$1,200,000 $1,000,000 $800,000 $600,000 $400,000 Net Quick Assets Target = $475,816 (5 months operating expenses) 12 Month Average Monthly Operating Expenses = $95,163 Current Assets Current Liabilities Current Net FINANCIAL DASHBOARD Through June 30, 2018 Net Quick Assets Jun 17 = $576,532 Jul 17 = $589,906 Aug 17 = $616,157 Sep 17 = $630,350 Oct 17 = $655,717 Nov 17 = $660,566 Dec 17 = $657,057 Jan 18 = $681,968 Feb 18 = $671,581 Mar 18 = $674,057 Apr 18 = $673,207 May 18 = $683,785 Jun 18 = $685,253 NET QUICK ASSETS are the highly liquid assets held by the agency, including cash, marketable securities and accounts receivable. Net quick assets (NQA) are calculated as current assets (cash + marketable securities + prepaid assets + accounts receivable) minus current liabilities of payables and deferred revenue. The target has been revised to 5 months of operating expenses (TJPDC costs minus pass-through and project contractual expenses), based on a rolling twelve-month average. The Commission has earmarked excess NQA above the target as the Capital Reserve Fund. TJPDC had 7.20 months of operating expenses at the end of the month. The rolling twelve-month average operating expenses changes only slightly from month to month, increasing from to $94,453 in May to $95,163 in June. The 3-month average of expenses is $97,683. Actual operating expenses for June were $94,952. Funds available for the Capital Reserve Fund are $209,437 (Actual NQA minus target NQA). $600,000 $500,000 $400,000 $300,000 $100,000 Unrestricted Cash on Hand Target = $380,653 (4 months operating expenses) Concern Area = <$190,327 (2 months operating expenses) UNRESTRICTED CASH ON HAND consists of funds held in checking and money market accounts immediately available to TJPDC for expenses. Cash does not include pass-through deposits in transit. Total cash minus notes payable minus deferred revenue = Unrestricted Cash on Hand. Months of Unrestricted Cash divides unrestricted cash on hand by the agency s average monthly operating expenses to give the number of months of operation without any additional cash received. The end of month level of Unrestricted Cash on Hand of $451,069 represents 4.74 months of operating expenses.
$250,000 $150,000 $100,000 $50,000 -$50,000 Revenue Less Expenses Goal = $4,166 ($50,000 annually) Concern Area = 3 consecutive negative months Rev Exp Pass Thru Exp Total Exp Net Change FINANCIAL DASHBOARD Through June 30, 2018 Monthly Net Revenue Jun 17 = $24,392 Jul 17 = $9,520 Aug 17 = $23,413 Sep 17 = $13,250 Oct 17 = $22,812 Nov 17 = $3,488 Dec 17 = ($1,569) Jan 18 = $7,975 Feb 18 = $2,225 Mar 18 = $2,238 Apr 18 = ($704) May 18 = $10,579 Jun 18 = $7,830 NET REVENUE is the surplus or shortfall resulting from monthly revenues minus expenses. The Operating Budget adopted in March 2018 projects a surplus of $83,785 for the year. There was surplus for June of $7,830. The resulting year-to-date surplus is $101,245. Additional funds out of projects of about $64,000 will carry forward to FY19. NOTES 1. Target is a reasonable expectation that the TJPDC may reach this level to achieve our long range financial goals. A plan will be developed showing how these target goals are expected to be achieved through daily financial management practices. 2. Concern is a level where staff will immediately identify causes of the change in financial position, whether this is a special one-time circumstance caused by a financial action or whether a trend is emerging caused by one of more operational or financial circumstances and prepare a plan of action to correct or reverse the trend. 3. Back up documentation and details of this Financial Dashboard can be found in the monthly financial statements of balance sheet, income statement and cash position statement supplied to the TJPDC Commissioners. 4. The average monthly operating expense is a rolling twelve-month average of operating expenses (TJPDC costs minus pass-through and project contractual expenses). 5. TJPDC achieved its FY17 goal of exceeding $500,000 in Net Quick Assets before the end of the year. The Commission has earmarked some of TJPDC s reserves for a building or capital fund, tied to Net Quick Assets.
Thomas Jefferson Planning District Commission 10:37 AM Consolidated Profit and Loss 07/24/18 June 2018 Accrual Basis Jun 18 Budget Jul '17 - Jun 18 YTD Budget Annual Budget Ordinary Income/Expense Income 41100 Federal Funding Source 47,315 93,375 860,016 1,135,104 1,135,104 4120 State Funding Source 16,807 23,489 254,212 281,872 281,872 4130 Local Source 62,501 39,313 431,932 472,577 472,577 42000 Local Match Per Capita 12,839 12,839 154,070 154,070 154,070 4280 Interest Income 1,124 212 5,601 2,545 2,545 Total Income 140,586 169,229 1,705,831 2,046,168 2,046,168 Gross Profit 140,586 169,229 1,705,831 2,046,168 2,046,168 Expense 61000 Personnel 75,144 73,553 882,170 886,385 886,385 62391 Postage Expense 2,388 335 3,372 4,020 4,020 62392 Subscriptions, Publications 59 55 829 657 657 62393 Supplies 482 679 6,054 8,147 8,147 62394 Audit -Legal Expenses 0 0 15,735 16,500 16,500 6240 Advertising 1,479 2,306 16,996 28,492 28,492 62404 Meeting Expenses 725 797 7,202 9,564 9,564 62410 TJPDC Contractual 2,554 4,353 28,682 59,178 59,178 6281 Dues 727 769 10,782 9,223 9,223 62850 Insurance 179 275 3,611 3,300 3,300 62890 Printing/Copier 675 530 5,659 6,428 6,428 63200 Rent Expense 7,284 7,512 86,990 90,648 90,648 63210 Equipment/Data Use 1,331 2,104 25,317 25,245 25,245 63220 Telephone Expense 471 497 5,952 5,966 5,966 63300 Travel-Vehicle 781 1,384 15,766 15,523 15,523 6345 Janitorial Service 671 910 10,266 10,920 10,920 6390 Professional Development 0 1,296 15,509 16,052 16,052 Total Expense 94,952 97,354 1,140,892 1,196,248 1,196,248 Net Ordinary Income 45,634 71,875 564,939 849,920 849,920 Other Income/Expense Other Expense 83000 HOME Pass-Through 26,135 35,113 357,736 421,350 421,350 8399 Grants Contractual Services 11,669 28,732 105,958 344,785 344,785 Total Other Expense 37,804 63,845 463,694 766,135 766,135 Net Other Income (37,804) (63,845) (463,694) (766,135) (766,135) Net Income 7,830 8,030 101,245 83,785 83,785 Page 1
12:54 PM 07/24/18 Accrual Basis Thomas Jefferson Planning District Commission Balance Sheet Prev Year Comparison As of June 30, 2018 Jun 30, 18 Jun 30, 17 $ Change ASSETS Current Assets Checking/Savings 1100 Cash 470,642.11 382,922.31 87,719.80 1189 Capital Reserve 209,437.00 0.00 209,437.00 Total Checking/Savings 680,079.11 382,922.31 297,156.80 Accounts Receivable 1190 Receivable Grants 246,801.12 216,958.74 29,842.38 Total Accounts Receivable 246,801.12 216,958.74 29,842.38 Other Current Assets 1310 Prepaid Rent 1,250.00 1,250.00 0.00 1330 Prepaid Insurance 4,745.00 4,916.00-171.00 1360 Prepaid Other 6,622.18 9,006.32-2,384.14 Total Other Current Assets 12,617.18 15,172.32-2,555.14 Total Current Assets 939,497.41 615,053.37 324,444.04 Fixed Assets 1400 Office furniture and Equipment 111,737.79 111,737.79 0.00 1410 Server 11,384.00 11,384.00 0.00 1499 Accumulated Depreciation -117,389.14-109,150.90-8,238.24 Total Fixed Assets 5,732.65 13,970.89-8,238.24 TOTAL ASSETS 945,230.06 629,024.26 316,205.80 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2100 Accounts Payable-General 20,272.33 20,531.84-259.51 Total Accounts Payable 20,272.33 20,531.84-259.51 Credit Cards 2155 Accounts Payable Credit Card 4,651.25 3,160.23 1,491.02 Total Credit Cards 4,651.25 3,160.23 1,491.02 Other Current Liabilities 2150 Accounts Payable Grants 0.00 0.00 0.00 2160 Accounts Payable Payroll 312.00 720.00-408.00 2800 Deferred Revenue 229,009.91 13,483.60 215,526.31 Total Other Current Liabilities 229,321.91 14,203.60 215,118.31 Total Current Liabilities 254,245.49 37,895.67 216,349.82 Long Term Liabilities 2200 Leave Payable 44,553.54 44,541.05 12.49 Total Long Term Liabilities 44,553.54 44,541.05 12.49 Total Liabilities 298,799.03 82,436.72 216,362.31 Equity 3000 General Operating Fund 332,595.24 457,836.47-125,241.23 3100 Restricted Capital Reserve 209,437.00 0.00 209,437.00 3600 Net Investment in Fixed Assets 3,153.70 4,555.30-1,401.60 Net Income 101,245.09 84,195.77 17,049.32 Total Equity 646,431.03 546,587.54 99,843.49 TOTAL LIABILITIES & EQUITY 945,230.06 629,024.26 316,205.80 Page 1 of 1
Accrued Revenue by Grant or Contract For Year Ending June 30, 2018 Grant or Contract START DATE END DATE TOTAL JULY AUG SEPT OCT NOV DEC JAN FEB MARCH APRIL MAY JUNE YEAR TO DATE PREVIOUS YEARS BUDGETED AMOUNT FOR FY19 GRANT TO DATE REMAINING MPO-FTA 07/01/17 06/30/18 93,553 11,430 17,930 6,459 8,285 7,940 7,545 5,902 5,267 4,713 9,424 6,993 1,665 93,553 93,553 0 MPO-PL 07/01/17 06/30/18 186,722 19,867 17,509 13,819 15,688 15,890 10,531 11,737 12,029 18,408 15,512 19,851 15,881 186,722 186,722 0 MPO-HYDRAULIC 03/01/17 06/30/18 60,000 2,897 4,960 4,024 3,366 3,331 1,931 3,711 3,228 2,975 2,514 2,039 5,741 40,717 12,248 52,965 7,035 HOME TJPDC 07/01/17 06/30/18 45,794 3,456 4,308 3,258 3,096 4,572 4,677 4,114 5,555 7,304 2,808 2,646 45,794 45,794 0 HOME PASS-THROUGH 07/01/17 06/30/18 421,350 95,407 81,118 43,357 6,730 19,839 76,000 9,151 26,135 357,737 357,737 63,613 HOUSING HPG 07/01/17 09/30/18 9,618 1,400 67 700 507 602 826 642 234 363 90 1,013 6,444 2,038 6,444 1,136 HPG PASS-THROUGH 07/01/17 09/30/18 54,615 2,957 2,914 2,257 4,100 7,897 3,657 10,542 1,855 2,780 38,959 11,547 38,959 4,109 STATE SUPPORT TO PDC 07/01/17 06/30/18 75,971 6,330 6,331 6,331 6,331 6,331 6,331 6,331 6,331 6,331 6,331 6,331 6,331 75,971 75,971 0 CLEAN COMMUTE DAY 07/01/17 06/30/18-50 -50-50 -50 0 RIDESHARE 07/01/17 06/30/18 173,917 13,209 25,624 17,133 20,073 18,260 11,384 12,174 8,400 12,182 10,660 14,535 10,300 173,934 173,934-17 RURAL TRANSPORTATION 07/01/17 06/30/18 58,000 4,357 4,431 6,271 5,789 3,978 8,412 9,150 9,156 2,880 1,014 2,562 58,000 58,000 0 CACF GREENWAYS GRANT 07/01/17 07/01/19 35,464 1,120 2,082 1,025 2,951 1,390 937 993 824 446 3,509 424 7,172 22,873 12,648 22,873 GO VIRGINIA 06/13/17 12/31/17 4,947 1,726 1,239 1,982 4,947 4,947 0 CHERRY AVE 08/30/17 11/30/18 127,134 2,010 3,565 4,404 4,142 3,911 4,375 6,340 5,778 16,307 15,094 65,926 42,378 65,926 18,830 RUCKERSVILLE AREA PLAN 08/01/17 03/31/18 21,390 2,897 3,089 3,642 3,912 3,115 2,872 1,863 21,390 21,390 0 TJPDC CORPORATION 07/01/17 06/30/18 5,345 794 1,348 776 1 7 8 80 606 88 316 830 491 5,345 5,345 0 LEGISLATIVE LIAISON 07/01/17 06/30/18 99,400 5,909 7,654 8,506 9,485 9,863 7,356 9,210 8,283 8,283 8,283 8,283 8,283 99,400 99,400 0 SOLID WASTE 07/01/17 06/30/18 10,500 45 70 210 351 210 27 152 11 2,715 3,791 3,791 6,709 RIVANNA RIVER CORRIDOR 07/01/17 06/30/18 15,000 370 1,994 1,496 1,499 176 2,815 5,302 1,299 49 15,000 15,000 0 RRBC 07/01/17 06/30/18 2,160 133 63 275 63 203 63 63 79 1,080 2,022 2,022 138 RRBC PASS-THROUGH 07/01/17 06/30/18 8,340 0 0 8,340 COLUMBIA- HMPG 02/29/16 09/15/18 42,000 2,106 811 1,279 2,458 1,091 830 1,499 463 454 91 180 892 12,154 18,975 3,025 31,129 7,846 VDEM PASS-THROUGH 02/29/16 09/15/18 157,500 2,331 2,331 2,331 155,169 HAZARD MITIGATION 03/21/16 04/30/18 45,000 619 2,321 2,696 1,723 3,050 0 439 1,282 1,141 687 467 14,425 30,578 45,000 0 TJCLT 10/19/17 10/19/19 78,500 126 4,048 4,749 4,343 1,699 21 14,986 63,173 14,986 341 MEMBER PER CAPITA 07/01/17 06/30/18 154,070 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12,839 12,839 154,070 154,070 0 WATER STREET CENTER 07/01/17 06/30/18 8,978 315 683 620 525 630 525 1,695 455 945 525 1,360 700 8,978 8,978 0 OFFICE LEASES - RENT 07/01/17 06/30/18 8,400 700 700 700 700 700 700 700 700 700 700 700 700 8,400 8,400 0 OFFICE LEASES - DIRECT COSTS 07/01/17 06/30/18 213 49 14 26 6 50 51 17 213 213 0 STANARDSVILLE TAP 04/06/15 10/01/19 25,500 407 26 101 304 76 127 455 403 469 907 783 503 4,561 6,585 11,146 14,354 ALBEMARLE CTY PLAN REVIEW 07/01/17 06/30/18 58,664 1,869 2,300 2,732 2,891 2,054 2,950 5,359 5,721 6,920 5,921 9,626 10,321 58,664 58,664 0 ALBEMARLE CTY FACILITATION 07/01/17 12/31/17 417 159 258 417 417 0 ALB COUNTY PILOT INVENTORY 01/12/18 06/30/18 20,000 1,860 1,011 52 1,850 9,473 14,246 14,246 5,754 SHRP2 I-64 10/01/16 12/31/17 70,000 7,922 6,427 9,190 5,914 204 29,657 40,343 70,000 0 SHRP2 I-64 Pass Through 10/01/16 12/31/17 30,000 8,994 1,398 10,392 19,608 30,000 0 5TH STREET TAP 11/16/16 10/01/20 56,000 178 907 261 588 576 813 1,705 863 1,275 240 227 286 7,919 7,821 38,179 15,740 2,081 5th STREET TAP Pass Through 11/16/16 10/01/20 543,880 2,303 6,000 3,586 9,079 2,223 12,558 4,591 40,340 443,880 40,340 59,660 BANK INTEREST 07/01/17 06/30/18 5,601 216 216 209 216 333-1,619 775 877 984 1,072 1,198 1,124 5,601 5,601 0 TOTAL 2,813,893 198,416 205,245 119,697 159,064 107,950 105,034 128,884 115,731 113,965 174,927 136,326 140,586 1,705,829 136,158 616,868 1,841,984 355,097 Pass-through funds $290,891 Op Expenses 12 month average $95,163 Contract funds 3 month average $97,683 TJPDC Available Funds $64,207 last month $94,952 Additional carryover to FY19 $64,207