HomeMy WebLinkAboutReg 2013-07-01 Item 2E - Powerpoint Presentation Shown at Meeting - 2013 1st Quarter Financial Report1St Quarter 2013
Financial Report
City of Tukwila
July 1, 2013
1st Quarter 2013 Financial Report
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Agenda
Economic indicators
City -wide change in fund balances
General Fund
Enterprise and Internal Service Funds
Cash and Investment Balances
Debt Service Schedules
1st Quarter 2013 Financial Report
State of the Economy
Economic indicators 2011
2012
2013
2014
2015
Unemployment 9.57
8.72
7.56
6.87
6.45
Change in personal income 4.8
5.1
4.5
4.3
5.2
Change in disposable personal income 3.9
4.3
4.1
3.6
5.2
Change in manufacturing 1.4
4.8
3.4
0.8
2.1
Change in construction (5.7)
(1.1)
5.0
5.8
7.1
National and global issues:
• Sequestration likely to be extended through September 30th
• European debt crisis and recession
• Slowing Asian economies
Source: Washington State Economic and Revenue Forecast Council June 6, 2013 Economic Review Meeting
1st Quarter 2013 Financial Report
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Fund Balances City Wide
CITY -WIDE
FUND BALANCES
CHANGE IN FUND BALANCE
Variance
YTD
ACTUAL
12/31/2012 3/31/2013
- -- ACTUAL - --
YTD
• -- BUDGET - -.
YTD
Governmental funds
$ 18,149,418 $ 16,639,109
$ (1,510,309)
$ (496,533)
$ (1,013,776)
Enterprise funds
11,011,318 12,648,262
1,636,944
(637,377)
2,274,321
Internal service funds
10,638,314 10,987,116
348,802
(229,597)
578,399
City -wide Total
$ 39,799,050 $ 40,274,487
$ 475,437
$ (1,363,507)
$ 1,838,943
Year -to -date actual change in governmental fund balance is primarily due to
property tax collections in the general fund. 1st quarter collections is
typically very low and comparable with previous years collections.
Significant changes in selected funds (over /under $200K)
1St Quarter 2013 Financial Report
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General Fund Revenues
Q1 2012
% of
Actuals Budget
Q1 2013
% of
Actuals Budget
Over/
(Under)
Prior Year
Operating Revenue
MPD Bond Proceeds
Total Revenue
Property Taxes
Sales & Use Taxes
RGRL
$10,929,730 20.50%
$10,929,730 20.50%
$445,399 3.21%
$4,128,094 27.43%
$1,640,354 83.06%
$11,585,190
$1,000,000
$12,585,190
$504,320
$4,360,063
$1,612,646
1St Quarter 2013 Financial Report
22.71%
21.15%
3.65%
28.50%
92.15%
$655,460
$1,000,000
$1,655,460
$58,921
$231,969
$(27,708)
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General Fund Expenditures
Q1 2012
% of
Actuals Budget
Q1 2013
% of
Actuals Budget
Over/
(Under)
Prior Year
Operating Expenditures
MPD Loan
Transfers Out
Total Expenditures
$10,205,285 22.50%
$8,205 0.08%
$10,213,490 18.33%
Salaries and Benefits $7,891,054 23.41 %
Supplies $214,730 17.99%
Professional Services $1,712,640 20.93%
Intergovernmental $374,107 19.00%
Loan to MPD
Transfers Out $8,205 0.08%
$11,630,107 24.21%
$1,250,000 -
$1,625,920 16.43%
$14,506,027 25.04%
$8,574,274 24.98%
$184,017 13.59%
$2,379,760 24.45%
$484,767 22.28%
$1,250,000
$1,625,920 16.43%
1St Quarter 2013 Financial Report
$1,424,822
$1,250,000
$1,617,715
$4,292,537
$683,220
$(30,713)
$667,120
$110,660
$1,250,000
$1,617,715
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Enterprise & Internal Service
Revenues Expenses
Water $1,133,300 21.02% $1,362,545 20.65%
Sewer $1,844,551 27.72% $1,165,553 16.27%
Foster Golf Course $246,869 13.78% $341,578 20.00%
Surface Water $1,939,157 46.09% $657,286 12.82%
Equipment Replacement
Self- Insurance
LEOFF Insurance Fund
$614,855 16.08%
$1,165,510 25.01%
$947 28.37%
1st Quarter 2013 Financial Report
$353,746 9.11%
$996,132 19.87%
$82,630 16.25%
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Et
• Cash and Investment Balances Report
• Debt Schedules
• 2nd Quarter Financial Report
• Q &A
The City of Opportunity,
The Community of Choice
1st Quarter 2013 Financial Report