HomeMy WebLinkAboutMay 2010AGENDA BILL APPROVAL FORM
* SASH II'Ti
Agenda Subject: May 2010 Financial Report Date: 7/14/2010
Department: Finance Attachments: May Monthly Report Budget Impact: 0
Administrative Recommendation:
Background Summary:
The May 2010 status report highlights City revenues and expenditures and is based on financial
data available as of June 23, 2010. Sales tax reported in May is for business activities that occurred in March 2010.
Total General Fund revenues for the City at the end of May were $23,284,129 which is
approximately 47% of the annual budgeted revenues. Streamlined Sales Tax mitigation forthe nd
2 quarter of 2010 was posted In June 2010 and the year to date sales tax amount was
adjusted to include $325,542 total SST mitigation forApril & May. Compared to budgeted year- to-date revenues, total General Fund revenue is $1.11 M (5%) more due to timing of receipts
of
intergovernmental revenues coupled with increases in traffic infraction & photo enforcement
revenues.
Expenditures for the General Fund totaled $19,635,610 which is $2.68 M (12 under budget
at the end of May. Most of the departments' expenses in the General Fund are below budget during the first part of the year as some expenses such supplies, professional and
intergovernmental services are paid out in later periods.
Reviewed by Council & Committees: Reviewed by Departments & Divisions:
❑ Arts Commission COUNCIL COMMITTEES: ❑ Building ❑ M&0
❑ 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 I l
Referred to Until I l
Tabled Until I I
Councilmember: Backus Staff: Coleman
Meeting Date: July 19, 2010 Item Number:
rr~Y
t 4 ~ i ri' rr ~ :'r }1 •~K SAY J l ~ ~ I i y a fir' ti i f.. ~ ~ .i f ~ Sr 'r9 .AS ~1
1
M®nthly Financial Rep®rt May 2010
C►eneral Fund 2010 2010 YTD budget vs. Actual Summary of Sources and Uses Favorable (Unfavorable)
Annual budget YTD Pudget YTD Actual Amount Percentage
®PERATWG REVENUES
Property Tax 12,357,309 6,310,200 6,531,141 220,941 3.5% Sales Tax (1) 14,255,000 5,986,700 6,129,887 143,187 2.4%
Sales Tax -Annexation Credit 1,453,500 616,500 563,175 (53,325) -8.6%
Criminal Justice Sales Tax 1,143,300 484,600 521,619 37,019 7.6°l0 Brokered Natural Gas Tax 260,000 142,400 141,226 (1,174) -0.8%
City Utilities Tax 2,140,200 908,200 984,010 75,810 8.3°l0
Admissions Tax 400,000 178,000 143,800 (34,200) -19.2%
Electric Tax 2,794,100 1,526,200 1,586,935 60,735 4.0°l0 Natural Gas Tax 1,245,500 834,200 633,305 (200,895) -24.1%
Cable TV Franchise Fee 676,300 337,700 387,036 49,336 14.6%
Telephone Tax 1,734,200 718,600 888,861 170,261 23.7°l0
Garbage Tax (external) 100,000 40,200 63,470 23,270 57.9°l0 Leasehold Excise Tax 80,000 43,600 10,397 (33,203) -76.2%
Gambling Excise Tax 766,500 375,800 178,662 (197,138) -52.5%
Business License Fees 200,000 22,900 18,248 (4,653) -20.3% Building Permits 700,000 283,200 322,367 39,167 13.8%
Other Licenses & Permits 188,000 70,000 157,301 87,301 124.7°l0
Intergovernmental (Grants, etc) 4,388,740 1,358,800 1,667,543 308,743 22.7%
Charges for Services: General Government Services 113,000 52,200 41,860 (10,340) -19.8%
Public Safety 244,000 116,500 103,332 (13,168) -11.3%
Development Services Fees 857,000 340,400 223,168 (117,232) -34.4% Culture and Recreation 821,000 399,600 397,803 (1,797) -0.4%
Fines and Forfeits 1,870,700 769,400 1,181,167 411,767 53.5%
Interests and Other Earnings 170,000 95,900 68,514 (27,386) -28.6%
Rents, Leases and Concessions 223,000 93,400 130,962 37,562 40.2°l0 Contributions and Donations 26,600 7,700 22,803 15,103 196.1%
Other Miscellaneous 46,200 20,800 137,811 117,011 562.6%
Transfers In 17,000 17,000 17,000 - 0.0% Insurance Recoveries- Capital & Operating 55,000 22,900 30,729 7,829 34.2°l0
Total ®perating Revenues 49,326,149 22,173,600 23,284,129 1,110,529 5.0%
®perating Expenditures
Council & Mayor 738,900 323,700 277,293 46,407 14.3% Municipal Court & Probation 3,055,280 1,250,880 1,056,065 194,815 15.6%
Human Resources 736,150 311,250 279,848 31,402 10.1%
Finance 1,170,960 484,860 479,868 4,992 1.0%
City Attorney 1,636,050 764,450 726,559 37,891 5.0% Planning 3,081,470 1,415,570 1,329,973 85,597 6.0°l0
Community & Human Services 1,050,400 398,900 391,034 7,866 2.0%
Police 23,429,315 9,680,015 8,687,885 992,130 10.2% Engineering 2,941,610 1,306,310 1,011,410 294,900 22.6°l0
Parks and Recreation 6,766,200 2,802,200 2,663,252 138,948 5.0%
Streets 3,093,500 1,273,700 1,100,768 172,932 13.6%
Non-Departmental 5,821,200 2,307,000 1,631,655 675,345 29.3% Total ®perating Expenditures 53,521,035 22,318,835 19,635,610 2,683,225 12.0%
(1J The anticipated Streamlined Sales Tax Mitigation for 2010 is $1,966,755. The year to date actual sales tax amount
is adjusted to include $489,227 SST Mitigation the City received from the State for 1St the quarter of 2010 and
$325,542 SST Mitigation for April & May based on $488,313 2nd quarter revenue received in June.
2
M®nthly Financial Rep®rt May 2010
Overview
This financial overview reflects the City's overall financial position for the fiscal year through May
31, 2010. The budgeted year to date revenues and operating expenditures are primarily based
on the collection/disbursement for the same period of 2009. The table on the previous page
summarizes the general fund revenues and expenditures.
Revenues
Taxes
In May, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 80% of all resources supporting general governmental activities. The
following section provides detail information on property and sales taxes.
Pr®perty Tax
Year to date collection at the end of May is $6,531,141 or 52.9% of the $12,357,509 annual
budget. Compared to 2009, the City collected $1,117,449 or 20.6% more for the same period.
At the end of the May, property tax revenue is $220,941 or 3.5% more than the year to date
budget and is in line with the budget.
Property Tax Revenue
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 38,602 45,000 27,735 (10,867) -28.2% (17,265) -38.4%
Feb 111,495 130,000 131,275 19,780 17.7% 1,275 1.0% Mar 222,173 259,000 294,363 72,190 32.5% 35,363 13.7%
Apr 4,188,834 4,882,400 4,877,655 688,822 16.4% (4,745) -0.1%
May 852,588 993,800 1,200,112 347,524 40.8% 206,312 20.8%
Jun 37,763 44,000
Jul 21,078 24,600
Au 32,632 38,000
Sep 196,787 229,400
Oct 3,836,015 4,471,109 Nov 1,017,258 1,185,700
Dec 46,566 54,300
YTD Total 5,413,692 6,310,200 6,531,141 1,117,449 20.6% 220,941 3.5%
Annual Total 10,601,791 12,357,309
3
M®nthly Financial Rep®rt May 2010
Sales Tax
As of the end of May, the year to date sales tax revenue of $6,129,887 is $354.3K more than
2009 and $143.2K more than the current YTD budget. At the end of the 1St quarter the City has
received $489,227 of the total anticipated SST mitigation of $1,966,775 for 2010. Total
Streamlined Sales Tax mitigation for 2nd quarter of $488,313 was posted in June and actual
monthly totals for April and May was adjusted to include each month's prorated share. The
actual amount of SST mitigation 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.
Sales & Use Tax Revenue
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual ~ Bud et Actual Amount Percenta a Amount Percenta e
Jan 1,232,999 1,213,000 1,128,608 (104,391) -8.5% (84,392) -7.0% Feb 1,279,532 1,372,300 1,303,518 23,985 1.9% (68,782) -5.0%
Mar 1,059,642 1,085,700 1,012,173 (47,469) -4.5% (73,527) -6.8%
Apr 1,041,972 1,066,300 1,495,567 453,595 43.5% 429,267 40.3%
May 1,161,471 1,249,400 1,190,021 28,550 2.5% (59,379) -4.8%
Jun 1,098,038 1,144,900
Jul 1,152,738 1,180,300
Aug 1,250,264 1,302,700 Sep 1,148,525 1,147,700
Oct 1,254,457 1,200,400
Nov 1,197,153 1,175,200
Dec 1,065,935 1,117,100
YTD Total 5,775,616 5,986,700 6,129,887 354,271 6.1% 143,187 2.4%
Annual Total 13,942,728 14,255,000
Includes Sales Tax Mitigation prorated monthly.
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 May
2009 2010 Chan a from 2009
Component Group Actual Actual Amount Percenta e
New Construction 546,256 515,109 (31,147) -5.7°l0
Manufacturing 177,168 155,115 (22,053) -12.4°l0
Transportation & Warehousing 13,102 13,009 (93) -0.7°l0
Wholesale Trade 428,433 468,659 40,226 9.4°l0
Automotive 962,037 985,420 23,383 2.4°l0
Retail Trade 1,559,352 1,532,967 (26,385) -1.7°l0 Services 1,249,498 1,606,334 356,836 28.6°l0
Miscellaneous 16,368 72,621 56,253 343.7°l0
YTD Total 4,952,214 5,349,234 397,020 8.0°l0
Utilit Tax
4
M®nthly Financial Rep®rt May 2010
This revenue source consists of City inter-fund utility taxes (1Xlater, Sewer, Storm and Solid Waste)
and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility
tax revenue is $4,156,580 which is $556.2K (11.8%) less than 2009 primarily due to the City
lnterfund utility taxes and a decrease in the Natural Gas utility tax. There was a temporary
increase in the City inter-fund tax for Solid Waste from November 2008 through October 2009.
In addition, record breaking warm winter temperatures in 2010 contributed the decrease in the
Natural Gas utility tax. Overall, the 2010 actual revenues are greater by $129.2K or 3.2% more
than budgeted tax revenues. The main source of this increase is attributed to higher revenues in the telephone utility tax. An adjustment to increase estimated revenues for telephone
utility tax
by $200K is included in the mid year budget amendment and will be reflected in June.
Utility Tax Revenues
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
Jan 1,329,027 1,188,200 1,258,792 (70,236) -5.3% 70,592 5.9%
Feb 592,186 448,200 483,456 (108,730) -18.4% 35,256 7.9%
Mar 304,496 216,900 416,213 111,717 36.7% 199,313 91.9%
Apr 1,911,964 1,738,100 1,505,874 (406,090) -21.2% (232,226) -13.4%
May 575,114 436,000 492,247 (82,867) -14.4% 56,247 12.9%
Jun 441,229 325,200 Jul 1,340,355 1,195,700
Aug 621,691 469,600
Sep 453,881 336,100
Oct 1,123,629 980,000
Nov 516,516 397,200
Dec 376,459 282,800
YTD Total 4,712,787 4,027,400 4,156,580 (556,207) -11.8% 129,180 3.2%
Annual Total 9,586,547 8,014,000
The following table presents utility tax by source:
Utility Tax by Type
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
City lnterfund Utility Taxes 1,303,326 908,200 984,010 (319,316) -24.5% 75,810 8.3%
Electric 1,639,293 1,526,200 1,586,935 (52,358) -3.2% 60,735 4.0%
Natural Gas 828,684 834,200 633,305 (195,379) -23.6% (200,895) -24.1%
Telephone 880,546 718,600 888,861 8,315 0.9% 170,261 23.7%
Solid Waste 60,938 40,200 63,470 2,532 4.2% 23,270 57.9%
YTD Total 4,712,787 4,027,400 4,156,580 (556,207) -11.8% 129,180 3.2%
Annual Total 9,586,547 8,014,000
Cable TV Franchise Fees are received quarterly and are shown on the table below. This is $14.4K
or 3.9% more than the previous year for the same period and is $49.3K or 14.6% greater than
the 2010 year to date budget.
5
M®nthly Financial Rep®rt May 2010
Cable T~' Franchise Fee
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
Jan 188,592 170,900 - (188,592) -100.0% (170,900) -100.0%
Feb - - 193,004 193,004 N/A 193,004 N/A
Mar - - - - N/A - N/A
Apr - - 194,032 194,032 N/A 194,032 N/A May 184,011 166,800 - (184,011) -100.0% (166,800) -100.0%
Jun - -
Jul 186,766 169,200
Aug - -
Sep - -
Oct 186,910 169,400
Nov - - Dec - -
YTD Total 372,604 337,700 387,036 14,433 3.9% 49,336 14.6%
Annual Total 746,280 676,300
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 May, the City has collected 31% of the annual projected revenue from licenses and permits. Building permit fees and Business licenses make
up
83% of the annual budgeted revenue in this category and the following tables present detail
information for each.
Building Permits
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percents a Amount Percents e
Jan 17,047 69,800 88,175 71,128 417.2% 18,375 26.3%
Feb 30,070 30,500 49,731 19,661 65.4% 19,231 63.1%
Mar 34,273 84,000 43,796 9,523 27.8% (40,204) -47.9%
Apr 85,717 51,800 44,422 (41,295) -48.2% (7,378) -14.2%
May 44,732 47,100 96,244 51,512 115.2% 49,144 104.3%
Jun 158,105 49,800
Jul 90,765 62,900 Au 54,856 96,200
Sep 42,615 68,300
Oct 83,041 45,300
Nov 56,606 38,200
Dec 137,651 56,100
YTD Total 211,839 283,200 322,367 110,528 52.2% 39,167 13.8%
Annual Total 835,478 700,000
Total building permit revenues at the end of May were $322,367. This was $52K greater than
2009 for the same period and $39.2K or 13.8% more than budgeted revenues. The increase
from 2009 is primarily due to the developments at Trail Run and North Tapps Estates.
6
M®nthly Financial Rep®rt May 2010
Business License revenues at the end of May are $5.6K or 23.4% less than 2009 and $4.7K or
20.3% less than 2010 year to date budget. This revenue source is expected to be low during the
first part of the year as most licenses are renewed in June.
Business License
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 6,626 6,300 3,945 (2,681) -40.5% (2,355) -37.4%
Feb 4,258 4,100 4,347 89 2.1% 247 6.0% Mar 4,706 4,500 3,627 (1,079) -22.9% (873) -19.4%
Apr 3,952 3,800 4,342 390 9.9% 542 14.3%
May 4,289 4,200 1,987 (2,303) -53.7% (2,214) -52.7%
Jun 102,500 98,000
Jul 49,110 47,000
Au 12,061 11,500
Sep 6,271 6,000 Oct 6,277 6,000
Nov 5,229 5,000
Dec 3,810 3,600
YTD Total 23,831 22,900 18,248 (5,584) -23.4% (4,653) -20.3%
Annual Total 209,089 200,000
Inters®vernmental
Revenues in this category include Grants, (Direct & Indirect Federal, State and Local) State shared
revenues and compact revenue from the Muckleshoot Indian Tribe. May receipts are greater
than budgeted revenue mainly due to the Muckleshoot compact that is budgeted conservatively.
Timing of grant revenue varies as they are processed on a reimbursement basis.
Intergovernmental
Year to Date through May
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual % Chan e % Chan e
Federal Grants 21,737 63,900 133,264 513.1% 108.6%
State Grants 28,032 20,100 38,636 37.8% 92.2%
lnterlocal Grants 16,667 46,200 88,425 N/A 91.4% State Shared Revenue 968,301 1,002,200 1,038,987 7.3% 3.7%
Muckleshoot Casino Emer . 323,222 226,400 368,231 13.9% 62.6%
YTD Total 1,357,958 1,358,800 1,667,543 22.8% 22.7%
Annual Total 4,499,411 4,388,740
YTD % 30% 31% 38%
Total state shared revenues are greater than 2009 for the same period due to the increased
Motor Vehicle Fuel Tax revenues and the timing of Trial Court Improvements revenue. This
revenue was not received until June in 2009. Compared to budget, revenues are greater by
$36,787 or 3.7%. Income from Criminal Justice-Special programs and Liquor profits were
budgeted conservatively and contributed to the overall increase.
7
M®nthly Financial Rep®rt May 2010
State Shared Revenues
Year to Date through May 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
Trial Court Improvements - 6,000 11,360 11,360 N/A 5,360 89.33%
Court Interpreter Pro ram 10,205 - - (10,205) N/A - N/A
Motor Vehicle Fuel Tax 564,131 590,100 574,857 10,726 1.9% (15,243) -2.6%
Criminal Justice -Population 32,452 33,600 34,040 1,588 4.9% 440 1.3% Criminal Justice -Spec. Pro . 26,876 16,100 28,009 1,132 4.2% 11,909 74.0%
State DUl 5,964 2,000 6,288 324 5.4% 4,288 214.4%
Liquor Excise Tax 162,338 162,900 167,432 5,094 3.1% 4,532 2.8% Liquor Profits 106,658 131,500 153,457 46,799 43.9% 21,957 16.7%
YTD Total 968,301 1,002,200 1,038,987 70,686 7.3% 36,787 3.7%
Annua( Total 2,465,986 2,594,740
Charles f®r Services
This revenue source consist of general governmental services, public safety, development service
fees and cultural & recreation fees. Development services and culture & recreation revenues make
up approximately 82% of the $2,035,000 annual budget for this category and are presented
following the Charges for Service table below. At the end of May $766,162 or 37.6% of 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 revenue source is low compared to 2009 primarily because
the City received $12,394 for court services from the City of Algona in January 2009 for prior
year services. The mid year budget amendment includes a reduction for City of Algona court
charges as the City of Auburn i5 no longer collecting this revenue as Algona's court cases are now
being handled by the City of Pacific.
Public Safety consists of law enforcement services, probation and prisoner lodging fees.
Probation fees account for $86K of the $103.3K received to date for this category and is 11.3% less than budgeted revenues as of the end of May.
Charges for Services by Type
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
General Government 55,457 52,200 41,860 (13,597) -24.52% (10,340) -19.81%
Public Safety 120,004 116,500 103,332 (16,672) -13.9% (13,168) -11.3%
Development Services 196,486 340,400 223,168 26,682 13.6% (117,232) -34.4% Culture & Recreation 404,989 399,600 397,803 (7,186) -1.8% (1,797) -0.4%
YTD Total 776,936 908,700 766,162 (10,773) -1.4% (142,538) -15.7%
Annual Total 1,683,495 2,035,000
Development Services include Engineering fees, zoning & subdivision fees and plan check fees.
Year to date revenues total $223,168 and is 13.6% or $26.7K greater than 2009 for the same period. Zoning a & subdivision fees related to Kersey 3 and Jovita Heights contributed to the
overall increase from 2009 coupled with plan check fees for various commercial and residential
projects. Still, total development service revenue is less than the budget for the year by $117.2K
or 34.4% due to lower than anticipated engineering fees revenue. The mid year budget
amendment includes a reduction of $155K for engineering fees to reflect actual receipts.
s
M®nthly Financial Rep®rt May 2010
Development Service Fees
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 51,833 89,800 39,755 (12,078) -23.3% (50,045) -55.7%
Feb 46,818 81,100 53,677 6,859 14.7% (27,423} -33.8%
Mar 29,147 50,500 82,904 53,757 184.4% 32,404 64.2%
Apr 45,238 78,400 28,762 (16,476) -36.4% (49,638} -63.3% May 23,450 40,600 18,069 (5,381} -22.9% (22,531} -55.5%
Jun 86,974 150,800
Jul 42,644 73,900
Aug 53,060 92,000
Sep 32,404 56,200
Oct 15,079 26,100 Nov 26,650 46,200
Dec 41,227 71,400
YTD Total 196,486 340,400 223,168 26,682 13.6% (117,232) -34.4%
Annual Total 494,524 857,000
Culture & Recreation revenues consist of theater ticket sales, recreational classes, arts commission
and senior citizen program fees. Revenue for the month of May shows a decrease from 2009 and is mainly due to decrease in the Bravo ticket sales.
Culture & Recreation
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 71,561 70,600 65,917 (5,644) -7.9% (4,683) -6.6%
Feb 51,878 51,200 57,959 6,081 11.7% 6,759 13.2%
Mar 124,525 122,900 133,930 9,405 7.6% 11,030 9.0%
Apr 81,520 80,400 69,877 (11,643) -14.3% (10,523) -13.1% May 75,505 74,500 70,119 (5,386) -7.1% (4,381) -5.9%
Jun 90,011 88,800
Jul 77,622 76,600
Aug 66,639 65,700
Sep 61,305 60,500
Oct 41,086 40,500 Nov 44,066 43,500
Dec 46,42 8 45, 800
YTD Total 404,989 399,600 397,803 (7,186) -1.8% (1,797) -0.4%
Annual Total 832,146 821,000
Fines & Penalties
These revenue sources include traffic and parking infraction penalties, criminal (traffic, non traffic
and costs) false alarm and shopping cart fines. This revenue source is $371,570 or 45.9% greater
than 2009 for the same period and $411,767 or 53.5% higher than the projected year to date
budget. The overall increase is primarily due to the rise in the traffic infraction and photo
enforcement revenues. Traffic and parking infractions revenue are budgeted conservatively and
contributed to the overall increase between the year to date actual revenues and budget.
9
M®nthly Financial Rep®rt May 2010
Fines & Forfeits by Month
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 148,141 140,800 236,675 88,534 59.8% 95,875 68.1%
Feb 153,213 145,600 223,295 70,082 45.7% 77,695 53.4%
Mar 168,348 160,000 252,739 84,391 50.1% 92,739 58.0% Apr 165,420 157,200 239,856 74,436 45.0% 82,656 52.6%
May 174,475 165,800 228,603 54,128 31.0% 62,803 37.9%
Jun 168,280 159,900
Jul 159,112 151,200
Aug 144,593 137,500
Sep 163,212 155,200
Oct 143,517 136,500 Nov 167,497 159,200
Dec 212,349 201,800
YTD Total 809,597 769,400 1,181,167 371,570 45.9% 411,767 53.5%
Annual Total 1,968,157 1,870,700
Fines & Forfeits by Type
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Civil Penalties 8,21b 5,800 10,324 2,108 25.7% 4,524 78.0%
Civil Infraction Penalties 266,919 193,100 354,430 87,512 32.8% 161,330 83.5%
Red Light Photo Enforcement 352,410 480,800 595,92b 243,516 b9.1% 115,12b 23.9% Parking Infractions 63,718 19,700 83,383 19,665 30.9% 63,683 323.3%
Criminal Traffic Misdemeanor 41,705 49,000 44,629 2,924 7.0% (4,371) -8.9%
Criminal Non-Traffic Fines 57,438 44,500 53,73b (3,702) -6.4% 9,23b 20.8%
Criminal Costs 5,837 9,600 4,981 (856) -14.7% (4,619) -48.1%
Non-Court Fines & Penalties 13,353 9,200 33,759 20,40b 152.8% 24,559 266.9%
YTD Total 809,596 811,700 1,181,167 371,571 45.9% 369,467 45.5%
Annual Total 1,920,343 1,870,700
10
M®nthly Financial Rep®rt May 2010
Photo Enforcement
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Budget Actual Amount Percentage Amount Percentage
Jan 73,432 101,000 134,182 60,751 82.7% 33,182 32.9%
Feb 62,632 91,900 103,153 40,521 64.7% 11,253 12.2%
Mar 67,543 93,300 118,358 50,815 75.2% 25,058 26.9%
Apr 70,057 91,600 122,490 52,433 74.8% 30,890 33.7%
May 78,746 103,000 117,742 38,996 49.5% 14,742 14.3% Jun 76,980 100,700
Jul 79,382 103,800
Aug 63,225 82,700
Sep 47,897 67,700
Oct 44, 010 62, 600
Nov 74,239 97,100
Dec 102,895 104,600
YTD Total 352,410 480,800 595,926 243,516 69.1% 115,126 23.9%
Annual Total 841,038 1,100,000
Miscellane®us
This revenue source is comprised of interest and other investment earnings, rents, leases &
concessions, contributions & donations and other miscellaneous income. The 2010 budget for
this revenue category is $465,800 and interest & investment and rentals & leases make up 86%
of the annual budget. Decreased interest revenue reflects the decline in the financial markets; the
Local Government Investment Pool interest has decreased from 1.27% in January 2009 to
0.27% in May 2010. The increase in rentals & leases is primarily from Parks facility rentals.
Contributions & donations are high because of unbudgeted employee contributions. Other miscellaneous revenue is budgeted conservatively and year to date receipts are greater than 2009
receipts & 2010 budget due to reimbursements for prior year general fund expenditures.
Miscellaneous Revenues by Type
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Interest & Investments 100,680 95,900 68,514 (32,166) -31.9% (27,386) -28.6°l0
Rents ~ Leases 118,791 93,400 130,961 12,170 10.2% 37,561 40.2°l0
Contributions & Donations 20,069 7,700 22,803 2,734 13.b% 15,103 196.1°l0
Other Miscellaneous Revenue 35,749 20,800 137,811 102,062 285.5% 117,011 562.6°l0
YTD Total 275,289 217,800 360,089 84,800 30.8°l0 142,289 65.3°l0
Annual Total 664,307 465,800
11
M®nthly Financial Rep®rt May 2010
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. At the end of May, year to date revenue of
$473,329 is $22,871 or 4.6% less than the projected budget. This is $43.7K or 10.2% more than
2009 for the same period and reflects the slow recovery in the commercial and residential
market.
Real Estate Excise Tax Revenues
Year to Date through May
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 55,308 63,900 44,219 (11,088) -20.0% (19,681) -30.8% Feb 115,443 133,300 56,636 (58,807) -50.9% (76,664) -57.5%
Mar 114,240 131,900 74,986 (39,254) -34.4% (56,914) -43.1%
Apr 75,831 87,600 89,679 13,848 18.3% 2,079 2.4%
May 68,846 79,500 207,808 138,962 201.8% 128,308 161.4%
Jun 141,704 163,600
Jul 106,672 123,200
Au 115,268 133,100 sep 179,067 206,700
Oct 314,172 362,700
Nov 184,935 213,500
Dec 87,440 101,000
YTD Total 429,668 496,200 473,329 43,661 10.2% (22,871) -4.6%
Annual Total 1,558,926 1,800,000
12
M®nthly Financial Rep®rt May 2010
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.
UVater Sewer Storm Solid Waste Airport Cemetery Golf Comm. Retail
OPERATING REVENUES Charges for services 3,601,491 6,526,422 2,674,385 3,833,702 10,946 305,852 446,295
Rents, Leases, Concessions & Other - 255,659 5,265
TOTAL OPERATING REVENUES 3,601,491 6,526,422 2,674,385 3,833,702 266,605 305,852 451,561 -
OPERATING EXPENSES:
Administration 917,814 718,819 867,533 294,441 208,268 109,389 87,429
Operations & Maintenance 1,834,262 5,409,052 922,875 3,069,626 61 274,943 495,164
Depreciation & Amortization 882,466 576,297 458,057 8,556 90,637 23,833 141,450 25,417
TOTAL OPERATING EXPENSES 3,634,542 6,704,168 2,248,465 3,372,623 298,966 408,165 724,042 25,417
OPERATING INCOME (LOSS) (33,051) (177,746) 425,920 461,079 (32,361) (102,313) (272,482) , (25,417)
NON-OPERATING REVENUES & EXPENSES
:Interest Revenue 19,922 26,123 10,091 1,004 1,178 302: 148
.Other Non Operating Revenue 15,635 3,831 42,173 568 113,559 267 11,008
Other Non Operating Expense (100,000) (100,000) (100,000)
TOTAL NON-OPERATING REVENUES (EXPENSES) (64,443) (70,046) (47,736) 1,571 ~ 114,737 570 11,157 -
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (97,493) (247,792) 378,184 462,650 82,376 (101,743) (261,325) (25,417)
Contributions 185,848 122,484 134,578
Transfers In 36,433
Transfers Out (58,600) (58,200) (62,800) (900)
TOTAL CONTRIBUTIONS & TRANSFERS 127,248 64,284 71,778 (900) - - 36,433 -
CHANGE 1N FUND BALANCE 29,755 (183,508) 449,962 461,750 82,376 (101,743) (224,892) (25,417)
BEGINNING FUND BALANCE, January 1, 2010 58,580,941 64,391,028 39,620,492 1,576,387 9,687,653 1,114,074 5,501,774 1,473,941
ENDING FUND BALANCE, May 31, 2010 58,610,696 64,207,520 40,070,454 2,038,137 9,770,029 1,012,331 5,276,883 1,448,524
Solid Waste operating expenses are low due to timing of invoices form Waste Management.
May billing of $631,557 was posted in June.
Internal Service Funds
13
Monthly Financial Report May 2010
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
OPERATING REVENUES:
Interfund Charges for services - 1,082,310 1,625,865 1,026,051
Rents, teases, Concessions & Other - 52,709 44,672 -
TOTALOPERATING REVENUES - 1,135,019 1,670,537 1,026,051
OPERATING EXPENSES:
Administration 816,779 - 61,695 231,075
Operations & Maintenance - 819,164 1,349,080 491,071 Depreciation & Amortization - - 211,777 440,717
TOTAL OPERATING EXPENSES 816,779 819,164 1,622,552 1,162,863
OPERATING INCOME (LOSS) (816,779) 315,855 47,985 (136,812)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 1,543 538 4,090 5,323
Other Non Operating Revenue - - - 23,372
Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES) 1,543 538 4,090 28,695
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (815,236) 316,393 52,075 (108,117)
Contributions - - 10,950 -
Transfers In 238,600
Transfers Out - - (29,500) (22,400) TOTAL CONTRIBUTIONS & TRANSFERS 238,600 - (18,550) (22,400)
CHANGE IN FUND BALANCE (576,636) 316,393 33,525 (130,517)
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, May 31, 2010 1,657,833 524,030 4,948,370 10,762,422
The Insurance Fund expenses include $816,779 that was paid at the beginning of the year. This
amount will be decreasing throughout the year as the expense is being allocated to the various
departments and funds on a monthly journal entry.
Equipment rental fund balance of $10,762,422 includes over $5.2 million infixed assets net of
depreciation which primarily consist 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.~ov/. For any questions about the report please
contact us at kjester(a~auburnwa.~ov or scoleman(~auburnwa.~ov.
14
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City of Auburn
Investment Portfolio Summary
As of May 31, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 63,783,407 Various 0.27% KeyBank Money Market Various 20,681,258 Various 0.10%
US Treasury 05/04/1990 57,750 05/15/2016 5.72%
FHLB 2/2/2009 1,000,000 2/2/2011 1.540%
FHLB 2/2/2009 1,000,000 8/2/2011 1.840%
FHLB 12/29/2009 1,000,000 6/29/2012 1.375%
FNMA 2/19/2010 1,000,000 2/19/2013 1.500%
FNMA 2/19/2010 1,000,000 2/19/2013 1.500%
FNMA 2/19/2010 1,000,000 2/19/2013 1.500% FHLB 3/24/2010 2, 000, 000 12/24/2012 1.550%
FNMA 3/25/2010 2,000,000 3/25/2013 1.850%
FNMA 5/13/2010 1,725,000 11/13/2011 1.550%
FHLB 5/20/2010 2,500,000 2/20/2013 1.625%
Total Cash & Investments $ 98,747,415 0.430%
Investment Mix % of Total Summary State Investment Pool 64.6% Current 6-month treasury rate 0.22%
KeyBank Money Market 20.9% Current State Pool rate 0.27%
US Treasury 0.1 % KeyBank Money Market 0.10%
FHLB 7.6% Blended Auburn rate 0.43%
FNMA 6.8%
100.0%
16