205
- - - 150,220 58,958 91,262 508,250 170,284 337,966 1,074,000 380,194 693,806
492,915 154,902 338,013 1,818,387 619,281 1,199,106 2,809,630 1,407,980 1,401,650 427,580 173,946 253,634
- - - - - - - - - - - -
- - - - - - - - - 3,843 2,077 1,766
- - - 140,784 70,392 70,392 191,031 95,508 95,523 231,152 115,676 115,476
933,877 237,769 696,108 3,122,392 1,223,121 1,899,271 6,149,310 2,951,875 3,197,435 2,768,168 1,105,032 1,663,136
123,023 239,214 116,191 340,108 561,838 221,730 473,982 181,262 (292,720) 214,934 254,850 39,916
400 400 - - - -
40,297 20,043 20,254
- - - - (36,241) (36,241)
787,022 1,097,368 310,346 1,762,019 1,853,016 90,997 295,416 1,064,713 769,297 2,268,495 2,749,240 480,745
910,045 1,336,581 426,536 2,102,127 2,414,854 312,727 768,998 1,245,574 476,576 2,443,132 3,020,288 577,156
123,023 239,214 116,191 340,108 561,838 221,730 473,582 180,862 (292,720) 174,637 271,048 96,411
- 7,975 7,975 - 11,819 11,819
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - 1,703,631 851,814 (851,817)
- - - - - -
- - - - - -
- 52,202 52,202 - - -
169,232 - (169,232) 390,927 65,129 (325,798)
- - - - - -
169,232 60,177 (109,055) 2,094,558 928,762 (1,165,796)
- - - - - -
- 1,548 (1,548) - - -
- 565 (565) - - -
- - - - - -
- -
- 302,186 (302,186) 1,961,665 862,140 1,099,525
16,814 (16,814) 710,000 - 710,000
- -
- - - - - -
- 321,113 (321,113) 2,671,665 862,140 1,809,525
1,925,983 2,319,577 393,594 1,761,822 3,020,402 1,258,580
2,095,215 2,058,641 (36,574) 1,184,715 3,087,024 1,902,309
169,232 (260,936) (430,168) (577,107) 66,622 643,729
123,023 239,214 116,191 340,108 561,838 221,730 642,814 (80,074) (722,888) (402,470) 337,670 740,140
INTERNAL SERVICE FUNDS
WORKER'S COMPENSATION FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL
8/9/2017 12:52 PM
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INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Services 6,279,820$ 4,334,863$ -$ 4,889,583$ 7,323,558$ 25,432$ 645,218$ -$ -$ -$ -$ -$
Interfund Charges For Services - - - - - - - - 472,358 1,687,098 2,985,513 1,993,285
Sewer Metro Services Revenue - - 8,808,387 - - - - - - - - -
Rents, Leases, Concessions & Other - - - - - 404,050 - - - 52,899 34,006 -
TOTAL OPERATING REVENUES 6,279,820$ 4,334,863$ 8,808,387$ 4,889,583$ 7,323,558$ 429,482$ 645,218$ -$ 472,358$ 1,739,997$ 3,019,520$ 1,993,285$
OPERATING EXPENSES
Administration & Other 2,245,806$ 2,262,240$ -$ 1,685,007$ 850,295$ 30,846$ 164,548$ 577,995$ -$ -$ -$ 413,027$
Operations & Maintenance 1,723,222 826,643 8,647,013 1,604,551 5,110,655 204,513 382,017 - 237,769 1,223,121 2,951,875 689,928
Depreciation & Amortization 1,642,014 1,103,538 - 947,932 9,410 232,447 25,382 - - - 382,067 548,369
TOTAL OPERATING EXPENSES 5,611,042$ 4,192,421$ 8,647,013$ 4,237,490$ 5,970,360$ 467,807$ 571,947$ 577,995$ 237,769$ 1,223,121$ 3,333,942$ 1,651,324$
OPERATING INCOME (LOSS)668,778$ 142,443$ 161,374$ 652,093$ 1,353,198$ (38,325)$ 73,271$ (577,995)$ 234,589$ 516,875$ (314,423)$ 341,960$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 44,544$ 61,229$ 3,658$ 58,716$ 15,963$ 3,705$ 2,561$ 2,561$ 4,624$ 8,147$ 12,863$ 22,445$
Other Non-Operating Revenue 105,418 37,461 - 41,180 5,452 4,401 - - - 36,816 - 105,840
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - 1,946
Other Non-Operating Expense (72,728) (63,335) - - - (4,860) - - - - - (2,077)
TOTAL NON-OPERATING REVENUES & EXPENSES 77,234$ 35,355$ 3,658$ 99,896$ 21,416$ 3,246$ 2,561$ 2,561$ 4,624$ 44,963$ 12,863$ 128,153$
746,012$ 177,798$ 165,032$ 751,989$ 1,374,614$ (35,079)$ 75,832$ (575,434)$ 239,214$ 561,838$ (301,560)$ 470,114$
Contributions 287,024$ 172,105$ -$ 237,994$ -$ -$ -$ -$ -$ -$ -$ -$
Transfers In - - - - - 255,608 - 335,358 - - 160,931 165,129
Transfers Out (106,865) (38,704) - (181,526) - - (147) - - (403,518) (400) -
TOTAL CONTRIBUTIONS & TRANSFERS 180,159$ 133,401$ -$ 56,468$ -$ 255,608$ (147)$ 335,358$ -$ (403,518)$ 160,531$ 165,129$
CHANGE IN FUND BALANCE 926,171$ 311,199$ 165,032$ 808,456$ 1,374,614$ 220,529$ 75,685$ (240,077)$ 239,214$ 158,320$ (141,029)$ 635,242$
BEGINNING FUND BALANCE - January 1, 2017 75,751,705$ 81,919,221$ 2,672,022$ 64,010,652$ 4,245,695$ 9,514,116$ 1,374,410$ 1,385,685$ 1,064,528$ 1,530,324$ 4,291,351$ 10,920,413$
ENDING FUND BALANCE - June 30, 2017 76,677,877$ 82,230,420$ 2,837,054$ 64,819,109$ 5,620,309$ 9,734,645$ 1,450,095$ 1,145,608$ 1,303,741$ 1,688,644$ 4,150,323$ 11,555,656$
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 June 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
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
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