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Home My Public Portal About7I SECOND QUARTERCity Council February 5 , 2013 Page 2 the end of the second quarter the percent of revenue rece ived is generally 50% except for those types of revenues that are received annually such as business licenses, animal licenses , parking permits and franchise fees . 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 in December 2012. Property tax is $106,000 higher and sales tax is $18,000 higher than the same quarter of FY 2011-12. • Licenses and Permits include building permits, business license fee , animal license fee, parking permits , impound fees, temporary parking permits and code enforcement fees . During the second quarter, revenues received from this category are $58 ,000 higher primarily due to building permit fees. • Intergovernmental is primarily Motor Vehicle In Lieu, which is $17,000 lower than last fiscal year to due timing of receipts from the State of California. • Charges for Services include revenues from recreation fees, facility rental fees, zoning fees and plan check fees. Also included is the shared maintenance charge to Los Angeles County Public Library for the maintenance provided to the library parking lot. This category increase by $34,000. • Fines and Forfeitures reflect revenues received from court fines and parking citations issued by the Los Angeles County Sheriff's Department and the Community Preservation Staff. Also, the City has contracted with Data Ticket, Inc. to process manual and electronic parking citation last fiscal year. Revenues received from this category are slightly lower as a result of the timing of receipt collection . • Use of Money and Property category reflect interest earned on City investments from LAIF, Certificates of Deposit (CD), bond investments and interest payment to City loan from Applebee's . LAIF interest is received on a quarterly basis with the second quarter interest payment received in January 2013 . The City has been receiving $10 ,607 monthly from Applebee's for loan and interest payment starting in August 2005 . The interest portion of each payment is accounted for in this category. The City started investing in COs in September 2008 and bond investments in August 2009. Revenues from this category increased $9,000 during the second quarter comparing to the same period last year. • Miscellaneous category reflects revenues from AB939 Reimbursements, Recyclable Revenue, and Rental Income . The City continues to receive monthly rental payments from Cingular Wireless (AT&T) and from the Primrose Property tenants . City Council February 5 , 2013 Page 3 Special Revenues are received from various funds su c h as Traffic Safety, Gas Tax, Proposition A, Proposition C , 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 Revenues are overall lower this quarter in comparison to the same quarter of last fiscal year due to tim ing of special revenue receipts. 3 . Expenditure Summary Report This report is a summary for the period of July 1, 2012 to December 31 , 2012. By the end of the first quarter the percent expended is generally 50%. As is the City's policy , expenditures are kept to a minimum. The programs that are contracted with Los Angeles County are generally a month or two behind due to the County's time frame in invoicing the City. The City Attorney Program shows a high amount expended due to the increase cost to the City legal services . The Insurance/Benefits Program is showing a high percentage of expenditures spent due to the first quarter benefits not yet spread to various departments. The allocations of these costs and will be reflected in the final report for FY 2012-13. 4. Capital Improvement Financial Report The second quarter expenditures re f lect costs for ten projects: Citywide Park & Open Space Master Plan; Additional Concrete for the Performing Arts Pavilion Area ; Citywide Traffic Calming Study Master Plan; Comprehensive Downtown Parking Study and Strategic Plan ; Rosemead Boulevard Safety Enhancements and Beautification Project; Redesign of Las Tunas Drive Safety Enhancement and Beautification Project; ADA Barrier Removal Program ; Redesign City Hall Lobby, Conference Room and Management Office ; City AM Radio Station ; and Purchase of 5800 Temple City Boulevard Property . CONCLUSION: The City Council is requested to review, receive and file the Second Quarter City Treasurer's Report, Revenue and Expenditure Summary Reports and the Capital Improvement Financial Report . FISCAL IMPACT: This item does not have an impact on the Fiscal Year (FY) 2012-13 City Budget. City Council February 5 , 2013 Page4 ATTACHMENTS: A. City of Temple City Treasurer's Report B . City of Temple City Revenue Summary Report C. City ofT emple City Expenditure Summary Report D . City of Temple City Capital Improvement Financial Status Report CITY OF TEMPLE CITY TREASURER'S REPORT December 31, 2012 Cash in Bank * Wells Fargo Bank-Checking -Payroll -Merchant Card US Bank -Checking Camellia Fund * East West Bank -Monthly Market Account Wells Fargo Bank-Checking Petty Cash LAIF Effective Quarter to Date Yield 12/31/12 0.330% MorganStanley SmithBarney * Certificates of Deposit :( Weighted Average to Date Yield 12/31/12 1.199% Government Securities Weighted Average to Date Y ield 12/31/12 0.800% Money Market Mutual Securities* Government Securities Weighted Average to Date Yie ld 12/31 /12 1.71 7% Money Market US Bank * Certificates of Deposit Weighted A verage to Date Yield 12 /31 /12 0 .849% TOTAL PRIOR MONTH STATUS Total • Based o n Bank Sta tem ents $ $ COST VALUE 943 ,873 .05 40,247.48 10,699 .30 1,173.71 160 ,000 .00 17,166.43 2,200 .00 17,408,765.14 7,467,000.00 1 I 100,000 .00 1,785.81 5,662,420 .00 0.30 2 ,216 ,000 .00 35,031,331 .22 34,390 ,139.73 $ $ ATTACHMENT A MARKET VALUE 943,873.05 40,247.48 10,699 .30 1,173.71 160,000 .00 17 ,166.43 2,200.00 17,431 ,641.51 7,534,643.62 1,103 ,860 .28 1,785 .81 5,562 ,035 .00 0.30 2,216,000 .00 35,025 ,326 .49 34,490 ,555.59 A ll investm e nts are pla ce d in accordance with th e City of Temple City's Invest ment Policy. The above summary provides sufficient cash flow li qu id ity to m e et th e next six m on th's e stim ated exp enditure s. T his rep ort is in accordan ce with Governmen t Code Secti o n 53646. , ~.I J-~ T~.HAUSE CITY TREASURER CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No_ Project P12-02 Citywide Park & Open Space Master Plan P13-01 Additional Concrete for the Performing Arts Pavillion Area Recap of Funding Sources (D) (D) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source General Fund General Fund General Fund Budget 100,000 20,000 120,000 TOTAL CIP-PARKS MAINTENANCE I FACILITIES 120,000 (E) = Essential (N) = Necessary (M) =Mandated (R) = Routine ATTACHMENT D PARKS -MAINTENANCE/FACILITIES ACCT. NO. 60-980-59-4810 Year To Date Expenditure Balance 75 99,925 300 19,700 375 119,625 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-07 Citywide Traffic Calming Study Master Plan Recap of Funding Sources TOTAL CIP-TRAFFIC ENGINEERING (E)= Essential (N) = Necessary (N) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source MeasureR MeasureR Budget 50,490 50,490 50,490 (M) = Mandated (R) = Routine TRAFFIC ENGINEERING ACCT. NO. 60-980-62-4810 Year To Date Expenditure Balance 8,995 41,495 8,995 41,495 (D)= Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-06 Comprehensive Downtown Parking Study and Strategic Plan Recap of Funding Sources TOTAL CIP-PARKING ADMINISTRATION (E) = Essential (N) = Necessary (N) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source MeasureR MeasureR Budget 54,900 54 ,900 54,900 (M) = Mandated (R) = Routine PARKING ADMINISTRATION ACCT. NO . 60-980-67-4810 Year To Date Expenditure Balance 16,146 38,754 16,146 38,754 (D)= Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P08-07 Upgrade Sewer Line on Longden from Muscatel to Encinita P08-11 Rosemead Boulevard Improvement Project P11-01 Bicyle Master Plan P12 -04 Citywide Upgrade Traffic Street Signage P13-02 Repaving of Streets per Re-assessment Pavement Management Index P13-03 Generator for pump at Rosemead Boulevard P13-04 Redesign of Las Tunas Drive (E) = Essential (N) = Necessary (N) (N) (D) (M) (E) (N) (N) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source Sewer Reconstruction Environment Protection Agency Prop A PropC Prop 1B MeasureR Lighting/Landscape District Surface Transp. Progr. Local Highway Safety lmpr Prog SAFE LU Rubberized Asphalt Concret< Grant Gas Tax GF-Eco Dev Fd Reserve SB821/TDA MeasureR Gas Tax Gas Tax PropC Budget 400,000 194,000 594,000 1,500,000 3 ,961 ,825 687,710 443 ,700 2 ,000 ,000 1,007 ,565 340,000 719,920 110,250 1,250,000 1,000,000 13,020 ,970 22 ,000 300,000 150,000 30 ,000 500,000 (M) =Mandated (R) = Routine STREET CONSTRUCTION ACCT. NO. 60-980-75-4810 Year To Date Expenditure Balance 594,000 306 ,898 12,714,072 22 ,000 300,000 150,000 30,000 123,734 376,266 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project Recap of Funding Sources TOTAL CIP -STREET CONSTRUCTION (E) = Essential (N) = Necessary CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source Prop A PropC Prop1B Gas Tax SB821ffDA MeasureR Sewer Reconstruction Lighting/Landscape District Surface Transp. Progr. Local H ig hway Safety lmpr Prog SAFE LU Rubberized Asphalt Concret~ Grant Environment Protection Agency GF -Eco Dev Fd Reserve Budget 1,500,000 4,461 ,825 687,710 1,430,000 22 ,000 743,700 400 ,000 2,000,000 1,007,565 340,000 719,920 110,250 194,000 1,000 ,000 14,616,970 (M) = Mandated (R) =Routine STREET CONSTRUCTION ACCT. NO. 60-980-75-4810 Year To Date Expenditure Balance 430,632 14,1 86,338 (D)= D iscretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P13-05 ADA Barrier Removal Program Recap of Funding Sources TOTAL CJP-SIDEWALK MAINTENANCE (E) = Essential (N) = Necessary (M) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL12-DEC12 Fund ing Source CDBG CDBG Budget 384 ,000 384,000 384,000 (M) = Mandated (R) = Routine SIDEWALK MAINTENANCE ACCT. NO. 60-980-76-4810 Year To Date Expenditure Balance 2 ,790 381 ,210 2 ,790 381,210 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P10-05 Counc il Chamber Renovation P13-06 Remote/Motorizi ng Access Gate for City Yard P13-07 Reroof City Hall P13-08 Redesign C ity Hall Lobby , Confere nce Room and Management Office P13-09 City AM Radio Station P13-10 Live Oak Park Community Center HVAC P13-11 Purchase of 5800 Temple City Blvd . Property Recap of Funding Sources TOTAL CIP-GEN GOV'T BLDGS (E) = Essential (N) = Necessary (N) (D) (E) (D) (D) (N) (D) CITY OF TEMPLE CITY FINANCIAL STATUS REPORT JUL 12-DEC 12 Funding Source General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund Budget 250,000 15 ,000 60 ,000 25 ,000 26,250 50,000 1,050 ,000 1,476 ,250 1,476,250 (M) = Mandated (R) =Routine GENERAL GOVERNMENT BUILDINGS ACCT. NO. 60-980-81-4810 Year To Date Ex pend iture Balance 250,000 15,000 60,000 6 ,359 18,641 6 ,131 2 0,119 50 ,000 50,000 1,000 ,000 62,490 1,413 ,760 (D) = Discre tionary