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10-12-2010 CC Rpt A05 COUNCIL AGENDA STAFF REPORT ciTYRI—ET EIPl 5j pg Meeting Date: October 12. 2010 2Q10 OCT —4 PM 2: 34 Alta Public Hearing: ❑ OFFICE OF CIT Y CLERK ,, ,.; Discussion Item: o CHIN HILLS �, cr ori ^rsw. Consent Item: OCTOBER 5, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for August 2010. BACKGROUND/ANALYSIS: The Financial Report for August 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: OCTOBER 12, 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, / // Qat% 64(4 •Michael S. Flea.-r ity Manager Judb19. L#caster, Finance Director MSF:JRL:PS:dk Attachment City of Chino Hills Revenues,Expenditures,and Transfers Budget and Actual Comparative Analysis for the Month Ending August 31,2010 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 2 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 REVENUES Property taxes 3,881,500 3,881,500 646,917 - (646,917) (100.00%) (1) - - N/A Property taxes-Triple Flip 1,478,600 1,478,600 246,433 - (246,433) (100.00%) (1) - - N/A Property taxes-VLF Swap 6,168,900 6,168,900 1,028,150 - (1,028,150) (100.00%) (1) - - N/A Sales taxes 4,435,800 4,435,800 739,300 - (739,300) (100.00%) (2) 123 (123) (100.00%) Other taxes 1,278,100 1,278,100 213,017 71,886 (141,131) (66.25%) (2) 55,340 16,546 29.90% Total taxes 17,242,900 17,242,900 2,873,817 71,886 (2,801,931) (97.50%) 55,463 16,423 29.61% Motor vehicle in-lieu fees 115,500 115,500 19,250 3,933 (15,317) (79.57%) (2) 13,900 (9,967) (71.70%) Fines and Penalties 603,600 603,600 100,600 85,302 (15,298) (15.21%) (2) 74,923 10,379 13.85% Interest income and franchise fees 3,117,200 3,117,200 519,533 (29,302) (548,836) (105.64%) (3) 86,670 (115,972) (133.81%) Community Development fees 2,287,700 2,287,700 381,283 407,519 26,235 6.88% 386,053 21,466 5.56% Cost reimbursements 407,000 407,000 67,833 5,370 (62,463) (92.08%) (4) 15,590 (10,220) (65.55%) Other revenues 6,426,900 6,426,900 1,071,150 2,042,979 971,829 90.73% (4) 1,038,407 1,004,572 96.74% Operating transfers 1,814,100 1,814,100 302,350 605,600 303,250 100.30% (5) 1,094,600 (489,000) (44.67%) Total revenues 32,014,900 32,014,900 5,335,817 3,193,288 (2,142,529) (40.15%) 2,765,606 427,682 15.46% EXPENDITURES Legislative City Council 244,200 244,200 40,700 53,756 (13,056) (32.08%) (6) 35,131 18,625 53.01% City Attorney 350,000 350,000 58,333 29,296 29,037 49.78% (7) 43,158 (13,862) (32.12%) City Clerk 865,900 865,900 144,317 97,996 46,321 32.10% (6) 96,994 1,002 1.03% City Manager Administration 996,400 996,400 166,067 118,472 47,594 28.66% (6) 147,822 (29,350) (19.85%) Contract Services 157,000 157,000 26,167 24,995 1,171 4.48% 24,477 518 2.12% Community Relations 537,400 537,400 89,567 53,669 35,897 40.08% (6) 66,377 (12,708) (19.14%) Human Resources 429,800 429,800 71,633 39,865 31,769 44.35% (6) 33,454 6,411 19.16% Risk Management 984,300 984,300 164,050 1,021,966 (857,916) (522.96%) (6) 735,068 286,898 39.03% Community Development Administration 1,007,500 1,007,500 167,917 124,888 43,028 25.62% (6) 136,207 (11,319) (8.31%) Building Services 1,017,500 1,017,500 169,583 118,232 51,351 30.28% (6) 110,357 7,875 7.14% Development Services 957,300 957,300 159,550 70,441 89,109 55.85% (6) 65,263 5,178 793% Economic Development 65,600 65,600 10,933 3,561 7,372 67.43% (6) 3,974 (413) (10.39%) Community Services Administrative 893,900 908,000 151,333 94,360 56,973 37.65% (6) 100,803 (6,443) (6.39%) Neighborhood Services and Code Enforcement 1,169,100 1,169,100 194,850 144,864 49,986 25.65% (6) 138,478 6,386 4.61% Public Safety 10,074,100 10,074,100 1,679,017 1,743,380 (64,364) (3.83%) 1,694,717 48,663 2.87% Recreation Services 2,523,600 2,523,600 420,600 410,562 10,038 2.39% 479,005 (68,443) (14.29%) Page 1 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 2 Year Revised Budget Actual vs Origmal 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 QENERAI,RIND(continued) EXPENDITURES(continued) Engineering Administrative 779,400 779,400 129,900 93,577 36,323 27.96% (6) 90,330 3,247 3.59% Engineering Services 1,001,100 1,001,100 166,850 108,213 58,637 35.14% (6) 105,364 2,849 2.70% Finance Administrative 2,107,600 2,107,600 351,267 260,690 90,577 25.79% (6) 258,111 2,579 1.00% Non-Departmental 85,900 85,900 14,317 4,361 9,956 69.54% (6) 2,041 2,320 113.67% Development Program 2,023,300 2,023,300 337,217 19,556 317,661 94.20% (6) 15,710 3,846 24.48% Public Works Administrative 786,300 786,300 131,050 92,905 38,145 29.11% (6) 92,766 139 0.15% Facility and Equipment Maintenance 1,234,600 1,234,600 205,767 127,091 78,676 38.24% (6) 133,152 (6,061) (4.55%) Other Mamtenance 731,700 738,300 123,050 114,246 8,804 7.15% 115,432 (1,186) (1.03%) Interfund Transfers Capital Improvement Projects 3,969,400 3,969,400 661,567 1,278 660,289 99.81% (6) 23,612 (22,334) (94.59%) Operation Transfers 580,600 580,600 96,767 44,467 52,300 54.05% (5) 44,483 (16) (0.04%) Total expenditures 35,573,500 35,594,200 5,932,367 5,016,687 915,680 15.44% 4,792,286 224,401 4.68% Net revenues over/(under) expenditures (3,558,600) (3,579,300) (596,550) (1,823,399) (1,226,849) (205.66%) (2,026,680) 203,281 10.03% WATER FUND REVENUES Water sales 19,554,600 19,554,600 3,259,100 2,906,026 (353,074) (10.83%) (9) 2,656,797 249,229 9.38% Other revenue 933,000 933,000 155,500 (20,779) (176,279) (113.36%) (4) 85.356 (106,135) (124.34%) Total revenues 20,487,600 20,487,600 3,414,600 2,885247 (529,353) (15.50%) 2,742,153 143,094 5.22% EXPENDITURES Water costs 9,959,100 9,959,100 1,659,850 1,295,980 363,870 21.92% (7) 1,710,904 (414,924) (24.25%) Power costs 935,200 935,200 155,867 84,684 71,183 45.67% (7) 55,631 29,053 52.22% Interfund Transfers 2,510,000 2,510,000 418,333 - 418,333 100.00% (5) 9,499 (9,499) (100.00%) Other costs 9,313,100 9,313,100 1,552,183 1,127,984 424,200 27.33% (8) 700,990 426,994 60.91% Total expenditures 22,717,400 22,717,400 3,786,233 2,508,647 1,277,586 33.74% 2,477,024 31,623 1.28% Net profit(loss) (2,229,800) (2,229,800) (371,633) 376,600 __748,233_ 201.34% 265,128 111,471 42.04% SEWER FUND Revenues 6,475,900 6,475,900 1,079,317 615,180 (464,136) (43.00%) (9) 684,400 (69,220) (10.11%) Expenditures 5,658,700 5,658,700 943,117 216,598 726,518 77.03% (8) 193,445 23,153 11.97% Net profit(loss) 817,200 817,200 136,200 398,582 262,382 (192.64%) 490,955 (92,373) (18.81%) SOLID WASTE FUND Revenues 4,188,500 4,188,500 698,083 498,007 (200,076) (28.66%)(10) 477,351 20,656 4.33% Expenditures 4,188,500 4,188,500 698,083 (207,615) 905,699 129.74%(10) (183,531) (24,084) 13.12% Net revenues and expenditures - - - 705,623 705,623 N/A 660,882 44,741 6.77% Page 2 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 2 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(121 Revenues 1,955,000 1,955,000 325,833 16,859 (308,974) (94.83%)(11) 67,312 (50,453) (74.95%) Expenditures 10,352,300 10,352,300 1,725,383 3,692,620 (1,967,236) (114.02%)(11) 104,212 3,588,408 3443.37% Net revenues and expenditures (8,397,300) (8,397,300) (1,399,550) (3,675,760) (2,276,210) (162.64%) (36,900) (3,638,860) N/A CONSTRUCTION FUNDS Revenues 35,915,300 36,170,700 6,028,450 2,126,277 (3,902,173) (64.73%) (5) 300,778 1,825,499 606.93% Expenditures 39,742,200 39,997,600 6,666,267 2,139,871 4,526,396 67.90% (5) 300,074 1,839,797 613.11% Net revenues and expenditures (3,826,900) (3,826,900) (637,817) (13,594) 624,222 97.87% 704 (14,298) N/A LANDSCAPE AND LIGHTING DISTRICT FUNDS Revenues 8,361,800 8,432,000 1,405,333 436,052 (969,281) (68.97%) (1) 1,118,629 (682,577) (61.02%) Expenditures 9,793,300 9,911,600 1,651,933 1,306,472 345,462 20.91% (5) 1,877,874 (571,402) (30.43%) Net revenues and expenditure (1,431,500) (1,479,600) (246,600) (870,420) (623,820) (252.97%) (759,245) _ (111,175) (14.64%) ASSESSMENT DISTRICT FUNDS Revenues 1,018,100 1,018,100 169,683 (9,846) (179,529) (105.80%) (I) 2,371 (12,217) N/A Expenditures 1,023,000 1,023,000 170,500 26,063 144,437 84.71% (5) 28,711 (2,648) (9.22%) Net revenues and expenditures (4,900) . (4,900) (817) (35,909) (35,092) N/A (26,340) (9,569) (36.33%) COMMUNITY FACILITIES DISTRICTS FUNDS Revenues 11,660,300 11,660,300 1,943,383 (98,620) (2,042,003) (105.07%) (I) 19,778 (118,398) N/A Expenditures 10,984,200 10,984,200 1,830,700 70,477 1,760,223 96.15% (5) 137,829 (67,352) (48.87%) Net revenues and expenditures 676,100 676,100 112,683 (169,097) (281,780) 250.06% (118,051) (51,046) (43.24%) MISCELLANEOUS FUNDS(131 Revenues 21,625,200 21,935,100 3,655,850 298,991 (3,356,859) (91.82%)(14) 383,107 (84,116) (21.96%) Expenditures 24,040,100 24,360,000 4,060,000 1,842,513 2,217,487 54.62% (6) 1,695,675 146,838 8.66% Net revenues and expenditures (2,414,900) (2,424,900) (404,150) (1,543,522) (1,139,372) (28L92%) (1,312,568) (230,954) (17.60%) Page 3 of 3