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Home My Public Portal About7E FY 2013-14 Fourth Quarter Preliminary Financial Status ReportCity Council September 16 , 2014 Page 2 of 6 adjustments to the equipment replacement and capital improvement programs for net decreases of $24,500 and $55,000 respectively. 6. On March 18, 2014 , the City Council approved a budget appropriation in the amount of $23,400 from the General Fund for professional services from Bob Murray & Associates for executive recruitment services for a permanent City Manager. 7 . On April 1, 2014, the City Council approved a budget amendment to appropriate an additional $150 ,000 for the Housing Rehabilitation Loan Program and $50 ,000 for the Asbestos Testing and Abatement Program from Community Development Block Grant (CDBG) funds. 8. On May 6 , 2014, the City Council approved a budget amendment to appropriate an additional $20 ,800 for the Downtown Parking Lot American Disabilities Act (ADA) Improvement Project and $19 ,200 for the Temple City Boulevard Accessibility ADA Improvement Project from CDBG funds. 9. On May 20, 2014, the City Council approved the Third Quarter budget amendments authorizing staff to increase revenue estimates in the amount of $104,550 and appropriate an additional $29,000 in various operating accounts. 10. On June 17, 2014, the City Council approved the Fourth Quarter budget amendments increasing revenue estimates in the General Fund in the amount of $352,250, increasing Special Revenue Fund revenues estimates in the amount of $884 ,660, and appropriating an additional $34,705 in various General Fund operating accounts, and $13,100 in other Funds . ANALYSIS: Even though the City completed its fiscal and program year for 2013-14, on June 30, 2014, all financial activities for FY 2013 -14 have yet to be recorded due to timing of receipts and recognition of revenues and expenses. This process of recording financial transactions for a few months after the end of a fiscal year is typical , and is commonly referred as accruing, or recording financial transactions for the appropriate fiscal year. In order to keep the City Council updated on the status of the City's financial activities , on a quarterly basis for FY 2013-14 , these preliminary reports are presented . These reports , however, do not include all the adjustments for accrued revenues , which will be significant. For example , two months of sales tax and property tax receipts attributable to the months of May and June, 2014 , from the State of California and County of Los Angeles are still being finalized . There will be other smaller adjustments as well to other revenue accounts. While most expenses have been recognized, there may be additional minor adjustments. City Council September 16, 2014 Page 3 of 6 The Comprehensive Annual Financial Report (CAFR) will be an all-inclusive reporting of financial transactions for FY 2013-14 , and will be completed by Vasquez and Company, LLP when their independent audit is concluded, later this fall (i.e., December 2014). The Fourth Quarter Financial Status Report includes the following four sub reports: 1) City Treasurer's Report; 2) Preliminary Summary Report; 3) Expenditure Summary Expenditure Report; and 4) Capital Improvement Financial Status Report. 1. City Treasurer's Report The Treasurer or Chief Fiscal Officer (i.e., Administrative Services Director) is required to render an annual statement of investment policy to the legislative body of the local agency and to complete 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 "A"), which is completed and submitted to the City Council on a monthly and quarterly basis , reflects the cash balances and investments of $20,900 ,588.52 as of June 30, 2014. This is the only report presented that will not deviate from reported cash and investments in the final FY 2013-14 CAFR. 2. Preliminary Revenue Summary Report This report (Attachment "B ") is a summary of revenues by fund and category for the period of July 1, 2013 through June 30, 2014. The City has received and recorded $12.1 million (94% of estimated revenues) in the General Fund to date. This represents an increase of $1 .06 million or 9.5 %, of revenues for the same period last fiscal year. Again as discussed above , year-end revenue accruals (actual receipt of revenues in July and August that are attributable to June) have not yet been recognized due to timing. We are anticipating actual General Fund receipts will be short from the estimated revenues, as the City has yet to receive reimbursement for the windstorm activities from the State of California, which is discussed later in this report. 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. Primary revenue sources in this category, prop erty tax is 6.4 % higher and sales tax is about the same from the same period last year. Currently actual receipts collected, in this category to date , are within 93 % of estimates , however after the accruals have been recorded , it is anticipated the budget expectations will be met; • Licenses and Permits include building permits, business license fees , animal license fees , parking permits , impound fees, temporary parking City Council September 16, 2014 Page 4 of 6 permits, code enforcement fees, in lieu parking fees and encroachment permit fees . Actual receipts have exceeded estimates by 4% overall . • Intergovernmental is primarily Motor Vehicle In Lieu. The actual collections met budget expectations . There was an increase in revenues of 5.6% from the prior year; • Charges for Services are from recreation fees, facility rental fees, zoning fees , plan check fees and public works and engineering fees. These revenues are reflected when services , classes or events are provided. Recreation fees are 5.0% higher from last year. Plan check fees came in at $579,000, or 276% higher, due to increased plan checking for the Camellia Square and Olson Projects. Also included in this category, is the shared maintenance charge to LA County Public Library for the maintenance provided to the library parking lot; • Fines and Forfeitures reflect revenues 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 . Actual collections did not meet budgeted expectations (86% of the estimated revenues were collected) due to a reduction in moving violations and reduced staff hours in Parking Control. However, overall revenue increased in this category by 8.9% from the prior year; • Use of Money 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 SmithBarney and other investment interests from COs, Government Securities and Corporate Bonds are received monthly, semi- annually or when the account matures. Actual receipts are 93% of estimates due to the loss of interest from Applebee 's loan receivable; and • Miscellaneous category reflects revenues received on a monthly basis from reimbursement for recyclable revenue, rental income, reimbursement of administrative charge from the Lighting/Landscape District and other miscellaneous sources. This category reflects only 54% revenues collected primarily due the $197,000, or 44.5% of the total budgeted in this category , for the windstorm grant reimbursement from the State Department of Transportation that the City has yet to receive. Non-General 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 CDBG. Some revenues are received City Council September 16, 2014 Page 5 of 6 on a monthly basis while others are received when reimbursement requests are submitted to the other governmental agencies (i.e., or State of California of Los Angeles County). Actual revenues received currently is 95% of budgeted estimates primarily due to the fact that the accruals for transportation related funding from the State of California and Los Angeles County have not yet been accrued and recorded, similar to the General Fund accrued revenues previously discussed. Revenue is $851,601 or 20.4% higher to date this year from last year primarily due to a Federal grant reimbursement in the amount of $682,664 for the Rosemead Boulevard Project. 3. Preliminary Expenditure Summary Report This report (Attachment "C") is a summary of expenditures for the period of July 1, 2013 through June 30, 2014. Any percentage of expenditures that is less than 110% of the adopted budget is considered immaterial when considering the entire operating budget of $17,912,210, as the excess is typically only a few thousand dollars. Expenditures in operations reported that exceed the adopted budget by more than 1 0% include: • Purchasing FY 2013-14 Budget $148,200 Actual Expenditures $164,782 Percentage Expended 111% Additional office supplies and equipment maintenance services were needed during the fiscal year; • Traffic Engineering FY 2013-14 Budget Actual Expenditures Percentage Expended $15,880 $22,559 142% Additional traffic engineering services during the fiscal year were necessary; While some line items exceeded budgeted expenditures, there were other line items where actual expenditures were significantly less that the adopted budgeted. As a result, savings from these line items funded additional resources required for the programs outlined above. Overall, operating expenditures did not exceed the adopted budget. When considering all expenditures, operating and capital, 76% of the total budgeted expenditures were spent. Capital expenditures are primarily the reason for the shortfall in spending and are discussed below; and City Council September 16, 2014 Page 6 of 6 4. Capita/Improvement Financial Status Report The fourth quarter expenditures reflect costs for 20 Citywide Capital Improvement Projects undertaken in FY 2013-14 (Attachment "D"). Actual expenditures are 68% of budgeted appropriations. This level of expenditures is typical with Capital Improvement Projects as completion of some projects is over multiple fiscal years (i.e., Redesign and Construction of Las Tunas Drive). Also, in some cases the entire amount budgeted was not required to complete the project (i.e., Street Sweeping Street Signage). Unspent funds are either re-programmed in the FY 2014-15 City Budget or returned to the respective Fund Balances. CONCLUSION: As it will be a couple more months before the audited CAFR will be complete, it is important to keep the City Council updated on the financial status of the operations and capital improvement projects in this interim period. As a result, the City Council is requested to receive and file the FY 2013-14 Fourth Quarter Preliminary Financial Status Report. FISCAL IMPACT: This item does not have an impact on the FY 2013-14 or the FY 2014-15 City Budgets. ATTACHMENTS: A City of Temple City Treasurer's Report B. City of Temple City Preliminary Revenue Summary Report C. City of Temple City Preliminary Expenditure Summary Report D. City of Temple City Preliminary Capital Improvement Financial Status Report 2012-13 2012-13 BUDGET YEAR TO DATE JUL-JUN ------------------------------------------- Taxes 4,857,700 4,553,570 Licenses and Permits 1,330,000 1,334,317 Intergovernmental 3,321,400 3,291,781 Charges for Services 785,760 956,207 Fines, Forfeitures, & Penalities 525,000 486,304 Use of Money and Property 455,000 208,786 Miscellaneous 206,000 236,251 ------------------------------------------ Total General Fund Revenue 11,480,860 11,067,216 Total Special Revenue Funds 5,186,560 4,156,388 ------------------------------------------- TOTAL REVENUE 16,667,420 15,223,604 =========== ============ 2013-14 2013-14 BUDGET YEAR TO DATE JUL-JUN ------------------------------------------- 5,123,500 4,747,818 1,383,000 1,432,747 3,476,950 3,476,907 1,618,300 1,508,309 615,000 530,035 215,000 200,524 441,900 237,198 ------------------------------------------- 12,873,650 12,133,538 5,247,730 5,007,989 ------------------------------------------- 18,121,380 17,141,527 =========== ====:::::======= PERCENT RECEIVED --------------------- 93% 104% 100% 93% 86% 93% 54% --------------------- 94% 95% --------------------- 95% =========== ~ -I )> () I :5: m z -I OJ 2012-13 2012-13 2013-14 2013-14 PERCENT BUDGET YEAR TO DATE BUDGET YEAR TO DATE EXPENDED JUL-JUN JUL-JUN ----------------------------------------------------------------------------------------------------------- MANAGEMENT SERVICES City Council 161,445 135,126 213,575 192,258 90% City Manager 870,305 788,534 1,105,540 993,927 90% City Attorney 452,700 447,332 502,000 402,027 80% Elections 73,985 76,361 0 750 Council Support 288,070 233,181 326,925 293,634 90% ----------------------------------------------------------------------------------------------------------- 1,846,505 1,680,534 2,148,040 1,882,596 88% ADMINISTRATIVE SERVICES DEPARTMENT Support Services 192,575 192,167 227,010 220,744 97% Insurance/Benefits 722,360 1,611,887 558,015 430,966 77% Accounting 487,115 492,544 552,350 558,105 101% Purchasing 138,950 149,823 148,200 164,782 111% ----------------------------------------------------------------------------------------------------------- 1,541,000 2,446,421 1,485,575 1,374,597 93% COMMUNITY DEVELOPMENT DEPARTMENT Planning 608,140 613,565 2,262,285 841,107 37% Building 399,440 483,421 900,175 968,764 108% Housing 542,810 275,142 405,500 207,376 51% ---------------------------------------------------------------------------------------------------------- 1,550,390 1 ,372,128 3,567,960 2,017,247 57% )> -I COMMUNITY SERVICES DEPARTMENT -I )> Recreation/Human Services 1,074,280 1,007,805 1,227,485 1,161,243 95% 0 Public Transportation 753,330 701,680 792,875 638,628 81% Parks-Maintenance/Facilities 848,985 809,397 894,345 848,286 95% I Trees & Parkways 500,865 471,534 576,575 555,429 96% ~ -----------------------------------------------------------------------------------------------------------m 3,177,460 2,990,416 3,491,280 3,203,586 92% z -I 0 2012-13 2012-13 2013-14 2013-14 PERCENT BUDGET YEAR TO DATE BUDGET YEAR TO DATE EXPENDED JUL-JUN JUL-JUN ----------------------------------------------------------------------------------------------------------- COMMUNITY SERVICES DEPARTMENT PUBLIC SAFETY DIVISION Law Enforcement 3,836,718 3,740,904 3,988,660 3,885,063 97% Traffic Engineering 8,280 13,010 15,880 22,559 142% Animal Control 189,150 190,260 199,615 198,274 99% Emergency Services 88,905 88,833 147,565 148,439 101% Community Preservation 671,725 664,407 490,770 514,964 105% Parking Administration 264,780 325,108 405,505 402,185 99% ----------------------------------------------------------------------------------------------------------- 5,059,558 5,022,522 5,247,995 5,171,484 99% PUBLIC WORKS DIVISION Administration & Engineering 211,870 180,514 277,810 254,432 92% Street Cleaning 122,340 128,737 126,340 125,897 100% Traffic Signal Maintenance 156,800 95,498 151,800 91,048 60% Traffic Signs & Strip Main!. 172,325 82,015 221,620 141,533 64% Street Maintenance 262,500 71,500 120,470 88,452 73% Sidewalk Maintenance 165,000 49,229 165,000 85,589 52% Solid Waste Management 8,690 9,221 58,690 47,860 82% Street Lighting 349,630 294,924 373,285 321,259 86% ----------------------------------------------------------------------------------------------------------- 1 ,449,155 911,638 1,495,015 1,156,070 77% MAINTENANCE DIVISION General Government Buildings 280,495 311,460 277,605 281,761 101% Parking Facilities 218,775 203,964 162,340 197,033 121% Graffiti Abatement 31,620 36,730 36,400 43,742 120% ----------------------------------------------------------------------------------------------------------- 530,890 552,154 476,345 522,536 110% SUB TOTAL PROGRAM EXPENDITURES 15,154,958 14,975,813 17,912,210 15,328,116 86% 2012-13 2012-13 2013-14 2013-14 PERCENT BUDGET YEAR TO DATE BUDGET YEAR TO DATE EXPENDED JUL-JUN JUL-JUN ----------------------------------------------------------------------------------------------------------- SUB TOTAL PROGRAM EXPENDITURES 15,154,958 14,975,813 17,912,210 15,328,116 86% CAPITAL IMPROVEMENT FUND 16,407,925 9,269,731 19,802,605 13,386,534 68% EQUIPMENT REPLACEMENT 263,485 192,876 432,150 302,929 70% TRUST FUND 0 5,435 5,000 5,977 120% ----------------------------------------------------------------------------------------------------------- TOTAL EXPENDITURES 31,826,368 24,443,855 38,151,965 29,023,556 76% =========::::= ===========;:;;: =========== ============ =========== CDBG LOAN REPAYMENT 85,550 99,483 24,500 24,454 100% EECBG GRANT EXPENSE 104,235 104,228 0 0 DISASTER FUND (WINDSTORM) 0 1,800 0 0 TC TREE RESTORATION PROGRAM 0 51,326 0 12,365 (Grant reimbursement) ----------------------------------------------------------------------------------------------------------- GRAND TOTAL 32,016,153 24,700,692 38,176,465 29,060,375 76% =========== ============ =========== =========::::::== =========== CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-02 Citywide Park & Open Space Master Plan P13-01 Additional Concrete for Performing Arts Area P14-01 Repair Operable Walls in Community Center P14-02 Installation of Hand Dryers in Park Restrooms P14-03 New Playground Equipment for Temple City Park Recap of Funding Sources CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (D) General Fund 70,000 (D) General Fund (D) General Fund 15,000 (D) General Fund 10,500 (D) General Fund - BCR General Fund 95,500 Beverage Container Recyclable TOTAL CIP-PARKS MAINTENANCE I FACILITIES 95,500 (E) = Essential (N) = Necessary (M) = Mandated (R) = Routine PARKS -MAINTENANCE/FACILITIES ACCT. NO. 60-980-59-4810 Year To Date Expenditure Balance 69,902 98 325 (325) 12,988 2,012 10,500 - ~~ ~ ~p ~~ ::::; 93,715 1,785 ::,. cp (D) = Discretionary --l (J CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-07 Citywide Traffic Calming Study Master Plan P14-04 Citywide Traffic Calming Implementation Recap of Funding Sources TOTAL CIP-TRAFFIC ENGINEERING (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13 -JUN 14 Funding Source Budget (N) MeasureR 100,000 (N) General Fund 150,000 General Fund 150,000 MeasureR 100 000 250,000 (M) = Mandated (R) = Routine TRAFFIC ENGINEERING ACCT. NO. 60-980-62-4810 Year To Date Expenditure Balance 100,000 5,199 144,801 5,199 244,801 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-05 Street Sweeping Signage Recap of Funding Sources TOTAL CIP-PARKING ADMINISTRATION (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (D) Gas Tax 300,000 Gas Tax 300,000 300,000 (M) = Mandated (R) = Routine STREET CLEANING ACCT. NO. 60-980-72-4810 Year To Date Expenditure Balance 77,700 222,300 77,700 222,300 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P08-07 Upgrade Sewer Line on Longden from Rosemead to Encinita P08-11 Rosemead Boulevard Improvement Project 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 and Construction of Las Tunas Drive (E) ~ Essential (N) ~ Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (N) Sewer Reconstruction 400,000 Environment Protection 194,000 Agency 594,000 (N) Prop A 1,500,000 Prop C 1,580,645 Prop 1 B 14,465 MeasureR 794,230 Lighting/Landscape District 2,000,000 Surface Transp. Progr. Local 1,007,815 Highway Safety lmpr Prog 340,000 SAFE LU 719,920 Rubberized Asphalt Concret• 110,250 Grant Gas Tax 1,350,000 GF -Cal Trans 332,970 GF-Eco Dev Fd Reserve 1,000,000 Bicycle Transportation Acct 443,000 Congestion Mitigation and Air Quality 2,249,985 13,443,280 . (M) MeasureR 300,000 (E) Gas Tax 150,000 (N) Gas Tax (N) Prop C 1,200,000 (M) ~ Mandated (R) ~ Routine STREET CONSTRUCTION ACCT. NO. 60-980-75-4810 Year To Date Expenditure Balance 681,779 (87,779) 10,614,804 2,828,476 300,000 127,588 22,412 244 (244) 70,941 1 '129,059 (D) ~ Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P13-12 Bicycle Master Plan Implementation - Installation of 12.6 Miles of Class II & Ill Bicycle Lanes P13-13 Installation of 45 Separate Improvements around Nine School Sites P14-06 Slurry Seal Program P14-07 Catch Basin Inserts Recap of Funding Sources TOTAL CIP-STREET CONSTRUCTION (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL13-JUN14 Funding Source Budget (N) General Fund 48,350 Bicycle Transportation Acct 479,900 528,250 (N) General Fund 52,000 Safe Routes To School 431,900 483,900 (N) Gas Tax 125,000 (E) General Fund 66,500 General Fund 166,850 GF-Eco Dev Fd Reserve 1,000,000 GF-Cal Trans 332,970 Prop A 1,500,000 PropC 2,780,645 Prop1B 14,465 Gas Tax 1,625,000 MeasureR 1,094,230 Sewer Reconstruction 400,000 Lighting/Landscape District 2,000,000 Surface Transp. Progr. Local 1,007,815 Highway Safety lmpr Prog 340,000 SAFE LU 719,920 Rubberized Asphalt Concrel< 110,250 Grant Environment Protect Agency 194,000 Bicycle Transportation Acct 922,900 Safe Routes To School 431,900 Congestion Mitigation and 2,249,985 Air Quality 16,890,930 (M) = Mandated (R) = Routine STREET CONSTRUCTION ACCT. NO. 60-980-75-4810 Year To Date Expenditure Balance 36,661 491,589 25,531 458,369 125,000 66,500 11,557,548 5,333,382 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-08 ADA Barrier Removal Program P14-14 Public Parking Lot ADA Accessibility Improvement Project P14-15 ADA Accessibility Improvement Temple City Boulevard Project Recap of Funding Sources TOTAL CIP-SIDEWALK MAINTENANCE (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (M) CDBG 75,000 (M) CDBG 135,800 (M) CDBG 124,200 CDBG 335,000 335,000 (M) = Mandated (R) = Routine SIDEWALK MAINTENANCE ACCT. NO. 60-980-76-4810 Year To Date Expenditure Balance 75,000 17,049 118,751 15,343 108,857 32,392 302,608 (D) = Discretionary I CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P10-05 Council Chamber Renovation P13-06 Remote/Motorizing Access Gate for City Yard P13-08 Redesign City Hall Lobby, Conference Room and Management Office P14-09 City Hall Server Room HVAC P14-10 Repainting Inside City Hall P14-11 Rebuild the Roof for the City Yard Buildings P14-16 Purchase of 5922 Primrose Recap of Funding Sources TOTAL CIP-GEN GOV'T BLDGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (N) General Fund 340,000 (D) General Fund 7,000 (D) General Fund 28,000 (D) General Fund 15,000 (D) General Fund 30,000 (D) General Fund 5,000 (D) General Fund 1,276,175 General Fund 1,701,175 1,701,175 (M) = Mandated (R) = Routine GENERAL GOVERNMENT BUILDINGS ACCT. NO. 60-980-81-4810 Year To Date Expenditure Balance 347,548 (7,548) 7,000 111 27,889 15,000 30,000 488 4,512 1,268,417 7,758 1,616,564 84,611 (D) = Discretionary I CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-12 South Parking Lot P14-13 Demolition and Site Preparation for 5800 Temple City Blvd. Parking Lot Recap of Funding Sources TOTAL CIP-GEN GOV'T BLDGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 13-JUN 14 Funding Source Budget (D) Gas Tax 30,000 (D) General Fund 200,000 General Fund 230,000 230,000 (M) = Mandated (R) = Routine PARKING FACILITIES ACCT. NO. 60-980-82-4810 Year To Date Expenditure Balance 30,000 3,416 196,584 3,416 226,584 (D) = Discretionary --