HomeMy WebLinkAboutCC AG PKT 2010-08-09 #IAGENDA STAFF REPORT
DATE: August 9, 2010
TO: Honorable Mayor and City Council
THRU: David Carmany, City Manager
FROM: Robbeyn Bird, CPA
Director of Administrative Services /City Treasurer
SUBJECT: REVIEW OF GENERAL FUND REVENUES &
EXPENDITURES FISCAL YEAR 2009/10
SUMMARY OF REQUEST:
That the City Council receive and file the report of General Fund revenues and
expenditures for fiscal year ended June 30, 2010.
BACKGROUND:
At the June 12, 2010 City Council meeting, Councilmember Miller requested that
a presentation be given to the Council at the next scheduled City Council
meeting. The following is a summary of the fiscal year ended June 30, 2010
General Fund revenues and expenditures:
Fiscal Year Ended June 30, 2010 operating revenues and expenditures are
projected to be $26,642,000 and $26,138,300, respectively. This results in an
excess of revenues over expenditures of $503,700. The total fund balance of the
General Fund is projected to be $29,437,327. Of that amount, $24,888,938 is
designated for various reasons leaving an undesignated fund balance of
$4,548,389.
During the fiscal year, there were budget amendments approved by the City
Council of $396,100 for various expenditures. Budget amendments processed
during the fiscal year are made from reserves and decrease fund balance.
Initially, Administrative Services projected expenditures exceeding revenues by
approximately $600,000. This was due to the decline in the economy resulting in
a decline of revenues. The largest declines were in sales tax, interest, and the
utility user's tax.
Due to the projected shortfall between revenues and expenditures, the City
Manager directed all departments to take the following actions:
• A hiring freeze was put into effect for all non - essential vacant positions.
Agenda Item
Page 2
• All over -time for non - safety personnel was eliminated.
• Over -time for sworn personnel only approved when needed to maintain
minimum deployment levels.
• Purchases were suspended until the new fiscal year.
These actions by the City Manager resulted in a positive contribution to fund
balance for the fiscal year ended 2009/10.
Due to the anticipation of continued slow economic growth, this directive will
remain in effect for the 2010/11 fiscal year with the exception of budgeted
purchases. In addition, the following items will also be implemented:
• No contributions to the Vehicle Replacement Fund will be made during
2010/11.
• Budgeted furniture for the Police Department will be postponed until it is
determined that the revenues are sufficient to cover the cost.
• Administrative Services will continue to monitor revenues /expenditures
closely throughout the fiscal year.
• City staff will spend conservatively throughout the fiscal year purchasing
only essential items needed to complete ongoing City business.
• Vendor contracts will be re- negotiated when possible to obtain additional
cost savings.
As mentioned above, the City Manager will continue to closely monitor
revenues /expenditures during the 2010/11 fiscal year and work closely with the
departments to implement cost saving measures to ensure the future fiscal
stability of the City.
At this point in time, the Administrative Services Department is finalizing the fiscal
year 2009/10 revenues and expenditures. Therefore, the numbers in this report
will vary slightly due to differences between projected and actual costs. The
Administrative Services Director is confident; however, that the variances will not
be significant.
FINANCIAL IMPACT:
None.
RECOMMENDATION:
Receive and file the report of General Fund revenues and expenditures for fiscal
year ended June 30, 2010.
SUBMITTED BY:
Robbeyn gird, CPA - Director of
Administrative Services /City Treasurer
NOTED AND APPROVED:
David Carm ny, City Manager
City of Sea� Beach
Flsca� Year 2009=2010
Year End Genera� Fund
Budget Update
Prepared By:
Robbeyn Bird
Director of Administrative Services/City Treasurer
U pdate City � s,! t ; � ''E S i l �� � � � � ``+; ;__J ! 1 y i t( t! k r Y
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Inform City Council of steps taken to
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® Fiscal Year 2009 -10
Projected Revenues
$26,642,000
® Fiscal Year 2009 -2 010
Projected Expenditures
$33,669,800
$481,900
Use ofhfoneyand Property $662,100
2% Other Revenue
$990,000
2%
$353,000
$2,972,000 Flnes, Forfeitures 5 Penalties
Transfers
Service Charges 4%
1%
11%
$7,353,500
-
Property7axes
•1 ;-
26%
$677,700
1
Intergovernmental
3%
$1,586,600
�'
$4,336,500
Licenses and Penmts
Sales and Use Tax
$1,069,000
Transient Occupancy7ax
$5,064,000
$155,900
496
Utility Users Tax
Cther Taxes
19%
1%
$909,800
Franchise Fees
3%
ueneral Fund Pro
F u n d f
Beginning Fund Balance (per 6/30/09 CAFR)
Projected
Total Revenues
Total Expenditures
,.
{ , , r.� III : 111
Projected
$ 36,465,127
26, 642, 000
(33,669
29,437,327
Fund Balance
Projected
Fund Balance Designated
!g�;I t
Projected
$ 29,437,327
4 ,
73L
Projected c Ending
Fund Balance Summary
FY 2009=10
Non -CZP:
Fiscal Policy
City Clerk
College Park East
Compensated Absences
Economic
Encumbrances
Total Non -CIP
UP:
Swimming Pool
Street Improvement
Storm Drain
Buildings
Traffic Impact Fee
Fire Station
Total CIP
Beginning
Ba lance
$ 5 1 985,800
79,160
477,000
724,300
1,750,000
211,000
9,227,260
5,000,000
4,043,500
4,735,000
1,960,200
3,172,982
5,183,100
24,094,782
Projected
Ending Balance
$ 6
41,142
477,000
716,000
1,750,000
82,500
9
. 4,850,000
2,473,908
3,717,534
1,166,100
3,029,351
37,303
15,274,196
Total Designated
Total Undesignated
Total Fund Balance
42,549,302
3,143,085
$ 45,692,387
24,888,938
4,548,389
$ 29,437,327
(�eneral Fund Designated Fun
Balance Project fo CX
Traffice Swimming Street
Impact Fees Pool Improvement Storm Drain Buildings Fire Station
Total
Beginning Balance 3 5 4 4 1 5 24,094,782
Projects
49750 SB Blvd /405 Crossing
BG1006 McGaugh Pool
ST0903 Beverly Manor Rd
ST1004 Local St Resurfacing
5022110yrs. Storm Drain Imp.
BG0801 PD Renovation
BG0803 Fire Station
Total Expenditures
Ending Balance Projected
(143,631) (143,631)
(150,000) (150,000)
(619,592) (619,592)
(950,000) (950,000)
(1,017,466) (1,017,466)
(794,100) (794,100)
(5,145,797) (5,145,797)
(143,631) (150,000) (1,569,592) (1,017,466) (794,100) (5,145,797) (8
3,029,351 4 2,473,908 3 1 37,303 15,274,196
Fiscal College Park Comp.
City Clerk Policy East Economic Absences Encumb. 'Total
Beginning Balance 79,160 5,985 477,000 1 724,300 211,000 9,227,260
Increase (Decrease)
LaserFisch/ Datanet
(38,018)
(38,018)
Year End Adjustment
Total Expenditures
Ending Balance Projected
562,300 (8 (128,500) 425,500
(38,018) 562,300 0 0 (8 (128,500) 387,482
41,142 6 1 548,100 477,000 1 1 750,000 716,000 82,500 9,614,742
City of Attorney (assist from special
10 -07 -01 counsel -Jim Blaylock, Jones & Mayer) 50,000.00
10 -10 -01 McGaugh Pool Repair 150,000.00
10 -12 -01 Project BG0801 PD Renovation 47,500.00
Total Budget Amendments made during the year 396 ®10
L orrective c
FY 2009=2010
* Hiring freeze for all non-essential positions.
* Eliminated overtime for non-sworn personneL
imp Purchase orders !' d /; until the
new fiscal year,
" wnli
� r
a Continue hiring freeze for n essential positions.
® Continue eliminating over -time for non -sworn
personnel.
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