City of Twin Falls, Idaho Preliminary Monthly Financial and Economic DDashboard Issued January 24, 2013 Reporting Period: FYE 2014, December 2013
DECEMBER OUR CASH… OUR CASH FLOWS… Balances as of December 30, 2013. FY 2014: Dec TO Dec 2013 FYS 2010‐2013 AVG. GENERAL FUND REVENUES AND EXPENSES COMPARISON OF YTD % AVG. . GENERAL FUND – CASH & INVESTMENTS Fiscal Year 2014 Budget $20,466,518 Dec 2013 $11.669 M Revenues to Date carapass$ 2,717,000e franc 13.a3 %is 15.7 % Dec 2012 $10.678 M Expenditures to Date $ 4,716,669 23.0 % 20.6 % See pg. 6 Avg. Dec FY 2010‐12 $11.094 M Restricted Cash $ 5.117 M STREET FUND REVENUES AND EXPENDITURES Unrestricted Cash Available $ 6.552 M Fiscal Year 2014 Budget $ 5,504,612 Revenues to Date $ 964,150 17.5 % 16.3 % STREET FUND – CASH & INVESTMENTS Expenditures to Date $ 716,009 13.0 % 18.6 % See pg. 7 Dec 2013 $ 3.762 M Dec 2012 $ 1.151 M WATER FUND REVENUES AND EXPENDITURES Avg. Dec FY 2010‐12 $ 3.168 M Fiscal Year 2014 Budget $ 9,786,385* Restricted Cash $ 3.762 M Revenues to Date $ 2,303,498 24.1 % 22.4 % Unrestricted Cash Available $ 0.000 M User Fees Revenues $ 1,524,677 22.3 % 21.9 % Expenditures to Date $ 1,558,774 15.9 % 22.6 % See pg. 10 CAPITAL FUND – CASH & INVESTMENTS *Exp Budget shown – Rev % omits $800,000 reserves ($10,373,212 ‐ $800,000 = $9,,573,212) Dec 2013 (incl. URA draw request) $ 4.617 M Dec 2012 $ 3.488 M SEWER FUND REVENUES AND EXPENDITURES Avg. Dec FY 2010‐12 $ 2.977 M Fiscal Year 2014 Budget $ 9,339,189 Restricted Cash $ 4.599 M Revenues to Date $ 3,315,165 35.5 % 20.2 % Unrestricted Cash Available $ 0.018 M User Fees Revenues $ 2,208,738 24.8 % 23.1 % Expenditures to Date $ 2,678,391 28.7 % 30.6 % See pg. 11 WATER FUND – CASH & INVESTMENTS Dec 2013 (incl. URA draw request) $10.061 M Dec 2012 $ 8.316 M Avg. Dec FY 2010‐12 $ 9.474 M Restricted Cash $10.061 M Unrestricted Cash Available $ 0.000 M PECIFIC EVENUES OLLECT IONS AT A LANCE S R C G … FY 2014: Dec TO Dec 2013 FYS 2010‐2013 AVG. SEWER FUND – CASH & INVESTMENTS Dec 2013 (incl. URA draw request) $ 8.689 M PROPERTY TAX COLLECTIONS COMPARISON OF YTD % AVG. . Dec 2012 $ 8.518 M Budget $17,286,791 Avg. Dec FY 2010‐12 $ 2.531 M Revenues to Date $ 1,107,096 6.4 % 5.6 % Restricted Cash $ 8.689 M Unrestricted Cash Available $ 0.000 M STATE SHARED REVENUES COLLECTIONS Budget $ 5,935,000 Revenues to Date $ 1,396,256 23.5 % 23.6 %
BUILDING PERMITS AT A GLANCE… BUILDING PERMIT REVENUES COLLECTIONS NEW COMMERCIAL BUILDING PERMITS ISSUED Budget $ 813,000 Dec 2013/Total for Fiscal Year 2014 1/6 Revenues to Date $ 237,517 29.2 % 23.1 % Estimated Permit Value for Month $ .410 M Dec 2012/Total for Fiscal Year 2013 1/7 Estimated Permit Value for Dec 2012 $ .194 M UNEMPLOYMENT INDICATORS Current Last Month Last Year SINGLE FAMILY BUILDING PERMITS ISSUED National Unemployment Rate 66.7% 7.0 % 7.9% Dec 2013 5 Dec 2012 18 Idaho Unemployment Rate 55.7% 6.1 % 6.3% Five‐Year Average for Dec 11.4 Twin Falls Unemployment Rate 55.1% 5.1 % 6.1% Thru Dec for FY 2014 41 Thru Dec for FY 2013 31 Five‐Year Average (FY’09 – ’13) 30.2 ECONOMIC INFORMATIION
ESTIMATED TOTAL VALUE OF BUILDING PERMITS ISSUED Change from: LLast Month Last Year . Estimated Total Value for FY2014 $13.679 M Municipal Cost Index (MCI) ‐ .22% 1.27% Estimated Total Value for FY2013 $12.846 M Consumer Price Index (CPI) ‐ .30% 1.50 %
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City of Twin Falls, Idaho
Monthly Financial and Economic Dashboard Reporting Period: December, 2013 Published: January, 2014
General Fund
Revenues Total Revenues Received for Fiscal Year 2014 $ 2,717,000 Total Anticipated Revenues Budgeted for Fiscal Year 2014 $ 20,466,518
Expenses Total Expenses Made in Fiscal Year 2014 $ 4,716,669 Total Anticipated Expenditures Budgeted for Fiscal Year 2014 $ 20,466,518
Cash Reserves and Investments Cash and Investments in Reserve$ 11,669,153
3 Months Operating Expense$ 5,116,629 Total Restricted Cash $ (5,116,629)
Unrestricted Cash ‐ December 2013 $ 6,552,524
General Fund Reserves
3 Months Operating Expense Unrestricted Cash
$6,552,524 , 56%
$5,116,629 , 44%
2 City of Twin Falls, Idaho
Monthly Financial and Economic Dashboard Reporting Period: December, 2013 Published: January, 2014
Street Fund
Revenues Total Revenues Received for Fiscal Year 2014 $ 964,150 Total Anticipated Revenues Budgeted for Fiscal Year 2014 $ 5,504,612
Expenses Total Expenses Made in Fiscal Year 2014 $ 716,009 Eastland Project Expenditures to Date $ 5,000 Balance of Total Expenditures Net of Eastland Project Expenditures$ 711,009 Total Anticipated Operating Expenditures Budgeted for Fiscal Year 2014 $ 1,792,772 Total Anticipated Capital Expenditures Budgeted for Fiscal Year 2014 $ 3,711,840
Budget Remaining Misc. on‐going: ADA Ramps, large zipper projects, storm drain repairs & projects$ 692,840 $ 674,550 Seal Coating $ 880,000 $ 880,000 New 10 CY / 10 Wheel Dump Truck $ 130,000 $ 130,000 2014 Model John Deere 444 Loader w/quick attach bucket & forks $ 139,000 $ 139,000 2014 Model John Deere 672GP Six‐Wheel Drive Grader $ 199,000 $ 199,000 Hydraulic Driven 6 Cubic Yard Stainless Steel Sander Bed $ 15,000 $ 15,000 Update Video Detection Equipment $ 7,000 $ 7,000 Overlay Projects $ 135,000 $ 135,000 Eastland South (Re‐construct S of RR tracks to Orchard concrete) $ 500,000 $ 496,789 Orchard: Kenyon to Washington St S $ 400,000 $ 400,000 LHTAC Projects ‐ Illuminate Poleline/Eastland Int. & Signal at Addison/Carriage$ 614,000 $ 609,590 $ 3,685,929 Unbudgeted Expenditures: 2013 Victory Bridge Fund Project $ 79,273 Tree removal at 8th & Idaho Street $ 850 Ford 450 Super Duty Truck (Encumbrance request) $ 43,505 Orchard West design (Encumbrance request) $ 3,081 Idaho,Hansen St Alley Paving (Encumbrance request) $ 59,734 Flat bed for Ford 450 Super Duty Truck (Encumbrance request) $ 3,099 Falls‐Walnut to Locust $ 105,932 Property Acquisition‐portion of JM Kitchens' site from J.Martin $ 38,603 $ 334,077 Cash Reserves and Investments Cash and Investments in Reserve$ 3,762,374
Restricted Cash 3 Months Operating $ 448,193 *Budgeted Capital Projects for FY 2014 (less $37,671 pending rev. to move fwd)$ 3,648,258 *Unbudgeted Expenditures (reduces available budget for Misc. Street Projects)$ (334,077) Total Restricted Cash $ (3,762,374)
Unrestricted Cash ‐ December 2013 $ 0
Street Fund Reserves 3 month Operating Expense Budgeted Capital Projects for FY 2014 (reduced by unbudgeted exp.) Unrestricted Cash
$3,314,181 , 88%
$0 , 0%
$448,193 , 12%
3 City of Twin Falls, Idaho
Monthly Financial and Economic Dashboard Reporting Period: December, 2013 Published: January, 2014
Water Fund
Revenues Total Revenues Received for Fiscal Year 2014 $ 2,303,498 Total Anticipated Revenues Budgeted for Fiscal Year 2014 $ 9,573,212 Expenses Total Expenses Made in Fiscal Year 2014 $ 1,558,774 Chobani Project expenditures ‐ URA Funded $ 1,635 Arsenic Project expenditures to be funded by Revenue Bond $ ‐ Total expenditures net of above expenditures$ 1,557,139 Total Anticipated Operations Expenditures Budgeted for Fiscal Year 2014 $ 5,266,462 Total Anticipated Debt Expenditures Budgeted for Fiscal Year 2014 $ 2,792,423 Total Anticipated Capital Expenditures Budgeted for Fiscal Year 2014 $ 1,727,500 Budget Remaining Land Purchase for Reservoir$ 350,000 $ (101,908) Paint Harrison & Southeast Reservoirs$ 30,000 $ 30,000 Automatic Transfer Switch (install at Eldridge booster station) $ 13,000 $ 13,000 Pressure Reducing Valve for Grandview & Filer $ 15,000 $ 15,000 Automatic Transfer Switch for South Well #3 $ 13,000 $ 13,000 Manual Transfer Switch for South Well #2 $ 5,000 $ 5,000 PLC & Radio Upgrades for Canyon Springs (and Blue Lakes) $ 38,000 $ 38,000 Blue Lakes Well Pump $ 800,000 $ 800,000 Public Works Building Insulation$ 25,000 $ 25,000 Public Works Building Garage Doors $ 20,000 $ 20,000 Mainline Replacement $ 350,000 $ 344,749 Furniture‐ New conference room, break room tables & chairs, office $ 15,000 $ 14,122 F250 Cab & Chassis (for existing customer service truck bed) $ 20,000 $ 20,000 Hydraulic trench shoring jacks $ 4,500 $ 4,500 Access Control System ‐ 8 water locations $ 29,000 $ 29,000 $ 1,269,463 Unbudgeted Expenditures: Public Works Building $ 62,779 Water System Facility Plan Upgrade $ 14,314 City Water System Detail Study (Encumbrance Req.) $ 1,767 $ 78,860
Cash Reserves and Investments Cash and Investments in Reserve$ 9,933,459 Bond Proceeds for Arsenic $ 125,993 Chobani Draw‐Down in transit on Chobani Project$ 1,635 $ 10,061,087 Restricted Cash Arsenic Project$ 125,993 2 Months Operating$ 877,744 Debt & Bond Covenant Required Reserve$ 2,792,423 Accumulated Funds for early pay‐off of Arsenic Compliance Debt$ 1,576,250 Budgeted Cap.Projs for FY 2014 (‐$1,925 pending rev.to proceed)$ 1,267,538 Unbudgeted Expense (reduces avail. Budget for capital projects)$ (78,860) Water Storage Tank contribution$ 3,500,000 $ (10,061,088) Unrestricted Cash ‐ December 2013 $ (0)
Water Fund Reserves Arsenic Project Reserves 2 Months Operating Debt & Bond Covenant Required Reserve Accumulated Funds for early pay‐off of Arsenic Compliance Debt Budgeted Capital Projects for FY 2014 (reduced by unbudgeted) Water Storage Tank contribution $1,188,678 , 12% $3,500,000 , $1,576,250 , 35% 15%
$(0), 0%
$125,993 , 1%
$2,792,423 , $877,744 , 9% 28%
4 City of Twin Falls, Idaho
Monthly Financial and Economic Dashboard Reporting Period: December, 2013 Published: January, 2014
Sewer Fund Revenues Total Revenues Received for Fiscal Year 2014 $ 3,315,165 Total Anticipated Revenues Budgeted for Fiscal Year 2014 $ 9,339,189 Expenses Total Expenses Made in Fiscal Year 2014 $ 2,678,391 Chobani Project expenditures ‐ URA Funded $ 108,791 Expenditures to be funded by Revenue Bonds: Rock Creek Lift Station ‐$ UV Disinfection Project ‐$ Dewatering (Belt Press) Project $ 5,930 Aeration Basin Diffuser Replacement $ 3,160 Influent Screen Replacement ‐$ Dewatering Building $ 38,209 Total expenditures net of above projects $ 2,522,300 Total Anticipated Operations Expenditures Budgeted for Fiscal Year 2014 $ 4,906,135 Total Anticipated Debt Expenditures Budgeted for Fiscal Year 2014 $ 3,253,754 Total Anticipated Capital Expenditures Budgeted for Fiscal Year 2014 $ 1,179,300 Budget Remaining Failed Lines & CIPP $ 350,000 $ 347,778 Sewer System Update $ 200,000 $ 200,000 Utility Dump Bed for existing 1 Ton Truck $ 8,300 $ 50 Skid Steer ‐ John Deere 325/equivalent $ 37,000 $ (13,223) 20' Tilt‐Deck Equipment Trailer $ 8,000 $ 8,000 Camera & update mobile pipe inspection system $ 76,000 $ 76,000 ConAgra Sludge Tank Construction$ 400,000 $ 395,729 Auger Falls (Construction Contingtency)$ 100,000 $ (348,553) $ 665,781
Unbudgeted: Public Works Building$ 37,925 WWTP Upgrades ‐ Phase 2 Expansion$ 1,272,016 WWTP Facility Plan Update$ 19,367 $ 1,329,308
Cash Reserves and Investments Cash and Investments in Reserve$ 8,580,351 Chobani Draw‐Down in transit on Chobani Project $ 108,791 $ 8,689,142 Restricted Cash 2 Months Operating$ 817,690 Sewer Capacity Fees$ 3,118,883 Debt & Bond Covenant Required Reserve (‐$1,982,555 pending rev.)$ 1,271,199 Bond Proceeds ($8,006,465.53 less bond projects expenditures‐to‐date$ 3,481,370 Budgeted Capital Projects for FY 2014 (On hold pending rev. to proceed $ ‐ Less unbudgeted (reduces available budget for capital projects) $ ‐ $ (8,689,143) Unrestricted Cash ‐ December 2013 $ (0) Sewer Fund Reserves 2 Months Operating Sewer Capacity Fees Debt & Bond Covenant Required Reserve (‐$1,982,555 pending rev.) Bond Proceeds ($8,006,465.53 less bond projects expenditures‐to‐date) Budgeted Capital Projects for FY 2014 (reduced by unbudgeted) Unrestricted Reserve Balance
$3,118,883 , 36% $817,690 , 9%
$‐ , 0%
$(0), 0% $1,271,199 , 15%
$3,481,370 , 40%
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General Fund Revenue General Fund‐Collected thru Dec 31 YTD Collections Compared to Annual Budget General Fund‐Annual Budget General Fund Revenues (with 5 Year Comparison) General Fund‐Actual Revenues
13.3% $2,717,000 What we are seeing: General Fund revenues are 2013‐2014 $20,466,518 at 13.3% of budget 25.0% through the year. This $2,717,000 is typical, as the General Fund is heavily 26.6% $5,112,514 supported by property tax dollars, and the 1st of 2012‐2013 $19,216,623 22.7% 2 payments won’t be received until January 2014. $22,535,243 Total building dept. revenues are at 29.2% of 11.9% $2,150,650 budget. Building permit revenue is at 28.6% of 2011‐2012 $18,067,458 11.6% budget while electrical, plumbing & mechanical $18,495,914 permits are at 30.5%. 11.6% $2,144,931 2010‐2011 $18,416,864 11.7% What we are projecting: The City will be $18,322,407 monitoring revenue sources closely, and will be 12.5% $2,232,484 making necessary adjustments to spending if 2009‐2010 $17,795,129 12.4% warranted. $17,972,075 $‐ $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000
General Fund Expenditures YTD Expenditures Compared to Annual Budget Gen. Fund‐Expended thru Dec 31 (with 5 Year Comparison) Gen. Fund‐Annual Budget Gen. Fund‐Actual Expenditures General Fund Expenditures What we are seeing and projecting: 23.0% The $4,716,669 2013‐2014 $20,466,518 General Fund is 23.0% spent 25.0% through the $4,716,669 year. The prior 4 yr average for this same time of 20.5% year is 20.6%. The City is still regularly monitoring $4,195,847 2012‐2013 $20,433,129 spending. Although the economy is not as fragile 25.7% $16,358,059 as it was a few years ago, there is a need to be
18.2% cautious. The City was fortunate enough to have $4,467,584 2011‐2012 $24,553,355 been able to weather the downturn of the past 19.1% $23,420,024 few years because of the conservative and
21.6% prudential approach it historically has had. We $3,985,542 2010‐2011 $18,416,864 don’t want to find ourselves in a reactive 24.1% $16,565,538 response to down turns in the economy. 21.9% $3,894,536 2009‐2010 $17,795,129 23.3% $16,684,357 $‐ $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000
General Fund General Fund‐Collected thru Dec 31 Current General Fund Revenues and Revenues and Expenditures YTD (with 5 Year Comparison) General Fund‐Expended thru Dec 31 Expenditures
What we are seeing: For December, the City’s 173.6% General Fund revenues are behind expenditures. 2013‐2014 $2,717,000 $4,716,669 This is typical for the General Fund, which is heavily supported by property tax dollars (64.7%). 82.1% 2012‐2013 $5,112,514 The first payment won’t be received until January $4,195,847 2014. The City has reserves (i.e.: savings account)
207.7% to fund operating expenditures for the first 4 2011‐2012 $2,150,650 $4,467,584 months of the fiscal year until we receive the property tax revenue. The City will continue to 185.8% 2010‐2011 $2,144,931 closely monitor revenues, update projections and $3,985,542 adjust spending as necessary for the 2013‐2014 fiscal year. 174.4% 2009‐2010 $2,232,484 $3,894,536 $‐ $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000
6 Street Fund Revenue YTD Collections Compared to Annual Budget (with 5 Year Comparison) Street Fund‐Collected thru Dec 31
Street Fund‐Annual Budget
Street Fund‐Actual Revenues Street Fund Revenues 17.5% $964,150 2013‐2014 $5,504,612 What we are seeing and projecting: The Street $964,150 Fund revenues are at 17.5% of budget 25.0% 14.2% $860,770 2012‐2013 $6,056,693 through the year. Property taxes, highway user 17.2% $5,015,007 revenue and road & bridge tax account for 67.6%
18.2% of the Street Fund’s budgeted revenues. The City $926,883 2011‐2012 $5,092,183 17.1% won’t receive property tax dollars until January $5,428,904 2014. The previous 4 year average at this point in 16.7% $823,222 the fiscal year is 16.3%. 2010‐2011 $4,943,257 16.6% $4,958,811 16.0% $790,939 2009‐2010 $4,935,200 13.5% $5,875,728 $‐ $1,380,000 $2,760,000 $4,140,000 $5,520,000 $6,900,000
Street Fund Expenditures YTD Expenditures Compared to Annual Budget (with 5 Year Comparison) Street Fund‐Expended thru Dec 31 Street Fund‐Annual Budget Street Fund Expenditures Street Fund‐Actual Expenditures What we are seeing and projecting: The Street 13.0% $716,009 2013‐2014 Fund is 13.0% spent 25.0% through the fiscal year. $5,504,612 $716,009 The previous 4 year average is 18.6% through 22.1% $1,461,025 December. 2012‐2013 $6,616,693 38.8% $3,761,922 What this means: The Street Funds expenditures 18.0% $1,053,280 2011‐2012 $5,842,183 for the current year do not include any major 17.2% $6,106,838 construction project costs that were budgeted in 26.7% $1,321,192 the previous year but some smaller projects are 2010‐2011 $4,943,257 27.2% $4,866,134 being completed in the current year.
7.5% $680,314 2009‐2010 $9,049,800 8.0% $8,518,310 $‐ $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000
Street Fund
Revenues and Expenditures YTD Street Fund‐Collected thru Dec 31 (with 5 Year Comparisons) Street Fund‐Expended thru Dec 31 Current Street Fund Revenues and Expenditures
74.3% 2013‐2014 $964,150 What we are seeing and projecting: The Street $716,009 Fund has more revenues than expenditures at this 169.7% time of year. This is what would normally be 2012‐2013 $860,770 $1,461,025 expected. However, some prior years have carryover construction project costs included 113.6% 2011‐2012 $926,883 which distort the revenue to expenditure $1,053,280 comparison. 160.5% 2010‐2011 $823,222 $1,321,192
86.0% 2009‐2010 $790,939 $680,314
$‐ $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000
7 Airport Fund Revenue YTD Collections Compared to Annual Budget Airport Fund Revenues (with 5 Year Comparison) Airport Fund‐Collected thru Dec 31
Airport Fund‐Annual Budget Airport Fund‐Actual Revenues What we are seeing and projecting: The previous 4 year average of actual revenues 26.9% $340,937 receipted this time of year is 23.2%. For fiscal 2013‐2014 $1,266,950 $340,937 2014, the YTD receipts are 26.9% of budgeted 30.6% revenues. Landing fees, terminal rentals, $366,524 2012‐2013 $1,196,011 29.6% concessions, ARFF fees, and franchises make $1,238,900 up 40.2% of the budgeted revenue in the 17.5% $255,181 2011‐2012 $1,461,328 Airport Fund. The City has received 37.0% of 16.2% $1,575,763 this revenue 25.0% through the year. The 24.8% Airport Fund is supported with property tax $285,022 2010‐2011 $1,147,381 23.7% dollars from both the City and the County. $1,203,505 These revenues make up over 53.1% of the 20.0% $226,138 2009‐2010 $1,133,050 total budgeted revenues. The City won’t 19.1% $1,182,228 receive substantial property tax dollars until $‐ $320,000 $640,000 $960,000 $1,280,000 $1,600,000 January 2014.
Airport Fund Expenditures YTD Expenditures Compared to Annual Budget (with 5 Year Comparison) Airport Fund‐Expended thru Dec 31
Airport Fund‐Annual Budget Airport Fund‐Actual Expenditures Airport Fund Expenditures 21.4% $271,376 2013‐2014 $1,266,950 $271,376 What we are seeing and projecting: The current
16.9% year‐to‐date expenditures at the Airport are $231,411 2012‐2013 $1,372,179 21.4% of budget, and are a little above the 22.9% $1,010,449 previous 4 year average of 17.3%. The budget 19.3% $273,546 for 2014 has very few capital projects planned, 2011‐2012 $1,416,766 20.1% $1,359,334 and budgeted expenditures are mostly to cover
21.6% maintenance and operation expenses. $247,842 2010‐2011 $1,147,381 23.7% $1,043,569
11.5% $244,387 2009‐2010 $2,118,874 11.6% $2,103,546 $‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000
Airport Fund Revenues and Expenditures YTD (with 5 Year Comparions) Airport Fund‐Collected thru Dec 31 Airport Fund‐Expended thru Dec 31
Current Airport Fund Revenues and Expenditures
79.6% 2013‐2014 $340,937 What we are seeing and projecting:. The $271,376 City currently has more revenue than 63.1% 2012‐2013 $366,524 expenditures in the Airport Fund. It is still early $231,411 in the City’s fiscal year cycle and may be too
107.2% early to draw defined conclusions when 2011‐2012 $255,181 comparing to earlier years. $273,546
87.0% 2010‐2011 $285,022 $247,842
108.1% 2009‐2010 $226,138 $244,387 $‐ $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000
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Capital Improvement Fund Revenue YTD Collections Compared to Annual Budget (with 5 year Comparison) CI Fund‐Collected thru Dec 31 CI Fund‐Annual Budget CI Fund‐Actual Revenues Capital Improvement/Special Project 24.8% $493,639 Fund Revenues 2013‐2014 $1,989,386 $493,639 What we are seeing and projecting: The 24.4% $441,258 2012‐2013 $1,805,673 previous 4 year average of actual receipts in 22.4% $1,968,383 the CI Fund 3 months into the year is 26.1%.
20.9% The City is currently at 24.8%. A large part of $389,473 2011‐2012 $1,866,003 the Capital Improvement Fund is funded with 19.3% $2,019,374 property tax dollars (19.3% of budget) and 26.0% $421,697 much of that revenue source will comer late in 2010‐2011 $1,624,330 23.2% the fiscal year. $1,813,764 33.0% $686,639 2009‐2010 $2,080,441 30.8% $2,225,747 $‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000
Capital Improvement Fund Expenditures YTD Expenditures Compared to Annual Budget Capital Improvement/Special Project (with 5 Year Comparison) CI Fund‐Expended thru Dec 31 Fund CI Fund‐Annual Budget Expenditures CI Fund‐Actual Expenditures
5.3% What we are seeing and projecting: The 4 $112,290 2013‐2014 $2,128,011 year average of actual expenditures this time $112,290 of year is 19.7% of budget. We are currently at 29.6% $536,039 5.3%. There is some degree of control over the 2012‐2013 $1,810,955 45.6% timing of expenditures in the Capital $1,176,113 Improvement Fund. Fund expenditures are for 3.5% $71,365 2011‐2012 $2,024,743 the City’s long term needs. The City is taking a 3.8% $1,888,071 conservative approach to expenditures within
17.7% $287,197 the fund, meeting critical capital needs. During 2010‐2011 $1,624,330 28.9% the budget process each capital item is listed $993,813 specifically. Even though the City has been able 27.8% $557,136 2009‐2010 $2,003,941 to relax a previous second review by senior 32.9% $1,691,006 staff, budgeted expenditures are still reviewed $‐ $800,000 $1,600,000 $2,400,000 $3,200,000 $4,000,000 closely.
Capital Improvement Fund Revenues and Expenditures YTD (with 5 Year Comparisons) CI Fund‐Collected thru Dec 31 CI Fund‐Expended thru Dec 31 Current Capital Impr Revenues and Expenditures
22.7% What we are seeing: Revenues are ahead of 2013‐2014 $493,639 $112,290 expenditures in the capital improvement fund. This has been typical, as displayed in the graph 121.5% 2012‐2013 $441,258 at the left. $536,039
18.3% What this means: The situation with excess 2011‐2012 $389,473 $71,365 revenues in the fund is a result of a cautious approach to budgeted expenditures and 68.1% 2010‐2011 $421,697 delaying purchases until necessary. $287,197
81.1% 2009‐2010 $686,639 $557,136 $‐ $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000
9 Water Fund Revenue YTD Collections Compared to Annual Budget (with 5 Year Comparison) Water Fund‐Collected thru Dec 31
Water Fund‐Annual Budget Water Fund Revenues Water Fund‐Actual Revenues
24.1% $2,303,498 2013‐2014 $9,573,212 What we are seeing and projecting: The
$2,303,498 previous 4 year average of revenue for the
23.1% month of December is 22.4%. We are currently $2,103,294 2012‐2013 $9,101,223 also at 24.1%. 23.5% $8,955,033 23.3% $2,100,596 What this means: The City will closely monitor 2011‐2012 $9,004,306 21.8% water user revenue to ensure we are able to $9,614,548 meet all bond covenants in relation to the bond 22.6% $1,992,991 issuance in previous years. 2010‐2011 $8,814,645 33.9% $5,879,409 20.5% $1,491,990 2009‐2010 $7,289,819 20.6% $7,230,790 $‐ $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000
Water Fund Expenditures YTD Expenditures Compared to Annual Budget (with 5 Year Comparison) Water Fund‐Expended thru Dec 31 Water Fund‐Annual Budget Water Fund‐Actual Expenditures
15.9% Water Fund Expenditures $1,558,774 2013‐2014 $9,786,385
$1,558,774 What we are seeing and projecting: The
38.6% historical average is 17.3% of budget for this $4,947,180 2012‐2013 $12,806,744 time of year. That excludes last year which is 43.8% $11,294,596 skewed because of an early pay off of debt. For 21.4% $2,250,325 2013‐2014, we are at 15.9%. 2011‐2012 $10,519,288 23.2% $9,715,617 Water Supply‐12.8% spent YTD 25.4% $5,586,336 PI‐7.8% spent YTD 2010‐2011 $22,029,202 30.2% Water Distribution‐19.5% spent YTD $18,512,367 5.1% Utility Billing‐19.4% spent YTD $1,327,114 2009‐2010 $25,884,819 9.6% $13,794,675 $‐ $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000
Water Fund Revenues and Expenditures YTD (with 5 Year Comparisons) Water Fund‐Collected thru Dec 31 Water Fund‐Expended thru Dec 31
67.7% 2013‐2014 $2,303,498 Current Water Revenues and $1,558,774 Expenditures
235.2% 2012‐2013 $2,103,294 What we are seeing: Currently, the Water $4,947,180 Fund has received more than expended. It is 107.1% still early in the City’s fiscal year cycle and may 2011‐2012 $2,100,596 $2,250,325 be too early to draw defined conclusions when comparing to earlier years. 280.3% 2010‐2011 $1,992,991 $5,586,336
88.9% 2009‐2010 $1,491,990 $1,327,114 $‐ $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000
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Wastewater Fund Revenue YTD Collections Compared to Annual Budget (with 5 Year Comparison) Wastewater Fund‐Collected thru Dec 31 Wastewater Fund‐Annual Budget Wastewater Fund‐Actual Revenues Wastewater Fund Revenues
35.5% $3,315,165 What we are seeing and projecting: The 2013‐2014 $9,339,189 $3,315,165 Wastewater Fund is at 35.5% three months, or 23.3% 25.0%, into the fiscal year. The prior 4 year $1,705,979 2012‐2013 $7,330,492 22.5% average of actual revenue for December is 20.2%. $7,568,887 A large portion of the increase over historical 13.1% $1,703,181 averages can be attributed to Municipal and 2011‐2012 $13,007,599 12.7% $13,460,248 Industrial customers that the City services. The 22.7% City will closely monitor revenue variances in this $1,443,324 2010‐2011 $6,352,023 100.0% fund, and adjust accordingly. $1,443,324 21.5% $1,558,263 2009‐2010 $7,247,472 25.6% $6,096,975 $‐ $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000
Wastewater Fund Expenditures YTD Expenditures Compared to Annual Budget Wastewater Fund Expenditures (with 5 Year Comparison) Wastewater Fund‐Expended thru Dec 31 Wastewater Fund‐Annual Budget What we are seeing and projecting: Wastewater Fund‐Actual Expend Expenditures in this fund are at 28.7% of budget 28.7% for the year. The historical average is 21.6% of 2013‐ $2,678,391 $9,339,189 2014 budget for this time of year. That average $2,678,391 excludes last year which is skewed because of an 57.6% 2012‐ $9,305,956 $16,162,016 early pay off of debt. This year is quite a bit higher 2013 58.9% $15,794,275 than the historical average because of
15.2% improvements which were done to a building that 2011‐ $1,974,753 $13,007,598 2012 16.3% was purchased last year. Budgeted improvements $12,136,331 of $550,000 were substantially completed in 20.5% 2010‐ $1,295,098 October. An overall increase in the effluent $6,326,531 2011 100.0% $1,295,098 processed is also a factor.
29.1% 2009‐ $2,331,872 $8,018,888 2010 30.1% Collection‐20.2% spent to date. $7,750,192 Treatment‐32.4% spent to date. $‐ $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000
Wastewater Fund Revenues and Expenditures YTD (with 5 Year Comparisons) Wastewater Fund‐Collected thru Dec 31 Wastewater Fund‐Expended thru Dec 31
80.8% 2013‐2014 $3,315,165 $2,678,391 Current Wastewater Revenues and Expenditures 545.5% 2012‐2013 $1,705,979 What we are seeing: $9,305,956 The Wastewater fund has more revenue than expenditures at this time of 115.9% year. It is still early in the City’s fiscal year cycle 2011‐2012 $1,703,181 $1,974,753 and may be too early to draw defined conclusions when comparing to earlier years. 89.7% 2010‐2011 $1,443,324 $1,295,098
149.6% 2009‐2010 $1,558,263 $2,331,872 $‐ $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000
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