Item 4ACity of Atlantic Beach FE RDp,Ry25 2008
FINANCIAL REPORT
JANUARY 2008
Cash Balances
Fund(s)
Prior Current
12/31 /O7 01 /31 /08
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
$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
$7,296,625
23, 519
217,972
341,760
1,236,829
70,085
0
38,850
110, 388
3,685,917
405,112
2,465,537
(30,688)
66,687
$15,928,593
$6,890,018
$9,038,575
Dollar
Change
($170,239)
13,806
2,694
15,620
(34,294)
2,230
0
5,823
27,794
122,170
6,094
15,333
(13,936)
10,733
$3,828
Cash and Investments
Account
Prior
12/31 /07
Current
1 /31 /08
Bank of America -Depository
SBA
Banc of America Securities LLC
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
$3,419,694
1,445
12,501,076
2, 550
15, 924, 765
5,899,183
9,059,987
14, 959,170
$3,383,502
1,445
12,541,096
2,550
15,928,593
5,771,412
8,853,709
14.625.121
Dollar Rate of
Change Return
($36,192) 4.02
0 4.62
40,020 3.31
0 -
3,828
(127,771) (0.20) (1)
(206,278) 0.10 (1)
(334,049)
Total $30,883,935 $30,553,714 ($330,221)
(1) FYTD rate of return through 12/31/07
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2008
Revenues
AGENDA ITEM # 4A
FEBRUARY 25, 2008
Annual I YTD - 33% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
General (1) $11,336,598
Tree Replacement 0
Convention Development Tax 90,500
Local Option Gas Tax 537,196
Better Jax 1/2 Ct Sales Tax 831,885
Police Training, Forfeit, etc. 47,530
Grants 271,690
Debt Service 70,966
Capital Projects 330,000
Utility (2) 9,585,150
Sanitation 1,762,230
Storm Water (3) 3,162,675
Pension -Police (4) 745,841
Pension -General (4) 1,244,005
Total $30,016,266
$3,775,087 $5,724,286 $1,949,199 51.63%
0 13, 806 13, 806 100.00%
30,137 15,057 (15,080) -50.04%
178,886 181,764 2,878 1.61
277,018 237,799 (39,219) -14.16%
15,829 12,726 (3,103) -19.60%
90,473 103, 040 12, 567 13.89%
23,632 23,333 (299) -1.27%
109, 890 110, 388 498 0.45%
3,191,855 2,251,086 (940,769) -29.47%
586,823 590,054 3,231 0.55%
1,053,171 650,128 (403,043) -38.27%
248,365 (42,433) (290,798) -117.08%
414,254 10,101 (404,153) -97.56%
$9,995,420 $9,881,135 ($114,285)
Analysis of Major Variances
(1) The $1,949,199 positive variance in the General Fund resulted from having received
82% of the budgeted property taxes. Typically the majority of these taxes are received
from the City of Jacksonville in December & January.
(2) The $940,769 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 $190,741 from decreased sales.
(3) The $403,043 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 $290,798 negative variance in the Police Employee Pension Fund & the $404,153
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2008
Expenses
AGENDA ITEM # 4A
FEBRUARY 25, 2008
Annual YTD - 33% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $47,760 $15,904 $15,317 $587 3
69%
City Administration 2,184,959 727,592 651,031 76,561 .
10
52%
General Government 1,258,362 419,035 367,576 51,459 .
12.28%
Planning and Building 503,305 167,601 125,301 42,300 25.24%
Public Safety (1) 5,492,461 1,828,990 1,348,063 480,927 26.29%
Parks and Recreation 354,137 117,928 120,928 (3,000) -2.54%
Public Works (2) 9,699,728 3,230,009 2,087,897 1,142,112 35.36%
Public Utilities (3) 10,125,589 3,371,820 2,750,044 621,776 18.44%
Pension -Police 330,591 110,087 139,538 (29,451) -26.75%
Pension -General 371,843 123,824 157 191 (33,367) -26.95%
Total $30,368,735 $10,112,790 $7,762,886 $2,349,904
Annual YTD - 33% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (4)
Operating Expenses (1) & (2)
Capital Outlay (1) & (2)
Debt Service (5)
Transfers
Total
X5,464,591 $2,818,709 $2,375,827 $442,882
9,918,941 3,303,008 2,932,606 370,402
8,002,134 2,664,711 398,301 2,266,410
1,683,795 560,704 1,289,727 (729,023)
2,299,274 765 658 766 425 (767)
$30,368,735 $10,112,790 $7,762,886 $2,349,904
15.71%
11.21%
85.05%
-130.02%
-0.10%
Analysis of Major Variances
(1) The positive variance in the Public Safety departments is partially due to vacant
positions in the Police Patrol division, no expenditures in the related grant funds and not
having begun various projects funded from this source -see the Project Activity
Schedule.
(2) The positive variance in the Public Works departments resulted only 3 of 4 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 the Project Activity
Schedule.
(3) The positive variance in the Public Utilities departments resulted from not having begun
various projects funded from this source -see the Project Activity Schedule.
(4) 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.
(5) 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 AGENDA ITEM # 4A
FEBRUARY 25, 2008
FINANCIAL REPORT
JANUARY 2008
Project Activity -Current Year Activity Only
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 22,593 0
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 22,593 3,263,109
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 605,000 0 605,000
Public Art Turtle Statue PM0805 45,000 0 45,000
Hopkins Creek Retention PW0309 1,570,072 24,345 1,545,727
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 264,769 205,425 59,344
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 3,657,622 256,042 3,401,580
Total $7,301,956 $304,588 $6,997,368
Status Kev
B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-progress
D -Design Completed R - Re-budget Next Fiscal Year
I
E
C
E
E
AGENDA ITEM # 4A
FEBRUARY 25, 2008
City of Atlantic Beach, FI .
Utility Sales Report
January 2008 January 2007
Water Sales
Accounts Gallons
0000 Actual
Revenue Revenue
Per 1,000 gi
Accounts Gallons
0000 Actual
Revenue Revenue
Per 1,000 gi
Atlantic Beach
Buccaneer 5,607
2,562 40,211
20,681 $113,193
$66,622 $2.81
$3.22 5,620
2,481 42,868
22,196 $106,951
$64,114 $2.49
$2.89
Total Water Sales 8,169 60,892 $179,816 $2.95 8,101 65,064 $171,065 $2.63
Gallons Gallons
Water Plant Production o000 0000
Atlantic Beach
Buccaneer
Total Production 50,601
17,824
68,425 46,443
27,661
74,104
Total Water Billed 60,892 65,064
Water Loss for month: 7,533 9,040
Percentage Loss 11.01% 12.20%
Total 12 mo. Avg. Loss 12.97% 11.17%
Sewer Sales
Accounts Gallons
0000 Actual
Revenue Revenue
Per 1,000 gt
Accounts Gallons
0000 Actual
Revenue Revenue
Per 1,00o gi
Atlantic Beach
Buccaneer 5,088
2,432 32,456
19,664 $172,102
$131,253 $5.30
$6.67 5,071
2,363 34,295
20,531 $157,450
$122,236 $4.59
$5.95
Total Sewer Sales 7,520 52,120 $303,355 $5.82 7,434 54,826 $279,686 $5.10
Sewer Treatment Gallons
0000 Actual
Revenue Revenue
Per 1,000 yi Gallons
0000 Actual
Revenue Revenue
Per 7,000 gi
Atlantic Beach
Buccaneer 43.754
21.114 $172,102
$131,253 $3.93
$6.22 47.004
22.643 $157,450
$122,236 $3.35
$5.40
Total Sewer Treated 64.868 $303,355 $4.68 69.647 $279,686 $4.02