HomeMy Public PortalAbout12) 9A Third Quarter Financial Report FY 2019-20AGENDA
ITEM 9.A.
ADMINISTRATIVE SERVICES DEPARTMENT
MEMORANDUM
DATE: May 19, 2020
TO: The Honorable City Council
FROM: Bryan Cook, City Manager
By: Susan Paragas, Administrative Services Director and
Lee Ma, Accountant
SUBJECT: FISCAL YEAR (FY) 2019-2020 THIRD QUARTER BUDGET REVIEW,
REVENUE, EXPENDITURE, AND CAPITAL PROJECT SUMMARY
REPORTS AND TREASURER’S REPORT
RECOMMENDATION:
The City Council is requested to:
1. Receive and file the FY 2019-2020 Third (3rd) Quarter Budget Review and related
reports; and
2. Authorize staff to make the budget adjustments in Attachment “A”.
BACKGROUND:
1. On June 18, 2019, the City Council approved the FY 2019 -20 budget for all funding
sources in the amount of $25,800,010 (excludes transfers out).
2. On June 18, 2019, the City Council adopted Resolution No. 19 -5405 adopting the
FY 2020 Statement of Investment Policy.
3. On June 18, 2019, the City Council also adopted Resolution No. 19-5404, to include
and reappropriate any funds for all previous approved projects that have not been
initiated or completed (Section 3). The Primrose Park and Parking Lot Project was
not completed in FY 2018-19, therefore, a reappropriation in the amount of $113,890
from the General Fund was made in FY 2019-20.
4. On July 16, 2019, the City Council approved an additional $20,000 for professional
services with R3 Consulting Group from the General Fund.
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May 19, 2020
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5. On August 6, 2019, the City Council approved $26,400 from the General Fund for
necessary building improvements associated with the Temple City Chamber of
Commerce relocation to the City’s Council Chambers building on Kauffman Avenue.
6. On August 20, 2019, the City Council approved $10,000 from the General Fund for
the Coyote Management Implementation Plan with the San Gabriel Council of
Governments.
7. On November 19, 2019, the City Council appropriated an additional $8,000 from the
Parks Acquisition Fund for the roofing project. The City Council also authorized the
use of $122,500 of the Lighting and Landscape District Fun d and $52,500 of the
General Fund for the purchase of a replacement wheel loader.
8. On December 3, 2019, the City Council approved $6,370 from the General Fund for
adopting salary ranges for unrepresented part-time classifications implementing the
minimum wage effective on January 1, 2020.
9. On January 7, 2020, the City Council adopted Resolution No. 20 -5444 approving the
Memorandum of Understanding (MOU) between the City of Temple City and the
Temple City Employees Association and appropriated $55,1 00 from the General
Fund Reserve and $3,050 from the Lighting and Landscape District Fund Reserves
to implement the provisions of the MOU.
10. On January 21, 2020, the City Council adopted Resolution No. 20 -5446 for nine full-
time non-represented classifications approving the salary ranges and benefits, and
appropriated $21,600 from the General Fund Reserves to fund the adjustments.
11. On March 17, 2020, the City Council approved several budget adjustments to the FY
2019-20 Mid-Year Revenue and Expenditure adjustments.
12. On March 17, 2020, the City Council also approved the Memorandum of Agreement
in the amount of $14,855 funding from the Measure R, instead of $20,000 funding
from the General Fund, with the San Gabriel Valley Council of Gove rnments
(SGVCOG) to prepare review projects under California Environmental Quality Act
(CEQA) for the Senate Bill (SB) 743 Compliance.
ANALYSIS:
Historically on a quarterly basis, staff has submitted reports to the City Council on
revenue, and expenditure transactions and treasury activities. The FY 2019-20 3rd
Quarter Budget review process provides the City Council with an opportunity to review
and adjust current revenue projections and budgeted appropriations based on nine
months of actual activities. Adjustments can result from changes in revenue projections
based on actual revenue received from July 1, 2019 through March 31, 2020 as well as
unanticipated expenditures due to information that was not previously available .
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May 19, 2020
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1. REVENUE SUMMARY REPORT
This report is a summary for the period of July 1, 201 9 to March 31, 2020,
(Attachment “B”). By the end of the 3rd quarter, the percent of revenue received is
generally 75% except for those types of revenues that are received annually such as
business licenses, animal licenses, parking permits and franchise fees. Further, the
major revenues, such as property tax and Vehicle In -Lieu Fees, are not received
equally over a 12-month period, thus, providing a skewed percentage of actual
receipts collected to date.
One significant disruption to the City’s normal revenue flow for is the outbreak of the
coronavirus (COVID-19) in the United States. COVID-19 has caused an economic
downturn due to the substantial decrease in spending on certain goods and
services. As a result, the COVID-19 pandemic is expected to have a negative
impact to City revenues, primarily in the General Fund (GF). The most dramatic
decreases are expected during the fourth quarter of FY 2019-20 (April to June 2020)
and during FY 2020-21.
The following are estimated reductions in the FY1920 GF revenue budgets due to
COVID-19:
Revenue: Decrease: Cause:
Real Estate Transfer Taxes ($ 40,000) Anticipated lower housing sales.
Recreation Fees
($275,000)
Cancellation of programs.
Sales Tax
($165,000)
Decreased restaurant and retail
sales.
Temporary Parking Permit
Fees
($ 30,000)
Suspension of overnight parking
permits.
Transient Occupancy Tax
($ 20,000)
Closure of hotels/motels.
Total GF Rev Reductions
($530,000)
FY1920
The estimated reductions are assuming that the ‘shelter-in-place’ (“SIP”) restrictions
will continue until the end of June 30, 2020. Budget amendments are proposed for
these revenues in Attachment “A”. The impact of these reductions to the GF fund
balance/reserves will be discussed in Section 4, Fund Balance Analysis.
The City’s General Fund revenues are summarized into seven categories:
Taxes include revenues from property tax, sales tax, real estate
transfer tax and franchise fees. The first major installment of property
tax was received from December 2019 through February 2020. The
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second installment will be received in April and May of 2020.
Taxes are higher this 3rd quarter by about 3.3%
(+$118,860). Primarily attributable to the increase in
Property Tax allocation compared to the same period in
FY 2018-19 (FY2018-19) due to higher assessed
property valuations.
o Sales Tax is lower by 2.1% or -$28,340 compared
to prior year. The fourth quarter (April to June) in
FY 2019-20 is expected to have significantly lower
collections due to COVID-19.
o Transient Occupancy Tax is estimated to be lower
by $20,000 for the rest of FY1920. Again, this is
due to COVID-19.
o Real Estate Transfer Tax is slightly higher than
prior year by 5.4% (+$6,215). However, because
of COVID-19, home sales are projected to
o A slowdown is projected in fourth quarter FY1920.
Mid-March 2020 is when the SIP directive began, thus,
lowering:
o Sales-tax-generating activities from restaurants,
retail stores, car dealerships, etc.
A budget amendment is requested for a
reduction of $165,000.
o Hotel occupancy - estimated between 80% to over
90%, as tourism was basically put to a halt
Lower Transient Occupancy Tax.
A budget amendment is requested for a
reduction of $20,000.
o Real Estate Transfer Tax as housing sales
activities are anticipated to be drastically reduced.
A budget amendment is requested for a
reduction of $40,000.
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May 19, 2020
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Licenses and Permits include building permits, business license fees,
animal license fees, parking permits, impound fees, temporary
parking permits, code enforcement fees and encroachment permits.
Revenues received during the 3rd quarter are 9.8% lower
(-$123,440) than the 3rd quarter FY2018-19 and was
primarily due to lower building permit fees and
encroachment permits. However, the FY 2019-20
adopted budgets were already reduced in anticipation of
lower activities.
Intergovernmental is primarily Motor Vehicle In-Lieu the City receives
from the State of California which is 6.3% higher, or $147,900, than
the 3rd quarter last year. This is attributable to higher assessed
property values.
Charges for Services include revenues from recreation fees, facility
rental fees, zoning fees, plan check fees, and public works and
engineering fees. Also, included is the shared maintenance charge to
Los Angeles County Public Library for the maintenance provided to
the library parking lot.
Revenues collected are higher by 7.2% (+$64,050) than
the same quarter last year primarily due to increases in:
o Zoning fees –88.8% higher (+$87,976); and
o Plan check fees –17.9% higher (+$60,686).
However, two revenue fees were lower than this period
last year:
o Recreation Fees - 10.9% lower (-$37,939); and
o Public Works Engineering Fees - 64.3% lower
(-$40,155) than last year.
o A budget amendment is proposed for Recreation
Fees for a reduction of $275,000 as no
programming is planned for the rest of FY 2019-
20. The Public Works Engineering Fees were
already lowered with Council approval at the mid-
year budget review in March 2020.
Fines and Forfeitures reflect revenues received from court fines and
parking citations issued by the Los Angeles County Sheriff's
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Department and City staff. The City also contracts with Data Ticket, Inc.
to process parking citations. Revenues received from this category
are higher by 10.7% (+$42,500) than the same quarter of last year
due to increased enforcements and fully staffed positions.
Use of Money and Property category reflects interest earned on City
investments from LAIF, Certificates of Deposit (CD) and bond
investments. Revenues from this category are $201,245 lower in
comparison to the same period last year.
Interest Income is $102,990 is less as a result of the
lower interest rates when certain investments mature.
The fair market value of the investments is lower by
$98,255 (-84.1%) than last year. However, the amount
does not impact the City’s cash balance as long as the
investments ae held to their maturity dates.
Miscellaneous category reflects revenues from Assembly Bill (AB) 939
Reimbursements, Recyclable Revenue, and Rental Income. The City
continues to receive monthly rental payments from Cingular Wireless
(AT&T) and Temple City Chamber of Commerce. The revenue
amount for this category is lower than last year’s collections by about
6.4% (-$10,740) for the 3rd quarter. The income earned from shelter
ads have not been recorded in FY1920 which is about $18,000.
The recommended GF revenue budget adjustments of $0.5 million will reduce
the current budget of $15.2 million to $14.7 million. The effect of the reductions
will be shown in Section 4, Fund Balance Analysis.
Non-General funding sources (i.e., Special Revenue Funds) are received from
various funds such as Proposition A, Proposition C, Measure R, Measure M, Gas
Tax, Road Maintenance Rehabilitation Account, Lighting/Landscape District and
Community Development Block Grant. Some revenues are received on a monthly
basis where others are received when forms are subm itted for reimbursement of
expenditures. The Special Fund Revenues are $271,060 higher (+7.0%) this
quarter in comparison to the same quarter of last fiscal year due to higher revenues
from:
CDBG
Gas Tax*
Lighting and Landscape District
Measure M*
Measure R*
Proposition A (“Prop A”)*
Proposition C*
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*Revenues are based on sales tax transactions.
After reviewing the Special Revenue Funds, there are no recommended
adjustments. However, it is unknown at this time how the allocations from the
sales-tax-generated funds will be impacted due to the COVID-19 pandemic. It is
inevitable that the allocations may be reduced for the remaining months in FY 2019-
20, but there are available reserves in these funds to cover the shortfall of in
revenues.
2. EXPENDITURE SUMMARY REPORT
This report is a summary for the period of July 1, 2019 to March 31, 2020
(Attachment “C”). By the end of the 3rd quarter, the percent expended is generally
75%. As is the City’s policy, expenditures are kept to a minimum. Major program s
that are contracted with Los Angeles County (i.e., Sheriff’s contract) are generally a
month or two behind in invoicing due to the County’s billing time frame.
The Management Services Department expenditures reflect an 84% spent of their
budget. This is due to the lump-sum payment to the County of Los Angeles for the
renovation of the Temple City Library.
The Administrative Services Department expenditures are showing 82% expended
as of March 31, 2020, due to the lump-sum payments for liability and workers’
compensation insurance premiums that skew the percentage of spending. It is
anticipated the Administrative Services Department will be within budget at fiscal
year-end.
Based on staff’s analysis, the recommended budget adjustments for GF
expenditures are the following:
Expenditure: Decrease: Cause:
Community Development and
Management Services
department positions.
($150,975) Salary savings due to
vacancies.
Law Enforcement Services ($179,500) Temporary vacancy.
Total GF Exp Reductions
($330,475)
FY 2019-20
The current GF expenditure budget is $14.8 million and will be adjusted to $14.5
million should the recommended budget amendments be approved. The effect of
the amendments will be discussed in Section 4, Fund Balance Analysis.
The current FY 2019-20 City Budget is $20.3 million in Operating Expenditures and
Vehicle/Equipment Outlay. However, with the recommended budget amendments
above, the adjusted City Expenditure Budget will be reduced to $20.0 million.
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Only one expenditure adjustment for a non-GF expenditure is recommended. A
reduction of $200,000 from Prop A funds is proposed due to the original budget of a
Lyft program that will not be initiated in FY 2019-20.
3. CAPITAL IMPROVEMENT PROJECTS (CIP)
With the adoption of FY 2019-20 City Budget, the City Council approved and
funded $5.3 million in CIP expenditure budget, of which 9.4%, or $500,000, are
funded by the General Fund. However, with budget adjustments through the past
six months, the total CIP budget is $5.4 million of which is 10.6%, or $573,8900
funded by the GF. No adjustment is recommended at this time.
The 3rd quarter CIP expenditures (Attachment “D”) reflect year-to-date expenses
for six projects:
Pavement Management Street Resurfacing;
Primrose Park and Parking Lot;
Rosemead Boulevard Resurfacing; and
Temple City Park Pavilion Roofing.
4. FUND BALANCE ANALYSIS (GENERAL FUND)
The current FY 2019-20 GF net operating balance, including transfers, is estimated
to have a surplus of approximately $344,520. However, with the proposed
reductions in both revenues and expenditure budgets of $530,000 and $330,475,
respectively, as stated in Sections 1 and 2, the adjusted surplus will be $144,995.
Please see Attachment “E”.
The analysis further articulates the resources that are available in accordance with
the City's adopted Budget Reserve Policy. It is anticipated the City will be moving
into the FY 2020-21 City Budget process with an unassigned Fund Balance of over
$4.1 million. Committed and Assigned Reserves for restricted purposes have a
balance of just under $14.0 million.
While the City faces sizable GF revenue losses related to COVID -19, the City
anticipates balancing the GF budget for the remainder of FY 2019-20. However,
FY 2020-21 will be challenging in achieving a structurally balanced GF budget as
additional revenue losses are expected while the nation tries to recover from the
pandemic. It is important that the City continues to be diligent and prude nt in
budgeting its GF. Nevertheless, in the attempt to balance the GF budget, the
City’s goal will always be to prevent reductions in services for the community.
5. CITY TREASURER’S REPORT
The Treasurer or Chief Fiscal Officer is required to render an annual statement of
Investment Policy to the legislative body of the local agency and to render a
monthly report containing specific information regarding investment and deposits to
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May 19, 2020
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the legislative body and the Chief Administrative Officer. The atta ched Treasurer’s
Report (Attachment “F”), which is completed monthly and submitted to the City
Council on a monthly and quarterly basis, reflects the total balance of almost $32.8
million as of March 31, 2020.
The City’s idle cash and reserves are invested with the Local Agency Investment
Fund (LAIF), Mutual Securities, U.S. Bank, Los Angeles County Pool Investment
Fund, and Public Agency Retirement Services.
CITY STRATEGIC GOALS:
This action will further the City’s Strategic Goal to promote Good Governance.
FISCAL IMPACT:
If the City Council approves the above-mentioned FY 2019-20 3rd quarter budget
amendments recommended in Attachment “A”, the General Fund is estimated to have a
net operating surplus of $144,995.
ATTACHMENTS:
A. Budget Amendments
B. Revenue Summary Report
C. Expenditure Summary Report
D. Capital Project Financial Status Report
E. Fund Balance Analysis
F. City Treasurer’s Report
Current Budget Proposed RevisedAccount BudgetBudgetBudgetRevenue Description Number AmountAdjustmentAmount ExplanationGeneral Fund:Real Estate Transfer Tax 01-810-32-3201 180,000$ (40,000)$ 140,000$ COVID-19 impact.Recreation Fees 01-840-35-3505 575,000 (275,000) 300,000 COVID-19 impact.Sales Tax 01-810-32-3205 2,145,200 (165,000) 1,980,200 COVID-19 impact.Temp Parking Permit Fees 01-820-33-3311 200,000 (30,000) 170,000 COVID-19 impact.Transient Occupancy Tax 01-810-32-3209 60,000 (20,000) 40,000 COVID-19 impact.Total General Fund Revenue Amendments3,160,200$ (530,000)$ 2,630,200$ CITY OF TEMPLE CITYFY 2019-20 THIRD QUARTER REVENUE BUDGET AMENDMENTSPage 1 of 2ATTACHMENT A
CurrentProposed RevisedAccount BudgetBudgetBudgetDepartment/Program Reappropriations Number AmountAdjustmentAmount ExplanationGeneral Fund:Community DevelopmentBuilding 01-930-54 723,850$ (46,500)$ 677,350$ Salary savings. Community Preservation 01-950-65 610,365 (18,000)592,365 Salary savings. Housing 01-930-55 34,490 (6,000)28,490 Salary savings. Infrastructure-Admin. & Engineering 01-960-71 595,345 (36,000)559,345 Salary savings. Infrastructure-General Govt. Building 01-970-81 303,100 (6,000)297,100 Salary savings. Planning 01-930-53 743,770 (30,000)713,770 Salary savings. Management ServicesCity Manager 01-910-43 2,515,480 (8,475)2,507,005 Salary savings. Law Enforcement 01-950-61 4,623,350 (179,500)4,443,850 Temporary vacancy. Total General Fund Budget Amendments10,149,750$ (330,475)$ 9,819,275$ Non-General Fund:Proposition ATransit Services 15-940-58 200,000$ (200,000)$ 0$ Lyft program suspension. Total Non-GF Budget Amendment200,000$ (200,000)$ 0$ CITY OF TEMPLE CITYFY 2019-20 THIRD QUARTER EXPENDITURE BUDGET AMENDMENTSPage 2 of 2ATTACHMENT A
CITY OF TEMPLE CITYREVENUE SUMMARY REPORT - ALL FUNDSQUARTER ENDING - MARCH 31, 20202018-192018-192019-202019-20PERCENTBUDGETYEAR TO DATEBUDGETYEAR TO DATERECEIVEDJUL-MARJUL-MARGeneral Fund Revenues:Taxes 6,329,700$ 3,524,726$ 6,423,690$ 3,643,585$ 57%Licenses and Permits 1,639,000 1,260,068 1,533,000 1,136,626 74%Intergovernmental 4,632,600 2,356,161 4,817,905 2,504,082 52%Charges for Services 1,237,650 894,056 1,483,350 958,106 65%Fines, Forfeitures, & Penalities 500,000 398,507 500,000 441,016 88%Use of Money and PropertyInterest Income 240,000 288,463 215,000 199,606 93%Unrealized Gain (Loss) 0 116,803 0 18,546Total Use of Money and Property 240,000 405,266 215,000 218,152 101%Miscellaneous 223,000 168,418 218,000 157,678 72%Total General Fund Revenues14,801,950$ 9,007,202$ 15,190,945$ 9,059,245$ 60% Total Special Revenue Funds 5,916,555$ 3,879,536$ 7,228,080$ 4,150,59457%TOTAL REVENUES20,718,505$ 12,886,738$ 22,419,025$ 13,209,839$ 59%Page 1 of 1ATTACHMENT B
CITY OF TEMPLE CITYEXPENDITURE SUMMARY REPORT - ALL FUNDSQUARTER ENDING - MARCH 31, 20202018-192018-192019-202019-20PERCENTBUDGETYEAR TO DATEBUDGETYEAR TO DATEEXPENDEDJUL-MARJUL-MARMANAGEMENT SERVICES City Council 180,870$ 92,766$ 194,190$ 131,730$ 68% City Manager 1,070,045 675,257 1,064,305 775,956 73% City Manager (Library Project) 0 0 1,500,000 1,500,000 100% City Attorney 320,000 163,483 320,000 202,954 63% Elections 0 0 9,550 2,474 26% City Clerk 333,553 242,636 362,935 279,595 77%Management Services Total 1,904,468 1,174,142 3,450,980 2,892,709 84%PUBLIC SAFETY DIVISION Law Enforcement 4,631,600 2,997,949 4,860,315 3,103,586 64% Traffic Engineering 37,763 11,630 38,230 28,671 75% Emergency Services 160,010 115,678 166,470 137,042 82% Emergency Services (COVID-19) 0 23,381 0% Parking Administration 341,557 214,948 321,115 205,564 64%Public Safety Total 5,170,930 3,340,205 5,386,130 3,498,244 65%ADMINISTRATIVE SERVICES DEPARTMENT Support Services 153,405 102,495 144,755 105,963 73% Personnel 1,081,043 875,471 734,580 691,467 94% Accounting 617,012 482,980 656,235 498,809 76% Purchasing 316,690 233,303 555,250 414,694 75%Administrative Services Dept. Total 2,168,150 1,694,249 2,090,820 1,710,933 82%PARKS & RECREATION DEPARTMENT Recreation/Human Services 1,287,750 906,951 1,411,610 837,684 59% Public Transportation 778,482 467,978 939,735 436,660 46% Parks - Maintenance/Facilities 1,141,835 796,394 1,234,970 945,223 77% Trees & Parkways 690,885 427,850 727,985 530,569 73%Parks & Recreation Dept. Total 3,898,952 2,599,173 4,314,300 2,750,136 64%Page 1 of 3ATTACHMENT C
CITY OF TEMPLE CITYEXPENDITURE SUMMARY REPORT - ALL FUNDSQUARTER ENDING - MARCH 31, 20202018-192018-192019-202019-20PERCENTBUDGETYEAR TO DATEBUDGETYEAR TO DATEEXPENDEDJUL-MARJUL-MARMANAGEMENT SERVICES City Council 180,870$ 92,766$ 194,190$ 131,730$ 68% City Manager 1,070,045 675,257 1,064,305 775,956 73% City Manager (Library Project) 0 0 1,500,000 1,500,000 100% City Attorney 320,000 163,483 320,000 202,954 63% Elections 0 0 9,550 2,474 26% City Clerk 333,553 242,636 362,935 279,595 77%Management Services Total 1,904,468 1,174,142 3,450,980 2,892,709 84%PUBLIC SAFETY DIVISION Law Enforcement 4,631,600 2,997,949 4,860,315 3,103,586 64% Traffic Engineering 37,763 11,630 38,230 28,671 75% Emergency Services 160,010 115,678 166,470 137,042 82% Emergency Services (COVID-19) 0 23,381 0% Parking Administration 341,557 214,948 321,115 205,564 64%Public Safety Total 5,170,930 3,340,205 5,386,130 3,498,244 65%ADMINISTRATIVE SERVICES DEPARTMENT Support Services 153,405 102,495 144,755 105,963 73% Personnel 1,081,043 875,471 734,580 691,467 94% Accounting 617,012 482,980 656,235 498,809 76% Purchasing 316,690 233,303 555,250 414,694 75%Administrative Services Dept. Total 2,168,1501,694,2492,090,8201,710,93382%PARKS & RECREATION DEPARTMENT Recreation/Human Services1,287,750906,9511,411,610837,68459% Public Transportation778,482467,978939,735436,66046% Parks - Maintenance/Facilities1,141,835796,3941,234,970945,22377% Trees & Parkways690,885427,850727,985530,56973%Parks & Recreation Dept. Total 3,898,9522,599,1734,314,3002,750,13664%Page 1 of 3ATTACHMENT C
CITY OF TEMPLE CITYEXPENDITURE SUMMARY REPORT - ALL FUNDSQUARTER ENDING - MARCH 31, 20202018-19 2018-19 2019-20 2019-20 PERCENTBUDGETYEAR TO DATEBUDGETYEAR TO DATEEXPENDEDJUL-MARJUL-MARCOMMUNITY DEVELOPMENT DEPARTMENTCommunity Enhancement Division Planning 778,375 528,426 767,575 612,833 80% Building 667,898 460,794 729,760 387,535 53% Housing 184,845 84,326 559,045 153,268 27% Community Preservation 561,180 377,992 625,215 453,432 73%Community Enhancement Division Total 2,192,298 1,451,538 2,681,595 1,607,068 60%Infrastructure and Maintenance Division Administration & Engineering 707,290 444,229 677,710 378,337 56% Traffic Signal Maintenance 156,500 68,749 156,500 83,455 53% Traffic Signs & Strip Maint. 105,430 79,111 119,365 79,960 67% Street and Sidewalk Maintenance 378,200 250,144 396,000 251,532 64% Solid Waste Management 9,000 1,924 9,000 2,067 23% Street Lighting 375,215 183,372 374,070 230,269 62% General Government Buildings 281,087 212,768 339,100 249,769 74% Parking Facilities 103,550 76,833 112,130 81,167 72%Infrastructure & Maintenance Division Total 2,116,272 1,317,130 2,183,875 1,356,556 62%Community Development Dept. Total 4,308,570 2,768,668 4,865,470 2,963,624 61%SUB TOTAL PROGRAM EXPENDITURES17,451,07011,576,43720,107,70013,815,64669%Page 2 of 3
CITY OF TEMPLE CITYEXPENDITURE SUMMARY REPORT - ALL FUNDSQUARTER ENDING - MARCH 31, 20202018-19 2018-19 2019-20 2019-20 PERCENTBUDGETYEAR TO DATEBUDGETYEAR TO DATEEXPENDEDJUL-MARJUL-MAR SUB TOTAL PROGRAM EXPENDITURES 17,451,070 11,576,437 20,107,700 13,815,646 69% CAPITAL IMPROVEMENT FUND 2,840,000 178,351 5,437,890 590,249 11% EQUIPMENT REPLACEMENT 112,000 52,017 240,000 3,983 2% TRUST FUND 0 260 0 0 0% TOTAL EXPENDITURES20,403,07011,807,06525,785,59014,409,87856%CDBG LOAN REPAYMENT 30,000 36,008 0 96,600 0% EXPENDITURES GRAND TOTAL20,433,070$ 11,843,073$ 25,785,590$ 14,506,478$ 56%Page 3 of 3
JUL 2019 - MAR 2020PRELIMINARY FINANCIAL STATUS REPORTCITY OF TEMPLE CITYCAPITAL IMPROVEMENT PROGRAMSTREET CONSTRUCTIONPROJECT DETAILACCT. NO. XX-980-75-6010 Year To DateNo.ProjectFunding Source Budget Expenditure BalanceP18-06 Rosemead Boulevard Resurfacing Project (E) General Fund * 105,000$ 37,324$ 67,676$ Road Maintenance and Repair Act ("RMRA")* 420,000 420,000 0Total Rosemead Boulevard 525,000 457,324 67,676P19-05 Safe Clean Water Program (Green Street Impr)(M) General Fund *40,000040,000Measure W76,00076,000Total Safe Clean Water116,0000116,000P19-07 Pavement Management Street Resurfacing (E) General Fund *105,0000105,000Measure R *750,0000750,000RMRA*356,0000356,000Measure M *400,000 90,165309,835Total Pavement Management1,611,000 90,1651,520,835P19-08 Sidewalks and Cub Ramps ADA Improvements(M) Transportation Development 71,000071,000 Account *P19-10 Banner and City Limit Signs(D) General Fund *75,000075,000P20-04 Bridge Repair and Maintenance(E) RMRA125,0000125,000P20-05 Las Tunas Drive Resurfacing(E) General Fund105,0000105,000Proposition C1,200,00001,200,000RMRA483,0000483,000Measure M400,0000400,000Total Las Tunas Drive2,188,00002,188,000P20-06 Rosemead Boulevard Median Irrigation (N) Lighting/Landscape 75,000075,000RetrofitDistrict* Reappropriations from FY 2018-19 to FY 2019-20(E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary ATTACHMENT D
JUL 2019 - MAR 2020PRELIMINARY FINANCIAL STATUS REPORTCITY OF TEMPLE CITYCAPITAL IMPROVEMENT PROGRAMSTREET CONSTRUCTIONPROJECT DETAILACCT. NO. XX-980-75-6010Recap of Funding SourcesGeneral Fund $430,000 $37,324 $392,676Lighting/Landscape District $75,000 $0 $75,000Measure M $800,000 $90,165 $709,835Measure R $750,000 $0 $750,000Measure W $76,000 $0 $76,000Proposition C $1,200,000 $0 $1,200,000Road Maint. & Repair Act $1,384,000 $420,000 $964,000Transportation Dev. Account $71,000 $0 $71,000TOTAL CIP - STREET CONSTRUCTION 4,786,000$ 547,489$ 4,238,511$ (E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary ATTACHMENT D
JUL 2019 - MAR 2020PRELIMINARY FINANCIAL STATUS REPORTCITY OF TEMPLE CITYCAPITAL IMPROVEMENT PROGRAMPARKING FACILITIESPROJECT DETAILACCT. NO. XX-980-82-6010 Year To DateNo.ProjectFunding Source Budget Expenditure BalanceP20-07 City Hall and Live Oak Park EV Charging (N) AQMD 40,000$ 0$ 40,000$ StationsRecap of Funding SourcesGeneral Fund $40,000 $0 $40,000TOTAL CIP - PARKING FACILITIES 40,000$ 0$ 40,000$ (E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary ATTACHMENT D
FY 2019-20
Fund Balance, July 1, 2019:
Designated
Nonspendable 68,993$
Committed 3,500,000
Assigned 10,455,704
Unassigned 6,019,290
Total Fund Balance, July 1, 2019 20,043,987$
Estimated FY 2019-20:
Current Budget-Revenues - FY 2019-20 15,190,945$
Proposed Budget Revenue Amendments (530,000)$
Expenditures - FY 2019-20 (14,814,425)
Proposed Budget Expenditure Amendments 330,475
Operating Surplus(Deficit)176,995$
Net Transfers (32,000)
Net Surplus (Deficit) with Net Transfers 144,995$
One-Time Expenditures (1,590,000)
CIP/Transfers Out - Estimate (573,890)
Surplus/Deficit (2,018,895)$
Estimated Fund Balance, June 30, 2020 18,025,092$
Estimated Fund Balance Designations at June 30, 2020, in accordance with the
General Fund Budget Reserve Policy
Nonspendable
Committed 3,500,000$
Emergency/Disasters 50,000$
Liquidity 2,000,000
Local Economic Uncertainty 1,450,000
Assigned 10,455,704$
Fleet Management 400,000$
Facilities Management 3,540,000
Technology Replacement 40,792
Economic Development 2,254,473
Opportunities for One-Time Expenditures 4,220,439
Unassigned 4,069,388$
Estimated Fund Balance on June 30, 2020 18,025,092$
CITY OF TEMPLE CITY
3RD QUARTER, FY 2019-20 GENERAL FUND BALANCE ANALYSIS - UNAUDITED
ATTACHMENT E
CITY OF TEMPLE CITY
TREASURER'S REPORT
March 31, 2020
Cash in Bank Wells Fargo Bank -Checking
·Merchant CardUS Bank -Checking
Camellia Fund East West Bank -Monthly Market Account Wefls Fargo Bank -Checking
Petty Cash
LAIF
Effective Quarter to Date Yield 3/31/20 1.890%
Mutual Securities Certificates of Deposit Weighted Average to Date Yield 3/31/20 1.944% Government Securities Weighted Average to Date Yield 3/31/20 1.843% Fixed Income Weighted Average to Date Yield 3/31/20 2.378% Money Market
US Bank Certificates of Deposit Weighted Average to Date Yield 3/31 /20 2.181 % Government Securities Weighted Average to Date Yield 3/31/20 1.740%
Los Angeles County Pool Investment Fund As of 3/31 /20 1.890%
SUB TOTAL
OPEB Investment -Restricted
As of 3/31/20
TOTAL
PRIOR MONTH STATUS Total
$
$
$
COST VALUE
2,354,587.48 10,910.08 1,514,871.52
160,000.00 14,556.29
1,600.00
6,978,467.17
1,000,000.00
4,950,000.00
2,487,617.63 377.74
6,793,000.00
500,338.00
4,886,842.19
31,653,168.10
1,100,000.00
32,753,168.10
33,461,140.18
$
$
$
MARKET VALUE
2,354,587.48 10,910.08 1,514,871.52
160,000.00 14,556.29
1,600.00
6,990,819.06
1,006,802.50
4,954,658.00
2,504,975.45
377 .74
6,807,478.78
504,944.50
4,893,262.02
31,719,843.42
1,426,494.65
33,146,338.07
34,038,616.71
All investments are placed In accordance with the City of Temple City's Investment Policy. The above summary provides sufficient cash flow
liquidity to meet the next six month's estimaled expenditures. This report is in accordance with Government Code Section 53646.
SUSAN PARAGAS CITY TREASURER
ATTACHMENT F