Information Item: January - September 2010 Revenue and Expenditures
MEMORANDUM
TO: Downtown Management Commission
Molly Winter, Executive Director
FROM: Donna Jobert, Financial Manager
SUBJECT January - September 2010 Revenue and Expenditures
DATE: 1102010
Shown below is a summary January-September 2010 revenue and expenditures The 20110 budget and 2009
actuals are shown for comparative purposes
Revenue received is 81.5% of budget YTD for 2010 and $303,328 higher than the same time period 2009
Short tern garage revenue is on budget year to date and $72,835 higher than the same period last year
Long term permit revenue is below budget to date, yet 3% higher than 2009 There was a 5% rate
increase in 2010, so the amount above 2009 should be greater We are agressively overselling the other garagellots
to try to make up some of the difference with unsold permits
There are unsold permits at 15th/Pearl, 14th/Walnul and 1000 Walnut.
In 2010 there is a difference between the amount of street meters budgeted in CAGID and the total amount budgeted-
This is due to "bifurcation" The total revenue for 2010 meters is $2,150,000 but the GF transfer to CAGID wilt be $1,725,000.
Through Sept, 100% of the meter revenue has been transferred to CAGID Meters overall are better than budget.
Rental income is below last year There are vacancies and many of the leases have been reworked to help tenants
Property tax is above last year
1000 Walnut tax revenue is also above 2009 in part due to a payment frorn St Julien of $127.651 for maintenance 2004-2009
The balance of the 1000 Walnut increase is primarily due to property tax.
Expenditures for 2010 equal 83.4 % of budgeted expenes and are $851,581 above last years expenditures at the same point.
Operating expenses are 64 9% of budget to dale.
Non operating variances are primarily due to timing of debt payments
We are watching expenses closely to match seductions in revenue with decreased spending
CAGID Jan-Sept 2010 REVENUES
Jan-Sept 2010 2010 Jan-Sept 2009
Revenue Approved % of 2010 Revenue 2009-2010 2009-2010
ACCOUNT Collected Budget Budget Collected Collected $ Difference % Difference
Property Tax 994,230 990,077 100.4% 959,402 34,828 36%
Specific Ownership 32,433 65.100D 49.91k 36,122 (3.689) -102%
Subtotal TAXES 51,026,663 $1,055,077 97„1% $995,524 $31,139 3.1%
Broadway/ Spruce 126,737 160,000 792% 124,362 2,375 1 9%
15th & Peary S T. 131,547 195,000 67.5% 135,536 (3,989) -29%
11 th & Spruce/ S.T. 259,374 355,000 73.1% 232,872 26,502 11.4%
11th & Walnut) ST 172,266 245,000 703% 154,223 18,043 11.7%
14th & Walnut/ S T 65,142 70,000 93 1% 54,944 10,198 186%
10th & Walnut) S.T 234,577 280,000 83.8% 212,727 21,850 103%
Validation Stamps 53,805 54,500 987% 52,455 1,350 2.6%
Garage 20 day Pass 24.200 55.000 440% 26,200 (2,000) -76%
Cash Pass/Value Card 5,426 16,500 329% 6,920 (1,494) -21.6%
Subtotal SHORT TERM PARKING $1,073,074 $1,431,000 75.0% $1,000,239 $72,835 7.3%
11th & Spruce/ Permits 276,110 355,100 778% 261,302 14,808 57%
14th & Walnut/ Permits 165,335 321,180 51 5% 183,564 (18,229) -99%
141h & Canyon 41,698 55,420 752% 39.894 1.804 45%
101h & Walnut 380,994 515,160 740% 368,589 12,405 34%
11th&Walnutl Permits 207,566 259,70D 799% 192,185 15,381 80°%
15th & Pearl/ Permits 490,998 731,400 671% 473,308 17,690 3 7%
177514th 33,404 43,684 765°% 31,313 2,091 6.7%
174514th 52,937 71,720 738% 51,113 1,824 36%
Wail List/Over-Under/CC fees -930 0 -2,130 1,200 -56 3 %
Subtotal LONG TERM PARKING $1,648.112 $2,353,364 70.0% $1,599,138 548,974 3.1%
Tokens 7,381 13,214 55.9% 7,137 244 34%
Meterhoods 12,915 56.500 22-9% 35,113 (22,198) -632%
Cash Key -114 0 - -2,761 2,647 -959%
Meters (Transfer from G.F.) 1,697,523 2,150,000 790% 1,675,320 22,203 13%
Amount returned to GF from meters (425,000)
One Boulder Plaza 7,813 15.625 500% 15.625 (7.812) -50.0°%
Subtotal METERS $1,725.518 $1,810,339 95-3% $1.730,434 ($4,918) -0.3%
Interest 25,710 32,303 796% 29,673 (3,963) -13 4%
10th and Walnut TIF/InteresUMise 1,210,330 1,403,122 863% 1,014,569 195,761 1931/.
Rental lncome-11th&Spruce 16,710 48,000 348% 20,878 (4,168) -200%
Rental Income-15th & Pearl 59,104 174,000 340% 103,084 (43,980) 112 7%
Rental Income-Kiosks 22,480 48,000 468% 12,818 9,662 75 41%
Rental Randolph 923 2,000 46.2% 1,274 (351) -27.6%
Miscellaneous 21,865 19,013 1150% 19,530 2,335 12.0%
TOTAL 56330,489 $8.376,218 81.5% 56,527.161 53D3,328 4.6%
CAGID Jan-Sept 2010 EXPENSES
Jan-Sept2010 2010 % of 2010 Jan-Sept 2009 2009-2010 2009-2010
ACCOUNT Expense Budget Budget Expended Expense $ Difference %Difference
Parking Svcs Personnel 642,364 856,730 750% 587,430 54,934 9.4%
Parking Svcs Non-personnel 547,300 989,215 55.3% 522,858 24,442 4-7%
DUHMD Personnel 416,586 568,440 73.3% 390,532 26,054 6.7%
DUHMD Non-personnel 133,595 301,824 443% 119,447 14,148 11.8%
BIDIDBI conlraclual Services 82.524 90,725 91.01/0 51,646 20,678 33.9%
Subtotal OPERATIONS $1,822.370 $2.806.935 64.9% $1.681,914 5140,455 8.4%
Cost Allocation/Benefitfund/transfers 159,196 212,261 75.0% 127,814 31,382 246%
Debt Service 1,031,662 957,760 107.7% 169,418 862,244 5089%
101h & Walnut construct/DebIService 923,078 916,844 100.7% 934,828 (11,750) -1.3%
10th & Walnut excess Tax Increment 800,918 676,713 118.4% 795,934 4,984 06%
Mall Improvements 512,112 600,000 85.4% 508,387 3,725 0.7%
Capital Maintenancelimprovement 1,315,252 1,755,869 74.9% 1,488,342 (173,090) -11.6%
Eco-Pass Prog. 678,543 792,173 85.7% 684,911 (6,368) -0.9%
Capital Replacement Reserve 177,776 177,775 100.017 177.775 0 0.0%
TOTAL $7,420,905 511,898,330 83.4% $6.569,323 $851,581 13.0%