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HomeMy WebLinkAbout95.Item 6 PPP 11-14-18 Admin Committee Meeting - CAFR StaffPresenter: Lina Hsiao Accounting Supervisor Comprehensive Annual Financial Report For the Year Ended June 30, 2018 Comprehensive Annual Financial Report (CAFR) •Important to bond rating agencies and investors •Meets GFOA’s Excellence Award Standard •Fully explains the financial operations of OCSD •Prepared for the 25th consecutive year Financial Measurements Change inCash and Investments Change in Costs Change in Net Position Financial Position Available Spending Resources Financial Performance Net Position Increased $153.6 Million (in millions)PercentageIncrease Increase(Decrease)(Decrease) Assets Current & Other Assets $750.1 M $ 610.4 M $ 139.7 M 22.9 % Capital Assets, Net 2,626.0 M 2,603.4 M 22.6 M 0.9 % Deferred Outflows 83.9 M 74.6 M 9.3 M 12.7 % Total Assets/Def. Outflows $3,460.0 M $3,288.4 M $ 171.6 M 5.2 % Liabilities Current Liabilities $117.7 M $ 99.4 M $ 18.3 M 18.4 % Noncurrent Liabilities 1,083.3 M 1,118.1 M (34.8 M)-3.1 % Deferred Inflows 64.2 M 29.7 M 34.5 M 116.6 % Total Liab./Def. Inflows $1,265.2 M $ 1,247.2 M $ 18.0 M 1.4 % Net Position Net Investment in Capital Assets $1,568.1 M $ 1,504.9 M $ 63.2 M 4.2 % Unrestricted 626.7 M 536.3 M 90.4 M 16.8 % Total Net Position $2,194.8 M $ 2,041.2 M $ 153.6 M 7.5 % 2018 2017 Net Position Increased $153.6 Million Over the Prior Year Source of Funds Use of Funds + $122.7 M Prior Year Change in Net Position +5.9 M Increase in Property Taxes +4.2 M Increase in Service Charges & Fees + 1.7 M Increase in CFCC -17.5 M Decrease in Contribution from Other Government -1.9 M Decrease in Other Revenue + 42.4 M Decrease in Non-operating Expense + 4.7 M Decrease in Operating Costs -7.6 M Decrease in Beginning Net Position (GASB 75) -1.0 M Increase in Depreciation & Amort. + $153.6 M Increase in Net Position over the Prior Year $2,041 M $2,195 M$1,822 M $1,762 M $1,919 M FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 Change in Net Position –Last 5 Years +$121.6 M -$60.5 M +$156.7 M +$122.7 M +$153.6 M Cash and InvestmentsIncrease $169.4 Million Over Prior Year (in millions)6/30/2018 6/30/2017 Increase (Decrease) Percentage Increase (Decrease) Cash and Cash Equivalents $140.9 M $94.4 M $46.5 M 49.2 % Investments 539.5 M 416.6 M 122.9 M 29.5 % Total $680.4 M $511.0 M $169.4 M 33.1 % Cash and Investments Increased $169.4 Million Cash Provided by: $220.6 M Net Operating Activities 94.3 M Property Tax Revenues 20.5 M SARI Line Project Reimbursements 18.0 M CFCC Fees 7.4 M Interest received 3.4 M Contribution from other governments -5.7 M Unrealized Loss on Investments $ 358.5 M Cash Provided Cash and Investments Decreased$169.4 Million (cont’d)Cash Used by: $112.8 M Net Capital Outlay 44.2 M Debt Interest Payments 32.1 M Debt Principal Payments $ 189.1 M Cash Used Net incr. = $169.4 M (in millions) 6/30/2018 6/30/2017 Incr./(Decr) % Personnel Cost $84.0 M $91.6 M $(7.6 M)-8.2% Contr. & Prof. Svc. 28.4 M $27.2 M 1.2 M 4.2% Materials & Supplies 16.0 M 14.9 M 1.1 M 7.6% Repairs & Maint. 18.1 M 14.8 M 3.3 M 22.1% Utilities 7.3 M 6.1 M 1.2 M 19.2% Other 7.3 M 6.3 M 1.0 M 16.4% Cost Allocation (21.7 M)(20.1 M) (1.6 M)7.8% Total Oper. Expense $139.4 M $140.8 M $(1.4 M)-0.9% Collection, Treatment and Disposal Cost –Two -Years Comparison Collection, Treatment and Disposal Cost –Comparison of Budget to ActualFor the Year Ended June 30, 2018 Before Cost Allocation to CIP: Budget $171.3 M 100.0 % Actual 161.2 M 94.1 % --------------------------------- Under (Over) Budget $ 10.1 M 5.9 % Auditor’s Report Unmodified opinion on Financial Statements No report on Internal Controls as no material weaknesses or significant deficiencies were uncovered. Questions?