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?