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