LTC 048-2009 Analysis of Budget to Preliminary Actual Revenues & Expenses for FY ending 9/30/08m MIAMIBEACH
~'~'.~:
OFFICE OF THE CITY MANAGER FEB 2r~ ~~ ~, k'
NO. LTC #048-2009 LETTER TO COMMISSf~~I
CITY CL~_I~;l.i=~ C. I"!CE
TO: Mayor Matti H. Bower and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manager
DATE: February 20, 2009
SUBJECT: ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL
YEAR ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
The Purpose of this LTC is to provide the preliminary actual revenue and expenses for the
Fiscal Year ending September 30, 2008. The year-end budget to preliminary actual
comparisons for General, Enterprise, and Internal Service Funds are presented in the
following pages. It shows that, overall, there will be an operating budget surplus of
$6,746,568 (2.9%) in the General Fund.
While this year-end surplus is lower than in prior years, it is not entirely unanticipated. The
FY 2007/08 Adopted Budget included over $20 million and 93 positions in reductions made
by the City as compared to the FY 2006/07 Adopted Budget to address state-mandated
reductions in the City's millage. The City implemented pro-active cost-saving measures very
early in the Fiscal Year. These measures resulted in cost-savings in almost every City
department. These expenditure savings were anticipated in the FY 2007/08 third quarter
projections that were included in the FY 2008/09 Proposed Workplan and Operating Budget
distributed last August. The only departments whose expenditures significantly exceeded
their budget were the Police and Fire Departments, where actual expenditures exceeded the
budget by over $0.652 and $1.186 million, respectively. This resulted in total savings of
approximately $2 million in the General Fund.
In addition, on the revenue side, approximately $4.8 million in additional revenues were
realized primarily due to increased electrical and telephone taxes (Other Taxes), increased
interest earnings due to higher than budgeted interest rates for longer term investments and
fund balances, and increased building permit revenues (Licenses and Permits). These
increases were partially offset by reduced ad-valorem property taxes, intergovernmental,
charges for services, miscellaneous revenue, and increased rent/lease and fines and forfeit
revenues. With the exception of increased interest earnings and utility taxes, these were
anticipated in the FY 2007/08 third quarter projections that were included in the Proposed FY
2008/09 Work Plan and Operating Budget.
The City's financial policies adopted pursuant to Resolution 2006-26341 and Resolution
2002-24764 require one time revenues (such as the year-end surplus) mustbe used for
non-recurring expenses, and that at least half of each annual year-end surplus must
be allocated to the City's Capital Reserve Fund. However, the City's Capital Reserve
was established in FY 2005/06 at a time when the industry was at a peak, and project bids
were often coming in significantly higher than budgeted. Today is a very different market,
with construction bids being received significantly under project budgets, and at the same
time, the Capital Reserve has accumulated approximately $10 million in funding.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 2
Further, pursuant to the Governmental Accounting Standards Board (GASB) standards
established in 2004, related to reporting of liabilities for benefits paid to retirees other than
pensions (OPEB), the City of Miami Beach has determined that it is in the best interest of the
City to establish an OPEB trust as it reduces the City's OPEB liability. Although, GASB
standards require the City to recognize the liability for OBEP benefits as incurred, it does not
prescribe that these must be funded or how. The City has the options of never funding the
liability; funding when and if funds become available; or funding pursuant to a plan that will
provide full funding over a reasonable timeframe. None-the-less, unfunded liabilities
typically affect the financial rating of the City. The Net Obligations for the City for FY
2007/08 range from $6.901 million with a Trust that is funded over time to $11.057 million
without a Trust. The General Fund component of the Net Pension Obligation for FY 2007/08
is $6.29 million, of which $4 million has been set aside from prior year-end surpluses.
As importantly, the City has performed an updated analysis of building permit fee revenues
and building department expenses. Pursuant to Florida Statute, it is required that
unexpended building fee revenues be carried forward to future years to fund allowable
activities in enforcing the Florida Building Code. This analysis has shown the carry forward
balance to be $10.475 million through September 30, 2008. This is primarily due to the
ongoing review of the application of building permit fee ordinance, and the implementation of
new processes which required upfront and back-end disclosure of the actual cost of
remodeling and square footage of new facilities, over the last two years, which resulted in $6
million above revenue budget in FY 2006/07 and an additional $4.6 million above revenue
budget for FY 2007/08. The City expects to fund this carry forward over time, as current
recurring revenues are not sufficient to cover the fully-burdened cost of expenditures of the
Building Department. None-the less, the City recognizes that it is prudent to put some funds
aside now, that may be needed later, since the Department has several improvement
initiatives underway that will require funding in the near-term. In addition, the expenditures
associated with building inspections will lag years behind as compared to when the building
permit fee revenues were collected, and the recent downturn in the economy is expected to
result in reduced building permit fee revenues in the upcoming years.
As a result, it is recommended that the Commission waive the requirement that at least half
of the FY 2007/08 year-end surplus be used to fund the City's Capital Reserve. Rather, it is
recommended that the General Fund budget be increased by using the $6.75 million surplus
as follows:
• $2.25 million to fund the City's FY 2007/08 accrued liability for post-employment (retiree
health) benefits pursuant to new requirements of GASB 45; and
• $4.5 million to a reserve for future Building Department needs.
It should be noted that this actual is preliminary in nature due to the fact that the City's
financial records will not be closed until after the external auditors complete their review.
Historically, this occurs in April, with the City's Comprehensive Annual Financial Report
(CAFR) For the Year Ended September 30, 2008, usually available in May. However, this
analysis has considered all year-end closing entries to date and typically, any additional
changes are minor in nature.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 3
I. GENERAL FUND OVERVIEW
At this writing, operating revenues received from all sources by the General Fund total
$235,399,950, which is $4,775,413 more than the adopted budget of $230,624,537. This
surplus is primarily due to higher than anticipated revenues from building and trade permits,
tax revenue from utility and franchise fees, and an increase in interest earnings.
Operating expenditures incurred by all departments in the General Fund total $228,653,382,
which is $1,971,155 less than the adopted budget of $230,624,537. Since Florida Statutes
prohibit the overexpenditure of departmental budgets and funds, a budget amendment will
be necessary for those functions which projections indicate will overexpend their
appropriation. A Resolution to adopt the first amendment to the General, Enterprise and
Internal Service Fund Budgets for Fiscal Year 2007/08 will be presented at the February 25~'
City Commission meeting.
Summing the revenue surplus of $4,775,413 and the underexpenditures of $1,971,155
equals a budget surplus of $6,746,568 (including encumbrances). A summary of preliminary
General Fund Revenues and Expenditures as of September 30, 2008 is as follows:
Adopted 3~d Quarter Preliminary* Budget/
Budget Projection Actual/Enc Actual
General Fund FY 07/08 as of 06/30/08 as of 1/31/09 Over/(Under)
Revenues $230,624,537 $233,107,327 $235,399,950 $ 4,775,413
Expenditures 230,624,537 226,981.724 228,653.382 (1,971.155)
Surplus/(Deficit) $ 0 $ 6,125,603 $ 6,746,568 $ 6,746,568
Note: * Includes encumbrances.
As of September 30, 2008, revenues collected equal $235,399,950 and represent an excess
of $4,775,413 or 2.1 % of the adopted budget. Actual expenditures of $228,653,382 were
0.9% under budget or $1,971,155.
"Attachment A" provides a detail of General Fund Revenues and Expenditures by revenue
category and department expenditure, Shown below are detailed comments on revenue
categories and for those departments with expenditures with significant variances over
$300,000.
GENERAL FUND OPERATING REVENUES
Significant revenue variances are as follows:
Ad Valorem Property Taxes -Year-end collections of $123,786,473 are 1.3%
under the budget creating a net shortfall of $1,695,325. This is primarily due to
higher than anticipated property value appeals approved by Miami-Dade County.
2. Other Taxes -This category includes franchise and utility taxes on services which
are sensitive to local economic indicators. Based on actual collections of
$24,045,664, an excess of $1,212,364, or 5.3%, resulted at year-end. This is
primarily due to an increase in revenues from taxes on electricity, cable, and phone
service.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 4
3. Licenses and Permits -This category includes licenses and building and special
use permits. Based on actual collections of $19,327,819, an excess of $4,386,394,
or 29.4%, resulted at year-end. This is primarily due to the ongoing review of the
application of building permit fee ordinance, and the implementation of new
processes which required upfront and back-end disclosure of the actual cost of
remodeling and square footage of new facilities.
4. Intergovernmental -This category includes state-shared revenues such as
cigarette, gas and sales taxes. Based on actual collections of $10,330,062, a
shortfall of $383,878, or 3.6%, resulted at year-end. This is mainly due to a decrease
in collections of taxes on sales due to the overall downturn in the economy.
5. Charges for Services -This category includes fees for copies, passports, fire
rescue, and recreational services. Based on actual collections of $7,996,660, a
shortfall of $245,690, or 3.0%, resulted at year-end. This is due primarily to lower
than expected revenues from Fire Rescue and Off-Duty Police Administrative Fees
which reflect the decline in tourism and related events.
6. Fines and Forfeits -This category includes traffic citations, and code and fire
violation fees. Based on actual collections of $2,341,561 a surplus of $366,561, or
18.6%, resulted at year-end. This is due to higher than anticipated revenues from
code violation revenues.
7. Interest -This category includes interest income from City investments. Based on
actual collections of $7,837,849, an excess of $1,637,849, or 26.4%, resulted at
year-end. This is primarily due to higher than budgeted interest rates for long term
investments and fund balances.
8. Rents and Leases -This category includes rents and leases on City-owned
facilities such as the Miami Beach Marina, Historic City Hall, and others. Projections
indicate that year-end revenues will exceed budget by $53,442 or 1.2%. This is
primarily due to an increase in revenues from the rental of the Miami Beach Marina,
and revenues from bus shelters.
9. Miscellaneous -This category includes concessions, planning fees, and other
reimbursements. Projections indicate that year-end revenues will be 7.1 % below
budget or $529,996 due primarily to lower than anticipated revenues as a result of
savings in the CIP Department and therefore lower cost allocations to capital
improvement projects.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 5
GENERAL FUND OPERATING EXPENDITURES
Significant department savings and overexpenditures in excess of $300,000 by General
Fund department are explained in the following pages.
Significant Savings
1. Tourism & Cultural Development
Adopted 3`d Quarter Preliminary Budget/
Budget Projection Actual/Enc Actual
FY 07/08 as of 6/30/08 as of 1/31/09 Over/(Under)
$ 3,147,135 $ 2,937,616 $ 2,833,764 $ (313,371)
This department underspent its budget by $313,371 or 10% due primarily to salary savings
from vacant positions and operating expenses.
2. Neighborhood Services
Adopted 3`d Quarter Preliminary Budget/
Budget Projection Actual/Enc Actual
FY 07/08 as of 6/30/08 as of 1/31/09 Over/(Under)
$ 5,532,938 $ 5,189,534 $ 5,152,696 $ (380,242)
This department underspent its budget by $384,479 or 6.9% due primarily to savings in
operating costs as well as unfilled vacant positions throughout the year.
3. Parks and Recreation
Adopted 3`d Quarter Preliminary Budget/
Budget Projection Actual/Enc Actual
FY 07/08 as of 6/30/08 as of 1/31/09 Over/(Under)
$28,142,606 $27,342,473 $27,044,841 $(1,097,765)
The Parks and Recreation Department underspent its budget by $1,097,765 or 3.9% due
primarily to savings in personnel costs from vacant positions and operating costs.
4. Capital Improvement Program
Adopted 3~' Quarter Preliminary Budget/
Budget Projection Actual/Enc Actual
FY 07/08 as of 6/30/08 as of 1/31/09 Over!(Under)
$ 3,376,245 $ 3,076,245 $ 2,871,316 $ (504,929)
This department underspent its budget by $504,929 or 15% due primarily to salary savings
from vacant positions.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 6
5. Citywide Accounts-Other
Adopted 3~d Quarter Preliminary* Budget/
Budget Projection Actual/Enc Actual
FY 07/08 as of 6/30/08 as of 1/31/09 Over/(Under)
$12,570,893 $10,676,264 $11,727,838 $ (843,055)
The Citywide Accounts-Other underspent its budget by $843,055 or 6.7% due primarily to
lower than anticipated Accumulated Leave Settlement payouts as well as not having to use
various funds that were set aside for contingencies.
Significant overexpenditures
6. Fire
Adopted 3~d Quarter
Budget Projection
FY 07/08 as of 6/30/08
$45,744,552 $46,725,166
Preliminary Budget/
Actual/Enc Actual
as of 1/31/09 Over/(Under)
$46,930,564 $ 1,186,012
The Fire Department exceeded its budget by $1,186,012 or 2.6%. The majority, or $737,388,
of the over expenditure in the Fire Department can be primarily attributed to underestimating
benefit needs for the budget year for items such as holiday pay and health insurance.
However, this was partially offset by savings in health insurance contingency in the Citywide
Accounts. The remaining over expenditure can be attributed mainly to $304,050 from
internal service costs in Fleet Management (due to higher fuel costs) and $83,524 from
Property Management (due to renovations for Beach Patrol facilities and stands). The
remaining $61,050 represents prior year encumbrances that must be brought forward as
stated above.
7. Police
Adopted 3`d Quarter
Budget Projection
FY 07/08 as of 6/30/08
$76,957,768 $77,784,035
Preliminary Budget/
Actual/Enc Actual
as of 1/31/09 Over/(Under)
$77,609,519. $ 651,751
The Police Department exceeded its budget by $651,751 or 0.8% due primarily to higher
than anticipated internal service costs in Fleet Management as a result of higher fuel costs
and overtime.
ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND EXPENSES FOR THE FISCAL YEAR
ENDING SEPTEMBER 30, 2008, FOR GENERAL, ENTERPRISE, AND INTERNAL SERVICE FUNDS
Page 7
II. ENTERPRISE FUNDS
The City accounts for proprietary operations in Enterprise Funds. Convention Center,
Parking, Sanitation, Water, Sewer, and Stormwater are included in this grouping. Based
upon our review, the Parking, Sanitation, and Water and Sewer Funds are projected to be
under budget. However, it is necessary to amend the appropriation for the Stormwater Fund
which our year-end expenditure projections indicate will exceed its budget appropriation by
$353,368 or 4.3%. This was primarily due to prior year encumbrances for capital items and
higher than anticipated depreciation costs. We do not have preliminary numbers for the
Convention Center Fund due to the recent turnover in management. This information will
be provided at a later date. For a detail of Enterprise Fund Revenues and Expenses by
department, see "Attachment B".
111. INTERNAL SERVICE FUNDS
The City accounts for those goods and services provided by one department to other
departments citywide on a cost reimbursement basis. Central Services, Fleet Management,
Information Technology, Property Management, and Risk Management (Self Insurance) are
included in this grouping. Based upon our review, the Information Technology, Property
Management and Risk Management Funds are projected to be under budget. However, it is
necessary to amend the appropriations for the Central Services and Fleet Management
Funds which our year-end expenditure projections indicate will exceed their budget
appropriation. The Central Services Fund exceeded its budget by $74,203 or 8.9% primarily
due to higher than anticipated operating costs. The Fleet Management Fund exceeded its
budget by $1,172,510 or 15.4% primarily due to higher than anticipated operating costs
arising from higher prices for fuel. For a detail of Internal Service Funds Revenues and
Expenses by department, see "Attachment C".
CONCLUSION
This analysis of preliminary operating revenues and expenses for General, Enterprise, and
Internal Service Funds for the year ended September 30, 2008, is presented as part of our
on-going efforts to keep the Commission informed of the status of the FY 2007/08 Budget.
A Resolution to adopt the first amendment to the General, Enterprise and Internal Service
Funds Budgets for FY 2007/08 will be presented at the February 25th City Commission
meeting.
JMG/KGB
Attachments -C
ATTACHMENT A
REVENUES
FY 2007/08 General Fund Operating Summary Projection
Ad Valorem Taxes
Ad Valorem Taxes-S Pte Costs
Ad Valorem Cap.Renewal & Replace.
Ad Valorem S Pte Cap.Ren & Repl
Ad Valorem Taxes-Norm Shores
.Other Taxes
'Licenses and Permits
'i Intergovernmental
Charges for Services
Fines and Forfeits
Interest
Rents and Leases
Miscellaneous
Other -Resort Tax contribution
Other -Non Operating revenues
Fund Balance
TOTAL REVENUES
EXPENDITURES
Mayor and Commission
City Manager
Communications
City Clerk
Finance
Office of Budget & Pert Improve.
Human Resources
Procurement
City Attorney
Economic Development
Building
Planning
Tourism & Cultural Development
Neighborhood Services
Parks and Recreation
Public Works
Capital Improvement Projects
Fire
Police
Citywide Accounts-Other
Citywide Accounts-Normandy Shore
Citywide Accounts-Transfers
Ca ital Renewal & Replacement
~ TOTAL EXPENDITURES ~
EXCESS OF REVENUES OVER/
(UNDER) EXPENDITURES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Projection 07/08 (as of 1/31/09)
$ 114,114,196 $ 112,684,695 $ 112,418,871
7,718,251 7,718,251 7,718,251
3,266,096 3,266,096 3,266,096
234,435 234,435 234,435
148,820 148,820 148,820
22,833,300 23,492,654 24,045,664
14,941,425 19,193,500 19,327,819
10,713,940 10,349,700 10,330,062
8,242,350 8,047,100 7,996,660
1,975,000 2,044,000 2,341,561
6,200,000 6,200,000 7,837,849
4,371,150 4,283,053 4,424,592
7,479,914 7,052,254 6,949,918
20,696,309 20,696,309 20,696,309
7,689,351 7,696,460 7,663,043
0 0 0
$ 230,624,537 $ 233,107,327 $ 235,399,950
$ 1,403,877 $ 1,359,911 $ 1,372,732
2,289,042 2,235,451 2,282,177
1,224,962 1,139,629 1,101,622
1,669,012 1,640,603 1,631,115
4,274,374 4,094,293 4,064,907
1,904,001 1,875,189 1,728,166
1,802,168 1,846,466 1,832,892
926,568 907,028 900,245
4,213,126 3,906,043 4,006,960
933,299 931,062 959,962
8,689,391 8,406,271 8,489,364
3,215,399 2,881,250 2,951,761
3,147,135 2,937,616 2,833,764
5,532,938 5,189,534 5,152,696
28,142,606 27,342,473 27,044,841
6,222,817 6,097,831 6,411,794
3,376,245 3,076,245 2,871,316
45,744,552 46,725,166 46,930,564
76,957,768 77,784,035 77,609,519
12,570,893 10,676,264 11,727,838
203,833 203,833 203,833
12,680,000 12,225,000 12,785,793
3,500,531 3,500,531 3,759,521
$ 230,624,537 $ 226,981,724 $ 228,653,382
$ 0 $ 6,125,603 $ 6,746,568
Prelim - Adptd
Over/ Under
(1,695,325)
0
0
0
0
1,212,364
4,386,394
(383,878)
(245,690)
366, 561
1,637,849
53,442
(529,996)
0
(26,308)
0
$ 4,775,413
$ (31,145)
(6,865)
(123,340)
(37,897)
(209,467)
(175,835)
30,724
(26,323)
(206,166)
26,663
(200,027)
(263,638)
(313,371)
(380,242)
(1,097,765)
188,977
(504,929)
1,186,012
651,751
(843,055)
0
105,793
258,990
$ 1,971,155)
$ 6,746,568
ATTACHMENT B
FY 2007/08 Enterprise Funds Summary Projection
Adopted FY 2007/08 Prelim Actual/Enc Prelim - Adptd
PARKING FY 2007108 3rd Qtr Projection 07/08 as of 1/31/09 Over/(Under
REVENUES
CHARGES FOR SERVICES
Meters
Parking Citations
Attended Parking
Permits
Preferred Lot
Garages
Space Rental
Valet
Towin Fees
Subtotal
OTHER
Interest Earnings
Retained Earnings
Miscellaneous
Subtotal
TOTAL REVENUES
$ 12,143,283 $ 12,406,225 $ 13,555,858
2,800,000 3,000,000 3,155,245
825,000 1,656,000 1,552,672
1,101,000 858,000 813,493
1,500,000 1,600,000 1,436,378
6,101,000 6,402,400 5,733,299
380,000 300,000 266,932
360,000 410,000 458,027
150,000 217,000 207,556
$ 25,360,283 $ 26,849,625 $ 27,179,460
$ 1,000,000 $ 1,850,000 $ 1,517,866
414,700 399,942 465,363
100,410 117,500 349,267
$ 1,515,110 $ 2,367,442 $ 2,332,496
$ 26,875,393 $ 29,217,067 $ 29,511,956
$ 1,412,575
355,245
727,672
(287,507)
(63,622)
(367,701)
(113,068)
98,027
57,556
$ 1,819,177
$517,866
50,663
248,857
$817,386
$ 2,636,563
EXPENSES
Payroll & Fringes
Operating
Management Fees to GF
Depreciation
Debt Service
Capital
$ 8,386,223 $ 8,330,349 $ 8,380,921
11,822,760 10,874,443 11,180,774
2,433,400 2,433,400 2,433,400
1,633,409 1,633,409 1,167,140
2,184,901 2,177,026 1,546,676
414,700 487,710 465,363
$ 26,875,393 $ 25,936,337 $ 25,174,274
(641,986)
0
(466,269)
(638,225)
50,663
$ 1,701,119
EXCESS OF REVENUES OVER/
(UNDER) EXPENSES $ 0 $ 3,280,730 $ 4,337,682 $ 4,337,682
ATTACHMENT B
FY 2007/08 Enterprise Funds Summary Projection
Adopted FY 2007/08 Prelim Actual/Enc Prelim - Adptd
SANITATION FY 2007/08 3rd Qtr Projection 07/08 as of 1131/09 Over/ Under
REVENUES
CHARGES FOR SERVICES
Sanitation Fees
Franchise Tax-Waste Contractors
Franchise Tax-Right of Way
Trash Removal
Roll Off
Impact Fee-Construction
Impact Fee-Commercial
City Center RDA-Reimbursement
Amended CDT Interlocal Agreement
Violations/Fines
Subtotal
OTHER
Interest EarningslOther
Parking Fund Contribution
Stormwater Fund Contribution
Subtotal
TOTAL REVENUES
$ 3,333,321 $ 3,333,321 $ 3,223,597
3,197,370 3,080,315 3,236,291
356,594 355,200 374,382
100,000 200,000 60,630
869,223 750,000 1,117,381
1,016,531 1,200,000 1,081,331
668,717 680,000 664,749
1,069,477 1,069,477 1,573,929
2,970,674 2,970,674 2,357,697
75,000 120,000 51,773
$ 13,656,907 $ 13,758,987 $ 13,741,760
$ 182,200 $ 410,000 $ 593,889
351,125 351,125 351,125
584,000 584,000 584,000
$ 1,117,325 $ 1,345,125 $ 1,529,014
$ 14,774,232 $ 15,104,112 $ 15,270,774
$ (109,724)
38,921
17,788
(39,370)
248,158
64,800
(3,968)
504,452
(612,977)
(23,227
$ 84,853
$ 411,689
0
0
$ 411,689
$ 496,542
EXPENSES
Payroll & Fringes
Operating
Garbage Contracts
Management Fees to GF
Depreciation
Debt Service -Loan Program
Capital
TOTAL
$ 8,198,767 $ 7,055,634 $ 6,546,289
2,482,302 2,959,875 3,877,307
2,503,861. 2,443,273 2,573,656
264,500 264,500 264,500
555,378 255,378 331,561
236,424 3,526 236,424
533,000 532,200 241,378
$ 14,774,232 $ 13,514,386 $ 14,071,115
$ (1,652,478)
1,395,005
69,795
0
(223,817)
0
11
EXCESS OF REVENUES OVER/
(UNDER) EXPENSES $ 0 $ 1,589,726 $ 1,199,659 $ 1,199,659
ATTACHMENT B
FY 2007/08 Enterprise Funds Summary Projection
Adopted FY 2007/08 Prelim Actual/Enc Prelim - Adptd
WATER OPERATIONS FY 2007/08 3rd Qtr Projection 07/08 as of 1/31/09) Over/ Under)
REVENUES
CHARGES FOR SERVICES
Water Sales
Firelines
Water Connection Fees
Water Tapping
Subtotal
OTHER
Interest Earnings
Miscellaneous
Retained Earnin s-Capital
Subtotal
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Water Purchase
Management Fees to GF
DERM Fee
Depreciation
Debt Service
Capital
~ TOTAL EXPENSES ~
$ 22,407,566 $ 22,784,402 $ 22,209,362
100,000 75,000 73,500
3,000 3,000 0
160,000 160,000 163,386
$ 22,670,566 $ 23,022,402 $ 22,446,248
$ 70,000 $ 123,000 $ 135,220
650,000 650,000 852,683
586,000 586,000 393,332
$ 1,306,000 $ 1,359,000 $ 1,381,235
$ 23,976,566 $ 24,381,402 $ 23,827,483
$ 4,193,197 $ 3,665,867 $ 3,762,105
2,731,932 2,597,838 2,683,600
8,532,261 7,744,833 7,531,798
1,673,843 1,673,843 1,673,843
1,489,664 1,539,086 1,539,086
680,000 680,000 1,239,732
4,089,669 4,089,669 4,071,665
586,000 586,000 393,332
$ 23,976,566 $ 22,577,136 $ 22,895,161
$ (198,204)
(26,500)
(3,000)
3,386
$ 224,318)
$ 65,220
202,683
(192,668
$ 75,235
$ (149,083)
$ (431,092)
(48,332)
(1,000,463)
0
49,422
559,732
(18,004)
192,668
$ (1,081,405)
EXCESS OF REVENUES OVER/
(UNDER) EXPENSES $ 0 $ 1,804,266 $ 932,322 $ 932,322
ATTACHMENT B
FY 2007/08 Enterprise Funds Summary Projection
Adopted FY 2007/08 Prelim Actual/Enc Prelim - Adptd
SEWER OPERATIONS FY 2007108 3rd Qtr Pro'ection 07/08 as of 1/31/09 Over/ Under
REVENUES
CHARGES FOR SERVICES
Sewer User Fees
Sewer Connection Fees
Sewer Fees-Cities
Subtotal
OTHER
Interest Earnings
Miscellaneous
Retained Earnin s-Capital
Subtotal
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Sewer Treatment
Management Fees to GF
DERM Fee
Depreciation
Debt Service
~ TOTAL EXPENSES ~
$ 26,292,385 $ 26,233,218 $ 25,932,053
35,000 37,000 69,304
2,874,132 2,031,100 2,159,388
$ 29,201,517 $ 28,301,318 $ 28,160,745
$ 215,000 $ 377,000 $ 405,659
675,000 675,000 830,337
176,600 279,796 364,070
$ 1,066,600 $ 1,331,796 $ 1,600,066
$ 30,268,117 $ 29,633,114 $ 29,760,811
$ 2,766,633 $ 2,411,799 $ 2,324,788
3,021,202 2,897,469 2,993,171
15,112,175 14,994,932 15,296,882
1,388,957 1,388,957 1,388,957
1,698,660 1,698,569 1,698,569
1,180,000 1,180,000 1,280,419
4,923,890 4,923,890 4,896,761
176,600 279,796 364,070
$ 30,268,117 $ 29,775,412 $ 30,243,617
$ (360,332)
34,304
714,744
$ (1,040,772)
$ 190,659
155,337
187,470
$ 533,466
$ 507,306)
$ (441,845)
(28,031)
184,707
0
(91)
100,419
(27,129)
187,470
EXCESS OF REVENUES OVER/
(UNDER) EXPENSES $ 0 $ (142,298) $ (482,806) $ (482,806)
ATTACHMENT B
FY 2007/08 Enterprise Funds Summary Projection
Adopted FY 2007108 Prelim Actual/Enc Prelim - Adptd
STORMWATER ~ FY 2007/08 3rd Qtr Projection 07/08 as of 1/31/09) Over/(Under
REVENUES
Stormwater Fees $ 7,750,000 $ 7,750,000 $ 7,109,411 $ (640,589)
Interest Earnings 400,000 300,000 297,247 (102,753)
Other 0 0 2,905) (2,905)
TOTAL REVENUES $ 8,150,000 $ 8,050,000 $ 7,403,753 $ 746,247
EXPENSES
Payroll & Fringes
Operating
Contribution to Sanitation
Management Fees to GF
Depreciation
Debt Service
Ca ital
TOTAL EXPENSES
$ 1,710,498 $ 1,544,368 $ 1,617,568
1,484,002 1,467,116 1,633,180
584,000 584,000 584,000
264,500 264,500 264,500
130,000 130,000 320,536
3,575,000 3,575,000 3,523,339
402,000 402,000 560,245
$ 8,150,000 $ 7,966,984 $ 8,503,368
(92,930)
149,178
0
0
190,536
(51,661)
158.245
EXCESS OF REVENUES OVER/
(UNDER) EXPENSES $ 0 $ 83,016 $ (1,099,615 $ (1,099,615)
ATTACHMENT C
FY 2007/08 Internal Service Funds Summary Projection
CENTRAL SERVICES
REVENUES
Inter-departmental Charges
Interest/Other
Retained Earnin s
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Postage
Depreciation
Ca ital
TOTAL EXPENSES
EXCESS REVENUES OVER/
UNDER)EXPENSES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Pro'ection 07108 as of 1/31/09
$826,544 $829,375 $905,216
4,000 4,000 593
0 0 0
$830,544 $833,375 $905,809
$378,524 $375,380 $398,157
268,707 269,807 321,675
178,945 181,945 178,531
4,368 4,368 6,384
0 0 0
$830,544 $831,500 $904,747
$0 $1,875 $1,062
Prelim - Adptd
Over/(Under
$78,672
(3,407)
0
$75,265
$19,633
52,968
(414)
2,016
0
$1,062
ATTACHMENT C
FY 2007/08 Internal Service Funds Summary Projection
FLEET MANAGEMENT
REVENUES
Inter-departmental Charges
Sale of City Property
Interest/Other
Motor Fuel Tax Refund
Retained Earnin s
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Fuel
Debt Service
Ca ital
TOTAL EXPENSES
EXCESS REVENUES OVER/
(UNDER)EXPENSES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Pro"ection 07/08 as of 1/31/09
$6,977,820 $7,377,264 $8,196,432
140,000 225,000 264,292
309,000 304,324 275,869
92,000 93,500 94,270
110,000 110,000 242,753
$7,628,820 $8,110,088 $9,073,616
$1,579,929 $1,591,330 $1,651,824
2,052,343 2,067,263 2,091,347
2,200,000 2,652,814 3,128,858
1,686,548 1,686,548 1,686,548
110,000 110,000 242,753
$7,628,820 $8,107,955 $8,801,330
$0 $2,133 $272,286
Prelim - Adptd
Over/ Under)
$1,218,612
124,292
(33,131)
2,270
132,753
$1,444,796
$71,895
39,004
928,858
0
132,753
$1,172,510
$272,286
ATTACHMENT C
FY 2007/08 Internal Service Funds Summary Projection
INFORMATION TECHNOLOGY
REVENUES
Inter-departmental Charges
Other/Interest
Retained Earnin s
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Telephone
Depreciation
Debt Service
~ TOTAL EXPENSES ~
EXCESS REVENUES OVER/
(UNDER EXPENSES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Pro'ection 07/08 as of 1/31/09
$11,917,318 $11,917,318 $11,964,440
182,928 190,000 140,238
1,511,500 1,511,500 1,556,440
$13,611,746 $13,618,818 $13,661,118
$4,537,892 $4,384,408 $4,698,963
4,369,337 4,417,961 3,816,673
1,080,674 1,029,050 1,411,337
1,514,000 1,514,000 1,514,000
598,343 598,343 598,343
1, 511, 500 1, 511, 500 1, 556,440
$13,611,746 $13,455,262 $13,595,756
$0 $163,556 $65,362
Prelim - Adptd
Over/(Under
$47,122
(42,690)
44,940
$49,372
$161,071
(552,664)
330,663
0
0
44.940
$65,362
ATTACHMENT C
FY 2007/08 Internal Service Funds Summary Projection
PROPERTY MANAGEMENT
REVENUES
Inter-departmental Charges
Other/Interest
Construction Projects
Retained Earnin s
TOTAL REVENUES
EXPENSES
Payroll & Fringes
Operating
Depreciation
Ca ital
TOTAL EXPENSES
EXCESS REVENUES OVER/
UNDER)EXPENSES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Projection 07/08 (as of 1/31/09)
$8,865,581 $8,629,969 $8,650,209
44,368 25,000 95,803
259,500 305,947 166,158
589,550 589,550 221,953
$9,758,999 $9,550,466 $9,134,123
$4,607,145 $4,163,967 $4,189,661
4,317,304 4,467,304 4,519,330
245,000 329,645 274,388
589,550 589,550 221,953
$9,758,999 $9,550,466 $9,205,332
$0 $0 ($71,209)
Prelim - Adptd
Over/ Under
($215,372)
51,435
(93,342)
367,597
($624,876
($417,484)
202,026
29,388
367,597)
$553,667)
($71,209)
ATTACHMENT C
FY 2007/08 Internal Service Funds Summary Projection
RISK MANAGEMENT
REVENUES
Inter-departmental Charges
Other/Interest
Retained Earnings
TOTAL REVENUES
EXPENSES
Operating
Administrative Fees
Non-Operatin
TOTAL EXPENSES
EXCESS REVENUES OVER/
(UNDER EXPENSES
Adopted FY 2007/08 Prelim Actual/Enc
FY 2007/08 3rd Qtr Projection 07/08 (as of 1/31/09)
$16,031,691 $15,536,141 $15,926,277
340,000 1,686,266 1,633,259
546,000 0 0
$16,917,691 $17,222,407 $17,559,536
$822,090 $621,094 $832,097
674,481 674,481 674,481
15,421,120 15,363,847 15,405,321
$16,917,691 $16,659,422 $16,911,899
$0 $562,985 $647,637
Prelim - Adptd
Over/ Under
($105,414)
1,293,259
546,000)
$641,845
$10,007
0
15,799)
($5,792
$647,637