Item 4AAGENDA ITEM # 4A
APRIL 28, 2008
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AGENDA ITEM # 4A
APRIL 28, 2008
City of Atlantic Beach,
Fl.
Utility Sales Report
March 2008
March 2007
Gallons
Actual
Revenue
Gallons
Actual
Revenue
Water Sales
Accounts
0000
Revenue
Per 1,000 gi
Accounts
0000
Revenue
Per 1,000 gi
Atlantic Beach
5,616
37,298
$105,638
$2.83
5,581
40,604
$100,002
$2.46
Buccaneer
2,474
19,426
$63,619
$3.27
2,449
22,437
$65,510
$2.92
Total Water Sales
8,090
56,724
$169,257
$2.98
8,030
63,041
$165,512
$2.63
Gallons
Gallons
Water Plant Production
0000
0000
Atlantic Beach
53,124
55,506
Buccaneer
17,168
23,376
Total Production
70,292
78,882
Total Water Billed
56,724
63,041
Water Loss for month:
13,568
15,841
Percentage Loss
19.30%
20.08%
Total 12 mo. Avg. Loss
12.63%
11.61%
Gallons
Actual
Revenue
Gallons
Actual
Revenue
Sewer Sales
Accounts
0000
Revenue
Per 1,wo gi
Accounts
0000
Revenue
Per 1,000 gi
Atlantic Beach
5,106
30,621
$164,799
$5.38
5,038
33,564
$157,706
$4.70
Buccaneer
2,350
18,461
$125,622
$6.80
2,330
21,291
$124,783
$5.86
Total Sewer Sales
7,456
49,082
$290,421
$5.92
7,368
54,855
$282,489
$5.15
Gallons
limillsomillililli
Actual
Revenue
Oil 111
Gallons
Actual
Revenue
Sewer Treatment
0000
Revenue
Per 1,000 gi
0000
Revenue
Per 1,000 gI
Atlantic Beach
45.032
$164,799
$3.66
49.401
$157,706
$3.19
Buccaneer
21.522
$125,622
$5.84
21.382
$124,783
$5.84
Total Sewer Treated
66.554
$290,421
$4.36
70.783
$282,489
$3.99
AGENDA ITEM # 4A
City of Atlantic Beach APRIL 28,2008
FINANCIAL REPORT
MARCH 2008
Cash Balances
Total Restricted Cash $6,948,787
Total Unrestricted Cash $8,813,439
Cash and Investments
Account
Prior
2/29/08
Current Dollar Rate of
3/31/08 Change Return %
Bank of America - Depository
Prior
Current
Dollar
Fund(s)
02/29/08
03/31/08
Change
General
$7,275,420
$7,169,954
($105,466)
Tree Replacement
23,519
23,519
0
Convention Development Tax
220,358
222,643
2,285
Local Option Gas Tax
350,273
372,497
22,224
Better Jax 1/2 Cent Sales Tax
1,216,421
1,175,745
(40,676)
Police Training, Forfeit, etc.
73,528
77,850
4,322
Grants
6,293
9,906
3,613
Debt Service
44,668
50,469
5,801
Capital Projects
138,197
165,974
27,777
Utility
3,758,298
3,824,481
66,183
Sanitation
410,273
440,227
29,954
Storm Water
2,305,566
2,134,193
(171,373)
Pension - Police
48,128
37,350
(10,778)
Pension - General
40,411
57,418
17,007
Total
$15,911,353
$15,762,226
($149,127)
Total Restricted Cash $6,948,787
Total Unrestricted Cash $8,813,439
Cash and Investments
Account
Prior
2/29/08
Current Dollar Rate of
3/31/08 Change Return %
Bank of America - Depository
$3,331,742
$3,157,978
SBA
1,446
1,360
Banc of America Securities LLC
12,575,615
12,600,338
Cash on Hand
2,550
2,550
Subtotal
15,911,353
15,762,226
Police Pension Investments
5,630,798
5,606,155
General Pension Investments
8,830,054
8,792,037
Subtotal
14,460,852
14,398,192
($173,764) 2.71
(86) 3.07
24,723 1.71
0 -
(149,127)
(24,643)
(38,017)
(62,660)
(0.20) (1)
0.10 (1)
Total $30,372,205 $30,160,418 ($211,787)
(1) FYTD rate of return through 12/31/07
City of Atlantic Beach
FINANCIAL REPORT
MARCH 2008
Revenues
AGENDA ITEM # 4A
APRIL 28, 2008
Annual I YTD - 50% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
General (1)
$11,336,598
$5,668,299
$7,107,285
$1,438,986
25.39%
Tree Replacement
0
0
13,806
13,806
100.00%
Convention Development Tax
90,500
45,250
19,727
(25,523)
- 56.40%
Local Option Gas Tax
537,196
268,598
265,639
(2,959)
-1.10%
Better Jax 1/2 Ct Sales Tax
831,885
415,943
366,828
(49,115)
-11.81%
Police Training, Forfeit, etc.
47,530
23,765
21,193
(2,572)
- 10.82%
Grants
271,690
135,846
109,333
(26,513)
- 19.52%
Debt Service
70,966
35,483
34,952
(531)
-1.50%
Capital Projects
330,000
165,000
165,974
974
0.59%
Utility (2)
9,585,150
4,792,576
3,271,908
(1,520,668)
- 31.73%
Sanitation
1,762,230
881,115
915,193
34,078
3.87%
Storm Water (3)
3,162,675
1,581,338
975,824
(605,514)
- 38.29%
Pension - Police (4)
745,841
372,921
(72,696)
(445,617)
- 119.49%
Pension - General (4)
1,244,005
622,003
9,143
612,860
- 98.53%
Total $30,016,266 $15,008,137 $13,204,109
Analysis of Major Variances
(1) The $1,438,986 positive variance in the General Fund resulted from having received
88% of the budgeted property taxes. Typically the majority of these taxes are received
from the City of Jacksonville in December & January.
(2) The $1,520,668 negative variance in the Utility Funds resulted from not having received
$461,000 budgeted for the St. John's River Water Management District grant, $700,000
for bonds that are to be issued in fiscal year 2008 & a variance of $351,403 from
decreased sales.
(3) The $605,514 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 $445,617 negative variance in the Police Employee Pension Fund & the $612,860
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
MARCH 2008
AGENDA ITEM # 4A
APRIL 28, 2008
Expenses
Annual YTD-50% YTD Dollar Percent
Department/ (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body
$47,760
$23,880
$21,899
$1,981
8.30%
City Administration
2,184,959
1,092,481
982,386
110,095
10.08%
General Government
1,268,362
634,181
521,173
113,008
17.82%
Planning and Building
503,305
251,653
206,016
45,637
18.13%
Public Safety (1)
5,492,461
2,746,234
2,061,892
684,342
24.92%
Parks and Recreation
354,137
177,069
172,683
4,386
2.48%
Public Works (2)
9,699,728
4,849,863
3,596,904
1,252,959
25.83%
Public Utilities (3)
10,125,589
5,062,790
3,628,320
1,434,470
28.33%
Pension - Police (4)
330,591
165,296
206,499
(41,203)
- 24.93%
Pension- General(4)
371,843
185,922
227,173
(41,251)
- 22.19%
Total
$30,378,735
$15,189,369
$11,624,945
$3,564,424
Annual
YTD - 50%
YTD
Dollar
Percent
Resource Allocation
Estimate
of Estimate
Actual
Variance
Variance
Personal Services
$8,455,591
$4,227,796
$3,846,837
$380,959
9.01%
Operating Expenses (1) & (2)
9,959,791
4,979,896
4,223,677
756,219
15.19%
Capital Outlay (1), (2) & (3)
7,980,284
3,990,142
1,115,067
2,875,075
72.05%
Debt Service (5)
1,683,795
841,898
1,289,727
(447,829)
- 53.19%
Transfers
2,299,274
1,149,637
1,149,637
0
0.00%
Total
$30,378,735
$15,189,369
$11,624,945
$3,564,424
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 5 of 6 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 until March— see the Project Activity Schedule.
(4) The negative variances in the Police & General Pension funds resulted from expensing
the distributions of the DROP plan that were not budgeted.
(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
FINANCIAL REPORT
MARCH 2008
Project Activity - Curr Year Activity Only
AGENDA ITEM # 4A
APRIL 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
27,733
899
Subtotal
358,632
27,733
330,899
Public Utilities:
Shangri La Sewer Improvements
PU0704
58,109
36,701
21,408
TMDL Engineering WWTP 1
PU0706
510,000
35,679
474,321
SCADA Improvements
PU0801
30,000
0
30,000
Collection System Inspection & Rehabilitation
PU0802
829,000
0
829,000
Hydroscreens
PU0803
30,000
1,430
28,570
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
96,403
3,189,299
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
1,512,872
486,482
1,026,390
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
1,625
28,375
Ardella Road Drainage Project
PW0807
75,000
0
75,000
Royal Palms Design
PW0808
400,000
0
400,000
Subtotal 3,607,622 786,344 2,821,278
Total $7,251,956 $910,480 $6,341,476
Status Key
B - Bid Awarded E - Design Phase
C - Project Completed I - Project In- progress
D - Design Completed R - Re- budget Next Fiscal Year