SnapShot Citywide Revenues & Expenditures 2-3 Monthly Financial Report General Fund Revenues & Expenditures Capital Projects 4 5 Citywide Revenue, $72.5 million (21.8% of the total annual budget Tax Totals & Comparison 6-7 Sales & Use Tax Collections, $12.5 million (25.5% of total annual budget) Geo Codes & Sales Tax SIC 8-9 Citywide Expenditures, $67.7 million (16.7% of total annual budget) Sales Tax Collections 10 Citywide Total Revenues exceed Citywide Total Expenditures by $4.8 million Lodging Tax 11 General Fund Revenue, $24.2 million (26.1% of total annual budget) Health Care Claims 12 General Fund Expenditures, $23.0 million, (27.1% of total annual budget) Flood Update 13 Activity Measures Rialto Quarterly Report 14 15 General Fund Year-to-Date Operating Revenues (excluding transfers) exceed General Fund Year-to-Date Operating Expenditures (excluding transfers and capital) by $1.3 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 $ 42,729,542 $ 3,529,922 $ 2,774,673 $ 49,034,137 11,101,954 875,196 532,083 12,509,233 % of 26.0% 24.8% 19.2% 25.5% 2016 $ 10,479,996 $ 942,855 $ 562,061 $ 11,984,913 Change from prior year 5.9% -7.2% -5.3% 4.4% 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 $ 9,413,597 $ 24,245,484 $ 92,883,058 26.1% 2 Special Revenue 604,772 1,683,925 16,777,888 10.0% 3 Other Entities 4,450,453 12,163,436 34,893,974 34.9% 4 Internal Service 2,115,327 5,938,049 26,874,217 22.1% 5 Subtotal General Gov t Operations 16,584,150 44,030,894 171,429,137 25.7% 6 Capital Projects 1,447,716 2,836,454 17,156,446 16.5% Enterprise Funds 7 Water & Power 7,153,339 21,872,185 126,498,450 17.3% 8 Stormwater 560,411 1,665,763 6,397,690 26.0% 9 Golf 243,344 608,384 4,081,491 14.9% 10 Solid Waste 535,176 1,526,468 7,139,070 21.4% 11 Subtotal Enterprise 8,492,271 25,672,800 144,116,701 17.8% 12 Citywide Total Revenues $ 26,524,137 $ 72,540,147 $ 332,702,284 21.8% Prior Year External Revenue 67,859,002 Increase From Prior Year 6.9% 13 Internal Transfers 264,916 1,859,290 43,665,304 4.3% 14 Grand Total Revenues $ 26,789,053 $ 74,399,438 $ 376,367,588 19.8% EXPENDITURES General Governmental 15 General Fund 6,138,560 22,130,615 82,209,258 26.9% 16 Special Revenue 955,874 3,220,650 15,868,624 20.3% 17 Other Entities 4,127,508 7,445,820 30,993,114 24.0% 18 Internal Services 1,648,305 5,498,171 26,233,620 21.0% 19 Subtotal General Gov't Operations 12,870,248 38,295,255 155,304,616 24.7% 20 Capital 6,735,612 9,682,225 145,823,078 6.6% Enterprise Fund 21 Water & Power 8,968,501 16,979,543 88,718,857 19.1% 22 Stormwater 252,593 833,842 5,178,449 16.1% 23 Golf 280,514 646,036 3,539,005 18.3% 24 Solid Waste 434,579 1,289,780 6,447,225 20.0% 25 Subtotal Enterprise 9,936,187 19,749,200 103,883,536 19.0% 26 Citywide Total Expenditures $ 29,542,047 $ 67,726,681 $ 405,011,230 16.7% Prior Year External Expenditures 62,837,398 Increase (-Decrease) From Prior Year 7.8% 27 Internal Transfers 264,916 1,859,290 43,665,304 4.3% 28 Grand Total Expenditures $ 29,806,963 $ 69,585,971 $ 448,676,534 15.5% 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 $ 22,659,205 $ 24,245,484 $ 92,883,058 26.1% 7.0% General Fund Expenditures 19,560,652 22,130,615 82,209,258 26.9% 13.1% Water & Power Revenues 23,517,257 21,872,185 126,498,450 17.3% -7.0% Water & Power Expenditures 16,349,298 16,979,543 88,718,857 19.1% 3.9% Other Entities Revenues 9,435,392 12,163,436 34,893,974 34.9% 28.9% Other Entities Expenditures $ 6,687,596 $ 7,445,820 $ 30,993,114 24.0% 11.3% SnapShot 3
General Fund Revenues & Expenditures General Fund Revenues & Expenditures REVENUES YTD Total % of 1 Taxes 2 Property tax $ 2,908,603 $ 3,195,826 $ 8,599,382 37.2% 3 Sales tax 3,052,547 11,101,954 42,729,542 26.0% 4 Building use tax 221,508 532,083 2,774,673 19.2% 5 Motor Vehicle Use Tax 256,764 875,196 3,529,922 24.8% 6 Other taxes 301,028 873,097 3,333,626 26.2% 7 Intergovernmental 76,338 87,335 594,020 14.7% 8 Building Permits 217,416 508,268 2,745,000 18.5% 9 Other Permits 34,374 86,405 201,420 42.9% 10 Charges for Services 1,562,912 4,804,037 18,899,897 25.4% 11 Fines & Forfeitures 82,734 202,666 982,300 20.6% 12 Interest Income 37,136 84,546 445,654 19.0% 13 Miscellaneous 662,237 1,894,072 8,047,622 23.5% 14 Subtotal Operating 9,413,597 24,245,484 92,883,058 26.1% 15 Interfund Transfers 5,545 16,636 66,543 25.0% 16 Total Revenues $ 9,419,142 $ 24,262,120 $ 92,949,601 26.1% EXPENDITURES 17 Legislative 13,535 36,369 149,103 24.4% 18 Executive & Legal 288,767 924,055 3,900,810 23.7% 19 City Clerk & Court Admin 41,649 143,065 733,197 19.5% 20 Economic Development 88,892 250,853 1,262,794 19.9% 21 Cultural Services 171,919 542,310 2,200,296 24.6% 22 Development Services 275,147 863,441 3,949,047 21.9% 23 Finance 455,711 1,465,922 6,044,257 24.3% 24 Human Resources 95,564 379,242 1,439,376 26.3% 25 Information Technology 293,394 1,386,687 4,719,397 29.4% 26 Library 331,940 1,024,739 3,746,795 27.3% 27 Parks & Recreation 1,065,131 3,071,801 12,374,110 24.8% 28 Police 1,872,350 6,301,868 24,845,139 25.4% 29 Public Works 444,702 1,410,115 6,468,358 21.8% 30 Non-Departmental 989,570 5,173,074 12,923,243 40.0% 31 Subtotal Operating 6,428,272 22,973,541 84,755,922 27.1% 32 Internal Transfers 163,697 1,457,997 31,129,637 4.7% 33 Total Expenditures $ 6,591,969 $ 24,431,538 $ 115,885,559 21.1% 4
Capital Projects $500,000+ Project Title Expenditures Remaining % of Water Capital WTP Phase II Expansion (38 MGD) $ 579,277 $ 13,153 $ 566,124 2.27% Namaqua Pump Stations & Tank Improvements 791,066 6,020 785,046 0.76% Foundry Waterline Improvements 508,000 8,912 499,088 1.75% 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 Parallel Boyd Intcp 557,491-557,491 0.00% WWTP Expansion 35,141,064 322,087 34,818,977 0.92% Southside Lift Station 1,464,544 37,153 1,427,391 2.54% CIPP Sewer Rehab 1,049,000-1,049,000 0.00% South Catalyst Sewer Improvements 507,050 10,801 496,249 2.13% 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 8,785 777,146 1.12% OH to UG Conversion - Hwy 287 from 42nd st to 57th street 644,845 671,369 (26,524) 104.11% FEMA Power Alt Project - Substation 4,000,000 241,687 3,758,313 6.04% Stormwater Capital 29th & Monroe Outfall (Phase 2-Dry Creek) 1,210,273 14,628 1,195,645 1.21% Madison Avenue Outfall Outlet Reconstruction 704,964 209 704,755 0.03% Benson Park Culvert Improvements 914,176 31,103 883,073 3.40% 2016 Stormwater Maintenance & Asset Mgmt Pjts 560,000 131,287 428,713 23.44% Airport Basin North Outfall 1,497,608 90,351 1,407,258 6.03% Streets Transportation Program R-O-W Acquisition - Citywide 740,000-740,000 0.00% Taft Ave. @ Big Barnes Ditch 1,111,732 22,490 1,089,242 2.02% Boyd/US34 Signal & Intersection Improvements 1,416,550 4,645 1,411,905 0.33% Boyd Lake, US34, Mountain Lion Drive Intersection 2,416,587 79,394 2,337,193 3.29% US 34 - Denver to Boyd Lake Widening 500,000 7,849 492,151 1.57% 29th Street at Beech Ct Intersection 549,975 14,560 535,415 2.65% Garfield - 10th to 23rd 790,067 12,990 777,077 1.64% Railroad Ave. Flood Repairs FHWA@20038ER1 5,644,327 6,727 5,637,600 0.12% TABOR Access Bike, PED, & ADA Ramp Program 664,154-664,154 0.00% Fire Training Center Property ($795,610 TABOR) 2,332,120 1,507 2,330,614 0.06% 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 3,000,000 284,070 2,715,930 9.47% Flood Damage at the Trails 600,000 136,709 463,291 22.78% Cemetery Maintenance Shop and Office 587,514-587,514 0.00% Long View Trail 961,743 5,242 956,501 0.55% 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 3,512,819 49,034,137 7.2% Apr 4,011,633 3,974,366 0 49,034,137 0.0% May 3,611,468 3,699,643 0 49,034,137 0.0% Jun 4,116,214 4,182,259 0 49,034,137 0.0% Jul 4,375,627 4,229,851 0 49,034,137 0.0% Aug 3,783,694 4,023,763 0 49,034,137 0.0% Sep 4,170,066 4,045,789 0 49,034,137 0.0% Oct 4,102,720 4,227,573 0 49,034,137 0.0% Nov 3,572,713 4,140,427 0 49,034,137 0.0% Dec 3,894,616 4,275,198 0 49,034,137 0.0% $47,254,859 $48,783,782 $12,509,233 $49,034,137 25.5% 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 3,034,547 42,729,542 7.1% 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 $11,101,954 $42,729,542 26.0% 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 261,500 178,825 221,508 2,774,673 8.0% 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 $532,083 $2,774,673 19.2% Motor Vehicle Use Tax 2015 2016 % of Jan $ 258,519 $ 377,075 $347,481 3,529,922 9.8% Feb 242,911 257,248 270,951 3,529,922 7.7% Mar 265,721 308,532 256,764 3,529,922 7.3% 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 $875,196 $3,529,922 24.8% SnapShot 7
Geographical Codes Geographical Area YTD YTD 2016 Change South East Loveland $ 2,363,697 $ 2,295,879 3.0% North West Loveland 1,109,687 1,046,911 6.0% North East Loveland 994,977 794,771 25.2% Centerra 986,934 1,008,290-2.1% Orchards Shopping Center 778,877 788,845-1.3% Promenade Shops 684,411 709,009-3.5% Thompson Valley Shopping Center 604,319 619,208-2.4% South West Loveland 404,126 371,417 8.8% Outlet Mall 360,221 342,201 5.3% Downtown 318,884 316,659 0.7% The Ranch 207,610 198,797 4.4% Columbine Shopping Center 178,968 183,265-2.3% Airport 163,503 154,266 6.0% All Other Areas 1,945,740 1,650,478 17.9% Total $11,101,954 $10,479,996 5.9% (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 1,948,642 1,994,730 $ (46,088) -2.3% 17.6% 17.6% Grocery Stores & Specialty Foods 1,395,315 1,287,949 107,366 8.3% 12.6% 30.1% Restaurants & Bars 1,362,054 1,316,969 45,085 3.4% 12.3% 42.4% Motor Vehicle Dealers, Auto Parts & Leasing 829,975 736,284 93,691 12.7% 7.5% 49.9% Building Material & Lawn & Garden Supplies 748,446 674,345 74,101 11.0% 6.7% 56.6% Clothing & Clothing Accessories Stores 688,541 693,367 (4,826) -0.7% 6.2% 62.8% Utilities 595,842 575,512 20,330 3.5% 5.4% 68.2% Sporting Goods, Hobby, Book & Music Stores 476,523 491,348 (14,825) -3.0% 4.3% 72.5% Used Merchandise Stores 464,110 363,458 100,652 27.7% 4.2% 76.6% Electronic Shopping & Mail-Order Houses 319,478 176,348 143,130 81.2% 2.9% 79.5% Beer, Wine & Liquor Stores 292,553 264,437 28,116 10.6% 2.6% 82.2% Consumer Goods & Commercial Equipment Rental 291,719 260,889 30,830 11.8% 2.6% 84.8% Broadcasting & Telecommunications 291,547 300,844 (9,297) -3.1% 2.6% 87.4% Electronics & Appliance Stores 221,472 231,868 (10,396) -4.5% 2.0% 89.4% Health & Personal Care Stores 197,842 195,060 2,782 1.4% 1.8% 91.2% Hotels, Motels & Other Accommodations 196,754 200,171 (3,417) -1.7% 1.8% 93.0% Furniture & Home Furnishing Stores 150,606 155,344 (4,738) -3.1% 1.4% 94.3% Gasoline Stations with Convenience Stores 97,601 96,604 997 1.0% 0.9% 95.2% Office Supplies, Stationery & Gift Stores 63,700 77,093 (13,393) -17.4% 0.6% 95.8% All Other Categories 469,234 387,376 81,858 21.1% 4.2% 100.0% Total $11,101,954 $ 10,479,996 $ 621,958 5.9% 100.0% 10
Lodging Tax Lodging Tax Revenue received in is $151,996 year-to-date. 4.6% lower than 2016 YTD SnapShot 11
Change 2016 Health Care Claims Claims Incurred OAP HRA Total Mar 512,191 39,087 551,278 YTD 1,775,860 231,931 2,007,791 Mar 757,463 228,920 986,383 YTD 2,333,250 493,271 2,826,521 Mar (245,272) (189,833) (435,105) % Mar -32.4% -82.9% -44.1% YTD (557,390) (261,339) (818,730) % YTD -23.9% -53.0% -29.0% HRA Health Reimbursement Arrangement 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. OAP Open Access Plan Comparison of YTD Claims Over $25k 2014 2015 2016 # of claims 23 22 19 16 YTD Cost of high claims $1,681,200 $1,433,744 $1,448,209 $798,587 # of StopLoss claims: 1 Projected YTD Reimbursements: $17,529 (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 $ 812,228 $ 29,829,071 Reimbursements Applied For To Date FEMA $ - $ 16,593,554 CIRSA - 7,158,899 Other 31,602 2,070,732 Total Reimbursements Received $ 31,602 $ 25,823,186 To Date FEMA $ - $ 13,311,262 CIRSA - $ 7,158,899 Other 31,602 $ 2,070,732 Total $ 31,602 $ 22,540,893 SnapShot 13
Activity Measures Measures Mar 2015 Mar 2016 Mar 2015 YTD 2016 YTD YTD # of Building Permits 215 227 225 545 584 544 Building Permit Valuations $17,998,339 $13,952,972 $ 20,688,525 $ 40,088,191 $ 44,373,716 $ 41,926,399 # of Certified Occupancies 17 63 48 80 162 244 Net # of Sales Tax Licenses (12) (28) 7 (60) (41) (17) New Residential Electric Meter Sets 105 41 45 243 152 105 # of Utility Bills Sent 37,373 38,287 38,959 111,864 114,709 116,736 Rounds of Golf 7,007 4,605 7,652 11,719 7,028 12,487 $ Average Health Claim Costs/Emp. $ 1,216 $ 1,380 $ 1,331 $ 1,442 $ 1,337 $ 1,345 KWH Demand (kh) 95,581 83,594 87,959 291,978 273,965 285,872 KWH Purchased (kwh) 58,944,759 58,228,289 55,263,653 182,954,741 177,304,579 169,317,329 Gallons of Water Sold 141,193,276 138,534,234 139,484,644 453,472,733 430,288,261 436,718,403 # of Workers' Comp Claims 10 5 4 24 22 15 $ of Workers' Comp Claims $ 27,189 $ 75,577 $ 29,563 $ 163,830 $ 118,638 $ 73,451 # of Total Open Claims 16 13 14 Not Cumulative $ of Total Open Claims 423,712 395,690 446,586 Not Cumulative $ of Lodging Tax Collected $ 57,107 $ 56,227 $ 54,861 $ 168,017 $ 159,399 $ 151,996 14
Quarterly Rialto Report Statement of Results of Operations for Rialto Theater Center For Quarter Ending 3/31/ YTD Amount YTD % of 2016 YTD Amount % Change from Prior Year Rialto Theater Rialto Theater Revenues Revenues from Operations 77,307 79,075 97.76% 67,348 14.79% Gifts/Donations 20,000 6,251 319.95% 20,100-0.50% Transfers from Lodging Tax Fund 6,250 6,249 100.02% 25,000-75.00% Total Rialto Theater Revenues 103,557 91,575 113.08% 112,448-7.91% Rialto Theatre Expenses Personnel Costs 94,939 93,424 101.62% 85,143 11.51% Supplies 4,960 4,280 115.89% 5,105-2.85% Purchased Services 44,262 73,330 60.36% 55,243-19.88% Capital Outlay - 10,000 0.00% - 0.00% Total Direct Cost 144,161 181,034 79.63% 145,491-0.91% Administrative Allocations 54,453 54,453 100.00% 45,900 18.63% Total Rialto Theater Expenses 198,614 235,487 84.34% 191,391 3.77% Rialto Theater Net Income (Loss) (95,056) (143,912) 66.05% (78,943) 20.41% Rialto Event Center Rialto Event Center Revenues Revenues from Operations 3,515 5,526 63.61% 4,130-14.89% Gifts/Donations - - 0.00% - 0.00% Total Event Center Revenues 3,515 5,526 63.61% 4,130-14.89% Rialto Event Center Expenses Personal Services 5,437 2,580 210.72% 4,965 9.50% Supplies 42-59 -27.87% Purchased Services - 14,085 0.00% - Capital Outlay - - 0.00% - 0.00% Total Rialto Event Center Expenses 5,479 16,665 32.88% 5,024 9.06% Rialto Event Center Net Income (Loss) (1,964) (11,139) 17.63% (894) 119.76% Grand Total Rialto Theater Center Revenues 107,072 97,101 110.27% 116,578-8.15% Grand Total Rialto Theater Center Expenses 204,093 252,152 80.94% 196,415 3.91% Rialto Theater Center Net Income (Loss) (97,020) (155,051) 62.57% (79,837) 21.52% SnapShot 15
SnapShot For more information regarding this report contact: Brent Worthington Finance Director 970.962.2300 or brent.worthington@cityofloveland.org 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