Cost Versus Budget Reports * Profit and Loss Reports * Employee Salaries / Fringe Benefits * Additional Financial Reports

Cost Versus Budget Reports

April 2013
Files are provided in PDF format 

Each report has three sections.

• The top section is a graphic representation of the annual budgeted expenditures and the year-to-date actual expenditures
• The mid section provides the summary level budget, actual expenditure year-to-date and monthly variance by month.
• The bottom section provides additional detail with the original budget, year-to-date actual expenditures, encumbrances (legal contracts in process), and year-to- date percentage of cost to budget by expenditure category.

Profit and Loss Reports

Profit and Loss Report – February 2013

Profit and Loss Reports are produced for each proprietary fund.  These are funds that function as individual internal city business where services are provided and the user fees are collected for the services.  These are Enterprise and Internal Service Funds.

Each report provides the annual budget, year-to-date actual expenditures, variance and percentage of budget spent year-to-date.  The variance is the difference between total budget and actual expenditures. The report is broken down to identify Revenue and Expenditures by category with a calculation of net income or loss for the period.

Employee Salaries

Employee Salary List - Calendar Year 2012

Employee salaries include a variety of different categories, which are explained below.

Base Pay -  Salary or wages based on job, grade, and/or step

Longevity Pay -  Longevity Pay recognizes long-term service of employees.  The percentage increases as length of service increases to a maximum established by contract and/or pay group.  Longevity pay has been eliminated for appointive, CEA, and POA employees hired after 9/2001, 1/2011 and 6/2011 respectively.

Overtime - Compensation for time worked in excess of base schedule. This includes regular overtime, callback overtime, holiday overtime and Fair Labor Standards Act (FLSA) overtime 

Allowances & Other - This category includes several subcategories of compensation paid in addition to base pay and overtime.

Fringe Benefits

* No leave for Elected or Hourly employees
Fringe Benefits are defined as costs paid by the city for employees related to retirement, group insurance, allowances, paid time off, etc. Included in paid time off benefits are items such as vacation, sick time, holiday and any other time the employee is compensated but not working. 

Instead of charging each benefit separately to departments by employee, the city accumulates these costs into a pool. The costs from this pool are distributed back to departments based on the Labor Burden Fringe Benefit Rate shown in the table above.

The Labor Burden Fringe Benefit Rate is calculated based on the estimated time worked for the fiscal year divided by the total estimated costs of the Fringe Benefit pool. The rate is periodically reviewed and updated to ensure that the rate being charged is sufficient to cover the Fringe Benefits. The city has four such rates depending on the retirement requirement and employee group (e.g., elected, appointive, classified, fire or hourly). 

The 100% Salary Fringe Benefit Rate is calculated based on total salary of an employee divided by the total estimated costs of the Fringe Benefit pool excluding time not worked.

It is important to note that each employee’s actual usage of paid time off, group insurance choice and other contractual benefits, can vary widely from employee to employee.  The use of the Fringe Benefit rate allows for a standard method to allocate costs over all departments.

Additional Financial Reports

Treasury Reports
City of Las Vegas Budgets
Redevelopment Agency Budgets
Redevelopment Agency Comprehensive Annual Financial Report (CAFR)
Comprehensive Annual Financial Report (CAFR)
Accounts Payable Quarterly Disbursements, January - March 2013