HomeMy WebLinkAbout05-06-19 City Commission Packet Materials - SP1. COB Third Quarter FY19 Financial Update
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City of Bozeman Quarterly Budget Report
Fiscal Year 2019
Ending 3rd Quarter, 03/31/2019
Issued: 05/06/19 By: Kristin Donald, Finance Director Information is unaudited
All City Funds
Expenditures: After the third quarter, the City is in line to stay on budget for the Fiscal Year 2019. For all City funds, there
remains adequate unused budget allocations for this point in time for all categories.
Revenues: Revenue recorded through the third quarter of the fiscal year totaled $72.8M. This represents 81% of the total
revenue budgeted.
71%63%
47%46%
72%
29%37%
53%54%
28%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Personnel Operations Capital Debt Service Transfers
City as a Whole -Expenditures Through 3rd Qtr
FY19
Budget Allocation Used Remaining
80%
59%46%38%
106%
76%86%90%145%
20%
41%54%62%
0%
24%14%10%0%
0%
10%
20%
30%
40%
50%
60%
70%
80%90%
100%
City as a Whole -Revenues Through 3rd QTR FY19
Received Estimated Remaining
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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 third quarter, spending is on track to stay within budget.
As of the end of the third quarter the General fund has received $18.2M of the estimated $31.8M or 57% of budgeted
revenues. The largest single source of revenue for the general fund is tax dollars, which are assessed/collected twice during
the fiscal year. The first collection was in November and the second collection will occur in May. Many of these sources
have a seasonal component that effects collections at this point in the year.
71%51%43%
83%
29%49%57%
17%
0%
20%
40%
60%
80%
100%
120%
Personnel Operations Capital Transfers
General Fund-Expenditures Through 3rd Qtr FY19
Budget Allocation Used Remaining
Expenditures
Budget
Allocation Expenditures Unused Allocation
Personnel 21,964,788$ 15,500,944 6,463,844
Operations 9,745,623$ 4,990,121 4,755,502
Capital 1,832,717$ 795,966 1,036,751
Transfers 491,188$ 409,938 81,250
TOTAL 34,034,316$ 21,696,969 12,337,347
Revenues
Budget
Estimate Revenues Unfunded
Charges for Services 2,940,941$ 2,352,048 588,893
Taxes 16,621,534$ 9,353,813 7,267,721
Intergovernmental Revenue 7,642,511$ 3,340,692 4,301,819
Other Financing Sources 3,011,619$ 1,837,019 1,174,600
Other Revenues 83,450$ 140,232 (56,782)
Fines & Forfeitures 1,131,000$ 834,280 296,720
Licenses & Permits 409,475$ 335,898 73,577
TOTAL 31,840,530$ 18,193,982$ 13,646,548$
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Other Governmental Funds- Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of a 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. Revenues and
expenditures are statutorily restricted to
amounts that support the division
programs. At this time, the fund has
collected $1.28M or 72% of budgeted
revenues. Fund expenditures amounted to
$1.49M through the 3rd quarter, or 53% 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 programs. Total revenues
amounted to $1.1M through the 3rd
quarter, or 88% of budgeted revenues for
the year. Community Development Fund
expenditures amounted to $1M through
the 3rd quarter, or 64% of the budgeted
$1.6M 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
fourth quarter.
Estimated Revenue Received Budget Expenditures
Water 11,036,454 7,657,667 12,199,247 4,559,418
Wastewater 9,652,361 7,205,984 10,915,672 4,800,499
Solidwaste 3,948,592 3,164,694 3,764,084 2,935,158
Stormwater 1,398,188 1,071,718 1,444,302 598,022
Parking 1,021,340 810,628 859,371 512,743
Electrical
1%
Plumbing
16%
Moving Permits
0%
Demolition
Permits
0%
Plan Checks
49%
Building
Permits
34%
Penalties
0%
Building Inspection Revenue
71%94%
59%
145%
90%
29%6%
41%
0%
10%
0%
20%
40%
60%
80%
100%
120%
140%
160%
Comminuty Development Revenues
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Impact Fee Funds
Total revenue from Impact Fees is $5.1 Million through the 3rd quarter of FY19 or 33% of the budgeted revenues for
Street, Fire, Water & Wastewater Impact Fees combined. This percentage is so low in the Waste Water Impact Fee fund
due to the large projects that are requiring financing that are currently in the process of obtaining the financing and the
funds are drawn down when projects begin. The nature of impact fees make the revenue a difficult number to estimate
accurately because it depends on the size and attributes of various building permits that are issued. Spending on projects
within these funds are part of the Capital Improvement Plan. Several FY18 projects have carried over for these funds to
be completed in FY19.
69%75%80%77%79%
31%25%20%23%21%
0%
20%
40%
60%
80%
100%
120%
Enterprise Funds Revenue
Recieved QTR3 FY19
Received Estimated Remaining
37%44%
78%
41%60%
63%56%
22%
59%40%
0%
20%
40%
60%
80%
100%
120%
Enterprise Funds Expenditures
QTR3 FY19
Budget Allocation Used Remaining
**Budget Actual
% Collected/
Expended **Budget Actual
% Collected/
Expended
Revenues 1,888,070$ 1,296,942$ 69%Revenues 4,342,250$ 2,826,242$ 65%
Expenditures 5,382,844$ 1,058,086$ 20%Expenditures 10,612,358$ 3,708,728$ 35%
**Budget Actual
% Collected/
Expended Budget**Actual
% Collected/
Expended
Revenues 9,287,208$ 661,969$ 7%Revenues 392,363$ 401,332$ 102%
Expenditures 9,450,319$ 526,069$ 6%Expenditures 11,000$ 10,570$ 96%
Water Impact Fees
Waste Water Impact Fees
Street Impact Fees
Fire Impact Fees
** Expenditure budget includes 2018 carry forward project budgets
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