HomeMy WebLinkAboutNovember 2010AGENDA BILL APPROVAL FORM
* SASH II'Ti
Agenda Subject: November 2010 Financial Report Date: 01/18/2011
Department: Finance Attachments: November Monthly Budget Impact: 0 Report
Administrative Recommendation:
Background Summary:
The November 2010 status report highlights City revenues and expenditures and is based on
financial data available as of December 27, 2010. Sales tax reported in November is for business activities that occurred in September 2010.
Total General Fund revenues for the City at the end of November were $48,849,523 which is
approximately 98% of the annual budgeted revenues. Compared to budgeted year-to-date
revenues, total General Fund revenue is $1.65M (3.5%} 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 budget amendment that is posted in December.
Expenditures for the General Fund totaled $44,808,224 which is $5.25M (10.5%) under budget
at the end of November. This is due in part from savings in salaries and benefits along with
timing of professional services, intergovernmental payments and inter-fund transfers that are
anticipated to be 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: January 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
Monthly Financial Report November 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 12,303,009 12,589,826 286,817 2.3% Sales Tax (1) 14,255,000 13,137,900 13,338,537 200,637 1.5%
Sales Tax -Annexation Credit 1,453,500 1,345,400 1,294,863 (50,537) -3.8%
Criminal Justice Sales Tax 1,143,300 1,053,600 1,148,308 94,708 9.0% Brokered Natural Gas Tax 260,000 236,500 248,334 11,834 5.0%
City Utilities Tax 2,140,200 2,012,000 2,190,598 178,598 8.9%
Admissions Tax 400,000 399,100 361,539 (37,561) -9.4% Electric Tax 2,794,100 2,794,100 2,995,902 201,802 7.2%
Natural Gas Tax 1,245,500 1,245,500 989,346 (256,154) -20.6%
Cable TV Franchise Fee 676,300 676,300 794,731 118,431 17.5%
Telephone Tax 1,934,200 1,772,800 1,937,455 164,655 9.3% Garbage Tax (external) 156,000 140,500 143,631 3,131 2.2%
Leasehold Excise Tax 80,000 68,300 28,019 (40,281) -59.0%
Gambling Excise Tax 466,500 430,200 253,529 (176,671) -41.1% Business License Fees 200,000 196,400 123,039 (73,361) -37.4%
Building Permits 700,000 643,900 679,816 35,916 5.6%
Other Licenses & Permits 228,800 204,200 294,573 90,373 44.3% Intergovernmental (Grants, etc) 4,524,940 4,068,640 3,401,298 (667,342) -16.4%
Charges for Services:
General Government Services 81,000 74,300 77,775 3,475 4.7%
Public Safety 244,000 227,500 203,578 (23,922) -10.5% Development Services Fees 702,000 643,500 577,973 (65,527) -10.2%
Culture and Recreation 789,000 745,000 814,032 69,032 9.3%
Fines and Forfeits 2,107,400 1,908,800 2,274,223 365,423 19.1% Interests and Other Earnings 170,000 168,200 127,508 (40,692) -24.2%
Rents, Leases and Concessions 543,000 503,100 565,721 62,621 12.4%
Contributions and Donations 51,600 44,900 54,223 9,323 20.8%
Other Miscellaneous 46,200 41,200 109,205 68,005 165.1% 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 50,400 101,643 51,243 101.7% T®tal ®perating Revenues 49,866,149 47,196,549 48,849,523 1,652,974 3.5%
®perating Expenditures
Council & Mayor 738,900 677,100 613,424 63,676 9.4% Municipal Court & Probation 3,055,280 2,762,880 2,481,426 281,454 10.2%
Human Resources 736,150 685,150 641,455 43,695 6.4%
Finance 1,170,960 1,058,760 990,727 68,033 6.4%
City Attorney 1,675,050 1,546,350 1,442,414 103,936 6.7% Planning 3,587,170 3,342,970 2,975,403 367,567 11.0%
Community & Human Services 1,070,400 972,600 783,671 188,929 19.4%
Police 23,650,215 21,250,515 19,540,471 1,710,045 8.0% Engineering 2,665,210 2,456,210 2,219,274 236,936 9.6%
Parks and Recreation 6,801,200 6,192,800 6,029,609 163,191 2.6%
Streets 3,093,500 2,839,400 2,473,597 365,803 12.9%
Non-Departmental 7,124,500 6,271,500 4,616,754 1,654,746 26.4% Total ®perating Expenditures 55,368,535 50,056,235 44,808,224 5,248,011 10.5%
(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 $1,466,620 SST Mitigation the City received from the State through 3rd quarter of 2010 plus
$327,796 estimated for October and November.
Monthly Financial Report November 2010
®verview
This financial overview reflects the City's overall financial position for the fiscal year through
November 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 November, the combined collection of property tax, sales/use tax, utility tax, gambling, and
admissions tax represents 78.4% of all resources supporting general governmental activities. The
following section provides detail information on property and sales taxes.
Property Tax
Year to date collection at the end of November is $12,589,826 and is 1.9% greater than the
$12,357,309 annual budget. Compared to 2009, the City collected $2,034,601 or 19.3% more
for the same period. At the end of the November, property tax revenue is $286,817 or 2.3%
more than the year to date budget and is in line with the budget.
Property Tax Revenue
Year to Date through November
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%
Ju( 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 196,787 229,400 189,677 (7,110) -3.6% (39,723) -17.3%
Oct 3,836,015 4,471,109 4,657,943 821,928 21.4% 186,834 4.2%
Nov 1,017,258 1,185,700 1,051,178 33,920 3.3% (134,522) -11.3%
Dec 46,566 54,300
YTD Total 10,555,225 12,303,009 12,589,826 2,034,601 19.3% 286,817 2.3%
Annual Total 10,601,791 12,357,309
Monthly Financial Report November 2010
Sales Tax
At the end of November, the year to date sales tax revenue of $13,338,537 is $461.7K more
than 2009 and $200.6K more than the current YTD budget. Also at the end of 3rd quarter, the
City has received $1,466,620 of the total anticipated SST mitigation of $1,966,775 for 2010. The
current report total includes an estimated $327,796 prorated share for October and November
of the quarterly payment that will be received in December. 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 November
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 1,104,591 (48,147) -4.2% (75,709) -6.4%
Aug 1,250,264 1,302,700 1,302,641 52,377 4.2% (59) 0.0%
Sep 1,148,525 1,147,700 1,221,393 72,868 6.3% 73,693 6.4%
Oct 1,254,457 1,200,400 1,168,705 (85,752) -6.8% (31,695) -2.6%
Nov 1,197,153 1,175,200 1,366,004 168,850 14.1% 190,804 16.2% Dec 1,065,935 1,117,100
YTD Tota( 12,876,793 13,137,900 13,338,537 461,744 3.6% 200,637 1.5%
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 November
2009 2010 Chan a from 2009
Component Group Actual Actual Amount Percenta e
New Construction 1,236,761 1,205,354 (31,407) -2.5%
Manufacturin 361,917 392,429 30,512 8.4%
Transportation & Warehousing 28,822 26,795 (2,027) -7.0%
Wholesale Trade 995,320 1,072,144 76,824
Automotive 2,365,731 2,334,402 (31,329) -1.3%
Retail Trade 3,310,947 3,308,410 (2,537) -0.1%
Services 2,669,127 3,097,682 428,555 16.1%
Miscellaneous 41,540 116,248 74,708 179.8%
YTD Total 11,010,165 11,553,464 543,299 4.9%
Monthly Financial Report November 2010
Utilit Tax
This revenue source consists of City inter-fund utility taxes (Water, Sewer, Storm and Solid Waste)
and external utility taxes (Electric, Natural gas, Telephone and Solid Waste). Year to date utility
tax revenue is $8,256,932 which is $953.2K (10.3%) less than 2009 primarily due to the City
Interfund 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 $292K or 3.7% more than budgeted tax revenues. The main source of this increase is attributed to higher than
anticipated revenues from the electric and inter-fund utility taxes.
Utility Tax Revenues
Year to Date through Noverber
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 453,881 357,300 364,769 (89,112) -19.6% 7,469 2.1%
Oct 1,123,629 987,100 1,181,926 58,297 5.2% 194,826 19.7%
Nov 516,516 433,900 427,125 (89,391) -17.3% (6,775) -1.6%
Dec 376,459 305,100
YTD Total 9,210,088 7,964,900 8,256,932 (953,156) -10.3% 292,032 3.7%
Annual Total 9,586,547 8,270,000
The following table presents utility tax by source:
Utilty Tax by Type
Year to Date through November
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
City Interfund Utility Taxes 2,887,364 2,012,000 2,190,598 (b96,766) -24.1% 178,598 8.9%
Electric 3,001,175 2,794,100 2,995,902 (5,274) -0.2% 201,802 7.2%
Natural Gas 1,237,186 1,245,500 989,346 (247,840) -20.0% (256,154) -20.6%
Telephone 1,947,795 1,772,800 1,937,455 (10,340) -0.5% 164,655 9.3%
Solid Waste 136,568 140,500 143,631 7,063 5.2% 3,131 2.2%
YTD Total 9,210,088 7,964,900 8,256,932 (953,156) -10.3% 292,032 3.7%
Annual Total 9,586,547 8,270,000
Monthly Financial Report November 2010
Cable TV Franchise Fees are received quarterly and are shown on the table below. This is
$48.5K or 6.5% more than the previous year for the same period and is $118.4K or 17.5%
greater than the 2010 year to date budget.
Cable TV Franchise Fee
Year to Date through November
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 - - - - N/A - N/A
Oct 186,910 169,400 211,916 25,006 13.4% 42,516 25.1%
Nov - - - - N/A - N/A Dec - -
YTDTotal 746,280 676,300 794,731 48,451 6.5% 118,431 17.5%
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 November, the City has collected 97.2% 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 November
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 55,073 12,458 29.2% (13,227) -19.4%
Oct 83,041 45,300 62,522 (20,519) -24.7% 17,222 38.0%
Nov 56,606 38,200 31,192 (25,414) -44.9% (7,008) -18.3%
Dec 137,651 56,100
YTD Total 697,827 643,900 679,816 (18,011) -2.6% 35,916 5.6%
Annual Total 835,478 700,000
Monthly Financial Report November 2010
Total building permit revenues at the end of November were $679,816. This was $18K lower
than 2009 for the same period and $35.9K or 5.6% more than budgeted revenues in 2010. The
increase in October and November of 2009 was primarily due to the developments at Trail Run
and the Auburn Regional Medical Center.
Business License revenues at the end of November were $82.2K or 40.1% less than 2009 and
$73.4K or 37.4% 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 November
2009 2010 2010 2010 vs. 2009 2010 vs. Budget
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 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% Aug 12,061 11,500 13,403 1,342 11.1% 1,903 16.5%
Sep 6,271 6,000 6,850 579 9.2% 850 14.2%
Oct 6,277 6,000 4,940 (1,338) -21.3% (1,061) -17.7%
Nov 5,229 5,000 3,468 (1,762) -33.7% (1,533) -30.7%
Dec 3,810 3,600
YTD Total 205,279 196,400 123,039 (82,240) -40.1% (73,361) -37.4%
Annual Total 209,089 200,000
lnter~overnmental
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 November
Intergovernmental revenues are less than 2009 and YTD budget because the quarterly revenue
for the Muckleshoot compact has not been received as negotiations have just recently been
completed. Timin of rant revenue varies as they are processed on a reimbursement basis.
Intergovernmental
Year to Date through November
2009 2010 2010 2009 vs 2010 2010 vs.Bud et
Revenue Actual Bud et Actual °lo Chan e % Chan e
Federal Grants 176,596 508,700 424,868 140.6% -16.5%
State Grants 106,416 73,900 128,231 20.5% 73.5%
lnterlocal Grants 214,588 141,100 138,996 -35.2% -1.5%
State Shared Revenue 2,244,291 2,344,940 2,340,972 4.3% -0.2% Muckleshoot Casino Emer . 1,427,921 1,000,000 368,231 -74.2% -63.2%
YTD Total 4,169,813 4,068,640 3,401,298 -18.4% -16.4%
Annual Total 4,499,411 4,524,940
YTD % 93% 90% 75%
Monthly Financial Report November 2010
Total state shared revenues are greater than 2009 actual for the same period 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.
At the end of November, total state shared revenues are in line with the budget and are only
$3.9K or 0.2% lower than year to date bud et.
State Shared Revenues
Year to Date through November 2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Bud et Actual Amount Percenta a Amount Percenta e
Trial Court Improvements 18,597 25,000 22,638 4,041 21.73% (2,362) -9.45%
Court Interpreter Pro ram 15,757 - 4,518 (11,238) -71.32% 4,518 N/A
Motor vehicle Fuel Tax 1,331,569 1,392,555 1,334,589 3,020 0.2% (57,966) -4.2%
Criminal Justice -Hi h Crime - - 74,525 74,525 N/A 74,525 N/A
Criminal Justice -Population 66,695 69,000 41,688 (25,007) -37.5% (27,312) -39.6% Criminal Justice -Spec. Prog. 55,171 33,000 56,884 1,712 3.1% 23,884 72.4%
State DUI 21,918 7,000 12,510 (9,407) -42.9% 5,510 78.7%
Fire insurance Premium Tax 59,677 60,000 63,545 3,868 6.5% 3,545 5.9%
liquor Excise Tax 320,885 321,985 327,709 6,824 2.1% 5,724 1.8%
liquor Profits 354,023 436,400 402,365 48,343 13.7% (34,035) -7.8%
YTD Total 2,244,291 2,344,940 2,340,972 96,680 4.3% (3,968) -0.2%
Annual Total 2,465,986 2,594,740
Charles for Serviees
This revenue source consists of general governmental services, public safety, development service
fees and cultural & recreation fees. Development services and culture & recreation revenues make
up approximately 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 November $1,673,358 or 92% 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 is no longer receiving service revenue from the City of Algona.
Public Safety consists of law enforcement services, probation and prisoner lodging fees; overall
this revenue source is 10.5% less than budget at the end of November due to decreased
probation revenues and law enforcement service revenue related to the amphitheater events.
Probation fees account for $172.5K of the $203.6K received to date for this category.
Charges for Services by Type
Year to Date through November
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Revenue Actual Budget Actual Amount Percentage Amount Percentage
General Government 97,706 74,300 77,775 (19,931) -20.40°l0 3,475 4.68°10
Public Safety 234,387 227,500 203,578 (30,809) -13.1°l0 (23,922) -10.5%
Development Services 453,297 643,500 577,973 124,b76 27.5°/a (65,527) -10.2%
Culture ~ Recreation 785,718 745,000 814,032 28,314 3.6°lo b9,032 9.3°l0
YTD Total 1,571,108 1,690,300 1,673,358 102,250 6.5°l0 (16,942) -1.0%
Annual Total 1,683,495 1,816,000
Monthly Financial Report November 2010
Development Services include Engineering fees, zoning & subdivision fees and plan check fees. At
the end of November, year to date revenues totaled $577,973 and is 27.5% or $124.7K more
than the same period in 2009. This is due to the receipt of plat security funds for the North
Tapps Estates development and plan check fees for an addition to the Auburn public library and
new hotel within the City. Total development service revenue is less than the budget for the
year by $65.5K or 10.2% due to lower than anticipated engineering fees and plan check fee
revenues.
Development Service Fees
Year to Date through November
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 99,904 67,500 208.3% 53,904 117.2%
Oct 15,079 21,400 64,904 49,825 330.4% 43,504 203.3%
Nov 26,650 37,800 37,476 10,826 40.6% (324) -0.9%
Dec 41,227 58,500
YTD Total 453,297 643,500 577,973 124,676 27.5% (65,527) -10.2%
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 November shows an increase of
$28.3K from 2009 and $69K greater than 2010 YTD budget. Year to date increases are mainly
due to success of the Around the Bell before & afterschool programs and adult fitness programs.
Culture & Recreation
Year to Date through November
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°l0 (1,983) -2.9%
Feb 51,878 49,200 57,959 6,081 11.7°l0 8,759 17.8°l0
Mar 124,525 118,100 133,930 9,405 7.6°l0 15,830 13.4°l0
Apr 81,520 77,200 69,877 (11,643) -14.3°l0 (7,323) -9.5°l0
May 75,505 71,600 70,119 (5,386) -7.1°l0 (1,481) -2.1%
Jun 90,011 85,300 109,364 19,353 21.5°l0 24,064 28.2°l0 Jul 77,622 73,600 89,315 11,693 15.1°l0 15,715 21.4°l0
Aug 66,639 63,200 76,531 9,892 14.8°l0 13,331 21.1%
Sep 61,305 58,100 60,648 (657) -1.1°l0 2,548 4.4°l0
Oct 41,086 39,000 39,341 (1,745) -4.2°l0 341 0.9°l0
Nov 44,066 41,800 41,030 (3,036) -6.9°l0 (770) -1.8°l0
Dec 46,428 44,000
YTD Total 785,718 745,000 814,032 28,314 3.6% 69,032 9.3°l0
Monthly Financial Report November 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 $564,625 or
33% greater than 2009 for the same period and $365,423 or 19.1% higher than the projected
budget. The overall increase for the year 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 November
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 135,201 147,000 165,581 30,380 22.5% 18,581 12.6%
Oct 140,945 150,300 121,530 (19,415) -13.8% (28,770) -19.1%
Nov 151,870 173,800 204,643 52,773 34.7% 30,843 17.7%
Dec 210,746 198,600
YTD Total 1,709,598 1,908,800 2,274,223 564,625 33.0% 365,423 19.1%
Annual Total 1,920,344 2,107,400
Fines & Forfeits by Type
Year to Date through November
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Acfiual Amount Percenta a Amount Percenta e
Civil Penalties 19,406 13,400 20,969 1,5b3 8.1% 7,569 56.5%
Civil Infraction Penalties 580,787 420,200 66b,802 8b,014 14.8% 246,602 58.7%
Red Light Photo Enforcement 738,143 995,400 1,106,187 368,044 49.9% 110,787 11.1%
Parking Infractions 136,193 152,300 174,149 37,956 27.9% 21,849 14.3%
Criminal Traffic Misdemeanor 87,612 103,200 80,850 (6,762) (22,350) -21.7%
Criminal Non-Traffic Fines 109,421 85,000 99,124 (10,297) -9.4°l0 14,124 16.6%
Criminal Costs 11,620 19,100 8,590 (3,030) -26.1°l0 (10,510) -55.0% Non-Court Fines & Penalties 26,415 120,200 117,553 91,138 345.0% (2,647) -2.2%
YTD Total 1,709,599 1,908,800 2,274,223 564,b26 33.0% 365,423 19.1%
Annual Total 1,920,344 2,107,400
Monthly Financial Report November 2010
Photo Enforcernent
Year to Date through Noverber
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 50,624 2,727 5.7% (17,076) -25.2%
Oct 44,010 62,600 49,153 5,143 11.7% (13,447) -21.5%
Nov 74,239 97,100 114,621 40,381 54.4% 17,521 18.0%
Dec 102,895 104,600
YTD Total 738,143 995,400 1,106,187 368,044 49.9% 110,787 11.1%
Annual Total 841,038 1,100,000
Miscellaneous
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 0.21%
in November 2010. The increase in rentals & leases compared to 2009 is due to the inter-fund payment from the utility funds for the City Hall Annex lease. In comparison to the 2010 budget,
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 support 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 November
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Amount Percenta a Amount Percenta e
Interest & Investments 176,604 168,200 127,508 (49,096) -27.8% (40,692) -24.2%
Rents & Leases 237,138 503,100 5b5,721 328,583 138.b% b2,621 12.4%
Contributions & Donations 105,234 44,900 54,223 (51,011) -48.5% 9,323 20.8%
Other Miscellaneous Revenue 70,719 41,200 109,205 38,486 54.4% b8,005 165.1%
YTD Total 589,695 757,400 856,656 266,961 45.3% 99,256 13.1%
Annual Total 664,307 810,800
Monthly Financial Report November 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. September REET 1 revenue is low compared to
October for a couple reasons. First, the King County REET 1 revenue for September of $42,908
was received and posted in October. Also, from July 1, 2006 to August 31, 2010 the County had
withheld too much in administrative fees and a reimbursement of $21,950 was received in
October. Although November REET revenue has increased from the past several months; the
year to date revenue is $369.1K or 25.1%less than 2009 and $596.6K or 35.1% less than the current year to date budget. This decline in REET revenues reflects the current slump in the
commercial and residential markets.
Real Estate Excise Tax Revenues
Year to Date through Noverber
2009 2010 2010 2010 vs. 2009 2010 vs. Bud et
Month Actual Bud et Actual Arnount Percents a Amount Percents 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 106,672 123,200 114,879 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 22,789 (156,278) -87.3% (183,911) -89.0%
Oct 314,172 362,700 122,410 (191,762) -61.0% (240,290) -66.3%
Nov 184,935 213,500 166,145 (18,790) -10.2% (47,355) -22.2%
Dec 87,440 101,000
YTD Total 1,471,486 1,699,000 1,102,379 (369,107) -25.1% (596,621) -35.1%
Annual Total 1,558,926 1,800,000
Monthly Financial Report November 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 UVaste Airport Cemetery Golf Comm. Retail
OPERATING REVENUES
Charges for services 8,486,292 14,512,493 5,891,046 8,414,699 24,374 647,448 1,328,138
Rents, Leases, Concessions & Other - - - - 564,661 - 59,643 TOTAL OPERATING REVENUES 8,486,292 14,512,493 5,891,046 8,414,699 589,035 647,448 1,387,781
OPERATING EXPENSES:
Administration 2,171,021 1,681,109 2,012,709 658,318 462,482 244,952 192,196
Operations & Maintenance 3,992,489 13,049,680 2,106,837 7,673,070 149 575,039 1,083,950
Depredation & Amortization 1,940,775 1,259,174 998,645 18,394 199,402 52,432 308,861 33,328
TOTAL OPERATING EXPENSES 8,104,285 15,989,963 5,118,191 8,349,782 662,033 872,423 1,585,007 33,328
OPERATING INCOME (LOSS) 382,007 (1,477,470) 772,855 64,917 (72,998) (224,975) (197,226) (33,328)
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 52,679 56,282 36,073 2,208 3,232 601 554
Other Non Operating Revenue 47,957 504,300 82,182 16,824 129,606 282 2,746
Other Non Operating Expense (35,257) (20,045) - - (57,875) (22,268) (198,594)
TOTAL NON-OPERATING REVENUES (EXPENSES) 65,379 540,537 118,255 19,032 74,963 (21,385) (195,294)
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS 447,386 (936,933) 891,110 83,949 1,965 (246,360) (392,520) (33,328)
Contributions 373,904 222,654 255,825 - - - -
Transfers In 122,868
Transfers Out (58,600) (58,200) (62,800) (900) - - -
TOTALCONTRIBUTIONS & TRANSFERS 315,304 164,454 193,025 (900) - - 122,868
CHANGE IN FUND BALANCE 762,690 (772,479) 1,084,135 83,049 1,965 (246,360) (269,652) (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, November 30, 2010 59,343,631 63,618,549 40,104,627 1,659,436 9,689,618 867,715 5,232,122 1,440,613
Solid Waste operating expenses are low due to timing of invoices from Waste Management.
November billing of $636,652 was posted in December.
Monthly Financial Report November 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 - 2,381,082 3,576,903 2,269,004
Rents, Leases, Concessions & Other - 107,408 22,790 - TOTALOPERATING REVENUES - 2,488,490 3,599,693 2,269,004
OPERATING EXPENSES: Administration 213,263 - - 480,980
Operations & Maintenance - 1,806,125 3,109,215 1,176,252
Depreciation & Amortization - - 423,104 915,195
TOTAL OPERATING EXPENSES 213,263 1,806,125 3,532,319 2,572,427
OPERATING INCOME (LOSS (213,263) 682,365 67,374 (303,423
NON-OPERATING REVENUES & EXPENSES
Interest Revenue 4,619 1,771 10,688 14,180 Other Non Operating Revenue - - 40,341 19,954
Other Non Operating Expense - - - -
TOTALNON-OPERATING REVENUES (EXPENSES 4,619 1,771 51,029 34,134
INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS (208,644) 684,136 118,403 (269,289
Contributions - - 10,950 90,964
Transfers In 238,600
Transfers Out - (450,000) (29,500) (22,400) TOTAL CONTRIBUTIONS & TRANSFERS 238,600 (450,000) (18,550) 68,564
CHANGE IN FUND BALANCE 29,956 234,136 99,853 (200,725
BEGINNING FUND BALANCE, January 1, 2010 2,234,469 207,637 4,914,846 10,892,939
ENDING FUND BALANCE, November 30, 2010 2,264,425 441,773 5,014,698 10,692,214
The Insurance Fund expenses include $102,471 that was paid at the beginning of the year. This
amount has been 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 $10,692,214 includes approximately $4.8 M in fixed assets net
of depreciation which primarily consists of the City's fleet vehicles.
Contact Information
This report is prepared by the Finance Department. Additional financial information can also be
viewed at our website: htt ://www.auburnwa.~ov/. For any questions about the report please
contact us at scoleman(a~auburnwa.~ov.
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Investment Portfolio Summary
As of November 30, 2010
Investment Purchase Purchase Maturity Yield to
Type Date Price Date Maturity
State Investment Pool Various $ 70,902,844 Various 0.22% KeyBank Money Market Various 6,652,498 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 & Investments $ 91,838,092 0.434%
Investment Mix % of Total Summary
State Investment Pool 77.2% Current 6-month treasury rate 0.18%
KeyBank Money Market 7.2% Current State Pool rate 0.22%
US Treasury 0.1 % KeyBank Money Market 0.10% FHLB 8.2% Blended Auburn rate 0.43%
FNMA 5.1%
FHLMC 2.2%
100.0%