Monthly Financial Report. Citywide Revenue, $26.1 million (7.9% of the total annual budget

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1 SnapShot Citywide Revenues & Expenditures General Fund Revenues & Expenditures Capital Projects Tax Totals & Comparison Geo Codes & Sales Tax SIC Sales Tax Collections Lodging Tax 11 Monthly Financial Report Citywide Revenue, $26.1 million (7.9% of the total annual budget Sales & Use Tax Collections, $5.4 million (11.0% of total annual budget) Citywide Expenditures, $19.2 million (4.8% of total annual budget) Citywide Revenues exceed Expenditures by $6.9 million; Citywide Operating Revenues exceed Operating Expenditures by $6.9 million. General Fund Revenue, $8.1 million (8.7% of total annual budget) Health Care Claims 12 General Fund Expenditures, $10.2 million, (8.7% of total annual budget) Flood Update 13 Activity Measures 14 General Fund Expenditures (including transfers) exceed Revenues (including transfers) by $3.3 million; General Fund Year-to-Date Operating Expenditures (excluding transfers) exceed General Fund Year-to-Date Operating Revenues (excluding transfers and capital) by $2.1 million. Sales / Use Tax Basics 500 East 3rd Street Loveland, CO (970) Sales Tax Motor Vehicle Use Tax Building Use Tax Combined $ 3,560,795 $ 294,160 $ 231,223 $ 4,086,178 4,937, ,481 94,933 5,380,338 % of 138.7% 118.1% 41.1% 131.7% 2016 $ 4,365,416 $ 377,075 $ 207,531 $ 4,950,022 Change from prior year 13.1% -7.8% -54.3% 8.7% 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 $ 8,083,822 $ 8,083,822 $ 92,883, % 2 Special Revenue 519, ,277 16,507, % 3 Other Entities 6,202,986 6,202,986 34,763, % 4 Internal Service 1,830,687 1,830,687 26,874, % 5 Subtotal General Govt Operations 16,636,772 16,636, ,028, % 6 Capital Projects 520, ,541 16,656, % Enterprise Funds 7 Water & Power 7,658,766 7,658, ,498, % 8 Stormwater 553, ,650 6,397, % 9 Golf 209, ,430 4,081, % 10 Solid Waste 495, ,707 7,139, % 11 Subtotal Enterprise 8,917,553 8,917, ,116, % 12 Total Revenue $ 26,074,866 $ 26,074,866 $ 331,801, % Prior Year External Revenue 21,996,052 Increase From Prior Year 18.5% 13 Internal Transfers 1,404,157 1,404,157 42,093, % 14 Grand Total Revenues $ 27,479,024 $ 27,479,024 $ 373,894, % EXPENDITURES General Governmental 15 General Fund 9,981,719 9,981,719 82,077, % 16 Special Revenue 1,203,432 1,203,432 15,838, % 17 Other Entities 1,768,468 1,768,468 31,106, % 18 Internal Services 2,478,569 2,478,569 26,233, % 19 Subtotal General Gov't Operations 15,432,188 15,432, ,256, % 20 Capital 814, , ,025, % Enterprise Fund 21 Water & Power 2,020,155 2,020,155 88,932, % 22 Stormwater 241, ,214 5,178, % 23 Golf 204, ,721 3,539, % 24 Solid Waste 447, ,759 6,447, % 25 Subtotal Enterprise 2,913,849 2,913, ,097, % 26 Total Expenditures $ 19,160,738 $ 19,160,738 $ 402,380, % Prior Year External Expenditures 18,483,317 Increase (-Decrease) From Prior Year 3.7% 27 Internal Transfers 1,404,157 1,404,157 42,093, % 28 Grand Total Expenditures $ 20,564,896 $ 20,564,896 $ 444,473, % 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 Revenues $ 7,346,553 $ 8,083,822 $ 92,883, % 10.0% General Fund Expenditures 7,491,420 9,981,719 82,077, % 33.2% Water & Power Revenues 7,142,387 7,658, ,498, % 7.2% Water & Power Expenditures 4,808,135 2,020,155 88,932, % -58.0% Other Entities Revenues 3,761,357 6,202,986 34,763, % 64.9% Other Entities Expenditures $ 1,199,618 $ 1,768,468 $ 31,106, % 47.4% SnapShot 3

4 General Fund Revenues & Expenditures General Fund Revenue & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 226 $ 226 $ 8,599, % 3 Sales tax 4,937,924 4,937,924 42,729, % 4 Building use tax 94,933 94,933 2,774, % 5 Motor Vehicle Use Tax 347, ,481 3,529, % 6 Other taxes 174, ,739 3,333, % 7 Intergovernmental 5,384 5, , % 8 Building Permits 123, ,319 2,745, % 9 Other Permits 39,267 39, , % 10 Charges for Services 1,668,459 1,668,459 18,899, % 11 Fines & Forfeitures 59,846 59, , % 12 Interest Income 30,146 30, , % 13 Miscellaneous 602, ,096 8,047, % 14 Subtotal Operating 8,083,822 8,083,822 92,883, % 15 Interfund Transfers 5,545 5,545 66, % 16 Total Revenue $ 8,089,367 $ 8,089,367 $ 92,949, % EXPENDITURES 17 Legislative 8,992 8, , % 18 Executive & Legal 366, ,326 3,900, % 19 City Clerk & Court Admin 55,143 55, , % 20 Economic Development 84,082 84,082 1,262, % 21 Cultural Services 201, ,762 2,200, % 22 Development Services 326, ,443 3,949, % 23 Finance 555, ,552 5,935, % 24 Human Resources 146, ,386 1,439, % 25 Information Technology 692, ,392 4,713, % 26 Library 399, ,942 3,746, % 27 Parks & Recreation 1,100,124 1,100,124 12,324, % 28 Police 2,588,209 2,588,209 24,845, % 29 Public Works 435, ,113 6,468, % 30 Non-Departmental 3,258,026 3,258,026 12,923, % 31 Subtotal Operating 10,218,493 10,218,493 84,591, % 32 Internal Transfers 1,135,157 1,135,157 29,557, % 33 Total Expenditures $ 11,353,650 $ 11,353,650 $ 114,148, % 4

5 Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital Water Line Replacement $ - $ 603,180 $ 603, % Namaqua Hills Water Booster Station & Generator - 503, , % Raw Water Capital Purchase of CBT Water - 524, , % Wastewater Utility Capital WWTP Expansion 40,563 9,808,150 9,767, % CIPP Sewer Rehab - 1,049,000 1,049, % Power Capital Security Battery Replacements at Horseshoe and Crossroads - 500, , % Install 600 Amp Tie from Cascade West Along Hwy , , % Canyon Conversion - 700, , % Extension of 600 Amp from 14th St SW to Hwy 60 along Hwy 287-1,100,000 1,100, % OH to UG RR Tracks North of 10th between RR Ave. and Madison - 1,400,000 1,400, % OH to UG Foundry - 1,400,000 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, , % Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 6,783 1,210,207 1,203, % Madison Avenue Outfall Outlet Reconstruction - 704, , % Benson Park Culvert Improvements 2, , , % 2016 Stormwater Maintenance & Asset Mgmt Pjts - 560, , % Airport Basin North Outfall 1,993 1,494,271 1,492, % Streets Transportation Program R-O-W Acquisition - Citywide - 740, , % Taft Big Barnes Ditch 3,717 1,111,732 1,108, % Boyd/US34 Signal & Intersection Improvements 1,806 1,416,550 1,414, % Boyd Lake, US34, Mountain Lion Drive Intersection 41,719 2,416,587 2,374, % US 34 - Denver to Boyd Lake Widening 1, , , % 29th Street at Beech Ct Intersection - 500, , % Railroad Ave. Flood Repairs FHWA@20038ER ,644,327 5,643, % TABOR Access Bike, PED, & ADA Ramp Program - 664, , % Fire Apparatus Replacement - 684, , % Fire Training Center Property ($795,610 TABOR) - 1,391,220 1,391, % Police Records Management System - 1,398,157 1,398, % Police Training Facility ($405,000 TABOR) - 810, , % Sidewalk Installation (US287) - 702, , % Supplemental Bridge Repairs - 1,260,000 1,260, % All Other The Foundry - 3,000,000 3,000, % SnapShot 5

6 Tax Totals and Comparisons Sales & Use Tax % of Jan $ 4,908,517 $ 4,950,022 $5,380,338 49,034, % Feb 2,700,204 3,622,959 49,034, % Mar 4,007,386 3,411,932 49,034, % Apr 4,011,633 3,974,366 49,034, % May 3,611,468 3,699,643 49,034, % Jun 4,116,214 4,182,259 49,034, % Jul 4,375,627 4,229,851 49,034, % Aug 3,783,694 4,023,763 49,034, % Sep 4,170,066 4,045,789 49,034, % Oct 4,102,720 4,227,573 49,034, % Nov 3,572,713 4,140,427 49,034, % Dec 3,894,616 4,275,198 49,034, % $47,254,859 $48,783,782 $5,380,338 $49,034, % Sales Tax % of Jan $ 4,535,554 $ 4,365,416 $4,937,924 42,729, % Feb 2,235,775 3,190,005 42,729, % Mar 3,480,164 2,924,575 42,729, % Apr 3,521,350 3,504,812 42,729, % May 3,092,253 3,221,324 42,729, % Jun 3,208,195 3,346,764 42,729, % Jul 3,727,389 3,807,869 42,729, % Aug 3,389,010 3,563,493 42,729, % Sep 3,408,259 3,544,599 42,729, % Oct 3,642,285 3,763,070 42,729, % Nov 3,034,997 3,288,473 42,729, % Dec 3,486,297 3,363,390 42,729, % $40,761,528 $41,883,791 $4,937,924 $42,729, % 6

7 Tax Totals and Comparisons Building Use Tax % of Jan $ 114,444 $ 207,531 $94,933 2,774, % Feb 221, ,706 2,774, % Mar 261, ,825 2,774, % Apr 200, ,024 2,774, % May 248, ,935 2,774, % Jun 651, ,163 2,774, % Jul 358, ,024 2,774, % Aug 111, ,913 2,774, % Sep 462, ,173 2,774, % Oct 182, ,555 2,774, % Nov 223, ,754 2,774, % Dec 203, ,763 2,774, % $3,240,831 $3,332,366 $94,933 $2,774, % Motor Vehicle Use Tax % of Jan $ 258,519 $ 377,075 $347,481 3,529, % Feb 242, ,248 3,529, % Mar 265, ,532 3,529, % Apr 289, ,529 3,529, % May 270, ,384 3,529, % Jun 256, ,333 3,529, % Jul 289, ,958 3,529, % Aug 283, ,356 3,529, % Sep 299, ,018 3,529, % Oct 277, ,947 3,529, % Nov 313, ,200 3,529, % Dec 205, ,044 3,529, % $3,252,500 $3,567,625 $347,481 $3,529, % SnapShot 7

8 Geographical Codes Geographical Area YTD YTD 2016 Change South East Loveland $ 956,175 $ 830, % Centerra 477, , % North West Loveland 476, , % Promenade Shops 375, , % North East Loveland 366, , % Orchards Shopping Center 363, , % Thompson Valley Shopping Center 300, , % Outlet Mall 178, , % South West Loveland 168, , % Downtown 134, , % The Ranch 80,176 83, % Airport 69,957 72, % Columbine Shopping Center 64,993 67, % All Other Areas 925, , % Total $4,937,924 $4,365, % (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 YTD 2016 $ Change % Change % of Total Total % Department Stores & General Merchandise 906, ,851 $ 62, % 18.4% 18.4% Grocery Stores & Specialty Foods 660, ,866 38, % 13.4% 31.7% Restaurants & Bars 485, ,173 32, % 9.8% 41.6% Clothing & Clothing Accessories Stores 368, ,647 27, % 7.5% 49.0% Motor Vehicle Dealers, Auto Parts & Leasing 357, ,227 59, % 7.2% 56.3% Building Material & Lawn & Garden Supplies 286, , , % 5.8% 62.1% Sporting Goods, Hobby, Book & Music Stores 256, ,890 12, % 5.2% 67.3% Used Merchandise Stores 215, ,847 25, % 4.4% 71.6% Electronic Shopping & Mail-Order Houses 176,706 84,143 92, % 3.6% 75.2% Utilities 169, ,101 (13,030) -7.2% 3.4% 78.6% Consumer Goods & Commercial Equipment Rental 140, ,394 26, % 2.8% 81.5% Beer, Wine & Liquor Stores 124, ,596 19, % 2.5% 84.0% Electronics & Appliance Stores 117,843 82,444 35, % 2.4% 86.4% Broadcasting & Telecommunications 111, , % 2.3% 88.7% Health & Personal Care Stores 94,832 90,872 3, % 1.9% 90.6% Furniture & Home Furnishing Stores 72,438 66,818 5, % 1.5% 92.0% Hotels, Motels & Other Accommodations 72,420 72, % 1.5% 93.5% Gasoline Stations with Convenience Stores 35,134 34, % 0.7% 94.2% Office Supplies, Stationery & Gift Stores 28,599 22,246 6, % 0.6% 94.8% All Other Categories 256, ,220 21, % 5.2% 100.0% Total $ 4,937,924 $ 4,365,416 $ 572, % 100.0% 10

11 Lodging Tax Lodging Tax Revenue received in is at $47,612 year-to-date. 3.8% lower than 2016 YTD SnapShot 11

12 Change 2016 Health Care Claims Claims Incurred OAP HRA Total Jan 544, , ,574 YTD 544, , ,574 Jan 723, , ,853 YTD 723, , ,853 Jan (178,646) (14,633) (193,279) % Jan -24.7% -11.0% -22.6% YTD (178,646) (14,633) (193,279) % YTD -24.7% -11.0% -22.6% 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 $525,954 $389,903 $351,401 $50,432 # of StopLoss claims: 0 Projected YTD Reimbursements: $0 (claims over $175k paid by StopLoss Carrier) 12

13 Monthly Flood Update Cost Estimates Emergency Response $ 2,000,000 Business Assistance 600,000 Capital 36,157,667 Total $ 38,757,667 Expenditures To Date Total $ 159,143 $ 28,422,392 Reimbursements Applied For To Date FEMA $ 160,818 $ 16,593,554 CIRSA - 7,119,891 Other 32,502 1,898,530 Total Reimbursements Received $ 193,320 $ 25,611,975 To Date FEMA $ 29,979 $ 13,156,228 CIRSA - $ 7,119,891 Other 32,502 $ 1,898,530 Total $ 62,481 $ 22,174,649 SnapShot 13

14 Activity Measures Measures Jan 2015 Jan 2016 Jan 2015 YTD 2016 YTD YTD # of Building Permits Building Permit Valuations $7,240,995 $17,316,862 $5,712,571 $7,240,995 $17,316,862 $ 5,712,571 # of Certified Occupancies Net # of Sales Tax Licenses (6) 4 (2) (6) 4 (2) New Residential Electric Meter Sets # of Utility Bills Sent 37,221 38,221 38,939 37,221 38,221 38,939 Rounds of Golf 1,750-1,145 1,750-1,145 $ Average Health Claim Costs/Emp. $1,457 $1,228 $1,360 $ 1,418 $ 1,187 #DIV/0! KWH Demand (kh) 100,446 95, , ,446 95, ,921 KWH Purchased (kwh) 65,844,004 61,600,154 61,790,782 65,844,004 Gallons of Water Sold 161,584, ,535, ,293, ,584,081 61,600, ,535,391 61,790, ,293,607 # of Workers' Comp Claims $ of Workers' Comp Claims $63,087 $19,514 $22,286 $63,087 $19,514 $22,286 # of Total Open Claims Not Cumulative $ of Total Open Claims 219, , ,941 Not Cumulative $ of Lodging Tax Collected $55,525 $49,420 $47,612 $55,525 $49,420 $47,612 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