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Home My WebLink About4.04 PrelFinRpt Sept 1999 " , CITY CLERK File # D[3J~[QJ-[5][QJ r AGENDA STATEMENT CITY COUNCIL MEETING DATE: (November 2,1999) ~A Preliminary Financial Report For the Month of September 1999 Report. Prepared by: Fred Marsh, Finance Manager SUBJECT: EXHIBITS ATTACHED: Pro Forma Balance Sheet and Income Statements for the Period Ending September 30, 1999 RECOMMENDATION: ~ Accept and file the reports. FINANCIAL. STATEMENT: See reports for detail of monthly financial activity. DESCRIPTION: This item provides the report of the preliminary financial statements for the month of SePtember. The reason that the report is presented as "preliminary" is that the final audited results of FiscalYear 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. (' Preliminary Reporting of Information The auditors recently completed the final phase oftherr field work necessary for the 1998/99 audit. The fmal audit results will.impactthe reported Fund I3alance 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 eritries will not be significant when compared to all general fund revenues and expenses. Analvsis of Preliminary September 1999 Revenue and Expenditure Report Given that this is only the third month of the 1999/2000 Fiscal Year, there is extremely limited dataon 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 significant amount of services provided to the City by independent contractors. General Fund Revenues Total General Fund. Revenues. collected through September are comparable to what occurred in the third month of the previous Fiscal Year. The City had collected through September 1999 approximately 16% of the total budgeted General Fund Revenues compared to approximately 17% in the prior Fiscal Year. Based upon the limited information available there were not any areas with significant deviations from the current budget projections. Sales Tax is higher than in the same period of the prior year. The State has raised the amount of the r-- monthly sales tax advances to the City as a result of the increased sales activity within the City, primarily \ related to autos. Licenses and Permits are lower than. in the same period in the prior year due to a ------------------------------------------------------------------------------------------------------------- COPIES TO: \\DUBLINFS2\AS\MONTHFS\0999 agenda statelJlentmonth .tinancials.doc ITEMNO.M .. General Fund Expenditures Overall, through the month of September expenditures in the General Fund totaled $2,484,290 and represented approximately 11 % of the total budgeted expenditures in the General Fund. Of this amount, a totalof$24,644 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 September 1999 was comparable to the amounts expended for the same period in the prior Fiscal Year. As of September 30, 1999, the City had expended 12% of the General Fund Operating Budget compared to 16% in the prior Fiscal Year. As previously noted there are some timing differences with payment for contract services, which ...."J complicate comparisons between one year to the next. Fire Services is lower than the same period in the .. ..... prior year due to timing differences in payments for contract fire services. Culture and Leisure Services are lower than in the same period in the prior year due as no payments have been made to date for contract library services. Capital Improvements Projects expenditures are lower than in the same period of the prior year due to expenditures incurred in the prior year for the completion of the Dougherty Hills Park Slope Repair Capital Project. All expenditures to date are within the authorized budget. IUs recommended that the City Council receive and file these reports as authorized by Section 41004 of the California Government Code. .J -.J.-- )t{ '7 Total General Fund Revenues City of Dublin 1999-2000 YTD Revenues and Budget Comparison For the Period Ending September 30,1999 - Unaudited 16%1 17%1 20ty,o 17%1 17o/J 16% . FY 1999/2000 I;;] FY 1998/1999 .--- Property Taxes Sales Taxes Transient Occupancy Taxes Franchise Taxes Licenses and Permits Interest and Rentals 15% ;~-' Intergovernmental from State Charges for Services 11% Other Revenues 22% I 0% 30% 60% . 90% 120% 150% 25% of Year Complete FY 1999/2000 FY 1999/2000 %of FY 98/99 % of Total for Budget YTD Actual Budget YTD Actual FY 98/99 Property Taxes 5,643,600 483,332 9% 429,275 8% Sales Taxes 9,200,000 1,800,969 20% 1,518,863 17% Transient Occupancy Taxes 580,000 99,394 17% 62,257 16% Franchise Taxes 872,400 81 ,1 00 9% 72,559 9% Licenses and Permits 3,041,520 790,746 26% 723,828 29% Interest and Rentals 1,223,214 35,034 3% 196,836 15% Intergovernmental 1,373,450 475,260 35% 312,593 23% Charges for Services 3,917,844 455,916 12% 516,493 15% Other Revenues 842,353 91,741 11% 56,177 22% Total General Fund Revenues 26,694,381 4,313,492 16% 3,888,881 17% n..,.. 0.;...._. 1""'''''1QQ912:09 PM ATTACHMENT 1 ),4'2 City of Dublin 1999-2000 YTD Expenses and Budget Comparison For the Period Ending September 30,1999 - Unaudited . 1 11%. Total General Fund Expenses 115% ~ General Government 17% 19% Civic Center Lease 0% 21% Police !2% 2% I Fire 17% 2400 !;~% , Other Public Safety 4% .FY 199912000 I Transportation 13% I:: FY 1998/1999 I 14% Health and Welfare ~% 0% Culture & Community Services 16% 20% t 12% Community Development 16% Capital Improv. Projects 1% ~8% 0% FY 1999/2000 Budget General Government Civic Center Lease Police Fire Other Public Safety Transportation Health and Welfare Culture and Community Services Community Development Capital Improvement Projects 2,505,022 4,986,704 4,209,712 208,427 827,008 19,360 3,000,124 4,951,491 2,748,220 Total General Fund Expenses 23,456,068 General Fund Operating Expenses 20,707,848 30% 60% ~ 90% 120% 25% of Year Complete FY 1999/2000 YTD Actual 429,016 109,853 717,380 5,595 106,260 486,501 605,041 24,644 2,484,290 2,459,646 %of Budget 17% 2% 17% 3% 13% 0% 16% 12% 1% 11% 12% FY 98/99 YTD Actual % of Total for FY 98/99 417,146 346,062 90,868 988,824 7,989 105,571 19% 21% 2% 24% 4% 14% 0% 20% -- -1.6%. -_ 8 % ......,I 442,032 580,692 143,151 3,122,335 ."'\1;1o';:;_'.;-~C- ~ 2,979,184 16% CITY OF DUBLIN'S FINANCIAL STATEMENTS FOR THE MONTH OF SEPTEMBER 1999 .~. Prepared by The Finance Department October 25, 1999 ~- 3~1 ATTACHMENT 3 f4~1 CITY OF DUBL! N BALANCE SHEET FOR THE PERIOD ENDING 30Sep99 ~ GENERAL SPECIAL SPECIAL CAPITAL TRUST/ TOT A L S REVENUE REVENUE ASSESSMENT IMPROVEMENT AGENCY ---MEMORANDUM ONLY--- FUNDS FUNDS FUNDS FUND FUND CURRENT PRIOR ASSETS CASH 07.561.466) 1.649.505 281.933 15.222.611 1.968 (405.450) (8.211.129) CASH WITH FISCAL AGENT 149.763 149.763 149.763 UNAMORTIZED BOND DISCOUNT INVESTMENTS AT COST 37.879.018 37.879.018 34.556.969 RECEIVABLES: TAXES ACCOUNTS (NE 149.497 118.278 267.775 1. 399 . 589 INTEREST 205.076 205.076 502.727 ASSESSMENTS DUE FROM OTHERS 5.849 78.048 83.897 212.897 INVENTORY AT COST PREPAID ITEMS 11.512 11.512 7.027 FIXED ASSETS AMOUNT TO BE PROVIDED 1. 860.500 1. 860 . 500 1. 860.500 TOTAL ASSETS 20.689.485 1. 845.830 281.933 15.222.611 2.012.231 40.052.091 30.478.344 LIAL/FND BAL/RETND ERNGS \....", DEPOSITS FOR PRIVATE DEVEL (819.349) (819.349) (498.812) DEPOSITS FOR AB1600 FEES 07.267) 05.995.502) 06.012.768) (4.882.178) DEPOSITS OTHERS (394.678) (394.678) (468.866) PAYABLES: ACCOUNTS 069.578) (7.888) (6.227) 083.693) (2.895.909) INTEREST PAYROLL (213.180) (213.180) (309.574) DUE TO OTHERS (28.707) (28.707) (150.963) DEFERRED REVENUE 049.497) (5.849) 055.346) (155.346) DE8T INSTRUMENTS PAYABLE 0.978.000) (1.978.000) 0.97~.000) TOTAL LIABILITIES (1. 792.257) (7.888) 06.007.577) (1.978.000) (19.785.722) (11.339.647) FUND BALANCES 08.897.229) 0.837.942) (281.933) 784.966 (34.231) (20.266.369) (19.138.697) TOTAL FUND E (18.897.229) (1. 837.942) (281. 933) 784.966 (34.231) (20.266.369) (19.138.697) TOTAL LIAB. FND BAL. RETD (20.689.485) (1. 845.830) (281.933) 05.222.611) (2.012.231) (40.052.091) (30.478.344) '....,i ,- INTERNAL SERVICE FUNDS ASSETS CASH 1.092.369 CASH WITH FISCAL AGENT UNAMORTIZED BOND DISCOUNT 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 19.491.955 20.584.324 LIAL/FND BAL/RETND ERNGS DEPOSITS FOR PRIVATE DEVEL DEPOSITS FOR AB1600 FEES DEPOSITS OTHERS PAYABLES: ACCOUNTS INTEREST PAYROLL DUE TO OTHERS DEFERRED REVENUE DEBT INSTRUMENTS PAYABLE TOTAL LIABILITIES FUND BALANCES (20.584.324) TOTAL FUND E (20.584.324) TOTAL LIAB. FND BAL. RETD (20.584.324) ,~ 5~/ CITY OF DUBLIN BALANCE SHEET FOR THE PERIOD ENDING 30Sep99 ENTERPRISE FIXED ASSETS GENERAL LONG FUNDS GROUP OF TERM DEBT ACCOUNTS ACCOUNT GROUP TOT A L S - -- MEMORANDUM - - - CURRENT PRIOR 1. 092.369 6.388.993 25.880.948 28.986.317 55.959.634 28.986.317 6.388.993 28.986.317 (28.986.317) (28.986.317) (28.986.317) (28.986.317) (26.973.317) (26.973.317) (6.388.993) (6.388.993) (6.388.993) (28.986.317) (55.959.634) City of Dublin General Fund Income Statement Showing .,. Revenues Versus Expenditures 6 ~ 1 For the Period 7/99 Through 9/99 '..."" Current Current Prior Prior Budget Actual % Variance Fiscal Year YTD % Variance Revenues Property Taxes 5,346,600 439,035 8% 4,907,565 4,866,093 400,899 8% 4,465,194 Sales Taxes 9,200,000 1,800,969 20% 7,399,031 8,687,091 1,518,863 17% 7,168,228 Real Property Transfer Tax 297,000 44,297 15% 252,703 282,733 28,376 10% 254,357 Hotel Transient Occupancy Tax 580,000 99,394 17% 480,606 389,664 62,257 16% 327,407 Franchise Taxes 872,400 81,100 9% 791,300 849,959 72,559 9% 7n,400 Licenses and Permits 3,041,520 790,746 26% 2,250,n4 2,472,217 723,828 29% 1,748,389 Fines and Forfeitures 57,200 17,021 30% 40,179 60,876 10,686 18% 50,190 Use Money and Property - Interest 1,128,154 19,272 2% 1,108,882 1,262,400 171,518 14% 1,090,882 Use Money and Property - Rentals 95,060 15,762 17% 79,298 90,539 25,318 28% 65,221 Intergovernmental from State 1,373,450 475,260 35% 898,190 1,356,234 312,593 23% 1,043,641 Charges for Services 3,917.,844 455,916 12% 3,461,928 3,482,983 516,493 15% 2,966,490 Other Sources of Revenue 785,153 74,720 10% 710,433 250,889 45,491 18% 205,398 Total Revenue 26,694,381 4,313,492 16% 22,380,889 24,051,678 3,888,881 16% 20,162,797 Expenditures General Government City Council 150,305 33,694 22% 116,611 145,936 37,122 25% 108,814 City Manager 376,735 67,733 18% 309,002 331,437 79,089 24% 252,348 Central Services 222,712 32,534 15% 190,178 City Attorney 300,140 38,662 13% 261,478 310,558 25,903 8% 284,655 Administrative Services 723,174 114,714 16% 608,460 687,654 148,729 22% 538,925 Building Management 550,831 63,081 11% 487,750 531,167 46,048 9% 485,119 Facility Rental 1,614,407 346,063 21% 1,268,344 Insurance Cost Center 152,185 78,598 52% 73,587 125,622 80,189 64% 45,433 ...."", Elections Cost Center 940 940 6,335 66 1% 6,269 Non Departmental 28,000 28,000 1,029 1,029 Activity Total 2,505,022 429,016 17% 2,076,006 3,754,145 763,209 20% 2,990,936 Public Safety Police 4,986,704 109,853 2% 4,876,851 4,505,598 90,868 2% 4,414,730 Crossing Guards 54,760 54,760 51,697 51,697 Animal Control 118,735 118,735 104,137 104,137 Disaster Preparedness 34,932 5,595 16% 29,337 . 35,022 7,989 23% 27,033 Fire Services 4,209,712 717,380 17% 3,492,332 4,109,003 988,824 24% 3,120,179 Activity Total 9,404,843 832,828 9% 8,572,015 8,805,457 1,087,681 12% 7,717,n6 Transportation Public Works 411,653 69,866 17% 341,787 389,595 83,566 21% 306,029 Street Maintenance 500 500 112,085 112,085 Street Sweeping 98,580 7,456 8% 91,124 Street Tree Maintenance 46,320 2,824 6% 43,496 49,395 5,573 11% 43,822 Street Landscaping Maintenance 269,955 26,114 10% 243,841 225,855 16,432 7% 209,423 Activity Total 827,008 106,260 13% 720,748 n6,930 105,571 14% 671,359 Health and Welfare Waste Management 7,360 7,360 4,969 4,969 Child Care 12,000 12,000 12,000 12,000 Activity Total 19,360 19,360 16,969 16,969 ...", City of Dublin General Fund Income Statement Showing 1~ '/ Revenues Versus Expenditures For the Period 7/99 Through 9/99 / - Current Current Prior Prior Budget Actual % Variance Fiscal Year YTD % Variance Culture and Leisure Services Library Services 309,558 309,558 255,689 255,689 Cultural Activities 35,785 432 1% 35,353 20,000 20,000 100% Heritage Center 55,074 9,180 17% 45,894 43,004 9,050 21% 33,954 Dublin Cemetery 22,397 979 4% 21,418 15,010 112 1% 14,898 Park Maintenance 757,818 59,087 8% 698,731 533,105 49,513 9% 483,592 Community TV 71,886 45,986 64% 25,900 58,047 43,056 74% 14,991 Recreation Admin 280,456 54,292 19% 226,164 264,382 59,528 23% 204,854 Playgrounds 145,318 35,724 25% 109,594 137,577 40,810 30% 96,767 Shannon Center 201 ,388 27,687 14% 173,701 164,547 28,817 18% 135,730 Preschool 48,586 8,477 17% 40,109 49,314 12,574 25% 36,740 Teens Program 77,163 8,933 12% 68,230 44,993 6,649 15% 38,344 Adult Sports 75,330 12,328 16% 63,002 60,291 15,072 25% 45,219 Youth Sports 62,015 18,768 30% 43,247 63,730 12,268 19% 51,462 Community Gym 37,360 30 37,330 Special Events 240,908 51,386 21% 189,522 105,170 9,542 9% 95,628 Senior Center 117,796 19,447 17% 98,349 99,729 19,361 19% 80,368 Recreation Instruction 114,863 19,898 17% 94,965 115,191 36,478 32% 78,713 Aquatics 256,508 98,262 38% 158,246 218,802 79,202 36% 139,600 Parks 1 Facility Management 89,915 15,605 17% 74,310 Activity Total 3,000,124 486,501 16% 2,513,623 2,248,581 442,032 20% 1,806,549 Community Development /~ Planning 984,662 191 ,809 19% 792,853 1,010,015 188,690 19% 821,325 Building Safety 1,105,134 163,547 15% 941,587 795,025 137,675 17% 657,350 Engineering 2,549,357 177,625 7% 2,371,732 1,685,599 203,647 12% 1,481,952 Economic Development 312,338 72,060 23% 240,278 115,762 50,680 44% 65,082 Activity Total 4,951,491 605,041 12% 4,346,450 3,606,401 580,692 16% 3,025,709 Capital Improvement Projects General CIP Projects 1,533,741 15,457 1% 1,518,284 252,013 18,775 7% 233,238 Community Improvements 293,720 500 293,220 63,272 63,272 Parks 762,410 5,115 1% 757,295 1,110,304 123,361 11% 986,943 Street Construction 1 Improvements 158,349 3,572 2% 154,777 353,570 1,015 352,555 Activity Total 2,748,220 24,644 1% 2,723,576 1,779,159 143,151 8% 1,636,008 Total Expenditures 23,456,068 2,484,292 11% 20,971,776 20,987,642 3,122,336 15% 17,865,306 Excess Revenues (Expenditures) 3,238,313 1,829,200 56% 1,409,113 3,064,036 766,545 25% 2,297,491 Transfers In From Other Funds 39,874 Transfers Out From Other Funds -12,219,723 Appropriations to Reserves 3,238,313 1,829,200 56% 1,409,113 -9,115,813 766,545 .--