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City of Atlantic Beach rAroVEMBER26,2007
FINANCIAL REPORT
OCTOBER 2007
Cash Balances
Fund(s)
General
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 1/2 Cent Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Capital Projects
utirty
Sanitation
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
Prior Current Dollar
09/30/07 10/31/07 Change
$5,140,749
9,713
237,915
290,649
1,414,879
59,003
0
78, 542
0
4,205,963
381,017
2,398,432
16, 842
19,289
$14,252,993
$4,484, 907
9,713
208,381
295,426
1,366,964
62,140
103,040
84,608
27, 560
3,268,372
397, 960
2,353,355
2,668
31,981
$12,697,075
$6,888,668
($655,842)
0
(29,534)
4,777
(47,915)
3,137
103,040
6,066
27,560
(937,591)
16,943
(45,077)
(14,174)
12,692
($1,555,918)
$5,808,407
Cash and Investments
Prior Current
Account 9/30/07 10/31 /07
Bank of America -Depository
SBA
Cash on Hand
Subtotal
$215,211
14,035,232
2,550
14,252,993
$434,611
12,259,914
2, 550
12,697,075
Police Pension Investments
General Pension Investments
Subtotal
Total
5,907,979
9,051,022
14, 959, 001
$29,211,994
6,024,256
9,249,176
15,273,432
Dollar Rate of
Change Return
$219,400 4.72
(1,775,318) 5.45
0 -
(1,555,918)
116,277
198,154
314,431
14.40 (1)
14.80 (1)
$27,970,507
($1,241,487)
(1) FYTD rate of return through 09/30/07
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2007
Revenues
AGENDA ITEM # 4A
NOVEMBER 26, 2007
Annual I YTD - 8% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
General (1) $11,336,598 $940,938 $645,153 ($295,785) -31.44%
Tree Replacement 0 0 0 0 100.00%
Convention Development Tax 90,500 7,512 5,465 (2,047) -27.25%
Local Option Gas Tax 537,196 44,587 56,289 11,702 26.25%
Better Jax 1/2 Ct Sales Tax 831,885 69,046 59,481 (9,565) -13.85%
Police Training, Forfeit, etc. 47,530 3,945 3,137 (808) -20.48%
Grants (2) 271,690 22,550 103,040 80,490 356.94%
Debt Service 70,966 5,890 6,067 177 3.01
Capital Projects 330,000 27,390 27,560 170 0.62%
Utility (3) 9,585,150 795,567 564,432 (231,135) -29.05%
Sanitation 1,762,230 146,265 151,313 5,048 3.45%
Storm Water (4) 3,162,675 262,502 168,155 (94,347) -35.94%
Pension -Police (5) 745,841 61,905 140,004 78,099 126.16%
Pension -General (5) 1,244,005 103,252 250,622 147,370 142.73%
Total $30,016,266 $2,491,349 $2,180,718 ($310,631
Analysis of Major Variances
(1) The $295,795 negative variance in the General Fund resulted from not having received
property taxes. Typically the majority of these taxes are received from the City of
Jacksonville in December & January.
(2) The $80,490 positive variance in the Grant Funds resulted from the reimbursement of
expenses from the prior fiscal year in October, 2007.
(3) The $231,135 negative variance in the Utility Funds resulted from not having received
the monies budgeted for the St. John's River Water Management District grant & bonds
to be issued in fiscal year 2008 in the Sewer Fund.
(4) The $94,347 negative variance in the Storm Water Fund resulted from not having
received the monies budgeted for the Hopkins Creek Project. This project is scheduled
to begin in December, 2007.
(5) The $78,099 positive variance in the Police Employee Pension Fund & the $147,370
positive variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2007
Expenses
AGENDA ITEM # 4A
NOVEMBER 26, 2007
Annual YTD - 8% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $47,760 $3,964 $4,347 ($383) -9.66%
City Administration 2,184,959 181,352 182,026 (674) -0.37%
General Government 1,258,362 104,444 93,435 11,009 10.54%
Planning and Building 503,305 41,774 27,036 14,738 35.28%
Public Safety (1) 5,492,461 455,875 238,427 217,448 47.70%
Parks and Recreation 354,137 29,394 19,544 9,850 33.51%
Public Works (2) 9,699,728 805,076 459,853 345,223 42.88%
Public Utilities (3) 10,125,589 840,424 1,356,854 (516,430) -61.45%
Pension -Police 330,591 27,439 35,776 (8,337) -30.38%
Pension -General 371,843 30,863 36,950 (6,087) -19.72%
Total $30,368,735 $2,520,605 $2,454,248 $66,357
Annual YTD - 8% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (4)
Operating Expenses (1) & (2)
Capital Outlay (1) & (2)
Debt Service (3)
Transfers
Total
$8,481,591 $703,972 $488,824 $215,148
9,917,756 823,174 618,699 204,475
7,986,319 662,864 7,575 655,289
1,683,795 139,755 1,147,542 (1,007,787)
2,299,274 190,840 191,608 (768)
$30,368,735 $2,520,605 $2,454,248 $66,357
30.56%
24.84%
98.86%
-721.11%
-0.40%
Analysis of Major Variances
(1) 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. The next
payment is due in January 2008 for October through December 2007. Also, there are
vacant positions in the Police Patrol division and the Police Building project has not
begun -see Project Activity Schedule.
(2) The positive variance in the Public Works departments resulted from the Waste
Services of Florida, Inc. and First Vehicle contracts not having been paid in October 2007
and not having begun various projects funded from this source -see Project Activity
Schedule.
(3) The negative variance in the Public Utilities department resulted from the October
payment of principal and interest on the Utility Revenue Bonds.
(4) The positive variance in the Personal Services is typical for the first month of the new
fiscal year due to the payroll expense only including three weeks of the month of
October. The last week and '/ of October will not be paid until November. This explains
why approximately 31 % of October's budgeted payroll has not been expensed.
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2007
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
NOVEMBER 26, 2007
Project YTD YTD YTD
Project Name Number Budget Actual Balance Status
Public Safety
Police Building Design
Police Building Remodelling
Subtotal
Public Utilities:
Shangri La Sewer Improvements
TMDL Engineering WWTP 1
SCADA Improvements
Collection System Inspection & Rehabilitation
Hydroscreens
Taper Bottom of Equipment Tanks
Reclaimed Water Plant Construction
Fence City Property at Plant
Subtotal
Public Works:
Fence
Shelter at Donner Community Center
Lights at Veteran's Park
Buchman Trust Property
Hopkins Creek Retention
Mayport Road Medians
Storage Bins for Limerock
Sidewalk & Curb Replacement
Ocean Boulevard Between 14th & 15th Street
Royal Palms Valley Gutter
Pedestrian Paths Extensions
Sidewalk at George & Edgar Street
Sidewalk at Ardella &Mayport Road
Contingency for Sidewalks
Sidewalk & Curb Replacement
Ardella Road Drainage Project
Royal Palms Design
Subtotal
Total
Status Kev
B -Bid Awarded
C -Project Completed
D -Design Completed
PS0504 330,000 0 330,000
PS0504 28,632 0 28,632
358,632 0 358,632
PU0704 58,109 0 58,109
PU0706 510,000 0 510,000
PU0801 30,000 0 30,000
PU0802 829,000 0 829,000
PU0803 30,000 0 30,000
PU0804 20,000 0 20,000
PU0805 1,800,000 0 1,800,000
PU0806 6,000 0 6,000
3,283,109 0 3,283,109
PM0801 8,000 0 8,000
PM0802 30,000 0 30,000
PM0803 15,000 0 15,000
PM0804 650,000 0 650,000
PW0309 1,570,072 0 1,570,072
PW0401 400,000 0 400,000
PW0701 26,272 0 26,272
PW0705 2,819 0 2,819
PW0708 258,594 0 258,594
PW0801 20,000 0 20,000
PW0802 100,000 0 100,000
PW0803 30,000 0 30,000
PW0804 25,000 0 25,000
PW0805 10,690 0 10,690
PW0806 30,000 0 30,000
PW0807 75,000 0 75,000
PW0808 400,000 0 400,000
3,651,447 0 3,651,447
$7,293,188 $0 $7,293,188
E -Design Phase
I -Project In-progress
R - Re-budget Next Fiscal Year