Monthly Financial Report

Transcription

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 Health Care Claims 12 Flood Update 13 Activity Measures 14 Monthly Financial Report Citywide Revenue, $46.0 million (13.8% of the total annual budget Sales & Use Tax Collections, $8.9 million (18.3% of total annual budget) Citywide Expenditures, $38.2 million (9.4% of total annual budget) Citywide Total Revenues exceed Citywide Total Expenditures by $7.8 million General Fund Revenue, $14.8 million (16.0% of total annual budget) General Fund Expenditures, $16.6 million, (19.6% of total annual budget) General Fund Expenditures (including transfers) exceed Revenues (including transfers) by $3.0 million; General Fund Year-to-Date Operating Expenditures (excluding transfers) exceed General Fund Year-to-Date Operating Revenues (excluding transfers and capital) by $1.7 million. Sales / Use Tax Basics 500 East 3rd Street Loveland, CO (970) Sales Tax Motor Vehicle Use Tax Building Use Tax Combined $ 85,459,084 $ 7,059,844 $ 5,549,346 $ 98,068,274 8,067, , ,575 8,941,105 % of 9.4% 8.0% 5.6% 18.3% 2016 $ 7,555,421 $ 634,323 $ 383,236 $ 8,572,980 Change from prior year 6.8% -11.2% -19.0% 4.3% 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 $ 6,748,066 $ 14,831,888 $ 92,883, % 2 Special Revenue 559,876 1,079,152 16,507, % 3 Other Entities 1,509,996 7,712,983 34,763, % 4 Internal Service 1,992,034 3,822,721 26,874, % 5 Subtotal General Gov t Operations 10,809,972 27,446, ,028, % 6 Capital Projects 868,197 1,388,737 17,156, % Enterprise Funds 7 Water & Power 7,060,079 14,718, ,498, % 8 Stormwater 551,702 1,105,352 6,397, % 9 Golf 155, ,040 4,081, % 10 Solid Waste 495, ,292 7,139, % 11 Subtotal Enterprise 8,262,976 17,180, ,116, % 12 Citywide Total Revenues $ 19,941,144 $ 46,016,011 $ 332,301, % Prior Year External Revenue 40,314,370 Increase From Prior Year 14.1% 13 Internal Transfers 190,217 1,594,374 43,635, % 14 Grand Total Revenues $ 20,131,361 $ 47,610,385 $ 375,936, % EXPENDITURES General Governmental 15 General Fund 6,045,337 16,027,055 82,242, % 16 Special Revenue 1,061,318 2,264,750 15,881, % 17 Other Entities 1,549,843 3,318,311 31,106, % 18 Internal Services 1,371,297 3,849,866 26,233, % 19 Subtotal General Gov't Operations 10,027,794 25,459, ,463, % 20 Capital 2,131,912 2,946, ,025, % Enterprise Fund 21 Water & Power 5,990,886 8,011,041 88,932, % 22 Stormwater 340, ,249 5,178, % 23 Golf 160, ,522 3,539, % 24 Solid Waste 407, ,201 6,447, % 25 Subtotal Enterprise 6,899,165 9,813, ,097, % 26 Citywide Total Expenditures $ 19,058,871 $ 38,219,609 $ 404,586, % Prior Year External Expenditures 38,229,149 Increase (-Decrease) From Prior Year 0.0% 27 Internal Transfers 190,217 1,594,374 43,635, % 28 Grand Total Expenditures $ 19,249,087 $ 39,813,983 $ 448,221, % 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 $ 13,734,498 $ 14,831,888 $ 92,883, % 8.0% General Fund Expenditures 12,801,083 16,027,055 82,242, % 25.2% Water & Power Revenues 13,976,055 14,718, ,498, % 5.3% Water & Power Expenditures 10,008,264 8,011,041 88,932, % -20.0% Other Entities Revenues 4,921,640 7,712,983 34,763, % 56.7% Other Entities Expenditures $ 2,377,859 $ 3,318,311 $ 31,106, % 39.6% SnapShot 3

4 General Fund Revenues & Expenditures General Fund Revenue & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 286,998 $ 287,223 $ 8,599, % 3 Sales tax 3,111,483 8,049,407 42,729, % 4 Building use tax 215, ,575 2,774, % 5 Motor Vehicle Use Tax 270, ,432 3,529, % 6 Other taxes 397, ,069 3,333, % 7 Intergovernmental 5,612 10, , % 8 Building Permits 167, ,852 2,745, % 9 Other Permits 12,764 52, , % 10 Charges for Services 1,572,665 3,241,124 18,899, % 11 Fines & Forfeitures 60, , , % 12 Interest Income 17,264 47, , % 13 Miscellaneous 629,738 1,231,834 8,047, % 14 Subtotal Operating 6,748,066 14,831,888 92,883, % 15 Interfund Transfers 5,545 11,091 66, % 16 Total Revenues $ 6,753,611 $ 14,842,978 $ 92,949, % EXPENDITURES 17 Legislative 13,842 22, , % 18 Executive & Legal 268, ,288 3,900, % 19 City Clerk & Court Admin 46, , , % 20 Economic Development 77, ,961 1,262, % 21 Cultural Services 168, ,391 2,200, % 22 Development Services 261, ,294 3,949, % 23 Finance 454,658 1,010,211 6,044, % 24 Human Resources 137, ,678 1,439, % 25 Information Technology 400,901 1,093,293 4,719, % 26 Library 292, ,799 3,746, % 27 Parks & Recreation 906,546 2,006,670 12,374, % 28 Police 1,841,309 4,429,518 24,845, % 29 Public Works 530, ,413 6,468, % 30 Non-Departmental 960,478 4,218,504 12,923, % 31 Subtotal Operating 6,361,776 16,580,269 84,755, % 32 Internal Transfers 159,143 1,294,300 31,099, % 33 Total Expenditures $ 6,520,919 $ 17,874,569 $ 115,855, % 4

5 Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital WTP Phase II Expansion (38 MGD) $ 579,277 $ 10,704 $ 568, % Namaqua Pump Stations & Tank Improvements 791, , % Foundry Waterline Improvements 508,000 7, , % Raw Water Capital Windy Gap Firming 1,386,762-1,386, % Purchase CBT Water 524, , % Wastewater Utility Capital WWTP Expansion 35,141,064 59,293 35,081, % Southside Lift Station 1,464,544 17,496 1,447, % CIPP Sewer Rehab 1,049,000-1,049, % South Catalyst Sewer Improvements 507,050 8, , % Power Capital Security Gates and Fences at Subdivisions 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 Ave 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, , % 29th and Rio Blanco 785, , % OH to UG Conversion - Hwy 287 from 42nd st to 57th street 644,845 61, , % FEMA Power Alt Project - Substation 4,000,000-4,000, % Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 1,210,207 14,562 1,195, % Madison Avenue Outfall Outlet Reconstruction 704, , % Benson Park Culvert Improvements 913,510 20, , % 2016 Stormwater Maintenance & Asset Mgmt Pjts 560, , , % Maintenance & Asset Management Projects 406,511 6, , % Airport Basin North Outfall 1,495,740 77,862 1,417, % Streets Transportation Program R-O-W Acquisition - Citywide 740, , % Taft Big Barnes Ditch 1,111,732 17,593 1,094, % Boyd/US34 Signal & Intersection Improvements 1,416,550 2,142 1,414, % Boyd Lake, US34, Mountain Lion Drive Intersection 2,416,587 46,588 2,369, % US 34 - Denver to Boyd Lake Widening 500,000 6, , % 29th Street at Beech Ct Intersection 549,975 5, , % Garfield - 10th to 23rd 790,067 7, , % Railroad Ave. Flood Repairs FHWA@20038ER1 5,644,327 5,378 5,638, % TABOR Access Bike, PED, & ADA Ramp Program 664, , % Fire Apparatus Replacement 684, , % Fire Training Center Property ($795,610 TABOR) 2,332,120-2,332, % 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, ,472 2,831, % Flood Damage at the Trails 600,000 77, , % Cemetery Maintenance Shop and Office 587, , % Long View Trail 961,743 3, , % River's Edge Open Lands 803, , % Land Purchases (N Namaqua Avenue, Ward, Boise, and Osborne) 3,374,523-3,374, % 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 3,616,075 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 $8,996,414 $49,034, % Sales Tax % of Jan $ 4,535,554 $ 4,365,416 $4,937,924 42,729, % Feb 2,235,775 3,190,005 3,129,483 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 $8,067,407 $42,729, % 6

7 Tax Totals and Comparisons Building Use Tax % of Jan $ 114,444 $ 207,531 $ 94,933 2,774, % Feb 221, , ,642 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 $310,575 $2,774, % Motor Vehicle Use Tax % of Jan $ 258,519 $ 377,075 $347,481 3,529, % Feb 242, , ,642 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 $563,123 $3,529, % SnapShot 7

8 Geographical Codes Geographical Area YTD YTD 2016 Change South East Loveland $ 1,691,374 $ 1,629, % North West Loveland 797, , % Centerra 732, , % North East Loveland 679, , % Orchards Shopping Center 569, , % Promenade Shops 525, , % Thompson Valley Shopping Center 449, , % South West Loveland 277, , % Outlet Mall 259, , % Downtown 224, , % The Ranch 144, , % Columbine Shopping Center 121, , % Airport 117, , % All Other Areas 1,475,963 1,245, % Total $8,067,407 $7,555, % (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 1,430,512 1,453,619 $ (23,107) -1.6% 17.7% 17.7% Grocery Stores & Specialty Foods 1,019, ,674 66, % 12.6% 30.4% Restaurants & Bars 926, ,698 35, % 11.5% 41.9% Motor Vehicle Dealers, Auto Parts & Leasing 606, , , % 7.5% 49.4% Building Material & Lawn & Garden Supplies 526, ,672 50, % 6.5% 55.9% Clothing & Clothing Accessories Stores 509, ,305 3, % 6.3% 62.2% Utilities 401, ,015 6, % 5.0% 67.2% Sporting Goods, Hobby, Book & Music Stores 370, ,130 (3,271) -0.9% 4.6% 71.8% Used Merchandise Stores 349, ,729 71, % 4.3% 76.1% Electronic Shopping & Mail-Order Houses 253, , , % 3.1% 79.3% Consumer Goods & Commercial Equipment Rental 220, ,212 31, % 2.7% 82.0% Broadcasting & Telecommunications 209, ,071 (3,690) -1.7% 2.6% 84.6% Beer, Wine & Liquor Stores 205, ,550 23, % 2.5% 87.1% Electronics & Appliance Stores 170, ,060 (14,310) -7.7% 2.1% 89.3% Health & Personal Care Stores 146, ,805 1, % 1.8% 91.1% Hotels, Motels & Other Accommodations 133, ,524 (4,721) -3.4% 1.7% 92.7% Furniture & Home Furnishing Stores 112, ,227 3, % 1.4% 94.1% Gasoline Stations with Convenience Stores 66,865 65,823 1, % 0.8% 94.9% Office Supplies, Stationery & Gift Stores 47,074 54,024 (6,950) -12.9% 0.6% 95.5% All Other Categories 360, ,796 52, % 4.5% 100.0% Total $ 8,067,407 $ 7,555,421 $ 511, % 100.0% 10

11 Lodging Tax Lodging Tax Revenue received in is $97,135 year-to-date. 5.9% lower than 2016 YTD SnapShot 11

12 Change 2016 Health Care Claims Claims Incurred OAP HRA Total Feb 719,062 73, ,939 YTD 1,263, ,844 1,456,513 Feb 852, , ,285 YTD 1,575, ,351 1,840,138 Feb (133,472) (56,874) (190,346) % Feb -15.7% -43.5% -19.4% YTD (312,118) (71,507) (383,625) % YTD -19.8% -27.0% -20.8% 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 $1,219,575 $1,066,290 $875,394 $499,899 # of StopLoss claims: 1 Projected YTD Reimbursements: $16,973 (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 $ 594,451 $ 29,016,843 Reimbursements Applied For To Date FEMA $ - $ 16,593,554 CIRSA 39,008 7,158,899 Other 140,600 2,039,130 Total Reimbursements Received $ 179,608 $ 25,791,584 To Date FEMA $ 155,033 $ 13,311,262 CIRSA 39,008 $ 7,158,899 Other 140,600 $ 2,039,130 Total $ 334,641 $ 22,509,290 SnapShot 13

14 Activity Measures Measures Feb 2015 Feb 2016 Feb 2015 YTD 2016 YTD YTD # of Building Permits Building Permit Valuations $14,848,857 $13,103,882 $ 15,525,303 $ 22,089,852 $ 30,420,744 $ 21,237,874 # of Certified Occupancies Net # of Sales Tax Licenses (42) (17) (22) (48) (13) (24) New Residential Electric Meter Sets # of Utility Bills Sent 37,270 38,201 38,838 74,491 76,422 77,777 Rounds of Golf 2,962 2,423 3,690 4,712 2,423 4,835 $ Average Health Claim Costs/Emp. $ 1,651 $ 1,403 $ 1,343 $ 1,554 $ 1,315 $ 1,352 KWH Demand (kh) 95,951 94,900 93, , , ,913 KWH Purchased (kwh) 58,165,978 57,476,136 52,262, ,009, ,076, ,053,676 Gallons of Water Sold 150,695, ,218, ,940, ,279, ,754, ,233,759 # of Workers' Comp Claims $ of Workers' Comp Claims $ 73,554 $ 23,547 $ 21,602 $ 136,641 $ 43,061 $ 43,888 # of Total Open Claims Not Cumulative $ of Total Open Claims $ 286,228 $ 317,204 $ 371,540 Not Cumulative $ of Lodging Tax Collected $ 55,385 $ 53,751 $ 49,523 $ 110,910 $ 103,171 $ 97,135 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