HomeMy WebLinkAbout07.a.1)a) Receive FY 2015-16 Pre-Audit Year-End Financial Statement Summary ReportCentral Contra Costa Sanitary District
BOARD OF DIRECTORS
POSITION PAPER
Board Meeting Date: September 1, 2016
Subject:
7.a.1)a)
RECEIVE FISCAL YEAR 2015-16 PRE -AUDIT YEAR-END FINANCIAL
STATEMENT SUMMARY REPORT
Submitted By: Initiating Dept/Div.:
Thea Vassallo, CPA, CMA
Finance Manager
Administration/Finance
REVIEWED AND RECOMMENDED FOR BOARD ACTION:
4 -- Roger S. Bailey
General Manager
ISSUE: The Board of Directors approves the Operations and Maintenance (O&M), Capital
Improvement (CIB), Self Insurance, and Debt Service budgets on an annual basis. At
Fiscal Year (FY) end, staff reviews and compares the final revenues and expenditures,
based on the pre -audit financial reports, to update the Board on the budget versus actual
activity.
BACKGROUND: A public hearing was held on June 4, 2015, after which the Board
adopted the FY 2015-16 budgets. The proposed revenue and estimated expenditures
within the adopted FY 2015-16 budgets, actuals, and year-end adjustments are
summarized in Attachment 1.
ALTERNATIVES/CONSIDERATIONS: None.
FINANCIAL IMPACTS: Due to the FY 2015-16 favorable variances in the O&M and CIB
Budgets, the District's beginning cash balances for FY 2016-17 are higher than projected.
COMMITTEE RECOMMENDATION: The Finance Committee reviewed this subject at its
August 23, 2016 meeting and recommended receipt of the Statements and Report.
RECOMMENDED BOARD ACTION: Receive the Fiscal Year 2015-16 Pre -Audit YE
Financial Statement Summary Report.
Attached Su000rtina Document:
1. Attachment 1— Pre -Audit - June 2016 Financial Statement Summary
ATTACHMENT 1
Pre -Audit - June 2016
Financial Statement Summary
Budget Actual
2015-16 2015-16 Variance
Operations & Maintenance
Revenues 87,492,300 91,269,381 3,777,081 SSC $2.1M, Permit, Side Sewer,
and Annexation $1.1M
Expenses 87,464,864 84,613,266 (2,851,598) * See page 2
Total 2/,43b 6,656,115 6,628,679
Sewer Construction
Revenues 28,767,500 32,300,513 3,533,013 Capacity $1.4M, Property
Taxes $1.0M, Concord $0.5M
Expenses 30,790,000 27,705,114 (3,084,886) Delayed Spending
Total (2,022,500) 4,595,399 6,611,899
District Totals (4 Funds)
Revenues 121,667,505 128,937,328 7,269,823
Expenses/Debt Principal 123,994,194 117,729,887 (6,264,307)
Total (2,326,689) 11,207,441 13,534,130
130,000,000
120,000,000
110,000,000
100,000,000
90,000,000
80,000,000
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0
Revenues
Expenses/Debt Principal
CCCSD
Compare Annual Budget to Pre -Audit 2015-16 Actual
121, 667, 505
123,994,194
• Revenues
Expenses/Debt Principal
128,937,328
117,729,887
ATTACHMENT 1
Pre -Audit - June 2016
Financial Statement Summary
Operations and Maintenance
($ 000)
+ Favorable
Variance
Explanation
Salaries & Benefits 179 Unfilled vacancies offset by less charged to capital
Chemicals 235 Lower cost of Lime and Tess Polymer purchased
Utilities 1,147 $585k Electrical
$469k Natural Gas
Repairs & Maintenance
Hauling & Disposal
Outside Services
Other
479 CSO Outside Repairs & Maintenance $479k
109 Less spent on removal and HHW mobile collection
329 Less spent on outside safety and technical services
374 $73k Public information
$101k Technical training & conferences
$74k Tuition & professional reimbursement
Total Under Budget 52,852