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Agenda Item 4ANIT�IV Lt1 . i i:iv. m -r� L ---- SEPTEMBER 24, 2012 N N — N W 2 — — — — — — a) ti as Z p O} r co 0 ti M C C*4 r0 r LL U � 0. 0. J Q W W W N Z N Z ~O 0) > , W r O J -� Z N ~Op co O Q N WZ0: W = ?pJJ WN O W cc N co m W a 2 N d Z N M O O O O O O O O O O O O W O O O 00 O O O O O O O O N O O O O O O O O O O A `i tt� IgfAM p 1� 1p N p O J O C O O O N N O OwtG 'R O O O LA 1�O It O N Jr.. O M eei CO Q M N O N r at O C4O r N 00 co Cl) M N (1) O W!1'r NM N 00 d st N LO V 0 Z O N It- N N N� 61). r V p 40 LL H 04 0 Z O = O U Q a I .. Z 6& 69. ° o ° o W 0 ° o O r o 00, = �- O CV o O O ad N O 0 Q o 0 M n 00 O h W Z Z Z r t0 0 via 0 Z O vI O y r0 N N Cl) r- NO'! r N ~ � G p r / iii O N iii��� W O O O O O 0 0 0 0 00 0 0 0 0 0 0 0 0 0 Lq 0 O 0 0 0 0 0 0 0 0 0 0 0 0 O Lq O 0 O M Q = Q LL h V) h 0 O h ' �i'0000Mh0AM00 P. 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NQ wx J W JO w w J p p W — ~ mU 2 2 2 IL O o m p J Q w U S W J z J t�a.22x o Z y WUU Oz2?mUzzz p >J-O w W p l!J Z a v�p�UO p W 1-- F v�z�UUUO,w22a.m�paaoav�ILp�:vaa W W O O O W J w W J o— w W W U W v5 w 0 City of Atlantic Beach AGENDA ITEM # 4A FINANCIAL REPORT SEPTEMBER 24, 2012 AUGUST 2012 Cash Balances Prior Current Dollar Fund(s) 07131112 08131112 Change General $6,382,916 $6,204,913 ($178,002) Tree Replacement 3,509 6,493 2,984 Convention Development Tax 22,849 35,174 12,325 Local Option Gas Tax 314,826 36,167 (278,660) Better Jax 1/2 Cent Sales Tax 90,320 94,164 3,844 Police Training, Forfeiture, Grants, etc. 156,179 143,028 (13,151) Community Development Block & ARRA Grants (105,992) (267,248) (161,257) Debt Service 62,115 68,174 6,059 Capital Projects 2,642,151 2,688,286 46,134 Utility 6,350,834 6,250,852 (99,982) Sanitation 685,716 686,537 820 Building Code Enforcement 53,334 62,028 8,694 Storm Water 1,282,804 1,324,882 42,078 Pension - Police 20,293 31,669 11,376 Pension - General 281,067 17,075 (263,992) Investments - Unallocated Gains (Losses) 246,099 303,945 57,846 Total $18,489,020 $17,686,139 ($802,881) 1,000,527 163 0.19% Total Restricted Cash MSSB Money Market/Cash $8,097,170 9,245 Total Unrestricted Cash 0.00% $9,588,969 SBA - Florida Prime Cash and Investments Prior Current Dollar Rate of Account 07131112 08131112 Change Return Bank of America - Depository $4,853,547 $3,952,673 ($900,874) 0.25% Columbia Limited Duration Fund 2,086,926 2,098,988 12,062 1.56% (1) Delaware Diversified Income Fund 1,673,366 1,676,829 3,463 2.47% (1) Lord Abbett Short Duration Fund 1,638,997 1,647,865 8,868 2.81% (1) Putnam Diversified Income Fund 2,006,316 2,032,084 25,768 5.59% (1) Putnam Income Fund 2,049,922 2,074,726 24,804 2.29%(l) American Century GNMA Fund 1,007,105 1,008,588 1,483 2.39%(1) Alliance Limited Duration High Income Fund 2,159,781 2,181,163 21,382 4.29% (1) Legg Mason WA Cash Reserve Fund 1,000,364 1,000,527 163 0.19% MSSB Money Market/Cash 9,245 9,245 0 0.00% SBA - Florida Prime 300 300 0 0.30% Cash on Hand 3,150 3,150 0 N/A Subtotal 18,489,020 17,686,139 (802,881) Rate of Return Police Pension Investments 6,755,799 6,942,987 187,189 12.02%(2) General Pension Investments 11,909,344 12,439,980 530,635 14.88%(2) Subtotal 18,665,143 19,382,967 717,824 Total $37,154,163 $37,069,106 ($85,057) (1) 30 day SEC Yield as of 08/31/12 (2) Fiscal Year to Date Rate of return as of 08/31/12 City of Atlantic Beach SEPTEMBER 24, 2012 FINANCIAL REPORT AUGUST 2012 Revenues Fund / (Footnote) Annual Estimate YTD - 83% of Estimate YTD Actual Dollar Variance Percent Variance General $10,964,642 $10,054,577 $10,234,733 $180,156 1.79% Convention Development Tax 72,000 66,024 148,289 82,265 124.60% Local Option Gas Tax 472,612 433,385 390,366 (43,019) -9.93% Better Jax 1/2 Ct Sales Tax 646,212 592,576 596,235 3,659 0.62% Police Training, Forfeiture & Grants, etc. 138,796 127,277 156,763 29,486 23.17% Grants 519,658 476,527 377,393 (99,134) - 20.80% Debt Service 71,300 65,382 66,380 998 1.53% Capital Projects (1) 2,266,207 2,078,112 505,078 (1,573,034) - 75.70% Utility (2) 8,368,949 7,674,327 13,024,947 5,350,620 69.72% Sanitation 1,804,500 1,654,727 1,632,212 (22,515) -1.36% Building Code Enforcement 265,900 243,830 251,992 8,162 3.35% Storm Water 972,200 891,507 891,627 120 0.01% Pension - Police (3) 1,232,311 1,130,029 1,409,677 279,648 24.75% Pension - General (3) 2,122,019 1,945,891 2,709,187 763,296 39.23% Total $29,917,306 $27,434,171 $32,394,879 $4,960,708 Analysis of Major Variances (1) The $1,573,034 negative variance in the Capital Projects Funds resulted from not having received the proceeds from the proposed loan for the new Public Safety building. If the loan was not included in this calculation, the variance would be a positive 7.9 %. (2) The $5,350,620 positive variance in the Utility Funds resulted from receiving proceeds from the State Revolving Fund Loan for the sewer plant improvements. If the loan was not included in this calculation, the variance would be a positive 1.2 %. (3) The $279,648 positive variance in the Police Employee Pension Fund & the $763,296 positive variance in the General Employee Pension Fund resulted from changes in market values of the investments. City of Atlantic Beach FINANCIAL REPORT AUGUST 2012 AGENDA ITEM # 4A SEPTEMBER 24, 2012 Expenses Department / (Footnote) Governing Body City Administration General Government Planning and Building Public Safety (1) & (4) Recreation and Special Events Public Works (2) & (4) Public Utilities (3) & (4) Pension - Police Pension - General Total Annual Estimate YTD - 83% of Estimate YTD Actual Dollar Variance Percent Variance $41,986 $38,501 $38,077 $424 1.10% 2,656,087 2,435,632 2,152,877 282,755 11.61% 806,364 739,436 616,230 123,206 16.66% 550,867 505,145 373,426 131,719 26.08% 10,112,138 9,272,831 4,791,297 4,481,534 48.33% 394,207 361,488 356,926 4,562 1.26% 6,124,266 5,615,950 5,085,872 530,078 9.44% 14,418,298 13,221,580 12,326,116 895,464 6.77% 587,832 539,042 611,880 (72,838) -13.51% 740,710 679,231 700,604 (21,373) -3.15% $36,432,755 $33,408,836 $27,053,305 $6,355,531 Resource Allocation Personnel Services (4) Operating Expenses (2) & (4) Capital Outlay (1) & (2) Debt Service (3) Transfers Total Annual Estimate YTD - 83% of Estimate YTD Actual Dollar Variance Percent Variance $9,810,465 $8,996,196 $8,393,409 $602,787 6.70% 10,584,205 9,705,716 8,914,017 791,699 8.16% 12,072,296 11,070,296 6,425,293 4,645,003 41.96% 2,297,807 2,107,089 1,790,776 316,313 15.01% 1,667,982 1,529,539 1,529,810 (271) -0.02% $36,432,755 $33,408,836 $27,053,305 $6,355,531 Analysis of Major Variances (1) The positive variance in the Public Safety divisions resulted from the deferral of the budgeted expenditures on the Police Building — see Project Activity Schedule. The variance without the budget for the Police Building is a positive 7.9 %. (2) The positive variance in the Public Works divisions resulted from: only 10 of the 11 payments being paid on the 1 St Vehicles & Advanced Disposal Services contracts, 54.9% expended fiscal year to date on the Stormwater Contractual Services & 39.7% expended fiscal year to date on projects - see Project Activity Schedule. (3) The positive variance in the Public Utilities divisions resulted from delaying the payments to the State Revolving Fund loans until fiscal year 2013. (4) The positive variance in the Personnel Services resulted from vacant positions that have not been filled or have been filled with employees at a lesser wage & benefits. The vacancies &/or replacements include the following departments: Public Works, Painters, City Manager, Planning & Development, Police, Public Utilities, Finance, Human Resources, Building, Code Enforcement & Lifeguards. The Lifeguards are typically seasonal employees working May through September. City of Atlantic Beach FINANCIAL REPORT AUGUST 2012 Project Activity - Current Year Activity Only AGENDA ITEM # 4A SEPTEMBER 24, 2012 Project Name Project Number Budget YTD Actual YTD Balance Status Public Safety Retrofit HVAC Systems GG1201 223,945 223,419 526 C Lifeguard Building Roof Replacement LG0901 4,750 4,750 0 C Police Building Renovation /Design /Construction PS0504 4,432,582 14,814 4,417,768 DE 4,661,277 242,983 4,418,294 Public Utilities: TMDL - Lift Station /Main Transfer Flow PU0906 72,810 61,642 11,168 1 Donner Subdivision Sewer Rehabilitation PU 1015 175,590 173,813 1,777 C Replace 2" Water Main - 11th Street PU1104 57,402 57,403 (1) C TMDL Upgrade /Construction - WWTP #1 PU1106 3,218,851 3,010,789 208,062 1 TMDL Sludge /Odor Improvements PU1110 2,392,785 2,098,952 293,833 1 Elevated Tank #1 - Internal Rehabilitation PU1201 0 0 0 R Ground Storage Tank WP #2 - Interior Rehabilitation PU1202 0 0 0 R Ground Storage Tanks WP #3 - Recoat Interior PU1203 0 0 0 X Water Main - 12th Street at Ocean Blvd /Beach Ave PU1204 60,000 8,456 51,544 1 Water Main - 14th & 15th Street at Ocean Boulevard PU1205 294,302 8,363 285,939 1 Sewer Rehabilitation - Area B PU1206 380,000 365,036 14,964 C Water Plant #1 - New Concrete Vault PU1207 10,731 10,730 1 C Subtotal 6,662,471 5,795,184 867,287 Public Works: Riverbranch Preserve - Kayak & Canoe Launch PM0804 16,113 14,906 1,207 C Parking Improvements - Donner Park PM 1106 115,901 75,827 40,074 1 Veteran's Park - Phase II - Memorial Garden PM1110 13,102 3,577 9,525 D Howell Park Bridge Replacement PM 1201 0 0 0 X Bull Park Playground Equipment Replacement PM 1202 40,000 0 40,000 Sidewalk & Curb Replacement PW1101 5,406 0 5,406 N Sidewalk & Curb Replacement PW1201 11,711 3,555 8,156 C East Coast Drive Drainage Improvements PW1202 50,000 0 50,000 Subtotal 252,233 97,865 154,368 Total $11,575,981 $6,136,032 $5,439,949 Status Key A - Bid Advertised E - Design Phase B - Bid Awarded I - Project In- progress C - Project Completed N - Complete /Non - Capital D - Design Completed R - Re- budget Next Fiscal Year DE - Deferred X - Project Cancelled AGENDA ITEM # 4A SEPTEMBER 24, 2012 City of Atlantic Beach, Fl. Utility Sales Report INNER, Aug 2012 Aug 2 011 .�--'r ..'��... -, , r` r __��`�"' w:-- - �r.r _.w.,r,,...,. ?,�,_,,'�„rx "'»,- ";�V*�..= ^•'r_- . -�., '�.�,7...� ,.r �- _,;. -w.. .-, r- ._..�r�. -<�. r . ,,. -.,. ,,.1 0 ON Gallons Actual Revenue Gallons Actual Revenue Water Sales Accounts 0000 Revenue Per 1,000 gi Accounts 0000 Revenue Per 1,000 g1 1 Atlantic Beach 5,615 46,041 $169,430 $3.68 1 5,289 45,192 $165,634 $367 Buccaneer 2,456 19,406 $96,451 $4.97 2,432 19,057 $104,165 $5.47 Total Water Sales 8,071 65,447 $265,882 $4.06 7,721 64,249 $269,799 $4.20 Gallons Gallons Water Plant Production 0000 0000 Pall Atlantic Beach 48,331 62,834 H, Buccaneer 19,528 19,787 Total Production 67,859 82,621 Total Water Billed 65,447 64,249 ON O Water Loss for month: 2,412 18,372 IF � r Percentage Loss 3.55% 22.24% K Y Total 12 mo. Avg. Loss 15.76% 16.88% c � Gallons Actual Revenue Gallons Actual Revenue Sewer Sales Accounts 0000 Revenue Per 1,000 gi Accounts 0000 Revenue Per 1,000 gl Atlantic Beach 5,196 35,331 $257,427 $7.29 5,140 34,116 $250,591 $7.35 Buccaneer 2,349 20,656 $187,524 $9.08 2,359 19,867 $186,090 $9.37 Total Sewer Sales 7,545 55,987 $444,951 $7.95 7,499 53,983 $436,681 $8.09 Gallons Actual Revenue ® Gallons Actual Revenue I Sewer Treatment 0000 Revenue Per 1 ,000 gI 0000 Revenue Per 1,000 gl Atlantic Beach 66.885 $257,427 $3.85 47.680 $250,591 $5.26 Buccaneer 12.967 $187,524 $14.46 19.905 $186,090 $9.35 Total Sewer Treated 79.852 $444,951 $5.57 67.58 $436,681 $6.46