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Ogden City Council Work Session: March 10, 2020

OGDEN CITY FISCAL YEAR 2020 – 2nd QUARTER FINANCIAL REPORT - Information Item

The City Council has received the Fiscal Year 2020 quarterly financial report ending December 31, 2019. This report summarizes various fund expenditures, revenues and general financial information.

Financial Quarterly Report State law requires that quarterly financial reports are provided to the City Council. Reports are provided for quarters 1, 2 and 3, but are not required for the 4th quarter because the Comprehensive Annual Financial Report (CAFR) satisfies this need.

Utah Code Ann. § 10-6-147 – Quarterly Financial Reports The city auditor in cities of the first and second class shall prepare and present to the governing body appropriate quarterly financial reports.

Financial Principles for FY2020 The City Council and Administration jointly adopted FY2020 financial principles on March 26, 2019. The section relating to quarterly financial reports is summarized below.

FY2020 Financial Principles – Quarterly Report Not later than 45 days after the end of each quarter, the Administration shall provide quarterly financial reports to the City Council that include the following:

a) Actuals to budgeted revenues and expenditures b) Balance sheet for governmental funds c) Fund balance analysis for governmental funds d) Cash balance analysis for proprietary funds

These reports are not required to contain notes to the financial statements. Estimates can be included as appropriate.

General Fund Summary • Overall, general funds appear to be tracking with the

FY2020 adopted budget, and sales tax revenue is anticipated to meet budget projections.

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Ogden City Council Work Session: March 10, 2020

• The Engineering Division budget includes some negative expenses due to a reclassification of expenses to the Utility Funds.

Special Assessment Funds

• Transient room taxes are being received on track as 51%

of projected totals have been collected.

Capital Improvement Fund • A payment has been received from Dinosaur Park, with a

budget amendment anticipated to propose designating this amount for trails.

• CIP carryovers from FY 2019 are included as part of the CIP revenues. However, these have not yet been posted to FY 2020.

Other Funds • The Water, Sanitary Sewer, Storm Sewer and Refuse

funds are all anticipated to meet projected revenues.

• Airport intergovernmental revenue has not been received because this generally requires the Airport fund to incur expenses before being reimbursed.

• Golf funds reflect a transfer for the CIP project GF032 – Golf Irrigation System Replacement.

• Recreation revenues are near 34% but will likely increase as a result of seasonal activities.

• The Miscellaneous Grants & Donations Fund is currently over budget, at 348% of the budgeted amount, due to prior year grants being received into this account. A budget opening is anticipated to address this.

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Ogden City Council Work Session: March 10, 2020

Revenue and Expenditure Summary

Part 1 Annual Budget

Revenue Expenditures

General Fund $64,541,100 $34,776,064 $27,683,013 Water Utility $26,366,525 $2,819,702 $9,517,043 Property Management Fund - BDO $24,658,975 $12,795,545 $14,276,294 Redevelopment Agency $17,709,075 $13,928,829 $2,254,780 Sanitary Sewer Utility $13,266,775 $6,031,613 $6,515,378 Facilities/Fleet/Stores Fund $10,695,400 $2,470,301 $2,969,996 Major Grants $10,332,775 $4,738,297 $4,669,642 Medical Fund $8,728,825 $2,968,882 $3,194,776 Storm Sewer Fund $7,393,450 $3,414,803 $2,901,256 Refuse Utility $7,141,625 $2,483,397 $2,135,154 Management Information Systems $5,977,675 $2,987,741 $2,630,345 Hinckley Airport $5,554,625 $2,946,878 $2,626,838 Capital Improvements $3,727,200 $268,305 $1,731,549

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Revenue and Expenditure Summary2nd Quarter | Part 1

Revenue Annual Budget Expenditures

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Ogden City Council Work Session: March 10, 2020

Revenue and Expenditure Summary

Part 2 Annual Budget

Revenue Expenditures

Risk Management $1,781,725 $865,443 $1,748,617 Golf $1,710,450 $818,804 $966,511 Municipal Building Authority $537,425 $266,175 $42,771 Special Assessments $324,275 $97,709 $120,755 Recreation Enterprise Fund $320,400 $103,581 $148,234 Misc. Grants & Donations $58,875 $145,410 $207,036 Nicholas & Cemetery Trust Funds $38,250 $14,095 $1,721

1. Administrative Transmittal

a. Quarterly Financial Report Council Staff Contact: Amy Sue Mabey, (801)629-8629

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Nicholas &Cemetery Trust

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Revenue and Expenditure Summary2nd Quarter | Part 2

Revenue Annual Budget Expenditures