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Home My WebLink About09/16/2014 Council Presentation-FY2014 Financial Update_YE Preliminary ResFY2014 General Fund Financial Update – Preliminary Results Erik Montague, CPA Finance Director September 16, 2014 1 FY2014 Financial Update Preliminary General Fund results  Big three revenues  Transaction Privilege (Sales) Taxes – State Shared Revenues – Licenses, Permits & Fees – Overall status through June 2014  2 Transaction Privilege Taxes Percent of Represents 60% of  CategoryCurrent MonthCurrent YTDCurrent BudgetBudget budgeted revenue Mining$ 803.07 $ 9,822.81 $ 15,000 65.5% Contracting109,654.17 1,584,542.28 1,194,959 132.6% Transportation, Construction 28.7% YoY  Communications, Utilities269,211.24 3,174,487.71 3,374,515 94.1% Wholesale Trade11,805.37 204,658.31 292,166 70.0% Retail 3.0% YoY  Retail Trade767,807.62 9,549,613.65 9,078,225 105.2% Restaurant & Bars151,629.70 1,849,097.90 1,810,255 102.1% Restaurants 2.6% YoY  Fire, Insurance & Real Estate96,454.30 1,269,703.11 1,271,318 99.9% Hotels & Other Lodging99,070.34 1,241,946.28 901,144 137.8% Overall 6.8% YoY  Services82,713.77 1,031,548.46 986,810 104.5% Manufacturing16,779.09 102,961.61 145,967 70.5% All Others19,993.51 215,287.89 177,962 121.0% Tax Audit1,397.47 267,869.03 250,000 107.1% Total Revenue$ 1,627,319.65 $ 20,501,539.04 $ 19,498,321 105.1% Transaction Privilege Taxes -Year Over Year Change 60% 46.3% 40% 28.7% 20% 8.9% 6.8% 3.8% 3.0% 2.6% 2.4% 1.0% 0.7% 0.3% 0% -0.3% -2.4% -4.8% -20% -21.8% -21.9% -40% Apr-14May-14Jun-14CY Average 3 ConstructionRetailRestaurantsMonth Avg Transaction Privilege Taxes Town of Marana, Arizona Monthly Tax Collects by Major Type (Jul 2006 -June 2014) 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Jul-06Jan-07Jul-07Jan-08Jul-08Jan-09Jul-09Jan-10Jul-10Jan-11Jul-11Jan-12Jul-12Jan-13Jul-13Jan-14 ConstructionTransportation, Communications, Utilities Retail TradeRestaurant & Bars Fire, Insurance & Real EstateHotels & Other Lodging 4 State Shared Revenue Percent of CategoryCurrent MonthCurrent YTDCurrent BudgetBudget Represents 20% of budgeted  State Shared Sales Tax$ 258,378.61 $ 3,043,102.01 $ 3,020,895 100.7% revenue Urban Revenue Sharing324,924.09 3,896,847.17 3,900,421 99.9% Auto Lieu Tax114,128.44 1,332,590.77 1,312,917 101.5% Overall –within expectations  Total Revenue$ 697,431.14 $ 8,272,539.95 $ 8,234,233 100.5% Highway User Revenue Fund  $2,286,487.85 or 112.9%  State Shared Revenue 4.5 Millions 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 200920102011201220132014 State Shared Sales TaxUrban Revenue SharingAuto Lieu Tax 5 Licenses, Permits & Fees Percent Current of Represents 10% of  CategoryCurrent MonthCurrent YTDBudgetBudget budgeted revenue SFR new permit$ 185,342.98 $ 2,272,988.47 $ 2,035,000 111.7% SFR existing permit3,662.94 14,066.46 12,500 112.5% Single Family Residential  Commercial new permit18,268.62 145,604.57 250,000 58.2% Commercial existing permit(603.74)80,125.60 57,500 139.3% Permits for 2014 Grading permit(60,276.93)71,687.54 72,000 99.6% Budget –550  Utility permits6,201.36 45,633.22 24,000 190.1% Actual –597 Pool permit6,779.16 70,340.21 35,000 201.0%  Sign permit4,879.46 25,332.44 15,000 168.9% Patio wall permit1,913.50 15,416.20 20,000 77.1% ROW permit61,459.72 93,356.61 22,250 419.6% Floodplain permit(726.00)7,203.42 750 960.5% Misc. permit15,925.72 179,230.34 105,000 170.7% Single Family Residence Franchise fees94,737.02 377,069.08 325,000 116.0% Business licenses20,220.50 171,048.15 139,725 122.4% Building Permits Liquor licenses500.00 2,625.00 5,000 52.5% 800 Host fees91,162.84 299,473.51 75,000 399.3% 692 Bank protection fee--500 0.0% 550 597 Total Revenue$ 449,447.15 $ 3,871,200.82 $ 3,194,225 121.2% Licenses, Permits and Fee Revenue 425 400 6.0 Millions 4.0 2.0 0 0.0 2012201320142014 200920102011201220132014 Budget 6 Licenses, fees and permits General Fund Summary Percent of RevenuesCurrent MonthYear to DateFY2014 BudgetBudget Sales tax revenues $ 1,627,319.65 $ 20,501,539.04 $ 19,498,321 105.1% Intergovernmental revenues 697,431.14 8,273,207.31 8,244,233 100.4% Licenses, fees & permits 449,447.15 3,871,200.82 3,194,225 121.2% Charges for services25,042.62 467,279.93 396,701 117.8% Fines and forfeiture57,287.44 634,075.39 625,000 101.5% Grants and contributions16,414.72 143,146.44 116,525 122.8% Investment income 12,713.10 96,888.66 100,000 96.9% Miscellaneous revenues339,703.92 575,240.74 504,570 114.0% Total Revenue3,225,359.74 34,562,578.33 32,679,575 105.8% Expenditures Personnel & benefits 2,554,883.38 21,784,809.50 22,036,602 98.9% Contracted services424,500.99 3,603,607.64 4,178,550 86.2% Operating supplies & equip414,035.26 2,208,940.02 2,259,265 97.8% Capital outlay210,339.01 1,351,195.78 1,479,522 91.3% Transfers out1,610,672.10 2,461,003.78 2,725,636 90.3% Total Expenditures$ 5,214,430.74 $ 31,409,556.72 $ 32,679,575 96.1% Net Revenues Over/(Under)$ (1,989,071.00)$ 3,153,021.61 $ -0.0% 7 Note –Numbers are preliminary, unaudited and subject to change based upon closing entries and audit adjustments. General Fund Balances $24.1 $25 Millions $20.9 $20.2 $18.3 $20 $16.4 $15.1 $14.5 $15 $10 $5 $- 2007-20082008-20092009-20102010-20112011-20122012-132013-14 Estimated Fund BalanceRequired Reserve 8 Note –2014 numbers are preliminary, unaudited and subject to change based upon closing entries and audit adjustments. Questions? 9