HomeMy WebLinkAbout(1) September Monthly Budget Report FY20City of Port Arthur 2019 -2020 Budget
Monthly Report
September 30, 2020
Highlights:
Presented in this report are actual (unaudited) revenues and expenditures for fiscal year 2020, run as of
October 29, 2020. Final numbers may change after accruals, adjustments and all outstanding invoices for
year-end are paid.
General Fund
Overall the General Fund revenues for Fiscal Year 2020 total $76.6 million which is $3.2 million above
the budgeted amount. Property tax collections were above the budgeted level by 13% and industrial tax
revenue totaled $31 million. Sales tax received through September is 10% above last fiscal year and 12%
above the budgeted level and represents sales through July. Utility franchise fees, which are made up of
electric, gas, telephone and cable categories came in under budget by $365,000 and miscellaneous
revenue including interest earnings and land sales exceeded the estimates by $408,000.
General Fund expenditures currently total $73.6 million for fiscal year 2020.which is $5.7 million below
budget, leaving a healthy fund balance of $33.2 million. Actual expenditures may change after all
outstanding invoices for year-end are paid. There are currently 48 vacancies in the General Fund.
Water Fund
The Water Fund revenues for all sources total $27 million at the end of September which is below the
budgeted level by $2.1 million. Water service charges received from industry total $4.2 million which is
an $800,000 decrease from the previous year. Residential and commercial revenue also fall below the
expected amount by approximately $1.5 million.
Water Fund expenses currently total $29.2 million for fiscal year 2020 which is under the amended
budget by $300,000. However, expenses have exceeded revenues by $2.1 million for the year. There are
120 budgeted positions in the Water Fund with 13 vacancies.
Solid Waste Fund
Solid Waste revenues for FY2020 total $8.5 million at year end which is $220,000 below the estimated
level. A project which will bring additional revenues to the Landfill has been delayed until next fiscal
year.
Expenses for Solid Waste total $10 million for the fiscal year which is over the amended budget by
approximately $484,000 and primarily related to unanticipated costs at the Landfill. A decline in revenue
and the overage in expenses created a net shortfall (expense over revenue) of $1.5 million by year end.
There are 48 budgeted positions in Solid Waste this fiscal year with 4 vacancies.
Pleasure Island Fund
Pleasure Island revenues of $1.3 million exceed the previous year by $400,000 and is primarily due to
increased RV park rentals. Expenses for the year total $1.2 million which is in line with the budgeted
level. The year end result is positive with revenues exceeding expenses by$164,000.