Agenda Item 4ACity of Atlantic Beach
FINANCIAL REPORT
AUGUST 2011
AGENDA ITEM # 4A
SEPTEMBER 26, 2011
Cash Balances
Total Restricted Cash $8,003,804
Total Unrestricted Cash $7,716,546
Prior
Current
Dollar
Fund(s)
07/31/11
08/31/11
Change
General
$5,909,892
$5,699,517
($210,375)
Tree Replacement
3,509
3,509
0
Convention Development Tax
158,971
193,115
34,144
Local Option Gas Tax
40,234
58,371
18,137
Better Jax 1/2 Cent Sales Tax
190,037
186,621
(3,416)
Police Training, Forfeiture, Grants, etc.
153,182
142,029
(11,153)
Community Development Block & ARRA Grants
(2,125)
(14,393)
(12,268)
Debt Service
60,657
66,658
6,001
Capital Projects
2,077,117
2,150,405
73,288
Utility
3,380,364
5,052,150
1,671,786
Sanitation
716,182
659,508
(56,674)
Building Code Enforcement
42,910
51,989
9,079
Storm Water
1,195,492
1,195,439
(53)
Pension - Police
3,291
81,439
78,148
Pension - General
119,288
140,910
21,622
Investments - Unallocated Gains (Losses)
21,677
53,083
31,406
SBA - Florida Prime
Total $14,070,678
$15,720,350
$1,649,672
Total Restricted Cash $8,003,804
Total Unrestricted Cash $7,716,546
Total $32,365,565 $33,210,026 $844,461
(1) Rate of return is 3.9% as of 08/31/11
(2) Rate of return as of 08/31/11
Cash and Investments
Prior
Current
Dollar
Interest
Account
07/31/11
08/31/11
Change
Rate
Bank of America - Depository
$2,195,951
$11,568,213
$9,372,262
0.270%
US Treasury Notes
1,171,443
0
(1,171,443)
4.625%
US Treasury Notes
2,206,566
0
(2,206,566)
3.625%
Federal Farm Credit Bank Consolidated Bonds
1,148,496
0
(1,148,496)
4.875%
Pimco Mutual Fund
2,098,716
1,067,500
(1,031,216)
2.054%(l)
Putnam US Government Mutual Fund
2,096,980
1,073,643
(1,023,337)
5.076%
(1)
Eaton Vance Government Obligation Fund
999,055
1,007,762
8,707
4.085%
(1)
Loomis Sayles Limited Term Government & Agency
Fund 0
1,000,000
1,000,000
3.380%
(1)
MorganStanley SmithBarney AA Money Trust
2,150,239
0
(2,150,239)
0.010%
SBA - Florida Prime
282
282
0
0.230%
Cash on Hand
2,950
2,950
0
N/A
Subtotal 14,070,678
15,720,350
1,649,672
Rate of
Return
Police Pension Investments
6,629,021
6,411,544
(217,477)
-3.66%(2)
General Pension Investments
11,665,866
11,078,132
(587,734)
-2.80%(2)
Subtotal 18,294,887
17,489,676
(805,211)
Total $32,365,565 $33,210,026 $844,461
(1) Rate of return is 3.9% as of 08/31/11
(2) Rate of return as of 08/31/11
City of Atlantic Beach
FINANCIAL REPORT
AUGUST 2011
Revenues
AGENDA ITEM # 4A
SEPTEMBER 26, 2011
Annual
Fund / (Footnote) Estimate
YTD - 92% YTD Dollar
of Estimate Actual Variance
Percent
Variance
General (1) & (3)
$11,515,549
$10,559,758
Convention Development Tax
264,857
242,874
Local Option Gas Tax
463,523
425,051
Better Jax 1/2 Ct Sales Tax
658,424
603,775
Police Training, Forfeiture & Grants, etc.
185,917
170,486
Grants (2)
647,352
593,622
Debt Service
68,650
62,952
Capital Projects
903,000
828,051
Utility (3)
19,061,825
17,479,694
Sanitation
1,837,500
1,684,988
Building Code Enforcement
317,850
291,468
Storm Water
669,124
613,587
Pension - Police
964,726
884,654
Pension - General
1,522,969
1 1,396,563
$35,837,523
Total $39,081,266
$11,049,834
$490,076
4.64%
187,696
(55,178)
- 22.72%
413,658
(11,393)
-2.68%
594,033
(9,742)
-1.61%
258,794
88,308
51.80%
39,061
(554,561)
- 93.42%
65,744
2,792
4.44%
937,120
109,069
13.17%
12,904,665
(4,575,029)
- 26.17%
1,647,110
(37,878)
-2.25%
279,178
(12,290)
-4.22%
759,264
145,677
23.74%
910,485
25,831
2.92%
1,452,394
55,831
4.00%
$31,499,036
($4,338,487)
Analysis of Major Variances
(1) The $490,076 positive variance in the General Fund resulted from having received
104.6% of the fiscal year to date budgeted property taxes. Also, the interest earnings
from the City investments are 114.6% of the fiscal year to date budgeted amount.
(2) The $554,761 negative variance in the Grant Funds resulted from having expended
6.4% of the budgeted fiscal year to date amounts. All of these grants receive revenues
when the related expenditures are made on the projects and a reimbursement request is
filed with the granting agency.
(3) The $4,575,029 negative variance in the Utility Funds resulted from not having received
the budgeted fiscal year to date loan proceeds. Partial receipts were received in
December, 2010 and August, 2011. The City will receive additional loan proceeds as
needed when the related expenditures are made on the project. If the loan was not
included in this calculation, the variance would be a positive 9.7 %.
City of Atlantic Beach
FINANCIAL REPORT
AUGUST 2011
Expenses
AGENDA ITEM # 4A
SEPTEMBER 26, 201 I
Department I (Footnote)
Governing Body
City Administration
General Government
Planning and Building
Public Safety
Recreation and Special Events
Public Works (1) & (3)
Public Utilities (2) & (3)
Pension - Police
Pension - General
Total
Annual YTD - 92% YTD Dollar Percent
Estimate of Estimate Actual Variance Variance
$42,260
$38,752
$36,523
$2,229
5.75%
2,522,102
2,312,766
2,205,903
106,863
4.62%
910,895
835,291
569,442
265,849
31.83%
531,131
487,047
425,910
61,137
12.55%
6,128,038
5,619,414
5,106,795
512,619
9.12%
392,160
359,611
348,175
11,436
3.18%
6,804,017
6,239,284
5,225,859
1,013,425
16.24%
19,695,451
18,060,726
11,786,361
6,274,365
34.74%
548,977
503,412
548,411
(44,999)
-8.94%
555,445
509,343
647,274
(137,931)
- 27.08%
$38,130,476
$34,965,646
$26,900,653
$8,064,993
Resource Allocation
Personal Services (1) & (2)
Operating Expenses (1) - (3)
Capital Outlay (1) & (2)
Debt Service
Transfers
Total
Annual
Estimate
YTD - 92%
of Estimate
YTD
Actual
Dollar
Variance
Percent
Variance
$9,330,895
$8,556,430
$8,150,127
$406,303
4.75%
10,260,855
9,409,204
8,531,751
877,453
9.33%
13,878,313
12,726,413
6,108,873
6,617,540
52.00%
2,137,906
1,960,460
1,717,223
243,237
12.41%
2,522,507
2,313,139
2,392,679
(79,540)
-3.44%
$38,130,476
$34,965,646
$26,900,653
$8,064,993
Analysis of Major Variances
(1) The positive variance in the Public Works department resulted from: only 10 of 11
monthly payments have been paid on the Advanced Disposal Services contract; retiring
employees positions being vacant until replaced with employees at a lower salary; only
33.3% of the budget has been expended for the Stormwater Master Plan; and limited
activity on the various Parks projects funded from this source — see Project Activity
Schedule.
(2) The positive variance in the Public Utilities department resulted from retiring employees
positions being vacant until replaced with employees at a lower salary and limited activity
on the various projects funded from this source — see Project Activity Schedule.
(3) The positive variance in the Operating Expenses is partially due to 63.2% of the budget
for repair & maintenance and 75.5% of the budget for professional & contractual services
has been spent City wide.
City of Atlantic Beach
FINANCIAL REPORT
AUGUST 2011
Project Activity - Current Year Activity Only
AGENDA ITEM # 4A
SEPTEMBER 26, 2011
Project Name
Project
Number
Budget
YTD
Actual
YTD
Balance Status
Public Safety
PUO304
287,018
212,550
74,468 1
Lifeguard Building Roof Replacement
LG0901
8,000
0
8,000 1
Police Building Renovation /Design /Construction
PS0504
431,491
316,545
114,946 E
Ground Storage Tank Rehab - Water Plant #1
PU1002
439,491
316,545
122,946
Public Utilities:
Replace Well at Water Plant #1
PUO304
287,018
212,550
74,468 1
TMDL - WWTP #1 Design
PU0905
91,205
91,204
1 C
TMDL - Lift Station /Main Transfer Flow
PU0906
1,708,709
1,515,531
193,178 1
Ground Storage Tank Rehab - Water Plant #1
PU1002
44,340
44,340
0 C
Collection System Inspection & Rehab
PU1004
27,788
27,789
(1) C
Mimosa Cove Lift Station Upgrades
PU1005
61,498
61,498
0 C
Lift Station E Upgrades
PU1006
48,183
48,183
0 C
Well Rehab - Well # 1 @ Water Plant #1
PU1101
51,026
51,025
1 C
Elevated Tank Rehab - Water Plant #2
PU1102
10,500
10,500
0 C
Ground Storage Tank Rehab - Water Plant #4
PU1103
75,915
59,800
16,115 1
Replace 2" Water Main - 11th Street
PU1104
79,875
15,021
64,854 D
Sewer Rehab - Sea Oats Drive
PU1105
300,000
286,727
13,273 C
TMDL Upgrade /Construction - WWTP #1
PU1106
5,694,730
2,087,892
3,606,838 1
Replace Equipment - PW Yard Station
PU1108
40,000
17,611
22,389 1
Plant Improvements - Master Plan
PU1109
1,753
0
1,753
TMDL Sludge /Odor Improvements
PU1110
2,659,914
170,858
2,489,056 1
Subtotal 11,182,454 4,700,529 6,481,925
Public Works:
Riverbranch Preserve - Kayak & Canoe Launch
PM0804
268,306
7,319
260,987 1
Howell Park Bridge Replacement
PM1001
20,000
0
20,000 R
Veteran's Park - Flag & Pavilion
PM1006
70,263
69,843
420 C
Dog Park - Hopkins Creek
PM1008
27,800
26,448
1,352 C
Gate at Dutton Island
PM1101
20,000
19,558
442 C
Lighting - Basketball Court
PM1102
11,466
11,465
1 C
Lighting - Security at Community Center
PM1103
1,400
1,392
8 C
Sod - Baseball Field
PM1104
45,534
0
45,534 1
Sod - South End of Soccer Field
PM1105
17,000
13,500
3,500 C
Parking - Paved
PM1106
50,263
0
50,263 R
Water Fountain - Russell Park
PM1107
5,000
0
5,000 X
Veteran's Park - Phase II - Stage
PM1108
43,435
43,434
1 C
Security Camera - Donner Park
PM1109
5,500
4,380
1,120 C
Veteran's Park - Phase II - Memorial Garden
PM1110
8,365
0
8,365 1
Royal Palms Design
PW0808
3,294
3,294
0 D
Royal Palms Stormwater Project
PW0905
507,129
507,131
(2) C
Bulkhead - Ditch @ Cavalla
PW1005
9,472
9,472
0 C
Sidewalk & Curb Replacement
PW1101
25,000
14,734
10,266 1
Drain Line - Atlantic Blvd /East Coast Dr /Ahern St
PW1102
50,000
0
50,000 R
Subtotal
1,189,227
731,970
457,257
Total $12,811,172 $5,749,044 $7,062,128
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
SEPTEMBER 26, 20I 1
City of Atlantic Beach, Fl.
Utility Sales Report
Gallons
Water Plant Production
Gallons
0000
August 2011
Gallons
62,834
August 2010
Revenue
19,787
Total Production
Revenue
Gallons
Actual
Revenue
64,249
Gallons
Actual
Revenue
Water Sales
Accounts
0000
Revenue
Per 1,000 gi
Accounts
0000
Revenue
Per 1,000 gi
Atlantic Beach
37,246
5,289
45,192
$165,634
$3.67
5,613
51,290
$188,442
$3.67
Buccaneer
$8.61
2,432
19,057
$104,165
$5.47
2,447
18,143
$90,770
$5.00
Total Water Sales
7,721
64,249
$269,799
$4.20
8,060
69,433
$279,212
$4.02
Gallons
Water Plant Production
Gallons
0000
Atlantic Beach
Gallons
62,834
Buccaneer
Revenue
19,787
Total Production
Revenue
82,621
Total Water Billed
0000
64,249
Water Loss for month:
18,372
Percentage Loss
22.24%
Total 12 mo. Avg. Loss
$250,591
16.88%
Sewer Sales
Atlantic Beach
Buccaneer
Total Sewer Sales
Sewer Treatment
Atlantic Beach
Buccaneer
Total Sewer Treated
Gallons
0000
50,284
18,984
69,268
69,433
-165
- 0.24%
16.72%
Gallons
Gallons
Actual
Revenue
Gallons
Gallons
Actual
Revenue
Accounts
0000
Revenue
Per 1,000 gi
Accounts
0000
Revenue
Per 1,000 gi
47.680
$250,591
$5.26
5,140
34,116
$250,591
$7.35
5,149
37,246
$244,673
$6.57
2,359
19,867
$186,090
$9.37
2,329
19,238
$165,689
$8.61
7.499
53.983
$436,681
$8.09
N 7,478
56,484
$410,362
$7.27
Gallons
Actual
Revenue
Gallons
Actual
Revenue
0000
Revenue
Per 1,000 gI
0000
Revenue
Per 1,000 gi
47.680
$250,591
$5.26
45.533
$244,673
$5.37
19.905
$186,090
$9.35
17.963
$165,689
$9.22
67.585
$436,681
$6.46
63.496
$410,362
$6.46