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Home My Public Portal About14) 7J Third quarter treasurers report, revenue and expenditure summary reportsAGENDA ITEM 7.J. ADMINISTRATIVE SERVICES DEPARTMENT MEMORANDUM DATE: June 7, 2016 TO : The Honorable City Council FROM: Bryan Cook , City Manager Via : Tracey L. Hause, Administrative Services Director By : Lee Ma , Acco untant SUBJECT: THIRD QUARTER TREASURER'S REPORT, REVENUE AND EXPENDITURE SUMMARY REPORTS AND CAPITAL IMPROVEMENT FINANCIAL REPORT RECOMMENDATION: The City Council is requested to receive and file the Third Quarter City Treasurer's Report , Revenue and Expe nditure Summary Reports and the Capital Improvement Financ ia l Report . BACKGROUND I ANALYSIS : Historically on a quarterly basis , staff has submitted reports to the City Council on treasury activities and revenue and expenditure transa ctions. The following reports represent activities for the third quarter of Fiscal Year (FY) 2015-16 , January 2016 through March 2016: 1 . 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 report on a monthly basis 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 monthly and submitted to the City Council on a monthly and quarterly basis , reflects the balance as of March 3 1, 2016 . The City 's idle cash and reserves are invested with the Local Agency Investment Fund (LAIF), MorganStanley, SmithBarney , Mutual Securities , U.S. Bank , Los Angeles County Pool Investment Fund , and Public Agency Retirement Services. City Council June 7 , 2016 Page 2 of 4 2 . Revenue Summary Report This report is a summary for the period of July 1, 2015 to March 31 , 2016 , (Attachment "B"). By the end of the third 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 Fee , are not received equally over a 12 month period , thus providing a skewed percentage of actual rece ipts collected to date . 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 2015 . Property tax is $105 ,000 higher and sales tax is slightly lower than the third quarter of FY 2014-15 . • 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 . During the third quarter, revenues received from this category are $30 ,000 lower than the third quarter last fiscal year due to animal license fees , vehicle impound fees and temporary parking permit fees revenues . • Intergovernmental is primarily Motor Vehicle In Lieu , which is $129 ,000 higher than the third quarter last fiscal year revenue received , from the State of California . • 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. This category is $40 ,000 higher than the same quarter last year. • Fines and Forfeitures reflect revenues received from court fines and parking citations issued by the Los Angeles County Sheriffs Department ;md the Community Preservation Staff. Also , the City has contracted with Data Ticket, Inc . to process manual and electronic parking citation . Revenues receivad from th is category are $61 ,000 lower than the same quarter of last year due to a reduction of overnight parking citations issued as a result of reduced enforcement, less monthly revenue received from Data Ticket , additional appeals and timing of receipt of revenue . • Use of Money and Property category reflect interest earned on City investments from LAIF , Certificate s of Deposit (CD ) and bond investments . LAIF interest is received on a quarterly basis with the third quarter interest payment receive d in April 201 6 . Th e City started inve sting in COs in City Council June 7, 2016 Page 3 of 4 September 2008 and bond investments in August 2009 . Revenues from th is category is slightly lower in co mparison to the same period last year. The City Investment Policy limits the negotiable certificates of deposits investment to only 30 % from the total investment portfolio and negotiable certificates of deposits typically provide a higher return that Federal agencies . • 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 . This category actually has an increase of $27 ,445 after adjustments of the two payments the City received in Fiscal Year 2014- 15 of $197,290 for the FY 2011-12 windstorm expenditure reimbursement from the State and $109 ,681 for the settlement agreement of the Avalon Coalition from the County of Los Angeles . Special Revenues are received from various funds such as Traffic Safety , Gas Tax , Propositio n 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 submitted for reimbursement of expenditures . The Special Revenues are $926,000 lower this quarter in comparison to the same quarter of last fiscal year primarily due to the City has not yet received all accrued grant funding from the Congestion Mitigation and Air Quality Grant , the Bicycle Transp ortation Account, the Safe Route To School Grant for the City Capital Improvement Projects, and also due to th e tim ing of special revenue receipts . 3. Expe nd iture Summary Report This report is a summary for the period of July 1, 2015 to March 31 , 2016 (Attachment "C"). By th e end of th e third quarter the percent expended is generally 75 %. 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 du e to the County's time frame in invoicing the City . The Building Program expenditure is high er due to the Contract Services Accounts for Los Angeles County Industrial Waste and Transtech Engineering . These expenditures will be offsets by revenues received from the County and bu i lding permit fees . Proposed adjustments were recommended in the Third Quarter Budget Adjustments . 4 . Capital Improvement Financial Report This report lists the third quarter expe nditures which reflects costs for e ight projects as indicated i n Attachment "D": Live Oak Pak and T emple City Park Master Plan Development; Live Oak Park Walking and Jogging Path ; Update Traffic Signals on Temple City Boulevard between El Camino Real Avenue and Ell is Lane , and Other Safety Improvements ; Upgrade Traffic Signals Citywide and Install Other Safety Imp rovements ; Citywide Upgrade Traffic Street Signage ; Repaving of Streets per City Council June 7, 2016 Page 4 of 4 Reassessment Pavement Management Plan ; Redesign and Construction of Las Tunas Drive; and Demolition and Site Preparation for 5800 Temple City Boulevard Parking Lot Project. CONCLUSION : The City Council is requested to review , receive and file the Third Quarter City Treasurer's Report , Revenue and Expend iture Summary Reports and the Capital Improvement Financial Report . FISCAL IMPACT: This 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 Temple City Revenue Summary Report C. City of Temple City Expenditure Summary Report D. City of Temple City Capital Improvement Financial Status Report CITYOFTEMPLECITY ATTACHMENT A TREASURER'S REPORT March 31 , 2016 Cash in Bank Wells Fargo Bank -Checking -Payroll -Merchant Card US Bank -Checking Camelli a Fund East West Bank -Monthly Market Account Wells Fargo Bank-Checking Petty Cash LA IF Effective Quarter to Date Yield 3/31/16 0.4 70% MorganStanley SmithBarney Certificates of Deposit Weighted Average to Date Yield 3/31/16 1.396 % Government Securities Weighted Average to Date Yield 3/3 1/16 1.208% Corpora te Fixed Income Weig hted Average to Date Yield 3/31/16 1 .672% Money Market Mutual Securities Government Securities Weighted Average to Date Yield 3/31/16 1.995% Money Market US Bank Ce rt ificates of Deposit Weighted Average to Date Yield 3/31/16 1.048% Government Securities Weighted Average to Date Yie ld 3/31/16 1.167% Los Angeles County Poo l Investme nt F und As of 3/31/16 0 .930% OPES Investment As of 2/29/16 TOTAL PRIOR MONTH STATUS Total $ $ COST VALUE MARKET VALUE 664,500 .15 13.461 .58 23,812 .84 36,150.84 160,000.00 7,864 .73 2,100 .00 985,066 .32 2 ,538 ,000 .00 1 ,2 00 ,000 .00 1,5 11 ,500.00 8 ,912.52 5 ,662 ,454.72 7 ,500.15 3,073 ,000.00 1,219.450.56 6,500 ,000 .00 1 '1 00,000.00 24,713 ,774.41 24,926 ,084.31 $ $ 664 ,500 .15 13,461 .58 23 ,812.84 36 ,150.84 160,000.00 7,864 .73 2 ,100.00 984 ,265 .36 2,558 ,173.17 1,201 ,994.16 1,517,355 .35 8 ,912.52 5 ,510 ,245 .00 7 ,500 .15 3 ,073,000 .00 1,232,025 .31 6,57 4 , 703.4 7 1,178,564 .77 24,754,629 .40 24 ,964 ,356 .94 All investments are pla ced in accordance with the City of Temple City's Investment Po licy. The ab ove summary provides sufficient cash flow liq uidity to meet the next six month's estimated expenditu r es . Th i s report is in accordance with Government Code Secti on 53646. TRACEY L . HAUSE CITY TREASURER Taxes Licenses and Permits In tergovernmenta l Charges for Services Fines, Forfeitures , & Pena lit ies U se of Money and Property Miscellaneous Tota l General Fund Revenue Total Speci al Revenue Funds TOTAL REVENUE CITY OF T-EMPLE CliY REVENUE SUMMARY REPORT-ALL FUNDS QUARTER ENDlNG.-MARCH 31 2016 2014-15 2014-15 2015-16 BUDGET YEAR TO DATE BUDGET JUL-MAR ---------------------------------------------------------·----- 5 ,310 ,000 2 ,901,423 5 ,530 ,540 1,295 ,000 1 ,332 ,158 1,530,000 3,350 ,000 1,852 ,282 3,917 ,000 1,534 ,000 1,099 ,552 1,499 ,100 400,000 281 ,361 500 ,000 200 ,000 96 ,956 200 ,000 571 ,300 526 ,600 365 ,000 -----------------·--------·-----·------------------------·--·--- 12,660 ,300 8 ,090 ,332 13 ,541 ,640 6 ,614 ,310 3,579,545 5 ,906 ,550 ---------·--·--·------·-----------------·-----.................................. ____ 19 ,274 ,610 11 ,669 ,877 19,448 ,190 =========== ============ =========== 2015-16 YEAR TO DATE JUL-MAR ................................................ 2 ,880 ,711 1,301 ,729 1 ,981 ,999 1,140 ,197 220 ,356 92 ,97 6 247,074 ----·------------------ 7 ,865 ,042 2 ,653 ,166 -----·----------------- 10,518 ,208 ============ : : ~ : PERCENT RECEIVED ........................................... 52 % 85% 51 % 76 % 44 % 46% 68 % -----------------·-- 58 % 45% --------------·----- 54% =========== )> -1 -1 )> 0 I ~ m z -1 OJ CITY OF TEMPLE CITY EXPENDITURE SUMMARY REPORT-ALL FUNDS QUARTER ENDING -MARCH 31,2016 2014-15 2014-15 2015 -16 BUDGET YEAR TO DATE BUDGET JUL-MAR --------------·--·--------------·--·--·------·--------------------- MANAGEMENT SERVICES City Council 170,610 119,033 174,545 City Manager 952 ,930 527 ,981 856 ,910 City Attorney 620,000 355,511 492,000 Elections 82 ,870 24,403 0 City Clerk 327 ,590 192,760 304 ,610 -------·--------------------------------·-------------·--------- 2 ,154,000 1,219 ,688 1,828 ,065 ADMINISTRATIVE SERVICES DEPARTMENT Support Services 149,185 131 ,978 132,810 Insurance/Benefits 841 ,100 622,452 952 ,665 Accounting 506 ,800 370 ,852 543 ,510 Purchasing 130,79 0 91 ,135 282 ,900 ------------------------------------------------ 1 ,627 ,875 1 ,216,417 1,911 ,885 COMMUNITY DEVEL OPM E NT DEPART M ENT Planning 1,670,410 496,432 1,886 ,915 Building 739 ,385 535,853 767 ,860 Housing 323 ,390 116,750 195,990 ---------------·---------------------·--------------------·-- 2,733,185 1,149,035 2,850,765 COMMUNITY SERVICES DEPARTMENT Recreation/Human Services 1 ,181 ,020 760,766 1 ,156,260 Public Transportation 7 59 ,555 468,855 851 ,885 Parks-Maintenance/Facilities 917,100 632,9 12 989 ,1135 Trees & Parkways 715 ,325 385 ,123 675,410 ------·----------------·------------------------------------ 3,573,000 2 ,247 ,656 3,672,990 > 2015-16 YEAR TO DATE JUL-MAR -----------------·--- 107,567 556,933 285,167 0 179,114 -------·--·------------- 1,128,781 95 ,618 668,659 376 ,548 133,525 ----·-----·------ 1,274,350 550 ,510 627 ,703 137,251 ---------------------- 1,315 ,464 827 ,072 469,594 677,842 370 ,192 ----------------- 2 ,344,700 . PERCENT EXPENDED -------------------- 62% 65% 58% 0% 59% -----------------·-- 62 % 72% 70% 69% 47% ---------------- 67 % 29% 82% 70% -------------·------ 46 % 72 % 55 % 69% 55 % ------------------- 64% )> -I -I )> 0 I ~ m z -I 0 CIT Y O F TSM i?LE CITY EXPENDlTURE SUMMARY REPORT -ALL FUNDS . . . . QUART ER ENDING ::':MARQH 3 1 2016 .. 2014-15 2014-15 2015-1 6 2015-16 PERCENT BUDGET YEAR TO DATE BUDG ET YEAR TO DATE EXPENDED JU L-MA R JUL-MAR ........................................................ ................................................................... ........................................................... ----------------------.......................................................... COMMUNITY DEVELOPMENT DEPARTME NT PUBLIC SAFETY DIVISION Law E nforcement 3 ,885 ,915 2,535 ,830 4 ,017,060 2 ,627,423 65% Traffic Engineering 37,455 30 ,009 40,000 28 ,242 71% Animal Control 199,330 139,190 201 ,790 135,171 67% Emergency Services 127,735 65,817 108,775 66 ,762 61 % Community Preservation 397 ,290 255,948 358 ,825 164,410 46 % Parking Administration 400,72 5 241 ,278 390 ,545 224 ,375 57 % ----------------------------------------------------------·-------------------------------------------- 5,048,450 3 ,268 ,072 5,116,995 3,246,383 63% PUBLIC WORKS DIVISION Admi nistration & Engineering 466 ,290 412 ,375 498,125 300,466 60% Street Cleaning 200 ,000 105,465 202,490 119,277 59 % Traffic Signal Maintenance 136,500 51 ,145 136,500 87 ,526 64% Traffic Signs & Strip Maint. 113,165 63,042 173,925 62,454 36 % Street Ma intenance 68,750 36 ,814 61 '150 37 ,370 61 % Sidewalk Maintenance 25 ,000 3,629 63,340 48,433 76 % Solid Waste Management 21 ,990 5,594 19,490 4 ,980 26 % Street Lighting 398,410 210 ,623 375,425 231,430 62 % -·--·---------------------------·-----------------------------------------------------------·------------ 1,430,105 888 ,687 1 ,530,445 891 ,936 58% MAINTENANCE DIVISION General Government Bu ildings 287 ,515 200,029 239 ,300 175,745 73 % Parking Facilities 197,470 127,379 152,855 82 ,553 54 % Graffiti Abatement 40,400 35 ,517 50 ,000 30 ,128 60% ------------·---------·-----------------------------------------------·------------------------------------ 525 ,385 362 ,925 442,155 288,426 65% SUB TOTAL PROGRAM EXPENDITURES 17 ,092 ,000 10,352,480 17 ,353 ,300 10,490,040 60 % :·: SUB TOTAL PROGRAM EXPENDITURES CAPI TAL IM PR OVEMEN T FUND EQUI PM EN T REPLACEMENT TRUST FUND TOTAL EXPENDITURES CDBG LOAN REPAYMENT GRAND TOTAL CITY OF tEMPLE CITY EXPENDITU~E SUMMARY REPORT -ALL FUNDS QUARTER J:NDING -MARCH 31 2016 2014-15 BUDGET 17 ,092 ,000 5 ,834 ,675 215,460 0 23 ,142,135 40 ,350 23 ,182,485 =========== 2014-15 YEAR TO DATE JUL-MAR 10 ,352,480 1,553 ,160 113,178 2 ,732 12,021 ,550 46 ,806 12,068,356 ============ 2015-16 BUDGET 17 ,353 ,300 3,411 ,165 143,900 0 20,908 ,365 =========== 27 ,000 20,935,365 =========== 2015-16 YEAR TO DATE JUL-MAR 10,490,040 811 ,522 51 ,989 2 ,625 11 ,356,176 ============ 38 ,285 11 ,394,461 ============ PERCENT EXPENDED 60% 24% 36% 54% =========== 142% 54% =========== CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P15-02 Publ ic Arts at Live Oak Park P15 -04 LOP and TC Parks Master Plan Development P16-01 Live Oak Park W alk ing and Jogging Path P16-02 Veteran's Monument Recap of Fu nd ing S o urces CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15-MAR 16 Fund ing Source Budget (D) Publ ic Arts Fund 25 ,000 (D ) General Fund 2 ,100 (D) D EFG 240 ,000 Park Acquisition 80 000 320 ,000 (D ) Park Acqu isition 130,000 Park Acqu isit ion 212 ,100 Pub lic Arts Fund 25 ,000 5th District 2015 E xce ss t-unds Grant 240,000 T OTAL CIP -PARKS MAINTENANCE I FACILITIES 477,100 (E) = Essential (N) = Necessary (M ) = Mandated (R) = Rout ine PARKS-MAINTENANCE/FACILITI ES ACCT. NO. 60 -980-59-4810 Year To Date E xpend iture Balance 25 ,000 1 ,050 1,050 11 ,699 308 ,301 130,000 ):: -- f ~ 12,749 464,351 =::;; [! 2 - (D) = Discretionary Cl CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14 -05 Street Sweeping Signage Recap of Fundi ng Sourc es TOTAL CIP-PARKING ADMINISTRATION (E) = Essentia l (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15-MAR 16 Fund ing 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 Expend iture Balance 12 ,180 -12,180 (D) = D iscre tionary CAPITAL IMPROVEMENT PROGRAM PROJECT DE TAIL 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 JUL 15-MAR 16 Funding Source Budget (N) Highway Safety 970 ,300 Improvement Prog ram General Fund 98 100 1,068,400 P15-07 Upgrade Traffic Signals Citywide and Install (N ) Highway Safety 282,900 Other Safety Improvements Improvement Program General F und 21 600 304 ,500 Re c ap of Funding Sources General Fund 119,700 Highway Safety 1 ,253 ,200 Improvement Program TOTAL CIP -TRAFFIC SIGNAL MAINTENANCE 1 ,372 ,900 (E) = Essent ial (N) = Necessary (M) = Mandated (R) = Routine TRAFFIC SIGNAL MAINTENANCE ACCT. NO. 60 -980-73-4810 Year To Date Expenditure Balance 23 ,302 1,045 ,098 11 ,389 293 ,111 34,691 1,338 ,209 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-04 Citywide U pgrade Traffic Street Signage P13 -02 Repaving of Streets per Re-assessment Pavem e nt Management Plan P13-04 Redesign and Construction of Las Tunas Drive P13 -12 Bicycle Master Plan Implementation - Installation of 12.6 M iles of Class II & I l l Bicycle Lanes P14-07 Catch Basin Inserts Recap of Funding Sourc es TOTAL CIP -STREET CONSTRUCTION (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15 -MAR 16 Funding Source Budget (M) General F und 200 ,000 (E) Gas Tax 614 ,000 (N) Prop C 84 ,000 (N) Bicycle T ransportation A cct 479 ,985 (E) General F und 66 ,500 General Fund 266 ,500 Prop C 84 ,000 Gas Tax 614 ,000 Bicycie Transportation A cct 479,985 1,444,485 (M) = Mandated (R) = Routine STREET CONSTRUCTION ACCT. NO. 60 -980-75-48 10 Year To Date Expenditure Balance 5,259 194 ,741 663 ,383 (49,383) 83 ,518 482 479 ,985 66 ,500 752,160 692,325 (D) = D iscretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-11 Rebuild the Roof for the City Yard Buildings Recap o f Funding Sources TOTAL CIP -GEN GOV'T SLOGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15-MAR 16 Fund i ng Source Budget (D) General Fund 14,500 General Fund 14,500 14,500 (M) = Mandated (R) = Routine GENERAL GOVERNMENT BUILDINGS ACCT . NO . 60-980-81-4810 Year To Date Expenditure Balance 14,500 -14,500 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14 -13 Demolition and Site Preparation for 5800 Temple City Blvd. Pa rking Lot Re c ap of Fu nding So urces TO TAL CIP -GEN GOV'T BLDGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 15-MAR 16 Fund ing Source Budget (D) General Fund 90 ,000 General Fund 90 ,000 90 ,000 (M) = Mandated (R) = Routine PARKING FACILITIES ACCT. NO . 60-980 -82-4810 Year To Date Expend iture Ba lance 11 ,922 78,078 11 ,922 78 ,078 (D) = Discretionary