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Home My WebLink AboutPACKET Town Board 2011-01-111/31/2011 1 Financial Update: 3rd Quarter 2010 Steve McFarland –Finance Officer 1/31/2011 2 Sales tax facts •Jan ‐Oct 2010 complete. 83% of calendar; 89% of fiscal year. NOV DATA JUST IN: •YTD 2.2% ahead of 2010 Original Budget; on pace to meet revised $7.0m Revised Budget. •Compare very favorably with CAST communities: 1/31/2011 3 CAST COMMUNITIES 2.5% 2.0% 0.8%0.5% 3.6% 1.2% 0.0% 2.0% 4.0% 6.0%2009 v 2010 ‐0.3%‐0.2% ‐3.2% ‐0.9% ‐2.7% ‐0.1% ‐3.2% ‐1.0%‐0.8% ‐2.9% ‐6.3% ‐6.0% ‐4.0% ‐2.0% 0.0% 2009 v 2010 ‐9.7% ‐7.0% ‐10.7% ‐7.6% ‐12.0% ‐10.0% ‐8.0% 1/31/2011 4 Sales tax comparisons, Jan‐Oct ‘10 Prior Prd Prior Prd 2010 2009 2008 BRIEF TOTAL % +/‐% +/‐% of Jan‐Oct Jan‐Oct DESCRIPTION YEAR 2009 2008 Total YEAR YEAR AMUSEMENTS/RECREATION 42,088.03 ‐18%‐13% 1% 51,351.08 48,388.04 AUTOMOTIVE 127 527 94 8%9%2%118 394 89 116 588 28AUTOMOTIVE127,527.94 8%9%2%118,394.89 116,588.28 FOOD 2,317,516.42 2% 0% 37% 2,276,067.82 2,317,859.40 RETAIL 1,245,057.99 ‐2%‐7% 20% 1,267,948.96 1,332,327.16 LODGING 1,654,237.10 5% 1% 27% 1,568,251.29 1,644,520.93 CONSTRUCTION 294,782.28 1%‐25% 5% 291,085.77 391,059.37 PERSONAL/PROFESSIONAL 89,873.85 2%‐4% 1% 87,771.87 93,684.95 UTILITIES 443,717.55 3%‐10% 7% 431,909.19 495,226.17 GRAND TOTAL 6,214,801.16 2%‐3% 100% 6,092,780.87 6,439,654.30 1/31/2011 5 Sales tax rates of change (thru Mar 10) 5% 10% 15% 20% 500000 600000 700000 Rev . $565,009 $6,780,104 2009 = $6.85M '10 B = $6.90MMarch-10 12 Mo Rev. -15% -10% -5% 0% 5% 100000 200000 300000 400000 12 M o % C h g o f A v e R In c o m e -5.37% 12 Mo. ROC =March-10 -20%0 12 Mo Ave 12 mo %Linear (12 Mo Ave)Linear (12 mo %) 1/31/2011 6 Sales tax rates of change (thru Nov 10) 5% 10% 15% 20% 500000 600000 700000 Rev . $582,230 $6,986,755 2009 = $6.85M '10 B = $6.90MNovember-10 12 Mo Rev. -15% -10% -5% 0% 5% 100000 200000 300000 400000 12 M o % C h g o f A v e R In c o m e 1.45% 12 Mo. ROC =November-10 -20%0 12 Mo Ave 12 mo %Linear (12 Mo Ave)Linear (12 mo %) 1/31/2011 7 FINANCIAL INDICATORS THRU NOV 2010 2010 2010 % of 2010 2010 % of Year ‐to‐Date Budget Variance Budget Year‐to‐Date Budget Variance Budget % of year elapsed> 92% % of year elapsed> 92% REVENUES REVENUES Sales taxes* $6,533,114 $7,919,485 ($1,386,371)82.5% Utility Sales $13,604,634 $14,836,336 ($1,231,702)91.7% Other 1,662,268 1,785,142 (122,874)93.1% Fees/services 252,300 273,358 (21,058)92.3% Transfers from Enterprise 1,026,900 1,115,162 (88,262)92.1% Other 240,111 315,286 (75,175)76.2% TOTAL REVENUES 9,222,282 10,819,789 (1,597,507)85.2% 14,097,045 15,424,980 (1,327,935)91.4% ENTERPRISE FUNDS (L&P/WATER)GENERAL FUND EXPENSES EXPENSES General Government 2,442,118 2,448,259 6,141 99.7% Source of Supply 4,946,838 5,701,869 755,031 86.8% Public Safety 2,712,319 3,318,436 606,117 81.7% Purification 524,930 652,060 127,130 80.5% Engineering 1,628,196 2,107,265 479,069 77.3% Distribution 2,827,571 2,837,560 9,989 99.6% Culture‐Recreation 778,558 976,526 197,968 79.7% Customer Accounts 877,585 1,004,139 126,554 87.4% Interfund Transfers Out 2,222,917 2,908,000 685,083 76.4% Admin/General 1,968,318 2,633,982 665,664 74.7% Interfund Transfers Out 1,026,900 1,115,162 88,262 92.1% Debt Service 2,246,808 1,262,356 (984,452)178.0% Capital 1,194,221 3,282,422 2,088,201 36.4% TOTAL EXPENSES 9,784,108 11,758,486 1,974,378 83.2% TOTAL EXPENSES 15,613,171 18,489,550 2,876,379 84.4% NET INCREASE/DECREASE ($561,826) ($938,697)$376,871 NET INCREASE/DECREASE ($1,516,126) ($3,064,570)$1,548,444 49.5% *includes sales tax through Oct 10g SALES TAX Jan ‐ Oct Nov Dec Total INVESTMENTS (Fair value)Oct‐10 Nov‐10 Dec‐10 Town Funds 2010 Budget 6,134,342 364,404 401,254 6,900,000 L&P Bonds 1,738,239 1,738,167 170,001 2010 6,214,801 364,404 401,254 6,980,459 Town Funds 19,194,404 19,710,153 20,792,415 2009 6,092,781 417,987 341,806 6,852,574 Total 20,932,643 21,448,320 20,962,416 2008 6,439,654 368,076 376,060 7,183,790 2010 vs budget 1.3% 0.0%0.0% 1.2% 2010 data thru 12/31/10: DJIA +11.0%, S&P500 +12.8%, NASDAQ +16.9% annual pooled investment rate: 12/31/10 = 0.22% 1/31/2011 8 (inc rollovers) THRU THRU % BUDGET 2009 EOY 2010 NOV NOV of Tot THRU VS JAN ‐NOV CATEGORY ACTUAL BUDGET 2009 2010 Bdgt NOV 2010 v NOV 09 TOWN OF ESTES PARK FOR THE PERIODS ENDING NOVEMBER 30, 2010 & 2009 VARIANCES GENERAL FUND % of year>> 92% REVENUES $10,621,785 $10,819,789 $8,972,108 $9,222,282 85% $9,954,206 $250,174 ($731,924) EXPENDITURES Legislative (1100) 159,004 180,355 150,844 119,138 66% 165,927 31,706 46,789 Judicial (1200) 40,725 43,772 35,040 35,035 80% 40,270 5 5,235 Executive (1300) 428,107 430,145 363,087 360,455 84% 395,733 2,631 35,278 Elections (1400) 0 18,600 0 12,144 65% 17,112 (12,144)4,968 Finance (1500) 316,871 354,977 279,095 296,608 84% 326,579 (17,513)29,970 Com Dev (1600) 370,334 399,591 324,082 327,898 82% 367,624 (3,816)39,726 Buildings (1700) 523,801 491,864 472,500 418,070 85% 452,515 54,430 34,445 Emp Benefits (1800) 27,217 34,000 13,555 24,455 72% 31,280 (10,901)6,825 Com Svc Grants (1900)* 398,991 317,400 357,991 707,926 223% 292,008 (349,935) (415,918) Police Patrol (2100) 1,808,897 1,877,427 1,613,229 1,584,045 84% 1,727,233 29,184 143,188 Dispatch (2155) 711,484 796,275 624,487 602,043 76% 732,573 22,443 130,530 Com Svc (2175) 226,956 287,793 198,496 227,630 79% 264,770 (29,134)37,139 Prot Inspections (2300)369 266 356 941 329 020 298 600 84%328 386 30 420 29 786 Prot Inspections (2300)369,266 356,941 329,020 298,600 84%328,386 30,420 29,786 Engineering (2400) 84,142 123,980 76,393 75,400 61% 114,062 994 38,662 Streets (3100) 1,004,361 1,983,285 849,002 1,552,796 78% 1,824,622 (703,794)271,826 Parks (5200) 822,125 976,526 756,470 778,558 80% 898,404 (22,088)119,846 Transportation (5600) 167,306 177,555 167,306 140,387 79% 163,351 26,919 22,963 Transfers 3,271,254 2,908,000 3,040,358 2,222,917 76% 2,675,360 817,441 452,443 TOTAL 10,730,842 11,758,486 9,650,956 9,784,107 83% 10,817,807 (133,151)1,033,700 NET INCOME ($109,057) ($938,697) ($678,848) ($561,825) (863,601)$117,023 $301,776