SnapShot. Monthly Financial Report. Citywide Revenue, excluding transfers between funds, $281.5 million (10.0% under budget projections)

Transcription

1 2016 SnapShot DEC Monthly Financial Report Citywide Revenue, excluding transfers between funds, $281.5 million (10.0% under budget projections) Sales & Use Tax Collection, $48.8 million (3.2% above budget projections) Citywide Expenditures, excluding transfers between funds, $269.5 million (27.8% below budget projections) Citywide Revenues & Expenditures General Fund Revenues & Expenditures Capital Projects Tax Totals & Comparison Flood Update 8-9 Citywide Revenues exceed Expenditures by $12.0 million; Citywide Operating Revenues exceed Operating Expenditures by $56.4 million. General Fund Revenue, excluding transfers between funds, $89.3 million (2.9% above budget projections) General Fund Expenditures, excluding transfers between funds, $71.8 million, (6.3% below budget projections) General Fund Revenues (including transfers) exceed Revenues (including transfers) by $600 thousand; General Fund Year-to-Date Operating Revenues (excluding transfers) exceed General Fund Year-to-Date Operating Expenditures (excluding transfers and capital) by $17.5 million. Geo Codes & Sales Tax SIC Health Care Claims Activity Measures Sales / Use Tax Basics Rialto Quarterly Report 15 Loveland: a vibrant community surrounded by natural beauty where you belong Sales Tax Motor Vehicle Use Tax Building Materials Use Tax Combined 2016 $ 42,167,132 $ 2,575,000 $ 2,549,157 $ 47,291,289 Actual ,883,791 3,567,625 3,332,366 48,783,782 % of 99.3% 138.5% 130.7% 103.2% Actual 2015 $ 40,761,528 $ 3,252,500 $ 3,240,831 $ 47,254,859 Change from prior yr 2.8% 9.7% 2.8% 3.2% City of Loveland 500 East 3rd Street Loveland, CO (970)

2 Citywide Revenues & Expenditures Combined Statement of Revenues and Expenditures 2016 REVENUE Current Month YTD Actual YTD Revised % of General Governmental 1 General Fund $ 6,944,797 $ 89,309,943 $ 86,755, % 2 Special Revenue 744,225 9,687,747 16,672, % 1 3 Other Entities 127,971 28,734,316 29,560, % 4 Internal Service 1,629,936 19,930,038 19,058, % 5 Subtotal General Govt Operations 9,446, ,662, ,047, % 6 Capital Projects 1,154,274 14,738,229 9,697, % Enterprise Fund 7 Water & Power 7,450, ,957, ,137, % 2 8 Stormwater 595,254 6,354,039 6,065, % 9 Golf 15,321 3,964,574 3,977, % 10 Solid Waste 507,707 6,847,587 6,915, % 11 Subtotal Enterprise 8,568, ,123, ,096, % 12 Total Revenue $ 19,169,945 $ 281,523,730 $ 312,841, % Prior Year External Revenue 268,105,893 Increase From Prior Year 5.0% 13 Internal Transfers 3,774,201 25,201,494 52,561, % 14 Grand Total Revenues $ 22,944,146 $ 306,725,224 $ 365,402, % EXPENDITURES General Governmental 15 General Fund 4,599,913 69,354,348 72,613, % 16 Special Revenue 1,021,451 12,286,952 13,984, % 17 Other Entities 1,096,017 26,802,162 28,268, % 18 Internal Services 2,263,225 18,755,980 21,829, % 19 Subtotal General Gov't Operations 8,980, ,199, ,695, % 20 Capital 3,124,494 59,113, ,078, % Enterprise Fund 21 Water & Power 5,909,771 71,262,787 83,795, % 22 Stormwater 66,714 2,736,954 4,445, % 23 Golf 144,783 3,671,061 3,914, % 24 Solid Waste 611,601 5,512,457 6,093, % 25 Subtotal Enterprise 6,732,869 83,183,260 98,249, % 26 Total Expenditures $ 18,837,968 $ 269,496,270 $ 373,023, % Prior Year External Expenditures 271,408,840 Increase (-Decrease) From Prior Year -0.7% 27 Internal Transfers 3,774,201 25,201,494 52,561, % 28 Grand Total Expenditures $ 22,612,169 $ 294,697,764 $ 425,584, % 1 Revenue is lower than projected due to timing of when capital projects are done, and federal grants are drawn on those projects. 2 Revenue is lower than projected due to timing of transfers for interfund debt service payments. Special Revenue Funds: Community Development Block Grant, Cemetery, Local Improvement District, Lodging Tax, Affordable Housing, Seizure & Forfeitures, Transit, Transportation. Other Entities Fund: Special Improvement District #1, Airport, General Improvement District #1, Loveland Urban Renewal Authority, Loveland/Larimer Building Authority, Loveland Fire and Rescue Authority. Internal Service Funds: Risk/Insurance, Fleet, Employee Benefits City of Loveland

3 Monthly Financial Report General Fund Revenue, excluding capital and transfers between funds, $89.3 million (2.9% above budget projections) 2.7% above 2015 YTD General Fund Expenditures, excluding capital and transfers between funds, $69.4 million (4.5% below budget projections) 2.4% above 2015 YTD Water & Power Revenue, excluding transfers between funds, $102 million (24.0% below budget projections) 9.3% above 2015 YTD Water & Power Expenditures, excluding transfers between funds, $71.3 million (15.0% below budget projections) 1.9% above 2015 YTD Other Entities Fund Revenue, excluding transfers between funds, $28.7 million (2.8% below budget projections) 7.4% below 2015 YTD Other Entities Expenditures, excluding capital and transfers between funds, $26.8 million (5.2% below budget projections) 11.1% below 2015 YTD SnapShot City of Loveland - 3 -

4 General Fund Revenues & Expenditures General Fund Revenue & Expenditures 2016 REVENUES Current Month YTD Actual YTD Revised % of 1 Taxes 2 Property tax $ 31,024 $ 8,705,926 $ 8,514, % 3 Sales tax 3,363,390 41,883,791 42,167, % 4 Building use tax 600,763 3,332,366 2,549, % 5 Auto use tax 311,044 3,567,625 2,575, % 6 Other taxes 341,462 3,040,033 2,985, % 7 Intergovernmental 76, , , % 8 License & Permits 9 Building Permits 356,472 2,775,196 2,947, % 1 10 Other Permits (119,996) 279, , % 11 Charges for Services 1,248,232 15,577,061 15,394, % 12 Fines & Forfeitures 63, , , % 13 Interest Income 47, , , % 14 Miscellaneous 624,517 7,994,906 7,541, % 15 Subtotal 6,944,797 89,309,943 86,755, % 16 Interfund Transfers 6, , , % 17 Total Revenue $ 6,951,638 $ 89,417,134 $ 86,863, % EXPENDITURES Operating Expenditures 18 Legislative 13, , , % 19 Executive & Legal 203,188 2,558,781 2,536, % 20 City Clerk & Court Admin 36, , , % 21 Economic Development 108,229 2,420,696 3,006, % 22 Cultural Services 181,804 2,024,786 2,060, % 23 Development Services 349,567 4,028,409 4,596, % 24 Finance 406,779 4,988,520 5,235, % 25 Fire & Rescue % 26 Human Resources 84,394 1,173,826 1,285, % 27 Information Technology 330,729 3,901,565 4,660, % 28 Library 263,712 3,172,583 3,347, % 29 Parks & Recreation 776,942 10,179,027 11,205, % 30 Police 1,510,915 20,666,926 21,062, % 31 Public Works 506,349 5,235,382 5,808, % 32 Water/ Waste Operations % 33 Non-Departmental (78,866) 10,767,871 10,994, % 34 Subtotal Operating 4,693,318 71,845,244 76,638, % 35 Internal Transfers 2,138,197 16,960,783 26,996, % 36 Total Expenditures $ 6,831,515 $ 88,806,027 $ 103,634, % 1 Revenue is lower than projected due to less non-residential remodels and improvements City of Loveland

5 Capital Projects $500,000+ Project Title Expenditures Remaining 2016 % of 2016 Water Capital WTP Phase II Expansion (38 MGD) $ 7,072,691 $ 6,542,266 $ 530, % 2015 Water Line Replacement 850, , % Raw Water Capital Windy Gap Firming Project 4,341,660 1,438,658 2,903, % Wastewater Utility Capital WWTP Expansion 27,101,493 1,776,770 25,324, % Southside Lift Station 1,716, ,885 1,214, % Lakeside Terrace & Boedecker Left Station Improvements 556, ,412 24, % Power Capital Phase 2 of Canyon Voltage Conversion - Galde Rd to WTP 804, ,511 28, % OH to UG conversion Circuit , , % OH to UG conversion 29th St - Madison to Hwy ,000 37, , % OH to UG conversion - RR tracks N of 10th 1,400,000-1,400, % OH to UG conversion - Downtown Catalyst 1,400,000 6,175 1,393, % Land purchase for new substation 1,700,000-1,700, % Transfer load from Crossroads to Fairgrounds 950,000 11, , % Install 750 AL - Crossroads Sub N. to CR30, E. to I-25 1,000,000-1,000, % Extend feeders - Crossroads C2 to distribution system 700, , % FEMA Alt Project - Foothills Solar Field 5,100,000 5,108,478-8, % OH to UG Circuit 314 from 71st along Garfield to 29th 857, , , % RMCIT Campus Conversion - Valley Sub to Taft 304, , , % FEMA Alt Project Foothills Substation 4,000, ,999, % New Switchgear & Crossroads Substation 600, ,898 57, % Build Out of Available Space 821, ,244-82, % Stormwater Capital 2016 Stormwater Maintenance & Asset Mgmt Pjts 584,731 69, , % Benson Park Culvert Improvements 913,227 4, , % Airport Basin North Outfall 1,509, , , % Streets Transportation Program R-O-W Acquisition - Citywide 530, , % Boyd Lake Greeley Loveland 976, , % Taft Big Barnes Ditch 1,332, , , % Boise & 37th Intersection Improvements 1,649, ,639 1,508, % Byrd Drive Extension 1,708,000 1,717,614-9, % Boyd/US34 Signal & Intersection Improvements 2,482, ,181 1,954, % Railroad Ave. Flood Repairs FHWA@20038ER1 5,793, ,515 5,299, % Traffic Signal Controls 591, , % All Other Replace General Spartan Engine 652, , , % Viestenz-Smith Mountain Park Redevelopment 4,192,220 68,705 4,123, % Museum Collections Storage Building 2,400,000 2,079, , % Flood Trail Reconstruction 600,000 41, , % Fire Administration Building (FAB) Remodel 1,884, ,476 1,366, % Airport - Snow Removal Equipment Building 1,252,549 1,159,547 93, % Maintenance & Operation Center (MOC) Remodel 934, , , % Mariana Butte Flood River & Bridge Enhancements 564, , , % Open Lands Acquisition & Restoration 5,899,433 4,038,131 1,861, % Neighborhood Park East $1,900,000 $ 300,000 $ 1,600, % SnapShot City of Loveland - 5 -

6 Tax Totals and Comparisons Sales & Use Tax / - Jan $ 4,801,433 $ 4,908,517 $ 4,950,022 5,026, % Feb 3,066,965 2,700,204 3,622,959 3,115, % Mar 3,037,688 4,007,386 3,411,932 3,410, % Apr 3,737,255 4,011,633 3,974,366 3,950, % May 3,614,459 3,611,468 3,699,643 3,686, % Jun 3,525,536 4,116,214 4,182,259 3,636, % Jul 4,038,555 4,375,627 4,229,851 4,286, % Aug 3,962,915 3,783,694 4,023,763 4,104, % Sep 4,014,321 4,170,066 4,045,789 4,103, % Oct 3,974,590 4,102,720 4,227,573 4,138, % Nov 3,919,205 3,572,713 4,140,427 3,898, % Dec 3,763,933 3,894,616 4,275,198 3,933, % $ 45,456,855 $ 47,254,859 $48,783,782 $47,291,289 YTD $ 45,456,855 $ 47,254,859 $48,783,782 $47,291, % Retail Sales Tax / - Jan $ 4,531,650 $ 4,535,554 $ 4,365,416 4,697, % Feb 2,658,798 2,235,775 3,190,005 2,770, % Mar 2,719,254 3,480,164 2,924,575 3,141, % Apr 3,317,905 3,521,350 3,504,812 3,596, % May 3,059,076 3,092,253 3,221,324 3,217, % Jun 3,170,467 3,208,195 3,346,764 3,335, % Jul 3,546,945 3,727,389 3,807,869 3,870, % Aug 3,241,521 3,389,010 3,563,493 3,495, % Sep 3,374,248 3,408,259 3,544,599 3,563, % Oct 3,448,473 3,642,285 3,763,070 3,693, % Nov 3,077,404 3,034,997 3,288,473 3,289, % Dec 3,246,097 3,486,297 3,363,390 3,495, % $39,391,838 $40,761,528 $41,883,791 $42,167,132 YTD $39,391,838 $40,761,528 $41,883,791 $42,167, % City of Loveland

7 Monthly Financial Report Building Materials Use Tax / - Jan $ 57,942 $ 114,444 $ 207, , % Feb 173, , , , % Mar 120, , , , % Apr 217, , , , % May 293, , , , % Jun 136, , , , % Jul 253, , , , % Aug 417, , , , % Sep 377, , , , % Oct 222, , , , % Nov 551, , , , % Dec 217, , , , % $3,039,002 $3,240,831 $3,332,366 $2,549,157 YTD $3,039,002 $3,240,831 $3,332,366 $2,549, % Motor Vehicle Use Tax / - Jan $ 211,841 $ 258,519 $ 377, , % Feb 234, , , , % Mar 197, , , , % Apr 202, , , , % May 261, , , , % Jun 218, , , , % Jul 238, , , , % Aug 303, , , , % Sep 262, , , , % Oct 303, , , , % Nov 290, , , , % Dec 300, , , , % $3,026,015 $3,252,500 $3,567,625 $2,575,000 YTD $3,026,015 $3,252,500 $3,567,625 $2,575, % SnapShot City of Loveland - 7 -

8 Lodging / Building Comparisons Lodging Tax Revenue received in 2016 is at $869,066 year-to-date. 1.2% higher than 2015 YTD City of Loveland

9 Monthly Flood Update Cost Estimates Emergency Response $ 2,000,000 Business Assistance 600,000 Capital 39,157,667 Total $ 41,757,667 Actual Expenditures To Date Total $ 25,789 $ 27,670,399 Reimbursements Applied For To Date FEMA $ - $ 16,432,736 CIRSA - 7,119,891 Other - 1,866,028 Total Reimbursements Received $ - $ 25,418,655 To Date FEMA $ 410,987 $ 13,126,249 CIRSA - $ 7,119,891 Other - $ 1,866,028 Total $ 410,987 $ 22,112,168 SnapShot City of Loveland - 9 -

10 Geographical Codes Geographical Area YTD 2016 YTD 2015 Change South East Loveland $ 9,925,180 $ 9,798, % North West Loveland 4,382,999 4,238, % Centerra 3,969,155 3,953, % North East Loveland 3,748,462 3,358, % Orchards Shopping Center 2,766,793 2,591, % Promenade Shops 2,493,904 2,658, % Thompson Valley Shopping Center 2,100,031 2,025, % South West Loveland 1,614,182 1,588, % Outlet Mall 1,461,503 1,485, % Downtown 1,327,455 1,281, % The Ranch 826, , % Columbine Shopping Center 786, , % Airport 717, , % All Other Areas (1) 5,764,432 5,617, % Total $41,883,791 $40,761, % (1) Refers to sales tax remitted by vendors who are located outside of the City but make sales to customers within Loveland. Map City of Loveland

11 Geographical Codes N W E S SnapShot City of Loveland

12 Sales Tax Collections Description YTD 2016 YTD 2015 $ Change % Change % of Total Total % Department Stores & General Merchandise 7,672,043 7,833,042 $ (160,999) -2.1% 18.3% 18.3% Restaurants & Bars 5,666,654 5,474, , % 13.5% 31.8% Grocery Stores & Specialty Foods 4,651,454 4,255, , % 11.1% 43.0% Building Material & Lawn & Garden Supplies 3,531,010 3,312, , % 8.4% 51.4% Motor Vehicle Dealers, Auto Parts & Leasing 3,251,136 3,085, , % 7.8% 59.1% Clothing & Clothing Accessories Stores 2,743,193 2,903,008 (159,815) -5.5% 6.5% 65.7% Utilities 1,942,703 1,936,738 5, % 4.6% 70.3% Sporting Goods, Hobby, Book & Music Stores 1,754,735 1,737,948 16, % 4.2% 74.5% Used Merchandise Stores 1,510,422 1,448,328 62, % 3.6% 78.1% Broadcasting & Telecommunications 1,159,011 1,310,172 (151,161) -11.5% 2.8% 80.9% Beer, Wine & Liquor Stores 1,080,943 1,049,053 31, % 2.6% 83.5% Consumer Goods & Commercial Equipment Rental 1,022, , , % 2.4% 85.9% Hotels, Motels & Other Accommodations 993, ,209 13, % 2.4% 88.3% Electronics & Appliance Stores 738, , , % 1.8% 90.1% Health & Personal Care Stores 686, ,955 (124) 0.0% 1.6% 91.7% Electronic Shopping & Mail-Order Houses 627, ,465 43, % 1.5% 93.2% Furniture & Home Furnishing Stores 598, ,242 57, % 1.4% 94.6% Gasoline Stations with Convenience Stores 446, ,081 8, % 1.1% 95.7% Office Supplies, Stationery & Gift Stores 239, ,289 (70,572) -22.7% 0.6% 96.3% All Other Categories 1,566,966 1,330, , % 3.7% 100.0% Total $41,883,791 $ 40,761,528 $ 1,122, % 100.0% City of Loveland

13 Change Health Care Claims Claims Incurred OAP HRA Total Dec 950, ,270 1,163,791 YTD 9,967,786 2,127,303 12,095,089 Dec 646, , ,979 YTD 9,268,997 2,669,770 11,938,767 Dec 304,139 53, ,812 Dec 47.1% 33.6% 44.4% YTD 698,789 (542,467) 156,322 % YTD 7.5% -20.3% 1.3% HRA Health Reimbursement Arrangement OAP Open Access Plan Incurred claims are total expenses the City is obligated to pay for claims, including claims paid and unpaid. Paid claims are those claims that have been paid and reconciled through the bank to-date, which may not reflect Stop Loss reimbursements or other refunds. Comparison of YTD Claims Over $25k # of claims YTD Cost of high claims $4,005,604 $6,414,786 $7,820,853 $8,024, # of StopLoss claims: 7 Projected YTD Reimbursements: $1,338,433 (claims over $175k paid by StopLoss Carrier) SnapShot City of Loveland

14 Activity Measures Measures Dec 2014 Dec 2015 Dec YTD 2015 YTD 2016 YTD # of Building Permits ,305 2,762 2,674 Building Permit Valuations $15,652,351 $14,859,808 $43,519,571 $255,911,918 $246,684,724 $267,074,094 # of Certified Occupancies Net # of Sales Tax Licenses 14 (18) (24) (73) (156) 7 New Residential Electric Meter Sets # of Utility Bills Sent 37,208 38,111 38, , , ,993 Rounds of Golf 2, , , ,474 $ Average Health Claim Costs/Emp. $1,098 $1,146 $1,098 $ 1,276 $ 1,418 $ 1,187 KWH Demand (kh) 109, , ,116 1,306,199 1,298,223 1,279,830 KWH Purchased (kwh) 66,032,658 63,076,656 63,893, ,153, ,664, ,596,456 Gallons of Water Sold 147,884, ,137, ,914,572 3,503,149,438 3,637,891,051 3,865,966,536 # of Workers' Comp Claims $ of Workers' Comp Claims $20,882 $38,659 $10,817 $589,937 $495,693 $372,970 # of Total Open Claims Not Cumulative $ of Total Open Claims 243, , ,587 Not Cumulative $ of Lodging Tax Collected $55,619 $50,202 $50,151 $840,273 $859,028 $869, City of Loveland

15 Quarterly Rialto Report City of Loveland Statement of Results of Operations for Rialto Theater Center For Quarter Ending 12/31/2016 Rialto Theater 2015 YTD Amount 2016 YTD Amount 2016 YTD % of % Change from Prior Year Rialto Theater Revenues Revenues from Operations 272, , , % -0.88% Gifts/Donations 20,919 60, , % % Transfers from Lodging Tax Fund 25,000 25,000 25, % 0.00% Total Rialto Theater Revenues 318, , , % 11.76% Rialto Theatre Expenses Personnel Costs 292, , , % 11.61% Supplies 47,848 21,855 25, % % Purchased Services 214, , , % % Capital Outlay 29,192 49,990 50, % 71.25% Total Direct Costs 584, , , % 0.29% Administrative Allocations 152, , , % 20.50% Total Rialto Theater Expenses 736, , , % 4.47% Rialto Theater Net Income (Loss) (418,146) (413,583) (424,918) 97.33% -1.09% Rialto Event Center Rialto Event Center Revenues Revenues from Operations 17,036 24,347 16, % 42.92% Gifts/Donations % 0.00% Total Event Center Revenues 17,036 24,347 16, % 42.92% Rialto Event Center Expenses Personal Services 23,847 18,737 24, % % Supplies % -9.54% Purchased Services 52,685 64,937 51, % 23.25% Capital Outlay % 0.00% Total Rialto Event Center Expenses 76,706 83,831 75, % 9.29% Rialto Event Center Net Income (Loss) (59,670) (59,484) (59,058) % -0.31% Grand Total Rialto Theater Center Revenues 335, , , % 13.34% Grand Total Rialto Theater Center Expenses 813, , , % 4.92% Rialto Theater Center Net Income (Loss) (477,816) (473,068) (483,976) 97.75% -0.99% SnapShot City of Loveland

16 SnapShot 2016 Financial Sustainability Strategies Can Be Found At: CityofLoveland.org Departments Finance Administration Financial Reports Financial Sustainability Strategies The City of Loveland is committed to providing an equal opportunity for citizens and does not discriminate on the basis of disability, race, color, national origin, religion, sexual orientation or gender. The City will make reasonable accommodations for citizens in accordance with the Americans with Disabilities Act. For more information, please contact the City s ADA Coordinator at ADACoordinator@cityofloveland.org or For more information regarding this report contact: Brent Worthington Finance Director or brent.worthington@cityofloveland.org