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HomeMy WebLinkAbout4.07 FinRpt 3-94 e e CITY OF DUBLIN AGEND~ STATEMENT CITY COUNCIL MEETING DATE: April 25, 1994 SUBJECT: Finanoial Report For The Month of March 1994. ~(prepared by: Paul S. Rankin, Assistant City Manager) EXHIBITS ATTACHED: 1. Balance Sheet and Income Statements for the Period Ending March 3~" 1994 RECOMMENDATION: ~A.ccePt and file ~he report. FINANCIAL: See report for monthly financial activity. DESCRIPTION: This item provides the monthly financial statement for the month of March 1994. This report will highlight significant trends, which differ from information presented in earlier monthly reports. GENERAL FUND REVENUES OVerall, when compared to the prior year~ Revenues are tracking at slightly above the level collected in the prior year. In Fiscal Year 1992/93 as of March the City had collected. nearly 65.8% of the actual General Fund Revenues collected for the entire year. The March 1994 report shows in the current year 66.4% of the budgeted General Fund revenues have been received. The stated revenues for Use of Money (i.e. interest earnings) are subject to further adjustments. The City uses a pooled investment concept meaning that all idle cash is invested in a pool. Typically for the purpose of monthly reports all interest earnings are recorded in the General Fund. At year end the total interest earnings are allocated to the various funds based upon the monthly cash balance in a particular fund. It appears that once final adjustments and allocations are determined that the city will meet the budgeted revenue of $797,000 for the General Fund. The March report includes Sales Tax Data reflecting the returns submitted by Retailers for the Christmas Quarter. OVerall, the City'S Sales Tax Revenue is running approximately 5.16% ahead of the same period in the prior year. The following specific trends have been noted in 1993/94 data: New Automobile Sales as a Category are up approximately 10.9% over the prior year. This is especially significant given that this category represents approximately 20% o~ the Sales Tax Revenues. This industry can also be very cyclical and there is potential for deterioration of local sales tax as more I units are sold under leases. In a lease transaction the point of sale may be recorded as the financial institution, which is acting similar to a wholesaler. The Department Store & Dry Goods Category is showing a decline of approximately 5.44% . It is 'anticipated that this sector is being impacted by regional competition. This category represents approximately 15% of the City'S total Sales Tax revenue. The deterioration may continue as the competing stores have opened at various times and there is not a full year of data available. staff will be meeting with the City'S Sales Tax Consultant later this week to review these trends and evaluate final budget projections. ' , EXPENDITURES Total expenditures as of March 31st 'for the General Fund, represent 65.9% authorized budget. This trend deviates substantially from the information presented a year ago due primarily to the timing of posting the Civic Center Lease Payment. In Fiscal Year 1992/93, the city did not record the General Fund expenditure for the Civic Center Lease until the year end entries were made. The City only recently received billing for Animal Control Services, for the ~eriod from July through December. Major deviations in other Departments have been discussed in previous monthly I reports. Engineering Expenses in the General Fund are traCking faster than anticipated due to a delay on several Capital Projects. It is recommended that the city, council receive and file these reports as authorized by section 41004 of the California'Government Code. -----------------------------------------~---------------------------- ITEM NO. .-4. 7 COPIES TO: CITY CLERK FILE'~:I e CITY OF DUBLIN'S FINANCIAL STATEMENTS FOR THE MONTH OF MARCH 1994 prepared by. The Finance Department e. e e BGU02 CITY OF DUBLIN PA.GE 1 4/14/94 BAIJlICE SHEET 9.55.43 FOR THE PERIOD 7/93 THROCQI 3/94 GENERAL SPECHL SPECIAL CAPITAL REVENUE REVENUE ASSESSMENT IKPROVEMElIT FUlIDS FUNDS FUNDS FUNDS ASSETS CASH 1825070.32- 761742.46 341919.04 968.24- C!SR WITH FISCAL AGENT 121210.04 UHAMORTIZED BOND DISCOUNT IBVESDlENTS AT COST 18424636.13 RECEIVABLES: TillS ACCOUllTS (NET) 191123.00 110795.71 INTEREST ASSESSMENTS RElfTS NOTES DUE FROM OO'HERS INVENTORY AT COST PREPAID ITEMS 3742.79 FIXED ASSETS AHOOlfl'S TO BE PROVIDED 2232500.00 TOTAL ASSETS 16794431.60 761742.46 2695629.08 109827.47 LIAB, FHO BAL, RETlID EARNINGS DEPOSITS FOR PRIVATE DEVELPMNT 4187.48- DEPOSITS FOR ABl600 FEES 217208. 46- DEPOSITS OTHERS 188283.66- 3125.00- PAYABLES:ACCOONTS 217855.67-: INTEREST PAYROLL 15474.61- DCE TO OTHERS 250.00- DEBT IHSTRUMEH'l'S PAYABLE 2790000.00~ TOTAL LIABILTIES 208195.75- 217855.67~ 2793125.00- 217208.46- FUND BALANCES 16586235.85- 543886.79- 97495.92 10i380.99 TOTAL FUND EQUITY 16586235.85- 543886.79- 97495.92 107380.99 TOfAL LIAB,FHD BAL, RETD EARNS 16794431.60- 761i42.46- 2695629.08- 109827.47- f f e e BGLl02 CITY OF DUBLIN P~.GE 1 4/14/94 BALANCE SHEET 9.56.07 FOR THE PERIOD 7/93 THROUGH 3/94 INTERNAL ENTERPRISE FIXED ASSETS GENERAL LONG SERVICE FUNDS GROUP OF TERM DEBT FUND ACCOlJllTS ACCOUHT GROUP ASSETS CASH 313061.92 8637.38~ CASll WITH FISCAL AGENT 1717488.10 UJWI)RTIZED BOND DISCOUNT DlVESTHEffTS AT COST RECEIVABLES: TAXES ACCOOlfTS (NET) INTEREST ASSESSMENTS RENTS NOTES DUE FROM CYl'HERS INVENTORY AT COST PREPAID I'l'EMS 119.60 FIXED ASSETS 165970.10 21623460.54 470014.62 JJllUll'l'S TO BE PROVIDED 2548360.41 TOTAL ASSETS 479151. 62 23332311. 26 47oo1L62 2548360.41 UAB I FND BAL I RETlID EARNINGS DEPOSITS FOR PRIVATE DEVELPMNT DEPOSITS OTHERS PAYABLES:ACCOUllTS - INTEREST PAYROLL DUE TO OOHERS DEBT INSTRUMENTS PAYABLE 18525000.00- 2548360.41- TOTAL LIABILITIES 18525000.00- 2548360.41~ FUtfD BALAHCE 310893.88- 302578 .74 COH'l'RIBUTIONS 168257.74- 5109890.00- IIfVESTMElfTS IN FIXED ASSETS 470014.62- mAINED EARNINGS TOTAL FUND EQUITY 479151.62- 4807311.26~ 470014.62- 'roTAL Lill, FHD BAL, RETD E!RlfS 479151. 62- 23332311. 26- 470014 .62- 2548360.41- , , e e BGU04 THE CI'l'Y OF DUBLIN STATEMENT SBOIiIlIG PA 4/14/94 REVENUES VERSUS EXPENDITURE 9.17.12 FOR THE PERIOD 7/93 THROOGH 3/94 GENERAL REVENUE FUND CURREN'!' PERIOD BUDGET ACTUAL PERCENT VARH.NCE ********REVEBUES******* PROPERTY TAXES 3839040.00-- 2188434.18- 57.0 1650605.82~ SALES TAX 5560000.00- 4232659.24- 76.1 1327340.76~ REAL PROPERTY TRANSFERS 73000.00- 47235.96- 64.7 25764.04- TRABSIElfT ocrnPAKCY TAX 86000.00- 67468.00- 78.5 18532.00- FiAHCBISE TAXES 505900.00- 229229.94- 45.3 276670.06- LICENSES & PERMITS 375600.00- 277353.39- 73;8 98246.61- PIHES & FORFJITURES 32000.00- 27367.09- 85.5 4632.91- USES OF MOREY ABD PROPERTY 881100.00- 440381.07- 50.0 440718.93- IH'l'ERNGOVERHMEHTAL FROM STATE 964425.00- 605235.18- 62.8 359189.82- CHARGES FOR SERVICES 714533.00- 411759.78- 57.6 302773.22- {fflIER SOURCES OF REVENUE 28100.00- 140458.68- 499.9 112358.68 TOTAL REVENUE 13059698.00- 8667582.51- 66.4 4392115.49- *******EXPEHDITURES******* GENERAL GOVERIMEIIT AcrmTIES: HON-DEPARTMMAL 45625.00 .00 45625.00 CITY COOlICIL 1010 112438.00 75377 .41 67.0 37060.59 CITY MAHAGER 1020 258909.00 182613.23 70.5 76295.77 CITY ATTORNEY 1030 306170.00 180879.86 59.1 125290.14 ADMIN SERVICES 1040 414253.00 271630.33 65.6 142622.67 BlJILDIHG MAnGEMElfT 1050 334867.00 213666.52 63.8 121200.48 FACILITY REH'l'AL 1050-719 1532816.00 1444778.58 94.3 88037.42 IHSURAlfCE COST CEHTER lOGO 169656.00 145558.59 85.8 24097. 41 ELECl'IOHS COST CEllTER 1070 12910.00 10802.75 83.7 2107.25 ACTIVITY roTAL 3187644 .00 2525307.27 79.2 662336.73 PUBLIC SAFETY: POLICE 2010 3109012.00 1577442.12 50.7 1531569.88 CROSSING GUARDS COST 2020 .00 .00 .00 A1UHAL CONTROL 2030 103100.00 .00 103100.00 TRAFFIC SIGNAlS 2040 .00 .00 .00 DISASTER PREAPREDNESS 2050 37067.00 23148.08 62.4 13918.92 FIRE SERVICES JPA 2060 2733103.00 2179361. 60 79.7 553741.40 ACIIVITY TOTAL 5982282.00 3779951. 80 63.2 2202330.20 TRABSPORTATION: PUBLIC WORKS 3010 288715.00 194967.76 67.5 93747.24 STREET MAINTENANCE 3020 165025.00 707.91 .4 164317.09 STREET TREE MAINTEHAlfCE 3040 48960.00 29994.48 61.3 18965.52 STREET WDSCAPE MAIliT. 3050 160260.00 107917.03 67.3 52342.97 PARATRANSIT SERVICES 3060 .00 .00 .00 ACTIVITY roTll 662960.00 333587.18 50.3 329372.82 HEALTH & WELFARE: VECIOR CONTROL 5010 .00 .00 .00 wASTE MANAGEMENT 5020 100.00 18.24 18.2 81.76 ACIIVITY TOB.L 100.00 18.24 18.2 81. 76 CULTURE & LEISURE SERVICES: LIBRARY SERVICES 8010 165000.00 S25OO.00 50.0 82500.00 CULTURAL ACTIVITIES 8011 SOOO.OO 8000 . 00 100.0 .00 HERITAGE COOER S012 10850.00 '1.800.90 16.6 9049.10 - e GL104 THE CITY OF DUBLIN STATEMENT SHlllIHG PAGE 2 4/14/94 REVENUES VERSUS EXPENDITURE 9.17.12 FOR THE PERIOD 7/93 TIIROOGR 3/94 GENERAL REVENUE FUHD CURREH'l PERIOD BUDGET ACTUAL PERCEltT VARIANCE DUBLIN CEMETERY 8013 .00 1223.55 1223.55- PARK MAIKTEIfANCE 8020 591955.00 362029.40 61.2 229925.60 COMMUNITY CABLE TV 8030 20279.00 20279.00 100.0 .00 RECREATION AOON. 8040 176453.00 125908.31 71.4 50544.69 PLAYGROOHDS 8045 80378.00 50275.25 62.5 30102.75 SHAlUfOB CENTER 8050 125344.00 78493.13 62.6 46850.87 PRESCHOOL 8055 36966.00 24659.04 .66.1. 12306.96 TEENS PROGRAM 8060 34350.00 19542.40 56.9 14807.60 fIELD SCHEDULING 8065 105635.00 50829.43 48.1 54805.57 YOUTH SPORTS 8066 31043.00 22493.28 72.5 8549.72 SPECIAL EVElI'l'S 8070 31070.00 17401. 91 56.0 13668.09 SmIOR CENTER 8080 137449.00 68349.57 49.7 69099 . 43 RECREATION INSTRUCTION 8090 91764.00 52215.78 56.9 39548.22 ~.Q{lATICS 8100 199966.00 128562.29 64.3 71403.71 ACTIVITY MAL 1846502.00 1114563.24 60.4 731938.76 CCIOOJlfITY DEVELOPHElrr: PWHIRG 9010 560879.00 350472.52 62.5 210406.48 BUILDING SAFETY 9020 256241.00 167522.24 65.4 88718.76 ENGINEERING 9030 173970.00 173825.18 99.9 144.82 EOOBOMIC DEVELOPMENT 9040 9610.00 5685.11 59.2 3924.89 ACTIVITY TOrAL 1000700.00 697505.05 69.1 303194.95 CAPITAL IMPROVEMENT PROJECTS: COMHUHITY IMPROVEMENTS 94HH 50000.00 2912.39 5.8 47087.61 PARKS 95Hl1 20000.00 8201. 22 41.0 11798.78 STREff CONSTRC/IMPROVMT 96HH 100791.00 12983.09 12.9 81801.91 ACTIVITY TOTAL 170791.00 24096.70 14.1 146694.30 j TAL EXPENDITURES 12850979.00 8475029.48 65.9 4375949.52 .CESS <REVEHUE>EXPEHDITORES 208719.00- 192553.03- 92.3 16165.97- . RAHSFERS IN FROM OTHER FUNDS .00 .00 .00 fRANSFERS OUT TO OTHER FmIDS .00 29875.68 29875.68- EXCESS <REVENUE> EXPENDITURE 208719.00- 162677.35- 71.9 46041. 65- f , e e BGLlO4 THE CITY OF DUBLIN STATEMENT SmNG PAGE 1 4/14/94 REVENUES VERSUS EXPENDITURE 9.19.30 FOR THE PERIOD 7/93 THROUGH 3/94 SPECIJ..L REVENUE FUNDS CURRENT PERIOD BUDGET ACTUJ..L PERCENT VARIANCE ********REVENUES******* SALES TAX 114000.00- 88007.38p 77.2 25992.62- FIlfES & FORFEITURES 26500.00. 26564.35- 100.2 64.35 USES OF MOREY AND PROPERTY 16430.00- .00 16430.000- mERHGOVERlfMEHTAL FROM STATE 781878.00- 365852.81- 46.8 416025.19- mERGOVERHMEHTJ..L FROM COUNTY 38265.50- 90246.83- 235.8 51981. 33 mERGOVERJIMElI'I'AL FROM FEDERAL 2154582.00- 62428.57- 2.9 2092153.43- CHARGES FOR SERVICES 716557.00- 382807.46- 53.4 333749.54- OTHER SOURCES OF REVENUE 5000.00- 8294.03- 165.9 3294.03 'MAL REVENUE 3853212.50- 1024201.43- 26.6 2829011. 07- *******EXPEHDITURES******* GKHERAL GOVERHMM ACTIVITIES: lfON-DEPARTMEHTJ..L .00 .00 .00 CITY COUNCIL 2450.00 .00 2450.00 CITY HAHAGER .00 .00 .00 CITY ATTORNEY .00 .00 .00 ACTIVITY TOTJ..L 2450.00 .00 2450.00 PUBLIC SAFETY: POLICE 18170.00 5656. 40 31.1 12513.60 TRAFFIC SIGNALS 93500.00 49257.80 52.7 44242.20 ACrIVITY MAL 111670.00 54914.20 49.2 56755.80 TRAlfSPORTATION: STREET MAINTENANCE 177865.00 132694.89 74.6 45170.11 STREET SWEEPING - 67200.00 46016.24 68.5 21183.76 STREET LANDSCAPE MAMENAHCE .00 .00 .00 ACTIVITY TQTAL 245065.00 178711.13 72.9 66353.87 HEALTH & WELFARE: WASTE MANAGEMENT 572236.00 261951.35 45.8 310284.65 CULTURE & LEISURE SERVICES: COMKUHITY DEVELOPMENT: ENGINEERING 116497.00 98076.43 84.2 18420.57 ACTIVITY TOTAL 116497.00 98076.43 84.2 18420.57 CAPITAL IMPROVEMENT PROJECTS: GENERAL CIP PROJECTS .00 .00 .00 CQIOOlIfITY IMPROVEKENTS 181223.50 34118.87 18.8 147104.63 PARKS 135564.00 110738.17 81.7 24825.83 STREET CONSTRUCTION/IMPROVMT 2397413.00 47757.38 2.0 2349655.62 ACrIVITY TOTJ..L 2714200.50 192614042 7.1 2521586.08 TOT A L EXPENDITURES 3762118.50 786267.53 20.9 2975850.97 EXCESS <REVElrnE>EXPnIDlTU~E 91094.00- 237933.90- 261. 2 146839.90 TRANSFERS HI FROM OTHER FUNDS .00 32728.18. 32728.18 TRANSFERS OUT TO OTHER FUNDS .00 2852.50 2852.50- EXCESS <R~JENUE> EXPENDITURE 91094.00- 267809.58- 294.0 176715.58 e e BGU04 THE CITY OF DUBLIN STATEMEHT SHOWING PAGE 1 4/14/94 REVENUES VERSUS EXPElfDITURE 9.40.29 FOR m PERIOD 7/93 THROUGH 3/94 SPECIlL ASSESSMEll'l' FUlIDS CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVEHUES******* SPECIAL BENEFITS ASSESSMENTS 523913.00- 267012.62- 51.0 256900.38- USES OF MONEY AND PROPERTY 28260.00- .00 28260.00- 0l'BER SOURCES OF REVENUE 10400.00- 10116.76- 97.3 283.24. TOTAL REVENUE 562573.00w 277129.38- 49.3 285443.62- *******EXPEHDITURES******* GEHERAL GOVERlfMEHT ACrrVITIES: NOH-DEPARTMOOAL 650731. 00 650730.75 100.0 .25 FINANCE DEPARTMElI'I' .00 .00 .00 ACTIVITY TOTAL 650731. 00 650730.75 100.0 .25 PUBLIC SAFETY: TRFC SIGS/STREET LIGHTING 202300.00 122729.47 60.7 79570.53 ACTIVITY TOTAL 202300.00 122729.47 60.7 79570.53 TRAlfSPORTATION: PUBLIC WORKS 1701. 00 1908.30 112.2 207.30- STREET TREE HArnEHAHCE 11350.00 3464.57 30.5 7885.43 STREET LAHDSCAPE MAINTENAllCE 110085.00 68256.25 62.0 41828.75 ACTIVITY TOTAL 123136.00 73629.12 59.8 49506.88 HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUHI'l'Y DEVEIDPMEHT: EHGINEERING 7550.00 3550.96 47.0 3999.04 ACTIVITY roTAL 7550.00 3550.96 47.0 3999.04 CAPITAL IMPROVEHEH'l PROJECTS: COMMUHrfY IKPROVEMENTS .00 4500.00 4500.00- STREET CONSTRUCTIOlf/IMPROVIfl' .00 .00 .00 ACTIVITY TarAt .00 4500.00 4500.00- -; ~ l' A L EXPENDITURES 983717.00 855140.30 86.9 128576.70 E1CfSS<REVENUE>EXPKNDITURE 421144.00 578010.92 137.2 156866.92- TRANSFERS IN FROM OTHER FUNDS .00 110995.44. 110995.44 TRANSFERS OUT TO OTHER FUlIDS .00 110995.44 110995.44- EXCESS <REVENUE> EXPENDITURE UI144.00 . 578010.92 137.2 156866.92. e e BGLl04 THE CITY OF DUBLIN STATEMENT SIKMING PAGE 1 4/14/94 REVENUES VERSUS EXPElIDITURE 9.52.21 FOR THE PERIOD 7/93 TBROOGH 3/94 CAPITAL IMPROVEMENT FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVEHUES******* USES OF MONEY Am> PROPERTY 4340.00- 721. 53- 16.6 3618.47- OTHER SOORCES OF REVENUE 925445.00- 19312.00- 2.1 906133.00- TOTAL REVENUE 929785.00- 20033.53- 2.2 909751.47- *******EXPEBDITURES******* GEHERAL GOVERNMENT ACTIVITIES: AClIVITY TOTAL .00 .00 .00 POBLIC SAFETY: TRANSPORTATION: HEALTH & WELF~jE: CULTr.RE & LEISURE SERVICES: COMH;:~HTY DEVELOPMENT: CAPI'I.' t IMPROVEMENT PROJEcrS: STR~i! COHSTRUCTIOH/IMPROVMT 646136.00 78842.09 12.2 567293.91 ACTIVITY TOTAL 646136.00 78842.09 12.2 567293.91 TOT A L EXPENDITURES 646136.00 78842.09 12.2 567293.91 EXCESS<REVKHUE> EXPElIDITURE 283649.00- 58808.56 20.7- 342457.56- EXCESS <RmHUE> EXPENDITURE 283649.00- 58808.56 20.7- 342457.56- I I e e BGLl04 THE CITY OF DUBLIH STATEMENT SHOWING PAGE 1 4/14/94 REVENUES VERSUS EXPENDITURE 9.45.15 FOR THE PERIOD 7/93 THROUGH 3/94 INTERll!L SERVICE FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* USES OF MONEY AND PROPERTY 9360.00- .00 9360.00- CHARGES FOR SERVICES 13 7229 .00- 96725 .11- 70.5 40503.89- OTHER SOURCES OF REVENUE 6711.00- 6305.50- 94.0 405.50- TOTAL REVENUE 153300.00- 103030.61- 67.2 50269.39- 2******EXPEHDITURES******* GENERAL GOVERlfMEHT ACTIVITIES: NOll-DEPARTMENTAL 201514.00 89037.73 44.2 112476.27 ACTIVITY TOTAL 201514.00 89037.73 44.2 112476.27 LIC SAFETY: IldlSPORTATION: HE}.LTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: CAPITAL IMPROVEMEH'l' PROJECTS: GENERAL CIP PROJECTS .00 .00 .00 ACTIVITY TOTAL .00 .00 .00 TOT A L EXPENDITURES 201514.00 89037.73 44.2 112476.27 EXCESS<REVENUE>EXPEHDITURE 48214.00 13992.88- 29.0- 62206.88 TRANSFERS OUT TO omER FUNDS .00 .00 .00 EXCESS <REVENUE> EXPENDITURE 48214.00 13992.88- 29.0- 62206.88 e It BGU04 THE CITY OF DUBLIN STATEMENT SlIOWING PAGE 1 4/14/94 REVENUES VERSUS EXPENDITURE 9.48.50 FOR m PERIOD 7/93 THROOGH 3/94 ElI'IDPRISE FUNDS CURRElIT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* USES OF MONEY AND PROPERTY 1611177 .00- 1503000.91- 93.3 108176.09- roTAL REVENUE 1611177.00- 1503000.91- 93.3 108176.09- *******EXPEHDITURES******* GEHERAL GOVERlfMEIfT ACTIVITIES: lfOH-DEPARTMEllTAL 1532876.00 1455000.65 94.9 77875.35 CITY MABAGER .00 .00 .00 FIHAHCE DEPARTMEHT 8250.00 1126.20 13.7 7123.80 ACTIVITY TOTAL 1541126.00 1456126.85 94.5 84999.15 Dt'BLIC SAFETY: DISASTER PREAPREDHESS 1140.00 .00 1140.00 ACTIVITY TOTAL 1140.00 .00 1140.00 TPANSPORTATION: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: RECREATION ADMINISTRATION 11800.00 8262.88 70.0 3537.12 smOR CENTER 450.00 338.14 75.1 111. 86 ACTIVITY TOfAL 12250.00 8601. 02 70.2 3648.98 COMMOBITY DEVEUlPMEIfT: CAPITAL IMPROVEMENT PROJECTS: TOT A L EXPENDITURES 1554516.00 1464727.87 94.2 89788.13 EXCESS<REVENUE>EXPENDITURES 56661.00- 38273.04- 67.5 18387.96- EXCESS <REVENUE> EXPENDITURE 56661.00- 38273.04- 67.5 18387.96-