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Item 4A'' City of Atlantic Beach AGENDA ITEM#4A 7 MARCH 26, 200 FINANCIAL REPORT ~+ FEBRUARY 2007 Cash Balances Prior Current Dollar Fund 01/31/07 02!28/07 Change .~ General $7,005,155 $6,721,771 ($283,384) ;~ Tree Replacement 20,913 20,913 $0 Convention Development Tax 177,110 183,775 $6,665 Local Option Gas Tax 325,594 351,612 $26,018 Better Jax 1/2 Cent Sales Tax 1,231,325 1,292,624 $61,299 Police Training, Forfeit, etc. 9,717 5,514 ($4,203) Grants 62,867 93,867 $31,000 ~'"' Debt Service 38,471 44,520 $6,049 Utility 3,603,647 3,685,018 $81,371 Sanitation 489,657 490,428 $771 Storm Water 2,024,825 2,105,531 $80,706 Pension -Police (5,769) 31,154 $36,923 Pension -General 79,773 19,961 ($59,812) ~ Total $15,063,285 $15,046,688 ($16,597) Total Restricted Cash $6,812,422 Total Unrestricted Cash $8,234,266 Cash and Investments Prior Current Dollar Rate of Account 1/31/07 2/28/07 Change Return Bank of America -Depository $409,646 $277,489 ($132,157) 4.35 SBA 14,651,089 14,766,649 115,560 5.38 ~" Cash on Hand 2,550 2,550 0 - Subtotal 15,063,285 15,046,688 (16,597) Police Pension Investments 5,434,203 5,387,067 (47,136) 4.60 (1) General Pension Investments 8,126,237 8,206,489 80,252 4.70 (1) Subtotal 13,560,440 13,593,556 33,116 Total $28,623,725 $28,640,244 $16,519 (1) FYTD rate of return through 12/31/06 ~. """ City of Atlantic Beach AMARCHI26,~2007A FINANCIAL REPORT FEBRUARY 2007 Revenues ~. Fund / (Footnote) ~. Annual Estimate YTD - 42% of Estimate YTD Actual Dollar Variance Percent Variance General (1) $10,576,532 $4,410,414 $6,271,581 $1,861,167 42.20% ~, Tree Replacement 0 0 0 0 100.00% Convention Development Tax 81,000 33,777 28,573 (5,204) -15.41 Local Option Gas Tax 563,042 234,789 232,329 (2,460) -1.05% ~„ Better Jax 1/2 Ct Sales Tax 761,298 317,461 340,420 22,959 7.23% Police Training, Forfeit, etc. 31,250 13,031 20,901 7,870 60.39% Grants 209,234 87,251 167,361 80,110 91.82% Debt Service 73,048 30,461 30,688 227 0.75% Utility (2) 6,770,002 2,814,751 2,686,432 (128,319) -4.56% Sanitation 1,462,200 609,737 551,769 (57,968) -9.51 Storm Water (3) 1,862,500 776,663 630,629 (146,034) -18.80% Pension -Police (4) 765,862 319,364 413,352 93,988 29.43% Pension -General (4) 1,096,364 457,184 693,640 236,456 51.72% Total $24,252,332 $10,104,883 $12,067,675 $1,962,792 Analysis of Major Variances (1) The $1,861,167 positive variance in the General Fund resulted from having received 86% of the budgeted property taxes in December, 2006, January, 2007 & February, 2007. Typically the majority of these taxes are received from the,City of Jacksonville in December & January. Also, ,: the 4~h quarter of 2006 reimbursement for Beach Maintenance & Lifeguards was received from the City of Jacksonville in October, 2006. (2) The $128,319 negative variance in the Utility Funds resulted from the lower sales volume of water & sewer. (3) The $146,034 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 $93,988 positive variance in the Police Employee Pension Fund & the $236,456 positive variance in the General Employee Pension Fund resulted from changes in market values of the investments. ~" City of Atlantic Beach AGENDA ITEM # 4A MARCH 26, 2007 FINANCIAL REPORT FEBRUARY 2007 ,. Expenses Annual YTD - 42% YTD Dollar Percent Department / (Footnote) Estimate of Estimate Actual Variance Variance ~"" Governing Body $50,898 $21,224 $22,559 ($1,335) -6.29% City Administration 2,253,291 939,622 875,898 63,724 6.78% General Government (1) 3,037,978 1,266,837 644,453 622,384 49.13% Planning and Building 652,227 271,979 151,258 120,721 44.39% Public Safety (2) 4,759,060 1,984,528 1,589,032 395,496 19.93% Parks and Recreation 1,185,330 494,283 510,542 (16,259) -3.29% Public Works (3) 7,723,057 3,220,517 2,692,627 527,890 16.39% ~"" Public Utilities 7,650,855 3,190,406 3,091,900 98,506 3.09% Pension -Police 424,133 176,863 180,841 (3,978) -2.25% Pension -General 436,713 182,109 176,181 5 928 3.26% ~"'' Total $28,173,542 $11,748,368 $9,935,291 $1,813,077 Annual YTD - 42% YTD Dollar Percent Resource Allocation Estimate of Estimate Actual Variance Variance Personal Services (2) & (5) $8,570,079 $3,573,723 $2,996,363 $577,360 16.16% Operating Expenses (2) & (3) 9,711,304 4,049,614 3,521,643 527,971 13.04% Capital Outlay (1) & (3) 6,873,405 2,866,210 1,586,047 1,280,163 44.66% Debt Service (4) 1,675,695 698,765 1,271,630 (572,865) -81.98% Transfers 1,343,059 560,056 559,608 448 0.08% Total $28,173,542 $11,748,368 $9,935,291 $1,813,077 Analysis of Major Variances (1) The positive variance in the General Government departments resulted from not having begun the Buchman Trust Property project or the Police Building Renovations -see the Project Activity Schedule. (2) The positive variance in the Public Safety departments is partially due to the payment being due quarterly to the City of Jacksonville for fire & rescue services. A payment was made in January 2007 for October through December 2006. Also, there are vacant positions in the Police Patrol division and the Lifeguard expenses are seasonal (typically June through September). (3) The positive variance in the Public Works departments resulted from only 4 of 5 payments having been made on the solid waste contract, not purchasing the budgeted trash truck as of February 28, 2007 and not having begun various projects -see the Project Activity Schedule. (4) The negative variance 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. (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. °'~ ~ ~ City of Atlantic Beach FINANCIAL REPORT ,~„ FEBRUARY 2007 Project Activity -Current Year Activity Only AGENDA ITEM # 4A MARCH 26, 2007 Project YTD YTD YTD Project Name Number Budget Actual Balance Status ~" General Government: Buchman Trust Property GG0701 $450,000 $0 $450,000 Subtotal 450,000 0 450,000 Parks and Recreation: Jordan Park Shelter PR0701 10,000 0 10,000 Playground Equipment-Donner Park PR0702 33,000 23,076 9,924 ,,,~ Shade for the Skate Park PR0703 20,000 8,316 11,684 Russell Park Light Replacements PR0704 17,500 0 17,500 Dune Crossover for 3rd Street PR0705 20,000 0 20,000 Subtotal 100,500 31,392 69,108 Public Safety Police Building Renovations PS0504 466,850 0 466,850 ~'" Subtotal 466,850 0 466,850 Public Utilities: ~. Fence Replacement at Water Plant 1 PU0601 12,049 9,477 2,572 Genset at Lift Station B PU0604 29,007 0 29,007 Clarifier Rehabilitation at WWTP 1 PU0605 145,223 89,840 55,383 Fence Replacement at WWTP 1 PU0606 3,984 3,134 850 Sludge Container Refurbishment PU0607 8,900 8,876 24 Beach Habitat Subdivision PU0608 151,179 110,553 40,626 Remodel SCADA Control Area PU0701 20,000 0 20,000 ~'" Roof Replacement at Lab/Office PU0702 17,695 17,695 0 Begonia Street Water & Sewer Extension PU0703 100,000 3,260 96,740 Collection System Inspection & Rehabilitation PU0704 365,400 0 365,400 rw Replace 2 Hydroscreens PU0705 30,000 0 30,000 TMDL Engineering WWTP 1 PU0706 338,500 0 338,500 Subtotal 1,221,937 242,835 979,102 Public Works: Hopkins Creek Retention PW0309 2,530,730 906,914 1,623,816 Mayport Road Medians PW0401 400,000 0 400,000 "' Five Points Intersection Improvement PW0502 8,164 8,164 0 Pathways PW0606 81,500 67,781 13,719 Sidewalks - Sailfish,Royal Palm & Frances PW0607 5,102 0 5,102 Storage Bins for Limerock PW0701 30,000 0 30,000 Mandalay Park Improvements PW0702 50,000 0 50,000 Repave Asphalt at Public Works Yard PW0703 70,000 0 70,000 ~„ Asphalt Stewart Street at West Main Street PW0704 10,000 0 10,000 Sidewalk & Curb Replacement PW0705 50,000 6,400 43,600 Pedestrian Path -Five Points to Selva Marina PW0706 120,000 0 120,000 New Sidewalks -Marsh Oaks PW0707 120,000 0 120,000 ~" Ocean Boulevard Between 14th & 15th Street PW0708 350,000 11,310 338,690 Subtotal 3,825,496 1,000,569 2,824,927 Total $6,064,783 $1,274,796 $4,789,987 Status Key B -Bid Awarded E -Design Phase ~"" C -Project Completed I -Project In-progress D -Design Completed R - Re-budget Next Fiscal Year C I E C I I C C I C E E D C I I AGENDA ITEM # 4A MARCH 26, 2007 City of Atlantic Beach, FI. Water and Sewer Utility Sales Report February 2007 February 2006 . ,~,;, ~ _ s.~~ ,. r Gallons Actual Revenue Gallons Actual Revenue Water Sales Accounts 0000 Revenue Per 1,000 gi ; Accounts 0000 Revenue Per 1,000 g~ , Atlantic Beach ~ 5,608 40,583 $101,329 $2.50 ~ 5,555 41,184 $96,765 $2.35 Buccaneer 2,442 22,249 $64,794 $2.91: 2,676 26,139 $69,361 $2.65 Total Water Sales 8,050. 62,832 $166,124 S2.64 ; 8,231 67,323 $166,126 $2.47 Gallons Gallons Water Plant Production 0000 0000 Atlantic Beach 50,512 45,175 Buccaneer 19,073 19, 381 Total Production 69,585 64,556 Total Water Billed 62,832 67,323 Water Loss for month: 6,753 -2,767 Percentage Loss 9.70% -4.28% Total 12 mo. Avg. Loss 12.05°~ 9.17% Gallons Actual Revenue Gallons Actual Revenue Sewer Sales Accounts 0000 Revenue Per 1,000 gt Accounts 0000 Revenue Per 1,000 gi . Atlantic Beach 5,058 33,231 $156,394 $4.71 5,029 ,34,537 $156,787 $4.54: Buccaneer 2,322 21,002 $124,531 $5.93 2,558 25,298 $137,594 $5.44 Total Sewer Sales 7,380 54,_233 $280,926 $5.18 7,587 59,835 $294,381 $4.92' Sewer Treatment Gallons 0000 Actual Revenue Revenue Per 1,000 gi Gallons 0000 Actual Revenue Revenue Per 1,000 gi _ Atlantic Beach Buccaneer 45.361 19.928 $156,394 $124,531 $3.45 $6.25': 43.142 19.223 $156,787 $137,594 $3.63 $7.16. Total Sewer Treated 65.289 $280,926 $4.30 62.365 $294,381 $4.721