city council meeting agenda 03/02/2015

Transcription

January 31, 2015
For the first four months of FY 2014-2015, the General Fund has collected 55% of revenues, primarily due to
property taxes (75% collected through January). Expenditures through Janauary are 31% of budget. The Fire
Department has spent 40% of budgeted expenditures through January due to making the $107,000 lease
payment for an ambulance and brush truck in October.
For the first four months of the fiscal year, the Enterprise Fund collected 31% of revenues. Actual Enterprise
Fund expenditures are only 27% of budgeted expenditures through Janauary 2015 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
$ 4,770,670
430,759
7,134,885
1,182,682
601,350
518,124
1,433,155
81,457
980,000
$ 17,133,082
Actual
Percent of Budget
$ 1,561,905
33%
104,372
24%
2,196,597
31%
444,006
38%
169,636
28%
33,984
7%
146,197
10%
27,186
33%
130,967
13%
$ 4,814,850
28%
Contract Services is high because it includes the annual payment for Workers Compensation, Property, and
Liability Insurance of $144,318.
CITY OF SANGER, TEXAS
GENERAL FUND REVENUE & EXPENDITURES
January 31, 2015
REVENUE - GENERAL FUND
Taxes
Franchise Fees
Solid Waste
Licenses & Permits
Fines & Forefeitures
Department Revenues
Interest & Miscellaneous
TOTAL REVENUE
YTD
ACTUAL
2,109,647
215,470
244,672
27,010
50,407
168,077
42,355
2,857,638
BUDGET
2,810,500
751,450
705,000
128,200
155,400
586,000
101,500
5,238,050
OVER BUDGET
(UNDER) BUDGET
(700,853)
(535,980)
(460,328)
(101,190)
(104,993)
(417,923)
(59,145)
(2,380,412)
$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
55%
$500,000
$Taxes
Franchise Fees
Solid Waste
75%
29%
35%
Licenses & Permits Fines & Forefeitures
21%
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
146,144
450,831
388,975
73,019
81,841
117,263
144,420
88,364
220,081
1,710,938
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
288,877
1,024,044
583,831
151,088
172,854
417,279
429,082
169,958
414,919
3,651,932
Departmental
Revenues
Interest &
Miscellaneous
29%
42%
32%
33%
Actual
GENERAL FUND EXPENDITURES
BUDGET AND ACTUAL
Budget
$1,400,000
$1,200,000
$1,000,000
$800,000
1,146,700
(124,820)
1,271,520
$600,000
OTHER FINANCING SOURCES (USES)
Transfer In
Transfer Out
TOTAL OTHER SOURCES (USES)
-
493,535
(350,000)
143,535
CHANGE IN FUND BALANCE
1,146,700
18,715
FUND BALANCE - BOY
1,084,287
1,084,287
FUND BALANCE - EOY
2,230,987
1,103,002
(493,535)
350,000
(143,535)
$400,000
$200,000
1,127,985
$-
ACTUAL % OF BUDGETED EXPENDITURES
1,127,985
Administration Police & Animal
Control
34%
31%
Fire &
Ambulance
Municipal Court
Development
Services
Streets
Parks &
Recreation
Library
Solid Waste
40%
33%
32%
22%
25%
34%
35%
32%
EXPECTED % OF BUDGETED EXPENDITURES
33%
ENTERPRISE FUND REVENUE & EXPENDITURES
January 31, 2015
REVENUE - ENTERPRISE FUND
Water
Wastewater
Tap Fees
Electric
Penalties & Fees
Interest
Miscellaneous
TOTAL REVENUE
YTD ACTUAL
445,517
416,162
74,250
2,586,604
67,375
3,904
9,116
3,602,928
BUDGET
1,577,500
1,400,000
8,230,000
215,000
10,000
36,000
11,468,500
OVER BUDGET
(UNDER) BUDGET
(1,131,983)
(983,838)
74,250
(5,643,396)
(147,625)
(6,096)
(26,884)
(7,865,572)
ACTUAL
ENTERPRISE FUND REVENUE
BUDGET AND ACTUAL
BUDGET
$9,000,000
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
ACTUAL % OF BUDGETED REVENUE
31%
$3,000,000
$2,000,000
$1,000,000
$Water*
Wastewater
28%
30%
Tap Fees
Electric
Penalties &
Fees
Interest
Miscellaneous
31%
31%
39%
25%
EXPECTED % OF BUDGETED REVENUE
EXPENDITURES - ENTERPRISE FUND
Administration
Water
Wastewater
Electric
Debt Service
TOTAL EXPENDITURES
YTD ACTUAL
341,023
318,462
188,281
2,085,982
39,201
2,972,949
REVENUE OVER (UNDER)
EXPENDITURES
BUDGET
1,031,320
1,278,630
663,825
6,592,054
1,224,385
10,790,214
(OVER) BUDGET
UNDER BUDGET
690,297
960,168
475,544
4,506,072
1,185,184
7,817,265
678,286
(48,307)
(46,667)
(55,967)
(28,333)
(130,967)
(250,000)
(25,000)
(120,000)
(150,000)
(85,000)
(630,000)
250,000
25,000
73,333
94,033
56,667
499,033
499,012
48,286
450,726
FUND BALANCE- BOY
6,396,554
6,396,554
FUND BALANCE - EOY
6,895,566
6,444,840
CHANGE IN FUND BALANCE
Actual
ENTERPRISE FUND EXPENDITURES
BUDGET AND ACTUAL
Budget
$7,000,000
$6,000,000
$5,000,000
629,979
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)
33%
$4,000,000
$3,000,000
$2,000,000
$1,000,000
-
$-
ACTUAL % OF BUDGETED EXPENDITURES
450,726
Administration
Water
Wastewater
Electric
Debt Service
33%
25%
28%
32%
3%
28%
EXPECTED % OF BUDGETED EXPENDITURES
33%
CASH AND INVESTMENTS
January 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
Hotel Occupancy Tax
Keep Sanger Beautiful (KSB)
Library
Court Security
Court Technology
Donations
TOTAL CASH AND INVESTMENTS
Water Deposits
3%
Debt service
17%
$
1,263,594
1,001,768
$ 1,155,401
1,000,754
$
-
CAPITAL
PROJECTS
FUND
$
104,132
27,060
5,526
74,613
7,251
915
11,071
$
Equipment
Replacement
2%
2,495,930
-
TOTAL
$
330,111
5,989,611
1,009,998
347,051
99,296
$ 3,613,113
1,225,762
Cash for Operations
16%
$
1,225,762
2,418,995
2,002,522
330,111
5,989,611
2,235,760
347,051
203,428
27,060
5,526
74,613
7,251
915
11,684
613
$
6,319,722
$ 13,654,527
Of the $14.7 million in Total Cash:
50% is dedicated to Capital Projects
15% is dedicated to Debt Service
Cash available for operations is $2.4 million or
16% of total cash and investments.
Contingency
Reserves for
Operations
15%
General Capital
Projects
2%
Enterprise Capital
Projects
48%
DEBT
SERVICE
FUND
ENTERPRISE
FUND
Contengency reserves for operations is $2
million or 14% of total cash and investments.
General Fund unrestricted cash and investments
is $2.265 million. This amount provides 5.07
months of working capital.
Enterprise Fund unrestricted cash and
investments is $2.156 million. This amount
provides 2.4 months of working capital.
General Fund
January 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
331,073
$
47,525
48,146
12,616
15,378
$
391,214
$
1,263,594
$
590,799
$
590,899
GF Contingency Reserve MM 2487969
001-00-1031
GF Contingency Reserve CD Prosperity
001-00-1039
04/26/2015
0.35%
205,215
205,396
GF Contingency Reserve CD 642606
001-00-1043
07/13/2015
0.20%
205,437
205,473
CONTINGENCY RESERVE
GF Equipment Replacement MM 2376237
001-00-1032
GF Equipment Replacement CD 719706
001-00-1033
0.20%
07/06/2015
$
1,001,451
$
1,001,768
$
36,364
$
41,710
Y
62,422
Y
0.40%
EQUIPMENT REPLACEMENT RESERVES
Restricted
1,200,070
62,401
$
98,765
$
104,132
$
24,648
$
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
24,154
24,154
Y
Library Building Expansion CD 702994
442-00-1035
50,442
50,459
Y
Court Security Restricted Fund
470-00-1000
7,258
7,251
Y
Court Technology Restricted Fund
471-00-1000
980
915
Y
Police Donations
620-00-1000
3,910
3,910
Y
Fire Donations
624-00-1000
2,775
2,975
Y
Banner Account for Parks
632-00-1000
2,536
2,536
Y
Library Donations
642-00-1000
1,650
1,650
Y
02/22/2015
0.40%
OTHER
$
123,879
$
126,436
$
1,615,309
$
2,495,930
TOTAL UNRESTRICTED
$
1,392,665
$
2,265,362
Enterprise Fund
January 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
1,392,346
$
1,155,401
$
1,392,346
$
1,155,401
$
50,884
$
47,051
Y
300,000
Y
300,000
0.20%
BOND FUND RESERVES
350,884
$
928,778
347,051
1,009,998
$
928,778
$
1,009,998
$
589,338
$
589,438
EF Contingency Reserve MM 2809753
008-00-1012
0.20%
EF Contingency Reserve CD 737860
008-00-1014 02/14/2016
0.40%
307,999
308,104
EF Reserve CD 642541
008-00-1040 03/25/2015
0.25%
103,199
103,212
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%
Restricted
$
$
008-00-1039
Current Balance
1,000,536
$
350,856
$
98,922
$
613
Y
1,000,754
364,908
Y
99,296
Y
613
Y
OTHER
$
450,391
$
464,817
$
6,356,499
$
3,978,021
TOTAL UNRESTRICTED
$
2,392,882
$
2,156,155
Cash and Investments
January 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
$
840,565
Current Balance
$
56,709
$
897,274
$
Restricted
1,169,044
Y
56,718
Y
1,225,762
GENERAL CAPITAL PROJECTS FUND
Name
Acct. #
Pooled Cash
Maturity
004-00-1000
Yield
0.05%
TOTAL RESTRICTED
Prior Period
Current Balance
$
366,556
$
330,111
$
366,556
$
330,111
Restricted
Y
ENTERPRISE CAPITAL PROJECTS FUND
Name
Acct. #
Maturity
Yield
Prior Period
008-00-1020
0.20%
133,254
Y
Sewer Capital Reserve MM 2380226 Tap Fees
008-00-1038
0.20%
637,328
640,436
Y
Sewer Tap Fees - Pooled Cash
840-00-1000
0.15%
279,465
279,465
Y
$
1,038,359
$
1,053,155
Y
Water Capital Reserve MM 2376156
008-00-1037
0.20%
$
1,195,205
$
1,197,658
Y
Pooled Cash
840-00-1000
0.05%
$
1,568,627
$
1,688,691
Y
General CIP Money Market 2674823
840-00-1013
0.05%
2,050,107
Y
TOTAL RESTRICTED
121,566
$
Restricted
Sewer Capital Improvements MM-10% Rev
SEWER CAPITAL RESERVE - TAP FEES
$
Current Balance
2,050,020
$
5,852,211
$
5,989,611
4A FUND
January 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
67,079
Y
605,830
600,725
Y
0.20%
466,159
466,239
Y
0.25%
93,835
93,855
Y
$
1,232,903
$
Restricted
119,954
$
$
1,280,773
4B FUND
January 31, 2015
Balance
Name
Acct. #
Maturity
Yield
Prior Period
44,070
$
Restricted
Pooled Cash
42-00-1000
0.05%
85,880
Y
Cash MM 2379694
42-00-1010
0.05%
189,358
189,366
Y
4B CD 653500
42-00-1013
04/03/2015
0.40%
21,452
21,460
Y
4B CD 659924
42-00-1014
05/12/2015
0.40%
21,212
21,219
Y
4B CD 664243
42-00-1015
06/05/2015
0.40%
21,300
21,307
Y
4B CD 673277
42-00-1016
07/09/2015
0.40%
21,250
21,258
Y
4B CD 686115
42-00-1017
08/14/2015
0.40%
21,201
21,208
Y
4B CD 689521
42-00-1018
09/11/2015
0.40%
21,120
21,127
Y
4B CD 694371
42-00-1019
10/14/2015
0.45%
21,188
21,196
Y
4B CD 697230
42-00-1020
11/17/2015
0.45%
21,305
21,313
Y
4B CD 699934
42-00-1021
12/18/2015
0.45%
21,225
21,233
Y
4B CD 702285
42-00-1022
01/31/2016
0.45%
21,039
21,046
Y
4B CD 706078
42-00-1023
02/19/2015
0.40%
20,948
20,955
Y
4B CD 720097
42-00-1024
03/09/2015
0.40%
20,716
20,723
Y
4B CD 720119
42-00-1025
03/09/2015
0.40%
20,747
Y
$
Current Balance
20,740
$
508,124
$
550,038
INVESTMENT REPORT
January 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

city council meeting agenda 03/02/2015

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