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Home My WebLink AboutCouncil Presentation 11/17/2020-FY 2020-2021 1st Quarter Financial BriefFISCAL YEAR 2020 - 2021 FIRST QUARTER FINANCIAL BRIEF This financial brief is intended to provide a broad overview and status of revenues and expenditures for the Town's selected major funds through the first quarter of fiscal year 2021 (July 2020 - September 2020). Major funds included in this financial brief are the General Fund, Highway User Revenue Fund HURF), Bed Tax Fund and Transportation Fund. Also included are the enterprise funds Airport, Water, and Water Reclamation. Please note that all amounts are preliminary, un-audited and subject to change based upon adjusting entries, as necessary. The table below shows an overview for each fund. REVENUES EXPENDITURES OVER/UNDER Fund FY 2021 Budget Actual % Budget FY 2021 Budget Actual % Budget YTD Over/Under GENERAL FUND 50,205,356 14,607,515 29% 47,851,333 8,363,363 17% 6,244,152 HURF 3,281,296 1,167,900 36% 4,166,655 340,277 8% 827,623 TRANSPORTATION FUND 5,800,000 2,128,499 37% 21,037,629 109,257 1% 2,019,242 BED TAX FUND 1,104,840 229,611 21% 1,092,603 53,039 5% 176,572 WATER FUND 7,065,276 1,896,034 27% 7,658,018 2,104,615 27% 208,581 WATER RECLAMATION FU... 2,681,248 528,038 20% 2,497,887 258,030 10% 270,008 AIRPORT FUND 585,178 102,554 18% 585,178 77,613 13% 24,941 Click HERE for a User Guide and FAQ about this report Microsoft Power BI 1 of 8 > 1 d / FY 2020-2021 FIRST QUARTER: GENERAL FUND REVENUES Select Revenue orExpens EXPENSES El REVENUES Category FY 2021 Budget Actual % Budget Sales Tax 24,389,464 8,319,808 34% Intergovernmental 13,435,743 3,803,001 28% Licenses, Fees,&Permits 4,427,112 1,538,491 35% Charges for Services 503,000 116,801 23% Other 7,450,037 829,413 11% Total 50,205356 14,607,515 29% OM 1 5 1\/1 50M General Fund Relevant Information The General Fund is the Town's primary operating fund.Sales Tax, Intergovernmental Revenues and Licenses,Fees,&Permits make up 95%of budgeted revenues for the fund.First quarter collections are mostly above expected levels for FY2021 due to stronger than anticipated activity in most categories.Intergovernmental Revenues are amounts received from the State's shared revenue program and are distributed based upon population estimates and economic conditions.Licenses,Fees,&Permits include Single Family Residential(SFR)permit revenue. Other revenues,comprised of various sources include investment income earnings,AMRRP dividends and budgeted transfers-in from AZ CARES funding. Year i 2019 <g 2020 0 2021 1oM Category 2019 2020 2021 Sales Tax 6,790,954 7,431,751 8,319,808 8M Intergovernmental 2,950,239 3,245,275 3,803,001 6M Licenses, Fees, &Permits 1,654,259 1,478,729 1,538,491 4M Charges for Services 134353 115,679 116,801 2M Other 884631 1,039,403 829,413 Total 12,410,437 13,310,837 14,607,515 OM Sales Tax Intergovernmental Licenses,Fees,& Other Permits Microsoft Power BI K 2 of 8 > d / FY 2020-2021 FIRST QUARTER: HURF REVENUES Select Revenue or Expena Li EXPENSES REVENUES Category FY 2021 Budget Actual %Budget Intergovernmental 3,276,296 976,963 30% Charges for Services 0 190,631 0% y Other 5,000 306 6% Total 3,281,296 1,167,900 36% 1FV1 OM :+' 3M HURF Relevant Information The Highway User Revenue Fund or HURF is set by the collection of fees and taxes from users of the State's roads and highways which the State collects.Cities and towns receive a percentage of revenues based on population estimates and gasoline sales within each county.First quarter HURF revenue collections are above forecasted levels.Charges for services are pavement in lieu of fees collected from third parties to be expended for the preservation of roads.Other revenue is comprised of investment income. Year $2019 $2020 02021 Category 2019 2020 2021 tom Intergovernmental 864,915 1,105,129 976,963 Charges for Services 190,631 Other 6,105 7,345 306 Total 871,020 1,112,474 1,167,900 0.5M Intergovernmental Charges for Services Other Microsoft Power BI 3 of 8 ) LE;' / FY 2020-2021 FIRST QUARTER: TRANSPORTATION FUND REVENUES Select Revenue orExpena J EXPENSES REVENUES Category FY 2021 Budget Actual %Budget Sales Tax 5,750,000 2,093,305 36% Other 50,000 35,194 70% Total 5,800,000 2,128,499 37% 2M OM 1 . 6M Transportation Fund Relevant Information The Transportation Fund is comprised of 75%of all contracting taxes collected by the Town and is to be used for new road construction and reconstruction projects.First quarter revenue collections are higher than anticipated due to strong residential housing (258 SFR permits issued vs.617 budgeted for the year)and commercial construction spurred by low interest rates. Other revenue is comprised of investment income. r Year •2019 02020 0 2021 99 z.sM Category 2019 2020 2021 z.OM Sales Tax 1,911,167 2,220,199 2,093,305 Other 61,258 54,128 35,194 15M Total 1,972,426 2,274,327 2,128,499 tom 0.5M 0.0M Sales Tax Other Microsoft Power BI 4 of 8 > I€' 7 FY 2020-2021 FIRST QUARTER: BED TAX FUND REVENUES Select Revenue orExpen! EXPENSES REVENUES Category FY 2021 Budget Actual % Budget Sales Tax 1,104,840 229,611 21% Total 1,104,840 229,611 21% 230K OM 1M Bed Tax Fund Relevant Information The Bed Tax Fund accounts for the collection of the discriminatory portion of revenues restricted for tourism initiatives.First quarter revenue collections for FY2021 are below forecasted levels due to the impact of the pandemic on the hospitality industry.Town staff will continue to monitor these revenues closely over the next few months. Year •2019 02020 02021 0.3M Category 2019 2020 2021 Sales Tax 159,142 273,687 229,611 Total 159,142 273,687 229,611 0.2MIli€ 0.1M rr.m 0.0M Sales Tax Microsoft Power BI 5 of 8 > LE? Li FY 2020-2021 FIRST QUARTER: WATER OPERATING FUND REVENUES Select Revenue orExpenv I EXPENSES S REVENUES Category FY 2021 Budget Actual % Budget Intergovernmental 85,000 Licenses, Fees,&Permits 42,500 170,888 402% z>. Charges for Services 5,655,873 1,704,136 30% Other 1,281,903 21,010 2% Total 7,065,276 1,896,034 27% t iitiiiii i,? iii. iiii LJ OMiiVirnii;::+ 7M Water Fund Relevant Information The current rates and fees for Marana Water customers can be found at-http://www.maranaaz.gov/water-rates-and-fees.Charges for Services(water sales)comprise the majority of the revenue for the fund.First quarter revenue collections are slighly above expectations for FY2021.Licenses,fees,&Permits is above expectations primarily due to fees collected in connection with the Water Treatment Plants construction.Other revenue is primarily comprised of miscellaneous revenue sources and an interfund transfer associated with a WIFA loan payment scheduled to take place later in the fiscal year. Year •2019 2020 e 2021 z.oM Category 2019 2020 2021 Licenses, Fees, &Permits 13,704 170,888 1.5M Charges for Services 1,413,986 1,556,416 1,704,136 Other 69,257 307,474 21,010 1.0M Total 1,496,947 1,863,890 1,896,034 0.5M O.0M r Licenses,Fees,&Permits Charges for Services Other Microsoft Power BI 6 of 8 ) d / FY 2020-2021 FIRST QUARTER: WATER RECLAMATION OPERATING FUND REVENUES Select Revenue or Expen! LI EXPENSES REVENUES Category FY 2021 Budget Actual % Budget Licenses, Fees,&Permits 28,900 37,106 128% Charges for Services 1,841,278 490,877 27% Other 811,070 55 0% Total 2,681,248 528,038 20% 528K OM 3M Water Reclamation Fund Relevant Information The current rates and fees for Marana Sewer customer can be found at-http://www.maranaaz.gov/water-rates-and-fees.Charges for Services(sewer rates)comprise the majority of the revenue for the fund.Overall,preliminary FY2021 first quarter revenue collections are as expected.Licenses, Fees,&Permits are above expectations due to stronger than anticipated growth.The majority of Other revenue is mainly related to budgeted transfers between funds for debt service payments that are scheduled to take place later in the fiscal year. Year •2019 2020 02021 0.5MCategory 2019 2020 2021 o.aM Licenses, Fees,&Permits 10,018 9,439 37,106 Charges for Services 353,359 394,304 490,877 0.3M Other 962 2,167 55 Total 364,340 405,911 528,038 0.2M 0.1M O.OM Licenses,Fees,&Permits Charges for Services Other Microsoft Power 81 7 of 8 > d / FY 2020-2021 FIRST QUARTER: AIRPORT OPERATING FUND REVENUES Select Revenue or Expen! J EXPENSES U REVENUES Category FY 2021 Budget Actual % Budget Charges for Services 360,336 102,288 28% Other 224,842 266 0% Total 585,178 102,554 18% OK 103K 585K Airport Fund Relevant Information Overall,preliminary first quarter revenue collections for the Airport Fund are as expected.Charges for Services comprise of the majority of budgeted operating revenue,while Other revenue is primarily comprised of miscellaneous revenues and transfers between funds scheduled to take place once all fund activity is finalized. Year 02019 A 2020 2021 Category 2019 2020 2021 100K Charges for Services 78,808 72,634 102,288 Other 6,327 2,645 266 Total 85,135 75,279 102,554 SOK f ,' ter; OK Charges for Services Other Microsoft Power BI 8 of 8 > d /