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Home My WebLink About4.06 PrelFinRpt July 99CITY 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