table contents - Edmond, OK - Official Website
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Transcript of table contents - Edmond, OK - Official Website
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table of contents Edmond's Numbers 12
General Fund 14
Long-Term Debt 19
Edmond's Top Employers 20
Economic Outlook 22
Director’s Letter 2
City Council & Ward Map 5
Statement of Net Position 6
Change in Net Position 9
Edmond's Sales Tax 10
Dear Citizens of Edmond,We are pleased to present our Citizens Report for the fiscal ending June 30, 2013. This Citizen’s Report is a condensed version of our Comprehensive Annual Financial Report (CAFR), both of which are located on our website edmondok.com/budget/reports.
The details in this Citizen’s report summarize our City’s financial position based on the audited financial documents contained in the 2013 Comprehensive Annual Financial Report (CAFR). The CAFR is prepared in accordance with generally accepted accounting principles; this report is in summary form and excludes the City’s discretely presented component units: the Edmond Economic Development Authority (EEDA) and the Edmond Historical Preservation Trust (EHPT).
The City continued to improve its financial condition with unprecedented growth in its main general revenue source – sales tax. Though the budget assumed a 3% growth, the actual increase from the previous year was 12.13%. Part of this unusual increase was due to the growth in the building repair and new construction areas, as well as broad retail sales spending. Edmond also saw an increase in commercial building permits – providing more opportunities for our citizens to support the City by buying locally.
Throughout this report you will find information on the new buildings the City of Edmond either purchased or is in the process of constructing:
• a multi-million dollar Public Safety Center, construction began and will be completed 2015
• a new Mitch Park YMCA in partnership with Edmond Public Schools, City and YMCA, opening in 2014
• a new sports complex with hotel and conference building, infrastructure started
• a new office building was purchased to house our IT department
• a new softball sports park (called the Edmond 66 Park Softball Complex).
“Mapping the Growth” of Edmond is our theme for this year’s report as we share with you the growth of Edmond.
As you review the report, we invite you to share any questions, concerns or comments you may have. You may contact the Financial Services Department at 405.359.4521 or visit us at 7 North Broadway. The fully disclosed audited CAFR and summarized PAFR may be found online at edmondok.com/budget/reports.
Respectfully,
Ross VanderHammDirector of Financial Services/City Clerk
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mitch parkymca
The City of Edmond partnered with the YMCA and the Edmond Public Schools who share in the portion of the cost. The facility has an Olympic size swimming pool, fitness area, indoor elevated running track and a large separate pool with a children’s slide that seems to magically exit the building through a wall and then return to the inside for an exciting ride.
charting thegrowth
The City of Edmond operates under a Council-Manager form of government established by the 1925 Charter. The Mayor and Council are the policy-making and legislative body, and appoint the City Manager as well as the City Attorney and Municipal Judges. The City's Planning Commission, along with our many different boards and commissions, plan for the growth of our commercial and residential development.
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■ Darrell Davis Council Member Ward 3
May 2013 –17
■ Victoria CaldwellCouncil Member Ward 1
May 2 0 11 – 1 5
■ Elizabeth WanerCouncil Member Ward 2
May 2011–15
■ Nick MasseyCouncil Member Ward 4
May 2013–17
Charles LambMayor
May 2013–15
city of edmond ward map
Pennsylvania
Memorial
33rd
15th
Edmond
Danforth
Coffee Creek
Sorghum Mill
Waterloo
Western
Kelly
Boulevard
Bryant
Coltrane
Sooner
Air Depot
Midw
est
Douglas
Post
Westm
inister
Anderson
Hiwassee
Henney
Choctaw
Broadway Extension I-35
WARD 4 WARD 2
Santa Fe
WARD 3
WARD 1
Covell
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Governmental Activities Business-Type Activities Totals
2013 2012 2013 2012 2013 2012
Current assets $111,332 $92,030 $86,243 $86,245 $197,575 $178,275
Capital assets, net 253,176 227,800 210,338 202,302 463,514 430,102
Other non-current assets 10,556 9,897 7,574 8,086 18,130 17,983
Total assets 375,064 329,727 304,155 296,633 679,219 626,360
Deferred Outflows 696,561 - 1,061 697,622 -
Current liabilities 25,245 15,160 17,945 19,458 43,190 34,618
Non-current liabilities 74,844 63,784 56,515 60,893 131,359 124,677
Total liabilities 100,089 78,944 74,460 80,351 174,549 159,295
Deferred Inflows 1,923 2,184 1,296 1,632 3,219 3,816
Net assets
Invested in capital assets,
net of related debt 179,082 165,302 152,657 139,272 331,739 304,574
Restricted 77,481 65,438 13,162 12,738 90,643 78,176
Unrestricted 17,187 17,859 63,642 62,638 80,829 80,497
Total net position $273,750 $248,599 $229,461 $214,648 $503,211 $463,247
Statement of Net Position The governmental activities net position for fiscal year ending June 30, 2013, reflect an increase over prior year’s net position. The business-type activities also reflect an increase in net position. The full disclosed Statement of Net position can be located in our CAFR located at edmondok.com/budget/reports. Unrestricted net position refers to all other net position that is not restricted or invested in capital assets, net of related debt. This represents the amount of unexpended and available resources the City has in funds combined at a point in time to fund emergencies, shortfalls or other unexpected needs. This allows management to track the City’s financial position over time.
Capital Assets: The accounting treatment of property, plant and equipment (capital assets) depends on whether the assets are used in governmental fund type or propri-etary fund operations. In the government wide financial statements, property, plant and equipment are accounted for as capital assets. In the governmental fund financial statements, capital assets acquired are accounted for as capital outlay expenditures. For more information, see the City of Edmond's CAFR, notes.
Net Position invested in capital assets, net of related debt: This component of net assets consists of capital assets, including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets.
Restricted Net Position: Restricted assets include both current and non-current assets that are legally restricted as to their use such as those externally imposed by creditors, laws or regulations or by law through constitutional provisions. The primary restricted assets are related to revenue bond and promissory note trustee accounts restricted for debt service and deposits held for refund.
Investments: Securities backed by the full faith and credit of the US Government have historically been considered risk free and were not subject to credit risk ratings for disclosure purposes. In August 2011, Standard and Poor downgraded these securities to AA+. Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings.
Long-Term Debt: The long-term debt consists primarily of accrued compensated absences, general obligation bonds payable, and revenue bonds payable. This long-term debt is reported net of unamortized premiums, discounts, and amounts deferred from refunding.
Definitions
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These numbers represent the available funds to pay for emergencies, shortfalls or other unexpected
needs in both the Governmental and Business Type Activities for the fiscal year ended June 30, 2013.
bus ine s s-t ype ac tivitie sIncome from resident utility bills, public golf club and lake fees finance business-type operations.
Electricity
Water
Drainage
Wastewater
Solid Waste
KickingBird Golf Club
Arcadia Lake
gove r nme ntal ac tivitie sSales tax, franchise fees, fines, state and federal grants finance most of the City's services.
General Administrative Services
Fire
Police
Street Construction & Repair
Park Maintenance
17.1M
63.6M$
Net Position unrestricted
$
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public safetycenter
The 70,000 square foot Public Safety Center will house the Edmond Police Department, Public Safety Communications and Emergency Management functions. This building is being constructed in the location of the old Administration offices. Funding is provided through a half cent sales tax over a five year period that was approved by Edmond voters. Facility completion is slated for Fall of 2015.
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The City's business type activities reported net revenues of $16.8 million
for the year. All individual activities reported net revenue for the year
with the exception of electric operations, lake operations, and economic
development which reported net expenses of $1.5 million, $0.4 million,
and $0.4 million respectively. Significant increase in net revenue was
recognized in the water, wastewater, and sanitation operations due to
delay in capital projects and management of operating expenses. The
business-type activities’ increase in net position of $15 million represents
a 23% increase from the prior year’s change in net position which is
largely attributable to the increase in grant contributions and less
transfers out.
Revenues Expenses
$0
20132009 2010 2011 2012
40,000
20,000
60,000
80,000
100,000
120,000
140,000
In Thousands
bus ine s s-t ype ac tivitie s *
The City’s governmental activities’ increase in net position of $25
million represents a 97% increase from the prior year’s change in net
position and is primarily the result of increased tax collections and
increase in grant contributions. Total expenses for governmental
activities amounted to $70.7 million. Of these total expenses, taxes
and other general revenues funded $69.2 million, while those directly
benefiting from the program funded $16.3 million in grants and
other contributions and $10.3 million from charges for services. $0In Thousands
20132012
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2009 2010 2011
Revenues Expenses
gove r nme ntal ac tivitie s *
* This summary report excludes transfers. Transfers are used to support Government services. For full disclosure see our CAFR note section 3.F Interfund Balances and Activities.
The results indicate the City, as a whole, increased in total net position of $40 million is a combination of increased
revenue collections in taxes and grant contributions. Expenses as a whole reflected a relatively low nominal increase.
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Change in Net Position
8.25%
sale s ta x br eakdown
c it y s e rvic e s
The City levies a 3 ¾ cent sales tax on taxable sales within the
City. It is recorded as follows:
Two cents recorded within the General Fund.
One eighth cent recorded as revenue within the Park Sales
Tax Fund to account for operations and facility improvement
costs of the City’s park and recreation system.
Three quarter cent recorded as revenue within the 2000
Capital Improvement Tax Fund to account for capital
improvements as recommended to the City Council by
the Capital Projects & Financing Task Force.
One quarter cent recorded as revenue within the Fire Public
Safety Limited Tax Fund to account for improvements to the
fire department per voter approval.
One eighth cent recorded as revenue within the Police Public
Safety Limited Tax Fund to account for improvements to the
police department per voter approval.
One half cent recorded as revenue within the 2012 Capital
Improvement Tax Fund-Public Safety Center to account for
building the Public Safety Center per voter approval.
Edmond’s Sales Tax supports city services
The City provides a wide range of municipal services, including police and fire protection, the construction and
maintenance of highways, streets, and other infrastructure. The City also provides electric, water, wastewater,
drainage and solid waste services to its residents under the legal entity of the Edmond Public Works Authority
(EPWA). The City also provides a multitude of recreational and cultural events throughout the year. The City’s
Kickingbird Golf Course, Arcadia Lake and many City parks provides hours of entertainment to our citizens.
sur rounding c itie s
8.50% Mustang
8.50% Yukon
8.375% Oklahoma City
8.35% Midwest City
8.25% Moore
8.00% Norman
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gove r nme ntal r eve nue by sourc e
Sales and Use Taxes
Grants
Charges of Service
Franchise & Hotel/Motel Taxes
Other
66%18%
11%3% 2%
Where does the money come from?
59%
15%
11%
7%
5% 3%
Public Safety
Streets & Highways
General Government
Culture, Parks and Recreation
Interest on Long-Term Debt
Health & Welfare
gove r nme ntal ac tivitie s us e s
Where does the money go?
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3.42ave r age r e s pon s e time
minu te s
23c it y pl aygrounds
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46.6r e s ide nt s with
college degr e e s or highe rune mployme nt r ate
4.4 %%
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2013 2012 2011 2010 2009
5,002,157 4,551,403 4,537,796 3,872,823 4,693,039
2,340,481 2,173,006 2,344,616 2,042,573 2,015,189
1,889,896 1,891,825 1,708,104 1,974,819 1,549,305
4,135,376 3,784,739 3,288,899 3,105,684 3,231,498
4,350,720 4,164,797 3,920,453 3,098,018 3,333,924
399,249 1,020,451 1,017,337 415,073 886,650
18,117,879 17,586,221 16,817,205 14,508,990 15,709,605
2013 2012 2011 2010 2009
34,403,578 31,299,351 28,917,747 27,484,883 29,572,916
5,850,591 5,646,433 2,341,305 5,489,487 4,956,056
2,053,931 2,068,170 344,968 2,097,681 2,375,687
2,199,488 2,106,551 2,062,607 1,885,284 1,995,831
2,299,771 2,394,576 5,725,602 1,670,754 1,412,039
1,389,282 1,450,110 2,436,202 1,083,211 1,063,724
- 391,664 1,082,107 345,208 364,232
296,144 233,175 91,822 204,481 174,388
54,923 77,904 262,851 68,734 130,675
48,547,708 45,667,934 43,265,211 40,329,723 42,045,548
* These graphs do not include transfers. Chart reflects direct operating revenues and expenses.
* * Beginning in 2013, hotel/motel taxes are being accounted for in the Convention and Visitor’s Bureau fund. See our CAFR for details.
Sales and Use Taxes
Charges for Services
Fines and Forfeitures
Franchise & Public Service Tax
Intergovernmental
Licenses and Permits
* * Hotel/Motel Taxes
Miscellaneous
Investment Income
ge ne r al fund r eve nue s *
General Government
Public Safety
Health and Welfare
Culture, Parks and Recreation
Streets and Highways
Capital Outlay
ge ne r al fund e xpe nditur e s *
$0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
$35,000,000
2012 20122009 2010 2011
Sales and Use Taxes
All other Revenues
General FundThe General Fund is the primary operating fund for City services. It is used for all activities
except those legally or administratively required to be accounted for in other funds.
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General Government Includes city council, municipal court, planning, vehicle service of Citylink buses, Downtown Community Center, and airport maintenance and repairs.
Public Safety Expenditures within the funds that support the safety of our citizens, such as police, fire, emergency management, and animal welfare.
Health and Welfare Includes code enforcement, family services, and social services.
Culture, Parks and Recreation Includes maintenance and administration of 26 parks/playgrounds, pool, sports fields, Festival Marketplace, Edmond Land Conservancy Inc., recreation programs, Senior Center, Gracelawn Cemetery, and Edmond Historical Preservation and Trust.
Streets and Highways Street rehabilitation and resurfacing, and upkeep of the medians.
Capital Outlay Expenditures for assets that are intended to be held or used for an extended period of time. Includes land, land improvements, building, building improvements, machinery, equipment, and furniture and fixtures. Also includes infrastructure such as streets, sidewalks, culverts, curbs, roads and bridges. It is tangible in nature and must be in excess of $5,000 per item.
Sales and Use Taxes Of the 3 ¾ cent sales tax on taxable sales within the City, 2 cents is re-corded as revenue in the General Fund. Use tax is if you have purchased items for use in Oklahoma from retailers who do not collect Oklahoma sales tax, you owe Oklahoma use tax on those items. Use tax is paid by the buyer when the Oklahoma sales tax has not been collected by the seller. This includes purchases made from an out-of-state retailer whether by mail order, catalog, television shopping networks, radio, Internet, phone or in person.
Charges for Services Includes all revenues collected on services provided through the General Fund, such as planning filing fees, cemetery revenues, right-of-way fees, Animal Welfare fees, 911 service fee, aquatic center admissions season passes, recreation program fees and other miscellaneous charges.
Fines and Forfeitures Includes all court fines and fees, and building code violations.
Franchise & Public Service Taxes Includes fees assessed for private use of public property.
Intergovernmental Activities of two or more governments including revenues such as alcoholic beverage tax, cigarette tax, county – property resale, grants, commercial vehicle tax, and gasoline excise tax.
Licenses and Permits Includes all permits and licenses required by the City including engineering inspections fees, occupational licenses, contractor registration, food handling licenses, oil and gas fees, public safety revenues including plumbing, building, electrical, heat/air, furniture stock-ing, fixture stocking, fire permits, miscellaneous permits, contractor registration, re-inspection fees, temporary certificate of occupancy, building inspection fees, sign permits, and commercial plan review fees.
Miscellaneous Items that are not covered by any of the aforementioned categories.
Investment Income Revenue earned from our investment portfolio.
ge ne r al fund r eve nue s
ge ne r al fund e xpe nditur e s
General Fund explanation of terms
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2
route 66softballcomplex
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This first class softball facility is located at Post Road and Highway 66. This phase of the project consists of four softball fields, a playground, spectator seating, concession stand and restroom facilities. This will be the first of many uses for this 146 acre tract of land.
The ‘unassigned’ fund balance is an indication of the amount of available resources the City has at
a point in time to fund emergencies, shortfalls or other unexpected needs. In this analysis only the
General Fund information is reported. In our model, 10% is considered a minimum responsible level,
while 30% is considered responsible. As you can see by the above chart, we have tightened up and
were able to exceed that 10% responsible level. We continue to strive toward the 30% level. See our
complete disclosed information in our CAFR, Basic Financial Statements.
3
6
9
12
15
0%2009 2010 2011 20132012
General Fund unassigned fund balance
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city of edmond informationtechnology
B U I L D I N G
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City of Edmond purchased a new building to house our Information Technology’s department. With the growth of Edmond, our IT department provides continuous connectivity between all departments and our citizens.
r eve nue bonds payable: bus ine s s-t ype ac tivitie s * All bonds are secured by utility revenues
Utility System Original Refunding Bonds Issue Amount Original Date Final Maturity Total
2003A $ 6,615 11/1/2003 1/1/2014 $ 775 2003B 2,120 11/1/2003 1/1/2024 1,370 2004 14,700 6/1/2004 1/1/2024 10,240 2005 40,435 10/1/2005 7/1/2024 30,015 $42,400
gove r n m e ntal bu s i n e s s -t y p e $ in Thousands ac tiviti e s ac tiviti e s Totals
2013 2012 2013 2012 2013 2012 % of Change
Accrued absences
Revenue bonds*
Note payable
Total
Series Sales Tax & Original Utility System Bonds Issue Amount Original Date Final Maturity Total
2004 20,000 6/1/2004 7/1/2024 13,035 2005 30,000 12/1/2006 7/1/2026 22,515 2010 13,900 12/30/2010 7/1/2021 10,970 2012 13,255 8/16/2012 7/1/2023 13,030 2013 13,710 5/14/2013 7/1/2023 13,710
$73,260
r eve nue bonds payable: gove r nme ntal ac tivitie s * All bonds are secured by utility revenues and pledged sales tax
$ in Thousands
$ in Thousands
$2,993 $2,761 $573 $539 $3,566 $3,300 8%
73,260 62,750 42,400 46,625 115,660 109,375 6%
17,891 19,011 17,891 19,011 -6%
$76,253 $65,511 $60,864 $66,175 $137,117 $131,686 4%
Long-Term DebtAt fiscal year end, the City had $137.1 million in long-term debt outstanding which represents
a $5 million or 4% increase from the prior year.
On August 16, 2012 the City issued $13.255 million series 2012 Sales Tax and Utility Revenue Bonds with an interest rate of 2.06 percent to advance refund $11,960,000 of outstanding 2003 Series Sales Tax and Utility Revenue Bonds with an average interest rate of 4.38 percent. The net proceeds of $12,477,000(after payment o f $213,609 of issuance cost and $1,250,168 to a construction account) plus additional $685,835 of 2012 Series fund monies were used to purchase U.S. Government securities. More information regarding the City’s debt can be found in section 3.E Long Term Debt in the CAFR located at edmondok.com/budget/reports.
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Edmond Public Schools
University of Central Oklahoma
City of Edmond
Adfitech
OU Medical Center Edmond 1
Petra Industries
Remy International 2
Integris Health Edmond
Pelco Products
Innovative Healthcare Systems
Cox Communications
Ben E. Keith
Edmond's Top Employers
2,191
2,629
1,009
1,255
642
665
250
622
189
350
448
430
300
107
295
147
290
250*
133 85
'06
'13The information above is provided by the Edmond Economic Development Authority. All companies listed in the Top Employers section are headquartered in the City of Edmond and must meet this criteria to be included in this report.
NOTE: Information for ten years ago is unavailable. The earliest figures available were used. 1 Formerly Edmond Medical Center. 2 Formerly Unit Parts. 3 * Ben E. Keith is located out of City of Edmond limits but was included in 2006 data, this company is still in business, we are only including those within the City limit.
Source: Edmond Economic Development Authority
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Healthy Growth in EducationThe City of Edmond had an increase in enrollment of 600+ students from FY12 to FY13.
23,089sc hool e nrollme nt
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This chart reflects the actual amount of sales tax the General Fund received for the last 5 fiscal
years ending June 30, 2013. The sales tax revenues collected for 2014 thus far has shown a
slight decrease compared to last year for the first 6 months actuals. However, the actual sales
tax collections is approximately 10% above the projected budget FY13-14 amount. Edmond
has experienced many years of a growing and vibrant economy but in the past several years
there were variances in key sectors of the community. For example, housing has increased
since its low 5 years ago. Also with the close of 2013, the market has significantly increased
the number of new single family residential permits compared to 2012.
$ In Millions
JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
1.5
2.0
2.5
3.0
F Y09 F Y11 F Y13 F Y14F Y10 F Y12
f y0 9 – 14 ge ne r al fund's sale s ta x | Ac t ual s
Economic Outlook
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Outstanding Achievement
The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for
Outstanding Achievement in Popular Annual Financial Reporting to the City of Edmond, Oklahoma for its Popular
Annual Financial Report for the fiscal year ended June 30, 2012. The Award for Outstanding Achievement in Popular
Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for
preparation of state and local government popular reports.
In order to receive an Award for Outstanding Achievement in Popular Annual Financial Reporting, a government
unit must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity,
presentation, understandability and reader appeal.
An Award for Outstanding Achievement in Popular Annual Financial Reporting is valid for a period of one year only.
We believe our current report continues to conform to the Popular Annual Financial Reporting requirements, and we
are submitting it to GFOA.
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City of Edmond, Oklahoma Fiscal Year Ending June 30, 2013
2013 citizen's report
7 North Broadway • Edmond, Oklahoma 73034
(4 05) 359 – 4521 • edmondok.com
