FINANCE COMMITTEE MINUTES SEPTEMBER 19, 2017 The Finance Committee meeting was held on September 19, 2017 at North Royalton City Hall, 14600 State Road. The meeting was called to order at 6:00 p.m. PRESENT: Committee Members: Chairman Larry Antoskiewicz, Vice Chair Gary Petrusky, Paul Marnecheck; Council: John Nickell, Dan Langshaw, Cheryl Hannan, Dan Kasaris; Administration: Mayor Robert Stefanik, Law Director Thomas Kelly, Finance Director Eric Dean, Police Chief Ken Bilinovich, Safety Director Bruce Campbell; Other: Lou Krzepina. APPROVAL OF MINUTES Moved by Mr. Antoskiewicz, seconded by Mr. Petrusky to approve the July 18, 2017 Finance Committee minutes. Yeas: 3. Nays: 0. Motion carried. UNFINISHED BUSINESS 1. Monthly Finance report including tax collections status Mr. Dean reviewed these reports, copies of which are attached to these minutes. Mr. Antoskiewicz asked if the fact that we are down this month on the individual tax is due to the timing issue we have been experiencing since last year and is it consistent with what we have been receiving. Mr. Dean said we have been down on individual taxes all year and that seems to be the trend. Next month may be a better month for individual taxes. Mr. Langshaw asked if Mr. Dean was concerned that we are down 3.9% in individual income tax. Mr. Dean said that he is not concerned. We are down in individual income tax but overall we are up in other areas. 2. Overtime Mr. Dean reviewed the report, a copy of which is attached to these minutes. Mr. Dean said that we are right on target with the budget for this year. NEW BUSINESS None ADJOURNMENT Moved by Mr. Marnecheck, seconded by Mr. Petrusky to adjourn the Finance Committee meeting. Yeas: 3. Nays: 0. Motion carried. Finance Committee meeting adjourned at 6:05 p.m.
CITY OF NORTH ROYALTON Monday, July 31, 2017 CASH ON DEPOSIT Institution Account Description Reconciled Balance Fifth Third Bank Operating 8,156,254.86 Fifth Third Bank Payroll 94,009.07 Cash on Hand Petty Cash 5,050.00 Total Operating Cash 8,255,313.93 Fifth Third Bank Investment account 5,750,000.00 Star Ohio Investment account 1,771,680.52 Total Investments Total Cash and Investements 7,521,680.52 15,776,994.45
M M Total Monthly Fund Balance -All Fund Types 15.78 14.11 13.88 14.03 13.67 15.55 14.69 15.25 14.15 15.78 15.52 16.86 16.86 16.21 13.99 12.87 12.90 12.42 10.79 - - - - - JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER Total Funds 2017 Total Funds - 2016 12.00 City of North Royalton - Year End Fund Balance by Type Current Fund Balance by type 10.00 11.26 8.00 7,187,462 7.10 6.00 4.00 4.46 6.52 5.93 5.64 5.43 5.40 6.44 5.20 5.60 4.15 4.13 3.60 3,822,989 4,200,279 2.00 2.78 2.68 1.68 - (0.11) (0.84) (0.57) 2010 2011 2012 2013 2014 2015 2016 0.53 (2.00) Total Governmental Funds Balance Total Wastewater Funds Balance Total Capital Improvement Funds Balance 8/17/2017 C:\Users\edean\Desktop\August Finance Report 2017
CURRENT MONTHLY RECEIPTS City of North Royalton City Income Tax Collections 8/17/2017 Net Receipts received in collections for the month of July-2017 / August-2017 1,120,476.24 YEAR TO DATE RECEIPTS Net Receipts Fiscal Year 2017 Fiscal Year 2016 Increase (Decrease) 10,733,886.40 10,398,560.52 335,325.88 COLLECTION DETAIL This Year Prior Year August-2017 August-2016 Difference % WITHHOLDING 636,627.33 606,935.17 29,692.16 4.89% INDIVIDUAL TAXES 473,144.23 507,194.11 (34,049.88) -7% NET PROFIT TAXES 49,431.65 48,006.96 1,424.69 3% TOTAL GROSS RECEIPTS 1,159,203.21 1,162,136.24 (2,933.03) 0% 3% withholding for collection fees (34,776.10) (34,864.09) 87.99 0% legal fees/court costs (3,950.87) (1,646.33) (2,304.54) 140% TOTAL LEGAL FEES AND COLLECTION COSTS (38,726.97) (36,510.42) (2,216.55) 6% TOTAL NET RECEIPTS 1,120,476.24 1,125,625.82 (5,149.58) 0%
Net Collections Year to Date Income Tax 10733886.4 10398560.52 9975525.66 9570895.99 9464594.58 8676948.38 8072849.18 8217775.92 8144712.42 7562153.45 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
CITY OF NORTH ROYALTON Income Tax Receipts Summary #101 - General Fund #211 SCMR Fund Month Received Original Tax Additional Tax #101 - General #207 Police Faclilty Additional Tax #211 - SCMR #219 Office on Aging #213 - Income Tax #443 - Storm Water Refunds Overhead & Legal Fees Net Receips 2017 January 913,255.01 167,494.28 1,080,749.29 16,666.67 167,494.28 167,494.28 14,583.33 56,982.26 83,747.14 (6,377.22) (45,405.77) 1,368,439.98 February 613,248.70 181,032.16 794,280.86 16,666.67 181,032.16 181,032.16 14,583.33 38,497.99 90,516.08 (3,852.86) (37,510.67) 1,094,213.56 March 494,526.68 120,268.36 614,795.04 16,666.67 120,268.36 120,268.36 14,583.33 31,121.48 60,134.18 (9,242.41) (28,964.46) 819,362.19 April 816,414.19 178,713.64 995,127.83 16,666.67 178,713.64 178,713.64 14,583.33 47,417.81 89,356.82 (38,348.58) (66,436.60) 1,237,080.92 May 1,409,089.03 296,186.40 1,705,275.43 16,666.67 236,949.12 236,949.12 14,583.33 83,281.51 59,237.28 (71,766.85) (63,828.56) 1,980,397.93 June 1,042,026.76 338,696.30 1,380,723.06 16,666.67 225,797.53 225,797.53 14,583.33 63,092.10 - (32,695.45) (52,138.48) 1,616,028.76 July 1,010,492.21 288,452.53 1,298,944.74 16,666.67 192,301.68 192,301.68 14,583.33 61,027.96 - (33,227.01) (52,410.55) 1,497,886.82 August 700,837.88 249,405.70 950,243.58 16,666.67 166,270.46 166,270.46 14,583.33 42,288.00 - (30,848.83) (38,726.97) 1,120,476.24 September - - - October - - - November - - - December - Total 6,999,890.46 1,820,249.37 8,820,139.83 133,333.36 1,468,827.23 1,468,827.23 116,666.64 423,709.11 382,991.50 (226,359.21) (385,422.06) 10,733,886.40 NOTES: # Original Fiscal Budget 11,405,000.00 200,000.00 2,000,000.00 175,000.00 720,000.00 650,000.00 (300,000.00) (450,000.00) 14,400,000.00 77% 67% 73% 67% 59% 59% 75% 86% 75% Shaded colums reflect the additional tax. 2016 #101 - General Fund #211 SCMR Fund Month Received Original Tax Additional Tax #101 - General #207 Police Faclilty Additional Tax #211 - SCMR #219 Office on Aging #213 - Income Tax January 687,657.65 152,378.14 840,035.79 16,666.67 152,378.14 152,378.14 14,583.33 42,907.02 76,189.07 (10,779.75) (35,917.84) 1,096,062.43 February 810,749.12 176,274.28 987,023.40 16,666.67 176,274.28 176,274.28 14,583.33 50,452.36 88,137.14 (11,193.15) (40,385.69) 1,281,558.34 March 654,861.33 136,232.02 791,093.35 16,666.67 136,232.02 136,232.02 14,583.33 40,701.21 68,116.01 (13,894.77) (34,564.19) 1,018,933.63 April 789,937.21 167,169.20 957,106.41 16,666.67 167,169.20 167,169.20 14,583.33 47,769.13 83,584.60 (33,025.34) (39,778.76) 1,214,075.24 May 1,298,312.42 196,327.76 1,494,640.18 16,666.67 196,327.76 196,327.76 14,583.33 78,491.61 98,163.88 (43,108.70) (56,751.76) 1,799,012.97 June 967,541.94 169,020.08 1,136,562.02 16,666.67 169,020.08 169,020.08 14,583.33 56,805.65 84,510.04 (63,355.28) (45,481.48) 1,369,311.03 July 752,312.62 297,720.93 1,050,033.55 16,666.67 297,720.93 297,720.93 14,583.33 44,980.72 148,860.47 (28,093.26) (50,771.35) 1,493,981.06 August 716,967.13 158,135.01 875,102.14 16,666.67 158,135.01 158,135.01 14,583.33 43,817.30 79,067.50 (25,235.71) (36,510.42) 1,125,625.82 September 685,389.31 219,089.77 904,479.08 16,666.67 146,059.84 146,059.84 14,583.33 42,619.05 - (14,076.58) (34,864.21) 1,075,467.18 October 815,294.39 156,765.47 972,059.86 16,666.67 211,995.60 211,995.60 14,583.33 51,128.56 - (3,737.33) (41,792.91) 1,220,903.78 November 615,043.19 202,695.42 817,738.61 16,666.67 210,522.39 210,522.39 14,583.33 38,363.65 - (11,470.16) (33,792.53) 1,052,611.96 December 528,699.07 311,769.28 840,468.35 16,666.67 - - 14,583.33 33,143.14 (12,507.19) (28,199.38) 864,154.92 Total 9,322,765.38 2,343,577.36 11,666,342.74 200,000.04 2,021,835.25 2,021,835.25 174,999.96 571,179.40 726,628.71 (270,477.22) (478,810.52) 14,611,698.36 #443 - Storm Water Refunds Overhead & Legal Fees Net Receips NOTES: Original Fiscal Budget 11,475,000.00 200,000.00 1,840,000.00 175,000.00 700,000.00 630,000.00 (300,000.00) (450,000.00) 14,270,000.00 102% 100% 110% 100% 82% 115% 90% 106% 102% Shaded colums reflect the additional tax. Month-to-Date Revenues as Percentage of Total Annual Budget 17%
CITY OF NORTH ROYALTON Summary of Overtime Budgets 2017 Fiscal Year As of 8/5/2017 Fund Department 2017 Budget 2017 Actual General Fund Police Department 150,000 128,982 General Fund Animal Control 2,000 979 General Fund Fire Department 5,000 1,385 General Fund Dispatch 6,500 2,136 General Fund Cemetery - - General Fund Parks & Recreation 15,000 12,241 General Fund Building Department 1,000 977 General Fund Mayor's Office 2,000 530 General Fund Finance Department 2,000 742 General Fund Engineering 100 - General Fund Legislative Activity 1,000 72 General Fund Mayor's Court 5,000 2,512 Police Facility Operating Jail 23,000 23,358 EMS Fund Fire Department 400,000 194,943 SCMR Storms Sewer and Drainage 10,000 4,154 SCMR Streets 20,000 9,706 SCMR Snow removal 35,000 6,591 Office on Aging Senior Assistance 10,000 4,017 Community Diversion Police Department 5,000 - Waste Water Treatment 85,000 40,351 Waste Water Maintenance 35,000 17,321 Current Date Represents This Percentage of the Year 62% 812,600 450,998 49%
CITY OF NORTH ROYALTON Thursday, August 31, 2017 CASH ON DEPOSIT Institution Account Description Reconciled Balance Fifth Third Bank Operating 9,086,232.80 Fifth Third Bank Payroll 91,471.38 Cash on Hand Petty Cash 5,050.00 Total Operating Cash 9,182,754.18 Fifth Third Bank Investment account 5,750,000.00 Star Ohio Investment account 1,773,453.93 Total Investments Total Cash and Investements 7,523,453.93 16,706,208.11
M M Total Monthly Fund Balance -All Fund Types 16.71 14.11 13.88 14.03 13.67 15.55 14.69 15.25 14.15 15.78 15.52 16.71 16.86 16.86 16.21 13.99 12.87 12.90 12.42 10.79 - - - - JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER Total Funds 2017 Total Funds - 2016 12.00 City of North Royalton - Year End Fund Balance by Type Current Fund Balance by type 10.00 11.26 88.00 7,187,462 7.10 66.00 44.00 4.46 6.52 5.93 5.64 5.43 5.40 6.44 5.20 5.60 4.15 4.13 3.60 3,822,989 4,200,279 22.00 2.78 2.68 1.68 0 - (0.11) (0.84) (0.57) 2010 2010 2011 2012 2013 2014 2015 2016 0.53-2 (2.00) Total Governmental Funds Balance Total Wastewater Funds Balance Total Capital Improvement Funds Balance 9/18/2017 G:\EDean\Month End\2017\9. September\September Finance Report 2017
CURRENT MONTHLY RECEIPTS City of North Royalton City Income Tax Collections 9/18/2017 Net Receipts received in collections for the month of August-2017 / September-2017 946,780.04 YEAR TO DATE RECEIPTS Net Receipts Fiscal Year 2017 Fiscal Year 2016 Increase (Decrease) 11,680,666.45 11,474,027.70 206,638.75 COLLECTION DETAIL This Year Prior Year September-2017 September-2016 Difference % WITHHOLDING 549,429.59 546,309.86 3,119.73 0.57% INDIVIDUAL TAXES 408,485.46 537,050.77 (128,565.31) -24% NET PROFIT TAXES 23,227.68 26,970.76 (3,743.08) -14% TOTAL GROSS RECEIPTS 981,142.73 1,110,331.39 (129,188.66) -12% 3% withholding for collection fees (29,434.28) (33,309.94) 3,875.66-12% legal fees/court costs (4,928.41) (1,554.27) (3,374.14) 217% TOTAL LEGAL FEES AND COLLECTION COSTS (34,362.69) (34,864.21) 501.52-1% TOTAL NET RECEIPTS 946,780.04 1,075,467.18 (128,687.14) -11.97%
Net Collections Year to Date Income Tax 11680666.45 11474027.7 11095693.38 10490815.26 10477336.92 9421448.69 9096894.48 8832119.21 9432357.77 8309081.64 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
CITY OF NORTH ROYALTON Income Tax Receipts Summary #101 - General Fund #211 SCMR Fund Month Received Original Tax Additional Tax #101 - General #207 Police Faclilty Additional Tax #211 - SCMR #219 Office on Aging #213 - Income Tax #443 - Storm Water Refunds Overhead & Legal Fees Net Receips 2017 January 913,255.01 167,494.28 1,080,749.29 16,666.67 167,494.28 167,494.28 14,583.33 56,982.26 83,747.14 (6,377.22) (45,405.77) 1,368,439.98 February 613,248.70 181,032.16 794,280.86 16,666.67 181,032.16 181,032.16 14,583.33 38,497.99 90,516.08 (3,852.86) (37,510.67) 1,094,213.56 March 494,526.68 120,268.36 614,795.04 16,666.67 120,268.36 120,268.36 14,583.33 31,121.48 60,134.18 (9,242.41) (28,964.46) 819,362.19 April 816,414.19 178,713.64 995,127.83 16,666.67 178,713.64 178,713.64 14,583.33 47,417.81 89,356.82 (38,348.58) (66,436.60) 1,237,080.92 May 1,409,089.03 296,186.40 1,705,275.43 16,666.67 236,949.12 236,949.12 14,583.33 83,281.51 59,237.28 (71,766.85) (63,828.56) 1,980,397.93 June 1,042,026.76 338,696.30 1,380,723.06 16,666.67 225,797.53 225,797.53 14,583.33 63,092.10 - (32,695.45) (52,138.48) 1,616,028.76 July 1,010,492.21 288,452.53 1,298,944.74 16,666.67 192,301.68 192,301.68 14,583.33 61,027.96 - (33,227.01) (52,410.55) 1,497,886.82 August 700,837.88 249,405.70 950,243.58 16,666.67 166,270.46 166,270.46 14,583.33 42,288.00 - (30,848.83) (38,726.97) 1,120,476.24 September 564,137.20 184,420.64 748,557.84 16,666.67 147,536.51 147,536.51 14,583.33 34,676.33 36,884.13 (17,762.07) (34,362.69) 946,780.05 October - - - November - - - December - Total 7,564,027.66 2,004,670.01 9,568,697.67 150,000.03 1,616,363.74 1,616,363.74 131,249.97 458,385.44 419,875.63 (244,121.28) (419,784.75) 11,680,666.45 NOTES: # Original Fiscal Budget 11,405,000.00 200,000.00 2,000,000.00 175,000.00 720,000.00 650,000.00 (300,000.00) (450,000.00) 14,400,000.00 84% 75% 81% 75% 64% 65% 81% 93% 81% Shaded colums reflect the additional tax. 2016 #101 - General Fund #211 SCMR Fund Month Received Original Tax Additional Tax #101 - General #207 Police Faclilty Additional Tax #211 - SCMR #219 Office on Aging #213 - Income Tax January 687,657.65 152,378.14 840,035.79 16,666.67 152,378.14 152,378.14 14,583.33 42,907.02 76,189.07 (10,779.75) (35,917.84) 1,096,062.43 February 810,749.12 176,274.28 987,023.40 16,666.67 176,274.28 176,274.28 14,583.33 50,452.36 88,137.14 (11,193.15) (40,385.69) 1,281,558.34 March 654,861.33 136,232.02 791,093.35 16,666.67 136,232.02 136,232.02 14,583.33 40,701.21 68,116.01 (13,894.77) (34,564.19) 1,018,933.63 April 789,937.21 167,169.20 957,106.41 16,666.67 167,169.20 167,169.20 14,583.33 47,769.13 83,584.60 (33,025.34) (39,778.76) 1,214,075.24 May 1,298,312.42 196,327.76 1,494,640.18 16,666.67 196,327.76 196,327.76 14,583.33 78,491.61 98,163.88 (43,108.70) (56,751.76) 1,799,012.97 June 967,541.94 169,020.08 1,136,562.02 16,666.67 169,020.08 169,020.08 14,583.33 56,805.65 84,510.04 (63,355.28) (45,481.48) 1,369,311.03 July 752,312.62 297,720.93 1,050,033.55 16,666.67 297,720.93 297,720.93 14,583.33 44,980.72 148,860.47 (28,093.26) (50,771.35) 1,493,981.06 August 716,967.13 158,135.01 875,102.14 16,666.67 158,135.01 158,135.01 14,583.33 43,817.30 79,067.50 (25,235.71) (36,510.42) 1,125,625.82 September 685,389.31 219,089.77 904,479.08 16,666.67 146,059.84 146,059.84 14,583.33 42,619.05 - (14,076.58) (34,864.21) 1,075,467.18 October 815,294.39 156,765.47 972,059.86 16,666.67 211,995.60 211,995.60 14,583.33 51,128.56 - (3,737.33) (41,792.91) 1,220,903.78 November 615,043.19 202,695.42 817,738.61 16,666.67 210,522.39 210,522.39 14,583.33 38,363.65 - (11,470.16) (33,792.53) 1,052,611.96 December 528,699.07 311,769.28 840,468.35 16,666.67 - - 14,583.33 33,143.14 (12,507.19) (28,199.38) 864,154.92 Total 9,322,765.38 2,343,577.36 11,666,342.74 200,000.04 2,021,835.25 2,021,835.25 174,999.96 571,179.40 726,628.71 (270,477.22) (478,810.52) 14,611,698.36 #443 - Storm Water Refunds Overhead & Legal Fees Net Receips NOTES: Original Fiscal Budget 11,475,000.00 200,000.00 1,840,000.00 175,000.00 700,000.00 630,000.00 (300,000.00) (450,000.00) 14,270,000.00 102% 100% 110% 100% 82% 115% 90% 106% 102% Shaded colums reflect the additional tax. Month-to-Date Revenues as Percentage of Total Annual Budget 17%
CITY OF NORTH ROYALTON Summary of Overtime Budgets 2017 Fiscal Year As of 9/2/2017 Fund Department 2017 Budget 2017 Actual General Fund Police Department 170,000 157,476 General Fund Animal Control 2,000 1,341 General Fund Fire Department 5,000 1,840 General Fund Dispatch 6,500 2,950 General Fund Cemetery - - General Fund Parks & Recreation 15,500 15,444 General Fund Building Department 1,000 977 General Fund Mayor's Office 2,000 834 General Fund Finance Department 2,000 852 General Fund Engineering 100 - General Fund Legislative Activity 1,000 308 General Fund Mayor's Court 5,000 2,624 Police Facility Operating Jail 33,000 32,517 EMS Fund Fire Department 400,000 265,866 SCMR Storms Sewer and Drainage 10,000 4,154 SCMR Streets 20,000 10,246 SCMR Snow removal 35,000 6,591 Office on Aging Senior Assistance 10,000 4,710 Community Diversion Police Department 5,000 - Waste Water Treatment 85,000 45,494 Waste Water Maintenance 35,000 24,279 Current Date Represents This Percentage of the Year 69% 843,100 578,503 69%
Individual Income Tax Collections 1,400,000.00 1,287,684.74 1,200,000.00 1,000,000.00 800,000.00 805,763.27 859,679.11 914,399.18 2016 Collections- Larger payment in October due to new payment 600,000.00 581,539.93 473,144.23 408,485.46 400,000.00 200,000.00 314,844.81 316,976.27 2017 Individual Collections by Month - January February March April May June July August September October November December 2016 Individual Income Tax 533,841.48 581,433.97 513,321.80 597,461.16 1,216,226.16 786,565.49 932,497.73 507,194.11 537,050.77 722,878.65 383,407.29 366,600.98 2017 Individual Income Tax 805,763.27 314,844.81 316,976.27 581,539.93 1,287,684.74 859,679.11 914,399.18 473,144.23 408,485.46 2016 Individual Income Tax 2017 Individual Income Tax
% change in year to date receipts by month % change in year to date receipts by month 10.0% %YTD change in Withholding Income tax receipts 9.0% 8.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.5% 6.3% 5.0% 3.6% 6.1% 4.5% 4.5% 4.1% 4.1% 4.0% 4.1% 4.8% 3.0% 2.0% 2.1% 2.3% 2.6% 2.2% 2.3% 2.8% 2.6% 1.0% 0.0% 1 2 3 4 5 6 7 8 9 10 11 2016 Withholding 9.0% 6.3% 2.1% 2.3% 2.6% 4.0% 2.2% 4.1% 2.3% 2.8% 4.8% 2.6% 2017 Withholding 3.5% 8.0% 5.0% 3.6% 6.1% 4.1% 4.5% 4.5% 4.1% 60.0% 50.0% % YTD change in Individual Income tax receipts for 2017 50.9% 40.0% 30.0% 20.0% 12.7% 16.7% 13.3% 10.0% 0.0% -10.0% 0.5% -2.3% -0.6% -1.2% -2.1% -3.9% -11.7% -9.3% 3.9% 4.0% 3.9% -1.5% -1.6% -2.0% -3.9% 5.3% 3.0% -20.0% January Februar y March April May June July August Septem ber October Novemb er 2016 Individual 12.7% -2.3% -0.6% -1.2% -2.1% 3.9% 16.7% 4.0% 3.9% 13.3% 5.3% 3.0% 2017 Individual 50.9% 0.5% -11.7% -9.3% -3.9% -1.5% -1.6% -2.0% -3.9% Decemb er