HomeMy WebLinkAbout07/20/2010 19A Revenue and Expenditure Report for May, 2010 BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT ,
0 Item No. '
For Meeting Of July 20, 2010
ITEM TITLE: Revenue and Expenditure Report for May, 2010
SUBMITTED BY: Department of Finance & Budget
CONTACT PERSON/TELEPHONE: Cindy Epperson; Deputy Director of Accounting and
Budgeting -- 575 -6070
SUMMARY EXPLANATION:
The attached Tables I & II compare actual performance to Budget for the City's General Government
Funds, through May, for the years 2008, 2009 and 2010.
Notable Items
March was the last month that sales tax dropped from the previous year's remittance. The trend of sales
tax being less than the prior year actual extended for 18 months (from October 2008 through March
2010). Since April, the trend has turned, and we have 3 months of sales tax exceeding prior year actual,
although most months are still below 2007 levels --it appears that receipts may exceed the estimates
made in conjunction with the April cost containment measures, but none of those measures are proposed
to be lifted until more time passes and the new sales tax revenue trend is better established. The other
revenue shortfall identified in the April budget reduction plan is Natural Gas, which is substantially below
the prior year because of the extremely mild winter the valley experienced. Interest income, included in
the report as Miscellaneous Revenue, is below the prior year, but this was anticipated during the
0 development of the 2010 budget, and is not failing below projections. The payment for School Resource
Officers by the Yakima School District has not yet been billed because of recent contract modifications,
and is creating a timing difference in the Intergovernmental category.
Licenses and Permits have increased above both prior year and budget levels. As this revenue is tied to
future sales tax collections relating to construction activity, this is an indicator that sales tax may continue
on its recent slightly positive trend. Other revenues are performing as expected.
With the cost containment measures implemented in April to address the revenue shortfalls in sales tax
and natural gas utility tax, it appears that the General Govemment operations are maintaining a relative
balance of revenues to expenditures. As the 2011 budget development gets under way, the 2010
revenue and expenditure estimates will be more refined to determine the adequacy of reserve levels.
Resolution Ordinance Contract Other (Specify) Tables I and II
Funding Source: Not Applicable
APPROVED FOR SUBMITTAL: -\ „:
City Manager
STAFF RECOMMENDATION: Accept Report
BOARD /COMMISSION RECOMMENDATION:
IrCOUNCIL ACTION:
0 .
City of Yakima Table I
Page 1 of 2 General Government Resources _ - 41.7%
. 3 Year Comparison - May 2010 Year to Date of Year
General Fund Resources: 2008 2009 ' 2010
% Amended %
To -Date Rcvd To -Date Rcvd Budget To -Date Rcvd
Property Tax $4,131,604 56.4% $4,255,940 55.1% $8,523,000 $4,782,355 56.1%
Criminal Justice Sales Tax Inc .3% 680,093 41.9% 672,660 39.1% 1,682,000 658,149 39.1%
Criminal Justice Sales Tax 374,302 41.2% 375,278 38.2% 960,000 375,552 39.1%
Sales Tax 5,652,974 41.3% 5,286,942 38.0% 12,703,000 5,117,733 40.3%
Franchise Tax
Nob Hill Water Assn. - -2.0% 6,206 14:4% 12,670 26.6% 42,000 4,648 11.1%
Natural Gas -- (2.0% 2005) 0 0.0% . 0 0.0% 0 0 0.0%
Total Franchise Tax 6,206 14.4% 12,670 26.6% 42,000 4,648 11.1%
Utility Tax
. acificPower_-6.0% 1,610,604 53.5% 1,715,127 47.0% 3,816,000 1,717,855 45.0%
ob Hill Water Assn. - -14:0% 43,997 14.7% 89,436 27.1% 325,000 32,885 10.1%
Natural Gas -- 6.0% (4% 2005) 884,947 57.3% 1,178,069 88.0% 1,710,000 850,984 49.8%
Yakima Waste Systems - -10.0% 134,517 38.7% 103,768 33.5% 320,000 106,585 33.3%
Cellular Telephone -- 6.0% 581,911 49.6% 571,905 37.0% 1,570,000 598,751 . 38.1%
Telephone -- 6.0% 504,085 40.7% 367,336 32.2% 1,070,000 345,565 32.3%
Water -- 14.0% 268,833 29.7% 311,397 34.4 %, 980,000 312,015 .31.8%
Wastewater -- 14.0% 740,591 38.2% 769,084 38.8% 2,129,000 794,095 37.3%
Refuse -- 9.0% _. 144,149 38.9% 163,244 39.3% 420,000 ' 175,527 41.8%
Total Utility Tax - . - 4,913,634 45.3% 5,269,366 45.4% 12,340,000 4,934,262 40.0%
Business License Tax 495,101 99.0% 485,189 93.3% 520,000 476,672 91.7%
Gambling Tax 479,980 50.5% 503,262 54.0% 928,000 444,547 47.9%
Dangerous Bldg Tax Assessment 7,143 n/a 4,975 n/a 35,000 135 0.4%
Leasehold Excise Tax 1,161 580.5% 1,145 572.5% 4,000 (728) -18.2%
Total Taxes 16,742,198 46.7% 16,867,427 45.0% 37,737,000 16,793,325 44.5%
Police Federal Grants ' 43,290 16.3% 0 0.0% 135,000 0 0.0%
Fire Federal Grants 24,000 34.3% 15,000 25.0% 0 9,000
Criminal Justice. Funds 304,327. 71.7% 310,840 72.1% 640,000 333,704 52.1%
Liquor Excise Tax 201,741 51.3% 208,421 49.6% 405,000 214,835 53.0%
Liquor Profits 143,535 23.7% 139,786 22.6% 695,000 196,900 28.3%
School Dist. #7 Resource Officers 176,414 50.0% 181,806. 49.1% 370,440 0 0.0%
Other Intergovermental 198,956 40.9% 308,388 48.1% 715,968 426,201 59.5%
I Intergovernmental 1,092,263 42.1% 1,164,241 40.3 %_ 2,961,408 1,180,640 39.9%
erp 7/15/2010 Revenues Gen Gov- 2010.xls
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City of Yakima Table I
Page 2 of 2 General Government Resources 41.7%
3 Year Comparison- May 2010 Year to Date of Year
General Fund Resources (Contd.) 2008 2009 2010
Percent Percent Amended Percent
- To -Date Received To -Date Received Budget To -Date Received
Licenses and Permits $408,646 46.9% $256,392 31.5% $689,000 $357,077 518%
Charges for Service 1,994,305 44.6% 1,910,729 39.1% 4,914,680 2,008,508 40.9%
Fines and Forfeitures 676,325 49.1% 720,337 44.1% 1,736,900 752,513 43.3%
Misc. Revenue 500,864 53.0% 467,773 50.6% 511,294 225,833 44.2%
Non - Revenue 3,816 381.6% 115 11.5% 1,000 0 0.0%
Transfers From Other Funds 40,000 100.0% 0 0.0% 40,000 0 0.0%
Capital Lease Financing 0 0 0 0
Total General Fund Revenue $21,458,417 46.5% $21,387,014 43.9% $48,591,282 $21,317,896 43.9%
Beginning Balance 6,250,708 100.0% 6,798,731 100.0% 4,612,886 4,612,886 100.0%
Total General Fund Resources $27,709,125 52.8% $28,185,745 50.8% $53,204,168 $25,930,782 48.7%
Parks & Recreation Fund Resources:
Property Tax 938,816 52.2% 933,571 51.9% 1,788,500 953,281
Intergovernmental 49,101 28.1% 76,045 42.2% 147,700 68,801 li p
Charges for Services 374,378 41.0% 340,824 36.5% 946,365 457,221 48.3%
Misc. Revenue/Non- Revenue 70,702 35.7% 78,576 30.7% 247,420 74,431 30.1%
Transfers From Other Funds 216,646 19.6% 229,052 21.3% 1,117,000 232,281 20.8%
Total Parks/Rec. Fund Revenue $1,649,643 39.4% $1,658,068 39.1% $4,246,985 $1,786,015 42.1%
Beginning Balance • 549,439 100.0% 451,356 100.0% 339,555 339,555 100.0%
Total Parks/Rec. Fund Resources $2,199,082 46.4% $2,109,424 44.9% $4,586,540 $2,125,570 46.3%
Street/Traffic Fund Resources:
Property Tax 2,201,108 52.2% 2,237,459 51.9% 3,708,000 1,976,389 53.3%
County Road Tax 0 0.0% 0 0.0% 0 0 0.0%
Fuel Tax - Street 522,384 36.5% 483,649 35.8% 1,200,000 492,553 41.0%
Other Intergovernmental 0 0.0% 0 0.0% 0 0 0.0%
Charges for Services 6,407 40.7% 12,660 80.3% 215,760 7,881 3.7%
Misc. Revenue/Non- Revenue 11,125 18.5% 448 0.5% 105,050 46,180 44.0%
Total Street/Traffic Fund Revenue $2,741,024 47.9% $2,734,216 47.4% $5,228,810 $2,523,003 48.3%
Beginning Balance 1,386,069 100.0% 1,372,651 100.0% 1,461,266 1,461,266 100.0%
Total Street/Traffic Fund Resources $4,127,093 58.0% $4,106,867 57.5% $6,690,076 $3,984,269 59.6%
Total General Government Resources $34,035,300 52.9% $34,402,036 51.1% $64,480,784 $32,040,621 49.7%
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erp 7/15/201.0 Revenues Gen Gov- 2010.xls
City of Yakima Table II
General Government Summary of Operations 41.7%
3 Year Comparison - May 2010 Year to Date Of Year
2008 2009 2010
Rcvd Rcvd Amended Rcvd
To -Date Exp To -Date Exp Budget • To -Date Exp
General Fund -
Beginning Balance $6,250,708 $6,798,731 $4,612,886 $4,612,886
Revenues $21,458,417 46.5% $21,387,014 43.9% $48,591,282 $21,317,896 43.9%
Expenditures $18,385,602 37.9% $19,985,896 38.6% $50,251,506 $19,772,893 39.3%
Ending Balance • $9,323,523 $8,199,849 $2,952,662 $6,157,889
Parks and Recreation Fund
Beginning Balance $549,439 $451,356 $339,555 $339,555
Revenues $1,649,643 39.4% $1,658,068 39.1% • $4,246,985 $1,786,015 42.1%
penditures $1,477,267 33.4% $1,615,191 36.9% $4,218,655 $1,553,325 36.8%
Ending Balance $721,815 $494,233 $367,885 $572,245
Street/Traffic Fund
Beginning Balance $1,386,069 $1,372,651 $1,461,266 $1,461,266
Revenues $2,741,024 47.9% $2,734,216 47.4% $5,228,810 $2,523,003 48.3%
Expenditures $2,053,788 33.1% $2,553,660 42.0% $5,424,662 $2,288,093 42.2%
Ending Balance $2,073,305 $1,553,207 $1,265,414 $1,696,176
Total General Government
Beginning Balance $8,186,216 $8,622,738 $6,413,707 $6,413,707
Revenues $25,849,084 46.1% $25,779,298 43.9% $58,067,077 $25,626,914 44.1%
Expenditures. $21,916,657 37.1% $24,154,747 38.8% $59,894,823 $23,614,311 39.4%
Net General Government Balance $12,118,643 $10,247,289 $4,585,961 $8,426,310
erp 7/15/2010 Revenues Gen Gov- 2010.xls '