HomeMy WebLinkAboutNovember 2012
AGENDA BILL APPROVAL FORM
Agenda Subject: November 2012 Financial Report
Date: January 10, 2013
Department: Finance
Attachments: Monthly Financial
Report
Budget Impact: $0
Administrative Recommendation:
Background Summary:
The purpose of the monthly financial reports is to summarize for the City Council the general state of
Citywide financial affairs and to highlight significant items or trends that the City Council should be aware
of. The following provides a high level summary of the City’s financial performance. Further detail can be
found within the attached financial report.
The November status report is based on financial data available as of December 28, 2012. Sales tax
information represents business activity that occurred in September 2012.
General Fund:
The general fund is the City’s largest fund and is used to account for the majority of City resources and
services except those required by statute or to be accounted for in another fund.
The General Fund is on target with expectations for the year and is expected to end 2012 with a fund
balance of approximately $12.1 million.
Revenue collections totaled $49.7 million and are running ahead of budget-to-date of $46.3 million due
primarily to increased revenues from building permits, plan check fees, property taxes and retail sales tax
collections. Year to date property tax revenue collected exceed budget by $353,000 or 2.8%. Sales tax
collections for the year exceed budget and prior year collections by $598,000 and $126,000 respectively.
The month of November saw several large one-time fees related to new construction. These included
building permit fees and development service fees related to The Outlet Collection-Seattle, the HCSA
regional laundry facility, as well as several housing developments including Kersey III and Brandon
Meadows.
Expenses totaled $48.0 million and are running below budget of $53.1 million and compare to
expenditures of $44.3 million for the same period last year. 2012 departmental expenses are below
budget primarily due to the timing of payments to SCORE, earlier staff vacancies, and continued vigilance
in monitoring general expenditures.
Enterprise Funds:
The City’s eight enterprise funds account for operations with revenues primarily provided from user fees,
charges or contracts for services.
At the end of November, the Water fund ended with operating income of $1,105,000; the Sewer fund
ended the period with a $620,300 operating loss; and the Storm Drainage fund ended with an operating
loss of $393,000.
The Golf Course ended the period with an operating loss of $271,700 as compared to an operating loss
of $207,700 for the same period last year. Year-to-date rounds played at the Golf Course totaled 44,832
as compared to 44,462 the previous year. The Cemetery ended with a $125,100 year-to-date operating
loss as compared to an operating loss of $221,500 for the previous year, reflecting increased lot and
marker sales.
1
Agenda Subject: November 2012 Financial Report
Date: 1/4/2013
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Facilities, Information Services, and Equipment Rental. By the end of the year, revenues
received from charges to internal client departments are projected to be sufficient to meet expenses.
Investment Portfolio:
The City’s total cash and investments at the end of November was $90.9 million compared to $92.2
million the previous month.
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks Human Services Planning & CD Fire Planning
Park Board Public Works Legal Police
Planning Comm. Other Public Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes No Call for Public Hearing ___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until ___/___/____
Councilmember: Partridge Staff: Coleman
Meeting Date: January 22, 2013 Item Number:
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Monthly Financial Report November 2012
General Fund 2011
Summary of Sources and Uses Annual
BudgetYTD BudgetYTD ActualYTD ActualAmountPercentage
OPERATING REVENUES
Property Tax 12,562,565 12,458,065 12,810,965 12,436,989 352,900 2.8%
Sales Tax 12,267,000 11,244,900 11,842,789 11,716,504 597,889 5.3%
Sales Tax - Annexation Credit 1,383,730 1,269,830 1,398,456 1,343,269 128,626 10.1%
Criminal Justice Sales Tax 1,212,900 1,115,700 1,281,874 1,240,245 166,174 14.9%
Brokered Natural Gas Tax 260,000 241,200 283,453 278,289 42,253 17.5%
City Utilities Tax 2,620,200 2,393,600 2,551,985 2,293,310 158,385 6.6%
Admissions Tax 360,000 358,900 343,737 357,583 (15,163) -4.2%
Electric Tax 3,275,000 3,275,000 3,151,923 3,092,930 (123,077) -3.8%
Natural Gas Tax 1,295,820 1,295,820 1,113,400 1,120,789 (182,420) -14.1%
Cable TV Franchise Fee 703,600 703,600 812,229 800,067 108,629 15.4%
Cable TV Franchise Fee - Capital 75,000 75,000 62,871 63,678 (12,129) -16.2%
Telephone Tax 2,012,400 1,884,100 1,786,503 1,876,946 (97,597) -5.2%
Garbage Tax (external)150,000 141,900 103,946 140,638 (37,954) -26.7%
Leasehold Excise Tax 50,000 33,000 28,792 29,711 (4,208) -12.8%
Gambling Excise Tax 331,500 327,200 257,902 252,805 (69,298) -21.2%
Taxes sub-total 38,559,715 36,817,815 37,830,824 37,043,752 1,013,009 2.8%
Business License Fees 200,000 118,300 139,631 131,956 21,331 18.0%
Building Permits 700,000 643,900 1,560,010 1,043,959 916,110 142.3%
Other Licenses & Permits 229,000 213,000 374,993 446,806 161,993 76.1%
Intergovernmental (Grants, etc.) - (1)5,497,433 4,989,299 5,252,175 5,042,981 262,876 5.3%
Charges for Services:
General Government Services 64,600 58,700 104,087 78,331 45,387 77.3%
Public Safety 223,500 201,200 205,378 221,564 4,178 2.1%
Development Services Fees 627,000 550,300 1,202,763 478,700 652,463 118.6%
Culture and Recreation 920,000 865,100 822,299 750,340 (42,801) -4.9%
Fines and Forfeits 1,499,800 1,389,400 1,405,019 1,813,989 15,619 1.1%
Fees/Charges/Fines sub-total 9,961,333 9,029,199 11,066,355 10,008,625 2,037,156 22.6%
Interests and Other Earnings 115,000 100,800 73,162 82,069 (27,638) -27.4%
Rents, Leases and Concessions 311,000 275,400 272,284 302,193 (3,116) -1.1%
Contributions and Donations 20,500 18,000 47,264 51,483 29,264 162.6%
Other Miscellaneous 46,200 43,400 111,716 109,787 68,316 157.4%
Transfers In 17,000 17,000 17,000 1,078,439 - 0.0%
Insurance Recoveries- Capital & Operating 50,000 44,974 235,095 150,069 190,122 422.7%
Other Revenues sub-total 559,700 499,574 756,521 1,774,039 256,947 51.4%
Total Operating Revenues 49,080,748 46,346,588 49,653,700 48,826,416 3,307,112 7.1%
Operating Expenditures
Council & Mayor 869,890 793,990 815,315 712,355 (21,325) -2.7%
Municipal Court & Probation 3,399,260 3,051,960 2,977,402 2,745,617 74,558 2.4%
Human Resources 942,164 853,530 774,031 722,126 79,499 9.3%
Finance 1,235,590 1,119,590 1,029,264 1,020,479 90,326 8.1%
City Attorney 1,699,500 1,552,400 1,484,753 1,413,664 67,647 4.4%
Planning 3,883,620 3,461,320 3,404,752 3,262,432 56,568 1.6%
Community & Human Services 1,160,360 1,077,660 872,283 901,259 205,377 19.1%
Jail - SCORE 4,764,750 4,260,550 3,019,159 4,199,912 1,241,391 29.1%
Police 20,682,698 18,473,198 16,617,637 16,378,664 1,855,561 10.0%
Engineering 2,718,870 2,441,770 2,286,305 2,031,591 155,465 6.4%
Parks and Recreation 7,598,230 6,957,230 6,744,736 6,441,113 212,494 3.1%
Streets 3,415,280 3,057,080 2,573,564 2,435,826 483,516 15.8%
Non-Departmental 7,130,550 5,989,150 5,408,894 2,022,182 580,256 9.7%
Total Operating Expenditures 59,500,762 53,089,428 48,008,093 44,287,220 5,081,335 9.6%
2012 2012 YTD Budget vs. Actual
Favorable (Unfavorable)
(1) The anticipated Streamlined Sales Tax for 2012 is $1.96 million. The year to date actual Sales Tax amount includes
$1,733,563 in Streamlined Sales Tax Mitigation received from the state through November 2012.
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Monthly Financial Report November 2012
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
November 30, 2012 and represents financial data available as of December 28, 2012. The
budgeted year-to-date revenues and operating expenses are based on the collection/disbursement
average for the same period of the two prior years.
General Fund revenues totaled $49.7 million and were above budget by 7.1%, or $3.3 million.
This period’s highlights include:
- Tax revenues totaled $37.8 million and was $1.0 million above budget.
- Sales taxes totaled $11.8 million and were $598,000 above budget.
- Revenue from Fees/Charges/Fines totaled $11.1 million and was $2.0 million above
budget due to stronger than budgeted revenue from development activity.
- Other revenues totaled $757,000 and was 51% or $257,000 above budget primarily to
insurance recoveries.
General Fund expenses totaled $48.0 million compared to $44.3 million for the same period last
year, reflecting one-time transfers to Cemetery, Golf Course debt and Cumulative Reserve funds.
Departmental expenditures in 2012 continue to run under budget due to earlier vacancies, timing
of SCORE payments, and continued vigilance in monitoring general spending. Savings in
Community and Human Services reflect under-spending for human services contracts, which will
be carried forward to 2013. Savings in the Streets Department reflect the timing of payments for
utility services; this is expected to correct itself by the end of the year.
Revenues
The combined total of property tax, sales/use tax, utility tax, gambling, and admissions tax
provide approximately 80% of all resources supporting general governmental activities. The
following section provides additional information on these sources.
Property Tax collections to date total $12.8 million to date and exceeds budget by $353,000 or
2.8%. Total property tax collected during the month of November was $1.3 million and
compares to $875,000 the same period last year. The majority of property tax revenues are
collected during the months of April and October, coinciding with the due date for County
property tax billings.
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Monthly Financial Report November 2012
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Property Taxes
2012 budget
2012 actual to date
2011 actual
Sales taxes totaled $11.8 million and exceeds budget by $598,000.
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Sales & Use Tax
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report November 2012
The following table breaks out the City’s base sales tax, excluding Criminal Justice, Annexation
Credit and Streamlined Sales Tax Mitigation by major business sectors.
20112012
Component GroupActualActualAmountPercentage
New Construction 1,184,356 1,062,016 (122,340) -10.3%
Manufacturing 533,379 364,442 (168,937) -31.7%
Transportation & Warehousing70,870 54,706 (16,164) -22.8%
Wholesale Trade 1,149,727 1,196,486 46,759 4.1%
Automotive 2,550,466 2,777,326 226,860 8.9%
Retail Trade 3,470,372 3,613,949 143,577 4.1%
Services 2,580,962 2,719,423 138,461 5.4%
Miscellaneous 212,110 57,335 (154,775) -73.0%
YTD Total 11,752,242 11,845,683 93,441 0.8%
Change from 2011
Year to Date through November
Comparison of Sales Tax Collections by SIC Group
As shown above, sales taxes by business sector totaled $11.8 million and are $93,000 more than
the same period last year.
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Utility Tax
2012 budget
2012 actual to date
2011 actual
Utility Taxes consists of City inter-fund utility taxes (Water, Sewer, Storm and Solid Waste) and
external utility taxes (Electric, Natural Gas, Telephone and Solid Waste). The following table
presents utility tax collections by source:
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Monthly Financial Report November 2012
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
City Interfund Utility Taxes2,293,310 2,393,600 2,551,985 258,674 11.3%158,385 6.6%
Electric 3,092,930 3,275,000 3,151,923 58,993 1.9%(123,077) -3.8%
Natural Gas 1,120,789 1,295,820 1,113,400 (7,389) -0.7%(182,420) -14.1%
Telephone 1,876,946 1,884,100 1,786,503 (90,442) -4.8%(97,597) -5.2%
Solid Waste 140,638 141,900 103,946 (36,692) -26.1%(37,954) -26.7%
YTD Total 8,524,613 8,990,420 8,707,757 183,144 2.1%(282,663) -3.1%
Year to Date through November
Utility Tax by Type
2012 vs. 20112012 vs. Budget
Cable TV Franchise Fees exceed budget by $109,000 and are comparable to 2011 levels. The final
quarterly payment has been received – closing the year at $812,000 in collected revenue.
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Cable TV Franchise Fee
2012 budget
2012 actual to date
2011 actual
Licenses and Permits include business licenses, building permits, plumbing, electric and other
licenses and permit fees. Building permit fees and Business licenses make up 80% of the annual
budgeted revenue in this category.
Year to date building permit revenues were $1.6 million and exceeded both budget and prior
year levels of $644,000 and $1.0 million respectively. November revenue collected for building
permits was $207,000 and included over $42,000 in building permit revenue generated by
Kersey III subdivision and $24,000 from the Outlet Collection – Seattle. In general, building
permit activity has increased, reflecting the broader trend of increased construction activity in the
region.
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Monthly Financial Report November 2012
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Building Permits
2012 budget
2012 actual to date
2011 actual
Business License revenues totaled $140,000, compared to prior year collection rate of $132,000.
The revenue for the year is billed out late in December and most payments are received between
January and February. This revenue source is expected to end the year at $226,000 and will
exceed 2011 collection levels by $11,000 or 5%.
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Business Licenses
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report November 2012
Intergovernmental includes Grants (Direct & Indirect Federal, State and Local), State shared
revenues and compact revenue from the Muckleshoot Indian Tribe. Collections totaled $5.3
million and exceeds budget by $263,000 or 5.3%. State shared revenue includes June 2012
disbursement of $188,000 by the State of Washington from the sale of state owned liquor
stores1, as well as Streamlined Sales Tax of $1,733,563.
201120122012
Revenue ActualBudgetActual% Change% Change
Federal Grants 412,864 515,592 607,502 47.1%17.8%
State Grants 128,231 59,951 124,458 -2.9%107.6%
Interlocal Grants 3,151 89,300 15,049 377.6%-83.1%
State Shared Revenue 3,761,562 3,624,456 3,774,693 0.3%4.1%
Muckleshoot Casino Emerg.712,294 700,000 711,063 -0.2%1.6%
Intergovernmental Service 24,880 - 19,411 -22.0%N/A
YTD Total 5,042,981 4,989,299 5,252,175 4.1%5.3%
Year to Date through November
Intergovernmental
2012 vs. 20112012 vs. Budget
201120122012
Revenue ActualBudgetActualAmountPercentageAmountPercentage
Trial Court Improvements22,468 24,500 22,632 164 0.7%(1,868) -7.62%
Court Interpreter Program6,643 11,760 13,174 6,531 98.32%1,414 12.02%
Motor Vehicle Fuel Tax 906,172 882,350 898,282 (7,890) -0.9%15,932 1.8%
Criminal Justice -High Crime146,442 - 149,088 2,645 1.8%149,088 N/A
Criminal Justice -Population15,470 64,800 15,934 465 3.0%(48,866) -75.4%
Criminal Justice -Spec. Prog.58,404 55,850 59,908 1,504 2.6%4,058 7.3%
State DUI 14,720 7,000 13,217 (1,503) -10.2%6,217 88.8%
Fire Insurance Premium Tax66,375 65,000 63,205 (3,170) 94.8%(1,795) -2.76%
Liquor Excise Tax 335,127 159,430 260,420 (74,708) -22.3%100,990 63.3%
Liquor Profits 367,156 558,000 545,271 178,115 48.5%(12,729) -2.28%
Streamlined Sales Tax 1,822,586 1,795,766 1,733,563 (89,022) -4.9%(62,203) -3.46%
YTD Total 3,761,562 3,624,456 3,774,693 13,131 0.3%150,237 4.1%
Year to Date through November
State Shared Revenues
2012 vs. 20112012 vs. Budget
1 The City of Auburn received $188,230 from the sale of State owned liquor stores in the month of June 2012 and is
reflected in this report. In addition, the City’s share of liquor excise taxes and liquor profits will be revised starting
July 1. Liquor excise taxes will be suspended for a twelve month period and will be reinstated at a lowered level
starting July 1, 2013 while liquor profits will be reduced to 2011 levels starting July 1. These changes were made as
a result of the State Legislature’s effort to balance the State budget during the 2012 legislative session.
9
Monthly Financial Report November 2012
Charges for Services consists of general governmental services, public safety, development service
fees and cultural & recreation fees and totaled $2.3 million. Development service fees and
culture and recreation fees make up over 85% of the revenue within this category.
Development services revenues totaled $1.2 million compared to budget of $550,000 due to
strong development activity. November collections include plan check revenues of $71,000, of
which $21,000 is attributable to the remodel of The Outlet Collection-Seattle. Culture and
recreation revenues are improved over 2011 levels, reflecting increased registrations for summer
camps, classes and league enrollment.
201120122012
Revenue ActualBudgetActualAmountPercentageAmountPercentage
General Government 78,331 58,700 104,087 25,756 32.88%45,387 77.32%
Public Safety 221,564 201,200 205,378 (16,186) -7.3%4,178 2.1%
Development Services478,700 550,300 1,202,763 724,064 151.3%652,463 118.6%
Culture & Recreation 750,340 865,100 822,299 71,960 9.6%(42,801) -4.9%
YTD Total 1,528,935 1,675,300 2,334,527 805,592 52.7%659,227 39.3%
Year to Date through November
Charges for Services by Type
2012 vs. 20112012 vs. Budget
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Development Service Fees
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report November 2012
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Culture & Recreation
2012 budget
2012 actual to date
2011 actual
Fines & Penalties totaled $1.4 million and exceed budget by $16,000 or 1.1%. Revenue
generated in November from the Red Light Photo Enforcement program was $45,000 higher
than anticipated due to high volume of citations issued during the back to school season in the
Fall.
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
Civil Penalties 17,388 13,100 14,317 (3,071) -17.7%1,217 9.3%
Civil Infraction Penalties 610,696 511,900 518,897 (91,800) -15.0%6,997 1.4%
Red Light Photo Enforcement775,954 456,700 546,254 (229,700) -29.6%89,554 19.6%
Parking Infractions 162,276 158,000 96,478 (65,798) -40.5%(61,522) -38.9%
Criminal Traffic Misdemeanor77,516 98,800 79,694 2,178 2.8%(19,106) -19.3%
Criminal Non-Traffic Fines83,688 82,700 75,914 (7,774) -9.3%(6,786) -8.2%
Criminal Costs 14,234 9,900 14,178 (56) -0.4%4,278 43.2%
Non-Court Fines & Penalties72,238 58,300 59,288 (12,950) -17.9%988 1.7%
YTD Total 1,813,989 1,389,400 1,405,019 (408,970) -22.5%15,619 1.1%
Year to Date through November
Fines & Forfeits by Type
2012 vs. 20112012 vs. Budget
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Monthly Financial Report November 2012
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Fines & Penalties
2012 budget
2012 actual to date
2011 actual
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Photo Enforcement
2012 budget
2012 actual to date
2011 actual
12
Monthly Financial Report November 2012
Miscellaneous revenues include interest and other investment earnings, rents, leases &
concessions, contributions & donations and other miscellaneous income. Revenues in this
category totaled $504,000 and exceeds budget by $67,000.
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
Interest & Investments 82,069 100,800 73,162 (8,907) -10.9%(27,638) -27.4%
Rents & Leases 302,193 275,400 272,284 (29,909) -9.9%(3,116) -1.1%
Contributions & Donations51,483 18,000 47,264 (4,219) -8.2%29,264 162.6%
Other Miscellaneous Revenue109,787 43,400 111,716 1,929 1.8%68,316 157.4%
YTD Total 545,531 437,600 504,426 (41,105) -7.5%66,826 15.3%
Miscellaneous Revenues by Type
Year to Date through November
2012 vs. 20112012 vs. Budget
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. Year to date REET revenue totals $1.6 million and
exceeds budget by $268,000. The revenue spike seen in the 4th quarter is primarily due to the
sale of Auburn Regional Medical Center to Multicare.
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Real Estate Excise Tax
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report November 2012
Enterprise Funds
The following table provides an analysis of the City’s Enterprise funds – showing 2012 revenues
and expenditures by fund.
WaterSewerStormSolid WasteAirportCemeteryGolf
OPERATING REVENUES
Charges for Services 9,417,427 4,829,923 6,813,096 10,462,525 14,203 782,723 961,307
Sewer Metro Service Revenue - 11,933,861 - - - - -
Rents, Leases, Concessions & Other - - - - 534,459 - 371,323
TOTAL OPERATING REVENUES 9,417,427 16,763,784 6,813,096 10,462,525 548,662 782,723 1,332,630
OPERATING EXPENSES:
Administration 2,244,394 1,782,348 2,357,731 674,478 476,541 268,742 207,345
Operations & Maintenance 4,076,532 2,470,138 3,509,895 1,250,753 10,000 576,258 1,109,772
Waste Management Payments - - - 7,532,937 - - -
Sewer Metro Services - 11,529,484 - - - - -
Depreciation & Amortization 1,991,422 1,602,088 1,338,448 17,251 363,803 62,840 287,191
TOTAL OPERATING EXPENSES 8,312,348 17,384,058 7,206,074 9,475,419 850,344 907,840 1,604,308
OPERATING INCOME (LOSS)1,105,079 (620,274) (392,978) 987,106 (301,682) (125,117) (271,678)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 33,319 31,212 17,044 766 1,954 355 787
Other Non Operating Revenue 273,301 101,361 112,351 102,583 870 14,617 9,846
Other Non Operating Expense (28,816) (20,541) - - (50,475) (22,267) (410)
TOTAL NON-OPERATING REVENUES (EXPENSES)277,803 112,032 129,396 103,349 (47,651) (7,295) 10,223
1,382,882 (508,242) (263,582) 1,090,455 (349,333) (132,412) (261,454)
Contributions 447,622 269,793 531,703 - - - -
Transfers In - - - - - 222,300 48,067
Transfers Out (50,000) (50,000) (50,000) - - - -
TOTAL CONTRIBUTIONS & TRANSFERS 397,622 219,793 481,703 - - 222,300 48,067
CHANGE IN FUND BALANCE 1,780,504 (288,449) 218,122 1,090,455 (349,333) 89,888 (213,387)
BEGINNING FUND BALANCE January 1, 201263,028,695 73,274,006 47,772,204 760,681 9,731,158 814,709 5,144,962
ENDING FUND BALANCE November 30, 201264,809,199 72,985,558 47,990,325 1,851,137 9,381,825 904,597 4,931,575
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
14
Monthly Financial Report November 2012
The following table presents the Working Capital Statements for the City’s Enterprise funds.
Working capital is generally defined as the difference between current assets and current
liabilities.
WaterSewerStormSolid WasteAirportCemeteryGolf
OPERATING REVENUES
Charges for Services 9,417,427 4,829,923 6,813,096 10,462,525 14,203 782,723 961,307
Sewer Metro Service Revenue - 11,933,861 - - - - -
Rents, Leases, Concessions & Other - - - - 534,459 - 371,323
TOTAL OPERATING REVENUES 9,417,427 16,763,784 6,813,096 10,462,525 548,662 782,723 1,332,630
OPERATING EXPENSES:
Salaries & Wages 1,908,574 1,261,065 1,757,350 362,912 18,140 405,755 519,166
Benefits 844,102 543,011 752,200 157,088 5,733 195,634 247,105
Supplies 183,810 59,973 69,687 44,197 - 127,407 250,898
Other Service Charges 2,365,434 1,688,090 2,044,604 894,807 462,668 55,605 151,437
Intergovernmental Services - - 20,003 297,101 - - -
Waste Management Payments - - - 7,532,937 - - -
Sewer Metro Services - 11,529,484 - - - - -
Interfund Operating Rentals/Supplies 1,019,006 700,349 1,220,560 169,125 - 60,599 148,511
Other Expenses - 3,222 - - - -
Depreciation & Amortization 1,991,422 1,602,088 1,338,448 17,251 363,803 62,840 287,191
TOTAL OPERATING EXPENSES 8,312,348 17,384,058 7,206,074 9,475,418 850,344 907,841 1,604,308
OPERATING INCOME (LOSS)1,105,079 (620,274) (392,977) 987,107 (301,683) (125,117) (271,678)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 33,319 31,212 17,044 766 1,954 355 787
Contributions 37,954 24,561 43,930 101,823 - 13,279 9,846
Other Non Operating Revenue 235,347 76,800 68,422 760 870 1,388 -
Gain (Loss) on Sale of Fixed Assets - - - - - (50) -
Debt Service Interest (28,816) (20,541) - - (50,475) (22,267) (410)
TOTAL NON-OPERATING REVENUES (EXPENSES)277,803 112,032 129,396 103,349 (47,651) (7,295) 10,223
Plus Items Not Effecting Working Capital
Depreciation 1,991,422 1,602,088 1,338,448 17,251 363,803 62,840 287,191
3,374,304 1,093,845 1,074,866 1,107,707 14,470 (69,572) 25,737
Increase in Contributions -System Development444,416 269,793 531,703 - - - -
Increase in Contributions -Area Assessments 3,206 - - - - - -
Increase in Contributions -Other Governments - - - - - - -
Operating Transfers In - - - - - 222,300 48,067
Increase in Restricted Net Assets 13,673 40,571 - - (14,285) -
Decrease in Long term Receivables - 45,000 - - - - -
Increase in Deferred Credits - - - - 9,812 - -
TOTAL RESOURCES OTHER THAN OPERATIONS461,295 355,365 531,703 - (4,473) 222,300 48,067
Net Change in Restricted Net Assets 843,282 284,389 336,961 - (119,866) (50) (17,136)
Increase in Fixed Assets - Salaries 142,875 90,625 55,483 - - -
Increase in Fixed Assets - Benefits 56,065 35,595 21,251 - - - -
Increase in Fixed Assets - Site Improvements 51,338 - - - 19,054 - -
Increase in Fixed Assets - Equipment 94,816 - - - - - -
Increase in Fixed Assets - Construction 8,837,363 1,617,013 797,160 - 82,790 - -
Operating Transfers Out 50,000 50,000 50,000 - - - -
Debt Service Principal 435,568 288,262 - - 105,000 - -
TOTAL USES OTHER THAN OPERATIONS 10,511,308 2,365,884 1,260,855 - 86,978 (50) (17,136)
NET CHANGE IN WORKING CAPITAL (6,675,709) (916,674) 345,715 1,107,707 (76,982) 152,778 90,940
BEGINNING WORING CAPITAL January 1, 201216,945,811 12,806,527 9,102,000 632,263 961,633 71,820 68,320
ENDING WORKING CAPITAL November 30, 201210,270,102 11,889,853 9,447,714 1,739,970 884,652 224,598 159,260
NET CHANGE IN WORKING CAPITAL (6,675,709) (916,674) 345,715 1,107,707 (76,982) 152,778 90,940
NET WORKING CAPITAL FROM OPERATIONS
15
Monthly Financial Report November 2012
The Water Utility’s position improved to $1,105,000 in net operating income and compares to
$474,900 for the same period in 2011.
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
JanFebMarAprMayJunJulAugSepOctNovDec
Water Revenues ($) vs Water Sold (ccf)
2011 -Present
2011 Water Sales ($)
2012 Water Sales ($)
2011 Water Sold (ccf)
2012 Water Sold (ccf)
The Sewer Utility’s position improved to a $620,300 net operating loss and compares to a $2.3
million net loss for the same period in 2011.
The Stormwater Utility ended the period with a $393,000 net operating loss and compares to
$345,500 in net income for the same period last year.
The number of rounds played at the Auburn Golf Course (AGC) through November totaled
44,832 as compared to 44,462 for the same period last year. The AGC ended November with a
net operating loss of $271,700 as compared to a loss of $207,700 for the same period last year.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
JanFebMarAprMayJunJulAugSepOctNovDec
Golf Course Operating Revenues by Month
(2012 vs 2011)
2012 Monthly Budget
2012 Actual
2011 Actual
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
JanFebMarAprMayJunJulAugSepOctNovDec
Cumulative Golf Course Operating Revenues
(2012 vs 2011)
2012 Cumulative Budget
2012 Cumulative
2011 Cumulative
16
Monthly Financial Report November 2012
The Cemetery Fund ended November with a $125,100 net operating loss as compared to a
$221,500 net operating loss for the same period last year, reflecting increased revenues from lot
and marker sales.
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
JanFebMarAprMayJunJulAugSepOctNovDec
Cemetery Operating Revenues by Month
(2012 vs 2011)
2012 Monthly Budget
2012 Actual
2011 Actual
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
JanFebMarAprMayJunJulAugSepOctNovDec
Cumulative Cemetery Operating Revenues
(2012 vs 2011)
2012 Cumulative Budget
2012 Cumulative
2011 Cumulative
17
Monthly Financial Report November 2012
Internal Service Funds
The following table provides an analysis of the City’s Internal Service funds – showing 2012
revenues and expenditures by fund.
InnovationEquipment
InsuranceFacilities& TechnologyRental
OPERATING REVENUES:
Interfund Charges for Services - 3,150,675 3,790,512 2,748,985
Rents, Leases, Concessions & Other - 125,979 76,550 -
TOTAL OPERATING REVENUES - 3,276,654 3,867,062 2,748,985
OPERATING EXPENSES:
Administration 243,592 - - 654,683
Operations & Maintenance - 2,998,366 3,736,291 1,290,542
Depreciation & Amortization - - 510,147 797,668
TOTAL OPERATING EXPENSES 243,592 2,998,366 4,246,438 2,742,893
OPERATING INCOME (LOSS)(243,592) 278,288 (379,376) 6,092
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 2,797 3,338 5,265 13,935
Other Non Operating Revenue - 13,072 526 13,546
Gain/Loss on Sale of Fixed Assets - - - 19,504
Other Non Operating Expense - - - -
TOTAL NON-OPERATING REVENUES (EXPENSES)2,797 16,410 5,791 46,985
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS(240,795) 294,698 (373,585) 53,077
Contributions - - 54,986 103,551
Transfers In - 300,000 - -
Transfers Out - (644,787) - (7,000)
TOTAL CONTRIBUTIONS & TRANSFERS - (344,787) 54,986 96,551
CHANGE IN FUND BALANCE (240,795) (50,089) (318,599) 149,628
BEGINNING FUND BALANCE January 1, 2012 2,184,680 1,570,419 4,350,183 10,135,919
ENDING FUND BALANCE November 30, 2012 1,943,885 1,520,329 4,031,585 10,285,547
18
Monthly Financial Report November 2012
The following table presents the Working Capital Statements for the City’s Internal Service funds.
Working capital is generally defined as the difference between current assets and current
liabilities.
InnovationEquipment
InsuranceFacilities& TechnologyRental
OPERATING REVENUES:
Interfund Charges for Services - 3,150,675 3,790,512 2,748,985
Rents, Leases, Concessions & Other - 125,979 76,550
TOTAL OPERATING REVENUES - 3,276,654 3,867,062 2,748,985
OPERATING EXPENSES:
Salaries & Wages - 595,971 1,207,043 389,832
Benefits - 259,195 484,987 159,161
Supplies - 105,200 312,410 834,268
Other Service Charges 243,592 1,151,496 1,466,860 365,946
Interfund Operating Rentals/Supplies - 89,738 264,990 196,017
Other Expenses - 796,766 - -
Depreciation & Amortization - - 510,147 797,668
TOTAL OPERATING EXPENSES 243,592 2,998,366 4,246,438 2,742,892
OPERATING INCOME (LOSS)(243,592) 278,288 (379,376) 6,093
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 2,797 3,338 5,265 13,935
Contributions - 13,072 - -
Other Non Operating Revenue - - 526 13,546
Gain/Loss on Sale of Fixed Assets - - - 19,504
Other Non Operating Expense - - - -
TOTAL NON-OPERATING REVENUES (EXPENSES)2,797 16,410 5,791 46,985
Plus Items Not Effecting Working Capital
Depreciation - - 510,147 797,668
(240,795) 294,698 136,562 850,746
Increase in Contributions -Other Governments - - 51,756 -
Increase in Contributions -Other Funds - - 3,230 103,551
Operating Transfers In - 300,000 - -
TOTAL RESOURCES OTHER THAN OPERATIONS - 300,000 54,986 103,551
Net Change in Restricted Net Assets - - 3,230 34,575
Increase in Fixed Assets - Site Improvements - - - 18,493
Increase in Fixed Assets - Equipment - - 385,170 1,265,569
Increase in Fixed Assets - Construction - - 51,756 29,276
Operating Transfers Out - 644,787 - 7,000
TOTAL USES OTHER THAN OPERATIONS - 644,787 440,157 1,354,913
NET CHANGE IN WORKING CAPITAL (240,795) (50,089) (248,608) (400,617)
BEGINNING WORING CAPITAL January 1, 2012 2,184,680 1,622,449 3,118,686 5,793,165
ENDING WORKING CAPITAL November 30, 2012 1,943,885 1,572,359 2,870,078 5,392,548
NET CHANGE IN WORKING CAPITAL (240,795) (50,089) (248,608) (400,617)
NET WORKING CAPITAL FROM OPERATIONS
19
Monthly Financial Report November 2012
Operating expenses within the Insurance Fund represents the premium cost-pool that will be
allocated monthly to other City funds over the course of 2012. As a result, this balance will
gradually diminish each month throughout the entire year. The Innovation & Technology Fund
ended with a net loss, reflecting the timing of expenses. No significant variances are reported in
the Facilities Fund or Equipment Rental Fund. Both funds have had sufficient revenues to cover
year-to-date expenses.
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 the report please
contact us at mchaw@auburnwa.gov or scoleman@auburnwa.gov.
20
SALES TAX SUMMARY
NOVEMBER 2012 SALES TAX DISTRIBUTIONS (FOR NOVEMBER - SEPTEMBER 2012 RETAIL ACTIVITY)
2011 Annual Total 2011 YTD 2012 YTD YTD 2011 Annual Total 2011 YTD 2012 YTD YTD
NAICS CONSTRUCTION (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff NAICS AUTOMOTIVE (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff
236 Construction of Buildings 582,840 549,108 412,439 -24.9%441 Motor Vehicle and Parts Dealer 2,560,962 2,343,781 2,571,637 9.7%
237 Heavy and Civil Construction 108,727 91,692 102,863 12.2%447 Gasoline Stations 224,459 206,685 205,688 -0.5%
238 Specialty Trade Contractors 604,245 543,556 546,713 0.6%TOTAL AUTOMOTIVE 2,785,421$ 2,550,466$ 2,777,326$ 8.9%
TOTAL CONSTRUCTION 1,295,813$ 1,184,356$ 1,062,016$ -10.3%Overall Change from Previous Year 226,860$
Overall Change from Previous Year (122,340)$
2011 Annual Total 2011 YTD 2012 YTD YTD
2011 Annual Total 2011 YTD 2012 YTD YTD NAICS RETAIL TRADE (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff
NAICS MANUFACTURING (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff 442 Furniture and Home Furnishings 218,335 202,540 206,024 1.7%
311 Food Manufacturing 2,674 2,454 2,849 16.1%443 Electronics and Appliances 126,870 117,956 135,722 15.1%
312 Beverage and Tobacco Products 3,864 3,635 5,300 45.8%444 Building Material and Garden 382,504 353,566 393,428 11.3%
313 Textile Mills 959 951 99 -89.6%445 Food and Beverage Stores 330,776 304,417 311,666 2.4%
314 Textile Product Mills 2,625 2,319 4,270 84.1%446 Health and Personal Care Store 148,387 137,105 138,000 0.7%
315 Apparel Manufacturing 2,519 2,498 214 -91.4%448 Clothing and Accessories 754,407 696,014 710,605 2.1%
316 Leather and Allied Products 175 167 59 -64.8%451 Sporting Goods, Hobby, Books 126,042 118,312 112,882 -4.6%
321 Wood Product Manufacturing 24,075 21,918 27,125 23.8%452 General Merchandise Stores 967,627 894,056 896,185 0.2%
322 Paper Manufacturing 11,026 10,540 3,556 -66.3%453 Miscellaneous Store Retailers 489,259 428,152 462,778 8.1%
323 Printing and Related Support 38,511 35,969 25,904 -28.0%454 Nonstore Retailers 235,923 218,255 246,658 13.0%
324 Petroleum and Coal Products 9,771 8,842 9,431 6.7%TOTAL RETAIL TRADE 3,780,129$ 3,470,372$ 3,613,949$ 4.1%
325 Chemical Manufacturing 7,937 7,332 7,126 -2.8%Overall Change from Previous Year 143,576$
326 Plastics and Rubber Products 9,777 8,779 8,674 -1.2%
327 Nonmetallic Mineral Products 16,218 14,964 15,818 5.7%
331 Primary Metal Manufacturing 452 282 1,766 525.4%2011 Annual Total 2011 YTD 2012 YTD YTD
332 Fabricated Metal Product Manuf 19,661 18,255 21,718 19.0%NAICS SERVICES (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff
333 Machinery Manufacturing 14,242 12,725 11,859 -6.8%51*Information 481,043 361,148 360,237 -0.3%
334 Computer and Electronic Produc 16,776 15,802 8,569 -45.8%52*Finance and Insurance 65,518 60,120 47,067 b -21.7%
335 Electric Equipment, Appliances 780 773 358 -53.7%53*Real Estate, Rental, Leasing 303,750 277,691 280,971 1.2%
336 Transportation Equipment Man 362,149 329,518 169,255 a -48.6%541 Professional, Scientific, Tech 174,718 163,239 158,654 -2.8%
337 Furniture and Related Products 13,135 12,106 17,310 43.0%551 Company Management 351 108 16 -85.5%
339 Miscellaneous Manufacturing 25,531 23,548 23,182 -1.6%56*Admin. Supp., Remed Svcs 294,603 276,788 314,662 13.7%
TOTAL MANUFACTURING 582,858$ 533,379$ 364,442$ -31.7%611 Educational Services 52,563 50,187 50,501 0.6%
Overall Change from Previous Year (168,937)$ 62*Health Care Social Assistance 40,737 37,378 28,238 -24.5%
71*Arts and Entertainment 148,629 143,590 147,906 3.0%
72*Accomodation and Food Svcs 838,924 767,921 841,986 9.6%
2011 Annual Total 2011 YTD 2012 YTD YTD 81*Other Services 389,241 357,132 358,095 0.3%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff 92*Public Administration 92,163 85,661 131,090 53.0%
481 Air Transportation 24 24 - -100.0%TOTAL SERVICES 2,882,241$ 2,580,962$ 2,719,423$ 5.4%
482 Rail Transportation 17,831 13,937 18,873 35.4%Overall Change from Previous Year 138,461$
484 Truck Transportation 36,261 35,585 12,288 -65.5%
485 Transit and Ground Passengers 68 68 268 292.1%
488 Transportation Support 18,083 16,721 17,247 3.1%2011 Annual Total 2011 YTD 2012 YTD YTD
491 Postal Service 202 184 401 117.6%NAICS MISCELLANEOUS (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff
492 Couriers and Messengers 1,492 1,457 568 -61.0%000 Unknown 1,958 1,958 1 -99.9%
493 Warehousing and Storage 3,121 2,893 5,060 74.9%111-115 Agriculture, Forestry, Fishing 7,355 7,249 2,761 -61.9%
TOTAL TRANSPORTATION 77,083$ 70,870$ 54,706$ -22.8%211-221 Mining & Utilities 21,830 20,523 28,865 40.6%
Overall Change from Previous Year (16,164)$ 999 Unclassifiable Establishments 192,496 182,380 25,709 -85.9%
TOTAL SERVICES 223,639$ 212,110$ 57,335$ -73.0%
Overall Change from Previous Year (154,775)$
2011 Annual Total 2011 YTD 2012 YTD YTD
NAICS WHOLESALE TRADE (Nov '10-Oct '11)(Nov '10-Sep '11)(Nov '11-Sep '12)% Diff
423 Wholesale Trade, Durable Goods 1,095,905 998,555 1,052,070 5.4%GRAND TOTAL 12,887,267$ 11,752,242$ 11,845,682$
424 Wholesale Trade, Nondurable 150,480 139,320 139,610 0.2%Overall Change from Previous Year 93,440$ 0.8%
425 Wholesale Electronic Markets 13,698 11,852 4,806 -59.5%
TOTAL WHOLESALE 1,260,083$ 1,149,727$ 1,196,486$ 4.1%
Overall Change from Previous Year 46,759$
a. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Nov 2011 (adjustment: -$73,971).
b. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Dec 2011 (adjustment: -$20,014).
11/19/12 file:Monthly Sales Tax Report.xls
Prepared by Auburn Finance Department
21
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 80,232,575$ Various 0.18%
KeyBank Money Market Various 8,612,154 Various 0.15%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FHLMC 12/19/2011 2,000,000 12/19/2014 1.000%
Total Cash & Investments 90,902,479$ 0.198%
Investment Mix % of Total
State Investment Pool 88.3%Current 6-month treasury rate 0.15%
KeyBank Money Market 9.5%Current State Pool rate 0.18%
US Treasury 0.1%KeyBank Money Market 0.15%
FHLMC 2.2%Blended Auburn rate 0.20%
100.0%
City of Auburn
Investment Portfolio Summary
November 30, 2012
Summary
22