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Agenda Item 4ACity of Atlantic Beach FINANCIAL REPORT NOVEMBER 2011 AGENDA ITEM # 4A JANUARY 9, 2012 Cash Balances Prior Current Dollar Fund(s) 10/31/11 11/30/11 Change General $5,085,407 $5,705,526 $620,119 Tree Replacement 3,509 3,509 0 Convention Development Tax (13,880) (52,230) (38,350) Local Option Gas Tax 93,290 118,638 25,348 Better Jax 1/2 Cent Sales Tax 153,619 151,952 (1,667) Police Training, Forfeiture, Grants, etc. 162,547 154,826 (7,721) Community Development Block & ARRA Grants (6,318) (15,213) (8,895) Debt Service 78,851 85,212 6,361 Capital Projects 2,252,997 2,306,676 53,679 Utility 4,306,688 4,065,036 (241,652) Sanitation 669,870 674,081 4,211 Building Code Enforcement 40,338 37,116 (3,222) Storm Water 1,039,838 1,048,122 8,284 Pension - Police 28,322 32,370 4,048 Pension - General 56,746 103,173 46,427 Investments - Unallocated Gains (Losses) (236) (165,315) (165,079) Total $13,951,588 $14,253,479 $301,891 N/A Subtotal 13,951,588 Total Restricted Cash 301,891 $7,628,612 Total Unrestricted Cash $6,624,867 Total $31,702,881 $31,875,331 $172,450 (1) 30 day SEC Yield as of 11/30/11 (2) Rate of return as of 11/30/11 Cash and Investments Prior Current Dollar Interest Account 10/31/11 11/30/11 Change Rate Bank of America - Depository $3,740,152 $4,139,890 $399,738 0.250% Pimco GNMA Fund 1,074,697 1,076,485 1,788 1.580%(l) Putnam US Government Income Fund 1,069,971 1,059,444 (10,527) 3.080%(l) Eaton Vance Government Obligation Fund 2,009,887 2,004,956 (4,931) 2.470%(l) Loomis Sayles Limited Term Government & Agency Fund 1,001,853 1,002,813 960 1.560%(1) Delaware Corporate Bond Fund 2,020,236 1,987,223 (33,013) 4.190% (1) Loomis Sayles Investment Grade Bond Fund 1,010,586 986,721 (23,865) 3.730%(l) Lord Abbett Income Fund 2,020,979 1,986,298 (34,681) 4.610%(1) MorganStanley SmithBarney AA Money Trust 0 6,422 6,422 0.010% SBA - Florida Prime 277 277 0 0.260% Cash on Hand 2,950 2,950 0 N/A Subtotal 13,951,588 14,253,479 301,891 Rate of Return Police Pension Investments 6,498,294 6,466,870 (31,424) -0.48%(2) General Pension Investments 11,252,999 11,154,982 (98,017) -0.87%(2) Subtotal 17,751,293 17,621,852 (129,441) Total $31,702,881 $31,875,331 $172,450 (1) 30 day SEC Yield as of 11/30/11 (2) Rate of return as of 11/30/11 AGENDA ITEM # 4A City of Atlantic Beach JANUARY 9, 2012 FINANCIAL REPORT NOVEMBER 2011 Revenues Fund / (Footnote) Annual Estimate YTD -16.7% of Estimate YTD Actual Dollar Variance Percent Variance General (1) $10,964,642 $1,831,095 $2,094,171 $263,076 14.37% Convention Development Tax 72,000 12,024 6,655 (5,369) - 44.65% Local Option Gas Tax 472,612 78,926 77,442 (1,484) -1.88% Better Jax 1/2 Ct Sales Tax 646,212 107,917 106,524 (1,393) -1.29% Police Training, Forfeiture & Grants, etc. 134,974 22,542 44,992 22,450 99.59% Grants 318,214 53,141 44,789 (8,352) - 15.72% Debt Service 71,300 11,907 12,627 720 6.05% Capital Projects (2) 2,255,737 376,708 105,349 (271,359) - 72.03% Utility (3) 8,368,949 1,397,615 1,669,803 272,188 19.48% Sanitation 1,804,500 301,352 297,765 (3,587) -1.19% Building Code Enforcement 265,900 44,405 29,064 (15,341) - 34.55% Storm Water 972,200 162,357 161,528 (829) -0.51% Pension - Police (4) 1,232,311 205,796 427,733 221,937 107.84% Pension - General (4) 2,122,019 354,377 931,902 577,525 162.97% Total $29,701,570 $4,960,162 $6,010,344 $1,050,182 Analysis of Major Variances (1) The $263,076 positive variance in the General Fund resulted from having received 18.9% of the budgeted property taxes & 28.2% of the budgeted franchise fees. Typically the majority of the property taxes are received from the City of Jacksonville in December & January. The franchise fees include receipts for August & September, 2011 & the true - up for fiscal year 2011. (2) The $271,359 negative variance in the Capital Projects Funds resulted from not having received the proceeds from a Loan. If the loan was not included in this calculation, the variance would be a positive 5.8 %. (3) The $272,188 positive variance in the Utility Funds resulted from receiving proceeds from the State Revolving Fund Loan. If the loan was not included in this calculation, the variance would be a positive 8 %. (4) The $221,937 positive variance in the Police Employee Pension Fund & the $577,525 positive variance in the General Employee Pension Fund resulted from changes in market values of the investments. City of Atlantic Beach AGENDA ITEM # 4A FINANCIAL REPORT JANUARY 9, 2012 NOVEMBER 2011 Expenses Analysis of Major Variances (1) The positive variance in the Public Safety divisions resulted from no expenditures fiscal year to date on the Police Building - see Project Activity Schedule. The variance without the budget for the Police Building is 17.6 %. (2) The negative variance in the Public Utilities department resulted from the October payment of principal and interest on the Utility Revenue Bonds and the State Revolving Fund Loan. The variance without the monies expended for Debt Service is .63 %. (3) The positive variance in the Personal Services is typical for the first few months of the new fiscal year due to the payroll expense only including two weeks of the month of October. The last 2 weeks of October were paid in the first week of November. This explains why approximately 28% of the budgeted payroll has not been expensed. Also, a few vacant positions have not been filled. Annual YTD -16.7% YTD Dollar Percent Department / (Footnote) Estimate of Estimate Actual Variance Variance Governing Body $41,986 $7,012 $6,484 $528 7.53% City Administration 2,673,887 446,539 364,234 82,305 18.43% General Government 765,368 127,817 142,745 (14,928) - 11.68% Planning and Building 478,867 79,971 70,813 9,158 11.45% Public Safety (1) 10,054,574 1,679,114 643,432 1,035,682 61.68% Recreation and Special Events 394,207 65,833 87,259 (21,426) - 32.55% Public Works 5,976,228 998,032 998,171 (139) -0.01% Public Utilities (2) 14,301,191 2,388,299 2,607,970 (219,671) -9.20% Pension - Police 587,832 98,168 105,944 (7,776) -7.92% Pension - General 740,710 123,699 122,710 989 0.80% Total $36,014,850 $6,014,484 $5,149,762 $864,722 Annual YTD -16.7% YTD Dollar Percent Resource Allocation Estimate of Estimate Actual Variance Variance Personal Services (3) $9,872,555 $1,648,719 $1,190,305 $458,414 27.80% Operating Expenses 10,384,222 1,734,165 1,801,147 (66,982) -3.86% Capital Outlay (1) 11,802,218 1,970,972 613,334 1,357,638 68.88% Debt Service (2) 2,297,807 383,734 1,268,636 (884,902) - 230.60% Transfers 1,658,048 276,894 276,340 554 0.20% Total $36,014,850 $6,014,484 $5,149,762 $864,722 Analysis of Major Variances (1) The positive variance in the Public Safety divisions resulted from no expenditures fiscal year to date on the Police Building - see Project Activity Schedule. The variance without the budget for the Police Building is 17.6 %. (2) The negative variance in the Public Utilities department resulted from the October payment of principal and interest on the Utility Revenue Bonds and the State Revolving Fund Loan. The variance without the monies expended for Debt Service is .63 %. (3) The positive variance in the Personal Services is typical for the first few months of the new fiscal year due to the payroll expense only including two weeks of the month of October. The last 2 weeks of October were paid in the first week of November. This explains why approximately 28% of the budgeted payroll has not been expensed. Also, a few vacant positions have not been filled. City of Atlantic Beach FINANCIAL REPORT NOVEMBER 2011 Project Activity - Current Year Activit Only AGENDA ITEM # 4A JANUARY 9, 20I2 Project Name Project Number Budget YTD Actual YTD Balance Status Public Safety Retrofit HVAC Systems GG1201 190,414 0 190,414 Lifeguard Building Roof Replacement LG0901 4,750 0 4,750 Police Building Renovation /Design /Construction PS0504 4,432,582 0 4,432,582 1 Bull Park Playground Equipment Replacement PM1202 4,627,746 0 4,627,746 Public Utilities: PW1101 5,406 5,406 0 TMDL - Lift Station /Main Transfer Flow PU0906 72,810 5,157 67,653 1 Donner Subdivision Sewer Rehabilitation PU1015 175,590 0 175,590 Replace 2" Water Main - 11th Street PU1104 61,283 43,355 17,928 1 TMDL Upgrade /Construction - WWTP #1 PU1106 3,218,851 376,864 2,841,987 1 TMDL Sludge /Odor Improvements PU1110 2,392,784 85,477 2,307,307 1 Elevated Tank #1 - Internal Rehabilitation PU1201 40,000 0 40,000 Ground Storage Tank WP #2 - Interior Rehabilitation PU1202 40,000 0 40,000 Ground Storage Tanks WP #3 - Recoat Interior PU1203 60,000 0 60,000 Water Main - 12th Street at Ocean Blvd /Beach Ave PU1204 60,000 0 60,000 Water Main - 14th & 15th Street at Ocean Boulevard PU1205 140,000 0 140,000 Sewer Rehabilitation - Area B PU1206 300,000 0 300,000 Subtotal 6,561,318 510,853 6,050,465 Public Works: Riverbranch Preserve - Kayak & Canoe Launch PM0804 16,113 14,906 1,207 Veteran's Park - Phase II - Memorial Garden PM1110 2,632 0 2,632 Howell Park Bridge Replacement PM1201 25,000 0 25,000 Bull Park Playground Equipment Replacement PM1202 40,000 0 40,000 Sidewalk & Curb Replacement PW1101 5,406 5,406 0 Sidewalk & Curb Replacement PW1201 25,000 1,790 23,210 East Coast Drive Drainage Improvements PW1202 50,000 0 50,000 Subtotal 164,151 22,102 142,049 Total $11,353,215 $532,955 $10,820,260 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 C I AGENDA ITEM # 4A JANUARY 9, 2012 w b O c U O O lj 4w O MI O � •� �+ a 3^o ca � O O O U� o� `'•" a� -,Z) c q p v v O O y 0 W ' 3 a ° O v O • O a> � O ti b ° d cd W N O x R. > OQ, 0 v� > z • O� p Z to 0 0 ci O O ci a O U U �a z -b A O Ov O r-. a �H z z d° ACA 3 �F a r V r r. 1 ° oU an) = . -Q Q) Q r a ° W °'° C)= w U - ,z °' a 'ti o a °� o C a . .. w b cd o ° U w U II o II a I� 1 t o z U C: 6 ti II HS aac7 a ,-, a O U Quu C) u u � a z \ o Ln cd W 0 A O :: � 4O • O p � U �r c a O F. 4 w u. U 5 V O `d O y O O O 4 U w II cn cd to cio O O V O V u. O y 0 b O CIS O o y t. O L 6) O p -� �+ •�. O z Q cd 0 '� cd '� O 11" w O a '� c� v�u �' O w H ��� II II v1 O V] 0 O � U 1 3 O O a a Hw gU QgU wqU W4 Q C •-� N M � � � u , G AGENDA ITEM # 4A JANUARY 9,2012 2 � 0 � ( � � o § � t 2 7 g a § E S 2 k \ ® q C . § ■ " 2 � § q — \ S § § 7 £ � 4 $ t .■ 2 w § § 0 / U U Q U a Poo W E A7 w� v 0 /_ k k / 0 V. / 0 /2 U Q § % � § 7 w / 0 \ 7 z § q a ! ƒ \ \ Quu u 2 � \ q ,/ ƒ 0 % 2 4 / © / ca / ca �� � (— �� ca� \ \ -, ° ®§ m U k w e M ° ® a R u -0 3 G o ƒ } CL W f m 2 k \ ƒ 0 � § i / d "Cl § P § / 2 � w k PREPARED 1/03/12, 8:35:30 LICENSE ACTIVITY REPORT BY BUSINESS NAME City of Atlantic Beach NEW LICENSES FOR YEAR: 2012 BETWEEN: 12/01/11 TO 12/31/11 PROGRAM OL122L DEPT: ALL DEPARTMENTS CLASS: ALL CLASSES ------------------ --------------------------------------------------------------------- LIC # BUSINESS NAME ISSUED TYPE CLASSIFICATION BUS PHONE # BUSINESS ADDRESS ------------------------------------------------------------------- 12- 00007477 A E JANITORIAL 12/13/11 NEW CLEANING /JANITORIAL /MAID SERVICE 904- 554 -0673 900 PLAZA ATLANTIC BEACH FL 32233 12- 00007478 AIA SPECIALTY CONSTRUCTION, LL 12/13/11 NEW MISC. SERVICE ESTABLISHMENT, NOT L904- 866 -8391 1324 BEGONIA ST ATLANTIC BEACH FL 32233 12- 00007476 BEADSBYTHEC 12/06/11 NEW MISC. SERVICE ESTABLISHMENT, NOT L904- 247 -3772 3933RD ST ATLANTIC BEACH FL 32233 12- 00007473 BLUE RIBBON COURTESIES, LLC 2051 VELA NORTE CIR ATLANTIC BEACH FL 32233 12- 00007479 CANTRELL CONSTRUCTION, INC. 606 DAVID ST ATLANTIC BEACH FL 32233 12- 00007480 CANTRELL CONSTRUCTION, INC. 606 DAVID ST ATLANTIC BEACH FL 32233 12- 00007474 MSHACK 299 ATLANTIC BLVD ATLANTIC BEACH FL 32233 12- 00007481 NANCY C HARRISON, ESQ.,P.L. 599 ATLANTIC BLVD UNIT 05 ATLANTIC BEACH FL 32233 12- 00007482 NANCY C HARRISON, ESQ.,P.L. 599 ATLANTIC BLVD UNIT 05 ATLANTIC BEACH FL 32233 GRAND TOTALS -------- - - - - -- NEW LICENSES ---- --- - ----- AC: 9 PP: 0 IN: 0 VO: 0 PG: 0 BR: 0 OB: 0 UC: 0 LIC: 9 12/06/11 NEW MISC. SERVICE ESTABLISHMENT, NOT L727 -834 -1223 12/19/11 NEW GENERAL CONTRACTOR 904 - 545 -1428 12/19/11 NEW GENERAL CONTRACTOR (FIRM /CORP.) 904 - 545 -1428 12/06/11 NEW RESTAURANTS(INC. SNACK BARS & TAKE O 904 - 241 - 2599 12/28/11 NEW ATTORNEY FIRM /CORPORATION 12/28/11 NEW ATTORNEY 904 - 372 -0008 904 - 372 -0008 AGENDA ITEM it 4A JANUARY 9, 2012