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01-08-2019 CC Rpt 09 COUNCIL AGENDA STAFF REPORT Chino I IiEI´┐Ż TO: HONORABLE MAYOR AND CITY COUNCIL DATE: JANUARY 8, 2019 MEMBERS FROM: CITY MANAGER ITEM NO:9 SUBJECT:MONTHLY FINANCIAL REPORT RECOMMENDATION: Receive and file the monthly Financial Report for November 2018. BACKGROUND/ANALYSIS: The Financial Report is being presented to the City Council and the public to provide a status update of the City's financials as of November 30, 2018. The Financial Report 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. Financial data is reported on a cash basis, meaning that revenue is reported when cash is received and expenditures are reported when cash payments are made. The majority of General Fund revenues come in sporadically throughout the year and most of it is received or accrued in the last six months of the fiscal year. Meanwhile, expenditure transactions continue to be paid each month regardless of when the revenues are received. This highlights the importance of maintaining a reserve that allows for cash flow needs during the lean months when there are no revenues. At the end of the fiscal year the accrual basis of accounting is applied to all governmental accounts. As a result, many of the revenues received or expenditures paid in July and August are accrued to the month of June, to comply with the Generally Accepted Accounting Principles (GAAP), which matches the transaction to the period in which the revenue was earned or the expenditure occurred. The Enterprise Funds, or business type funds, use the "accrual" method of accounting. These business type funds charge customers a fee to cover the cost of services that are provided. This method applies to the Water Utility Fund and Sewer Utility Fund. ENVIRONMENTAL (CEQA) 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)). FISCAL IMPACT: None. 26/253 REVIEWED BY OTHERS: None. Respectfully Submitted, Recommended By: vi Wis. Konradt Bartlam Christa Buhagiar City Manager Finance Director Attachments November 2018 Financial Report 27/253 City of Chino Hills Financial Report November 30, 2018 Fiscal Year 2018-2019 28/253 CITY OF CHINO HILLS SUMMARY OF CHANGES IN THE GENERAL FUND BALANCE-ACTUAL FOR THE MONTH ENDED NOVEMBER 30, 2018 Estimated Beginning Fund Balance at 7/1/18 $ 46,491,497 Revenues $ 14,539,022 Expenditures (23,239,368) Revenues over(under) expenditures (8,700,346) Estimated Fund Balance at 11/30/18 $ 37,791,151 Less: Restricted for PARS, capital projects &special purposes $ (12,066,154) Unrestricted Fund Balance at 11/30/18 $ 25,724,997 Unrestricted Fund Balance as a %of Budgeted Expenditures 42.39% CITY OF CHINO HILLS SUMMARY OF CHANGES IN THE GENERAL FUND BALANCE- BUDGET FOR THE YEAR ENDING JUNE 30,2019 Estimated Beginning Fund Balance at 7/1/18 $ 46,491,497 Budgeted Revenues $ 52,474,688 Budgeted Expenditures (60,680,682) Revenues over(under) expenditures (8,205,994) Estimated Fund Balance at 6/30/19 $ 38,285,503 Less: Estimated Restricted for PARS, capital projects &special purposes $ (12,066,154) Estimated Unrestricted Fund Balance at 6/30/19 $ 26,219,349 Unrestricted Fund Balance as a %of Budgeted Expenditures 43.21% 29/253 CITY OF CHINO HILLS GENERAL FUND REVENUES FOR THE MONTH ENDED NOVEMBER 30,2018 FY 2018-19 Actual FY 2017-18 Actual Year-to-Date Year-to-Date as a%of Prior Year Prior YTD as a%of Variance Adjusted Actuals through Adjusted Adjusted Actuals through Adjusted Increase/ Revenue Type Budget 11/30/2018 Budget Budget 11/30/2017 Budget (Decrease) Property Tax $ 13,724,800 $ 788,884 6% $ 13,277,800 $ 587,978 4% $ 200,906 Sales& Use Tax 8,108,000 2,180,003 27% 8,110,800 1,996,357 25% 183,646 Business License 57,000 23,972 42% 110,800 46,460 42% (22,488) Property Transfer Tax 425,000 159,363 37% 640,500 120,181 19% 39,182 Transient Occupancy Tax 1,259,700 266,493 21% 1,179,500 378,358 32% (111,865) A Franchise Tax 2,172,400 390,434 18% 2,383,800 403,437 17% (13,003) Intergovernmental 41,300 15,366 37% 31,300 15,369 49% (3) Charges for Services 7,743,950 2,703,496 35% 9,081,200 3,505,561 39% (802,065) B Fines& Forfeitures 409,400 174,575 43% 404,000 196,373 49% (21,798) Use of Money and Property 1,124,900 1,510,844 134% 1,088,800 393,839 36% 1,117,005 C City Wide Overhead 10,413,800 3,938,856 38% 10,178,900 4,227,878 42% (289,022) D Other Revenues 658,114 318,526 48% 1,892,300 382,547 20% (64,021) Transfers In 6,336,324 2,068,210 33% 7,098,600 2,000,902 28% 67,308 Total Revenues $ 52,474,688 $ 14,539,022 28% $ 55,478,300 $ 14,255,240 26% $ 283,782 A-This decrease in transient occupancy tax is due to the timing of revenue received from HdL. B-The decrease in charges for services is largely due to the reduction in development related user fees, permits and services provided. C-The increase in use of money and property is due to the reversal of the loss in fair market value in the prior fiscal year. D-The decrease in city wide overhead is due to the reduction of impact fees collected from developers to pay for public facilities, such as traffic signal, storm drain, water, and sewer facilities.The overhead related to these projects are calculated by taking 7.5%of the gross development impact fees received prior to each new project being started. 30/253 CITY OF CHINO HILLS GENERAL FUND EXPENDITURES BY DEPARTMENT FOR THE MONTH ENDED NOVEMBER 30,2018 FY 2018-19 Actual FY 2017-18 Actual Year-to-Date Year-to-Date as a%of Prior Year Prior YTD as a%of Variance Adjusted Actuals through Adjusted Adjusted Actuals through Adjusted Increase/ Department Budget 11/30/2018 Budget Budget 11/30/2017 Budget (Decrease) Legislative City Council $ 334,040 $ 119,836 36% $ 308,900 $ 106,674 35% $ 13,162 City Attorney 350,000 67,458 19% 350,000 72,107 21% (4,649) City Clerk 1,451,610 506,813 35% 1,266,700 450,387 36% 56,426 Contract Services 234,767 54,457 23% 206,100 61,259 30% (6,802) City Manager Administration 1,783,279 554,738 31% 2,090,300 514,642 25% 40,096 Public Safety 13,766,600 5,821,892 42% 13,200,800 5,499,936 42% 321,956 Community Relations 766,395 242,457 32% 697,900 208,989 30% 33,468 Human Resources 489,321 168,048 34% 471,500 144,643 31% 23,405 Risk Management 2,156,188 1,942,714 90% A 2,340,100 1,969,567 84% (26,853) Emergency Preparedness 260,133 32,253 12% 258,800 25,811 10% 6,442 Code Enforcement 718,347 233,159 32% 650,500 235,710 36% (2,551) Finance Administration 2,886,564 911,677 32% 2,859,800 920,184 32% (8,507) Development Fee Program 303,500 286,538 94% B 318,500 277,238 87% 9,300 Community Services Administration 5,124,969 1,877,219 37% 5,024,600 1,866,263 37% 10,956 Recreation 1,781,526 650,403 37% 1,695,300 614,731 36% 35,672 Community Development Administration 1,338,029 468,079 35% 1,461,000 497,987 34% (29,908) Building Services 1,487,356 473,557 32% 1,684,200 557,898 33% (84,341) Development Services 2,510,920 544,123 22% 2,743,700 549,780 20% (5,657) Economic Development 214,463 75,939 35% 159,600 53,856 34% 22,083 Public Works Administration 1,414,931 494,000 35% 1,164,900 497,882 43% (3,882) Engineering 1,985,467 712,145 36% 1,936,200 650,233 34% 61,912 Facilities Maintenance 2,332,892 797,661 34% 2,350,900 785,560 33% 12,101 Other Maintenance 2,732,644 589,866 22% 1,817,100 551,628 30% 38,238 Total Operating Expenditures $ 46,423,941 $ 17,625,032 38% $ 45,057,400 $ 17,112,965 38% $ 512,067 Capital Improvement Proiects $ 217,919 $ 85,379 39% $ 283,900 $ 88,688 31% $ (3,309) Transfers Out 14,038,822 5,528,957 39% 12,942,000 2,289,283 18% 3,239,674 Total Expenditures $ 60,680,682 $ 23,239,368 38% $ 58,283,300 $ 19,490,936 33% $ 3,748,432 A-Risk Management has expended 90%of their budget on the City's liability,fire and workers compensation insurance. These are one-time expenditures by nature,and are required to be paid at the beginning of each fiscal year. B-The Western Water Works Sales Tax Reimbursement Agreement,which is 91%of the budget,is paid out in September of each year. 31/253 CITY OF CHINO HILLS CHANGES IN FUND BALANCE-ACTUAL FOR THE MONTH ENDED NOVEMBER 30,2018 Fund Balance Actuals through 11/30/18 Change in Fund Balance Fund# Fund Title 7/1/18 Revenues Expenditures Fund Balance 11/30/18 001 General Fund $ 45,333,549 $ 10,629,419 $ 19,221,705 $ (8,592,286) $ 36,741,263 003 Community Services 100,798 2,527,622 2,527,622 - 100,798 004 Community Development 1,057,150 1,228,035 1,336,095 (108,060) 949,090 005 TDA Pass Thru - 153,946 153,946 - - TOTAL GENERAL FUND $ 46,491,497 $ 14,539,022 $ 23,239,368 $ (8,700,346) $ 37,791,151 010 Gas Tax $ 2,699,857 $ 779,658 $ 948,433 $ (168,775) $ 2,531,082 011 Air Quality Management District 479,965 11,730 4,245 7,485 487,450 012 Measure I 1,210,106 317,767 552,595 (234,828) 975,278 015 Citizen's Option for Public Safety (757) 75,439 2,646 72,793 72,036 017 Community Development Block Grant (7,392) 7,392 33,170 (25,778) (33,170) A 018 Affordable Housing Program 2,980,851 133,481 6,960 126,521 3,107,372 026 Landscape&Lighting-Administration 99,200 860,864 740,927 119,937 219,137 027 Park&Recreation Facilities Fee 1,182,662 178,442 518,063 (339,621) 843,041 028 Quimby In-Lieu 2,339,740 99,833 7,326 92,507 2,432,247 030 Open Space Management - 108,567 87,146 21,421 21,421 031 Park Maintenance - 249,392 215,315 34,077 34,077 032 L&L-1-C Commercial 410,817 49,080 175,583 (126,503) 284,314 033 Street Sweeping 29,728 23,806 67,425 (43,619) (13,891) B 040 L&L-Rolling Ridge Operations&Arterial 564,128 133,679 331,445 (197,766) 366,362 045 L&L-1-H Los Ranchos Operations 373,493 566,805 1,341,360 (774,555) (401,062) B 046 L&L-1-I Los Ranchos Operations - 3,255 6,792 (3,537) (3,537) B 050 L&L-1-B The Oaks Operations 67,966 10,152 56,260 (46,108) 21,858 055 L&L-1-K Woodview Operations 160,059 4,081 9,167 (5,086) 154,973 060 L&L-1-N Carbon Canyon Operations 10,198 726 1,250 (524) 9,674 061 L&L-1-P Carbon Canyon Operations - 17,647 33,878 (16,231) (16,231) B 062 L&L-1-T Carbon Canyon Operations 22,409 1,267 1,292 (25) 22,384 071 L&L-1-M Rincon Operations 48,500 396,818 526,474 (129,656) (81,156) B 072 L&L-Los Serranos 24,976 6,857 7,068 (211) 24,765 073 L&L-Vellano 382,532 49,269 101,865 (52,596) 329,936 104 Sleepy Hollow Road Improvements 44,052 4,242 444 3,798 47,850 121 L&L-Los Ranchos Arterial 21,788 142,499 117,454 25,045 46,833 123 L&L-Woodview Arterial 1,496 3,922 2,835 1,087 2,583 124 L&L-Carbon Canyon Arterial 4,911 6,222 4,597 1,625 6,536 131 Traffic Signal Fee 186,018 4,757 - 4,757 190,775 132 Existing Infrastructure Fee 8,142,683 944,994 408,109 536,885 8,679,568 133 General City Facilities Fee 4,726,755 226,758 7,925 218,833 4,945,588 134 Traffic Facilities Fee 2,474,265 76,752 1,009 75,743 2,550,008 135 Storm Drain Facilities Fee 7,434,928 264,678 5,580 259,098 7,694,026 136 Traffic Impact Fee 44,250 20,493 1,449 19,044 63,294 140 Protected Tree Replacement (1,611) 1,611 - 1,611 - 150 PEG Access Fee 948,395 42,766 - 42,766 991,161 184 Road Maintenance&Rehabilitation Account (268) 391,159 53,368 337,791 337,523 198 Public Safety Programs 30,316 775 - 775 31,091 199 Miscellaneous Grant 278,036 - 1,562,862 (1,562,862) (1,284,826) A 504 Solid Waste - 1,739,156 798,503 940,653 940,653 506 Sewer Facilities Fee 4,703,390 169,392 9,340 160,052 4,863,442 507 Water Facilities Fee 16,276,225 680,907 49,194 631,713 16,907,938 TOTAL SPECIAL REVENUE FUNDS $ 58,394,667 $ 8,807,090 $ 8,799,354 $ 7,736 $ 58,402,403 A-Grant expenditures are reimbursed after they have been requested. B-Property tax distributions are the main funding source for these funds.The two largest installments are to be received in December and April of each year. 32/253 CITY OF CHINO HILLS CHANGES IN FUND BALANCE-ACTUAL FOR THE MONTH ENDED NOVEMBER 30,2018 Fund Balance Actuals through 11/30/18 Change in Fund Balance Fund# Fund Title 7/1/18 Revenues Expenditures Fund Balance 11/30/18 377 CFD 10 Construction $ 133,620 $ 13,222 $ - $ 13,222 $ 146,842 379 CFD 9 Capital Projects 4,862,044 577,993 16,012 561,981 5,424,025 399 Capital Improvement - 2,925,883 2,925,883 - - TOTAL CAPITAL PROJECT FUNDS $ 4,995,664 $ 3,517,098 $ 2,941,895 $ 575,203 $ 5,570,867 500 Water Utility $ 42,469,431 $ 12,255,621 $ 9,856,514 $ 2,399,107 $ 44,868,538 501 Sewer Utility 25,789,341 3,547,291 2,680,807 866,484 26,655,825 512 Water Depreciation/Rate Stabilization 7,124,811 182,196 - 182,196 7,307,007 TOTAL ENTERPRISE FUND* $ 75,383,583 $ 15,985,108 $ 12,537,321 $ 3,447,787 $ 78,831,370 551 Equipment Maintenance $ 5,066,279 $ 588,680 $ 389,661 $ 199,019 $ 5,265,298 552 Information Technology 1,095,557 790,301 626,788 163,513 1,259,070 TOTAL INTERNAL SERVICE FUNDS* $ 6,161,836 $ 1,378,981 $ 1,016,449 $ 362,532 $ 6,524,368 009 General Agency $ 35,454 $ - $ - $ - $ 35,454 627 CFD 1 -Rolling Ridge Operations 1,498,695 67,894 192,186 (124,292) 1,374,403 636 CFD 4-The Oaks Operations 5,384,290 151,812 1,308,235 (1,156,423) 4,227,867 640 CFD 5-Soquel Cyn,Rincon&Woodview Op. 5,709,612 598,438 1,910,251 (1,311,813) 4,397,799 644 CFD 6-Carbon Canyon Operations 1,569,661 86,189 373,131 (286,942) 1,282,719 647 CFD 8-Butterfield Operations 435,866 20,377 68,418 (48,041) 387,825 657 CFD 9-Rincon Village-1998 1,583,514 135,961 1,045,090 (909,129) 674,385 658 CFD 10-Fairfield Ranch 1,917,669 131,808 755,932 (624,124) 1,293,545 659 CFD-Vila Borba 806,864 83,135 95,831 (12,696) 794,168 691 Assessment District 1994 Operations 950 50 - 50 1,000 698 CFD 2-Los Ranchos Special Tax 4,563,288 306,142 1,532,628 (1,226,486) 3,336,802 699 RAD 10-1 564,902 38,971 296,127 (257,156) 307,746 TOTAL AGENCY FUNDS $ 24,070,765 $ 1,620,777 $ 7,577,829 $ (5,957,052) $ 18,113,713 GRAND TOTAL $ 215,498,012 $ 45,848,076 $ 56,112,216 $ (10,264,140) $ 205,233,872 *Long-term debt,fixed assets and investment in joint venture have been removed to reflect working capital. 33/253 CITY OF CHINO HILLS CHANGES IN FUND BALANCE-BUDGET FOR THE MONTH ENDED NOVEMBER 30,2018 Projected Fund Balance Budgeted Budgeted Change in Fund Balance Fund# Fund Title 7/1/18 Revenues Expenditures Fund Balance 6/30/19 001 General Fund $ 45,333,549 $ 40,694,765 $ 48,381,752 $ (7,686,987) $ 37,646,562 003 Community Services 100,798 6,857,396 6,906,495 (49,099) 51,699 004 Community Development 1,057,150 3,315,579 3,785,487 (469,908) 587,242 005 TDA Pass Thru - 1,606,948 1,606,948 - - TOTAL GENERAL FUND $ 46,491,497 $ 52,474,688 $ 60,680,682 $ (8,205,994) $ 38,285,503 010 Gas Tax $ 2,699,857 $ 2,037,929 $ 3,266,813 $ (1,228,884) $ 1,470,973 011 Air Quality Management District 479,965 100,700 166,527 (65,827) 414,138 012 Measure I 1,210,106 1,376,800 2,500,573 (1,123,773) 86,333 015 Citizen's Option for Public Safety (757) 100,000 100,380 (380) (1,137) A 017 Community Development Block Grant (7,392) 669,249 670,538 (1,289) (8,681) B 018 Affordable Housing Program 2,980,851 438,500 33,926 404,574 3,385,425 026 Landscape&Lighting-Administration 99,200 2,040,500 2,145,956 (105,456) (6,256) 027 Park&Recreation Facilities Fee 1,182,662 406,900 1,464,500 (1,057,600) 125,062 028 Quimby In-Lieu 2,339,740 145,700 1,503,400 (1,357,700) 982,040 030 Open Space Management - 266,417 266,417 - - 031 Park Maintenance - 603,791 603,791 - - 032 L&L-1-C Commercial 410,817 312,700 421,400 (108,700) 302,117 033 Street Sweeping 29,728 202,800 224,879 (22,079) 7,649 040 L&L-Rolling Ridge Operations&Arterial 564,128 817,200 961,800 (144,600) 419,528 045 L&L-1-H Los Ranchos Operations 373,493 3,186,200 3,508,100 (321,900) 51,593 046 L&L-1-I Los Ranchos Operations - 16,300 16,300 - - 050 L&L-1-B The Oaks Operations 67,966 129,300 171,600 (42,300) 25,666 055 L&L-1-K Woodview Operations 160,059 21,700 22,000 (300) 159,759 060 L&L-1-N Carbon Canyon Operations 10,198 2,000 3,000 (1,000) 9,198 061 L&L-1-P Carbon Canyon Operations - 74,900 74,900 - - 062 L&L-1-T Carbon Canyon Operations 22,409 3,100 3,100 - 22,409 071 L&L-1-M Rincon Operations 48,500 1,581,900 1,630,400 (48,500) - 072 L&L-Los Serranos 24,976 33,400 26,191 7,209 32,185 073 L&L-Vellano 382,532 207,400 433,433 (226,033) 156,499 104 Sleepy Hollow Road Improvements 44,052 10,400 10,104 296 44,348 121 L&L-Los Ranchos Arterial 21,788 340,600 340,600 - 21,788 123 L&L-Woodview Arterial 1,496 9,300 9,300 - 1,496 124 L&L-Carbon Canyon Arterial 4,911 14,600 14,600 - 4,911 131 Traffic Signal Fee 186,018 - 22,129 (22,129) 163,889 132 Existing Infrastructure Fee 8,142,683 2,216,700 2,532,700 (316,000) 7,826,683 133 General City Facilities Fee 4,726,755 300,900 100 300,800 5,027,555 134 Traffic Facilities Fee 2,474,265 38,300 - 38,300 2,512,565 135 Storm Drain Facilities Fee 7,434,928 443,200 - 443,200 7,878,128 136 Traffic Impact Fee 44,250 296,900 - 296,900 341,150 140 Protected Tree Replacement (1,611) - - - (1,611) A 150 PEG Access Fee 948,395 100,000 152,500 (52,500) 895,895 184 Road Maintenance&Rehabilitation Account (268) 1,339,710 1,339,700 10 (258) A 198 Public Safety Programs 30,316 - - - 30,316 199 Miscellaneous Grant 278,036 3,095,991 3,352,090 (256,099) 21,937 504 Solid Waste - 5,311,621 5,311,621 - - 506 Sewer Facilities Fee 4,703,390 77,600 1,219,892 (1,142,292) 3,561,098 507 Water Facilities Fee 16,276,225 1,179,900 7,427,495 (6,247,595) 10,028,630 TOTAL SPECIAL REVENUE FUNDS $ 58,394,667 $ 29,551,108 $ 41,952,755 $ (12,401,647) $ 45,993,020 A-The negative beginning fund balance is due to a negative fair market value adjustment at the end of the prior fiscal year. B-The negative beginning fund balance is due to a pending reimbursement from the U.S.Department of Housing and Urban Development for expenditures that occurred in the prior fiscal year. 34/253 CITY OF CHINO HILLS CHANGES IN FUND BALANCE-BUDGET FOR THE MONTH ENDED NOVEMBER 30,2018 Projected Fund Balance Budgeted Budgeted Change in Fund Balance Fund# Fund Title 7/1/18 Revenues Expenditures Fund Balance 6/30/19 377 CFD 10 Construction $ 133,620 $ - $ - $ - $ 133,620 379 CFD 9 Capital Projects 4,862,044 476,600 2,348,705 (1,872,105) 2,989,939 399 Capital Improvement - 6,408,390 6,408,390 - - TOTAL CAPITAL PROJECT FUNDS $ 4,995,664 $ 6,884,990 $ 8,757,095 $ (1,872,105) $ 3,123,559 500 Water Utility $ 42,469,431 $ 30,555,005 $ 37,051,093 $ (6,496,088) $ 35,973,343 501 Sewer Utility 25,789,341 8,615,000 10,596,814 (1,981,814) 23,807,527 512 Water Depreciation/Rate Stabilization 7,124,811 108,000 - 108,000 7,232,811 TOTAL ENTERPRISE FUND* $ 75,383,583 $ 39,278,005 $ 47,647,907 $ (8,369,902) $ 67,013,681 551 Equipment Maintenance $ 5,066,279 $ 1,143,100 $ 940,189 $ 202,911 $ 5,269,190 552 Information Technology 1,095,557 1,856,300 2,448,696 (592,396) 503,161 TOTAL INTERNAL SERVICE FUNDS* $ 6,161,836 $ 2,999,400 $ 3,388,885 $ (389,485) $ 5,772,351 009 General Agency $ 35,454 $ - $ - $ - $ 35,454 627 CFD 1 -Rolling Ridge Operations 1,498,695 401,600 739,305 (337,705) 1,160,990 636 CFD 4-The Oaks Operations 5,384,290 161,000 2,533,578 (2,372,578) 3,011,712 640 CFD 5-Soquel Cyn,Rincon&Woodview Op. 5,709,612 3,049,500 4,298,992 (1,249,492) 4,460,120 644 CFD 6-Carbon Canyon Operations 1,569,661 266,300 407,033 (140,733) 1,428,928 647 CFD 8-Butterfield Operations 435,866 91,400 286,115 (194,715) 241,151 657 CFD 9-Rincon Village-1998 1,583,514 1,160,600 1,113,976 46,624 1,630,138 658 CFD 10-Fairfield Ranch 1,917,669 1,000,000 956,586 43,414 1,961,083 659 CFD-Vila Borba 806,864 370,000 303,767 66,233 873,097 691 Assessment District 1994 Operations 950 - - - 950 698 CFD 2-Los Ranchos Special Tax 4,563,288 1,346,700 3,546,127 (2,199,427) 2,363,861 699 RAD 10-1 564,902 309,500 295,893 13,607 578,509 TOTAL AGENCY FUNDS $ 24,070,765 $ 8,156,600 $ 14,481,372 $ (6,324,772) $ 17,745,993 GRAND TOTAL $ 215,498,012 $ 139,344,791 $ 176,908,696 $ (37,563,905) $ 177,934,107 *Long-term debt,capital assets and investment in joint venture have been removed to reflect working capital. 35/253