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Home My Public Portal About09) 7F First Quarter Financial Status ReportsCity Council November 15, 2016 Page 3 of 4 been filled so an increase in parking fines will be realized in the second quarter; • Use of Money and Propertv 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 Morgan Stanley Smith Barney and other investment interests from COs and Government Securities are received monthly, semi-annually or when the account matures. This category is approximately $6,000 (33%) higher compared to the same period last year due to the timing of interest receipts; 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 is $5,600 (10%) higher than the same period of the last fiscal year. 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 Community Development Block Grant (CDBG). Some revenues are received on a monthly basis while others are received when reimbursement requests are submitted to the other governmental agencies (i.e., State of California or Los Angeles County). Actual revenues received during the first quarter are $50,000 lower due to timing of reimbursements. 3. Expenditure Summary Report This report (Attachment "C") is a summary of expenditures for the period of July 1, 2016 through September 30, 2016. By the end of the first quarter, the percent expended is generally 25%. However, some payments are made in July that pay for the entire annual expense of the program (i.e., memberships, insurance premiums and CaiPERS retirement contributions) which skew the percentage expended reported. Conversely, programs with lower percentages expended can be due to timing of the receipt of invoices by the City. (i.e., invoicing for contracts with Los Angeles County typically is a month or two behind). While some line items 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 unforeseeable or unanticipated events during the budget planning process. As a result, expenditures that are not budgeted but are justifiable can 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 the Administrative Services Director and the City Manager. For the expenditures that are not budgeted and cannot be accommodated within the program budget, (i.e., reallocation 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. City Council November 15, 2016 Page 4 of4 4. Capita/Improvement Financial Status Report The first quarter expenditures reflect costs for seven Citywide Capital Improvement Projects: Live Oak Park Walking and Jogging Path; Veteran's Monument; Update Traffic Signals on Temple City Boulevard; Update Traffic Signals for Citywide; Repaving of Streets per Re-assessment Pavement Management Plan; City Hall Space Planning Project; and Temple City Boulevard Parking Lot Project (Attachment "D"). CITY STRATEGIC GOALS: The City Council is requested to receive and file the First Quarter Financial Status Report at the close of the first quarter of FY 2016-17 and further City's Strategic Goal to promote Good Governance. FISCAL IMPACT: This item does not have an impact on the FY 2016-17 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 CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P16-01 Live Oak Park Walking and Jogging Path P16-02 Veteran's Monument P17-01 Renovation of Las Tunas Drive Lighting P17-02 Senior Master Plan Recap of Funding Sources CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL16-SEP16 Funding Source Budget (D) DEFG 140,000 Park Acquisition 10,000 150,000 (D) Park Acquisition 197,500 (D) Lighting/Lanscape 8,000 District (D) General Fund 20,000 General Fund 20,000 Park Acquisition 207,500 Lightiing/Landscape 8,000 District 5th District 2015 Excess 140,000 Funds Grant TOTAL CIP-PARKS MAINTENANCE I FACILITIES 375,500 (E) = Essential (N) = Necessary (M) = Mandated (R) = Routine PARKS -MAINTENANCE/FACILITIES ACCT. NO. 60-980-59-4810 Year To Date Expenditure Balance 111,365 38,635 4,628 192,872 8,000 20,000 ):: -- ):: c. :r 115,993 < 259,507 - IT -(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 JUL 16-SEP 16 Funding Source Budget (N) Highway Safety 934,560 Improvement Program Prop C 704,790 Surface Transportation 437,300 Program Local 2,076,650 P15-07 Upgrade Traffic Signals Citywide and Install (N) Highway Safety 282,900 Other Safety Improvements Improvement Program General Fund 9,930 292,830 Recap of Funding Sources General Fund 9,930 PropC 704,790 Highway Safety 1,217,460 Improvement Program Surface Transportation 437,300 Program Local TOTAL CIP-TRAFFIC SIGNAL MAINTENANCE 2,369,480 (E) = Essential (N) = Necessary (M) = Mandated (R) = Routine TRAFFIC SIGNAL MAINTENANCE ACCT. NO. 60-980-73-4810 Year To Date Expenditure Balance 9,708 2,066,942 1,386 291,444 11,094 2,358,386 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P12-04 Citywide Upgrade Traffic Street Signage P13-02 Repaving of Streets per Re-assessment Pavement Management Plan P14-07 Catch Basin Inserts P17-03 Las Tunas Drive Study Recap of Funding Sources TOTAL CIP-STREET CONSTRUCTION (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 16-SEP 16 Funding Source Budget (M) General Fund 200,000 (E) MeasureR 1,500,000 (E) General Fund 66,500 (D) General Fund 200,000 General Fund 466,500 MeasureR 1,500,000 1,966,500 (M) = Mandated (R) = Routine STREET CONSTRUCTION ACCT. NO. 60-980-75-4810 Year To Date Expenditure Balance 200,000 13,471 1,486,529 66,500 200,000 13,471 1,953,029 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P14-11 Rebuild the Roof for the City Yard Buildings P17-04 City Hall Space Planning Project Recap of Funding Sources TOTAL CIP-GEN GOV'T BLDGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL16-SEP16 Funding Source Budget (D) General Fund 14,500 (D) General Fund 50,000 General Fund 64,500 64,500 (M) = Mandated (R) = Routine GENERAL GOVERNMENT BUILDINGS ACCT. NO. 60-980-81-4810 Year To Date Expenditure Balance 14,500 7,855 42,145 7,855 56,645 (D) = Discretionary CAPITAL IMPROVEMENT PROGRAM PROJECT DETAIL No. Project P17-05 Temple City Blvd. Parking Lot Project Recap of Funding Sources TOTAL CIP-GEN GOV'T BLDGS (E) = Essential (N) = Necessary CITY OF TEMPLE CITY PRELIMINARY FINANCIAL STATUS REPORT JUL 16-SEP 16 Funding Source Budget (D) General Fund 550,000 General Fund 550,000 550,000 (M) = Mandated (R) = Routine PARKING FACILITIES ACCT. NO. 60-980-82-4810 Year To Date Expenditure Balance 381 549,619 381 549,619 (D) = Discretionary