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From YouTube: San Bruno City Council Meeting November 12, 2013 10c. First Quarter Financial Update Report
Description
San Bruno City Council Meeting November 12, 2013
10c. First Quarter Financial Update Report
B
Thank
You
honorable
mayor
members,
in
the
City
Council.
The
purpose
of
my
presentation
this
evening
is
twofold.
The
first
is
to
provide
you
with
the
first
quarter,
financial
update
and
then,
secondly,
is
to
describe
the
action
being
requested
through
the
resolution
before
you
this
evening.
The
first
quarter
financial
update,
is
typically,
we
don't
typically
see
a
lot
of
indicators
at
the
first
quarter,
primarily
as
a
result.
B
At
the
timing
of
the
receipt
I've
made
many
of
the
city's
major
revenue
sources,
the
most
notable
one
being
property
tax
and
the
vehicle
license
fees
both
of
those
are
received
into
primarily
to
annual
installments,
the
first
in
December,
the
second
in
April.
So
at
this
point
in
time,
we
have
nothing
to
note
and
no
monies
received
yet
in
property
tax.
B
However,
the
total
general
fund
revenues
are
at
seventeen
percent
of
budget,
which
is
really
they
tend
to
hover
between
the
fifteen
to
eighteen
percent
market,
the
first
quarter,
so
the
seventeen
percent
of
budget
is
where
we
anticipate
to
be
at
this
point
in
time
of
the
year.
There's
a
few
highlights.
I
would
like
to
point
out
the
first
being
the
hotel,
motel
occupancy
tax
or
t
OT.
B
The
amount
of
529
thousand
reflects
the
receipt
of
only
two
months
of
t
OT
revenues
because
of
the
delay
in
billing
and
receiving
those,
so
we're
always
a
month
behind,
so
that
529
and
puts
us
at
twenty-three
percent
of
budget
for
the
current
fiscal
year,
which
is
a
good
good
amount,
keep
in
mind.
While
that
looks
good
right
now.
Do
you
keep
in
mind
that
the
winter
months
do
10?
We
do
tend
to
see
etot
sort
of
drop
off
and
the
revenues
tend
to
slow
down
a
little
bit.
B
B
This
number
is
primarily
a
result
of
an
increase
in
the
number
of
sizable
businesses
that
have
located
over
at
the
Bay
Hill
office
park,
and
also
business
tax
is
collected
at
the
beginning
of
the
fiscal
year.
So
we
tend
to
receive
all
those
monies
in
July
in
August,
and
we've
received
very
small
amounts
throughout
the
remainder
of
the
year.
So
the
vast
majority
of
businesses
tax
revenues
have
been
received
to
date.
B
The
remaining
amount,
the
difference
between
the
budget
and
what
you're
seeing
there
is
the
airport
parking
tax,
which
is
also
included
in
this
category
and
that's
billed
and
received
quarterly,
so
that
amount
will
continue
to
receive
throughout
the
year
and
put
us
at
budget
by
year-end.
I
would
anticipate
moving
on
to
the
expenditures
all
of
the
departments
are
really
operating
and
their
expenditures
are
where
I
would
anticipate
them
to
be.
At
this
point
in
time,
during
the
fiscal
year,
total
general
fund
expenditures
are
at
twenty-three
percent
of
budget.
B
A
couple
departments
are
turning
slightly
above
and
those
are
for
explainable
reasons,
the
first
in
engineering
and
streets.
We
do
pay
as
assessment
and
annual
assessment
to
see
keg
that
is
paid
during
the
first
quarter,
so
that
money
is
spent
up
front
so
that
trend
above
budget
is
as
a
result
of
that
expenditure,
as
well
as
in
recreation.
B
So
while
we
are
slightly
turning
slightly
above
budget,
we
would
anticipate
a
drop
off
during
the
winter
months
wastewater
revenues
at
twenty-seven
percent
just
slightly
above
the
budget.
In
that
category
and
cable
television
revenues
are
trending
at
twenty-two
percent
of
budgets,
so
they
are
slightly
below
where
they
were
at
this
point
last
year.
However,
on
the
same
token,
the
expenditures
in
the
department
are
also
training
below
budget
at
twenty-two
percent,
so
revenues
over
expenditures.
Our
revenues
are
still
outpacing
expenditures
in
the
cable
department.
B
As
of
the
end
of
the
first
quarter
and
finally,
stormwater
ABS
collected
on
the
property
tax
roll,
so
we
don't
see
the
first
installment
until
December,
so
there's
nothing
to
note
there.
Otherwise,
all
the
expenditures
within
the
enterprises
are
within
the
expected
threshold
for
the
first
quarter,
a
similar
story
with
internal
service
funds
that
the
internal
service
funds
are
funded
just
through
interdepartmental
transfers,
as
so,
the
25
percent
is
just
the
result
of
standard
transfers
every
month
that
put
those
at
twenty-five
percent
and
on
the
expenditure
side,
all
our
tracking.
B
As
anticipated,
you
will
see
that
the
self-insurance
fund
expenditures
at
sixty
percent
of
budget
puts
them
all
above
that
twenty-five
percent
marker
and
that's
really
the
result
of
the
city
paying
premiums
for
the
liability
and
workers
compensation
programs
at
the
beginning
of
the
fiscal
year.
So
those
are
costs
that
have
been
expended
already,
but
we
will
not
see
those
again
this
fiscal
year,
so
those
will
that
budget
will
remain
as
it
should.
So.
B
Moving
on
to
the
council
action.
That's
before
you
this
evening
the
city
uses
purchase
orders
to
earmark
and
encumber
budgeted
funds
for
the
purchase
of
equipment
and
contractual
agreements
of
significant
dollar
mods.
So
it's
essentially
anything
over
five
thousand
dollars.
We
use
a
purchase
order
to
encumber
the
funds
oftentimes.
These
major
purchases
and
contracts
will
span
more
than
one
fiscal
year
since
operating
budgets
do
not
carry
forward
from
one
fiscal
year
to
the
next.
B
It
is
necessary
to
amend
the
current
fiscal
year
budget
to
ensure
that
the
previously
authorized
funds
are
available
in
the
current
year
to
cover
the
cost
of
uncompleted
projects
and
continuing
obligations
at
the
end
of
the
2012-13
fiscal
year.
A
total
of
nine
point,
six
million
about
standing
purchase,
orders
remain
and
the
large
dollar
amount
of
that
is
really
with
the
emergency
and
disaster
fund,
which
is
the
crestmore.