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12-14-2010 CC Rpt A05 COUNCIL AGENDA STAFF REPORT clitetEm y4C tyLY Meeting Date: December 14. 2010 2010 DEC -6 AM 10: 514 Public Hearing: ❑ OFFICE OF CITY CLERK Discussion Item: ❑ CHINO HILLS :I.9' 'slf, Consent Item: DECEMBER 7, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for October 2010. BACKGROUND/ANALYSIS: The Financial Report for October 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: DECEMBER 14, 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, /Xice., -1 - Michlaelt.-Ff agrr, City Manager Judy R. Lanbdster, Finance Director MSF:JRL:PS:gm/ Attachment City of Chino Hills Revenues,Expenditures,and Transfers Budget and Actual Comparative Analysis for the Month Ending October 31,2010 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 4 Year Revised Budget Actual vs Original Revised to Date Year vs Year Current Year Annual Annual Revised to Date Actual Percentage to Dale Actual Percentage Budget Budget Budget Actual Variance Variance Actual Variance Variance GENERAL FUND REVENUES Property taxes 3,881,500 3,881,500 1,293,833 - (1,293,833) (100.00%) (1) - - N/A Property taxes-Triple Flip 1,478,600 1,478,600 492,867 - (492,867) (100.00%) (1) - - N/A Property taxes-VLF Swap 6,168,900 6,168,900 2,056,300 - (2,056,300) (100.00%) (I) - N/A Sales taxes 4,435,800 4,435,800 1,478,600 709,586 (769,014) (52.01%) (2) 804,416 (94,830) (11.79%) Other taxes 1,278,100 1,278,100 426,033 242,720 (183,313) (43.03%) (2) 205,938 36,782 17.86% Total taxes 17.242,900 17,242,900 5,747,633 952,306 (4,795,327) (83.43%) 1,010,354 (58,048) (5.75%) Motor vehicle in-lieu fees 115,500 115,500 38,500 59,591 21,091 54.78% (2) 52,831 6,760 12.80% Fines and Penalties 603,600 603,600 201,200 196,582 (4,618) (2.30%) 168,158 28,424 16.90% Interest income and franchise fees 3,117,200 3,117,200 1,039,067 263,099 (775,968) (74.68%) (3) 436,486 (173,387) (39.72%) Community Development fees 2,287,700 2,287,700 762,567 775,231 12,665 1.66% 763,611 11,620 1.52% Cost reimbursements 407,000 407,000 135,667 40,156 (95,511) (70.40%) (4) 1,019,129 (978,973) (96.06%) Other revenues 6,426,900 6,426,900 2,142,300 2,923,476 781,176 36.46% (4) 2,137,109 786,367 36.80% Operating transfers 1,814,100 1,814,100 604,700 605,600 900 0.15% 1,238,662 (633,062) (51.11%) Total revenues 32,014,900 32,014,900 10,671.633 5,816,041 (4,855,593) (45.50%) 6,826,340 (1,010299) (14.80%) EXPFNT)ffURES Legislative City Council 244,200 244,200 81,400 82,551 (1,151) (1.41%) 65,341 17,210 26.34% City Attorney 350,000 350,000 116,667 126,641 (9,974) (8.55%) 144,727 (18,086) (12.50%) City Clerk 865,900 865,900 288,633 221,207 67,427 23.36% (6) 216,929 4,278 1.97% Ciry Manager Administration 996,400 1,015,300 338,433 284,396 54,037 15.97% (6) 749,777 (465,381) (62.07%) Contract Services 157,000 157,000 52,333 49,991 2,343 4.48% 51,036 (1,046) (2.05%) Community Relations 537,400 541,300 180,433 132,209 48,224 26.73% (6) 139,724 (7,515) (5.38%) Human Resources 429,800 429,800 143,267 88,070 55,196 38.53% (6) 75,909 12,161 16.02% Risk Management 984,300 984,300 328,100 1,055,342 (727,242) (221.65%) (6) 767,811 287,531 37.45% Community Develooment Administration 1,007,500 1,007,500 335,833 274,195 61,638 18.35% (6) 298,113 (23,918) (8.02%) Building Services 1,017,500 1,018,700 339,567 268,757 70,810 20.85% (6) 256,084 12,673 4.95% Development Services 957,300 1,052,400 350,800 174,693 176,107 50.20% (6) 155,210 19,483 12.55% Economic Development 65,600 84,600 28,200 10,261 17,939 63.61% (6) 11,470 (1,209) (10.54%) Community Services Administrative 893,900 908,000 302,667 203,256 99,410 32.84% (6) 214,689 (11,433) (5.33%) Neighborhood Services and Code Enforcement 1,169,100 1,169,100 389,700 279,838 109,862 28.19% (6) 302,735 (22,897) (7.56%) Public Safety 10,074,100 10,074,100 3,358,033 3,571,100 (213,067) (6.34%) 3,343,225 227,875 6.82% Recreation Services 2,523,600 2,531,800 843,933 750,466 93,467 11.08% (6) 819,609 (69,143) (8.44%) Page 1 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 4 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 779,400 779,400 259,800 205,893 53,907 20.75% (6) 202,915 2,978 1.47% Engineering Services 1,001,100 1,001,I00 333,700 240,246 93,454 28.01% (6) 240,401 (155) (0.06%) Finance Administrative 2,107,600 2,110,900 703,633 592,169 111,464 15.84% (6) 617,943 (25,774) (4.17%) Non-Departmental 85,900 87,900 29,300 12,240 17,060 58.22% (6) 14,560 (2,320) (15.93%) Development Program 2,023,300 2,023,300 674,433 1,367,478 (693,045) (102.76%) (6) 886,129 481,349 54.32% Public Works Administrative 786,300 786,300 262,100 207,894 54,206 20.68% (6) 205,272 2,622 1.28% Facility and Equipment Maintenance 1,234,600 1,234,600 411,533 366,783 44,750 10.87% (6) 368,798 (2,015) (0.55%) Other Maintenance 731,700 734,000 244,667 244,290 377 0.15% 272,742 (28,452) (10.43%) Interfund Transfers Capital Improvement Projects 3,969,400 3,863,600 1,287,867 38,251 1,249,616 97.03% (6) 63,620 (25,369) (39.88%) Operation Transfers 580,600 580,600 193,533 88.933 104,600 54.05% (5) 180,537 (91,604) (50.74%) Total expenditures 35,573,500 35.635,700 11,878,567 10,937,150 941,416 7.93% 10,665,306 27I,844 2.55% Net revenues over/(under) expenditures (3,558,600) (3,620,800) (1,206,933) (5,121,110) (3,914,176) (324.31%) (3,838,966) (1,282,144) (33.40%) WATER FUND REVENUES Water sales 19,554,600 19,554,600 6,518,200 6,467,966 (50,234) (0.77%) 6,069,273 398,693 6.57% Other revenue 933,000 933,000 311,000 71,267 (239,733) (77.08%) (4) 197,954 (126,687) (64.00%) Total revenues 20,487,600 20,487,600 6,829,200 6,539,233 (289,967) (4.25%) 6,267,227 272,006 4.34% EXPENDITURES Water costs 9,959,100 9,959,100 3,319,700 2,573,350 746,350 22.48% (7) 3,469,137 (895,787) (25.82%) Power costs 935,200 935,200 311,733 284,335 27,398 8.79% 236,686 47,649 20.13% Interfund Transfers 2,510,000 2,504,200 834,733 10,209 824,524 98.78% (5) 31,954 (21,745) (68.05%) Other costs 9,313,100 9,393,500 3,131,167 2,312,280 818,887 26.15% (8) 1,647,849 664,431 40.32% Total expenditures 22,717,400 22,792,000 7,597,333 5,180,173 2,417,160 31.82% 5,385,626 (205,453) (3.81%) Net profit(loss) (2,229,800) (2,304,400 (768,133) 1)590600 2,127,193 276.93% 881,600 477,459 54.16% SEWER FUND Revenues 6,475,900 6,475,900 2,158,633 1,588,304 (570,329) (26.42%) (9) 1,678,301 (89,997) (5.36%) Expenditures 5,658,700 5,673,000 1,891,000 1,030,242 860,758 45.52% (8) 939,699 90,543 9.64% Net profit(loss) 8I7,200 _ 802,900 267,633 558,062 290,429 (108.52%) 738,602 (180,540) (24.44%) SOLID WASTE FUND Revenues 4,188,500 4,188,500 1,396,167 1,196,457 (199,710) (14.30%)(10) 1,146,223 50,234 4.38% Expenditures 4,188,500 4,188,500 1,396,167 491,884 904,283 64.77%(10) 457,485 34,399 7.52% Net revenues and expenditures 704,573 704,573 N/A 688,738 15,835 2.30% Page 2 of 3 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 4 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 DF.VELOPMENT FUNDS f 121 Revenues 1,955,000 1,955,000 651,667 253,766 (397,901) (61.06%)(11) 461,335 , 207569 ( ) (44.99%) Expenditures 10,352300 10,273,300 3,424.433 4,695,372 (1,270,9391 (37.11%)(11) 774,675 3,920,697 506.11% Net revenues and expenditures (8,397,300) (8,318,300) (2,772,767) , (4,441,606) (1,668,840) (60.19%) (313,340) (4,128,266) . N/A CONSTRUCTION FUNDS Revenues 35,915,300 36,112,200 12,037,400 4,466,900 (7,570,500) (62.89%) (5) 4,743,208 (276,308) (5.83%) Expenditures 39,742,200 39,924,900 13,308,300 4,475.438 8.832.862 66,37% (5) 1,739,746 2,735,692 15725% Net revenues and expenditures (3,826,900) (3,812,700) (1,270,900) (8,538) 1,262,362 99.33% _ 3,003,462 (3,012,000) N/A LANDSCAPE AND LIGHTING DISTRICT FT INDS, Revenues 8,361,800 8,432,000 2,810,667 922,957 (1,887,710) (6736%) (1) 1,640,058 (717,101) (43.72%) Expenditures 9,793,300 10,126,400 3,375,467 2.822,078 553,389 16.39% (5) 3.500533 (778.455) (21.62%) Net revenues and expenditure (1,431,500) (1,694,400) (564,800) (1,899,121) (1,334,321) (236.25%) (1,960,475) 61,354 3.13% ASSESSMENT DISTRICT El INDS Revenues 1,018,100 1,018,100 339,367 5,494 (333,873) (98.38%) (1) 10,893 (5,399) (49.57%) Expenditures 1,023,000 1,023,000 341,000 672,512 (331,512) (97.22%) (5) 874,394 (201,882) (23.09%) Net revenues and expenditures (4,900) (4,900) (1,633) (667,018) (665,385) N/A (863,501) 196,483 22.75% COMMUNITY FACILITIES DISTRICTS FUNDS Revenues 11,660,300 11,660,300 3,886,767 (65,255) (3,952,022) (101.68%) (1) 96,306 (161,561) (167.76%) Expenditures 10,984,200 10,973,500 3,657,833 6,029,421 (2,371,5871 (64.84%) (5) 5,975,567 53,854 0.90% Net revenues and expenditures 676,100 686,800 228,933 (6,094,676) (6,323,609) 276221% (5,879,261) (215,415) (3.66%) MISCELLANEOUS FUNDS(131 Revenues 21,625,200 21,935,100 7,311,700 1,673,539 (5,638,161) (77.11%)(14) 1,295,791 377,748 29.15% Expenditures 24,040,100 24.989,500 8329,833 3,870,812 4,459,022 53.53% (6) 3,481,131 389,681 11.19% Net revenues and expenditures (2,414,900) (3,054,400) (1,018,133) (2,197,273) , (1,179,139) (115.81%) (2,185340) (11,933) (0.55%) Page 3 or 3 inning of the fiscal Year; are received at the beg taxes,less due and special assessments tax installments s are r become collected at different intervals FOOTNOTES: collection of property he^the two propertyand forfeitures are re of the fines sal basis. 1 2.Motor to the vehicle i -1 eal Born December through AP property transfer tax,and on ean ann license tax,Prop to franchise fees are recorded there is an increase x businesswhich vary sales tax, calendar quarter,and fees, such as donation vehicle in-Iteul year. of each ca revenues throughout the fiscal Y after the end also miscellaneous throng ted and recorded ending on the reimbursements from different sources; annually depending 3, Investment interest is allocated of cost reimburs i annually,or a usually paid semi-annually. variety ❑yrterlysem ds are fiscal year. generally made q, ted9, fes iDistncts-ennual Bon 4.These accounts transfr? are 9 nd Community throughout thei-aY from Year ;;:r era noexpended evenlygreatlyseea and arant,etc.ts vacngem encs. riipddtscyclical rn mumsMa rsending out payor a expand Ute�Hpurposeoffer, n either one-Gm Finance),insurance premiums s rendered fled expenditures tothetiming era processing costs( for service vendors presenting invoices 6. Selective budgeted audit and data Examples include for the period. is due to the tfmr ti difference between collected corded on an annual basis• actual revenues when the 7. This variance expenses are re d by the lag time between ad by the timing expo billings were sent out and the cause depreciation and when the utility that variance is when the g,The dep r It appears we on is caused by thecontraclo . nature and depends behalf of the tees is cyclical in 9.This variance waste fees oche contractor- mart collects re the solid Facilities, the fees and when it pays collection of the facilities development General City 1 p.The City that the Infrastructure, City collects Fjcistln9 variance is nal Fee, principal reason for this for construction. bin Lieu,Traffic Sig. Fee Funds. 0080 Entitlement 11.The P obtain permits Fee,Quimby Water Facilities ens OPtn Public SafetyGrant,055Tax Sec 7360 developers Faris a Rea F hies,Sewer Facilities Fee, ales Tax, Citizens Efficiency Block Agency. 1 Trans 5 Energy Wt. enc . of the ng,follSl Stto�plain Road Measure c Congestion Relief, capital 12. Consists sanity Prole°t� Traffic Federal Emeat fated to several Traffic Facilities Fee, as Tax Air GLOW Prop 1B, Foundation and Grants re Special d Improv, gy,T anon Authority,CH n various Federal of the following:Hollow Technology Tres Herm eligible to draw dew 13. Consists info sleepy Information City is elig Street Sweeping, timing when the Equipment M is due to the 1q,The principle reason for this variance improvement protects' Page lot 1