Agenda

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Brentwood ECD Agenda

Meeting Date:	01/25/2021
Submitted by:	Karen Harper, Finance
Department:	Finance

Information

Subject

ECD Quarterly Revenue and Expense Report

Background

Financial Reporting

Please find attached the second quarter of fiscal year 2021 revenue and expense report for the Emergency Communications District (ECD) Fund. This report shows unaudited budget to actual comparisons for the first six months of the 2020-2021 fiscal year.

Year to date revenues collected as of December 31, 2020 are $1,222,806 or 80% of budget. Year to date expenses are $799,214 or 53% of budget. For comparison purposes, for the same six-month period for fiscal year 2020, revenues were $938,935 or 65% of budget, and expenses were $804,813 or 56% of budget. The difference between FY 2021 and FY 2020 year-to-date revenues is partially due to the receipt of a special distribution authorized by TECB (Tennessee Emergency Communications Board) during the June 8, 2020 meeting for the purpose of "bridging the gap" between the start of fiscal year 2021 on July 1, 2020 and the effective date of SJR0836 (to increase the 911 surcharge rate to $1.50) implementation on January 1, 2021.

Other Items of Interest

The rate increase from 1.16 to 1.50 was effective on January 1, 2021 and is expected to increase ECD 911 revenues $300,000 per year. The City's first monthly distribution at the increased rate will be February, 2021.

Please advise if you have any questions concerning the Emergency Communications District (ECD) revenue and expense quarterly report as of December 31, 2020.

Staff recommendation

N/A

Fiscal Impact

Attachments
ECD December 31, 2020 Quarterly Report