HomeMy WebLinkAboutCOW 2017-11-13 Item 5C - Powerpoint Shown at Meeting - 2017 3rd Quarter Financial Results (Updated)2017 3rd Quarter
Financial Report
City of Tukwila
November 13, 2017
3rd Quarter Financial Highlights
Departmental budgets (in total) within budget.
$20
25
5
November 13, 2017 2017 3rd Quarter Financial Report
45
110ns
2
General Fund Revenue
■ Sales tax below budget by $1.14 million
■ Not experiencing growth as budgeted, 1st and 2nd
quarter revenue consistent with previous year
■ 3rd quarter saw decline in revenue compared to 2016
■ Year over year declines by NAICS category
■ Manufacturing down $55 thousand, or 26%
■ Wholesale down $300 thousand, or 27%
■ General Retail down $98 thousand, or 1%
■ Services down $137 thousand, or 3%
■ Other NAICS categories either flat or slightly up
November 13, 2017
2017 3rd Quarter Financial Report
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$14.0
0
$13.5
$13.0
$12.5
$12.0
$11.5
$11.0
General Fund Revenue
Jan - Sept Sales Tax Revenue
$13.8
$13.8
$13.6
2014
November 13, 2017
2015
2017 3rd Quarter Financial Report
2016
2017
4
cr)
$
$6.6 6.5
$6.5
$6.3
$6.0
Vt.S.41.14,60,1000,4, Nag
$6.0
$7.0
General Fund Revenue
Jan - Sept Retail and Services Categories
$5.5
$5.0
$4.5
$4.0
$3.5
$3.0
2014
November 13, 2017
2015
RetailServices
2017 3rd Quarter Financial Report
2016
2017
5
$2.0
c
0
$1.5
$1.0
$0.5
$0.0
November 13, 2017
General Fund Revenue
Jan - Sept Wholesale and Construction Categories
$1.5
$0.9
$0.6
2014 2015
MM.. Wholesale ,Construction
2017 3rd Quarter Financial Report
2016
2017
6
General Fund Revenue
• Gambling tax exceeding budget by $241 thousand.
• RGRL fee below budget by $147 thousand. Major
employer shifted employees out of city.
• Security (Court) below budget by $52 thousand,
changes in law require ability to pay to be considered
before imposing cost.
• Transportation below budget by $58 thousand, less
damage to City property occurring.
November 13, 2017
2017 3rd Quarter Financial Report
Overall, Expenditures Within Budget
■ Excluding Dept. 20, expenditures are at 71% of
allocated budget.
■ All departments except for Fire, Technology &
Innovation Services, and Parks Maintenance are below
allocated budget.
■ Fire Department only department expected to require
budget amendment.
■ Department 20 transfers to capital project funds only as
needed.
November 13, 2017
2017 3rd Quarter Financial Report
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Highlights of Other Funds
■ 42nd Ave S Phase III, 53rd Ave S street projects: $8.8
million bond proceeds received in July.
■ REET revenue exceeding budget: $873 thousand each
in land acquisition and arterial street funds.
■ City Facilities (fund 306): preliminary siting for Public
Works shops.
■ Andover Park E water/sewer main replacement project:
significant work in both water and sewer funds.
■ Through September, self-insured healthcare for
employee expenses at 67% of budget.
November 13, 2017
2017 3rd Quarter Financial Report
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Looking Forward
• Continued regular monitoring of Fire department.
• Transfers to capital projects funds if needed.
• Continued enhancement of reporting to departments
and Council.
• Long-range financial planning tool coming soon.
November 13, 2017
2017 3rd Quarter Financial Report
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Q&A
The city of opportunity,
the community of choice.
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November 13, 2017 2017 3rd Quarter Financial Report
Preliminary Projected Year -End
Revenue $61,981,082
Expenditure 61 770,909
Change in Fund Balance $160,1
Represents a conservative projection.
November 13, 2017
2017 3rd Quarter Financial Report
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