Quarterly Financial Update Through 6/30/2020 Presented to Pullman - - PowerPoint PPT Presentation

Quarterly Financial Update Through 6/30/2020

Presented to Pullman City Council July 28, 2020

General Fund Revenue

• 2020 Revenue Budget is $23,349,491
• Adopted budget used $1,649,861 of reserves to balance
• GEMT Grant ∆ up $606,660
• Liquor & Marijuana ∆ up $49,266 or 22.2%

Sales Taxes Revenue

• 2020 Revenue Budget is $5,000,000
• April Collections down 20.02% YoY
• May Collections Imminent
• Just starting to realize the effects of economic slow down

Property Tax Revenue

• 2020 Revenue Budget is $7,700,000
• May & June Collections Helped Close the Gap on Budget
• Critical to Operations as well as Meeting GO Bond Debt

Private Utilities Revenue

• 2020 Revenue Budget is $2,157,000
• Natural Gas down 44.1% - Probably Attributable to Curtailed Operations
• Electricity & Garbage up 21.1%
• Telephone down 12.7% - Households Cancelling Land Lines

City Utility Fund Revenues

• 2020 Revenue Budget is $16,385,516
• City Council Approved Payment Plan for Individuals Affected

Financially by COVID-19 Pandemic

• WSU Utility Payment Increase YoY for $817,247 (Timing of Payment)

Building Permit Revenue

• 2020 Revenue Budget is $390,000
• Provides Insight to for Future Activity Including Sales Tax Collections
• April was Essentially Shut Down for Construction as well as Public

Hearings at the Planning Commission Level

Street & Arterial Streets Revenues

• 2020 Revenue Budget is $3,965,710
• Private Utilities Revenue is a Streets Fund Revenue
• REET down $34,373 for 23.2%
• Fuel Tax up $16,027 for 9.1% - Chasing Theories as to Why

Transit Revenues

• 2020 Revenue Budget is $6,213,700
• Refund requested by Pullman School District – timing of payments as well
• Refunds requested by WSU – timing of payments as well
• FTA Grant Stabilizing Activity

Civic Improvement Fund Revenues

• 2020 Revenue Budget was $377,000 before 12/17/2019 Budget

Amendment

• Hotel & Motel Tax is Primary Revenue Source
• Cancellations of Mom’s Weekend, Graduation, Summer Events

General Fund Expenses

• 2020 Expense Budget is $24,869,352
• Biggest Change was not Performing Interfund Transfers in June for a

total of $1,356,000

Legislative Expenses

• 2020 Expense Budget is $227,807
• Difference Attributable to Timing of Whitman County Auditor invoice

as well as an increase from the County Auditor of $27,886 or 76.6%

Finance & Administration Expenses

• 2020 Expense Budgets are $3,003,539
• Change YoY attributable primarily to CIP expenditures at New City Hall

and Liability Insurance Increases, also added an additional Accountant in the Finance Department 2020Q1

Law Enforcement Expenses

• 2020 Expense Budget is $8,370,917
• $341,639 of Savings Attributable to Delaying Interfund Items
• Overtime Decreased by $76,601

Fire & Ambulance Expenses

• 2020 Expense Budget is $7,399,197
• $433,764 of Savings Attributable to Delaying Interfund Items
• Overtime Decreased by $65,873

Community & Economic Development Expenses

• 2020 Expense Budget is $1,466,425
• $53,267 of Savings Attributable to Delaying Interfund Items
• Economic Development Department Added in 2019Q4
• Inspections Filled Empty Position from 2019 at in mid-2020Q1

Library Expenses

• 2020 Expense Budget is $1,791,623
• $99,029 of Savings Attributable to Delaying Interfund Items
• Roof Repairs Completed in 2020Q3

Parks & Recreation Expenses

• 2020 Expense Budget is $3,770,111
• $288,748 of Savings Attributable to Delaying Interfund Items
• Additional Savings Due to Curtailed Operations

Streets & Arterial Street Expenses

• 2020 Expense Budget is $6,062,279
• Increase attributable to proportional share of New City Hall expenditures
• Postponed Resurfacing to 2021 Due to State Interpretation on Bidding

Requirements

Utilities Expenses

• 2020 Expense Budget is $25,945,535
• $521,693 of Savings Attributable to Delaying Interfund Items
• Significant Capital Project Expenditures during same period in 2019

Transit Expenses

• 2020 Expense Budget is $5,996,739
• $715,398 of Savings Attributable to Delaying Interfund Items
• FTA Grant Assistance with both Operating and Capital Expenses

Internal Service Funds Expenses

• 2020 Expense Budgets for Buildings, IT, and ERD functions were

$7,091,377 prior to 12/17/2019 Budget Amendments

• $75,609 of Savings Attributable to Delaying Interfund Items
• Proportional share of expenditures at New City Hall

Final Thoughts

• Follow-Up Budget Meetings for 2020

with Mayor & Department Heads Scheduled 8/4 and 8/6

• Economic Outlook
• Update on 2021-2022 Budget Process
• Questions? – Available Offline As Well
• Thank You