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City of Atlantic Beach AGENDA ITEM#4A
FINANCIAL REPORT MAY 27,ZOOa
APRIL 2008
Cash Balances
Prior Current Dollar
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
Building Code Enforcement
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
03/31/08 04/30/08 Change
$7,192,273
23,519
222,643
372,497
1,175, 745
77,850
9,906
50,469
165,974
3,824,481
440,227
(22, 319)
2,134,193
37,350
57,418
$15,762,226
$6, 831, 997
23,519
222,927
380,512
1,131,762
60,788
6,293
56,251
193,704
3,604,124
454,637
88,684
2,481,191
23,924
74,124
$15,634,437
$6,952,067
($360,276)
0
284
8,015
(43,983)
(17,062)
(3,613)
5,782
27,730
(220,357)
14,410
$111,003
346, 998
(13,426)
16, 706
($127,789)
$8,682,370
Cash and Investments
Prior Current Dollar
Account 3/31/08 4/30/08 Change
Bank of America -Depository
SBA
Banc of America Securities LLC
Cash on Hand
Subtotal
Police Pension Investments
General Pension Investments
Subtotal
Total
$3,157,978
1, 360
12,600,338
2, 550
15,762,226
5,606,155
8,792,037
14, 398,192
$30,160,418
$3, 011, 901
1, 343
12,618,643
2, 550
15,634,437
5,762,378
9,032,888
14,795,266
($146, 077)
(17)
18,305
0
Rate of
Return
2.18
2.74
1.94
(127,789)
156,223
240, 851
397,074
$30,429,703 $269,285
(3.70) (1)
(3.40) (1)
(1) FYTD rate of return through 03/31/08
City of Atlantic Beach
FINANCIAL REPORT
APRIL 2008
Revenues
AGENDA ITEM # 4A
MAY 27, 2008
Annual YTD - 58% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
General (1)
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 1/2 Ct Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Capital Projects
Utility (2)
Sanitation
Building Code Enforcement
Storm Water (3)
Pension -Police (4)
Pension -General (4)
$11,007,888
0
Total $
90, 500
537,196
831, 885
47, 530
290,478
70, 966
330, 000
9,585,150
1,762,230
513,329
3,162,675
745, 841
1,244,005
0,219,673
$6,417,599 $7,765,275 $1,347,676 21.00%
0 13, 806 13, 806 100.00%
52,762 20,012 (32,750) -62.07%
313,185 301,658 (11,527) -3.68%
484,989 422,018 (62,971) -12.98%
27,710 21,281 (6,429) -23.20%
169,349 109,333 (60,016) -35.44%
41,373 40,734 (639) -1.54%
192, 390 193, 704 1, 314 0.68%
5,588,143 3,838,551 (1,749,592) -31.31%
1,027,380 1,067,206 39,826 3.88%
299,271 232,880 (66,391) -22.18%
1,843,840 1,537,447 (306,393) -16.62%
434,825 107,234 (327,591) -75.34%
725,255 302,157 (423,098) -58.34%
$17,618,071 $15,973,296 ($1,644.7751
Analysis of Major Variances
(1) The $1,347,676 positive variance in the General Fund resulted from having received
93% of the budgeted property taxes. Typically the majority of these taxes are received
from the City of Jacksonville in December & January.
(2) The $1,749,592 negative variance in the Utility Funds resulted from not having received
$537,526 budgeted for the St. John's River Water Management District grant, $816,200
for bonds that are to be issued in fiscal year 2008 & a variance of $410,884 from
decreased sales.
(3) The $306,393 negative variance in the Storm Water Fund resulted from having
received $400,000 of the $1,200,000 budgeted for the Hopkins Creek Project
(4) The $327,591 negative variance in the Police Employee Pension Fund & the $423,098
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
APRIL 2008
AGENDA ITEM # 4A
MAY 27, 2008
Expenses
Annual YTD - 58% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body
City Administration
General Government
Planning and Building
Public Safety (1)
Parks and Recreation
Public Works (2)
Public Utilities (3)
Building Code Enforcement
Pension -Police
Pension -General
Tota I
$47,760 $27,844 $25,223 $2,621 9.41%
2,290,906 1,335,599 1,167,767 167,832 12.57%
1,220,481 711,541 696,031 15,510 2.18%
235,024 137,019 102,991 34,028 24.83%
5,562,686 3,243,048 2,607,104 635,944 19.61%
354,137 206,462 198,823 7,639 3.70%
9,391,078 5,474,997 4,223,528 1,251,469 22.86%
10,125,589 5,903,219 4,425,187 1,478,032 25.04%
268,281 156,408 144,540 11,868 7.59%
437,323 254,959 245,754 9,205 3.61%
459,094 267,652 264 755 2 897 1.08%
$30,392,359 $17,718,748 $14,101,703 $3,617,045
Annual YTD - 58% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services $8,531,966 $4,974,136 $4,463,409 $510,727 10.27%
Operating Expenses (1) & (2) 10,240,607 5,970,276 5,173,894 796,382 13.34%
Capital Outlay (1), (2) & (3) 7,452,068 4,344,556 1,350,669 2,993,887 68.91%
Debt Service (4) 1,683,825 981,670 1,664,793 (683,123) -69.59%
Transfers 2,483,893 1,448 110 1 448 938 (828) -0.06%
Total $30,392,359 $17,718,748 $14,101,703 $3,617,045
Analysis of Major Variances
(1) The positive variance in the Public Safety departments resulted from only 2 of 4
quarterly payments being made on the City of Jacksonville fire services contract, no
expenditures in the related grant funds, 2 vacancies in the Patrol division, lifeguard
services being seasonal 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 6 of 7 monthly
payments being made on the Waste Services of Florida, Inc. and First Vehicle contracts
and limited activity on various projects funded from this source -see the Project Activity
Schedule.
(3) The positive variance in the Public Utilities departments resulted from limited activity on
various projects funded from this source -see the Project Activity Schedule.
(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
APRIL 2008
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
MAY 27, 2008
Project YTD YTD YTD
Project Name Number Budget Actual Balance
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 65,394 444,606
SCADA Improvements PU0801 30,000 0 30,000
Collection System Inspection & Rehabilitation PU0802 829,000 0 829,000
Hydroscreens PU0803 30,000 3,138 26,862
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 3,285,702 127,826 3,157,876
Public Works:
Fence PM0801 8,000 0 8,000
Shelter at Donner Community Center PM0802 20,500 0 20,500
Lights at Veteran's Park PM0803 15,000 0 15,000
Public Art Turtle Statue PM0805 70,000 0 70,000
Jordan Park -Irrigation & Sod PM0807 12,000 0 12,000
Hopkins Creek Retention PW0309 1,512,872 582,205 930,667
Mayport Road Medians PW0401 400,000 5,007 394,993
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 26,978 0 26,978
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 3,046,410 887,074 2,159,336
Total $6,690,744 $1,042,633 $5,648,111
Status Kev
B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-prog ress
D -Design Completed R - Re-budget Next Fiscal Year
Status