HomeMy WebLinkAbout(2) 2018-2019 BUDGET MONTHLY REPORT DECEMBER 2018 - 04`'
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2018-2019 Budget
Monthly Report
December 2018
City of Port Arthur 2018 - 2019 Budget
Monthly Report
December 31, 2018
F1'18-19 F1' 18-19 F1'18-19 1•-T-l) Budget
Original kmended 1'-T-1) Budget Balance
Budget Budget Actual vllocation 1'ariance Remaining
General Fund Sunimars
Res rnues
Taxes
Property Taxes 12,540,000 12,540,000 2,793,190 3,368,919 (575,729) 9,746,810
Industrial District Payments 30,100,000 30,100,000 30,800,597 29,655,077 1,145,520 (700,597)
Sales Tax 9,700,000 9,700,000 2,434,542 2,375.416 59,126 7,265,458
Other Taxes 9.270.000 9.270,000 1.375,058 1,315,668 59,390 7.894.942
Total Taxes 61,610,000 61,610,000 37,403,387 36,715,080 688,307 24,206,613
Licenses and Permits 741,200 741,200 195,489 185,286 10.203 545,711
Intergovernmental Revenue 141.772 141,772 6,036 35,439 (29,403) 135,736
Charges for Services 381,000 381,000 49,385 95,232 (45,847) 331,615
Fines and Forfeitures 935,100 935.100 240,936 233.772 7,164 694,164
Interest and Miscellaneous 527.100 527.100 427,642 131.766 295.876 99.458
Total Operating Revenues 64,336,172 64,336,172 38,322,875 37,396,575 926,300 26,013,297
Transfers from Other Funds 7.091.718 7,091,718 1,772,930 1,772,925 5 5,318,788
Total Revenues 71.427,890 71,427,890 40,095,805 39,169,500 926,305 31,332,085
Expenditures
Administration 1,613,294 1,613,294 263,300 375,256 (111,956) 1,349,994
City Secretary 2,097,232 2,097,232 549,842 469,244 80,598 1.547.390
City Attorney 1,127,621 1,127,621 236,043 247,409 (11,366) 891,578
Finance 2.288,445 2,288,445 397,411 506.932 (109,521) 1,891,034
Information Technology 1,772,046 1,772,046 304,607 410,166 (105,559) 1,467,439
Human Resources 813,215 813,215 137,789 178,884 (41,095) 675,426
Development Services 5,986,202 5,986,202 1,102,132 1,343,147 (241,015) 4,884,070
Civic Center 774,571 774,571 181.596 174.229 7,367 592,975
Police 20,509,145 20,509,145 4,073,179 4,435,165 (361,986) 16,435,966
Fire 13,905,674 13,905,674 3,272,612 3,182,033 90,579 10,633,062
Public Works 7,962,925 7,962,925 1,690,120 1,786,649 (96,529) 6,272,805
Health and Welfare 1,500.621 1,500,621 330,761 333.090 (2,329) 1,169,860
Parks and Recreation 3.048,723 3.048.723 396,724 696,636 (299,912) 2,651,999
Library 1.274,655 1,274,655 249,817 282,756 (32,939) 1.024,838
Total Operating Expenditure~ 64,674,369 64,674,369 13,185,933 14,421,594 (1,235,661) 51,488,436
Transfers to Other Funds 3,777,575 3,904,775 957,114 967.516 (10,402) 2,947,661
Total Expenditures 68,451,944 68.579,144 14,143,1147 15,389,110 (1,246,063) 54,436,097
Net Current Activity 2,975,946 2,848,746 25,952,758 23,780.3911
Estimated Beginning Fund Balance 19,942,542 19,942,542 19,942,542 19,942,542
(Adjusted To Write off Water Fd Advance)
Ending Fund Balance 22,918,488 22.791.288 45.895,300 43.722.932
City of Port Arthur 2018 - 2019 Budget
Monthly Report
December 31, 2018
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000 —Budgeted Revenue
—YTD Revenue
$30,000,000 —YTD Expenditures
$20,000,000
$10,000,000 --
$0
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
The chart above shows how actual YTD revenue and expenses in the General Fund
compared to budgeted revenue. As the year progresses and YTD revenue approaches the budget,
it will level off.while YTD expenses continue to increase. The goal is that they do not intersect.
City of Port Arthur 2018 - 2019 Budget
Monthly Report
December 31, 2018
FY 18-19 Fl 18-19 FY 18-19 Y-T-I) Budget
Original Amended V-T-D Budget Balance
Bine! Budget Actual Allocation _Variance Remaining
Water Fund Summary
Revenues
Licenses and Permits - - 10,900 - 10,900 -
Charges for Services 27.432,373 27,432,373 7,027,126 6,858,081 169,045 20,405,247
Fines and Forfeitures 6,171 6,171 4,890 1,542 3,348 1,281
Miscellaneous 18,436 18.436 1.435 4,608 (3373) 17,001
Total Operating Revenues 27,456,980 27.456,980 7,044,351 6,864,231 180,120 20,423,529
Transfers from Other Funds 410.000 410.000 102.500 102,498 2 307.500
Total Revenues 27,866.980 27,866,980 7,146,851 6,966,729 180.122 20.731.029
frxaenditures
1251 Administration 1,168,727 1,143.727 299,216 254,826 44.390 844,511
1252 Water Purification 5,994,189 5,994,189 1,325,316 1,447,266 (121.950) 4,668,873
1253 Water Distribution 3,562,452 3,562,452 691,629 800,292 (108.663) 2.870,823
1254 Customer Service 1,229,503 1,254,503 307,910 273,430 34,480 946,593
1255 Waste Water Conveyance 4,199,332 4,199,332 956,272 956,508 (236) 3,243,060
1256 Wastewater Treatment 2,349.053 2,349,053 682,894 549,386 133.508 1,666,159
1260 Environmental Regulatory Services 619,482 619,482 118,760 140,141 (21.381) 500.722
Total Operating Expenditures 19,122,738 19,122,738 4,381,997 4,421,850 (39,853) 14,740,741
Transfers to Other Funds 7,881,201 7.881.2.01 1.970,300 1,970,295 5 5,910,901
Total Expenditures 27,003,939 27,003,939 6,352,297 6,392,145 (39,848) 20,651,642
Net Current Activity 863,041 863,041 794,554 574,584
Estimated Beginning Net Position 44.468.342 44.468.342 44,468,342 44.468,342
(Adjusted To Write off Advance from Gen Fd)
Ending Net Position 45,331.383 45,331,383 45,262,896 45,042.926
Estimated Beginning W'orkine Capital (1,202,686) (1,202.686) (1 202,686) (1,202,686)
Ending Working Capital (339,645) (339,645) (408,132) (628,102)
City of Port Arthur 2018 - 2019 Budget
Monthly Report
December 31, 2018
F1' 18-19 FY 18-19 FY 18-19 Y-T-D Budget
Original Amended Y-T-D Budget Balance
Budget Budget Actual Allocation Variance Remaining
Solid\\astc Fund Sunman
Res enues
Charges for Services 8,340,000 8,340,000 1,963,890 2,084,994 (121,104) 6,376,110
Total Rcsenues 8,340,000 • 8,340,000 1,963,890 2,084.994 (121,104) 6,376,110
Expenditures
1271 Trash Collection 1,195,442 1,195,442 281,558 258.673 22,885 913,884
1272 Residential Collection 1,257,920 1,257,920 241,281 273,969 (32,688) 1,016.639
1273 Container Service 695,099 695,099 169,324 154,623 14,701 525,775
1274 Landfill 2,093,673 2,093,673 330,972 496,442 (165,470) 1.762,701
1275 Administration 134,062 134,062 28,744 28,950 (206) 105,318
Total Operating Expenditures 5,376,196 5,376,196 1,051,879 1,212,657 (160,778) 4,324,317
Transfers to Other Funds 2,857,534 2,857,534 714,384 714,375 9 2,143,150
Total Expenditures 8,233,730 8,233,730 1,766,263 1,927,032 (160,769) 6,467,467
Net Current Activity 106,270 106,270 197,627 157.962
Estimated Beginning Net Position (1,514255) (1,514,255) (1,514,255) (1,514,255)
Ending Net Position (1,407,985) (1,407,985) (1,316,628) (1,356.293)
Estimated Beginning Working Capital 3,364,196 3,364,196 3,364,196 3,364,196
Ending\'iorking Capital 3,470,466 3,470,466 3,561,823 3,522,158
Pleasure island Summan
Revenues
Miscellaneous 1,008,000 1,008,000 192,816 251,997 (59,181) 815.184
Total Revenues 1,008,000 1,008,000 192.816 251,997 (59,181) 815,184
Expenditures
1291 Administration 561,715 587,315 103.589 125,543 (21,954) 483,726
1292 RV Park 184,650 184,650 28.728 46,152 (17,424) 155,922
1293 Marina 79,000 359,000 122.762 47,746 75,016 236,238
1294 Parks 69,200 69,200 4,768 17,295 (12,527). ., 64,432
Total Operating Expenditures 894,565 1,200,165 259,847 236,736 23.111 940,318
Transfers to Other Funds 40,000 40,000 10,000 9,999 I 30,000
Total Expenditures 934.565 1.240.165 269,847 246,735 23,112 970,318
Net Current Activity 73,435 (232,165) (77,031) 5.262
Estimated Beginning Working Capital 249,574 249.574 249.574 249,574
Ending Working Capital 323,009 17,409 172.543 254,836
City of Port Arthur 2018 - 2019 Budget
Monthly Report
December 31, 2018
FY 16-17 Fl 17-18 FY 18-19 Total
Actual Actual Y-T-D FY17-FY19
(unaudited) Actual Actual
Disaster Fund Summary
Revenues
Federal/State Grants 10,125,000 2,375,000 4.815 12,504,815
Contributions-Donations 10,682 27,424 - 38,106
Insurance Proceeds - 10,015,834 211,844 10,227,678
Lease Proceeds - 4,283,586 - 4,283 586
Total Revenues 10,135,682 16,701,844 216,659 27,054,185
Expenditures
2300 Salaries and Benefits 3,694,644 790,263 - 4,484,907
Supplies and Materials 63,291 799,472 53,070 915,833
Maintenance 121,462 2,169,351 332,967 2,623,780
Contractual Services• 1,082,631 14,876,117 482,165 16,440,913
Capital Outlay • 1,140,878 6,325,453 212,767 7,679,098
Total Expenditures 6,102,906 24,960,656 1,080,969 32,144,531
Net Current Activity 4,032,776 (8,258.8121 (864,310) (5,090,346)
Estimated Beginning Fund Balance - 4,032,776 (4,226,036)
Ending Fund Balance 4,032,776 (4,226,036) (5,090,346)
*Expenditure Detail
Crowder Gulf - 11,124,369 - 11,124,369
Witt O'Brien's,LLC - 1,751,069 - 1,751,069
Republic Services 780,500 651,000 - 1.431,500
Port Arthur ISD 197,856 - - 197,856
ArdurraGroup - 575,875 439,597 1,015,472
Other 104,275 773,804 42,568 920,647
Total Contractual Services 1,082,631 14,876,117 482,165 16,440,913
Grandc Truck Center 571,205 3,709,734 - 4,280,939
Mid County Chrysler 225,701 69,730 42,181 337,612
1K Chevrolet 220,769 - - 220,769
Silsbee Ford - 535,045 29,315 564,360
Synergy NDS - 808,040 - 808,040
Other Capital I 3.2 n 3 1,202,904 141,271 1,467,378
Total Capital Outlay 1,140,878 6,325,453 212,767 7,679,098
City of Port Arthur 2018-2019 Budget
Monthly Report
December 31,2018
Emereena
Debris Response Equipment Vehldes Fadlitles Contents Other DAC At Risk Total
Revenues
FEMA/State 5 12,500,000 $ - $ • $ • $ • S - 5 4,815 $ - $ • $ 12,504,815
Insurance - 1,225,406 3,314,837 1,934,388 3,733,047 20,000 - - 10,227,678
Lease Proceeds - - 4,283,586 - - - - 4,283,586
Donations - - - - 38,106 - 38,106
12,500,000 - 1,225,406 7,598,423 1,934,388 3,733,047 62,921 - 27,054.185
Total $ 12,500,000 $ - $ 1,225,406 $ 7,598,423 $ 1,934,388 $ 3,733,047 $ 62,921 S - S - S 27,054,185
Expendture3
Personnel 2,911,380 1,573,527 4,484,907
Supplies&Materials - 915,833 915,833
Maintenance 372,312 674,060 571,454 827,715 178,239 2,623,780
Contractual Services 12,875,438 2,550,003 1,015,472 16,440,913
Capital Outlay 234,285 5,644,322 871,701 928,790 7,679,098
Total 12,875,438 2,911.380 606,598 6,318,382 1,443,155 2,672,338 2.728,242 1,015,472 1,573,527 32,144,531
Moues $ (375,438) $ (2,911,380) $ 618,808 $ 1,280,041 $ 491,233 $ 1,060,709 $(2,665,321) $ (1,015,472) $(1,573,527) $ (5,090,346)
Energy
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QUARTERLY INVESTMENT REPORT
FISCAL YEAR 2019
FOR FIRST QUARTER ENDED
DECEMBER, 2018
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www.PortArthurTx.gov
INTEROFFICE MEMORANDUM
Date: 1/29/2019
To: The Honorable Mayor and City Council
From: Andrew Vasquez, Director of Finance
RE: Quarterly Investment Report
I am please to submit to you the City of Port Arthur's Quarterly Investment Report for the
quarter ended December 31, 2018. This report presents the composition of investment pools
the Finance Department manages.
The balances in the cash pool and the investment pools have been restructured since the
beginning of the year to earn more interest. All investments are governed by state law and the
City's Investment Policy, which dictates the following investment objectives, in order of
priority:
1. Safety and preservation of principal
2. Maintenance of sufficient liquidity and meet operating needs
3. Public trust for prudent investment activities
4. Optimization of interest earnings on the portfolio
The interest earned has increased $134,385 over the prior quarter. A summary of the quarterly
cash and investment balances and the interest earned is presented below:
3/30/2018 6/30/2018 9/30/2018 12/31/2018
Bank Deposits
Book Value 42,954,932 16,377,039 13,098,958 12,884,025
Earned Interest 4,880 55,815 32,226 45,358
Local Government Investment Pools
Book Value 37,848,231 58,097,218 58,383,881 78,791,798
Earned Interest 62,092 248,987 286,663 407,917
Total Interest 66,972 304,802 318,890 453,275
"Remember,we are here to serve the Citizens of Port Arthur"
P.O.Box 1089 X Port Arthur,Texas 77641-1089 X 409.983.8101 X FAX 409.982.6743
City of Port Arthur, Texas
Investment Report
Portfolio Management Summary
For the Quarter Ended December 31, 2018
SUMMARY: Accrued Interest Average
%of Face Market Book Interest Earned Days to
Portfolio Yield Amount Value Value At Qtr End During Qtr Maturity
Portfolio At Beginning of Period(09/30/2018) 71.482.838.43 71,493,844.97 71,482,838.43
Bank Deposits 14.05% 1.4971% 12,884,024.83 12,896,054.61 12.884,024.83 12,029.78 45,357.85 1
Local Govt Investment Pools 85.95% 2.2292% 78,791,798.34 78,791,798.34 78,791,798.34 0.00 407,917.59 36
Agency Securities 0.00% 0.0000% 0.00 0.00 0.00 0.00 0.00 0
Total/Average at End of Period(12/31/2018) 100.00% 2.1263% 91.675.823.17 ;]1.687.852.98 91.675,823.17 12.029.78 453.275.44 ,}1
DETAIL: Accrued Interest Average
Buy Maturity Face Market Book Interest Earned Days to
Cusip Date Description Date Yield Amount Value Value At Qtr End During Qtr Maturity
BANK DEPOSITS
12/31/2018 Capital One Bank 01/01/2019 1.4971% 12.884,024.83 12,896.054.61 12,884,024.83 12.029.78 45,357.85 1
Total Bank Deposits 1.4971% 12,884,024.83 12 896 054.61 12.884,024.83 12,029.78 45,357.85 1
LOCAL GOVERNMENT INVESTMENT POOLS
12/31/2018 Texpool 01/01/2019 2.2113% 25,177.625.86 25,177.625.86 25,177,625.86 0.00 126,231.54 31
12/31/2018 Tex Star 01/01/2019 2.2287% 27,283,466.76 27,283,466.76 27,283,466.76 0.00 142,597.69 41
12/31/2018 Texas Class 01/01/2019 2.2467% 26.330,705.72 26,330,705.72 26,330,705.72 0.00 139,088.36 36
Total Local Government Investment Pool 2.2292% 78,791,798.34 78,791,798.34 78,791,798.34 0.00 407 917.59 36
AGENCY SECURITIES
0.0000% 0.00 0.00 0.00 0.00 0.00 0
Total Agency Securities 0.0000% 0.00 0.00 0.00 0.00 0.00 0
Total Portfolio(12/31/2018) 2.1263% 91,675.823.17 91.687,852.95 91.675.823.17 12,029.78 453,275.44 31
This report has been prepared in accordance with the law of the State of Texas and more specifically with the Public Funds
Investment Act(Section 2256, Government Code as amended) and in accordance with the City's investment strategy and
investment policy as approved by the Port Arthur City Council.
Prepared By:
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Kandy Daniel,A istant Finance Director
Reviewed By:
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Harold H nkins,Assistant Finance Director
nn Ly./.._......„Andre Vasquez, Director