1. Third Quarter, FY 2017 Financial Reports
City of Mineola
Third Quarter, FY 2017
Financial Reports
Water Sales are 63% of revenue

2. General Fund Revenue
Sales Tax Collection is at 7.1% over last year, exceeding the 6% budget increase
Property Tax Collection is at 93% of budget.
Refuse Collection is at 113% of budget and 69% over last year. This is due to the Commercial Franchise which began in October

3. General Fund Revenue ½ Cent Sales Tax $489,523.98 Fines $187,459.17
Hotel/Motel $ 53,746.91
Other Income $300,958.24
Property Taxes $1,040,881.20
Utility/Franchise $174,144.10
Refuse Collection $485,385.16
Sales Tax $979,047.94
Total Revenue $3,711,146.70
(Third Quarter FY 17)
YTD Budget $3,489,880.00
Variance (+)$221,266.70
Property Taxes are 36% of Revenue, Sales Tax is 23%
YTD Budget figure is total budget, divided by 12 months, times three months

6. Refuse Collection
At the end of the third quarter, our net revenue over expense is $156,
The city bills in advance for trash collection. Trash is billed in June for June 1 through June 30. The bill to Republic is paid in July for these dates.
Note that are Year End totals. The final column is as of June 30, 2017 (YTD).

7. General Fund Expenditures
Total General Fund Expenditures at 75.05% of budget
Total Excess Revenue over Expenditures $209,290.64

8. General Fund Expenditures
Police $1,029,318.55
Fire $406,008.15
Street $806,370.59
Admin $589,813.80
Comm Dev $180,820.99
Transfers $489,523.98
Total Expenditures : $3,501,856.06
(Third Quarter FY17)
YTD Budget $3,499,525.00
Variance (-)$2,331.06

9. General Fund Revenue & Expense (3yr)
YTD FY 2017 Revenues exceeded Expenditures by $212,152.64
FY Expenditures exceeded Revenue by $173,541.24
FY Expenditures exceeded Revenue by $431,689.71
FY Revenues exceeded Expenditures by $78,524.43
For the reporting period, expenses exceed revenues by $313,136.25

10. General Fund Cash Balance
Cash Account balances as of June for last five years
Only considering Operating Funds and Investment Account $

11. Water Fund Revenue
Water Sales are at 75% of budget, which is equal to the budget expectation.
Sewer Sales are at 79%
Total Revenue for Water Fund is at 71%
Summer months generally see higher water sales, however, with summer rains, water sales may be short next quarter.

12. Water Fund Revenue Water Sales $977,187.61 Sewer Sales $527,010.55
Other Income $ 67,865.96
Total Revenue $1,572,064.12
(Third Quarter FY 17)
YTD Budget $1,663,037.00
Variance (-)$90,972.88
(Unspent Meredith Funds)

13. Water Fund Expenditures
Total Water Fund Expenditures at % of budget
Total Excess Revenue Over Expenditures $121,410.38

14. Water Fund Expenditures
Wastewater $296,323.67
Transfers $595,223.00
Total Expenditures : $1,450,653.74
(Third Quarter FY17)
YTD Budget $1,662,286.00
Variance (+)$211,632.26

15. Water Fund Revenue & Expense (3yr)
YTD FY 2017 Revenues exceeded Expenditures by $121,380.38
FY Expenditures exceeded Revenue by $348,634.05
FY Expenditures exceeded Revenue by $113,918.08
FY Revenues exceeded Expenditures by $70,426.71
Expenses exceeded Revenues by $313, for the reporting period
Last three quarters revenues exceed expenditures

16. Water Fund Balance Cash Account balance as of June for last five years$

17. Cash Balances Total City Funds, including bond funds
City Funds held in Money Market Accounts

18. Interest Rates The US Treasury Yield Curve continues to rise
City funds are invested in Money Market accounts which earn .4% over the US Treasury Yield Curve as reflected on the last day of the month.
Currently there are no plans to invest in CD’s or other investment options as those rates are lower than our current earnings. Should this change, the city will explore those options.