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06/19/2012 04C 1st Quarter 2012 Revenue and Expenditure Report 7 k BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT 1 Item No. 'IC For Meeting of: June 19, 2012 ITEM TITLE: 1st Quarter 2012 Revenue and Expenditure Report SUBMITTED BY: Michael Morales, Interim City Manager Cindy Epperson, Finance Director CONTACT Cindy Epperson, 576 -6771 PERSON /TELEPHONE: SUMMARY EXPLANATION: The attached report provides a comprehensive summary of the City of Yakima's 2012 budget and expenditure status through March 31, 2012. Overall, the 1st quarter activity reflects a stable, but guarded fiscal position within the context of the national recession and its slow recovery. General Government (i.e. tax supported) expenses are within budget estimates at 24.9% through March 31St, and General Government revenues are at 21.5% through this period, which is expected through the first quarter, as the major property tax distribution is received in April. The City's other operating and enterprise funds have generated revenues of 23.4% and expenditures of 21.1% of budget estimates through the first quarter of 2012. The national recession is continuing to restrict revenues. The 2012 budget was developed assuming revenue would remain flat. With this first look at 2012 activity, most revenue and expenditures are following trends. Included on this meeting's agenda is an appropriation for a few unanticipated expenditures, including: Costs related to hiring a new City Manager, and the cash -out for the Interim; Election costs that exceeded the original estimate; and a study for options related to jail facilities. Possible future appropriations include snow and ice control in response to a major snow event in January; and negotiated labor settlements. As comprehensive budget estimates are developed, we will have a clearer picture of 2012 trends and the need for an appropriation. The 2012 beginning balances used in this report are preliminary and may be affected by final year -end and /or audit adjustments; however, no material changes to these amounts are anticipated. Resolution Ordinance Other Report (specify) Contract: Mail to: Contract Term: Amount: Expiration Date: Insurance Required? No Funding Accept Report Phone: Source: APPROVED FOR SUBMITTAL: �* �j City Manager STAFF RECOMMENDATION: BOARD /COMMISSION RECOMMENDATION: ATTACHMENTS: Click to download ❑ Rev /Exp 1st Qtr Report 2012 MEMORANDUM JUNE 12, 2012 TO: The Honorable Mayor and Members of the City Council FROM: Michael Morales, Interim City Manager Cindy Epperson, Director of Finance & Budget SUBJECT: First Quarter 2012 Budget Revenue and Expenditure Report This report provides a comprehensive summary of the. City's financial status from January 1 through March 31, 2012. 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 first quarter budget status reflects a stable, but guarded fiscal position within the context of the national recession. As of this date, the 2012 amended City of Yakima Budget is $196,229,519 or $3,891,483 greater than the adopted 2012 Budget. The increase is due primarily to carry -over 2011 encumbrances of $3.2 million, and non - lapsing appropriations for the Upper Kiwanis Park construction project of $0.7 million. Additional appropriations have either already been presented or are tentatively scheduled for Council action. Typically, appropriation requests are brought forward if: Page 1 CJE /Finance Rev /Exp 1stQ trReport 06 /12/12 1) There has been a significant escalation in a cost that the operating funds are not able to absorb (i.e. election costs), 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 likely affect the future total City budget: ➢ Costs associated with the new City Manager contract and cash -out of Interim ➢ Election Costs ➢ Study for potential Jail expansion /other options • Snow and Ice removal from the City Streets ➢ Negotiated Labor Settlements The table presented below is a summary of the total city budget, summarized by fund types. Chart I CITYWIDE EXPENDITURE SUMMARY 2012 Variance Amended Actual as of Budget 3/31/2012 Amount Percent General $49,966,969 $12,268,083 $37,698,886 75 4% Parks and Recreation 4,000,697 833,790 - 3,166,907 79.2% Street 8: Traffic Operations 4,969,157 1,589,937 3,379,220 68.0% General Government Subtotal 58,936,823 14,691,810 44,245,013 75.1% Community Development 3,590,419 374,695 3,215,724 89.6% Utilities /Other Operating 62,755,222 13,644,787 49,110,435 78.3% Capital Improvement 39,649,900 2,660,892 36,989,008 93.3% G.O. Bonds/Notes 3,634,336 0 3,634,336 100.0% Water /Sewer Revenue Bonds 2,636,124 100,277 2,535,847 96.2% Employee Benefit Reserves 14,337,284 3,147,542 11,189,742 78.0% Operating Reserves 10,186,186 741,199 9,444,987 92.7% Trust and Agency Funds 503,225 17,985 485,240 96.4% Total $196,229,519 $35,379,187 $160,850,332 82.0% Page 2 CJE /Finance Rev /Exo 1stQ trReport06 /12/12 GENERAL GOVERNMENT RESOURCES The following chart identifies and compares General Government resources by major source through the first quarter for 2011 and 2012. As of March 31, 2012, total General Government resources which include actual beginning balances, are at $18,666,192 or 28.6% of the total 2012 budget. (This compares to a level of 28.4% for the same period in 2011.) Chart II GENERAL GOVERNMENT RESOURCES 2 YEAR COMPARISON 2011 2012 Percent Amended Actual Percent Actual Received Budget To -Date Received General Fund Taxes Property Tax $669,563 7.1% $9,934,000 $815,409 8.2% Criminal Justice Sales Tax Inc .3% 409,926 25.6% 1,645,500 423,382 25.7% Criminal Justice Sales Tax .1% 227,669 25.2% 930,000 251,302 27.0% Retail Sales and Use Tax 3,147,821 25.5% 12,550,000 3,199,792 25.5% Franchise Fees 2,718 6.5% 42,000 3,350 8.0% Utility Tax 3,151,988 26 4% 13,944,000 3,755,441 26.9% Business License Tax 443,691 87.0% 510,000 433,145 84.9% Gambling Tax 219,766 25.2% 871,000 211,109 24.2% Dangerous Bldg Tax Assessment 0 n/a 7,000 1,593 22.8% Leasehold Excise Tax (355) (8.9 %) 4,000 4,085 102.1% Total Taxes 8,272,787 22.0% 40,437,500 9,098,608 22.5% Intergovernmental Criminal Justice Funds 81,384 23.9% 425,000 139,704 32.9% Liquor Excise Tax 103,224 24.1% 231,500 107,890 46.6% Liquor Profits 168,678 26.8% 285,000 121,800 42.7% School Resource Officers 78,252 27.9% 419,898 0 0.0% Other Intergovernmental 274,924 39.4% 654,832 97,209 14.8% Total Intergovernmental 706,462 28.9% 2,016,230 466,603 23 1% Licenses and Permits 154,925 20.2% 616,700 186,465 30.2% Charges for Service 1,285,591 25.2% 5,079,930 1,329,183 26.2% Fines and Forfeitures 435,497 25.3% 1,645,700 433,295 26.3% Misc. Revenue 12,898 3.8% 333,550 65,923 19.8% Transfers From Other Funds 0 0.0% 40,000 0 0.0% Total General Fund Revenue 10,868,160 22.6% 50,169,610 11,580,077 23.1% Plus: Beginning Balance 4,480,899 4,602,311 4,602,311 Total General Fund Resources $15,349,059 29.2% $54,771,921 $16,182,388 29.5% Page 3 C JE /Finance Rev /Exp 1stQ Cr Report06 /12/12 2011 2012 Percent Amended Actual Percent Actual Received Budget To -Date Received Parks & Recreation Fund Property Tax $86,920 5 6% $1,578,000 $102,004 6.5% intergovernmental 18,678 17.3% 92,000 19,956 21.7% Charges for Services 172,858 17.9% 945,965 136,750 14.5% Misc. Revenue /Non- Revenue 42,900 18.0% 279,800 30,859 11.0% Transfers From Other Funds 225,120 19 1% 1,154,000 341,548 29.6% Total Parks/Rec. Fund Revenue 546,476 13.5% 4,049,765 631,117 15.6% Bea nning Balance 385,681 296,800 296,800 Total Parks /Rec Fund Resources $932,157 21 1% $4,346,565 $927,917 21.3% Streets & Traffic Funds Property Tax $197,228 5 6% $3,456,000 $223,400 6.5% Fuel Tax - Street 298,049 23 1% 1,300,000 296,014 22.8% Other Intergovernmental 2,314 0.0% 500 112 22.4% Charges for Services 56,128 26 0% 215,760 700 0.3% Mist Revenue/Non- Revenue 12,539 19.9% 83,050 26,701 32.2% Total Street/Traffic Fund Revenue 566,258 11 1% 5,055,310 546,927 10.8% Beginning Balance 1,088,323 1,008,960 1,008,960 Total Street/Traffic Fund Resources $1,654,581 26.8% $6,064,270 $1,555,887 25.7% Total General Government Resources $17,935,797 28 4% $65,182,756 $18,666,192 28.6% GENERAL FUND RESOURCES Property Tax receipts for the first three months of 2012 are $815,409 or 8.2% of this year's budget compared to $669,563 or 7.1% of last year's budget for the same period The flow of receipts to date depends on collection activity The first half assessment is due to the County by April 30. Yakima County Treasurer's Office estimates that we should collect between 96% and 97% of the current year levy, and 50% of the delinquent tax balance. 2011 actual results were within this range. Collections appear to be on target to meet this estimate Local Criminal Justice Sales Tax (General Fund) receipts through the first quarter are $423,382 or 25 7% compared to $409,926 or 25 6% at this time last year for the 0.3% Criminal Justice Sales Tax. The City's portion of the 0.1% sales tax is $251,302 or 27 0% of estimates to date, versus $227,669 or 25.2% at the same time last year. (See discussion on General Sales Tax below ) Sales tax receipts through March 31 are $3,199,792 or 25.5% of budget estimates compared to $3,147,821 or 25.5% at this time last year, representing an increase in revenues of 1.7% through the first quarter. The 2012 budget was set assuming a flattening of sales tax revenue (i.e. no growth), as the economy continued to flounder. The 1st quarter demonstrated a slight increase, and through Page 4 CJE /Finance Rev /Exp lstQ tr Report 06 /12/12 May, the year to date total is 2.0% better than the first 5 months of 2011. It should be noted that there is a two -month lag from the point of sale to our receipt of sales tax revenues. Franchise tax receipts of $3,350 through the first quarter are at 8.0% of budget estimates. The Water franchise fee is paid monthly, and picks up through the summer months as water usage increases for irrigation. Utility tax receipts through the first quarter are $3,755,441 or 26.9% for 2012 compared to $3,151,988 or 26.4% for the first three months of 2011. Most of the increase in the total from prior year of about $600,000 can be attributed to the implementation of the additional 6% tax for public safety purposes. This was estimated to generate an additional $2 million, which would make the quarterly estimate about $500,000. This is also an area affected by the underlying economy, as consumers practice water and energy conservation to save money. These taxes are functions of usage (which is heavily impacted by weather), rates, and the timing of billings. Business License receipts through the first quarter of 2012 are $433,145 or 84.9% compared to $443,691 or 87.0% for the first three months of 2011. Most of this revenue is collected at the beginning of the budget year, as this is an annual fee. Criminal Justice funds are performing as expected at $139,704 or 32.9% of budget. This area is substantially above prior year actual of $81,384 because of Yakima's status in relation to the High Crime funding. This is recalculated each year to be effective in the 3 quarter, and in 2011 the City's allocation was increased in July -- this increase was extended into the 2012 budget, but only for the first 2 quarters, as we may fall below the funding threshold when the formula is recalculated for 2012 -2013. These distributions are, therefore, being received as expected. The School Resource Officer reimbursement was not billed to the Yakima School District until early April for the 1st quarter activity, so there was no revenue received by March 31. The budget is the contracted amount to be received for this service. State Shared Revenue such as Liquor Excise of $107,890 is at 46.6 %, as are Liquor Profits of $121,800 or 42.7% because when our budget was being developed the state was working at balancing their own budget. One of the components that appeared to have legislative support was the elimination of these tax distributions for the last 2 quarters of 2012. This proposal was not approved in its entirety —the excise tax is being eliminated, however the profits will continue for the full year (with a slight change in the distribution formula). The gain is estimated to be about $300,000, and this will be included as revenue in the next appropriation ordinance. Overall, Total Intergovernmental revenues are $466,603 or 23.1% received through March 31, 2012. Most of this variance is due to the timing of billings /receipts. Licenses and Permits revenue is $186,465 or 30.2% of budget through the first quarter of 2012, compared with $154,925 or 20.2% of budget received in the same time in 2011, indicating an increase in construction activity. This category can fluctuate depending on the timing of permitting of large projects (such as the school improvement projects), and first quarter is typically lower activity. Because permits are the precursor to construction spending, this trend will be monitored for possible effects on future sales tax receipts. Page 5 CJE /Finance Rev /Exp 1stQtrReport06 /12/12 Miscellaneous Revenue consists primarily of interest earnings. Receipts of $65,923 are 19.8% of budget. This category is affected both by interest rates which are at historic lows, and the timing of payments. All other significant General Fund revenue sources are performing as expected. Beginning Balance The actual 2012 General Fund Beginning Balance is $4,602,311; $121,412 more than the 2011 final amended Beginning Balance of $4,480,899. The 2012 adopted budget reserved about $400,000 for potential budgetary impacts (such as additional downturn of revenue; potential labor settlements; and other escalation in operating costs) The encumbrance ordinance added about $200,000 to the expenditure budget. Therefore, at the end of the first quarter, budgeted revenues exceed budgeted expenditures by about $200,000 In contrast, $628,221 of Beginning Balance was obligated to balance the 2011 amended General Fund budget at this point in time. Total General Fund Resources equal $16,182,388 or 29.5% of budget through March 31, 2012. This compares with $15,349,059 or 29.2 %% of last year's budget resources through the first quarter of the year Summary Overall, General Government revenue is performing reasonably well in light of the national economic condition and is within budget tolerance. PARKS AND RECREATION FUND RESOURCES Parks and Recreation revenues of $631,117 are at 15 6% of budget estimates through the first quarter of 2012 This compares v'ith last year's resources to budget for three months of $546,476 or 13 5 %. Utility Tax receipts on City owned utilities amounting to $341,548 (29.6% of the 2012 estimate) have been transferred, to date, to the Parks Fund from the General Fund. The total revenue is below 25% becaiwe of the timing of Parks program activities (such as swimming, golf and softball) coupled with the Property Tax receipts, which aren't collected from the County until the second quarter STREET AND TRAFFIC OPERATIONS FUND RESOURCES Total Street Fund revenues are $546,927 or 10.8 %. Fuel tax receipts are $296,014 or 22.8% - as this is a per gallon tax, higher fuel costs continue to push down consumption. As of March 31, 2012 Property Tax, the major revenue category in .the Street Fund, is $223,400 or 6.5% of the total 2012 (as coo -pared to 5 6% for the same period last year) because of the timing of receipts. The following table identifies the begmning balance, revenues and expenditures to date, and the ending balance for each of the three General Government Funds. For 2012, at the end of the first quarter, the Cumulative General Government Revenue is $12,580,936 or 21.2% of budget compared to $11,980,894 or 21.0% at March 31, 2011. Page 6 COE /Finance Rev /Exp lstQ rReport 06 /12/12 Chart III GENERAL GOVERNMENT SUMMARY OF OPERATIONS 2 YEAR COMPARISON 2011 2012 Percent Amended Actual Percent Actual Received Budget To -Date Received General Fund Beginning Balance $4,480,899 $4,602,311 $4,602,311 Revenues 10,868,160 22.6% 50,169,610 11,580,077 23.1% Expenditures 11,602,649 23.9% 49,966,968 12,268,082 24.6% Ending Balance $3,746,410 $4,804,953 $3,914,306 Parks and Recreation Fund Beginning Balance $385,681 $296,800 $296,800 Revenues 546,476 13.5% 4,049,765 631,117 15.6% Expenditures 852,063 21.1% 4,000,697 833,790 20.8% Ending Balance $80,094 $345,868 $94,127 Street/Traffic Fund Beginning Balance $1,088,323 $1,008,960 $1,008,960 Revenues 566,258 11 1% 5,055,310 546,927 10.8% Expenditures 1,330,357 26.0% 4,969,157 1,589,937 32.0% Ending Balance $324,224 $1,095,113 ($34,050) Total General Government Beginning Balance $5,954,903 $5,908,071 $5,908,071 Revenues 11,980,894 21.0% 59,274,685 12,758,121 21.5% Expenditures 13,785,069 23.9% 58,936,822 14,691,809 24.9% Ending Balance $4,150,728 $6,245,934 $3,974,383 Even though revenues were more than prior year by $777,227 or 6.5 %, expenditures are above 2011 levels, and are $906,740 or 6.6% more than prior year. (Note: the expenditures include a major snow event that added about $300,000 to the Street budget in January). Therefore, at March 31, 2012, the net General Government Balance (beginning reserves plus current revenues less current expenditures) is slightly below, coming in at $3,974,383 compared to $4,150,728 in 2011. Page 7 CJE /Finance Rev /Exp 1stQ trReport 06 /12/12 GENERAL GOVERNMENT EXPENDITURES The following chart summarizes expenditure activity on a departmental basis for General Government budgets. Chart IV GENERAL GOVERNMENT EXPENDITURES 2012 BUDGET VS. ACTUAL 2012 2012 Unexpended/ Percent Amended Expenditures Uncommitted Spent Budget To 3/31/12 Balance Committed Police $23,970,559 $5,634,443 $18,336,116 23.5% Fire 9,167,083 2,158,155 7,008,928 23.5% Information Systems 2,510,845 619,058 1,891,787 24.7% Transfers To Other Funds 2,331,275 568,007 1,763,268 24.4% Financial Services 1,359,619 369,678 989,941 27.2% Utility Services 1,342,110 385,834 956,276 28.7% Municipal Court 1,256,587 284,892 971,695 22.7% Code Administration 1,208,765 293,578 915,187 24.3% Police Pension 1,186,350 353,961 832,389 29.8% Legal 1,127,361 255,999 871,362 22.7% Engineering 702,274 166,094 536,180 23.7% Planning 622,102 137,852 484,250 22.2% Purchasing 527,535 111,990 415,545 21.2% Indigent Defense 481,000 125,184 355,816 26.0% Records 476,422 286,695 189,727 60.2% Human Resources 449,628 112,607 337,021 25.0% City Hall Maintenance 357,016 153,016 204,000 42.9% City Manager 307,925 58,554 249,371 19.0% Intergovernmental 240,299 92,955 147,344 38.7% City Council 205,214 92,142 113,072 44.9% State Examiner 106,000 543 105,457 0.5% Urban Area Hearings Exam. 31,000 6,846 24,154 22.1% Total General Fund 49,966,969 12,268,083 37,698,886 24.6% Parks & Recreation Fund 4,000,697 833,790 3,166,907 20.8% Street & Traffic Ops. 4,969,157 1,589,937 3,379,220 32.0% Total General Government $58,936,823 $14,691,810 $44,245,013 24.9% Page 8 CJE /Finance Rev /E:p istQuReport06 /12/12 GENERAL FUND EXPENDITURES General Fund budget data of interest include: Police expenditures, $5,634,443 or 23.5% are below first quarter averages, due primarily to position vacancies, including the Chief. The 12 additional Police Officers authorized by Council are also a component of the vacancy savings, however, some of the supplies and equipment for the new staff was purchased in the 1st quarter. The entire budget for insurance /risk management is transferred to the Risk Management Fund in the first quarter, as the annual insurance premiums are due in this period. Fire expenditures of $2,158,155 are 23.5% of the 2012 budget through the first quarter. This saving is the result of the vacancy of the Deputy Chief, also offset partially by the full payment for risk management (as described above in the Police narrative.) Financial Services expenditures are at $369,678 or 27.2% because of cash -outs of two employees, including the Finance Director. Although the Director's position must be filled, there will be a position that will remain vacant for the rest of the year to cover this one -time cost. Utility Services has spent $385,834 or 28.7% of the 2012 budget, primarily because the annual maintenance cost on the new utility billing software is due in the 1st quarter. Municipal Court, Legal and Planning are respectively at 22.7 %, 22.7 %, and 22.2 %, of budget, due primarily to position vacancies and the timing of outside professional services. City Manager expenditures amount to $58,554 or 19.0% and are below first quarter averages primarily because of the timing of conference attendance and the Interim City Manager was at a lower pay scale than the previous manager. These savings, however, have been used on recruiting expenses which were unanticipated when the 2012 budget was adopted. With the pending arrival of the new City Manager and the resignation of the Interim, there will be additional costs that will be included in the next appropriation ordinance. Purchasing is at 21.2% of its 2012 budget, as their newly authorized position was vacant through the first quarter. Records expenditures of $286,695 or 60.2% include one -time payment of election costs of $186,750 and the cash -out of a long -term employee. The budget for elections is $150,000 - -this overage of $36,750 will be included in the next appropriation ordinance. The cash -out is planned to be covered by leaving a position vacant for as long as necessary. City Hall Maintenance expenditures are $153,016 or 42.9% of budget, primarily because the entire insurance payment of about $100,000 was made to the Risk Management fund to purchase property/boiler insurance in the first quarter. Intergovernmental expenditures of $92,955 are 38.7% because the City pays all of the Yakima County Emergency Management assessment in the first quarter. Page 9 CJE /Finance Rev /Exp 1stQtcReport06 /12/12 City Council pays the City's annual dues to the Association of Washington Cities in the first quarter Therefore, expenditures of $92,142 are 44 9% of budget at March 31, 2012 State Examiner only incurred incidental expenditures of $543 in the first quarter as the 2011 financial statement audit is lust in planning stages Urban Area Hearings Examiner expenditures to date are $6,846 or 22.1%, reflecting the number of cases heard and paid for as of March 31, 2012. All other General Fund Departments are close to the first quarter average of 25% Summary: In total, the General Fund is 24.6% expended through the first quarter, and is within authorized budget levels. The 2012 General Fund budgeted ending balance is projected to be $4,804,953 or about 9.6% of the budget before any appropriations previously discussed. PARKS AND STREETS EXPENDITURES Parks expenditures are at $833,790 or 20 8 %, and Street and Traffic Operations expenditures are at $1,589,937 or 32 0% to date. In both areas, many costs are seasonal in nature, and as the impact of summer recreation and parks maintenance programs is accounted for, the associated program costs should bring actual expenditure levels closer to budget by year -end The first quarter results for Streets and Traffic includes a major snow event that required about $300,000 more than budgeted, along with the full year of insurance charges. A future appropriation is likely, but we would like to see if there are savings in other areas to cover a portion of this expense Summary: Overall, General Government expenditures are within budget estimates — 24.9% through March 31, 2012. Even though this is within budget levels for a quarter of the year, several areas have been identified as requiring an additional appropriation and related use of reserves. As comprehensive budget estimates are developed and labor agreements are settled we will have a clearer picture of the need for an appropriation. Page 10 C JE I Finance Rev /Exp istQ a Repo, 06/12/12 OTHER OPERATING AND ENTERPRISE FUNDS The following chart represents the status of the Operating and Enterprise Funds. Chart V OTHER OPERATING / ENTERPIISE FUNDS 2012 BUDGET VS. ACTUAL Actual Revenue Appropriations Ending Beg Bal Amended Actual % Amended Actual % Balance Fund 1/1/2012 Budget Revenue Recd Budget Exp Exp'd 3/31/2012 Economic Development $224,342 $272,000 $53,197 19.6% $351,636 $64,807 18.4% $212,732 Neighborhood Development 269,747 3,559,555 229,967 6.5% 3,590,419 374,695 10.4% 125,019 Community Relations 848,564 494,950 119,388 24.1% 594,554 132,934 22.4% 835,018 Cemetery 44,671 243,550 30,973 12.7% 265,699 68,552 25.8% 7,092 Emergency Services 78,012 1,196,026 99,030 8.3% 1,199,489 232,943 19 4% (55,901) Public Safety Comm 595,530 3,402,343 913,721 26.9% 3,495,804 886,689 25.4% 622,562 Police Grants 269,417 1,226,030 213,479 17 4% 1,174,399 245,995 20.9% 236,901 P.B.I.A. (Parking & Bus Impr) 19,134 251,340 64,452 25.6% 235,962 27,735 11.8% 55,851 Trolley 16,360 65,229 1,618 2.5% 75,021 682 0.9% 17,296 Front Street Bus Impr Area 6,922 3,535 1,151 32.6% 6,298 18 0.3% 8,055 Cony Center (Tourist Promo) 231,222 1,443,450 201,005 13.9% 1,447,373 370,525 25.6% 61,702 PFD- Convention Center 214,099 645,750 175,246 27.1% 719,000 3,423 0.5% 385,922 Tourism Promotion Area 414 586,000 98,410 16.8% 586,000 68,358 11.7% 30,466 Capitol Theatre 97,690 324,177 60,182 18.6% 346,200 118,856 34.3% 39,016 PFD- Capitol Theatre 43,113 500,500 132,579 26.5% 517,000 129,673 25.1% 46,019 Recovery Grants Program 0 73,905 0 0.0% 73,905 0 0.0% 0 Stormwater Operating Fund 1,052,283 2,035,000 275,602 13.5% 2,243,246 360,206 16.1% 967,679 Transit 895,787 7,302,972 1,821,011 24.9% 7,697,953 2,293,655 29.8% 423,143 Refuse 475,146 5,280,524 1,379,471 26.1% 5,410,763 1,204,864 22.3% 649,753 Wastewater Operating 374,850 19,015,988 5,110,854 26.9% 19,437,140 3,599,482 18.5% 1,886,222 Water Operating 2,015,479 8,138,769 1,947,668 23.9% 8,226,296 1,742,672 21.2% 2,220,475 Irrigation 357,765 1,618,700 511,565 31.6% 1,444,937 540,970 37 4% 328,360 Equipment Rental 4,619,613 5,547,333 1,372,883 24.7% 5,743,730 1,219,234 21.2% 4,773,262 Environmental 431,611 150,000 0 0.0% 277,339 1,732 0.6% 429,879 Public Works Admin. 407,489 1,185,331 296,067 25.0% 1,185,478 330,782 27.9% 372,774 Total Other Operating Funds $13,589,260 $64,562,957 $15,109,519 23 4% $66,345,641 $14,019,482 21.1% $14,679,297 The Economic Development Fund has a fund balance of $212,732 at March 31. Revenues amount to $53,197 or 19.6 %; while expenditures are at $64,807 or 18.4% of budget. The savings are a result of the timing of the deployment of professional services, and position vacancies. The Community Development Fund shows a fund balance of $125,019 at the end of the first quarter. Revenues are at $229,967 or 6.5% of budget, while expenditures are $374,695 or 10.4% of budget. The budget includes about $1.7 million of program carryover from the prior year (primarily for single family home rehabilitation programs). The 2012 HUD grants have not yet been awarded (even though estimates were included in the 2012 budget), so program expenses are still using primarily. the carried forward funds. Page 11 CJE /Finance Rev /Exp lstQ tcReport06 /12/12 Community Relations Fund revenues are $119,388 or 24.1% of budget through the first quarter. Expenditures are $132,934 or 22.4 %, a function of the timing of capital purchases; resulting in a fund balance of $835,018 at March 31 representing primarily an accumulation of capital grant proceeds. Cemetery Fund revenues are $30,973 or 12.7% of budget through the first quarter, as the transfers of interest earnings from the Cemetery Trust fund and Parks and Recreation have not yet been made. Expenditures are $68,552 or 25.8 %, as all of the insurance premium was transferred to the Risk Management Fund m the 1st quarter. The fund balance at March 31 is $7,092. Emergency Services Fund revenues are $99,030 or 8.3% of budget and expenditures are $232,943 or 19.4%, of budget through the first quarter. The fund balance at March 31, 2012 is ($55,901). The revenue source is a special voter- approved property tax, with the first half due in the second quarter, so that the balance is currently negative pending the April tax receipts. Public Safety Communications Fund revenues are $913,721 or 26.9% of budget and expenditures are $886,689 or 25.4 %, slightly above the first quarter target because of timing of equipment purchases. The March 31 fund balance is $622,562. Police Grants fund was opened in 2009 in order to account for narcotics forfeitures upon the dissolution of the City- County Narcotics Unit (CCNU), and the new federal ARRA police - related operating grants. Both of these programs have extensive tracking /reporting requirements, so that isolating the programs outside of General Fund will assist in accounting for applicable expenditures. Revenues in 2012 were $213,479, below estimates due to the timing of grant reimbursements. Grant /program expenditures were $245,995 or 20.9% of budget, leaving $236,901 as a fund balance. PBIA (Parking and Business Improvement) assessments and collections follow quarterly cycles. Revenues are at $64,452 or 25 6% and expenditures are $27,735 or 11.8% of budget, as the existing contract for services in the downtown expired at the end of 2011, and the new contract was being developed A minimal maintenance program was approved to continue until the new contractor is on board. The fund balance at March 31 is $55,851. Trolley (Yakima Interurban Lines) Operating Fund revenues are $1,618 and expenditures are $682 or 0.9 %. The majority of the revenue and expense budgets are a grant to upgrade the trolley facilities, and this project only incurred minor expenses in the first quarter. The balance at March 31 is $17,296 Front Street Business Improvement Area revenues are $1,151 or 32.6 %, with expenditures of $18. The fund balance is $8,055. Convention Center (Tourist Promotion) Fund revenues of $201,005 are presently at 13.9% of budget. Expenditures are $370,525 or 25.6% of budget. The balance at March 31 is $61,702. Historically, the first quarter revenues are lower than the rest of the year, because of the slowdown in convention business and Hotel/Motel tax generated during the winter months. However, revenues are expected to steadily increase as the year progresses because of scheduled convention center business. Page 12 CJE / Fniance Rev /Exp 1stQ tr Report06 /12/12 Public Facilities District Fund - Convention Center realized revenues of $175,246 — 27.1% of the 2012 budget. Expenditures totaled $3,423 — 0.5% of budget, as the transfer to the related debt service fund was not yet required. The ending fund balance is $385,922. Tourism Promotion Area Fund receipts are $98,410 or 16.8% of the 2012 budget. Expenditures total $68,358 or 11.7 %. Like hotel /motel tax, the tourism promotion fee is lowest in the first quarter through the winter months. All fees collected are forwarded by contract to the Yakima Valley Visitors' and Convention Bureau for promotion emphases. The ending balance at March 31, 2012 is $30,466. Capitol Theatre Fund revenues are $60,182 or 18.6% of budget, as a capital transfer was postponed into the 2 quarter. Expenditures of 118,856 are at 34.3 %, a function of the timing of major maintenance projects and full insurance payments in the first quarter. The fund balance at March 31 is $39,016. Public Facilities District - Capitol Theatre experienced revenues of $132,579, or 26.5% of budget for the first quarter of 2012. Expenditures are $129,673 or 25.1% of budget, leaving a fund balance of $46,019 at March 31. Recovery Grants Program Fund was reactivated to account for Federal ARRA grants that cross fund /functional boundaries. The City was awarded a Department of Energy grant for conservation efforts. The remaining projects were being designed, so there was no activity in the 1st quarter. Stormwater Operating Fund revenues are $275,602 or 13.5% of budget. As this is included on the property tax bill, a majority of the revenue will be collected in the April/May timeframe. Expenditures are $360,206 or 16.1% of budget, because the transfers for capital and program repayment to Wastewater and Streets funds are being timed to occur after the revenue collection. The fund balance at March 31 is $967,679. Transit operations completed the first quarter of 2012 with revenues totaling $1,821,011 or 24.9% of budget, which exclude the federal grant, and expenditures at $2,293,655 or 29.8 %. (As noted in other narratives, the entire insurance transfer is made in the first quarter.) The operating fund balance at March 31 is $423,143. Refuse expenditures are $1,204,864 or 22.3% of the budget through March 31, 2012. This is below scheduled levels because of the timing of payments for landfill charges (only two months are included.) Total revenues are at $1,379,471 or 26.1 %. The fund balance at March 31 is $649,753. Wastewater Operating Fund revenues are $5,110,854 or 26.9% of estimated levels, while expenditures are at $3,599,482 or 18.5% of budget due primarily to the timing of transfers to capital /debt service funds. The fund balance at March 31 is $1,886,222. Water Operating Fund revenues of $1,947,668 to date equal 23.9% of budget estimates, and reflect the timing of billing cycles and historically lower water usage in the winter months. Expenditures are at $1,742,672 or 21.2 %, also a function of the timing of capital /debt service transfers. The fund balance at March 31 is $2,220,475. Page 13 CJE /Finance Rev /Exp lstQ tr Report 06 /12/12 Irrigation Fund revenues are at $511,565 or 31.6% of budget estimates Expenditures are $540,970 or 37.4% through the first quarter — ditch charges and insurance contributions are paid in the first quarter. The fund balance at March 31 is $328,360. The Equipment Rental Fund shows revenues of $1,372,883 or 24.7% of budget estimates. Expenditures are at $1,219,234 or 21.2 %, a function of the timing of capital purchases The fund balance at March 31 is $4,773,262. Environmental Fund expenditures are.$1,732 or 0 6% of budget. The fund balance at March 31 is $429,879. This fund's revenue comes in primarily at the end of the year, while expenditure timing is related to project status. Public Works Administration revenues are $296,067 or 25.0% of budget through the first quarter, and expenditures are $333,782 or 27.9% of budget over the same time period. As mentioned in other discussions, the insurance contribution is paid in the first quarter. The fund balance at March 31 is $372,774. Summary: In total, Other Operating and Enterprise Funds have generated revenues of $15,109,519 or 23.4 %, while expenditures are at $14,019,482 or 21.1% of budget estimates through the first three months of 2012. These results are in similar ratios to the first quarter of the prior year. Page 14 C JE /Finance ReviExp 15tQtrReport 06 /12/12 CAPITAL FUNDS The following chart 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 capital projects; therefore, the first quarter percentage comparison to total budget is not expected to reflect the percentage of the year completed. Chart VI CAPITAL IMPROVEMENT FUNDS 2012 BUDGET VS. ACTUAL Actual Revenue Appropriations Ending Beg Bal Amended Actual % Amended Actual % Balance Fund 1/1/2012 Budget Revenue Recd Budget Exp Exp'd 3/31/2012 Arterial Street $496,057 $4,437,351 $340,723 7.7% $4,554,478 $134,660 3.0% $702,120 Central Bus District Capital 359,114 39,200 6,281 16.0% 132,277 7,725 5.8% 357,670 Capitol Theatre Construction 1,820 0 0 n/a 0 0 n/a 1,820 Yakima Redevelopment Area 754,876 850,000 186,849 22.0% 850,000 167,637 19.7% 774,088 Parks and Recreation Capital '77,274 710,000 0 0.0% 764,816 89,654 11.7% (12,380) Fire Capital 409,661 126,072 13,813 11.0% 347,722 54,187 15.6% 369,287 Law and Justice Capital 254,340 737,125 95,298 12.9% 962,915 233,922 24.3% 115,716 Public Works Trust Constr 753,127 548,906 85,288 15.5% 718,382 66,067 9.2% 772,348 Rl:h1 2 Capital 372,975 452,000 85,288 18.9% 506,822 0 0.0% 458,263 Transit Capital Reserve 1,102,129 595,000 8,360 1 4% 685,000 21,932 3.2% 1,088,557 Stormwater Capital Fund 1,101,747 244,794 49,810 20.3% 433,000 9,198 2.1% 1,142,359 Convention Center Cap Impr 419,440 226,500 76,151 33.6% 216,934 78,248 36.1% 417,343 Reserve for Capital Impr 3,308,925 6,067,166 197,946 3.3% 8,917,000 124,690 1.4% 3,382,181 Wastewater Facilities Cap Res 738,547 150,500 3,525 2.3% 50,000 6,067 12.1% 736,005 Sewer Construction 5,387,653 2,850,000 0 0.0% 3,800,000 128,421 3.4% 5,259,232 Domestic Water Improvement 3,374,809 4,600,000 112,860 2.5% 4,450,000 32,563 0.7% 3,455,106 Wastewater Facility Project 3,466,727 6,121,000 303,854 5.0% 8,145,000 861,730 10.6% 2,908,851 Irrigation System Impr (408,465) 2,708,500 1,193,753 44.1% 4,115,554 644,191 15.7% 141,097 Total Capital Impr Funds $21,970,756 $31,464,114 $2,759,799 8.8% $39,649,900 $2,660,892 6.7% $22,069,663 Several projects are approaching the construction phase in the Arterial Street Fund. $4,554,478 is budgeted for construction projects during 2012 - the major projects being widening of Nob Hill Blvd. between 49th and 64th Ave, and improvements on 64th Avenue between Nob Hill and Tieton. Revenue through March is $340,723 or 7.7% of budget. Expenditures, which are based on an approved project prospectus,' are $134,660 or 3.0% of budget - -the major projects are still in planning stages. The fund balance at March 31 is $702,120. The Central Business District (CBD) Capital Fund provides resources for CBD studies and capital projects. More recently, the $50,000 City contribution for downtown maintenance comes from this fund. The balance at March 31 is $357,670. Revenues of $6,281 represent 16.0% of budget, consisting solely of monthly parking permits, while expenditures to date are $7,725 or 5.8 %. The Capitol Theatre Construction Fund expenditures are $0 as the expansion project is completed. There are no revenues anticipated. The fund balance at March 31 is $1,820. Page 15 C JE /Finance Rev /Exp 1stQ tr Report 06/12 /12 The Yakima Redevelopment Area (LIFT) had expenditures of $167,637 or 19.7% for the planning and preliminary engineering of infrastructure in the Area. Revenues are $186,849 or 22.0% for the first quarter, representing the state sales tax credit. The ending fund balance is $774,088. Parks and Recreation Capital Fund expenditures are at $89,654 or 10.9% of budget, while there has been no revenue to date The major project included in the 2012 budget is the development of upper Kiwanis Park. The balance at March 31 is ($12,380), pending a draw on an interfund loan recently approved by Council Fire Capital Fund expenditures through the first quarter of 2012 are at $54,187 or 15 6% consisting primarily of a command vehicle replacement and planned station repairs. Revenues of $13,813 or 11.0 % have been received The balance at March 31 is $369,287 Law and Justice Capital Fund revenues to date are $95,298 or 12.9% and expenditures are $233,922 or 24.3% of_budget, the function of the timing of grant related expenditures and reimbursements. The fund balance at March 31 is $115,716. The Public Works Trust Construction Fund was created to accumulate revenue received and to track capital projects, including those associated with the State Public Works Trust Loan Program. Revenue of $85,288 or 15 5% of budget has been received through the first quarter, and include the first quarter percent Real Estate Excise Tax. The softening of the real estate market has caused a marked drop in this revenue from 2008 levels However, the first quarter is 20% ahead of 2011. As the first quarter is historically lower, this revenue is still anticipated to meet or exceed the budget. Expenditures of $66,067 or 9.2% of budget were made through the same period. The fund balance at the end of the first quarter is $772,348 Loan payments and related transfers from other funds are due in the second quarter. File Real Estate Excise Tax -- Second quarter percent (REET 2) Capital Construction fund is used to account for the second quarter percent Real Estate Excise Tax (REET 2) Through the first quarter, $85,288 or 18 9% of the revenue budget has been received. No expenditures were made through the same period. (See the discussion for the Public Works Trust Construction Fund above) The fund balance at March 31, 2012 is $458,263. The Transit Capital Reserve Fund has a current fund balance of $1,088,557. This represents the reserve that the City Council has directed be set aside to provide funds for capital projects and equipment. Expenditures are at $21,932 or 3.2 %, consisting primarily of equipment purchases. $8,360 in revenues have been received during the first quarter. (All Transit sales tax goes into the operating fund until the grant is drawn down.) The Stormwater Capital Fund has a current fund balance of $1,142,359. The revenue budget consists of a transfer from -the operating fund, which isn't made until after the property tax collection in May, and a grant which paid out $49,810 in this quarter. The expenditure budget is $433,000 for the study, design and build -out of stormwater capital projects. As of March 31, there has been a total of $9,198 or 2.1 %, in expenditures. The Convention Center Capital Improvement Fund reflected a balance of $417,343 in the Convention Center Reserve at the end of the first quarter of 2012. Revenues were $76,151 or 33.6% Page 16 CJE /Finance Bev /Exp 1stQts Report 06/12/12 of budget. Expenditures are $78,248 or 36.1% to date, as the capital projects are in various stages of completion. At the end of the first quarter the Cumulative Reserve for Capital Improvement Fund shows a balance of $3,382,181. Expenditures are $124,690, 1.4% of budget, with revenues of $197,946 or 3.3% to date. The major project budgeted in this fund is the Railroad Grade Separation, which is nearing the end of construction. As this is a large project to be funded primarily by reimbursable grants, a Public Works Trust Fund loan was obtained to provide cash flow during the interim times between project payments and the receipt of grant reimbursements, as a portion of this revenue source can be drawn in advance of actual cash disbursements. The purpose of the Wastewater Facilities Capital Reserve Fund is to provide resources for contingency modifications at the Wastewater Treatment Plant. Revenues of $150,500 are estimated for 2012 and will be generated primarily from Sewer Operating Fund contributions, Sewer Service Agreements with Union Gap and Terrace Heights, and investment income. To date, $3,525 or 2.3% of budgeted revenues have been received. Planned expenditures of $50,000 in 2012 are for miscellaneous capital improvements -- there have been $6,067 in expenditures to date. The fund balance at March 31 is $736,005. The Sewer Construction Fund provides principally for offsite system improvements such as new interceptor and trunk line extensions. Revenue consisting primarily of capital transfers from the operating fund is budgeted at $2,850,000 with no actual revenue to date. $3,800,000 is presently budgeted for sewer system planning and improvement, with the major projects being the Speedway/Race Street interceptor, implementing an automated meter reading system, and a sewer trunk line in the Congdon annexation area. Actual expenditures at the end of the first quarter amounted to $128,421 or 3.4 %. The fund balance at March 31 is $5,259,232. Expenditures are $32,563 or 0.7% through the first quarter in the Domestic Water Improvement Fund. The major projects in the 2012 budget of $4,450,000 are lagoon improvements at the Water Treatment Plant and an automated meter reading system. Revenues are budgeted to be $4,600,000 and include two Public Works Trust Fund loans, and a transfer from the operating fund. As of March 31, revenue was $112,860 or 2.5% because of the timing of the contribution from the operating fund, therefore, the ending balance was $3,455,106. The Wastewater Facility Project Fund ended first quarter 2012 with a fund balance of $2,908,851. For 2012, budget expenditures of $8,145,000 are anticipated to continue construction of capital improvements mandated by NPDES permit requirements. Actual expenditures through the first quarter of 2012 are $861,730 or 10.6% and revenues are $303,854 or 5.0% of budget, the result of timing of operating fund contributions, and other revenue such as proceeds from state loans. The Irrigation System Improvement Fund revenues through the first quarter of 2012 amount to $1,193,753 or 44.1 %, as an interfund loan was made to cover the construction costs made during the winter construction season. $644,191 or 15.7% has been expended for system repairs, leaving a fund balance of $141,097, consisting mainly of accumulated capital contributions. Page 17 CJE /Finance Rev /Exp 1stQ trReport 06 /12/12 RESERVE FUNDS The following chart illustrates the position of the City's Employee Benefit Reserves, Operating Reserves, and Other funds. Chart VII RESERVE FUNDS 2012 BUDGET VS. ACTUAL Actual Revenue Appropriations Ending Beg Bal Amended Actual T. Amended Actual % Balance Fund 1/1/2012 Budget Revenue Rec'd Budget Exp Exp'd 3/31/2012 Employee Benefit Reserves Unemployment Comp Res $327,790 $173,000 $42,674 24.7% $318,064 $9,475 3.0% $360,989 Employees Health Ben Res 1,908,1 68 11,243,185 2,572,357 22.9% 11,219,378 2,578,128 23.0% 1,902,397 Worker's Compensation Res 1,054,247 1,114,600 251,376 22.6% 1,363,785 190,982 14.0% 1,114,641 W ellness/BAP 122,646 60,000 0 0.0% 92,000 10,104 11.0% 112,542 Firemens' Relief and Pension 793,181 1,387,500 85,003 6 1%, 1,344,057 358,853 26.7% 519,331 Total Employee Ben Reserve $4,206,032 $13,978,285 $2,951,410 21.1% $14,337,284 $3,147,542 22.0% $4,009,900 Operating Reserves Contingency $242,751 $50,000 $0 0.0% $200,000 $0 0.0% $242,751 Capitol Theatre Reserve 313,849 500 0 0.0% 71,927 0 0.0% 313,849 Risk Management Reserve 848,892 9,961,000 2,607,813 26.2% 9,914,259 741,199 7.5% 2,715,506 Total Operating Reserve $1,405,492 $10,011,500 $2,607,813 26.0% $10,186,186 $74I,199 7.3% $3,272,106 Other Funds Cemetery Trust $604,420 $16,500 $1,861 11.3% $5,500 $0 0.0% $606,281 Pass Through Grants 42,113 526,756 359,030 68.2% 497,725 17,985 3.6% 341,045 Total Other Funds $646,533 $543,256 $360,891 66 4% $503,225 $17,985 3.6% $947,326 Note: The Employees Health Benefit, Worker's Compensation and Risk Management Reserve fund balances exclude an accrual for incurred but not reported claims. EMPLOYEE BENEFIT RESERVES The Unemployment Compensation Reserve is used to pay unemployment claims filed by former employees. Through the first quarter, the City had actual expenditures amounting to $9,475 or 3 0% of the 2012 budget, since first quarter claims are paid to the State in April. Revenue, which is primarily from pro- rations to City operating departments, is $42,674 or 24.7% through the first quarter. The current reserve balance is $360,989. The City operates a self- insured program. The Employees Health Benefit Reserve pays for group medical and dental claims for covered City employees and eligible dependents. Revenues for this fund are primarily generated from monthly charges for each covered employee which are paid by operating budgets through assessments, and through payments from active and retired employees and other persons who are entitled to participate in the City's health benefit plan. Actual revenues through the first quarter were $2,572,357 or 22.9% while expenditures of $2,578,128 or 23.0% were experienced, so that the fund virtually broke even. The current fund balance is $1,902,397, before considering a minimum 15% reserve of approximately $1.4 million. Page 18 C J£ , Finance Rev /Exp 1stQtrReport06 /12/12 The Worker's Compensation Reserve provides for payment by the City of industrial insurance medical claims and time loss payments for City employees who are injured while performing their assigned duties. Through the first quarter, expenditures were $190,982 or 14.0% of budget. Revenues, billed on an interfund basis, are at $251,376 or 22.6 %. The March 31, 2012 fund balance is $1,114,641 on a cash basis, without considering the claims reserve of about $0.7 million. The Wellness /Employee Assistance Program fund expenditures during the first quarter were $10,104 or 11.0% of budget, leaving a balance of $112,542 at March 31, 2012. Revenues are recorded at the end of the year as medical insurance savings from vacant positions. Firemen's' Relief and Pension expenditures are at $358,853 or 26.7% of budget through March 31, 2012. Revenue to date, which is largely dependent upon the flow of property tax receipts, is $85,003 or 6.1 %. The first quarter balance is $519,331. OPERATING RESERVES The General Contingency Fund has a $242,751 balance at March 31, 2012. The Capitol Theatre Reserve is programmed to transfer $71,927 consisting of interest income and the cash reserve to the Capitol Theatre Operating Fund to help support the major capital maintenance program of the theatre. The fund balance as of March 31 is $313,849. The Risk Management Reserve provides for payment of liability insurance and litigation defense through an internal service fund. The Reserve is funded by allocations from the various operating funds of the City transferred at the beginning of the year, and interest earned by the fund. Revenue to date amounts to $2,607,813 or 26.2% of budget. Expenditures, which encompass payment of the City's annual premiums for liability, property and miscellaneous coverages; broker fees; and legal services are $741,199 or 7.5% of budget. The $7 million clean-up project at the mill redevelopment site has not yet begun. The cash balance at March 31 is $2,715,506 without considering the liability for incurred but unpaid claims of about $0.6 million. Page 19 CJE /Finance Rev /Exp 1stQtrReport06 /12/12 BOND REDEMPTION FUNDS The following chart 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 sute_lute -most bond principal payments are due in the last quarter of the year. Any negative balances are only temporary timing differences -a debt service payment was paid prior to a transfer from the appropriate operating fund. Chart VIII BOND REDEMPTION FUNDS 201.2 BUDGET VS. ACTUAL Actual Revenue -- Appropriations Ending Beg Bat Amended Actual % Amended Actual Balance Fund 1/1 /2012 Budget Revenue Rec'd Budget Exp Exp'd 3/31/2012 G.O Bond Redemption - L.I.D. Guaranty $80,089 $ $0 0.0% $0 $0 $80,089 1994 0 O Ltd-Police & SI reets 107,541 512,000 99,999 19.5% 515,175 0 0.0% 207,540 1995 0.0 Street, Parks & Fire 19(1,513 293,000 21,613 7 4% 293,875 0 ((.951 212,126 G O. Line of Credit 0 114,000 0 0.0% 114(100 0 ( 1.0% 0 1998 0.0 Ltd -Cony Center 66,435 428,750 66,631 15.5% 430,315 0 0.0% 133,066 2002 G.0 Convention Center 170,563 1,019,594 112,500 11.0% 1,018,253 0 0 0% 283,063 2005 G.O Parks and Rec Bond 5,467 986,989 0 0.0% 977,718 (I 0.0% 5,467 LID Debt Service Control 47,350 274,000 73,487 26.8% 285,000 0 0.0% 120,837 Total G 0 Bond Redemption $667,958 $3,628,383 $374,230 10.1% $3,634,336 80 0.0% $1,042,188 Water /Sewer Revenue Bond Redemption 1997 Water Rev Bond Res $270,807 $400 $0 0.0% SO $0 n/a $270,807 1996 Revenue Bond Reserve 1.46,763 700 0 0.0' %6 0 0 n/a 146,763 Water /Sewer Revenue Bonds 114,523 0 0 n/a 0 0 0/a 114,528 1997 Water Revenue Bonds 4,866 234,725 0 0.0% 234,700 0 (1.0% 4,866 20081 'later /See, cr Rev Bond 0 413,413 0 (1.11% 413,413 0 0.0% 0 20(13 Wastewater bend Red 4 1,3- 17,457 0 0.0% 1,347,457 0 n.0^'. 4 ° 2003 Irrigation Bond Red 35,136 640,554 0 0.0"4, 640,554 100,277 15.7% (64,841) Water /Sewer Rev Bend Res 971,200 1,000 0 0.0% 0 0 n/a 971,200 2003 dewcr Rev Bond lies 828.6D0 0 0 n/a 0 0 n/a 828,650 Total W/S Rev Bond Red 82,3 $7,638,249 $0 0.0% $2,6.36,124 5100,277 3.8;x, $2,271,977 Page 20 CJE /Friance Rev /Exp 1st() wRepoe706 /12/12