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CITY OF FARMINGTON FINANCIAL REPORT FY2014 For the 12 Months Ending June 30, 2014 ---PAGE BREAK--- FUND DIFFERENCE YTD YTD YTD YTD BUDGET ACTUAL DIFFERENCE % BUDGET ACTUAL DIFFERENCE % REV/EXP REVENUE REVENUE FAV/(UNFAV) DIFF. EXPENDITURE EXPENDITURE FAV/(UNFAV) DIFF. ACTUAL* GENERAL FUND 57,971,530 $ 60,921,763 $ 2,950,233 $ 5.09% 57,874,556 $ 56,032,056 $ 1,842,500 $ 3.18% $4,889,707 Cash Transfer to 408 2,851,214 2,851,214 - $ ($2,851,214) SPECIAL REVENUE 18,368,452 $ 17,404,702 $ (963,750) $ (5.25%) 24,774,266 $ 18,983,192 $ 5,791,074 $ 23.38% ($1,578,490) CAPITAL PROJECTS 7,129,083 $ 5,339,026 $ (1,790,057) $ (25.11%) 11,820,544 $ 7,652,658 $ 4,167,886 $ 35.26% ($2,313,632) 2012 BOND PROJECTS 3,059,000 $ 3,041,350 $ (17,650) $ (0.58%) 8,597,052 $ 4,179,267 $ 4,417,785 $ 51.39% ($1,137,918) ELECTRIC FUND 101,370,867 $ 101,887,172 $ 516,305 $ 0.51% 109,761,945 $ 101,684,474 $ 8,077,471 $ 7.36% $202,698 WATER FUND 16,525,091 $ 14,790,312 $ (1,734,779) $ (10.50%) 20,339,580 $ 14,012,891 $ 6,326,689 $ 31.11% $777,421 WASTEWATER FUND 7,973,210 $ 8,125,866 $ 152,656 $ 1.91% 12,760,174 $ 8,070,780 $ 4,689,394 $ 36.75% $55,086 SANITATION FUND 5,741,000 $ 5,550,377 $ (190,623) $ (3.32%) 5,643,210 $ 5,326,093 $ 317,117 $ 5.62% $224,284 GOLF FUND 282,492 $ - $ (282,492) $ 309,922 $ - $ 309,922 $ $0 DEBT SERVICE FUND 1,635,894 $ 1,636,879 $ 985 $ 0.06% 1,632,294 $ 1,632,293 $ 2 $ 0.00% $4,586 HEALTH FUND 9,725,088 $ 9,843,778 $ 118,690 $ 1.22% 9,975,928 $ 9,192,925 $ 783,003 $ 7.85% $650,852 TOTAL 229,781,707 $ 228,541,223 $ (1,240,484) $ (0.54%) 266,340,685 $ 229,617,843 $ 36,722,842 $ 13.79% (1,076,620) $ Special Revenue Funds Include: Capital Projects Funds Include: 201 - GRT Streets 217 - Museum Gifts/Grants 240 - State Police Protection 401 - Comm. Develop. Grants 202 - GRT Parks/Public Works 221 - Red Apple Transit 246 - Region ll Narcotics 408 - General Gov't Capital Projects 211 - Parks Development Fees 222 - General Gov't Grant 248 - COPS 409 - Airport Grants 213 - Library Gifts and Grants 223 - CDBG 249 - Law Enforcement Block Grant 411 - Metro Redevelopment Authority 214 - Parks Gifts/Grants 230 - Lodgers tax 250 - State Fire Grant 251 - Penalty Assessment For the 12 Months Ending June 30, 2014 YTD BUDGET TO ACTUAL COMPARISON REVENUE EXPENDITURES 1 ---PAGE BREAK--- 2 GENERAL FUND ELECTRIC FUND ACTUAL REVENUE $60,921,763 $101,887,172 BUDGET REVENUE $57,971,530 $101,370,867 DIFFERENCE $2,950,233 $516,305 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 $110 Millions GENERAL FUND & ELECTRIC FUND REVENUES ACTUAL / BUDGET 12 Months Ending June 30, 2014 ---PAGE BREAK--- 3 SPECIAL REVENUE CAPITAL PROJECTS WATER FUND WASTEWATER FUND SANITATION FUND DEBT SERVICE FUND HEALTH FUND ACTUAL REVENUE $17,404,702 $8,380,375 $14,790,312 $8,125,866 $5,550,377 $1,636,879 $9,843,778 BUDGET REVENUE $18,368,452 $10,188,083 $16,525,091 $7,973,210 $5,741,000 $1,635,894 $9,725,088 DIFFERENCE $(963,750) $(1,807,708) $(1,734,779) $152,656 $(190,623) $985 $118,690 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 Millions REVENUES ACTUAL / BUDGET 12 Months Ending June 30, 2014 Special Revenue Funds 201 - GRT Street 202 - GRT Parks 211 - Parks Development Fee 213 - Library Gifts/Grants 214 - Parks Gifts/Grants Capital Project Funds 401 - Community Development 402 - GRT 2012 Bond Projects 408 - General Gov't Capital Projects 409 - Airport Grants 411 - Metro Redelopment 217 - Museum Gifts/Grants 221 - Red Apple Transit 222 - General Gov't Grant 223 - CDBG 230 - Lodgers Tax 240 - State Police Protection 246 - Region II Narcotics 248 - COPS 249 - Block Grant 250 - State Fire Grant 251 - Penalty Assessment ---PAGE BREAK--- 4 GENERAL FUND ELECTRIC FUND ACTUAL EXPENDITURE $56,032,056 $101,684,474 BUDGET EXPENDITURE $57,874,556 $109,761,945 DIFFERENCE $1,842,500 $8,077,471 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 $110 $120 Millions GENERAL FUND & ELECTRIC FUND EXPENDITURES ACTUAL / BUDGET 12 Months Ending June 30, 2014 ---PAGE BREAK--- 5 SPECIAL REVENUE CAPITAL PROJECTS WATER FUND WASTEWATER FUND SANITATION FUND DEBT SERVICE FUND HEALTH FUND ACTUAL EXPENDITURE $18,983,192 $11,831,925 $14,012,891 $8,070,780 $5,326,093 $1,632,293 $9,192,925 BUDGET EXPENDITURE $24,774,266 $20,417,596 $20,339,580 $12,760,174 $5,643,210 $1,632,294 $9,975,928 DIFFERENCE $5,791,074 $8,585,671 $6,326,689 $4,689,394 $317,117 $2 $783,003 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 $24 $26 Millions EXPENDITURES ACTUAL / BUDGET 12 Months Ending June 30, 2014 Special Revenue Funds 201 - GRT Street 202 - GRT Parks 211 - Parks Development Fee 213 - Library Gifts/Grants 214 - Parks Gifts/Grants 217 - Museum Gifts/ Grants 221 - Red Apple Transit 222 - General Gov't Grant 223 - CDBG 230 - Lodgers Tax 240 - State Police Protection 246 - Region II Narcotics 248 - COPS 249 - Block Grant 250 - State Fire Grant 251 - Penalty Assessment Capital Project Funds 401 - Community Development 402 - GRT 2012 Bond Projects 408 - General Gov't Capital Projects 409 - Airport Grants 411 - Metro Redevelopment Authority ---PAGE BREAK--- 6 $55.9 $46.1 $47.9 $51.6 $49.2 $50.1 $40 $42 $44 $46 $48 $50 $52 $54 $56 $58 $60 June FY09 June FY10 June FY11 June FY12 June FY13 June FY14 Millions YTD GRT REVENUE - ALL FUNDS SIX YEAR COMPARISON 12 Months Ending June 30, 2014 ---PAGE BREAK--- 7 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 RETAIL TRADE SERVICES MINING WHOLESALE TRADE CONSTRUCTION OTHER June FY10 $19,811,847 $13,331,497 $2,793,464 $2,357,896 $2,633,989 $5,158,029 June FY11 $19,960,829 $14,518,301 $2,958,993 $2,344,582 $2,468,434 $5,670,385 June FY12 $20,289,636 $16,944,390 $2,699,169 $2,548,582 $2,446,075 $6,706,954 June FY13 $19,746,487 $16,210,340 $2,102,087 $2,367,813 $2,842,262 $5,964,586 June FY14 $19,943,603 $16,557,220 $2,411,462 $2,319,818 $2,319,641 $6,574,734 YTD GRT BY CATEGORY 12 Months Ending June 30, 2014 Services include: Professional & Technical, Management, Administration & Support, Educational, Health Care, Arts & Entertainment, and Food Service. Other include: Agriculture, Transportation & Warehouse, Manufacturing, Utilities, Information & Cultural, Finance & Insurance, and Real Estate,& Rental. $ In Millions FY12 includes a one‐time GRT amount of $900K received in January 2012. ---PAGE BREAK--- 8 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 2010 $4,108,697 $4,073,268 $4,029,879 $3,845,989 $3,770,045 $3,682,117 $3,532,271 $4,371,276 $3,413,973 $3,658,254 $3,867,982 $3,732,971 2011 $3,642,844 $4,197,182 $3,727,666 $3,822,837 $3,895,947 $3,906,243 $3,832,399 $4,972,385 $3,690,956 $4,056,631 $4,233,066 $3,943,369 2012 $4,090,460 $4,459,774 $4,051,966 $4,362,056 $4,154,912 $4,139,917 $5,152,019 $4,871,049 $3,933,084 $4,157,970 $4,415,298 $3,846,302 2013 $4,132,333 $4,301,141 $3,992,760 $3,985,593 $3,938,139 $4,011,074 $4,050,910 $5,028,122 $3,704,857 $3,801,501 $4,187,256 $4,099,889 2014 $4,087,301 $4,131,765 $4,026,354 $4,437,803 $4,127,866 $4,155,976 $4,206,616 $4,625,927 $3,736,100 $4,068,985 $4,296,881 $4,224,906 $3.0 $3.5 $4.0 $4.5 $5.0 $5.5 Millions GRT REVENUE BY MONTH FISCAL YEARS 2010 - 2014 Est. one‐time GRT amount of $900K received in January 2012 ---PAGE BREAK--- 9 $2,000,000 $22,000,000 $42,000,000 $62,000,000 FISCAL YEAR 25 YR GRT-HISTORY $49.2 $51.6 $50.1 $42.8 $46.1 $55.9 ---PAGE BREAK--- 10 $0 $6 $12 $18 $24 $30 $36 $42 $48 $54 $60 FY10 FY11 FY12 FY13 FY14 REVENUE $48.7 $53.8 $58.8 $57.3 $60.9 EXPENDITURES $47.5 $47.9 $54.2 $54.6 $56.0 DIFFERENCE $1.2 $5.8 $4.6 $2.6 $4.9 GENERAL FUND REVENUE/EXPENDITURES 12 Months Ending June 30, 2014 In Millions) FY14 Expenses do not include $2.85 million cash transfer to 408 fund. Includes $3.5M transfer from 408. FY14 surplus is $1.4M after deducting $3.5M transfer from 408 ---PAGE BREAK--- 11 June FY10 June FY11 June FY12 June FY13 June FY14 GENERAL FUND $9,128,460 $15,042,509 $16,361,891 $14,546,820 $16,378,260 SPECIAL REVENUE $9,404,507 $13,423,291 $13,481,220 $11,078,249 $9,660,076 GEN CAP PROJ #408 $100,756 $109,241 $3,594,658 $5,612,389 $3,380,788 $9.1 $15.0 $16.4 $14.5 $16.4 $9.4 $13.4 $13.5 $11.1 $9.7 $101K $109K $3.6 $5.6 $3.4 $0 $4 $8 $12 $16 $20 Millions CASH BALANCE, FY14 FIVE YEAR COMPARISON Special Revenue Funds 201 - GRT Streets 202 - GRT Parks 211 - Parks Development Fee 213 - Library Gifts/Grants 214 - Parks Gifts/Grants 217 - Museum Gifts/Grants 221- Red Apple Transit 222 - General Gov't Grant 223 - CDBG 230 - Lodgers Tax 240 - State Police Protection 246 - Region II Narcotics 248 - COPS 249 - Block Grant 250 - State Fire Grant 251 - Penalty Assessment $ 6,709,331 $ 1,176,234 $ 366,301 $ 317,845 $ 682,630 $ 163,457 170,303) 106,610) $ 45,282 $ 345,455 $ 136 $ 60,148 $ 37 $ 25,049 $ 30,896 $ 14,188 Note: The cash balance reflects transfers from the General Fund to Capital Project 408: FY12 - $3.6mm; FY13 - $4.1mm; FY14 - $2.8mm ---PAGE BREAK--- 12 $97.2 $94.5 $97.6 $100.9 $100.3 $4.1 $0.8 $1.1 $1.8 $1.6 $71.2 $78.8 $86.7 $83.3 $82.7 $15.5 $10.6 $9.2 $18.2 $19.0 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 $110 FY10 FY11 FY12 FY13 FY14 ELECTRIC FUND REVENUE/EXPENDITURES 12 Months Ending June 30, 2014 CAPITAL OPERATING CONS CONTRIB & GRANTS REVENUE BUDGET BASIS In Millions) ---PAGE BREAK--- 13 June FY10 June FY11 June FY12 June FY13 June FY14 ELECTRIC FUND $56,120,799 $63,695,438 $69,690,851 $58,984,615 $61,633,413 $56.1 $63.7 $69.7 $59.0 $61.6 $50 $55 $60 $65 $70 $75 Millions ELECTRIC CASH BALANCE, FY14 (Cash less Restricted Cash / Includes Reserved Cash) FIVE YEAR COMPARISON ---PAGE BREAK--- 14 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Electric Actual Expense $16.6 $23.5 $22.2 $15.7 $10.6 $9.2 $18.2 $19.0 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 Millions Fiscal Year ELECTRIC CONSTRUCTION CAPITAL INVESTMENT HISTORY JUNE 30 FOR ALL YEARS FY2013 $2.6M Vista Substation $1.5M Mesa Substation $1.5M Purchase of mobile Substation $1.2M Bluffview Plant‐GE Duct for deicing $723K UPS system improvement $504K Vehicles $395K Fiber Optic ‐ Turley to Navajo Dam $383K T & D ‐ MOC remodel $311K SCADA replacement $227K Pine River fiber optic line FY2014 $3.8M T & D ‐ MOC remodel $1.4M Vehicle purchases $1.0M System Upgrades ‐ Various locations $1.0M Bluffview Power Plant‐Anti icing $975K Vista Substation $901K Animas Substation $650K Lee Acres transformer replacement $559K Fiberoptic ‐ Lakeview to Vista Sub $506K Navajo Unit #1 Turbine Runner Repair $447K Arc Flash Mitigation project $346K Animas transformer replacement $337K System Control improvements Signigicant Electric Projects ---PAGE BREAK--- 15 $15.9 $13.2 $14.3 $13.7 $14.8 $2.2 $2.2 $0.2 $2.0 $8.3 $8.6 $9.3 $8.7 $8.0 $9.1 $5.7 $3.4 $3.3 $6.0 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 FY10 FY11 FY12 FY13 FY14 WATER FUND REVENUE/EXPENDITURES 12 Months Ending June 30, 2014 CAPITAL OPERATING CONS CONTRIB & GRANTS REVENUE BUDGET BASIS In Millions) ---PAGE BREAK--- 16 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Water Actual Expense $1.7 $3.1 $7.4 $9.1 $5.7 $3.4 $3.3 $6.0 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 Millions Fiscal Year WATER CONSTRUCTION CAPITAL INVESTMENT HISTORY JUNE 30 FOR ALL YEARS FY2009 $333K Farmington Reach‐BOR Grant $3.0M Water main & man hole upgrade FY2010 $681K Animas Waterline‐ARRA grant $2.9M Farmington Reach‐BOR Grant $464K OMI‐capital improvements $523K Water storage tank rehab $2.4M Water tank construction $337K Wildflower water main FY2013 $366K OMI‐capital improvements $140K W.Main‐watermain replacement $138K Hydroplnt S. Butler‐main rehab $119K OMI‐capital improvements FY2014 $2.8M Water Meter Replacement $637K Water main replacement ‐ Municipal Dr. $406K Water main replacement ‐ 20th Street $390K OMI ‐ Water distribution system $162K Water main replacement ‐ Knollcrest Dr. $224K Water main replacement ‐ N. Court Ave $114K Water main replacement ‐ 23rd Street Significant Water Projects ---PAGE BREAK--- 17 $7.5 $7.4 $7.9 $8.2 $8.0 $0.4 $0.1 $5.0 $5.4 $5.6 $5.5 $5.6 $1.6 $1.8 $0.6 $1.2 $2.5 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 FY10 FY11 FY12 FY13 FY14 WASTEWATER FUND REVENUE/EXPENDITURES 12 Months Ending June 30, 2014 CAPITAL OPERATING CONS CONTRIBUTION & GRANTS REVENUE BUDGET BASIS In Millions) ---PAGE BREAK--- 18 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Wastewater Actual Expense $0.7 $0.7 $4.0 $1.6 $1.8 $0.6 $1.2 $2.5 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 Millions Fiscal Year WASTEWATER CONSTRUCTION CAPITAL INVESTMENT HISTORY JUNE 30 FOR ALL YEARS FY2009 $1.5M Lift Station #8 & #13 rehab $789K US64 sewer extension to McGee Park FY2012 $73K OMI‐capital improvements FY2013 $462K Sewer & Lift station improvements ‐ Pinon Hills Blvd $219K OMI ‐ WTP#1, 15 Lift Stations, collection lines $190K 15" Sewer replacement ‐ Municipal Dr $73K 8" sewer replacement ‐ Municipal Dr $61K La Plata Hwy sewer ‐ Cunningham to Pinon Hills Dr. FY2014 $860K Lift station improvement‐Pinon Hills $696K Lift station #5 rehab $307K OMI‐capital improvements $256K Sewer replacement ‐ Bisti/Murray Dr $87K Lift station #3 rehab $75K Waste water Treatment Plant ‐ Phase 3 $55K Behrend sewer replacement Significant Wastewater Projects ---PAGE BREAK--- 19 June FY10 June FY11 June FY12 June FY13 June FY14 WATER $3,006,072 $4,796,660 $6,600,268 $8,498,496 $9,201,579 WASTEWATER $4,758,184 $5,092,564 $6,404,511 $7,577,556 $7,498,128 $3.0 $4.8 $6.6 $8.5 $9.2 $4.8 $5.1 $6.4 $7.6 $7.5 $0 $2 $4 $6 $8 $10 $12 Millions WATER & WASTEWATER CASH BALANCE, FY14 (Cash less Restricted Cash) FIVE YEAR COMPARISON ---PAGE BREAK--- 20 June FY10 June FY11 June FY12 June FY13 June FY14 HEALTH INSURANCE $67,937 $(213,282) $685,343 $1,337,645 $67,937 $(213,282) $685,343 $1,337,645 ($300,000) ($100,000) $100,000 $300,000 $500,000 $700,000 $900,000 $1,100,000 $1,300,000 HEALTH INSURANCE FUND CASH BALANCE, FY14 FIVE YEAR COMPARISON