HomeMy WebLinkAboutItem 4.06 PrelFinRpt July 99 (2)CITY CLERK
FILE # 330-50
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: (September 7, 1999)
SUBJECT:
EXHIBITS ATTACHED:
RECOMMENDATION: N~L
FINANCIAL STATEMENT:
Preliminary Financial Report For the Month of July 1999
Report Prepared by: Fred Marsh, Finance Manager
Pro Forma Balance Sheet and Income Statements for
the Period Ending July 31, 1999
Accept and file the reports.
See reports for detail &monthly financial activity.
DESCRIPTION: This item provides the report of the preliminary financial statements for the month
of July. The reason that the report is presented as "preliminary" is that the final audited results of Fiscal
Year 1998/99 are not yet available. Preliminary Financial Reports for Fiscal Year 1998o99 (subject to
adjustments from the City's annual audit) will be presented at the next Council meeting. 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.
Preliminary_ Reporting of Information
The auditors will start this month the final phaseof 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
anticipates the final entries will occur by the October report, including the final year end accrual entry for
Sales Tax. '-
Analysis of Preliminarv July 1998 Revenue and Expenditure Report
Given that this is only the first 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 Year. There is also a lag with the reporting
of expenditures due to the sig'nificant amount of services provided to the City by independent contractors.
General Fund Revenues
Total General Fund Revenues collected through July are comparable to what occurred in the first month
of the previous Fiscal Year. The City had collected through July 1999 approximately 4% of ,the total
budgeted General Fund Revenues compared to approximately 6% 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 July 1999. 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:MMONTItFS\0799 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. The "Other Revenue" category is'higher·
than in the same period in the prior year, due to a increase in the 1999 equity distribution payment
received from ABAG PLAN.
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 July expenditures in the General Fund totaled $650,836 and represented
approximately 3% of the total budgeted expenditures in the General Fund. Of this amount, a total of
$1,500 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 July 1999 was comparable
to the amounts expended for the same period in the prior Fiscal Year. As of July 31, 1999, the City had
expended 3% of the General Fund Operating Budget compared to 5% in the prior Fiscal Year. As
previously noted there are some timing differences with payment for contract services and insurance
premiums, 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 Califomia Government Code.
Total General Fund
Revenues
Property Taxes
City of Dublin 1999-2000 YTD Revenues and Budget Comparison
For the Period Ending July 31, 1999 - Unaudited
0%
0%
Sales Taxes
Transient
Occupancy Taxes
Franchise Taxes
0%
0%
o%
0%
· FY 1999/2000
[]FY 1998/1999
Licenses and Permits
Interest and Rentals
I 6%
1%
7%
Intergovernmental
from State
Charges for Services
Other Revenues
10%
=8%
2%
3%
;19%
0% 30%
60% 90%
8% of Year Complete
120%
150%
Property Taxes
Sales Taxes
Transient Occupancy Taxes
Franchise Taxes
Licenses and Permits
Interest and Rentals
i nterg ov ern m enta I
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
0%
565,500 6%
0%
0%
196,233 6%
12,797 1%
136,198 10%
92,922 2%
67,002 8%
FY 98199
YTD Actual
550,400
469,475
114,699
103,204
91,635
46,636
1,070,652 4% 1,376,049
% of Total for
FY 98~99
0%
7%
0%
0%
19%
7%
8%
3%
19%
6%
ATTACHMENT 1
City of Dublin 1998-99 YTD Expenses and Budget Comparison
For the Period Ending July 31, 1999 - Unaudited
Total General Fund Expenses ~3%
5%
General Government
Civic Center Lea~7°
!21%
PoI~Z
Fire ~8%
Other Public Safe0t~° ::] 1%
Transportation ~o/~o
Health and Welf4#;o/°
Culture & Community Services
1%
Community Development
Capital Improv. Projec0t~° ~ 4%
· FY 1999/2000
[]FY 1998/1999
0% 30% 60% 90% 120%
3% 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 1999/2000
Budget
FY 1999/2000 % of
YTD Actual Budget
FY 98199
YTD Actual
2,505,022 138,448 6% 91,820
346,062
4,986,704 23, 117 0% 14,621
4,209,712 330,593 8% 316,507
208,427 795 0% 2,735
827,008 14,416 2% 23,491
18,860 0%
2,990,737 72,178 2% 126,233
4,951,491 69,789 1% 104,921
2,652,717 1,500 0% 72,483
23,350,678 650,836 3%
1,098,873
20,697,961 649,336 3% 1,026,390
% of Total for
FY 98~99
4%
21%
0%
8%
1%
3%
0%
6%
3%
4%
5%
~. ~...: ,,,~ ,:= .~ ATTACH M E NT 2 ,f
CITY OF DUBLIN'S
FINANCIAL STATEMENTS
FOR
THE FISCAL YEAR ENDED 6/30/2000
Prepared by
The Finance Department
September 1, 1999
ATTACHMENT 3
City of Dublin Income Statement Showing
Revenues Versus Expenditures
For the Period 7199 Through 7~99
Revenues
Propeft7 Taxes
Sales Taxes
Real Property Transfer Tax
Hotel Transient Occupancy Tax
Franchise Taxes
Licenses and Permits
Fines and Fo~eitures
Use Money and Property - Interest
Use Money and Property - Rentals
Intergovernmental from State
Charges for Services
Other Sources of Revenue
Total Revenue
Expenditures
General Government
City Council
City Manager
Central Services
City Attorney
Administrative Services '
Building Management
Facility Rental
Insurance Cost Center
Elections Cost Center
Non Departmental
Activity Total
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
Health and Welfare
Waste Management
Child Care
Activity Total
Current
Budget
5,346,600
9,200,000
297,000
580,000
872,400
3,041,520
57,200
1,128,154
95,060
1,373,450
3,917,844
785, 101
26,694,329
Current
Actual % Variance
5,346,600
565,500 6% 8,634,500
297,000
580,000
872,400
196,233 6% 2,845,287
7,157 13% 50,043
8,159 1% 1,119,995
4,638 5% 90,422
136, 198 10% 1,237,252
92,922 2% 3,824,922
59,845 8% 725,256
1,070,652 4% 25,623,677
Prior
Fiscal Year
4,793,770
7,964,387
282,733
389,664
849,959
2,472,217
60,876
1,737, 104
81,664
1,356,234
3,462,008
242,648
23,713,164
150,305 5,696 4% 144,609 140,181
376,735 16.;>22 4% 360,513 331,377
222,712 4,547 2% 218,165
300,140 365 299,775 310,526
721,174 23,614 3% 697,560 687,410
550,831 10,749 2% 540,062 531,1 67
1,614,407
152, 185 77,255 51% 74,930 125,622
940 940 6,335
30,000 30,000
2,505,022 138,448 6% 2,366,574 3,747,025
4,986,704
54,760
118,735
34,932
4,209,712
9,404,643
23, 117 4,963,587
54,760
118,735
795 2% 34,137
330,593 8% 3,879,119
354,505 4% 9,050,338
4,475,566
51,697
35,436
- 34,994
4,108,744
8,706,437
411,653 14,416 4% 397,237 389,505
500 500 112,085
98,580 98,580
46,320 46,320 49,395
269,955 269,955 218,253
827,008 14,416 2% 812,592 769,238
6,860
12,000
18,860
6,860
12,000
18,860
4,969
12,000
16,969
Prior
YTD
550,400
469,475
3,631
109,020
5,679
103,204
91,635
43,005
1,376,049
11,062
27,495
50,521
2,742
346,062
437,882
14,621
2,735
316,507
333,863
23,491
23,491
% Variance
4,793,770
7% 7,413,987
282,733
389,664
649,959
19% 2,002,742
6% 57,245
6% 1,628,064
7% 75,985
8% 1,253,030
3% 3,390,373
18% 199,643
6% 22,337,115
8% 129,119
8% 303,862
310,526
7% 636,889
1% 528,425
21% 1,268,345
125,622
6,335
12% 3,309,143
4,460,945
51,697
35,436
8% 32~259
8% 3,792,237
4% 8,372,574
6% 366,014
412,085
49,395
218.253
3% 745,747
4,969
12,000
16,969
City of Dublin Income Statement Showing
Revenues Versus Expenditures
For the Period 7~99 Through 7~99
Current
Budget
Current
Actual % Variance
Prior
Fiscal Year
Prior
YTD
% Variance
Culture and Leisure Services
Library Services 309,558 309,558 255,689 255,689
Cultural Activities 35,785 35,785 20,000 20,000 100%
Heritage Center 55,074 2,450 4% 52,624 42,962 2,914 7% 40,048
Dublin Cemetery 22,397 22,397 14,369 14,369
Park Maintenance 757,81 8 757,818 513,957 513,957
Community ']'V 71,886 71,886 57,597 57,597
Recreation Admin 280,456 13,097 5% 267,359 263,019 20,667 8% 242,352
Playgrounds 145,318 9,239 6% 136,079 137,577 18,106 13% 119,471
Shannon Center 201,388 4,815 2% 196,573 164,381 5,820 4% 158,561
Preschool 48,586 2,096 4% 46,490 49,264 4,264 9% 45,000
Teens Program 77, 163 1,740 2% 75,423 44,993 2,164 5% 42,889
Adult Sports 75,330 1,689 2% 73,641 60,276 4,329 7% 55,047
Youth Sports 62,015 4,478 7% 57,537 53,429 3, 169 6% 50,260
Community Gym 37,360 37,360
Special Events 231,573 4,102 2% 227,471 105,170 3,465 3% 101,705
Senior Center 117,744 - 3,121 3% 114,623 99,247 6,007 6% 93,240
Recreation Instruction 114,863 2,947 3% 111,916 115,161 6,265 5% 108,896
Aquatics 256,508 19,615 8% 236,893 213,214 29,103 14% 164,111
Parks / Facility Management 89,915 2,789 3% 87,126
Activity Total 2,990,737 72,178 2% 2,918,559 2,210,325 126,233 6% 2,064,092
Community Development
Planning
Building Safety
Engineering
Economic Development
Activity Total
Capital Improvement Projects
General CIP Projects
Community Improvements
Parks
Street Construction / Improvements
Activity Total
964,662
1,105,134
2,549,357
312,338
4,951,491
40,411 4% 944,251
8,549 1% 1,096,585
20,651 1% 2,528,706
178 312,160
69,789 1% 4,881,702
Total Expenditures
1,438,238
293,720 68
762,410 288
158,349 1,144 1%
2,652,717 1,500
23,350,678 650,836 3%
3,343,651 419,816 13%
27,600
-931,296
2,439,955 419,816 17%
1,438,238
293,652
762,122
157,205
2,651,217
22,699,842
2,923,835
27,600
-931,296
2,020,139
Excess Revenues (Expenditures)
1,008,950
794,997
1,679,728
115,740
3,599,415
246,860
63,272
1,110,304
353,570
1,774,006
20,823,415
2,889,749
2,889,749
Transfers In From Other Funds
Transfers Out From Other Funds
50,982
10,825
34,982
8,132
104,921
2,446
69,663
374
72,483
1,098,873
277,176
277,176
Appropriations to Reserves
5% 957,968
1% 764,172
2% 1,644,746
7% 107,608
3% 3,494,494
246,860
4% 60,826
6%.. 1,040,641
353,196
4% 1,701,523
5% 19,724,642
10% 2,612,573
10% 2,612,573
CIty of Dublin
Balance Sheet
For The period July 1st Through July 31, 1999
Cash
Cash With Fiscal Agent
Unamodized Bond Discount
Investments at Cost
Receivables
Taxes
Accounts
Interest
Assessments
Due From Others
Prepaid Items
Fixed Assets
Amounts to be Provided
Total Assets
Private Development Deposits
AB1600 Deposits
Other Deposits
Payables
Accounts
Interest
Payroll
Due to Others
Long Term Debt Payable
Total LIabilities
Fund Balances
Total Liabilities/Fund Equity
General Special Special Capital Trusl Internal
Revenue Revenue Assessment Improvement Agency Service
Funds Funds Funds Funds Funds Funds
-17,355,218
37,977,913
396,304
9,070
10,290
1,279,669
8,277
78,048
301,899 13,445,400 187,624
149,763
21,038,359 1,365,994 301,899 13,445,400
1,151,705
452,769
3,547
2,002,370
13,436,330
9,070
1,941,500
2,278,887
2,059,000
3,606,844 3,547 13,445,400 2,059,000
17,431,5t5 1,362,447 301,899 219,887
21,038,359 1,365,994 ' 301,899 13,445,400 2,278,887
995,350
1,645,067
2,640,417
19,078
19,078
2,621,339
2,640,417
Enterprise
Funds
Fixed Asset
Account
Group
25,543,574
25,543,574
25,543,574__
25,543,574
Long Term
Debt Account
Group
27,421,278
27,421,278
27,421,278
27,421,278
27,421,278