Net Quick Assets. Target = $510,050 (6 months operating expenses) 12 Month Average Monthly Operating Expenses = $85,008

Transcription

1 $800,000 $600,000 $400,000 Net Quick Assets Target = $510,050 (6 months operating expenses) 12 Month Average Monthly Operating Expenses = $85,008 Current Assets Current Liabilities Current Net FINANCIAL DASHBOARD Through August 31, 2017 Net Quick Assets Aug 16 = $484,103 Sep 16 = $488,664 Oct 16 = $517,806 Nov 16 = $492,203 Dec 16 = $489,502 Jan 17 = $493,542 Feb 17 = $499,143 Mar 17 = $514,783 Apr 17 = $532,024 May 17 = $557,172 Jun 17 = $576,532 Jul 17 = $589,906 Aug 17 = $616,547 NET QUICK ASSETS are the highly liquid assets held by the agency, including cash, marketable securities and accounts receivable. Net quick assets are calculated as current assets (cash + marketable securities + prepaid assets + accounts receivable) minus current liabilities of payables and deferred revenue. The target is 6 months of operating expenses (TJPDC costs minus pass-through and project contractual expenses), based on a rolling twelve-month average. TJPDC had 7.02 months of operating expenses at the end of the month. The rolling twelve-month average operating expenses changes only slightly from month to month, increasing from $83,993 in July to $85,008 in August. Actual expenses for August were $93,836. $500,000 $400,000 $300,000 $100,000 Unrestricted Cash on Hand Target = $340,033 (4 months operating expenses) Concern Area = <$170,017 (2 months operating expenses) UNRESTRICTED CASH ON HAND consists of funds held in checking and money market accounts immediately available to TJPDC for expenses. Cash does not include pass-through deposits in transit. Total cash minus notes payable minus deferred revenue = Unrestricted Cash on Hand. Months of Unrestricted Cash divides unrestricted cash on hand by the agency s average monthly operating expenses to give the number of months of operation without any additional cash received. The end of month level of Unrestricted Cash on Hand of $401,760 represents 4.73 months of operating expenses.

2 $300,000 $250,000 $150,000 $100,000 $50,000 -$50,000 Revenue Less Expenses Goal = $4,166 ($50,000 annually) Concern Area = 3 consecutive negative months Rev Exp Pass Thru Exp Total Exp Net Change FINANCIAL DASHBOARD Through August 31, 2017 Monthly Net Revenue Aug 16 = $10,510 Sep 16 = $2,607 Oct 16 = $4,767 Nov 16 = ($6,899) Dec 16 = ($4,550) Jan 17 = $2,612 Feb 17 = ($4,277) Mar 17 = $22,151 Apr 17 = $15,513 May 17 = $24,877 Jun 17 = $24,392 Jul 17 = $9,520 Aug 17 = $23,804 NET REVENUE is the surplus or shortfall resulting from monthly revenues minus expenses. The Operating Budget adopted in May 2017 is balanced, with no surplus or loss projected. The final budget for will be adopted in the first half of calendar year 2018, when anticipated revenues and expenses will be more certain. There was a surplus in August of $23,804, bringing the year-to-date surplus to $33,289. This far outpaces the goal of $4,166 per month. NOTES 1. Target is a reasonable expectation that the TJPDC may reach this level to achieve our long range financial goals. A plan will be developed showing how these target goals are expected to be achieved through daily financial management practices. 2. Concern is a level where staff will immediately identify causes of the change in financial position, whether this is a special one-time circumstance caused by a financial action or whether a trend is emerging caused by one of more operational or financial circumstances and prepare a plan of action to correct or reverse the trend. 3. Back up documentation and details of this Financial Dashboard can be found in the monthly financial statements of balance sheet, income statement and cash position statement supplied to the TJPDC Commissioners. 4. The average monthly operating expense is a rolling twelve-month average of operating expenses (TJPDC costs minus pass-through and project contractual expenses). 5. TJPDC achieved its FY17 goal of exceeding $500,000 in Net Quick Assets before the end of the year. The Commission is considering earmarking some of TJPDC s reserves for a building or capital fund.

3 Thomas Jefferson Planning District Commission 1:37 PM Consolidated Profit and Loss 09/28/17 August 2017 Accrual Basis Aug 17 Budget Jul - Aug... YTD Bud... Annual... Ordinary Income/Expense Income Federal Funding Source 131, , , ,543 1,396, State Funding Source 32,169 21,310 54,691 42, , Local Source 4285 Rent Income 1, ,398 1,700 10, Local Source - Other 27,130 18,614 43,258 37, ,193 Total 4130 Local Source 28,513 19,464 45,655 38, , Local Match Per Capita 12,839 12,839 25,678 25, , Interest Income ,545 Total Income 205, , , ,193 2,043,402 Gross Profit 205, , , ,193 2,043,402 Expense Personnel 72,559 68, , , , Postage Expense , Subscriptions, Publications Supplies , , Audit -Legal Expenses , Advertising 74 1, ,327 14, Meeting Expenses , TJPDC Contractual 2,800 3,894 5,448 8,150 41, Dues ,530 9, Insurance , Printing/Copier , Rent Expense 7,077 7,249 14,155 14,498 86, Equipment/Data Use 3,456 1,730 4,654 3,460 20, Telephone Expense , Travel-Vehicle 1,464 1,392 2,356 3,021 17, Janitorial Service 2, ,161 1,820 10, Professional Development 1,973 1,017 5,711 2,459 12,850 Total Expense 94,693 88, , ,961 1,073,153 Net Ordinary Income 110,922 81, , , ,249 Other Income/Expense Other Expense HOME Pass-Through 81,118 35, ,524 70, , Grants Contractual Services 6,000 45,742 8,957 91, ,899 Total Other Expense 87,118 80, , , ,249 Net Other Income (87,118) (80,854) (185,481) (161,708) (970,249) Net Income 23, , Page 1

4 11:11 AM Thomas Jefferson Planning District Commission 09/22/17 Balance Sheet Prev Year Comparison Accrual Basis As of August 31, 2017 Aug 31, 17 Aug 31, 16 $ Change ASSETS Current Assets Checking/Savings 1100 Cash 511, , , Total Checking/Savings 511, , , Accounts Receivable 1190 Receivable Grants 223, , , Total Accounts Receivable 223, , , Other Current Assets 1310 Prepaid Rent Prepaid Insurance 4, , , Prepaid Other 6, , Total Other Current Assets 11, , , Total Current Assets 746, , , Fixed Assets 1400 Office furniture and Equipment 111, , Server 11, , Accumulated Depreciation -110, , , Total Fixed Assets 13, , , TOTAL ASSETS 760, , , LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2100 Accounts Payable-General 15, , , Total Accounts Payable 15, , , Credit Cards 2155 Accounts Payable Credit Card 4, , Total Credit Cards 4, , Other Current Liabilities 2150 Accounts Payable Grants Accounts Payable Payroll , , Deferred Revenue 110, , , Total Other Current Liabilities 110, , , Total Current Liabilities 130, , , Long Term Liabilities 2200 Leave Payable 49, , , Total Long Term Liabilities 49, , , Total Liabilities 180, , , Equity 3000 General Operating Fund 542, , , Net Investment in Fixed Assets 4, , , Net Income 33, , , Total Equity 579, , , TOTAL LIABILITIES & EQUITY 760, , , Page 1

5 Accrued Revenue by Grant or Contract For Year Ending June 30, 2018 Grant or Contract START DATE END DATE TOTAL JULY AUG SEPT OCT NOV DEC JAN YEAR TO DATE PREVIOUS YEARS BUDGETED AMOUNT FOR FY19 GRANT TO DATE REMAINING MPO-FTA 07/01/17 06/30/18 93,553 11,430 17,930 29,360 29,360 64,193 MPO-PL 07/01/17 06/30/18 186,722 19,867 17,509 37,376 37, ,346 MPO-HYDRAULIC 03/01/17 06/30/18 60,000 2,897 4,960 7,857 12,248 20,105 39,895 HOME TJPDC 07/01/17 06/30/18 46,566 3,456 4,308 7,764 7,764 38,802 HOME PASS-THROUGH 07/01/17 06/30/18 421,350 95,407 81, , , ,825 HOUSING HPG 07/01/17 09/30/18 9,618 1, ,836 2,038 1,836 5,744 HPG PASS-THROUGH 07/01/17 09/30/18 54,615 2,957 2,957 11,547 2,957 40,111 STATE SUPPORT TO PDC 07/01/17 06/30/18 75,971 6,330 6,331 12,661 12,661 63,310 CLEAN COMMUTE DAY 07/01/17 06/30/ RIDESHARE 07/01/17 06/30/18 171,450 13,209 25,624 38,833 38, ,617 RIDESHARE PASS-THROUGH 07/01/17 06/30/18 2, ,623 RURAL TRANSPORTATION 07/01/17 06/30/18 58,000 4,357 4,431 8,788 8,788 49,212 CACF GREENWAYS GRANT 07/01/17 07/01/19 35,464 1,120 2,082 3,202 12,648 3,202 19,614 GO VIRGINIA 06/13/17 12/31/17 10,000 1,726 1,239 2,965 2,965 7,035 CHERRY AVE 08/30/17 11/30/18 127, , ,756 RUCKERSVILLE AREA PLAN 08/01/17 03/31/18 21,390 2,897 2,897 2,897 18,493 TJPDC CORPORATION 07/01/17 06/30/18 2, ,348 2,142 2,142 0 LEGISLATIVE LIAISON 07/01/17 06/30/18 99,400 5,909 7,654 13,563 13,563 85,837 SOLID WASTE 07/01/17 06/30/18 10, ,385 RIVANNA RIVER CORRIDOR 07/01/17 06/30/18 15, ,000 RRBC 07/01/17 06/30/18 7, ,160 RRBC PASS-THROUGH 07/01/17 06/30/18 3, ,340 COLUMBIA- HMPG 02/29/16 09/15/18 42,000 2, ,917 18,975 3,025 21,892 17,083 VDEM PASS-THROUGH 02/29/16 09/15/18 157, ,500 HAZARD MITIGATION 03/21/16 04/30/18 45, ,321 2,940 30,578 33,518 11,482 MEMBER PER CAPITA 07/01/17 06/30/18 154,070 12,839 12,839 25,678 25, ,392 WATER STREET CENTER 07/01/17 06/30/ OFFICE LEASES - RENT 07/01/17 06/30/18 10, ,400 1,400 8,800 OFFICE LEASES - DIRECT COSTS 07/01/17 06/30/ STANARDSVILLE TAP 04/06/15 12/31/17 11, ,585 7,018 4,482 ALBEMARLE CTY PLAN REVIEW 07/01/17 06/30/18 14,448 1,869 2,300 4,169 4,169 10,279 ALBEMARLE CTY FACILITATION 03/01/17 09/30/17 1, ,095 SHRP2 I-64 10/01/16 12/31/17 70,000 7,922 6,427 14,349 40,343 54,692 15,308 SHRP2 I-64 Pass Through 10/01/16 12/31/17 30, ,794 17,794 12,206 5TH STREET TAP 11/16/16 10/01/20 56, ,085 7,821 39,273 8,906 7,821 5th STREET TAP Pass Through 11/16/16 10/01/20 543, , ,000 BANK INTEREST 07/01/17 06/30/18 2, ,113 TOTAL 2,652, , , , , , ,808 1,559,683 Pass-through funds 557,982 Contract funds TJPDC Available Funds $1,001,702 Available per month $100,170