HomeMy WebLinkAboutJuly 2010AGENDA BILL APPROVAL FORM
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Agenda Subject: July 2010 Financial Report Date: 9/17/2010
Department: Finance Attachments: July Monthly Report Budget Impact: 0
Administrative Recommendation:
Background Summary:
The July 2010 status report highlights City revenues and expenditures and is based on financial
data available as of August 27, 2010. Sales tax reported in July is for business activities that occurred in May 2010.
Total General Fund revenues for the City at the end of July were $31,010,078 which is
approximately 63% of the annual budgeted revenues. This includes $163,898 adjustment for
Streamlined Sales Tax mitigation for July that is anticipated to be received as part of the
quarterly payment in September. Compared to budgeted year-to-date revenues, total General Fund revenue is $1.62M (5.5%) more due to the timing of receipts of property taxes and
increases in traffic infraction & photo enforcement revenues. Also included are proceeds of
general long term debt of $1,069,000 resulting from the Valley Communications bond refunding
that will be included in the next budget amendment.
Expenditures for the General Fund totaled $28,894,538 which is $2.29M (7.3 under budget at the end of July. This is primarily due to the timing of utility and intergovernmental payments
along with debt service that are paid later in the year.
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 I l
Referred to Until I l
Tabled Until I I
Councilmember: Backus Staff: Coleman
Meeting Date: September 20, 2010 Item Number:
rr~Y
t 4 ~ i ri' rr ~ :'r }1 •~K SAY J l ~ ~ I i y a fir' ti i f.. ~ ~ .i f ~ Sr 'r9 .AS ~1
1
M®nthly Financial Rep®rt July 2010
General Fund 2010 2010 YTD Budget vs. Actual Summary of Sources and Uses Favorable (Unfavorable)
Annual Budget YTD Budget YTD Actual Amount Percentage
OPERATING REVENUES
Property Tax 12,357,309 6,378,800 6,636,700 257,900 4.0%
Sales Tax (1) 14,255,000 8,311,900 8,280,665 (31,235) -0.4% Sales Tax -Annexation Credit 1,453,500 843,400 777,668 (65,732) -7.8%
Criminal Justice Sales Tax 1,143,300 659,800 712,402 52,602 8.0%
Brokered Natural Gas Tax 260,000 172,600 180,573 7,973 4.6%
City Utilities Tax 2,140,200 1,292,400 1,369,389 76,989 6.0% Admissions Tax 400,000 256,600 249,480 (7,120) -2.8%
Electric Tax 2,794,100 2,184,500 2,305,154 120,654 5.5%
Natural Gas Tax 1,245,500 1,125,600 867,960 (257,640) -22.9%
Cable TV Franchise Fee 676,300 506,900 582,815 75,915 15.0% Telephone Tax 1,934,200 992,700 1,201,679 208,979 21.1%
Garbage Tax (external) 156,000 87,100 80,870 (6,230) -7.2%
Leasehold Excise Tax 80,000 56,600 19,858 (36,742) -64.9%
Gambling Excise Tax 766,500 587,800 187,140 (400,660) -68.2% Business License Fees 200,000 167,900 94,379 (73,521) -43.8%
Building Permits 700,000 395,900 469,813 73,913 18.7%
Other Licenses & Permits 228,800 129,200 209,956 80,756 62.5%
Intergovernmental (Grants, etc) 4,524,940 2,329,300 2,421,087 91,787 3.9% Charges for Services:
General Government Services 81,000 51,800 60,262 8,462 16.3%
Public Safety 244,000 162,200 143,477 (18,723) -11.5%
Development Services Fees 702,000 463,000 304,845 (158,155) -34.2% Culture and Recreation 789,000 542,900 596,482 53,582 9.9%
Fines and Forfeits 2,107,400 1,273,700 1,604,854 331,154 26.0%
Interests and Other Earnings 170,000 124,400 87,484 (36,916) -29.7%
Rents, Leases and Concessions 243,000 150,900 210,919 60,019 39.8% Contributions and Donations 51,600 24,400 38,441 14,041 57.5%
Other Miscellaneous 46,200 27,300 142,758 115,458 422.9%
Proceeds of Gen. Long Term Debt-Refi Valley Com - - 1,069,000 1,069,000 N/A
Transfers In 61,300 61,300 61,300 - 0.0% Insurance Recoveries- Capital & Operating 55,000 32,100 42,669 10,569 32.9%
Total Operating Revenues 49,866,149 29,393,000 31,010,078 1,617,078 5.5%
Operating Expenditures
Council & Mayor 738,900 440,200 388,216 51,984 11.8% Municipal Court & Probation 3,055,280 1,786,380 1,503,375 283,005 15.8%
Human Resources 736,150 445,950 395,578 50,372 11.3%
Finance 1,170,960 731,560 639,994 91,566 12.5%
City Attorney 1,675,050 1,032,850 963,907 68,943 6.7%
Planning 3,587,170 2,218,800 1,859,480 359,320 16.2% Community & Human Services 1,070,400 557,900 562,177 (4,277) -0.8%
Police 23,650,215 13,474,315 12,309,395 1,164,920 8.6%
Engineering 2,599,010 1,581,910 1,389,719 192,191 12.1%
Parks and Recreation 6,801,200 4,038,300 3,821,416 216,884 5.4% Streets 3,093,500 1,703,800 1,484,777 219,023 12.9%
Non-Departmental 5,835,100 3,173,300 3,576,503 (403,203) -12.7%
Total Operating Expenditures 54,012,935 31,185,265 28,894,538 2,290,727 7.3%
(1J The anticipated Streamlined Sales Tax Mitigation for 2010 is $1,966,775. The year to date actual sales tax amount
is adjusted to include $977,540 SST Mitigation the City received from the State for 1St and 2nd quarter of 2010 plus
$163,898 anticipated for July.
2
M®nthly Financial Rep®rt July 2010
Overview
This financial overview reflects the City's overall financial position for the fiscal year through July
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 July, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 75% 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 July is $6,636,700 or 53.7% of the $12,357,509 annual
budget. Compared to 2009, the City collected $1,164,167 or 21.3% more for the same period.
At the end of the July, property tax revenue is $257,900 or 4.0% more than the year to date
budget and is in line with the budget.
Property Tax Revenue
Year to Date through July 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
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 4,877,655 688,822 16.4% (4,745) -0.1%
May 852,588 993,800 1,200,112 347,524 40.8% 206,312 20.8%
Jun 37,763 44,000 76,369 38,606 102.2% 32,369 73.6%
Jul 21,078 24,600 29,190 8,112 38.5% 4,590 18.7%
Au 32,632 38,000
Sep 196,787 229,400 Oct 3,836,015 4,471,109
Nov 1,017,258 1,185,700
Dec 46,566 54,300
YTD Total 5,472,533 6,378,800 6,636,700 1,164,167 21.3% 257,900 4.0%
Annual Total 10,601,791 12,357,309
3
M®nthly Financial Rep®rt July 2010
Sales Tax
As of the end of July, the year to date sales tax revenue of $8,280,665 is $254.3K more than
2009 and $31.2K less than the current YTD budget. Also at mid year, the City has received
$997,540 of the total anticipated SST mitigation of $1,966,775 for 2010. The total for July
includes an estimated $163,898 monthly prorated share of the quarterly payment that will be
received in September. The actual amount of Streamlined Sales Tax 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 & Use Tax Revenue
Year to Date through July
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 1,495,567 453,595 43.5% 429,267 40.3%
May 1,161,471 1,249,400 1,190,021 28,550 2.5% (59,379) -4.8%
Jun 1,098,038 1,144,900 1,045,316 (52,722) -4.8% (99,584) -8.7%
Jul 1,152,738 1,180,300 1,105,463 (47,276) -4.1% (74,837) -6.3% 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 8,026,393 8,311,900 8,280,665 254,273 3.2% (31,235) -0.4%
Annual Total 13,942,728 14,255,000
Includes Sales Tax Mitigation prorated monthly.
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 July
2009 2010 Chan a from 2009
Component Group Actual Actual Amount Percenta e
New Construction 755,912 680,825 (75,087) -9.9%
Manufacturing 245,703 221,723 (23,980) -9.8%
Transportation & Warehousing 16,994 16,948 (46) -0.3%
Wholesale Trade 603,703 641,481 37,778 6.3%
Automotive 1,388,044 1,425,710 37,666 2.7%
Retail Trade 2,126,090 2,071,010 (55,080) -2.6%
Services 1,689,831 2,019,714 329,883 19.5% Miscellaneous 22,604 88,543 65,939 291.7%
YTD Total 6,848,881 7,165,954 317,073 4.6%
4
M®nthly Financial Rep®rt July 2010
Utilit Tax
This revenue source consists of City inter-fund utility taxes (1Xlater, Sewer, Storm and Solid Waste)
and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility
tax revenue is $5,825,052 which is $669.3K (10.3%) less than 2009 primarily due to the City
lnterfund utility taxes and a decrease in the Natural Gas utility tax. There was a temporary
increase in the City inter-fund tax for Solid Waste from November 2008 through October 2009.
In addition, record breaking warm winter temperatures in 2010 contributed the decrease in the
Natural Gas utility tax. Overall, the 2010 actual revenues are greater by $142.8K or 2.5% more than budgeted tax revenues. The main source of this increase is attributed to higher revenues
in
the telephone utility tax. An adjustment to increase estimated revenues for telephone utility tax
by $200K was included in the mid year budget amendment and is reflected in this report.
Utility Tax Revenues
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
Jan 1,329,027 1,198,800 1,258,792 (70,236) -5.3% 59,992 5.0%
Feb 592,186 482,100 483,456 (108,730) -18.4% 1,356 0.3%
Mar 304,496 223,800 416,213 111,717 36.7% 192,413 86.0%
Apr 1,911,964 1,758,200 1,505,874 (406,090) -21.2% (252,326) -14.4%
May 575,114 469,900 492,247 (82,867) -14.4% 22,347 4.8%
Jun 441,229 345,000 365,171 (76,058) -17.2% 20,171 5.8% Jul 1,340,355 1,204,500 1,303,301 (37,054) -2.8% 98,801 8.2%
Aug 621,691 504,300
Sep 453,881 357,300
Oct 1,123,629 987,100
Nov 516,516 433,900
Dec 376,459 305,100
YTD Total 6,494,371 5,682,300 5,825,052 (669,319) -10.3% 142,752 2.5%
Annual Total 9,586,547 8,270,000
The following table presents utility tax by source:
Utilty Tax by Type
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
City lnterfund Utility Taxes 1,854,537 1,292,400 1,369,389 (485,148) -26.2% 76,989 6.0%
Electric 2,346,398 2,184,500 2,305,154 (41,245) -1.8% 120,654 5.5%
Natural Gas 1,118,118 1,125,600 867,960 (250,158) -22.4% (257,640) -22.9%
Telephone 1,090,650 992,700 1,201,679 111,029 10.2% 208,979 21.1%
Solid 1XJaste 84,668 87,100 80,870 (3,798) -4.5% (6,230) -7.2%
YTD Total 6,494,371 5,682,300 5,825,052 (669,319) -10.3% 142,752 2.5%
Annual Total 9,586,547 8,270,000
5
M®nthly Financial Rep®rt July 2010
Cable TV Franchise Fees are received quarterly and are shown on the table below. This is
$23.4K or 4.2% more than the previous year for the same period and is $75.9K or 15.0%
greater than the 2010 year to date budget.
Cable T~1 Franchise Fee
Year to Date through July
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 - - 194,032 194,032 N/A 194,032 N/A
May 184,011 166,800 - (184,011) -100.0% (166,800) -100.0%
Jun - - - - N/A - N/A
Jul 186,766 169,200 195,778 9,012 4.8% 26,578 15.7%
Au - -
Sep - -
Oct 186,910 169,400 Nov - -
Dec - -
YTD Total 559,370 506,900 582,815 23,445 4.2% 75,915 15.0%
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 July, the City has collected 68.6% of the annual
projected revenue from licenses and permits. Building permit fees and Business licenses make up
80% of the annual budgeted revenue in this category and the following tables present detail
information for each.
Building Permits
Year to Date through July
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 44,422 (41,295) -48.2% (7,378) -14.2%
May 44,732 47,100 96,244 51,512 115.2% 49,144 104.3% Jun 158,105 49,800 74,701 (83,404) -52.8% 24,901 50.0%
Jul 90,765 62,900 72,745 (18,020) -19.9% 9,845 15.7%
Aug 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 460,709 395,900 469,813 9,104 2.0% 73,913 18.7%
Annual Total 835,478 700,000
6
M®nthly Financial Rep®rt July 2010
Total building permit revenues at the end of July were $469,813. This was $9.1 K greater than
2009 for the same period and $73.9K or 18.7% more than budgeted revenues in 2010. The
increase from 2009 is primarily due to the developments at Trail Run and North Tapps Estates.
Business License revenues at the end of July are $81K or 46.2% less than 2009 and $73.5K or
43.8% less than the 2010 year to date budget. This revenue source is low due to a change in
timing of payments. In prior years, payments made mid year were fora 12 month period. In
2010 these payments are only for the last 6 months of the year. Business license fees will be
billed again in December to cover a full year in 2011.
Business License
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 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% (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 4,342 390 9.9% 542 14.3%
May 4,289 4,200 1,987 (2,303) -53.7% (2,214) -52.7%
Jun 102,500 98,000 22,171 (80,330) -78.4% (75,830) -77.4%
Jul 49,110 47,000 53,961 4,851 9.9% 6,961 14.8% Aug 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 175,441 167,900 94,379 (81,062) -46.2% (73,521) -43.8%
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. Although the Muckleshoot
compact revenue has not been received as it is currently being negotiated, the year to date
revenues are greater compared to 2009 actual and 2010 YTD budget due to the timing of grant
reimbursements.
Intergovernmental
Year to Date through July
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual °lo Chan e % Chan e
Federal Grants 33,138 121,000 328,340 890.8% 171.4%
State Grants 59,489 39,300 79,925 34.4% 103.4%
lnterlocal Grants 33,421 77,800 101,705 204.3% 30.7% State Shared Revenue 1,453,731 1,516,800 1,542,887 6.1% 1.7%
Muckleshoot Casino Emer . 691,455 484,200 368,231 -46.7% -24.0%
YTD Total 2,271,235 2,239,100 2,421,087 6.6% 8.1%
Annual Total 4,499,411 4,524,940
YTD % 50% 49% 54%
7
M®nthly Financial Rep®rt July 2010
Total state shared revenues are greater than 2009 for the same period and to 2010 YTD budget
due to higher liquor profits and the new revenue source for Criminal Justice-High crime. Based
on crime statistics, beginning on July 2010 the City will receive this revenue in place of Criminal
Justice- population.
State Shared Revenues
Year to Date through July 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
Trial Court Improvements 12,395 16,700 11,360 (1,035) -8.35% (5,340) -31.98% Court Interpreter Program 10,205 - - (10,205) -100.00% - N/A
Motor Vehicle Fuel Tax 812,848 850,100 821,033 8,186 1.0% (29,067) -3.4%
Criminal Justice -High Crime - - 37,276 37,276 N/A 37,276 N/A
Criminal Justice -Population 49,605 51,300 37,878 (11,727) -23.6% (13,422) -26.2%
Criminal Justice -Spec. Prog. 41,050 24,600 42,497 1,448 3.5% 17,897 72.8% State DUl 9,138 3,000 9,409 271 3.0% 6,409 213.6%
Fire Insurance Premium Tax 59,677 60,000 63,545 3,868 6.5% 3,545 5.9%
Liquor Excise Tax 237,591 238,400 244,986 7,396 3.1% 6,586 2.8%
Liquor Profits 221,223 272,700 274,901 53,678 24.3% 2,201 0.8%
YTD Total 1,453,731 1,516,800 1,542,887 89,156 6.1% 26,087 1.7%
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 82% of the $1,816,000 annual budget for this category and are presented
following the Charges for Service table below. At the end of July $1,105,066 or 61% of the
annual 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 primarily because the City received $12,394 for court services from the City of Algona in January 2009 for
prior
year services. The mid year budget amendment included a reduction for City of Algona court
charges since 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; overall
this revenue source is 11.5% less than budget at the end of July due to decreased probation
revenues. Probation fees account for $118.8K of the $143.5K received to date for this category.
Charges for Services by Type
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
General Government 71,933 51,800 60,262 (11,671) -16.22% 8,462 16.34% Public Safety 167,185 162,200 143,477 (23,708) -14.2% (18,723) -11.5%
Development Services 326,104 463,000 304,845 (21,259) -6.5% (158,155) -34.2%
Culture & Recreation 572,622 542,900 596,482 23,860 4.2% 53,582 9.9%
Liquor Profits 221,223 272,700 274,901 53,678 24.3% 2,201 0.8%
YTD Total 1,137,844 1,219,900 1,105,066 (32,778) -2.9% (114,834) -9.4%
Annual Total 1,683,495 1,816,000
8
M®nthly Financial Rep®rt July 2010
Development Services include Engineering fees, zoning & subdivision fees and plan check fees. At
the end of July, year to date revenues totaled $304,845 and is 6.5% or $21K less for the same
period in 2009. This is mainly the result of increased revenues in June 2009 due to zoning and
subdivision fees related to the Kersey 3 development and plan check fees for the Kersey 3 water
pump station. Total development service revenue is less than the budget for the year by $158K
or 34.2% due to lower than anticipated engineering fees revenue. We will continue to monitor
this revenue source to verify if it is in line with the budget.
Development Service Fees
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 51,833 73,600 39,755 (12,078) -23.3% (33,845} -46.0% Feb 46,818 66,500 53,677 6,859 14.7% (12,823) -19.3%
Mar 29,147 41,400 82,904 53,757 184.4% 41,504 100.3%
Apr 45,238 64,200 28,762 (16,476) -36.4% (35,438} -55.2%
May 23,450 33,300 18,069 (5,381} -22.9% (15,231} -45.7%
Jun 86,974 123,500 38,276 (48,698} -56.0% (85,224) -69.0%
Jul 42,644 60,500 43,402 758 1.8% (17,098) -28.3% Au 53,060 75,300
Sep 32,404 46,000
Oct 15,079 21,400
Nov 26,650 37,800
Dec 41,227 58,500
YTD Total 326,104 463,000 304,845 (21,259) -6.5% (158,155) -34.2%
Annual Total 494,524 702,000
Culture & Recreation revenues consist of theater ticket sales, recreational classes, arts commission
and senior citizen program fees. Total revenue at the end of July shows an increase of $23.8K
from 2009 and $53.6K greater than 2010 YTD budget. July increases are mainly due to success
of the youth theater, teen and day camp programs.
Culture & Recreation
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 71,561 67,900 65,917 (5,644) -7.9% (1,983) -2.9% Feb 51,878 49,200 57,959 6,081 11.7% 8,759 17.8%
Mar 124,525 118,100 133,930 9,405 7.6% 15,830 13.4%
Apr 81,520 77,200 69,877 (11,643) -14.3% (7,323) -9.5%
May 75,505 71,600 70,119 (5,386) -7.1% (1,481) -2.1%
Jun 90,011 85,300 109,364 19,353 21.5% 24,064 28.2% Jul 77,622 73,600 89,315 11,693 15.1% 15,715 21.4%
Aug 66,639 63,200
Sep 61,305 58,100
Oct 41,086 39,000
Nov 44,066 41,800 Dec 46,428 44,000
YTD Total 572,622 542,900 596,482 23,860 4.2% 53,582 9.9%
Annual Total 832,146 789,000
9
M®nthly Financial Rep®rt July 2010
Fines & Penalties
This revenue category includes traffic and parking infraction penalties, criminal (traffic, non traffic
and costs) false alarm and shopping cart fines. Year to date, this revenue source is $467,865 or
41.1% greater than 2009 for the same period and $331,154 or 26% higher than the projected
budget. The overall increase is primarily due to the rise in the traffic infraction and photo
enforcement revenues. Civil penalties and Traffic infractions revenue were also budgeted
conservatively and contributed to the overall increase between the year to date actual revenues
and budget.
Fines & Forfeits by Month
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 148,141 173,900 236,675 88,534 59.8% 62,775 36.1%
Feb 153,213 179,200 223,295 70,082 45.7% 44,095 24.6%
Mar 168,348 190,800 252,739 84,391 50.1% 61,939 32.5%
Apr 165,420 177,100 239,856 74,436 45.0% 62,756 35.4%
May 174,475 187,700 228,603 54,128 31.0% 40,903 21.8%
Jun 168,280 181,500 204,577 36,297 21.6% 23,077 12.7% Jul 159,112 183,500 219,109 59,997 37.7% 35,609 19.4%
Au 144,593 164,000
Sep 135,201 147,000
Oct 140,945 150,300
Nov 151,870 173,800
Dec 210,746 198,600
YTD Total 1,136,989 1,273,700 1,604,854 467,865 41.1% 331,154 26.0%
Annual Total 1,920,344 2,107,400
Fines & Forfeits by Type
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Civil Penalties 12,381 8,600 14,231 1,849 14.9% 5,631 65.5°l0
Civil Infraction Penalties 373,134 270,000 472,075 98,941 2b.5% 202,075 74.8%
Red Light Photo Enforcement 508,771 b85,300 816,305 307,533 60.4% 131,005 19.1%
Parking Infractions 85,676 95,800 113,022 27,34b 31.9% 17,222 18.0%
Criminal Traffic Misdemeanor 55,687 65,500 60,188 4,501 8.1% (5,312) -8.1%
Criminal Non-Traffic Fines 77,871 60,400 72,008 (5,8b4) -7.5% 11,608 19.2%
Criminal Costs 8,142 13,300 7,120 (1,022) -12.6% (6,180) -46.5% Non-Court Fines & Penalties 15,325 74,800 49,90b 34,581 225.7% (24,894) -33.3°l0
YTD Total 1,136,989 1,273,700 1,604,854 4b7,8b7 41.1% 331,154 2b.0%
Annual Total 1,920,344 2,107,400
10
M®nthly Financial Rep®rt July 2010
Photo Enforcernent
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta e 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 91,600 122,490 52,433 74.8% 30,890 33.7%
May 78,746 103,000 117,742 38,996 49.5% 14,742 14.3% Jun 76,980 100,700 98,202 21,222 27.6% (2,498) -2.5%
Jul 79,382 103,800 122,177 42,795 53.9% 18,377 17.7%
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 508,771 685,300 816,305 307,533 60.4% 131,005 19.1%
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 $510,800 and interest & investment and rentals & leases make up 81% 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
0.27% in July 2010. The increase in rentals & leases is primarily from Parks facility rentals. Contributions & donations are high because of increases in the Parks contributions and
donations
account that fund parks special programs such as the senior wellness and teen programs. Other
miscellaneous revenue is budgeted conservatively and year to date receipts are greater than 2009
receipts & 2010 budget due to reimbursements for prior year general fund expenditures.
Miscellaneous Revenues by Type
Year to Date through July
2009 2010 2010 2010 vs. 2009 2010 vs. Budget
Month Actual Budget Actual Amount Percentage Amount Percentage
Interest & Investments 130,752 124,400 87,484 (43,268) -33.1°l0 (36,916) -29.7%
Rents & Leases 176,210 150,900 210,919 34,709 19.7% 60,019 39.8%
Contributions 6~ Donations 53,023 24,400 38,441 (14,582) -27.5% 14,041 57.5%
Other Miscellaneous Revenue 46,862 27,300 142,758 95,896 204.6% 115,458 422.9%
YTD Total 406,847 327,000 479,601 72,754 17.9% 152,601 46.7%
Annual Total 664,307 510,800
11
M®nthly Financial Rep®rt July 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. In July, year to date revenue of $741,642 is
$41.3K or 5.3% less than the projected budget. This is $63.6K or 9.4% more than 2009 for the
same period and reflects the slow recovery in the commercial and residential market.
Real Estate Excise Tax Revenues
Year to Date through July 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Budget Actual Amount Percentage Amount Percentage
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 89,679 13,848 18.3% 2,079 2.4%
May 68,846 79,500 207,808 138,962 201.8% 128,308 161.4%
Jun 141,704 163,600 153,434 11,730 8.3% (10,166) -6.2%
Jul 106,672 123,200 114,879 8,208 (8,321) -6.8%
Aug 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 678,043 783,000 741,642 63,599 9.4% (41,358) -5.3%
Annual Total 1,558,926 1,800,000
12
M®nthly Financial Rep®rt July 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 5,024,067 9,110,661 3,730,342 5,373,030 15,436 412,910 861,107
Rents, Leases, Concessions & Other - - - - 361,629 - 6,390
TOTAL OPERATING REVENUES 5,024,067 9,110,661 3,730,342 5,373,030 377,065 412,910 867,498
OPERATING EXPENSES:
Administration 1,355,339 1,034,913 1,247,829 423,407 281,227 158,492 122,629
Operations & Maintenance 2,473,645 7,498,129 1,373,337 4,662,048 81 390,547 707,038
Depreciation & Amortization 1,234,977 805,222 638,967 11,978 126,892 33,366 197,702 33,328
TOTAL OPERATING EXPENSES 5,063,962 9,338,263 3,260,133 5,097,434 408,200 582,405 1,027,369 33,328
OPERATING INCOME (LOSS) (39,895) (227,603) 470,209 275,596 (31,135) (169,495) (159,872) (33,328)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 24,998 32,255 12,979 1,618 2,134 453 -
OtherNon Operating Revenue 12,988 4,103 82,287 568 113,684 307 14,812
Other Non Operating Expense (135,257) (120,045) (100,000) - (28,938) (11,134) (99,297)
TOTAL NON-OPERATING REVENUES (EXPENSES) (97,271) (83,688) (4,734) 2,186 86,880 (10,374) (84,485)
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS (137,166) (311,290) 465,476 277,782 55,745 (179,869) (244,357) (33,328)
Contributions 286,856 149,773 169,159 - - - -
Transfers In 49,517
Transfers Out (58,600) (58,200) (62,800) (900) - - -
TOTALCONTRIBUTIONS & TRANSFERS 228,256 91,573 106,359 (900) - - 49,517
CHANGE IN FUND BALANCE 91,090 (219,717) 571,835 276,882 55,145 (179,869) (194,839) (33,328)
BEGINNING FUND BALANCE, January 1, 2010 58,580,941 64,391,028 39,620,492 1,576,387 9,687,653 1,114,074 5,501,774 1,473,941
ENDING FUND BALANCE, July 31, 2010 58,672,031 64,171,311 40,192,326 1,853,269 9,743,399 934,205 5,306,935 1,440,613
Solid Waste operating expenses are low due to timing of invoices from Waste Management. July
billing of $637,031 was posted in August.
13
M®nthly Financial Rep®rt July 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 - 1,515,234 2,276,211 1,441,309
Rents, Leases, Concessions & Other - 64,113 48,720 - TOTALOPERATING REVENUES - 1,579,347 2,324,931 1,441,309
OPERATING EXPENSES: Administration 612,389 - 86,373 324,227
Operations & Maintenance - 1,121,046 1,852,056 712,070
Depreciation & Amortization - - 277,854 605,323
TOTAL OPERATING EXPENSES 612,389 1,121,046 2,216,283 1,641,620
OPERATING INCOME (LOSS) (612,389) 458,301 108,648 (200,311)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 2,888 1,096 7,178 9,458 Other Non Operating Revenue - 150 5,789 17,544
Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES) 2,888 1,246 12,967 27,001
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (609,502) 459,547 121,614 (173,309)
Contributions - - 10,950 90,964
Transfers In 238,600
Transfers Out - - (29,500) (22,400) TOTAL CONTRIBUTIONS & TRANSFERS 238,600 - (18,550) 68,564
CHANGE IN FUND BALANCE (370,902) 459,547 103,064 (104,745)
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, July 31, 2010 1,863,568 667,184 5,017,910 10,788,194
The Insurance Fund expenses include $512,351 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 $10,788,194 includes over $5.1 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: htt ://www.auburnwa.~ov/. For any questions about the report please
contact us at kjester(~auburnwa.~ov or scoleman(~auburnwa.~ov.
14
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City of Auburn
Investment Portfolio Summary
As of J u ly 31, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 71,839,986 Various 0.28% KeyBank Money Market Various 6,596,178 Various 0.10%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
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 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%
FNMA 5/13/2010 1, 725, 000.00 12/24/2013 1.550%
FHLB 5/20/2010 2,500,000.00 2/20/2013 1.625%
FHLMC 6/24/2010 2,000,000.00 12/24/2013 1.750%
FNMA 6/30/2010 1, 000, 000.00 12/30/2013 1.750%
Total Cash & I nvestments 0.511
Investment Mix % of Total Summary State Investment Pool 75.1 % Current 6-month treasury rate 0.20%
KeyBank Money Market 6.9% Current State Pool rate 0.28%
US Treasury 0.1 % KeyBank Money Market 0.10%
FHLB 7.8% Blended Auburn rate 0.51%
FNMA 8.1%
FHLMC 2.1%
100.0%
16