city council meeting agenda 05/04/2015

March 31, 2015
For the first six months of FY 2014-2015, the General Fund has collected 72% of revenues, primarily due to
property taxes. Expenditures through February are 42% of budget. The Fire Department has spent 54% 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 45% of revenues. Actual Enterprise
Fund expenditures are only 41% 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
2,230,882
47%
162,865
38%
3,216,199
45%
647,863
54%
248,734
41%
187,120
36%
358,265
25%
36,256
45%
546,450
56%
7,634,634
45%
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
March 31, 2015
REVENUE - GENERAL FUND
Taxes
Franchise Fees
Solid Waste
Licenses & Permits
Fines & Forefeitures
Department Revenues
Interest & Miscellaneous
TOTAL REVENUE
YTD
ACTUAL
2,555,268
382,157
368,085
45,249
68,400
311,069
22,730
3,752,958
BUDGET
2,810,500
751,450
705,000
128,200
155,400
586,000
101,500
5,238,050
OVER BUDGET
(UNDER) BUDGET
(255,232)
(369,293)
(336,915)
(82,951)
(87,000)
(274,931)
(78,770)
(1,485,092)
$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
72%
$500,000
$Taxes
Franchise Fees
Solid Waste
91%
51%
52%
Licenses & Permits Fines & Forefeitures
35%
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
201,656
741,398
520,477
102,244
123,318
234,276
228,831
130,910
331,790
2,614,900
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
233,365
733,477
452,329
121,863
131,377
300,266
344,671
127,412
303,210
2,747,970
Departmental
Revenues
Interest &
Miscellaneous
53%
22%
44%
50%
Actual
GENERAL FUND EXPENDITURES
BUDGET AND ACTUAL
Budget
$1,400,000
$1,200,000
$1,000,000
$800,000
1,138,058
(124,820)
1,262,878
$600,000
OTHER FINANCING SOURCES (USES)
Transfer In
Transfer Out
TOTAL OTHER SOURCES (USES)
42,500
(350,000)
(307,500)
493,535
(350,000)
143,535
(451,035)
(451,035)
830,558
18,715
811,843
FUND BALANCE - BOY
1,084,287
1,084,287
FUND BALANCE - EOY
1,914,845
1,103,002
CHANGE IN FUND BALANCE
$400,000
$200,000
$-
ACTUAL % OF BUDGETED EXPENDITURES
811,843
Administration Police & Animal
Control
46%
50%
Fire &
Ambulance
Municipal Court
Development
Services
Streets
Parks &
Recreation
Library
Solid Waste
54%
46%
48%
44%
40%
51%
52%
49%
EXPECTED % OF BUDGETED EXPENDITURES
50%
CITY OF SANGER, TEXAS
ENTERPRISE FUND REVENUE & EXPENDITURES
March 31, 2015
REVENUE - ENTERPRISE FUND
Water
Wastewater
Electric
Penalties & Fees
Interest
Miscellaneous
TOTAL REVENUE
YTD ACTUAL
657,857
625,041
3,766,587
99,613
5,586
17,774
5,172,458
BUDGET
1,577,500
1,400,000
8,230,000
215,000
10,000
36,000
11,468,500
OVER BUDGET
(UNDER) BUDGET
(919,643)
(774,959)
(4,463,413)
(115,387)
(4,414)
(18,226)
(6,296,042)
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
45%
$3,000,000
$2,000,000
$1,000,000
$Water*
Wastewater
Electric
Penalties & Fees
Interest
Miscellaneous
42%
45%
46%
46%
56%
49%
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
560,788
816,612
412,173
3,452,471
1,074,886
6,316,930
699,174
678,286
20,888
(70,000)
(83,950)
(42,500)
(196,450)
(250,000)
(25,000)
(120,000)
(150,000)
(85,000)
(630,000)
250,000
25,000
50,000
66,050
42,500
433,550
502,724
48,286
454,438
FUND BALANCE- BOY
4,221,376
4,221,376
FUND BALANCE - EOY
4,724,100
4,269,662
EXPENDITURES - ENTERPRISE FUND
Administration
Water
Wastewater
Electric
Debt Service
TOTAL EXPENDITURES
YTD ACTUAL
470,532
462,018
251,652
3,139,583
149,499
4,473,284
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
50%
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
454,438
Administration
Water
Wastewater
Electric
Debt Service
46%
36%
38%
48%
12%
41%
EXPECTED % OF BUDGETED EXPENDITURES
50%
CITY OF SANGER, TEXAS
CASH AND INVESTMENTS
March 31, 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
2.5%
$
DEBT
SERVICE
FUND
ENTERPRISE
FUND
1,071,857
1,002,025
$ 1,206,961
1,001,181
$
-
CAPITAL
PROJECTS
FUND
$
1,170,342
355,929
100,042
393,013
27,060
5,526
75,449
7,474
962
11,171
$
Equipment
Replacement
1.5%
2,306,561
$
799,736
5,880,248
-
105,037
-
TOTAL
2,278,818
2,003,206
799,736
5,880,248
1,242,501
2,412,843
355,929
205,079
27,060
5,526
75,449
7,474
962
11,171
$ 4,227,468
Cash for Operations
16%
$
1,242,501
$
6,679,984
$ 14,063,501
Of the $14 million in Total Cash:
47% is dedicated to Capital Projects
17% is dedicated to Debt Service
Cash available for operations is $2.278 million or
16% of total cash and investments.
Debt service
17%
Contingency
Reserves for
Operations
14%
General Capital
Projects
6%
Enterprise Capital
Projects
42%
Contengency reserves for operations is $2
million or 14% of total cash and investments.
General Fund unrestricted cash and investments
is $2 million. This amount provides 4.63 months
of working capital.
Enterprise Fund unrestricted cash and
investments is $2.2 million. This amount
provides 2.46 months of working capital.
General Fund
March 31, 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
1,064,881
$
47,532
47,543
13,391
14,536
$
1,125,804
$
1,071,857
$
590,990
$
591,090
GF Contingency Reserve MM 2487969
001-00-1031
GF Contingency Reserve CD Prosperity
001-00-1039
04/26/2015
0.35%
205,396
205,396
GF Contingency Reserve CD 642606
001-00-1043
07/13/2015
0.20%
205,508
205,539
CONTINGENCY RESERVE
GF Equipment Replacement MM 2376237
001-00-1032
GF Equipment Replacement CD 719706
001-00-1033
0.20%
07/06/2015
$
1,001,894
$
1,002,025
$
42,141
$
42,574
Y
62,463
Y
0.40%
EQUIPMENT REPLACEMENT RESERVES
Restricted
1,009,778
62,444
$
104,585
$
105,037
$
27,060
$
27,060
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
24,554
24,953
Y
Library Building Expansion CD 702994
442-00-1035
50,479
50,496
Y
Court Security Restricted Fund
470-00-1000
7,353
7,474
Y
Court Technology Restricted Fund
471-00-1000
926
962
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
$
127,069
$
127,642
TOTAL CASH AND INVESTMENTS
$
2,359,352
$
2,306,561
TOTAL UNRESTRICTED
$
2,127,698
$
2,073,882
Enterprise Fund
March 31, 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
1,148,273
$
1,206,961
$
1,148,273
$
1,206,961
$
50,852
$
55,929
Y
300,000
Y
300,000
0.20%
BOND FUND RESERVES
Restricted
$
$
008-00-1039
Current Balance
350,852
$
1,090,154
355,929
1,170,342
$
1,090,154
$
1,170,342
$
589,529
$
589,629
EF Contingency Reserve MM 2809753
008-00-1012
0.20%
EF Contingency Reserve CD 737860
008-00-1014 02/14/2016
0.40%
308,209
308,315
EF Reserve CD 642541
008-00-1040 03/25/2015
0.25%
103,225
103,237
CONTINGENCY RESERVES
$
EF Storm Recovery MM- 2% Electric Rev
008-00-1033
0.20%
EF Equipment Replacement MM 2376202
008-00-1034
0.20%
One Plus Pooled Cash
008-00-2605
0.05%
1,000,963
$
378,956
$
99,668
$
613
1,001,181
393,013
Y
100,042
Y
-
Y
OTHER
$
479,237
$
493,055
TOTAL CASH AND INVESTMENTS
$
6,303,043
$
4,227,468
TOTAL UNRESTRICTED
$
2,149,236
$
2,208,142
The One Plus Funds were donated to the Sanger Crisis Center on 3-24-15 for assistance to Sanger residents with their utility bills.
Y
Cash and Investments
March 31, 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
$
1,174,846
Current Balance
$
56,727
$
1,231,573
$
Restricted
1,185,764
Y
56,737
Y
1,242,501
GENERAL CAPITAL PROJECTS FUND
Name
Acct. #
Pooled Cash
Maturity
004-00-1000
Yield
0.05%
TOTAL RESTRICTED
Prior Period
Current Balance
$
800,209
$
799,736
$
800,209
$
799,736
Restricted
Y
ENTERPRISE CAPITAL PROJECTS FUND
Name
Acct. #
Maturity
Yield
Prior Period
008-00-1020
0.20%
156,633
Y
Sewer Capital Reserve MM 2380226 Tap Fees
008-00-1038
0.20%
649,534
670,645
Y
Sewer Tap Fees - Pooled Cash
840-00-1000
0.15%
279,465
279,465
Y
$
1,073,940
$
1,106,743
Y
Water Capital Reserve MM 2376156
008-00-1037
0.20%
$
1,204,592
$
1,220,547
Y
Pooled Cash
840-00-1000
0.05%
$
1,640,423
$
1,502,685
Y
General CIP Money Market 2674823
840-00-1013
0.05%
2,050,273
Y
TOTAL RESTRICTED
144,941
$
Restricted
Sewer Capital Improvements MM-10% Rev
SEWER CAPITAL RESERVE - TAP FEES
$
Current Balance
2,050,185
$
5,969,140
$
5,880,248
4A FUND
Cash and Investments
March 31, 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
150,732
Y
595,619
590,514
Y
0.20%
466,318
466,389
Y
0.25%
93,875
93,893
Y
$
1,306,544
$
Restricted
194,362
TOTAL CASH AND INVESTMENTS
$
$
1,345,158
4B FUND
Cash and Investments
March 31, 2015
Balance
Name
Acct. #
Maturity
Yield
Prior Period
124,789
$
Restricted
Pooled Cash
42-00-1000
0.05%
154,630
Y
Cash MM 2379694
42-00-1010
0.05%
189,373
189,381
Y
4B CD 653500
42-00-1013
04/03/2015
0.40%
21,467
21,474
Y
4B CD 659924
42-00-1014
05/12/2015
0.40%
21,226
21,233
Y
4B CD 664243
42-00-1015
06/05/2015
0.40%
21,315
21,321
Y
4B CD 673277
42-00-1016
07/09/2015
0.40%
21,265
21,271
Y
4B CD 686115
42-00-1017
08/14/2015
0.40%
21,215
21,222
Y
4B CD 689521
42-00-1018
09/11/2015
0.40%
21,134
21,140
Y
4B CD 694371
42-00-1019
10/14/2015
0.45%
21,205
21,212
Y
4B CD 697230
42-00-1020
11/17/2015
0.45%
21,321
21,328
Y
4B CD 699934
42-00-1021
12/18/2015
0.45%
21,241
21,249
Y
4B CD 702285
42-00-1022
01/31/2016
0.45%
21,054
21,061
Y
4B CD 706078
42-00-1023
02/19/2016
0.45%
20,962
20,969
Y
4B CD 720097
42-00-1024
11/09/2015
0.45%
20,731
20,737
Y
4B CD 720119
42-00-1025
11/09/2015
0.45%
20,761
Y
TOTAL CASH AND INVESTMENTS
$
Current Balance
20,754
$
589,052
$
618,989
CITY OF SANGER, TEXAS
INVESTMENT REPORT
March 31, 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