SnapShot Citywide Revenues & Expenditures General Fund Revenues & Expenditures Capital Projects Tax Totals & Comparison Geo Codes & Sales Tax SIC Sales Tax Collections 2-3 4 5 6-7 8-9 10 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 80537 (970) 962-2300 Sales Tax Motor Vehicle Use Tax Building Use Tax Combined $ 3,560,795 $ 294,160 $ 231,223 $ 4,086,178 4,937,924 347,481 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.
Citywide Revenues & Expenditures Combined Statement of Revenues and Expenditures REVENUES YTD Total % of General Governmental 1 General Fund $ 8,083,822 $ 8,083,822 $ 92,883,058 8.7% 2 Special Revenue 519,277 519,277 16,507,888 3.1% 3 Other Entities 6,202,986 6,202,986 34,763,272 17.8% 4 Internal Service 1,830,687 1,830,687 26,874,217 6.8% 5 Subtotal General Govt Operations 16,636,772 16,636,772 171,028,435 9.7% 6 Capital Projects 520,541 520,541 16,656,446 3.1% Enterprise Funds 7 Water & Power 7,658,766 7,658,766 126,498,450 6.1% 8 Stormwater 553,650 553,650 6,397,690 8.7% 9 Golf 209,430 209,430 4,081,491 5.1% 10 Solid Waste 495,707 495,707 7,139,070 6.9% 11 Subtotal Enterprise 8,917,553 8,917,553 144,116,701 6.2% 12 Total Revenue $ 26,074,866 $ 26,074,866 $ 331,801,582 7.9% Prior Year External Revenue 21,996,052 Increase From Prior Year 18.5% 13 Internal Transfers 1,404,157 1,404,157 42,093,104 3.3% 14 Grand Total Revenues $ 27,479,024 $ 27,479,024 $ 373,894,686 7.3% EXPENDITURES General Governmental 15 General Fund 9,981,719 9,981,719 82,077,670 12.2% 16 Special Revenue 1,203,432 1,203,432 15,838,924 7.6% 17 Other Entities 1,768,468 1,768,468 31,106,614 5.7% 18 Internal Services 2,478,569 2,478,569 26,233,620 9.4% 19 Subtotal General Gov't Operations 15,432,188 15,432,188 155,256,828 9.9% 20 Capital 814,701 814,701 143,025,883 0.6% Enterprise Fund 21 Water & Power 2,020,155 2,020,155 88,932,657 2.3% 22 Stormwater 241,214 241,214 5,178,449 4.7% 23 Golf 204,721 204,721 3,539,005 5.8% 24 Solid Waste 447,759 447,759 6,447,225 6.9% 25 Subtotal Enterprise 2,913,849 2,913,849 104,097,336 2.8% 26 Total Expenditures $ 19,160,738 $ 19,160,738 $ 402,380,047 4.8% Prior Year External Expenditures 18,483,317 Increase (-Decrease) From Prior Year 3.7% 27 Internal Transfers 1,404,157 1,404,157 42,093,104 3.3% 28 Grand Total Expenditures $ 20,564,896 $ 20,564,896 $ 444,473,151 4.6% 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
Monthly Financial Report 2016 % of % Change from Previous Year General Fund Revenues $ 7,346,553 $ 8,083,822 $ 92,883,058 8.7% 10.0% General Fund Expenditures 7,491,420 9,981,719 82,077,670 12.2% 33.2% Water & Power Revenues 7,142,387 7,658,766 126,498,450 6.1% 7.2% Water & Power Expenditures 4,808,135 2,020,155 88,932,657 2.3% -58.0% Other Entities Revenues 3,761,357 6,202,986 34,763,272 17.8% 64.9% Other Entities Expenditures $ 1,199,618 $ 1,768,468 $ 31,106,614 5.7% 47.4% SnapShot 3
General Fund Revenues & Expenditures General Fund Revenue & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 226 $ 226 $ 8,599,382 0.0% 3 Sales tax 4,937,924 4,937,924 42,729,542 11.6% 4 Building use tax 94,933 94,933 2,774,673 3.4% 5 Motor Vehicle Use Tax 347,481 347,481 3,529,922 9.8% 6 Other taxes 174,739 174,739 3,333,626 5.2% 7 Intergovernmental 5,384 5,384 594,020 0.9% 8 Building Permits 123,319 123,319 2,745,000 4.5% 9 Other Permits 39,267 39,267 201,420 19.5% 10 Charges for Services 1,668,459 1,668,459 18,899,897 8.8% 11 Fines & Forfeitures 59,846 59,846 982,300 6.1% 12 Interest Income 30,146 30,146 445,654 6.8% 13 Miscellaneous 602,096 602,096 8,047,622 7.5% 14 Subtotal Operating 8,083,822 8,083,822 92,883,058 8.7% 15 Interfund Transfers 5,545 5,545 66,543 8.3% 16 Total Revenue $ 8,089,367 $ 8,089,367 $ 92,949,601 8.7% EXPENDITURES 17 Legislative 8,992 8,992 149,103 6.0% 18 Executive & Legal 366,326 366,326 3,900,810 9.4% 19 City Clerk & Court Admin 55,143 55,143 733,197 7.5% 20 Economic Development 84,082 84,082 1,262,794 6.7% 21 Cultural Services 201,762 201,762 2,200,296 9.2% 22 Development Services 326,443 326,443 3,949,047 8.3% 23 Finance 555,552 555,552 5,935,457 9.4% 24 Human Resources 146,386 146,386 1,439,376 10.2% 25 Information Technology 692,392 692,392 4,713,809 14.7% 26 Library 399,942 399,942 3,746,795 10.7% 27 Parks & Recreation 1,100,124 1,100,124 12,324,110 8.9% 28 Police 2,588,209 2,588,209 24,845,139 10.4% 29 Public Works 435,113 435,113 6,468,358 6.7% 30 Non-Departmental 3,258,026 3,258,026 12,923,243 25.2% 31 Subtotal Operating 10,218,493 10,218,493 84,591,534 12.1% 32 Internal Transfers 1,135,157 1,135,157 29,557,437 3.8% 33 Total Expenditures $ 11,353,650 $ 11,353,650 $ 114,148,971 9.9% 4
Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital Water Line Replacement $ - $ 603,180 $ 603,180 0.00% Namaqua Hills Water Booster Station & Generator - 503,520 503,520 0.00% Raw Water Capital Purchase of CBT Water - 524,500 524,500 0.00% Wastewater Utility Capital WWTP Expansion 40,563 9,808,150 9,767,587 0.41% CIPP Sewer Rehab - 1,049,000 1,049,000 0.00% Power Capital Security Battery Replacements at Horseshoe and Crossroads - 500,000 500,000 0.00% Install 600 Amp Tie from Cascade West Along Hwy 34-500,000 500,000 0.00% Canyon Conversion - 700,000 700,000 0.00% Extension of 600 Amp from 14th St SW to Hwy 60 along Hwy 287-1,100,000 1,100,000 0.00% OH to UG RR Tracks North of 10th between RR Ave. and Madison - 1,400,000 1,400,000 0.00% OH to UG Foundry - 1,400,000 1,400,000 0.00% East Substation - Order New Switchgear Lineup for E3-750,000 750,000 0.00% Land Purchase for New Substation - 1,700,000 1,700,000 0.00% Feeder from Horseshoe to Woodward/Lee Farms Sub - 1,500,000 1,500,000 0.00% Install 750 AL from MCR to Kendall Pkwy & I25-800,000 800,000 0.00% Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 6,783 1,210,207 1,203,425 0.56% Madison Avenue Outfall Outlet Reconstruction - 704,755 704,755 0.00% Benson Park Culvert Improvements 2,133 912,640 910,507 0.23% 2016 Stormwater Maintenance & Asset Mgmt Pjts - 560,000 560,000 0.00% Airport Basin North Outfall 1,993 1,494,271 1,492,278 0.13% Streets Transportation Program R-O-W Acquisition - Citywide - 740,000 740,000 0.00% Taft Ave. @ Big Barnes Ditch 3,717 1,111,732 1,108,015 0.33% Boyd/US34 Signal & Intersection Improvements 1,806 1,416,550 1,414,744 0.13% Boyd Lake, US34, Mountain Lion Drive Intersection 41,719 2,416,587 2,374,868 1.73% US 34 - Denver to Boyd Lake Widening 1,692 500,000 498,308 0.34% 29th Street at Beech Ct Intersection - 500,000 500,000 0.00% Railroad Ave. Flood Repairs FHWA@20038ER1 627 5,644,327 5,643,700 0.01% TABOR Access Bike, PED, & ADA Ramp Program - 664,154 664,154 0.00% Fire Apparatus Replacement - 684,920 684,920 0.00% Fire Training Center Property ($795,610 TABOR) - 1,391,220 1,391,220 0.00% Police Records Management System - 1,398,157 1,398,157 0.00% Police Training Facility ($405,000 TABOR) - 810,000 810,000 0.00% Sidewalk Installation (US287) - 702,000 702,000 0.00% Supplemental Bridge Repairs - 1,260,000 1,260,000 0.00% All Other The Foundry - 3,000,000 3,000,000 0.00% SnapShot 5
Tax Totals and Comparisons Sales & Use Tax 2015 2016 % of Jan $ 4,908,517 $ 4,950,022 $5,380,338 49,034,137 11.0% Feb 2,700,204 3,622,959 49,034,137 0.0% Mar 4,007,386 3,411,932 49,034,137 0.0% Apr 4,011,633 3,974,366 49,034,137 0.0% May 3,611,468 3,699,643 49,034,137 0.0% Jun 4,116,214 4,182,259 49,034,137 0.0% Jul 4,375,627 4,229,851 49,034,137 0.0% Aug 3,783,694 4,023,763 49,034,137 0.0% Sep 4,170,066 4,045,789 49,034,137 0.0% Oct 4,102,720 4,227,573 49,034,137 0.0% Nov 3,572,713 4,140,427 49,034,137 0.0% Dec 3,894,616 4,275,198 49,034,137 0.0% $47,254,859 $48,783,782 $5,380,338 $49,034,137 11.0% Sales Tax 2015 2016 % of Jan $ 4,535,554 $ 4,365,416 $4,937,924 42,729,542 11.6% Feb 2,235,775 3,190,005 42,729,542 0.0% Mar 3,480,164 2,924,575 42,729,542 0.0% Apr 3,521,350 3,504,812 42,729,542 0.0% May 3,092,253 3,221,324 42,729,542 0.0% Jun 3,208,195 3,346,764 42,729,542 0.0% Jul 3,727,389 3,807,869 42,729,542 0.0% Aug 3,389,010 3,563,493 42,729,542 0.0% Sep 3,408,259 3,544,599 42,729,542 0.0% Oct 3,642,285 3,763,070 42,729,542 0.0% Nov 3,034,997 3,288,473 42,729,542 0.0% Dec 3,486,297 3,363,390 42,729,542 0.0% $40,761,528 $41,883,791 $4,937,924 $42,729,542 11.6% 6
Tax Totals and Comparisons Building Use Tax 2015 2016 % of Jan $ 114,444 $ 207,531 $94,933 2,774,673 3.4% Feb 221,517 175,706 2,774,673 0.0% Mar 261,500 178,825 2,774,673 0.0% Apr 200,708 229,024 2,774,673 0.0% May 248,738 174,935 2,774,673 0.0% Jun 651,849 578,163 2,774,673 0.0% Jul 358,806 119,024 2,774,673 0.0% Aug 111,575 216,913 2,774,673 0.0% Sep 462,146 182,173 2,774,673 0.0% Oct 182,690 189,555 2,774,673 0.0% Nov 223,788 479,754 2,774,673 0.0% Dec 203,069 600,763 2,774,673 0.0% $3,240,831 $3,332,366 $94,933 $2,774,673 3.4% Motor Vehicle Use Tax 2015 2016 % of Jan $ 258,519 $ 377,075 $347,481 3,529,922 9.8% Feb 242,911 257,248 3,529,922 0.0% Mar 265,721 308,532 3,529,922 0.0% Apr 289,575 240,529 3,529,922 0.0% May 270,477 303,384 3,529,922 0.0% Jun 256,170 257,333 3,529,922 0.0% Jul 289,432 302,958 3,529,922 0.0% Aug 283,109 243,356 3,529,922 0.0% Sep 299,661 319,018 3,529,922 0.0% Oct 277,746 274,947 3,529,922 0.0% Nov 313,928 372,200 3,529,922 0.0% Dec 205,249 311,044 3,529,922 0.0% $3,252,500 $3,567,625 $347,481 $3,529,922 9.8% SnapShot 7
Geographical Codes Geographical Area YTD YTD 2016 Change South East Loveland $ 956,175 $ 830,182 15.2% Centerra 477,209 457,405 4.3% North West Loveland 476,588 448,504 6.3% Promenade Shops 375,005 233,080 60.9% North East Loveland 366,675 292,969 25.2% Orchards Shopping Center 363,364 353,091 2.9% Thompson Valley Shopping Center 300,843 297,326 1.2% Outlet Mall 178,104 149,962 18.8% South West Loveland 168,972 151,406 11.6% Downtown 134,743 129,966 3.7% The Ranch 80,176 83,299-3.7% Airport 69,957 72,333-3.3% Columbine Shopping Center 64,993 67,841-4.2% All Other Areas 925,120 798,052 15.9% Total $4,937,924 $4,365,416 13.1% (1) Refers to sales tax remitted by vendors who are located outside of the City but make sales to customers within Loveland. Map 8
Geographical Codes N W E S SnapShot 9
Sales Tax Collections by Industry Sector Description YTD YTD 2016 $ Change % Change % of Total Total % Department Stores & General Merchandise 906,808 843,851 $ 62,957 7.5% 18.4% 18.4% Grocery Stores & Specialty Foods 660,342 621,866 38,476 6.2% 13.4% 31.7% Restaurants & Bars 485,351 453,173 32,178 7.1% 9.8% 41.6% Clothing & Clothing Accessories Stores 368,213 340,647 27,566 8.1% 7.5% 49.0% Motor Vehicle Dealers, Auto Parts & Leasing 357,593 298,227 59,366 19.9% 7.2% 56.3% Building Material & Lawn & Garden Supplies 286,874 172,685 114,189 66.1% 5.8% 62.1% Sporting Goods, Hobby, Book & Music Stores 256,487 243,890 12,597 5.2% 5.2% 67.3% Used Merchandise Stores 215,805 189,847 25,958 13.7% 4.4% 71.6% Electronic Shopping & Mail-Order Houses 176,706 84,143 92,563 110.0% 3.6% 75.2% Utilities 169,071 182,101 (13,030) -7.2% 3.4% 78.6% Consumer Goods & Commercial Equipment Rental 140,575 114,394 26,181 22.9% 2.8% 81.5% Beer, Wine & Liquor Stores 124,451 104,596 19,855 19.0% 2.5% 84.0% Electronics & Appliance Stores 117,843 82,444 35,399 42.9% 2.4% 86.4% Broadcasting & Telecommunications 111,716 111,606 110 0.1% 2.3% 88.7% Health & Personal Care Stores 94,832 90,872 3,960 4.4% 1.9% 90.6% Furniture & Home Furnishing Stores 72,438 66,818 5,620 8.4% 1.5% 92.0% Hotels, Motels & Other Accommodations 72,420 72,162 258 0.4% 1.5% 93.5% Gasoline Stations with Convenience Stores 35,134 34,628 506 1.5% 0.7% 94.2% Office Supplies, Stationery & Gift Stores 28,599 22,246 6,353 28.6% 0.6% 94.8% All Other Categories 256,666 235,220 21,446 9.1% 5.2% 100.0% Total $ 4,937,924 $ 4,365,416 $ 572,508 13.1% 100.0% 10
Lodging Tax Lodging Tax Revenue received in is at $47,612 year-to-date. 3.8% lower than 2016 YTD SnapShot 11
Change 2016 Health Care Claims Claims Incurred OAP HRA Total Jan 544,607 118,967 663,574 YTD 544,607 118,967 663,574 Jan 723,253 133,600 856,853 YTD 723,253 133,600 856,853 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 2014 2015 2016 # of claims 6 8 6 2 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
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
Activity Measures Measures Jan 2015 Jan 2016 Jan 2015 YTD 2016 YTD YTD # of Building Permits 130 192 145 130 192 145 Building Permit Valuations $7,240,995 $17,316,862 $5,712,571 $7,240,995 $17,316,862 $ 5,712,571 # of Certified Occupancies 22 34 17 22 34 17 Net # of Sales Tax Licenses (6) 4 (2) (6) 4 (2) New Residential Electric Meter Sets 25 36 30 25 36 30 # 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 95,471 103,921 100,446 95,471 103,921 KWH Purchased (kwh) 65,844,004 61,600,154 61,790,782 65,844,004 Gallons of Water Sold 161,584,081 152,535,391 166,293,607 161,584,081 61,600,154 152,535,391 61,790,782 166,293,607 # of Workers' Comp Claims 5 11 4 5 11 4 $ of Workers' Comp Claims $63,087 $19,514 $22,286 $63,087 $19,514 $22,286 # of Total Open Claims 13 20 15 Not Cumulative $ of Total Open Claims 219,324 357,199 457,941 Not Cumulative $ of Lodging Tax Collected $55,525 $49,420 $47,612 $55,525 $49,420 $47,612 14
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 970-962-3319 SnapShot 15
SnapShot For more information regarding this report contact: Brent Worthington Finance Director 970.962.2300 or brent.worthington@cityofloveland.org