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AGENDA ORO VALLEY
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
MAY 21, 2024
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER
ROLL CALL
PLEDGE OF ALLEGIANCE
CALL TO AUDIENCE - at this time, any member of the public is allowed to address the Commission on any
issue not listed on today’s agenda. Pursuant to the Arizona open meeting law, individual Commission
members may ask Town staff to review the matter, ask that the matter be placed on a future agenda, or
respond to criticism made by speakers. However, the Commission may not discuss or take legal action on
matters raised during "Call to Audience." In order to speak during "Call to Audience", please specify what
you wish to discuss when completing the blue speaker card.
STAFF LIAISON REPORT
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE APRIL 16, 2024 REGULAR SESSION MEETING MINUTES
2.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 23/24 FINANCIAL UPDATE
THROUGH MARCH 2024 (Please reference attachments)
COUNCIL LIAISON COMMENTS
ADJOURNMENT
POSTED: 5/17/24 AT 5:00 PM by dt.
When possible, a packet of agenda materials as listed above is available for public inspection at least 24 hours prior
to the Commission meeting in the Town Clerk's Office between the hours of 8:00 a.m. – 5:00 p.m.
The Town of Oro Valley complies with the Americans with Disabilities Act (ADA). If any person with a disability needs
any type of accommodation, please notify the Town Clerk’s Office at least five days prior to the Commission meeting
at 229-4700.
INSTRUCTIONS TO SPEAKERS
Members of the public have the right to speak during any posted public hearing. However, those items not
listed as a public hearing are for consideration and action by the Commission during the course of their
business meeting. Members of the public may be allowed to speak on these topics at the discretion of the
Chair.
If you wish to address the Commission on any item(s) on this agenda, please complete a blue speaker card located
on the Agenda table at the back of the room and give it to the Recording Secretary. Please indicate on the
speaker card which item number and topic you wish to speak on, or if you wish to speak during “Call to
Audience,” please specify what you wish to discuss when completing the blue speaker card.
Please step forward to the podium when the Chair announces the item(s) on the agenda which you are interested in
addressing.
1. For the record, please state your name and whether or not you are a Town resident.
2. Speak only on the issue currently being discussed by the Commission. Please organize your speech, you will only
be allowed to address the Commission once regarding the topic being discussed.
3. Please limit your comments to 3 minutes.
4. During “Call to Audience”, you may address the Commission on any issue you wish.
5. Any member of the public speaking must speak in a courteous and respectful manner to those present.
Thank you for your cooperation.
“Notice of Possible Quorum of the Oro Valley Town Council, Boards, Commissions and Committees: In accordance
with Chapter 3, Title 38, Arizona Revised Statutes and Section 2-4-4 of the Oro Valley Town Code, a majority of the
Town Council, Board of Adjustment, Historic Preservation Commission, Parks and Recreation Advisory Board,
Stormwater Utility Commission, and Water Utility Commission may attend the above referenced meeting as a
member of the audience only.”
Budget and Finance Commission 1.
Meeting Date:05/21/2024
Submitted By:Melissa Flores, Legal
SUBJECT:
REVIEW AND APPROVAL OF THE APRIL 16, 2024 REGULAR SESSION MEETING MINUTES
RECOMMENDATION:
Staff recommends approval.
EXECUTIVE SUMMARY:
N/A
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
I MOVE to approve the April 16, 2024 regular session meeting minutes.
Attachments
Draft Minutes 041624
D R A F T
MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
APRIL 16, 2024
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:01 PM
CALL TO ORDER
ROLL CALL
Present: Jennifer Carr, Vice Chair
Joyce Garland, Member
Michael Mason, Chair
Absent:Gerald LeMay, Member
Matthew Miller, Member
Staff Present:Joe Winfield, Mayor
Jeff Wilkins, Town Manager
David Gephart, Chief Financial Officer
Wendy Gomez, Deputy Finance Director
Chris Hutchison, Senior Budget Analyst
Tobin Sidles, Legal Services Director
PLEDGE OF ALLEGIANCE - Chair Mason led the group in the Pledge of Allegiance
CALL TO AUDIENCE - No comments were received.
STAFF LIAISON REPORT - Chief Financial Officer, David Gephart, reported on the following:
- Staff has been busy preparing the Town Manager's Recommended Budget for distribution, and it will be
distributed amongst Commissioners later this month.
- At the last Town Council Meeting, the Town Council approved the replacement of the bridge at Pusch Ridge
Golf Course Hole 7, and the Town Council approved using the Community Center Reserves to accomplish that
replacement.
- At the next Town Council Meeting the following items will be addressed:
- Review of the Vistoso Trails Nature Preserve Master Plan;
- Funding of a replacement shade structure at Steam Pump Ranch that was hit by a motorist; and
- Review the Town's Agreement with VisitTucson.
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE MARCH 19, 2024 REGULAR SESSION MEETING MINUTES
4/16/24 Minutes, Budget and Finance Commission Regular Session {PageNumber}
Motion by Vice Chair Jennifer Carr, seconded by Member Joyce Garland to approve the March 19,
2024 Regular Session Meeting Minutes as written.
Vote: 3 - 0 Carried
2.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 23/24 FINANCIAL UPDATE
THROUGH FEBRUARY 2024
Chris Hutchison, Senior Budget Analyst, presented on Agenda Item Number 2. No discussion ensued.
3.DISCUSSION AND POSSIBLE RECOMMENDATION OF DRAFT PUBLIC SAFETY PERSONNEL
RETIREMENT SYSTEM (PSPRS) PENSION FUNDING POLICY FOR FISCAL YEAR ENDING JUNE
30, 2025
David Gephart, Chief Financial Officer, presented on Agenda Item Number 3. Discussion ensued
amongst Commissioners and Staff.
Motion by Vice Chair Jennifer Carr, seconded by Member Joyce Garland to approve the changes to
the Draft Public Safety Personnel Retirement System (PSPRS) Pension Funing Policy for Fiscal Year
Ending June 30, 2025.
Vote: 3 - 0 Carried
4.REVIEW, DISCUSSION AND POSSIBLE ACTION ON PROPOSED DRAFT FINANCIAL AND
BUDGETARY POLICIES
David Gephart, Chief Financial Officer, leads discussion amongst Commissioners and Staff.
Motion by Vice Chair Jennifer Carr, seconded by Member Joyce Garland to recommend draft financial
and budgetary policies to Town Council for approval as presented.
Vote: 3 - 0 Carried
5.PRESENTATION AND POSSIBLE DISCUSSION REGARDING THE TOWN'S FIVE-YEAR FINANCIAL
FORECAST THROUGH FY 2028/29
David Gephart, Chief Financial Officer presents on Agenda Item Number 5. Discussion ensued amongst
Commissioners and Staff. Commissioner Lemay arrives at 5:53 PM.
COUNCIL LIAISON COMMENTS
Mayor Winfield provided the following comments:
- The Town of Oro Valley is in our 50th Year Anniversary and the Town has recently had some events:
- On April 6, the Town had a parade.
- On April 13, the community wide celebration at James D. Kriegh Park.
- Parks and Recreation took most of the weight for the celebrations, as well as Oro Valley Police
Department.
- This month was when the Town was officially incorporated.
- The Mayor further encourages the Commissioners to go onto the Oro Valley website to view the videos,
articles, and podcasts that have been made available for the 50th Anniversary.
- Oro Valley's Path Forward is still underway and there have been 3,000 individuals whom responded to
the survey, as well as, 6,000 comments received. This far exceeds community input from the previous
General Plan.
Discussion held amongst Commissioners.
4/16/24 Minutes, Budget and Finance Commission Regular Session {PageNumber}
ADJOURNMENT
Motion by Member Gerald LeMay, seconded by Vice Chair Jennifer Carr to adjourn the meeting at
6:03 P.M.
Vote: 4 - 0 Carried
I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the
Town of Oro Valley Budget and Finance Commission of Oro Valley, Arizona held on the 16 day of April, 2024. I
further certify that the meeting was duly called and held and that a quorum was present.
Dated this 16 day of April, 2024.
___________________________
Melissa Flores
Legal Secretary
4/16/24 Minutes, Budget and Finance Commission Regular Session {PageNumber}
Budget and Finance Commission 2.
Meeting Date:05/21/2024
Submitted By:Christopher Hutchison, Finance
SUBJECT:
PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 23/24 FINANCIAL UPDATE THROUGH
MARCH 2024 (Please reference attachments)
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
Please reference attachments for this item.
BACKGROUND OR DETAILED INFORMATION:
N/A
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
N/A
Attachments
Consolidated March 2024 Monthly Financial Report
Town Manager’s Office
TOWN COUNCIL REPORT
DATE: May 21, 2024
TO: Mayor and Council
FROM: Jeff Wilkins, Town Manager
David Gephart, Chief Financial Officer
SUBJECT: March 2024 Financial Update
This financial update is intended to provide an overview and status of financial results for the
Town’s selected funds through March 2024 for fiscal year 2023/24. Please note that a ll amounts
are preliminary, un-audited and subject to change. Additionally, estimates reflected in
monthly financial updates may not include any adjusting audit entries required at year-
end.
EXECUTIVE SUMMARY
Revenues and expenditures are performing well compared to budget. Further details are as
follows:
General Fund
In the General Fund (see attachment A), revenues total $43.6 million or 75.9% of budget, while
uses are at $44.9 million or 71.5% of budget.
Highway Fund
In the Highway Fund (see attachment B), sources total $4.7 million or 79.9% of budget, while
expenditures total $5.1 million or 79.2% of budget.
Community Center Fund
In the Community Center Fund (see attachment C-1, C-2 and C-3), revenues total $8.4 million or
86.7% of budget, while uses total $8.1 million or 80.2% of budget.
BACKGROUND AND DETAILED INFORMATION
GENERAL FUND
Attachment A shows General Fund revenues and expenditures through March, other financing
uses and year-end estimates for each category. The estimated year-end projections in the
General Fund are as follows:
Revenues $59,002,229
Less:
Expenditures ($49,490,161)
Other Financing Uses ($12,274,644)
Preliminary Estimated Decrease in Fund Balance: ($2,762,576)*
Estimated FY24 Year-End Fund Balance $21,035,916**
*The estimated decrease in fund balance is due to a budgeted transfer of $10 million to the Capital
Fund for CIP projects.
**The ending fund balance is currently estimated to exceed the 30% reserve policy by $5.9 million.
General Fund Revenues
Local sales tax collections in the General Fund total $20.2 million or 76.5% of the budgeted
amount of $26.4 million and overall are performing better than anticipated. Retail
collections total $6.9 million, which is 1.9% greater than the same time period last fiscal
year. Restaurant/bar collections total $1.9 million which is 0.03% greater than the same
time period last fiscal year. Bed tax collections total $1.4 million which is 16% less than the
same time period last fiscal year. Construction sales tax collections total $4.0 million
through March, which is 7.4% less than collections from the same time period last fiscal
year. (The budgeted decrease for construction sales tax is 16.6%). Total local sales tax
revenue in the General Fund is expected to come in about $1.1 million or 4.0% above
budget due to stronger performance in construction, remote seller, and utilities. The low
growth in retail sales tax is more than made up by the increase in remote seller sales tax
which indicates a greater shift to online purchases from brick-and-mortar stores compared
to the prior year. Please see attachment E for detailed information on General Fund local
sales tax collections.
State shared revenues total $16.9 million or 73.8% of the budget amount of $23.0 million.
These revenue sources are comprised of state shared sales taxes, state shared income
taxes, auto-lieu fees, and Smart and Safe shared taxes. At this time, these revenues are
forecasted to come in 0.2% under budget due to lower trending vehicle license tax, state
income tax, and Smart & Safe tax.
License and permit revenues total about $1.7 million or 96.5% of the budget amount of
$1.7 million. A total of 128 Single Family Residential (SFR) permits have been issued
through March (119 budgeted). License and permit revenues are expected to come in
$271,000 above budget, due to greater than expected commercial and residential
development activity.
Charges for services revenues total $2.1 million or 66.7% of the budget amount of $3.2
million. Cost allocation charges to the Town’s enterprise funds for services provided, as
well as Parks & Recreation fees, make up the bulk of this revenue category. Charges for
services are forecasted to come in about $353,000 or 11.0% below budget due to a
reduction in the enterprise service charge, lower-than-expected engineering plan review
fees and court fees, and no transit farebox revenues.
Other revenues are forecasted to come in about $478,000 above budget due to a rebate
received from the Arizona Municipal Risk Retention Pool (AMRRP) and greater than
expected interest income.
General Fund Uses
General Fund uses total $44.9 million or 71.5% of budget through March.
Personnel costs are forecasted to come in about $952,000 or 3.3% less than budget, due
to a combination of vacancy savings, position refills and budgeted PSPRS contributions.
Operations and maintenance are forecasted to come in about $86,000 or 0.6% less than
budget, due to savings in travel and training and outside professional services.
Capital costs are forecasted to come in on budget.
Transfers out of the General Fund are expected to end the fiscal year on budget. Note that
actuals through March reflect the budgeted transfer to debt service and 3/4 of the budgeted
transfer to the Capital Fund for CIP.
HIGHWAY FUND
Attachment B shows Highway Fund revenues and expenditures through March, other financing
sources, and year-end estimates for each category. The estimated year-end projections in the
Highway Fund are as follows:
Revenues $4,407,826
Transfers In $1,500,000
Less:
Expenditures ($6,422,580)
Preliminary Estimated Decrease in Fund Balance: ($514,754)
Estimated FY24 Year-End Fund Balance $364,178
Highway Fund Revenues
State shared highway user funds (HURF) total about $3.1 million or 71.2% of the budget
amount of $4.3 million. These revenues are projected to come in about 135,000 or 3.1%
below budget at this time.
Interest income is expected to come in at a favorable budget variance of $100,000, due
primarily to earnings in the State’s Local Government Investment Pool (LGIP).
Other minor revenues in the Highway Fund are expected to come in at a favorable budget
variance of $9,826 due to insurance recoveries.
Highway Fund Expenditures
Highway Fund expenditures through March are at $5.1 million or 79.2% of the adopted
budget of $6.5 million.
Personnel costs are forecasted to come in about $57,000 or 4.5% under budget, due to a
combination of vacancy savings and position refills.
Operations and maintenance are forecasted to come in $118,000 or 11.7% over budget
due to greater than expected outside professional services and street maintenance costs.
Capital costs are forecasted to come in $107,000 or 2.6% under budget due to savings in
equipment purchases and accident repairs.
COMMUNITY CENTER FUND
Attachment C-1 shows consolidated Community Center Fund revenues and expenditures through
March, other financing uses, and year-end estimates for each category.
Attachment C-2 shows the monthly line-item detail for the contractor-managed operations,
specifically revenues and expenditures associated with golf, and food and beverage operations.
The totals in the revenue and expenditure categories in attachment C-2 tie to the contracted
operating revenues and expenditures in attachment C-1.
Attachment C-3 shows contractor operations for 36-hole, Pusch Ridge and F&B separately, as
well as capital investments for golf, half cent sales tax collections, and HOA contributions.
The estimated year-end projections in the Community Center Fund are as follows:
Revenues $10,635,414
Less:
Expenditures ($8,458,035)
Transfers Out ($1,717,203)
Preliminary Estimated Increase in Fund Balance: $460,176
Estimated FY24 Year-end Fund Balance $1,468,409
Community Center Fund Revenues
Revenues in the Community Center Fund through March total about $8.4 million or 86.7%
of the budget amount of $9.7 million.
Contracted operating revenues total $4.5 million as of March, which is about $679,000 or
17.8% greater than the same time last fiscal year. Contracted revenues are estimated to
come in $574,000 or 12.5% over budget mostly due to member dues and greens fees.
Town operating revenues through March are at about $934,000 or 79.4% of the budget
amount of $1.2 million. Town operating revenues are expected to end the fiscal year about
$250,000 higher than budget due mainly to member dues. Recreation programs, daily
drop-ins and facility rental income are also expected to exceed budget expectations.
Local sales tax revenues through March total about $2.8 million or 75.1% of the budget
amount of $3.7 million. These collections are currently projected to come in $101,000 or
2.7% above budget, due to positive trends in the remote seller category.
Community Center Fund Uses
Expenditures in the Community Center Fund total $6.4 million or 76.2% of the budgeted
amount of $8.4 million.
Contracted operating expenditures total $4.0 million, or 79.7% of the budgeted amount of
$5.0 million. Contracted expenditures are currently estimated to come in 6.3% over budget
due to greater than expected utilities, labor costs, and cost of sales.
Town operating expenditures total about $1.3 million or 76.1% of budget and are currently
estimated to come in approximately $115,000 over budget due to trending of personnel
costs, outside professional services, and contracted program instructors.
Capital expenditures total about $1.2 million or 66.7% of budget and are currently
estimated to come in approximately $412,000 under budget due to $540,802 of capital
projects expected to carry over into next fiscal year, namely the Community Center flat roof
surface replacement, restaurant cooler/freezer modernization, and Vistoso Trails Nature
Preserve safety improvements. The budget carryover is partially offset by greater than
expected expenditures on equipment.
Transfers out are expected to end the year on budget. Note that actuals through March
reflect the full year budgeted transfer out to debt service.
The Town is not expecting any year-end sales tax support for golf operations for the current fiscal
year. Contracted operations have a projected net loss of $95,697 before outside HOA
contributions of $159,050, and local sales taxes generated from golf related operations estimated
at $131,015.
ATTACHMENTS
A. Additional details on the General Fund
B. Additional details on the Highway Fund
C. C-1, C-2, and C-3 for additional details on the Community Center Fund and
golf operations
D. Fiscal year-to-date consolidated summary for all Town funds
E. Breakdown of monthly local sales tax for the General Fund
F. Breakdown of monthly state shared revenue collections for the General Fund
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Revenues `
Amount Percent
Local Sales Tax 20,186,384$ 20,200,896$ 26,398,318$ (6,197,422)$ 77% 27,466,094$
State Shared Revenues 14,043,976 16,939,798 22,953,222 (6,013,424) 74% 22,911,519
Licenses & Permits 2,197,033 1,657,292 1,717,118 (59,826) 97% 1,988,582
Grants 453,583 361,654 657,415 (295,761) 55% 749,751
Intergovernmental 1,093,301 1,372,604 1,869,500 (496,896) 73% 1,869,500
Charges for Service 2,056,809 2,136,708 3,204,246 (1,067,538) 67% 2,851,256
Other Revenue 746,476 956,155 688,000 268,155 139% 1,165,527
Total Revenues 40,777,562$ 43,625,106$ 57,487,819$ (13,862,713)$ 76% 59,002,229$
Uses
Amount Percent
Personnel Services 23,188,876$ 25,234,346$ 35,698,399$ 10,464,053$ 71% 34,746,544$
Operations and Maintenance 8,921,789 9,717,899 14,149,058 4,431,160 69% 14,063,360
Capital Outlay 181,164 290,289 680,257 389,968 43% 680,257
Transfers Out 11,048,965 9,636,644 12,274,644 2,638,000 79% 12,274,644
Total Uses 43,340,794$ 44,879,178$ 62,802,358$ 17,923,180$ 71% 61,764,805$
Change in Fund Balance
Total Revenues 40,777,562$ 43,625,106$ 57,487,819$ 59,002,229$
Total Uses (43,340,794) (44,879,178) (62,802,358) (61,764,805)
Change in Fund Balance (2,563,232)$ (1,254,072)$ (5,314,539)$ (2,762,576)$
Beginning Fund Balance 23,798,492$
Estimated Ending Fund Balance 21,035,916$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
FY 2023/24
Budget
Year End
Estimate
Year End
Estimate
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
FY 2022/23
Actuals
FY 2023/24
Actuals
ATTACHMENT A
Page 1 OF 6
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Local Sales Tax Revenue
Amount Percent
Construction 4,357,729$ 4,034,235$ 4,609,182$ (574,946)$ 88% 5,009,182$
Utilities 2,890,476 3,199,079 3,721,616 (522,537) 86% 4,099,165
Retail 6,781,805 6,912,095 9,339,301 (2,427,206) 74% 9,327,890
Bed Tax 1,674,294 1,406,490 2,384,479 (977,989) 59% 2,302,685
Restaurant & Bar 1,947,472 1,947,997 2,596,724 (648,727) 75% 2,648,586
Other 2,165,839 2,346,113 2,982,017 (635,904) 79% 3,355,556
Cable Franchise 368,769 354,887 765,000 (410,113) 46% 723,030
Local Sales Tax Total 20,186,384$ 20,200,896$ 26,398,318$ (6,197,422)$ 77% 27,466,094$
State Shared Revenue
Amount Percent
State Income Tax 6,812,041$ 9,584,611$ 12,839,525$ (3,254,914)$ 75% 12,779,535$
State Sales Tax 5,217,060 5,408,254 7,207,659 (1,799,405) 75% 7,411,231
County Auto Lieu 1,797,133 1,810,738 2,582,388 (771,650) 70% 2,428,421
Smart and Safe 126,622 136,194 323,650 (187,456) 42% 292,332
State Shared Total 13,952,856$ 16,939,798$ 22,953,222$ (6,013,424)$ 74% 22,911,519$
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$9.6
$5.4
$1.8
$0.1
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
State Income Tax State Sales Tax County Auto Lieu Smart and SafeMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$4.0
$3.2
$6.9
$1.4 $1.9 $2.3
$0.4
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
$10.0
Millions FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
No explanation necessary
ATTACHMENT A
Page 2 OF 6
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Licenses & Permits Revenue
Amount Percent
Business Licenses & Permits 190,837$ 193,134$ 205,000$ (11,866)$ 94% 205,000$
Residential Building Permits 775,160 986,106 1,090,118 (104,012) 90% 1,210,582
Commercial Building Permits 963,174 338,520 250,000 88,520 135% 400,000
Other Building Permits and Fees 267,861 139,532 172,000 (32,468) 81% 173,000
Licenses & Permits Total 2,197,033$ 1,657,292$ 1,717,118$ (59,826)$ 97% 1,988,582$
Grants Revenue
Amount Percent
Federal grants 399,594$ 238,003$ 582,415$ (344,412)$ 41% 602,265$
State Grants 53,989 123,651 75,000 48,651 165% 147,486
Grants Total 453,583$ 361,654$ 657,415$ (295,761)$ 55% 749,751$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$0.2
$1.0
$0.3
$0.1
$0.0
$0.5
$1.0
$1.5
Business
Licenses &
Permits
Residential
Building Permits
Commercial
Building Permits
Other Building
Permits and
FeesMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$0.2
$0.1
$0.0
$0.2
$0.4
$0.6
$0.8
Federal grants State GrantsMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
No explanation necessary
ATTACHMENT A
Page 3 OF 6
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Intergovernmental Revenue
Amount Percent
School Resource Officers 58,789$ 90,000$ 90,000$ -$ 100% 90,000$
RTA Reimbursements 1,031,445 1,282,604 1,774,000 (491,396) 72% 1,774,000
PC Library District Reimburse 3,067 - 5,500 (5,500) - 5,500
Intergovernmental Total 1,093,301$ 1,372,604$ 1,869,500$ (496,896)$ 73% 1,869,500$
Charges for Service Revenue
Amount Percent
Enterprise Funds Cost Allocation 1,236,724$ 1,240,451$ 1,897,065$ (656,614)$ 65% 1,653,935$
Recreation Fees 489,596 625,150 796,840 (171,690) 78% 853,441
Development Fees 91,407 57,778 116,080 (58,302) 50% 69,100
Court Fees 122,235 98,024 194,400 (96,376) 50% 125,000
Other 116,846 115,305 199,861 (84,557) 58% 149,780
Charges for Service Total 2,056,809$ 2,136,708$ 3,204,246$ (1,067,538)$ 67% 2,851,256$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$0.1
$1.3
$0.0
$0.0
$0.5
$1.0
$1.5
$2.0
School Resource
Officers
RTA Reimbursements PC Library District
ReimburseMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$1.2
$0.6
$0.1 $0.1 $0.1
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
Enterprise
Funds Cost
Allocation
Recreation
Fees
Development
Fees
Court Fees OtherMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
ATTACHMENT A
Page 4 OF 6
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Other Revenue
Amount Percent
Fines 65,830$ 45,232$ 125,000$ (79,768)$ 36% 60,000$
Interest Earnings 201,624 473,569 300,000 173,569 158% 550,000
Miscellaneous 479,022 437,354 263,000 174,354 166% 555,527
Other Revenue Total 746,476$ 956,155$ 688,000$ 268,155$ 139% 1,165,527$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$0.0
$0.5 $0.4
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
Fines Interest Earnings MiscellaneousMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
ATTACHMENT A
Page 5 OF 6
ATTACHMENT A
General Fund
Financial Status Fiscal Year to Date: March 2024
Expenditures by Department
Amount Percent
Clerk 316,251$ 295,392$ 419,897$ 124,505$ 70% 410,155$
Community & Econ. Dev. 2,265,753 2,560,862 3,882,445 1,321,583 66% 3,666,717
Council 168,962 155,493 209,203 53,710 74% 209,203
Finance 680,357 610,776 850,456 239,680 72% 820,840
Non-Departmental 2,574,185 1,768,691 2,555,536 786,845 69% 2,555,536
Human Resources 402,522 452,003 673,755 221,752 67% 665,521
Information Technology 3,406,869 4,458,751 6,004,600 1,545,849 74% 5,852,943
Legal 733,829 777,217 1,132,503 355,286 69% 1,096,391
Manager 897,442 1,131,219 1,760,479 629,260 64% 1,619,979
Parks & Recreation 2,569,118 3,057,824 4,766,140 1,708,316 64% 4,490,331
Police 13,562,343 14,616,907 20,436,591 5,819,684 72% 20,332,453
Public Works 4,048,038 4,654,442 6,825,447 2,171,005 68% 6,804,316
Town Court 666,160 702,957 1,010,662 307,705 70% 965,777
Total Department Expenditures 32,291,829$ 35,242,534$ 50,527,714$ 15,285,180$ 70% 49,490,161$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$0.3
$2.6
$0.2 $0.6
$1.8
$0.5
$4.5
$0.8 $1.1
$3.1
$14.6
$4.7
$0.7
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
Millions FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
Non-Departmental: in FY23 there was a $885,000 settlement for Vistoso Trails Nature Preserve.
ATTACHMENT A
Page 6 OF 6
ATTACHMENT B
Highway Fund
Financial Status Fiscal Year to Date: March 2024
Sources `
Amount Percent
Licenses & Permits 19,792$ 15,596$ 25,000$ (9,405)$ 62% 23,000$
Highway User Revenue 3,025,678 3,084,605 4,334,608 (1,250,003) 71% 4,200,000
Interest Earnings 100,381 125,930 70,000 55,930 180% 170,000
Miscellaneous 7,262 14,337 3,000 11,337 478% 14,826
Transfers In - 1,500,000 1,500,000 - 100% 1,500,000
Total Sources 3,153,113$ 4,740,467$ 5,932,608$ (1,192,141)$ 80% 5,907,826$
Expenditures
Amount Percent
Personnel 867,410$ 896,352$ 1,262,861$ 366,509$ 71% 1,205,650$
O&M 376,134 628,057 1,010,930 382,873 62% 1,128,930
Capital Outlays 1,233,584 3,597,839 4,195,000 597,161 86% 4,088,000
Total Expenditures 2,477,128$ 5,122,248$ 6,468,791$ 1,346,543$ 79% 6,422,580$
Change in Fund Balance
Total Sources 3,153,113$ 4,740,467$ 5,932,608$ 5,907,826$
Total Expenditures (2,477,128) (5,122,248) (6,468,791) (6,422,580)
Change in Fund Balance 675,985$ (381,781)$ (536,183)$ (514,754)$
Beginning Fund Balance 878,932$
Estimated Ending Fund Balance 364,178$
Year End
Estimate
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
ATTACHMENT B
PAGE 1 OF 1
ATTACHMENT C-1
Community Center Fund
Financial Status Fiscal Year to Date: March 2024
Revenues
Amount Percent
Local Sales Tax 2,720,227$ 2,796,901$ 3,726,016$ (929,115)$ 75% 3,826,601$
Contracted Operating Revenues 3,818,837 4,497,491 4,609,486 (111,995) 98% 5,183,890
Town Operating Revenues 776,680 933,669 1,175,800 (242,131) 79% 1,425,725
Other Revenues 209,403 185,453 197,150 (11,697) 94% 199,198
Total Revenues 7,525,146$ 8,413,515$ 9,708,452$ (1,294,937)$ 87% 10,635,414$
Uses
Amount Percent
Contracted Operating Expenditures 3,514,583$ 3,958,019$ 4,965,264$ 1,007,245$ 80% 5,279,587$
Town Operating Expenditures 1,401,712 1,258,837 1,654,718 395,881 76% 1,769,711
Capital Outlay 1,061,736 1,214,527 1,820,500 605,973 67% 1,408,737
Transfers Out 2,028,066 1,717,203 1,717,203 - 100% 1,717,203
Total Uses 8,006,097$ 8,148,586$ 10,157,685$ 2,009,099$ 80% 10,175,238$
Change in Fund Balance
Total Revenues 7,525,146$ 8,413,515$ 9,708,452$ 10,635,414$
Total Uses (8,006,097) (8,148,586) (10,157,685) (10,175,238)
Change in Fund Balance (480,950)$ 264,928$ (449,233)$ 460,176$
Beginning Fund Balance 1,008,233$
Estimated Ending Fund Balance 1,468,409$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
Year End
Estimate
ATTACHMENT C-1
PAGE 1 OF 4
ATTACHMENT C-1
Community Center Fund
Financial Status Fiscal Year to Date: March 2024
Local Sales Tax Revenue
Amount Percent
Retail 1,695,451$ 1,728,024$ 2,334,825$ (606,801)$ 74% 2,331,973$
Restaurant & Bar 486,868 486,999 649,181 (162,182) 75% 662,146
Other 537,908 581,878 742,010 (160,132) 78% 832,482
Local Sales Tax Total 2,720,227$ 2,796,901$ 3,726,016$ (929,115)$ 75% 3,826,601$
Contracted Operating Revenue
Amount Percent
Golf Revenue, Trail & Cart Fees 1,943,658$ 2,394,842$ 2,424,211$ (29,369)$ 99% 2,569,390$
Member Dues 1,036,889 1,224,552 1,219,000 5,552 100%1,514,000
Food & Beverage 540,407 571,196 641,975 (70,779) 89%714,500
Merchandise & Other 297,881 306,902 324,300 (17,398) 95% 386,000
Contracted Revenue Total 3,818,837$ 4,497,491$ 4,609,486$ (111,995)$ 98% 5,183,890$
Actual Vs. Budget Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
$2.4
$1.2
$0.6
$0.3
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Golf Revenue,
Trail & Cart
Fees
Member Dues Food &
Beverage
Merchandise &
OtherMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$1.7
$0.5 $0.6
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
Retail Restaurant & Bar OtherMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
ATTACHMENT C-1
PAGE 2 OF 4
ATTACHMENT C-1
Community Center Fund
Financial Status Fiscal Year to Date: March 2024
Town Operating Revenue
Amount Percent
Daily Drop-Ins 38,198$ 63,079$ 50,500$ 12,579$ 125% 82,170$
Member Dues 539,019 675,881 660,000 15,881 102% 868,973
Recreation Programs 133,666 123,471 380,000 (256,529) 32% 387,378
Facility Rental Income 65,796 71,238 85,300 (14,062) 84% 87,204
Town Operating Revenue Total 776,680$ 933,669$ 1,175,800$ (242,131)$ 79% 1,425,725$
Other Revenue
Amount Percent
Interest Income 26,698$ 21,277$ 35,000$ (13,723)$ 61% 35,000
HOA Contributions 159,050 159,050 159,050 - 100% 159,050
Miscellaneous 23,655 5,126 3,100 2,026 165% 5,148
Other Revenue Total 209,403$ 185,453$ 197,150$ (11,697)$ 94% 199,198$
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget Year End
Estimate
$0.1
$0.7
$0.1 $0.1
$0.0
$0.1
$0.2
$0.3
$0.4
$0.5
$0.6
$0.7
$0.8
Daily Drop-Ins Member Dues Recreation
Programs
Facility Rental
Income
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$0.0
$0.2
$0.0
$0.0
$0.1
$0.2
Interest Income HOA Contributions MiscellaneousMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
ATTACHMENT C-1
PAGE 3 OF 4
ATTACHMENT C-1
Community Center Fund
Financial Status Fiscal Year to Date: March 2024
Contracted Operating Expenditures
Amount Percent
Personnel 1,242,904$ 1,370,165$ 1,738,221$ (368,056)$ 79% 1,829,774$
Food & Beverage 441,619 515,434 550,992 (35,558) 94% 625,500
Operations & Maintenance 1,719,252 1,950,408 2,513,367 (562,959) 78% 2,661,629
Equipment Leases 110,808 122,012 162,684 (40,672) 75% 162,684
Contracted Expenditures Total 3,514,583$ 3,958,019$ 4,965,264$ (1,007,245)$ 80% 5,279,587$
Town Operating Expenditures
Amount Percent
Personnel 702,233$ 823,763$ 1,114,639$ (290,876) 74% 1,217,540$
Operations & Maintenance 561,151 419,509 540,079 (120,570) 78% 536,607
Town Operating Expenditures Total 1,263,383$ 1,243,273$ 1,654,718$ (411,445)$ 75% 1,754,146$
550,000
75,000
198,000
65,000
100,000
285,000
75,000
75,000
255,000
20,000
12,000
7,500
12,000
15,000
10,000
7,000
35,000
8,000
16,000
1,820,500
Outdoor movie screen replacement
Facility landscaping
Pool deck maintenance
Pool handrails
PR Tennis bleacher demo
PR Tennis Court Gate repair
VTNP Improvements
PR Concrete ADA pad
CC Walking path lighting
External Pool lighting
Facility beautification
Overlook Cooler/freezer Modern
Life Cycle Repl - Bunkers & Turf Red
PR ADA & Code Compliance
PR Improvements
VTNP ADA Restrooms
List of FY24 Capital Projects:
Canada Golf Crs Pathway Impro
CC Fire Alarm Upgrade
CC Flat Roof Replacement
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
Year End
Estimate
FY 2022/23
Actuals
FY 2023/24
Actuals
FY 2023/24
Budget
Actual Vs. Budget
$0.8
$0.4
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
Personnel Operations &
MaintenanceMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
$1.4
$0.5
$2.0
$0.1
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
Personnel Food & Beverage Operations &
Maintenance
Equipment
LeasesMillions
FY 2022/23 Actuals FY 2023/24 Actuals FY 2023/24 Budget
ATTACHMENT C-1
PAGE 4 OF 4
ATTACHMENT C-2
Budget Last Year Budget Last Year
Actual Budget Variance Last Year Variance Actual Budget Variance Last Year Variance
Rounds
4,879 3,900 979 4,927 (48)Rounds ‐ Member 34,612 27,900 6,712 30,826 3,786
1,008 800 208 955 53 Rounds ‐ Outing 6,317 5,450 867 4,838 1,479
7,879 7,300 579 8,453 (574)Rounds ‐ Public 39,143 37,075 2,068 39,153 (10)
====================================================================================================================================================================
13,766 12,000 1,766 14,335 (569)Total Rounds 80,072 70,425 9,647 74,817 5,255
Revenue
405,307 363,000 42,307 396,115 9,192 Green Fees 1,802,404 1,624,000 178,404 1,668,438 133,966
29,931 25,850 4,081 27,810 2,121 Cart Fees 256,341 217,146 39,195 242,923 13,418
6,870 5,500 1,370 6,221 648 Driving Range 36,259 33,500 2,759 32,297 3,962
0 0 0 0 0 Golf Cards/Passes 0 0 0 0 0
45,523 29,825 15,698 48,156 (2,633)Pro Shop Sales 216,982 193,950 23,032 213,241 3,741
50,239 36,300 13,939 40,610 9,629 Food (Food & Soft Drinks) 289,077 238,375 50,702 276,245 12,832
40,410 35,300 5,110 43,159 (2,749)Beverages (Alcohol) 269,183 223,525 45,658 253,083 16,100
3,449 0 3,449 965 2,485 Other Food & Beverage Revenue 12,936 0 12,936 11,079 1,858
11,164 5,000 6,164 7,064 4,100 Other Golf Revenues (Club Rent, Handica 57,519 22,125 35,394 35,729 21,791
2,190 2,575 (385)3,365 (1,175)Clinic / School Revenue 20,385 18,325 2,060 25,579 (5,194)
157,440 108,000 49,440 120,516 36,924 Dues Income ‐ Monthly Dues 1,220,123 911,000 309,123 1,032,029 188,093
0 0 0 0 0 Initiation Fee Income / Annual Membersh 4,429 0 4,429 4,860 (431)
(4,977)0 (4,977) (547) (4,430)Miscellaneous Income and Discounts 12,015 10,000 2,015 23,333 (11,318)
================================================================================= ============================================================= ================
747,546 611,350 136,196 693,434 54,112 Total Revenue 4,197,654 3,491,946 705,708 3,818,837 378,817
Cost of Sales
25,180 20,723 (4,457)32,391 7,211 COGS ‐ Pro Shop 153,710 135,075 (18,635)148,750 (4,959)
17,542 10,463 (7,080)10,735 (6,807)COGS ‐ Food 103,040 69,133 (33,907)80,636 (22,404)
1,505 1,751 245 1,862 357 COGS ‐ Non‐Alcoholic Beverages 16,555 11,151 (5,404)14,833 (1,722)
9,045 10,615 1,570 12,436 3,391 COGS ‐ Alcohol 72,969 67,046 (5,924)65,459 (7,510)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
53,272 43,551 (9,721)57,424 4,153 Total Cost of Sales 346,274 282,405 (63,870)309,678 (36,596)
================================================================================= ============================================================= ================
694,275 567,800 126,475 636,010 58,265 GROSS INCOME 3,851,380 3,209,542 641,838 3,509,158 342,222
Labor
47,352 41,835 (5,517)43,429 (3,923)Golf Operation Labor 332,828 316,561 (16,267)312,007 (20,822)
12,260 10,063 (2,198)10,287 (1,973)General and Administrative 102,757 94,563 (8,194)91,240 (11,516)
76,661 68,861 (7,800)72,383 (4,277)Maintenance and Landscaping 665,919 621,522 (44,398)587,737 (78,183)
34,922 25,266 (9,657)26,027 (8,895)F&B 256,474 204,271 (52,203)208,887 (47,587)
8,658 6,308 (2,349)19,765 11,107 Sales and Marketing 70,913 63,975 (6,938)69,536 (1,376)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
179,853 152,332 (27,520)171,891 (7,962)Total Direct Labor 1,428,891 1,300,892 (127,999)1,269,407 (159,484)
15,028 13,710 (1,318)8,451 (6,577)Total Payroll Taxes 116,077 117,080 1,003 117,682 1,605
5,420 9,800 4,380 5,127 (293)Total Medical/Health Benefits 92,346 78,500 (13,846)91,768 (578)
2,534 2,240 (294)2,443 (91)Total Workmans Comp 20,436 17,635 (2,801)18,177 (2,259)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
22,982 25,750 2,768 16,021 (6,961)Total Payroll Burden 228,858 213,215 (15,643)227,626 (1,232)
================================================================================= ============================================================= ================
202,834 178,082 (24,752)187,912 (14,922)Total Labor 1,657,749 1,514,107 (143,642)1,497,033 (160,716)
Other Operational Expenses
8,399 4,064 (4,335)4,572 (3,826)Golf Ops 66,363 55,539 (10,824)53,798 (12,565)
14,880 18,730 3,850 28,257 13,377 G&A 99,723 122,736 23,013 130,916 31,193
58,849 58,843 (6)57,614 (1,235)Maintenance 520,147 563,487 43,340 540,886 20,739
4,866 3,955 (911)2,634 (2,232)F&B 35,285 33,505 (1,780)26,562 (8,723)
4,950 1,250 (3,700)8,372 3,422 Sales and Marketing 38,835 20,325 (18,510)41,302 2,467
13,259 13,259 0 13,259 0 Golf Cart Leases 119,329 119,331 2 108,423 (10,906)
298 298 (0)298 0 Equipment Leases 2,683 2,682 (1)2,385 (298)
26,760 74,692 47,932 17,630 (9,130)Utilities ‐ Maintenance 787,732 667,453 (120,279)487,272 (300,461)
16,804 14,050 (2,754)20,546 3,742 Utilities ‐ G&A 166,380 135,850 (30,530)146,996 (19,384)
10,612 10,612 (0)10,404 (208)Management Fees 95,509 95,508 (1)93,636 (1,873)
2,276 4,000 1,724 4,000 1,724 Insurance ‐ P&C 22,009 47,000 24,991 48,197 26,187
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
161,952 203,753 41,801 167,586 5,633 Total Other Operational Expenses 1,953,996 1,863,416 (90,580)1,680,371 (273,624)
================================================================================= ============================================================= ================
364,787 381,835 17,049 355,497 (9,289)Total Expenses 3,611,745 3,377,523 (234,222)3,177,405 (434,340)
================================================================================= ============================================================= ================
329,488 185,964 143,524 280,512 48,976 EBITDAR 239,635 (167,982)407,616 331,753 (92,119)
================================================================================= ============================================================= ================
329,488 185,964 143,524 280,512 48,976 EBITDA 239,635 (167,982)407,616 331,753 (92,119)
Interest Expense/Dep&Amt
(30,164)0 30,164 0 30,164 Other Expense (299,838)0 299,838 0 299,838
0 0 0 0 0 Capital Improvements/Cap Reserve 0 0 0 27,500 27,500
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
(30,164)0 30,164 0 30,164 Total Interest Expense (299,838)0 299,838 27,500 327,338
================================================================================= ============================================================= ================
359,652 185,964 173,688 280,512 79,140 Net Income 539,472 (167,982)707,454 304,253 235,219
El Conquistador Golf Club
For the Month Ending March 31st, 2024
March YTD
ATTACHMENT C-3Operating:Through MarBudgetCumulativeFY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY2024 FY 2024 ActualsRevenue36 Hole 500,158 1,883,452 1,798,304 2,171,484 2,367,136 2,593,395 3,522,083 3,674,489 3,856,880 3,538,985 3,553,371 25,906,366 Pusch ridge‐ 105,370 99,134 59,726 106,184 98,316 ‐ 380,375 414,225 387,311 433,565 1,650,641 F&B ‐ Overlook‐ 606,171 708,594 745,766 671,582 554,336 448,782 671,479 725,222 571,196 622,550 5,703,128 Total Revenue500,158 2,594,993 2,606,032 2,976,976 3,144,902 3,246,047 3,970,865 4,726,343 4,996,327 4,497,491 4,609,486 33,260,134 Expenses36 Hole 1,112,252 3,588,714 3,936,889 3,817,932 3,771,706 3,891,341 3,915,216 3,740,982 3,929,757 3,084,912 3,993,980 34,789,701 Pusch ridge‐ 253,513 256,769 236,160 230,196 287,112 ‐ 319,702 390,959 357,673 420,292 2,332,084 F&B ‐ Overlook‐ 861,740 823,383 841,866 785,499 701,538 440,382 630,509 596,910 515,434 550,992 6,197,261 Total Expenses1,112,252 4,703,967 5,017,041 4,895,958 4,787,401 4,879,991 4,355,598 4,691,193 4,917,626 3,958,019 4,965,264 43,319,046 Profit/(Loss)36 Hole (612,094) (1,705,262) (2,138,585) (1,646,448) (1,404,570) (1,297,946) (393,133) (66,493) (72,877) 454,073 (440,609) (8,883,335) Pusch ridge‐ (148,143) (157,635) (176,434) (124,012) (188,796) ‐ 60,673 23,266 29,638 13,273 (681,443) F&B ‐ Overlook‐ (255,569) (114,789) (96,100) (113,917) (147,202) 8,400 40,970 128,312 55,762 71,558 (494,133) Total Operating Profit/(Loss)(612,094) (2,108,974) (2,411,009) (1,918,982) (1,642,499) (1,633,944) (384,733) 35,150 78,701 539,472 (355,778) (10,058,912) Capital Investments45,116 47,909 29,464 ‐ ‐ 131,035 2,828,061 4,619,904 2,171,042 2,745,000 9,872,531 Initial purchase (1)300,000 350,000 350,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,000,000 Notes: (1) $1,000,000 original purchase of courses and community center1/2 cent sales tax 506,710 2,030,750 2,199,466 2,330,941 2,463,034 2,584,916 2,947,420 3,535,507 3,707,578 2,796,901 3,726,016 25,103,223 HOA contributions‐ ‐ ‐ ‐ ‐ ‐ 125,000 159,050 159,050 159,050 159,050 602,150 POST AGREEMENTPRE AGREEMENTTown of Oro ValleyGolf AnalysisATTACHMENT C‐3PAGE 1 OF 2
ATTACHMENT C-3Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunFY 2022Gross Income 229,456 231,657 245,357 246,063 421,446 388,213 469,675 503,028 597,798 492,033 313,725 219,663 Expenses 323,615 307,066 422,292 453,613 328,298 269,604 317,597 347,338 337,511 371,044 351,526 521,466 Net Income/(Loss) (94,159) (75,408) (176,935) (207,550) 93,147 118,609 152,078 155,690 260,286 120,989 (37,801) (301,802) FY 2023Gross Income 218,180 210,232 258,241 252,747 499,632 394,901 472,032 541,889 636,010 523,324 315,175 231708Expenses 306,974 296,210 432,727 576,529 322,700 297,856 310,847 307,918 355,497 313,621 429,007 558,232 Net Income/(Loss) (88,794) (85,978) (174,487) (323,782) 176,932 97,044 161,185 233,971 280,512 209,703 (113,832) (326,524) FY 2024Gross Income 213,698 225,040 295,419 332,783 495,412 480,305 525,109 589,339 694,275 Expenses 406,558 333,614 420,523 454,504 412,959 349,298 308,213 291,616 334,623 Net Income/(Loss) (192,860) (108,573) (125,103) (121,721) 82,453 131,007 216,896 297,723 359,652 ‐ ‐ ‐ Town of Oro ValleyGolf Analysis ‐ Contractor Financials ‐ 200,000 400,000 600,000 800,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Gross Income by Month ‐Total Golf OperationsFY 2022FY 2023FY 2024 ‐ 200,000 400,000 600,000 800,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Total Expenses by Month ‐Total Golf OperationsFY 2022FY 2023FY 2024 (400,000) (200,000) ‐ 200,000 400,000Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JunComparison of Net Income/(Loss) by Month ‐Total Golf OperationsFY 2022FY 2023FY 2024ATTACHMENT C‐3PAGE 2 0F 2
ATTACHMENT DConsolidated Year-to-Date Financial Report through March 2024FY 2023/2024FundFY 23/24Beginning BalanceRevenueOther Fin Sources/Transfers InTotal In Personnel O&M CapitalDebt ServiceOther Fin Uses/ Transfers OutTotal OutFund Balance Through March 2024General Fund 23,798,492 43,625,106 43,625,106 25,234,346 9,717,899 290,289 9,636,644 44,879,178 22,544,421 Highway Fund 878,932 3,240,467 1,500,000 4,740,467 896,352 628,057 3,597,839 5,122,248 497,151 Grants and Contributions Fund 162,207 1,657,173 1,657,173 8,904 30,566 1,078,320 522,701 1,640,491 178,889 Seizure & Forfeiture - Justice/State 230,193 104,125 104,125 31,372 31,372 302,946 Community Center Fund 1,008,233 8,413,515 8,413,515 823,763 4,393,093 1,214,527 1,717,203 8,148,586 1,273,161 Municipal Debt Service Fund 273,719 158,076 3,902,708 4,060,784 9,626 4,027,853 4,037,480 297,023 Water Resource System & Dev. Impact Fee Fund 18,419,840 1,993,944 1,993,944 80,655 5,257,127 73,005 5,410,787 15,002,996 Townwide Roadway Dev Impact Fee Fund 2,188,554 261,787 261,787 377 377 2,449,964 Parks & Recreation Impact Fee Fund 671,640 86,160 86,160 176 600,000 600,176 157,624 Police Impact Fee Fund 64,727 40,162 40,162 50 46,553 46,603 58,286 Capital Fund 24,550,287 1,730,895 7,500,000 9,230,895 203,243 3,106 13,919,995 1,500,000 15,626,344 18,154,838 PAG/RTA Fund 808,007 136,592 136,592 22,042 443,610 465,652 478,947 Water Utility 12,293,771 15,051,281 522,701 15,573,982 2,621,250 6,643,841 1,132,715 3,472,635 2,308 13,872,750 13,995,003 Stormwater Utility923,112 1,158,631 1,158,631 690,686 261,537 50,700 1,002,924 1,078,819 Benefit Self Insurance Fund 2,895,866 3,182,817 3,182,817 2,964,109 2,964,109 3,114,574 Recreation In-Lieu Fee Fund 17,216 710 710 - 17,926 Total 89,184,796 80,841,441 13,425,409 94,266,850 30,478,545 24,786,507 27,585,122 7,573,493 13,425,409 103,849,077 79,602,569
ATTACHMENT EGeneral Fund Local Sales Tax Collections FY 2023/24JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax566,321 609,737 391,196 422,231 488,917 493,394 486,229 411,515 164,695 4,034,235 Utility Sales Tax250,515 368,788 435,027 373,297 365,463 336,739 321,251 411,797 336,202 3,199,079 Retail Sales Tax728,452 730,517 682,418 725,728 645,288 841,754 1,049,364 772,676 735,897 6,912,095 Bed Tax144,726 137,921 139,535 141,666 163,605 153,950 115,408 326,484 83,195 1,406,490 Restaurant & Bar Sales Tax192,259 193,105 215,297 223,296 212,172 217,665 234,122 232,257 227,823 1,947,997 All Other Local Sales Tax *218,097 226,809 233,029 260,403 345,752 259,882 253,288 323,686 225,166 2,346,113 Monthly Total 2,100,370$ 2,266,876$ 2,096,503$ 2,146,622$ 2,221,197$ 2,303,384$ 2,459,664$ 2,478,415$ 1,772,979$ 19,846,008$ Cumulative Total 2,100,370$ 4,367,246$ 6,463,748$ 8,610,370$ 10,831,567$ 13,134,951$ 15,594,615$ 18,073,030$ 19,846,008$ -$ Monthly variance (63,193)$ 130,347$ (7,816)$ 27,123$ 154,685$ 46,257$ (112,892)$ 334,084$ (480,201)$ Cumulative variance(63,193)$ 67,154$ 59,338$ 86,460$ 241,146$ 287,402$ 174,510$ 508,594$ 28,393$ FY 2022/23JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax 586,039 575,738 540,567 518,177 382,338 478,496 580,594 364,554 331,226 376,895 358,367 432,766 5,525,757 Utility Sales Tax317,210 371,973 356,012 334,868 295,825 266,797 293,200 333,721 320,870 270,869 245,486 302,123 3,708,954 Retail Sales Tax 716,720 680,117 691,138 713,672 729,067 838,562 995,470 705,424 711,636 806,316 786,447 755,079 9,129,647 Bed Tax 146,263 128,132 114,626 142,628 213,392 186,186 165,540 256,564 320,963 362,494 207,226 226,474 2,470,488 Restaurant & Bar Sales Tax 186,438 180,577 199,405 204,482 205,881 227,422 246,520 215,557 281,190 281,567 256,102 236,540 2,721,681 All Other Local Sales Tax *210,893 199,992 202,571 205,672 240,009 259,665 291,232 268,511 287,294 315,096 259,556 258,710 2,999,201 Monthly Total 2,163,563$ 2,136,529$ 2,104,319$ 2,119,499$ 2,066,512$ 2,257,128$ 2,572,556$ 2,144,331$ 2,253,179$ 2,413,237$ 2,113,184$ 2,211,693$ 26,555,729$ Cumulative Total2,163,563$ 4,300,092$ 6,404,411$ 8,523,910$ 10,590,421$ 12,847,549$ 15,420,105$ 17,564,436$ 19,817,615$ 22,230,852$ 24,344,036$ 26,555,729$ *Does not include cable franchise fees or sales tax audit revenues
ATTACHMENT FGeneral Fund State Shared RevenuesFY 2023/24JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 1,064,957 9,584,611 State Shared Sales Tax 585,790 598,642 580,255 602,020 587,629 599,429 695,594 581,121 577,773 5,408,254 County Auto Lieu 189,254 220,268 179,819 201,993 183,567 183,086 222,892 194,548 235,310 1,810,738 Smart and Safe- - - - - 136,194 - - - 136,194 Monthly Total 1,840,001$ 1,883,868$ 1,825,032$ 1,868,970$ 1,836,152$ 1,983,666$ 1,983,443$ 1,840,626$ 1,878,040$ 16,939,798$ Cumulative Total 1,840,001$ 3,723,869$ 5,548,900$ 7,417,870$ 9,254,023$ 11,237,689$ 13,221,132$ 15,061,758$ 16,939,798$ Monthly variance 677,489$ 462,516$ 193,669$ 356,835$ (14,336)$ 348,734$ 784,294$ (107,085)$ 193,706$ (1,739,561)$ Cumulative variance 677,489$ 1,140,005$ 1,333,673$ 1,690,508$ 1,676,173$ 2,024,907$ 2,809,201$ 2,702,116$ 2,895,822$ (18,969,634)$ FY 2022/23JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 756,893 756,894 756,893 756,893 756,893 756,893 756,895 756,893 756,893 756,894 756,894 756,893 9,082,721 State Shared Sales Tax 308,350 462,557 664,529 559,547 823,170 575,594 246,387 1,007,946 568,981 656,403 601,331 602,722 7,077,517 County Auto Lieu 97,269 201,901 209,941 195,695 270,425 175,823 195,867 182,872 267,340 190,731 217,316 216,309 2,421,489 Smart and Safe- - - - - 126,622 - - - - - 145,164 271,786 Opioid Settlement- - - - - - - - 91,120 - 6,528 18,472 116,120 Monthly Total 1,162,512$ 1,421,352$ 1,631,363$ 1,512,135$ 1,850,488$ 1,634,932$ 1,199,149$ 1,947,711$ 1,684,334$ 1,604,028$ 1,582,069$ 1,739,561$ 18,969,634$ Cumulative Total 1,162,512$ 2,583,864$ 4,215,227$ 5,727,362$ 7,577,850$ 9,212,782$ 10,411,931$ 12,359,642$ 14,043,976$ 15,648,004$ 17,230,073$ 18,969,634$