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AGENDA
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
NOVEMBER 15, 2021
ORO VALLEY 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 OCTOBER 19, 2021 REGULAR SESSION MEETING MINUTES
2.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 21/22 FINANCIAL UPDATE
THROUGH SEPTEMBER 2021 (Please reference the attachments for the Town's monthly financial
update)
FUTURE AGENDA ITEMS
ADJOURNMENT
POSTED: 11/10/21 at 5 P.M. by P.P.
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.
In accordance with the Pima County Health Department’s most recent health advisory, the Town
respectfully asks all in-person meeting attendees, regardless of vaccination status, to please wear a mask
while indoors. COVID-19 remains a fluid situation, and the Town will adjust its safety guidelines in
accordance with any future health advisories from the Health Department.
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:11/15/2021
Submitted By:Alison Cote, Legal
SUBJECT:
REVIEW AND APPROVAL OF THE OCTOBER 19, 2021 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 (approve with changes) the October 19, 2021 regular session meeting minutes.
Attachments
Draft Minutes - 10/19/21
D R A F T
MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
OCTOBER 19, 2021
COUNCIL CHAMBERS
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER - Chair Latchford called the meeting to order at 4:00 P.M.
ROLL CALL
Present: John Latchford, Chairman
Michael Mason, Commissioner
David Newell, Commissioner
James Beasley, Commissioner
Absent:Cathy Solverson, Vice Chair
Staff Present:Mary Jacobs, Town Manager
David Gephart, Chief Financial Officer
Wendy Gomez, Finance and Budget Administrator
Tobin Sidles, Legal Services Director
Chris Hutchison, Senior Budget Analyst
PLEDGE OF ALLEGIANCE - Commissioner 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:
- the Town received final pricing on the Parks and Rec bonds
- S & P reaffirmed the town's AA+ bond rating
- staff is in the process of drafting the Comprehensive Annual Financial Report for the last fiscal year
- the local sales tax in the monthly financial report
- Chris Hutchison is the new Senior Budget Analyst for the Town
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE SEPTEMBER 21, 2021 REGULAR SESSION MEETING MINUTES
Motion by Commissioner Michael Mason, seconded by Commissioner James Beasley to approve the
September 21, 2021 meeting minutes as written.
Vote: 4 - 0 Carried
2.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 21/22 FINANCIAL UPDATE
THROUGH AUGUST 2021
Finance and Budget Administrator Wendy Gomez presented on the Town of Oro Valley's FY 2021/2022
Financial Update through August 2021.
Discussion ensued amongst staff and commissioners.
COUNCIL LIAISON COMMENTS - The council liaison was not present.
FUTURE AGENDA ITEMS
- a discussion regarding the employee pension plan
- status report on minimizing potential losses for the portfolio
ADJOURNMENT
Motion by Commissioner James Beasley, seconded by Commissioner David Newell to adjourn the
meeting at 4:55 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 19th day of October,
2021. I further certify that the meeting was duly called and held and that a quorum was present.
Dated this 20th day of October, 2021.
___________________________
Alison Cote
Legal Secretary
Budget and Finance Commission 2.
Meeting Date:11/15/2021
Submitted By:Christopher Hutchison, Finance
SUBJECT:
PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 21/22 FINANCIAL UPDATE THROUGH
SEPTEMBER 2021 (Please reference the attachments for the Town's monthly financial update)
RECOMMENDATION:
N/A
EXECUTIVE SUMMARY:
Please reference attachments.
BACKGROUND OR DETAILED INFORMATION:
Please reference attachments.
FISCAL IMPACT:
N/A
SUGGESTED MOTION:
N/A
Attachments
Council Memo - Sep 2021 Financial Update
Attachment A - General Fund
Attachment B - Highway Fund
Attachment C-1 - Community Center Fund
Attachment C-2 Golf Contractor P&L
Attachment D - Summary All Funds
Attachment E - Gen Fund Local Sales Tax
Attachment F - Gen Fund State Shared Revenues
Town Manager’s Office
TOWN COUNCIL REPORT
DATE: November 17, 2021
TO: Mayor and Council
THRU: Mary Jacobs, Town Manager
FROM: David Gephart, Chief Financial Officer
SUBJECT: September 2021 Financial Update
This financial update is intended to provide an overview and status of revenues and expenditures
for the Town’s selected funds through September 2021 for fiscal year 2021/22. Funds included in
this financial update are the General Fund, Highway Fund and Community Center Fund. All
amounts are preliminary, un-audited and subject to change based upon adjusting entries, as
necessary.
EXECUTIVE SUMMARY:
Revenues are performing well compared to budget, and expenditures are trending as expected.
Only a few variances are noted at this time, which are discussed below. Reserves continue to be
strong, and the Town is continuing to streamline operations, improve efficiencies and cut costs,
all while maintaining service levels to the greatest degree possible.
General Fund
Overall, General Fund revenues and expenditures are trending as expected through September
2021 (See Attachment A). Revenues total $9.4 million or 19.9% of budget, while expenditures are
at $18.9 million or 30.9% of the total budget. Included in the expenditures is a $10 million budgeted
payment to PSPRS to pay down the Town’s unfunded liability.
Highway Fund
Revenues and expenditures for the Highway Fund are trending as expected through September
2021 (See Attachment B). Revenues total $966,466 or 26.5% of budget while expenditures total
$636,866 or 15.6% of budget.
Community Center Fund
Current revenues and expenditures for the Community Center Fund are as expected through
September (See Attachment C-1 & C-2). Revenues total $1.8 million or 24.8% of budget while
expenditures total $1.6 million or 20.3% of budget.
BACKGROUND AND DETAILED INFORMATION:
GENERAL FUND
Attachment A shows General Fund revenues and expenditures through September, as well as
year-end estimates for each category. The estimated year-end projections in the General Fund
are as follows:
Revenues: $49,268,691
Less:
Expenditures: ($60,115,412)
Preliminary Estimated Decrease in Fund Balance: $10,846,721*
*The estimated change in fund balance is primarily due a one-time payment of $10 million to
PSPRS to pay down the unfunded liability.
General Fund Revenues
Local sales tax collections in the General Fund total $4.5 million or 21.3% of the budget
amount of $21.2 million and are trending as anticipated. Retail collections total $2.5
million, which is $224,000 or 10% higher than collections from the same time period last
fiscal year. Both restaurant/bar collections as well as bed tax collections are up 40.7% and
212.6% respectively compared to collections from the same time period last fiscal year.
Construction sales tax collections total $1.5 million through September 2021, which is
$120,000 or 7.3% lower than collections from the same time period last fiscal year. As
expected, residential construction has slowed from the unusually high activity in the prior
year and is currently trending on budget. Please see Attachment E for detailed information
on General Fund local sales tax collections.
License and permit revenues total $456,000 or 24.6% of the budget amount of $1.8 million.
Single Family Residential (SFR) permits issued through September total 58 and are a
large portion of this revenue piece. This revenue category is expected to come in on
budget.
State shared revenues total $3.3 million or 24.1% of the budget amount of $13.7 million.
These revenues sources are comprised of state shared sales taxes, state shared income
taxes and auto-lieu fees. At this point in time, these revenues are forecasted to come in
on budget.
Federal grants revenue is expected to be $2.2 million greater than originally budgeted due
to known, additional ARPA funding.
Charges for services revenues total $690,594 or 28.9% of the budget amount of $2.4
million. A large portion of these revenues are associated with Parks & Recreation program
revenues which are showing strong signs of recovery. Charges for services are forecasted
to come in on budget.
General Fund Expenditures
General Fund expenditures are trending as expected through September 2021. In General
Administration, the Town has recorded a one-time $10.0 million payment to PSPRS to pay
down the unfunded liability. Transfers out of the General Fund are expected to be $1.1
million less than budgeted due to the pension obligation bonds that were issued in July.
The Town budgeted a full debt service payment; however, only an interest payment is due
this year.
The General Fund is expected to end the fiscal year with a total fund balance of $24.8 million,
or 46.1% of budgeted expenditures.
HIGHWAY FUND
Highway Fund Revenues
State shared highway user funds total $956,095 or 26.4% of the budget amount of $3.6
million. At this point in time, these revenues are estimated to come in at budgeted levels.
Miscellaneous revenue includes an unexpected insurance recovery of $2,396, therefore
the year end estimate has been increased by $2,396.
All other revenue sources for the fund are expected to come in on budget at this time.
Highway Fund Expenditures
Highway Fund expenditures are currently at $637,000 or 15.6% of the adopted budget of
$4.1 million. This is expected, due to the timing of the pavement preservation program.
Highway Fund expenditures are estimated to come in on budget.
The Highway Fund is expected to end the fiscal year with a fund balance of approximately
$803,000.
COMMUNITY CENTER FUND
Attachment C-1 shows the consolidated financial status of the Community Center Fund with all
revenues and expenditures from contracted and Town-managed operations.
Attachment C-2 shows the monthly line-item detail for the contractor-managed operations,
specifically revenues and expenditures associated with the golf, 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.
Community Center Fund Revenues
Revenues in the Community Center Fund through September 2021 total $1.8 million or
24.8% of the budget amount of $7.4 million.
Contracted operating revenues total $768,987. This is approximately $18,900 or 2.5%
higher than revenues from the same time period last fiscal year. At this point in time,
contracted revenues are estimated to come in on budget.
Town operating revenues for September are $320,362, a significant increase from the
same time period last year primarily due to a recovery in recreation program revenue.
Town operating revenues are expected to end the fiscal year 7.2% over budget.
Local sales tax revenues for September total $747,000 or 25.5% of the budget amount of
$2.9 million. These collections are currently estimated to come in at budgeted levels.
Community Center Fund Expenditures
Expenditures in the Community Center Fund total $1.6 million or 20.3% of the budget
amount of $7.8 million.
Contracted operating expenditures total $1.1 million, or 23.7% of the budgeted amount of
$4.7 million. Contracted expenditures are estimated to come on budget.
Transfers out are expected to be $1.7 million less than budget. This is due to the Town
having budgeted a full debt service payment for the newly issued Parks and Recreation
bonds. A debt service payment will not be due this year.
At this time, the Community Center Fund is projected to end the fiscal year with a total
fund balance of $2.3 million.
The year-end sales tax support for golf operations is estimated to be $871,143. This figure
includes a projected ($1,079,143) for contracted golf operations, $125,000 in outside HOA
contributions, and approximately $83,000 in local sales taxes generated from golf related
operations.
Please see Attachments A and B for additional details on the General Fund and Highway Fund.
See Attachments C-1 and C-2 for additional details on the Community Center Fund. See
Attachment D for a fiscal year-to-date consolidated summary of all Town Funds. See Attachment
E for a breakdown of monthly local sales tax collections for the General Fund. See Attachment F
for a breakdown of state shared revenues for the General Fund.
ATTACHMENT A
September YTD Financial Status
General Fund
% Budget Completion through September --- 25.0%
% Actuals YE % Variance
to Budget to Budget
REVENUES:`
LOCAL SALES TAX 4,509,196 21,157,707 21.3% 21,157,707 0.0%
LICENSES & PERMITS 455,667 1,849,000 24.6% 1,849,000 0.0%
FEDERAL GRANTS 30,258 5,990,290 0.5% 8,185,785 36.7%
STATE GRANTS 14,503 75,000 19.3% 75,000 0.0%
STATE/COUNTY SHARED 3,302,564 13,729,923 24.1% 13,729,923 0.0%
OTHER INTERGOVERNMENTAL 269,207 1,344,500 20.0% 1,344,500 0.0%
CHARGES FOR SERVICES 690,594 2,387,776 28.9% 2,387,776 0.0%
FINES 34,126 125,000 27.3% 125,000 0.0%
INTEREST INCOME 52,489 150,000 35.0% 150,000 0.0%
MISCELLANEOUS 2,385 264,000 0.9%264,000 0.0%
TOTAL REVENUES 9,360,989 47,073,196 19.9% 49,268,691 4.7%
% Actuals YE % Variance
to Budget to Budget
EXPENDITURES:
CLERK 72,392 383,833 18.9% 383,833 0.0%
COMMUNITY & ECON. DEV. 553,014 3,044,614 18.2% 3,044,614 0.0%
COUNCIL 89,138 188,720 47.2% 188,720 0.0%
FINANCE 168,504 979,655 17.2% 979,655 0.0%
GENERAL ADMINISTRATION 10,584,648 14,459,559 73.2% 14,459,559 0.0%
HUMAN RESOURCES 87,147 535,390 16.3% 535,390 0.0%
INNOVATION & TECHNOLOGY 1,022,735 4,346,583 23.5% 4,346,583 0.0%
LEGAL 157,873 902,754 17.5% 902,754 0.0%
MAGISTRATE COURT 188,827 914,796 20.6% 914,796 0.0%
MANAGER 201,445 1,115,224 18.1% 1,115,224 0.0%
PARKS & RECREATION 657,950 3,446,361 19.1% 3,446,361 0.0%
POLICE 3,220,540 18,171,000 17.7% 18,171,000 0.0%
PUBLIC WORKS 969,875 5,364,091 18.1% 5,364,091 0.0%
TRANSFERS OUT 946,555 7,408,264 12.8%6,262,832 -15.5%
TOTAL EXPENDITURES 18,920,643 61,260,844 30.9% 60,115,412 -1.9%
SURPLUS / (DEFICIT) (9,559,654) (14,187,648) (10,846,721)
BEGINNING FUND BALANCE **35,668,988
Plus: Surplus / (Deficit)(10,846,721)
ENDING FUND BALANCE **24,822,267
* Year-end estimates are subject to further revision
** Beginning and ending fund balance amounts are estimates and are subject to further revision
FY 2021/2022
Year End
Estimate *
Budget Year End
Estimate *
Actuals
thru 09/2021
Actuals
thru 09/2021
Budget
ATTACHMENT B
September YTD Financial Status FY 2021/2022
% Budget Completion through September --- 25.0%
Actuals
thru 09/2021 Budget % Actuals
to Budget
Year End
Estimate *
YE % Variance
to Budget
REVENUES:
LICENSES & PERMITS 7,125 25,000 28.5%25,000 0.0%
STATE/COUNTY SHARED 956,095 3,614,922 26.4%3,614,922 0.0%
INTEREST INCOME 748 6,000 12.5%6,000 0.0%
MISCELLANEOUS 2,498 2,000 124.9%4,396 119.8%
TOTAL REVENUES 966,466 3,647,922 26.5%3,650,318 0.1%
Actuals
thru 09/2021 Budget % Actuals
to Budget
Year End
Estimate *
YE % Variance
to Budget
EXPENDITURES:
TRANSPORTATION ENGINEERING 593,861 3,766,525 15.8%3,766,525 0.0%
STREET MAINTENANCE 43,005 324,000 13.3%324,000 0.0%
TOTAL EXPENDITURES 636,866 4,090,525 15.6%4,090,525 0.0%
SURPLUS / (DEFICIT)329,600 (442,603) (440,207)
BEGINNING FUND BALANCE **1,242,978
Plus: Surplus / (Deficit)(440,207)
ENDING FUND BALANCE **802,771
* Year-end estimates are subject to further revision
** Beginning and ending fund balance amounts are estimates and are subject to further revision
Highway Fund
ATTACHMENT C-1
September YTD Financial Status
% Budget Completion through September --- 25.0%
% Actuals YE % Variance
to Budget to Budget
REVENUES:
CONTRACTED OPERATING REVENUES
Golf Revenues, Trail and Cart Fees 343,354 1,966,245 17.5% 1,966,245 0.0%
Member Dues 267,959 957,000 28.0% 957,000 0.0%
Food & Beverage 112,769 473,465 23.8% 473,465 0.0%
Merchandise & Other 44,905 225,675 19.9%225,675 0.0%
768,987 3,622,385 21.2% 3,622,385 0.0%
TOWN OPERATING REVENUES
Daily Drop-Ins 10,184 30,000 33.9% 30,000 0.0%
Member Dues 177,215 526,480 33.7% 526,480 0.0%
Recreation Programs 109,442 82,500 132.7% 132,500 60.6%
Swim Team/Swim Lessons - 8,000 0.0% 8,000 0.0%
Facility Rental Income 23,511 50,500 46.6% 50,500 0.0%
Concession Sales 10 100 10.0%100 0.0%
320,362 697,580 45.9% 747,580 7.2%
OTHER REVENUES
Local Sales Tax 747,245 2,932,798 25.5% 2,932,798 0.0%
Real Property Rental Income - 19,502 0.0% 19,502 0.0%
Interest Income 275 1,000 27.5% 1,000 0.0%
Miscellaneous - 125,000 0.0%125,000 0.0%
747,520 3,078,300 24.3% 3,078,300 0.0%
TOTAL REVENUES 1,836,869 7,398,265 24.8% 7,448,265 0.7%
% Actuals YE % Variance
to Budget to Budget
EXPENDITURES:
CONTRACTED OPERATING EXPENDITURES
Personnel 337,360 1,641,903 20.5% 1,641,903 0.0%
Food & Beverage 107,290 445,441 24.1% 445,441 0.0%
Operations & Maintenance 631,715 2,429,634 26.0% 2,429,634 0.0%
Equipment Leases 39,123 184,550 21.2%184,550 0.0%
1,115,489 4,701,528 23.7% 4,701,528 0.0%
TOWN OPERATING EXPENDITURES
Personnel 208,780 875,291 23.9% 875,291 0.0%
Operations & Maintenance 87,672 211,290 41.5%211,290 0.0%
296,452 1,086,581 27.3% 1,086,581 0.0%
CAPITAL OUTLAY 21,528 132,500 16.2% 132,500 0.0%
TRANSFERS OUT 168,519 1,868,519 9.0% 168,519 -91.0%
TOTAL EXPENDITURES 1,601,988 7,789,128 20.6% 6,089,128 -21.8%
SURPLUS / (DEFICIT) 234,881 (390,863) 1,359,137
BEGINNING FUND BALANCE **2,676,793
Plus: Surplus / (Deficit)1,359,137
ENDING FUND BALANCE **4,035,930
* Year-end estimates are subject to further revision
** Beginning and ending fund balance amounts are estimates and are subject to further revision
FY 2021/2022
Actuals
thru 09/2021 Budget Year End
Estimate *
Community Center Fund
Actuals
thru 09/2021 Budget Year End
Estimate *
ATTACHMENT C-2
Budget Last Year Budget Last Year
Actual Budget Variance Last Year Variance Actual Budget Variance Last Year Variance
Rounds
2,235 1,750 485 2,039 196 Rounds ‐ Member 5,937 4,900 1,037 5,560 377
232 200 32 304 (72)Rounds ‐ Outing 871 500 371 534 337
2,817 3,250 (433)3,586 (769)Rounds ‐ Public 9,122 10,250 (1,128)11,804 (2,682)
====================================================================================== ================================================================================
5,284 5,200 84 5,929 (645)Total Rounds 15,930 15,650 280 17,898 (1,968)
Revenue
99,302 105,000 (5,698)122,143 (22,841)Green Fees 270,036 286,000 (15,964)332,833 (62,798)
21,948 19,175 2,773 19,752 2,196 Cart Fees 65,256 57,295 7,961 58,093 7,162
2,452 4,500 (2,048)4,685 (2,233)Driving Range 8,063 9,000 (937)8,999 (936)
0 0 0 709 (709)Golf Cards/Passes 0 0 0 0 0
13,191 13,000 191 13,855 (664)Pro Shop Sales 37,252 38,000 (748)40,624 (3,372)
22,276 6,850 15,426 8,660 13,616 Food (Food & Soft Drinks) 62,376 19,800 42,576 24,398 37,978
15,933 12,625 3,308 15,787 146 Beverages (Alcohol) 50,580 37,875 12,705 46,212 4,369
(463)0 (463) (986)524 Other Food & Beverage Revenue (187)0 (187) (43) (145)
1,551 500 1,051 1,253 299 Other Golf Revenues (Club Rent, Handicap 3,510 1,350 2,160 3,527 (17)
960 250 710 1,184 (223)Clinic / School Revenue 3,591 750 2,841 2,786 804
90,924 77,500 13,424 75,649 15,275 Dues Income ‐ Monthly Dues 267,959 232,500 35,459 232,871 35,088
(148)0 (148)133 (282)Miscellaneous Income and Discounts 553 0 553 (186)739
==================================================================================== ==============================================================================
267,927 239,400 28,527 262,823 5,104 Total Revenue 768,987 682,570 86,417 750,114 18,873
Cost of Sales
10,020 9,750 (270)10,735 715 COGS ‐ Pro Shop 26,591 28,500 1,909 29,385 2,794
6,617 1,238 (5,379)2,160 (4,457)COGS ‐ Food 17,118 3,465 (13,653)6,909 (10,209)
843 930 87 1,670 827 COGS ‐ Non‐Alcoholic Beverages 2,862 2,790 (72)4,339 1,477
5,091 3,788 (1,303)4,641 (450)COGS ‐ Alcohol 15,945 11,363 (4,583)13,575 (2,370)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
22,570 15,705 (6,865)19,205 (3,366)Total Cost of Sales 62,517 46,118 (16,399)54,208 (8,309)
==================================================================================== ==============================================================================
245,357 223,695 21,662 243,618 1,739 GROSS INCOME 706,470 636,453 70,018 695,906 10,565
Labor
23,750 21,238 (2,512)20,012 (3,738)Golf Operation Labor 69,266 64,582 (4,684)61,966 (7,300)
8,913 10,213 1,299 6,868 (2,045)General and Administrative 27,324 30,638 3,313 31,803 4,479
61,693 63,624 1,931 53,556 (8,137)Maintenance and Landscaping 173,241 190,760 17,519 157,348 (15,893)
17,769 14,553 (3,215)13,337 (4,432)F&B 54,499 43,860 (10,639)42,759 (11,739)
6,240 5,171 (1,069)5,434 (806)Sales and Marketing 16,371 14,514 (1,857)15,454 (917)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
118,365 114,799 (3,566)99,208 (19,157)Total Direct Labor 340,700 344,354 3,653 309,330 (31,370)
8,274 10,906 2,632 8,859 585 Total Payroll Taxes 25,683 32,714 7,031 29,080 3,397
10,123 12,500 2,377 9,743 (380)Total Medical/Health Benefits 29,375 37,500 8,125 29,092 (283)
1,776 2,055 279 2,030 254 Total Workmans Comp 5,991 6,165 174 6,090 99
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
20,173 25,461 5,288 20,633 460 Total Payroll Burden 61,049 76,379 15,329 64,262 3,213
==================================================================================== ==============================================================================
138,538 140,260 1,722 119,840 (18,698)Total Labor 401,750 420,732 18,983 373,592 (28,157)
Other Operational Expenses
8,676 2,930 (5,746)2,224 (6,451)Golf Ops 21,758 12,930 (8,828)9,506 (12,252)
7,310 8,475 1,165 8,613 1,303 G&A 26,436 26,965 529 56,097 29,660
131,692 129,150 (2,542)118,361 (13,331)Maintenance 200,170 204,200 4,030 189,090 (11,080)
2,352 6,210 3,858 2,075 (277)F&B 6,975 15,080 8,105 5,126 (1,849)
1,397 900 (497)2,083 685 Sales and Marketing 5,703 4,500 (1,203)5,782 78
13,041 14,784 1,743 12,450 (591)Golf Cart Leases 39,123 44,352 5,229 37,350 (1,773)
0 0 0 0 0 Equipment Leases 0 0 0 41,928 41,928
89,059 118,900 29,841 103,569 14,510 Utilities ‐ Maintenance 250,011 374,500 124,489 332,127 82,117
16,181 15,850 (331)15,751 (430)Utilities ‐ G&A 48,699 41,605 (7,094)41,428 (7,271)
10,200 10,200 0 10,000 (200)Management Fees 30,600 30,600 0 30,000 (600)
3,846 3,300 (546)3,300 (546)Insurance ‐ P&C 11,530 9,900 (1,630)9,900 (1,630)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
283,754 310,699 26,945 278,426 (5,328)Total Other Operational Expenses 641,006 764,632 123,626 758,334 117,328
==================================================================================== ==============================================================================
422,292 450,959 28,667 398,266 (24,025)Total Expenses 1,042,755 1,185,364 142,609 1,131,927 89,171
==================================================================================== ==============================================================================
(176,935) (227,264)50,329 (154,648) (22,287)EBITDAR (336,285) (548,912)212,627 (436,021)99,736
==================================================================================== ==============================================================================
(176,935) (227,264)50,329 (154,648) (22,287)EBITDA (336,285) (548,912)212,627 (436,021)99,736
Interest Expense/Dep&Amt
00000Other Expense (343)0 343 12,590 12,933
0 0 0 0 0 Capital Improvements/Cap Reserve 10,560 0 (10,560)0 (10,560)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
00000Total Interest Expense 10,217 0 (10,217)12,590 2,373
==================================================================================== ==============================================================================
(176,935) (227,264)50,329 (154,648) (22,287)Net Income (346,502) (548,912)202,410 (448,611)102,109
El Conquistador Golf Club
For the Month Ending September 30th, 2021
September YTD
ATTACHMENT DConsolidated Year-to-Date Financial Report through September 2021FY 2021/2022FY 21/22 Capital Leases/Left in AccountsBegin Bal. Transfer OutThru Sep. 2021General Fund 35,668,988 9,360,989 9,360,989 946,555 5,567,739 12,391,906 14,443 18,920,643 26,109,334 Highway Fund 1,242,979 966,466 966,466 238,929 78,558 319,379 636,866 1,572,579 Grants and Contributions Fund - 1,150 1,150 1,150 1,150 - Seizure & Forfeiture - Justice/State 266,810 15,903 15,903 - 282,713 Community Center Fund 2,676,793 1,836,869 1,836,869 207,642 546,140 826,678 21,528 1,601,988 2,911,674 Municipal Debt Service Fund 165,436 29,930 19,098,390 19,128,320 17,865,260 1,101,020 18,966,280 327,476 Oracle Road Debt Service Fund 4,194 3 3 - 4,197 Water Resource System & Dev. Impact Fee Fund 18,744,638 425,917 425,917 363,505 319,207 682,712 18,487,843 Townwide Roadway Dev Impact Fee Fund 1,978,878 53,140 53,140 8,663 8,663 2,023,355 Parks & Recreation Impact Fee Fund 316,645 30,268 30,268 - 346,913 Police Impact Fee Fund 168,764 17,461 17,461 117,750 117,750 68,476 Capital Fund 2,504,029 214,452 214,452 4,747 60 388,352 393,159 2,325,322 PAG/RTA Fund 1,248,618 7,951 7,951 224,063 224,063 1,032,506 Water Utility13,666,981 4,777,492 4,777,492 2,402 651,441 1,962,887 180,582 4,215,022 7,012,334 11,432,139 Stormwater Utility1,001,740 389,837 389,837 155,041 69,733 224,774 1,166,803 Benefit Self Insurance Fund 2,379,019 937,510 937,510 890,612 890,612 2,425,917 Recreation In-Lieu Fee Fund 17,045 13 13 - 17,058 Total 82,051,556 19,065,350 19,098,390 38,163,740 1,274,349 7,164,037 34,086,844 1,520,515 - 5,635,249 49,680,994 70,534,302 Total OutPersonnel O&M Capital ContingencyFund RevenueOther Fin Sources/TfrsTotal InDebt Service
ATTACHMENT EGeneral Fund Local Sales Tax Collections FY 2021/22CATEGORY JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNETOTALConstruction Sales Tax 441,038 419,552 651,924 1,512,514 Utility Sales Tax 321,489 383,548 329,545 1,034,582 Retail Sales Tax 675,726 647,693 641,711 1,965,130 Bed Tax 130,217 117,012 93,538 340,767 Restaurant & Bar Sales Tax 172,386 162,947 172,178 507,512 All Other Local Sales Tax *181,767 180,252 164,385 526,405 TOTAL 1,922,624$ 1,911,004$ 2,053,282$ 5,886,910$ FY 2020/21CATEGORY JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNETOTALConstruction Sales Tax 643,435 471,705 517,101 483,032 384,176 321,621 305,338 241,562 254,568 450,343 409,924 442,859 4,925,664 Utility Sales Tax 267,771 337,260 350,040 360,019 286,715 249,286 245,891 271,681 241,698 227,632 221,458 205,402 3,264,853 Retail Sales Tax 647,068 579,089 560,008 613,570 607,315 709,153 889,306 606,222 620,243 748,368 700,138 692,038 7,972,518 Bed Tax 42,564 33,546 32,879 38,003 170,718 105,673 36,242 40,721 99,686 148,989 144,442 130,433 1,023,896 Restaurant & Bar Sales Tax 127,814 114,578 118,223 130,147 158,913 137,151 142,356 130,977 154,257 183,628 167,142 191,389 1,756,575 All Other Local Sales Tax *117,419 174,520 141,653 120,588 200,416 200,756 183,337 164,894 171,734 218,085 193,522 201,188 2,088,112 TOTAL 1,846,071$ 1,710,698$ 1,719,904$ 1,745,360$ 1,808,253$ 1,723,640$ 1,802,470$ 1,456,056$ 1,542,186$ 1,977,045$ 1,836,626$ 1,863,309$ 21,031,618$ * Note: Does not include cable franchise fees or sales tax audit revenues
ATTACHMENT FGeneral Fund State Shared RevenuesFY 2021/22CATEGORY JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNETOTALState Shared Income Tax 500,637 500,637 517,313 1,518,587 State Shared Sales Tax 291,674 534,620 464,795 1,291,089 County Auto Lieu100,364 178,439 214,084 492,887 TOTAL 892,675$ 1,213,696$ 1,196,192$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 3,302,563$ FY 2020/21CATEGORY JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNETOTALState Shared Income Tax 548,361 548,361 548,361 548,361 548,361 548,360 548,361 548,361 548,361 548,361 548,361 548,361 6,580,331 State Shared Sales Tax 243,577 413,638 354,744 490,371 357,106 523,608 454,947 376,182 433,435 572,504 533,021 709,210 5,462,343 County Auto Lieu98,728 256,745 217,528 201,958 162,796 190,665 190,824 175,212 182,116 216,303 197,466 302,323 2,392,664 TOTAL 890,666$ 1,218,744$ 1,120,633$ 1,240,690$ 1,068,263$ 1,262,633$ 1,194,132$ 1,099,755$ 1,163,912$ 1,337,168$ 1,278,848$ 1,559,894$ 14,435,338$