2012 Comprehensive Annual Financial Report - the City of Tukwila

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CITY OF TUKWILA: 2012 CAFRMANAGEMENT’S DISCUSSION AND ANALYSISThe general fund revenue increase of $814 thousand came from the following sources:General Fund Revenue Increases (Decreases) - By Source1,500,000Taxes$1,194,9021,000,000500,000Charges for Services$76,1340Licenses & Permits ($228,077)Intergovernmental($47,259)Fines & Forfeitures($9,155)Investment Earnings($66,870)Miscellaneous($67,963)(500,000)Revenue from revenue generating regulatory fee was previously categorized under licenses andpermits in prior years. This fee is currently included in taxes.Financial Analysis of Proprietary FundsThe City’s proprietary funds provide the same type of information as found in the government-widefinancial statements, but in greater detail. Factors affecting the finances of the City’s proprietaryfunds have already been addressed in the discussion of the City’s business-type activities.General Fund Budgetary HighlightsThe City budgets biennially by adopting a budget at the end of the preceding biennium, and thenmaking adjustments as necessary via budget amendments throughout the next two years. Followingis a summary of such budget amendments: Funding for Strategic Plan $ 130,000 Increase in wages and benefits per new labor agreement 551,768 Reinstatement of 1.5 FTE-Parks Maintenance 117,620 Additional funding for legal matters 100,000 Additional funding for dispatch and monitoring 77,000 Additional funding for debt service 167,965 Delayed transfers to Contingency Fund (3,000,000) Increase in revenue for indirect cost allocation charge 605,618 Reduction of overbudgeted revenue for sale of capital assets (627,618) Delayed debt proceeds (1,000,000)26
CITY OF TUKWILA: 2012 CAFRMANAGEMENT’S DISCUSSION AND ANALYSISReasons for the significant variances in the general fund between the final budget and actual resultsinclude:Charges for services are down by $500,000 due to reduction in programs offered in thecommunity center with $273,000 of it from reduced revenue from licensing and permittingactivities as a result of decreased construction activities. Previously owed revenue from gambling tax were settled in 2012.The budget for proceeds from sales of capital assets was significantly higher than actualresults resulting in a negative variance of $662,000. Properties that were originallyscheduled to be sold were kept for alternative use.A contingency fund transfer of $3 million and debt proceeds of $1 million did not take placeuntil the first quarter in 2013.Capital Asset and Debt AdministrationCapital AssetsThe City’s investment in capital assets for both its governmental and business-type activities as ofDecember 31, 2012 totaled $281.8 million (net of accumulated depreciation), an increase of $4.8million, or 1.7%, from 2011. This investment in capital assets includes land, buildings, improvements,machinery and equipment, construction in progress, utility transmission/distribution systems, roads,bridges, and other infrastructure.SUMMARY OF CAPITAL ASSETS (NET OF DEPRECIATION)Governmental Activities Business-Type Activities TotalAs of 12/31/12 As of 12/31/11 As of 12/31/12 As of 12/31/11 As of 12/31/12 As of 12/31/11Land $40,501,509 $39,459,061 $2,214,118 $2,214,118 $42,715,627 $41,673,179Buildings 12,181,708 12,231,995 8,099,221 8,403,761 20,280,929 20,635,756Other Improvements 7,943,508 8,639,571 44,569,513 44,188,248 52,513,021 52,827,819Machinery and Equipment 5,597,527 6,525,286 584,202 687,756 6,181,728 7,213,042Infrastructure 104,089,598 107,103,876 - - 104,089,598 107,103,876Intangible Assets 510,592 286,711 - - 510,592 286,711Construction in Progress 47,942,200 39,453,817 7,595,365 7,850,959 55,537,566 47,304,776Total $218,766,642 $213,700,317 $63,062,420 $63,344,843 $281,829,061 $277,045,159More detailed information on capital assets is provided in Note 7.General capital outlay purchases added $273,560 in machinery and equipment. Among theseinclude a partial payment for new permitting software of $177,938, agenda manager software totaling$22,000, and various computer equipment purchases in the amount of $39,513.Many of the projects in the Arterial Street Fund are in the construction stage adding $8.3 million inconstruction in progress for the period. The major arterial street fund activities comprise of thefollowing: Tukwila Urban Center Access Project (Klickitat Southcenter Parkway/I-5 Access Revision),$2.3 million Southcenter Parkway Extension, $4.7 million Transit Center, $603,00027
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2012 Comprehensive Annual Financial Report - the City of Tukwila

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