HomeMy WebLinkAboutDecember 2010AGENDA BILL APPROVAL FORM
* SASH II'Ti
Agenda Subject: December 2010 Financial Report Date: 02/22/2011
Department: Finance Attachments: December Monthly Budget Impact: 0 Report
Administrative Recommendation:
Background Summary:
The December 2010 status report highlights City revenues and expenditures and is based on
financial data available as of February 03, 2010 and does not include accrual entries. Sales tax reported in December is for business activities that occurred in October 2010.
Total General Fund revenues for the City at the end of December were $53,459,278 which is
approximately 2% over the annual budgeted revenues. Compared to budgeted year-to-date
revenues, total General Fund revenue is $1.47M more primarily due higher than anticipated revenues from fines and forfeits, property, sales and city utility taxes.
Expenditures for the General Fund totaled $51,203,026 which is $5.63M (9.9%) under budget at
the end of December. This is due primarily from savings in salaries and benefits, along with
unspent budget on professional services, intergovernmental services and transfers out.
Included in this balance is $650K budget for SCORE start up transition costs that will be carried
forward into 2011; $388.5K balance in contracted jail services, and $990.2K balance in professional services. In addition there was $503.8K budget for transfers out that was not
needed.
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: February 22, 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
Monthly Financial Report December 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 12,357,309 12,669,811 312,502 2.5°l0 Sales Tax (1) 14,255,000 14,255,000 14,482,806 227,806 1.6%
Sales Tax -Annexation Credit 1,453,500 1,453,500 1,408,532 (44,968) -3.1°l0
Criminal Justice Sales Tax 1,143,300 1,143,300 1,248,969 105,669 9.2°l0 Brokered Natural Gas Tax 260,000 260,000 268,824 8,824 3.4°l0
City Utilities Tax 2,140,200 2,140,200 2,385,233 245,033 11.4%
Admissions Tax 400,000 400,000 362,506 (37,494) -9.4% Electric Tax 2,794,100 2,794,100 2,995,902 201,802 7.2°l0
Natural Gas Tax 1,245,500 1,245,500 989,346 (256,154) -20.6%
Cable TV Franchise Fee 676,300 676,300 794,731 118,431 17.5°l0
Telephone Tax 1,934,200 1,934,200 2,068,058 133,858 6.9°l0 Garbage Tax (external) 156,000 156,000 152,720 (3,280) -2.1°l0
Leasehold Excise Tax 80,000 80,000 37,985 (42,015) -52.5°l0
Gambling Excise Tax 466,500 466,500 259,071 (207,429) -44.5% Business License Fees 200,000 200,000 215,268 15,268 7.6°l0
Building Permits 700,000 700,000 769,678 69,678 10.0°l0
Other Licenses & Permits 228,800 228,800 326,971 98,171 42.9% intergovernmental (Grants, etc) 4,536,100 4,536,100 4,093,323 (442,777) -9.8%
Charges for Services:
General Government Services 81,000 81,000 84,627 3,627 4.5%
Public Safety 244,000 244,000 230,187 (13,813) -5.7% Development Services Fees 702,000 702,000 687,729 (14,271) -2.0%
Culture and Recreation 814,000 814,000 858,661 44,661 5.5%
Fines and Forfeits 2,107,400 2,107,400 2,472,411 365,011 17.3°l0 interests and Other Earnings 170,000 170,000 152,158 (17,842) -10.5%
Rents, Leases and Concessions 543,000 543,000 575,102 32,102 5.9°l0
Contributions and Donations 51,600 51,600 58,160 6,560 12.7%
Other Miscellaneous 46,200 46,200 113,959 67,759 146.7°l0 Proceeds of Gen. Long Term Debt-Refi Valley Com 1,069,000 1,069,000 1,069,000 - 0.0°l0
Transfers In 1,501,913 1,501,913 1,501,913 - 0.0°l0
insurance Recoveries- Capital & Operating 55,000 55,000 125,642 70,642 128.4% Total Operating Revenues 52,411,922 52,411,922 53,459,278 1,047,356 2.0°l0
Operating Expenditures
Council & Mayor 738,900 738,900 672,058 66,842 9.0°l0 Municipal Court & Probation 3,055,280 3,055,280 2,769,564 285,716 9.4°l0
Human Resources 736,150 736,150 704,313 31,837 4.3°l0
Finance 1,170,960 1,170,960 1,101,620 69,340 5.9°l0
City Attorney 1,675,050 1,675,050 1,571,983 103,067 6.2°l0 Planning 3,587,170 3,587,170 3,252,612 334,558 9.3°l0
Community & Human Services 1,070,400 1,070,400 839,807 230,593 21.5°l0
Police 23,650,215 23,650,215 22,056,429 1,593,786 6.7°l0 Engineering 2,665,210 2,665,210 2,475,737 189,473 7.1%
Parks and Recreation 6,826,100 6,826,100 6,631,156 194,944 2.9°l0
Streets 3,093,500 3,093,500 2,770,364 323,136 10.4% Non-Departmental 8,565,100 8,565,100 6,357,383 2,207,717 25.8°l0
Total Operating Expenditures 56,834,035 56,834,035 51,203,026 5,631,009 9.9°l0
(1) includes total Streamlined Sales Tax Mitigation of $1,965,472.
2
Monthly Financial Report December 2010
®verview
This financial overview reflects the City's overall financial position for the fiscal year through
December 31, 2010. The report represents financial data available as of February 3, 2010 and
does not include accrual entries. 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 December, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 75.1% of all resources supporting general governmental activities. The
following section provides detail information on property and sales taxes.
Property Tax
Year to date collection at the end of December is $12,669,811 and is 1.03% greater than the
$12,357,309 annual budget. Compared to 2009, the City collected $2,068,019 or 19.5% more
for the same period. At the end of the December, property tax revenue is $312,502 or 2.5%
more than the year to date budget and is in line with the budget.
Property Tax Revenue
Year to Date through December
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%
Aug 32,632 38,000 54,328 21,696 66.5% 16,328 43.0%
Sep 196,787 229,400 189,677 (7,110) -3.6% (39,723) -17.3%
Oct 3,836,015 4,471,109 4,657,943 821,928 21.4% 186,834 4.2%
Nov 1,017,258 1,185,700 1,051,178 33,920 3.3% (134,522) -11.3%
Dec 46,566 54,300 79,985 33,419 71.8% 25,685 47.3%
YTD Tota( 10,601,791 12,357,309 12,669,811 2,068,019 19.5% 312,502 2.5%
Annual Total 10,601,791 12,357,309
3
Monthly Financial Report December 2010
Sales Tax
At the end of December, the year to date sales tax revenue of $14,482,806 is $540.1K more than
2009 and $227.8K more than the current YTD budget. Also at the end of 4t" quarter, the City
has received $1,965,472 of the total anticipated SST mitigation of $1,966,775 for 2010. 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 December
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 1,104,591 (48,147) -4.2% (75,709) -6.4%
Au 1,250,264 1,302,700 1,302,641 52,377 4.2% (59) 0.0%
Sep 1,148,525 1,147,700 1,221,393 72,868 6.3% 73,693 6.4°l0 Oct 1,254,457 1,200,400 1,171,092 (83,366) -6.6% (29,308) -2.4%
Nov 1,197,153 1,175,200 1,368,390 171,236 14.3% 193,190 16.4%
Dec 1,065,935 1,117,100 1,139,497 73,562 6.9% 22,397 2.0%
YTD Total 13,942,728 14,255,000 14,482,806 540,078 3.9% 227,806 1.6°l0
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 December
2009 2010 Chan a from 2009
Com onent Grou Actual Actual Amount Percenta e
New Construction 1,368,217 1,322,309 (45,908) -3.4%
Manufacturin 383,469 411,068 27,599 7.2%
Transportation & Warehousin 30,826 29,084 (1,742) -5.7%
Wholesale Trade 1,072,965 1,179,855 106,890 10.0%
Automotive 2,559,064 2,552,662 (6,402) -0.3%
Retail Trade 3,580,729 3,589,803 9,074 0.3%
Services 2,867,488 3,309,814 442,326 15.4%
Miscellaneous 46,456 128,195 81,739 175.9%
YTD Total 11,909,214 12,522,790 613,576 5.2%
4
Monthly Financial Report December 2010
Utilit Tax
This revenue source consists of City inter-fund utility taxes (Water, Sewer, Storm and Solid Waste)
and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility
tax revenue is $8,591,258 which is $995.3K (10.4%) less than 2009 primarily due to the City Interfund 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 $ 321.3 K or 3.9% more
than budgeted tax revenues. The main source of this increase is attributed to higher than
anticipated revenues from the electric and inter-fund utility taxes.
Utility Tax Revenues
Year to Date through December
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 621,691 504,300 458,060 (163,631) -26.3% (46,240) -9.2%
Sep 453,881 357,300 364,769 (89,112) -19.6% 7,469 2.1%
Oct 1,123,629 987,100 1,181,926 58,297 5.2% 194,826 19.7%
Nov 516,516 433,900 427,125 (89,391) -17.3% (6,775) -1.6%
Dec 376,459 305,100 334,326 (42,133) -11.2% 29,226 9.6%
YTD Total 9,586,547 8,270,000 8,591,258 (995,289) -10.4% 321,258 3.9%
Annual Total 9,586,547 8,270,000
The following table presents utility tax by source:
Utilty Tax by Type
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
City Interfund Utility Taxes 3,071,411 2,140,200 2,385,233 (b86,178) -22.3% 245,033 11.4%
Electric 3,001,175 2,794,100 2,995,902 (5,274) -0.2% 201,802 7.2%
Natural Gas 1,237,186 1,245,500 989,34b (247,840) -20.0% (256,154) -20.6%
Telephone 2,125,160 1,934,200 2,068,058 (57,102) -2.7% 133,858 6.9%
Solid Waste 151,b15 156,000 152,720 1,105 0.7% (3,280) -2.1%
YTD Total 9,586,547 8,270,000 8,591,258 (995,289) -10.4% 321,258 3.9%
Annual Total 9,586,547 8,270,000
5
Monthly Financial Report December 2010
Cable TV Franchise Fees are received quarterly and are shown on the table below. This is
$48.5K or 6.5% more than the previous year for the same period and is $118.4K or 17.5%
greater than the 2010 year to date budget.
Cable T~1 Franchise Fee
Year to Date through December
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 - - - - N/A - N/A
Sep - - - - N/A - N/A
Oct 186,910 169,400 211,916 25,006 13.4% 42,516 25.1% Nov - - - - N/A - N/A
Dec - - - - N/A - N/A
YTD Total 746,280 676,300 794,731 48,451 6.5% 118,431 17.5%
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 December, the City has collected 116.2% 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 December
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 61,216 6,360 11.6% (34,984) -36.4%
Sep 42,615 68,300 55,073 12,458 29.2% (13,227) -19.4%
Oct 83,041 45,300 62,522 (20,519) -24.7% 17,222 38.0%
Nov 56,606 38,200 31,192 (25,414) -44.9% (7,008) -18.3%
Dec 137,651 56,100 89,861 (47,790) -34.7% 33,761 60.2%
YTD Total 835,478 700,000 769,678 (65,800) -7.9% 69,678 10.0%
Annual Total 835,478 700,000
6
Monthly Financial Report December 2010
Total building permit revenues at the end of December were $769,678. This was $65.8K lower
than 2009 for the same period and $69.7K or 10.0% more than budgeted revenues in 2010.
The increase in December of 2009 was primarily due to the developments at North Tapps Estates
and the Wal-Mart Super Center.
Business License revenues at the end of December were $6.2K or 3.0% more than 2009 and
$15.3K or 7.6% more than the 2010 year to date budget. Prior to December, this revenue
source appeared low compared to 2009 receipts and 2010 budget due to the change in timing of
payments. In prior years, payments received mid year were fora 12 month period; in 2010 these
payments are only for the last 6 months of the year. Business license fees were billed again in December to cover a full year in 2011.
Business License
Year to Date through December
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 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 13,403 1,342 11.1% 1,903 16.5%
Sep 6,271 6,000 6,850 579 9.2% 850 14.2% Oct 6,277 6,000 4,940 (1,338) -21.3% (1,061) -17.7%
Nov 5,229 5,000 3,468 (1,762) -33.7% (1,533) -30.7%
Dec 3,810 3,600 92,229 88,419 2320.7% 88,629 2461.9%
YTD Total 209,089 200,000 215,268 6,179 3.0% 15,268 7.6%
Annual Total 209,089 200,000
lnter~overnmental
Revenues in this category include Grants (Direct & Indirect Federal, State and Local), State shared
revenues and compact revenue from the Muckleshoot Indian Tribe. At the end of December
Intergovernmental revenues are 9.1% less than 2009 and 9.8% less than YTD budget because
the remaining 2010 revenue for the Muckleshoot compact is not reflected in this report as it was
received in January 27, 2011. Timing of grant revenue varies as they are processed on a
reimbursement basis; there is currently $143.7K grant revenue that have been accrued but not
included in the followin table.
Intergovernmental
Year to Date through December
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual % Chan e °1o Chan e
Federal Grants 236,644 681,700 538,796 127.7% -21.0%
State Grants 150,104 91,500 128,231 -14.6% 40.1%
Interlocal Grants 218,755 157,000 143,163 -34.6% -8.8%
State Shared Revenue 2,465,986 2,605,900 2,594,749 5.2% -0.4%
Muckleshoot Casino Emerg. 1,427,921 1,000,000 684,863 -52.0% -31.5%
YTD Total 4,499,411 4,536,100 4,089,803 -9.1% -9.8%
Annual Total 4,499,411 4,536,100
YTD % 100% 100% 90%
7
Monthly Financial Report December 2010
Total state shared revenues are greater than 2009 actual for the same period 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.
At the end of December, total state shared revenues are in line with the budget and are only
$11.2 K or 0.4% lower than year to date bud et.
State Shared Revenues
Year to Date through December 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
Trial Court Improvements 18,597 25,000 22,638 4,041 21.73% (2,362) -9.45% Court Interpreter Program 15,757 11,160 4,518 (11,238) -71.32% (6,642) N/A
Motor vehicle Fuel Tax 1,457,666 1,524,455 1,461,709 4,043 0.3% (62,746) -4.1%
Criminal Justice -Hi h Crime - - 74,525 74,525 N/A 74,525 N/A
Criminal Justice -Population 6b,695 69,000 41,688 (25,007) -37.5% (27,312) -39.6%
Criminal Justice -Spec. Prog. 55,171 33,000 56,884 1,712 3.1% 23,884 72.4% State DUI 21,918 7,000 12,510 (9,407) -42.9% 5,510 78.7%
Fire Insurance Premium Tax 59,677 60,000 63,545 3,868 6.5% 3,545 5.9%
liquor Excise Tax 320,885 321,985 327,709 6,824 2.1% 5,724 1.8%
liquor Profits 449,b20 554,300 529,022 79,402 17.7% (25,278) -4.6%
YTD Total 2,465,986 2,605,900 2,594,749 128,763 5.2% (11,151) -0.4%
Annual Total 2,465,986 2,605,900
Charles for Services
This revenue source consists 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 $1,841,000 annual budget for this category and are presented
following the Charges for Service table below. At the end of December $1,861,204 or 1.01% 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 is no longer receiving service revenue from the City of Algona.
Public Safety consists of law enforcement services, probation and prisoner lodging fees; overall
this revenue source is 5.7% less than budget at the end of December due to decreased probation
revenues and law enforcement service revenue related to the amphitheater events. Probation
fees account for $196.8K of the $230.2K received to date for this category.
Charges for Services by Type
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Acfiual Bud et Actual Amount Percenta a Amount Percenta e
General Government 105,450 81,000 84,b27 (20,823) -19.75°l0 3,627 4.48°10 Public Safety 251,315 244,000 230,187 (21,188) -8.4% (13,813) -5.7°l0
Development Services 494,524 702,000 687,729 193,205 39.1% (14,271) -2.0%
Culture ~ Recreation 832,146 814,000 858,b61 26,515 3.2°l0 44,661 5.5°l0
YTD Total 1,683,495 1,841,000 1,861,204 177,709 10.6% 20,204 1.1%
Annual Total 1,683,495 1,841,000
s
Monthly Financial Report December 2010
Development Services include Engineering fees, zoning & subdivision fees and plan check fees. At
the end of December, year to date revenues totaled $687,729 and is 39.1% or $193.2K more
than the same period in 2009. The increase for December is due to plan check fees related to
apartment complex developments. Total development service revenue is less than the budget
for the year by $14.3K or 2.0% primarily due to lower than anticipated engineering fees
revenue.
Development Service Fees
Year to Date through December 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% Aug 53,060 75,300 70,844 17,784 33.5% (4,456) -5.9%
Sep 32,404 46,000 99,904 67,500 208.3% 53,904 117.2%
Oct 15,079 21,400 64,904 49,825 330.4% 43,504 203.3%
Nov 26,650 37,800 37,476 10,826 40.6% (324) -0.9%
Dec 41,227 58,500 109,756 68,529 166.2% 51,256 87.6%
YTD Total 494,524 702,000 687,729 193,205 39.1% (14,271) -2.0%
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 the year shows an increase of
$26.5K from 2009 and $44.7K greater than 2010 annual budget. Overall annual increases are
mainly due to success of the Auburn Avenue Theater, adult sports programs, adult fitness classes
and youth camps programs.
Culture & Recreation
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
M®nth Actual Bud et Actual Am®unt Percenta a Am®unt Percenta e
Jan 71,561 70,000 65,917 (5,644) -7.9% (4,083) -5.8%
Feb 51,878 50,700 57,959 6,081 11.7% 7,259 14.3%
Mar 124,525 121,800 133,930 9,405 7.6% 12,130 10.0% Apr 81,520 79,800 69,877 (11,643) -14.3% (9,923) -12.4%
May 75,505 73,900 70,119 (5,386) -7.1% (3,781) -5.1%
Jun 90,011 88,000 109,364 19,353 21.5% 21,364 24.3%
Jul 77,622 75,900 89,315 11,693 15.1% 13,415 17.7%
Au 66,639 65,200 76,531 9,892 14.8% 11,331 17.4%
Sep 61,305 60,000 60,648 (657) -1.1% 648 1.1% Oct 41,086 40,200 39,341 (1,745) -4.2% (859) -2.1%
Nov 44,066 43,100 41,030 (3,036) -6.9% (2,070) -4.8%
Dec 46,428 45,400 44,629 (1,799) -3.9% (771) -1.7%
YTD Total 832,146 814,000 858,661 26,515 3.2% 44,661 5.5%
Annual Total 832,146 814,000
9
Monthly Financial Report December 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 $552,067 or
28.7% greater than 2009 for the same period and $365,011 or 17.3% higher than the projected
budget. The overall increase for the year is primarily due to the rise in the traffic infraction and
photo enforcement revenues. Criminal non-traffic fees and traffic infraction revenues 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 December
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 144,593 164,000 177,615 33,022 22.8% 13,615 8.3%
Sep 135,201 147,000 165,581 30,380 22.5% 18,581 12.6%
Oct 140,945 150,300 121,530 (19,415) -13.8% (28,770) -19.1%
Nov 151,870 173,800 204,643 52,773 34.7% 30,843 17.7%
Dec 210,746 198,600 198,188 (12,558} -6.0% (412) -0.2%
YTD Total 1,920,344 2,107,400 2,472,411 552,067 28.7% 365,011 17.3%
Annual Total 1,920,344 2,107,400
Fines & Forfeits by Type
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Civil Penalties 31,035 15,000 22,327 (8,708) -28.1% 7,327 48.8%
Civil Infraction Penalties 642,926 465,000 728,320 85,394 13.3% 263,320 56.6%
Red Light Photo Enforcement 841,038 1,100,000 1,199,896 358,858 42.7% 99,896 9.1%
Parking Infractions 153,803 172,000 189,860 3b,058 23.4% 17,8b0 10.4%
Criminal Traffic Misdemeanor 93,346 110,000 86,772 (6,575) -7.0% (23,228} -21.1%
Criminal Non-Traffic Fines 115,903 90,000 110,499 (5,404) -4.7% 20,499 22.8%
Criminal Costs 12,149 20,000 9,186 (2,963) -24.4% (10,814) -54.1% Non-Court Fines & Penalties 30,143 135,400 125,551 95,408 316.5°l0 (9,849} -7.3%
YTD Total 1,920,345 2,107,400 2,472,411 552,Ob8 28.7% 365,011 17.3%
Annual Total 1,920,344 2,107,400
10
Monthly Financial Report December 2010
Photo Enforcement
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents 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 75,485 12,260 19.4% (7,215) -8.7%
Sep 47,897 67,700 50,624 2,727 5.7% (17,076) -25.2%
Oct 44,010 62,600 49,153 5,143 11.7% (13,447) -21.5%
Nov 74,239 97,100 114,621 40,381 54.4% 17,521 18.0%
Dec 102,895 104,600 93,709 (9,186) -8.9% (10,891) -10.4%
YTD Total 841,038 1,100,000 1,199,896 358,858 42.7% 99,896 9.1%
Annual Total 841,038 1,100,000
Miscellaneous
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 $810,800 and interest & investment and rentals & leases make up 88% 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 0.26% in December 2010. The increase in rentals & leases compared to 2009 is due to the inter-
fund payment from the utility funds for the City Hall Annex lease. In comparison to the 2010
budget, the increase in rentals & leases is primarily from Parks facility rentals. Contributions &
donations are higher than YTD budget because of increases in the Parks contributions and
donations account that support 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 December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
Interest & Investments 178,507 170,000 152,158 (26,349) -14.8°l0 (17,842) -10.5% Rents 6~ Leases 283,723 543,000 575,102 291,379 102.7°l0 32,102 5.9%
Contributions 6~ Donations 122,768 51,600 58,160 (64,608) -52.6°l0 6,560 12.7%
Other Miscellaneous Revenue 79,309 46,200 113,959 34,650 43.7°l0 67,759 146.7%
YTD Total 664,307 810,800 899,378 235,071 35.4% 88,578 10.9%
Annual Total 664,307 810,800
11
Monthly Financial Report December 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. September REET 1 revenue is low compared to
October for a couple reasons. First, the King County REET 1 revenue for September of $42,908
was received and posted in October. Also, from July 1, 2006 to August 31, 2010 the County had
withheld too much in administrative fees and a reimbursement of $21,950 was received in
October. In November REET revenue received from King County was incorrect; December's
revenue is negative because it includes a $27,982 adjustment to reduce November's figures. During December a budget amendment was made to reduce estimated revenues by $600K to
reflect actual receipts and the following table was updated to show the adjustment to the 2010
budget. Total revenue for the year is $461.8K or 29.6% less than 2009 and $102.8K or 8.6%
less than budget. This decline in REET revenues reflects the current slump in the commercial and
residential markets.
Real Estate Excise Tax Revenues
Year to Date through December
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 55,308 42,600 44,219 (11,088) -20.0% 1,619 3.8%
Feb 115,443 88,900 56,636 (58,807) -50.9% (32,264) -36.3%
Mar 114,240 87,900 74,986 (39,254) -34.4% (12,914) -14.7%
Apr 75,831 58,400 89,679 13,848 18.3% 31,279 53.6%
May 68,846 53,000 207,808 138,962 201.8% 154,808 292.1%
Jun 141,704 109,100 153,434 11,730 8.3% 44,334 40.6% Jul 106,672 82,100 114,879 8,208 32,779 39.9%
Au 115,268 88,700 49,393 (65,875) -57.1% (39,307) -44.3%
Sep 179,067 137,800 22,789 (156,278) -87.3% (115,011) -83.5%
Oct 314,172 241,800 122,410 (191,762) -61.0% (119,390) -49.4%
Nov 184,935 142,400 166,145 (18,790) -10.2% 23,745 16.7%
Dec 87,440 67,300 (5,235) (92,675) -106.0% (72,535) -107.8%
YTD Total 1,558,926 1,200,000 1,097,144 (461,781) -29.6% (102,856) -8.6%
Annual Total 1,558,926 1,200,000
12
Monthly Financial Report December 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 U;laste Airport Cemetery Golf Comm. Retail
OPERATING REVENUES
Charges for services 9,125,933 15,874,027 6,433,553 9,171,186 26,683 709,571 1,361,003
Rents, Leases, Concessions & Other - - - - 618,920 - 64,984
TOTAL OPERATING REVENUES 9,125,933 15,874,027 6,433,553 9,171,186 645,603 709,571 1,425,987
OPERATING EXPENSES:
Administration 2,530,252 1,977,449 2,417,025 727,823 480,277 267,625 210,147
Operations & Maintenance 4,578,605 14,156,018 2,299,015 9,125,181 165 630,239 1,164,365
Depredation & Amortization 2,116,352 1,312,282 1,088,529 19,963 216,961 57,199 336,319 33,328
TOTAL OPERATING EXPENSES 9,225,209 17,505,149 5,804,569 9,872,966 697,403 955,062 1,110,830 33,328
OPERATING INCOME (LOSS) (99,276) (1,631,722) 628,983 (701,780) (51,800) (245,492) (284,843) (33,328)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 56,284 58,570 37,445 2,311 3,438 625 556
Other Non Operating Revenue 63,525 504,300 83,050 16,824 129,656 287 2,746
Other Non Operating Expense (35,257) (20,045) - - (57,875) (22,268) (198,594)
TOTAL NON-OPERATING REVENUES (EXPENSES) 84,553 542,824 120,495 19,134 75,218 (21,355) (195,292)
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (14,723) (1,088,898) 749,478 (682,646) 23,418 (266,847) (480,135) (33,328)
Contributions 413,488 249,153 288,361 - - - -
Transfers In - - - - 25,605 123,575
Transfers Out (55,790) (55,960) (59,580) (680) - - - (1,440,613)
TOTAL CONTRIBUTIONS & TRANSFERS 357,698 193,193 228,781 (680) - 25,605 123,575 (1,440,613)
CHANGE IN FUND BALANCE 342,975 (895,705) 978,259 (683,326) 23,418 (241,242) (356,560) (1,473,941)
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, December 31, 2010 58,923,916 63,495,323 40,598,151 893,061 9,711,012 872,833 5,145,214
13
Monthly Financial Report December 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:
lnterfund Charges for services - 3,047,544 3,902,076 2,474,194
Rents, Leases, Concessions & Other - 133,617 24,814 - TOTALOPERATING REVENUES - 3,181,161 3,926,890 2,474,194
OPERATING EXPENSES:
Administration 70,177 - - 536,184 Operations & Maintenance - 2,195,628 3,482,696 1,311,919
Depreciation & Amortization - - 4b0,012 991,570
TOTAL OPERATING EXPENSES 70,177 2,195,628 3,942,707 2,839,673
OPERATING INCOME (LOSS) (70,177) 985,533 (15,817) (365,479)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 5,040 1,872 11,453 15,236
Other Non Operating Revenue - - 40,341 14,115 Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES) 5,040 1,872 51,794 29,350
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (65,137) 987,405 35,976 (336,128)
Contributions - - 10,950 90,964
Transfers In 197,500
Transfers Out - (450,000) (29,500) (22,230)
TOTAL CONTRIBUTIONS & TRANSFERS 197,500 (450,000) (18,550) 68,734
CHANGE IN FUND BALANCE 132,363 537,405 17,426 (267,395)
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, December 31, 2010 2,366,832 745,042 4,932,272 10,625,545
Equipment rental fund balance of $10,625,545 includes approximately $4.8 M in fixed assets net
of depreciation which primarily consists 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://www.auburnwa.~ov/. For any questions about the report please
contact us at scoleman~auburnwa.~ov.
14
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City of Auburn
Investment Portfolio Summary
As of December 31, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 88,919,029 Various 0.26% KeyBank Money Market Various 10,269,604 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 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 & Investments $ 112,471,382 0.418%
Investment Mix % of Total Summary
State Investment Pool 79.1 % Current 6-month treasury rate 0.19%
KeyBank Money Market 9.1 % Current State Pool rate 0.26%
US Treasury 0.1 % KeyBank Money Market 0.10%
FHLB 5.8% Blended Auburn rate 0.42% FNMA 4.2%
FHLMC 1.8%
100.0%
16