HomeMy WebLinkAbout02. Receive August 2020 Budget-to-Actual Financial Overview Page 1 of 3
Item 2.
CENTRALSAN
Jdf A- hom
CENTRAL CONTRA COSTA SANITARY DISTRICT
November 5, 2020
TO: HONORABLE BOARD OF DIRECTORS
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 1, 2020 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 forecast 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
November 5, 2020 Regular Board Meeting Agenda Packet- Page 19 of 150
► 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
November 5, 2020 Regular Board Meeting Agenda Packet- Page 20 of 150
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.
Page 2 of 2
November 5, 2020 Regular Board Meeting Agenda Packet- Page 21 of 150