Item 4AAGENDA ITEM # 4A
City of Atlantic Beach JANUARY 2s,2oos
FINANCIAL REPORT
DECEMBER 2007
Cash Balances
Prior
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
Utility
Sanitation
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
11 /30/07
$5,507,036
9,713
211,829
269,051
1,311,531
64,878
103,040
27,298
55, 060
3,374,432
391,635
2,443,979
(6,143)
41,204
$13,804,543
Cash and Investments
Prior
Account
Bank of America -Depository
SBA
Banc of America Securities LLC
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
Total
11 /30/07
Current
12/31 /07
$7,466, 864
9,713
215,278
326,140
1,271,123
67,855
0
33,027
82, 594
3,563,747
399,018
2,450,204
(16,752)
55,954
$15,924,765
$6,893,221
Dollar
Change
$1,959,828
0
3,449
57,089
(40,408)
2,977
(103,040)
5,729
27, 534
189,315
7,383
6,225
(10,609)
14,750
$2,120,222
$9,031,544
Current
12/31 /07
Dollar
Change
Rate of
Return
$1,291,993
10,000
12,500,000
2,550
13.804.543
5,916,965
9,089,590
15,006,555
$3,419,694
1,445
12,501,076
2,550
15,924,765
5,899,183
9,059,987
14.959,170
$2,127,701
(8,555)
1, 076
0
2,120,222
(17,782)
(29,603)
(47, 385)
4.73
4.95
4.03
14.40 (1)
14.80 (1)
$28,811,098
$30,883,935 $2,072,837
(1) FYTD rate of return through 09/30/07
Clt of Atlantic Beach AGENDA ITEM#4A
Y JANUARY 28, 2008
FINANCIAL REPORT
DECEMBER 2007
Revenues
Fund / (Footnote) Annual
Estimate YTD - 25%
of Estimate YTD
Actual Dollar
Variance Percent
Variance
General (1) $11,336,598 $2,834,150 $4,984,207 $2,150,057 75.86%
Tree Replacement 0 0 0 0 100.00%
Convention Development Tax 90,500 22,625 12,363 (10,262) -45.36%
Local Option Gas Tax 537,196 134,299 139,764 5,465 4.07%
Better Jax 1/2 Ct Sales Tax 831,885 207,971 177,927 (30,044) -14.45%
Police Training, Forfeit, etc. 47,530 11,884 8,852 (3,032) -25.51
Grants 271,690 67,923 103,040 35,117 51.70%
Debt Service 70,966 17,742 17,510 (232) -1.31
Capital Projects 330,000 82,500 82,594 94 0.11
Utility (2) 9,585,150 2,396,287 1,685,470 (710,817) -29.66%
Sanitation 1,762,230 440,558 440,103 (455) -0.10%
Storm Water (3) 3,162,675 790,669 484,854 (305,815) -38.68%
Pension -Police (4) 745,841 186,460 61,848 (124,612) -66.83%
Pension -General (4) 1,244,005 311,001 164,540 146,461 -47.09%
Total $30,016,266 $7,504,069 $8,363,072 $859,003
Analysis of Major Variances
(1) The $2,150,057 positive variance in the General Fund resulted from having received
77% of the budgeted property taxes. Typically the majority of these taxes are received
from the City of Jacksonville in December & January.
(2) The $710,817 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
that are to be issued in fiscal year 2008 & a variance of $130,251 from decreased sales.
(3) The $305,815 negative variance in the Storm Water Fund resulted from not having
received the monies budgeted for the Hopkins Creek Project. This project was started in
December, 2007 but no revenues have been received.
(5) The $124,612 negative variance in the Police Employee Pension Fund & the $146,461
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
DECEMBER 2007
Expenses
AGENDA ITEM # 4A
JANUARY 28, 2008
Annual YTD - 25% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $47,760 $11,940 $11,827 $113 0.95%
City Administration 2,184,959 546,241 520,619 25,622 4.69%
General Government 1,258,362 314,592 290,840 23,752 7.55%
Planning and Building 503,305 125,826 90,611 35,215 27.99%
Public Safety (1) 5,492,461 1,373,117 838,436 534,681 38.94%
Parks and Recreation 354,137 88,535 92,133 (3,598) -4.06%
Public Works (2) 9,699,728 2,424,933 1,500,978 923,955 38.10%
Public Utilities 10,125,589 2,531,392 2,281,944 249,448 9.85%
Pension -Police 330,591 82,648 102,116 (19,468) -23.56%
Pension -General _ 371,843 92,961 116,086 (23,125) -24.88%
Total $30,368,735 $7,592,185 $5,845,590 $1,746,595
Annual YTD - 25% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (3) $8,474,591 $2,118,648 $1,765,523 $353,125 16.67%
Operating Expenses (1) & (2) 9,908,941 2,477,235 2,017,658 459,577 18.55%
Capital Outlay (1) & (2) 8,002,134 2,000,534 197,864 1,802,670 90.11%
Debt Service (4) 1,683,795 420,949 1,289,727 (868,778) -206.39%
Transfers 2,299,274 574,819 574,818 1 0.00%
Total $30,368,735 $7,592,185 $5,845,590 $1,746,595
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 not having begun various projects
funded from this source -see Project Activity Schedule.
(2) The positive variance in the Public Works departments resulted only 2 of 3 monthly
payments being made on the Waste Services of Florida, Inc. and First Vehicle contracts
and not having begun various projects funded from this source -see Project Activity
Schedule.
(3) The positive variance in the Personal Services is related to 57% of the first payroll of
October, 2007 being expensed in the prior fiscal year and vacant positions that have not
been filled.
(4) The negative variance in the Debt Service Category resulted from the October
payment of principal and interest on the Utility Revenue Bonds.
City of Atlantic Beach
FINANCIAL REPORT
DECEMBER 2007
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
JANUARY 28, 2008
Project YTD YTD YTD
Project Name Number Budget Actual Balance Status
Public Safety
Police Building Design PS0504 330,000 0 330,000
Police Building Remodelling PS0504 28,632 25,953 2,679
Subtotal 358,632 25,953 332,679
Public Utilities:
Shangri La Sewer Improvements PU0704 58,109 0 58,109
TMDL Engineering WWTP 1 PU0706 510,000 0 510,000
SCADA Improvements PU0801 30,000 0 30,000
Collection System Inspection & Rehabilitation PU0802 829,000 0 829,000
Hydroscreens PU0803 30,000 0 30,000
Taper Bottom of Equipment Tanks PU0804 22,593 0 22,593
Reclaimed Water Plant Construction PU0805 1,800,000 0 1,800,000
Fence City Property at Plant PU0806 6,000 0 6,000
Subtotal 3,285,702 0 3,285,702
Public Works:
Fence PM0801 8,000 0 8,000
Shelter at Donner Community Center PM0802 30,000 0 30,000
Lights at Veteran's Park PM0803 15,000 0 15,000
Buchman Trust Property PM0804 650,000 0 650,000
Hopkins Creek Retention PW0309 1,570,072 10,539 1,559,533
Mayport Road Medians PW0401 400,000 0 400,000
Storage Bins for Limerock PW0701 26,272 26,272 0
Sidewalk & Curb Replacement PW0705 2,819 0 2,819
Ocean Boulevard Between 14th & 15th Street PW0708 264,769 109,244 155,525
Royal Palms Valley Gutter PW0801 20,000 0 20,000
Pedestrian Paths Extensions PW0802 100,000 0 100,000
Sidewalk at George & Edgar Street PW0803 30,000 0 30,000
Sidewalk at Ardella &Mayport Road PW0804 25,000 0 25,000
Contingency for Sidewalks PW0805 10,690 0 10,690
Sidewalk & Curb Replacement PW0806 30,000 0 30,000
Ardella Road Drainage Project PW0807 75,000 0 75,000
Royal Palms Design PW0808 400,000 0 400,000
Subtotal 3,657,622 146,055 3,511,567
Total $7,301,956 $172,008 $7,129,948
Status Key
B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-progress
D -Design Completed R - Re-budget Next Fiscal Year
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AG EN DA IT EM # 4 A
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