QEQQ/z - sangertexas.org

April 30, 2015
For the first seven months of FY 2014-2015, the General Fund has collected 78% of revenues, primarily due
to property taxes. Expenditures are 55% of budget. The Fire Department has spent 60% of budgeted
expenditures due to making the $107,000 lease payment for an ambulance and brush truck in October.
For the first six months of the fiscal year, the Enterprise Fund collected 52% of revenues. Actual Enterprise
Fund expenditures are only 48% of budgeted expenditures due to the seasonal nature of utilities.
Expenditures by Classification
Salaries & Benefits
Supplies & Materials
Maintenance & Operations
Contract Services
Utilities
Capital Expenses
Debt Service
Other Department Expense
Transfers
Total
Budget
4,750,672 $
430,759
7,134,885
1,202,682
601,350
518,124
1,433,155
81,457
980,000
$ 17,133,084 $
$
Actual
Percent of Budget
2,565,415
54%
198,240
46%
3,716,297
52%
728,185
61%
289,473
48%
236,533
46%
358,265
25%
34,563
42%
579,194
59%
8,706,165
51%
Contract Services is high because it includes the annual payment for Workers Compensation, Property, and
Liability Insurance of $144,318. Transfers are high because $350,000 of property tax dedicated to street
maintenance was transferred from the General Fund to the CIP fund in February.
CITY OF SANGER, TEXAS
GENERAL FUND REVENUE & EXPENDITURES
April 30, 2015
REVENUE - GENERAL FUND
Taxes
Franchise Fees
Solid Waste
Licenses & Permits
Fines & Forefeitures
Department Revenues
Interest & Miscellaneous
TOTAL REVENUE
YTD
ACTUAL
2,625,263
458,920
429,754
57,696
79,615
372,701
67,512
4,091,461
BUDGET
2,810,500
751,450
705,000
128,200
155,400
586,000
101,500
5,238,050
OVER BUDGET
(UNDER) BUDGET
(185,237)
(292,530)
(275,246)
(70,504)
(75,785)
(213,299)
(33,988)
(1,146,589)
$3,000,000
Actual
Budget
GENERAL FUND REVENUE
1,671,380
BUDGET AND ACTUAL
Property
All other
100.00%
100.00%
2,910,970
-
$2,500,000
4,582,350
#REF!
$2,000,000
$1,500,000
$1,000,000
ACTUAL % OF BUDGETED REVENUE
78%
$500,000
$Taxes
Franchise Fees
Solid Waste
93%
61%
61%
Licenses & Permits Fines & Forefeitures
45%
EXPECTED % OF BUDGETED REVENUE
EXPENDITURES - GENERAL FUND
Administration
Police & Animal Control
Fire & Ambulance
Municipal Court
Development Services
Streets
Parks & Recreation
Library
Solid Waste
TOTAL EXPENDITURES
YTD
ACTUAL
230,450
830,909
582,481
117,839
141,071
259,503
272,723
148,511
387,767
2,971,254
REVENUE OVER (UNDER)
EXPENDITURES
BUDGET
435,021
1,474,875
972,806
224,107
254,695
534,542
573,502
258,322
635,000
5,362,870
(OVER) BUDGET
UNDER BUDGET
204,571
643,966
390,325
106,268
113,624
275,039
300,779
109,811
247,233
2,391,616
Departmental
Revenues
Interest &
Miscellaneous
64%
67%
51%
58%
Actual
GENERAL FUND EXPENDITURES
BUDGET AND ACTUAL
Budget
$1,400,000
$1,200,000
$1,000,000
$800,000
1,120,207
(124,820)
1,245,027
$600,000
OTHER FINANCING SOURCES (USES)
Transfer In
Transfer Out
TOTAL OTHER SOURCES (USES)
49,583
(350,000)
(300,417)
493,535
(350,000)
143,535
(443,952)
(443,952)
819,790
18,715
801,075
FUND BALANCE - BOY
1,084,287
1,084,287
FUND BALANCE - EOY
1,904,077
1,103,002
CHANGE IN FUND BALANCE
$400,000
$200,000
$-
ACTUAL % OF BUDGETED EXPENDITURES
801,075
Administration Police & Animal
Control
53%
56%
Fire &
Ambulance
Municipal Court
Development
Services
Streets
Parks &
Recreation
Library
Solid Waste
60%
53%
55%
49%
48%
57%
61%
55%
EXPECTED % OF BUDGETED EXPENDITURES
58%
CITY OF SANGER, TEXAS
ENTERPRISE FUND REVENUE & EXPENDITURES
April 30, 2015
REVENUE - ENTERPRISE FUND
Water
Wastewater
Electric
Penalties & Fees
Interest
Miscellaneous
TOTAL REVENUE
YTD ACTUAL
773,963
738,611
4,361,211
116,107
6,476
20,200
6,016,568
BUDGET
1,577,500
1,400,000
8,230,000
215,000
10,000
36,000
11,468,500
OVER BUDGET
(UNDER) BUDGET
(803,537)
(661,389)
(3,868,789)
(98,893)
(3,524)
(15,800)
(5,451,932)
ACTUAL
BUDGET
ENTERPRISE FUND REVENUE
BUDGET AND ACTUAL
$9,000,000
$8,000,000
$7,000,000
$6,000,000
$5,000,000
ACTUAL % OF BUDGETED REVENUE
$4,000,000
52%
$3,000,000
$2,000,000
$1,000,000
$Water*
Wastewater
Electric
Penalties & Fees
Interest
Miscellaneous
49%
53%
53%
54%
65%
56%
EXPECTED % OF BUDGETED REVENUE
BUDGET
1,031,320
1,278,630
663,825
6,592,054
1,224,385
10,790,214
(OVER) BUDGET
UNDER BUDGET
493,602
690,131
376,797
2,999,079
1,074,886
5,634,495
860,849
678,286
182,563
(81,667)
(97,942)
(49,583)
(229,192)
(250,000)
(25,000)
(120,000)
(150,000)
(85,000)
(630,000)
250,000
25,000
38,333
52,058
35,417
400,808
631,657
48,286
583,371
FUND BALANCE- BOY
4,221,376
4,221,376
FUND BALANCE - EOY
4,853,033
4,269,662
EXPENDITURES - ENTERPRISE FUND
Administration
Water
Wastewater
Electric
Debt Service
TOTAL EXPENDITURES
YTD ACTUAL
537,718
588,499
287,028
3,592,975
149,499
5,155,719
REVENUE OVER (UNDER)
EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfer to General Fund
Transfer to 4A
Transfer to WW CIP Reserve
Transfers to Storm Recovery Fund
Transfer to General Fund - PILOT
TOTAL OTHER SOURCES (USES)
CHANGE IN FUND BALANCE
58%
Actual
ENTERPRISE FUND EXPENDITURES
BUDGET AND ACTUAL
Budget
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
-
$-
ACTUAL % OF BUDGETED EXPENDITURES
583,371
Administration
Water
Wastewater
Electric
Debt Service
52%
46%
43%
55%
12%
48%
EXPECTED % OF BUDGETED EXPENDITURES
58%
CITY OF SANGER, TEXAS
CASH AND INVESTMENTS
April 30, 2015
GENERAL
FUND
Unrestricted:
Cash for Operations
Contingency Reserves for Operations
Capital Projects:
General Capital Projects
Enterprise Capital Projects
Restricted:
Debt service
Water Deposits
Equipment Replacement
Electric Storm Recovery
Hotel Occupancy Tax
Keep Sanger Beautiful (KSB)
Library
Court Security
Court Technology
Donations
TOTAL CASH AND INVESTMENTS
Water Deposits
3%
Debt service
15%
Enterprise Capital
Projects
42%
$
DEBT
SERVICE
FUND
ENTERPRISE
FUND
992,430
1,002,334
$ 1,312,825
1,001,413
$
-
CAPITAL
PROJECTS
FUND
$
$
796,310
5,840,103
997,874
355,736
100,416
407,069
146,941
-
TOTAL
2,305,255
2,003,747
796,310
5,840,103
1,048,128
2,046,002
355,736
247,357
32,414
5,526
75,468
7,624
1,060
11,171
$
Equipment
Replacement
2%
2,274,968
32,414
5,526
75,468
7,624
1,060
11,171
$ 4,175,333
Cash for Operations
17%
$
1,048,128
$
6,636,413
$ 13,727,773
Of the $13.7 million in Total Cash:
48% is dedicated to Capital Projects
15% is dedicated to Debt Service
Cash available for operations is $2.3 million or
17% of total cash and investments.
Contingency
Reserves for
Operations
15%
General Capital
Projects
6%
Contengency reserves for operations is $2
million or 15% of total cash and investments.
General Fund unrestricted cash and investments
is $2 million. This amount provides 4.46 months
of working capital.
Enterprise Fund unrestricted cash and
investments is $2.3 million. This amount
provides 2.57 months of working capital.
General Fund
April 30, 2015
Name
Acct. #
Maturity
Yield*
Pooled Cash
001-00-1000
0.05%
Employee Benefits Fund
110-00-1000
0.20%
Internal Service Fund
180-00-1000
OPERATING ACCOUNTS
0.20%
Prior Period
$
Current Balance
1,009,778
$
47,543
47,552
14,536
300
$
1,071,857
$
992,430
$
591,090
$
591,187
GF Contingency Reserve MM 2487969
001-00-1031
GF Contingency Reserve CD Prosperity
001-00-1039
04/26/2015
0.35%
205,396
205,573
GF Contingency Reserve CD 642606
001-00-1043
07/13/2015
0.20%
205,539
205,574
CONTINGENCY RESERVE
GF Equipment Replacement MM 2376237
001-00-1032
GF Equipment Replacement CD 719706
001-00-1033
0.20%
07/06/2015
$
1,002,025
$
1,002,334
$
42,574
$
84,457
Y
62,484
Y
0.40%
EQUIPMENT REPLACEMENT RESERVES
Restricted
944,578
62,463
$
105,037
$
146,941
$
27,060
$
32,414
Y
Hotel Occupancy Tax
050-00-1000
Beautification Board - KSB
432-00-1000
5,526
5,526
Y
Library Restricted for Building Expansion
442-00-1000
24,953
24,953
Y
Library Building Expansion CD 702994
442-00-1035
50,496
50,515
Y
Court Security Restricted Fund
470-00-1000
7,474
7,624
Y
Court Technology Restricted Fund
471-00-1000
962
1,060
Y
Police Donations
620-00-1000
3,910
3,910
Y
Fire Donations
624-00-1000
3,075
3,075
Y
Banner Account for Parks
632-00-1000
2,536
2,536
Y
Library Donations
642-00-1000
1,650
1,650
Y
01/22/2016
0.40%
OTHER
$
127,642
$
133,263
TOTAL CASH AND INVESTMENTS
$
2,306,561
$
2,274,968
TOTAL UNRESTRICTED
$
2,073,882
$
1,994,764
Enterprise Fund
April 30, 2015
Name
Pooled Cash
Acct. #
Maturity
008-00-1010
Yield
0.05%
OPERATING ACCOUNTS
Pooled Cash
008-00-1010
0.05%
Water Deposit CD 2375850
008-00-1041 01/03/2016
0.40%
WATER DEPOSIT REFUND ACCOUNT
Combined EF Debt Service MM 2376113
Prior Period
1,206,961
$
1,312,825
$
1,206,961
$
1,312,825
$
55,929
$
55,736
Y
300,000
Y
300,000
0.20%
BOND FUNDS
355,929
$
1,170,342
355,736
997,874
$
1,170,342
$
997,874
$
589,629
$
589,726
EF Contingency Reserve MM 2809753
008-00-1012
0.20%
EF Contingency Reserve CD 737860
008-00-1014 02/14/2016
0.40%
308,315
308,432
EF Reserve CD 642541
008-00-1040 03/25/2015
0.25%
103,237
103,255
CONTINGENCY RESERVES
$
EF Storm Recovery MM- 2% Electric Rev
008-00-1033
0.20%
EF Equipment Replacement MM 2376202
008-00-1034
0.20%
Restricted
$
$
008-00-1039
Current Balance
1,001,181
$
393,013
Y
1,001,413
407,069
Y
Y
$
100,042
$
100,416
OTHER
$
493,055
$
507,485
TOTAL CASH AND INVESTMENTS
$
6,461,032
$
4,175,333
TOTAL UNRESTRICTED
$
2,208,142
$
2,314,238
Cash and Investments
April 30, 2015
DEBT SERVICE FUND
Name
Acct. #
Maturity
Yield
Pooled Cash
003-00-1000
0.05%
DSF Money Market 2376105
003-00-1010
0.20%
TOTAL RESTRICTED
Prior Period
$
1,185,764
Current Balance
$
56,737
$
1,242,501
$
Restricted
991,382
Y
56,746
Y
1,048,128
GENERAL CAPITAL PROJECTS FUND
Name
Acct. #
Pooled Cash
Maturity
004-00-1000
Yield
0.05%
TOTAL RESTRICTED
Prior Period
Current Balance
$
799,736
$
796,310
$
799,736
$
796,310
Restricted
Y
ENTERPRISE CAPITAL PROJECTS FUND
Name
Acct. #
Maturity
Yield
Sewer Capital Improvements MM-10% Rev
008-00-1020
0.20%
Sewer Capital Reserve MM 2380226 Tap Fees
008-00-1038
0.20%
SEWER CAPITAL RESERVE - TAP FEES
Prior Period
$
156,633
Current Balance
$
950,110
Restricted
168,325
Y
962,224
Y
$
1,106,743
$
1,130,549
Y
Water Capital Reserve MM 2376156
008-00-1037
0.20%
$
1,220,547
$
1,227,498
Y
Pooled Cash
840-00-1000
0.05%
$
1,502,685
$
1,431,699
Y
General CIP Money Market 2674823
840-00-1013
0.05%
2,050,357
Y
TOTAL RESTRICTED
2,050,273
$
5,880,248
$
5,840,103
4A FUND
Cash and Investments
April 30, 2015
Name
Acct. #
Maturity
Yield
Pooled Cash
41-00-1000
0.05%
Cash NOW 900020693 Prosperity
41-00-1010
0.00%
4A MM 902551273 Prosperity
41-00-1012
Sanger TX Ind Corp CD 486639
41-00-1013
04/02/2015
Prior Period
Current Balance
194,362
Y
590,514
585,408
Y
0.20%
466,389
466,469
Y
0.25%
93,893
93,913
Y
$
1,345,158
$
Restricted
205,672
TOTAL CASH AND INVESTMENTS
$
$
1,351,462
4B FUND
Cash and Investments
April 30, 2015
Balance
Name
Acct. #
Maturity
Yield
Prior Period
154,630
$
Restricted
Pooled Cash
42-00-1000
0.05%
183,959
Y
Cash MM 2379694
42-00-1010
0.05%
189,381
189,389
Y
4B CD 653500
42-00-1013
04/03/2015
0.40%
21,474
21,481
Y
4B CD 659924
42-00-1014
05/12/2015
0.40%
21,233
21,240
Y
4B CD 664243
42-00-1015
06/05/2015
0.40%
21,321
21,328
Y
4B CD 673277
42-00-1016
07/09/2015
0.40%
21,271
21,279
Y
4B CD 686115
42-00-1017
08/14/2015
0.40%
21,222
21,229
Y
4B CD 689521
42-00-1018
09/11/2015
0.40%
21,140
21,148
Y
4B CD 694371
42-00-1019
10/14/2015
0.45%
21,212
21,220
Y
4B CD 697230
42-00-1020
11/17/2015
0.45%
21,328
21,336
Y
4B CD 699934
42-00-1021
12/18/2015
0.45%
21,249
21,257
Y
4B CD 702285
42-00-1022
01/31/2016
0.45%
21,061
21,069
Y
4B CD 706078
42-00-1023
02/19/2016
0.45%
20,969
20,977
Y
4B CD 720097
42-00-1024
11/09/2015
0.45%
20,737
20,745
Y
4B CD 720119
42-00-1025
11/09/2015
0.45%
20,769
Y
TOTAL CASH AND INVESTMENTS
$
Current Balance
20,761
$
618,989
$
648,426
CITY OF SANGER, TEXAS
INVESTMENT REPORT
April 30, 2015
The Monthly Investment Report is in full compliance with the objectives, restrictions, and strategies as set
forth in the City of Sanger's Investment Policy and Texas Government Code 2256.023, the Public Funds
Investment Act (PFIA).
The City only invests in Money Market accounts and Certificates of Deposit. Interest is paid monthly on all
accounts. Therefore, book value and market value are the same and the City does not have accrued
interest on its investments.
Ethics Disclosure and Conflicts of Interest
In accordance with the PFIA, investment officers are required to file a disclosure statement with the Texas
Ethics Commission and the governing body if:
a. the officer has a business relationship with a business organization offering to engage in
an investment transaction with the City (as defined in 2256.005 (i) (1-3); or
b. the officer is related within the second degree by affinity or consanguinity, as determined
under Chapter 573 of the Texas Government Code, to an individual seeking to transact
investment business with the entity. PFIA 2256.005 (i).
Mike Brice has a relationship with First United Bank that consists solely of a personal checking and
savings account and a home mortgage.
Cheryl Davenport has no business relationships with any organizations offering to engage in an
investment transaction with the City.
Cheryl Davenport
Cheryl Davenport
Finance Director
Mike Brice
Mike Brice
City Manager