HomeMy WebLinkAboutMay 2012
AGENDA BILL APPROVAL FORM
Agenda Subject: May 2012 Financial Report
Date: 07/11/2012
Department: Finance
Attachments: Monthly Financial
Report
Budget Impact: $0
Administrative Recommendation:
Background Summary:
The purpose of the monthly financial reports is to summarize for the City Council the general state of city-
wide financial affairs and to highlight significant items or trends that the City Council should be aware of.
The following provides a high level summary of the City’s financial performance. Further detail can be
found within the attached financial report.
The May status report is based on financial data available as of June 22, 2012. Sales tax information
represents business activity that occurred in March 2012.
General Fund:
The general fund is the City’s largest fund and is used to account for the majority of City resources and
services except those required by statute or to be accounted for in another fund.
Year-to-date General Fund revenues were sufficient to support expenditures with financial performance
substantially unchanged from the same period last year, reflecting continued consumer concerns over the
state of the economy, unemployment, and economic conditions in Europe and Asia. As of the end of
May, the unemployment rate in Washington State was 8.3% and 6.9% in King County and compare to the
national unemployment rate of 8.2%1.
General fund revenue collections totaled $23.0 million and compare to budget-to-date of $22.4 million and
collections of $23.2 million for the same period previous year. Tax revenues, the largest category of
revenue within the General Fund, totaled $19.1 million and compare to collections of $18.9 million for the
same period last year.
General Fund expenses totaled $19.5 million and compare to budget of $21.0 million and expenditures of
$19.6 million for the same period last year.
Enterprise Funds:
The City’s eight enterprise funds account for operations with revenues primarily provided from user fees,
charges or contracts for services.
At the end of May, the Water fund ended with a slight operating loss of $91,000; the Sewer fund ended
this period with a $622,000 operating loss; and the Stormwater fund ended with an operating income of
$395,000.
The Golf Course ended the period with an operating loss of $321,000. Financial performance for the
Auburn Golf Course is expected to improve as play increases with better weather during the spring and
summer months.
Cemetery revenues at the end of May totaled $307,000 and were below expenses of $394,000.
1 Source: Washington State Employment Security Department and US Bureau of Labor Statistics.
1
Agenda Subject: May 2012 Financial Report
Date: 7/11/2012
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Facilities, Information Services, and Equipment Rental. At the end of the year, revenue from
charges assessed to internal client departments was sufficient to meet expenses.
Investment Portfolio:
The City’s total cash and investments at the end of May was $101.7 million and compare to $99.4 million
the previous month.
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks
Human Services Planning & CD Fire Planning Park Board Public Works Legal Police
Planning Comm. Other Public Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes No Call for Public Hearing ___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until ___/___/____
Councilmember: Partridge Staff: Coleman
Meeting Date: July 16, 2012 Item Number:
2
Monthly Financial Report May 2012
General Fund 2011
Summary of Sources and Uses
Annual BudgetYTD BudgetYTD ActualYTD ActualAmountPercentage
OPERATING REVENUES
Property Tax 12,562,565 6,497,800 6,622,094 6,522,132 124,294 1.9%
Sales Tax (1)14,227,000 5,925,600 5,944,068 6,084,272 18,468 0.3%
Sales Tax - Annexation Credit 1,383,730 557,730 606,446 595,853 48,716 8.7%
Criminal Justice Sales Tax 1,212,900 503,300 561,206 556,090 57,906 11.5%
Brokered Natural Gas Tax 260,000 141,700 181,661 168,114 39,961 28.2%
City Utilities Tax 2,620,200 1,041,200 1,075,831 966,514 34,631 3.3%
Admissions Tax 360,000 132,600 125,545 121,946 (7,055) -5.3%
Electric Tax 3,275,000 1,756,300 1,729,940 1,678,394 (26,360) -1.5%
Natural Gas Tax 1,295,820 836,100 747,170 728,141 (88,930) -10.6%
Cable TV Franchise Fee 703,600 352,200 400,941 403,943 48,741 13.8%
Cable TV Franchise Fee - Capital 75,000 36,600 31,508 31,983 (5,092) -13.9%
Telephone Tax 2,012,400 875,300 905,627 883,105 30,327 3.5%
Garbage Tax (external)150,000 59,700 53,946 56,183 (5,754) -9.6%
Leasehold Excise Tax 50,000 13,000 10,067 12,346 (2,933) N/A
Gambling Excise Tax 331,500
(1) The anticipated Streamlined Sales Tax for 2012 is $2 million. The year to date actual Sales Tax amount is adjusted
to include $833,686 Streamlined Sales Tax Mitigation received from the State through the month of May.
191,400 128,226 117,576 (63,174) -33.0%
Taxes sub-total 40,519,715 18,920,530 19,124,276 18,926,591 203,746 1.1%
Business License Fees 200,000 56,300 115,119 103,219 58,819 104.5%
Building Permits 700,000 255,800 491,218 362,422 235,418 92.0%
Other Licenses & Permits 229,000 84,300 128,735 136,352 44,435 52.7%
Intergovernmental (Grants, etc)3,357,333 1,393,760 1,311,889 1,643,674 (81,871) -5.9%
Charges for Services:
General Government Services 64,600 27,200 54,720 35,968 27,520 101.2%
Public Safety 223,500 96,900 99,362 101,423 2,462 2.5%
Development Services Fees 627,000 209,800 367,465 179,743 157,665 75.2%
Culture and Recreation 920,000 424,100 394,701 369,066 (29,399) -6.9%
Fines and Forfeits 1,499,900 711,800 699,513 936,814 (12,287) -1.7%
Fees/Charges/Fines sub-total 7,821,333 3,259,960 3,662,723 3,868,681 402,763 12.4%
Interests and Other Earnings 115,000 46,700 28,334 28,537 (18,366) -39.3%
Rents, Leases and Concessions 311,000 138,600 118,376 168,235 (20,224) -14.6%
Contributions and Donations 20,500 6,600 22,089 16,128 15,489 234.7%
Other Miscellaneous 46,200 25,000 30,819 26,967 5,819 23.3%
Transfers In 17,000 17,000 17,000 78,439 - 0.0%
Insurance Recoveries- Capital & Operating 50,000 18,158 41,262 70,899 23,104 127.2%
Other Revenues sub-total 559,700 252,058 257,880 389,206 5,822 2.3%
Total Operating Revenues 48,900,748 22,432,548 23,044,879 23,184,478 612,331 2.7%
Operating Expenditures
Council & Mayor 869,890 358,990 373,733 312,271 (14,743) -4.1%
Municipal Court & Probation 3,399,260 1,302,860 1,222,290 1,175,334 80,570 6.2%
Human Resources 942,164 376,700 333,941 321,988 42,759 11.4%
Finance 1,235,590 551,000 453,121 509,974 97,879 17.8%
City Attorney 1,699,500 765,100 615,486 681,066 149,614 19.6%
Planning 3,883,620 1,516,700 1,498,842 1,403,236 17,858 1.2%
Community & Human Services 1,160,360 396,160 392,144 421,449 4,016 1.0%
Jail - SCORE 4,764,750 1,888,850 1,780,751 1,869,665 108,099 5.7%
Police 20,682,698 8,217,400 7,566,539 7,290,069 650,861 7.9%
Engineering 2,718,870 880,770 811,752 907,455 69,018 7.8%
Parks and Recreation 7,598,230 2,383,030 2,324,749 2,808,211 58,281 2.4%
Streets 3,415,280 1,032,780 819,608 1,052,030 213,172 20.6%
Non-Departmental 7,130,550 1,362,400 1,252,574 882,268 109,826 8.1%
Total Operating Expenditures 59,500,762 21,032,740 19,445,529 19,635,015 1,587,211 7.5%
2012 2012 YTD Budget vs. Actual
Favorable (Unfavorable)
3
Monthly Financial Report May 2012
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
May 31, 2012 and represents financial data available as of June 22, 2012. The budgeted year-to-
date revenues and operating expenses are based on the collection/disbursement average for the
same period of the two prior years.
General Fund revenues totaled $23.0 million and were above budget by 2.7%, or $612,000.
This period’s highlights include:
- Tax revenues totaled $19.1 million and were $204,000 above budget.
- Sales taxes totaled $5.9 million and were on target with budget.
- Revenue from Fees/Charges/Fines totaled $3.7 million and were $403,000 above budget
due to stronger than budgeted revenue from development activity.
- Other revenues totaled $258,000 and were 2.3% above budget.
General Fund expenses totaled $19.5 million and were $1.6 million below budget and compared
to expenses of $19.6 million for the same period last year.
Revenues
The combined total of property tax, sales/use tax, utility tax, gambling, and admissions tax
provide approximately 80% of all resources supporting general governmental activities. The
following section provides additional information on these sources.
Property Tax collections to date total $6.6 million and has returned to budgeted levels following
the previous month’s performance due to timing of payments. The majority of property tax
revenues are collected during the months of April and October, coinciding with the due date for
County property tax billings.
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Property Taxes
2012 budget
2012 actual to date
2011 actual
4
Monthly Financial Report May 2012
Sales taxes totaled $6.6 million and is on target with budget. Sales taxes include an estimate of
$167,151 for May’s portion of the Streamlined Sales Tax Mitigation payments from the State of
Washington.
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Sales & Use Tax
2012 budget
2012 actual to date
2011 actual
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.
20112012
Component GroupActualActualAmoun
New Construction 489,132 455,332 (33,80
Manufacturing 265,221 126,714 (138,5
Transportation & Warehousing22,065 19,257 (2,8
Wholesale Trade 514,703 522,843 8,1
Automotive 1,099,474 1,181,603 82,1
Retail Trade 1,658,812 1,620,924 (37,88
Services 1,141,959 1,196,727 54,7
Miscellaneous 95,405 18,146 (77,2
Chan
tPercentage
0)-6.9%
07)-52.2%
08)-12.7%
40 1.6%
29 7.5%
8)-2.3%
68 4.8%
59)-81.0%
YTD Total 5,286,771 5,141,546 (145,225) -2.7%
ge from 2011
Year to Date through May
Comparison of Sales Tax Collections by SIC Group
As shown above, sales taxes by business sector totaled $5.14 million and are 2.7% less than the
same period last year due in part to two adjustments by the Washington State Department of
Revenue that reduced the City’s sales taxes by $93,9851.
1 Wa. State Department of Revenue adjustments reduced sales taxes within the manufacturing and services sectors
by $73,971 and $20,014, respectively.
5
Monthly Financial Report May 2012
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Utility Taxes 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 collections
totaled $4.5 million and is running slightly below budget. The following table presents utility tax
collections by source:
Cable TV Franchise Fees exceed budget by $44,000 and are tracking 2011 collection levels. This
revenue source is likely to outperform budget by the end of 2012 and end at levels similar to the
previous year.
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Utility Tax
2012 budget
2012 actual to date
2011 actual
201120122012
Month ActualBudgetActualAmountPercentageAmo
City Interfund Utility Taxes966,514 1,041,200 1,075,831 109,317 11.3%3
Electric 1,678,394 1,756,300 1,729,940 51,546 3.1%(2
Natural Gas 728,141 836,100 747,170 19,029 2.6%(
Telephone 883,105 875,300 905,627 22,522 2.6%30
Solid Waste 56,183 59,700 53,946 (2,237) -4.0%(
YTD Total 4,312,337 4,568,600 4,512,514 200,177 4.6%(
Year to Date through May
Utility Tax by Type
2012 vs. 201120
untPercentage
4,6313.3%
6,360)-1.5%
88,930)-10.6%
,327 3.5%
5,754)-9.6%
56,086)-1.2%
Annual Total 8,890,614 9,353,420
12 vs. Budget
6
Monthly Financial Report May 2012
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Cable TV Franchise Fee
2012 budget
2012 actual to date
2011 actual
Licenses and Permits include business licenses, building permits, plumbing, electric and other
licenses and permit fees. Building permit fees and Business licenses make up 80% of the annual
budgeted revenue in this category.
Building permit revenues were $491,000 and exceeded both budget and prior year levels of
$256,000 and $362,000, respectively. Building permit activity has increased, reflecting the
broader trend of increased construction activity in the region.
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JanFebMarAprMayJunJulAugSepOctNovDec
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$1,200
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Building Permits
2012 budget
2012 actual to date
2011 actual
Business License revenues totaled $115,000 and exceeded budget due to the timing of payments.
The revenue for the year is billed out late in December and most payments are received between
January and February. This revenue source is expected to level out for the remainder of the year
until December when collections increase as payments for 2013 are received.
7
Monthly Financial Report May 2012
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Business Licenses
2012 budget
2012 actual to date
2011 actual
Intergovernmental includes Grants (Direct & Indirect Federal, State and Local); State shared
revenues and compact revenue from the Muckleshoot Indian Tribe. Collections totaled $1.3
million and is below budget due to the timing of anticipated distributions by the State of
Washington from the sale of state owned liquor stores2.
20112012 2012
Revenue ActualBudgetActual% Change
Federal Grants 119,676 155,700 128,802 7.6%
State Grants 38,636 17,600 36,326 -6.0%
Interlocal Grants 3,151 56,700 2,500 -20.7%
State Shared Revenue1,084,600 957,060 794,536 -26.7%
Muckleshoot Casino Emerg.385,731 386,700 345,875 -10.3%
Intergovernmental Service11,880 - 3,850 -67.6%
YTD Total 1,643,674 1,573,760 1,311,889 -20.2%
Year to Date through May
Intergovernmental
2012 vs. 2011
% Change
-17.3%
0.0%
-95.6%
-17.0%
-10.6%
N/A
-16.6%
Annual Total 3,432,394 3,537,333
2012 vs. Budg
et
2 The City of Auburn received $188,230 from the sale of State owned liquor stores in the month of June 2012 and
will be reflected in next month’s monthly financial report. In addition, the City’s share of liquor excise taxes and
liquor profits will be revised starting July 1. Liquor excise taxes will be suspended for a twelve month period and
will be reinstated at a lowered level starting July 1, 2013 while liquor profits will be reduced to 2011 levels starting
July 1. These changes were made as a result of the State Legislature’s effort to balance the State budget during the
2012 legislative session.
8
Monthly Financial Report May 2012
201120122012
Revenue ActualBudgetActualAmountPercentageAmountPercentage
Trial Court Improvements 11,234 12,300 11,316 82 N/A(984) N/A
Court Interpreter Program 6,643 6,960 10,872 4,229 N/A3,912 N/A
Motor Vehicle Fuel Tax 586,091 380,300 388,328 (197,763) -33.7%8,028 2.1%
Criminal Justice -High Crime75,325 - 71,399 (3,926) -5.2%71,399 N/A
Criminal Justice -Population 7,690 47,300 7,766 76 1.0%(39,534) -83.6%
Criminal Justice -Spec. Prog.29,045 27,600 29,308 263 0.9%1,708 6.2%
State DUI 6,262 3,200 6,777 514 8.2%3,577 111.8%
Fire Insurance Premium Tax 66,116 65,000 - (66,116) N/A(65,000) N/A
Liquor Excise Tax 169,003 81,000 174,785 5,782 3.4%93,785 115.8%
Liquor Profits 127,191 153,400 93,986 (33,205) -26.1%(59,414) N/A
Liquor Store Closure Proceeds - 180,000 - - N/A(180,000) N/A
YTD Total 1,084,600 957,060 794,536 (290,064) -26.7%(162,524) -17.0%
Annual Total 2,073,650 2,060,690
Year to Date through May
State Shared Revenues
2012 vs. 20112012 vs. Budget
Charges for Services consists of general governmental services, public safety, development service
fees and cultural & recreation fees and totaled $916,000. Development service fees and culture
and recreation fees make up 81% of the revenue within this category. Development services
revenues totaled $367,000 compared to budget of $210,000 due to stronger revenues from
development plan-check fees. Culture and recreation fees are beginning to improve over 2011
levels, reflecting increased registrations for summer classes.
201120122012
Revenue ActualBudgetActualAmountPercentageAm
General Government 35,968 27,200 54,720 18,752 52.13%
Public Safety 101,423 96,900 99,362 (2,061) -2.0%
Development Services179,743 209,800 367,465 187,722 104.4%157,
Culture & Recreation369,066 424,100 394,701 25,635 6.9%(
Year to Date through May
Charges for Services by Type
2012 vs. 20112
ountPercentage
27,520 101.18%
2,462 2.5%
665 75.2%
29,399)-6.9%
YTD Total 686,200 758,000 916,248 230,047 33.5%158,248 20.9%
Annual Total1,651,371 1,835,100
012 vs. Budget
9
Monthly Financial Report May 2012
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Development Service Fees
2012 budget
2012 actual to date
2011 actual
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$1,000
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Culture & Recreation
2012 budget
2012 actual to date
2011 actual
Fines & Penalties totaled $700,000 and is slightly below of $712,000. The table below reflects
the revised budget for the red light photo enforcement program, reflecting actual and forecasted
financial performance.
10
Monthly Financial Report May 2012
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
Civil Penalties 8,566 6,400 6,924 (1,642) -19.2%524 8.2%
Civil Infraction Penalties 298,711 261,700 282,581 (16,130) -5.4%20,881 8.0%
Red Light Photo Enforcement429,454 248,800 248,716 (180,738) -42.1%(84) 0.0%
Parking Infractions 76,177 75,000 50,689 (25,487) -33.5%(24,311) -32.4%
Criminal Traffic Misdemeanor35,763 50,200 46,661 10,897 30.5%(3,539) -7.1%
Criminal Non-Traffic Fines38,490 41,600 42,189 3,698 9.6%589 1.4%
Criminal Costs 5,901 4,300 7,089 1,188 20.1%2,789 64.9%
Non-Court Fines & Penalties43,753 23,800 14,666 (29,086) -66.5%(9,134) -38.4%
YTD Total 936,814 711,800 699,513 (237,301) -25.3%(12,287) -1.7%
Year to Date through May
Fines & Forfeits by Type
2012 vs. 20112012 vs. Bud
Annual Total 1,940,326 1,499,900
get
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$1.0
$1.5
$2.0
$2.5
2012 budget
2012 actual to date
2011 actual
JanFebMarAprMayJunJulAugSep
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Photo Enforcement
JanFebMarAprMayJunJulAugSepOctNovDec
2012 budget
2012 actual to date
2011 actual
11
Monthly Financial Report May 2012
Miscellaneous revenues include interest and other investment earnings, rents, leases &
concessions, contributions & donations and other miscellaneous income. Revenues in this
category totaled $200,000 and are below budget by $17,000 due primarily to lowered revenue
from facility rentals and lowered interest earnings.
201120122012
Month ActualBudgetActualAmountPercentageA
Interest & Investments 28,537 46,700 28,334 (204) -0.7%
Rents & Leases 168,235 138,600 118,376 (49,859) -29.6%(
Contributions & Donations16,128 6,600 22,089 5,961 37.0%
Other Miscellaneous Revenue26,967 25,000 30,819 3,852 14.3%
Miscellaneous Revenues by Type
Year to Date through May
2012 vs. 2011
mountPercentage
(18,366)-39.3%
20,224)-14.6%
15,489 234.7%
5,819 23.3%
YTD Total 239,868 216,900 199,619 (40,249) -16.8%(17,281) -8.0%
Annual Total 649,927 492,700
2012 vs. Budg
et
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. REET revenue totaled $520,000 and is slightly
below budget.
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JanFebMarAprMayJunJulAugSepOctNovDe
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Real Estate Excise Tax
2012 budget
2012 actual to date
2011 actual
12
Monthly Financial Report May 2012
eteryGolf
06,637 334,639
- -
- 69,252
6,637403,891
119,789108,388
50,080 485,040
- -
- -
24,503131,472
394,372 724,900
87,735)(321,009)
89 179
1,431 -
(11,134) -
(9,614) 179
97,349)(320,830)
- -
0,00014,608
- -
0,00014,608
02,651 (306,222)
814,709 5,144,962
ENDING FUND BALANCE May 31, 2012 63,203,713 72,756,384 48,320,735 1,695,536 9,564,172 917,360 4,838,740
Enterprise Funds
The following table provides an analysis of the City’s Enterprise funds – showing 2012 revenues
and expenditures by fund.
WaterSewerStormSolid WasteAirportCem
OPERATING REVENUES
Charges for Services 3,511,617 1,898,876 3,044,704 4,757,347 6,601 3
Sewer Metro Service Revenue - 5,259,820 - - -
Rents, Leases, Concessions & Other - - - - 249,338
TOTAL OPERATING REVENUES 3,511,617 7,158,696 3,044,704 4,757,347 255,939 30
OPERATING EXPENSES:
Administration 992,166 795,304 831,971 333,632 234,983
Operations & Maintenance 1,703,952 1,038,680 1,286,867 488,012 - 2
Waste Management Payments - - - 3,065,355 -
Sewer Metro Services - 5,211,643 - - -
Depreciation & Amortization 906,670 735,485 530,605 7,841 163,732
TOTAL OPERATING EXPENSES 3,602,788 7,781,112 2,649,443 3,894,840 398,715
OPERATING INCOME (LOSS)(91,171) (622,416) 395,261 862,507 (142,776) (
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 17,790 5,669 5,502 216 658
Other Non Operating Revenue 108,479 39,693 34,470 72,132 370
Other Non Operating Expense - - - - (25,238)
TOTAL NON-OPERATING REVENUES (EXPENSES)126,269 45,362 39,972 72,348 (24,210)
35,098 (577,054) 435,233 934,855 (166,986) (
Contributions 189,920 109,432 163,298 - -
Transfers In - - - - - 20
Transfers Out (50,000) (50,000) (50,000) - -
TOTAL CONTRIBUTIONS & TRANSFERS 139,920 59,432 113,298 - - 20
CHANGE IN FUND BALANCE 175,018 (517,622) 548,531 934,855 (166,986) 1
BEGINNING FUND BALANCE January 1, 2012 63,028,695 73,274,006 47,772,204 760,681 9,731,158
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
13
Monthly Financial Report May 2012
The following table presents the Working Capital Statements for the City’s Enterprise funds.
Working capital is generally defined as the difference between current assets and current
liabilities.
WaterSewerStormSolid WasteAirportCem
OPERATING REVENUES
Charges for Services 3,511,617 1,898,876 3,044,704 4,757,347 6,601 3
Sewer Metro Service Revenue - 5,259,820 - - -
Rents, Leases, Concessions & Other - - - - 249,338
TOTAL OPERATING REVENUES 3,511,617 7,158,696 3,044,704 4,757,347 255,939 3
OPERATING EXPENSES:
Salaries & Wages 850,877 561,574 755,304 175,425 7,947 1
Benefits 378,570 243,212 332,205 76,400 2,675
Supplies 61,683 13,436 16,516 7,827 -
Other Service Charges 902,122 695,128 447,243 390,084 224,361
Intergovernmental Services - - 9,098 95,033 -
Waste Management Payments - - - 3,065,355 -
Sewer Metro Services - 5,211,643 - - -
Interfund Operating Rentals/Supplies 502,866 320,634 554,763 76,875 -
Other Expenses - - 3,710 - -
Depreciation & Amortization 906,670 735,485 530,605 7,841 163,732
TOTAL OPERATING EXPENSES 3,602,788 7,781,112 2,649,444 3,894,840 398,715 3
OPERATING INCOME (LOSS)(91,171) (622,416) 395,260 862,507 (142,776) (
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 17,790 5,669 5,502 216 658
Other Non Operating Revenue 108,479 39,693 34,470 72,132 370
Other Non Operating Expense - - - - (25,238)
TOTAL NON-OPERATING REVENUES (EXPENSES)126,269 45,362 39,972 72,348 (24,210)
Plus Items Not Effecting Working Capital
Depreciation 906,670 735,485 530,605 7,841 163,732
941,768 158,431 965,837 942,696 (3,254) (
Increase in Contributions -System Development 189,920 109,432 160,092 - -
Increase in Contributions -Area Assessments - - 3,206 - -
Operating Transfers In - - - - - 2
Increase in Restricted Net Assets 5,024 29,823 - - (5,472)
Decrease in Long term Receivables - 45,000 - - -
Increase in Deferred Credits - - - - (2,427)
TOTAL RESOURCES OTHER THAN OPERATIONS 194,944 184,255 163,298 - (7,899) 2
Net Change in Restricted Net Assets 272,127 142,073 128,582 - (6,053)
Increase in Fixed Assets - Salaries 52,732 46,034 18,414 - 14,465
Increase in Fixed Assets - Benefits 21,056 17,403 7,939 - -
Increase in Fixed Assets - Site Improvements 33,262 - - - -
Increase in Fixed Assets - Equipment 72,714 - - - -
Increase in Fixed Assets - Construction 1,822,930 684,791 410,920 - -
Operating Transfers Out 50,000 50,000 50,000 - -
Debt Service Principal - - - - -
TOTAL USES OTHER THAN OPERATIONS 2,324,821 940,301 615,855 - 8,412
NET CHANGE IN WORKING CAPITAL (1,188,109) (597,615) 513,281 942,696 (19,565)
NET WORKING CAPITAL FROM OPERATIONS
eteryGolf
06,637 334,639
- -
- 69,252
06,637 403,891
87,445 226,584
91,411 111,108
40,159 127,597
23,309 60,634
- -
- -
- -
27,545 67,505
- -
24,503 131,472
94,372 724,900
87,735)(321,009)
89 179
1,431 -
(11,134) -
(9,614) 179
24,503 131,472
72,846)(189,358)
- -
- -
00,00014,608
-
- -
- -
00,00014,608
- (19,365)
- -
- -
- -
- -
- -
- -
- -
- (19,365)
127,154 (155,385)
BEGINNING WORING CAPITAL January 1, 2012 16,945,811 12,806,527 9,102,000 632,263 961,633 71,820 68,320
ENDING WORKING CAPITAL May 31, 2012 15,757,702 12,208,912 9,615,280 1,574,959 942,068 198,974 (87,065)
NET CHANGE IN WORKING CAPITAL (1,188,109) (597,615) 513,281 942,696 (19,565) 127,154 (155,385)
14
Monthly Financial Report May 2012
The Water Utility ended with a $91,000 net loss.
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Water Revenues ($) vs Water Sold (ccf)
2011 -Present
JanFebMarAprMayJunJulAugSepOctNovDec
2011 Water Sales ($)
2012 Water Sales ($)
2011 Water Sold (ccf)
2012 Water Sold (ccf)
The Sewer Utility ended the period with a $622,000 net operating loss while the Stormwater
Utility ended with $395,000 in net income.
Auburn Golf Course (AGC) revenues from green fees increased to $133,000 as compared to
$125,000 the previous month, reflecting an improvement the number of rounds played. The
number of rounds played year-to-date totals 14,216 in 2012 compared to 12,531 in 2011. While
the AGC ended with a net operating loss of $321,000, its financial performance is expected to
continue improving as play increases during the spring/summer season.
$0
JanFebMarAprMayJunJulAugSepOctNovDec
$50
$100
$150
$200
$250
$300
$350
Th
o
u
s
a
n
d
s
Golf Course Operating Revenues by Month
(2012 vs 2011)
2012 Monthly Budget
2012 Actual
20
11 Actual
15
Monthly Financial Report May 2012
The Cemetery Fund ended with a $88,000 net operating loss as compared to $50,000 the
previous month. The decline is a result of reduced revenue from marker sales and
openings/closings.
$0
JanFebMarAprMayJunJulAugSepOctNovDec
$20
$40
$60
$80
$100
$120
$140
Th
o
u
s
a
n
d
s
Cemetery Operating Revenues by Month
(2012 vs 2011)
2012 Monthly
Budget
2012 Actual
2011 Actual
16
Monthly Financial Report May 2012
Equipment
Rental
01,250,280
6 -
61,250,280
-291,150
7627,734
3295,564
01,214,448
4)35,832
6 2,128
-8,837
--
6 10,965
8)46,797
0 72,714
--
-(7,000)
0 65,714
8)112,511
310,135,919
ENDING FUND BALANCE May 31, 2012 1,495,251 2,008,583 4,164,645 10,248,430
Internal Service Funds
The following table provides an analysis of the City’s Internal Service funds – showing 2012
revenues and expenditures by fund.
Information
InsuranceFacilities Services
OPERATING REVENUES:
Interfund Charges for Services - 1,464,282 1,722,96
Rents, Leases, Concessions & Other - 43,760 38,90
TOTAL OPERATING REVENUES - 1,508,042 1,761,86
OPERATING EXPENSES:
Administration 690,217 -
Operations & Maintenance - 899,628 1,730,26
Depreciation & Amortization - - 222,17
TOTAL OPERATING EXPENSES 690,217 899,628 1,952,44
OPERATING INCOME (LOSS)(690,217) 608,414 (190,57
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 788 1,120 1,80
Other Non Operating Revenue (sale of fixed asset)- -
Other Non Operating Expense - -
TOTAL NON-OPERATING REVENUES (EXPENSES)788 1,120 1,80
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (689,429) 609,534 (188,76
Contributions - - 3,23
Transfers In - 97,380
Transfers Out - (268,750)
TOTAL CONTRIBUTIONS & TRANSFERS - (171,370) 3,23
CHANGE IN FUND BALANCE (689,429) 438,164 (185,53
BEGINNING FUND BALANCE January 1, 2012 2,184,680 1,570,419 4,350,18
17
Monthly Financial Report May 2012
Equipment
Rental
01,250,280
6
61,250,280
2177,258
8 69,987
8400,089
9182,425
0 89,125
3295,564
01,214,448
4)35,832
6 2,128
-8,837
--
6 10,965
3295,564
5342,361
--
0 72,714
--
0 72,714
0 33,823
-18,493
8916,287
--
-7,000
8975,603
3)(560,528)
65,793,165
35,232,637
NET CHANGE IN WORKING CAPITAL (689,429) 339,463 (234,423) (560,528)
The following table presents the Working Capital Statements for the City’s Internal Service funds.
Working capital is generally defined as the difference between current assets and current
liabilities.
Information
InsuranceFacilities Services
OPERATING REVENUES:
Interfund Charges for Services - 1,464,282 1,722,96
Rents, Leases, Concessions & Other - 43,760 38,90
TOTAL OPERATING REVENUES - 1,508,042 1,761,86
OPERATING EXPENSES:
Salaries & Wages - 273,636 546,46
Benefits - 118,845 223,81
Supplies - 41,374 88,41
Other Service Charges 690,217 424,983 751,11
Interfund Operating Rentals/Supplies - 40,790 120,45
Depreciation & Amortization - - 222,17
TOTAL OPERATING EXPENSES 690,217 899,628 1,952,44
OPERATING INCOME (LOSS)(690,217) 608,414 (190,57
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 788 1,120 1,80
Other Non Operating Revenue (sale of fixed asset)- -
Other Non Operating Expense - -
TOTAL NON-OPERATING REVENUES (EXPENSES)788 1,120 1,80
Plus Items Not Effecting Working Capital
Depreciation - - 222,17
(689,429) 609,534 33,40
Increase in Contributions -Other Government - -
Increase in Contributions -Other Funds - - 3,23
Operating Transfers In - 97,380
TOTAL RESOURCES OTHER THAN OPERATIONS - 97,380 3,23
Net Change in Restricted Net Assets - - 3,23
Increase in Fixed Assets - Site Improvements - -
Increase in Fixed Assets - Equipment - - 267,82
Increase in Fixed Assets - Construction - 98,701
Operating Transfers Out - 268,750
TOTAL USES OTHER THAN OPERATIONS - 367,451 271,05
NET CHANGE IN WORKING CAPITAL (689,429) 339,463 (234,42
BEGINNING WORING CAPITAL January 1, 2012 2,184,680 1,622,449 3,118,68
ENDING WORKING CAPITAL May 31, 2012 1,495,251 1,961,912 2,884,26
NET WORKING CAPITAL FROM OPERATIONS
18
Monthly Financial Report May 2012
Operating expenses within the Insurance Fund represents the premium cost-pool that will be
allocated monthly to other City funds over the course of 2012. As a result, this balance will
gradually diminish each month throughout the entire year.
The Information Services Fund ended with a net operating loss – reflecting the timing of
expenditures.
No significant variances are reported in the Facilities Fund or Equipment Rental Fund. Both
funds have had sufficient revenues to cover year-to-date expenses.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about the report please
contact us at mchaw@auburnwa.gov or scoleman@auburnwa.gov.
19
SALES TAX SUMMARY
MAY 2012 SALES TAX DISTRIBUTIONS (FOR NOVEMBER - MARCH 2012 RETAIL ACTIVITY)
2011 Annual Total 2011 YTD 2012 YTD YTD 2011 Annual Total 2011 YTD 2012 YTD YTD
NAICS CONSTRUCTION (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff NAICS AUTOMOTIVE (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff
236 Construction of Buildings 582,840 205,548 167,616 -18.5%441 Motor Vehicle and Parts Dealer 2,560,962 1,010,133 1,090,111 7.9%
237 Heavy and Civil Construction 108,727 34,608 51,917 50.0%447 Gasoline Stations 224,459 89,342 91,492 2.4%
238 Specialty Trade Contractors 604,245 248,976 235,799 -5.3%TOTAL AUTOMOTIVE 2,785,421$ 1,099,474$ 1,181,603$ 7.5%
TOTAL CONSTRUCTION 1,295,813$ 489,132$ 455,332$ -6.9%Overall Change from Previous Year 82,128$
Overall Change from Previous Year (33,800)$
2011 Annual Total 2011 YTD 2012 YTD YTD
2011 Annual Total 2011 YTD 2012 YTD YTD NAICS RETAIL TRADE (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff
NAICS MANUFACTURING (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff 442 Furniture and Home Furnishings 218,335 89,594 93,969 4.9%
311 Food Manufacturing 2,674 1,083 1,562 44.2%443 Electronics and Appliances 126,870 60,779 60,759 0.0%
312 Beverage and Tobacco Products 3,864 1,563 1,665 6.5%444 Building Material and Garden 382,504 134,543 145,810 8.4%
313 Textile Mills 959 74 56 -24.2%445 Food and Beverage Stores 330,776 136,325 134,695 -1.2%
314 Textile Product Mills 2,625 674 2,449 263.5%446 Health and Personal Care Store 148,387 64,924 66,763 2.8%
315 Apparel Manufacturing 2,519 2,380 176 -92.6%448 Clothing and Accessories 754,407 333,265 331,450 -0.5%
316 Leather and Allied Products 175 14 55 306.3%451 Sporting Goods, Hobby, Books 126,042 60,402 57,494 -4.8%
321 Wood Product Manufacturing 24,075 9,735 7,816 -19.7%452 General Merchandise Stores 967,627 464,510 426,125 -8.3%
322 Paper Manufacturing 11,026 6,617 1,780 -73.1%453 Miscellaneous Store Retailers 489,259 207,978 191,455 -7.9%
323 Printing and Related Support 38,511 18,715 13,988 -25.3%454 Nonstore Retailers 235,923 106,493 112,405 5.6%
324 Petroleum and Coal Products 9,771 2,863 2,926 2.2%TOTAL RETAIL TRADE 3,780,129$ 1,658,812$ 1,620,924$ -2.3%
325 Chemical Manufacturing 7,937 2,843 2,409 -15.3%Overall Change from Previous Year (37,888)$
326 Plastics and Rubber Products 9,777 4,529 3,950 -12.8%
327 Nonmetallic Mineral Products 16,218 4,319 5,611 29.9%
331 Primary Metal Manufacturing 452 59 1,111 1787.2%2011 Annual Total 2011 YTD 2012 YTD YTD332Fabricated Metal Product Manuf 19,661 9,002 5,503 -38.9%NAICS SERVICES (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff
333 Machinery Manufacturing 14,242 5,401 5,905 9.3%51*Information 481,043 170,770 163,185 -4.4%
334 Computer and Electronic Produc 16,776 6,351 3,348 -47.3%52*Finance and Insurance 65,518 27,058 11,086 b -59.0%
335 Electric Equipment, Appliances 780 115 243 110.3%53*Real Estate, Rental, Leasing 303,750 118,835 129,686 9.1%
336 Transportation Equipment Man 362,149 173,080 49,513 a -71.4%541 Professional, Scientific, Tech 174,718 79,575 71,499 -10.1%
337 Furniture and Related Products 13,135 4,033 6,718 66.6%551 Company Management 351 52 4 -91.3%
339 Miscellaneous Manufacturing 25,531 11,773 9,932 -15.6%56*Admin. Supp., Remed Svcs 294,603 101,877 111,934 9.9%
TOTAL MANUFACTURING 582,858$ 265,221$ 126,714$ -52.2%611 Educational Services 52,563 24,010 19,105 -20.4%
Overall Change from Previous Year (138,507)$ 62*Health Care Social Assistance 40,737 8,770 14,946 70.4%
71*Arts and Entertainment 148,629 81,889 85,241 4.1%
72*Accomodation and Food Svcs 838,924 326,852 368,016 12.6%
2011 Annual Total 2011 YTD 2012 YTD YTD 81*Other Services 389,241 167,065 164,436 -1.6%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff 92*Public Administration 92,163 35,207 57,588 63.6%
481 Air Transportation 24 24 - -100.0%TOTAL SERVICES 2,882,241$ 1,141,959$ 1,196,727$ 4.8%
482 Rail Transportation 17,831 6,589 3,308 -49.8%Overall Change from Previous Year 54,768$
484 Truck Transportation 36,261 6,208 5,989 -3.5%
485 Transit and Ground Passengers 68 39 218 462.6%
488 Transportation Support 18,083 7,154 7,001 -2.1%2011 Annual Total 2011 YTD 2012 YTD YTD
491 Postal Service 202 89 93 4.7%NAICS MISCELLANEOUS (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff
492 Couriers and Messengers 1,492 682 306 -55.0%000 Unknown 1,958 383 1 -99.7%
493 Warehousing and Storage 3,121 1,281 2,341 82.8%111-115 Agriculture, Forestry, Fishing 7,355 2,163 1,177 -45.6%
TOTAL TRANSPORTATION 77,083$ 22,065$ 19,257$ -12.7%211-221 Mining & Utilities 21,830 5,557 9,708 74.7%
Overall Change from Previous Year (2,808)$ 999 Unclassifiable Establishments 192,496 87,302 7,260 -91.7%
TOTAL SERVICES 223,639$ 95,405$ 18,146$ -81.0%
Overall Change from Previous Year (77,259)$
2011 Annual Total 2011 YTD 2012 YTD YTD
NAICS WHOLESALE TRADE (Nov '10-Oct '11)(Nov '10-Mar '11)(Nov '11-Mar '12)% Diff
423 Wholesale Trade, Durable Goods 1,095,905 447,179 460,463 3.0%GRAND TOTAL 12,887,267$ 5,286,772$ 5,141,547$ 424 Wholesale Trade, Nondurable 150,480 65,226 60,373 -7.4%Overall Change from Previous Year (145,224)$ -2.7%
425 Wholesale Electronic Markets 13,698 2,298 2,008 -12.6%
TOTAL WHOLESALE 1,260,083$ 514,703$ 522,843$ 1.6%
Overall Change from Previous Year 8,141$
a. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Nov 2011 (adjustment: -$73,971).b. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Dec 2011 (adjustment: -$20,014).
05/29/12 file:Monthly Sales Tax Report.xls
Prepared by Auburn Financial Planning
20
Investment PurchasePurchaseMaturityYield to
Type Date Price DateMaturity
State Investment PoolVarious 79,135,766$ Various 0.14%
KeyBank Money MarketVarious 14,473,014Various 0.15%
US Treasury 05/04/1990 57,75005/15/20165.72%
FFCB 6/6/20112,000,0006/6/20141.180%
FHLB 6/13/20112,000,0006/13/20141.150%
FHLMC 12/19/20112,000,00012/19/20141.000%
FNMA 12/29/20112,000,00012/29/20140.900%
Total Cash & Investments 101,666,530$ 0.220%
Investment Mix% of Total
State Investment Pool 77.8%Current 6-month treasury rate0.15%
KeyBank Money Market 14.2%Current State Pool rate0.14%
US Treasury 0.1%KeyBank Money Market0.15%
FHLB 2.0%Blended Auburn rate0.22%
FFCB 2.0%
FHLMC 2.0%
FNMA 2.0%
100.0%
City of Auburn
Investment Portfolio Summary
May 31, 2012
Summary
21