Annual Financial Report to Annual Financial Report to Annual Financial Report to Annual Financial Report to Commissioners Court for Commissioners Court for the Fiscal Year Ended the Fiscal Year Ended September 30, 2011 September 30, 2011 Presented by: County Auditor Office Presented by: County Auditor Office April 11, 2012 April 11, 2012
Change in Fund Balances by Fund Change in Fund Balances by Fund From the Previous Year From the Previous Year Increase Fund Balance %of Budget Revenue (Decrease) 09/30/11 and Transfers In General Fund 21,922,657 31.13% (2,106,833) Debt Service 3,965,499 36.49% 379,788 Road & Bridge 2,992,126 47.72% (1,019,144) Stadium 388,312 , 18.37% (11,079) ( , ) Law Library 288,111 163.51% 9,201 Airport (3,068) (3.39)% (122,373) Inland Parks 213,476 17.63% 88,697 Coastal Parks 1,282,143 73.70% (100,135)
09/30/11 ending fund balance = $21,922,657 or 31.13% of the total 09/11 budgeted revenues and transfers in. (25% X $70,416,331 = $17,604,083 “Target Fund Balance”)
What caused the fund balance to decrease in the What caused the fund balance to decrease in the What caused the fund balance to decrease in the What caused the fund balance to decrease in the General Fund? General Fund? % of Budget % of Budget Total Actual Revenues Total Actual Revenues $70,608,611 $70,608,611 $70 608 611 $70 608 611 100 27% 100.27% & Transfers in & Transfers in Average…. Average…. 102.72% Total Actual Expenditures Total Actual Expenditures 94.39% (72,715,444) (72,715,444) & Transfers Out & Transfers Out Average…. Average…. 96.53% $( , $( , $(2,106,833 $(2,106,833 ) , , ) • Deficit Deficit Deficit Deficit
General Fund Revenues Exceeding Budget General Fund Revenues Exceeding Budget By Over $100 000 By Over $100 000 By Over $100,000 By Over $100,000 - - High Performance High Performance High Performance High Performance Amount over Budget Budget Fees of Office Fees of Office $3,478,000 $115,694 Motor Vehicle Motor Vehicle Services Services $2,000,000 $319,561 Intergovernmental Intergovernmental $497,824 $4,651,558
Those Revenues with High Performance Those Revenues with High Performance “Hi h “Higher than Budget” “Higher than Budget” “Hi h th th B d B d t” t” Fees of Office – Fees of Office $89,163 $89 163 $89 163 $89,163 Criminal Court Collection Fees Criminal Court Collection Fees $13,221 $13,221 JP 2 JP 2- -1 1 - - Honorable J. Stoner Honorable J. Stoner $18,859 $18 859 $18,859 $18 859 Constable 2 - J Boucher Constable 2 Constable 2 Constable 2 J. Boucher J Boucher J. Boucher Motor Vehicle Services Motor Vehicle Services $319,561 $319,561 $319 561 $319 561 Higher Auto Sales Higher Auto Sales Intergovernmental – Intergovernmental g $186,462 $186,462 Tax Collection Fees Tax Collection Fees $115,038 $115,038 State Alcohol Beverage Tax State Alcohol Beverage Tax $340,799 $340,799 Indigent Defense Reimbursement Indigent Defense Reimbursement
Those Revenues with Low Performance Those Revenues with Low Performance “Under Budget” “Under Budget” Property Taxes Property Taxes $ (415,052) $ (415,052) Intergovernmental Intergovernmental $ (190,320) $ (190,320) Less Reimbursement for Jail Infirmary Less Reimbursement for Jail Infirmary $ ( $ ( $ ( 19,583) $ ( 19,583) , , ) ) Less Reimbursement for 911 Program Less Reimbursement for 911 Program Less Reimbursement for 911 Program Less Reimbursement for 911 Program Less Salary Reimbursement Less Salary Reimbursement $ ( 75,283) $ ( 75,283) Housing Inmates & Juveniles Housing Inmates & Juveniles Housing Inmates & Juveniles Housing Inmates & Juveniles $ (280 055) $ (280 055) $ (280,055) $ (280,055) Investment Income Investment Income $ (118,183) $ (118,183)
General Fund Expenditures with High Performance General Fund Expenditures with High Performance – – “U d “Under Budget by Over $100,000” “Under Budget by Over $100,000” “U d B d B d t b O t b O $100 000” $100 000” % of Budget Saved % of Budget Saved Department Department 5.94% 5 94% 5 94% 5.94% 1. Tax Assessor Collector 1 Tax Assessor Collector 1. Tax Assessor Collector 1 Tax Assessor Collector 15.69% 15.69% 2. Information Technology 2. Information Technology 8.49% 8.49% 3. County Auditor 3. County Auditor 20.60% 20 60% 20 60% 20.60% 4. Mechanical Maintenance 4. Mechanical Maintenance 17.05% 17.05% 5. McKenzie Annex 5. McKenzie Annex 20.28% 20.28% 6. Court Administration 6. Court Administration 12.01% 12.01% 7. Justice Boot Camp 7. Justice Boot Camp 5.12% 5.12% 8. District Clerk 8. District Clerk 2 67% 2 67% 2.67% 2.67% 9 County Sheriff 9. County Sheriff 9. County Sheriff 9 County Sheriff 17.07% 17.07% 10. ID Bureau 10. ID Bureau The department with the highest percentage under budget was Mechanical The department with the highest percentage under budget was Mechanical Maintenance. Transfer to special revenues department 1352 for energy savings was $156,431.
Other Comments Other Comments Other Comments Other Comments 1 General F nd transfers o t for Co rtho se 1.General Fund transfers out for Courthouse Security Fund were increased by $33,350 due to shortfall due to shortfall. 2.Road Fund expenditures for rock material, oil p and other paving materials, and gasoline is on the rise. Higher than prior year all together by $482 539 $482,539. 3 The Airport Fund has a negative ending fund 3.The Airport Fund has a negative ending fund balance of ($3,068).
Nueces County Economic Indicators Nueces County Economic Indicators 2011 2010 Unemployment Rates 7.8% 7.60% Retail Sales 11.68% $4,288,389,104 $3,840,034,538 New Construction 33.63% $290,800,704 $217,621,342 Home Sales 1.94% $534,980,028 $524,798,817 FDIC Deposits FDIC Deposits 5 2% 5.2% $3 715 442 $3,715,442 $3 529 395 $3,529,395 CPI increase from average of 2010 to 2011 was 3 16% CPI increase from average of 2010 to 2011 was 3.16%
Fiscal Impact Fiscal Impact Estimated Ending Fund Actual Balance 9/30/11 Used for Actual Ending 2011/2012 Budget Fund Balance 9/30/11 9/30/2010 General Fund Balance General Fund Balance $24,029,489 $20,130,557 $21,922,656 $24 029 489 $20 130 557 $21 922 656 Difference between estimated and actual Difference between estimated and actual $1,792,099 $1,792,099 equals higher fund balance by equals higher fund balance by ~~~~~~~~~~~~~~~~~~~~~~~~~~ $21,922,656 Actual 9/30/11 Ending Fund Balance Actual 9/30/11 Ending Fund Balance Projected deficit using 101.5% for revenues and Projected deficit using 101.5% for revenues and (3,020,803) 96% for expenditures 96% for expenditures 18 901 853 18,901,853 Projected 09/30/12 Ending Fund Balance Projected 09/30/12 Ending Fund Balance Projected 09/30/12 Ending Fund Balance Projected 09/30/12 Ending Fund Balance 25% Target Balance 25% Target Balance (17,626,643) $1 275 210 $1,275,210 Projected Unassigned General Fund Ending Fund Balance at 09/30/12 P Projected Unassigned General Fund Ending Fund Balance at 09/30/12 P j j t d U t d U i i d G d G l F l F d E di d E di F F d B l d B l t 09/30/12 t 09/30/12
Ernest R. Garza & Company CPA, PC will Ernest R. Garza & Company CPA, PC will present an unqualified opinion and present an unqualified opinion and management letter to Commissioners Court management letter to Commissioners Court at a later meeting. at a later meeting. The annual financial report was filed with The annual financial report was filed with Estrada & Hinojosa by due date meeting all Estrada & Hinojosa by due date meeting all j j y y g g of the continuing disclosure requirements of of the continuing disclosure requirements of the bond rating agencies. the bond rating agencies. g g g g Thank You Thank You Thank You Thank You
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