Audit and Finance Committee

REGULAR MEETING OF THE AUDIT AND FINANCE COMMITTEE DATE: MONDAY, NOVEMBER 4, 2019 – 5:30 p.m. to 6 p.m. MEETING TO BE HELD AT THE JUSTICE CENTER 200 HIGHLANDS BOULEVARD DRIVE 2nd floor AGENDA 1. Call to Order: 2. Roll Call and Statement of Quorum 3. Establishment of Order of Items on the Agenda A. Approval of the August 5, 2019 Minutes B. Review Nine Month Financial Report (Previously mailed) C. Update on Tax Increment and Transportation Refunding Revenue Bonds (Highway 141/Manchester Road Project), Series 2019. D. Schedule future meeting 4. Adjournment The plan is to review the nine month financial report and adjourn at 6:00 pm and participate in the 2020 Budget Review process from 6 pm to 7 pm.  MINUTES OF THE AUDIT AND FINANCE COMMITTEE MEETING FOR MONDAY, AUGUST 5, 2019 AT THE JUSTICE CENTER 200 HIGHLANDS BOULEVARD DRIVE 1. CALL TO ORDER Chairman Bill Ward called the Audit and Finance Committee meeting to order at 5:31 pm. 2. ROLL CALL AND STATEMENT OF QUORUM Roll call showed those present were Peter Bitzer, Juli K. Van Hook, Alderman Baumann, Alderman Toben and Chairman Bill Ward. A quorum was present. Also in attendance were Ex-officio members Mayor Clement and City Administrator Larry Perney, Alderman Huether, and support staff Director of Finance Donald Yucuis. 3. ESTABLISHMENT OF ORDER OF ITEMS ON THE AGENDA Chairman Ward made the motion to approve the order of items on the agenda. The motion was seconded by Alderman Baumann and approved unanimously. A. Chairman Ward made a motion to approve the June 10, 2019 Audit & Finance Committee meeting Minutes, seconded by Peter Bitzer and approved unanimously. B. Director of Finance Yucuis and City Administrator Larry Perney presented and reviewed the 2019 six month report through June 30, 2019. General Fund is the main operating fund of the City and six months revenue was 55.5% of budget and expenses were 49.4% of budget which are both positive indicators. A summary of the other eight funds were presented and discussed with the Committee and all were in line with their budgets. C. A draft Internal Controls Policy was presented by Director of Finance Yucuis and discussed with the Committee. The policies were part of the 2018 audit and submitted to Stop and Vanhoy on May 3, 2019 for review. The Committee was instructed to get back with Director of Finance Yucuis with any suggested changes within two weeks. The Internal Control Policy would then become part of the September 3, 2019 Board of Alderman Agenda for formal action and approval. D. The Investment Report holdings with UMB Bank at July 31, 2019 for the Tax Increment Financing (TIF) Fund Reserve was presented and reviewed. The upcoming TIF re-financing may require the reserve to be 100% liquid. After discussion, Chairman Ward made a motion, seconded by Alderman Toben to request that Commerce Bank liquidate investments with Page 1  maturities past September 30, 2023 (listed as items 11 through 18. Motion carried unanimously by individual voice vote. E. City Administrator Perney updated the Committee on the status of the TIF Refunding and stated it was moving forward fairly quickly with Joy Howard soliciting a Request for Proposal to refund the bonds. F. The next meeting is scheduled for Monday October 7, 2019 at 5:30 pm at the Justice Center 200 Highlands Boulevard. 4. ADJOURNMENT At 6:45 p.m., there being no further business, Peter Bitzer made a motion to adjourn, seconded by Chairman Ward and approved unanimously. Respectfully submitted, Donald J. Yucuis Director of Finance Note: This is a journal of the Audit and Finance Committee meeting of Monday, August 5, 2019 (summary); not a verbatim transcript. Page 2 Memo To: Mayor and Board of Aldermen From: Donald Yucuis, Director of Finance CC: Lawrence Perney, City Administrator, Senior Staff, Audit and Finance Committee Date: October 18, 2019 Re: 2019 Financial Report – Nine Months through September 30, 2019 I am providing the 2019 nine month financial report for All Funds for the period ending September 30, 2019. The charts below include a column for each of the bullets listed and a row for fund balance: • The Year to Date (YTD) Activity for the nine months ended September 30, 2018, • the 2019 Budget, • the Year to Date (YTD) Activity for the nine months ended September 30, 2019, • the 2019 Budget less YTD Activity, • the 2019 % YTD Activity Rec’d or Spent to Budget, and • Projected to Year end • Included at the end of each Fund is the beginning and ending fund balance GENERAL FUND (GF) - Overall, FY 2019 nine month revenues totaled $7,962,645 and expenses totaled $7,729,980 or a $232,665 surplus before transfers in/out and a $298,940 surplus after transfer in of $375,000 from Capital Projects Fund and transfer out of $308,725 to the Tax Increment Financing District. 2019 revenues totaled $7,962,645 or 80.1% of budget and higher than the basic 75% at the end of the first nine months, so again good news. 2019 revenue is approximately $150,000 more than 2018 for the same nine month time period. The $150,000 difference from year to year revenue is mainly due to: • slightly lower Taxes revenue -$73,000, o electric (rate decrease this year) and telephone gross receipts are lower by 147,000 • more Inter-governmental revenue +$49,000 mainly from grants, • more Licenses and Permits revenue +$142,000, • more Municipal Court revenue +$35,000, and • all other revenue line items showed a net decrease of $3,000. 2019 expenses totaled $7,729,980 or 78% of budget and approximately $809,000 more than 2018. The $809,000 increase in 2019 compared to 2018 is due directly to: • the retirement payouts of $44,313 to former Police Chief, $31,000 to former Parks Aquatics Director and $11,500 to the former Finance Accountant; • overall increased wages and benefit costs including the new 2% retirement contribution; • additional attorney billings for court cases; • the new Assistant Public Works Director position; Page 1 2019 Nine Month Financial Report at September 30, 2019  • un-budgeted Parks expenditures related to purchasing replacement items for the damage from the vandalism/fire to the trailer, • the two new part-time staff in Finance; and • increased workers compensation insurance premium costs. The 2019 net Transfers in/out totaled 66,275 and includes $375,000 transfer from Capital Projects Fund and $308,725 to TIF Fund which is for the 25% of TIF Property Tax revenue received in the first nine months. 2018 Transfer in totaled $0 and Transfers out net totaled $421,866. This included two transfers, (1) $352,000 for the 25% of TIF Property Tax revenue received in the first nine months and a transfer out of $69,700 to set up a separate Special Accounts Fund for Asset Forfeiture. The General Fund detail of 2019 and 2018 through September 30, 2019 is itemized below for comparison purposes and includes the projected to year end and difference between projected and 2019 budget. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 10 - GENERAL FUND Revenue 510 - Taxes 1Cent Sales Tax 3,150,648 4,000,000 3,123,280 876,720 78.1% 3,980,000 (20,000) 1/4 Cent Sales Tax 633,018 800,000 634,329 165,671 79.3% 805,000 5,000 Prop P Sales Tax 736,719 925,000 764,960 160,040 82.7% 990,000 65,000 Ameren UE- Gross Receipts 632,345 730,000 530,430 199,570 72.7% 665,000 (65,000) Laclede Gas - Gross Receipts 231,531 280,000 232,743 47,257 83.1% 295,000 15,000 Southwestern Bell - Gross Receipts 202,714 260,000 157,635 102,365 60.6% 260,000 - Missouri-American Water - Gross Receipts 104,663 140,000 120,212 19,788 85.9% 170,000 30,000 Charter Cable - Gross Receipts 177,510 225,000 171,005 53,995 76.0% 205,000 (20,000) Property Taxes 21,505 140,000 70,458 69,542 50.3% 140,000 - Railroad/Utility Tax 10,024 20,500 22,605 (2,105) 110.3% 22,600 2,100 510 - Taxes Total: 5,900,675 7,520,500 5,827,659 1,692,841 77.5% 7,532,600 12,100 520 - Inter-governmental Gasoline Tax 357,561 480,000 363,156 116,844 75.7% 490,000 10,000 Vehicle Sales Tax 125,944 165,000 122,141 42,859 74.0% 160,000 (5,000) Vehicle Fee Increases 63,190 80,000 62,362 17,638 78.0% 83,000 3,000 Cigarette Tax 30,514 40,000 28,283 11,717 70.7% 38,000 (2,000) Road & Bridge Tax 163,949 335,000 158,983 176,017 47.5% 360,000 25,000 Grants/Reimbursements 78,525 125,000 133,883 -8,883 107.1% 145,000 20,000 520 - Inter-governmental Total: 819,681 1,225,000 868,808 356,192 70.9% 1,276,000 51,000 - 530 - Licenses & Permits 373,926 471,950 516,389 -44,439 109.4% 538,780 66,830 540 - Municipal Court 184,824 230,000 223,098 6,902 97.0% 265,000 35,000 550 - Investments 18,178 41,800 17,008 24,792 40.7% 36,000 (5,800) 560 - Aquatic Center 265,366 275,000 252,329 22,671 91.8% 252,300 (22,700) 561 - Park Services 95,414 90,000 128,185 -38,185 142.4% 132,350 42,350 562 - Manchester Arts 1,667 3,924 690 3,234 17.6% 3,660 (264) 570 - Miscellanous 153,668 48,000 128,479 -80,479 267.7% 125,100 77,100 530 thru 570 Totals 1,093,044 1,160,674 1,266,178 -105,504 1,353,190 192,516 - General Fund Revenue Total: 7,813,400 9,906,174 7,962,645 1,943,529 80.1% 10,161,790 255,616 Page 2 2019 Nine Month Financial Report at September 30, 2019  YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Budget vs. through Current 2019 through Budget less to Projected to Projected to Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Year End Expense 410 - Mayor & Board 44,019 63,625 41,643 21,982 65.5% 62,163 1,462 420 - Administration 476,888 619,964 538,208 81,756 86.8% 654,885 (34,921) 425 - MIS 198,137 282,050 239,128 42,922 84.8% 280,270 1,780 430 - Finance 474,874 622,656 605,011 17,645 97.2% 671,518 (48,862) 440 - Police 2,618,991 3,986,275 2,878,760 1,107,515 72.2% 3,710,812 275,463 450 - Aquatic Center 270,226 347,600 313,196 34,404 90.1% 330,214 17,386 460 - Park 653,851 911,347 788,334 123,013 86.5% 940,385 (29,038) 470 - Public Works 1,788,652 2,470,955 1,901,159 569,796 76.9% 2,487,725 (16,770) 475 - Planning & Zoning 211,073 319,032 227,376 91,656 71.3% 300,760 18,272 480 - Legal 168,506 254,155 185,830 68,325 73.1% 241,549 12,606 485 - Manchester Arts 15,158 28,515 11,336 17,179 39.8% 17,295 11,220 General Fund Expense Total: 6,920,376 9,906,174 7,729,980 2,176,194 78.0% 9,697,576 208,598 600 - Operating Transfers in - 500,000 375,000 125,000 75.0% 500,000 600 - Operating Transfers out 421,866 370,000 308,725 61,275 83.4% 370,000 Net Transfers in/ out (421,866) 130,000 66,275 130,000 Fund: 10 - GENERAL FUND Revenues less (Expenses) and Transfers 471,159 130,000 298,940 594,214 Beginning Fund Balance January 1 2,468,618 2,958,005 2,958,005 2,958,005 Ending Fund Balance September 30 2,939,777 3,088,005 3,256,945 3,552,219 General Fund YEAR END PROJECTIONS: Staff is projecting that revenues, expenses and net transfers to year end are as follows: Current 2019 Projected to Year Projected vs. Category/ Description Total Budget End Budget General Fund Revenue Total: 9,906,174 10,161,790 255,616 General Fund Expense Total: 9,906,174 9,697,576 (208,598) Net Transfers in/ out 130,000 130,000 - Fund: 10 - GENERAL FUND Revenues less (Expenses) and Transfers 130,000 594,214 464,214 Beginning Fund Balance 2,958,005 2,958,005 Ending Fund Balance 3,088,005 3,552,219 Revenues to year end are projected to be 10,161,790 or $255,616 more than the 2019 budget and expenses totaling $9,697,576 or $208,598 less than budget. The net change in fund balance is projected to be an increase of $594,214 versus the budgeted increase of $130,000. Page 3 2019 Nine Month Financial Report at September 30, 2019 Debt Service Fund accounts for the 2019 General Obligation (GO) Bond (Prop S Bonds for streets) property tax revenue levied to pay the principal and interest payments on the bonds as they come due. The 2018 revenue and expenses reflect property tax received and expenses to pay off the 2012 General Obligation Bonds. The 2019 expenses are for the 2019 GO bonds. Additional property tax revenue will be received in the last quarter when the 2019 tax bills are issued by St. Louis County. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 20 - DEBT SERVICE FUND Revenue Personal Property Taxes 85,917 1,054,632 449,180 605,452 42.6% 1,054,632 Investment Income 3,617 Revenue Total: 89,533 1,054,632 449,180 605,452 42.6% 1,054,632 - Expense Professional Fees 809 4,100 1,500 2,600 36.6% 4,100 Principal Payment 570,000 585,000 585,000 0 100.0% 585,000 Interest Payment 5,700 324,733 324,736 -3 100.0% 324,733 Expense Total: 576,509 913,833 911,236 2,597 99.7% 913,833 - Revenue less (Expenses) (486,976) 140,799 (462,056) 140,799 Beginning Fund Balance January 1 508,127 863,513 863,513 863,513 Ending Fund Balance September 30 21,151 1,004,312 401,457 1,004,312 Tax Increment Financing Fund 2019 Revenues exceeded expenses by $2,235,315. 2019 revenues including transfer in from the General Fund totaled $6,034,503 or 88% of budget and approximately $152,018 more than the same time period in 2018. 2019 expenses total $3,799,188 or 55% of budget. 2019 debt service payments of $3,440,540 included mandatory principal of $2,280,000 and interest of $1,160,540. Fund balance at 9-30-2019 is high but a debt service payment on November 1, 2019 totaling $3,298,392 is scheduled. Projected revenues and expenditures are $35,000 and $166,700 under budget, respectively. A budget amendment will be needed if the TIF Refinancing is approved. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 30 - TAX INCREMENT FINANCING (TIF) FUND Revenue 1Cent Sales Tax 997,078 1,256,000 1,023,576 232,424 81.5% 1/2 Cent Transportation Sales Tax 476,931 606,000 511,790 94,210 84.5% 1/4 Cent Sales Tax 238,170 303,000 255,895 47,105 84.5% Metro Tax 58,731 74,000 60,224 13,776 81.4% ECC Tax 60,559 76,000 62,052 13,948 81.6% CSF Tax 242,741 307,000 260,466 46,534 84.8% Property Taxes 1,341,435 1,250,000 1,234,900 15,100 98.8% Pool,Park,Storm Water Sales Tax 561,504 570,000 519,303 50,697 91.1% TDD EATS 1,109,335 1,067,000 1,134,056 -67,056 106.3% Capital Improvement Tax 428,780 561,000 519,303 41,697 92.6% TIF/TDD Transfer - 350,000 - 350,000 0.0% Interest Income 15,064 65,000 144,212 -79,212 221.9% Total revenues 5,530,329 6,485,000 5,725,778 759,222 6,450,000 (35,000) Transfer in 352,156 360,000 308,725 51,275 85.8% 360,000 - Total revenues and transfer in 5,882,485 6,845,000 6,034,503 810,497 88.2% 6,810,000 (35,000) Expense TIF Expenses TIF Bond Redemption 2,145,000 4,000,000 2,280,000 1,720,000 57.0% 4,100,000 (100,000) TIF Bond Interest 1,278,641 2,515,000 1,160,540 1,354,460 46.1% 2,248,300 266,700 Tax Increment Financing - PILOTS 401,382 360,000 347,946 -347,946 96.7% 360,000 - Professional Fees 6,352 19,660 10,702 8,958 54.4% 19,660 - Expense Total: 3,831,375 6,894,660 3,799,188 3,095,472 55.1% 6,727,960 166,700 Fund: 30 - TAX INCREMENT FINANCING (TIF) FUND Revenue less (Expenses) and Transfers 2,051,110 (49,660) 2,235,315 82,040 Beginning Fund Balance January 1 8,535,795 8,396,562 8,396,562 8,396,562 Ending Fund Balance September 30 10,586,905 8,346,902 10,631,877 8,478,602 Page 4 2019 Nine Month Financial Report at September 30, 2019 Capital Projects Fund 2019 Revenues exceeded expenses and transfer out by $1,033,466. 2019 Revenue through nine months totaled $1,719,401 or 84% of budget and $406,492 more than 2018 and almost all due to more one-time grant revenue in 2019 than 2018. 2019 Expenses through nine months totaled $310,935 or 21% of budget. Projects in Progress: • 3 - Police Vehicles/equipment ordered, $120,000. • Bridge Repair/Replacement: Spring Meadows Bridge is finishing up; Lindy Blvd. Bridge Deck is moving to construction and Howard George Bridge is deferred until 2020. • Building & Site Improvements: Storage Building Fabric Cover-$25,000-in progress; City Hall Exterior Balcony-$125,000 bid documents being prepared; and Police Facility-$25,000 will be later in the last quarter. • Street Improvements: Concrete Streets-$100,000 is being spent as needed; Dougherty Ferry- $70,000-design is in progress; Right of way Trees-$40,000 on-going throughout the year; and GIS mapping-$5,000 has been spent. • Concrete Sidewalks will be done throughout the year-$200,000. • Machinery and Equipment-$217,000: Medium Dump-$135,000 will be purchased; Concrete Saws purchased-$54,000; Fleet Software-30,000 is on hold. • Street Light Installation of $37,500 was completed in 2018. • Transfer out-$500,000 is to General Fund and 75% or $375,000 has been transferred. YTD Activity YTD Activity % Nine Months Nine Months 2019 YTD Activity through Current 2019 through Budget less to Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Fund: 50 - CAPITAL IMPROVEMENT FUND Revenue 1/2 Cent Sales Tax 1,146,497 1,550,000 1,188,545 361,455 76.7% 1,580,000 30,000 Grants/Reimbursements 150,412 462,000 520,713 -58,713 112.7% 465,441 3,441 Investment Income - 82 -82 0.0% Sale of Equipment - 10,060 -10,060 0.0% Miscellaneous 16,000 35,000 - 35,000 0.0% (35,000) Transfer in - - 0 0.0% Revenue Total: 1,312,909 2,047,000 1,719,401 327,599 84.0% 2,045,441 (1,559) Expense MIS Equipment/ Software 24,892 25,542 15,292 10,250 59.9% 23,292 (2,250) Police Vehicles and Equipment 58,769 120,000 - 120,000 0.0% 116,431 (3,569) Public Works Staff Time 55,646 13,670 -13,670 0.0% Professional Fees 160,268 - 588 -588 0.0% Capital Improvement - - 773 -773 0.0% Bridge Repair/Replacement - 508,000 107,178 400,822 21.1% Building & Site Improvements 106,449 175,000 25,066 149,934 14.3% Concrete Street Replacement 18,029 215,000 45,250 169,750 21.0% Concrete Sidewalk Replacement 280 200,000 37,858 162,142 18.9% Machinery and Equipment 11,443 217,000 62,889 154,111 29.0% Vehicles 24,869 30,000 2,371 27,629 7.9% Street Light Installation or Repair 11,609 37,500 - 37,500 0.0% 709,737 (672,763) Expense Total: 472,253 1,528,042 310,935 1,217,107 21.4% 849,460 (678,582) Transfer out - 500,000 375,000 125,000 75.0% 500,000 - Revenue less (Expenses) and Transfers 840,656 18,958 1,033,466 695,981 Beginning Fund Balance January 1 38,076 (15,528) (15,528) (15,528) Ending Fund Balance September 30 878,732 3,430 1,017,938 680,453 Page 5 2019 Nine Month Financial Report at September 30, 2019 Parks and Storm Water Fund 2019 Revenues exceeded expenses by $1,113,137. 2019 Revenue for the nine months totaled $1,398,386 or 60% of budget and $103,849 more than 2018. The $700,000 in grants/reimbursement is from MSD, related to the Chadwick Brookvale project and is deferred until 2020. 2019 Expenses for the nine months totaled $285,249 or 6.9% of budget. Projects in Progress: Aquatic Center: • Building and site improvements- budget of $96,650-Pool Pumps and Pipes-expensed $39,066 to date and work is still in progress. • Furniture, Fixtures-budget of $13,052-expensed $5,180 to date and purchases are in progress. • Machinery and Equipment-budget of $10,000- expensed $4,250 to date and purchases are in progress. Parks: • Building and Site Improvements-budget of $247,500, expensed $23,765 to date, Schroeder Park Asphalt Seal/Overlay $175,000 budget and expect to send 139,000l, all other line items are or will be in progress. • Machinery and Equipment-budget of $36,150 and $53,087 spent to date and includes $41,000 for a generator which was planned to be spent in 2018 but was not. The mower and Bobcat have been purchased totaling $12,000. Staff will meet soon to evaluate the 2019 Budget to see if other budgeted line items can be moved to cover the Generator expenses or a budget amendment may be needed. • Vehicles- light duty dump truck-$70,000 will be purchased; and utility vehicle-$14,000 budget was purchased for $13,562. Public Works • storm water projects-budget of $3,637,000: Pontoison Dr.-$120,000 out to bid; Channel J- $230,000 and Chadwick Brookvale-$3,000,000 budget and bids came in at $1,533,900 to be started in 2019 and finished in 2020; storm inlets-$125,000 and Cloverleaf Lane-both in design. The projected actual to yearend is $834,835 as the Chadwick Brookvale project bids were significantly underbudget and the project will be spread out over 2019 and 2020. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 60 - PARKS & STORM WATER PROJECTS FUND Revenue Pool,Park,Storm Water Sales Tax 1,294,537 1,625,000 1,398,289 226,711 86.0% 1,750,000 125,000 Investment Income - 97 -97 0.0% - Grants/Reimbursements 700,000 - 700,000 0.0% - (700,000) Revenue Total: 1,294,537 2,325,000 1,398,386 926,615 60.1% 1,750,000 (575,000) Expense 450 - Aquatic Center Building & Site Improvements 103,423 96,650 39,066 57,584 40.4% Furniture, Fixtures, & Office Equip. - 13,052 5,180 7,872 39.7% Machinery and Equipment - 10,000 4,250 5,750 42.5% 450 - Aquatic Center Total: 103,423 119,702 48,496 71,206 40.5% 79,931 (39,771) 460 - Park Parks Staff Time - - 1,535 -1,535 0.0% Capital Improvement 159,270 Building & Site Improvements 6,000 247,500 23,765 223,735 9.6% Furniture, Fixtures, & Office Equip. 385 - 3,289 -3,289 0.0% Machinery and Equipment 3,018 36,150 53,087 -16,937 146.9% Vehicles 84,000 13,562 70,438 16.1% 460 - Park Total: 168,673 367,650 95,239 272,411 25.9% 254,302 (113,348) 470 - Public Works Storm Water Projects 381,705 3,637,000 141,514 3,495,486 3.9% 834,835 (2,802,165) Expense Total: 653,802 4,124,352 285,249 3,839,103 6.9% 1,169,068 (2,955,284) Fund: 60 - PARKS & STORM WATER PROJECTS FUND Revenue less (Expenses) and Transfers 640,735 (1,799,352) 1,113,137 580,932 Beginning Fund Balance January 1 1,964,804 1,869,074 1,869,074 1,869,074 Ending Fund Balance September 30 2,605,539 69,722 2,982,211 2,450,006 Page 6 2019 Nine Month Financial Report at September 30, 2019 Sanitary Sewer Repair Fund 2019 Expenses exceeded revenues by $116,073. 2019 Revenue for the nine months totaled $92,310 or 46% of budget. Additional sewer lateral fees will be collected with the property bill issued by St. Louis County. 2019 Expenses for the nine months totaled $208,383 or 80% of budget and $119,162 more than 2018. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 70 - SANITARY SEWER REPAIR FUND Revenue Revenue Sewer Lateral Fee 49,220 167,000 49,652 117,348 29.7% 167,000 - Sewer Lateral Fee/Resident 21,200 35,000 42,658 -7,658 121.9% 44,000 9,000 Revenue Total: 70,420 202,000 92,310 109,690 45.7% 211,000 9,000 Expense 470 - Public Works Public Works Staff Time 63,200 80,290 72,372 7,918 90.1% 92,775 12,485 Capital Improvement 77,928 180,000 136,011 43,989 75.6% 180,000 - 470 - Public Works Expense Total: 141,128 260,290 208,383 51,907 80.1% 272,775 12,485 Fund 70 - SANITARY SEWER REPAIR FUND Revenue less (Exp (70,708) (58,290) (116,073) (61,775) Beginning Fund Balance January 1 177,984 190,196 190,196 190,196 Ending Fund Balance September 30 107,276 131,906 74,123 128,421 Prop S Capital Fund 2019 Revenue budget is from investment income. 2019 Expense budget is $3,592,680 and $3,106,721 or 86% has been spent to date. Concrete Streets are the main component of the budgeted expenses and are in progress. The projected to year end expenses of $4,345,500 are $752,820 over budget due to finishing the 2018 projects in 2019. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 80 - PROP S-CAPITAL IMPROVEMENTS Revenue Interest Income 14 - 351 -351 0.0% Investment Income 16,073 150,000 110,671 39,329 73.8% Proceeds from General Obligation Bond Issue 9,000,000 Other Financing Sources -Bond Premium 234,894 Revenue Total: 9,250,982 150,000 111,022 38,978 74.0% 150,000 - Expense Public Works Staff Time 87,680 78,426 9,254 89.4% Professional Fees 179,893 255,000 43,426 211,574 17.0% Concrete Streets 1,639 3,250,000 2,984,869 265,131 91.8% Expense Total: 181,531 3,592,680 3,106,721 485,959 86.5% 4,345,500 752,820 Fund 80 - PROP S-CAPITAL IMPROVEMENTS Revenue less (Ex 9,069,450 (3,442,680) (2,995,699) (4,195,500) Beginning Fund Balance January 1 - 8,443,028 8,443,028 8,443,028 Ending Fund Balance September 30 9,069,450 5,000,348 5,447,329 4,247,528 Page 7 2019 Nine Month Financial Report at September 30, 2019 Homecoming Fund revenue and expenses are close to being complete. Expenses exceeded revenues by $2,506. The budgeted transfer of $10,000 from General Fund will be made in the last quarter. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 65 - HOMECOMING FUND Revenue 565 - Homecoming Homecoming Booths 3,463 - 6,400 -6,400 0.0% Homecoming Donation 500 500 250 250 50.0% Homecoming Sponsorships 3,000 - 3,800 -3,800 0.0% Homecoming Soda Sales 905 - 2,432 -2,432 0.0% Homecoming Committee Booth/Raffle 1,494 - 2,186 -2,186 0.0% Homecoming - Ice Sales 69 - 105 -105 0.0% Homeconing Cute Kid/Pet Contest 441 - 532 -532 0.0% Homecoming - Doggie Paddle 1,636 - 1,840 -1,840 0.0% Homecoming - Luehrs Rides 6,886 - 12,088 -12,088 0.0% Homecoming - Car Show - 1,026 -1,026 0.0% Homecoming Legion Beer Booth 1,772 Homecoming Fees - 7,000 (950) 7,950 -13.6% Miscellaneous 22,500 - 22,500 0.0% 565 - Homecoming Revenue Total: 20,166 30,000 29,709 291 99.0% 34,650 4,650 Expense 465 - Homecoming Salaries 1,258 1,500 1,445 55 96.3% Overtime Salaries 11,248 14,750 10,524 4,226 71.4% Payroll Tax 91 1,250 963 287 77.1% Retirement Contribution - - 162 -162 0.0% Uniforms & Equipment 191 150 234 -84 156.0% Professional Fees 10,823 11,910 10,019 1,891 84.1% Public Relations 4,091 4,150 2,237 1,913 53.9% Business Lunch/Dinner 970 830 616 214 74.2% Newspaper Notices - 950 928 23 97.6% Program Supplies 703 950 665 285 70.0% Office Supplies 65 50 - 50 0.0% Field Supplies 115 600 594 6 99.1% Equipment Rental 4,776 5,150 3,379 1,771 65.6% Equipment - Maintenance & Repair - 600 - 600 0.0% 465 - Homecoming Expense Total: 34,331 42,840 31,765 11,075 74.1% 35,597 (7,243) 600 - Operating Transfers in 10,000 - 10,000 0.0% 10,000 - Fund: 65 - HOMECOMING FUND Revenue less (Expenses) and (14,166) (2,840) (2,056) 9,053 Beginning Fund Balance January 1 23,335 9,863 9,863 9,863 Ending Fund Balance September 30 9,169 7,023 7,807 18,916 Special Accounts Fund is a new separate Fund in 2018 per requirements of the US Department of Justice to account for Asset Forfeiture revenues and expenses. Expenses in 2019 were for tourniquets and two bicycles. YTD Activity YTD Activity % Difference Nine Months Nine Months 2019 YTD Activity Projected to through Current 2019 through Budget less to Projected to Year End vs. Fund Category/ Description 9-30-2018 Total Budget 9-30-2019 YTD Activity 2019 Budget Year End Budget Fund: 40 - SPECIAL ACCOUNTS Revenue DOJ-Asset Forfeiture Revenue 3,755 Expense Treasury-Asset Forfeiture Expense 16,432 - DOJ-Asset Forfeiture Expense 40,334 3,563 (3,563) 3,563 - Expense Total: 56,766 3,563 (3,563) 3,563 - Fund 40 - SPECIAL ACCOUNTS Revenue less (Expenses) (53,011) (3,563) (3,563) Beginning Fund Balance January 1 69,709 16,698 16,698 16,698 Ending Fund Balance September 30 16,698 16,698 13,135 13,135 Page 8 2019 Nine Month Financial Report at September 30, 2019