HomeMy WebLinkAbout08/16/2011 10C 2nd Quarter 2011 Revenue and Expenditure Report •
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. I C7 C'
For Meeting Of Aug. 16, 2011
ITEM TITLE: 2nd Quarter 2011 Revenue and Expenditure Report
SUBMITTED BY: Michael Morales, Interim City Manager
Rita DeBord, Finance Director
Cindy Epperson, Deputy Director of Accounting and Budgeting
CONTACT PERSONTTELEPHONE: Cindy Epperson, 575 -6070
SUMMARY EXPLANATION:
The attached report provides a comprehensive summary of the City of Yakima's 2011 budget
and expenditure status through June 30, 2011. Overall, the 2nd quarter activity reflects a stable
fiscal position.
Staff has started the development of the 2012 preliminary budget. The trends included in the
attached report will be taken into consideration as these estimates are made.
Resolution Ordinance Contract Other (Specify) Report
Funding Source: Not Applicable
APPROVED FOR SUBMITTAL:
City Manager
STAFF RECOMMENDATION: Accept Report
BOARD /COMMISSION RECOMMENDATION:
COUNCIL ACTION:
MEMORANDUM
0
TO The Honorable Mayor and Members of the City Council
FROM: Michael Morales, Interim City Manager
Rita DeBord, Finance Director
Cindy Epperson, Deputy Director of Accounting & Budgeting
SUBJECT: Second Quarter 2011 Budget Revenue and Expenditure Report
This report provides a comprehensive summary of the City's financial status from January 1 through
June 30, 2011. This summary information is provided by fund in the following categories:
➢ General Government Resources
➢ General Government Expenditures
➢ Other Operating and Enterprise Funds
➢ Capital Funds
➢ Reserve Funds
Overall, the City's second quarter budget status reflects a stable fiscal position.
As of this date, the 2011 amended City of Yakima Budget is $200,214,170 or $7,054,648 greater than the
adopted 2011 Budget. The increase is due primarily to carry -over encumbrances of $3.6 million, and
non- lapsing appropriations for Arterial Street Construction, Water, and Wastewater construction
projects of $3.0 million.
Additional appropriations have either already been, presented or are tentatively scheduled for Council
action. Typically, appropriation requests are brought forward if:
1) There has been a significant escalation in a cost that the operating funds are not able to
absorb (i.e. jail), or
2) The City has received additional revenue, either through grant awards or program fees,
which obligates the City to expend additional funds.
® The following is a partial list of appropriations that will affect the total City budget presented in this
report:
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➢ Increased Jail Costs
➢ Populate Accounts in the new Yakima Redevelopment Area fund for the LIFT project
➢ Upper Kiwanis Park project completion
The table presented below is a summary of the total city budget, summarized by fund types.
CITYWIDE EXPENDITURE SUMMARY .
2011 2011
Amended Actual as of Variance Variance
Funds Budget 6/30 Amount Percent
General $48,638,886 $23,484,093 $25,154,793 51.7%
Parks and Recreation 4,032,938 2,045,222 1,987,716 49.3%
Street and Traffic Operations 5,074,091 2,548,556 2,525,535 49.8%
General Government Subtotal $57,745,915 $28,077,871 $29,668,044 51.4%
Community Development $4,144,771 $1,087,818 $3,056,953 73.8%
Utilities / Other Operating 60,610,039 29,571,209 31,038,830 51.2%
Capital Improvement 47,103,464 9,623,309 37,480,155 79.6%
G.O. Bonds / Notes 3,635,077 1,055,979 2,579,098 71.0%
Water / Wastewater Revenue Bonds 2,862,054 548,526 2,313,528 80.8%
Employee Benefit Reserves 14,041,113 7,035,931 7,005,182 49.9%
III
Operating Reserves 9,902,608 1,204,618 8,697,990 87.8%
Trust and Agency Funds 169,129 1,040 168,089 99.4%
Total $200,214,170 $78,206,301 $122,007,869 60.9%
Summary Explanation:
General Government (i.e. tax - supported) operations have expended 48.6% of the amended budget,
which is slightly under the expected 50% through the first 6 months. This is similar to the percentage
spent at this same point in time in prior years, and is due primarily to position vacancies.
Community Development runs the City's HUD Community Development Block Grant and
Homeownership Grant federal programs. Since the 2011 budget was not released to be spent prior to
the mid -year mark, this area has only spent 26.2% of its amended budget. -
Other operating funds are at 48.8% of budget, slightly below the 50% mark as expected.
Capital Improvement funds are only 20.4% spent, in accordance with individual project timelines.
This, too, is typical at this time of year.
Bond funds are expended according to debt amortization schedules. Since many of the bond issues are 0
scheduled for the City to make annual principal payments later in the year, it is normal for these funds
to be underspent at June 30.
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Employee Benefit Reserves are right at the 50% mark. Medical expenses are typically greater in the
second half of the year, because deductibles are being met after the beginning of the year. The reserve
IP levels in the medical fund will be closely scrutinized as we prepare the 2012 budget.
Operating Reserves includes the Risk Management Fund, which had an appropriation of $7 million
related to the potential mitigation of environmental issues arising from the former City landfill site in
the Yakima Redevelopment Area (to be funded by insurance reimbursement). This project is still early
in the planning stages. If this is excluded from the calculation, this category is 41.5% of budget. The
general liability insurance premium is paid in the 3 quarter of the year, and staff has just recently been
notified that the premium is higher than budgeted because of recent claims activity. The increase was
partially offset by other premiums being less than budgeted, so that the net overage is expected to be
about $100,000. This will be considered as this budget is developed.
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GENERAL GOVERNMENT RESOURCES
Table I identifies and compares General Government resources by major source through the second
quarter for 2009, 2010 and 2011. As of June 30, 2011, total General Government resources, which
include actual beginning balances, are at $35,610,051 or 56.5% of the total 2011 budget. (This compares
to a level of 55.9% for the same period in 2010.)
Summary:
Overall, this revenue performance has remained flat as the City struggles with the negative forces in
the national economy. However, the year end estimate is slightly above the budgeted level. As we
develop the 2012 Preliminary Budget, the revenue estimates for 2011 will continue to be revised to take
into account latest trends.
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TABLEI
® GENERAL GOVERNMENT RESOURCES
3 YEAR COMPARISON
2009 2010 2011
To % To % Amended To
Date Rec'd Date Rec'd Budget Date Rec'd
General Fund Resources
Taxes
Property Tax $4,329,887 56.0% $4,859,305 57.0% $9,398,000 $5,422,392 57.7%
Criminal Justice Sales Tax Inc .3% 799,047 46.4% 785,529 46.7% 1,602,000 823,597 51.4%
Criminal Justice Sales Tax 441,972 45.0% 448,618 46.7% 905,000 466,249 51.5%
Sales Tax 6,183,550 44.4% 6,139,307 48.3% 12,333,000 6,231,953 50.5%
Franchise Tax
Nob Hill Water Assn. - -2.0% 12,670 26.6% 13,436 32.0% 42,000 7,680 18.3%
Utility Tax
Pacific Power -- 6.0% 1,966,492 53.9% 1,978,946 51.9% 3,816,000 2,131,742 55.9%
Nob Hill Water Assn. -- 14.0% 89,436 27.1% 89,009 27.4% 330,000 60,543 18.3%
Natural Gas -- 6.0% 1,263,022 94.3% 931,098 54.5% 1,245,000 931,403 74.8%
Yakima Waste Systems - 10.0% 131,470 42.4% 135,821 42.4% 330,000. 128,606 39.0%
Cellular Telephone -- 6.0% 765,839 49.6% 781,742 49.8% 1,655,000 781,561 47.2%
Telephone -- 6.0% 545,615 47.9% 468,532 43.8% 900,000 345,919 38.4%
Water -- 14.0% 386,664 42.7% 408,999 41.7% 1,015,000 376,887 37.1%
Wastewater -- 14.0% 925,237 46.7% 998,496 46.9% 2,203,500 903,627 41.0%
Refuse 9.0% 193,538 46.6% 213,837 50.9% 440,000 205,557 46.7%
Total Utility Tax 6,267,313 54.0% 6,006,480 48.7% 11,934,500 5,865,845 49.2%
Business License Tax 490,386 94.3% 479,993 92.3% 510,000 474,230 93.0%
Gambling Tax 507,426 54.4% 442,493 47.7% 871,000 434,611 49.9%
Dangerous Bldg Tax Assessment 14,811 n/a 135 n/a 5,000 4,766 953%
Leasehold Excise Tax 5,699 n/a 1,115 27.9% 4,000 4,080 102.0%
Total Taxes 19,052,761 50.8% 19,176,411 50.8% 37,604,500 19,735,403 52.5%
Intergovernmental
Police Federal Grants 0 0.0% 0 0.0% 65,000 8,334 12.8%
Fire Federal Grants 30,000 50.0% 9,000 0 . 0
Criminal Justice Funds 310,840 72.1% 333,703 52.1% 340,000 168,036 49.4%
Liquor Excise Tax 208,421 49.6% 214,835 53.0% 427,700 219,670 51.4%
Liquor Profits 286,874 46.3% 352,730 50.8% 630,500 356,988 56.6%
School Dist. #7 Resource Officers 181,806 49.1% 194,100 52.4% 280,000 155,834 55.7%
Other Intergovernmental 411,526 64.2% 251,889 35.2% 698,330 418,822 60.0%
Total Intergovernmental 1,429,467 49.5% 1,356,257 45.8% 2,441,530 1,327,684 54.4%
Licenses and Permits' $338,165. 41.5% $479,338 69.6% $765,800 $321,251 41.9%
Charges for Service 2,324,411 47.6% 2,527,724 51.4% 5,096,985 2,673,076 52.4%
Fines and Forfeitures 873,857 53.5% 886,043 51.0% 1,721,400 802,842 46.6%
Misc. Revenue 306,625 33.1% 296,643 58.0% 339,450 164,677 48.5%
Non- Revenue 115 11.5% 0 0.0% • 1,000 • 0 . 0.0%
® Transfers From Other Funds 0 0.0% 0 0.0% 40,000 40,000 100.0%
Total General Fund Revenue $24,325,401 50.0% $24,722,416 - 50.9% $48,010,665 $25,064,933 52.2%
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Beginning Balance 6,798,731 100.0% 4,612,886 100.0% 4,480,899 4,480,899 100.0%
Total General Fund Resources $31,124,132 56.1% $29,335,302 55.1% $52,491,564 $29,545,832 56.3%
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Parks & Recreation Fund Resources
Property Tax 945,287 52.5% 961,800 53.8% 1,546,000 817,547 52.9%
Intergovernmental 92,639 51.4% 84,211 57.0% 107,700 43,331 40.2%
Charges for Services 508,945 54.5% 580,307 61.3% 963,365 521,610 54.1%
Misc. Revenue/Non-Revenue 110,218 43.1% 109,314 44.2% 238,420 131,506 55.2%
Transfers From Other Funds 471,614 43.9% 495,906 44.4% 1,179,000 460,215 39.0%
Total Parks/Rec. Fund Revenue $2,128,703. 50.2% $2,231,538 52.5% $4,034,485 $1,974,209 48.9%
Beginning Balance 451,356 100.0% 339,555 100.0% 385,681 . 385,681 100.0%
Total Parks /Rec. Fund Resources $2,580,059 54.9% $2,571,093 56.1% $4,420,166 $2,359,890 53.4%
Street/Traffic Fund Resources
Property Tax 2,265,538 52.5% 1,994,048 53.8% 3,508,000 1,855,081 52.9%
County Road Tax 6,374 0.0% 12,747 0.0% 5,000 180 0.0%
Fuel Tax - Street 584,502 43.3% 594,780 49.6% 1,250,000 617,660 49.4%
Other Intergovernmental (91,834) 0.0% 0 0.0% 0 2,555 .0.0%
Charges for Services 13,210 83.8% 8,131 3.8% 215,760 109,014 50.5%
Misc. Revenue /Non- Revenue 673 0.8% 56,526 53.8% 63,050 31,516 50.0%
Total Street/Traffic Fund Revenue $2,778,463 48.2% $2,666,232 51.0% $5,041,810 $2,616,006 51.9%
Beginning Balance 1,372,651 100.0% 1,461,266 100.0% 1,088,323 1,088,323 100.0% •
Total Street/Traffic Fund Resources $4,151,114 58.2% $4,127,498 61.7% $6,130,133 $3,704,329 60.4%
Total General Government
Resources $37,855,305 56.2% $36,033,893 55.9% $63,041,863 $35,610,051 56.5%
Table II identifies the beginning balance, revenues and expenditures to date, and the ending balance for
each of the three General Government Funds. For 2011, at the end of the second quarter, the
Cumulative General Government Revenue is $29,655,148, compared to $29,620,186 at June 30, 2010.
The slight increase of $34,962 or 0.1% is the net result of growth in some areas, but reductions in other
areas in comparison to the prior year. Expenditures of $28,077,870 are below prior year actual of
$29,177,790 by $1,099,920 or 3.8% because of the budget reductions implemented at the beginning of
the 2011 year, coupled with savings because of position vacancies.
Total revenues are exceeding expenditures by $1.58 million, which is a stronger position than the City
has been in at the mid -year mark since the recession started in 2008. This is why an additional mid-
year budget reduction is not being proposed at this point in time.
All of these trends are being used to estimate both the 2011 and 2012 results, as budget development is
currently in process. -
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TABLE II
GENERAL GOVERNMENT SUMMARY OF OPERATIONS
3 YEAR COMPARISON
2009 2011 2011
To % To % Amended To %O
Date Rec'd Date Rec'd Budget Date Rec'd
General Fund
Beginning Balance $6,798,731 $4,612,886 $4,480,899 $4,480,899
Revenues $24,325,401 50.0% $24,722,416 50.9% $48,010,665 $25,064,933 52.2%
Expenditures $24,985,557 48.2% $24,455,968 48.7% $48,638,886 $23,484,092 48.3%
Ending Balance $6,138,575 $4,879,334 • $3,852,678 $6,061,740
Parks and Recreation Fund
Beginning Balance $451,356 $339,555 $385,681 $385,681
Revenues $2,128,703 50.2% $2,231,538 52.5% $4,034,485 $1,974,209 48.9%
Expenditures $2,064,576 47.2% $1,997,698 47.4% $4,032,938 $2,045,222 50.7%
Ending Balance $515,483 $573,395 $387,228 $314,668
• Street/Traffic Fund
Beginning Balance $1,372,651 $1,461,266 $1,088,323 $1,088,323
S Revenues $2,778,463 48.2% $2,666,232 51.0% $5,041,810 $2,616,006 51.9%
Expenditures $2,898,832 47.7% $2,724,124. 50.2% $5,074,091 $2,548,556 50.2 %
Ending Balance '$1,252,282 $1,403,374 $1,056,042 $1,155,773
Total General Government
Beginning Balance $8,622,738 $6,413,707 $5,954,903 $5,954,903
Revenues $29,232,567 49.8% $29,620,186 51.0 % - :$57,086,960 $29,655,148 51.9%
Expenditures $29,948,965 48.1% $29,177,790 48.7% $57,745,915 $28,077,870 48.6%
Net General Government Balance $7,906,340 $6,856,103 $5,295,948 $7,532,181
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GENERAL GOVERNMENT EXPENDITURES
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TABLE III
GENERAL GOVERNMENT EXPENDITURES
2011 BUDGET VS. ACTUAL
2011 2011
Amended Expenditures Unexpended Percent
Budget to 6/30/11 Balance Spent
General Fund
Police 22,028,620 $ 10,843,662 $ 11,184,958 49.2%
Fire 8,929,340 4,272,483 4,656,857 47.8%
Information Systems 2,568,136 1,178,747 1,389,389 45.9%
Transfers To Other Funds 2,412,275 1,057,098 1,355,177 43.8%
Police Pension 1,404,590 752,061 652,529 53.5%
Financial Services 1,386,046 660,251 725,795 47.6%
Code Administration 1,330,361 612,705 717,656 46.1%
Utility Services 1,305,084 628,927 676,157 48.2%
Municipal Court 1,234,194 564,882 669,312 45.8%
Legal 1,139,157 501,141 638,016 44.0%
Engineering 757,250 374,125 383,125 49.4%
Planning 678,679 346,185 332,494 51.0%
City Manager 509,913 245,280 264,633 48.1%
Indigent Defense 480,000 234,872 245,128 48.9%
Purchasing 452,835 215,707 237,128 47.6%
Human Resources 447,436 193,238 254,198 43.2%
Records 411,556 213,004 198,552 51.8%
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City Hall Maintenance 352,127 211,883 140,244 60.2%
Intergovernmental 257,439 172,135 85,304 66.9%
City Council 203,061 124,516 • 78,545 61.3%
State Examiner 103,000 24,924 78,076 24.2%
Urban Area Hearings Exam. 39,500 8,345 31,155 21.1%
Total General Fund 48,430,599$ 23,436,171 24,994,428 48.4%
Parks & Recreation Fund 4,032,938 2,045,222 1,987,716 50.7%
Street & Traffic Ops. 5,074,091 2,548,556 2,525,535 50.2%
t . Total General Government 57,537,628 $ 28,029,949 29,507,679 48.7%
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OTHER OPERATING AND ENTERPRISE FUNDS
0 Table IV represents the status of the Operating and Enterprise Funds.
In total, Other Operating and Enterprise Funds have generated revenues of $29,204,480 or 46.7 %,
while expenditures_ are at $30,659,027 or 47.3% of budget estimates through the first six months of
2011. Overall, revenues and expenditures are performing as expecting through this time frame.
TABLE IV
OTHER OPERATING / ENTERPIISE FUNDS
2011 BUDGET VS. ACTUAL
Actual ------ - - - - -- Revenue ---- - - - - -- Appropriations - --- - -- Ending
Beg Bal Amended Actual % Amended Actual % Balance
Fund 1/1/11 Budget Revenue Rec'd Budget Exp Exp'd 6/30/11
Economic Development $198,520 $575,000 $608,925 105.9% $669,372 $181,599 27.1% $625,846
Community Development 283,879 4,154,993 1,302,119 31.3% 4,144,771 1,087,818 26.2% 498,180
Community Relations • 901,959 474,950 220,473 46.4% 561,954 230,725 41.1% 891;707
Community Services 15,560 108,215 66,760 61.7% 108,215 81,560 75.4% 760
Growth Management 23,116 3,485 0 0.0% 26,601 0 0.0% 23,116
0 Cemetery 81,766 237,550 118,246 49.8% 262,463 130,392 49.7% 69,620
Emergency Services 64,511 1,120,476 631,127 56.3% 1,071,904 618,758 57.7% 76,880
Public Safety Comm. 248,820 3,245,860 1,774,574 54.7% 3,176,497 1,424,667 44.9% 598,727
Police Grants 331,146 1,227,879 454,008 37.0% 1,229,182 599,112 48.7% 186,042
P.B.I.A. (Parking & Bus Imp.) 21,823 237,170 147,738 62.3% 236,451 • 147,814 62.5% 21,747
Trolley 4,551 135,598 1,027 0.8% 135,277 5,424 4.0% 154
Front Street Bus Imp. Area 7,618 • 3,535 2,150 60.8% 5,000 0 0.0% 9,768
Cony Center (Tourist Promo) 178,564 1,374,500 653,352 47.5% 1,400,148 716,216 51.2% 115,700
PFD - Convention Center 169,918 621,750 321,136 51.7% 605,000 306,728 50.7% 184,326
Tourism Promotion Area 414. 378,205 150,785 39.9% 378,205 150,785 39.9% • • 414
Capitol Theatre 114,877 280,177 132,047 47.1% 285,527 161,756 56.7% 85,168
PFD - Capitol Theatre 23,857 467,960 241,620 51.6% 468,000 233,833 50.0% 31,644
Recovery Grants Program 0 426,989 171,714 40.2% 426,989 171,714 40.2% 0
Stormvvater Operating Fund 814,689 2,101,200 1,612,355 76.7% 2,225,207 1,015,063 45.6% 1,411,981
Transit 784,711 7,268,815 3,662,546 50.4% 7,342,066 3,717,505 50.6% 729,752
Refuse 348,088 4,869,500 2,286,925 47.0% 4,906,374 2,337,832 47.6% 297,181
Wastewater Operating 2,625,444 17,622,972 7,789,885 44.2% 18,830,905 9,374,293 49.8% 1,041,036
Water Operating 1,919 415 7,644,337 2,902,494 38.0% 7,895,628 3,839,776 48.6% 982,133
Irrigation 325,055 1,556,600 760,250 48.8% 1,541,669 894,371 58.0% 190,934
Equipment Rental 4,370,747 5,029,361 2,600,069 51.7% 5,166,318 2,571,702 49.8% 4,399,114
Environmental .602,021 .135,000 0 0.0% 485,934 57,441 11.8% 544,580
Public Works Admin. 348,803 1,185,331 592,155 50.0% 1,169,153 602,143 51.5% • 338,815
Total Other Operating Funds $14,809,872 $62,487,408 $29,204,480 46.7% $64,754,810 $30,659,027 47.3% .$13,355,325
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CAPITAL FUNDS
Table V represents the status of our Capital Construction and Capital Reserve Fund balance. The
activity in the capital funds is dependent on the scope and timing of projects; therefore, the percentage
comparison to budget is not expected to reflect the percentage of the year completed.
TABLE V
CAPITAL IMPROVEMENT FUNDS
2011 BUDGET VS. ACTUAL
Actual ----- - --- -- Revenue -- - - ---- - - --- -- Appropriations - ---- -- Ending
Beg Bal Amended Actual % Amended Actual % Balance
Fund 1/1/11 Budget Revenue Rec'd Budget Exp Exp'd 6/30/11
Arterial Street $517,311 $4,451,590 $460,734 10.3% $4,811,547 $563,104 11.7% $414,941
Central Bus District Capital 391,994 37,000 24,310 65.7% 132,264 31,168 23.6% 385,136
Capitol Theatre Construction 124,227 0 0 120,000 11,507 9.6% 112,720
Parks and Recreation Capital 203,296 1,400,000 25,000 1.8% 1,332,770. 140,047 10.5% 88,249
Fire Capital 253,164 791,588 393,973 49.8% 841,500 299,216 35.6% 347,921
Law and Justice Capital 330,557 845,422 427,497 50.6% 960,066 301,338 31.4% 456,716
Public Works Trust Const 865,818 578,000 271,519 47.0% 744,411 459,989 61.8% 677,348
REET 2 Capital 839,948 502,000 196,519 39.1% 1,236,822 553,187 44.7% 483,280 • •
Transit Capital Reserve 1,276,134 50,000 25,000 50.0% 521,556 408,180 78.3% 892,954
Stormwater Capital Fund 716,390 864,794 206,386 23.9% 1,024,794 19,231 1.9% 903,545
Convention Center Cap Impr 377,465 125,500 100,885 80.4% 525,143 118,165 22.5% 360,185
Reserve for Capital Impr 3,402,817 9,635,658 6,341,183 65.8% 10,872,978 4,828,553 44.4% 4,915,447
Wastewater Facilities Cap Res 628,016 150,500 142,205 94.5% 50,000 25,012 50.0% 745,209
Sewer Construction 5,012,921 1,386,000 568,000 41.0% 4,768,500 203,560 4.3% 5,377,361
Domestic Water Improvement 3,713,738 800,000 967,747 121.0% 3,702,000 277,725 7.5% 4,403,760
Wastewater Facility Project 3,142,560 14,000,000 860,500 6.1% 13,800,879 325,070 2.4% 3,677,990
Irrigation System Impr 844,248 3,208,500 600,747 18.7% 1,658,234 1,058,257 63.8% 386,738 •
Total Capital Impr Funds $22,640,604 $38,826,552 $11,612,205 29.9% $47,103,464 $9,623,309 20.4% $24,629,500
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RESERVE -FUNDS
0
Table VI illustrates the position of the City's Employee Benefit and Pension Reserve Funds.
• TABLE VI
RESERVE AND OTHER FUNDS
2011 BUDGET VS. ACTUAL
Actual ----- -- - - -- Revenue ----- ---- -- - - - - - -- Appropriations --- Ending
Beg Bal Amended Actual % Amended Actual % Balance
Fund 1/1/11 Budget Revenue Rec'd Budget Exp Exp'd 6/30/11
Employees Benefit Reserve
Unemployment Comp Res $355,464 $173,000 $89,582 51.8% . $312,477 $107,741 34.5% $337,305
Employees Health Benefit Res 2,537,960 10,489,085 5,029,332 47.9% 10,686,761 5,532,300 51.8% 2,034,992
Worker's Comp Reserve 1,177,333 1,109,008 533,816 48.1% . 1,352,030 623,491 46.1% 1,087,658
Wellness /EAP 147,368 60,000 0 0.0% 79,885 18,704 23.4% 128,664
Firemen's' Relief and Pension 774,349 1,572,265 867,852 55.2% 1,609,960 • 753,695 46.8% 888,506
Total Employees Benefit Res 4,992,474 13,403,358 6,520,582 48.6% 14,041,113 7,035,931 50.1% 4,477,125
Operating Reserves
Contingency 235,364 50,000 25,000 50.0% 200,000 56,563 28.3% 203,801
Capitol Theatre Reserve 381,765 500 11 2.2% 71,927 35,964 50.0% 345,812
Risk Management Reserve 901,099 9,540,000 2,416,984 25.3% 9,630,681 . 1,112,091 11.5% 2,205,992
Total Operating Reserve Funds 1,518,228 9,590,500 2,441,995 25.5% 9,902,608 1,204,618 12.2% 2,755,605
Other Funds
Cemetery Trust 592,099 13,500 6,942 51.4% 5,500 0 0.0% 599,041
Pass Through Grants ' 0 163,629 84,914 163,629 1,040 83,874
Note: The Employees Health Benefit, Worker's Compensation and Risk Management Reserve fund balances exclude an •
accrual for incurred but not reported claims.
Bond Redemption Funds
Table VII illustrates the financial position of the City's General Obligation and Revenue Bond Funds.
The timing of actual expenditures are a function of the terms of each bond and its related repayment
schedule. (One general obligation bondfund temporarily has a negative balance at the end of the
second quarter, because of the timing of the debt service payment in comparison to revenue collection).
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TABLE VII
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BOND REDEMPTION FUNDS
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2011 BUDGET VS. ACTUAL
Actual ---- - - - - -- Revenue --- - - - - -- - - - - - -- Appropriations - - - - - -- Ending
Beg Bal Amended Actual % Amended Actual % Balance
Fund - 1/11ll Budget Revenue Rec'd Budget Exp Exp'd 6/30/11
G.O. Bond Redemption
L.I.D. Guaranty 79,987 100 13 13.0% 0 0 80,000
1994 G.O. Ltd. -PD & Streets 109,820 512,000 311,998 60.9% 514,275 22,138 4.3% 399,680
1995 G.O. Street, Parks & Fire 191,674 293,000 159,491 54.4% 292,800. 18,900 6.5% 332,265
G.O. Line of Credit 0 114,000 0 0.0% 114,000 0 0.0% 0
1996 G.O. LTD -Cony Center 64,437 428,750 164,673 38.4% 426,753 60,876 14.3% 168,234
2002 G.O. Convention Center 165,804 1,018,896 512,448 50.3% 1,014,136 534,559 52.7% 143,693
2005 G.O. Parks & Rec Bond 6,191 986,989 493,695 50.0% 988,113 419,506 42.5% 80,380
L.I.D. Debt Service Control 25,243 274,000 122,843 44.8% 285,000 0 0.0% 148,086
Total G.O. Bond Red Funds 643,156 3,627,735 1,765,161 48.7% 3,635,077 1,055,979 29.0% 1,352,338
Water /Sewer Rev Bond Redemption
1997 Water Rev Bond Res 270,407 400 0 0.0% 0 0 270,407
1996 Revenue Bond Reserve 146,063 700 0 0.0% 0 0 146,063
Water /Sewer Revenue Bonds 114,128 545,107 272,353 50.0% 544,707 9,853 1.8% 376,628
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1997 Water Revenue Bonds 4,841 237,818 118,897 50.0% 237,793 33,897 14.3% 89,841
2008 Water /Sewer Rev Bond 0 411,614 205,806 50.0% 411,613 103,306 25.1% 102,500
2003 Wastewater Bond Red 3 1,348,707 674,354 50.0% 1,348,707 299,353 22.2% 375,004
2003 Irrigation Bond Red 35,436 319,234 159,617 50.0% 319,234 102,117 32.0% 92,936
Water /Sewer Rev Bond Res 970,200 1,000 0 0.0% 0 0 970,200
2003 Sewer Rev Bond Res 828,650 0 0 0.0% 0 0 828,650
Total W/S Rev Bond Red Funds $2,369,728 $2,864,580 $1,431,027 50.0% $2,862,054 $548,526 19.2% $3,252,229
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