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Home My WebLink AboutITEM IV-Ecrnr or AGENDA BILL APPROVAL FORM # WASHINGTON Agenda Subject: January 2011 Financial Report Date: 03/21/2011 Department: Finance Attachments: January Monthly Budget Impact: 0 Report Administrative Recommendation: Background Summary: The January 2011 status report highlights City revenues and expenditures and is based on financial data available as of March 03, 2011. Sales tax reported in January is for business activities that occurred in November 2010. Total General Fund revenues for the City at the end of January including an adjustment of $163,789 for anticipated Streamlined Sales Tax Mitigation were $4,336,675 which is 8.7% of the annual budgeted revenues. Compared to budgeted year-to-date revenues, total General Fund revenue is $454.3K more primarily due higher than anticipated receipts from intergovernmental revenues, electric and telephone utility taxes. Expenditures for the General Fund totaled $3,485,298 which is $713.9K (17.0%) under the projected monthly budget at the end of January. This is primarily due to professional services, utilities and intergovernmental payments for SCORE that are anticipated to be paid in later periods. Reviewed by Council & Committees: Reviewed by Departments & Divisions: ❑ Arts Commission COUNCIL COMMITTEES: ❑ Building ❑ M&O ❑ Airport E Finance ❑ Cemetery ❑ Mayor ❑ Hearing Examiner ❑ Municipal Serv. E 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: Backus Staff: Coleman Meeting Date: March 21, 2011 Item Number: AnURN *MV I.. Page 1 Monthly Financial Report January 2011 General Fund 2011 2011 YTD Bud get vs. Actual Summary of Sources and Uses Favorable ( Unfavorable) Annual Budget YTD Budget YTD Actual Amount Percentage OPERATING REVENUES Property Tax 12,022,340 34,300 49,663 15,363 44.8% Sales Tax (1) 14,255,000 1,184,300 1,195,711 11,411 1.0% Sales Tax - Annexation Credit 1,356,600 107,600 110,776 3,176 3.0% Criminal Justice Sales Tax 1,177,600 95,500 101,274 5,774 6.0% Brokered Natural Gas Tax 260,000 27,600 30,740 3,140 11.4% City Utilities Tax 2,522,800 198,500 191,844 (6,656) -3.4% Admissions Tax 350,000 76,500 59,072 (17,428) -22.8% Electric Tax 2,850,000 702,000 789,549 87,549 12.5% Natural Gas Tax 1,270,410 296,300 268,472 (27,828) -9.4% Cable TV Franchise Fee 689,800 172,400 204,994 32,594 18.9% Cable TV Franchise Fee - Capital 75,000 18,600 15,993 (2,607) -14.0% Telephone Tax 1,972,900 67,900 142,983 75,083 110.6% Garbage Tax (external) 150,000 8,700 9,468 768 8.8% Leasehold Excise Tax 45,000 - - - N/A Gambling Excise Tax 326,500 17,500 7,482 (10,018) -57.2% Business License Fees 200,000 51,000 52,583 1,583 3.1% Building Permits 700,000 45,900 78,928 33,028 72.0% Other Licenses & Permits 229,000 22,700 23,951 1,251 5.5% Intergovernmental (Grants, etc) 3,841,685 351,800 605,147 253,347 72.0% Charges for Services: General Government Services 64,600 5,600 7,128 1,528 27.3% Public Safety 210,000 13,300 14,473 1,173 8.8% Development Services Fees 627,000 48,600 30,479 (18,121) -37.3% Culture and Recreation 877,500 71,300 53,943 (17,357) -24.3% Fines and Forfeits 2,208,500 198,800 167,066 (31,734) -16.0% Interests and Other Earnings 110,000 13,700 5,511 (8,189) -59.8% Rents, Leases and Concessions 315,000 26,600 80,394 53,794 202.2% Contributions and Donations 12,000 1,000 1,904 904 90.4% Other Miscellaneous 46,200 5,300 5,026 (274) -5.2% Transfers In 1,033,468 17,000 17,000 - 0.0% Insurance Recoveries- Capital & Operating 25,000 2,100 15,121 13,021 620.1% Total Operating Revenues 49,823,903 3,882,400 4,336,675 454,275 11.7% Operating Expenditures Council & Mayor 789,980 63,300 55,147 8,153 12.9% Municipal Court & Probation 3,216,460 223,800 208,329 15,471 6.9% Human Resources 815,360 66,600 58,994 7,606 11.4% Finance 1,159,740 89,100 86,192 2,908 3.3% City Attorney 1,659,560 130,800 114,951 15,849 12.1% Planning 3,721,770 357,500 319,659 37,841 10.6% Community & Human Services 1,092,980 42,500 106,338 (63,838) -150.2% Jail - SCORE 6,087,470 413,200 - 413,200 100.0% Police 19,668,600 1,559,200 1,552,113 7,087 0.5% Engineering 2,415,200 204,000 178,207 25,793 12.6% Parks and Recreation 7,279,570 503,000 458,753 44,247 8.8% Streets 3,183,130 237,500 168,499 69,001 29.1% Non-Departmental 4,049,500 308,700 178,116 130,584 42.3% Total Operating Expenditures 55,139,320 4,199,200 3,485,298 713,902 17.0% (1) The anticipated Streamlined Sales Tax for 2011 is $1,965,470. The year to date actual sales tax amount is adjusted to include $163,789 estimated SST Mitigation prorated for January. Page 2 Monthly Financial Report January 2011 Overview This financial overview reflects the City's overall financial position for the fiscal year through January 31, 2011. The report represents financial data available as of March 3, 2011. The budgeted year to date revenues and operating expenditures are primarily based on the collection/disbursement average for the same period of the prior two years. The table on the previous page summarizes the General Fund revenues and expenditures. At the end of January, General Fund revenues totaled $4.3 million and were sufficient to meet expenses of $3.5 million. General Fund revenues were 11.7% greater than budgeted levels, primarily due to the timing of intergovernmental revenues received from the Muckleshoot Indian Tribe. General Fund expenses were 17.0% below budgeted levels, reflecting the timing of intergovernmental payments for SCORE and underexpenditures in professional services and utilities. Revenues Through the end of January, General Fund revenues totaled $4.3 million. The combined total of property tax, sales/use tax, utility tax, gambling, and admissions tax represents 73.3% of all resources supporting general governmental activities. The following section provides detail information on property and sales taxes. Property Tax Year to date collection at the end of January is $49,663 and is 0.41% of the $12,022,340 annual budget. Compared to 2010, the City collected $21,928 or 79.1% more for the same period. At the end of the January, property tax revenue is $15,363 or 44.8% more than the year to date budget. The majority of property tax revenues are collected during the months of April and October, coinciding with the due date for County property tax billings. Property Tax Revenue Year to Date through January 2010 2011 2011 2010 vs. 2011 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 27,735 34,300 49,663 21,928 79.1% 15,363 44.8% Feb 131,275 125,400 0.0% 0.0% Mar 294,363 266,800 0.0% 0.0% Apr 4,877,655 4,683,800 0.0% 0.0% May 1,200,112 1,060,400 0.0% 0.0% Jun 76,369 59,000 0.0% 0.0% Jul 29,190 26,000 0.0% 0.0% Aug 54,328 44,900 0.0% 0.0% Sep 189,677 199,700 0.0% 0.0% Oct 4,657,943 4,388,040 0.0% 0.0% Nov 1,051,178 1,068,600 0.0% 0.0% Dec 79,985 65,400 0.0% 0.0% YTD Total 27,735 34,300 49,663 21,928 79.1% 15,363 44.8% Annual Total 12,669,811 12,022,340 Page 3 Monthly Financial Report January 2011 Sales Tax At the end of January, sales tax revenue including estimated Streamlined Sales Tax Mitigation of $163,789 totaled 1,195,711 and is $67.1K or 5.9% more than 2010 and $11.4K greater than the current YTD budget. Total estimated Streamlined Sales Tax Mitigation for 2011 is $1,965,470 but the actual amount the City will receive from the State is reduced by taxes received from companies that have voluntarily complied with the new destination based sales tax. Review of sales tax returns by SIC sector indicate an improvement in nearly all sectors of the local economy, albeit a very modest one, and is reflective of the tentative nature of the broader economic conditions of the region and nation. While there is some strengthening of the general economy, threats to the pace of the recovery remain and include continued weakness in the labor market, rising energy prices, an unstable geo-political climate in the north African and middle-eastern areas of the world, and the unprecedented scale of damage as a result of the massive earthquake in northern Japan. Sales & Use Tax Revenue Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual * Budget * Actual Amount Percentage Amount Percentage Jan 1,128,608 1,184,300 1,195,711 67,103 5.9% 11,411 1.0% Feb 1,303,518 1,295,400 0.0% 0.0% Mar 1,012,173 1,039,000 0.0% 0.0% Apr 1,495,567 1,272,500 0.0% 0.0% May 1,190,021 1,179,200 0.0% 0.0% Jun 1,045,316 1,074,900 0.0% 0.0% Jul 1,104,591 1,132,000 0.0% 0.0% Aug 1,302,641 1,280,200 0.0% 0.0% Sep 1,221,393 1,188,500 0.0% 0.0% Oct 1,171,092 1,216,400 0.0% 0.0% Nov 1,368,390 1,286,600 0.0% 0.0% Dec 1,139,497 1,106,000 0.0% 0.0% YTD Total 1,128,608 1,184,300 1,195,711 67,103 5.9% 11,411 1.0% Annual Total 14,482,806 14,255,000 *Includes Sales Tax Mitigation prorated monthly. Page 4 Monthly Financial Report January 2011 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. Comparison of Sales Tax Collections by SIC Group Year to Date through January 2010 2011 Change from 2010 Component Group Actual Actual Amount Percentage New Construction 98,946 108,082 9,136 9.2% Manufacturing 28,519 20,896 (7,623) -26.7% Transportation & Warehousing 1,781 8,802 7,021 394.2% Wholesale Trade 105,981 77,569 (28,412) -26.8% Automotive 176,975 202,024 25,049 14.2% Retail Trade 298,978 323,129 24,151 8.1% Services 248,024 282,540 34,516 13.9% Miscellaneous 2,965 4,948 1,983 66.9% YTD Total 962,169 1,027,990 65,821 6.8% Utility Tax This revenue source consists of City inter-fund utility taxes (Water, Sewer, Storm and Solid Waste) and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility tax revenue is $1,402,316, or $143.5K (11.4%) more than 2010, due primarily to the timing of transfers of 1% telephone utility tax dedicated to the Arterial Street Preservation Fund. January 2010 reflects a reduction in revenues by$108,074 (3 months) utility tax restricted for Arterial Street Preservation compared to $28,597 (1 month) reduction in January 2011. Overall, the 2011 actual revenues are greater by $128.9K or 10.1% more than budgeted tax revenues. The main source of this increase is attributed to higher than anticipated revenues from the electric and telephone utility taxes. Utility Tax Revenues Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 1,258,792 1,273,400 1,402,316 143,524 11.4% 128,916 10.1% Feb 483,456 502,900 - 0.0% 0.0% Mar 416,213 336,000 0.0% 0.0% Apr 1,505,874 1,707,500 0.0% 0.0% May 492,247 499,000 0.0% 0.0% Jun 365,171 376,200 0.0% 0.0% Jul 1,303,301 1,299,510 0.0% 0.0% Aug 458,060 504,500 0.0% 0.0% Sep 364,769 382,100 0.0% 0.0% Oct 1,181,926 1,111,000 0.0% 0.0% Nov 427,125 442,100 0.0% 0.0% Dec 334,326 331,900 0.0% 0.0% YTD Total 1,258,792 1,273,400 1,402,316 143,524 11.4% 128,916 10.1% Annual Total 8,591,258 8,766,110 Page 5 Monthly Financial Report January 2011 The following table presents utility tax collections by source: Utilty Tax by Type Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage City Interfund Utility Taxes 182,308 198,500 191,844 9,536 5.2% (6,656) -3.4% Electric 746,132 702,000 789,549 43,417 5.8% 87,549 12.5% Natural Gas 255,003 296,300 268,472 13,469 5.3% (27,828) -9.4% Telephone 66,692 67,900 142,983 76,291 114.4% 75,083 110.6% Solid Waste 8,657 8,700 9,468 811 9.4% 768 8.8% YTD Total 1,258,792 1,273,400 1,402,316 143,524 11.4% 128,916 10.1% Annual Total 8,591,258 8,766,110 Cable TV Franchise Fees are received quarterly and are shown on the table below. January revenues total $204,994 and are $34.2K or 20% greater than the 2011 year to date budget. Cable TV Franchise Fee Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan - 170,800 204,994 204,994 N/A 34,194 20.0% Feb 193,004 - Mar - - Apr 194,032 169,300 May - - Jun - - Jul 195,778 171,200 Aug - - Sep - - Oct 211,916 178,500 Nov - - Dec YTD Total 170,800 204,994 204,994 N/A 34,194 20.0% Annual Total 794,731 689,800 Licenses and Permits This revenue source is comprised of business licenses, building permits, plumbing, electric and other licenses and permit fees. At the end of January, the City has collected 13.8% of the annual projected revenue from licenses and permits. Building permit fees and Business licenses make up 80% of the annual budgeted revenue in this category. Page 6 Monthly Financial Report January 2011 Total building permit revenues at the end of January were $78,928. This was $9.2K lower than 2010 for the same period and $19.OK or 31.8% more than budgeted year to date revenues in 2011. Building Permits Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 88,175 59,900 78,928 (9,246) -10.5% 19,028 31.8% Feb 49,731 38,300 0.0% 0.0% Mar 43,796 37,500 0.0% 0.0% Apr 44,422 56,800 0.0% 0.0% May 96,244 61,500 0.0% 0.0% Jun 74,701 94,500 0.0% 0.0% Jul 72,745 64,300 0.0% 0.0% Aug 61,216 50,600 0.0% 0.0% Sep 55,073 42,600 0.0% 0.0% Oct 62,522 63,500 0.0% 0.0% Nov 31,192 38,300 0.0% 0.0% Dec 89,861 92,200 0.0% 0.0% YTD Total 88,175 59,900 78,928 (9,246) -10.5% 19,028 31.8% Annual Total 769,678 700,000 Business License revenues at the end of January were $48.6K more than 2010 and $1.6K or 3.1% more than the 2011 year to date budget. January revenues are higher compared to 2010 for the same period due to the change in timing of payments. In prior years, payments received mid year were for a 12 month period. In contrast, starting July 2010, these payments were only for the last 6 months of the year. Business license fees were billed again in December to cover a full year in 2011. Business License Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 3,945 51,000 52,583 48,638 1232.9% 1,583 3.1% Feb 4,347 14,100 0.0% 0.0% Mar 3,627 7,900 0.0% 0.0% Apr 4,342 3,900 0.0% 0.0% May 1,987 3,000 0.0% 0.0% Jun 22,171 6,700 0.0% 0.0% Jul 53,961 4,500 0.0% 0.0% Aug 13,403 4,000 0.0% 0.0% Sep 6,850 2,200 0.0% 0.0% Oct 4,940 3,300 0.0% 0.0% Nov 3,468 4,100 0.0% 0.0% Dec 92,229 95,300 0.0% 0.0% YTD Total 3,945 51,000 52,583 48,638 1232.9% 1,583 3.17 Annual Total 215,268 200,000 Page 7 Monthly Financial Report January 2011 Intergovernmental Revenues in this category include Grants (Direct & Indirect Federal, State and Local), State shared revenues and compact revenue from the Muckleshoot Indian Tribe. At the end of January intergovernmental revenues were 149% more than 2010 and 21.9% more than budget due to the timing of revenue for the Muckleshoot compact. Timing of grant revenue varies as they are processed on a reimbursement basis. Intergovernmental Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Revenue Actual Budget Actual % Change % Change Federal Grants 246 200 - -100.0% -100.0% Interlocal Grants 8,142 4,300 4,167 -48.8% -3.1% State Shared Revenue 234,658 262,880 254,455 8.4% -3.2% Muckleshoot Casino Emerg. - 229,100 335,525 N/A 46.5% Intergovernmental Service - - 11,000 N/A N/A YTD Total 243,046 496,480 605,147 149.0% 21.9% Annual Total YTD % 4,089,803 6% 3,841,685 13% 16% Total state shared revenues are $19.8K greater than the same period 2010 due to the new revenue source for Criminal Justice-High crime. Based on crime statistics, starting July 2010 the City began receiving this revenue source which partially offset a decrease in revenues from Criminal Justice -Population. At the end of January, total state shared revenues are in line with the budget and are only $8.4K or 3.2% lower than year to date budget. State Shared Revenues Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Revenue Actual Budget Actual Amount Percentage Amount Percentage Court Interpreter Program 4,518 - - (4,518) 0.00% - N/A Motor Vehicle Fuel Tax 115,067 115,200 114,569 (498) -0.4% (631) -0.5% Criminal Justice -High Crime - 37,100 37,353 37,353 N/A 253 N/A Criminal Justice -Population 17,034 12,980 3,817 (13,217) -77.6% (9,163) -70.6% Criminal Justice -Spec. Prog. 14,056 13,600 14,412 356 2.5% 812 6.0% State DUI 3,156 1,000 3,107 (49) -1.6% 2,107 210.7% Liquor Excise Tax 80,826 83,000 81,197 372 0.5% (1,803) -2.2% YTD Total 234,658 262,880 254,455 19,797 8.4% (8,425) -3.2% Annual Total 2,520,224 2,496,510 Page 8 Monthly Financial Report January 2011 Chartres for Services This revenue source consists of general governmental services, public safety, development service fees and cultural & recreation fees. Development services and culture & recreation revenues make up approximately 85% of the $1,779,100 annual budget for this category and are presented following the Charges for Service table below. At the end of January $106,024 or 0.06% of the annual budget has been received for all charges for services. General government services include passport services, administrative fees, court duplicating costs and sale of maps & publications. This income category is down compared to 2010 primarily due to lower passport services revenue. Public Safety consists of law enforcement services, probation and prisoner lodging fees; overall this revenue source is in line with the budget and is only $1.2K or 8.8% more than budget at the end of January. Probation fees account for $12.3K of the $14.5K received to date for this category. Charges for Services by Type Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Revenue Actual Budget Actual Amount Percentage Amount Percentage General Government 7,812 5,600 7,128 (684) -8.76% 1,528 27.29% Public Safety 14,606 13,300 14,473 (133) -0.9% 1,173 8.8% Development Services 39,755 48,600 30,479 (9,276) -23.3% (18,121) -37.3% Culture & Recreation 65,917 71,300 53,943 (11,974) -18.2% (17,357) -24.3% YTD Total 128,091 138,800 106,024 (22,067) -17.2% (32,776) -23.6% Annual Total 1,861,204 1,779,100 Development services include engineering fees, zoning & subdivision fees and plan check fees. At the end of January, revenues totaled $30,479 and is 23.3% or $9.3K less than the same period in 2010. Total development service revenue is less than the budget for the year by $18.1K or 37.3% primarily due to lower than anticipated engineering and plan check fees revenue. Development Service Fees Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 39,755 48,600 30,479 (9,276) -23.3% (18,121) -37.3% Feb 53,677 53,300 0.0% 0.0% Mar 82,904 59,400 0.0% 0.0% Apr 28,762 39,200 0.0% 0.0% May 18,069 22,100 0.0% 0.0% Jun 38,276 66,400 0.0% 0.0% Jul 43,402 45,600 0.0% 0.0% Aug 70,844 65,700 0.0% 0.0% Sep 99,904 70,200 0.0% 0.0% Oct 64,904 42,400 0.0% 0.0% Nov 37,476 34,000 0.0% 0.0% Dec 109,756 80,100 0.0% 0.0% -75 YTD Total 39,755 48,600 30,479 7 (9,276) -23.3% (18,121) -37.3% Annual Total 687,729 627,000 - T I Page 9 Monthly Financial Report January 2011 Culture & Recreation revenues consist of theater ticket sales, recreational classes, arts commission and senior citizen program fees. Total revenue at the end of January shows a decrease of $12K from 2010 and $17.4K less than 2011 annual budget primarily due to lower recreational classes revenue from adult classes and family programs. Culture & Recreation Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 65,917 71,300 53,943 (11,974) -18.2% (17,357) -24.3% Feb 57,959 57,000 0.0% 0.0% Mar 133,930 134,100 0.0% 0.0% Apr 69,877 78,600 0.0% 0.0% May 70,119 75,600 0.0% 0.0% Jun 109,364 103,500 0.0% 0.0% Jul 89,315 86,600 0.0% 0.0% Aug 76,531 74,300 0.0% 0.0% Sep 60,648 63,300 0.0% 0.0% Oct 39,341 41,700 0.0% 0.0% Nov 41,030 44,200 0.0% 0.0% Dec 44,629 47,300 0.0% 0.0% YTD Total 65,917 71,300 53,943 (11,974) -18.2% (17,357) -24.3% Annual Total 858,661 877,500 Fines & Penalties This revenue category includes traffic and parking infraction penalties, criminal (traffic, non traffic and costs) false alarm and shopping cart fines. Year to date, this revenue source is $167,066 or 29.4% less than 2010 for the same period and $31,734 or 16.0% lower than the projected budget. The overall decrease in January is primarily due to lower traffic infraction and photo enforcement revenues. Fines & Forfeits by Month Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 236,675 198,800 167,066 (69,609) -29.4% (31,734) -16.0% Feb 223,295 188,200 0.0% 0.0% Mar 252,739 210,200 0.0% 0.0% Apr 239,856 204,000 0.0% 0.0% May 228,603 205,300 0.0% 0.0% Jun 204,577 188,200 0.0% 0.0% Jul 219,109 195,300 0.0% 0.0% Aug 177,615 161,000 0.0% 0.0% Sep 165,581 144,800 0.0% 0.0% Oct 121,530 127,100 0.0% 0.0% Nov 204,643 182,900 0.0% 0.0% Dec 198,188 202,700 0.0% 0.0% YTD Total 236,675 198,800 167,066 (69,609) -29.4% (31,734) -16.0% Annual Total 2,472,411 2,208,500 Page 10 Monthly Financial Report January 2011 Fines & Forfeits by Type Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Civil Penalties 2,489 1,300 1,168 (1,321) -53.1% (132) -10.1% Civil Infraction Penalties 63,541 41,700 42,870 (20,671) -32.5% 1,170 2.8% Red Light Photo Enforcement 134,182 122,100 85,867 (48,316) -36.0% (36,233) -29.7% Parking Infractions 18,580 15,300 12,161 (6,418) -34.5% (3,139) -20.5% Criminal Traffic Misdemeanor 5,726 7,600 7,392 1,666 29.1% (208) -2.7% Criminal Non-Traffic Fines 7,908 7,300 5,424 (2,484) -31.4% (1,876) -25.7% Criminal Costs 864 1,100 1,140 276 31.9% 40 3.6% Non-Court Fines & Penalties 3,384 2,400 11,044 7,659 226.3% 8,644 360.1% YTD Total 236,675 198,800 167,066 (69,609) -29.4% (31,734) -16.0% Annual Total 2,472,411 2,208,500 Photo Enforcement Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 134,182 122,100 85,867 (48,316) -36.0% (36,233) -29.7% Feb 103,153 97,500 0.0% 0.0% Mar 118,358 109,300 0.0% 0.0% Apr 122,490 113,200 0.0% 0.0% May 117,742 115,500 0.0% 0.0% Jun 98,202 103,000 0.0% 0.0% Jul 122,177 118,500 0.0% 0.0% Aug 75,485 81,600 0.0% 0.0% Sep 50,624 57,900 0.0% 0.0% Oct 49,153 54,800 0.0% 0.0% Nov 114,621 111,000 0.0% 0.0% Dec 93,709 115,600 0.0% 0.0% YTD Total 134,182 122,100 85,867 (48,316) -36.0% (36,233) -29.7% Annual Total 1,199,896 1,200,000 Page 11 Monthly Financial Report January 2011 Miscellaneous This revenue source is comprised of interest and other investment earnings, rents, leases & concessions, contributions & donations and other miscellaneous income. The 2011 budget for this revenue category is $483,200 and interest & investment and rentals & leases make up 88% of the annual budget. Decreased interest revenue reflects the decline in the financial markets; the Local Government Investment Pool interest has decreased from 0.28% in January 2010 to 0.23% in January 2011. The increase in rentals & leases compared to 2010 revenue and 2011 year to date budget is primarily due to revenue from park facility rental deposits. Other miscellaneous revenue is budgeted conservatively and 2010 receipts for January are higher than 2011 for the same period because it included $15.6K reimbursement for General Fund expenditures. Miscellaneous Revenues by Type Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Interest & Investments 8,194 13,700 5,511 (2,684) -32.8% (8,189) -59.8% Rents & Leases 32,049 26,600 80,394 48,345 150.8% 53,794 202.2% Contributions & Donations 3,247 1,000 1,904 (1,343) -41.4% 904 90.4% Other Miscellaneous Revenue 19,547 5,300 5,026 (14,521) -74.3% (274) -5.2% YTD Total 63,037 46,600 92,834 29,797 47.3% 46,234 99.2% Annual Total 899,378 483,200 Real Estate Excise Tax The Real Estate Excise Tax (REET) revenue is received in the Capital Improvement Projects Fund and is used for governmental capital projects. Total revenue at the end of January is $72.1K or 163.2% more than 2010 and $71.4K or 158.6% more than budget. This increase in REET revenues indicates recovery in the commercial and residential markets. Real Estate Excise Tax Revenues Year to Date through January 2010 2011 2011 2011 vs. 2010 2011 vs. Budget Month Actual Budget Actual Amount Percentage Amount Percentage Jan 44,219 45,000 116,369 72,149 163.2% 71,369 158.6% Feb 56,636 77,700 0.0% 0.0% Mar 74,986 85,500 0.0% 0.0% Apr 89,679 74,800 0.0% 0.0% May 207,808 125,100 0.0% 0.0% Jun 153,434 133,300 0.0% 0.0% Jul 114,879 100,100 0.0% 0.0% Aug 49,393 74,400 0.0% 0.0% Sep 22,789 91,200 0.0% 0.0% Oct 122,410 197,200 0.0% 0.0% Nov 166,145 158,600 0.0% 0.0% Dec (5,235) 37,100 0.0% 0.0% YTD Total 44,219 45,000 116,369 72,149 163.2% 71,369 158.6% Annual Total 1,097,144 1,200,000 Page 12 Monthly Financial Report January 2011 Enterprise Funds The table below provides an analysis of all City Enterprise funds and shows the year to date revenues and expenditures for each enterprise fund. OPERATING REVENUES Charges for services Rents, Leases, Concessions & Other TOTAL OPERATING REVENUES OPERATING EXPENSES: Administration Operations & Maintenance Depreciation & Amortization TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) NON-OPERATING REVENUES & EXPENSES Interest Revenue Other Non Operating Revenue Other Non Operating Expense TOTAL NON-OPERATING REVENUES (EXPENSES) INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS Contributions Transfers In Transfers Out TOTAL CONTRIBUTIONS & TRANSFERS CHANGE IN FUND BALANCE BEGINNING FUND BALANCE, January 1, 2011 ENDING FUND BALANCE, January 31, 2011 Water Sewer Storm Solid Waste Airport Cemetery Golf 621,196 1,345,455 556,613 744,755 2,103 59,396 18,525 - - - - 51,920 - 3,983 621,196 1,345,455 556,613 744,755 54,022 59,396 22,507 199,641 154,425 174,553 56,652 69,501 22,814 19,578 216,393 1,211,485 184,784 55,728 - 39,523 66,740 168,496 126,964 89,884 1,568 17,559 4,767 27,458 584,531 1,492,874 449,221 113,948 87,060 67,104 113,776 36,666 (147,419) 107,392 630,807 (33,037) (7,709) (91,268) 3,726 2,393 1,434 98 219 29 (165) - - - 75 5 3,561 2,393 1,434 98 294 34 40,226 (145,026) 108,826 630,905 (32,743) (7,675) (91,268) 19,392 26,480 31,374 619 (30,608) (23,520) (18,626) - 619 9,618 (168,546) 90,200 630,905 (32,743) (7,675) (90,649) 58,962,689 67,629,064 40,956,334 923,810 9,705,318 865,780 5,140,529 58,972,307 67,460,518 41,046,534 1,554,715 9,672,575 858,105 5,049,880 Solid Waste operating expenses are low due to timing of invoices from Waste Management; the January billing of $627,127 was posted in February. Page 13 Monthly Financial Report January 2011 Internal Service Funds The table below provides an analysis of all City Internal Service funds and shows the year to date revenues and expenditures for each fund. Information Equipment Insurance Facilities Services Rental RATING REVENUES: Interfund Charges for services 323,608 346,619 236,278 Rents, Leases, Concessions & Other 5,420 2,024 - AL OPERATING REVENUES 329,028 348,643 236,278 OPERATING EXPENSES: Administration 974,610 - 20,550 45,742 Operations & Maintenance - 88,608 378,834 93,363 Depreciation & Amortization - - 33,109 78,290 TOTAL OPERATING EXPENSES 974,610 88,608 432,493 217,395 OPERATING INCOME (LOSS) (974,610) 240,420 (83,850) 18,883 NON-OPERATING REVENUES & EXPENSES Interest Revenue 261 196 771 1,100 Other Non Operating Revenue - - - 2,776 Other Non Operating Expense - - - - TOTAL NON-OPERATING REVENUES (EXPENSES) 261 196 771 3,875 INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (974,349) 240,615 (83,079) 22,758 Contributions - - Transfers In Transfers Out (7,000) TOTAL CONTRIBUTIONS & TRANSFERS - (7,000) CHANGE IN FUND BALANCE (974,349) 240,615 (83,079) 15,758 BEGINNING FUND BALANCE, January 1, 2011 2,366,832 731,686 4,918,922 10,611,968 ENDING FUND BALANCE, January 31, 2011 1,392,483 972,301 4,835,843 10,627,726 The Insurance Fund expenses include $974,196 balance of the annual insurance payment. This amount will be decreasing throughout the year as the expense is being allocated to various departments and funds on a monthly journal entry. Equipment rental fund balance of $10,627,726 includes approximately $4.8 M in fixed assets net of depreciation which primarily consists of the City's fleet vehicles. Contact Information This report is prepared by the Finance Department. Additional financial information can also be viewed at our website: http://www.auburnwa.srov/. For any questions about the report please contact us at mchawC~auburnwa.ov or scolemanC~auburnwa.ov. Page 14 N a T -T N G O 0= N h- O N- N 0 0 0 0 0 0 0 0 0 I~ r r M (O N (O ~ ~ V V W N M (O M V o c? O c I-ocl~ c r 1 I~ o a r rci °ir~r_~ of V (O ~..M ~ N Imo.. U..N U) M W M O N N r V V 0 M O N V O ~ M M N - N W M M N a Cd M V F» ~ N O (0 OD N O M N N O N 0 0 0 I~ M M W (O N M M ON , N V O O M ~ M M li M~ M N N L 1 N O d a` O) U O 0 0 0 0 ~ W N N M N N ~ 7 I-- O -ru timm fA ~ N N ~2 -It M N M OD M N V ~ N N M N 7 O O N oa`p U U K p F M U m z m a y OU U j .U Q L (6 p ~ ~ 4: U) M r N 0 W (O M ' M r W M O) 0 0 0 0 0 0 0 0'50, (O0 0 0 N, I~ O~O) O ~ M ~ s I_ o-j 1 I 2 i_~ O ('1 ~ n l I~ N V c_ ca T T j o c I , m m E» ~ G7 N N M~ M M M V a V N M O I~ O N M N I~ N 7 V (O I~ r V~ M (O (O W O O N N ~ N N (O N~ V n M M W 0~ r r M M M O (O M M V W I~ O YJ V N I~ M (O N W I~ O M M M N M O M O O) N N OM C o 0 o o p i O M 01 0~ 16 r 10 ol~mm - v w ~clomrn i V c M N (00 ~ M (~O ~ M N N N 1 1 1 6 0 N ~ O Y `1 65 0 = O U N ; 3 O Y 3 O Co 'N LL N U U s Lu 0 0 U J U 4 LL N 4 O p p U) N p p t6 p Q O w p p Q LL o- O N O 4 O a O Q -O U O N (6 0 U N, U ~ N J U S W N U LL' U N M W U p N N p w W W U p H Y U LL~ N NCO CL '6 O N O N U~ p~ 2 .0 Q E) N W (6 M ~p W C 4 a;j~ K W L , p 0 0 p) N 6I 6I N N 0 K U J. (6 O N (6 p T p U) .N (n O U -6 p Q J U 3 Y W W Co U as E-E y ~ .E t - 0 m O U N Q~ H p 0W wQ.~ YmE o N E E m t s < H p 0 1~ Y U QM H p p p p Q p O LL W COLL=UU U' ~Z Q HU p 0 p U _LL LLLL UQ W =QQ OCL O HU p) 7Z2 :S N ~ ~ N ~ N 0 N M V N (O M N M V V V V V V N 000 N V V V V V V V V V V 0 0 0 0 0 0 0 0 0 0 0 0 0 ~ N M V N (O ~ N ~ N ~ N N N N N N N (O (O I~ r~ W 0 0 0 0 0 0 0 0 0 o Q o o O 0 O W O W N W Q o 0 =0 O N O V N M W (O N N m J M o V W (O 0 V V O N N M N V N N M V M V N M M O N O 0 0 V V m O O V O W W M 0 O M N Om (O (O N ^ N Z V O Z N M N N M M N Z V M 7 p) M O C~...V r t'1 c0 Gi U G K r 1 C O , I- I N L. r ~ I v) M (O 0 O N V N N V V !0 N N (O M V M 0 (O N W NO~M (V V ~ rD... ~J -T C~.. CJ 1C 1 (1 1 ) J cC _ T C I (O N (O M N I~ O ~-O M M M O N ~M OM I Oo (V ~ O ~ ~ (D N= 0 N- W lD- O C- N fA ~ D N C, ~l 1 c r CG CJ ~ W N -M m ~ 17 C~ T cJ M N M N c_ O N- W O- W n: 69 ~ r OD fg ~ N N O V~ V V N~ N M~~ V r N V~ (O ~ (O N O M N M (O N O ~ ~ V I~ ~ N I~ M (V O O V M O O) O) ~2 (V L 1 N L 1 N U) ~ U) 3 -6 N (6 3 O O Y1 ~ 1, O Z d o a u o ~o o na)a uKR o 1w 2M Co m- 0 m a -o a m a o p m. '0 c 0 Q t p'- ° m m m E- m om a~i w- . 2 U N2 N CL 6I N U U N N C 3 .U 0 3 N J > X X Q N 00 Q p ° E s o f E o H p Co F-- ¢ a a` a a z [L` i U W F LL O O' N M V N (0 N M V N (0 I~ N M V N (0 I~ W N N N N N N N M M M M M M M M M M M M M M M M M M M M M M M M M M M M O (00 M O W O r W N O N W N V M N ~ N L 1 o z O ~ N p 0 d - 0 Sm O 6 Q N U I 0 m o o U p m U a) Q a F o U N C U J tt~~ F Y U) U) ~ ~ Q L 'm 2 m m o o 0i N V N M N M M M M M W W W V V V V V V V 0 K F o 0 o 0 O - W N O fp N ~ I G m N r (D c u~ R r ro fA ~ O) N r M O L 1 N ~ Y O (6 Y v a a O U J O _ z' Q o m J M a c ~m3U U) U) J ~ O O H N v v ~ a` In N 0) N IL City of Auburn Investment Portfolio Summary As of January 31, 2011 Investment Purchase Purchase Maturity Yield to Type Date Price Date Maturity State Investment Pool Various $ 89,919,029 Various 0.26% KeyBank Money Market Various 9,904,574 Various 0.10% US Treasury 05/04/1990 57,750 05/15/2016 5.72% FHLB 2/2/2009 1,000,000.00 2/2/2011 1.540% FHLB 2/2/2009 1,000,000.00 8/2/2011 1.840% FHLB 3/24/2010 2,000,000.00 12/24/2012 1.550% FNMA 3/25/2010 2,000,000.00 3/25/2013 1.850% FNMA 5/13/2010 1,725,000.00 12/24/2013 1.550% FHLB 5/20/2010 2,500,000.00 2/20/2013 1.625% FHLMC 6/24/2010 2,000,000.00 12/24/2013 1.750% FNMA 6/30/2010 1,000,000.00 12/30/2013 1.750% Total Cash & Investments $ 113,106,352 0.418% Investment Mix % of Total Summary State Investment Pool 79.5% Current 6-month treasury rate 0.19% KeyBank Money Market 8.8% Current State Pool rate 0.26% US Treasury 0.1% KeyBank Money Market 0.10% FHLB 5.7% Blended Auburn rate 0.42% FNMA 4.2% FHLMC 1.8% 100.0% Page 16