072307 - Item 4ACity of Atlantic Beach AGENDA rrEM # 4A
FINANCIAL REPORT ~-Y23'2o0'
June 2007
Cash Balances
Fund
General
Tree Replacement
Convention Development Tax
Local Option G~~s Tax
Better Jax 1/2 Cent Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Utility
Sanitation
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
Prior
05/31 /07
$6,274,998
9,713
208,887
199,657
1,301,099
18,590
93,877
62,868
3,718,619
362,624
2,174,578
28,440
6,116
$14,460,066
Current Dollar
06/30/07 Change
$5,955,761
9,713
209,783
224,500
1, 325,186
18,439
84,137
59,970
3, 875, 504
381,002
2,232,709
19, 024
20,252
$14,415,980
$6,772,974
($319,237)
$0
$896
$24,843
$24,087
($151)
($9,740)
($2,898)
$156, 885
$18,378
$58,131
($9,416)
$14,136
($44,086)
$7,643,006
Cash and Investments
Account
Prior Current
05/31 /07 06/30/07
Bank of America -Depository
SBA
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
$242,489
14,215,027
2, 550
14,460,066
$374,321
14,039,109
2,550
14,415,980
5,644,872
8,701,507
14,346,379
Total $28,806,445
5,620,833
8,675,058
14,295,891
Dollar Rate of
Change Return
$131,832
(175,918)
0
(44,086)
4.56 (1)
5.39 (1)
(24,039)
(26,449)
(50,488)
6.40 (2)
6.60 (2)
$28,711,871 ($94,574)
(1) Monthly rate of return annualized
(2) FYTD rate of return through 03/31/07
City of Atlantic Beach AGENDA ITEM#4A
JULY 23, 2007
FINANCIAL REPORT
June 2007
Revenues
Fund / (Footnote)
General (1)
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 1/2 Ct Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Utility
Sanitation (2)
Storm Water (3)
Pension -Police (4)
Pension -General (4)
Tota I
Annual YTD - 75% YTD Dollar Percent
Estimate of Estimate Actual Variance Variance
$10,776,532 $8,082,399 $8,848,566 $766,167 9.48%
0 0 0 0 0.00%
81,000 60,750 54,581 (6,169) -10.15%
563,042 422,282 406,305 (15,977) -3.78%
761,298 570,974 599,454 28,480 4.99%
31,250 23,438 36,115 12,677 54.09%
216,450 162,338 211,438 49,100 30.25%
73,048 54,786 55,187 401 0.73%
6,750,002 5,062,501 4,992,799 (69,702) -1.38%
1,558,200 1,168,650 1,043,064 (125,586) -10.75%
1,862,500 1,396,875 1,136,227 (260,648) -18.66%
765,862 574,397 780,103 205,706 35.81%
1,096,364 822,273 1,319,045 496,772 60.41
$24,535,548 $18,401,663 $19,482,884 $1,081,221
Analysis of Major Variances
(1) The $766,167 positive variance in the General Fund resulted from having received 96%
of the budgeted property taxes in December, 2006 through June, 2007. Typically the
majority of these taxes are received from the City of Jacksonville in December &
January. Also, the 4th quarter of 2006 reimbursement for Beach Maintenance &
Lifeguards was received from the City of Jacksonville in October, 2006.
(2) The $125,586 negative variance in the Sanitation Fund resulted from the budgeted
revenues being increased $96,000 in anticipation of an increase in rates effective June
1, 2007.
(3) The $260,648 negative variance in the Stormwater Fund resulted from not having
received the grant for the Hopkins Creek Retention project -see Project Activity
Schedule. This project is partially funded on a reimbursement basis grant for $400,000
from the Florida Department of Environmental Protection. The new time line for this
project is to commence in December, 2007.
(4) The $205,706 positive variance in the Police Employee Pension Fund & the $496,772
positive variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
June 2007
AGENDA ITEM # 4A
JULY 23, 2007
Expenses
Annual YTD - 75% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $50,898 $38,174 $39,190 ($1,016) -2.66%
City Administration 2,250,891 1,688,168 1,586,968 101,200 5.99%
General Government 1,368,862 1,026,647 995,137 31,510 3.07%
Planning and Building 652,100 489,075 300,280 188,795 38.60%
Public Safety (1) 5,232,657 3,924,496 3,098,568 825,928 21.05%
Parks and Recreation (2) 1,896,612 1,422,460 906,720 515,740 36.26%
Public Works (3) 8,524,534 6,393,395 4,421,609 1,971,786 30.84%
Public Utilities (4) 7,602,680 5,702,010 5,098,235 603,775 10.59%
Pension -Police 424,133 318,100 245,907 72,193 22.70%
Pension -General 436,713 327,535 268,869 58,666 17.91
Total $28,440,080 $21,330,060 $16,961,483 $4,368,577
Annual YTD - 75% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (1) & (5)
Operating Expenses (1) & (3)
Capital Outlay (1),(2),(3) & (4)
Debt Service (6)
Transfers
Total
$8,524,940 $6,393,705 $5,840,163 $553,542 8.66%
9,945,987 7,459,491 6,185,586 1,273,905 17.08%
6,950,399 5,212,799 2,252,884 2,959,915 56.78%
1,675,695 1,256,771 1,675,555 (418,784) -33.32%
1,343,059 1,007,294 1,007,295 (1) 0.00%
$28,440,080 $21,330,060 $16,961,483 $4,368,577
Analysis of Major Variances
(1) The positive variance in the Public Safety departments is partially due to vacant
positions in the Police Patrol division and the Lifeguard expenses are seasonal (typically
June through September). Also, no monies have been expended on the Police Building
Design -see the Project Activity Schedule.
(2) The positive variance in the Parks S Recreation departments resulted from no monies
being expended on the purchase of the Buchman Trust property -see the Project
Activity Schedule.
(3) The positive variance in the Public Works departments resulted from only 8 of 12
monthly payments having been made on the solid waste contract as of the ninth month of
the fiscal year, the Sanitation Fund's budgeted expenses being increased $68,000 in
anticipation of an increase in expenses effective June 1, 2007 and not having begun
various projects -see the Project Activity Schedule.
(4) The positive variance in the Public Utilities funds resulted from not having begun
various projects -see the Project Activity Schedule.
(5) The positive variance in the Personal Services is related to 50% of the first payroll of
October, 2006 being expensed in the prior fiscal year and vacant positions that have not
been filled.
(6) The negative variance shown on the schedule in the Debt Service accounts resulted
from the annual payment of principal and semi-annual payment of interest on the Utility
Revenue Bonds in October, 2006 and the semi-annual payment of interest on the Utility
Revenue Bonds in April, 2007 as planned.
City of Atlantic Beach
FINANCIAL REPORT
June 2007
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
JULY 23, 2007
Project YTD YTD YTD
Project Name Number Budget Actual Balance
Status
Parks and Recreation:
Buchman Trust Property
Jordan Park Shelter
Playground Equipment-Donner Park
Shade for the Skate Park
Russell Park Light Replacements
Dune Crossover for 3rd Street
Public Safety
Police Building Renovations
Public Utilities:
Fence Replacement at Water Plant 1
Genset at Lift Station B
Clarifier Rehabilitation at WWTP 1
GG0701 $650,000 $0 $650,000
PR0701 10,000 0 10,000
PR0702 33,000 23,076 9,924
PR0703 20,000 19,519 481
PR0704 17,500 17,500 0
PR0705 20,000 19,642 358
Subtotal 750,500 79,737 670,763
PS0504 466,850 10,144 456,706
Subtotal 466,850 10,144 456,706
Fence Replacement at WWTP 1
Sludge Container Refurbishment
Beach Habitat Subdivision
Remodel SCADA Control Area
Roof Replacement at Lab/Office
Begonia Street Water & Sewer Extension
Collection System Inspection & Rehabilitation
TMDL Engineering WWTP 1
Pumpout at Digester - WWTP2
Subtotal
Public Works:
Hopkins Creek Retention
Mayport Road Medians
Five Points Intersection Improvement
Pathways
Sidewalks - Sailfish,Royal Palm & Frances
Storage Bins for Limerock
Repave Asphalt at Public Works Yard
Asphalt Stewart Street at West Main Street
Sidewalk & Curb Replacement
Pedestrian Path -Five Points to Selva Marina
New Sidewalks -Marsh Oaks
Ocean Boulevard Between 14th & 15th Street
Subtotal
Total
Status Key
B -Bid Awarded
C -Project Completed
D -Design Completed
PU0601 9,477 9,477 0
PU0604 29,007 24,999 4,008
PU0605 145,223 139,147 6,076
PU0606 3,133 3,133 0
PU0607 8,876 8,876 0
PU0608 110,554 110,553 1
PU0701 20,000 0 20,000
PU0702 17,695 17,695 0
PU0703 157,500 3,786 153,714
PU0704 307,900 6,293 301,607
PU0706 338,500 0 338,500
PU0707 4,904 0 4,904
1,152,769 323,959 828,810
PW0309 2,530,730 970,229 1,560,501
PW0401 400,000 0 400,000
PW0502 8,164 8,164 0
PW0606 80,855 72,984 7,871
PW0607 5,102 612 4,490
PW0701 27,500 1,073 26,427
PW0703 70,000 0 70,000
PW0704 10,000 0 10,000
PW0705 50,000 8,225 41,775
PW0706 120,000 63,218 56,782
PW0707 120,000 61,856 58,144
PW0708 350,000 36,451 313,549
3,772,351 1,222,812 2,549,539
$6,142,470 $1,636,652 $4,505,818
E -Design Phase
I -Project In-progress
R - Re-budget Next Fiscal Year
C
C
C
C
E
C
C
C
C
C
C
E
E
D
C
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AGENDA ITEM # 4A i
JULY 23, 2007
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