Quarterly Financial Update Through 6/30/2020 Presented to Pullman City Council July 28, 2020
General Fund Revenue • 2020 Revenue Budget is $23,349,491 • Adopted budget used $1,649,861 of reserves to balance • GEMT Grant ∆ up $606,660 • Liquor & Marijuana ∆ up $49,266 or 22.2%
Sales Taxes Revenue • 2020 Revenue Budget is $5,000,000 • April Collections down 20.02% YoY • May Collections Imminent • Just starting to realize the effects of economic slow down
Property Tax Revenue • 2020 Revenue Budget is $7,700,000 • May & June Collections Helped Close the Gap on Budget • Critical to Operations as well as Meeting GO Bond Debt
Private Utilities Revenue • 2020 Revenue Budget is $2,157,000 • Natural Gas down 44.1% - Probably Attributable to Curtailed Operations • Electricity & Garbage up 21.1% • Telephone down 12.7% - Households Cancelling Land Lines
City Utility Fund Revenues • 2020 Revenue Budget is $16,385,516 • City Council Approved Payment Plan for Individuals Affected Financially by COVID-19 Pandemic • WSU Utility Payment Increase YoY for $817,247 (Timing of Payment)
Building Permit Revenue • 2020 Revenue Budget is $390,000 • Provides Insight to for Future Activity Including Sales Tax Collections • April was Essentially Shut Down for Construction as well as Public Hearings at the Planning Commission Level
Street & Arterial Streets Revenues • 2020 Revenue Budget is $3,965,710 • Private Utilities Revenue is a Streets Fund Revenue • REET down $34,373 for 23.2% • Fuel Tax up $16,027 for 9.1% - Chasing Theories as to Why
Transit Revenues • 2020 Revenue Budget is $6,213,700 • Refund requested by Pullman School District – timing of payments as well • Refunds requested by WSU – timing of payments as well • FTA Grant Stabilizing Activity
Civic Improvement Fund Revenues • 2020 Revenue Budget was $377,000 before 12/17/2019 Budget Amendment • Hotel & Motel Tax is Primary Revenue Source • Cancellations of Mom’s Weekend, Graduation, Summer Events
General Fund Expenses • 2020 Expense Budget is $24,869,352 • Biggest Change was not Performing Interfund Transfers in June for a total of $1,356,000
Legislative Expenses • 2020 Expense Budget is $227,807 • Difference Attributable to Timing of Whitman County Auditor invoice as well as an increase from the County Auditor of $27,886 or 76.6%
Finance & Administration Expenses • 2020 Expense Budgets are $3,003,539 • Change YoY attributable primarily to CIP expenditures at New City Hall and Liability Insurance Increases, also added an additional Accountant in the Finance Department 2020Q1
Law Enforcement Expenses • 2020 Expense Budget is $8,370,917 • $341,639 of Savings Attributable to Delaying Interfund Items • Overtime Decreased by $76,601
Fire & Ambulance Expenses • 2020 Expense Budget is $7,399,197 • $433,764 of Savings Attributable to Delaying Interfund Items • Overtime Decreased by $65,873
Community & Economic Development Expenses • 2020 Expense Budget is $1,466,425 • $53,267 of Savings Attributable to Delaying Interfund Items • Economic Development Department Added in 2019Q4 • Inspections Filled Empty Position from 2019 at in mid-2020Q1
Library Expenses • 2020 Expense Budget is $1,791,623 • $99,029 of Savings Attributable to Delaying Interfund Items • Roof Repairs Completed in 2020Q3
Parks & Recreation Expenses • 2020 Expense Budget is $3,770,111 • $288,748 of Savings Attributable to Delaying Interfund Items • Additional Savings Due to Curtailed Operations
Streets & Arterial Street Expenses • 2020 Expense Budget is $6,062,279 • Increase attributable to proportional share of New City Hall expenditures • Postponed Resurfacing to 2021 Due to State Interpretation on Bidding Requirements
Utilities Expenses • 2020 Expense Budget is $25,945,535 • $521,693 of Savings Attributable to Delaying Interfund Items • Significant Capital Project Expenditures during same period in 2019
Transit Expenses • 2020 Expense Budget is $5,996,739 • $715,398 of Savings Attributable to Delaying Interfund Items • FTA Grant Assistance with both Operating and Capital Expenses
Internal Service Funds Expenses • 2020 Expense Budgets for Buildings, IT, and ERD functions were $7,091,377 prior to 12/17/2019 Budget Amendments • $75,609 of Savings Attributable to Delaying Interfund Items • Proportional share of expenditures at New City Hall
Final Thoughts • Follow-Up Budget Meetings for 2020 with Mayor & Department Heads Scheduled 8/4 and 8/6 • Economic Outlook • Update on 2021-2022 Budget Process • Questions? – Available Offline As Well • Thank You
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