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Home My WebLink About4.08 FinRpt 5-94 . . ~ CITY OF DUBLIN AGENDA STATEMENT CITY COUNCIL MEETING DATE: June 27, 1994 SUBJECT: Financial Report For The Month of May 1994. ftiA Prepared by: Paul S. Rankin, Assistant city Manager) EXHIBITS ATTACHED: 1. /Balance Sheet and Income statements for the Period Ending May 31" 1994 RECOMMENDATION: 1'\ /cept and file the report. FINANCIAL: ~V See report for monthly financial activity. DESCRIPTION: This item provides the monthly financial statement for the month of May 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 continue to track at slightly below the level collected in the prior year. In Fiscal Year 1992/93 as of May the city had collected nearly 88.0% of the actual General Fund Revenues collected for the entire year. The May 1994 report shows in the current year 86.8% of the budgeted General Fund revenues have been received. The License and permi t category is tracking at below the budgeted level. This is primarily attributable to the Business License and Building Permit revenues. The slow down in the economy has affected both of these revenue sources. The Intergovernmental Revenue is also below the level for the prior year. This is primarily due to a delay in the release of Home owner Property Tax Revenue from Alameda County. The minor shortfall shown in the May report is anticipated to be reversed once the final accounting accruals are made at year end. Interest revenue is one category which is underreported until the year end accounting adjustments are made. During Fiscal Year 1993/94 the city diversified a large percentage of its investment portfolio. The shift was made to Federal securities which make interest payments semiannually. For example a security may make interest payments on February 15th and August 15th. The interest earned during the period of February 15th through JUne 30th will be accrued as a 1993/94 revenue, even though it is received in Fiscal Year 1994/95. As presented in the Preliminary 1994/95 Budget Staff anticipate that the 1993/94 General Fund Revenues will exceed the original budget estimate. GENERAL FUND EXPENDITURES Total expenditures as of May 31st for the General Fund, represent 81.7% authorized budget. By comparison in the prior Fiscal Year the City had expended 71.7% of its annual 1992/93 General Fund Expenditures as of May 31st. The following are explanations of significant deviations by Program Area. General Government: (86.2% of Budgeted Expenditures through May 1994 compared to 95.0% in the prior Fiscal Year.) This reflects favorable results in the Insurance and Legal services activities. In addition, the City is required to budget the Gross Debt Service payment, even though the actual payment is reduced by interest income on the Reserve Fund s held by the Trustee. Recreation: (75.5.2% of Budgeted Expenditures compared to 81.3% in the prior Fiscal Year..) ExPendi tures have been impacted as a resul t of vacancies. Also the 1993/94 budget provided for a through May 1994 part-time Staffing major excursion for ---------------------------------------------------------------------- ITEM NO. 4.8 COPIES TO: C IT Y C L E. R K FILE ~ -';"""";...., . .-~:;j:~..= . . Senior Citizens. Due to a lack of participants the event was cancelled and therefore the costs will not be incurred. Capital Projects: (70.6% of Budgeted Expenditures through May 1994 compared to 61.0% in the prior Fiscal Year.) This category can fluctuate significantly. For example, the April 1994 report showed only 15% e~ended. In the months of May and June the city is finalizing several Cap1tal Projects. It is recommended that the ci ty Council receive and file these reports as authorized by section 41004 of the California Government Code. . CITY OF DUBLIN'S FINANCIAL STATEMENTS FOR THE MONTH OF MAY 1994 Prepared by The Finance Department . BGL102 . CITY OF DUBLIN . PAGE 1 6/06/94 BALANCE SHEET 10.47.53 FOR THE ' PERIOD 7/93 THROUGH 5/94 GENERAL SPECIAL SPECIAL CAPITAL REVENUE REVENUE ASSESSMEHT IMPROVEMENT FUNDS FUNDS FUNDS FUNDS ASSETS CASH 2174699.72- 554205.62 543869.19 1678.49 CASH WITH FISCAL AGENT 121210.04 UNAMORTIZED BOND DISCOUNT INVESTMENTS AT COST 19487854.88 RECEIVABLES:TAXES ACCOUllTS (NET) 191123.00 110795.71 INTEREST ASSESSMENTS RENTS NOTES DUE FROM OTHERS INVENTORY AT COST PREPAID ITEMS 4625.39 FIXED ASSETS Al!OUNTS TO BE PROVIDED 2232500.00 TOTAL ASSETS 17508903.55 554205.62 2897579.23 112474.20 LIAB, FHD BAL, RETND EARNINGS DEPOSITS FOR PRIVATE DEVELPMNT 5753.53- DEPOSITS FOR AB1600 FEES 227458.46- DEPOSITS OTHERS 192892.66- 3125.00- PAYABLES:ACCOUHTS 9034.60- 233093.60- INTEREST PAYROLL 66344.26- DUE TO OTHERS DEBT INSTRUMENTS PAYABLE 2790000:00- TOTAL LIABILTIES 274025.05- 233093.60- 2793125.00- 227458.46- FUND BALANCES 17234878.50- 321112.02- 104454.23- 114984.26 TOTAL FUND EQUITY 17234878.50- 321112.02- 104454.23- 114984.26 TOTAL LIAB,FHD BAL, RETD EARNS 17508903.55- 554205.62- 2897579.23- 112474.20- BGLl02 . CITY OF DUBLIN . PAGE 1 6/06/94 BALAlfCE SHEET 10.48.17 FOR THE PERroD 7/93 THROUGH 5/94 INTERNAL ENTERPRISE FIXED ASSETS GENERAL LONG SERVICE FUNDS GROUP OF TERM DEBT FUND ACCOUNTS ACCOUfIT GROUP ASSETS CASH 315499.49 4232.72 CASH WITH FISCAL AGENT 1717488.10 UNAMORTIZED BOND DISCOUNT INVESTIIENTS AT COST RECEIVABLES:TAXES ACCOUNTS (NET) INTEREST ASSESSMENTS RENTS NOTES DUE FROM OTHERS INVENTORY AT COST PREPAID ITEMS 119.60 , FIXED ASSETS 165970.10 21623460.54 470014.62 AHOUlITS TO BE PROVIDED 2548360.41 TOTAL ASSETS 481589.19 23345181. 36 470014.62 2548360.41 LIAB, FND BAL, RETND EARNINGS DEPOSITS FOR PRIVATE DEVELPHNT DEPOSITS OTHERS PAYABLES:ACCOUNTS INTEREST PAYROLL DUE TO OTHERS DEBT INSTRUMENTS PAYABLE 18525000.00- 2548360.41- TOTAL LIABILITIES 18525000.00. 2548360.41- FUlfD BALAlfCE 313331.45- 289708.64 COIITRIBUTIONS 168257.74. 5109890.00- INVESTMENTS IN FIXED ASSETS 470014.62. RETAINED EARNINGS TOTAL FUND EQUITY 481589.19- 4820181.36- 470014.62- TOTAL LIAB,FND BAL, RETD EARNS 481589.19- 23345181. 36- 470014 .62- 2548360.41- BGLI04 _HE CITY OF DUBLIN S'rATEHEHT SHOWING . PA 6/06/94 REVENUES VERSUS EXPENDITURE 10.11.41 FOR THE PERIOD 7/93 THROUGH 5/94 GENERAL REVENUE FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* PROPERTY TAXES 3839040.00- 3318174.11- 86.4 520865.89- SALES TAX 5560000.00- 5051959.24- 90.9 508040.76- REAL PROPERTY TRANSFERS 73000.00- 56844.94- 77.9 16155.06- TRANSIENT OCCUPANCY TAX 86000.00- 88318.00- 102.7 2318.00 FRANCHISE TAXES 505900.00- 473952.90- 93.7 31947.10- LICENSES & PERMITS 375600.00- 323775.13- 86.2 51824.87- FINES & FORFEITURES 32000.00- 32730.39- 102.3 730.39 USES OF MOIlEY AND PROPERTY 881100.00- 602272.30- 68.4 278827.70- . INTERGOVERNMENTAL FRO" STATE 964425.00- 763612.20- 79.2 200812.80- CHARGES FOR SERVICES 714533.00- 470240.63- 65.8 244292.37~ OTHER SOURCES OF REVENUE 30649.09- 155139.56- 506.2 124490.47 TOTAL REVENUE 13062247.09- 11337019.40- 86.8 1725227.69- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: }~N-DEPARTMEHTAL 45625.00 .00 45625.00 CITY COUNCIL 1010 112438.00 94968.49 84.5 17469.51 CITY MANAGER 1020 258909.00 231699.43 89.5 27209.57 CITY ATTORlfEY 1030 306170.00 207340.94 67.7 98829.06 ADMIN SERVICES 1040 414253.00 342145.46 82.6 72107.54 BUILDING MANAGEMENT 1050 334867.00 253666.44 75.8 81200.56 FACILITY RENTAL 1050-719 1532816.00 1458500.27 95.2 I 74315.73 INSURANCE COST CENTER 1060 169656.00 148358.07 87.4 21297.93 ELECTIONS COST CENTER 1070 12910.00 10817.83 83.8 2092.17 ACTIVITY TOTAL 3187644.00 2747496.93 86.2 440147.07 PUBLIC SAFETY: POLICE 2010 3109012.00 2247206.72 72.3 861805.28 CROSSING GUARDS COST 2020 .00 .00 .00 ANIMAL CONTROL 2030 103100.00 68975.64 66.9 ' 34124.36 TRAFFIC SIGNALS 2040 .00 .00 .00 DISASTER PREAPREDNESS 2050 37067.00 25992.53 70.1 11074.47 FIRE SERVICES JPA 2060 2733103.00 2615233.92 95.7 117869.08 ACTIVITY TOTAL 5982282.00 4957408.81 82.9 1024873.19 TRANSPORTATIOn: PUBLIC WORKS 3010 288715.00 247629.40 85.8 41085.60 STREET MAINTENANCE 3020 165025.00 877.22 .5 164147.78 STREET TREE MAINTENANCE 3040 48960.00 35909.47 73.3 13050.53 STREET LANDSCAPE MAINT. 3050 160260.00 135558.95 84.6 24701.05 PARATRANSIT SERVICES 3060 .00 .00 .00 ACTIVITY TOTAL 662960.00 419975.04 63.3 242984.96 HEALTH & WELFARE: VECTOR CONTROL 5010 .00 .00 .00 WASTE MANAGEMENT 5020 100.00 18.24 18.2 81. 76 ACTIVITY TOTAL 100.00 18.24 18.2 81. 76 CULTURE & LEISURE SERVICES: LIBRARY SERVICES 8010 165000.00 123750.00 75.0 41250.00 CULTURAL ACTIVITIES 8011 8000.00 8000.00 100.0 .00 HERITAGE CENTER 8012 10850.00 973.03 9.0 9876.97 I GL104 THJlllty OF DUBLIN STATEMENT SHOWING . PAGE 2 6/06/94 REVENUES VERSUS EXPENDITURE 10.11.41 FOR THE PERIOD 7/93 THROUGH 5/94 GENERAL REVEllOE FmID CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE DUBLIN CEMETERY 8013 .00 6789.41 . 6789.41- PARK MAINTENANCE 8020 591955.00 429330.94 72.5 162624.06 COMMUNITY CABLE TV 8030 20279.00 20279.00 100.0 .00 RECREATION ADMIN. 8040 176453.00 158933.98 90.1 17519.02 PLAYGROUNDS 8045 80378.00 60436.95 75.2 19941.05 SRANUOlI CENTER 8050 125344.00 97316.46 77.6 28027.54 PRESCHOOL 8055 37290.59 31931. 44 85.6 5359.15 TEENS PROGRAM 8060 34350.00 25897.94 75.4 8452.06 ADULT SPORTS 8065 . 105635.00 66325.47 62.8 39309.53 YOUTH SPORTS 8066 32880.85 26161. 74 79.6 6719.11 SPECIAL EVENTS 8070 31070.00 27128.23 87.3 3941.77 SENIOR CENTER 8080 137449.00 86728.19 63.1 50720.81 RECREATION INSTRUCTION 8090 91764.00 66719.70 72.7 25044.30 AQUATICS 8100 199966.00 159676.96 79.9 40289.04 ACTIVITY TOTAL 1848664.44 1396379.44 75.5 452285.00 COMMUNITY DEVELOPMENT: PLANNIlIG 9010 560879.00 439117.26 78.3 121761. 74 BUILDIlfG SAFETY 9020 256241.00 212545.07 82.9 43695.93 ENGINEERING 9030 173970.00 195958.86 112.6 21988.86- , ECONOMIC DEVELOPMENT 9040 9610.00 6293 .13 65.5 3316.87 ACTIVITY TOTAL 1000700.00 853914.32 85.3 146785.68 CAPITAL IMPROVEMENT PROJECTS: COMMUNITY IMPROVEMENTS 94NN 50000.00 19847.70 39.7 30152.30 ! PARKS 95NlI 20000.00 10243.70 51.2 9756.30 STREET CONSTRC/IMPROVMT 96NN 100791.00 90539.54 89.8 10251. 46 ACTIVITY TOTAL 170791.00 120630.94 70.6 50160.06 TOT A L EXPENDITURES 12853141.44 10495823.72 81.7 2357317.72 EXCESS <REVENUE>EXPENDITURES 209105.65~ 841195.68- 402.3 632090.03 TRANSFERS IN FROM OTHER FUNDS .00 .00 .00 TRANSFERS OUT TO OTHER FUNDS .00 29875.68 29875.68- EXCESS <REVENUE> EXPENDITURE 209105.65- 811320. oo~ 388.0 602214 . 35 BGL104 TATY OF DUBLIN STATEMENT SJDlIlIG . PAGE 1 6/06/94 REVENUES VERSUS EXP~DITURE 10.16.34 FOR THE PERIOD 7/93 THROUGH 5/94 SPECIAL REVENUE FURDS CURRENT PERIOD BUDGET ACTUAL PERCENT VARIABCE ********REVENUES******* SALES TAX 114000.00- 105681. 55- 92.7 8318.45- FINES & FORFEITURES 26500.00- 29529.67~ 111.4 3029.67 USES OF HONEY AND PROPERTY 16430.00- .00 16430.00- IHTERNGOVERNMEHTAL FROM STATE 781878.00- 395937.24- 50.6 385940.76- INTERGOVERNMENTAL FROM COUNTY 38265.50- 90246.83~ 235.8 51981.33 INTERGOVERNMENTAL FROM FEDERAL 2154582.00- 63385.18- 2.9 @91196.82- CHARGES FOR SERVICES 716557.00- 638595.85- 89.1 77961.15- OTHER SOURCES OF REVENUE 5000.00- 8294.03~ 165.9 3294.03 TOTAL REVENUE 3853212.50- 1331670.35- 34.6 2521542.15- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: NON-DEPARTMENTAL .00 .00 .00 CITY COUNCIL 2450.00 .00 2450.00 CITY MANAGER .00 .00 .00 CITY ATTORNEY .00 .00 .00 ACTIVITY TOTAL 2450.00 .00 2450.00 PUBLIC SAFETY: POLICE 18170.00 8616.86 47.4 9553.14 TRAFFIC SIGNALS 93500.00 58920.93 63.0 34579.07 ACTIVITY TOTAL 111670.00 67537.79 60.5 44132.21 TRANSPORTATION: STREET MAINTENANCE 177865.00 141650.32 79.6 36214.68 STREET SWEEPING 67200.00 58596.46 87.2 8603.54 STREET LANDSCAPE MAINTENANCE .00 .00 .00 ACTIVITY TOTAL 245065.00 200246.78 81.7 44818.22 HEALTH & WELFARE: WASTE MANAGEMENT 572236.00 542495.39 94.8 29740.61 CULTURE & LEISURE SERVICES: ~ITY DEVELOPMENT: ENGINEERING 116497.00 111094.84 95.4 5402.16 ACTIVITY TOTAL 116497.00 111094.84 95.4 5402.16 CAPITAL IMPROVEMENT PROJECTS: GENERAL CIP PROJECTS .00 .00 .00 COMMUNITY IMPROVEMENTS 181223.50 37648.87 20.8 143574.63 PARKS 135564 . 00 132362.79 97.6 3201. 21 STREET CONSTRUCTION/IMPROVMT 2488552.00 225124.76 9.0 2263427.24 ACTIVITY TOTAL 2805339.50 395136.42 14.1 2410203.08 TOT A L EXPENDITURES 3853257.50 1316511. 22 34.2 2536746.28 EXCESS <REVENUE>EXPENDITURE 45.00 15159.13~ 3687.0- 15204.13 TRANSFERS IN FROM OTHER FUNDS .00 32728.18- 32728.18 TRANSFERS OUT TO OTHER FUNDS .00 2852.50 2852.50- EXCESS <REVENUE> EXPENDITURE 45.00 45034.81- 77.4- 45079.81 BGLI04 T~TY OF DUBLIN STATEMENT SHOWING . PAGE 1 6/06/94 REVENUES VERSUS EXPENDITURE 10.22.45 FOR THE PERIOD 7/93 THROUGH 5/94 SPECIAL ASSESSMEH'l FUHDS CURRENT PERIOD BUDGET ACTUAL PERCENT VARIANCE ********REVENUES******* SPECIAL BENEFITS ASSESSMENTS 523913.00- 515249.75- 98.3 8663.25- USES OF HONEY AND PROPERTY 28260.00- .00 28260.00- OTHER SOURCES OF REVENUE 10400.00- 14269.21- 137.2 3869.21 TOTAL REVENUE 562573.00- 529518.96- 94.1 33054.04- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: HOH-DEPARTMENTAL 650731.00 650730.75 100.0 .25 FINANCE DEPARTMENT .00 .00 .00 ACTIVITY TOTAL 650731.00 650730.75 100.0 .25 PUBLIC SAFETY: TRFC SIGS/STREET LIGHTIHG 202300.00 158231.88 78.2 44068.12 ACTIVITY TOTAL 202300.00 158231.88 78.2 44068.12 TRAIISPORTATIOII: PUBLIC WORKS 1701.00 2449.21 144.0 748.21- STREET TREE MAINTENANCE 11350.00 4446.75 39.2 6903 .25 STREET LANDSCAPE MAINTENANCE 110085.00 81670.18 74.2 I 28414.82 ACTIVITY TOTAL 123136.00 88566.14 71.9 34569.86 , HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: ElIGINEERING 7550.00 3550.96 47.0 3999.04 ACTIVITY TOTAL 7550.00 3550.96 47.0 3999.04 CAPITAL IMPROVEMENT PROJECTS: COMMUNITY IMPROVEMENTS .00 4500.00 4500.00- STREET COIISTRUCTION/IMPROVMT .00 .00 .00 ACTIVITY TarAL .00 4500.00 4500.00- TOT A L EXPENDITURES 983717.00 905579.73 92.1 78137.27 EXCESS<REVElIUE> EXPENDITURE 421144.00 376060.77 89.3 45083.23 TRANSFERS IN FROM OTHER FUNDS .00 110995.44- 110995.44 TRANSFERS OUT TO OTHER FOlIOS .00 110995.44 110995.44- ! EXCESS <REVENUE> EXPENDITURE 421144.00 376060.77 89.3 45083.23 ___._u .._..,_ . . PAGE 1 BGL104 THE CITY OF DUBLIN STATEMENT SHOWING 6/06/94 REVENUES VERSUS EXPENDITURE 10.34.58 FOR THE PERIOD 7/93 THROUGH 5/94 CAPITAL IMPROVEMENT FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIAlICE ttttt*t*REVENUES*t*t*** USES OF MONEY AND PROPERTY 4340.00- 721. 53- 16.6 3618.47- OTHER SOURCES OF REVENUE 925445.00- 19312.00- 2.1 906133.00- TOTAL REVENUE 929785.00- 20033.53- 2.2 909751.47- *****t*EXPENDITURES******* GENERAL GOVERlIMENT ACTIVITIES: NON-DEPARTMENTAL .00 .00 .00 ACTIVITY TOTAL .00 .00 .00 PUBLIC SAFETY: TRAlISPORTATION: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: CAPITAL IMPROVEMENT PROJECTS: STREET CONSTRUcrION/IMPROVMT 675426.00 86445.36 12.8 588980.64 ACTIVITY TOTAL 675426.00 86445.36 12.8 588980.64 TOT A L EXPElfDITURES 675426.00 86445.36 12.8 588980.64 EXCESS<REVENUE>EXPEHDITURE 254359.00- 66411.83 26.1- 320770.83- TRAlISFERS IN FROM OTHER FUNDS .00 .00 .00 I EXCESS <REVENUE> EXPENDITURE 254359.00- 66411.83 26.1- 320770.83- . . PAGE 1 BGLI04 TilE Crry OF DUBLIN STATEMENT SHOWING 6/06/94 REVENUES VERSUS EXPENDITURE 10.26.45 FOR THE PERIOD 7/93 THROUGH 5/94, INTERNAL SERVICE FUND CURRENT PERIOD BUDGET ACTUAL PERCENT VARIAlfCE ********REVENUES******* USES OF MONEY AND PROPERTY 9360.00- .00 9360.00- CHARGES FOR SERVICES 13 7229.00- 118100.69- 86.1 19128.31- OTHER SOURCES OF REVENUE 6711. 00- 7115.50- 106.0 404.50 TOTAL REVEllUE 153300.00- 125216.19- 81.7 28083.81- *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: NON-DEPARTMENTAL 201514.00 108785.74 54.0 92728.26 ACTIVITY TOTAL 201514.00 108785.74 54.0 92728.26 PUBLIC SAFETY: TRAlISPORT AT ION : HEALTH & WELFARE: CULTURE & LEISURE SERVICES: COMMUNITY DEVELOPMENT: CAPITAL IMPROVEMENT PROJECTS: GENERAL ClP PROJECTS .00 .00 .00 ACTIVITY TOTAL .00 .00 .00 TOT A L EXPENDITURES 201514.00 108785.74 54.0 92728.26 EXCESS<REVENUE>EXPENDITURE 48214.00 16430.45- 34.1- 64644.45 TRANSFERS OUT TO OTHER FUNDS .00 .00 .00 EXCESS <REVENUE> EXPENDITURE 48214.00 16430.45- 34.1- 64644.45 . . BGL104 THE CITY OF DUBLIN STATEMENT SHOWING PAGE 1 6/06/94 . , REVENUES VERSUS EXPENDITURE 10.30.53 FOR THE PERIOD 7/93 THROUGH 5/94 ENTERPRISE FUNDS CURRENT PERIOD BUDGET ACTUAL PERCENT I VARIANCE ********REVENUES******* USES OF MONEY AND PROPERTY 1611177.00- 1516722.60- 94.1 94454.40- TOTAL REVENUE 1611177.00- 1516722.60- 94.1 94454. ~O~ *******EXPENDITURES******* GENERAL GOVERNMENT ACTIVITIES: NON-DEPARTMENTAL 1532876.00 1455000.65 94.9 17875.35 CITY MANAGER .00 .00 .00 FINANCE DEPARTMENT 8250.00 1479.95 17.9 6770.05 ACTIVITY TOTAL 1541126.00 1456480.60 94.5 84645.40 PUBLIC SAFETY: DISASTER PREAPREDNESS 1140.00 .00 1140.00 ACTIVITY TOTAL 1140.00 .00 1140.00 TRANSPORTATION: HEALTH & WELFARE: CULTURE & LEISURE SERVICES: RECREATION ADMINISTRATION 11800.00 8760.72 74.2 3039.28 SENIOR CENTER 450.00 338.14 75.1 111. 86 ACHVITY TOTAL 12250.00 9098.86 74.3 3151.14 COHHUNITY DEVELOPMENT: CAPITAL IMPROVEMENT PROJECTS: TOT A L EXPENDITURES 1554516.00 1465579.46 94.3 88936.54 EXCESS<REVEHUE>EXPEHDITURES 56661.00- 51143.14- 90.3 5517.86- EXCESS <REVENUE> EXPENDITURE 56661. 00- 51143.14- 90.3 5517.86-