Exh 4AAGENDA ITEM #4A
rE>3ruAI:Y 23, 200
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2005
Cash Balances
Prior Current Dollar
Fund(s) 12/31/04 1/31!05 Change
General
Tree Replacement
Convention Development Tax
Local Option Gas Tax
Better Jax 112 Cent Sales Tax
Police Training, Forfeit, etc.
Grants
Debt Service
Capital Project
Utility
Sanitation
Storm Water
Pension -Police
Pension -General
Total
Total Restricted Cash
Total Unrestricted Cash
$6,298,667
$8,324,895
Cash and Investments
Account
$5,572,721 $6,536,518 $963,797
17,201 17,201 0
166,618 172,071 5,453
302,416 305,579 3,163
1,131,086 1,095,475 (35,611)
39,928 38,274 (1,654)
101,598 101,913 316
31,829 37,924 6,095
27,784 27,831 47
3,807,437 3,946,528 139,091
530,423 531,859 1,436
1,629, 502 1,801, 874 172, 371
5,072 (3,838) (8,910)
(1,134) 14,353 15,487
$13,362,481 $14,623,562 $1,261,081
Prior Current Dollar Rate of
12!31104 1131105 Change Return
Bank of America -Depository $1,294,945 $214,830 ($1,080,115) 1.15
SBA $12,065,486 $14,406,682 2,341,196 2.33
Cash on Hand $2,050 $2,050 0 -
Subtotal 13,362,481 14,623,562 1,261,081
Suntrust-Pension-Police 4,198,704 4,162,359 (36,345) 5.40 (1)
Merrill Lynch-Pension-Police 381,256 376,655 (4,601) 13.60 (1}
Suntrust-Pension-General 5,684,384 5,636,742 (47,642) 5.30 (1}
Merrill Lynch-Pension-General 786,036 776,551 (9,485) 13.60 (1)
Subtotal 11,050,380 10,952,307 (98,073)
Total $24,412,861 $25,575,869 $1,163,008
(1) FYTD rate of return through 12/31/04
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2005
Revenues
AGENDA ITEM #4A
TEBRUARY 28, 2005
Annual YTD - 33% YTD Dollar Percent
Fund / (Footnote) Estimate of Estimate Actual Variance Variance
General (1) $9,166,252 $3,052,362 $4,480,076 $1,427,714 46.77%
Tree Replacement 0 0 0 0 0.00%
Convention Development Tax 177,000 58,941 28,532 (30,409) -51.59%
Local Option Gas Tax 519,800 173,093 182,888 9,795 5.66%
Better Jax 112 Ct Sales Tax 617,300 205,561 224,659 19,098 9.29%
Police Training, Forfeit, etc. 33,180 11,049 7,529 (3,520) -31.86%
Grants (2) 265,149 88,294 152,086 63,792 72.25%
Debt Service 73,035 24,321 24,514 193 0.79%
Capital Project 0 0 181 181 100.00%
Public Utilities 6,458,352 2,150,631 2,122,766 (27,865) -1.30%
Sanitation 1,319,500 439,394 429,156 (10,238) -2.33%
Storm Water 2,607,493 868,295 886,833 18,538 2.13%
Pension -Police (3) 523,361 174,279 298,850 124,571 71.48%
Pension -General (3) 775,943 258,389 498,895 240,506 93.08%
Total $22,536,365 $7,504,609 $9,336,965 $1,832,356
Analysis of Major Variances
(1) The $1,427,714 positive variance in the General Fund resulted primarily from the receipt
of 80% of the property taxes from the City of Jacksonville having been received in the
first quarter of fiscal year 2005.
(2) The $30,409 negative variance in the Convention Development Tax Fund resulted
from not having received expected donations for the skateboard park.
(3) The $63,792 positive variance in the Grant Funds resulted from cash being received in
fiscal year 2005 for the reimbursement of expenses incurred in fiscal year 2004 ($8,015
in the Local Law Enforcement Block Grant & $57,465 in the FDOT -DUI Enforcement
Grant)
(3) The $124,751 positive variance in the Police Employee Pension Fund & the $240,506
positive variance in the General Employee Pension Fund resulted from increases in
the market values of the investments above estimates.
AGENDA ITEM #4A
FEBRUARY 28, 2005
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2005
Expenses
Department 1(Footnote) Annual
Estimate YTD Estimate
33% YTD
Actual Dollar
Variance Percent
Variance
Governing Body $43,807 $14,588 $14,903 ($315) -2.16%
City Administration 1,878,828 625,650 606,405 19,245 3.08%
General Government (1) 3,976,583 1,324,202 1,111,837 212,365 16.04%
Planning and Building 697,108 232,137 134,467 97,670 42.07%
Public Safety (2) 4,129,655 1,375,176 918,825 456,351 33.18%
Parks and Recreation 976,291 325,105 269,573 55,532 17.08%
Public Works (3) 6,013,878 2,002,621 1,248,767 753,854 37.64%
Public Utilities 7,489,105 2,493,869 2,534,582 (40,713) -1.63%
Pension -Police 337,266 112,310 99,483 12,827 11.42%
Pension -General 382,231 127,283 104,909 22,374 17.58%
Total $25,924,752 $8,632,941 $7,043,751 $1,589,190
Annual YTD Estimate YTD Dollar Percent
Resource Allocation Estimate 33% Actual Variance Variance
Personal Services $7,430,159 $2,474,243 $2,118,962 $355,281 14.36%
Operating Expenses (2) 8,538,202 2,843,220 2,017,612 825,608 29.04%
Capital Outlay (1) & (3) 5,191,619 1,728,809 546,580 1,182,229 68.38%
Debt Service (4) 1,756,403 584,882 1,357,807 (772,925) -132.15%
Transfers 3 008,369 1,001,787 1,002,790 1 003 -0.10%
Total $25,924,752 $8,632,941 $7,043,751 $1,589,190
Analysis of Major Variances
(1) The positive variance in the General Government departments resulted from not having
begun some of the various projects funded from this source -see Project Activity
Schedule. The variance includes: City Hall Expansion, City Hall Lobby Remodel &
Skateboard Park projects.
(2) The positive variance in the Public Safety departments is partially due to the payment
being due quarterly to the City of Jacksonville for fire & rescue services. The City has
not received a request for payment from the City of Jacksonville for the period of October
through December 2004 as of January, 2005 and Lifeguard services being seasonal
(typically being expended June -August).
(3) The positive variance in the Public Works departments resulted from not having begun
some of the various projects funded from this source -see Project Activity Schedule.
(4) The negative variance in the Debt Service accounts resulted from the semi-annual
payment of principal and interest on the 1996 Utility Revenue Bonds made in October.
City of Atlantic Beach
FINANCIAL REPORT
JANUARY 2005
AGENDA ITEM #4A
FEBRUARY 28, 2005
Project Activity -Current Year Activity Only
YTD YTD YTD
Project Name Budget Actual Balance Status
General Government:
City Hall Expansion
City Hall Lobby Remodel
Parks and Recreation:
Skateboard Park
i Veteran's Memorial Park
Public Safety
Police Building Design
$409,264 $128,513 $280,751 I
35,000 0 35,000 D
Subtotal 444,264 128,513 315,751
180,827 37,171 143,656
34,000 0 34,000
Subtotal 214,827 37,171 177,656
30,000 275 29,725
Subtotal 30,000 275 29,725
Public Works:
Plaza Entrance/Post Office
Hopkins Creek Basin Pond
Mayport Road Medians
Drainage-George & Dudley Streets
Bike Paths on Seminole and Plaza
Welcome Sign and Landscaping
Ocean/13th -Coast Drive/12th
Shed -Equipment Storage
' Five Points Intersection Improvement
Sidewalks -New
Pedestrian Path -Plaza Road
Sidewalks -Replacements
19th Street Ditch Bulkhead
Subtotal
Public Utilities:
Replace Well 2 at WWTP1
Security Upgrade/UVater Plants
Telemetry at Lift Stations
Headwork Improvements at WWTP2
Relocate Elevated Storage Tank at WP2
Kesner Road Waterline Replacement
Fence at Water Plants 1, 2 & 3
Water Line at 10th Street & Beach Avenue
Mayport Road Sewer Crossing
Lift Station Scada
Pond Liner Replacement
Digester Blowers at WWTP 2
Utility Relocation - Wonderwood Connector
Subtotal
Total
Status Key
A -Bid Advertised
B -Bid Awarded
C -Project Completed
100,000 0 100,000
1,468,149 11,989 1,456,160
551,942 8,845 543,097
107,723 0 107,723
232,272 158,846 73,426
37,600 0 37,600
127,000 378 126,622
15,000 0 15,000
65,000 5,059 59,941
80,000 0 80,000
75,000 2,150 72,850
50,000 258 49,742
12,000 0 12,000
2,921,686 187,525 2,734,161
6,389 6,389 (0)
14,864 14,863 1
90,811 48,718 42,093
330,000 0 330,000
75,418 37,050 38,368
33,938 0 33,938
40,000 0 40,000
200,000 0 200,000
150,000 6,656 143,344
50,000 0 50,000
45,000 0 45,000
60,000 0 60,000
117,258 0 117,258
1, 213,678 113,676 1,100, 002
$4,824,455 $467,161 $4,357,295
D -Design Completed
E -Design Phase
I -Project In-progress
A
E
E
E
D
I
A
I
E
E
I
C
C
I
D
I
E
E
I
I
C