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Home My WebLink About1996-11-12; City Council; 13897; Financial report FY 1st quartere a 5v L CITY OF CARLSBAD -AGENDA BILL FIRST QUARTER MTG. 11/12/96 FINANCIAL REPORT FOR FISCAL YEAR 1996-97 RECOMMENDED ACTIONS: Accept and file report. ITEM EXPLANATION: The attached Financial Status Report summarizes the fiscal status of the General fund, the Water and Sanitation Enterprises, and the Redevelopment Agency through the first quarter of fiscal year Revenues for the General fund through September total $8.7 million which is 16% or $1.2 million ahead of projections. Development-related revenues account for the majority of the increase. Revenues for the Water and Sanitation Enterprises and the Redevelopment Agency also reflect increases compared to the previous year. Although it is important to continually monitor revenues throughout the year, first quarter receipts are not necessarily an accurate predictor for the remainder of the year. Many revenues, such as property tax and sales tax, fluctuate significantly from quarter to quarter. FISCAL IMPACT: I. Financial Status Report - First Quarter, Fiscal Year 1996-97 d L8.J E an 2 .. 4: 0 F 0 4 J 6 z 3 0 0 GENERAL FUND Taxes The City’s tax revenue is primarily comprised occupancy tax. Property tax revenues as of budget expectations at $557,000. Property estimates in the beginning of the fiscal year. This is due to timing variances in the payments from the County and is not property tax. of property tax, sales tax, and transient September 30, 1996 are slightly below tax revenue receipts are typically below indicative of the City’s ultimate share of the Tax Revenue Budget to Actual September 1996 TRANSIENT TAX SALESTAX PROPERTY TAX I 0.0 0.5 1.0 1.5 2.0 2.5 3.0 In millions 0 Budget m Actual Development Fee Revenues Development related revenues significantly exceed expectations for the first quarter of the year. Engineering fees, at $572,000, surpassed expectations for the quarter engineering revenues amount to 72% of the projected revenues for the entire year. The engineering department has particularly for large first quarter by 568%. First seen an increase in activity, development projects. Included in the large development projects are Mariner’s Point, three projects in Aviara, Rancho Development Fee Revenue Budget to Actual September 1996 CONSTRUCTION PWMlTS 568% ENGINEERING BUILDING PLANNING 0 100 200 300 400 500 600 In Thousands 0 Budget =Actual 1 0 the r Revenues Vehicle license fees are ahead of projections by 10% or $64,000. It is expected that vehicle license fees will meet or exceed expectations by year end. Recreation fees total $247,000 and are $50,000 or 25% more than expected for the first quarter. The busiest time for the Recreation summer months are generally the department as participation increases in programs such as youth camps, adult sports leagues, and instructional classes. Property rental ahead of projections through fees total $52,000 and are 13% Other Revenue Budget to Actual September 1996 AMBULANCE FEES BUSINESS LICENSE RECREATIONFEES FINE & FORFEITURES VEHlCLE LICENSE FEE 0 100 200 300 400 500 600 700 In Thousands , Budget w Actual l a 0 0 Financial Status Report Page Four DETAIL REVENUE COMPARISON BUDGET CHANGE TRANSIENT TAX FRANCHISE TAX TRANSFER TAX OTAL TAXES OTAL STATE SUBVENTIONS LICENSE TAX-CONSTRUCTION OTHER LICENSES & PERMITS OTAL LICENSES & PERMITS PLANNING FEES BUILDING DEPT. FEES ENGINEERING FEES AMBULANCE FEES RECREATION FEES PROPERTY RENTAL OTHER CHARGES OR FEES OTAL CHARGES FOR SERVICES the end of September. GENERAL FUND EXPENDITURE STATUS BY DEPARTMENT TOTAL AVAl LABLE % BUDGET COMMITTED* BALANCE AVAILABLE** 9130196 DEPT DESCRIPTION FY 1996-97 9130196 9130196 GENERAL GOVERNMENT CITY COUNCIL 170,519 41,228 129,291 75.8% CITY MANAGER 864,865 190,276 674,589 78.0% CITY CLERK 364,847 123,540 241,307 66.1% ATTORNEY 556,949 136,480 420,469 75.5% FINANCE 1,244,977 383,296 861,681 69.2% TREASURER 114,770 27,248 87,522 76.3% PURCHASING 371,385 136,793 234,592 63.2% HUMAN RESOURCES 990,743 335,113 655,630 66.2% CONTINGENCY 595,030 0 595,030 100.0% NON-DEPARTM ENTAL 2,960,874 2,832,232 128,642 4.3% TOTAL GENERAL GOVERNMENT 8,234,959 4,206,206 4,028,752 48.9% PUBLIC SAFETY POLICE 9,699,604 2,451,826 7,247,778 74.7% FIRE 7,012,811 1,686,448 5,326,363 76.0% TOTAL PUBLIC SAFETY 16,712,415 4,138,274 12,574,141 75.2% COMMUNITY DEVELOPMENT COMMUNITY DEVELOPMENT 974,309 241,541 732,768 75.2% ENGINEERING 3,369,986 855,886 2,514,100 74.6% PLANNING 2,214,691 593,017 1,621,674 73.2% BUILDING 836,481 293,822 542,659 64.9% TOTAL COMMUNITY DEVELOPMENT 7,395,467 1,984,267 5,411,201 73.2% LIBRARY AND THE ARTS LIBRARY 2,578,460 644,440 1,934,020 75.0% CULTURAL ARTS 301 ,I 25 88,261 21 2,864 70.7% TOTAL LIBRARY & ARTS 2,879,585 732,701 2,146,884 74.6% COMMUNITY SERVICES COMMUNITY SERVICES ADMIN. 648,241 145,575 502,666 77.5% PARKS & RECREATION 3,888,300 987,127 2,901,173 74.6% STREETS & FACILITIES 3,602,850 877,042 2,725,808 75.7% TOTAL COMMUNITY SERVICES 8,139,391 2,009,744 6,129,647 75.3% TOTAL GENERAL FUND 43,361,817 13,071,191 30,290,625 69.9% * Total committed includes expenditures & encumbrances. CARLSBAD MUNICIPAL WATER DISTRICT WATER OPERATIONS FUND SEPTEMBER 30, 1996 FY 1996-97 Y-T-D Y-T-D % BUDGET 9130195 9/30/96 DIFFERENCE DIFFERENCE REVENUES: WATER SALES 10,098,000 2,850,807 3,021,719 170,912 6.0 CHARGES FOR CURRENT SERVICES 2,566,000 572,965 615,720 42,755 7.5 FINES, FORFEITURES & PENALTIES 208,400 43,502 62,125 18,623 42.8 INTEREST 460,000 152,933 144,185 (8,748) (5.7) OTHERREVENUES 108,900 58,096 182,660 124,564 214.4 TOTAL OPERATING REVENUE 13,441,300 3,678,303 4,026,409 348,106 9.5 EXPENSES: SALARl ESlBEN EF ITS 2,111,060 480,452 392,775 (87,677) (1 8.2) INTERDEPARTMENTAL SERVICES 990,480 218,430 249,498 31,068 14.2 PU RCH AS E D WATER 7,665,000 1,627,245 1,799,669 172,424 10.6 M WDlCWA READY -TO-SERVE 31 6,072 0 49,571 49,571 0.0 UTILITIES 89,500 17,586 20,391 2,805 15.9 OUTSIDE SERVICES/MAINTENANCE 352,050 34,776 72,738 37,962 109.2 GENERAL OFFICE EXPENSE 147,300 26,782 20,492 (6,290) (23.5) MATERIALS AND SUPPLIES 318,046 30,974 44,807 13,833 44.7 DEPRECIATION 1,300,000 325,000 325,000 0 0.0 CAPITAL OUTLAY 107,060 9,041 509 (8,532) (94.4) MISCELLANEOUS EXPENSES 52,270 4,917 7,444 2,527 51.4 TOTAL OPERATING EXPENSES 1 3,448,838 2,775,203 2,982,893 207,690 7.5 OPERATING I NCOME/LOSS (7,538) 903,100 1,043,516 140,416 15.5 CARLSBAD MUNICIPAL WATER DISTRICT SEWER OPERATIONS FUND SEPTEMBER 30, 1996 FY 1996-97 Y-T-D Y-T-D % BUDGET 9/30/95 9/30/96 DIFFERENCE DIFFERENCE R EVEN U ES: CHARGES FOR CURRENT SERVICES 4,666,000 1,054,468 1 ,I 06,489 52,021 4.9 INTEREST 260,000 93,136 88,535 (4,601 ) (4.9) OTHERREVENUES 7,500 4,629 6,830 2,201 47.5 TOTAL OPERATING REVENUE 4,933,500 1,152,233 1,201,854 49,621 4.3 EXPENSES: SALARlES/BENEFlTS 609,350 120,624 114,639 (5,985) (5.0) INTERDEPARTMENTAL SERVICES 269,460 56,178 68,667 12,489 22.2 UTILITIES/RENTALS AND LEASES 68,000 10,989 1 1,600 61 1 5.6 OUTS1 DE SERVICES/MAI NTENANCE 31 1,050 36,846 21,520 (15,326) (41.6) MATERIALS AND SUPPLIES 99,855 12,031 4,375 (7,656) (63.6) DEPRECIATION 1,200,000 275,000 300,000 25,000 9. I ENCINA PLANT SERVICES 2,000,000 512,678 456,597 (56,081) (10.9) TOTAL OPERATING EXPENSES 4,681,623 1,044,030 998,664 (45,366) (4.4) CAPITAL OUTLAY 75,108 12,899 16,109 3,210 24.9 MISCELLANEOUS EXPENSES 48,800 6,785 5,158 (1,628) (24.0) OPERATING INCOME/LOSS 251,878 108,203 203,189 CARLS BAD RED EVELO P M ENT AGENCY OPERATIONS AND DEBT SERVICE FUNDS SEPTEMBER 30, 1996 FY 1996-97 REVENUE BUDGET Y-T-D Y-T-D REVENUES 9130195 9130196 D I FFERENCE PROPERTY TAXES 1,200,000 0 0 0 INTEREST 50,000 30,534 26,074 (4,460) MISCELLANEOUS REVENUES 11 3,300 4,952 35,150 30,198 1,363,300 35,486 61,224 25,738 TOTAL AVAILABLE % EXPENDITURES FY 1996-97 COMMITTED BALANCE AVAILABLE BUDGET 9130196 (1 ) 9130196 9130196 SALARl ES/BEN EFlTS 142,199 30,634 11 1,565 78.5 INTERDEPARTMENTAL SERVICES 205,188 51,402 153,786 74.9 RENTALS & LEASES 106,775 92,298 14,477 13.6 DEBT EXPENSE 1,076,000 0 1,076,000 100.0 OUTSIDE SERV/MAINT./MISC. 142,856 33,219 109,636 76.7 TOTAL EXPENDITURES 1,673,018 207,553 1,465,464 87.6 EXCESSOFREVENUESOVER EXPENDITURES (309,718) (I) Total committed includes expenditures and encumbrances. (2) Amount available would be 75% if funds were spent evenly throughout the year.