The URL can be used to link to this page

Home My WebLink About03/13/2013 Council Presentation - 2013 Financial Update_Qtr2FY2013 Financial Update – July -January Erik Montague, CPA Finance Director March 13, 2013 3 FY2013 Financial Update Update for July –January General Fund budget in brief Big three revenues Sales (Transaction Privilege) Taxes – State Shared Revenues – Licenses, Permits & Fees – Overall status through January 2 Sales Taxes Percent of CategoryCurrent MonthCurrent YTDCurrent BudgetBudget Represents 61% of budgeted Mining$ 1,511.44 $ 12,457.50 $ 12,50099.7% Contracting206,732.25 1,111,213.71 2,419,700 45.9% revenue Transportation, Communications, Utilities226,219.23 1,875,834.66 3,204,66858.5% Wholesale Trade68,779.16 203,542.64 282,286 72.1% Current Year over Year (YoY) Retail Trade1,011,997.96 5,479,210.03 8,799,832 62.3% Average Restaurant & Bars176,991.99 1,033,018.32 1,654,71262.4% Fire, Insurance & Real Estate95,525.21 723,829.36 1,060,31568.3% Contracting 4.89% lower Hotels & Other Lodging72,656.85 563,698.30 776,84872.6% Services84,539.50 543,555.22 940,71557.8% Restaurants 6.90% higher Manufacturing9,713.36 76,357.53 160,403 47.6% Retail up 7.85% higher All Others25,082.57 99,985.21 173,79157.5% Tax Audit-35,418.28 350,00010.1% Total Revenue$ 1,979,749.52 $ 11,758,120.76 $ 19,835,77059.3% Transaction Privilege Taxes -Year Over Year Change 150% 110.38% 100% 50% 18.61% 11.76% 8.17% 7.85% 7.66% 6.90% 5.77% 6.64% 5.68% 1.68% 0.19% 0% -0.54% -5.54% -4.89% -9.08% -12.06% -26.75% -30.10% -33.29% -50% Oct-12Nov-12Dec-12Jan-13CY Average ConstructionRetailRestaurantsMonth Avg 1 Shared Revenue Percent CategoryCurrent MonthCurrent YTDCurrent Budgetof Budget Represents 24% of budgeted State Shared Sales Tax$ 279,823.41 $ 1,640,107.27 $ 2,923,447 56.1% Urban Revenue Sharing297,599.25 2,083,194.75 3,570,867 58.3% revenue Auto Lieu Tax110,253.01 738,163.37 1,327,277 55.6% Total Revenue$ 687,675.67 $ 4,461,465.39 $ 7,821,591 57.0% Overall –within expectations Highway User Revenue Fund $1,211517 or 59.8% 0 Licenses, Permits & Fees Current Percent of Represents 7% of budgeted CategoryCurrent MonthCurrent YTDBudgetBudget revenue SFR new permit$ 215,464.65 $ 1,436,545.88 $ 1,155,000 124.4% SFR existing permit542.87 7,787.61 25,000 31.2% Commercial new permit350.00 321,137.74 250,000 128.5% Single Family Residential Commercial existing permit2,458.09 36,631.00 115,000 31.9% Grading permit2,051.31 62,030.46 40,000 155.1% Permits Utility permits1,733.93 28,269.19 1,500 1884.6% Budget –330 Pool permit6,894.36 38,267.47 35,000 109.3% Sign permit2,744.31 11,466.73 20,000 57.3% Actual –344 (through Jan) Patio wall permit2,132.85 14,920.35 12,500 119.4% ROW permit3,103.00 34,831.24 22,250 156.5% Overall –higher than budget Floodplain permit100.00 934.00 500 186.8% Misc. permit10,657.22 102,880.85 80,000 128.6% expectations Franchise fees-81,789.06 325,000 25.2% Business licenses9,960.00 77,512.00 135,000 57.4% Liquor licenses550.00 1,300.00 5,000 26.0% Aggregate mining fee-11,076.47 125,000 8.9% Bank protection fee--500 0.0% Total Revenue$ 258,742.59 $ 2,267,380.05 $ 2,347,250 96.6% Single Family Residence Building Permits 1,832 By Fiscal Year 2,000 1,600 1,218 1,200 744 800 353 425 344 330 342 295 400 198 0 2005200620072008200920102011201220132013 / Budget Overall Summary –January Percent of RevenuesCurrent MonthYear to DateFY2013 BudgetBudget Sales tax revenues $ 1,979,749.52$ 11,758,120.76$ 19,835,77059.3% Intergovernmental revenues 687,675.674,461,465.397,821,59157.0% Licenses, fees & permits 258,742.59 2,267,380.052,347,25096.6% Charges for services36,735.68235,094.79381,10061.7% Fines and forfeiture62,063.60400,634.48570,00070.3% Grants and contributions7,751.0965,178.97102,75063.4% Investment income -17,698.58100,00017.7% Miscellaneous revenues19,871.77230,693.43562,07041.0% Other financing sources--750,000 0.0% Total Revenue3,052,589.9219,436,266.4532,470,53159.9% Expenditures Personnel & benefits 1,659,279.1111,397,708.5820,992,65754.3% Contracted services377,066.461,715,621.464,173,71141.1% Operating supplies & equip112,534.971,112,761.103,674,00430.3% Capital outlay109,122.40 546,962.352,290,90023.9% Transfers out-1,374,066.712,839,25948.4% Total Expenditures$ 2,258,002.94$ 16,147,120.20$ 33,970,53147.5% Net Revenues Over/(Under) $ 3,289,146.25$ (1,500,000)-219.3% Expenditures$ 794,586.98 . 2014 Budget Timeline - Update ITEMDATE Department Operating BudgetsDue03/01/13 RequestReview and Meetings03/14-18/13 Council StudySession(s) –Proposed ComprehensiveFee 03/26/13 Schedule, CIP, Final Revenue Projections Council Meeting -Manager’s Recommended Operating 04/16/13 Budget Presentation Council Meeting -Comprehensive Fee Schedule Update 04/16/13 Presentation Tentative Council Study Session -FY2014 Budget Discussion04/23/13 Council Meeting -Adoption of Tentative Budget05/07/13 Council Meeting -Adopt Fee Schedule Update05/07/13 Council Meeting -Adopt Final Budget06/04/13 - Questions? ,