Statement of Net Position November 25, , 2019 General Fund - - PowerPoint PPT Presentation

FY 2018/19 Financial Update & Statement of Net Position

November 25, , 2019

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General Fund Operating Sources Fiscal Year-End 2018/19

(in millions: rounding differences may occur)

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General Fund Sales Tax Fiscal Year-End 2018/19

(in millions: rounding differences may occur)

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General Fund Operating Uses Fiscal Year-End 2018/19

(in millions: rounding differences may occur)

FY FY 2018/19 2018/19 Foreca Forecast st Budget* Budget* FY FY 2018/19 2018/19 Actuals Actuals Variance Variance Fav/(Unfav) Fav/(Unfav) % Sources Sources $310.4 $315.2 $4.8 2% Uses Uses $297.6 $294.3 $3.4 1% Change Change in F in Fund Balance und Balance $12.8 $20.9 $8.2 Ending Undesigna Ending Undesignated, ted, Unreserved Unreserved Fund Bala Fund Balance nce $0.5 $0.5 $0.5 $0.5 $-

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General Fund Sources Over/(Under) Uses Fiscal Year-End 2018/19

(in millions: rounding differences may occur)

* Forecast as of FY 2019/20 Tentative Budget.

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FY 2019/20 General Fund Undesignated, Unreserved Fund Balance

(in millions: rounding differences may occur)

FY 2019/20 Adopted FY 2019/20 Forecast Operating Contingency $3.0 $3.0 Operating Reserve $28.9 $28.9 PSPRS Pension Liabilities $54.7 $48.7 Commitment to Nationwide Undesignated, Unreserved Fund Balance $0.0 $14.3 $0.5 $0.5 Total $87.1 $95.4 $0 $0 $10 $10 $20 $20 $30 $30 $40 $40 $50 $50 $60 $60 Ope Operating rating Cont Contingen ingency cy Ope Operating rating Reserve Reserve PSPRS PSPRS Pensi Pension

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Liabil Liabilities ities Commi Commitment to tment to Nation Nationwid wide Un Undesign designated, ated, Un Unreserv reserved ed Fun Fund Balan d Balance ce

FY 2019/20 Adopted FY 2019/20 Forecast

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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 NET POSITION $5,218.8 $5,098.7 $120.1

FY 2018/19 Financial Highlights Statement of Net Position

(in millions: rounding differences may occur)

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FY 2018/19 Financial Highlights Cash and Equivalent Balances $651.6 million

(in millions: rounding differences may occur)

Airpo Airport rt $7. $7.6 6 Airpo Airport rt De Debt bt $1.2 $1.2 De Debt Service bt Service $85. $85.0 Water Water and Sewer and Sewer De Debt bt $47. $47.7 7 Inte Internal Service rnal Service $50. $50.7 7 Special Special Rev Reven enue ue $74. $74.3 3 GF Accrued GF Accrued Liabil Liabilities ities $1.4 $1.4 GF PSPRS GF PSPRS Pen Pensio sion n Liabil Liabilities ities $58. $58.0 GF Un GF Undesignated, designated, Un Unreserved reserved $0.5 $0.5 GF Reserve GF Reserve/Continge /Contingency ncy $27 $27.7 .7 Ge Gene neral, ral, GO, GO, Preserve Preserve, , MPC MPC, , Transportat Transportation ion CI CIP $95. $95.5 5 Airpo Airport rt CI CIP $0.3 $0.3 Water Water CI CIP $134. $134.8 8 Sewer C Sewer CIP IP $46. $46.0 So Solid lid Waste C Waste CIP IP $1.4 $1.4 Fleet C Fleet CIP IP $3.3 $3.3 Water Water $4.3 $4.3 Sewer Sewer $5. $5.6 6 So Solid lid Waste Waste $6.3 $6.3

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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 $194.8 .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

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FY 2018/19 Financial Highlights Net Capital Assets by Type – Government $4,378.3 million

(in millions: rounding differences may occur)

Construct Construction ion in in Pro Progress gress $65.5 $65.5 Mot Motor

• r Vehicles

Vehicles & & Ma Maintena intenance nce by by Flee Fleet $45.3 $45.3 Mac Machinery hinery & & Equipme Equipment nt $37.4 $37.4 Buil Buildings dings & L & Land and Impro Improvements vements $357. $357.0 Streets Streets & Storm & Storm Drains Drains $678. $678.6 6 Pr Preserv eserve e La Land nd $960. $960.1 1 Non Non-Preserve Preserve Land Land $2,23 $2,234.4 4.4

FY 2018/19 Financial Highlights Net Capital Assets by Type – Enterprise $1,491.0 million

(in millions: rounding differences may occur)

Sewer System $392.3 Buildings and Improvements $57.6 Machinery and Equipment $3.6 Motor Vehicles $0.4 Computer Equipment $0.8 Construction in Progress $51.8 Equity in Joint Venture $92.4 Land $50.4 Water Rights $87.5 Water System $754.2

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FY 2018/19 Financial Highlights Annual Depreciation by Type – Government $85.4 million

(in millions: rounding differences may occur)

Streets and Storm Drains $51.1 Buildings and Improvements $20.8 Motor Vehicles $7.1 Machinery and Equipment $6.4

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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 Improvements $1.7 Machinery and Equipment $0.8 Water System $33.6

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• ccur)

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FY 2018/19 Financial Highlights Accumulated Depreciation by Type – Government $1,597.5 million

(in millions: rounding differences may occur)

Buildings and Improvements $376.2 Motor Vehicles $40.7 Machinery and Equipment $47.0 Streets and Storm Drains $1,133.6

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(in millions: rounding differences may occur)

FY 2018/19 Financial Highlights Accumulated Depreciation by Type – Enterprise $801.8 million

(in millions: rounding differences may occur)

Sewer System $253.8 Buildings and Improvements $13.2 Machinery and Equipment $4.0 Motor Vehicles $0.7 Computer Equipment $0.4 Water System $529.7

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FY 2018/19 Financial Highlights Acquisitions by Type –Government $133.0 million

(in millions: rounding differences may occur)

Non-Preserve Land $17.0 Construction in Progress $65.5 Motor Vehicles $7.3 Machinery & Equipment $6.3 Streets & Storm Drains $27.1 Buildings & Land Improvements $9.8

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FY 2018/19 Financial Highlights Acquisitions by Type – Enterprise $135.7 million

(in millions: rounding differences may occur)

Sewer System $11.1 Buildings and Improvements $34.3 Machinery and Equipment $0.7 Computer Equipment $0.6 Construction in Progress $53.7 Water System $35.3

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FY 2018/19 Financial Highlights Accruals and Other Liabilities

(in millions: rounding differences may occur)

Accruals: Payables, Payroll and Benefits

• $147.1 - Accounts and Interest Payable
• $6.8 - Payroll and Benefits

Accrued Compensated Absences Other Liabilities Net Pension Liabilities $153.9 $30.3 $98.8 $327.3

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(in millions: rounding differences may occur) 19

FY 2018/19 Financial Highlights Bonds, Loans and Other Payables $1,102.8 million

(in millions: rounding differences may occur)

Wat Water/Sewer er/Sewer & & Airpo Airport rt $335. $335.5 5 Gene Genera ral l Obliga Obligation tion $213. $213.5 5 Excise Tax Excise Tax $193. $193.1 1 Commu Community nity Fac Facility ility Districts Districts $16.7 $16.7 Other Paya Other Payables bles $24.9 $24.9 COP COPs $2.5 $2.5 Preserve Preserve $316. $316.6 6

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FY 2018/19 Financial Highlights ‘Off-Balance Sheet’ Liabilities

Implicit Subsidies

Liability for health insurance at subsidized rates for Public Safety “medically-retired” employees

Compensated Absences

Liability to be earned by employees during future service