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05-11-2010 CC Rpt A05 COUNCIL AGENDA STAFF REPORT CITY CitcPpCM4E ANL? Px\ Meeting Date: May 11. 2010 2019 MAY -3 AM 8: 21 Public Hearing: ❑ r OFFICE OF CITY CLERK ;mom Discussion Item: 0 CHINO HILLS ....-TT= Consent Item: MAY 4, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for March 2010. BACKGROUND/ANALYSIS: The Financial Report for March 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. AGENDA DATE: MAY 11, 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, Michael S. Fleag/ City Manager JuttS/P. igancaster, Finance Director MSF:JRL:PS:gm Attachment City or Chino Hills Revenues,Expenditures,and Iransfers Budget and Actual Comparative Analysis for the Month Ending March 31,2010 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 9 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 Valiance Actual Variance Variance GENE.RA).RIND REVENUES Property taxes 3,770,300 3,770,300 2,827,725 2,193,777 (633,948) (22.42%) (1) 2,560,733 (366,956) (14.33%) Property taxes-Triple Flip 1,445,600 1,491,700 1,118,775 827,572 (291,203) (26.03%) (1) 650,454 177,118 27.23% Property taxes-VLF Swap 6,394,800 6,152,400 4,614,300 3,076,219 (1,538,081) (33.33%) (I) 3,134,718 (58,499) (1,87%) Sales taxes 4,336,800 4,336,800 3,252,600 2,814,011 (438,589) (13.48%) (2) 2,773,534 40,377 1.46% Other taxes 1,127,900 1,127,900 845,925 576,131 (269,794) (31.89%) (2) 494,323 81,808 16.55% Total taxes 17,075,400 16,879,100 12,659,325 9,487,710 (3,171,615) (25.05%) 9,613,862 (126,152) (1.31%) Motor vehicle in-lieu fees 190,000 190,000 142,500 86,404 (56,096) (39.37%) (2) 145,411 (59,007) (40.58%) Fines and Penalties 680,600 680,600 510,450 429,279 (81,171) (15.90%) (2) 432,232 (2,953) (0.68%) Interest income and franchise fees 3,250,000 3,153,300 2,364,975 1,269,910 (1,095,065) (46.30%) (3) 1,939,050 (669,140) (34.51%) Community Development fees 2,401,900 2,401,900 1,801,425 1,501,607 (299,818) (16.64%) (4) 1,747,270 (245,663) (14.06%) Cost reimbursements 342,300 343,300 257,475 1,123,183 865,708 336.23% (5) 717,445 405,738 56.55% Other revenues 5,602,900 6,677,900 5,008,425 4,540,450 (467,975) (9.34%) 3,821,364 719,086 18.82% Operating transfers 2,766,500 2,487,600 1,865,700 1,238,662 (627,038) (33.61%) (6) 32,237 1,206.425 N/A Total revenues 32,309,600 32,813.700 24,610,275 19,677.207 (4,933,068) (20.04%) 18 448,871 1,228,336 6.66% o 4'EM1Dfl - _ Lepislative City Council 266,100 266,100 199,575 166,284 33,291 16,68% (7) 187,706 (21,422) (11.41%) City Attorney 350,000 358,400 268,800 334,091 (65,291) (24.29%) (8) 211,891 122,200 57.67% City Clerk 804,800 804,800 603,600 546,330 57,270 9.49% 553,708 (7,378) (1.33%) C_ityManager Administration 1,308,900 1,918,300 1,438,725 1,492,025 (53,300) (3.7000% 1,158,889 333,136 28.75% Contract Services 189,300 189,300 141,975 121,612 20,363 14 34% (7) 98,807 22,805 23.08% Community Relations 546,400 547,200 410,400 336,313 74,087 18.05% (7) 290,557 45,756 15.75% Human Resources 356,800 367,100 275,325 206,963 68,362 24.83% (7) 224,367 (17,404) (7.76%) Risk Management 874.700 880,900 660,675 881,502 (220,827) (33.42%) (7) 864,988 16,514 1.91% Community Development Administration 1,135,200 1,107,900 830,925 696,458 134,467 16.18% (7) 772,036 (75,578) (9.79%) Building Services 1,000,800 937,000 702,750 658,070 44,680 6.36% 737,101 (79,031) (10.72%) Development Services 906,500 972200 729,150 420,208 308,942 42.37% (7) 731,965 (311,757) (42.59%) Economic Development 74,300 93,300 69,975 24,259 45,716 65.33% (7) 41,706 (17,447) (41.83%) Community Services Administrative 857,200 962,100 721,575 639,318 82,257 11.40% (7) 589,228 50,090 1.50% Neighborhood Services and Code Enforcement 1,223,700 1,235,700 926,775 783,499 143,276 15.46% (7) 776,022 7,477 0.96% Public Safety 10,373,100 10,378,000 7,783,500 7,500,816 282,684 3.63% 7,625,942 (125,126) (1.64%) Recreation Services 2,553,600 2,573,500 1,930,125 1,761,230 168,895 8.75% 1,834,232 (73,002) (3.98%) Page 1 of CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 9 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) Engineering Administrative 765,500 765,500 574,125 508,459 65,666 1 L44% (7) 653,573 (145,114) (2220%) Engineering Services 1,076,300 1,076,300 807,225 636,982 170,243 21.09% (7) 655,571 (18,589) (2.84%) Finance Administrative 2,089,800 2,091,900 1,568,925 1,471,549 97,376 6.21% 1,400,360 71,189 5.08% Non-Departmental 92,300 94,300 70,725 36,452 34,273 4846% (7) 169,931 (133,479) (78.55%) Development Program 1,708,400 1,708,400 1,281,300 1,506,360 (225,060) (17.56%) (7) 1,715,988 (209,628) (12.22%) Public Facilities and Oneratinns Administrative 789,600 792,100 594,075 532,492 61,583 10.37% (7) 594,781 (62,289) (10.47%) Facility and Equipment Maintenance 1,236,400 1,236,400 927,300 825,165 102,135 11.01°% (7) 817,486 7,679 0.94% Other Maintenance 909,600 934,000 700,500 603,234 97,266 13.89% (7) 641,013 (37,779) (5.89%) Interfund Transfers Capital Improvement Projects 3,859,300 2,668,200 2,001,150 262,785 1,738,365 86.87% (7) 16,784,959 (16,522,174) (98.43%) Operation Transfers 486,200 486,200 364,650 291.746 72,904 19.99% (6) 164,250 127,496 77.62% Total expenditures 35,834,800 35,445,100 26,583,825 23,244,202 3,339,623 12.56% 40,297,057 (17,052,855) (42.32%) Net revenues over/(under) expenditures (3,525,200) (2,631,400) (1,973,550) (3,566,996) (1,593,446) (80.74° ) (21,848,186) 18,28 1,190 83.67% WATER FUND REVENUES Water sales 17,852,000 17,852,000 13,389,000 11,927,515 (1,461,485) (10.92%)(10) 11,598,483 329,032 2.84% Other revenue 773,600 725,800 544,350 (1,254,543) (1.798,893) (330.47%) (5) 4,107.260 15.361,803) (130.54%) Total revenues 18,625,600 18,577,800 13,933,350 10,672,972 (3,260,378) (23.40%) 15,705,743 (5,032,771) (32.04%) EXPENDITURES Water costs 8,630,100 8,630,100 6,472,575 6,611,467 (138,892) (2.15%) 5,972,688 638,779 10.70% Power costs 926,200 926,200 694,650 505,457 189,193 27,24% (8) 693,204 (187,747) (27.08%) Interfund Transfers 2,268,500 2,156,100 1,617,075 35,777 1,581,298 97.79% (6) 662,721 (626,944) (94.60%) Other costs 13,783,300 14,059,600 10,544,700 4,737,013 5,607,687 55.08% (9) 5,207,652 (470,639) (9.04%) Total expenditures 25,608,100 25,772.000 19,329,000 11,889,714 7,439,286 38.49% 12,536,265 (646,551) (5.16%) Net profit(loss) (6,982,500) (7,194,200) (5,395,650) (1.216,742) 4,178.908 77,45% 3,169,477 ° (4,386,2202 (13839/) S (ER t ii Revenues 6,169,900 6,110,000 4,582,500 4,018,488 (564,012) (12.31%) (10) 5,722,887 (1,704,399) (29.78%) Expenditures 6,379,800 6,445,300 4,833.975 2,559,645 1,974,330 40.84% (9) 2,982,635 (122,990) (4.12%) Net profit(loss) (209,900) (335,300) (251,475) 1,158,843 1,410.318 560.82% 2 740,252 (1,581,409) (57.71%) SOU)WASTF.F11ND Revenues 3,996,900 3,996,900 2,997,675 2,814,253 (183,422) (6.12%) 2,791,391 22,862 0.82% Expenditures 3,996,900 3,996,900 2,997,675 2,120.337 877,338 29.27% (11) 2,088,478 31,859 1.53% Net revenues and expenditures _ - - - 693,915 693,915 N/A 702,913 (8,998) (1.28%), Page 2 all CURRENT YEAR PRIOR YEAR Year to Date Prior Year Mouth: 9 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 DEV"(1PMENF R/NDS(131 Revenues 2,334,600 2,261,000 1,695,750 903,392 (792,358) (46.73%) (12) 1,554,582 (651,190) (41.89%) Expenditures 9,708500 11,849,200 3,886900 1,109,042 7,777,858 87.52%(12) 1,692,165 (583.123) (3446%) Net revenues and expenditures (7,373,900) _ (9,588,200) (7,191,150) (205,650) 6,985,500 97.14% _ (137,583) (68,067) 49.47% CONSTRI ICTION FUNDS Revenues 31,318,500 35,762,500 26,821,875 6,666,256 (20,155,519) (75.15%) (6) 25,138,966 (18,472,710) (73.48%) Expenditures 32,633,900 36,580,200 27,435,150 3,680,003 23,755,147 86.59% (6) 25,061,870 (21,381,867) (85.32%) Net revenues and expenditures (815.400) _ (817,700) (613.2751 2,98)52 3,599.527 586.94% 77,096 2,909,156 (3773.42%) LANDSCAPE AND LIGFITLNG DISTRICT FUNDS Revenues 9,025,400 9,002,700 5,752,025 5,930,886 (821,139) (12.16%) (1) 5,508,305 422,581 7.67% Expenditures 10,989,400 11,392,700 8.544,525 7,373.905 1,170,620 13.70°D/ (7) 6,557,049 816,856 12.46% Net revenues and expenditure (1,964,000) (2,390,000) (1,792500) (1,443,019) 349,481 19.50% (1,048,744) (394275) (37.59%) ASSESSMENT DISTRICT FUNDS Revenues 1,150,200 1,132,700 849,525 721,761 (127,764) (15.04%) (1) 1,228,099 (506,338) (41.23%) Expenditures 1,118,300 1,113,300 838.725 1,248.275 (405,550) (48.35%) (6) 1,366,657 (122,382) (8.95%) Net revenues and expenditures _ 31,900 14,400 _ 10,800 (522,515) (533,3151 N/A (138.558) _ (383,957) (277.11%) CONIMUNITY FACILITIES _DISTRICTS FUNDS Revenues 11,366,100 11,285,000 8,463,750 6,507,341 (1,956,409) (23.12%) (1) 11,220,944 (4,713,603) (42.01%) Expenditures 11,575,400 11,553,000 8,654.750 8,358,750 306,000 3.53% 19,231.557 (10,872,807) (56.54%) Net revenues and expenditures (209,300) (268,000) (201.000) (1,851,409 (1,650,409) (821.10%) (8,010,6131 6,159.204 76.89% MISCELLANEOUS FUNDS(141 Revenues 13,850.000 17,667.800 13,250,850 4,141,084 (9,109,766) (68,75%) (15) 6,274,969 (2,133,885) (34.01%) Expenditures 16,771,900 20,727,600 15,545,700 6,803,764 8,741,936 56.23% (7) 4,863,312 1,940,452 39.90% Net revenues and expenditures (2,921,900) (3,059,800) (2,294,850) (2,662,680) (367,830) (16.03%) 1,411,657 (4,074,337) 288.62% Page 3 ol 3 the beginning of the fiscal year; less are received at scent intervals arty and special as tax t s10eS,°ess acerne er eras are collected at f t f is roP the hvo property fines and fort FOOTNOTES tura D the collection of property April when star tax,and an s. 1. Due ��creas Deem business e tax,P an mise fees are recorded on annual bass 1 eu bar through AP ropepy trap to the e from titans d the Fran vary les lax, calendar quarter, there is an o lieu fees,sales end of each ca nature- such as donations which vehicle in- year. after the are cY°tical in ous revenues 2. Motor throughout the fiscal Y ted and recorded fees Y throu9 .inspection o miscellaneous allocated and engineering cites; also, annualldepending em�ann tlnteresinc its different so u 3. Investoren from i annually.ors are usually Pa' year. building Penn irnbursernents uaderly,sem-. both of Dost re de q Districts go 4.The collection of rally ma unity p rly,yes Y 9 pout the avarietY throe f Isca nts include duns transfers are gape d om irate entDistndsan Q m 6 T re$tl accou to Year. 9 n 9 Q dare noaex from Year is that ssessm 1 in nature an Man em erase e e q,etc greatly for this aeb Services for the A ranee Premiums(Res 5endin out aYr^en - k 1 reason a expenditures rorsuy services rendered and th e r 6.The princioPah�transfer,and Purpose pP sty l a ting invoices for etim nee , enditures are e�`o�essin9°0 Fin resen the Period. 7.Sefectrveb,^d9 dedhudit and datap ce vendorsP ualbis' ties co etas Eor eenw the behveen as pe hen d'ifferen an ann I raven d the lag time b Exa P due to the timing erases are recorded on t out and the actua by rpreci is were sen ante is cause 1 This variance and amortization the billings that the vac depends on when exp the g.The depreciation the timing when the utility ff r. It appears and ebet contractor. on acto cyclical in nature ce is caused by behalf of the men[fees is cy Bogies, 10.This variance waste contra development General City F it tanpees on contractor. lUe collects the solid when It pays the op the f aciGt�es d , 11.The city fees and w is that the collection 1 Fee,Ex 1sUng Infrastructure,Gity collects the variance Traffic Signa , Fee Funds Law reason for u for construction. Quimby In lieu,afar Facilities c Safety,Local 12.Theprincipal toper aobtain Perm Tax, citizens O4,nEq Public Maintenance, aintenance capital developers Ree igiesies wer Faolitres Fee' Wren rov, s Sales Misc G following Park inf as Taxi Se Project, Measur ITraHollosSamt ax, Ci per treettY Sleepy M9 pederal Grants rel ated to several Quaff 13. consists of the ee Storm Dra Sweeping, as Tex, gtreet pederal Enier9 rc Facdifies F draw dovm various TraffSGDgos Atit emeo�H Foundation and g following when the city is eli ible to 14 consists of the rat, s puthontY, ant BlocT es \ roman° due to the timing Enforcemte5sin9, e}s Data Pro on for this variant 15.The Prince elntrpro�ects. imPrOverr'• Paget°I t