Monthly Financial Report

Transcription

1 SnapShot Citywide Revenues & Expenditures 2-3 Monthly Financial Report General Fund Revenues & Expenditures Capital Projects Tax Totals & Comparison Geo Codes & Sales Tax SIC Sales Tax Collections Lodging Tax 11 Citywide Revenue, $275.2 million (75.8% of the total annual budget) Sales & Use Tax Collections, $42.5 million (82.3% of total annual budget) Citywide Expenditures, $248.6 million (57.5% of total annual budget) Citywide Total Revenues exceed Citywide Total Expenditures by $26.6 million General Fund Revenue, $81.2 million (84.7% of total annual budget) Health Care Claims 12 General Fund Expenditures, $68.3 million, (81.3% of total annual budget) Flood Update 13 Activity Measures 14 General Fund Year-to-Date Operating Revenues (excluding transfers) exceed General Fund Year-to-Date Operating Expenditures (excluding transfers and capital) by $12.9 million. Sales / Use Tax Basics 500 East 3rd Street Loveland, CO (970) Sales Tax Motor Vehicle Use Tax Building Use Tax Combined $ 44,579,113 $ 3,694,113 $ 3,432,337 $ 51,705,563 37,203,826 2,979,687 2,363,233 42,546,746 % of 83.5% 80.7% 68.9% 82.3% 2016 $ 35,231,928 $ 2,884,381 $ 2,251,849 $ 40,368,157 Change from prior year 5.6% 3.3% 4.9% 5.4% *Numbers presented throughout this document may not sum to the exact dollar due to rounding Loveland: a vibrant community surrounded by natural beauty where you belong.

2 Citywide Revenues & Expenditures Combined Statement of Revenues and Expenditures REVENUES YTD Total % of General Governmental 1 General Fund $ 7,968,758 $ 81,201,698 $ 95,889, % 2 Special Revenue 1,115,468 10,012,525 22,806, % 3 Other Entities 1,440,339 33,599,676 35,806, % 4 Internal Service 2,046,575 20,533,969 27,367, % 5 Subtotal General Gov t Operations 12,571, ,347, ,869, % 6 Capital Projects 1,223,506 24,957,145 32,774, % Enterprise Funds 7 Water & Power 9,453,258 89,324, ,596, % 8 Stormwater 718,650 5,871,786 6,397, % 9 Golf 249,056 3,679,346 4,081, % 10 Solid Waste 781,490 6,024,561 7,139, % 11 Subtotal Enterprise 11,202, ,899, ,215, % 12 Citywide Total Revenues $ 24,997,101 $ 275,204,764 $ 362,858, % Prior Year External Revenue 238,234,002 Increase From Prior Year 15.5% 13 Internal Transfers 257,430 10,649,402 48,534, % 14 Grand Total Revenues $ 25,254,530 $ 285,854,165 $ 411,393, % EXPENDITURES General Governmental 15 General Fund 6,542,261 68,341,194 84,085, % 16 Special Revenue 1,165,029 11,748,652 21,216, % 17 Other Entities 1,327,871 27,207,641 32,428, % 18 Internal Services 1,541,512 17,324,435 26,745, % 19 Subtotal General Gov't Operations 10,576, ,621, ,476, % 20 Capital 7,977,174 50,462, ,829, % Enterprise Fund 21 Water & Power 5,845,961 62,618,621 88,671, % 22 Stormwater 221,254 2,933,884 5,337, % 23 Golf 278,013 2,950,758 3,603, % 24 Solid Waste 482,698 4,976,250 6,499, % 25 Subtotal Enterprise 6,827,926 73,479, ,111, % 26 Citywide Total Expenditures $ 25,381,773 $ 248,564,194 $ 432,417, % Prior Year External Expenditures 231,617,121 Increase (-Decrease) From Prior Year 7.3% 27 Internal Transfers 257,430 10,649,402 48,534, % 28 Grand Total Expenditures $ 25,639,203 $ 259,213,596 $ 480,952, % 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. 2

3 Monthly Financial Report 2016 % of % Change from Previous Year General Fund Operating Revenues $ 75,390,613 $ 81,201,698 $ 95,889, % 7.7% General Fund Operating Expenditures 60,088,835 68,341,194 84,085, % 13.7% Water & Power Revenues 84,698,916 89,324, ,596, % 5.5% Water & Power Expenditures 60,092,270 62,618,621 88,671, % 4.2% Other Entities Revenues 27,883,172 33,599,676 35,806, % 20.5% Other Entities Expenditures $ 24,515,452 $ 27,207,641 $ 32,428, % 11.0% SnapShot 3

4 General Fund Revenues & Expenditures General Fund Revenues & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 74,882 $ 8,803,039 $ 8,751, % 3 Sales tax 3,884,499 37,203,826 44,579, % 4 Building use tax 467,692 2,363,233 3,432, % 5 Motor Vehicle Use Tax 325,016 2,979,687 3,694, % 6 Other taxes 231,987 2,713,069 3,333, % 7 Intergovernmental 5, , , % 8 Building Permits 335,370 2,057,795 2,745, % 9 Other Permits 67, , , % 10 Charges for Services 1,490,920 15,875,478 18,899, % 11 Fines & Forfeitures 92, , , % 12 Interest Income 50, , , % 13 Miscellaneous 942,220 7,336,069 8,211, % 14 Subtotal Operating 7,968,758 81,201,698 95,889, % 15 Interfund Transfers 5,545 55,453 66, % 16 Total Revenues $ 7,974,303 $ 81,257,152 $ 95,955, % EXPENDITURES 18 Legislative 10, , , % 19 Executive & Legal 377,800 3,315,663 4,501, % 20 City Clerk & Court Admin 41, , , % 21 Finance 493,710 4,847,846 6,163, % 22 Information Technology 351,655 3,494,556 4,781, % 23 Human Resources 116,311 1,161,932 1,439, % 24 Economic Development 88, ,188 1,280, % 25 Development Services 312,359 2,914,452 3,948, % 26 Police 1,891,295 20,400,426 24,975, % 27 Public Works 480,509 4,657,637 6,324, % 28 Parks & Recreation 859,081 8,644,651 10,673, % 29 Cultural Services 200,757 1,907,862 2,283, % 30 Library 288,244 3,073,272 3,791, % 31 Non-Departmental 1,030,903 12,255,626 13,027, % 34 Subtotal Operating 6,542,261 68,341,194 84,085, % 35 Internal Transfers 145,830 8,794,231 36,562, % 36 Capital 99,989 1,586,660 2,802, % 37 Total Expenditures $ 6,788,080 $ 78,722,085 $ 123,450, % 4

5 Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital Namaqua Pump Stations & Tank Improvements $ 784,805 $ 81,830 $ 702, % Shubert Dr. & Wilson Waterline Rehab 936, , , % Raw Water Capital Windy Gap Firming 1,386,762 1,260, , % Purchase CBT Water 524, , % Wastewater Utility Capital Parallel Boyd Intcp 557,392 59, , % WWTP Expansion 34,143,251 3,107,002 31,036, % Southside Lift Station 1,439,553 1,008, , % CIPP Sewer Rehab 1,049, ,048, % Power Capital Security Gates and Fences at Substations 500, , % Install 600 Amp Tie from Cascade West Along Hwy , , % Canyon Conversion 700,000 62, , % Extension of 600 Amp from 14th St SW to Hwy 60 along Hwy 287 1,100,000 1,733,900 (633,900) % OH to UG RR Tracks North of 10th between RR Ave. and Madison Ave 1,400,000 1,400, % OH to UG Foundry 1,400, , , % East Substation - Order New Switchgear Lineup for E3 750, , % Land Purchase for New Substation 1,700,000 1,700, % Feeder from Horseshoe to Woodward/Lee Farms Sub 1,500,000 1,500, % Install 750 AL from MCR to Kendall Pkwy & I25 800, , % 29th and Rio Blanco 547, , , % OH to UG Conversion - Hwy 287 from 42nd st to 57th street 248,276 1,046,781 (798,505) % FEMA Power Alt Project - Substation 3,881,120 3,507, , % Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 1,210,683 32,766 1,177, % Madison Avenue Outfall Outlet Reconstruction 706,217 30, , % Benson Park Culvert Improvements 918,672 67, , % Streets Transportation Program Right of Way Acquisition 727, , , % Taft at Big Barnes Ditch 1,976, ,607 1,262, % Boyd/US34 Signal & Intersection 1,423, , , % Boyd Lake, US34, Mtn Lion Drive 2,663, ,635 2,477, % Beech & 29th Signal 529, , , % West 8th St Bridge 1,246, ,637 1,123, % Sidewalk Install (US287) 552, , % US34-Denver to Boyd Lake Widening 500, , , % Supplemental Bridge Repairs 1,260,000 24,969 1,235, % Wilson Ave Flood Mitigation 3,690, ,689, % Cleveland Ave Traffic Calming 1,000, , , % Garfield - 10th to 23rd 1,385, ,621 1,168, % AP Street Rehab 1,325,000 1,133, , % Wilson to Taft Flood Recovery 566, , , % Railroad Ave Flood Repairs 5,546,883 97,960 5,448, % All Other Pulliam Building 2,326, ,064 2,185, % The Foundry 18,054,085 6,262,519 11,791, % Loveland's Contribution to I-25 Companion Projects 2,500,000-2,500, % Flood Damage at the Trails 600, , , % Viestenz Smith Park Flood Repair 4,204,662 2,968,992 1,235, % New Fire Training Center 2,228, ,576 1,637, % Police Records Management System 1,470,107-1,470, % Police Training Campus 1,620,000 2,500 1,617, % Cemetery Maintenance Shop & Office 587,514 26, , % Open Lands Acquisition 3,724,523 3,238, , % River's Edge Open Lands 803,971 26, , % 2016 Rec Trail System 526, , , % Long View Trail 961,743 95, , % SnapShot 5

6 Tax Totals and Comparisons Sales & Use Tax % of Jan $ 4,908,517 $ 4,950,022 $ 5,380,338 51,705, % Feb 2,700,204 3,622,959 3,616,075 51,705, % Mar 4,007,386 3,411,932 3,512,819 51,705, % Apr 4,011,633 3,974,366 4,447,928 51,705, % May 3,611,468 3,699,643 3,784,024 51,705, % Jun 4,116,214 4,182,259 4,159,532 51,705, % Jul 4,375,627 4,229,851 4,565,859 51,705, % Aug 3,783,694 4,023,763 4,125,602 51,705, % Sep 4,170,066 4,045,789 4,277,361 51,705, % Oct 4,102,720 4,227,573 4,677,207 51,705, % Nov 3,572,713 4,140,427 51,705,563 Dec 3,894,616 4,275,198 51,705,563 $47,254,859 $48,783,782 $42,546,746 $51,705, % Sales Tax % of Jan $ 4,535,554 $ 4,365,416 $ 4,937,924 44,579, % Feb 2,235,775 3,190,005 3,129,483 44,579, % Mar 3,480,164 2,924,575 3,034,547 44,579, % Apr 3,521,350 3,504,812 3,772,342 44,579, % May 3,092,253 3,221,324 3,370,239 44,579, % Jun 3,208,195 3,346,764 3,631,821 44,579, % Jul 3,727,389 3,807,869 4,052,726 44,579, % Aug 3,389,010 3,563,493 3,662,650 44,579, % Sep 3,408,259 3,544,599 3,727,595 44,579, % Oct 3,642,285 3,763,070 3,884,499 44,579, % Nov 3,034,997 3,288,473 44,579,113 Dec 3,486,297 3,363,390 44,579,113 $40,761,528 $41,883,791 $37,203,826 $44,579, % 6

7 Tax Totals and Comparisons Building Use Tax % of Jan $ 114,444 $ 207,531 $ 94,933 3,432, % Feb 221, , ,642 3,432, % Mar 261, , ,508 3,432, % Apr 200, , ,367 3,432, % May 248, , ,168 3,432, % Jun 651, , ,694 3,432, % Jul 358, , ,644 3,432, % Aug 111, , ,118 3,432, % Sep 462, , ,466 3,432, % Oct 182, , ,692 3,432, % Nov 223, ,754 3,432,337 Dec 203, ,763 3,432,337 $3,240,831 $3,332,366 $2,363,233 $3,432, % Motor Vehicle Use Tax % of Jan $ 258,519 $ 377,075 $ 347,481 3,694, % Feb 242, , ,951 3,694, % Mar 265, , ,764 3,694, % Apr 289, , ,218 3,694, % May 270, , ,617 3,694, % Jun 256, , ,017 3,694, % Jul 289, , ,490 3,694, % Aug 283, , ,834 3,694, % Sep 299, , ,300 3,694, % Oct 277, , ,016 3,694, % Nov 313, ,200 3,694,113 Dec 205, ,044 3,694,113 $3,252,500 $3,567,625 $2,979,687 $3,694, % SnapShot 7

8 Geographical Codes Sales Tax Collections by Geographical Area YTD 2016 YTD Change South East Loveland $ 8,300,195 $ 8,566, % North West Loveland 3,642,222 3,910, % Centerra 3,336,530 3,245, % North East Loveland 3,081,070 3,580, % Orchards Shopping Center 2,347,452 2,373, % Promenade Shops 2,092,923 2,083, % Thompson Valley Shopping Center 1,777,980 1,804, % South West Loveland 1,400,500 1,473, % Outlet Mall 1,210,789 1,193, % Downtown 1,113,987 1,149, % The Ranch 695, , % Columbine Shopping Center 628, , % Airport 621, , % All Other Areas (1) 4,982,020 5,790, % Total $35,231,927 $37,203, % (1) Refers to sales tax remitted by vendors who are located outside of the City but make sales to customers within Loveland. Map 8

9 Geographical Codes N W E S SnapShot 9

10 Sales Tax Collections by Industry Sector Description YTD 2016 YTD $ Change % Change % of Total Total % Department Stores & General Merchandise 6,391,563 6,420,083 $ 28, % 17.3% 17.3% Restaurants & Bars 4,748,374 4,990,626 $ 242, % 13.4% 30.7% Grocery Stores & Specialty Foods 3,853,709 4,171,048 $ 317, % 11.2% 41.9% Building Material & Lawn & Garden Supplies 3,002,330 3,170,557 $ 168, % 8.5% 50.4% Motor Vehicle Dealers, Auto Parts & Leasing 2,748,672 3,079,737 $ 331, % 8.3% 58.7% Clothing & Clothing Accessories Stores 2,288,340 2,253,033 $ (35,307) -1.5% 6.1% 64.7% Utilities 1,674,093 1,746,604 $ 72, % 4.7% 69.4% Used Merchandise Stores 1,285,965 1,428,522 $ 142, % 3.8% 73.3% Sporting Goods, Hobby, Book & Music Stores 1,464,067 1,410,026 $ (54,041) -3.7% 3.8% 77.1% Consumer Goods & Commercial Equipment Rental 864, ,892 $ 100, % 2.6% 79.7% Beer, Wine & Liquor Stores 903, ,210 $ 58, % 2.6% 82.2% Electronic Shopping & Mail-Order Houses 536, ,786 $ 419, % 2.6% 84.8% Broadcasting & Telecommunications 969, ,603 $ (40,321) -4.2% 2.5% 87.3% Hotels, Motels & Other Accommodations 863, ,401 $ (9,103) -1.1% 2.3% 89.6% Electronics & Appliance Stores 627, ,977 $ 24, % 1.8% 91.4% Health & Personal Care Stores 583, ,906 $ % 1.6% 92.9% Furniture & Home Furnishing Stores 503, ,431 $ 55, % 1.5% 94.4% Gasoline Stations with Convenience Stores 374, ,065 $ 8, % 1.0% 95.5% Office Supplies, Stationery & Gift Stores 206, ,349 $ (25,243) -12.2% 0.5% 95.9% All Other Categories 1,341,198 1,506,970 $ 165, % 4.1% 100.0% Total $35,231,927 $37,203,826 $ 1,971, % 100.0% 10

11 Lodging Tax Collections Lodging Tax Revenue received in is $745,085 YTD.08% lower than 2016 YTD SnapShot 11

12 Change 2016 Health Care Claims Claims Incurred OAP HRA Total Oct 582,793 64, ,956 YTD 6,335,087 1,175,945 7,511,032 Oct 901, ,308 1,047,827 YTD 7,653,114 1,665,143 9,318,257 Oct (318,726) (82,145) (400,871) % Oct -35.4% -56.1% -38.3% YTD (1,318,027) (489,198) (1,807,225) % YTD -17.2% -29.4% -19.4% HRA Health Reimbursement Arrangement 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. OAP Open Access Plan Comparison of YTD Claims Over $25k # of claims YTD Cost of high claims $5,206,721 $5,591,812 $5,780,688 $4,499,144 # of StopLoss claims: 5 Projected YTD Reimbursements: $651,953 (claims over $175k paid by StopLoss Carrier) 12

13 Monthly Flood Update Cost Estimates Emergency Response $ 2,000,000 Capital & Business Assistance 36,757,667 Total $ 38,757,667 Expenditures To Date Total $ 420,381 $ 36,380,117 Reimbursements Applied For To Date FEMA $ - $ 22,154,557 CIRSA - $ 7,304,825 Other 13,579 $ 2,326,272 Total Reimbursements Received $ 13,579 $ 31,785,654 To Date FEMA $ 47,813 $ 17,807,387 CIRSA - $ 7,304,825 Other 13,579 $ 2,326,272 Total $ 61,392 $ 27,438,484 SnapShot 13

14 Activity Measures Measures Oct 2015 Oct 2016 Oct 2015 YTD 2016 YTD YTD # of Building Permits ,336 2,213 2,190 Building Permit Valuations $22,372,075 $12,815,447 $ 39,037,155 $ 202,190,649 $191,634,826 $ 244,244,080 # of Certified Occupancies Net # of Sales Tax Licenses (122) 4 32 (153) New Residential Electric Meter Sets # of Utility Bills Sent 37,867 38,827 39, , , ,313 Rounds of Golf 9,804 10,150 8, , , ,458 $ Average Health Claim Costs/Emp. $ 1,560 $ 1,092 $ 983 $ 1,340 $ 1,205 $ 1,147 KWH Demand (kh) 92,063 87,019 86,056 1,102,533 1,082,911 1,094,518 KWH Purchased (kwh) 58,942,680 56,846,557 55,463, ,633, ,825, ,681,878 Gallons of Water Sold 492,198, ,164, ,157,690 3,267,764,584 3,488,949,529 3,367,685,859 # of Workers' Comp Claims $ of Workers' Comp Claims $ 21,758 $ 19,333 $ 37,450 $ 426,923 $ 348,597 $ 346,209 # of Total Open Claims Not Cumulative $ of Total Open Claims $ 420,518 $ 558,828 $ 554,246 Not Cumulative $ of Lodging Tax Collected $ 85,438 $ 83,426 $ 87,196 $ 740,101 $ 745,755 $ 745,543 14

15 Monthly Financial Report Annual s & Financial Reports Can Be Found At: CityofLoveland.org Departments Finance Administration Financial Reports The 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 SnapShot 15

16 SnapShot For more information regarding this report contact: Brent Worthington Finance Director or