Item 4A- Monthly ReportsAGENDA ITEM 4A
City of Atlantic Beach OCTOBER 10, 2016
FINANCIAL REPORT
August 2016
Cash Balances
Prior Current Dollar Percent
Fund(s) 07/31/16 08/31/16 Change Change
General $ 7,550,158 $ 7,335,614 $ (214,543) -2.84%
Tree Replacement 27,792 34,911 7,119 25.62%
Convention Development Tax 112,006 130,363 18,356 16.39%
Local Option Gas Tax 198,448 223,882 25,433 12.82%
Better Jax 1/2 Cent Sales Tax 612,051 642,163 30,112 4.92%
Police Training, Forfeiture, Grants, etc. 129,703 129,266 {437) -0.34%
Capital Projects 3,360,257 3,087,035 (273,221) -8.13%
Utility 7,003,452 7,391,459 388,007 5.54%
Sanitation 684,554 491,377 (193, 177) -28.22%
Building Code Enforcement 480,734 501,048 20,314 4.23%
Storm Water 1,838,468 1,889,136 50,668 2.76%
Pension -Police 174,005 188,450 14,445 0.00%
Pension -General 121,205 138,812 17,607 14.53%
Total $ 22,292,834 $ 22,183,516 $ (109,317) -0.49%
Total Restricted Cash 7,313,231
Total Unrestricted Cash $14,870,285
Cash and Investments
Prior Current Dollar Percent
Account 07/31/16 08/31/16 Change Change
Bank of America -Depository $ 6,234,680 $ 6,103,690 $ (130,990) -2.10%
Delaware Limited-Term Diversified Inc A 2,552,832 2,556,519 3,687 0.14%
Global X Gold Explorers ETF 4,264,121 4,279,083 14,962 0.35%
lnvesco Floating Rate A 756,274 762,047 5,773 0.76%
Voya Short Term Bond Fund Class A 4,219,344 4,216,535 (2,809) -0.07%
MSSB Money MarkeUCash 4,239,528 4,239,573 45 0.00%
SBA-Florida Prime 22,905 22,919 14 0.06%
Cash on Hand 3,150 3,150 0.00%
Subtotal $ 22,292,834 $ 22,183,516 $ (109,317) -0.49%
Police Pension Investments $ 9,029,470 $ 9,283,921 $ 254,450 2.82%
General Pension Investments 15,820,058 16,301,792 481,734 3.05%
Subtotal $ 24,849,528 $ 25,585,713 $ 736,185 2.96%
Total $ 47,142,361 $ 47,769,229 $ 626,868 1.33%
AGENDA ITEM 4A
City of Atlantic Beach
OCTOBER 10, 2016
FINANCIAL REPORT
August 2016
Revenues
Annual YTD YTD Dollar
Fund I (Footnote) Estimate Estimate Actual Variance
General $ 11,762,799 $ 10,782,178 $ 11,334,451 $ 552,273
Convention Development Tax 96,307 88,264 114,512 26,248
Local Option Gas Tax 461,611 423,137 427,416 4,279
Better Jax 1/2 Ct Sales Tax 790,128 724,273 746,425 22,152
Police Training, Forfeiture & Grants 89,150 91,420 96,323 4,903
Grants -CDBG 650,000 595,826 335,318 (260,508)
Capital Projects 855,000 1,243,968 1,282,962 38,994
Utility 8,335,711 7,640,919 8,104,917 463,998
Sanitation 1,840,330 1,686,949 1,769,764 82,815
Building Code Enforcement 439,134 402,501 473,447 70,946
Storm Water 875,708 802,725 853,361 50,636
Pension -Police 1,530,544 1,402,984 1,530,772 127,788
Pension -General 2,336,217 2,141,524 2,608,684 467,160
Total $ 30,062,639 $ 28,026,668 $ 29,678,352 $ 1,651,684
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 $552,273. 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 $260,508, there will be one final
reimbursement request in September of FY17. Then, the remaining balance in the project
will carry over into next fiscal year.
Utility Fund reflected a positive variance of $463,998. Majority of this variance is system
development charges equaling $395,286 year to date, compared to an adjusted budget
equaling $110,004.
Pension Funds reflected positive variances of $127,788 and $467,160. This variance is a
result of market performance above the 7% assumed rate of return at the end of August.
Percent
Variance
5.12%
29.74%
1.01%
3.06%
5.36%
-43.72%
3.13%
6.07%
4.91%
17.63%
6.31%
9.11%
21.81%
5.89%
AGENDA ITEM 4A
OCTOBER 10, 2016
City of Atlantic Beach
FINANCIAL REPORT
August2016
Expenses
Annual YTD YTD Dollar Percent
Department Estimate Estimate Actual Variance Variance
Governing Body $ 40,384 $ 36,982 $ 39,317 $ (2,335) -6.31%
City Administration 2,618,734 2,388,338 2,245,218 143,120 5.99%
General Government 6,591,925 5,907,387 2,498,002 3,409,385 57.71%
Planning and Building 1 ,440,171 1,316,909 964,964 351,945 26.73%
Public Safety 5,866,105 5,374,941 4,803,394 571,547 10.63%
Recreation and Beautification 1,507,474 1,380,049 1,230,945 149,104 10.80%
Public Works 5,540,108 5,077,941 3,819,241 1,258,700 24.79%
Public Utilities 10,267,628 9,411,738 6,589,379 2,822,359 29.99%
Pension -Police 621,607 569,745 551,602 18,143 3.18%
Pension -General 986,941 904,662 1,187,501 (282,839) -31.26%
Total $ 35,481,077 $ 32,368,692 $ 23,929,563 $ 8,439,129 26.07%
Annual YTD YTD Dollar Percent
Resource Allocation Estimate Estimate Actual Variance Variance
Personnel Services $ 10,071,065 $ 9,252,152 $ 8,614,426 $ 637,726
Operating Expenses 11,637,382 10,641,630 8,878,215 1,763,415
Capital Outlay 9,585,235 8,703,692 2,384,021 6,319,671
Debt Service 1,964,401 1,800,656 1,964,401 (163,7 45)
Grants and Aids 36,820 33,737 36,560 (2,823)
Transfers 2,186,174 1,936,825 2,051,940 (115, 115}
Total $ 35,481,077 $ 32,368,692 $ 23,929,563 $ 8,439,129
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:
General Government had a positive variance of $3,409,385. Most of the variance is the result of the Capital Project Fund -Public
Safety Building, Francis Ave Drainage and Marsh Preserve Path projects-see Project Activity Schedule.
Planning and Building had a positive variance of $351,945. Most of the variance is the result of the Francis Ave Drainage
Improvement Project (CDBG Grant)-see Project Activity Schedule.
Public Safety had a positive variance of $571,547. Majority of the variance consists of positive variances in Salaries and the City of
Jacksonville Fire Contract that is billed quarterly.
Public Works had a positive variance of $1,258,700. Most of the variance is the result of project activity budgeted that has not been
started/completed-see Project Activity Schedule.
Public Utilities had a positive $2,822,359 variance for the period. 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 $282,839 variance for the period. In October, a large payout of $207,381.11 was made to a
former employee's beneficiary.
Operating Expenses had a positive variance of $1,763,415. Various contractual services contribute to this balance. The largest
contracts are the Fire Contract (COJ), Sanitation Contract, and Road Paving.
Capital Outlay had a positive variance of $6,319,671. Most of the capital and project expenditures occur in the middle to latter part of
the fiscal year-see Project Activity Schedule.
6.89%
16.57%
72.61%
-9.09%
-8.37%
-5.94%
26.07%
AGENDA ITEM 4A
FINANCIAL REPORT OCTOBER 10, 2016
August 2016
Project Activity-Current Year Activity Only
Project YTD YTD
Project Name Number Budget Actual Encumbrances Balance
General Government
RUSSELL PK RENOVATION PM1501 $ 233,180 $ 65,189 $ 37,555 $ 130,436
DONNER PK PLAYGRND LIGHTS PM1503 6,500 6,146 354
BULL PK PLAYGRND EQUIPMT PM1504 35,000 16,039 (0) 18,961
DUTTON ISLE RD IMPROVMENT PM1505 25,000 7,386 17,234 380
NEW POLICE BLDG-DES/CONST PS1501 3,601,967 650,483 2,951,484
SAL TAIR/STURDIVAN SIDEWLK PW1406 32,090 2,080 2 30,008
SEMINOLE STREET SCAPE 1 PW1407 258,092 7,684 11,383 239,025
MARSH PROJECT PED PATH PW1408 56,504 12,075 36,537 7,893
BIKE RACKS & STREET LIGHT PW1501 6,789 6,789
CH PARK LOT LIGHTS-LAST PW1504 9,554 9,554 (0)
TOWNCENTER IMPR DECK & BR PW1601 40,000 40,000
VET PARK PLAYSET PW1602 40,000 40,000
MARSH PRESERVE PATH PHZ-1 PW1603 540,000 288,449 171,211 80,340
Subtotal $ 4,884,676 $ 1,071,873 $ 3,225,406 $ 587,397
Planing, Zoning & Building
FRANCIS AVE DRAINAGE IMPR PW1502 650,000 368,567 269,529 11,903
Subtotal $ 650,000 $ 368,567 $ 269,529 $ 11,903
Public Works:
SEMINOLE STREET SCAPE 1 PW1407 $ 13,487 $ 12,807 $ 680 $ 0
SAL TAIR DRAINAGE UPGRADE PW1411 61,707 4,000 (2) 57,709
SE SEMINOLE RD DRAIN IMPR PW1412 650,000 650,000
Subtotal $ 725,194 $ 16,807 $ 678 $ 707,709
Public Utilities:
INLINE VALVE INSTALLATION PU1404 $ 16,355 $ 16,253 $ $ 102
EFFLUENT OUTFALL REPLCMT PU1408 2,625 3,653 (1 ,028)
WELL LOGGING-6 WELLS PU1501 130,000 130,000
UPDATE MODELS PU1502 23,442 24,062 (620)
EFF OUTFALL@ SHERMAN PT PU1504 559,404 64 532,764 26,577
WETWLL LINE-MIM COVE LS PU1505 13,954 13,954 (0)
WETWELL LINE-FAIRWAY V LS PU1506 14,141 14,141 0
NORTH FENCE REPLACE WTP2 PU1601 10,000 9,295 705
SOFT STARTS -WTP1, 2 &3 PU1602 48,000 710 31,699 15,591
CHLORINE AUTO CONTROL VAL PU1603 31,000 25,916 1 5,083
CONTROL BUBBLER SYSTEM PU1604 15,000 172 14,828
REPLACE SEASPRAY H20 SERV PU1605 100,000 97,339 2,661
ATLANTIC WATER MAIN REPLA PU1606 100,000 100,000
SEWER SYSTEM REHAB SEAOAT PU1607 206,750 206,750
CONTROL PANEL LIFT STA WW PU1608 19,000 218 13,831 4,951
SOFTSTARTS LIFT ST. ABC&D PU1609 55,000 20,092 0 34,908
2 POINT REP. EFF GRAV ICW PU1610 30,000 30,000
PHORPHOROUSTREATMENTFAC PU1611 225,000 24,833 200,167
REPLACE DISKS KRUGER DISF PU1612 6,000 5,999 1
INFLUENT SCREENS (2) PU1613 27,373 230 27,142 1
REPLACE EFF PUMP #2 PU1614 42,627 575 35,987 6,065
REPLACE RAS PUMP & MOTOR PU1615 50,000 575 25,946 23,479
REPLAC INFLUENT PUMP WWTP PU1616 22,000 253 21,747
SEMINOLE STREET SCAPE 1 PW1407 705,395 5,123 11,247 689,025
Subtotal $ 2,453,066 $ 263,456 $ 676,968 $ 1,512,642
Total $ 8,712,936 $ 1,720,704 $ 4,172,581 $ 2,819,652
Business Information Report
August 2016
904 TECHNIQUES,INC.
Ownership Type: CORPORATION
Open Date: 08/18/2016
Primary Location Address
1447 MAYPORT ROAD UNIT 03
ATLANTIC BEACH, FL 32233
SWEAT N CORE FITNESS
Ownership Type: SOLE PROPRIETOR
Open Date: 08/29/2016
Primary Location Address
800 MAYPORT ROAD
ATLANTIC BEACH, FL 32233
AGENDA ITEM 4A
OCTOBER 10, 2016