HomeMy WebLinkAboutQ3 2017 Financial Report
AGENDA BILL APPROVAL FORM
Agenda Subject: 3rd Quarter 2017 Financial Report Date: November 1, 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 year to
date through the third quarter 2017 status report based on financial data available as of October 13, 2017
for the period ending September 30, 2017 and sales tax information representing business activity that
occurred through July 2017.
Staff: Coleman
Meeting Date: November 27, 2017 Item Number:
1
Quarterly Financial Report Through Q3-2017
General Fund Summary
Property TaxesSales TaxesOther TaxesIntergovernmental(Grants, etc.)DevelopmentService FeesCulture &RecreationOther Fees& ChargesOtherRevenuesPersonnelSupplies& ServicesIntergovernmentalOther ExpendituresRevenues Expenditures
$0
$5
$10
$15
$20
$25
$30
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Revenues and Expenditures
(Through September 2017)Council& MayorAdministrativeServicesCommunity &Human ServicesMunicipal Court& ProbationHumanResourcesFinanceCity AttorneyCommunityDevelopmentJail - SCOREPolicePublic WorksParks, Arts& RecreationStreetsNon-Departmental$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
$20
$22
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Expenditures by Department
(Through September 2017)
2
Quarterly Financial Report Through Q3-2017 2
General Fund 2016
Summary of Sources and Uses Annual YTD YTD YTD
Budget Budget Actual Actual Amount
Operating Revenues
Property Tax 6 20,652,000$ 11,416,200$ 11,476,537$ 9,920,666$ 60,337$ 0.5 %
Sales Tax 7-8 14,746,000 11,059,200 11,054,167 10,969,821 (5,033)(0.0)%
Sales Tax - Pierce County Parks 75,000 55,300 70,929 66,207 15,629 28.3 %
Sales Tax - Annexation Credit 2,032,100 1,510,800 1,530,028 1,500,373 19,228 1.3 %
Criminal Justice Sales Tax 1,889,400 1,395,800 1,499,435 1,454,287 103,635 7.4 %
Brokered Natural Gas Tax 351,800 280,200 134,037 177,005 (146,163)(52.2)%
City Utilities Tax 9-10 3,936,300 2,906,800 2,884,928 2,901,188 (21,872)(0.8)%
Admissions Tax 317,000 236,600 319,643 269,321 83,043 35.1 %
Electric Tax 9-10 3,560,000 2,700,700 2,850,764 2,733,513 150,064 5.6 %
Natural Gas Tax 9-10 1,001,200 879,400 960,214 833,093 80,814 9.2 %
Cable Franchise Fee 11 971,500 723,500 751,424 728,136 27,924 3.9 %
Cable Utility Tax - New 2017 12 1,000,000 750,000 527,616 - (222,384)(29.7)%
Cable Franchise Fee - Capital 66,200 49,650 50,038 49,877 388 0.8 %
Telephone Tax 9-10 1,451,800 1,111,500 1,055,709 1,144,823 (55,791)(5.0)%
Garbage Tax (external)9-10 120,000 90,000 96,104 92,985 6,104 6.8 %
Leasehold Excise Tax 40,000 30,400 187,275 191,475 156,875 516.0 %
Gambling Excise Tax 300,300 225,200 251,094 403,771 25,894 11.5 %
Taxes sub-total 52,510,600$ 35,421,250$ 35,699,942$ 33,436,540$ 278,692$ 0.8 %
Business License Fees 12-13 222,100$ 114,300$ 125,142$ 106,657$ 10,842$ 9.5 %
Building Permits 14 1,575,000 1,179,100 1,063,045 1,432,215 (116,055)(9.8)%
Other Licenses & Permits 541,600 413,300 437,296 582,773 23,996 5.8 %
Intergovernmental (Grants, etc.)15 6,123,910 4,521,992 4,571,803 4,179,792 49,812 1.1 %
Charges for Services:16-18
General Government Services 16 60,700 47,700 58,880 61,991 11,180 23.4 %
Public Safety 16 875,700 660,875 719,522 453,345 58,647 8.9 %
Development Services Fees 17 1,007,600 711,700 705,323 794,082 (6,377)(0.9)%
Culture and Recreation 18 2,319,680 2,055,600 2,039,089 2,076,505 (16,511)(0.8)%
Fines and Penalties 19-20 876,100 671,500 670,078 696,072 (1,422)(0.2)%
Fees/Charges/Fines sub-total 13,602,390$ 10,376,067$ 10,390,180$ 10,383,431$ 14,113$ 0.1 %
Interest and Investment Earnings 20-21 69,000$ 46,600$ 161,285$ 81,161$ 114,685$ 246.1 %
Rents and Leases 20-21 715,300 576,300 720,531 645,327 144,231 25.0 %
Contributions and Donations 20-21 35,000 28,500 38,345 26,883 9,845 34.5 %
Other Miscellaneous 20-21 227,500 174,300 257,127 228,553 82,827 47.5 %
Transfers In 84,000 76,500 76,500 139,112 0 0.0 %
Insurance Recoveries - Capital & Operating 25,000 18,743 106,886 58,094 88,143 470.3 %
Other Revenues sub-total 1,155,800$ 920,943$ 1,360,674$ 1,179,131$ 439,731$ 47.7 %
Total Operating Revenues 67,268,790$ 46,718,259$ 47,450,796$ 44,999,102$ 732,537$ 1.6 %
Operating Expenditures
Council & Mayor 1,240,618$ 931,100$ 850,556$ 802,274$ 80,544$ 8.7 %
Administration 1,640,533 1,230,300 997,121 831,249 233,179 19.0 %
Community & Human Services 1,103,040 643,400 609,707 577,608 33,693 5.2 %
Municipal Court & Probation 4 2,502,954 689,966 537,946 1,892,377 152,020 22.0 %
Human Resources 1,409,871 1,041,300 973,575 930,960 67,725 6.5 %
Finance 1,500,893 1,176,800 1,103,843 898,832 72,957 6.2 %
City Attorney 2,279,653 1,675,000 1,478,386 1,410,070 196,614 11.7 %
Community Development 4,798,583 3,532,500 3,141,340 3,014,962 391,160 11.1 %
Jail - SCORE 3,953,150 2,964,863 2,846,154 3,014,605 118,709 4.0 %
Police 26,897,517 20,020,700 18,646,001 17,490,649 1,374,699 6.9 %
Public Works 3,547,418 2,700,300 2,135,901 2,262,105 564,399 20.9 %
Parks, Arts & Recreation 12,235,387 9,366,500 9,017,914 8,627,328 348,586 3.7 %
Streets 3,798,094 2,624,000 2,546,081 2,256,727 77,919 3.0 %
Non-Departmental 6,254,415 3,947,190 3,062,055 2,783,240 885,135 22.4 %
Total Operating Expenditures 73,162,126$ 52,543,918$ 47,946,581$ 46,792,985$ 4,597,337$ 8.7 %
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Page
Ref
3
Quarterly Financial Report Through Q3-2017 3
Executive Summary
This Executive Summary provides an overview of the City’s overall financial position for the
fiscal period ending September 30, 2017, reflecting financial data available as of October 13,
2017.
General Fund:
Through September 2017, General Fund revenues totaled $47.4 million compared to a budget
of $46.7 million, and were $733,000 (1.6%) higher than budget expectations. Some notable
variances to budget year-to-date include:
• Property tax collections through Q3-2017 totaled $11.5 million, which was 0.5% or
$60,000 above budget expectations and exceeded collections through Q3-2016 by
$1.6 million, or 15.7%. This year-over-year increase in property tax collections was
attributable to an increase in assessed valuation and the use of banked capacity.
[page 6]
• General Fund retail sales tax revenues totaled $11.1 million, and exceeded collections
through Q3-2016 by $84,000, or 0.8%. The primary area of significant increase in
sales activity compared to collections through Q3-2016 was in the automotive
category; this was offset by reductions in the services and manufacturing categories.
[pages 7-8]
• The other taxes category performed favorably through Q3-2017, with revenues totaling
$10.1 million compared to a budget of $10.0 million. Electric and natural gas revenues
collected through September exceeded budget by $150,000 and $81,000 respectively.
In addition, leasehold excise taxes collected were $157,000 above budget due to a
$146,000 tax receipt in May for the Emerald Downs property, which is tribally owned.
Through Q3-2017, Brokered Natural Gas revenues were $146,000 under budget. This
is primarily due to the fact that the main remitter of this revenue had a reduction in
sales of approximately 33% through Q3-2017 compared to the same period last year.
In addition, cable utility tax revenues were $222,000 below budget through the third
quarter, although this is just a timing issue where the Q3-2017 revenues associated
with the cable utility tax in the amount of $274,000 were not received until October
2017. [pages 9-12]
• Building permit revenue collected through Q3-2017 totaled $1.1 million compared to a
year-to-date budget of $1.2 million. The volume of building permits issued through Q3-
2017 totaled 565, which represents a 14.4% decline over the number of permits issued
during the same period last year. While building permit revenues collected in 2017
are indicative of continued growth in the City, fewer permits issued combined with a
30% decline in the average valuation of the projects for which permits have been
issued compared to valuations through Q3-2016. This is primarily due to the fact that
building permits issued in 2016 included numerous large scale commercial projects
such as the Promenade Apartment Project and permits for The Reserve project on A
street. [page 14]
• Public safety revenues collected through Q3-2017 totaled $720,000 compared to a
budget of $661,000. Revenues collected through the third quarter of 2017 were
$266,000 higher than what was collected through the third quarter 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]
4
Quarterly Financial Report Through Q3-2017 4
• Culture and recreation revenues collected year-to-date were $2.0 million, and were
slightly under budget expectations by $17,000, or 0.8%. Through Q3-2017, greens
fee revenues collected at the Golf Course were $89,000 less than budgeted, which
represents an 8.5% variance. The unfavorable variance in greens fee revenues was
partially offset by favorable variances in special events revenue, primarily due to
increased revenues collected for vendor fees, increased participant registration, and
the increased sales of wrist-bands (for use of inflatables and other attractions) at
multiple City events including AuburnFest, Petpalooza, and the 4th of July Festival.
[page 18]
• Rents and leases revenues ended the period $144,000, or 25.0% 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 its
inventory of parking spaces, some of which were rented on a 12-month term.
[page 20]
General Fund expenditures through the third quarter of 2017 totaled $47.9 million compared to
a year-to-date budget of $52.5 million, representing an 8.7% favorable variance. All of the
General Fund departments operated within their allocated budget through September 2017.
The year-to-date actuals for Municipal Court and Probation do not include the payment for
services provided by the King County District Court for municipal court services, which is
typically made annually in the third quarter of the year; the payment will be reflected in the Q4-
2017 Financial Report.
Year-to-date General Fund expenditures ended the period $1.2 million, or 2.5% higher than
expenditures through Q3-2016. The year-over-year expenditure increase was predominately
seen in salaries and benefits as well as increased costs related to interfund expenditures;
specifically for City fleet vehicles and IT costs.
$46.7 M
$52.5 M
$47.4 M
$47.9 M
$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0
Revenues
Expenditures
$ Millions
General Fund
Revenues vs. Expenditures Through Q3-2017 2017 YTD Actual
2017 YTD Budget
5
Quarterly Financial Report Through Q3-2017 5
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 Q3-
2017, Arterial Street Fund revenues totaled $5.4 million as compared to collections of $2.3
million through Q3-2016; expenditures totaled $5.9 million as compared to expenditures of $3.0
million through Q3-2016. [pages 24–25]
Local Street Fund revenues of $2.0 million exceeded budget expectations thus far this year by
$619,000, or 44.3%, due to higher than anticipated sales tax revenues from local construction
projects; last year’s collections through Q3 totaled $1.8 million. Expenditures were $538,000 as
compared with $1.1 million through Q3-2016. [pages 26–27]
Lastly, the Arterial Street Preservation Fund revenues totaled $2.3 million as compared to
$1.6 million through Q3-2016, while expenditures totaled $2.9 million versus $862,000 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 28–29]
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 Q3-2017, the Water Fund experienced operating income before depreciation of
$4.1 million compared to $3.5 million in Q3-2016. This increase 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 $1.7
million versus $1.6 million in Q3-2016. The Sewer-Metro Fund operating expenditures
exceeded revenues by $243,000 as compared to $235,000 in Q3-2016. 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 $635,000 higher than Q3-2016 and in
line with budget predictions. Lastly, the Stormwater Fund ended the quarter with operating
income before depreciation of $2.1 million compared to $2.0 million through Q3-2016. [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 third quarter of 2017 totaled $134.5
million, compared to $135.8 million at the end of the second quarter of 2017. [attachment]
6
Quarterly Financial Report Through Q3-2017 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 Q3-2017 totaled $11.5 million, which was 0.5% or $60,000
above budget expectations. Property tax collections through Q3-2017 exceeded amounts
collected through the same period last year by $1.6 million, or 15.7%. 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
$11.5
$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
7
Quarterly Financial Report Through Q3-2017 7
Sales tax collections through Q3-2017 totaled $12.9 million, of which $11.1 million was
distributed to the General Fund and $1.8 million was distributed to the Local Street Fund (SOS)
program.* Total sales tax revenue distributions to the General Fund through Q3-2017 exceeded
collections through Q3-2016 by $84,000, or 0.8%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred through Q3-2017 was $1,844,760. 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
$11.1
$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
8
Quarterly Financial Report Through Q3-2017 8
The following table breaks out the City’s base sales taxes, excluding Pierce County Parks Sales
Tax, Criminal Justice Sales Tax, and Annexation Credit Sales Tax, by major business sector.
Total sales tax revenue collected in Q3-2017 exceeded prior year collections by $278,000, or
2.2%. The business sectors showing the largest increase in General Fund revenues compared
to last year were the automotive and wholesale trade categories.
Sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103) for
local street repair and maintenance, totaled $1.8 million, which is $193,000 more than was
collected through Q3-2016 and is $604,000 higher than budget.
2016 2017
Component Group Actual Actual Amount
Construction 1,651,379$ 1,844,760$ 193,382$ 11.7 %
Manufacturing 602,662 523,810 (78,852)(13.1)%
Transportation & Warehousing 65,962 69,050 3,088 4.7 %
Wholesale Trade 930,697 985,731 55,033 5.9 %
Automotive 2,746,266 2,881,236 134,970 4.9 %
Retail Trade 3,636,892 3,651,905 15,013 0.4 %
Services 2,974,730 2,889,056 (85,674)(2.9)%
Miscellaneous 12,612 53,381 40,769 323.3 %
YTD Total 12,621,199$ 12,898,928$ 277,729$ 2.2 %
Comparison of Sales Tax Collections by SIC Group
Through September
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
9
Quarterly Financial Report Through Q3-2017 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 Q3-2017 totaled $7.8 million and exceeded year-to-date budget by $159,000,
or 2.1%. Some utilities, such as Water, have cyclical revenue streams due mainly to weather,
which results in cyclical receipts of the associated utility taxes.
$1.9 $1.8
$2.3 $2.3
$1.8
$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
$12.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsUtility Tax
2017 Budget
2017 YTD Actual
2016 Actual
10
Quarterly Financial Report Through Q3-2017 10
Favorable variances in electric and natural gas revenues offset lower collections in telephone
utility taxes and City utility taxes.
2016 2017 2017
Utility Tax Type YTD Actual YTD Budget YTD Actual Amount Amount
City Interfund Utility Taxes 2,901,188$ 2,906,800$ 2,884,928$ $ (16,260)(0.6)% $ (21,872)(0.8)%
Electric 2,733,513 2,700,700 2,850,764 117,251 4.3 %150,064 5.6 %
Natural Gas 833,093 879,400 960,214 127,120 15.3 %80,814 9.2 %
Telephone 1,144,823 1,111,500 1,055,709 (89,113) (7.8)%(55,791) (5.0)%
Solid Waste (external)92,985 90,000 96,104 3,119 3.4 %6,104 6.8 %
YTD Total 7,705,602$ 7,688,400$ 7,847,719$ $ 142,117 1.8 % $ 159,319 2.1 %
Through September 2017
Utility Tax by Type
2017 vs. 2016 Actual 2017 vs. Budget
Percentage Percentage
$9.2 $9.5 $10.0 $9.7 $10.0
$7.8
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
2012 2013 2014 2015 2016 2017 YTDMillionsUtility Tax Revenues
Actuals
11
Quarterly Financial Report Through Q3-2017 11
Cable Franchise Fees, which are collected quarterly, totaled $751,000 and exceeded budget
by $28,000, or 3.9%.
$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
$0.8
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2012 2013 2014 2015 2016 2017
YTDMillionsCable Franchise Fee
Actuals
12
Quarterly Financial Report Through Q3-2017 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
Q3-2017, this is just a timing issue whereas the revenues generated for July through September
2017 in the amount of $274,000 were collected in October 2017. Including the payment
received in October, the distributions totaled $801,000 and exceeded the budget expectation of
$750,000.
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 September 2017 totaled $125,000, compared to a
budget of $114,000. 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
13
Quarterly Financial Report Through Q3-2017 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
$125
$0
$50
$100
$150
$200
$250
$300
$350
2012 2013 2014 2015 2016 2017 YTDThousandsBusiness License Revenues
Actuals
14
Quarterly Financial Report Through Q3-2017 14
Building permit revenues collected through September totaled $1.1 million, compared to a year-
to-date budget of $1.2 million. Through Q3-2017, a total of 565 building permits were issued
compared to 660 building permits issued through Q3-2016.
Major projects contributing to the revenues this quarter include building permits for North
Auburn Logistics and the Holiday Inn Express, as well as numerous single family housing
permits – most notably in Canyon Creek and Calla Crest. Of the $349,000 in building permit
revenues collected in Q3-2017, 52% was attributable to commercial projects in the City and the
remaining 48% 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
$1.1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
2012 2013 2014 2015 2016 2017 YTDMillionsBuilding Permits
Actuals
15
Quarterly Financial Report Through Q3-2017 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 Q3-2017 totaled $4.6 million and were
$50,000, or 1.1% higher than budget. Favorable variances in Criminal Justice High Crime
revenues and Muckleshoot Casino services reimbursement are offset by the reduced Federal
grant revenues received year-to-date. Federal grant reimbursements to date are significantly
lower than budget expectations primarily due to delayed hiring of the Police Officers who are to
be partially funded by the Federal COPS (Community Oriented Policing Services) grant.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
Federal Grants 181,274$ 367,500$ 152,712$ $ (28,563)(15.8)% $ (214,788)(58.4)%
State Grants 120,966 140,300 143,220 22,254 18.4 %2,920 2.1 %
Interlocal Grants 28,973 65,000 74,136 45,163 0.0 %9,136 14.1 %
Muckleshoot Casino Services 496,524 490,667 627,570 131,046 26.4 %136,903 27.9 %
Intergovernmental Service 17,304 0 0 (17,304)N/A %0 N/A %
State Shared Revenues:
Streamlined Sales Tax 1,443,924 1,430,775 1,432,078 (11,846) (0.8)%1,303 0.1 %
Motor Vehicle Fuel Tax 823,044 901,300 844,363 21,318 2.6 %(56,937) (6.3)%
Criminal Justice - High Crime 142,628 192,000 338,764 196,137 N/A %146,764 76.4 %
Criminal Justice - Population 15,480 17,900 16,226 746 4.8 %(1,674) (9.3)%
Criminal Justice - Special Prog.56,494 59,600 58,940 2,446 4.3 %(660) (1.1)%
Marijuana Revenues 19,589 25,500 37,871 18,283 93.3 %12,371 48.5 %
State DUI 8,843 9,000 8,779 (64) (0.7)%(221) (2.5)%
Fire Insurance Tax 76,569 75,000 78,078 1,509 N/A %3,078 4.1 %
Liquor Excise 259,959 259,200 270,965 11,006 4.2 %11,765 4.5 %
Liquor Profit 488,220 488,250 488,101 (119) (0.0)%(149) (0.0)%
Total State Shared:3,334,750 3,458,525 3,574,166 239,416 7.2 %115,641 3.3 %
YTD Total 4,179,792$ 4,521,992$ 4,571,803$ 392,012$ 9.4 %49,812$ 1.1 %
Through September 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
$4.6
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
2012 2013 2014 2015 2016 2017 YTDMillionsIntergovernmental Revenues
(Grants, Entitlements & Services)
Actuals
16
Quarterly Financial Report Through Q3-2017 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 September 2017 totaled $3.5 million, which was $47,000, or 1.4% favorable to
budget.
General governmental revenues collected through September 2017 totaled $59,000, compared
to a budget of $48,000. This favorability to budget was mostly seen in revenues collected year-
to-date for passport services.
Public safety revenues consist of revenues generated for Police Officer extra duty security
services – where officers are contracted for and reimbursement is made by the hiring contractor
– as well as 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 Q3-2017 totaled $720,000 compared to a budget of $661,000. Revenues
collected through Q3-2017 were $266,000 higher than what was collected through Q3-2016
predominately due to additional contracted Police Officer extra duty security services compared
to the same period last year.
2016 2017 2017
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
General Government 61,991$ 47,700$ 58,880$ $ (3,111)(5.0)% $ 11,180 23.4 %
Public Safety 453,345 660,875 719,522 266,178 58.7 %58,647 8.9 %
Development Services 794,082 711,700 705,323 (88,759) (11.2)%(6,377) (0.9)%
Culture & Recreation 2,076,505 2,055,600 2,039,089 (37,416) (1.8)%(16,511) (0.8)%
YTD Total 3,385,923$ 3,475,875$ 3,522,815$ 136,892$ 4.0 % $ 46,940 1.4 %
Through September 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
$3.5
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
2012 2013 2014 2015 2016 2017 YTDMillionsCharges for Services
Actuals
17
Quarterly Financial Report Through Q3-2017 17
Development services fee collections, which primarily consist of plan check fees, totaled
$705,000 and ended the quarter $6,000, or 0.9%, under budget expectations. Plan check
revenues collected through Q3-2017 totaled $492,000 and compare to $587,000 collected the
same period last year. Plan check revenues collected in Q3-2017 were primarily from single
family housing plan reviews – most notably in the Calla Crest and Canyon Creek 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
Revenue decreased in
September due to a $49K
refund for Plan Check Fees
that were originally paid in
April 2017.
$1.2
$1.1 $1.1
$1.4
$1.0
$0.7
$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
18
Quarterly Financial Report Through Q3-2017 18
Culture and recreation revenues collected through Q3-2017 totaled $2.0 million and were
$17,000 (or 0.8%) 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.
Through Q3-2017, greens fee revenues collected at the Auburn Golf Course were $89,000, or
8.5% unfavorable to budget and were $77,000 less than the same period last year. The
reduction in green fee revenues was partially offset by favorable variances in special events
revenue, which were primarily due to increased revenues collected for vendor fees, increased
number of participant registrations, and the increased sales of wrist-bands (for use of inflatables
and other attractions) at multiple City events including AuburnFest, Petpalooza, and the 4th of
July Festival.
$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
$2.0
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
2012 2013 2014 2015 2016 2017
YTDMillionsCulture & Recreation Revenues
Actuals
19
Quarterly Financial Report Through Q3-2017 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 Q3-2017 totaled $670,000 and were
$1,000, or 0.2%, less than budget.
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Civil Penalties 21,179$ 9,200$ 6,306$ $ (14,872)(70.2)% $ (2,894)(31.5)%
Civil Infraction Penalties 358,003 359,700 359,912 1,909 0.5 %212 0.1 %
Redflex Photo Enforcement 13,550 0 7,793 (5,757) (42.5)%7,793 N/A %
Parking Infractions 100,942 110,500 112,412 11,470 11.4 %1,912 1.7 %
Criminal Traffic Misdemeanor 38,984 34,500 60,707 21,723 55.7 %26,207 76.0 %
Criminal Non-Traffic Fines 34,146 31,600 23,131 (11,015) (32.3)%(8,469) (26.8)%
Criminal Costs 46,044 32,800 37,501 (8,543) (18.6)%4,701 14.3 %
Non-Court Fines & Penalties 83,226 93,200 62,317 (20,909) (25.1)%(30,883) (33.1)%
YTD Total 696,072$ 671,500$ 670,078$ $ (25,994)(3.7)% $ (1,422)(0.2)%
Through September 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
20
Quarterly Financial Report Through Q3-2017 20
Miscellaneous revenues consist of investment earnings, income from facility rentals,
contributions & donations, and other income including the quarterly purchasing card (P-card)
rebate monies. Total revenues collected in this category through Q3-2017 totaled $1.2 million
and exceeded budget expectations by $352,000.
Interest and investment income exceeded year-to-date budget expectations by $115,000,
primarily due to the increase in the State Pool interest rate. This interest rate in Q3-2017
averaged 1.1%, which is substantially higher than it has been in the past several years.
Rents and leases revenue through September 2017 totaled $721,000 compared to prior year
actuals of $645,000. The majority of the year-over-year increase was seen in facility rentals and
parking permit revenues. Facility rental revenue realized a $44,000 year-over-year increase
due primarily to the opening of the new Community and Events Center in mid-2016. In addition,
because additional inventory of parking spaces were added in 2017, parking permit revenues
collected year-to-date through September 2017 increased by $20,000 compared to collections
through September 2016.
$1.6
$1.4
$1.2
$0.9 $0.9
$0.7
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
2012 2013 2014 2015 2016 2017
YTDMillionsFines & Penalties
Actuals
2016 2017 2017
Month YTD Actual YTD Budget YTD Actual Amount Amount
Interest & Investments 81,161$ 46,600$ 161,285$ 80,125$ 98.7 %114,685$ 246.1 %
Rents & Leases 645,327 576,300 720,531 75,204 11.7 %144,231 25.0 %
Contributions & Donations 26,883 28,500 38,345 11,462 42.6 %9,845 34.5 %
Other Miscellaneous Revenue 228,553 174,300 257,127 28,573 12.5 %82,827 47.5 %
YTD Total 981,925$ 825,700$ 1,177,288$ 195,364$ 19.9 %351,588$ 42.6 %
Miscellaneous Revenues by Type
Through September 2017
2017 vs. 2016 2017 vs. Budget
Percentage Percentage
21
Quarterly Financial Report Through Q3-2017 21
Through Q3-2017 other miscellaneous revenues exceeded budget expectations by $83,00
which was predominately due to revenues collected in the amount of $56,000 for code
violations, which are unbudgeted.
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 Q3-2017
totaled $2.7 million, and exceed budget expectations by $553,000. Real estate sales in the City
of Auburn in Q3-2017 represent the sale of both commercial properties and numerous single
family residences. The commercial sales include the sale of an automotive dealership, a hotel,
vacant land, as well as warehouse and industrial properties.
$0.8
$0.7
$1.0 $1.0
$1.2 $1.2
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
2012 2013 2014 2015 2016 2017 YTDMillionsMiscellaneous Revenues
Actuals
2016 2017 2017
Month Actual Budget Actual Amount Amount
Jan 339,594$ 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 360,857 294,200 330,707 (30,150) (8.4)%36,507 12.4 %
Aug 673,012 221,000 325,936 (347,076) (51.6)%104,936 47.5 %
Sep 338,340 234,800 309,422 (28,918) (8.5)%74,622 31.8 %
Oct 249,714 226,300 0 (249,714) (100.0)%(226,300) (100.0)%
Nov 321,895 230,200 0 (321,895) (100.0)%(230,200) (100.0)%
Dec 262,543 252,900 0 (262,543) (100.0)%(252,900) (100.0)%
YTD Total 3,451,191$ 2,100,600$ 2,653,374$ (797,817)$ (23.1)%552,774$ 26.3 %
Annual Total 4,285,344$ 2,810,000$
Real Estate Excise Tax Revenues
September 2017
Percentage
2017 vs. 2016 2017 vs. Budget
Percentage
22
Quarterly Financial Report Through Q3-2017 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
$2.7
$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
23
Quarterly Financial Report Through Q3-2017 23
Pet Licensing
Through the third quarter, 3,271 pet licenses were sold, resulting in $84,925 in revenue.
Through Q3-2016, 3,616 licenses were sold, resulting in $99,925 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
24
Quarterly Financial Report Through Q3-2017 24
Street Funds
This section provides a financial overview of the City’s three street funds for the quarter ending
September 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 September 30, 2017 there were 28 separate
street projects budgeted in this fund for 2017.
Through September 30, 2017, revenues collected totaled $5.4 million and compare to
collections of $2.3 million through Q3-2016. This variance is largely due to the timing of capital
expenditures and their subsequent reimbursement via federal grants. Total expenditures
through Q3-2017 were $5.9 million and compare to $3.0 million spent through the same period
last year. The increase from YTD 2016 to 2017 is based on increased construction activity as
budgeted multi-year projects move from the design phase to the construction phase, where
most expenditures occur.
Fund 102 - Arterial Street 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: September 2017 Budget Budget Actual Actual Amount
Revenues
Federal Grants 7,054,082$ 4,655,431$ 2,893,962$ 493,143$ (1,761,469)$ (37.8)%
State Grants 2,995,210 1,996,807 906,031 198,554 (1,090,776) (54.6)%
Motor Vehicle Fuel and Multimodal Taxes 583,000 430,790 428,672 432,411 (2,118) (0.5)%
Developer Contributions 809,221 547,814 222,575 188,781 (325,239) (59.4)%
Miscellaneous Revenue 466,191 310,794 - 64,862 (310,794) (100.0)%
Other Governmental Agencies - - - - -
Public Works Trust Fund Loans - - - - -
Operating Transfer In 3,420,622 2,356,637 977,326 943,207 (1,379,311) (58.5)%
Investment Income 2,600 2,150 7,419 5,478 5,270 245.2 %
Total Revenues 15,330,926$ 10,300,422$ 5,435,984$ 2,326,435$ (4,864,437)$ (47.2)%
Expenditures
Salary and Benefits 285,000$ 206,275$ 485,008$ 355,490$ (278,733)$ (135.1)%
Capital Outlay 15,658,112 10,068,040 4,999,122 2,216,277 5,068,918 50.3 %
Subtotal - Capital Project Expenditures 15,943,112 10,274,314 5,484,129 2,571,766 4,790,185 46.6 %
Services and Charges 285,000 195,017 149,753 187,898 45,265 23.2 %
Interfund Payments for Services 76,681 57,511 57,510 55,917 1 0.0 %
Debt Service Principal and Interest 209,511 209,511 209,511 210,205 0 0.0 %
Operating Transfer Out 15,046 10,419 6,605 - 3,814 36.6
Total Expenditures 16,529,350$ 10,746,773$ 5,907,508$ 3,025,786$ 4,839,265$ 45.0 %
Net Change in Fund Balance (1,198,424)$ (446,351)$ (471,523)$ (699,351)$ (25,172)$ 5.6 %
Beg. Fund Balance, January 2017 2,655,913$
Net Change in Fund Balance, September 2017 (471,523)
Ending Fund Balance, September 2017 2,184,390$
2017 Budgeted Ending Fund Balance 1,457,489$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
25
Quarterly Financial Report Through Q3-2017 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 Improvements is currently under construction.
• AWS Corridor Safety Improvements is currently under construction.
• Of the remaining projects in this fund: nine are in construction, two are partnership projects with other
entities that are delayed until 2018 due to the construction schedule of the other agencies, and one is a
grant-funded project that was delayed by Puget Sound Regional Council until 2019. These represent
approximately $4.9M of the remaining projects.
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 102 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE
Budget
$15.9M
2016 YTD Actual
$2.6M
2017 YTD Actual
$5.5M
Name Annual Budget YTD Actual Remaining
W. Main St Multimodal Corridor & ITS Imp $1.6M $1.3M $0.2M
S. 277th St Corridor Improvements $4.3M $1.5M $2.8M
AWS Corridor Safety Imp. -- Muckleshoot Pl.$3.5M $1.6M $1.8M
All Other Projects (25 Others Budgeted)$6.6M $1.0M $5.6M
Total $15.9M $5.5M $10.5M
Fund 102 - Arterial Street
Capital Projects Status
26
Quarterly Financial Report Through Q3-2017 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 Q3-2017 the revenues in this fund
totaled $2.0 million, exceeding budget expectations by $619,000 due to higher than anticipated
sales tax revenues from local construction projects. This compares to collections of $1.8 million
through Q3-2016. Total expenditures through Q3-2017 were $538,000 and compare to
expenditures of $1.1M through Q3-2016. Historically, well over half of this fund’s annual
expenditures occur in the final four months of each year due to the weather sensitivity of
pavement construction (this work needs to be done primarily in the summer and early fall).
Highlighted in the table below and the following graph are the subset of the fund’s total
expenditures related to capital projects.
Fund 103 - Local Street Fund 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: September 2017 Budget Budget Actual Actual Amount
Revenues
Sales Tax on Construction 1,750,000$ 1,241,003$ 1,844,760$ 1,651,379$ 603,757$ 48.7 %
Operating Transfer In 150,000 150,000 150,000$ 150,000 - 0.0 %
Interest Earnings 9,100 6,685 22,129$ 8,501 15,444 231.0 %
Total Revenues 1,909,100$ 1,397,688$ 2,016,889$ 1,809,880$ 619,202$ 44.3 %
Expenditures
Salary and Benefits 148,568$ 105,364$ 92,810$ 89,919$ 12,553$ 11.9 %
Capital Project Expenditures 2,933,969 1,471,405 410,911 953,978 1,060,494 72.1 %
Services and Charges 25,680 17,169 19,791 532 (2,622) (15.3)%
Interfund Payments for Services 11,925 8,944 8,937 9,180 7 0.1 %
Operating Transfer Out 11,051 7,423 5,766 - 1,657 22.3
Total Expenditures 3,131,193$ 1,610,304$ 538,216$ 1,053,610$ 1,072,089$ 66.6 %
Net Change in Fund Balance (1,222,093)$ (212,617)$ 1,478,674$ 756,270$ 1,691,290$ (795.5)%
Beg. Fund Balance, January 2017 2,424,727$
Net Change in Fund Balance, September 2017 1,478,674
Ending Fund Balance, September 2017 3,903,401$
2017 Budgeted Ending Fund Balance 1,202,634$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
27
Quarterly Financial Report Through Q3-2017 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
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 103 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE Budget
$2.9M
2016 YTD Actual
$954K
2017 YTD Actual
$411K
Name Annual Budget YTD Actual Remaining
2016 Local Street Pavement Reconst.$0.1M $0.1M $0.0M
2017 Local St. Reconst. & Preservation $2.9M $0.3M $2.5M
Total $2.9M $0.4M $2.5M
Fund 103 - Local Street
Capital Projects Status
28
Quarterly Financial Report Through Q3-2017 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 Q3-2017 revenues totaled
$2.3 million and compare to collections of $1.6 million through Q3-2016.
Total expenditures through Q3-2017 were $2.9M, which compares to expenditures of $862,000
through Q3-2016. This increase is due to projects carried forward from the prior year which are
under construction currently. Historically, the majority of this fund’s expenditures occur in the
second half of each year due to the weather sensitivity of pavement construction (this work
needs to be done primarily in the summer and early fall). Highlighted in the table below and the
following graph are the subset of the fund’s total expenditures related to capital projects.
Fund 105 - Arterial Street Preservation 2016
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: September 2017 Budget Budget Actual Actual Amount
Revenues
City Utility Tax 632,300$ 467,079$ 480,821$ 483,531$ 13,743$ 2.9 %
Electric Utility Tax 712,000 553,018 570,153 546,703 17,134 3.1 %
Natural Gas Utility Tax 200,200 177,665 192,043 166,619 14,378 8.1 %
Cable TV Tax 194,300 144,671 156,731 147,046 12,060 8.3 %
Telephone Utility Tax 290,400 222,326 211,142 228,965 (11,184) (5.0)%
Garbage Utility Tax (External Haulers)19,400 14,550 16,017 15,498 1,467 10.1 %
Grants 2,354,398 1,069,426 508,325 843 (561,100) (52.5)%
Developer Mitigation Fees - - - - -
Operating Transfer In 431,750 312,833 131,750 30,932 (181,083) (57.9)%
Interest Earnings 4,900 3,675 20,536 6,673 16,861 458.8 %
Total Revenues 4,839,648$ 2,965,243$ 2,287,518$ 1,626,809$ (677,725)$ (22.9)%
Expenditures
Salary and Benefits 368,000$ 251,650$ 301,737$ 206,327$ (50,087)$ (19.9)%
Capital Outlay 7,071,019 4,457,460 2,626,020 448,274 1,831,440 41.1 %
Subtotal - Capital Project Expenditures 7,439,019 4,709,110 2,927,757 654,601 1,781,352 37.8 %
Supplies - - - - -
Services and Charges - - - 37,525 -
Operating Transfer Out 56,535 37,690 14,141 170,276 23,549 62.5
Total Expenditures 7,495,554$ 4,746,800$ 2,941,899$ 862,402$ 1,804,901$ 38.0 %
Net Change in Fund Balance (2,655,906)$ (1,781,557)$ (654,380)$ 764,407$ 1,127,176$ (63.3)%
Beg. Fund Balance, January 2017 3,269,631$
Net Change in Fund Balance, September 2017 (654,380)
Ending Fund Balance, September 2017 2,615,251$
2017 Budgeted Ending Fund Balance 613,725$
2017 2017 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
29
Quarterly Financial Report Through Q3-2017 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 FY 2018. This revision was part
of a region wide effort to address federal grant funding restrictions for FY 2017, 2018, 2019 and 2020, and
means that funds cannot be expended until 2018.
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 105 -Capital Project Expenditures
2017 YTD Budget
2017 YTD Actual
2016 YTD Actual
2017 YE Budget
$7.4M
2016 YTD Actual
$655K
2017 YTD Actual
$2.9M
Name Annual Budget YTD Actual Remaining
15th St NE/NW Preservation $1.5M $0.0M $1.5M
Auburn Way North Preservation $1.7M $1.5M $0.2M
B Street NW Reconstruction $2.7M $0.4M $2.3M
All Other Projects (4 Others Budgeted)$1.4M $1.0M $0.5M
Total $7.4M $2.9M $4.5M
Capital Projects Status
Fund 105 - Arterial Street Preservation
30
Quarterly Financial Report Through Q3-2017 30
The Mitigation Fees Fund is a Special Revenue Fund funded from revenue from new
development, which is assessed at the time applications are received for development activity.
These funds are used to mitigate costs associated with City growth. Through Q3-2017,
revenues were above budget expectations, at 130.5% of the annual budgeted amount. Projects
contributing substantially to these revenues include North Auburn Logistics and Holiday Inn
Express. Expenditures were below budget due to the timing of capital projects funded by these
revenues, which historically occur during the second half of the year when conditions are more
favorable for construction.
Fund 124 - Mitigation Fees
Summary of Sources and Uses
Report Period Through:Ending Ending
September 2017 Fund Balance Fund Balance
Transportation Impact Fees 1,630,661$ 912,523$ 5,872,433$ 800,000$ 3,264,472$ 2,689,823$
Transportation Migitation Fees 67,877 - 332,154 - 30,000 234,277
Fire Impact Fees 172,484 - 472,295 100,000 50,000 349,811
Fire Mitigation Fees - - 81 - - 81
Parks Impact Fees 549,576 107,216 5,248,793 600,000 612,000 4,794,434
Parks Mitigation Fees - - 331,327 - - 331,327
School Impact Admin Fees 7,640 - 54,560 12,000 - 58,920
Wetland Mitigation Fees - - 68,835 - 31,570 37,265
Interest and Investment Income 77,421 - 77,421 8,200 - 8,200
Fees in Lieu of Improvements - - 122,525 - - 122,525
Operating Transfers - - - 400,000 - 400,000
Total 2,505,659$ 1,019,739$ 12,580,424$ 1,920,200$ 3,988,042$ 9,026,663$
Beginning Fund Balance, January 2017 11,094,505$
Net Change in Fund Balance, September 2017 1,485,919
Ending Fund Balance, September 2017 12,580,424$
2017 Budgeted Ending Fund Balance 9,026,663$
YTD ACTUALS BUDGET
Revenues Expenditures Revenues Expenditures
31
Quarterly Financial Report Through Q3-2017 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.
Working capital was moved from the operating funds to the capital funds along with other
beginning fund balance adjustments. System development revenues previously credited to the
operating funds are now directed to the corresponding capital funds.
Through Q3-2017, the Water Utility had operating income before depreciation of $4.1 million as
compared with $3.5 million through Q3-2016. Revenues ended the quarter slightly ahead of
budget expectations. 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. Regional
water purchases in 2017 have been minimal compared to the prior year.
Water sales by volume through Q3-2017 totaled 2.4 million hundred cubic feet (ccf), compared
to 2.7 million ccf in 2016, representing a 9.71% 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; last year, sales to
Water District #111 represented 11.3% of water sales by volume.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CCFThousandsWater Revenues vs Water Sold
2017 vs 2016
2016 Water Sales ($)
2017 Water Sales ($)
2016 Water Sold (ccf)
2017 Water Sold (ccf)
32
Quarterly Financial Report Through Q3-2017 32
The Sewer Utility finished Q3-2017 with operating income before depreciation of $1.7 million as
compared to operating income of $1.6 million through Q3-2016 due primarily to higher service
revenues in 2017.
The Sewer-Metro Utility ended the third quarter with operating income before depreciation of
$243,000, as compared with $235,000 in Q3-2016. 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, the Sewer-Metro Utility 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 positive operating income, consistent with prior years.
The Stormwater Utility ended Q3-2017 with operating income before depreciation of $2.1
million, compared with $2.0 million through Q3-2016. The difference is largely due to higher
service revenues in 2017.
The Cemetery Fund ended Q3-2017 with an operating income of $120,000 as compared with
an operating income of $168,000 in through Q3-2016. This variance is mainly due to lower
revenue from lot sales and markers, both of which already exceed annual budgeted amounts,
but are low compared to the exceptional numbers in the prior year. Year-to-date revenues
ended the quarter ahead of budget predictions by approximately $70,000 or 6.2%.
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecThousandsCEMETERY
2017 YTD Budgeted
Revenue
2017 YTD Actual
Revenue
2016 YTD Actual
Revenue
2017 YTD Actual
Expenses
Cumulative Revenues & Expenditures
2017 Budget vs. Actual
33
Quarterly Financial Report Through Q3-2017 33
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2017. As a result, the expenditure
balance will gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
34
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 128,655,713$ Various 1.13%
KeyBank Money Market Various 4,610,004 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 134,500,480$ 1.093%
Investment Mix % of Total
State Investment Pool 95.7%Current 6-month treasury rate 1.17%
KeyBank Money Market 3.4%Current State Pool rate 1.13%
US Treasury 0.0%KeyBank Money Market 0.02%
FNMA 0.7%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
September 30, 2017
Summary
35
SALES TAX SUMMARY
SEPTEMBER 2017 SALES TAX DISTRIBUTIONS (FOR JULY 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-Jul '16)(Nov '16-Jul '17)% Diff NAICS AUTOMOTIVE (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff
236 Construction of Buildings 1,139,466 798,884 1,049,044 31.3%441 Motor Vehicle and Parts Dealer 3,409,019 2,563,887 2,686,816 4.8%
237 Heavy and Civil Construction 309,344 229,621 138,807 -39.5%447 Gasoline Stations 250,478 182,379 194,420 6.6%
238 Specialty Trade Contractors 843,470 622,874 656,909 5.5%TOTAL AUTOMOTIVE 3,659,497$ 2,746,266$ 2,881,236$ 4.9%
TOTAL CONSTRUCTION 2,292,280$ 1,651,379$ 1,844,760$ 11.7%Overall Change from Previous Year 134,970$
Overall Change from Previous Year 193,382$
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-Jul '16)(Nov '16-Jul '17)% Diff
NAICS MANUFACTURING (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff 442 Furniture and Home Furnishings 185,234 135,870 c 148,394 9.2%
311 Food Manufacturing 3,278 2,485 3,763 51.4%443 Electronics and Appliances 220,553 175,342 152,928 -12.8%
312 Beverage and Tobacco Products 9,601 7,153 5,000 -30.1%444 Building Material and Garden 579,076 434,761 432,287 -0.6%
313 Textile Mills 415 219 134 -38.9%445 Food and Beverage Stores 397,177 298,973 a 277,210 -7.3%
314 Textile Product Mills 3,554 2,157 1,129 -47.6%446 Health and Personal Care Store 284,191 202,426 278,053 37.4%
315 Apparel Manufacturing 155 146 147 1.2%448 Clothing and Accessories 1,136,431 835,833 823,174 d -1.5%
316 Leather and Allied Products 38 32 31 -3.2%451 Sporting Goods, Hobby, Books 237,555 189,123 147,826 -21.8%
321 Wood Product Manufacturing 58,391 45,860 12,359 -73.1%452 General Merchandise Stores 1,017,905 770,897 760,849 -1.3%
322 Paper Manufacturing 8,047 5,475 11,034 101.6%453 Miscellaneous Store Retailers 473,398 356,739 351,082 -1.6%
323 Printing and Related Support 52,610 40,523 41,083 1.4%454 Nonstore Retailers 321,071 236,928 280,101 18.2%
324 Petroleum and Coal Products 2,145 1,902 777 -59.2%TOTAL RETAIL TRADE 4,852,592$ 3,636,892$ 3,651,905$ 0.4%
325 Chemical Manufacturing 10,183 6,034 12,473 106.7%Overall Change from Previous Year 15,013$
326 Plastics and Rubber Products 8,168 6,439 6,468 0.4%
327 Nonmetallic Mineral Products 17,429 12,750 13,785 8.1%
331 Primary Metal Manufacturing 442 295 583 97.7%2016 Annual Total 2016 YTD 2017 YTD YTD
332 Fabricated Metal Product Manuf 29,409 23,415 22,676 -3.2%NAICS SERVICES (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff
333 Machinery Manufacturing 16,461 12,686 14,409 13.6%51*Information 630,158 461,338 498,272 8.0%
334 Computer and Electronic Product 10,780 8,508 16,958 99.3%52*Finance and Insurance 110,728 83,165 88,190 6.0%
335 Electric Equipment, Appliances 445 350 873 149.1%53*Real Estate, Rental, Leasing 358,628 269,926 270,980 0.4%
336 Transportation Equipment Man 471,441 381,562 322,157 -15.6%541 Professional, Scientific, Tech 237,656 175,612 176,597 0.6%
337 Furniture and Related Products 18,661 13,358 17,001 27.3%551 Company Management 330 307 12 -96.2%
339 Miscellaneous Manufacturing 39,437 31,315 20,969 -33.0%56*Admin. Supp., Remed Svcs 328,453 256,106 206,016 -19.6%
TOTAL MANUFACTURING 761,091$ 602,662$ 523,810$ -13.1%611 Educational Services 50,026 36,214 36,688 1.3%
Overall Change from Previous Year (78,852)$ 62*Health Care Social Assistance 91,643 75,015 57,945 -22.8%
71*Arts and Entertainment 156,301 133,281 80,275 -39.8%
72*Accommodation and Food Svcs 1,217,734 895,831 940,434 5.0%
2016 Annual Total 2016 YTD 2017 YTD YTD 81*Other Services 646,579 519,028 407,786 -21.4%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff 92*Public Administration 141,806 112,614 125,861 11.8%
481 Air Transportation 1 1 2 61.8%TOTAL SERVICES 3,970,042$ 3,018,436$ 2,889,056$ -4.3%
482 Rail Transportation 24,331 9,679 19,425 100.7%Overall Change from Previous Year (129,380)$
484 Truck Transportation 7,067 2,756 2,669 -3.2%
485 Transit and Ground Passengers 114 67 -3,390 -5131.0%
488 Transportation Support 52,828 41,861 39,746 -5.1%2016 Annual Total 2016 YTD 2017 YTD YTD
491 Postal Service 274 196 209 6.8%NAICS MISCELLANEOUS (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff
492 Couriers and Messengers 301 192 1,125 485.4%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 14,523 11,210 9,265 -17.4%111-115 Agriculture, Forestry, Fishing 5,534 4,277 5,236 22.4%
TOTAL TRANSPORTATION 99,439$ 65,962$ 69,050$ 4.7%211-221 Mining & Utilities 29,410 21,424 19,077 -11.0%
Overall Change from Previous Year 3,088$ 999 Unclassifiable Establishments 32,161 -10,098 b 29,067 -387.9%
TOTAL SERVICES 67,105$ 15,603$ 53,381$ 242.1%
Overall Change from Previous Year 37,778$
2016 Annual Total 2016 YTD 2017 YTD YTD
NAICS WHOLESALE TRADE (Nov '15-Oct '16)(Nov '15-Jul '16)(Nov '16-Jul '17)% Diff
423 Wholesale Trade, Durable Goods 981,820 718,538 782,910 9.0%GRAND TOTAL 16,967,023$ 12,667,897$ 12,898,928$
424 Wholesale Trade, Nondurable 281,166 210,485 198,873 -5.5%Overall Change from Previous Year 231,032$ 1.8%
425 Wholesale Electronic Markets 1,991 1,675 3,948 135.8%
TOTAL WHOLESALE 1,264,976$ 930,697$ 985,731$ 5.9%Total September 2017 Sales Tax Distributions 1,444,240$
Overall Change from Previous Year 55,033$ Dollar Increase from September 2016 24,858$
Percent Increase from September 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: $10,572).September 2016 12,667,897 11,248,515 1,419,382$
b. WA State Dept of Revenue audit adjustment to sales tax returns for period of April 2016 (adjustment: - $52,898).September 2015 12,445,109 10,987,667 1,457,442$
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).
09/20/17
Prepared by Auburn Finance Department
1.8%
36
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 10,712,173 (4,018,338) 8,102,441 6,469,834 (1,632,607) 17,237,490 13,189,418 (4,048,072) 9,242,676 7,324,691 (1,917,985)
Grants - - - - - -
Interest Earnings 10,000 59,826 49,826 20,000 22,545 2,545 1,000 6,952 5,952 15,000 16,814 1,814
Rents, Leases, Concessions, & Other 212,939 131,271 (81,668) 72,849 37,754 (35,095) - - - 60,951 46,130 (14,821)
TOTAL OPERATING REVENUES 14,953,450 10,903,270 (4,050,180) 8,195,290 6,530,133 (1,665,157) 17,238,490 13,196,370 (4,042,120) 9,318,627 7,387,636 (1,930,992)
OPERATING EXPENSES
Salaries & Wages 2,688,501 1,984,337 704,164 1,742,176 1,299,748 442,428 - - - 2,500,996 1,928,060 572,936
Benefits 1,314,301 926,370 387,931 842,110 598,970 243,140 - - - 1,233,452 903,755 329,697
Supplies 334,444 179,562 154,882 136,750 65,243 71,507 - - - 94,750 42,975 51,775
Other Service Charges 5,096,580 2,148,796 2,947,784 2,932,890 1,905,473 1,027,417 - - - 1,778,290 1,070,192 708,098
Intergovernmental Services (Less Transfers Out)9,500 3,053 6,447 83,000 47,710 35,290
Waste Management Payments
Sewer Metro Services 17,294,700 12,952,742 4,341,958
(*) Debt Service Interest 1,345,282 464,988 880,294 276,483 144,909 131,574 - - - 361,418 180,709 180,709
Interfund Loan Repayment - - -
Net Change Restricted Assets
Interfund Operating Rentals & Supplies 1,422,716 1,067,112 355,604 1,039,865 781,707 258,158 - - - 1,441,066 1,082,503 358,563
TOTAL OPERATING EXPENSES 12,201,824 6,771,165 5,430,659 6,979,774 4,799,102 2,180,672 17,294,700 12,952,742 4,341,958 7,492,972 5,255,904 2,237,068
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION 2,751,626 4,132,105 1,380,479 1,215,516 1,731,031 515,515 (56,210) 243,627 299,837 1,825,655 2,131,732 306,077
NON-OPERATING REVENUES
Operating Transfers-in
NON-OPERATING EXPENSES
Transfer to Capital Subfund 2,500,000 2,500,000 - 1,000,000 800,000 200,000 1,400,000 300,000 1,100,000
Other Operating Transfers-out 331,166 78,439 252,727 393,832 53,793 340,039 500,312 151,837 348,475
(*) Debt Service Principal 1,799,827 624,107 1,175,720 541,127 288,262 252,865 413,162 - 413,162
Net Change in Restricted Net Assets - 940,082 940,082 - 132,628 132,628 - 988,853 988,853
Interfund Loan Repayment
BEGINNING WORKING CAPITAL - January 1, 2017 7,977,666 7,977,666 - 2,810,410 2,810,410 - 2,672,022 2,672,022 - 2,005,792 2,005,792 -
ENDING WORKING CAPITAL - September 30, 2017 6,098,299 7,967,143 1,868,844 2,090,967 3,266,759 1,175,792 2,615,812 2,915,649 299,837 1,517,973 2,696,834 1,178,861
NET CHANGE IN WORKING CAPITAL (see Note)(1,879,367) (10,523) 1,868,844 (719,443) 456,349 1,175,792 (56,210) 243,627 299,837 (487,819) 691,042 1,178,861
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue - 15,560 15,560 - 83,470 83,470 - 86,224 86,224
Grants 175,000 - (175,000) - - -
Contributions - - - - - - -
Other Non-Operating Revenue - - - - - - - - -
Increase In Contributions - System Development 1,000,000 443,413 (556,587) 500,000 403,421 (96,579) 500,000 558,465 58,465
Interfund Revenues - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - -
Proceeds of Debt Activity 5,402,159 70,798 (5,331,361) - - - - - -
Transfers In from Operating Sub-Fund 2,500,000 2,500,000 - 1,000,000 800,000 (200,000) 1,400,000 300,000 (1,100,000)
Transfer In from Other Funds 200,000 - (200,000) - - - - -
Other Sources - - - - 22,500 22,500 - - -
TOTAL CAPITAL REVENUES 9,277,159 3,029,771 (6,247,388) 1,500,000 1,309,391 (190,609) 1,900,000 944,688 (955,312)
CAPITAL EXPENSES
Other Non-Operating Expense - (572,557) 572,557 - - - - (800,501) 800,501
Increase In Fixed Assets - Salaries 382,143 130,784 251,359 86,429 46,707 39,722 152,143 123,928 28,215
Increase In Fixed Assets - Benefits 152,857 58,281 94,576 34,571 21,888 12,683 60,857 55,036 5,821
Increase In Fixed Assets - Services - 5,641 (5,641) - 2,860 (2,860) - - -
Increase In Fixed Assets - Site Improvements - 35,511 (35,511) - - - - -
Increase In Fixed Assets - Equipment 20,000 - 20,000 20,000 - 20,000 20,000 - 20,000
Increase In Fixed Assets - Construction 10,524,977 3,660,191 6,864,786 2,666,218 817,047 1,849,171 4,229,504 1,453,531 2,775,973
Increase In Fixed Assets - Other - - - 7,454 (7,454)
Operating Transfers Out 50,000 50,000 - 50,000 50,000 - 156,000 156,000 -
TOTAL CAPITAL EXPENSES 11,129,977 3,367,851 7,762,126 2,857,218 938,502 1,918,716 4,618,504 995,448 3,623,056
BEGINNING WORKING CAPITAL - January 1, 2017 1,936,373 1,936,373 - 12,710,295 12,710,295 - 13,379,700 13,379,700 -
83,555 1,598,293 1,514,738 11,353,077 13,081,184 1,728,107 10,661,196 13,328,940 2,667,744
NET CHANGE IN WORKING CAPITAL (see Note)(1,852,818) (338,080) 1,514,738 (1,357,218) 370,889 1,728,107 (2,718,504) (50,760) 2,667,744
Total Change in Working Capital (3,732,185) (348,604) 3,383,581 (2,076,661) 827,238 2,903,899 (56,210) 243,627 299,837 (3,206,323) 640,283 3,846,606
OPERATING & CAPITAL FUNDS
WATER
ENTERPRISE FUNDS
SEWER SEWER METRO STORMCash Basis through September 2017
(*) Debt service interest as shown represents actual cash outlay. Debt service principal represents actual expenditures; payments will be made as scheduled in December 2017.
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - September 30, 2017
11/20/2017 11:32 AM
37
OPERATING FUND:
OPERATING REVENUES
Charges For Service
Grants
Interest Earnings
Rents, Leases, Concessions, & Other
TOTAL OPERATING REVENUES
OPERATING EXPENSES
Salaries & Wages
Benefits
Supplies
Other Service Charges
Intergovernmental Services (Less Transfers Out)
Waste Management Payments
Sewer Metro Services
(*) Debt Service Interest
Interfund Loan Repayment
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION
NON-OPERATING REVENUES
Operating Transfers-in
NON-OPERATING EXPENSES
Transfer to Capital Subfund
Other Operating Transfers-out
(*) Debt Service Principal
Net Change in Restricted Net Assets
Interfund Loan Repayment
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - September 30, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Grants
Contributions
Other Non-Operating Revenue
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
OPERATING & CAPITAL FUNDS
Cash Basis through September 2017
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - September 30, 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 11,175,901 (3,640,299) 826,800 650,430 (176,370) 927,500 949,763 22,263 - - -
87,300 25,120 (62,180) - - - - -
9,000 28,116 19,116 2,500 4,353 1,853 800 2,797 1,997 1,500 6,306 4,806
- 441 441 3,000 7,156 4,156 - - -
14,912,500 11,229,579 (3,682,921) 832,300 661,939 (170,361) 928,300 952,561 24,261 1,500 6,306 4,806
325,910 243,822 82,088 - - - 475,628 357,222 118,406 - - -
147,414 108,598 38,816 - - - 258,734 188,007 70,727 225,750 45,649 180,101
27,542 2,246 25,296 2,500 - 2,500 221,700 162,403 59,297 - - -
1,645,565 1,111,439 534,126 484,950 351,396 133,554 156,750 89,518 67,232 4,230 249,918 (245,688)
363,600 182,131 181,469 - - - - - - - - -
11,975,500 8,933,773 3,041,727
- - - 24,357 5,165 19,192 (0) - (0) - - -
- - - - -
111,587 83,691 27,896 1,400 1,053 347 47,833 35,874 11,959 - - -
14,597,118 10,665,698 3,931,420 513,207 357,614 155,593 1,160,645 833,024 327,621 229,980 295,567 (65,587)
315,382 563,880 248,498 319,093 304,325 (14,768) (232,345) 119,537 351,882 (228,480) (289,261) (60,781)
200,000 - (200,000) 670,715 503,036 (167,679)
- - - - - - 1,332 280 1,052
165,000 - 165,000 - - -
- (8,646) (8,646) - - -
39,942 29,893 10,049
4,411,853 4,411,853 - 236,649 236,649 - 293,829 293,829 - 1,385,685 1,385,685 -
4,727,235 4,975,733 248,498 350,800 519,727 168,927 260,152 413,086 152,934 1,827,920 1,599,461 (228,459)
315,382 563,880 248,498 114,151 283,078 168,927 (33,677) 119,257 152,934 442,235 213,776 (228,459)
- 2,338 2,338 - 1,646 1,646
17,167 529 (16,638) - - -
- - - - - -
- - - - - -
- - - - - -
310,900 3,746 (307,154) - - -
- - - - - -
- - - - - -
275,000 274,937 (63)
- - - - - -
603,067 281,551 (321,516) - 1,646 1,646
- - - - - -
21,429 14 21,415 - - -
8,571 7 8,564 - - -
- - - - - -
- - - -
- -
729,034 295,434 433,600 - - -
- -
- - - - - -
759,034 295,455 463,579 - - -
360,602 360,602 - 256,633 256,633 -
204,635 346,698 142,063 256,633 258,279 1,646
(155,967) (13,904) 142,063 - 1,646 1,646
315,382 563,880 (41,816) 269,174 310,990 (33,677) 120,903 154,580 442,235 213,776 (228,459)
Note: Working capital balance only includes eight Waste
Management payments due to the timing of September's
payment ($1,045,832), which will be made in October.
(*) Debt service interest as shown represents actual cash outlay. Debt service principal represents actual expenditures;
payments will be made as scheduled in December 2017.
ENTERPRISE FUNDS
SOLID WASTE AIRPORT CEMETERY
INTERNAL SERVICE FUNDS
INSURANCE
see Note
11/20/2017 11:32 AM
38
OPERATING FUND:
OPERATING REVENUES
Charges For Service
Grants
Interest Earnings
Rents, Leases, Concessions, & Other
TOTAL OPERATING REVENUES
OPERATING EXPENSES
Salaries & Wages
Benefits
Supplies
Other Service Charges
Intergovernmental Services (Less Transfers Out)
Waste Management Payments
Sewer Metro Services
(*) Debt Service Interest
Interfund Loan Repayment
Net Change Restricted Assets
Interfund Operating Rentals & Supplies
TOTAL OPERATING EXPENSES
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION
NON-OPERATING REVENUES
Operating Transfers-in
NON-OPERATING EXPENSES
Transfer to Capital Subfund
Other Operating Transfers-out
(*) Debt Service Principal
Net Change in Restricted Net Assets
Interfund Loan Repayment
BEGINNING WORKING CAPITAL - January 1, 2017
ENDING WORKING CAPITAL - September 30, 2017
NET CHANGE IN WORKING CAPITAL (see Note)
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue
Grants
Contributions
Other Non-Operating Revenue
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
OPERATING & CAPITAL FUNDS
Cash Basis through September 2017
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - September 30, 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
961,300 715,761 (245,539) 3,453,700 2,604,110 (849,590) 6,038,376 4,531,589 (1,506,787) 2,263,102 1,712,041 (551,061)
- - - - - -
2,600 8,517 5,917 8,800 13,913 5,113 5,000 8,895 3,895 - 18,746 18,746
93,000 6,522 (86,478) - 36,816 36,816 - - - - 131,903 131,903
1,056,900 730,800 (326,100) 3,462,500 2,654,839 (807,661) 6,043,376 4,540,485 (1,502,891) 2,263,102 1,862,690 (400,412)
76,324 54,803 21,521 655,000 466,872 188,128 1,822,981 1,366,905 456,076 681,943 433,138 248,805
364,638 80,108 284,530 358,001 251,504 106,497 817,418 586,672 230,746 349,650 219,917 129,733
- - - 150,220 87,406 62,814 508,250 446,205 62,045 1,074,000 559,441 514,559
492,915 196,706 296,209 1,818,387 1,101,649 716,738 2,882,325 2,029,817 852,508 427,580 265,014 162,566
- - - - - - - - - - - -
- - - - - - - - - 3,843 3,005 838
- - - -
- - - 140,784 105,588 35,196 191,031 143,262 47,769 231,152 173,646 57,506
933,877 331,617 602,260 3,122,392 2,013,019 1,109,373 6,222,005 4,572,860 1,649,145 2,768,168 1,654,160 1,114,008
123,023 399,183 276,160 340,108 641,819 301,711 (178,629) (32,375) 146,254 (505,066) 208,530 713,596
652,611 215,588 (437,023) 720,000 100,000 (620,000)
929,452 412,346 517,106 400 400 - - - -
- - -
- - - - (128,176) (128,176)
1,097,368 1,097,368 - 1,853,016 1,853,016 - 1,064,713 1,064,713 - 2,749,240 2,749,240 -
1,220,391 1,496,550 276,160 1,263,672 2,082,489 818,817 1,538,295 1,247,525 (290,770) 2,964,174 3,185,946 221,772
123,023 399,183 276,160 (589,344) 229,473 818,817 473,582 182,812 (290,770) 214,934 436,706 221,772
- 13,379 13,379 - 20,103 20,103
- - - - - -
- - - - - -
- - - - - -
- - - 1,703,631 1,277,721 (425,910)
- - - - - -
- - - - - -
- - - - - -
96,537 86,326 (10,211) 390,927 298,254 (92,673)
- - - - - -
96,537 99,704 3,167 2,094,558 1,596,078 (498,480)
- - - - - -
- 1,896 (1,896) - - -
- 697 (697) - - -
- - - - - -
- -
779,437 353,756 425,681 1,961,665 1,392,491 569,174
163,000 42,662 120,338 710,000 - 710,000
- -
55,900 55,900 - - - -
998,337 454,910 543,427 2,671,665 1,392,491 1,279,174
2,319,577 2,319,577 - 3,020,402 3,020,402 -
1,417,777 1,964,371 546,594 2,443,295 3,223,989 780,694
(901,800) (355,206) 546,594 (577,107) 203,587 780,694
123,023 399,183 276,160 (589,344) 229,473 818,817 (428,218) (172,394) 255,824 (362,173) 640,293 1,002,466
INTERNAL SERVICE FUNDS
WORKER'S COMPENSATION FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL
11/20/2017 11:32 AM
39
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Services 10,712,173$ 6,469,834$ -$ 7,324,691$ 11,175,901$ 46,155$ 949,763$ -$ -$ -$ -$ -$
Interfund Charges For Services - - - - - - - - 722,283 2,530,647 4,475,219 2,989,762
Sewer Metro Services Revenue - - 13,189,418 - - - - - - - - -
Rents, Leases, Concessions & Other - - - - - 604,275 - - - 73,463 56,370 -
TOTAL OPERATING REVENUES 10,712,173$ 6,469,834$ 13,189,418$ 7,324,691$ 11,175,901$ 650,430$ 949,763$ -$ 722,283$ 2,604,110$ 4,531,589$ 2,989,762$
OPERATING EXPENSES
Administration & Other 2,806,283$ 3,385,636$ -$ 2,604,766$ 1,303,315$ 47,826$ 246,262$ 295,567$ -$ -$ -$ 603,089$
Operations & Maintenance 3,499,895 1,271,417 12,952,742 2,477,883 8,316,551 304,622 586,762 - 331,617 2,013,019 4,572,860 1,048,067
Depreciation & Amortization 2,455,522 1,651,458 - 1,416,765 14,114 347,645 36,382 - - - 539,375 860,484
TOTAL OPERATING EXPENSES 8,761,699$ 6,308,511$ 12,952,742$ 6,499,415$ 9,633,981$ 700,094$ 869,406$ 295,567$ 331,617$ 2,013,019$ 5,112,235$ 2,511,640$
OPERATING INCOME (LOSS)1,950,474$ 161,324$ 236,676$ 825,276$ 1,541,921$ (49,664)$ 80,358$ (295,567)$ 390,665$ 591,091$ (580,646)$ 478,122$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 75,386$ 106,015$ 6,952$ 103,038$ 28,116$ 6,691$ 4,443$ 6,306$ 8,517$ 13,913$ 22,274$ 38,848$
Other Non-Operating Revenue 131,271 37,754 - 46,130 25,561 11,432 - - - 36,816 - 113,902
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - 18,001
Other Non-Operating Expense (73,170) (13,335) - - - (5,165) - - - - - (3,005)
TOTAL NON-OPERATING REVENUES & EXPENSES 133,487$ 130,434$ 6,952$ 149,168$ 53,677$ 12,958$ 4,443$ 6,306$ 8,517$ 50,729$ 22,274$ 167,747$
2,083,961$ 291,758$ 243,627$ 974,444$ 1,595,598$ (36,707)$ 84,801$ (289,261)$ 399,183$ 641,819$ (558,372)$ 645,869$
Contributions 443,413$ 403,421$ -$ 558,465$ -$ -$ -$ -$ -$ -$ -$ -$
Transfers In 2,500,000 800,000 - 300,000 - 274,937 - 503,036 - - 301,913 398,254
Transfers Out (2,628,439) (903,793) - (607,837) - - (280) - - (412,346) (56,300) -
TOTAL CONTRIBUTIONS & TRANSFERS 314,974$ 299,628$ -$ 250,628$ -$ 274,937$ (280)$ 503,036$ -$ (412,346)$ 245,613$ 398,254$
CHANGE IN FUND BALANCE 2,398,935$ 591,386$ 243,627$ 1,225,072$ 1,595,598$ 238,231$ 84,521$ 213,776$ 399,183$ 229,473$ (312,759)$ 1,044,123$
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 - September 30, 2017 78,150,641$ 82,510,606$ 2,915,649$ 65,235,725$ 5,841,294$ 9,752,346$ 1,458,931$ 1,599,461$ 1,463,710$ 1,759,797$ 3,978,592$ 11,964,537$
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 September 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
40