Item 4AAGENDA ITEM # 4A
City of Atlantic Beach AuGUSTZ~,2oo~
FINANCIAL REPORT
July 2007
Cash Balances
Fund
Prior Current Dollar
06/30/07 07/31/07 Change
General $5,955,761
Tree Replacement 9,713
Convention Development Tax 209,783
Local Option Gas Tax 224,500
Better Jax 1 /2 Cent Sales Tax 1,325,186
Police Training, Forfeit, etc. 18,439
Grants 84,137
Debt Service 59,970
Utility 3,875,504
Sanitation 381,002
Storm Water 2,232,709
Pension -Police 19,024
Pension -General 20,252
Total $14,415,980
Total Restricted Cash
Total Unrestricted Cash
$6,777,694
$8,161,466
Cash and Investments
Prior Current Dollar Rate of
Account 06/30/07 07/31/07 Change Return
$5,963,745
9,713
210,689
248,414
1,366,859
53,772
109, 831
66,129
4,089,004
459,027
2,315,395
11, 068
35,514
$14,939,160
$7, 984
$0
$906
$23,914
$41,673
$35,333
$25,694
$6,159
$213, 500
$78,025
$82,686
($7,956)
$15,262
$523,180
Bank of America -Depository $374,321 $833,126 $458,806
SBA 14,039,109 14,103,484 84,375
Cash on Hand 2,550 2,550 0
Subtotal 14,415,980 14,939,160 523,180
Police Pension Investments 5,620,833 5,566,389 (54,444)
General Pension Investments 8,675,058 8,601,654 (73,404)
Subtotal 14,295,891 14,168,043 (127,848)
Total $28,711,871 $29,107,203 $395,332
4.64 (1)
5.39 (1)
10.50 (2)
10.70 (2)
(1) Monthly rate of return annualized
(2) FYTD rate of return through 06/30/07
City of Atlantic Beach
FINANCIAL REPORT
July 2007
Revenues
AGENDA ITEM # 4A
AUGUST 27, 2007
Annual YTD - 83% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
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)
Total
$10,786,532 $8,985,181 $9,548,521 $563,340 6.27%
0 0 0 0 0.00%
81,000 67,473 55,487 (11,986) -17.76%
563,042 469,014 451,773 (17,241) -3.68%
761,298 634,161 660,876 26,715 4.21
31,250 26,031 49,942 23,911 91.86%
225,039 187,457 243,586 56,129 29.94%
73, 048 60, 849 61, 345 496 0.82%
6,750,002 5,622,752 5,529,962 (92,790) -1.65%
1,558,200 1,297,981 1,190,429 (107,552) -8.29%
1,862,500 1,551,463 1,263,295 (288,168) -18.57%
765,862 637,963 752,377 114,414 17.93%
1,096,364 913,271 1,299,272 386,001 42.27%
$24,554,137 $20,453,596 $21,106,865 $653,269
Analysis of Major Variances
(1) The $563,340 positive variance in the General Fund resulted from having received 99%
of the budgeted property taxes in December, 2006 through July, 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 $107,552 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 $288,168 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 $114,414 positive variance in the Police Employee Pension Fund & the $386,001
positive variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
July 2007
Expenses
AGENDA ITEM # 4A
AUGUST 27, 2007
Annual YTD - 83% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $50,898
$42,398 $43,975
($1,577)
-3.72%
City Administration 2,250,891 1,874,991 1,740,860 134,131 7.15%
General Government 1,368,862 1,140,262 1,095,268 44,994 3.95%
Planning and Building 660,689 550,354 330,605 219,749 39.93%
Public Safety (1) 5,232,657 4,358,801 3,616,281 742,520 17.03%
Parks and Recreation (2) 1,896,612 1,579,879 986,329 593,550 37.57%
Public Works (3) 8,549,534 7,121,762 4,777,963 2,343,799 32.91%
Public Utilities (4) 7,602,680 6,333,032 5,515,916 817,116 12.90%
Pension -Police 424,133 353,303 273,813 79,490 22.50%
Pension -General 436,713 363,782 302,092 61 690 16.96%
Total $28,473,669 $23,718,564 $18,683,102 $5,035,462
Annual YTD - 83% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (1) & (5) $8,521,940 $7,098,777 $6,494,199 $604,578 8.52%
Operating Expenses (1) & (3) 9,981,986 8,314,991 7,133,549 1,181,442 14.21
Capital Outlay (1),(2),(3) & (4) 6,950,989 5,790,174 2,260,583 3,529,591 60.96%
Debt Service (6) 1,675,695 1,395,854 1,675,555 (279,701) -20.04%
Transfers 1,343,059 1,118 768 1 119 216 (448) -0.04%
Total $28,473,669 $23,718,564 $18,683,102 $5,035,462
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 contract with the City of Jacksonville for fire
services being due quarterly. Three of the four payments have been made fiscal year to
date. Also, only 2% of the budget has been expended on the Police Building Design -
see the Project Activity Schedule.
(2) The positive variance in the Parks ~ 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 9 of 12
monthly payments having been made on the solid waste contract as of the tenth 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
July 2007
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
AUGUST 27, 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
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 9,452 457,398
Subtotal 466,850 9,452 457,398
Public Utilities:
Fence Replacement at Water Plant 1
Genset at Lift Station B
Clarifier Rehabilitation at WWTP 1
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
Tota I
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 158,090 3,786 154,304
PU0704 307,900 6,293 301,607
PU0706 338,500 0 338,500
PU0707 4,904 0 4,904
1,153,359 323,959 829,400
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 38,198 311,802
3,772,351 1,224,559 2,547,792
$6,143,060 $1,637,707 $4,505,353
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
C
C
C
E
C
C
C
C
C
C
E
I
E
D
C
C
I
I
AGENDA ITEM # 4A
AUGUST 27, 2007
City of Atlantic Beach, FI.
Util ity Sales Report
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J u I 2007
y July
2006
~ . ,
Gallons Actual Revenue a Gallons Actual Revenue
Water S81es a Accounts 0000 Revenue Per 1,000 gI ,Accounts 0000 Revenue Per 1,000 g~
j Atlantic Beach ~ 5,618 48,722 $122,981 $2.52 ~ 5,585 51,777 $131,764 $2.54
Buccaneer 2,455 23,820 $73,037 $3.07 ~ 2,583 25,781 $66,980 $2.60
' Total Water Sales 8,073 72,542 $196,018 $2.70 "~± 8,168 77,558 $198,744 $2.56
~ ~
~~
? Gallons Gallons '"`
Water Plant Production ;; 0000 0000
Atlantic Beach 62,067 70,280
Buccaneer 21,836 24,405
Total Production 83,903 94,685
Total Water Billed 72,542 77,558
Water Loss for month: 11,361 17,127
Percentage Loss 13.54% 18.09%
Total 12 mo. Avg. Loss 11.57% 10.98%
Gallons Actual Revenue Gallons Actual Revenue ''
Sealer S81eS Accounts 0000 Revenue Per 1,000 gi ' Accounts 0000 Revenue Per 1,000 gi
Atlantic Beach 5,099 37,495 $170,547 $4.55.' 5,070 37,857 $168,695 $4.46x:
Buccaneer °2,330 21,393 $125,697 $5.88'_ 2,470 24,170 $131,676 $5.45,
Total Sewer Sales 7,429 58,888 $296,244 $5.03 , 7,540 62,027 $300,371 $4.84'?;'
Gallons Actual Revenue " Gallons Actual Revenue "
Sewer Treatment 0000 Revenue Per 1,000 gi ; 0000 Revenue Per 1,000 gi `;:
Atlantic Beach 55.562 $170,547 $3.07 i 48.998 $168,695 $3.44
Buccaneer 22.800 $125,697 $5.51', 27.962 $131,676 $4.71:;
Total Sewer Treated 78.362 $296,244 $3.78 , 76.960 $300,371 $3.90 '"
