SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT
6/30/2018
QUARTERLY FINANCIAL REPORT A financial summary of the first six months of 2018
SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT
SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT FIRST QUARTER 2018
EXECUTIVE SUMMARY INTRODUCTION The following quarterly financial report provides an analysis of the first six months of the 2018 calendar year. The information contained in this report is based on unaudited budgetary financial statements and excludes adjustments that may be required by the County’s auditors at a later date. This report provides a summary of revenues and expenditures of the County for the first six months of the calendar year of 2018. Comparative analysis will also be provided for the major revenue and expenditure categories including comparisons to budgeted and prior year amounts for the same time period.
REVENUE HIGHLIGHTS This section will show revenues received by the County during the first six months of 2018. These revenues will be compared to the budgeted amount for the same time period and the amount received during the prior year for the same time period. Shawnee County received total revenue of $89,502,511 during the first six months of 2018. This represents 0.03% over the budgeted amount for this period.
$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 $-
Other Revenue
Other Taxes
2018 YTD $89,502,511
BUDGET YTD $89,468,158
2017 YTD $87,881,568
Property Taxes
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SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT
Ad Valorem Taxes Ad Valorem Tax is the largest single revenue source available to Kansas Counties. This revenue is derived from taxes levied on real property, personal property and state assessed property. The Shawnee County Appraiser’s office values real and personal property and the State of Kansas assigns values to state assessed property such as utilities. Ad Valorem Taxes represented approximately 77% of the County’s revenue in 2017.
$80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $-
2018 YTD $75,055,222
BUDGET YTD $75,448,007
2017 YTD $73,753,087
The largest portion of Ad Valorem taxes are received in January and June when real estate taxes are distributed to the taxing authorities.
Other Taxes Other taxes include the following: • • • • • • • •
$10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $-
2018 YTD $8,885,738
BUDGET YTD $8,838,719
2017 YTD $9,074,861
Motor Vehicle Tax RV Tax Special Assessments Local Alcohol Liquor Tax Highway Tax Franchise Tax 1620 Truck Tax Other Misc. Taxes
Other Revenue Other revenue includes the following: •
•
•
Property Related Fees such as Mortgage Registration Tax, Register of Deeds filing fees, Zoning Fees, Planning Fees Charges for Services including Parks and Recreation fees, Detention Facility Care of Prisoner fees, Sheriff process fees, County Officer Fees and other miscellaneous fees Miscellaneous other revenue
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-
2018 YTD $5,561,551
BUDGET YTD $5,181,432
2017 YTD $5,053,620
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SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT
EXPENDITURE HIGHLIGHTS Expenditures for the County total $48,446,278 which is approximately 0.71% under budget for the first six months of 2018. The year-to-date expenditures are also $591,044 or 1.24% more than the expenditures for this period last year.
DEBT SERVICE $50,000,000 $45,000,000
PARKS, REC & EXPO
$40,000,000 $35,000,000
PUBLIC WORKS
$30,000,000 $25,000,000 $20,000,000
ADMIN. SERVICES
$15,000,000 $10,000,000
PUBLIC HEALTH
$5,000,000 $0
2018 YTD $48,446,278
BUDGET YTD $49,195,274
2017 YTD $47,855,234
PUBLIC SAFETY
The following information shows Shawnee County expenditures by category. 2018 YTD $48,446,278
CATEGORY PUBLIC SAFETY PUBLIC HEALTH ADMIN. SERVICES PUBLIC WORKS PARKS, REC & EXPO DEBT SERVICE
BUDGET YTD $49,195,274
$
22,371,013 5,699,482 6,799,047 4,722,528 7,948,903 905,305
$
$
48,446,278 $
22,787,862 5,729,769 7,110,427 4,732,927 7,922,045 912,244
2017 YTD $47,855,234 $
49,195,274 $
21,750,503 6,029,769 6,326,283 4,172,429 8,352,516 1,223,734
YTD BUDGET VARIANCE
$
47,855,234 $
YTD VARIANCE TO PRIOR YTD
(416,849) $ (30,287) (311,380) (10,399) 26,858 (6,939) (748,996) $
620,510 (330,287) 472,764 550,099 (403,613) (318,429) 591,044
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SHAWNEE COUNTY QUARTERLY FINANCIAL REPORT
This pie chart displays the expenditure categories based on their percentage of total County Expenditures.
PUBLIC HEALTH 14%
ADMIN. SERVICES PUBLIC WORKS 9% 12% PARKS, REC & EXPO 17%
PUBLIC SAFETY 45%
DEBT SERVICE 3%
GENERAL FUND BALANCE The General Fund is the primary operating fund of the County. It accounts for the financial resources of the general government, except those required to be accounted for separately. The General Fund is also used to account for payments made for principal and interest on general long-term debt of the County. The General Fund Balance represents the unencumbered balance of general operating funds on a budgetary basis. Bond rating services generally recommend a general fund balance of 20% of budgeted expenditures to present a healthy level of reserves. It is the goal of the Board of County Commissioners to steadily increase this balance to above the recommended minimal level. This chart shows the actual general fund balance at the end of years 2003-2017 and the estimated balance at the end of 2018. The target minimum is shown at 20% of budgeted expenditures.
General Fund Reserves
General Fund Reserves
Target Minimum
Est. 2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 -
Target Goal
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