HomeMy WebLinkAbout05/01/2018 06B 2017 Year-End Revenue & Expenditure ReportBUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDASTATEMENT
1
Item No. 6.B.
For Meeting of: May 1, 2018
ITEM TITLE: 2017 Year -End Revenue & Expenditure Report
SUBMITTED BY: Ana Cortez, Assistant City Manager
Tara Lewis, Financial Services Manager
SUMMARY EXPLANATION:
Attached for your review is the City of Yakima's 2017 Year -End Revenue & Expenditure Report
comprised of the following:
• Memorandum
• Fund Balance Summary
• Revenues & Expenditures by Fund Grouping -Actual to Budget
ITEM BUDGETED:
NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR
SUBMITTAL:
City Manager
STAFF RECOMMENDATION:
Accept report
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
Description Upload Date
0 2017 Year End Financial Reporty 4.%2412018
Type
Co\,er Memo
2
MEMORANDUM
To: The Honorable Mayor and Members of the City Council
From: Ana Cortez, Assistant City Manager
Tara Lewis, Financial Services Manager
Date: May 1, 2018
Subject: 2017 Year -End Revenue & Expenditure Report
Attached for your review is the City of Yakima's 2017 Year -End Revenue & Expenditure Report. Balances
shown are subject to final adjustments that are made as a result of the year-end closing process. The
City's official financial report, the Comprehensive Annual Financial Report (CAFR) will be available in
preliminary form in early June and in final form once the audit has been completed.
Overall financial results for the City were positive. General Government revenues exceeded
expenditures. Fund balance grew to just over $8 million. The General Government Fund Balance is
10.3% of expenditures (below the 16.7% target). Noteworthy is that the Risk Management Fund is now
in a positive balance. Results in other funds were as expected.
The following reports are attached:
• Fund Balance Summary
• Revenues & Expenditures by Fund Grouping - Actual to Budget
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FUND BALANCE SUMMARY
CHANGE IN FUND BALANCE
General
Parks and Recreation
Street & Traffic Operations
General Government Subtotal
Other Governmental Operating Funds
Government Capital Funds
Enterprise Operating Funds
Enterprise Capital Funds
Internal Service Funds
Employee Benefit Reserve
Risk Management Reserves
Debt Service & Agency Funds
Total
20% —
15% —
10% —
50/0
0%
16.7°G,
Fund
Balance
1/1/2017
Fund
Balance % of
Revenue Expenditure 12/31/2017 Exp
$ 7,097,328
284,188
551,611
$ 64,447,326
5,225,182
8,343,941
$ 65,179,900 $ 6,364,754
5,502,582 6,788
7,243,668 1,651,884
7,933,127
4,047,567
9,864,810
12,283,624
29,629,512
3,830,505
3,131,989
(951,265)
4,092,714
9.8%
0.1 %
22.8%
78,016,449 77,926,150 8,023,426 10.3%
12,067,629
7,465,710
53,489,328
11,545,934
5,926,918
14,302,507
5,581,336
8,242,107
12,232,297 3,882,899 31.7%
9,056,398 8,274,122 91.4%
52,898,900 12,874,052 24.3%
8,475,571 32,699,875 385.8%
6,521,786 3,235,637 49.6%
14,645,882 2,788,614 19.0%
3,516,409 1,113,662 31.7%
7,909,810 4,425,011 55.9%
$ 73,862,583 $ 196,637,918 $ 193,183,203 $ 77,317,298 40.0%
GENERAL GOVERNMENT FUND BALANCE
2013 - 2017
17.1`,
Target 2013
13.7%
2014
9.9%
2015
10.8%
Fund balance as percent of expenditures
2016
10.3%
2017
Finance Year -End Report - 2
4
REVENUES & EXPENDITURES BY FUND GROUPING
General
Parks and Recreation
Street & Traffic Operations
General Government Subtotal
Other Government Operating Funds
Government Capital Funds
Enterprise Operating Funds
Enterprise Capital Funds
Internal Service Funds
Employee Benefit Reserves
Risk Management Reserve
Debt Service & Agency Funds
Total
General
Parks and Recreation
Street & Traffic Operations
General Government Subtotal
REVENUE COMPARISON
(Budget vs. Actual)
2016
2017
Actual
as of 12/31
0/0
Rec'd
Annual
Amended Actual
Budget as of 12/31 Rec'd
0/0
$ 63,478,752
5,170,146
5,402,948
74,051,846
12,589,567
11,084,788
52,637,603
18,825,863
5,427,260
12,739,825
3,728,370
8,229,108
$ 199,314,230
100.8%
93.8%
106.8%
100.7%
88.3%
44.6%
102.6%
78.7%
77.0%
108.0%
76.2%
92.0%
90.4%
$ 65,362,882
5,547,225
8,744,540
$ 64,447,326
5,225,182
8,343,941
79,654,647 78,016,449
15,547,572 12,067,629
22,394,243 7,465,710
54,804,822 53,489,328
18,640,710 11,545,934
6,188,850 5,926,918
15,134,500 14,302,507
4,078,528 5,581,336
8,915,059 8,242,107
$ 225,358,931 $ 196,637,918
EXPENDITURE COMPARISON
(Budget vs. Actual)
Other Government Operating Funds
Government Capital Funds
Enterprise Operating Funds
Enterprise Capital Funds
Internal Service Funds
Employee Benefit Reserves
Risk Management Reserve
Debt Service & Agency Funds
Total
2016
2017
98.6%
94.2%
95.4%
97.9%
77.6%
33.3%
97.6%
61.9%
95.8%
94.5%
136.8%
92.5%
87.3%
Actual
as of 12/31
$ 62,248,798
5,421,860
5,600,888
73,271,546
11,850,783
11,836,589
51,446,639
13,446,763
6,989,419
12,527,448
5,412,878
8,090,001
$ 194,872,066
0/0
Annual
Amended Actual
Exp'd Budget as of 12/31 Exp'd
98.8% $ 65,603,043 $ 65,179,900 99.4%
98.9% 5,583,642 5,502,582 98.5%
103.6% 8,379,427 7,243,668 86.4%
99.2% 79,566,112 77,926,150 97.9%
0/0
82.3%
38.7%
97.4%
42.1%
96.1%
94.6%
95.6%
90.3%
81.6%
15,417,268 12,232,297
27,827,242 9,056,398
56,649,402 52,898,900
32,335,306 8,475,571
6,455,742 6,521,786
16,053,385 14,645,882
3,913,381 3,516,409
8,859,465 7,909,810
$ 247,077,303 $ 193,183,203
79.3%
32.5%
93.4%
26.2%
101.0%
91.2%
89.9%
89.3%
78.2%
Finance Year -End Report - 3