august finance report · gan closing for cox pike & cumberland resurfacing project on 1/8....

January 2015 Finance Report

Tom Daugherty, Finance Director

February 12, 2015

______________________________________________________________________________

Procedures/Processes: ◦ Daily close procedures and bank deposits. ◦ Weekly accounts payable. ◦ ACH receivables, payables, and wire transactions. ◦ Bi-weekly Payroll, 941 tax deposits, and deferred comp. ◦ TCRS retirement. ◦ Bank reconciliation. ◦ Human Resource and Payroll responsibilities. ◦ Aid in Fire Chief interview facilitation. Meetings/Events: ◦ GAN Closing for Cox Pike & Cumberland Resurfacing Project on 1/8. ◦ Finance Review Committee on 1/8. ◦ Board of Commissioners meeting on 1/15 . ◦ Staff meeting on 1/15. ◦ Park fee meeting with Parks Program Director on 1/15. ◦ Chamber Annual Breakfast with Marsh Blackburn, Jack Johnson, and Jeremy Durham on 1/23. ◦ FHS Football Press Box Committee meeting on 1/27. ◦ FMS Auditorium Ribbon Cutting Ceremony on 1/28. ◦ Budget meeting with Donna Brooks and the City Manager on 1/28. ◦ Budget meeting with City Manager, Parks Director, and Parks Superintendent on 1/29. ◦ Meeting with City Manager and Police Chief on 1/29. ◦ Meeting with new Fire Chief on 1/29. ◦ Meeting with Dickson Water Authority on 1/30. Education/Workshops: ◦ Received approval of CMFO certification from TN Comptroller of the Treasury on 1/8. Courses completed include Government Environment, Municipal Budgeting, Internal Control and Auditing, Governmental Accounting I, Governmental Accounting II, Financial Reporting I, Financial Reporting II, Cash Management, Debt Management, Payroll, Benefits, and Pensions, Purchasing, Risk Management, Enterprise Resource Planning Systems. ◦ Completed Fred Dyer Workshop on Managing Multiple Priorities, Projects, and Deadlines on 1/13. ◦ Completed CTAS Incident Command Course on 1/27.



February 12, 2015

______________________________________________________________________________

Revenues: January Revenues came in ($4,862) under projections at $545,128. Major line item discrepancies are examined. ◦ Local Option Sales Tax from the County Trustee came in ($33,089) under projections. State Shared Local Sales Tax came in ($12,055) under projections. The sixty day delay used for projections should have been a 90 delay. The local sales tax numbers should come more in line with projections in February and March. The line items are lagging, however, and will continue to be monitored closely. ◦ Minimum Business Tax came in ($6,764) under projections. After consulting the State Comptroller’s Office, MTAS, and others, it is likely that our projections will be inaccurate the remainder of the fiscal year…however, we can expect significant increases in this line item for the second half of the year. ◦ City Court Fines & Fees came in ($9,164) under projections. I met with Dianne Ford, our Court Clerk, and concluded that the discrepancy is most likely due to decreased traffic tickets issued. In addition, approximately $11,000 was billed late and should be recognized in February. Expenditures: January expenditures came in ($76,355) under projections at $474,834. There are no major line item discrepancies to be examined. Year to date: Revenue projections from July 1st to January 31st are $3,219,357. Revenue received has been $3,086,212 for a shortfall of ($133,145). Expenditure projections are $3,356,131 and the City has spent $3,234,246. The YTD spending is under projections in the amount of ($121,885). Combining YTD Revenues and Expenditures, the City is ($11,260) behind projections.



February 12, 2015

______________________________________________________________________________

Financial Summary: Cash flow difficulties eased minimally during January. Sales tax revenue continues to lag behind our projections. A sixty day formula was used in determining projections where in reality, a ninety day formula should have been used. So, in essence, our projections are a month ahead of what they should be. This error keeps the door open for the opportunity to close the gap on local option sales tax projections. The results of Black Friday and Thanksgiving weekend shopping should be revealed in February’s numbers. March should reveal the majority of the holiday shopping season. Property Tax revenue came in at $134,794 in January and YTD total is $718,322 which represents 67% of projections. $315,000 is expected in February which will put us at $1,033,322 or 95% of projections. Business Tax revenue is expected to get a significant boost in the future, hopefully in the $50,000 range. Revenues should be clear by end of March with the exception of Building Permits which is expected to significantly increase through the spring and summer. Focus will remain on maintaining expenditures at or below projections and initializing the first steps of the Stabilization Plan. Respectfully Submitted,

Thomas J. Daugherty

JANUARY FINAL

MONTHLY BUDGET YEAR ENDED JUNE 30, 2015

JANUARY JANUARY YTD YTD ACCT DESCRIPTION PROJECTED ACTUAL VAR PROJECTED ACTUAL VAR

UNASSIGNED REVENUES

31100 Property Taxes 103,000 134,794 31,794 694,705 718,322 23,617

31200 Delinqunet Property Taxes - 303 303 15,000 8,251 (6,749)

31300 Penalties - Prop Taxes - 261 261 4,050 4,111 61

31520 Payments from Industry - 2,400 2,400 - 3,400 3,400

31610 County Sales Taxes 130,000 96,911 (33,089) 740,000 682,729 (57,271)

31620 Local Sales Taxes 56,000 43,945 (12,055) 355,000 306,500 (48,500)

31710 Wholesale Beer Taxes 16,667 17,733 1,066 116,668 129,460 12,793

31720 Wholesale Liquor Taxes 5,000 9,483 4,483 35,000 40,770 5,770

31810 Business Taxes 7,083 319 (6,764) 49,582 6,288 (43,295)

31831 Interest - Bus. Taxes - - - - - -

31832 Interest Gross Receipts - - - - - -

31841 Penalties - Bus. Taxes - - - - - -

31850 Process Fee - Bus. Taxes 92 105 13 643 615 (28)

31911 Gas Franchise Tax 45,000 58,736 13,736 45,000 58,736 13,736

31912 Cable TV Franchise Tax 25,000 18,352 (6,648) 75,000 65,881 (9,119)

31920 Room Occupancy Tax 567 528 (39) 3,968 4,612 644

32130 Contractor's License Fee 83 100 17 582 600 18

32210 Beer License / Permits 375 1,300 925 2,625 1,940 (685)

32220 Liquor License Fees 83 500 417 582 2,350 1,768

32610 Building Permits 2,917 6,267 3,350 20,418 27,463 7,045

32620 Electrical Permits 167 110 (57) 1,168 1,080 (88)

32630 Plumbing & Mechanical Permits 250 564 314 1,750 2,799 1,049

32640 Rezoning, Subdividing & Other Fees 1,250 500 (750) 8,750 1,822 (6,928)

32650 Process Fee - Privilege Tax 8 50 42 57 270 213

32660 Fees Appeal Boards 29 - (29) 204 - (204)

32690 Other Permits 167 300 133 1,168 1,190 22

32710 Sign Permits 229 21 (208) 1,604 902 (701)

32730 Engineer Charges & Fees 250 3,575 3,325 1,750 3,575 1,825

32750 Miscellaneous - Codes 21 - (21) 146 - (146)

33320 TVA Payments - in Lieu of Taxes 22,500 22,369 (131) 45,000 44,738 (262)

33420 State Law Enforcement - - - - - -

33421 Education Incentive Pay - Fire - - - - - -

33460 State Forestry Grant - - - - - -

33490 Recruitment & Retention Grant - Fire 11,250 10,603 (647) 78,750 78,715 (35)

33492 State Grant #2 Vests - P.D. - - - - 1,043 1,043

33494 TML Safety Grant - - - 1,500 - (1,500)

33496 TEMA Grant - Reimbursement - - - - - -

33497 GHSO Grant 3,750 - (3,750) 26,250 26,150 (100)

33510 State Sales Taxes 48,583 46,383 (2,200) 340,082 332,011 (8,071)

33520 State Income Tax - - - 22,000 27,057 5,057

33530 State Beer Tax - - - 2,250 1,983 (267)

33545 Mixed Drink Tax - City 833 613 (221) 5,832 5,561 (271)

33553 State Gas Inspection Fee 1,333 1,313 (20) 9,332 9,193 (139)

33593 Telecommunications Taxes 63 62 (1) 439 459 20

33594 Corporate Excise Tax - - - - - -

33710 Grant Wm Co Fire Dept - - - 7,200 7,200 -

34110 Miscellaneous Revenue 333 161 (172) 2,332 4,190 1,858

34220 Alarm Permit Fees 42 110 68 293 330 37

34230 Fees Driving School 833 720 (113) 5,832 5,670 (162)

34240 Accident Report Charges - - - - - -

34314 Mowing 1,500 - (1,500) 10,500 5,857 (4,643)

34741 Picnic Shelter Fees - - - 1,000 620 (380)

34743 Arts and Crafts Fees - - - 100 - (100)

JANUARY FINAL



34750 May Fest Donations and Charges - - - - - -

34751 July 4th Donations - - - - 600 600

34752 October Fest Donations - - - - - -

34791 Rec Special Program Fees - - - 2,500 1,963 (537)

34792 Nature Center Use - - - 150 - (150)

34799 Park Trail Fees - - - 750 - (750)

35110 City Court Fines & Costs 16,667 7,503 (9,164) 116,668 70,759 (45,909)

35130 Court Costs User Fee 2,500 1,052 (1,448) 17,500 13,115 (4,386)

35140 Drug Related Fines 1,500 853 (647) 10,500 6,325 (4,175)

35160 Court Fines from County 133 146 13 932 629 (303)

36100 Interest 65 43 (22) 453 308 (146)

36110 Interest School Facilities Taxes 4 - (4) 29 - (29)

36340 City Auction Sales - - - - 3,796 3,796

36710 Donations to the Police Dept - - - - 2,996 2,996

36730 Donation to the Park Dept - - - - 500 500

36739 Employee Vol Ins. Contributions 1,545 1,286 (259) 9,270 10,092 821

36750 Employee Ins. Contributions 7,727 11,730 4,003 46,362 55,560 9,197

36962 Trans. From Facilities Taxes - - - - - -

36990 Insurance Reimbursements - - - 2,500 3,500 1,000

39123 Transfer from Park Reserves - - - 35,000 35,000 -

39124 Transfer from Street Aid Reserves - - - - - -

Transfer from Drug Fund - - - - - -

Transfer from Other Funds - - - - - -

TOTAL UNASSIGNED REVENUE 515,399.00 502,102.33 (13,296.67) 2,976,727.06 2,829,582.81 (147,144.25)

JANUARY FINAL



UNASSIGNED EXPENDITURES

ACV'S - 546 546 - 1,209 1,209

110 Salaries 185,101 180,730 (4,371) 1,388,261 1,349,848 (38,413)

111 Part-time Salaries (Safer Grant) 8,075 8,125 50 60,563 60,938 376

112 Salaries - Overtime Pay 7,977 7,443 (534) 59,827 42,520 (17,307)

113 Part-time Salaries 8,294 9,651 1,357 62,202 77,135 14,934

119 Incentive Pay 2,692 3,320 627 20,192 25,231 5,039

121 Wages - School Patrol 754 616 (138) 5,654 5,488 (166)

124 Wages - Part-time - Regular 231 164 (66) 1,731 1,521 (210)

132 In Service Pay 1,754 - (1,754) 13,154 - (13,154)

141 OASI Employer's Share 13,657 12,637 (1,021) 102,429 96,428 (6,002)

142 Medicare Employer's Share 3,208 2,955 (253) 24,061 22,552 (1,509)

143 Retirement - Current 12,169 13,529 1,360 91,268 96,310 5,042

147 Unemployment Insurance - 2,541 2,541 2,044 3,185 1,141

161 Board and Committee Members 2,250 2,250 - 15,750 15,750 -

162 Reimbursements - Board Members - - - - - -

166 Incentive Pay Planning Commission 1,100 1,100 - 7,700 7,100 (600)

172 Election Officials, Clerks, Etc. - - - - - -

190 Personal Services / Animal Control - - - - - -

200 Contractual Services - - - 37,940 560 (37,380)

230 Memberships, Subs, Dues 500 70 (430) 3,500 5,592 2,092

231 Publication of Formal and Legal Notice 500 258 (242) 3,500 3,491 (9)

235 Registration Fees, Tuition 450 400 (50) 3,350 3,984 634

236 Public Relation 417 2,789 2,372 2,917 9,812 6,896

237 Public Relations / Web Site 569 544 (25) 3,983 4,352 369

240 Utility Services 8,000 7,493 (507) 47,000 37,102 (9,898)

245 Telephone and Telegraph 6,917 7,244 327 48,417 49,796 1,380

250 Professional Services 2,917 2,472 (444) 20,417 29,817 9,401

251 Medical Services - - - 750 - (750)

254 Engineering, and Landscaping Services 2,917 5,325 2,408 20,419 23,576 3,157

255 Data Processing Services - - - 17,870 22,538 4,668

259 Architect and Other Professional Services - - - - - -

261 Repair and Maint. Motor Vehicles 3,167 1,141 (2,025) 22,167 19,793 (2,374)

262 Repair and Maint. Machinery & Equip 1,458 4 (1,454) 10,208 11,558 1,350

263 Repairs and Maint Office Machinery - 450 450 550 450 (100)

265 Repair and Maintenance Grounds and Gro 833 - (833) 5,833 5,659 (174)

266 Repair and Maint. Bldgs. 833 1,575 741 5,833 10,788 4,955

272 Due to County - 1/2 Mixed Drinks 300 353 53 2,100 2,886 786

280 Travel 1,250 - (1,250) 3,750 2,045 (1,705)

293 Recording Documents (with Register's ) 17 17 0 117 71 (46)

298 Drug Testing Fees 250 361 111 1,750 1,706 (44)

301 Grass Cutting Liens - - - - 27 27

310 Office Supplies and Materials 792 927 135 5,542 6,695 1,153

311 Postage and Supplies 333 348 14 2,333 2,893 559

312 Printing / Mailing Prop Tax Notices - - - 2,700 2,663 (37)

317 Independence Day Celebration 10,000 - (10,000) 12,000 8,032 (3,968)

318 Family Day - - - 1,500 1,476 (24)

319 Audio/Visual Supplies - 20 20 450 55 (395)

320 Operating Supplies 1,084 1,533 449 7,836 5,585 (2,251)

321 Education & Training Sup (Safer Grant) - - - - - -

323 Safety Supplies - - - 200 65 (135)

324 Household and Janitorial Supplies 208 215 7 1,458 2,796 1,337

325 Event Expenses - - - - - -

JANUARY FINAL



326 Clothing and Uniforms 2,292 1,363 (929) 16,042 7,840 (8,202)

327 Fire Arm Supplies 10,000 583 (9,417) 10,000 750 (9,250)

328 Education Supplies / Programs 600 2 (598) 4,200 3,111 (1,089)

329 Training and Supplies - 1,103 1,103 7,500 6,178 (1,322)

331 Gas, Oil, Diesel Fuel, Grease, Etc. 11,667 8,588 (3,079) 81,667 76,463 (5,203)

334 Tires, Tubes and Etc. 4,000 1,006 (2,994) 12,000 6,089 (5,911)

341 Tools 1,250 887 (363) 3,750 1,002 (2,748)

342 Sign Parts and Supplies 125 - (125) 375 1,461 1,086

345 GHSO Grant - - - - 18,222 18,222

510 Property and Liability Insurance 35,000 - (35,000) 186,133 108,157 (77,976)

512 Life Insurance on Public Safety Employ 208 2,494 2,286 1,458 2,494 1,036

517 Due to Usable - Vol Ins 500 458 (42) 3,500 3,207 (293)

518 Due to Mutual of Omaha - life 2,167 2,319 153 15,167 15,892 726

519 Medical, Dental and Vision Insurance 29,167 31,903 2,736 204,167 219,719 15,552

522 Medical and Eye Reimbursements 6,250 2,819 (3,431) 43,750 53,919 10,169

710 City Match Prop T1/X Relief - - - 500 - (500)

742 Special Investigative Funds 500 - (500) 1,500 380 (1,120)

790 Other Grants, Contributions, and Indem - - - - - -

792 Improvements to Historic Village - - - - 2,500 2,500

799 Miscellaneous - - - - 1,406 1,406

930 Improvements Other Than Buildings - - - 250 1,270 1,020

932 Drainage Improvements 5,000 - (5,000) 5,000 - (5,000)

940 Machinery and Equipment 1,000 - (1,000) 9,502 7,749 (1,753)

944 Transportation Equipment - - - 35,000 34,254 (746)

945 Communication Equipment 750 - (750) 2,500 4,095 1,595

946 Fire Equipment 4,300 - (4,300) 58,700 62,099 3,399

947 Office Machinery and Equipment 1,667 - (1,667) 11,668 12,342 674

948 Computer Equip/Software 3,500 - (3,500) 10,500 6,938 (3,562)

TOTAL UNASSIGNED EXPENDITURES 410,915 332,667 (78,248) 2,876,052 2,738,617 (137,435)

JANUARY FINAL



DEBT SERVICE EXPENDITURES602 Debt Service - Fire Trucks 119,845 119,809 (36) 205,013 209,436 4,423

603 Debt Service - City Hall - - - - - -

605 Debt Service - Police Cars - - - 96,213 96,213 0

614 Debt Service - Int on Fire Trucks 12,587 12,587 - 19,118 20,754 1,635

615 Debt Service - Int on City Hall 1,833 1,684 (149) 12,833 11,970 (863)

616 Debt Service - Int on Road Loan - - - 19,571 9,786 (9,785)

617 Debt Service - Int on Police Cars - - - 12,272 12,272 -

931 Debt Service - Road Loan - - - - - -

944 Transportation Equipment - - - - - -

TOTAL DEBT SERVICE EXPENDITURES 134,266 134,081 (185) 365,021 360,431 (4,590)

SCHOOL FACILITIES TAXREVENUE

31921 Adequate School Facilities 11,250 8,376 (2,874) 78,750 65,318 (13,432)

EXPENDITURES

- - - - - -

STATE STREET AIDREVENUE

33551 State Gasoline Tax 17,083 17,594 511 119,582 121,401 1,819

EXPENDITURES - -

247 Street Lighting (Electric and Maint) 3,333 2,351 (983) 23,333 14,695 (8,638)

342 Sign Parts and Supplies 292 - (292) 2,542 937 (1,605)

343 Traffic Signal Maintenance 500 - (500) 1,000 2,398 1,398

931 Street Paving and Improvements - 3,273 3,273 20,000 3,273 (16,727)

933 Gravel and Repairs to Streets - - - 10,000 4,113 (5,887)

940 Machinery and Equipment 833 737 (96) 5,833 5,779 (55)

TOTAL 4,958 6,361 1,403 62,708 31,195 (31,514)

TOTAL GENERAL FUND REVENUES 543,732 528,072 (15,660) 3,175,059 3,016,302 (158,758)

TOTAL GENERAL FUND EXPENDITURES 550,139 473,109 (77,031) 3,303,781 3,130,242 (173,539)

JANUARY FINAL



FACILITIES TAXREVENUE

33870 Municipal Bldgs - Facility Tax 6,250 8,792 2,542 44,167 35,142 (9,025)

Transfer in from Reserves - - - -

36100 Interest Income 8 3 (5) 131 24 (107)

36966 Operating Trans from Capitol Proj Fund - -

TOTAL 6,258 8,795 2,537 44,298 35,166 (9,132)

EXPENDITURES - - - 40,415 40,415

Net Activity (Loss) 6,258 8,795 2,537 44,298 (5,249) (49,547)

DRUG FUNDREVENUE

34110 Sale of Drug Fund Vehicles, Etc - - - - 2,670 2,670

35145 Sale of Drug Fund Vehicles, Etc - - - - - -

35200 Forfeits - - - - 1,369 1,369

36100 Interest Income - 4 4 - 20 20

36340 City Auction Sales - 8,258 8,258 - 30,685 30,685

TOTAL - 8,262 8,262 - 34,744 34,744

EXPENDITURES

235 Registration Fees, Tuition 50 - (50) 350 50 (300)

261 Repair and Maint. Motor Vehicles - - - - - -

320 Operating Supplies 83 - (83) 500 1,709 1,209

940 Machinery and Equipment 833 1,000 167 500 9,504 9,004

944 Transportation Equipment - - - 50,000 47,042 (2,958)

948 Computer Equipment/Software - 575 575 - 4,532 4,532

952 Drug Dog Supplies 83 150 67 500 703 203

953 Drug Dog Vet Expense - - - 500 48 (452)

954 Due to Drug Task Force - - - - -

TOTAL 1,050 1,725 675 52,350 63,588 11,238

Net Activity (Loss) (1,000) 6,537 7,537 (52,350) (31,514) 20,536

GRAND TOTAL EXPENDITURES 551,189 474,834 (76,355) 3,356,131 3,234,246 (121,885)

GRAND TOTAL REVENUE 549,990 545,128 (4,862) 3,219,357 3,086,212 (133,145)

EXPENSE TO REVENUE (LOSS) (1,199) 70,295 71,494 (136,774) (148,034) (11,260)

January 2015

CITY OF FAIRVIEW

YEAR ENDED JUNE 30, 2015

DECEMBER JANUARY JANUARY YTD YTDACCT DESCRIPTION PROJECTED ACTUAL VAR PROJECTED ACTUAL VAR

GENERAL FUNDUNASSIGNEDBeginning Balance (431,135) (161,316) Revenue 515,399 502,102 (13,297) 2,976,727 2,829,583 (147,144) Expenditures 410,915 332,667 (78,248) 2,876,052 2,738,617 (137,435) Debt Service 134,266 134,081 (185) 365,021 360,431 (4,590) Transfers In - - 35,000 35,000 Ending Balance (395,781) 35,354 (395,781) (234,465)

SCHOOL FACILITIES TAXBeginning Balance 469,008 412,065 Revenue 11,250 8,376 (2,874) 78,750 65,318 (13,432) Expenditures - - Transfers - - Ending Balance 477,384 8,376 477,384 65,319

STATE STREET AIDBeginning Balance 212,872 133,686 Revenue 17,083 17,594 511 119,582 121,401 1,819 Expenditures 4,958 6,361 1,403 62,708 31,195 (31,513) Transfers - Ending Balance 224,105 11,233 224,105 90,419

BOWIE PARK FUNDBeginning Balance 194,563 229,501 Revenue 17 95 ExpendituresTransfers (35,000) Ending Balance 194,580 17 194,596 (34,905)

TREE FUNDBeginning Balance 97,297 97,255 Revenue 8 59 ExpendituresTransfers Ending Balance 97,305 8 97,314 59

GENERAL FUND TOTALSBeginning Balance 542,288 711,191 Revenue 543,732 528,072 (15,660) 3,175,059 3,016,302 (158,757) Expenditures 550,139 473,109 (77,030) 3,303,781 3,130,242 (173,539) Transfers - - Ending Balance 597,251 54,963 597,251 (113,940)

January 2015

CITY OF FAIRVIEW

YEAR ENDED JUNE 30, 2015

DECEMBER JANUARY JANUARY YTD YTDACCT DESCRIPTION PROJECTED ACTUAL VAR PROJECTED ACTUAL VAR

FACILITIES TAXBeginning Balance 91,214 105,258 Revenue 6,258 8,795 2,537 44,298 35,166 (9,132) Expenditures - - 40,415 40,415 Transfers Ending Balance 100,009 8,795 100,009 (5,249)

DRUG FUND

Beginning Balance 88,437 123,732 Revenue 8,262 34,744 Expenditures 1,050 1,725 675 52,350 63,588 11,238 Transfers Ending Balance 94,974 6,537 94,974 (28,758)

GRAND TOTALSBeginning Balance 721,851 940,181 Revenue 549,990 545,129 (4,861) 3,219,357 3,086,212 (133,146) Expenditures 551,190 474,833 (76,357) 3,356,131 3,234,246 (121,885)

- - - Ending Balance 792,147 70,296 792,147 (148,034)

JANUARY 2015

City of FairviewEstimated Fund BalancesFiscal Year 2014-2015

Unassigned Park Street Aid School Facilities Tree Bank Total

Audit Fund Balance July 1, 2014 (161,316)$ 229,501$ 133,686$ 412,065$ 97,255$ 711,191$

Revenues 2,829,583$ -$ 121,401$ 65,318$ -$ 3,016,302$ Transfers In 35,000$ -$ -$ -$ -$ 35,000$ Expenditures 2,738,617$ -$ 31,195$ -$ -$ 2,769,812$ Debt Service 360,431$ -$ -$ -$ -$ 360,431$ Transfers Out -$ 35,000$ -$ -$ -$ 35,000$

Estimated Fund Balance January 31, 2015 (395,781)$ 194,501$ 224,105$ 477,383$ 97,255$ 597,251$

Appropriated Expenditures 2,333,863$ -$ 82,805$ 65,250$ 3,215$ 2,485,133$ Possible Outlay not Budgeted -$ 120,000$ -$ -$ -$ 120,000$ Estimated Increases for FY 14-15 2,783,222$ -$ 83,599$ 69,682$ -$ 2,936,503$

Estimated Fund Balance June 30, 2015 53,578$ 74,501$ 224,899$ 481,815$ 94,040$ 928,621$

All FundsFacilities Tax Drug Total Total

Audit Fund Balance July 1, 2014 105,258$ 123,732$ 228,990$ 940,181$

Revenues 35,166$ 34,744$ 69,910$ 3,086,212$ Transfers In -$ -$ -$ 35,000$ Expenditures 40,415$ 63,588$ 104,003$ 2,873,815$ Debt Service -$ -$ -$ 360,431$ Transfers Out -$ -$ -$ 35,000$

Estimated Fund Balance January 31, 2015 100,009$ 94,974$ 194,897$ 792,147$

Appropriated Expenditures 81,000$ 11,262$ 92,262$ 2,577,395$ Possible Outlay not Budgeted -$ 6,000$ 6,000$ 126,000$ Estimated Increases for FY 14-15 (166)$ -$ (166)$ 2,936,337$

Estimated Fund Balance June 30, 2015 18,843$ 77,712$ 96,469$ 1,025,089$

General Fund

Restricted Funds

JANUARY 2015

FINANCE REPORT

City of Fairview Revenues $545,128

2/12/15

Sales Taxes - Combined

39%

Property Taxes

28%

Gas Franchise Tax

12%

TVA Payments in Lieu of

Taxes

5%

Wholesale Beer Taxes

4%

State Street Aid

4%

Employee Contributions

2% Fire Safer Grant

2%

Wholesale

Liqour

Taxes

2%

School Facilities Tax

2%

January 2015 Revenue

City of Fairview – Expenditures $474,834

2/12/15

Salaries

38%

Debt Service (Includes

Interest)

28%

Medical, Dental,

Vision Ins

7%

TCRS Retirement

3%

OASI Employer's Share

3%

Part-Time Salaries

2%

Gas, Oil, Diesel

Fuel, Grease, Etc.

2%

Fire Safer Grant

Salaries

2% Utilities

1%

Salaries-Overtime

1% Other

13%

January 2015 Expenditures

2/12/15 January YTD

Projected Revenue $ 549,990 $ 3,219,357

Actual Revenue $ 545,128 $ 3,086,212

Variance $ (4,862) $ (133,145)

July August September October November December January February March April May June

Projected $362,541 $711,730 $1,049,187 $1,449,627 $1,852,569 $2,669,367 $3,219,358 $3,924,100 $4,294,111 $4,671,803 $5,101,775 $5,647,805

Actual $425,617 $737,920 $1,050,220 $1,383,445 $1,783,557 $2,541,084 $3,086,212

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

Projected vs Actual Revenues

2/12/15 January YTD

Projected Expenditures $ 551,189 $ 3,356,131

Actual Expenditures $ 474,834 $ 3,234,246

Variance $ (76,355) $ (121,885)


Projected $500,144 $880,433 $1,330,767 $1,839,328 $2,240,477 $2,804,942 $3,356,131 $3,708,637 $4,067,268 $4,436,474 $5,058,722 $5,432,911

Actual $401,089 $822,065 $1,241,326 $1,768,744 $2,185,309 $2,759,412 $3,234,246

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

Projected vs Actual Expenditures

City of Fairview – Revenues -- $3,086,212

7/1/14 thru 1/31/15

2/12/15

Sales Tax - Combined

43%

Property Taxes

23%

Wholesale Beer Taxes

4%

State Street Aid

4%

Fire Safer Grant

3%

City Court Fines & Costs

2%

Cable TV Franchise Tax

2%

School Facilities Tax

2%

Gas Franchise Tax

2%

Employee Contributions

2%

TVA Payments in Lieu

of Taxes

1%

Other Revenues

12%

FYTD Revenues

City of Fairview – FYTD 2015 Expenditures -- $3,234,246

7/1/14 thru 1/31/15

2/12/15

Salaries

42%

Debt Service

11% Medical, Dental, &

Vision Insurance

7%

Property, Liability, &

Worker's Comp

3%

Social Security

3%

TCRS Retirement

3%

Transportation Equipment

3%

Part-time Salaries

2%

Gas, Oil, Diesel, Grease,

Etc.

2%

Fire Equipment

2%

Other Expenditures

22%

FYTD Expenditures

FYTD Revenues vs Expenditures

2/12/15

7/1/14 thru 1/31/15-- Revenues $ 3,086,212

7/1/14 thru 1/31/15 -- Expenditures $ 3,234,246

FYTD Surplus/(Deficit) $ (148,034)

$- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000

July

August

September

October

November

December

January

July August September October November December January

Expenditures $401,089 $420,976 $419,261 $527,418 $416,565 $574,103 $474,834

Revenue $425,617 $312,303 $312,300 $333,225 $400,112 $757,527 $545,128

YTD Revenues Vs Expenditures

2/12/15

FY 15 Revenues -- July thru January $ 3,086,212 FY 14 Revenues -- July thru January $ 2,644,450

FY 15 Above/(Below) FY 14 Revenues $ 441,762


FY 14 $286,849 $245,447 $263,222 $307,775 $313,188 $802,095 $425,874 $574,980 $325,660 $315,103 $335,048 $362,507

FY15 $425,617 $312,303 $312,300 $333,225 $400,112 $757,527 $545,128

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

Fiscal Year 14 vs Fiscal Year 15

Revenues Comparison

2/12/15

FY 15 Expenditures -- July thru January $ 3,234,246 FY 14 Expenditures -- July thru January $ 3,317,669

FY 15 Above/(Below) FY 14 Expenditures $ (83,423)


FY 14 $465,782 $421,036 $483,269 $505,583 $619,402 $409,135 $413,461 $348,745 $349,299 $481,656 $569,314 $276,791

FY15 $401,089 $420,976 $419,261 $527,418 $416,565 $574,103 $474,834

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

Fiscal Year 14 vs Fiscal Year 15

Expenditures Comparison

JANUARY 2015

FINANCE REPORT