Item 4A - Financial and Recreation ReportsCity of Atlantic Beach AGENDA ITEM # 4A
FINANCIAL REPORT FEBRUARY 8, 2016
December 2015
Cash Balances
Prior Current Dollar Percent
Fund(s) 11/30/15 12/31/15 Change Change
General $ 6,674,316 $ 9,830,965 $ 3,156,649 47.30%
Tree Replacement 18,955 18,955 0.00%
Convention Development Tax 121,735 113,310 (8,425) -6.92%
Local Option Gas Tax 217,430 241,830 24,400 11.22%
Better Jax 1/2 Cent Sales Tax 480,809 464,661 (16,148) -3.36%
Police Training, Forfeiture, Grants, etc. 128,857 121,775 (7,082) -5.50%
Capital Projects 2,787,621 2,957,432 169,811 6.09%
Utility 5,280,059 5,561,108 281,049 5.32%
Sanitation 417,367 421,674 4,307 1.03%
Building Code Enforcement 417,094 428,991 11,896 2.85%
Storm Water 1,620,298 1,633,866 13,568 0.84%
Pension -Police 95,741 98,591 2,852 0.00%
Pension -General 77,658 65,125 (12,533} -16.14%
Total $ 18,337,941 $ 21,958,283 $ 3,620,343 19.74%
Total Restricted Cash 7,149,685
Total Unrestricted Cash $14,808,598
Cash and Investments
Prior Current Dollar Percent
Account 11/30/15 12/31/15 Change Change
Bank of America -Depository $ 2,537,914 $ 6,188,986 $ 3,651,072 143.86%
Delaware Limited-Term Diversified IncA 2,483,321 2,480,673 (2,649) -0.11%
Global X Gold Explorers ETF 4,169,603 4,163,128 (6,475) -0.16%
lnvesco Floating Rate A 720,146 710,205 (9,942) -1.38%
Voya Short Term Bond Fund Class A 4,162,016 4,150,280 (11 ,736) -0.28%
MSSB Money Market/Cash 4,238,963 4,239,035 72 0.00%
SBA-Florida Prime 22,827 22,827 0.00%
Cash on Hand 3,150 3,150 0.00%
Subtotal $ 18,337,941 $ 21,958,283 $ 3,620,343 19.74%
Police Pension Investments $ 8,887,690 $ 8,829,177 $ (58,513) -0.66%
General Pension Investments 15,781,008 15,622,938 (158,070} -1.00%
Subtotal $ 24,668,699 $ 24,452,115 $ (216,583) -0.88%
Total $ 43,006,639 $ 46,410,399 $ 3,403,759 7.91%
City of Atlantic Beach AGENDA ITEM# 4A
FINANCIAL REPORT FEBRUARY 8, 2016
December 2015
Revenues
Annual YTD YTD Dollar
Fund I (Footnote) Estimate Estimate Actual Variance
General $ 11,762,799 $ 2,940,594 $ 5,540,004 $ 2,599,410
Convention Development Tax 96,307 24,072 34,123 10,051
Local Option Gas Tax 461,611 115,401 119,534 4,133
Better Jax 1/2 Ct Sales Tax 790,128 197,529 188,025 (9,504)
Police Training, Forfeiture & Grants 89,150 22,281 14,253 (8,028)
Grants 650,000 162,498 (162,498)
Capital Projects 855,000 213,744 291,470 77,726
Utility 8,335,711 2,083,887 2,159,570 75,683
Sanitation 1,840,330 460,077 464,092 4,015
Building Code Enforcement 439,134 109,773 114,470 4,697
Storm Water 875,708 218,925 217,533 (1,392)
Pension -Police 1,530,544 382,632 554,743 172,111
Pension -General 2,336,217 584,052 952,278 368,226
Total $ 30,062,639 $ 7,515,465 $ 10,650,095 $ 3,134,630
Analysis of Major Variances
In general, the major variances are created when the actual funds received-to-date are
different from the percentage of the budget elapsed-to-date. Highlighted variance explanations
follow:
General Fund revenues show a net positive variance of $2,599,410. Most of this variance
is due to the timing of receipt of ad valorem taxes, the majority of which are received in
December.
Grant Funds reflected a negative variance of $162,498, Grant revenue is reimbursement
based, revenue will begin being collected in February.
Pension Funds reflected significant, positive variances this month, $172,111 and
$368,226, respectively, from the increased value of investments.
Percent
Variance
88.40%
41.75%
3.58%
-4.81%
-36.03%
-100.00%
36.36%
3.63%
0.87%
4.28%
-0.64%
44.98%
63.05%
41.71%
City of Atlantic Beach AGENDA ITEM# 4A
FINANCIAL REPORT FEBRUARY 8, 2016
December 2015
Expenses
Annual YTD YTD Dollar
Department Estimate Estimate Actual Variance
Governing Body $ 40,384 $ 10,086 $ 9,675 $ 411
City Administration 2,544,554 636,024 601,825 34,199
General Government 587,118 146,727 95,882 50,845
Planning and Building 607,232 151,758 118,370 33,388
Public Safety 9,414,454 2,353,458 1,216,794 1,136,664
Recreation and Special Events 574,568 129,941 87,555 42,386
Public Works 8,491,734 2,122,743 1,220,996 901,747
Public Utilities 10,277,628 2,569,224 2,637,109 (67,885)
Pension -Police 621,607 155,385 154,991 394
Pension -General 986,941 246,726 484,986 (238,260)
Total $ 34,146,220 8,522,072 6,628,183 $1,893,889
Annual YTD YTD Dollar
Resource Allocation Estimate Estimate Actual Variance
Personnel Services $ 10,194,342 $ 2,548,878 $ 2,262,934 $ 285,944
Operating Expenses 11,374,803 2,844,277 2,140,818 703,459
Capital Outlay 8,964,980 2,225,923 276,161 1,949,762
Debt Service 1,964,401 491,088 1,533,550 (1 ,042,462)
Grants and Aids 36,820 9,201 12,000 (2,799)
Transfers 1,610,874 402,705 402,720 (15}
Total $ 34,146,220 $ 8,522,072 $ 6,628,183 $ 1,893,889
Analysis of Major Variances
In general, the major variances are a result of timing differences created between the percentage of budget
elapsed-to-date and actual expenditures. Highlighted variance explanations follow:
Public Safety had a positive variance of $1,136,664. Most of the variance is the result of the Public
Safety Building project-see Project Activity Schedule.
Public Works had a positive variance of $901,747. Most of the variance is the result of project activity
budgeted that has not been started/completed -see Project Activity Schedule.
Pension-General shows a negative $238,260 variance for the period. In October, a large payout of
$207,381.11 was rnade to a former employee's beneficiary.
Operating Expenses had a positive variance of $703,459. The largest part of the variance is made up of
a quarterly payment made to the City of Jacksonville for the Fire Department.
Capital Outlay had a positive variance of $1,949,762. Most of the capital and project expenditures occur
in the middle to latter part of the fiscal year-see Project Activity Schedule.
Debt Service reflects a negative variance of $1 ,042,462; this was the result of the largest Public Utility
debt service payment being rnade in October.
Percent
Variance
4.07%
5.38%
34.65%
22.00%
48.30%
32.62%
42.48%
-2.64%
0.25%
-96.57%
22.22%
Percent
Variance
11.22%
24.73%
87.59%
-212.28%
-30.42%
0.00%
22.22%
City of Atlantic Beach AGENDA ITEM# 4A
FINANCIAL REPORT FEBRUARY 8, 2016
December 2015
Project Activity-Current Year Activity Only
Project YTD YTD
Project Name Number Budget Actual Encumbrances Balance Status
Public Safety:
NEW POLICE BLDG-DESICONST PS1501 3,026,667 7,590 126,377 2,892,700
$ 3,026,667 $ 7,590 $ 126,377 $ 2,892,700
Public Utilities:
INLINE VALVE INSTALLATION PU1404 16,355 16,253 102 D
EFFLUENT OUTFALL REPLCMT PU1408 2,625 2,625 I
WELL LOGGING-6 WELLS PU1501 130,000 130,000 s
UPDATE MODELS PU1502 23,442 3,020 20,422 I
EFF OUTFALL@ SHERMAN PT PU1504 320,000 320,000 I
WETWLL LINE-MIM COVE LS PU1505 13,954 13,954 (0) I
WETWELL LINE-FAIRWAY V LS PU1506 14,141 14,141 0 I
NORTH FENCE REPLACE WTP2 PU1601 10,000 10,000 E
SOFT STARTS -WTP1, 2 &3 PU1602 48,000 1,840 46,160 A
CHLORINE AUTO CONTROL VAL PU1603 31,000 1,189 29,811 A
CONTROL BUBBLER SYSTEM PU1604 15,000 574 14,426 A
REPLACE SEASPRAY H20 SERV PU1605 100,000 100,000 A
ATLANTIC WATER MAIN REPLA PU1606 100,000 100,000 E
SEWER SYSTEM REHAB SEAOAT PU1607 200,000 200,000 E
CONTROL PANEL LIFT STA WW PU1608 19,000 727 18,273 A
SOFTSTARTS LIFT ST. ABC&D PU1609 55,000 2,109 52,891 A
2 POINT REP. EFF GRAV ICW PU1610 30,000 30,000 E
PHORPHOROUS TREATMENT FAG PU1611 225,000 24,833 200,167 I
REPLACE DISKS KRUGER DISF PU1612 6,000 6,000 A
INFLUENT SCREENS (2) PU1613 20,000 768 19,232 A
REPLACE EFF PUMP #2 PU1614 50,000 1,916 48,084 A
REPLACE RAS PUMP & MOTOR PU1615 50,000 1,915 48,085 A
REPLAC INFLUENT PUMP WWTP PU1616 22,000 842 21,158 A
Subtotal $ 1,501,517 $ 3,020 $ 104,108 $ 1,394,389
Parks Maintenance:
RUSSELL PK RENOVATION PM1501 233,180 34,074 23,894 175,212 I
DONNER PK PLAYGRND LIGHTS PM1503 6,500 6,146 354 E
BULL PK PLAYGRND EQUIPMT PM1504 35,000 5,300 29,700 I
DUTTON ISLE RD IMPROVMENT PM1505 25,000 24,620 380 E
Subtotal $ 299,680 $ 40,220 $ 53,814 $ 205,646
Public Works:
SAL TAIRISTURDIVAN SIDEWLK PW1406 32,090 2,080 2 30,008 I
SEMINOLE STREET SCAPE PW1407 976,974 25,614 1,359 950,001 D
Marsh Project Ped Path PW1408 56,504 7,378 49,126 1 I
SAL TAIR DRAINAGE UPGRADE PW1411 61,707 4,000 (2) 57,709 I
SE SEMINOLE RD DRAIN IMPR PW1412 650,000 650,000 D
BIKE RACKS & STREET LIGHT PW1501 6,789 6,789 I
FRANCIS AVE DRAINAGE IMPR PW1502 650,000 650,000 I
CH PARK LOT LIGHTS-LAST PW1504 9,554 9,554 (0) I
TOWNCENTER IMPR DECK & BR PW1601 40,000 40,000 E
VET PARK PLAYSET PW1602 40,000 40,000 E
Subtotal $2,523,618 $ 55,415 $ 50,485 $ 2,417,718
Total $ 7,351,482 $ 106,245 $ 334,784 $ 6,910,453
Status Key
A -BidfRFP Advertised I -Project In-progress
B -Bid Awarded N -CompletefNon-Capital
C -Project Completed R-Re-budget Next Fiscal Year OR Re-Evaluated
D -Design Completed S -Staff Researching
DE -Deferred X -Project Cancelled
E -Design Phase
Recreation Pr o gram s Sp ecial Ev e n ts
Ci t y Commissi on Re p ort
Decembe r 2015
#of
regis trations/ #of II of participants/
applications occurrences a ttende es
Feature d Events i n December Holiday Ce l eb ra t ion & Tree Lig hting, Flag
Foot ba ll p layoffs, Artisans' Fa ire, To y Drive
Time Facility Renta l s
eddlngs o n bea ch or parks
Pavilions & Parks
Ca mping Dutton
Beach handi ca p cha ir __
Ot h er -Vet Park, Sk, N a~re day, etc
Party · Block Party, Party in the pa rk
Fires on t he beach
Donner Aft e r Sch ool Program
ordan After Schoo l Program
~n iors @ t h e Bak e r Ce nter
Songwriters' Concert
Zumba @Jordan Park (4)
Tree
~how/R e ce p t ion
oking Cl ass @Jorda n Park
1-----------1 Flag £_oo tba ll
ABET · Children's Perform ances
City Con t r act Progr ams ABET Pe rformances
Tennis-Beaches Te nnis
Upcoming Events & Programs
In January
AGE NDA ITEM # 4A
F E BRUARY 8 , 20 16
II of s taff/ vol,
committee
atte nded