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Home My Public Portal About15) 7L First Quarter Financial Status ReportCity Council November 17 , 2015 Page 2 of 4 completed and submitted to the City Council on a monthly and quarterly basis , reflects the cash balances and investments of $22,763 ,841.46 as of September 30 , 2015. 2 . Revenue Summary Report This report (Attachment "B") is a summary of revenues by fund and category for the period of July 1, 2015 through September 30 , 2015 . The City has rece ived and recorded $1 ,140,670 (9 % of estimated revenues) in the General Fund to date. This represents an increase of $16 ,510 (or 1.5%) of revenues for the same period last fiscal year. The City 's General Fund re venues are summarized into seven categories : • Taxes include revenues from property tax, sales tax , real estate transfer tax and franchise fees. Primary revenue sources in this category are property tax and sales tax . The first major installment of property tax w ill not be received unti l De cember 2015 . Th is entire category is $2 3,076 (or 11 %) less from the same period last year primarily due to a slightly lower sales tax receipt. Staff is meeting with the sales tax consultant the week of November 16 , 2015 and will continue to monitor activity; • Licenses and Permits include bu i ld ing permits , business license fees , animal license fees , parking permits , impound fees , temporary parking permits , code enforcement fees and in lieu parking fees . Collections for the first quarter this yea r are $80 ,840 (o r 17 %) lower than last year p ri marily due to less transa ctions in bui ld ing pe rmits and en c roachment perm it fees . Revenues will continue to be monitored ; • Intergovernmental is primarily Motor Vehicle In Lieu . To date, revenues have not been realized as th e two major payments from the State of Cal ifornia will be in January 2016 and May 2016 ; • Charges for Services are from recreation fees , facility rental fees, zoning fees and plan check fees . These revenues are reflected when serv ices , classes or events are prov ided . Recreat ion fees are $43 ,000 (or 27 %) higher from last year as a result of increases in both the registration fees and program demands . Plan check fees are $58 ,000 (or 68 %) higher due to increase for resident ial and industrial activities in th is quarter comparing to the first quarter of last fiscal yea r. Also included in thi s category , is the shared ma intenance charge to LA County Public Library for th e mainte nan ce provided to the library parking lot; • Fines and Forfeitures reflect rev e nues received from court fines on a monthly basis and parking citations issued by the Los Angeles County Sheriff's Department and the City 's Parking Control Officers . The City received appro xim ate ly $38,000 or (143%) h igher c om pared t o th e first qu a rt er of th e prior year due to the timing of the collection of receipts ; City Council November 17 , 2015 Page 3 of 4 • Use of Mon ey and Property category is interest earned on City investments from LAIF , Certificates of Deposit (CD) and bond investments . LAIF interest is received on a quarterly basis and MorganStanley Smi t h Barney and other investment interests from COs and Government Securities are received mo nthly, semi -annua ll y or w hen th e acco unt matures. Th is category is approximately $11 ,000 (36%) lowe r compared to th e sa m e period last yea r a lso due to th e timing of interest rece ipts ; and • Miscellaneous category reflects revenues received on a monthly basis from reimbursement for recyclable revenue , re ntal income , reimbursement of administrative charge from the Lighting/Landscape District and other misce llan eous sources . This category is $5 ,570 or (11 %) higher than the same period of the last fiscal year. Non-Genera l funding sources (i.e., Special Revenue Funds) are received from various funds such as Traffic Safety, Gas Tax , Proposition A , Proposition C , Measure R, Lighting/Landscape District and Commun ity Development Block Grant (CDBG). Some rev enues are received on a monthly basis while others are received when reimbursement requests are s ubmitted to the other governmenta l agencies (i.e ., or Sta te of California of Los Ang eles Co u nty). A ctual revenues received during the first quarter are $25 ,880 lower due to timing of reimbursements . 3 . E xpenditur e Summary Report This report (Attachment "C") is a summary of expenditures for the period of July 1, 2015 through September 30 , 2015 . By the end of the f irst quarter, the percent expended is ge nerally 25 %. However, some payments are made in July that pay for the entire annual expe nse of th e program (i .e ., memberships , insurance premiums and CaiPERS retire ment contributio ns) which skew the percentage expended reported . Converse ly , programs with lower percentages expended can be due to timing of the receip t of inv o ices by the City . (i .e ., Invoicing for contracts with Los Angeles Co unty typically is a month or two behind). While some line it ems may exceed budgeted expenditures during the fiscal year operation , there are other line items where actual expenditures maybe significantly less than the adopted budgeted due to unforeseeab le or unanticipated events during th e budget p lanning process . As a result , expen ditures that are not budgeted but are justifiable ca n be accommodated by an internal budget transfer within the same program . An internal budget transfer request is made by the Department Head and approved by th e Administrative Services Director and the City Manager. For the expenditures that are not budgeted and cannot be accommodated within the program budget, (i.e ., real lo ca ti o n or re -appropriation between programs for unbudgeted items), there will need to be a request from staff to the City Council for review and approval. 4. Capita /Improvement Financia l Statu s Report City Council November 17 , 2015 Page 4 of 4 The first quarter expenditures reflect costs for th ree Citywide Capital Improveme nt Projects: Repaving of Streets per Re-assessment Pavement Management Plan ; Redesign and Construction of Las Tunas Drive ; and the Demolition and Site Preparation for 5800 Temple City Bouleva rd Parking Lot Project (Attachment "D"). CITY STRATEGIC GOALS: The City Council is requested to receive and file the First Quarter F i nancial Status Report at the close of the first quarter of FY 2015-16 and further City's Strategic Goal to promote Good Governance . FISCAL IMPACT: Th is item does not have an impact on the FY 2015-16 City Budget. ATTACHMENTS : A. City of Temple City Treasurer's Report B . City of Temp le City Revenue Summary Report C. City of Temple City Expend iture Summary Report D . City of Temple City Capital Improvement Financial Status Report CITY OF TEMPLE CITY TREASURER'S REPORT September 30 , 2015 Cash in Ban k Wells Fargo Ban k-Checking -Payro ll -Merchant Card US Ba nk-Checking Ca me llia Fund Eas t West Ban k -Mo nth ly Market Acco un t Wel l s Fa rgo Bank -Checki ng Petty C ash LA IF Effective Quarter to Date Yield 9/30/15 0.330 % MorganSt anley SmithBa rn e y Certifi cates of De posit Weig hted Average to Date Yield 9/30/15 1.23 4% Gove rn ment Securities Weight ed Average to Date Yield 9/30/15 1.183% Co rpo rate Fix ed Income Weig hted Average to Da t e Yi eld 9/30/15 1.500 % Money Market Mutua l Securities Go ve rnm ent S ecuriti es Weighted Average to Date Yie ld 9/30/15 2.0 17% Money Market US Ba nk Cert ifi cates of Deposit W eigh t ed Average to Date Yie ld 9/30/15 0.916% Gove rn men t Secu rities Weigh ted Average to Date Yie ld 9/30 /15 1.167% Los Ange les C ounty Poo l Investm ent Fu nd As of 9/30/15 0.770% OPE B Investm ent As of 8/3 1/15 T OTAL PRIOR MO NTH STATUS Tot al $ $ COS T VALUE 50 4 ,175.53 15,783 .60 15 ,34 1.15 17 ,516 .01 160 ,000.00 8 ,901 .34 2,100.00 722,787.48 2,373 ,000 .00 1,365 ,000 .00 50 8 ,250.00 7 ,1 12 .95 5 ,66 2,42 0 .00 5 ,002 .84 2,577 ,000 .00 1,2 19 ,45 0 .56 6 ,50 0 ,00 0 .00 1,100 ,000.00 22 ,763,841.46 23,061 ,656 .30 ATTACHMENT A $ $ MARKET VALU E 504,175 .5 3 15 ,783.60 15 ,341 .15 17 ,516.01 160 ,000 .00 8 ,901 .34 2 ,100 .00 723 ,059.23 2,373,543.08 1,365 ,565 .50 505 ,215 .00 7 ,112 .95 5,539 ,035 .0 0 5,002 .84 2 ,577 ,000 .00 1,23.3 ,959 .29 6 ,553,735.48 1,222,120 .14 22 ,829 ,166.14 23 ,156 ,143.51 All investments are placed in accordance with the City of Temple City 's Investment Policy . The above summary provides sufficien t cash fl ow li qu idity to meet the next s ix month's estim ated expenditures . Thi s re port is in accordan ce with Government Code Section 53646. IU-- TRACEY L. HA USE C ITY TR EASURER CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P15-02 Public Arts at Live Oak Park P16-01 Live Oak Park Walking and Jogging Path Recap of Funding Sources CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL15-SEP15 Fund ing So urce Budget (D) Public Arts Fund 25 ,000 (D) DE FG 240,000 Park Acquisition 80 000 320 ,000 Pa rk Acqu isi tion 80 ,000 Public Arts Fund 25 ,000 5t h District 2015 Excess Funds Grant 240 ,000 TOTAL CIP -PARKS MAINTENANCE I FACILITIES 345 ,000 (E) = Essential (N) = Necessary (M) = Mandated (R) = Routi ne PARKS-MAINTENANCE/FACILITI ES ACCT. NO . 60-980-59-4810 Year To Date E xpen diture Balance 25,000 320 ,000 ) > -~ -... > ( 2 - : ~ ::: n -345,000 [ 01111 ~ -H (D) = Disc re tionary c tJ CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-05 Street Sweeping Signage Rec ap of Funding Sources TOTAL CIP-PARKING ADMINISTRATION (E) = Essentia l (N) = Neces sary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL15-SEP15 Fundi n g Source Budget (D) Gas Tax 12 ,180 Gas Tax 12,180 12,180 (M) = Mandated (R) = Routine STREET CLEANING ACCT. NO. 60-980-72-4810 Year To Date Ex penditure Balance 12 ,180 -12,180 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P15-06 Update Traffic Signals on Temple City Blvd . between El Camino Real Avenue and Ellis Lane , and Other Safety Improvements CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL15-SEP 1 5 Funding Source Budget (N) Highway Safety 970 ,300 I mprovement Program Genera l Fund 98 ,100 1,068,400 P15-07 Upgrade Traffic Signals Citywide and Install (N) H ighway Safety 282 ,900 Other Safety Improvements Improvement Program Gen eral Fund 21 600 30 4 ,500 Recap of Funding Sources General Fund 119 ,700 H ighway Safety 1 ,25 3,200 Improvement Program TOTAL CIP-TRAFFIC SIGNAL MAINTENANCE 1,372,900 (E) = Essentia l (N) = Nec essary (M) = Mandated (R) = Ro ut ine TRAFFIC SIGNAL MAINTENANCE ACCT. NO. 60-980-73-4810 Year To Date E xpenditure Balance 1,068,400 304 ,500 -1,372 ,900 (D) = D iscretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAI L No. Project P 12-04 Ci tywide Upgrade Traffic Street Signage P13-02 Repaving of St reets pe r Re -asses sment Pavement Man age men t Pl an P 13-04 Redesign and Construction of Las Tunas Drive P13-12 Bicy cl e Master P lan Implementation - Installation of 12 .6 Miles of Class II & Ill Bicycle Lanes P14 -07 Catch Basin Inserts Recap of Funding So urces T OTAL C IP -STREET CONST RUCTION (E) = Essential (N) = Necessary CITY OF TEMPLE CI TY PRE LI M INARY FINANCIAL STATUS REPORT JUL15 -SEP 15 Funding Source Budget (M) General Fun d 200 ,000 (E) Gas T ax 61 4 ,00 0 (N) Prop C 84 ,000 (N) Bicycle T ransportation Acct 128 ,250 (E ) General Fund 66 ,500 General Fund 266,500 Prop C 84 ,000 Gas Ta x 614 ,000 Bicycle T ransportatio n A cct 128,250 1,092 ,750 (M) = Mand ated (R) = Routi ne STREET CONSTRUCTION ACCT. NO . 60 -980 -75-4810 Year To Date Expenditure Ba la nce 200 ,000 3 ,195 610 ,8 05 9 ,272 74 ,728 128,250 66,500 12,4 67 1,080,283 (D ) = Dis cretion ary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-1 1 Rebuild the Roof for the City Yard Bu ild in gs Rec ap of Fund i ng Sources TOTAL CIP -GEN GOV'T BLDGS (E) = Essent ia l (N) = Neces sary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15-SEP15 Funding Source Budget (D) General Fund 14,500 General Fund 14 ,500 14,500 (M) = Mandated (R) = Ro uti ne GENERAL GOVERNMENT BUILDINGS ACCT. NO. 60 -980-81-4810 Year To Date Expen diture Balance 14,500 -14,500 (D) = D iscretio nary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No . Project P14-13 Demolition and Site Preparation for 5800 T emple City Blvd . Parking Lot Rec ap o f Fundin g So urces TOTAL CIP-GEN GOV'T SLOGS (E ) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL15-SEP15 Funding Source Budget (D) General Fund 90 ,000 General Fund 90 ,000 90 ,000 (M) = Mandated (R) = Routine PARKING FACILITI ES ACCT. NO . 60-980 -82-4810 Year To Date Expenditure Balance 762 89 ,238 76 2 89,238 (D) = Discretionary