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HomeMy WebLinkAboutDec 2013 AGENDA BILL APPROVAL FORM Agenda Subject: December 2013 Financial Report Date: February 6, 2014 Department: Finance Attachments: Monthly Financial Report Budget Impact: $0 Administrative Recommendation: For discussion only. Background Summary: The purpose of the monthly financial report 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 December status report is based on financial data available as of February 4, 2014 for the period ending December 31, 2013. Sales tax information represents business activity that occurred in October 2013. 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. Through December 2013, General Fund revenues totaled $53.7 million and exceed 2013 budget of $51.9 million due primarily to increased revenues from sales tax collections, building and other permit revenues, and development services fees. Retail sales tax collections for the year exceed budget by $739,000. Overall, license and permit revenues which include business licenses and development permits (such as building, plumbing and electrical inspection permit fees), exceed budget by a total of $486,000, and exceed prior year collections by $697,000. Development services fees exceed budget by $168,000, or 17.5%. Total building permits issued through December totaled 934, and compares to 923 building permits issued in 2012. In the downtown core, ground-breaking started in December for the Trek building located across the street from the City Hall Annex building. This will be a six story mixed use building with street level retail and residential units above. General Fund expenditures for the year totaled $54.8 million and compares to $52.9 million for the same period last year, and year-end budget of $58.3 million. 2013 expenditures reflect a one time transfer of $2.0 million to the Cumulative Reserve Fund and a year over year increase in payments to SCORE, which includes the debt service principal payment effective in 2013. Overall departmental spending is $3.5 million – or 6.0% under budget due to staff vacancies, underspend of contingency funds, and continued vigilance in monitoring general spending. The General Fund ended the year with an ending fund balance of $15.2 million. Ending 2013 fund balances will not be finalized until approximately June 2014 pending final year-end adjustments and certification by the State Auditor. Once the final ending 2013 fund balances are available, budgeted beginning 2014 fund balances will be reconciled and adjusted accordingly. During the month of December, 397 pet licenses were sold (as compared to 519 in 2012) resulting in $11,200 in revenue. In 2013, 5,093 licenses were sold (compared to 6,786 in 2012) bringing in a total of $154,475. 1 Agenda Subject: December 2013 Financial Report Date: 2/06/2014 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 December, the Water fund’s net operating income decreased to $594,200 (as compared to income of $968,200 in the previous year) reflecting purchased water payments to Tacoma Public Utilities. The Sewer fund ended with a $640,200 operating loss (compared to an operating loss of $1,032,400 the previous year, excluding Metro); the Sewer-Metro Utility ended the period with operating income of $249,700; and the Stormwater Utility ended with operating income of $864,900 (as compared to an operating loss of $457,500 the previous year). The Golf Course ended the period with an operating loss of $317,500 compared to an operating loss of $365,000 for the same period last year and reflects an improvement in total rounds played at the Golf Course (47,480 compared to 45,704 in 2012). The number of rounds played in December improved as a result of drier weather conditions (1.69 inches of rain as compared to 6.89 inches the previous year). The Cemetery ended December with net operating income of $44,900 compared to an operating loss of $170,700 for the previous year, reflecting an increase in operating revenue and a decrease in salaries/benefits expenditures. Internal Service Funds: Internal Service Funds provide services to other City departments and include functions such as Insurance, Facilities, Innovation and Technology, and Equipment Rental. All funds have sufficient revenues to cover year-to-date expenditures. Investment Portfolio: The City’s total cash and investments at the end of December was $113.0 million compared to $111.3 million the month prior. 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: Wales Staff: Coleman Meeting Date: February 18, 2014 Item Number: 2 Monthly Financial Report December 2013 (1) Streamlined Sales Tax mitigation payments represent intergovernmental revenues from the State of Washington and are presented above in the Intergovernmental Revenue category. The anticipated Streamlined Sales Tax for 2013 was $2,000,000. The Streamlined Sales Tax Mitigation received from the state through December was $1,952,778. General Fund 2012 Summary of Sources and Uses Annual Budget YTD Budget YTD Actual YTD Actual Amount Operating Revenues Property Tax 14,299,417 14,299,417 14,415,456 12,866,488 116,039 0.8 % Sales Tax 11,695,309 11,695,309 12,434,127 13,039,174 738,818 6.3 % Sales Tax - Annexation Credit 1,397,602 1,397,602 1,694,630 1,542,272 297,028 21.3 % Criminal Justice Sales Tax 1,225,059 1,225,059 1,516,946 1,401,995 291,887 23.8 % Brokered Natural Gas Tax 301,500 301,500 273,298 302,212 (28,202)(9.4)% City Utilities Tax 2,991,933 2,991,933 3,322,456 2,799,883 330,523 11.0 % Admissions Tax 363,609 363,609 325,560 344,697 (38,049)(10.5)% Electric Tax 3,340,500 3,340,500 3,297,976 3,151,923 (42,524)(1.3)% Natural Gas Tax 1,201,900 1,201,900 1,037,315 1,113,400 (164,585)(13.7)% Cable TV Franchise Fee 808,000 808,000 854,447 812,228 46,447 5.7 % Cable TV Franchise Fee - Capital 62,000 62,000 62,701 62,871 701 1.1 % Telephone Tax 2,032,574 2,032,574 1,781,307 1,995,453 (251,267)(12.4)% Garbage Tax (external)151,504 151,504 101,084 111,755 (50,420)(33.3)% Leasehold Excise Tax 50,501 50,501 37,215 39,262 (13,286)(26.3)% Gambling Excise Tax 247,965 247,965 257,284 261,703 9,319 3.8 % Taxes sub-total 40,169,373 40,169,373 41,411,802 39,845,317 1,242,429 3.1 % Business License Fees 202,005 202,005 236,162 231,957 34,157 16.9 % Building Permits 1,899,966 1,899,966 2,101,174 1,683,465 201,208 10.6 % Other Licenses & Permits 454,413 454,413 704,612 429,221 250,199 55.1 % Intergovernmental (Grants, etc.) - (1)4,831,660 4,831,660 4,818,360 5,745,342 (13,300)(0.3)% Charges for Services: General Government Services 94,467 94,467 106,073 119,564 11,606 12.3 % Public Safety 17,300 17,300 21,905 206,248 4,605 26.6 % Development Services Fees 963,458 963,458 1,131,931 1,229,896 168,473 17.5 % Culture and Recreation 809,717 809,717 875,434 869,436 65,717 8.1 % Fines and Forfeits 1,556,500 1,556,500 1,424,524 1,577,092 (131,976)(8.5)% Fees/Charges/Fines sub-total 10,829,486 10,829,486 11,420,176 12,092,221 590,690 5.5 % Interests and Other Earnings 64,900 64,900 45,977 89,805 (18,923)(29.2)% Rents, Leases and Concessions 308,000 308,000 284,178 326,095 (23,822)(7.7)% Contributions and Donations 41,000 41,000 58,904 50,720 17,904 43.7 % Other Miscellaneous 92,200 92,200 71,964 119,754 (20,236)(21.9)% Transfers In 267,000 267,000 193,548 17,000 (73,452)(27.5)% Insurance Recoveries - Capital & Operating 87,322 87,322 192,898 291,210 105,576 120.9 % Other Revenues sub-total 860,422 860,422 847,470 894,583 (12,952)(1.5)% Total Operating Revenues 51,859,281 51,859,281 53,679,448 52,832,121 1,820,167 3.5 % Operating Expenditures Council & Mayor 1,020,763 1,020,763 1,017,725 910,566 3,038 0.3 % Municipal Court & Probation 682,424 682,424 620,637 3,143,612 61,787 9.1 % Human Resources 1,608,800 1,608,800 1,433,186 859,684 175,614 10.9 % Finance 1,315,344 1,315,344 1,144,160 1,144,458 171,184 13.0 % City Attorney 1,836,346 1,836,346 1,838,651 1,629,698 (2,305)(0.1)% Planning 4,019,715 4,019,715 3,869,868 3,852,992 149,847 3.7 % Community & Human Services 1,272,580 1,272,580 897,919 938,355 374,661 29.4 % Jail - SCORE 7,046,419 7,046,419 7,049,120 3,541,408 (2,701)(0.0)% Police 20,151,597 20,151,597 19,202,081 18,161,146 949,516 4.7 % Engineering 2,957,175 2,957,175 2,728,726 2,526,526 228,449 7.7 % Parks and Recreation 8,138,564 8,138,564 8,135,678 7,326,660 2,886 0.0 % Streets 3,273,353 3,273,353 2,915,619 3,063,820 357,734 10.9 % Non-Departmental 4,962,768 4,962,768 3,932,947 5,762,410 1,029,821 20.8 % Total Operating Expenditures 58,285,849 58,285,849 54,786,316 52,861,336 3,499,532 6.0 % 2013 2013 YTD Budget vs. Actual Favorable (Unfavorable) Percentage 3 Monthly Financial Report December 2013 Overview This financial overview reflects the City’s overall financial position for the fiscal period ending December 31, 2013 (period 12) and represents financial data available as of February 4, 2014. The budgeted revenues and operating expenditures are primarily based on the collection/disbursement average for the same period of the two years prior. General Fund revenues through December 2013 totaled $53.7 million and compares to previous year collections of $52.8 million and year-end budget of $51.9 million. Some highlights this year include: - Tax revenues totaled $41.4 million and were $1.2 million above budget. - Sales taxes totaled $12.4 million were $739,000 above budget. - Revenue from Fees/Charges/Fines totaled $11.4 million and was $591,000 above budget due to stronger than budgeted revenues from development activity. General Fund expenditures for the year totaled $54.8 million and compares to previous year expenditures of $52.9 million and year-end budget of $58.3 million. 2013 expenditures reflect a one time transfer of $2.0 million to the Cumulative Reserve Fund and a year over year increase in payments to SCORE, which includes the debt service principal payment effective in 2013. Overall departmental spending is $3.5 million - or 6.0% under budget due to staff vacancies, underspend of contingency funds, and continued vigilance in monitoring general spending. Ending 2013 fund balances will not be finalized until approximately June 2014 pending final year-end adjustments and certification by the State Auditor. Once the final ending 2013 fund balances are available, budgeted beginning 2014 fund balances will be reconciled and adjusted accordingly. 4 Monthly Financial Report December 2013 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 in 2013 totaled $14.4 million and exceeds budget by $116,000, and compares to collections $14.9 million for the same period the previous year, after adjusting for transfers to the Local Street Fund (SOS) program1. The majority of property tax revenues are collected during the months of April and October, coinciding with the due date for the County property tax billings. * Per 2013-2014 budget, Local Street Fund (Fund 103) street repairs are funded from sales taxes on construction. 1 In 2012, property taxes for the year totaled $14,866,488. Of this amount, $12,866,488 was distributed to the General Fund and $2,000,000 was distributed to the Local Street Fund (Fund 103). $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 Dec Mi l l i o n s Property Taxes 2013 budget 2013 actual to date 2012 actual 5 Monthly Financial Report December 2013 Sales tax distributions Citywide totaled $14.4 million of which $12.4 million was distributed to the General Fund and $1.9 million to the Local Street Fund (SOS) program.* * Per 2013-2014 budget, Local Street Fund (Fund 103) street repairs are funded from sales taxes on construction. Total transferred in 2013 was $1,942,720. The graphic above presents sales taxes under the current policy. 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. Note: 2012 actuals for the Manufacturing sector include an adjustment of -$74,000 by the State Department of Revenue as a result of an audit. $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s Sales & Use Tax (Net of Revenue from Construction) 2013 budget 2013 actual to date 2012 actual 2012 2013 Component Group Actual Actual Amount Construction 1,221,212 1,942,720 721,508 59.1 % Manufacturing 404,712 624,385 219,673 54.3 % Transportation & Warehousing 54,952 45,696 (9,256)(16.8)% Wholesale Trade 1,296,718 1,279,407 (17,311)(1.3)% Automotive 3,018,627 3,135,559 116,932 3.9 % Retail Trade 3,923,913 4,218,570 294,657 7.5 % Services 3,056,492 3,054,283 (2,209)(0.1)% Miscellaneous 60,699 63,580 2,880 4.7 % YE Total 13,037,326 14,364,200 1,326,875 10.2 % Change from 2012 December-2013 Comparison of Sales Tax Collections by SIC Group Percentage 6 Monthly Financial Report December 2013 As shown on the prior page, the areas showing the largest amount of increase in revenues compared to 2012 are in the construction trade and the retail trade categories. These changes reflect the increased level of construction activity within the City as well as improvement in general economic conditions and consumer spending. In general, consumer spending accounts for approximately two-thirds of economic activity. Total 2013 sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103) for local street repair and maintenance, totaled $1,942,720 and exceeds budget by $468,000 reflecting increased commercial and residential construction activity throughout the City. $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 Dec Mi l l i o n s Sales Tax on Construction Transfer 2013 budget 2013 actual to date 7 Monthly Financial Report December 2013 Utility Taxes consists of City interfund utility taxes (Water, Sewer, Storm and Solid Waste) and external utility taxes (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes collected in 2013 were $9.5 million and compare to $9.2 million collected the same period last year. As shown in the table below, increased collections from City interfund utilities partially offset lower than expected collections from private utility providers. A mild winter has reduced consumer heating demands and resulted in a decline in electric and natural gas revenue collections. Earlier this year, the Washington Utilities and Transportation Commission approved a rate decrease for natural gas - which reduced the residential rates by approximately 7% and commercial rates by approximately 10%. This rate decrease was a result of an abundant domestic supply of natural gas. Telephone utility tax revenues ended the year $251,000 under budget, reflecting the timing of payments from carriers and the rapid change in this industry as more individuals move from traditional land lines to cellular and internet-based phone services. $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 Dec Mi l l i o n s Utility Tax 2013 budget 2013 actual to date 2012 actual 2012 2013 2013 Month Actual Budget Actual Amount Amount City Interfund Utility Taxes 2,799,883 2,991,933 3,322,456 522,574 18.7 %330,523 11.0 % Electric 3,151,923 3,340,500 3,297,976 146,053 4.6 %(42,524)(1.3)% Natural Gas 1,113,400 1,201,900 1,037,315 (76,085)(6.8)%(164,585)(13.7)% Telephone 1,995,453 2,032,574 1,781,307 (214,146)(10.7)%(251,267)(12.4)% Solid Waste (external)111,755 151,504 101,084 (10,671)(9.5)%(50,420)(33.3)% YE Total 9,172,414 9,718,411 9,540,139 367,725 4.0 %(178,272)(1.8)% December-2013 Utility Tax by Type 2013 vs. 2012 Actual 2013 vs. Budget Percentage Percentage 8 Monthly Financial Report December 2013 Cable TV Franchise Fees, which are collected quarterly, totaled $855,000 and exceeds budget by $46,000 or 5.7%. 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. Building permit revenues collected in 2013 totaled $2.1 million and exceeded both budget and prior year levels of $1.9 million and $1.7 million respectively. 2013 included permitting for several large commercial projects including the Auburn High School Modernization project, various projects at Boeing, the remodel of The Outlet Collection – Seattle, as well as numerous housing developments – most notably The Ridge at Bowman Creek, Lakeland East, Auburn 40 PUD and Kendall Ridge. Of the $2.1 million in building permit revenues collected in 2013, 40% of this revenue is attributed to commercial projects in the City and the remaining 60% is predominately single family housing permits. Total building permits issued through December totaled 934, and compares to 923 building permits issued in 2012. $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Th o u s a n d s Cable TV Franchise Fee 2013 budget 2013 actual to date 2012 actual 9 Monthly Financial Report December 2013 Business License revenues collected in 2013 totaled $236,000 and exceeded budget by $34,000, or 17%. The graphic below reflects the timing of payments by business owners, where the majority of business license payments are collected during the first two months of the year and the last month of the year. $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 $2.2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s Building Permits 2013 budget 2013 actual to date 2012 actual $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 $240 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Business Licenses 2013 budget 2013 actual to date 2012 actual 10 Monthly Financial Report December 2013 Intergovernmental includes Grants (Direct & Indirect Federal, State and Local), state shared revenues and compact revenue from the Muckleshoot Indian Tribe (MIT). Collections through December total $4.8 million and are in line with expectations. State shared revenue includes Streamlined Sales Tax Mitigation payments in the amount of $1,952,778 in 2013. Charges for Services consists of general governmental services, public safety, development service fees and cultural & recreation fees. Overall, charges for services exceed year-end budget by $250,000, or 13.3%. Development service fees and culture and recreation fees make up over 90% of the revenue within this category. Development service fee collections, which primarily consist of plan check fees, exceed budget by $168,000 for the year. Total plan check fees collected in 2013 totaled $823,000 and includes plan check fees for numerous projects around the City including various projects at Boeing, the remodel of The Outlet Collection – Seattle, and the Trades Building at Green River Community College. In addition, some of the single family housing projects include Kendall Ridge, Vista Pointe, Edgeview and Brandon Meadows. The year over year decline in development service fees reflect plan check fees for the Auburn High School Modernization project and the Boeing re-roofing project - both of which were received in 2012. Culture and recreation revenues are $66,000 higher than budget; reflecting increased activity from recreational classes and City special events. The year over year decline in Public Safety charges reflect the elimination of Adult Probation revenue (these revenues are retained by King County under the City-King County District Court contract). 2012 2013 2013 Revenue Actual Budget Actual Amount Amount Federal Grants 626,245 151,432 94,957 (531,287)(84.8)%(56,475)(37.3)% State Grants 162,001 174,288 162,548 547 0.3 %(11,740)(6.7)% Interlocal Grants 44,852 85,744 85,744 40,892 91.2 %0 0.0 % State Shared Revenue 4,181,771 3,847,196 3,879,984 (301,787)(7.2)%32,788 0.9 % Muckleshoot Casino Emerg.711,063 565,000 564,895 (146,168)(20.6)%(105)(0.0)% Intergovernmental Service 19,411 8,000 30,232 10,822 55.8 %22,232 277.9 % YE Total 5,745,342 4,831,660 4,818,360 (926,982)(16.1)%(13,300)(0.3)% December-2013 Intergovernmental 2013 vs. 2012 Actual 2013 vs. Budget % Change % Change 2012 2013 2013 Revenue Actual Budget Actual Amount Amount General Government 119,564 94,467 106,073 (13,491)(11.3)%11,606 12.3 % Public Safety 206,248 17,300 21,905 (184,342)(89.4)%4,605 26.6 % Development Services 1,229,896 963,458 1,131,931 (97,965)(8.0)%168,473 17.5 % Culture & Recreation 869,436 809,717 875,434 5,998 0.7 %65,717 8.1 % YE Total 2,425,144 1,884,942 2,135,343 (289,801)(11.9)%250,401 13.3 % December-2013 Charges for Services by Type 2013 vs. 2012 Actual 2013 vs. Budget Percentage Percentage 11 Monthly Financial Report December 2013 Note: August 2012 collections include plan check fees related to the Boeing re-roofing project as well as fees paid by the Auburn School District for the Auburn High School modernization and reconstruction project. [Source: August 2012 monthly financial report] $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s Development Service Fees 2013 budget 2013 actual to date 2012 actual $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Culture & Recreation 2013 budget 2013 actual to date 2012 actual 12 Monthly Financial Report December 2013 Fines & Penalties include traffic and parking infraction penalties, Redflex photo enforcement violations, criminal fines (including criminal traffic, criminal non traffic and criminal costs) as well as non court fines such as false alarm and shopping cart fines. Total revenue collected in 2013 totaled $1.4 million and compares to $1.6 million collected the year prior. Civil Infraction Penalties include traffic infractions and other non-parking infractions. The majority of the revenues collected in this category relate to traffic infractions. A total of $441,000 has been collected in traffic infractions in 2013, and compares to $593,000 collected the year prior. 2012 2013 2013 Month Actual Budget Actual Amount Amount Civil Penalties 16,644 15,000 18,506 1,862 11.2 %3,506 23.4 % Civil Infraction Penalties 598,201 653,500 446,650 (151,552)(25.3)%(206,850)(31.7)% Redflex Photo Enforcement 595,247 495,000 599,772 4,526 0.8 %104,772 21.2 % Parking Infractions 109,691 170,000 116,783 7,092 6.5 %(53,217)(31.3)% Criminal Traffic Misdemeanor 90,140 82,000 55,303 (34,838)(38.6)%(26,697)(32.6)% Criminal Non-Traffic Fines 86,856 90,000 58,029 (28,827)(33.2)%(31,971)(35.5)% Criminal Costs 15,500 13,000 30,477 14,977 96.6 %17,477 134.4 % Non-Court Fines & Penalties 64,813 38,000 99,004 34,192 52.8 %61,004 160.5 % YE Total 1,577,092 1,556,500 1,424,524 (152,568)(9.7)%(131,976)(8.5)% December-2013 Fines & Forfeits by Type 2013 vs. 2012 Actual 2013 vs. Budget Percentage Percentage $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s Fines & Penalties 2013 budget 2013 actual to date 2012 actual 13 Monthly Financial Report December 2013 Miscellaneous revenues primarily consist of income from facility rentals; other sources within this category include investment earnings, contributions & donations and other miscellaneous income. Revenues in this category totaled $461,000, compared to budget of $506,000. Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund and is used for governmental capital projects. 2013 REET revenue totaled $2.2 million and exceeds budget and prior year actual by $833,000, and $466,000 respectively. The increase in REET revenues is a sign of economic recovery, and is a result of increased real estate sales within the City. $0 $100 $200 $300 $400 $500 $600 $700 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Redflex Photo Enforcement 2013 budget 2013 actual to date 2012 actual 2012 2013 2013 Month Actual Budget Actual Amount Amount Interest & Investments 89,805 64,900 45,977 (43,828)(48.8)%(18,923)(29.2)% Rents & Leases 326,095 308,000 284,178 (41,916)(12.9)%(23,822)(7.7)% Contributions & Donations 50,720 41,000 58,904 8,185 16.1 %17,904 43.7 % Other Miscellaneous Revenue 119,754 92,200 71,964 (47,790)(39.9)%(20,236)(21.9)% YE Total 586,373 506,100 461,024 (125,349)(21.4)%(45,076)(8.9)% Miscellaneous Revenues by Type December-2013 2013 vs. 2012 2013 vs. Budget Percentage Percentage 14 Monthly Financial Report December 2013 Note: October 2012 revenue increase reflected in the graphic above was due in part to the sale of the Auburn Regional Medical Center to Multicare. 2012 2013 2013 Month Actual Budget Actual Amount Amount Jan 61,442 71,106 113,615 52,172 84.9 %42,509 59.8 % Feb 155,948 85,002 107,485 (48,464)(31.1)%22,483 26.5 % Mar 136,790 159,420 143,198 6,408 4.7 %(16,222)(10.2)% Apr 73,078 72,572 124,445 51,367 70.3 %51,873 71.5 % May 92,568 124,286 162,750 70,183 75.8 %38,464 30.9 % Jun 96,292 99,944 177,380 81,087 84.2 %77,435 77.5 % Jul 152,249 177,428 267,976 115,728 76.0 %90,548 51.0 % Aug 119,924 90,202 200,627 80,702 67.3 %110,425 122.4 % Sep 112,407 75,348 183,507 71,100 63.3 %108,158 143.5 % Oct 482,981 219,270 261,388 (221,593)(45.9)%42,118 19.2 % Nov 108,095 112,080 287,776 179,680 166.2 %175,695 156.8 % Dec 174,868 113,340 202,388 27,519 15.7 %89,047 78.6 % YTD Total 1,766,642 1,400,000 2,232,533 465,891 26.4 %832,533 59.5 % Percentage 2013 vs. 2012 2013 vs. Budget Percentage Real Estate Excise Tax Revenues December-2013 $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 $2.2 $2.4 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s Real Estate Excise Tax 2013 budget 2013 actual to date 2012 actual 15 Monthly Financial Report December 2013 Pet Licensing During the month of December, 397 pet licenses were sold resulting in $11,200 in revenue. Revenues in 2013 total $154,475, surpassing the 2013 budget goal of $96,000. During the same month in 2012, 519 licenses were sold, resulting in $14,830 in revenue to King County. 2013 Budget Goal: $ 96,000 or more 2014 Budget Goal: $240,000 or more 2013 Revenue = $154,475 2013 Licenses Sold = 5,093 2012 Licenses Sold = 6,786 as reported by King County 0 100 200 300 400 500 600 700 800 900 1000 Ja n Fe b Ma r Ap r Ma y Ju n Ju l Au g Se p Oc t No v De c Nu m b e r o f L i c e n s e s S o l d Month Pet License Sales By Month 2013 vs 2012 2013 Licenses Sold 2012 Licenses Sold $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 Ja n Fe b Ma r Ap r Ma y Ju n Ju l Au g Se p Oc t No v De c Li c e n s e R e v e n u e Month Pet Licensing Revenue By Month 2013 2013 License Revenue 16 Monthly Financial Report December 2013 Enterprise Funds The detailed Working Capital and Fund Balance statements for Enterprise and Internal Service funds can be found in the Appendix at the end of this Report. The Water Utility’s net operating income decreased from $968,200 in 2012 to $594,200 in 2013, primarily reflecting the effects of the cost of purchased water through Tacoma Public Utilities. The Sewer Utility ended the period with a $640,200 net operating loss and compares to a $1,032,400 net loss for the same period in 2012 (excluding Metro wastewater treatment revenues and expenditures, which are now being tracked separately in the Sewer-Metro fund). The Sewer-Metro Utility ended December with net operating income of $249,700. 0 2,000 4,000 6,000 8,000 10,000 12,000 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 Ja n Fe b Ma r Ap r Ma y Ju n Ju l Au g Se p Oc t No v De c Nu m b e r o f L i c e n s e s S o l d Li c e n s e R e v e n u e Month Cumulative Pet Licensing Revenue & Sales 2013 vs 2012 2013 License Revenue (L) 2013 License Revenue(Budget Goal: $96,000) 2013 Licenses Sold (R) 2012 Licenses Sold (R) $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Water Revenues vs Water Sold 2013 vs 2012 2012 Water Sales ($) 2013 Water Sales ($) 2012 Water Sold (ccf) 2013 Water Sold (ccf) 17 Monthly Financial Report December 2013 The Stormwater Utility ended the period with $864,900 in net operating income which compares to an operating loss of $457,500 for the same period last year. The number of rounds played at the Auburn Golf Course (AGC) in December totaled 1,019 as compared to 872 for the same period last year, reflecting a much dryer month than in 2012. Rounds played in 2013 total 47,480 versus 45,704 rounds in 2012. The AGC ended December with a net operating loss of $317,500 compared to a loss of $365,000 for the same period last year. $0 $50 $100 $150 $200 $250 $300 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Golf Course Operating Revenues & Expenditures By Month 2013 vs 2012 2013 Bud. Revenue 2013 Act. Revenue 2012 Act. Revenue 2013 Act. Expenses $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 Th o u s a n d s Cumulative Golf Course Revenues & Expenditures 2013 vs 2012 2013 Bud. Revenue 2013 Act. Revenue 2012 Act. Revenue 2013 Act. Expenses 18 Monthly Financial Report December 2013 The Cemetery Fund ended December with operating income of $44,900 compared to a $170,700 net operating loss for the same period last year which reflects a decline in Cemetery operating expenditures and an increase in operating revenue. In December, the number of interments at the Cemetery totaled 22 (16 burials, 6 cremations) which compares to 16 (7 burials, 9 cremations) for the same period last year. Interments in 2013 totaled 226 (113 burials, 113 cremations) compared to 251 (110 burials, 141 cremations) in 2012. $0 $20 $40 $60 $80 $100 $120 $140 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Cemetery Operating Revenues & Expenditures By Month 2013 vs 2012 2013 Bud. Revenue 2013 Act. Revenue 2012 Act. Revenue 2013 Act. Expenses $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Th o u s a n d s Cumulative Cemetery Revenues & Expenditures 2013 vs 2012 2013 Bud. Revenue 2013 Act. Revenue 2012 Act. Revenue 2013 Act. Expenses 19 Monthly Financial Report December 2013 Internal Service Funds Operating expenditures within the Insurance Fund represents the premium cost-pool that will be allocated monthly to other City funds over the course of 2013. As a result, this balance will gradually diminish each month throughout the year. No significant variances are reported in the Facilities, Innovation & Technology, or Equipment Rental Funds. All funds have sufficient revenues to cover year-to-date expenditures. Contact Information This report is prepared by the Finance Department. Additional financial information can also be viewed at our website: http://www.auburnwa.gov/. For any questions about the report please contact us at mchaw@auburnwa.gov or scoleman@auburnwa.gov. 20 Investment Purchase Purchase Maturity Yield to Type Date Price Date Maturity State Investment Pool Various 97,392,182$ Various 0.13% KeyBank Money Market Various 11,338,548 Various 0.15% US Treasury 05/04/1990 57,750 05/15/2016 5.72% FFCB 4/11/2013 3,000,000 4/11/2016 0.43% FNMA 9/6/2013 1,000,000 9/6/2016 1.00% LAKUTL 9/25/2013 235,919 11/1/2017 1.90% Total Cash & Investments 113,024,398$ 0.152% Investment Mix % of Total State Investment Pool 86.2%Current 6-month treasury rate 0.10% KeyBank Money Market 10.0%Current State Pool rate 0.13% US Treasury 0.1%KeyBank Money Market 0.15%FFCB 2.7%Blended Auburn rate 0.15% FHLMC 0.0% FNMA 0.9% LAKUTL 0.2% 100.0% City of Auburn Investment Portfolio Summary December 31, 2013 Summary 21 SALES TAX SUMMARY DECEMBER 2013 SALES TAX DISTRIBUTIONS (FOR OCTOBER 2013 RETAIL ACTIVITY) 2012 Annual Total 2012 YTD 2013 YTD YTD 2012 Annual Total 2012 YTD 2013 YTD YTD NAICS CONSTRUCTION (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff NAICS AUTOMOTIVE (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 236 Construction of Buildings 483,409 483,409 949,102 96.3%441 Motor Vehicle and Parts Dealer 2,795,164 2,795,164 2,899,545 3.7% 237 Heavy and Civil Construction 114,823 114,823 166,874 45.3%447 Gasoline Stations 223,463 223,463 236,015 5.6% 238 Specialty Trade Contractors 622,980 622,980 826,744 32.7%TOTAL AUTOMOTIVE 3,018,627 3,018,627 3,135,559 3.9% TOTAL CONSTRUCTION 1,221,212 1,221,212 1,942,720 59.1%Overall Change from Previous Year 116,932 Overall Change from Previous Year 721,508 2012 Annual Total 2012 YTD 2013 YTD YTD 2012 Annual Total 2012 YTD 2013 YTD YTD NAICS RETAIL TRADE (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff NAICS MANUFACTURING (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 442 Furniture and Home Furnishings 226,309 226,309 235,036 3.9% 311 Food Manufacturing 2,932 2,932 1,836 -37.4%443 Electronics and Appliances 145,391 145,391 173,552 19.4% 312 Beverage and Tobacco Products 5,855 5,855 7,670 31.0%444 Building Material and Garden 425,494 425,494 446,976 5.0% 313 Textile Mills 570 570 272 -52.2%445 Food and Beverage Stores 341,379 341,379 335,409 -1.7% 314 Textile Product Mills 4,457 4,457 3,435 -22.9%446 Health and Personal Care Store 148,812 148,812 173,874 16.8% 315 Apparel Manufacturing 218 218 280 28.6%448 Clothing and Accessories 772,153 772,153 889,410 15.2% 316 Leather and Allied Products 59 59 11 -80.5%451 Sporting Goods, Hobby, Books 120,507 120,507 125,040 3.8% 321 Wood Product Manufacturing 31,417 31,417 72,780 131.7%452 General Merchandise Stores 967,039 967,039 974,130 0.7% 322 Paper Manufacturing 3,944 3,944 3,442 -12.7%453 Miscellaneous Store Retailers 508,326 508,326 548,688 7.9% 323 Printing and Related Support 28,275 28,275 26,277 -7.1%454 Nonstore Retailers 268,503 268,503 316,455 17.9% 324 Petroleum and Coal Products 10,532 10,532 9,762 -7.3%TOTAL RETAIL TRADE 3,923,913 3,923,913 4,218,570 7.5% 325 Chemical Manufacturing 8,089 8,089 8,995 11.2%Overall Change from Previous Year 294,657 326 Plastics and Rubber Products 9,469 9,469 9,566 1.0% 327 Nonmetallic Mineral Products 17,324 17,324 20,455 18.1% 331 Primary Metal Manufacturing 1,766 1,766 717 -59.4%2012 Annual Total 2012 YTD 2013 YTD YTD 332 Fabricated Metal Product Manuf 24,965 24,965 13,135 d -47.4%NAICS SERVICES (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 333 Machinery Manufacturing 12,890 12,890 25,232 95.7%51*Information 396,353 396,353 445,827 12.5% 334 Computer and Electronic Produc 10,260 10,260 13,545 32.0%52*Finance and Insurance 53,291 53,291 b 91,439 71.6% 335 Electric Equipment, Appliances 426 426 1,251 193.4%53*Real Estate, Rental, Leasing 326,259 326,259 278,919 -14.5% 336 Transportation Equipment Man 187,175 187,175 a 350,172 87.1%541 Professional, Scientific, Tech 173,274 173,274 183,904 6.1% 337 Furniture and Related Products 18,721 18,721 24,852 32.7%551 Company Management 16 16 76 381.6% 339 Miscellaneous Manufacturing 25,368 25,368 30,699 21.0%56*Admin. Supp., Remed Svcs 334,354 334,354 336,269 0.6% TOTAL MANUFACTURING 404,712 404,712 624,385 54.3%611 Educational Services 53,672 53,672 50,183 -6.5% Overall Change from Previous Year 219,673 62*Health Care Social Assistance 114,833 114,833 32,608 -71.6% 71*Arts and Entertainment 153,417 153,417 148,530 -3.2% 72*Accomodation and Food Svcs 920,556 920,556 979,254 6.4%2012 Annual Total 2012 YTD 2013 YTD YTD 81*Other Services 388,279 388,279 394,645 1.6%NAICS TRANSPORTATION AND WAREHOUSING (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 92*Public Administration 142,188 142,188 112,629 -20.8% 481 Air Transportation 0 0 0 N/A TOTAL SERVICES 3,056,492 3,056,492 3,054,283 -0.1% 482 Rail Transportation 19,182 19,182 9,552 -50.2%Overall Change from Previous Year -2,209 484 Truck Transportation 10,245 10,245 -3,489 c -134.1% 485 Transit and Ground Passengers 268 268 93 -65.3% 488 Transportation Support 18,841 18,841 27,757 47.3%2012 Annual Total 2012 YTD 2013 YTD YTD 491 Postal Service 470 470 863 83.6%NAICS MISCELLANEOUS (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 492 Couriers and Messengers 568 568 1,272 123.8%000 Unknown 1 1 0 -100.0% 493 Warehousing and Storage 5,376 5,376 9,648 79.5%111-115 Agriculture, Forestry, Fishing 2,868 2,868 4,385 52.9% TOTAL TRANSPORTATION 54,952 54,952 45,696 -16.8%211-221 Mining & Utilities 30,229 30,229 22,645 -25.1% Overall Change from Previous Year -9,256 999 Unclassifiable Establishments 27,601 27,601 36,549 32.4% TOTAL SERVICES 60,699 60,699 63,580 4.7% Overall Change from Previous Year 2,880 2012 Annual Total 2012 YTD 2013 YTD YTDNAICSWHOLESALE TRADE (Nov '11-Oct '12)(Nov '11 - Oct '12)(Nov '12 - Oct '13)% Diff 423 Wholesale Trade, Durable Goods 1,137,932 1,137,932 1,111,249 -2.3%GRAND TOTAL 13,037,326 13,037,326 14,364,200 424 Wholesale Trade, Nondurable 153,721 153,721 163,774 6.5%Overall Change from Previous Year 1,326,875 10.2% 425 Wholesale Electronic Markets 5,065 5,065 4,384 -13.4% TOTAL WHOLESALE 1,296,718 1,296,718 1,279,407 -1.3% Overall Change from Previous Year -17,311 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). c. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Jan 2013 (adjustment: -$11,382). d. Wa. State Dept of Revenue audit adjustment to sales tax returns for period May 2013 (adjustment - $30,493). 01/06/14 file:Monthly Sales Tax Report.xls Prepared by Auburn Finance Department 22 INNOVATION EQUIPMENT & TECHNOLOGY RENTAL OPERATING REVENUES Charges For Service 11,636,459 6,805,547 - 8,150,809 12,945,759 15,481 943,646 1,032,953 - - - - Interfund Charges For Service - - - - - - - - - 3,507,467 4,835,649 2,982,367 Sewer Metro Service Revenue - - 14,734,959 - - - - - - - - - Rents, Leases, Concessions, & Other - - - - - 616,836 - 421,984 - 121,155 80,641 - TOTAL OPERATING REVENUES 11,636,459 6,805,547 14,734,959 8,150,809 12,945,759 632,317 943,646 1,454,937 - 3,628,622 4,916,290 2,982,367 OPERATING EXPENSES Salaries & Wages 2,318,264 1,520,127 - 2,032,858 389,458 20,584 384,220 587,205 - 614,406 1,382,496 474,683 Benefits 1,048,129 671,879 - 891,172 180,071 6,698 191,257 288,915 - 275,758 572,067 212,179 Supplies 195,250 70,440 - 78,647 42,433 286 143,864 259,397 - 114,037 321,587 808,480 Other Service Charges 4,068,351 2,288,601 10 1,407,356 1,104,842 451,580 65,528 167,952 215,151 1,484,253 1,470,970 448,828 Intergovernmental Services - 4,192 - 22,598 413,217 - - - - - - - Waste Management Payments - - - - 10,191,295 - - - - - - - Sewer Metro Services - - 14,485,231 - - - - - - - - - Interfund Operating Rentals & Supplies 1,122,959 1,004,409 - 1,323,546 183,595 - 56,196 164,496 - 119,208 301,704 247,611 Other Expenses - - - - - - - - - - - - Depreciation & Amortization 2,289,289 1,886,057 - 1,529,701 18,819 403,105 57,683 304,519 - - 467,317 697,048 TOTAL OPERATING EXPENSES 11,042,241 7,445,706 14,485,241 7,285,877 12,523,730 882,252 898,748 1,772,484 215,151 2,607,663 4,516,142 2,888,829 OPERATING INCOME (LOSS)594,219 (640,159) 249,717 864,932 422,030 (249,935) 44,898 (317,547) (215,151) 1,020,959 400,148 93,538 NON-OPERATING REVENUES & EXPENSES Interest Revenue 24,744 20,357 87 24,079 1,348 1,545 400 658 2,200 2,801 5,071 8,900 Contributions - - - 69,770 27,735 - 100 - - 56,270 - - Other Non-Operating Revenue 214,324 180,381 - 63,563 1,943 2,175 577 - - 160,851 23,581 38,531 Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - (10,859) Debt Service Interest (242,693) (19,100) - (157,208) - (46,275) (22,267) (438) - - - - Other Non-Operating Expense - - - - - - - - - - - - TOTAL NON-OPERATING REVENUES & EXPENSES (3,625) 181,639 87 205 31,026 (42,555) (21,190) 221 2,200 219,922 28,652 36,573 PLUS ITEMS NOT EFFECTING WORKING CAPITAL Depreciation 2,289,289 1,886,057 - 1,529,701 18,819 403,105 57,683 304,519 - - 467,317 697,048 NET WORKING CAPITAL FROM OPERATIONS 2,879,882 1,427,537 249,804 2,394,837 471,874 110,615 81,391 (12,807) (212,950) 1,240,881 896,118 827,159 Increase In Contributions - System Development 1 599,504 2,390,237 - 660,846 - - - - - - - - Increase In Contributions - Area Assessments 224 3,243 - - - - - - - - - - Increase In Contributions - Other Governments - - - - - 108,745 - - - - - - Increase In Contributions - Other Funds - - - - - - - - - - - - Increase In Contributions - FAA - - - - - - - - - - - - Proceeds of Debt Activity 8,755,680 - - 5,235,686 - - - - - - - - Operating Transfers In - - - - - - - 51,646 - - 104,250 104,250 Increase In Restricted Net Assets 13,022 4,060 - - - 4,289 - - - - - - Decrease In Long-Term Receivables - 112,500 - - - - - - - - - - Increase In Deferred Credits - - - - - 3,396 - - - - - - TOTAL RESOURCES OTHER THAN OPERATIONS 9,368,430 2,510,039 - 5,896,532 - 116,430 - 51,646 - - 104,250 104,250 Net Change In Restricted Net Assets 1,700,149 1,885,649 (1,460,182) 796,326 - (110,711) - (20,206) - 725 - (34,660) Increase In Fixed Assets - Salaries 221,970 71,588 - 160,384 - - - - - - - - Increase In Fixed Assets - Benefits 87,633 29,790 - 65,331 - - - - - - - - Increase In Fixed Assets - Site Improvements 43,519 - - 11,782 - - - - - - - 8,471 Increase In Fixed Assets - Equipment - 64,733 - 17,960 - - - - - - 475,773 543,336 Increase In Fixed Assets - Construction 5,359,316 541,475 - 1,561,074 - 200,222 - - - - - 36,105 Operating Transfers Out 50,000 50,000 - 124,000 - - - - - 736,685 - 7,000 Debt Service Principal 629,868 288,262 - 140,700 - 115,000 - - - - - - TOTAL USES OTHER THAN OPERATIONS 8,092,455 2,931,497 (1,460,182) 2,877,558 - 204,511 - (20,206) - 737,410 475,773 560,253 NET CHANGE IN WORKING CAPITAL 4,155,857 1,006,080 1,709,987 5,413,811 471,874 22,534 81,391 59,044 (212,950) 503,471 524,595 371,156 BEGINNING WORKING CAPITAL - January 1, 2013 10,196,281 12,072,579 - 10,218,848 1,018,487 818,912 182,098 90,692 2,028,681 1,473,041 2,885,527 5,559,565 ENDING WORKING CAPITAL - December 31, 2013 14,352,138 13,078,659 1,709,987 15,632,659 1,490,362 841,446 263,490 149,736 1,815,731 1,976,512 3,410,122 5,930,721 NET CHANGE IN WORKING CAPITAL 4,155,857 1,006,080 1,709,987 5,413,811 471,874 22,534 81,391 59,044 (212,950) 503,471 524,595 371,156 ENTERPRISE FUNDS INTERNAL SERVICE FUNDSWORKING CAPITAL The following table presents the Working Capital Statement for each of the City's Enterprise and Internal Service funds. Working Capital is generally defined as the difference between current assets and current liabilities. CEMETERY GOLF INSURANCE FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT 23 INNOVATION EQUIPMENT & TECHNOLOGY RENTAL OPERATING REVENUES Charges For Service 11,636,459 6,805,547 - 8,150,809 12,945,759 15,481 943,646 1,032,953 - - - - Interfund Charges For Service - - - - - - - - - 3,507,467 4,835,649 2,982,367 Sewer Metro Service Revenue - - 14,734,959 - - - - - - - - - Rents, Leases, Concessions, & Other - - - - - 616,836 - 421,984 - 121,155 80,641 - TOTAL OPERATING REVENUES 11,636,459 6,805,547 14,734,959 8,150,809 12,945,759 632,317 943,646 1,454,937 - 3,628,622 4,916,290 2,982,367 OPERATING EXPENSES Administration 2,931,630 2,129,627 10 2,902,906 735,098 464,518 234,971 230,594 215,151 - - 874,799 Operations & Maintenance 5,821,323 3,430,022 - 2,853,270 1,578,518 14,630 606,094 1,237,371 - 2,607,663 4,048,825 1,316,982 Waste Management Payments - - - - 10,191,295 - - - - - - - Sewer Metro Services - - 14,485,231 - - - - - - - - - Depreciation & Amortization 2,289,289 1,886,057 - 1,529,701 18,819 403,105 57,683 304,519 - - 467,317 697,048 TOTAL OPERATING EXPENSES 11,042,241 7,445,706 14,485,241 7,285,877 12,523,730 882,252 898,748 1,772,484 215,151 2,607,663 4,516,142 2,888,829 OPERATING INCOME (LOSS)594,219 (640,159) 249,717 864,932 422,030 (249,935) 44,898 (317,547) (215,151) 1,020,959 400,148 93,538 NON-OPERATING REVENUES & EXPENSES Interest Revenue 24,744 20,357 87 24,079 1,348 1,545 400 658 2,200 2,801 5,071 8,900 Other Non-Operating Revenue 214,324 180,381 - 133,333 29,678 2,175 677 - - 217,121 23,581 38,531 Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - (10,859) Other Non-Operating Expense (242,693) (19,100) - (157,208) - (46,275) (22,267) (438) - - - - TOTAL NON-OPERATING REVENUES & EXPENSES (3,625) 181,639 87 205 31,026 (42,555) (21,190) 221 2,200 219,922 28,652 36,573 590,594 (458,520) 249,804 865,136 453,055 (292,490) 23,708 (317,326) (212,950) 1,240,881 428,801 130,111 Contributions 1 599,728 2,393,480 - 660,846 - 108,745 - - - - - - Transfers In - - - - - - - 51,646 - - 104,250 104,250 Transfers Out (50,000) (50,000) - (124,000) - - - - - (736,685) - (7,000) TOTAL CONTRIBUTIONS & TRANSFERS 549,728 2,343,480 - 536,846 - 108,745 - 51,646 - (736,685) 104,250 97,250 CHANGE IN FUND BALANCE 1,140,322 1,884,960 249,804 1,401,982 453,055 (183,745) 23,708 (265,681) (212,950) 504,196 533,051 227,361 BEGINNING FUND BALANCE - January 1, 2013 67,719,034 73,319,311 1,460,182 49,964,488 1,128,442 9,439,263 872,103 8,578,904 2,028,681 1,415,971 4,069,294 10,502,921 ENDING FUND BALANCE - December 31, 2013 68,859,356 75,204,271 1,709,986 51,366,470 1,581,497 9,255,518 895,811 8,313,223 1,815,731 1,920,167 4,602,345 10,730,282 1 Sewer contributions reflect System Development Charges resulting from the Goedecke land swap agreement with the WA Department of Transportation. FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2013 revenues and expenditures by fund. INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS CEMETERY GOLF INSURANCE FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT 24