COUNCIL COMMUNICATION Meeting Date:

April 14, 2020

Agenda Item:

9A

Agenda Location:

Staff Reports

Goal(s):

Legal Review:

N/A

___ 1st Reading ___ 2nd Reading

Subject: Monthly Financial Reports for January and February 2020.

Recommended by: Kim Newhart KN Approved by: Kevin S. Woods KW Ordinance previously introduced by:

Presenter(s): Kim Newhart, Interim Finance Director Erika Senna, Budget Manager

SYNOPSIS: The financial reports for the one-month period ending January 31, 2020 and the two-month period ending February 29, 2020 are attached. RECOMMENDATION: For informational purposes only. BUDGET/STAFF IMPLICATIONS: None. ALTERNATIVES: For informational purposes only.

BACKGROUND (ANALYSIS/NEXT STEPS/HISTORY): (includes previous City Council action) None.

Monthly Financial ReportJanuary 2020

2

•Provides core City services including Public Safety, Fire and Emergency, Street Maintenance, Parks and Recreation, Building Permits, and Planning. 

GENERAL & GOVERNMENTAL CAPITAL FUND

2019 2020 2020 Budget (1)

Revenues

    Sales, Use & Other Taxes 1,128,782$        874,961$            109,170,517$      

    Property Tax ‐                       ‐                       16,913,072          

    Licensing & Permits 440,776              530,674              5,653,954             

    Grants & Intergovernmental 464,721              15,543                13,133,752          

    Charges for Services 1,099,614          1,263,456          18,764,834          

    Other Revenues 445,494              370,599              11,676,751          

Total Revenues 3,579,387          3,055,233          175,312,880        

Expenses

    General Government 2,787,039          2,329,937          39,495,601          

    Police  1,175,771          2,114,918          41,448,462          

    Fire and Ambulance 693,599              926,895              20,693,005          

    City Development 207,343              480,565              8,809,099             

    Streets, Traffic and Engineering 208,264              404,735              12,050,197          

    Community Services 338,684              877,147              25,377,096          

    Capital Outlay (1) 3,442                   ‐                       29,274,325          

    Debt ‐                       ‐                       5,824,022             

    Contractual Obligations ‐                       ‐                       1,350,000             

Total Expenses 5,414,141          7,134,197          184,321,807        

Other Sources

Net Transfers In 941,661              251,370              7,137,477             

Total Other Sources 941,661              251,370              7,137,477             

Change in Fund Balance (893,093)$          (3,827,594)$       (1,871,450)$         

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending January 2019 and 2020 

Governmental Funds

3

•Provides core City services including Public Safety, Fire and Emergency, Street Maintenance, Parks and Recreation, Building Permits, and Planning. 

GENERAL & GOVERNMENTAL CAPITAL FUND

Governmental Highlights and AnalysisNote (1): The City adopts a multi‐year appropriation for certain capital projectsidentified as long‐term in nature. Pursuant to that appropriation, unexpended fundswill not automatically lapse at year end, but remain appropriated until projectcompletion. The Capital Outlay Budget above does not include the carryover from2019 as that number is not yet available and will be added when the February 2020report is prepared.

The assessed property valuation of the General Fund increased 22.4% or $300,681,620over 2018, generating an additional $3,050,092 of property tax revenue from this area.

The 2020 Budget funds a variety of capital projects, including: the Police TrainingFacility, a new fire engine ladder truck, replacing the York Street Bridge over Big DryCreek, and the N‐Line station art.

The Operating Budget also includes some new initiatives, including: the first full year ofoperations at Trail Winds Recreation Center, the new Thornton Active Adult Centeropening in the third quarter of 2020, a juvenile probation program, 2020 censusoutreach, the new Fire Station No. 1 opening in December 2020, and conversion of aportion of police fleet to hybrid vehicles.

4

• The Adams County (ADCO) Road & Bridge and ADCOOpen Space, Parks, Open Space, Parks and OpenSpace, Conservation Trust, Cash‐In‐Lieu, and ThorntonArts, Sciences and Humanities Council, Inc. (TASHCO),136th Ave. General Improvement District (GID), E‐911,and Risk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisNote (1): See page 3

ADCO Road & BridgeThe 2020 Budget covers 50% of the City’s Street Rehabilitation Program. The other50% is covered by the Governmental Capital Fund.

ADCO Open SpaceThe 2020 Budget includes landscape and playground rehabilitation as well asfunding for art at parks and recreation facilities.

Conservation TrustThe 2020 Budget covers a variety of maintenance and repairs to City recreationsites.

2019 2020 2020 Budget (1)

ADCO Road & Bridge

     Total Revenues 12,363                16,749                  3,469,000                  

     Total Expenses ‐                       ‐                         2,823,710                  

     Change in Fund Balance 12,363$              16,749$                645,290$                    

ADCO Open Space

     Total Revenues 17,093                10,051                  3,045,448                  

     Total Expenses 2,906                   ‐                         906,000                      

     Change in Fund Balance 14,187$              10,051$                2,139,448$                

Conservation Trust

     Total Revenues 2,084                   5,976                     1,642,000                  

     Total Expenses ‐                       112,205                1,197,674                  

     Change in Fund Balance 2,084$                (106,229)$            444,326$                    

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending January 2019 and 2020 

Special Revenue & Other Funds

5

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisNote (1): See page 3

Open SpaceThe 2020 Budget includes appropriation for trail connections throughout the City aswell as improvements to the Skylake Open Lands.

Parks & Open SpaceThe 2020 Budget includes appropriation for flush toilets at Community Park andreplacing the gym floor at the Margaret W. Carpenter Recreation Center.

6

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisNote (1): See page 3

136TH GIDThe assessed property valuation of 136th GID increased 80.4% or $3,381,210 over2018, generating an additional $43,239 of property tax revenue from this area. The2020 Budget includes a transfer to the General Fund.

E‐911The 2020 Budget includes a transfer to the General Fund to help cover the costs ofthe emergency communications center.

RiskThe Risk Fund provides insurance coverage and risk management support to alldepartments within the City. Revenues for Risk Management come from chargesfor service to the City’s operating divisions.

2019 2020 2020 Budget (1)

136th GID

     Total Revenues 87                         725                        100,000                      

     Total Expenses ‐                       ‐                         100,000                      

     Change in Fund Balance 87$                      725$                      ‐$                             

E‐911

     Total Revenues 204                      4,429                     1,100,000                  

     Total Expenses ‐                       ‐                         1,100,000                  

     Change in Fund Balance 204$                    4,429$                  ‐$                             

Risk

     Total Revenues 1,369,536          494,912                6,229,133                  

     Total Expenses 1,277,339          390,136                6,181,585                  

     Change in Fund Balance 92,197$              104,776$              47,548$                      

For Month Ending January 2019 and 2020 

Special Revenue & Other Funds

Statement of Revenues, Expenses, and Changes in Fund Balance

7

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisNote (1): See page 3

TASHCOThe 2020 Budget includes the planned spending down of fund balance on public artat the 128th Avenue roundabout.

Cash‐In‐LieuThe 2020 Budget includes funding for a conceptual plan for Lambertson Farm andsupplemental funding for trail connections, which are primarily funded out of theOpen Space Fund.

8

•An Urban Renewal Authority established to finance the design and construction of various improvements within the Thornton Development Authority (TDA) boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA S. Highlights and AnalysisNote (1): See page 3

The assessed property valuation of TDA South increased 52% or $32,499,340 over2018, generating an additional $3,390,056 of property tax revenue from this area.

The 2020 Budget includes a TDA South revitalization plan as well as the SouthThornton Attraction and Revitalization Grant.

9

•An Urban Renewal Authority established to finance the design and construction of various improvements within the TDA’s boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA N. Highlights and AnalysisNote (1): See page 3

The 2020 Budget includes appropriation for a variety of costs, including: debtpayments for infrastructure in TDA North, a contribution towards the Big Dry CreekSewer Project, the Bull Canal relocation at 152nd Avenue, and incentive payments.

The assessed property valuation of TDA North increased 34.1% or $1,829,530 over2018, generating an additional $180,874 of property tax revenue from this area.

10

•An Urban Renewal Authority established to finance the design and construction of various improvements within the TDA’s boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA 144th Highlights and AnalysisNote (1): See page 3

The majority of the 2020 Budget covers debt payments for infrastructure built in TDA144th.

The assessed property valuation of TDA 144th increased 13.5% or $1,868,180 over2018, generating an additional $146,210 of property tax revenue from this area.

11

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Water Highlights and AnalysisNote (1): See page 3

In January 2020, water rates increased by 3%. This increase ensures there will beadequate funding to cover ongoing operations of the water utility.

In 2020, the City funded Advanced Metering Infrastructure (AMI), which will provideenhanced meter reading, billing, and water conservation. The Thornton WaterProject is also ongoing, with construction on a segment of pipe beginning in 2020and several sections of pipe design continuing.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services 694,759$            805,778$            50,803,760$        

Total Operating Revenues 694,759              805,778              50,803,760           

Operating Expenses 2,207,092          1,360,355          30,001,019           

Operating Income (Loss) (1,512,333)         (554,577)             20,802,741           

Non‐operating Revenues (Expenses)

    Capital Outlay (432,033)             (1,307,719)         (46,363,486)        

    Debt (1,137,862)         (1,080,662)         (2,859,244)            

    Tap Fees & Contributed 1,765,648          1,020,874          21,114,321           

    Lease Revenue 37,035                557,122              3,908,648             

    Miscellaneous Revenue 325,352              3,015,384          6,486,985             

Total Non‐operating Revenues (Expenses) 558,140              2,204,998          (17,712,776)         

Change in Net Position  (954,193)$          1,650,421$        3,089,965$           

Water Fund

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending January 2019 and 2020 

12

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Sewer Highlights and AnalysisNote (1): See page 3

Sewer rates increased 1.8% in January 2020 as a result of an increase in fees chargedby the Metro Wastewater Reclamation District for treatment of the City’s sewageflows.

The largest driver of the 2020 Budget is the payment to the Metro WastewaterReclamation District for treating the City’s sewage flows.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services 243,602$            263,965$            15,580,000$        

Total Operating Revenues 243,602              263,965              15,580,000           

Operating Expenses 490,944              221,607              14,668,600           

Operating Income (Loss) (247,342)             42,358                911,400                 

Non‐operating Revenues (Expenses)

    Capital Outlay (2,800)                 ‐                       (4,557,743)            

    Tap Fees & Contributed 215,596              75,768                1,776,590             

    Miscellaneous Revenue 33,387                38,227                2,167,917             

Total Non‐operating Revenue (Expenses) 246,183              113,995              (613,236)               

Change in Net Position  (1,159)$               156,353$            298,164$              

For Month Ending January 2019 and 2020 

Sewer Fund

Statement of Revenues, Expenses, and Changes in Net Position

13

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Stormwater Highlights and AnalysisNote (1): See page 3

The Stormwater Fund began providing services April 1, 2019. A mix of stormwatersystem maintenance costs as well as capital projects make up the bulk of the 2020Budget.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services ‐$                     377,219$            4,140,962$           

Total Operating Revenues ‐                       377,219              4,140,962             

Operating Expenses ‐                       115,260              2,218,528             

Operating Income (Loss) ‐                       261,959              1,922,434             

Non‐operating Revenues (Expenses)

    Capital Outlay ‐                       ‐                       (7,498,351)            

    Miscellaneous Revenue ‐                       (5,585)                 5,000                     

Total Non‐operating Revenue (Expenses) ‐                       (5,585)                 (7,493,351)            

Change in Net Position  ‐$                     256,374$            (5,570,917)$         

Stormwater

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending January 2019 and 2020 

14

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Sanitation Highlights and AnalysisNote (1): See page 3

The 2020 Budget includes appropriation for five replacement trucks and two newtrash trucks as well as two additional employees who were added to supplement thetrash and recycle curbside routes.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services 90,918$              86,638$              5,616,264$           

Total Operating Revenues 90,918                86,638                5,616,264             

Operating Expenses 332,468              257,392              5,376,154             

Operating Income (Loss) (241,550)             (170,754)             240,110                 

Non‐operating Revenues (Expenses)

    Capital Outlay ‐                       ‐                       (1,946,000)            

    Miscellaneous Revenue 14,148                13,707                185,528                 

Total Non‐operating Revenue (Expenses) 14,148                13,707                (1,760,472)            

Change in Net Position  (227,402)$          (157,047)$          (1,520,362)$         

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending January 2019 and 2020 

Sanitation

Monthly Financial ReportFebruary 2020

Peace Wall at Margaret W. Carpenter Recreation Center

2

•Provides core City services including Public Safety, Fire and Emergency, Street Maintenance, Parks and Recreation, Building Permits, and Planning. 

GENERAL & GOVERNMENTAL CAPITAL FUND

2019 2020 2020 Budget 

Revenues

    Sales, Use & Other Taxes (2) 8,584,225$        8,703,933$        109,170,517$      

    Property Tax 118,884              230,552              16,913,072          

    Licensing & Permits 832,319              953,567              5,653,954             

    Grants & Intergovernmental (1) 937,247              2,324,647          13,133,752          

    Charges for Services 2,250,779          2,580,130          18,764,834          

    Other Revenues 1,019,118          812,495              11,676,751          

Total Revenues (1) 13,742,572        15,605,324        175,312,880        

Expenses

    General Government 5,540,486          5,632,674          39,495,601          

    Police  4,253,708          5,563,162          41,448,462          

    Fire and Ambulance 2,180,189          2,563,413          20,693,005          

    City Development 911,423              1,155,010          8,809,099             

    Streets, Traffic, and Engineering 1,203,756          1,637,810          12,050,197          

    Community Services 1,558,474          2,368,894          25,377,096          

    Capital Outlay  208,641              ‐                       73,106,973          

    Debt ‐                       ‐                       5,824,022             

    Contractual Obligations 34,969                85,974                1,350,000             

Total Expenses 15,891,645        19,006,937        228,154,455        

Other Sources

Net Transfers In 941,661              502,741              7,137,477             

Total Other Sources 941,661              502,741              7,137,477             

Change in Fund Balance (1,207,412)$      (2,898,872)$      (45,704,098)$       

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

Governmental Funds

3

•Provides core City services including Public Safety, Fire and Emergency, Street Maintenance, Parks and Recreation, Building Permits, and Planning. 

GENERAL & GOVERNMENTAL CAPITAL FUND

Governmental Highlights and AnalysisNote (1): General government revenues are up 13.6%, or $1,862,752, compared to 2019. Themajority of this increase is related to one time revenue of approximately $1.8M related to anAdams County grant for the Riverdale Ballfield complex. Absent this one‐time revenue, generalgovernment revenues were up 0.6%.

Note (2): The Sales, Use & Other Taxes category is up 1.4%, or $119,708, compared to 2019.This includes sales tax reported to the City in February for retail sales made in January. Salestax collections and the effect of COIVD‐19 on sales tax revenues will continue to be monitoredin the coming months. It is early, but sales tax revenues are expected to be significantlyimpacted by this pandemic. March returns due April are expected to be the first month to showany significant changes in tax reporting. Building Use Tax is down $642,073 from 2019. Thisdecrease is the result of a one time refund to a homebuilder in 2020. Absent this refund,building use tax is up $28,831 or 2.7%. The City has issued 98 single family permits in 2020, upfrom 87 in 2019.

The 2020 Budget funds a variety of capital projects, including: the Police Training Facility, a newfire engine ladder truck, replacing the York Street Bridge over Big Dry Creek, and the N‐Linestation art.

The Operating Budget also includes some new initiatives, including: the first full year ofoperations at Trail Winds Recreation Center, the new Thornton Active Adult Center opening inthe third quarter of 2020, a juvenile probation program, 2020 census outreach, the new FireStation No. 1 opening in December 2020, and conversion of a portion of police fleet to hybridvehicles.

4

• The Adams County (ADCO) Road & Bridge and ADCOOpen Space, Parks, Open Space, Parks and OpenSpace, Conservation Trust, Cash‐In‐Lieu, and ThorntonArts, Sciences and Humanities Council, Inc. (TASHCO),136th Ave. General Improvement District (GID), E‐911,and Risk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisADCO Road & BridgeNote (1): Revenues are up $556,753, compared to 2019. A majority of this increase isrelated to a developer contribution of $556,225 received as a reimbursement forimprovements to 120th Avenue.

The 2020 Budget covers 50% of the City’s Street Rehabilitation Program. The other 50%is covered by the Governmental Capital Fund.

ADCO Open SpaceThe 2020 Budget includes landscape and playground rehabilitation as well as funding forart at parks and recreation facilities.

Conservation TrustThe 2020 Budget covers a variety of maintenance and repairs to City recreation sites.

2019 2020 2020 Budget 

ADCO Road & Bridge

     Total Revenues (1) 24,295                581,048                3,469,000                  

     Total Expenses 8                          1,300                    9,190,390                  

     Change in Fund Balance 24,287$             579,748$             (5,721,390)$             

ADCO Open Space

     Total Revenues 4,530                  6,502                    3,045,448                  

     Total Expenses 69,451                ‐                        4,150,295                  

     Change in Fund Balance (64,921)$           6,502$                 (1,104,847)$             

Conservation Trust

     Total Revenues 3,839                  5,741                    1,642,000                  

     Total Expenses 30,402                184,851                2,196,285                  

     Change in Fund Balance (26,563)$           (179,110)$           (554,285)$                 

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

Special Revenue & Other Funds

5

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and AnalysisOpen SpaceThe 2020 Budget includes appropriation for trail connections throughout the City aswell as improvements to the Skylake Open Lands.

Parks & Open SpaceThe 2020 Budget includes appropriation for flush toilets at Community Park andreplacing the gym floor at the Margaret W. Carpenter Recreation Center.

2019 2020 2020 Budget 

Parks

     Total Revenues 5,947                  3,333                    98,000                        

     Total Expenses ‐                      ‐                        623,312                     

     Change in Fund Balance 5,947$               3,333$                 (525,312)$                 

Open Space

     Total Revenues 122,332              41,799                  3,830,377                  

     Total Expenses ‐                      196                       6,411,051                  

     Change in Fund Balance 122,332$           41,603$               (2,580,674)$             

Parks & Open Space

     Total Revenues 744,370              655,933                8,126,169                  

     Total Expenses 3,225,789          21,119                  41,010,790                

     Total Bond Proceeds ‐                      ‐                        30,000,000                

     Change in Fund Balance (2,481,419)$      634,814$             (2,884,621)$             

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

Special Revenue & Other Funds

6

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

Highlights and Analysis136TH GIDThe assessed property valuation of 136th GID increased 80.4%, or $3,381,210, over2018, generating an additional $43,239 of property tax revenue from this area. The2020 Budget includes a transfer to the General Fund.

E‐911The 2020 Budget includes a transfer to the General Fund to help cover the costs ofthe emergency communications center.

RiskThe Risk Fund provides insurance coverage and risk management support to alldepartments within the City. Revenues for Risk Management come from chargesfor service to the City’s operating divisions.

2019 2020 2020 Budget 

136th GID

     Total Revenues 172                     1,083                    100,000                     

     Total Expenses ‐                      ‐                        100,000                     

     Change in Fund Balance 172$                   1,083$                 ‐$                           

E‐911

     Total Revenues 94,032                92,900                  1,100,000                  

     Total Expenses ‐                      ‐                        1,100,000                  

     Change in Fund Balance 94,032$             92,900$               ‐$                           

RISK

     Total Revenues 1,467,505          1,033,124            6,229,133                  

     Total Expenses 1,457,316          494,147                6,181,585                  

     Change in Fund Balance 10,189$             538,977$             47,548$                     

For Month Ending February 2019 and 2020 

Special Revenue & Other Funds

Statement of Revenues, Expenses, and Changes in Fund Balance

7

• The ADCO Road & Bridge and ADCO Open Space,Parks, Open Space, Parks and Open Space,Conservation Trust, Cash‐In‐Lieu, and Thornton Arts,Sciences and Humanities Council, Inc. (TASHCO), 136th

Ave. General Improvement District (GID), E‐911, andRisk

SPECIAL REVENUE FUNDS & OTHER 

FUNDS

TASHCOThe 2020 Budget includes the planned spending down of fund balance on public art atthe 128th Avenue roundabout.

Cash‐In‐LieuThe 2020 Budget includes funding for a conceptual plan for Lambertson Farms andsupplemental funding for trail connections, which are primarily funded out of theOpen Space Fund.

2019 2020 2020 Budget 

TASHCO

     Total Revenues 1,124                  1,092                    111,387                     

     Total Expenses 1,836                  1,653                    361,387                     

     Change in Fund Balance (712)$                 (561)$                   (250,000)$                 

Cash‐In‐Lieu

     Total Revenues 6,294                  5,892                    225,000                     

     Total Expenses ‐                      107                       689,161                     

     Change in Fund Balance 6,294$               5,785$                 (464,161)$                 

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

Special Revenue & Other Funds

8

•An Urban Renewal Authority established to finance the design and construction of various improvements within the Thornton Development Authority (TDA) boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA S. Highlights and AnalysisThe 2020 Budget includes a TDA South revitalization plan as well as the SouthThornton Attraction and Revitalization Grant.

2019 2020 2020 Budget 

Revenues

    Property Tax 3,369$                2,021$                733,000$            

    Interest & Misc. Revenue 27,172                26,735                193,000               

Total Revenues 30,541               28,756               926,000              

Expenses

    Capital Outlay ‐                      150,000              1,373,726           

Total Expenses ‐                      150,000             1,373,726          

Net Transfers In/(Out) (53,045)               (36,424)               (218,545)             

Change in Fund Balance (22,504)$           (157,668)$         (666,271)$          

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

TDA South Capital Fund

9

•An Urban Renewal Authority established to finance the design and construction of various improvements within the TDA’s boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA N. Highlights and AnalysisNote (1): Sales tax generated in the Larkridge shopping area finished up 14.4% compared to the same month last year.  New businesses continue to account for all of this gain. 

The 2020 Budget includes appropriation for a variety of costs, including: debt payments for infrastructure in TDA North, a contribution towards the Big Dry Creek Sewer Project, the Bull Canal relocation at 152nd Avenue, and incentive payments.

2019 2020 2020 Budget 

Revenues

    Sales Tax (1) 370,632$           423,170$           6,200,000$         

    Property Tax 181                     2,929                  10,300,000         

    Interest & Misc. Revenue 62,981                24,362                490,000               

Total Revenues 433,794             450,461             16,990,000         

Expenses

    Debt Service ‐                      ‐                      1,416,463           

    Capital Outlay 238,456              1,669,150          13,066,042         

Total Expenses 238,456             1,669,150          14,482,505         

Net Transfers In/(Out) (694,926)            (421,588)            (7,515,476)          

Change in Fund Balance (499,588)$          (1,640,277)$      (5,007,981)$       

TDA North Capital Fund

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

10

•An Urban Renewal Authority established to finance the design and construction of various improvements within the TDA’s boundaries.

THORNTON DEVELOPMENT 

AUTHORITY (TDA)

TDA 144th Highlights and AnalysisNote (1): Sales tax generated in The Grove shopping center is up 30% from 2019. Themajority of this gain can be attributed to businesses that opened since February of lastyear. Through the annual sales tax rate certification process, the pledged sales tax ratewent from 3.26% to 2.00%, effective March 1, 2019. The pledged sales tax rate will dropto 1.45%, effective March 1, 2020. This process sends more money to the General Fundto pay for the increased services in this area.

The majority of the 2020 Budget covers debt payments for infrastructure built in TDA144th.

2019 2020 2020 Budget

Revenues

    Sales Tax (1) 132,264$           105,305$           1,500,000$         

    Property Tax 1,833                  633                     1,600,000           

    Interest & Misc. Revenue 8,948                  5,476                  92,000                 

Total Revenues 143,045             111,414             3,192,000           

Expenses

    Debt Service 2,500                  2,500                  1,810,994           

    Miscellaneous 40,571                52,652                865,000               

Total Expenses 43,071               55,152               2,675,994           

Net Transfers In/(Out) (193,690)            (44,729)               (268,373)             

Change in Fund Balance (93,716)$            11,533$             247,633$            

TDA 144th Capital Fund

Statement of Revenues, Expenses, and Changes in Fund Balance

For Month Ending February 2019 and 2020 

11

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Water Highlights and AnalysisNote (1): Charges for Services are up 5.4%, or $165,670, compared to 2019. Thisincrease is due to an increase in the number of accounts the utility serves and a rateincrease of 3% effective January 2020. This increase ensures there will be adequatefunding to cover ongoing operations of the water utility.

Note (2): Miscellaneous revenue is up $3,713,050 over the prior year. This is theresult of a one‐time receipt of $2,655,726 for the sale of water shares and$1,092,520 in grant revenue.

In 2020, the City funded Advanced Metering Infrastructure, which will provideenhanced meter reading, billing, and water conservation. The Thornton WaterProject is also ongoing, with construction on a segment of pipe beginning in 2020and several sections of pipe design continuing.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services (1) 3,083,870$        3,249,540$        50,803,760$         

Total Operating Revenues 3,083,870          3,249,540          50,803,760           

Operating Expenses 3,652,050          3,209,652          29,644,019           

Operating Income (Loss) (568,180)            39,888               21,159,741           

Non‐operating Revenues (Expenses)

    Capital Outlay (612,555)            (1,957,826)         (157,147,691)       

    Debt (1,137,862)         (1,080,662)         (2,859,244)            

    Tap Fees & Contributed 3,013,918          2,170,825          21,114,321           

    Lease Revenue 1,435,845          2,314,357          3,908,648             

    Miscellaneous Revenue (2) 601,979              4,315,029          6,486,985             

Total Non‐operating Revenues (Expenses) 3,301,325          5,761,723          (128,496,981)       

Change in Net Position  2,733,145$        5,801,611$        (107,337,240)$     

Water Fund

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending February 2019 and 2020 

12

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Sewer Highlights and AnalysisSewer rates increased 1.8% in January 2020 as a result of an increase in fees chargedby the Metro Wastewater Reclamation District for treatment of the City’s sewageflows.

The largest driver of the 2020 Budget is the payment to the Metro WastewaterReclamation District for treating the City’s sewage flows.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services 1,576,406$        1,582,718$        15,580,000$         

Total Operating Revenues 1,576,406         1,582,718         15,580,000          

Operating Expenses 625,051              502,539              14,668,600           

Operating Income (Loss) 951,355             1,080,179         911,400                

Non‐operating Revenues (Expenses)

    Capital Outlay (14,804)               (5,914)                 (19,799,829)          

    Tap Fees & Contributed 307,593              189,553              1,776,590             

    Miscellaneous Revenue 66,112                65,960                2,167,917             

Total Non‐operating Revenue (Expenses) 358,902             249,599             (15,855,322)        

Change in Net Position  1,310,257$       1,329,778$       (14,943,922)$      

For Month Ending February 2019 and 2020 

Sewer Fund

Statement of Revenues, Expenses, and Changes in Net Position

13

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Stormwater Highlights and AnalysisThe Stormwater Fund began providing services April 1, 2019. Revenues are trendingas expected. A mix of stormwater system maintenance costs as well as capitalprojects make up the bulk of the 2020 Budget.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services ‐$                    679,011$           4,140,962$           

Total Operating Revenues ‐                      679,011             4,140,962            

Operating Expenses ‐                      301,036              2,218,528             

Operating Income (Loss) ‐                      377,975             1,922,434            

Non‐operating Revenues (Expenses)

    Capital Outlay ‐                      ‐                      (8,684,925)            

    Miscellaneous Revenue ‐                      3,630                  5,000                     

Total Non‐operating Revenue (Expenses) ‐                      3,630                 (8,679,925)           

Change in Net Position  ‐$                   381,605$           (6,757,491)$        

Stormwater

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending February 2019 and 2020 

14

•Supports the Operation, Maintenance, and expansion of the City’s Water, Sewer, Storm Water, and Sanitation Utilities.

ENTERPRISE FUNDS

Sanitation Highlights and AnalysisThe 2020 Budget includes appropriation for five replacement trucks and two newtrash trucks as well as two additional employees who were added to supplement thetrash and recycle curbside routes.

2019 2020 2020 Budget

Operating Revenues

    Charges for Services 540,832$           544,296$           5,616,264$           

Total Operating Revenues 540,832             544,296             5,616,264             

Operating Expenses 680,475              612,094              5,376,154             

Operating Income (Loss) (139,643)            (67,798)              240,110                

Non‐operating Revenues (Expenses)

    Capital Outlay ‐                      ‐                      (1,946,000)            

    Miscellaneous Revenue 25,468                24,015                185,528                

Total Non‐operating Revenue (Expenses) 25,468               24,015               (1,760,472)           

Change in Net Position  (114,175)$          (43,783)$            (1,520,362)$         

Statement of Revenues, Expenses, and Changes in Net Position

For Month Ending February 2019 and 2020 

Sanitation