General Fund Revenues Budget Actual Actual Budget Actual Actual FY 2014 8-31-2013 8-31-2012 FY 2014 8-31-2013 8-31-2012 GENERAL PROPERTY TAXES: NON-CATEGORICAL AID: Current Real Estate Taxes 9,460,000 0 0 Rolling Stock/Rental Car Taxes 21,000 11,860 2,363 Delinquent Real Property Taxes 140,000 47,386 57,065 Grantor's Taxes (Tax On Deeds) 50,000 18,733 17,630 Public Service Corp - RE & PP Taxes 342,120 0 0 Total Non-Categorical Aid 71,000 30,593 19,993 Current Personal Property Taxes 1,350,000 38,679 38,679 Delinquent Personal Property Taxes 25,000 10,138 5,269 SHARED COSTS-CATEGORICAL: Current Business Property Taxes 1,225,000 0 0 Comm. Atty / Sheriff / Med. Examiner 1,800 18 1,227 Delinquent Business Property Taxes 20,000 6,100 4,612 Commissioner of Revenue 69,200 12,336 11,575 Penalties and Interest 90,600 17,143 14,104 Treasurer 16,500 2,658 1,876 Total General Property Taxes 12,652,720 119,446 119,729 Registrar 36,700 0 0 Total Shared Costs 124,200 15,012 14,678 LOCAL TAXES: Virginia Power/VNG 290,000 49,483 55,671 EDUCATION: Communication Taxes 740,000 116,297 125,291 State Sales Tax 985,974 161,084 129,445 Business Licenses Taxes 1,550,000-4,551 4,493 Franchise License Taxes 129,000 15,518 16,084 OTHER CATEGORICAL AID: Bank Stock Taxes 190,000 0 0 599 Funds 373,313 0 0 Recordation Taxes 160,000 23,493 43,103 Emergency Services Grants 25,000 25,000 0 Cigarette Taxes 180,000 21,744 59,354 FEMA Reimbursement 0 0 137,245 Room Taxes 3,300,000 772,845 789,557 Streets & Sidewalks 1,565,000 0 0 $2 Lodging Taxes 1,300,000 268,918 286,158 Fire Programs 49,000 6,277 5,314 Meal Taxes 6,372,000 1,210,251 1,223,859 Total Other Categorical Aid 2,012,313 31,277 142,559 Total Other Local Taxes 14,211,000 2,473,998 2,603,570 NON-REVENUE RECEIPTS: PERMITS AND LICENSES: 134,630 34,865 22,288 Overtime-Police & Fire 90,000 25,750 6,990 Arts Commission 65,000 65,000 65,000 FINES AND FORFEITURES: 220,500 36,778 62,783 Enterprise Fund - Overhead Charges 620,000 0 0 Total Non-Revenue Receipts 775,000 90,750 71,990 USE OF MONEY AND PROPERTY: Rents 618,325 116,935 100,248 Subtotal General Fund Revenue 33,176,575 3,303,693 3,554,631 Sale of Materials & Supplies 9,000 0 103,076 Transfer From (To) Surplus 95,855 2,431,172 2,063,350 Total Use of Money and Property 627,325 116,935 203,324 TOTAL GENERAL FUND REVENUES 33,272,430 5,734,865 5,617,981 FEES AND CHARGES: Parks & Recreation 385,650 74,528 75,903 Planning & Comm. Development 36,600 6,725 10,144 Payments In Lieu of Taxes 99,000 0 0 EMS Recovery Fees 530,000 97,180 66,325 Emergency Service Agreement 250,000 0 0 Other 60,663 14,522 11,900 Total Fees and Charges 1,361,913 192,955 164,272 FIN - 1
General Fund Expenditures Budget Actual Actual Budget Actual Actual FY 2014 8-31-2013 8-31-2012 FY 2014 8-31-2013 8-31-2012 LEGISLATIVE: PUBLIC WORKS: Mayor and City Council 136,269 24,024 36,245 Engineering 259,027 46,938 43,409 Clerk of Council 170,822 30,127 26,151 Street Department 1,087,980 188,510 210,217 Total Legislative 307,091 54,152 62,396 Refuse Collection 673,250 123,633 82,982 Facilities Maintenance 446,130 103,426 92,754 GENERAL & FINANCIAL ADMINISTRATION: Landscaping 539,155 106,977 128,483 City Manager 537,770 98,384 91,373 Total Public Works 3,005,542 569,483 557,845 Non-departmental - Contingency 359,550 51,164 344,252 Economic Development 218,992 33,068 17,693 HEALTH & HUMAN SERVICES: Legal-City Attorney 248,699 44,311 34,800 Health Agencies 184,171 108,615 108,015 Human Resources 100,391 16,937 17,146 Mosquito Control 6,950 5,948 159 Triangle Management 47,680 1,367 0 Colonial Behavioral Health 250,405 125,203 122,930 Commissioner of Revenue 204,063 33,120 29,910 Public Assistance 802,651 864 835 City Assessor 170,610 33,590 34,064 Total Health & Human Services 1,244,177 240,631 231,939 Treasurer 56,848 11,142 11,484 Finance 709,411 121,483 105,600 EDUCATION: 8,380,656 1,242,174 1,102,374 Information Technology 627,079 127,357 137,621 City Shop 237,422 43,266 40,455 PARKS AND RECREATION: Total General & Financial Admistration 3,518,515 615,188 864,398 Administration 416,156 71,060 65,394 Supervision of Parks 229,516 42,178 41,416 BOARD OF ELECTIONS: Programs 598,879 123,769 131,223 Electoral Board and Officials 23,039 4,576 4,414 Cemetery 63,209 11,724 11,896 Registrar 93,129 13,925 12,595 Total Parks and Recreation 1,307,760 248,731 249,929 Total Board of Elections 116,168 18,501 17,009 CULTURAL: ADMINISTRATION OF JUSTICE: Williamsburg Regional Library 820,506 136,584 136,604 Joint Activities - Courthouse 420,000 47,098 59,319 COMMUNITY DEVELOPMENT: PUBLIC SAFETY: Planning 487,673 83,576 80,469 Police 4,256,563 657,939 580,159 Contributions - WADMC 1,300,000 127,712 139,100 Prince George Parking Garage 135,915 24,665 23,073 Contributions - Other Tourism Promotion 1,950,000 162,500 162,500 Fire 3,655,523 611,749 583,437 Contributions To Other Entities 685,862 599,635 554,229 Regional Jail 1,191,240 199,613 116,208 Total Community Development 4,423,535 973,422 936,298 Juv Det/Group Home Com/Colonial Com Cor 139,422 27,980 39,567 Codes Compliance 330,817 62,189 57,342 TOTAL GENERAL FUND EXPENDITURES 33,272,430 5,734,865 5,617,981 Animal Control 18,900 4,725 0 Medical Examiner 100 40 84 Total Public Safety 9,728,480 1,588,901 1,399,870 FIN - 2
Sales Tax Fund Budgeted Actual Actual Revenue Collected Collected REVENUES: FY 2014 8-31-2013 8-31-2012 Local 1% Taxes 4,200,000 779,902 744,135 Delinquent Local 1% Taxes 0 315,080 0 Interest Income 100,000 22,220 25,349 Courthouse Maintenance Transfer 150,000 0 1,631 State School Construction Funds 0 0 0 Bond Proceeds 5,500,000 0 0 Miscellaneous 0 0 10,000 Grant Revenue 492,000 8,360 0 Transfer from Fund Balance (1,523,693) 0 0 TOTAL REVENUES 8,918,307 1,125,562 781,115 Prior Budgeted Total Actual Year's Expenditures Adjusted Expended EXPENDITURES: *Carryover FY 2014 Budget 8-31-2013 Public Works: Prince George Street Reconstruction 75,000 75,000 5,922 Annual Street Resurfacing Program 450,000 450,000 35,874 Signage & Pavement Markings 48,000 48,000 Stormwater Management Improvements 60,000 60,000 11,120 Sidewalk Construction 4,785 Underground Wiring 280,000 280,000 Public Safety: E-911 Regional Center 45,000 45,000 45,000 Fire Station Improvements 70,000 70,000 36,421 Fire/EMS Equipment - Compressors 70,000 70,000 Recreation & Open Space: Quarterpath Park Improvements 90,000 90,000 General Government: Regional Corridor Program 400,000 400,000 Stryker Building Replacement 5,500,000 5,500,000 5,400 IT - PC Replacement Program 30,000 30,000 28,950 IT - Server Virtualization 20,000 20,000 15,937 IT - Wireless Network Replacement 40,000 40,000 35,783 Vehicles & Equipment 337,000 337,000 Debt Service 836,177 836,177 Capital Contingency 200,000 200,000 103,705 Courthouse Maintenance-Special Projects 150,000 150,000 Capital Contribution - WJCC Schools 217,130 217,130 222,199 TOTAL EXPENDITURES 0 8,918,307 8,918,307 551,096 *Prior year's carryover represents amounts unspent at 6/30/13, and will be added in November based on audited prior year project balances available. FIN - 3
Utility Fund WATER & SEWER - OPERATIONS Budgeted Actual Actual REVENUES: FY 2014 8-31-2013 8-31-2012 Water Service 4,431,000 755,226 783,943 Sewer Service 1,460,000 264,686 263,355 Water Connections 2,000 2,800 0 HRSD Tap Fees 50,000 1,895 3,790 Sewer Connections 1,000 800 0 Penalties-Late Payments 18,000 2,911 2,509 Other Sources 8,000 648 240 Water Tower Usage 162,040 36,300 36,300 Interest Earnings 26,000 4,826 5,185 Availability Fees 160,000 23,000 21,000 XFER - Retained Earnings For Operations (145,881) 0 0 Total Revenues 6,172,159 1,093,092 1,116,322 EXPENSES: Administration 1,921,482 63,186 56,633 Water Treatment 1,330,991 225,981 213,912 Water System 572,944 110,532 123,698 Sewage System 2,038,854 483,099 474,076 Debt Service 237,888 0 0 Newport News Supplemental Water 70,000 516 1,615 Total Expenses 6,172,159 883,314 869,934 Excess of Operating Revenues over Expenses 0 209,778 246,388 WATER & SEWER - CAPITAL PROJECTS Prior Year Budgeted Total Adjusted Actual Expended *Carryover FY 2014 Budget 8-31-2013 Water Line Improvements 0 40,000 40,000 Water Treatment Improvements 0 125,000 125,000 Waller Mill Dam Improvements 0 40,000 40,000 Sewer System Rehab-SSO 0 400,000 400,000 85,281 Water/Sewer System Contingency 0 75,000 75,000 9,865 Water Tank Painting 0 400,000 400,000 Watershed Protection/Water Quality 0 60,000 60,000 Total Expenses 0 1,140,000 1,140,000 95,146 *Prior year's carryover represents amounts unspent at 6/30/13, and will be added in November based on audited figures. FIN - 4
Room, Meal, and 1% Tax Receipts ROOM TAXES*: MEAL TAXES*: OF ACTIVITY FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 % Change Over FY 2013 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 % Change Over FY 2013 JUNE 373,079 362,905 377,845 388,496 380,690-2.01% 527,623 553,364 598,246 615,215 596,121-3.10% JULY 433,585 454,703 454,148 401,498 378,282-5.78% 572,342 608,088 614,752 608,005 602,775-0.86% AUG 404,518 409,066 359,917 368,515 550,640 575,451 535,104 576,230 SEPT 250,775 254,629 266,137 276,579 452,965 486,849 508,197 536,497 OCT 324,731 351,657 320,972 311,838 514,994 569,392 577,094 558,062 NOV 209,408 226,885 230,936 251,408 423,195 455,695 489,462 526,029 DEC 244,968 275,076 284,450 287,582 500,849 515,639 587,094 613,146 JAN 82,536 79,136 83,540 98,052 260,345 284,448 317,676 332,767 FEB 111,080 124,300 131,495 121,703 301,801 350,057 380,600 362,861 MARCH 201,783 172,572 193,373 276,634 421,180 420,103 473,608 537,892 APRIL 328,785 348,117 364,117 310,333 540,181 592,177 622,409 581,899 MAY 293,223 310,405 318,780 306,292 510,190 534,132 568,433 552,324 TOTAL 3,258,471 3,369,451 3,385,710 3,398,930 758,971-3.93% 5,576,305 5,945,395 6,272,675 6,400,926 1,198,896-1.99% * For Year/Month comparability, Room & Meal Tax receipts are shown for the month of the activity, not the month received. SUBMITTED TO CITY * 1% SALES TAX REVENUES OF ACTIVITY FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 % Change Over FY 2013 2 year Trend 3 year Trend JULY MAY 343,393 383,212 420,502 397,452 323,317 332,913 318,212 362,793 358,893-1.08% 12.78% 7.80% AUG JUNE 361,100 444,266 520,813 399,955 378,126 360,190 370,851 381,342 421,010 10.40% 13.53% 16.89% SEPT JULY 420,065 428,324 440,744 417,193 355,356 388,998 406,585 384,312 OCT AUG 392,265 436,096 427,924 362,906 356,961 365,448 376,436 365,223 NOV SEPT 387,380 399,128 408,674 298,662 310,560 333,642 298,176 365,864 DEC OCT 314,007 469,743 521,796 339,220 358,732 377,128 382,026 340,142 JAN NOV 345,817 376,100 361,022 293,199 307,528 316,052 331,761 363,157 FEB DEC 418,138 472,264 427,751 366,847 399,000 373,554 419,484 422,543 MARCH JAN 214,402 249,672 210,932 185,660 225,941 247,379 216,043 235,738 APRIL FEB 261,144 257,189 238,341 196,952 206,963 235,780 263,824 258,308 MAY MARCH 296,417 365,341 338,553 302,404 322,218 269,636 323,127 351,036 JUNE APRIL 426,090 472,620 388,883 379,789 348,702 366,773 399,534 313,021 TOTAL 4,180,218 4,753,955 4,705,935 3,940,240 3,893,404 3,967,494 4,106,059 4,143,481 779,902 4.81% 13.18% 12.52% * Represents cash collections during these months which is 2 months later than the actual sales. Sales tax [6% in Hampton Roads as of July,1 2013] is collected by local businesses, submitted to the State Department of Taxation, with 1% returned to the City. FIN - 5
ANALYSIS OF ROOM, $2 LODGING, AND MEAL TAXES TOTAL ROOM SALES: OF ACTIVITY FY 2010 FY 2011 over prior yr FY 2012 over prior yr FY 2013 over prior yr FY 2014 over prior yr 2 year Trend 3 year Trend JUNE 7,461,580 7,258,100-2.73% 7,556,900 4.12% 7,769,920 2.82% 7,613,794-2.01% 0.75% 4.90% JULY 8,671,700 9,094,060 4.87% 9,082,960-0.12% 8,029,960-11.59% 7,565,635-5.78% -16.71% -16.81% AUG 8,090,360 8,181,320 1.12% 7,198,340-12.01% 7,370,300 2.39% SEPT 5,015,500 5,092,580 1.54% 5,322,740 4.52% 5,531,580 3.92% OCT 6,494,620 7,033,140 8.29% 6,419,440-8.73% 6,236,760-2.85% NOV 4,188,160 4,537,700 8.35% 4,618,720 1.79% 5,028,160 8.86% DEC 4,899,360 5,501,520 12.29% 5,689,000 3.41% 5,751,640 1.10% JAN 1,650,720 1,582,720-4.12% 1,670,800 5.57% 1,961,036 17.37% FEB 2,221,600 2,486,000 11.90% 2,629,900 5.79% 2,434,051-7.45% MARCH 4,035,660 3,451,440-14.48% 3,867,460 12.05% 5,532,679 43.06% APRIL 6,575,700 6,962,340 5.88% 7,282,340 4.60% 6,206,666-14.77% MAY 5,864,460 6,208,100 5.86% 6,375,600 2.70% 6,125,844-3.92% TOTAL 65,169,420 67,389,020 3.41% 67,714,200 0.48% 67,978,597 0.39% 15,179,429-3.93% -8.78% -7.17% TOTAL $2 LODGING TAX RECEIPTS: OF ACTIVITY FY 2010 FY 2011 over prior yr FY 2012 over prior yr FY 2013 over prior yr FY 2014 over prior yr 2 year Trend 3 year Trend JUNE 140,598 138,894-1.21% 135,614-2.36% 137,880 1.67% 128,304-6.95% -5.39% -7.62% JULY 168,840 180,272 6.77% 160,300-11.08% 147,264-8.13% 136,516-7.30% -14.84% -24.27% AUG 157,352 162,784 3.45% 140,682-13.58% 136,250-3.15% SEPT 101,226 97,136-4.04% 105,316 8.42% 101,438-3.68% OCT 117,728 126,364 7.34% 120,920-4.31% 108,022-10.67% NOV 81,330 84,652 4.08% 79,320-6.30% 86,974 9.65% DEC 87,652 88,078 0.49% 92,716 5.27% 92,122-0.64% JAN 42,182 39,614-6.09% 40,028 1.05% 46,670 16.59% FEB 56,806 61,548 8.35% 60,538-1.64% 58,980-2.57% MARCH 88,894 83,146-6.47% 79,584-4.28% 109,398 37.46% APRIL 126,006 128,104 1.67% 129,880 1.39% 105,842-18.51% MAY 109,260 112,642 3.10% 116,838 3.73% 109,478-6.30% TOTAL 1,277,874 1,303,234 1.98% 1,261,736-3.18% 1,240,318-1.70% 264,820-7.13% -10.51% -17.03% TOTAL MEAL SALES: OF ACTIVITY FY 2010 FY 2011 over prior yr FY 2012 over prior yr FY 2013 over prior yr FY 2014 over prior yr 2 year Trend 3 year Trend JUNE 10,552,460 11,067,280 4.88% 11,964,920 8.11% 12,304,300 2.84% 11,922,421-3.10% -0.36% 7.73% JULY 11,446,840 12,161,760 6.25% 12,295,040 1.10% 12,160,100-1.10% 12,055,500-0.86% -1.95% -0.87% AUG 11,012,800 11,509,020 4.51% 10,702,080-7.01% 11,524,600 7.69% SEPT 9,059,300 9,736,980 7.48% 10,163,940 4.38% 10,729,940 5.57% OCT 10,299,880 11,387,840 10.56% 11,541,880 1.35% 11,161,240-3.30% NOV 8,463,900 9,113,900 7.68% 9,789,240 7.41% 10,520,575 7.47% DEC 10,016,980 10,312,780 2.95% 11,741,880 13.86% 12,262,916 4.44% JAN 5,206,900 5,688,960 9.26% 6,353,520 11.68% 6,655,337 4.75% FEB 6,036,020 7,001,140 15.99% 7,612,000 8.73% 7,257,216-4.66% MARCH 8,423,600 8,402,060-0.26% 9,472,160 12.74% 10,757,836 13.57% APRIL 10,803,620 11,843,540 9.63% 12,448,180 5.11% 11,637,983-6.51% MAY 10,203,800 10,682,640 4.69% 11,368,660 6.42% 11,046,486-2.83% TOTAL 111,526,100 118,907,900 6.62% 125,453,500 5.50% 128,018,529 2.04% 23,977,921-1.99% -1.16% 3.22% FIN - 5A
Status of Funds CASH & INVESTMENTS: CASH EQUIVALENTS: INVESTMENTS: COMPARISON COMPARISON COMBINED LOCAL GOV'T CERTIFICATES INSURED TOTAL CORP. & CHECKING INVESTMENT OF CASH CASH GOV'T 3 S 12 S FUND (interest-bearing) POOL** DEPOSIT *** SWEEP **** EQUIV. SECURITIES TOTAL AGO AGO GENERAL FUND $5,155,181 $1,482,800 $4,000,000 $14,197,550 $24,835,531 $0 $24,835,531 $25,392,906 $22,462,025 SALES TAX FUND $447,201 $39,344 0 0 $486,545 0 $486,545 $290,975 $816,890 ENTERPRISE FUND $374,089 $821,508 3,000,000 0 $4,195,597 0 $4,195,597 $4,158,811 $4,235,423 WATER DEPOSIT FUND $32,269 $15,000 0 0 $47,269 0 $47,269 $51,029 $50,128 COURTHOUSE MTCE FUND $0 $171,311 0 0 $171,311 0 $171,311 $162,573 $244,360 TOTAL $6,008,740 $2,529,963 $7,000,000 $14,197,550 $29,736,253 $0 $29,736,253 $30,056,294 $27,808,826 INVESTMENT AUG 31, 2013 MAY 31, 2013 AUG 31, 2012 POLICY ACTUAL ACTUAL ACTUAL % OF PORTFOLIO MATURING WITHIN 30 DAYS (MIN.) 10.00% 76.46% 76.70% 74.82% LONG-TERM DEBT: % OF PORTFOLIO MATURING WITHIN 12 S (MIN.) 50.00% 83.19% 80.03% 92.80% % OF PORTFOLIO MATURING BETWEEN 12 AND 36 S (MAX.) 50.00% 16.81% 19.97% 7.20% TOTAL 100% 100% 100% ISSUE PRINCIPAL PURPOSE ISSUE DATE AMOUNT BALANCE: TERMS: GO Refunding Bonds 2012 June, 2012 $5,180,000 $4,570,000 8 years, 2.40%, interest paid semi-annually, principal paid annually GO Refunding Bonds 2010 October, 2010 $10,635,000 $8,830,000 17 years, 2.75%, interest paid semi-annually, principal paid annually Total $15,815,000 $13,400,000 ** State's LGIP interest rate at end of month =.11% - compared to.18% in August, 2012 *** 5 CDs - 24 month, with staggered maturity dates, weighted average earnings rate =.91% **** ICS account, fully insured by FDIC, earnings rate =.60% FIN - 6