HomeMy WebLinkAboutJune 2010AGENDA BILL APPROVAL FORM
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Agenda Subject: June 2010 Financial Report Date: 8/11/2010
Department: Finance Attachments: June Monthly Report Budget Impact: 0
Administrative Recommendation:
Background Summary:
The June 2010 status report highlights City revenues and expenditures and is based on financial data available as of July 30, 2010. Sales tax reported in June is for business activities
that occurred in April 2010.
Total General Fund revenues forthe City at the end of June were $25,878,550 which is
approximately 52% of the annual budgeted revenues. Compared to budgeted year-to-date
revenues, total General Fund revenue is $809.7K (3.2%) more due to the timing of receipts of property taxes and intergovernmental revenues coupled with increases in traffic infraction
&
photo enforcement revenues.
Expenditures for the General Fund totaled $23,735,071 which is $3.13M (11.6 under budget
at the end of June. This is primarily due to the timing of utility and intergovernmental payments.
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: August 16, 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 June 2010
General Fund 2010 2010 YTD Budget vs. Actua( Summary of Sources and Uses Favorable (Unfavorable)
Annual Budget YTD Budget YTD Actua( Amount Percentage
®PERATWG REVENUES
Property Tax 12,357,309 6,354,200 6,607,510 253,310 4.0% Sales Tax (1) 14,255,000 7,131,600 7,175,203 43,603 0.6°l0
Sales Tax -Annexation Credit 1,453,500 727,700 666,106 (61,594) -8.5%
Criminal Justice Sales Tax 1,143,300 571,300 617,750 46,450 8.1%
Brokered Natural Gas Tax 260,000 157,500 160,721 3,221 2.0% City Utilities Tax 2,140,200 1,098,900 1,176,160 77,260 7.0°l0
Admissions Tax 400,000 186,800 152,063 (34,737) -18.6%
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 1,934,200 843,500 1,048,429 204,929 24.3%
Garbage Tax (external) 156,000 77,700 76,922 (778) -1.0°l0 Leasehold Excise Tax 80,000 56,600 19,858 (36,742) -64.9%
Gambling Excise Tax 766,500 381,200 178,662 (202,538) -53.1%
Business License Fees 200,000 120,900 40,418 (80,482) -66.6% Building Permits 700,000 333,000 397,068 64,068 19.2%
Other Licenses & Permits 228,800 104,000 184,837 80,837 77.7°l0
Intergovernmental (Grants, etc) 4,524,940 1,804,900 1,987,902 183,002 10.1%
Charges for Services: General Government Services 81,000 44,600 50,184 5,584 12.5°l0
Public Safety 244,000 138,900 124,583 (14,317) -10.3%
Development Services Fees 702,000 402,500 261,443 (141,057) -35.0% Culture and Recreation 789,000 469,300 507,167 37,867 8.1%
Fines and Forfeits 2,107,400 1,047,000 1,385,745 338,745 32.4%
Interests and Other Earnings 170,000 107,200 77,032 (30,168) -28.1%
Rents, Leases and Concessions 243,000 125,200 168,822 43,622 34.8°l0 Contributions and Donations 51,600 17,700 31,576 13,876 78.4%
Other Miscellaneous 46,200 24,000 133,846 109,846 457.7%
Transfers In 61,300 17,000 17,000 - 0.0%
Insurance Recoveries- Capital & Operating 55,000 27,500 24,266 (3,234) -11.8% Total ®perating Revenues 49,866,149 25,068,800 25,878,550 809,750 3.2°l0
®perating Expenditures
Council & Mayor 738,900 381,100 333,574 47,526 12.5% Municipal Court & Probation 3,055,280 1,533,380 1,277,918 255,462 16.7%
Human Resources 736,150 378,550 337,018 41,532 11.0%
Finance 1,170,960 618,060 550,202 67,858 11.0%
City Attorney 1,675,050 910,150 844,338 65,812 7.2% Planning 3,244,570 1,746,770 1,602,799 143,971 8.2%
Community & Human Services 1,070,400 462,900 430,275 32,625 7.0°l0
Police 23,650,215 11,623,915 10,601,680 1,022,235 8.8°l0 Engineering 2,941,610 1,539,010 1,206,889 332,121 21.6%
Parks and Recreation 6,801,200 3,443,500 3,226,066 217,434 6.3%
Streets 3,093,500 1,500,000 1,311,258 188,742 12.6%
Non-Departmental 5,835,100 2,723,900 2,013,055 710,845 26.1% Total ®perating Expenditures 54,012,935 26,861,235 23,735,071 3,126,164 11.6%
(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 $977,540 SST Mitigation the City received from the State for 1St and 2nd quarter of 2010.
2
M®nthly Financial Rep®rt June 2010
Overview
This financial overview reflects the City's overall financial position for the fiscal year through June
30, 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 June, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 79% 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 June is $6,607,510 or 53.5% of the $12,357,509 annual
budget. Compared to 2009, the City collected $1,156,055 or 21.2% more for the same period.
At the end of the June, property tax revenue is $253,310 or 4.0% more than the year to date
budget and is in line with the budget.
Property Tax Revenue
Fear to Date through June
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 76,369 38,606 102.2% 32,369 73.6%
Jul 21,078 24,600
Aug 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 5,451,455 6,354,200 6,607,510 1,156,055 21.2% 253,310 4.0%
Annual Total 10,601,791 12,357,309
3
M®nthly Financial Rep®rt June 2010
Sales Tax
As of the end of June, the year to date sales tax revenue of $7,175,203 is $301.5K more than
2009 and $43.6K more than the current YTD budget. Also at mid year, the City has received
$997,540 of the total anticipated SST mitigation of $1,966,775 for 2010. The actual amount of
Streamlined Sales Tax 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 June
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 1,045,316 (52,722) -4.8% (99,584) -8.7%
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 6,873,654 7,131,600 7,175,203 301,549 4.4% 43,603 0.6%
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 June
2009 2010 Chan a from 2009
Component Group Actual Aetual Amount Percenta e
New Construction 640,220 585,462 (54,758) -8.6%
Manufacturing 209,223 192,461 (16,762) -8.0%
Transportation & Warehousing 15,083 15,247 164 1.1%
Wholesale Trade 520,540 545,583 25,043 4.8% Automotive 1,159,817 1,202,791 42,974 3.7%
Retail Trade 1,846,767 1,793,860 (52,907) -2.9%
Services 1,462,065 1,808,220 346,155 23.7%
Miscellaneous 19,350 84,542 65,192 336.9%
YTD Total 5,873,065 6,228,166 355,101 6.0%
4
M®nthly Financial Rep®rt June 2010
Utilit Tax
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 $4,521,751 which is $632.3K (12.3%) 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 $43.9K or 1.0%
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 was included in the mid year budget amendment and is reflected in this report.
Utility Tax Revenues
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 1,329,027 1,198,800 1,258,792 (70,236) -5.3% 59,992 5.0%
Feb 592,186 482,100 483,456 (108,730) -18.4% 1,356 0.3%
Mar 304,496 223,800 416,213 111,717 36.7% 192,413 86.0%
Apr 1,911,964 1,758,200 1,505,874 (406,090) -21.2% (252,326) -14.4%
May 575,114 469,900 492,247 (82,867) -14.4% 22,347 4.8%
Jun 441,229 345,000 365,171 (76,058) -17.2% 20,171 5.8% Jul 1,340,355 1,204,500
Au 621,691 504,300
Sep 453,881 357,300
Oct 1,123,629 987,100
Nov 516,516 433,900
Dec 376,459 305,100
YTD Total 5,154,016 4,477,800 4,521,751 (632,265) -12.3% 43,951 1.0%
Annual Total 9,586,547 8,270,000
The following table presents utility tax by source:
Utilty Tax by Type
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
City lnterfund Utility Taxes 1,57b,918 1,098,900 1,176,1b0 (400,758) -25.4% 77,2b0 7.0%
Electric 1,639,293 1,526,200 1,586,935 (52,358) -3.2% 60,735 4.0%
Natural Gas 828,684 834,200 b33,305 (195,379) -23.6% (200,895) -24.1%
Telephone 1,033,618 940,800 1,048,429 14,811 1.4% 107,629 11.4%
Solid UVaste 75,503 77,700 76,922 1,419 1.9% (778) -1.0%
YTD Total 5,154,016 4,477,800 4,521,751 (632,265) -12.3% 43,951 1.0%
Annual Total 9,586,547 8,270,000
5
M®nthly Financial Rep®rt June 2010
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.
Cable T~1 Franchise Fee
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta 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 - - - - N/A - N/A
Jul 186,766 169,200
Au - -
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 June, the City has collected 48.6% 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 and the following tables present detail
information for each.
Building Permits
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta 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 74,701 (83,404) -52.8% 24,901 50.0%
Jul 90,765 62,900
Aug 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 369,944 333,000 397,068 27,124 7.3% 64,068 19.2%
Annual Total 835,478 700,000
6
M®nthly Financial Rep®rt June 2010
Total building permit revenues at the end of June were $397,068. This was $27K greater than
2009 for the same period and $64K or 19.2% more than budgeted revenues. The increase from
2009 is primarily due to the developments at Trail Run and North Tapps Estates.
Business License revenues at the end of June are $85.9K or 68.0% less than 2009 and $80.5K or
66.6% less than 2010 year to date budget. This revenue source is low due to a change in timing
of payments. In prior years, payments made mid year were fora 12 month period. In 2010
these payments are only for the last 6 months of the year. Business license fees will be billed
again in December to cover a full year in 2011.
Business License
Year to Date through June
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°l0 542 14.3%
May 4,289 4,200 1,987 (2,303) -53.7% (2,214) -52.7% Jun 102,500 98,000 22,171 (80,330) -78.4% (75,830) -77.4%
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 126,331 120,900 40,418 (85,913) -68.0% (80,482) -66.6%
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. At the end of June
revenues
are less than 2009 because the quarterly revenue for the Muckleshoot compact has not been
received as it is currently being negotiated. Timing of grant revenue varies as they are processed
on a reimbursement basis.
Intergovernmental
Year to Date through June
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual °lo Chan e °lo Chan e
Federal Grants 33,138 105,900 190,354 474.4% 79.7%
State Grants 40,662 27,800 52,824 29.9% 90.0%
lnterlocal Grants 25,433 62,000 96,758 280.4% 56.1%
State Shared Revenue 1,212,895 1,277,100 1,279,736 5.5% 0.2%
Muckleshoot Casino Emer . 691,455 484,200 368,231 -46.7% -24.0%
YTD Total 2,003,585 1,957,000 1,987,902 -0.8% 1.6%
Annual Total 4,499,411 4,524,940
YTD % 45% 43% 44%
7
M®nthly Financial Rep®rt June 2010
Total state shared revenues are greater than 2009 for the same period due to the increased
Motor Vehicle Fuel Tax revenues. Compared to budget, revenues are greater by $2,636 or
0.2%. Income from Criminal Justice-Special programs and State DUl were budgeted
conservatively and contributed to the overall increase.
State Shared Revenues Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual bud et Actual Amount Percenta a Amount Percenta e
Trial Court Improvements 12,395 16,700 11,360 (1,035) -8.35% (5,340) -31.98%
Court inter reter Pro ram 10,205 - - (10,205) -100.00% - N/A
Motor Vehicle Fuel Tax 681,766 713,100 694,162 12,397 1.8% (18,938) -2.7%
Criminal Justice -Population 32,452 33,600 34,040 1,588 4.9% 440 1.3% Criminal Justice -Spec. Prog. 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%
Fire Insurance Premium Tax 59,677 60,000 63,545 3,868 6.5% 3,545 5.9%
Li uor Excise Tax 162,338 162,900 167,432 5,094 3.1% 4,532 2.8% Li uor Profits 221,223 272,700 274,901 53,678 24.3% 2,201 0.8%
YTD Total 1,212,895 1,277,100 1,279,736 66,841 5.5% 2,636 0.2%
Annual 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 $1,816,000 annual budget for this category and are presented
following the Charges for Service table below. At the end of June $943,377 or 51.9% 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 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 included a reduction for City of Algona court
charges as the City of Auburn is 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 $103.9K of the $124.6K received to date for this category and is
10.3% less than budgeted revenues as of the end of June.
Charges for Services by Type
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
General Government 63,614 44,600 50,184 (13,430) -21.11% 5,584 12.52%
Public Safety 143,140 138,900 124,583 (18,557) -13.0% (14,317) -10.3%
Development Services 283,460 402,500 261,443 (22,017) -7.8% (141,057) -35.0%
Culture & Recreation 495,000 469,300 507,167 12,167 2.5% 37,867 8.1%
YTD Total 985,214 1,055,300 943,377 (41,837) -4.2% (111,923) -10.6%
Annual Total 1,683,495 1,81b,000
8
M®nthly Financial Rep®rt June 2010
Development Services include Engineering fees, zoning & subdivision fees and plan check fees. At
the end of June, year to date revenues totaled $261,443 and is 7.8% or $22K less for the same
period in 2009. This is mainly the result of increased revenues in June 2009 due to zoning and
subdivision fees related to the Kersey 3 development and plan check fees for the Kersey 3 water
pump station. Total development service revenue is less than the budget for the year by $141 K
or 35.0% due to lower than anticipated engineering fees revenue. V(le will continue to monitor
this revenue source to verify if it is in line with the budget.
Development Service Fees
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 51,833 73,600 39,755 (12,078) -23.3% (33,845} -46.0% Feb 46,818 66,500 53,677 6,859 14.7% (12,823) -19.3%
Mar 29,147 41,400 82,904 53,757 184.4% 41,504 100.3%
Apr 45,238 64,200 28,762 (16,476) -36.4% (35,438} -55.2%
May 23,450 33,300 18,069 (5,381} -22.9% (15,231} -45.7%
Jun 86,974 123,500 38,276 (48,698} -56.0% (85,224) -69.0%
Jul 42,644 60,500 Au 53,060 75,300
Sep 32,404 46,000
Oct 15,079 21,400
Nov 26,650 37,800
Dec 41,227 58,500
YTD Total 283,460 402,500 261,443 (22,017) -7.8% (141,057} -35.0%
Annual Total 494,524 702,000
Culture & Recreation revenues consist of theater ticket sales, recreational classes, arts commission
and senior citizen program fees. Total revenue at the end of June shows an increase of $12K
from 2009 and $37.8K greater than 2010 YTD budget. This is mainly due to success of the youth
theater and the day camp programs.
Culture & Recreation
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 71,561 67,900 65,917 (5,644) -7.9% (1,983) -2.9% Feb 51,878 49,200 57,959 6,081 11.7% 8,759 17.8%
Mar 124,525 118,100 133,930 9,405 7.6% 15,830 13.4%
Apr 81,520 77,200 69,877 (11,643) -14.3% (7,323) -9.5%
May 75,505 71,600 70,119 (5,386) -7.1% (1,481) -2.1%
Jun 90,011 85,300 109,364 19,353 21.5% 24,064 28.2% Jul 77,622 73,600
Aug 66,639 63,200
Sep 61,305 58,100
Oct 41,086 39,000
Nov 44,066 41,800 Dec 46,428 44,000
YTD Total 495,000 469,300 507,167 12,167 2.5% 37,867 8.1%
Annual Total 832,146 789,000
9
M®nthly Financial Rep®rt June 2010
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 $407,868 or
41.7% greater than 2009 for the same period and $295,545 or 27.1% higher than the projected
budget. The overall increase is primarily due to the rise in the traffic infraction and photo
enforcement revenues. Civil penalties and Traffic infractions revenue were also budgeted
conservatively and contributed to the overall increase between the year to date actual revenues
and budget.
Fines & Forfeits by Month
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Jan 148,141 173,900 236,675 88,534 59.8% 62,775 36.1%
Feb 153,213 179,200 223,295 70,082 45.7% 44,095 24.6%
Mar 168,348 190,800 252,739 84,391 50.1% 61,939 32.5%
Apr 165,420 177,100 239,856 74,436 45.0% 62,756 35.4%
May 174,475 187,700 228,603 54,128 31.0% 40,903 21.8%
Jun 168,280 181,500 204,577 36,297 21.6% 23,077 12.7% Jul 159,112 183,500
Au 144,593 164,000
Sep 163,212 147,000
Oct 143,517 150,300
Nov 167,497 173,800
Dec 212,349 198,600
YTD Total 977,877 1,090,200 1,385,745 407,868 41.7% 295,545 27.1%
Annual Total 1,968,157 2,107,400
Fines & Forfeits by Type
Year to Date through June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Civil Penalties 10,018 7,000 12,458 2,440 24.4% 5,458 78.0%
Civil Infraction Penalties 322,301 233,200 417,561 95,261 29.6% 184,361 79.1%
Red Light Photo Enforcement 429,390 581,500 694,128 264,738 b1.7% 112,628 19.4%
Parking Infractions 74,643 83,500 97,981 23,338 31.3% 14,481 17.3%
Criminal Traffic Misdemeanor 50,456 59,300 53,381 2,925 5.8°l0 (5,919) -10.0%
Criminal Non-Traffic Fines 68,772 53,300 63,257 (5,515) -8.0% 9,957 18.7%
Criminal Costs 7,603 12,400 6,312 (1,290) -17.0% (6,088) -49.1% Non-Court Fines & Penalties 14,694 60,000 40,666 25,972 17b.8% (19,334) -32.2%
YTD Total 977,875 1,090,200 1,385,745 407,869 41.7% 295,545 27.1%
Annual Total 1,920,343 2,107,400
10
M®nthly Financial Rep®rt June 2010
Photo Enforcement
Year to Date through June
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 98,202 21,222 27.6% (2,498) -2.5%
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 429,390 581,500 694,128 264,738 61.7% 112,628 19.4%
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 $510,800 and interest & investment and rentals & leases make up 81% 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
0.30% in June 2010. The increase in rentals & leases is primarily from Parks facility rentals.
Contributions & donations are high because of increases in the Parks contributions and donations account that fund parks special programs such as the senior wellness and teen programs.
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 June
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Interest & Investments 112,594 107,200 77,032 (35,562) -31.6% (30,168) -28.1%
Rents 6~ Leases 146,212 125,200 168,822 22,610 15.5% 43,622 34.8%
Contributions 6~ Donations 35,316 17,700 31,576 (3,740) -10.6% 13,876 78.4%
Other Miscellaneous Revenue 41,257 24,000 133,846 92,589 224.4°l0 109,846 457.7%
YTD Total 335,379 274,100 411,276 75,897 22.6% 137,176 50.0%
Annual Total 664,307 510,800
11
M®nthly Financial Rep®rt June 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. In June, year to date revenue of $626,763 is $33K
or 5.0% less than the projected budget. This is $55.4K or 9.7% 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 June
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 141,704 163,600 153,434 11,730 8.3% (10,166) -6.2%
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 571,372 659,800 626,763 55,391 9.7% (33,037) -5.0%
Annual Total 1,558,926 1,800,000
12
M®nthly Financial Rep®rt June 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.
Water Sewer Storm Solid Waste Airport Cemetery Golf Comm. Retail
OPERATING REVENUES Charges for services 4,320,632 7,815,538 3,194,963 4,613,017 13,161 346,441 618,112
Rents, Leases, Concessions & Other - 272 308,891 5,265
TOTAL OPERATING REVENUES 4,320,632 7,815,810 3,194,963 4,613,017 322,052 346,441 623,378
OPERATING EXPENSES:
Administration 1,172,425 884,944 1,079,969 362,370 245,249 136,284 105,008
Operations & Maintenance 2,149,054 6,454,122 1,105,693 3,818,756 66 328,567 595,437
Depreciation & Amortization 1,058,722 690,759 548,914 10,267 108,765 28,599 169,912 30,500
TOTAL OPERATING EXPENSES 4,380,201 8,029,825 2,734,577 4,191,393 354,079 493,451 870,357 30,500
OPERATING INCOME (LOSS) (59,568) (214,015) 460,385 421,624 (32,028) (141,010) (246,980) (30,500)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 21,524 28,003 11,017 1,230 1,490 354 176
Other Non Operating Revenue 12,988 3,831 82,287 568 113,609 307 12,757
Other Non Operating Expense (135,257) (120,045) (100,000) (28,938) (11,134) (99,297)
TOTAL NON-OPERATING REVENUES (EXPENSES) (100,745) (88,212) (6,696) 1,797 86,162 (10,472) (86,365) -
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (160,313) (302,227) 453,689 423,421 54,134 (157,482) (333,345) (30,500)
Contributions 253,720 134,214 141,550
Transfers In 41,797
Transfers Out (58,600) (58,200) (62,800) (900)
TOTAL CONTRIBUTIONS & TRANSFERS 195,120 76,014 78,750 (900) - - 41,797
CHANGE IN FUND BALANCE 34,807 (226,213) 532,439 422,521 54,134 (157,482) (291,548) (30,500)
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, June 30, 2010 58,615,748 64,164,815 40,152,931 1,998,908 9,741,788 956,592 5,210,226 1,443,441
Solid Waste operating expenses are low due to timing of invoices from Waste Management.
June billing of $661,209 was posted in July.
13
M®nthly Financial Rep®rt June 2010
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
OPERATING REVENUES:
Interfund Charges for services - 1,298,772 1,951,038 1,234,244
Rents, Leases, Concessions & Other - 58,201 46,696 - TOTALOPERATING REVENUES - 1,356,973 1,997,734 1,234,244
OPERATING EXPENSES: Administration 714,515 - 74,034 279,123
Operations & Maintenance - 967,032 1,622,599 604,190
Depreciation & Amortization - - 245,165 525,183
TOTAL OPERATING EXPENSES 714,515 967,032 1,941,799 1,408,496
OPERATING INCOME (LOSS) (714,515) 389,941 55,935 (174,252)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 1,970 709 5,097 6,669 Other Non Operating Revenue - - - 23,644
Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES) 1,970 709 5,097 30,313
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (712,545) 390,651 61,033 (143,939)
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 (473,945) 390,651 42,483 (166,339)
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, June 30, 2010 1,760,524 598,288 4,957,328 10,726,600
The Insurance Fund expenses include $615,502 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 $10,726,600 includes over $5.1 million infixed assets net of
depreciation which primarily consist of the City's fleet vehicles.
C®ntact Informati®n
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: htt ://www.auburnwa.~ov/. For any questions about the report please
contact us at kjester(~auburnwa.~ov or scoleman(~auburnwa.~ov.
14
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City of Auburn
Investment Portfolio Summary
As of June 30, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 73,801,688 Various 0.30% KeyBank Money Market Various 5,355,831 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 12/29/2009 1,000,000.00 6/29/2012 1.375%
FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500%
FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500%
FNMA 2/19/2010 1,000,000.00 2/19/2013 1.500% 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 $ 96,440,269 0.530%
Investment Mix % of Total Summary State Investment Pool 76.5% Current 6-month treasury rate 0.22%
KeyBank Money Market 5.6% Current State Pool rate 0.30%
US Treasury 0.1 % KeyBank Money Market 0.10%
FHLB 7.8% Blended Auburn rate 0.53%
FNMA 8.0%
FHLMC 2.1%
100.0%
16