BUDGET TRACKING REPORT

Transcription

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 Valerie Price, Accounting Manager Meeting Date Agenda Category Agenda Item # March 13, 218 Manager s Report 13(a) Budget Tracking and Revenue Reports - December 217 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 December 217. 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 December 217 and unauduted end of year 217 revenues and expenditures grouped by each category of funds. The shaded lines noted in each fund cate gory report the net results before other sources/uses of funds associated with each fund grouping are considered. More detailed information is presented for each category of funds, based mainly on sources of revenue, 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 December 217, totaled 7,455,658 which is about 4.7 million more than the budgeted amount. This is partially due to the fact that the expenditures through December 217 are 6. million below the budgeted amount. Total 217 revenues for General Governmental Operating Funds year-to-date through December were 1.5% lower than the budgeted levels and 4.7% more than 216 revenues. Most of the variance from 216 amounts is increases in specific ownership taxes, intergovernmental HHS revenues and charges for services for internal services. The 217 budget variance is mainly due to less than projected sales tax revenue, building use taxes, and intergovernmental revenue. Even though total sales tax revenues collected in 217 were within.3% (18,922) of the budgeted amounts (as noted in the first bullet point for the REVENUE REPORT - Attachment 6 below) the allocation of those revenues between operating and capital funds were not as expected. Sales tax revenues in the Capital Funds exceeded budgeted amounts by approximately the same amount that those revenues were under budget in the Operating Funds. Sales tax revenues in the General Governmental Operating Funds year-to-date were 6.2% (1,86,63) less than 217 projections through December and 1.1% (37,283) less than 216 actual amounts. The reduction from the prior year is mainly the result of less audit revenues received in 217 as compared to the prior year. Building Use Tax revenues were 11.7% (378,91) lower than projected through December 217, and 7.% (187,283) more than they were for the same period in 216. This is reflective of the lower than forcasted number of building permits purchased to date in 217. Total 217 operating expenses, year-to-date through December, were 6.1% (6,17,818) less than budgeted levels and 2.3% (2,69,41) more than the same period of 216. The 217 unspent budget amounts are primarily to due lower than expected personnel costs (vacancy savings), professional services, and repair and maintenance. Utility Operating Funds (Attachment 3) Total operating revenues through December 217 are 2.2% (613,41) less than budgeted estimates and 2.1% (56,481) higher than 216. Operating expenditures for 217 year-to-date were 7.5% (1,747,99) less than the projected budget and were 1.1% (232,187) higher than 216. The 217 budget variance is primarily due to lower than expected Denver Water and Northern Colorado Water Conservancy District fees and the timing of FEMA grant related expenditures. Capital Funds (Attachment 4) Through December, 29.6% of the General Governmental Capital Budgets and 52.5% 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. Revenue from investment income in the trust funds are 41.5% over budgeted amounts due to the current robust equity market. REVENUE REPORT (Attachment 6) Total Sales Tax revenues collected by both operating and capital funds through December were.3% (18,922) less than projected and 3.53% (1,928,728) higher than 216. 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 operations and capital funds. Year-to-date revenues for All General Governmental Operating type revenue (including transfers) were 3.55% lower than projected for 217 and 3.18% more than 216. Building Use Tax revenues and permit fees were lower than projected for 217 year to date. This is reflective of the lower than anticipated construction activity in 217. Sewer License fee revenues are 23.87% less than projected 217 year to date. This is due to lower than anticipated new construction. Prior Council Action Council has received monthly financial updates at Council meetings since 29. Financial Considerations Based on the reports, actual expenditure activity for 217 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(a) - Page 1

2 Attachment 1 City and County of Broomfield Monthly Budget Report - All Funds December 31, 217 (unaudited) Total Amended Budget 217 Budget 217 Actual 217 Favorable/ (Unfavorable) variance Actual 216 Favorable/ (Unfavorable) variance General Governmental Operating Funds Operating Revenues ( 111,174,964) ( 111,174,964) 19,484,546 (1.5%) ( 14,595,685) 4.7%) Operating Expenditures ( (98,966,573) ( (98,966,573) ( (92,948,755) 6.1% ( (9,879,354) (2.3%) Net Operating Results ( 12,28,391) ( 12,28,391) ( 16,535,791) N/A ( 13,716,331) N/A Other Sources and Uses of Funds(net) ( (15,84,149) ( (15,84,149) ( (15,464,211) 2.2%) ( (14,785,14) (4.6%) Net Sources/Uses of Funds (3,595,758) (3,595,758) 1,71,58 N/A (1,68,683) N/A Utility Operating Funds Operating Revenues ( 27,635,231) ( 27,635,231) 27,21,821 (2.2%) ( 26,461,34) 2.1%) Operating Expenditures ( (23,233,449) ( (23,233,449) ( (21,485,54) 7.5%) ( (21,253,353) (1.1%) Net Operating Results ( 4,41,782) ( 4,41,782) ( 5,536,281) N/A ( 5,27,987) N/A Other Sources and Uses of Funds(net) ( (8,326,493) ( (8,326,493) ( (4,728,594) 43.2%) ( (4,54,66) (4.2%) Net Sources/Uses of Funds (3,924,711) (3,924,711) 87,687 N/A 667,921 N/A General Governmental Capital Funds Annual Revenues 46,855,651 42,768,317 Annual Expenditures ( (156,597,886) ( (46,347,37) Net Before Other Sources/(Uses) of Funds ( (19,742,235) ( (3,579,53) Other Sources and Uses of Funds(net) ( 68,75,669) ( 67,826,836) Net Sources/Uses of Funds (41,36,566) 64,247,783 Utility Capital Funds Annual Revenues 26,932,661 25,871,66 Annual Expenditures ( (44,147,617) ( (23,184,451) Net Before Other Sources/(Uses) of Funds ( (17,214,956) ( 2,687,155) Other Sources and Uses of Funds(net) ( (6,71,263) ( (6,69,856) Net Sources/Uses of Funds (23,286,219) (3,382,71) Trust Funds Annual Revenues ( 25,682,635) ( 25,682,635) 36,338, %) ( 23,959,5) 51.7%) Annual Expenditures ( (13,294,284) ( (13,294,284) ( (15,843,686) (19.2%) ( (16,829,836) 5.9%) Net Before Other Sources/(Uses) of Funds ( 12,388,351) ( 12,388,351) ( 2,495,15) N/A ( 7,129,214) N/A Other Sources and Uses of Funds(net) ( - ) ( - ) ( - ) N/A ( - ) N/A Net Sources/Uses of Funds 12,388,351 12,388,351 2,495,15 N/A 7,129,214 N/A Total: All Funds Total Revenues 238,281, ,485,126 Total Expenditures ( (336,239,89) ( (199,89,82) Net Before Other Sources/(Uses) of Funds ( (97,958,667) ( 41,675,324) Other Sources and Uses of Funds(net) ( 38,53,764) ( 41,564,175) Net Sources/Uses of Funds (1) (59,454,93) 83,239,499 (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 217 amended budget, beginning fund balances of 286,214,537 are projected to decrease 59,454,93 - as shown in the 217 Amended Budget Column above - resulting in a projected ending fund balance of 226,759,634. Actual (unaudited) 217 activity resulted in an 83,239,499 increase in fund balances - with ending fund balance totaling 369,454,31. The majority of this increase over the budgeted amount is in the General Governmental Capital Funds and mainly represents unspent bond funds for the Broomfield Community Center and Dillon Road projects. 13(a) - Page 2

3 City and County of Broomfield Monthly Budget Report of General Governmental Operating Funds (Excludes Capital, Utility Enterprise and Trust Funds) December 31, 217 (unaudited) Amended Budget 217 Budget 217 Actual 217 Favorable/ (Unfavorable) variance 217 Budget to Actual Actual 216 Attachment 2 Favorable/ (Unfavorable) variance 217 to 216 Annual Revenues Taxes Sales Tax (including Sales Tax Audit Revenue) ( 3,131,956) ( 3,131,956) ( 28,271,326) (6.2%) ( 28,578,69) (1.1%) Property Tax ( 31,352,29) ( 31,352,29) ( 3,94,91) (1.3%) ( 3,638,62) 1.%) Specific Ownership Tax ( 2,15,956) ( 2,15,956) ( 2,942,2) 36.8%) ( 2,81,55) 41.3%) Use Tax - Building Materials ( 3,247,615) ( 3,247,615) ( 2,868,714) (11.7%) ( 2,681,431) 7.%) Use Tax - Vehicle ( 3,438,86) ( 3,438,86) ( 3,674,762) 6.9%) ( 3,375,899) 8.9%) Gas and Electric Tax ( 2,39,) ( 2,39,) ( 2,38,313) (.4%) ( 2,32,16) 2.6%) Other Taxes ( 1,86,) ( 1,86,) ( 1,817,158) (2.3%) ( 1,766,458) 2.9%) License and Permits ( 3,488,75) ( 3,488,75) ( 3,227,716) (7.5%) ( 3,115,565) 3.6%) Intergovernmental Health and Human Services ( 1,846,653) ( 1,846,653) ( 1,279,439) (5.2%) ( 9,295,1) 1.6%) Highway User Tax/Registration Fees ( 2,419,646) ( 2,419,646) ( 2,387,977) (1.3%) ( 2,31,153) 3.4%) Other Intergovernmental ( 1,323,381) ( 1,323,381) ( 1,468,75) 1.9%) ( 1,363,298) 7.7%) Charges for Services Recreation Services ( 5,477,793) ( 5,477,793) ( 5,977,828) 9.1%) ( 5,621,14) 6.3%) Internal Services ( 6,479,89) ( 6,479,89) ( 6,462,5) (.3%) ( 5,314,343) 21.6%) Other Charges for Service ( 4,962,889) ( 4,962,889) ( 4,544,17) (8.4%) ( 4,42,313) 3.2%) Investment Earnings ( 489,7) ( 489,7) ( 578,72) 18.2%) ( 453,232) 27.7%) Other Revenue ( 1,114,63) ( 1,114,63) ( 1,662,918) 49.2%) ( 1,278,48) 3.1%) Revenues-General Government Operating Funds 111,174, ,174,964 19,484,546 (1.5%) 14,595, %) Annual Expenditures Personnel ( 64,48,516) ( 64,48,516) ( 62,866,278) 2.5%) ( 62,175,798) (1.1%) Supplies ( 5,117,192) ( 5,117,192) ( 4,343,931) 15.1%) ( 4,33,385) (.9%) Contractual Professional Services ( 5,263,823) ( 5,263,823) ( 4,71,341) 22.7%) ( 4,258,748) 4.4%) District Attorney Services ( 1,875,) ( 1,875,) ( 2,3,647) (8.3%) ( 1,874,457) (8.3%) Community Based Organizations ( 1,486,392) ( 1,486,392) ( 1,383,829) 6.9%) ( 1,438,933) 3.8%) Insurance ( 2,19,298) ( 2,19,298) ( 1,839,7) 12.8%) ( 1,711,138) (7.5%) Utilities ( 4,824,856) ( 4,824,856) ( 4,269,447) 11.5%) ( 4,247,879) (.5%) Repair and Maintenance ( 5,277,87) ( 5,277,87) ( 4,312,764) 18.3%) ( 3,887,233) (1.9%) Other - Training; Printing; Postage; Dues; Rental ( 2,512,573) ( 2,512,573) ( 2,17,766) 19.7%) ( 1,92,759) (6.%) Operating Equipment ( 872,956) ( 872,956) ( 75,245) 14.1%) ( 654,55) (14.6%) Human Services Client Benefits ( 5,146,97) ( 5,146,97) ( 5,63,437) 1.6%) ( 4,424,474) (14.4%) Expenditures-General Government Operating Funds 98,966,573 98,966,573 92,948, %) 9,879,354 (2.3%) Net Operating Results - Over/(Under) 12,28,391 12,28,391 16,535,791 N/A 13,716,331 N/A Other Sources/(Uses) of Funds Capital Funds - Transfers Out ( (9,532,419) ( (9,532,419) ( (9,532,42) (.%) ( (9,538,474).1%) Debt/Lease Payments ( (3,941,888) ( (3,941,888) ( (3,656,763) 7.2%) ( (3,94,243) 6.3%) Contribution to Benefit Plans ( (1,548,99) ( (1,548,99) ( (1,523,85) 1.6%) ( (1,364,98) (11.6%) Transfers to Reserves ( (85,852) ( (85,852) ( (893,478) (5.%) ( (219,271) (37.5%) Transfers from Reserves ( 7,) ( 7,) ( 142,3) 13.3%) ( 241,882) (41.2%) Subtotal Other Sources/(Uses) of Funds (15,84,149) (15,84,149) (15,464,211) 2.2%) (14,785,14) (4.6%) Net Sources/ (Uses) of Funds (3,595,758) (3,595,758) 1,71,58 N/A (1,68,683) N/A Beginning Fund Balance (does not include Reserves) 6,384,78 6,384,78 6,384,78 N/A 7,452,761 N/A Ending Fund Balance (does not include Reserves) 2,788,32 2,788,32 7,455,658 N/A 6,384,78 N/A 13(a) - Page 3

4 Attachment 3 City and County of Broomfield Monthly Budget Report of Utilities Operating Funds December 31, 217 (unaudited) Amended Budget 217 Budget 217 Actual 217 Favorable/ (Unfavorable) variance 217 Budget to Actual Actual 216 Favorable/ (Unfavorable) variance 217 to 216 Annual Revenues Charges for Services ( 26,158,46) ( 26,158,46) ( 25,16,933) (4.%) ( 24,91,237).8%) Intergovernmental ( 257,738) ( 257,738) ( 1,737) (99.3%) ( 28,88) (94.%) Environmental Compliance Fee (ECF) ( 734,65) ( 734,65) ( 742,611) 1.1%) ( 716,167) 3.7%) Other (Interest, Contributions, Fees) ( 484,437) ( 484,437) ( 1,17,54) 141.6%) ( 86,128) 45.2%) Operating Revenues - Utilities Funds 27,635,231 27,635,231 27,21,821 (2.2%) 26,461,34 2.1%) Annual Operating Expenditures Personnel ( 5,858,16) ( 5,858,16) ( 5,679,94) 3.1%) ( 5,798,531) 2.1%) Supplies Chemicals ( 834,145) ( 834,145) ( 711,284) 14.7%) (719,715) 1.2%) Equipment (less then 5,) ( 477,215) ( 477,215) ( 457,836) 4.1%) ( 481,473) 4.9%) Other Supplies ( 539,879) ( 539,879) ( 462,587) 14.3%) (435,36) (6.3%) Contractual Contractual Services ( 972,381) ( 972,381) ( 963,752).9%) ( 893,829) (7.8%) Denver Water ( 6,652,917) ( 6,652,917) ( 6,268,4) 5.8%) ( 6,369,939) 1.6%) Water Fees - CBT/NCWCD ( 1,369,259) ( 1,369,259) ( 1,136,692) 17.%) ( 1,117,485) (1.7%) Repair and Maintenance ( 417,59) ( 417,59) ( 282,27) 32.4%) (212,186) (32.9%) Insurance ( 79,56) ( 79,56) ( 187,334) 73.6%) (257,4) 27.1%) Utilities ( 1,541,525) ( 1,541,525) ( 1,588,612) (3.1%) (1,435,357) (1.7%) Services Rendered - General Fund ( 3,547,64) ( 3,547,64) ( 3,53,25).5%) (3,314,343) (6.5%) Other - Training; Printing; Postage; Dues; Rental ( 314,267) ( 314,267) ( 218,32) 3.6%) (218,131).%) Operating Expenditures - Utilities Funds 23,233,449 23,233,449 21,485,54 7.5%) 21,253,353 (1.1%) Net Operating Results - Over/(Under) 4,41,782 4,41,782 5,536,281 N/A 5,27,987 N/A Other Sources/(Uses) of Funds Operating Equipment (greater than 5,) ( (23,) ( (23,) ( (23,383) (1.7%) ( (63,565) 63.2%) Operating Capital Water Operating Capital Repair and Maintenance ( (1,96,939) (1,96,939) ( (1,217,411) 36.2%) ( (1,829,689) 33.5%) Sewer Operating Capital Repair and Maintenance ( (4,558,53) (4,558,53) ( (1,778,895) 61.%) ( (893,276) (99.1%) Reuse Water Operating Capital Repair and Mainten( (473,96) ( (473,96) ( (189,655) 6.%) ( (54,175) (25.1%) Transfers to Operating Reserves ( - ) ( -) ( -) N/A ( (466,363) 1.%) Transfers from ECF Reserves ( 148,651) ( 148,651) ( 15,832) (89.3%) ( 215,486) (92.7%) Transfers to ECF Reserves ( (734,65) (734,65) ( (742,611) (1.1%) ( (716,167) (3.7%) Transfers to Defined Benefit Pension Plan ( (333,975) ( (333,975) ( (35,55) 8.5%) ( (38,991) 1.1%) Debt Service Payment ( (444,567) ( (444,567) ( (486,921) (9.5%) ( (423,326) (15.%) Subtotal Other Sources/(Uses) of Funds (8,326,493) (8,326,493) ( (4,728,594) 43.2%) (4,54,66) (4.2%) Net Sources /(Uses) of Funds (3,924,711) (3,924,711) 87,687 N/A 667,921 N/A Beginning Fund Balance (does not include Reserve 29,374,671 29,374,671 29,374,671 N/A 28,76,75 N/A Ending Fund Balance (does not include Reserves) 25,449,96 25,449,96 3,182,358 N/A 29,374,671 N/A 13(a) - Page 4

5 Attachment 4 City and County of Broomfield General Governmental and Utility Capital Funds December 31, 217 (unaudited) General Governmental Funds Utilities Funds Amended Budget 217 Actual 217 Actual as a % of Budget Amended Budget 217 Actual 217 Actual as a % of Budget Annual Revenues Taxes ( 39,123,15) ( 39,736,177) 11.6%) ( -) ( -) N/A Intergovernmental ( 3,451,75) ( 725,419) 21.%) ( 44,35) ( 2,279) 5.1%) Charges for Services ( -) ( -) N/A ( 25,439,993) ( 23,637,813) 92.9%) Other (Interest, Contributions, Fees) ( 4,281,426) ( 2,36,721) 53.9%) ( 1,448,363) ( 2,231,514) 154.1%) Total Annual Revenues 46,855,651 42,768, %) 26,932,661 25,871, %) Capital Expenditures Capital Improvement Program Projects Building & Facilities ( 8,512,985) ( 1,548,982) 18.2%) ( -) ( -) N/A Drainage & Stormwater ( 112,4) ( 37,95) 33.8%) ( -) ( -) N/A Community Development ( 7,676,892) ( 5,44,54) 7.4%) ( -) ( -) N/A Information Technology ( 4,431,945) ( 3,38,542) 74.7%) ( -) ( -) N/A Landscaping ( 53,) ( 469,577) 88.6%) ( -) ( -) N/A Open Space Acquisition & Improvement ( 618,359) ( 396,866) 64.2%) ( -) ( -) N/A Parks & Recreation ( 47,621,911) ( 4,383,56) 9.2%) ( -) ( -) N/A Planning & Miscellaneous ( 1,413,551) ( 1,153,136) 81.6%) ( -) ( -) N/A Public Art & Culture ( 336,49) ( 81,745) 24.3%) ( -) ( -) N/A Trail Improvements ( 5,315,616) ( 736,76) 13.8%) ( -) ( -) N/A Transportation ( 66,287,474) ( 14,949,977) 22.6%) ( -) ( -) N/A Vehicle & Equipment ( 2,25,178) ( 1,793,46) 81.3%) ( -) ( -) N/A Utility Funds Projects Water Fund Projects ( -) ( -) N/A ( 16,583,42) ( 7,556,599) 45.6%) Sewer Fund Projects ( -) ( -) N/A ( 17,339,226) ( 6,571,688) 37.9%) Reuse Fund Projects ( -) ( -) N/A ( 1,424,93) ( 32,422) 21.2%) Lease Payments - General Governmental Funds ( 3,745,35) ( 4,22,678) 17.4%) ( -) ( -) N/A Debt Service on Bonds- General Governmental Funds ( 7,79,176) ( 7,79,663) 1.%) ( -) ( -) N/A Debt Service on Bonds - Utilities Funds ( -) ( -) N/A ( 8,8,896) ( 8,753,742) 99.5%) Total Capital Expenditures 156,597,886 46,347, %) 44,147,617 23,184, %) Net Before Other Sources/(Uses) of Funds (19,742,235) (3,579,53) 3.3%) (17,214,956) 2,687,155 (15.6%) Other Sources/(Uses) of Funds Transfers to Reserves ( (29,183,376) ( (29,184,839) 1.%) ( (7,16,142) ( (7,16,142) 1.%) Transfers from Reserves ( 3,695,724) ( 2,849,41) 77.1%) ( -) ( -) N/A Interfund Transfers In ( 9,532,419) ( 9,532,419) 1.%) ( 1,88,879) ( 1,9,286) 1.1%) Interfund Transfers Out ( (1,88,879) ( (1,9,286) 1.1%) ( -) ( -) N/A Bond Proceeds ( 86,276,837) ( 74,4,) 85.8%) ( -) ( -) N/A Bond Premium ( -) ( 12,28,).%) ( -) ( -) N/A Bond Issuance Costs ( (527,56) ( (599,499) 113.7%) ( -) ( -) N/A Subtotal Other Sources/(Uses) of Funds 68,75,669 67,826, %) (6,71,263) ( (6,69,856) 1.%) Net Annual Activity (41,36,566) 64,247,783 N/A (23,286,219) (3,382,71) N/A Beginning Balance, in excess of Reserves 57,973,44 57,973,44 N/A 84,127,722 84,127,722 N/A Ending Fund Balance (does not include Reserves) 16,936, ,221,223 N/A 6,841,53 8,745,21 N/A Ending Balance by Fund Budget Actual Budget Actual Sale & Use Tax Capital Improvement Fund (CIP) 1,35,15 94,334,47 Asset Replacement Fund ( 4,394,638) ( 8,47,999) Conservation Trust Fund (Lottery Funds) ( 565,226) ( 1,519,399) Open Space and Parks Fund ( 1,815,68) ( 5,182,23) Service Expansion Fee Fund (SEF) ( 7,492,676) ( 9,723,46) Development Agreement Fund ( 1,154,676) ( 3,283,49) Debt Service Fund ( 29,575) ( 13,499) Utilities Funds 6,841,53 8,745,21 Total Ending Fund Balance 16,936, ,221,223 6,841,53 8,745,21 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 217, held in the Governmental Capital Funds are estimated to be: 9,92,712 Facilities Improvements; 4,477,632 Asset Protection; 313,684 Open Space- Markel Parcel 4; CIP Fund - Debt Sinking Fund 17,, and 13,659,67 Debt Service Reserves. The projected Debt Service Reserves held in the Utility Funds as of December 217 equal 48,151, (a) - Page 5

6 Attachment 5 City and County of Broomfield Monthly Budget Report - Trust Funds December 31, 217 (unaudited) Amended Budget 217 Budget 217 Actual 217 Favorable/ (Unfavorable) variance 217 Budget to Actual Actual 216 Favorable/ (Unfavorable) variance 217 to 216 Annual Revenues Contributions ( 16,216,144) ( 16,216,144) ( 16,844,956) 3.9%) (16,122,198) 4.5%) Other (Interest and Other Fees) ( 9,466,491) ( 9,466,491) ( 19,493,88) 15.9%) (7,836,852) 148.7%) Revenues 25,682,635 25,682,635 36,338, %) 23,959,5 51.7%) Annual Operating Expenditures Benefit Payments ( 11,659,72) ( 11,659,72) ( 14,243,535) (22.2%) (15,291,564) 6.9%) Insurance ( 956,27) ( 956,27) ( 946,647) 1.%) (838,93) (12.8%) Administrative & Other ( 678,537) ( 678,537) ( 653,54) 3.7%) (699,369) 6.6%) Operating Expenditures 13,294,284 13,294,284 15,843,686 (19.2%) 16,829, %) Net Sources/ (Uses) of Funds 12,388,351 12,388,351 2,495,15 N/A 7,129,214 N/A Beginning Fund Balance (does not include Reserves) 18,354,626 18,354,626 18,354,621 N/A 11,225,47 N/A Ending Fund Balance (does not include Reserves) 12,742,977 12,742, ,849,771 N/A 18,354,621 N/A Ending Balance by Fund 217 Budget Budget 217 Actual 216 Actual Employee Medical Care Plan 2,84,348 2,84,348 3,531,472 2,957,841 General Employee Pension Retirement Plan ( 1,62,938) (1,62,938) ( 1,33,887) ( 9,126,363) General Employee Money Purchase Retirement Plan* ( 6,39,635) (6,39,635) ( 63,926,78) ( 54,234,975) Police Employee Defined Pension Retirement Plan ( 37,344) (37,344) ( 39,987) ( 36,316) Police Employee Money Purchase Retirement Plan* ( 45,833,816) (45,833,816) ( 48,947,85) ( 4,571,78) Retiree Health Savings ( 1,964,896) ( 1,964,896) ( 2,73,632) ( 1,428,48) Total Ending Fund Balance 12,742,977 12,742, ,849,771 18,354,621 * The Money Purchase plans are defined contribution retirement plans. The amounts held in these funds are employee retirement accounts held in trust. 13(a) - Page 6

7 Attachment 6 City and County of Broomfield Financial Report Revenue Tracking System Report # for December, 217 Prepared by the Broomfield Finance Department 13(a) - Page 7

8 Table 1 Sales Tax Revenues - Total Operating and Capital December Original 217 Budget Estimate 54,136,856 Revised 217 Budget Estimate 56,642,719 Current Projected 217 Revenues Based on Revenues Received To-Date 56,623,797 Actual - % Above (Below) Budget Estimate (18,922) (.3%) 9,, Sales Tax Revenues- Month to Month 8,, 7,, 6,, 5,, 4,, 3,, 2,, 1,, 6,, Sales Tax Revenue- Total to Date 5,, 4,, 3,, 2,, 1,, - January 216 includes 32, of prior year sales tax 3/7/218 13(a) - Page 8

9 December Table 2 Use Tax on Vehicles Original 217 Budget Estimate 6,563,245 Revised 217 Budget Estimate 5,944,83 Current Projected 217 Revenues Based on Revenues Received To-Date 6,353,238 Actual - % Above (Below) Budget Estimate 6.87% 48,48 7, Use Tax on Vehicles- Month to Month 6, 5, 4, 3, 2, 1, 7,, Use Tax on Vehicles- Total to Date 6,, 5,, 4,, 3,, 2,, 1,, 3/7/218 13(a) - Page 9

10 December Table 3 Use Tax on Building Materials Original 217 Budget Estimate 5,68,413 Revised 217 Budget Estimate 6,962,532 Current Projected 217 Revenues Based on Revenues Received To-Date 6,21,45 (941,127) Actual - % Above (Below) Budget Estimate (13.52%) 1,4, Use Tax on Building Materials- Month to Date 1,2, 1,, 8, 6, 4, 2, 8,, Use Tax on Building Materials- Total to Date 7,, 6,, 214 Data 5,, 4,, 3,, 2,, 1,, * Monthly collections have not shown a repeatable pattern. The 217 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. 3/7/218 13(a) - Page 1

11 Table 4 Property Tax Revenue December Original 217 Budget Estimate 36,343,853 Revised 217 Budget Estimate 35,67,935 Current Projected 217 Revenues Based on Revenues Received To-Date 35,169,145 Actual - % Above (Below) Budget Estimate (51,79) (1.41%) 14,, Property Tax- Month to Month 12,, 1,, 8,, 6,, 4,, 2,, -2,, 4,, Property Tax- Total to Date 35,, 214 Data 3,, 25,, 2,, 15,, 1,, 5,, * 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 3/7/218 13(a) - Page 11

12 December Table 5 Building Permit Fees Original 217 Budget Estimate 2,823,835 Revised 217 Budget Estimate 2,961,83 Current Projected 217 Revenues Based on Revenues Received To-Date 2,584,983 (376,847) Actual - % Above (Below) Budget Estimate (12.72%) 45, Building Permit Fees- Month to Date 4, 35, 3, 25, 2, 15, 1, 5, Building Permit Fees- Total to Date 3,5, 3,, 214 Data 2,5, 2,, 214 Data 1,5, 1,, 5, * Modified Cash Basis. 3/7/218 13(a) - Page 12

13 Table 6 Highway Users' Tax December Original 217 Budget Estimate 2,189,646 Revised 217 Budget Estimate 2,189,646 Current Projected 217 Revenues Based on Revenues Received To-Date 2,147,682 (41,964) Actual - % Above (Below) Budget Estimate (1.92%) 25, Highway Users' Tax Month to Month 2, 15, 1, 5, 2,5, Highway Users' Tax- Total to Date 2,, 1,5, 1,, 5, 3/7/218 13(a) - Page 13

14 December Table 7 All General Operating Governmental Type Revenues Original 217 Budget Estimate 12,993,616 Revised 217 Budget Estimate 123,243,42 Current Projected 217 Revenues Based on Revenues Received To-Date 118,866,333 (4,377,87) Actual - % Above (Below) Budget Estimate (3.55%) 25,, All General Governmental Type Revenues- Month to Month 2,, 15,, 1,, 5,, 214 Actual 215 Actual 216 Actual 217Projection 217 Actual All General Governmental Type Revenues- Total to Date 14,, 12,, 1,, 8,, 6,, 4,, 2,, 3/7/218 13(a) - Page 14

15 Table 8 Water Sales Revenue December Original 217 Budget Estimate 16,385,381 Revised 217 Budget Estimate 16,741,534 Current Projected 217 Revenues Based on Revenues Received To-Date 15,468,346 (1,273,188) Actual - % Above (Below) Budget Estimate (7.6%) 2,5, Water Sales Revenue- Month to Month 2,, 1,5, 1,, 5, - 18,, Water Sales Revenue- Total to Date 214 Data 16,, 14,, 12,, 1,, 8,, 6,, 4,, 2,, - 3/7/218 13(a) - Page 15

16 December Table 9 Water License Fees Revenue Original 217 Budget Estimate 19,629,549 Revised 217 Budget Estimate 13,334,625 Current Projected 217 Revenues Based on Revenues Received To-Date 14,326, ,374 Actual - % Above (Below) Budget Estimate 7.44% 4,5, Water License Fees- Month to Month 4,, 3,5, 3,, 2,5, 2,, 1,5, 1,, 5, - 18,, Water License Fees- Total to Date 16,, 14,, 214 Data 12,, 1,, 8,, 6,, 4,, 2,, - * Modified Cash Basis. * Monthly collections have not shown a repeatable pattern. The 217 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. 3/7/218 13(a) - Page 16

17 Table 1 Sewer Charges Revenue December Original 217 Budget Estimate 6,245,7 Revised 217 Budget Estimate 6,439,53 Current Projected 217 Revenues Based on Revenues Received To-Date 6,57, ,81 Actual - % Above (Below) Budget Estimate 2.4% 1,2, Sewer Charges Revenue- Month to Month 1,, 8, 6, 4, 2, 7,, Sewer Charges Revenue- Total to Date 214 Data 6,, 5,, 4,, 3,, 2,, 1,, 3/7/218 13(a) - Page 17

18 December Table 11 Sewer License Fees Original 217 Budget Estimate 19,727,824 Revised 217 Budget Estimate 11,768,588 Current Projected 217 Revenues Based on Revenues Received To-Date 8,959,214 (2,89,374) Actual - % Above (Below) Budget Estimate (23.87%) 4,5, Sewer License Fees- Month to Month 4,, 3,5, 3,, 2,5, 2,, 1,5, 1,, 5, Sewer License Fees- Total to Date 14,, 12,, 214 Data 1,, 8,, 6,, 4,, 2,, * Modified Cash Basis. * Monthly collections have not shown a repeatable pattern. The 217 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. 3/7/218 13(a) - Page 18

19 December Table 12 Enterprise Funds Revenues Original 217 Budget Estimate 7,947,12 Revised 217 Budget Estimate 57,29,556 Current Projected 217 Revenues Based on Revenues Received To-Date 58,229,367 1,19,811 Actual - % Above (Below) Budget Estimate 1.78% 3,, Enterprise Funds- Month to Month 25,, 2,, 15,, 1,, 5,, Enterprise Funds- Total to Date 7,, 214 Data 6,, 5,, 4,, 3,, 2,, 1,, 3/7/218 13(a) - Page 19