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Home My WebLink AboutMarch 2010CITY OF AGENDA BILL APPROVAL FORM ~ WASHINGTON Agenda Subject: March 2010 Financial Report Date: 5/13/2010 Department: Finance Attachments: March Monthly Report Budget Impact: 0 Administrative Recommendation: Background Summary: The March 2010 status report highlights City revenues and expenditures and is based on financial data available as of April 26, 2010. Sales tax reported in March is for business activities that occurred in January 2010. Total General Fund revenues for the City at the end of March were $10,102,254 which is approximately 21 % of the annual budgeted revenues. Compared to budgeted year-to-date revenues, this is $795K (8.5%} more due to timing of receipts fortelephone utility tax and intergovernmental revenues. Expenditures for the General Fund totaled $11,461,582 which is $1,845K (13.9%} 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 Commission COUNCIL COMMITTEES: ❑ Building ❑ M&0 ❑ 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 l I Referred to Until I I Tabled Until I I Councilmember: Backus Staff: Coleman Meeting Date: May 17, 2010 Item Number: . ,,a r M®nthly Financial Rep®rt March 2010 C►enera! Fund 2010 2010 YTD budget vs. Actua( Summary of Sources and Uses Favorable (Unfavorable) Annual budget YTD Pudget YTD Actua( Amount Percentage ®PERATWG REVENUES Property Tax 12,357,309 434,000 453,373 19,373 4.5% Sales Tax (1) 14,255,000 3,671,000 3,444,299 (226,701) -6.2% Sales Tax -Annexation Credit 1,453,500 393,100 346,609 (46,491) -11.8% Criminal Justice Sales Tax 1,143,300 302,700 318,624 15,924 5.3% Brokered Natural Gas Tax 260,000 88,000 77,967 (10,033) -11.4% City Utilities Tax 2,140,200 540,900 568,693 27,793 5.1% Admissions Tax 400,000 102,900 73,142 (29,758) -28.9% Electric Tax 2,794,100 680,700 746,132 65,432 9.6% Natural Gas Tax 1,245,500 266,100 255,003 (11,097) -4.2% Cable TV Franchise Fee 676,300 170,900 193,004 22,104 12.9% Telephone Tax 1,734,200 344,600 549,418 204,818 59.4% Garbage Tax (external) 100,000 21,000 39,215 18,215 86.7% Leasehold Excise Tax 80,000 32,800 9,611 (23,189) -70.7% Gambling Excise Tax 766,500 136,500 162,734 26,234 19.2% Business License Fees 200,000 14,900 11,919 (2,981) -20.0% Building Permits 700,000 184,300 181,702 (2,598) -1.4% Other Licenses & Permits 188,000 43,100 84,600 41,500 96.3% Intergovernmental (Grants, etc) 4,241,990 698,300 1,041,006 342,706 49.1% Charges for Services: General Government Services 113,000 42,100 26,084 (16,016) -38.0% Public Safety 244,000 71,500 62,145 (9,355) -13.1% Development Services Fees 857,000 221,400 176,336 (45,064) -20.4% Culture and Recreation 835,000 248,900 257,807 8,907 3.6% Fines and Forfeits 1,870,700 446,400 712,709 266,309 59.7% Interests and Other Earnings 170,000 65,800 37,521 (28,279) -43.0% Rents, Leases and Concessions 180,000 47,000 84,104 37,104 78.9% Contributions and Donations 12,000 3,000 14,806 11,806 393.5% Other Miscellaneous 46,200 12,400 127,158 114,758 925.5% Transfers In 17,000 17,000 17,000 - 0.0% Insurance Recoveries- Capital & Operating 25,000 6,250 29,533 23,283 372.5% Total ®perating Revenues 49,105,799 9,307,550 10,102,254 794,704 8.5% ®perating Expenditures Council & Mayor 738,900 194,000 165,689 28,311 14.6% Municipal Court & Probation 3,055,280 740,400 626,395 114,005 15.4% Human Resources 736,150 186,400 165,884 20,516 11.0% Finance 1,146,360 291,100 260,392 30,708 10.5% City Attorney 1,710,650 507,900 366,479 141,421 27.8% Planning 3,372,370 929,300 805,317 123,983 13.3% Community & Human Services 1,004,400 220,800 203,428 17,372 7.9% Police 23,648,265 5,717,500 5,247,090 470,410 8.2% Engineering 3,111,010 840,700 603,682 237,018 28.2% Parks and Recreation 6,899,300 1,711,500 1,539,639 171,861 10.0% Streets 3,140,100 777,500 654,096 123,404 15.9% Non-Departmental 5,442,900 1,189,400 823,493 365,907 30.8% Total ®perating Expenditures 54,005,685 13,306,500 11,461,582 1,844,918 13.9% (1J The anticipated Streamlined Sales Tax Mitigation for 2010 is $1,966,755. The year to date actual sales tax amount is adjusted to include $489,227 SST Mitigation the City received from the State for 1St the quarter of 2010. Page 1 of 13 M®nthly Financial Rep®rt March 2010 Overview This financial overview reflects the City's overall financial position for the fiscal year through March 31, 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 March, the combined collection of property tax, sales/use tax, utility tax, gambling, and admissions tax represents 72% of all resources supporting general governmental activities. The following section provides detail information on property and sales taxes. Pr®perty Tax Year to date collection at the end of March is $453,373 or 3.7% of the $12,357,509 annual budget. Compared to 2009, the City collected $81,104 or 21.8% more. At the end of the 15t quarter, property tax revenue is $19,373 or 4.5% more than the year to date budget and is in line with the budget. Property Tax Revenue bear to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Budget Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 38,602 45,000 27,735 (10,867) -28.2% (17,265) -38.4% Feb 111,495 130,000 131,275 19,780 17.7% 1,275 1.0% Mar 222,173 259,000 294,363 72,190 32.5% 35,363 13.7% Apr 4,188,834 4,882,400 May 852,588 993,800 Jun 37,763 44,000 Jul 21,078 24,600 Aug 32,632 38,000 Sep 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 372,270 434,000 453,373 81,104 21.8% 19,373 4.5% Annual Total 10,601,791 12,357,509 Page 2 of 13 M®nthly Financial Rep®rt March 2010 Sales Tax Sales tax received in March including Streamlined Sales tax mitigation of $163,076 totaled $1,012,173 and is approximately $47.5K or 4.5% less than last year for the same period. Compared to the projected monthly budget, it is under by $73.5K or 6.8% less. As of the end of March the City has received $489,227 of the total anticipated SST mitigation of $1,966,775 for 2010. The actual amount of SST mitigation the City will receive from the State is reduced by taxes received from companies that have voluntarily complied with the new destination based sales tax. Sales & lase Tax Revenue (ear to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 1,232,999 1,213,000 1,128,608 (104,391 -8.5% (84,392 -7.0% Feb 1,279,532 1,372,300 1,303,518 23,985 1.9% (68,782 -5.0% Mar 1,059,642 1,085,700 1,012,173 (47,469 -4.5% (73,527 -6.8% Apr 1,041,972 1,066,300 May 1,161,471 1,249,400 Jun 1,098,038 1,144,900 Jul 1,152,738 1,180,300 Au 1,250,264 1,302,700 Sep 1,148,525 1,147,700 Oct 1,254,457 1,200,400 Nov 1,197,153 1,175,200 Dec 1,065,935 1,117,100 YTD Total 3,572,174 3,671,000 3,444,299 (127,874 -3.6% (226,701) -6.2% Annual Total 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. Comparison of Sales Tax Collections by SIC Group Year to Date through March 2009 2010 Chan a from 2009 Component Group Actual Actual Amount Percentage New Construction 348,446 330,870 (17,576) -5.0% Manufacturing 90,076 95,903 5,827 6.5% Transportation & Warehousing 8,169 6,824 (1,345) -16.5% Wholesale Trade 271,728 292,419 20,691 7.6% Automotive 585,913 570,863 (15,050) -2.6% Retail Trade 1,007,805 972,784 (35,021) -3.5% Services 766,328 716,228 (50,100) -6.5% Miscellaneous 13,532 10,942 (2,590) -19.1% YTD Total 3,091,997 2,996,833 (95,164) -3.1% Page 3 of 13 M®nthly Financial Rep®rt March 2010 Utilit Tax This revenue source consists of City inter-fund utility taxes (1XJater, Sewer, Storm and Solid Waste) and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility tax revenue is $2,158,460 which is $67.2K (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 Waste from November 2008 through October 2009. The 2010 actual revenues are greater by $305K or 16.5% more than budgeted tax revenues. This increase is attributable to higher revenues in the telephone and solid waste tax. We will monitor these revenues and increase the budget mid year as needed. Utility Tax Revenues Year to Date through March 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% 70,592 5.9% Feb 592,186 448,200 483,456 (108,730) -18.4% 35,256 7.9% Mar 304,496 216,900 416,213 111,717 36.7% 199,313 91.9% Apr 1,911,964 1,738,100 May 575,114 436,000 Jun 441,229 325,200 Jul 1,340,355 1,195,700 Au 621,691 469,600 Sep 453,881 336,100 Oct 1,123,629 980,000 Nov 516,516 397,200 Dec 376,459 282,800 YTD Total 2,225,709 1,853,300 2,158,460 (67,249) -3.0% 305,160 16.5% Annual Total 9,586,547 8,014,000 The following table presents utility tax by source: Utilty Tax by Type Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e City lnterfund Utility Taxes 776,254 540,900 568,693 (207,561) -26.7% 27,793 5.1% Electric 731,082 680,700 746,132 15,050 2.1°lo b5,432 9.6% Natural Gas 264,334 266,100 255,003 (9,331) -3.5% (11,097) -4.2% Telephone 422,246 344,600 549,418 127,172 30.1% 204,818 59.4% Solid Waste 31,793 21,000 39,215 7,422 23.3°l0 18,215 8b.7% YTD Total 2,225,709 1,853,300 2,158,460 (67,249) -3.0% 305,160 16.5% Annual Total 9,586,547 8,014,000 Page 4 of 13 M®nthly Financial Rep®rt March 2010 Cable TV Franchise Fees are received quarterly and are shown on the table below. This is $4.4K or 2.3% more than the previous year for the same period and is $22.1 K or 12.9% greater than the 2010 year to date budget. Cable TV Franchise Fee Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 188,592 170,900 - (188,592) -100.0% (170,900) -100.0% Feb - - 193,004 193,004 N/A 193,004 N/A Mar - - - - N/A - N/A Apr - - May 184,011 166,800 Jun - - Jul 186,766 169,200 Au - - Sep - - Oct 186,910 169,400 Nov - - Dec - - YTD Total 188,592 170,900 193,004 4,412 2.3% 22,104 12.9% 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 March, the City has collected 26% of the annual projected revenue from licenses and permits. Building permit fees and Business licenses make up 82% of the annual revenue in this category and the following tables present detail information for each. Building Permits Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 17,047 69,800 88,175 71,128 417.2% 18,375 26.3% Feb 30,070 30,500 49,731 19,661 65.4% 19,231 63.1% Mar 34,273 84,000 43,796 9,523 27.8% (40,204) -47.9% Apr 85,717 51,800 May 44,732 47,100 Jun 158,105 49,800 Jul 90,765 62,900 Au 54,856 96,200 Sep 42,615 68,300 Oct 83,041 45,300 Nov 56,606 38,200 Dec 137,651 56,100 YTD Total 81,390 184,300 181,702 100,312 123.2% (2,598) -1.4% Annual Total 835,478 700,000 Page 5 of 13 M®nthly Financial Rep®rt March 2010 Total building permits revenues at the end of March were $181,702. This was $100.3K greater than 2009 for the same period and $2.6K or 1.4% less than budgeted revenues. The increase from 2009 is primarily due to the developments at Trail Run and North Tapps Estates. Business License revenues at the end of March are $3.7K or 23.5% less than 2009 and $2.9K or 20.0% less than 2010 year to date budget. This revenue source will be low during the first part of the year as most licenses are renewed mid year. Business License Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 6,626 6,300 3,945 (2,681) -40.5% (2,355) -37.4% Feb 4,258 4,100 4,347 89 2.1% 247 6.0% Mar 4,706 4,500 3,627 (1,079) -22.9% (873) -19.4% Apr 3,952 3,800 May 4,289 4,200 Jun 102,500 98,000 Jul 49,110 47,000 Au 12,061 11,500 Sep 6,271 6,000 Oct 6,277 6,000 Nov 5,229 5,000 Dec 3,810 3,600 YTD Total 15,590 14,900 11,919 (3,671) -23.5% (2,981) -20.0% Annual Total 209,089 200,000 Inters®vernmental Revenues in this category include Grants, (Direct & Indirect Federal, State and Local) State shared revenues and compact revenue from the Muckleshoot Indian Tribe. March 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. Intergovernmental Year to Date through March 2009 2010 2010 2009 vs 2010 2010 vs.Bud et Revenue Actual Bud et Actual % Chan e % Chan e Federal Grants 16,939 36,000 12,864 -24.1% -64.3% State Grants 13,234 8,100 19,627 N/A N/A lnterlocal Grants - 15,000 19,242 N/A 28.3% State Shared Revenue 686,506 673,900 694,936 1.2% 3.1% Muckleshoot Casino Emerg. 323,222 226,400 368,231 13.9% 62.6% YTD Total 1,039,901 959,400 1,114,899 7.2% 16.2% Annual Total 4,499,411 4,241,990 YTD % 23% 23% 26% Page 6 of 13 M®nthly Financial Rep®rt March 2010 Total state shared revenues are greater than 2009 for the same period due to the increased Motor Vehicle Fuel Tax revenues and the timing of Trial Court Improvements revenue. This revenue was not received until June in 2009. Compared to budget, revenues are greater by $21,036 or 3.1%. Income from Criminal Justice-Special programs and Criminal Justice Sales tax were budgeted conservatively and contributed to the overall increase. State Shared Revenues Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e Trial Court improvements - 6,000 5,680 5,680 N/A (320) -5.33% Motor Vehicle Fuel Tax 332,506 347,800 346,834 14,328 4.3% (966) -0.3% Criminal Justice Sales Tax 243,490 216,100 227,350 (16,140) -6.6% 11,250 5.2% Criminal Justice -Population 16,176 16,800 17,034 858 5.3% 234 1.4% Criminal Justice -Spec. Pro . 13,401 8,000 14,056 655 4.9% 6,056 75.7% State DUl 2,983 1,000 3,156 173 5.8% 2,156 215.6% Liquor Excise Tax 77,950 78,200 80,826 2,876 3.7% 2,626 3.4% YTD Total 686,506 673,900 694,936 8,430 1.2% 21,036 3.1% Annual Total 2,465,986 2,594,740 Charles f®r Services This revenue source consist of general governmental services, public safety, development service fees and cultural & recreation fees. Development services and culture & recreation revenues make up approximately 83% of the $2,049,000 annual budget for this category and are presented following the Charges for Service table below. At the end of March $528,372 or 25.8% of budget has been received for all charges for services. General government services include passport services, administrative fees, court duplicating costs and sale of maps & publications. This revenue source is low compared to 2009 because the City received $12,394 for court services from the City of Algona in January 2009 for prior year services. The City of Auburn is no longer collecting this revenue as Algona's court cases are now being handled by the City of Pacific. Public Safety consists of law enforcement services, probation and prisoner lodging fees. Probation fees account for $50.3K of the $62K received to date for this category and is slightly less than budgeted revenues as of the end of March. Charges for Services by Type Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e General Government 39,282 32,500 26,084 (13,198) -33.b0°/o (6,416) -19.74°l0 Public Safety 73,631 71,500 62,145 (11,486) -15.6°/0 (9,355) -13.1% Development Services 127,798 221,400 176,336 48,538 38.0°/0 (45,064) -20.4% Culture ~ Recreation 247,964 248,900 257,807 9,843 4.0°/0 8,907 3.6°l0 YTD Total 488,675 574,300 522,372 33,b91 6.9°/0 (51,928) -9.0% Annual Total 1,683,495 2,049,000 Page 7 of 13 M®nthly Financial Rep®rt March 2010 Development Services include Engineering fees, zoning & subdivision fees and plan check fees. Year to date revenues total $176,336 and is 38% or $48.5K greater than 2009 for the same period. Zoning a & subdivision fees related to Kersey 3 and Jovita Heights contributed to the overall increase from 2009 coupled with plan check fees for various commercial and residential projects. Still, overall revenue is less than the budget for the year by $45K or 20% due to lower than anticipated engineering fees revenue. VVe will review this revenue source mid year to see if it is still in line with the budget. Development Service Fees Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 51,833 89,800 39,755 (12,078) -23.3% (50,045) -55.7% Feb 46,818 81,100 53,677 6,859 14.7% (27,423) -33.8% Mar 29,147 50,500 82,904 53,757 184.4% 32,404 64.2% Apr 45,238 78,400 May 23,450 40,600 Jun 86,974 150,800 Jul 42,644 73,900 Au 53,060 92,000 Sep 32,404 56,200 Oct 15,079 26,100 Nov 26,650 46,200 Dec 41,227 71,400 YTD Total 127,798 221,400 176,336 48,538 38.0% (45,064) -20.4% Annual Total 494,524 857,000 Culture & Recreation revenues consist of theater ticket sales, recreational classes, arts commission and senior citizen program fees. Increase in this revenue source is primarily from adult fitness classes, "around the bell" before & after school programs, adult softball program and youth theater camps. Culture & Recreation Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 71,561 71,800 65,917 (5,644) -7.9% (5,883) -8.2% Feb 51,878 52,100 57,959 6,081 11.7% 5,859 11.2% Mar 124,525 125,000 133,930 9,405 7.6% 8,930 7.1% Apr 81,520 81,800 May 75,505 75,800 Jun 90,011 90,200 Jul 77,622 77,900 Au 66,639 66,900 Sep 61,305 61,500 Oct 41,086 41,200 Nov 44,066 44,200 Dec 46,428 46,600 YTD Total 247,964 248,900 257,807 9,843 4.0% 8,907 3.6% Annual Total 832,146 835,000 Page 8 of 13 M®nthly Financial Rep®rt March 2010 Fines & 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 $243,007 or 51.7% greater than 2009 for the same period and $266,309 or 59.7% higher than the projected year to date budget. 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 2009. Revenues net of operating expenses from the photo enforcement program are designated for traffic calming improvements. Fines & Forfeits by Month Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 148,141 140,800 236,675 88,534 59.8% 95,875 68.1% Feb 153,213 145,600 223,295 70,082 45.7% 77,695 53.4% Mar 168,348 160,000 252,739 84,391 50.1% 92,739 58.0% Apr 165,420 157,200 May 174,475 165,800 Jun 168,280 159,900 Jul 159,112 151,200 Aug 144,593 137,500 Sep 163,212 155,200 Oct 143,517 136,500 Nov 167,497 159,200 Dec 212,349 201,800 YTD Total 469,702 446,400 712,709 243,007 51.7% 266,309 59.7% Annual Total 1,968,157 1,870,700 Fines & Forfeits by Type Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Acfiual Amount Percenfia a Amount Percenfia e Civil Penalties 4,530 3,200 6,697 2,167 47.8°l0 3,497 109.3°l0 Civil Infraction Penalties 149,147 107,900 226,022 76,875 51.5°l0 118,122 109.5°l0 Red Light Photo Enforcement 203,607 286,200 355,694 152,087 74.7°l0 69,494 24.3°l0 Parkin Infractions 35,840 11,100 50,508 14,668 40.9°l0 39,408 355.0°l0 Criminal Traffic Misdemeanor 26,479 31,100 24,969 (1,510) -5.7°l0 (6,131) -19.7°l0 Criminal Non-Traffic Fines 36,424 28,200 33,289 (3,135) -8.6°l0 5,089 18.0°l0 Criminal Costs 3,567 5,900 3,308 (259) -7.3°l0 (2,592) -43.9°l0 Non-Court Fines & Penalties 10,107 7,000 12,223 2,116 20.9°l0 5,223 74.6°l0 YTD Total 469,701 480,600 712,709 243,008 51.7°l0 232,109 48.3°l0 Annual Total 1,920,343 1,870,700 Page 9 of 13 M®nthly Financial Rep®rt March 2010 Photo Enforcement Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Budget Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 73,432 101,000 134,182 60,751 82.7% 33,182 32.9% Feb 62,632 91,900 103,153 40,521 64.7% 11,253 12.2% Mar 67,543 93,300 118,358 50,815 75.2% 25,058 26.9% Apr 70,057 91,600 May 78,746 103,000 Jun 76,980 100,700 Jul 79,382 103,800 Aug 63,225 82,700 Sep 47, 897 67, 700 Oct 44,010 62,600 Nov 74,239 97,100 Dec 102,895 104,600 YTD Total 203,607 286,200 355,694 152,087 74.7% 69,494 24.3% Annual Total 841,038 1,100,000 Miscellane®us This revenue source is comprised of interest and other investment earnings, rents, leases & concessions, contributions & donations and other miscellaneous income. The 2010 budget for this revenue category is $408,200 and interest & investment and rentals & leases make up 86% of the annual budget. Decreased interest revenue reflects the decline in the financial markets; the Local Government Investment Pool interest has decreased from 1.27% in January 2009 to .22% in March 2010. The increase in rentals & leases is primarily from Parks facility rentals. Contributions & donations are high because of unbudgeted employee contributions. Other miscellaneous revenue is budgeted conservatively and year to date receipts are greater than 2009 receipts and 2010 budget due to reimbursements for prior year general fund expenditures. Miscellaneous Revenues by Type Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Interest & Investments 69,040 65,800 37,521 (31,519) -45.7% (28,279) -43.0°l0 Rents & Leases 74,077 47,000 84,104 10,027 13.5% 37,104 78.9% Contributions & Donations 5,b32 3,000 14,806 9,174 1b2.9% 11,806 393.5°l0 Other Miscellaneous Revenue 21,225 12,400 127,158 105,933 499.1°l0 114,758 925.5% YTD Total 1b9,974 128,200 263,588 93,614 55.1°l0 135,388 105.6% Annual Total 664,307 408,200 Page 10 of 13 M®nthly Financial Rep®rt March 2010 Real Estate Excise Tax The Real Estate Excise Tax (REET) revenue is received in the Capital Improvement Projects Fund and is used for governmental capital projects. February 2010 revenue of $175,842 is $39,254 or 34.4% less than 2009 for the same period. This is $56.9K less than the budget for the month and reflects the current slump in the commercial and residential market. Real Estate Excise Tax Revenues Year to Date through March 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e Jan 55,308 63,900 44,219 (11,088) -20.0% (19,681) -30.8% Feb 115,443 133,300 56,636 (58,807) -50.9% (76,664) -57.5% Mar 114,240 131,900 74,986 (39,254) -34.4% (56,914) -43.1% Apr 75,831 87,600 May 68,846 79,500 Jun 141,704 163,600 Jul 106,672 123,200 Au 115,268 133,100 Sep 179,067 206,700 Oct 314,172 362,700 Nov 184,935 213,500 Dec 87,440 101,000 YTD Total 284,991 329,100 175,842 (109,149) -38.3% (153,258) -46.6% Annual Total 1,558,926 1,800,000 Page 11 of 13 M®nthly Financial Rep®rt March 2010 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 Golf Comm. Retail OPERATING REVENUES Charges for services 2,050,188 3,811,075 1,596,391 2,290,589 7,201 178,184 149,471 Rents, leases, and concessions - - - - 152,699 - 27,950 TOTAL OPERATING REVENUES 2,050,188 3,811,075 1,596,391 2,290,589 159,900 178,184 177,420 OPERATING EXPENSES: Administration 558,965 428,162 513,134 173,463 138,103 65,228 52,444 Operations & Maintenance 925,364 3,089,312 545,162 1,500,245 26 137,299 273,670 Depreciation & Amortization 529,887 346,608 275,577 5,134 54,382 14,300 83,508 15,250 TOTAL OPERATING EXPENSES 2,014,216 3,864,082 1,333,874 1,678,842 192,511 216,827 409,622 15,250 OPERATING INCOME (LOSS) 35,972 (53,007) 262,517 611,747 (32,611) (38,643) (232,201) (15,250) NON-OPERATING REVENUES & EXPENSES Interest Revenue 13,703 22,449 2,983 629 682 195 98 Other Non Operating Revenue & (Expense) (79,862) (76,169) (80,000) - 125 75 4,983 TOTAL NON-OPERATING REVENUES (EXPENSES) (66,159) (53,720) (77,017) 629 807 270 5,081 INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (30,187) (106,728) 185,499 612,376 (31,804) (38,373) (227,121) (15,250) Contributions 92,936 68,635 76,718 - - - - Transfers In - - - - - - 29,089 Transfers Out (50,000) (50,000) (50,000) - - - - TOTALCONTRIBUTIONS & TRANSFERS 42,936 18,635 26,718 - - - 29,089 CHANGE IN FUND BALANCE 12,749 (88,093) 212,217 b12,376 (31,804) (38,373) (198,032) (15,250) BEGINNING FUND BALANCE, January 1, 2010 58,580,941 b4,391,028 39,620,492 1,576,387 9,687,653 1,114,074 5,501,774 1,473,941 ENDING FUND BALANCE, March 31, 2010 58,593,690 b4,302,936 39,832,709 2,188,763 9,655,849 1,075,701 5,303,743 1,458,691 Solid Waste operating expenses are low due to timing of invoices form Waste Management. March billing of $627,422 was posted in April. Page 12 of 13 M®nthly Financial Rep®rt March 2010 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 - 649,386 975,519 613,003 Rents, Leases & Concessions - 40,904 - - TOTALOPERATING REVENUES - 690,290 975,519 613,003 OPERATING EXPENSES: Administration 997,993 - - 125,782 Operations & Maintenance - 501,557 877,510 132,461 Depreciation & Amortization - - 123,141 268,266 TOTAL OPERATING EXPENSES 997,993 501,557 1,000,651 526,509 OPERATING INCOME (LOSS) (997,993) 188,733 (25,132) 86,494 NON-OPERATING REVENUES & EXPENSES Interest Revenue 952 303 2,527 3,253 Other Non Operating Revenue & (Expense) - - 6,072 23,350 TOTAL NON-OPERATING REVENUES (EXPENSES) 952 303 8,599 26,603 INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (997,041) 189,036 (16,533) 113,097 Contributions - - - - Transfers In - - - - Transfers Out - - - (7,000) TOTAL CONTRIBUTIONS & TRANSFERS - - - (7,000) CHANGE IN FUND BALANCE (997,041) 189,036 (16,533) 106,097 BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939 ENDING FUND BALANCE, March 31, 2010 1,237,428 396,674 4,898,313 10,999,036 The Insurance Fund expenses include $997,993 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 $10,999,036 includes over $5.4 million infixed assets net of depreciation which primarily consist of the City's fleet vehicles. C®ntact Informati®n This report is prepared by the Finance Department. Additional financial information can also be viewed at our website: http://www.auburnwa.~ov/. For any questions about the report please contact us at kjester(a~auburnwa.~ov or scoleman(~auburnwa.~ov. Page 13 of 13 co ~n h o N M cd of M Q o o o 0 0 o o Q o~ o 0 0 0 0 o 0 0~ Q ° Q H Q O N Q N~ 0 0 00 N LL~ O~ W H Q~ ~ M~ N f~ N Lf) 67 00 H Q O~ N~ H Q ~ c M~ c ~ N ~ CO f~ ~ pp CO CO ~ ~ o CO N M M M~ ~ N ~ o ~ W O M ~ o X Q X b ~ o~ ti O ~ ~n ~ M M a~ o~ o a~ a~ ~ ~ ^ ~ o o~ ~n co ~ co ~ ~n ~ a~ ~ N ~ O ~ ~ ~ ~ M N ~ ~ M M a~ ~ N O ~ ~ a~ ~n ~ o~ M C.o o~ ti ~ ~ N ~n ~ ~ ~ ~ u-~ ~ u ~ ~ ~ o N 0 ~ cD c_o co ~ ~0 0~ ~o ~ ~ w O ~ r~ O ~ N ~ ~ c, ~ ~ ~ ~ CO ~ Lf~ c~') f` CO O ~ ~ CO N 67 M 67 O O~ N C~'i I~ ~ ~ O ~ M ~ f„4 ~ N ~ ~ ^ ~ Lc7 M O ~ ~ N ~ M N O ^ ~ ~ O ~ ti Lc7 Lc7 ~ ~ O O 67 N ~ O ~ ~ ~I ~ 07 ~ o ~ N N ~ M ~ ~ f9 py ~ y} fA fA fA EA Q ao co Q ~ r~ r` r~ w c~ ao ~ ~ ~ Q r~ ao co u~ w r` ~ ~ ~ w ~ M Q M u~ a» Q ~ ~ CO ~ M ~ N O 67 M f~ O ~ ~ M ~ ~ ~ ~ ~ ~ 67 M CO N N ~ f~ N O O ~ O M N O N ~ 07 } ~ ~ ~ } l[') ~ ~ 67 M 00 ~ N ~ M ~ } 00 ~ LL') CD ~ ~ ~ N 00 ~ CO l[) M } O ~ N ~ } 07 cD 07 CO (V f~ ~ M~ O o0 N ~ 6i N f~ 0 0 ~ ~ M 6) ~ 67 ~ M ~ O O ~ ~ 67 ~ N ~ LL') M CO ^ O N ~ 00 CO CO N ~ f~ O O O 67 M 67 ~ O~ 00 O N N ~ O O ~ N ~ O O ~ O O Lt7 O I~ M r ~ bg 64 64 64 J M ~ J L[') CD cD ~ cD cD ~ ~ cD cD J cD 67 O N 00 f~ N~ M~ M M J N f~ N O J O a~ N~ a~ ~ N O L[) M ~ ~ LL7 M N~ a O M O~~ O O Lf) O H O Lf) ~ a~ N Lf) O~ ~ a n ~ ~ CO O ~ ~ ~ ~ N ~ ~ M N 67 M O ^ t~ ~ ~ W N ~ ~ 67 ~ ~ ~ M N l[') ~ ~ N 00 ~ 67 ~ tp ~ ~ O 6i 67 ~ O 6j ~ 00 N 07 N ~ 00 ~ O cD N~ 67 O N ~ f~ ~ M ~ ~ O CO ~ O Gi cD 00 ~ a1 ~ M Lf) Lf) ~ 00 ~ M 00 N O Lf) 00 O 67 CO ~ CO ~ N N CO ^ ~ N ~ t9 O ~ M ~ N ~ M M ~ f~ O~ N~ y M ~ N ~ O~ 00 ~ 67 ~ y 67 O N N~ O ~+j 00 O N y O ~ O ~ •i ~ •i ~ i ~ ~ ~ .o ~ o ~ o o ~ ~ ~ a ~ ~ ~ E ~ ~ m ~ w ~ o r ~ ~ ~ V 0 \ ~ ~ ~ m h ~ ~ ~ Q ~ ~ ~ C ~ \ ~ ~ ~ ~ ~O ~ ~ ~ ° o a~°i ~ O U ~ ~ ° c ~ Q ~ J O O ~ O N J N N ~ N m ~ ~ W ~ ~ ~ > cn ~ J ~ ~ H Q \ ~ ~ > W ~ c ~ j o ca ~ N a~ a ~ ° J ~ ° a~i N Q c li ° V W ~ O a a ca H a,w.~~cnU ° L N~ ° ca c ~ m Ln tB~ ~ W cn O a~ n ° ~ N 2 o L H c ~ ° a~ ~ ~ ~ W ° ~ U xs ° ~ ~ ~ o c ai vi c°a cn J ~ ~ ~ ° Z ~ ° ~ U ~ ~ N w O Q ~ ° p ° Q ° ~ y ° ~ ° cn ~ a ° ~ ~ ° ~ cn cA ca ° ° > ° ~ ~ w G ~ ° ma ~'c~00xs ~ oxs ~cn o~j c ~ ~~N c ~xS yJ r J ~ o~ ~S c c~- o f ~ ~ W cNn ~ c~~ W (n Q J ~ ~n W o c`~a p ~ ~ °o a~i ~ n a°i o p ° ~ a~i ° o ~ ~ a~i ~ v ~ ~ O ~ ~ .c ~ r~ ~C~H wwmw=Ucn(~~zH ~ii~aUQw2000aH ~Q~~~ N ~ ~ ~ N M ~ L[') CD 00 ~ N M ~ ~x ~x ~x ~ ~ ~x ~ ~x ~x ~x ~x ~x O ~ N 07 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ LL') Lf) Lf) Lf) ~ N M ~ Lf) CO r N ~ N ~ N O ~ ~ 67 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Lf') Lf') Lf') Lf') Lf') Lf') (p CO f~ ~ O W O ~ ~ W ~ `Q z z ~ N d 1 O r O ~ ~ cfl N W N " a J Q o\ o Q o 0 0 0 0 0 0 0 0 0 0~ o 0 0 0 0 0 0 0 o Q w o~ o 0 0 0 Q w o 0 0 Q V H Q 07 ~ O H Q 07 O f~ ~ ~ O O ~ N M CD f~ N N 07 ~ 67 ~ ~ Q Q L[') N~ O Q~~ ~ Q O~ O ~ o N 67 Lf) ~ o ~ ~ O M Lf) Lf) f~ O N N (p ~ O ~ L[') ~ Lf) CO 00 ~ ~ o Z r N 00 Z O O ~ o ~ W ~ ~ M ~ \ L[) N~ pp f~ ~ M N N 00 ~ O N O O N i ~ \ LL') O N N M Lf) \ ~ , N L i i i i i i i N i r i i i W i i 0 i 5~ ' } o ~ M ~ ^ } ~ o~ ~ in ~ N O~ c_o u-~ N r~ u~ ~ o cv ~ ~n c~ ~ ~ N } co ~ ch M cO ~ ~P } o~ o ~ ~ O co ~ri ~ ~ ~ ~i N ~ ~i cri Sri ~ ~i ~ ~ ~ O ~ cri M ~i ~ ~ r~ ° ~ ~ M ~ h o co ~ o~ M ~ O M ~ ~ ~ N N fA fA fA £R Q N f~ O Q~ f~ M M N~ f~ Lf) ~ O N O~ O Lf) M O A N Lf) M Q O 00 LL') Lf) f~ N N O Q U O d0 ~ 67 H M O ~ f~ N~ N~ N O l[') O~ CD N O 67 N ~ ~ M ~ L[') L[) O ~ ~ M f~ O M ~ O ~ CO E N O } Lf~ f~ } W N N O N N M O O ~ ~ ~ CO 00 M Lf) M CO 00 ~ } N CO CO Lf) } 00 N O 67 ~ N O~ 67 ~ N O N O M ~ N ~ N O N ~ N L[) ~ 67 ~ ~ ~ ~ 67 ~ M ~ O CO M~~ O ~ ~ W O O N E ~ r ~ M N N 6R ~ 64 ~ ~ ~ ifF J ~ 07 cD ~ J f~ O L[') ~ 07 ~ ~ f~ ~ O Lf) M O N N 00 LL') W O R M ~ J O~ O~ O O~ cD J O N ~ a ~ O a~ 67 ~ l[') f~ O ~ 67 B O O cD f~ 67 M 67 67 ~ f~ O N O a ~ 67 W 67 ~ N~ a~ Lf) ~ ~ 00 N N U1 ~ O O N M N ~ 67 l[') f~ 67 CO N ~ N f~ LL') N W ~ 67 ~ ~ ~ l[) O O ~ ~ f~ ^ ~ ~ W N ~ ~ O L[') O N 0 O N M ~ ~ O ~ O CO W Lf) N 00 00 N f~ N~ O O~ M ~ 0 O 07 07 M ~ ~ ~ ~ ~ ,O ~ M ~ r r r ~ r N ~ ~ ~ M ~ O W ~ ^ O M ~ M O O `O ,O O ~ ~ ~ ag ~ ag ~ ag ~ ttr V V ~ ~ a z ~ ? •O ~ O y V = 0 y c ~ a ~ w ~ c~ ~ ~ Q o v z ~ ~ ~ ~ h a U ~ y~ ~ +J ° ° c ~ ~ c ~ ° •c t~~ /i^~, z c z_ i cn o ° ~ ~ O O z ~ r ~ L L O ~ •L ~ Q (O ~ L L W O N ~ Y Q y O C 1 O ~N+ ~ O ~ O~ C~~ ~ N Ln ~ J O B O ~ a~ ~ ~ O O a a O ~ LO n ~ c' ~ ° ° a L a n ° ° ~ ~ O a (p ~ ~ 2 0 rQ UO ~ ~ w N ~ ~ c U W o ° ~ ~ ~ ~ ~ o a ~ a~ ~ 'c Q n a ~ ~ H c a n ° m ~ ~ ° Q z ~ o ~ z ~ N ~ ~ ~ ~ W ~ a ~ ~ ~ ~ a ~ ~ c U ~ c ~ ~ n c~ o an J ~ ~ .O a O m ° U ~ a ~ ca ~ ° a ~ ° ~ ~ L m ~ ~ ° ° W ~ ~ a a a ° (~6 ~ ~ y cn a O (p ~ ~L, ~ m H ~ ~ ~ c~ ~ ~ ~ o ~ ° ° ~ ~ c ~ ~ w N ~ m L o cn cn cn 2 L ° ° H ° U ~ N ~ ~ ~ ~ ~ ~ ~ a~i U c°a ~ ~ ~ ° ca W o ~ ~ z z ~ ~ n C~ o ~ ° a~ z ~ D Z w o ° ~~O o caQ~ c~°~~~•" m~~~s ac}axs ~a ~ ° ~'z~ a~ a~ W Q N U~( U C N c /^L ~ ,~S //~o ccco otS E eR ~ N W ~ c ~ H n cn ~ ° L ° aS cn ~ ~ a~ N of ~ J ~ ~ C LL L LL C~ ~ V W ~ ~ N Y O L' IO C ~ L ~ O f/1 ` O ~ ~ ~ ~ W N ~ ~ t0 N N ~ ~ ~ L C ~ U ~ (0 .UV ~ a N ~ N a ~ ~ ~C N Id ~ a ~ ~ ~ J c c~ a~ ~ o > x x n ~ a n •c a~ ~ c ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ° ~ ca ~ ~ ~ ~ 2 O N n O O N N N n~ t0 L N G O L (p O L ~ O (6 L L L 0 0 O U= cn ~ w m~~ Q a a a U a z a w~ U w~ w~~ Q~~~~ a U~~ ~ CO f~ O ~ N M ~ LC') CO ~ N M ~ LL7 CO f~ ~ N M ~ LL7 CO f~ 07 ~ N ~ lC') 00 ~ N M M ~ Lt7 M M M ~ ~ ~ ~ ~ ~ N N N N N N N M M M M M M M M 00 00 00 00 00 67 67 67 N N N U N N N M M M M M M M M M M M M M M M M M M M M M ~ zl City of Auburn Investment Portfolio Summary As of March 31, 2010 Investment Purchase Purchase Maturity Yield to Type Date Price Date Maturity State Investment Pool Various $ 67,979,845 Various 0.22% KeyBank Money Market Various 4,695,623 Various 0.10% US Treasury 05/04/1990 57,750 05/15/2016 5.72% FHLB 7/24/2008 1, 022, 000.00 5/26/2010 4.520% FHLB 2/2/2009 1,000,000.00 2/2/2011 1.540% FHLB 2/2/2009 1,000,000.00 8/2/2011 1.840% FHLB 8/11/2009 1,000,000.00 5/11/2012 1.240% FHLB 11 /24/2009 1, 000, 000.00 11 /21 /2012 1.000% FHLB 12/29/2009 1,000,000.00 6/29/2012 1.375% FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500% FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500% FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500% FHLB 3/24/2010 2, 000, 000.00 12/24/2012 1.550% FNMA 3/25/2010 2, 000, 000.00 3/25/2013 1.850% Total Cash & Investments $ 85,755,218 0.455% Investment Mix % of Total Summary State Investment Pool 79.3% Current 6-month treasury rate 0.24% KeyBank Money Market 5.5% Current State Pool rate 0.22% US Treasury 0.1 % KeyBank Money Market 0.10% FHLB 9.4% Blended Auburn rate 0.45% FNMA 5.8% 100.0%