1. Monthly Financial Reports
As of August 31, 2018
This packet is divided into four sections: (1) General Fund charts (pages 3-14): (2) Original LOT charts (pages 16-19); (3) Enterprise Fund charts (pages 21-24); and (4) URA charts (pages 26-27).
Each chart includes information on current progress relative to the prior year and also the current budget. Where deviations are 5% or greater, an explanation on the major drivers of such changes is included.

2. General Fund

3. The General Fund revenue is up approximately $565,673 (5
The General Fund revenue is up approximately $565,673 (5.5%) this increase is due largely to Planning and Building revenue $655,709.

4. The General Fund expenditures are up $766,296 (7. 8%) FYTD
The General Fund expenditures are up $766,296 (7.8%) FYTD. ** this is due to non department transfers but I’m not sure how to explain it correctly.

5. The Legislative & Executive Department expenditures are up $6,597 (2
The Legislative & Executive Department expenditures are up $6,597 (2.2%) FYTD.

6. The Administrative Services Department expenditures are down $1,092,934 (67.4%) FYTD. This increase is due largely to a budgeting change that moved inter-fund transfers to the Non-Departmental area of the budget.

7. The Legal Department expenditures are up $10,739 (5%)
The Legal Department expenditures are up $10,739 (5%). The increase is due to timing of the invoices for FY 17.

8. The Planning & Building Department expenditures are up $89,646 (14
The Planning & Building Department expenditures are up $89,646 (14.6%) FYTD. This is largely due to the increased utilization of professional services, including for the Division of Building Safety, which has increased $107,611 in the current fiscal year. The increased use of professional services has been off-set, in part, by lower salary and benefit costs in the department.

9. The Facilities Maintenance Department expenditures are down $5,879 (1
The Facilities Maintenance Department expenditures are down $5,879 (1.2%) FYTD driven by decreased utilization of professional services due to a light winter.

10. The Police Department expenditures are up $136,483 (10%) FYTD
The Police Department expenditures are up $136,483 (10%) FYTD. The increase is due salaries for the added city positions for two Community Service Officers.

11. The Fire & Rescue Department expenditures are up $193,012 (10.9%) FYTD. The increase in Fire & Rescue expenditures are largely driven by greater salary and benefits costs which are up approximately $155,747 FYTD.

12. The Streets Department expenditures are down $344,626 (19. 9%) FYTD
The Streets Department expenditures are down $344,626 (19.9%) FYTD. This decrease results from lesser professional services utilization and salaries due to a lighter winter which has lowered expenses approximately $311,052.

13. The Parks & Recreation Department expenditures are down $52,024 (10
The Parks & Recreation Department expenditures are down $52,024 (10.4%) FYTD. The decrease is largely due salaries and benefits $42,136.

14. LOT Analysis

15. Revenue to the Original LOT Fund is up $104,033 (4
Revenue to the Original LOT Fund is up $104,033 (4.8%) in FYTD due to greater tax receipts.

16. Revenues from Original LOT covered sales are up approximately 4
Revenues from Original LOT covered sales are up approximately 4.8% FYTD. However, August 2018 collections were approximately $30,661 (14.8%) higher than those of August August 2018 revenues were greater than the average collections witnessed in August of the prior 3 years.

17. To date in FY 18 (11 month), Original LOT collections have been generated by each sector as follows:
Retail has generated 62.8% of the total.
Building Materials have generated 12%.
Liquor has generated 11.2%.
Rooms have generated 9.2%.
Condominiums have generated 4.8%.

18. Through the eleventh month of FY 18, each sector has outperformed the average of the prior 3 years.
Retail is 11.5% over the average of the prior 3 years.
Rooms are up 21.2%.
Condominiums are up 7.2%
Liquor is up 3.2%.
Building Materials are up 5.1%.
NOTE: the combined total of each sector is lower than the total for the Original LOT fund shown on slide 7. This is due to inter-fund transfers to the Original LOT Fund from the Additional 1% Fund to cover administrative costs.

19. Enterprise Funds

20. The Water Fund revenues are down $282,397 (14. 3%) FYTD
The Water Fund revenues are down $282,397 (14.3%) FYTD. This decrease is due to change in billing cycle from quarterly to monthly at start of FY 17.

21. The Water Fund expenditures are up $182,020 (14
The Water Fund expenditures are up $182,020 (14.2%) FYTD due primarily to greater transfers to the Water Capital Improvement Fund.

22. The Wastewater Fund revenues are up $420,905 (23. 6%) FYTD
The Wastewater Fund revenues are up $420,905 (23.6%) FYTD. This increase is largely due to charges for services.

23. The Wastewater Fund expenditures are up $1,065,658 (53%) FYTD
The Wastewater Fund expenditures are up $1,065,658 (53%) FYTD. The increase stems from increased transfers to the Wastewater Capital Improvement Fund, which are up $1,138,271 FYTD, to fund the headworks construction project this coming summer.