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HomeMy WebLinkAbout03/15/1988, 9 - 1987-88 MID-YEAR BUDGET REVIEW IIIII�IyiIIhIIIIIIIIII� II MEETING DATE: Nu Ia���� city or san tins oBIspo 3-15-88 COUNCIL AGENDA REPORT ITEM NUMBER: FROM: William C. Statler, Director of Finance SUBJECT: 1987-88 MID-YEAR BUDGET REVIEW CAO RECOMMENDATION Receive and file the Mid-Year Budget Review for Fiscal Year 1987-88. OVERVIEW As part of the City's two-year financial plan, a report on the financial status of the City is presented to the City Council every six months. As discussed in greater detail below, the City's financial position at the mid-point of Fiscal Year 1987-88 is on target with budget projections. Further, overall revenue estimates for Fiscal Years 1987-88 and 1988-89 are generally equal to or greater than original budget projections; and no appropriation increases requiring City Council approval are recommended at this time. In addition to addressing revenue and expenditure trends for FY 1987-88 and revenue forecasts for FY 1988-89, this Mid-Year Review also provides a status report on the City Council Work Program for Fiscal Year 1987-88. FINANCIAL STATUS Provided as a separate document with this report is an Executive Summary of the Monthly Financial Report for December 1987, which includes summary graphs and tables of the City's financial status at the mid-point of 1987-88. The primary revenue and expenditure summaries provided in the report include: 0 Summary schedules of revenues, expenditures, and changes in fund balance/working capital for all major funds. • Summary schedules of revenues and expenditures - budget and actual . • Summary schedules of operating expenditures by function and program - budget and actual . As reflected in the Executive Summary, financial results for revenues, operating expenditures, and capital projects are on target with budget estimates: operating revenues are at 57% of annual estimated revenues; and operating expenditures and encumbrances are at 52% of annual appropriations. The additional 2% over the anticipated expenditure/ encumbrance of 50% is primarily due to insurance, debt service, and lease payments made during the first six months of the year. Effective with this submittal , it is anticipated that the City Council will receive an Executive Summary similar to that provided with this Mid-Year Report on a monthly basis. '��H�►�►►►�IIIII��p��u���1��1 city of san lues oi3ispo ONGs COUNCIL AGENDA REPORT REVENUE PROJECTIONS Provided in Attachment A is a summary of revenues by fund, which includes actual revenues for FY 1986-87; current budget and revised estimates for FY 1987-88; and projections for FY 1988-89. Major highlights relating to revenue trends include the following: Sales Tax Revenues - Sales tax revenues for Fiscal Years 1987-88 and 1988-89 are projected to increase by approximately 7.5% annually from 1986-87 levels, which is reflective of current state-wide trends as well as receipts through the first six months of the year. This level of sales tax activity is especially notable in light of the significant (17X) increase in sales tax revenues experienced from 1985-86 to 1986-87, Indicating that this increased base has not only been maintained but is continuing to be enhanced. Property Tax Revenues - Originally projected to increase from 1986-87 levels by 5%, property tax levels are projected to increase by 10% for Fiscal Years 1987-88 and 1988-89. The following is a summary of property tax revenue percentage allocations between funds for Fiscal Years 1981-82 through 1988-89: General Capital Parks & Fund Outlay Library Recreation 1981-82 through 1985-86 55.5% 25.2% 2.5% 16.8% 1986-87 25.2 55.5 2.5 16.8 1987-88 through 1988-89 40.0 40.0 2.5 17.5 As reflected above, the General Fund allocation of property taxes increased from 25.2% to 40.0% between Fiscal Years 1986-87 and 1987-88, which is the primary reason for the projected increase in General Fund property tax revenues between these two years. Transient Lodging Taxes - As reflected in the attached summary, transient lodging taxes for Fiscal Years 1987-88 and 1988-89 are projected to be significantly greater than originally estimated. This increase is primarily due to the opening of the Embassy Suites and Quality Suites hotels. Significantly, the revenues attributable to the new hotels are primarily the result of increased hotel rentals throughout the City, rather than being achieved through increased market shares from previously existing units. Licenses and Permits - This revenue category is primarily composed of building permit revenues, which account for $300,000 (97%) of the original General Fund budget estimate for this category. As reflected in Attachment A, it is projected that revenues from this source for ����►�H��110111p1i� ���alll city of san tuis oBispo WAS COUNCIL AGENDA REPORT FY 1987-88 will be less than originally projected by approximately 33% ($100,000) . This revised estimate reflects overall construction trends as well as actual receipts through the mid-point of the fiscal year. It should be noted that the original FY 1987-88 estimate of $300,000 was reflective of 1986-87 and 1985-86 revenue levels, which included receipts from major building projects such as the Central Coast Plaza as well as other commercial/hotel projects. EXPENDITURE TRENDS As noted previously, expenditure trends are on target with budget projections. Based on the two-year nature of the 1987-89 Financial Plan and the passage of only six months since its adoption, mid-year budget instructions to the operating departments included an expectation that no appropriations requiring City Council approval would be needed at this time. The departments have been responsive to this guideline, and no recommendations for appropriation increases are being presented to the City Council at this time. FINANCIAL PLAN GOALS AND OBJECTIVES The development and approval of major goals and objectives for the next two years is an integral component of the City's 1987-89 Financial Plan. As noted in the plan document, quarterly updates are provided to the City Council regarding the status of the reportable goals identified in the plan. On February 12, 1988, the Mid-Year Report on Goals and Objectives was distributed to the City Council, which included a comprehensive summary of the status of all major operating and capital programs. 1987-88 CITY COUNCIL WORK PROGRAM Provided in Attachment B is a status report on the City Council 's Work Program for FY 1987-88. As provided in the City Charter, the Mayor is required to submit an annual work program to the City Council for its consideration and approval at its first meeting in May. As discussed in the framework for the budget review process submitted to the City Council on September 8, 1987 (Attachment C) , it is intended that Consideration and review of the work program will become an integral part of the City's budgetary review process. As such, the attached status report on the 1987-88 Work Program has been submitted in conjunction with the Mid-Year Budget Review. 1988-89 BUDGET PROCESS The budget calendar for FY 1988-89 was included with the mid-year budget instructions distributed to the operating departments and City Council on February 2, 1988. Due to the two-year nature of the City's financial planning process, significant work efforts have already been made in developing policies, goals, and financial plans for 1988-89. Under the 9-� ���H�►b►►�IVIIIIIII�II�IIUIU city of san tuts osispo COUNCIL AGENDA REPORT City's two-year approach, it is intended that the focus between operating and capital programs will alternate annually. As such, the primary focus of the 1988-89 budgetary process will be to further refine the operating program levels that have already been identified in the 1987-89 Financial Plan, whereas the capital improvement plan will be reviewed in greater depth. In preparation for the FY 1988-89 budgetary process, a workshop is planned for late March or early April in order to: • Provide an overview of the City's financial policies, funding sources, and financial history. • Review the Mayor/Council Work Program for 1988-89. • Consider the framework for the budget process as outlined in Attachment C. SUMMARY The Mid-Year Budget Review for FY 1987-88 has been presented to the Council in conformance with the City's policy of formally presenting a report on the City's financial position every six months. In summary, the City's financial results at the mid-point of the fiscal year are on target _ with budgetary projections, and no increases in appropriations requiring City Council approval are recommended at this time. ATTACHMENT A CITY OF SAN LUIS OBISPO • REVENUES BY FUND AND SOURCE 1986-67 Through 1988-89 ---------------------------------------------------------------------------------- 1987-88 1987-88 1986-87 CURRENT REVISED 1988-89 ACTUAL BUDGET ESTIMATE PROJECTED ---------------------------------------------------------------------------------- GENERAL FUND Tax Revenues: Property Tax 651 ,389 1,092,000 1 ,160,000 1,276,000 Sales Tax 5,402,709 5,650,000 5,800,000 6,200,000 Trans Lodging Tax 947,487 920,000 1,200,000 1,200,000 Other Tax 2,737,704 2,679,200 2,824,600 2,915,000 Licenses & Permits 316,302 308,750 208,500 168,500 Fines & Penalties 457,359 392,000 398,000 398,000 Investmt & Prop Rev 605,243 622,500 625,500 625,500 Subventions & Grants 1 ,459,765 1 ,531 ,800 11531 ,800 1 ,656,800 Current Service Chgs 417,116 407,000 517,900 447,500 Other Revenues 19,585 106,800 96,600 60,000 ----------------------------------------------------------- 13,014,659 13,710,050 14,362,900 14,947,300 LIBRARY 72,956 68,250 73,500 80,800 PARKS & RECREATION 1 ,040,955 1 ,189,300 1,172,100 1 ,231 , 100 BIA 84,347 81,500 97,000 99,600 GAS TAX 648,786 613,000 536,000 536,000 SALES TAX (SB325) 366,350 467,000 442,300 442,300 REVENUE SHARING 223,654 0 20,000 20,000 CAPITAL OUTLAY 6,515,699 1,785,000 2,043,500 1,558,400 WATER 3,269,019 3,071 ,000 3,001 ,000 3,041 ,000 PARKING 1,434,226 540,000 762,000 746,000 SEWER 1 ,110,575 1 ,286,000 1 ,216,000 1 ,210,000 TRANSIT 410,897 439,000 467,600 472,600 GOLF COURSE 204,376 200,000 203,000 203,000 WHALE ROCK 678,491 543,000 643,000 643,000 DUVALL TRUST 9,662 10,000 10,000 10,000 ASSESSMT DISTRICTS 8,938 8,300 8,300 8,300 ------------------------------------------------------------ TOTAL REVENUES 29,093,590 24,011,400 25,058,200 25,249,400 =========---------- -- - p ATTACHMENT B L yuy d C T K IDY@q N = 3 y LL W Ln W ` 7 M ✓ C a0• b m O •► > Z G to L y C 7 O L1 O d .� W •O a °f a m i v « Bi CL Y Y > mC L 0 ca co Ol m Owl go YCC p {u� O W O d N O C d > 1� CW y E Yyy L O V F O 'O LL LL W a j a LL W y � O m O L N M Y E �L ✓ m i = oe a oc i o ee �i a W o, g > r aY N N N N N N N N N m co Q+ > N 10 � 3 'm o W ' a o y a• co U ✓ d a P � J W J� a u V � � o d •a c W L 'yl Y Y ✓ L � T d U > m O. W Y w '•' _ E ni d Y CD •F E 7 m L m O coo L m tJ m _ M U ✓ u C V � $ G L Y Y O m 2 IL C Y pCm 0 •� d 2 L m O i V r •� 9g�� d •U m d W Y m 00 M O Y E M E s _ T V m afad{{ m CO d Y w ✓ > 01 S d O W LNG 'c m m c 6 = a 0 •� IJ- d V N m Z 2 6°j ✓ u C m WO O Y Li rn r L Y W W L C Y [ > W ✓ A L F C >• W 7 C d L L C T a Y L ✓ L u E L d ✓ m m W T0 XJ L In 5 d L Y m M a 00 O7 Z d c C W C7 '0 W u L C CC m L W d O Y m J O. C ami « a O W co N d Y Ld m m Ol W O W W `- c CC m W W c V m U N co C W a L % u W0 W mC d L C •� 0 Y 0 0 ; a U C m oL ✓ m m O M 4GF_t L d W 7� 'g a m v $ o .8 ' m po 'ua O OI O M 7 m C>I Y 0 d C d ` Y M •.° 1 a N •r m O W O > 2 U V L V ti m > L d O C t W O L d O V m C m O d 7 d • W O. L V •� L J V O. O 'O 6 6 6 Y W Y N m •r ° a` a m = e m a a m = c m r � / 2CL a § . 0 § SL az u7 ( 2 fO a \ k } k ! = f ■ © � } 7 ( § . 0 | 9L ca F ) \ § \ � k § � } \Is / \ k � f | � 2 . � , � 20 2E 2 � W2 � a � = { 2 ] ] I at (Az a . \ ! kcc @ - 2 @ >. CAI - _ N_ — - � 2 � \ � ) � \ � ) . { op 2 ! § £ � cn 2 | ~ co § f � / $ � d | ' IB _ £ � mE ° . � § § . - j £ ' § ; ® � � � ® � � � 2 § 22 \ � \ k � ' � � kA � § � � 2k 22 � � a � up � 7 } " � 5 \ 2 | § Co ■ � } \ \ � jj \ \ � � f ƒ 0 / 6 _\ \ 7 | ! zt 2 ° ; � } / B � / § co 0 W 41 �4140 a ° © ' � .c | | 2 I } � ) t § � � 2 { kms § _ � \ 2 � 2 � . � ) { ) } } / \ f � / ƒ � � k2 § j XL 0 / w {I � ) � ` a ` 0 ; § & 2 ! � I $ a a � j . ; . . ! | I w } / �� N C w d O t V a m « c ai Y a ci to IV P O Y U C d Y V 0 x L mo HH 7 d W d N pp Y E- ' m L + ym Na EGD L E.1 = c0: 0oo m @ m !p O 70! m � m D. H Y N W J IV _ a d to s o e 9 De eD u P U a0 !. D• !d. !d. !d. N P N Ym M N r N N N N > pp1 Y O L L m CL. d O ° C L N w O CmtoC 0 Y N m L O E 0 m 10 Mq yy m O 01 E ' m Y CL > go g y m _d m '{O� 5TH co N > � V N s E m �Ea s d N ►d. O a d ° L m p ME� Y 10 J N Y m m Y Y _C ° N Ci O O Y C y Y N m i m d al E N m _ N L m Y Y L Y V m Y N C L Y > C 1 d z H > EY L d d C n Fa a N Y Y 1. yMq V U LE C Y C to r V E m M ym yG m m m U 11 II II II -0 O C N M I Y Y N V Q 0 V G W D 2 W ED X W � J l /V ATTACM ENT C ' �1i1��lil�Illl�h������11111 ��IIIIIII �illill IIII cityo san tuts oBsw 1 990 Palm Street/Post Office Box 8100 • San Luis Obispo, CA 93403-8100 September 8, 1987 MEMORANDUM To: City Council From: John Du Subject: Bu fs and the Budget Subcommittee This memo proposes a framework for discussion of the budget review process and the role of the Council Budget Subcommittee. Suggested Budget Process The budget review process can be improved with consensus of the Council and staff on the scope, format and order of the various phases of budget review. The following outline suggests a six-step approach to the review process for discussion: 1. Overview: Staff preparation and presentation of background financial information (current conditions, revenue and expenditure projections, and trends) and orientation to the budget (purpose, organization, policies and procedures) . 2. General Discussion: Council discussion of potential policies and programs. Preliminary setting of priorities and general guidance for the preparation of a budget. Creation of the Council's annual work program. 3. Budget Preparation: Staff preparation of draft budget. 4. Budget Review: Council review of the draft budget. Formal review with study sessions and public hearings: A. Review of overall financial situation and budget policies B. Review of programs and the CIP. S. Budget Approval: Adoption of annual budget resolution. 6. Budget Implementation: Implementation programs and policies approved in the budget. Staff monitoring and reporting program. Notes: The budget process is essentially continuous with budget implementation for one year occurring simultaneously with preparation for the next year. The depth and scope of review varies year to year depending on whether it is the first or second year of the two-year financial plan. Budget Subcommittee-Background The Budget Subcommittee was established in October 1981 by Mayor Billig to "synthesize, clarify, and articulate the Council 's many thoughts and concerns regarding the overall budgetary process and to make recommendations to the Council . " The goal of the Committee was to facilitate the Council's decision making and to establish a process which would be less trying and hectic than previously experienced. (See Enclosure *1) At the January 11 , 1982 Council meeting, the new CAO, Paul Lanspery, presented a memorandum to the City Council that stated the role and functions of the Budget Committee. (See Enclosure n2) The City Council unanimously accepted this recommendation. On May 14, 1982, the Budget Subcommittee advised the City Council on the performance of the City Administrative Officer in establishing the new budget format and approach sought by the Council and suggested a few principles to be followed by the City Council in their review of the budget that was being recommended by the CAO. (See Enclosure *3) The 1982-83 Budget was a cooperative effort between Council and staff to change the emphasis from a line-item budget to a process that allowed the Council and staff to address levels of service, goals, objectives, and major policy issues. As a result of the successful 1982-83 budget and the overall satisfaction with the budget process, the Budget Subcommittee has continued to operate as an activity of the City Council under the same guidelines given the committee in January 1982. During review of the 1987-89 Financial Plan, the Council Budget Subcommittee met frequently to assist staff with decisions on format and schedule. Consistent with previous guidelines the subcommittee concentrated on facilitating budget review and did not specifically deal with programs and policies toobe recommended by Administration and reviewed and approved by the whole Council . Future of the Budget Subcommittee If the City Council generally concurs with the suggested budget process outlined above, a reassessment by the City Council of the need for a Budget Subcommittee appears timely. To focus discussion, staff has outlined some. advantages, disadvantages and alternatives which are presented below: Advantages of a budget subcommittee: 1 . Saves members of the City Council time in working with staff -in preparation of a budget calendar -in defining budget formats -in development of budget classifications -in reviewing major budget-process issues. 2. Provides two COuncilmembers with an opportunity to develop experience and in-depth knowledge of the budget process in order to assist other Councilmembers, . 3. Allows staff to have convenient and direct contacts with the Council through their subcommittee in matters regarding budget procedure, formats, and policies. Disadvantages of a budget subcommittee: 1 . Members of the Council may perceive that the Budget Subcommittee has information not available to other members of the Council and that the committee may influence staff on substantive matters. 2. Budget Subcommittee may not inform the Council on direction given to staff. 3. Budget Subcommittee may not have clear guidance from the Council as to matters of procedure, format, or policy or conversely may not fully communicate the subcommittee meeting content back to the full City Council . 4. The Budget Subcommittee may be unnecessary if the whole City Council produces a clear annual work program and actively participates in the type of review process described in the six-step approach. Alternatives: 1. Continue Budget Subcommittee as currently organized with the role and functions as originally established. 2. Continue Budget Subcommittee as currently organized with modified roles and functions. 3. Discontinue the Budget Subcommittee, using the City Council as a "committee-of-the-whole. " JD:mp Attachments ��IIi!! ill i � ���;'I!►! I I I�i�� city of San WIS OBISPO MONTHLY FINANCIAL REPORT DECEMBER 1987 EXECUTIVE SUMMARY r . 1 CITY OF SAN LUIS OBISPO • MONTHLY FINANCIAL REPORT DECEMBER 1987 TABLE OF CONTENTS The Monthly Financial Report has been prepared using a "pyramid" approach in presenting varying levels of detail . Under this approach, the highest level of summary data is presented first, followed by progressively greater levels of report detail . As such, summary totals will generally be restated throughout the report in order to maintain report continuity and to reflect the relationship of summary data to more detailed reports. For example, the data summarized in the graphics section on pages 1 through 3 is further detailed in the summary tables provided on pages 7 through 9. All of the schedules provided in the Monthly Financial Report are generated from more detailed transaction reports produced by the City's Financial Management Information System. As such, additional supporting or detail information is available from the Department of Finance upon request. Mid-Year Graphic Summaries: Revenues 1 Operating Expenditures 2 Capital Project Expenditures 3 Summary Schedules of Revenues, Expenditures, and Changes in Fund Balance/Working Capital : General and Special Revenue Funds 4 Capital Outlay Funds g Enterprise Funds 6 Summary Schedules of Revenues and Expenditures - Budget and Actual : Revenue Summary 7 Expenditure Summaries: Operating Expenditures by Function and Type 8 Capital Project Expenditures by Fund 9 Summary Schedules of Operating Expenditures by Function and Program - Budget and Actual : General Government 10 Public Safety 11 Community Development 12 Leisure, Cultural & Social Services 13 Public Utilities 14 Transportation IS � - I it 1! i 10 II I ► ll � ► Ilh lil ! Il : i ' ri jo LC 2Eit I I iI I I � I . L 0 u Lo L6 . : I: : . I i! i.'. . . . . . .I E'.'. I . . . . . .I r ; E '=' D r�tf c C) � I 1 9 II z E > cc s 0 00, cc ChiLU LU ` I x a1 c 0 I ttl - U? GJ C J I I 0 co 7 F �P _= m GO _m `m I r--, a W �' r( O CO II I !I ;i I I. i' -1- !I I �I n II ill III iI I ! I CD it Ico it 00 co i ov I * I � o ' II ! I I rr co II Ii � I � I it . . . I. . . it c7 ( ;. . . r r '•' I J II U. 00 BIW : ::: : u: : : : :: ::: 1f . .II. . . . lI. . . I. . .1f. . . f l co co 0 co 0 co co 0 0 000 0 Go C n I ® gg I I 31 crs J m C cm m I W Z . 4t3 U U I w LU - } w U co p L J IL 0II W CU w Q F— .I CD W IL It 0 �I it -2- i I� 110 !! fI Cb � COI p w II I� ,,. I ,w , I ! f:: : I I I k: : :l I Oft �� I cqmj I LO II �. I �� �I u I�;�:•� f•:•; l I i � � I•:•:�� u I I I I k: ;�;f f--h I � n I� f�;�: l I i I������ k: :�:1 f.:.::1 l I I .: : :.:. I f.:: LU ; ,i . . . . . . : : : : I: :. I I f ! II fi i � 11 !! ISI ....� � �. . . I w II� C v C C C C C C C C C < II ~ LL ` 'LL LL ca 'LL LL I LL I d: CL � II gX ti vr� i _ 4- v II w Cts m 70 a �� x CD w O LL U3 fes`. Q7 f) I CT Lu !i Cs: V i a � I .I I ,I -3- GOG RAL 6 SPECIAL REVENUE FLWDS Fund Balance Report December 31, 1987 General Library Park 8 Rec B.I.A. Total Revenues 7,759,101 40,809 614,497 85,977 8,500,384 Expenditures 6,3619814 126x304 888►055 63,788 7039,960 Reveres over (under) Expenditures 1,397,287 (85,495) (273,557) 22,189 1,060,424 Fund Balance (Beginning) 3057,246 (269,298) 807,259 43,976 4,339,183 Fund Balance - (year-to-date): Reserved/Designated 2,9929746 0 847,938 139285 3,8530169 Undesignated 2,161,787 (354,793) (314,236) 52.880 1,545,638 Total Fund Balance 5,1541533 (354,793) 533,702 66,165 5,3999607 a*aa+E�rwEr*r traa+t�t+Era*ar*Asa*saaair#aaatirirafass#asaraira Projected Fund Balances: Fund balance - (year-to-date): 5,154433 (354,793) 533,702 66,165 5,399,607 Remaining revenues to be realized 6,173,349 27,441 1,513,388 15,523 7,729,701 Remaining expenditures to be charged 8,442,640 42,196 1,379,452 48,524 9,9121812 Projected Fund Balance 2,885,242 (369,548) 667,638 33,165 3,216,496 aaaaEraEaaEa*aaa*+EaaE asEwtwwarssEEEEsa♦a Reserved/Designated Fund Balance: Encumbrances 378,723 0 24,167 2,250 405,140 Facilities Reserve 1,540,275 0 0 0 1,540,275 Contingency 384048 0 0 11,035 395,783 Parks In Lieu Fee 0 0 823,308 0 823,308 Liability Insurance 300000 0 0 0 300,000 Library Fund Receivable 3850000 0 0 0 385000 Restricted Cash 4,000 0 463 0 4,463 Total Reserved/Designated Fund Balance 2,992046 0 847,938 13,285 3,85.3,969 • The deficit fund balance reflected for the Library Fund is due to its cash contribution during FY ]985-86 for the construction of the new City/County Library. In order to finance. the cash flow requirements of this contribution , a loan was authorized in the amount of $385,000 to the Library Fund from the General Fund's cultural facility reserve. The proceeds from this loan have been recorded as a liability in the Library Fund, with repayments currently scheduled in the amount of $38.500 annually. 4 CAPITAL Fl,7IS Fund Balance Report December 31, 1997 Capital Equip Rept Gas Tax Sales Tax Rev Sharing Total Revenues 1,569,968 0 264,107 139,588 16,701 1,990,363 Expenditures 1,351,445 257,416 432,477 0 214,685 29256,023 Revenes over (under) Expenditures 218,523 (257,416) (168,370) 139,588 (197,984) (265,660) Fund Balance (Beginning) 5,127,897 1,903,192 698,563 701,836 586,589 9,008,077 Fund Balance - (Year-to-date): Reserved/Designated 2,754,866 84,328 111,363 0 119,817 3,070,374 Undesignated 2,591,553 1,561,448 408,930 841,424 268,788 5,672044 Total Fund Balance 5,346,420 1,645,776 520,193 841,424 388,605 8,742,417 *aaair air* Projected Fund Balances: Fund balance - (year-to-date): 5,346,420 1,645,776 520,193 841,424 388,605 8,742,417 Remaining revenues to be realized 2,750,467 0 1,198,893 327,412 308,000 4,584,773 Remaining expenditures to be charged 6,628,171 559,187 1,717,670 500,000 694,020 10,089,047 Projected Fund Balance 1,468,716 1,086,591 1,417 669,836 12,585 3,238,143 + +� - Reserved/Designated Fund Balance: Encumbrances 1,430,980 84,328 111,363 0 119,817 1,746,487 Corporation Yard Debt 595,800 0 0 0 0 595,800 Planning 6 Matching Funds 120,000 0 0 0 0 120,000 Parks Master Plan 296,776 0 0 0 0 296,776 Mission Plaza 311,311 0 0 0 0 311,311 Total Reserved/Designated Fund Balance 2,754,866 84,328 111,363 0 119,817 3,070,374 -5- ENTERPRISE FUNDS Statement of Working Capital December 31► 1987 :later Parking Serer Transit Golf Whale Rock Revenues 1,738,556 354x714 584,161 242,804 108,989 359#054 Expenditures 2,232,691 1►974.451 630x068 282#382 96►369 262►545 Lease Revenue Bond Debt Service 0 481,593 0 0 0 0 Retirement of Long-Term Debt 1410000 0 0 0 0 0 Increase (Decrease) In Working Capital (1#604#135)(2#101,330) (45.907) (39,578) 12#619 96,509 Working Capital (Beginning) 2,708425 11,159#143 820,942 313,470 34410 1,042,836 Working Capital - (year-to-date)! Paserved/Designated 1#715,737 8#390,727 997,020 32#012 0 203,767 Undesignated (611,347) 667,087 (221#985) 241,880 46,929 935#578 Total Working Capital 1#104#390 9#057#813 775,035 273,892 46,929 1#139#345 Projected Working Capital: Working capital - (year-to-date) 1#104,390 9#0579813 775#035 273,892 46#929 1,139#345 Remaining revenues to be realized 1,332#444 185►286 701#839 196,196 91#011 183,946 Remaining expenditures to be charged 2#739#336 5#376#502 901#307 297#057 118#250 159#264 Projected Working Capital (302#502) 3#866#597 575,568 173031 19,691 1#164#027 -------------------------------------- Reserved/Designated Working Capital: Encumbrances 551#416 1,026,793 48,836 0 0 10#866 Capital Replacement Reserves 894,321 0 933,184 32,012 0 192,901 Operating Contingency 70,000 0 15#000 0 0 0 Revenue Bonds 200000 7,363.934 0 0 0 0 Total Reserved/Designated Working Capital 1,715►737 8#390,727 997420 32412 0 203,767 -6- REVENUE SUMMARY .;uly 1987 - December 1987 YEAR-TO-DATE ESTIMATED REMAINING PERCENT REVENUES REVENUES BALANCE REALIZED REVENUE SOURCE TAXES 7,025,368 12,262,200 (5,236,832) 57.29% LICENSES & PERMITS 113,283 308,750 (195,467) 36.69% FINES S FORFEITURES 226,606 392000 (165,394) 57.81% INVESTMENT REVENUES 962,543 1,772,000 (809,457) 54.32X SUBVENTIONS S GRANTS 1,284,640 3,104,800 (1,820,160) 41.38% SERVICE CHARGES 462,067 857,550 (395,483) 53.88% ENTERPRISE REVENUES 2,644,199 4,882,000 (2,237,801) 54.16% TRUST & AGENCY REVENUE 322,655 521,800 (199,145) 61.84% OTHER REVENUES 754,610 237,000 517,610 318.40% OPERATING TRANSFERS IN 244,962 352,760 (1079798) 69.44% TOTAL REVENUES 14,040,934 24,690,860 (10,649.926) 56.87% -7- OPERATING PROGRAMS EXPENDITURE SUMMARY July 1987 - December 1987 ENCUlMBRffiw REMAINING b EXPENSES APPROPRIATION WAKE X EXPENDED FUNCTION GENERAL GOVERNMENT 1,265,086 2x468,892 1,203,806 51.24% PUBLIC SAFETY 3,403,168 6,902.113 3,498,945 49.31% COMMUNITY DEVELOPMENT 850,275 1051,261 1►100,986 43.58X LEISURE► CULTURAL 8 SOCIAL SERVICES 1,429,300 2,800x804 1,371,504 51.03% PUBLIC UTILITES 2,957,557 4,839,984 1,882,427 61.ii% TRANSPORTATION 1,734053 3,351,884 11617,431 51.75% TOTAL OPERATING EXPENDITURES 11,639,839 22►314,938 10,675,099 52.16% EMIQDWM REMAINING 8 EXPENSES APPROPRIATION BALANCE X EXPENDED EXPENDITURE TYPE SALARIES b WAGES 5,986,217 12,624,730 6,638413 47.42% UTILITIES b COMPUNICATIONS 684,187 1,241,280 517,093 55.125 LIABILITY IMS 563,396 652,037 88,641 86.41% RENTS & LEASES 78,258 113,060 34,803 69.225 TRAVEL, MEETINGS 5 DUES 741,238 232,001 157,764 32.04% CONTRACT SERVICES 943,729 1,973,090 1,029,361 47.83% OFFICE EXPENSES 205,258 434,362 229,104 47.26% OPERATING MATERIALS 1,646,931 2,384,167 737,236 69.08% MINOR EQUIPMENT 379,924 818465 438,741 46.41X DEBT 99WICE 528,758 1,057,755 528,997 49.99X MISCELLANEOUS EXPENSES 309,070 439,131 1301,061 70.38% OPERATING TRANSFERS OUT 239,875 344,660 104,785 69.60% TOTAL OPERATING EXPENDITi1RF5 11,639,839 22,314,938 10,675,099 52.16X -8- CAPITAL PROJECT EXPENDITURES July 1987 - December 1987 ENMQ0wM REMAINING 5 EXPENSES APPROPRIATION BALANCE X DPEPmID FIRM CAPITAL MrrLAY 2,782,425 7,979,617 5,197,192 34.87% E6UIPlEM REPLACEMENT 341,744 8160603 474,859 41.83 LIBRARY 125,000 163►500 38,500 76.45X GAS TAX 440,271 1,940446 1,499,875 22.69% REVENLE SHARING 334,502 898,705 564,203 37.22% WATER 632,617 1,685►654 1,053,037 37.53X PARKING 2,5221,384 6,3179744 3,796,360 39.91X SEWER 13i,966 380,206 248,240 34.71X TRANSIT 3 28,000 25.000 0.00% GOLF 0 25000 25,000 0100% WHALE ROCK 14,280 19,366 5,086 73174% TOTAL CAPITAL E)(PENDITURES 7,324,189 20,251,541 12,927,352 36.17% -9- GENERAL GOVERNMENT Operating Programs Expenditure Summary July 1987 - December 1987 ENCUMBRANCES REMAINING e EXPENSES APPROPRIATION BALANCE % EXPENDED GENERAL GOVERNMENT Legislation 3 Policy City Council 24,739 85,489 60,750 28.94% General Administration City Administrative Officer 102,247 2221860 120,613 45.88% Public Works Administration 115,681 216,875 101,194 53.34% TOTAL 217,927 4391735 221,808 49.56% City Attorney 67,461 141,250 73,789 47.76% City Clerk Administration 6 Records 78,274 160:250 101,976 43.43% Elections 2,940 30,000 27,060 9.80% TOTAL 81,214 210,250 129,036 38.63% Finance 197,914 440,400 242,486 44.94% Personnel 136,713 261,600 124,887 52.26% Government Buildings 150,253 349,210 198,957 43.03% Other Support Services Miscellaneous Expenditures 97,615 204,219 106,604 47.80% Liability Insurance 291,251 336,739 45,488 86.49% TOTAL 388,866 540,958 152x092 71.88% GENERAL GOVERNMENT TOTAL $1,265,086 $2,468x892 $1,203,805 51.24% -10- PUBLIC SAFETY Operating Programs Expenditure Summary July 1987 - December 1987 ENCUMBRANCES REMAINING & EXPENSES APPROPRIATION BALANCE % EXPENDED PUBLIC SAFETY Police Protection Administration 201,349 328,910 127,561 61.221 Investigation 233,102 450,130 217,028 51.79% Patrol i,050,610 2,292,564 1,241,954 45.83X Technical Services 379,599 737,345 357,747 51.48% TOTAL 1,864,660 39808,949 1,944,289 48.95% Fire/Enviromental Safety Administration 139,809 316,015 176,205 44.24% Emergency Response 1,055,197 2,100,441 1,045,244 50.24% Hazard Prevention 139,036 282,147 143,111 49.28% Training 51,805 99,230 47,425 52.21X Technical Services 134,889 232,667 979777 57.98% Disaster Preparedness 17,771 62,665 44,894 28.36% TOTAL 1,538,507 3,093,164 1,554,656 49.74% PUBLIC SAFETY TOTAL 33,403,168 $6,902,113 $39498,946 49.319 -11- I COMMUNITY DEVELOPMENT Operating Programs Expenditure Summary July 1987 - December 1987 ENCUMBRANCES REMAINING & EXPENSES APPROPRIATION BALANCE X EXPENDED COMMUNITY DEVELOPMENT Planning Planning Commission 1,688 6,690 5,002 25.23% Cultural Heritage Committee 2,255 63,250 60,995 3.57% Planning Adv./Current Enf. 306,363 697,846 391,483 43.90% TOTAL 310,306 767,786 457,480 40.429 Construction Developmeni Architectural Review Commission 1,234 4,020 2,786 30.70X Construction Engineering 293,324 617,650 324,326 47,49% Construction Regulation 179,373 449,494 270,120 39,91% TOTAL 4731932 1,071,164 597.,232 44.24% Economic Development Business Improvement Area 66,038 112,311 46,274 58,80X COMMUNITY WJEiOPMENT TOTAL $8509275 .$11951,261 $1t100r986 43.58% -12- LEISURE, CULTURAL & SOCIAL SERVICES Operating Programs Expenditure Summary July 1987 - December 1987 ENCUMBRANCES REMAINING S EXPENSES APPROPRIATION BALANCE X EXPENDED LEISURE, CULTURAL & SOCIAL SERVICES Parks & Recreation Commissions & Committees 284 3,150 2,866 9.02% Recreation Facilities Maintenance 3229903 728,900 405,997 44.30% Tree Maintenance 78,370 185,071 106,700 42.35X Recreation Programs 399,568 922,592 523,023 43.31% TOTAL 801,126 198399712 1,038,586 43.55% Municipal Swimming Pool Swimming Pool Maintenance 589377 96,112 37,734 60.74% Aquatic Programs 719735 162,000 90,265 44,28X TOTAL 1309113 2589112 1279999 50.41X Municipal Golf Course Operations & Maintenance 969369 189,619 93,250 50,82% City/County Library Library Building Maintenance 1,304 59000 3,696 26.08% Community Promotion Facilities Promotional Coordinating Commission 51 19000 949 5.10% Community Promotion Program 209,808 226,000 16,192 92.84% TOTAL 2099859 227,000 17,141 92.45% Human Relations Human Relations Commission 2,955 69850 39895 43.15% Human Relations Program 128,219 2079758 79,539 61.r-X TOTAL 131,174 214,608 839434 61,12% Other Support Services Operating Transfers Out 129000 12,000 0 100.00% Liability Insurance 47,356 54,753 79397 86.49% TOTAL 59,356 66,753 7,397 88.92% CULTURAL/LEISURE TOTAL $1,429,300 32,8009804 $19371,504 51,03% -13- PUBLIC UTILITIES Operating Programs Expenditure Summary .;uly 1987 - December 1987 ENCUMBRANCES REMAINING & .EXPENSES APPROPRIATION BALANCE % EXPENDED PUBLIC UTILITIES Water Service Water Source & Supply 943,775 984000 40,225 95.91% Power Generation 2009 15,600 13,591 12.88% Water Treatment 346,924 665,939 319015 52.10% Water Transmission & Distribution 138,343 3379150 198,807 41.03% Water Customer Service 941903 294,904 200001 32.18% Water Engineering & Administration 457,990 7109325 252,335 64.48% Debt Service 4167,546 278,455 110,909 60.17% TOTAL 2,151,490 3,286,372 1,134,883 65.47% Sewer Service Wastewater Collection & Transportation 117,314 275,460 158,146 42.59% Wastewater Treatment & Disposal 301,277 568,062 266;785 53.04%' Sewer Engineering & Administration .127,666 2266,286 138,620 47.94% Debt Service 680 41,360 40,680 1.64% TOTAL 546,937 1,151,168 604,231 .47.51% Whale Rock Reservoir Reservoir Operations 246,997 361x343 134,346 64.77% Fishing Program Expense 12,133 21,100 8,967 57.50% TOTAL 259,131 442,443 143,312 64.39% PUBLIC UTILITIES TOTAL $2,957,557 $4j839r984 $1,8821426 61.11% .14- TRANSPORTATION Operating Programs Expenditure Summary July 1987 - December 1987 ENCUMBRANCES REMAINING d EXPENSES APPROPRIATION BALANCE % EXPENDED TRANSPORTATION Streets b Sidewalks Street 6 Sidewalk Maintenance 408,526 555,936 147,411 73.48% Street Signs & Pavement Marking 281,662 6569200 376,538 42.79% Storm Drainage Maintenance 100,881 148,200 47,319 68.07% 102,202 210,000 107,798 48.67% TOTAL 893,271 1,572,336 679,065 56.81% Vehicle Parking Debt Service 360,531 737,940 377,409 48.86% Parking Program 84,818 222,139 137,321 38.18% Parking Enforcement 34,510 73,130 38,620 47.19% TOTAL 479,860 11033,209 5`,3,349 46.44% MunicipaL Transit System MunicipaL Transit 151,622 423,679 272057 35.79% Operating Transfers 130,760 130,760 0 100.00% 282,382 554,439 272,057 50.93% VehicLe and Equipment Maintenance 78,940 191,900 112,960 41.14% TRANSPORATION TOTAL 31,734,453 $3,351,884 $1,617,432 51.75% -15-