Full Text
1 CITY OF FARMINGTON MEMORANDUM TO: Mayor, Council, and City Manager FROM: Andy Mason, Administrative Services Director DATE: February 26, 2015 SUBJECT: January FY15 Financial Report Attached is the Financial Report for the seven months ending January 31, 2015, which includes the Financial Summary Report, the Cash Report, Debt Service Summary and the Investment Portfolio. Please contact me if you have any questions. FINANCIAL REPORT NOTES: General Fund 101 Actual revenues are higher than budgeted revenues this month by 0.9% or $48K. With 58.3% of the fiscal year complete, 106.2% of the July – January FY15 revenue budget has been collected. YTD revenues that are higher than the YTD budget are police state grant reimbursements by $207K, Civic Center rentals by $99K, and YTD actual GRT revenues are $2.1M or 9.4% greater than the YTD budget. Conversely revenues less than YTD budget are police federal grant reimbursements by $88K and Piñon Hills season passes by $87K. For the month of January, actual expenditures are higher than budget by $21K or 0.3%. With 58.3% of the year complete, 99.3% of the July – January FY15 expenditure budget has been spent. YTD expenditures under budget include salaries and wages by $417K (net of YTD allowance) or 1.6% and community service by $124K. Conversely, YTD expenditures that exceed YTD budgets include public official liability by $275K and public official legal expense by $194K. $37.384 $35.217 $34.782 $35.020 $2.602 $0.197 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 YTD Actual YTD Budget YTD REVENUE to EXPENDITURES and BUDGET COMPARISON (In Millions) Revenues Expenditures Difference Revenues 6.2% Favorable Expenses 0.7% Favorable ---PAGE BREAK--- Memorandum 2 The general fund cash total of $13.7 million reflects the cash available as of January 31, 2015 including the October transfer of $3.2M to the 408 Fund. The total cash balance represents 21.4% of the FY15 general fund expenditure budget of $64.0 million (including cash reserve transfer). GRT Street Fund 201- The ending cash balance for January is $8.6 million, a decrease of $187K from December balance of $8.8 million. The majority of expenditures include vehicles of $527K and transfer expenses for 2013 flood of $176K. Revenues received were $660K in GRT. Street paving and materials activity is seasonal and due to winter weather, work has ceased until Spring. GRT 2012 Series Bonds Fund 402- The January 31 ending cash balance totals $2.2 million, a decrease of $267K from the December balance of $2.5 million. The majority of expenditures were $271K for Fire Station General Governmental Fund 408- The January 31 ending cash balance totals $4.2 million, a decrease of $269K from December balance of $4.5M. The majority of expenditures include $44K for vehicles, “transfer out” of $217K to the General Fund, and $56K to the MRA Fund. $16.6 $15.2 $15.7 $13.4 $13.5 $14.5 $13.7 $6.9 $7.5 $7.5 $8.0 $8.4 $8.8 $8.6 $1.1 $1.0 $0.9 $1.0 $1.108 $1.2 $1.3 $4.3 $4.1 $3.9 $3.4 $3.4 $2.5 $2.2 $3.1 $2.8 $2.5 $5.4 $5.1 $4.5 $4.2 $1.6 $2.0 $1.2 $1.3 $1.3 $0.7 $1.7 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 $9.0 $10.0 $11.0 $12.0 $13.0 $14.0 $15.0 $16.0 $17.0 JUL ‐ 14 AUG ‐ 14 SEP ‐ 14 OCT ‐ 14 NOV‐ 14 DEC ‐ 14 JAN ‐ 15 $ MILLIONS CASH BALANCE‐VARIOUS GOVERNMENTAL FUNDS 101‐General Fund 201‐GRT Streets 402‐GRT Bond Projects 408‐Capital Projects 202‐GRT P.R.C.A 701‐Health ---PAGE BREAK--- Memorandum 3 Health Insurance Fund 701- FY15 cash balances are on track with a beginning cash balance of $1.3M from FY14. At the end of January 2015, the Health Fund cash balance is $1.7M, an increase of $986K from December balance of $697K. Health insurance claims for the month of January totaled $355K and pharmacy charges of $79K. Stop loss payments of $618K and health insurance premiums of $910K were received in January, which was a three pay period month. For the fund as a whole and with 58.3% of the year complete, 133.7% of the July – January FY15 revenue budget has been collected while 137.0% of the July – January FY15 expenditure budget has been spent. Electric Fund 601- In order to provide the reader a better understanding of the available cash balance, the Cash Balance Report has been modified to reflect not only the restricted cash amounts but also the reserved cash amounts in compliance with the Council approved Electric Cash Reserve Policy. The Electric Fund unrestricted/unreserved balance as of January 31, 2015 is $49.6 million. Unrestricted/unreserved cash represents 41.1% of the FY15 electric enterprise expenditure budget of $120.6 million. YTD expenses of $7.4M for capital projects are 65.1% of the YTD budget of $11.4 million. For the fund as a whole, with 58.3% of the fiscal year complete, 100.7% of the July – January FY15 revenue budget has been collected while 85.2% of the expenditure budget has been spent. Because of timing differences, the change in Cash Balances will not match the excess or deficit reported on the Financial Summary Report. $48.4 $48.4 $49.6 $54.7 $52.2 $50.8 $49.6 $14.8 $14.8 $14.8 $14.8 $14.8 $14.8 $14.8 $2.7 $2.7 $2.7 $2.7 $2.8 $2.9 $2.9 ‐ 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 55.0 60.0 65.0 70.0 75.0 Jul‐14 Aug‐14 Sep‐14 Oct‐14 Nov‐14 Dec‐14 Jan‐15 $ Millions ELECTRIC UTILITY CASH BALANCE Restricted Funds Reserved Funds‐Estimated Unrestricted/Unreserved Cash Balance ---PAGE BREAK--- Memorandum 4 DEBT SERVICE Principal Balance Annual Payment FUND 602-Water Principal Interest/Admin Fee NMFA Loan-Animas Waterline* 909,684 48,869 9,585 NMFA Water Meter Loan 4,285,310 183,940 89,385 Total $ 5,194,994 $ 232,809 $ 98,970 FUND 603-Wastewater NMED Loan - 14,000,000 521,020 420,000 NMED Loan 8,817,724 668,413 284,584 Total $ 22,817,724 $ 1,189,433 $ 704,584 UTILITY TOTAL NMFA Loan-Animas Waterline* 909,684 48,869 9,585 NMFA Water Meter Loan 4,285,310 183,940 89,385 NMED Loan - 14,000,000 521,020 420,000 NMED Loan 8,817,724 668,413 284,584 Total $ 28,012,718 $ 1,422,242 $ 803,554 Sales Tax Bonds 2005 $ 1,960,000 $ 445,000 $ 96,200 Sales Tax Bonds 2012 8,555,000 735,000 304,488 NMFA Fire Pumper Loan 342,550 44,760 10,445 Total $ 10,857,550 $ 1,224,760 $ 411,133 CITY TOTAL NMFA Loan-Animas Waterline* 909,684 48,869 9,585 NMFA Water Meter Loan 4,285,310 183,940 89,385 NMED Loan - 14,000,000 521,020 420,000 NMED Loan 8,817,724 668,413 284,584 Sales Tax Bonds 2005 1,960,000 445,000 96,200 Sales Tax Bonds 2012 8,555,000 735,000 304,488 NMFA Fire Pumper Loan 342,550 44,760 10,445 Total $ 38,870,268 $ 2,647,002 $ 1,214,687 Interest Rate Payment Due Date Maturity NMFA Loan-Animas Waterline* 1.00% TBD 2032 .25% Admin Fee NMFA Water Meter Loan 2.00% 5/1 2034 NMED Loan 3.00% 7/1 2026 NMED Loan - 3.00% 1-Aug 2038 Sales Tax Bonds 2005 3.50 - 4.00% 12/15 & 6/15 2019 Sales Tax Bonds 2012 1.5%-5.5% 12/1 & 6/1 2024 NMFA Fire Pumper Loan 2.78% 6/1 2022 * NM Finance Authority Loan includes Interest and Administrative Fee. INVESTMENT PORTFOLIO State law restricts the types of investments the City of Farmington may purchase. The City’s current investment portfolio consists of CD’s, money market accounts, governmental agency securities, and deposits in the State Treasurer’s Local Government Investment Pool. If you would like to see any additional information, please let me know. Copies: Department Head Group, Controller, Budget Officer ---PAGE BREAK--- $ VARIANCE % FY2015 FY2015 $ VARIANCE % JANUARY JANUARY FAVORABLE OF YTD YTD FAVORABLE OF ACTUAL BUDGET (UNFAVORABLE) BUDGET ACTUAL BUDGET (UNFAVORABLE) BUDGET GENERAL FUND - 101 GROSS RECEIPTS TAXES 3,260,560 $ 3,213,096 $ 1. 47,464 $ 101.48% 24,432,659 $ 22,388,392 $ 2,044,267 $ 109.13% OTHER REVENUE 1,403,351 1,384,736 18,615 101.34% 6,806,731 6,639,682 167,049 102.52% REVENUE TRANSFERS 865,452 883,116 (17,664) 98.00% 6,144,567 6,188,480 (43,913) 99.29% GROSS REVENUE 5,529,363 5,480,948 48,415 100.88% 37,383,957 35,216,554 2,167,403 106.15% EXPENDITURES 6,395,311 6,374,069 2. (21,242) 100.33% 34,782,344 35,019,929 237,585 99.32% EXCESS (DEFICIT) (865,947) $ (893,121) $ 27,174 $ 2,601,613 $ 196,625 $ 2,404,988 $ NOT INCLUDED ABOVE: CASH TRANSFER OUT TO FUND 408 - $ - $ - $ 3,234,827 $ 3,234,827 $ - $ OTHER FUNDS Special Revenue Funds GROSS REVENUE 1,610,999 $ 1,637,249 $ (26,250) $ 98.40% 11,122,831 $ 11,831,998 $ (709,167) $ 94.01% TOTAL EXPENDITURES 1,659,136 2,036,061 376,925 81.49% 8,635,061 13,828,267 5,193,206 62.44% EXCESS (DEFICIT) (48,136) $ (398,812) $ 350,676 $ 2,487,770 $ (1,996,269) $ 4,484,039 $ Capital Project Funds GROSS REVENUE 102,992 $ 738,035 $ (635,043) $ 13.95% 4,834,759 $ 7,691,320 $ (2,856,561) $ 62.86% TOTAL EXPENDITURES 891,088 1,367,606 476,518 65.16% 8,265,710 10,351,745 2,086,035 79.85% EXCESS (DEFICIT) (788,096) $ (629,571) $ (158,525) $ (3,430,951) $ (2,660,425) $ (770,526) $ Debt Service Fund GROSS REVENUE 132,345 $ 132,014 $ 331 $ 100.25% 980,053 $ 979,303 $ 750 $ 100.08% TOTAL EXPENDITURES 0 0 0 255,549 255,549 0 EXCESS (DEFICIT) 132,345 $ 132,014 $ 331 $ 724,505 $ 723,754 $ 751 $ Enterprise Funds Electric Utility GROSS REVENUE 9,781,009 $ 9,724,350 $ 56,659 $ 100.58% 62,525,553 $ 62,047,077 $ 478,476 $ 100.77% TOTAL EXPENDITURES 10,479,531 11,187,734 708,203 93.67% 59,230,670 69,512,150 10,281,480 85.21% EXCESS (DEFICIT) (698,523) $ (1,463,384) $ 764,861 $ 3,294,883 $ (7,465,073) $ 10,759,956 $ CITY OF FARMINGTON FINANCIAL SUMMARY REPORT January 31, 2015 5 ---PAGE BREAK--- $ VARIANCE % FY2015 FY2015 $ VARIANCE % JANUARY JANUARY FAVORABLE OF YTD YTD FAVORABLE OF ACTUAL BUDGET (UNFAVORABLE) BUDGET ACTUAL BUDGET (UNFAVORABLE) BUDGET CITY OF FARMINGTON FINANCIAL SUMMARY REPORT January 31, 2015 Water GROSS REVENUE 959,690 $ 1,152,412 $ (192,722) $ 83.28% 12,206,267 $ 9,866,884 $ 2,339,383 $ 123.71% TOTAL EXPENDITURES 1,013,135 1,717,141 704,006 59.00% 9,114,160 11,501,387 2,387,227 79.24% EXCESS (DEFICIT) (53,446) $ (564,729) $ 511,284 $ 3,092,107 $ (1,634,503) $ 4,726,610 $ Wastewater GROSS REVENUE 701,103 $ 686,087 $ 15,016 $ 102.19% 4,755,927 $ 4,800,762 $ (44,835) $ 99.07% TOTAL EXPENDITURES 776,177 1,002,710 226,533 77.41% 3,778,679 6,732,143 2,953,464 56.13% EXCESS (DEFICIT) (75,073) $ (316,623) $ 241,550 $ 977,249 $ (1,931,381) $ 2,908,630 $ Sanitation GROSS REVENUE 481,234 $ 479,072 $ 2,162 $ 100.45% 3,330,083 $ 3,353,504 $ (23,421) $ 99.30% TOTAL EXPENDITURES 461,914 483,303 21,389 95.57% 3,206,826 3,369,282 162,456 95.18% EXCESS (DEFICIT) 19,320 $ (4,231) $ 23,551 $ 123,257 $ (15,778) $ 139,035 $ Health Insurance Fund GROSS REVENUE 1,552,051 $ 952,648 $ 599,403 $ 162.92% 6,469,948 $ 4,837,830 $ 1,632,118 $ 133.74% TOTAL EXPENDITURES 706,123 653,133 (52,990) 108.11% 6,264,874 4,571,931 (1,692,943) 137.03% EXCESS (DEFICIT) 845,928 $ 299,515 $ 546,413 $ 205,074 $ 265,899 $ (60,825) $ TOTAL OTHER FUNDS EXCESS (DEFICIT) (665,682) $ (2,945,821) $ 7,473,894 $ (14,713,776) $ SUMMARY (ALL FUNDS) GROSS REVENUE 20,850,786 $ 20,982,815 $ (132,029) $ 99.37% 143,609,380 $ 140,625,232 $ 2,984,148 $ 102.12% TOTAL EXPENDITURES 22,382,415 24,821,757 2,439,342 90.17% 136,768,700 158,377,210 21,608,510 86.36% EXCESS (DEFICIT) (1,531,629) $ (3,838,942) $ 2,307,313 $ 6,840,680 $ (17,751,978) $ 24,592,658 $ Footnotes: 1 Gross Receipts Tax revenue has been adjusted in the budget to approximate the receipts based upon a calculated historical percentage for each month. 2 General Fund budgeted revenues and expenditures in this report have been adjusted to reflect anticipated timing of actual revenues and expenditures 6 ---PAGE BREAK--- FY 2015 FY 2015 FY 2015 FUND REVENUE YTD % EXPENDITURE YTD % YTD SURPLUS/ # FUND NAME BUDGET REVENUES COLLECTED BUDGET EXPENDITURES USED (DEFICIT) CASH BALANCE 101 General Fund (Net of Cash Reserve Transfer) 60,188,428 $ 37,383,957 $ 62.1% 60,780,314 $ 34,782,344 $ 57.2% 2,601,613 $ 13,707,863 $ 101 General Fund-Cash Reserve Transfer to 408 3,234,827 3,234,827 (3,234,827) 201 GRT Streets 10,952,841 5,908,837 53.9% 14,483,239 4,140,680 28.6% 1,768,156 8,632,482 202 GRT Parks & Public Works 2,619,583 1,657,659 63.3% 3,051,460 1,436,216 47.1% 221,443 1,343,803 211 Park Development Fees 7,000 4,647 66.4% 48,000 - 0.0% 4,647 370,947 213 Library Gifts & Grants 138,200 10,154 7.3% 155,500 101,997 65.6% (91,843) 224,086 214 Parks/Rec Gifts & Grants 70,463 128,776 182.8% 604,933 144,388 23.9% (15,612) 665,866 217 Museum 141,000 121,023 85.8% 145,000 155,160 107.0% (34,137) 129,322 221 Red Apple Transit 1,572,730 737,962 46.9% 1,402,401 507,798 36.2% 230,163 45,644 222 General Gov't Grant 750,425 450,048 60.0% 643,815 424,050 65.9% 25,999 (155,767) 223 CDBG 556,952 141,932 25.5% 581,714 118,717 20.4% 23,215 68,497 230 Lodgers Tax 1,356,000 860,373 63.4% 1,367,278 794,855 58.1% 65,518 387,799 231 Lodgers Tax Promotional 200,000 - 0.0% - - - - - 240 State Police Protection Fund 101,800 101,386 99.6% 101,973 17,286 17.0% 84,100 84,273 246 Region ll 499,800 223,718 44.8% 493,970 275,311 55.7% (51,593) (5,556) 248 COPS Program 379,050 66,616 17.6% 379,050 - 0.0% 66,616 66,616 249 Law Enforcement Block Grant 46,667 46,901 100.5% 71,715 - 0.0% 46,901 71,949 250 State Fire Fund 838,133 575,728 68.7% 942,066 431,830 45.8% 143,898 254,171 251 Penalty Assessment Fund 155,000 87,072 56.2% 155,000 86,772 56.0% 299 14,488 401 Comm. Develop. Grant Projects 6,105,447 244,285 4.0% 7,043,653 1,111,434 15.8% (867,149) 29,316 402 GRT 2012 Bond Projects 17,500 14,262 81.5% 4,422,760 2,199,978 49.7% (2,185,716) 2,239,597 408 General Gov't Capital Projects 3,254,827 3,251,873 99.9% 4,918,839 2,481,556 50.5% 770,317 4,194,540 409 Airport Grants 1,500,756 1,099,431 73.3% 1,555,565 1,552,210 99.8% (452,779) (368,345) 411 Metro Redevelopment Authority 503,000 224,562 44.6% 500,000 65,957 13.2% 158,605 661,576 415 Convention Center Capital Projects - 346 - 1,100,000 854,574 77.7% (854,229) 245,771 501 Sales Tax Bond Retirement 1,639,393 980,053 59.8% 1,635,893 255,549 15.6% 724,505 922,309 601 Electric Enterprise 102,835,530 62,525,553 60.8% 120,557,852 59,230,670 49.1% 3,294,883 49,606,211 602 Water Enterprise 15,629,040 12,206,267 78.1% 20,331,996 9,114,160 44.8% 3,092,107 12,692,165 603 Wastewater Enterprise 8,233,390 4,755,927 57.8% 12,381,365 3,778,679 30.5% 977,249 8,071,116 604 Sanitation Enterprise 5,748,925 3,330,083 57.9% 5,777,315 3,206,826 55.5% 123,257 2,527,849 701 Health Insurance 8,472,854 6,469,948 76.4% 7,837,653 6,264,874 79.9% 205,074 1,683,032 TOTALS 234,514,734 $ 143,609,380 $ 61.2% 276,705,146 $ 136,768,700 $ 49.4% 6,840,680 $ 108,411,621 $ 58.33% of the year complete Budget Basis CITY OF FARMINGTON REVENUE AND EXPENDITURE REPORT * For the seven months ending January 31, 2015 7 ---PAGE BREAK--- 8 July August September October November December January Actual $4.99 $5.13 $5.13 $6.06 $4.94 $5.61 $5.53 Budget $4.79 $5.01 $4.83 $4.95 $4.92 $5.23 $5.48 Diff. $0.20 $0.12 $0.30 $1.10 $0.02 $0.37 $0.05 $(1.00) $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $ Millions General Fund Revenue Actual-to-Budget by Month FY2015 ---PAGE BREAK--- 9 July August September October November December January Actual $2.77 $6.48 $4.60 $5.05 $5.00 $4.50 $6.40 Budget $2.72 $6.39 $4.91 $4.96 $5.15 $4.53 $6.37 Diff. $(0.06) $(0.09) $0.31 $(0.09) $0.15 $0.03 $(0.02) $(1.00) $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $ Millions General Fund Expenditures Actual-to-Budget by Month FY2015 ---PAGE BREAK--- 10 July August September October November December January Revenue $4.99 $5.13 $5.13 $6.06 $4.94 $5.61 $5.53 Expenditures $2.77 $6.48 $4.60 $5.05 $5.00 $4.50 $6.40 Diff. $2.22 $(1.35) $0.53 $1.01 $(0.06) $1.11 $(0.87) $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $ Millions General Fund Actual Revenue-to-Expenditure Comparison FY 2015 ---PAGE BREAK--- 11 Act to Bgt Act to Bgt Actual YTD Rev vs. Exp Actual $37.38 $34.78 $37.38 Budget $35.22 $35.02 $34.78 Diff. $2.17 $0.24 $2.60 % Fav./(Unfav) 6.2% 0.7% $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $ Millions General Fund Revenue & Expenditures FY2015 YTD Seven Months Ending January 31, 2015 Act Rev Bgt Rev Act Exp Bgt Exp Act Rev Act Exp ---PAGE BREAK--- 12 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN General Fund Revenue Comparison Past 4 Years FY2012 FY2013 FY2014 FY2015 Jan. Millions FY2015 $5.53 FY2014 $5.45 FY2013 $5.34 FY2012 $5.99 Est. one‐time GRT amount of $690K received in January 2012 Est. one‐time GRT amount of $977K received in October 2014 ---PAGE BREAK--- 13 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN General Fund Expenditures Comparison Past 4 Years FY2012 FY2013 FY2014 FY2015 Jan. Millions FY2015 $6.40 FY2014 $5.82 FY2013 $4.24 ---PAGE BREAK--- 14 $30,757,176 $34,889,814 $32,432,712 $34,995,823 $37,383,957 $4,000,000 $8,000,000 $12,000,000 $16,000,000 $20,000,000 $24,000,000 $28,000,000 $32,000,000 $36,000,000 $40,000,000 FY2011 FY2012 FY2013 FY2014 FY2015 General Fund Revenues Comparison of YTD Revenue Seven Months Ending January 31, 2015 $25,835,672 $29,509,948 $30,417,148 $31,884,408 $34,782,345 $4,000,000 $7,000,000 $10,000,000 $13,000,000 $16,000,000 $19,000,000 $22,000,000 $25,000,000 $28,000,000 $31,000,000 $34,000,000 $37,000,000 $40,000,000 FY2011 FY2012 FY2013 FY2014 FY2015 General Fund Expenditures Comparison of YTD Expenditures Seven Months Ending January 31, 2015 ---PAGE BREAK--- CASH CASH CASH FY15 RESERVES FUND BALANCE BALANCE BALANCE EXPENDITURE AS A % OF # FUND NAME 1/31/2015 12/31/2014 11/30/2014 BUDGET 2015 BUDGET 101 GENERAL FUND* 13,707,863 $ 14,485,767 $ 13,534,009 $ 64,015,141 $ 21.41% 201 GRT-STREETS 8,632,482 8,819,173 8,391,637 14,483,239 59.60% 202 GRT-PARKS/PUBLIC WORKS 1,343,803 1,216,278 1,107,672 3,051,460 44.04% 211 PARK DEVELOPMENT FEES 370,947 370,504 370,040 48,000 772.81% 213 LIBRARY GIFTS AND GRANTS 224,086 224,295 229,200 155,500 144.11% 214 PARKS GIFTS AND GRANTS 665,866 641,338 662,848 604,933 110.07% 217 MUSEUM GIFTS AND GRANTS 129,322 150,575 143,036 145,000 89.19% 221 RED APPLE TRANSIT GRANT 45,644 (107,588) (60,377) 1,402,401 3.25% 222 GENERAL GOV'T GRANT FUND (155,767) (129,447) (35,798) 643,815 (24.19%) 223 CDBG 68,497 92,326 96,688 581,714 11.78% 230 LODGERS TAX 387,799 366,899 346,052 1,367,278 28.36% 240 STATE POLICE PROTECTION 84,273 85,369 88,226 101,973 82.64% 246 REGION II NARCOTICS (Unrestricted) (5,556) 31,704 44,176 493,970 (1.12%) 248 COPS PROGRAM 66,616 49,962 33,308 379,050 17.57% 249 LAW ENFORCE BLOCK GRANT 71,949 71,901 94,575 71,715 100.33% 250 STATE FIRE 254,171 261,036 325,041 942,066 26.98% 251 PENALTY ASSESSMENT 14,488 12,472 25,278 155,000 9.35% 401 PUBLIC WORKS GRANTS 29,316 29,101 (56,218) 7,043,653 0.42% 402 GRT 2012 BOND PROJECTS 2,239,597 2,506,610 3,384,735 4,422,760 50.64% 408 GENERAL GOV'T CAPITAL PROJECTS 4,194,540 4,463,668 5,100,016 4,918,839 85.27% 409 AIRPORT GRANTS (368,345) (86,117) (87,544) 1,555,565 (23.68%) SUB-TOTAL 32,001,592 $ 33,555,828 $ 33,736,602 $ 106,583,072 $ 30.03% CITY OF FARMINGTON 1/31/2015 15 ---PAGE BREAK--- CASH CASH CASH FY15 RESERVES FUND BALANCE BALANCE BALANCE EXPENDITURE AS A % OF # FUND NAME 1/31/2015 12/31/2014 11/30/2014 BUDGET 2015 BUDGET 411 METRO REDEVLOPMENT AUTHORITY 661,576 605,574 551,760 500,000 415 CONVENTION CENTER CAPITAL PROJECTS 245,771 245,606 (25,000) 1,100,000 501 SALES TAX BOND RETIREMENT 922,309 789,964 705,762 1,635,893 56.38% 601 ELECTRIC ENTERPRISE 67,232,137 68,423,366 69,706,472 120,557,852 55.77% Restricted Cash (2,858,286) (2,887,705) (2,764,635) - Reserved Cash (14,767,639) (14,767,639) (14,767,639) - Unrestricted/Unreserved Cash 49,606,212 50,768,022 52,174,198 120,557,852 41.15% 602 WATER ENTERPRISE 13,116,480 13,441,216 12,591,351 20,331,996 64.51% Restricted Cash (424,315) (420,153) (412,639) - Unrestricted Cash 12,692,165 13,021,063 12,178,711 20,331,996 603 WASTEWATER ENTERPRISE 10,288,937 10,614,132 10,122,421 12,381,365 83.10% Restricted Cash (2,217,822) (2,138,405) (2,058,989) - Unrestricted Cash 8,071,116 8,475,727 8,063,433 12,381,365 604 SANITATION ENTERPRISE 2,527,849 2,559,240 2,485,458 5,777,315 43.75% 701 HEALTH INSURANCE 1,683,032 696,792 1,290,419 7,837,653 21.47% TOTALS (Unreserved/Unrestricted) 108,411,621 $ 110,717,815 $ 111,161,343 $ 276,705,146 $ 39.18% CITY OF FARMINGTON 1/31/2015 16 ---PAGE BREAK--- 17 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000 $110,000,000 $120,000,000 $130,000,000 $140,000,000 Pooled Cash Total Investments by Quarter January $125.3 MM ---PAGE BREAK--- COUNCIL INVESTMENT REPORT CITY OF FARMINGTON 1/31/2015 Purchase Date Fund Number Security Type Beginning Par Val/Shares Purchase Institution Coupon Rate Maturity Date POOLED CASH 09/12/11 100 Certificate of Deposit 3,000,000.00 CITIZENS BANK 1.060 02/10/15 04/30/12 100 Certificate of Deposit 1,000,000.00 VECTRA BANK 0.530 03/24/15 04/30/12 100 Certificate of Deposit 1,000,000.00 VECTRA BANK 0.540 04/21/15 04/30/12 100 Certificate of Deposit 1,000,000.00 VECTRA BANK 0.560 05/19/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.600 06/08/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.630 07/06/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.650 08/03/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.700 09/08/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.730 10/06/15 04/30/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.750 11/02/15 05/04/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.800 12/01/15 05/04/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.830 01/04/16 05/04/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.850 02/02/16 05/04/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.900 03/02/16 09/26/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.370 08/28/15 09/26/12 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.400 09/30/15 01/28/13 100 Certificate of Deposit 2,000,000.00 VECTRA BANK 0.450 01/28/16 03/19/13 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.400 03/19/16 04/19/13 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.450 04/20/16 05/20/13 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.510 05/18/16 07/15/13 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.650 07/15/15 01/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.560 06/16/16 01/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.610 07/15/16 01/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.660 08/14/16 01/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.710 09/15/16 02/24/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.620 10/18/16 02/24/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.680 11/18/16 02/24/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.720 12/16/16 02/24/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.780 01/17/17 04/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.500 11/19/15 04/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.650 05/05/16 04/28/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.850 11/03/16 04/11/14 100 Certificate of Deposit 2,000,000.00 WASHINGTON FEDERAL 0.748 04/08/16 04/11/14 100 Certificate of Deposit 2,000,000.00 WASHINGTON FEDERAL 0.499 10/21/15 04/11/14 100 Certificate of Deposit 2,000,000.00 WASHINGTON FEDERAL 0.400 04/09/15 04/30/14 100 Certificate of Deposit 2,000,000.00 VECTRA BANK 0.400 05/07/15 05/02/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.800 12/28/16 05/02/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.600 06/20/16 05/02/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 1.000 05/03/17 05/01/14 100 Certificate of Deposit 1,000,000.00 VECTRA BANK 0.400 06/25/15 08/19/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.700 10/03/16 08/19/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.870 06/15/17 08/19/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.930 07/14/17 08/19/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.970 09/15/17 08/07/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.700 02/16/17 08/07/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.750 06/16/17 08/07/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.800 04/13/17 09/30/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.950 03/15/17 09/30/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 1.050 08/15/17 10/23/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.850 02/03/17 10/23/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.750 01/03/17 18 ---PAGE BREAK--- Purchase Date Fund Number Security Type Beginning Par Val/Shares Purchase Institution Coupon Rate Maturity Date 11/12/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.800 03/01/17 11/12/14 100 Certificate of Deposit 1,000,000.00 CITIZENS BANK 0.830 04/26/17 11/12/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.870 05/17/17 11/12/14 100 Certificate of Deposit 2,000,000.00 CITIZENS BANK 0.900 06/28/17 Certificate of Deposit 77,000,000.00 01/22/13 100 Fed Home Loan Bank 2,000,000.00 WELLS FARGO 0.950 01/22/18 09/30/14 100 Fed Home Loan Bank 1,000,000.00 RBC 1.000 09/30/19 12/30/14 100 Fed Home Loan Bank 2,000,000.00 WELLS FARGO 1.800 12/30/19 FHLB Total 5,000,000.00 08/28/14 100 Fed Home Loan Mtg Corp 2,000,000.00 RBC 1.700 08/28/19 11/15/12 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.600 11/15/17 11/15/12 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.750 11/15/17 12/18/12 100 Fed National Mtg Assoc 1,000,000.00 RBC 1.000 12/18/17 12/26/12 100 Fed National Mtg Assoc 2,000,000.00 RBC 0.875 12/26/17 01/29/13 100 Fed National Mtg Assoc 2,000,000.00 RBC 0.800 01/29/18 02/28/13 100 Fed National Mtg Assoc 3,000,000.00 RBC 1.000 02/28/18 03/20/13 100 Fed National Mtg Assoc 2,000,000.00 RBC 1.000 03/20/18 04/30/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.600 04/30/18 05/15/13 100 Fed National Mtg Assoc 1,000,000.00 WELLS FARGO 0.750 05/15/18 05/08/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.625 05/08/18 05/22/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.750 05/22/18 06/13/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.800 06/13/18 06/19/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 0.850 06/19/18 06/27/13 100 Fed National Mtg Assoc 1,000,000.00 RBC 1.000 06/27/18 09/19/14 100 Fed National Mtg Assoc 1,000,000.00 RBC 1.100 09/15/17 FNMA Total 20,000,000.00 08/21/14 100 Freddie Mac 1,000,000.00 WELLS FARGO 1.700 08/21/19 09/18/14 100 Freddie Mac 2,000,000.00 WELLS FARGO 1.750 09/18/19 10/21/14 100 Freddie Mac 1,000,000.00 WELLS FARGO 1.750 09/26/19 11/26/14 100 Freddie Mac 2,000,000.00 WELLS FARGO 1.625 11/26/19 11/26/14 100 Freddie Mac 1,000,000.00 WELLS FARGO 1.750 11/26/19 01/30/15 100 Freddie Mac 2,000,000.00 WELLS FARGO 1.000 01/30/20 Freddie Mac Total 9,000,000.00 05/31/00 100 Money Market 250,901.98 CITIZENS BANK 0.050 06/30/15 09/30/11 100 Money Market 12,061,095.52 WELLS FARGO 0.220 06/30/15 04/11/14 100 Money Market 100.00 WASHINGTON FEDERAL 0.100 06/30/16 Money Market Total 12,312,097.50 12/31/05 100 NM State Pool 56,817.52 STATE OF NEW MEXICO 0.120 06/30/15 NEW MEXICO STATE POOL Total POOLED CASH Total 125,368,915.02 REGION II 10/27/14 246 Money Market 100,057.96 WELLS FARGO 0.220 06/30/16 19