Net Quick Assets. Target = $454,424 (5 months operating expenses) 12 Month Average Monthly Operating Expenses = $90,885

Transcription

1 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 Net Quick Assets Target = $454,424 (5 months operating expenses) 12 Month Average Monthly Operating Expenses = $90,885 Current Assets Current Liabilities Current Net FINANCIAL DASHBOARD Through February 28, 2018 Net Quick Assets 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 = $616,157 Sep 17 = $630,350 Oct 17 = $655,717 Nov 17 = $660,566 Dec 17 = $657,057 Jan 18 = $681,968 Feb 18 = $672,608 NET QUICK ASSETS are the highly liquid assets held by the agency, including cash, marketable securities and accounts receivable. Net quick assets (NQA) are calculated as current assets (cash + marketable securities + prepaid assets + accounts receivable) minus current liabilities of payables and deferred revenue. The target has been revised to 5 months of operating expenses (TJPDC costs minus pass-through and project contractual expenses), based on a rolling twelve-month average. The Commission has earmarked excess NQA above the target as the Capital Reserve Fund. TJPDC had 7.40 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 to $89,248 in January to $90,885 in February. Actual operating expenses for February were $99,747 compared to $91,414 in January. Two new employees began work on February 1. Funds available for the Capital Reserve Fund are $218,184 (Actual NQA target NQA). $600,000 $500,000 $400,000 $300,000 $100,000 Unrestricted Cash on Hand Target = $363,539 (4 months operating expenses) Concern Area = <$181,770 (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 $466,378 represents 5.13 months of operating expenses.

2 $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 February 28, 2018 Monthly Net Revenue 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 = $23,413 Sep 17 = $13,250 Oct 17 = $22,812 Nov 17 = $3,488 Dec 17 = ($1,569) Jan 18 = $7,975 Feb 18 = $3,253 NET REVENUE is the surplus or shortfall resulting from monthly revenues minus expenses. The Operating Budget adopted in March 2018 projects a surplus of $83,785 for the year. There was surplus in February of $3,253, resulting in a year-to-date surplus of $82,090. This nearly reaches the budgeted target, with four months remaining in the fiscal year. 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 has earmarked some of TJPDC s reserves for a building or capital fund, tied to Net Quick Assets.

3 Thomas Jefferson Planning District Commission 11:55 AM Consolidated Profit and Loss 03/16/18 February 2018 Accrual Basis Feb 18 Budget Jul '17 - Feb 18 YTD Budget Annual Budget Ordinary Income/Expense Income Federal Funding Source 46,546 94, , ,805 1,135, State Funding Source 15,065 23, , , , Local Source 41,800 39, , , , Local Match Per Capita 12,839 12, , , , Interest Income ,223 1,697 2,545 Total Income 117, ,601 1,141,383 1,364,631 2,046,168 Gross Profit 117, ,601 1,141,383 1,364,631 2,046,168 Expense Personnel 6100 Salaries 62,603 59, , , , Fringe and Release 16,441 14, , , ,369 Total Personnel 79,044 73, , , , Postage Expense ,680 4, Subscriptions, Publications Supplies ,424 5,431 8, Audit -Legal Expenses ,500 16,500 16, Advertising 49 2,306 9,724 18,445 28, Meeting Expenses ,189 6,376 9, TJPDC Contractual 1,782 4,345 17,602 41,735 59, Dues 1, ,224 6,149 9, Insurance ,624 2,200 3, Printing/Copier ,673 4,308 6, Rent Expense 7,284 7,512 57,856 60,474 90, Equipment/Data Use 4,164 2,104 16,756 16,830 25, Telephone Expense ,961 3,977 5, Travel-Vehicle 2,002 1,268 11,046 10,624 15, Janitorial Service 1, ,507 7,280 10, Professional Development 339 1,296 9,603 10,868 16,052 Total Expense 99,747 97, , ,489 1,196,248 Net Ordinary Income 17,381 73, , , ,920 Other Income/Expense Other Expense HOME Pass-Through 0 35, , , , Grants Contractual Services 14,129 28,732 64, , ,785 Total Other Expense 14,129 63, , , ,135 Net Other Income (14,129) (63,845) (311,387) (510,757) (766,135) Net Income 3,253 9,527 82,090 47,385 83,785 Page 1

4 9:20 AM 03/19/18 Accrual Basis Thomas Jefferson Planning District Commission Balance Sheet Prev Year Comparison As of February 28, 2018 Feb 28, 18 Feb 28, 17 $ Change ASSETS Current Assets Checking/Savings 1100 Cash 548, , , Capital Reserve 218, , Total Checking/Savings 766, , , Accounts Receivable 1190 Receivable Grants 206, , , Total Accounts Receivable 206, , , Other Current Assets 1310 Prepaid Rent 2, , Prepaid Insurance 1, , Prepaid Other 5, , , Total Other Current Assets 9, , , Total Current Assets 982, , , Fixed Assets 1400 Office furniture and Equipment 111, , Server 11, , Accumulated Depreciation -114, , , Total Fixed Assets 8, , , TOTAL ASSETS 991, , , LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2100 Accounts Payable-General 8, , , Total Accounts Payable 8, , , Credit Cards 2155 Accounts Payable Credit Card 1, , , Total Credit Cards 1, , , Other Current Liabilities 2800 Deferred Revenue 300, , , Total Other Current Liabilities 300, , , Total Current Liabilities 310, , , Long Term Liabilities 2200 Leave Payable 53, , , Total Long Term Liabilities 53, , , Total Liabilities 363, , , Equity 3000 General Operating Fund 323, , , Restricted Capital Reserve 218, , Net Investment in Fixed Assets 3, , , Net Income 82, , , Total Equity 627, , , TOTAL LIABILITIES & EQUITY 991, , , Page 1 of 1

5 Accrued Revenue by Grant or Contract For Year Ending June 30, 2018 Grant or Contract START END TOTAL JULY AUG SEPT OCT NOV DEC JAN FEB YEAR TO PREVIOUS YEARS BUDGETED AMOUNT FOR FY19 GRANT TO REMAINING MPO-FTA 07/01/17 06/30/18 93,553 11,430 17,930 6,459 8,285 7,940 7,545 5,902 5,267 70,758 70,758 22,795 MPO-PL 07/01/17 06/30/18 186,722 19,867 17,509 13,819 15,688 15,890 10,531 11,737 12, , ,074 69,648 MPO-HYDRAULIC 03/01/17 06/30/18 60,000 2,897 4,960 4,024 3,366 3,331 1,931 3,711 3,228 27,448 12,248 39,696 20,304 HOME TJPDC 07/01/17 06/30/18 46,566 3,456 4,308 3,258 3,096 4,572 4,677 4,114 5,555 33,036 33,036 13,530 HOME PASS-THROUGH 07/01/17 06/30/18 421,350 95,407 81,118 43,357 6,730 19, , , ,899 HOUSING HPG 07/01/17 09/30/18 9,618 1, ,744 2,038 4,744 2,836 HPG PASS-THROUGH 07/01/17 09/30/18 54,615 2,957 2,915 2,257 4,100 7,897 3,657 10,542 34,325 11,547 34,325 8,743 STATE SUPPORT TO PDC 07/01/17 06/30/18 75,971 6,330 6,331 6,331 6,331 6,331 6,331 6,331 6,331 50,647 50,647 25,324 CLEAN COMMUTE DAY 07/01/17 06/30/ RIDESHARE 07/01/17 06/30/18 171,450 13,209 25,624 17,133 20,073 18,260 11,384 12,174 8, , ,257 45,193 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 6,271 5,789 3,978 8,412 9,150 9,156 51,544 51,544 6,456 CACF GREENWAYS GRANT 07/01/17 07/01/19 35,464 1,120 2,082 1,025 2,951 1, ,451 12,648 11,451 11,365 GO VIRGINIA 06/13/17 12/31/17 4,947 1,726 1,239 1,982 4,947 4,947 0 CHERRY AVE 08/30/17 11/30/18 127,134 2,010 3,565 4,404 4,142 3,911 4,375 22,407 42,378 22,407 62,349 RUCKERSVILLE AREA PLAN 08/01/17 03/31/18 21,390 2,897 2,808 3,642 3,912 3,115 2,872 3,172 22,418 22,418-1,028 TJPDC CORPORATION 07/01/17 06/30/18 3, , ,620 3,620 0 LEGISLATIVE LIAISON 07/01/17 06/30/18 99,400 5,909 7,654 8,506 9,485 9,863 7,356 9,210 8,283 66,266 66,266 33,134 SOLID WASTE 07/01/17 06/30/18 10, ,065 1,065 9,435 RIVANNA RIVER CORRIDOR 07/01/17 06/30/18 15, ,994 1,496 1, ,815 5,302 13,701 13,701 1,299 RRBC 07/01/17 06/30/18 2, ,218 RRBC PASS-THROUGH 07/01/17 06/30/18 8, ,340 COLUMBIA- HMPG 02/29/16 09/15/18 42,000 2, ,279 2,458 1, , ,537 18,975 3,025 29,512 9,463 VDEM PASS-THROUGH 02/29/16 09/15/18 157,500 2,331 2,331 2, ,169 HAZARD MITIGATION 03/21/16 04/30/18 45, ,321 2,696 1,723 3, ,366 12,215 30,578 42,793 2,207 TJCLT 10/19/17 10/19/19 78, ,048 4,174 63,173 4,174 11,153 MEMBER PER CAPITA 07/01/17 06/30/18 154,070 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12, , ,712 51,358 WATER STREET CENTER 07/01/17 06/30/18 5, , ,448 5,448 0 OFFICE LEASES - RENT 07/01/17 06/30/18 10, ,600 5,600 4,600 OFFICE LEASES - DIRECT COSTS 07/01/17 06/30/ STANARDSVILLE TAP 04/06/15 10/01/19 25, ,899 6,585 8,484 17,016 ALBEMARLE CTY PLAN REVIEW 07/01/17 06/30/18 50,000 1,869 2,300 2,732 2,891 2,054 2,950 5,359 5,721 25,876 25,876 24,124 ALBEMARLE CTY FACILITATION 07/01/17 12/31/17 2, ,860 2,277 2,277 0 SHRP2 I-64 10/01/16 12/31/17 70,000 7,922 6,427 9,190 5, ,657 40,343 70,000 0 SHRP2 I-64 Pass Through 10/01/16 12/31/17 30,000 1,814 8,994 1,398 12,206 17,794 30, TH STREET TAP 11/16/16 10/01/20 56, , ,891 7,821 38,179 13,712 4,109 5th STREET TAP Pass Through 11/16/16 10/01/20 543,880 2,303 6,000 3,586 11, ,880 11,889 88,111 BANK INTEREST 07/01/17 06/30/18 2, , ,223 1,223 1,322 TOTAL 2,782, , , , , , , , ,128 1,143, , ,868 1,277, ,919 Pass-through funds $437,885 Op Expenses 12 month average $90,885 Contract funds 3 month average $92,090 TJPDC Available Funds $450,035 last month $99,747 Available per month $112,508.64