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Home My WebLink AboutAgenda- 11-13-2018 12-3 - Information Item - Memorandum - FY2018-19 First Quarter Financial Report FINANCE and ADMINISTRATIVE SERVICES Gary Donaldson, CTP, Chief Financial Officer | gdonaldson@orangecountync.gov | 200 S. Cameron Street, Hillsborough, NC 27278 | 919.245.2453 MEMORANDUM To: Board of County Commissioners From: Gary Donaldson, Chief Financial Officer Date: November 13, 2018 Re: FY2018-19 First Quarter Financial Report _____________________________________________________________________________________ The Department of Finance and Administrative Services quarterly financial report has been revised; the report format includes all County operating funds and is one recommended by the Local Government Commission staff as well. We are reviewing any major timing or performance variances and will provide additional updates as needed. cc: Bonnie Hammersley, County Manager Enclosures 1 Original Budget Revised Budget YTD Actual*Percentage Original Budget Revised Budget YTD Actual*Percentage YTD Property Tax $158,561,382 $158,561,382 $23,096,306 14.57%$151,557,768 $151,557,768 $19,440,277 12.83%$3,656,030 1.74%1 Sales & Use Tax $24,140,242 $24,140,242 $0 0.00%$23,566,784 $23,566,784 $0 0.00%$0 0.00% Licenses and Permits $313,000 $313,000 $478 0.15%$328,000 $328,000 $573 0.17%-$95 -0.02% Charges for Services $12,456,495 $12,456,495 $2,122,415 17.04%$11,551,045 $11,475,323 $2,493,435 21.73%-$371,020 -4.69%2 Intergovernmental $17,296,375 $17,394,701 $1,533,742 8.82%$16,035,147 $16,854,603 $1,352,500 8.02%$181,241 0.79% Transfers In $1,637,600 $1,637,600 $0 0.00%$3,765,600 $3,765,600 $0 0.00%$0 0.00% Investment Earnings $415,000 $415,000 $165,355 39.84%$265,000 $265,000 $101,794 38.41%$63,561 1.43%3 Miscellaneous $3,114,760 $3,176,920 $154,808 4.87%$2,817,629 $2,966,788 $229,469 7.73%-$74,662 -2.86% Appropriated Fund Balance $8,820,099 $8,820,099 $0 0.00%$9,769,060 $9,769,060 $0 0.00%$0 0.00% Total $226,754,953 $226,915,439 $27,073,104 11.93%$219,656,033 $220,548,926 $23,618,049 10.71%$3,455,055 1.22% Community Services $13,159,487 $13,200,850 $2,807,628 21.27%$14,331,974 $14,354,827 $3,155,235 21.98%-$347,606 -0.71% General Government $9,891,337 $9,891,337 $3,297,130 33.33%$9,954,091 $9,954,091 $3,245,846 32.61%$51,284 0.73% Public Safety $25,318,777 $25,306,277 $5,164,425 20.41%$25,583,899 $25,586,399 $5,270,461 20.60%-$106,036 -0.19% Human Services $39,202,652 $39,320,703 $8,999,005 22.89%$37,508,468 $38,179,508 $8,151,624 21.35%$847,382 1.54%4 Education $92,246,242 $92,246,242 $21,421,953 23.22%$89,916,598 $89,916,598 $21,640,900 24.07%-$218,946 -0.85% Support Services $13,182,883 $13,182,883 $3,803,650 28.85%$14,101,197 $14,101,197 $3,354,125 23.79%$449,525 5.07%4 Debt Service $29,948,241 $29,948,241 $10,107,390 33.75%$26,759,536 $26,759,536 $9,135,117 34.14%$972,273 -0.39% Transfers Out $3,805,334 $3,818,906 $0 0.00%$1,500,270 $1,696,770 $0 0.00%$0 0.00% Total $226,754,953 $226,915,439 $55,601,182 24.50%$219,656,033 $220,548,926 $53,953,307 24.46%$1,647,875 0.04% 2 - Fee collections at Register of Deeds, Health Department, Sheriff, and Emergency Services down from FY 2017-18. 3 - Investment earnings are up from FY 2017-18 due to timely investment of funds in higher interest rate environments. 4 - Finance Department is reviewing material variances with affected departments. Notes: FY 2018-19 Revenue Expenditure FY 2017-18 % Variance + FY 2018-19 vs FY 2017-18 * - Actual amounts include Encumbrances. + - Based on percentage not dollars. 1 - Increases in property tax and intergovernmental revenues are attributed to timing of payment receipt. Department of Finance and Administrative Services General Fund | Revenue and Expenditure FY 2018-19 | First Quarter Report 2 Original Budget Revised Budget YTD Actual*Percentage YTD Actual*Percentage YTD 29 - Annual Grants Project Fund $137,043 $137,043 $28,066 20.5%$13,882 10.2%$14,184 10.25% 30 - Multi-Year Grant Projects Fund $150,000 $233,001 $126,459 54.3%$1,439 0.0%$125,020 54.24% 32 - Multi-Year Community Development Fund $905,330 $1,064,284 $19,997 1.9%$73,327 2.0%-$53,329 -0.14% 33 - Housing Fund $4,465,509 $4,492,652 $1,177,698 26.2%$1,147,773 25.7%$29,925 0.56% 35 - Emergency Telephone Fund $919,145 $919,145 $53,977 5.9%$100,722 13.4%-$46,745 -7.50% 37 - Visitor's Bureau Fund $1,882,761 $1,886,685 $393,166 20.8%$231,613 14.2%$161,553 6.68% 38 - Spay/Neuter Fund $68,350 $68,350 $9,615 14.1%$29,699 48.8%-$20,085 -34.74% 50 - Solid Waste Enterprise Fund $10,040,421 $10,040,421 $1,645,524 16.4%$1,934,439 14.7%-$288,915 1.66% 51 - Efland Sewer Operating Fund $156,750 $156,750 $50,618 32.3%$59,098 16.4%-$8,480 15.85%1 53 - Sportsplex Fund $3,884,471 $3,884,471 $804,481 20.7%$849,621 23.8%-$45,140 -3.08% 70 - Employee Health & Dental Fund $17,897,029 $17,897,029 $2,686,183 15.0%$849,621 23.8%$1,836,561 -8.79% 29 - Annual Grants Project Fund $137,043 $137,043 $47,371 34.6%$59,423 43.8%-$12,052 -9.23% 30 - Multi-Year Grant Projects Fund $160,750 $233,001 $94,147 40.4%$110,196 1.9%-$16,048 38.47% 32 - Multi-Year Community Development Fund $947,659 $1,064,284 $137,432 12.9%$429,409 10.3%-$291,977 2.59% 33 - Housing Fund $4,465,509 $4,492,652 $1,108,355 24.7%$1,147,212 25.6%-$38,857 -0.98% 35 - Emergency Telephone Fund $919,145 $919,145 $123,584 13.4%$61,257 8.1%$62,327 5.32%2 37 - Visitor's Bureau Fund $1,882,761 $1,886,685 $871,683 46.2%$428,235 26.2%$443,448 20.02% 38 - Spay/Neuter Fund $68,350 $68,350 $3,222 4.7%$4,555 7.5%-$1,334 -2.77% 50 - Solid Waste Enterprise Fund $10,040,421 $10,040,421 $3,581,917 35.7%$4,485,269 34.2%-$903,352 1.52% 51 - Efland Sewer Operating Fund $156,750 $156,750 $55,392 35.3%$39,941 11.1%$15,452 24.22% 53 - Sportsplex Fund $3,884,471 $3,884,471 $865,384 22.3%$924,817 25.9%-$59,433 -3.62% 70 - Employee Health & Dental Fund $17,897,029 $17,897,029 $4,397,432 24.6%$924,817 25.9%$3,472,615 -1.33% % Variance + FY 2018-19 vs FY 2017-18FY 2018-19 + - Based on percentage not dollars. Notes: * - Actual amounts include Encumbrances. 1 - Finance Department is reviewing material variances with affected departments. 2 - Finance Department is reviewing material variances with affected departments. FY 2017-18 Other Funds | Revenue and Expenditure Department of Finance and Administrative Services FY 2018-19 | First Quarter Report Revenue Expenditure 3