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11-12-2008 CC Rpt A05 COUNCIL AGENDA STAFF REPORT CITY CLERK USE ONLY - : r; C .a s. ,t .. ) Meeting Date: November 12. 2008 Luz; `, i Public Hearing: 0 - r Discussion Item: D/ „ J c i( fr.P.F °191. Consent Item: ri;1. NOVEMBER 5, 2008 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the Financial Report for September 2008. BACKGROUND/ANALYSIS: The Financial Report for September 2008 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. "23 AGENDA DATE: NOVEMBER 12, 2008 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. - pectfully submitted, Recommended by, 41 rn gl. N. La Belle, City Manager f d R.eancaster, Finance Director DLB:JRL:jw Att. City of Chino Hills Revenues,Expenditures,and Transfers Budget and Actual Comparative Analysis for the Month Ending September 30,2008 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 3 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 3,969,100 3,969,100 992,275 - (992,275) (100.00%) (1) - - N/A Property taxes-Triple Flip 1,593,200 1,593,200 398,300 - (398,300) (100.00%) (1) - - N/A Property trues-VLF Swap 6,335,800 6,335,800 8,583,950 - (1,583,950) (100.00%) (I) - - N/A Sales taxes 4,779,500 4,779,500 1,194,875 428,948 ) ( ) (2) (5,031) (1.16%) (765,927 ti4.10% 433,979 Other taxes 1,030,600 1,030,600 257,650 140,065 (117,585) (45.64%) (2) 139,600 465 0.33% Total taxes 17,708,200 17,708,200 4,427,050 569,013 (3,858,037) (87.15%) 573,579 (4,566) (0.80%) Motor vehicle in-lieu fees 475,800 475,800 118,950 92,730 (26,220) (22.04%) (2) 102,592 (9,862) (9.61%) Fines and Penalties 652,400 652,400 163,100 118,432 (44,668) (27.39%) (2) 139,152 (20,720) (14.89%) Interest income and franchise fees 4,326,700 4,326,700 1,081,675 .314,349 (767,326) (70.94%) (3) 507,288 (192,939) (38.03%) Community Development fees 4,596,700 4,636,800 1,159,200 694,554 (464,646) (40.08%) (4) 917,750 (223,196) (24.32%) Cost reimbursements 316,300 316,300 79,075 97,848 18,773 23.74% (5) 67,566 30,282 44.82% Other revenues 7,238,500 7,238,500 1,809,625 1,554,946 (254,679) (14.07%) (5) 1,351,990 202,956 15.01% Operating transfers 1,057.400 1.114,900 278,725 - (278,725) (100.00%) (6) 22,085,765 (22,085,765) (100.00%) Total revenues 36,372,000 36,469,600 9,117,400 3,441,873 (5,675,528) (62 25%) 25,745,682 (22,303,8101 (86.63%) EXPENDITURgg Legislative City Council 282,100 282,100 70,525 51,690 13,835 26.71% (7) 57,736 (6,046) (10.47%) City Attorney 450,000 465,900 116,475 23,058 93,417 80.20% (8) 45,969 (22,911) (49.84%) City Clerk 832,600 832,600 208,150 155;669 52,481 25.21% (7) 149,048 6,621 4.44% City Manager Administration 1,350,800 1,514,800 378,700 277,644 101,056 26.69% (7) 286,746 (9,102) (3.17%) Contract Services 185,900 185,900 46,475 27,882 18,593 40.01% (7) 27,501 381 1.38% Community Relations 494,100 496,400 124,100 81,696 42,404 34.17% (7) 64,544 17,152 26.57% Human Resources 375,100 376,700 94,175 63,579 30,596 32.49% (7) 64,284 (705) (1.10%) Risk Management 825,400 833,800 208,450 734,367 (525,917) (252.30%) (7) 691,523 42,844 6.20% Community Develonment Administration 1,152,100 1,152,100 288,025 211,368 76,657 26.61% (7) 177,271 34,097 19.23% Building Services 1,278,900 1,278,900 319,725 221,484 98,241 30.73% (8) 182,194 39,290 21.56% Development Services 1,572,200 1,665,100 416,275 183,452 232,823 55.93% (7) 149,408 34,044 22.79% Economic Development 101,300 129,300 32,325 8,134 24,191 74.84% (7) 11,196 (3,062) (27.35%) Community Services Administrative 890,400 917,600 229,400 149,386 80,014 34.88% (7) 172,469 (23,083) (13.38%) Neighborhood Services and Code Enforcement 1,290,500 1,290,500 322,625 210,853 111,772 34.64% (7) 191,275 19.578 10.24% Public Safety 10,292,600 10,369,500 2,592,375 2,366,956 225,419 8.70% 2,292,815 74,141 3.23% Recreation Services 2,979,100 3,057,600 764,400 628,884 135,516 17.73% (7) 556,531 72,353 13.00% Page 1 of 4 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 3 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 919,700 919,700 229,925 186,838 41,087 17.87% (7) 155,901 32,937 21.13% Engineering Services 1,510,500 1,510,500 377,625 175,082 202,543 53 64% (7) 142,980 32,102 22.45% Finance Administrative 2,019,300 2,071,400 517,850 373,499 144,351 27.88% (7) 591,249 (217,750) (36 83%) Non-Departmental 75,900 242,100 60,525 18,937 41,588 68.71% (7) 3,829 15,108 394.57% Development Program 9,761,800 10,314,800 2,578,700 709,926 1,868,774 72.47% (7) 412,730 297,196 72.01% Public Facilities and Onerations Administrative 825,200 825,200 206,300 154,410 51,890 25.15% (7) 142,605 11,805 8.28% Facility and Equipment Maintenance 1,390,300 1,230,500 307,625 202,931 104,694 34.03% (7) 204,974 (2,043) 0.00%) Other Maintenance 985,300 1,017,900 254,475 207,924 46,551 18.29% (7) 136,423 71,501 52.41% Interfirnd Transfers Capital Improvement Projects 17,593,000 17,602,900 4,400,725 62,635 4,338,090 98.58% (6) 834,200 (771,565) (92.49%) Operation Transfers 646.700 646.700 161,675 54,750 106,925 66.14% (6) 25,400 29,350 115.55% Total expenditures 60,080.800 61,230,500 15,307,625 7,545,035 7,762,590 50.71% 7,770,801 (255,116) (3.28%) Net revenues over/(under) expenditures (23,708,800) (24,760,900) (6,190,225) _ (4,103,162) 2,087,063 33.72% 17,974,881 (22,048,69 (122.66%) WATER FUND REVENUES Water sales 17,245,100 17,245,100 4,311,275 4,258,219 (53,056) (1.23%) 4,301,734 (43,515) (101%) Other revenue 708,700 708,700 177.175 365,684 188,509_ 106.40% (10) 170,237 195,447 114.81% Total revenues 17,953,800 17,953,800 4,488.450 4,623.9113 135,453 3 02% 4,471,971 151,972 3 40% EXPENDITURES Watercosts 8,033,300 8,033,300 2,008,325 2,263,202 (254,877607,623 % (12.69%) (S) 1,655,579 36.70/ Power costs 786,900 786,900 196,725 231,536 (34,811) (17.70%) (8) 156,401 75,135 48.04% Interfund Transfers 3,153,100 3,153,100 788,275 122,656 665,619 84.44% (6) 34,475 88,181 255.78% Other costs 13,100,300 13,593,400 3,398,350 1.410,480 1,987,870 58.50% (9) 987,803 422,677 42.79°0 Total expenditures 25,073,600 25,566,700 6,391.675 4,027,874 2,363,801 36.98% 2,834,256 1,193,616 42.11% Net profit(loss) _ (7,119,800) _ (7,612,900) (1,903,225) 596,029 2,499,254 131.32% 1,637,712 (1,041,684) (63.61%) SEWER FUND Revenues 10,875,200 11,197,200 2,799,300 2,856,706 57,406 2.05% 1,140,213 1,716,493 150.54% Expenditures 6,075,600 6,380,900 1,595,225 314,299 1,280,926 80.30% (9) 494,742 (180,443) (36.47%) Net profit(loss) 4,799,600 4,816,300 1,204.075 2,542,407 __„__1,338,332 111.15% 645,471 1,896,936 293.88% SOLID WASTE.FUND Revenues 3,800,000 3,800,000 950,000 804,083 (145,917) (15.36%)(11) 754,863 49,220 6.52% Expenditures 3,800,000 3,800,000 950.000 115,638 834.362 87.83%(11) 261,587 (145,949) (55.79%1 Net revenues and expenditures o 0 0 688,445 688,445 N/A 493,276 195,169 39.57% Page 2 ol 4 CURRENT YEAR PRIOR YEAR Year to Date Prior Year Month: 3 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 DEVELOPMENT FUNDS i13 Revenues 11,812,400 11,812,400 2,953,100 748,918 (2,204,182) (74.64%) (12) 1,867,869 (1,118,951) (59.91%) Expenditures 13,779,100 13,829,600 3,457,400 464.404 2,992.996 86.57% (12) 1,017,592 1553,188) (54.36%) Net revenues and expenditures (1,966,700) (2,017,201 __ _(504,300) 284,514 788,814 156.42% 850,277 (565,76 (66.54%) CONSTRUCTION FUNDS Revenues 95,685,900 95,887,400 23,971,850 730,132 (23,241,718) (96.95%) (6) 8,669,471 (7,939,339) (91.58%) Expenditures 96,639,500 96,841,000 24,210,250 8,754.887 _ 15,455.363 63.84% (6) 8,673,940 80,947 0.93% Net revenues and expenditures (953,600) (953,600) (238,400) (8,024,755) (7,786,355 3266.09% (4,469) (8,020,286) N/A LANDSCAPE AND LIGHTING DISTRICT FUNDS Revenues 12,465,200 12,696,200 3,174,050 787,004 (2,387,046) (75.21%) (I) 822,686 (35,682) (4.34%) Expenditures 10,859,900 10,871,700 2,717,925 2,043,434 674,491 24.82% (6) 2,012,735 30,699 1.53% Net revenues and expenditure 1,595,300 1.824.500 456.125 (1,256,430) (1,712,555) (375.46%) (1,190,049) (66,381) 5.58% ASSESSMENT DISTRICT FUNDS Revenues 1,121,500 1,121,500 280,375 18,222 (262,153 (93.50%)) (49,477) (73.08%) (1) 67,699 Expenditures 1,187,600 1,187,600 295,900 1,050,964 (754,064) (253.98%) (6) 741,737 309,227 41.69% Net revenues and expenditures (66,1001 (66,100) (16,525) (1,032,742) _ („1,016,217) 6149.57% (674,038) _ (358,704) 53.22% COMMUNITY FACILITIES DISTRIC IN FUNDS Revenues 11,288,500 11,601,200 2,900,300 426,258 (2,474,042) (85.30%) (1) 7,149,309 (6,723,051) (94.04%) Expenditures 47,659,800 47,659,800 11,914,950 7.899.249 4,015,701 33.70% (6) 18,064,391 (10.165.142) (56.27%) Net revenues and expenditures (36,371,300) (36,058,600) (9,014,650 7,472,991 1,541,659 17.10% (31.54%) � ( ) (10,915,082) 3,442,091 MISCELLANEOUS FI MDS(I41 Revenues 17,728,000 17,977,100 4,494,275 1,151.581 (3,342,694) (74.38%)(15) 1,031,037 120,544 11.69% Expenditures 20,805.500 21,388.700 5,347,175 1,079,235 4,267,940 79.82% (6) 1,791,729 (712,494) (39.77%) Net revenues and expenditures (3,077,500) (3,411,600) (852.900) 72,346 925,24E 108.48% (760,692) 833,038 (109.51%) Page 3 of 4 beg\np1n9 of the fiscal YaaG ce;vedatthe '1nteNals \ess ace r e due, d at different d aments laze tints be°om are co11e°te sP o Propemss tax .,nsta\tor and EorEeltures ^annual bass s. Sores °n a coPe�a^the tax,and s are recorded re of the°pee th o business PPicV Wbe tax,pcopenY transfer and the deter se tee ac o^s which va lei nse FQQTNQTES Due ni the�nUeaSe fiom Deem tax,d record ll°after of each calendar quarter, stere' ure such as d°n A. there•1s an u fees,safes r the end s ace cyc\1ca\rn^ \\anepOs raven dePendln9 on the y Motor houttheCrsceVYear' ted andce°°rdeda eer\n91^speciwn dif ferent nnuapy, Y tte tee 5 also,n;1s or annually � year. throug Urce ' 4.'the {eretbo a\\ora its ande fn t5 from n lees \V made quarterly,5emr a ded eve^\Y throu9h0utthe fis me^is 34C in estmen�o^of bei on for thrs eem bur5emna e qure an k Mana9 e City se e co11e e a variety of� transfers are 9e^era Y dare not eem nth,etc nd out paY 1n9 '(hese acCOuyea�o Year. ^ c 1s thatfn<ertu °r°ycYwal;(moms lRrs tendered and{h e 5. 9ceatlp`n Psi a trar`sfe c_th s va an are elth�°51n9�stsxlF\nanGelSln e rann invoices for seNrr�s ren t Year the nhng g. P moose of th exp nd data P s petv,�een vend re anhUa\bads. the beginning°f the flsca hole between When endlture co ors P 1.ExymP es un 9ude he aurid a m9 dltfe °e corded°^an reversed In by the tag the ren ,Here ce is caused on When duetotheby aredepends Ned at rune 3°'n an\t � Mat the variance Gon exPe^5es eats tore an s vadCi e socia a appears al\n nature S.Th revenues accrued p Y Y contractor. 1\ depreciation and by the es.1s cyclic Cit Fact\1 r , 'Che de4{e behalf°t the. ' dyvefoP^ientfe uce enecal fel , fees 9• waste rias,e contractor. co ;GUes UastN °t G to Public Safety s variance s pd Wa pays the on of the far EXrsim9\^ Ce2ens QP e, 10.Th d co4eds the and When it P that cored 8w 519^aV fee Funds' ev g\o°�Gra�ynY Maintenance,The City s the tees °e c th err,Tra diR6es Gomm D Equip capital t1. City rolled 1 reason for 1EoraconsUucbon. Fee Qu mby 1Fe W attic Fa SaVesTax, C Mrsc.Gcast, ted to sav efd tide Measure 11 No11 W °ad h birse vice Fund •12. e atEc FObiles Perm Rea Faces,Sew er FaGCeles R rk& FaEnittis, De neve\oP n9 Park P1rQua111YPNeePfn9,S\eePy CH Corp dOWnvariousFederatGra^tsreta Chef Fee Storm sTax, W *Pt Agency, 13.G0 Data °t tint,Vest emer9 M9 CH dnOrp SPCOBG EntAlem When the Ctty'is TcatElcFz ile RolVovnG�ant, an°s PutpontY'Fede t4'C0 cal laW Ent?ASS Necm is due to the tlrrmin9 OataPco°essn9' variance 15.The P Veen1 reason T this n°e ;mPro pa903 4014