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r CITYi&F l!-LCOLORADO ; SPRINGS
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We Create CommiAnit. INFORMAL AGENDA DATE:
March 21, 201 1
TO: FROM: SUBJECT:
AGENDA FOR INFORMAL CITY COUNCIL MEETING
An Informal meeting of the City Council and Administration has been scheduled for 1 :00 p,m. on Monday, March 21, 201 1, at City Hall, 107 N. Nevada Avenue, Council Chambers.
EXTRA ITEMS QUESTIONS ON THE AGENDA ACTION ITEMS REPORT SECTION
1. Airport Report - Mark Earle, Director of Aviation EJ 2, Legislative Update - Tim Burke, Intergovernmental Affairs Liaison p-(I DISCUSSION ITEMS
1, Preliminary 2010 Year-End Financial Update - Candice Bridgers, Financial Services Manager Rl 2. City Council Open Discussion
3, City Manager's Issues - Steven W. Cox, Interim City Manager PERSONNEL ITEMS LEGAL ITEMS
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,,NOF COLORADO SPRIF.,
INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21,201 1 TO: VIA: FROM:
Mark Earle, Director
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Subject Title: Airport Report Mar
Strategic Goal:
SUMMARY:
Because the Airport is a strategic asset for the City of Colorado Springs and the surrounding region, City Council has indicated the need for a monthly report on the activities of the Airport enterprise. PREVIOUS COUNCIL ACTION:
Each month, Council reviews staff reports on airport operations, planning, development, air service activity, financial status, and other areas of concern or interest. CURRENT PROJECTS: Defense Access Road
As of the end of February, earthwork and grading efforts have reached 60 percent completion, storm water infrastructure has reached 50 percent completion, and construction of the South detention pond has reached 30 percent completion. The overall project is projected to be complete in Fall of 2011. OPERATIONS AND MAINTENANCE: Minimum Standards Program
Over the past year, staff has been working to develop a Minimum Standards Program that will serve as the primary guiding document for commercial aeronautical activities on the ITEM R-1
general aviation side of the Airport. Minimum standards programs are strongly recommended by the Federal Aviation Administration (FAA) because they establish basic rules, procedures, and policies for aeronautical businesses competing at the Airport while protecting the level and quality of services offered to the public. An initial draft of the Minimum Standards Program was posted on the Airport website in the Spring of 2010 for public comment. The input received during the comment period has been reviewed, and the Airport will release its responses within the next two weeks. A revised draft of the Minimum Standards Program will be posted on the Airport website during the third week of March for a second round of public comments.
January Traffic Statistics
Weather-related delays throughout the month of January were offset by new service additions and high load factors, resulting in enplanement levels equal to those in January 2010. Additionally, the number of seats available in the market increased by 2.7 percent compared to January 2010. This increase was mainly attributable to service additions by Allegiant Air and a switch to larger aircraft on several Continental Airlines routes. Load factors were down slightly at 68.5 percent compared to 69.7 percent during January last year. January Revenue and Expenditures
Preliminary January 201 1 revenue totals were 2.5 percent above January 2010. The primary driver was an increase in airline revenue due to higher terminal rental rates and more frequent use of the Airport's unassigned gates during peak periods. The Airport incurred expenses 10.7 percent below the budget and 11.8 percent less than January 2010 actuals. This variance is primarily due to a timing issue caused by a delay in utility billings. CUSTOMER SERVICE: Customer Comments
During February 2011, a total of 32 comments were received through the Airport's website and Comment Card system. Approximately 50 percent of the comments were general inquiries. In cases where customers had concerns, they were contacted personally by a senior member of the Airport staff. Questions that fell within areas of responsibility of an airline or agency other than the Airport were forwarded to that agency and tracked by the Airport to ensure that they were addressed appropriately. Positive comments received during the month included feedback about the Airport's art program, and the comfort and cleanliness of the terminal. List of attachments for this item: January Traffic Report
ITEM R-1
SUMMARY OF ENPLANED PASSENGERS Colorado Springs Airport Month
Year-to-date Percent
Enplaned passengers by Airline
Jan-11
Jan-10
Percent
change
2011
2010
change
Scheduled Carriers Allegiant Air American/American Connection Continental/Cont Express (a) (f) Delta /Delta Connection (b) Frontier/Lynx Aviation (e) US Airways (c) United/United Express (d)
4,505 13,272 5,656 7,241 7,512 0 22,658
2,236 14,232 5,729 7,720 6,723 517 24,139
101.5% -6.7% -1.3% -6.2% 11.7% N/A -6.1%
4,505 13,272 5,656 7,241 7,512 0 22,658
2,236 14,232 5,729 7,720 6,723 517 24,139
101.5% -6.7% -1.3% -6.2% 11.7% N/A -6.1%
Total
60,844
61,296
-0.7%
60,844
61,296
-0.7%
Charters Other Charters
307
0
N/A
307
0
N.A.
Total
307
0
N/A
307
0
N.A.
Total enplaned passengers
61,151
61,296
-0.2%
61,151
61,296
-0.2%
Total deplaned passengers
59,123
61,050
-3.2%
59,123
61,050
-3.2%
(a) (b) (c)
Continental Express provided by ExpressJet. Delta Connection provided by SkyWest and Mesaba. US Airways provided by Mesa Air Group.
(d) United Express provided by Mesa Air Group, SkyWest, and ExpressJet. (e) Service also provided by Republic Airways and Midwest (f) Service also provided by Skywest
MONTHLY ENPLANED PASSENGERS 2007-2011
120,000
2007 2008 2009 2010
110,000
2011
Number of Passengers
100,000
90,000
80,000
70,000
60,000
50,000 JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
ITEM R-1
CITY OF COLORADO SPRINGS INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21,201 1 TO:
Honorable Mayor and Members of City Council
b-
, I erim City Manager
VIA: FROM:
Sue Skiff ington-Blumberg, Public Communications Manager Timothy I. Burke, Intergovernmental Affairs Liaison
Subject Title: Legislative Update Strategic Goal@)this item supports:
SUMMARY: A Legislative Bills Status Report is provided to City Council on the Friday prior to Informal meetings during the state legislative session. For bills of interest to Colorado Springs, the report shows the positions that staff recommends to Council or positions that Council has adopted, as well as the positions of the Colorado Municipal League. PREVIOUS COUNCIL ACTION: The Legislative Update will be listed as a Report Item on Informal Council meeting agendas from January through May. BACKGROUND: The Colorado General Assembly convened on January 12 and must adjourn by May 11. City staff members of the Legislative Review Team screen all bills introduced and recommend positions to Council for bills of significance to Colorado Springs municipal government. An upto-date Legislative Bills Status Report will be provided to Council on the Friday preceding Informal Council meetings during the legislative session. FINANCIAL IMPLICATIONS: NIA BOARDICOMMISSION RECOMMENDATION:
ITEM R-2
STAKEHOLDER PROCESS: NIA ALTERNATIVES: NIA RECOMMENDATION:
List of attachments for this item: Legislative Bills Status Report (provided to Council the Friday preceding the Informal Council meeting)
ITEM R-2
C ~ OY F COLORADO SPRINGS
INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21, 201 1 TO: VIA: FROM:
Terri Velasquez, Financial and Administrative Services Director Candice Bridgers, Financial Services Manager
SUBJECT:
Preliminary 2010 Year-End Financial Update
Strategic Goal this item supports:
SUMMARY: The preliminary summary results of the City's General Fund activities for 2010 are attached, These figures are pre-audit and are subject to change per audit recommendations. The details are provided in the Financial Implications section of this memo and in the attached summaries and presentation. PREVIOUS COUNCIL ACTION: None. BACKGROUND: On December 9, 2009, City Council approved the original 2010 budget per Ordinance No. 09-148. The original General Fund expenditure appropriation was $208,486,486. During 2010, City Council approved a number of other ordinances further amending the appropriation ordinance. One of the more significant amendments was Ordinance No. 10-84for $1,186,000 that funded a variety of activities including election expenses, management costs for right-of-way permits, and Fleet fuel system costs. Another more significant amendment was Ordinance No, 10-38 for $1 ,1 10,034 that continued funding for multiple programs within Parks, Recreation and Cultural Services for the remainder of 2010. The 2010 final revised expenditure budget for the General Fund was $214,182,509 and the 2010 final revised revenue budget was $212,906,994.
ITEM D-1
FINANCIAL IMPLICATIONS: General Fund 20 10 Financial Update City departments were cautious in their spending and realized significant savings as sales and use tax collections began to show signs of recovery. The 2010 actual expenditures totaled approximately $204,834,807. This was 96 percent of budget or approximately $9.35million less than budgeted. Actual revenues received were $222,159,844. This was 4.3 percent higher than budget or approximately $9.25million more than budgeted, Total revenues were $1 7.3 million more than total expenditures, As a result, the City was able to make a significant contribution to the fund balance during 2010. Available Fund Balance and Days Cash on Hand for the General Fund City Council's informal policy has been to target the available fund balance at 10 percent of the original expenditure budget. As a general rule, the Government Finance Officers Association (GFOA) recommends a 60-day available fund balance; however, they provide additional considerations that should be taken into account when setting a fund balance target. There are also different methodologies that can be used when calculating fund balance (i.e., a percentage of either revenues or expenditures). Establishing a target and the specific methodology for the calculation is a discussion for City Council in the future. To date, a formal fund balance policy has not been established.
Based on current projections, the 2010 preliminary year-end available fund balance is approximately $29,7million, which is 14-5percent of actual expenditures or 13,9percent of the 2010 amended expenditure budget, The increase in fund balance is primarily due to a planned contribution to fund balance, an increase in sales and use tax revenue, expenditure savings, and other revenue increases. Based upon the 201 1 Budget, the 201 1 beginning of year fund balance is 13.3 percent of budgeted expenditures, excluding $4,1million of budget carried forward to 201 1 for projects and encumbrances. Days of Cash on Hand Days of cash on hand is calculated with and without Capital Improvement Projects (CIP) funds. The City CIP Fund was established to provide a dedicated source of revenue for ongoing capital improvements. The General Fund is the primary funding source for this fund with transfers made into the CIP Fund annually. Since the projects are multi-year, there was a considerable balance held in the separate CIP Fund. If there was an emergency and those funds were needed for cash flow, access to those funds would be available by abandoning projects with City Council approval. For 2010, the days of cash on hand was 42 days excluding the CIP Fund, and 59 days including the CIP Fund. As of February 201 1, the days of cash on hand was 28 days excluding the CIP Fund, and 61 days including the CIP Fund. The transfer from the General Fund to the CIP Fund of $1 3.8 million in January 201 1 is the primary reason for the General Fund decline, TABOR Calculation Current projections of 2010 TABOR fiscal year spending shows that the City will be approximately $215,000 below the 2010 TABOR fiscal year spending limit. While the 2010 TABOR fiscal year spending limit is known, the calculation of actual 2010 fiscal year spending will be finalized with the conclusion of the 2010 audit and publication of the Comprehensive Annual Financial Report (CAFR) in June 201 1. ITEM D-1
Public Safety Sales Tax (PSST) The 2010 PSST revenue budget totaled $21,253,062. The preliminary 2010 PSST revenue totals $23,564,329 million, which is $2.3million over budget. The PSST expenditure budget was $23,722,577 million. The preliminary 2010 PSST expenditures total $22,481,245 million, which is approximately $1 .l million under budget.
BOARDICOMMISSION RECOMMENDATION: None. STAKEHOLDER PROCESS: None. ALTERNATIVES: None. RECOMMENDATION: None. c: Sue Skiffington-Blumberg, Public Communications Manager Nancy Johnson, Assistant City Manager
List of attachments for this item: - 2010 Preliminary General Fund Revenue, Expenditures, and Fund Balance Summaries - 2010 Preliminary Year-End Financial Update Presentation
ITEM D-1
GENERAL FUND STATEMENT OF REVENUES BUDGET AND ACTUAL
CITY OF COLORADO SPRINGS FINANCE OFFICE For the month ended December 31, 2010
Unaudited - For Internal Use Only
100% OF YEAR TRANSPIRED
Original Revenues Taxes Sales and use taxes General property taxes Specific ownership Occupational liquor taxes Admission taxes
Budgeted Amounts Transfers and Amendments
Final
2010 Actual
Variance With Final Budget Positive (Negative)
Actuals as a Percentage of Budget
$105,890,308 20,671,695 2,436,339 279,300 572,464
$0 -
$105,890,308 20,671,695 2,436,339 279,300 572,464
$115,682,035 20,715,328 1,960,699 256,153 490,236
$9,791,727 43,633 (475,640) (23,147) (82,228)
109% 100% 80% 92% 86%
129,850,106
-
129,850,106
139,104,451
9,254,345
107%
Business licenses and permits
662,648
-
662,648
798,583
135,935
121%
Intergovernmental Transit grants-operating Federal assistance Cigarette tax Highway users tax Severance tax El Paso County road and bridge El Paso County shared fines
1,211,296 16,823,859 20,000 799,696 95,630
-
1,211,296 16,823,859 20,000 799,696 95,630
1,103,296 17,827,460 35,313 799,536 131,000
(108,000) 1,003,601 15,313 (160) 35,370
0% 0% 91% 106% 177% 100% 137%
Sub-total intergovernmental
18,950,481
-
18,950,481
19,896,605
946,124
105%
Charges for services General government Planning, zoning, subdivision fees Public safety Public works Transit system Culture and recreation Community centers
4,080,662 483,600 4,500,095 4,677,176 2,010,802 28,201
430,699 170,778
4,080,662 483,600 4,500,095 4,677,176 2,441,501 198,979
(268,901) (152,300) 401,589 213,201 (240,446) (344,011) (11,735)
93% 69% 109% 105% 0% 86% 94%
Sub-total charges for services
15,780,536
601,477
16,382,013
15,979,410
(402,603)
98%
6,505,500
-
6,505,500
5,803,834
(701,666)
89%
864,431 850,002 996,036
35,043 34,100
899,474 850,002 1,030,136
1,122,513 402,235 663,733
223,039 (447,767) (366,403)
125% 47% 64%
2,710,469
69,143
2,779,612
2,188,481
(591,131)
79%
174,459,740
670,620
175,130,360
183,771,364
Other financing sources Fund transfers-in: CSU Surplus Shared services Other transfers Debt refunding Proceeds from issuance of bond Premium on refunding bonds issued Capital leases Sale of capital assets
7,404,287 1,318,868 912,000
28,141,479 -
28,141,479 7,404,287 1,318,868 912,000
31,150,594 5,148,503 1,401,307 1,337,000 (648,924)
Total other financing sources
9,635,155
28,141,479
37,776,634
38,388,480
611,846
102%
$184,094,895
$28,812,099
$212,906,994
$222,159,844
$9,252,850
104%
Sub-total taxes
Fines and forfeits Miscellaneous Other revenue Investment earnings Rental income Sub-total miscellaneous Total revenues
Total revenues and other financing sources
3,811,761 331,300 4,901,684 4,890,377 (240,446) 2,097,490 187,244
8,641,004
105%
3,009,115 (2,255,784) 82,439 1,337,000 (1,560,924)
111% 70% 106% 0% 0% 0% 0% -71%
ITEM D-1
GENERAL FUND STATEMENT OF EXPENDITURES BUDGET AND ACTUAL
CITY OF COLORADO SPRINGS FINANCIAL SERVICES DIVISION For the month ended December 31, 2010
Unaudited - For Internal Use Only
100% OF THE YEAR TRANSPIRED 2010 Budget
Appointees City Manager
2010 Actual
Encumbrance Outstanding
Total Obligations
Variance With Final Budget Positive (Negative)
Actuals as a Percentage of Budget
$812,432
$605,303
$0
$605,303
$207,129
75%
305,405
278,587
-
278,587
26,818
91%
City Attorney
3,337,413
2,725,850
-
2,725,850
611,563
82%
City Auditor
1,434,364
1,028,171
-
1,028,171
406,193
72%
648,906
623,268
-
623,268
25,638
96%
3,545,891
3,389,164
5,693
3,394,857
151,034
96%
10,084,411
8,650,343
5,693
8,656,036
1,428,375
86%
196,500
182,239
-
182,239
14,261
93%
Human Resources
781,482
725,248
13,196
738,444
43,038
93%
Public Communications
280,324
274,382
-
274,382
5,942
98%
1,258,306
1,181,869
13,196
1,195,065
63,241
94%
Police
77,434,200
75,216,452
277,294
75,493,746
1,940,454
97%
Fire
40,953,498
38,862,020
263,349
39,125,369
1,828,129
95%
7,408,702
6,301,119
530,627
6,831,746
576,956
85%
1,378,206
1,232,834
-
1,232,834
145,372
89%
520,035
523,628
-
523,628
1,439,971
1,346,464
-
Total Financial and Administrative Services
10,746,914
9,404,045
Community Infrastructure and Development Community Development
8,286,404
City Council
City Clerk Municipal Court Total Appointees Interim City Management Budget
Total Interim City Management
Financial and Administrative Services Information Technology Financial Services Procurement Services
(3,593)
101%
1,346,464
93,507
94%
530,627
9,934,672
812,242
88%
8,078,764
66,155
8,144,919
141,485
97%
856,879
562,878
286
563,164
293,715
66%
Parks
8,358,676
8,237,628
42,190
8,279,818
78,858
99%
Streets
9,727,266
8,413,900
132,408
8,546,308
1,180,958
86%
Transit
3,473,960
2,266,604
758,215
3,024,819
449,141
65%
Total Community Infrastructure and Development
30,703,185
27,559,774
999,254
28,559,028
2,144,157
90%
General Costs
39,494,918
40,541,411
-
40,541,411
(1,046,493)
103%
1,104,633
1,106,421
-
1,106,421
(1,788)
100%
-
1,337,000
-
1,337,000
(1,337,000)
General Fund C.I.P.
2,402,444
975,472
197,806
1,173,278
1,229,166
41%
Total Expenditures
214,182,509
204,834,807
2,287,219
207,122,026
7,060,483
96%
Revenue and Collections
Economic Development
Debt Service Capital Leases
#DIV/0!
ITEM D-1
2010 Year-End Projected Fund Balance
Fund balance - January 1
UNAUDITED
AUDITED
2010 Est.
2009
$26,417,623
$32,017,052
Add: Revenues and Other Financing Sources
222,159,844
266,413,386
Less: Expenditures and Other Financing Uses Revenues over/(under) Expenditures
(204,834,807) 17,325,037
(272,012,815) (5,599,429)
Reserves Encumbrances, Project Rolls, Contingencies Debt service Emergency reserve
(4,116,385) (2,363,369) (7,545,241)
(4,576,604) (2,346,321) (7,545,241)
Total Reserves Unreserved, undesignated Fund Balance as of December 31
(14,024,995)
(14,468,166)
$29,717,665
$11,949,457
Unreserved, undesignated Fund Balance excluding investment market adjustment
$29,691,161
$11,539,367
Note: There is a $3.42 million negative cash balance in the grant funds due to the nature of grant reimbursements (i.e., expenditures have to be made before reimbursements can be issued to City). If included, this negative cash balance in the fund balance calculation would reduce the available fund balance by 1.59% to 12.28%.
ITEM D-1
2010 Preliminary Year-End Financial Update
March 21, 2011 , Candice Bridgers Financial Services Manager
2010 Preliminary Revenues/Expenditures Amended General Fund Revenue Budget $212,906,994 2010 Preliminary General Fund Revenue $222,159,844 Over/(Under) Budget $9,252,850 Amended General Fund Expenditure Budget $214,182,509 2010 Preliminary General Fund Expenditures $204,834,807 (Over)/Under Budget $9,347,702 2010 Preliminary General Fund Revenue 2010 Preliminary General Fund Expenditures Preliminary Revenue over/(under) Expenditures
$222,159,844 $204,834,807 $17,325,037 2
ITEM D-1
1
2010 Preliminary Year-End Projected Fund Balance 2010 Year-End Projected Fund Balance
Fund balance - January 1
UNAUDITED
AUDITED
2010 Est.
2009
$26,417,623
$32,017,052
Add: Revenues and Other Financing Sources
222,159,844
266,413,386
Less: Expenditures and Other Financing Uses Revenues over/(under) Expenditures
(204,834,807) 17,325,037
(272,012,815) (5,599,429)
Reserves Encumbrances, Project Rolls, Contingencies Debt service Emergency reserve
(4,116,385) (2,363,369) (7,545,241)
(4,576,604) (2,346,321) (7,545,241)
Total Reserves Unreserved, undesignated Fund Balance as of December 31
(14,024,995)
(14,468,166)
$29,717,665
$11,949,457
Unreserved, undesignated Fund Balance excluding investment market adjustment
$29,691,161
$11,539,367
3
2010 Preliminary General Fund Available Fund Balance
GFOA recommends a 60‐day fund balance or approximately $36 7 million based on the 2011 Budget $36.7 million based on the 2011 Budget City Council’s informal target has been 10% or $22.3 million based on the 2011 Expenditure Budget Various measures of fund balance $29.7 million preliminary 2010 total; 14.5% of 2010 Expenditures ($204.8 million); 13.9% of 2010 Amended Expenditure Budget ($214.2 million); and 13.3% of 2011 Budgeted Expenditures, excluding projects and
encumbrances carried forward of $4.1 million ($223.2 million) Note: At 12/31/2010 there was a $3.42 million negative cash balance in the grants fund due to the nature of grant reimbursements (i.e., expenditures have to be made before reimbursements can be issued to City). If included, this negative cash balance would reduce the available fund balance as stated above.
4
ITEM D-1
2
5
2010 Preliminary General Fund Days of Cash on Hand
Days of Cash on Hand is calculated with and without Capital Improvement Projects (CIP) funds. The City CIP Fund was established to provide a dedicated source of revenue for ongoing capital improvements. The General Fund is the primary funding source for this fund with transfers made into the CIP Fund annually. If there was an emergency and those funds were needed for cash flow, access to those funds would be available by abandoning projects with City Council approval City Council approval. For 2010, the days of cash on hand was 42 days excluding the CIP Fund, and 59 including the CIP Fund. As of February 2011, the days of cash on hand was 28 days excluding the CIP Fund, and 61 days including the CIP Fund. 6
ITEM D-1
3
7
2010 TABOR Calculation
Preliminaryy $215,000 below the Fiscal Year Spending Limit (TABOR Cap) Final determined after completion of the Comprehensive Annual Financial Report (CAFR) and annual audit
8
ITEM D-1
4
2010 Public Safety Sales Tax (PSST) Fund Amended PSST Fund Revenue Budget $21,253,062 2010 Preliminary P li i PSST FFund dR Revenue $23 564 329 $23,564,329 Revenue Over/(Under) Budget $2,311,267 Amended PSST Fund Expenditure Budget $23,722,577 2010 Preliminary PSST Fund Expenditures $22,481,245 Expenditures (Over)/Under Budget $1,083,084 2010 Preliminary PSST Fund Revenue $23,564,329 2010 Preliminary PSST Fund Expenditures $22,481,245 Revenue Over/(Under) Expenditures $1,241,332 9
Questions?
10
ITEM D-1
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r CITYi&F l!-LCOLORADO ; SPRINGS
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We Create CommiAnit. INFORMAL AGENDA DATE:
March 21, 201 1
TO: FROM: SUBJECT:
AGENDA FOR INFORMAL CITY COUNCIL MEETING
An Informal meeting of the City Council and Administration has been scheduled for 1 :00 p,m. on Monday, March 21, 201 1, at City Hall, 107 N. Nevada Avenue, Council Chambers.
EXTRA ITEMS QUESTIONS ON THE AGENDA ACTION ITEMS REPORT SECTION
1. Airport Report - Mark Earle, Director of Aviation EJ 2, Legislative Update - Tim Burke, Intergovernmental Affairs Liaison p-(I DISCUSSION ITEMS
1, Preliminary 2010 Year-End Financial Update - Candice Bridgers, Financial Services Manager Rl 2. City Council Open Discussion
3, City Manager's Issues - Steven W. Cox, Interim City Manager PERSONNEL ITEMS LEGAL ITEMS
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,,NOF COLORADO SPRIF.,
INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21,201 1 TO: VIA: FROM:
Mark Earle, Director
-
Subject Title: Airport Report Mar
Strategic Goal:
SUMMARY:
Because the Airport is a strategic asset for the City of Colorado Springs and the surrounding region, City Council has indicated the need for a monthly report on the activities of the Airport enterprise. PREVIOUS COUNCIL ACTION:
Each month, Council reviews staff reports on airport operations, planning, development, air service activity, financial status, and other areas of concern or interest. CURRENT PROJECTS: Defense Access Road
As of the end of February, earthwork and grading efforts have reached 60 percent completion, storm water infrastructure has reached 50 percent completion, and construction of the South detention pond has reached 30 percent completion. The overall project is projected to be complete in Fall of 2011. OPERATIONS AND MAINTENANCE: Minimum Standards Program
Over the past year, staff has been working to develop a Minimum Standards Program that will serve as the primary guiding document for commercial aeronautical activities on the ITEM R-1
general aviation side of the Airport. Minimum standards programs are strongly recommended by the Federal Aviation Administration (FAA) because they establish basic rules, procedures, and policies for aeronautical businesses competing at the Airport while protecting the level and quality of services offered to the public. An initial draft of the Minimum Standards Program was posted on the Airport website in the Spring of 2010 for public comment. The input received during the comment period has been reviewed, and the Airport will release its responses within the next two weeks. A revised draft of the Minimum Standards Program will be posted on the Airport website during the third week of March for a second round of public comments.
January Traffic Statistics
Weather-related delays throughout the month of January were offset by new service additions and high load factors, resulting in enplanement levels equal to those in January 2010. Additionally, the number of seats available in the market increased by 2.7 percent compared to January 2010. This increase was mainly attributable to service additions by Allegiant Air and a switch to larger aircraft on several Continental Airlines routes. Load factors were down slightly at 68.5 percent compared to 69.7 percent during January last year. January Revenue and Expenditures
Preliminary January 201 1 revenue totals were 2.5 percent above January 2010. The primary driver was an increase in airline revenue due to higher terminal rental rates and more frequent use of the Airport's unassigned gates during peak periods. The Airport incurred expenses 10.7 percent below the budget and 11.8 percent less than January 2010 actuals. This variance is primarily due to a timing issue caused by a delay in utility billings. CUSTOMER SERVICE: Customer Comments
During February 2011, a total of 32 comments were received through the Airport's website and Comment Card system. Approximately 50 percent of the comments were general inquiries. In cases where customers had concerns, they were contacted personally by a senior member of the Airport staff. Questions that fell within areas of responsibility of an airline or agency other than the Airport were forwarded to that agency and tracked by the Airport to ensure that they were addressed appropriately. Positive comments received during the month included feedback about the Airport's art program, and the comfort and cleanliness of the terminal. List of attachments for this item: January Traffic Report
ITEM R-1
SUMMARY OF ENPLANED PASSENGERS Colorado Springs Airport Month
Year-to-date Percent
Enplaned passengers by Airline
Jan-11
Jan-10
Percent
change
2011
2010
change
Scheduled Carriers Allegiant Air American/American Connection Continental/Cont Express (a) (f) Delta /Delta Connection (b) Frontier/Lynx Aviation (e) US Airways (c) United/United Express (d)
4,505 13,272 5,656 7,241 7,512 0 22,658
2,236 14,232 5,729 7,720 6,723 517 24,139
101.5% -6.7% -1.3% -6.2% 11.7% N/A -6.1%
4,505 13,272 5,656 7,241 7,512 0 22,658
2,236 14,232 5,729 7,720 6,723 517 24,139
101.5% -6.7% -1.3% -6.2% 11.7% N/A -6.1%
Total
60,844
61,296
-0.7%
60,844
61,296
-0.7%
Charters Other Charters
307
0
N/A
307
0
N.A.
Total
307
0
N/A
307
0
N.A.
Total enplaned passengers
61,151
61,296
-0.2%
61,151
61,296
-0.2%
Total deplaned passengers
59,123
61,050
-3.2%
59,123
61,050
-3.2%
(a) (b) (c)
Continental Express provided by ExpressJet. Delta Connection provided by SkyWest and Mesaba. US Airways provided by Mesa Air Group.
(d) United Express provided by Mesa Air Group, SkyWest, and ExpressJet. (e) Service also provided by Republic Airways and Midwest (f) Service also provided by Skywest
MONTHLY ENPLANED PASSENGERS 2007-2011
120,000
2007 2008 2009 2010
110,000
2011
Number of Passengers
100,000
90,000
80,000
70,000
60,000
50,000 JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
ITEM R-1
CITY OF COLORADO SPRINGS INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21,201 1 TO:
Honorable Mayor and Members of City Council
b-
, I erim City Manager
VIA: FROM:
Sue Skiff ington-Blumberg, Public Communications Manager Timothy I. Burke, Intergovernmental Affairs Liaison
Subject Title: Legislative Update Strategic Goal@)this item supports:
SUMMARY: A Legislative Bills Status Report is provided to City Council on the Friday prior to Informal meetings during the state legislative session. For bills of interest to Colorado Springs, the report shows the positions that staff recommends to Council or positions that Council has adopted, as well as the positions of the Colorado Municipal League. PREVIOUS COUNCIL ACTION: The Legislative Update will be listed as a Report Item on Informal Council meeting agendas from January through May. BACKGROUND: The Colorado General Assembly convened on January 12 and must adjourn by May 11. City staff members of the Legislative Review Team screen all bills introduced and recommend positions to Council for bills of significance to Colorado Springs municipal government. An upto-date Legislative Bills Status Report will be provided to Council on the Friday preceding Informal Council meetings during the legislative session. FINANCIAL IMPLICATIONS: NIA BOARDICOMMISSION RECOMMENDATION:
ITEM R-2
STAKEHOLDER PROCESS: NIA ALTERNATIVES: NIA RECOMMENDATION:
List of attachments for this item: Legislative Bills Status Report (provided to Council the Friday preceding the Informal Council meeting)
ITEM R-2
C ~ OY F COLORADO SPRINGS
INFORMAL AGENDA ITEM
COUNCIL MEETING DATE: March 21, 201 1 TO: VIA: FROM:
Terri Velasquez, Financial and Administrative Services Director Candice Bridgers, Financial Services Manager
SUBJECT:
Preliminary 2010 Year-End Financial Update
Strategic Goal this item supports:
SUMMARY: The preliminary summary results of the City's General Fund activities for 2010 are attached, These figures are pre-audit and are subject to change per audit recommendations. The details are provided in the Financial Implications section of this memo and in the attached summaries and presentation. PREVIOUS COUNCIL ACTION: None. BACKGROUND: On December 9, 2009, City Council approved the original 2010 budget per Ordinance No. 09-148. The original General Fund expenditure appropriation was $208,486,486. During 2010, City Council approved a number of other ordinances further amending the appropriation ordinance. One of the more significant amendments was Ordinance No. 10-84for $1,186,000 that funded a variety of activities including election expenses, management costs for right-of-way permits, and Fleet fuel system costs. Another more significant amendment was Ordinance No, 10-38 for $1 ,1 10,034 that continued funding for multiple programs within Parks, Recreation and Cultural Services for the remainder of 2010. The 2010 final revised expenditure budget for the General Fund was $214,182,509 and the 2010 final revised revenue budget was $212,906,994.
ITEM D-1
FINANCIAL IMPLICATIONS: General Fund 20 10 Financial Update City departments were cautious in their spending and realized significant savings as sales and use tax collections began to show signs of recovery. The 2010 actual expenditures totaled approximately $204,834,807. This was 96 percent of budget or approximately $9.35million less than budgeted. Actual revenues received were $222,159,844. This was 4.3 percent higher than budget or approximately $9.25million more than budgeted, Total revenues were $1 7.3 million more than total expenditures, As a result, the City was able to make a significant contribution to the fund balance during 2010. Available Fund Balance and Days Cash on Hand for the General Fund City Council's informal policy has been to target the available fund balance at 10 percent of the original expenditure budget. As a general rule, the Government Finance Officers Association (GFOA) recommends a 60-day available fund balance; however, they provide additional considerations that should be taken into account when setting a fund balance target. There are also different methodologies that can be used when calculating fund balance (i.e., a percentage of either revenues or expenditures). Establishing a target and the specific methodology for the calculation is a discussion for City Council in the future. To date, a formal fund balance policy has not been established.
Based on current projections, the 2010 preliminary year-end available fund balance is approximately $29,7million, which is 14-5percent of actual expenditures or 13,9percent of the 2010 amended expenditure budget, The increase in fund balance is primarily due to a planned contribution to fund balance, an increase in sales and use tax revenue, expenditure savings, and other revenue increases. Based upon the 201 1 Budget, the 201 1 beginning of year fund balance is 13.3 percent of budgeted expenditures, excluding $4,1million of budget carried forward to 201 1 for projects and encumbrances. Days of Cash on Hand Days of cash on hand is calculated with and without Capital Improvement Projects (CIP) funds. The City CIP Fund was established to provide a dedicated source of revenue for ongoing capital improvements. The General Fund is the primary funding source for this fund with transfers made into the CIP Fund annually. Since the projects are multi-year, there was a considerable balance held in the separate CIP Fund. If there was an emergency and those funds were needed for cash flow, access to those funds would be available by abandoning projects with City Council approval. For 2010, the days of cash on hand was 42 days excluding the CIP Fund, and 59 days including the CIP Fund. As of February 201 1, the days of cash on hand was 28 days excluding the CIP Fund, and 61 days including the CIP Fund. The transfer from the General Fund to the CIP Fund of $1 3.8 million in January 201 1 is the primary reason for the General Fund decline, TABOR Calculation Current projections of 2010 TABOR fiscal year spending shows that the City will be approximately $215,000 below the 2010 TABOR fiscal year spending limit. While the 2010 TABOR fiscal year spending limit is known, the calculation of actual 2010 fiscal year spending will be finalized with the conclusion of the 2010 audit and publication of the Comprehensive Annual Financial Report (CAFR) in June 201 1. ITEM D-1
Public Safety Sales Tax (PSST) The 2010 PSST revenue budget totaled $21,253,062. The preliminary 2010 PSST revenue totals $23,564,329 million, which is $2.3million over budget. The PSST expenditure budget was $23,722,577 million. The preliminary 2010 PSST expenditures total $22,481,245 million, which is approximately $1 .l million under budget.
BOARDICOMMISSION RECOMMENDATION: None. STAKEHOLDER PROCESS: None. ALTERNATIVES: None. RECOMMENDATION: None. c: Sue Skiffington-Blumberg, Public Communications Manager Nancy Johnson, Assistant City Manager
List of attachments for this item: - 2010 Preliminary General Fund Revenue, Expenditures, and Fund Balance Summaries - 2010 Preliminary Year-End Financial Update Presentation
ITEM D-1
GENERAL FUND STATEMENT OF REVENUES BUDGET AND ACTUAL
CITY OF COLORADO SPRINGS FINANCE OFFICE For the month ended December 31, 2010
Unaudited - For Internal Use Only
100% OF YEAR TRANSPIRED
Original Revenues Taxes Sales and use taxes General property taxes Specific ownership Occupational liquor taxes Admission taxes
Budgeted Amounts Transfers and Amendments
Final
2010 Actual
Variance With Final Budget Positive (Negative)
Actuals as a Percentage of Budget
$105,890,308 20,671,695 2,436,339 279,300 572,464
$0 -
$105,890,308 20,671,695 2,436,339 279,300 572,464
$115,682,035 20,715,328 1,960,699 256,153 490,236
$9,791,727 43,633 (475,640) (23,147) (82,228)
109% 100% 80% 92% 86%
129,850,106
-
129,850,106
139,104,451
9,254,345
107%
Business licenses and permits
662,648
-
662,648
798,583
135,935
121%
Intergovernmental Transit grants-operating Federal assistance Cigarette tax Highway users tax Severance tax El Paso County road and bridge El Paso County shared fines
1,211,296 16,823,859 20,000 799,696 95,630
-
1,211,296 16,823,859 20,000 799,696 95,630
1,103,296 17,827,460 35,313 799,536 131,000
(108,000) 1,003,601 15,313 (160) 35,370
0% 0% 91% 106% 177% 100% 137%
Sub-total intergovernmental
18,950,481
-
18,950,481
19,896,605
946,124
105%
Charges for services General government Planning, zoning, subdivision fees Public safety Public works Transit system Culture and recreation Community centers
4,080,662 483,600 4,500,095 4,677,176 2,010,802 28,201
430,699 170,778
4,080,662 483,600 4,500,095 4,677,176 2,441,501 198,979
(268,901) (152,300) 401,589 213,201 (240,446) (344,011) (11,735)
93% 69% 109% 105% 0% 86% 94%
Sub-total charges for services
15,780,536
601,477
16,382,013
15,979,410
(402,603)
98%
6,505,500
-
6,505,500
5,803,834
(701,666)
89%
864,431 850,002 996,036
35,043 34,100
899,474 850,002 1,030,136
1,122,513 402,235 663,733
223,039 (447,767) (366,403)
125% 47% 64%
2,710,469
69,143
2,779,612
2,188,481
(591,131)
79%
174,459,740
670,620
175,130,360
183,771,364
Other financing sources Fund transfers-in: CSU Surplus Shared services Other transfers Debt refunding Proceeds from issuance of bond Premium on refunding bonds issued Capital leases Sale of capital assets
7,404,287 1,318,868 912,000
28,141,479 -
28,141,479 7,404,287 1,318,868 912,000
31,150,594 5,148,503 1,401,307 1,337,000 (648,924)
Total other financing sources
9,635,155
28,141,479
37,776,634
38,388,480
611,846
102%
$184,094,895
$28,812,099
$212,906,994
$222,159,844
$9,252,850
104%
Sub-total taxes
Fines and forfeits Miscellaneous Other revenue Investment earnings Rental income Sub-total miscellaneous Total revenues
Total revenues and other financing sources
3,811,761 331,300 4,901,684 4,890,377 (240,446) 2,097,490 187,244
8,641,004
105%
3,009,115 (2,255,784) 82,439 1,337,000 (1,560,924)
111% 70% 106% 0% 0% 0% 0% -71%
ITEM D-1
GENERAL FUND STATEMENT OF EXPENDITURES BUDGET AND ACTUAL
CITY OF COLORADO SPRINGS FINANCIAL SERVICES DIVISION For the month ended December 31, 2010
Unaudited - For Internal Use Only
100% OF THE YEAR TRANSPIRED 2010 Budget
Appointees City Manager
2010 Actual
Encumbrance Outstanding
Total Obligations
Variance With Final Budget Positive (Negative)
Actuals as a Percentage of Budget
$812,432
$605,303
$0
$605,303
$207,129
75%
305,405
278,587
-
278,587
26,818
91%
City Attorney
3,337,413
2,725,850
-
2,725,850
611,563
82%
City Auditor
1,434,364
1,028,171
-
1,028,171
406,193
72%
648,906
623,268
-
623,268
25,638
96%
3,545,891
3,389,164
5,693
3,394,857
151,034
96%
10,084,411
8,650,343
5,693
8,656,036
1,428,375
86%
196,500
182,239
-
182,239
14,261
93%
Human Resources
781,482
725,248
13,196
738,444
43,038
93%
Public Communications
280,324
274,382
-
274,382
5,942
98%
1,258,306
1,181,869
13,196
1,195,065
63,241
94%
Police
77,434,200
75,216,452
277,294
75,493,746
1,940,454
97%
Fire
40,953,498
38,862,020
263,349
39,125,369
1,828,129
95%
7,408,702
6,301,119
530,627
6,831,746
576,956
85%
1,378,206
1,232,834
-
1,232,834
145,372
89%
520,035
523,628
-
523,628
1,439,971
1,346,464
-
Total Financial and Administrative Services
10,746,914
9,404,045
Community Infrastructure and Development Community Development
8,286,404
City Council
City Clerk Municipal Court Total Appointees Interim City Management Budget
Total Interim City Management
Financial and Administrative Services Information Technology Financial Services Procurement Services
(3,593)
101%
1,346,464
93,507
94%
530,627
9,934,672
812,242
88%
8,078,764
66,155
8,144,919
141,485
97%
856,879
562,878
286
563,164
293,715
66%
Parks
8,358,676
8,237,628
42,190
8,279,818
78,858
99%
Streets
9,727,266
8,413,900
132,408
8,546,308
1,180,958
86%
Transit
3,473,960
2,266,604
758,215
3,024,819
449,141
65%
Total Community Infrastructure and Development
30,703,185
27,559,774
999,254
28,559,028
2,144,157
90%
General Costs
39,494,918
40,541,411
-
40,541,411
(1,046,493)
103%
1,104,633
1,106,421
-
1,106,421
(1,788)
100%
-
1,337,000
-
1,337,000
(1,337,000)
General Fund C.I.P.
2,402,444
975,472
197,806
1,173,278
1,229,166
41%
Total Expenditures
214,182,509
204,834,807
2,287,219
207,122,026
7,060,483
96%
Revenue and Collections
Economic Development
Debt Service Capital Leases
#DIV/0!
ITEM D-1
2010 Year-End Projected Fund Balance
Fund balance - January 1
UNAUDITED
AUDITED
2010 Est.
2009
$26,417,623
$32,017,052
Add: Revenues and Other Financing Sources
222,159,844
266,413,386
Less: Expenditures and Other Financing Uses Revenues over/(under) Expenditures
(204,834,807) 17,325,037
(272,012,815) (5,599,429)
Reserves Encumbrances, Project Rolls, Contingencies Debt service Emergency reserve
(4,116,385) (2,363,369) (7,545,241)
(4,576,604) (2,346,321) (7,545,241)
Total Reserves Unreserved, undesignated Fund Balance as of December 31
(14,024,995)
(14,468,166)
$29,717,665
$11,949,457
Unreserved, undesignated Fund Balance excluding investment market adjustment
$29,691,161
$11,539,367
Note: There is a $3.42 million negative cash balance in the grant funds due to the nature of grant reimbursements (i.e., expenditures have to be made before reimbursements can be issued to City). If included, this negative cash balance in the fund balance calculation would reduce the available fund balance by 1.59% to 12.28%.
ITEM D-1
2010 Preliminary Year-End Financial Update
March 21, 2011 , Candice Bridgers Financial Services Manager
2010 Preliminary Revenues/Expenditures Amended General Fund Revenue Budget $212,906,994 2010 Preliminary General Fund Revenue $222,159,844 Over/(Under) Budget $9,252,850 Amended General Fund Expenditure Budget $214,182,509 2010 Preliminary General Fund Expenditures $204,834,807 (Over)/Under Budget $9,347,702 2010 Preliminary General Fund Revenue 2010 Preliminary General Fund Expenditures Preliminary Revenue over/(under) Expenditures
$222,159,844 $204,834,807 $17,325,037 2
ITEM D-1
1
2010 Preliminary Year-End Projected Fund Balance 2010 Year-End Projected Fund Balance
Fund balance - January 1
UNAUDITED
AUDITED
2010 Est.
2009
$26,417,623
$32,017,052
Add: Revenues and Other Financing Sources
222,159,844
266,413,386
Less: Expenditures and Other Financing Uses Revenues over/(under) Expenditures
(204,834,807) 17,325,037
(272,012,815) (5,599,429)
Reserves Encumbrances, Project Rolls, Contingencies Debt service Emergency reserve
(4,116,385) (2,363,369) (7,545,241)
(4,576,604) (2,346,321) (7,545,241)
Total Reserves Unreserved, undesignated Fund Balance as of December 31
(14,024,995)
(14,468,166)
$29,717,665
$11,949,457
Unreserved, undesignated Fund Balance excluding investment market adjustment
$29,691,161
$11,539,367
3
2010 Preliminary General Fund Available Fund Balance
GFOA recommends a 60‐day fund balance or approximately $36 7 million based on the 2011 Budget $36.7 million based on the 2011 Budget City Council’s informal target has been 10% or $22.3 million based on the 2011 Expenditure Budget Various measures of fund balance $29.7 million preliminary 2010 total; 14.5% of 2010 Expenditures ($204.8 million); 13.9% of 2010 Amended Expenditure Budget ($214.2 million); and 13.3% of 2011 Budgeted Expenditures, excluding projects and
encumbrances carried forward of $4.1 million ($223.2 million) Note: At 12/31/2010 there was a $3.42 million negative cash balance in the grants fund due to the nature of grant reimbursements (i.e., expenditures have to be made before reimbursements can be issued to City). If included, this negative cash balance would reduce the available fund balance as stated above.
4
ITEM D-1
2
5
2010 Preliminary General Fund Days of Cash on Hand
Days of Cash on Hand is calculated with and without Capital Improvement Projects (CIP) funds. The City CIP Fund was established to provide a dedicated source of revenue for ongoing capital improvements. The General Fund is the primary funding source for this fund with transfers made into the CIP Fund annually. If there was an emergency and those funds were needed for cash flow, access to those funds would be available by abandoning projects with City Council approval City Council approval. For 2010, the days of cash on hand was 42 days excluding the CIP Fund, and 59 including the CIP Fund. As of February 2011, the days of cash on hand was 28 days excluding the CIP Fund, and 61 days including the CIP Fund. 6
ITEM D-1
3
7
2010 TABOR Calculation
Preliminaryy $215,000 below the Fiscal Year Spending Limit (TABOR Cap) Final determined after completion of the Comprehensive Annual Financial Report (CAFR) and annual audit
8
ITEM D-1
4
2010 Public Safety Sales Tax (PSST) Fund Amended PSST Fund Revenue Budget $21,253,062 2010 Preliminary P li i PSST FFund dR Revenue $23 564 329 $23,564,329 Revenue Over/(Under) Budget $2,311,267 Amended PSST Fund Expenditure Budget $23,722,577 2010 Preliminary PSST Fund Expenditures $22,481,245 Expenditures (Over)/Under Budget $1,083,084 2010 Preliminary PSST Fund Revenue $23,564,329 2010 Preliminary PSST Fund Expenditures $22,481,245 Revenue Over/(Under) Expenditures $1,241,332 9
Questions?
10
ITEM D-1
5
