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HomeMy WebLinkAboutItem 4.09 PrelFinReportAug99CITY CLERK FILE # 0330-50 AGENDA STATEMENT CITY COUNCIL MEETING DATE: (October 5, 1999) SUBJECT: EXHIBITS ATTACHED: RECOMMENDATION: ~/Lt FINANCIAL STATEMENT: Preliminary Financial Report For the Month of August 1999 Report Prepared by: Fred Marsh, Finance Manager Pro Forma Balance Sheet and Income Statements for the Period Ending August 31, 1999 Accept and file the reports. See reports for detail of monthly financial activity. DESCRIPTION: This item provides the report of the preliminary financial statements for the month of August. The reason that the report is presented as "preliminary" is that the final audited results of Fiscal Year 1998/99 are not yet available. Consistent with prior reports. the focus will be on General Fund Revenues and Expenditures, which represent the most significant portion of the City's operations. f"- Preliminary Reporting of Information "' The auditors have just completed the final phase of their field work necessary for the 1998/99 audit. The final audit results will impact the reported Fund Balance presented in the attached monthly reports. Staff has already made the final year end accrual for sales tax, and anticipates the final entries will occur by the October report. The scope of any remaining final entries will not be significant when compared to all general fund revenues and expenses. Analysis of Preliminarv August 1998 Revenue and Expenditure Report Given that this is only the second month of the 1999/2000 Fiscal Year, there is extremely limited data on which to base any major projections or identify: significant trends. For example the receipt of revenues does not typically follow an .even distribution throughout the Fiscal Year. Major amounts of Property Taxes and Sales Taxes are not received until later in the Fiscal Ye~. There is also a lag with the reporting of expenditures due to the significant amount of services provided~to the City by independent contractors. General Fund Revenues Total General Fund Revenues collected through August are Comparable to what occurred in the second month of the previous Fiscal Year. The City had collected through August 1999 approximately 10% of the total budgeted General Fund Revenues compared to approximately 11% in the prior Fiscal Year. Licenses and Permits are lower than in the same period in the prior year due to a decrease in the valuation of building permits issued during the first two months of Fiscal Year 1999/2000. Interest and Rentals is lower than in the same period in the prior year due to timing differences and a lower cash balance. /--'-Initially all interest revenue is recorded in the General Fund and allocated to other funds on a pro rata ~ basis at year end. COPIES TO: G:MNIONTHFS\0899 agenda statement month ~nancials.doc ITEM NO. Intergovernmental Revenue is higher than in the same period in the prior year due to an increase in the~ allocation of State Motor Vehicle In Lieu Fees from the State. Based upon the limited information available there were not any areas with significant deviations from the current budget projections. General Fund Expenditures Overall, through the month of August expenditures in the 'General Fund totaled $1,642,170 and represented approximately 7% of the total budgeted expenditures in the General Fund. Of this amount, a total of $11,120 was related to Capital Improvement Projects and the remainder was related to Operating Costs reported in the General Fund. Capital Project expenditures typically do not follow an even distribution due to differences in project timing. In looking at only General Fund Operating Expenditures, the activity through August 1999 was comparable to the amounts expended for the same period in the prior Fiscal Year. As of August 31, 1999, the City had expended 8% of the General Fund Operating Budget compared to 10% in the prior Fiscal Year. As previously noted there are some timing differences with payment for contract services, which complicate comparisons between one year to the next. All expenditures to date are within the authorized budget. It is recommended that the City Council receive and file these reports as authorized by Section 41004 of the California Government Code. City of Dublin 1999-2000 YTD Revenues and Budget Comparison For the Period Ending August 31, 1999 - Unaudited Total General Fund Revenues Property Taxes Sales Taxes 10% _V=~11% 1% 14% -- 15% Transient 8% Occupancy Taxes __ 8% 5% Franchise Taxes _~ 4% Licenses and Permits ~o/~ o ' ~24Vo 2% Interest and Rentals ,..~ 9% Intergovernmental 18% from State -- 16%; Charges for Services Other Revenues 7% -- 7% 10%. ~200/~° · FY 1999/2000 ~ FY 1998/1999 0% 30% 60% 90% 17% of Year Complete 120% 150% Property Taxes Sales Taxes Transient Occupancy Taxes Franchise Taxes Licenses and Permits Interest and Rentals intergovernmental Charges for Services Other Revenues Total General Fund Revenues FY 1999~2000 Budget 5,643,600 9,200,000 580,000 872,400 3,041,520 1,223,214 1,373,450 3,917,844 842,301 26,694,329 FY 1999/2000 % of YTD Actual Budget 64,945 1% 1,319,500 14% 48,022 8% 39,729 5% 491,041 16% 20,098 2% 243,943 18% 265,519 7% 81,939 10% 2,574,736 10% FY 98199 YTD Actual 49,454 1,284,200 29,438 37,242 590,379 123,792 '212,689 243,965 50,521 2,621,680 % of Total for FY 98~99 1% 15% 8% 4% 24% 9% 16% 7% 20% 11% ATTACHMENT 1 City of Dublin 1998-99 YTD Expenses and Budget Comparison For the Period Ending August 31, 1999 - Unaudited Total General Fund Expenses 7% __ 10% General Government !110~o% Civic Center Lea(~/° 121%~ 1% Police 1% Fire ~!/ll!ll:15o7/~/° Other Public Safety ~~o/~o Transportation Health and Welf4;o/° Culture & Community Services 5% __ 7% 9% __ 12% 7% Community Development __ 7% Capital Improy. Projec0t~/° ] 7% · FY 1999/2000 ~: [] FY 1998/19991 0% 30% 60% 90% 120% 17% of Year Complete General Government Civic Center Lease Police Fire Other Public Safety Transportation Health and Welfare Culture and Community Services Community Development Capital Improvement Projects Total General Fund Expenses General Fund Operating Expenses FY 1999~2O00 Budget 2,505,022 4,986,704 4,209,712 208,427 827,008 18,860 2,990,737 4,951,491 2,652,717 23,350,678 20,697,961 FY 1999/2000 % of YTD Actual Budget 243,708 10% 52,592 1% 698,684 17% 3,234 2% 39,789 5% 0% 254,849 9% 338,194 7% 11,120 0% 1,642,170 7% FY 98199 YTD Actual 264,411 346,062 56,756 634,316 5,209 50,778 275,714 239,082 126,365 1,998,693 1,631,050 8% 1,872,328 % of Total for FY 98~99 12% 21% 1% 15% 3% 7% 0% 12% 7% 7% 10% 10% ATTACHMENT 2 CITY OF DUBLIN'S FINANCIAL STATEMENTS FOR THE MONTH OF AUGUST 1999 Prepared by -The Finance Department September 27, 1999 ATTACHMENT 3 City of Dublin General Fund Income Statement Showing Revenues Versus Expenditures For the Period 7~99 Through 8~99 Revenues Property Taxes Sales Taxes Real Property Transfer Tax Hotel Transient Occupancy Tax Franchise Taxes Licenses and Permits Fines and Forfeitures Use Money and Property - Interest Use Money and Property - Rentals Intergovernmental from State Charges for Services Other Sources of Revenue Total Revenue Current Current Prior Budget Actual % Variance Fiscal Year 5,346,600 48,336 1% 5,298,264 4,866,093 9,200,000 1,319,500 14% 7,880,500 8,687,091 297,000 16,609 6% 280,391 282,733 580,000 48,022 8% 531,978 389,664 872,400 39,729 5% 832,671 849,959 3,041,520 491,041 16% 2,550,479 2,472,217 57,200 11,894 21% 45,306 60,876 1,128,164 9,642 1% 1,118,312 1,262,400 95,060 10,256 11% 84,804 90,539 1,373,450 243,943 18% 1,129,507 1,356,234 3,917,644 265,519 7% 3,652,325 3,482,983 785,101 70,045 9% 715,056 250,889 26,694,329 2,574,736 10% 24,119,593 24,051,678 Prior YTD 49,454 1,284,200 29,438 37,242 590,379 7,291 111,443 12,349 212,689 243,965 43,230 2,621,680 1% 15% 8% 4% 24% 12% 9% 14% 16% 7% 17% 11% Variance 4,816,639 7,402,891 282,733 360,226 812,717 1,881,838 53,585 1,150,957 78, 190 1,143,645 3,239,018 207,659 21,429,998 Expenditures Geheral Government City Council 150,305 15,442 10% 134,863 145,936 18,715 13% 127,221 City Manager 376,735 41,723 11% 335,012 331,437 53,138 16% 278,299 Central Services 222,712 16,463 7% 206,249 City Attorney 300, 140 730 299,410 310,558 465 310,093 Administrative Services 721,174 64,085 9% 657,089 687,654 100,278 15% 587,376 Building Management 550,831 27,278 5% 523,553 531,167 11,998 2% 519,169 Facility Rental 1,614,407 346,062 21% 1,268,345 Insurance Cost Center 152,185 77,987 51% 74,198 125,622 79,753 63% 45,869 Elections Cost Center 940 940 6,335 64 1% 6,271 Non Departmental 30,000 30,000 1,029 1,029 Activity Total 2,505,022 243,708 10% 2,261,314 3,754,145 610,473 16% 3,143,672 Public Safety Police Crossing Guards Animal Control Disaster Preparedness Fire Services Activity Total Transportation Public Works Street Maintenance Street Sweeping Street Tree Maintenance Street Landscaping Maintenance Activity Total 56,756 5,209 634,316 696,28! 45,766 5,012 50,778 Health and Welfare Waste Management Child Care Activity Total 4,986,704 52,592 1% 4,934,112 4,505,598 54,760 64,760 51,697 118,735 118,735 104,137 34,932 3,234 9% 31,698 35,022 4,209,712 698,684 17% 3,511,028 4,109,003 9,494,843 764,510 8% 8,650,333 8,805,457 1% 15% 15% 8% 12% 2% 7% 411,653 39,662 10% 371,991 389,595 500 500 112,085 98,580 98,580 46,320 46,320 49,395 269,955 127 269,828 225,855 827,008 39,789 5% 787,219 776,930 6,860 6,860 4,969 12,000 12,000 12,000 18,860 18,860 16,969 4,448,842 51,697 104,137 29,813 3,474,687 8,109,176 343,829 112,085 49,395 220,843 726,152 4,969 12,000 16,969 City of Dublin General Fund Income Statement Showing Revenues Versus Expenditures For the Period 7~99 Through 8~99 Culture and Leisure Services Library Services Cultural Activities Hedtage Center Dublin Cemetery Park Maintenance Community 'IV Recreation Admin Playgrounds Shannon Center Preschool Teens Program Adult Sports Youth Sports Community Gym Special Events Senior Center Recreation Instruction Aqua!ics Parks / Facility Management Activity Total Community Development Planning Building Safety Engineering Economic Development Activity Total Capital Improvement Projects General CIP Projects Community Improvements Parks Street Construction I Improvements Activity Total Total Expenditures Excess Revenues (Expenditures) Transfers In From Other Funds Transfers Out From Other Funds Appropriations to Reserves Current Current Prior Budget Actual % Variance Fiscal Year 309,558 35,785 55,074 5,475 10% 22,397 757,818 699 71,886 42,986 60% 280,456 31,797 11% 145,318 24,411 17% 201,388 14,861 7% 48,586 5,148 11% 77,163 4,166 5% 75,330 5,428 7% 62,015 16,451 27% 37,360 231,573 14,538 6% 117,744 11,024 9% 114,863 13,769 12% 256,508 55,231 22% 89,915 8,865 10% 2,990,737 254,849 9% 984,662 113,413 12% 1,105,134 86,339 8% 2,549,357 79,232 3% 312,338 59,210 19% 4,951,491 338,194 7% 1,438,238 7,471 1% 293,720 68 762,410 756 158,349 2,825 2% 2,652,717 11,120 23,350,678 1,642,170 7% 3,343,651 932,566 28% 27,600 -931,296 2,439,955 932,566 38% 309,558 35,785 49,599 22,397 757,119 28,900 248 659 120 907 186 527 43438 72 997 69 902 45 564 37 360 217,035 106,720 101,094 201,277 81,050 2,735,888 871,249 1,018,795 2,470,125 253,128 4,613,297 1,430,767 293,652 761,654 155,524 2,541,597 21,708,508 2,411,085 27,600 -931,296 1,507,389 255,689 20,000 43,004 15,010 533,105 58,047 264,382 137,577 164,647 49,314 44,993 60,291 63,730 105,170 99,729 115,191 218,802 2,248,581 1,010,015 795,025 1,685,599 115,762 3,606,401 252,013 63,272. 1,110,364 353,570 1,779,159 20,987,542 3,064,036 39,874 -12,219,723 -9,115,813 Prior YTD 20,00O 5,834 30 13,891 18 39,225 31,670 17,085 7,670 3,884 10,431 10,725 7,186 12,282 30,812 64,971 275,714 116,087 22,123 85,266 15,606 239,082 2,446 123,361 558 126,365 1,998,693 622,987 622,987 100% 14% 3% 15% 23% 10% 16% 9% 17% 17% 7% 12% 27% 30% 12% 11% 3% 5% 13% 7% 4% 11% 7% 10% 20% Variance 255,689 37,170 14,980 519,214 58,029 225,157 105,907 147,462 41,644 41,109 49,860 53,005 97,964 87,447 64,379 153,831 1,972,867 893,928 772,902 1,600,333 100,156 3,367,319 252,013 60,826 986,943 353,012 1,652,794 18,988,949 2,441,049 GENERAL REVENUE FUNDS CITY OF DUBLIN BALANCE SHEET FOR THE PERIOD ENDING 31Aug99 SPECIAL SPECIAL CAPITAL TRUST/ REVENUE ASSESSMENT IMPROVEMENT AGENCY FUNDS FUNDS FUND FUND TOTALS ---MEMORANDUM ONLY--- CURRENT PRIOR ASSETS CASH CASH WITH FISCAL AGENT UNAMORTIZED BOND DISCOUNT (17.960.549) INVESTMENTS AT COST RECEIVABLES: TAXES ACCOUNTS (NE INTEREST ASSESSMENTS 36.979.018 149,497 205.076 DUE FROM OTHERS INVENTORY AT COST ' PREPAID ITEMS FIXED ASSETS AMOUNT TO BE PROVIDED TOTAL ASSETS 5.849 7.513 19,386.403 LIAL/FND BAL/RETND ERNGS DEPOSITS FOR PRIVATE DEVEL (889.373) DEPOSITS FOR AB1600 FEES DEPOSITS OTHERS (455.233) PAYABLES: ACCOUNTS (353.324) INTEREST PAYROLL" (219,158) DUE TO OTHERS (41,925) DEFERRED REVENUE (149,497) DEBT INSTRUMENTS PAYABLE TOTAL LIABILITIES (2.108.510) FUND BALANCES (17.277.893) TOTAL FUND E (17,277.893) TOTAL LIAB. FND BAL. RETD (19.386.403) 1.605.195 118.278 78.048 1.801,521 (78.883) (78,883) (1,722,638) (1.722,638) (1.801.521) 307.258 15.362.497 307.258 15.362.497 30.808 (654.791) (8.211.129) 149.763 149.763 149.763 36,979.0t8 267.775 205,076 1,860.500 2.041.071 83.897 7.5t3 1,860.500 38.898.750 (889,373) (15.227.996) (15,227,996) (455.233) (5.722) (37.317) (475.246) ' (219,158) (4t.925) (5.849) (155.346) (1,978.000) (1,978,000) (5,722) (15.271,162) (1.978,000) (19.442.278) (301.536) (91,336) (63.071) (19.456,472) (301.536) (91.336) (63,071) (19.456,472) (307,258) (15.362.497) (2.041.071) (38.898.750) 34.556,969 676.886 502.727 212.897 7,027 1.860.500 29,755.640 (498.812) (4,882,178) (468.866) (2.895,909) (309,574) (150,963) (155.346) (1.978.000) (11,339.647) (18,415.993) (18.415.993) (29.755.640) INTERNAL SERVICE FUNDS ENTERPRISE FUNDS CITY OF DUBLIN BALANCE SHEET FOR THE PERIOD ENDING 31Aug99 FIXED ASSETS GROUP OF ACCOUNTS GENE~L LONG TERM DEBT ACCOUNT GROUP TOTALS - - -MEMO~NDUM- - - CURRENT PRIOR ASSETS CASH CASH WITH FISCAL AGENT UNAMORTIZED BOND DISCOUNT 1.074.186 INVESTMENTS AT COST RECEIVABLES: TAXES ACCOUNTS (NE INTEREST ASSESSMENTS DUE FROM OTHERS INVENTORY AT COST PREPAID ITEMS FIXED ASSETS AMOUNT TO BE PROVIDED TOTAL ASSETS ~,--, LIAL/FND BAL/RETND ERNGS 19.491.955 20.566.141 DEPOSITS FOR PRIVATE DEVEL DEPOSITS FOR AB1600 FEES DEPOSITS OTHERS PAYABLES: ACCOUNTS (1.728) INTEREST PAYROLL DUE TO OTHERS DEFERRED REVENUE DEBT INSTRUMENTS PAYABLE TOTAL LIABILITIES (1.728) FUND BALANCES (20.564.414) TOTAL FUND E (20.564,414) TOTAL LIAB. FND BAL. RETD (20.566,141) 6.388.993 6.388.993 (6,388.993) (6.388.993) (6,388.993) 26.990.254 26,990.254 26.990,254) 26,990:254) 26.990.254) 1,074.186 25,880,948 26.990.254 53.945,388 (1,728) (26.990.254) (26.991.981) (26.953.407) (26,953.407) (53.945.388)