HomeMy WebLinkAboutQ1 2018 Financial Report
AGENDA BILL APPROVAL FORM
Agenda Subject: 1st Quarter 2018 Financial Report Date: July 18, 2018
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 March 2018 status report based on financial data available as of April 23, 2018 for the
period ending March 31, 2018 and sales tax information representing business activity that occurred
through January 2018.
Staff: Coleman
Meeting Date: July 23, 2018 Item Number:
Quarterly Financial Report Through Q1-2018
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 Q1-2018) Council& MayorAdministrativeServicesCommunity &Human ServicesMunicipal Court& ProbationHumanResourcesFinanceCity AttorneyCommunityDevelopmentJail - SCOREPolicePublic WorksParks, Arts& RecreationStreetsNon-Departmental$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
MillionsYTD
Budget
YTD
Actuals
(Favorable)
YTD
Actuals
(Unfavorable)
General Fund Expenditures by Department
(Through Q1-2018)
1
Quarterly Financial Report Through Q1-2018 2
General Fund 2017
Summary of Sources and Uses Annual YTD YTD YTD
Budget Budget Actual Actual Amount
Operating Revenues
Property Tax 6 21,281,000$ 901,700$ 701,388$ 846,551$ (200,312)(22.2)%
Sales Tax 7-8 14,893,500 3,723,300 4,060,293 3,760,985 336,993 9.1 %
Sales Tax - Pierce County Parks 77,250 18,900 25,077 23,691 6,177 32.7 %
Sales Tax - Annexation Credit 1,250,000 535,714 555,453 519,863 19,738 3.7 %
Criminal Justice Sales Tax 1,908,300 469,600 550,711 501,883 81,111 17.3 %
Brokered Natural Gas Tax 353,600 133,100 40,558 61,831 (92,542)(69.5)%
City Utilities Tax 9-10 3,991,000 892,300 889,631 889,876 (2,669)(0.3)%
Admissions Tax 317,000 54,100 96,945 87,024 42,845 79.2 %
Electric Tax 9-10 3,577,800 875,600 936,682 878,558 61,082 7.0 %
Natural Gas Tax 9-10 1,006,200 242,100 270,367 227,755 28,267 11.7 %
Cable Franchise Fee 11 986,100 247,500 253,732 253,341 6,232 2.5 %
Cable Utility Tax - New in 2017 12 1,000,000 250,000 266,594 - 16,594 6.6 %
Cable Franchise Fee - Capital 67,200 16,800 13,975 16,639 (2,825)(16.8)%
Telephone Tax 9-10 1,408,200 376,200 352,969 362,726 (23,231)(6.2)%
Garbage Tax (external)9-10 - - 32,961 31,394 32,961 N/A %
Leasehold Excise Tax 40,000 2,900 12,369 13,689 9,469 326.5 %
Gambling Excise Tax 303,180 75,900 76,612 99,649 712 0.9 %
Taxes sub-total 52,460,330$ 8,815,714$ 9,136,315$ 8,575,455$ 320,601$ 3.6 %
Business License Fees 12-13 223,200$ 94,800$ 180,415$ 91,337$ 85,615 90.3 %
Building Permits 14 1,653,750 285,200 268,673 313,482 (16,527)(5.8)%
Other Licenses & Permits 543,000 105,900 133,653 128,050 27,753 26.2 %
Intergovernmental (Grants, etc.)15 5,924,350 1,372,433 1,468,342 1,373,437 95,910 7.0 %
Charges for Services:16-18
General Government Services 16 61,300 19,100 22,144 20,865 3,044 15.9 %
Public Safety 16 666,800 155,225 218,947 234,782 63,722 41.1 %
Development Services Fees 17 1,019,100 236,700 152,822 201,340 (83,878)(35.4)%
Culture and Recreation 18 2,366,680 404,800 489,855 401,456 85,055 21.0 %
Fines and Penalties 19-20 885,300 229,700 243,919 217,273 14,219 6.2 %
Fees/Charges/Fines sub-total 13,343,480$ 2,903,858$ 3,178,770$ 2,982,022$ 274,912$ 9.5 %
Interest and Investment Earnings 20-21 68,000$ 11,100$ 74,666$ 35,929$ 63,566 572.7 %
Rents and Leases 20-21 736,100 159,700 265,221 217,707 105,521 66.1 %
Contributions and Donations 20-21 35,000 4,400 9,937 8,350 5,537 125.9 %
Other Miscellaneous 20-21 236,800 62,200 70,624 76,549 8,424 13.5 %
Transfers In 84,300 74,000 74,000 74,000 0 0.0 %
Insurance Recoveries - Capital & Operating 25,000 6,248 2,732 7,479 (3,515)(56.3)%
Other Revenues sub-total 1,185,200$ 317,648$ 497,180$ 420,014$ 179,533$ 56.5 %
Total Operating Revenues 66,989,010$ 12,037,219$ 12,812,266$ 11,977,491$ 775,046$ 6.4 %
Operating Expenditures
Council & Mayor 1,247,943$ 316,600$ 269,866$ 299,930$ 46,734$ 14.8 %
Administration 1,720,014 429,900 348,951 285,473 80,949 18.8 %
Community & Human Services 1,473,528 263,900 245,237 119,892 18,663 7.1 %
Municipal Court & Probation 2,644,145 230,914 154,422 143,633 76,492 33.1 %
Human Resources 1,315,663 330,500 307,068 331,369 23,432 7.1 %
Finance 1,544,931 376,100 348,534 345,821 27,566 7.3 %
City Attorney 2,364,650 570,500 537,643 477,199 32,857 5.8 %
Community Development 4,758,825 1,178,000 1,077,890 1,078,951 100,110 8.5 %
Jail - SCORE 4,099,465 1,024,866 999,418 948,718 25,449 2.5 %
Police 27,701,295 7,117,100 6,916,183 6,445,087 200,917 2.8 %
Public Works 3,715,032 870,300 830,878 662,348 39,422 4.5 %
Parks, Arts & Recreation 12,660,606 2,815,100 2,738,881 2,675,553 76,219 2.7 %
Streets 4,039,204 866,400 829,513 811,614 36,887 4.3 %
Non-Departmental 5,512,943 946,785 640,052 455,370 306,733 32.4 %
Total Operating Expenditures 74,798,244$ 17,336,965$ 16,244,533$ 15,080,961$ 1,092,432$ 6.3 %
Page
Ref
2018 2018 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
2
Quarterly Financial Report Through Q1-2018 3
Executive Summary
This Executive Summary provides an overview of the City’s overall financial position for the
fiscal period ending March 31, 2018, reflecting financial data available as of April 23, 2018.
General Fund:
Through March 2018, General Fund revenues totaled $12.8 million compared to a budget of
$12.0 million, and were $775,000 higher than revenues collected during Q1-2017. Some
notable variances to budget year-to-date include:
• Property tax collections through Q1-2018 totaled $701,000, which was $200,000
below budget expectations and $145,000 less than was collected through Q1-2017.
[page 6]
• General Fund retail sales tax revenues totaled $4.1 million, and exceeded budget by
9.1% or $337,000, and exceeded Q1-2017 collections by $299,000. The primary area
of significant increase in sales activity compared to Q1-2017 collections was seen in
the services category. [pages 7-8]
• The other taxes category performed favorably to budget in Q1-2018. Actual revenues
collected through Q1-2018 was $3.2 million, which was $77,000, or 2.4% favorable to
budget. Electric tax and admission tax revenues collected in Q1-2018 exceeded
budget by $61,000 and $43,000, respectively. These revenues were somewhat offset
by unfavorable variances in brokered natural gas tax revenues and telephone tax
revenues in the amount of $93,000 and $23,000, respectively. [pages 9-12]
• Building permit revenue collected in Q1-2018 totaled $269,000, compared to a budget
of $285,000. The number of building permits issued in Q1-2018 was 125, which
represents an 18% decline over the number of permits issued in Q1-2017. [page 14]
• Development services revenues collected in Q1-2018 were $84,000, or 35.4%,
unfavorable to budget. This variance was predominately due to plan check revenues
not meeting budget expectations. [page 17]
General Fund expenditures through the first quarter of 2018 totaled $16.2 million compared to a
budget of $17.3 million, representing a 6.3% favorable variance to budget. All departments
operated within their budget through Q1-2018.
Year-to-date General Fund expenditures ended the quarter $1.2 million, or 7.7% higher than
expenditures through Q1-2017. Salary and benefit costs increased by $830,000, or 9.3%,
compared to salary and benefit expenditures through Q1-2017. This year-over-year increase
was due primarily to an increase in Council approved FTEs (Full Time Equivalents) and
increased costs associated with healthcare benefits.
3
Quarterly Financial Report Through Q1-2018 4
Street Funds:
The City’s three street funds are special revenue funds wherein 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 the first
quarter of 2018, Arterial Street Fund revenues totaled $452,000 as compared to collections of
$153,000 in Q1-2017, while expenditures totaled $770,000 as compared to expenditures of $1.2
million spent during the same period last year. [pages 24–25]
Local Street Fund revenues of $786,000 exceed year-to-date budget expectations by
$236,000 or 42.9%, due to higher than anticipated sales tax revenues from local construction
projects; last year’s collections through the first quarter totaled $783,000. Expenditures were
$116,000 as compared with $87,000 in Q1-2017. [pages 26–27]
Lastly, the Arterial Street Preservation Fund revenues totaled $527,000 in Q1-2018 as
compared to $504,000 in Q1-2017, while expenditures totaled $166,000 versus $79,000 in Q1-
2017. 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]
$12.0 M
$17.3 M
$12.8 M
$16.2 M
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0
Revenues
Expenditures
$ Millions
General Fund
Revenues vs. Expenditures Through Q1-2018
2018 YTD Actual
2018 YTD Budget
4
Quarterly Financial Report Through Q1-2018 5
Enterprise Funds:
The City’s enterprise funds account for operations with revenues primarily provided from user
fees, charges or contracts for services.
Through March 31, 2018 the Water Fund experienced operating income before depreciation of
$1.2 million compared to $1.1 million during the same period last year. The Sewer Fund ended
the first quarter of 2018 with operating income before depreciation of $557,000 versus $441,000
in Q1-2017. The Stormwater Fund ended the quarter with operating income before
depreciation of $773,000 compared to $663,000 in Q1-2017. The Solid Waste Fund ended the
quarter with operating income of $1,250,000, compared to $1,259,000 for the same period in
2017. [pages 32–34]
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 had sufficient revenues to cover year-end expenditures. [page 35]
Investment Portfolio:
The City’s total cash and investments at the end of the first quarter 2018 totaled $132.4 million,
and compares to $133.8 million at the end of the 2017. [attachment]
5
Quarterly Financial Report Through Q1-2018 6
General Fund
Revenues
The combined total of property, sales/use, utility, gambling, and admissions taxes provides
approximately 80% of all resources supporting general governmental activities. The following
section provides additional information on these sources.
Property Tax collections through Q1-2018 totaled $701,000 and were $200,000 below budget
expectations. However, 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. Therefore, it is
too early to predict whether 2018 property tax collections will be above or below budget.
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
$22.0
$24.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsProperty Taxes
2018 Budget
2018 YTD Actual
2017 Actual
$14.4
$15.8
$17.2 $17.9
$20.8
$0.7
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
2013 2014 2015 2016 2017 2018 YTDMillionsProperty Tax Revenue
Actuals
6
Quarterly Financial Report Through Q1-2018 7
Sales tax collections through Q1-2018 totaled $4.7 million, of which $4.1 million was distributed
to the General Fund and $600,000 was distributed to the Local Street Fund (SOS) program as
per financial policy. Total sales tax revenue distributions to the General Fund through Q1-2018
exceeded budget expectations by $337,000, or 9.1%.
$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)
2018 Budget
2018 YTD Actual
2017 Actual
$12.4
$13.8 $14.5 $14.6 $14.9
$4.1
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
2013 2014 2015 2016 2017 2018 YTDMillionsSales and Use Tax
General Fund Only
Actuals
7
Quarterly Financial Report Through Q1-2018 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 Q1-2018 exceeded prior year collections by $294,000, or
6.7%. The business sectors showing the largest increase in revenues compared to last year
were the services and wholesale trade industries.
Sales tax revenue on construction is transferred to the Local Street Fund (Fund 103) for local
street repair and maintenance. Through the first quarter of 2018, this totaled $623,000, which
was essentially the same as collections in Q1-2017 and is $214,000 higher than budget.
2017 2018
Component Group Actual Actual Amount
Construction 628,536$ 623,421$ (5,115)$ (0.8)%
Manufacturing 206,450 169,053 (37,397)(18.1)%
Transportation & Warehousing 29,549 19,879 (9,670)(32.7)%
Wholesale Trade 311,473 399,133 87,660 28.1 %
Automotive 937,591 1,009,073 71,483 7.6 %
Retail Trade 1,342,361 1,396,352 53,990 4.0 %
Services 906,349 1,043,983 137,634 15.2 %
Miscellaneous 27,212 22,820 (4,392)(16.1)%
YTD Total 4,389,521$ 4,683,713$ 294,192$ 6.7 %
Comparison of Sales Tax Collections by SIC Group
Through March
Change from 2017
Percentage
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsSales Tax on Construction Transfer
2018 Budget
2018 YTD Actual
2017 Actual
8
Quarterly Financial Report Through Q1-2018 9
Utility Taxes consist of interfund taxes on City utilities (Water, Sewer, Storm and Solid Waste)
and taxes on external utilities (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes
collected in Q1-2018 were $96,000, or 4.0%, higher than budget expectations.
$1.9 $1.8
$2.3 $2.3
$2.6
$0.6
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
2013 2014 2015 2016 2017 2018 YTDMillionsSales Tax On Construction Revenue
Actuals
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsUtility Tax
2018 Budget
2018 YTD Actual
2017 Actual
9
Quarterly Financial Report Through Q1-2018 10
Favorable variances in electric and natural gas revenues offset lower collections in telephone
utility taxes.
2017 2018 2018
Utility Tax Type YTD Actual YTD Budget YTD Actual Amount Amount
City Interfund Utility Taxes 889,876$ 892,300$ 889,631$ $ (245)(0.0)% $ (2,669)(0.3)%
Electric 878,558 875,600 936,682 58,125 6.6 %61,082 7.0 %
Natural Gas 227,755 242,100 270,367 42,612 18.7 %28,267 11.7 %
Telephone 362,726 376,200 352,969 (9,757) (2.7)%(23,231) (6.2)%
Solid Waste (external)31,394 0 32,961 1,567 5.0 %32,961 N/A %
YTD Total 2,390,309$ 2,386,200$ 2,482,611$ $ 92,302 3.9 % $ 96,411 4.0 %
Through March 2018
Utility Tax by Type
2018 vs. 2017 Actual 2018 vs. Budget
Percentage Percentage
$9.5 $10.0 $9.7 $10.0 $10.2
$2.5
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
2013 2014 2015 2016 2017 2018 YTDMillionsUtility Tax Revenues
Actuals
10
Quarterly Financial Report Through Q1-2018 11
Cable Franchise Fees, which are collected quarterly, totaled $254,000 and exceeded budget
by $6,000, or 2.5%.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
$1,100
1st Quarter 2nd Quarter 3rd Quarter 4th QuarterThousandsCable Franchise Fee
2018 Budget
2018 YTD Actual
2017 Actual
$0.9 $0.9 $0.9 $1.0 $1.0
$0.3
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
2013 2014 2015 2016 2017 2018 YTDMillionsCable Franchise Fee
Actuals
11
Quarterly Financial Report Through Q1-2018 12
Cable Utility Tax (New in 2017). In September 2016, City Council 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. The collections in Q1-
2018 totaled $267,000 and was favorable to budget by $17,000, or 6.6%.
Licenses and Permits include business licenses, building permits, plumbing, electric and other
licenses and permit fees. Building permit fees and business licenses make up about 70% of the
annual budgeted revenue in this category.
Business license revenues collected through March 2018 totaled $180,000, reflecting the fact
that a large percentage of business owners have already paid their 2018 annual business
license fees in Q1 2018. In contrast, only 56% of total 2017 business license fees were paid in
Q1 2017.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1st Quarter 2nd Quarter 3rd Quarter 4th QuarterThousandsCable Utility Tax
(New in 2017)
2018 Budget
2018 YTD Actual
2017 Actual
12
Quarterly Financial Report Through Q1-2018 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
2018 Budget
2018 YTD Actual
2017 Actual
$236
$171
$282
$225
$163
$180
$0
$50
$100
$150
$200
$250
$300
$350
2013 2014 2015 2016 2017 2018 YTDThousandsBusiness License Revenues
Actuals
13
Quarterly Financial Report Through Q1-2018 14
Building permit revenues collected through March 2018 totaled $269,000, and compare to a
year-to-date budget of $285,000. A total of 125 building permits were issued through Q1-2018
compared to 153 building permits issued through Q1-2017. Of the building permit revenues
collected in Q1-2018, 78% was attributable to commercial projects and the remaining 22% was
predominately single family housing permits.
Major projects contributing to building permit revenues in the first quarter of 2018 include the
Hudson Distribution Center and projects at Boeing.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsBuilding Permits
2018 Budget
2018 YTD Actual
2017 Actual
$2.1
$1.5
$1.2
$2.0
$1.2
$0.3
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
2013 2014 2015 2016 2017 2018 YTDMillionsBuilding Permits
Actuals
14
Quarterly Financial Report Through Q1-2018 15
Intergovernmental revenues include grants (direct and indirect federal, state and local),
compact revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental service revenues,
and state shared revenues. Collections through Q1-2018 totaled $1.5 million and were
$96,000, or 7.0%, favorable to budget. The majority of the amount above budget was increased
distributions from the state for marijuana excise taxes. The Q1-2018 distribution for this line
item included make-up monies from the September and December 2017 distributions. Also, the
2018 distribution is based upon a higher distribution base compared to 2017.
2017 2018 2018
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
Federal Grants 3,413$ -$ -$ $ (3,413)(100.0)% $ - N/A %
State Grants 25,576 25,700 36,988 11,412 44.6 %11,288 43.9 %
Interlocal Grants 0 0 0 0 0.0 %0 N/A %
Muckleshoot Casino Services 172,105 227,733 227,733 55,628 32.3 %0 0.0 %
Intergovernmental Service 0 0 0 0 N/A %0 N/A %
State Shared Revenues:
Streamlined Sales Tax 479,242 472,150 480,641 1,399 0.3 %8,491 1.8 %
Motor Vehicle Fuel Tax 263,153 301,300 285,947 22,794 8.7 %(15,353) (5.1)%
Criminal Justice - High Crime 143,245 48,000 52,488 (90,757) (63.4)%4,488 9.4 %
Criminal Justice - Population 5,329 6,100 5,595 266 5.0 %(505) (8.3)%
Criminal Justice - Special Prog.19,388 20,200 20,270 882 4.6 %70 0.3 %
Marijuana Revenues 9,832 16,250 100,310 90,478 920.3 %84,060 517.3 %
State DUI 2,938 3,000 2,919 (20) (0.7)%(82) (2.7)%
Fire Insurance Tax 0 0 0 0 N/A %0 N/A %
Liquor Excise 86,509 90,000 91,868 5,359 6.2 %1,868 2.1 %
Liquor Profit 162,707 162,000 163,585 878 0.5 %1,585 1.0 %
Total State Shared:1,172,343 1,119,000 1,203,622 31,279 2.7 %84,622 7.6 %
YTD Total 1,373,437$ 1,372,433$ 1,468,342$ 94,906$ 6.9 %95,910$ 7.0 %
Through March 2018
Intergovernmental Revenues (Grants, Entitlements & Services)
2018 vs. 2017 Actual 2018 vs. Budget
% Change % Change
$4.8 $5.1 $5.3 $5.7 $6.1
$1.5
$0
$1
$2
$3
$4
$5
$6
$7
$8
2013 2014 2015 2016 2017 2018 YTDMillionsIntergovernmental Revenues
(Grants, Entitlements & Services)
Actuals
15
Quarterly Financial Report Through Q1-2018 16
Charges for Services consist of general governmental service charges, public safety charges,
development service fees, and cultural & recreation fees. Overall, charges for services
collected through March 2018 totaled $884,000, which was $25,000 higher than revenues
collected through Q1-2017 and $68,000 favorable to budget.
General governmental charges for service collected through Q1-2018 totaled $22,000 and were
$3,000 favorable to budget.
Public safety revenues consist of revenues received for police officer extra duty security
services – where officers are contracted for and reimbursement is made by the hiring contractor
– as well as reimbursements from the Muckleshoot Indian Tribe (MIT) for a full-time dedicated
police officer and associated expenditures. These revenues also include monies collected from
the Auburn School District and the Criminal Justice Training Commission (CJTC) for services
rendered. Public safety revenues collected through Q1-2018 totaled $219,000 and compare to
a budget of $155,000. The majority of the favorability seen in this revenue source is due to
extra duty overtime reimbursements exceeding budget expectations – predominately due to
increased requests for police officer security services.
2017 2018 2018
Revenue YTD Actual YTD Budget YTD Actual Amount Amount
General Government 20,865$ 19,100$ 22,144$ $ 1,279 6.1 % $ 3,044 15.9 %
Public Safety 234,782 155,225 218,947 (15,834) (6.7)%63,722 41.1 %
Development Services 201,340 236,700 152,822 (48,518) (24.1)%(83,878) (35.4)%
Culture & Recreation 401,456 404,800 489,855 88,399 22.0 %85,055 21.0 %
YTD Total 858,443$ 815,825$ 883,768$ 25,325$ 3.0 % $ 67,943 8.3 %
Through March 2018
Charges for Services by Type
2018 vs. 2017 Actual 2018 vs. Budget
Percentage Percentage
$3.3
$3.9 $4.3 $4.1 $4.2
$0.9
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
2013 2014 2015 2016 2017 2018 YTDMillionsCharges for Services
Actuals
16
Quarterly Financial Report Through Q1-2018 17
Development services fee collections, which primarily consist of plan check fees, totaled
$153,000 and ended the quarter $84,000, or 35.4%, under budget expectations. Total plan
check fees through the first quarter totaled $112,000, compared to a budget of $202,000. Plan
check revenues collected through Q1-2018 include both commercial and residential projects,
including projects at Boeing, Wyndham Hotel, Multicare, and Green River College. Of the
$112,000 in plan check revenues collected through Q1-2018, 71% was attributable to
commercial projects in the City and the remaining 29% was predominately single family housing
projects.
$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
2018 Budget
2018 YTD Actual
2017 Actual
$1.1 $1.1
$1.4
$1.0
$0.9
$0.2
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
2013 2014 2015 2016 2017 2018 YTDMillionsDevelopment Service Fees
Actuals
17
Quarterly Financial Report Through Q1-2018 18
Culture and recreation revenues collected through Q1-2018 totaled $490,000, exceeding
collections in the same period last year by $85,000 and exceeding Q1 2018 budget
expectations by $88,000. The majority of the year-over-year increase in revenues was seen in
recreational class revenues and green fees at the Auburn Golf Course. The majority of culture
and recreation 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
2018 Budget
2018 YTD Actual
2017 Actual
$2.1 $2.2 $2.3 $2.3 $2.4
$0.5
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
2013 2014 2015 2016 2017 2018 YTDMillionsCulture & Recreation Revenues
Actuals
18
Quarterly Financial Report Through Q1-2018 19
Fines & Penalties include traffic and parking infraction penalties, criminal fines (including
criminal traffic, criminal non-traffic and other criminal offenses) as well as non-court fines such
as false alarm fines. Total revenues collected through Q1-2018 totaled $244,000 compared to a
budget of $230,000.
2017 2018 2018
Month YTD Actual YTD Budget YTD Actual Amount Amount
Civil Penalties 2,557$ 1,100$ 4,178$ $ 1,621 63.4 % $ 3,078 279.8 %
Civil Infraction Penalties 135,248 132,800 130,924 (4,324) (3.2)%(1,876) (1.4)%
Redflex Photo Enforcement 2,707 0 2,914 206 7.6 %2,914 N/A %
Parking Infractions 31,782 35,200 35,986 4,204 13.2 %786 2.2 %
Criminal Traffic Misdemeanor 14,556 9,500 17,893 3,336 22.9 %8,393 88.3 %
Criminal Non-Traffic Fines 3,487 9,000 14,418 10,931 313.5 %5,418 60.2 %
Criminal Costs 11,573 11,100 15,344 3,771 32.6 %4,244 38.2 %
Non-Court Fines & Penalties 15,362 31,000 22,264 6,901 44.9 %(8,736) (28.2)%
YTD Total 217,273$ 229,700$ 243,919$ $ 26,646 12.3 % $ 14,219 6.2 %
Through March 2018
Fines & Penalties by Type
2018 vs. 2017 Actual 2018 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
2018 Budget
2018 YTD Actual
2017 Actual
19
Quarterly Financial Report Through Q1-2018 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. Revenues collected in this category through Q1-2018 totaled $420,000 and
exceeded budget expectations by $183,000. The majority of the increase in revenues was seen
in the rents and leases category.
Interest and investments revenues collected through Q1-2018 exceeded budget expectations by
$64,000. This is a direct reflection of the increase in the State Investment Pool interest rate.
Lastly, other miscellaneous revenues exceeded budget expectations by $8,000 mainly due to
unbudgeted assessment for code compliance property abatements.
$1.4
$1.2
$0.9 $0.9 $0.9
$0.2
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
2013 2014 2015 2016 2017 2018 YTDMillionsFines & Penalties
Actuals
2017 2018 2018
Month YTD Actual YTD Budget YTD Actual Amount Amount
Interest & Investments 35,929$ 11,100$ 74,666$ 38,737$ 107.8 %63,566$ 572.7 %
Rents & Leases 217,707 159,700 265,221 47,514 21.8 %105,521 66.1 %
Contributions & Donations 8,350 4,400 9,937 1,588 19.0 %5,537 125.9 %
Other Miscellaneous Revenue 76,549 62,200 70,624 (5,926)(7.7)%8,424 13.5 %
YTD Total 338,535$ 237,400$ 420,448$ 81,913$ 24.2 %183,048$ 77.1 %
Miscellaneous Revenues by Type
Through March 2018
2018 vs. 2017 2018 vs. Budget
Percentage Percentage
20
Quarterly Financial Report Through Q1-2018 21
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects
Fund and is used for governmental capital projects. REET revenues collected through Q1-2018
totaled $696,000 and exceeded budget expectations by $94,000, or 15.6%, although this was
$103,000 less than what was collected during the same period last year. Real estate sales
include the sale of both commercial properties and single family residences. Commercial sales
through Q1-2018 included the sale of several multi-family properties, retail, industrial and
warehouse properties.
$0.7
$1.0 $1.0
$1.2
$1.5
$0.4
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
2013 2014 2015 2016 2017 2018 YTDMillionsMiscellaneous Revenues
Actuals
2017 2018 2018
Month Actual Budget Actual Amount Amount
Jan 224,044$ 200,800$ 240,414$ 16,371$ 7.3 %39,614$ 19.7 %
Feb 249,683 200,800 200,783 (48,899) (19.6)%(17) (0.0)%
Mar 326,044 200,800 255,218 (70,826) (21.7)%54,418 27.1 %
Apr 234,480
May 299,251
Jun 353,807
Jul 330,707
Aug 325,936
Sep 309,422
Oct 286,675
Nov 289,045
Dec 325,309
YTD Total 799,771$ 602,400$ 696,416$ (103,355)$ (12.9)%94,016$ 15.6 %
Real Estate Excise Tax Revenues
March 2018
Percentage
2018 vs. 2017 2018 vs. Budget
Percentage
21
Quarterly Financial Report Through Q1-2018 22
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsReal Estate Excise Tax
2018 Budget
2018 YTD Actual
2017 Actual
$2.2 $2.5
$4.6
$4.3
$3.6
$0.7
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
2013 2014 2015 2016 2017 2018 YTDMillionsReal Estate Excise Tax Revenues
Actuals
22
Quarterly Financial Report Through Q1-2018 23
Pet Licensing
In the first quarter of 2018, 662 pet licenses were sold, resulting in $17,570 in revenue. In the
first quarter of 2017, 1,123 licenses were sold, resulting in $29,080 in revenue. These
reductions are due in part to lower sales and in part to the transition from PetData to AVHS
(PetData stopped providing services earlier than expected). The variance is expected to be
offset by increases in license sales in Q2-2018.
0
500
1,000
1,500
2,000
2,500
$0
$2
$4
$6
$8
$10
$12
JanFebMarAprMayJunJulAugSepOctNovDecNumber of Licenses IssuedLicense Revenue( thousands )Pet Licensing Revenues vs Licenses Sold
2018 vs 2017
2017 License Revenue
2018 License Revenue
2017 Licenses Issued
2018 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
2018 vs 2017
2018 License Revenue
2018 Licenses Issued
2017 Licenses Issued
23
Quarterly Financial Report Through Q1-2018 24
Street Funds
This section provides a financial overview of the City’s three street funds for the quarter ending
March 31, 2018. The City’s three street funds include the Arterial Street Fund (Fund 102), the
Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105).
Fund 102 – Arterial Street Fund
The Arterial Street Fund is a special revenue fund that is funded by transportation grants, traffic
impact fees, a portion of the City’s gas tax receipts, Public Works Trust Fund loans, developer
contributions, and other sources. As of March 31, 2018 there were 24 separate street projects
budgeted in this fund.
Through March, revenues collected totaled $452,000 as compared with collections of $153,000
through Q1-2017. Total expenditures in Q1-2018 were $770,000 and compare to $1.2 million
expended in Q1-2017. Variances in revenues and expenditures are largely due to the timing of
capital expenditures and any subsequent reimbursement via federal grants, as well as the
current phase of individual projects.
Fund 102 - Arterial Street 2017
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2018 Budget Budget Actual Actual Amount
Revenues
Federal Grants 629,200$ -$ -$ -$ -$
State Grants - - - 7,398 -
Motor Vehicle Fuel and Multimodal Taxes 585,000 128,760 150,077 131,391 21,317 16.6 %
Developer Contributions - - - 2,061 -
Miscellaneous Revenue - - - - -
Other Governmental Agencies - - - - -
Public Works Trust Fund Loans - - - - -
Operating Transfer In 644,917 35,734 295,929 9,892 260,195 728.2 %
Investment Income 2,600 504 6,294 2,051 5,791 1150.0 %
Total Revenues 1,861,717$ 164,997$ 452,300$ 152,793$ 287,303$ 174.1 %
Expenditures
Salary and Benefits 551,000$ 142,755$ 96,095$ 180,093$ 46,660$ 32.7 %
Capital Outlay 1,259,200 114,497 648,226 939,396 (533,729) (466.2)%
Subtotal - Capital Project Expenditures 1,810,200 257,251 744,320 1,119,489 (487,069) (189.3)%
Services and Charges 400,000 21,899 1,778 36,068 20,121 91.9 %
Interfund Payments for Services 78,859 19,715 19,716 19,170 (1) (0.0)%
Debt Service Principal and Interest 208,818 - - - -
Operating Transfer Out 55,615 13,904 4,272 - 9,631 69.3
Total Expenditures 2,553,492$ 312,769$ 770,087$ 1,174,727$ (457,318)$ (146.2)%
Net Change in Fund Balance (691,775)$ (147,772)$ (317,787)$ (1,021,934)$ (170,015)$ 115.1 %
Beg. Fund Balance, January 2018 1,802,389$
Net Change in Fund Balance, March 2018 (317,787)
Ending Fund Balance, March 2018 1,484,602$
2018 Budgeted Ending Fund Balance 1,110,614$
2018 2018 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
24
Quarterly Financial Report Through Q1-2018 25
This table presents the status of the projects with the most significant budget impact on the
fund:
Notes:
• Budgeted amounts and prioritized projects are expected to change significantly in Q2-2018, after
carryforwards have been approved.
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
$10.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 102 -Capital Project Expenditures
2018 YTD Budget
2018 YTD Actual
2017 YTD Actual
2018 YTD Actual:
$0.7M
2018 Annual Budget:
$1.8M
2017 YTD Actual:
$1.1M
Name Annual Budget YTD Actual Remaining
A St SE & 37th St SE $0.4M $0.0M $0.4M
S. 277th St Corridor Improvements $0.4M $0.0M $0.3M
Lea Hill Road Corridor Study $0.2M $0.0M $0.2M
All Other Projects (21 Others Budgeted)$0.9M $0.7M $0.2M
Total $1.8M $0.7M $1.1M
*Components may not sum to total due to rounding.
Fund 102 - Arterial Street
Capital Projects Status *
25
Quarterly Financial Report Through Q1-2018 26
Fund 103 – Local Street Fund
The Local Street Fund is a special revenue fund where the revenues from sales taxes on
construction are used for local street repair. Through March 31, 2018 revenues in this fund
totaled $786,000, exceeding year-to-date budget expectations by $236,000 due to higher than
anticipated sales tax revenues from local construction projects. This is consistent with
collections of $783,000 through Q1-2017. Total expenditures in Q1-2018 were $116,000 and
compare to expenditures of $87,000 during Q1-2017. Historically, well over half of this fund’s
annual expenditures occur in the final four months of each year due to the weather sensitivity of
pavement construction (this work needs to be done primarily in the summer and early fall).
Highlighted in the table below and shown in the following graph are the fund’s total expenditures
related to capital projects.
Fund 103 - Local Street Fund 2017
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2018 Budget Budget Actual Actual Amount
Revenues
Sales Tax on Construction 1,750,000$ 397,786$ 623,421$ 628,536$ 225,634$ 56.7 %
Operating Transfer In 150,000 150,000 150,000$ 150,000 - 0.0 %
Interest Earnings 9,100 1,953 12,426$ 4,471 10,473 536.3 %
Total Revenues 1,909,100$ 549,739$ 785,847$ 783,007$ 236,108$ 42.9 %
Expenditures
Salary and Benefits 148,817$ 36,301$ 33,371$ 34,117$ 2,930$ 8.1 %
Capital Project Expenditures 2,405,998 106,721 77,103 49,229 29,618 27.8 %
Services and Charges 700 155 1,956 178 (1,801) (1161.2)%
Interfund Payments for Services 12,239 3,060 3,060 2,979 (0) (0.0)%
Operating Transfer Out 516 129 74 - 55 42.3
Total Expenditures 2,568,270$ 146,366$ 115,564$ 86,502$ 30,801$ 21.0 %
Net Change in Fund Balance (659,170)$ 403,373$ 670,282$ 696,504$ 266,909$ 66.2 %
Beg. Fund Balance, January 2018 1,352,634$
Net Change in Fund Balance, March 2018 670,282
Ending Fund Balance, March 2018 2,022,916$
2018 Budgeted Ending Fund Balance 693,464$
2018 2018 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
26
Quarterly Financial Report Through Q1-2018 27
This table presents the status of the projects with the most significant budget impact on the
fund:
Notes:
• The 2017 Local Street Reconstruction Project began construction in 2017 and has continued into 2018 due
to weather limitations in 2017. The carry-forward for this project was approved in 2018 BA#4.
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 103 -Capital Project Expenditures
2018 YTD Budget
2018 YTD Actual
2017 YTD Actual 2018 Annual
Budget :
$2.4M
2017 YTD Actual:
$0.0M
2018 YTD Actual:
$0.1M
Name Annual Budget YTD Actual Remaining
2018 Local Street Pavement Reconstruction $2.4M $0.0M $2.4M
2017 Local St. Reconst. & Preservation $0.0M $0.1M -$0.1M
Total $2.4M $0.1M $2.3M
*Components may not sum to total due to rounding.
Fund 103 - Local Street
Capital Projects Status*
27
Quarterly Financial Report Through Q1-2018 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 2018 include 15th Street NE/NW Preservation, South 277th Street
Preservation, and Citywide Pavement Patching and Overlay. During Q1-2018, revenues totaled
$527,000 and compare to collections of $504,000 in Q1-2017.
Total expenditures during Q1-2018 were $166,000, which compares to expenditures of $79,000
in Q1-2017. Historically, the majority of this fund’s expenditures occur in the second half of each
year due to the weather sensitivity of pavement construction (this work needs to be done
primarily in the summer and early fall). Highlighted in the table below and shown in the following
graph are the fund’s total expenditures related to capital projects.
Fund 105 - Arterial Street Preservation 2017
Summary of Sources and Uses Annual YTD YTD YTD
Report Period: March 2018 Budget Budget Actual Actual Amount
Revenues
City Utility Tax 700,000$ 164,838$ 148,272$ 148,313$ (16,566)$ (10.1)%
Electric Utility Tax 715,600 180,035 187,336 175,712 7,302 4.1 %
Natural Gas Utility Tax 201,200 51,703 54,073 45,551 2,370 4.6 %
Cable TV Tax 197,200 48,868 53,319 51,208 4,451 9.1 %
Telephone Utility Tax 281,600 78,534 58,633 72,545 (19,901) (25.3)%
Garbage Utility Tax (External Haulers)- - 5,122 5,232 5,122
Grants 1,412,440 102,875 - - (102,875) (100.0)%
Developer Mitigation Fees - - - - -
Operating Transfer In 2,212,400 1,106,200 13,063 - (1,093,137) (98.8)%
Interest Earnings 4,900 1,225 7,531 4,977 6,306 514.8 %
Total Revenues 5,725,340$ 1,734,278$ 527,350$ 503,537$ (1,206,928)$ (69.6)%
Expenditures
Salary and Benefits 225,000$ 36,565$ 87,465$ 75,622$ (50,901)$ (139.2)%
Capital Outlay 4,749,840 705,925 78,743 3,518 627,182 88.8 %
Subtotal - Capital Project Expenditures 4,974,840 742,490 166,209 79,140 576,281 77.6 %
Supplies - - - - -
Services and Charges 150,000 - - - -
Operating Transfer Out 46,100 23,050 - - 23,050 100.0
Total Expenditures 5,170,940$ 765,540$ 166,209$ 79,140$ 599,331$ 78.3 %
Net Change in Fund Balance 554,400$ 968,738$ 361,141$ 424,397$ (607,597)$ (62.7)%
Beg. Fund Balance, January 2018 1,409,825$
Net Change in Fund Balance, March 2018 361,141
Ending Fund Balance, March 2018 1,770,966$
2018 Budgeted Ending Fund Balance 1,964,225$
2018 2018 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
28
Quarterly Financial Report Through Q1-2018 29
This table presents the status of the projects with the most significant impacts on the fund:
Notes:
• Construction on the 15th Street NE/NW Preservation project was delayed from 2017 to 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 could not be expended until 2018.
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillionsFund 105 -Capital Project Expenditures
2018 YTD Budget
2018 YTD Actual
2017 YTD Actual
2018 Annual
Budget:
$5.0M
2017 YTD Actual:
$0.1M
2018 YTD Actual:
$0.2M
Name Annual Budget YTD Actual Remaining
15th St NE/NW Preservation $1.5M $0.04M $1.5M
S 277th Street Preservation $1.3M $0.0M $1.3M
2018 Citywide Pavement and Patching Overlay $1.2M $0.0M $1.2M
All Other Projects (4 Others Budgeted)$.9M $.1M $0.8M
Total $5.0M $0.2M $4.8M
*Components may not sum to total due to rounding.
Capital Projects Status*
Fund 105 - Arterial Street Preservation
29
Quarterly Financial Report Through Q1-2018 30
Fund 124 – Mitigation Fees
The Mitigation Fees Fund is a special revenue fund funded from revenues from new
development, which are assessed at the time applications are received for development activity.
These funds are used to mitigate costs associated with City growth. In Q1-2018, revenues were
below budget expectations, at 5.9% of the annual budgeted amount versus an expectation of
about 20%. This variance is largely due to a decrease in single-family housing development,
which is the source of parks impact fees and a significant source of transportation impact fees.
In addition, many of the projects contributing to other impact fee revenues in Q1-2018 were
residential, which generally generate less revenue for the City than commercial projects.
Expenditures were slightly below budget due to the timing of capital projects funded by these
revenues.
Fund 124 - Mitigation Fees
Summary of Sources and Uses
Report Period Through:Ending Ending
March 2018 Fund Balance Fund Balance
Transportation Impact Fees 22,377$ 249,415$ 4,989,431$ 800,000$ 578,817$ 4,990,050$
Transportation Migitation Fees - 46,513 187,792 - 20,000 80,500
Fire Impact Fees 9,047 - 95,420 100,000 50,000 136,300
Fire Mitigation Fees - - 81 - - 81
Parks Impact Fees 17,500 260 5,347,376 600,000 700,000 3,400,000
Parks Mitigation Fees - - 335,302 - - 330,000
School Impact Admin Fees 272 - 56,387 12,000 - 56,615
Wetland Mitigation Fees - - 69,661 - 31,600 38,000
Interest and Investment Income 41,210 - 41,210 8,200 - 8,200
Fees in Lieu of Improvements - - 123,313 - - 123,300
Operating Transfers - - - - - -
Total 90,406$ 296,189$ 11,245,973$ 1,520,200$ 1,380,417$ 9,163,046$
Beginning Fund Balance, January 2018 11,451,755$
Net Change in Fund Balance, March 2018 (205,782)
Ending Fund Balance, March 2018 11,245,973$
2018 Budgeted Ending Fund Balance 9,163,046$
YTD ACTUALS BUDGET
Revenues Expenditures Revenues Expenditures
30
Quarterly Financial Report Through Q1-2018 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 appendices provide 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.
Through March 31, 2018 the Water Utility had operating income before depreciation of $1.2
million as compared with $1.1 million over the same period last year. Revenues are on track
with budget expectations, and are expected to increase during the second half of the year due
to increased water sales during the summer months.
Water sales by volume during Q1-2018 totaled 619,000 hundred cubic feet (ccf), compared to
649,000 ccf during Q1-2017, representing a 4.7% decrease. 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; in Q1-2017, Water District #111 consumed
39,300 ccf of water.
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
$2,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CCFThousandsWater Revenues vs Water Sold
2018 vs 2017
2017 Water Sales ($)
2018 Water Sales ($)
2017 Water Sold (ccf)
2018 Water Sold (ccf)
31
Quarterly Financial Report Through Q1-2018 32
The Sewer Utility finished Q1-2018 with operating income before depreciation of $557,000 as
compared to operating income of $441,000 in Q1-2017. This increase is due primarily to lower
operating expenditures thus far in 2018.
The Stormwater Utility ended Q1-2018 with operating income before depreciation of $773,000
compared with $663,000 in Q1-2017. This increase is due primarily to lower operating
expenditures.
Through first quarter 2018, the Solid Waste Utility Fund had $3.7 million in operating revenues,
compared to $3.5 million in operating expenditures, resulting in an increase in W orking Capital
of about $168,000.
The City of Auburn’s Solid Waste services are outsourced to Waste Management and to
Republic Services, who manages the contract for the annexed areas. As of March 2018,
Waste Management serviced 15,447 customers (79% of customers) and Republic Services
serviced 4,047 customers (21% of customers).
The current mix of customer account types is:
• 89% Residential
• 8% Commercial
• 3% Multifamily
The “diversion rate” is a measure of how much generated waste is not sent to the landfill; i.e.,
waste that is either recycled or collected yard waste. Through Q1-2018, the total diversion rate
was 29%, which represents a total of 4,600 tons of waste that was diverted from landfills.
Q1-2018 Tons Collected and Diversion Rates:
Garbage -
2,700 tons
(54.5%)
Yard Waste -
1,100 tons
(22.3%)
Recycling -
1,100 tons
(23.2%)
Q1-2018 Residential Waste Stream
Garbage
Yard Waste
Recycling
Garbage -
1,700 tons
(76.6%)
Yard Waste -
100 tons
(4.3%)
Recycling -
400 tons
(19.1%)
Q1-2018 Multifamily Waste Stream
Garbage
Yard Waste
Recycling
Total: 2,200 tons collected
Diversion Rate: 23%
Total: 4,900 tons collected
Diversion Rate: 46%
32
Quarterly Financial Report Through Q1-2018 33
Of the total tonnage collected through Q1-2018, 30% was collected from residential customers,
14% from multifamily customers, and 56% from commercial customers, as shown in the
following graph.
Garbage -7,100
tons (79.4%)
Yard Waste -
100 tons (0.4%)
Recycling -
1,800 tons
(20.2%)
Q1-2018 Commercial Waste Stream
Garbage
Yard Waste
Recycling
Total: 9,000 tons collected
Diversion Rate: 21%
Garbage -
11,500 tons
(71.4%)
Yard Waste -
1,200 tons
(7.6%)
Recycling -
3,400 tons
(21.0%)
Q1-2018 Total Waste Stream
Garbage
Yard Waste
Recycling
Total: 16,100 tons collected
Diversion Rate: 29%
5,808
4,715
5,541
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18Tonnage2018 YTD Solid Waste Tonnage by Customer Type
Residential Multifamily Commercial
33
Quarterly Financial Report Through Q1-2018 34
Through Q1-2018 the Cemetery Fund experienced operating income of $133,000, as
compared with an operating income of $158,000 in Q1-2017. This variance is mainly due to
increased expenditures for supplies and slightly lower revenues from sales.
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 2018. 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.
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecThousandsCEMETERY
2018 YTD Budgeted
Revenue
2018 YTD Actual
Revenue
2017 YTD Actual
Revenue
2018 YTD Actual
Expenses
Cumulative Revenues & Expenditures
2017 Budget vs. Actual
34
Quarterly Financial Report Through Q1-2018 35
P-Card Statistics
The City has been actively promoting the use of P-Cards in lieu of purchase orders to minimize
effort and maximize incentive payments from the vendor and the State. In Q1 2018, 3,924
P-Card transactions were processed as compared with 895 purchase order transactions. Total
incentive payments received from US Bank in Q1 2018 totaled $20,223. These are estimated
payments since the quarterly rebate checks are not actually received until the next quarter.
Additionally, there is an annual incentive payment from the State that is received in Q2 of each
year. The annual State incentive payment for 2017 was $24,693 and was received in April of
2018.
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.
1,001
3,722
895
3,924
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Purchase
Order
Transactions
PCard
Transactions
PCard
Incentives
Received
(see text)
Purchase Order and PCard Transactions
Q1 2017 and 2018
2017 2018
$20,908 $20,223
35
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 113,956,915$ Various 1.58%
KeyBank Money Market Various 5,361,942 Various 0.02%
OpusBank Public Interest Acct Various 10,058,688 Various 1.68%
FNMA 3/11/2016 998,844 2/22/2019 1.20%
FHLB 2/28/2018 2,000,000 2/28/2023 2.65%
Total Cash & Investments 132,376,389$ 1.534%
Investment Mix % of Total
State Investment Pool 86.1%Current 6-month treasury rate 1.92%
KeyBank Money Market 4.1%Current State Pool rate 1.58%
OpusBank Public Interest Acct 7.6%KeyBank Money Market 0.02%
FHLB 1.5%OpusBank Public Interest Acct 1.68%
FNMA 0.8%Blended Auburn rate 1.53%
100.0%
City of Auburn
Investment Portfolio Summary
March 31, 2018
Summary
36
SALES TAX SUMMARY
MARCH 2018 SALES TAX DISTRIBUTIONS (FOR JANUARY 2018 RETAIL ACTIVITY)
2017 Annual Total 2017 YTD 2018 YTD YTD 2017 Annual Total 2017 YTD 2018 YTD YTD
NAICS CONSTRUCTION (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff NAICS AUTOMOTIVE (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff
236 Construction of Buildings 1,503,231 345,361 370,471 7.3%441 Motor Vehicle and Parts Dealer 3,703,385 b 870,929 937,343 7.6%
237 Heavy and Civil Construction 209,928 51,661 31,653 -38.7%447 Gasoline Stations 268,146 66,662 71,731 7.6%
238 Specialty Trade Contractors 918,947 231,514 221,297 -4.4%TOTAL AUTOMOTIVE 3,971,531$ 937,591$ 1,009,073$ 7.6%
TOTAL CONSTRUCTION 2,632,107$ 628,536$ 623,421$ -0.8%Overall Change from Previous Year 71,483$
Overall Change from Previous Year (5,115)$
2017 Annual Total 2017 YTD 2018 YTD YTD
2017 Annual Total 2017 YTD 2018 YTD YTD NAICS RETAIL TRADE (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff
NAICS MANUFACTURING (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff 442 Furniture and Home Furnishings 197,226 54,037 58,930 9.1%
311 Food Manufacturing 4,642 1,938 1,138 -41.3%443 Electronics and Appliances 211,036 54,608 62,268 14.0%
312 Beverage and Tobacco Products 7,842 2,148 3,579 66.6%444 Building Material and Garden 580,347 124,204 120,424 -3.0%
313 Textile Mills 264 60 195 225.7%445 Food and Beverage Stores 368,971 95,485 95,309 -0.2%
314 Textile Product Mills 1,501 224 239 6.5%446 Health and Personal Care Store 368,699 96,367 104,997 9.0%
315 Apparel Manufacturing 227 36 45 26.3%448 Clothing and Accessories 1,118,980 a 333,465 335,926 0.7%
316 Leather and Allied Products 46 23 17 -23.2%451 Sporting Goods, Hobby, Books 199,717 59,717 59,356 -0.6%
321 Wood Product Manufacturing 16,528 6,661 3,981 -40.2%452 General Merchandise Stores 992,858 303,658 303,944 0.1%
322 Paper Manufacturing 15,254 3,329 1,901 -42.9%453 Miscellaneous Store Retailers 463,719 121,523 156,904 29.1%
323 Printing and Related Support 54,391 13,908 14,284 2.7%454 Nonstore Retailers 370,027 99,298 98,293 -1.0%
324 Petroleum and Coal Products 1,040 262 3,827 1360.7%TOTAL RETAIL TRADE 4,871,580$ 1,342,361$ 1,396,352$ 4.0%
325 Chemical Manufacturing 15,982 1,912 1,932 1.0%Overall Change from Previous Year 53,990$
326 Plastics and Rubber Products 8,856 1,752 2,251 28.4%
327 Nonmetallic Mineral Products 17,749 4,390 3,678 -16.2%
331 Primary Metal Manufacturing 818 275 374 36.1%2017 Annual Total 2017 YTD 2018 YTD YTD
332 Fabricated Metal Product Manuf 28,618 10,476 6,065 -42.1%NAICS SERVICES (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff
333 Machinery Manufacturing 18,216 4,585 5,733 25.1%51*Information 662,460 171,866 171,971 0.1%
334 Computer and Electronic Product 32,957 5,752 1,415 -75.4%52*Finance and Insurance 122,200 28,040 36,056 28.6%
335 Electric Equipment, Appliances 1,103 361 289 -19.9%53*Real Estate, Rental, Leasing 367,828 87,871 101,573 15.6%
336 Transportation Equipment Man 385,842 136,327 103,628 -24.0%541 Professional, Scientific, Tech 238,617 57,535 66,138 15.0%
337 Furniture and Related Products 34,157 5,465 4,798 -12.2%551 Company Management 13 4 2 -45.0%
339 Miscellaneous Manufacturing 31,567 6,567 9,683 47.4%56*Admin. Supp., Remed Svcs 276,380 66,252 86,053 29.9%
TOTAL MANUFACTURING 677,596$ 206,450$ 169,053$ -18.1%611 Educational Services 55,506 11,459 11,299 -1.4%
Overall Change from Previous Year (37,397)$ 62*Health Care Social Assistance 74,678 21,138 23,734 12.3%
71*Arts and Entertainment 109,577 17,577 27,058 53.9%
72*Accommodation and Food Svcs 1,276,310 287,866 339,042 17.8%
2017 Annual Total 2017 YTD 2018 YTD YTD 81*Other Services 546,059 128,886 137,544 6.7%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff 92*Public Administration 182,112 27,855 43,513 56.2%
481 Air Transportation 2 2 0 -100.0%TOTAL SERVICES 3,911,740$ 906,349$ 1,043,983$ 15.2%
482 Rail Transportation 20,972 13,938 3,058 -78.1%Overall Change from Previous Year 137,634$
484 Truck Transportation 4,014 1,345 676 -49.7%
485 Transit and Ground Passengers -3,390 21 34 64.2%
488 Transportation Support 51,246 10,705 11,143 4.1%2017 Annual Total 2017 YTD 2018 YTD YTD
491 Postal Service 274 92 81 -11.9%NAICS MISCELLANEOUS (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff
492 Couriers and Messengers 1,859 93 731 688.3%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 13,526 3,354 4,156 23.9%111-115 Agriculture, Forestry, Fishing 6,486 1,599 1,117 -30.2%
TOTAL TRANSPORTATION 88,502$ 29,549$ 19,879$ -32.7%211-221 Mining & Utilities 26,023 5,193 5,167 -0.5%
Overall Change from Previous Year (9,670)$ 999 Unclassifiable Establishments 32,865 20,420 16,536 -19.0%
TOTAL SERVICES 65,374$ 27,212$ 22,820$ -16.1%
Overall Change from Previous Year (4,392)$
2017 Annual Total 2017 YTD 2018 YTD YTD
NAICS WHOLESALE TRADE (Nov '16-Oct '17)(Nov '16-Jan '17)(Nov '17-Jan '18)% Diff
423 Wholesale Trade, Durable Goods 1,080,558 243,625 326,801 34.1%GRAND TOTAL 17,581,514$ 4,389,521$ 4,683,713$
424 Wholesale Trade, Nondurable 278,097 65,336 71,759 9.8%Overall Change from Previous Year 294,192$ 6.7%
425 Wholesale Electronic Markets 4,428 2,512 573 -77.2%
TOTAL WHOLESALE 1,363,083$ 311,473$ 399,133$ 28.1%Total March 2018 Sales Tax Distributions 1,369,327$
Overall Change from Previous Year 87,660$ Dollar Increase from March 2017 33,535$
Percent Increase from March 2017
Includes Adjustments in excess of +/- $10,000.Comparisons:
a. WA State Dept of Revenue audit adjustment to sales tax returns for period of April 2017 (adjustment: - $29,746).March 2017 4,389,521 3,053,729 1,335,792$
b. WA State Dept of Revenue audit adjustment to sales tax returns for period of October 2017 (adjustment: $36,668).March 2016 4,247,841 3,027,161 1,220,680$
03/20/18
Prepared by Auburn Finance Department
2.5%
37
Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance
OPERATING FUND:460 460 461 461 462 462
OPERATING REVENUES
Charges For Service 15,203,431 3,075,261 (12,128,170) 8,142,100 2,040,688 (6,101,412) 18,189,923 4,152,214 (14,037,709) 9,242,676 2,438,239 (6,804,437)
Grants - - - - - -
Interest Earnings 10,000 27,400 17,400 20,000 15,217 (4,783) 1,000 4,476 3,476 15,000 13,425 (1,575)
Rents, Leases, Concessions, & Other 219,024 52,210 (166,814) 75,570 139 (75,431) - - - 63,226 14,389 (48,837)
TOTAL OPERATING REVENUES 15,432,455 3,154,871 (12,277,584) 8,237,670 2,056,044 (6,181,626) 18,190,923 4,156,690 (14,034,233) 9,320,902 2,466,054 (6,854,848)
OPERATING EXPENSES
Salaries & Wages 2,799,131 630,553 2,168,578 1,808,531 451,248 1,357,283 - - - 2,716,743 656,912 2,059,831
Benefits 1,416,014 310,107 1,105,907 906,551 222,039 684,512 - - - 1,396,377 324,913 1,071,464
Supplies 334,244 54,755 279,489 136,550 13,980 122,570 - - - 94,550 15,935 78,615
Other Service Charges 5,060,750 600,737 4,460,013 2,958,471 550,271 2,408,200 - - - 1,770,779 320,196 1,450,583
Intergovernmental Services (Less Transfers Out)9,500 2,920 6,580 83,000 13,049 69,951
Waste Management Payments
Sewer Metro Services 18,250,200 4,348,202 13,901,998
(*) Debt Service Interest 1,313,575 - 1,313,575 264,928 - 264,928 - - - 350,697 - 350,697
Interfund Loan Repayment - - -
Net Change Restricted Assets
Interfund Operating Rentals & Supplies 1,422,040 355,556 1,066,484 1,034,321 258,579 775,742 - - - 1,444,254 361,616 1,082,638
TOTAL OPERATING EXPENSES 12,345,754 1,951,708 10,394,046 7,118,852 1,499,037 5,619,815 18,250,200 4,348,202 13,901,998 7,856,400 1,692,620 6,163,780
OPERATING REVENUES LESS EXPENSES
BEFORE DEPRECIATION 3,086,701 1,203,163 (1,883,538) 1,118,818 557,007 (561,811) (59,277) (191,512) (132,235) 1,464,502 773,434 (691,068)
NON-OPERATING REVENUES
Operating Transfers-in
NON-OPERATING EXPENSES
Transfer to Capital Subfund 1,250,000 - 1,250,000 - - - 1,200,000 - 1,200,000
Other Operating Transfers-out 244,091 24,232 219,859 224,720 14,326 210,394 336,992 102,047 234,945
(*) Debt Service Principal 1,760,291 - 1,760,291 550,947 - 550,947 425,578 - 425,578
Net Change in Restricted Net Assets - 5,051 5,051 - 1,881 1,881 - -
Interfund Loan Repayment
BEGINNING WORKING CAPITAL - January 1, 2018 6,129,999 5,574,972 (555,027) 2,122,667 3,609,377 1,486,710 2,550,812 3,033,467 482,655 1,549,673 2,910,117 1,360,444
ENDING WORKING CAPITAL - March 31, 2018 5,962,318 6,748,852 786,534 2,465,818 4,150,177 1,684,359 2,491,535 2,841,955 350,420 1,051,605 3,581,504 2,529,899
NET CHANGE IN WORKING CAPITAL (see Note)(167,681) 1,173,880 1,341,561 343,151 540,801 197,650 (59,277) (191,512) (132,235) (498,068) 671,387 1,169,455
CAPITAL FUND:
CAPITAL REVENUES
Interest Revenue - 5,408 5,408 - 45,159 45,159 - 47,860 47,860
Grants 87,500 - (87,500) - - -
Contributions - - - - - - -
Other Non-Operating Revenue - - - - - - - - -
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - -
Increase In Contributions - System Development 1,250,000 39,780 (1,210,220) 600,000 40,153 (559,847) 600,000 32,974 (567,026)
Interfund Revenues - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - -
Proceeds of Debt Activity 2,500,000 - (2,500,000) - - - - - -
Transfers In from Operating Sub-Fund 1,250,000 - (1,250,000) - - - 1,200,000 - (1,200,000)
Transfer In from Other Funds 200,000 - (200,000) - - - - -
Other Sources - - - - - - - - -
TOTAL CAPITAL REVENUES 5,287,500 45,188 (5,242,312) 600,000 85,312 (514,688) 1,800,000 80,834 (1,719,166)
CAPITAL EXPENSES
Other Non-Operating Expense - - - - - - - - -
Increase In Fixed Assets - Salaries 307,857 41,539 266,318 87,857 9,774 78,083 95,714 32,998 62,716
Increase In Fixed Assets - Benefits 123,143 18,990 104,153 35,143 4,021 31,122 38,286 14,385 23,901
Increase In Fixed Assets - Services - - - - - - - - -
Increase In Fixed Assets - Site Improvements - 23,164 (23,164) - - - - -
Increase In Fixed Assets - Equipment - - - - 18,854 (18,854) - - -
Increase In Fixed Assets - Construction 3,828,186 449,703 3,378,483 1,398,000 26,457 1,371,543 1,890,100 14,313 1,875,787
Operating Transfers Out 50,000 50,000 - 150,000 50,000 100,000 150,000 50,000 100,000
TOTAL CAPITAL EXPENSES 4,309,186 583,396 3,725,790 1,671,000 109,107 1,561,893 2,174,100 111,696 2,062,404
BEGINNING WORKING CAPITAL - January 1, 2018 636,055 1,485,010 848,955 11,703,077 12,467,191 764,114 11,444,296 13,194,888 1,750,592
1,614,369 946,802 (667,567) 10,632,077 12,443,396 1,811,319 11,070,196 13,164,026 2,093,830
NET CHANGE IN WORKING CAPITAL (see Note)978,314 (538,208) (1,516,522) (1,071,000) (23,795) 1,047,205 (374,100) (30,862) 343,238
Total Change in Working Capital 810,633 635,672 (174,961) (727,849) 517,006 1,244,855 (59,277) (191,512) (132,235) (872,168) 640,525 1,512,693
(*) Depreciation 3,250,000 860,954 2,430,000 560,859 - - 2,210,000 528,762
OPERATING & CAPITAL FUNDS
WATER
ENTERPRISE FUNDS
SEWER SEWER METRO STORMCash Basis through March 2018
(*) Debt service interest as shown represents actual cash outlay. Debt service principal represents actual expenditures; payments will be made as scheduled in December 2018.
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - March 31, 2018
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, 2018
ENDING WORKING CAPITAL - March 31, 2018
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
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2018
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
OPERATING & CAPITAL FUNDS
Cash Basis through March 2018
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - March 31, 2018
Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance
464 464 465 465 466 466 -
14,955,350 3,664,154 (11,291,196) 843,300 228,928 (614,372) 933,000 417,809 (515,191) - - -
88,600 - (88,600) - - - - -
9,000 17,408 8,408 2,500 2,744 244 800 2,323 1,523 1,500 3,743 2,243
- 882 882 3,000 (1,011) (4,011) - - -
15,052,950 3,682,445 (11,370,505) 848,800 230,662 (618,138) 933,800 420,131 (513,669) 1,500 3,743 2,243
339,207 86,379 252,828 - - - 490,917 115,998 374,919 - - -
159,496 39,091 120,405 - - - 277,863 64,388 213,475 237,000 20,907 216,093
33,400 864 32,536 2,500 2,359 141 221,700 62,479 159,221 - - -
1,625,795 328,944 1,296,851 548,550 177,239 371,311 157,980 31,236 126,744 4,230 876,860 (872,630)
367,050 - 367,050 - - - - - - - - -
12,301,000 3,030,171 9,270,829
- - - 16,425 337 16,088 - - - - - -
- - - - -
114,279 28,569 85,710 1,500 375 1,125 48,898 12,225 36,673 - - -
14,940,227 3,514,018 11,426,209 568,975 180,310 388,665 1,197,358 286,326 911,032 241,230 897,767 (656,537)
112,723 168,427 55,704 279,825 50,352 (229,473) (263,558) 133,805 397,363 (239,730) (894,024) (654,294)
250,000 - (250,000) - - -
- - - - - - 1,033 149 884
175,000 - 175,000 - - -
- 399 399 - - -
40,100 10,047 30,053
4,727,235 5,083,854 356,619 350,800 422,608 71,808 260,152 514,788 254,636 1,827,920 2,015,500 187,580
4,839,958 5,252,281 412,323 415,525 462,513 46,988 245,561 648,444 402,883 1,588,190 1,121,476 (466,714)
112,723 168,427 55,704 64,725 39,905 (24,820) (14,591) 133,656 148,247 (239,730) (894,024) (654,294)
- 964 964 - 941 941
119,467 - (119,467) - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
2,150,000 - (2,150,000) - - -
- - -- - -
- - -- - -
- - -75,000 - (75,000)
- - - - - -
2,269,467 964 (2,268,503) 75,000 941 (74,059)
- - - - - -
106,429 - 106,429 - - -
42,571 - 42,571 - - -
- - - - 33 (33)
- - - -
- -
2,259,934 31,124 2,228,810 75,000 - 75,000
- - - - - -
2,408,934 31,124 2,377,810 75,000 33 74,967
204,635 260,972 56,337 256,633 259,037 2,404
65,168 230,813 165,645 256,633 259,945 3,312
(139,467) (30,160) 109,307 - 908 908
112,723 168,427 (74,742) 9,746 84,488 (14,591) 134,564 149,155 (239,730) (894,024) (654,294)
19,500 4,705 481,000 119,996 51,000 9,049 - -
INSURANCE
(*) Debt service interest as shown represents actual cash outlay. Debt service principal represents actual expenditures;
payments will be made as scheduled in December 2018.
ENTERPRISE FUNDS
SOLID WASTE AIRPORT CEMETERY
INTERNAL SERVICE FUNDS
39
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, 2018
ENDING WORKING CAPITAL - March 31, 2018
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
Operating Transfers Out
TOTAL CAPITAL EXPENSES
BEGINNING WORKING CAPITAL - January 1, 2018
NET CHANGE IN WORKING CAPITAL (see Note)
Total Change in Working Capital
(*) Depreciation
OPERATING & CAPITAL FUNDS
Cash Basis through March 2018
Working Capital = Current Assets
minus Current Liabilities
ENDING WORKING CAPITAL - March 31, 2018
Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance Budget
YTD
Actual Variance
- - 568 568 560 560
1,008,100 242,882 (765,218) 3,463,200 896,875 (2,566,325) 6,212,031 1,549,281 (4,662,750) 2,260,325 570,037 (1,690,288)
- - - - - -
2,600 5,993 3,393 8,800 7,447 (1,353) 5,500 6,911 1,411 - 11,840 11,840
93,000 2,280 (90,720) - - - - - - - 36,258 36,258
1,103,700 251,156 (852,544) 3,472,000 904,323 (2,567,677) 6,217,531 1,556,192 (4,661,339) 2,260,325 618,135 (1,642,190)
80,132 20,235 59,897 678,651 158,167 520,484 1,909,554 462,838 1,446,716 628,983 151,896 477,087
367,336 52,037 315,299 383,710 85,088 298,622 887,603 207,184 680,419 331,116 78,008 253,108
- - - 140,220 30,115 110,105 429,650 47,936 381,714 1,081,000 190,509 890,491
415,215 104,442 310,773 1,632,962 326,002 1,306,960 2,780,830 939,345 1,841,485 435,180 96,236 338,944
- - - - - - - - - - - -
- - - - - - - - - 2,618 800 1,818
- - - -
- - - 143,811 35,952 107,859 190,795 47,700 143,095 220,212 55,173 165,039
862,683 176,713 685,970 2,979,354 635,323 2,344,031 6,198,432 1,705,003 4,493,429 2,699,109 572,621 2,126,488
241,017 74,443 (166,574) 492,646 268,999 (223,647) 19,099 (148,811) (167,910) (438,784) 45,514 484,298
118,400 - (118,400) 743,196 44,335 (698,861) 150,000 150,000 -
846,939 1,900 845,039 500 500 - - - -
- - -
- - - - (108,277) (108,277)
1,220,391 1,625,120 404,729 1,231,672 1,741,924 510,252 1,548,695 1,804,816 256,121 2,923,877 3,110,811 186,934
1,461,408 1,699,562 238,154 995,779 2,009,024 1,013,245 2,310,490 1,699,840 (610,650) 2,635,093 3,414,603 779,510
241,017 74,443 (166,574) (235,893) 267,099 502,992 761,795 (104,975) (866,770) (288,784) 303,792 592,576
- 6,427 6,427 - 13,387 13,387
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - 1,703,631 425,907 (1,277,724)
- - - - - -
- - - - - -
- - - - - -
227,500 - (227,500) 869,358 - (869,358)
- - - - - -
227,500 6,427 (221,073) 2,572,989 439,294 (2,133,695)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- -
1,056,300 102,954 953,346 975,651 63,127 912,524
- 1,460 (1,460) 720,000 68,664 651,336
- - - - - -
1,056,300 104,414 951,886 1,695,651 131,791 1,563,860
1,417,377 1,837,285 419,908 2,443,295 3,453,808 1,010,513
588,577 1,739,299 1,150,722 3,320,633 3,761,312 440,679
(828,800) (97,986) 730,814 877,338 307,504 (569,834)
241,017 74,443 (166,574) (235,893) 267,099 502,992 (67,005) (202,962) (135,957) 588,554 611,295 22,741
- - - - 726,000 116,305 987,000 283,752
INTERNAL SERVICE FUNDS
WORKER'S COMPENSATION FACILITIES INNOVATION & TECHNOLOGY EQUIPMENT RENTAL
40