July Fleet Ser 2 vices F 0 und 09 FINANCIAL REPORT

Transcription

1 July Fleet Services 2009 Fund FINANCIAL REPORT

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3 Public Utility Board LAURA FOX Chair PETER THEIN Vice-Chair ROBERT CASEY Secretary DAVID NELSON Member WOODROW JONES Member WILLIAM A. GAINES Director of Utilities/CEO THEODORE C. COATES Power Superintendent/COO FRANK CASTRO Manager, Fleet Services ROBERT K. BILES Finance Director DEPARTMENT OF PUBLIC UTILITIES CITY OF TACOMA

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5 CITY OF TACOMA, WASHINGTON DEPARTMENT OF PUBLIC UTILITIES FLEET SERVICES FUND TABLE OF CONTENTS Note: These financial statements are interim, unaudited reports prepared primarily for the use of management. Not all transactions reported in these statements have been recorded on the full accrual basis of accounting or in accordance with generally accepted accounting principles. COMPARATIVE BALANCE SHEETS STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS SUPPLEMENTAL DATA

6 CITY OF TACOMA, WASHINGTON DEPARTMENT OF PUBLIC UTILITIES FLEET SERVICES FUND COMPARATIVE BALANCE SHEETS JULY 31, 2009 AND JULY 31, 2008 ASSETS CURRENT Current Fund Cash & Equity in Pooled Investments $23,255,060 $21,009,114 Accounts Receivable... 3,732 3,631 Materials and Supplies , ,106 Prepaid Expense ,226 Total Current Assets... 23,639,934 21,689,077 FIXED Office Furniture and Equipment , ,905 Stores and Shop Equipment , ,780 Transportation Equipment... 29,562,988 27,610,044 Power-Operated Equipment... 19,137,169 18,096,480 Construction Work in Progress... 1,353,139 2,048,737 Total Fixed Assets... 51,108,981 48,810,946 Accumulated Depreciation... (33,545,713) (31,321,042) Net Fixed Assets... 17,563,268 17,489,904 TOTAL ASSETS... $41,203,202 $39,178,981 These statements should be read in conjunction with the Notes to Financial Statements contained in the 2008 Annual Report

7 NET ASSETS AND LIABILITIES NET ASSETS Invested in Capital Assets... $17,563,267 $17,489,904 Restricted for: Tacoma Power... 16,327,261 16,026,388 Tacoma Water... 6,328,842 5,714,103 Tacoma Rail , ,342 Unrestricted... 23,287 (1,151,088) TOTAL NET ASSETS... 40,851,998 38,688,649 CURRENT LIABILITIES Accounts Payable , ,286 Wages Payable... 71,284 61,676 Interdivision Payable ,965 Employee Vacation and Sick Leave Accrual , ,405 Others Total Current Liabilities , ,332 TOTAL LIABILITIES , ,332 TOTAL NET ASSETS AND LIABILITIES... $41,203,202 $39,178,

8 CITY OF TACOMA, WASHINGTON DEPARTMENT OF PUBLIC UTILITIES FLEET SERVICES FUND STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN NET ASSETS JULY 31, 2009 AND JULY 31, 2008 JULY 31, JULY 31, OPERATING REVENUE Maintenance Revenue... $205,607 $168,334 Capital Recovery , ,811 Administrative Overhead... 54,432 53,967 Fuel and Fuel Loading... 6,385 10,924 Pool Car Rental... 7,600 18,730 Total Operating Revenue , ,766 OPERATING EXPENSES Repairs and Servicing Shop Operations , ,715 Outside Services... (7,527) 232 Total Repairs and Servicing , ,947 Stores Operations... 11,410 15,428 Administration ,589 94,814 Depreciation , ,672 Total Operating Expenses , ,861 OPERATING INCOME , ,905 NON-OPERATING REVENUES (EXPENSES) Interest Income... 10,208 17,512 Gain (Loss) on Disposition of Equipment Total Non-Operating Revenues (Expenses)... 10,208 17,512 Net Income Before Transfers , ,417 Transfers In ,326 1,257 NET INCOME... $361,652 $276,674 TOTAL NET ASSETS - JANUARY 1... TOTAL NET ASSETS - JULY These statements should be read in conjunction with the Notes to Financial Statements contained in the 2008 Annual Report

9 YEAR TO DATE YEAR TO DATE JULY 31, JULY 31, 2009/2008 PERCENT VARIANCE CHANGE $1,248,704 $1,291,813 ($43,109) -3.3% 3,494,097 3,598,869 (104,772) -2.9% 384, ,367 4, % 36,616 59,057 (22,441) -38.0% 58,613 47,627 10, % 5,222,667 5,377,733 (155,066) -2.9% 1,196,191 1,133,450 62, % 3,854 2,511 1, % 1,200,045 1,135,961 64, % 114, ,673 (14,604) -11.3% 702, ,196 74, % 1,767,069 1,838,119 (71,050) -3.9% 3,783,379 3,730,949 52, % 1,439,288 1,646,784 (207,496) -12.6% 28,287 55,959 (27,672) -49.5% 28,380 14,828 13, % 56,667 70,787 (14,120) -19.9% 1,495,955 1,717,571 (221,616) -12.9% 121,326 52,196 69, % 1,617,281 1,769,767 (152,486) -8.6% 39,234,717 36,918,882 $40,851,998 $38,688,

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12 TOTAL OPERATING REVENUES Year to Date - July 2009 ($5,222,667) Capital Recovery 67% Maintenance Revenues 24% All Others 9% TOTAL OPERATING REVENUES Year to Date - July 2008 ($5,377,733) Capital Recovery 67% Maintenance Revenues 24% All Others 9% - 7 -

13 TOTAL OPERATING EXPENSES Year to Date - July 2009 ($3,783,379) Stores Operations 3% Repairs 32% Administration 19% Depreciation 46% TOTAL OPERATING EXPENSES Year to Date - July 2008 ($3,730,949) Stores Operations 3% Repairs 30% Administration 17% Depreciation 50% - 8 -