Exh 4ACity of Atlantic Beach
FINANCIAL REPORT
FEBRUARY 2005
AGENDA ITEM #4A
)VTARCH 28, 2005
Cash Balances
Prior Current Dollar
• Fund(s) 01/31/05 02/28/05 Change
General $6,536,519 $6,519,169 ($17,350)
• Tree Replacement 17,201 17,201 0
Convention Development Tax 172,071 205,765 33,694
' Local Option Gas Tax 305,579 311,117 5,538
• Better Jax 112 Cent Sales Tax 1,095,475 1,000,225 (95,250)
Police Training, Forfeit, etc. 38,274 33,701 (4,573)
Grants 101,913 69,092 (32,821)
Debt Service 37,924 44,031 6,107
' • Capital Project 27,831 27,879 48
Utility 3,946,527 3,991,554 ~ 45,027
Sanitation 531,859 605,390 73,533
• Storm Water 1,801,874 1,969,996 168,122
Pension -Police (3,838) (8,778) (4,941)
Pension -General 14,353 27,184 12,830
• Total $14,623,562 $14,813,526 $189,964
Total Restricted Cash $6,306,557
Total Unrestricted Cash $8,506,969
Cash and Investments
Prior Current Dollar Rate of
Account 01131/05 02/28/05 Change Return
Bank of America -Depository $214,830 $875,687 $660,857 1.38
SBA $14,406,682 $13,935,789 (470,893) 2.54
Cash on Hand $2,050 $2,050 0 -
Su btotal 14, 623, 562 14, 813, 526 189, 964
Suntrust-Pension-Police 4,162,359 4,188,968 26,611 5.40 (1)
Merrill Lynch-Pension-Police 376,655 391,208 14,553 13.60 (1)
Suntrust-Pension-General 5,636,742 5,672,528 35,786 5.30 (1)
Merrill Lynch-Pension-General 776,551 806,551 30,000 13.60 (1)
Subtotal 10,952,307 11,059,255 106,950
Total $25,575,869 $25,872,781 $296,914
(1) FYTD rate of return through 12/31/04
City of Atlantic Beach
FINANCIAL REPORT
FEBRUARY 2005
Revenues
AGENDA ITEM #4A
NIAItCH 28, 2005
Annual YTD - 42% YTD Dollar Percent
Fund ! (Footnote) Estimate of Estimate Actual Variance Variance
General (1) $9,166,252 $3,822,327 $5,254,816 $1,432,489 37.48%
Tree Replacement 0 0 0 0 0.00%
Convention Development Tax 177,000 73,809 94,513 20,704 28.05%
Local Option Gas Tax 519,800 216,757 228,644 11,887 5.48%
Better Jax 1/2 Ct Sales Tax 617,300 257,414 299,798 42,384 16.47%
Police Training, Forfeit, etc. 33,180 13,837 9,659 (4,178) -30.19%
Grants (2) 265,149 110,567 157,255 46,688 42.23%
Debt Service 73,035 30,456 30,621 165 0.54%
Capital Project 0 0 229 229 100.00%
Public Utilities 6,458,352 2,693,132 2,630,945 (62,187) -2.31%
Sanitation 1,319,500 550,232 536,267 (13,965) -2.54%
Storm Water 2,607,493 1,087,325 1,107,417 20,092 1.85%
Pension -Police (3) 523,361 218,242 365,942 147,700 67.68%
Pension -General (3) 775,943 323,568 617,513 293,945 90.84%
Total $22,536,365 $9,397,666 $11,333,619 $1,935,953
Analysis of Major Variances
(1) The $1,432,489 positive variance in the General Fund resulted primarily from the receipt
of 88% of the property taxes from the City of Jacksonville having been received in the
first half of fiscal year 2005.
(2) The $46,688 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 ($8,049
in the Local Law Enforcement Block Grant & $57,465 in the FDOT -DUI Enforcement
Grant)
(3) The $147,700 positive variance in the Police Employee Pension Fund & the $293,945
positive variance in the General Employee Pension Fund resulted from increases in
the market values of the investments above estimates.
AGENDA ITEM #4A
City of Atlantic Beach MARCH 28, 2005
FINANCIAL REPORT
FEBRUARY 2005
Expenses
Department / (Footnote) Annual
Estimate YTD Estimate
42°!° YTD
Actuat Dollar
Variance Percent
Variance
Governing Body $43,807 $18,268 $19,024 ($756) -4.14°Io
City Administration 1,878,828 783,471 747,416 36,055 4.60%
' ~ General Government (1) 3,976,583 1,658,234 1,323,452 334,782 20.19%
. Planning and Building (2) 697,108 290,694 203,662 87,032 29.94%
Public Safety (3) 4,129,655 1,722,068 1,365,383 356,685 20.71%
Parks and Recreation 976,291 407,115 382,955 24,160 5.93%
Public Works (4) 6,013,878 2,507,787 1,543,717 964,070 38.44°l0
Public Utilities 7,489,105 3,122,957 2,907,301 215,656 6.91°!0
Pension -Police 337,266 140,640 130,126 10,514 7.48%
' Pension -General 382 231 159,390 143,987 15 403 9.66%
Total $25.924.752 $10,810,624 $8,767,023 $2,043.601
Annual YTD Estimate YTD Dollar Percent
Resource Allocation Estimate 42% Actual Variance Variance
Personal Services $7,430,159 $3,098,376 $2,670,060 $428,316 13.82%
Operating Expenses (2) 8,526,602 3,555,596 2,811,520 744,076 20.93%
Capital Outlay (1) & (3) 5,203,219 2,169,742 674,149 1,495,593 68.93%
Debt Service (5) 1,756,403 732,420 1,357,807 (625,387) -85.39%
• Transfers 3,008 369 1 254,490 1,253,487 1 003 0.08%
Total $25,924,752 $10,810,624 $8,767,023 $2,043,601
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 until January, 2005- see
Project Activity Schedule. The variance includes: City Hall Expansion, City Hall Lobby
Remodel & Skateboard Park projects.
(2) The positive variance in the Planning & Building departments resulted from not having
begun some of the various projects funded from the Community Development Block
Grant.
(3) 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
received the request for payment from the City of Jacksonville for the period of October
through December 2004 in February, 2005 and Lifeguard services being seasonal
(typically being expended June -August).
(4) 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.
(5) 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 AMAItCH 8E OOSA
FINANCIAL REPORT
" :. FEBRUARY 2005
.. Project Activity -Current Year Activity Only
Project Name YTD
Budget YTD
Actual YTD
Balance
Status
" General Government:
City Hall Expansion $409,264 $128,513 $280
751
City Hall Lobby Remodel 35,000 0 ,
35,000 D
Subtotal
Parks and Recreation: 444,264 128,513 315,751
Skateboard Park 180,827 58,909 121
918 I
Veterans Memorial Park 34,000 22,963 ,
11,037 I
Subtotal 214,827 81,872 132,955
Public Safety
Police Building Design 30,000 275 29,725 A
' ' Subtotal 30,000 275 28,725
'. ' Public Works:
,~ Plaza Entrance/Post Office 100,000 1,750 98
250 E
Hopkins Creek Basin Pond 1,468,149 11,989 ,
1
456
160 E
" Mayport Road Medians 551,942 11,648 ,
,
540
294 E
Drainage-George & Dudley Streets 107,723 19,393 ,
88
330 I
Bike Paths on Seminole and Plaza 232,272 163,615 ,
68
656 I
Welcome Sign and Landscaping 37 600 0 ,
37
600
Ocean/13th -Coast Drive/12th
127,000
378 ,
126
622
A
Shed -Equipment Storage 15 000 0 ,
15
000 I
Five Points Intersection Improvement 65,000 10,559 ,
54
441 E
Sidewalks -New 80,000 0 ,
80
000 I
Pedestrian Path -Plaza Road 75,000 2,150 ,
72
850 E
Sidewalks -Replacements 50 000 258 ,
49
742 I
19th Street Ditch Bulkhead 12,000
0 ,
12,000
' Subtotal
Public Utilities: 2,921,686 221,741 2,699,945
"~ Replace Well 2 at WWTP1 6,389 6,389 (0) C
Security Upgrade/V1Jater Plants 14,864 14,863 1 C
Telemetry at Lift Stations 90,811 90,811 (1) C
Headwork Improvements at WWTP2 330,000 0 330
000 D
Relocate Elevated Storage Tank at WP2 87,908 38,550 ,
49
358 I
Kesner Road Waterline Replacement 33,938 0 ,
33
938
Fence at Water Plants 1, 2 & 3 40,000 0 ,
40
000
Water Line at 10th Street & Beach Avenue 200,000 5,000 ,
195
000 E
Mayport Road Sewer Crossing 150,000 6,656 ,
143
344 E
Lift Station Scada 50,000 22,740 ,
27
260 I
Pond Liner Replacement 45 000 0 ,
45
000
Digester Blowers at WWTP 2 60,000
0 ,
60
000
I
Utility Relocation - Wonderwood Connector 117,258 0 ,
117,258 C
Subtotal 1,226,168 185,009 1,041,159
Total $4,836,945 $617,410 $4,219,535
Status Key
. A -Bid Advertised D -Design Completed
. B -Bid Awarded E -Design Phase
,. C -Project Completed I -Project In-progress