HomeMy WebLinkAboutSept 2013
AGENDA BILL APPROVAL FORM
Agenda Subject: September 2013 Financial Report
Date: November 5, 2013
Department: Finance
Attachments: Monthly Financial
Report
Budget Impact: $0
Administrative Recommendation: For discussion only.
Background Summary:
The purpose of the monthly financial reports is to summarize for the City Council the general state of
Citywide 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 September status report is based on financial data available as of October 25, 2013 for the period
ending September 30, 2013. Sales tax information represents business activity that occurred in July
2013.
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.
Through September 2013, general fund revenues totaled $37.6 million and compare to expenditures of
$38.5 million. General Fund revenues do not yet reflect collections from the second half property tax
payments, which were due in October. Once these collections are received, General Fund revenues are
expected to be sufficient to meet expenditures.
General fund revenues exceeded budget by $1.7 million and exceeded collections for the same period
last year by $760,000. The increase in revenues over the previous year are due to several factors and
include an increase in property taxes of $993,000. Per the 2013-2014 budget, Local Street Fund street
repairs are funded from sales taxes on construction; previously these repairs were funded with property
taxes. Other significant factors contributing to the improvement in General Fund revenues over the
previous year include building permits (up $453,000), City utility taxes (up $330,000), and other licenses
and permits (up $238,000), which include development related permits such as plumbing and electrical
inspection permit fees.
General Fund expenditures totaled $38.5 million and compare to budget of $41.2 million and $39.9 million
for the same period last year. After adjusting for one-time expenses in 2012, 2013 expenditures to date
are comparable to 2012 levels.
During the month of September, 442 pet licenses were sold (as compared to 672 in 2012) resulting in
$14,405 in revenue. Year-to-date, 3,876 licenses have been sold (compared to 4,733 in 2012) bringing in
a total of $116,920.
1
Agenda Subject: September 2013 Financial Report
Date: 11/5/2013
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 September, the Water fund net operating income decreased to $516,980 (as compared to
income of $577,250 in the previous year) reflecting purchased water payments to Tacoma Public Utilities
and cooler/wetter weather conditions. The Sewer fund ended with a $497,800 operating loss (compared
to an operating loss of $1,107,800 the previous year, excluding Metro); the Sewer-Metro Utility ended the
period with operating income of $65,000; and the Stormwater Utility ended with operating income of
$813,490 (as compared to operating income of $437,900 the previous year).
The Golf Course ended the period with an operating loss of $76,150 compared to an operating loss of
$112,440 for the same period last year and reflects an improvement in the year-to-date rounds played at
the Golf Course (41,297 compared to 40,783 for the same period last year). The Cemetery ended
September with net operating income of $60,490 compared to an operating loss of $125,090 for the
previous year, reflecting an increase in operating revenue and a decrease in salaries/benefits
expenditures.
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Facilities, Innovation and Technology, and Equipment Rental. All funds have sufficient
revenues to cover year-to-date expenditures.
Investment Portfolio:
The City’s total cash and investments at the end of September was $112.1 million and compares to
$112.4 million the month prior.
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks
Human Services Planning & CD Fire Planning Park Board Public Works Legal Police
Planning Comm. Other Public Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes No Call for Public Hearing ___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until ___/___/____
Councilmember: Partridge Staff: Coleman
Meeting Date: November 18, 2013 Item Number:
2
Monthly Financial Report September 2013
General Fund 2012
Summary of Sources and Uses Annual
Budget YTD BudgetYTD ActualYTD Actual Amount
Operating Revenues
Property Tax 14,299,417.00$ 7,791,200.00$ 7,960,868.43$ 6,967,458.22$ 169,668.43$ 2.2 %
Sales Tax 11,695,309.00 8,596,000.009,233,566.83 9,433,960.94637,566.837.4 %
Sales Tax - Annexation Credit 1,397,602.00 1,024,000.00 1,236,640.90 1,114,385.60 212,640.9020.8 %
Criminal Justice Sales Tax 1,225,059.00 911,000.00 1,117,505.06 1,029,189.83206,505.0622.7 %
Brokered Natural Gas Tax 301,500.00 247,600.00 221,201.61 251,182.58 (26,398.39)(10.7)%
City Utilities Tax 2,991,933.00 2,218,900.00 2,500,608.41 2,170,842.34 281,708.4112.7 %
Admissions Tax 363,609.00 277,000.00 241,140.98 267,129.59 (35,859.02)(12.9)%
Electric Tax 3,340,500.00 2,605,100.002,529,525.08 2,457,352.42 (75,574.92)(2.9)%
Natural Gas Tax 1,201,900.00 1,070,800.00 914,644.21 991,567.35(156,155.79)(14.6)%
Cable TV Franchise Fee 808,000.00 606,100.00 637,050.65 605,114.93 30,950.655.1 %
Cable TV Franchise Fee - Capital 62,000.00 46,700.00 47,254.10 47,268.79 554.101.2 %
Telephone Tax 2,032,574.00 1,502,700.00 1,326,473.95 1,438,717.72(176,226.05)(11.7)%
Garbage Tax (external)151,504.00 117,800.00 74,607.67 87,148.62 (43,192.33)(36.7)%
Leasehold Excise Tax 50,501.00 33,300.00 19,685.44 28,762.45 (13,614.56)(40.9)%
Gambling Excise Tax 247,965.00 184,900.00 201,329.95 197,016.92 16,429.95 8.9 %
Taxes sub-total 40,169,373.0027,233,100.0028,262,103.2727,087,098.301,029,003.273.8 %
Business License Fees 202,005.00 113,200.00 116,156.00 129,721.50 2,956.002.6 %
Building Permits 1,899,966.00 1,408,000.00 1,684,252.96 1,231,370.83276,252.9619.6 %
Other Licenses & Permits 454,413.00 332,213.00 532,254.39 293,722.90 200,041.3960.2 %
Intergovernmental (Grants, etc.) - (1)4,661,784.00 3,445,700.003,565,554.68 4,300,705.12 119,854.683.5 %
Charges for Services:
General Government Services 94,467.00 71,300.00 85,384.19 92,943.98 14,084.1919.8 %
Public Safety 17,300.00 14,000.00 16,521.49 183,463.13 2,521.4918.0 %
Development Services Fees 963,458.00 770,100.00 868,072.18 1,048,473.64 97,972.1812.7 %
Culture and Recreation 809,717.00 664,600.00 725,425.06 716,691.80 60,825.069.2 %
Fines and Forfeits 1,556,500.00 1,219,100.00 1,073,569.06 1,200,608.02 (145,530.94)(11.9)%
Fees/Charges/Fines sub-total 10,659,610.008,038,213.008,667,190.019,197,700.92628,977.017.8 %
Interests and Other Earnings 64,900.00 45,500.00 35,163.09 64,287.53 (10,336.91)(22.7)%
Rents, Leases and Concessions 308,000.00 234,000.00 253,884.96 252,622.80 19,884.968.5 %
Contributions and Donations 41,000.00 32,000.00 37,647.75 40,978.23 5,647.7517.6 %
Other Miscellaneous 92,200.00 70,400.00 47,397.61 98,816.50 (23,002.39)(32.7)%
Transfers In 267,000.00 267,000.00 193,548.00 17,000.00 (73,452.00)(27.5)%
Insurance Recoveries - Capital & Operating 25,000.00 13,371.12 126,850.17 105,026.84 113,479.05 848.7 %
Other Revenues sub-total 798,100.00 662,271.12 694,491.58 578,731.9032,220.464.9 %
Total Operating Revenues 51,627,083.00$ 35,933,584.12$ 37,623,784.86$ 36,863,531.12$ 1,690,200.74$ 4.7 %
Operating Expenditures
Council & Mayor 1,020,762.99$ 765,572.24$ 764,833.18$ 660,682.80$ 739.06$ 0.1 %
Municipal Court & Probation 682,424.39 565,966.00 505,053.89 2,241,072.86 60,912.1110.8 %
Human Resources 1,608,800.00 1,196,800.00 1,017,519.89 643,764.15 179,280.1115.0 %
Finance 1,315,343.78 1,004,300.00 907,409.17 883,397.48 96,890.839.6 %
City Attorney 1,836,346.17 1,383,000.00 1,385,237.71 1,219,363.36 (2,237.71)(0.2)%
Planning 4,007,214.94 3,005,411.21 2,796,866.17 2,839,603.53208,545.046.9 %
Community & Human Services 1,272,579.74 946,900.00 687,547.11 734,345.47259,352.8927.4 %
Jail - SCORE 7,046,419.00 4,801,321.00 4,704,762.61 2,770,771.63 96,558.392.0 %
Police 20,136,997.2114,830,300.0014,215,450.4213,493,387.71 614,849.584.1 %
Engineering 2,836,440.40 2,083,300.002,026,435.08 1,863,699.68 56,864.922.7 %
Parks and Recreation 8,138,564.48 6,116,000.00 6,063,767.10 5,479,018.95 52,232.900.9 %
Streets 3,273,353.35 2,202,500.00 1,919,544.66 2,075,369.84282,955.3412.8 %
Non-Departmental 2,962,767.93 2,282,075.95 1,506,256.96 4,968,921.11 775,818.9934.0 %
Total Operating Expenditures 56,138,014.38$ 41,183,446.40$ 38,500,683.95$ 39,873,398.57$ 2,682,762.45$ 6.5 %
2013 2013 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
(1) Streamlined Sales Tax mitigation payments represent intergovernmental revenues from the State of Washington
and are presented above in the Intergovernmental Revenue category. Through Q3-2013, $1,455,508.12 in
Streamlined Sales Tax mitigation payments is included and compares to year-to-date budget of $1,497,300.
3
Monthly Financial Report September 2013
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
September 30, 2013 and represents financial data available as of October 25, 2013. The
budgeted year-to-date revenues and operating expenditures are primarily based on
collection/disbursement average for the same period of the two years prior.
General Fund revenues totaled $37.6 million as of the end of September 2013 and compares to
previous year to date collections of $36.9 million and budget of $35.9 million. General Fund
revenues are expected to increase in October, reflecting 2nd half property tax payments. Year-to-
date improvement in General Fund revenue performance is primarily due to continued strength
in sales tax revenues, increased City utility tax revenues, and increased revenues from
development activity (building permits and plumbing/electrical permits). Major commercial
projects contributing to the growth in building permit and development related fees include the
Auburn High School Modernization project, the remodel of The Outlet Collection – Seattle,
several projects at Boeing, as well as the Franciscan Medical Pavilion. In addition, there are
several housing developments within the City that have contributed to the economic growth
including the Ridge at Bowman Creek, Auburn 40 PUD, Lakeland East, and Kendall Ridge. These
improvements are partially offset by reduced collections from natural gas, telephone utility taxes,
and fines and forfeits related to traffic infractions.
General Fund expenditures totaled $38.5 million and compares to budget of $41.2 million.
Department spending is within budget and expectations, with the majority of under-expenditures
due to timing of expenditures and salary savings from current and earlier vacancies.
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General Fund
Revenues vs. Expenditures
2013 Actual
2013 Budget
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Monthly Financial Report September 2013
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 $8.0 million and compare to collections of $8.1 million for
the same period the previous year, after adjusting for transfers to the Local Street Fund (SOS)
program1. The majority of property tax revenues are collected during the months of April and
October, coinciding with the due date for the County property tax billings.
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Property Taxes
2013 budget
2013 actual to date
2012 actual
* Per 2013-2014 budget, Local Street Fund (Fund 103) street repairs are funded from sales taxes on
construction.
1 In 2012, property taxes for the same period totaled $8,076,694.55. Of this amount, $6,967,458.22 was distributed to the
General Fund and $1,109,236.33 was distributed to the Local Street Fund (Fund 103). 5
Monthly Financial Report September 2013
Sales tax distributions Citywide totaled $10.5 million of which $9.2 million was distributed to the
General Fund and $1.3 million to the Local Street Fund (SOS) program.*
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Sales & Use Tax
(Net of Revenue from Construction)
2013 budget
2013 actual to date
2012 actual
* Per 2013-2014 budget, Local Street Fund (Fund 103) street repairs are funded from sales taxes on
construction. Total transferred year-to-date through September: $1,253,469.58. The graphic above presents
sales taxes under the current policy.
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*.
Note: 2012 actuals for the Manufacturing sector include an adjustment of -$74,000 by the State Department
of Revenue as a result of an audit.
20122013
Component GroupActualActualAmount
Construction 812,942.821,253,469.89440,527.0754.2 %
Manufacturing 268,901.53455,540.44186,638.9169.4 %
Transportation & Warehousing44,684.1628,715.55(15,968.61)(35.7)%
Wholesale Trade 983,134.69956,448.95(26,685.74)(2.7)%
Automotive 2,231,342.552,346,459.58115,117.035.2 %
Retail Trade 2,897,395.783,136,407.43239,011.658.2 %
Services 2,162,233.392,271,278.57109,045.185.0 %
Miscellaneous 46,065.0744,143.57(1,921.50)(4.2)%
YTD Total 9,446,699.9910,492,463.981,045,763.9911.1 %
Change from 2012
September-2013
Comparison of Sales Tax Collections by SIC Group
Percentage
6
Monthly Financial Report September 2013
As shown on the prior page, the areas showing the largest amount of increase in revenues
compared to 2012 are in the construction trade and the retail trade categories. These changes
reflect the increased level of construction activity within the City as well as improvement in
general economic conditions and consumer spending. In general, consumer spending accounts
for approximately two-thirds of economic activity.
Year to date sales tax revenue on construction, which is transferred to the Local Street Fund
(Fund 103) for local street repair and maintenance, totals $1,253,000 and exceeds budget by
$241,000, reflecting increased commercial and residential construction activity throughout the
City.
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Sales Tax on Construction Transfer
2013 budget
2013 actual to date
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Monthly Financial Report September 2013
Utility Taxes consists of City interfund utility taxes (Water, Sewer, Storm and Solid Waste) and
external utility taxes (Electric, Natural Gas, Telephone and Solid Waste). Utility tax collections
through September was $7.4 million and compares to $7.1 million collected the same period last
year.
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Utility Tax
2013 budget
2013 actual to date
2012 actual
As shown in the table below, increased collections from City interfund utilities partially offset
lower than expected collections from private utility providers. A mild winter has reduced
consumer heating demands and resulted in a decline in electric and natural gas revenue
collections. Earlier this year, the Washington Utilities and Transportation Commission approved
a rate decrease for natural gas - which reduced the residential rates by approximately 7% and
commercial rates by approximately 10%. This rate decrease was a result of an abundant
domestic supply of natural gas. Telephone utility tax revenues are under budget by $176,000
year-to-date, reflecting the rapid change in this industry as more individuals move from
traditional land lines to cellular and internet-based phone services.
201220132013
Month ActualBudgetActualAmount Amount
City Interfund Utility Taxes2,170,842.342,218,900.002,500,608.41329,766.07 15.2 %281,708.41 12.7 %
Electric 2,457,352.422,605,100.002,529,525.0872,172.66 2.9 %(75,574.92)(2.9)%
Natural Gas 991,567.351,070,800.00914,644.21(76,923.14)(7.8)%(156,155.79)(14.6)%
Telephone 1,438,717.721,502,700.001,326,473.95(112,243.77)(7.8)%(176,226.05)(11.7)%
Solid Waste (external)87,148.62117,800.0074,607.67(12,540.95)(14.4)%(43,192.33)(36.7)%
YTD Total 7,145,628.457,515,300.007,345,859.32200,230.87 2.8 %(169,440.68)(2.3)%
September-2013
Utility Tax by Type
2013 vs. 2012 Actual 2013 vs. Budget
Percentage Percentage
8
Monthly Financial Report September 2013
Cable TV Franchise Fees, which are collected quarterly, totals $637,000 and exceed year to date
budget by $31,000 or 5.1%.
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Cable TV Franchise Fee
2013 budget
2013 actual to date
2012 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.
Total building permit revenues collected through September totals $1.7 million and compares to
budget of $1.4 million. Year-to-date building permits issued through September total 703, and
compares to 690 during the same period last year. Major projects contributing to revenues this
year include the Auburn High School Modernization project, the remodel of The Outlet
Collection – Seattle, various projects at Boeing, the Franciscan Medical Pavilion, the Walter E.
Nelson Building (janitorial supply distributor) as well as several housing developments including
The Ridge at Bowman Creek, Auburn 40 PUD, Lakeland East, and Kendall Ridge.
9
Monthly Financial Report September 2013
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Building Permits
2013 budget
2013 actual to date
2012 actual
Business License revenues collected to date total $116,000 and are on target with budget. The
graphic below reflects the timing of payments by business owners, where the majority of business
license payments are collected during the first two months of the year and the last month of the
year.
10
Monthly Financial Report September 2013
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Business Licenses
2013 budget
2013 actual to date
2012 actual
Intergovernmental includes Grants (Direct & Indirect Federal, State and Local), state shared
revenues and compact revenue from the Muckleshoot Indian Tribe (MIT). Collections to date
total $3.6 million and include the 3rd Quarter payment of Streamlined Sales tax payment in the
amount of $495,983.58.
State shared revenue includes $1,455,508.12 in Streamlined Sales Tax mitigation payments made through September.
201220132013
Revenue ActualBudgetActualAmount Amount
Federal Grants 421,309.5029,500.0046,900.61(374,408.89)(88.9)%17,400.61 59.0%
State Grants 114,708.87112,700.00105,942.79(8,766.08)(7.6)%(6,757.21)(6.0)%
Interlocal Grants 10,048.9223,700.0058,485.7848,436.86 482.0 %34,785.78 146.8%
State Shared Revenue3,213,016.642,836,800.002,887,748.71(325,267.93)(10.1)%50,948.71 1.8%
Muckleshoot Casino Emerg.528,469.00437,500.00437,462.00(91,007.00)(17.2)%(38.00)(0.0)%
Intergovernmental Service13,152.195,500.0029,014.7915,862.60 120.6 %23,514.79 427.5%
YTD Total 4,300,705.123,445,700.003,565,554.68(735,150.44)(17.1)%119,854.68 3.5%
September-2013
Intergovernmental
2013 vs. 2012 Actual2013 vs. Budget
% Change % Change
Charges for Services consists of general governmental services, public safety, development service
fees and cultural & recreation fees. Development service fees and culture and recreation fees
make up over 85% of the revenue within this category. Development service fee collections
through September, which primarily consist of plan check fees, exceed budget by $98,000 to
date. Plan check fees collected in September totaled $69,000 and included projects such as The
Outlet Collection – Seattle and several housing developments including Edgeview and Kendall
Ridge. The year-over-year decline in development service fees reflect plan check fees for the
Auburn High School Modernization and the Boeing re-roofing projects both of which were
received in 2012.
11
Monthly Financial Report September 2013
Culture and recreation revenues are $61,000 higher than budget; reflecting increased activity
from City special events and league fees. The year-over-year decline in Public Safety charges
reflect the elimination of Adult Probation revenue (these revenues are retained by King County
under the City-King County District Court contract).
20122013 2013
Revenue ActualBudgetActualAmount Amount
General Government92,943.9871,300.0085,384.19(7,559.79)(8.1)%14,084.19 19.8 %
Public Safety 183,463.1314,000.0016,521.49(166,941.64)(91.0)%2,521.49 18.0 %
Development Services1,048,473.64770,100.00868,072.18(180,401.46)(17.2)%97,972.18 12.7 %
Culture & Recreation716,691.80664,600.00725,425.068,733.26 1.2 %60,825.06 9.2 %
YTD Total2,041,572.551,520,000.001,695,402.92(346,169.63)(17.0)%175,402.92 11.5 %
September-2013
Charges for Services by Type
2013 vs. 2012 Actual2013 vs. Budget
Percentage Percentage
Note: August 2012 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.
[Source: August 2012 monthly financial report]
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Development Service Fees
2013 budget
2013 actual to date
2012 actual
12
Monthly Financial Report September 2013
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Culture & Recreation
2013 budget
2013 actual to date
2012 actual
Fines & Penalties include traffic and parking infraction penalties, Redflex photo enforcement
violations, criminal fines (including criminal traffic, criminal non traffic and criminal costs) as well
as non court fines such as false alarm and shopping cart fines. Total revenue to date is $1.1
million and compares to budget of $1.2 million. Civil Infraction Penalties include traffic
infractions and other non-parking infractions. The majority of the revenues collected in this
category relate to traffic infractions. Year-to-date through September, a total of $339,000 has
been collected for traffic infractions, compared to $460,000 for the same period last year.
201220132013
Month ActualBudgetActualAmount Amount
Civil Penalties 13,038.4610,800.0014,571.681,533.22 11.8 %3,771.68 34.9 %
Civil Infraction Penalties 463,751.78506,500.00343,145.83(120,605.95)(26.0)%(163,354.17)(32.3)%
Redflex Photo Enforcement429,624.55388,400.00436,427.726,803.17 1.6 %48,027.72 12.4 %
Parking Infractions 85,977.79136,900.0097,053.3511,075.56 12.9 %(39,846.65)(29.1)%
Criminal Traffic Misdemeanor71,468.8664,800.0042,130.62(29,338.24)(41.1)%(22,669.38)(35.0)%
Criminal Non-Traffic Fines66,323.4069,400.0045,636.55(20,686.85)(31.2)%(23,763.45)(34.2)%
Criminal Costs 13,005.8610,600.0020,925.687,919.82 60.9 %10,325.68 97.4 %
Non-Court Fines & Penalties57,417.3231,700.0073,677.6316,260.31 28.3 %41,977.63 132.4 %
YTD Total 1,200,608.021,219,100.001,073,569.06(127,038.96)(10.6)%(145,530.94)(11.9)%
September-2013
Fines & Forfeits by Type
2013 vs. 2012 Actual2013 vs. Budget
Percentage Percentage
13
Monthly Financial Report September 2013
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
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Fines & Penalties
2013 budget
2013 actual to date
2012 actual
14
Monthly Financial Report September 2013
$0
$100
$200
$300
$400
$500
$600
$700
JanFebMarAprMayJunJulAugSepOctNovDec
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Redflex Photo Enforcement
2013 budget
2013 actual to date
2012 actual
Miscellaneous revenues primarily consist of income from facility rentals; other sources within this
category include investment earnings, contributions & donations and other miscellaneous income.
Total revenue collected to date is $374,000 compared to budget of $382,000.
201220132013
Month ActualBudgetActualAmount Amount
Interest & Investments 64,287.5345,500.0035,163.09(29,124.44)(45.3)%(10,336.91)(22.7)%
Rents & Leases 252,622.80234,000.00253,884.961,262.160.5 %19,884.968.5 %
Contributions & Donations40,978.2332,000.0037,647.75(3,330.48)(8.1)%5,647.7517.6 %
Other Miscellaneous Revenue98,816.5070,400.0047,397.61(51,418.89)(52.0)%(23,002.39)(32.7)%
YTD Total 456,705.06381,900.00374,093.41(82,611.65)(18.1)%(7,806.59)(2.0)%
Miscellaneous Revenues by Type
September-2013
2013 vs. 2012 2013 vs. Budget
Percentage Percentage
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. Total revenue at the end of September was $1.5
million and exceeds budget and prior year actuals by $526,000 and $480,000 respectively,
reflecting a robust local and regional real estate market. As shown in the table below, REET
revenues collected in September totals $184,000 compared to $112,000 for the same month in
2012. September revenues reflect the sale of numerous single family homes, as well as the sale of
two large land sales with a combined total of over 40 plots for single family residences.
15
Monthly Financial Report September 2013
2012 2013 2013
Month ActualBudgetActualAmountPercentageAmountPercentage
Jan 61,442.49 71,106.27113,614.7952,172.3084.9%42,508.5259.8%
Feb 155,948.4285,001.51107,484.61(48,463.81)-31.1%22,483.1026.5%
Mar 136,790.25159,419.95143,198.356,408.104.7%(16,221.60)-10.2%
Apr 73,078.0272,572.39124,445.4951,367.4770.3%51,873.1071.5%
May 92,567.53124,286.11162,750.3670,182.8375.8%38,464.2530.9%
Jun 96,292.0599,944.08177,379.5281,087.4784.2%77,435.4477.5%
Jul 152,248.61177,428.46267,976.11115,727.5076.0%90,547.6551.0%
Aug 119,924.2590,201.91200,626.5680,702.3167.3%110,424.65122.4%
Sep 112,406.7575,348.48183,506.7171,099.9663.3%108,158.23143.5%
Oct 482,980.66219,270.33 ##########-100.0%(219,270.33)-100.0%
Nov 108,095.04112,080.14 ##########-100.0%(112,080.14)-100.0%
Dec 174,868.17113,340.35 (174,868.17)-100.0%(113,340.35)-100.0%
YTD Total1,000,698.37955,309.181,480,982.50480,284.1348.0%525,673.3255.0%
Real Estate Excise Tax Revenues
2013 vs. 20122013 vs. Budget
September-2013
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
JanFebMarAprMayJunJulAugSepOctNovDec
Mi
l
l
i
o
n
s
Real Estate Excise Tax
2013 budget
2013 actual to date
2012 actual
Note: October 2012 revenue increase reflected in the graphic above was due in part to the sale of
the Auburn Regional Medical Center to Multicare.
16
Monthly Financial Report September 2013
Pet Licensing
During the month of September, 442 pet licenses were sold resulting in $14,405 in revenue. Year
to date revenues total $116,920, surpassing the 2013 budget goal of $96,000. During the same
month in 2012, 672 licenses were sold, resulting in $18,898 in revenue to King County.
0
100
200
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500
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700
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Ja
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Pet License Sales By Month
2013 vs 2012
2013 Licenses Sold
2012 Licenses Sold
2013 Budget Goal: $ 96,000 or more
2014 Budget Goal: $240,000 or more
Year-to-Date Revenue 2013 (through September) = $116,920
Year-to-Date Licenses 2013 (through September) = 3,876
Year-to-Date Licenses 2012 (through September) = 4,733 as reported by King County
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
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Pet Licensing Revenue By Month
2013
2013 License Revenue
17
Monthly Financial Report September 2013
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
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Cumulative Pet Licensing Revenue & Sales
2013 vs 2012
2013 License Revenue (L)
2013 License Revenue
(Budget Goal: $96,000)
2013 Licenses Sold (R)
2012 Licenses Sold (R)
Enterprise Funds
The detailed Working Capital and Fund Balance statements for Enterprise and Internal Service
funds can be found in the Appendix at the end of this Report.
The Water Utility net operating income decreased from $577,250 in 2012 to $516,980 in 2013,
reflecting the combined effects of the cost of purchased water through Tacoma Public Utilities
and cooler and wetter weather in September (September recorded a record 6.2 inches of rain
versus 1.4 inches of rain in the previous month2).
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
JanFebMarAprMayJunJulAugSepOctNovDec
Th
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Water Revenues vs Water Sold
2013 vs 2012
2012 Water Sales ($)
2013 Water Sales ($)
2012 Water Sold (ccf)
2013 Water Sold (ccf)
2 Source: National Weather Service, National Oceanic and Atmospheric Administration 18
Monthly Financial Report September 2013
The Sewer Utility ended the period with a $497,800 net operating loss and compares to a
$1,107,800 net loss for the same period in 2012 (excluding Metro wastewater treatment revenues
and expenditures, which are now being tracked separately in the Sewer-Metro fund). The
Sewer-Metro Utility ended September with net operating income of $62,000.
The Stormwater Utility ended the period with $813,490 in net operating income which
compares to $437,900 in net income for the same period last year.
A wet September also affected the number of rounds played at the Auburn Golf Course (AGC),
4,235 as compared to 5,716 for the same period last year and 7,181 for the previous month.
However, year-to-date rounds played continue to exceed the previous year, 41,297 versus
40,783 rounds in 2012. The AGC ended September with a net operating loss of $76,150
compared to a loss of $112,440 for the same period last year.
$0
$50
$100
$150
$200
$250
$300
JanFebMarAprMayJunJulAugSepOctNovDec
Th
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Golf Course Operating Revenues & Expenditures By Month
2013 vs 2012
2013 Bud. Revenue
2013 Act. Revenue
2012 Act. Revenue
2013 Act. Expenses
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
JanFebMarAprMayJunJulAugSepOctNovDec
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Cumulative Golf Course Revenues & Expenditures
2013 vs 2012
2013 Bud. Revenue
2013 Act. Revenue
2012 Act. Revenue
2013 Act. Expenses
19
Monthly Financial Report September 2013
The Cemetery Fund ended September with operating income of $60,490 compared to a
$125,090 net operating loss for the same period last year which reflects a decline in Cemetery
operating expenditures and an increase in operating revenue. In September, the number of
interments at the Cemetery totaled 17 (6 burials, 11 cremations) which compares to 17 (11 burials,
6 cremations) for the same period last year. Year-to-date interments total 172 (82 burials, 90
cremations) compared to 187 (81 burials, 106 cremations) in 2012.
$0
$20
$40
$60
$80
$100
$120
$140
JanFebMarAprMayJunJulAugSepOctNovDec
Th
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a
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Cemetery Operating Revenues & Expenditures By Month
2013 vs 2012
2013 Bud. Revenue
2013 Act. Revenue
2012 Act. Revenue
2013 Act. Expenses
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
JanFebMarAprMayJunJulAugSepOctNovDec
Th
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Cumulative Cemetery Revenues & Expenditures
2013 vs 2012
2013 Bud. Revenue
2013 Act. Revenue
2012 Act. Revenue
2013 Act. Expenses
20
Monthly Financial Report September 2013
Internal Service Funds
Operating expenditures within the Insurance Fund represents the premium cost-pool that will be
allocated monthly to other City funds over the course of 2013. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Facilities, Innovation & Technology, or Equipment
Rental Funds. All funds have sufficient revenues to cover year-to-date expenditures.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about the report please
contact us at mchaw@auburnwa.gov or scoleman@auburnwa.gov.
21
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 98,361,929$ Various 0.12%
KeyBank Money Market Various 7,492,676 Various 0.15%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FFCB 4/11/2013 3,000,000 4/11/2016 0.43%
FHLMC 7/25/2013 2,000,000 7/25/2017 1.50%
FNMA 9/6/2013 1,000,000 9/6/2016 1.00%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 112,148,274$ 0.172%
Investment Mix % of Total
State Investment Pool 87.7%Current 6-month treasury rate 0.04%
KeyBank Money Market 6.7%Current State Pool rate 0.12%
US Treasury 0.1%KeyBank Money Market 0.15%
FFCB 2.7%Blended Auburn rate 0.17%
FHLMC 1.8%
FNMA 0.9%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
September 30, 2013
Summary
22
SALES TAX SUMMARY
SEPTEMBER 2013 SALES TAX DISTRIBUTIONS (FOR JULY 2013 RETAIL ACTIVITY)
2012 Annual Total 2012 YTD 2013 YTD YTD 2012 Annual Total 2012 YTD 2013 YTD YTD
NAICS CONSTRUCTION (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff NAICS AUTOMOTIVE (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff
236 Construction of Buildings 483,408.87 294,885.92 593,883.66 101.4%441 Motor Vehicle and Parts Dealer 2,795,163.85 2,067,805.02 2,166,473.19 4.8%
237 Heavy and Civil Construction 114,822.92 84,782.13 71,363.94 -15.8%447 Gasoline Stations 223,463.26 163,537.53 179,986.39 10.1%
238 Specialty Trade Contractors 622,980.45 433,274.77 588,222.29 35.8%TOTAL AUTOMOTIVE 3,018,627.11$ 2,231,342.55$ 2,346,459.58$ 5.2%
TOTAL CONSTRUCTION 1,221,212.24$ 812,942.82$ 1,253,469.89$ 54.2%Overall Change from Previous Year 115,117.03$
Overall Change from Previous Year 440,527.07$
2012 Annual Total 2012 YTD 2013 YTD YTD
2012 Annual Total 2012 YTD 2013 YTD YTD NAICS RETAIL TRADE (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff
NAICS MANUFACTURING (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff 442 Furniture and Home Furnishings 226,308.94 162,818.82 174,342.26 7.1%
311 Food Manufacturing 2,932.07 2,451.61 1,308.06 -46.6%443 Electronics and Appliances 145,390.62 103,261.03 130,520.14 26.4%
312 Beverage and Tobacco Products 5,855.42 4,173.11 5,635.27 35.0%444 Building Material and Garden 425,493.64 306,451.56 333,748.54 8.9%
313 Textile Mills 569.85 88.58 201.22 127.2%445 Food and Beverage Stores 341,378.74 252,490.83 245,665.81 -2.7%
314 Textile Product Mills 4,456.85 3,783.76 3,017.42 -20.3%446 Health and Personal Care Store 148,812.47 114,074.94 132,599.23 16.2%
315 Apparel Manufacturing 217.67 201.77 267.85 32.8%448 Clothing and Accessories 772,153.02 567,573.02 646,218.95 13.9%316 Leather and Allied Products 58.91 55.11 7.13 -87.1%451 Sporting Goods, Hobby, Books 120,507.49 92,914.15 90,228.92 -2.9%
321 Wood Product Manufacturing 31,417.29 17,724.38 57,800.58 226.1%452 General Merchandise Stores 967,039.39 741,509.19 738,740.36 -0.4%
322 Paper Manufacturing 3,943.50 2,950.27 2,657.82 -9.9%453 Miscellaneous Store Retailers 508,326.14 355,611.68 403,216.41 13.4%
323 Printing and Related Support 28,275.22 21,648.75 18,207.11 -15.9%454 Nonstore Retailers 268,502.71 200,690.56 241,126.81 20.1%
324 Petroleum and Coal Products 10,532.00 7,994.39 7,028.15 -12.1%TOTAL RETAIL TRADE 3,923,913.16$ 2,897,395.78$ 3,136,407.43$ 8.2%
325 Chemical Manufacturing 8,088.54 5,293.47 6,441.71 21.7%Overall Change from Previous Year 239,011.65$
326 Plastics and Rubber Products 9,468.87 7,181.36 6,914.98 -3.7%
327 Nonmetallic Mineral Products 17,323.71 12,049.98 14,460.04 20.0%
331 Primary Metal Manufacturing 1,765.68 1,710.97 592.22 -65.4%2012 Annual Total 2012 YTD 2013 YTD YTD
332 Fabricated Metal Product Manuf 24,964.99 16,431.47 6,793.71 d -58.7%NAICS SERVICES (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff
333 Machinery Manufacturing 12,890.22 8,854.24 15,547.85 75.6%51*Information 396,353.38 295,319.54 325,767.62 10.3%
334 Computer and Electronic Produc 10,260.16 6,761.82 10,297.78 52.3%52*Finance and Insurance 53,290.56 33,668.12 b 69,832.98 107.4%
335 Electric Equipment, Appliances 426.32 330.48 1,089.35 229.6%53*Real Estate, Rental, Leasing 326,259.42 229,539.65 207,620.25 -9.5%
336 Transportation Equipment Man 187,175.19 116,654.10 a 256,922.34 120.2%541 Professional, Scientific, Tech 173,274.20 129,605.40 137,518.48 6.1%
337 Furniture and Related Products 18,721.33 13,933.91 18,074.43 29.7%551 Company Management 15.78 13.58 77.41 470.0%
339 Miscellaneous Manufacturing 25,368.10 18,628.00 22,275.42 19.6%56*Admin. Supp., Remed Svcs 334,354.06 202,471.08 255,791.27 26.3%
TOTAL MANUFACTURING 404,711.89$ 268,901.53$ 455,540.44$ 69.4%611 Educational Services 53,671.83 36,622.68 34,913.37 -4.7%
Overall Change from Previous Year 186,638.91$ 62*Health Care Social Assistance 114,832.81 22,683.81 28,162.44 24.2%
71*Arts and Entertainment 153,417.34 127,870.48 122,218.99 -4.4%
72*Accomodation and Food Svcs 920,555.95 681,135.35 716,963.61 5.3%
2012 Annual Total 2012 YTD 2013 YTD YTD 81*Other Services 388,278.72 294,579.50 290,723.94 -1.3%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff 92*Public Administration 142,187.99 108,724.20 81,688.21 -24.9%
481 Air Transportation 0.00 0.00 0.00 N/A TOTAL SERVICES 3,056,492.04$ 2,162,233.39$ 2,271,278.57$ 5.0%
482 Rail Transportation 19,181.85 18,054.19 8,604.05 -52.3%Overall Change from Previous Year 109,045.18$
484 Truck Transportation 10,245.48 7,834.07 (4,936.54)c -163.0%
485 Transit and Ground Passengers 268.22 268.22 93.19 -65.3%
488 Transportation Support 18,841.37 13,372.95 17,489.78 30.8%2012 Annual Total 2012 YTD 2013 YTD YTD
491 Postal Service 470.02 271.38 655.25 141.5%NAICS MISCELLANEOUS (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff
492 Couriers and Messengers 568.35 438.58 1,000.52 128.1%000 Unknown 1.04 1.04 0.00 -100.0%
493 Warehousing and Storage 5,376.49 4,441.77 5,809.30 30.8%111-115 Agriculture, Forestry, Fishing 2,868.29 2,079.19 3,265.54 57.1%
TOTAL TRANSPORTATION 54,951.78$ 44,681.16$ 28,715.55$ -35.7%211-221 Mining & Utilities 30,228.91 23,231.17 16,706.04 -28.1%
Overall Change from Previous Year (15,965.61)$ 999 Unclassifiable Establishments 27,601.09 20,753.67 24,171.99 16.5%
TOTAL SERVICES 60,699.33$ 46,065.07$ 44,143.57$ -4.2%
Overall Change from Previous Year (1,921.50)$
2012 Annual Total 2012 YTD 2013 YTD YTD
NAICS WHOLESALE TRADE (Nov '11-Oct '12)(Nov '11 - July '12)(Nov '12 - July '13)% Diff
423 Wholesale Trade, Durable Goods 1,137,932.04 866,687.87 831,213.25 -4.1%GRAND TOTAL 13,037,325.52$ 9,446,696.99$ 10,492,463.98$
424 Wholesale Trade, Nondurable 153,721.30 112,731.91 121,438.09 7.7%Overall Change from Previous Year 1,045,766.99$ 11.1%
425 Wholesale Electronic Markets 5,064.63 3,714.91 3,797.61 2.2%
TOTAL WHOLESALE 1,296,717.97$ 983,134.69$ 956,448.95$ -2.7%
Overall Change from Previous Year (26,685.74)$
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).
c. Wa. State Dept of Revenue audit adjustment to sales tax returns for period Jan 2013 (adjustment: -$11,382).
d. Wa. State Dept of Revenue audit adjustment to sales tax returns for period May 2013 (adjustment - $30,493).
09/26/13 file:Monthly Sales Tax Report.xls
Prepared by Auburn Finance Department
23
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 8,574,579.70 5,031,755.96 - 6,097,516.39 9,608,566.69 11,503.87 734,491.04 933,752.60 - - - -
Interfund Charges For Service - - - - - - - - - 2,635,019.00 3,585,965.00 2,207,860.29
Sewer Metro Service Revenue - - 10,885,244.17 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 457,454.66 - 358,359.63 - 91,300.32 63,719.25 -
TOTAL OPERATING REVENUES 8,574,579.70 5,031,755.96 10,885,244.17 6,097,516.39 9,608,566.69 468,958.53 734,491.04 1,292,112.23 - 2,726,319.32 3,649,684.25 2,207,860.29
OPERATING EXPENSES
Salaries & Wages 1,706,919.74 1,131,832.95 - 1,493,620.76 293,803.46 15,605.00 293,358.75 446,277.02 - 480,086.85 1,037,113.13 349,547.36
Benefits 774,559.04 498,894.38 - 652,751.96 134,211.70 5,153.82 144,405.61 217,458.42 - 210,944.72 429,733.71 156,562.98
Supplies 141,831.96 52,301.24 - 57,716.38 38,582.60 285.70 106,642.88 214,052.26 - 69,788.38 124,991.38 606,025.86
Other Service Charges 2,880,841.57 1,696,680.17 - 953,581.97 804,235.04 363,544.84 44,185.37 138,064.94 415,548.55 1,079,824.88 1,173,991.17 335,026.73
Intergovernmental Services - 2,481.81 - 11,740.65 206,327.16 - - - - - - -
Waste Management Payments - - - - 6,741,269.60 - - - - - - -
Sewer Metro Services - - 10,823,300.01 - - - - - - - - -
Interfund Operating Rentals & Supplies 838,242.01 733,276.16 - 969,397.40 135,675.00 - 42,147.00 123,372.00 - 89,406.00 226,278.00 185,693.35
Other Expenses - - - - - - - - - - - -
Depreciation & Amortization 1,715,205.61 1,414,092.65 - 1,145,213.35 14,114.47 302,557.45 43,262.58 229,039.79 - - 330,320.92 531,124.69
TOTAL OPERATING EXPENSES 8,057,599.93 5,529,559.36 10,823,300.01 5,284,022.47 8,368,219.03 687,146.81 674,002.19 1,368,264.43 415,548.55 1,930,050.83 3,322,428.31 2,163,980.97
OPERATING INCOME (LOSS)516,979.77 (497,803.40) 61,944.16 813,493.92 1,240,347.66 (218,188.28) 60,488.85 (76,152.20) (415,548.55) 796,268.49 327,255.94 43,879.32
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 19,536.77 16,025.87 26.16 17,005.07 1,016.75 1,231.40 305.94 511.93 1,648.13 2,212.95 3,900.28 7,000.36
Contributions - - - 69,770.47 27,745.13 - 55.00 - - 35,860.00 - -
Other Non-Operating Revenue 113,696.13 144,697.01 - 33,215.99 1,430.00 1,875.00 (0.50) - - - 23,581.05 35,548.04
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - 17,566.50
Debt Service Interest (242,692.73) (19,099.90) - (157,207.91) - (23,137.50) (11,133.72) - - - - -
Other Non-Operating Expense - - - - - - - - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES (109,459.83) 141,622.98 26.16 (37,216.38) 30,191.88 (20,031.10) (10,773.28) 511.93 1,648.13 38,072.95 27,481.33 60,114.90
PLUS ITEMS NOT EFFECTING WORKING CAPITAL
Depreciation 1,715,205.61 1,414,092.65 - 1,145,213.35 14,114.47 302,557.45 43,262.58 229,039.79 - - 330,320.92 531,124.69
NET WORKING CAPITAL FROM OPERATIONS 2,122,725.55 1,057,912.23 61,970.32 1,921,490.89 1,284,654.01 64,338.07 92,978.15 153,399.52 (413,900.42) 834,341.44 685,058.19 635,118.91
Increase In Contributions - System Development 1 490,424.00 2,322,300.25 - 531,480.21 - - - - - - - -
Increase In Contributions - Area Assessments 224.13 2,253.61 - - - - - - - - - -
Increase In Contributions - Other Governments - - - - - 54,897.06 - - - - - -
Increase In Contributions - Other Funds - - - - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - - - - -
Proceeds of Debt Activity 8,651,428.91 - - 5,235,686.06 - - - - - - - -
Operating Transfers In - - - - - - - 46,687.64 - - - -
Increase In Restricted Net Assets 18,832.94 21,650.50 - - - 4,415.33 - - - - - -
Decrease In Long-Term Receivables - 112,500.00 - - - - - - - - - -
Increase In Deferred Credits - - - - - 3,865.61 - - - - - -
TOTAL RESOURCES OTHER THAN OPERATIONS 9,160,909.98 2,458,704.36 - 5,767,166.27 - 63,178.00 - 46,687.64 - - - -
Net Change In Restricted Net Assets 519,910.13 1,602,522.37 (1,460,182.19) 257,091.63 - 4,415.33 - (12,779.19) - - - -
Increase In Fixed Assets - Salaries 180,537.43 39,631.20 - 115,930.86 - - - - - - - -
Increase In Fixed Assets - Benefits 71,141.40 16,660.81 - 49,823.71 - - - - - - - -
Increase In Fixed Assets - Site Improvements 29,113.27 - - 11,782.20 - - - - - - - 8,470.78
Increase In Fixed Assets - Equipment - - - 17,960.19 - - - - - - 215,116.04 174,146.18
Increase In Fixed Assets - Construction 4,345,156.37 233,516.04 - 915,472.63 - 111,290.51 - - - - - -
Operating Transfers Out 50,000.00 50,000.00 - 124,000.00 - - - - - 373,139.96 - 7,000.00
Debt Service Principal 629,868.48 288,261.96 - 140,700.00 - - - - - - - -
TOTAL USES OTHER THAN OPERATIONS 5,825,727.08 2,230,592.38 (1,460,182.19) 1,632,761.22 - 115,705.84 - (12,779.19) - 373,139.96 215,116.04 189,616.96
NET CHANGE IN WORKING CAPITAL 5,457,908.45 1,286,024.21 1,522,152.51 6,055,895.94 1,284,654.01 11,810.23 92,978.15 212,866.35 (413,900.42) 461,201.48 469,942.15 445,501.95
BEGINNING WORKING CAPITAL - January 1, 2013 10,196,281.10 12,072,579.09 - 10,218,848.21 1,018,487.34 818,912.00 182,098.05 90,691.62 2,028,681.08 1,473,040.96 2,885,527.19 5,559,564.94
ENDING WORKING CAPITAL - September 30, 2013 15,654,189.55 13,358,603.30 1,522,152.51 16,274,744.15 2,303,141.35 830,722.23 275,076.20 303,557.97 1,614,780.66 1,934,242.44 3,355,469.34 6,005,066.89
NET CHANGE IN WORKING CAPITAL 5,457,908.45 1,286,024.21 1,522,152.51 6,055,895.94 1,284,654.01 11,810.23 92,978.15 212,866.35 (413,900.42) 461,201.48 469,942.15 445,501.95
ENTERPRISE FUNDS INTERNAL SERVICE FUNDSWORKING CAPITAL
The following table presents the Working Capital Statement for each of the City's Enterprise and Internal Service funds. Working Capital is generally defined as the difference between current assets and current liabilities.
CEMETERY GOLF INSURANCE FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT
24
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 8,574,579.70 5,031,755.96 - 6,097,516.39 9,608,566.69 11,503.87 734,491.04 933,752.60 - - - -
Interfund Charges For Service - - - - - - - - - 2,635,019.00 3,585,965.00 2,207,860.29
Sewer Metro Service Revenue - - 10,885,244.17 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 457,454.66 - 358,359.63 - 91,300.32 63,719.25 -
TOTAL OPERATING REVENUES 8,574,579.70 5,031,755.96 10,885,244.17 6,097,516.39 9,608,566.69 468,958.53 734,491.04 1,292,112.23 - 2,726,319.32 3,649,684.25 2,207,860.29
OPERATING EXPENSES
Administration 2,144,657.36 1,555,980.76 - 2,069,560.03 539,201.50 384,184.28 176,920.07 172,822.21 415,548.55 - - 647,410.26
Operations & Maintenance 4,197,737.00 2,559,485.95 - 2,069,249.09 1,073,633.46 405.08 453,819.54 966,402.43 - 1,930,050.83 2,992,107.39 985,446.02
Waste Management Payments - - - - 6,741,269.60 - - - - - - -
Sewer Metro Services - - 10,823,300.01 - - - - - - - - -
Depreciation & Amortization 1,715,205.61 1,414,092.65 - 1,145,213.35 14,114.47 302,557.45 43,262.58 229,039.79 - - 330,320.92 531,124.69
TOTAL OPERATING EXPENSES 8,057,599.97 5,529,559.36 10,823,300.01 5,284,022.47 8,368,219.03 687,146.81 674,002.19 1,368,264.43 415,548.55 1,930,050.83 3,322,428.31 2,163,980.97
OPERATING INCOME (LOSS)516,979.73 (497,803.40) 61,944.16 813,493.92 1,240,347.66 (218,188.28) 60,488.85 (76,152.20) (415,548.55) 796,268.49 327,255.94 43,879.32
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 19,536.77 16,025.87 26.16 17,005.07 1,016.75 1,231.40 305.94 511.93 1,648.13 2,212.95 3,900.28 7,000.36
Other Non-Operating Revenue 113,696.13 144,697.01 - 102,986.46 29,175.13 1,875.00 54.50 - - 35,860.00 23,581.05 35,548.04
Gain (Loss) On Sale Of Fixed Assets - - - - - - - - - - - 17,566.50
Other Non-Operating Expense (242,692.73) (19,099.90) - (157,207.91) - (23,137.50) (11,133.72) - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES (109,459.83) 141,622.98 26.16 (37,216.38) 30,191.88 (20,031.10) (10,773.28) 511.93 1,648.13 38,072.95 27,481.33 60,114.90
407,519.90 (356,180.42) 61,970.32 776,277.54 1,270,539.54 (238,219.38) 49,715.57 (75,640.27) (413,900.42) 834,341.44 354,737.27 103,994.22
Contributions 1 490,648.13 2,324,553.86 - 531,480.21 - 54,897.06 - - - - - -
Transfers In - - - - - - - 46,687.64 - - - -
Transfers Out (50,000.00) (50,000.00) - (124,000.00) - - - - - (373,139.96) - (7,000.00)
TOTAL CONTRIBUTIONS & TRANSFERS 440,648.13 2,274,553.86 - 407,480.21 - 54,897.06 - 46,687.64 - (373,139.96) - (7,000.00)
CHANGE IN FUND BALANCE 848,168.03 1,918,373.44 61,970.32 1,183,757.75 1,270,539.54 (183,322.32) 49,715.57 (28,952.63) (413,900.42) 461,201.48 354,737.27 96,994.22
BEGINNING FUND BALANCE - January 1, 2013 67,719,034.00 73,319,311.00 1,460,182.00 49,964,488.00 1,128,442.00 9,439,263.00 872,103.00 8,578,904.00 2,028,681.00 1,415,971.00 4,069,294.00 10,502,921.00
ENDING FUND BALANCE - September 30, 2013 68,567,202.03 75,237,684.44 1,522,152.32 51,148,245.75 2,398,981.54 9,255,940.68 921,818.57 8,549,951.37 1,614,780.58 1,877,172.48 4,424,031.27 10,599,915.22
1 Sewer contributions reflect System Development Charges resulting from the Goedecke land swap agreement with the WA Department of Transportation.
FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2013 revenues and expenditures by fund.
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
CEMETERY GOLF INSURANCE FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT
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