Understanding the Auditors Quarterly Report For reporting purposes, - PowerPoint PPT Presentation

Understanding the Auditor’s Quarterly Report

For reporting purposes, the General Fund and six other funds are combined. The General Corporate Fund is the main operating fund of the County. GENERAL FUND OTHER FUNDS 1. Special Reserve 2. SAO Domestic Violence 3. Environmental Prosecution 4. Economic Development 5. Cost Share Drainage 6. Public Building Commission *

GENERAL FUND ANNUAL BUDGET YEAR-TO-DATE Revenues $ 76,054,792 22,016,415 Expenditures & Encumbrances 75,396,435 36,465,265 Excess (Deficiency) Revenues over Expenditures 658,357 (14,448,050) Other Financing & Net Transfers In (Out) (658,357) (1,824,910) Less: Encumbrances Included Above 0 542,290 Net Change in Fund Balance 0 (15,731,470) General Fund Balance, Beginning of Year 55,695,106 GENERAL FUND BALANCE, END OF QUARTER $ 39,963,636

General Fund Revenues Annual Budget Compared to Actual Quarter-To-Date Through Each of the First Two Quarters of Fiscal Year 2013 $80 This chart includes all budgeted revenue items $70 except opening cash on * All Other hand of $1.766M $60 Fines Reimbursements $50 Millions Charges for Services $40 Other Taxes $30 Property Taxes $20 * All Other includes $10 Licenses & Permits, Grants, Interest and $0 other Misc. Revenues Annual Budget Thru 1st Quarter Thru 2nd Quarter

Kane County Ten Year History of Property Tax Levies Extended General Fund Only $35 $30 $25 Millions $20 $31.87 $31.86 $31.47 $30.63 $30.54 $15 $26.90 $24.50 $21.77 $21.20 $20.69 $10 $5 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Ten Year History Major Other Tax General Fund Revenues Through Second Quarter Fiscal Years 2004-2013 $6.9 $7 $6.2 $6 $4.9 $4.8 $5 $4.6 $4.4 $4.4 $4.2 $4.0 $3.9 $4 Millions $3 $2.8 $2.4 $2.4 $2.1 $1.8 $1.8 $2 $1.7 $1.3 $1.1 $1 $0.5 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Sales Tax Income Tax Local Use Tax Personal Property Replacement Tax

General Fund Expenditures Annual Budget Compared to Actual Quarter-To-Date Through Each of the First Two Quarters of Fiscal Year 2013 $80 $70 All Other $60 Debt Service - Principal & Interest $50 Capital Millions Commodities $40 Contractual Services $30 Personnel $20 $10 $0 Annual Budget Thru 1st Quarter Thru 2nd Quarter

General Fund Balance Changes from Beginning of Fiscal Year to Fiscal Quarter ended May 31, 2013 $60 $55.695 $50 $45.025 $39.964 $40 Millions $30 $20 $10 $0 Beg of Year 1st Quarter 2nd Quarter 3rd Quarter End of Year

Governmental Funds include the GENERAL FUND SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS CAPITAL PROJECTS FUNDS PERMANENT FUND

GOVERNMENTAL FUNDS ANNUAL BUDGET YEAR-TO-DATE Revenues $ 217,551,214 54,961,964 Expenditures & Encumbrances 218,124,401 120,104,140 Excess (Deficiency) Revenues over Expenditures (573,187) (65,142,176) Other Financing & Net Transfers In (Out) 573,187 412,417 Less: Encumbrances Included Above 0 36,294,686 Net Change in Fund Balance 0 (28,435,073) Governmental Funds Balance, Beginning of Year 232,275,718 GOVERNMENTAL FUNDS BALANCE, END OF QUARTER $ 203,840,645

Governmental Fund Revenues Annual Budget Compared to Actual Quarter-To-Date Through Each of the First Two Quarters of Fiscal Year 2013 $180 This chart includes all budgeted revenue items $160 All Other except opening cash on $140 hand of $53.362M Fines $120 Millions Reimbursements $100 Charges for Services $80 Other Taxes $60 Property Taxes $40 $20 $0 Annual Budget Thru 1st Quarter Thru 2nd Quarter

Kane County Ten Year History of Property Tax Levies Extended Overall County Governmental Funds by Fund $60 Capital Improvement Debt Service Fund Public Building $50 Commission Mill Creek SSA Veteran's Commission Fund $40 County Health Fund Millions County Highway Matching Fund $30 County Bridge Fund County Highway Fund $20 Social Security Fund IMRF Fund $10 Insurance Liability Fund General Fund $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Kane County Ten Year History of Property Tax Levies Extended Overall County Governmental Funds by Category $60 $1.01 $1.00 $2.54 $2.54 $2.54 $50 $2.54 $2.54 $19.42 $20.16 $20.60 $21.71 $22.10 $0.00 Debt Service $0.00 $40 $0.00 $20.28 Millions $20.45 Nonmajor Special $20.08 $15.56 $18.40 $30 Revenue Funds General Fund $20 $30.63 $30.54 $31.87 $31.86 $31.47 $21.20 $20.69 $21.77 $24.50 $26.90 $10 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Governmental Fund Expenditures Annual Budget Compared to Actual Quarter-To-Date Through Each of the First Two Quarters of Fiscal Year 2013 $250 $200 All Other Millions Debt Service - Principal & Interest $150 Capital Commodities Contractual Services $100 Personnel $50 $0 Annual Budget Thru 1st Quarter Thru 2nd Quarter

Total Governmental Funds, Funds Restricted, and Funds Available for Budgeted Expenditures as of Fiscal Quarter ended May 31, 2013 $203,840,645 Total $250 Governmental $168,247,854 Funds Nonspendable, Nonmajor Special Restricted, Committed Revenue Funds $200 or Assigned Transportation Sales Tax Fund $150 Motor Fuel Local Millions Option Fund $35,592,791 General Fund Available for other $100 Budgeted Expenditures $50 $0 Total Fund Balance Restricted Use Available for Budget

Countywide Funds include the GOVERNMENTAL FUNDS PROPRIETARY FUNDS

COUNTYWIDE FUNDS ANNUAL BUDGET YEAR-TO-DATE Revenues $ 218,192,726 54,995,924 Expenditures & Encumbrances 218,605,143 120,368,734 Excess (Deficiency) Revenues over Expenditures (412,417) (65,372,810) Other Financing & Net Transfers In (Out) 412,417 412,417 Less: Encumbrances Included Above 0 36,379,146 Net Change in Fund Balance 0 (28,581,247) Countywide Funds Balance, Beginning of Year 251,250,682 COUNTYWIDE FUNDS BALANCE, END OF QUARTER $ 222,669,435

Repo eport O Over erview The various charts are not intended to serve as a substitute for the detail provided in the County Auditor’s Quarterly Financial Report… but will hopefully illustrate some of the comparisons and relationships that will make the report a more useful resource. I appreciate your suggestions as to how to improve the effectiveness of the report. Thank you.

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