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Home My WebLink About06-16-1999 Agenda 4B4SARATOGA CITY COUNCIL EXECUTIVE SUMMARY NO.~ MEETING DATE: June 16,1999 AGENDA ITEM CITY MANAGER: ORIGINATING DEPT: Administrative Services DEPT. HEAD: SUBJECT: Monthly Financial Report for May 1999 RECOMMENDED MOTION(S): Accept the monthly financial reports for May 1999. REPORT SUMMARY: The accompanying financial reports represent the monthly revenues, expenditures and fund balances in all City funds for Fiscal Year 1998-99, as of May 1999. FINANCIAL SUMMARY Overall, revenues are slightly higher than expected at this point in the annual cycle, and expenditures are slightly lower than expected. In the General Fund, revenues are about $193,000 higher than expected as of May. Most of the major General Fund revenue sources are on track with the estimates which were made recently as part of the budget development process. Although several funding sources including sales tax revenues, motor vehicle license fees, refunds and reimbursements, and interest income are higher than originally budgeted, they are either very close or higher to the recent estimates done for the upcoming budget year. Disaster recovery reimbursements are lower than originally expected since the reimbursement claims are still in process and have not yet been received. All other General Fund revenues are approximately as budgeted at this point. During the next few months, the City is expecting to receive a payment of almost $500,000 from the County as the final one-third of the TEA phase out, as well as disaster recovery reimbursements of about $275,000. General Fund expenditures are about $76,800 less than anticipated as of May, with savings in many of the program budgets. Vacancies in the Public Works department has resulted in salary savings in the General Fund. In other funds, vehicle fines are higher than the original conservative estimate due to the State taking a smaller portion than in previous years. Development Service revenues are about 40% higher than originally budgeted as of May due to an active development environment. Development expenditures, however, are on target. The Streets and Roads fund has experienced some savings from staffing vacancies. Recreation Services revenues are a little higher than expected, and expenditures appear slightly lower than anticipated as of May, but June is expected to continue to be a busy month, during which both revenues and expenditures are expected to pick up. Other funds are generally as anticipated. Please note that operating transfers are generally only done at year end, including the transfer for the indirect cost allocation for administrative overhead. Therefore, while the transfers are included in the annual budget figures, they are not in the monthly estimate nor the monthly actuals. FISCAL IMPACTS: None. ADVERTISING, NOTICING AND PUBLIC CONTACT: Nothing additional. CONSEQUENCES OF NOT ACTING ON RECOMMENDED MOTION(S): None. FOLLOW UP ACTIONS: Accept and file the report. ATTACHMENTS: Monthly Financial Report for May 1999 Treasurer's Report for May 1999 cc: Finance Commission MJW:mjw Monthly_Feb99 Monthly_May99 2 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% FUND BALANCE ESTIMATED BALANCE ADJUSTS & YEAR TO DATE BALANCE BALANCE FUND FUND DESCRIPTION JULY 1,1998 TRANSFERS REVENUE EXPENDITURE MAY 31,1999 JUNE 30,1999 001 GENERAL FUND $ 5,847,373 $ (1,266,101) $ 6,065,686 $ 4,618,220 $ 6,028,738 $ 6,604,194 SPECIAL REVENUE FUNDS: 100 COPS SUP. LAW ENFORCEMENT 19,573 110 TRAFFIC SAFETY SRF - 150 STREETS&ROADS SRF 170 HILLSIDE REPAIR SRF - 180 LANDSCAPE/LGTNG SRF 85,792 250 DEVELOPMENT SRF 289,473 260 ENVIRNMNTAL PRG SRF 85,773 270 HOUSING & COMM DEV SRF 68,401 290 RECREATION SRF - 292 FACILITY OPS SRF 710 HERITAGE PRSRVTN TRST FND 6,242 TOTAL SPECIAL REV. FUNDS 555,254 CAPITAL PROJECT FUNDS: 160 TRANS DEV ACT SRF 293 THEATER TCK SRCHG SRF 11,294 310 PARK DEVELOPMENT 2,219,278 TOTAL CAPITAL PROJ. FUNDS 2,230,572 DEBT SERVICE FUND: 400 LIBRARY BONDS DEBT SVC 1,402 TOTAL DEBT SVC. FUND 1,402 AGENCY FUNDS: 420 LEONARD ROAD DEBT SVC 41,036 700 QUARRY CREEK PROJ ADM 24,697 720 C.A. TV TRUST FUND 77,450 730 PARKING DIST #2 DEBT SVC 1,181 740 PARKING DIST #3 DEBT SVC 1,782 800 DEPOSIT AGENCY FUND 409,477 990 SARATOGA PUBL FIN AGNCY 228,441 TOTAL AGENCY FUNDS 795,064 TOTAL ALL FUNDS $ 9,429,665 $ 70,146 40,016 49,703 4,296 (135,043) 142,575 7,532 - 1,584,689 485,912 2,070,601 - 23,860 12,585 36,445 - 114,079 103,030 96,841 81,682 1,660,931 712, 773 I ,23 7,631 654,361 (162,000) 649,801 270,591 302,983 248,127 11,500 64,921 246,249 (101,427) 95,408 (49,392) 588,610 539,218 - (67,883) 113,365 45,482 (6,242) - - - - 1,199,489 3,902,925 4,071,937 1,585,731 1,083,874 4,800 - 4,800 - 52,354 21,581 85,229 - 111,780 70,024 2,261,034 2,204,323 57,154 133,361 160,053 2,261,034 2,204,323 92,893 85,183 9,112 2,547 - 92,893 85,183 9,112 2,547 7,896 12,493 36,439 40,685 9,45$- 305 34,460 - r 3,125 - 80,575 81,250 8,800 10,932 10,049 12,630 96,028 167,843 (70,033) 9,305 - - 409,477 409,477 15,317 - 243,758 246,941 - $ 10,326,336 $ 9,161,121 $ 10,594,880 ~ $ 1 fs599~RECAP Page 1 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% REVENUES FISCAL YEAR 1998-99 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5/31/99 5/31/99 5/31/99 TITLE BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE REVENUE RECAP BY FUND 001 GENERAL FUND $ SPECIAL REVENUE FUNDS: 100 COPS-SLESF FUND 110 TRAFFIC SAFETY FUND 150 STREETS & ROADS SRF 170 HILLSIDE REPAIR FUND 180 LANDSCAPE & LIGHTING FUND 250 DEVELOPMENT FUND 260 ENVIRNMNTAL PROGRAM FUND 270 HOUSING & COMMUNITY DEV FUND 290 RECREATION FUND 292 FACILITY OPERATIONS FUND 710 HERITAGE PRSRVTION TRUST FUND TOTAL SPECIAL REVENUE FUNDS CAPITAL PROJECTS FUNDS: 160 TRANSPORT DEVELOP ACT SRF 293 THEATER TCK SRCHG SRF 310 PARK DVLPMNT CAP PRJ FND _ TOTAL CAPITAL PROJECTS FUNDS DEBT SERVICE FUND: 400 LIBRARY BOND DEBT SRV FND _ TOTAL DEBT SERVICE FUND TOTAL AGENCY FUNDS 420 LEONARD RD DEBT SER FUND 700 QUARRY CREEK TRUST FUND 720 CA TV TRUST FUND 730 PRK DST#2 DBT SR/AGNCY FD 740 PRK DST#3 DBT SR/AGNCY FD 800 DEPOSITS AGENCY FUND 990 SARATOGA PFA AGENCY FUND _ TOTAL AGENCY FUNDS TOTAL ALL FUNDS $ 10,711 7,896 305 3,125 8,800 96,028 15,317 $ 12,297,325 ~ $ 9,954,251 $ 10,326,336 6,155,625 $ 7,361,361 $ 5,871,785 $ 6,065,686 3.3% 71,000 70,146 70,146 70,146 0.0% 32,938 145,938 134,271 142,575 6.2% (1) 721,281 730,531 509,318 485,912 -4.6% (8) 5,160 12,785 11,536 12,585 9.1% 128,975 127,872 115,383 114,079 -1.1% 1,240,700 1,677,200 1,537,433 1,660,931 8.0% (2) 709,291 709,291 620,653 649,801 4.7% 372,013 279,000 63,833 64,921 1.7% 589,700 589,700 560,558 588,610 5.0% (4) 134,000 124,000 113,667 113,365 -0.3% 4,005,058 4,466,463 3,736,799 3,902,925 4.4% 99,676 21,273 - - - 21,500 21,500 19,708 21,581 9.5% 143,520 110,745 101,516 111,780 10.1% 264,696 153,518 121,225 133,361 10.0% 94,106 YEAR-TO-DATE 1 PERCENT 94;106 94,106 94,106 94,106 92,893 -1.3% -13% 12,263 12,280 6,754 350 350 321 - 3,800 3,483 11,538 '* 11,449 6,297 168,225 175,498 46,524 - 18,500 16,958 192,376 221,877 130,337 16.9% -4.9% 10.3% 39.8% -0.5% -9.7% 0.9% 3.7% fs5991REVENUE Page 2 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% REVENUES FISCAL YEAR 1998-99 YEAR-T0.DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5/31/99 5/31/99 5/31/99 TITLE BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE GENERAL FUND 001 PROP TAX SECURED/IJNSECURED $ 1,040,000 $ 1,158,376 $ 949,868 $ 985,137 3.7% TEA ALLOCATION 300,000 668,965 191,000 188,224 -1.5% (3) 1,340,000 1,827,341 1,140,868 1,173,361 2.8% SALES TAX 1% 962,964 1,013,100 928,675 930,515 0.2% SALES TAX PROP 172 72,036 76,500 70,125 65,418 -6.7% 1,035,000 1,089,600 998,800 995,933 -0.3% TRANSFER TAX 286,000 286,000 238,333 243,639 2.2% CONSTRUCTION TAX 375,000 375,000 343,750 338,600 -1.5% TRANS OCCUP TAX 257,250 263,746 177,810 164,971 -7.2% FRANCHISE FEES - FRANCHISE PG&E 207,315 234,189 234,189 234,190 0.0% (4) FRANCHISE TCI 160,680 173,320 144,433 131,865 -8.7% (4) FRANCHISE SJ WATER 92,731 84,261 84,261 84,261 0.0% FRANCHISE GREEN VALLEY 283,000 281,200 234,333 234,533 0.1% 743,726 772,970 697,217 684,849 -1.8% BUSINESS LICENSES 274,050 274,050 251,213 244,176 -2.8% MOTOR VEHICLE LICENSE FEE 1,173,000 1,300,668 1,192,279 1,256,394 5.4% (4) OFF HIGHWAY MV FEE 170 498 500 498 -0.4% HOPTR 16,000 16,000 12,000 13,184 9.9% 1,189,170 1,317,166 1,204,779 1,270,076 5.4% DISASTER RECOVERY 321,190 387,471 115,000 114,774 -0.2% (5) OTHER REFUNDS & REIMBURSES 171,559 212,017 194,349 265,895 36.8% (6) FINES-FALSE ALARM 25,000 -2:1,000 22,917 22,375 -2.4% FORFEITURES 40,000 40,000 36,667 41,953 14.4% INTEREST 250,000 350,000 320,833 366,919 14.4% (7) RENTALS-CELL PHONE 44,000 50,000 45,833 51,476 12.3% (4) SALE OF ASSETS 5,000 - - MISC. 10,000 ~ 15,000 13,750 14,684 6.8% UNSPEC REV REDUCT. (300,000) ~ _ ANIMAL LICENSES 13,680 r" 8,000 7,333 7,932 8.2% FUEL SALES % 15,000 10,000 9,167 6,691 -27.0% GROUND MAINT 5,000 5,000 4,583 3,000 -34.5% PERMIT-ENCRMT. 55,000 53,000 48,583 54,382 11.9% TOTAL GENERAL FUND 6,155,625 7,361,361 5,871,785 6,065,686 33% fs599\REVENUE Page 3 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% REVENUES FISCAL YEAR 1998-99 YEAR-TO-DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5/31/99 5/31/99 5/31/99 TITLE BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE SPECIAL REVENUE FUNDS: COPS-SLESF SP REV FD 100 SUPPL LAW ENFORCE TRAFFIC SAFETY SRF 110 REFUNDS & REIMB. CROSSING GUARD MATCH FINES-VEHICLE CODE TOTAL TRAFFIC SAFETY SRF STREETS & ROADS SRF 150 REFUNDS & REIMB. MISC. ST HIGHWAY USER 2107.5 ST HIGHWAY USER 2106 ST HIGHWAY USER 2107 ST FHWA REIMB. ST 2105 S&H CODE MEASURE B TOTAL ST&RDS SRF HILLSIDE REPAIR SRF 170 INTEREST HILLSIDE STREET REPAIR TOTAL HILLSIDE REPAIR SRF LANDSCAPE/LGTNG SRF 180 PROP. TAX SPECIAL ASSESSMENT INTEREST TOTAL LANDSCAPE/LGTNG SRF DEVELOPMENTSRF 250 GEOLOGY REVIEW FEES ENGINEERING FEES PLANNING FEES ARBORIST FEE MAP/PUB/OTHER SALES DOCUMENT STRG FEES PERMITS-BUILDING PERMITS-GRADING TOTAL DEVELOPMENT SRF 71,000 70,146 70,146 70,146 0.0% 2,938 30,000 5,938 140,000 5,938 128,333 6,000 136,575 1.0% 6.4% (1) z~ uztt ld5.93R 134.271 142575 6.2% 31,500 2,000 6,000 6,158 2.6% 6,000 6,000 6,000 6,000 0.0% 149,051 144,05 l 124,209 120,805 -2.7% 260,188 260,188 216,823 198,771 -8.3% (8) 87,000 - - - 187,542 187,542 156,285 154,178 -1.3% - 125,750 - - - 721,281 730,531 509,318 485,912 -4.6% 200 5,160 X2,585 11,536 12,585 9.1% 5,160 12,785 11„536 12,585 9.1 70,355 70,355 64,492 63,244 -1.9% 57,b20 ~ 55,517 50,891 50,835 -0.1% 1,000 2,000 - - - 128.975 127,872 115,383 114,079 _ _1.1% 52,500 105,000 96,250 87,674 -8.9% (2) 54,000 200,000 183,333 144,747 -21.0% 320,000 415,000 380,417 430,792 13.2% 50,000 65,000 59,583 90,128 51.3% 200 200 183 - 0% 7,000 12,000 11,000 15,550 41.4% 725,000 825,000 756,250 825,937 9.2% 32,000 55,000 50,417 66,103 31.1% ,240,700 1,677,200 1,537,433 1,660,931 8.0% fs599\REVENUE Page 4 6/11/99 i~ CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED X1.66% REVENUES FISCAL YEAR 1998-99 YEAR-TO-DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5/31/99 5/31/99 5/31/99 TITLE BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE ENVIRNMNTAL PRG SRF 260 CLEAN AIR GRANT 162,000 162,000 161,244 161,244 0.0% ST REFUSE SURCHG AB939 20,000 20,000 20,000 34,173 70.9% ENVIRONMENTAL FEES 527,291 527,291 439,409 454,384 3.4% TOTAL ENVIRON PRG SRF 709,291 709,291 620,653 644,801 4.7% HOUSING&COMM DEV SRF 270 HCD/CDBG/SHARP GRANTS 369,413 277,000 - 8 100%+ INTEREST 2,600 2,000 1,833 3,535 92.8% SHARP LOAN REPAYMENT - - 62,000 61,378 -1.0% TOTAL HOUSING/COMM DEV SRF 372,013 279,000 63,833 64,921 1.7% RECREATION SRF 290 SPORTS LEAGUE FEES 44,000 44,000 40,333 32,184 -20.2% CAMP FEES 96,000 96,000 88,000 88,817 0.9% EXCURSION FEES 82,500 82,500 75,625 80,214 6.1% CLASS/SPECIAL EVENT 324,000 324,000 317,000 335,030 5.7% SNACK BAR SALES 1,200 1,200 1,100 1,369 24.5% REDWOOD SPORTS PRGM. 28,000 28,000 25,667 26,669 3.9% TEEN SERVICES 13,000 11,000 10,083 21,350 111.7% SNACK BAR SALES 1,000 1,000 917 1,126 22.8% WARNER HUTTON CONTRIBUTIONS - 2,000 1,833 1,851 1.0% TOTAL RECREATION SRF 589,700 589,700 560,558 588,610 5.0% FACILITY OPS SRF _~ 292 BUILDING RENT 125,000 120,000 110,000 108,537 -1.3% PARKS RENT 9,000 4,000 3,667 4,828 31.7% TOTAL FACILITY OPS SRF 134,000 124,000 113,667 113,365 -0.3% HERITAGE PRSRVTN TRST FND ' 710 INTEREST - - - - - ,r TOTAL SPECIAL REVENUE FUNDS 4„005,058 4,466,463 3,736,799 3,902,925 4.4% fs599\REVENUE Page 5 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31, 1999 PERCENT OF YEAR ELAPSED =91.66% REVENUES FISCAL YEAR 1998-99 YEAR-TO-DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5/31/99 5/31/99 5/31/99 TITLE BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE CAPITAL PROJECTS FUNDS TRANSPORT DEVELOP ACT SRF 160 TOTAL TDA 99,676 21,273 - - - THEATER TCK SRCHG SRF 293 THEATER TCK SRCHG 21,500 21,500 19,708 21,581 9.5% PARK DVLPMNT CAP PRJ FND 310 PARK DEVELOPMENT 143,520 110,745 101,516 111,780 10.1% TOTAL CAPITAL PROJECTS FUNDS 264,696 153,518 121,225 133,361 10.0% DEBT SERVICE FUND: LIBRARY BOND DEBT SRV FND 400 PRINCIPAL 75,000 75,000 75,000 75,000 0.0% INTEREST 18,906 18,906 18,906 17,693 -6.4% OTHER 200 200 200 200 0.0% TOTAL LIBRARY BOND DEBT 94,106 94,106 94,106 92,893 -1.3% r r fs5991REVENUE Page 6 6/11/99 TITLE AGENCY FUNDS: LEONARD RD DEBT SER FUND 420 CAPITAL IMPR (PARK DIST) QUARRY CREEK TRUST FUND 700 INTEREST CA TV TRUST FUND 720 INTEREST INCOME PRK DST#2 DBT SR/AGNCY FD 730 SERVICES (LLA DISTRICTS) PRK DST#3 DBT SR/AGNCY FD 740 SERVICES (LLA DISTRICTS) DEPOSITS AGENCY FUND 800 DEPOSITS SARATOGA PFA AGENCY FUND 990 INTEREST INCOME TOTAL AGENCY FUNDS GRAND TOTAL CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% REVENUES FISCAL YEAR 1998-99 YEAR-TO-DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5!31/99 5/31/99 5/31/99 BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE 12,2b3 12,280 6,754 7,896 16.9% 350 350 321 305 -4.9% - 3,800 3,483 3,125 -103% 11,538 11,449 6,297 8,800 39.8% 168,225 175,498 96,524 96,028 -0.5% - 18,500 16,958 15,31? -9.?% 192,376 221,877 130,337 131,471 0.9% $ 10,711,861 $ 12,297,325 $ 9,954,251 $ 10,326,33b 3.7% REVENUE NOTES: (1) Traffic Safety Vehicle Fines -Budgeted very conservatively; actual fine revenues expected to be higher. (2) Development Fees -Development activity remains higher than originally, anticipated. (3) Tax Equity Allocation (TEA) -Final UUT-matching payment from Santa Clara County originally budgeted at only $300.000. (4) These revenues higher than originally budgeted. - (5) Disaster Recovery - FEMA refund in process, but not received yet. (6) Other Refunds and Reimbursements -Workers' compensation insurance premium refund not anticipated. (7) Interest Income -Budgeted very conservatively; actual interest is expected to be higher than budgeted. (8) Gas Tax (State Highway User's Tax) lower than originally budgeted. fs599\REVENUE Page 7 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% EXPENDITURES F U N D D E p T ITLE FISCAL YEAR 1998-99 1998-99 1998-99 1998-99 REVISED ESTIMATED ORIGINAL BUDGET ACTUAL BUDGET (if different) (if different) YEAR T0.DATE 5/31/99 5/31/99 ESTIMATE ACTUAL PERCENT (YTD) ACTUAL 5/31/99 ESTIMATE EXPENDITURE RECAP BY FUND 001 GENERAL FUND $ 4,283,616 $ 4,002,609 $ 4,685,242 $ 4,618,220 -1.4% SPECIAL REVENUE FUNDS 100 COPS SUP. LAW ENFORCEMENT' 72,944 87,212 38,746 40,016 3.3% 110 TRAFFIC SAFETY SRF 15,413 13,480 7,500 7,532 0.4% 150 STREETS&ROADS SRF 3,130,636 3,015,701 2,082,127 2,070,601 -0.6% 170 HILLSIDE REPAIR SRF 1,000 - - 36,445 100%+ 180 LANDSCAPE/LGTNGSRF 148,359 131,982 105,153 103,030 -2.0% 250 DEVELOPMENT SRF 1,312,499 1,312,312 756,441 712,773 -5.8% 260 ENVIRNMNTAL PRG SRF 480,980 384,937 266,013 270,591 1.7% 270 HOUSING 8c COMM DEV SRF 388,419 263,493 233,464 246,249 5.5% 290 RECREATION SRF 916,794 893,110 552,184 539,218 -2.3% 292 FACILITY OPS SRF 236,614 221,996 38,617 45,482 17.8% 710 HERITAGE PRSRVTN TRST FND - - - - TOTAL SPECIAL REVENUE FUN 6,703,658 6,324,223 4,080,245 4,071,937 -0.2% CAPITAL PROJECTS FUNDS: 160 TRANS DEV ACT SRF 98,103 - 5,000 4,800 -4.0% 293 THEATER TCK SRCHG SRF 125,080 122,063 80,275 85,229 6.2% 310 PARK DEVELOPMENT 567,000 125,700 77,104 70,024 -9.2% TOTAL CAPITAL PROJECTS FUN 790,183 247,763 162,379 160,053 -1.4% DEBT SERVICE FUND: "' 400 LIBRARY BONDS DEBT SVC 94,093 92,961 85,000 85,183 0.2% TOTAL DEBT SERVICE FUND 94,093 92,961 85,000 85,183 0.2% TOTAL AGENCY FUNDS 420 LEONARD ROAD DEBT SVC 12,263 12,631 12,375 12,493 1.0% 700 QUARRY CREEK PROJ ADM 2,500 34,500 35,000 34,460 -1.5% 720 C.A. TV TRUST FUND - ~~ - - 730 PARKING DIST #2 DEBT SVC ~ 11,538 11,000 11,000 10,932 -0.6% 740 PARKING DIST #3 DEBT SVC 168,225 167,975 166,681 167,843 0.7% 800 DEPOSIT AGENCY FUND - - - - 990 SARATOGA PUBL FIN AGNCY - - - - - TOTAL AGENCY FUNDS 194,526 226,106 225,056 225,728 0.3% TOTAL ALL FUNDS $ 12,066,076 $ 10,893,662 $ 9,237,921 $ 9,161,121 -0.8% fs599\EXPEND. Page 8 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% EXPENDITURES F U N D D E p T ITLE FISCAL YEAR 1998-99 1998-99 1998-99 1998-99 REVISED ESTIMATED ORIGINAL BUDGET ACTUAL BUDGET (if different) (if different) YEAR-TO-DATE 5!31/99 5/31/99 ESTIMATE ACTUAL PERCENT (YTD) ACTUAL 5/31/99 ESTIMATE 001 GENERAL FUND 1005 CITY COUNCIL - - 36,435 36,600 0.5% 1010 CONTINGENCY 200,000 - - - - 1015 CITY COMMISSIONS - - 57,482 49,158 -14.5% (10) 1020 CITY MANAGER'S OFFICE - - 209,182 186,310 -10.9% (10) 1025 CITY ATTORNEY 54,000 82,000 227,011 247,664 9.1 % (12) 1030 CITY CLERK - - 63,030 56,135 -10.9% 1035 EQUIPMENT OPERATIONS - - 220,251 226,681 2.9% 1040 FINANCIAL MANAGEMENT - - 332,273 335,482 1.0% 1045 I-IUMANRESOURCES - - 109,761 111,183 1.3% 1050 GENERAL SERVICES - - 100,049 94,279 -5.8% 1060 FACILITIES MAINTENANCE - - 263,424 271,389 3.0% 1065 MANAGEMENT INFORMATION SYS. - - 91,095 93,288 2.4% 2005 EMERGENCY PREPAREDNESS 28,901 31,689 27,729 24,300 -12.4% 2010 CODE ENFORCEMENT 123,109 114,972 40,710 38,883 -4.5% 2015 POLICE SERVICES 2,594,707 2,608,268 2,322,050 2,287,153 -1.5% 2025 ANIMAL CONTROL 16,458 15,422 13,735 12,515 -8.9% 3030 PARKS/OPEN SPACE 800,843 712,820 375,921 362,239 -3.6% (9) 3035 GENERAL ENGINEERING 244,150 201,307 114,215 106,745 -6.5% (9) 4005 ADVANCED PLANNING 94,664 93,649 28,074 26,211 -6.6% 7005 SENIOR SERVICES 54,689 50,560 - - - 7010 COMMUNITY SUPPORT 72,095 71,922 52,313 51,555 -1.4% 9010 CAPITAL PROJECTS-VESSING RD - .20,000 500 450 -10.0% TOTAL GENERAL FUND 4,283,616 4,002,609 4,685,242 4,618,220 -1.4% SPECIAL REVENUE FUNDS: 100 2030 COPS SUP. LAW ENFORCEMENT 110 2020 TRAFFIC SAFETY SRF 150 STREETS&ROADS 5RF 3005 STREET MAINTENANCE 3010 SIDEWALKS AND TRAILS 3015 TRAFFIC CONTROL 3020 FLOOD AND STORM DRAIN CONTRO 3025 MEDIANS AND PARKWAYS 5010 CONGESTION MANAGEMENT 9015 QUITO ROAD BRIDGE CAP RPOJ TOTAL STREETS&ROADS SRF 72,944 / 15,413 2,091,156 77,988 222,275 108,471 123,754 184,642 ~~~ zSn ,* 87,212 38,746 40,016 13,480 7,500 7,532 2, 031, 9 84 1, 618, 079 1, 62 8, 3 94 66,976 59,840 47,377 202,745 112,884 106,952 93,408 58,020 50,682 113,788 70,296 68,587 183,950 163,007 168,609 322,350 - - 3,015,701 2,082,127 2,070,601 3.3% 0.4% 0.6% -20.8% (9) -5.3% (9) -12.6% -2.4% 3.4% 0.6% fs599\EXPEND. Page 9 6/11/99 CITY OF SARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% EXPENDITURES F D U E N P D T TITLE 170 9017 HILLSIDE REPAIR SRF 180 LANDSCAPE/LGTNG SRF 250 DEVELOPMENT SRF 4010 ZONING ADMINSTRATION 4015 INSPECTION SERVICES 4020 DEVELOPMENT REGULATION TOTAL DEVELOPMENT SRF 260 ENVIRNMNTAL PRG SRF 5005 INTEGRATED WASTE MGMT 5015 STORM WATER MANAGEMENT TOTAL ENVIRNMNTAL PRG SR 270 HOUSING&COMM DEV SRF 7015 HCDA ADMINISTRATION 9027 ADA IMPROVEMENTS CAP PRO7 270 HOUSING & COMM DEV 5RF 290 RECREATION SRF 6005 RECREATTON 6010 TEEN SERVICES TOTAL RECREATION SERVICES 292 6020 FACILITY OPS SRF 710 1040 HERITAGE PRSRVTN TRST FND TOTAL SPECIAL REVENUE FUNDS fs599\EXPEND. FISCAL YEAR 1998-99 YEAR-TO-DATE PERCENT 1998-99 1998-99 (YTD) 1998-99 REVISED ESTIMATED ACTUAL ORIGINAL BUDGET ACTUAL 5!31/99 5/31/99 5/31/99 BUDGET (if different) (if different) ESTIMATE ACTUAL ESTIMATE 1,000 - - 36,445 100%+ (11) 148,359 131,982 105,153 103,030 -2.0% 551,368 516,920 281,677 281,868 0.1% 544,957 538,046 315,790 286,032 -9.4% 216,174 257,346 158,974 144,873 -8.9% 1,312,499 1,312,312 756,441 712,773 -5.8% 151,526 148,067 112,519 109,601 -2.6% 329,454 236,870 153,494 160,990 4.9% (9) 480,980 384,937 266,013 270,591 1.7% 338,419 213,493 202,631 214,494 5.9% 50,000 50,000 30,833 31,755 3.0% 388.419 263.493 233.464 246,249 5.5% 756,332 739,158 483,469 472,525 -2.3% 160,462 153,952 68,715 66,693 -2.9% 916,794 $93,110 552,184 539,218 -2.3% 236,614 221,996 38,617 45,482 17.8% 6,703,658 6,324,223 4,080,245 4,071,937 -0.2% t r. Page 10 6/11/99 CITY OF 5ARATOGA ELEVEN MONTHS ENDED MAY 31,1999 PERCENT OF YEAR ELAPSED =91.66% EXPENDITURES F D U E N P D T TITLE FISCAL YEAR 1998-99 1998-99 1998-99 1998-99 REVISED ESTIMATED ORIGINAL BUDGET ACTUAL BUDGET (if different) (if different) YEAR TO-DATE 5/31/99 5!31/99 ESTIMATE ACTUAL PERCENT (YTD) ACTUAL 5!31!94 ESTIMATE CAPITAL PROJECTS FUNDS 160 9016 TRANS DEV ACT SRF 98,103 5,000 4,800 -4.0% 293 6015 THEATER TCK SRCHG 5RF 125,080 122,063 80,275 85,229 6.2% 310 9031 PARK DEVELOPMENT 567,000 125,700 77,104 70,024 -9.2% TOTAL CAPITAL PROJECTS FUN 790,183 247,763 162,379 160,053 -1.4% DEBT SERVICE FUND: 400 8015 LIBRARY BONDS DEBT SVC 94,093 92,961 85,000 85,183 0.2°l° AGENCY FUNDS: - 420 8020 LEONARD ROAD DEBT SVC _ 700 9010 QUARRY CREEK PROJ ADM 720 1040 C.A. TV TRUST FUND 730 8005 PARKING DIST #2 DEBT SVC 740 8010 PARKING DIST #3 DEBT SVC 990 1040 SARATOGA PUBL FIN AGNCY TOTAL AGENCY FUNDS TOTAL EXPENDITURES 12,263 12,631 12,375 12,493 1.0% 2,500 ~ 34,500 35,000 34,460 -1.5% 11,538 11,000 11,000 10,932 -0.6°t° 168,225 R; 167,975 166,681 167,843 0.7% r. i 194,526 226,106 225,056 225,728 0.3% $ 12,066,076 $ 10,893,662 $ 9,231,921 $ 9,161,121 -0.8% EXPENDITURE NOTES: (9) Various Public Works Programs -Salary savings. (10) Salary savings (11) Project carried over from previous year (12) Saratoga Creek litigation settlement costs. fs599\EXPEND. Page I1 6/11/99 CITY OF SARATOGA Cash and Investment Report Balance as of May 31, 1999 Anticipated Acquisition FDR" Book Market Par Matnrity Monthly Tvpe In.4titntion Date Rating Value Value"* Value Yeild Date Term Earnings Unrestricted Cash & Investments: Cash: DD Comerica Bank -Savings N/A AAA $312,391 $312,391 $312,391 2.000% Revolving 1 $521 CK Comerica Bank -General Checking N/A AAA 93,029 93,029 93,029 0.000% Revolving 1 N/A CK Comerica Bank -Payroll Checking N/A AAA 10,872 10,872 10,872 0.000% Revolving 1 N/A CK Comerica Bank -Petty Cash N/A AAA 959 959 959 0.000% Revolving I N/A Subtotal Cash 417,251 a 417,251 417,251 1.497% 1 521 L.A.I.F. & Investments: MF L.A.I.F. N/A N/A 8,370,890 b 8,416,485 8,370,890 5.086% Revolving 90 35,479 CD Saratoga National Bank 07/03/98 AAA 500,000 500,000 500,000 5.900% 07/03/99 365 2,458 CD Heritage Bank of Commerce 10/14/98 AAA 531,358 531,358 531,358 5.650% 10/14/99 365 2,502 Subtotal CDs 1,031,358 1,031,358 1,031,358 5.771% 730 4,960 Subtotal L.A.I.F. & Investments 9,402,248 9,447,843 9,402,248 5.136% 410 40,439 Subtotal Unrestricted Cash & Investments 9,819,499 9,865,094 9,819,499 4.982% 206 40,959 Restricted Cash & Investments: SV Saratoga National Bank -CDBG N/A AAA 169,055 169,055 169,055 2.530% Revolving 1 356 CK Wells Fazgo Bank -CDBG N/A AAA 23,918 23,918 23,918 0.000% Revolving I N/A CK Welis Fazgo Bank -CDBG N/A AAA 8,171 8,171 8,171 0.000% Revolving 1 N/A Subtotal Restricted Cash & Investments 201,144 201,144 201,144 0.177% 1 356 Total Cash and Investments S1,U,020;6a3 $1Q,066,238 S1e;02Q,643 4:925%; A;v~ Yidd: 104 543;316. Benchmark Yield Com arison 3 Month Trees 4.55% 6 Month Trees 4.93°/s Schedule of Maturities: Reserve Analysis: General Fund Reserve requirement adopted 6/25/97: $2,000,000 - Immediate $9,520,643 General Fund Balance as of 5/31/99 $6,028,738 FY 1999-2000 500,000 Available Funds: Total $10,020,643 Unrestricted Pooled Cash & Investments available for current yeaz expenses in all fund $9,819,499 (Includes unrestricted funds maturing within the current fiscal year) Maturity General Fund Loans Receivable: ,*' Principal Rate Date Term Hakone Foundation # ~ $210,743 6.500% 03/01/2004 3,650 NOTE5: * FDR =The Financial Directory rating is based on computer analysis of prime financials reported quarterly by the institutions to the Federal Reserve Boazd and the Federal Home Loan Bank Boazd. Ratings based on information released July 1998. !*Mazket values for U.S. Treasury Notes provided by State Street Bank and Tntst Company. # This loan is noted for memorandum purposes only. The loan is amortized per the agreement with the Hakone Foundation. No payments are received. This report reflects Pooled Cash, Investments and Restricted Cash which are available resources to fund operations, debt service and capital improvements. Other interest bearin assets (notes receivable) aze listed above. Debt service reserve funds held by trustees are restricted pursuant to indenture covenants and have been excluded from this report. Pursuant to Government Code Section 53646, the City's investment portfolio is in compliance with the adopted investment policy and there aze adequate resources to meet anticipated pool expenditure requirements for the next six months. lZ~ ubmrtted by: Approved by: 6/11/99 °.4ep°h\(mmrdrov° (Unaudited Results)