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HomeMy WebLinkAboutFY 1991 -- Preliminary Annual Financial ReportPRELIMINARY ANNUAL FINANCIAL REPORT TWELVE MONTHS ENDING' SEPTEMBER 30, 1991 1TY (11.. Post Office Box 9960 1101 'Texas Avenue College Station, Texas 77842-0960 (409) 764-3500 MEMORANDUM TO: FROM: DATE: SUBJECT: Ron Ragland, City Manager Glenn Schroeder, Executive Director of Fiscal and Human R March 20, 1992 Interim Financial Reports I have attached financial reports for the fiscal year ended September 30, 1991. These reports will be followed by the Comprehensive Financial Report within the next few weeks. These reports have been prepared on a cash basis with entries to post items such as depreciation and accruals to be reflected on the comprehensive report. During the period October 1, 1990 through September 30, 1991, the financial operations of the City were much as expected. Departments operated within the budgeted resources. Revenues in all funds were very strong and in most cases exceeded revenue projections. cc: Mayor and City Council Executive Staff GENERAL FUND REVENUE/EXPENDITURE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Sales Tax (1) $4,022,600 $6,450,608 60.36 % 5,800,000 111.22 % Property Tax (2) 1,774,600 1,482,576 (16.46) 1,465,800 101.14 Court Revenues 525,100 518,357 (1.28) 575,000 90.15 Parks & Recreation 346,900 335,273 (3.35) 351,300 95.44 Trf. In -lieu -of taxes 4,701,500 3,772,060 (19.77) 3,772,000 100.00 Transfer - Admin. 2,297,100 2,465,577 7.33 2,490,800 98.99 Investment Earnings 219,500 254,274 15.84 213,500 119.10 Miscellaneous 977,800 914,229 (6.50) 924,600 98.88 TOTAL REVENUES 14,865,100 16,192,954 8.93 15,593,000 103.85 EXPENDITURES: Police 3,356,200 3,590,895 6.99 % 3,770,600 95.23 Fire 2,772,200 2,912,234 5.05 2,967,400 98.14 Public Services 1,494,800 2,110,577 41.19 2,155,100 97.93 Culture & Recreation 2,405,100 2,389,737 (0.64) 2,441,800 97.87 Development Services 1,199,800 1,245,258 3.79 1,234,500 100.87 Administration 801,985 743,613 (7.28) 821,824 90.48 Fiscal & Human Res. 1,257,900 1,420,139 12.90 1,429,600 99.34 Management Services 1,161,731 1,290,475 11.08 1,349,100 95.65 Non -Dept. and Contingency 338,584 140,338 (58.55) 306,476 45.79 TOTAL EXPENDITURES 14,788,300 15,843,266 7.13 16,476,400 Unexpended Appropriations ($728,800) REVENUES IN EXCESS OF EXPENDITURES (DEFICIT) $76,800 $349,688 ($154,600) (1) Local sales tax increased from 1% to 1-1/2%, effective with December 1990 payments. (2) General fund property tax declined from 16S per $100 In 1990 to 13.254 per $100 in 1991. 96.16 DEBT SERVICE FUND REVENUE/EXPENDITURE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Property Tax (1) $2,717,000 $3,037,368 11.79 % $2,954,300 102.81 % Transfer from other funds 790,000 646,806 (18.13) 646,800 100.00 investment Earnings 175,500 145,378 (17.16) 146,000 99.57 TOTAL REVENUES 3,682,500 3,829,552 3.99 3,747,100 102.20 EXPENDITURES: General Obligation Bonds: Principal 2,185,000 2,465,000 12.81 2,465,000 100.00 Interest 1,629,900 1,556,695 (4.49) 1,781,600 87.38 Certificate of Obligation: Principal 136,500 145,458 6.56 142,900 101.79 Interest 54,100 42,038 (22.30) 84,600 49.69 Miscellaneous 10,700 10,686 (0.13) 15,000 71.24 TOTAL EXPENDITURES 4,016,200 4,219,877 5.07 4,489,100 94.00 REVENUES IN EXCESS OF EXPENDITURES(DEFICIT) ($333,700) ($390,325) ($742,000) (1) Debt service property tax increased from 244 per $100 valuation in 1990 to 26.754 per $100 in 1991, offset by decrease in General Fund Property Tax. REVENUES: Tax Receipts Center Rentals Miscellaneous TOTAL REVENUES EXPENDITURES: Center Operations Debt Service Chamber of Commerce Arts Council B/CS Athlethic Fed. Parks & Recreation Conf. Ctr.- Capital Contingency Trf: Wolfpen Creek TOTAL EXPENDITURES REVENUES IN EXCESS OF EXPENDITURES (DEFICIT) HOTEL/MOTEL TAX FUND REVENUE/EXPENDITURE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET $971,200 53,200 30,300 1,054,700 $1,005,305 53,686 43,488 1,102,479 156,900 178,635 76,400 75,900 300,000 325,000 100,000 103,225 12,000 18,000 58,500 62,902 104,629 10,000 100,000 94,000 813,800 962,291 $240,900 3.51 0.91 43.52 4.53 13.85 (0.65) 8.33 3.23 50.00 7.52 % $780,000 47,000 17,000 18.25 844,000 178,600 75,900 325,000 103,200 18,000 60,500 108,700 94,000 963,900 $140,188 ($119,900) 128.89 % 114.23 255.81 130.63 100.02 100.00 100.00 100.02 100.00 103.97 96.25 100.00 99.83 SOLID WASTE COLLECTION FUNDS REVENUE/EXPENSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Collection Charges $1,740,500 $1,841,074 5.78 % $1,885,000 97.67 % Penalties $3,723 17,439 20,900 83.44 Recycling - 4,284 - Interest Earnings 25,919 43,079 66.21 7,000 615.41 Reimbursed Administrative - 27,255 27,255 100.00 Miscellaneous 110,807 97,452 (12.05) 135,900 71.71 TOTAL REVENUES 1,880,949 2,030,583 7.96 2,076,055 97.81 EXPENSES: Collection 1,330,383 1,550,719 16.56 1,619,400 95.76 Reimbursed Administrative 188,450 252,770 34.13 252,770 100.00 Transfer In Lieu of Taxes 126,449 142,060 12.35 142,060 100.00 Contribution to Brazos Beautib 9,000 9,000 9,000 100.00 Capital Outlay 179,383 94,286 (47.44) 97,185 97.02 Contingency 584 15,000 TOTAL EXPENSES 1,834,249 2,048,835 11.70 2,135,415 95.95 Unexpended Appropriations (68,772) NET INCOME (CASH BASIS) $46,700 ($18,252) $9,412 NOTE: BVSWMA started operations In May, 1990. City of College Station pays $15/ton tipping fee at landfill. 2,000,000 - 1,800,000 - 1,600,000 - 1,400,000 - 1,200,000 - 1,000,000- 800,000 - 600,000 - 400,000 - 200,000 - 0 SOLID WASTE COLLECTION REVENUE VS BUDGET OCT NOV I I DEC JAN FEB MAR APR MAY JUN JUL AUG SEP ❑ BUDGET ® ACTUAL - BUDGET / 12 ELECTRIC FUND REVENUE/EXPENSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Sale of Electricity (1) $27,945,075 $27,517,585 (1.53) % $28,344,000 97.08 % Investment Earnings 566,305 651,215 14.99 696,000 93.57 Miscellaneous 436,964 463,273 6.02 418,700 110.65 TOTAL REVENUES 28,948,344 28,632,073 (1.09) 29,458,700 97.19 EXPENSES: Wholesale Power (2) 18,715,821 19,072,974 1.91 19,732,300 96.66 Electric Operations 239,771 199,961 (16.60) 262,400 76.20 Transmission & Distribution 1,615,252 2,180,041 34.97 2,492,200 87.47 Reimbursed Admin. & Transfer In -lieu of Taxes (1) 4,224,202 3,330,337 (21.16) 3,318,100 100.37 Development Foundation 50,000 50,000 150.00 50,000 100.00 Debt Service (Budget Proratior 954,166 951,800 (0.25) 951,800 100.00 Utility Billing 559,457 663,943 18.68 663,900 100.01 Capital Outlay 237,985 227,979 (4.20) 214,100 106.48 TOTAL EXPENSES 26,596,654 26,677,035 0.30 27,684,800 96.36 NET INCOME (CASH BASIS) $2,351,690 $1,955,038 $1,773,900 (1) Electric rates reduced by 4.65% in 1991, reflecting at reduction in General Fund Transfer and offset to water rate increase. Twelve months electric sales. 30,000,000 - 25,000,000 - 20,000,000 - 15,000,000 - 10,000,000 - 5,000,000 - 0 OCT ELECTRIC REVENUE BUDGET VS ACTUAL NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP ❑ BUDGET ACTUAL -- BUDGET/ 12 WATER FUND REVENUE/EXPENDSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCALYEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Water Sales (1) $4,625,436 $4,866,570 5.21 % $4,995,000 97.43 % Investment Earnings (12,931) (57,594) 345.39 41,000 Miscellaneous 55,094 106,545 93.39 103,300 103.14 TOTAL REVENUES 4,667,599 4,915,521 5.31 5,139,300 95.65 EXPENSES: Water Production & Distribution 2,267,900 2,191,982 (3.35) 2,478,700 Reimbursed Admin.& Transfer in -lieu of Taxes 1,132,035 801,095 (29.23) 801,100 88.43 100.00 Debt Service (Budget Proration) 1,865,621 1,780,000 (4.59) 1,780,000 100.00 Utility Billing 270,705 321,263 18.68 321,300 99.99 Capital Outlay 135,321 86,652 (35.97) 100,700 86.05 TOTAL EXPENSES 5,671,582 5,180,992 (8.65) 5,481,800 NET INCOME (CASH BASIS) ($1,003,983) ($265,471) ($342,500) (1) Water rates increased by 10% in 1991, the fourth year of 5-year scheduled increases to cost of service. 94.51 5,000,000 - 4,500,000 - 4,000,000 - 3,500,000 - 3,000,000 - 2,500,000 - 2,000,000 - 1,500,000 - 1,000,000 - 500,000 0 WATER REVENUE VS ACTUAL I 1I I OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP ❑ BUDGET ® ACTUAL -- BUDGET/ 12 SEWER FUND REVENUE/EXPENSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER,1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Sewer Service Revenue (1) $3,666,200 $3,863,403 5.38 % $3,793,300 101.85 % Investment Earnings 56,610 65,702 16.06 60,000 109.50 Miscellaneous 35,241 73,599 108.84 83,800 87.83 TOTAL REVENUES 3,758,051 4,002,704 6.51 3,937,100 101.67 EXPENSES: Sewer Collection & Treatment 1,389,500 1,585,628 14.12 1,930,300 82.14 Reimbursed Admin. & Trf. in -lieu of Taxes 757,447 596,054 (21.31) 596,100 99.99 Debt Service (Budget Proration) 1,261,238 1,349,400 6.99 1,349,400 100.00 Utility Billing 45,118 53,544 18.68 53,500 100.08 Capital Outlay 103,445 77,397 (25.18) 77,000 100.52 TOTAL EXPENSES 3,556,748 3,662,023 2.96 4,006,300 91.41 NET INCOME (CASH BASIS) $201,303 $340,681 ($69,200) (1) No changes to rate structure in 1991. 4,000,000 - 3,500,000 - 3,000,000 - 2,500,000 - 2,000,000 - 1,500,000 - 1,000,000 - 500,000 - 0 OCT { SEWER REVENUE VS BUDGET NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP ❑ BUDGET ® ACTUAL --- BUDGET/ 12 LANDFILL FUND REVENUE/EXPENSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Landfill Operator Fees S244,900 $571,972 - $580,285 98.57 % interest Earnings ($1,831) (3,239) 76.90 TOTAL REVENUES 243,069 568,733 580,285 98.01 EXPENSES: Landfill Operator 241,300 433,435 450,628 96.18 Reimbursed Administrative - 123,403 - 120,403 102.49 Capital Outlay 1,232 15,134 1128.41 12,000 126.12 Contingency - 15,000 TOTAL EXPENSES 242,532 571,972 598,031 95.64 Unexpended Appropriations (20,746) NET INCOME (CASH BASIS) $537 ($3,239) $3,000 NOTE: BVSWMA started operations in May, 1990. City of College Station serves as landfill operator and Is reimbursed for expenses. BRAZOS VALLEY SOLID WASTE MANAGEMENT AGENCY REVENUE/EXPENSE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) OPERATING BUDGET ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Landfill Charges S724,828 $1,929,757 166.24 % $1,710,000 112.85 % Sale of Equipment (1) 5,350 50,197 838.26 Interest - 66,104 TOTAL REVENUES 730,178 2,046,058 180.21 1,710,000 119.65 4.0 EXPENSES: Operating Expenses: Landfill Operator $327,631 571,972 580,300 98.56 Consultants/Professional Svcs 32,141 21,648 (32.65) 100,000 21.65 Equipment Rental 17,045 2,772 (83.74) 16,000 17.33 State Disposal Fees 47,212 57,500 82.11 Maintenance 38,981 46,000 84.74 Insurance 8,330 17,772 Reimbursed Administrative 266,166 40,000 Miscellaneous 12,591 80,000 Total Operating Expenses 397,738 966,523 919,800 105.08 Machinery and Equipment 39,982 - 27,000 148.08 Debt Service - Notes 186,750 186,750 100.00 Reserves (Budget Proration) 500,000 500,000 100.00 Total Other Expenses 726,732 713,750 101.82 TOTAL EXPENSES $397,738 $1,693,255 $1,633,550 103.65 NET INCOME (CASH BASIS) $332,440 $352,803 $76,450 CAPITAL BUDGET REVENUES: College Station Proceeds 698,800 800,000 City of Bryan Proceeds 683,800 750,000 Total Hevenuea 1,302,600 - 1,550,000 EXPENSES: Capital Outlay: Land Improvements Machinery and Equipment Total Expenses 168,301 140,000 120.22 4,871 276,237 5571.05 516,800 53.45 - 447,934 805,000 55.64 892,472 1,461,800 61.05 Note: BVSWMA commenced operations in May, 1990. (1) All equipment was transferred to BVSWMA 5/1/90; however, some equipment was rented by the City of Bryan for a period of time to complete landfill work. (2) Funds will be scheduled to be received when equipment purchases and capital construction are to take place. CITY OF COLLEGE STATION INVESTMENT MATURITY SCHEDULE September 30, 1991 MATURITY SETTLEMENT DESCRIPTION Demand Accounts Agency Fund DATE Daily Daily Daily Daily 01-15-92 08/17/90 01-31-92 02/08/90 05-31-92 09/25/90 06-10-92 10/01/90 08-15-92 02J05/90 09-18-92 01/09/91 11-02-92 11/02/90 01-15-93 02/05/90 02-15-93 08/31/90 TexPool Fund -1st City TexPool Fund -NCNB A&M TexPool Fund -Sales Tax REFCORP Strip Coupon (1,500K) 100% Bond Funds CUSIP: 76116EDM9 Treasury Note 8-1/8% (1,000K) 100% Operating Funds CUSIP: 912827YL0 Treasury Note 8-1/2% (2,000K) 50% Operating Funds 50% Bond Funds CUSIP: 912827YX4 F.N.M.A. 10-1/8% (1,740K) 100% Operating Funds CUSIP: 313586SW0 Treasury Notes 7-7/8% (2,000K) 100% Bond Funds CUSIP: 912827XV9 S.LMA. Notes 8.15% (1,000K) 100% Bond Funds CUSIP: 863871GR4 Cert. of Deposit - 1st City 100% Cemetery Fund Treasury Note 8-3/4% (1,000K) 100% Bonds Funds Treasury Note 8-1/4% (1,600K) 100% Operating Funds CUSIP: 912827VO2 BROKER N.C.N.B.-A&M 1st City Nati Bank -Houston TexPool TexPool TexPool Union Planters First -Southwest Prudential-Bache First Southwest Prudential-Bache First Tennessee 1st City Nat i Bank Houston Prudential-Bache Prudential-Bache 05-11-93 07/01/91 Financing Corporation Bonds (FICO) Vining -Sparks 100% Operating Funds (1000K) CUSIP: 31771CAK1 05-15-93 01/29/91 F.H.LM.C. 8.25% (1,000K) C.M.O. 2.4 years Final 9/15/95 100% Bond Funds CUSIP: 312904X42 Shearson -Lehman INTEREST RATE AMOUNT 6.02% 8.22% 8.34% 8.11% 8.06% 8.39% 7.25% 7.90% 8.39% 8.21% 7.20% 7.92% $615,952.50 $8,574.82 $3,207,695.70 $1,004,142.22 $888,769.58 $1,338,825.00 $996,015.63 $2,011,562.50 $1,795,462.50 $1,976,718.75 $1,013,906.25 $50,000.00 $1,009,218.75 $1,601,500.00 $876,650.00 $883,991.57 CITY OF COLLEGE STATION INVESTMENT MATURITY SCHEDULE September 30,1991 MATURITY SETTLEMENT DESCRIPTION BROKER DATE 10-12-93 08/01/90 11-15-93 11/15/90 11-15-93 02/07/91 01-10-94 07/03/91 03-01-94 03/01/91 04-15-94 03/20/91 12-12-94 05/28/91 04-05-95 06/14/91 7-1-96 8/22/91 07-1-96 8/22/91 07-01-96 8/22/91 7-1-96 8/22/91 10-15-96 03/25/91 F.N.MA. NOTE 9.05% (1,000K) Index Sinking Fund Debenture 100% Operating Funds CUSIP: 313586S58 Treasury Note 7-3/4% (1,000K) 100% Bond Funds CUSIP: 912827ZM7 Treasury Note 7-3/4% ($1,000K) 100% Operating Funds CUSIP: 912827ZM7 F.N.M.A. NOTE 7.55% ($1,000K) 100% Operating Funds CUSIP: 313586U80 F.F.C.B. Note 7.15% (1,000K) 100% Operating Funds CUSIP: 313311F31C REFCORP Strip Coupon (1,000K) 100% Operating Funds CUSIP: 76116EAJ9 Paine-Webber Shearson -Lehman Prudential-Bache Shearson -Lehman Prudential-Bache First Tennessee FNMA Coupon 8.30% (1,500K) MGSI Call Date 12/12/91 100% Bond Funds CUSIP: 313586L23 Financing Corporation Bonds (FICO) 100% Bond Funds (2,200K) CUSIP: 31771DCZ4 FHLMC Gold 8% 5 yr. balloon (975K) 100% Bond Funds CUSIP: 31281XSG8 FHLMC Gold 8% 5 yr. balloon (975K) 100% Bond Funds CUSIP: 31281 XPUO FHLMC Gold 8% 5 yr. balloon (975K) 100% Bond Funds CUSIP: 31281XRC8 Vining -Sparks Vining Sparks Vining Sparks Vining Sparks FHLMC Gold 7.5% 5 yr. balin. (1,000K) M.G.S.1. 100% Bond Funds CUSIP: 31281XW99 RECORP Strip Coupon (220K) BVSWMA Closure Reserve CUSIP: 76116EAP5 First Southwest INTEREST RATE AMOUNT 8.70% 7.78% 7.00% 7.40% 7.15% 7.75% 7.60% 8.15% 7.56% 7.56% 7.56% 7.48% 8.23% $487,039.06 $999,210.00 $1,018,437.50 $1,003,281.25 $1,000,000.00 $791,726.28 $1,531,875.00 $1,622,500.00 $111,391.89 $512.12 $109,611.06 $503.95 $768,663.37 $3,533.98 $1,002,774.94 $4,389.92 $140,525.00 CITY OF COLLEGE STATION INVESTMENT MATURITY SCHEDULE September 30,1991 MATURITY SETTLEMENT DESCRIPTION BROKER INTEREST RATE AMOUNT DATE TOTAL $29,730,046.17 COLLATERAL HELD: 1. N.C.N.B. TEXAS A&M BRANCH $750,000 Treasury Notes 9-1/8% 2-15-92 CUSIP 912827XD9 CITY OF COLLEGE STATION COLLATERAL RECONCILIATION September 30,1991 COLLATERAL MARKET VALUE $759,825.00 (+accrued Interest) 1.0131 (09/30/91 WSJ) Plus $100,000 FDIC coverage BOOK BALANCE $615,95250 GENERAL FUND REVENUE/EXPENDITURE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Sales Tax (1) $4,022,600 $6,450,608 60.36 % 5,800,000 111.22 % Property Tax (2) 1,774,600 1,482,576 (16.46) 1,465,800 101.14 Court Revenues 525,100 518,357 (1.28) 575,000 90.15 Parks & Recreation 346,900 335,273 (3.35) 351,300 95.44 Trf. In -lieu -of taxes 4,701,500 3,772,060 (19.77) 3,772,000 100.00 Transfer - Admin. 2,297,100 2,465,577 7.33 2,490,800 98.99 investment Earnings 219,500 254,274 15.84 213,500 119.10 Miscellaneous 977,800 914,229 (6.50) 924,600 98.88 TOTAL REVENUES 14,865,100 16,192,954 8.93 15,593,000 103.85 EXPENDITURES: Police 3,356,200 3,590,895 6.99 % 3,770,600 95.23 Fire 2,772,200 2,912,234 5.05 2,967,400 98.14 Public Services 1,494,800 2,110,577 41.19 2,155,100 97.93 Culture & Recreation 2,405,100 2,389,737 (0.64) 2,441,800 97.87 Development Services 1,199,800 1,245,258 3.79 1,234,500 100.87 Administration 801,985 743,613 (7.28) 821,824 90.48 Fiscal & Human Res. 1,257,900 1,420,139 12.90 1,429,600 99.34 Management Services 1,161,731 1,290,475 11.08 1,349,100 95.65 Non -Dept. and Contingency 338,584 140,338 (58.55) 306,476 45.79 TOTAL EXPENDITURES 14,788,300 15,843,266 7.13 16,476,400 Unexpended Appropriations ($728,800) REVENUES IN EXCESS OF EXPENDITURES (DEFICIT) $76,800 $349,688 ($154,600) (1) Local sales tax increased from 1% to 1-1/2%, effective with December 1990 payments. (2) General fund property tax declined from 164 per $100 in 1990 to 13.254 per $100 in 1991. 96.16 DEBT SERVICE FUND REVENUE/EXPENDITURE ANALYSIS (CASH BASIS) FISCAL YEARS 1990 & 1991 SEPTEMBER, 1991 (100% OF FISCAL YEAR) ACTUAL ACTUAL PERCENTAGE 1991 PERCENT 1990 1991 INCREASE ANNUAL OF ANNUAL (12 MONTHS) (12 MONTHS) (DECREASE) BUDGET BUDGET REVENUES: Property Tax (1) $2,717,000 $3,037,368 11.79 % $2,954,300 102.81 % Transfer from other funds 790,000 646,806 (18.13) 646,800 100.00 Investment Earnings 175,500 145,378 (17.16) 146,000 99.57 TOTAL REVENUES 3,682,500 3,829,552 3.99 3,747,100 102.20 EXPENDITURES: General Obligation Bonds: Principal 2,185,000 2,465,000 12.81 2,465,000 100.00 Interest 1,629,900 1,556,695 (4.49) 1,781,600 87.38 Certificate of Obligation: Principal 136,500 145,458 6.56 142,900 101.79 Interest 54,100 42,038 (22.30) 84,600 49.69 Miscellaneous 10,700 10,686 (0.13) 15,000 71.24 TOTAL EXPENDITURES 4,016,200 4,219,877 5.07 4,489,100 94.00 REVENUES IN EXCESS OF EXPENDITURES(DEFICIT) ($333,700) ($390,325) ($742,000) (1) Debt service property tax increased from 244 per $100 valuation in 1990 to 26.75, per $100 in 1991, offset by decrease in General Fund Property Tax.