To: Mayor and City Council From: Charles Ozaki, City and County Manager Prepared by: Kevin Standbridge, Deputy City and County Manager

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1 To: Mayor and City Council From: Charles Ozaki, City and County Manager Prepared by: Kevin Standbridge, Deputy City and County Manager Pat Soderberg, Finance Director Joyce Alberts, Budget Manager Brenda Richey, Deputy Finance Director Valerie Price, Accounting Manager Meeting Date Agenda Category Agenda Item # November 27, 218 Manager s Report 13(b) Budget Tracking and Revenue Reports - September 218 Summary The purpose of this report is to provide a high-level monthly status update on revenues and expenditure performance compared to the adopted budget and the same period of the prior year. Attached is a summary of all financial activity for September 218. Highlights for each major fund group follow below, with additional detail and explanation in the remainder of the report. BUDGET TRACKING REPORT All Funds (Attachment 1) This report shows the September 218 revenues and expenditures grouped by each category of funds. The shaded lines noted in each fund category report the net results before other sources/uses of funds are considered. More detailed information is presented for each category of funds on the reports included as Attachments 2 through 5. General Governmental Operating Funds (Attachment 2) The ending fund balance for the General Governmental Operating Funds, as of September 218, totaled 24,657,322, which is about 11.5 million more than the budgeted amount. This is mainly because the 218 beginning balance (i.e. the 217 ending balance) is 4.5 million more than projected as well as a strong performance in 218 year-to-date revenues. Total 218 revenues for General Governmental Operating Funds year-to-date through September were 4.1% higher than the budgeted levels and 9.3% higher than 217 revenues. Most of the variance from 218 projected and 217 actual amounts is due to increases in Sales Tax, Building Use Tax, and License & Permits. Sales Tax Revenues in the General Governmental Operating Funds year-to-date were 7.1% (1,461,276) higher than 218 projections through September and 2.2% (468,34) higher than 217 actual amounts. Building Use Tax revenues were 37.3% (1,2,228) higher than projected through September 218, and 12.6% (1,92,357) more than they were for the same period in 217. Through September 218, multi-family permits issued are at 52 compared to 41 through September 217. Single family permits through September 218 are 429 compared to 25 through September 217. Total 218 operating expenses, year-to-date through September, were 4.3% (3,16,721) less than budgeted levels and 8.5% (5,583,24) more than the same period of 217. The 218 unspent budget amounts are primarily due to vacancy savings in the personnel costs and the timing of various expense payments (mainly supplies and professional services). The variance from the prior year amount is primarily due to lower personnel expenses in 217 due to the timing of payroll accruals. Utility Operating Funds (Attachment 3) Total operating revenues through September 218 are 5.6% (1,15,248) more than budgeted estimates and 11.6% (2,264,77) higher than 217. The variance from prior year is the result of (1) higher usage on the water system for the first six months of 218 compared to 217, (2) additional interest earnings, which reflects the improvement in the fixed-income investment market over the past year, and (3) other revenues in the sewer fund related to the Weld County farm property owned (revenue from leases and easements). Operating expenditures for 218 year-to-date were 19.9% (3,535,244) less than the projected budget and were 8.% (1,245,768) less than 217. The 218 budget variance is primarily due to the timing of payment for Denver Water and CBT/NCWCD water fees. Capital Funds (Attachment 4) Through September, 17.1% of the General Governmental Capital Budgets and 7.7% of the Utilities Capital Funds have been spent. These relatively low percentages are typical, given the requirement to fund the entire cost for multi-year projects before the construction contract can be signed. More detailed information on the status of selected projects currently under construction is included on the monthly Manager s Report, presented to City Council in a separate agenda item. Trust Funds (Attachment 5) Interest revenue and benefit payments for the pension plans are reported to Broomfield by the plan administrator on a quarterly basis and posted to the accounts in the month following the end of each quarter. The contributions revenue for 218 is 24.1% (3,29,36) higher than the revenue for the same period in 217. Benefit payments for the period are higher than anticipated by 33.7% (3,29,521) mostly due to higher than anticipated retirements and turnover in the police money purchase plan along with employees rolling their pensions to other qualified plans in anticipation of the change in this plan moving to FPPA. REVENUE REPORT (Attachment 6) Total Sales Tax revenues collected by both operating and capital funds through September were 4.6% higher than projected and 3.64% higher than 217. This variance differs from the one reported above for General Governmental Operating funds Sales Tax revenues. This is a factor of where the sales tax revenue is being generated and how it is allocated between operating and capital funds. Year-to-date Highway User Tax revenues in 218 reflect an additional payment of 62,456 received in August as a result of a disbursement from the state resulting from Senate Bill Year-to-date revenues for All General Governmental Operating type revenue (including transfers) were 1.48% higher than projected for 218 and 9.98% more than 217. Prior Council Action Council has received monthly financial updates at Council meetings since 29. Financial Considerations Based on the reports, actual expenditure activity for 218 fell within the budgeted amounts, at the fund level. Alternatives N/A Proposed Actions/Recommendations Staff would appreciate any comments or feedback regarding these reports. 13(b) - Page 1

2 Attachment 1 City and County of Broomfield Monthly Budget Report - All Funds September 3, 218 Total Amended Budget 218 Budget 218 Actual 218 Favorable/ (Unfavorable) variance Actual 217 Favorable/ (Unfavorable) variance General Governmental Operating Funds Operating Revenues ( 116,9,998) ( 91,319,139) 95,66, %) ( 86,945,488) 9.3%) Operating Expenditures ( (16,112,17) ( (74,99,926) ( (7,939,25) 4.3% ( (65,356,181) (8.5%) Net Operating Results ( 9,978,828) ( 17,219,213) ( 24,127,76) N/A ( 21,589,37) N/A Other Sources and Uses of Funds(net) ( (12,46,513) ( (7,27,17) ( (6,986,117).6%) ( (8,278,337) 15.6%) Net Sources/Uses of Funds (2,427,685) 1,192,16 17,14,959 N/A 13,31,97 N/A Utility Operating Funds Operating Revenues ( 28,539,977) ( 2,585,963) 21,736, %) ( 19,471,54) 11.6%) Operating Expenditures ( (24,545,843) ( (17,772,989) ( (14,237,745) 19.9%) ( (15,483,513) 8.%) Net Operating Results ( 3,994,134) ( 2,812,974) ( 7,498,466) N/A ( 3,987,991) N/A Other Sources and Uses of Funds(net) ( (15,368,566) ( (9,622,448) ( (2,43,286) 74.7%) ( (2,82,535) 13.3%) Net Sources/Uses of Funds (11,374,432) (6,89,474) 5,68,18 N/A 1,185,456 N/A General Governmental Capital Funds Annual Revenues 48,487,38 35,337,545 Annual Expenditures ( (177,295,2) ( (3,346,756) Net Before Other Sources/(Uses) of Funds ( (128,87,712) ( 4,99,789) Other Sources and Uses of Funds(net) ( 21,825,4) ( 15,1,87) Net Sources/Uses of Funds (16,982,672) 19,992,596 Utility Capital Funds Annual Revenues 32,694,45 32,179,782 Annual Expenditures ( (87,316,646) ( (6,77,823) Net Before Other Sources/(Uses) of Funds ( (54,622,241) ( 25,471,959) Other Sources and Uses of Funds(net) ( - ) ( - ) Net Sources/Uses of Funds (54,622,241) 25,471,959 Trust Funds Annual Revenues ( 27,612,752) ( 18,87,643) 17,941,375 (4.6%) ( 22,48,65) (18.6%) Annual Expenditures ( (16,626,234) ( (1,389,63) ( (13,249,467) (27.5%) ( (9,43,498) (46.5%) Net Before Other Sources/(Uses) of Funds ( 1,986,518) ( 8,418,13) ( 4,691,98) N/A ( 13,4,567) N/A Other Sources and Uses of Funds(net) ( - ) ( - ) ( - ) N/A ( - ) N/A Net Sources/Uses of Funds 1,986,518 8,418,13 4,691,98 N/A 13,4,567 N/A Total: All Funds Total Revenues 253,425,44 22,261,194 Total Expenditures ( (411,895,913) ( (135,48,996) Net Before Other Sources/(Uses) of Funds ( (158,47,473) ( 66,78,198) Other Sources and Uses of Funds(net) ( (5,95,39) ( 5,585,44) Net Sources/Uses of Funds (1) (164,42,512) 72,365,62 (1) In governmental budgeting, particularly in capital funds, it is not unusual for the total net sources/uses of funds in a given year to reflect an overall decrease (net use of funds). This is the result of planned utilization of fund balances to cover expenditure of funds for current year needs (this may include one-time operating costs for implementation of enhanced services or spending for large capital projects). For the 218 amended budget, beginning fund balances of 355,383,456 are projected to decrease 164,42,512 - as shown in the 218 Budget Column above - resulting in a projected ending fund balance of 19,962, (b) - Page 2

3 City and County of Broomfield Monthly Budget Report of General Governmental Operating Funds (Excludes Capital, Utility Enterprise and Trust Funds) September 3, 218 Amended Budget 218 Budget 218 Actual 218 Favorable/ (Unfavorable) variance 218 Budget to Actual Actual 217 Attachment 2 Favorable/ (Unfavorable) variance 218 to 217 Annual Revenues Taxes Sales Tax (including Sales Tax Audit Revenue) ( 31,11,584) ( 2,669,872) ( 22,131,148) 7.1%) ( 21,662,88) 2.2%) Property Tax ( 34,61,68) ( 34,48,186) ( 33,28,478) (3.3%) ( 31,292,15) 6.4%) Specific Ownership Tax ( 2,346,69) ( 1,615,469) ( 1,88,527) 12.%) ( 1,593,524) 13.5%) Use Tax - Building Materials ( 3,283,623) ( 2,736,748) ( 3,756,976) 37.3%) ( 1,854,619) 12.6%) Use Tax - Vehicle ( 3,495,7) ( 2,616,353) ( 2,758,83) 5.4%) ( 2,745,24).5%) Gas and Electric Tax ( 2,437,) ( 1,432,457) ( 1,439,974).5%) ( 1,42,338) 1.4%) Other Taxes ( 1,898,) ( 1,75,579) ( 1,89,942) 1.3%) ( 1,34,896) 5.3%) License and Permits ( 3,147,45) ( 2,414,919) ( 3,435,328) 42.3%) ( 2,274,71) 51.%) Intergovernmental Health and Human Services ( 1,99,61) ( 7,35,525) ( 6,533,79) (7.1%) ( 6,614,629) (1.2%) Highway User Tax/Registration Fees ( 2,367,931) ( 1,776,374) ( 2,429,38) 36.8%) ( 1,81,264) 34.2%) Other Intergovernmental ( 1,226,46) ( 784,67) ( 1,211,983) 54.5%) ( 881,929) 37.4%) Charges for Services Recreation Services ( 5,433,869) ( 4,359,47) ( 4,52,85) (7.%) ( 4,32,479) (6.2%) Internal Services ( 7,77,79) ( 5,36,927) ( 5,38,344).%) ( 4,535,22) 17.%) Other Charges for Service ( 5,11,18) ( 3,886,334) ( 3,71,277) (4.8%) ( 3,489,287) 6.1%) Investment Earnings ( 482,7) ( 314,153) ( 519,62) 65.4%) ( 391,455) 32.7%) Other Revenue ( 1,182,35) ( 886,526) ( 1,67,96) 81.4%) ( 1,23,967) 57.%) Revenues-General Government Operating Funds 116,9,998 91,319,139 95,66, %) 86,945, %) Annual Expenditures Personnel ( 68,755,926) ( 47,6,256) ( 46,825,52) 1.6%) ( 43,49,256) (7.7%) Supplies ( 5,125,338) ( 3,533,122) ( 2,981,49) 15.6%) ( 3,82,374) 3.3%) Contractual Professional Services ( 7,58,663) ( 4,98,49) ( 4,268,216) 14.3%) ( 2,974,396) (43.5%) District Attorney Services ( 2,18,248) ( 1,581,186) ( 1,817,89) (15.%) ( 1,522,985) (19.4%) Community Based Organizations ( 1,556,63) ( 1,163,73) ( 958,54) 17.6%) ( 945,85) (1.4%) Insurance ( 2,182,24) ( 1,894,119) ( 2,175,12) (14.8%) ( 1,589,23) (36.9%) Utilities ( 4,895,1) ( 3,475,948) ( 3,16,173) 9.1%) ( 3,129,76) (1.%) Repair and Maintenance ( 5,368,47) ( 4,5,477) ( 3,53,957) 12.5%) ( 3,354,124) (4.5%) Other - Training; Printing; Postage; Dues; Rental ( 2,779,119) ( 2,28,611) ( 1,542,697) 24.%) ( 1,431,693) (7.8%) Operating Equipment ( 814,33) ( 336,) ( 278,639) 17.1%) ( 59,712) 45.3%) Human Services Client Benefits ( 5,468,52) ( 3,51,725) ( 3,427,251) 2.1%) ( 3,326,647) (3.%) Expenditures-General Government Operating Funds 16,112,17 74,99,926 7,939,25 4.3%) 65,356,181 (8.5%) Net Operating Results - Over/(Under) 9,978,828 17,219,213 24,127,76 N/A 21,589,37 N/A Other Sources/(Uses) of Funds Capital Funds - Transfers Out ( (5,851,998) ( (4,389,3) ( (4,389,3).%) ( (5,729,769) 23.4%) Debt/Lease Payments ( (3,941,531) ( (986,95) ( (747,18) 24.3%) ( (1,24,718) 27.1%) Contribution to Benefit Plans ( (1,651,199) ( (1,651,199) ( (1,849,934) (12.%) ( (1,523,85) (21.4%) Transfers to Reserves ( (1,31,785) ( -) ( - ) N/A ( -) N/A Transfers from Reserves ( 7,) ( -) ( - ) N/A ( -) N/A Subtotal Other Sources/(Uses) of Funds (12,46,513) (7,27,17) (6,986,117).6%) (8,278,337) 15.6%) Net Sources/ (Uses) of Funds (2,427,685) 1,192,16 17,14,959 N/A 13,31,97 N/A Beginning Fund Balance (does not include Reserves) 2,988,45 2,988,45 7,516,363 N/A 6,384,78 N/A Ending Fund Balance (does not include Reserves) 56,765 13,18,556 24,657,322 N/A 19,695,48 N/A 13(b) - Page 3

4 Attachment 3 City and County of Broomfield Monthly Budget Report of Utilities Operating Funds September 3, 218 Amended Budget 218 Budget 218 Actual 218 Favorable/ (Unfavorable) variance 218 Budget to Actual Actual 217 Favorable/ (Unfavorable) variance 218 to 217 Annual Revenues Charges for Services ( 26,988,927) ( 19,646,931) ( 19,628,174) (.1%) ( 18,544,169) 5.8%) Intergovernmental ( 299,7) ( - ) ( -) N/A ( - ) N/A Environmental Compliance Fee (ECF) ( 757,82) ( 568,365) ( 565,29) (.5%) ( 554,651) 1.9%) Other (Interest, Contributions, Fees) ( 494,223) ( 37,667) ( 1,542,747) 316.2%) ( 372,684) 314.%) Operating Revenues - Utilities Funds 28,539,977 2,585,963 21,736, %) 19,471, %) Annual Operating Expenditures Personnel ( 6,2,299) ( 4,292,515) ( 4,124,551) 3.9%) ( 3,949,794) (4.4%) Supplies Chemicals ( 85,25) ( 597,64) ( 644,782) (8.%) (487,698) (32.2%) Equipment (less than 5,) ( 486,133) ( 163,536) ( 248,751) (52.1%) ( 233,26) (6.6%) Other Supplies ( 573,889) ( 46,367) ( 284,119) 3.1%) (341,789) 16.9%) Contractual Contractual Services ( 976,415) ( 628,795) ( 624,581).7%) ( 596,534) (4.7%) Denver Water ( 6,628,749) ( 4,89,449) ( 3,335,742) 31.8%) ( 4,474,144) 25.4%) Water Fees - CBT/NCWCD ( 1,972,234) ( 1,972,234) ( 552,95) 72.%) ( 1,136,692) 51.4%) Repair and Maintenance ( 479,938) ( 375,4) ( 165,886) 55.8%) (212,5) 21.9%) Insurance ( 623,88) ( 227,243) ( 198,255) 12.8%) (155,318) (27.6%) Utilities ( 1,6,648) ( 1,13,691) ( 1,19,581) 7.6%) (1,65,583) 4.3%) Services Rendered - General Fund ( 3,837,8) ( 2,877,81) ( 2,877,813) (.%) (2,66,22) (8.2%) Other - Training; Printing; Postage; Dues; Rental ( 317,345) ( 237,885) ( 16,734) 32.4%) (169,999) 5.5%) Operating Expenditures - Utilities Funds 24,545,843 17,772,989 14,237, %) 15,483,513 8.%) Net Operating Results - Over/(Under) 3,994,134 2,812,974 7,498,466 N/A 3,987,991 N/A Other Sources/(Uses) of Funds Operating Equipment (greater than 5,) ( (28,) ( -) ( (13,462) N/A ( (23,383) 42.4%) Operating Capital Water Operating Capital Repair and Maintenance ( (6,457,199) ( (3,556,377) ( (333,321) 9.6%) ( (613,21) 45.6%) Sewer Operating Capital Repair and Maintenance ( (7,366,39) ( (4,577,254) ( (719,4) 84.3%) ( (1,156,885) 37.8%) Reuse Water Operating Capital Repair and Maintenance ( (836,68) ( (433,36) ( (363,816) 16.%) ( (47,239) (67.2%) Transfers to Operating Reserves ( (11,653) ( -) ( (11,653) N/A ( -) N/A Transfers from ECF Reserves ( 98,) ( -) ( 3,712) N/A ( -) N/A Transfers to ECF Reserves ( (757,82) ( (568,365) ( (565,29).5%) ( (554,651) (1.9%) Transfers to Defined Benefit Pension Plan ( (38,52) ( (38,52) ( (347,16) 8.8%) ( (35,55) (13.6%) Debt Service Payment ( (511,267) ( (16,896) ( (16,896).%) ( (11,86) (5.%) Subtotal Other Sources/(Uses) of Funds (15,368,566) (9,622,448) (2,43,286) 74.7%) (2,82,535) 13.3%) Net Sources /(Uses) of Funds (11,374,432) (6,89,474) 5,68,18 N/A 1,185,456 N/A Beginning Fund Balance (does not include Reserves) 3,19,757 3,19,757 3,187,463 N/A 29,374,671 N/A Ending Fund Balance (does not include Reserves) 18,816,325 23,381,283 35,255,643 N/A 3,56,127 N/A 13(b) - Page 4

5 Attachment 4 City and County of Broomfield General Governmental and Utility Capital Funds September 3, 218 General Governmental Funds Utilities Funds Amended Budget 218 Actual 218 Actual as a % of Budget Amended Budget 218 Actual 218 Actual as a % of Budget Annual Revenues Taxes ( 4,461,682) ( 32,953,43) 81.4%) ( -) ( -) N/A Intergovernmental ( 4,673,8) ( 494,258) 1.6%) ( 229,35) ( 22,95) 96.1%) Charges for Services ( -) ( -) N/A ( 31,26,793) ( 3,42,38) 98.%) Other (Interest, Contributions, Fees) ( 3,351,826) ( 1,889,857) 56.4%) ( 1,438,577) ( 1,539,37) 17.%) Total Annual Revenues 48,487,38 35,337, %) 32,694,45 32,179, %) Capital Expenditures Capital Improvement Program Projects Building & Facilities ( 25,458,477) ( 1,155,591) 4.5%) ( -) ( -) N/A Drainage & Stormwater ( 178,8) ( 14,127) 7.9%) ( -) ( -) N/A Community Development ( 7,96,428) ( 3,176,328) 4.2%) ( -) ( -) N/A Information Technology ( 4,868,726) ( 1,39,719) 21.4%) ( -) ( -) N/A Landscaping ( 86,968) ( 335,187) 38.9%) ( -) ( -) N/A Open Space Acquisition & Improvement ( 1,433,587) ( 373,941) 26.1%) ( -) ( -) N/A Parks & Recreation ( 47,543,949) ( 8,683,879) 18.3%) ( -) ( -) N/A Planning & Miscellaneous ( 884,414) ( 561,987) 63.5%) ( -) ( -) N/A Public Art & Culture ( 499,883) ( 81,177) 16.2%) ( -) ( -) N/A Trail Improvements ( 4,989,942) ( 259,749) 5.2%) ( -) ( -) N/A Transportation ( 63,413,78) ( 9,25,86) 14.5%) ( -) ( -) N/A Vehicle & Equipment ( 1,872,323) ( 866,854) 46.3%) ( -) ( -) N/A Utility Funds Projects Water Fund Projects ( -) ( -) N/A ( 35,563,638) ( 3,756,574) 1.6%) Sewer Fund Projects ( -) ( -) N/A ( 41,369,654) ( 1,25,253) 2.9%) Reuse Fund Projects ( -) ( -) N/A ( 1,345,158) ( 664,11) 49.4%) Lease Payments - General Governmental Funds ( 3,739,97) ( 276,195) 7.4%) ( -) ( -) N/A Debt Service on Bonds- General Governmental Funds ( 13,643,98) ( 3,769,778) 27.6%) ( -) ( -) N/A Debt Service on Bonds - Utilities Funds ( -) ( -) N/A ( 9,38,196) ( 1,81,985) 12.%) Total Capital Expenditures 177,295,2 3,346, %) 87,316,646 6,77, %) Net Before Other Sources/(Uses) of Funds (128,87,712) 4,99,789 N/A (54,622,241) 25,471,959 N/A Other Sources/(Uses) of Funds Transfers to Reserves ( (7,921,545) ( (5,97,945) 74.6%) ( -) ( -) N/A Transfers from Reserves ( 23,894,587) ( 16,576,263) 69.4%) ( -) ( -) N/A Interfund Transfers In ( 5,851,998) ( 4,333,489) 74.1%) ( -) ( -) N/A Subtotal Other Sources/(Uses) of Funds 21,825,4 15,1, %) ( -) ( -) N/A Net Annual Activity (16,982,672) 19,992,596 N/A (54,622,241) 25,471,959 N/A Beginning Balance, in excess of Reserves 12,716,284 12,44,498 N/A 8,744,771 8,744,988 N/A Ending Fund Balance (does not include Reserves) 13,733,612 14,433,94 N/A 26,122,53 16,216,947 N/A Ending Balance by Fund Budget Actual Budget Actual Sale & Use Tax Capital Improvement Fund (CIP) 1,648,576 18,166,123 Asset Replacement Fund ( 3,5,567) ( 7,21,31) Conservation Trust Fund (Lottery Funds) ( 56,694) ( 1,542,474) Open Space and Parks Fund ( 879,317) ( 6,778,554) Service Expansion Fee Fund (SEF) ( 6,231,847) ( 11,176,296) Development Agreement Fund ( 1,145,176) ( 5,244,4) Debt Service Fund ( 262,435) ( 324,333) Utilities Funds 26,122,53 16,216,947 Total Ending Fund Balance 13,733,612 14,433,94 26,122,53 16,216,947 Note 1. The ending fund balance does not include reserve amounts that have been earmarked for specific uses. The projected ending reserve balance, as of December 218, held in the Governmental Capital Funds are estimated to be: 1,179,977 Facilities Improvements; 4,827,632 Asset Protection; 313,684 Open Space- Markel Parcel 4; CIP Fund - Debt Sinking Fund 11,148,317 and 13,699,77 Debt Service Reserves. The projected Debt Service Reserves held in the Utility Funds as of December 218 equal 38,151, (b) - Page 5

6 Attachment 5 City and County of Broomfield Monthly Budget Report - Trust Funds September 3, 218 Original Budget 218 Budget 218 Actual 218 Favorable/ (Unfavorable) variance 218 Budget to Actual Actual 217 Favorable/ (Unfavorable) variance 218 to 217 Annual Revenues Contributions ( 18,861,715) ( 14,348,434) ( 15,64,646) 8.8%) (12,575,34) 24.1%) Other (Interest and Other Fees) ( 8,751,37) ( 4,459,29) ( 2,336,729) (47.6%) (9,472,725) (75.3%) Revenues 27,612,752 18,87,643 17,941,375 (4.6%) 22,48,65 (18.6%) Annual Operating Expenditures Benefit Payments ( 14,672,26) ( 8,994,317) ( 12,23,838) (33.7%) (7,889,862) (52.4%) Insurance ( 1,138,629) ( 853,972) ( 783,444) 8.3%) (715,211) (9.5%) Administrative & Other ( 815,399) ( 541,341) ( 442,185) 18.3%) (438,425) (.9%) Operating Expenditures 16,626,234 1,389,63 13,249,467 (27.5%) 9,43,498 (46.5%) Net Sources/ (Uses) of Funds 1,986,518 8,418,13 4,691,98 N/A 13,4,567 N/A Beginning Fund Balance (does not include Reserves) 12,742,977 12,742, ,64,159 N/A 18,354,621 N/A Ending Fund Balance (does not include Reserves) 131,729, ,16,99 133,756,67 N/A 121,359,188 N/A Ending Balance by Fund 218 Budget Budget 218 Actual 217 Actual Employee Medical Care Plan 2,237,131 3,252,691 5,77,77 3,471,792 General Employee Pension Retirement Plan ( 1,695,638) (1,716,123) ( 11,21,85) ( 1,669,374) General Employee Money Purchase Retirement Plan* ( 65,616,555) (63,869,412) ( 66,256,58) ( 59,767,911) Police Employee Defined Pension Retirement Plan ( 19,674) (43,89) ( 64,711) ( 61,437) Police Employee Money Purchase Retirement Plan* ( 5,675,883) (48,934,46) ( 48,837,782) ( 45,446,51) Retiree Health Savings ( 2,484,614) ( 2,344,497) ( 2,498,661) ( 1,942,164) Total Ending Fund Balance 131,729, ,16, ,756,67 121,359,188 * The Money Purchase plans are defined contribution retirement plans. The amounts held in these funds are employee retirement accounts held in trust. 13(b) - Page 6

7 Attachment 6 City and County of Broomfield Financial Report Revenue Tracking System Report #218-9 for September, 218 Prepared by the Broomfield Finance Department 13(b) - Page 7

8 Table 1 Sales Tax Revenues - Total Operating and Capital September Original 218 Budget Estimate 58,429,95 Current Projected 218 Revenues Based on Revenues Received To-Date 61,115,461 2,686,366 Actual - % Above (Below) Budget Estimate 4.6% 1,, Sales Tax Revenues- Month to Month 9,, 8,, 7,, 6,, 5,, 4,, 3,, 2,, 1,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 7,, Sales Tax Revenue- Total to Date 6,, 5,, 4,, 3,, 2,, 1,, Actual 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 8

9 Table 2 Use Tax on Vehicles September Original 218 Budget Estimate 6,33,145 Current Projected 218 Revenues Based on Revenues Received To-Date 6,349,62 316,457 Actual - % Above (Below) Budget Estimate 5.25% 7, Use Tax on Vehicles- Month to Month 6, 5, 4, 3, 2, 1, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual Use Tax on Vehicles- Total to Date 7,, 6,, 5,, 4,, 3,, 2,, 1,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 9

10 September Table 3 Use Tax on Building Materials Original 218 Budget Estimate 7,234,175 Current Projected 218 Revenues Based on Revenues Received To-Date 9,652,686 Actual - % Above (Below) Budget Estimate 2,418, % 3,5, Use Tax on Building Materials- Month to Date 3,, 2,5, 2,, 1,5, 1,, 5, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 9,, Use Tax on Building Materials- Total to Date 8,, 7,, 6,, 214 Data 5,, 4,, 3,, 2,, 1,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual * Monthly collections have not shown a repeatable pattern. The 218 monthly budget estimates for residential and add-on construction were projected as if revenues are received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit. 13(b) - Page 1

11 September Table 4 Property Tax Revenue Original 218 Budget Estimate 39,347,195 Current Projected 218 Revenues Based on Revenues Received To-Date 39,347,195 Actual - % Above (Below) Budget Estimate -.% 16,, Property Tax- Month to Month 14,, 12,, 1,, 8,, 6,, 4,, 2,, -2,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 45,, Property Tax- Total to Date 4,, 214 Data 35,, 3,, 25,, 2,, 15,, 1,, 5,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual * The first property tax collections occur in February of each year. * Negative amounts reflect abatements. * The revenues associated with Property Taxes are set each year by assessed valuation and mill levies. The total amount projected on an annual basis should remain at the original budgeted 13(b) - Page 11

12 September Building Permit Fees Original 218 Budget Estimate 2,713,97 Current Projected 218 Revenues Based on Revenues Received To-Date 3,568,58 854,61 Actual - % Above (Below) Budget Estimate 31.49% 1,2, Building Permit Fees- Month to Date 1,, 8, 6, 4, 2, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 3,5, Building Permit Fees- Total to Date 3,, 214 Data 2,5, 2,, 214 Data 1,5, 1,, 5, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual * Modified Cash Basis. 13(b) - Page 12

13 Table 6 Highway Users' Tax September Original 218 Budget Estimate 2,137,931 Current Projected 218 Revenues Based on Revenues Received To-Date 2,992, ,197 Actual - % Above (Below) Budget Estimate 39.95% 9, Highway Users' Tax Month to Month 8, 7, 6, 5, 4, 3, 2, 1, 215 Actual 216 Actual 216 Actual 218 Projection 218 Actual Highway Users' Tax- Total to Date 2,5, 2,, 1,5, 1,, 5, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual *62,456 received in August for July payment of SB 18-1 allocation. 13(b) - Page 13

14 September Table 7 All General Operating Governmental Type Revenues Original 218 Budget Estimate 127,665,823 Revised 218 Budget Estimate 128,311,674 Current Projected 218 Revenues Based on Revenues Received To-Date 13,214,743 1,93,69 Actual - % Above (Below) Budget Estimate 1.48% 25,, All General Governmental Type Revenues- Month to Month 2,, 15,, 1,, 5,, 215 Actual 216 Actual 217 Actual 218Projection 218 Actual 14,, All General Governmental Type Revenues- Total to Date 12,, 1,, 8,, 6,, 4,, 2,, 215 Actual 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 14

15 Table 8 Water Sales Revenue September Original 218 Budget Estimate 17,327,432 Current Projected 218 Revenues Based on Revenues Received To-Date 16,841,727 (485,75) Actual - % Above (Below) Budget Estimate (2.8%) 3,, Water Sales Revenue- Month to Month 2,5, 2,, 1,5, 1,, 5, Actual 216 Actual 217 Actual 218 Projection 218 Actual 2,, Water Sales Revenue- Total to Date 214 Data 18,, 16,, 14,, 12,, 1,, 8,, 6,, 4,, 2,, Actual 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 15

16 September Table 9 Water License Fees Revenue Original 218 Budget Estimate 17,76,296 Current Projected 218 Revenues Based on Revenues Received To-Date 22,612,69 4,852,394 Actual - % Above (Below) Budget Estimate 27.32% 4,, Water License Fees- Month to Month 3,5, 3,, 2,5, 2,, 1,5, 1,, 5, Actual 216 Actual 217 Actual 218 Projection 218 Actual 2,, Water License Fees- Total to Date 18,, 16,, 214 Data 14,, 12,, 1,, 8,, 6,, 4,, 2,, Actual 216 Actual 217 Actual 218 Projection 218 Actual * Modified Cash Basis. * Monthly collections have not shown a repeatable pattern. The 218 monthly budget estimates for residential and add-on construction were projected as if revenues are received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit. 13(b) - Page 16

17 Table 1 Sewer Charges Revenue September Original 218 Budget Estimate 6,568,32 Current Projected 218 Revenues Based on Revenues Received To-Date 6,74, ,844 Actual - % Above (Below) Budget Estimate 2.7% 1,2, Sewer Charges Revenue- Month to Month 1,, 8, 6, 4, 2, 216 Actual 217 Actual 218 Projection 218 Actual 7,, Sewer Charges Revenue- Total to Date 214 Data 6,, 5,, 4,, 3,, 2,, 1,, 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 17

18 September Table 11 Sewer License Fees Original 218 Budget Estimate 12,48,677 Current Projected 218 Revenues Based on Revenues Received To-Date 15,76,529 3,225,852 Actual - % Above (Below) Budget Estimate 25.85% 4,, Sewer License Fees- Month to Month 3,5, 3,, 2,5, 2,, 1,5, 1,, 5, 216 Actual 217 Actual 218 Projection 218 Actual 14,, Sewer License Fees- Total to Date 12,, 214 Data 1,, 8,, 6,, 4,, 2,, 216 Actual 217 Actual 218 Projection 218 Actual * Modified Cash Basis. * Monthly collections have not shown a repeatable pattern. The 218 monthly budget estimates for residential and add-on construction were projected as if revenues are received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit. 13(b) - Page 18

19 September Table 12 Enterprise Funds Revenues Original 218 Budget Estimate 63,88,75 Revised 218 Budget Estimate 63,616,792 Current Projected 218 Revenues Based on Revenues Received To-Date 72,532,7 8,915,215 Actual - % Above (Below) Budget Estimate 14.1% 12,, Enterprise Funds- Month to Month 1,, 8,, 6,, 4,, 2,, 216 Actual 217 Actual 218 Projection 218 Actual 7,, 6,, Enterprise Funds- Total to Date 214 Data 5,, 4,, 3,, 2,, 1,, 216 Actual 217 Actual 218 Projection 218 Actual 13(b) - Page 19