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08-09-2016 CC Rpt 12COUNCIL AGENDA STAFF REPORT CITY CLERK USE ONLY toH Meeting Date: August 9, 2016 Item No.: 12 Public Hearing: ❑Discussion Item:• l Consent Item; /�7dG�l,', .... ............. ........................................... ................ August 2, 2016 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for June 2016. BAC KG RO U N DIANALYS I S: The Financial Report for June 2016 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 revised 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. 29/332 AGENDA DATE: AUGUST 9, 2016 PAGE 2 SUBJECT: MONTHLY FINANCIAL REPORT 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 Recreation Operations Fund, and the Community Development Operations 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. REVIEW BY OTHERS: None. ENVIRONMENTAL REVIEW: This proposed action is exempt from review under the California Environmental Quality Act (California Public Resources Code §§ 21000, et seq.; "CEQA") and CEQA regulations (14 California Code Regulations §§15000, et. seq.) because it does not involve any commitment to a specific project which could result in a potentially significant physical impact on the environment; and constitutes an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. Accordingly, this action does not constitute a "project" that requires environmental review (see specifically 14 CCR § 15378(b)(4-5)). Respectfully submitted: Konradt Bartlam, City Manager KB:JRL:PA:EC:dk Attachment Recommended by: Judy R. Lancaster, Finance Director 30/332 Month: 12 GENERAL FLINT) REVENUES Property taxes Property taxes -Triple Flip Property taxes -VLF Swap Sales taxes Other taxes Total taxes Motor vehicle in -lieu fees Fines and Penalties Interest income and franchise fees Engineering Fee Cost reimbursements Other revenues Operating transfers Total revenues F,XPENDITURF,S 1,4slative City Council City Attorney City Clerk Contract Services Citv Manacer Administration Public Safety Community Relations Human Resources Risk Management Emergency Preparedness Code Enfareement/Neighborhood Srves (Prior Yr) Enaineerina Engineering Administration City of chino Trills Revenues, Expenditures, and Transfers Budget and Actual Comparative Analysis for the Month Ending June 30, 2016 CURRENT YEAR PRIOR YEAR Ycar to Date Prior Year 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 4,597,200 4,597200 4597200 4,754,109 156,909 3,41% 4,579,568 174,541 3.81% 1,954,200 610,700 610,700 610,704 4 0.00% 1,666,950 (1,056,246) (63,36%) 7,086,900 7,203,600 7,203,600 7,203,600 - 0.00% 6,910,837 292,763 4.24% 5,862,600 7,011,700 7,011,700 5,299,752 (1,711,948) (24.42%) (1) 4,729,244 570,508 12.06% 1,491,600 1,660,100 1,660,100 1,591,719 (69,381) (4.12%) 1,256,510 335,209 26.68% 20,982,500 21,093,300 21,083,300 19,459,884 (1,623,416) (7.70%) 19,143,109 316,775 1.65% 31,300 31,300 31,300 31,309 9 0.03% 32,363 (1,054) (3.26%) 464,100 464,100 464,100 460,547 (3,553) (0.77%) 473,865 (13,318) (2.81%) 3,293,500 3293,500 3,293,500 2,825,087 (469,413) (14.22°/a) (2) 2,915,940 (90,853) (3,12%) 1,623,200 1,623200 1,623.200 1,522,979 (100,221) (6.17%) 1,610,516 (87,537) (5,44%) 474,900 1,019,900 1,019,900 1,082,196 62,296 6.11% 1,048,950 33246 3,17% 10,726,800 10,726,800 10,726,800 10,073,354 (6S3,446) (6,09%) 8,705,288 1,368,066 15.72% 1,609,800 15,928,800 15,928,800 15247,026 (681,774) (4.28%) 1,326,554 13,920,472 N/A 39,206,100 54,170900 54,170,900 50,702381 (3,468,519) (6.400/6) 35,256,585 15,445,796 43.81% 257,600 272,300 272,300 259,595 12,706 4.67% 241,020 (19,575) (7.71%) 350,000 350,000 350,000 243,721 106279 30.37% (5) 210,504 (33217) (15.78%) 1,128,100 I,223,100 1,223,100 1,106,724 116,376 9.Sl% 1,092,094 (24,630) (2.28%) 187,500 187,500 187,500 129,414 58,086 30.98% (5) 131,929 2,515 1.91% 1,062,200 1,170200 1,170,200 1,054,852 115,349 9.86% 1,064,971 10,119 0.95% 12,058,800 12,060,600 12,060,600 12298,796 (238,196) (1.97°/u) 11,304,190 (994,606) (8.80%) 636,200 640,100 640,100 568,444 71,656 11.19% (5) 521,936 (46,508) (8.91%) 404,800 426,600 426,600 378,709 47,891 11.23% (5) 334,447 (44262) (13.23%) 1,408,300 1,441,100 1,441,100 1,419299 21,801 1.51% 2,531,741 1,112,442 43.94°% 246,400 251,200 251,200 224,21S 26,985 10.74% (5) 280,533 56,318 20.08% 544,000 598,000 598,000 545,054 52,946 8.85% 668,829 123,775 18.51% 1,824,600 1,944,400 1,944,400 1,763,947 180,453 9.28% 1,634,209 (129,738) (7.94%) Page 1 of 4 31 /332 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 12 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) EXPENDTT[ TRES Finance Administration 2,441,000 2,584,100 2,584,100 2,257558 326,542 12.64% (5) 2,064,278 (193280) (9.360/.) Non -Departmental 60,300 60,300 60,300 50,919 9,381 15.56% (5) 55,035 4,116 7.48% Development Program 2,932,800 17,251,800 17X1,800 15,697.917 1,553,883 9.01% 1,842,147 (13,855,770) (752.15%) Public Works Administration 1,043,600 1,102,400 1,102,400 1,028,854 73,546 6.67% 880,592 (148,272) (16.84%) Facility and Equipment Maintenance 1,771200 1,838,700 1,838,700 1,575,851 262,849 14.30% (5) 1,483,499 (92.352) (6.23%) Other Maintenance 1,417,200 2,029,100 2,029,100 1,519,123 509,977 25,13% (5) 1,484,964 (34,159) (2.30%) Tnterfund Transfers Capital Improvement Projects 2,316,200 2,266,400 2,266,400 67,925 2,198,475 97.00"/0 (4) 35,169 (32,756) (93.14%) Operating Transfers 6,174,000 7,908,200 7,908,200 6,351,990 1,556,210 19.68%% (4) 5,847,670 (504,320) (8.62%) Total expenditures 38,266,800 55,606,100 55,606,100 49,542,907 7,063,193 12.70% 33,699,747 (14,843,160) (44.05%) Net revenues over/(under) expenditures 939,300 (1,435,200) (1,435,200) 2,159,475 3,594,674 250.47°/u 1,556,838 602,637 38.71% LTAR TNSURANCE RATE STABTLTZATTON FUND Operating Transfers 1,100,000 1,100,000 1,100,000 - (1,100,000) (100.00%) (4) - N/A Total revenues 1,100,000 1,100,000 1,100,000 - (1,100,000) (100.00%) - N/A Expenditures - - - - N/A - - N/A Net revenues and expenditures 1,100,000 1,100,000 1,100,000 - (1,100,000) (100.00%) - - N/A RECREATION OPERATONS FUND Revenues 1,372,100 1,396,100 1,386,100 1,389,420 3,320 0.24% 1,350,981 38,439 2.85% Operating Transfers 4,293,600 4,460,900 4,460.900 4294,200 (166,700) (3.74%) 3,049,970 1,244230 40.79% Total revenues 5,665,700 5,847,000 5,847,000 5,683,620 (163 3801 (2.79%) 4,400,951 1,282,669 29.15% Expenditures 5,665,700 5,903,700 5,903,700 5,257,062 646,638 10.95°% (5) 4,741,832 (515,230) (10.87%) Net revenues and expenditures - (56,700) (56,700) 426,558 483,258 852.31% (340,881) 767,439 225.13% COMMUNITY DEVELOPMENT OPERATIONS Community Development Fees 4,356,800 3,948,800 3,948,800 3,307,344 (641,456) (16.24%) (3) 2,020,778 1286,566 63.670/G Operating Transfers - 136,000 136,000 - (136,000) (100.00%) (4) 2,003.200 (2,003,200) (100.00%) Total revenues 4,356,800 4,084,800 4,084,800 3,307.344 (777,456) (19.03%) 4,023,978 (716,634) (17.81%) Exnenditures Administration 1282,200 1,358,300 1,358,300 1,221,736 136,564 10.05% (5) 1,148,937 (72,799) (6.34%) Building Services 1,345,000 1,411,200 1,411200 1,251,454 159,746 11.32% (S) 1,049,647 (201,807) (19.23%) Development Services 850,300 931,600 931,600 753,709 177,891 19,10% (5) 653,482 (100,227) (15,34%) Economic Development 114,700 169,700 169,700 170,094 (394) (0.23%) 164,278 (5,816) (3.54°/,,) Operating Transfers 225,800 225,800 225,800 - 225,800 100.00% (14) - - 0.00% Total expenditures 3,918,000 4,096,600 4,096,600 3,396,993 699,607 17.08%% 3,016,344 (380,649) (12,62%) Net revenues and expenditures 538,800 (11,800) (11,800) (89,649) M,849) 659.74% 1,007,634 (1,097283) (108.900/0) Paget of 32/332 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month_ 12 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 WATER FUND REVENUES Water sales 28,637,900 28,637,900 28,637,900 22,586,833 (6,051.067) (21.130%) (6) 25,693,947 (3,107,114) (12.09%) Other revenue 3,423,300 3,423,300 3,423,300 1,645,029 (1,778 271) (51.95%) (2)&(4) 1,356,219 288,810 21.30% Total revenues 32,061200 32,061,200 32,061,200 24,231,862 (7,829,338) (24.42%) 27,050,166 (2,819,304) (10,42%) FXPFT,DTTURES. Water costs 12,588,800 12,589,800 12,588,800 9,558,379 3,030,421 24.07% (8) 9,929,652 371,273 3.740/a Power costs 1,000,000 1,000,000 1,000,000 610,934 389,066 38.91% (8) 825,139 214,205 25.96% Interfund Transfers 5.309,200 5,002,800 5,002,800 1,036,341 3,966,459 79.28% (4) 1,467,786 431,445 29.39% Other costs 14,109,100 14,571,500 14,571,500 10,100,022 4,471.478 30.69% (7) 10,039,052 (60,970) (0.61%) Total expenditures 33,007,100 33,163,100 33,163,100 21,305,676 11,857,424 35.75% 22,261,629 955,953 4,29% Not profit (loss) f945,900) (1,101,900) (1,101,900) 2,926,187 4,028,087 365.56°/6 4,788,537 (1,862,3501 (38.89°/u) SEWER FUND Revenues 10,841,600 10,841,600 10,841,600 6,880,787 (3,960.813) (36.53%) (6)&(15) 6,512,232 369,555 5.66% Expenditures 9,034,400 9,236,500 9,236,500 6,301,764 2,934,736 31.77% (5) 5,775,397 (526,367) (9.11 %) Net profit (loss) 1,807,200 1,605,100 1,605,100 579,022 (1,026,078) (63.93%) 736,835 (157,813) (21.42%) SOLTD WASTE FUND Revenues 4,814,600 4,814,600 4,814,600 4,610,794 (203,806) (4.23%) 4,506,001 104,793 2.33% Expenditures 4,814,600 4,814,600 4,914,600 3,821,689 992,911 20.62% (9) 3,723,949 (97,740) (2.62%) Net revenues and expenditures - - - 789,105 789,105 N/A 782,052 7,053 0.90% DFVELOPMFNT FUNDS (11) Revenues 24,762,100 26,820,400 26,820,400 13,332,050 (13,488,350) (50.29%) (10) 2,315,552 11,016,498 475.76% Expenditures 8,411,100 11,660,300 11,660,300 7,008,529 4,651,772 39.89% (10) 537,976 (6,470,552) N/A Net revenues and expenditures 16,351,000 15,160,100 15,160,100 6323,522 (8,836,578) (58.29%) 1,777,576 4,545,946 255.74% CONSTRUCTION FUNDS Revenues 25,027,800 23,392,800 23,392,800 9,365,368 (14,027,432) (59.96%) (4) 6,122,841 3,242,527 52.96°/u Expenditures 25,027,800 23,392,900 23,392,800 9,365369 14,027,432 59.96% (4) 6,123,385 (3,241,983) (52.94%) Net revenues and expenditures - - - - - 0.00°% (544) 544 0.00% LANDSCAPE AND L1Gm nNG DISTRICT FUNDS Revenues 8,641,100 8,748,700 8,749,700 8,636,223 (112,477) (1.29%) 8,645,558 (9,335) (0.11%) Expenditures 10,288,600 10,574,200 10,574,200 8,670,025 1,904,175 18,01% (4)&(5) 8,887,051 217,026 2.44% Net revenues and expenditure (1,647,500) (1,825,5001 (1,825,500) (33,802) 1,791,698 98.15% (241,493) 207,691 (86.00%) ASSESSMENT DTSTRTCT FUNDS Revenues 447,900 447,900 447,900 543,980 96,080 21.45% (4) 475,850 68,130 14.32% Expenditures 447,900 447,900 447,900 424,474 23,426 5.23% 1,600,491 1,176,017 73,48% Net revenues and expenditures - - - 119,506 119,506 N/A (1,124,641) 1,244,147 110.63% Page of 33/332 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 12 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 COMMUNITY FACILiT'IES DISTRICTS FONDS Revenues 7,925,100 21,787,900 21.787,900 21,633,141 (154,759) (0.71%) 8,955,874 12,677,267 141.55% Expenditures 10,242,700 24,77600 24,776,800 23,282,061 1,494,739 6.03% 9,930,422 (13351,639) (134,45%) Net revenues and expenditures (2,317,600) (2,988,900) (2,999,900) (1,648,920) 1,339,981 44.83% (974,548) (674,371) (69,200/.) MfSCELLANEOUS FUNDS (12) Revenues 19,370,600 20.924,200 20,924,200 11,244,826 (9,679,374) (46.26%) (13) 9,507,950 1,736,876 18.27% Expenditures 19,534,100 19,717,400 19,717,400 12,618,606 7,098,794 36.00% (4)&(13) 8,412,906 (4,205,700) (49.99%) Net revenues and expenditures (163,500) 1,206,800 1206,800 (1,373.780) (2,580,580) (213.84%) 1,095,044 (2,468,824) (225 45%) Page 4 of 34/332 FOOTNOTES: 1. Sales tax, motor vehicle in lieu fees, properly transfer tax, and fines and forfeitures are collected at different intervals throughout the fiscal year. The sales tax received in the months of July and August were actually related to previous fiscal year. This variance is mainly caused by the two -month time lag in receiving the sales tax revenue- 2- Investment interest is allocated and recorded on a monthly basis except for the Local Agency Investment Fund (LAIF) that is received on a quarterly basis. Franchise fees are generally recorded annually except for the cable and telecommunication carriers that are recorded on a quarterly basis. It is anticipated once the quarterly franchise fees for the telecommunication carrier and the investment interest for LA1F are recorded, the variance will fall below the 10% criteria. A separate account was set up to account for the Fair Market Value (FMV) adjustment at year end, which should not be considered as interest earnings. 3. The collection of both building permits and engineering inspection fees are cyclical in nature, and the level of development related activities is less than anticipated for the fiscal year. 4. The principal reason for the variance is that some of the operating transfers are made at year end, depending on the overall result of the related fund(s) and if a transfer/subsidy is needed. Also, operating transfers that are related to the capital projects are made only when the expenditures are incurred. In some cases projects are budgeted for the fiscal year but the actual construction process has not started during the fiscal year, and therefore, the transfer amount reflects the status of these capital projects. 5. Selective budgeted expenditures are either one-time expenditures or cyclical in nature and are not expended evenly throughout the fiscal year. Examples include the audit and information technology related costs (Finance), insurance premiums (Risk Management), or one-time payment to the developers. Department is likely to request unexpended budget to be rolled over into the following fiscal year, contingent on approval by the City Manager. 6. This variance is caused by the timing when the utility billings were sent out and the actual revenues were collected for the period. 7. This account includes debt services payments that are paid on a semi-annual basis and interfund transfers that relate to various C1P projects reimbursement. 8_ Water purchase and pumping costs are highly seasonal and they are contingent on factors such as weather and demands from customers. 9. The City collects the solid waste fees on behalf of the contractor. This variance is caused by the lag time between when the City collects the fees and when it pays the contractor. 10. The principal reason for this variance is that the collection of the facilities development fees is cyclical in nature and depends on when the developers obtain permits for construction, and the timing of when the development related credits were exercised during the fiscal year. 11 _ Development fees funds consists of the following: Park & Rec Facilities Fee, Quimby in Lieu, Existing Infrastructure Fee, General City Facilities Fee, Traffic Facilities Fee, Storm Drain Facilities Fee, Sewer Facilities Fee, Water Facilities Fee Funds. 12. Miscellaneous funds consists of the following: TDA Pass Through, Special Gas Tax, Air Quality, Measure I Trans Sales Tax, Citizens Option Public Safety, CDSG Entitlement, Affordable Housing, Street Sweeping, Sleepy Hollow Road Improvement, Traffic Signal Fee, Protected Tree Replacement, Public Safety Programs, Misc, Grant, Gas Tax Sec 7360, Equipment Maintenance, Information Technology and Federal Emergency Management Agency Funds. 13. The principle reason for this variance is due to the timing when the City is eligible to draw down various Federal Grants related to several capital improvement projects. 14. The Community Development Fund budgeted a return of equity to the General Fund of $225,800, contingent to how much funding is actually available, 15_ Sewer Fund Revenues included reciept of interfund loan repayment of $3.58 Million in budget amount_ Page 1 of 1 35/332