Item 4A A GEN DA IT EM # 4 A
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AGENDA ITEM # 4A
City of Atlantic Beach MARCH 24, 2008
FINANCIAL REPORT
FEBRUARY 2008
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
Utility
Sanitation
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
Prior Current Dollar
01/31/08 02/29/08 Change
$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
$7,275,420
23, 519
220, 358
350,273
1,216,421
73,528
6,293
44,668
138,197
3,758,298
410,273
2,305,566
48,128
40,411
$15,911,353
$6,942,558
($21,205)
0
2, 386
8,513
(20,408)
3,443
6,293
5,818
27,809
72,381
5,161
(159,971)
78,816
(26,276)
($17,240)
$8,968,795
Cash and Investments
Account
Bank of America -Depository
SBA
Banc of America Securities LLC
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
Total
Prior Current
1 /31 /08 2/29/08
$3,383,502
1,445
12,541,096
2,550
15,928,593
5,771,412
8,853,709
14,625,121
$30,553,714
$3,331,742
1,446
12,575,615
2, 550
15,911,353
Dollar
Change
($51,760)
1
34,519
0
(17,240)
Rate of
Return
3.04
3.68
2.45
5,630,798
8,830,054
14,460,852
$30,372,205
(140,614)
(23,655)
(164,269)
($181,509)
(0.20) (1)
0.10 (1)
(1) FYTD rate of return through 12/31/07
AGENDA ITEM # 4A
City of Atlantic Beach MARCH 24, Zoos
FINANCIAL REPORT
FEBRUARY 2008
Revenues
Fund / (Footnote) Annual
Estimate YTD - 42%
of Estimate YTD
Actual Dollar
Variance Percent
Variance
General (1) $11,336,598 $4,727,361 $6,540,967 $1,813,606 38.36%
Tree Replacement 0 0 13,806 13,806 100.00%
Convention Development Tax 90,500 37,739 17,442 (20,297) -53.78%
Local Option Gas Tax 537,196 224,011 217,033 (6,978) -3.12%
Better Jax 1/2 Ct Sales Tax 831,885 346,896 313,337 (33,559) -9.67%
Police Training, Forfeit, etc. 47,530 19,820 16,168 (3,652) -18.43%
Grants 271,690 113,295 109,333 (3,962) -3.50%
Debt Service 70,966 29,593 29,151 (442) -1.49%
Capital Projects 330,000 137,610 138,197 587 0.43%
Utility (2) 9,585,150 3,997,007 2,777,801 (1,219,206) -30.50%
Sanitation 1,762,230 734,850 741,224 6,374 0.87%
Storm Water (3) 3,162,675 1,318,835 813,935 (504,900) -38.28%
Pension -Police (4) 745,841 311,016 (71,819) (382,835) -123.09%
Pension -General (4) 1,244,005 518,750 4,690 523,440 -100.90%
Total $30,016,266 $12,516,783 $11,651,885 ($864,898)
Analysis of Major Variances
(1) The $1,813,606 positive variance in the General Fund resulted from having received
87% of the budgeted property taxes. Typically the majority of these taxes are received
from the City of Jacksonville in December & January.
(2) The $1,219,206 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 $258,888 from decreased sales.
(3) The $504,900 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 $382,835 negative variance in the Police Employee Pension Fund & the $523,440
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
FEBRUARY 2008
Expenses
AGENDA ITEM # 4A
MARCH 24, 2008
Annual YTD - 42% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $47,760 $19,916 $18,608 $1,308 6.57%
City Administration 2,184,959 911,128 844,325 66,803 7.33%
General Government 1,268,362 528,907 449,600 79,307 14.99%
Planning and Building 503,305 209,879 179,301 30,578 14.57%
Public Safety (1) 5,492,461 2,290,356 1,772,757 517,599 22.60%
Parks and Recreation 354,137 147,675 149,955 (2,280) -1.54%
Public Works (2) 9,699,728 4,044,786 2,936,335 1,108,451 27.40%
Public Utilities (3) 10,125,589 4,222,370 3,199,623 1,022,747 24.22%
Pension -Police (4) 330,591 137,856 172,001 (34,145) -24.77%
Pension -General (4) 371,843 155,059 192,518 (37,459) -24.16%
Total $30,378,735 $12,667,932 $9,915,023 $2,752,909
Annual YTD - 42% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (5) $8,455,591 $3,525,981 $3,242,897 $283,084 8.03%
Operating Expenses (1) & (2) 9,937,941 4,144,121 3,580,693 563,428 13.60%
Capital Outlay (1) & (2) 8,002,134 3,336,890 843,676 2,493,214 74.72%
Debt Service (6) 1,683,795 702,143 1,289,727 (587,584) -83.68%
Transfers 2,299,274 958,797 958,030 767 0.08%
Total $30,378,735 $12,667,932 $9,915,023 $2,752,909
Analysis of Major Variances
(1) The positive variance in the Public Safety departments resulted from only 1 of 4
quarterly payments being made on the City of Jacksonville fire services contract, 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 from only 4 of 5 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 negative variances in the Police 8 General Pension funds resulted from expensing
the distributions of the DROP plan that were not budgeted.
(5) 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.
(6) 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
FEBRUARY 2008
AGENDA [TEM # 4A
MARCH 24, 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 27,733 899
Subtotal 358,632 27,733 330,899
Public Utilities:
Shangri La Sewer Improvements PU0704 58,109 17,966 40,143
TMDL Engineering WWTP 1 PU0706 510,000 14,087 495,913
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 54,646 3,231,056
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 1,542,872 285,158 1,257,714
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 271,969 271,965 4
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 3,637,622 583,395 3,054,227
Total $7,281,956 $665,774 $6,616,182
Status Key
B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-progress
D -Design Completed R - Re-budget Next Fiscal Year
I
E
I
C
E
C
I
C
AGENDA ITEM # 4A
MARCH 24, 2008
i
C
ater Sales
City of Atlantic Beach, F1.
Utility Sales Report
February 2008
.. _
~~ ~ .
Gallons Actual Revenue
XAccounts 0000 Revenue Per ~,ooo gi Accounts
ebruary 2007
...
..,.
Gallons Actual
0000 Revenue
venue
Per 1,000 gi
Atlantic Beach 5,637 38,247 $108,919 $2.85 ` 5,608 40,583 $101,329 $2.50
Buccaneer 2,426 21,625 $68,590 $3.17;x: 2,442 22,249 $64,794 $2.91
Total Water Sales
t 8,063 59,872 $177,509 52.96 ~; 8,050 62,832 5166,123 $2.64
.._ ,.
Gallons .
,, _,
, . ,
.
Gallons
Water Plant Production ~ 0000 0000
Atlantic Beach 47,947 50,512
Buccaneer 15,989 19,073
Total Production 63,936 69,585
Total Water Billed 59,872 62,832
b Water Loss for month: 4,064 6,753
Percentage Loss 6.36°A 9.70°~6
Total 12 mo. Avg. Loss 12.76°A° 12.05%
Gallons Actual Revenue ~ ` Gallons Actual Revenue
Sewer Sales Accounts 0000 Revenue Per ~,ooo g~ '~? Accounts 0000 Revenue Per ~,ooo g~
Atlantic Beach 5,105 31,820 $169,816 $5.34.,:;. 5,058 33,231 $156,394 $4.71
Buccaneer 2,323 20,581 $135,262 $6.57 `). 2,322 21,002 $124,531 $5.93
` Total Sewer Sales 7,428 52,401 1305,078 =5.82 ;~; T,380 54,233 5280,925 $5.18
... , }_
Gallons
Actual
Revenue _
Gallons
Actual
Revenue
Sewer Treatment 0000 Revenue Per 1,000 gi , : 0000 Revenue Per 1,000 gl
Atlantic Beach 42.138 $169,816 $4.03:': 45.361 $156,394 $3.45
Buccaneer 19.710 $135,262 $6.86 "'. 19.928 $124,531 $6.25
Totat Sewer Tn3ated 61.848 $305,078 64.93 ~`~+ 65.289 5280,925 64.30
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