HomeMy WebLinkAbout07C General Fund Financial Report - 04-30-2021Revenues
Sales Tax
Transient Occupancy Tax
License, Permits, & Charges
Property Tax
Franchise Fees
Interest Income and Rent
State Subvention
All Others
InterFund Transfers In
TOTAL REVENUES
Expenditures
Police Services
General Government + Contrib
Public Works
Parks
Building and Safety
Community Development
Economic Development
InterFund Transfers Out
TOTAL GEN FUND EXP
CITY OF PALM DESERT
General Fund Financial Report
to
April 30, 2021 (Year to date)
(YTD Budget based on prior year percentage of actual to budget)
2020-21 2020-21 2020-21
Annual YTD YTD
Budget Budget Actual
15,750,000 11,336,919 13,215,093
8,514,517 5,689,920 6,389,686
3,104,847 2,305,006 2,195,915
7,395,702 4,008,331 4,365,133
3,125,550 2,344,837 2,382,321
641,000 641,000 719,208
4,501,600 2,365,160 2,277,273
3,084,111 3,084,111 4,978,876
2,526,010 1,929,552 2 685,740
40,643,337 33,704,836 39,209,245
2020-21 2020-21 2020-21
Annual YTD YTD
Budget Budget Actual
19, 510,810 11,008,692 10,730,138
13,800,550 9,928,594 10,861,075
6,514,205 4,813,633 4,456,793
4,371,278 2,867,913 2,913,524
1,468,010 1,080,904 1,213, 504
3,028,214 2,176,173 2,074,689
3,375,709 2,371,028 1,733,736
8,011,508 2,833,734 1,070,000
60,080,284 37,080,671 35,053,459
Total GF Exp and Encumb
Fire Protection Services 15,719,500 12,706,243 10,383,522
Encumh.
8,780,672
1,201,933
615,050
933,992
22,510
299,875
1,026,214
12,880,246
47,933,705
11,217,025
2020-21
% to YTD
Budget
117%
112%
95%
109%
102%
112%
96%
161%
139%
116%
2020-21
% to YTD
Budget
Prior
YTD
Actual
13,715,872
10,906,555
2,450,628
4,253,670
2,325,669
2,265,466
2,199,342
4,384,932
1,870,000
44,372,134
Prior
YTD
Actual
Explanation
1 Includes sales tax revenue received through April for each year.; for the period July -Feb
1 Includes payments received through April 30, 2021 for July - March for each year.
1 Lower reimbursements from government to date, BL (-$52,573 {6%}), Permits (+177,593 {22%}) from prior year
t Receive in January and May of each Fiscal Year.
i Lower waste franchise fees recognized during the current fiscal year & SCE fee up $107,872
1 Current average Yield is 0.58%; Prior YTD Yield was 1.80%
t
t Various differences; COVID reimbursements to date $663,425, various other fees differences, resulting in net change.
t Fund 243 transfer for public safety costs.
Explanation
97% 12,569,039 1 Includes luly'20-February Police Service Contracts Payments for this year; the prior years shows luly'19- March payments
109% 10,444,437 t Includes payment of $3.464M to PERS for the City's annual required payment; COVID related costs of $203,837
93% 4,976,074 1 Vacant positions, lower personnel costs.
102% 2,952,652 1 Landscape Contracts and Medians payments
112% 1,347,421 1 Lower personnel costs.
95% 2,179,397 1
73% 2,943,847 1 Promotion & Marketing costs decreased by $1,173,321 (59%); special events ceased do to COVID and less marketing costs.
38% 3,400,000 1
95% 40,812,867
$1.4M transfer to IHUB from General Fund.
82% 10,407,003 Variance result of timing difference of Fire Billing, from Riverside County Fire Department.
Notes:
1. Interest earnings are allocated to all funds that have cash balance at year end.
2. Sales Tax is paid in estimated monthly payments and adjusted for each quarter: 1st -Feb. - May, 2nd .June -Aug, 3rd- Sept -Nov, 4th- Nov - Feb.
3. TOT is received on monthly basis for example January collection is paid in February.
4. Property Taxes are collected from property owners in December and April bi-annually and paid to the City in January and June.
5. Department of Motor Vehicle fees are paid twice a year by the State on February and June.
6. Franchise Fees are paid through property tax collection from Burtec and are paid in April for Time Warner. Edison and Gas Co.
7. General Gov. includes: City Council, City Clerk, City Attorney, City Manager, Finance, Audit; Human Resources, Information Tech., Insurance
8. Economic Development includes: Community Promotions, Market; Visitor Information, Economic Dev.
9. The Information (unaudited) derived from actual revenues and expenditures received by the City during the respective month -to -date reported and are accurote as oferVilCOUNCIL ACTION
Changes to the revenue and expenditures could result from the fiscal year end audit changes in estimates by payer agency's i.e. Ca. Dept. of Fee and Tax. Any changes will he
APPROVED
reflected at next earliest reporting period.
RECEIVED C-lIPa
MEETING DA
AVES: (U
NOES: N 7h -
ABSENT: N 0 n��
ABSTAIN: iv
VERIFIED BY: Nu 5 / S y 5
Original on File with City Clerk's Office
DENIED
OTHER
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NEW FOOMAT
CITY OF PALM DESERT
General Fund Financial Report - Two Year Comparison
Actual to Actual
for the two years ended
April 30, 2021, and April 30, 2020
Revenues
Sales Tax
Transient Occupancy Tax
License, Permits, & Charges
Property Tax
Franchise Fees
Interest Income and Rent
State Subvention
All Others
lnterFund Transfers In
TOTAL REVENUES
Expenditures
Police Services
General Government + Contrib
Public Works
Parks
Building and Safety
Community Development
Economic Development
InterFund Transfers Out
TOTAL GEN FUND EXP
Fire Protection Services
16,000,000
14,000,000
12,000,000 -
10,000,000
8,000,000
6,000,000 -
4,000,000 .
2,000,000 -
2020-21 YTD
Actual Prior YTD Actual Variance
13,215,093
6,389,686
2,195,915
4,365,133
2,382,321
719,208
2,277,273
4,978,876
2,685,740
39,209,245
2020-21 YTD
Actual
10,730,138
10,861,075
4,456,793
2,913,524
1,213,504
2,074,689
1,733,736
1,070,000
35,053,459
13,715,872 (500,779)
10,906,555 (4,516,869)
2,450,628 (254,713)
4,253,670 111,463
2,325,669 56,652
2,265,466 (1,546,258)
2,199,342 77,931
4,384,932 593,944
1,870,000 815,740
44,372,134 (5,162,889)
Prior YTD Actual Variance
12,569,039 (1,838,901)
10,444,437 416,638
4,976,074 (519,281)
2,952,652 (39,128)
1,347,421 (133,917)
2,179,397 (104,708)
2,943,847 (1,210,111)
3,400,000 (2,330,000)
40,812,867 (5,759,408)
10,383,522
1
10,407,003 (23,481)
HEI
103.99% t
89.56% s
98.67% s
90.06% s
95.20% s
58.89% 1
31.47% s
85.89%
% Comparison
of Prior Year
Actual
Explanation
96.35% 1 Includes sales tax revenue received through April for each year.; for the period July -Feb
58.59% i Includes payments received through April 30, 2021 for July - March for each year.
Lower reimbursements from government to date, BL (-$52,573 {6%}), Permits (+177,593 {22%}) from
89.61% 1 prior year
102.62% t Receive in January and May of each Fiscal Year.
102.44% Lower waste franchise fees recognized during the current fiscal year & SCE fee up $107,872
31.75% L Current average Yield is 0.58%; Prior YTD Yield was 1.80%
103.54% t
113.55% t
143.62%
88.36%
Comparison
of Prior Year
Actual
Various differences; COVID reimbursements to date $663,425, various other fees differences, resulting
in net change.
Fund 243 transfer for public safety costs.
Explanation
85.37% 1 Includes July'20-February'21 Police Service Contracts Payments for this year; the prior years shows
Includes payment of $3.464M to PERS for the City's annual required payment; COVID related costs of
$203,837
Vacant positions, lower personnel costs.
Landscape Contracts and Medians payments
Lower personnel costs.
Promotion & Marketing costs decreased by $1,173,321 (59%); special events ceased do to COVID and
$1.4M transfer to IHUB from General Fund.
99.77% Variance result of timing difference of Fire Billing, from Riverside County Fire Department.
• Fy 2020-21
• FY 2019-20
Sales Tax
2-YEA,, „in,rwmatnv
Transient Occupancy Tax License, Permits, & Charges Property Tax
Franchise Fees Interest Income and Rent State Subvention All Others InterFund Transfers In
Revenues
Sales Tax
Transient Occupancy Tax
License, Permits, & Charges
Property Tax
Franchise Fees
Interest Income and Rent
State Subvention
All Others
InterFund Transfers In
TOTAL REVENUES
Expenditures
Police Services
General Government + Contrit
Public Works
Parks
Building and Safety
Community Development
2020-21
Annual
Budget
15,750,000
8,514,517
3,104,847
7,395,702
3,125,550
641,000
4,501,600
3,084,111
2,526,010
48,643,337
2020-21
Annual
Budget
19,510,810
13,800,550
6,514,205
4,371,278
1,468,010
3,028,214
Economic Development 3,375,709
InterFund Transfers Out 8,011,508
TOTAL GEN FUND EXP 60,080,284
Fire Protection Services
CITY OF PALM DESERT
General Fund Financial Report
TO
April 30, 2021 (year to date)
YTD Budget based on
2020-21
YTD 2020-21 YTD
Budget Actual
13,125,000
7,095,431
2,587,373
6,163,085
2,604,625
534,167
3,751,333
2,570,093
2,105,008
40,536,115
13,215,093
6,389,686
2,195,915
4,365,133
2,382,321
719,208
2,277,273
4,978,876
2,685,740
39,209,245
2020-21
YTD
Budget
16,259,008
11,500,458
5,428,504
3,642,732
1,223,342
2,523,512
2020-21 YTD
Actual
10,730,138
10,861,075
4,456,793
2,913,524
1,213,504
2,074,689
2,813,091 1,733,736
6,676,257 1,070,000
50,066,904 35,053,459
Total GF Exp and Encumb 47,933,705
83% of the year complete
2020-21
% to YTD
Budget
101%
90%
85%
71%
91%
135%
61%
194%
128%
97a/o
2020-21
% to YTD
Encumb. Budget
8,780,672 66%
1,201,933 94%
615,050 82%
933,992 80%
22,510 99%
299,875 82%
1,026,214 62%
16%
12,880,246 70%
15,719,500 13,099,583 10,383,522 11,217,025 79%
Prior
YTD Actual
13,715,872
10,906,555
2,450,628
4,253,670
2,325,669
2,265,466
2,199,342
4,384,932
1,870,000
44,372,134
Prior
YTD Actual
Explanation
1 Includes sales tax revenue received through April for each year.; for the period Iuly-Feb
1 Includes payments received through April 30, 2021 for July - March for each year.
1 Lower reimbursements from government to date, BL (-$52,573 {6%)), Permits (+177,593 {22%3) from prior year
1 Receive in January and May of each Fiscal Year.
1 Lower waste franchise fees recognized during the current fiscal year & SCE fee up $107,872
1 Current average Yield is 0.58%; Prior YTD Yield was 1.80%
1 Various differences; COVID reimbursements to date $663,425, various other fees differences, resulting in net change.
Fund 243 transfer for public safety costs.
12,569,039 1 Includes lulv'20-February'21 Police Service Contracts Payments for this year; the prior years shows luly'19- March '20 payments
10,444,437 1 Includes payment of $3.464M to PERS for the City's annual required payment; COVID related costs of $203,837
4,976,074 1
2,952,652 1 Landscape Contracts and Medians payments
1,347,421 1
2,179,397 1
2,943,847
3,400,000
40,812,867
1 Promotion & Marketing costs decreased by $1,173,321 (59%); special events ceased do to COVID and less marketing costs.
$1.4M transfer to IHUB from General Fund.
10,407,003 Variance result of timing difference of Fire Billing, from Riverside County Fire Department.
Notes: -
1. Interest earnings are allocated to all funds that have cash balance at year end.
2. Sales Tax is paid in estimated monthly payments and adjusted for each quarter: 1st -Feb. - May, 2nd -June -Aug, 3rd- Sept -Nov, 4th- Nov - Feb.
3. TOT is received on monthly basis for example January collection is paid in February.
4. Property Taxes are collected from property owners in December and April bi annually and paid to the City in January and June.
5. Department of Motor Vehicle fees are paid twice a year by the State on February and June.
6. Franchise Fees are paid through property tax collection from Burtec and are paid in April for Time Warner. Edison and Gas Co.
Z General Gov. includes: City Council, City Clerk, City Attorney, City Manager, Finance, Audit, Human Resources, Information Tech., Insurance
8. Economic Development includes: Community Promotions, Market Visitor Information, Economic Dev.
9. The Information (unaudited) derived from actual revenues and expenditures received by the City during the respective month -to -date reported and are accurate as of the date of the report.
Changes to the revenue and expenditures could result from the fiscal year end audit, changes in estimates by payer agency's i.e. Ca. Dept. of Fee and Tax. Any changes will be
reflected at next earliest reporting period.
ORIGINAL FORMAT