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 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 80537 (970) 962-2300 Sales Tax Motor Vehicle Use Tax Building Use Tax Combined $ 85,459,084 $ 7,059,844 $ 5,549,346 $ 98,068,274 8,067,407 563,123 310,575 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.
Citywide Revenues & Expenditures Combined Statement of Revenues and Expenditures REVENUES YTD Total % of General Governmental 1 General Fund $ 6,748,066 $ 14,831,888 $ 92,883,058 16.0% 2 Special Revenue 559,876 1,079,152 16,507,888 6.5% 3 Other Entities 1,509,996 7,712,983 34,763,272 22.2% 4 Internal Service 1,992,034 3,822,721 26,874,217 14.2% 5 Subtotal General Gov t Operations 10,809,972 27,446,744 171,028,435 16.0% 6 Capital Projects 868,197 1,388,737 17,156,446 8.1% Enterprise Funds 7 Water & Power 7,060,079 14,718,845 126,498,450 11.6% 8 Stormwater 551,702 1,105,352 6,397,690 17.3% 9 Golf 155,610 365,040 4,081,491 8.9% 10 Solid Waste 495,585 991,292 7,139,070 13.9% 11 Subtotal Enterprise 8,262,976 17,180,529 144,116,701 11.9% 12 Citywide Total Revenues $ 19,941,144 $ 46,016,011 $ 332,301,582 13.8% Prior Year External Revenue 40,314,370 Increase From Prior Year 14.1% 13 Internal Transfers 190,217 1,594,374 43,635,304 3.7% 14 Grand Total Revenues $ 20,131,361 $ 47,610,385 $ 375,936,886 12.7% EXPENDITURES General Governmental 15 General Fund 6,045,337 16,027,055 82,242,058 19.5% 16 Special Revenue 1,061,318 2,264,750 15,881,124 14.3% 17 Other Entities 1,549,843 3,318,311 31,106,614 10.7% 18 Internal Services 1,371,297 3,849,866 26,233,620 14.7% 19 Subtotal General Gov't Operations 10,027,794 25,459,983 155,463,416 16.4% 20 Capital 2,131,912 2,946,613 145,025,883 2.0% Enterprise Fund 21 Water & Power 5,990,886 8,011,041 88,932,657 9.0% 22 Stormwater 340,035 581,249 5,178,449 11.2% 23 Golf 160,801 365,522 3,539,005 10.3% 24 Solid Waste 407,442 855,201 6,447,225 13.3% 25 Subtotal Enterprise 6,899,165 9,813,013 104,097,336 9.4% 26 Citywide Total Expenditures $ 19,058,871 $ 38,219,609 $ 404,586,635 9.4% Prior Year External Expenditures 38,229,149 Increase (-Decrease) From Prior Year 0.0% 27 Internal Transfers 190,217 1,594,374 43,635,304 3.7% 28 Grand Total Expenditures $ 19,249,087 $ 39,813,983 $ 448,221,939 8.9% 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 $ 13,734,498 $ 14,831,888 $ 92,883,058 16.0% 8.0% General Fund Expenditures 12,801,083 16,027,055 82,242,058 19.5% 25.2% Water & Power Revenues 13,976,055 14,718,845 126,498,450 11.6% 5.3% Water & Power Expenditures 10,008,264 8,011,041 88,932,657 9.0% -20.0% Other Entities Revenues 4,921,640 7,712,983 34,763,272 22.2% 56.7% Other Entities Expenditures $ 2,377,859 $ 3,318,311 $ 31,106,614 10.7% 39.6% SnapShot 3
General Fund Revenues & Expenditures General Fund Revenue & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 286,998 $ 287,223 $ 8,599,382 3.3% 3 Sales tax 3,111,483 8,049,407 42,729,542 18.8% 4 Building use tax 215,642 310,575 2,774,673 11.2% 5 Motor Vehicle Use Tax 270,951 618,432 3,529,922 17.5% 6 Other taxes 397,330 572,069 3,333,626 17.2% 7 Intergovernmental 5,612 10,996 594,020 1.9% 8 Building Permits 167,533 290,852 2,745,000 10.6% 9 Other Permits 12,764 52,032 201,420 25.8% 10 Charges for Services 1,572,665 3,241,124 18,899,897 17.1% 11 Fines & Forfeitures 60,086 119,932 982,300 12.2% 12 Interest Income 17,264 47,410 445,654 10.6% 13 Miscellaneous 629,738 1,231,834 8,047,622 15.3% 14 Subtotal Operating 6,748,066 14,831,888 92,883,058 16.0% 15 Interfund Transfers 5,545 11,091 66,543 16.7% 16 Total Revenues $ 6,753,611 $ 14,842,978 $ 92,949,601 16.0% EXPENDITURES 17 Legislative 13,842 22,834 149,103 15.3% 18 Executive & Legal 268,962 635,288 3,900,810 16.3% 19 City Clerk & Court Admin 46,273 101,416 733,197 13.8% 20 Economic Development 77,879 161,961 1,262,794 12.8% 21 Cultural Services 168,628 370,391 2,200,296 16.8% 22 Development Services 261,851 588,294 3,949,047 14.9% 23 Finance 454,658 1,010,211 6,044,257 16.7% 24 Human Resources 137,292 283,678 1,439,376 19.7% 25 Information Technology 400,901 1,093,293 4,719,397 23.2% 26 Library 292,857 692,799 3,746,795 18.5% 27 Parks & Recreation 906,546 2,006,670 12,374,110 16.2% 28 Police 1,841,309 4,429,518 24,845,139 17.8% 29 Public Works 530,300 965,413 6,468,358 14.9% 30 Non-Departmental 960,478 4,218,504 12,923,243 32.6% 31 Subtotal Operating 6,361,776 16,580,269 84,755,922 19.6% 32 Internal Transfers 159,143 1,294,300 31,099,637 4.2% 33 Total Expenditures $ 6,520,919 $ 17,874,569 $ 115,855,559 15.4% 4
Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital WTP Phase II Expansion (38 MGD) $ 579,277 $ 10,704 $ 568,573 1.85% Namaqua Pump Stations & Tank Improvements 791,066-791,066 0.00% Foundry Waterline Improvements 508,000 7,034 500,966 1.38% Raw Water Capital Windy Gap Firming 1,386,762-1,386,762 0.00% Purchase CBT Water 524,500-524,500 0.00% Wastewater Utility Capital WWTP Expansion 35,141,064 59,293 35,081,771 0.17% Southside Lift Station 1,464,544 17,496 1,447,048 1.19% CIPP Sewer Rehab 1,049,000-1,049,000 0.00% South Catalyst Sewer Improvements 507,050 8,923 498,128 1.76% Power Capital Security Gates and Fences at Subdivisions 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 Ave 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% 29th and Rio Blanco 785,931-785,931 0.00% OH to UG Conversion - Hwy 287 from 42nd st to 57th street 644,845 61,905 582,940 9.60% FEMA Power Alt Project - Substation 4,000,000-4,000,000 0.00% Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 1,210,207 14,562 1,195,645 1.20% Madison Avenue Outfall Outlet Reconstruction 704,755-704,755 0.00% Benson Park Culvert Improvements 913,510 20,776 892,735 2.27% 2016 Stormwater Maintenance & Asset Mgmt Pjts 560,000 131,287 428,713 23.44% Maintenance & Asset Management Projects 406,511 6,511 400,000 1.60% Airport Basin North Outfall 1,495,740 77,862 1,417,878 5.21% Streets Transportation Program R-O-W Acquisition - Citywide 740,000-740,000 0.00% Taft Ave. @ Big Barnes Ditch 1,111,732 17,593 1,094,139 1.58% Boyd/US34 Signal & Intersection Improvements 1,416,550 2,142 1,414,408 0.15% Boyd Lake, US34, Mountain Lion Drive Intersection 2,416,587 46,588 2,369,999 1.93% US 34 - Denver to Boyd Lake Widening 500,000 6,646 493,354 1.33% 29th Street at Beech Ct Intersection 549,975 5,369 544,606 0.98% Garfield - 10th to 23rd 790,067 7,008 783,059 0.89% Railroad Ave. Flood Repairs FHWA@20038ER1 5,644,327 5,378 5,638,949 0.10% 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) 2,332,120-2,332,120 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 3,000,000 168,472 2,831,528 5.62% Flood Damage at the Trails 600,000 77,500 522,500 12.92% Cemetery Maintenance Shop and Office 587,514-587,514 0.00% Long View Trail 961,743 3,982 957,761 0.41% River's Edge Open Lands 803,971-803,971 0.00% Land Purchases (N Namaqua Avenue, Ward, Boise, and Osborne) 3,374,523-3,374,523 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 3,616,075 49,034,137 7.4% 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 $8,996,414 $49,034,137 18.3% 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 3,129,483 42,729,542 7.3% 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 $8,067,407 $42,729,542 18.9% 6
Tax Totals and Comparisons Building Use Tax 2015 2016 % of Jan $ 114,444 $ 207,531 $ 94,933 2,774,673 3.4% Feb 221,517 175,706 215,642 2,774,673 7.8% 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 $310,575 $2,774,673 11.2% Motor Vehicle Use Tax 2015 2016 % of Jan $ 258,519 $ 377,075 $347,481 3,529,922 9.8% Feb 242,911 257,248 215,642 3,529,922 6.1% 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 $563,123 $3,529,922 16.0% SnapShot 7
Geographical Codes Geographical Area YTD YTD 2016 Change South East Loveland $ 1,691,374 $ 1,629,454 3.8% North West Loveland 797,953 748,315 6.6% Centerra 732,766 733,606-0.1% North East Loveland 679,299 541,476 25.5% Orchards Shopping Center 569,567 574,878-0.9% Promenade Shops 525,869 525,233 0.1% Thompson Valley Shopping Center 449,815 458,038-1.8% South West Loveland 277,193 251,831 10.1% Outlet Mall 259,814 242,333 7.2% Downtown 224,925 222,532 1.1% The Ranch 144,104 144,376-0.2% Columbine Shopping Center 121,691 125,113-2.7% Airport 117,074 112,938 3.7% All Other Areas 1,475,963 1,245,298 18.5% Total $8,067,407 $7,555,421 6.8% (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 1,430,512 1,453,619 $ (23,107) -1.6% 17.7% 17.7% Grocery Stores & Specialty Foods 1,019,499 952,674 66,825 7.0% 12.6% 30.4% Restaurants & Bars 926,381 890,698 35,683 4.0% 11.5% 41.9% Motor Vehicle Dealers, Auto Parts & Leasing 606,699 505,916 100,783 19.9% 7.5% 49.4% Building Material & Lawn & Garden Supplies 526,791 476,672 50,119 10.5% 6.5% 55.9% Clothing & Clothing Accessories Stores 509,932 506,305 3,627 0.7% 6.3% 62.2% Utilities 401,426 395,015 6,411 1.6% 5.0% 67.2% Sporting Goods, Hobby, Book & Music Stores 370,859 374,130 (3,271) -0.9% 4.6% 71.8% Used Merchandise Stores 349,059 277,729 71,330 25.7% 4.3% 76.1% Electronic Shopping & Mail-Order Houses 253,010 133,571 119,439 89.4% 3.1% 79.3% Consumer Goods & Commercial Equipment Rental 220,830 189,212 31,618 16.7% 2.7% 82.0% Broadcasting & Telecommunications 209,381 213,071 (3,690) -1.7% 2.6% 84.6% Beer, Wine & Liquor Stores 205,213 181,550 23,663 13.0% 2.5% 87.1% Electronics & Appliance Stores 170,750 185,060 (14,310) -7.7% 2.1% 89.3% Health & Personal Care Stores 146,484 144,805 1,679 1.2% 1.8% 91.1% Hotels, Motels & Other Accommodations 133,803 138,524 (4,721) -3.4% 1.7% 92.7% Furniture & Home Furnishing Stores 112,370 109,227 3,143 2.9% 1.4% 94.1% Gasoline Stations with Convenience Stores 66,865 65,823 1,042 1.6% 0.8% 94.9% Office Supplies, Stationery & Gift Stores 47,074 54,024 (6,950) -12.9% 0.6% 95.5% All Other Categories 360,469 307,796 52,673 17.1% 4.5% 100.0% Total $ 8,067,407 $ 7,555,421 $ 511,986 6.8% 100.0% 10
Lodging Tax Lodging Tax Revenue received in is $97,135 year-to-date. 5.9% lower than 2016 YTD SnapShot 11
Change 2016 Health Care Claims Claims Incurred OAP HRA Total Feb 719,062 73,877 792,939 YTD 1,263,669 192,844 1,456,513 Feb 852,534 130,751 983,285 YTD 1,575,787 264,351 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 2014 2015 2016 # of claims 15 17 12 8 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
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
Activity Measures Measures Feb 2015 Feb 2016 Feb 2015 YTD 2016 YTD YTD # of Building Permits 200 165 174 330 357 319 Building Permit Valuations $14,848,857 $13,103,882 $ 15,525,303 $ 22,089,852 $ 30,420,744 $ 21,237,874 # of Certified Occupancies 41 65 179 63 99 196 Net # of Sales Tax Licenses (42) (17) (22) (48) (13) (24) New Residential Electric Meter Sets 113 75 30 138 111 60 # 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 93,992 196,397 190,371 197,913 KWH Purchased (kwh) 58,165,978 57,476,136 52,262,894 124,009,982 119,076,290 114,053,676 Gallons of Water Sold 150,695,376 139,218,636 130,940,152 312,279,457 291,754,027 297,233,759 # of Workers' Comp Claims 9 6 7 14 17 11 $ of Workers' Comp Claims $ 73,554 $ 23,547 $ 21,602 $ 136,641 $ 43,061 $ 43,888 # of Total Open Claims 17 18 16 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
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