01242012 FINANCE UPDATE.~a
Overview
6 Months
• FY 12 General Fund Revenues
• FY 12 General Fund Expenditures
• Next Steps
v:
~12 General Fund Revenues and Expenditures
Compared to Budget Thru December 31, 2011
(in millions)
Annual YTD
Revenues Budget ~j Varia~c~
Local (80.6% ofbudget) $ 767 5 $ 338 0 $
(429
5)
State
(17.1%ofbudget) 162.3 .
SZ9 (104
4)
Federal ( 2.3% ofbudget)
Total Revenues 21 8 .
11 0 (108)
$~ 9g~ ~,6 - g 406.9 S [544.71
Expenditures/Encumbrances
City Operations $ 599.9 $ 327.3 $ 272
6
City Capital Projects 35.5 .
]9.4 16 ]
S c hoo 1 Operatio ns 354.1 177.0 177
1
Schools Capital Projects 4 1 .
2 1 ~
Total Expenditures/Encumbrances
$ 993.6 0
$ 525.8 $ 467.8
Less Amounts Funded from Fund Bal~utce
Outstanding Encumbrance at 6/30/1 ] $ g 0
Approved Carryover Requests 1 4
City Capital Projects ~6 4
City Operating Budget 6 ~
Adjusted Expenditures/Encumbrances $ 951.6
3
„~xw~~ . , _..
FY 2012 Year-To-Date General Fund Revenues
Compared to Historic Trend at December 31, 2011
iu0% loo.o°r
80~~o YTD ACTUAL = $406.9M
ANNUAL BUDGET = $951.6M I 74.61
i 60% ~ -
~ 59.7
55,8%
t- 50.]
a 42.8
~. 40% ----- - - _. 46.0%
4t.7
°' 26.8
26.0°
14.6
4.4 % 8.3 % 13.6
1.7 ~ 9.1
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Tun
-Rev Trond -x-%ot FY l2 Rec BuApet
a
2
Y
~~ ,~
~~~ FY 2012 -General Fund Revenues
• Still need to collect 57.2% of revenues
• Total Revenue follows the trend line
• Includes Tax Relief for Elderly & Disabled of $15.3M
• Includes delinquents from June 2011
• Several items are on a 1 - 2 month lag
• Business License tax (BPOL) due in March 2012 - $41.3M
• 2"a Real Estate installment due June 5, 2012
• Local Annual Personal Property tax due June 5, 2012 - $69.8M
r ~ ~ . _ - ---.~__T- - -_ _
Estate Revenues -General Fund P
December 31, 2007 - 2011
Esoo
E40U
0
E300
N
N
d
d
d 5200
E10f
FV 2008 r r woe ~ - _ _
Actual Collections OYTD +%of Total
*Total Citywide Budget of $459.3M
w%
0
d
0
U
40% ~
F
O
20
0%
6
3
i
~~_
on Only
_--$.
''~~$ Personal Property Ta esx (excludes PPTRA
<o^ December 31, 2007 - 2011 )
E6
0
f
w
N Sd0
d
C
d
d
0!
S20
f0
General Sales Taxes
December 31, 2007 - 2011
Eso 1.3% Up from FY71
E54.1
E51.4
E50.3 E51.7
Eas
44.1 % 45.3 L
p 4,L 4n,_1°/a
o m. ____
h
°m
~ E30
c
523.8
~ E23.3
E22.1 E22.8
Ets
FY 2000 FY 2009 _~ _~-- -- --
FY 2010 FY 2011
Actual Collections C~y7p ~-%of Total
BUDGET
50%
40
`o
30% u
_d
O
U
O
H
!0% O
e
D%
so%
43.7
0
40%
0
U
E23.1 c
I
20%
--' 0%
FY 2012
S
4
- . --•- ~r207t °~
~ACtual Colactions O FY 2012
YTD '~% of Tdal
t4.o%
i9.9%
9.9%
8.0%
4.0%
2.0%
0.0%
-4.0%
-4.0%
5
0%
-
. 1 J 4 S>.
4 J G ? PO PP QP ~~ ~J? Ap PJ 0P t f, ?O ~. 'f
du ?~ OP )o• Q ~ P J2.
* Collections lag sales by Z months Monthly %cnan9e from PY
~~
.. _ _ _ _ _--~.a-.._. _ _
Telecommunications Taxes
December 31, 2007 - 2011
:a9
E25
Eta
c
0
N
°o S75
O
m
K
St9
55
Ec
60%
0
L
0
0
40% t)
O
H
O
20
o%
10
5
__. _..
__ _ __.
G neral Sales Taxes % Change from FY11 to FY12
(compares to same month of prior year)
FY 4008 FY 2009 r r cur u ~ • --
~ActualCdledions OYTD ~~%of Tdal_ J
III ~.
ES
o E4
w
H
d
~ E3
d
E2
Et
Eo
fUU%
ei,%
fA%
ar
0
U
N
O
40% ~
0
20
r~ ~~~~ rrzofo o%
FY 2011 FY 2012
I~AdualCdlectiona OYTp ~-%o/Total
Total Hotel Room Taxes
December 31, 2007 - 2011
E3o __ __.
1.2% Up from FY11
S25 ..,. ,.
E20
c
O
f
H Ef5
d
C
d
d
~ Eto
E5
EO
80%
m
C
BO% ~
u
0
U
W
O
40% F'
0
20%
r ~ wvn FY 2070 0%
FY 2011 FY 2012
~,_ Actual COllectiona OYTD -~%of Total
~ ,ao%
I
BUDGET
6
Hotel Room Taxes -General Fund Portion Only
December 31, 2007 - 2011
=~''~~~~ Hotel Room Taxes 8% Allocation
(in millions)
Total Hotel Room Tax FY12 Budget = $24.6M
CBD TIF receives $SOOK annually
from GF ($222K) and TIP (S278K)
^ GF 2%
OTAP 1%/$1
^ TIP 5%
^ SB $1
Hotel Room Tax = 8 %~ plus $1 room nights
Note: SB SSD has an additional 2 % % tax
I?
.~--
_- -.-
Restaurant Meal Taxes -General Fund Portion Only
December 31, 2007 - 2011
:4°
-- _ _ --- -
-
6.1%Upfvom FY11 BUDGET
532.3 532.9
E32 E30.6 530.8 530.9 ~%
53.6%
5'2.6°~~ 53.3% 51.6°i° °c
o
c
0
E24 u
'^ 40%
E17.7 ~
516.6
4 b16.3
$16
°
'm .
E16.1 e
~ E16
20%
E8
~ o%
EO -- FY 2009 ~ FY 2010 FY 2011 FY 2072
FY 2008
[_Actual Collections OYTD '~%of Tolal I
7
Total Restaurant Meal Taxes
December 31, 2007 - 2011
E45 i
2
0
E30
` E:
rc
s+s t
so
fY 2008
FY 2009 FY 20+0 FY T011
Actual Cdlections OYTD ~ % of Tdal
80%
IDGET
51.8
60%
5 3.6`Y
`o
0
I U
E27.7 i <0% o
20%
0%
FY 2012
U
z_~_
Restaurant Meal Taxes 5 %% Allocation
din millions)
Total Restaurant Meal Tax FY12 Budget = $51.8M
^ GF 3.5%
^ TAP 0.5°/n
^ TIP 1.06%
^ OS 0.44%
i c,
g
a
~~
mart' of City s General Fund Revenue
s
December 3 1, 2011
(in millions)
Fv 20><2 Yrn _ --
Budget $ % Trend
* RealFatateTaxcs $ 430.13 S 316.2 X1.4 "° n
Personal Property Taxe s 69.8 19.7 28.2 A
PPTRA 53.4 6.5 12.2 A
General Sales Tax 53.0 23.1 43.7 A
Utility Taxes 25.5 11.0 43.0 F
Telecommunications Taxes 20.1 6.9 34.5 U
Business Licenses 41.3 1.1 2.8 U
* Hotel Taxes 5.5 4.1 74.7 F
* Restaurant Taxes 32.9 17.7 53.6 F
Charges for Services 47.1 15.8 33.6 F
Other Local Revenues 51.5 22.4 43.5 F
* State Revenues 108.9 51.4 47.2 F
* Federal Revenues ? I.8 11.0 50.4 F
$ 9$1.6 $ 406.9 42.8 % F
* GF r3ordon only F=Fawrable A=Acceptable U=Unfawrade
100%
so°i°
'e
a 60%
F
~ 40%
a
9.9
0% __ _.._ _ - - -. ~ - -- _. _ _.--~~-- -..
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
-o-Ex~ Kliwn~ TrtnJ -7C- % of FY 12 Exp Budget
IS
FY 2012 Year-To-Date General Fund Expenditures
Compared to Historic Trend at December 31, 2011
I1111.11';'~
- 93.0
YTD ACTUAL = $525.8M 84,y~,o
ANNUAL BUDGET = $993.6M ~
nx.~^,
61.3 ;a
54.1
45.3",-~~ ~ 52.9•/.
37.8 % 44.9%- -
37.7
28.6 %
18.6% 25.5%
20% -
ll 1'~~ 19.1'/.
9
'--~...-m_ . .
~2 YTD General Fund Revenues & Expenditures
Compared to Historic Trend At December 31, 2011
a.oow°
ACTUAL REVENUES = $406.9M
80%
ACTUAL EXPENDITURES= $525.8M
y 61
:0 60%
x
W
F 40%
0
c
d IA.6
n 20% ~ - f~'~7
ILI%
'^ 9.9
t.7% °~
0% ~ --1.5'/. 3.7:4
Jul Aug Sep
~ Rr•v Tnnil
54.I"
45.3% 'ZI
44.9%42.8
°~'
41:
37.7•/.
26.8°
26.0%
13.6
84.9
76.1
74.6
~7~ -
55.8•/.
50.1 •/.
Oct Nov Dec Jan Feb Mar Apr May Jun
~-%~~f Fl"I?Rr•v HUJEit ~-Exlx~odrtun~Tn~id ~x~%of F1'I?Eal, HuilKit
19
l
- _ _- __ -
Next Steps
• Continue to monitor revenues in FY 12
• Real Estate -June due date
• Business License -March due date
• Personal Property -April/May info, June due date
• January Interim -February 28tH
• Proposed FY 13 Budget presented -March 27tH
11