monthly financial report for november

Lake Havasu City Arizona

monthly financial report

highlights of the financial activities of lake havasu city

during the month of

November 2014 unaudited

prepared by the administrative services department

Lake Havasu City Management’s Dicussion and Analysis

i

General Fund

Revenue

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Taxes 8,700,867$ 8,793,050$ 8,638,252$ (154,798)$ (1.8%) (62,615)$ (0.7%)Licenses and Permits 560,244 681,990 584,756 (97,234) (14.3%) 24,512 4.4%Intergovernmental 5,461,458 5,950,305 5,734,777 (215,528) (3.6%) 273,319 5.0%Charges for Services 454,654 449,085 362,344 (86,741) (19.3%) (92,310) (20.3%)Fines and Forfeitures 513,766 508,745 475,562 (33,183) (6.5%) (38,204) (7.4%)Investment and Rental 183,462 144,960 135,051 (9,909) (6.8%) (48,411) (26.4%)Miscellaneous 18,516 68,160 76,371 8,211 12.0% 57,855 312.5%Other Financing Sources 4,905,649 1,057,075 1,045,212 (11,863) (1.1%) (3,860,437) (78.7%)Total 20,798,616$ 17,653,370$ 17,052,325$ (601,045)$ (3.4%) (3,746,291)$ (18.0%)

Total General Fund revenue is below the budgeted amount by $601,045; the largest variance is in Intergov-ernmental Revenue, followed by Tax Revenue. The total revenue is significantly below last year for this same period. This is due to one-time lease proceeds in the Other Financing Sources for the purchase of several fire apparatus last fiscal year.

Tax revenue is below budget by $154,798; this includes a favorable variance in Sales Tax of $181,930 and an unfavorable variance in Other Taxes of $336,728. Within this category, Franchise taxes are over budget and Property taxes are under budget. Both of these are due to timing differences in the recording of the transac-tions. Tax revenue is below last year by $62,615 for this same period.

License and Permit revenue is below budget by $97,234; Business Licenses are below budget by $141,525. The annual business license renewal program is underway and the revenue is expected to increase. Other license and permit revenue is above the budgeted amount by $44,291, mainly in zoning fees, building permits and plan check fees. The revenue is $24,512 above last year for this same period.

Intergovernmental revenue is below budget by $215,528; the revenue from the Auto Lieu Tax is under the budgeted amount by $119,327, and the State Shared Sales Tax numbers are below budget by $90,452. Inter-governmental revenue is above last year by $273,319 for this same period.

Charges for Services revenue is below budget by $86,741; Culture and Recreation has a negative variance of $52,829, mostly attributed to lower program donations, and fewer beverage sales and SARA park fees. Pub-lic Safety revenue from services is under budget by about $18,526. Charges for Services revenue is below last year by $92,310 for this same period.

Fines and Forfeiture revenue is under budget by $33,183; court fees are the main contributor to the negative variance. This revenue is below the prior year by $38,204 for the same period.

Investment and Rental revenues are under the budgeted amount by $9,909. This revenue is $48,411 less than last year for this same period.

Miscellaneous revenue is above the budgeted amount by $8,211; this is higher than last year by $57,855.

Other Financing Sources revenue is currently under budget by $11,863; the amount is $3.8 million below last year due to lease financing agreements in the previous fiscal year for capital purchases.

Lake Havasu City Management’s Dicussion and Analysis

ii

Expenditures

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Personnel Services 12,304,113$ 14,046,821$ 13,015,853$ 1,030,968$ 7.3% (711,740)$ (5.8%)Operating Expenditures 2,026,246 3,055,139 2,638,285 416,854 13.6% (612,039) (30.2%)Capital Expenditures 3,471,926 667,266 613,641 53,625 8.0% 2,858,285 82.3%Transfers Out 868,750 2,590,184 3,205,833 (615,649) (23.8%) (2,337,083) (269.0%)Total 18,671,035$ 20,359,410$ 19,473,612$ 885,798$ 4.4% (802,577)$ (4.3%)

Total Expenditures 2,127,581$ (2,706,040)$ (2,421,287)$ Total Revenues Over/(Under)

Total General Fund expenditures are under budget by $885,798; the largest favorable variances are in Personnel Service and Operating expenditures, the unfavorable variance is in the Transfers Out. The total expenditures are $802,577 higher than last year for this same period.

Personnel Services expenditures are under the budgeted amount by $1,030,968; Salary and Wages account for $561,958 and the related Benefit amount is about $469,010. The expenditures are $711,740 higher than last year at this same time.

Operating expenditures are under budget by $416,854; Purchased services and Supplies are over budget by $187,654. Miscellaneous expenditures and Contingency are under budget. Operating expenditures are $612,039 above last year for this same period.

Capital expenditures are under budget by $53,625; the expenditures are $2,858,285 below last year for this same period. This variance is due to the purchase of fire apparatus last fiscal year.

As revenues and expenditures are monitored, it is important to review the City’s position of total revenues over (under) total expenditures to ensure the City is in compliance with policy. Over the last several years, operations have been fully funded by revenues received in the current year. The current actual-to-date expenditures exceed revenues by $2,421,287.

Highway Users Revenue Fund (HURF)

Revenues

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Highway Users Revenue 1,735,112$ 1,833,964$ 1,856,472$ 22,508$ 1.2% 121,360$ 7.0%Charges for Services 4,344 6,665 11,291 4,626 69.4% 6,947 100.0%Investment Earnings 22,924 14,578 10,367 (4,211) (28.9%) (12,557) (54.8%)Miscellaneous 137 - 680 680 0.0% 543 396.4%Transfers In 437,500 229,166 229,167 1 0.0% (208,333) (47.6%)Total 2,200,017$ 2,084,374$ 2,107,977$ 23,603$ 1.1% (92,040)$ (4.2%)

Total HURF revenue is over the budgeted amount by $23,603; most of this favorable variance is from state shared revenue. The total revenue is $92,040 below last year for this same period.

Lake Havasu City Management’s Discussion and Analysis

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Highway User revenue is $22,508 higher than the budgeted amount; collections each month have been a little more than the budgeted amount. The Highway User revenue is above last year by $121,360 for this same period.

Charges for Services revenue is over budget by $4,626; proceeds from insurance reimbursement account for this favorable variance. The revenue is $6,947 above last year for this same period.

Investment Earnings revenue is below budget by $4,211. This revenue is $12,557 less than last year for this same period.

Transfers In revenue is at the budgeted amount. The revenue is $208,333 below last year at this same time due to flood control funding being reallocated to the General Fund in FY 2014-15.

Expenditures

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Personnel Services 590,236$ 680,930$ 586,270$ 94,660$ 13.9% 3,966$ 0.7%Operating Expenditures 1,135,688 1,804,540 949,859 854,681 47.4% 185,829 16.4%Capital Expenditures - 10,416 6,824 3,592 34.5% (6,824) 0.0%Total 1,731,538$ 2,495,885$ 1,542,953$ 952,932$ 38.2% 188,585$ 10.9%

Total Revenues Over/(Under) Total Expenditures 468,479$ (411,511)$ 565,024$

Total HURF expenditures are under budget estimates by $952,932; the biggest part of this favor-able variance is within the Operating Expenditures. The total expenditures are $188,585 less than last year for this same period.

Personnel Services expenditures are under budget by $94,660; Salary and Wages account for $65,886 and the related benefit amount is $28,774. Fewer wages and benefit are being expended towards HURF than originally budgeted. The expenditures are $3,966 below last year.

Operating expenditures are below the budgeted amount by $854,681; Repairs and Maintenance Services are under budget by $755,000 due to minimal street maintenance activity so far this year. Maintenance and Operational Supplies account for the remaining favorable variance. The Operat-ing expenditures are $185,829 below last year for this same period.

Capital expenditures are under budget by $3,592. The expenditures are $6,824 more than last year for this same period.

As revenues and expenditures are monitored, it is important to review the City’s position of total revenues over (under) total expenditures to ensure the City is in compliance with policy. Over the last few fiscal years, operations have been partially funded by fund balance, with a budget-to-date amount of $411,511 this year. The current actual-to-date reflects revenues exceeding expenditures by $565,024.


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Wastewater Fund

Revenues

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Intergovernmental -$ 61,875$ -$ (61,875) 0.0% - 0.0%Charges for Services 9,296,022 9,610,995 9,598,236 (12,759) (0.1%) 302,214 3.3%Investment Earnings 536,253 392,490 225,814 (166,676) (42.5%) (310,439) (57.9%)Miscellaneous Revenue 32,994 26,530 27,401 871 3.3% (5,593) (17.0%)Contributed Capital 291,875 204,161 243,813 39,652 19.4% (48,062) (16.5%)Total 10,157,144$ 10,296,051$ 10,095,264$ (200,787)$ (2.0%) (61,880)$ (0.6%)

Total Wastewater revenue is below budget by $200,787; Investment Earnings and Intergovernmental account for the unfavorable variance. The total revenue is $61,880 lower than last year for this same

Intergovernmental revenue is below budget by $61,875; there has been no activity for the reporting period related to grants.

Charges for Services revenue is $12,759 below the budgeted amount; Wastewater user charges are below budget and Effluent Sales are over budget. The revenue is $302,214 higher than last year for this same period.

Investment Earnings revenue is under budget $166,676. This revenue is $310,439 less than last year for this same period.

Contributed Capital revenue is above the budgeted amount by $39,652; Treatment Capacity Fees are over the budgeted amount by about $40,000 and the Loan Interest revenue is below budget by $19,017. The Contributed Capital revenue is $48,062 below last year for this same period.

Expenses

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Personnel Services 883,907$ 1,039,330$ 934,057$ 105,273$ 10.1% (50,150)$ (5.7%)Operating Expenses 1,836,974 2,331,486 1,788,290 543,196 23.3% 48,684 2.7%Other Expenses 3,281,133 4,801,660 4,141,725 659,935 13.7% (860,592) 0.0%Capital Expenses 962,733 1,839,776 979,113 860,663 46.8% (16,380) (1.7%)Debt Service 10,525,666 10,924,520 10,223,424 701,096 6.4% 302,242 2.9%Transfers Out 34,856 96,665 (6,209) 102,874 106.4% 41,065 0.0%Capitalized Expenses (10,474,415) - (9,969,299) N/A N/A N/A N/ATotal 7,050,854$ 21,033,437$ 8,091,100$ 2,973,038$ 14.1% (1,040,246)$ (14.8%)

Total Revenues Over/(Under) Total Expenses 3,106,290$ (10,737,386)$ 2,004,164$


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Total Wastewater expenses are under the budgeted amount by $2,973,038; Capital and Debt Ser-vice Expenses have the highest favorable variances. The total expenses are $1,040,246 lower than last year for this same period.

Personnel Services expenses are below budget by $105,273; Salary and Wages account for $84,894 of the favorable variance, and the related Benefits of $20,379. The expenses are $50,150 higher than last year for this same period.

Operating expenses are below budget by $543,196; Expenses for Maintenance, Repairs, and Sup-plies, are all well below budget. Due to the nature of these expenses, it is typical to see fluctuations throughout the year. The Operating expenses are $48,684 higher than last year for this same period.

Other expenses are under the budgeted amount by $659,935; Depreciation expense is below budget by $442,415 (depreciation expense is estimated each month on prior year’s actual) and Contingen-cy expenses are under budget by $147,915. The expenses are $860,592 lower than last year for this same period.

Capital expenses are below budget by $860,663; Wastewater project improvements, pump station rehabilitation and replacements are scheduled to occur throughout the fiscal year. The expenses are $16,380 less than last year for the same period.

As revenues and expenditures are monitored, it is important to review the City’s position of total revenues over (under) total expenditures to ensure the City is in compliance with policy. The cur-rent actual-to-date reflects revenues exceeding expenditures by $2,004,146.

Irrigation and Drainage District Fund (IDD)

Revenues

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Intergovernmental 2,325,346$ 2,368,563$ 1,619,959$ (748,604)$ (31.6%) (705,387)$ (30.3%)Charges for Services 5,046,727 4,332,375 4,929,168 596,793 13.8% (117,559) (2.3%)Proceeds from Capital Debt - 1,380,226 1,402,453 22,227 1.6% 1,402,453 0.0%Investment Earnings 164,332 107,870 95,141 (12,729) (11.8%) (69,191) (42.1%)Miscellaneous 59,302 - - - 0.0% (59,302) (100.0%)Contributed Capital 409,244 33,379 20,698 (12,681) (38.0%) (388,546) 0.0%Total 8,004,951$ 8,222,414$ 8,067,419$ (154,995)$ (1.9%) 62,468$ 0.8%

Total IDD Fund revenue is below budget by $154,995; Intergovernmental is under budget and Charges for Services and Proceeds from Capital Debt are both over budget. The total IDD Fund revenue is $62,468 above last year for this same period.

Intergovernmental revenue is under the budgeted amount by $748,604; this unfavorable variance is due to the timing difference of recording the Property Tax revenue. Intergovernmental revenue is $705,387 below last year for this same period.


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Charges for Services revenue is over budget by $596,793; Water Sales are over budget by approx-imately $494,332. Meter Fees and Late Penalty Fees are also above the budgeted amount. The revenue is $117,559 below last year for this same period.

Proceeds from Capital Debt revenue is over budget by $22,227; this favorable variance is due to water improvement projects utilizing borrowing having more activity year to date than budgeted. The revenue is $1,402,453 above last year for this same period.

Investment Earnings revenue is under the budgeted amount by $12,729. This revenue is $69,191 below last year for this same period.

Contributed Capital revenue is under budget by $12,681. This revenue is $388,546 below last year for this same period.

Expenses

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Personnel Services 1,185,101$ 1,474,265$ 1,217,245$ 257,020$ 17.4% (32,144)$ (2.7%)Operating Expenses 2,129,101 2,297,360 2,088,720 208,640 9.1% 40,381 1.9%Other Expenses 723,046 1,197,215 898,826 298,389 24.9% (175,780) 0.0%Capital Expenses 899,194 5,158,610 1,948,000 3,210,610 62.2% (1,048,806) (116.6%)Debt Service 401,924 399,132 9,824 389,308 97.5% 392,100 97.6%Transfers Out 1,100,151 1,210,410 2,379,822 (1,169,412) (96.6%) (1,279,671) (116.3%)Capitalized Expenses (927,722) - - N/A N/A N/A N/ATotal 5,510,795$ 11,736,993$ 8,542,437$ 3,194,556$ 27.2% (3,031,642)$ (55.0%)

Total Revenues Over/(Under) Total Expenses 2,494,156$ (3,514,578)$ (475,018)$

Total IDD Fund expenses are $3,194,556 under the budgeted amount. The majority of the fa-vorable variance is in Capital expenses followed by Other expenses. The total IDD expenses are $3,031,642 above last year for this same period.

Personnel Service expenses are under budget by $257,020; Salary and Wages are under budget about $167,000 and Benefits are under budget the remaining $90,000. The expenses are $32,144 below last year for this same period.

Operating expenses are below the budgeted amount by $208,640; Expenses for Maintenance, Re-pairs, and Supplies, are below budget by approximately $238,871. General Insurance and Claims expenses are over the budgeted amount by $108,694. The Operating expenses are $40,381 less than last year for this same period.

Other expenses are under budget by $298,389; Depreciation expense is below budget by $108,869 (depreciation expense is estimated each month on prior year’s actual) and Contingency is under budget by $114,580. The Other expenses are $175,780 above the same period last year.


vii

Capital expenses are under budget by $3,210,610; the favorable variance is related to various wa-ter improvement projects that are scheduled for this fiscal year but have had minimal activity to date. The expenses are $1,048,806 more than last year for this same period.

As revenues and expenditures are monitored, it is important to review the City’s position of total revenues over (under) total expenditures to ensure the City is in compliance with policy. The cur-rent actual-to-date reflects expenses exceeding revenues by $475,018.

Refuse Fund

Revenues

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Charges for Services 2,405,190$ 2,438,060$ 2,343,539$ (94,521)$ (3.9%) (61,651)$ (2.6%)Investment Earnings 53,510 22,915 19,127 (3,788) (16.5%) (34,383) (64.3%)Total 2,458,700$ 2,460,975$ 2,362,666$ (98,309)$ (4.0%) (96,034)$ (3.9%)

Total Refuse Fund revenue is under the budgeted amount by $98,309; Charges for Services rev-enue is the major contributor to this negative variance. The total revenue is $96,034 below last year for this same period.

Charges for Services revenue is below budget by $94,521; Trash Fees are below budget by ap-proximately $55,000. All the related revenues are below budget by the remaining amount. The revenue is $61,651 below last year for this same period.

Investment Earnings revenue is below budget by $3,788. This revenue is $34,383 less than last year for this same period.

Expenditures

2013-14 2014-15 Actual vs Budget Actual vs Prior YearDescription Actual Budget Actual Fav(Unf) % Fav(Unf) %Operating Expenses 2,117,031$ 2,231,995$ 2,160,976$ 71,019$ 3.2% (43,945)$ (2.1%)Other Expenses 392 485 490 (5) (1.0%) (98) (25.0%)Transfers Out 1,830,070 200,000 32,549 167,451 83.7% 1,797,521 98.2%Total 3,947,493$ 2,432,480$ 2,194,015$ 238,465$ 9.8% 1,753,478$ 44.4%

Total Revenues Over/(Under) Total Expenses (1,488,793)$ 28,495$ 168,651$

Total Refuse Fund expenditures are under budget by $238,465; both Operating and Transfers Out are below the budgeted amounts. The expenditures are $1,753,478 below last year for this same period.

Operating expenditures are under the budgeted amount by $71,019 because the landfill closure liability will not be posted until December; Professional Services are below budget by approxi-mately $58,000. The expenditures are $43,945 more than last year for this same period.


Transfers Out expenditures are below budget by $167,451. The expenditures are $1,797,521 below last year for this same period. The variance is because only one of the four planned CIP projects this year has started.

As revenues and expenditures are monitored, it is important to review the City’s position of total revenues over (under) total expenditures to ensure the City is in compliance with policy. The current actual-to-date reflects revenues exceeding expenditures by $168,651.

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Lake Havasu City General Fund - Unaudited

Balance SheetLake Havasu City

General Fund - UnauditedBalance Sheet

November 30, 2014 November 30, 2013

Current AssetsCash and Investments 22,276,941$ 19,946,064$ Receivables

Accounts Receivable 213,177 363,855 Taxes Receivable 3,156,781 2,700,321 Intergovernmental 1,770,927 2,468,280 Interest Receivable 26,408 17,487

Inventories 156,563 193,841 Prepaid Items 300,897 260,116

Total Assets 27,901,694$ 25,949,964$

Current LiabilitiesAccounts Payable 821,021$ 741,551$ Accrued Payroll 132,874 100,262 Interest Payable 52,678 24,382 Intergovernmental Payable 13,529 13,010 Deferred Revenue 3,147,208 2,733,095 Retainage Payable - 153,886 Performance Bonds Payable 57,693 33,177 Customer Deposits - -

Total Liabilities 4,225,003 3,799,363

RestrictedReserve for Encumbrances 2,273,939 2,245,778 Reserve for Inventory/Prepaids 457,460 455,021

Unrestricted Fund Balance 20,945,292 19,449,802

Total Fund Balance 23,676,691 22,150,601

Total Liabilities and Fund Balance 27,901,694$ 25,949,964$

LIABILITIES

FUND BALANCE

ASSETS

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Lake Havasu City General Fund - Unaudited

Summary of Revenues and ExpendituresFor the Month Ended November 30, 2014 - 58% of the Year

Lake Havasu CityGeneral Fund - Unaudited

Summary of Revenues and ExpendituresFor the Month Ended November 30, 2014 - 58% of the Year Remaining

Annual Amount Unrealized %Budget Estimate Actual Estimate Actual Encumbered Balance Remaining

Revenues by CategorySales Tax 14,754,785$ 1,229,567$ 883,241$ 6,147,835$ 6,329,765$ 6,045,289$ 8,425,020$ 57.10%Other Taxes 6,348,530 529,043 1,135,825 2,645,215 2,308,487 2,655,578 4,040,043 63.64%Licenses and Permits 1,636,839 136,398 101,359 681,990 584,756 560,244 1,052,083 64.28%Intergovernmental Revenue 14,280,757 1,190,061 1,132,805 5,950,305 5,734,777 5,461,458 8,545,980 59.84%Charges for Services 1,077,936 89,817 64,730 449,085 362,344 454,654 715,592 66.39%Fines and Forfeitures 1,221,020 101,749 79,047 508,745 475,562 513,766 745,458 61.05%Rents and Royalties 122,928 10,243 7,778 51,215 47,017 38,986 75,911 61.75%Investment Earnings 225,000 18,749 13,282 93,745 88,034 144,476 136,966 60.87%Miscellaneous Revenue 163,622 13,632 13,866 68,160 76,371 18,516 87,251 53.32%Transfers In 2,537,000 211,415 208,334 1,057,075 1,045,212 999,070 1,491,788 58.80%Other Financing Sources - - - - - 3,906,579 - 0.00%

Total Revenues 42,368,417$ 3,530,674$ 3,640,267$ 17,653,370$ 17,052,325$ 20,798,616$ 25,316,092$ 59.75%

Expenditures by DepartmentCity Council 248,333$ 20,685$ 15,061$ 103,425$ 112,410$ 112,272$ 299$ 135,624$ 54.61%City Clerk 392,949 32,736 18,180 163,680 153,239 123,661 25,113 214,597 54.61%Magistrate Court 1,494,744 124,547 105,901 622,735 612,303 520,287 105,507 776,934 51.98%City Manager 481,168 40,087 39,512 200,435 187,386 179,694 689 293,093 60.91%Human Resource/Risk Mgmt 445,318 37,100 31,012 185,500 164,364 167,477 5,155 275,799 61.93%Community Affairs 452,365 37,688 21,919 188,440 135,057 105,383 8,325 308,983 68.30%Administrative Services 1,990,073 165,798 156,687 828,990 721,556 784,451 75,936 1,192,582 59.93%Information Technology 911,442 75,944 55,393 379,720 368,269 277,423 18,675 524,498 57.55%City Attorney 892,222 74,340 60,788 371,700 334,827 315,492 53,376 504,019 56.49%Non-Departmental 3,041,795 253,468 198,883 1,267,340 1,211,063 1,122,437 474,274 1,356,458 44.59%Contingency 750,000 62,500 - 312,500 - - - 750,000 100.00%Outside Contracts 175,000 14,581 10,417 72,905 61,083 60,897 87,917 26,000 14.86%Non-Dept Cost Allocation (3,413,893) (284,481) (299,973) (1,422,405) (1,481,092) (1,544,549) - (1,932,801) 56.62%Police 14,218,941 1,184,841 1,167,461 5,924,205 5,651,252 5,287,705 511,243 8,056,446 56.66%Fire 11,103,678 925,264 859,561 4,626,320 4,423,298 7,011,718 116,458 6,563,922 59.11%Operations - Administration 549,880 45,809 49,931 229,045 185,975 193,677 10,231 353,674 64.32%Operations - Maintenance Svcs 3,958,226 329,828 305,797 1,649,140 1,666,768 1,539,995 68,978 2,222,480 56.15%Havasu Mobility Service 323,744 26,965 11,059 134,825 67,307 - 396 256,041 79.09%Vehicle Maintenance 867,088 72,238 109,741 361,190 325,738 263,611 578,738 (37,388) (4.31%)Culture and Recreation 2,150,509 179,185 142,832 895,925 762,704 822,943 30,318 1,357,487 63.12%Community Services 1,621,642 135,096 114,620 675,480 604,272 457,712 102,312 915,058 56.43%Operating Transfers 6,211,983 517,663 141,167 2,588,315 3,205,833 868,750 - 3,006,150 48.39%

Total Expenditures 48,867,207$ 4,071,882$ 3,315,949$ 20,359,410$ 19,473,612$ 18,671,036$ 2,273,940$ 27,119,656$ 55.50%Total Revenues Over (Under)

Total Expenditures (1) (6,498,790)$ (541,208)$ 324,318$ (2,706,040)$ (2,421,287)$ 2,127,580$ 7$

(1) Expenditures over revenues will be funded using the carry forward fund balance from the previous year.

Current Month Year to Date Prior Year to Date

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Lake Havasu City Sales Tax Collections

Collected by the Arizona Department of Revenue

Lake Havasu CitySales Tax Collections

Collected by the Arizona Department of Revenue

% $2014+/- 2014 +/-

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015 2015

Jul 1,102,981$ 1,117,268$ 1,219,905$ 1,170,293$ 1,262,340$ 1,346,904$ 6.70% 84,564$ Aug 1,233,535 1,092,462 1,130,812 1,041,971 1,304,735 1,294,755 (0.76%) (9,980) Sep 1,068,446 1,086,216 1,126,185 1,097,286 1,136,525 1,318,109 15.98% 181,584 Oct 988,007 1,092,430 1,091,233 1,078,795 1,180,217 1,207,797 2.34% 27,580 Nov 923,854 1,055,838 1,104,800 1,085,682 1,194,219 Dec 1,076,435 1,165,217 1,164,099 1,161,615 1,307,896 Jan 1,344,673 1,281,226 1,322,441 1,365,039 1,420,599 Feb 1,050,183 1,048,120 1,155,515 1,201,890 1,265,286 Mar 1,150,137 1,275,765 1,319,046 1,188,810 1,342,557 Apr 1,440,274 1,359,838 1,539,945 1,406,572 1,506,683 May 1,255,276 1,265,732 1,344,498 1,301,565 1,400,540

Jun (1) 1,169,661 1,215,552 1,254,295 1,136,297 1,378,208$ Total 13,803,462$ 14,055,664$ 14,772,774$ 14,235,815$ 15,699,805$ 5,167,565$ 5.81% 283,748$

Jul 563,077$ 574,342$ 604,409$ 630,778$ 718,272$ 724,102$ 0.81% 5,830$ Aug 575,487 537,298 537,426 577,101 675,826 721,094 6.70% 45,268 Sep 532,695 535,993 560,778 570,522 654,223 709,522 8.45% 55,299 Oct 518,325 533,036 533,646 597,555 624,455 687,844 10.15% 63,389 Nov 535,120 532,378 569,706 623,118 654,620 Dec 595,499 651,928 663,298 686,528 769,833 Jan 824,854 767,685 794,803 843,284 894,458 Feb 592,345 557,729 626,890 704,004 741,551 Mar 595,144 696,319 699,637 658,850 766,256 Apr 810,053 711,214 780,457 818,612 869,874 May 620,920 636,922 661,215 720,393 795,107 Jun 611,658 615,397 654,946 567,883 797,038$

ADOR Class Adj.(2) N/A N/A N/A N/A 88,249Total 7,375,177$ 7,350,241$ 7,687,211$ 7,998,629$ 9,049,762$ 2,842,562$ 6.35% 169,786$

% of Total 53% 52% 52% 56% 58% 55%

% of Change from Previous Fiscal Year Total Tax Collections:(7.73%) 1.83% 5.10% (3.63%) 10.28%

FY07-08 Total Tax Collected1155785 -252202 -717109.85 536958.85 -1463990 10532240Monthly YTD Avg: 1,098,242$ 1,097,094$ 1,142,034$ 1,462,782$ 1,220,954$ 1,291,891$

*Sales tax revenue reporting by Arizona Department of Revenue (ADOR) is on a one month lag.(1) June FY 2012-2013 and July FY 2013-2014 adjusted for timing issue re-allocating a retail businesses filings to a new TPT number.(2) ADOR classification adjustment. This happens when a business filed in the wrong industry originally and then its corrected with ADOR.

Retail Sales Tax Collections

General Fund Total Sales Tax Collections - 2%

Data Not Yet Available

Data Not Yet Available

$0$200$400$600$800

$1,000$1,200$1,400$1,600$1,800

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Thousands Sales Tax Collections - General Fund

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015

33

Lake Havasu City Restaurant and Bar

Sales Tax Collections

Lake Havasu CityRestaurant and Bar


% $2014 +/- 2014 +/-

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015 2015

Jul 89,730$ 82,921$ 101,327$ 88,469$ 108,781$ 118,496 8.93% 9,715$ Aug 87,030 86,410 97,057 81,022 106,085 105,918 (0.16%) (167)$ Sep 84,124 90,469 81,114 89,045 96,813 112,780 16.49% 15,967$ Oct 71,654 79,619 85,969 81,377 111,100 106,411 (4.22%) (4,689)$ Nov 84,555 82,435 89,542 83,151 107,003 Dec 91,043 83,478 81,025 92,979 104,646 Jan 95,823 103,705 96,627 133,513 103,276 Feb 84,587 91,264 101,150 118,336 122,292 Mar 109,124 120,916 122,236 118,958 128,404 Apr 108,377 125,238 129,533 137,191 142,725 May 101,958 96,670 105,799 109,458 116,604 Jun 96,092 100,899 96,744 102,854 125,312$

Subtotal 1,104,097$ 1,144,024$ 1,188,123$ 1,236,353$ 1,373,041$ 443,605$ 4.93% 20,826$

Jul 65,073$ 60,297$ 69,578$ 70,137$ 79,839$ 85,092 6.58% 5,253$ Aug 66,178 63,918 67,901 72,353 71,339 80,945 13.47% 9,606$ Sep 60,972 64,567 58,435 59,996 72,880 80,877 10.97% 7,997$ Oct 54,959 58,256 60,112 62,963 70,995 73,122 3.00% 2,127$ Nov 60,148 60,746 61,244 63,216 73,412 Dec 58,672 56,102 57,160 59,620 67,757 Jan 60,427 71,758 70,281 82,095 72,391 Feb 56,983 60,555 70,705 71,849 78,217 Mar 72,696 82,063 74,114 80,443 82,349 Apr 84,149 84,862 86,509 89,202 102,719 May 71,118 79,033 79,302 91,845 85,113 Jun 76,703 67,709 70,828 72,855 91,871$

Subtotal 788,078$ 809,866$ 826,169$ 876,574$ 948,882$ 320,036$ 8.47% 24,983$ Total 1,892,175$ 1,953,890$ 2,014,292$ 2,112,927$ 2,321,923$ 763,641$ 45,809$

% of Change from Previous Fiscal Year Total Restaurant & Bar Tax Collections:2.88% 3.26% 3.09% 4.90% 9.89%

FY07-08 -52960 -61715 -60402 -98635 -208996 1558282Monthly YTD Avg: 144,930$ 146,614$ 155,373$ 151,341$ 179,458$ 190,910$

*Sales tax revenue reporting by Arizona Department of Revenue (ADOR) is on a one month lag.

Restaurant & Bar Tax Collections - 2%

Additional Restaurant & Bar Tax Collections - 1%

Data Not Yet Available*


$0

$50

$100

$150

$200

$250

$300


Thousands Restaurant & Bar - Total Sales Tax Collections

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015

4

4

Lake Havasu City Transient Occupancy (Bed) Tax


Lake Havasu CityTransient Occupancy (Bed) Tax


% $2014 +/- 2014 +/-

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015 2015

Jul 59,354$ 47,478$ 57,044$ 67,814$ 38,274$ 56,668$ 48.06% 18,394$ Aug 62,673 63,878 67,672 61,594 39,341 63,149 60.52% 23,808 Sep 48,796 46,018 37,939 51,395 28,687 56,023 95.29% 27,336 Oct 46,700 46,288 37,768 48,571 33,869 42,514 25.52% 8,645 Nov 41,362 39,172 67,583 43,893 39,091 Dec 27,566 23,513 31,615 23,831 26,939 Jan 22,824 23,176 26,848 20,111 23,616 Feb 29,448 28,466 35,569 25,770 30,953 Mar 34,521 38,817 47,510 53,156 41,216 Apr 77,146 62,406 93,489 68,044 73,304 May 62,284 76,013 51,773 49,681 51,306 Jun 61,526 41,641 52,448 43,965 50,795$

Subtotal 574,200$ 536,866$ 607,258$ 557,825$ 477,391$ 218,354$ 55.78% 78,183$

Jul 53,971$ 51,109$ 55,335$ 63,033$ 59,925$ 66,981 11.77% 7,056$ Aug 62,351 65,256 69,008 56,422 59,972 77,378 29.02% 17,406$ Sep 51,126 48,461 39,903 52,606 81,514 74,377 (8.76%) (7,137)$ Oct 42,536 46,377 39,676 50,422 44,260 47,874 8.17% 3,614$ Nov 40,223 28,120 56,989 43,564 56,774 Dec 27,739 30,736 26,445 25,930 33,661 Jan 22,543 25,993 26,002 22,600 28,344 Feb 28,064 28,046 33,899 31,956 42,935 Mar 43,400 43,226 49,396 57,807 57,483 Apr 64,452 64,300 73,653 77,886 94,213 May 60,791 56,467 62,852 77,750 72,121 Jun 55,047 62,691 51,356 58,889 69,871$

ADOR Class Adj.(1) N/A N/A N/A N/A 5,428Subtotal 552,243$ 550,782$ 584,514$ 618,865$ 701,073$ 266,610$ 8.52% 20,939$

Total 1,126,443$ 1,087,648$ 1,191,772$ 1,176,690$ 1,183,892$ 484,964$ 99,122$

% of Change from Previous Fiscal Year Total Accomodation / Transient Occupancy (Bed) Tax Collections:0.34% (3.44%) 9.57% (1.27%) 0.61%

FY 07-08 Total tax collected for both categories-3867 38795 -104124 15082 -7202Monthly YTD Avg: 106,877$ 103,716$ 101,086$ 112,964$ 96,461$ 121,241$

*Sales tax revenue reporting by Arizona Department of Revenue (ADOR) is on a one month lag.(1) ADOR classification adjustment. This happens when a business filed in the wrong industry originally and then its corrected with ADOR.

Accomodation Tax Collections - 2%

Transient Occupancy (Bed) Tax Collections - 3%



$0$20$40$60$80

$100$120$140$160$180


Thousands Accomodation & Transient Occupancy (Bed) Tax Collections

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015

5

5

Lake Havasu City Construction Sales Tax Collections

Lake Havasu CityConstruction Sales Tax Collections

% $2014 +/- 2014 +/-

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015 2015

Jul 79,520$ 131,920$ 109,040$ 146,247$ 136,356$ 127,698 (6.35%) (8,658)$ Aug 110,657 119,135 97,322 112,371 161,930 137,680 (14.98%) (24,250)$ Sep 133,732 137,674 128,373 116,304 124,211 145,059 16.78% 20,848$ Oct 74,224 117,160 114,989 104,805 142,461 130,764 (8.21%) (11,697)$ Nov 88,395 114,676 106,728 101,649 127,110 Dec 74,055 119,716 91,060 108,588 122,186 Jan 95,120 112,292 75,862 98,056 132,530 Feb 71,357 84,603 91,603 123,980 123,491 Mar 118,702 104,218 107,709 108,947 142,556 Apr 97,024 132,127 115,161 118,119 114,927 May 142,594 119,294 90,518 122,913 154,827$ Jun 99,964 102,731 80,953 130,780 141,660$

Total 1,185,344$ 1,395,546$ 1,209,318$ 1,392,759$ 1,624,245$ 541,201$ (4.21%) (23,757)$

% of Change from Previous Fiscal Year Construction Sales Tax Collections(43.25%) 17.73% (13.34%) 15.17% 16.62%

FY 07-08 903238 -210202 186228 -183441 -231486Monthly YTD Avg: 99,533$ 126,472$ 112,431$ 119,932$ 141,240$ 135,300$

*Sales tax revenue reporting by Arizona Department of Revenue (ADOR) is on a one month lag.

425139.4392 89237.14244 201425.0805 92830.30056 103702.2637

Construction Sales Tax - 2%


$0$20$40$60$80

$100$120$140$160$180


Thousands Construction Sales Tax Collections

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015

6

6

Lake Havasu City State Revenue SharingLake Havasu City

State Revenue Sharing

% $2014 +/- 2014 +/-

2012-13 2013-14 2014-15 2015 2015Jul 447,127$ 488,349$ 529,893$ 8.51% 41,544$

Aug 447,127 488,349 529,893 8.51% 41,544Sep 447,127 488,349 529,893 8.51% 41,544Oct 447,127 488,349 529,893 8.51% 41,544Nov 447,127 488,349 529,893 8.51% 41,544Dec 447,127 488,349 - Jan 447,127 488,349 - Feb 447,127 483,637 - Mar 447,127 488,181 - Apr 447,127 488,181 - May 447,127 488,181 - Jun 447,127 488,181 -

Total 5,365,524$ 5,854,804$ 2,649,465$ 8.51% 207,720$

Monthly YTD Avg: 447,127$ 488,349$ 529,893$ 8.51%

2015 Budget 6,358,345$ % Received 41.67%

$0$50

$100$150$200$250$300$350$400$450$500$550$600


Thou

sand

s

State Revenue Sharing-General Fund

2012-13 2013-14 2014-15

7

7

Lake Havasu City State Sales Tax

Lake Havasu CityState Sales Tax

% $2014 +/- 2014 +/-

2012-13 2013-14 2014-15 2015 2015Jul 348,563$ 374,326$ 388,200$ 3.71% 13,874$

Aug 349,374 368,020 375,313 1.98% 7,293Sep 325,946 352,588 370,938 5.20% 18,350Oct 337,604 360,501 376,281 4.38% 15,780 Nov 338,497 355,339 376,421 5.93% 21,082 Dec 340,581 360,662 - Jan 351,750 373,965 - Feb 420,419 473,119 - Mar 347,924 357,496 - Apr 349,599 377,935 - May 401,054 419,049 - Jun 362,360 385,222 -

Total 4,273,671$ 4,558,222$ 1,887,153$ 4.22% 76,379$

Monthly YTD Avg: 339,997$ 362,155$ 377,431$ 4.22%

2015 Budget 4,746,255$ % Received 39.76%

$0$50

$100$150$200$250$300$350$400$450$500


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State Sales Tax-General Fund

2012-13 2013-14 2014-15

8

8

Lake Havasu City Building Permits Revenue

Lake Havasu CityBuilding Permit Revenue

% $2014 +/- 2014 +/-

2011-12 2012-13 2013-14 2014-15 2015 2015Jul 30,678$ 56,105$ 112,898$ 113,711$ 0.72% 813$

Aug 60,765 78,931 76,592 87,676 14.47% 11,084Sep 56,060 63,086 86,721 84,504 (2.56%) (2,217)Oct 51,119 83,065 105,067 119,901 14.12% 14,834 Nov 56,432 73,641 86,221 92,288 7.04% 6,067 Dec 48,248 60,739 76,868 - Jan 44,709 66,037 81,824 - Feb 50,873 71,167 100,134 - Mar 55,032 84,509 100,864 - Apr 56,781 91,337 85,982 - May 69,371 123,220 118,755 - Jun 57,726 81,104 85,814 -

Total 637,794$ 932,941$ 1,117,740$ 498,080$ 30.63% 30,581$

Monthly YTD Avg: 49,656$ 70,297$ 95,320$ 101,448$

2015 Budget 1,100,002$ % Received 45.28%

$5

$25

$45

$65

$85

$105

$125


Thousands Building Permit Revenue

2011-12 2012-13 2013-14 2014-15

9

9

Lake Havasu City Building Permits Issued

Lake Havasu CityBuilding Permits Issued

% $2014 +/- 2014 +/-

2011-12 2012-13 2013-14 2014-15 2015 2015Jul 56 71 119 123 103.36% 4

Aug 77 81 106 100 (5.66%) (6) Sep 64 85 106 108 1.89% 2 Oct 64 103 117 120 2.56% 3 Nov 78 86 88 92 4.55% 4 Dec 64 73 85 0Jan 65 83 104 0Feb 72 94 115 0Mar 90 92 135 0Apr 83 122 113 0May 101 116 145 0Jun 81 68 123 0

Total 895 1074 1356 543 21.21% 7

Monthly YTD Avg: 68 85 107 109

0

20

40

60

80

100

120

140

160


Building Permits Issued

2011-12 2012-13 2013-14 2014-15

10

10

Lake Havasu City Building Permits Issued By Category

Lake Havasu CityBuilding Permits Issued by Category

SingleFamily

Multi-Family

Add / Alter/ Demo

Pools /Spas Commercial Industrial

Add / Alter/ Demo

2014-15 Total

Jul 30 - 51 35 - - 7 123 Aug 11 - 44 31 1 - 13 100 Sep 14 - 50 38 1 - 5 108 Oct 29 7 47 25 1 - 11 120 Nov 19 - 43 29 - - 1 92 Dec - - - - - - - - Jan - - - - - - - - Feb - - - - - - - - Mar - - - - - - - - Apr - - - - - - - - May - - - - - - - - Jun - - - - - - - -

Total 103 7 235 158 3 - 37 543

Totals at 6/30/14 244 1 732 292 5 - 85 1,359

FY 2013-14 Monthly Average 20 - 61 24 - - 7 113

FY 2014-15 Monthly Average 21 1 47 32 1 0 8 109

% ChangeMonthly Avg 5.00% 0.00% (22.95%) 33.33% 0.00% 0.00% 14.29% (3.54%)

*All Other includes: Duplex, Triplex/Fourplex, Apartments, Mobile Homes, Garage/Carports, New Commercial, Additions/Alterations and Pools/Spas

Residential Commercial

19%

81%

Single Family as Compared to All Other Permits Issued

Single Family

All Other *

11

11

Lake Havasu City HURF Fund - Unaudited

Balance Sheet

Lake Havasu CityHURF Fund - Unaudited

Balance Sheet



Accounts Receivable 6,507 773 Intergovernmental Receivable 400,635 395,506 Interest Receivable 2,874 2,989

Inventories 49,500 49,500 Prepaid Items 73,859 72,298

Total Assets 3,216,741$ 3,319,962$

Current LiabilitiesAccounts Payable 3,436$ 15,379$ Accrued Payroll 2,016 768 Retainage Payable 11,917 - Interest Payable 419 76

Total Liabilities 17,788 16,223

RestrictedReserve for Encumbrances 376,366 167,026 Reserve for Inventory/Prepaids 123,360 121,798

Unrestricted Fund Balance 2,699,227 3,014,915

Total Fund Balance 3,198,953 3,303,739

Total Liabilities and Fund Balance 3,216,741$ 3,319,962$

Highway User Revenue Fund - This fund is used to account for the City's share of motor fuels taxes and fees relating to the registration and operation of motor vehicles on the public highways of the state. The taxes, fees and charges are collected by the State of Arizona and distributed to the various towns and cities. Use of these funds is restricted to highway construction, improvements and other related expenses.

ASSETS

LIABILITIES

FUND BALANCE

This balance sheet reflects the activity in the Highway User Revenue Special Revenue Fund. Special Revenue Funds are established to finance particular activities and are created out of receipts of specific taxes or other earmarked revenue.

1212

Lake Havasu City HURF Fund - Unaudited

Summary of Revenues and ExpendituresFor the Month Ended November 30,2014 - 58% of the Year Remaining

Lake Havasu CityHURF Fund - Unaudited



Intergovernmental RevenueHighway User Revenue 4,401,526$ 366,793$ 332,084$ 1,833,964$ 1,856,472$ 1,735,112$ 2,545,054$ 57.82%

Charges for Services 16,000 1,333 1,017 6,665 11,291 4,344 4,709 29.43%Investment Earnings 35,000 2,916 1,587 14,578 10,367 22,924 24,633 70.38%Miscellaneous - - 553 - 680 137 (680) 0.00%Transfers In 550,000 45,833 45,833 229,166 229,167 437,500 320,833 58.33%

Total Revenues 5,002,526$ 416,875$ 381,074$ 2,084,374$ 2,107,977$ 2,200,017$ 2,894,549$ 57.86%

Expenditures by CategoryPersonnel Services 1,634,328$ 136,186$ 102,524$ 680,930$ 586,270$ $ 590,236 -$ 1,048,058$ 64.13%Professional Services - - - - 500 - - 0.00%Other Purchased Services 33,291 2,771 5,024 13,855 13,714 18,528 8,262 11,315 33.99%Utility Services 69,300 5,773 4,330 28,865 23,184 25,840 - 46,116 66.55%Repair & Maintenance Services 2,358,400 196,880 144,422 980,200 225,473 319,031 180,054 1,952,873 82.80%Leases & Rentals 50,000 4,166 - 20,830 16,398 3,009 17,445 16,157 32.31%General Insurance & Claims 317,805 26,483 - 132,414 225,328 217,761 - 92,477 29.10%General Supplies 15,100 1,256 668 6,283 9,844 5,007 - 5,256 34.81%Maintenance & Operational Supplies 964,530 80,022 77,749 404,310 255,866 350,363 156,159 552,505 57.28%Inter-Cost Allocations (net) 423,913 35,319 35,326 176,595 176,631 170,652 - 247,282 58.33%Capital Outlay 25,000 2,083 - 10,416 6,824 - 14,446 3,730 14.92%Capital Lease Principal 3,573 297 1,746 1,484 1,746 24,544 - 1,827 51.13%Capital Lease Interest 3,300 275 1,675 1,375 1,675 453 - 1,625 49.24%Contingency 92,000 7,666 - 38,328 - - 92,000 100.00%Transfers Out - - - 5,614 - - 0.00%

Total Expenditures 5,990,540$ 499,177$ 373,464$ 2,495,885$ 1,542,953$ 1,731,538$ 376,366$ 4,071,221$ 67.96%Total Revenues Over (Under)

Total Expenditures (1) (988,014)$ (82,302)$ 7,610$ (411,511)$ 565,024$ 468,479$


Revenues by Category

Prior Year to Date

Current Month Year to Date

13

13

Lake Havasu City HURF Fund Revenue

Lake Havasu CityHURF Revenue

% $2013 +/- 2013 +/-

2013-14 2014-15 2014 2014Jul 395,506$ 400,635$ 1.30% 5,129$

Aug 352,757 382,365 8.39% 29,608 Sep 340,250 379,335 11.49% 39,085 Oct 339,432 362,052 6.66% 22,620 Nov 307,167 332,084 8.11% 24,917 Dec 302,835 Jan 313,278 Feb 334,069 Mar 324,078 Apr 374,589 May 425,335 Jun 385,345

Total 4,194,641$ 1,856,471$ 6.99% 121,359$

Monthly Average 433,778$ 371,294$ (14.40%)

2015 Budget 4,401,526$ % Received 42.18%

$0$50

$100$150$200$250$300$350$400$450


Thou

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HURF Revenue

2013-14 2014-15

14

14

Lake Havasu City Debt Service Fund - Unaudited

Balance Sheet

Lake Havasu CityDebt Service Fund - Unaudited

Balance Sheet

October 31, 2014 October 31, 2013

Current AssetsCash and Investments 82,510$ 82,612$ Receivables

Interest Receivable 150 114

Total Assets 82,660$ 82,726$

Current LiabilitiesAccount Payable -$ -$

Total Liabilities - -

Unrestricted Fund Balance 82,660 82,726

Total Fund Balance 82,660 82,726

Total Liabilities and Fund Balance 82,660$ 82,726$

ASSETS

LIABILITIES

FUND BALANCE

Debt Service Funds are established to account for the accumulation of resources for, and payment of, general long-term debt principal and interest that are not serviced by the Enterprise Funds.

The Debt Service Fund reflects activity for the GADA Series 2008A bonds for the Second Bridge to the Island.

15

15

Lake Havasu City Debt Service Fund - Unaudited


Lake Havasu CityDebt Service Fund - Unaudited

Summary of Revenues and ExpendituresFor the Month Ended October 31, 2014 - 67% of the Year Remaining


Revenues by CategoryInvestment Earnings 1,050$ 87$ 116$ 348$ 181$ 593$ 869$ 82.76%Transfers In 244,000 20,333 20,333 81,332 81,333 81,667 162,667 66.67%

Total Revenues 245,050$ 20,420$ 20,449$ 81,680$ 81,514$ 82,260$ 163,536$ 66.74%

Expenditures by CategoryBonded Debt Principal 160,000$ -$ -$ 160,000$ 160,000$ 150,000$ -$ -$ 0.00%Bonded Debt Interest 79,096 - - 7,081 7,080 7,580 - 72,016 91.05%Debt Service Fees 900 - - - - - - 900 100.00%

Total Expenditures 239,996$ -$ -$ 167,081$ 167,080$ 157,580$ -$ 72,916$ 30.38%Total Revenues Over (Under)

Total Expenditures (1) 5,054$ 20,420$ 20,449$ (85,401)$ (85,566)$ (75,320)$



16

16

Lake Havasu City Wastewater Funds - Unaudited

Balance Sheet

Lake Havasu CityWastewater Funds - Unaudited

Balance Sheet



Accounts Receivable 5,779,496 6,431,147 Taxes Receivable - 26,713 Interest Receivable 21,759 68,924

Prepaid Items 46,389 40,519 Deferred Charges - 4,203,963 Restricted Assets 22,896,790 14,320,181

Total Current Assets 62,881,174 72,360,382

Noncurrent AssetsCapital Assets

Land 1,405,129 1,405,129 Buildings 876,520 871,586 Improvements Other than Buildings 390,707,392 389,763,443 Machinery and Equipment 2,969,745 2,482,462 Construction in Progress 261,359 183,943 Capital Leases 230,750 230,750

Less: Accumulated Depreciation (85,271,244) (74,835,488)

Total Capital Assets (Net of Accumulated Depreciation) 311,179,651 320,101,825

Total Noncurrent Assets 311,179,651 320,101,825 Total Assets 374,060,825$ 392,462,207$

Current LiabilitiesAccounts Payable 154,868$ 1,901,416$ Accrued Wages and Benefits 9,217 6,541 Intergovernmental Payable 5,974 11,260 Interest Payable 1,489 53 Retainage Payable 38,160 - Deferred Revenue 2,253 1,351 Compensated Absences 133,605 64,768 Capital Leases Payable 6,498 5,487 Bonds and Notes Payable - 95,258

Total Current Liabilities 352,064 2,086,134

Noncurrent LiabilitiesCapital Leases Payable 197,034 205,524 Compensated Absences 20,887 64,540 Other Post Employment Benefits 338,419 279,259 Bonds and Notes Payable 278,299,641 286,400,861

Total Noncurrent Liabilities 278,855,981 286,950,184 Total Liabilities 279,208,045 289,036,318

Net Investment in Capital Assets 32,676,478 33,394,695 Unrestricted (1) 62,176,302 70,031,194 Total Net Position 94,852,780$ 103,425,889$

(1) The unrestricted fund balance includes $28.5 million designated for future capital improvements, $2.5 million for capital replacement, $7.2 million for debt service payments, $6.5 million for debt

service reserves, and $6.5 million for rate stabilization.

ASSETS

LIABILITIES

NET POSITION

This balance sheet reflects the activity of the Wastewater Utilities Fund, Wastewater Construction, Wastewater Capital Replacement and Wastewater Debt Service Funds.

1717

Lake Havasu City Wastewater Funds - Unaudited

Summary of Revenues and ExpensesFor the Month Ended Novemenber 30, 2014 - 58% of the Year Remaining

Lake Havasu CityWastewater Funds - Unaudited

Summary of Revenues and ExpensesFor the Month Ended November 30, 2014 - 58% of Year Remaining


Revenues by CategoryIntergovernmental 148,500$ 12,375$ -$ 61,875$ -$ $ - 148,500$ 100.00%Charges for Services 23,066,393 1,922,199 1,902,731 9,610,995 9,598,236 9,296,022 13,468,157 58.39%Investment Earnings 942,000 78,498 38,693 392,490 225,814 536,253 716,186 76.03%Miscellaneous Revenues 63,672 5,306 9,869 26,530 27,401 32,994 36,271 56.97%Contributed Capital 490,000 40,832 51,202 204,161 243,813 291,875 246,187 50.24%

Total Revenues 24,710,565$ 2,059,211$ 2,042,409$ 10,296,051$ 10,294,835$ 10,157,144$ 14,415,730$ 58.34%

Expenses by CategoryPersonnel Services 2,494,483$ 207,866$ 177,137$ 1,039,330$ 934,057$ 883,907$ -$ 1,560,426$ 62.56%Professional Services 109,934 8,993 88,114 46,965 116,672 90,001 76,240 (82,978) (75.48%)Other Purchased Services 293,021 24,414 13,843 122,071 103,468 101,086 34,718 154,835 52.84%Utility Services 1,571,650 130,969 79,889 654,844 510,871 540,477 650 1,060,129 67.45%Repair & Maintenance Services 731,770 60,978 67,380 304,890 165,848 128,023 177,425 388,497 53.09%Leases & Rentals 5,000 416 - 2,080 3,573 - 1,427 0 0.01%General Insurance & Claims 244,100 20,341 12,623 101,705 138,978 126,607 - 105,122 43.07%General Supplies 161,750 13,477 6,898 67,390 24,613 27,981 2,450 134,687 83.27%Maintenance and Operational Supplies 1,662,197 138,512 76,851 692,560 385,504 488,376 880,111 396,582 23.86%Inter-Cost Allocations 813,664 67,796 67,611 338,980 338,763 334,423 - 474,901 58.37%Depreciation 11,001,945 916,828 828,345 4,584,140 4,141,725 3,281,133 - 6,860,220 62.35%Capital Outlay 1,558,034 128,486 186,227 658,606 381,833 72,809 530,016 646,185 41.47%Capital Improvement Program 2,795,295 230,589 13,994 1,181,170 597,280 889,924 311,781 1,886,234 67.48%Capital Lease Principal 12,707 1,059 6,209 5,290 6,209 17,185 - 6,498 51.14%Capital Lease Interest 11,737 978 5,957 4,890 5,957 317 - 5,780 49.25%Contingency 355,000 29,583 - 147,915 - - - 355,000 100.00%Budget Moved to Unavailable (2) 232,012 23,201 - 69,606 - - - 232,012 100.00%Debt Service- Principle 10,672,382 - - 10,672,382 9,969,299 10,266,206 - 703,083 6.59%Debt Service- Interest Expense 10,515,124 - - 241,958 241,958 241,958 - 10,273,166 97.70%Issuance Costs 216,340 - - - - - - 216,340 100.00%Transfers Out 232,000 19,333 (6,209) 96,665 (6,209) 34,856 - 238,209 102.68%Capitalized Expenses - - - - (9,969,299) (10,474,415) - - 0.00%

Total Expenses 45,690,145$ 2,023,820$ 1,624,869$ 21,033,437$ 8,091,100$ 7,050,854$ 2,014,818$ 25,614,927$ 56.06%Total Revenues Over (Under)

Total Expenses (1) (20,979,580)$ 35,391$ 417,540$ (10,737,386)$ 2,203,735$ 3,106,290$

(1) Expenses over revenues will be funded using the carry forward fund balance from the previous year.(2) This is the portion of the carryforward amount in the adopted budget for FY 14/15 that was spent before FY 13/14 closed and is not available to the department in FY 14/15.


18

18

Lake Havasu City Wastewater Funds Revenues

Lake Havasu CityWastewater Funds Revenues

% $ % $2014 +/- 2014 +/- 2014 +/- 2014 +/-

2013-14 2014-15 2015 2015 2013-14 2014-15 2015 2015Jul 2,281,364$ 1,958,960$ (14.13%) (322,404)$ Jul 1,859,069$ 1,910,462$ 2.76% 51,393$

Aug 2,019,401 2,030,065 0.53% 10,664 Aug 1,931,827 1,958,426 1.38% 26,599 Sep 1,957,783 2,010,885 2.71% 53,102 Sep 1,857,108 1,923,049 3.55% 65,941 Oct 1,931,813 2,092,859 8.34% 161,046 Oct 1,824,843 1,903,566 4.31% 78,723 Nov 1,966,789 2,042,409 3.84% 75,620 Nov 1,823,177 1,902,731 4.36% 79,554 Dec 1,935,921 Dec 1,842,128Jan 1,881,648 Jan 1,783,561Feb 1,883,284 Feb 1,796,688Mar 1,641,398 Mar 1,834,957Apr 1,959,028 Apr 1,874,094May 2,046,625 May 1,928,964Jun 2,230,230 Jun 1,971,322

Total 23,735,287$ 10,135,178$ (0.22%) (21,972)$ Total 22,327,736$ 9,598,235$ 3.25% 302,211$

Monthly YTD Avg: 2,031,430$ 2,027,036$ (0.22%)

Monthly YTD Avg: 1,859,205$ 1,919,647$ 3.25%

2015 Budget 24,710,565$ % Received 41.02% 2015 Budget 23,066,393$ % Received 41.61%

(Excludes Transfers In & Debt Proceeds) Usage FeesTotal Revenues

$0

$500

$1,000

$1,500

$2,000

$2,500


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2013-14 2014-15

$200$400$600$800

$1,000$1,200$1,400$1,600$1,800$2,000$2,200


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Usage Fees

2013-14 2014-15

19

19

Lake Havasu City IDD Fund - Unaudited

Balance Sheet

Lake Havasu CityIDD Fund - Unaudited

Balance Sheet



Accounts Receivable 1,263,527 1,294,407 Taxes Receivable 451,331 183,723 Interest Receivable 17,540 16,701

Prepaid Expenses 96,338 91,394 Deferred Charges - 80,397 Restricted Assets 993,672 1,274,919



Land 1,186,567 1,186,567 Buildings 23,751,451 23,747,473 Improvements Other than Buildings 62,522,791 60,939,547 Machinery and Equipment 1,840,425 1,775,859 Construction in Progress 3,849,630 3,029,356 Capital Leases 302,252 302,252 Water Rights 8,540,235 8,540,235




Current LiabilitiesAccounts Payable 16,649$ 235,741$ Accrued Wages and Benefits 10,371 7,712 Intergovernmental Payable 123,806 115,470 Interest Payable 1,202 70 Retainage Payable 326,387 118,531 Deferred Revenue 161,158 188,510 Liabilities from Restricted Assets 447,464 437,550 Compensated Absences 163,280 79,657 Capital Leases Payable 5,247 4,431 Bonds and Notes Payable 5,000 5,000

Total Current Liabilities 1,260,564 1,192,672

Noncurrent LiabilitiesCapital Leases Payable 159,100 165,722 Compensated Absences 25,527 78,553 Other Post Employment Benefits 621,297 542,625 Bonds and Notes Payable 5,246,379 4,091,795


Net Investments in Capital Assets 63,878,023 64,911,959 Unrestricted (1) 25,876,104 21,318,631 Total Net Position 89,754,127$ 86,230,590$

This balance sheet reflects the activity of the Irrigation and Drainage District Fund.(1) The unrestricted fund balance includes approximately $369,909 for debt service payments and approximately $623,763 for debt service reserves.

LIABILITIES

NET POSITION

ASSETS

2020

Lake Havasu City IDD Fund - Unaudited

Summary of Revenues and Expenses For the Month Ended November 30, 2014 -58% of the Year Remaining

Lake Havasu CityIDD Fund - Unaudited

Summary of Revenues and ExpensesFor the Month Ended November 30, 2014 - 58% of the Year RemainingAnnual Amount Unrealized %Budget Estimate Actual Estimate Actual Encumbered Balance Remaining

Revenues by CategoryIntergovernmental Revenue

Grants 86,000$ 7,516$ -$ 33,380$ 20,698$ 409,244$ 65,302$ 75.93%Property Tax 5,684,564 473,713 1,483,432 2,368,563 1,619,959 2,325,346 4,064,605 71.50%

Charges for Services 10,391,880 865,635 900,037 4,332,375 4,929,168 5,046,727 5,462,712 52.57%Proceeds from Capital Debt 3,312,545 276,045 567,808 1,380,226 1,402,453 - 1,910,092 57.66%Investment Earnings 258,900 21,574 15,235 107,870 95,141 164,332 163,759 63.25%Miscellaneous - - - 59,302 - 0.00%

Total Revenues 19,733,889$ 1,644,483$ 2,966,512$ 8,222,415$ 8,067,419$ 8,004,951$ 11,666,470$ 59.12%

Expenses by CategoryPersonnel Services 3,538,340$ 294,853$ 227,681$ 1,474,265$ 1,217,245$ 1,185,101$ -$ 2,321,095$ 65.60%Professional Services 77,761 6,480 7,325 32,400 27,625 23,254 58,130 (7,994) (10.28%)Other Purchased Services 310,058 25,483 18,797 131,615 122,173 109,952 26,982 160,903 51.89%Utility Services 1,634,250 136,187 118,333 680,935 667,636 652,088 250 966,364 59.13%Repair & Maintenance Services 866,701 72,131 31,650 361,727 181,010 140,533 121,314 564,377 65.12%Leases & Rentals 33,000 2,750 5,727 13,750 14,342 13,235 1,902 16,756 50.78%General Insurance & Claims 317,805 26,483 - 132,415 241,109 225,535 211 76,485 24.07%General Supplies 65,100 5,423 3,204 27,115 12,051 13,016 3,494 49,555 76.12%Maintenance and Operational Supplies 995,725 82,897 97,813 415,373 358,219 490,388 219,438 418,068 41.99%Outside Contracts 5,200 433 - 2,165 - - - 5,200 100.00%Inter-Cost Allocations 1,064,650 88,713 91,936 443,565 441,690 461,100 - 622,960 58.51%Depreciation 2,591,268 215,939 179,765 1,079,695 898,826 723,046 - 1,692,442 65.31%Capital Outlay 687,021 57,251 - 286,255 209,263 9,267 105,999 371,759 54.11%Capital Improvement Program 11,693,660 974,471 186,218 4,872,355 1,738,737 889,927 1,579,139 8,375,784 71.63%Capital Lease Principal 10,261 855 5,014 4,275 5,014 22,578 - 5,247 51.14%Capital Lease Interest 9,477 789 4,810 3,945 4,810 417 4,667 49.25%Contingency 275,000 22,917 - 114,580 - - - 275,000 100.00%Budget Moved to Unavailable (2) 9,799 980 - 2,940 - - - 9,799 100.00%Debt Service- Principle 390,912 - - 390,912 - 378,929 - 390,912 100.00%Debt Service- Interest 225,324 - - - - - - 225,324 100.00%Issuance costs 5,001 - - - - - - 5,001 100.00%Water Grants 141,000 12,100 2,080 56,300 22,865 - 1,626 116,509 82.63%Transfers Out 2,905,000 242,083 256,506 1,210,410 2,379,822 1,100,151 - 525,178 18.08%Capitalized Expenses - - - - - (927,722) - - 0.00%

Total Expenses 27,852,313$ 2,269,216$ 1,236,859$ 11,736,993$ 8,542,437$ 5,510,795$ 2,118,485$ 17,191,391$ 61.72%Total Revenues over (under)

Total Expenses (1) (8,118,424)$ (624,734)$ 1,729,653$ (3,514,578)$ (475,018)$ 2,494,156$

(1) Expenses over revenues will be funded using the carry forward fund balance from the previous year.(2) This is the portion of the carryforward amount in the adopted budget for FY 14/15 that was spent before FY 13/14 closed and is not available to the department in FY 14/15.


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21

Lake Havasu City IDD Fund Reserves

Lake Havasu CityIDD Fund Revenues

% $ % $2014 +/- 2014 +/- 2014 +/- 2014 +/-

2013-14 2014-15 2015 2015 2013-14 2014-15 2015 2015Jul 1,209,104$ 1,002,741$ (17.07%) (206,363)$ Jul 1,020,490$ 976,390$ (4.32%) (44,100)$

Aug 1,184,474 1,146,456 (3.21%) (38,018) Aug 1,113,233 1,061,235 (4.67%) (51,998) Sep 1,536,923 1,080,470 (29.70%) (456,453) Sep 1,077,707 1,004,849 (6.76%) (72,858) Oct 1,228,770 1,057,166 (13.97%) (171,604) Oct 949,766 977,821 2.95% 28,055 Nov 2,845,678 2,400,180 (15.66%) (445,498) Nov 890,244 900,037 1.10% 9,793 Dec 2,124,667 Dec 786,684 Jan 1,228,934 Jan 675,631 Feb 1,045,322 Feb 717,626 Mar 1,093,841 Mar 691,103 Apr 1,191,662 Apr 761,533 May 2,049,341 May 845,291 Jun 2,646,537 Jun 938,690

Total 19,385,253$ 6,687,013$ (16.46%) (1,317,936)$ Total 10,467,998$ 4,920,332$ (2.60%) (131,108)$

Monthly YTD Avg: 1,600,990$ 1,337,403$ (16.46%)

Monthly YTD Avg: 1,010,288$ 984,066$ (2.60%)

2015 Budget 16,421,344$ % Received 40.72% 2015 Budget 10,291,880$ % Received 47.81%

Usage Fees(Excludes Transfers In & Debt Proceeds)Total Revenues

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000


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Total Revenues

2013-14 2014-15

$0

$200

$400

$600

$800

$1,000

$1,200

Jul Aug Sep Oct NovDec Jan Feb MarAprMay Jun

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Usage Fees

2013-14 2014-15

22

22

Lake Havasu City Recreation/Aquatic Fund - Unaudited

Balance Sheet

Lake Havasu CityRecreation/Aquatic Fund - Unaudited

Balance Sheet



Accounts Receivable 2,178 3,365 Interest Receivable 482 335

Inventory 3,682 3,007 Prepaid Expenses 6,774 6,621

Total Current Assets 254,553 214,117


Buildings 8,876,503 8,796,185 Machinery and Equipment 39,370 39,370




Current LiabilitiesAccounts Payable 61$ 659$ Accrued Payroll 1,925 8,555 Interest Payable 8,956 32 Intergovernmental Payable 204 - Deferred Revenue 27,238 28,516 Compensated Absences 15,038 - Capital Leases Payable 39,078 32,999

Total Current Liabilities 92,500 70,761

Noncurrent Liabilities Capital Leases Payable 1,184,932 1,235,275 Compensated Absences 2,351 7,750 Other Post Employment Benefits 45,952 37,973


Net Investments in Capital Assets 3,921,363 4,110,103 Unrestricted 152,828 130,632 Total Net Position 4,074,191$ 4,240,735$

This balance sheet reflects the activity of the Recreation and Aquatic Center.

ASSETS

LIABILITIES

NET ASSETS

23

23

Lake Havasu City Recreation/Aquatic Fund - UnauditedSummary of Revenues and Expenses

For the Month Ended November 30, 2014 - 58% of the Year Remaining

Lake Havasu CityRecreation/Aquatic Fund - UnauditedSummary of Revenues and Expenses

For the Month Ended November 30, 2014 - 58% of the Year Remaining


Charges for Services 344,750$ 28,724$ 20,285$ 143,620$ 116,039$ $ 101,790 228,711$ 66.34%Rents and Royalties 16,938 1,411 1,412 7,055 7,058 7,058 9,880 58.33%Investment Earnings 3,103 258 142 1,290 1,100 2,189 2,003 64.55%Miscellaneous 175 14 93 70 192 66 (17) (9.71%)Transfers In 1,210,000 100,833 100,833 504,165 504,167 454,167 705,833 58.33%

Total Revenues 1,574,966$ 131,240$ 122,765$ 656,200$ 628,556$ 565,270$ 946,410$ 60.09%

Personnel Services 690,630$ 57,546$ 45,241$ 287,730$ 254,390$ $ 220,886 -$ 436,240$ 63.17%Professional Services 2,220 185 - 925 1,821 - 528 (129) (5.81%)Other Purchased Services 56,430 4,698 3,569 23,490 18,193 5,955 625 37,612 66.65%Utility Services 154,970 12,913 12,189 64,565 52,137 39,805 - 102,833 66.36%Repair & Maintenance Services 54,825 4,567 6,254 22,835 16,970 18,925 2,658 35,197 64.20%Leases & Rentals 5,400 450 - 2,250 903 1,211 - 4,497 83.28%General Insurance & Claims 51,814 4,317 - 21,585 20,640 19,934 - 31,174 60.17%General Supplies 18,000 1,498 278 7,490 3,907 4,919 2,694 11,399 63.33%Maintenance and Operational Supplies 74,188 6,179 4,714 30,895 30,443 34,559 16,357 27,388 36.92%Outside Contracts 43,000 3,583 1,500 17,915 2,346 2,911 - 40,654 94.54%Inter-Cost Allocations 264,836 22,064 22,070 110,320 110,349 102,850 - 154,487 58.33%Depreciation 262,313 21,859 24,208 109,295 121,042 96,558 - 141,271 53.86%Capital Outlay 130,000 10,833 1,461 54,165 61,652 - 7,973 60,375 46.44%Capital Lease Principal 76,419 6,368 37,341 31,840 37,341 - - 39,078 51.14%Capital Lease Interest 70,584 5,882 35,822 29,410 35,822 - - 34,762 49.25%Contingency 3,500 291 - 1,455 - - - 3,500 100.00%Transfers Out - - - - - 38,795 - - 0.00%Capitalized Expenses - - - - - (31,697) - - 0.00%

Total Expenses 1,959,129$ 163,233$ 194,647$ 816,165$ 767,956$ 555,611$ 30,835$ 1,160,338$ 59.23%Total Revenues Over (Under)

Total Expenses (1) (384,163)$ (31,993)$ (71,882)$ (159,965)$ (139,400)$ 9,659$

(1) Expenses over revenues will be funded using the carry forward fund balance from the previous year.



Expenses by Category

24

24

Lake Havasu City Refuse Fund - Unaudited

Balance Sheet

Lake Havasu CityRefuse Fund - Unaudited

Balance Sheet



Accounts Receivable 542,927 657,394 Interest Receivable 6,581 7,822



Improvements Other than Buildings 47,005 47,005 Less: Accumulated Depreciation (22,816) (21,543)

Total Capital Assets (Net of Accumulated Depreciation) 24,189 25,462

Total Noncurrent Assets 24,189 25,462 Total Assets 5,528,342$ 5,407,340$

Current LiabilitiesAccounts Payable 373,316$ 380,571$


Noncurrent Liabilities Landfill Closure Liability 2,838,673 2,721,258


Net Investments in Capital Assets 24,189 25,462 Unrestricted 2,292,164 2,280,049 Total Net Position 2,316,353$ 2,305,511$

This balance sheet reflects the activity of the Refuse Fund.

LIABILITIES

NET POSITION

ASSETS

25

25

Lake Havasu City Refuse Fund- Unaudited

Summary of Revenues and ExpensesFor the Month Ended November 30, 2014 - 58% of the Year Remaining

Lake Havasu CityRefuse Fund - Unaudited



Charges for Service 5,851,400$ 487,612$ 486,842$ 2,438,060$ 2,343,539$ $ 2,405,190 3,507,861$ 59.95%Investment Earnings 55,000 4,583 2,928 22,915 19,127 53,510 35,873 65.22%

Total Revenues 5,906,400$ 492,195$ 489,770$ 2,460,975$ 2,362,666$ 2,458,700$ 3,543,734$ 60.00%

Professional Services 188,056$ 15,670$ $ 5,133 78,350$ $ 20,644 $ 18,332 $ 45,942 121,470$ 64.59%Other Purchased Services 68,564 5,712 6,699 28,560 25,025 23,864 24,168 19,371 28.25%Utility Services 34,000 2,833 2,318 14,165 9,272 11,319 - 24,728 72.73%Miscellaneous - - 664 - 997 978 - (997) 0.00%Inter-Cost Allocations 566,253 47,184 47,188 235,920 235,939 233,395 - 330,314 58.33%Depreciation 1,175 97 98 485 490 392 - 685 58.30%Programs/Outside Contract 4,500,000 375,000 374,275 1,875,000 1,869,099 1,829,143 - 2,630,901 58.46%Transfers Out 480,000 40,000 6,385 200,000 32,549 1,830,070 - 447,451 93.22%

Total Expenses 5,838,048$ 486,496$ 442,760$ 2,432,480$ 2,194,015$ 3,947,493$ 70,110$ 3,573,923$ 61.22%Total Revenues Over (Under)

Total Expenses (1) 68,352$ 5,699$ 47,010$ 28,495$ 168,651$ (1,488,793)$




Prior Year to Date


26

26

Lake Havasu City Airport Fund - Unaudited

Balance Sheet

Lake Havasu CityAirport Fund - Unaudited

Balance Sheet



Accounts Receivable 19,153 10,015 Intergovernmental Receivable 7,381 35,306 Interest Receivable 37 19

Prepaid Expenses 5,247 5,178 Restricted Assets 24,524 24,211

Total Current Assets 108,076 108,647


Land 696,334 696,334 Buildings 3,410,745 3,409,737 Improvements Other than Buildings 23,939,401 23,744,397 Machinery and Equipment 579,230 546,924 Construction in Progress 122,000 306,452 Capital Leases 274,507 274,507




Current LiabilitiesAccounts Payable 3,663$ 34,132$ Accrued Payroll 964 679 Intergovernmental Payable 690 690 Interest Payable 305 63 Deferred Revenue 10,425 12,488 Liabilities from Restricted Assets 24,524 24,211 Capital Leases Payable 1,332 1,125 Compensated Absences 11,731 4,987


Noncurrent Liabilities Capital Leases Payable 40,389 41,991 Compensated Absences 1,834 5,076

Total Noncurrent Liabilities 42,223 47,067 Total Liabilities 95,857 125,442

Net Investments in Capital Assets 16,027,920 16,779,452 Unrestricted 53,940 26,321 Total Net Position 16,081,860$ 16,805,773$

This balance sheet reflects the activity of the Airport Fund.

LIABILITIES

NET POSITION

ASSETS

2727

Lake Havasu City Airport Fund Unaudited


Lake Havasu CityAirport Fund - Unaudited



Intergovernmental 280,725$ 23,392$ 1,039$ 116,960$ 7,381$ 29,075$ 273,344$ 97.37%Charges for Services 459,824 38,312 38,053 191,560 190,366 190,363 269,458 58.60%Rents & Leases 25,523 2,126 2,127 10,630 10,635 10,635 14,888 58.33%Investment Earnings 430 35 47 175 304 226 126 29.30%Miscellaneous - - 15 - 73 6 (73) 0.00%Transfers In 240,000 20,000 20,000 100,000 100,000 72,917 140,000 58.33%

Total Revenues 1,006,502$ 83,865$ 61,281$ 419,325$ 308,759$ 303,222$ 697,743$ 69.32%

Personnel Services 187,605$ 15,628$ 14,164$ 78,140$ 74,409$ 71,567$ -$ 113,196$ 60.34%Professional Services 3,582 298 (238) 1,490 976 309 474 2,132 59.52%Other Purchased Services 9,113 756 1,122 3,780 5,526 3,964 50 3,537 38.81%Utility Services 56,664 4,721 3,438 23,605 20,436 22,634 - 36,228 63.93%Repair & Maintenance Services 67,013 5,583 670 27,915 6,578 8,196 5,762 54,673 81.59%General Insurance & Claims 23,306 1,942 - 9,710 15,907 15,568 - 7,399 31.75%General Supplies 8,850 735 729 3,675 2,649 4,219 1,500 4,701 53.12%Maintenance and Operational Supplies 26,920 2,239 1,471 11,195 9,159 8,605 - 17,761 65.98%Inter-Cost Allocations 310,022 25,828 25,835 129,140 129,176 122,773 - 180,846 58.33%Depreciation 778,172 64,847 61,587 324,235 307,935 242,447 - 470,237 60.43%Capital Improvement Program 295,600 24,633 - 123,165 - - - 295,600 100.00%Capital Lease Principal 2,605 217 1,273 1,085 1,273 20,444 - 1,332 51.13%Capital Lease Interest 2,406 200 1,221 1,000 1,221 378 - 1,185 49.25%Contingency 7,000 583 - 2,915 - - - 7,000 100.00%Airport Grants 19,100 1,591 3,523 7,955 10,570 32,306 - 8,530 44.66%Transfers Out - - - - - 2,995 - - 0.00%Capitalized Expenses - - (1,273) - (1,273) (21,524) - - 0.00%

Total Expenses 1,797,958$ 149,801$ 113,522$ 749,005$ 584,542$ 534,881$ 7,786$ 1,204,357$ 66.98%Total Revenues Over (Under)

Total Expenses (1) (791,456)$ (65,936)$ (52,241)$ (329,680)$ (275,783)$ (231,659)$




Prior Year to Date


28

28

Lake Havasu City Capital Projects Summary Lake Havasu City

Capital Project SummaryAs Of November 30, 2014

Total ExpendituresProject Project Project Original Budget Revised YTD Including Remaining %

Number Description Manager Budget Adjustments Budget Expenditures Encumbrances Encumbrances Balance Spent

Community ServicesPK1070 Site Six Redevelopment Program BA 100,000$ -$ 100,000$ - -$ -$ 100,000$ 0.00%DS1020 Mesquite Ave Parking Structure MC 120,000 - 120,000 33,717 72,154 105,871 14,129 88.23%PR2070 Havasu 280 Infrastructure Master Plan JA 1,079,250 (4,707) 1,074,543 132 4,578 4,710 1,069,833 0.44%Total Community Services 1,299,250 (4,707) 1,294,543 33,848 76,732 110,581 1,183,962 8.54%

General Government AM1010 Deferred Maintenance for Public Facilities MC 495,000 - 495,000 - - - 495,000 0.00%IT1042 Lucity-IT Asset Management Software JA 120,000 13,650 133,650 8,628 - 8,628 125,022 6.46%CN1010 Contingency 4,508,000 - 4,508,000 - - - 4,508,000 0.00%PR1060 Rotary Community Park Expansion Land Acq. LD 682,000 - 682,000 - - - 682,000 0.00%Total General Government 5,805,000 13,650 5,818,650 8,628 - 8,628 5,810,022 0.15%

OperationsOperations-AirportAP1520 North Ramp Taxiways SJ 100,000 - 100,000 - - - 100,000 0.00%AP1530 Airport Pavement Preservation SJ 12,000 - 12,000 - - - 12,000 0.00%AP1570 Replace Obstruction Lights SJ 150,000 - 150,000 - - - 150,000 0.00%AP1640 Relocate & Construct Fire Hydrant-FS #6 SJ 45,600 45,600 - - - 45,600 0.00%Subtotal Operations-Airport 307,600 - 307,600 - - - 307,600 0.00%

Operations-DrainageST2790 Roadway Drainage Improvements MC/ RW 800,000 - 800,000 38,822 1,216 40,038 759,962 5.00%ST2930 Drainage Improvement Program MC/ RW 800,000 - 800,000 117 - 117 799,883 0.01%ST3070 Wash Stabilization Program MC/ RW 1,500,000 - 1,500,000 - - - 1,500,000 0.00%ST3110 Drainage Improvements Eng Services MC/ RW 425,000 - 425,000 207,502 - 207,502 217,498 48.82%ST3120 North Havasu Area/Air Ind Pk Drain Imp MC 208,681 (229) 208,452 - 23,813 23,813 184,639 11.42%Subtotal Operations-Drainage 3,733,681 (229) 3,733,452 246,440 25,029 271,469 3,461,982 7.27%

Operations-ParksPK1010 London Bridge Beach Restroom Improvements MC 100,000 - 100,000 - - - 100,000 0.00%PK1020 Rotary Park Restroom Improvements MC 120,000 - 120,000 - - - 120,000 0.00%PK1030 Community Athletic Field Needs Assessment DK 150,000 - 150,000 66 - 66 149,934 0.04%PK1040 Tinnell Skate Park ADA Parking JA 90,000 - 90,000 - - - 90,000 0.00%PK1050 Aquatic Center Parking Tie JA 50,000 - 50,000 - - - 50,000 0.00%PK1080 SARA Park Trailhead Improvements MC 52,012 - 52,012 - - - 52,012 0.00%PR3021 Maint. Srvcs-Rotary Park Grounds Bldg. MC 20,000 - 20,000 - - - 20,000 0.00%Subtotal Operations-Parks 582,012 - 582,012 66 - 66 581,946 0.01%

Operations-Streets ST2620 London Bridge Maintenance MC/ RW 624,342 - 624,342 66,103 28,229 94,331 530,011 15.11%ST2630 Intersection Improvements MC 190,000 (9,507) 180,493 178,742 11,800 190,542 (10,049) 105.57%ST3090 City Owned Planter Strips MC - - - 586 - 586 (586) 0.00%ST3210 Lake Havasu Ave Pavement Rehab JA 350,000 - 350,000 15,399 - 15,399 334,601 4.40%ST3220 McCulloch Blvd Pavement Rehab MC 600,000 - 600,000 - - - 600,000 0.00%ST3230 Wayfinding Program MC 600,500 - 600,500 - - - 600,500 0.00%ST3240 PARA Study and Implementation-McCulloch RW 50,000 - 50,000 - - - 50,000 0.00%ST3260 Palo Verde Pavement Rehab TB - - - 41,005 - 41,005 (41,005) NASubtotal Operations-Streets 2,414,842 (9,507) 2,405,335 301,835 40,028 341,863 2,063,472 14.21%

29

Lake Havasu City Capital Projects Summary

Lake Havasu CityCapital Project SummaryAs Of November 30, 2014

Total ExpendituresProject Project Project Original Budget Revised YTD Including Remaining %

Number Description Manager Budget Adjustments Budget Expenditures Encumbrances Encumbrances Balance Spent

Operations-WastewaterSS2630 Mulberry Effluent Basin Expansion JA 125,000 - 125,000 11 - 11 124,989 0.01%SS2900 Vadose Zone Wells #6 & #7 JA 370,000 - 370,000 - 9,304 9,304 360,696 2.51%SS2910 Chip Drive Pump Stations Rehabilitation JA 108,000 (254) 107,746 65,367 5,610 70,977 36,769 65.87%SS2920 Island Plant Tertiary Filter Reconstruction JA 672,932 (140,883) 532,049 455,487 - 455,487 76,562 85.61%SS2930 London Bridge Road Pump Station Rehab JA 239,500 - 239,500 19,436 34,416 53,852 185,648 22.49%SS2940 SCADA Upgrade JA 1,000,000 - 1,000,000 56 - 56 999,944 0.01%SS2950 WWSE Oversight Finalization JA 100,000 - 100,000 53,629 43,404 97,033 2,967 97.03%SS2960 Effluent Reuse Enhancement JA/DW 40,000 - 40,000 62 - 62 39,938 0.15%SS2970 Water Conservation Program Implementation JA/DW 171,000 - 171,000 - - - 171,000 0.00%SS2980 WAPA Reuse Pipeline Feasibility Study JA/DW 110,000 - 110,000 - - - 110,000 0.00%SS2990 IWWTP Headwork's JA - - - 3,232 19,506 22,738 (22,738) 0.00%Subtotal Operations-Wastewater 2,936,432 (141,137) 2,795,295 597,280 112,239 709,519 2,085,776 25.38%

Operations-WaterWT3080 Water Main Replacement Program RW 1,650,000 - 1,650,000 798,832 56,220 855,053 794,947 51.82%WT5090 Water Tank Rehab & Maint Program RW 350,000 - 350,000 146 32,829 32,975 317,025 9.42%WT6010 Refurbish and Re-Equip Existing Wells RW 675,000 - 675,000 - - - 675,000 0.00%WT6020 Well Expansion Program RW 442,474 - 442,474 350 178,840 179,190 263,284 40.50%WT6050 North Water System Improvements RW 400,000 - 400,000 - - - 400,000 0.00%WT6060 Booster Station 1B Replacement RW 3,114,018 - 3,114,018 48,927 127,152 176,079 2,937,939 5.65%WT7040 Booster Sta 4 Replacement & Add Storage RW 484,822 - 484,822 19,535 - 19,535 465,287 4.03%WT7050 Booster Sta 5 Replacement & Add Storage RW 1,627,723 - 1,627,723 736,221 345,716 1,081,937 545,786 66.47%WT7160 Water Treatment Plant Improvements RW 200,000 - 200,000 - - - 200,000 0.00%WT7300 MCWA-Water Allocation RW 83,000 - 83,000 - - - 83,000 0.00%WT7330 Firming Agreement Sub-Cont #2 RW 50,366 - 50,366 12,592 37,775 50,366 - 100.00%WT7350 Booster Station 6A RW 1,897,962 - 1,897,962 1,950 85,500 87,450 1,810,512 4.61%WT7380 Ext./Connection of Waterline-SARA Park RW 704,645 - 704,645 118,026 564,621 682,647 21,998 96.88%Subtotal Operations-Water 11,680,010 - 11,680,010 1,736,579 1,428,653 3,165,232 8,514,778 27.10%

Total Operations 21,654,577 (150,873) 21,503,704 2,882,200 1,605,950 4,488,150 17,015,554 20.87%

Total Capital Projects 28,758,827$ (141,930)$ 28,616,897$ 2,924,677$ 1,682,682$ 4,607,358$ 24,009,539$ 16.10%

BA Brian AllenDK Dan KeyesDW Doyle WilsonJA Jeremy AbbottLD Larry DidionMC Mark ClarkRW Richard WellsSJ Steve JohnstonTB Terry Brown

Project Manager Key

30

Lake Havasu City Grants

Lake Havasu CityGrants

November 30, 2014

Total BalanceEnd Total Expensed Encumbrance To

Description Date Grant To Date Balance Spend

City AttorneyVictims of Crime Act (VOCA) 9/30/2015 19,205$ 6,400$ -$ 12,805$

Total City Attorney 19,205 6,400 - 12,805

OperationsAirport

Airport PAPI - ADOT 6/30/2016 36,456 36,456 - - Apron Lighting Upgrade (AP1630) - FAA 6/30/2017 196,210 177,571 - 18,639 Apron Lighting Upgrade (AP1630) - ADOT 6/30/2017 9,632 8,716 - 916 Relocate Fire Hydrant (AP1640) - ADOT 7/31/2018 36,000 - - 36,000 Erosion Control & FOD (AP1650) - ADOT 7/31/2018 297,000 - - 297,000

Subtotal Airport 575,298 222,743 - 352,555

MPOMetropolitan Planning Organization-PL 6/30/2015 97,957 97,957 - - Metropolitan Planning Organization-PL 6/30/2015 73,682 4,497 - 69,185 Metropolitan Planning Organization-SPR 6/30/2016 125,000 - 125,000 - Metropolitan Planning Organization-SPR 6/30/2016 31,250 - - 31,250 Metropolitan Planning Organization-5303 9/30/2016 23,509 805 - 22,704 Metropolitan Planning Organization-5303 9/30/2017 24,012 - - 24,012 Metropolitan Planning Organization-5304 6/30/2017 50,000 - 48,800 1,200

Subtotal MPO 425,410 103,259 173,800 148,351

StreetsHSIP - Pedestrian Countdown 6/30/2015 78,701 64,203 - 14,498 HSIP - Signs 6/30/2015 210,750 140,782 - 69,968 HSIP - Signal Controllers 6/30/2015 31,800 29,779 - 2,021

Subtotal Streets 321,251 234,764 - 86,487

TransitTransit Services IGA #60- Admin 9/30/2014 190,906 75,595 - 115,311 Transit Services IGA #60- Operations 9/30/2014 558,528 294,907 - 263,621 Transit Services IGA #60- Capital 9/30/2014 283,878 91,006 - 192,872

Subtotal Transit 1,033,312 461,508 - 571,804

WastewaterBOR -Design for Effluent Conversions 10/31/2015 93,500 - - 93,500

Subtotal Wastewater 93,500 - - 93,500

WaterBureau of Land Management 8/11/2016 31,107 2,993 - 28,114 BOR - LHUSD Irrigation System Upgrade 9/30/2014 99,836 99,836 - -

Subtotal Water 130,943 102,829 - 28,114 Total Operations 2,579,714 1,125,103 173,800 1,280,811

Community ServicesCDBG 105-14 - Admin/Housing 12/30/2015 463,313 223,239 - 240,074 SSP 134-14 - Admin/Housing 5/31/2016 151,840 29,337 8,331 114,172 AZ State Parks - Sara Park Trail Improvements 9/9/2016 52,012 - - 52,012

Total Community Services 667,165 252,576 8,331 406,258

FireHomeland Security - Haz Mat Project 9/30/2015 24,404 - - 24,404 Homeland Security - Technical Rescue Project 9/30/2015 14,274 - - 14,274

Total Fire 38,678 - - 38,678

PoliceAZ Post - WALETA Training 6/30/2015 163,800 8,172 - 155,628 AZ Post - Training 6/30/2015 23,494 2,378 - 21,116 DOJ - Bullet Proof Vests 8/31/2016 12,163 1,634 1,966 8,563 GOHS- DUI Alcohol Overtime 9/30/2014 20,000 19,731 - 269 GOHS- DUI Alcohol Overtime 9/30/2015 10,000 - - 10,000 GOHS- Four Radar Units 9/30/2014 5,000 4,927 - 73 Mohave General Narcotics Enforcement Team (MAGNET) 6/30/2015 137,713 28,410 - 109,303 Homeland Security - Multi-Band Radio 7/31/2014 7,518 7,169 - 349

Total Police 379,688 72,421 1,966 305,301

Total Grants 3,684,450$ 1,456,500$ 184,097$ 2,043,853$

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monthly financial report for november

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intergovernmental revenue