HomeMy WebLinkAboutReg 2015-07-06 Item 6 - Powerpoint Presentation Shown at Meeting - 2014 Annual Financial Report2014 Annual
Financial Report
City of Tukwila
July 6, 2015
Financial Stability Characterized 2014
• The General Fund realized a small surplus bringing the year-
end fund balance to $10 million.
• The governmental fund balances included in Attachment A of
the Financial Planning Model exceeded projections.
Attachment A of the Financial Planning Model
Governmental Fund Balances in $ Millions
2013 Actual
$21.4
2014 Estimate $20.6
2014 Actual $21.2
• Reserve Requirements of $11M were exceeded by the
combined General Fund & Contingency Fund balances of
$16M.
2
July 6, 2015 2014 Annual Financial Report
M
Sales Tax and Gambling Tax Exceeded
Expectations
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
Budget Variance - Ongoing Revenues
$825,405
$600,589
op
lip
lb
Sales and use tax Gambling & excise
July 6, 2015 2014 Annual Financial Report
Ongoing Revenue:
Exceeded budget by $1.7M or 3.2%
Year Over Year increase of $2.9M
$278,955
All other ongoing
revenue
3
Ongoing General Fund Revenues total $55M
• Taxes = $40M or 74%
of total
July 6, 2015
Intergovernmental,
$5M, 9%
Licenses /Permits,
$4M, 7%
er ongoing
venues,
M. 10%
2014 Annual Financial Report
4
•
Departmental Expenditures of $48.7M
By Expenditure Type
INTERGOVERNMENTAL,
$2M, 5%
PROFESSIONAL
SERVICES, $9M, 18%
SUPPLIES AND
CAPITAL, $2M, 3%
July 6, 2015
SALARI ES,
$27M, 56%
BENEFITS,
$9M, 18%
2014 Annual Financial Report
By Department
OTHER
$6M, 12 %_/
POLICE
$16M, 32%
f
FIRE
$11M, 23%
PUBLIC
WORKS,
$6M, 12%
COMMUNITY DEV
$3M, 6%
MAYOR,
RECREATION & $3M, 7%
PARKS
$4M, 8%
5
Departmental Budget Savings
of $1.4M or 3%
> All departmental expenditures came in under budget.
> Departments experiencing very positive results
include:
Street Maintenance
Public Works
Community Development
Finance
City Attorney
July 6, 2015 2014 Annual Financial Report
90%
93%
93%
94%
78%
$296K
$224K
$201K
$149K
$145K
6
Police
,,, $17
o
$15
$15.8 $15.8
$14.3 $14.7
$14.0 Fi e
$9
$13
$11.4 $11.5 . i
$11 $1o.6 $10.7
$9.9
2011 2012 2013 2014 2014 2011 2012 2013 2014 2014
Bdgt Bdgt
$7 Public Works
$6
$6.2 $6.3
$5.7 $5.9 $5.8
0 $5
0
$4
Recreation DCD
$3.6 $3.8$3.8
$3.5 $3.3
$3.2 $3.0
$3 $2.9 $2.8
$2.6
$2 1111'
2011 2012 2013 2014 2014 2011 2012 2013 2014 2014 2011 2012 2013 2014 2014
Bdgt Bdgt Bdgt
July 6, 2015
2014 Annual Financial Report
Departmental
Expenditures
Year Over and Actual
to Budget
All Other
$5.4 $5.6
Mayor
$6.4
$6.2
_$5.9�
$3.3 $3.3
$2.7
$2.5
2011 2012 2013 2014 2014 2011 2012 2013 2014 2014
Bdgt Bdgt
Ongoing Revenues less Ongoing Expenditures =
Amount Available
for capital projects, reserves, other
Ongoing
Revenues
Ongoing Expenditures
Dept Debt Total
Svc
Available
for Capital
Projects,
Reserves, other
2011
2012
2013
2014
July 6, 2015
$ 50.1
$ 51.0
$ 52.1
$ 55.0
$ 43.6
$ 44.7
$ 47.3
$ 48.7
$ 2.6
$ 2.8
$ 2.9
$ 3.2
2014 Annual Financial Report
$46.2
$ 47.5
$ 50.2
$ 51.9
$ 3.9
$ 3.5
$ 1.9
$ 3.1
8
Highlights of Other Governmental Funds
• Purchase of two motels on Tukwila International Boulevard for
$315M
• Issuance of $3.85M in 20 -year bonds, $2.25M in line of credit
• Interurban Avenue South construction
• Transit Center wrap -up
• East Marginal Way overlay completion
• Safe routes to school construction in- progress
9
July 6, 2015 2014 Annual Financial Report
$7.0
$6.0
$5.0
$4.0
$3.0
$2.0
$1.0
$0.0
• 2013 Actuals
Enterprise Funds
Fund Balances
Year over Year and Budget to Actual
in Millions
$5.8
Water
1
0.7
$2.1
Sewer
Golf Course
Surface Water
$6.5
$3.6
$0.6
$2.2
® 2014 Budget
$5.1
$1.6
$0.6
$1.0
® 2014 Actuals
$5.8
$5.3
$0.7
$2.1
10
July 6, 2015 2014 Annual Financial Report
$5.0
$4.0
$3.0
$2.0
$1.0
$0.0
IN 2013 Actuals
n 2014 Budget
C, 2014 Actuals
Internal Service Funds
Fund Balances -
Year Over Year and Budget to Actual
in Millions
$4.7
Equipment
Rental,Replacement
$4.2
$4.4
$4.7
$2.5
Insurance Employees
July 6, 2015 2014 Annual Financial Report
$4.5
$2.6
$2.5
r $0.2
Insurance LEOFF 1
Retirees
$0.9
$0.8
$0.2
11
Looking Forward
➢ Economic forecast is strong through
2016.
• Retails sales tax up 16% year over
year and 9% budget to actual
through Q1 2015
➢ Focus on financial fundamentals
• Reserves
• Structural balance
➢ Opportunities under consideration
• Regional Fire Authority
• Facilities Plan
12
July 6, 2015 2014 Annual Financial Report
Q &A
The city of opportunity,
the community of choice.
13
July 6, 2015 2014 Annual Financial Report