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03-09-2010 CC Rpt A05 COUNCIL AGENDA STAFF REPORT CITY CLE$FU EDNLY�D Meeting Date: March 9. 2010 201D -5-- -r'#5/All� AP9 909 '' Public Hearing: ❑ OFFICE OF CITY CLERK ..,....: Discussion Item: ❑ CH1P:0 HILLS Consent Item: q' MARCH 2, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for January 2010. BACKGROUND/ANALYSIS: The Financial Report for January 2010 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. / 6 AGENDA DATE: MARCH 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, YL/-- I --e---lf, . "------- 4A / et ' t 1 /, Michael S. Fleager, ity Mer Jul ) La? asfer, Finance Director MSF:JRL:PS:gm Attachment City of Chino Rills Revenues,Expenditures,and Transfers Budget and Actual Comparative Analysis for the Month Ending January 31,2010 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 7 Year Revised Budget Actual vs Ongmai Revised to Date Year vs Year Cu:e.0 Year Annual Annual Revised to Date Actual Percentage to Date Actual Percentage Budget Budget Budget Actual Variance Variance Actual Variance Variance GENBRn1 FUND • S Property taxes 3,770,300 3,770,300 2,199,342 2,049,777 (149,565) (6.80%) 2,130,357 (80,580) (3.78%) Property taxes-Tnple Flip 1,445,600 1,491,700 870,158 827,572 (42,586) (4.89%) 650,454 177,118 N/A Property taxes-VLF Swap 6,394,800 6,394,800 3,730200 - (3,730,300) (100.00°%) (l) - - N/A Sales taxes 4,336,800 4,336,800 2,529,800 1,922,523 (607,277) (24.00%) (2) 1,905,492 17,031 0.89% Other taxes 1,127,900 1.127,900 657,942 401,057 (256,884) (39.04%) (2) 375,605 25,452 6.78% Total taxes 17,075,400 17,121,500 9.987,542 5,200,929 (4,786,612) (47.93%) 5,061,908 139,021 2.75% Motor vehicle in-lieu fees 190,000 190,000 110,833 52,831 (58,002) (52.33%) (2) 122,323 (69,492) (56.81%) Fines and Penalties 680,600 680,600 397,017 329,936 (67,081.) (16.90%) (2) 332,690 (2,754) (0.83%) Interest income and franchise fees 3,250,000 3,250,000 1,895,833 899,486 (996,347) (52.55%) (3) 1,479,565 (580,079) (39.21%) Community Development fees 2,401,900 2,401,900 1,401,108 1,139,681 (261,427) (18.66%) (4) 1,396,482 (256,801) (18.39%) Cost reimbursements 342,300 343,300 200,258 1,051,285 851,027 424.96% (5) 647,445 403,840 62.37% Other revenues 5,602,900 5,677,900 3,312,108 3,594,735 282,627 8.53% 3,174,231 420,504 13.25% Operating transfers 2,766,500 2,776,100 1.619,392 1238,662 (380,730) (23.51%) (6) - 1,238,662 N/A Total revenues 32,309,600 32,441,300 18,924,092 13,507,546 (5,416,546) (28.62%) 12.214,644 1292,902 10.58% EXPENDITURES Legislative City Council 266,100 266,100 155,225 131,331 23,894 15.39% (7) 141,460 (10,129) (7.16%) City Attorney 350,000 358,400 209,067 253,126 (44,059) (21.07%) (8) 138,492 114,634 82.77% City Clerk 804,800 804,800 469,467 424,031 45,436 9.68% 434,797 (10,766) (2.48%) City Manager Administration 1,308,900 1,728,300 1,008,175 1,236,027 (227,852) (22.60%) (7) 902,803 333,224 36.91% Contract Services 189,300 189,300 110,425 96,212 14,213 12.87/ (7) 76,167 20,045 26.32% Community Relations 546,400 547,200 319,200 267,341 51,859 16.25% (7) 221,021 46,320 20.96% Human Resources 356,800 367,100 214,142 162,592 51,550 24.07% (7) 185,135 (22,543) (12.18%) Risk Management 874,700 880,900 513,858 840,129 (326,271) (63.49%) (7) 829,155 10,974 1.32% Community Develooment Administration 1,135,200 1,125,200 656,367 550,159 106,208 16.18% (7) 591,806 (41,647) (7.04%) Building Services 1,000,800 1,002,000 584,500 514,558 69,942 11.97% (8) 583,399 (68,841) (11.80%) Development Services 906,500 950,400 554,400 313,466 240,934 43.46% (7) 587,521 (274,055) (46.65%) Economic Development 74,300 93,300 54,425 15,296 39,129 71.89% (7) 16,860 (1,564) (9.27%) Community Services_ Administrative 857,200 962,100 561775 490,876 70,349 12.53% (7) 429,106 61,770 14.39% Neighborhood Services and Code Enforcement 1,223,700 1,235,700 720,825 610,822 110,003 15.26% (7) 620,585 (9,763) (1.57%) Public Safety 10,373,100 10,378,000 0,053,833 5,794.119 259,714 4.29% 5,948,300 (154,181) (2.59%) Recreation Services 2,553,600 2,573,500 1,501,208 1,415,226 85,982 5.73% 1,465,762 (50,536) (3.45%) Page 1 of a CURRENT YEAR PRIOR YEAR Year to Date Prior Ycar Month: 7 Year Revised Budget Actual vs Onginal 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 GF,NERAI,FUND fcnntinuedl EXPENDITURES(continued) En ineer g Administrative 765,500 765,500 446,542 396,953 49,588 11.10% (7) 537,595 (140,642) (26.16%) Engineering Services 1,076.300 1,076,300 627,842 495,297 132,545 21.11% (7) 512,572 (17,275) (3.37%) Finance Administrative 2,089,800 2,091,900 1,220,275 1,165,827 54,448 4.46% 1,073,307 92,520 8.62% Non-Departmental 92,300 94,300 55,008 27,585 27,424 49.85% (7) 134,879 (107,294) (79.55%) Development Program 1,708,400 1,708,400 996,567 942,707 53,859 5.40% 1,127,009 (184,302) (16.35%) Public Facilities and Onerations_ Administrative 789,600 792,100 462,058 406,690 55,368 11.98% (7) 471,898 (65,208) (13.82%) Facility and Equipment Maintenance 1,23E 400 1,236,400 721,233 649,005 72,228 10.01% (7) 607,136 41,869 6.90°% Other Maintenance 909,600 934,000 544,833 475,207 69,627 12.78% (7) 482,097 (6,890) (1.43%) Interfund Transfers Capital Improvement Projects 3,859,300 1,847,800 1,077,883 178,701 899,182 83.42% (7) 11,530,036 (11,351,335) (98.45%) Operation Transfers 486.200 486,200 283.617 247.262 36,354 12 82% (6) 127,750 119,512 93.55% Total expenditures 35,834,800 34,495,200 20,122,200 18,100,547 2,021,653 10.05% 29,776,648 (11,676,101) (39.21%) Net revenues over/(under) expenditures _ (3,525,200) (2,053,900) (1,198,108) x,593,001) (31394,893) (283.35%) (17,562,004) 12,969,003 73.85% W, REVENUES Water sales 17,852,000 17,852,000 10,413,667 9,957,102 (456,565) (4.38%) 9,564,735 392,367 4.10% Other revenue 773,600 773,600 451,267 351.147 (100,120) (22.19%) (5) 737,276 (386.129) (52.37%) Total revenues 18,625,600 18,625,600 10,864,933 10,308,249 (556,684) (5.12%) 10,302,011 6,238 0.06% EXPENDITURES Water costs 8,630,100 8,630,100 5,034,225 6,352,418 (1,318,193) (26.18%) (8) 6,107,971 244,447 4.00% Power costs 926,200 926,200 540,283 425,146 115,137 21.31% (8) 561,878 (136,732) (24.33%) Interfund Transfers 2,268,500 2,156,100 1,257,725 34,011 1,223,714 97.30% (6) 549,898 (515,887) (93.82%) Other costs 13,783,300 14,059,600 8,201,433 3,698,670 4,502,764 54.90% (9) 3,969,972 (271,3021 (6.83%) Total expenditures 25,608,100 25,772,000 15,033,667 10,510,244 4,523,422 30.09% 11,189,719 (679,475) (6.07%) Net profit(loss) _ (6,982,500) (7,146,400) (4,168,733) (201,995) 3,966,738 95.15% (887,709) 685,713 (77.25%) SEWER FUND Revenues 6,169,900 6,169,900 3,599,108 3,100,634 (498,474) (13.85%)(10) 4,778,427 (1,677,793) (35.11%) Expenditures 6,379,800 6,445,300 3,759,758 2,111,992 1,647,766 43.83% (9) 2,237,992 (126,0001 (5.63%) Net profit(loss) (209,900) (275,400) (160,650) 988,642- 1,149,292 715.40% 2,540,435 (1,551,793) (61.08%) SOLID WASTE FUND Revenues 3,996,900 3,996,900 2,331,525 2,150,846 (180,679) (7.75%) 2,118,696 32,150 1.52% Expenditures 3,996.900 3,996,900 2.331,525 1,424,794 906,731 38.89% (Il) 1,450,929 (26,135) (1.80%) Net revenues and expenditures - - - 726,052 726,052 N/A 667,767 _ 58,285 8.73% Pape 2 of 3 CURRENT YEAR PRIOR YEAR Year to Date Pnor Year Month: 7 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 Vanance Actual Variance Variance DEVELOPMENT FUNDS(131 Revenues 2,334,600 2,334,600 1,361,850 627,358 (734,492) (53.93%)(12) 1,266,746 (639,388) (50.47%) Expenditures 9,708,500 9,524.200 5,555,783 937,608 4,618,175 83.12%(12) 1,276,007 (338.399) (26.52%) Net revenues and expenditures (7,373,900) (7,189,600) (4,193,933) (310,250) 3,883,683 92.60% (9,261) Q00.98� 3250.08% CONSTRI ICTION FUNDS Revenues 31,818,500 33,042,200 19,274,617 6,060,183 (13,214,434) (68.56%) (6) 22,102,683 (16,042,500) (72.58%) Expenditures 32,633,900 33,857,600 19,750,267 3,241,968 16,508,299 83.59% (6) 22,028,876 118,786,908) (85.28%) Net revenues and expenditures (815,400) _ (815,400) (475.6501 2,818215_ 3,293,865 692.50% 73.807 2,744,408 (3718.36%) LANDSCAPE AND LIGHTING D)STRICT FUNDS Revenues 9,025,400 9,025,400 5,264,817 5,211,601 (53,215) (1.01%) 4,573,599 638,002 13.95% Expenditures 10,989,400 11,392,700 6,645,742 5,932,895 712,846 10.73% (7) 4,992,398 940,497 18.84% Net revenues and expenditure (1,964,000) 12,367,300) (1,380.925) (721,294) 659,631 47.77% (418,799) (302,495) (72.23%) ASSESSMENT DISTRICT FUNDS Revenues 1,150,200 1,150,200 670,950 680,803 9,853 1.47% 948,466 (267,663) (28.22%) Expenditures 1,118,300 1,118,300 652342 896,812 1244,470) (37.48%) (6) 1,077,126 (180,314) (16.74%) Net revenues and expenditures 31,900 31,900 18,608 (216.009) (234,617) N/A 5128,660) (87,349) (67.89%) COMMUNITY FACLLrrm.S DISTRICTS FUNDS Revenues 11,366,100 11,366,100 6,630,225 6,054,803 (575,422) (8.68%) 6,785,332 (730,529) (10.77%) Expenditures 11,575.400 11,553,000 6,739,250 6,409,757 329,493 4.89% 17,245,441 (10,835,684) (62.83%) Net revenues and expenditures (209,300) (186,9001_ 1109,025) 354,954) (245,929) (225.57%) (10,460,109) 10,105,155 96.61% MISCELLANEOUS FUNDS(14) Revenues 13,850,000 17,368,000 10,131,333 2,694,525 (7,436,809) (73.40%) (15) 4.822,043 (2,127,518) (44,12%) Expenditures 16,771,900 20,804,900 12,136,192 5,604,365 6,531,826 53.82% (7) 3,909,551 1.694.814 43.35% Net revenues and expenditures (2,921,900) (3,436,900) (2,004,858) (2,909,841) (904,982) (45.14%) 912,492 (3,822,333) 418.89% Page 3 of 3 received at the beginning of the fiscal Year: entstaxes,less are a due. special assessor taxes, s are r a different fiscal year, Two property tax festa ants collected at property and P forfeitures are FOOTNOTES Is a collection°f P ril when the and fines and re of the r tax, fecprded on an annual basis cyclical f December through AP property transfer 1. Due to the cY from license tax,P err,and the franchise fees are There is an increase tax,business fees,sales calendar quart which vary l year, after the end of each nature. donations Motor vehicle in-lieufisca Y cyclical in na es such as ervals 2. throughout the and recorded afl are cY thonginspection fees us revenues allocated peand engineering insP also, tune. laneo on the t interest is different sources: en Y 3, Investoren ds froth annually d r r1 depending f both building permits reimbursements i annually,°r usually paid semi-annually. nua The colVection o cost reimburs quarterly,semDisiricts B0 r year. 4. variety of cO erally made q, F rly,ses n y g ds Include a are gait CommundY nl throw hon tthe fiscal s 5 These accounear to year. transfers ended ev P Y Erom Y Is that interfund meet Districts and are not exp ant),et° greatly for leis variance . s for the Assess nature aR da a not exrr` g u enditures or cyclical if minors e Gity sendin ° 1 amen s. rinciPal reason debt service a exp_ insurance P s rendered and th 6.The a the transfer;and either one-time (Finance), for services expendituresarei rence resenting invoices budgeted e%audit and data processingdors P e the between van lot the Period. 7' Selective include rence betty basis. collected when the the timing se an annual is due to expenses are recorded on and the actual revenues the lag tore between B.This variance s were sent out caused by icon and ed by the ti exp billing when the when the utility ears that the variance is g•Thee City co It app ddefend on s used by the timing the contractor. nature an Is°a behalf of is cyclical in 10. This variance tractor. development fees Facilities, the solid waste fees on he con General dCity epends colleheefees and when it pay of the facilities de cture 11.The City collec4°rr Infrastructure, nfrastru Law City collects is that the E n s variance Traffic Signal Fee Xiain9 al reason for thisLien, Fu n • 12. open permits for construction. Fee Quimby.rl Water Facilities Fee p to public Safety,Local developers obtain pe Facilities Sewer Facilities Fee, s SalesTax, Citizens Pt Equipment Maintenance, arntena &nFaFa rov,Misc.Grac capital Project, Measure 1 Tran M to several Consists of the following: lock G an, Drain Facilities,Sew poi Sweeping,Sleepy HolloewRoad t Agency' Grants related ciltties Special Gas Tax, Au QualityweeP Federal Em M9 us Federal 13. Traffic Fa ant,Street 5 d Fede down various f the following' CDBG Enut ori Foundation an eligible to draw 14. .The o Grant, Authority,GH when the City is elig t Block res Hermanos A' timing Enforproceessin9, is due to the Data variance 15.The principle ent projects. this s improve Page 1 of 1