to: mayor and city council from: charles ozaki, city and

To: Mayor and City Council From: Charles Ozaki, City and County Manager Prepared by: Kevin Standbridge, Deputy City and County Manager

Pat Soderberg, Finance Director Joyce Alberts, Budget Manager Brenda Richey, Deputy Finance Director Valerie Price, Accounting Manager

Meeting Date Agenda Category Agenda Item # April 23, 2019 Manager’s Report 13(d)

Budget Tracking and Revenue Reports - February 2019 Summary

The purpose of this report is to provide a high-level monthly status update on revenues and expenditure performance compared to the adopted budget and the same period of the prior year. Attached is a summary of all financial activity for February 2019. Highlights for each major fund group follow below, with additional detail and explanation in the remainder of the report. BUDGET TRACKING REPORT All Funds (Attachment 1)

● This report shows the February 2019 revenues and expenditures grouped by each category of funds. ● The shaded lines noted in each fund category report the net results before other sources/uses of funds are considered. ● More detailed information is presented for each category of funds on the reports included as Attachments 2 through 5.

General Governmental Operating Funds (Attachment 2) ● The ending fund balance for the General Governmental Operating Funds, as of February 2019, totaled $9,467,272, which is about $6 million more

than the budgeted amount. This is due to the fact that the 2019 beginning balance (i.e. the 2018 ending balance) is $6.3 million more than the projected amount.

● Total 2019 revenues for General Governmental Operating Funds year-to-date through February were flat with the budgeted levels and 14.7% lower than 2018 revenues. Most of the variance from 2019 projected and 2018 actual amounts are decreases in Property Tax, Building Use Tax, and Licenses and Permits.

● Sales Tax Revenues in the General Governmental Operating Funds year-to-date were 7.2% ($295,535) higher than 2019 projections through February and 5.2% ($216,351) higher than 2018 actual amounts.

● Building Use Tax revenues were 46.6% ($254,846) less than projected through February 2019, and 76.5% ($952,925) less than they were for the same period in 2018. Through February 2019, multi-family permits are zero compared to 198 through February 2018. Single-family permits through February 2019 were 53 compared to 100 through February 2018.

● Total 2019 operating expenses, year-to-date through February, were 2.7% ($358,503) more than budgeted levels and 18.5% ($2,127,413) more than the same period of 2018. The 2019 actual expenses are higher than budgeted due to professional services, repair and maintenance, and the timing for the community-based organization payments. The variance from the prior year amount is primarily due to higher personnel, professional services and the timing of the payments to the community-based organizations.

Utility Operating Funds (Attachment 3) ● Total operating revenues through February 2019 are 11.2% ($287,469) less than budgeted estimates and 5.2% ($111,288) more than 2018. ● Operating expenditures for 2019 year-to-date were 1.9% ($48,070) more than the projected budget and were 13.8% ($306,007) higher than 2018.

The variance from the prior year is primarily due to higher costs for personnel, chemicals, and contractual services expenses.. Capital Funds (Attachment 4)

● Through February, 9.7% of the General Governmental Capital Budgets and 3.6% of the Utilities Capital Funds have been spent. These relatively low percentages are typical, given the requirement to fund the entire cost for multi-year projects before the construction contract can be signed. More detailed information on the status of selected projects currently under construction is included on the monthly Manager’s Report, presented to City Council in a separate agenda item.

Trust Funds (Attachment 5) ● Interest revenue and benefit payments for the pension plans are reported to Broomfield by the plan administrator on a quarterly basis and posted to

the accounts in the month following the end of each quarter. The contributions revenue year-to-date through February is 5.3% ($206,528) lower than 2018. This is due, in part, to the transition of the majority of the Police Money Purchase Plan participants to the FPPA retirement system.

REVENUE REPORT (Attachment 6) ● Total Sales Tax revenues collected by both operating and capital funds through February were 3.87% higher than projected and 2.48% higher than

2018. This variance differs from the one reported above for General Governmental Operating funds Sales Tax revenues. This is a factor of where the sales tax revenue is being generated and how it is allocated between operating and capital funds.

● Year-to-date revenues for “All General Governmental Operating” type revenue (including transfers) were 0.59% more than projected for 2019 and 12.27% less than 2018. As noted above in the General Governmental Operating Funds section, this is mainly due to the timing of Property Taxes received and the lower construction activity impacts to Building Use Taxes and Licenses & Permits.

Prior Council Action Council has received monthly financial updates at Council meetings since 2009.

Financial Considerations Based on the reports, actual expenditure activity for 2019 fell within the budgeted amounts, at the fund level.

Alternatives N/A

Proposed Actions/Recommendations Staff would appreciate any comments or feedback regarding these reports.

13(d) -

Attachment 1

City and County of BroomfieldMonthly Budget Report - All Funds

February 28, 2019

Total Original Budget 2019

YTD Budget 2019

YTD Actual 2019

Favorable/ (Unfavorable)

varianceYTD

Actual 2018


variance

General Governmental Operating FundsOperating Revenues ( 117,412,024) ( 11,415,962) 11,413,840 0.0%) ( 13,382,235) (14.7%)Operating Expenditures ( (111,770,859) ( (13,266,639) ( (13,625,142) (2.7%) ( (11,497,729) (18.5%)Net Operating Results ( 5,641,165) ( (1,850,677) ( (2,211,302) N/A ( 1,884,506) N/AOther Sources and Uses of Funds(net) ( (9,849,773) ( (1,410,138) ( (1,410,138) 0.0%) ( (1,825,893) 22.8%)Net Sources/Uses of Funds (4,208,608) (3,260,815) (3,621,440) N/A 58,613 N/A

Utility Operating FundsOperating Revenues ( 29,997,474) ( 2,557,658) 2,270,189 (11.2%) ( 2,158,901) 5.2%)Operating Expenditures ( (25,121,447) ( (2,474,791) ( (2,522,861) (1.9%) ( (2,216,854) (13.8%)Net Operating Results ( 4,876,027) ( 82,867) ( (252,672) N/A ( (57,953) N/AOther Sources and Uses of Funds(net) ( (7,289,536) ( (1,232,932) ( (1,170,775) 5.0%) ( (783,324) (49.5%)Net Sources/Uses of Funds (2,413,509) (1,150,065) (1,423,447) N/A (841,277) N/A

General Governmental Capital FundsAnnual Revenues 46,752,315 5,294,982Annual Expenditures ( (52,380,624) ( (5,059,352) Net Before Other Sources/(Uses) of Funds ( (5,628,309) ( 235,630) Other Sources and Uses of Funds(net) ( 5,193,545) ( 913,485) Net Sources/Uses of Funds (434,764) 1,149,115

Utility Capital FundsAnnual Revenues 44,826,489 2,735,020Annual Expenditures ( (62,263,089) ( (2,255,269) Net Before Other Sources/(Uses) of Funds ( (17,436,600) ( 479,751) Other Sources and Uses of Funds(net) ( - ) ( - ) Net Sources/Uses of Funds (17,436,600) 479,751

Trust FundsAnnual Revenues ( 22,642,249) ( 2,597,216) 3,685,907 41.9%) ( 3,920,857) (6.0%)Annual Expenditures ( (17,553,708) ( (1,433,560) ( (1,117,951) 22.0%) ( (637,312) (75.4%)Net Before Other Sources/(Uses) of Funds ( 5,088,541) ( 1,163,656) ( 2,567,956) N/A ( 3,283,545) N/AOther Sources and Uses of Funds(net) ( - ) ( - ) ( - ) N/A ( - ) N/ANet Sources/Uses of Funds 5,088,541 1,163,656 2,567,956 N/A 3,283,545 N/A

Total: All FundsTotal Revenues 261,630,551 25,399,938Total Expenditures ( (269,089,727) ( (24,580,575) Net Before Other Sources/(Uses) of Funds ( (7,459,176) ( 819,363) Other Sources and Uses of Funds(net) ( (11,945,764) ( (1,667,428) Net Sources/Uses of Funds (1) (19,404,940) (848,065)

(1) In governmental budgeting, particularly in capital funds, it is not unusual for the total net sources/uses of funds in a given year to reflect an overall decrease (net use of funds). This is the result of planned utilization of fund balances to cover expenditure of funds for current year needs (this may include one-time operating costs for implementation of enhanced services or spending for large capital projects). For the 2019 budget, beginning fund balances of $170,647,760 are projected to decrease $19,404,940 - as shown in the 2019 Budget Column above - resulting in a projected ending fund balance of $151,242,820.

13(d) -

Attachment 2

City and County of BroomfieldMonthly Budget Report of General Governmental Operating Funds

(Excludes Capital, Utility Enterprise and Trust Funds)February 28, 2019

OriginalBudget2019

YTDBudget

2019

YTDActual2019

Favorable/ (Unfavorable) variance 2019 YTD Budget

to Actual

YTD Actual 2018


variance 2019 YTD to

2018 YTDAnnual Revenues Taxes Sales Tax (including Sales Tax Audit Revenue) ( 31,422,321) ( 4,112,008) ( 4,407,543) 7.2%) ( 4,191,192) 5.2%) Property Tax ( 34,452,465) ( 782,125) ( 584,277) (25.3%) ( 1,414,866) (58.7%) Specific Ownership Tax ( 2,348,346) ( 212,200) ( 211,524) (0.3%) ( 399,230) (47.0%) Use Tax - Building Materials ( 3,243,039) ( 547,357) ( 292,511) (46.6%) ( 1,245,436) (76.5%) Use Tax - Vehicle ( 3,820,900) ( 580,121) ( 701,651) 20.9%) ( 590,644) 18.8%) Gas and Electric Tax ( 2,483,000) ( 15,198) ( - ) (100.0%) ( 17,318) (100.0%) Other Taxes ( 1,920,500) ( 46,787) ( 22,786) (51.3%) ( 51,006) (55.3%) License and Permits ( 4,096,775) ( 763,323) ( 578,125) (24.3%) ( 923,178) (37.4%) Intergovernmental Health and Human Services ( 9,820,499) ( 775,679) ( 1,117,543) 44.1%) ( 910,028) 22.8%) Highway User Tax/Registration Fees ( 2,345,000) ( 341,409) ( 391,247) 14.6%) ( 362,062) 8.1%) Other Intergovernmental ( 1,713,538) ( 162,409) ( 99,952) (38.5%) ( 144,963) (31.0%) Charges for Services Recreation Services ( 5,360,350) ( 841,947) ( 884,615) 5.1%) ( 998,858) (11.4%) Internal Services ( 7,587,151) ( 1,264,019) ( 1,264,526) 0.0%) ( 1,179,632) 7.2%) Other Charges for Service ( 4,874,390) ( 677,651) ( 623,670) (8.0%) ( 725,782) (14.1%) Investment Earnings ( 673,700) ( 85,471) ( 94,115) 10.1%) ( 53,435) 76.1%) Other Revenue ( 1,250,050) ( 208,258) ( 139,755) (32.9%) ( 174,605) (20.0%)YTD Revenues-General Government Operating Funds 117,412,024 11,415,962 11,413,840 (0.0%) 13,382,235 (14.7%)Annual Expenditures Personnel ( 73,251,519) ( 8,452,098) ( 8,409,953) 0.5%) ( 7,797,403) (7.9%) Supplies ( 5,603,966) ( 642,893) ( 568,529) 11.6%) ( 497,373) (14.3%) Contractual Professional Services ( 6,965,802) ( 695,865) ( 853,961) (22.7%) ( 514,413) (66.0%) District Attorney Services ( 2,628,857) ( 438,143) ( 398,143) 9.1%) ( 363,562) (9.5%) Community Based Organizations ( 1,717,835) ( 176,042) ( 524,138) (197.7%) ( 123,773) (323.5%) Insurance ( 2,370,795) ( 646,360) ( 377,006) 41.7%) ( 430,309) 12.4%) Utilities ( 4,631,415) ( 352,258) ( 365,522) (3.8%) ( 339,463) (7.7%) Repair and Maintenance ( 5,331,962) ( 844,549) ( 1,123,943) (33.1%) ( 620,497) (81.1%) Other - Training; Printing; Postage; Dues; Rental ( 2,918,282) ( 431,010) ( 265,500) 38.4%) ( 282,552) 6.0%) Operating Equipment ( 464,697) ( 149,500) ( 149,361) 0.1%) ( 113,455) (31.6%) Human Services Client Benefits ( 5,885,729) ( 437,921) ( 589,086) (34.5%) ( 414,929) (42.0%)YTD Expenditures-General Government Operating Funds 111,770,859 13,266,639 13,625,142 (2.7%) 11,497,729 (18.5%)

Net Operating Results - Over/(Under) 5,641,165 (1,850,677) (2,211,302) N/A 1,884,506 N/A Other Sources/(Uses) of Funds Capital Funds - Transfers Out ( (3,353,334) ( (558,890) ( (558,890) 0.0%) ( (975,334) 42.7%) Debt/Lease Payments ( (3,628,842) ( -) ( - ) N/A ( -) N/A Contribution to Benefit Plans ( (1,821,247) ( (851,248) ( (851,248) 0.0%) ( (850,559) (0.1%) Transfers to Reserves ( (1,116,350) ( -) ( - ) N/A ( -) N/A Transfers from Reserves ( 70,000) ( -) ( - ) N/A ( -) N/ASubtotal Other Sources/(Uses) of Funds (9,849,773) (1,410,138) (1,410,138) 0.0%) (1,825,893) 22.8%)

Net YTD Sources/ (Uses) of Funds (4,208,608) (3,260,815) (3,621,440) N/A 58,613 N/A

Beginning Fund Balance (does not include Reserves) 6,780,976 6,780,976 13,088,712 N/A 7,516,363 N/A

Ending Fund Balance (does not include Reserves) 2,572,368 3,520,161 9,467,272 N/A 7,574,976 N/A

13(d) -

Attachment 3

City and County of BroomfieldMonthly Budget Report of Utilities Operating Funds

February 28, 2019

OriginalBudget2019

YTDBudget2019

YTDActual2019

Favorable/ (Unfavorable) variance 2019 YTD Budget

to Actual

YTD Actual 2018


variance 2019 YTD to

2018 YTD

Annual RevenuesCharges for Services ( 27,867,120) ( 2,202,599) ( 2,109,137) (4.2%) ( 2,009,563) 5.0%)Environmental Compliance Fee (ECF) ( 1,616,690) ( 269,448) ( 127,433) (52.7%) ( 124,452) 2.4%)Other (Interest, Contributions, Fees) ( 513,664) ( 85,611) ( 33,619) (60.7%) ( 24,886) 35.1%)YTD Operating Revenues - Utilities Funds 29,997,474 2,557,658 2,270,189 (11.2%) 2,158,901 5.2%)Annual Operating ExpendituresPersonnel ( 6,457,347) ( 745,079) ( 788,966) (5.9%) ( 681,709) (15.7%)Supplies Chemicals ( 945,777) ( 79,139) ( 133,882) (69.2%) (88,484) (51.3%) Equipment (less than $5,000) ( 522,620) ( 13,559) ( 13,999) (3.2%) ( 10,987) (27.4%) Other Supplies ( 594,451) ( 40,761) ( 85,195) (109.0%) ( 64,301) (32.5%)Contractual Contractual Services ( 1,088,223) ( 117,880) ( 145,187) (23.2%) ( 103,593) (40.2%) Denver Water ( 6,630,254) ( 185,414) ( 157,157) 15.2%) ( 115,225) (36.4%) Water Fees - CBT/NCWCD ( 1,662,234) ( 149,446) ( 140,654) 5.9%) ( 239,113) 41.2%) Repair and Maintenance ( 492,969) ( 90,800) ( 52,020) 42.7%) (39,145) (32.9%) Insurance ( 291,023) ( 79,297) ( 47,531) 40.1%) (42,267) (12.5%) Utilities ( 1,729,642) ( 154,096) ( 157,056) (1.9%) (139,420) (12.6%) Services Rendered - General Fund ( 4,346,440) ( 724,407) ( 724,408) (0.0%) (639,514) (13.3%) Other - Training; Printing; Postage; Dues; Rental ( 360,467) ( 94,915) ( 76,806) 19.1%) (53,096) (44.7%)YTD Operating Expenditures - Utilities Funds 25,121,447 2,474,791 2,522,861 (1.9%) 2,216,854 (13.8%)

Net Operating Results - Over/(Under) 4,876,027 82,867 (252,672) N/A (57,953) N/AOther Sources/(Uses) of FundsOperating Equipment (greater than $5,000) ( (74,453) ( - ) ( -) N/A ( - ) N/AOperating Capital Water Operating Capital Repair and Maintenance ( (1,900,325) ( (137,332) ( (130,866) 4.7%) ( (17,044) (667.8%) Sewer Operating Capital Repair and Maintenance ( (2,923,350) ( (665,737) ( (574,836) 13.7%) ( (35,183) (1533.8%) Reuse Water Operating Capital Repair and Maintenance ( (169,000) ( (5,000) ( (4,956) 0.9%) ( (259,485) 98.1%)Transfers from ECF Reserves ( 280,000) ( - ) ( -) N/A ( -) N/ATransfers to ECF Reserves ( (1,616,690) ( (269,448) ( (127,433) 52.7%) ( (124,452) (2.4%)Transfers to Defined Benefit Pension Plan ( (371,379) ( (155,414) ( (332,684) (114.1%) ( (347,160) 4.2%)Debt Service Payment ( (514,339) ( - ) ( -) N/A (0) N/ASubtotal Other Sources/(Uses) of Funds (7,289,536) (1,232,932) (1,170,775) 5.0%) (783,324) (49.5%)

Net YTD Sources /(Uses) of Funds (2,413,509) (1,150,065) (1,423,447) N/A (841,277) N/A



13(d) -

Attachment 4

City and County of BroomfieldGeneral Governmental and Utility Capital Funds

February 28, 2019General Governmental Funds Utilities Funds

OriginalBudget 2019

YTD Actual2019

YTD Actual as a % of

Budget

OriginalBudget 2019

YTD Actual2019

YTD Actual as a % of

Budget

Annual RevenuesTaxes ( 43,693,415) ( 4,971,391) 11.4%) ( -) ( -) N/AIntergovernmental ( 650,000) ( 21,693) 3.3%) ( -) ( -) N/ACharges for Services ( -) ( -) N/A ( 43,183,928) ( 2,521,039) 5.8%)Other (Interest, Contributions, Fees) ( 2,408,900) ( 301,898) 12.5%) ( 1,642,561) ( 213,981) 13.0%)Total Annual Revenues 46,752,315 5,294,982 11.3%) 44,826,489 2,735,020 6.1%)Capital Expenditures Capital Improvement Program Projects Building & Facilities ( 1,328,230) ( 211,179) 15.9%) ( -) ( -) N/A Drainage & Stormwater ( 103,500) ( -) 0.0%) ( -) ( -) N/A Community Development ( 8,151,733) ( 1,415) 0.0%) ( -) ( -) N/A Information Technology ( 1,633,400) ( 345,044) 21.1%) ( -) ( -) N/A Landscaping ( 1,046,240) ( 43,007) 4.1%) ( -) ( -) N/A Open Space Acquisition & Improvement ( 853,103) ( 413,137) 48.4%) ( -) ( -) N/A Parks & Recreation ( 3,453,962) ( 3,186,198) 92.2%) ( -) ( -) N/A Planning & Miscellaneous ( 2,685,000) ( 50,000) 1.9%) ( -) ( -) N/A Public Art & Culture ( 77,658) ( 18,012) 23.2%) ( -) ( -) N/A Trail Improvements ( 3,408,906) ( 24,774) 0.7%) ( -) ( -) N/A Transportation ( 10,109,409) ( 617,471) 6.1%) ( -) ( -) N/A Vehicle & Equipment ( 1,868,150) ( 149,115) 8.0%) ( -) ( -) N/A Utility Funds Projects Water Fund Projects ( -) ( -) N/A ( 38,809,050) ( 1,650,428) 4.3%) Sewer Fund Projects ( -) ( -) N/A ( 12,602,277) ( 604,841) 4.8%) Reuse Fund Projects ( -) ( -) N/A ( 1,788,738) ( -) 0.0%)Lease Payments - General Governmental Funds ( 4,054,658) ( -) 0.0%) ( -) ( -) N/ADebt Service on Bonds- General Governmental Funds ( 13,606,675) ( -) 0.0%) ( -) ( -) N/ADebt Service on Bonds - Utilities Funds ( -) ( -) N/A ( 9,063,024) ( -) 0.0%)Total Capital Expenditures 52,380,624 5,059,352 9.7%) 62,263,089 2,255,269 3.6%)

Net Before Other Sources/(Uses) of Funds (5,628,309) 235,630 N/A (17,436,600) 479,751 N/A

Other Sources/(Uses) of Funds Transfers to Reserves ( (4,012,039) ( (620,781) 15.5%) ( -) ( -) N/A Transfers from Reserves ( 5,852,250) ( 975,376) 16.7%) ( -) ( -) N/A Interfund Transfers In ( 3,353,334) ( 558,890) 16.7%) ( -) ( -) N/ASubtotal Other Sources/(Uses) of Funds 5,193,545 913,485 17.6%) ( -) ( -) N/A

Net Annual Activity (434,764) 1,149,115 N/A (17,436,600) 479,751 N/A

Beginning Balance, in excess of Reserves 14,544,400 130,746,320 N/A 42,968,847 102,039,073 N/A

Ending Fund Balance (does not include Reserves) 14,109,636 131,895,435 N/A 25,532,247 102,518,824 N/A

Ending Balance by Fund Budget YTD Actual Budget YTD Actual

Sale & Use Tax Capital Improvement Fund (CIP) 1,104,557 106,764,846Asset Replacement Fund ( 2,390,155) ( 6,826,427) Conservation Trust Fund (Lottery Funds) ( 231,894) ( 1,477,687) Open Space and Parks Fund ( 1,487,047) ( 4,365,405) Service Expansion Fee Fund (SEF) ( 7,477,647) ( 6,557,854) Development Agreement Fund ( 1,134,339) ( 5,435,099) Debt Service Fund ( 283,997) ( 468,117) Utilities Funds 25,532,247 102,518,824Total Ending Fund Balance 14,109,636 131,895,435 25,532,247 102,518,824

Note 1. The ending fund balance does not include reserve amounts that have been earmarked for specific uses. The projected ending reserve balance, as of December 2019, held in the Governmental Capital Funds are estimated to be: $3,595,456 Facilities Improvements; $5,453,632 Asset Protection; $313,684 Open Space- Markel Parcel 4; CIP Fund - Debt Sinking Fund $5,296,067 and $14,221,633 Debt Service Reserves. The projected Debt Service Reserves held in the Utility Funds as of December 2019 equal $38,151,938.

13(d) -

Attachment 5

City and County of BroomfieldMonthly Budget Report - Trust Funds

February 28, 2019

OriginalBudget

2019

YTD Budget

2019

YTDActual2019

Favorable/ (Unfavorable) variance 2019 YTD Budget to

Actual

YTD Actual 2018

Favorable/ (Unfavorable) variance 2019 YTD to 2018

YTDAnnual RevenuesContributions ( 16,563,609) ( 2,457,316) ( 3,676,306) 49.6%) (3,882,834) (5.3%)Other (Interest and Other Fees) ( 6,078,640) ( 139,900) ( 9,601) (93.1%) (38,023) (74.7%)YTD Revenues 22,642,249 2,597,216 3,685,907 41.9%) 3,920,857 (6.0%)Annual Operating ExpendituresBenefit Payments ( 15,323,785) ( 1,095,356) ( 799,474) 27.0%) (399,429) (100.2%)Insurance ( 1,513,968) ( 252,328) ( 239,057) 5.3%) (168,575) (41.8%)Administrative & Other ( 715,955) ( 85,876) ( 79,420) 7.5%) (69,308) (14.6%)YTD Operating Expenditures 17,553,708 1,433,560 1,117,951 22.0%) 637,312 (75.4%)

Net YTD Sources/ (Uses) of Funds 5,088,541 1,163,656 2,567,956 N/A 3,283,545 N/A



Ending Balance by Fund 2019 Original

Budget 2019 YTD

Budget 2019 YTD

Actual 2018 YTD

Actual Employee Medical Care Plan 2,009,451 3,536,498 5,547,086 4,492,647General Employee Pension Retirement Plan ( 11,199,098) (10,972,271) ( 11,139,800) ( 11,530,289) General Employee Money Purchase Retirement Plan* ( 75,120,505) (70,311,634) ( 61,524,902) ( 64,732,329) Police Employee Defined Pension Retirement Plan ( 58,024) (92,591) ( 63,534) ( 69,988) Police Employee Money Purchase Retirement Plan* ( 508,991) (468,330) ( 845,919) ( 49,370,419) Retiree Health Savings ( 3,057,816) ( 2,647,675) ( 2,412,290) ( 2,152,032) Total Ending Fund Balance 91,953,885 88,029,000 81,533,531 132,347,704

* The Money Purchase plans are defined contribution retirement plans. The amounts held in these funds are employee retirement accounts held in trust.

13(d) -

City and County of Broomfield

Financial Report – Revenue Tracking System Report

#2019-02 for

February, 2019

Prepared by the Broomfield Finance Department

Attachment 6

13(d) -

Actual - Above (Below) Budget Estimate

Actual - % Above (Below) Budget Estimate 3.87%

Table 1

February

Original 2019 Budget Estimate 61,669,397$

Sales Tax Revenues - Total Operating and Capital

Current Projected 2019 Revenues Based on Revenues Received To-Date 64,057,276$

2,387,879$

January February

MarchAprilMayJuneJuly

AugustSeptember

OctoberNovemberDecember

0

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

10,000,000

January February March April May June July August September October November December

Sales Tax Revenues - Month to Month

2016 Actual 2017 Actual 2018 Actual 2019 Projection 2019 Actual

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000


Sales Tax Revenue - Total to Date


4/16/201913(d) -




1,438,623$

Table 2

Use Tax on VehiclesFebruary


January February


AugustSeptember


0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000


Use Tax on Vehicles - Month to Month


0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000


Use Tax on Vehicles - Total to Date


4/16/201913(d) -



Table 3

Use Tax on Building Materials February



1,341,044$

January February


AugustSeptember


2014 Data

received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit. * Monthly collections have not shown a repeatable pattern. The 2019 monthly budget estimates for residential and add-on construction were projected as if revenues are

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000


Use Tax on Building Materials - Total to Date


0

500,000

1,000,000

1,500,000

2,000,000

2,500,000


Use Tax on Building Materials - Month to Date


4/16/201913(d) -




-$

Table 4

Property Tax RevenueFebruary


January February


AugustSeptember


2014 Data

* The first property tax collections occur in February of each year.* Negative amounts reflect abatements.

* The revenues associated with Property Taxes are set each year by assessed valuation and mill levies. The total amount projected on an annual basis should remain at the original budgeted amount unless valuation adjustments are made through the Assessor's Office resulting in tax abatements from original amounts due. Final payments for the year are due by June 30th.

-2,000,000

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000


Property Tax - Month to Month


0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

40,000,000

45,000,000


Property Tax - Total to Date


4/16/201913(d) -




964,431$

Table 5

Building Permit Fees February


January February


AugustSeptember

OctoberNovember

2014 Data

2014 Data

* Modified Cash Basis.

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000


Building Permit Fees - Total to Date


0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000


Building Permit Fees - Month to Date


4/16/201913(d) -



324,255$

Table 6

Highway Users' Tax


February


January February


AugustSeptember

October

NovemberDecember

*$602,456 received in August 2018 for July 2018 payment of SB 18-100 allocation.

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000


Highway Users' Tax Month to Month


0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000


Highway Users' Tax- Total to Date


4/16/201913(d) -



January February


AugustSeptember


Table 7

All General Operating Governmental Type Revenues February



773,264$

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000


All General Governmental Type Revenues - Month to Month


0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000


All General Governmental Type Revenues - Total to Date


4/16/2019 13(d) -


Actual - % Above (Below) Budget Estimate (0.70%)

Table 8


Water Sales Revenue February


(124,771)$

January February


AugustSeptember


2014 Data

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000


Water Sales Revenue - Month to Month


0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

20,000,000


Water Sales Revenue - Total to Date


4/16/201913(d) -



(5,158,445)$


Table 9

Water License Fees Revenue February


January February


AugustSeptember


2014 Data

* Modified Cash Basis.* Monthly collections have not shown a repeatable pattern. The 2019 monthly budget estimates for residential and add-on construction were projected as if revenues are received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit.

0

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


Water License Fees - Month to Month

2016 Actual 2017 Actual 2018 Actual 2019 Actual

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000


Water License Fees - Total to Date

2016 Actual 2017 Actual 2018 Actual 2019 Actual

4/16/201913(d) -



Table 10

Sewer Sales Revenue February



2,476$

January February


AugustSeptember


2014 Data

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000


Sewer Sales Revenue - Month to Month


0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000


Sewer Sales Revenue - Total to Date


4/16/201913(d) -



(9,266,784)$

Table 11

Sewer License Fees February



January February


AugustSeptember


2014 Data

* Modified Cash Basis.* Monthly collections have not shown a repeatable pattern. The 2019 monthly budget estimates for residential and add-on construction were projected as if revenues are

received equally each month. Multi-family and new construction projects have been included in the month the project is estimated to pull the permit.

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000


Sewer License Fees - Month to Month


0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000


Sewer License Fees - Total to Date


4/16/201913(d) -




(16,664,489)$

Table 12

Enterprise Funds Revenues February


January February


AugustSeptember


2014 Data

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

20,000,000


Enterprise Funds - Month to Month


0

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


Enterprise Funds - Total to Date


4/16/201913(d) -

to: mayor and city council from: charles ozaki, city and

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