City of Troy financial presentation
Troy Mayor Patrick Madden led a public forum in the city's 2015 and first quarter 2016 financial reports.
Content
City of Troy, New York
1
Overview Of Presentation
• This presentation will review the following three topics in the General
Fund:
– A brief review of the 2015 Annual Update Document filed with the New York State
Comptroller’s Office of all three operating funds
– A macro level review of the revenues and expenditures as of March 31, 2016 in all
three operating funds
– Areas of potential concern going forward in 2016 within the General Fund
• This presentation is to be used as supplement to the written report
issued to City Council on April 15, 2016.
• All totals for 2015 & 2016 are unaudited as of the date of this
presentation but have been reviewed thoroughly by the City
Comptroller’s Office.
2
City of Troy, New York
Fiscal Year 2015
General Fund
3
Overview Of 2015 General Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
65,982,216
66,796,006
(813,790)
Expenditures
65,287,704
66,796,006
(1,508,302)
694,512
0
694,512
Difference
67,000,000
66,000,000
66,500,000
64,000,000
66,000,000
65,500,000
Actual
Revenues
Budget
Expenditures
62,000,000
65,000,000
64,500,000
Revenues
Expenditures
60,000,000
4
2011 – 2015 General Fund Revenues
66,500,000
65,982,216
65,671,462
65,500,000
64,500,000
64,481,396
64,249,403
64,050,448
63,500,000
2011
2012
2013
2014
2015
5
General Fund Revenues 2014 - 2015
Revenue Source
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Real Property Taxes
18,870,015
19,611,849
19,940,127
30.2%
Real Property Tax Items
1,831,490
2,046,000
2,116,301
3.2%
Non Property Tax Items
16,680,233
16,500,000
16,578,007
25.1%
Departmental Income
4,858,521
4,902,405
5,228,856
7.9%
Intergovernmental Charges
313,130
352,130
372,765
0.6%
Licenses And Permits
763,615
703,000
731,268
1.1%
Fines And Forfeitures
1,018,098
1,281,500
1,194,874
1.8%
32,659
705,500
35,067
0.1%
Miscellaneous
1,285,447
1,292,494
1,384,119
2.1%
Interfund Revenues
1,716,042
1,804,462
1,575,773
2.4%
State Aid
13,529,223
13,629,463
13,591,391
20.6%
929,313
1,096,270
1,021,860
1.5%
2,653,610
2,038,000
2,211,808
3.4%
0
832,933
0
0.0%
64,481,396
66,796,006
65,982,216
Sale Of Property
Federal Aid
Intrafund Transfers
Reserves Usage
Total
6
2011 – 2015 General Fund Expenditures
66,500,000
66,271,022
66,000,000
65,691,794
65,516,784
65,500,000
65,287,704
65,000,000
64,890,866
64,500,000
2011
2012
2013
2014
2015
7
General Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
9,270,031
9,042,996
8,939,270
13.7%
Wages – Public Safety
19,916,396
19,943,597
19,838,933
30.4%
Benefits
8,580,473
9,462,493
9,142,285
14.0%
Benefits – Public Safety
11,221,357
10,612,543
10,446,890
16.0%
30,294
117,198
129,281
0.2%
Materials & Supplies
2,197,807
2,388,231
2,015,298
3.1%
Utilities
2,843,676
2,522,395
2,487,377
3.8%
Contractual Services
4,270,557
4,602,542
4,677,218
7.2%
0
550,589
0
0.0%
Judgment & Claims
63,070
269,000
290,618
0.4%
Debt Service – Other
564,355
572,445
572,298
0.9%
Debt Service – MAC
5,704,759
5,941,977
5,960,233
9.1%
Undistributed Funds
58,538
45,000
63,003
0.1%
Interfund Transfers
795,471
725,000
725,000
1.1%
65,516,784
66,796,006
65,287,704
Equipment
Contingency
Total
8
General Fund Balance As Of December 31, 2015
2014
2015
Difference
Beginning Balance
12,933,141
11,897,752
(1,035,389)
Add (Surplus) / Less (Deficit)
(1,035,389)
694,512
1,639,901
Ending Balance
11,897,752
12,592,264
694,512
• The AUD calculates a surplus / deficit based on total actual revenues received during the
fiscal year and does not account for any budgeted use of reserves as revenues.
9
2015 General Fund Balance
Classification
Example
2014
Nonspendable Fund Balance
Prepaid Expenses
Restricted Fund Balance
Reserves
Committed Fund Balance
Restricted Monies Passed By City Council
Assigned Fund Balance
Encumbrances
Unassigned Fund Balance
Unrestricted Monies
Total Fund Balance
2015
30,490
1,341,884
10,636,895
11,269,611
0
0
153,625
72,593
1,076,473
(91,824)
11,897,753
12,592,264
14,500,000
14,163,641
13,773,568
13,500,000
12,933,150
12,592,264
12,500,000
11,897,753
11,500,000
2011
2012
2013
2014
2015 10
City of Troy, New York
Fiscal Year 2015
Water Fund
11
Overview Of 2015 Water Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
13,421,427
12,872,636
548,791
Expenditures
11,767,265
12,872,636
(1,105,371)
Difference
1,654,162
0
1,654,162
13,500,000
14,000,000
12,500,000
11,000,000
11,500,000
Actual
Revenues
Budget
Expenditures
8,000,000
10,500,000
Revenues
Expenditures
5,000,000
12
2011 – 2015 Water Fund Revenues
13,500,000
13,421,427
13,250,000
13,000,000
12,928,460
12,737,059
12,750,000
12,500,000
12,250,000
12,233,280
12,056,619
12,000,000
2011
2012
2013
2014
2015
13
Water Fund Revenues 2014 - 2015
Revenue Source
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Metered Sales – City Of Troy
4,561,053
4,750,000
4,560,360
34.0%
Metered Sales – Outside Communities
7,186,561
7,015,562
7,734,335
57.6%
Unmetered Sales
394,829
260,000
283,329
2.1%
Use Of Money & Property
212,441
210,000
245,584
1.8%
Permits
12,265
12,000
15,030
0.1%
Sale Of Property
89,182
51,000
47,767
0.4%
Miscellaneous
93,750
70,705
102,452
0.8%
Interfund Revenues
327,000
327,000
327,000
2.4%
State Aid
12,092
0
26,392
0.2%
Federal Aid
36,275
0
79,177
0.6%
Intrafund Transfers
3,011
0
0
0.0%
0
176,369
0
0.0%
12,928,460
12,872,636
13,421,427
Reserves Usage
Total
14
2011 – 2015 Water Fund Expenditures
17,000,000
16,898,502
15,500,000
14,240,267
14,000,000
13,165,434
12,500,000
11,928,899
11,767,265
11,000,000
2011
2012
2013
2014
2015
15
Water Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
2,969,345
3,242,523
3,017,663
25.7%
Benefits
1,709,623
1,646,764
1,580,585
13.4%
10,623
131,983
40,462
0.3%
1,933,913
2,090,807
1,731,092
14.7%
416,744
458,500
323,896
2.8%
1,579,700
1,819,492
1,610,885
13.7%
934,209
934,209
934,209
7.9%
2,472,000
1,972,000
1,972,000
16.8%
574,110
576,358
556,473
4.7%
Capital Fund Transfer
1,640,000
0
0
0.0%
Total
14,240,267
12,872,636
11,767,265
Equipment
Materials & Supplies
Utilities
Contractual Services
Services Due Other Funds
Intrafund Transfers
Debt Service
16
Historical Review Of Transfers Between Water & General Funds
Year
2010 – Services
2010 – Profits
2011 – Services
2011 – Profits
2012 – Services
2012 – Profits
2013 – Services
2013 – Profits
2014 – Services
2014 – Profits
2015 – Services
2015 – Profits
Amount Passed In
Original Budget
Actual Annual
Total Of Transfer
Difference
759,209
759,209
0
1,472,000
1,472,000
0
759,209
759,209
0
1,972,000
1,972,000
0
759,209
759,209
0
1,972,000
1,972,000
0
759,209
759,209
0
1,972,000
1,972,000
0
934,209
934,209
0
2,472,000
2,472,000
0
934,209
934,209
0
1,972,000
1,972,000
0
17
Water Fund Balance As Of December 31, 2015
2014
•
2015
Beginning Balance
4,347,204
3,035,397
Add: Revenues
12,928,460
13,421,427
Less: Operating Expenditures
(10,128,267)
(9,795,265)
Operating Surplus (Deficit)
2,800,193
3,626,162
Less: Interfund Transfers To General
(2,472,000)
(1,972,000)
Less: Transfers To Capital Fund
(1,640,000)
0
Ending Balance
3,035,397
4,689,559
The AUD calculates a surplus / deficit based on total actual revenues received during the fiscal year and does not
18
account for any budgeted use of reserves as revenues.
City of Troy, New York
Fiscal Year 2015
Sewer Fund
19
Overview Of 2015 Sewer Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
3,911,787
4,547,176
(635,389)
Expenditures
4,005,894
4,547,176
(541,282)
(94,107)
0
(94,107)
Difference
4,600,000
4,100,000
4,000,000
4,200,000
3,900,000
Actual
3,800,000
3,800,000
Budget
Revenues
Expenditures
3,700,000
3,400,000
3,600,000
3,000,000
Revenues
Expenditures
3,500,000
20
2011 – 2015 Sewer Fund Revenues
4,000,000
3,911,787
3,567,496
3,500,000
3,000,000
2,904,752
2,500,000
2,308,668
2,000,000
2,191,260
2011
2012
2013
2014
2015
21
Sewer Fund Revenues 2014 - 2015
Revenue Source
Sewer Rents – City Of Troy
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
2,929,672
4,037,500
3,607,110
92.2%
Sewer Rents – Rensselaer County
141,054
141,053
143,875
3.7%
Sewer Charges
121,333
103,100
135,422
3.5%
152
1,000
253
0.0%
Miscellaneous
23,137
27,221
25,127
0.6%
State Aid
88,037
0
0
0.0%
Federal Aid
264,111
0
0
0.0%
0
237,302
0
0.0%
3,567,496
4,547,176
3,911,787
Use Of Money & Property
Reserves Usage
Total
22
2011 – 2015 Sewer Fund Expenditures
4,250,000
4,005,894
3,750,000
3,250,000
2,870,135
2,831,468
2,750,000
2,615,635
2,518,437
2,250,000
2011
2012
2013
2014
2015
23
Sewer Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
873,478
921,029
880,448
22.0%
Benefits
526,056
552,504
525,191
13.1%
Equipment
23,843
23,000
21,490
0.4%
Materials & Supplies
203,591
259,032
196,323
4.9%
9,859
15,859
7,825
0.2%
Combined Sewer Overflow
471,100
1,121,270
868,886
21.7%
Contractual Services
169,984
195,793
52,074
1.3%
Intrafund Transfer - General
327,000
327,000
327,000
8.2%
Intrafund Transfer – Water
152,209
152,332
152,209
3.8%
Contingency
0
18,652
0
0.0%
Debt Service
74,348
60,705
74,448
1.9%
0
900,000
900,000
22.5%
2,831,468
4,547,176
4,005,894
Utilities
Debt Service Fund Transfer
Total
24
Sewer Fund Balance As Of December 31, 2015
2014
2015
Difference
Beginning Balance
126,236
862,264
736,028
Add (Surplus) / Less (Deficit)
736,028
(94,107)
(830,135)
Ending Balance
862,264
768,157
(94,107)
• The AUD calculates a surplus / deficit based on total actual revenues received during the
fiscal year and does not account for any budgeted use of reserves as revenues.
25
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
General Fund
As Of March 31, 2016
26
Overview Of General Fund Revenues
•
•
2016 First Quarter Total
$14,381,045
•
$14,381,045
•
2015 First Quarter Total
$13,375,680
•
2016 Budget Total
$68,120,975
•
2016 – 2015 Dollar Change
$1,005,365
•
2016 First Quarter Total
Difference Between Budget And Actual
($53,739,930)
•
2016 – 2015 Percent Change
7.52%
Percent Of Budget Received
21.11%
15,000,000
14,381,045
14,250,000
13,500,000
12,750,000
13,375,680
13,055,468
12,383,914
12,467,154
12,000,000
2012
2013
2014
2015
2016 27
Real Property Taxes
•
•
2016 First Quarter Total
$10,811,462
•
$10,811,462
•
2015 First Quarter Total
$10,084,015
•
2016 Budget Total
$20,852,598
•
2016 – 2015 Dollar Change
$727,447
•
2016 First Quarter Total
Difference Between Budget And Actual
($9,771,136)
•
2016 – 2015 Percent Change
7.21%
Percent Of Budget Received
52.53%
52.75%
52.53%
52.00%
51.75%
51.42%
51.25%
51.10%
51.02%
50.50%
2012
2013
2014
2015
2016 28
Departmental Income
•
•
2016 First Quarter Total
$1,349,753
•
$1,349,753
•
2015 First Quarter Total
$1,022,657
•
2016 Budget Total
$5,226,982
•
2016 – 2015 Dollar Change
$327,096
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,877,229)
•
2016 – 2015 Percent Change
31.98%
Percent Of Budget Received
25.82%
1,400,000
1,349,753
1,330,953
1,300,000
1,200,000
1,158,088
1,100,000
1,022,657
1,034,345
1,000,000
2012
2013
2014
2015
2016 29
What Makes Up Departmental Income?
• The following revenue sources make up Departmental Income
– General Government Support
$34,590
10.58%
$317,880
67.35%
$213,521
12.03%
$214,387
31.07%
$139,791
9.89%
$429,584
78.11%
• Treasurer's Fees
– Public Safety
• Vacant Building Fees
– Health
• Ambulance Billing
– Transportation
• Parking Garages & Lots
– Recreation
• Golf Fees
– Home & Community Services
• Recycling Charges
30
Licenses & Permits
•
•
2016 First Quarter Total
$283,298
•
$283,298
•
2015 First Quarter Total
$75,792
•
2016 Budget Total
$616,000
•
2016 – 2015 Dollar Change
$207,506
•
2016 First Quarter Total
Difference Between Budget And Actual
($332,702)
•
2016 – 2015 Percent Change
273.78%
Percent Of Budget Received
45.99%
300,000
283,298
254,369
250,000
200,000
150,000
100,000
129,845
76,936
75,792
50,000
2012
2013
2014
2015
2016 31
Fines & Forfeitures
•
•
2016 First Quarter Total
$273,182
•
$273,182
•
2015 First Quarter Total
$170,166
•
2016 Budget Total
$1,228,500
•
2016 – 2015 Dollar Change
$103,016
•
2016 First Quarter Total
Difference Between Budget And Actual
($955,018)
•
2016 – 2015 Percent Change
60.54%
Percent Of Budget Received
22.24%
300,000
288,598
273,182
250,000
214,939
200,000
150,000
174,392
170,166
2014
2015
100,000
2012
2013
2016 32
Overview Of General Fund Expenditures
•
•
2016 First Quarter Total
2016 First Quarter Total
$18,321,899
•
$18,321,899
•
2015 First Quarter Total
2016 Budget Total
$16,968,739
•
$68,120,975
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$1,353,160
•
$49,799,076
•
2016 – 2015 Percent Change
Percent Of Budget Expended
7.97%
26.90%
18,500,000
18,321,899
18,000,000
17,794,367
17,500,000
17,329,687
17,000,000
16,974,832
16,968,739
16,500,000
2012
2013
2014
2015
2016 33
Code 1 – Permanent Salaries
•
•
2016 First Quarter Total
$5,340,798
•
$5,340,798
•
2015 First Quarter Total
$5,406,435
•
2016 Budget Total
$23,391,029
•
2016 – 2015 Dollar Change
($65,637)
•
2016 First Quarter Total
Budget Dollars Remaining
$18,050,231
•
2016 – 2015 Percent Change
(1.21%)
Percent Of Budget Expended
22.83%
5,800,000
5,769,089
5,600,000
5,545,246
5,542,800
5,400,000
5,406,435
5,340,798
5,200,000
2012
2013
2014
2015
2016 34
Code 1 – Overtime
•
•
2016 First Quarter Total
$63,737
•
$63,737
•
2015 First Quarter Total
$252,211
•
2016 Budget Total
$383,500
•
2016 – 2015 Dollar Change
($188,474)
•
2016 First Quarter Total
Budget Dollars Remaining
$319,763
•
2016 – 2015 Percent Change
(74.73%)
Percent Of Budget Expended
16.62%
275,000
252,211
211,096
200,000
125,000
86,842
87,316
63,737
50,000
2012
2013
2014
2015
2016 35
Code 1 – Police Overtime
•
•
2016 First Quarter Total
$208,673
•
$208,673
•
2015 First Quarter Total
$127,742
•
2016 Budget Total
$918,635
•
2016 – 2015 Dollar Change
$80,931
•
2016 First Quarter Total
Budget Dollars Remaining
$709,962
•
2016 – 2015 Percent Change
63.36%
Percent Of Budget Expended
22.72%
220,000
208,673
180,000
175,037
157,848
140,000
127,742
105,722
100,000
2012
2013
2014
2015
2016 36
Code 1 – Fire Overtime
•
•
2016 First Quarter Total
2016 First Quarter Total
$314,368
•
$314,368
•
2015 First Quarter Total
2016 Budget Total
$145,399
•
$1,045,000
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$168,969
•
$730,632
•
2016 – 2015 Percent Change
Percent Of Budget Expended
116.21%
30.08%
325,000
225,000
125,000
25,000
2012
2013
2014
2015
2016
Minimum Manning
55,295
89,859
59,597
75,749
96,766
Regular Overtime
152,811
208,106
229,831
319,690
93,772
153,369
69,650
145,399
217,602
314,36837
Total
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$761,387
•
$761,387
•
2015 First Quarter Total
$1,105,495
•
2016 Budget Total
$2,301,141
•
2016 – 2015 Dollar Change
($344,108)
•
2016 First Quarter Total
Budget Dollars Remaining
$1,539,754
•
2016 – 2015 Percent Change
(31.13%)
Percent Of Budget Expended
33.09%
1,125,000
1,105,495
1,050,000
1,002,777
996,270
975,000
900,000
825,000
774,316
761,387
750,000
2012
2013
2014
2015
2016 38
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$2,087,911
•
$2,087,911
•
2015 First Quarter Total
$1,773,263
•
2016 Budget Total
$7,782,155
•
2016 – 2015 Dollar Change
$314,648
•
2016 First Quarter Total
Budget Dollars Remaining
$5,694,244
•
2016 – 2015 Percent Change
17.74%
Percent Of Budget Expended
26.83%
2,300,000
2,266,752
2,100,000
2,087,911
2,060,028
1,998,844
1,900,000
1,773,263
1,700,000
2012
2013
2014
2015
2016 39
Codes 6/7 – Debt Service
•
•
2016 First Quarter Total
$4,350,948
•
$4,350,948
•
2015 First Quarter Total
$4,261,333
•
2016 Budget Total
$6,742,802
•
2016 – 2015 Dollar Change
$89,615
•
2016 First Quarter Total
Budget Dollars Remaining
$2,391,854
•
2016 – 2015 Percent Change
2.10%
Percent Of Budget Expended
64.53%
4,400,000
4,261,333
4,350,948
4,200,000
4,064,183
4,000,000
3,909,138
3,800,000
3,753,612
3,600,000
2012
2013
2014
2015
2016 40
How Have Pension Costs Been Budgeted
• Until the 2015 budget pension costs were budgeted based on the New York
State fiscal year of April 1 thru March 31 of the subsequent year
• In 2015 the City budgeted for a time period of April 1, 2015 thru December 31,
2015 to allow for a one time budgetary savings which was reviewed and
approved by the New York State Comptroller’s Office, the City’s independent
auditing firm and the then Troy City Council
• In 2016 the City budgeted for pension costs covering a time period of January 1,
2016 thru December 31, 2016
2013 Budget = 04/01/2013 – 03/31/2014
2014 Budget = 04/01/2014 – 03/31/2015
2015 Budget = 04/01/2015 – 12/31/2015
2016 Budget = 01/01/2016 – 12/31/2016
41
Components Of The City Of Troy’s Retirement Bill
• Current year expense
• Expense for employees from January 1, 2016 thru December 31, 2016
• Current year amortization
• Amount of current year expense being amortized over future years for
payment
• Prior year payback
• Payback of prior year of amortized costs
• Net payment
• Current year expense – Current year amortization + Prior year payback
42
Code 8 – Pension
• The total Pension cost in the first quarter of 2016 was $1,235,894
• First year of pension expenditures being recorded during the first quarter
of the fiscal year
– Due to the budgeting practice change made during 2015
• City records the actual pension expenditures at the time the bill is
received
• Amounts recorded in 2016 represent the payment made in December
2015 for the time period of January 1, 2016 thru March 31, 2016
• By prepaying the first quarter pension expenditures it allowed for the City
to receive a discount
43
Code 8 – Health Insurance
•
•
2016 First Quarter Total
$2,906,399
•
$2,906,399
•
2015 First Quarter Total
$2,730,485
•
2016 Budget Total
$11,789,458
•
2016 – 2015 Dollar Change
$175,914
•
2016 First Quarter Total
Budget Dollars Remaining
$8,883,059
•
2016 – 2015 Percent Change
6.44%
Percent Of Budget Expended
24.65%
3,000,000
2,900,424
2,906,399
2,850,000
2,730,485
2,700,000
2,567,432
2,550,000
2,452,726
2,400,000
2012
2013
2014
2015
2016 44
Code 8 – Dental Insurance
•
•
2016 First Quarter Total
$147,235
•
$147,235
•
2015 First Quarter Total
$159,365
•
2016 Budget Total
$604,550
•
2016 – 2015 Dollar Change
($12,130)
•
2016 First Quarter Total
Budget Dollars Remaining
$457,315
•
2016 – 2015 Percent Change
(7.61%)
Percent Of Budget Expended
24.35%
165,000
163,671
160,424
160,000
159,365
155,000
150,000
147,235
146,531
145,000
2012
2013
2014
2015
2016 45
Areas To Focus On Going Forward In Fiscal Year
•
Sale Of Property
– One Monument Square $650,000
– Scolite
$500,000
•
Public Safety Overtime
– Historical trends show it rising as the year progresses
•
Sales Tax
•
Ambulance Billing
– Current year amounts trending shows will reach budgeted revenue of $1,700,000
•
Parking Tickets
– Amnesty Program
– Increased Collections
•
Franchise settlement
– Expiration of Time Warner contract with the City Of Troy
46
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
Water Fund
As Of March 31, 2016
47
Overview Of Water Fund Revenues
•
•
2016 First Quarter Total
$1,758,309
•
$1,758,309
•
2015 First Quarter Total
$2,229,619
•
2016 Budget Total
$12,904,325
•
2016 – 2015 Dollar Change
($471,310)
•
2016 First Quarter Total
Difference Between Budget And Actual
($11,146,016)
•
2016 – 2015 Percent Change
(21.14%)
Percent Of Budget Received
13.63%
2,750,000
2,722,191
2,550,000
2,350,000
2,229,619
2,150,000
2,107,546
1,950,000
1,786,774
1,750,000
2012
2013
2014
1,758,309
2015
2016 48
City Water Sales
•
•
2016 First Quarter Total
$939,936
•
$939,936
•
2015 First Quarter Total
$1,164,368
•
2016 Budget Total
$4,770,000
•
2016 – 2015 Dollar Change
($224,432)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,830,064)
•
2016 – 2015 Percent Change
(19.27%)
Percent Of Budget Received
19.71%
1,200,000
1,173,587
1,164,368
1,100,000
1,000,000
939,936
900,000
914,591
843,685
800,000
2012
2013
2014
2015
2016 49
Outside Community Water Sales
•
•
2016 First Quarter Total
$506,494
•
$506.494
•
2015 First Quarter Total
$606,730
•
2016 Budget Total
$7,122,737
•
2016 – 2015 Dollar Change
($100,236)
•
2016 First Quarter Total
Difference Between Budget And Actual
($6,616,243)
•
2016 – 2015 Percent Change
(16.52%)
Percent Of Budget Received
7.11%
620,000
606,730
570,000
520,000
506,494
489,836
470,000
469,226
433,342
420,000
2012
2013
2014
2015
2016 50
Overview Of Water Fund Expenditures
•
•
2016 First Quarter Total
$2,869,236
•
$2,869,236
•
2015 First Quarter Total
$3,060,312
•
2016 Budget Total
$12,904,325
•
2016 – 2015 Dollar Change
($191,076)
•
2016 First Quarter Total
Budget Dollars Remaining
$10,035,089
•
2016 – 2015 Percent Change
(6.24%)
Percent Of Budget Expended
22.23%
3,500,000
3,470,329
3,293,061
3,300,000
3,100,000
3,060,312
2,991,299
2,900,000
2,869,236
2,700,000
2012
2013
2014
2015
2016 51
Code 1 – Overtime
•
•
2016 First Quarter Total
$64,446
•
$64,446
•
2015 First Quarter Total
$49,117
•
2016 Budget Total
$185,500
•
2016 – 2015 Dollar Change
$15,329
•
2016 First Quarter Total
Budget Dollars Remaining
$121,054
•
2016 – 2015 Percent Change
31.21%
Percent Of Budget Expended
34.74%
70,000
66,205
65,000
64,446
60,000
55,000
49,117
50,000
47,703
45,000
40,000
40,104
35,000
2012
2013
2014
2015
2016 52
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$861,443
•
$861,443
•
2015 First Quarter Total
$1,147,593
•
2016 Budget Total
$1,972,426
•
2016 – 2015 Dollar Change
($286,150)
•
2016 First Quarter Total
Budget Dollars Remaining
$1,110,983
•
2016 – 2015 Percent Change
(24.93%)
Percent Of Budget Expended
43.67%
1,200,000
1,147,593
1,093,740
1,100,000
1,000,000
970,220
900,000
887,698
861,443
800,000
2012
2013
2014
2015
2016 53
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$845,548
•
$845,548
•
2015 First Quarter Total
$829,378
•
2016 Budget Total
$5,378,158
•
2016 – 2015 Dollar Change
$16,170
•
2016 First Quarter Total
Budget Dollars Remaining
$4,532,610
•
2016 – 2015 Percent Change
1.95%
Percent Of Budget Expended
15.72%
940,000
934,741
910,000
902,186
880,000
850,000
845,548
832,767
829,378
820,000
2012
2013
2014
2015
2016 54
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
Sewer Fund
As Of March 31, 2016
55
Overview Of Sewer Fund Revenues
•
•
2016 First Quarter Total
$972,117
•
$972,117
•
2015 First Quarter Total
$1,301,842
•
2016 Budget Total
$4,472,852
•
2016 – 2015 Dollar Change
($329,725)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,500,735)
•
2016 – 2015 Percent Change
(25.33%)
Percent Of Budget Received
21.73%
1,400,000
1,301,842
1,200,000
1,000,000
972,117
800,000
600,000
623,831
533,568
457,644
400,000
2012
2013
2014
2015
2016 56
Sewer Rents
•
•
2016 First Quarter Total
$786,344
•
$786,344
•
2015 First Quarter Total
$957,387
•
2016 Budget Total
$4,201,252
•
2016 – 2015 Dollar Change
($171,043)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,414,098)
•
2016 – 2015 Percent Change
(17.87%)
Percent Of Budget Received
18.72%
1,000,000
957,387
850,000
786,344
700,000
584,628
550,000
507,602
431,805
400,000
2012
2013
2014
2015
2016 57
Overview Of Sewer Fund Expenditures
•
•
2016 First Quarter Total
$869,326
•
$869,326
•
2015 First Quarter Total
$858,086
•
2016 Budget Total
$4,472,852
•
2016 – 2015 Dollar Change
$11,240
•
2016 First Quarter Total
Budget Dollars Remaining
$3,603,526
•
2016 – 2015 Percent Change
1.31%
Percent Of Budget Expended
19.44%
1,400,000
1,311,947
1,250,000
1,196,378
1,100,000
950,000
948,985
858,086
800,000
2012
2013
2014
2015
869,326
2016 58
Code 1 – Overtime
•
•
2016 First Quarter Total
$21,115
•
$21,115
•
2015 First Quarter Total
$9,522
•
2016 Budget Total
$85,000
•
2016 – 2015 Dollar Change
$11,593
•
2016 First Quarter Total
Budget Dollars Remaining
$63,885
•
2016 – 2015 Percent Change
121.76%
Percent Of Budget Expended
24.84%
50,000
43,614
40,000
30,000
21,115
20,000
10,000
10,277
10,416
9,522
2014
2015
2012
2013
2016 59
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$82,404
•
$82,404
•
2015 First Quarter Total
$73,604
•
2016 Budget Total
$260,194
•
2016 – 2015 Dollar Change
$8,800
•
2016 First Quarter Total
Budget Dollars Remaining
$177,790
•
2016 – 2015 Percent Change
11.96%
Percent Of Budget Expended
31.67%
140,000
136,376
121,983
120,000
100,000
82,404
90,863
80,000
73,604
60,000
2012
2013
2014
2015
2016 60
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$482,499
•
$482,499
•
2015 First Quarter Total
$504,092
•
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$650,231
•
2016 – 2015 Percent Change
(4.28%)
900,000
2016 Budget Total
$1,132,730
($21,593)
•
2016 First Quarter Total
Percent Of Budget Expended
42.60%
886,025
858,434
800,000
700,000
600,000
525,637
500,000
504,092
482,499
400,000
2012
2013
2014
2015
2016 61
City of Troy, New York
62
1
Overview Of Presentation
• This presentation will review the following three topics in the General
Fund:
– A brief review of the 2015 Annual Update Document filed with the New York State
Comptroller’s Office of all three operating funds
– A macro level review of the revenues and expenditures as of March 31, 2016 in all
three operating funds
– Areas of potential concern going forward in 2016 within the General Fund
• This presentation is to be used as supplement to the written report
issued to City Council on April 15, 2016.
• All totals for 2015 & 2016 are unaudited as of the date of this
presentation but have been reviewed thoroughly by the City
Comptroller’s Office.
2
City of Troy, New York
Fiscal Year 2015
General Fund
3
Overview Of 2015 General Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
65,982,216
66,796,006
(813,790)
Expenditures
65,287,704
66,796,006
(1,508,302)
694,512
0
694,512
Difference
67,000,000
66,000,000
66,500,000
64,000,000
66,000,000
65,500,000
Actual
Revenues
Budget
Expenditures
62,000,000
65,000,000
64,500,000
Revenues
Expenditures
60,000,000
4
2011 – 2015 General Fund Revenues
66,500,000
65,982,216
65,671,462
65,500,000
64,500,000
64,481,396
64,249,403
64,050,448
63,500,000
2011
2012
2013
2014
2015
5
General Fund Revenues 2014 - 2015
Revenue Source
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Real Property Taxes
18,870,015
19,611,849
19,940,127
30.2%
Real Property Tax Items
1,831,490
2,046,000
2,116,301
3.2%
Non Property Tax Items
16,680,233
16,500,000
16,578,007
25.1%
Departmental Income
4,858,521
4,902,405
5,228,856
7.9%
Intergovernmental Charges
313,130
352,130
372,765
0.6%
Licenses And Permits
763,615
703,000
731,268
1.1%
Fines And Forfeitures
1,018,098
1,281,500
1,194,874
1.8%
32,659
705,500
35,067
0.1%
Miscellaneous
1,285,447
1,292,494
1,384,119
2.1%
Interfund Revenues
1,716,042
1,804,462
1,575,773
2.4%
State Aid
13,529,223
13,629,463
13,591,391
20.6%
929,313
1,096,270
1,021,860
1.5%
2,653,610
2,038,000
2,211,808
3.4%
0
832,933
0
0.0%
64,481,396
66,796,006
65,982,216
Sale Of Property
Federal Aid
Intrafund Transfers
Reserves Usage
Total
6
2011 – 2015 General Fund Expenditures
66,500,000
66,271,022
66,000,000
65,691,794
65,516,784
65,500,000
65,287,704
65,000,000
64,890,866
64,500,000
2011
2012
2013
2014
2015
7
General Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
9,270,031
9,042,996
8,939,270
13.7%
Wages – Public Safety
19,916,396
19,943,597
19,838,933
30.4%
Benefits
8,580,473
9,462,493
9,142,285
14.0%
Benefits – Public Safety
11,221,357
10,612,543
10,446,890
16.0%
30,294
117,198
129,281
0.2%
Materials & Supplies
2,197,807
2,388,231
2,015,298
3.1%
Utilities
2,843,676
2,522,395
2,487,377
3.8%
Contractual Services
4,270,557
4,602,542
4,677,218
7.2%
0
550,589
0
0.0%
Judgment & Claims
63,070
269,000
290,618
0.4%
Debt Service – Other
564,355
572,445
572,298
0.9%
Debt Service – MAC
5,704,759
5,941,977
5,960,233
9.1%
Undistributed Funds
58,538
45,000
63,003
0.1%
Interfund Transfers
795,471
725,000
725,000
1.1%
65,516,784
66,796,006
65,287,704
Equipment
Contingency
Total
8
General Fund Balance As Of December 31, 2015
2014
2015
Difference
Beginning Balance
12,933,141
11,897,752
(1,035,389)
Add (Surplus) / Less (Deficit)
(1,035,389)
694,512
1,639,901
Ending Balance
11,897,752
12,592,264
694,512
• The AUD calculates a surplus / deficit based on total actual revenues received during the
fiscal year and does not account for any budgeted use of reserves as revenues.
9
2015 General Fund Balance
Classification
Example
2014
Nonspendable Fund Balance
Prepaid Expenses
Restricted Fund Balance
Reserves
Committed Fund Balance
Restricted Monies Passed By City Council
Assigned Fund Balance
Encumbrances
Unassigned Fund Balance
Unrestricted Monies
Total Fund Balance
2015
30,490
1,341,884
10,636,895
11,269,611
0
0
153,625
72,593
1,076,473
(91,824)
11,897,753
12,592,264
14,500,000
14,163,641
13,773,568
13,500,000
12,933,150
12,592,264
12,500,000
11,897,753
11,500,000
2011
2012
2013
2014
2015 10
City of Troy, New York
Fiscal Year 2015
Water Fund
11
Overview Of 2015 Water Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
13,421,427
12,872,636
548,791
Expenditures
11,767,265
12,872,636
(1,105,371)
Difference
1,654,162
0
1,654,162
13,500,000
14,000,000
12,500,000
11,000,000
11,500,000
Actual
Revenues
Budget
Expenditures
8,000,000
10,500,000
Revenues
Expenditures
5,000,000
12
2011 – 2015 Water Fund Revenues
13,500,000
13,421,427
13,250,000
13,000,000
12,928,460
12,737,059
12,750,000
12,500,000
12,250,000
12,233,280
12,056,619
12,000,000
2011
2012
2013
2014
2015
13
Water Fund Revenues 2014 - 2015
Revenue Source
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Metered Sales – City Of Troy
4,561,053
4,750,000
4,560,360
34.0%
Metered Sales – Outside Communities
7,186,561
7,015,562
7,734,335
57.6%
Unmetered Sales
394,829
260,000
283,329
2.1%
Use Of Money & Property
212,441
210,000
245,584
1.8%
Permits
12,265
12,000
15,030
0.1%
Sale Of Property
89,182
51,000
47,767
0.4%
Miscellaneous
93,750
70,705
102,452
0.8%
Interfund Revenues
327,000
327,000
327,000
2.4%
State Aid
12,092
0
26,392
0.2%
Federal Aid
36,275
0
79,177
0.6%
Intrafund Transfers
3,011
0
0
0.0%
0
176,369
0
0.0%
12,928,460
12,872,636
13,421,427
Reserves Usage
Total
14
2011 – 2015 Water Fund Expenditures
17,000,000
16,898,502
15,500,000
14,240,267
14,000,000
13,165,434
12,500,000
11,928,899
11,767,265
11,000,000
2011
2012
2013
2014
2015
15
Water Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
2,969,345
3,242,523
3,017,663
25.7%
Benefits
1,709,623
1,646,764
1,580,585
13.4%
10,623
131,983
40,462
0.3%
1,933,913
2,090,807
1,731,092
14.7%
416,744
458,500
323,896
2.8%
1,579,700
1,819,492
1,610,885
13.7%
934,209
934,209
934,209
7.9%
2,472,000
1,972,000
1,972,000
16.8%
574,110
576,358
556,473
4.7%
Capital Fund Transfer
1,640,000
0
0
0.0%
Total
14,240,267
12,872,636
11,767,265
Equipment
Materials & Supplies
Utilities
Contractual Services
Services Due Other Funds
Intrafund Transfers
Debt Service
16
Historical Review Of Transfers Between Water & General Funds
Year
2010 – Services
2010 – Profits
2011 – Services
2011 – Profits
2012 – Services
2012 – Profits
2013 – Services
2013 – Profits
2014 – Services
2014 – Profits
2015 – Services
2015 – Profits
Amount Passed In
Original Budget
Actual Annual
Total Of Transfer
Difference
759,209
759,209
0
1,472,000
1,472,000
0
759,209
759,209
0
1,972,000
1,972,000
0
759,209
759,209
0
1,972,000
1,972,000
0
759,209
759,209
0
1,972,000
1,972,000
0
934,209
934,209
0
2,472,000
2,472,000
0
934,209
934,209
0
1,972,000
1,972,000
0
17
Water Fund Balance As Of December 31, 2015
2014
•
2015
Beginning Balance
4,347,204
3,035,397
Add: Revenues
12,928,460
13,421,427
Less: Operating Expenditures
(10,128,267)
(9,795,265)
Operating Surplus (Deficit)
2,800,193
3,626,162
Less: Interfund Transfers To General
(2,472,000)
(1,972,000)
Less: Transfers To Capital Fund
(1,640,000)
0
Ending Balance
3,035,397
4,689,559
The AUD calculates a surplus / deficit based on total actual revenues received during the fiscal year and does not
18
account for any budgeted use of reserves as revenues.
City of Troy, New York
Fiscal Year 2015
Sewer Fund
19
Overview Of 2015 Sewer Fund Revenues & Expenditures
2015 Actual
2015 Adjusted
Budget
Difference
Revenues
3,911,787
4,547,176
(635,389)
Expenditures
4,005,894
4,547,176
(541,282)
(94,107)
0
(94,107)
Difference
4,600,000
4,100,000
4,000,000
4,200,000
3,900,000
Actual
3,800,000
3,800,000
Budget
Revenues
Expenditures
3,700,000
3,400,000
3,600,000
3,000,000
Revenues
Expenditures
3,500,000
20
2011 – 2015 Sewer Fund Revenues
4,000,000
3,911,787
3,567,496
3,500,000
3,000,000
2,904,752
2,500,000
2,308,668
2,000,000
2,191,260
2011
2012
2013
2014
2015
21
Sewer Fund Revenues 2014 - 2015
Revenue Source
Sewer Rents – City Of Troy
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
2,929,672
4,037,500
3,607,110
92.2%
Sewer Rents – Rensselaer County
141,054
141,053
143,875
3.7%
Sewer Charges
121,333
103,100
135,422
3.5%
152
1,000
253
0.0%
Miscellaneous
23,137
27,221
25,127
0.6%
State Aid
88,037
0
0
0.0%
Federal Aid
264,111
0
0
0.0%
0
237,302
0
0.0%
3,567,496
4,547,176
3,911,787
Use Of Money & Property
Reserves Usage
Total
22
2011 – 2015 Sewer Fund Expenditures
4,250,000
4,005,894
3,750,000
3,250,000
2,870,135
2,831,468
2,750,000
2,615,635
2,518,437
2,250,000
2011
2012
2013
2014
2015
23
Sewer Fund Expenditures 2014 - 2015
Type
2014
Actual
2015 Adjusted
Budget
2015
Actual
% Of 2015
Total
Wages
873,478
921,029
880,448
22.0%
Benefits
526,056
552,504
525,191
13.1%
Equipment
23,843
23,000
21,490
0.4%
Materials & Supplies
203,591
259,032
196,323
4.9%
9,859
15,859
7,825
0.2%
Combined Sewer Overflow
471,100
1,121,270
868,886
21.7%
Contractual Services
169,984
195,793
52,074
1.3%
Intrafund Transfer - General
327,000
327,000
327,000
8.2%
Intrafund Transfer – Water
152,209
152,332
152,209
3.8%
Contingency
0
18,652
0
0.0%
Debt Service
74,348
60,705
74,448
1.9%
0
900,000
900,000
22.5%
2,831,468
4,547,176
4,005,894
Utilities
Debt Service Fund Transfer
Total
24
Sewer Fund Balance As Of December 31, 2015
2014
2015
Difference
Beginning Balance
126,236
862,264
736,028
Add (Surplus) / Less (Deficit)
736,028
(94,107)
(830,135)
Ending Balance
862,264
768,157
(94,107)
• The AUD calculates a surplus / deficit based on total actual revenues received during the
fiscal year and does not account for any budgeted use of reserves as revenues.
25
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
General Fund
As Of March 31, 2016
26
Overview Of General Fund Revenues
•
•
2016 First Quarter Total
$14,381,045
•
$14,381,045
•
2015 First Quarter Total
$13,375,680
•
2016 Budget Total
$68,120,975
•
2016 – 2015 Dollar Change
$1,005,365
•
2016 First Quarter Total
Difference Between Budget And Actual
($53,739,930)
•
2016 – 2015 Percent Change
7.52%
Percent Of Budget Received
21.11%
15,000,000
14,381,045
14,250,000
13,500,000
12,750,000
13,375,680
13,055,468
12,383,914
12,467,154
12,000,000
2012
2013
2014
2015
2016 27
Real Property Taxes
•
•
2016 First Quarter Total
$10,811,462
•
$10,811,462
•
2015 First Quarter Total
$10,084,015
•
2016 Budget Total
$20,852,598
•
2016 – 2015 Dollar Change
$727,447
•
2016 First Quarter Total
Difference Between Budget And Actual
($9,771,136)
•
2016 – 2015 Percent Change
7.21%
Percent Of Budget Received
52.53%
52.75%
52.53%
52.00%
51.75%
51.42%
51.25%
51.10%
51.02%
50.50%
2012
2013
2014
2015
2016 28
Departmental Income
•
•
2016 First Quarter Total
$1,349,753
•
$1,349,753
•
2015 First Quarter Total
$1,022,657
•
2016 Budget Total
$5,226,982
•
2016 – 2015 Dollar Change
$327,096
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,877,229)
•
2016 – 2015 Percent Change
31.98%
Percent Of Budget Received
25.82%
1,400,000
1,349,753
1,330,953
1,300,000
1,200,000
1,158,088
1,100,000
1,022,657
1,034,345
1,000,000
2012
2013
2014
2015
2016 29
What Makes Up Departmental Income?
• The following revenue sources make up Departmental Income
– General Government Support
$34,590
10.58%
$317,880
67.35%
$213,521
12.03%
$214,387
31.07%
$139,791
9.89%
$429,584
78.11%
• Treasurer's Fees
– Public Safety
• Vacant Building Fees
– Health
• Ambulance Billing
– Transportation
• Parking Garages & Lots
– Recreation
• Golf Fees
– Home & Community Services
• Recycling Charges
30
Licenses & Permits
•
•
2016 First Quarter Total
$283,298
•
$283,298
•
2015 First Quarter Total
$75,792
•
2016 Budget Total
$616,000
•
2016 – 2015 Dollar Change
$207,506
•
2016 First Quarter Total
Difference Between Budget And Actual
($332,702)
•
2016 – 2015 Percent Change
273.78%
Percent Of Budget Received
45.99%
300,000
283,298
254,369
250,000
200,000
150,000
100,000
129,845
76,936
75,792
50,000
2012
2013
2014
2015
2016 31
Fines & Forfeitures
•
•
2016 First Quarter Total
$273,182
•
$273,182
•
2015 First Quarter Total
$170,166
•
2016 Budget Total
$1,228,500
•
2016 – 2015 Dollar Change
$103,016
•
2016 First Quarter Total
Difference Between Budget And Actual
($955,018)
•
2016 – 2015 Percent Change
60.54%
Percent Of Budget Received
22.24%
300,000
288,598
273,182
250,000
214,939
200,000
150,000
174,392
170,166
2014
2015
100,000
2012
2013
2016 32
Overview Of General Fund Expenditures
•
•
2016 First Quarter Total
2016 First Quarter Total
$18,321,899
•
$18,321,899
•
2015 First Quarter Total
2016 Budget Total
$16,968,739
•
$68,120,975
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$1,353,160
•
$49,799,076
•
2016 – 2015 Percent Change
Percent Of Budget Expended
7.97%
26.90%
18,500,000
18,321,899
18,000,000
17,794,367
17,500,000
17,329,687
17,000,000
16,974,832
16,968,739
16,500,000
2012
2013
2014
2015
2016 33
Code 1 – Permanent Salaries
•
•
2016 First Quarter Total
$5,340,798
•
$5,340,798
•
2015 First Quarter Total
$5,406,435
•
2016 Budget Total
$23,391,029
•
2016 – 2015 Dollar Change
($65,637)
•
2016 First Quarter Total
Budget Dollars Remaining
$18,050,231
•
2016 – 2015 Percent Change
(1.21%)
Percent Of Budget Expended
22.83%
5,800,000
5,769,089
5,600,000
5,545,246
5,542,800
5,400,000
5,406,435
5,340,798
5,200,000
2012
2013
2014
2015
2016 34
Code 1 – Overtime
•
•
2016 First Quarter Total
$63,737
•
$63,737
•
2015 First Quarter Total
$252,211
•
2016 Budget Total
$383,500
•
2016 – 2015 Dollar Change
($188,474)
•
2016 First Quarter Total
Budget Dollars Remaining
$319,763
•
2016 – 2015 Percent Change
(74.73%)
Percent Of Budget Expended
16.62%
275,000
252,211
211,096
200,000
125,000
86,842
87,316
63,737
50,000
2012
2013
2014
2015
2016 35
Code 1 – Police Overtime
•
•
2016 First Quarter Total
$208,673
•
$208,673
•
2015 First Quarter Total
$127,742
•
2016 Budget Total
$918,635
•
2016 – 2015 Dollar Change
$80,931
•
2016 First Quarter Total
Budget Dollars Remaining
$709,962
•
2016 – 2015 Percent Change
63.36%
Percent Of Budget Expended
22.72%
220,000
208,673
180,000
175,037
157,848
140,000
127,742
105,722
100,000
2012
2013
2014
2015
2016 36
Code 1 – Fire Overtime
•
•
2016 First Quarter Total
2016 First Quarter Total
$314,368
•
$314,368
•
2015 First Quarter Total
2016 Budget Total
$145,399
•
$1,045,000
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$168,969
•
$730,632
•
2016 – 2015 Percent Change
Percent Of Budget Expended
116.21%
30.08%
325,000
225,000
125,000
25,000
2012
2013
2014
2015
2016
Minimum Manning
55,295
89,859
59,597
75,749
96,766
Regular Overtime
152,811
208,106
229,831
319,690
93,772
153,369
69,650
145,399
217,602
314,36837
Total
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$761,387
•
$761,387
•
2015 First Quarter Total
$1,105,495
•
2016 Budget Total
$2,301,141
•
2016 – 2015 Dollar Change
($344,108)
•
2016 First Quarter Total
Budget Dollars Remaining
$1,539,754
•
2016 – 2015 Percent Change
(31.13%)
Percent Of Budget Expended
33.09%
1,125,000
1,105,495
1,050,000
1,002,777
996,270
975,000
900,000
825,000
774,316
761,387
750,000
2012
2013
2014
2015
2016 38
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$2,087,911
•
$2,087,911
•
2015 First Quarter Total
$1,773,263
•
2016 Budget Total
$7,782,155
•
2016 – 2015 Dollar Change
$314,648
•
2016 First Quarter Total
Budget Dollars Remaining
$5,694,244
•
2016 – 2015 Percent Change
17.74%
Percent Of Budget Expended
26.83%
2,300,000
2,266,752
2,100,000
2,087,911
2,060,028
1,998,844
1,900,000
1,773,263
1,700,000
2012
2013
2014
2015
2016 39
Codes 6/7 – Debt Service
•
•
2016 First Quarter Total
$4,350,948
•
$4,350,948
•
2015 First Quarter Total
$4,261,333
•
2016 Budget Total
$6,742,802
•
2016 – 2015 Dollar Change
$89,615
•
2016 First Quarter Total
Budget Dollars Remaining
$2,391,854
•
2016 – 2015 Percent Change
2.10%
Percent Of Budget Expended
64.53%
4,400,000
4,261,333
4,350,948
4,200,000
4,064,183
4,000,000
3,909,138
3,800,000
3,753,612
3,600,000
2012
2013
2014
2015
2016 40
How Have Pension Costs Been Budgeted
• Until the 2015 budget pension costs were budgeted based on the New York
State fiscal year of April 1 thru March 31 of the subsequent year
• In 2015 the City budgeted for a time period of April 1, 2015 thru December 31,
2015 to allow for a one time budgetary savings which was reviewed and
approved by the New York State Comptroller’s Office, the City’s independent
auditing firm and the then Troy City Council
• In 2016 the City budgeted for pension costs covering a time period of January 1,
2016 thru December 31, 2016
2013 Budget = 04/01/2013 – 03/31/2014
2014 Budget = 04/01/2014 – 03/31/2015
2015 Budget = 04/01/2015 – 12/31/2015
2016 Budget = 01/01/2016 – 12/31/2016
41
Components Of The City Of Troy’s Retirement Bill
• Current year expense
• Expense for employees from January 1, 2016 thru December 31, 2016
• Current year amortization
• Amount of current year expense being amortized over future years for
payment
• Prior year payback
• Payback of prior year of amortized costs
• Net payment
• Current year expense – Current year amortization + Prior year payback
42
Code 8 – Pension
• The total Pension cost in the first quarter of 2016 was $1,235,894
• First year of pension expenditures being recorded during the first quarter
of the fiscal year
– Due to the budgeting practice change made during 2015
• City records the actual pension expenditures at the time the bill is
received
• Amounts recorded in 2016 represent the payment made in December
2015 for the time period of January 1, 2016 thru March 31, 2016
• By prepaying the first quarter pension expenditures it allowed for the City
to receive a discount
43
Code 8 – Health Insurance
•
•
2016 First Quarter Total
$2,906,399
•
$2,906,399
•
2015 First Quarter Total
$2,730,485
•
2016 Budget Total
$11,789,458
•
2016 – 2015 Dollar Change
$175,914
•
2016 First Quarter Total
Budget Dollars Remaining
$8,883,059
•
2016 – 2015 Percent Change
6.44%
Percent Of Budget Expended
24.65%
3,000,000
2,900,424
2,906,399
2,850,000
2,730,485
2,700,000
2,567,432
2,550,000
2,452,726
2,400,000
2012
2013
2014
2015
2016 44
Code 8 – Dental Insurance
•
•
2016 First Quarter Total
$147,235
•
$147,235
•
2015 First Quarter Total
$159,365
•
2016 Budget Total
$604,550
•
2016 – 2015 Dollar Change
($12,130)
•
2016 First Quarter Total
Budget Dollars Remaining
$457,315
•
2016 – 2015 Percent Change
(7.61%)
Percent Of Budget Expended
24.35%
165,000
163,671
160,424
160,000
159,365
155,000
150,000
147,235
146,531
145,000
2012
2013
2014
2015
2016 45
Areas To Focus On Going Forward In Fiscal Year
•
Sale Of Property
– One Monument Square $650,000
– Scolite
$500,000
•
Public Safety Overtime
– Historical trends show it rising as the year progresses
•
Sales Tax
•
Ambulance Billing
– Current year amounts trending shows will reach budgeted revenue of $1,700,000
•
Parking Tickets
– Amnesty Program
– Increased Collections
•
Franchise settlement
– Expiration of Time Warner contract with the City Of Troy
46
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
Water Fund
As Of March 31, 2016
47
Overview Of Water Fund Revenues
•
•
2016 First Quarter Total
$1,758,309
•
$1,758,309
•
2015 First Quarter Total
$2,229,619
•
2016 Budget Total
$12,904,325
•
2016 – 2015 Dollar Change
($471,310)
•
2016 First Quarter Total
Difference Between Budget And Actual
($11,146,016)
•
2016 – 2015 Percent Change
(21.14%)
Percent Of Budget Received
13.63%
2,750,000
2,722,191
2,550,000
2,350,000
2,229,619
2,150,000
2,107,546
1,950,000
1,786,774
1,750,000
2012
2013
2014
1,758,309
2015
2016 48
City Water Sales
•
•
2016 First Quarter Total
$939,936
•
$939,936
•
2015 First Quarter Total
$1,164,368
•
2016 Budget Total
$4,770,000
•
2016 – 2015 Dollar Change
($224,432)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,830,064)
•
2016 – 2015 Percent Change
(19.27%)
Percent Of Budget Received
19.71%
1,200,000
1,173,587
1,164,368
1,100,000
1,000,000
939,936
900,000
914,591
843,685
800,000
2012
2013
2014
2015
2016 49
Outside Community Water Sales
•
•
2016 First Quarter Total
$506,494
•
$506.494
•
2015 First Quarter Total
$606,730
•
2016 Budget Total
$7,122,737
•
2016 – 2015 Dollar Change
($100,236)
•
2016 First Quarter Total
Difference Between Budget And Actual
($6,616,243)
•
2016 – 2015 Percent Change
(16.52%)
Percent Of Budget Received
7.11%
620,000
606,730
570,000
520,000
506,494
489,836
470,000
469,226
433,342
420,000
2012
2013
2014
2015
2016 50
Overview Of Water Fund Expenditures
•
•
2016 First Quarter Total
$2,869,236
•
$2,869,236
•
2015 First Quarter Total
$3,060,312
•
2016 Budget Total
$12,904,325
•
2016 – 2015 Dollar Change
($191,076)
•
2016 First Quarter Total
Budget Dollars Remaining
$10,035,089
•
2016 – 2015 Percent Change
(6.24%)
Percent Of Budget Expended
22.23%
3,500,000
3,470,329
3,293,061
3,300,000
3,100,000
3,060,312
2,991,299
2,900,000
2,869,236
2,700,000
2012
2013
2014
2015
2016 51
Code 1 – Overtime
•
•
2016 First Quarter Total
$64,446
•
$64,446
•
2015 First Quarter Total
$49,117
•
2016 Budget Total
$185,500
•
2016 – 2015 Dollar Change
$15,329
•
2016 First Quarter Total
Budget Dollars Remaining
$121,054
•
2016 – 2015 Percent Change
31.21%
Percent Of Budget Expended
34.74%
70,000
66,205
65,000
64,446
60,000
55,000
49,117
50,000
47,703
45,000
40,000
40,104
35,000
2012
2013
2014
2015
2016 52
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$861,443
•
$861,443
•
2015 First Quarter Total
$1,147,593
•
2016 Budget Total
$1,972,426
•
2016 – 2015 Dollar Change
($286,150)
•
2016 First Quarter Total
Budget Dollars Remaining
$1,110,983
•
2016 – 2015 Percent Change
(24.93%)
Percent Of Budget Expended
43.67%
1,200,000
1,147,593
1,093,740
1,100,000
1,000,000
970,220
900,000
887,698
861,443
800,000
2012
2013
2014
2015
2016 53
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$845,548
•
$845,548
•
2015 First Quarter Total
$829,378
•
2016 Budget Total
$5,378,158
•
2016 – 2015 Dollar Change
$16,170
•
2016 First Quarter Total
Budget Dollars Remaining
$4,532,610
•
2016 – 2015 Percent Change
1.95%
Percent Of Budget Expended
15.72%
940,000
934,741
910,000
902,186
880,000
850,000
845,548
832,767
829,378
820,000
2012
2013
2014
2015
2016 54
City of Troy, New York
Fiscal Year 2016 – First Quarter
Quarterly Financial Report
Sewer Fund
As Of March 31, 2016
55
Overview Of Sewer Fund Revenues
•
•
2016 First Quarter Total
$972,117
•
$972,117
•
2015 First Quarter Total
$1,301,842
•
2016 Budget Total
$4,472,852
•
2016 – 2015 Dollar Change
($329,725)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,500,735)
•
2016 – 2015 Percent Change
(25.33%)
Percent Of Budget Received
21.73%
1,400,000
1,301,842
1,200,000
1,000,000
972,117
800,000
600,000
623,831
533,568
457,644
400,000
2012
2013
2014
2015
2016 56
Sewer Rents
•
•
2016 First Quarter Total
$786,344
•
$786,344
•
2015 First Quarter Total
$957,387
•
2016 Budget Total
$4,201,252
•
2016 – 2015 Dollar Change
($171,043)
•
2016 First Quarter Total
Difference Between Budget And Actual
($3,414,098)
•
2016 – 2015 Percent Change
(17.87%)
Percent Of Budget Received
18.72%
1,000,000
957,387
850,000
786,344
700,000
584,628
550,000
507,602
431,805
400,000
2012
2013
2014
2015
2016 57
Overview Of Sewer Fund Expenditures
•
•
2016 First Quarter Total
$869,326
•
$869,326
•
2015 First Quarter Total
$858,086
•
2016 Budget Total
$4,472,852
•
2016 – 2015 Dollar Change
$11,240
•
2016 First Quarter Total
Budget Dollars Remaining
$3,603,526
•
2016 – 2015 Percent Change
1.31%
Percent Of Budget Expended
19.44%
1,400,000
1,311,947
1,250,000
1,196,378
1,100,000
950,000
948,985
858,086
800,000
2012
2013
2014
2015
869,326
2016 58
Code 1 – Overtime
•
•
2016 First Quarter Total
$21,115
•
$21,115
•
2015 First Quarter Total
$9,522
•
2016 Budget Total
$85,000
•
2016 – 2015 Dollar Change
$11,593
•
2016 First Quarter Total
Budget Dollars Remaining
$63,885
•
2016 – 2015 Percent Change
121.76%
Percent Of Budget Expended
24.84%
50,000
43,614
40,000
30,000
21,115
20,000
10,000
10,277
10,416
9,522
2014
2015
2012
2013
2016 59
Code 3 – Materials & Supplies
•
•
2016 First Quarter Total
$82,404
•
$82,404
•
2015 First Quarter Total
$73,604
•
2016 Budget Total
$260,194
•
2016 – 2015 Dollar Change
$8,800
•
2016 First Quarter Total
Budget Dollars Remaining
$177,790
•
2016 – 2015 Percent Change
11.96%
Percent Of Budget Expended
31.67%
140,000
136,376
121,983
120,000
100,000
82,404
90,863
80,000
73,604
60,000
2012
2013
2014
2015
2016 60
Code 4 – Contractual Services
•
•
2016 First Quarter Total
$482,499
•
$482,499
•
2015 First Quarter Total
$504,092
•
•
2016 – 2015 Dollar Change
Budget Dollars Remaining
$650,231
•
2016 – 2015 Percent Change
(4.28%)
900,000
2016 Budget Total
$1,132,730
($21,593)
•
2016 First Quarter Total
Percent Of Budget Expended
42.60%
886,025
858,434
800,000
700,000
600,000
525,637
500,000
504,092
482,499
400,000
2012
2013
2014
2015
2016 61
City of Troy, New York
62
