HomeMy WebLinkAboutQ2 2015 Financial Report.pdf
AGENDA BILL APPROVAL FORM
Agenda Subject: 2nd Quarter 2015 Financial Report Date: August 11, 2015
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 details can be
found within the attached financial report.
The second quarter status report is based on financial data available as of July 30, 2015 for the period
ending June 30, 2015. Sales tax information represents business activity that occurred through April
2015.
General Fund:
The General Fund is the City’s largest fund and accounts for the majority of City resources and services,
other than those required by statute to be accounted for in another fund.
Through June 2015, General Fund revenues totaled $30.9 million and exceed the year-to-date budget of
$29.8 million due primarily to increased revenues from sales tax collections, development services fees,
and revenues from culture and recreation activities. Retail sales tax collections through the second
quarter of 2015 exceed budget by $467,000 or 7.1%, and exceed revenues collected for the same period
last year by $360,000. Development services fees collected through the first half of 2015 exceed budget
expectations by $314,000, or 78.3%, due primarily to an increase in plan check revenues, which have
already exceeded budget for the year. In addition, culture and recreation revenues exceed budget by
$204,000, or 19.7%, primarily due to higher than anticipated revenues for greens fees at the Auburn Golf
Course as well as an increase in revenues for league fees. These favorable increases are slightly offset
by lower than budgeted collections for electric and natural gas taxes ($345,000, or 13.0%) due primarily
to a mild winter that reduced customer heating demands. This also resulted in a year-over-year decline in
electric and natural gas collections from the same period last year.
General Fund expenditures through the first half of 2015 totaled $28.4 million compared to a budget of
$30.4 million. Year-to-date General Fund expenditures are running 7.3% or $1.9 million higher than the
same period last year. The increase in year-over-year expenditures is due to several factors, including a
$1.3 million transfer to Cumulative Reserve to replenish prior withdrawals, and an increase in interfund
charges (particularly in Innovation and Technology due to increased operating and equipment
replacement costs, and in Equipment Rental due to the addition of the Golf Course to the General Fund
and increased operating, capital construction and replacement costs). In addition, salary and benefit
costs have increased year-to-date by $565,000, or 3.7% due to lower departmental vacancies compared
to the year prior as well as increased costs associated with health care and pensions.
Year-to-date, 2,563 pet licenses have been sold resulting in $73,605 in revenue. For the same period in
2014, 3,063 licenses were sold resulting in $76,930 in revenue.
1
Agenda Subject: 2nd Quarter 2015 Financial Report Date: 08/11/2015
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 had operating income of $110,400 compared to
operating income of $273,800 in 2014. The Sewer fund ended the quarter with a net loss of $17,000
compared to income of $81,000 in 2014. The Sewer-Metro Utility ended the period with an operating loss
of $174,000 compared to operating income of $1,303,100 in the previous year. Lastly, the Stormwater
Utility ended the quarter with operating income of $692,300 which compares to operating income of
$759,200 in 2014.
The Cemetery ended the second quarter with net operating income of $68,200 compared to an operating
loss of $28,000 in 2014.
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 of Q2-2015 was $121.9, and compares to $118.3 million
at the end of Q1-2015.
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 24, 2015 Item Number:
2
Quarterly Financial Report Through Q2-2015
General Fund Summary
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Year-To-Date General Fund Revenues and Expenditures
(Through Q2-2015)
$29.8 $30.4$30.9 $28.4
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Year-To-Date General Fund Expenditures by Department
(Through Q2-2015)
3
Quarterly Financial Report Through Q2-2015
General Fund 2014
Summary of Sources and Uses Annual
Budget YTD Budget YTD Actual YTD Actual Amount
Operating Revenues
Property Tax 17,182,600$ 9,040,600$ 9,082,406$ 8,345,532$ 41,806$ 0.5 %
Sales Tax 13,662,000 6,613,100 7,080,481 6,720,176 467,381 7.1 %
Sales Tax - Annexation Credit 1,856,000 887,200 953,126 886,979 65,926 7.4 %
Criminal Justice Sales Tax 1,589,000 760,000 861,400 791,944 101,400 13.3 %
Brokered Natural Gas Tax 282,000 178,700 159,349 174,971 (19,351)(10.8)%
City Utilities Tax 3,452,300 1,695,000 1,719,324 1,683,352 24,324 1.4 %
Admissions Tax 330,300 135,300 135,674 133,624 374 0.3 %
Electric Tax 3,435,600 1,873,800 1,648,480 1,901,539 (225,320)(12.0)%
Natural Gas Tax 1,152,000 778,900 659,020 786,907 (119,880)(15.4)%
Cable TV Franchise Fee 888,900 442,900 455,052 441,481 12,152 2.7 %
Cable TV Franchise Fee - Capital 63,000 36,100 36,324 31,598 224 0.6 %
Telephone Tax 1,811,000 901,400 871,239 916,112 (30,161)(3.3)%
Garbage Tax (external)106,000 52,980 54,854 52,926 1,874 3.5 %
Leasehold Excise Tax 33,000 16,700 35,020 17,649 18,320 109.7 %
Local Gambling Tax 232,400 114,200 82,550 137,999 (31,650)(27.7)%
Taxes sub-total 46,076,100$ 23,526,880$ 23,834,301$ 23,022,789$ 307,421$ 1.3 %
Business License Fees 219,000$ 106,000$ 137,902$ 94,037$ 31,902$ 30.1 %
Building Permits 1,100,000 652,400 645,220 833,282 (7,180)(1.1)%
Other Licenses & Permits 532,300 251,100 269,145 327,199 18,045 7.2 %
Intergovernmental (Grants, etc.)5,466,451 2,571,785 2,602,995 2,377,371 31,210 1.2 %
Charges for Services:
General Government Services 96,500 50,900 43,704 64,122 (7,196)(14.1)%
Public Safety 515,100 297,432 287,517 287,781 (9,915)(3.3)%
Development Services Fees 680,000 401,000 715,082 638,333 314,082 78.3 %
Culture and Recreation 2,058,080 1,032,600 1,236,235 1,110,564 203,635 19.7 %
Fines and Forfeits 788,040 414,700 485,978 758,806 71,278 17.2 %
Fees/Charges/Fines sub-total 11,455,471$ 5,777,917$ 6,423,778$ 6,491,494$ 645,861$ 11.2 %
Interest and Other Earnings 36,850$ 17,900$ 23,497$ 18,714$ 5,597$ 31.3 %
Rents, Leases and Concessions 573,200 308,500 301,118 371,808 (7,382)(2.4)%
Contributions and Donations 32,000 16,200 20,852 25,789 4,652 28.7 %
Other Miscellaneous 107,400 46,700 102,512 68,888 55,812 119.5 %
Transfers In 539,380 76,000 76,000 121,097 0 0.0 %
Insurance Recoveries - Capital & Operating 25,000 12,600 110,458 40,229 97,858 776.7 %
Other Revenues sub-total 1,313,830$ 477,900$ 634,438$ 646,526$ 156,538$ 32.8 %
Total Operating Revenues 58,845,401$ 29,782,697$ 30,892,517$ 30,160,808$ 1,109,820$ 3.7 %
Operating Expenditures
Council & Mayor 915,017$ 460,000$ 446,739$ 381,106$ 13,261$ 2.9 %
Administration 1,299,136 649,800 434,188 327,627 215,612 33.2 %
Community & Human Services 1,348,323 692,900 423,553 443,788 269,347 38.9 %
Municipal Court & Probation 1,935,710 405,600 272,076 85,577 133,524 32.9 %
Human Resources 1,137,785 553,600 510,844 642,027 42,756 7.7 %
Finance 1,329,284 677,900 623,422 567,757 54,478 8.0 %
City Attorney 2,202,159 1,116,500 912,293 827,842 204,207 18.3 %
Community Development 4,606,675 2,272,000 1,919,180 1,880,297 352,820 15.5 %
Jail - SCORE 3,670,000 1,835,000 1,829,432 2,464,589 5,568 0.3 %
Police 22,887,782 11,129,300 10,811,956 9,965,305 317,344 2.9 %
Public Works 2,641,027 1,270,400 1,326,774 1,279,946 (56,374)(4.4)%
Parks, Arts & Recreation 11,067,413 5,460,900 5,351,703 4,761,923 109,197 2.0 %
Streets 3,365,676 1,506,500 1,289,104 1,469,914 217,396 14.4 %
Non-Departmental 4,660,748 2,408,328 2,298,317 1,411,850 110,011 4.6 %
Total Operating Expenditures 63,066,735$ 30,438,728$ 28,449,580$ 26,509,549$ 1,989,147$ 6.5 %
2015 2015 YTD Budget vs. Actual
Favorable (Unfavorable)
Percentage
4
Quarterly Financial Report Through Q2-2015
Overview
This financial overview reflects the City’s overall financial position for the fiscal period ending
June 30, 2015 and represents financial data available as of July 30, 2015. The budgeted revenues
and operating expenditures are primarily based on the collection/disbursement average for the
same period of the two prior years.
Through the first half of 2015, General Fund revenues totaled $30.9 million compared to a
budget of $29.8 million and were $732,000 higher than the revenues collected during the same
period the year prior. Some notable variances to budget year-to-date include:
General Fund sales tax revenues totaled $7.1 million and exceeded budget by 7.1% or
$467,000, and exceed prior year collections by $360,000. The areas of significant
increase in sales activity are primarily in the automotive, retail trade, and construction
categories.
Development services fees totaled $715,000 and exceeded budget by $314,000. The
increased revenues were attributable to plan check revenues which total $576,000
through Q2-2015 and compare to a year-to-date budget of $324,000.
Culture and recreation revenues exceeded the year-to-date budget by $204,000 and
exceed collections for the same period last year by $126,000. The year-over-year
increase is primarily due to $91,000 in increased revenues collected at the Auburn
Golf Course for greens fees this year compared to the same period last year
(representing a 19.5% increase).
Electric tax revenues and natural gas tax revenues year-to-date are running under
budget by $225,000 and $120,000 respectively due primarily to a mild winter, which
reduced the customer demand for heating.
General Fund expenditures through the first half of 2015 totaled $28.4 million compared to a
budget of $30.4 million. Year-to-date General Fund expenditures are running 7.3% or $1.9
million higher than the same period last year. The increase in year-over-year expenditures are
due to several factors including a $1.3 million transfer to Cumulative Reserve to replenish prior
withdrawals, and an increase in interfund costs (particularly in Innovation and Technology, due
to increased operating and equipment replacement costs, and in Equipment Rental due to the
addition of the Golf Course to the General Fund and increased operating, capital construction
and replacement costs). In addition, salary and benefit costs have increased year-to-date by
$565,000, or 3.7% due to lower departmental vacancies compared to the year prior as well as
increase costs associated with health care and pensions. Lastly, the cost of providing 911 services
in 2015 has increased 30% over the year prior.
5
Quarterly Financial Report Through Q2-2015
Revenues
The combined total of property tax, sales/use tax, utility tax, gambling, and admissions tax
provides approximately 80% of all resources supporting general governmental activities. The
following section provides additional information on these sources.
Property Tax collections through Q2-2015 totaled $9.1 million and is on target to end the year at
budget. The property tax revenue collection through June 2015 compares to $8.3 million
collected the same period the year prior, which represents an 8.8% increase year-over-year.
$29.8 M
$30.4 M
$30.9 M
$28.4 M
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0
Revenues
Expenditures
$ Millions
General Fund
2015 Revenues vs. Expenditures
2015 YTD Actual
2015 YTD Budget
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2015 YTD Budget
2015 YTD Actual
2014 Actual
6
Quarterly Financial Report Through Q2-2015
Sales tax distributions Citywide totaled $8.1 million of which $7.1 million was distributed to the
General Fund and $997,000 was distributed to the Local Street Fund (SOS) program.* Through
June 2015, total Sales Tax revenue collected in the General Fund exceeded budget expectations
by $467,000, or 7.1%.
* Beginning in 2013, Local Street Fund (Fund 103) street repairs have been funded from sales taxes on
construction. The total amount transferred year-to-date through Q2-2015 was $996,884. The graphic above
presents sales taxes under the current policy.
The following table breaks out the City’s base sales tax, excluding Criminal Justice, Annexation
Credit and Streamlined Sales Tax Mitigation, by major business sector.
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Sales & Use Tax
(Net of Revenue from Construction)
2015 YTD Budget
2015 YTD Actual
2014 Actual
2014 2015
Component Group Actual Actual Amount
Construction 858,847$ 996,884$ 138,037$ 16.1 %
Manufacturing 576,227 436,192 (140,034)(24.3)%
Transportation & Warehousing 19,651 28,097 8,446 43.0 %
Wholesale Trade 583,189 609,203 26,014 4.5 %
Automotive 1,546,982 1,778,094 231,112 14.9 %
Retail Trade 2,315,684 2,483,952 168,268 7.3 %
Services 1,620,072 1,728,219 108,146 6.7 %
Miscellaneous 75,543 30,968 (44,575)(59.0)%
YTD Total 7,596,196$ 8,091,609$ 495,413$ 6.5 %
Change from 2014
June-2015
Comparison of Sales Tax Collections by SIC Group
Percentage
7
Quarterly Financial Report Through Q2-2015
Total sales tax revenue collected through Q2-2015 exceeded prior year collections by $360,000
or 5.4%. The business sectors showing the largest increase in revenues compared to the same
period last year were in the automotive industry, retail trade and construction.
Total sales tax revenue on construction, which is transferred to the Local Street Fund (Fund 103)
for local street repair and maintenance, totaled $997,000 and exceeded both budget and prior
year collections by $283,000 and $138,000 respectively.
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Sales Tax on Construction Transfer
2015 YTD Budget
2015 YTD Actual
2014 Actual
8
Quarterly Financial Report Through Q2-2015
Utility Taxes consist of interfund taxes on City utilities (Water, Sewer, Storm and Solid Waste)
and taxes on external utilities (Electric, Natural Gas, Telephone and Solid Waste). Utility taxes
collected through the second quarter of 2015 totaled $5.0 million, compared to a budget of $5.3
million.
As shown in the table below, overall utility tax revenues collected year-to-date were $5.0
million, resulting in underperformance relative to budget of $349,000, or 6.6%. A mild winter
has reduced customer heating demands and resulted in year-over-year declines in electric and
natural gas revenue sales and therefore tax collections.
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Utility Tax
2015 YTD Budget
2015 YTD Actual
2014 Actual
2014 2015 2015
Utility Tax Type Actual Budget Actual Amount Amount
City Interfund Utility Taxes 1,683,352$ 1,695,000$ 1,719,324$ $ 35,973 2.1 % $ 24,324 1.4 %
Electric 1,901,539 1,873,800 1,648,480 (253,060)(13.3)%(225,320)(12.0)%
Natural Gas 786,907 778,900 659,020 (127,887)(16.3)%(119,880)(15.4)%
Telephone 916,112 901,400 871,239 (44,873)(4.9)%(30,161)(3.3)%
Solid Waste (external)52,926 52,980 54,854 1,928 3.6 %1,874 3.5 %
YTD Total 5,340,837$ 5,302,080$ 4,952,918$ $ (387,919)(7.3)% $ (349,162)(6.6)%
June-2015
Utility Tax by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
9
Quarterly Financial Report Through Q2-2015
Cable TV Franchise Fees, which are collected quarterly, totaled $455,000 and exceeded budget
by $12,000 or 2.7%.
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Cable TV Franchise Fee
2015 YTD Budget
2015 YTD Actual
2014 Actual
10
Quarterly Financial Report Through Q2-2015
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 $645,000 compared to a year-to-
date budget of $652,000. Building permits issued through June total 385 and compare to 453
issued during the same period in 2014. Major projects contributing to revenues this quarter
include building permits for the Merrill Gardens Senior Living development and Lakeland Hills
Storage, as well as numerous housing developments – most notably Edgeview and Sonata Hill.
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Building Permits
2015 YTD Budget
2015 YTD Actual
2014 Actual
11
Quarterly Financial Report Through Q2-2015
Business license revenues collected through June totaled $138,000 compared to $94,000
collected the same period in 2014; the difference is due to the timing of collections. 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.
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12
Quarterly Financial Report Through Q2-2015
Intergovernmental revenues include Grants (Direct & Indirect Federal, State and Local), compact
revenue from the Muckleshoot Indian Tribe (MIT), intergovernmental and state shared revenues.
Collections to date totaled $2.6 million and were $31,000, or 1.2%, higher than budget.
2014 2015 2015
Revenue Actual Budget Actual Amount Amount
Federal Grants 44,199$ 103,700$ 67,622$ $ 23,423 53.0 % $(36,078)(34.8)%
State Grants 25,319 116,300 118,572 93,253 368.3 %2,272 2.0 %
Muckleshoot Casino Emerg.286,050 315,000 296,987 10,937 3.8 %(18,013)(5.7)%
Intergovernmental Service 23,351 0 8,556 (14,796)(63.4)%8,556 N/A
State Shared Revenues:
Streamlined Sales Tax 988,422 1,007,500 980,842 (7,580)(0.8)%(26,658)(2.6)%
Motor Vehicle Fuel Tax 485,842 449,200 495,526 9,684 2.0 %46,326 10.3 %
Criminal Justice - High Crime 0 96,000 96,509 96,509 N/A 509 0.5 %
Criminal Justice - Population 9,148 8,600 9,742 594 6.5 %1,142 13.3 %
Criminal Justice - Special Prog.34,196 32,800 35,793 1,597 4.7 %2,993 9.1 %
State DUI 6,665 6,700 6,560 (105)(1.6)%(140)(2.1)%
Fire Insurance Tax 77,558 70,000 75,702 (1,855)(2.4)%5,702 8.1 %
Liquor Excise 70,980 50,815 83,566 12,586 17.7 %32,751 64.5 %
Liquor Profit 325,643 315,170 327,019 1,375 0.4 %11,849 3.8 %
Total State Shared:1,998,453 2,036,785 2,111,259 112,806 5.6 %74,474 3.7 %
YTD Total 2,377,371$ 2,571,785$ 2,602,995$ 225,624$ 9.5 %31,210$ 1.2 %
June-2015
Intergovernmental
2015 vs. 2014 Actual 2015 vs. Budget
% Change % Change
13
Quarterly Financial Report Through Q2-2015
Charges for Services consist of general governmental services, public safety, development service
fees and cultural & recreation fees. Overall, charges for services collected through the first half of
2015 totaled $2.3 million as compared to a year-to-date budget of $1.8 million. Total revenues
collected exceeded budget by $501,000, or 28.1%.
General governmental revenues through Q2-2015 total $44,000 compared to a budget of
$51,000.
Public safety revenues collected year-to-date totaled $288,000 and compare to a budget of
$297,000. Public safety revenues 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 June 2014, public safety revenue also includes reimbursement from the
Muckleshoot Indian Tribe (MIT) for a full-time dedicated Police Officer and associated
expenditures.
Development services fee collections, which primarily consist of plan check fees, totaled
$715,000 and exceeded budget by $314,000. Total plan check fees collected in Q2-2015 totaled
$269,000 and include revenues related to several commercial and residential projects including a
5 building Mini Storage in the Lea Hill area, the Merrill Gardens Senior Living development, as
well as plans for the Sonata Hill and Edgeview housing developments.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
n
s
Development Service Fees
2015 YTD Budget
2015 YTD Actual
2014 Actual
14
Quarterly Financial Report Through Q2-2015
Culture and recreation revenues totaled $1.2 million and compare to a budget of $1.0 million
and prior year collections of $1.1 million. The year-over-year increase in revenues was primarily
due to increased collections at the Auburn Golf Course for greens fees, as well as increased
revenues collected for league fees.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
$2.2
$2.4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
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s
Culture & Recreation
2015 YTD Budget
2015 YTD Actual
2014 Actual
2014 2015 2015
Revenue Actual Budget Actual Amount Amount
General Government 64,122$ 50,900$ 43,704$ $ (20,419)(31.8)% $ (7,196)(14.1)%
Public Safety 287,781 297,432 287,517 (264)(0.1)%(9,915)(3.3)%
Development Services 638,333 401,000 715,082 76,750 12.0 %314,082 78.3 %
Culture & Recreation 1,110,564 1,032,600 1,236,235 125,671 11.3 %203,635 19.7 %
YTD Total 2,100,800$ 1,781,932$ 2,282,538$ 181,738$ 8.7 % $ 500,606 28.1 %
June-2015
Charges for Services by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
15
Quarterly Financial Report Through Q2-2015
Fines & Penalties include traffic and parking infraction penalties, criminal fines (including criminal
traffic, criminal non traffic and criminal costs) as well as non-court fines such as false alarm fines.
Total revenue collected through Q2-2015 totaled $486,000, compared to a budget of $415,000
and prior year collections of $759,000. Effective June 2014, the Redflex Photo Enforcement
Program was cancelled, which is the contributing factor for the year-over-year decline in fines
and forfeits revenue.
2014 2015 2015
Month Actual Budget Actual Amount Amount
Civil Penalties 8,469$ 8,200$ 6,069$ $ (2,400)(28.3)% $ (2,131)(26.0)%
Civil Infraction Penalties 254,404 235,400 273,741 19,337 7.6 %38,341 16.3 %
Redflex Photo Enforcement 309,868 0 1,766 (308,102)(99.4)%1,766 N/A %
Parking Infractions 61,504 56,000 67,867 6,363 10.3 %11,867 21.2 %
Criminal Traffic Misdemeanor 27,942 26,900 29,317 1,374 4.9 %2,417 9.0 %
Criminal Non-Traffic Fines 22,893 24,500 25,129 2,237 9.8 %629 2.6 %
Criminal Costs 27,585 21,300 30,829 3,244 11.8 %9,529 44.7 %
Non-Court Fines & Penalties 46,141 42,400 51,259 5,117 11.1 %8,859 20.9 %
YTD Total 758,806$ 414,700$ 485,978$ $ (272,828)(36.0)% $ 71,278 17.2 %
June-2015
Fines & Forfeits by Type
2015 vs. 2014 Actual 2015 vs. Budget
Percentage Percentage
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
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s
Fines & Penalties
2015 YTD Budget
2015 YTD Actual
2014 Actual
16
Quarterly Financial Report Through Q2-2015
Miscellaneous revenues primarily consist of income from facility rentals; other sources within this
category include investment earnings, contributions & donations and other miscellaneous income
including the quarterly purchasing card (P-card) rebate monies. Total revenues collected in this
category through Q2-2015 totaled $448,000 and exceeded budget expectation of $389,000.
Although rents and leases revenue ended the quarter slightly below budget expectations, this was
offset by higher than anticipated P-Card rebate monies collected through Q2.
2014 2015 2015
Month Actual Budget Actual Amount Amount
Interest & Investments 18,714$ 17,900$ 23,497$ 4,783$ 25.6 %5,597$ 31.3 %
Rents & Leases 371,808 308,500 301,118 (70,690)(19.0)%(7,382)(2.4)%
Contributions & Donations 25,789 16,200 20,852 (4,937)(19.1)%4,652 28.7 %
Other Miscellaneous Revenue 68,888 46,700 102,512 33,624 48.8 %55,812 119.5 %
YTD Total 485,200$ 389,300$ 447,979$ (37,220)$ (7.7)%58,679$ 15.1 %
Miscellaneous Revenues by Type
June-2015
2015 vs. 2014 2015 vs. Budget
Percentage Percentage
17
Quarterly Financial Report Through Q2-2015
Real Estate Excise Tax (REET) revenue is receipted into the Capital Improvement Projects Fund
and is used for governmental capital projects. REET revenues collected through Q2-2015 totaled
$2.8 million, compared to budget expectation of $661,000. REET revenues collected in Q2-2015
totaled $1.2 million compared to $669,000 collected in Q2-2014. Real estate sales in the City of
Auburn this quarter included the sale of several warehouse properties, vacant land, the sale of the
Multiplex Theatre at the Outlet Collection – Seattle, as well as the sale of over 350 single family
residences. Effective in the Q3-2015 Financial Report, the REET budget will increase from $1.6
million to $3.0 million per Budget Amendment #2, which was approved by Council in July 2015.
2014 2015 2015
Month Actual Budget Actual Amount Amount
Jan 119,765$ 79,300$ 125,089 5,324$ 4.4 %45,789$ 57.7 %
Feb 208,206 107,300 115,287 (92,919)(44.6)%7,987 7.4 %
Mar 118,578 89,000 1,394,226 1,275,648 1075.8 %1,305,226 1466.5 %
Apr 189,771 106,800 423,394 233,624 123.1 %316,594 296.4 %
May 243,472 138,100 345,489 102,017 41.9 %207,389 150.2 %
Jun 236,067 140,500 436,101 200,033 84.7 %295,601 210.4 %
Jul 305,214 194,800 0 (305,214)(100.0)%(194,800)######%
Aug 263,573 157,800 0 (263,573)(100.0)%(157,800)######%
Sep 182,829 124,500 0 (182,829)(100.0)%(124,500)######%
Oct 163,912 144,600 0 (163,912)(100.0)%(144,600)######%
Nov 259,026 185,900 0 (259,026)(100.0)%(185,900)######%
Dec 183,799 131,400 0 (183,799)(100.0)%(131,400)######%
YTD Total 1,115,859$ 661,000$ 2,839,586$ 1,723,727$ 154.5 %2,178,586$ 329.6 %
Percentage
2015 vs. 2014 2015 vs. Budget
Percentage
Real Estate Excise Tax Revenues
June-2015
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
n
s
Real Estate Excise Tax
2015 YTD Budget
2015 YTD Actual
2014 Actual
18
Quarterly Financial Report Through Q2-2015
Pet Licensing
Year-to-date, 2,563 pet licenses have been sold resulting in $73,605 in revenue. For the same
period in 2014, 3,063 licenses were sold resulting in $76,930 in revenue.
2015 Budget Goal: $240,000 or more
2015 Revenue = $73,605
2014 Revenue = $76,930
2015 Licenses Sold = 2,563
2014 Licenses Sold = 3,063
0
100
200
300
400
500
600
700
800
900
Ja
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Month
Pet Licenses Issued By Month
2015 vs 2014
2015 Licenses Issued
2014 Licenses Issued
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
Ja
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Month
Pet Licensing Revenue By Month
2015
2015 License Revenue
19
Quarterly Financial Report Through Q2-2015
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Ja
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Month
Cumulative Pet Licensing Revenue & Licenses Issued
2015 vs 2014
2015 License Revenue (L)
2015 License Revenue (L)
(Budget Goal: $240,000)
2015 Licenses Issued (R)
2014 Licenses Issued (R)
20
Quarterly Financial Report Through Q2-2015
Enterprise Funds
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 had operating income of $110,400 compared
to operating income of $273,800 in 2014.
The Sewer Utility ended the quarter with an operating loss of $17,000 compared to operating
income of $81,000 in 2014. The Sewer-Metro Utility ended the period with an operating loss of
$174,000 compared to operating income of $1,303,100 for the previous year. The difference is
largely due to the timing of the June 2014 payment to King County Metro ($1.2 million), which
was not posted until July, resulting in a temporary spike in net income.
The Stormwater Utility ended the quarter with $692,300 in operating income which compares
to operating income of $759,200 for the same period last year.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CC
F
Th
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Water Revenues vs Water Sold
2015 vs 2014
2014 Water Sales ($)
2015 Water Sales ($)
2014 Water Sold (ccf)
2015 Water Sold (ccf)
21
Quarterly Financial Report Through Q2-2015
The Cemetery Fund ended the second quarter with operating income of $68,200 compared to
an operating loss of $28,000 for the same period last year. Year to date the number of
interments at the Cemetery totals 110 (55 burials, 55 cremations), which compares to 116 (54
burials, 62 cremations) for the same period last year.
$0
$20
$40
$60
$80
$100
$120
$140
$160
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Th
o
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a
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s
Cemetery Operating Revenues & Expenditures By Month
2015 vs 2014
2015 Bud. Revenue
2015 Act. Revenue
2014 Act. Revenue
2015 Act. Expenses
$0
$200
$400
$600
$800
$1,000
$1,200
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Th
o
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s
a
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s
Cumulative Cemetery Revenues & Expenditures
2015 vs 2014
2015 YTD Bud. Revenue
2015 YTD Act. Revenue
2014 YTD Act. Revenue
2015 YTD Act. Expenses
22
Quarterly Financial Report Through Q2-2015
Internal Service Funds
Operating expenditures within the Insurance Fund represent the premium cost pool that will be
allocated monthly to other City funds over the course of 2015. As a result, this balance will
gradually diminish each month throughout the year.
No significant variances are reported in the Worker’s Compensation, Facilities, Innovation &
Technology, or Equipment Rental Funds. All funds have sufficient revenues to cover year-to-date
expenditures.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: http://www.auburnwa.gov/. For any questions about this report please
contact Shelley Coleman at scoleman@auburnwa.gov.
23
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various 102,070,333$ Various 0.17%
KeyBank Money Market Various 18,275,186 Various 0.00%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FHLB 1/15/2015 1,300,000 7/28/2017 0.89%
LAKUTL 9/25/2013 235,919 11/1/2017 1.90%
Total Cash & Investments 121,939,187$ 0.157%
Investment Mix % of Total
State Investment Pool 83.7%Current 6-month treasury rate 0.09%
KeyBank Money Market 15.0%Current State Pool rate 0.17%
US Treasury 0.0%KeyBank Money Market 0.00%
FFCB 0.0%Blended Auburn rate 0.16%
FHLB 1.1%
LAKUTL 0.2%
100.0%
City of Auburn
Investment Portfolio Summary
June 30, 2015
Summary
24
SALES TAX SUMMARY
JUNE 2015 SALES TAX DISTRIBUTIONS (FOR APRIL 2015 RETAIL ACTIVITY)
2014 Annual Total 2014 YTD 2015 YTD YTD 2014 Annual Total 2014 YTD 2015 YTD YTDNAICSCONSTRUCTION (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff NAICS AUTOMOTIVE (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff
236 Construction of Buildings 866,060 427,371 542,316 26.9%441 Motor Vehicle and Parts Dealer 3,062,768 b 1,422,563 1,663,157 16.9%237 Heavy and Civil Construction 146,261 77,101 97,491 26.4%447 Gasoline Stations 246,636 124,420 114,938 -7.6%
238 Specialty Trade Contractors 741,211 354,375 357,077 0.8%TOTAL AUTOMOTIVE 3,309,404 1,546,982 1,778,094 14.9%
TOTAL CONSTRUCTION 1,753,532 858,847 996,884 16.1%Overall Change from Previous Year 231,112
Overall Change from Previous Year 138,037
2014 Annual Total 2014 YTD 2015 YTD YTD2014 Annual Total 2014 YTD 2015 YTD YTD NAICS RETAIL TRADE (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff
NAICS MANUFACTURING (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff 442 Furniture and Home Furnishings 254,103 122,466 125,079 2.1%
311 Food Manufacturing 3,220 1,890 1,369 -27.6%443 Electronics and Appliances 236,955 151,747 154,707 2.0%
312 Beverage and Tobacco Products 8,257 4,216 4,883 15.8%444 Building Material and Garden 502,470 218,815 263,434 20.4%
313 Textile Mills 234 163 117 -28.2%445 Food and Beverage Stores 352,552 165,897 176,816 6.6%
314 Textile Product Mills 2,970 1,411 1,448 2.6%446 Health and Personal Care Store 187,715 95,263 110,685 f 16.2%
315 Apparel Manufacturing 244 185 81 -56.1%448 Clothing and Accessories 1,008,978 504,835 540,406 7.0%
316 Leather and Allied Products 15 4 1 -69.0%451 Sporting Goods, Hobby, Books 212,015 118,600 111,217 -6.2%
321 Wood Product Manufacturing 76,560 38,502 33,888 -12.0%452 General Merchandise Stores 955,479 476,544 a 486,493 2.1%
322 Paper Manufacturing 5,237 2,478 3,210 29.5%453 Miscellaneous Store Retailers 587,784 282,461 315,841 11.8%
323 Printing and Related Support 44,114 17,200 27,398 59.3%454 Nonstore Retailers 381,876 179,055 199,273 11.3%
324 Petroleum and Coal Products 10,293 5,136 1,415 -72.4%TOTAL RETAIL TRADE 4,679,929 2,315,684 2,483,952 7.3%
325 Chemical Manufacturing 5,397 2,614 3,192 22.1%Overall Change from Previous Year 168,268
326 Plastics and Rubber Products 9,844 5,335 5,315 -0.4%
327 Nonmetallic Mineral Products 19,801 9,771 3,477 e -64.4%
331 Primary Metal Manufacturing 1,542 1,339 1,376 2.7%2014 Annual Total 2014 YTD 2015 YTD YTD
332 Fabricated Metal Product Manuf 33,900 15,287 15,214 -0.5%NAICS SERVICES (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff
333 Machinery Manufacturing 24,491 11,199 12,953 15.7%51*Information 486,856 247,912 244,720 d, i -1.3%
334 Computer and Electronic Product 18,265 10,873 3,642 -66.5%52*Finance and Insurance 87,574 42,233 46,666 10.5%
335 Electric Equipment, Appliances 1,179 562 476 -15.4%53*Real Estate, Rental, Leasing 314,900 153,382 160,421 4.6%
336 Transportation Equipment Man 837,227 415,649 284,243 -31.6%541 Professional, Scientific, Tech 216,494 98,685 98,469 -0.2%
337 Furniture and Related Products 21,248 11,535 7,954 -31.0%551 Company Management 43 26 9,215 35423.6%
339 Miscellaneous Manufacturing 39,052 20,876 24,542 17.6%56*Admin. Supp., Remed Svcs 350,417 191,835 155,861 -18.8%TOTAL MANUFACTURING 1,163,090 576,227 436,192 -24.3%611 Educational Services 49,123 21,939 34,762 g 58.5%
Overall Change from Previous Year -140,034 62*Health Care Social Assistance 66,359 15,668 51,067 225.9%
71*Arts and Entertainment 157,908 99,398 91,709 -7.7%72*Accommodation and Food Svcs 1,066,580 500,085 546,677 9.3%
2014 Annual Total 2014 YTD 2015 YTD YTD 81*Other Services 425,896 203,891 228,313 h 12.0%
NAICS TRANSPORTATION AND WAREHOUSING (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff 92*Public Administration 99,676 45,019 60,340 34.0%
481 Air Transportation 0 0 0 N/A TOTAL SERVICES 3,321,827 1,620,072 1,728,219 6.7%
482 Rail Transportation 8,069 2,215 4,472 101.9%Overall Change from Previous Year 108,146
484 Truck Transportation 4,740 1,751 3,540 102.2%
485 Transit and Ground Passengers 4 0 146 N/A488Transportation Support 26,786 12,818 13,655 6.5%2014 Annual Total 2014 YTD 2015 YTD YTD
491 Postal Service 691 483 137 -71.7%NAICS MISCELLANEOUS (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff
492 Couriers and Messengers 672 422 1 -99.7%000 Unknown 0 0 0 N/A
493 Warehousing and Storage 29,718 c 1,961 6,146 213.4%111-115 Agriculture, Forestry, Fishing 7,488 2,230 1,897 -14.9%
TOTAL TRANSPORTATION 70,679 19,651 28,097 43.0%211-221 Mining & Utilities 28,687 9,734 10,295 5.8%
Overall Change from Previous Year 8,446 999 Unclassifiable Establishments 83,442 63,579 18,776 -70.5%
TOTAL SERVICES 119,617 75,543 30,968 -59.0%
Overall Change from Previous Year -44,575
2014 Annual Total 2014 YTD 2015 YTD YTDNAICSWHOLESALE TRADE (Nov '13-Oct '14)(Nov '13 - Apr '14)(Nov '14 - Apr '15)% Diff
423 Wholesale Trade, Durable Goods 1,024,016 499,126 513,620 2.9%GRAND TOTAL 15,622,791 7,596,196 8,091,609
424 Wholesale Trade, Nondurable 178,054 82,581 94,522 14.5%Overall Change from Previous Year 495,413 6.5%
425 Wholesale Electronic Markets 2,643 1,483 1,061 -28.5%
TOTAL WHOLESALE 1,204,714 583,189 609,203 4.5%
Overall Change from Previous Year 26,014
a. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2014 (adjustment: -$45,145).
b. WA State Dept of Revenue audit adjustment to sales tax returns for period April 2014 (adjustment: $10,242).
c. WA State Dept of Revenue audit adjustment to sales tax returns for period August 2014 (adjustment: $25,146).
d. WA State Dept of Revenue audit adjustment to sales returns for period November 2014 (adjustment: $5,167).
e. WA State Dept of Revenue audit adjustment to sales tax returns for period December 2014 (adjustment: -$2,382).
f. WA State Dept of Revenue audit adjustment to sales tax returns for period January 2015 (adjustment: $4,464).
g. WA State Dept of Revenue audit adjustment to sales tax returns for period February 2015 (adjustment: $11,845).
h. WA State Dept of Revenue audit adjustment to sales tax returns for period February 2015 (adjustment: -$9,355).
i. WA State Dept of Revenue audit adjustment to sales tax returns for period March 2015 (adjustment: -$17,839).
06/26/15
Prepared by Auburn Finance Department
25
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 5,878,656$ 3,892,188$ -$ 4,607,516$ 6,700,044$ 8,143$ 591,201$ -$ 387,527$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 1,723,644 2,677,391 1,735,388
Sewer Metro Service Revenue - - 7,821,868 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 330,841 - - - 42,145 69,869 -
TOTAL OPERATING REVENUES 5,878,656$ 3,892,188$ 7,821,868$ 4,607,516$ 6,700,044$ 338,983$ 591,201$ -$ 387,527$ 1,765,789$ 2,747,260$ 1,735,388$
OPERATING EXPENSES
Salaries & Wages 1,226,317$ 812,738$ -$ 1,178,146$ 198,859$ 13,571$ 217,744$ -$ 39,662$ 278,394$ 731,034$ 309,802$
Benefits 560,287 371,002 - 533,421 91,506 4,886 101,376 - 82,386 141,825 305,931 143,252
Supplies 120,058 58,283 - 29,605 20,724 - 93,908 - - 56,207 166,440 462,223
Other Service Charges 1,732,241 1,107,819 - 605,151 579,536 218,476 51,558 592,373 129,296 534,638 1,268,369 149,381
Intergovernmental Services - 2,847 - 62,150 105,361 - - - - - - -
Waste Management Payments 1 - - - - 5,124,744 - - - - - - -
Sewer Metro Services - - 7,995,845 - - - - - - - - -
Interfund Operating Rentals & Supplies 645,437 485,398 - 667,967 52,469 - 32,730 - - 57,408 81,078 108,514
Other Expenses - - - - - - - - - - - -
Depreciation & Amortization 1,483,901 1,071,104 - 838,732 9,410 237,956 25,719 - - - 309,120 437,546
TOTAL OPERATING EXPENSES 5,768,241$ 3,909,191$ 7,995,845$ 3,915,172$ 6,182,609$ 474,889$ 523,035$ 592,373$ 251,344$ 1,068,472$ 2,861,973$ 1,610,718$
OPERATING INCOME (LOSS)110,414$ (17,003)$ (173,977)$ 692,344$ 517,435$ (135,906)$ 68,167$ (592,373)$ 136,183$ 697,317$ (114,712)$ 124,670$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 10,081$ 8,910$ 563$ 13,271$ 1,585$ 583$ 279$ 579$ 327$ 1,644$ 2,319$ 3,826$
Contributions - - - 1,059,017 29,245 7,105 150 - - - - 816
Other Non-Operating Revenue 94,352 36,137 - 32,596 280 (5,252) (0) - - - 500 96,294
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (27,929)
Debt Service Interest (49,854) (16,217) - - - (18,338) (11,134) - - - - -
Other Non-Operating Expense - - - - - - - - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 54,580$ 28,830$ 563$ 1,114,885$ 31,110$ (15,902)$ (10,705)$ 579$ 327$ 1,644$ 2,819$ 73,007$
PLUS ITEMS NOT AFFECTING WORKING CAPITAL
Depreciation 1,483,901$ 1,071,104$ -$ 838,732$ 9,410$ 237,956$ 25,719$ -$ -$ -$ 309,120$ 437,546$
NET WORKING CAPITAL FROM OPERATIONS 1,648,896$ 1,082,932$ (173,414)$ 2,645,961$ 557,955$ 86,148$ 83,180$ (591,794)$ 136,510$ 698,961$ 197,226$ 635,223$
Increase In Contributions - System Development 349,330$ 280,350$ -$ 261,694$ -$ -$ -$ -$ -$ -$ -$ -$
Increase In Contributions - Area Assessments 500 6,891 - - - - - - - - - -
Increase In Contributions - Other Governments - - - - - - - - - - - -
Increase In Contributions - Other Funds - - - - - - - - - - - -
Increase In Contributions - FAA - - - - - - - - - - - -
Proceeds of Debt Activity 68,973 - - - - - - - - - - -
Operating Transfers In - - - 378,345 - - - - - - - -
Increase In Restricted Net Assets 20,744 - - - - 3,732 - - - - - -
Decrease In Long-Term Receivables - 45,000 - - - - - - - - - -
Increase In Deferred Credits - - - - - 15,219 - - - - - -
TOTAL RESOURCES OTHER THAN OPERATIONS 439,547$ 332,242$ -$ 640,039$ -$ 18,951$ -$ -$ -$ -$ -$ -$
Net Change In Restricted Net Assets 420,668$ 137,976$ -$ 192,316$ -$ 2,448$ -$ -$ -$ -$ -$ (43,864)$
Increase In Fixed Assets - Salaries 150,677 74,672 - 160,580 - - - - - - - -
Increase In Fixed Assets - Benefits 61,788 32,366 - 66,350 - - - - - - - -
Increase In Fixed Assets - Site Improvements 26,051 - - - - - - - - - - -
Increase In Fixed Assets - Land - - - 250,000 - - - - - - - -
Increase In Fixed Assets - Equipment - - - - - - - - - - 257,702 518,286
Increase In Fixed Assets - Construction 1,540,650 1,396,757 - 3,064,836 - 286,454 - - - - - -
Increase In Fixed Assets - Other - - - - - - - - - - - -
Operating Transfers Out 154,033 144,892 - 124,000 - - - - - 290,229 - 179,420
Debt Service Principal 522,831 288,262 - - - - - - - - - -
TOTAL USES OTHER THAN OPERATIONS 2,876,698$ 2,074,925$ -$ 3,858,082$ -$ 288,902$ -$ -$ -$ 290,229$ 257,702$ 653,842$
NET CHANGE IN WORKING CAPITAL (788,255)$ (659,751)$ (173,414)$ (572,082)$ 557,955$ (183,803)$ 83,180$ (591,794)$ 136,510$ 408,732$ (60,475)$ (18,618)$
BEGINNING WORKING CAPITAL - January 1, 2015 2 14,027,406 13,346,282 2,100,400 16,051,080 2,491,724 756,938 294,547 1,654,057 440,004 2,194,912 3,543,327 5,844,690
ENDING WORKING CAPITAL - June 30, 2015 13,239,150 12,686,531 1,926,986 15,478,999 3,049,679 573,135 377,727 1,062,263 576,514 2,603,644 3,482,852 5,826,072
NET CHANGE IN WORKING CAPITAL (788,255)$ (659,751)$ (173,414)$ (572,082)$ 557,955$ (183,803)$ 83,180$ (591,794)$ 136,510$ 408,732$ (60,475)$ (18,618)$
1 June's Waste Management payment in the amount of $844,060 has been added to the Solid Waste Fund and is reflected in the Ending Working Capital balance.
2 The Airport Fund's Beginning Working Capital has been restated reflecting a prior period adjustment of $200,000 as the result of a reclassification of the Airport's interfund loan.
The following table presents the Working Capital Statement for each of the City's Enterprise and Internal Service funds. Working Capital is generally defined as the difference between current assets and current liabilities.
WORKING CAPITAL ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
26
INNOVATION EQUIPMENT
& TECHNOLOGY RENTAL
OPERATING REVENUES
Charges For Service 5,878,656$ 3,892,188$ -$ 4,607,516$ 6,700,044$ 8,143$ 591,201$ -$ 387,527$ -$ -$ -$
Interfund Charges For Service - - - - - - - - - 1,723,644 2,677,391 1,735,388
Sewer Metro Service Revenue - - 7,821,868 - - - - - - - - -
Rents, Leases, Concessions, & Other - - - - - 330,841 - - - 42,145 69,869 -
TOTAL OPERATING REVENUES 5,878,656$ 3,892,188$ 7,821,868$ 4,607,516$ 6,700,044$ 338,983$ 591,201$ -$ 387,527$ 1,765,789$ 2,747,260$ 1,735,388$
OPERATING EXPENSES
Administration 1,414,096$ 1,100,459$ -$ 1,599,032$ 321,107$ 231,461$ 130,376$ 592,373$ -$ -$ -$ 370,163$
Operations & Maintenance 2,870,244 1,737,628 - 1,477,408 727,348 5,472 366,940 - 251,344 1,068,472 2,552,852 803,009
Waste Management Payments 1 - - - - 5,124,744 - - - - - - -
Sewer Metro Services - - 7,995,845 - - - - - - - - -
Depreciation & Amortization 1,483,901 1,071,104 - 838,732 9,410 237,956 25,719 - - - 309,120 437,546
TOTAL OPERATING EXPENSES 5,768,241$ 3,909,191$ 7,995,845$ 3,915,172$ 6,182,609$ 474,889$ 523,035$ 592,373$ 251,344$ 1,068,472$ 2,861,973$ 1,610,718$
OPERATING INCOME (LOSS)110,414$ (17,003)$ (173,977)$ 692,344$ 517,435$ (135,906)$ 68,167$ (592,373)$ 136,183$ 697,317$ (114,712)$ 124,670$
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 10,081$ 8,910$ 563$ 13,271$ 1,585$ 583$ 279$ 579$ 327$ 1,644$ 2,319$ 3,826$
Other Non-Operating Revenue 94,352 36,137 - 1,091,613 29,525 1,853 150 - - - 500 97,111
Gain (Loss) On Sale Of Fixed Assets - - - 10,000 - - - - - - - (27,929)
Other Non-Operating Expense (49,854) (16,217) - - - (18,338) (11,134) - - - - -
TOTAL NON-OPERATING REVENUES & EXPENSES 54,580$ 28,830$ 563$ 1,114,885$ 31,110$ (15,902)$ (10,705)$ 579$ 327$ 1,644$ 2,819$ 73,007$
164,994$ 11,828$ (173,414)$ 1,807,229$ 548,545$ (151,808)$ 57,461$ (591,794)$ 136,510$ 698,961$ (111,894)$ 197,677$
Contributions 349,830$ 287,242$ -$ 261,694$ -$ -$ -$ -$ -$ -$ -$ -$
Transfers In - - - 378,345 - - - - - - - -
Transfers Out (154,033) (144,892) - (124,000) - - - - - (290,229) - (179,420)
TOTAL CONTRIBUTIONS & TRANSFERS 195,797$ 142,350$ -$ 516,039$ -$ -$ -$ -$ -$ (290,229)$ -$ (179,420)$
CHANGE IN FUND BALANCE 360,791$ 154,177$ (173,414)$ 2,323,268$ 548,545$ (151,808)$ 57,461$ (591,794)$ 136,510$ 408,732$ (111,894)$ 18,258$
BEGINNING FUND BALANCE - January 1, 2015 71,320,494$ 78,284,418$ 2,100,400$ 55,862,809$ 2,560,449$ 9,662,547$ 870,261$ 1,654,057$ 434,859$ 2,152,736$ 4,826,830$ 10,864,439$
ENDING FUND BALANCE - June 30, 2015 71,681,285$ 78,438,595$ 1,926,986$ 58,186,078$ 3,108,994$ 9,510,739$ 927,722$ 1,062,263$ 571,369$ 2,561,468$ 4,714,936$ 10,882,696$
1 June's Waste Management payment in the amount of $844,060 has been added to the Solid Waste Fund and is reflected in Ending Fund Balance.
INCOME (LOSS) BEFORE CONTRIBUTIONS &
TRANSFERS
The following table provides an analysis of each of the City's Enterprise and Internal Service funds - showing 2015 revenues and expenditures by fund.
FUND BALANCE ENTERPRISE FUNDS INTERNAL SERVICE FUNDS
WATER SEWER SEWER METRO STORM SOLID WASTE AIRPORT CEMETERY INSURANCE WORKER'S
COMPENSATION FACILITIES
27