GENERAL FUND OVERVIEW BTD Projection BTD Actuals BTD BTD % $ 450,69,075 $ 9,060,86 $,,08 $,07,64.6% Expenditures $ 47,660,4 $ 07,478,7 $ 0,508,57 $ 4,969,6 4.6% Revenue Over Expenditure (Fund Balance) $ (,9,59) $,58,49 $ 9,64,5 $ 8,04,6 SUMMARY Through the first six months of the 07-08 Biennium, revenues and expenditures were favorable, resulting in an overall $8.0 million positive position. REVENUE OVERVIEW Through 07, General Fund revenues were favorable by approximately $. million. Utility Taxes (+$.M), Intergovernmental (+$9k), Licenses & Permits (+$44k), and Miscellaneous (+$46k) explain the majority of the positive variance. The favorable variance in utility taxes is due to greater than anticipated use of scale-house and commercial solid waste, power sales, and positive trends in water. Intergovernmental Services favorable variance is due to greater than anticipated revenues in fire protection services and in liquor excise tax. The favorable variance for Licenses & Permits is due to the timing of billing for annual business licenses and greater than anticipated use of alarm monitors. Also, business license penalties are positive due to increases in the cost of an annual business license. Positive Miscellaneous variance is due to greater than anticipated interest earnings, animal license fees, and early payment for Build America Bond federal subsidies. EXPENDITURE OVERVIEW Through 07, General Fund expenditures were favorable by approximately.0 million. Most departments are experiencing favorable variances as a result of vacancies or expenditures that have been deferred. The three departments with the largest favorable variances are Police (+$.8M), Neighborhood & Community Services (+$.0M), and Non-Departmental (+$.9M). The Police Department has a favorable variance due to personnel and fuel savings. Neighborhood & Community Services has a favorable variance due to vacancy savings and delayed spending on human services contracts. Non-Departmental has a favorable variance due to a combination of delayed billing and underexpensed jail services, lower than projected fire pension expenses, and delayed payments to Metro Parks. It is important to note that the current jail contract and fire pension savings could unpredictably be expended due to the high amount of unceratainty and risk associated with these contracts. Prepared By The Office of Management and Budget Through 0, 07 GENFUND Overview All financial data is from the City's financial management system. This is an unaudited financial report.
GENERAL FUND REVENUE OVERVIEW Revenue Category Jun 07 BTD Plan Jun 07 BTD Act BTD Projection BTD Actuals BTD BTD % Property Tax $ 5,955,84 $ 0,67,5 $ 0,8,748 $ 4,4 0.5% Sales Tax 05,809,85 5,64,69 5,8,08 68,9 0.7% Business Tax 94,6,5 5,94,05 5,47,689,674 0.9% 4 Utility Tax 86,97,859,07,54,79,08,07,59 4.8% 5 Intergovernmental 9,68,79 5,566,7 5,885,60 8,880 5.7% 6 Licenses & Permits,640,800 5,450,68 5,89,98 44,760 8.% 7 Charges for Services 6,8,758,55,60,659,78 07,80 6.9% 8 Other Taxes,77,884 95,09,047,544,5.0% Fines & Forfeits,9,0 44,45 405,66 60,8 7.7% 9 Miscellaneous,9,66,49,6,99,88 46,08 8.5% Total $ 450,69,075 $ 9,060,86 $,,08 $,07,64.6% Use of Fund Balance (Negative value denotes addition to cash) $,9,59 $ (,58,49) Total $ 47,660,4 $ 07,478,7 Analysis for revenue variances are provided for all line items in which the actual amount differs from the planned amount by at least 0.0% or $00,000. VARIANCE NOTES Property Tax - variance is due to greater than anticipated revenue from timely property tax payments (+$4k). Sales Tax - variance is due to higher than anticipated trends in sales and use tax (+$89k), and Natural Gas Use Tax (+$69k). Business Tax - variance is due to higher than anticipated revenues in cell phone (+$40k), telephone tax (+$55k), cable television tax (+$k), retail service taxes (+$06k), and the continuing positive trend in natural gas tax (+$4k). These offset the overall continuing negative trend in retailing tax (-46k) and less than anticipated revenue in service tax (-$0k). 4 Utility Tax - variance is due to greater than anticipated use of scale-house and commercial solid waste (+$54k), positive trends in water sales (+$6k), and retail and wholesale sales in power (+$45), 5 Intergovernmental - variance is due to greater than anticipated revenues in fire protection services (+$5k) and in liquor excise tax (+$78k). 6 Licenses & Permits - variance is due to the timing of billing for annual business licenses (+$60k) and greater than anticipated use of alarm monitors (+$k). Also, business license penalties are positive due to increases in the cost of an annual business license (+$55k). 7 Charges For Services - variance is due to greater than anticipated revenues in processing fees (+$84k). 8 Other Taxes - variance is due to greater than anticipated revenues in leasehold excise taxes (+$0k). 9 Miscellaneous - variance is due to greater than anticipated interest earnings (+$67k), animal license fees (+$8k), and early payment for Build America Bonds federal subsidy (+$0k). Prepared By The Office of Management and Budget Through 0, 07 GENFUND Rev All financial data is from the City's financial management system. This is an unaudited financial report.
GENERAL FUND REVENUES $40 $5 $0 $5 $0 $5 $0 ALL REVENUE SOURCES Monthly Actual,77,9 Monthly Actual $ $ 50,0 $,879,94 7,95,90 6,9,475 (64,46),664,584,09,46 64,76 6,8,665 7,740,075,556,40 4,570,569 5,95,97 75,59 8,067,746 8,56,6 88,57 4,00,776 #N/A #N/A 4,7,904 #N/A #N/A 0,997,08 #N/A #N/A 5,4,70 #N/A #N/A,85,096 #N/A #N/A 7,040,470 #N/A #N/A 07 Total $,747,084 $,,08 $,07,64 PROPERTY TAX $5 $0 $5 $0 Monthly Actual Monthly Actual $ 58,749 $ 67,800 $ 9,05 5,576 7,78 (,858) 76,050 75,707 9,657,769,659,54,884 (5,775) 0,5,48 9,70,86 (594,60) 6,450,8 7,407,777 956,967 7,80 #N/A #N/A 0,005 #N/A #N/A 56,79 #N/A #N/A,58,499 #N/A #N/A 9,0,69 #N/A #N/A 5,8,6 #N/A #N/A 07 Total $ 57,56,009 $ 0,8,748 $ 4,4 SALES TAX $6 $4 $ $ $ Monthly Actual Monthly Actual $ 4,98,58 $ 4,6, $ 6,054 5,74,54 5,5,847 78,04 4,056,448,95,090 (4,58),796,67,786,40 (0,4) 4,0,897 4,46,88 59,90 4,04,45 4,0,875 9,44 4,9,876 #N/A #N/A 4,445,50 #N/A #N/A 4,78, #N/A #N/A 4,44,5 #N/A #N/A 4,9,090 #N/A #N/A 5,9,09 #N/A #N/A 07 Total $ 5,590,69 $ 5,8,08 $ 68,9 GENFUND Rev Charts All financial data is from the City's financial management system. This is an unaudited financial report.
GENERAL FUND REVENUES BUSINESS TAX $7 $6 $4 $ $ $ Actual Monthly Actual Monthly $ 5,97,05 $ 6,7,09 $ 00,005 6,47,0 6,04,978 (68,),54,77,74,47 (50,470) 4,40,57 5,54,855,,8 5,90,994 5,45,09 44,5,48,596 75,6 (7,5) 4,670,565 #N/A #N/A 5,04,987 #N/A #N/A,57,06 #N/A #N/A 4,705,966 #N/A #N/A 5,069,789 #N/A #N/A,57,86 #N/A #N/A 07 Total $ 47,97,0 $ 5,47,689 $,674 UTILITY/GROSS EARNINGS TAX $4 $ $ $ Actual Monthly 4,07,68 Actual Monthly $ $ (95,9) $,84,75,896,75 4,095,878 99,6,86,67,785,90 (0,878),7,97 4,46,58 4,547,406,6,466,548 60,87,7,75,94,0 65,70,06,656 #N/A #N/A,9,7 #N/A #N/A,589,006 #N/A #N/A,50,970 #N/A #N/A,967,49 #N/A #N/A,7,459 #N/A #N/A 07 Total $ 4,58,785 $,79,08 $,07,59 OTHER REVENUES (Intergovernmental, Licenses & Permits, Charges for Service, Fines & Forfeits, and Miscellaneous ) $8 $7 $6 $4 $ $ $ Actual Monthly Actual Monthly $ 6,90,4 $ 7,6,66 $ 5,85,99,99,40,05 (59,877),54,0,8,9 677,80,490,79,748,578 57,787,55,04,0,49,055,456,846,5,56,7 (689,908),54,860 #N/A #N/A,4,686 #N/A #N/A,45,98 #N/A #N/A,6,60 #N/A #N/A,08,59 #N/A #N/A,94,70 #N/A #N/A 07 Total $ 4,45,08 $ 6,80,48 $,467,09 Prepared By The Office of Management and Budget Through 0, 07 GENFUND Rev Charts All financial data is from the City's financial management system. This is an unaudited financial report. 4
GENERAL FUND EXPENDITURE OVERVIEW Department Jun 07 BTD Plan Jun 07 BTD Act BTD BTD Projection BTD Actuals $ $,4,604 8,47 BTD % City Attorney's Office $ 5,64,99,80,0 $.0% City Manager's Office,00,76 44,458 00,6 4,845 7.9% Community & Economic Development 9,58,0,8,06,8,807 64,99 7.% Finance 6,96,66,757,054,807,0 (49,959) -.8% Fire 5,986,89 8,460,670 9,047,96 (587,9) -.% Library 6,88,95 6,44,989 6,044,559 99,4 6.% Municipal Court 8,5,90,09,8,97,59 68,4.% 4 Neighborhood & Community Services,87,68 5,088,797 4,057,796,0,00 0.% Planning & Development Services,77,764 854,957 756,77 98,0.5% 5 Police 58,4,45 8,97,89 6,490,7,807,576 4.7% Public Works 4,886,05,06,96,64,806 4,57.5% 6 Non-Departmental 09,0,67 9,50,96 7,606,7,9,674 9.8% Total Expenditures $ 47,660,4 $ 07,478,7 $ 0,508,57 $ 4,969,6 4.6% Analysis for expenditure variances are provided for all departments in which the actual amount differs from the planned amount by at least $00,000. 4 5 6 VARIANCE NOTES Community & Economic Development - variance is due to vacancies and labor savings (+$9k), delayed Arts & Events external contract payments (+$58k), and planning delays for professional service contracts (+$49k). Fire - Unfavorable variance is due TFD's practice of hiring recruit classes ahead of retirements. This resulted in additional salaries and wages paid (- $00k), education and training expenses (-$50k), leave severance and PTO payouts (-$85k), and overtime expenses (-$80k). Negative variances in personnel are partially offset by savings in non-personnel related items (+$70k). Library - variance is due to vacancy savings (+$78k), delayed spending on operating and computer supplies (+6k), professional services (+$6k), and library materials (+$60k). Neighborhood & Community Services - variance is due to labor savings and vacancies (+$0k) and delayed spending on human services contracts (+$664k). Police - variance is due to personnel vacancy savings and delayed union contract settlement (+$.6M). This personnel savings variance will be reduced once a union contract settlement is reached. Fuel savings also accounts for a portion (+$7k) of the Police Department expenditure variance. Non-Departmental - variance is due to a combination of delayed billing (+$40k) and underexpensed jail services (+6k), lower than projected fire pension expenses (+$745k), and delayed payments to Metro Parks (+$40k). It is important to note that the current jail contract and fire pension savings could unpredictably be expended due to the high amount of unceratainty and risk associated with these contracts. Prepared By The Office of Management and Budget Through 0, 07 GENFUND Exp All financial data is from the City's financial management system. This is an unaudited financial report. 5
OTHER FUNDS OVERVIEW (REVENUE AND EXPENSE) Jun 07 BTD Pla Jun 07 BTD Act Fund BTD Projection BTD Actuals BTD BTD % SPECIAL REVENUE FUNDS 05 Voted Streets Initiative Fund 40,9,48 0,577,50,00,807 44,77 4.% Expenditures 9,948,5 8,86,85 4,40,97,855,908 46.5% PW Street Operations & Engineering 45,76,466,0,405,96,780 (4,66) 0.0% Expenditures 46,00,640,796,89 0,60,6,65,677 9.9% TFD Emergency Medical Services 7,44,586 7,8,77 7,94,975 76,0.% Expenditures 9,878,70 7,46,899 6,99,944 406,955 5.5% 4 Municipal Cable TV 7,607,604,879,08,877,4 (,65) -0.% Expenditures 7,9,857,84,4,49,584 4,848.0% Traffic Enforcement, Engineering & Education 6,797,464,7,885,7,4 9,548.% Expenditures 6,797,464,676,5,65,4 6,7.6% ENTERPRISE FUNDS 5 Permit Services 8,8,786 4,558,06 5,48,784 880,678 9.% Expenditures 8,97,554 4,668,957 4,78,88 90,9 8.4% 6 PW Parking Operations 5,40,60,79,800,975,55 8,455 4.8% Expenditures 6,4,74,656,809,59,99 6,87.4% 7 TVE Convention Center,04,64 4,068,94 4,7,960 05,06 7.5% Expenditures,04,64,98,766,90,09 80,67.0% 8 TVE Cheney Stadium,49,69 55,9 640,555 5,6.9% Expenditures,949,69 578,68 7,8 (55,94) -6.8% 9 TVE Tacoma Dome 7,,550 4,55,069 5,8,67 60,568.8% Expenditures 8,005,550 4,509,978 4,06,868 0,09 4.5% 0 TVE Theaters 5,955,07,49,9 55,54 (98,765) -6.0% Expenditures 5,997,459,499,570 597,69 90,94 60.% ES Solid Waste 0,94,894,66,67,887,07,5,806 7.0% Expenditures 4,7,64 8,874,7,96,9 7,677,86 9.7% ES Wastewater 54,6,77 6,650, 8,5,887,88,555 5.% Expenditures 84,907,5 46,79,75 9,407,684 7,,05 5.7% ES Surface Water 74,79,000 6,880,760 7,60,00 79,40 4.% Expenditures 86,587,589 0,64, 4,,796 6,59,7.6% INTERNAL SERVICE FUNDS 4 PW Fleet Equipment Rental 5,49,85 5,7,84 5,65,07 6,787 4.9% Expenditures 5,87,95 5,465,68 5,07,05 448,585 8.% 5 PW Asphalt Plant 4,800,000,00,000 78,485 (47,55) -4.8% Expenditures,555,055 887,08 768,87 8,44.% 6 Radio Communications 5,77,77,579,557,640,6 60,680.8% Expenditures 5,0,89,54,8,87,49 6,969 5.0% 7 Municipal Building Acquisition & Operations 9,545,88,8,57,00,8 79,6.5% Expenditures,86,08,767,99,88,99 (60,07) -.% General Government Internal Services 8,57,8 8,508,056 8,40,569 (97,487) -0.% Expenditures,647,540 7,544,056 5,645,048,899,008 6.9% Note: In instances where revenues for the biennium do not match expenditures, cash balance is being utilized. General Fund Supported Funds shaded grey. Other Funds All financial data is from the City's financial management system. This is an unaudited financial report. 6
OTHER FUNDS OVERVIEW (REVENUE AND EXPENSE) VARIANCE NOTES 4 5 6 7 8 9 0 05 Voted Streets Initiative Fund - : due to better than planned gross earnings tax revenues (+$85k) and property tax revenues (+58k) and a contribution from Puyallup Tribe of Indians (+$8k). Expenditures: due to the seasonal nature of street maintenance work. PW Street Operations & Engineering - Expenditures: due to delayed contracts for bridge repair and maintenance (+$80k) and delayed review work for Sound Transit for Link extension (+00k). TFD Emergency Medical Services - Expenses: due to vacancy (+$75k), fleet (+$6k), and profsessional services savings (+$5k). Municipal Cable TV - Expenses: due to vacancies (+$4k) and delayed capital projects (+$78k), and delayed spending on the civic engagement study and CityNet Phase II (+$96k). Permit Services - : due to issuing more permits over 00K than planned (+$880k). Expenditures: due to personnel savings (+$78k) and delayed contracts (+$99k). PW Parking Operations - : due to better than planned hourly and monthly parking revenue (+$70k), offset by less than planned parking infractions revenue (-$5k) due to vacancies and less than planned rental revenue (-$75k). TVE Convention Center - : due to higher than anticipated rent, hotel/motel tax, and miscellaneous revenue (+$05k). Expenses: due to delayed debt service payments (+$k) and various other line item savings (+0k). TVE Cheney Stadium - : variance is the result of a transfer (+$00k) that was made earlier than planned to fund an emergency HVAC repair. Expenditures: Unfavorable due to the unexpected repairs previously mentioned (-$55k). TVE Tacoma Dome - : due to an increased quantity and different mix of shows resulting in increased revenue in ticketing, parking, concessions, and facility fees (+$.M) but is offset by delayed capital project contributions (-00k). Expenditures: due to delayed capital spending (+$00k). TVE Theaters - Revenue: Transfers are made to the Theaters fund as necessary for reimbursement. There has been minimal spending from the Broadway Center for the Performing Arts so both transfers in (revenue) and reimbursements (expenditures) are below projections. ES Solid Waste - : due to due to commercial collection (+$M) and self-haul disposal (+$.M) performing better than planned due to the increased business activity and economic growth. Expenditures: due to fleet maintenance and fuel savings (+$700k), offset by increased Gross Earnings Tax payments (- $80k). Planned capital purchases not yet completed account for the positive capital variance. ES Wastewater - : due to commercial collections (+$68k) performing better than planned due to the increased business activity, increased interlocal billings (+$900k) as a result of the recalculation of the rate based on 06 results, and additional revenue from increased leachate treatment (+$490k), offset by decreased rental revenue (-$80k). Expenditures: due to personnel savings (+45k), timing of various maintenance and operating activities (+$405k) and fleet maintenance/fuel savings (+$95k). Planned capital projects not yet completed account for the positive capital variance. $4M in capital work has shifted to 08. 4 5 6 7 ES Surface Water - : due to surface water revenues performing better than planned (+40k), investment earnings (+0k), and site development fees (+$90k). Expenses: Positive expenditure variance in operating is due to personnel savings ($45k), timing of various maintenance and operating activities ($50k), and fleet maintenance/fuel savings ($8k). Planned capital projects not yet completed account for the positive capital variance. $.7M in capital work has shifted to 08. PW Fleet Equipment Rental - : due to the timing of delivery and subsequent contributions for vehicle and equipment replacements. Expenditures: due to the timing of vehicle purchases. PW Asphalt Plant - : Unfavorable due to delays in revenue posting caused by scale software issues. Expenses: due to decreased purchases of supplies and materials. Radio Communications - Expenses: due to delayed spending on capital projects (+$40k) and maintenance expense (+$5k). Municipal Building Acquisition & Operations - : due to unplanned settlement for Marine Security Operations Center dock (+$65k) and unplanned work for non-rent paying customers (+$70k). Other Funds Notes All financial data is from the City's financial management system. This is an unaudited financial report. 7
GENERAL GOVERNMENT INTERNAL SERVICE FUND OVERVIEW Department City Attorney's Office $,77,09 $,996,040,55,9 Jun 07 BTD Plan Jun 07 BTD ACT Jun 07 BTD Var BTD BTD % BTD Projection BTD Actuals $ $ 44,848 4.8% City Council,664,44 694,98 700,95 (6,554) -0.9% City Manager's Office 7,885,095,960,6,9,5 8,7.0% Environmental Services,5,887 8,8 9,48 (,099) -0.% Finance 9,8,57 4,84,69 4,4,479 78,40 5.0% Hearing Examiner 884,697 7,67 9,0 (,766) -0.0% Human Resources 0,97,709,98,709,74,58 57,8 8.6% 4 Information Technology 54,74,45,77,59,46,7 47,8.7% 5 Office of Management & Budget,,860 759,885 645,679 4,07 5.0% Total Expenditures $,647,540 $ 7,544,056 $ 5,645,048 $,899,008 6.9% Analysis for expenditure variances are provided for all departments in which the actual amount differs from the planned amount by at least $00,000. 4 5 VARIANCE NOTES City Attorney's Office - variance is due to personnel savings (+$66k) and delayed spending on legal services (+$k) and other external contracts (+$48k). Finance - variance is due to vacancies (+$465k) and investment management fees and Ariba invoice uploads (+$4k). Human Resources - variance is due to vacancy savings (+$70k), delayed training (+$9k) and other external contracts (+$80k), but is partially offset by greater than planned spending in legal services (-$k) and professional services (-$7k). Information Technology - variance is due to vacancy savings (+k) and delayed spending on professional services (+$740k), but partially offset due to capital project spending (-$98k). Office of Management & Budget - variance is due to vacancies that are now filled (+$0k). Prepared By The Office of Management and Budget Through 0, 07 GenGov ISF All financial data is from the City's financial management system. This is an unaudited financial report. 8
BENEFIT FUNDS OVERVIEW (REVENUE AND EXPENSE) Fund Jun 07 BTD Plan BTD Actuals Actual % of -Year Budget Benefit Funds Third Party Liability / Self Insurance $7,076,78 $,769,8 5.0% Expenditures $7,459,08 $,577,9.% $9,06 Unemployment $,040,005 $57,47 4.8% Expenditures $,069,9 $6,86 4.5% ($4,46) Worker's Compensation $8,576,558 $4,644,40 5.0% Expenditures $7,796,0 $4,50,084 4.4% $94,056 Health Care Labor Management $7,546,9 $,869,6 5.0% Expenditures $,7,6 $,66,88 4.% ($97,745) Dental Care Management $,546,45 $,88,5 5.0% Expenditures $,540,5 $,88,587 4.5%,945 FUND NOTES Third Party Liability / Self Insurance - Revenue variance is due to interest earnings (+$4k) and Government Accounting Standards Board (GASB) accounting entries (+$k). Expense variance is caused by less claims paid out than planned. Worker's Compensation - are below budget due to combination of seasonality. Expenses are favorable due to decrease in accrued claims and less actual claims than budgeted. Health Care Labor Management - Revenue variance is due to a GASB accounting adjustment (+$77k), interest earnings (+$99k), and increased Regence contributions (+$980k) but is offset by less than budgeted Group Health contributions (-8k). Expense variance is due to lower than budgeted Group Health insurance costs (+$948k). Prepared By The Office of Management and Budget Through 0, 07