HomeMy Public PortalAbout09) 10A_4th Qtr Preliminary Financial Update_4th Quarter Budget AmendmentsADMINISTRATIVE SERVICES DEPARTMENT
MEMORANDUM
DATE: October 5, 2021
TO: The Honorable City Council
FROM: Bryan Cook, City Manager
Via: Susan Paragas, Administrative Services Director
SUBJECT: FISCAL YEAR (FY) 2020-2021 FOURTH QUARTER PRELIMINARY
FINANCIAL REVIEW, TREASURER’S REPORT, REVENUE,
EXPENDITURE AND CAPITAL PROJECT SUMMARY REPORTS AND
BUDGET AMENDMENTS
RECOMMENDATION:
The City Council is requested to:
1.Receive the Fiscal Year 2020-2021 (FY20-21) Fourth Quarter Financial Review
and related reports; and
2.Approve and authorize staff to revise revenue and expenditure estimates as
indicated in Attachment “A”.
BACKGROUND:
1.On June 16, 2020, the City Council approved a FY20-21 Community
Development Block Grant (CDBG) budget amendment to reflect the
Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 allocation
for rental and business assistance. The FY20-21 Adopted Budget did not reflect
this amendment.
2.On June 29, 2020, the City Council approved Resolution No. 20-5479, adopting
the FY20-21 Operating Budget for all funding source in the amount of
$30,116,805.
3.On June 29, 2020, the City Council adopted Resolution No. 20-5482 adopting
the FY20-21 Statement of Investment Policy.
AGENDA
ITEM 10.A.
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October 5, 2021
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4. On September 30, 2020, a $210,000 General Fund Capital Improvement
Project carryover was made for the Las Tunas Drive and Pavement
Management Projects to show the City’s maintenance effort as authorized by
Resolution No. 20-5479, Section 3.
5. On October 20, 2020, the City Council approved the funding of the Community
Development Director position and defunded the Planning Manager position
with a budget amendment of $7,265.
6. On November 4, 2020, the City Council approved a $29,250 General Fund
appropriation to utilize a temporary Building and Code Inspector.
7. On December 1, 2020, the City Council adopted Resolution No. 20-5489,
approving the salary ranges for unrepresented part-time classifications
implementing the minimum wage effective on January 1, 2021 with a budget
amendment of $7,485.
8. On January 19, 2021, the City Council approved and authorized staff to revise
revenue and expenditure budget estimates as proposed at the mid-year financial
status report.
9. On May 4, 2021, the City Council approved and authorized staff to revise revenue
and expenditure budget estimates as proposed at the third quarter financial status
report.
ANALYSIS:
Staff brings forward quarterly financial status reports to provide the City Council with an
update of revenue and expense information of the City’s overall financial condition. Th e
quarterly reports also identify adjustments needed to align the City’s revenue resources
with the cost of providing services.
The main focus of this report is the fourth (4th) quarter preliminary financial results of the
General Fund (GF). Overall, the GF is expected to be above its projected revenues and
below its budgeted expenditures. Attachment “A” contains recommendations for budget
adjustments based on the current financial activities. When the proposed budget
amendments are applied, it is estimated that the GF will have a surplus of approximately
$1.31 million. A large part of the year-end projected surplus is due to positive signs in
property tax, real estate transfer tax, sales tax and higher activities in licenses and
permits. Additional information on GF revenues is further discussed below.
The main non-GF funds, such as Proposition A and C, also experienced higher revenue
allocation as sales tax collected are higher than expected. Measure M and Measure R
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October 5, 2021
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were also positively affected as the allocation to cities are based on sales tax revenues,
too. However, due to the lower fuel purchases, Gas Tax revenues, which are allocated
from the taxes on fuel, are lower than estimated. Budget amendments are recommended
to align to the actual receipts.
The following reports are also included as attachments and will be further discussed
below:
Attachment “B” – Revenue summary report for all funds;
Attachment “C” – Expenditure summary report for all funds;
Attachment “D” – City’s FY20-21 Capital Improvement Program (CIP) status report;
Attachment “E” – GF Fund Balance Analysis; and
Attachment “F” – The Treasurer’s Report for June 2021.
1. FY20-21 GENERAL FUND REVENUES
After a careful and thorough review of the FY20-21 GF revenues, staff is making
recommendations for revisions to some estimates, as outlined in Attachment “A”. The
4th quarter activities have been positive for the GF despite the effects of the COVID-
19 pandemic. Several General Fund revenues were higher than anticipated due to
increases in collections and activities.
A review of the City’s major revenue sources is provided:
Property Tax: Property taxes continue to be one of the City's strongest revenue
sources. A budget amendment increase of $287,060 is requested as actual
revenues received is higher than estimated. Unaudited receipts are estimated at
$3.90 million in FY20-21 as compared to $3.67 million in FY1920-2020 (FY19-
20). The primary cause of the 6.2% increase is due to the growth in the assessed
valuation of properties. Based on data from the City’s HdL property tax report, the
net taxable assessed values in the City have risen 19.1% (+$886.1 million) from
FY 2016-2017 to FY 2019-2020.
Sales Tax: Sales tax received is $197,070 above the estimated budget. Sales tax
receipts increases were primarily from State and County pools. Collections from
restaurants and fuel and service stations were much higher than anticipated in
the 4th quarter. However, the total unaudited receipts of $1.82 million are still
5.1% lower (-$97,712) than prior year. It is not known if deferred sales tax
remittances are included in the 4th quarter collections. This is a revenue item
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heavily affected by the COVID-19 pandemic due to the health order restrictions.
Other Taxes: Other tax revenues include franchise fees, transient occupancy tax
and real estate transfer tax. Franchise fees are fees collected from service
providers, who provide utility services to the residents, such as Athens Services,
The Gas Company, Southern California Edison and cable television. A 10%
transient occupancy tax (TOT) is collected from each guest that rents a room from
any hotel located within the City. The tax is remitted directly to the City by the
hotel owners on a monthly basis. Real estate transfer tax (RETT) is a tax that is
collected when there is a change in ownership of all real properties.
The total Other Taxes revenues received were $872,840 and over budget by
$130,840 as higher remittances were collected from Franchise Fees and RETT.
Total revenues were also $117,687 higher than last fiscal year. RETT was higher
than last year by over $57,860 (+42.7%) and is attributable to higher prices on
homes sold in the City. TOT continues to be sluggish as collections were down
by $3,480 (-8.0%) over last year due to the pandemic.
License & Permits: License & permits include building permits, business license
fees, animal license fees, parking permit fees, impound fees, temporary parking
permits, code enforcement fees and temporary parking permit fees. Based on the
12 months of revenues received in FY20-21, staff is recommending a total budget
increase of $197,270 due to increased activities in building (+$126,460) and
encroachment (+$70,810) permit fees.
Motor Vehicle in-lieu fee (VLF): VLF was established in 1935 as a uniform
statewide tax, the VLF is a tax on the ownership of a registered vehicle in place
of taxing vehicles as personal property. By law, all revenues from the VLF fund
city and county services, but the state legislature controls the tax rate and the
allocation among local governments. In 2004, the Legislature permanently
reduced the VLF tax rate and eliminated state general fund backfill to cities and
counties. Instead, cities and counties now receive additional transfers of property
tax revenues in lieu of VLF.
No budget amendment is necessary as the budget was on target with the receipts.
FY20-21 revenues were 4.4% (+$218,065) higher than in FY19-20. The increase
is also due to higher property assessed values in the City.
Charges for Services: Charges for services are revenues received from
recreation fees, facility rental fees, zoning fees and plan check fees. These
revenues are reflected when services, classes or events are provided. Based on
the current revenues, only one budget adjustment is recommended which is for
Plan Check Fees as the other revenues are in line with their budgets. Plan Check
Fees revenues came in $72,370 higher than estimated due to increased activities.
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Court Fines: Court Fines are revenues collected from citations written from both
the Los Angeles County Sheriff's Department and authorized City staff . A budget
amendment for a $63,060 increase is requested as court fines were
underestimated. Though, the FY20-21 revenues of $293,062 were lower by
$248,0003 compared to FY19-20 (-45.8%).
Interest on Investments: The City receives interest on various investments on a
monthly, quarterly, semiannually, or annual basis depending on the type of
investment. Currently the City invests with Local Agency Investment Fund (LAIF);
Certificates of Deposit (CD); the Los Angeles County Investment Pool and other
various Federal notes and agencies. Based on current activity, interest income
received were on target. However, due to lower interest rates, FY20-21 interest
income is approximately lower by $191,825 than in FY19-20.
Other Revenues: Other revenues include recyclable revenue, rental income,
sales of property, donations, and other revenues. Budgeted revenues are in line
with actual receipts.
It should be noted that FY20-21 GF revenues include the $446,349 allocation from the
Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 as the bill
was not finalized until after June 30, 2020.
For non-GF revenues, as stated earlier, the most significant budget adjustments are
increases for the local return funds that are dependent on sales tax collected. The
City’s funds for Proposition A and C, Measure M and R were all higher by a total of
$354,315 (+18.0%) than budgeted as sales tax activities are rising. Gas Tax
revenues, however, were affected negatively, not only due to COVID-19, but also due
to the low fuel purchases so a total budget reduction of $56,390 (-6.7%) is requested.
2. FY20-21 GENERAL FUND AND OTHER EXPENDITURES
The current FY20-21 City Budget totals $29.27 million in Operating Expenditures,
Vehicle/Equipment Outlay and Capital Improvement Projects. Please see Attachment
“C”. After a careful and thorough review of the FY20-21 GF expenditures, staff is
making recommendations for revisions to estimates, as outlined in Attachment “A”,
beginning on page 3. A review of the City’s major expenditures is provided:
Personnel: These are costs related to employee compensation such as salaries
and benefits that include health insurance and pension costs. Budget
adjustments are recommended for a total reduction of $57,070 in the GF due to
vacant positions that were not filled during the anticipated date.
Operations and Maintenance: These are costs related to supplies, maintenance
and services required to operate the City. For the GF, budget amendments that
net to an increase in expenditures of $27,240 is recommended.
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October 5, 2021
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The major increase for budget amendments includes Professional/Special
Contract Services of $214,160. These additional costs correlate to increases of
revenue activities in Community Development services.
However, there are also reductions for budget amendments which include:
Engineering Services (-$81,000) – Lower activities;
Annual Events (-$45,000) – Cancellation of Parks and Recreation events; and
Parking Administration (-$38,585) – Suspension in parking enforcements.
Non-General Fund Expenditures: A net total of $8,348,325 is request in budget
amendments for non-GF budget expenditures. The majority of budgets needing
amendments were to the Capital Improvement Project (CIP) as most of the
projects were not commenced or completed. A total of $8,012,260 in CIP budget
reductions is recommended as the bulk of the budgets were rolled over into FY
2021-2022 (FY21-22). Other budget reductions were due to salary savings with
a total of $142,185 and in Maintenance and Operations with a total of $193,880
due to lower expenditures or unused budgets.
3. CAPITAL IMPROVEMENT PROJECTS (CIP)
Currently, for FY20-21, the total City CIP expenditure budget is $11.55 million of
which 1.3%, or $146,250 is from the GF. The total CIP expensed to date is $1.58
million of which $1.14 million (9.9%) is from Proposition C for pavement resurfacing
and $444,488 (3.9%) is from the State Parks grant for the City’s new Primrose Park.
A total budget adjustment reduction of $8.16 million is recommended in Attachment
“A” as a majority of the projects’ funding are rolled over into FY21-22 budgets.
The following projects were either completed or is a work-in-progress as shown in
Attachment “D”:
- Pavement Management Street Resurfacing; and
- Primrose Park and Parking Lot.
4. FUND BALANCE ANALYSIS (GENERAL FUND)
Attachment "E" provides an analysis of the GF Fund Balance.
On July 1, 2020, the audited fund balance for the GF is $20.10 million. Should the
budget amendments be approved by Council, the June 30, 2021 General Fund
analysis estimates a surplus for FY20-21 at $1.31 million and the fund balance on
June 30, 2021 increases to a total of $22.4. million. It is anticipated that the City will
have an estimated unassigned Fund Balance of $7.45 million. Committed and
Assigned Reserves for restricted purposes remain intact at $13.96 million.
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October 5, 2021
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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 the
legislative body and the Chief Administrative Officer. The attached Treasurer’s Report
(Attachment “F”), which is completed monthly and submitted to the City Council,
reflects the total cost value balance of almost $37.98 million as of June 30, 2021
compared to prior year’s $33.54 million.
The City’s idle cash and reserves are invested with the Local Agency Investment Fund
(LAIF), Mutual Securities, U.S. Bank and Los Angeles County Pool Investment Fund.
CITY STRATEGIC GOALS:
City Council approval of staff’s recommended actions will further the City’s Strategic Goal
to promote Good Governance.
FISCAL IMPACT:
Approving the budget amendments will increase revenue budgets by $1,347,670 (GF
$821,050; Non-GF $526,620) and decrease expenditure budgets by $8,348,325 (GF
-$254,080; Non-GF -$8,348,325).
ATTACHMENTS:
A. Budget Amendments
B. Revenue Summary Report
C. Expenditure Summary Report
D. Capital Project Financial Status Report
E. Fund Balance Analysis
F. City Treasurer’s Report
Current Proposed Revised
Budget Budget Budget
Revenue Description Amount Adjustment Amount Explanation
General Fund:
Building Permit Fees 520,000$ 126,460$ 646,460$ Higher activities.
Court Fines 230,000 63,060 293,060 Higher activities.
Encroachment Permit Fees 164,460 70,810 235,270 Higher activities.
Franchise Fees 560,000 79,510 639,510 Higher collections.
Franchise Fees - In-Lieu 150,000 (150,000)0 Correction.
Intergovernmental 443,910 31,410 475,320 Additional reimb.-LA River
Plan Check Fees 648,680 72,370 721,050 Higher activities.
Property Tax Allocation 3,609,705 287,060 3,896,765 Higher collections.
Real Estate Transfer Fees 150,000 43,300 193,300 Higher collections.
Sales Tax 1,625,000 197,070 1,822,070 Higher collections.
Total General Fund Revenue Amendments 821,050$
Non-General Fund:
Gas Tax
Gas Tax 2105 195,135 (10,965)184,170 Lower allocation.
Gas Tax 2106 113,075 (5,035)108,040 Lower allocation.
Gas Tax 2107 247,685 1,530 249,215 Higher allocation.
Gas Tax 2103 283,105 (41,920)241,185 Lower allocation.
Interest-CDs 1,500 7,875 9,375 Higher interest income earned.
Lighting and Landscape District
Ad Valorem Tax 1,203,600 95,150 1,298,750 Higher collections.
Interest on CD Investments 5,000 27,390 32,390 Higher interest income earned.
Measure M
Measure M Allocation 440,080 79,455 519,535 Higher allocation.
Interest on CD Investments 1,000 9,740 10,740 Higher interest income earned.
Measure R
Measure R Allocation 388,350 70,180 458,530 Higher allocation.
Interest on CD Investments 2,500 11,610 14,110 Higher interest income earned.
Park Acquisition
Park Fees 40,000 (8,500)31,500 Lower development activities.
Proposition A
Proposition A Allocation 624,170 111,885 736,055 Higher allocation.
Bus Pass Sales (MTA)10,325 (9,255)1,070 Lower sales.
Interest-CDs 6,000 (3,970)2,030 Lower interest income earned.
Proposition C
Proposition C Allocation 517,735 92,795 610,530 Higher allocation.
Interest-CDs 5,000 6,880 11,880 Higher interest income earned.
CITY OF TEMPLE CITY
PROPOSED FY 20/21 4TH QUARTER REVENUE BUDGET AMENDMENTS
Page 1 of 4
ATTACHMENT A
Current Proposed Revised
Budget Budget Budget
Revenue Description Amount Adjustment Amount Explanation
CITY OF TEMPLE CITY
PROPOSED FY 20/21 4TH QUARTER REVENUE BUDGET AMENDMENTS
Road Maintenance and Repair
Road Maint. and Repair Alloc 652,860 17,310 670,170 Higher allocation.
Interest-CDs 1,500 9,550 11,050 Higher interest income earned.
SB821 - Transportation Development Act
Intergovernmental 44,000 (44,000)0 Did not receive allocation.
Sewer Reconstruction
Charges 25,000 7,500 32,500 Higher collections.
Total Non-GF Budget Amendment 425,205$
Page 2 of 4
ATTACHMENT A
Current Proposed Revised
Budget Budget Budget
Department/Program Desc Amount Adjustment Amount Explanation
General Fund:
Annual Events $100,000 ($45,000)$55,000 Cancellation of events.
Engineering Services 252,000 (81,000)171,000 Lower activities.
General Liability 394,775 13,525 408,300 Underbudgeted.
LA County-Building & Safety 10,000 (6,500)3,500 Lower activities.
Maintenance and Repair 38,000 (20,300)17,700 Lower expenditures.
Mechanical Maintenance 21,440 (11,230)10,210 Lower expenditures.
Office Equipment Maintenance 40,825 13,000 53,825 Central Square maintenance.
Parking Administration 60,000 (39,585)20,415 Lower expenditures.
Prof./Special Contract Services 390,680 214,160 604,840 Related to increase in revenues.
Salary and Benefits 2,116,970 (57,070) 2,059,900 Salary savings.
Special Dept Supplies 123,800 (8,440)115,360 Lower expenditures.
Special Equipment Maint.7,170 (6,030)1,140 Lower expenditures.
Telephone 660 11,875 12,535 COVID-19 telephone services.
Traffic Engineering Services 20,000 2,650 22,650 Higher activities.
Training 6,000 (4,885)1,115 Lower expenditures.
Travel & Conference 15,000 (15,000)0 Not used.
Vehicle Operations 24,180 10,000 34,180 Reclass of non-eligible AQMD exp.
Capital Improvements/One-Time Exp
CIP-Parks Maint/Facilities 146,250 (146,250)0 Other funding sources to be used.
Prof./Special Program Services 30,000 (30,000)0 Rolled over to FY 2021-22
Vehicles 96,000 (48,000) 48,000 Duplicated.
Total General Fund Budget Amendments (254,080)$
Non-General Fund:
AB939 Fund
Prof./Special Contract Services $0 $11,195 $11,195 Trash services notices.
Air Quality Management District
Prof./Special Contract Services 13,440 59,390 72,830 Increase for qualified leases.
Vehicle Operation 7,900 (7,900)0 Unqualified expenditures.
Capital Improvement 53,000 (53,000)0 Rolled forward to FY 2021-22
Gas Tax
Contract Services-Public 129,000 (43,675)85,325 Lower expenditures.
Prof./Special Contract Services 66,365 (66,365)0 No Crossing Guard services.
Salary and Benefits 131,080 (53,180)77,900 Salary savings.
Street Cleaning 153,200 (15,030)138,170 Lower expenditures.
Street Maintenance 20,000 (12,965)7,035 Lower expenditures.
Lighting and Landscape District
Salary and Benefits 366,670 (89,005)277,665 Salary savings.
Capital Improvement 1,211,825 (1,211,825)0 Rolled forward to FY 2021-22
Measure A
Capital Improvement 425,000 (425,000)0 Not Used.
Measure M
Prof./Special Contract Services 10,000 (10,000)0 Not used.
Capital Improvement 1,136,000 (1,134,930)1,070 Rolled forward to FY 2020-21.
CITY OF TEMPLE CITY
PROPOSED FY 20/21 4TH QTR EXPENDITURE BUDGET AMENDMENTS
Page 3 of 4
ATTACHMENT A
Current Proposed Revised
Budget Budget Budget
Department/Program Desc Amount Adjustment Amount Explanation
CITY OF TEMPLE CITY
PROPOSED FY 20/21 4TH QTR EXPENDITURE BUDGET AMENDMENTS
Measure R
Prof./Special Contract Services 0 2,500 2,500 VMT analysis.
Capital Improvement 1,244,000 (1,244,000)0 Rolled forward to FY 2021-22.
Measure W
NPDES 78,500 (38,800)39,700 Lower expenditures.
Street Cleaning 78,800 10,770 89,570 Add'l expenditures.
Capital Improvement 76,000 (76,000)0 Rolled forward to FY 2021-22.
Park Acquisition
Capital Improvement 15,000 (15,000)0 Rolled forward to FY 2021-22
Public Art
Project Development Costs 34,000 (34,000)0 Not Used.
Road Maintenance and Repair Act
Capital Improvement 1,345,000 (1,345,000)0 Rolled forward to FY 2021-22.
SB821 Local Transportation
Capital Improvement 71,000 (71,000)0 Rolled forward to FY 2021-22.
State Parks Grant
Capital Improvement 2,900,000 (2,436,505)463,495 Balance rolled forward to FY 2021-
Traffic Congestion
Prof./Special Contract Services 49,000 (49,000)0 No Crossing Guard services.
Total Non-GF Budget Amendment ($8,348,325)
Page 4 of 4
ATTACHMENT A
CITY OF TEMPLE CITY
REVENUE SUMMARY REPORT - ALL FUNDS
FOURTH QUARTER-ENDING JUNE 30, 2021
2019-20 2019-20 PERCENT 2020-21 2020-21 PERCENT
BUDGET YEAR TO DATE RECEIVED BUDGET YEAR TO DATE RECEIVED
JUL-JUN JUL-JUN
Taxes 6,345,290$ 6,345,215$ 100.0%6,126,705$ 6,591,673$ 107.6%
Licenses and Permits 1,264,230 1,267,937 100.3%916,235 1,126,666 123.0%
Intergovernmental 5,541,705 5,544,149 100.0%5,641,185 5,672,594 100.6%
Charges for Services 993,960 994,072 100.0%769,520 838,557 109.0%
Fines, Forfeitures, & Penalties 541,060 541,065 100.0%230,000 293,062 127.4%
Use of Money and Property 432,110 432,101 100.0%208,000 240,276 115.5%
Other Revenue 256,930 369,903 144.0%177,600 179,396 101.0%
Total General Fund Revenue 15,375,285$ 15,494,443$ 100.8% 14,069,245$ 14,942,224$ 106.2%
Total Special Revenue Funds 6,846,410$ 6,000,344$ 87.6%5,985,090$ 6,571,087$ 109.8%
TOTAL REVENUE 22,221,695$ 21,494,787$ 96.7% 20,054,335$ 21,513,311$ 107.3%
Page 1 of 1
ATTACHMENT B
CITY OF TEMPLE CITY
EXPENDITURE SUMMARY REPORT - ALL FUNDS
FOURTH QUARTER-ENDING JUNE 30, 2021
2019-20 2019-20 PERCENT 2020-21 2020-21 PERCENT
BUDGET YEAR TO DATE EXPENDED BUDGET YEAR TO DATE EXPENDED
JUL-JUN JUL-JUN
MANAGEMENT SERVICES DEPARTMENT
City Council 154,490$ 153,149$ 99.1%162,405$ 142,362$ 87.7%
City Manager 980,030 951,488 97.1%831,530 797,248 95.9%
City Manager (Library Project)1,500,000 1,500,000 100.0%0 0 0.0%
City Attorney 329,420 329,417 100.0%300,000 232,688 77.6%
Elections 9,550 2,474 25.9%0 0 0.0%
City Clerk 369,539 368,773 99.8%365,015 324,980 89.0%
3,343,029$ 3,305,301$ 98.9%1,658,950$ 1,497,279$ 90.3%
PUBLIC SAFETY DIVISION
Law Enforcement 4,621,820$ 4,591,778$ 99.3%5,045,410$ 4,916,188$ 97.4%
Traffic Engineering 45,965 45,673 99.4%28,965 31,613 109.1%
Emergency Services 205,015 211,258 103.0%245,760 264,663 107.7%
Parking Administration 266,220 264,372 99.3%283,535 176,238 62.2%
5,139,020$ 5,113,081$ 99.5%5,603,670$ 5,388,703$ 96.2%
ADMINISTRATIVE SERVICES DEPARTMENT
Support Services/Human Resources 312,505 307,954 98.5%137,605 398,731 289.8%
Personnel/Risk Management 733,780 739,718 100.8%787,705 800,225 101.6%
Accounting 656,240 620,433 94.5%677,490 660,182 97.4%
Purchasing 559,250 511,421 91.4%343,540 408,259 118.8%
2,261,775 2,179,526 96.4%1,946,340 2,267,395 116.5%
PARKS & RECREATION DEPARTMENT
Recreation/Human Services 1,075,615 969,664 90.1%835,025 694,367 83.2%
Public Transportation 1,489,735 1,253,695 84.2%738,210 350,000 47.4%
Parks-Maint./Facilities 1,199,975 1,197,129 99.8%1,078,885 946,530 87.7%
Trees & Parkways 699,990 696,670 99.5%680,550 626,022 92.0%
4,465,315 4,117,158 92.2%3,332,670 2,616,919 78.5%
Page 1 of 2
ATTACHMENT C
CITY OF TEMPLE CITY
EXPENDITURE SUMMARY REPORT - ALL FUNDS
FOURTH QUARTER-ENDING JUNE 30, 2021
2019-20 2019-20 PERCENT 2020-21 2020-21 PERCENT
BUDGET YEAR TO DATE EXPENDED BUDGET YEAR TO DATE EXPENDED
JUL-JUN JUL-JUN
COMMUNITY DEVELOPMENT DEPARTMENT
COMMUNITY ENHANCEMENT DIVISION
Planning 712,080 709,643 99.7%833,085 713,593 85.7%
Building 582,265 633,798 108.9%660,760 775,866 117.4%
Housing 553,050 226,031 40.9%733,340 723,289 98.6%
Community Preservation 577,220 572,640 99.2%506,540 531,293 104.9%
2,424,615 2,142,112 88.3%2,733,725 2,744,041 100.4%
INFRASTRUCTURE & MAINTENANCE DIVISION
Administration & Engineering 574,715 543,879 94.6%723,710 586,727 81.1%
Traffic Signal Maintenance 156,500 153,422 98.0%156,500 108,505 69.3%
Traffic Signs & Strip Maint.119,370 99,424 83.3%127,800 101,081 79.1%
Street and Sidewalk Maintenance 396,000 386,813 97.7%432,865 340,024 78.6%
Solid Waste Management 9,000 7,112 79.0%9,000 3,820 42.4%
Street Lighting 279,700 275,133 98.4%394,830 371,313 94.0%
General Government Buildings 326,105 330,462 101.3%285,815 261,330 91.4%
Parking Facilities 112,135 101,912 90.9%98,060 93,608 95.5%
1,973,525 1,898,156 96.2%2,228,580 1,866,408 83.7%
SUB TOTAL PROGRAM EXPENDITURES 19,607,279 18,755,334 95.7% 17,503,935 16,380,745 93.6%
CAPITAL IMPROVEMENT FUND 2,044,230 1,247,135 61.0% 11,548,075 1,618,652 14.0%
EQUIPMENT REPLACEMENT 0 0 218,500 170,496 78.0%
CDBG LOAN REPAYMENT 0 96,600 0.0%0 109,209 0.0%
TOTAL EXPENDITURES 21,651,509 20,099,069 92.8%29,270,510 18,279,102 62.4%
Page 2 of 2
ATTACHMENT C
CAPITAL IMPROVEMENT PROGRAM PARKS - MAINTENANCE/FACILITIES
PROJECT DETAIL ACCT. NO. XX-980-59-6010
Year To Date
No.Project Funding Source Budget Expenditure Balance
P20-01 Live Oak Park Community Center Improvement (R) Measure A *425,000 0 425,000
P19-14 Primrose Park and Parking Lot Construction (E) State Parks Grant 2,900,000 444,488 2,455,512
General Fund*146,250 0 146,250
AQMD 53,000 0 53,000
Lighting and Landscape Dist.136,825 0 136,825
Total Primrose Park 3,236,075 444,488 2,791,587
P20-03 Replace Conduit and Wiring Temple City Park (N) Park Acquisition *15,000 0 15,000
P21-02 City Yard Front Building Environmental (N) CDBG 25,000 0 25,000
Assessment
Recap of Funding Sources AQMD 53,000 0 53,000
CDBG 25,000 0 25,000
General Fund 146,250 0 146,250
Lighting and Landscape Dist.136,825 0 136,825
Measure A 425,000 0 425,000
Park Acquisition 15,000 0 15,000
State Parks Grant 2,900,000 444,488 2,455,512
TOTAL CIP - PARKS MAINTENANCE / FACILITIES 3,701,075 444,488 3,256,587
* Reappropriations from FY 2019-20 to FY 2020-21
(E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary
CITY OF TEMPLE CITY
4TH QUARTER PRELIMINARY FINANCIAL STATUS REPORT
JULY 2020 to JUNE 2021
Page 1 of 4
ATTACHMENT D
CITY OF TEMPLE CITY
4TH QUARTER PRELIMINARY FINANCIAL STATUS REPORT
JULY 2020 to JUNE 2021
CAPITAL IMPROVEMENT PROGRAM STREET CONSTRUCTION
PROJECT DETAIL ACCT. NO. XX-980-75-6010
Year To Date
No.Project Funding Source Budget Expenditure Balance
P19-05 Safe Clean Water Program (Green Street Impr) (M) Measure W *76,000 0 76,000
P19-07 Pavement Management Street Resurfacing (E)
Measure R **1,244,000 0 1,244,000
Road Maintenance and
Repair Act *356,000 0 356,000
Measure M *400,000 1,067 398,933
Total Pavement Management 2,000,000 1,067 1,998,933
P19-08 Sidewalks and Cub Ramps ADA Improvements (M) Transportation Development 71,000 0 71,000
Account *
P20-04 Bridge Repair and Maintenance (E) Road Maintenance and 125,000 0 125,000
Repair Act *
P20-05 Las Tunas Drive Resurfacing (E) General Fund 0 0 0
Proposition C **2,900,000 1,139,122 1,760,878
Road Maintenance and
Repair Act **864,000 0 864,000
Measure M **736,000 0 736,000
Total Las Tunas Drive 4,500,000 1,139,122 3,360,878
P20-06 Rosemead Boulevard Median Irrigation (N) Lighting/Landscape 75,000 0 75,000
Retrofit District *
* Reappropriations from FY 2019-20 to FY 2020-21
** Reappropriations from FY 2019-20 to FY 2020-21 and new adopted budget
(E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary
Page 2 of 4
ATTACHMENT D
CITY OF TEMPLE CITY
4TH QUARTER PRELIMINARY FINANCIAL STATUS REPORT
JULY 2020 to JUNE 2021
CAPITAL IMPROVEMENT PROGRAM STREET CONSTRUCTION
PROJECT DETAIL ACCT. NO. XX-980-75-6010
Year To Date
No.Project Funding Source Budget Expenditure Balance
Recap of Funding Sources General Fund 0 0 0
Proposition C 2,900,000 1,139,122 1,760,878
Measure W 76,000 0 76,000
Transportation Development
Account 71,000 0 71,000
Measure R 1,244,000 0 1,244,000
Road Maintenance and Repair
Act 1,345,000 0 1,345,000
Measure M 1,136,000 1,067 1,134,933
Lighting/Landscape District 75,000 0 75,000
TOTAL CIP - STREET CONSTRUCTION 6,847,000 1,140,189 5,706,811
(E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary
Page 3 of 4
ATTACHMENT D
CITY OF TEMPLE CITY
4TH QUARTER PRELIMINARY FINANCIAL STATUS REPORT
JULY 2020 to JUNE 2021
CAPITAL IMPROVEMENT PROGRAM STREET LIGHTING
PROJECT DETAIL ACCT. NO. XX-980-78-6010
Year To Date
No.Project Funding Source Budget Expenditure Balance
P21-03 LED Lighting (R) Lighting/Landscape 1,000,000 0 1,000,000
District
Recap of Funding Sources Lighting/Landscape 1,000,000 0 1,000,000
District
TOTAL CIP - STREET LIGHTING 1,000,000 0 1,000,000
(E) = Essential (N) = Necessary (M) = Mandated (R) = Routine (D) = Discretionary
GRAND TOTAL 11,548,075 1,584,677 9,963,398
Page 4 of 4
ATTACHMENT D
Current 4th Quarter Revised
Budget Revisions Estimates
FY 2020-21 Operating Revenue Budget $14,069,245 $821,050 $14,890,295
FY 2020-21 Operating Expenditure Budget (13,567,825) 29,830 (13,537,995)
Transfers In/(Out)6,000 0 6,000
FY 2020-21 Estimated Operating Surplus/(Deficit)$507,420 $850,880 $1,358,300
FY 2020-21 One-Time Expenditure ($126,000) $78,000 ($48,000)
FY 2020-21 Capital Improvement Budget ($146,250) $146,250 $0
FY 2019-20 Fund Balance (Audited)$20,097,953 $0 $20,097,953
Net FY 2020-21 Estimated Balance 235,170 1,075,130 1,310,300
June 30, 2021 Estimated Fund Balance $20,333,123 $1,075,130 $21,408,253
General Fund Budget Summary
ATTACHMENT E
CITY OF TEMPLE CITY
TREASURER'S REPORT
June 30, 2021
Cash in Bank
Wells Fargo Bank -Checking
-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 6/30/21 0.300%
Mutual Securities
Certificates of Deposit
Weighted Average to Date Yield 6/30/21 1.900%
Government Securities
Weighted Average to Date Yield 6/30/21 1.040%
Fixed Income
Weighted Average to Date Yield 6/30/21 1.379%
Money Market
US Bank
Certificates of Deposit
Weighted Average to Date Yield 6/30/21 1.852%
Government Securities
Weighted Average to Date Yield 6/30/21 0.542%
Los Angeles County Pool Investment Fund
As of 6/30/21 0.500%
SUB TOTAL
OPEB Investment -Restricted
As of 6/30/21
TOTAL
PRIOR MONTH STATUS
Total
$
$
$
COST VALUE
1,710,922.63
51,541.22
83,162.79
160,000.00
15,305.89
1,600.00
17,099,287.18
250,000.00
3,188,527.50
4,092,493.54
403.70
4,690,000.00
1,686,505.75
4,946,025.09
37,975,775.29
1,100,000.00
39,075,775.29
39,492,753.50
$
$
$
MARKET VALUE
1,710,922.63
51,541.22
83,162.79
160,000.00
15,305.89
1,600.00
17,120,045.71
256,847.50
3,187,621.65
4,115,022.20
403.70
4,765,781.64
1,672,212.10
4,948,606.57
38,089,073.60
1,960,224.31
40,049,297.91
40,452,871.70
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 estimated expenditures. This report is in accordance with Government Code Section 53646.
af;;;:;;= CITY TREASURER
ATTACHMENT F
TRADE
DATE
Wells Fargo Natl Bk West Las Vegas 01/30/20
SETTLEMENT
DATE
01/30/20
CITY OF TEMPLE CITY
CERTIFICATE OF DEPOSITS -MUTUAL SECURITIES
As of 6/30/2021
Annualized
PRINCIPAL Nominal Rate of
AMOUNT Markel Value Coupon Retum
250,000.00 256,847.50 1.90000 1.90000
$ 250,000.00 $ 256,847.50 1.90000 1.90000
Portfolio
Weighting
100.00%
100.00%
Weighted
Coupon
1.90000000
1.90000000
NEXT
COUPON
DATE
02/29/2020
MATURITY
DATE
01/30/2023
ATTACHMENT F
ISSUED SETTLEMENT
DATE DATE
3133EJP94 -Federal Farm 09/30/19 09/30/19
3130AKVY9-Federal Home Loan 05/19/21 05/19/21
3130AKXB7 -Federal Home Loan 04/13/21 04/13/21
Totals/Averages:
CITY OF TEMPLE CITY
GOVERNMENT SECURITIES -MUTUAL SECURITIES
As of 6/30/2021
An11ualized
PRINCIPAL Nominal Rate of
AMOUNT Market Value Coupon Return
1,000,000.00 1,000,170.00 2.11900 2.11900
1,201,027.50 1,199,581.65 0.52000 0.52000
987,500.00 987,870.00 0.58000 0.58000
$3,188,527.50 $3,187,621.65 3.21900 3.21900
NEXT
Portfolio Weighted CALL MATURITY
Weighti119 -Coupon DATE DATE
31.36% 0.66457009 10/02/2019 11102/2021
37.67% 0.19586919 07/2912021 01/29/2026
30.97% 0.17962837 05/11/2021 02111/2026
100.00% 1.04006765
ATTACHMENT F
CITY OF TEMPLE CITY
FIXED INCOME -MUTUAL SECURITIES
As of 6/30/2021
Annualized NEXT
ISSUED SETTLEMENT PRINCIPAL Noniinal Rate of Portfolio Weighted CALL MATURITY
DATE DATE AMOUNT Market Value Coupon Return Weighting Coupon DATE DATE
06406RAL 1 12/16/19 12/16/19 1,002,424.92 1,049,340.00 2.10000 2.10000 24.49% 0.51437890 04/24/2020 10/24/2024
13605\/VW,/l/7 04/27/20 04/27/20 331,147.35 330,194.70 2.50000 2.50000 8.09% 0.20228948 04/10/2021 04/10/2025
06367WX81 07/30/20 07/30/20 750,000.00 741,637 50 1.00000 1.00000 18.33% 0.18326235 07/31/2021 07/30/2025
48128G4B3 06/22/21 06/22/21 1,000,000.00 991,750.00 0.75000 0.75000 24.43% 0.18326235 12/22/2021 12/22/2025
89114TZD7 06/03/21 06/03/21 1,008,921.27 1,002,100.00 1.20000 1.20000 24.65% 0.29583566 12/03/2021 06/03/2026
Totals/Averages; $ 4,092,493.54 $ 4,115,022.20 7.55000 7.55000 100.00% 1.37902875
ATTACHMENT F
CITY OF TEMPLE CITY
CERTIFICATE OF DEPOSITS -US BANK
As of 6130/2021
Annualized NEXT
TRADE SETTLEMENT PRINCIPAL Nominal Rate of Portfolio Weighted COUPON MATURITY
DATE DATE AMOUNT Market Value Coupon Return Weighting Coupon DATE DATE
Discover Bank 03119/19 03/20/19 100,000.00 100,229.10 1.55000 1.55000 2.13% 0.03304904 08/24/2021
Pinnacle Bank TN 04/13/20 04/21/20 249,000.00 250,018.91 1.10000 1.10000 5.31% 0.05840085 10/21/2021
State Bank India 03/19/19 03/20/19 154,000.00 154,884.11 1.65000 1.65000 3.28% 0.05417910 10127/2021
BMW Bank North America 11/29/19 11/29119 247,000 00 249,044.67 1.70000 1.70000 5.27% 0.08953092 11129/2021
Steams Bank 11127/17 12/01/17 249,000.00 251,542.04 2.10000 2.10000 5.31% 0.11149254 01/01/2018 12/01/2021
Morgan Stanley Bank 01/06/20 01/09/20 247,000.00 249,554.23 1.75000 1.75000 5.27% 0.09216418 01/10/2022
Morgan Stanley Bank 01/06/20 01/09120 247,000.00 249,554.23 1 75000 1.75000 5.27% 0.09216418 01/10/2022
Enerbank USA 01/21/20 01/29/20 248,000.00 250,616.40 1.65000 1.65000 5.29% 0.08724947 01/28/2022
Ally Bank 01/22119 01/31/19 153,000.00 155,898.74 2.90000 2.9 0000 326% 0 09460554 07/31/2019 01/31/2022
TIAAFSB 02105/19 02/22/19 246,000.00 251,003.64 2.85000 2.85000 5.25% 0.14948827 08/22/2019 02/22/2022
Investors Bank Short Hill NJ 02/18/20 02/28/20 248,000.00 250,870.85 1.60000 1.60000 5.29% 0.08460554 08/28/2020 02/28/2022
American Express Bank 04/26/17 05/03/17 247,000.00 252,248.75 2.35000 2.35000 5.27% 0.12376333 05/03/2022
Goldman Sachs Bank USA 05/05/20 05/14/20 148,000.00 148,627.52 0.5D0D0 0.50000 3.16% 0.01577825 05/13/2022
Synchrony Bank 05/14/19 05/17/19 246,000.00 251,312.86 2.45000 2.45000 5.25% 0.12850746 11117/2D19 05/17/2022
Flagstar Bank 05/29/19 06/12/19 246,000.00 252,034.87 2.4500D 2.45000 5.25% 0.12850746 06/13/2022
State Bank of Reeseville 06/11/19 06/28/19 248,000.00 253,797.50 2.25000 2.25000 5.29% 0.11897655 06/28/2022
Connectone Bank 04/13/20 04/22/20 249,000.00 252,876.18 120000 1.20000 5.31% 0.06371002 10/21/2022
Allegiance Bank Texas 03/19/19 03/20/19 125,000.00 130,437.88 2.65000 2.65000 2.67% 0.07062900 02/14/2023
Medallion Bank Utah 12/27/18 01/03/19 249,000.00 269,083.84 3.30000 3.30000 5.31% 0.17520256 02/03/2019 01/03/2024
First Oklahoma Bank 05/05120 05/12/20 247,000.00 247,234.40 0.85000 0.85000 5.27% 004476546 06/15/2020 05/15/2024
Texas Exchange Bank 11/20/20 11/25/20 48,000 00 47,664.38 0.60000 0.60000 1.02% 0.00614072 11/25/2025
BMO Harris Bank 02/18/21 02/18/21 249,000.00 247,246.54 0.55000 0.55000 5.31% 0.02920043 02/18/2026
Totals/Averages: $ 4,690,000.00 $4,765,781.64 1.80682 1.80682 100.00% 1.85211087
ATTACHMENT F
CITY OF TEMPLE CITY
GOVERNMENT SECURITIES -US BANK
As of 6/30/2021
Annualized NEXT
ISSUED SETTLEMENT PRINCIPAL Nominal Rate of Portfolio Weighted CALL MATURITY
DATE DATE AMOUNT Market Value Coupon Return Weighting Coupon DATE DATE
31364DPEO 05/04/21 05/04/21 489,251.00 486,623.00 0.56000 0.56000 29.01% 0.16245457 03/23/2025
3134GVB31 06/09/20 06/10/20 250,000.00 249,166.00 0.75000 0.75000 14.82% 0.11117661 05/28/2021 05/28/2025
3135G04Z3 06/21/21 06/21/21 199,840.00 198,395.60 0 50000 0.50000 11.85% 0.05924676 06/17/2025
3135GO5X7 05/21/21 05121121 247,414.75 246,416.50 0.37500 0.37500 14.67% 0.05501347 08/25/2025
3130AKVN3 01/29/21 01/29/21 500,000.00 491,611.00 0.52000 0.52000 29.65% 0.15416491 01/29/2022 01/29/2026
Totals/Averages: $1,686,505.75 $1,672,212.10 2.70500 2.70500 100.00% 0.54205631
ATTACHMENT F