Item 4AAGENDA ITEM # 4A
City of Atlantic Beach SEPTEMBER 24, 2007
FINANCIAL REPORT
August 2007
Cash Balances
Fund
Prior Current
07/31 /07 08/31 /07
General
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 1/2 Cent Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Utility
Sanitation
Storm Water
Pension -Police
Pension -General
$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
$5,463,506
9,713
231,792
266, 960
1,390,744
57, 337
40,420
72,315
4,158,036
372,706
2,348,284
110,759
58,185
$14,580,757
Total $14,939,160
Total Restricted Cash
Total Unrestricted Cash
$6,785,000
$7,795,757
Dollar
Change
($500,239)
$0
$21,103
$18,546
$23, 885
$3,565
($69,411)
$6,186
$69,032
($86, 321)
$32,889
$99,691
$22,671
($358,403)
Cash and Investments
Account
Prior Current
07/31/07 08/31/07
Dollar Rate of
Change Return
Bank of America -Depository
SBA
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
$833,126
14,103,484
2,550
14,939,160
$409,804
14,168,403
2,550
14,580,757
5,566,389
8,601,654
14,168,043
5,633,063
8,695,033
14,328,096
($423, 322)
64,919
0
4.71 % (1)
5.39% (1)
(358,403)
66,674
93,379
160.053
10.50 (2)
10.70 (2)
Total $29,107,203 $28,908,853 ($198,350)
(1) Monthly rate of return annualized
(2) FYTD rate of return through 06/30/07
City of Atlantic Beach
FINANCIAL REPORT
August 2007
Revenues
AGENDA ITEM # 4A
SEPTEMBER 24, 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
Storm Water (2)
Pension -Police (3)
Pension -General (3)
Total
$10,786,532 $9,891,250 $10,138,429 $247,179 2.50%
0 0 0 0 0.00%
81,000 74,277 76,591 2,314 3.12%
563,042 516,310 495,526 (20,784) -4.03%
761,298 698,110 730,258 32,148 4.61
31,250 28,656 53,634 24,978 87.16%
225,039 206,360 243,586 37,226 18.04%
73,048 66,985 67,532 547 0.82%
6,750,002 6,189,751 6,075,184 (114,567) -1.85%
1,558,200 1,428,869 1,335,407 (93,462) -6.54%
1,862,500 1,707,913 1,390,744 (317,169) -18.57%
765,862 702,295 955,492 253,197 36.05%
1,096,364 1,005,366 1,452,960 447,594 44.52%
$24,554,137 $22,516,142 $23,015,343 $499,201
Analysis of Major Variances
(1) The $247,179 positive variance in the General Fund resulted from having received 99%
of the budgeted property taxes in December, 2006 through August, 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 $317,169 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.
(3) The $253,197 positive variance in the Police Employee Pension Fund & the $447,594
positive variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
August 2007
Expenses
AGENDA ITEM # 4A
SEPTEMBER 24, 2007
Annual YTD - 83% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $50,898 $46,673 $47,540 ($867) -1.86%
City Administration 2,250,891 2,064,068 1,954,468 109,600 5.31
General Government 1,368,862 1,255,246 1,199,266 55,980 4.46%
Planning and Building 660,689 605,851 472,734 133,117 21.97%
Public Safety (1) 5,232,657 4,798,347 4,012,834 785,513 16.37%
Parks and Recreation (2) 1,896,612 1,739,194 1,083,780 655,414 37.68%
Public Works (3) 8,549,534 7,839,922 5,253,201 2,586,721 32.99%
Public Utilities (4) 7,602,680 6,971,657 5,983,456 988,201 14.17%
Pension -Police 424,133 388,930 299,545 89,385 22.98%
Pension -General 436,713 400,466 330,336 70,130 17.51
Total $28,473,669 $26,110,354 $20,637,160 $5,473,194
Annual YTD - 83% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (1) & (5) $8,513,940 $7,807,283 $7,390,573 $416,710 5.34%
Operating Expenses (1) & (3) 9,981,561 9,153,091 7,841,519 1,311,572 14.33%
Capital Outlay (1),(2),(3) & (4) 6,959,414 6,381,783 2,498,375 3,883,408 60.85%
Debt Service 1,675,695 1,536,612 1,675,555 (138,943) -9.04%
Transfers 1,343,059 1,231,585 1,231,138 447 0.04%
Total $28,473,669 $26,110,354 $20,637,160 $5,473,194
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 4% of the budget has been expended on the Police Building Design -
see the Project Activity Schedule.
(2) The positive variance in the Parks 8 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 10 of 12
monthly payments having been made on the solid waste contract as of the eleventh
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 slow progress in billing
on 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.
City of Atlantic Beach
FINANCIAL REPORT
August 2007
AGENDA ITEM # 4A
SEPTEMBER 24, 2007
Project Activity -Current Year Activity Only
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
Fence Replacement at WWTP 1
Sludge Container Refurbishment
Beach Habitat Subdivision
Remodel SCADA Control Area
Roof Replacement at Lab/Office
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 18,103 448,747
Subtotal 466,850 18,103 448,747
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 20,000 500 19,500
PU0702 17,695 17,695 0
PU0703 161,227 153,143 8,084
PU0704 307,900 6,293 301,607
PU0706 338,500 0 338,500
PU0707 4,904 4,904 0
1,156,496 478,720 677,776
PW0309 2,530,730 977,076 1,553,654
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 6,863 0 6,863
PW0705 50,000 11,877 38,123
PW0706 120,000 76,804 43,196
PW0707 120,000 76,876 43,124
PW0708 350,000 39,194 310,806
3,769,214 1,264,660 2,504,554
$6,143,060 $1,841,220 $4,301,840
Status Kev
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
I
I
C
E
D
C
C
