HomeMy WebLinkAboutAgenda 05-21-19 12-2 - Information Item - Memorandum-FY2018-19 Third 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: May 21, 2019
Re: FY 2018-19 Third Quarter Financial Report
Please find attached a summary of FY 2018-19 third 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 nine-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 Government I www.orangecountync.gov 1919.732.8181
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ORANGE COUNTY
NORTH CAROLINA
Orange County Finance and Administrative Services
FY 2018-19 Third Quarter
FY 2019 FY 2018 FYs 2019 vs 2018
GENERALFUND Original Budget Revised Budget YTDActual* Percentage YTDActual* Percentage YTD %Variance'
Property Tax $158,561,382 $158,561,382 $155,362,363 97.98% $150,322,445 99.18% $5,039,918 -1.20%0 1
Sales&Use Tax $24,140,242 $24,140,242 $11,648,916 48.26% $11,079,944 47.02% $568,972 1.24%
Licenses and Permits $313,000 $313,000 $142,274 45.45% $146,215 44.58% -$3,941 0.88%0
c
Charges for Services $12,456,495 $12,460,225 $7,795,825 62.57% $8,585,294 74.82% -$789,469 -12.25% z
Intergovernmental $17,296,375 $18,512,417 $9,308,330 50.28% $8,862,123 52.58% $446,207 -2.30%0 3
Transfers In $1,637,600 $1,637,600 $0 0.00% $0 0.00% $0 0.00%-
Investment Earnings $415,000 $415,000 $862,916 207.93% $495,916 187.14% $367,001 20.79%0 4
Miscellaneous $3,114,760 $3,220,076 $907,412 28.18% $1,162,638 39.19% -$255,226 -11.01%*
Appropriated Fund Balance $8,820,099 $10,789,461 $0 0.00% $0 0.00% $0 0.00%-
Total $226,754,953 $230,049,403 $186,028,036 80.86% $180,654,574 81.91% $5,373,462
Community Services $13,159,487 $13,473,144 $8,889,108 65.98% $9,177,924 63.94% -$288,816 2.04%0
General Government $9,891,337 $10,053,809 $7,592,745 75.52% $7,388,535 74.23% $204,210 1.29%0
Public Safety $25,318,777 $25,728,179 $17,841,971 69.35% $17,896,472 69.95% °
v Human Services $39,202,652 $40,780,413 $28,111,307 68.93% $26,526,705 69.48% $1,584,602 -0.55%0
a Education $92,246,242 $92,246,242 $66,256,017 71.83% $66,392,925 73.84% -$136,908 -2.01%0
,L Support Services $13,182,883 $13,723,227 $9,569,180 69.73% $8,945,477 63.44% $623,702 6.29%0 s
Debt Service $29,948,241 $29,948,241 $27,974,271 93.41% $24,341,544 90.96% $3,632,728 2.44%0
Transfers Out $3,805,334 $4,239,906 $0 0.00% $0 0.00% $0 0.00%-
Total $226,754,953 $230,193,160 $166,234,599 72.22% $160,669,582 72.85%1 $5,565,017
Notes:
*-Actual amounts include Encumbrances.
+-Based on percentage.
1-Percent variance reflects remaining three months of Motor Vehicle revenue.
2-Fee collections at Emergency Services,Health,and Sheriff down from FY 2017-18.
3-Decreases attributed to timing of state funds at Public Transportation.
4-Third Quarter yield is 2.47%compared to 1.66%prior quarter fiscal year
5-Expenditures up at Asset Management due to additional costs of emergency-related repairs.
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ORANGE COUNTY
NORTH CAROLINA
Orange County Finance and Administrative Services
FY 2018-19 Third 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%
30-Multi-Year Grant Projects Fund $3,333,954 $3,384,195 $235,740 7.0% $128,841 2.6% $106,899 4.34%
32-Multi-Year Community Development Fund $3,455,129 $3,578,865 $100,830 2.8% $124,230 3.5% -$23,400 -0.65%
33-Housing Fund $4,465,509 $4,492,652 $2,376,666 52.9% $2,296,033 50.2% $80,633 2.69%
c 35-Emergency Telephone Fund $919,145 $919,145 $262,115 28.5% $250,514 33.2% $11,601 -4.73%
37-Visitor's Bureau Fund $1,882,761 $1,886,685 $1,002,204 53.1% $812,127 44.2% $190,078 8.92%
cc 38-Spay/Neuter Fund $68,350 $93,350 $22,908 24.5% $41,626 68.4% -$18,718 -43.87%0 a
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%0
51-Efland Sewer Operating Fund $156,750 $241,750 $92,865 38.4% $114,286 31.8% -$21,421 6.61%
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%
Total $46,240,562 $47,005,553 $19,438,690 41.35% $18,991,763 44.29% $446,927 -2.94%0
29-Annual Grants Project Fund $137,043 $147,065 $95,981 65.3% $105,021 71.9% -$9,040 -6.59%0
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%
d 33-Housing Fund $4,465,509 $4,492,652 $2,219,198 49.4% $2,347,930 51.1% -$128,732 -1.75%
r 35-Emergency Telephone Fund $919,145 $941,147 $448,861 47.7% $355,874 46.1% $92,987 1.63%
c 37-Visitor's Bureau Fund $1,882,761 $1,886,685 $985,503 52.2% $918,278 49.9% $67,226 2.37%
X 38-Spay/Neuter Fund $68,350 $96,815 $28,218 29.1% $24,434 38.7% $3,785 -9.52%
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% s
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%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% -$2,630,746 -6.00%0
Notes:
*-Actual amounts include Encumbrances.
+-Based on percentage.
6-Decreases attributed to timing of grant revenue in Animal Services.
7-Reflects change in fund structure in relation to FY 2017-18.
8-Fund is in process of being decommissioned with the transfer of Efland Sewer Operations to Mebane.