Tuesday, Oct. 28

 \\

Lincoln annual treasurer's report Send a link to a friend

[OCT. 28, 2003] 

[Text posted as-is from scans of treasurer's report.]

ANNUAL TREASURER'S REPORT FOR FISCAL YEAR ENDING APRIL 30, 2003

The Annual Treasurer's Report for the past Fiscal Year ending April 30, 2003 was recently distributed to City Council Members. This report was prepared and distributed by the City Clerk's Office by City Clerk Melanie Riggs. The report, after approved by the Finance Committee, will be published in the Courier and a copy given to the Logan County Treasurer in accordance with State laws for municipalities. We are waiting for the official audit report to be completed before the report is published.

The DISCLAIMER attached to the front of the report includes several finding accounts which are not at the discretion of the City Council, Mayor, or the City Treasurer. These funds are managed by other parties or individuals within the framework of the city government. Such funds include: Special Fire Department; DUI Fund: Drug Forfeiture Fund; Police Task Force Fund; E911 1 Fund; E.R.T. Team; and the D.A.R.E. Fund. These funds totals are reflected in the Treasurer's Report and also the audit totals for the City.

The Annual Treasurer's Report lists a Revenue Summary; Compensation Summary; Fire
Pension Payments; Police Pension Payments; Expenditures (Vendors) Summary; and a
Statement of Condition for the Fiscal Year. PLEASE NOTE THE REPORT IS ON A
CASH BASIS FOR THE 2002-2003 FISCAL YEAR.

Perhaps the best way to analyze the report is to compare this year's Statement of Condition with the past few years. This will give City Council Members a comparative look as to revenues received, expenditures in various accounts, and the remaining FUND BALANCES not only for the past Fiscal Year, but, at the close of the two previous Fiscal Years as well. Hopefully, this type of analysis of the Annual Treasurer's Report will be most useful to Council Members at this time.

COMPARATIVE SUMMARY ON STATEMENT OF CONDITIONS

FUND BALANCES
2001 2002 2003
General Fund $ 1,642,500 $ 972,178 $ 899,827
Special Revenue $ 1,316,000 $ 924,906 $ 961,009
Debt Service $ 13,018 $ 10,435 $ 7,069
Cap. Projects $ 476,441 $ -0- $ 624,084
Enter-prise $ 137,702 $ 148,371 $ 1,496,587
Internal Service $ 38,829 $ 46,957 $ 103,515
Trust $15,863,302 $16,233,488 $16,232,405

NOTE: explanation of funds mentioned above follows expenditures.

COMPARATIVE EXPENDITURES
OVER PAST 3 YEARS

  2001 2002 2003
Salaries $ 2,924,615 $ 3,101,659 $3,110,429
Fire Pensions $ 473,866 $ 551,242 $ 611,536
Police Pensions $ 439,451 $ 489,195 $ 497,327
Vendors $ 6,122,791 $5,011,196 $ 4,688,576

TOTAL

 $ 9,960,723 $ 9,153,292 $ 8,907,868

NOTE: City of Lincoln expended 2.68% less than last Fiscal Year.

For those who read and try to interpret or analyze this report, we have provided some information below concerning the contents of the various accounts which are included in the FUND BALANCES mentioned on the previous page:

General Fund: Includes General Fund, Special Fire Dept., Drug Forfeiture, Police Task Force, E.R.T. Team, DUI Fund, D.A.R.E., E911, Fire Protection, Police Protection, and Streets and Alleys.

Special Rev.:
Includes Audit, ESDA, Fire Protection, Forestry, Liability Insurance, Motor Fuel Tax, IMRF, Police Protection, Public Benefits, Streets & Alleys, and Crossing Guards.

Debt Service: Includes funds left over from payment of debt service fees.

Cap. Projects: Funds left over for capital improvement projects to be expended on future Projects.

Enterprise:
Includes Sewer Operations & Administration, Illinois EPA Loan Fund, and Contingency and Depreciation.

Intern. Ser.: Includes only the Rental Equipment Fund.

Trust Fund: Includes Police Pension Fund, Firemen's Pension Fund, and the Revolving Fund.

The chart [below] compares Revenues over the past five years. A written summary outlining some changes in Revenues as compared to last Fiscal Year is also included to assist Council Members. This summary may or may not be helpful in future Budget planning or in understanding the changes in revenues cited in the chart. If it raises questions, then, Council Members should follow up on those inquiries in the City Clerk's Office.

[to top of second column in this section]

 

BUILDING PERMITS
The City had a 86.4% increase in building permit revenues compared to last year.

DONATIONS
We recorded a 28.3% increase over last year in this revenue source.

CIRCUIT CLERK
Circuit Clerk collections for the city increased this year from $156,610 to $171,396.

 


DRUG FORFEITURE FUND
This source of revenue did not produce funds this Fiscal Year.

FRANCHISE FEES
Franchise fees increased 28% as compared with last year.

GRANTS
There was a decrease from $ 31,257 last year to $30,485 this year.

INTEREST
The breakdown for the interest receipts were Fire & Police Pensions ($ 353,934); City and other funds ($48,533). This represents a loss of 50% overall. We received a total of $ 806,347 last year and only $ 402,467 in 2002-2003.

 


LICENSES
Licenses increased 11.3% in 2002-2003 after having a 2.8% increase in 2001—2002.

MOTOR FUEL TAX
This normally steady increasing source of revenue increased 2% this year.

PARKING METER COLLECTION
Parking meter collections decreased 38% compared to last year.

PROPERTY TAX
The City experienced an increase of 1.35% in property tax revenues over the previous year. The increase last year was 1.86%.

REPLACEMENT TAX
This tax source showed a 18.7% loss

SALES TAX
Sales tax receipts increased $ 3,151 as compared to last fiscal year. Consumer Spending drives the sales tax receipts up or down. Our current economy has us in a downward trend at present- a nationwide trend, not just Lincoln, Illinois. Perhaps we are on an upward trend in local sales.

SEWERAGE RECEIPTS
Sewerage receipts were up 35.7% in 2002-2003 due to the increased sewer rates put in place to upgrade the disposal plant as required by the IEPA.

STATE INCOME TAX
The State Income tax distribution for Lincoln was $51 higher this past fiscal year than in 200 1-2002. Big increase, right?

TELECOMMUNICATIONS INFRASTRUCTURE FEES
This relatively new source of revenue added $62,432 to city coffers in 200 1-2002 and decreased to $53,255 in FY 2002-2003. This year (2003-2004) we have received almost $ 34,000 over a five month period.

If Council Members have questions about the data presented in this report it is recommended that you seek some answers from the City Clerk's Office. When unusual differences occur in REVENUES/EXPENDITURES there is normally a simple explanation for those differences. If you need to know more about City finance it is suggested that you spend a few minutes of spare time with the City Clerk to obtain some information and valuable assistance.

Hopefully, this report will help provide some input and some understanding about FISCAL YEAR 2002-2003 finances and that it will assist Council Members as they work on Committee Assignments and in structuring Budgets in future years. Since a Budget is basically a working plan of estimated revenues and expenditures based upon past experiences and present needs, Council Members should look to past fiscal patterns to make decisions about spending and suggested improvements.

I believe that as Council Members you have to realize that we have experienced a very difficult year in municipal financing. You are not alone as most other cities have had the same kind of set backs in normally steady financing trends. We can blame September 11 for some of the woes, but, as a nation we were in a free fall prior to the terrorist attack which added to our economic problems. We have to be patient and wait for better times while doing as much as we can for the residents of this community. We all look forward to better times ahead. Besides being patient while the economy improves we must also be prudent in our spending habits. I know we will survive these difficult times.

 

Lester D. Plotner, City Treasurer
(10/20/03)
 
Source 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003

2% Foreign Fire Insurance

$7,398

$7,756

$7,494

$8,080

$9,508

Building Permits

$16,681

$30,579

$22,503

$20,427

$38,081

Circuit Clerk

$196,657

$188,435

$184,718

$156,610

$171,346

Donations

$8,704

$3,255

$6,661

$7,937

$30,359

Drug Forfeiture Funds

$6,658

-0-

$43,638

-0-

-0-

Equipment Rental

$164,966

$150,019

$143,171

$169,782

$150,304

Franchise Fees (Cable)

$115,165

$114,165

$122,671

$117,267

$150,086

Grants

$807,079

$124,347

$657,570

$31,257

$30,485

Insurance Reimbursement

$12,824

$6,167

-0-

$27,173

-0-

Interest

$1,015,845

$968,724

$1,262,206

$806,347

$402,467

Licenses

$53,410

$43,049

$48,178

$49,532

$55,158

Miscellaneous

$38,549

$49,644

$45,991

$45,599

$41,441

Motor Fuel Tax

$368, 117

$414,556

$447, 187

$429,134

$437,905

Parking Meter Collection

$5,014

$6,034

$12,251

$11,317

$7,016

Property Taxes

$1,480,450

$1,437,924

$1,410,178

$1,436,494

$1,455,916

Payroll Deductions/Contributions

$159,731

$167,384

$177,145

$218,738

$217,251

Replacement Tax

$205,780

$221,268

$206,069

$193,690

$157,301

Sales Tax

$1,919,109

$2,205,870

$2,223,348

$2,067,865

$2,071,016

Sewerage Receipts

$1,360,365

$1,354,226

$1,306,726

$1,608,189

$2,182,397

State Income Tax

$1,082,320

$1,146,530

$1,183,425

$1,009,896

$1,009,947

Violations

$175

$320

$360

$490

$140

Bond Proceeds

-0-

$465,000

-0-

-0-

$620,000

Telecommunication Fees

$64,542

$76,770

$87,965

$62,432

$53,255

Loan Proceeds

 

 

 

 

$1,604,651

TOTAL

$9,089,539

$9,182,032

$9,599,455

$8,478,256

$10,896,030

COMPARATIVE REVENUES OVER 5 YEARS

Articles from the past week

Monday:

Saturday:

Friday:

Thursday:

Wednesday:

Tuesday:

Back to top

 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor