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Home My WebLink About2018-08 Financial Report TOWN OF ITHACA FINANCIAL REPORTS FOR THE MONTH ENDED AUGUST 31 , 2018 REPORTS: BALANCE SHEET REVENUE & EXPENSE SUMMARY and CASH & CASH EQUIVALENTS DETAILED CASH LISTING FOR FIDUCIARY FUNDS SUMMARY OF BANK COLLATERAL TOWN OF ITHACA BALANCE SHEET FOR THE MONTH ENDED AUGUST 31, 2018 GENERAL GENERAL HIGHWAY HIGHWAY WATER SEWER DESCRIPTION TOWNWIDE PART-TOWN TOWNWIDE PART-TOWN FUND FUND FUND FUND FUND FUND ASSETS UNRESERVED CASH: CASH S 2,438,226 S 1,200,765 S 412,681 $ 2,329,607 $ 915,811 $ 2,617,1211 INVESTMENTS - - - - - PETTY CASH 700 - 200 TOTAL-UNRESERVED CASH S 2,438,926 S 1,200,765 S 412,681 $ 2,329,807 $ 915�,811 S 2,617,121 RESERVED CASH: PARKS&OPEN SPACE PLAN S 831,905 $ $ $ - $ - S - GENERAL PURPOSE BENEFIT 165,532 69,427 79,364 23,824 12,040 HIGHWAY EQUIPMENT - - 25'6,735 - PRESERVE MAINTENANCE 40,149 - LAND STEWARDSHIP 9,849 INVESTMENTS - FIDUCIARY FUNDS 4,423 - - TOTAL-RESERVED CASH $ 1,051,859 $ 69,427 $ - $ 336,0199 $ 23,824---$ 112,040 OTHER ASSETS: ACCOUNTS RECEIVABLE s - $ - S - $ - S $ 2,259 WATER& SEWER RECEIVABLES - - 29,865 44,170 DUE FROM OTHER FUNDS 2,000,000 14,738 2,730,,305 - STATE& FEDERAL AID RECEIVABLE - - - - DUE FROM OTHER GOWTS - 29,400 24,737 PREPAID EXPENSES 7,692 - TAXES RECEIVABLE-CURRENT - - TOTAL-OTHER ASSETS S 2,007,692 $ 29,400 $ 14,738 $ 2,784,906 S 46,429 TOTAL ASSETS S 5,498,476 $ 112995.92_==j====412,6=81 $ 2,680,644 $. 3,724,541 $ 2,675,589 LIABiLITIES and FUND BALANCE ACCOUNTS PAYABLE S - $ - $ - S $ ACCRUED LIABILITIES 228,668 194,26'2 103,93,4 24,000 DUE TO OTHER FUNDS - 1,000,0100, - RETAINAGE DEFERRED REVENUE - - RESERVED FUND BALANCE 1,051,859 69,427 336,099 23,824 12,040 UNRESERVED FUND BALANCE 4,217,950 1,035,904 412,681 2,240,610 2,700,717 2,639,549 TOTAL LIABILITIES& FUND BALANCE 6 S 1,299,592412 _ 681 S 2,680 44 3,724,54-� S 2,675 89 ,6 5 ESTIMATED FUND BALANCE FUND BALANCE-01/01/2018 S 3,99'7,002 S 1,072,768 S - $ 2,267,511 $ 2,820,416 $ 2,763,256 ADD: REVENUE 3,977,896 938,913 968,910 2,476,660 2,433,878 1,442,492 LE9S. EXPENSE 2,705,090 906,351 556,229 2,167,462 2,529,754 1,554,159 FUND BALANCE-08/31/2018 S 5,269,809 1 105 330 $ 412.681 $ 2,576,709 $ 2,724,541 ! $ 2,6'51,589 Page 1 of 4 TOWN OF ITHACA BALANCE SHEET FOR THE MONTH ENDED AUGUST 31, 20118 CAPITAL RISK FIRE LIGHTING DEBT TRUST& DESCRIPTION PROJECTS RETENTION PROTECTION DISTRICT SERVICE AGENCY FUNDS FUND FUND FUNDS FUND FUND ASSETS UNRESERVED CASH: CASH $ 740,040 $ 146,177 $ 3,4101,026 $ 19,532 $ 791,332 S INVESTMENTS - - - - PETTY CASH - - - TOTAL-UNRESERVED CASH -S-746,-6-46 s 146,177 $ 3,410,026 $ 19,532 S 791,332 $ RESERVED CASH: PARKS& OPEN SPACE PLAN s - $ - $ $ S - $ GENERAL PURPOSE BENEFIT - HIGHWAY EQUIPMENT - PRESERVE MAINTENANCE - LAND STEWARDSHIP - FUNDS FOR BOND REFUNDING FIDUCIARY FUNDS 302,110 TOTAL- RESERVED CASH $ $ $ . $ $ $ 302,110 OTHER ASSETS: ACCOUNTS RECEIVABLE $ s - S $ CUSTOMER RECEIVABLE DUE FROM OTHER FUNDS STATE&FEDERAL AID RECEIVABLE DUE FROM OTHER GOWTS, PREPAID EXPENSES TAXES RECEIVABLE-CURRENT TOTAL-OTHER ASSETS s S s $ - TOTAL ASSETS I s 74o,040 S 146,177 $ 3,410 $ 19,532_$ 711 132 S 302,110 0126 LIABILITIES and FUND BALANCE ACCOUNTS PAYABLE s s s $ - ACCRUED LIABILITIES 302,110 DUE TO OTHER FUNDS 3,745,042 - RETAINAGE DEFERRED REVENUE RESERVED FUND BALANCE UNRESERVED FUND BALANCE (3,005,002) 146,177 3,410,026 19,532 7911,332 TOTAL LIABILITIES& FUND BA—LANCE $ 740 040 S 146.177 S 3,410,0126 S 19,53111 791,332 302,110 ESTIMATED FUND BALANCE FUND BALANCE-0110112018 $ (1,454,426) S 151,706 S 2,078,828 $ 8,809 S 228,128 $ - Am): REVENUE 100,316 79 3,277,128 19,012 1,208,499 LESS: EXPENSE 1,725,617 5,607 1,945,930 8,288 645,295 m. 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W TOWN OF ITHACA REVENUE and EXPENSE SUMMARY FOR THE MONTH ENDED AUGUST 31, 2018 GENERAL GENERAL HIGHWAY HIGHWAY WATER SEWER DESCRIPTION TOWNWIDE PART-TOWN TOWNWIDE PART-TOWN FUND FUND FUND FUND FUND FUND REVENUE BUDGETED REVENUE $ 4,560,781 $ 1,543,150 $ 810,750 $ 3,171,750 $ 4,331,208 $ 2,663,584 ACTUAL&ACCRUED 3,977,896 938,913 968,910 2,476,660 2,433,878 1,442,492 REVENUE OVER UNDER $ (582,885) $ (604,237)! $ 158,160 ! $ (695,090 $ (1,897,330) $ (1,221,092 % OF BUDGET EARNED 87.2% 60.8% 119.5% 78.1% 56.2% 54.2% ,EXPENSE BUDGETED EXPENSE $ 5,003,206 $ 1,894,070 $ 773,185 $ 3,490,313 $ 4,290,519 $ 3,302,208 ACTUAL&ACCRUED 2,705,090 906,351 556,229 2,167,462 2,529,754 1,554,159 EXPENSE OVER UNDER (2,298,117Y 987 719 ` $ (216.950 $ (1,322,851)! $ (1,760,765Y $ (1,748,049 % BUDGET EXPENDED 54.1% 47.9% 71.9% 62.1% 59.0% 47.1% ESTIMATED FUND BALANCE FUND BALANCE-01/01/2018 $ 3,997,002 $ 1,072,768 $ - $ 2,267,511 $ 2,820,416 $ 2,763,256 ACTUAL&ACCRUED ADD: REVENUE 3,977,896 938,913 968,910 2,476,660 2,433,878 1,442,492 LESS: EXPENSE 2,705,090 906,351 556,229 2,167,462 2,529,754 1,554,159 FUND BALANCE-08/31/2018 $ 5,269,809 $ 1,105,330 $ 412,681 $ 2,576,709 $ 2,724,541 i $ 2,651589 CASH and CASH EQUIVALENTS UNRESERVED CASH CASH(CHECKING/SAVINGS) $ 2,438,226 $ 1,200,765 $ 412,681 $ 2,329,607 $ 915,811 $ 1,106,067 CASH-SJC OPERATING - - - - - 1,511,054 INVESTMENTS - - - - - PETTY CASH 700 - - 200 - TOTAL-UNRESERVED CASH $ 2,438,926 $ 1,200,765 $ 412,681 $ 2,329,807 $ 915,811 $ 2,617,121 RESERVED CASH PARKS&OPEN SPACE PLAN $ 831,905 $ - $ - $ - $ - $ GENERAL PURPOSE BENEFIT 165,532 69,427 - 79,364 23,824 12,040 HIGHWAY EQUIPMENT - - - 256,735 - PRESERVE MAINTENANCE 40,149 - - - - LAND STEWARDSHIP 9,849 - - - - INVESTMENTS - - - - - FIDUCIARY FUNDS 4,423 - - - - TOTAL-RESERVED CASH $ 1,051,859 $ 69,427 $ - $ 336,099 $ 23,824 $ 12,040 TOTAL CASH-08/31/2018 3,490,784 1,270,192 412 681 2,665,906 939 635 ' 2,629161 Page 1 of 4 TOWN OF ITHACA REVENUE and EXPENSE SUMMARY FOR THE MONTH ENDED AUGUST 31, 2018 CAPITAL RISK FIRE LIGHTING DEBT TRUST& DESCRIPTION PROJECTS I RETENTION j PROTECTIONDISTRICT SERVICE AGENCY FUNDS FUND FUND FUNDS FUND FUND REVENUE BUDGETED REVENUE $ 4,100,000 S 15,000 $ 3,274,000 S 19,000 $ 1,208,144 $ - ACTUAL&ACCRUED 100,316 ; 79 3,277,128 19,012 1,208,499 i REVENUE OVER UNDER $ (3,999,684)1 $ (14,921)! $ 3,1281 $ 12 1 S 355 IS % OF BUDGET EARNED 0.0% 0.5% 100.1% 100.1% 100.0% i EXPENSE BUDGETED EXPENSE $ 2,118,000 S 15,000 $ 3,382,500 $ 17,850 $ 1,341,144 $ ACTUAL&ACCRUED 1,230,451 5,607 1,945,930 8,288 645,295 EXPENSE OVER UNDER $ (887&4g" 9 393 $ (1,436,570)1 $ (9 562)! $ (695,849)1 $ % BUDGET EXPENDED 0.0% 37.4% 57.5% 46.4% 48.1% i ESTIMATED FUND BALANCE FUND BALANCE-01/01/2018 $ (1,454,426) $ 151,706 1 $ 2,078,828 $ 8,809 $ 228,128 $ ACTUAL&ACCRUED ADD: REVENUE 100,316 79 j 3,277,128 19,012 1,208,499 LESS: EXPENSE 1,230,451 5,607 ' 1,945,930 8,288 645,295 FUND BALANCE-08/31/2018 S (2,584,561): $ 146,177 $ 3,410,026 S 19,532 $ 791,332 S CASH and CASH EQUIVALENTS i UNRESERVED CASH CASH(CHECKING/SAVINGS) $ 740,040 $ 146,177 ! $ 3,410,026 $ 19,532 $ 791,332 $ CASH-SJC OPERATING - INVESTMENTS PETTY CASH TOTAL-UNRESERVED CASH $ 740,040 i $ 146,177 ' $ 3,410,026 $ 19,532 $ 791,332 $ RESERVED CASH PARKS&OPEN SPACE PLAN $ - $ i S _ $ _ i $ _ $ GENERAL PURPOSE BENEFIT - - HIGHWAY EQUIPMENT PRESERVE MAINTENANCE LAND STEWARDSHIP FUNDS FOR BOND REFUNDING FIDUCIARY FUNDS - - - - 302,110 TOTAL-RESERVED CASH $ - Is $ - i $ - $ 302,110 TOTAL CASH-08/31/2018 IS 740,040 $ 146177 S 3,410,026 $ 19,532 $ 791 332 i $ 302,110 Page 2 of 4 O m a O Nm f0T N N • • • a CD O O a o cn m o m o v eq rn o 0 o c D o w o m m a a o t7 m o o ) t tw 000, a men w om v a ACL fro o r a o a_ w � i. m U ¢ a w O N r O r N N IL a N Vl N f9 N H N N to U W o 0 0 O � C O a 6o W N N dl IA da U � � O o 0 w o 6 ti V N h (C W 1 T W , clj ^coo ' N Ifo ' N C r r R m m m z m O C co em7 M M co O O LL H E - IA N 19 N N M N b N O r 01 O O 01 r - m a ' a U O O/ N N t7 lm7 a V N m CtoIn W = O (D a o M (p � fN0 � N N Z a m m c a Y co O = a J N o c.) n o o v m m O Mm rN- r a a N N r A a M o eoo m o a a c w H Q a Q H Z10n r a a c o s a U N LL Qy o m m o o m m m m C m O Ol N cli O N m m O F_ 0 W x � n a a a m m N W Q Y « O O SE ai O Z ALLL IL co �jZ N = t 7 W F p C O N O iOD toai N co n N N O Z m O OQ7 O m O V a N N Z O W0 x m O O c-, dF !� m N N O N r M X W Q W N (A N !A r N N to W = p H @ oror o o m r m m m C a C O QOl N N n ^N N W IL O e m m aQ w cmi '. 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CASH &CASH EQUIVALENTS $ 16,077,536 INVESTMENTS _ TOTAL CASH ON DEPOSIT S 16,077,536 LESS: FDIC INSURANCE $ 250,000 LESS: FMV OF COLLATERAL ON DEPOSIT @ 08/31/2018 U.S.GOVERNMENT AGENCY OBLIGATIONS $ 23,614,450 OVER(UNDER)COLLATERALIZED $ 7,786,914 CASH ASSETS COLLATERALIZED @ FMV 08/31/2018 149% Collateral is held by the Bank of New York,pledged for the Town of Ithaca,New York,for all deposits and/or repurchase agreements of Tompkins Trust Company. NOTE: For deposits in excess of FDIC coverage,General Municipal Law,section 10 requires that the excess amounts are to be secured by eligible collateral.