Item 4A~•
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2006
AGENDA ITEM #4A
FEBRUARY 27, 2006
Cash Balances
General $5,712,916 $6,340,274 $627,358
Tree Replacement 30,978 30,978 0
Convention Development Tax 152,575 158,716 6,141
Local Option Gas Tax 386,221 403,514 17,293
Better Jax 1/2 Cent Sales Tax 964,913 1,022,488 57,575
Police Training, Forfeit, etc. 12,281 5,224 (7,057)
Grants (34,507) (20,553) 13,954
Debt Service 32,938 38,896 5,958
Utility 3,391,987 3,568,930 176,943
Sanitation 551,550 544,741 (6,809)
Storm Water 2,951,569 2,971,542 19,973
Pension -Police (5,996) 19,609 25,605
Pension -General 78,361 5,147 (73,214)
Total $14,225,786 $15,089,506 $863,720
Prior Current Dollar
Fund(s) 12/31/05 1/31/06 Change
Total Restricted Cash $6,312,907
Total Unrestricted Cash $8,776,599
Cash and Investments
Account
Prior
12/31 /05
Current
1 /31 /06
Dollar Rate of
Change Return
Bank of America -Depository $254,715 $110,200 ($144,515) 3.20
SBA 13,968,521 14,976,756 1,008,235 4.37
Cash on Hand 2,550 2,550 0 -
Subtotal 14,225,786 15,089,506 863,720
Suntrust-Pension-Police 4,294,503 4,313,077 18,574 2.00 (1)
Merrill Lynch-Pension-Police 552,918 586,278 33,360 7.10 (1)
Suntrust-Pension-General 5,812,353 5,975,194 162,841 1.90 (1)
Merrill Lynch-Pension-General 1,173,222 1,244,011 70,789 7.10 (1)
Subtotal 11,832,996 12,118,560 285,564
Total $26,058,782 $27,208,066 $1,149,284
(1) FYTD rate of return through 12/31/05
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City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2006
Revenues
AGENDA ITEM #4A
FEBRUARY 27, 2006
Annual YTD - 33% YTD Dollar Percent
Fund ! (Footnote) Estimate of Estimate Actual Variance Variance
General (1) $9,951,978 $3,314,009 $5,237,184 $1,923,175 58.03%
Tree Replacement 0 0 0 0 100.00%
Convention Development Tax 128,000 42,624 27,351 (15,273) -35.83%
Local Option Gas Tax 564,042 187,826 186,500 (1,326) -0.71
Better Jax 1/2 Ct Sales Tax 702,336 233,878 244,843 10,965 4.69%
Police Training, Forfeit, etc. 31,800 10,589 4,880 (5,709) -53.91%
Grants (2) 447,833 149,128 69,776 (79,352) -53.21%
Debt Service 71,100 23,676 24,135 459 1.94%
Utility 6,623,534 2,205,636 2,137,484 (68,152) -3.09%
Sanitation 1,362,300 453,646 435,564 (18,082) -3.99%
Storm Water (3) 1,067,868 355,600 248,191 (107,409) -30.21
Pension -Police 702,355 233,884 293,518 59,634 25.50%
Pension -General (4) 1,015,029 338,005 515,987 177,982 52.66%
Total $22,668,175 $7,548,501 $9,425,413 $1,876,912
Analysis of Major Variances
(1) The $1,923,175 positive variance in the General Fund resulted from having received
84.5% of the year's budgeted property taxes by January, 2006. Typically the majority of
these taxes are received from the City of Jacksonville in December & January.
(2) The $79,352 negative variance in the Grant Funds resulted from either items not having
been purchased or reimbursement requests not having been filed as of January 31,
2006.
(3) The $107,409 negative variance in tho Stormwater Fund resulted from the award of a
grant in fiscal year 2006 that has not been received.
(4) The $177,982 positive variance in the General Employee Pension Fund resulted from
changes in the market values of the investments.
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City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2006
AGENDA ITEM #4A
FEBRUARY 27, 2006
Expenses
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Annual YTD - 33% YTD Dollar Percent
Department / (Footnote) Estimate of Estimate Actual Variance Variance
~.
Governing Body
$45,938
$15,297
$15,705
($408)
-2.67%
Ciry Administration 2,122,737 706,872 632,964 73,908 10.46%
General Government (1) 2,223,615 740,464 553,180 187,284 25.29%
Planning and Building (2) 651,118 216,822 150,772 66,050 30.46%
Public Safety (3) 4,714,649 1,569,977 1,157,024 412,953 26.30%
Parks and Recreation 1,023,072 340,683 299,421 41,262 12.11%
Public Works (4) 6,230,758 2,074,843 1,349,106 725,737 34.98%
Public Utilities (5) 7,115,581 2,369,489 2,596,589 (227,100) -9.58%
Pension -Police 400,936 133,512 124,676 8,836 6.62%
Pension -General 405,798 135,131 119,590 15,541 11.50%
1'"" Total $24,934,202 $8,303,090 $6,999,027 $1,304,063
Annual YTD - 33% YTD Dollar Percent
~" Resource Allocation Estimate of Estimate Actual Variance Variance
Personal Services $7,909,947 $2,634,013 $2,178,612 $455,401 17.29%
Operating Expenses (2) - (4) 9,540,328 3,176,929 2,492,714 684,215 21.54%
~» Capital Outlay (1), (4) & (5) 5,016,614 1,670,532 808,279 862,253 51.62%
Debt Service (5) 1,678,236 558,853 1,256,397 (697,544) -124.82%
Transfers 789,077 262,763 263,025 (262) -0.10%
Total $24,934,202 $8,303,090 $6,999,027 $1,304,063
w.
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 Planning 8 Building departments resulted from no monies
being expended in the Community Development Block Grant as of December 31, 2005.
(3) The positive variance in the Pa:blic Safety departments is due to the police union
contract being approved in January, 2006, however, the retroactive salaries and benefits
will not be paid until February, 2006.
(4) 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.
(5) 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.
'"~ City of Atlantic Beach AGENDA ITEM #4A
FINANCIAL REPORT FEBRUARY 27, 2006
JANUARY 2006
~.
Project Activity -Current Year Activity Only
~,,, Project YTD YTD YTD
Project Name Number Budget Actual Balance Status
General Government:
City Hall Expansion
Parks and Recreation:
Beautification
Public Safety
Police Building Renovations
Homeland Security Items
GG0402 $2,816 $0 $2,816
Subtotal 2,816 0 2,816
PR0601 45,000 0 45,000
Subtotal 45,000 0 45,000
PS0504 475,000 2,570 472,430 D
PS0601 138,000 0 138,000
Subtotal 613,000 2,570 610,430
Public Works:
Plaza Entrance/Post Office
Hopkins Creek Basin Pond
Mayport Road Medians
Welcome Sign and Landscaping
Ocean/13th -Coast Drive/12th
Five Points Intersection Improvement
Sidewalks -New
Plaza Drive Phase 2 Pedestrian Path
Sidewalks -Replacements
Seminole Ditch Headwall
Pathway -Plaza (West of Mayport Road)
Concrete Floor for Shed
Medians Rehab -Atlantic Boulevard
Roll Off Concrete Pads
Sidewalks & Curbs
Paving of City Hall Parking Lot
Pathways
Sidewalks - Sailfish,Royal Palm & Frances
Selva Tierra Ditch Improvements
Pathway -Seminole Road Phase 1
Pathway -Seminole Road Phase 2
Subtotal
Public Utilities:
Security Upgrade/Water Plants
Headwork Improvements at WWTP2
Water Line at 10th Street & Beach Avenue
Mayport Road Sewer Crossing
Fence Replacement at Water Plant 1
Water Main at Sailfish Drive & Plaza
Sewer Crossing Ditch at Palm Landing
Genset at Lift Station B
Clarifier Rehabilitation
Fence Replacement at WWTP 1
Sludge Container Refurbishment
Subtotal
Total
PW0305 55,080 54,687 393
PW0309 1,301,500 0 1,301,500
PW0401 346,858 0 346,858
PW0405 78,000 0 78,000
PW0409 139,116 3,063 136,053
PW0502 346,643 305,416 41,227
PW0503 26,175 0 26,175
PW0504 30,000 106 29,894
PW0505 10,752 5,864 4,888
PW0507 12,974 12,974 0
PW0508 27,144 0 27,144
PW0601 8,800 8,800 0
PW0602 20,000 0 20,000
PW0603 10,000 0 10,000
PW0604 50,000 1,160 48,840
PW0605 84,000 0 84,000
PW0606 149,000 0 149,000
PW0607 90,800 0 90,800
PW0608 25,954 0 25,954
PW0609 63,000 106 62,894
PW0610 55,152 0 55,152
2,930,948 392,176 2,538,772
PU0305 2,485 2,485 0
PU0310 52,027 52,027 0
PU0503 103,070 83,446 19,624
PU0504 50,000 0 50,000
PU0601 70,000 0 70,000
PU0602 60,000 0 60,000
PU0603 30,000 0 30,000
PU0604 44,650 0 44,650
PU0605 100,000 0 100,000
PU0606 15,000 0 15,000
PU0607 15,000 0 15,000
542,232 137,958 404,274
$4,133,996 $532,704 $3,601,292
Status Key
~„ B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-progress
D -Design Completed R - Re-budget Next Fiscal Year
I
E
E
C
C
I