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AGENDA BILL APPROVAL FORM
Agenda Subject: 3rd Quarter 2015 Financial Report Date: November 16, 2015
Department: Finance
Attachments: Quarterly Financial
Report
Budget Impact: $0
Administrative Recommendation: For discussion only.
Background Summary:
The purpose of the quarterly 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 details can be
found within the attached financial report.
The third quarter status report is based on financial data available as of October 22, 2015 for the period
ending September 30, 2015. Sales tax information represents business activity that occurred through
July 2015.
General Fund:
The General Fund is the City’s largest fund and accounts for the majority of City resources and services,
other than those required by statute to be accounted for in another fund.
Through September 2015, General Fund revenues totaled $42.5 million and exceed the year-to-date
budget of $40.6 million due primarily to increased revenues from sales tax collections, development
services fees, and revenues from culture and recreation activities. Retail sales tax collections through the
third quarter of 2015 exceed budget by $748,000 or 7.4%, and exceed revenues collected for the same
period last year by $617,000. Development services fees collected through Q3-2015 exceeded budget
expectations by $392,000, or 72.4%, due primarily to an increase in plan check revenues. In addition,
culture and recreation revenues exceed budget by $276,000, or 15.7%, primarily due to higher than
anticipated revenues for greens fees at the Auburn Golf Course as well as an increase in revenues for
league fees and charges for classes at the Auburn Avenue Theatre. These favorable increases are
partially offset by lower than budgeted collections for electric and natural gas taxes ($409,000, or 11.1%)
due primarily to a mild winter that reduced customer heating demands.
General Fund expenditures through the third quarter of 2015 totaled $45.6 million compared to a budget
of $48.5 million, and were $2.9 million or 6.0% under budget. Year-to-date General Fund expenditures
through Q3-2015 were $4.8 million or 11.9% higher than the same period last year. The increase in year-
over-year expenditures was attributable to several factors including at $2.8 million transfer to the
Cumulative Reserve Fund to replenish prior withdrawals. Salary and benefit costs increased year-over-
year by $1.0 million, or 4.3% due to lower departmental vacancies compared to the year prior as well as
increased costs associated with health care and pensions. In addition, interfund charges through Q3-
2015 were $890,000 higher than the same period the year prior, primarily from Equipment Rental (due to
the addition of the Golf Course to the General Fund and increased operating, capital construction and
replacement costs) and from Facilities due to several repair and maintenance projects that were
completed on several City buildings in 2015. Lastly, the cost of providing 911 services in 2015 has
increased 30% over the year prior.
Year-to-date, 3,956 pet licenses have been sold resulting in $113,335 in revenue. For the same period in
2014, 4,348 licenses were sold resulting in $114,330 in revenue.
1
Agenda Subject: 3rd Quarter 2015 Financial Report
Date: 11/16/2015
Street Funds:
The City’s three street funds are special revenue funds where the revenue sources and expenditures are
legally restricted. These funds are used for street capital construction projects, local street repair and
arterial street repair and preservation projects. Through Q3-2015, the Arterial Street fund ended the
period with a reduction in fund balance of $1.5M. The Local Street fund ended the period with an
increase in fund balance of $560K, and the Arterial Street Preservation fund ended the period with a
reduction in fund balance of $860K. Due to the timing of capital projects, budgeted expenditures exceed
budgeted revenues in all three funds, resulting in planned reductions to fund balances. Actual year-to-
date results are generally in line with this. Projections for the street funds indicate that all three are likely
to end the year with expenditures significantly below budget.
Enterprise Funds:
The City’s seven enterprise funds account for operations with revenues primarily provided from user fees,
charges or contracts for services.
Through the end of the third quarter, the Water fund had operating income of $1,309,300 compared to
operating income of $1,289,500 in 2014. The Sewer fund ended the quarter with net income of $48,000
compared to income of $98,900 in 2014. The Sewer-Metro Utility ended the period with operating income
of $57,900 compared to operating income of $94,900 in the previous year. Lastly, the Stormwater Utility
ended the quarter with operating income of $1,062,600 as compared with operating income of $1,098,900
in 2014.
The Cemetery ended the third quarter with net operating income of $33,500 compared to operating
income of $3,600 in 2014.
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Worker’s Compensation, Facilities, Innovation and Technology, and Equipment Rental. All
funds have sufficient revenues to cover year-to-date expenditures.
Investment Portfolio:
The City’s total cash and investments at the end of Q3-2015 was $115.7M, and compares to $121.9
million at the end of Q2-2015.
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks Human Services Planning & CD Fire Planning
Park Board Public Works Legal Police
Planning Comm. Other Public Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes No Call for Public Hearing ___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until ___/___/____
Councilmember: Staff: Coleman
Meeting Date: November 30, 2015 Item Number:
2
Quarterly Financial Report Through Q3-2015
General Fund Summary
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Year‐To‐DateGeneral Fund Expenditures by Department
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Year‐To‐DateGeneral Fund Revenues and Expenditures
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3
Quarterly Financial Report Through Q3-2015
General Fund 2014
Summary of Sources and Uses Annual
BudgetYTD BudgetYTD ActualYTD ActualAmount
Operating Revenues
Property Tax 17,182,600$ 9,456,800$ 9,500,023$ 8,671,476$ 43,223$ 0.5 %
Sales Tax 13,662,000 10,102,400 10,850,092 10,232,931 747,692 7.4 %
Sales Tax - Annexation Credit 1,856,000 1,361,500 1,469,642 1,353,361 108,142 7.9 %
Criminal Justice Sales Tax 1,589,000 1,170,000 1,341,552 1,220,359 171,552 14.7 %
Brokered Natural Gas Tax 282,000 229,700 195,126 225,727 (34,574) (15.1)%
City Utilities Tax 3,452,300 2,580,400 2,712,038 2,583,403 131,638 5.1 %
Admissions Tax 330,300 248,000 278,210 242,304 30,210 12.2 %
Electric Tax 3,435,600 2,660,500 2,393,107 2,676,062 (267,393) (10.1)%
Natural Gas Tax 1,152,000 1,020,700 878,683 1,016,345 (142,017) (13.9)%
Cable TV Franchise Fee 888,900 665,800 689,428 662,669 23,628 3.5 %
Cable TV Franchise Fee - Capital 63,000 54,100 53,921 47,420 (179) (0.3)%
Telephone Tax 1,811,000 1,361,100 1,271,170 1,369,114 (89,930) (6.6)%
Garbage Tax (external)106,000 79,470 84,177 79,933 4,707 5.9 %
Leasehold Excise Tax 33,000 20,900 45,968 27,111 25,068 119.9 %
Gambling Excise Tax 232,400 175,000 147,986 211,463 (27,014) (15.4)%
Taxes sub-total46,076,100$ 31,186,370$ 31,911,123$ 30,619,679$ 724,753$ 2.3 %
Business License Fees 219,000$ 120,200$ 154,096$ 107,374$ 33,896$ 28.2 %
Building Permits 1,100,000 869,000 977,631 1,164,856 108,631 12.5 %
Other Licenses & Permits 532,300 385,300 434,921 501,420 49,621 12.9 %
Intergovernmental (Grants, etc.)5,443,451 3,894,478 3,929,887 3,690,117 35,410 0.9 %
Charges for Services:
General Government Services 96,500 73,100 60,462 80,975 (12,638) (17.3)%
Public Safety 515,100 426,207 396,978 382,509 (29,229) (6.9)%
Development Services Fees 680,000 541,500 933,627 910,625 392,127 72.4 %
Culture and Recreation 2,058,080 1,754,500 2,030,266 1,871,665 275,766 15.7 %
Fines and Forfeits 788,040 609,600 711,380 1,040,512 101,780 16.7 %
Fees/Charges/Fines sub-total11,432,471$ 8,673,885$ 9,629,247$ 9,750,053$ 955,363$ 11.0 %
Interest and Other Earnings 36,850$ 27,100$ 32,834$ 29,470$ 5,734$ 21.2 %
Rents, Leases and Concessions 573,200 490,700 574,287 587,800 83,587 17.0 %
Contributions and Donations 32,000 22,300 31,947 35,531 9,647 43.3 %
Other Miscellaneous 107,400 80,100 159,007 129,929 78,907 98.5 %
Transfers In 539,380 76,000 76,000 121,097 - 0.0 %
Insurance Recoveries - Capital & Operating 25,000 18,900 131,404 65,375 112,504 595.3 %
Other Revenues sub-total1,313,830$ 715,100$ 1,005,479$ 969,200$ 290,379$ 40.6 %
Total Operating Revenues 58,822,401$ 40,575,355$ 42,545,850$ 41,338,932$ 1,970,495$ 4.9 %
Operating Expenditures
Council & Mayor 915,017$ 686,800$ 662,611$ 557,961$ 24,189$ 3.5 %
Administration 1,299,136 974,700 746,156 511,602 228,544 23.4 %
Community & Human Services 1,406,523 1,052,600 644,041 689,430 408,559 38.8 %
Municipal Court & Probation 1,935,710 1,733,400 1,888,511 1,198,451 (155,111) (8.9)%
Human Resources 1,137,785 800,300 793,308 908,539 6,992 0.9 %
Finance 1,277,225 1,006,700 975,764 899,315 30,936 3.1 %
City Attorney 2,202,159 1,610,100 1,370,421 1,232,988 239,679 14.9 %
Community Development 4,606,675 3,377,500 2,868,071 2,814,196 509,429 15.1 %
Jail - SCORE 3,670,000 2,752,500 2,744,147 3,439,293 8,353 0.3 %
Police 22,887,782 16,996,100 16,388,842 15,115,068 607,258 3.6 %
Public Works 2,724,409 2,012,700 1,975,023 1,945,676 37,677 1.9 %
Parks, Arts & Recreation 11,096,464 8,399,100 8,320,497 7,332,550 78,603 0.9 %
Streets 3,365,676 2,289,100 2,044,555 2,258,289 244,545 10.7 %
Non-Departmental 6,138,548 4,804,472 4,145,992 1,834,182 658,480 13.7 %
Total Operating Expenditures 64,663,109$ 48,496,072$ 45,567,941$ 40,737,539$ 2,928,131$ 6.0 %
2015 2015 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
4
Quarterly Financial Report Through Q3-2015
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
September 30, 2015 and represents financial data available as of October 22, 2015. Budgeted
revenues and operating expenditures are primarily based on the collection/disbursement average
for the same period of the two prior years.
Through September 2015, General Fund revenues totaled $42.5 million compared to a budget of
$40.6 million and were $1.2 million higher than the revenues collected during the same period
the year prior. Some notable variances to budget year-to-date include:
• General Fund sales tax revenues totaled $10.9 million and exceeded budget by 7.4%
or $748,000, and exceeded prior year collections by $617,000. The areas of
significant increase in sales activity compared to 2014 are primarily in the automotive
and retail trade categories.
• The other taxes category is performing under budget through Q3-2015 due to lower
than anticipated collections in electric tax revenues and natural gas tax revenues.
These revenues year-to-date were under budget by $267,000 and $142,000
respectively due primarily to a mild winter, which reduced customer demand for
heating.
• Development services fees through September totaled $934,000 and exceeded budget
by $392,000. The increased revenues were attributable to plan check revenues and
public facility extension revenues, both of which already exceed year-end budget.
• Culture and recreation revenues exceeded the year-to-date budget by $276,000 and
exceed collections for the same period last year by $159,000. The year-over-year
increase was primarily due to $115,000 in increased revenues collected at the Auburn
Golf Course for greens fees this year compared to the same period last year
(representing a 12.3% increase). In addition, revenues collected for league fees and
charges for classes at the Auburn Avenue Theatre were up year-over-year by $14,000
and $10,000 respectively.
• Other fees and charges exceeded year-to-date budget through Q3-2015 by $252,000
or 10.2%, primarily due to building permit revenue and fines and forfeit revenue
exceeding budget expectations. These favorable variances more than offset the
reduced revenue collected for general governmental services as the City no longer
provides services to the City of Algona. In addition, revenue collected for public
safety through Q3-2015 is lower than budget expectations. This is due to a 32.1%
reduction in extra duty billable hours for private security this year, compared to the
same period last year.
General Fund expenditures through the third quarter of 2015 totaled $45.6 million compared to
a budget of $48.5 million. All departments operated within their allocated budget through Q3-
2015, with the exception of the Municipal Court/Probation cost center. The Municipal Court
ended the period $155,000 over budget, or 8.9%, due to the fact that the annual payment to
King County District Court for services rendered was $336,000 higher than budgeted for the
year. This budget variance will be addressed in Budget Amendment #3.
5
Quarterly Financial Report Through Q3-2015
Year-to-date General Fund expenditures ended the period 11.9%, or $4.8 million, higher than the
same period last year. The increase in year-over-year expenditures was attributable to several
factors including a $2.8 million transfer to the Cumulative Reserve Fund to replenish prior
withdrawals. Salary and benefit costs increased year-over-year by $1.0 million, or 4.3%, due to
lower departmental vacancies compared to the year prior as well as increased costs associated
with health care and pensions. In addition, interfund charges through Q3-2015 were $0.9
million higher than the same period the year prior, primarily from Equipment Rental (due to the
addition of the Golf Course to the General Fund and increased operating, capital construction,
and replacement costs) and from Facilities (due to repair and maintenance projects that were
completed on several City buildings). Lastly, the cost of providing 911 services in 2015 has
increased 30% over the year prior.
$40.6 M
$48.5 M
$42.5 M
$45.6 M
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Revenues
Expenditures
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General Fund
2015 Revenues vs. Expenditures 2015 YTD Actual
2015 YTD Budget
6
Quarterly Financial Report Through Q3-2015
Revenues
The combined total of property tax, sales/use tax, utility tax, gambling, and admissions tax
provides approximately 80% of all resources supporting general governmental activities. The
following section provides additional information on these sources.
Property Tax collections through Q3-2015 totaled $9.5 million and are on target to end the year
on budget. The property tax revenue collection through September 2015 compares to $8.7
million collected the same period the year prior, which represents a 9.6% increase year-over-
year.
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7
Quarterly Financial Report Through Q3-2015
Sales tax collections totaled $12.5 million of which $10.9 million was distributed to the General
Fund and $1.6 million was distributed to the Local Street Fund (SOS) program.* Through
September 2015, total sales tax revenue distributions to the General Fund exceeded budget
expectations by $748,000, or 7.4%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred year-to-date through Q3-2015 was $1,602,935. The graphic above
presents sales taxes under the current policy.
The following table breaks out the City’s base sales tax, excluding Criminal Justice, Annexation
Credit and Streamlined Sales Tax Mitigation, by major business sector.
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Sales & Use Tax
(Net of Revenue from Construction)
2015 budget
2015 actual to date
2014 actual
20142015
Component GroupActualActualAmount
Construction1,299,177$ 1,602,935$ 303,758$ 23.4 %
Manufacturing 866,808666,248(200,560)(23.1)%
Transportation & Warehousing30,85146,93116,08052.1 %
Wholesale Trade 889,379934,50645,1275.1 %
Automotive 2,449,5262,772,680323,15513.2 %
Retail Trade 3,438,5563,719,022280,4668.2 %
Services 2,464,1572,651,561187,4047.6 %
Miscellaneous 91,12151,225(39,896)(43.8)%
YTD Total 11,529,575$ 12,445,109$ 915,534$ 7.9 %
Change from 2014
September-2015
Comparison of Sales Tax Collections by SIC Group
Percentage
8
Quarterly Financial Report Through Q3-2015
Total sales tax revenue collected through Q3-2015 exceeded prior year collections by $921,000,
or 8.0%. The business sectors showing the largest increase in revenues compared to the same
period last year were in the automotive, construction and retail trade industries.
Total sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103)
for local street repair and maintenance, totaled $1,603,000, which is $304,000 higher than the
same period last year, and already exceeds year-end budget for 2015 by a small margin.
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Sales Tax on Construction Transfer
2015 YTD Budget
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Quarterly Financial Report Through Q3-2015
Utility Taxes consist of interfund taxes on City utilities (Water, Sewer, Storm and Solid Waste)
and taxes on external utilities (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes
collected through the third quarter of 2015 totaled $7.3 million compared to a budget of $7.7
million.
As shown in the table below, overall utility tax revenues collected year-to-date were $7.3
million, resulting in underperformance relative to budget of $363,000, or 4.7%. A mild winter
has reduced customer heating demands and resulted in year-over-year declines in electricity and
natural gas sales, and therefore reducing the City’s tax collections. In addition, telephone tax
revenues are running $90,000, or 6.6% unfavorable to budget.
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Utility Tax
2015 YTD Budget
2015 YTD Actual
2014 YTD Actual
201420152015
Utility Tax TypeActualBudgetActualAmountAmount
City Interfund Utility Taxes2,583,403$ 2,580,400$ 2,712,038$ $ 128,635 5.0 % $ 131,638 5.1 %
Electric 2,676,0622,660,5002,393,107(282,955)(10.6)%(267,393)(10.1)%
Natural Gas 1,016,3451,020,700878,683(137,662)(13.5)%(142,017)(13.9)%
Telephone 1,369,1141,361,1001,271,170(97,944)(7.2)%(89,930)(6.6)%
Solid Waste (external)79,93379,47084,1774,244 5.3 %4,707 5.9 %
YTD Total 7,724,857$ 7,702,170$ 7,339,175$ $ (385,682)(5.0)% $ (362,995)(4.7)%
September-2015
Utility Tax by Type
2015 vs. 2014 Actual2015 vs. Budget
Percentage Percentage
10
Quarterly Financial Report Through Q3-2015
Cable TV Franchise Fees, which are collected quarterly, totaled $689,000 and exceeded year-to-
date budget by $27,000 or 4.0%.
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11
Quarterly Financial Report Through Q3-2015
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.
Total building permit revenues collected through September totaled $978,000 compared to a
year-to-date budget of $869,000. Building permits issued through September total 594 and
compares to 662 issued during the same period in 2014. Major projects contributing to revenues
this quarter include building permits for the Green River College off-campus building, and permits
for the seating and finish upgrades to Regal Cinema, as well as other projects and numerous
housing developments – most notably Lakeland Hills Estates.
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2015 YTD Budget
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12
Quarterly Financial Report Through Q3-2015
Business license revenues collected through September totaled $154,000 compared to $107,000
collected the same period in 2014; the difference is due to the timing of collections. The graphic
below reflects the timing of payments by business owners, where the majority of business license
payments are typically collected during the first two months of the year and the last month of
the year.
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13
Quarterly Financial Report Through Q3-2015
Intergovernmental revenues include Grants (Direct & Indirect Federal, State and Local), compact
revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental and state shared revenues.
Collections to date totaled $3.9 million and were $31,000, or 0.8%, higher than budget.
Favorable variances in Motor Vehicle Fuel Tax revenue and Liquor Excise revenues offset the
reduced revenues received in Federal Grant monies and Criminal Justice High Crime revenues.
Due to the timing of the hire dates of the two COPS Grant officers, Federal Grant revenues will
end the year under budget expectations.
Effective during the state’s 2016 fiscal year budget cycle, the City of Auburn does not qualify for
Criminal Justice High Crime revenues because the City’s crime rate for the last reporting period
did not exceed the statewide average. Therefore, the City of Auburn will not receive these
distributions for reporting periods Q3-2015 through Q2-2016. The fiscal impact to the City of
Auburn in 2015 is an estimated reduction in general fund revenues of $96,000.
201420152015
Revenue ActualBudgetActualAmount Amount
Federal Grants 90,084$ 220,000$ 148,202$ $ 58,118 64.5 % $ (71,798)(32.6)%
State Grants 67,921196,100192,790124,869 183.8 %(3,310)(1.7)%
Muckleshoot Casino Emerg.444,667431,400449,3014,635 1.0 %17,901 4.1%
Intergovernmental Service 55,102 014,423(40,679)(73.8)%14,423 N/A
State Shared Revenues:
Streamlined Sales Tax 1,478,7891,507,3001,468,082(10,707)(0.7)%(39,218)(2.6)%
Motor Vehicle Fuel Tax 752,587699,000784,33331,746 4.2 %85,333 12.2%
Criminal Justice - High Crime 47,904144,00096,50948,605 101.5 %(47,491)(33.0)%
Criminal Justice - Population 13,99213,30014,843851 6.1 %1,543 11.6%
Criminal Justice - Special Prog.51,98950,30054,4332,445 4.7 %4,133 8.2%
Marijuana Enforcement 0 04,8814,881N/A4,881 N/A
State DUI 9,92610,0008,328(1,597)(16.1)%(1,672)(16.7)%
Fire Insurance Tax 77,55870,00075,702(1,855)(2.4)%5,702 8.1%
Liquor Excise 101,74076,223117,85116,112 15.8 %41,629 54.6%
Liquor Profit 488,207472,755490,5012,294 0.5 %17,746 3.8%
Total State Shared:3,022,6913,042,8783,115,46592,7743.1 %72,588 2.4%
YTD Total 3,690,117$ 3,894,478$ 3,929,887$ 239,770$ 6.5 %35,410$ 0.9%
September-2015
Intergovernmental
2015 vs. 2014 Actual2015 vs. Budget
% Change % Change
14
Quarterly Financial Report Through Q3-2015
Charges for Services consist of general governmental services, public safety, development service
fees and cultural & recreation fees. Overall, charges for services collected through Q3-2015
totaled $3.4 million compared to a year-to-date budget of $2.8 million. Total revenues
collected thus far exceed year-to-date budget by $626,000, or 22.4%.
General governmental revenues through Q3-2015 totaled $60,000 compared to a budget of
$73,000. The underperformance to budget was due to the fact that the City no longer provides
services to the City of Algona; therefore the City will not receive reimbursement for services.
Public safety revenues collected year-to-date totaled $397,000 as compared to a budget of
$426,000. Public safety revenues consist of revenues generated for Police Officer extra duty
overtime, where officers are contracted for services and reimbursement is made by the hiring
contractor. Effective June 2014, public safety revenue also includes reimbursement from the
Muckleshoot Indian Tribe (MIT) for a full-time dedicated Police Officer and associated
expenditures. Public safety revenues through Q3-2015 were lower than anticipated, primarily
due to the fact that extra duty billable hours through Q3-2015 were down 32.1% compared to
the same period last year.
Development services fee collections, which primarily consist of plan check fees, totaled
$934,000 and exceeded year-to-date budget by $392,000. Total plan check fees collected in
Q3-2015 totaled $140,000 and include revenues related to several commercial and residential
projects including upgrades to Multicare as well as plans for Edgeview, Mountain View North
and Mountain View South housing developments.
201420152015
Revenue ActualBudgetActualAmount Amount
General Government 80,975$ 73,100$ 60,462$ $ (20,514)(25.3)% $ (12,638)(17.3)%
Public Safety 382,509426,207396,97814,469 3.8 %(29,229)(6.9)%
Development Services910,625541,500933,62723,002 2.5 %392,127 72.4 %
Culture & Recreation1,871,6651,754,5002,030,266158,601 8.5 %275,766 15.7 %
YTD Total 3,245,775$ 2,795,307$ 3,421,332$ 175,557$ 5.4 % $ 626,025 22.4 %
September-2015
Charges for Services by Type
2015 vs. 2014 Actual2015 vs. Budget
Percentage Percentage
15
Quarterly Financial Report Through Q3-2015
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Development Service Fees
2015 YTD Budget
2015 YTD Actual
2014 YTD Actual
16
Quarterly Financial Report Through Q3-2015
Culture and recreation revenues totaled $2.0 million and exceeded year-to-date budget by
$276K, or 15.7%, primarily due to higher revenue collected at the Auburn Golf Course for
greens fees. Greens fee revenue collected through Q3 totaled $1,048,000 and exceeded year
end budget of $1,045,000. In addition, both league fees and revenue related to Auburn Avenue
Theatre classes exceeded year-end budget expectations through Q3-2015.
$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
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Culture & Recreation
2015 YTD Budget
2015 YTD Actual
2014 YTD Actual
17
Quarterly Financial Report Through Q3-2015
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 revenue collected through Q3-2015 totaled $711,000, compared to a budget
of $610,000 and prior year collections of $1.0 million. Effective June 2014, the Redflex Photo
Enforcement Program was cancelled, which is the contributing factor for the significant year-over-
year decline in fines and forfeits revenue.
201420152015
MonthActualBudgetActualAmountAmount
Civil Penalties13,115$ 11,900$ 8,823$ $ (4,292)(32.7)% $ (3,077)(25.9)%
Civil Infraction Penalties368,220344,600384,75816,538 4.5 %40,158 11.7 %
Redflex Photo Enforcement377,730 01,859(375,871)(99.5)%1,859 N/A%
Parking Infractions 102,96286,900105,8772,916 2.8 %18,977 21.8 %
Criminal Traffic Misdemeanor39,90839,10041,5681,660 4.2 %2,468 6.3 %
Criminal Non-Traffic Fines33,95135,90036,8952,944 8.7 %995 2.8 %
Criminal Costs 38,36631,40042,7064,340 11.3 %11,306 36.0 %
Non-Court Fines & Penalties66,26059,80088,89222,632 34.2 %29,092 48.6 %
YTD Total 1,040,512$ 609,600$ 711,380$ $ (329,132)(31.6)% $ 101,780 16.7 %
September-2015
Fines & Forfeits by Type
2015 vs. 2014 Actual2015 vs. Budget
Percentage Percentage
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Fines & Penalties
2015 YTD Budget
2015 YTD Actual
2014 YTD Actual
18
Quarterly Financial Report Through Q3-2015
Miscellaneous revenues primarily consist of investment earnings, income from facility rentals,
contributions & donations, and other miscellaneous income, which includes the quarterly
purchasing card (P-card) rebate monies. Total revenues collected in this category through Q3-
2015 totaled $798,000 and exceeded budget expectation of $620,000. Rents and leases
revenue through Q3-2015 exceed budget by $84,000, primarily due to both golf cart rental
revenues and City owned facilities rental revenues having already exceeded year end budget
expectations. In addition, other miscellaneous revenues collected exceeded year-to-date budget
expectations by $79,000, primarily due to higher than budgeted P-Card rebate monies collected
through September.
201420152015
Month ActualBudgetActualAmount Amount
Interest & Investments 29,470$ 27,100$ 32,834$ 3,364$ 11.4 %5,734$ 21.2 %
Rents & Leases 587,800490,700574,287(13,513)(2.3)%83,58717.0 %
Contributions & Donations35,53122,30031,947(3,584)(10.1)%9,64743.3 %
Other Miscellaneous Revenue129,92980,100159,00729,07922.4 %78,90798.5 %
YTD Total 782,729$ 620,200$ 798,076$ 15,346$ 2.0 %177,876$ 28.7 %
Miscellaneous Revenues by Type
September-2015
2015 vs. 20142015 vs. Budget
Percentage Percentage
19
Quarterly Financial Report Through Q3-2015
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. REET revenues collected through Q3-2015 totaled
$3.7 million, compared to a budget expectation of $2.1 million. REET revenues collected
through Q3-2015 already exceed the year-end budget and have surpassed historical collections.
Real estate sales in the City of Auburn this quarter included the sale of several large plots of
vacant land, the sale of several businesses, and the sale of over 400 single family residences.
201420152015
MonthActualBudgetActualAmount Amount
Jan 119,765$ 148,800$ 125,0895,324$ 4.4%(23,711)$ (15.9)%
Feb 208,206201,200115,287(92,919)(44.6)%(85,913)(42.7)%
Mar 118,578166,9001,394,2261,275,6481075.8%1,227,326735.4%
Apr 189,771200,300423,394233,624123.1%223,094 111.4%
May 243,472258,900345,489102,01741.9%86,58933.4%
Jun 236,067263,500436,101200,03384.7%172,60165.5%
Jul 305,214365,300348,74543,53114.3%(16,555)(4.5)%
Aug 263,573295,900269,4545,881 2.2%(26,446)(8.9)%
Sep 182,829233,500228,14045,31124.8%(5,360)(2.3)%
Oct 163,912271,100
Nov 259,026348,500
Dec 183,799246,100
YTD Total1,867,475$ 2,134,300$ 3,685,925$ 1,818,450$ 97.4%1,551,625$ 72.7%
Annual Total2,474,212$ 3,000,000$
Percentage
2015 vs. 2014 2015 vs. Budget
Percentage
Real Estate Excise Tax Revenues
September-2015
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Real Estate Excise Tax
2015 YTD Budget
2015 YTD Actual
2014 YTD Actual
20
Quarterly Financial Report Through Q3-2015
Pet Licensing
Year-to-date, 3,956 pet licenses have been sold resulting in $113,335 in revenue. For the same
period in 2014, 4,348 licenses were sold resulting in $114,330 in revenue.
2015 Budget Goal: $240,000 or more
2015 Revenue = $113,335 2014 Revenue = $114,330
2015 Licenses Sold = 3,956 2014 Licenses Sold = 4,348
0
500
1,000
1,500
2,000
2,500
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
$20
JanFebMarAprMayJunJulAugSepOctNovDec
Li
c
e
n
s
e
s
I
s
s
u
e
d
Re
v
e
n
u
e
s
(t
h
o
u
s
a
n
d
s
)
Pet Licensing Revenues vs Licenses Sold
2015 vs 2014
2014 License Revenue
2015 License Revenue
2014 Licenses Issued
2015 Licenses Issued
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
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
I
s
s
u
e
d
Li
c
e
n
s
e
R
e
v
e
n
u
e
Month
Cumulative Pet Licensing Revenue & Licenses Issued
2015 vs 2014
2015 License Revenue (L)2015 License Revenue (L) (Budget Goal: $240,000)
2015 Licenses Issued (R)2014 Licenses Issued (R)
21
Quarterly Financial Report Through Q3-2015
Street Funds
This section provides financial overview of the City’s three street funds for the fiscal period
ending September 30, 2015. The City’s three street funds include the Arterial Street Fund (Fund
102), the Local Street Fund (Fund 103), and the Arterial Street Preservation Fund (Fund 105).
The capital project expenditures for each of these funds are budgeted primarily based on the
collection/disbursement average for the same period of the prior two years.
Fund 102 – Arterial Street Fund
The Arterial Street Fund is a Special Revenue fund which is funded by transportation grants,
traffic impact fees, a portion of the City’s gas tax receipts, Public Works Trust Fund loans,
developer contributions, as well as other funding sources for street capital construction projects.
There are over 30 separate street projects budgeted in this fund in 2015. Some of these projects
include the South 272nd /South 277th Street Corridor Improvement Project, the Auburn Way
South (AWS) Fir Street Southeast to Hemlock Street Southeast Project, as well as the AWS
Corridor Safety Improvement Project (Muckleshoot Plaza to Dogwood).
Through September 2015, revenues collected totaled $2.4 million as compared to prior year
collections for the same period of $2.6 million. Expenditures through September totaled $3.9
million, compared to $2.6 million spent the same period last year.
Fund 102 - Arterial Street 2014
Summary of Sources and UsesAnnual
Report Period: Through
September 2015 BudgetYTD BudgetYTD ActualYTD ActualAmount
Revenues
Federal Grants 6,448,969$ 2,862,659$ 975,716$ 605,896$ (1,886,943)$ (65.9)%
State Grants 6,820,6583,972,554319,214436,031(3,653,340)(92.0)%
Motor Vehicle Fuel Tax 530,000397,500363,669353,366(33,831)(8.5)%
Developer Contributions 2,001,3281,500,996 0 564(1,500,996)(100.0)%
Miscellaneous Revenue 776,356582,26782,953 15,272(499,314)(85.8)%
Other Governmental Agencies 0 061,520254,988 61,520 N/A %
Public Works Trust Fund Loans 0 0 0240,366 0 N/A %
Operating Transfer In 3,350,1372,512,603553,723733,954(1,958,880)(78.0)%
Investment Income 2,000 1,500 2,159 1,641 659 43.9 %
Total Revenues 19,929,448$ 11,830,079$ 2,358,953$ 2,642,077$ (9,471,126)$ (80.1)%
Expenditures
Salary and Benefits 804,773$ 624,431$ 299,722$ 334,120$ 324,709$ 52.0 %
Services and Charges 200,000150,000146,492169,744 3,508 2.3 %
Capital Outlay 19,781,78012,413,5203,178,9511,760,6459,234,569 74.4 %
Interfund Payments for Services 71,150 53,36353,36158,490 2 0.0 %
Debt Service Principal and Interest 218,763 218,763218,761213,902 2 0.0 %
Operating Transfer Out 10,053 0 0 17,003 0 N/A %
Total Expenditures 21,086,519$ 13,460,077$ 3,897,287$ 2,553,905$ 9,562,789$ 71.0 %
Net Change in Fund Balance(1,157,071)$ (1,629,998)$ (1,538,334)$ 88,173$ (19,033,915)$ 1167.7 %
2015 2015 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 2015 2,781,100$
Net Change in Fund Balance, September 2015(1,538,334)
Ending Fund Balance, September 2015 1,242,766$
2015 Budgeted Ending Fund Balance 1,624,029$
22
Quarterly Financial Report Through Q3-2015
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
$20.0
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Fund 102 -Capital Project Expenditures
2015 YTD Budget
2015 YTD Actual
2014 Actual
2015 YE Budget -
$19.8M
2014 YE Actual -
$2.4M
2015 YTD Actual-
$3.2M
23
Quarterly Financial Report Through Q3-2015
Fund 103 – Local Street Fund
The Local Street Fund is a Special Revenue fund where the revenue from sales taxes on
construction is used for local street repairs. Through September 2015, revenues in this fund
exceeded budget expectations by $499,000, or 39.7%. Expenditures year-to-date were below
budget by $150,000, or 11.1%. Projects within this fund include Pavement Patching and Overlay
and Local Street Pavement Reconstruction.
Fund 103 - Local Street Fund 2014
Summary of Sources and UsesAnnual
Report Period: Through
September 2015 BudgetYTD BudgetYTD ActualYTD ActualAmount
Revenues
Sales Tax on Construction 1,600,000$ 1,104,900$ 1,602,935$ 1,299,177$ 498,035$ 45.1 %
Operating Transfer In 150,000150,000150,000150,000 0 0.0 %
Interest Earnings 2,500 1,875 2,667 1,838 792 42.3 %
Miscellaneous Revenue 0 0 026,034 0N/A%
Total Revenues 1,752,500$ 1,256,775$ 1,755,602$ 1,477,049$ 498,827$ 39.7 %
Expenditures
Salary and Benefits 128,566$ 96,424$ 78,943$ 88,343$ 17,481$ 18.1 %
Services and Charges 300 225 416 314 (191)(84.8)%
Capital Outlay 3,218,6651,240,1571,107,349423,875132,808 10.7 %
Interfund Payments for Services 12,470 9,353 9,360 10,053 (8)(0.1)%
Operating Transfer Out 10,053 0 0 17,003 0 N/A %
Total Expenditures 3,370,054$ 1,346,159$ 1,196,068$ 539,588$ 150,091$ 11.1 %
Net Change in Fund Balance (1,617,554)$ (89,384)$ 559,534$ 937,460$ 348,737$ (390.2)%
2015 2015 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 2015 2,042,977$
Net Change in Fund Balance, September 2015559,534
Ending Fund Balance, September 2015 2,602,512$
2015 Budgeted Ending Fund Balance 425,424$
24
Quarterly Financial Report Through Q3-2015
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Fund 103 -Capital Project Expenditures
2015 YTD Budget
2015 YTD Actual
2014 Actual
2015 Projected Actual
2015 YE Budget -
$3.2M
2015 YE Projected
Actual -$1.8M
2015 YTD Actual
-$1.1M
2014 YE Actual
-$1.7M
25
Quarterly Financial Report Through Q3-2015
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 City Council in 2008. This portion of utility tax revenues is
restricted for arterial street repair and preservation projects. Some projects budgeted within the
Arterial Street Preservation Fund in 2015 include Pavement Patching and Overlay, the annual
Arterial and Collector Crack Seal project, and the Auburn Way North Preservation project.
Through September 2015, year-to-date revenues totaled $2.2 million as compared to a budget of
$2.3 million. Expenditures through this period totaled $3.0 million.
Fund 105 - Arterial St. Presv. 2014
Summary of Sources and UsesAnnual
Report Period: Through
September 2015 BudgetYTD BudgetYTD ActualYTD ActualAmount
Revenues
City Utility Tax 578,000$ 432,100$ 452,006$ 430,567$ 19,906$ 4.6 %
Electric Utility Tax 687,100532,000478,621535,212(53,379)(10.0)%
Natural Gas Utility Tax 230,400204,700175,737203,269(28,963)(14.1)%
Cable TV Tax 177,800133,100139,192133,837 6,092 4.6 %
Telephone Utility Tax 362,200276,900254,234273,823(22,666)(8.2)%
Garbage Utility Tax (External Haulers)17,700 13,27514,03013,322 755 5.7 %
Grants 80,00060,00035,301 0(24,699)(41.2)%
Developer Mitigation Fees 190,000 0 0 0 0 N/A %
Operating Transfer In 612,340612,340612,340 0 0 0.0 %
Interest Earnings 1,500 1,125 2,719 1,453 1,594 141.7 %
Total Revenues 2,937,040$ 2,265,540$ 2,164,180$ 1,591,483$ (101,360)$ (4.5)%
Expenditures
Salary and Benefits 82,071$ 61,553$ 162,060$ 39,372$ (100,507)$ (163.3)%
Services and Charges 150,000 0 0 0 0 N/A %
Capital Outlay 5,543,2211,210,6252,850,17439,882(1,639,549)(135.4)%
Operating Transfer Out 95,463 10,000 8,41117,003 1,589 15.9 %
Total Expenditures 5,870,755$ 1,282,178$ 3,020,645$ 96,258$ (1,738,467)$ (135.6)%
Net Change in Fund Balance(2,933,715)$ 983,362$ (856,465)$ 1,495,225$ 1,637,108$ 166.5 %
2015 2015 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
Beginning Fund Balance, January 1, 20153,180,980$
Net Change in Fund Balance, September 2015(856,465)
Ending Fund Balance, September 20152,324,516$
2015 Budgeted Ending Fund Balance 247,265$
26
Quarterly Financial Report Through Q3-2015
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Fund 105 -Capital Project Expenditures
2015 YTD Budget
2015 YTD Actual
2014 Actual
2015 Projected Actual
2015 YE Projected
Actual -$3.6M
2015 YE Budget -
$5.5M
2014 YE
Actual -$166K
2015 YTD Actual-
$2.9M
27
Quarterly Financial Report Through Q3-2015
Enterprise Funds
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.
At the end of the third quarter, the Water Utility had operating income of $1,309,300 compared
to operating income of $1,289,500 in 2014. Water sales for the same period were 2.7 million ccf
in 2015 and 2.5 million ccf in 2014, which represents a 5.3% increase.
The Sewer Utility ended the quarter with operating income of $48,000 compared to operating
income of $98,900 in 2014. The Sewer-Metro Utility ended the period with net operating
income of $57,900 compared to operating income of $94,900 for the previous year.
The Stormwater Utility ended the quarter with $1,062,600 in operating income which compares
to operating income of $1,098,900 for the same period last year.
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
$2,000
JanFebMarAprMayJunJulAugSepOctNovDec
CC
F
Th
o
u
s
a
n
d
s
Water Revenues vs Water Sold
2015 vs 2014
2014 Water Sales ($)
2015 Water Sales ($)
2014 Water Sold (ccf)
2015 Water Sold (ccf)
28
Quarterly Financial Report Through Q3-2015
The Cemetery Fund ended the third quarter with operating income of $33,500 compared to
operating income of $3,600 for the same period last year. Year to date, the number of
interments at the Cemetery totals 179 (80 burials, 99 cremations), which compares to 179 (82
burials, 97 cremations) for the same period last year.
$0
$20
$40
$60
$80
$100
$120
$140
$160
JanFebMarAprMayJunJulAugSepOctNovDec
Th
o
u
s
a
n
d
s
Cemetery Operating Revenues & Expenditures By Month
2015 vs 2014
2015 Bud. Revenue
2015 Act. Revenue
2014 Act. Revenue
2015 Act. Expenses
$0
$200
$400
$600
$800
$1,000
$1,200
JanFebMarAprMayJunJulAugSepOctNovDec
Th
o
u
s
a
n
d
s
Cumulative Cemetery Revenues & Expenditures
2015 vs 2014
2015 YTD Bud. Revenue
2015 YTD Act. Revenue
2014 YTD Act. Revenue
2015 YTD Act. Expenses
29
Quarterly Financial Report Through Q3-2015
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2015. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds. All funds have sufficient revenues to cover year-to-date
expenditures.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
30
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 102,111,216$ Various 0.18%
KeyBank Money Market Various 13,339,208 Various 0.00%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 115,744,092$ 0.162%
Investment Mix % of Total
State Investment Pool 88.2%Current 6-month treasury rate 0.18%
KeyBank Money Market 11.5%Current State Pool rate 0.18%
US Treasury 0.0%KeyBank Money Market 0.00%
FFCB 0.0%Blended Auburn rate 0.16%
FHLB 0.0%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
September 30, 2015
Summary
31
SALES TAX SUMMARY
SEPTEMBER 2015 SALES TAX DISTRIBUTIONS (FOR JULY 2015 RETAIL ACTIVITY)
2014 Annual Total 2014 YTD 2015 YTD YTD 2014 Annual Total 2014 YTD 2015 YTD YTDNAICSCONSTRUCTION (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff NAICS AUTOMOTIVE (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff
236 Construction of Buildings 866,060 652,751 863,806 32.3%441 Motor Vehicle and Parts Dealer 3,062,768 2,263,012 b 2,587,136 14.3%
237 Heavy and Civil Construction 146,261 104,326 164,662 57.8%447 Gasoline Stations 246,636 186,513 185,544 -0.5%
238 Specialty Trade Contractors 741,211 542,100 574,468 6.0%TOTAL AUTOMOTIVE 3,309,404 2,449,526 2,772,680 13.2%
TOTAL CONSTRUCTION 1,753,532 1,299,177 1,602,935 23.4%Overall Change from Previous Year 323,155
Overall Change from Previous Year 303,758
2014 Annual Total 2014 YTD 2015 YTD YTD
2014 Annual Total 2014 YTD 2015 YTD YTD NAICS RETAIL TRADE (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff
NAICS MANUFACTURING (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff 442 Furniture and Home Furnishings 254,103 178,076 189,327 6.3%
311 Food Manufacturing 3,220 2,654 2,181 -17.8%443 Electronics and Appliances 236,955 194,124 217,286 11.9%312 Beverage and Tobacco Products 8,257 6,142 7,080 15.3%444 Building Material and Garden 502,470 365,425 439,564 20.3%
313 Textile Mills 234 197 247 25.1%445 Food and Beverage Stores 352,552 257,712 274,668 6.6%
314 Textile Product Mills 2,970 2,518 2,029 -19.4%446 Health and Personal Care Store 187,715 144,146 166,104 f 15.2%
315 Apparel Manufacturing 244 237 105 -55.8%448 Clothing and Accessories 1,008,978 742,048 793,985 7.0%
316 Leather and Allied Products 15 7 2 -73.0%451 Sporting Goods, Hobby, Books 212,015 161,403 164,796 2.1%
321 Wood Product Manufacturing 76,560 57,779 52,040 -9.9%452 General Merchandise Stores 955,479 720,944 a 742,535 j 3.0%
322 Paper Manufacturing 5,237 3,712 4,547 22.5%453 Miscellaneous Store Retailers 587,784 413,147 451,623 9.3%
323 Printing and Related Support 44,114 28,677 45,614 59.1%454 Nonstore Retailers 381,876 261,531 279,134 6.7%324 Petroleum and Coal Products 10,293 7,488 4,187 -44.1%TOTAL RETAIL TRADE 4,679,929 3,438,556 3,719,022 8.2%
325 Chemical Manufacturing 5,397 3,986 4,178 4.8%Overall Change from Previous Year 280,466
326 Plastics and Rubber Products 9,844 7,583 7,083 -6.6%
327 Nonmetallic Mineral Products 19,801 13,993 8,429 e -39.8%
331 Primary Metal Manufacturing 1,542 1,416 1,430 1.0%2014 Annual Total 2014 YTD 2015 YTD YTD
332 Fabricated Metal Product Manuf 33,900 25,992 22,553 -13.2%NAICS SERVICES (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff
333 Machinery Manufacturing 24,491 15,644 18,010 15.1%51*Information 486,856 366,007 380,736 d, i 4.0%
334 Computer and Electronic Product 18,265 12,714 6,352 -50.0%52*Finance and Insurance 87,574 63,727 71,027 11.5%
335 Electric Equipment, Appliances 1,179 797 466 -41.5%53*Real Estate, Rental, Leasing 314,900 231,133 245,591 6.3%336 Transportation Equipment Man 837,227 629,795 427,859 -32.1%541 Professional, Scientific, Tech 216,494 160,723 146,216 -9.0%
337 Furniture and Related Products 21,248 17,480 14,397 -17.6%551 Company Management 43 26 9,225 35461.8%
339 Miscellaneous Manufacturing 39,052 27,997 37,458 33.8%56*Admin. Supp., Remed Svcs 350,417 277,970 252,765 -9.1%TOTAL MANUFACTURING 1,163,090 866,808 666,248 -23.1%611 Educational Services 49,123 32,383 43,751 g 35.1%
Overall Change from Previous Year -200,560 62*Health Care Social Assistance 66,359 32,412 63,869 97.1%71*Arts and Entertainment 157,908 132,701 131,423 -1.0%
72*Accommodation and Food Svcs 1,066,580 780,814 852,841 9.2%
2014 Annual Total 2014 YTD 2015 YTD YTD 81*Other Services 425,896 313,316 354,970 h 13.3%NAICS TRANSPORTATION AND WAREHOUSING (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff 92*Public Administration 99,676 72,945 99,148 35.9%
481 Air Transportation 0 0 0 N/A TOTAL SERVICES 3,321,827 2,464,157 2,651,561 7.6%
482 Rail Transportation 8,069 3,977 7,211 81.3%Overall Change from Previous Year 187,404
484 Truck Transportation 4,740 3,291 5,900 79.3%
485 Transit and Ground Passengers 4 4 155 4002.1%
488 Transportation Support 26,786 19,325 25,606 32.5%2014 Annual Total 2014 YTD 2015 YTD YTD491Postal Service 691 631 196 -69.0%NAICS MISCELLANEOUS (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff
492 Couriers and Messengers 672 671 1 -99.8%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 29,718 c 2,953 7,861 166.2%111-115 Agriculture, Forestry, Fishing 7,488 3,441 3,103 -9.8%
TOTAL TRANSPORTATION 70,679 30,851 46,931 52.1%211-221 Mining & Utilities 28,687 18,631 20,228 8.6%
Overall Change from Previous Year 16,080 999 Unclassifiable Establishments 83,442 69,049 27,894 -59.6%
TOTAL SERVICES 119,617 91,121 51,225 -43.8%
Overall Change from Previous Year -39,896
2014 Annual Total 2014 YTD 2015 YTD YTD
NAICS WHOLESALE TRADE (Nov '13-Oct '14)(Nov '13 - Jul '14)(Nov '14 - Jul '15)% Diff
423 Wholesale Trade, Durable Goods 1,024,016 758,585 777,233 2.5%GRAND TOTAL 15,622,791 11,529,575 12,445,109
424 Wholesale Trade, Nondurable 178,054 128,756 155,789 21.0%Overall Change from Previous Year 915,534 7.9%
425 Wholesale Electronic Markets 2,643 2,038 1,484 -27.2%
TOTAL WHOLESALE 1,204,714 889,379 934,506 5.1%
Overall Change from Previous Year 45,127
a. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2014 (adjustment: -$45,145).
b. WA State Dept of Revenue audit adjustment to sales tax returns for period April 2014 (adjustment: $10,242).
c. WA State Dept of Revenue audit adjustment to sales tax returns for period August 2014 (adjustment: $25,146).
d. WA State Dept of Revenue audit adjustment to sales returns for period November 2014 (adjustment: $5,167).
e. WA State Dept of Revenue audit adjustment to sales tax returns for period December 2014 (adjustment: -$2,382).f. WA State Dept of Revenue audit adjustment to sales tax returns for period January 2015 (adjustment: $4,464).
g. WA State Dept of Revenue audit adjustment to sales tax returns for period February 2015 (adjustment: $11,845).
h. Reported correction to prior sales tax returns posted to February 2015 (adjustment: -$9,355).i. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2015 (adjustment: -$17,839).
j. Reported correction to sales tax returns posted to April 2015 (adjustment: -$43,875).
09/29/15
Prepared by Auburn Finance Department 32
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 10,562,308$ 5,958,032$ -$ 6,979,458$ 10,198,414$ 12,493$ 840,013$ -$ 609,580$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 2,585,466 3,961,258 2,605,192
Sewer Metro Service Revenue - - 12,079,810 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 516,958 - - - 66,426 100,680 -
TOTAL OPERATING REVENUES 10,562,308$ 5,958,032$ 12,079,810$ 6,979,458$ 10,198,414$ 529,450$ 840,013$ -$ 609,580$ 2,651,892$ 4,061,938$ 2,605,192$
OPERATING EXPENSES
Salaries & Wages 1,859,340$ 1,217,917$ -$ 1,786,203$ 298,811$ 19,999$ 323,485$ -$ 58,995$ 437,712$ 1,109,232$ 451,868$
Benefits 856,253 561,549 - 810,253 139,054 7,389 152,866 - 124,146 225,603 465,264 217,847
Supplies 194,585 78,331 - 48,664 23,455 4,818 144,161 - - 87,995 236,517 667,192
Other Service Charges 3,165,120 1,724,283 - 953,841 876,964 326,539 98,668 352,917 185,251 998,963 1,586,024 237,303
Intergovernmental Services - 3,388 - 64,239 201,247 - - - - - - -
Waste Management Payments 1 - - - - 7,836,901 - - - - - - -
Sewer Metro Services - - 12,021,865 - - - - - - - - -
Interfund Operating Rentals & Supplies 968,561 728,959 - 1,002,698 78,815 - 49,095 - - 86,112 121,617 162,834
Other Expenses - - - - - - - - - - - -
Depreciation & Amortization 2,209,134 1,595,627 - 1,250,970 14,114 353,711 38,209 - - - 458,888 671,856
TOTAL OPERATING EXPENSES 9,252,993$ 5,910,053$ 12,021,865$ 5,916,868$ 9,469,363$ 712,456$ 806,484$ 352,917$ 368,391$ 1,836,385$ 3,977,542$ 2,408,899$
OPERATING INCOME (LOSS)1,309,315$ 47,979$ 57,945$ 1,062,591$ 729,051$ (183,006)$ 33,529$ (352,917)$ 241,190$ 815,508$ 84,396$ 196,293$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 15,058$ 13,468$ 756$ 18,666$ 2,542$ 871$ 432$ 1,001$ 554$ 2,599$ 3,606$ 5,762$
Contributions - - - 1,059,017 54,603 16,871 150 - - - - 816
Other Non-Operating Revenue 130,989 53,519 - 33,343 280 (4,827) 0 - - 56 1,000 108,409
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (27,956)
Debt Service Interest (49,854) (16,217) - - - (18,559) (11,134) - - - - -
Other Non-Operating Expense - - - - - - - - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 96,193$ 50,769$ 756$ 1,121,026$ 57,425$ (5,644)$ (10,552)$ 1,001$ 554$ 2,655$ 4,606$ 87,032$
PLUS ITEMS NOT AFFECTING WORKING CAPITAL
Depreciation 2,209,134$ 1,595,627$ -$ 1,250,970$ 14,114$ 353,711$ 38,209$ -$ -$ -$ 458,888$ 671,856$
NET WORKING CAPITAL FROM OPERATIONS 3,614,642$ 1,694,375$ 58,701$ 3,434,586$ 800,590$ 165,061$ 61,186$ (351,916)$ 241,744$ 818,163$ 547,891$ 955,181$
Increase In Contributions - System Development 476,296$ 363,954$ -$ 357,569$ -$ -$ -$ -$ -$ -$ -$ -$
Increase In Contributions - Area Assessments 500 10,391 - - - - - - - - - -
Increase In Contributions - Other Governments - - - - - - - - - - - -
Increase In Contributions - Other Funds - - - - - - - - - - - -
Increase In Contributions - FAA - - - - - 1,119 - - - - - -
Proceeds of Debt Activity 68,973 - - - - - - - - - - -
Operating Transfers In - - - 497,933 - - 30,000 - - - - -
Increase In Restricted Net Assets 37,262 888 - - - 15,290 - - - - - -
Decrease In Long-Term Receivables - 45,000 - - - - - - - - - -
Increase In Deferred Credits - - - - - 5,172 - - - - - -
TOTAL RESOURCES OTHER THAN OPERATIONS 583,030$ 420,234$ -$ 855,502$ -$ 21,581$ 30,000$ -$ -$ -$ -$ -$
Net Change In Restricted Net Assets 423,224$ 138,154$ -$ 192,725$ -$ 15,049$ -$ -$ -$ -$ -$ (47,898)$
Increase In Fixed Assets - Salaries 234,573 104,575 - 236,948 - - - - - - - -
Increase In Fixed Assets - Benefits 99,345 46,167 - 101,412 - - - - - - - -
Increase In Fixed Assets - Site Improvements 42,703 - - - - - 14,837 - - - - -
Increase In Fixed Assets - Land - - - 250,000 - - - - - - - -
Increase In Fixed Assets - Equipment - - - - - - - - - - 293,476 967,077
Increase In Fixed Assets - Construction 3,836,479 1,659,655 - 4,196,936 - 296,927 - - - - - -
Increase In Fixed Assets - Other - - - - - - - - - - - -
Operating Transfers Out 192,083 179,598 - 124,000 - - - - - 290,229 - 226,252
Debt Service Principal 522,831 288,262 - - - - - - - - -
Interfund Loan Repayment - - - - - 16,605 - - - - - -
TOTAL USES OTHER THAN OPERATIONS 5,351,238$ 2,416,411$ -$ 5,102,021$ -$ 328,580$ 14,837$ -$ -$ 290,229$ 293,476$ 1,145,431$
NET CHANGE IN WORKING CAPITAL (1,153,566)$ (301,802)$ 58,701$ (811,933)$ 800,590$ (141,938)$ 76,348$ (351,916)$ 241,744$ 527,934$ 254,414$ (190,250)$
BEGINNING WORKING CAPITAL - January 1, 2015 2 14,027,406 13,346,282 2,100,400 16,051,080 2,491,724 756,938 294,547 1,654,057 440,004 2,194,912 3,543,327 5,844,690
ENDING WORKING CAPITAL - September 30, 2015 12,873,840 13,044,480 2,159,101 15,239,148 3,292,314 615,000 370,896 1,302,141 681,748 2,722,846 3,797,741 5,654,440
NET CHANGE IN WORKING CAPITAL (1,153,566)$ (301,802)$ 58,701$ (811,933)$ 800,590$ (141,938)$ 76,348$ (351,916)$ 241,744$ 527,934$ 254,414$ (190,250)$
1 September's Waste Management payment in the amount of $918,218.77 has been added to the Solid Waste Fund and is reflected in the Ending Working Capital balance.
2 The Airport Fund's Beginning Working Capital has been restated reflecting a prior period adjustment of $200,000 as the result of a reclassification of the Airport's interfund loan.
The following table presents the Working Capital Statement for each of the City's Enterprise and Internal Service funds. Working Capital is generally defined as the difference between current assets and current liabilities.
WORKING CAPITAL ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
33
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 10,562,308$ 5,958,032$ -$ 6,979,458$ 10,198,414$ 12,493$ 840,013$ -$ 609,580$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 2,585,466 3,961,258 2,605,192
Sewer Metro Service Revenue - - 12,079,810 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 516,958 - - - 66,426 100,680 -
TOTAL OPERATING REVENUES 10,562,308$ 5,958,032$ 12,079,810$ 6,979,458$ 10,198,414$ 529,450$ 840,013$ -$ 609,580$ 2,651,892$ 4,061,938$ 2,605,192$
OPERATING EXPENSES
Administration 2,157,182$ 1,654,178$ -$ 2,407,365$ 491,315$ 348,455$ 195,952$ 352,917$ -$ -$ -$ 572,395$
Operations & Maintenance 4,886,677 2,660,248 - 2,258,533 1,127,032 10,290 572,323 - 368,391 1,836,385 3,518,654 1,164,648
Waste Management Payments 1 - - - - 7,836,901 - - - - - - -
Sewer Metro Services - - 12,021,865 - - - - - - - - -
Depreciation & Amortization 2,209,134 1,595,627 - 1,250,970 14,114 353,711 38,209 - - - 458,888 671,856
TOTAL OPERATING EXPENSES 9,252,993$ 5,910,053$ 12,021,865$ 5,916,868$ 9,469,363$ 712,456$ 806,484$ 352,917$ 368,391$ 1,836,385$ 3,977,542$ 2,408,899$
OPERATING INCOME (LOSS)1,309,315$ 47,979$ 57,945$ 1,062,591$ 729,051$ (183,006)$ 33,529$ (352,917)$ 241,190$ 815,508$ 84,396$ 196,293$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 15,058$ 13,468$ 756$ 18,666$ 2,542$ 871$ 432$ 1,001$ 554$ 2,599$ 3,606$ 5,762$
Other Non-Operating Revenue 130,989 53,519 - 1,092,360 54,883 12,044 150 - - 56 1,000 109,225
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (27,956)
Other Non-Operating Expense (49,854) (16,217) - - - (18,559) (11,134) - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 96,193$ 50,769$ 756$ 1,121,026$ 57,425$ (5,644)$ (10,552)$ 1,001$ 554$ 2,655$ 4,606$ 87,032$
1,405,508$ 98,748$ 58,701$ 2,183,617$ 786,476$ (188,650)$ 22,977$ (351,916)$ 241,744$ 818,163$ 89,002$ 283,325$
Contributions 476,796$ 374,345$ -$ 357,569$ -$ 1,119$ -$ -$ -$ -$ -$ -$
Transfers In - - - 497,933 - - 30,000 - - - - -
Transfers Out (192,083) (179,598) - (124,000) - - - - - (290,229) - (226,252)
TOTAL CONTRIBUTIONS & TRANSFERS 284,713$ 194,747$ -$ 731,502$ -$ 1,119$ 30,000$ -$ -$ (290,229)$ -$ (226,252)$
CHANGE IN FUND BALANCE 1,690,221$ 293,495$ 58,701$ 2,915,119$ 786,476$ (187,531)$ 52,977$ (351,916)$ 241,744$ 527,934$ 89,002$ 57,073$
BEGINNING FUND BALANCE - January 1, 2015 71,320,494$ 78,284,418$ 2,100,400$ 55,862,809$ 2,560,449$ 9,662,547$ 870,261$ 1,654,057$ 434,859$ 2,152,736$ 4,826,830$ 10,864,439$
ENDING FUND BALANCE - September 30, 2015 73,010,715$ 78,577,913$ 2,159,101$ 58,777,928$ 3,346,925$ 9,475,016$ 923,238$ 1,302,141$ 676,603$ 2,680,670$ 4,915,833$ 10,921,512$
1 September's Waste Management payment in the amount of $918,218.77 has been added to the Solid Waste Fund and is reflected in Ending Fund Balance.
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2015 revenues and expenditures by fund.
FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
34