Page 1

CITY OF PEARLAND State of Finances Snapshot FY2011-2012 For the Quarter Ending March 31, 2012

May 14, 2012


MAJOR FUND SUMMARIES   

GENERAL FUND WATER & SEWER FUND PEDC FUND

2


GENERAL FUND REVENUE SUMMARY REVENUES

Property Tax Sales & Use Tax Franchise Fees Licenses & Permits Fines & Forfeitures Charges for Services Miscellaneous Sub-Total Transfers In Other Financing Sources TOTAL REVENUE

FY 2012 BUDGET

$10,840,389 $13,631,831 $5,361,910 $1,791,529 $2,851,290 $11,292,491 $342,904 $46,112,344 $3,801,744 $1,240,165 $51,154,253

FY 2012 ACTUAL-TO-DATE

$10,225,016 $7,101,038 $2,497,901 $960,661 $1,562,468 $8,354,684 $280,323 $30,982,091 $1,690,861 $0 $32,672,952

FY 2012 % OF BUDGET

94.3% 52.1% 46.6% 53.6% 54.8% 74.0% 81.7% 67.2% 44.5% 0.0% 63.9%

FY 2011 ACTUAL-T0-DATE

$10,201,562 $6,643,018 $2,407,436 $762,908 $1,380,005 $7,668,456 $231,269 $29,294,654 $1,518,567 $417,921 $31,231,142

 Excluding Transfers In and Other Financing Sources, revenues are 67.2% of budget. Exceeds 50%, or 6 months of

activity.  Property Taxes – Actual collections through March for General Fund current property tax – 94.7% vs. 94.2% last year. Budget based on a 98% collection rate.  Sales Tax Collection (Actual) – 52.8% of General Fund budget (mix drink tax not included). Oct. – March totals $7,128,669 which is 6.5% greater than the year-to-date budget of $6,695,352 and $597,607 or 9.2% greater than the actual receipts from last year.  License & Permits – Licenses & Permits total $960,661 and are 53.6% of budget. This is an increase of $197,753 from March 2011. Building Permits reflects greater residential permits compared to last year –406 SF permits issued through March 2012 compared to 312 issued through March 2011, and 43 commercial permits vs. 9 last year. Fines & Forfeitures – Greater than last year by $182,463. Number of charges increased by 1,859 and warrants cleared increased by 125. Guilty pleas increased 14%, charges dropped by 8%.  Charges for Services – Collection at 74.0% attributable to TIRZ Administration Fees. Ambulance fees up $158K.  Miscellaneous – At 81.7% of budget. $49,054 greater than March 2011 due to sale of easements and recycle revenue.

3


GENERAL FUND EXPENDITURE SUMMARY EXPENDITURES

General Government Public Safety Community Services Public Works Parks & Recreation Total Operating Expenditures Transfers Out TOTAL EXPENDITURES

FY 2012 BUDGET

$7,499,270 $26,236,435 $4,049,829 $6,066,481 $7,426,030 $51,278,045 $1,058,162 $52,336,207

FY 2012 ACTUAL-TO-DATE

$3,748,453 $12,469,521 $2,049,716 $2,126,207 $3,033,679 $23,427,576 $529,082 $23,956,658

FY 2012 % OF BUDGET

50.0% 47.5% 50.6% 35.0% 40.9% 45.7% 50.0% 45.8%

FY 2011 ACTUAL-TO-DATE

$4,129,716 $11,469,314 $1,552,091 $2,975,565 $3,297,259 $23,423,945 $372,234 $23,796,179

 Expenditures of $24.0M are 45.8% of budget and include some items budgeted last fiscal year that were in process at year-end and paid this fiscal year. Total expenditure carryovers are $790,748 approved by Council in January. General Government – 50.0% of budget. Lower than last year. CBL Paid off. Public Safety – Higher than last year due to full year operation of Fire Station #5, fewer police officer vacancies and the purchase of 12 police cars. Purchase of fire truck remains outstanding.  Community Service– Higher than last year due to department restructuring of divisions that includes Engineering and IVR for Permits.  Public Works – Decreased from last year due department restructuring of divisions that includes Engineering.  Parks & Recreation – Decreased by $263,580 due to reduced expenses for HHW, salary savings due to vacancies and elimination of Bailey Rd. after-school program.

4


GENERAL FUND REVENUE PROJECTION “PRELIMINARY” Budget

Projection

Variance

FY2012

$51,154,253

$52,734,630

$1,580,377

Sales Tax

$13,491,831

$14,169,395

$677,564

Licenses and Permits

$1,791,529

$2,615,263

$823,734

Fines & Forfietures

$2,851,290

$2,999,214

$147,924

$11,292,491

$11,528,281

$235,790

$5,361,910

$5,628,807

$266,897

Charges for Services Franchise Fees

Budgeted to end year at $13.3 million; $5.0 million over policy. Amounts over policy can only be used for non-recurring expenditures, such as Capital purchases and improvements.

5


WATER SEWER FUND REVENUE SUMMARY REVENUES

Sale of Water Sewer Revenues Other Service Charges Interest Income Intergovernmental Other Misc. Income Transfers In Bond / Lease Proceeds TOTAL REVENUE

FY 2012 BUDGET

FY 2012 ACTUAL-TO-DATE

FY 2012 % OF BUDGET

FY 2011 ACTUAL-T0-DATE

$14,448,224 $10,496,337 $1,350,294 $23,577 $348,000 $212,574 $2,606,773

$6,981,880 $5,559,782 $619,401 $5,196

48.3% 53.0% 45.9% 22.0%

$6,021,845 $5,119,378 $633,453 $17,577

$91,424 $1,303,387

43.0% 50.0%

$29,485,779

$14,561,070

49.4%

$118,675 $1,236,107 $152,800 $13,299,835

 Total revenues are 49.4% of budget, and Water/Sewer charges make up 86.1% of total revenues received and are 50.3% of budget.  Through March 2012 there were 1.731 billion gallons billed, compared to 1.371 billion gallons billed through March 2011. There were 13.2 inches more rainfall this year than last year for Oct-March.; however little rainfall in September 2011 which reflects October 2011 billing of over 438 million or 25% of the gallons billed YTD, and reflects 47% of the variance.  Carryover included $348K for LS Switch grant.

6


WATER CONSUMPTION TOTAL YTD CONSUMPTION (In Billions of Gallons) FY2011 vs. FY2012

YTD CONSUMPTION BY USE (In Millions of Gallons) FY2011 vs. FY2012 Residential

Commercial

Sprinkler

Builders

Other

1.731 Other, 131 Builders, 16

1.371 Other, 108 Builders, 14 Sprinkler, 146 Commercial, 134

Sprinkler, 225 Commercial, 159

Residential, 1,200 Residential, 969

FY2011

FY2012

FY2011

FY2012

7


RAINFALL COMPARISON (In Inches of Rainfall) FY2011 vs. FY2012 FY2010

FY2011

FY2012

6.24

6.32

5.33 5.18

5.11 4.47

4.30

4.43

4.22 3.10

0.90 0.48

0.59

0.09

Sept

October

November

December

January

February

March

2011 YTD – 15.7 inches 2012 YTD – 28.9 inches 8


WATER SEWER FUND EXPENDITURE SUMMARY EXPENDITURES

Lift Stations Wastewater Treatment Water Production Distribution & Collection Construction GIS W&S Revenue Collections Sub Total Other Requirements Transfers TOTAL EXPENSES

FY 2012 BUDGET

$1,083,954 $3,477,142 $6,493,250 $1,734,873 $922,901 $255,393 $2,091,815 $16,059,328 $10,124,092 $6,795,538 $32,978,958

FY 2012 ACTUAL-TO-DATE

FY 2012 % OF BUDGET

$327,681 $1,424,697 $2,577,849 $820,865 $411,023 $129,454 $1,025,889 $6,717,458 $3,527,685 $3,476,638 $13,721,780

30.2% 41.0% 39.7% 47.3% 44.5% 50.7% 49.0% 41.8% 34.8% 51.2% 41.6%

FY 2011 ACTUAL-TO-DATE

$534,993 $1,507,602 $1,888,686 $867,946 $419,206 $69,005 $1,118,309 $6,405,747 $3,792,924 $2,335,528 $12,534,199

Personnel Costs: $2,308,293 (17%), Operations: $4,409,165 (32%), are 49% of Budget. Including Other Requirements and Transfers, expenses are 41.6% of budget. Lift Stations – Carryover from FY11 includes $348K for LS switches in January. Water Production – Surface water increase of $689K over last year. More water from FM 521 due to Kirby well repairs. Carryover of $310,000 for GCWA in January for increases in reserves not requested to date. Budget includes water from Alice Street. Other Requirements – March 1 Bond Payments made. $6.0 Million due September 1. 9


P.E.D.C. FUND REVENUE SUMMARY REVENUES

Sales Tax Interest Miscellaneous Sub Total Interfund Transfer TOTAL REVENUE

FY 2012 BUDGET

FY 2012 ACTUAL-TO-DATE

FY 2012 % OF BUDGET

$6,745,634 $24,150 $424,000 $7,193,784

$3,534,815 $15,650 $248,069 $3,798,534

52.4% 64.8% 58.5% 52.8%

$7,193,784

$3,798,534

52.8%

FY 2011 ACTUAL-T0-DATE

$3,305,212 $6,672 $245,504 $3,557,388 $197,330 $3,754,718

Sales Tax Collection (Actual) – 52.8% of PEDC Fund budget. Oct. – March totals $3,564,334 which is 6.5% greater than the year-to-date budget of $3,347,531 and $298,803 or 9.2% greater than the actual receipts from last year. Miscellaneous: Additional revenues of $41,069 have been received from water/sewer pro rata fees. There is $414,000 budgeted for rent for the CSI facility, and a total of $207,000 has been received through March. Interest income at $15,650 is 64.8% of budget. Reserve for Debt Pay-off Bond setting aside 20% of sales tax up to $5.0 Million for future pay-off of debt. YTD is $706,963.

10


P.E.D.C. FUND EXPENDITURE SUMMARY EXPENDITURES

Operating Capital Transfers Bond Payment Business Incentives TOTAL EXPENDITURES

FY 2012 BUDGET

$1,422,918 $15,000 $178,857 $2,040,906 $3,358,500 $7,016,181

FY 2012 ACTUAL-TO-DATE

$566,649 $0 $90,290 $597,248 $236,813 $1,491,000

FY 2012 % OF BUDGET

39.8% 0.0% 50.5% 29.3% 7.1% 21.25%

FY 2011 ACTUAL-T0-DATE

$660,438 $48,907 $75,459 $613,373 $700,005 $2,098,182

Operating – Includes personnel costs, as well as expenditures associated with marketing and promotional programs. Transfers – Includes $51,606 to the City for support services and $38,684 to U of H fund. Bond payment – Bond payment of $596,748 in February; remaining due September 1. Business Incentives – Includes Sales Tax incentives of $34,076, New Industry incentives of $182,488 and OTS New Industry incentives of $20,250.

11


P.E.D.C. INCENTIVES Budgeted Amount for Business Incentives - $3,266,500 Current Incentives CSI SCR HH GP Freese & Nichols Altus Harbor Brask/Neela, Inc. OTS Turbocare Speed Shore

Committed $6.4M $300K $90K $87.5K $150K $124K $105K $80K

Prior $4.1M $180K $0 $50K $0 $0 $0 $0

FY 2012 $0 $0 $0 $15K $0 $20K $101K $66K

Balance $2.3M $120K $90K $22.5K $150K $104K Complete Complete

*Exclude Sales Tax

12


ECONOMIC INDICATORS  

 

PROPERTY TAX COLLECTION SALES TAX COLLECTION  MONTH-TO-MONTH  QUARTER-TO-DATE BUILDING PERMITS  SINGLE FAMILY  COMMERICAL  PERMIT REVENUE HOT TAXES  BY QUARTER  BY YEAR UNEMPLOYMENT RATE FORECLOSURE FILINGS 13


PROPERTY TAX COLLECTIONS (Year-to-Date) Percent Collected-Cumulative

Amount Collected-Cumulative $45

100.0% $43.5

94.2%

94.7%

$43.5

$30

$15

(percent)

(in millions)

$41.2

$21.1

$0

55.7%

50.0%

48.5%

0.0%

1st Qtr Collections

2nd Qtr Levy

1st Qtr FY2011

2nd Qtr FY2012

*Percent collected based on 100% of Levy. Budgeted at 98.0%

14


SALES TAX Sales Tax Actual-To-Actual and Percent Change $3.0

0.25

20.2%

0.2

$2.0 0.15 $1.5

10.9%

$0.5

0.1

6.6%

$1.0

8.2%

7.3%

(percent change)

(in millions)

$2.5

0.05

4.8%

$0.0

0

Oct

Nov

Dec FY2011 Actual

Jan FY2012 Actual

Feb

March

Percent Change

Sales Tax Budget-To-Actual and Percent Change 0.2

$3.0

17.2%

0.18 0.16 0.14

$2.0

0.12 $1.5

0.1

8.2%

0.08 $1.0

5.6%

3.9%

0.06

4.6% $0.5 $0.0

0.02

2.2% Oct

0.04 0

Nov

Dec

FY2012 Budget

Jan FY2012 Actual

Feb

March

Percent Change

*March reflects actual numbers received in May.

15

(percent change)

(in millions)

$2.5


SALES TAX YTD COLLECTIONS $12.0 $10.69 $10.0

$9.52

$9.80

$10.04

(in millions)

$8.0

$6.0

$4.0

$2.0

$0.0 FY2010 Actual

FY2011 Actual

FY2012 Budget

FY2012 Actual*

*March reflects actual numbers received in May.

16


SALES TAX COMPARISONS CITY (tax rate)

NET PAYMENT FOR MAR.*

PRIOR YEAR FOR MAR.*

% CHANGE

2012 PAYMENT TO DATE**

2011 PAYMENT TO DATE**

% CHANGE

PEARLAND (1.5)

$2,006,108.62

$1,870,525.99

7.25%

$9,204,149.27

$8,375,418.97

9.89%

PLANO (1.0)

$6,462,037.27

$6,603,413.24

-2.14%

$29,487,870.88

$27,964,467.09

5.45%

PASADENA (1.5)

$2,474,384.34

$2,487,978.73

-0.55%

$10,836,258.20

$10,211,475.90

6.12%

SUGAR LAND (2.0)

$3,766,673.36

$3,640,920.33

3.45%

$18,702,176.64

$17,176,301.39

8.88%

ROUND ROCK (2.0)

$5,844,796.63

$5,563,818.18

5.05%

$27,400,420.80

$27,090,796.40

1.14%

COLLEGE STATION (1.5)

$1,809,810.09

$1,682,780.92

7.55%

$8,649,201.43

$8,037,620.84

7.61%

MCKINNEY (2.0)

$3,338,001.86

$3,198,995.33

4.35%

$14,084,192.72

$13,808,116.11

2.00%

FRISCO (2.0)

$4,590,910.16

$4,247,201.69

8.09%

$20,635,673.34

$18,380,727.31

12.27%

LEAGUE CITY (1.75)

$1,288,431.86

$1,333,575.21

-3.39%

$6,234,103.08

$5,359,870.11

16.31%

BAYTOWN (1.25)

$1,307,222.06

$1,220,276.95

7.13%

$5,656,092.70

$5,116,828.96

10.54%

THE WOODLANDS (1.0)***

$3,477,633.78

$3,154,356.70

10.25%

$19,573,224.83

$16,930,372.48

15.61%

*March received in May **Calendar year (Jan. – March) ***The Woodlands is a special purpose district.

17


# of Single Fmly Prmts

SINGLE FAMILY PERMITS 250

230

200

188

176

169

150

184

143

100 50 0

1st Quarter

2nd Quarter FY 11 Actual

3rd Quarter FY 12 Actual

4th Quarter

100 90 80 70 60 50 40 30 20 10 0

$35.0 $30.0 $25.0 $20.0

$16.46

$17.57

$16.00

$9.47

$15.0

$14.23

$10.0

$8.77

$5.0

(valuation in millions)

# of Single Fmly Prmts

Single Family Permit and Valuation

$0.0 Oct

Nov

Dec

Jan

FY 11 Actual

Feb

Mar

Apr

FY 12 Actual

May

June

July

Aug

Sept

FY 12 Valuation

18


# of Single Family Permits

SINGLE FAMILY PERMITS

$450 $400 $350 $300 $250 $200 $150 $100 $50 $0

406

389 312

Value $74.0M

FY 10 Actual

Value $60.7M

FY 11 Actual

Value $82.5M

FY 12 Actual

19


# of Single Family Permits

SINGLE FAMILY PERMITS: APRIL YTD 517

$600 $500

440

$400 $300 $200

Value $84.1M

372

Value $104.6M

Value $72.6M

$100 $0

FY 10 Actual

FY 11 Actual

FY 12 Actual

120

APRIL FY12 111 PERMITS

100

$30.0 $25.0

80 60

$35.0

$16.46

$17.57

$20.0

$16.00

$9.47

40

$22.08

$15.0

$14.23

$10.0

$8.77 20

$5.0

0

(valuation in millions)

# of Single Fmly Prmts

Single Family Permit and Valuation

$0.0 Oct

Nov

Dec

Jan

FY 11 Actual

Feb

Mar

Apr

FY 12 Actual

May

June

July

Aug

Sept

FY 12 Valuation

20


# of Commercial Prmts

COMMERCIAL PERMITS 25

22

20

21

15 10 5

5

4

0

1st Quarter

8

7

2nd Quarter FY 11 Actual

3rd Quarter FY 12 Actual

4th Quarter

12

$20.0

$18.96

$15.0

8 $10.0

$6.90

4

$0.98

$5.0

$2.34 $1.71

$0.09

0 Oct

Nov

Dec

Jan

FY 11 Actual

Feb

Mar

Apr

FY 12 Actual

(valuation in millions)

# of Commercial Permits

Commercial Permit and Valuation

$0.0 May

June

July

Aug

Sept

FY 12 Valuation

21


COMMERCIAL PERMITS Grand Total Comparison Thru 2nd Quarter

Number of Commercial Permits

50

45

43

45 40 35 30 25 20 15

Value $23.9M

Value $13.5M

Value $31.0M

9

10 5 0

FY10 Actual

FY11 Actual

FY12 Actual

*Valuation

and number exclude exempt properties, multi-family dwellings, apartment garages and apartment houses. Permit value of the Villa’s at SCR only include maintenance and office/clubhouse facilities.

22


# of Commercial Permits

COMMERCIAL PERMITS: APRIL YTD 53

$60 $50

47

$40 $30 $20

Value $25.4M

Value $17.0M

Value $34.9M

11

$10 $0

FY 10 Actual

FY 11 Actual

FY 12 Actual

12

$20.0

$18.96

APRIL FY12 10 PERMITS

8

$15.0

$10.0

$6.90

4

$0.98

$1.71

$0.09

0 Oct

Nov

Dec

$5.0

$3.91

$2.34

Jan

FY 11 Actual

Feb

Mar

Apr

FY 12 Actual

(valuation in millions)

# of Commercial Permits

Commercial Permit and Valuation

$0.0 May

June

July

Aug

Sept

FY 12 Valuation

23


TOTAL BUILDING PERMIT AND BUILDING PLAN FEE REVENUE Year-To-Date Actual $1,024,905

$740,230 $629,835 $468,722 $304,639 $206,958

1st Qtr

2nd Qtr FY 2011

3rd Qtr

4th Qtr

FY 2012

24


HOT TAXES Quarterly Occupancy Tax* $250,000

$200,000

$192,522

$187,048 $171,816

$163,823 $150,000

$142,661

$150,586

$100,000

$50,000

$0 1st Qtr

2nd Qtr FY2011 Actual

3rd Qtr

4th Qtr

FY2012 Actual

*Reflects amount received each quarter.

25


HOT TAXES Year-to-Date Occupancy Tax*

$700,000

$652,111 $600,000

$500,000

$480,295

$400,000

$356,345 $293,247

$300,000

$200,000

$163,823 $142,661

$100,000

$0 1st Qtr

2nd Qtr FY2011 Actual

3rd Qtr

4th Qtr

FY2012 Actual

*Reflects cumulative total thru 4th quarter.

26


UNEMPLOYMENT RATE Fiscal Year 2012 Average Rate By Quarter (Pearland/State/National) FY 2011 Pearland

FY 2012 Pearland

FY 2012 State

FY 2012 National

10.0 9.0

8.7 8.3

8.0

7.6 7.0 6.0

7.1

6.3

6.8

6.1

5.9

6.5

6.6

5.0 4.0 3.0 2.0 1.0 0.0 1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Source: Labor Market & Career Information, Texas Workforce Commission and Federal Bureau of Labor Statistics Texas Statewide unemployment statistics reflects model re-estimations and new seasonal adjustments for last year and for the first quarter of the current year . The second quarter for Texas Statewide unemployment is TWC’s preliminary estimate due to the availability 27 of March 2012 data.


FORECLOSURE FILINGS BY ZIP CODE Annual Foreclosures 2nd Quarter Year-to-Date Pearland 77584

Pearland 77581 454

413

359 162

150

246

132

72 292

263

174

FY2009

FY2010

227

FY2011

FY2012

Annual Foreclosure Filings by 1st and 2nd Quarter Pearland 77584

Pearland 77581

256 198

215

194

165

87 73 125 1Q -2010 Source: RealtyTrac

198

169 1Q -2011

67

77

127

138

1Q -2012

2Q -2010

75 123 2Q -2011

65 100 2Q -2012

*Includes ETJ

Note: Multiple filings can occur on one property within a given timeframe and can include: Default notices, auction notices, notice of trustee sale or bank seizure.

28


FORECLOSURE FILINGS CITY COMPARISONS CITY

JANUARY FILINGS

FEBRUARY FILINGS

MARCH FILINGS

TOTAL FILINGS FOR 2nd QRTR.

PEARLAND

53

60

52

165

MISSOURI CITY

85

86

64

235

PASADENA

49

75

46

170

SUGAR LAND

56

66

31

153

BAYTOWN

46

57

65

168

CONROE

71

69

61

201

ROUND ROCK

69

90

41

200

MCKINNEY

92

80

65

237

FRISCO

50

53

40

143

ALLEN

20

60

32

112

ROWLETT

42

25

35

102

Note: Multiple filings can occur on one property within a given timeframe and can include: Default notices, auction notices, notice of trustee sale or bank seizure. Based on mailing address/zip codes, not City limits proper.

29


SUMMARY/STATUS OF GRANTS 

CDBG/CDBG-R  Program Year 2012 Allocation Notice for $284,818 will be awarded to the City pending submission of Annual Action Plan and 5 – Year Consolidated Plan, which are currently underway. Up $7,716 from FY2011 allocation of $277,102.  Program Year 2010 CAPER submitted to HUD and accepted via Annual Community Assessment Letter.  Sidewalk projects on South Houston, Walnut and the remaining portion of Hawk Road awarded on March 23, 2012. Texas Department of Rural Affairs (formerly ORCA) CDBG Funds – Lift Stations $348,000  Funds unreleased to-date pending completion of engineering/design by CobbFenley, according to the program’s intermediary consultant Grantworks.  The legislature has made an official change to the administering agency and the General Land Office will officiate these federal grant funds on behalf of the State. Stricter adherence to eligibility requirements involving Low-Moderate Income demographics may affect additional funding requests submitted beyond 2009 Round 1 application. Victim Assistance Grants  Continuation application for Criminal Justice Division funding for Crime Victim Liaison has been submitted for continuation in the amount of $59,346.  Crime Victim Specialist hired and placed with $41,999 grant from Office of the Attorney General and program activities are underway.

30


SUMMARY/STATUS OF GRANTS, Continued

Criminal Justice Division  Pearland Police Department has requested $107,000 for the purchase of a towable, trailer-style Mobile Command Unit to be deployed as an Incident Command platform from which to coordinate emergency response to natural disasters, critical incidents such as SWAT stand-offs and ground searches, as well as community events and city-sponsored festivals or mass gatherings. Texas Parks and Wildlife  In addition to the $100,000 received and expended for Phase I of Trail Connectivity (Hike and Bike), Parks and Recreation Department and Finance have requested an additional $200,000 for continuation of the trail as Phase II – Centennial Park to Independence Park. Department of Justice – COPS Hiring Recovery Program  Formula grant request for 2 sworn officer positions at a total of $401,392 over three years with a $151,392 match required was submitted in March. Officers hired through this program are required to have post “9/11” Gulf War military veterans’ status and must be competitively hired in conjunction with any other applicants within the hiring pool soliciting these officers. Grants Summary  FY12 Grants Applied For  Grants Awarded  Active Grants

Number 6 0 16

Amount $682,344 $0 $3,106,501

31


INVESTMENTS – 2nd QTR. 

BOOK VALUE  At December 31th 2011 - $95,148,547  At March 31, 2012 - $95,233,471  PORTFOLIO  $65,034,392 or 68% in Cash  $3,477,000 or 4% in CD’s  $26,722,080 or 28% in FHLB/FHLMC/FFCB/FNMA

WEIGHTED AVERAGE MATURITY  83 Days  Longest Maturity – 758 days

YIELD TO MATURITY AT COST (average for Quarter)  0.18%  0.17% (T-Bill benchmark)  0.10% (Agency note benchmark)

INVESTMENT REPORT IN COUNCIL AGENDA 32


SUMMARY OF MAJOR CAPITAL PROJECTS яБо

Through 3/31/12 PROJECT

FUNDED BUDGET

City of Houston Connection1

$20,095,519

$18,406,637

Max Road Sports Complex

$2,624,277

Cowart Creek

ACTUAL-TODATE

ENCUMBRANCE

REMAINING

ANTICIPATED SAVINGS

$1,215,078

$473,804

$200,000

$260,532

$99,835

$2,263,910

$0

$12,626,450

$10,356,637

$98,024

$2,171,789

$0

Longwood WWTP

$4,333,105

$388,353

$75,535

$3,869,217

$1,000,000

Barry Rose WWTP

$3,753,760

$295,138

$3,386,533

$72,089

$0

Twin Creek Woods LS

$2,519,000

$196,767

$48,232

$2,274,001

$0

33


SUMMARY OF MAJOR CAPITAL PROJECTS яБо

Through 3/31/12 PROJECT

FUNDED BUDGET

ACTUALTO-DATE

ENCUMBRANCE

REMAINING

ANTICIPATED SAVINGS

Hatfield Sewer

$4,634,000

$239,338

$273,050

$4,121,612

$0

Old Alvin Waterline

$2,556,718

$147,442

$195,414

$2,213,862

$0

1Project

was bid on June 17, 2010. Savings of $6.0 million already taken.

34


Warrant Update Summary 2nd Quarter FY12      

Jail Credit 752 cases - $292,765 value Warrant Officer 443 cases - $40,554 collected Newspaper 20 cases - $9,020 collected ALPR 83 cases - $12,622 collected Total number of warrants cleared 3,384 Value of all warrants cleared by all means $1,177,594 (Not necessarily value of cash received)


Warrant Update Comparison 2nd Qtr FY11 to FY12 FY 11

FY 12

Warrants Issued

2,113

2,338

% of FTA

61%

39%

Warrants Cleared

3,284

3,384

Jail Credit

674 / $214,185

752 / $292,765

Warrant Officer

104

443

ALPR

132

83

Newspaper

46

20

Outstanding

14,072 / $4,495,613

14,655 / $4,760,657


Warrant Update Warrant Activity by Month FYTD 2011

January

February

March

FYTD 2012

14,179

15,560

15,114

14,395

14,655

4,231,852

5,061,086

4,946,644

4,707,109

4,760,657

Issued

4,381

848

375

1015

4,257

Cleared— (all means)

5,275

1,421

1,079

884

5,400

#

14,072

15,114

14,395

14,655

14,655

$

4,495,613

4,946,644

4,707,109

4,760,657

4,760,657

Beginning Bal # $

Outstanding

% Inc/Dec


OTHER NOTEWORTHY HIGHLIGHTS 2nd Quarter    

        

Filed FY2011 audit with Council on February 20th with clean opinion. FY2011 carryovers approved by City Council; amended the budget. Presented powerpoint for budget kickoff. FY2013 Budget and 2013-2017 Five Year CIP underway.  Incorporated Council Goal on O&M costs for CIP’s which identifies costs of services. Implemented new agenda format pursuant to City Council goal. Presentation to Council on compensation adjustments. Workshopped Priority Based Budgeting, though did not proceed. Replaced 892 out of 1,000 meters budgeted for replacement. IVR fully Implemented Completed on-line auction of confiscated jewelry. Net $72,940. Refunded $49,895,000 in outstanding bonds, saving $5.3 Million. HOT Tax analysis for Centennial Park complete. Horne LLP, Auditors for FEMA have started final audits.

38


State of Finances Snapshot FY2011-2012 For the Quarter Ending March 31, 2012

Questions?

39

2nd Quarter  

City of Pearland 2nd Quarter Fiscal Snapshot

Read more
Read more
Similar to
Popular now
Just for you