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City of Atlantic Beach F gRUARy22?20 0
FINANCIAL REPORT
JANUARY 2010
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
Building Code Enforcement
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
Prior
12/31 /09
$5,498,617
18,741
36,080
207,155
619,361
179,566
(13,354)
25,668
887,683
3,512,090
525,616
38,973
3,852,330
10,258
91,786
$15,490,570
Current
01/31/10
$5,458,141
18,741
36, 079
203,173
583,663
177,161
(100)
31, 375
970,023
3,530,632
539,192
35,749
3,802,581
5, 571
119,371
$15,511,352
$7,502,530
$8,008,822
Cash and Investments
Account
Bank of America -Depository
5th 3rd Bank -Certificate of Deposit
SBA -Florida Prime
Cash on Hand
Police Pension Investments
General Pension Investments
Subtotal
Subtotal
Total
Prior
12/31 /09
$9,473,148
6,013,228
1,294
2,900
15,490,570
5,763,721
9,558,198
15,321,919
$30,812,489
Current
01 /31 /10
$9,491,652
6,016,593
207
2,900
15,511,352
5,650,868
9,362,080
15,012,948
Dollar
Change
($40,476)
0
(1)
(3,982)
(35,698)
(2,405)
13,254
5,707
82,340
18, 542
13,576
(3,224)
(49,749)
(4,687)
27, 585
$20,782
Dollar Rate of
Change Return
$18,504 0.30
3, 365 0.65
(1,087) 0.17
0 N/A
20,782
(112,853)
(196,118)
(308,971)
$30,524,300 ($288,189)
20.82 (1)
21.56 (1)
(1) YTD rate of return through 09/30/09
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2010
Revenues
AGENDA ITEM # 4A
FEBRUARY 22, 2010
Annual
Fund / (Footnote) Estimate
YTD - 33% YTD Dollar Percent
of Estimate Actual Variance Variance
General (1) $11,796,728
Tree Replacement 0
Convention Development Tax 80,500
Local Option Gas Tax 455,764
Better Jax 1/2 Ct Sales Tax 612,334
Police Training, Forfeit, etc. 25,750
Grants 116,296
Debt Service 69,000
Capital Projects 1,002,000
Utility (2) 13,484,898
Sanitation 1,822,000
Building Code Enforcement 308,050
Storm Water 933,000
Pension -Police (3) 910,823
Pension -General (3) 1,449,292
Total $33,066,435
$3,928,310 $5,914,162 $1,985,852 50.55%
0 3,920 3,920 100.00%
26,807 16,037 (10,770) -40.18%
151,769 152,264 495 0.33%
203,907 196,311 (7,596) -3.73%
8,575 7,797 (778) -9.07%
38,727 77,198 38,471 99.34%
22,977 22,833 (144) -0.63%
333,666 333,321 (345) -0.10%
4,490,471 2,535,413 (1,955,058) -43.54%
606,726 613,856 7,130 1.18%
102,581 75,230 (27,351) -26.66%
310,689 310,243 (446) -0.14%
303,304 247,478 (55,826) -18.41
482,614 421,871 (60,743) -12.59%
$11,011,123 $10,927,934 ($83,189)
Analysis of Major Variances
(1) The $1,985,852 positive variance in the General Fund resulted from having received
83% of the budgeted amount of property taxes to date. Typically the majority of the
property taxes are received from the City of Jacksonville in December & January.
(2) The $1,955,058 negative variance in the Utility Funds resulted from not having issued
the 2009 Revenue Notes and not having received the funds from the SRF loan. If the
amounts to be financed were not included in this calculation, the variance would be less
than negative 1 %.
(3) The $55,826 negative variance in the Police Employee Pension Fund & the $60,743
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2010
Expenses
AGENDA ITEM # 4A
FEBRUARY 22, 2010
Annual YTD - 33% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $43,303 $14,419 $14,648 ($229) -1.59%
City Administration 2,532,025 843,166 773,471 69,695 8.27%
General Government 642,296 213,884 215,163 (1,279) -0.60%
Planning and Building 508,068 169,187 155,383 13,804 8.16%
Public Safety (1) 6,343,731 2,112,462 1,642,420 470,042 22.25%
Recreation and Special Events 387,063 128,892 140,215 (11,323) -8.78%
Public Works (2) 8,872,410 2,954,513 2,084,211 870,302 29.46%
Public Utilities (3) 13,894,380 4,626,828 3,230,899 1,395,929 30.17%
Pension -Police 519,506 172,995 166,599 6,396 3.70%
Pension -General 513,359 170,949 153,740 17,209 10.07%
Total $34,256,141 $11,407,295 $8,576,749 $2,830,546
Annual YTD - 33% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services $9,301,713 $3,097,471 $2,821,769 $275,702 8.90%
Operating Expenses (2) - (3) 9,795,135 3,261,780 2,850,772 411,008 12.60%
Capital Outlay (1) - (3) 10,325,890 3,438,521 564,775 2,873,746 83.58%
Debt Service (4) 1,755,495 584,580 1,313,465 (728,885) -124.69%
Transfers 3,077,908 1,024,943 1,025,968 (1,025) -0.10%
Total $34,256,141 $11,407,295 $8,576,749 $2,830,546
Analysis of Major Variances
(1) The positive variance in the Public Safety department resulted from: vacant positions in
the Police Patrol and Detectives division, payments due quarterly on the Fire and Rescue
contract with the City of Jacksonville, seasonality of the Lifeguards and the Police Building
project has had limited activity -see Project Activity Schedule.
(2) The positive variance in the Public Works department resulted from only 3 of 4 monthly
payments for this fiscal year have been paid on the Advanced Disposal Services Jax LLC
and First Vehicles contracts. Also, the Royal Palms Stormwater project has had limited
activity -see Project Activity Schedule.
(3) The positive variance in the Public Utilities department resulted from limited activity on
the projects budgeted in the Sewer Fund -see Project Activity Schedule.
(4) The negative variance in the Debt Service accounts resulted from the semi-annual
payment of principal and interest on the Utility Revenue Bonds in October, 2009.
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2010
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
FEBRUARY 22, 2010
Project YTD YTD YTD
Project Name Number Budget Actual Balance Status
Public Safety
Lifeguard Building Roof Replacement
Police Building Renovation/Design/Construction
Public Utilities:
Replace Well at Water Plant #1
Reclaimed Water Plant Construction
TMDL - WWTP #1 Design
TMDL -Lift Station/Main Transfer Flow
Generator -Mimosa Cove Lift Station
Elevated Tank -Water Plant #1
Ground Storage Tank Rehab -Water Plant #1
Water Main -Ocean Boulevard/10th to 14th Street
Collection Syatem Inspection & Rehab
Mimosa Cove Lift Station Upgrades
Lift Station E Upgrades
Gavagan Lift Station
Camelia & West 3rd Street Lift Station
Schooner's Bay Lift Station
Stewart Street Lift Station
Selva Norte Lift Station
Hydroscreen Replacement
Concrete to GRIT Container
Subtotal
Public Works:
Riverbranch Preserve
Tennis Courts at Donner Community Center
Howell Park Bridge #5
Howell Park Bridge Replacement
Jordan Park -Drainage & Parking
Jordan Park -Water Fountain
Jordan Park -Covered Shelter
Roof at Donner Park Community Center
Veteran's Park -Flag & Pavilion
Donner Park -Accessory Building
Royal Palms Design
Royal Palms Stormwater Project
Sidewalk -Dutton Island Road & Donner Park
Sidewalk/Curb Replacement - FY 2010
Manhole - Saturiba & Seminole Road
LG0901 2,979 0 2,979 I
PS0504 435,788 13,364 422,424 E
438,767 13,364 425,403
PU0304 794,675 21,796 772,879 E
PU0805 150,276 0 150,276
PU0905 549,625 70,111 479,514 E
PU0906 3,847,296 43,302 3,803,994 E
PU0907 31,518 31,518 0 C
PU1001 15,000 0 15,000
PU1002 30,000 0 30,000
PU1003 150,331 0 150,331 E
PU1004 100,000 0 100,000
PU1005 160,000 0 160,000
PU1006 200,000 0 200,000
PU1007 4,500 0 4,500
PU1008 12,000 0 12,000
PU1009 17,000 0 17,000
PU1010 17,000 0 17,000
PU1011 4,500 0 4,500
PU1012 6,000 0 6,000
PU1013 25,000 0 25,000
6,114,721 166,727 5,947,994
PM0804 74,828 54 74,774 1
PM0905 13,354 4,912 8,442 I
PM0908 8,500 8,500 0 C
PM1001 20,000 9,500 10,500 I
PM1002 30,000 0 30,000
PM1003 5,000 0 5,000
PM1004 25,000 0 25,000
PM1005 50,000 0 50,000
PM 1006 10,172 0 10,172 E
PM1007 4,122 100 4,022 A
PW0808 37,026 12,656 24,370 I
PW0905 3,162,257 317,987 2,844,270 I
PW1001 43,732 0 43,732
PW1002 25,000 578 24,422 I
PW1003 15,000 0 15,000
Subtotal 3,523,991 354,287 3,169,704
Total $10,077,479 $534,378 $9,543,101
Status Kev
A -Advertised for bid proposals E -Design Phase
B -Bid Awarded I -Project In-progress
C -Project Completed R - Re-budget Next Fiscal Year
D -Design Completed