HomeMy WebLinkAbout05.b. Receive August 2020 budget-to-actual financial overview Page 1 of 3
Item 5.b.
,orVIOIN SAN
October 20, 2020
TO: FINANCE COMMITTEE
FROM: CHRISTOPHER THOMAS, FINANCE ADMINISTRATOR
KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION
ROGER S. BAILEY, GENERAL MANAGER
SUBJECT: RECEIVE AUGUST 2020 BUDGET-TO-ACTUAL FINANCIAL OVERVIEW
Financial Highlights
Attached for review are the August 2020 variance analyses for the Running Expense (O&M Fund) and
Sewer Construction (Capital Fund).
Two months into the fiscal year (FY), O&M Fund expenditures are 13.5% of the total FY 2020-21 budget,
or 3.2% under the year-to-date budget target of 16.7% of annual budgeted expenditures. O&M Fund
revenues are below the year-to-date target by$403,767 (44.7%), but this is simply a timing issue. SSC
revenues are expected to be above the annual budget based on analysis staff presented to the Board at
the October 2 meeting.
The Sewer Construction Fund has spent$3.9 million or 3.7% of the total year-to-date budget for capital
project expenditures. On the revenue side, the Sewer Construction Fund is reporting a negative year-to-
date variance of $106,617 (-9.1%), but this is expected to be a timing difference only at this time, with
annual revenues still forecasted to be at or above budget.
Strategic Plan Tie-In
GOAL THREE: Fiscal Responsibility
Strategy 1—Maintain financial stability and sustainability, Strategy 2—Ensure integrity and transparency in financial
management
ATTACHMENTS:
1. Financial Overview-August 2020
October 20, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 51 of 111
► I CENTRAL SAN
Wednesday,October 7,2020
To:The Board of Directors 5019 IMHOFF PLACE,MARTINEZ.CA 94553-4392
From:Finance Division
Subject:0&M Fund Budget-to-Actual Overview
Timeframe:FY 2020-21 Year-to-Date(Through August 2020)
YTD
YTD Fav/(Unfav)
YTD YTD Fav/(Unfav) Variance
Total FY Budget Budgeted Actual Variance (%) Significant Variance Explanations
Revenue:
Operating Revenues $ 62,464,762 $ 409,599 $ 27,257 $ (382,343) -93.3% Non-SSC revenues budgeted evenly throughout year.
Expecting actual revenues to catch up later in FY.
Non-Operating Revenues 2,967,400 494,567 473,142 (21,425) -4.3%
Total Revenue $ 65,432,162 $ 904,166 $ 500,398 $ (403,767) -44.7%
Expenses:
Salaries&Wages $ 39,543,191 $ 6,590,532 $ 5,978,182 $ 612,350 9.3%
Employee Benefits 11,545,173 1,924,196 1,796,342 127,853 6.6%
Retiree&Unfunded Liabilities 15,827,016 2,637,836 2,222,011 415,825 15.8% $1.25M budgeted towards UAAL not directed to specific
trust by Board until October.
Purchased Property Services:
Repairs&Maintenance 4,090,401 681,734 419,276 262,458 38.5%
Hauling&Disposal 1,014,425 169,071 (111,438) 280,508 165.9% Reversal of PY expense accruals in July. Negative balance
projected to be eliminated later in fiscal year.
Security 650,800 108,467 9,761 98,706 91.0%
Rentals 190,701 31,784 22,388 9,396 29.6%
Cleaning 388,250 64,708 49,419 15,289 23.6%
Purchased Professional,Technical&
Other Services:
Professional Services 728,200 121,367 81,990 39,377 32.4%
Technical Services 3,236,580 539,430 170,365 369,065 68.4%
Other Purchased Services 2,340,697 390,116 128,857 261,259 67.0%
Supplies&Materials:
Utilities&Fuel 4,689,650 781,608 425,056 356,552 45.6%
Chemicals 1,534,000 255,667 250,856 4,811 1.9%
General Supplies 3,242,650 540,442 291,144 249,298 46.1%
Other Expenses:
Insurance&Risk Management 450,000 75,000 450,000 (375,000) -500.0% Self insurance contribution made at beginning of FY.
Memberships 628,279 104,713 22,645 82,069 78.4%
Training&Meetings 515,075 85,846 7,863 77,983 90.8% Lower costs incurred for training and meetings while
COVID-19 precautions remain in place.
Miscellaneous Other 51,250 8,542 (3,365) 11,907 139.4%
Total Expenses $ 90,666,338 $ 15,111,056 $ 12,211,350 $ 2,899,706 19.2%
Abbreviations Legend,
FY=Fiscal Year
PY=Prior Year
UAAL=Unfunded Actuarially Accrued Liability
SSC=Sewer Service Charges
Page 1 of 2
October 20, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 52 of 111
TRAL SAN
Wednesday,October 7,2020 'ANA PEN
To:The Board of Directors Em
From:Finance Division
Subject:Sewer Construction(Capital)Fund Budget-to-Actual Overview
Timeframe:FY 2020-21 Year-to-Date(Through August 2020)
YTD
YTD Fav/(Unfav)
Total YTD YTD Fav/(Unfav) Variance
FY Budget Budgeted Actual Variance (%) Significant Variance Explanations
Revenue:
Sewer Service Charges-Capital $ 56,673,402 $ - $ 66,358 $ 66,358 Bulk of sewer service charges collected later in FY.
Other Revenues 22,979,500 1,173,250 1,000,275 (172,975) -14.7%
Capital Contributions 15,300,000 - - Concord share of treatment plant capital billed and
collected after close of FY(Aug/Sept)each year.
Total Revenue: $ 94,952,902 $ 1,173,250 $ 1,066,633 $ (106,617) -9.1%
Expenses by Program:
Collection System $ 46,686,784 $ 5,606,959 $ 1,857,075 $ (3,749,884) -66.9%
Treatment Plant 39,194,584 1,908,302 483,938 (1,424,364) -74.6%
General Improvements 6,108,365 642,258 1,449,863 807,605 125.7%
Recycled Water 11,506,037 694,525 153,033 (541,492) -78.0%
Contingency 2,535,179 - -
Total Expenses: $ 106,030,949 $ 8,852,045 $ 3,943,909 $ (4,908,136) -55.4%
*Includes rollover of unspent capital project appropriations from prior year of$21.0 million.
**Spent 44.6%of projected YTD budget.
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October 20, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 53 of 111