HomeMy WebLinkAbout02-04-19 City Commission Packet Materials - SP2. FY19 Second Quarter Financial Report1 | Page
City of Bozeman Quarterly Budget Report
Fiscal Year 2019
Ending 2nd Quarter, 12/31/2018
Issued: 02/04/2019 By: Kristin Donald, Finance Director
Information is unaudited
All City Funds
After the second quarter, the City is in line to stay on budget for the Fiscal Year 2019. For all City funds, there remains
more than 50% of budget allocations for all categories.
Revenue recorded during the first half of the fiscal year totaled $58.9M. This represents 62% of the total revenue
budgeted.
48% 49% 43%
40% 35%
52% 51% 57%
60% 65%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Personnel Operations Capital Debt Service Transfers
City as a Whole - Expenditures Through 2nd Qtr FY19
Budget Allocation Used Remaining
71%
57%
36% 39%
59%
47%
70%
91% 88%
29%
43%
64% 61%
41%
53%
30%
9% 12%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
City as a Whole - Revenues Through 2nd QTR FY19
Received Estimated Remaining
93
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General Fund
The General Fund is used to account for all financial resources of the City, except for those required to be accounted for
in another fund. As of the second quarter, spending is in line to stay under budget. There are numerous capital
expenditures slated for spring project starts.
As of the end of the second quarter the General fund has received $14.3M of the estimated $31.8M or 45% of budgeted
revenues. The largest single source of revenue for the general fund is tax dollars and first-half payments of over 50% of
budget were received from Gallatin County in December. The second largest source is the State Entitlement Share, which
has been received on-time and on-budget. Lagging collections are the County Option Tax, Recreation Program revenues,
Cemetery revenues and other items. Many of these sources have a seasonal component that effects collections at this
point in the year.
47% 37%
36%
67%
53% 63%
64%
33%
0%
20%
40%
60%
80%
100%
120%
Personnel Operations Capital Transfers
General Fund- Expenditures Through 2nd Qtr
FY19
Budget Allocation Used Remaining
Expenditures
Budget
Allocation Expenditures Unused Allocation
Personnel $ 21,964,788 10,334,813 11,629,975
Operations $ 9,745,623 3,630,928 6,114,695
Capital $ 1,832,717 664,920 1,167,797
Transfers $ 491,188 328,688 162,500
TOTAL $ 34,034,316 14,959,349 19,074,967
Revenues
Budget
Estimate Revenues Unfunded
Charges for Services $ 2,940,941 1,594,800 1,346,141
Taxes $ 16,621,534 8,318,645 8,302,889
Intergovernmental Revenue $ 7,642,511 2,236,608 5,405,903
Other Financing Sources $ 3,011,619 1,256,982 1,754,637
Other Revenues $ 83,450 116,162 (32,712)
Fines & Forfeitures $ 1,131,000 535,491 595,509
Licenses & Permits $ 409,475 269,403 140,072
TOTAL $ 31,840,530 $ 14,328,091 $ 17,512,439
94
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Other Governmental Funds- Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of specific revenue source, usually required to be restricted
by statute or ordinance. While we have dozens of special revenue funds, of note are the Building Inspection fund and the
Community Development fund.
The Building Inspection Fund is
supported entirely by the revenue from
building fees and permits. Revenue and
expenditures are statutorily restricted to
amounts that support the division. The
fund has collected as of the second
quarter $1M or 59% of budgeted
revenues. Fund expenditures amounted
to $1M through the 2nd quarter, or 38%
of the budgeted $2.6M for the fiscal year.
The Community Development Fund
is a separate fund that accounts for
revenues and expenditures related to
planning and zoning operations. Total
revenues amounted to $749K through
the 2nd quarter, or 58% of budgeted
revenues for the year. Community
Development Fund expenditures
amounted to $632K through the 2nd
quarter, or 42% of the budgeted $1.5M
for the fiscal year.
Enterprise Funds
Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business
enterprises. Enterprise Funds account for the City's water, wastewater, solid waste, Stormwater and parking services. All
funds are in line to stay on budget and revenue estimates are on course. There are capital projects that will begin in the
third and fourth quarter.
Electrical
7% Plumbing
12%
Moving
Permits
0%
Demolition
Permits
0%
Plan Checks
47%
Building
Permits
34%
Penalties
0%
Building Inspection Revenue
47% 57% 54%
103%
69%
53% 43% 46%
-3%
31%
-20%
0%
20%
40%
60%
80%
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Impact Fee Fund update
Total revenue from Impact Fees was $4.3 Million through the 2nd quarter of FY19 or 27% of the budgeted revenues for
Street, Fire, Water and Wastewater Impact Fees combined. The nature of impact fees make the revenue collected a
difficult number to estimate accurately. The projects for these funds are prepared as part of the Capital Improvement
Plan. Several FY18 projects have carried over for these funds to be completed in FY19. Wastewater has two major projects
funded through debt service, which are the Davis Lift Station and the Front Street Interceptor.
**Budget Actual
% Collected/
Expended **Budget Actual
% Collected/
Expended
Revenues $ 1,888,070 $ 1,033,692 55% Revenues $ 4,342,250 $ 2,452,563 56%
Expenditures $ 5,382,844 $ 858,947 16% Expenditures $ 10,612,358 $ 3,438,574 32%
**Budget Actual
% Collected/
Expended Budget Actual
% Collected/
Expended
Revenues $ 9,287,208 $ 473,387 5% Revenues $ 392,363 $ 353,471 90%
Expenditures $ 9,450,319 $ 1,169,135 12% Expenditures $ 8,000 $ 5,259 66%
Water Impact Fees
Waste Water Impact Fees
Street Impact Fees
Fire Impact Fees
** Expenditure budget includes 2018 carry forward project budgets
29% 34%
54%
28%
65%
71% 66%
46%
72%
35%
0%
20%
40%
60%
80%
100%
120%
Enterprise Funds Expenditures
QTR FY19
Budget Allocation Used Remaining
52% 50% 47% 49%
39%
48% 50% 47%
49%
39%
0%
20%
40%
60%
80%
100%
120%
Enterprise Funds Revenue
Recieved QTR2 FY19
Received Estimated Remaining
96
100%
120%
Comminuty Development Revenues
95