CITY OF LARAMIE FINANCIAL OUTLOOK Malea Brown, Administrative Services Director Fiscal Year -
GENERAL FUND 2
GENERAL FUND Organization Structure HUMAN RESOURCES PATROL POLICE LARC RECORDS DISPATCH ANIMAL CONTROL CITIZENS OF LARAMIE FIRE/EMS CITY COUNCIL City Manager PARKS & RECREATION PARKS RECREATION ICE ARENA MOSQ CONTROL FACTILITES CEMETERY Summary ADMIN. SERVICES MUNICIPAL COURT UTILITY BILLING FINANCE PUBLIC WORKS STREET FLEET GEN GOV OTHER INFORMATION TECH. SAFETY CITY CLERK CITY COUNCIL CITY MGR GRANTS COMMUNITY DEVELOPMENT ENGINEERING CODE PLANNING The General Fund of the City of Laramie is used to account for financial resources that are not restricted to specific purposes. This fund accounts for basic City services such as public safety, public works, community services and general governmental services. The majority of services are paid for by sales tax revenues and one-time supplemental funding. Other revenues include grants, auto and property tax, franchise fees and charges for services. MUNICIPAL JUDGE CITY ATTORNEY GENERAL FUND ORGANIZATION STRUCTURE 3
GENERAL FUND REVENUE CATEGORIES FY BUDGET Charges for Services 5% General Fund Revenue Percent to Total Fines 3% Other Governmental 18% Licenses & Permits >1% Suppl Funding 18% Other Misc 5% Auto & Property Tax 7% Franchise Fee 5% Gas & Fuel Tax 3% Sales & Use tax 29% MR & Severance Tax 6% GENERAL FUND REVENUES FY2014 FY (In Thousands) General Fund Revenue Revenue Description: 2014 Auto & Property Tax $2,221 $2,256 $2,155 $2,180 $2,305 Franchise Fees 1,622 1,638 1,481 1,516 1,699 Sales & Use Tax 9,265 9,866 8,325 8,425 9,839 Cigarette Tax 102 101 100 100 101 Mineral Royalties 705 712 713 713 714 Severance Tax 1,144 1,150 1,147 1,147 1,145 Gasoline & Fuels Tax 984 1,051 770 820 1,058 Supplemental State Funding 5,561 4,810 4,811 5,262 5,260 Other Intergovernmental 4,619 2,156 4,180 5,089 2,488 Charges for Services 2,150 1,641 1,557 1,582 1,714 Fines & Forfeitures 905 807 885 865 714 Licenses & Permits 136 134 124 127 142 Enterprise Fund Net Transfers (charges less fees) 778 11,501 986 1,408 995 Capital transfers 0 0 0 0 0 Other Misc 1,119 2,894 734 107 1,562 Total Revenue $31,311 $40,717 $27,968 $29,341 $29,736 (1) FY sales and use tax collections (4 th & 5 th cent) were down slightly compared to FY. This was mostly due to a state correction (reduction) for previous period collections distributed by the state to the wrong county. (2) Sales and use tax revenue and direct & supplemental distribution from the State of Wyoming comprise 50% of the total operating revenue for the General Fund. (3) The City of Laramie only controls a small percentage of General Fund revenue sources: charges for services (5% to total) and to a lesser extent franchise fees (5% to total) and some miscellaneous revenue sources (2-5% to total). (4) See CAFR Statement of Revenues, Expenditures, and Changes in Fund Balance for detail. GENERL FUND REVENUE REPORT 4
Thousands Revenue : General Fund Sales Tax 4 th Cent $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 Sales & Use Tax 4th Cent Revenue: Sales & Use Tax by Year 4 th cent (In Thousands) FY 2014 FY FY $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $- July-Sept Oct-Dec Jan-March April-June Financial Summary SALES TAX SUMMARY 4 TH CENT $400,000 $200,000 FY 4 th cent sales and use tax collections were lower than the previous year totals, with a -0.27% change from FY. In May, the 4 th cent distribution was reduced by a state correction for previous period collections distributed by the state to the wrong county. $- July-Sept Oct-Dec Jan-March April-June 4th Cent - Sales 4th Cent - Use Sales and use tax collections are usually stronger in the 1 st and 2 nd quarters of the fiscal year (July December) and trend downward in the 3 rd and 4 th quarters (January June). 5
Thousands Revenue : General Fund Sales Tax 5 th Cent $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 Sales & Use Tax 5th Cent Revenue: Sales & Use Tax by Year 5th cent (In Thousands) FY 2014 FY FY $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 July-Sept Oct-Dec Jan-March April-June SALES TAX SUMMARY 5 TH CENT Financial Summary $200,000 $0 July-Sept Oct-Dec Jan-March April-June 5th Cent - Sales 5th Cent - Use FY 5 th cent sales tax and use collections were 1% lower than previous year totals. 5 th cent sales and use tax collections in FY totaled $4.54 M, which was $53,592 lower than in FY. This was primarily due to a state correction for previous period collections distributed to the wrong county. Sales and use tax collections are usually stronger in the 1 st and 2 nd quarters of the fiscal year (July December) and trend downward in the 3 rd and 4 th quarters (January June). 6
GENERAL FUND EXPENDITURES BY DEPT BUDGET Debt Service 1% Comm Dev 5% Clerk/Council 1% Cemetery 1% General Fund Expenditures- Percent to Total Executive City Mgr 2% Facil Main 1% Capital 18% Animal 1% Admin Services 3% Fire 16% General Accounts 5% Transfers 2% HR 1% IT 2% Public Works 9% Judicial 1% Legal 2% Mosquito 1% Parks & Rec 5% Police 22% Note: Governmental fund statements do not include depreciation expense. Capital purchases and debt principal payments are reported as period expenditures. Expenditures as reported on the FY CAFR total $27,682,590 and transfers out total $3,026,132. GENERAL FUND EXPENDITURES FY2014 FY (In Thousands) General Fund Expenditures Expenditure Description: 2014 Executive Office $536 $642 $655 $690 $681 Judicial 316 320 370 347 302 Legal 442 515 517 476 480 General Government 1,272 1,243 1,717 1,658 1,185 Clerk/Council 369 407 478 490 423 Police 6,479 6,605 7,252 7,297 6,814 Fire/EMS 5,240 5,326 5,509 5,685 5,397 Parks & Recreation 1,465 1,591 1,792 1,823 1,664 Mosquito Control 339 321 335 361 343 Cemetery 261 350 383 292 217 CD Planning/Eng/Code 1,422 1,458 1,586 2,487 1,741 PW Street/Fleet 2,523 2,755 3,118 3,157 2,822 Administrative Services 841 907 942 1,097 977 Human Resources 359 412 478 442 368 Information Tech 534 621 651 630 596 Facilities 331 331 392 396 351 Animal Control 398 438 429 451 447 Subtotal Operating 23,127 24,242 26,604 27,779 24,808 Capital & Equipment 3,111 1,697 5,989 7,824 2,605 Fund Transfers: 4,494 3,521 733 2,146 3,026 Debt : Principal & Interest 111 10,166 296 773 269 Total Expenditures $30,843 $39,626 $33,622 $38,522 $30,708 Depreciation $4,124 $4,183 $4,218 (1) Approximately $4.5M in capital projects and other 1x funds were rebudgeted in FY. Funds remaining on capital projects will be rebudgeted in FY 2017. (2) Capital, equipment and debt expenditures comprise 19% of the FY General Fund budget. (3) The FY budget for transfers was $2,146, and actual balance totaled $3,026. Variance is due to transfers of completed capital assets between funds. (4) The public safety function constituted about 38% of the FY budget. (5) Personnel costs were about 54% of the FY16 budget. Administrative costs were about 12% of the FY 16 budget, excluding general accounts. GENERL FUND EXPENDITURE REPORT 7
Millions GENERAL FUND FUND BALANCE DETAIL YEAR END $40 $30 $20 $10 $- Unassigned Fund Balance 2014 GENERAL FUND RESERVE DAYS OF OPERATIONS General Fund Expenditures General Fund Fund Balance Sheet FY Unassigned Fund Balance FY16 $ 10,504,911 General Fund Expenditures FY16 $27,682,590* Days of Operation Reserves Note: Balances are a point in time and can change based on activity. *Expenditures exclude transfers for this calculation 139 Days 4.6 Months DESCRIPTION OF TYPE OF FUND BALANCE AND PROJECTED AVAILABILITY Nonspendable Restricted & Committed: Contracts - Capital projects, operations Debt Payments Grant matches Assigned Net Assets 60 day versus GASB Vac/Comp Accrual Contingency Operations & Council Const. Economic Conditions Capital and Operating Encumbrances - Rebudgets Cash Requirement for Funding Biennium (FY 17-18) Unassigned Net Assets (Available) $ 0.03 M $ 1.68 M $ 1.15 M $ 0.29 M $ 0.24 M $ 6.11 M $ 1.22 M $ 0.41 M $ 1.15 M $ 1.75 M $ 1.58 M $ 10.50 M GENERAL FUND - FUND STATEMENT BALANCE SHEET YEAR END FY CITY OF LARAMIE GENERAL (In Thousands) Modified Balance Sheet Fund Basis ASSETS: YEAR END BALANCES Cash $11,729 Investments 6,067 Prepaid 34 Receivables: Accounts, Customers 44 Operating/Acc Interest/Grants 3,729 Restricted Assets: Cash & Investments 47 Total Assets $21,650 LIABILITIES: Accounts Payable/Acc Interest $1,163 Unearned Revenue 1,859 Accrued Vacation/Comp. 0 Total Liabilities $3,022 Deferred Inflows of Resources $302 FUND BALANCE: Nonspendable $34 Restricted 529 Committed 1,151 Assigned 6,107 Unassigned 10,505 Total Fund Balance $18,326 (1) This balance sheet is prepared to reflect current financial resources and agrees with the CAFR report. This approach does not include capital assets or long-term liabilities in order to measure currently available financial resources. Governmental Wide statements include all assets and liabilities. NOTE: The CAFR notes describe the type of available funding as follows: Nonspendable - must remain intact; Restricted balance has restricted use limits imposed by grantors, creditors, or laws; Committed Self-imposed limitations formal actions set; Assigned Fund balances with assigned intended use; Unassigned portion of fund balance that is residual after other categories. GENERAL FUND FUND STATEMENT BALANCE SHEET 8
RECREATION CENTER SPECIAL REVENUE FUND 9
RECREATION CENTER - TRENDS ON FINANCIAL SUMMARIES $2,000 $1,000 $- * Thousands FY 2014 FY FY FY Revenues Expenses Assigned Fund Balance FISCAL YEAR REVENUE PERCENT BY CATEGORY <1% 16% 83% RECREATION CENTER - MEMBERSHIPS 3,500 3,000 2,500 2,000 1,500 1,000 500 - Charges for Services Intergovernmental Misc Income 2014 Memberships Memberships Memberships RECREATION CENTER FINANCIAL FUND SUMMARY FY 2014 FY Fiscal Year REVENUE (In Thousands) FY 2014 FY FY FY FY Charges for Services: $1,137 $1,067 $1,052 $996 $1,152 Intergovernmental 238 229 231 196 190 Other Misc. 10 20 7 12 13 TOTAL REVENUE: $1,385 $1,316 $1,290 $1,204 $1,355 EXPENDITURES: Personnel $1,088 $1,068 $1,147 $1,208 $1,156 Contractual 367 361 417 412 355 Material & Supplies 181 150 158 167 158 Capital & Equipment 50 46 53 49 45 Debt Service 29 29 29 29 29 TOTAL EXPENSE: $1,715 $1,654 $1,804 $1,865 $1,743 FUND BALANCE & MISC STATISTICS: Sources of funds: Transfers $263 $521 $521 $526 $526 Net Change Fund Balance ($67) $183 ($6) ($135) $138 Net Fund Balance (Assigned) $565 $725 $871 Memberships 3,159 3,125 3,044 Average Daily Visits 516 506 579 % of Cost Recovery 81% 79% 72% 65% 78% (1) Fund balance includes 3 months of reserve for operating & capital. The fund balance reported above is only assigned fund balance and does not include the nonspendable Recreation Endowment (FY16 total $2.6M) and any restricted contracts. (2) The Recreation Center has a high cost recovery rate. The rate is determined by dividing total revenue, not including support transfers, by total expense. (3) The General Fund transfers funds as required to provide a three months cash reserve and to fund any projected shortfall between budgeted revenue and expenditures. (4) Recreation Center annual memberships increased from FY15 to FY16 by 47. However, overall memberships decreased by 81. (5) See FY CAFR for additional financial information. RECREATION CENTER ANNUAL FINANCIALS 10
ENTERPRISE FUNDS: UTILITIES (WATER & WASTEWATER) AND SOLID WAS TE 11
ENTERPRISE FUND Organization Structure SOLID WASTE COLLECTION DIVERSION DISPOSAL Biosolids WW Treat Plant CITIZENS OF LARAMIE CITY COUNCIL City Manager WASTEWATER PUBLIC WORKS Collection Summary Lift Station Pre Treat UTILITIES Water Rights Meters WT Treat Plant WATER Trans & Delivery Monolith Ranch The Enterprise Funds in the City of Laramie provide services by charging the cost of these services back to the user, similar to a private business. The City has two funds that are Enterprise funds. The Utility Fund is comprised of Water and Waste Water services. The Solid Waste Fund is for Collection, Recycling, Disposal and Landfill operations. The majority of revenues are collected by the City through Utility Billing. Other revenues include grant income and the 6 th cent Specific Purpose Tax, passed in 2010 by the voters, to assist with funding of long-term infrastructure pipeline for Water and Sewer and construction of a land fill liner and building for scale operation at the landfill. Pumps & Wells CITY ATTORNEY ENTERPRISE FUND ORGANIZATION STRUCTURE 12
WATER FUND TRENDS ON FINANCIAL SUMMARY (In Thousands) $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- * Thousands WATER FUND REVENUE BY TYPE 2014 Intergovernmental Charges for Services Miscellaneous WATER FUND EXPENDITURES BY TYPE 45% 14% 8% 4% 3% 9% 7% 10% Administration Pump & Wells Filter Treatment Trans & Delivery Meters Monolith/WT Rights Debt Capital RESIDENTIAL IN CITY WATER RATES BY TIER (1,000 GAL. USAGE) ¾-inch meter $10.00 $8.50 $7.00 $5.50 $4.00 $2.50 $1.00 2014 First 3 Units Next 3 Units Next 18 Units Over 24 Units Note: CAFR financials report total expenses (operating expenses, interest expense, and transfers out) at $5.9M. This modified report totals expenses at $7.1M. The $1.2M difference arises from the exclusion of depreciation expense (+$2.6M in the CAFR), the inclusion of capitalized expenditures (-$3M in the CAFR), and the inclusion of debt principal payments (-$0.8M). WATER FUND - FINANCIAL SUMMARY FY 2014 FY (In Thousands) Fiscal Year Revenue Description: 2014 Intergovernmental $1,815 $2,136 $14,517 $3,818 $213 Charges for Services: Water Charges 8,229 8,156 8,600 8,500 8,530 Plant Investment 255 359 300 300 325 Other 94 110 94 103 79 Subtotal Charges for services: 8,578 8,625 8,994 8,903 9,147 Monolith Ranch 105 71 90 90 59 Miscellaneous Revenue 133 53 11 28 134 Total Revenue excl. Tfrs $10,631 $10,885 $23,612 $12,839 $9,340 Expenditures Description: Administration $484 $801 $896 $748 $553 Pumps & Wells 338 292 350 443 312 Filter Treatment Plant 691 737 883 802 670 Transmission & Delivery 746 851 991 1,029 687 Meters 683 673 902 921 521 Monolith Ranch 39 57 98 189 28 Water Rights 59 124 204 205 148 Subtotal Operating: 3,040 3,535 4,324 4,337 2,919 Capital & Equipment 4,219 4,513 21,176 15,888 3,195 Debt Service 790 881 1,193 1,291 974 Capital Transfers 574 - - - - Total Expense $8,623 $8,929 $26,693 $21,516 $7,088 Depreciation (memo) $2,361 $2,518 $2,655 $3,334 $2,637 (1) Major Capital projects during FY include the Clearwell Storage & Clarifier upgrade, PRV stations, and completion of the Indian Hills Pump Station, as well as continuation of the Ivinson Street Water Line Replacement and commencement of the North Side Tank project. (2) Note: Capital & Debt (Chart 2) comprise 59% of total expenditures. WATER FUND ANNUAL REPORT 13
Millions WATER FUND MODIFIED FUND BALANCE DETAIL YEAR END $10.0 $8.0 $6.0 $4.0 $2.0 $- WATER FUND RESERVE DAYS OF OPERATIONS Water Fund Modified Trial Balance Unassigned Fund Balance FY16 $ 2,620 Water Fund Expenditure FY16 $ 7,088 Days of Operation Reserves Note: Balances are a point in time and can Change based on activity. Restricted & Committed Net Assets: Contracts Capital Projects (committed) Debt service reserve revenue bonds (restricted) Water maintenance reserve (restricted) Match on state project (restricted) Assigned Net Assets Unassigned Fund Balance Contingency Operations Debt Reserve Non bonded (20%) Capital Projects rebudgeted & not contracted Cash Requirement for funding FY17 Rate built up for future infrastructure improvements Unassigned Net Assets (Available) Water Fund Expenditures FY (thousands) 135 Days 4.44 Months $ 2.71 M $ 1.63 M $ 0.40 M $ 0.38 M $ 0.30 M $ 22.84 M $ 0.50 M $ 0.87 M $14.56 M $ 1.91 M $ 5.00 M $ 2.62 M DESCRIPTION OF TYPE OF NET ASSETS AND PROJECTED AVAILABILITY WATER FUND - MODIFIED BALANCE SHEET YEAR END FY CITY OF LARAMIE WATER Modified Balance Sheet Fund Basis ASSETS: YEAR END BALANCES Cash $25,567 Investments 2,527 Receivables: Accounts, Customers 668 Operating/Acc Interest/Grants 20 Restricted Assets: Cash & Investments 887 Total Assets $29,669 LIABILITIES: Accounts Payable/Acc Interest $883 Accrued Vacation/Comp. 121 Current Debt: Bonds/Notes Payable 384 Total Liabilities $1,388 DEFERRED INFLOWS OF RESOURCES $109 NET ASSETS: (In Thousands) Restricted $1,078 Committed 1,634 Assigned 22,840 Unassigned 2,620 Total Net Assets $28,172 (1) The balance sheet presented shows an approximation of currently available financial resources. It does not include capital assets, deferred amounts related to pensions, or long-term liabilities in order to measure currently available financial resources. NOTE: The CAFR does not report Enterprise funds on this basis, which leaves a high net asset total due to the inclusion of capital assets. Also accounting standards for Enterprise Funds only support reporting very limited restrictions (restricted cash and restrictions on net assets narrower than the purpose of the fund). The presentation above reports net assets using the same categories and measurement approach as governmental fund balances. Unassigned net assets are available to spend. (2) Enterprise Funds are managed using a 10 year financial plan. This plan considers cash flows, based on projected inflows and outflows for operating and capital requirements over the 10 year period, in order to avoid dramatic rate adjustments. WATER FUND ANNUAL MODIFIED BALANCE SHEET 14
WASTEWATER FUND TRENDS ON FINANCIAL SUMMARY $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- * Thousands WASTEWATER FUND REVENUE BY TYPE 2014 Intergovernmental Charges for Services Miscellaneous WASTEWATER FUND EXPENDITURES BY TYPE 1% >1% 11% 6% <1% 11% 11% 60% Administration Collection Treatment Plant Biosolids Industrial Pretreat Lift Station Debt Capital RESIDENTIAL SEWER PER MONTH BASE FEE AND AVG SEWER (3/4 meter) Rate $ $13.00 $11.50 $10.00 $8.50 $7.00 $5.50 $4.00 $2.50 $1.00 Monthly Base 2014 Per Unit Fee WASTEWATER FUND - FINANCIAL SUMMARY FY 2014 FY Fiscal Year (In Thousands) Revenue Description: 2014 Intergovernmental $186 $1,338 $6,233 $7,234 $1,992 Charges for Services: Waste Water Charges 4,989 5,023 5,200 5,100 5,095 Plant Investment 208 279 300 250 280 Other 71 66 72 72 64 Subtotal Charges for Services: 5,454 5,368 5,572 5,422 7,431 Miscellaneous Revenue 155 43 36 81 143 Total Revenue excl. Tfrs $5,609 $6,749 $11,841 $12,737 $7,574 Expenditures Description: Administration $649 $1,598 $1,584 $836 $752 Collection 356 373 490 610 446 Treatment Plant 886 947 1,031 936 881 Biosolids 9 12 70 70 16 Industrial Pretreatment 99 96 107 111 102 Lift Station 25 33 41 42 26 Subtotal Operating: 2,024 3,059 3,323 2,605 2,223 Capital & Equipment 1,252 2,487 10,842 15,240 4,859 Debt Services 975 951 1,110 1,126 924 Total Expense $4,251 $6,497 $15,275 $18,971 $8,006 Depreciation (memo) 1,094 $1,141 $1,293 $1,502 $1,178 (1) Major Capital projects in FY include the South Laramie Sewer Extension, Duna Drive Sanitary Sewer Replacement, and C-Line Replacement from Hancock to Canby, as well as several major maintenance items at the Treatment Plant. (2) Note: Capital & Debt (Chart 2) comprise 53% of total expenditures. WASTE WATER FUND ANNUAL REPORT Note: CAFR financials report total expenses (operating expenses, interest expense, and transfers out) at $4M. This modified report reports total expense at $8M. The $4.0M difference arises from the exclusion of depreciation expense (+$1.2M in the CAFR), the inclusion of capitalized expenditures (-$4.4M in the CAFR), and the inclusion of debt principal payments (-$0.8M) on this report. 15
Millions WASTEWATER FUND MODIFIED FUND BALANCE DETAIL YEAR END $10.0 $8.0 $6.0 $4.0 $2.0 $- WASTEWATER FUND RESERVE DAYS OF OPERATIONS Waste Water Fund Modified Trial Balance Unassigned Fund Balance FY16 $ 1,533 Waste Water Fund Expenditures FY16 $ 8,006 Days of Operation Reserves Note: Balances are a point in time and can Change based on activity. Restricted & Committed Net Assets Contracted amounts Capital (Committed) Debt Service Reserve (Restricted) Assigned Net Assets Unassigned Net Assets Contingency Operations Debt reserve 20% (Current & Future) Cash Requirement for Funding FY17 Capital Projects rebudgeted & not contracted Unassigned Net Assets (Available) Waste Water Fund Expenditures FY (thousands) 70 Days 2.35 Months DESCRIPTION OF TYPE OF NET ASSETS AND PROJECTED AVAILABILITY $ 1.76 M $ 1.61 M $ 0.15 M $ 10.68 M $ 0.50 M $ 0.64 M $ 2.00 M $ 7.54 M $ 1.53 M WASTEWATER FUND - MODIFIED BALANCE SHEET YEAR END FY CITY OF LARAMIE WASTE WATER Modified Balance Sheet Fund Basis ASSETS: YEAR END BALANCES Cash $11,250 Investments 3,610 Receivables: Accounts, Customers 411 Operating/Acc Interest/Grants 480 Restricted Assets: Investments 151 Total Assets $15,902 LIABILITIES: Accounts Payable/Acc Interest $950 Accrued Vacation/Comp. 48 Current Debt: Bonds/Notes Payable 934 Total Liabilities $1,932 NET ASSETS: (In Thousands) Restricted $ 151 Committed 1,612 Assigned 10,674 Unassigned 1,533 Total Net Assets $13,970 (1) The balance sheet presented shows an approximation of currently available financial resources. It does not include capital assets, deferred amounts related to pensions, or long-term liabilities in order to measure currently available financial resources. NOTE: The CAFR does not report Enterprise funds on this basis, which leaves a high net asset total due to the inclusion of capital assets. Also accounting standards for Enterprise Funds only support reporting very limited restrictions (restricted cash and restrictions on net assets narrower than the purpose of the fund). The presentation above reports net assets using the same categories and measurement approach as governmental fund balances. Unassigned net assets are available to spend. (2) Enterprise Funds are managed using a 10 year financial plan. This plan considers cash flows, based on projected inflows and outflows for operating and capital requirements over the 10 year period, in order to avoid dramatic rate adjustments. WASTE WATER FUND ANNUAL MODIFIED BALANCE SHEET 16
SOLID WASTE TRENDS ON FINANCIAL SUMMARY (In Thousands) $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $- * Thousands SOLID WASTE FUND REVENUE BY TYPE 2014 Intergovernmental Charges for Services Miscellaneous SOLID WASTE FUND EXPENDITURES BY TYPE 14% 19% 10% 3% 5% 27% 22% Administration Collection Disposal Recycling/Diversion Capital & Equip Debt RESIDENTIAL SOLID WASTE FEES (Per Kitchen Unit) Rate $ $10.00 $8.50 $7.00 $5.50 $4.00 $2.50 $1.00 2014 Landfill Closure Collection Disposal Recycling SOLID WASTE FUND - FINANCIAL SUMMARY FY 2014 FY Fiscal Year Revenue Description: 2014 Intergovernmental $2,452 $34 $112 $107 $35 Charges for Services: Collection 1,062 1,076 1,025 1,065 1,090 Recycling/diversion 430 454 414 428 472 Disposal Fee 765 805 771 793 812 Landfill Dump Fee 1,358 1,279 1,200 1,250 1,501 Subtotal Charges for Services: 3,615 3,614 3,410 3,536 3,910 Miscellaneous Revenue 33 182 926 412 258 Total Revenue $6,100 $3,830 $4,448 $4,055 $4,168 Expenditures Description: (In Thousands) Administration $172 $173 $193 $202 $176 Collection 832 817 878 884 799 Disposal 833 973 1,129 1,119 995 Recycling/Diversion 150 136 154 159 117 Subtotal Operating: 1,987 2,099 2,354 2,364 2,087 Capital & Equipment 3,427 770 1,305 521 397 Landfill Closure Costs 127 913 47 47 730 Debt Service 235 361 571 678 536 Total Expense $5,776 $4,143 $4,277 $3,610 $3,750 Depreciation (memo) $793 $1,077 $813 $1,173 $1,143 (1) In FY12, the City implemented curbside recycling. (2) The $35K of Intergovernmental Revenue was grant revenue for improvements and cleanup at the landfill. (3) Note: Capital & Debt (Chart 2) comprise 24% of total expenditures. SOLID WASTE FUND ANNUAL REPORT Note: CAFR financials report total expenses (operating expenses, interest expense, and transfers out) at $4M. This modified report reports total expense at $3.8M. The $0.2M difference arises from the exclusion of depreciation expense (+$1.1M in the CAFR), the inclusion of capitalized expenditures (-$0.4M in the CAFR), and the inclusion of debt principal payments (-$0.5M) on this report. 17
SOLID WASTE FUND RESERVE DAYS OF OPERATIONS YEAR END $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 *Thousands Unassigned Net Assets SOLID WASTE FUND RESERVE DAYS OF OPERATIONS SOLID WASTE FUND Modified Trial Balance Unassigned Fund Balance FY15 $ 1,126 Adj. Solid Waste Fund Expend FY 15 $ 3,750 Days of Operation Reserves Note: Balances are a point in time and can Change based on activity. Restricted & Committed Net Assets: Capital Contracts (Committed) Assigned Net Assets Contingency Operations & fund balance Debt Reserve (20%) Current & Future Landfill Liner Capital Reserve Funded portion of landfill closure costs Capital project encumbrances (rebudget) Solid Waste Expenditures FY (thousands) 110 Days 3.65 Months DESCRIPTION OF TYPE OF NET ASSETS & PROJECTED AVAILABILITY $ 0.05 M $ 0.05 M $ 6.15 M $ 0.40 M $ 0.21 M $ 3.00 M $ 2.30 M $ 0.24 M Unassigned Net Assets (Available) $ 1.13M SOLID WASTE FUND - MODIFIED BALANCE SHEET YEAR END FY CITY OF LARAMIE SOLID WASTE Modified Balance Sheet Fund Basis ASSETS: YEAR END BALANCES Cash $6,646 Investments 868 Receivables: Accounts, Customers 458 Operating/Acc Interest/Grants 1 Total Assets $7,973 LIABILITIES: Accounts Payable/Acc Interest $109 Unearned Revenue 1 Accrued Vacation/Comp. 66 Current Debt: Bonds/Notes Payable 465 Total Liabilities $641 NET ASSETS: (In Thousands) Restricted $ - Committed 54 Assigned 6,152 Unassigned 1,126 Total Net Assets $7,332 (1) The balance sheet presented shows an approximation of currently available financial resources. It does not include capital assets, deferred amounts related to pensions, or long-term liabilities in order to measure currently available financial resources. NOTE: The CAFR does not report Enterprise funds on this basis, which leaves a high net asset total due to the inclusion of capital assets. Also accounting standards for Enterprise Funds only support reporting very limited restrictions (restricted cash and restrictions on net assets narrower than the purpose of the fund). The presentation above reports net assets using the same categories and measurement approach as governmental fund balances. Unassigned net assets are available to spend. (2) Rate increases have been adopted in order to fund a capital reserve for future liner construction. It is estimated that the next liner will begin construction in 2 years (2018) with an approx. cost of $3M, so funds are being set aside for funding. More funding may be needed from rates to offset landfill liner requirements. (3) The total long-term liability to date for landfill closure and postclosure costs is $3.6M. The funded portion of this liability is noted in assigned net assets. SOLID WASTE ANNUAL MODIFIED BALANCE SHEET 18