HomeMy WebLinkAboutItem 4.4 - 3445 Fiscal Year 2020-21 1st Quarter Financial R (2)
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STAFF REPORT
CITY COUNCIL
DATE: November 3, 2020
TO: Honorable Mayor and City Councilmembers
FROM:
Linda Smith, City Manager
SUBJECT:
Fiscal Year 2020-21 1st Quarter Financial Review
Prepared by: Lisa Hisatomi, Director of Administrative Services
EXECUTIVE SUMMARY:
The City Council will receive a financial report through the first quarter for Fiscal Year
2020-21 and consider amendments to the Fiscal Year 2020 -21 Budget via a budget
change.
STAFF RECOMMENDATION:
Receive the report and approve the budget change, as well as budgetary changes to
the Capital Improvement Program.
FINANCIAL IMPACT:
Approval of the budget change will allow for minor adjustments to the risk management
budget, and approval of the updated Capital Improvement Program project budgets will
shift expenditures among several projects. Total General Fund reserves are projected at
$177,695,375 by June 30, 2021.
DESCRIPTION:
The focus of this report is the Fiscal Year 2020 -21 General Fund Amended Budget. The
Amended Budget includes any budget amendments already approved by the City
Council since July 1, 2020, as well as carry-over budgets from Fiscal Year 2019-20. The
Budget Change Form (Attachment 3) lists all new amendments needing City Council
approval.
Based on the current information available, Staff is not recommending any change to
the revenue estimates.
On the operating expenditure side, Staff is recommending an increase of $86,000 in the
risk management program to cover higher insurance premiums as part of the City’s
participation in Plan JPA. In addition, Staff is recommending the utilization of General
Fund designated reserves to fund the budget gap in the Cultural Arts Center project as
discussed with the City Council on May 19, 2020.
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The General Fund Summary (Attachment 1) incorporates the recommended changes.
Following these changes, total General Fund Reserves are projected at $177,695,375
by the end of the fiscal year, as shown in the table below. The General Fund Reserves
Summary (Attachment 2) provides a detailed allocation of the reserves.
Total Projected Reserves, FY 2019-20 and FY 2020-21
Projected
FY 2019-20
Amended
FY 2020-21 Q1 Change
New Amended
FY 2020-21
Total Reserves, Beginning of Year $171,225,773 $190,649,224 $190,649,224
Revenues 102,909,631 92,767,510 92,767,510
Expenditures (74,251,883)(81,684,664)(86,000)(81,770,664)
Total GF Impact (Prior to Carryovers)$28,657,748 $11,082,846 ($86,000)$10,996,846
Operating Carryovers from Prior Year (2,135,147)(2,135,147)
Total GF Impact (After Carryovers)$28,657,748 $8,947,699 ($86,000)$8,861,699
Transfers/Contributions
Contribution to PERS/OPEB (3,000,000)(3,000,000)
Transfers to CIPs/ISF (9,234,298)(2,731,570)(5,751,831)(8,483,401)
CIP Carryovers from Prior Year (10,332,147)(10,332,147)
Total Transfers & Contributions ($9,234,298)($16,063,717)($5,751,831)($21,815,548)
Total Reserves, End of Year $190,649,224 $183,533,206 ($5,837,831)$177,695,375
Change to Reserve from Prior Year ($12,953,848)
Capital Improvement Program (CIP) Projects and Administrative Items
Staff is requesting the City Council’s approval to amend the budget for the following:
• Revise the five-year CIP for Cultural Arts Center (Attachment 4), Civic Center
HVAC & Roof Replacement (Attachment 5), and Civic Center Rehabilitation
(Attachment 6) to reflect budget shifts to fully fund the Cultural Arts Center
project.
The shifts are in accordance with the City Council’s approval of the project at the
May 19, 2020 meeting. Since the design of the Cultural Arts Center incorporates
HVAC and roofing work, which overlaps with the Civic Center HVAC and Roof
Replacement project, Staff recommended shifting approximately $2.0 million
from the two CIPs to the Cultural Arts Center project. As the funds to be shifted
are from future years, an update of the five-year CIP is required with the City
Council’s approval.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
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1. General Fund Summary FY 2020-21 Q1
2. General Fund Reserves FY 2020-21 Q1
3. Budget Change Form
4. Cultural Arts Center 2020-2025 Update
5. Civic Center HVAC & Roof Replacement 2020-2025 Update
6. Civic Center Rehabilitation 2020-2025 Update
PRELIMINARY GENERAL FUND SUMMARY - Q1 FY 2020-21
Actual
2019-20
Adopted
Budget
2020-21
Amended
Budget
2020-21
Q1
Adjustment
New Amended
2020-21
Revenues
Property Tax $49,086,335 $48,896,000 $48,896,000 $48,896,000
Sales Tax 21,439,886 19,595,050 19,595,050 19,595,050
Sales Tax Reimbursements (407,431)(610,000)(610,000)(610,000)
Development Revenue 6,716,056 6,951,077 6,951,077 6,951,077
Transient Occupancy Tax 1,567,987 1,000,000 1,000,000 1,000,000
Other Taxes 5,712,336 5,676,387 5,676,387 5,676,387
Licenses & Permits 236,972 238,506 238,506 238,506
Fines & Penalties 85,128 107,432 107,432 107,432
Interest Earnings 3,652,445 1,600,000 1,600,000 1,600,000
Rentals and Leases 974,392 1,329,966 1,329,966 1,329,966
Intergovernmental 306,425 250,000 250,000 250,000
Charges for Services 5,644,465 6,222,359 6,222,359 6,222,359
Other Revenue 1,374,275 1,077,242 1,454,133 1,454,133
Subtotal Revenues - Operating $96,389,272 $92,334,019 $92,710,910 $0 $92,710,910
Transfers In $87,098 $56,600 $56,600 $56,600
Unrealized Gains/Losses 6,433,261 0
Total Revenues $102,909,631 $92,390,619 $92,767,510 $0 $92,767,510
Expenditures
Salaries & Wages $10,978,176 $11,886,262 $11,886,262 $11,886,262
Benefits 4,890,980 5,016,611 5,016,611 5,016,611
Services & Supplies 2,928,191 3,892,942 3,958,425 86,000 4,044,425
Internal Service Fund Charges 2,977,333 3,685,246 3,685,246 3,685,246
Utilities 2,427,310 2,925,055 2,925,151 2,925,151
Contracted Services 46,071,154 53,053,169 55,426,029 55,426,029
Capital Outlay 3,959,753 397,883 719,482 719,482
Contingency & Miscellaneous 18,987 222,605 202,605 202,605
Subtotal Expenditures - Operating $74,251,883 $81,079,773 $83,819,811 $86,000 $83,905,811
Operating Impact (REV-EXP)$22,137,389 $11,254,246 $8,891,099 ($86,000)$8,805,099
Transfers Out (CIPs) - Undesignated $336,309 $1,159,855 $4,662,101 $4,662,101
Transfers Out (CIPs) - Com./Assig. Reserve 7,668,923 71,715 7,401,616 5,751,831 13,153,447
Contribution to OPEB/PERS - 1,000,000 3,000,000 3,000,000
Contribution to ISF 1,229,066 1,000,000 1,000,000 1,000,000
Total Expenditures $83,486,181 $84,311,343 $99,883,527 $5,837,831 $105,721,358
GF Impact (Include CIP & Transfers)$19,423,450 $8,079,276 ($7,116,017)($5,837,831)($12,953,848)
TOTAL GENERAL FUND BALANCE $190,649,224 $198,728,500 $183,533,206 $177,695,375
Atachment 2
GENERAL FUND RESERVES - Q1 FY 2020-21
RESERVE DESCRIPTION
Projected
2019-20
Increase
2020-21
Decrease
2020-21
Net
Change
Projected
2020-21
Non-Spendable $13,061 $13,061
Prepaid Expenses 13,061 13,061
Restricted $1,938,000 $441,000 $441,000 $2,379,000
Cemetery Endowment 60,000 60,000
Developer Contr - Downtown 1,049,000 441,000 441,000 1,490,000
Developer Contr - Heritage Pk 19,000 19,000
Developer Contr - Nature Pk 60,000 60,000
Heritage Park Maintenance 750,000 750,000
Committed $57,828,474 ($10,890,544)($10,890,544)$46,937,931
Advance to Public Facility Fee 7,500,000 7,500,000
Downtown Public Impr 8,454,625 8,454,625
Economic Development 126,359 (126,350)(126,350)9
Economic Stability 8,000,000 8,000,000
Emergency Communications 532,113 (1,736)(1,736)530,377
Fire Svcs Pension/OPEB 5,324,225 5,324,225
Innovations & New Opport 1,065,471 (170,973)(170,973)894,498
One-Time Initiative - Capital 4,993,150 (1,543,503)(1,543,503)3,449,647
One-Time Initiative - Operating 503,860 503,860
Public Safety Reserve 2,000,000 2,000,000
Specific Committed Reserves
Cemetery Expansion (CIP)1,447,764 (1,447,764)(1,447,764)
Contribution to Public Facility Fee 6,000,000 6,000,000
Cultural Arts Center 4,539,197 (4,539,197)(4,539,197)
Don Biddle Park (CIP)1,500,000 (1,500,000)(1,500,000)
Dublin Sports Ground (CIP)1,502,671 (1,502,671)(1,502,671)
Fallon Sports Park II (CIP)
Fallon Sports Park III Contingency 3,110,500 3,110,500
Maintenance Facility (CIP)58,350 (58,350)(58,350)(0)
Utility Undergrounding (CIP)1,170,190 1,170,190
Assigned $64,004,659 ($4,674,038)($4,674,038)$59,330,621
Accrued Leave 1,044,730 1,044,730
Catastrophic Loss 17,702,316 17,702,316
CIP Carryovers 3,502,246 3,502,246
Fiscally Responsible Adj 325,000 325,000
Municipal Regional Permit 2,282,905 (177,522)(177,522)2,105,383
Non-Streets CIP Commitments 2,462,100 2,462,100
Operating Carryovers 1,724,011 1,724,011
Parks and Streets Contingency 226,227 (24,957)(24,957)201,270
Pension & OPEB 15,000,000 15,000,000
Pension Rate Stabilization Plan 2,000,000 (2,000,000)(2,000,000)
Relocate Parks Dept 250,000 250,000
Service Continuity 3,150,000 3,150,000
Specific Assigned Reserves
Climate Action Plan 3,000,000 3,000,000
Contribution to ISF 1,500,000 1,500,000
Façade Improvement Grants 374,157 374,157
HVAC Replacement & Civic Ctr Improv. (C 4,202,041 (2,212,634)(2,212,634)1,989,407
Public Safety Complex (CIP)258,925 (258,925)(258,925)
Village Pkwy Pavemt Recon 5,000,000 5,000,000
Unassigned $66,865,029 $15,564,582 ($13,394,848)$2,169,733 $69,034,763
Unassigned-Unrealized Gains 8,453,240 8,453,240
Unassigned (Available)58,411,790 60,581,523
TOTAL RESERVES $190,649,224 $16,005,582 ($28,959,430)($12,953,848)$177,695,375
Attachment 3
Budget Change Reference #:
From Un-Appropriated Reserves X Budget Transfer Between Funds
From Designated Reserves Other
1001.1402.61601 $86,000
Civic Center HVAC & Roof Replacement
GI0119.9400.9401 (Improvement - Not Building)($287,366)
GI0119.1001 (General Fund)($287,366)
Cultural Arts Center
GI0120.9400.9401 (Improvement - Not Building)$287,366
GI0120.1001 (General Fund)$287,366
GI0120.9400.9401 (Improvement - Not Building)$1,543,638
GI0120.6205 /6205.9301.89101 (Funding Source - ISF - Facilities)$1,543,638
3300.9301.49999 (Transfers In)$1,543,638
GI0120.9400.9401 (Improvement - Not Building)$201,000
GI0120.1001 /1001.9301.89101 (Funding Source - General Fund)$201,000
3300.9301.49999 (Transfers In)$201,000
GI0120. 9100.9101 (salary/Benefits)$68,865
GI0120. 9200.9202 (Design)$1,870,234
GI0120.9400.9401 (Improvement - Not Building)$1,311,732
GI0120.9600.9605 (Equipment - ISF)$800,000
GI0120.1001 /1001.9301.89101 (Funding Source - General Fund)$4,050,831
3300.9301.49999 (Transfers In)$4,050,831
11/3/2020
Posted By:Date:
**********Finance Use Only**********
As Presented at the City Council Meeting
General Fund - Insurance - Insurance Premiums
Additional cyber and liability coverage
Appropriate future year project cost for Civic
Center Rehabilitation to Cultural Arts Center in FY
20-21
Appropriate future year project cost forCivic Center
HVAC & Roof Replacement to Cultural Arts Center
in FY 20-21
Appropriate additional funds to Cultural Arts
Center, budget shortfall identified on May 19, 2020
Transfer FY 20-21 Cultural Arts Center roof
replacement cost to Cultural Arts Ctr CIP
CITY OF DUBLIN
FISCAL YEAR 2020-21
BUDGET CHANGE FORM
City Council's Approval Required
OPERATING EXPENDITURES
CIPs
Attachment 1
Number GI0120 Program GENERAL
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
9100 $5,739 $139,566 $54,640 $199,945
9200 $242,567 $2,472,433 $2,715,000
9400 $3,343,736 $4,895,264 $8,239,000
9500 $18,090 $18,090
9600 $800,000 $800,000
$248,306 $6,773,825 $4,949,904 $11,972,035
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
4100 $248,306 $690,990 $4,949,904 $5,889,200
1001 $4,539,197 $4,539,197
6205 $1,543,638 $1,543,638
$248,306 $6,773,825 $4,949,904 $11,972,035
ANNUAL OPERATING IMPACT
CULTURAL ARTS CENTER
2020-2025 CAPITAL IMPROVEMENT PROGRAM
TOTAL
ESTIMATED COSTS
TOTAL
General Fund
Internal Service Fund - Facilities
Public Facility Fees
Salaries & Benefits
Contract Services
Improvements
FUNDING SOURCE
Miscellaneous
Equipment
PROJECT DESCRIPTION
This project provides for the design and improvement of an approximately 13,000-square-foot Cultural Arts Center on the first floor of the Civic Center, which was
formerly occupied by Dublin Police Services. The Parks & Recreation Master Plan identifies a Cultural Arts Center that would serve as a multi-use facility that affords
cultural, educational and social opportunities for the community. The Cultural Arts Center could include: an Art gallery, Black Box theater space; multi-purpose art and
music classrooms; a dance studio; and restrooms. The project also provides for the replacement of the heating, ventilation, and air conditioning (HVAC) systems,
HVAC controls, roof replacement, major upgrades to the main telecommunication room, and the relocation of the Parks and Community Services Department offices
to the second floor of the Cultural Arts Center.
ANNUAL OPERATING IMPACT:TBD
MANAGING DEPARTMENT: Public Works
Number GI0119 Program GENERAL
ESTIMATED COSTS
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
9100 $17,325 $71,775 $89,100
9200 $87,182 $483,718 $570,900
9400 $3,635,000 $3,635,000
9500 $338 $4,662 $5,000
9600 $700,000 $700,000
$104,845 $4,895,155 $5,000,000
FUNDING SOURCE
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
1001 $2,212,634 $2,212,634
6605 $200,000 $200,000
6205 $104,845 $2,482,521 $2,587,366
$104,845 $4,895,155 $5,000,000
ANNUAL OPERATING IMPACT
2020-2025 CAPITAL IMPROVEMENT PROGRAM
CIVIC CENTER HVAC AND ROOF REPLACEMENT
TOTAL
IT Fund
TOTAL
General Fund
Internal Service Fund -
Facilities Replacement
Salaries & Benefits
Contract Services
Improvements
Miscellaneous
Equipment
PROJECT DESCRIPTION
This project provides for the design and replacement of the heating, ventilation, and air conditioning (HVAC) system and controls, roof replacement, associated building
modifications, and code compliance upgrades for City Hall portion of the Civic Center complex. The existing HVAC and roof systems are at the end of their useful life and are
due for replacement. A new HVAC system and controls will be more energy efficient and have a greater ability to be adjusted.With the roof replace, the project will also
upgrade communications infrastructure for new data connections to offices, workstations, and conference rooms. The project will be completed in several phases to
minimize disruption to the public and to Staff working within the buildings.
The HVAC and roof improvements for the future Cultural Arts Center portion of the Civic Center complex will be completed with the renovation of the Cultural Arts Center
Project, CIP No. GI0120.
This project is funded by $2 million in a General Fund Reserve set aside for this purpose in addition to the Internal Service Fund for Facilities Replacement.
ANNUAL OPERATING IMPACT: None
MANAGING DEPARTMENT: Public Works
Number GINEW01 Program GENERAL
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
9100 $5,050 $17,960 $21,360 $44,370
9200 $10,000 $200,000 $114,000 $100,000 $424,000
9400 $550,000 $100,000 $650,000
9500 $5,000 $5,000 $5,000 $5,000 $20,000
$20,050 $222,960 $690,360 $205,000 $1,138,370
PRIOR
YEARS 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
FUTURE
YEARS TOTALS
1001 $20,050 $222,960 $690,360 $205,000 $1,138,370
$20,050 $222,960 $690,360 $205,000 $1,138,370
ANNUAL OPERATING IMPACT
Salaries & Benefits
Contract Services
Improvements
CIVIC CENTER REHABILITATION
TOTAL
2020-2025 CAPITAL IMPROVEMENT PROGRAM
Miscellaneous
ESTIMATED COSTS
FUNDING SOURCE
TOTAL
General Fund
PROJECT DESCRIPTION
This project provides for the planning, design, and construction of various rehabilitation and renovation projects at the Civic Center. Projects may include: renovation
of all restrooms, kitchenettes, and the employee break room; modifications to conference rooms; site improvements to the parking lot area and surrounding walkways
of the Civic Center; building security evaluation and upgrades; repainting; and Americans with Disabilities Act (ADA) upgrades.
Other potential funding sources for the building security upgrades may include Federal and State public safety grants.
ANNUAL OPERATING IMPACT: None
MANAGING DEPARTMENT: Public Works