HomeMy WebLinkAboutAugust 2012
AGENDA BILL APPROVAL FORM
Agenda Subject: August 2012 Financial Report
Date: 10/10/2012
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 August status report is based on financial data available as of September 24, 2012. Sales tax
information represents business activity that occurred in June 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.
The General Fund is on-target with expectations for the year and is expected to end 2012 with a fund
balance of approximately $12.1 million.
Revenue collections totaled $33.8 million and are running slightly ahead of budget-to-date of $31.9 million
due primarily to increased revenues from building permits and development fees. The month of August
saw several large one-time fees related to new construction. These included building permit fees related
to the Boeing re-roofing project; plan check fees related to the proposed Auburn High School
Modernization and Reconstruction project; and sewer utility taxes related to the Washington State
Department of Transportation project. In total, the taxes and fees from these projects totaled about
$670,000.
Expenses totaled $35.7 million and are running below budget of $39.2 million and compare to
expenditures of $32.0 million for the same period last year. 2012 departmental expenses are below
budget primarily due to savings as a result of earlier staff vacancies within the Police Department.
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 July, the Water fund ended with net income of $288,700; the Sewer fund ended this period
with a $701,500 operating loss; and the Stormwater fund ended with an operating income of $414,100.
All three utilities improved their operating position for the year to-date as compared to the same period
last year as a result of the Council approved rate increases.
The Golf Course ended the period with an operating loss of $158,500. Cemetery revenues at the end of
July totaled $544,500 and were below expenses of $669,100, resulting in a net loss of $124,600 for the
year to-date.
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Agenda Subject: August 2012 Financial Report
Date: 10/10/2012
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 July were $90.5 million and compare to $98.9 million
the previous month. The decrease reflects the one-time payment to Tacoma Public Utilities for the water
supply project.
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: October 15, 2012 Item Number:
2
Monthly Financial Report August 2012
General Fund 2011
Summary of Sources and Uses Annual
BudgetYTD BudgetYTD ActualYTD ActualAmountPercentage
OPERATING REVENUES
Property Tax 12,562,565 6,647,000 6,782,619 6,662,008 135,619 2.0%
Sales Tax 12,267,000 8,131,500 8,330,761 8,529,701 199,261 2.5%
Sales Tax - Annexation Credit 1,383,730 904,430 984,205 967,531 79,775 8.8%
Criminal Justice Sales Tax 1,212,900 806,900 907,116 900,931 100,216 12.4%
Brokered Natural Gas Tax 260,000 194,000 236,630 226,031 42,630 22.0%
City Utilities Tax 2,620,200 1,697,100 1,925,083 1,599,188 227,983 13.4%
Admissions Tax 360,000 260,300 252,524 256,016 (7,776) -3.0%
Electric Tax 3,275,000 2,537,600 2,457,352 2,412,727 (80,248) -3.2%
Natural Gas Tax 1,295,820 1,146,420 991,567 998,853 (154,853) -13.5%
Cable TV Franchise Fee 703,600 528,500 605,115 604,357 76,615 14.5%
Cable TV Franchise Fee - Capital 75,000 55,100 47,269 48,068 (7,831) -14.2%
Telephone Tax 2,012,400 1,394,700 1,349,601 1,389,006 (45,099) -3.2%
Garbage Tax (external)150,000 101,300 79,377 107,413 (21,923) -21.6%
Leasehold Excise Tax 50,000 28,800 28,763 29,689 (37) -0.1%
Gambling Excise Tax 331,500 246,900 195,820 186,359 (51,080) -20.7%
Taxes sub-total 38,559,715 24,680,550 25,173,801 24,917,877 493,251 2.0%
Business License Fees 200,000 104,400 128,697 117,354 24,297 23.3%
Building Permits 700,000 503,500 1,119,108 816,850 615,608 122.3%
Other Licenses & Permits 229,000 149,000 251,120 288,842 102,120 68.5%
Intergovernmental (Grants, etc.) - (1)5,497,433 3,658,032 3,662,718 3,979,677 4,686 0.1%
Charges for Services:
General Government Services 64,600 44,500 80,558 58,062 36,058 81.0%
Public Safety 223,500 150,300 166,881 162,649 16,581 11.0%
Development Services Fees 627,000 383,200 927,187 360,065 543,987 142.0%
Culture and Recreation 920,000 706,400 662,017 604,436 (44,383) -6.3%
Fines and Forfeits 1,499,800 1,082,600 1,106,074 1,424,673 23,474 2.2%
Fees/Charges/Fines sub-total 9,961,333 6,781,932 8,104,360 7,812,608 1,322,428 19.5%
Interests and Other Earnings 115,000 76,100 58,717 54,344 (17,383) -22.8%
Rents, Leases and Concessions 311,000 225,800 234,611 267,261 8,811 3.9%
Contributions and Donations 20,500 13,500 34,826 36,293 21,326 158.0%
Other Miscellaneous 46,200 36,400 95,536 81,766 59,136 162.5%
Transfers In 17,000 17,000 17,000 78,439 - 0.0%
Insurance Recoveries- Capital & Operating 50,000 27,944 101,925 108,330 73,981 264.7%
Other Revenues sub-total 559,700 396,744 542,615 626,432 145,871 36.8%
Total Operating Revenues 49,080,748 31,859,226 33,820,776 33,356,917 1,961,550 6.2%
Operating Expenditures
Council & Mayor 869,890 573,990 585,233 512,962 (11,243) -2.0%
Municipal Court & Probation 3,399,260 2,195,260 1,950,297 1,998,668 244,963 11.2%
Human Resources 942,164 616,330 544,195 526,541 72,135 11.7%
Finance 1,235,590 833,600 789,535 762,922 44,065 5.3%
City Attorney 1,699,500 1,156,900 1,081,787 1,048,080 75,113 6.5%
Planning 3,883,620 2,521,000 2,532,163 2,372,767 (11,163) -0.4%
Community & Human Services 1,160,360 791,760 688,653 638,696 103,107 13.0%
Jail - SCORE 4,764,750 2,984,550 2,523,502 3,045,037 461,048 15.4%
Police 20,682,698 13,318,200 11,956,279 11,894,400 1,361,921 10.2%
Engineering 2,718,870 1,758,170 1,606,766 1,463,772 151,404 8.6%
Parks and Recreation 7,598,230 5,061,430 4,853,918 4,669,277 207,512 4.1%
Streets 3,415,280 2,115,680 1,758,443 1,645,651 357,237 16.9%
Non-Departmental 7,130,550 5,269,650 4,800,996 1,459,665 468,654 8.9%
Total Operating Expenditures 59,500,762 39,196,520 35,671,767 32,038,438 3,524,753 9.0%
2012 2012 YTD Budget vs. Actual
Favorable (Unfavorable)
(1) The anticipated Streamlined Sales Tax for 2012 is $1.96 million. The year to date actual Sales Tax amount includes
$930,770 Streamlined Sales Tax Mitigation received from the State through June and $310,257 forecasted for July
and August, for a total of $1,241,027 YTD.
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Monthly Financial Report August 2012
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
August 31, 2012 and represents financial data available as of September 24, 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 $33.8 million and were above budget by 6.2%, or $2.0 million.
This period’s highlights include:
- Tax revenues totaled $25.2 million and were $493,000 above budget.
- Sales taxes totaled $8.3 million and were $199,000 above budget.
- Revenue from Fees/Charges/Fines totaled $6.8 million and were $1.3 million above
budget due to stronger than budgeted revenue from development activity.
- Other revenues totaled $543,000 and were 37% or $146,000 above budget.
General Fund expenses totaled $35.7 million and were $3.5 million below budget and compare
to expenses of $32.0 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 $6.8 million and exceeds budget by 2.0% or $136,000.
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
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Monthly Financial Report August 2012
Sales taxes totaled $8.3 million and exceeds budget by $199,000.
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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 GroupActualActualAmountPercentage
New Construction 793,520 721,016 (72,504) -9.1%
Manufacturing 415,487 220,537 (194,950) -46.9%
Transportation & Warehousing59,732 40,987 (18,745) -31.4%
Wholesale Trade 839,122 852,853 13,731 1.6%
Automotive 1,822,074 1,972,662 150,588 8.3%
Retail Trade 2,546,706 2,578,974 32,268 1.3%
Services 1,877,884 1,920,609 42,725 2.3%
Miscellaneous 194,014 40,589 (153,425) -79.1%
YTD Total 8,548,539 8,348,227 (200,312) -2.3%
Change from 2011
Year to Date through August
Comparison of Sales Tax Collections by SIC Group
As shown above, sales taxes by business sector totaled $8.3 million and are 2.3% 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.
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Monthly Financial Report August 2012
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Utility Tax
2012 budget
2012 actual to date
2011 actual
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). City interfund utility tax
collections in August include sewer utility taxes that were paid from a one-time $2.067M sewer
system development charge paid by the Washington State Department of Transportation. The
following table presents utility tax collections by source:
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
City Interfund Utility Taxes1,599,188 1,697,100 1,925,083 325,895 20.4%227,983 13.4%
Electric 2,412,727 2,537,600 2,457,352 44,626 1.8%(80,248) -3.2%
Natural Gas 998,853 1,146,420 991,567 (7,285) -0.7%(154,853) -13.5%
Telephone 1,389,006 1,394,700 1,349,601 (39,405) -2.8%(45,099) -3.2%
Solid Waste 107,413 101,300 79,377 (28,036) -26.1%(21,923) -21.6%
YTD Total 6,507,186 6,877,120 6,802,981 295,794 4.5%(74,139) -1.1%
Year to Date through August
Utility Tax by Type
2012 vs. 20112012 vs. Budget
Cable TV Franchise Fees exceed budget by $77,000 and are comparable to 2011 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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Monthly Financial Report August 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 $1.1 million and exceeded both budget and prior year levels of
$504,000 and $817,000, respectively. August revenue activity included $178,000 in building
permit fees paid by the Boeing Company for their re-roofing project. In general, building permit
activity has increased, reflecting the broader trend of increased construction activity in the region.
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Building Permits
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report August 2012
Business License revenues totaled $129,000 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.
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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 $3.7
million and is on target with budget. State shared revenue includes June 2012 disbursement of
$188,000 by the State of Washington from the sale of state owned liquor stores2, as well as
Streamlined Sales Tax of $1,241,027.
201120122012
Revenue ActualBudgetActualAmount% ChangeAmount% Change
Federal Grants 328,015 405,192 265,289 (62,726) -19.1%(139,903) -34.5%
State Grants 79,925 35,600 59,743 (20,182) -25.3%24,143 67.8%
Interlocal Grants 3,151 68,000 10,049 6,898 218.9%(57,951) -85.2%
State Shared Revenue 3,007,694 2,678,740 2,786,456 (221,238) -7.4%107,716 4.0%
Muckleshoot Casino Emerg.549,012 470,500 528,469 (20,543) -3.7%57,969 12.3%
Intergovernmental Service 11,880 - 12,712 832 7.0%12,712 N/A
YTD Total 3,979,677 3,658,032 3,662,718 (316,959) -8.0%4,686 0.1%
Year to Date through August
Intergovernmental
2012 vs. 20112012 vs. Budget
2 The City of Auburn received $188,230 from the sale of State owned liquor stores in the month of June 2012 and is
reflected in this 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.
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Monthly Financial Report August 2012
Note: 2012 liquor excise tax and liquor profit budget revised to reflect changes in State distributions as noted in
footnote above.
201120122012
Revenue ActualBudgetActualAmountPercentageAmountPercentage
Trial Court Improvements16,851 18,300 11,316 (5,535) -32.8%(6,984) -38.16%
Court Interpreter Program6,643 6,960 11,753 5,110 76.93%4,793 68.86%
Motor Vehicle Fuel Tax 960,193 627,200 636,979 (323,214) -33.7%9,779 1.6%
Criminal Justice -High Crime110,880 - 110,246 (634) -0.6%110,246 N/A
Criminal Justice -Population11,595 56,100 11,853 258 2.2%(44,247) -78.9%
Criminal Justice -Spec. Prog.43,777 41,750 44,619 842 1.9%2,869 6.9%
State DUI 11,338 5,300 9,999 (1,339) -11.8%4,699 88.7%
Fire Insurance Premium Tax 258 65,000 63,205 62,946 24361.0%(1,795) -2.76%
Liquor Excise Tax 249,869 159,430 260,420 10,551 4.2%100,990 63.3%
Liquor Profits 269,184 394,500 385,039 115,855 43.0%(9,461) -2.40%
Streamlined Sales Tax 1,327,106 1,304,200 1,241,027 (86,078) -6.5%(63,173) -4.84%
YTD Total 3,007,694 2,678,740 2,786,456 (221,238) -7.4%107,716 4.0%
Year to Date through August
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 $1.8 million. Development service fees and culture
and recreation fees make up 87% of the revenue within this category. Development services
revenues totaled $927,000 compared to budget of $383,000. August collections include plan
check fees related to the Boeing re-roofing project as well as fees paid by the Auburn School
District for the Auburn High School modernization and reconstruction project. Culture and
recreation revenues are improved over 2011 levels, reflecting increased registrations for summer
camps, classes and league enrollment.
201120122012
Revenue ActualBudgetActualAmountPercentageAmountPercentage
General Government 58,062 44,500 80,558 22,496 38.75%36,058 81.03%
Public Safety 162,649 150,300 166,881 4,232 2.6%16,581 11.0%
Development Services360,065 383,200 927,187 567,122 157.5%543,987 142.0%
Culture & Recreation 604,436 706,400 662,017 57,581 9.5%(44,383) -6.3%
YTD Total 1,185,213 1,284,400 1,836,643 651,431 55.0%552,243 43.0%
Year to Date through August
Charges for Services by Type
2012 vs. 20112012 vs. Budget
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Monthly Financial Report August 2012
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Development Service Fees
2012 budget
2012 actual to date
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Culture & Recreation
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report August 2012
Fines & Penalties totaled $1.1 million and exceeds budget by $23,000 or 2.2% due mainly to civil
infraction (traffic) penalties and red light photo enforcement penalties.
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
Civil Penalties 12,819 9,700 11,596 (1,224) -9.5%1,896 19.5%
Civil Infraction Penalties 457,386 394,900 423,646 (33,740) -7.4%28,746 7.3%
Red Light Photo Enforcement643,882 372,600 401,508 (242,374) -37.6%28,908 7.8%
Parking Infractions 124,535 120,100 77,943 (46,592) -37.4%(42,157) -35.1%
Criminal Traffic Misdemeanor58,696 79,000 66,588 7,891 13.4%(12,412) -15.7%
Criminal Non-Traffic Fines59,578 62,700 63,028 3,450 5.8%328 0.5%
Criminal Costs 10,487 7,500 11,495 1,008 9.6%3,995 53.3%
Non-Court Fines & Penalties57,290 36,100 50,271 (7,019) -12.3%14,171 39.3%
YTD Total 1,424,673 1,082,600 1,106,074 (318,599) -22.4%23,474 2.2%
Year to Date through August
Fines & Forfeits by Type
2012 vs. 20112012 vs. Budget
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Fines & Penalties
2012 budget
2012 actual to date
2011 actual
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Monthly Financial Report August 2012
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Photo Enforcement
2012 budget
2012 actual to date
2011 actual
Miscellaneous revenues include interest and other investment earnings, rents, leases &
concessions, contributions & donations and other miscellaneous income. Revenues in this
category totaled $424,000 and exceed budget by $72,000.
201120122012
Month ActualBudgetActualAmountPercentageAmountPercentage
Interest & Investments 54,344 76,100 58,717 4,373 8.0%(17,383) -22.8%
Rents & Leases 267,261 225,800 234,611 (32,650) -12.2%8,811 3.9%
Contributions & Donations36,293 13,500 34,826 (1,467) -4.0%21,326 158.0%
Other Miscellaneous Revenue81,766 36,400 95,536 13,771 16.8%59,136 162.5%
YTD Total 439,663 351,800 423,690 (15,973) -3.6%71,890 20.4%
Miscellaneous Revenues by Type
Year to Date through August
2012 vs. 20112012 vs. Budget
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Monthly Financial Report August 2012
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. REET revenue totaled $888,000 and is $111,000
below budget.
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Monthly Financial Report August 2012
Enterprise Funds
The following table provides an analysis of the City’s Enterprise funds – showing 2012 revenues
and expenditures by fund.
WaterSewerStormSolid WasteAirportCemeteryGolf
OPERATING REVENUES
Charges for Services 6,147,614 3,301,774 4,916,787 7,723,714 10,401 544,495 765,398
Sewer Metro Service Revenue - 8,661,521 - - - - -
Rents, Leases, Concessions & Other - - - - 396,525 - 273,842
TOTAL OPERATING REVENUES 6,147,614 11,963,295 4,916,787 7,723,714 406,925 544,495 1,039,241
OPERATING EXPENSES:
Administration 1,622,172 1,279,012 1,673,433 496,705 357,002 194,068 150,009
Operations & Maintenance 2,787,802 1,884,481 1,844,526 902,962 8,503 426,655 838,197
Waste Management Payments - - - 5,411,942 - - -
Sewer Metro Services - 8,332,500 - - - - -
Depreciation & Amortization 1,448,898 1,168,786 984,764 12,546 263,805 48,419 209,495
TOTAL OPERATING EXPENSES 5,858,872 12,664,779 4,502,723 6,824,155 629,310 669,142 1,197,701
OPERATING INCOME (LOSS)288,742 (701,484) 414,064 899,559 (222,384) (124,648) (158,460)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 28,175 26,186 12,517 507 1,464 239 513
Other Non Operating Revenue 115,342 46,408 36,096 73,926 670 13,945 9,846
Other Non Operating Expense (28,816) (20,541) - - (25,238) (11,134) -
TOTAL NON-OPERATING REVENUES (EXPENSES)114,700 52,053 48,612 74,433 (23,103) 3,050 10,359
403,443 (649,432) 462,676 973,992 (245,487) (121,598) (148,101)
Contributions 290,886 2,264,368 390,505 - - - -
Transfers In - - - - - 200,000 38,272
Transfers Out (50,000) (50,000) (50,000) - - - -
TOTAL CONTRIBUTIONS & TRANSFERS 240,886 2,214,368 340,505 - - 200,000 38,272
CHANGE IN FUND BALANCE 644,329 1,564,936 803,182 973,992 (245,487) 78,403 (109,829)
BEGINNING FUND BALANCE January 1, 201263,028,695 73,274,006 47,772,204 760,681 9,731,158 814,709 5,144,962
ENDING FUND BALANCE August 31, 201263,673,025 74,838,942 48,575,385 1,734,673 9,485,671 893,112 5,035,132
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
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Monthly Financial Report August 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 WasteAirportCemeteryGolf
OPERATING REVENUES
Charges for Services 6,147,614 3,301,774 4,916,787 7,723,714 10,401 544,495 765,398
Sewer Metro Service Revenue - 8,661,521 - - - - -
Rents, Leases, Concessions & Other - - - - 396,525 - 273,842
TOTAL OPERATING REVENUES 6,147,614 11,963,295 4,916,787 7,723,714 406,925 544,495 1,039,241
OPERATING EXPENSES:
Salaries & Wages 1,367,095 902,708 1,240,990 273,935 13,372 299,575 381,305
Benefits 606,369 389,273 542,237 118,144 4,330 144,486 180,262
Supplies 126,307 50,458 48,923 43,548 - 95,625 200,369
Other Service Charges 1,548,998 1,310,457 784,323 645,163 347,803 36,966 118,262
Intergovernmental Services - - 10,242 195,877 - - -
Waste Management Payments - - - 5,411,942 - - -
Sewer Metro Services - 8,332,500 - - - - -
Interfund Operating Rentals/Supplies 761,205 510,599 887,535 123,000 - 44,072 108,008
Other Expenses - - 3,710 - - - -
Depreciation & Amortization 1,448,898 1,168,786 984,764 12,546 263,805 48,419 209,495
TOTAL OPERATING EXPENSES 5,858,873 12,664,780 4,502,723 6,824,155 629,310 669,143 1,197,701
OPERATING INCOME (LOSS)288,742 (701,485) 414,064 899,559 (222,384) (124,648) (158,460)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 28,175 26,186 12,517 507 1,464 239 513
Contributions - 7,716 - 73,166 - 12,606 9,846
Other Non Operating Revenue 115,342 38,692 36,096 760 670 1,388 -
Gain (Loss) on Sale of Fixed Assets - - - - - (50) -
Debt Service Interest (28,816) (20,541) - - (25,238) (11,134) -
TOTAL NON-OPERATING REVENUES (EXPENSES)114,700 52,053 48,612 74,433 (23,103) 3,050 10,359
Plus Items Not Effecting Working Capital
Depreciation 1,448,898 1,168,786 984,764 12,546 263,805 48,419 209,495
1,852,340 519,354 1,447,440 986,538 18,318 (73,179) 61,394
Increase in Contributions -System Development287,680 2,264,368 390,505 - - - -
Increase in Contributions -Area Assessments 3,206 - - - - - -
Increase in Contributions -Other Governments - - - - - - -
Operating Transfers In - - - - - 200,000 38,272
Increase in Restricted Net Assets 19,442 52,827 - - (6,619) -
Decrease in Long term Receivables - 45,000 - - - - -
Increase in Deferred Credits - - - - (3,979) - -
TOTAL RESOURCES OTHER THAN OPERATIONS310,329 2,362,194 390,505 - (10,598) 200,000 38,272
Net Change in Restricted Net Assets 272,976 142,366 129,180 - (6,547) (50) (24,272)
Increase in Fixed Assets - Salaries 86,626 71,521 39,466 - - - -
Increase in Fixed Assets - Benefits 34,835 27,601 15,091 - - - -
Increase in Fixed Assets - Site Improvements 41,976 - - - 14,466 - -
Increase in Fixed Assets - Equipment 80,548 - - - - - -
Increase in Fixed Assets - Construction 8,110,461 1,028,465 602,204 - - - -
Operating Transfers Out 50,000 50,000 50,000 - - - -
Debt Service Principal 435,568 288,262 - - - - -
TOTAL USES OTHER THAN OPERATIONS 9,112,991 1,608,215 835,941 - 7,919 (50) (24,272)
NET CHANGE IN WORKING CAPITAL (6,950,322) 1,273,333 1,002,004 986,538 (199) 126,871 123,938
BEGINNING WORING CAPITAL January 1, 201216,945,811 12,806,527 9,102,000 632,263 961,633 71,820 68,320
ENDING WORKING CAPITAL August 31, 20129,995,489 14,079,861 10,104,004 1,618,801 961,434 198,691 192,258
NET CHANGE IN WORKING CAPITAL (6,950,322) 1,273,333 1,002,004 986,538 (199) 126,871 123,938
NET WORKING CAPITAL FROM OPERATIONS
15
Monthly Financial Report August 2012
The operating position of all three utilities improved over the same period (year-to-date through
August), reflecting the effects of seasonal water usage and rate increases approved by Council.
The Water Utility’s operating position improved to $288,700 in net income and compares to a
$146,700 net loss for the same period 2011; the Sewer Utility operating position improved to a
$701,500 net operating loss and compares to a $1.7 million net operating loss for the same
period 2011; and the Stormwater Utility ended the period with $414,100 in net income and
compares to $173,000 for the same period last year.
The following chart illustrates the improvement in water revenues and water usage between
2012 and 2011.
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
JanFebMarAprMayJunJulAugSepOctNovDec
Water Revenues ($) vs Water Sold (ccf)
2011 -Present
2011 Water Sales ($)
2012 Water Sales ($)
2011 Water Sold (ccf)
2012 Water Sold (ccf)
The number of rounds played at Auburn Golf Course (AGC) in August was 7,447 as compared to
7,612 rounds for the same month last year. The AGC ended August with a net operating loss of
$158,500 as compared to $86,100 for the same period previous year.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
JanFebMarAprMayJunJulAugSepOctNovDec
Golf Course Operating Revenues by Month
(2012 vs 2011)
2012 Monthly Budget
2012 Actual
2011 Actual
16
Monthly Financial Report August 2012
The Cemetery Fund ended August with a $124,600 net operating loss as compared to a
$132,200 net operating loss for the same period previous year. Revenue for the Cemetery
between 2011 and 2012 were down by 1.2% ($551,100 in 2011 vs $544,500 in 2012).
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
JanFebMarAprMayJunJulAugSepOctNovDec
Cemetery Operating Revenues by Month
(2012 vs 2011)
2012 Monthly
Budget
2012 Actual
2011 Actual
17
Monthly Financial Report August 2012
Internal Service Funds
The following table provides an analysis of the City’s Internal Service funds – showing 2012
revenues and expenditures by fund.
InnovationEquipment
InsuranceFacilities& TechnologyRental
OPERATING REVENUES:
Interfund Charges for Services - 2,291,400 2,756,736 2,000,375
Rents, Leases, Concessions & Other - 98,659 59,078 -
TOTAL OPERATING REVENUES - 2,390,059 2,815,814 2,000,375
OPERATING EXPENSES:
Administration 460,718 - - 467,617
Operations & Maintenance - 2,005,803 2,839,754 948,295
Depreciation & Amortization - - 380,534 508,923
TOTAL OPERATING EXPENSES 460,718 2,005,803 3,220,288 1,924,835
OPERATING INCOME (LOSS)(460,718) 384,256 (404,474) 75,540
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 1,938 2,556 3,919 11,500
Other Non Operating Revenue - 7,292 - 2,492
Gain/Loss on Sale of Fixed Assets - - - 19,449
Other Non Operating Expense - - - -
TOTAL NON-OPERATING REVENUES (EXPENSES)1,938 9,848 3,919 33,441
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS(458,780) 394,104 (400,554) 108,981
Contributions - - 3,230 72,714
Transfers In - 300,000 - -
Transfers Out - (430,000) - (7,000)
TOTAL CONTRIBUTIONS & TRANSFERS - (130,000) 3,230 65,714
CHANGE IN FUND BALANCE (458,780) 264,104 (397,324) 174,694
BEGINNING FUND BALANCE January 1, 2012 2,184,680 1,570,419 4,350,183 10,135,919
ENDING FUND BALANCE August 31, 2012 1,725,900 1,834,522 3,952,859 10,310,614
18
Monthly Financial Report August 2012
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.
InnovationEquipment
InsuranceFacilities& TechnologyRental
OPERATING REVENUES:
Interfund Charges for Services - 2,291,400 2,756,736 2,000,375
Rents, Leases, Concessions & Other - 98,659 59,078
TOTAL OPERATING REVENUES - 2,390,059 2,815,814 2,000,375
OPERATING EXPENSES:
Salaries & Wages - 439,082 880,504 281,417
Benefits - 190,008 357,198 112,270
Supplies - 82,057 226,418 614,870
Other Service Charges 460,718 694,811 1,182,915 264,794
Interfund Operating Rentals/Supplies - 65,264 192,720 142,561
Other Expenses - 534,581 - -
Depreciation & Amortization - - 380,534 508,923
TOTAL OPERATING EXPENSES 460,718 2,005,803 3,220,288 1,924,835
OPERATING INCOME (LOSS)(460,718) 384,256 (404,474) 75,540
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 1,938 2,556 3,919 11,500
Other Non Operating Revenue - 7,292 - 2,492
Gain/Loss on Sale of Fixed Assets - - - 19,449
Other Non Operating Expense - - - -
TOTAL NON-OPERATING REVENUES (EXPENSES)1,938 9,848 3,919 33,441
Plus Items Not Effecting Working Capital
Depreciation - - 380,534 508,923
(458,780) 394,104 (20,021) 617,905
Increase in Contributions -Other Governments - - - -
Increase in Contributions -Other Funds - - 3,230 72,714
Operating Transfers In - 300,000 - -
TOTAL RESOURCES OTHER THAN OPERATIONS - 300,000 3,230 72,714
Net Change in Restricted Net Assets - - 3,230 17,693
Increase in Fixed Assets - Site Improvements - - - 18,493
Increase in Fixed Assets - Equipment - - 332,447 993,997
Increase in Fixed Assets - Construction - - 51,723 -
Operating Transfers Out - 430,000 - 7,000
TOTAL USES OTHER THAN OPERATIONS - 430,000 387,400 1,037,183
NET CHANGE IN WORKING CAPITAL (458,780) 264,104 (404,191) (346,564)
BEGINNING WORING CAPITAL January 1, 2012 2,184,680 1,622,449 3,118,686 5,793,165
ENDING WORKING CAPITAL August 31, 2012 1,725,900 1,886,552 2,714,495 5,446,601
NET CHANGE IN WORKING CAPITAL (458,780) 264,104 (404,191) (346,564)
NET WORKING CAPITAL FROM OPERATIONS
19
Monthly Financial Report August 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 Innovation & Technology Fund
ended with a net loss, reflecting the timing of expenses. 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.
20
SALES TAX SUMMARY
AUGUST 2012 SALES TAX DISTRIBUTIONS (FOR NOVEMBER - JUNE 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-June '11)(Nov '11-June '12)% Diff NAICS AUTOMOTIVE (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff
236 Construction of Buildings 582,840 349,986 264,159 -24.5%441 Motor Vehicle and Parts Dealer 2,560,962 1,678,364 1,827,715 8.9%
237 Heavy and Civil Construction 108,727 55,148 75,465 36.8%447 Gasoline Stations 224,459 143,710 144,948 0.9%
238 Specialty Trade Contractors 604,245 388,386 381,392 -1.8%TOTAL AUTOMOTIVE 2,785,421$ 1,822,074$ 1,972,662$ 8.3%
TOTAL CONSTRUCTION 1,295,813$ 793,520$ 721,016$ -9.1%Overall Change from Previous Year 150,588$
Overall Change from Previous Year (72,504)$
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-June '11)(Nov '11-June '12)% Diff
NAICS MANUFACTURING (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff 442 Furniture and Home Furnishings 218,335 144,518 143,563 -0.7%
311 Food Manufacturing 2,674 1,738 2,247 29.3%443 Electronics and Appliances 126,870 91,415 93,815 2.6%
312 Beverage and Tobacco Products 3,864 2,388 3,681 54.1%444 Building Material and Garden 382,504 245,384 270,143 10.1%
313 Textile Mills 959 927 83 -91.1%445 Food and Beverage Stores 330,776 217,168 222,972 2.7%
314 Textile Product Mills 2,625 1,451 3,668 152.8%446 Health and Personal Care Store 148,387 101,257 102,632 1.4%
315 Apparel Manufacturing 2,519 2,411 197 -91.8%448 Clothing and Accessories 754,407 510,051 510,292 0.0%
316 Leather and Allied Products 175 161 55 -65.8%451 Sporting Goods, Hobby, Books 126,042 88,297 83,928 -4.9%
321 Wood Product Manufacturing 24,075 14,565 15,009 3.0%452 General Merchandise Stores 967,627 673,619 661,500 -1.8%
322 Paper Manufacturing 11,026 9,382 2,698 -71.2%453 Miscellaneous Store Retailers 489,259 314,880 312,499 -0.8%
323 Printing and Related Support 38,511 26,441 19,885 -24.8%454 Nonstore Retailers 235,923 160,117 177,630 10.9%
324 Petroleum and Coal Products 9,771 6,483 5,133 -20.8%TOTAL RETAIL TRADE 3,780,129$ 2,546,706$ 2,578,974$ 1.3%
325 Chemical Manufacturing 7,937 4,835 4,442 -8.1%Overall Change from Previous Year 32,268$
326 Plastics and Rubber Products 9,777 6,838 6,104 -10.7%
327 Nonmetallic Mineral Products 16,218 9,830 10,138 3.1%
331 Primary Metal Manufacturing 452 171 1,518 786.8%2011 Annual Total 2011 YTD 2012 YTD YTD332Fabricated Metal Product Manuf 19,661 12,994 10,498 -19.2%NAICS SERVICES (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff
333 Machinery Manufacturing 14,242 9,397 8,355 -11.1%51*Information 481,043 267,947 261,298 -2.5%
334 Computer and Electronic Produc 16,776 13,738 5,996 -56.4%52*Finance and Insurance 65,518 46,436 28,208 b -39.3%
335 Electric Equipment, Appliances 780 464 292 -37.0%53*Real Estate, Rental, Leasing 303,750 192,649 204,889 6.4%
336 Transportation Equipment Man 362,149 264,952 91,563 a -65.4%541 Professional, Scientific, Tech 174,718 128,575 112,982 -12.1%
337 Furniture and Related Products 13,135 8,006 12,703 58.7%551 Company Management 351 107 11 -90.1%
339 Miscellaneous Manufacturing 25,531 18,315 16,271 -11.2%56*Admin. Supp., Remed Svcs 294,603 204,731 183,477 -10.4%
TOTAL MANUFACTURING 582,858$ 415,487$ 220,537$ -46.9%611 Educational Services 52,563 35,848 33,218 -7.3%
Overall Change from Previous Year (194,949)$ 62*Health Care Social Assistance 40,737 25,224 20,423 -19.0%
71*Arts and Entertainment 148,629 111,395 116,238 4.3%
72*Accomodation and Food Svcs 838,924 543,276 598,527 10.2%
2011 Annual Total 2011 YTD 2012 YTD YTD 81*Other Services 389,241 261,890 262,026 0.1%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff 92*Public Administration 92,163 59,808 99,312 66.1%
481 Air Transportation 24 24 - -100.0%TOTAL SERVICES 2,882,241$ 1,877,884$ 1,920,609$ 2.3%
482 Rail Transportation 17,831 11,280 17,122 51.8%Overall Change from Previous Year 42,725$
484 Truck Transportation 36,261 33,314 7,160 -78.5%
485 Transit and Ground Passengers 68 68 268 292.1%
488 Transportation Support 18,083 12,077 11,711 -3.0%2011 Annual Total 2011 YTD 2012 YTD YTD
491 Postal Service 202 137 214 56.7%NAICS MISCELLANEOUS (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff
492 Couriers and Messengers 1,492 807 427 -47.0%000 Unknown 1,958 383 1 -99.7%
493 Warehousing and Storage 3,121 2,025 4,083 101.6%111-115 Agriculture, Forestry, Fishing 7,355 6,580 1,909 -71.0%
TOTAL TRANSPORTATION 77,083$ 59,732$ 40,987$ -31.4%211-221 Mining & Utilities 21,830 11,732 20,027 70.7%
Overall Change from Previous Year (18,745)$ 999 Unclassifiable Establishments 192,496 175,318 18,651 -89.4%
TOTAL SERVICES 223,639$ 194,014$ 40,589$ -79.1%
Overall Change from Previous Year (153,425)$
2011 Annual Total 2011 YTD 2012 YTD YTD
NAICS WHOLESALE TRADE (Nov '10-Oct '11)(Nov '10-June '11)(Nov '11-June '12)% Diff
423 Wholesale Trade, Durable Goods 1,095,905 733,306 751,147 2.4%GRAND TOTAL 12,887,267$ 8,548,539$ 8,348,227$ 424 Wholesale Trade, Nondurable 150,480 101,233 98,398 -2.8%Overall Change from Previous Year (200,312)$ -2.3%
425 Wholesale Electronic Markets 13,698 4,583 3,308 -27.8%
TOTAL WHOLESALE 1,260,083$ 839,122$ 852,853$ 1.6%
Overall Change from Previous Year 13,731$
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: -$20,014).
09/25/12 file:Monthly Sales Tax Report.xls
Prepared by Auburn Finance Department
21
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 82,196,576$ Various 0.18%
KeyBank Money Market Various 6,195,444 Various 0.15%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FHLMC 12/19/2011 2,000,000 12/19/2014 1.000%
Total Cash & Investments 90,449,770$ 0.204%
Investment Mix % of Total
State Investment Pool 90.9%Current 6-month treasury rate 0.14%
KeyBank Money Market 6.8%Current State Pool rate 0.18%
US Treasury 0.1%KeyBank Money Market 0.15%
FHLMC 2.2%Blended Auburn rate 0.20%
FNMA 0.0%
100.0%
City of Auburn
Investment Portfolio Summary
August 31, 2012
Summary
22