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Home My WebLink AboutAgenda- 02-19-2019 12-4 - Information Item - Memorandum Regarding FY2018-19 Second Quarter Financial Report 1 ORANGE COUNTY NORTH CAROLINA FINANCE and ADMINISTRATIVE SERVICES Gary Donaldson,CTP,Chief Financial Officer I gdonaldson@orangecountync.gov 1 200 S.Cameron Street,Hillsborough,NC 27278 1919.245.2453 To: Board of County Commissioners From: Gary Donaldson, Chief Financial Officer Date: February 19,2019 Re: FY 2018-19 Second Quarter Financial Report Please find attached a summary of FY 2018-19 second quarter financial report for the General Fund, Enterprise Funds, and Special Revenue Funds. The notes at the end of each table provide variance explanations. The variance compares the current fiscal year year-to-date results with the prior fiscal year. Based on six-months of fiscal year reporting and updates to our multi-year financial model,the General Fund is projected to end FY 2018-19 with break-even financial results. The Enterprise Funds and Special Revenue Funds are projected to end the fiscal year consistent with the adopted FY 2018-19 operating budget as well. Finance continues to monitor any material variances not attributed to timing and will provide updates as necessary. cc: Bonnie Hammersley, County Manager Enclosures Orange County Governments www.orangecountync.gov 1919.732.8181 2 f ORANGE COUNTY NORTH CAROLINA Finance and Administrative Services FY 2018-19 Second Quarter FY 2019 FY 2018 FYs 2019 vs 2018 GENERAL FUND Original Budget Revised Budget YTDActual* Percentage YTDActual* Percentage YTD %Variance' Property Tax $158,561,382 $158,561,382 $125,016,481 78.84% $123,362,264 81.40% $1,654,217 -2.55%0 1 Sales&Use Tax $24,140,242 $24,140,242 $6,296,944 26.08% $6,140,408 26.06% $156,536 0.03% Licenses and Permits $313,000 $313,000 $71,599 22.88% $74,546 22.73% -$2,947 0.15% Charges for Services $12,456,495 $12,456,495 $4,658,463 37.40% $5,844,704 50.93% -$1,186,241 -13.53% Z Intergovernmental $17,296,375 $17,836,256 $5,501,396 30.84% $5,500,383 32.63% $1,013 -1.79% a W Transfers In $1,637,600 $1,637,600 $0 0.00% $0 0.00% $0 0.00%- Investment Earnings $415,000 $415,000 $165,355 39.84% $213,519 80.57% -$48,164 -40.73%0 ° Miscellaneous $3,114,760 $3,179,125 $657,031 20.67% $767,652 25.87% -$110,620 -5.21%19 Appropriated Fund Balance $8,820,099 $8,820,099 $0 0.00% $0 0.00% $0 0.00%= Total $226,754,953 $227,359,199 $142,367,270 62.62% $141,903,476 64.34% $463,793 -1.72%19 Community Services $13,159,487 $13,469,414 $5,951,317 44.18% $6,674,565 46.50% -$723,248 -2.31%19 General Government $9,891,337 $10,053,809 $5,627,469 55.97% $5,587,849 56.14% $39,619 -0.16%19 Public Safety $25,318,777 $25,727,179 $12,057,161 46.87% $12,671,762 49.53% -$614,601 -2.66%19 Human Services $39,202,652 $40,012,677 $19,482,725 48.69% $18,295,758 47.92% $1,186,967 0.77% a Education $92,246,242 $92,246,242 $43,719,891 47.39% $43,816,723 48.73% -$96,832 -1.34% Support Services $13,182,883 $13,573,227 $7,099,828 52.31% $6,609,673 46.87% $490,155 5.43% s Debt Service $29,948,241 $29,948,241 $10,346,219 34.55% $9,903,038 37.01% $443,181 -2.46% Transfers Out $3,805,334 $4,035,906 $0 0.00% $0 0.00% $0 0.00%- Total $226,754,953 $229,066,694 $104,284,611 45.53% $103,559,369 46.96% $725,241 -1.43%0 Notes: *-Actual amounts include Encumbrances. +-Based on percentage. 1-Property Tax YTD variance attributed to timing of payments. 2-Charges for Services at Emergency Services,Health,and Sheriff lower than prior FY;partially attributed to higher prior FY collections for Emergency Service back billings. 3-Intergovernmental YTD variance attributed to timing of State funds for Orange Public Transportation. 4-Investment earnings decrease attributed to timing of interest income allocations. 5-Support Services increase attributed to additional costs of unanticipated building repairs in Asset Management Services 3 ORANGE COUNTY NORTH CAROLINA Finance and Administrative Services FY 2018-19 Second Quarter FY 2019 FY 2018 FYs 2019 vs 2018 OTHER FUNDS Original Budget Revised Budget YTDActual* Percentage YTDActual* Percentage YTD %Variance' 29-Annual Grants Project Fund $137,043 $141,043 $49,722 35.3% $46,812 32.6% $2,910 2.61%0 30-Multi-Year Grant Projects Fund $3,333,954 $3,384,195 $235,740 7.0% $128,841 2.6% $106,899 4.34%19 32-Multi-Year Community Development Fund $3,455,129 $3,578,865 $100,830 2.8% $124,230 3.5% -$23,400 -0.65%0 33-Housing Fund $4,465,509 $4,492,652 $2,376,666 52.9% $2,296,033 50.2% $80,633 2.69%19 35-Emergency Telephone Fund $919,145 $919,145 $262,115 28.5% $250,514 33.2% $11,601 -4.73%0 t 37-Visitor's Bureau Fund $1,882,761 $1,886,685 $1,002,204 53.1% $812,127 44.2% $190,078 8.92%19 W 38-Spay/Neuter Fund $68,350 $93,350 $22,908 24.5% $41,626 68.4% -$18,718 -43.87% e 50-Solid Waste Enterprise Fund $10,040,421 $10,486,368 $7,883,783 75.2% $8,037,076 61.2% -$153,294 13.97%19 51-Efland Sewer Operating Fund $156,750 $241,750 $92,865 38.4% $114,286 31.8% -$21,421 6.61%19 53-Sportsplex Fund $3,884,471 $3,884,471 $1,692,962 43.6% $1,712,956 48.0% -$19,993 -4.39%0 70-Employee Health&Dental Fund $17,897,029 $17,897,029 $5,718,895 32.0% $5,427,262 54.5% $291,633 -22.55%0 Total $46,240,562 $47,005,553 $19,438,690 4L.3MI $18,991,763 44.2 $446,927 29-Annual Grants Project Fund $137,043 $147,065 $95,981 65.3% $105,021 71.9% -$9,040 -6.59%19 30-Multi-Year Grant Projects Fund $4,147,128 $4,214,772 $253,977 6.0% $356,767 6.2% -$102,790 -0.13% 32-Multi-Year Community Development Fund $4,016,705 $4,073,130 $348,718 8.6% $575,637 14.0% -$226,919 -5.43%19 d 33-Housing Fund $4,465,509 $4,492,652 $2,219,198 49.4% $2,347,930 51.1% -$128,732 -1.75% 35-Emergency Telephone Fund $919,145 $941,147 $448,861 47.7% $355,874 46.1% $92,987 1.63%i0 s ° 37-Visitor's Bureau Fund $1,882,761 $1,886,685 $985,503 52.2% $918,278 49.9% $67,226 2.37%0 9 x 38-Spay/Neuter Fund $68,350 $96,815 $28,218 29.1% $24,434 38.7% $3,785 -9.52%19 W 50-Solid Waste Enterprise Fund $10,040,421 $11,896,444 $6,547,600 55.0% $9,443,799 58.2% -$2,896,199 -3.14%0 51-Efland Sewer Operating Fund $156,750 $241,750 $159,058 65.8% $131,599 35.1% $27,459 30.73%0 io 53-Sportsplex Fund $3,884,471 $6,178,168 $3,940,357 63.8% $5,178,469 72.8% -$1,238,112 -9.02% 70-Employee Health&Dental Fund $17,897,029 $17,897,029 $7,887,971 44.1% $6,088,381 60.9% $1,799,590 -16.78% Total $47,615,312 $52,065,657 $22,915,443 44.01%1 $25,526,189 50.01% -$2,610,746 -6.00%19 Notes: *-Actual amounts include Encumbrances. +-Based on percentage. 6-Spay/Neuter Fund decreases attributed to timing of grant revenue in Animal Services. 7-Health/Dental Fund variance reflects fund structure as compared to prior FY and timing of account postings. 8-E-911 Fund budget includes fund balance appropriation to finance non-recurring expenditures. 9-Visitors Bureau Fund budget includes fund balance appropriation to finance non-recurring expenditures. 10-Efland Sewer Fund is in process of Decommissioning with the transfer of Efland Sewer Operations to Mebane.