The URL can be used to link to this page

Jan-June 2008 Revenue and Expenditures MEMORANDUM TO: UHGID Advisory Committee Molly Winter -Executive Director FROM: Donna Jobert, Financial Manager SUBJECT: Jan-June 2008 Revenues and Expenditures DATE: July 22, 2008 Shown below is a summary of Jan-June 2008 revenues and expenditures. The 2008 budget and 2007 actuais are shown for comparative purposes. Revenues are 42% of total budget collected and are up $23,183 when compared with last year. Meter revenues for street and lot meters are under budget to date but are above last years revenue to date. This is due to budgeting a full year for the rate increase, but it not beginning until late February. Permit revenue for the Pleasant Lot are comparabe to last year. One quarter does not necessarily show trends, but we will be watching revenue closely and adjust accordingly. Expenditures for 2008 equal 44% of budgeted expenses, if the capital cost of the paystations is not included. Significant variances include expenditures for lighting, and the data and finance costs associated with the paystations. Cost allocation (amount UHGID pays the City GF for services) increased over 2007. We monitored revenue/expense variances closely to match revenue trends in the District. UHGID Revenues and Expenditures -Jan-June 2008 Jan-Jun 2008 2008 Jan~lun 2007 Revenue Approved % Revenues 2007-2008 2007-2008 Revenues Collected Budget Collected Collected $ Difference % Difference Taxes $16,810 S28,644 59% $19,718 ($2,908) -15% Sirect Meters $102,097 $258,000 40% $82,259 $19,838 24% 14th Street Lot $24,949 S84,177 30% $22,961 S1,988 9% Pennsylvania Lot $44,290 $86,071 51% $27,661 $16,629 60% Pleasant Lot (permits) $17,943 $34,928 51% $18,028 ($85) 0% Pleasant Lot (meters) $5,767 $21,269 27% $6,538 ($771) •12% Tokens $105 $365 29% $149 ($44) -30% Meterhoods $3,397 $4,000 85% $4,788 ($1,391) -29% Insurance reimbursement $3,895 $0 - $10,325 ($6,430) -62% Miscellaneous revenues $240 So - SO $240 - Interest $10,255 $34,081 30% $14,138 ($3,883) -27% TOTAL $229,748 $551,535 42% $206,565 $23,183 11% Jan-Jun 2008 2008 % Jan~Jun 2007 2007-2008 2007-2008 Expenditures Expense Budget Expended Activity S Difference % Difference Parking Svcs Personnel $63,141 $127,772 49% 557,774 $5,367 9% Parking Svcs Non-personnel $52,235 $115,598 45% $30,008 $22,226 74% Pay Station Capital $272,017 $300,000 9t% $0 $272,017 - DUHMD Personnel $45,152 $93,706 48% $39,211 $5,941 15% DUHMD Non-personnel $13,112 $30,016 44% $13,597 ($485) -4% Economic Vitality - Redely/Parking Studies $19 $25,000 0% $16,311 ($16,292) -100% Eco-Pass Prog. $0 $662 0% $0 $0 - Misc $0 $0 #DIV/0! ($41) $41 -100% Cost AllocationBenefitfund $16,109 $32,218 50% $15,489 5620 4 Capital Replacement Reserve $0 $9,000 0°i° $9,000 ($9,000) -100% TOTAL S461,784 5733,972 63% S181,348 S280,435 155% CITY OF BOULDER 2008 FUND FINANCIAL University Hill Commercial District Fund 2007 2008 2009 2010 2011 2012 2013 2014 ACTUAL REVISED RECOMMENDED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED UNAPPROPRIATED FUND BALANCE Beginning of the Year 5719,509 $734,937 $553,006 5614,459 5655,613 $884,551 5702,333 5706,153 SOURCES OF FUNDS UHGID Sources of Funds Property Tax $25,408 526,744 526,577 $27,375 $28,196 $29,042 $29,913 $30,810 Ownership Tax $1,770 51,900 $1,850 $1,850 $1:850 51.850 51,850 $1,850 SUBTOTAL: UHGID Taxes ~ $27,178 $28,644 _ 528,427 •529,225 _ $30,046 $30,892 $31,763 $32,660 14th Street Lot-Meters 544,584 $84,000 580,000 580,000 580,000 $80,000 580,000 580,000 Pleasant Lot--Meters 513,237 521,400 518,150 518,150 518.150 $18.150 $18,150 $18,150 Pleasant Lot--Permits 535.203 534,928 537,000 $38,850 538,850 $40,793 $40,793 $42,833 Parking Prcducts - hleterhoods/Tokens 52.878 51,222 51,222 51.222 51,222 51,222 St.222 51,222 SUBTOTAL: UHGID Parking $95,902 $141,550 5136,372 5138,222 $138.222 5140,165 5140,165 $142,205 Insurance Reimbursement 510.575 InteresC tvlisc. 511.602 511 .247 58.319 57,099 57.572 57.906 58.112 58.156 TOTAL UHGID SOURCES $145.257 5181.441 5773.118 5174-546 5175,$gQ $lj~~ ~Q,QQQ ~,Qj~ City of Boulder General Fund Transfers On-Street Meters 5163,535 $257,617 $258,000 $258,000 5258,000 $258,000 $258,000 $258,000 13th & Pennsylvania Lot -Meters $63,765 586,500 $90,000 $90,000 590,000 $90,000 590,000 $90,000 Parking Products - Meterhoodslfokens 57,399 53,143 53,143 $3,143 53,143 $3,143 $3,143 $3,143 SUBTOTAL: GF Parking $234,699 $347,260 5351,143 $351,143 $351,143 $351,143 $351,143 $351,143 InteresU Misc. 523,557 $22,834 516,890 514,409 515,374 516,053 $16,470 $16,559 TOTAL GF TRANSFER SOURCES X58.256 5370.094 $368.033 x.552 X66.517 5367"196 ~.Z.61.3 $367.702 TOTAL SOURCES OF FUNDS $403,513 5551,535 5541,151 5540,098 $542 ~ .1^a48,1b9 5547,663 $550,723 UHGID USES of Funds Parking Operations Personnel 589,713 $95,081 $93,879 597,600 5101,504 $105,564 $109,787 $114,178 Parking Operations NonPersonnel 566.659 $92,132 $49,277 550,280 551,286 $52,311 $53,357 554,425 Capital Major Maintenance/Improvements $0 $10,200 $10,404 510,612 510,824 $11,041 511,262 511,487 Capital Replacement Reserve $9,000 $9,000 59,000 $9,000 $9,000 $9,000 59,000 $9,000 DUHMD/Admin Personnel $26,409 530,756 532,238 $33,527 $34,868 $36,263 537,713 $39,222 DUHMD/Admin Non Personnel $9,674 9245 $9,430 $9,619 $9,811 $10,008 $10,208 $10,412 Marketing/Economic Vitality/Studies $16,114 525,000 $0 $0 $0 SO $0 SO Eco-Pass Program SO $662 $675 $687 $701 5715 $729 5744 SickNacation Accrual 52,966 5304 $282 5282 5291 5301 5310 5320 Cost Allocation 518.586 519,331 522.787 526.243 526,637 527.037 527.443 527.855 SUBTOTAL• UHGID Uses of Funds 5239.121 5291.7,u $?27.972 s z~ 5244v~ $~Q,$JQ 7/25/2008 CITY OF BOULDER 2008 FUND FINANCIAL University Hill Commercial District Fund 2007 2008 2009 2010 2011 2012 2013 2014 ACTUAL REVISED RECOMMENDED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED City of Boulder General Fund Uses of Funds Parking Operations Personnel 530.623 $32,691 543,808 545,541 547,363 $49,257 551,227 $53,277 Parking Operations Non Personnel 514,919 $313,266 558,409 $59,740 $60,935 $62,153 $63,397 $64,664 Capita! Major Maintenance/Improvements $20,000 DUHMDIAdmin Personnel $53,619 $62,444 $65,453 $68,071 $70,794 573,626 $76,571 $79,633 DUHMD/Admin NonPersonnel Si9,64U $18,771 $19,147 519,529 519,920 $20,318 $20,724 $21,139 Marketing/F_conomic Vitality 5738 $0 $0 50 $0 $0 SO $0 Sick/Vacation Accrual $1,978 5202 5240 5240 $248 $256 5264 $273 Cost Allocation S12_,391 $12,887 $15,191 $17,495 $17,757 $18,023 $18,293 $18,567 SUBTOTAL: GF Uses of Funds S153,90g 5440.2fii $LQ2.246 S210 616 5217 016 5223,633 5230 476 52.37.553 Action Plan Add'I operating cost for pay station cc fees $27,000 S27,540 $28,091 $28,653 529,226 $29,810 Marketing and Events $10,000 $10,200 $10,404 $10,612 $10,824 S11,041 Studies $13,000 $13,260 $13,525 $13,796 $14,072 $14,353 Total Action Plan uses $0 $50,000 $51,000 $52,020 $53,060 $54,122 $55,204 TOTAL OPERATING USES OF FUNDS $393,029 $731,972 $480,220 $499,466 $513,958 $528,932 $544,407 S560,399 TRANSFERS TO OTNER FUNDS Carryovers & Encumbrances 52,000 SO $0 SO $0 SO 50 TOTAL USES OF FUNDS $393,029 S733,972 5480,220 $499,466 S513,958 $528932 $544,407 $560,399 SickNacation Accrual Adjustment (54,944) ($506) ($522) (5522) (5539) ($556) ($575) (5593) UNAPPROPRIATED FUND BALANCE $734.Q$j $,~3 006 5614.459 $_655.61$ 5684.551 S702.~ $706.153 5697.070 Designations: Designated Reserve $98,257 5183,493 $120,055 $124,867 $128,489 5132,l_33 $136,102 5140,100 Natural Disaster Reserve-TABOR $4,404 $6,128 $5,700 $5,669 $5,736 55,850 $5,895 55,987 Pay Period 27 - 2013 Reserve $1,127 $2,417 $4,017 $5,617 $7,217 58,817 $10:417 512,017 Sick and Vacation Liability Reserve 515,735 $16,241 516,763 517.285 S17,824 518,380 518,955 519.548 SURPLUS/(DEFICIT) vs. RESERVE GOAL $615,413 $344,726 5467,923 $502;175 $525,284 5537,052 $534,784 $519,417 REVENUES LESS USES PLUS RSRVS 515,428 (S181,931) 561,453 $41,154 $28,938 517,783 53,820 ($9,084) 7/25/2008