Memo - Second Quarter 2009 Financial and Investment ReportMEMORANDUM
Date: July 13, 2009
To: Mayor & City Council
From: Christine Harkess, Finance Director
Subject: Second Quarter 2009 Financial and Investment Report
FINANCE DEPARTMENT
Attached is the second quarter financial and investment report power point presentation. If you
have any questions in advance please contact me. A full presentation will be given at the council
meeting.
2009
2nd QUARTER
FINANCIAL & INVESTMENT
REPORT
General Fund Revenues
o Taxes support 82% of general fund
activities.
o Intergovernmental revenues support
4%
o Licenses, Permits & Fines support 7%
o Charges for Services support 2%
o Miscellaneous revenues including
Franchise fees support 3%
o Interest income supports 1%
GENERAL FUND REVENUES
Budget
$7,979,114
$ 698,010
Taxes
Intergovernmental
Licenses, Permits &
Fines $ 761,035
Charges for Services $ 220,550
Miscellaneous $ 311,000
Interest Income $ 105,783
• Total Revenues $10,075,492
Actual
$3,811,906
$ 86,997
$ 480,166
$ 227,162
$ 86,693
$ 16.195
0 /0 age of
Budaet
47.7%
12.4%
63.1%
103.0%
24.6%
15.3%
$4,709,119 46.7%
General Fund — Overview
o Revenues are at 46.7% of total
budget
o Expenditures are at 46.7% of
budget
3.000
2.500
2,000
1,500
1,000
500
General Fund Revenue Comparison
2nd Quarter (in thousands)
Taxes
mtergent ueme0nnes Ch*.T,
Intent
tester
General Fund Expenditures
o Salaries and benefits make up
78% of GF expenditures
o Materials, supplies and services
make up 32%
o Transfers and Contingency make
up 0.1%
o Capital is 0%
$4,000
$3,500
$3,000
82,500
82,000
$1,500
81,000
8500
$0
Total General Fund Expenditures
2 Quarter - (in thousands)
Salaries
Matl /Spl
Capital
41,
General Government
Community Services
Public Safety
Public Works
Recreation
Other
General Fund Expenditures
% age of
Buslaet Actual Buluat
$1,159,454 $ 471,482 40.7%
$1,005,823 $ 400,977 39.9%
$5,138,366 $2,440,391 47.5%
$2,139,947 $ 983,008 45.9%
$ 543,382 $ 310,795 57.2%
$ 88.520 $ 102.266 115.5%
Total Expenditures $10,075,492 $4,608,919 46.7%
2009 Budget Issues
o State Budget Deficit
• Impact on city's budget
o Potential loss of MVHC
• $245,520
• Impacts General Fund
o Potential loss of LGA
• $50,000
• Impacts Arts Center Fund
General Fund Expenditure Comparison
2nd Quarter - (in thousands)
$5,000
94,000
$3.006
$2,000
51.000
60
Ir
I1
2009
2006
2007
2006
City's Response
o Revenues
• Redirect a portion Capital Lev
o Expenditures
• Savings from staffing retirements /changes
• Reduce PT /Seasonal Payroll
• Reduce professional services
• Reduce training budgets
• Reduce materials /supplies & maintenance
• Eliminate capital items
• Use of contingency
2
Special Revenue Fund Expenditures
%age of
Budaet Actual Budaet
Chemical Assessment $ 45,000 $ 111,962 248.8%
Economic Development $ 277,063 $ 733,323 264.7%
Paratransit $ 126,949 $ 53,601 42.2%
Housing Rehab $ 92,273 $ 44,372 48.1%
Parking $ 104,898 $ 39,288 37.5%
Cable TV $ 209,909 $ 63,446 30.2%
Depot Coffee House $ 151,464 $ 63,833 42.1%
Art Center $ 659,557 $ 325,769 49.4%
Enterprise Funds
EXPENDITURES
2009 2009
Budget YTD of budget
Water $ 1,157,369 $ 550,803 47.59%
Sewer 1,965,132 839,844 42.74%
Refuse 905,707 347,004 38.31%
Storm Sewer 443,573 202,114 45.57%
Pavilion 404,488 188,688 46.65%
Cash & Investments
June 30, 2009
o Bank Sweep Account $ 3,968,734
o Certificates of Deposit 1,520,000
o Government Securities 3,405.000
Total $ 8,893,734
Enterprise Funds
REVENUES
2009 2009
Budget YTD of budget
Water $ 1,430,800 $ 590,971 41.30%
Sewer 1,797,000 778,632 43.33%
Refuse 879,030 411,767 46.84%
Storm Sewer 832,140 399,148 47.97%
Pavilion 362,100 193,216 53.36%
Enterprise Funds
Net
Income
Revenues Expenditures (Losst
Water $ 590,971 $ 550,803 $ 40,168
Sewer 778,632 839,844 $ (61,212)
Refuse 411,767 347,004 $ 64,764
Storm Sewer 399,148 202,114 $ 197,034
Pavilion 193,216 188,688 $ 4,528
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2009
2nd QUARTER
FINANCIAL AND INVESTMENT
REPORT
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