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V W 11 O I V I a•.Ia I H I I ~ ~ ~ ~ ~ a ~ a ~ a ~ ~aH>aa aUa l a 1 0 0 0 0 o aUa I c9 .• City of Atlantic Beach FINANCIAL REPORT NOVEMBER 2005 AGENDA ITEM #4A JANUARY 9, 2006 Cash Balances Prior Current Dollar Fund(s) 10/31/05 11/30/05 Change General $3,837,514 $3,764,806 ($72,708) Tree Replacement 30,978 30,978 0 Convention Development Tax 162,822 163,309 487 ~ Local Option Gas Tax 357,815 367,787 9,972 Better Jax 1/2 Cent Sales Tax 1,005,380 1,028,928 23,548 Police Training, Forfeit, etc. 24,112 23,727 (385) ~"" Grants 42,690 40,314 (2,376) Debt Service 82,155 88,243 6,088 Utility 3,202,915 3,440,648 237,733 ~* Sanitation 568,340 658,577 90,237 Storm Water 2,980,914 2,997,487 16,573 Pension -Police 6,649 (421) - (7,070) ~„ Pension -General 37,764 56,888 19,124 Total $12,340,048 $12,661,271 $321,223 Total Restricted Cash $6,344,618 Total Unrestricted Cash $6,316,653 Cash and Investments Prior Current Dollar Rate of Account 10/31/05 11/30/05 Change Return ~.. Bank of America -Depository $138,741 $172,459 $33,718 3.02 SBA 12,198,757 12,486,262 287,505 3.98 ~„ Cash on Hand 2,550 2,550 0 - Subtotal 12,340,048 12,661,271 321,223 ~"" Suntrust-Pension-Police 4,179,695 4,279,305 99,610 7.50 (1) Merrill Lynch-Pension-Police 501,173 525,836 24,663 28.60 (1) Suntrust-Pension-General 5,657,681 5,791,132 133,451 7.60 (1) ~* Merrill Lynch-Pension-General 1,063,557 1,115,752 52,195 28.60 (1) Subtotal 11,402,106 11,712,025 309,919 Total $23,742,154 $24,373,296 $631,142 (1) FYTD rate of return through 09/30/05 ,~. ~. City of Atlantic Beach FINANCIAL REPORT NOVEMBER 2005 Revenues AGENDA ITEM #4A JANUARY 9, 2006 Annual YTD -16.7% YTD Dollar Percent Fund / (Footnote) Estimate of Estimate Actual Variance Variance General (1) $9,951,978 $1,661,980 $1,168,988 ($492,992) -29.66% Tree Replacement 0 0 0 0 100.00% Convention Development Tax 128,000 21,376 6,944 (14,432) -67.51 Local Option Gas Tax 564,042 94,195 95,042 847 0.90% Better Jax 1/2 Ct Sales Tax 702,336 117,290 128,046 10,756 9.17% Police Training, Forfeit, etc. 31,800 5,311 4,789 (522) -9.83% Grants (2) 447,833 74,788 48,749 (26,039) -34.82% Debt Service 71,100 11,874 12,143 269 2.27% Utility 6,623,534 1,106,130 1,107,639 1,509 0.14% Sanitation 1,362,300 227,504 216,410 (11,094) -4.88% Storm Water (3) 1,067,868 178,334 122,363 (55,971) -31.39% Pension -Police 702,355 117,293 122,783 5,490 4.68% Pension -General (4) 1,015,029 169,510 203,238 33,728 19.90% Total $22,668,175 $3,785,585 $3,237,134 ($548,451) Analysis of Major Variances (1) The $492,992 negative variance in the General Fund resulted from not having received property taxes. Typically these taxes are received from the City of Jacksonville starting in December. (2) The $26,039 negative variance in the Grant Funds resulted from either items not having been purchased or reimbursement requests not having been filed as of November 30, 2005. (3) The $55,971 negative variance in the Stormwater Fund resulted from the award of a grant in fiscal year 2006 that has not been received. (4) The $33,728 positive variance in the General Employee Pension Fund resulted from changes in the market values of the investments. ,.. ~• City of Atlantic Beach FINANCIAL REPORT NOVEMBER 2005 AGENDA ITEM #4A JANUARY 9, 2006 Expenses "~" ~ Annual YTD - 16.7% YTD Dollar Percent Department / (Footnote) Estimate of Estimate Actual Variance Variance Governing Body $45,938 $7,672 $8,516 ($844) -11.00% City Administration 2,122,737 354,497 289,029 65,468 18.47% General Government (1) 2,165,615 361,657 238,281 123,376 34.11% ~.. Planning and Building 591,118 98,717 59,823 38,894 39.40% Public Safety (2) 4,714,649 787,348 458,020 329,328 41.83% Parks and Recreation 1,023,072 170,854 132,270 38,584 22.58% Public Works (3) 6,136,758 1,024,838 704,566 320,272 31.25% ~°" Public Utilities (4) 7,115,581 1,188,302 1,602,502 (414,200) -34.86% Pension -Police .400,936 66,956 68,185 (1,229) -1.84% Pension -General 405,798 67 768 67,422 346 0.51 Total $24,722,202 $4,128,609 $3,628,614 $499,995 Annual YTD - 16.7% YTD Dollar Percent ~'" Resource Allocation Estimate of Estimate Actual Variance Variance Personal Services (5) $7,913,547 $1,321,562 $1,024,716 $296,846 22.46% Operating Expenses (2) & (3) 9,514,916 1,588,992 1,019,322 569,670 35.85% ~" Capital Outlay (1), (2) & (3) 4,827,077 806,122 335,703 470,419 58.36% Debt Service (4) 1,677,585 280,157 1,117,360 (837,203) -298.83% Transfers 789,077 131776 131513 263 0.20% ,~„ Total $24,722,202 $4,128,609 $3,628,614 $499,995 Analysis of Major Variances ~. (1) The positive variance in the General Government departments resulted from not having begun the various projects funded from this source -see Project Activity Schedule. (2) The positive variance in the Public Safety departments is partially due to the payment being due quarterly to the City of Jacksonville for fire & rescue services. The next payment is due in January 2006 for October through December 2005. Also, the police union contract has not been approved as of November 30`h so salaries and benefits are less than the amount budgeted. (3) The positive variance in the Public Works departments resulted from the waste management contract and First Vehicle not having been paid in October 2005 and not having begun various projects funded from this source -see Project Activity Schedule. (4) The negative variance in the Public Utilities department resulted from the October payment of principal and interest on the Utility Revenue Bonds and is partially offset by not having begun various projects funded from this source -see Project Activity Schedule. (5) The positive variance in the Personal Services is related to 43% of the first payroll of October, 2005 being expensed in the prior fiscal year. Also, the union contracts for the police, white collar and blue collar employees has not been approved as of November 30, 2005. ~.. City of Atlantic Beach FINANCIAL REPORT NOVEMBER 2005 AGENDA ITEM #4A JANUARY 9, 2006 Project Activity -Current Year Activity Only Project YTD YTD YTD Project Name Number Budget Actual Balance Status ~„ General Government: City Hall Expansion GG0402 $2,816 $0 $2,816 I Subtotal 2,816 0 2,816 Parks and Recreation: ~ Beautification PR0601 45,000 0 45,000 Subtotal 45,000 0 45,000 ~" Public Safety Police Building Renovations PS0504 475,000 0 475,000 D Homeland Security Items PS0601 138,000 0 138,000 ~. Subtotal 613,000 0 613,000 Public Works: ~„ Plaza Entrance/Post Office PW0305 55,080 54,687 393 I Hopkins Creek Basin Pond PW0309 1,301,500 0 1,301,500 E Mayport Road Medians PW0401 346,858 0 346,858 E Welcome Sign and Landscaping PW0405 78,000 0 78,000 ~ Ocean/13th -Coast Drive/12th PW0409 132,073 2,745 129,328 E Five Points Intersection Improvement PW0502 346,643 123,659 222,984 I Sidewalks -New PW0503 23,795 0 23,795 I ""' Sidewalks -Replacements PW0505 10,752 5,864 4,888 I Seminole Ditch Headwall PW0507 12,974 0 12,974 I Pathway -Plaza (West of Mayport Road) PW0508 24,676 0 24,676 I *"" Concrete Floor for Shed PW0601 8,000 0 8,000 Medians Rehab -Atlantic Boulevard PW0602 20,000 0 20,000 Roll Off Concrete Pads PW0603 10,000 0 10,000 ~,. Sidewalks & Curbs PW0604 50,000 0 50,000 I Paving of City Hall Parking Lot PW0605 84,000 0 84,000 Pathways PW0606 150,000 0 150,000 Sidewalks - Sailfish,Royal Palm & Frances PW0607 90,800 0 90,800 ~ Subtotal 2,745,151 186,955 2,558,196 Public Utilities: 0 Security Upgrade/Water Plants PU0305 2,485 2,485 ~"' Headwork Improvements at WWTP2 PU0310 52,027 0 52,027 Water Line at 10th Street & Beach Avenue PU0503 99,776 31,138 68,638 Mayport Road Sewer Crossing PU0504 50,000 0 50,000 +~ Fence Replacement at Water Plant 1 PU0601 70,000 0 70,000 Water Main at Sailfish Drive & Plaza PU0602 60,000 0 60,000 Sewer Crossing Ditch at Palm Landing PU0603 30,000 0 30,000 Genset at Lift Station B PU0604 44,650 0 44,650 „ Clarifier Rehabilitation PU0605 100,000 0 100,000 Fence Replacement at WWTP 1 PU0606 15,000 0 15,000 Sludge Container Refurbishment PU0607 15,000 0 15,000 ~, Subtotal 538,938 33,623 505,316 Total $3,944,905 $220,578 $3,724,327 ~.. Status Key B -Bid Awarded E -Design Phase C -Project Completed t -Project In-progress ""~ D -Design Completed R - Re-budget Next Fiscal Year