Item 4AAGENDA ITEM # 4A
JULY 26, 2010
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City of Atlantic Beach
FINANCIAL REPORT
JUNE 2010
Current
06/30/10
Cash Balances
Fund(s)
General
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 1/2 Cent Sales Tax
Police Training, Forfeiture & Grants
Community Development Block Grant
Debt Service
Capital Projects
Utility
Sanitation
Building Code Enforcement
Storm Water
Pension -Police
Pension -General
Morgan Stanley Smith Barney Unrealized Gains
Total
Total Restricted Cash
Total Unrestricted Cash
Prior
05/31 /10
$5,334,321
3,989
42,253
180,238
465,194
31,292
26,120
54,164
1,297,686
3,483,326
582,514
51,751
3,289,514
21,947
83,217
166,784
$15,114,310
$5,366,716
3,989
54,045
94,780
430,763
118,886
(26,319)
54,506
1,384,214
3,118,792
600,231
55,910
2,898,124
17,345
95,360
283,638
$14,550,980
$7,490,294
$7,060,686
AGENDA ITEM # 4A
JULY 26, 2010
Dollar
Change
$32,395
0
11,792
(85,458)
(34,431)
87,594
(52,439)
342
86, 528
(364,534)
17,717
4,159
(391,390)
(4,602)
12,143
116,854
($563,330)
Cash and Investments
Prior Current Dollar Rate of
Account 05/31/10 06/30/10 Change Return
Bank of America -Depository
Federal National Mortgage Association Bonds
US Treasury Notes
US Treasury Notes
Federal Farm Credit Bank Consolidated Bonds
Federal Home Loan Mortgage Corporation
Federal Home Loan Bank Consolidated Bonds
Morgan Stanley Smith Barney Cash Balance
SBA -Florida Prime
Cash on Hand
Police Pension Investments
General Pension Investments
Subtotal
Subtotal
Total
$7,743,577
1,008,440
1,120,080
2,065,620
1,129, 792
1,011,630
1,009,060
22,975
236
2,900
15,114,310
5,734,395
9, 549, 968
15,284,364
$30,398,673
$7,050,098
1,012,518
1,147,255
2,140,358
1,152,850
1,017,906
1,026,869
0
226
2,900
14,550,980
($693,479)
4, 078
27,175
74,738
23,058
6,276
17,809
(22,975)
(10)
0
(563,330)
0.300
3.100
4.625
3.625
4.875
4.000
4.300
N/A
0.340
N/A
5,639,097
9,386,873
15,025,970
$29,576,950
(95,298)
(163,095)
(258,393)
($821,723)
1.550 (1)
1.560 (1)
(1) YTD rate of return through 03/31/10
City of Atlantic Beach
FINANCIAL REPORT
JUNE 2010
Revenues
AGENDA ITEM # 4A
JULY 26, 2010
Annual I YTD - 75%
Fund / (Footnote) Estimate of Estimate
YTD Dollar
Actual Variance
Percent
Variance
General (1) $11,433,948 $8,575,461 $9,568,608 $993,147 11.58%
Tree Replacement ~ 0 0 3,989 3,989 100.00%
Convention Development Tax 80,500 60,375 53,080 (7,295) -12.08%
Local Option Gas Tax 455,764 341,823 331,635 (10,188) -2.98%
Better Jax 1/2 Ct Sales Tax 612,334 459,251 460,078 827 0.18%
Police Training, Forfeiture & Grants (2) 414,513 310,886 231,086 (79,800) -25.67%
Community Development Block Grant (3) 165,473 124,105 4,912 (119,193) -96.04%
Debt Service 69,000 51,750 51,457 (293) -0.57%
Capital Projects 1,002,000 751,500 752,217 717 0.10%
Utility (4) 13,766,898 10,325,174 5,866,253 (4,458,921) -43.18%
Sanitation 1,822,000 1,366,500 1,355,216 (11,284) -0.83%
Building Code Enforcement 308,050 231,038 207,449 (23,589) -10.21
Storm Water 933,000 699,750 703,473 3,723 0.53%
Pension -Police (5) 910,823 683,117 454,900 (228,217) -33.41%
Pension -General (5) .._______1_,449,292 1,086,969 __647,139 (439,830) -40.46%
Total $33,423,595 $25,067,699 $20,691,492
Analysis of Major Variances
(1) The $993,147 positive variance in the General Fund resulted from having received
101 % 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 $79,800 negative variance in the Police Training, Forfeiture & Grant Funds
resulted from not having received the reimbursement requests submitted in July, 2010 for
expenses incurred in June, 2010. These grants receive revenues on a reimbursement
request basis.
(3) The $119,193 negative variance in the Community Development Block Grant resulted
from expenditures that are 27.5% of the budgeted year to date amounts. This grant
receives revenues on a reimbursement request basis -see Project Activity Schedule.
(4) The $4,458,921 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 or the
Local Mitigation Strategy Grant. If amounts to be financed and the grant were not
included in this calculation, the variance would be a positive 4.0%.
(5) The $228,217 negative variance in the Police Employee Pension Fund & the $439,830
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
JUNE 2010
Expenses
AGENDA ITEM # 4A
JULY 26, 2010
Annual YTD - 75% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Body $43,303 $32,477 $33,296 ($819) -2.52%
City Administration 2,410,320 1,807,741 1,600,613 207,128 11.46%
General Government 642,296 481,722 439,796 41,926 8.70%
Planning and Building 508,068 381,052 357,218 23,834 6.25%
Public Safety (1) 6,464,417 4,848,316 4,088,362 759,954 15.67%
Recreation and Special Events 387,063 290,297 270,666 19,631 6.76%
Public Works (2) 8,936,899 6,702,676 5,225,995 1,476,681 22.03%
Public Utilities (3) 14,023,867 10,517,894 7,004,538 3,513,356 33.40%
Pension -Police 519,506 389,630 374,017 15,613 4.01
Pension -General 513,359 385 019 378,225 6,794 1.76%
Total $34,449,098 $25,836,824 $19,772,726 $6,064,098
Annual YTD - 75% YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services (1) $9,285,591 $6,964,194 $6,256,324 $707,870 10.16%
Operating Expenses (1) - (2) 9,770,187 7,327,640 6,488,108 839,532 11.46%
Capital Outlay (1) - (3) 10,559,917 7,919,938 3,039,912 4,880,026 61.62%
Debt Service (4) _ 1,755,495 1,316,621 1,679,951 (363,330) -27.60%
Transfers 3,077,908 2,308,431 2,308,431 0 0.00%
Total $34,449,098 $25,836,824 $19,772,726 $6,064,098
Analysis of Major Variances
(1) The positive variance in the Public Safety department resulted from: vacant positions,
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 expending
approximately 47.5% of the budgeted amount on the Royal Palms Stormwater project -
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 is due to the payment of interest and
principal on 10/01/09 and 12/01/09 and the payment of interest only on 04/01/10 and
06/01 /10.
City of Atlantic Beach
FINANCIAL REPORT
JUNE 2010
Project Activity -Current Year Activity Only
AGENDA ITEM # 4A
JULY 26, 2010
Project Name Project
Number YTD
Budget YTD
Actuat YTD
Balance
Status
Public Safety
Lifeguard Building Roof Replacement LG0901 0 0 0 X
Police Building Renovation/Design/Construction PS0504 435,788 20,628 415,160 E
435,788 20,628 415,160
Public Utilities:
Replace Well at Water Plant #1 PU0304 752,834 299,475 453,359 I
Reclaimed Water Plant Construction PU0805 0 0 0 X
TMDL - WWTP #1 Design PU0905 566,125 365,971 200,154 E
TMDL -Lift Station/Main Transfer Flow PU0906 3,847,296 355,204 3,492,092 E
Generator -Mimosa Cove Lift Station PU0907 31,518 31,518 0 C
Elevated Tank -Water Plant #1 PU1001 40,588 0 40,588
Ground Storage Tank Rehab -Water Plant #1 PU1002 41,253 0 41,253
Water Main -Ocean Boulevard/10th to 14th Street PU1003 150,331 145,383 4,948 I
Collection Syatem Inspection & Rehab PU1004 400,000 0 400,000 I
Mimosa Cove Lift Station Upgrades PU1005 142,000 0 142,000 I
Lift Station E Upgrades PU1006 200,000 0 200,000
Gavagan Lift Station PU1007 8,338 7,571 767 C
Camelia & West 3rd Street Lift Station PU1008 12,000 12,000 0 C
Schooner's Bay Lift Station PU1009 12,972 11,909 1,063 C
Stewart Street Lift Station PU1010 17,190 2,187 15,003 I
Selva Norte Lift Station PU1011 5,318 5,262 56 C
Hydroscreen Replacement PU1012 6,000 0 6,000
Concrete to GRIT Container PU1013 8,500 0 8,500
Tank Rehab -Water Plant 4 PU1014 19,580 0 19,580
Subtotal 6,261,843 1,236,480 5,025,363
Public Works:
Riverbranch Preserve PM0804 74,804 22,209 52,595 E
Tennis Courts at Donner Community Center PM0905 13,354 4,912 8,442 C
Howell Park Bridge #5 ~ PM0908 8,500 8,500 0 C
Howell Park Bridge Replacement PM1001 20,000 9,500 10,500 I
Jordan Park -Drainage & Parking PM1002 30,000 0 30,000
Jordan Park -Water Fountain PM1003 5,000 0 5,000 I
Jordan Park -Covered Shelter PM1004 25,000 0 25,000 I
Roof at Donner Park Community Center PM1005 50,000 0 50,000 R
Veteran's Park -Flag & Pavilion PM1006 10,196 10,196 0 C
Donner Park -Accessory Building PM1007 57,241 35,093 22,148 I
Dog Park -Hopkins Creek PM1008 20,800 0 20,800
Royal Palms Design PW0808 37,026 25,418 11,608 I
Royal Palms Stormwater Project PW0905 3,162,257 1,503,080 1,659,177 I
Sidewalk -Dutton Island Road & Donner Park PW1001 43,732 0 43,732 I
Sidewalk/Curb Replacement - FY 2010 PW1002 25,000 578 24,422 I
Manhole - Saturiba & Seminole Road PW1003 15,000 0 15,000
Subtotal 3,597,910 1,619,486 1,978,424
Total $10,295,541 $2,876,594 $7,418,947
Status Key
A - Bid•Advertised I -Project In-progress
B -Bid Awarded N -Complete/Non-Capital
C -Project Completed R - Re-budget Next Fiscal Year
D -Design Completed X -Project Cancelled
E -Design Phase
AGENDA ITEM # 4A
JULY 26, 2010
City of Atlantic Beach, FI.
Utility Sales Report
June 2010
Water Sales
Atlantic Beach
Buccaneer
Total Water Sales
Gallons Actual Revenue
Accounts 0000 Revenue Per 1,000 gi
5,529 43,023 $159,312 $3.70
2,448 24,233 $100,992 $4.17
7.977 67.256 5260.304 53.87
Water Plant Production
Atlantic Beach
Buccaneer
Total Production
Total Water Billed
"; Water Loss for month:
Percentage Loss
t Total 12 mo. Avg. Loss
Sewer Sales
Atlantic Beach
Buccaneer
Total Sewer Sales
Sewer Treatment
Atlantic Beach
Buccaneer
Total Sewer Treated
Gallons
0000
59, 020
20,499
79,519
67,256
12,263
15.42%
15.93%
June 2009
Gallons Actual Revenue
Accounts 0000 Revenue Per 1,000 gi
5,589 42,625 $133,505 $3.13
2,469 20,749 $75,003 $3.61
8,058 63.374 5208.508 53.29
Gallons
0000
53, 094
19, 554
72,648
63,374
9,274
12.77%
12.18%
Gallons Actual Revenue Gallons Actual Revenue
Accounts 0000 Revenue Per 1,000 gi ,Accounts 0000 Revenue Per 1,000 gl
5,132 34,284 $229,819 $6.70 5,122 34,690 $204,423 $5.89
2,340 23,490 $185,701 $7.91 2,339 19,219 $146,411 $7.62
7.472 57.774 5415.519 57.19 7_ds1 ss ans~ ~s~n aid ca a,
Gallons Actual Revenue
0000 Revenue Per 1,000 gi
Gallons Actual Revenue
0000 Revenue Per 1,000 9
45.047 $229,819 $5.10 ~ 60.349 $204,423 $3.39
16.302 $185,701 $11.39 19.612 $146 411 $7 47
61.349 5415.519 56.77 79.981 t38n a~ td zc