2012 Comprehensive Annual Financial Report - the City of Tukwila

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CITY OF TUKWILA: 2012 CAFRMANAGEMENT’S DISCUSSION AND ANALYSISChanges in Net PositionThe change in net position represents the increase or decrease in City net assets resulting from itsvarious activities.Following is a condensed version of the City’s changes in net position. The table shows therevenues, expenses and related changes in net assets for both governmental-type and businesstypeactivities:CITY OF TUKWILA CHANGES IN NET POSITION(in thousands)Governmental Activities Business-type Activities Total2012 2011 2012 2011 2012 2011Revenues: *Program revenuesCharges for services $5,832 $4,708 $17,034 $16,371 $22,866 $21,079Operating grants and contributions 4,412 4,360 - - 4,412 4,360Capital grants and contributions 1,582 18,495 136 1,994 1,717 20,489General revenuesProperty taxes 14,132 13,443 - - 14,132 13,443Sales and use taxes 15,442 15,796 - - 15,442 15,796Hotel/Motel taxes 522 556 - - 522 556Natural gas use tax 232 318 - - 232 318Utility taxes 4,001 4,052 - - 4,001 4,052Interfund utility taxes 1,535 1,372 - - 1,535 1,372Business taxes 2,498 2,309 - - 2,498 2,309Excise taxes 2,861 2,170 - - 2,861 2,170State entitlements 1,896 2,086 - - 1,896 2,086Investment earnings 117 275 - 61 117 337Miscellaneous 102 - - 201 102 201Total revenues 55,162 69,940 17,170 18,627 72,332 88,567Expenses:General government 8,343 9,151 - - 8,343 9,151Public safety 26,598 25,348 - - 26,598 25,348Physical environment 3,626 2,885 - - 3,626 2,885Transportation 7,315 6,873 - - 7,315 6,873Economic environment 4,801 4,713 - - 4,801 4,713Mental and physical health - 5 - - 0 5Culture and recreation 4,243 4,204 - - 4,243 4,204Interest on long-term debt 1,152 472 - - 1,152 472Water/sewer - 10,150 10,093 10,150 10,093Foster golf course - 1,701 1,987 1,701 1,987Surface water - 2,700 2,588 2,700 2,588Total expenses 56,078 53,650 14,550 14,668 70,629 68,318Increase (decrease) in net assets before transfers -917 16,290 2,620 3,959 1,703 20,249Transfers 1,057 -2,484 -1,057 2,484 - -Change in net position 140 13,806 1,563 6,443 1,703 20,249Net position-beginning of period 226,011 212,205 62,791 56,348 288,801 268,553Net position-end of period $226,151 $226,011 $64,354 $62,791 $290,504 $288,801* Restated for current year classificationsGovernmental activities ended the year with $140 thousand increase in the City’s net position.Revenues to fund capital assets are recorded as program or general revenues in the statement ofactivities. However, asset purchases are not recorded as expenses in the year purchased andconstruction costs are not recorded as expenses in the year incurred. Instead, the costs arerecorded as long-term assets and are depreciated over their useful life.20
CITY OF TUKWILA: 2012 CAFRMANAGEMENT’S DISCUSSION AND ANALYSISRevenues from governmental activities decreased $14.8 million from 2011 activity. The componentsand explanation of this decrease follows.Capital grants and contributions decreased $16.9 million due to the completion of two majorarterial street projects.Charges for services increased $1.1 million primarily due to the recognition of developer feesand increase in adult probation service charge receipts.Increase in excise tax receipts of $690 thousand were due to recognition of outstandinggambling taxes and revenues from real estate excise tax.Total governmental expenses increased by $2.4 million due to additional salaries and removal ofhesco fences. Physical environment expenses increased by $740 thousand or 26% primarily due tothe removal of flood response protective measures. Public safety expenses increased by $1.3million, or 5%, as a result of wage and benefits increases per new labor agreement, addition of threeofficers and the improvements to the new Neighborhood Resource Center. Interest expense onlong-term debt increased by $679 thousand.The next chart summarizes the governmental activity revenue by source, while the second onereflects the specific programs’ revenues and related expenses for the various activities of the City.Gaps between specific programs’ revenues and their related expenses are funded through generaltax revenues.Revenues by Source – Governmental ActivitiesUtility taxes10%Other taxes11%Other revenue4%Charges forservices11% Capital grants &contributions8%Operating grants& contributions3%Sales/use taxes28%Property taxes25%21
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2012 Comprehensive Annual Financial Report - the City of Tukwila

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