City of Cotati
Summary of Fiscal Resiliency General Fund Factors
As of:
General Fund:
Cash*
Budget Operating
Expenses Cash Coverage Goal
A. Cash Coverage Ratio = $ 3,016,746 $ 9,447,826 31.93% > 25% Cash* Current Liabilities** Quick Ratio Goal
B. Liquidity Ratio: = $ 3,016,746 $ 385,044 7.84 > 2.00 Total Revenues To
3/31/2024
Budget Revenues
(Annualized)
Revenues to
Budget Goal
C. Total Revenue to Budget = $ 6,373,399 $ 8,020,525 -21% > - 10% Total Revenues To
3/31/2024
Prior Year Revenues
3/31/2023
Revenues to Prior
Year
Total Revenue to Prior Year = $ 6,373,399 $ 6,103,894 4% Ref: Prior year Revenue to Budget (Annualized) was = -22% D. Decline in Revenue or Increase in Expenditures
Revenues evaluated at item C. above.
Operating
Expenditures
3/31/2024
Budget Expenditures
(Annualized)
Expenditures to
Budget Goal
Operating Expenditures Compared to Budget $ 6,317,040 $ 7,085,870 -11% < 10% Operating
Expenditures
3/31/2024
Prior Year
Expenditures
03/31/2023
Expenditures to
Prior Year
Operating Expenditures Compared to Prior Year $ 6,317,040 $ 5,898,033 7% Sunday, March 31, 2024
Significant revenues are received either irregularly, like Property Tax which is received in December then again in April and July, or two months in arrears like sales tax. As these revenues are lagging it is typical for the projections to budget to lag. The variance in receipts is consistent with the Prior Year. As such not considered a significant risk.
City of Cotati
Summary of Fiscal Resiliency General Fund Factors
As of:
General Fund:
Sunday, March 31, 2024
E. Significant Revenue Sources Changes
Current Year to Date
3/31/2024
Prior Year to
03/31/2023 % Change Goal
Bradley Burns $ 1,648,141 $ 1,681,409 -2.0% > - 10%
Measure S $ 1,825,030 $ 1,785,175 2.2%
Combined Sales Tax $ 3,473,171 $ 3,466,584 0.2%
Property Tax $ 1,161,066 $ 1,086,868 6.8%
Current Year to Date
3/31/2024 Budget (Annualized) % Change Goal
Bradley Burns* $ 1,648,141 $ 1,731,917 -4.8% > - 10%
Measure S* $ 1,825,030 $ 1,817,083 0.4%
Combined Sales Tax* $ 3,473,171 $ 3,549,000 -2.1%
Property Tax** $ 1,161,066 $ 1,065,879 8.9%
F. Community Event Identification: None Noted
Total Revenues To
3/31/2024
Operating
Expenditures
3/31/2024
Revenues to
Expenses Goal
G. Operating Revenues to Operating Expenditures $ 6,373,399 $ 6,317,040 101% > 110% Ref: Prior year Revenue to Expenses was = $ 6,103,894 $ 5,898,033 103% * Cash incudes the pooled cash attributable to the evaluated fund which consists of all liquid available cash and investments held including CD's and Treasury notes. ** Current Liabilities are the total of all liabilities for the evaluated fund, as of the reporting date, that are due and payable within one year.
Due to delays in receipts as mentioned in item C. above, it is consistant that the coverage for reveneus would be lower through this period to date. This will continue to be monitored for risk.
* - Sales Tax - 7 of the 12 monthly payments have been received to date as they are received two months after the collection period they represent. ** - Property Tax - 1/2 of the annual payments have been received to date. Another payment is to be received in April with an adjustment payment in June.
Though no indicator was noted, this will continue to be monitored.
City of Cotati
Summary of Fiscal Resiliency Enterprise Fund Factors
As of:
Enterprise Funds
Cash*
Budget Operating
Expenses Cash Coverage Goal
A. Cash Coverage Ratio = > 33%
Water Fund $ 3,444,351 $ 2,389,166 144.17%
Sewer Fund $ 3,381,213 $ 4,212,328 80.27%
Cash* Current Liabilities** Quick Ratio Goal
B. Liquidity Ratio: = > 2.0
Water Fund $ 3,444,351 $ 98,743 34.88
Sewer Fund $ 3,381,213 $ 49,113 68.85
Water Operating
Total Revenues To
3/31/2024
Budget Revenues
(Annualized) Revenues to Budget Goal
C. Total Revenue to Budget = $ 1,759,153 $ 1,716,600 2% > - 10% Total Revenues To
3/31/2024
Prior Year Revenues
3/31/2023
Revenues to Prior
Year
Total Revenue to Prior Year = $ 1,759,153 $ 1,450,685 21% Sewer Operating
Total Revenues To
3/31/2024
Budget Revenues
(Annualized) Revenues to Budget
Total Revenue to Budget = $ 2,462,036 $ 2,331,953 6%
Total Revenues To
3/31/2024
Prior Year Revenues
3/31/2023
Revenues to Prior
Year
Total Revenue to Prior Year = $ 2,462,036 $ 1,959,824 26% D. Decline in Revenue or Increase in Expenditures
Revenues evaluated at item C. above.
Water Operating
Operating
Expenditures
3/31/2024
Budget Expenditures
(Annualized)
Expenditures to
Budget Goal
Operating Expenditures Compared to Budget $ 1,319,460 $ 1,617,500 -18% < 10% Operating
Expenditures
3/31/2024
Prior Year
Expenditures
3/31/2023
Expenditures to
Prior Year
Operating Expenditures Compared to Prior Year $ 1,319,460 $ 1,428,604 -8% Sewer Operating
Operating
Expenditures
3/31/2024
Budget Expenditures
(Annualized)
Expenditures to
Budget
Operating Expenitures Compared to Budget $ 2,320,323 $ 2,637,996 -12% Operating
Expenditures
3/31/2024
Prior Year
Expenditures
3/31/2023
Expenditures to
Prior Year
Operating Expenditures Compared to Prior Year $ 2,320,323 $ 2,508,011 -7% Sunday, March 31, 2024
City of Cotati
Summary of Fiscal Resiliency Enterprise Fund Factors
As of:
Enterprise Funds
Sunday, March 31, 2024
E. Supporting Agency Change In Rates
1-Jul-24 Goal
Budgeted Rate Agency Rate Difference < 2%
Sonoma County Water Agency (65% of supply) 6.00% 9.98% 3.9800% Santa Rosa Wastewater Treatment 9.00% 6.38% -2.6200%
Total Revenues To
3/31/2024
Operating
Expenditures
3/31/2024
Revenues to
Expenses Goal
F. Operating Revenues to Operating Expenditures > 110%
Water Fund $ 1,759,153 $ 1,319,460 133%
Sewer Fund $ 2,462,036 $ 2,320,323 106%
Ref: Prior year Revenue to Expenses was = $ 1,959,824 $ 2,508,011 78% * Cash incudes the pooled cash attributable to the evaluated fund which consists of all liquid availble cash and investments held including CD's and Treasury notes. ** Current Liabilites are the total of all liabilities for the evaluated fund, as of the reporting date, that are due and payable within one year.
With the move to monthly billing the City has been better able to regulate even revenues and cash flows consistant with the related expenditures. This will continue to be monitored for possible higher risk.