FY 2018/19 Financial Update & Statement of Net Position November 25, , 2019
General Fund Operating Sources Fiscal Year-End 2018/19 (in millions: rounding differences may occur) 2
General Fund Sales Tax Fiscal Year-End 2018/19 (in millions: rounding differences may occur) 3
General Fund Operating Uses Fiscal Year-End 2018/19 (in millions: rounding differences may occur) 4
General Fund Sources Over/(Under) Uses Fiscal Year-End 2018/19 (in millions: rounding differences may occur) FY 2018/19 FY 2018/19 Variance Variance FY FY 2018/19 2018/19 Foreca Forecast st Actuals Actuals Fav/(Unfav) Fav/(Unfav) % Budget* Budget* Sources Sources $310.4 $315.2 $4.8 2% Uses Uses $297.6 $294.3 $3.4 1% $12.8 $20.9 $8.2 Change Change in F in Fund Balance und Balance $- Ending Undesignated, Ending Undesigna ted, $0.5 $0.5 $0.5 $0.5 Unreserved Unreserved Fund Bala Fund Balance nce * Forecast as of FY 2019/20 Tentative Budget . 5
FY 2019/20 General Fund Undesignated, Unreserved Fund Balance (in millions: rounding differences may occur) FY 2019/20 FY 2019/20 Adopted Forecast Operating Contingency $3.0 $3.0 Operating Reserve $28.9 $28.9 PSPRS Pension Liabilities $54.7 $48.7 Commitment to Nationwide $0.0 $14.3 Undesignated, Unreserved Fund Balance $0.5 $0.5 Total $87.1 $95.4 $60 $60 $50 $50 $40 $40 $30 $30 $20 $20 $10 $10 $0 $0 Ope Operating rating Ope Operating rating PSPRS Pensi PSPRS Pension on Commi Commitment to tment to Undesign Un designated, ated, Contingen Cont ingency cy Reserve Reserve Liabilities Liabil ities Nation Nationwid wide Un Unreserv reserved ed Fun Fund Balan d Balance ce 6 FY 2019/20 Adopted FY 2019/20 Forecast
FY 2018/19 Financial Highlights Statement of Net Position (in millions: rounding differences may occur) Assets FY 2018/19 FY 2017/18 Change Cash and Cash Equivalents $651.6 $629.9 $21.7 Receivables 113.3 111.7 1.6 Other 194.8 203.0 (8.2) Capital Assets (Net of Depreciation) Governmental Activities 4,378.3 4,370.9 7.4 Equity in Joint Venture 100.3 96.5 3.8 Other Enterprise Activities 1,493.6 1,494.1 (0.5) Total Assets $6,931.9 $6,906.1 $25.8 Liabilities Accruals: Payables, Payroll and Benefits (153.9) (145.9) (8.0) Accrued Compensated Absences (30.3) (29.3) (1.0) Other Liabilities (98.8) (92.4) (6.4) Net Pension Liabilities (327.3) (342.6) 15.3 Bonds, Loans and Other Payables (1,102.8) (1,197.2) 94.4 Total Liabilities $(1,713.1) $(1,807.4) $94.3 7 NET POSITION $5,218.8 $5,098.7 $120.1 7
FY 2018/19 Financial Highlights Cash and Equivalent Balances $651.6 million (in millions: rounding differences may occur) Airpo Airport rt CI CIP Water CI Water CIP Sewer CIP Sewer C IP $0.3 $0.3 $134. $134.8 8 $46. $46.0 0 Solid So lid Waste C Waste CIP IP Fleet CIP Fleet C IP $1.4 $1.4 Gene Ge neral, ral, GO, GO, Preserve Preserve, , MPC MPC, , $3.3 $3.3 Transportat Transportation ion CI CIP Water Water $95. $95.5 5 $4.3 $4.3 Sewer Sewer GF Reserve/Continge GF Reserve /Contingency ncy $5.6 $5. 6 $27.7 $27 .7 So Solid lid Waste Waste Airpo Airport rt $6.3 $6.3 $7.6 $7. 6 GF Undesignated, GF Un designated, Un Unreserved reserved $0.5 $0.5 Airpo Airport rt De Debt bt $1.2 $1.2 De Debt Service bt Service GF PSPRS GF PSPRS Pen Pensio sion n $85. $85.0 0 Liabil Liabilities ities $58.0 $58. 0 GF Accrued GF Accrued Liabil Liabilities ities Water and Sewer Water and Sewer Internal Service Inte rnal Service $1.4 $1.4 Debt De bt Special Special Rev Reven enue ue $50.7 $50. 7 $47. $47.7 7 $74. $74.3 3 8
FY 2018/19 Financial Highlights Receivables and Other Assets (in millions: rounding differences may occur) $113.3 Receivables • $35.5 Intergovernmental and Grants • $30.3 Property and Other Local Taxes • $27.9 Interest, Fines and Other • $19.6 Charges for Services $194.8 $194 .8 Other Other • $71.1 Pensions • $59.7 Service Concession Arrangement • $32.8 Deferred Amounts on Refundings • $30.0 Supplies and Prepaid Items • $1.0 Customer Deposits • $0.2 OPEB-Related Amounts 9
FY 2018/19 Financial Highlights Net Capital Assets by Type – Government $4,378.3 million (in millions: rounding differences may occur) Streets & Storm Streets & Storm Pr Preserv eserve e La Land nd Drains Drains $960. $960.1 1 $678. $678.6 6 Buildings Buil dings & L & Land and Impro Improvements vements $357.0 $357. 0 Mac Machinery hinery & & Equipment Equipme nt $37.4 $37.4 Non-Preserve Non Preserve Land Land Mot Motor or Vehicles Vehicles & & $2,23 $2,234.4 4.4 Ma Maintena intenance nce by by Fleet Flee Construction Construct ion in in $45.3 $45.3 Progress Pro gress $65.5 $65.5 10
FY 2018/19 Financial Highlights Net Capital Assets by Type – Enterprise $1,491.0 million (in millions: rounding differences may occur) Buildings and Improvements Machinery and Sewer System $57.6 Equipment $392.3 $3.6 Motor Vehicles Computer $0.4 Equipment $0.8 Construction in Progress $51.8 Land Equity in Joint $50.4 Venture $92.4 Water Rights Water System $87.5 $754.2 11
12 FY 2018/19 Financial Highlights Annual Depreciation by Type – Government $85.4 million (in millions: rounding differences may occur) Buildings and Improvements $20.8 Streets and Storm Drains Motor Vehicles $51.1 $7.1 Machinery and Equipment $6.4 12
FY 2018/19 Financial Highlights Annual Depreciation by Type – Enterprise $53.3 million (in millions: rounding differences may occur) Sewer System $17.2 Buildings and Water System Improvements $33.6 $1.7 Machinery and Equipment $0.8 13
14 FY 2018/19 Financial Highlights Accumulated Depreciation by Type – Government $1,597.5 million occur) (in millions: rounding differences may occur) Buildings and Improvements $376.2 Streets and Storm Motor Vehicles Drains $40.7 $1,133.6 Machinery and Equipment $47.0 14
FY 2018/19 Financial Highlights Accumulated Depreciation by Type – Enterprise $801.8 million (in millions: rounding differences may occur) (in millions: rounding differences may occur) Sewer System $253.8 Buildings and Improvements $13.2 Machinery and Equipment $4.0 Motor Computer Water System Vehicles Equipment $529.7 $0.7 $0.4 15
16 FY 2018/19 Financial Highlights Acquisitions by Type – Government $133.0 million (in millions: rounding differences may occur) Motor Vehicles $7.3 Construction in Machinery & Progress Equipment $65.5 $6.3 Streets & Storm Drains $27.1 Non-Preserve Land Buildings & Land $17.0 Improvements $9.8 16
FY 2018/19 Financial Highlights Acquisitions by Type – Enterprise $135.7 million (in millions: rounding differences may occur) Sewer System $11.1 Water System $35.3 Buildings and Improvements $34.3 Machinery and Construction in Equipment Progress $0.7 $53.7 Computer Equipment $0.6 17
FY 2018/19 Financial Highlights Accruals and Other Liabilities ( in millions: rounding differences may occur) Accruals: Payables, Payroll and Benefits $153.9 • $147.1 - Accounts and Interest Payable • $6.8 - Payroll and Benefits $30.3 Accrued Compensated Absences Other Liabilities $98.8 Net Pension Liabilities $327.3 18 18
19 FY 2018/19 Financial Highlights Bonds, Loans and Other Payables $1,102.8 million (in millions: rounding differences may occur) (in millions: rounding differences may occur) Wat Water/Sewer er/Sewer & & Preserve Preserve Airpo Airport rt $316. $316.6 6 $335. $335.5 5 COPs COP $2.5 $2.5 Other Payables Other Paya bles $24.9 $24.9 Community Commu nity Fac Facility ility Districts Districts Gene Genera ral l $16.7 $16.7 Obligation Obliga tion Excise Tax Excise Tax 19 $213.5 $213. 5 $193.1 $193. 1
FY 2018/19 Financial Highlights ‘Off - Balance Sheet’ Liabilities Compensated Implicit Absences Subsidies Liability to be earned by Liability for health employees during future insurance at subsidized service rates for Public Safety “medically - retired” employees 20
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