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Home My WebLink AboutItem 4.05 PrelimBalSheet&IncomeStmnt e e CITY OF DUBLIN AGENDA STATEHENT CITY COUNCIL MEETING DATE~ August 22, 1994 SUBJECT : Preliminary Financial Report For The Month of July 1994. ~Prepared by: Paul S. Rankin, Assistant City Manager) EXHIBITS ATTACHED: 1. /!reliminary Balance Sheet and Income Statements for the Period Ending July 31, 1994 RECOMMENDATION: ~AccePt and file the report. FINANCIAL: See report for monthly financial activity. DESCRIPTION: This item provides a preliminary report of the monthly financial statement for the month of July 1994. The reason this report is stated as "preliminary" is that the final audited results of Fiscal Year 1993/94 are not available. It is anticipated that the Auditors will proceed with their remaining field work in the month of September. The final audit results will impact the Fund Balance figure presented in any 1994/95 monthly report, prior to formally closing the books for the previous fiscal year. The July 1994 report does not include any Fund Balance changes as the result of the Fiscal Year 1993/94 operations. For example, any General Fund revenues which exceeded the 1993/94 General Fund expenditures have not been carried forward to the 1994/95 Fund Balance. The financial computer program requires that all entries in the prior fiscal year be complete , prior to posting the change in fund balance. Staff anticipates that this process should allow the October financial report to reflect the actual Fund Balance. Consistent wi th previous reports the analysis which follows will focus on General Fund Revenues and Expenditures, which represent the most significant elements of the City'S operations. Given that this is only the first month of the 1994/95 Fiscal Year there is relatively limited data on which to base any major projections or trends. For example, the receipt of revenues does not typically follow an even distribution throughout the Fiscal Year. Major amounts of Sales Taxes and Property taxes are not received until later in the Fiscal Year. On the expendi ture side there will be a lag in billing for major services, which are provided by independent contractors. GENERAL FUND REVENUES OVerall, the General Fund revenues are performing comParable to the experience in the previous Fiscal Year. The City has collected approximately 3.5% of its 1994/95 budget as compared to 3.0% collected in July of 1993. Revenues which have contributed to the slight increase are as follows: Sales Tax advances have increased based upon the improving economic climate. Interest earnings are slightly higher given that the earnings have changed significantly from one year ago. Fines & Forfeitures have increased. This reflects the new Parking citation collection program, which was not fully implemented in July of 1993. This system is now in place and penalty paYments are collected in a more timely manner. Gains in the areas noted above were partially offset by the Buildinq permit category. In July of 1993 the Buildinq Department collected permit fees for the All Safe Storage project, which represented significant fees compared to permits issued in July 1994. ---------------------------------------------------------------------- ITEM NO. .!J. 'j COPIES TO: CITY CLERK FilE ~ e e GENERAL FUND EXPENDITURES ~ OVerall, in the month of July General Fund operating expenditures were 5.3% of the General Fund Budget and totalled $677,718. In comparison in July 1993 the City expended only $292,007 in General Fund operating expenses, which represented approximately 2.5% of the total General Fund operating expenditures for the year. The entire difference can be mostly attributed to the fact that in 1994 the Civic Center certificate of Participation (COP) financing provided for the deposit in July 1994 of a semi annual interest paYment. In 1993, the COP's were issued in the month of June and the interest was not paid until the following January. If you adjust July 1994 operating expenditures, to disregard the Facility Rental (COP PaYment) expense, the total General Fund operating expenditures for July 1994 would be $275,992. Expenditures for the first month are also affected due to vacancies in authorized full time positions. It is recommended that the City Council receive and file these reports as authorized by section 41004 of the California Government Code. e e CITY OF DUBLIN'S PRO FORMA FINANCIAL STATEMENTS FOR THE MONTH OF JULY 1994 (Submitted 8/22/94) Prepared by The Finance Department August 16, 1994 BGL102 e CITY OF DUBLnI e PAGE 1 8/16/94 BALAlICE SHEET 9.19.49 FOR THE PERIOD 7/94 THROUGH 7/94 GENERAL SPECIAL SPECIAL CAPITAL REVEIIUE REVENUE ASSESSMENT IMPROVEMENT FUNDS FUNDS FmmS FUNDS ASSETS CASH 855905.58- 409968.45 530084.72 42982.85- CASH WITH FISCAL AGENT 121210.04 UNAMORTIZED BOND DISCOUNT DIVESTIIElITS AT COST 18333041.49 RECEIVABLES:TAXES ACCOUNTS (nET) 184958.88 126776.05 110795.71 INTEREST 92947.20 ASSESSIlEUTS REnTS lIOTES DUE FROM OTHERS InVENTORY AT COST PREPAID ITEMS 2086.33 FIXED ASSETS AnomlTS TO BE PROVIDED 2232500.00 TOTAL ASSETS 17757128.32 536744 .50 2883794.76 67812.86 LIAB, FND BAl., RETUD EARnIlIGS DEPOSITS FOR PRIVATE DEVELPMnT 11125.68 DEPOSITS FOR AB1600 FEES 248798.46- DEPOSITS OTHERS 163656.18- 3125.00- PAYABLES:ACCOUNTS 35954.77- 9416.33- 2292.12- 18395.20- DITEREST PAYROLL 15770.35- DUE TO OTHERS 335.00- DEBT InSTRUMENTS PAYABLE 2790000.00- TOTAL LIABILTIES 204590.62- 9416.33- 2795417.12- 267193.66- FUND BALAlICES 17552537.70- 527328.17- 88377.64- 199380.80 TOTAL FUND EQUITY 17552537.70- 527328.17- 88377.64- 199380.80 TOTAL LIAB,FlID BAL, RETD EARlIS 17757128.32- 536744.50- 2883794.76- 67812.86- BGL102 e CITY OF DUBLIN e PAGE 1 8/16/94 BALANCE SHEET 9.20.06 FOR THE PERIOD 7/94 THROUGH 7/94 DITERlIAL ENTERPRISE FIXED ASSETS GEllERAL LOnG SERVICE FUllDS GROUP OF TERM DEBT FUND ACCOUNTS ACCOUNT GROUP ASSETS CASH 329181.80 911.72 CASH WITH FISCAL AGENT 1703318.53 UNAMORTIZED BOND DISCOUNT INVESTMENTS AT COST RECEIVABLES: TAXES ACCOUNTS (nE'r) INTEREST ASSESSMEnTS RENTS nOTES DUE FROM OTHERS INVENTORY AT COST PREPAID ITEMS 2878.60 FIXED ASSETS 165970.10 21582791.29 470014.62 AllOmlTS TO BE PROVIDED 2548360.41 TOTAL ASSETS 498030.50 23287021.54 470014.62 2548360.41 LIAB, FND BAL, RETND EARnINGS DEPOSITS FOR PRIVATE DEVELP~INT DEPOSITS OTHERS PAYABLES:ACCOUNTS InTEREST PAYROLL DUE TO OTHERS DEBT INSTRUMENTS PAYABLE 17615000.00- 2548360.41- TOTAL LIABILITIES 17615000.00- 2548360.41- FUND BALAlICE 329772.76- 562131.54- COUTRlBUTIONS 168257.74- 5109890.00- IIIVESTMENTS IN FIXED ASSETS 470014.62- RETAINED EARnINGS TOTAL FmlD EQUITY 498030.50- 5672021.54- 470014.62- TOTAL LIAB,FND BAL, RETD EARns 498030.50- 23287021.54- 470014.62- 2548360.41- BGL104 e TilE CI1'Y OF DUBLIN STATEMENT SOOWIlIG e PAGE 8/16/94 REVEnUES VERSUS EXPElIDITURE 8.47.18 FOR THE PERIOD 7/94 THROUGH 7/94 GENERAL REVENUE FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* PROPERTY TAXES 3849500.00- .00 3849500.00- SALES TAX 5892000.00- 177893.33- 3.0 5714106.67- REAL PROPERTY TRANSFERS 68500.00- .00 68500.00- TRAlISIENT OCCUPAlJCY TAX 90000.00- 23471.00- 26.1 66529.00- FRAlICHISE TAXES 479800.00- 7248.27- 1.5 472551. 73- LICElISES & PERMITS 361350.00- 18874.39- 5.2 342475.61- FINES & FORFEITURES 37500.00- 2990.55- 8.0 34509.45- USES OF MONEY AND PROPERTY 936100.00- 9078.16- .9 977021.84- INTERGOVERlIMEIITAL FROM STATE 970325.00- 90157.27- 9.3 880167.73- CHARGES FOR SERVICES 753180.00- 53301.90- 7.0 704878.10- OTHER SOURCES OF REVElIUE 120200.00- 93974.49- 78.2 26225.51- TOTAL REVENUE 13613455.00- 476989.36- 3.5 13136465.64- *******EXPENDITURES******* GENERAL GOVERNMElIT ACTIVITIES: NON-DEPARTMElITAL 54350.00 .00 54350.00 CITY counCIL 1010 120014.00 4836.89 4.0 115177.11 CITY MAllAGER 1020 258826.00 14726.19 5.7 244099.81 CITY ATTORnEY 1030 127170.00 .00 127170.00 ADMIN SERVICES 1040 446049.00 22249.45 5.0 423799.55 BUILDING MAlIAGEMElfT 1050 326490.00 4387.26 1.3 ,322102.74 FACILITY RENTAL 1050-719 1553744.00 401726.34 25.9 1152017.66 INSURANCE COST CElITER 1060 134000.00 106512.60 79.5 27487.40 ELECTIONS COST CENTER 1070 12475.00 .00 12475.00 ACTIVITY TOTAL 3033113.00 554433.73 18.3 2478679.27 PUBLIC SAFETY: POLICE 2010 3267668.00 669.21 3266998.79 ANUIAL CONTROL 2030 103750.00 .00 ' 103750.00 DISASTER PREAPREDNESS 2050 31133.00 82.41- .3- 31215.41 FIRE SERVICES JPA 2060 2756393.00 .00 2756398.00 ACTIVITY TOTAL 6158949.00 586.80 6158362.20 TRAlISPORTATION: PUBLIC WORKS 3010 288665.00 "12110.28 4.2 276554.72 STREET MAINTENANCE 3020 66459.00 .00 66459.00 STREET TREE MAINTENAlICE 3040 50040.00 .00 50040.00 STREET LANDSCAPE MAINT. 3050 164760.00 .00 164760.00 ACTIVITY TOTAL 569924.00 12110.28 2.1 557813.72 HEALTH & WELFARE: WASTE tlANAGEMEl1T 5020 27100.00 .00 27100.00 ACTIVITY TOTAL 27100.00 .00 27100.00 CULTURE & LEISURE SERVICES: LIBRARY SERVICES 8010 177536.00 .00 177536.00 CULTURAL ACTIVITIES 8011 10000.00 10000.00 100.0 .00 HERITAGE CEIITER 8012 26563.00 .00 26563.00 DUBLIN CEMETERY 8013 16680.00 750.00 4.5 15930.00 PARK MAINTENANCE 8020 591975.00 .00 591975.00 COMMUNITY CABLE TV 8030 22393.00 .00 22393.00 RECREATION ADMIN. 8040 175873.00 10266.85 5.8 165606.15 GL104 ~ CITY OF DUBLIN STATEMENT SHOWING e PAGE 2 8/16/94 REVElIUES VERSUS EXPENDITURE 3.47.18 FOR THE PERIOD 7/94 THROUGH 7/94 GENERAL REVElIUE FUND CURREI/T PERIOD BUDGET ACTUAL PERCENT VARIAl/CE PLAYGROUNDS 8045 92813.00 10786.43 11.6 82026.57 SllANNOlf CENTER 8050 112834.00 4089.65 3.6 108794.35 PRESCHOOL 8055 38469.00 2084.79 5.4 36384.21 TEENS PROGRAM 8060 29151.00 323.22 2.8 28327.78 ADULT SPORTS 8065 92673.00 2225.09 2.4 90447.91 YOUTH SPORTS 8066 34645.00 2355.54 6.8 32289.46 SPECIAL EVENTS 8070 30968.00 1149.33 3.7 29818.67 SENIOR CENTER 8080 106746.00 6278.79 5.9 100467.21 RECREATION INSTRUCTION 8090 80899.00 3135.76 3.9 77763.24 AQUATICS 8100 196424.00 19888.67 10.1 176535.33 ACTIVITY TOTAL 1836692.00 73834.12 4.0 1762857.88 'COMMUlIITY DEVELOPMElIT: PLANNING 9010 602689.00 24396.73 4.0 578292.27 BUILDING SAFETY 9020 265001.00 3623.24 1.4 261377.76 ENGIlIEERING 9030 199306.00 8724.00 4.4 190582.00 ECONOMIC DEVELOPMENT 9040 74622.00 4.05 74617.95 ACTIVITY TOTAL 1141618.00 36748.02 3.2 1104869.98 CAPITAL IMPROVEMENT PROJECTS: GENERAL CIP PROJECTS 93NN 57015.00 .00 57015.00 COt.rnUNITY I~WROVEMENTS 94NN 50000.00 2830.46 5.7 47169.54 PARKS 95Nl/ .00 .00 .00 STREET CONSTRC/IMPROVMT 96nN .00 .00 .00 ACTIVITY TOTAL 107015.00 2830.46 2.6 104184.54 TOT A L EXPENDITURES 12874416.00 680543.41 5.3 12193867.59 EXCESS <REVENUE>EXPENDITURES 739039.00- 203559.05 27.5- 942598.05- TRANSFERS OUT TO OTHER FunDS .00 .00 .00 EXCESS <REVENUE> EXPENDITURE 739039.00- 203559.05 27.5- 942598.05- BGLl04 _E CITY OF DUBLIN STATEMENT SHOWnlG e PAGE 1 8/16/94 REVElIUES VERSUS EXPENDITURE 3.51.01 FOR THE PERIOD 7/94 THROUGH 7/94 SPECIAL REVEllUE FOlIOS CURRENT PERIOD BUDGET ACTUAL PERCENT VARIAlICE ********REVENUES******* SALES TAX 116000.00- 8380.86- 7.2 107619.14- FINES & FORFEITURES 31900.00- 2146.07- 6.7 29753.93- USES OF MONEY AND PROPERTY 35800.00- .00 35800.00- INTERlIGOVERtIMENTAL FROM STATE 611354.00- .00 ' 611854.00- IIITERGOVERNMENTAL FROM COUNTY 150000.00- .00 150000.00- IIITERGOVERNMElITAL FROM FEDERAL 2329428.00- .00 2329428.00- CHARGES FOR SERVICES 697356.00- .00 697356.00- OTHER SOURCES OF REVElIUE 16000.00- .00 16000.00- TOTAL REVENUE 3988338.00- 10526.93- .3 3977811.07- *******EXPEnDITURES******* GElIERAL GOVERNMENT ACTIVITIES: CITY COUNCIL .00 .00 .00 ACTIVI'l'Y TOTAL .00 .00 .00 PUBLIC SAFETY: POLICE 12350.00 .00 12350.00 TRAFFIC SIGNALS 90790.00 .00 90790.00 ACTIVITY TOTAL 103140.00 .00 103140.00 TRAlISPORTATIOlf: PUBLIC WORKS 526.00 .00 526.00 STREET IIAIlITENAl/CE 215050.00 .00 215050.00 STREET SWEEPnlG 73360.00 .00 73360.00 ACTIVITY TOTAL 288936.00 .00 288936.00 HEALTH & WELFARE: WASTE IIAlIAGEI1ENT 640137.00 7500.48 1.2 632636.52 CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: EnGINEERING 113450.00 2614.41 2.3 110835.59 ACTIVITY TOTAL 113450.00 2614.41 2.3 110835.59 CAPITAL IMPROVEMEnT PROJECTS: GEnERAL CIP PROJECTS 17269.00 .00 17269.00 COMMUNITY IMPROVEMENTS 177525.00 .00 177525.00 PARKS 29895.00 .00 29895.00 STREET CONSTRUCTION/IMPROv~T 2473466.00 1264.00 .1 2472202.00 ACTIVITY TOTAL 2698155.00 1264.00 2696891.00 TOT A L EXPENDITURES 3843818.00 11378.89 .3 38)2439.11 EXCESS <REVENUE>EXPENDITURE 144520.00- 851.96 .6- 145371. 96- TRA1ISFERS IN FROM OTHER FUlIDS .00 .00 .00 EXCESS <REVENUE> EXPENDITURE 144520.00- 851. 96 .6- 145371. 96- BGLlO4 ~ CITY OF DUBLIN STATEMENT SHOWING e PAGE 1 8/16/94 REVENUES VERSUS EXPENDITURE 9.03.35 FOR THE PERIOD 7/94 THROUGH 7/94 SPECIAL ASSESSMElI'l' FUNDS CURREUT PERIOD BUDGET ACTUAL PERCENT VARIAl/CE ********REVENUES******* SPECIAL BENEFITS ASSESSMENTS 288265.00- .00 288265.00- USES OF MONEY AlID PROPERTY 15000.00- .00 15000.00- OTHER SOURCES OF REVENUE 5725.00- .00 5725.00- TOTAL REVENUE 303990.00- .00 308990.00- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: 1I0l1- D EP ARTI~EIIT AL .00 .00 .00 ACTIVITY TOTAL .00 .00 .00 PUBLIC SAFETY: TRFC SIGS/STREET LIGHTING 199025.00 1285.84 .6 197739.16 ACTIVI'l'Y TOTAL 199025.00 1285.84 .6 197739.16 TRANSPORTATIOU: PUBLIC WORKS 5632.00 425.67 7.6 5206.33 STREET TREE IIAINTENAnCE 9890.00 .00 9890.00 STREET LAlIDSCAPE MAIIITENANCE 109940.00 .00 109940.00 ACTIVITY TOTAL 125462.00 425.67 .3 125036.33 HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: ENGIllEERING 4120.00 .00 4120.00 ACTIVITY TOTAL 4120.00 .00 4120.00 CAPITAL IMPROVEMENT PROJECTS: STREET COIISTRUCTIOlI/HIPROVMT 400000.00 .00 400000.00 ACTIVITY TOTAL 400000.00 .00 400000.00 TOT A L EXPEIIDITURES 728607.00 1711. 51 .2 726895.49 EXCESS<REVElIUE> EXPEIIDITURE 419617.00 1711.51 .4 417905.49 EXCESS <REVENUE> EXPENDITURE 419617.00 1711.51 .4 417905.49 BGL104 ~ CITY OF DUBLIN STATEMENT SHOWING e PAGE 1 8/16/94 REVElIUES VERSUS EXPENDITURE 9.15.49 FOR THE PERIOD 7/94 THROUGH 7/94 CAPITAL IMPROVEMEI1T Fmm CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* USES OF MONEY AND PROPERTY .00 .00 .00 OTHER SOURCES OF REVEnUE 711509.00- .00 711509.00- TOTAL REVElIUE 711509.00- .00 711509.00- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: ACTIVITY TOTAL .00 .00 .00 PUBLIC SAFETY: TRANSPORTATIOJl: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: CAPITAL IMPROVEMENT PROJECTS: CO~mUNITY IMPROVEMENTS .00 .00 .00 STREET CONSTRUCTION/I~UPROVMT 431509.00 495.46 .1 431013.54 ACTIVITY TOTAL 431509.00 495.46 .1 431013.54 TOT A L EXP~~DITURES 431509.00 495.46 .1 431013.54 EXCESS<REVENUE>EXPENDITURE 280000.00- 495.46 .2- 280495.46- EXCESS <REVEIIUE> EXPENDITURE 280000.00- 495.46 .2- 230495.46- BGLlO4 ~ CITY OF DUBLIN STATEMElIT SHOWING e PAGE 1 8/16/94 REVENUES VERSUS EXPENDITURE ;...... 9.07.18 FOR THE PERIOD 7/94 THROUGH 7/94 IlITERlIAL SERVICE FOlIO CURREnT PERIOD BUDGET ACTUAL PERCENT VARIAl/CE ********REVENUES******* USES OF MONEY AND PROPERTY 11600.00- .00 11600.00- CHARGES FOR SERVICES 124603.00- .00 124608.00- OTHER SOURCES OF REVENUE .00 .00 .00 TOTAL REVENUE 136208.00- .00 136208.00- *******EXPENDITURES******* GElIERAL GOVERnMENT ACTIVITIES: NON-DEPARTMENTAL 230233.00 4618.91 2.0 225614.09 ACTIVITY TOTAL 230233.00 4618.91 2.0 225614.09 PUBLIC SAFETY: TRANSPORTATIOlI: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMElIT: CAPITAL I~WROVEMENT PROJECTS: TOT A L EXPENDITURES 230233.00 4618.91 2.0 225614.09 EXCESS<REVENUE> EXPElfDITURE 94025.00 4618.91 4.9 89406.09 EXCESS <REVENUE> EXPElfDITURE 94025.00 4618.91 4.9 89406.09 BGLl04 ~ CITY OF DUBLIN STATEMENT SHOWING e PAGE 1 8/16/94 REVENUES VERSUS EXPElIDITURE 12.26.44 FOR THE PERIOD 7/94 THROUGH 7/94 ENTERPRISE FUNDS CURRENT PERIOD BUDGET ACTUAL PERCENT VARIAl/CE ********REVElIUES******* USES OF MONEY AND PROPERTY 1658112.00- 405931.29- 24.5 1252180.71- TOTAL REVENUE 1658112.00- 405931.29- 24.5 1252180.71- *******EXPENDITURES******* GENERAL GOVERNMEIIT ACTIVITIES: lIOII-DEPARTIlEUTAL 1553784.00 75728.63 4.9 1478055.37 ADMIN SERVICES 13870.00 .00 13870.00 ACTIVITY TOTAL 1567654.00 75728.63 4.8 1491925.37 PUBLIC SAFETY: DISASTER PREAPREDNESS 1150.00 .00 1150.00 ACTIVITY TOTAL 1150.00 .00 1150.00 TRAlfSPORTATIOlI: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: RECREATION ADMIlIISTRATION 10180.00 967.67 9.5 9212.33 SEllIOR CElITER 463.00 250.00 54.0 213 .00 ACTIVITY TOTAL 10643.00 1217.67 11. 4 9425.33 COMMUNITY DEVELOPMENT: CAPITAL IMPROVEMENT PROJECTS: TOT A L EXPENDITURES 1579447.00 76946.30 4.9 1502500.70 EXCESS<REVElIUE> EXPENDITURES 78665.00- 328934.99- 413.2 250319.99 EXCESS <REVENUE> EXPENDITURE 78665.00- 328984.99- 418.2 250319.99