HomeMy WebLinkAboutQ2 2014 Financial Report.pdf
AGENDA BILL APPROVAL FORM
Agenda Subject: 2nd Quarter 2014 Financial Report Date: August 12, 2014
Department: Finance
Attachments: Quarterly Financial
Report
Budget Impact: $0
Administrative Recommendation: For discussion only.
Background Summary:
The purpose of the quarterly financial report 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 2nd Quarter status report is based on financial data available as of July 29, 2014 for the period ending
June 30, 2014. Sales tax information represents business activity that occurred through April 2014.
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 June 2014, General Fund revenues totaled $30.2 million and were sufficient to support total
General Fund expenditures of $26.5 million. General Fund revenues exceed budget by $2.3 million, or
8.2% primarily due to increases in retail sales tax collections, building permit revenues, and development
services fees.
General Fund expenditures through June totaled $26.5 million and compare to prior year expenditures of
$25.5 million. Effective January 1, 2014, an accounting change occurred whereas the Golf Course fund
is now reported under the General Fund. After recognizing this change, year to date expenditures are
$235,000 higher than the same period the prior year – which equates to a 1.0% increase. Through June
2014, payments to SCORE have decreased by $962,000 compared to the same period the year prior.
The majority of this reduction in expenditures is due to reduced monthly payments for incarceration
services (current year monthly payments are based upon prior year City inmate counts). Overall
departmental spending is $1.7 million - or 5.9% under budget due to staff vacancies, underspend of
contingency funds, and continued vigilance in monitoring general spending.
Year to date, 3,063 pet licenses have been sold resulting in $76,930 in revenue. For the same period in
2013, 2,619 licenses were sold resulting in $77,295 in revenue.
Enterprise Funds:
The City’s seven enterprise funds account for operations with revenues primarily provided from user fees,
charges or contracts for services.
At the end of the second quarter, the Water fund’s net operating income increased to $273,800 and
compares to income of $134,700 the previous year. The Sewer fund ended the quarter with $81,000 net
operating income compared to an operating loss of $392,100 the previous year; the Sewer-Metro Utility
ended the quarter with operating income of $58,300 compared to an operating loss of $52,900 the
previous year; and the Stormwater Utility ended the quarter with operating income of $1,356,400 and
compares to operating income of $630,300 the previous year.
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Agenda Subject: 2nd Quarter 2014 Financial Report
Date: 8/12/2014
The Cemetery ended the second quarter with a net operating loss of $28,000 compared to an operating
loss of $3,100 the previous year.
Internal Service Funds:
Internal Service Funds provide services to other City departments and include functions such as
Insurance, Worker’s Compensation, 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 Q2-2014 was $119.4 million, and compares to $113.9
million at the end of Q1-2014.
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: Wales Staff: Coleman
Meeting Date: August 18, 2014 Item Number:
2
Quarterly Financial Report Through Q2 2014
(1) Through December 31, 2013, Golf Course revenues and expenditures were reported under Fund 437. Effective
January 1, 2014, Golf Course revenues and expenditures are now reported in the General Fund (above). Therefore,
when comparing 2014 General Fund actuals to prior year, it is important to recognize this change.
General Fund 2013
Summary of Sources and Uses Annual
Budget YTD Budget YTD Actual YTD Actual Amount
Operating Revenues
Property Tax 15,699,417 8,212,400 8,345,532 7,554,840 133,132 1.6 %
Sales Tax 13,048,552 6,222,600 6,720,176 6,022,742 497,576 8.0 %
Sales Tax - Annexation Credit 1,404,590 661,700 886,979 800,828 225,279 34.0 %
Criminal Justice Sales Tax 1,231,185 587,400 791,944 726,619 204,544 34.8 %
Brokered Natural Gas Tax 303,008 197,400 174,971 172,730 (22,429)(11.4)%
City Utilities Tax 3,203,673 1,549,300 1,683,352 1,656,266 134,052 8.7 %
Admissions Tax 365,427 145,400 133,624 130,125 (11,776)(8.1)%
Electric Tax 3,373,905 1,828,100 1,901,539 1,764,812 73,439 4.0 %
Natural Gas Tax 1,213,919 809,600 786,907 686,121 (22,693)(2.8)%
Cable TV Franchise Fee 816,000 403,500 441,481 423,065 37,981 9.4 %
Cable TV Franchise Fee - Capital 62,310 31,300 31,598 31,530 298 1.0 %
Telephone Tax 2,042,737 988,000 916,112 868,991 (71,888)(7.3)%
Garbage Tax (external)96,261 48,800 52,926 49,279 4,126 8.5 %
Leasehold Excise Tax 50,754 25,800 17,649 19,045 (8,151)(31.6)%
Gambling Excise Tax 250,237 129,900 137,999 138,630 8,099 6.2 %
Taxes sub-total 43,161,975 21,841,200 23,022,789 21,045,624 1,181,589 5.4 %
Business License Fees 203,015 97,400 94,037 103,077 (3,364)(3.5)%
Building Permits 1,169,160 563,600 833,282 1,305,734 269,682 47.8 %
Other Licenses & Permits 528,072 237,400 327,199 346,490 89,799 37.8 %
Intergovernmental (Grants, etc.)5,087,759 2,386,736 2,377,371 2,374,040 (9,365)(0.4)%
Charges for Services:
General Government Services 94,783 47,500 64,122 51,839 16,622 35.0 %
Public Safety 17,351 10,300 287,781 13,615 277,481 2694.0 %
Development Services Fees 738,881 353,100 638,333 678,789 285,233 80.8 %
Culture and Recreation - (1)2,047,549 1,022,400 1,110,564 494,260 88,164 8.6 %
Fines and Forfeits 1,562,575 830,300 758,806 742,761 (71,494)(8.6)%
Fees/Charges/Fines sub-total 11,449,145 5,548,736 6,491,494 6,110,604 942,758 17.0 %
Interests and Other Earnings 42,230 21,700 18,714 23,920 (2,986)(13.8)%
Rents, Leases and Concessions - (1)543,150 295,400 371,808 184,868 76,408 25.9 %
Contributions and Donations 30,000 14,600 25,789 27,509 11,189 76.6 %
Other Miscellaneous - (1)113,200 45,300 68,888 33,177 23,588 52.1 %
Transfers In 92,000 92,000 121,097 193,548 29,097 31.6 %
Insurance Recoveries - Capital & Operating 25,000 12,600 40,229 56,042 27,629 219.3 %
Other Revenues sub-total 845,580 481,600 646,526 519,064 164,926 34.2 %
Total Operating Revenues 55,456,700 27,871,536 30,160,808 27,675,292 2,289,272 8.2 %
Operating Expenditures
Council & Mayor 718,926 350,668 381,106 504,870 (30,438)(8.7)%
Administrative Services 828,034 414,017 327,627 0 86,389 20.9 %
Community & Human Services 1,379,335 746,500 443,788 501,722 302,712 40.6 %
Municipal Court & Probation 1,870,966 129,784 85,577 184,008 44,207 34.1 %
Human Resources 1,557,163 738,500 642,027 690,245 96,473 13.1 %
Finance 1,369,895 694,000 567,757 601,115 126,243 18.2 %
City Attorney 1,880,945 975,500 827,842 987,778 147,658 15.1 %
Community Development 4,069,107 2,040,626 1,880,297 1,894,189 160,329 7.9 %
Jail - SCORE 5,786,100 2,593,625 2,464,589 3,426,651 129,036 5.0 %
Police 21,238,447 10,344,100 9,965,305 9,240,696 378,795 3.7 %
Public Works 2,653,441 1,273,100 1,279,946 1,273,989 (6,846)(0.5)%
Parks, Arts & Recreation - (1)9,512,253 4,756,200 4,761,923 3,961,902 (5,723)(0.1)%
Streets 3,295,760 1,427,600 1,469,914 1,279,550 (42,314)(3.0)%
Non-Departmental 3,268,607 1,696,104 1,411,850 976,455 284,254 16.8 %
Total Operating Expenditures 59,428,978 28,180,323 26,509,549 25,523,173 1,670,774 5.9 %
2014 2014 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
3
Quarterly Financial Report Through Q2 - 2014
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
June 30, 2014 and represents financial data available as of July 29, 2014. The budgeted revenues
and operating expenditures are primarily based on the collection/disbursement average for the
same period of the two years prior.
Through the first half of 2014, General Fund revenues totaled $30.2 million and compare to
budget of $27.9 million and previous year-to-date collections of $27.7 million. Some highlights
year to date include:
- Property Tax revenues totaled $8.3 million and are in line with 2014 budget
expectations of $8.2 million.
- Sales Tax revenues totaled $6.7 million and exceeds budget by 8.0% or $498,000.
- Criminal Justice Sales Taxes and Sales Taxes from Annexation exceed budget
expectations by $430,000 through the second quarter of 2014.
- Fees/Charges/Fines totaled $6.5 million and exceeds budget by $943,000 primarily due
to stronger than budgeted revenues from development activity.
General Fund expenditures through the first half of 2014 totaled $26.5 million and compare to
budget of $28.2 million. Due to an accounting change effective January 1, 2014 all revenues and
expenditures related to the Auburn Golf Course are now reported under the General Fund.
Therefore it is important to recognize this shift when comparing 2014 performance to prior year
performance. After adjusting the Golf Course expenditures through June of 2013 in the amount
of $752,000, the year to date General Fund expenditures are running 1.0% higher than the same
period the prior year.
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General Fund
Revenues vs. Expenditures
2014 Actual
2014 Budget
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Quarterly Financial Report Through Q2 - 2014
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 totaled $8.3 million and compare to budget of $8.2 million and
are in line with 2014 expectations due to the levy correction. The majority of property tax
revenues are collected during the months of April and October, coinciding with the due dates for
the County property tax billings.
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Property Taxes
2014 budget
2014 actual to date
2013 actual
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Quarterly Financial Report Through Q2 - 2014
Sales tax distributions Citywide totaled $7.6 million of which $6.7 million was distributed to the
General Fund, and $859,000 to the Local Street Fund (SOS) program.* Year to date Sales Tax
revenue collections in the General Fund exceed budget expectations by $498,000, or 8.0%.
* Per 2013-2014 budget, Local Street Fund (Fund 103) street repairs are funded from sales taxes on
construction. Total transferred in through Q2-2014 is $858,847. 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.
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Sales & Use Tax
(Net of Revenue from Construction)
2014 budget
2014 actual to date
2013 actual
2013 2014
Component Group Actual Actual Amount
Construction 789,208 858,847 69,639 8.8 %
Manufacturing 314,598 576,227 261,629 83.2 %
Transportation & Warehousing 18,193 19,651 1,458 8.0 %
Wholesale Trade 622,225 583,189 (39,036)(6.3)%
Automotive 1,480,325 1,546,982 66,657 4.5 %
Retail Trade 2,085,198 2,315,684 230,486 11.1 %
Services 1,489,325 1,620,072 130,747 8.8 %
Miscellaneous 36,197 75,543 39,346 108.7 %
YTD Total 6,835,269 7,596,196 760,927 11.1 %
Change from 2013
June-2014
Comparison of Sales Tax Collections by SIC Group
Percentage
6
Quarterly Financial Report Through Q2 - 2014
As shown on the prior page, sales tax revenues collected through the first half of 2014 exceed
prior year collections by $761,000. The areas showing the largest amount of increase in revenues
compared to 2013 are in the manufacturing and retail trade categories.
Total sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103)
for local street repair and maintenance, totals $858,847 year to date and exceeds budget by
$203,000 reflecting increased commercial and residential construction activity throughout the
City.
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Sales Tax on Construction Transfer
2014 budget
2014 actual to date
2013 actual
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Quarterly Financial Report Through Q2 - 2014
Utility Taxes consist of City interfund utility taxes (Water, Sewer, Storm and Solid Waste) and
external utility taxes (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes collected
through the first half of 2014 totaled $5.3 million and compare to $5.0 million collected in the
same period last year.
As shown in the table below, utility tax revenues year to date exceed budget expectations by
$117,000 or 2.2%.
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Utility Tax
2014 budget
2014 actual to date
2013 actual
2013 2014 2014
Month Actual Budget Actual Amount Amount
City Interfund Utility Taxes 1,656,266 1,549,300 1,683,352 27,086 1.6 %134,052 8.7 %
Electric 1,764,812 1,828,100 1,901,539 136,727 7.7 %73,439 4.0 %
Natural Gas 686,121 809,600 786,907 100,786 14.7 %(22,693)(2.8)%
Telephone 868,991 988,000 916,112 47,121 5.4 %(71,888)(7.3)%
Solid Waste (external)49,279 48,800 52,926 3,648 7.4 %4,126 8.5 %
YTD Total 5,025,470 5,223,800 5,340,837 315,367 6.3 %117,037 2.2 %
June-2014
Utility Tax by Type
2014 vs. 2013 Actual 2014 vs. Budget
Percentage Percentage
8
Quarterly Financial Report Through Q2 - 2014
Cable TV Franchise Fees, which are collected quarterly, totaled $442,000 and exceed budget by
$38,000 or 9.4%.
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 June totaled $833,000 and compare to budget
of $564,000. Building permits issued through June total 244 and compare to 302 during the
same period last year. Major projects contributing to building permit revenues this quarter
include building permits for projects at Boeing, building permits for the Green River Community
College Trades Building, as well as numerous housing developments – most notably Lakeland
Villas, Edgeview and Auburn 40 PUD.
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1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
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Cable TV Franchise Fee
2014 budget
2014 actual to date
2013 actual
9
Quarterly Financial Report Through Q2 - 2014
Note: The spike seen in February 2013 (above) includes revenues for the Auburn High School Reconstruction
and Modernization project.
Business License revenues collected through June totaled $94,000, and compare to budget of
$97,000. The graphic on the following page 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.
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Building Permits
2014 budget
2014 actual to date
2013 actual
10
Quarterly Financial Report Through Q2 - 2014
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 $2.4 million and are in line with budget expectations.
State shared revenue includes $988,422 in Streamlined Sales Tax Mitigation payments.
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Business Licenses
2014 budget
2014 actual to date
2013 actual
2013 2014 2014
Revenue Actual Budget Actual Amount Amount
Federal Grants 20,412 41,800 44,199 23,786 116.5 %2,399 5.7 %
State Grants 77,756 122,200 25,319 (52,438)(67.4)%(96,881)(79.3)%
Interlocal Grants 0 100 0 0 0.0 %(100)(100.0)%
State Shared Revenue 1,942,723 1,899,600 1,998,453 55,730 2.9 %98,853 5.2 %
Muckleshoot Casino Emerg.310,028 318,300 286,050 (23,978)(7.7)%(32,250)(10.1)%
Intergovernmental Service 23,120 4,736 23,351 231 1.0 %18,615 393.0 %
YTD Total 2,374,040 2,386,736 2,377,371 3,331 0.1 %(9,365)(0.4)%
June-2014
Intergovernmental
2014 vs. 2013 Actual 2014 vs. Budget
% Change % Change
11
Quarterly Financial Report Through Q2 - 2014
Charges for Services consists of general governmental services, public safety, development service
fees and cultural & recreation fees. Overall, charges for services exceed budget by $668,000 and
prior year collections by $862,000.
General Governmental revenues through Q2-2014 exceed year to date budget by $12,000 –
primarily due to timing of payments from local jurisdictions that contract services through the
City of Auburn.
Public Safety revenues collected year to date total $287,800 and compare to budget of $10,300.
Due to an accounting change, this revenue significantly exceeds budget. The budget for this
category will be adjusted via the July 2014 Budget Amendment, which will be reflected on the
Q3-2014 Financial Report. Public Safety revenues primarily consist of revenues generated for
Police Officer extra duty overtime, where officers are contracted for services and reimbursement
is made by the hiring contractor. Effective this quarter, the expenditures for Police Officer extra
duty overtime are no longer netted against the revenues for this service.
Development service fee collections, which primarily consist of plan check fees, exceed budget by
$285,000 year to date. Total plan check fees collected in the second quarter of 2014 totaled
$305,000 and compare to $263,000 collected in Q2 of the previous year. This quarters plan
check revenues include fees related to several commercial and housing projects including a 247K
square foot commercial building, various projects at Boeing, as well as a large addition to a local
Senior Assisted Living Facility. Plan check revenues also include plans for several housing
developments – most notably the Edgeview and Kendall Ridge housing developments.
Culture and recreation revenues exceed budget by $88,000 or 8.6%, reflecting increased activity
from recreational classes and City special events. A significant factor in the year over year
increase seen in Culture and Recreation revenues is due to a change in accounting, where Golf
Course revenues and expenditures are now reported within the General Fund. After taking this
change into account, the change in Culture and Recreation revenues compared to the same
period the prior year is an increase of $63,000 year to date.
2013 2014 2014
Revenue Actual Budget Actual Amount Amount
General Government 51,839 47,500 64,122 12,283 23.7 %16,622 35.0 %
Public Safety 13,615 10,300 287,781 274,166 2,013.7 %277,481 2,694.0 %
Development Services 678,789 353,100 638,333 (40,457)(6.0)%285,233 80.8 %
Culture & Recreation 494,260 1,022,400 1,110,564 616,305 124.7 %88,164 8.6 %
YTD Total 1,238,503 1,433,300 2,100,800 862,297 69.6 %667,500 46.6 %
June-2014
Charges for Services by Type
2014 vs. 2013 Actual 2014 vs. Budget
Percentage Percentage
12
Quarterly Financial Report Through Q2 - 2014
Note: The 2014 budget is considerably higher than 2013 actuals due to the accounting change effective
January 1, 2014 where the Golf Course is now included in the General Fund.
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Development Service Fees
2014 budget
2014 actual to date
2013 actual
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Culture & Recreation
2014 budget
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Quarterly Financial Report Through Q2 - 2014
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 collected to date is
$759,000 and compares to $743,000 collected the same period last year.
2013 2014 2014
Month Actual Budget Actual Amount Amount
Civil Penalties 10,805 8,100 8,469 (2,336)(21.6)%369 4.6 %
Civil Infraction Penalties 231,721 358,700 254,404 22,683 9.8 %(104,296)(29.1)%
Redflex Photo Enforcement 307,423 252,800 309,868 2,445 0.8 %57,068 22.6 %
Parking Infractions 67,399 95,700 61,504 (5,896)(8.7)%(34,196)(35.7)%
Criminal Traffic Misdemeanor 28,380 43,200 27,942 (438)(1.5)%(15,258)(35.3)%
Criminal Non-Traffic Fines 31,223 49,700 22,893 (8,330)(26.7)%(26,807)(53.9)%
Criminal Costs 12,795 6,000 27,585 14,790 115.6 %21,585 359.8 %
Non-Court Fines & Penalties 53,015 16,100 46,141 (6,874)(13.0)%30,041 186.6 %
YE Total 742,761 830,300 758,806 16,045 2.2 %(71,494)(8.6)%
June-2014
Fines & Forfeits by Type
2014 vs. 2013 Actual 2014 vs. Budget
Percentage Percentage
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2014 budget
2014 actual to date
2013 actual
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Quarterly Financial Report Through Q2 - 2014
Miscellaneous revenues primarily consist of income from facility rentals; other sources
within this category include investment earnings, contributions & donations and other
miscellaneous income. Revenues in this category totaled $485,000, and compare to
budget of $377,000. In comparing 2013 year to date actuals to 2014 year to date
actuals, it is important to note that effective January 1, 2014 Golf Cart Rental revenues
are now included in the General Fund and are collected in the Rents and Leases revenue
category below.
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Redflex Photo Enforcement
2014 budget
2014 actual to date
2013 actual
2013 2014 2014
Month Actual Budget Actual Amount Amount
Interest & Investments 23,920 21,700 18,714 (5,206)(21.8)%(2,986)(13.8)%
Rents & Leases 184,868 295,400 371,808 186,940 101.1 %76,408 25.9 %
Contributions & Donations 27,509 14,600 25,789 (1,719)(6.3)%11,189 76.6 %
Other Miscellaneous Revenue 33,177 45,300 68,888 35,711 107.6 %23,588 52.1 %
YTD Total 269,474 377,000 485,200 215,726 80.1 %108,200 28.7 %
Miscellaneous Revenues by Type
June-2014
2014 vs. 2013 2014 vs. Budget
Percentage Percentage
15
Quarterly Financial Report Through Q2 - 2014
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. Total revenue collected through June was $1.1
million and exceeds budget and prior year actuals by $610,000 and $287,000 respectively,
reflecting local and regional improvement in the real estate market.
2013 2014 2014
Month Actual Budget Actual Amount Amount
Jan 113,615 61,300 119,765 6,150 5.4 %58,465 95.4 %
Feb 107,485 92,200 208,206 100,721 93.7 %116,006 125.8 %
Mar 143,198 98,000 118,578 (24,620)(17.2)%20,578 21.0 %
Apr 124,445 69,100 189,771 65,325 52.5 %120,671 174.6 %
May 162,750 89,400 243,472 80,721 49.6 %154,072 172.3 %
Jun 177,380 95,800 236,067 58,688 33.1 %140,267 146.4 %
Jul 267,976 147,100 (267,976)(100.0)%(147,100)(100.0)%
Aug 200,627 112,200 (200,627)(100.0)%(112,200)(100.0)%
Sep 183,507 103,600 (183,507)(100.0)%(103,600)(100.0)%
Oct 261,388 260,600 (261,388)(100.0)%(260,600)(100.0)%
Nov 287,776 138,600 (287,776)(100.0)%(138,600)(100.0)%
Dec 202,388 132,100 (202,388)(100.0)%(132,100)(100.0)%
YTD Total 828,873 505,800 1,115,859 286,986 34.6 %610,059 120.6 %
Percentage
2014 vs. 2013 2014 vs. Budget
Percentage
Real Estate Excise Tax Revenues
June-2014
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
$2.2
$2.4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
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s
Real Estate Excise Tax
2014 budget
2014 actual to date
2013 actual
16
Quarterly Financial Report Through Q2 - 2014
Pet Licensing
Year-to-date, 3,063 pet licenses have been sold resulting in $76,930 in revenue. For the same
period in 2013, 2,619 licenses were sold resulting in $77,295 in revenue.
2014 Budget Goal: $240,000 or more
Year-to-Date Revenue 2014 (through June) = $76,930
Year-to-Date Licenses 2014 (through June) = 3,063
Year-to-Date Licenses 2013 (through June) = 2,619
0
100
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300
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500
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900
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Month
Pet Licenses Issued By Month
2014 vs 2013
2014 Licenses Issued
2013 Licenses Issued
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
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Month
Pet Licensing Revenue By Month
2014
2014 License Revenue
17
Quarterly Financial Report Through Q2 - 2014
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.
At the end of the second quarter, the Water Utility’s net operating income increased from
$134,700 in 2013 to $273,800 in 2014.
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
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Month
Cumulative Pet Licensing Revenue & Licenses Issued
2014 vs 2013
2014 License Revenue (L)
2014 License Revenue (L)(Budget Goal: $240,000)
2014 Licenses Issued (R)
2013 Licenses Issued (R)
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Th
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Water Revenues vs Water Sold
2014 vs 2013
2013 Water Sales ($)
2014 Water Sales ($)
2013 Water Sold (ccf)
2014 Water Sold (ccf)
18
Quarterly Financial Report Through Q2 - 2014
The Sewer Utility ended the quarter with operating income of $81,000 compared to an
operating loss of $392,100 for the same period in 2013. The Sewer-Metro Utility ended the
period with operating income of $58,300 compared to an operating loss of $52,900 for the
previous year.
The Stormwater Utility ended the quarter with $1,356,400 in net operating income which
compared to operating income of $630,300 for the same period last year.
The Cemetery Fund ended the second quarter with an operating loss of $28,000 compared to a
loss of $3,100 for the same period last year. During the second quarter of 2014, the number of
interments at the Cemetery totaled 116 (54 burials, 62 cremations) which compares to 109 (55
burials, 54 cremations) for the same period last year.
$0
$20
$40
$60
$80
$100
$120
$140
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Th
o
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a
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Cemetery Operating Revenues & Expenditures By Month
2014 vs 2013
2014 Bud. Revenue
2014 Act. Revenue
2013 Act. Revenue
2014 Act. Expenses
19
Quarterly Financial Report Through Q2 - 2014
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 2014. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, 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 this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Th
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Cumulative Cemetery Revenues & Expenditures
2014 vs 2013
2014 Bud. Revenue
2014 Act. Revenue
2013 Act. Revenue
2014 Act. Expenses
20
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 106,443,270$ Various 0.09%
KeyBank Money Market Various 7,603,412 Various 0.00%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FFCB 4/11/2013 3,000,000 4/11/2016 0.43%
FHLB 2/19/2014 2,047,200 11/19/2018 1.98%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 119,387,551$ 0.129%
Investment Mix % of Total
State Investment Pool 89.2%Current 6-month treasury rate 0.06%
KeyBank Money Market 6.4%Current State Pool rate 0.09%
US Treasury 0.0%KeyBank Money Market 0.00%FFCB 2.5%Blended Auburn rate 0.13%
FHLMC 1.7%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
June 30, 2014
Summary
21
SALES TAX SUMMARY
JUNE 2014 SALES TAX DISTRIBUTIONS (FOR APRIL 2014 RETAIL ACTIVITY)
2013 Annual Total 2013 YTD 2014 YTD YTD 2013 Annual Total 2013 YTD 2014 YTD YTD
NAICS CONSTRUCTION (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff NAICS AUTOMOTIVE (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff
236 Construction of Buildings 949,102 367,520 427,371 16.3%441 Motor Vehicle and Parts Dealer 2,899,545 1,363,804 1,422,563 d 4.3%
237 Heavy and Civil Construction 166,874 42,910 77,101 79.7%447 Gasoline Stations 236,015 116,521 124,420 6.8%
238 Specialty Trade Contractors 826,744 378,778 354,375 -6.4%TOTAL AUTOMOTIVE 3,135,559 1,480,325 1,546,982 4.5%
TOTAL CONSTRUCTION 1,942,720 789,208 858,847 8.8%Overall Change from Previous Year 66,657
Overall Change from Previous Year 69,639
2013 Annual Total 2013 YTD 2014 YTD YTD
2013 Annual Total 2013 YTD 2014 YTD YTD NAICS RETAIL TRADE (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff
NAICS MANUFACTURING (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff 442 Furniture and Home Furnishings 235,036 114,518 122,466 6.9%
311 Food Manufacturing 1,836 804 1,890 134.9%443 Electronics and Appliances 173,552 86,277 151,747 75.9%
312 Beverage and Tobacco Products 7,670 3,959 4,216 6.5%444 Building Material and Garden 446,976 203,190 218,815 7.7%
313 Textile Mills 272 140 163 16.4%445 Food and Beverage Stores 335,409 155,990 165,897 6.4%
314 Textile Product Mills 3,435 1,420 1,411 -0.6%446 Health and Personal Care Store 173,874 92,570 95,263 2.9%
315 Apparel Manufacturing 280 206 185 -10.0%448 Clothing and Accessories 889,410 443,425 504,835 13.8%
316 Leather and Allied Products 11 5 4 -24.9%451 Sporting Goods, Hobby, Books 125,040 64,628 118,600 83.5%
321 Wood Product Manufacturing 72,780 40,325 38,502 -4.5%452 General Merchandise Stores 974,130 497,474 476,544 c -4.2%
322 Paper Manufacturing 3,442 1,581 2,478 56.7%453 Miscellaneous Store Retailers 548,688 267,093 282,461 5.8%
323 Printing and Related Support 26,277 12,086 17,200 42.3%454 Nonstore Retailers 316,455 160,031 179,055 11.9%
324 Petroleum and Coal Products 9,762 5,202 5,136 -1.3%TOTAL RETAIL TRADE 4,218,570 2,085,198 2,315,684 11.1%
325 Chemical Manufacturing 8,995 4,018 2,614 -34.9%Overall Change from Previous Year 230,486
326 Plastics and Rubber Products 9,566 4,210 5,335 26.7%
327 Nonmetallic Mineral Products 20,455 8,587 9,771 13.8%
331 Primary Metal Manufacturing 717 394 1,339 239.7%2013 Annual Total 2013 YTD 2014 YTD YTD
332 Fabricated Metal Product Manuf 13,135 b 24,295 15,287 -37.1%NAICS SERVICES (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff
333 Machinery Manufacturing 25,232 5,927 11,199 88.9%51*Information 445,827 215,602 247,912 15.0%
334 Computer and Electronic Produc 13,545 5,335 10,873 103.8%52*Finance and Insurance 91,439 48,789 42,233 -13.4%
335 Electric Equipment, Appliances 1,251 261 562 115.1%53*Real Estate, Rental, Leasing 278,919 135,644 153,382 13.1%
336 Transportation Equipment Man 350,172 167,387 415,649 148.3%541 Professional, Scientific, Tech 183,904 84,255 98,685 17.1%
337 Furniture and Related Products 24,852 14,750 11,535 -21.8%551 Company Management 76 64 26 -59.6%
339 Miscellaneous Manufacturing 30,699 13,706 20,876 52.3%56*Admin. Supp., Remed Svcs 336,269 169,501 191,835 13.2%
TOTAL MANUFACTURING 624,385 314,598 576,227 83.2%611 Educational Services 50,183 24,547 21,939 -10.6%
Overall Change from Previous Year 261,629 62*Health Care Social Assistance 32,608 24,460 15,668 -35.9%
71*Arts and Entertainment 148,530 89,121 99,398 11.5%
72*Accomodation and Food Svcs 979,254 464,094 500,085 7.8%2013 Annual Total 2013 YTD 2014 YTD YTD 81*Other Services 394,645 189,610 203,891 7.5%NAICS TRANSPORTATION AND WAREHOUSING (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff 92*Public Administration 112,629 43,638 45,019 3.2%
481 Air Transportation 0 0 0 N/A TOTAL SERVICES 3,054,283 1,489,325 1,620,072 8.8%
482 Rail Transportation 9,552 7,614 2,215 -70.9%Overall Change from Previous Year 130,747
484 Truck Transportation -3,489 a -7,057 a 1,751 -124.8%
485 Transit and Ground Passengers 93 88 0 -100.0%
488 Transportation Support 27,757 11,310 12,818 13.3%2013 Annual Total 2013 YTD 2014 YTD YTD
491 Postal Service 863 439 483 9.8%NAICS MISCELLANEOUS (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff
492 Couriers and Messengers 1,272 724 422 -41.7%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 9,648 5,073 1,961 -61.3%111-115 Agriculture, Forestry, Fishing 4,385 2,099 2,230 6.2%
TOTAL TRANSPORTATION 45,696 18,193 19,651 8.0%211-221 Mining & Utilities 22,645 8,534 9,734 14.1%
Overall Change from Previous Year 1,458 999 Unclassifiable Establishments 36,549 25,564 63,579 148.7%
TOTAL SERVICES 63,580 36,197 75,543 108.7%
Overall Change from Previous Year 39,346
2013 Annual Total 2013 YTD 2014 YTD YTDNAICSWHOLESALE TRADE (Nov '12-Oct '13)(Nov '12 - Apr'13)(Nov '13 - Apr '14)% Diff
423 Wholesale Trade, Durable Goods 1,111,249 541,051 499,126 -7.7%GRAND TOTAL 14,364,200 6,835,269 7,596,196
424 Wholesale Trade, Nondurable 163,774 78,942 82,581 4.6%Overall Change from Previous Year 760,927 11.1%
425 Wholesale Electronic Markets 4,384 2,232 1,483 -33.6%
TOTAL WHOLESALE 1,279,407 622,225 583,189 -6.3%
Overall Change from Previous Year -39,036
a. WA State Dept of Revenue audit adjustment to sales tax returns for period Jan 2013 (adjustment: -$11,382).
b. WA State Dept of Revenue audit adjustment to sales tax returns for period May 2013 (adjustment - $30,493).
c. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2014 (adjustment: -$45,145).
d. WA State Dept of Revenue audit adjustment to sales tax returns for period April 2014 (adjustment: $10,242).
06/24/14 file:Monthly Sales Tax Report.xls
Prepared by Auburn Finance Department 22
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 5,599,999 3,758,345 - 5,052,242 6,618,192 8,180 456,319 - 425,959 - - -
Interfund Charges For Service - - - - - - - - - 1,694,930 2,372,598 1,438,609
Sewer Metro Service Revenue - - 7,505,070 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 314,611 - - - 65,876 56,820 -
TOTAL OPERATING REVENUES 5,599,999 3,758,345 7,505,070 5,052,242 6,618,192 322,791 456,319 - 425,959 1,760,806 2,429,418 1,438,609
OPERATING EXPENSES
Salaries & Wages 1,227,441 793,232 - 1,096,748 207,027 10,935 203,920 - 46,226 264,677 731,793 278,819
Benefits 531,661 336,969 - 472,846 96,944 3,592 95,269 - 36,051 132,374 300,441 123,866
Supplies 121,509 25,981 - 42,176 8,921 112 76,557 - - 80,868 136,191 377,473
Other Service Charges 1,684,519 1,082,291 - 673,782 552,873 215,352 34,348 559,142 112,243 793,513 1,022,664 190,055
Intergovernmental Services - 1,808 - 10,259 103,674 - - - - - - -
Waste Management Payments - - - - 4,191,646 - - - - - - -
Sewer Metro Services - - 7,446,727 - - - - - - - - -
Interfund Operating Rentals & Supplies 551,947 482,816 - 633,311 89,850 - 47,198 - - 59,256 144,198 123,567
Other Expenses - - - - - - - - - - - -
Depreciation & Amortization 1,209,153 954,247 - 766,709 9,410 200,842 27,006 - - - 261,281 371,143
TOTAL OPERATING EXPENSES 5,326,231 3,677,344 7,446,727 3,695,830 5,260,343 430,834 484,299 559,142 194,519 1,330,688 2,596,568 1,464,923
OPERATING INCOME (LOSS)273,768 81,001 58,343 1,356,412 1,357,849 (108,043) (27,980) (559,142) 231,440 430,118 (167,150) (26,314)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 7,732 6,479 414 9,614 669 461 153 517 60 1,008 1,708 2,840
Contributions - - - 12,073 18,238 - 25 - - 1,712 - 799
Other Non-Operating Revenue 116,646 51,189 - 78,676 240 (2,266) 1,654 - - - - 2,014
Gain (Loss) On Sale Of Fixed Assets - - - 584,091 - - - - - - - -
Debt Service Interest (49,516) (17,659) - - - (20,838) (11,134) - - - - -
Other Non-Operating Expense - - - - - - - - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 74,861 40,009 414 684,454 19,147 (22,643) (9,302) 517 60 2,720 1,708 5,653
PLUS ITEMS NOT EFFECTING WORKING CAPITAL
Depreciation 1,209,153 954,247 - 766,709 9,410 200,842 27,006 - - - 261,281 371,143
NET WORKING CAPITAL FROM OPERATIONS 1,557,783 1,075,258 58,757 2,807,575 1,386,406 70,156 (10,276) (558,625) 231,500 432,839 95,838 350,482
Increase In Contributions - System Development 329,091 135,716 - 311,137 - - - - - - - -
Increase In Contributions - Area Assessments - 3,282 - - - - - - - - - -
Increase In Contributions - Other Governments 42,200 162,203 - - - - - - - - - -
Increase In Contributions - Other Funds - - - - - - - - - - - -
Increase In Contributions - FAA - - - - - 44,610 - - - - - -
Proceeds of Debt Activity 67,438 - - - - - - - - - - -
Operating Transfers In - - - - - - - - - - 119,023 -
Increase In Restricted Net Assets 5,661 24,580 - - - (1,564) - - - - - -
Decrease In Long-Term Receivables - 90,000 - - - - - - - - - -
Increase In Deferred Credits - - - - - 18,731 - - - - - -
TOTAL RESOURCES OTHER THAN OPERATIONS 444,390 415,781 - 311,137 - 61,778 - - - - 119,023 -
Net Change In Restricted Net Assets 473,552 302,162 - 793,568 - (1,564) - - - 2,200 - -
Increase In Fixed Assets - Salaries 69,821 55,862 - 122,758 - - - - - - - -
Increase In Fixed Assets - Benefits 26,226 22,307 - 48,424 - - - - - - - -
Increase In Fixed Assets - Site Improvements 16,520 - - - - - - - - - - -
Increase In Fixed Assets - Equipment - - - 51,405 - - - - - - 347,135 270,624
Increase In Fixed Assets - Construction 603,365 496,753 - 856,614 - 153,072 - - - - - -
Operating Transfers Out 67,003 67,003 - 141,003 - - - - - 295,379 - 7,000
Debt Service Principal 519,405 288,262 - - - - - - - - - -
TOTAL USES OTHER THAN OPERATIONS 1,775,892 1,232,350 - 2,013,771 - 151,509 - - - 297,579 347,135 277,624
NET CHANGE IN WORKING CAPITAL 226,281 258,688 58,757 1,104,941 1,386,406 (19,575) (10,276) (558,625) 231,500 135,259 (132,274) 72,858
BEGINNING WORKING CAPITAL - January 1, 2014 14,189,404 12,952,797 1,826,811 15,762,939 1,504,560 801,284 261,934 1,815,731 - 1,976,512 3,406,012 5,920,444
ENDING WORKING CAPITAL - June 30, 2014 14,415,686 13,211,486 1,885,567 16,867,880 2,890,966 781,709 251,658 1,257,106 231,500 2,111,772 3,273,739 5,993,302
NET CHANGE IN WORKING CAPITAL 226,281 258,688 58,757 1,104,941 1,386,406 (19,575) (10,276) (558,625) 231,500 135,259 (132,274) 72,858
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 INSURANCE WORKER'S
COMPENSATION FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT
ENTERPRISE FUNDS
23
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 5,599,999 3,758,345 - 5,052,242 6,618,192 8,180 456,319 - 425,959 - - -
Interfund Charges For Service - - - - - - - - - 1,694,930 2,372,598 1,438,609
Sewer Metro Service Revenue - - 7,505,070 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 314,611 - - - 65,876 56,820 -
TOTAL OPERATING REVENUES 5,599,999 3,758,345 7,505,070 5,052,242 6,618,192 322,791 456,319 - 425,959 1,760,806 2,429,418 1,438,609
OPERATING EXPENSES
Administration 1,535,072 1,094,506 - 1,459,329 364,381 228,217 132,911 559,142 - - - 452,289
Operations & Maintenance 2,582,005 1,628,590 - 1,469,792 694,907 1,775 324,382 - 194,519 1,330,688 2,335,287 641,491
Waste Management Payments - - - - 4,191,646 - - - - - - -
Sewer Metro Services - - 7,446,727 - - - - - - - - -
Depreciation & Amortization 1,209,153 954,247 - 766,709 9,410 200,842 27,006 - - - 261,281 371,143
TOTAL OPERATING EXPENSES 5,326,231 3,677,344 7,446,727 3,695,830 5,260,343 430,834 484,299 559,142 194,519 1,330,688 2,596,568 1,464,923
OPERATING INCOME (LOSS)273,768 81,001 58,343 1,356,412 1,357,849 (108,043) (27,980) (559,142) 231,440 430,118 (167,150) (26,314)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 7,732 6,479 414 9,614 669 461 153 517 60 1,008 1,708 2,840
Other Non-Operating Revenue 116,646 51,189 - 90,749 18,478 (2,266) 1,679 - - 1,712 - 2,813
Gain (Loss) On Sale Of Fixed Assets - - - 584,091 - - - - - - - -
Other Non-Operating Expense (49,516) (17,659) - - - (20,838) (11,134) - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 74,861 40,009 414 684,454 19,147 (22,643) (9,302) 517 60 2,720 1,708 5,653
348,630 121,010 58,757 2,040,866 1,376,996 (130,685) (37,282) (558,625) 231,500 432,839 (165,442) (20,661)
Contributions 371,291 301,201 - 311,137 - 44,610 - - - - - -
Transfers In - - - - - - - - - - 119,023 -
Transfers Out (67,003) (67,003) - (141,003) - - - - - (295,379) - (7,000)
TOTAL CONTRIBUTIONS & TRANSFERS 304,288 234,197 - 170,133 - 44,610 - - - (295,379) 119,023 (7,000)
CHANGE IN FUND BALANCE 652,917 355,208 58,757 2,211,000 1,376,996 (86,075) (37,282) (558,625) 231,500 137,459 (46,419) (27,661)
BEGINNING FUND BALANCE - January 1, 2014 68,655,974 75,821,385 1,826,811 51,686,935 1,598,247 9,318,866 888,882 1,815,731 - 1,938,141 4,604,445 10,714,407
ENDING FUND BALANCE - June 30, 2014 69,308,891 76,176,593 1,885,568 53,897,935 2,975,243 9,232,791 851,600 1,257,106 231,500 2,075,600 4,558,026 10,686,746
INTERNAL SERVICE FUNDSFUND BALANCE
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2014 revenues and expenditures by fund.
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIESWATERSEWERSEWER METRO STORM SOLID WASTE AIRPORT
ENTERPRISE FUNDS
24