Loading...
02-09-2010 CC Rpt A05 COUNCIL AGENDA STAFF REPORT CITY CLEI s pFIV E 4. Meeting Date: February 9. 2010 2010 FEB - I AM 9: 45 Public Hearing: ❑ 1 + OFFICE OF CITY CLERK Discussion Item' ❑ CHINO HILLS .. , Consent Item: FEBRUARY 2, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL. MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for December 2009. BACKGROUND/ANALYSIS: The Financial Report for December 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 for the 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. AGENDA DATE: FEBRUARY 9, 2010 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, Recommended by, :1 Michael Michael S. Fleager, CitylClanagr— Ju /R Ledster, Finance Director MSF:JRL:PS:gm Attachment City of Chino Hills Revenues,Expenditures,and Transfers Budget and Actual Comparative Analysis for the Month Ending December 30,2009 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 6 Year Revised Budget Actual vs Original Revised ro 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 REVENUES Property taxes 3,770,300 3,770,300 1,885,150 773,484 (1,111,066) (58.97%) (1) 1,870,233 (1,096,749) (58.64%) Property taxes-Triple Flip 1,445,600 1,491,700 745,850 - (745,850) (100.00%) (1) - - N/A Property taxes-VLF Swap 6,394,800 6,394,800 3,197,400 - (3,197,400) (100.00%) (1) - - N/A Sales taxes 4,336,800 4,336,800 2,168,400 1,605,423 (562,977) (25.96%) (2) 1,610,492 (5,069) (0.31%) Other taxes 1,127,900 1,127,900 563,950 360,883 (203,067) (36.01%) (2) 316,813 44,070 13.91% Total taxes 17,075,400 17,121,500 8,560,750 2,739,791 (5,820,959) (68.00%) 3,797,538 (1,057,747) (27.85%) Motor vehicle in-lieu fees 190,000 190,000 95,000 52,831 (42,169) (44.39%) (2) 99,144 (46,313) (46.71%) Fines and Penalties 680,600 680,600 340,300 283,410 (56,890) (16.72%) (2) 270,858 12,552 4.63% Interest income and franchise fees 3,250,000 3,250,000 1,625,000 663,120 (961,880) (59.19%) (3) 1,282,044 (618,924) (48.28%) Community Development fees 2,401,900 2,401,900 1,200.950 1,015,036 (185,914) (15.48%) (4) 1,276,318 (261,282) (20.47%) Cost reimbursements 342,300 343,300 171,650 1,038,414 866,764 504.96% (5) 179,363 859,051 478.95% Other revenues 5,602,900 5,677,900 2,838,950 3,009,077 170,127 5.99% 2,749,024 260,053 9.46% Operating transfers 2,766,500 2,766,500 1,383,250 1,238,662 (144,588) (10.45%) (6) - 1,238,662 N/A Total revenues 32,309,600 32,431,700 16,215,850 10,040,341 (6,175,509) (38.08%) 9,654,289 386.052 4.00% EXPENDITURES Legislative City Council 266,100 266,100 133,050 96,375 36,675 27.56% (7) 104,838 (8,463) (8.07%) City Attorney 350,000 358,400 179,200 211,010 (31,810) (17.75%) (8) 122,750 88,260 71.90% City Clerk 804,800 804,800 402,400 364,354 38,046 9.45% 373,340 (8,986) (2.41%) Cip !onager Administration 1,308,900 1,728,300 864,150 1,130,258 (266,108) (30.79%) (7) 846,420 283,838 33.53% Contract Services 189,300 189,300 94,650 51,036 43,614 46.08% (7) 52,283 (1,247) (2.39%) Community Relations 546,400 547,200 273,600 232,970 40,630 14.85% (7) 190,394 42,576 22.36% Human Resources 356,800 367,100 183,550 136,862 46,688 25.44% (7) 158,309 (21,447) (13.55%) Risk Management 874,700 880,900 440,450 824,586 (384,136) (87.21%) (7) 805,700 18,886 2.34% Community Development Administration 1,135,200 1,125,200 562,600 478,875 83,725 14.88% (7) 504,108 (25,233) (5.01%) Building Services 1,000,800 1,002,000 501,000 443,779 57,221 11.42% (8) 504,516 (60,737) (12.04%) Development Services 906,500 950,400 475,200 274,149 201,051 42.31% (7) 518,416 (244,267) (47.12%) Economic Development 74,300 93,300 46,650 13,361 33,289 71.36% (7) 16,800 (3,439) (20.47%) Community Services Administrative 857,200 952,500 476,250 433,703 42,547 8.93% 371,046 62,657 16.89% Neighborhood Services and Code Enforcement 1,223,700 1,235,700 617,850 501,745 116,105 18.79% (7) 510,454 (8,709) (1.71%) Public Safety 10,373,100 10,378,000 5,189,000 4,953,154 235,846 4.55% 5,852,933 (899,779) (15.37%) Recreation Services 2.553,600 2,573,500 1,286,750 1,230,552 56,198 437% 1,270,597 (40,045) (3.15%) Page 1 et 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 6 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) EXPENDITIJR S(continued) Engineering Administrative 765,500 765,500 382,750 342,765 39,985 10.45% (7) 469,558 (126,793) (27.00%) Engineering Services 1,076,300 1,076,300 538,150 425,968 112,182 20.85% (7) 413,930 12,038 2.91% Finance Administrative 2,089,800 2,091,900 1,045,950 1,009,876 36,074 3.45% 905,521 104,355 11.52% Non-Departmental 92,300 94,300 47,150 22,341 24,809 52.62% (7) 125,133 (102,792) (8215%) Development Program 1,708,400 1,708,400 854,200 933,875 (79,675) (9.33%) 1,105,707 (171,832) (15.54%) Public Facilities and Onerations Administrative 789,600 792,100 396,050 350,229 45,821 11.57% (7) 370,392 (20,163) (5.44%) Facility and Equipment Maintenance 1,236,400 1.236,400 618,200 573,167 45,033 7.28% 501,659 71,508 14.25% Other Maintenance 909,600 934.000 467,000 415,493 51,507 11.03% (7) 440,320 (24,827) (5.64%) Lite rid T. ers Capital Improvement Projects 3,859,300 1,853,700 926,850 115,457 811,393 87.54% (7) 10,681,601 (10,566,144) (98.92%) Operation Transfers 486,200 486,200 243,100 225.021 18.079 7.44% 109,500 115,521 105.50% Total expenditures 35,834,800 34,491,500 17,245.750 15,790,961 1,454,789 8.44% 27,326,225 (11,535264) (42.21%) Net revenues over/(under) expenditures (3,525,200) (2,059,800_ (1,029,900) (5,750,619) 4,720,719) (458.37%) (17,671,936) 11,921,317 67.46% WATER EUND P Water sales 17,852,000 17,852,000 8,926,000 8,880,985 (45,015) (0.50%) 8,359,354 521,631 6.24% Other revenue 773,600 773,600 386.800 286,183 (100,617) (26.01%) (5) 649,855 (363,672) (55.96%) Total revenues 18,625,600 18,625,600 9,312,800 9,167.168 (145.632) (1.56%) 9.009,209 157,959 1.75% EXPENDITURES Water costs 8,630,100 8,630,100 4,315,050 5,541,183 (1,226,133) (28.42%) (8) 5.086,587 454,596 8.94% Power costs 926,200 926,200 463,100 385,004 78,096 16.86% (8) 504,161 (119,157) (23.63%) lnter5und Transfers 2,268,500 2,236,600 1,118,300 31,813 1,086,487 97.16% (6) 550,095 (518,282) (94.22%) Other costs 13,783,300 13,959,600 6,979,800 3,277,281 3.702,519 53.05% (9) 3,433,028 (155,747) (4.54%) Total expenditures 25,608,100 25,752,500 12,876.250 9,235,281 3,640,969 28.28% 9,573,871 (338.590) (3.54%) Net profit(loss) (6,982,500) (7,126,900) (3,563,450 (68,113) 3,495,337 98.09% (564,663) 496,549 (87.94%) SEWER FI IND Revenues 6,169,900 6,169,900 3,084,950 2,610,899 (474,051) (15.37%)(10) 4,310,163 (1.699,264) (39.42%) Expenditures 6,379,800 6,395,300 3,197,650 1,744,434 1,453,216 IT 45.45% (9) 1,866,324 (121,890) (6.53%) Net profit(loss) (209,900) t225,400) (112,700) 866,465 979,165 868.82% , 2,443,839 (1,577.374) (64.54%) SOLID WASTE FUND Revenues 3,996,900 3,996,900 1,998,450 1,814,839 (183,612) (9.19%) 1,810,018 4,821 027% Expenditures 3,996,900 3,996,900 1,998,450 1,121,439 877,011 43.88°°%(11) 1,072,895 48,544 4.52% Net revenues and expenditures - - 693,399 693,399 N/A 737,123 (43,724) (5.93%) Page 2 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 6 Year Revised Budget Actual vs Original Revised to Date Year vs Year Current Year Annual Annual Revised to Dare 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 1,167,300 554,306 (612,994) (52.51%)(12) 1,136,353 (582,047) (51.22%) Expenditures 9,708,500 9,524200 4,762,100 881,375 1880,725 81.49% (12) 1,069.070 (187,695) (17.56%) Net revenues and expenditures (75373,900) 7,189,600) (3,594,800) _ _ (327,068) 3,267,732 90.90% 67283 __ (394,3511 586.11%) CONSTRUCTION FINDS Revenues 31,818,500 33,198,400 16,599,200 5,983,320 (10,615,880) (63.95%) (5) 21,021,550 (15,038,230) (71.54%) Expenditures 32,633,900 34,013,800 17,006,900 3,122.175 13,884,725 81.64% (5) 20,983,980 (17.861,805) (85.12%) Net revenues and expenditures (815,400) _ (815,400) (407,700) 2,861,145 3.268,845 801.78% 37,570 2,823,575 (7515.50%) LANDSCAPE AND LIGHTING DISTRICT FUNDS Revenues 9,025,400 9,025,400 4,512,700 2,891,428 (1,621,272) (35.93%) (1) 4,105,902 (1,214,474) (29.58%) Expenditures 10,989,400 11,462,500 5,731,250 5,274,799 456,451 7.96% 4,405,564 869235 19.73% Net revenues and expenditure (1,964,000) (2.437,100) (1.218,550) (2,383,371) (1,164,821) (95.59%) (299,662) (2,083,709) (695.35%) ASSESSMENT DISTRICT FUNDS Revenues 1,150,200 1,150,200 575,100 139,475 (435,625) (75.75%) (1) 834,804 (695,329) (83.29%) Expenditures 1,118,300 1,118,300 559,150 885,225 (326,075) (58.32%) (6) 1,072,259 (187,034) (17.44%) Net revenues and expenditures 31,900 31,900 15,950 (745.749) (761,699) N/A (237,455) _ (508,294) (214.06%) COMMUNITY FACILITIES DISTRICTS FUNDS Revenues 11,366,100 11,366,100 5,683,050 1,571,760 (4,111,290) (72.34%) (I) 6,453,121 (4,881,361) (75.64%) Expenditures 11,575,400 11,553,000 5,776,500 6,092,602 (316,102) (5.47%) 17,163,286 (11,070,684) (64.50%) Net revenues and expenditures (209,300) (186,900) (93,450) _ (4,520,842) (4,427,392) N/A (10.710,165) 6,189323 57.79°/° MISCFLLANFOI TS FUNDS i 13) Revenues 13,850,000 17,358,400 8,679,200 2,128,848 (6,550,352) (75.47%) (15) 3,998,519 (1,869,671) (46.76%) Expenditures 16,771,900 20,795,300 10,397,650 5,166297 5,231,353 50.31% (7) 3,323,904 1,842,393 55.43% Net revenues and expenditures (2,921,900) (3,436,900) (1,718,450) (3,037,4491 (1,318,999) (76.76%) 674,615 (3,712.064) 550.25% Page 3 of 3