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HomeMy WebLinkAboutFebruary 2010:w c~TY or AGENDA BILL APPROVAL FARM 1~VA S H 1 N G ~~~C~ Agenda Subject: February 2010 Financial Report Date: 4!1512010 Department: Finance Attachments: February Monthly Budget Impact: 0 Report Administrative Recommendation: Background Summary: The February 2010 status report highlights City revenues and expenditures and is based on financial data available as of March 22, 2414. Sales tax reported in February is for business activities that occurred in December 2409. Total General Fund revenues for the City at the end of February were $1,473,172 which is approximately 14°/0 of the annual budgeted revenues. Compared to budgeted year-to-date revenues, this is $312K X4.6°/0}more due to timing of receipts for intergovernmental revenues. Expenditures for the General Fund totaled $?,101,741 which is $1,574K X18.1%~ under budget for the month. Most of the departments' expenses are typically under budget at the beginning of the year as some expenses such supplies, professional and intergovernmental services are paid out in later periods. Reviewed by Council & Committees: Reviewed by Departments & Divisions; ❑ Arts Gommission C4l1NCIL COMMITTEES: ❑ Building ❑ M&o ❑ Airport ®Finance ❑ Cemetery ❑ Mayor ❑ Hearing Examiner ❑ Municipal Serv. ®Finance ❑ Parks Human Services ❑ Planning & CD ❑ Fire ❑ Planning Park Board ❑Public Works ❑ Legal ❑ Police ❑ Planning Comm. ❑ Other ❑ Public Works ❑ Human Resources ❑ Information Services Action; Committee Approval: ❑Yes ❑Na Council Approval: ❑Yes ❑No Call for Public Hearing I I Referred to Until I 1 Tabled Until 1 I Councilmember: Backus Staff: Coleman Meeting Date: April 19, 201 o Item Number: Monthly Financial Report ~ February 2~~0 ...General Fund 201Q 2D10 YTD Budget vs. . Actual Summary of :Sources and Uses FaWo~bl~:~Unf~varable}. . Annual 13~~get YTD Budget - Y #'D Ac~~iai Amauttt ~ Percentage OPERATING REVENUES Property Tax ]2,357.309 ]75,000 ]59,4]] (15,989} -9.1°/0 Sales Tax 14,255,OOD 2,585,300 2,432,126 (153,174} -5.9°/0 Sales Tax -Annexation Credit ],453500 247,800 246,72$ (],072} -0.4°/0 Criminal Justice Safes Tax ],]43,300 2]b,]00 227,350 11,250 5,20/a Brokered Natural Gas Tax 260,000 b0,800 56,124 {4,676} -7.7°l0 City Utilities Tax 2,]40,200 363,400 3$0,203 16,803 4.b°/o Admissions Tax 400,000 ]00,900 71,507 (29,393} -29.]°/0 Electric Tax 2,794,]00 b$0,700 74b,132 65,432 9.b°!° Natural Gas Tax ],245,500 2bb,]00 255,003 {11,097} -4.2°l0 Cable TV Franchise Fee 676,300 170,900 193,004 22,]04 12.9°/0 Telephone Tax ],734,200 3]0,600 337,190 26,594 8.6°l0 Garbage Tax {external} ]00,000 ]5,600 23,719 8,]19 52,0°/0 Leasehold Excise Tax 80,000 32,800 9,611 (23,1$9} NIA Gambling Excise Tax 766,500 131,]00 ]]2,734 {18,366} -]4.0°l0 Business license Fees 200,000 ]0,400 $,292 (2,108} -20.3°/0 Building Permits 700,000 ]00,300 137,90b 37,606 37.5°l0 Other licenses & Permits ]88,000 25,400 b3,032 37,632 ]48.2°/0 lntergavernmental (Grants, etc} 4,24],990 507,600 735,]43 227,543 44.8°/° Charges for Services: General Government Services ]]3,000 32,800 ]5,720 (17,080} -52.1°l0 Public Safety 244,000 46,200 39,792 (b,408} -13.9°/0 Development Services Fees $57,000 ]70,900 93,433 (77,4b7} -45.30/0 Culture and Recreation $35,000 123,900 ]23,876 {24} O.OO/o Fines and Forfeits ],870,700 28b,400 459,970 173,570 b0,b°/o interests and C)ther Earnings 170,000 50,900 25,471 (25,429} -50.0°/0 Rents, leases and Concessions ]80,000 ]9,300 46,750 27,450 ]42.2°/° Cohtributions and Donations ]2,000 2,000 6,538 4,538 226.90/0 Other Miscellaneous 46,200 8,900 25,576 16,b7b 187.40/0 Transfers In ]1,000 17,000 ]7,000 - 0.00/0 Insurance Recoveries- Capital ~ Operating 25,000 2,083 24,231 22,]48 1063.1010 Total Operating Revenues 49,]05,799 6,761,183 7,073,172 311,989 4.b0/o Operating Expenditures Council & Mayor 738,900 128,400 ]04,965 23,435 ]8.30/0 Municipal Court & Probation 3,055,280 487,700 388,717 98,983 20.3°/0 Human Resources 736,150 ]21,400 1]0,4]] ]0,989 9.]0/0 Finance 1,]46,360 19b,400 1b2,702 33,698 ]7.20/a City Attorney ],7]0,650 296,900 244,477 52,423 17.7°/0 Planning 3,372,370 b06,800 555,457 51,343 8.5°/0 Community & Human Services 1,404,400 166,500 162,231 4,269 2.b°/o Police 23,648,2b5 3,655,400 3,170,734 484,666 13,3°/0 Engineering 3,]]],010 569,400 392,269 177,13] 31.10/0 Parks and Recreation b,$99,300 ],057,800 966,988 90,8]2 8,b°/o Streets 3,140,]00 534,100 374,795 ]59,305 29.8°/0 Non•Departmental 5,442,900 854,800 467,955 ~ 386,845 45.3°/0 Total operating Expenditures 54,005,685 8,b75,600 7,101,701 1,573,$99 18.1°!° ~1j The anticipated Streamlined Sales Tax Mitigation for 2010 is ~1,9bb,155. The year to date actual sales tax amount is adjusted to include $326,152 SST Mitigation for January ~ February based an the ~489,Z27 the State has notified the City will receive for 1st the quarter of 2Q10. Page 1 of 1 ~ Monthly Financiai Report February 2010 C7verview This financial overview reflects the City's overall financial position for the fiscal year through February 28, 2010. The budgeted year to date revenues and operating expenditures are primarily based on the collection/disbursement for the same period of 2009. The table on the previous page summarizes the general fund revenues and expenditures, Revenues Taxes In February, the combined collection of property tax, sales/use tax, utility tax, gambling, and admissions tax represents 74°/0 of ali resources supporting general governmental activities. The following section provides detail information on property and sales taxes. Pro ,erty_~~Tax p..._ Year to date collection at the end of February is $159,011 or 1.3°l0 of the $]2,357,509 annual property tax budget. Compared to 2009, the City collected $5,913 or 5,9°/o more. This is $15,989 less than the projected monthly budget. VUe will continue to monitor our collections to see if they are in line with the budget. f prap~~ Tax; Rev~~e Year to . ,l~a~e~ through February 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percents a Amount Percents e . . . . . fan 38,602 45,000 27,735 X10,867} -25.2°l0 X17,265} -38.4°/0 Feb 111,495 130,000 131,275 19,780 17.7°/a 1,275 1.0°l0 Mar 222,173 259,000 A r 4,1$8,834 4,582,400 Ma 852,588 993,500 Sun 37,763 44,000 Sul 21,075 24,600 Au 32,632 38,000 se 196,787 229,400 Oct 3,836,015 4,471,309 Nov 1,017,258 1,185,700 Dec 46,566 54,300 YTD Total 150,097 175,000 ] 59,01 ] S,9] 3 5.9°/0 X15,989} -9. ] °/a . . . - Annual Total 10,601,791 12,357,509 Page 2 of 1 ~ Monthly Financial Report February 2010 Sales Tax Sales tax received in February including Streamlined Sales tax mitigation of $163,076 totaled $1,303,51 S and is approximately $24K or 1.9°lo greater than last year for the same period. Compared to the projected monthly budget, it is under by $65.SK or 5.0 °/o less. Total anticipated SST mitigation for 2010 is $1,966,775 but the amount the City will receive from the State is reduced by revenues received from companies that have voluntarily complied with the new destination based sales tax. Sales & Use Tax Revenue Year t~ Date thr~ugl~ :~ebr~ary 2009 2010 2010 2010 vs. 2009. _ 2010 vs. Bud e . . t Month Actuai Bud et Actua[ Amount Percenta a Amount Percenta e Jan 1,232,999 1,213,000 1,12. _ . 8,608 X104,391} -8.5°l0 X84,392} -7.0°l0 Feb 1,279,532 1,372,300 1,303,518 23,985 ~ 1.9°l0 X68,782} -5.0°l0 Mar 1,059,642 1,085,700 A r 1,041,972 1,066,300 May 1,161,471 1,249,400 Jun 1,098,038 1,144,900 Jui 1,152,738 1,180,300 Au 1,250,264 1,302,700 Se 1,148,525 1,147,700 Oct 1,254,457 1,20D,404 Nov 1,197,153 1,175,200 Dec 1,065,935 1,117,100 YTD Total 2,512,531 2,5$5,300 2,432,126 X80,406} -3.2°l0 X153,174} -5.9°l0 -Annual Tota! 13,942,728 14,255,000 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. ~ ~ ~omparisc~r~ of Saes T`~x ~~llec~i~~s by.; S1C~ ~r~up . Year tp date through ~el~r~ary 2449 2414 Chan a from 2049 Com onent Grou Actual Actual Amount Percenta e New Construction 272,641 225,200 X44,441} 16.3°/a Manufacturin 62,652 69,255 6,603 10.5°/a Trans ortation ~ lXlarehousin 6,240 4,867 ~1,373~ -22.0°/0 V~lholesale Trade 195,581 210,649 15,o6S 7.7°l0 Automotive 377,176 383,462 6,286 1.7°l0 Retail Trade 750,987 731,255 X19,732} -2.6°/0 Services 534,570 516,863 ~17,707j -3.3°/0 Miscellaneous 9,716 6,391 ~3,325~ -34.2°l0 YTD Total 2,209,563 2,150,942 X58,621} -2.7°l0 Page 3 of 11 r Monthly Financial Report February 2010 Utilit Tax This revenue source consists of City inter-fund utility taxes {later, Sewer, Storm and Solid lwaste} and external utility taxes (Electric, Natural gas, Telephone and Solid lXlaste}. Year to date utility tax revenue is $x,742,247 which is $178.9K X9.3°/0} less than 2009 primarily due to the City lnterfund utility taxes. There was a temporary increase in the City inter-fund tax for Solid lxlaste from November 2008 through C}ctober 2009. In addition, telephone tax revenue has decreased approximately 1~°/o in comparison to the same period in 2009. This decrease is attributed to the late payment of telephone tax which was received in March from one of the larger companies. The 204 actual revenues are in line with the budget with $~45.8K or 6.5°/o more than anticipated tax revenues. Y Uti[1ty Tax ev~nues Year to Da~~ th~~u~h` Febi~a~y 2009 2010 2010 2010 vs. 2009. 2010 vs...Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 1,329,027 1,188,200 1,258,792 (70,236} -5.3°l0 70,592 5.9°/0 Feb 592,186 448,200 483,456 (108,730} -18.4°l0 35,256 7.9°l0 Mar 304,496 216,900 A r 1,911,964 1,738,100 May 575,114 436,OO0 Jun 441,229 325,200 Jul 1,340,355 1,195,700 Au 621,691 469,600 Se 453,881 336,100 " Qct 1,123,629 980,004 Nov 516,516 397,200 Dec 376,459 282,500 YTD Total 1,921,213 1,636,400 1,742,247 (178,966} -9.3°/0 105,847 6.5°/0 Y t 1~... .'Y'.. Annual Total 9,586,547 8,014,000 The following table presents utility tax by source: .f k Utr~ty :::Tax ~y, Type Y , ~ w4 t Year to Date through 1"ebruary ..x. " 2009 2a1o 2oto 2a1o vs. zoos 20~o vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Cit Interfund Utility Taxes 521,567. .363,400 380,203 141,3 ( 64} -27.1°/0 16,803 4.6°/0 Electric 731,082 680,700 746,132 15,050 2.1°l0 65,432 9.6°/0 Natural Gas 264,334 266,104 255,003 X9,331} -3.5°/a (11,497} -4.2°/a Teie hone 380,611 310,600 337,190 (43,421} -11.4°l0 26,590 8.6°l0 Solid Waste 23,619 15,600 23,719 104 0.4°/0 8,119 52.0°l0 YTD Total 1,921,213 1,636,404 1,742,247 (175,966) -9,3°l0 105,847 6.5°/0 Annual Total 9,586,547 8,014,000 Page 4 of 11 a Monthly Financial Report February 200 Cable TV Franchise Fees are received quarterly and are shown on the table below. This is $4.41< or 2.3°/o more than the previous year for the same period and is $22.~1< or X2.9°/o greater than the 200 year to date budget. , . . a ~ e ~anc~~s~ Pei Year to Date through l~ebruary~. 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percents a Amount Percents e Jan 188,592 170,900 - X188,592} -100.4°l0 ~~70,900} -100.0°/° Feb - - 193,004 193,004 NIA 193,004 N/A ' Mar - - Ar - - May 184,01 I 166,800 Jun - _ Jul 186,766 169,2ao Au - - se - - Uct ] 86, 910 ] 69,400 Nov - - Dec - - YTDTotal 188,592 170,900 193,004 4,412 2.3°/0 22,104 12.9°l° Annual Total 746,280 676,300 Licenses and Permits This revenue source is comprised of business licenses, building permits, plumbing, electric and other licenses and permit fees. At the end of February, the City has collected 19°/0 of the annual projected revenue from licenses and permits. Building permit fees and Business Licenses makeup 82°l0 of annual revenue in this category and the following tables present detail information for each. 8ui~d~n.g P~~mifs Year to'~~~e~thr~uh ~e~~ua~Y 2009 2010 2010 2410 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percents a Amount Percents e 1 ~ .1. Jan 17,047 69,800 88,175 . 71,12$ 417.2°/0 18,375 26.3°l0 Feb 30,070 30,500 49,731 19,661 65.4°l0 19,231 63.1°l0 N[ar 34,273 84,000 A r 85,717 5],800 Ma 44,732 47,100 Jun 158,105 49,840 Jul 90,765 62,900 Au 54,856 96,200 Se 42,615 68,300 Oct 83,041 45,300 Nov 56,606 38,200 Dec 137,651 56,100 YTD Total 47,117 100,300 137,906 90,789 192.7°l0 37,606 37.5°/0 . , Annual Total 835,478 700,000 Page 5 of 1 I r Monthly Financial Report February 2410 Total building permits revenues at the end of February were $137,906. This was $90.7K greater than 2009 for the same period and $37.6K or 37.5°/o greater than budgeted revenues. The increase is primarily due to the developments at Trail Run and North Tapps Estates. Business License revenues for the period are $2.6K or 23.5°l0 less than 2009 and $2.1 K or 20.3°/0 less than 2010 year to date budget. This revenue source is typically [ow in the beginning of the year as most licenses are renewed mid year. 'Bvslness icehse . • Year ta: Date through February 2DO9 ZD10 2D1D 2Di0 vs. 24D9 2D10 vs. Bud et Month Actual Bud et Actual Amount Percents a Amount Percents e Jan 6,626 6,300 3,945 ~2,681~ 40.5 , ` . - °/o ~2,355~ -37.4°l0 Feb 4,255 4,200 4,347 59 2.1°l0 247 6.0°/0 Mar 4,706 4,500 A r 3,952 3,$00 May 4,259 4,ZOo Jun 102,500 98,000 Jul 49,110 47,000 Au 12,061 11,500 Se 6,271 6,000 oct 6,277 6,oao Nov 5,229 5,000 Dec 3,810 3,600 YTD Total 10,884 10,400 8,292 X2,592} -23.8°l0 ~2,10$~ -20,3°/0 Annual Total 209,089 200,000 inter overnmental Revenues in this category include Grants, Direct & [ndirect Federal, State and Local} State shared revenues and compact revenue from the Muckleshoot Indian Tribe. February receipts are greater than budgeted revenue mainly due to the Muckleshoot compact that is budgeted conservatively. • Timing of grant revenue varies as they are processed on a reimbursement basis. ln~ergver~n~~~tai" Year tb ~Uate through Fe~rua~r 2009 2D1D 2014 2009 vs 2010 2010 vs.Bud et Revenue Actual Bud et Actual % Chan a °lo Chan e . ' . . , Federal Grants 9,539 21,100 1,246 -57.3°l0 -94. 1 °la State Grants - - - N/A NIA lnterlocal Grants - 10,000 5,142 N/A -18.6a1o State Shared Revenue 569,080 555,100 590,743 3.8°/0 6.4°l0 Muckleshoot Casino Emer . 323,222 226,400 368,231 13.9°l0 62.6°/0 YTD Total 902,142 812,600 965,362 7,3°l0 19.2°/0 , Annual Total 4,499,411 4,241,990 YTD °/0 20°/a 19°/0 23°/0 Page 6 of ~ ~ Monthly Financial Report February 2010 Total state shared revenues are greater than 2009 for the same period due to the increased revenues from the Motor Vehicle Fuel Tax. Compared to budget, revenues are greater by $33,774 or 6.~°l0. Income from Criminal Justice-Special programs and Criminal Justice Sales tax were budgeted conservatively and contributed to the overall increase. . ~ ~ ~ ~ ~ ~ State ~hared~~R~v er~ues;, Year n Dade through l+ebrua~y 2009 2010 zolo 201o vs. 2009 201o vs. Bud et Revenue Actual Bud et Actual Amount Percents a Amount Percents e Trial Court Im rovements - 6,000 5,680 5,6$0 NIA X320} •5.33°l0 Motor Vehicle 1=uel Tax 215,0$4 225,000 236,771 21,691 10.1°la 11,771 5.2°la Criminal Justice Sales Tax 243,490 216,100 221,350 X16,140} -6.6°/0 11,250 5.2°l0 Criminal Justice -Po ulation 16,176 16,800 17,434 858 5.3°l0 234 1.4°l0 Criminal Justice -S ec. Pro , 13,401 5,000 14,056 655 4.9°l0 6,056 75.7°l0 State DUI 2,983 1,000 3,156 173 5.S°lo 2,156 215.6°la l.i uor Excise Tax 77,950 78,200 80,826 2,876 3.7°la 2,626 3.4°l0 YTQ Total 569,0$0 551,100 584,874 15,794 2.8°l0 33,774 6.1°/0 .<<. . Annual Total 2,465,986 2,590,740 Fines 6~ Penalties These revenue sources include traffic and parking infraction penalties, criminal traffic, non traffic and costs} false alarm and shopping cart fines. This revenue source is $58,616 or 52.6°lo greater thin 2009 for the same period and $i 73,570 or 60.6°lo higher than projected budget for the month. The overall increase is primarily due to the rise in the traffic infraction and photo enforcement revenues. Two new photo enforcement school zones were added in September 2009 with a month grace period; the City began receiving revenues from these additional zones in November 2049. Revenues net of operating expenses from the photo enforcement program are designated for traffic calming improvements. F~n~s ~ For'feits by Month J Year to date ,fihrough l~~ebr-ua~.y' 2009 2010 2010 201o vs. zoo9 201o vs. Bud et Month........ .Actual Bud et Ac tual Amount Percents a Amount :Percents e 1 4 Jan 148,141 144, S44 236, 675 8S, 534 59.8% 95, $75 68.1 deb 153,213 145,6x0 ' 223,295 70,482 45.7% 77,695 53.4% Mar 168,348 160,400 Apr 165,420 157,244: May 174,475 165, soo Jun 168,284 159,940 Jut 159,112 ]51,200: Au 144,593 137,544 Sep 163,212 155,200: } Oct 143,517 136,544 :f Nov 167,497 159,200 Dec 212,349 241,844: YTD Total 301,354 2$6,400 459,974 155,616 ~ 52.6°/a 173,574 ~ 60.6% Annua[ Total 1,968,157 1,874,744 Page7ofll Monthly Financial Report February 200 . Fjnes & l=~rfeits by Type Year tQ Date ~hrvugh:~ebr~ary t { 2009 2010 ~ 2010 2010 vs. 2409 201 o vs. Bud et Month Actual Budget Actual Amount Percenta Amount `Percentage r Civic Penalties 2,426 1,700 4,436 2,011 82.9°l° 2,736. 161.0°/0 Civil Infraction Penalties 91,101 65,900 ' 142,940 51,$39 56,9°/0 77,040: 116,9°/° Red Li ht Photo Enforcement 136,064 192,904 237,335 101,272 ' 74,4°l0 44,435 ' 23.0°/a Parl~in Infractions 22,440 6,900 32,440 10,000: 44.6°/0 25,544 ' 370.1°l0 Criminal Traffic Misdemeanor 17,274 20,300 14,345 X2,966} -17.2°/0 (5,992) -29.5°/° Criminal Non-Traffic Fines 23,139 17,940. 20,180 X2,959} -12.8°/0 2,284 ` 12.7°la Criminal Costs 2,936 4,900 ` 2,480 X456} -15.5°/0 X2,420}' -49.4°/0 Non-Court Fines & Penalties 5,974 4,104 5,$51 X123} ; -2.i°l° 1,751 ' 42.7°l0 YTD Tota! 341,354 314,600 ~ 459,974 15$,616 52,6°l0 145,370 46.2°/a , . , ....v. V t Anncaal Total 1,920,343 1,870,700 . ~ ~ .1 ~ Phvt~ E nl~orcement , ' Ye~~ t~ ->~ate througf~ Fe~;rua~y 2009 2014 2010 2014 vs. 2009 2oio vs. Bud et Month . , Actual Budget ~ Actual Amount ~ Percentage Amount Percentage r Jan 73,432 101,004 ` 134,182 60,751: ~ „ 82.7°/0 ..,.,.33,182 ~ 32.9% Feb 62, 632 91, 900 ' 103,153 40, 521 ~ 64.7% 11,253 12.2°l° Mar 67, 543 93, 300 Apr 70,057 91,600 May 78, 746 103, 000 Jun 76,9so 100,700 Jul 79,382 103,soo Au 63,225 s2,7oa r Sep 47, 897 67, 700 Oct 44,010 62,600 Nov 74,239 97,104 t Dec 102, $95 104, 600: { YTD Total 136,064 192,900 237,335 101,272 ~ 74.4°/° 44,435 ~ 23.0% , r•~ Annual Total 841,038 1,100,000 Page 8 of 1 ~ Monthly Financial Report February 210 Real Estate Excise Tax The Real Estate Excise Tax GREET} revenue is received in the Capital Improvement Projects Fund and is used for governmental capital projects. February X010 revenue of $56,636 is $58,SO7 or 54.9°/0 less than 209 for the same period. This is $76.7K less than the budget for the month and reflects the current slump in the commercial and residential market. . Real ~sta~e ~~xcrse Tax. Revenues ` .Year to Date through February . 2409 ~ 2010 2010 2010 vs. 2009 2410 vs. Bud et Month Actual Budget Actual Amount Percenta a Amount :Percenta e Jan 55,308 63,900 ; 44,219 X11,088} -20.0°/0 19,681} -30.8°l0 Feb 115,443 133,300 56,636 X58,807} -50.900 X76,664} > -57.5°l0 Mar 114,240 131,900 ` r Apr 75,831 87,600 May 68,846 79,5D0 } Jun 141,704 163,600 f Jul 106,672 123,200 Aug 115,268 133,100 se 179,067 206,700 pct 314,172 362, 7DD Nov 184,935 213,500: Dec 87,440 101, 000 ~YT D Total 170, 751 197,200: 100, 856 X69, 895} -40.9°/0 X96, 344} } -48.9°/0 ~ ~ r Annual Total 1,558,926 1,800,DOD Page 9 of 11 Monthly Financial Report February ZQIo Enterprise Funds The table below provides an analysis of all City Enterprise funds and shows the year to date revenues and expenditures for each enterprise fund. Water Sewer Storm Solid Waste Airport Cemetery Goff Comm, Retail OPERATING REVENUES Charges for services ],3b7,021 2,54$,647 1,051,4b9 1,525,178 4,236 110,201 $2,246 Rents, leases, and concessions - - 98,523 - 16,D20 TOTAL OPERATING REVENUES 1,361,02T 2,548,647 1,051,469 1,525,178 ]02,759 110,207 98,2b6 OPERATING EXPENSES: Administration 342,924 283.580 387,082 113,815 103,021 43,161 35,193 Operations & Maintenance 605,937 2,092,756 353,110 751,761 - 85,487 164,904 Depreciation & Amortization 353,564 231,380 183,955 3,422 36,255 9,533 55,b72 10,167 TOTAL OPERATING EXPENSES 1,302,425 2,607,716 924,147 874,998 139,276 138,181 255,769 10,167 OPERATING INCOME (LOSS} 64,b02 459,D69} 127,322 b50,180 (3b,51T} (27,974) (157,503} (10,167) NON•OPERATING REVENUES & EXPENSES Interest Revenue 12,393 21,161 2,203 466 493 145 84 Other Non Operating Revenue 138 - - (61} 12 (651} 892 TOTAL NON-OPERATING REVENUES (EXPENSES) 12,531 21,161 2,2D3 405 505 (506} 976 INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS T7,133 (37,908} 129,525 650,585 (3b,012} (28,480} (156,527} (10,167} Contributions b1,424 58,$17 bi,b12 - - - Transfers In - 2,454 Transfers Out (50,DD0} (50A00} (50,000} • - - TOTAL CONTRIBUTIONS & TRANSFERS 11.424 8,877 11,b12 - - 2,454 CHANGE iN FUND BALANCE 88,557 (29,0317 141,131 650,585 (3b,012} (28,480) (154,073} (10,167} BEG1NiJING FUND BALANCE, January 1, 2010 58,580,941 b4,391,028 39,620,492 1,51b,387 9,687,b53 1,114,014 5,501,174 ],473,941 ENDING FUND BALANCE, February 28, 2010 58,669,499 b4,3b1,997 39,761,b29 2,226,972 9,651,642 ],085,594 5,341,701 1,4b3,714 Solid 1Xlaste operating expenses are low due to timing of invoices form 1Xlaste Management. February billing of $64o,99rt was posted in March. Page ~ 0 of 11 Monthly Financial Report February X010 internal Service Funds The table below provides an analysis of all City Internal Service funds and shows the year to date revenues and expenditures for each fund. Information Equipment Insurance Facilities Services Rental OPERATING REVENUES: Interfund Charges for services - 432,924 6SD,346 407,850 Rents, Leases & Concessions - 34,311 - - TOTAL OPERATING REVENUES - 467,235 b50,34b 407,550 OPERATING EXPENSES: Administration 1,099,370 - - 9,547 Operations & Maintenance - 307,8b7 573,690 149,644 Depreciation & Amortisation - - 83,796 181,201 TOTAL OPERATING EXPENSES 1,099,370 3D7,867 bS7,48b 340,392 OPERATING INCOME FLOSS} X1,099,370} 159,3b8 (7,140} b7,458 NON-OPERATING REVENUES & EXPENSES Interest Revenue 750 203 1,836 2,359 Other Non Operating Revenue - - 4,048 23,350 TOTAL NON-OPERATING REVENUES EXPENSES} 750 203 5,884 25,7D9 INCOME FLOSS} BEFORE CONTRIBUTIONS & TRANSFERS X1,098,620} 159,571 X1,256} 93,167 Contributions _ _ - Transfers In _ _ _ Transfers Out - - - X7,000} TOTAL CONTRIBUTIONS & TRANSFERS - - - (7,000} CHANGE IN FUND BALANCE X1,098,620) 159,571 X1,256} 8b,1b7 BEGINNING FUND BALANCE, January 1, 2010 2,234,4b9 207,b37 4,9i4,84b 10,892,939 ENDING FUND BALANCE, February 28, 2Di0 1,135,849 367,208 4,913,590 10,979,106 The Insurance Fund expenses include $1,099,370 that was paid at the beginning of the year. This amount will be decreasing throughout the year as the expense is being allocated to the various departments and funds on a monthly journal entry. Equipment rental fund balance of $10,919,106 includes over $5.4 million in capital assets net of depreciation which primarily consist of the City's fleet vehicles. Contact Information This report is prepared by the Finance Department. Additional financial information can also be viewed at our website: http:1lwww.~,uburnwa,govl. For any questions about the report please contact us at k'ester auburnwa. ov or scoleman auburnwa. ov. 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I I I City of Auburn investment Portfoiiv Summary As of February 28, 24~ 0 Investment Purchase Purchase Maturity Yield to Type Date Price Date Maturity State Investment Pool Various $ 71,966,414 Various 0.27% KeyBank Money Market Various 3,645,335 Various 0.1 D% US Treasury D5l0411990 57,750 05l1512D16 5.72% FHLB 712412008 1,022,OOD.DD 5126!2010 4.520% FHLB 2l212oD9 1,OOO,D00.00 21212D11 1.540°/0 FHLB 2!2!2009 1,OOD,000.00 8!212011 1.84D°/o FHLB 8!11!2009 1,000,000.00 5111l2D12 1.240% FHLB 12!1 Dl2009 1, 000,000.00 12110!2012 1.000% FHLB 11!2412009 1,ODD,D00.00 11/2112012 1.000% FHLB 12!2912009 1,000,000.00 6!2912012 1.375°/0 FNMA 2119!2010 3,000,000.00 2!19!2013 1.500°/° Total Cash & Investments $ 85,694,499 0.43% Investment Mix % of Total Summary State Investment Pool 84.0°/° Current 6-month treasury rate 0.19% KeyBank Money Market 4.3°/° Current State Pool rate 0.27°/° US Treasury 0.1 KeyBank Money Market D.10°/° FHLB 8.2°/° Blended Auburn rate 0.43°/° FHLMC 3.5% 1aa.a°~°