HomeMy WebLinkAboutFS 2012-06-19 Item 2A - Update - Financial Planning Model / Capital Improvement ProgramCity of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Haggerton
Finance and Safety Committee
FROM: Peggy McCarthy, Finance Director
DATE: May 30, 2012
SUBJECT: Financial Planning Model Attachment A and Attachment B Review
ISSUE
Review the layout and content of Attachment A and Attachment B of the Financial Planning Model,
through 2012, for use in future financial planning.
BACKGROUND
Attachment A and Attachment B model the revenue and expenditures of most of the City's
governmental funds. The funds included in the model are:
Fund Fund Name
000
General Fund
103
Residential Streets
104
Arterial Streets
2
Debt Service
301
Land Acquisition Development
302
Facilities
303
General Government Improvements
304
Fire Improvements
The governmental funds excluded from the model are:
Fund I Fund Name
105 Contingency Fund
107 Fire Equipment Cumulative Reserve
109 Drug Seizure
These funds are excluded from the model because they were established for very specific purposes,
and as such, are not available for general government activities.
Revenues on Attachment A exclude transfers between the funds included in the model, exclude
grant revenue received for capital projects and exclude financing proceeds.
Capital expenditures on Attachment B include only those costs paid for from City operations. The
amounts exclude expenditures financed through grants and debt proceeds.
DISCUSSION
The model is used to identify trends, assess the general financial health of the City and to
determine amounts available for projects and other special purposes. Line 25 of Attachment A
shows the amount of funds available for projects or special purposes after net expenditure for
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INFORMATIONAL MEMO
Page 2
general government services and debt service. The model has been updated with actual amounts
for the years 2009, 2010 and 2011 with accounts consistently categorized in each of the years. In
the past, categorization of certain accounts has been inconsistent such as sales tax mitigation
revenue (originally reported with intergovernmental revenue for 2009, now reported with sales
tax revenue).
Changes to Attachment A
1. Line 25, Available after Payment of Debt Service, has been added to show the amount
available for project or Contingency reserve funding after general government services
and debt service has been paid.
2. The line item, Estimated unfunded PERS, has been removed. All reserves deemed
necessary, including this reserve, should be incorporated into the reserve policy and
should be funded through the Contingency fund.
Changes to Attachment B:
3. Transfers to enterprise funds, the Fire Equipment and Drug Seizure funds and additional
advancements on the Metropolitan Park District loan have been added to the model to
provide more precise and accurate results.
Change to Attachment A B:
4. An adjustment column has been added to the right of the 2012 budget column to reflect
changes in estimates and their effect on the model. Adjustments have been added to the
draft to:
a. bring revenues more in line with prior year actual results and anticipated results,
b. adjust the debt service to the underlying debt service schedules,
c. reduce capital expenditures for General Government Improvements to reflect
estimated funding from the King County Flood District for the removal of the
Green River temporary levies the Hesco fences and Super Sacks (75% of $1850
budgeted).
d. Total expenditures on Attachment B have not been adjusted, since in the past,
departments have underspent their budgets by 3 to 4%
Next Steps:
The model will be updated as more information becomes available through development of the
biennial budget. A preliminary Attachment C, containing Capital Improvement projects
contemplated for 2013 2018 has been developed and will be discussed with the Committee at a
later date.
FINANCIAL IMPACT None. For discussion only.
RECOMMENDATION
Information Only.
ATTACHMENTS
Draft Attachment A 2009, 2010, 2011 Actuals, 2012 Budget and 2012 Projections
Draft Attachment B 2011 Actuals and 2012 Budget
W TIN ProjectslCouncil Agenda Items12012\lnfoMemo_Financial Reporting Model, Attachment A B.docx
2
ATTACHMENT A
CITY OF TUKWILA
TOTAL REVENUES EXPENDITURES
Model Years 2013 2018, in 000's
2009, 2010, 2011 Actuals and 2012 Budget Analysis
36 (Accumulated Totals 21,918 20,921 16,397 1 17,092 83 17,175
2013 2018 Financial Planning Model VI l 0513012012
2009
2010
2011
2012
2012
REVENUES (see A-1)
Actual
Actual
Actual
Budget
ADJ
Projected
General Revenues
1
Sales Tax
16,656
16,390
17,331
16,248
16,248
2
Property Taxes
12,190
13,189
13,427-
13,868
13,868
3
Utility Taxes
4,359
4,064
4,052
4,840
4,840
4
RGRL
0
0
1,641
1,975
(300)
1,675
5
LID Assessment
0
6
Sale of property
947
0
7
1,300
(300)
1,000
7
Interfund Utility Taxes
1,813
1,498
1,372
1,524
(100)
1,424
8
Gambling Taxes
2,457
1,981
1,472
2,502
(600)
1,902
9
Contract Agreement SCL
1,967
2,071
2,110
2,050
100
2,150
10
Charges /Fees for Services
2,998
4,049
3,938
4,465
(300)
4,165
11
Transfers In Other Funds
1,631
1,696
1,889
1,571
300
1,871
12
Intergovernmental Revenue
2,377
1,166
1,429
894
400
1,294
13
Other Taxes /Miscellaneous
1,293
1,211
1,082
1,313
1,313
14
Subtotal
48,690
47,314
49,751
52,550
(800)
51,750
CAPITAL Dedicated Revenues
15
Real Estate Excise Taxes
257
379
256
201
201
16
Motor Vehicle Taxes
393
394
460
345
345
17
Investment Interest/Misc.
242
131
156
23
23
18
Property Taxes
12
0
(0),
65
65
19
Parking Taxes
156
144
153
111
111
20
Subtotal
1,060
1,047
1,025
745
0
745
21
TOTAL REVENUE AVAILABLE
49,750
48,362
50,776
53,295
(800)
52,495
EXPENDITURES
22
Operations Maintenance
46,472
45,104
44,780
46,615
0
46,615
(See Attachment B)
23
Admin /Engineering Overhead
497
552
516
403
403
24
Debt Service
2,611
2,307
2,569
2,909
504
3,413
25
Available after Payment of DS,'
170
399
2,911
3,368
(1,304)
2
26
Transfer to Contingency Fund
0
0
566
3,000
0
3,000
Subtotal Available
170
399
2,344
368
(1,304)
(935)
Cabital- Attachment C
27
Residential Streets
0
300
(0)
650
650
28
Arterial Streets
5,407
295
6,089
(3,715)
(3,715)
29
Park Acq /Development
(484)
272
99
459
459
30
Facilities
160
13
9
87
87
31
General Govt Improvmntsl'
562
517
830
2,242
(1,387)
855
32
Fire Improvements
(0)
(0)
(158)
(50)
(50)
33
Subtotal Capital
5,646
1,396
6,869
(327)
(1,387)
(1,714)
34
Balance by Year
(5,475)
(997)
(4,524)
696
83
779
35
Carryover
27,394
21,918
20,921
16,397
16,397
36 (Accumulated Totals 21,918 20,921 16,397 1 17,092 83 17,175
2013 2018 Financial Planning Model VI l 0513012012
ATTACHMENT B
City of Tukwila
General Fund Operations Maintenance Expenditures
Model Years 2013 2018, in 000's
2011 Actuals and 2012 Budget Analysis
4 2013 2018 Financial Planning Model XI
EXPENDITURES
City Council
Mayor, Boards
Human Resources
Finance
City Attorney
Parks /Recreation Prk Mnt
Community Development
Municipal Court
Police
Fire
Information Technology
Public Works /Streets
Dept. 20 Miscellaneous
Transfers to Water Fund
Transfers to Golf Course
Transfers to Fire Equipment.
Transfers to Drug Seizure
Loan to MPD
TOTAL EXPENDITURES
2011
2012 2012
Actuals
2012 Budget ADJ Projected
244
270
2,218
2,544
488
573
1,447
1,603
648
543
3,496
3,465
2,560
2,859
9451
994
14,296'
14,198
9,814
10,308
1,047
1,154
5,718
6,290
589
553
98
106
775
225
130
130
75
75
191
725
44,780
46,615
05/30/2012