Loading...
CC 3-5-19 Item #6 Mid-Year Report FY 2018-19 PresentationCC 03/05/2019 Item No. 6 1 March 5, 2019 FY 2018-19 Mid-Year Financial Report Budget Cycle CC 03/05/2019 Item No. 6 2 FY 2018-19 Amended Budget $186,481,507 FY 2018-19 Budget Adjustments Fund FY 18‐19  Adopted Carryovers Encumbrances Adjustments  Approved in 1st‐ 2nd Quarter FY 18‐19 Amended  Budget as of  December 31, 2018 General 77,639,720         9,486,150                        5,168,152 1,511,577                  93,805,599                     Special Revenue 13,689,297         15,827,938                      4,459,499 324,411                     34,301,145                     Debt Service 3,169,438            ‐                                                          ‐  ‐                                  3,169,438                       Capital Projects 17,868,000         11,202,852                      1,025,302 4,655,000                  34,751,154                     Enterprise 10,854,026         160,707                              135,974 27,864                       11,178,571                     Internal Service 8,498,378           500,204                               272,218 4,800                          9,275,600                         Total All Funds 131,718,859       37,177,851                    11,061,145 6,523,652                  186,481,507                   CC 03/05/2019 Item No. 6 3 FY 2018-19 Adjustments Approved in 1st -2nd Quarters Description CC Approved  Adjustments  07/31/18 ‐ 12/31/18 Interim and New City Hall Design $4,000,000 Apple Donation for Apple Park Law Enforcement $558,979 Regnart Creek Trail $380,000 CDBG Allocation $295,633 Don Burnett Bicycle‐Pedestrian Bridge Inspection and Maintenance $219,945 Performing Arts Center Feasibility Study $200,000 Don Burnett Bridget Fencing and Repair $130,000 All Other Adjustments $739,095 Total $6,523,652 Mid-Year Changes to General Fund Revenues Revenue – $2,715,000 Sales Tax $ 900,000 Property Tax $1,000,000 Charges for Services $ 815,000 CC 03/05/2019 Item No. 6 4 5 Year History – General Fund Revenues Sales Tax CC 03/05/2019 Item No. 6 5 Property Tax Transient Occupancy Tax CC 03/05/2019 Item No. 6 6 Charges for Services 5 Year History – General Fund Expenditures CC 03/05/2019 Item No. 6 7 General Fund - Fund Balance Fund Balance = (Estimated Revenue) - (Appropriations) +/- (Proposed Adjustments) + (Encumbrances) Actuals Year  End  Projection Adopted Budget 1st Quarter   Year  End  Projection Mid‐Year  End  Projection CLASSIFICATION 2016‐17 2017‐18 2018‐19 2018‐19 2018‐19 Non Spendable 0.88                      0.47                   0.47                   0.47                   0.46                    Restricted                       1.02                      1.25                      0.84                      1.25                      9.24  Committed 19.00                    23.92                 27.08                 27.08                 19.12                  Assigned                       4.64                      5.17                      7.93                      7.93                      7.59  Unassigned 28.06                    21.62                 8.89                   12.23                 5.84                    TOTAL FUND BALANCE 53.59 52.42 45.21 48.96 42.25 All Other Funds – Revenue Mid‐Year Mid‐Year  2018 2019 30 ‐ Other  taxes 386,066$                          423,241$                          37,175$          10% 40 ‐ Use of money and property 359,303                            499,622                            140,319          39% 45 ‐ Intergovernmental revenue 952,187                            1,336,028                         383,841          40% 50 ‐ Charges for  services 5,862,292                         5,485,478                         (376,815)          ‐6% 55 ‐ Fines  and forfeitures 4,289                                 2,767                                 (1,522)              ‐35% 60 ‐ Miscellaneous 2,062,933                         54,743                              (2,008,190)      ‐97% 65 ‐ Transfers in 13,816,562                      28,511,162                      14,694,600    106% 70 ‐ Other  financing sources 360,859                            249,143                            (111,716)          ‐31% Grand Total 23,804,490$                   36,562,183$                   12,757,693$ 54% Revenue  Category Variance % Change CC 03/05/2019 Item No. 6 8 All Other Funds – Expenditures Mid‐Year Mid‐Year  2018 2019 05 ‐ Employee compensation 1,848,959$                      2,005,689$                      156,730$       8% 10 ‐ Employee benefits 1,252,726                         1,317,747                         65,021 5% 15 ‐ Materials 777,966                            741,559                            (36,407)‐5% 20 ‐ Contract services 2,797,681                         2,975,516                         177,834 6% 25 ‐ Cost  allocation 877,504                            1,029,449                         151,945 17% 30 ‐ Capital outlays 3,162,713                         2,036,118                         (1,126,594)‐36% 31 ‐ Special projects 10,705,465                      3,589,972                         (7,115,493)‐66% 40 ‐ Debt  services ‐                                     45,604                              45,604 N/A 45 ‐ Transfer  out 8,451,878                         17,162,250                      8,710,372 103% Grand Total 29,874,892$                   30,903,904$                   1,029,012$   3% % ChangeExpenditure Category Variance Mid-Year Requests by Fund Fund Amended  Budget as of  December 31,  2018 Requested Mid‐ Year  Adjustments Year‐End  Projections General 93,805,599$        8,355,542$          102,161,141$        Special Revenue 34,301,145          (761,762)                             33,539,383  Debt Service 3,169,438              ‐                                             3,169,438  Capital Projects 34,751,154          65,000                                34,816,154  Enterprise 11,178,571          63,808                                11,242,379  Internal Service 9,275,600              ‐                                             9,275,600    Total All Funds 186,481,507$     7,722,588$          194,204,095$        CC 03/05/2019 Item No. 6 9 Mid-Year Adjustments by Department Department Expenditure Revenue Fund Balance Community Development $118,000 $815,000 $697,000 Innovation and Technology 28,750                   ‐                             (28,750) Public Works 182,998                 ‐                             (182,998) Recreation and Community Services 107,602                 ‐                             (107,602) Non‐Departmental 7,285,238             9,900,000            2,614,762   Total All Funds $7,722,588 $10,715,000 $2,992,412 Mid-Year Adjustments by Department Community Development - $118,000* ●On-call Arborist $20,000 ●Construction Plan Check Contract Services $80,000 ●Moving Expenses Program at Aviare $18,000 * This request is fully funded by pass-through revenue CC 03/05/2019 Item No. 6 10 Mid-Year Adjustments by Department Innovation and Technology - $28,750 ●Labor Costing Software $28,750 Mid-Year Adjustments by Department Public Works - $182,998 ●Annual Park Fee Appraisal $12,600 ●Conduit Repair $28,000 ●Street Lighting Overtime $13,350 ●Compressor $29,729 ●Emergency Roof $25,000 ●Minimum Wage Increase $53,319 ●Blackberry Farm Ticket Kiosk Sun Shade $6,000 ●Blackberry Farm Café Air Curtains $15,000 CC 03/05/2019 Item No. 6 11 Mid-Year Adjustments by Department Recreation and Community Services - $107,602 ●Lawson Teen Center $25,520 ●Hidden Treasures $11,900 ●Senior Center Part-time Staffing $25,624 ●Bank Charges $44,558 Mid-Year Adjustments by Department Non-Departmental $7,285,238 ●Transfer out fund balance to Capital Reserve $8,000,000 ●McClellan Ranch West Parking Lot $65,000 ●Defunding of Bicycle Pedestrian Facility ($779,762) Improvement CIP CC 03/05/2019 Item No. 6 12 Mid-Year Staffing ●Full-time Budgeted Positions as of Dec 31, 2018 – 198.75 Next Steps ●FY 2018-19 ●3rd Quarter Report to Council May 21, 2019 ●FY 2019-20 ●Community Budget Workshop Mid-April 2019 (TBD) ●CIP Study Session April 30, 2019 ●Proposed Budget Available May 1, 2019 ●Proposed Budget Study Session May 13, 2019 ●Final Budget Hearing & Adoption June 4, 2019 CC 03/05/2019 Item No. 6 13 Recommendations 1.Accept the City Manager’s Mid-Year Financial Report for FY 2018-19 2.Approve Budget Modification 1819-043 for Mid- Year adjustments as described in the Mid-Year Financial Report 3.Adopt Resolution 19-021 approving Mid-Year Budget adjustments Questions?