Loading...
01-12-2010 CC Rpt A05COUNCIL AGENDA STAFF REPORT cITTFF�Irlp,�+ N Y zo, o �a/p �gitl0i6 Meeting Date: January 12, AM 10. 29 Public Hearing: ❑ OFFICE Ci" Ci i Y OLEIRK Discussion Item: ❑ Ci1IN0 I ILt_S Consent Item: APPROVED AS RECOMMENDED 2010 JANUARY 5, 2� TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for November 2009. BACKGROUND/ANALYSIS: The Financial Report for November 2009 is attached for your review. The purpose of the monthly Financial Report is to inform the City Council, the City's citizens, and the City's staff about the financial progress of the City in meeting its service mission. The information includes the budgetary information for the City's annual financial plan as well as the actual resources received and the use of these resources in fulfilling the financial plan. The monthly Financial Report format was designed to present comparative information for the current fiscal year as well as the prior fiscal year: Current Fiscal Year: This section reports the original budget, the revised budget which includes any approved changes made during the fiscal year, and a proration of the reviewed budget based on the number of months that have lapsed during the fiscal year. Following the budget presentation columns, the year-to-date actual expenditures forthe fiscal year are reported and the dollar and percentage amounts that the year-to-date actual expenditures varied from the pro -rated (year-to-date) revised budget. Any variance of 10 percent or more is explained in the footnotes that are attached to the Financial Report. The footnote legend appears at the right of the column that reports the percentage variance. Prior Fiscal Year: This section reports the year-to-date prior fiscal year actual expenditures and the dollar and percentage amounts that the year-to-date prior year actual expenditures varied from the year-to-date current year actual expenditures. Please note that the percentage variance footnotes relate only to the variance of the current year actual expenditures vs. the current year budget; the footnotes do not explain the prior year percentage variances. APPROVED AS RECOMMENDED 95" AGENDA DATE: JANUARY 12, 2009 SUBJECT: MONTHLY FINANCIAL REPORT PAGE TWO Another design feature of the report is the schedule of revenues and expenditures by major fund types that are listed down the left margin of the report. The principal discretionary resource fund, the General Fund, is listed first and discloses its major revenue categories and the City functions for which these revenues are a financing resource. Following the General Fund, the non -discretionary enterprise and non -enterprise funds are reported showing their respective revenue and expenditures in a consolidated format. The report also will show each fund's "bottom line". That is, the net revenues and expenditures for the governmental type funds (such as the General Fund, Development Fee Funds, and Lighting and Landscaping District Funds), and the net profit for the enterprise funds (such as the Water Fund and Sewer Fund). All accruals are made at the end of the fiscal year. Therefore, the amounts reported could be subject to significant adjustments, upward or downward, at the end of the fiscal year. FISCAL IMPACT: Refer to the financial information presented in the report. Respectfully submitted, Michael S. [`lea r, Cit nager MSF:JRL:PS:gm Attachment Recommended by, Ju� L caster, Finance Director Month: 5 GENERAI, FUND REVENUES Property taxes Property taxes -Triple Flip Property taxes -VLF Swap Sales taxes Othertaxes Total taxes Motor vehicle in -lieu fees Fines and Penalties Interest income and franchise fees Community Development fees Cost reimbursements Other revenues Operating transfers Total revenues EXPENDITURES Legislative City Council City Attorney City Clerk City Manage Administration Contract Services Community Relations Human Resources Risk Management Community Develonment Administration Building Services Development Services Economic Development Community Services Administrative Neighborhood Services and Code Enforcement Public Safety Recreation Services City of Chino Hills Revenues, Expenditures, and Transfers Budget and Actual Comparative Analysis for the Month Ending November 30, 2009 Page i of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Year Revised Budget Actual vs Original Revised to Date Yea vs Year Current Year Annual Annual Revised to Date Actual Percentage to Date Actual Percentage Budget Budget Budget Actual Variance Variance Actual Variance Variance 3,770,300 3,770,300 1,570,958 - (1,570,958) (100.00%) (1) - - N/A 1,445,600 1,491,700 621,542 - (621,542) (100.00%) (1) - - N/A 6,394,800 6,394,800 2,664,500 - (2,664,500) (100.00%) (1) - - N/A 4,336,800 4,336,800 1,807,000 1,114,817 (692,183) (38.31%) (2) 1,033,348 81,469 7.88% 1,127,900 1,127,900 469,958 285,941 (184,017) (39.16%) (2) 262,472 23,469 8.94% 17,075,400 17,121,500 7,133,958 1,400,758 (5,733,200) (80.36%) 1,295,820 104,938 8.10% 190,000 190,000 79,167 52,831 (26,336) (33.27%) (2) 99,144 (46,313) (46.71%) 680,600 680,600 283,583 219,218 (64,365) (22.70%) (2) 199,580 19,638 9.84% 3,250,000 3,250,000 1,354,167 604,829 (749,338) (55.34%) (3) 1,204,649 (599,820) (49.79%) 2,401,900 2,491,900 1,000,792 904,270 (96,522) (9.640/.) 1,098,685 (194,415) (17.70%) 342,300 343,300 143,042 1,028,450 885,409 618.990/6 (4) 168,290 860,160 511.12% 5,602,900 5,677,900 2,365,792 2,519,925 154,134 6.52% 2,338,217 181,708 7.77% 2,766,500 2,766,500 1,152,708 1238,662 85,954 7.46% - 1,238,662 N/A 32,309,600 32,431,700 13,513,208 7,968,945 (5,544,264) (41.03%) 6,404,385 1,564,560 24.43% 266,100 266,100 110,875 79,587 31,288 28.22% (6) 87,861 (8,274) (9.42%) 350,000 358,400 149,333 177,487 (28,154) (18.85%) (7) 94,295 83,192 88.23% 804,800 804,800 335,333 276,000 59,334 17.69% (6) 291,525 (15,525) (533%) 1,308,900 1,728,300 720,125 826,771 (106,646) (14.81%) (6) 673,626 153,145 22.73% 189,300 189,300 78,875 51,036 27,839 35.30% (6) 52,283 (1,247) (2.39%) 546,400 547,200 228,000 184,225 43,775 19.20% (6) 144,831 39,394 27.200/. 356,800 367,100 152,958 96,564 56,395 36.87% (6) 127,059 (30,495) (24.00%) 874,700 880,900 367,042 793,369 (426,328) (116.15%) (6) 779,403 13,966 1.79% 1,135,200 1,125,200 468,833 379,584 89,249 19.04% (6) 399,693 (20,109) (5.03%) 1,000,800 1,002,000 417,500 327,111 90,389 21.65% (7) 403,218 (76,107) (18.87%) 906,500 950,400 396,000 203,472 192,528 48.62% (6) 383,531 (180,059) (46.95%) 74,300 93,300 38,875 11,470 27,405 70.50% (6) 15,820 (4,350) (27.50%) 857,200 952,500 396,875 270,354 126,521 31.88% (6) 300,028 (29,674) (9.899/.) 1,223,700 1,235,700 514,875 387,082 127,793 24.82% (6) 392,347 (5,265) (1.34%) 10,373,100 10,378,000 4,324,167 4,154,924 169,243 3.91% 4,160,622 (5,698) (0.14%) 2,553,600 2,573,500 1,072,292 1,014,557 57,735 5.38% 1,004,076 10,481 1.04% Page i of 3 Page 2 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 5 Year Revised Budget Actual vs Original Revised to Date Year vs Year Current Year Annual Annual Revised to Date Actual Percentage to Date Actual Percentage Budget Budget Budget Actual Variance Variance Actual Variance Variance GENERAL FUND (continued) EXPENDITURES (continued) Emmneerine Administrative 765,500 765,500 318,958 258,562 60,396 18.94% (6) 353,232 (94,670) (26.80°%) Engineering Services 1,076,300 1,076,300 448,458 308,996 139,462 31.10% (6) 320,744 (11,748) (3.66%) Finance Administrative 2,089,800 2,091,900 871,625 775,859 95,766 10.99% (6) 711,187 64,672 9.09% Non -Departmental 92,300 94,300 39,292 18,516 20,776 52.88% (6) 85,838 (67,322) (78.43%) Development Program 1,708,400 1,708,400 711,833 923,847 (212,014) (29.78°%) (6) 1,080,164 (156,317) (14.47%) Public Facilities and Onerahons Administrative 789,600 792,100 330,042 259,182 70,860 21.47% (6) 291,030 (31,848) (10.94%) Facility and Equipment Maintenance 1,236,400 1,236,400 515,167 453,410 61,757 11.99% (6) 401,072 52,338 13.05% Other Maintenance 909,600 934,000 389,167 341,704 47,463 12.20% (6) 349,390 (7,686) (2.20%) Interflmd Transfers Capital Improvement Projects 3,859,300 1,853,700 772,375 79,122 693,253 89.76% (6) 8,369,641 (8,290,519) (99.05%) Operation Transfers 486.200 486,200 202,583 202,779 (196) (0.10%) 91.250 111,529 122.22% Total expenditures 35,834,800 34,491,500 14,371,458 12,855,569 1,515,890 10.55% 21,363,766 (8,508,197) (39.83%) Net revenues oved(under) expenditures (3,525,22�2.059,80p) (858,250) (4,886,624) _(L28,374) _ (469.37%) (14,959,381) 10,072,757 67.33% WATER FUND REVENUES Water sales 17,852,000 17,852,000 7,438,333 7,428,684 (9,649) (0.13%) 7,280,526 148,158 2.03% Other revenue 773,600 773,600 322,333 238.764 (83,570) (25.93%) (4) 575,188 (336,424) (58.49%) Total revenues 18,625,600 18,625,600 7,760,667 7,667,448 (93,219) (1.20%) 7,855,714 (188,266) (2.40°%) EXPENDITURFS Water costs 8,630,100 8,630,100 3,595,875 4,160,878 (565,003) (15.71%) (7) 3,815,739 345,139 9.05% Power costs 926,200 926,200 385,917 337,434 48,482 12.56% (7) 429,259 (91,825) (21.39°%) Interfund Transfers 2,268,500 2236,600 931,917 31,813 900,104 96.59% (5) 509,556 (477,743) (93.76%) Other costs 13,783,300 13,959,600 5,816,500 2,150,037 3,666,463 63.04% (8) 2,411,671 (261,634) (10.85%) Total expenditures 25,608,100 25,752,500 10,730108 600,162 4,050,046 37.740/. 7,166,225 (486_063) (6.78%) Net profit (loss) (6,982,500) (7,126,900) (2,969342) 987,286 3,956,827 133.25% 689,488 297,797 43.19% SEWER FUND Revenues 6,169,900 6,169,900 2,570,792 2,144,868 (425,923) (16.57%) (9) 3,838,522 (1,693,654) (44.12%) Expenditures 6,379,800 6.395,300 2,664,708 1,311,683 1,353.02550.79% (8) 1,482,610 (170,927) (11.53%) Net profit (loss) (209,900) (225,400) (93,917) 833,185 927,102 987.15% 2,355,912 (1,522,727) (64.630/.) SOLID WASTE FUND Revenues 3,996,900 3,996,900 1,665,375 1,480,496 (184,879) (11.10%) (10) 1,468,407 12,089 0.82°Ao Expenditures 3,996,900 3,996,900 1,665,375 795,625 869,750 52.23%(10) 791,007 4,618 0.58% Net revenues and expenditures - - - 684,871 684,871 NIA 677,400 71471 1.10% Page 2 of 3 Page 3 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 5 Year Revised Budget Actual vs Ongmal Revised to Date Year vs Year Current Year Annual Annual Revised to Date Actual Percentage to Date Actual Percentage Budget Budget Budget Actual Variance Variance Actual Variance Variance DEVELOPMENT FUNDS (12) Revenues 2,334,600 2,334,600 972,750 542,186 (430,564) (44.26%) (11) 1,110,I06 (567,920) (51.16%) Expenditures 9,708,500 9,524,200 31968,417 845,009 3,123,407 78.71%(II) 1,014,928 (169,919) (16.74%) Net revenues and expenditures (7,373,900) (7,189,600) (2,995,667) (302,8 2,692,844 89.89% 95,178 (398,001) -CONSTRUCTION FUNDS Revenues 31,818,500 33,192,300 13,830,125 4,843,323 (8,986,802) (64.98%) (4) 18,188,756 (13,345,433) (73.37%) Expenditures 32,633,900 34:007,700 14,169,875 1,908,822 12,261,053 86.53% (4) 18,2I2,412 (16,303,590) (89.52%) Net revenues and expenditures (815,400) (815,400) (339,750) 2,934,501 3,274,251 (963.72%) (23,656) 2,958,157 12504.89% LANDSCAPE AND LIGHTING DISTRICT FUNDS Revenues 9,025,400 9,025,400 3,760,583 1,888,356 (1,872,227) (49.79%) (1) 1,327,593 560,763 42.24% Expenditures 10,989,400 11,462,500 4,776,042 4,3451588 430,453 9.01% 3,533,627 811:961 22.98% Net revenues and expenditure (1,964,000) (2,437,100) (1,015,458) (2,457,233) (1,441,774) (141.98%) (2,206,034) (251,199) (1139°/) ASSESSMENT DISTRICT FUNDS Revenues 1,150,200 1,150,200 479,250 12,570 (466,680) (97.38%) (1) 403,443 (390,873) (96.88%) Expenditures 1,118.300 1,118,300 465,958 879,614 (413,655) (88.78%) (5) 1,064,224 (184,610) (17.35%) Net revenues and expenditures 3LkO 3L900 13,292 (867,044)8( 80,336) N/A (660,781) (206,263) (31.22%) COMMUNITY FACILITIES DISTRICTS FUNDS Revenues 11,366,100 11,366,100 4,735,875 108,886 (4,626,989) (97.70%) (I) 1,257,658 (1,148,772) (91.34%) Expenditures 11,575,400 11,553,000 4,813,750 61002,568 (1,188,818) (24.70%) (5) 16,582,157 (10,579,589) (63.80%) Net revenues and expenditures (209,300) (186,900) (77,875) .....(5,893,681) (5,815,806) N/A (15,324,499) 9430,818 61.54% MISCELLANEOUS FUNDS (13) Revenues 13,850,000 17,358,400 7,232,667 1,712,693 (5,519,974) (76.32%) (14) 2,132,175 (419,482) (19.67%) Expenditures 16,771,900 20,789,200 8,662,167 3,864,767 4,797,399 55.38% (6) 2,889,466 975,301 33.75% Net revenues and expenditures (2,921,900) (3,430,800) (1,429,500) (2,152,074) (722,574)(50.55%) (757,291) (1,394,783) (184.18%) Page 3 of 3 FOOTNOTES: 1. Due to the cyclical nature of the collection of property and special assessments taxes, less are received at the beginning of the fiscal year; there is an increase from December through April when the two property tax installments become due. 2. Motor vehicle in -lieu fees, sales tax, business license tax, property transfer tax, and fines and forfeitures are collected at different intervals throughout the fiscal year. 3. Investment interest is allocated and recorded after the end of each calendar quarter, and the franchise fees are recorded on an annual basis. 4. These accounts include a variety of cost reimbursements from different sources; also, miscellaneous revenues such as donations which vary greatly from year to year. 5. The principal reason for this variance is that interfund transfers are generally made quarterly, semi-annually, or annually depending on the purpose of the transfer; and debt services for the Assessment Districts and Community Facilities Districts Bonds are usually paid semi-annually. 6. Selective budgeted expenditures are either one-time expenditures or cyclical in nature and are not expended evenly throughout the fiscal year. Examples include the audit and data processing costs (Finance), insurance premiums (Risk Management), etc. 7. This variance is due to the timing difference between vendors presenting invoices for services rendered and the City sending out payments. 8. The depreciation and amortization expenses are recorded on an annual basis. 9. This variance is caused by the timing when the utility billings were sent out and the actual revenues collected for the period. 10. The City collects the solid waste fees on behalf of the contractor. It appears that the variance is caused by the lag time between when the City collects the fees and when it pays the contractor. 11. The principal reason for this variance is that the collection of the facilities development fees is cyclical in nature and depends on when the developers obtain permits for construction. 12. Consists of the following: Park & Rec Facilities Fee, Quimby in Lieu, Traffic Signal Fee, Existing Infrastructure, General City Facilities, Traffic Facilities Fee, Storm Drain Facilities, Sewer Facilities Fee, Water Facilities Fee Funds. 13. Consists of the following: Special Gas Tax, Air Quality Project, Measure I Trans Sales Tax, Citizens Opm Public Safety, Local Law Enforcement Block Grant, CDBG Entitlement, Street Sweeping, Sleepy Hollow Road Improv, Misc. Grant, Equipment Maintenance, Data Processing, Tres Hermanos Authority, CH Foundation and Federal Emerg Mgmt Agency. 14. The principle reason for this variance is due to the timing when the City is eligible to draw down various Federal Grants related to several capital improvement projects. Page 1 of 1