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Home My WebLink About45 - NB-6 - Attachment D - 2/4/2014Cash Flow Projection Projection includes $2,000,000 annual increase in Property Tax and Sales Tax, per HDL forecast Analysis adjusted CIP of $3.935 million from July to December. Attachment D Actual Actual Actual Actual Actual Actual Projected Projected Projected Projected Projected Projected Bi -weekly Retirement Contribution Jul -13 Aug -13 Sep -13 Oct -13 Nov -13 Dec -13 Jan -14 Feb -14 Mar -14 Apr -14 May -14 Jun -14 Revenue Total Property Tax (28,328) 210,364 556,940 149,531 1,759,259 9,144,361 1,801,000 132,500 1,082,000 6,986,000 1,289,500 679,500 Property Tax In -Lieu of VLF Sales Tax 33,137 6,029 28,834 7,764 38,812 4,320,000 - - 14,000 4,331,000 35,000 Sales & Use Tax (3,171,647) 3,164,600 3,159,501 2,384,851 3,188,400 3,755,293 2,521,000 3,180,000 3,167,000 2,158,000 2,872,000 8,913,000 Sales Tax In -Lieu - - - - - 5,792,619 - - - 5,509,378 933 Transient Occupancy Tax 714,810 803,629 604,613 611,574 548,114 473,000 485,000 616,000 656,000 628,000 1,323,000 Rental - Golf Course Operations - 235,689 205,432 182,738 155,182 156,140 160,000 153,000 153,000 181,000 170,000 418,000 Total Other Revenue 66,245 1,255,141 1,443,700 1,065,518 1,103,276 733,885 935,381 1,135,500 1,356,000 2,672,000 1,369,122 1,966,567 Total Revenue (3,133,730) 5,613,741 6,175,231 4,416,085 6,825,455 14,376,605 16,003,000 5,086,000 6,374,000 12,667,000 16,169,000 13,336,000 Expenditure Payroll Expenditure 1,673,064 5,221,313 3,271,247 3,332,129 3,288,162 3,614,355 3,294,000 3,291,000 4,948,000 3,260,000 3,356,000 4,942,000 Retirement Expenditure 633,777 1,806,559 1,243,065 1,190,015 1,210,376 1,249,590 1,111,000 1,099,000 1,621,000 1,046,000 1,073,000 1,607,000 Total other Expenditure 5,382,067 2,375,609 5,593,774 2,813,954 2,091,151 2,133,992 3,187,000 2,058,000 6,573,000 2,621,000 5,426,000 3,880,000 Total Expenditure 7,688,908 9,403,481 10,108,086 7,336,098 6,589,689 6,997,937 7,592,000 6,448,000 13,142,000 6,927,000 9,855,000 10,429,000 Net Cash Flow (10,822,638) (3,789,740) (3,932,855) (2,920,013) 235,766 7,378,668 8,411,000 (1,362,000) (6,768,000) 5,740,000 6,314,000 2,907,000 FY Cumulative Cash Flow (10,822,638) (14,612,378) (18,545,233) (21,465,246) (21,229,480) (13,850,812) (5,439,812) (6,801,812) (13,569,812) (7,829,812) (1,515,812) 1,391,188 General Fund Balance 31,404,456 27,614,716 23,681,861 20,761,848 20,997,614 28,376,282 36,787,282 35,425,282 28,657,282 34,397,282 40,711,282 43,618,282 Projected Projected Projected Projected Projected Projected With Prepayment Jul -13 Aug -13 Sep -13 Oct -13 Nov -13 Dec -13 Jan -14 Feb -14 Mar -14 Apr -14 May -14 Jun -14 Revenue Total Property Tax (29,521) 219,220 580,387 155,826 1,833,324 9,529,339 1,876,822 138,078 1,127,552 7,280,111 1,343,788 708,107 Property Tax In -Lieu of VLF Sales Tax 33,137 6,029 28,834 7,764 38,812 4,320,000 - - 14,000 4,331,000 35,000 Sales & Use Tax (3,261,405) 3,254,158 3,248,915 2,452,342 3,278,632 3,861,568 2,592,344 3,269,994 3,256,626 2,219,071 2,953,278 9,165,238 Sales Tax In -Lieu - - - - - 5,792,619 - - - 5,509,378 933 Transient Occupancy Tax 714,810 803,629 604,613 611,574 548,114 473,000 485,000 616,000 656,000 628,000 1,323,000 Rental - Golf Course Operations - 235,689 205,432 182,738 155,182 156,140 160,000 153,000 153,000 181,000 170,000 418,000 Total Other Revenue 66,245 1,255,141 1,443,700 1,065,518 1,103,276 733,885 935,381 1,135,500 1,356,000 2,672,000 1,369,122 1,966,567 Total Revenue (3,224,680) 5,712,156 6,288,092 4,489,872 6,989,752 14,867,857 16,150,166 5,181,572 6,509,178 13,022,182 16,304,566 13,616,845 Expenditure Payroll Expenditure 1,673,064 5,221,313 3,271,247 3,332,129 3,288,162 3,614,355 3,294,000 3,291,000 4,948,000 3,260,000 3,356,000 4,942,000 Retirement Expenditure 13,702,111 400,972 400,972 400,972 400,972 400,972 400,972 400,972 400,972 400,972 400,972 400,972 Total other Expenditure 1,447,067 2,375,609 5,593,774 2,813,954 2,091,151 6,068,992 3,187,000 2,058,000 6,573,000 2,621,000 5,426,000 3,880,000 Total Expenditure 16,822,242 7,997,894 9,265,993 6,547,055 5,780,285 10,084,319 6,881,972 5,749,972 11,921,972 6,281,972 9,182,972 9,222,972 Net Cash Flow (20,046,922) (2,285,739) (2,977,901) (2,057,184) 1,209,466 4,783,538 9,268,194 (568,400) (5,412,794) 6,740,210 7,121,593 4,393,873 FY Cumulative Cash Flow (20,046,922) (22,332,661) (25,310,562) (27,367,746) (26,158,279) (21,374,741) (12,106,547) (12,674,947) (18,087,741) (11,347,531) (4,225,938) 167,935 General Fund Balance 22,362,072 20,076,333 17,098,432 15,041,249 16,250,715 21,034,253 30,302,447 29,734,047 24,321,254 31,061,463 38,183,057 42,576,929 Projection includes $2,000,000 annual increase in Property Tax and Sales Tax, per HDL forecast Analysis adjusted CIP of $3.935 million from July to December.