HomeMy WebLinkAboutAugust 2010AGENDA BILL APPROVAL FORM
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Agenda Subject: August 2010 Financial Report Date: 10/15/2010
Department: Finance Attachments: August Monthly Budget Impact: 0 Report
Administrative Recommendation:
Background Summary:
The August 2010 status report highlights City revenues and expenditures and is based on financial data available as of September 30, 2010. Sales tax reported in August is for business
activities that occurred in June 2010.
Total General Fund revenues for the City at the end of August were $33,737,150 which is
approximately 68% of the annual budgeted revenues. This includes $327,796 adjustment for
Streamlined Sales Tax mitigation for July & August that is anticipated to be received as part of
the quarterly payment in September. Compared to budgeted year-to-date revenues, total General Fund revenue is $1.29M (4.0%) more primarily due to the receipt of proceeds from
general long term debt of $1,069,000 resulting from the Valley Communications bond refunding
that will be included in the next budget amendment.
Expenditures for the General Fund totaled $32,811,521 which is $2.849M (8.0%) under budget
at the end of August. This is due to the timing of utility and intergovernmental payments along with debt service that are paid later in the year.
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: October 18, 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 August 2010
General Fund 2010 2010 YTD Budget vs. Actual Summary of Sources and Uses Favorable (Unfavorable)
Annual Budget YTD Budget YTD Actual Amount Percentage
®PERATING REVENUES
Property Tax 12,357,309 6,416,800 6,691,028 274,228 4.3% Sales Tax (1) 14,255,000 9,614,600 9,584,178 (30,422) -0.3%
Sales Tax -Annexation Credit 1,453,500 973,000 911,604 (61,396) -6.3%
Criminal Justice Sales Tax 1,143,300 761,500 826,625 65,125 8.6% Brokered Natural Gas Tax 260,000 187,600 197,533 9,933 5.3%
City Utilities Tax 2,140,200 1,499,100 1,579,941 80,841 5.4%
Admissions Tax 400,000 313,400 265,568 (47,832) -15.3% Electric Tax 2,794,100 2,184,500 2,305,154 120,654 5.5%
Natural Gas Tax 1,245,500 1,125,600 867,960 (257,640) -22.9%
Cable TV Franchise Fee 676,300 506,900 582,815 75,915 15.0%
Telephone Tax 1,934,200 1,274,700 1,434,509 159,809 12.5% Garbage Tax (external) 156,000 102,700 95,548 (7,152) -7.0%
Leasehold Excise Tax 80,000 68,200 20,686 (47,514) -69.7%
Gambling Excise Tax 466,500 368,100 195,762 (172,338) -46.8% Business License Fees 200,000 179,400 107,782 (71,618) -39.9%
Building Permits 700,000 492,100 531,028 38,928 7.9%
Other Licenses & Permits 228,800 148,500 229,663 81,163 54.7%
Intergovernmental (Grants, etc) 4,524,940 2,716,655 2,556,802 (159,853) -5.9% Charges for Services:
General Government Services 81,000 57,000 68,911 11,911 20.9%
Public Safety 244,000 179,700 154,863 (24,837) -13.8% Development Services Fees 702,000 538,300 375,689 (162,611) -30.2%
Culture and Recreation 789,000 606,100 673,013 66,913 11.0%
Fines and Forfeits 2,107,400 1,437,700 1,782,470 344,770 24.0% Interests and Other Earnings 170,000 135,400 103,981 (31,419) -23.2%
Rents, Leases and Concessions 543,000 163,600 224,073 60,473 37.0%
Contributions and Donations 51,600 29,200 43,437 14,237 48.8%
Other Miscellaneous 46,200 30,900 148,156 117,256 379.5% Proceeds of Gen. Long Term Debt-Refi Valley Com - - 1,069,000 1,069,000 N/A
Transfers In 61,300 61,300 61,300 - 0.0%
Insurance Recoveries- Capital & Operating 55,000 36,700 48,070 11,370 31.0% Total ®perating Revenues 49,866,149 32,209,255 33,737,150 1,527,895 4.7%
®perating Expenditures
Council & Mayor 738,900 498,000 443,441 54,559 11.0%
Municipal Court & Probation 3,055,280 2,033,180 1,761,213 271,967 13.4% Human Resources 736,150 510,650 458,109 52,541 10.3%
Finance 1,170,960 775,960 734,598 41,362 5.3%
City Attorney 1,675,050 1,163,450 1,080,301 83,149 7.1% Planning 3,587,170 2,453,670 2,170,563 283,107 11.5%
Community & Human Services 1,070,400 684,600 599,249 85,351 12.5%
Police 23,650,215 15,149,315 14,001,355 1,147,960 7.6% Engineering 2,599,010 1,776,910 1,597,013 179,897 10.1%
Parks and Recreation 6,801,200 4,501,700 4,403,329 98,371 2.2%
Streets 3,093,500 1,953,500 1,752,089 201,411 10.3%
Non-Departmental 7,190,700 4,156,000 3,810,263 345,737 8.3% Total ®perating Expenditures 55,368,535 35,656,935 32,811,521 2,845,414 8.0%
(1J The anticipated Streamlined Sales Tax Mitigation for 2010 is $1,966,775. 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 plus
$327,796 anticipated for July & August.
2
M®nthly Financial Rep®rt August 2010
Overview
This financial overview reflects the City's overall financial position for the fiscal year through
August 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 August, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 76% 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 August is $6,691,028 or 54.1% of the $12,357,509 annual
budget. Compared to 2009, the City collected $1,185,863 or 21.5% more for the same period.
At the end of the August, property tax revenue is $274,228 or 4.3% more than the year to date
budget and is in line with the budget.
Property Tax Revenue
Year to Date through August
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 29,190 8,112 38.5% 4,590 18.7%
Aug 32,632 38,000 54,328 21,696 66.5% 16,328 43.0%
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 5,505,164 6,416,800 6,691,028 1,185,863 21.5% 274,228 4.3%
Annual Total 10,601,791 12,357,309
3
M®nthly Financial Rep®rt August 2010
Sales Tax
At the end of August, the year to date sales tax revenue of $9,584,178 is $307.5K more than
2009 and $30.4K less 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 current report total
includes an estimated $327,796 prorated share for July & August of the quarterly payment that
will be received in September. 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 August
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°l0 (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 1,105,463 (47,276) -4.1% (74,837) -6.3%
Au 1,250,264 1,302,700 1,303,513 53,248 4.3% 813 0.1%
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 9,276,657 9,614,600 9,584,178 307,521 3.3% (30,422) -0.3%
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 August
2009 2010 Chan a firom 2009
Com onent Grou Actual Actual Amount Percenta e
New Construction 881,315 792,213 (89,102) -10.1%
Manufacturin 281,771 261,524 (20,247) -7.2%
Transportation & Warehousin 23,771 19,768 (4,003) -16.8%
Wholesale Trade 693,981 739,920 45,939 6.6%
Automotive 1,619,431 1,636,143 16,712 1.0%
Retail Trade 2,430,929 2,387,955 (42,974) -1.8%
Services 1,963,739 2,368,540 404,801 20.6%
Miscellaneous 26,779 94,871 68,092 254.3%
YTD Total 7,921,716 8,300,934 379,218 4.8%
4
M®nthly Financial Rep®rt August 2010
Utilit Tax
This revenue source consists of City inter-fund utility taxes (1XJater, Sewer, Storm and Solid Waste)
and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility
tax revenue is $6,283,112 which is $832.9K (11.7%) 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 $96.5K or 1.6% 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 August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Arnount Percenta a Arnount 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 1,303,301 (37,054) -2.8% 98,801 8.2%
Aug 621,691 504,300 458,060 (163,631) -26.3% (46,240) -9.2%
Sep 453,881 357,300
Oct 1,123,629 987,100
Nov 516,516 433,900
Dec 376,459 305,100
YTD Total 7,116,062 6,186,600 6,283,112 (832,950) -11.7% 96,512 1.6%
Annual Total 9,586,547 8,270,000
The following table presents utility tax by source:
Utilty Tax by Type
Year to Date through August
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 2,151,174 1,499,100 1,579,941 (571,233) -26.6% 80,841 5.4%
Electric 2,346,398 2,184,500 2,305,154 (41,245) -1.8% 120,654 5.5%
Natural Gas 1,118,118 1,125,600 867,960 (250,158) -22.4% (257,b40) -22.9%
Telephone 1,400,570 1,274,700 1,434,509 33,939 2.4% 159,809 12.5%
Solid 1Xlaste 99,802 102,700 95,548 (4,254) -4.3% (7,152) -7.0%
YTD Total 7,116,062 6,186,600 6,283,112 (832,950) -11.7% 96,512 l.b%
Annual Total 9,586,547 8,270,000
5
M®nthly Financial Rep®rt August 2010
Cable TV Franchise Fees are received quarterly and are shown on the table below. This is
$23.4K or 4.2% more than the previous year for the same period and is $75.9K or 15.0%
greater than the 2010 year to date budget.
Cable TV Franchise Fee
Year to Date through August
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 186,766 169,200 195,778 9,012 4.8% 26,578 15.7%
Aug - - - - N/A - N/A
Sep - -
Oct 186,910 169,400
Nov - - Dec - -
YTDTotal 559,370 506,900 582,815 23,445 4.2% 75,915 15.0%
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 August, the City has collected 76.9% 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 August
2009 2010 2010 2010 vs. 2009 2010 vs. Budget
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 72,745 (18,020) -19.9% 9,845 15.7%
Aug 54,856 96,200 61,216 6,360 11.6% (34,984) -36.4%
Sep 42,615 68,300
Oct 83,041 45,300
Nov 56,606 38,200
Dec 137,651 56,100
YTD Total 515,565 492,100 531,028 15,463 3.0% 38,928 7.9%
Annual Total 835,478 700,000
6
M®nthly Financial Rep®rt August 2010
Total building permit revenues at the end of August were $531,028. This was $15.4K greater
than 2009 for the same period and $38.9K or 7.9% more than budgeted revenues in 2010. The
temporary increase in June & July of 2009 is primarily due to the developments at Trail Run and
North Tapps Estates.
Business License revenues at the end of August were $79.7K or 42.5% less than 2009 and $71.6K
or 39.9% less than the 2010 year to date budget. This revenue source is lower in comparison to
2009 and the year to date budget due to a change in timing of payments. In prior years,
payments received 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 August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Arnount 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 22,171 (80,330) -78.4% (75,830) -77.4%
Jul 49,110 47,000 53,961 4,851 9.9% 6,961 14.8% Au 12,061 11,500 13,403 1,342 11.1% 1,903 16.5%
Sep 6,271 6,000
Oct 6,277 6,000
Nov 5,229 5,000
Dec 3,810 3,600
YTD Total 187,502 179,400 107,782 (79,720) -42.5% (71,618) -39.9%
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. At the end of August
Intergovernmental revenues are less than 2009 and YTD budget 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 August
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual °lo Chan e °lo Chan e
Federal Grants 51,478 173,800 330,340 541.7% 90.1%
State Grants 87,878 56,600 79,925 -9.0% 41.2%
lnterlocal Grants 202,088 93,600 105,871 -47.6% 13.1%
State Shared Revenue 1,581,649 1,650,555 1,672,435 5.7% 1.3% Muckleshoot Casino Emer . 1,059,688 742,100 368,231 -65.3% -50.4%
YTD Total 2,982,781 2,716,655 2,556,802 -14.3% -5.9%
Annual Total 4,499,411 4,524,940
YTD % 66% 60% 57%
7
M®nthly Financial Rep®rt August 2010
Total state shared revenues are greater than 2009 for the same period and to 2010 YTD budget
due to higher liquor profits and the new revenue source for Criminal Justice-High crime. Based
on crime statistics, beginning on July 2010 the City will receive this revenue in place of Criminal
Justice- population.
State Shared Revenues
Year to Date through August 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 16,999 4,604 37.14% 299 1.79% Court Interpreter Program 10,205 - - (10,205) -100.00% - N/A
Motor Vehicle Fuel Tax 940,766 983,855 944,942 4,176 0.4% (38,913) -4.0%
Criminal Justice -High Crime - - 37,276 37,276 N/A 37,276 N/A
Criminal Justice -Population 49,605 51,300 37,878 (11,727) -23.6% (13,422) -26.2%
Criminal Justice -Spec. Prog. 41,050 24,600 42,497 1,448 3.5% 17,897 72.8% State DUl 9,138 3,000 9,409 271 3.0% 6,409 213.6%
Fire Insurance Premium Tax 59,677 60,000 63,545 3,868 6.5% 3,545 5.9%
Liquor Excise Tax 237,591 238,400 244,986 7,396 3.1% 6,586 2.8%
Liquor Profits 221,223 272,700 274,901 53,678 24.3% 2,201 0.8%
YTD Total 1,581,649 1,650,555 1,672,435 90,786 5.7% 21,880 1.3%
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 August $1,272,477 or 70% 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 since 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; overall
this revenue source is 13.8% less than budget at the end of August due to decreased probation
revenues. Probation fees account for $127.9K of the $154.9K received to date for this category.
Charges for Services by Type
Year to Date through August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
General Government 77,848 57,000 68,911 (8,937) -11.48% 11,911 20.90% Public Safety 185,229 179,700 154,863 (30,365) -16.4% (24,837) -13.8%
Development Services 379,164 538,300 375,689 (3,475) -0.9% (162,611) -30.2%
Culture & Recreation 639,261 606,100 673,013 33,752 5.3% 66,913 11.0%
Liquor Profits 221,223 272,700 274,901 53,678 24.3% 2,201 0.8%
YTD Total 1,281,502 1,381,100 1,272,477 (9,025) -0.7% (108,623) -7.9%
Annual Total 1,683,495 1,816,000
8
M®nthly Financial Rep®rt August 2010
Development Services include Engineering fees, zoning & subdivision fees and plan check fees. At
the end of August, year to date revenues totaled $375,689 and is 0.9% or $3.5K 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
$162.6K or 30.2% due to lower than anticipated engineering fees and plan check fee revenues.
VVe will continue to monitor these revenue sources and adjust budget as needed.
Development Service Fees
Year to Date through August
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 43,402 758 1.8% (17,098) -28.3% Au 53,060 75,300 70,844 17,784 33.5% (4,456} -5.9%
Sep 32,404 46,000
Oct 15,079 21,400
Nov 26,650 37,800
Dec 41,227 58,500
YTD Total 379,164 538,300 375,689 (3,475) -0.9% (162,611) -30.2%
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 August shows an increase of $33.8K
from 2009 and $66.9K greater than 2010 YTD budget. August increases are mainly due to
success of the youth theater, teen and day camp programs.
Culture & Recreation
Year to Date through August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Pereenta 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 89,315 11,693 15.1% 15,715 21.4%
Aug 66,639 63,200 76,531 9,892 14.8% 13,331 21.1%
Sep 61,305 58,100
Oct 41,086 39,000 Nov 44,066 41,800
Dec 46,428 44,000
YTD Total 639,261 606,100 673,013 33,752 5.3% 66,913 11.0%
Annual Total 832,146 789,000
9
M®nthly Financial Rep®rt August 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 $500,888 or
39.1% greater than 2009 for the same period and $344,770 or 24% higher than the projected
budget. The overall increase is primarily due to the rise in the traffic infraction and photo
enforcement revenues. Criminal non-traffic fees and Traffic infraction revenues 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 August
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 159,112 183,500 219,109 59,997 37.7% 35,609 19.4%
Au 144,593 164,000 177,615 33,022 22.8% 13,615 8.3%
Sep 135,201 147,000
Oct 140,945 150,300
Nov 151,870 173,800
Dec 210,746 198,600
YTD Total 1,281,582 1,437,700 1,782,470 500,888 39.1% 344,770 24.0%
Annual Total 1,920,344 2,107,400
Fines & Forfeits by Type
Year to Date through August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Civil Penalties 14,270 9,900 15,742 1,472 10.3% 5,842 59.0%
Civil Infraction Penalties 421,829 305,200 528,080 10b,251 25.2% 222,880 73.0%
Red Light Photo Enforcement 571,996 7b8,000 891,790 319,793 55.9% 123,790 16.1%
Parking Infractions 95,929 107,300 131,198 35,268 3b.8% 23,898 22.3%
Criminal Traffic Misdemeanor 62,874 74,000 67,871 4,997 7.9°l0 (6,129) -8.3%
Criminal Non-Traffic Fines 86,204 6b,900 79,209 (b,99b) -8.1% 12,309 18.4%
Criminal Costs 9,051 14,800 8,263 (788) -8.7% (6,537) -44.2% Non-Court Fines & Penalties 19,426 91,600 60,318 40,892 210.5°l0 (31,283) -34.2%
YTD Total 1,281,583 1,437,700 1,782,470 500,889 39.1% 344,770 24.0%
Annual Total 1,920,344 2,107,400
10
M®nthly Financial Rep®rt August 2010
Photo Enforcernent
Year to Date through August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
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 79,382 103,800 122,177 42,795 53.9% 18,377 17.7%
Aug 63,225 82,700 75,485 12,260 19.4% (7,215) -8.7%
Sep 47,897 67,700
Oct 44,010 62,600
Nov 74, 2 3 9 9 7,100
Dec 102,895 104,600
YTD Total 571,996 768,000 891,790 319,793 55.9% 123,790 16.1%
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 $810,800 and interest & investment and rentals & leases make up 85% 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 August 2010. The increase in rentals & leases is primarily from Parks facility rentals. Contributions & donations are higher than YTD budget 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 August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Interest & Investments 142,251 135,400 103,981 (38,270) -26.9°l0 (31,419) -23.2% Rents ~ Leases 191,014 163,b00 224,073 33,059 17.3°l0 60,473 37.0%
Contributions ~ Donations 65,730 29,200 43,437 (22,293) -33.9°l0 14,237 48.8%
Other Miscellaneous Revenue 52,993 30,900 148,156 95,163 179.6°l0 117,256 379.5%
YTD Total 451,988 359,100 519,648 67,660 15.0°l0 160,548 44.7%
Annual Total 664,307 810,800
11
M®nthly Financial Rep®rt August 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 August, year to date revenue of $791,036 is
$125K or 13.7% less than the projected budget. This is $2.2K or 0.3% less than 2009 for the
same period and the recent drop in revenues for August is indicative of the lagging recovery in
the commercial and residential market.
Real Estate Excise Tax Revenues
Year to Date through August
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Budget Actual Amount Percentage Amount Percentage
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 106,672 123,200 114,879 8,208 (8,321) -6.8%
Aug 115,268 133,100 49,393 (65,875) -57.1% (83,707) -62.9% sep 179,067 206,700
Oct 314,172 362,700
Nov 184,935 213,500
Dec 87,440 101,000
YTD Total 793,312 916,100 791,036 (2,276) -0.3% (125,064) -13.7%
Annual Total 1,558,926 1,800,000
12
M®nthly Financial Rep®rt August 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 5,944,080 10,498,441 4,269,858 6,120,849 18,013 493,578 1,091,560
Rents, Leases, Concessions & Other - 272 272 - 417,142 949 19,676
TOTAL OPERATING REVENUES 5,944,080 10,498,713 4,270,130 6,120,849 435,155 494,527 1,111,236
OPERATING EXPENSES:
Administration 1,556,885 1,179,656 1,428,189 484,297 316,362 180,214 140,042
Operations & Maintenance 2,891,648 8,571,999 1,559,615 5,397,292 97 439,594 813,837
Depreciation & Amortization 1,411,208 918,593 728,994 13,690 145,020 38,132 225,492 33,328
TOTAL OPERATING EXPENSES 5,859,741 10,670,248 3,716,798 5,895,279 461,479 657,940 1,179,371 33,328
OPERATING INCOME (LOSS) 84,339 (171,535) 553,332 225,570 (26,324) (163,413) (68,135) (33,328)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 34,195 51,393 13,718 1,785 2,412 494 372
Other Non Operating Revenue 30,336 3,831 82,015 9,357 113,809 307 2,745
Other Non Operating Expense (135,257) (120,045) (100,000) - (28,938) (11,134) (99,297)
TOTAL NON-OPERATING REVENUES (EXPENSES) (70,726) (64,821) (4,267) 11,142 87,284 (10,333) (96,180)
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS 13,613 (236,356) 549,065 236,712 60,960 (173,746) (164,315) (33,328)
Contributions 306,808 163,203 196,756 - - - -
Transfers In 56,515
Transfers Out (58,600) (58,200) (62,800) (900) - - -
TOTALCONTRIBUTIONS & TRANSFERS 248,208 105,003 133,956 (900) - - 56,515
CHANGE IN FUND BALANCE 261,821 (131,353) 683,021 235,812 60,960 (173,746) (107,800) (33,328)
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, August 31, 2010 58,842,762 64,259,675 40,303,513 1,812,199 9,748,613 940,329 5,393,974 1,440,613
Solid Waste operating expenses are low due to timing of invoices from Waste Management.
August billing of $629,509 was posted in September.
13
M®nthly Financial Rep®rt August 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 - 1,731,696 2,601,384 1,650,663
Rents, Leases, Concessions & Other - 90,620 50,744 - TOTALOPERATING REVENUES - 1,822,316 2,652,128 1,650,663
OPERATING EXPENSES: Administration 534,686 - 98,712 372,014
Operations & Maintenance - 1,307,113 2,188,510 834,203
Depreciation & Amortization - - 318,144 684,078
TOTAL OPERATING EXPENSES 534,686 1,307,113 2,605,366 1,890,295
OPERATING INCOME (LOSS) (534,686) 515,203 46,762 (239,632)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 3,293 1,271 8,059 10,642 Other Non Operating Revenue - 150 5,789 17,544
Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES) 3,293 1,421 13,848 28,186
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (531,393) 516,624 60,610 (211,446)
Contributions - - 10,950 90,964
Transfers In 238,600
Transfers Out - - (29,500) (22,400) TOTAL CONTRIBUTIONS & TRANSFERS 238,600 - (18,550) 68,564
CHANGE IN FUND BALANCE (292,793) 516,624 42,060 (142,882)
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, August 31, 2010 1,941,676 724,261 4,956,906 10,750,057
The Insurance Fund expenses include $409,880 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 $10,750,057 includes approximately $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 August 31, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 74,856,359 Various 0.27% KeyBank Money Market Various 6,587,062 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%
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 & I nvestments $ 95, 726,171 0.466%
Investment Mix % of Total Summary
State Investment Pool 78.2% Current 6-month treasury rate 0.22%
KeyBank Money Market 6.9% Current State Pool rate 0.27%
US Treasury 0.1 % KeyBank Money Market 0.10% FHLB 7.8% Blended Auburn rate 0.47%
FNMA 4.9%
FHLMC 2.1%
100.0%
16