Exh 4A AGENDA ITELVI #4A
City of Atlantic Beach JUNE 27, Zoos
. FINANCIAL REPORT
MAY 2005
.. Cash Balances
.. ~ Prior Current Dollar
Fund(s) 04/30/05 05/31/05 Change
.. General $5,799,792 $5,399,386 ($400,406)
Tree Replacement 30,978 30,978 0
' Convention Development Tax 121,329 102,675 (18,654)
Local Option Gas Tax 272,147 325,765 53,618
BetterJax 1/2 Cent Sales Tax 946,878 954,877 7,999
. ~ Police Training, Forfeit, etc. 40,292 34,957 (5,335)
Grants (32,633) (51,755) (19,122)
" " Debt Service 56,309 62,483 6,174
. Capital Project 27,936 0 (27,936)
Utility 4,035,783 4,084,487 48,704
Sanitation 660,534 f 579,418 (81,116)
Storm Water 2,311,467 2,480,074 168,607
' Pension -Police 20,937 14,988 (5,949)
Pension -General 16,566 34,343 17,777
Total $14,308,315 $14,052,676 ($255,639)
Total Restricted Cash $6,337,483
Total Unrestricted Cash $7,715,193
Cash and Investments
Prior Current Dollar Rate of
Account 04/30/05 05/31/05 Change Return
" Bank of America -Depository $211,677 $177,351 ($34,326) 1.38
" SBA $14,094,588 $13,873,275 (221,313) 2.54
Cash on Hand $2,050 $2,050 0 -
Subtotal 14,308,315 14,052,676 (255,639)
Suntrust-Pension-Police 3,982,385 4,069,229 86,844 4.20 (1)
Merrill Lynch-Pension-Police 448,519 452,363 3,843 13.60 (1}
Suntrust-Pension-General 5,412,506 5,530,255 117,749 4.20 (1)
" Merrill Lynch-Pension-General 951,825 959,980 8,156 13.60 {1)
Subtotal 10,795,235 11,011,827 216,592
• Total $25,103,550 $25,064,503 {$39,047)
(1) FYTD rate of return through 03/31/05
City of Atlantic Beach
FINANCIAL REPORT
MAY 2005
Revenues
AGENDA ITEM #4A
JUNE 27, 2005
Fund ! (Footnote) Annual
Estimate YTD - 67%
of Estimate YTD
Actual Dollar
Variance Percent
Variance
General (1) $9,274,236 $6,176,641 $7,219,713 $1,043,072 16.89%
Tree Replacement 13,778 9,176 13,778 4,602 0.00%
Convention Development Tax 177,000 117,882 118,955 1,073 0.91
Local Option Gas Tax 519,800 346,187 363,944 17,757 5.13%
` Better Jax 1/2 Ct Sales Tax (2) 617,300 411,122 477,585 66,463 16.17%
Police Training, Forteit, etc. 33,180 22,098 21,539 {559) -2.53%
Grants (3) 282,707 188,283 303,971 115,688 61.44%
Debt Service 73,035 48,641 49,074 433 0.89%
Capita{ Project 0 0 286 286 100.00%
Public Utilities 6,627,412 4,413,856 4,432,769 18,913 0.43%
• - Sanitation 1,413,367 941,x302 909,981 (31,321) -3.33%
Storm Water 2,608,063 1,736,970 1,772,671 35,701 2.06%
• Pension -Police 523,361 348,558 414,481 65,923 18.91 °/o
• . Pension -General (4) 775,943 516,778 729,825 213,047 41.23%
Total $22,939,182 $15,277,494 $16,828,572 $1,551,078
Analysis of Major Variances
(1) The $1,043,072 positive variance in the General Fund resulted primarily from the receipt
of 96% of the property taxes from the City of Jacksonville having been received in the
first eight months of fiscal year 2005.
(2) The $66,463 positive variance in the Better Jacksonville '/~ Cent Sales Tax Fund
resulted from 78.5°!0 of the revenues from the State of Florida having been received in
the first eight months of fiscal year 2005.
(3) The $115,688 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 ($8,035
in the Local Law Enforcement Block Grant, $7,016 in the Safe Neighborhood Grant,
$54,307 in the CDBG & $57,465 in the FDOT -DUI Enforcement Grant) and a request
for reimbursement for fiscal year 2005 in the CDBG for 96% of the amount budgeted.
(4) The $213,047 positive variance in the General Employee Pension Fund resulted from
increases in the market values of the investments above estimates. The Police
Employee Pension Fund has not received the Section 185 funds and therefore the
variance for better than expected investment returns is not evident in this schedule.
City of Atlantic Beach
FINANCIAL REPORT
MAY 2005
Expenses
AGENDA ITEM #4A
JUNE 27, 2005
' ~
Department / (Footnote) Annual
Estimate YTD - 67%
of Estimate YTD
Actual Dollar
Variance Percent
Variance
Governing Body $43,807 $29,175 $30,102 ($927) -3.18%
City Administration 2,015,979 1,342,642 1,284,267 58,375 4.35%
General Government (1) 4,102,314 2,732,141 2,327,108 405,033 14.82%
Planning and Building 771,070 513,532 424,074 89,458 17.42%
Public Safety (2) 4,148,554 2,762,937 2,522,031 240,906 8.72%
Parks and Recreation 981,209 653,486 612,998 40,488 6.20%
Public Works (3) 6,060,135 4,036,051 2,562,617 1,473,434 36.51%
Public Utilities (3) 7,628,910 5,080,854 4,610,433 470,421 9.26%
Pension -Police 337,266 224,619 214,001 10,618 4.73%
Pension -General 382 231 254 566 240,888 13 678 5.37%
Total $26,471,475 $17,630,003 $14,828,519 $2,801,484
Annual YTD Estimate YTD Dollar Percent
Resource Allocation Estimate of Estimate Actual Variance Variance
• - Personal Services $7,414,905 $4,938,327 $4,610,733 $327,594 6.63%
Operating Expenses (2) 8,931,663 5,948,488 4,888,009 1,060,479 17.83%
Capital Outlay (1) & (3) 5,226,557 3,480,887 1,568,121 1,912,766 54.95%
Debt Service (4) 1,756,403 1,169,764 1,622,499 (452,735} -38.70%
Transfers 3 141 947 2 092 537 2 139,157 46 620 -2.23%
Total $26,471,475 $17,630,003 $14,828,519 $2,801,484
Analysis of Major Variances
(1) The positive variance in the General Government departments resulted from not having
begun same 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 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
received the request for payment from the City of Jacksonville far the period of October
through December 2004 in February, 2005 and Lifeguard services being seasonal
(typically being expended June -August} has not begun.
(3) The positive variance in the Public Works & Public Utilities departments resulted from
not having begun or a less than 50% completion status of some of the various projects
funded from this source -see Project Activity Schedule. The largest of these projects is
the Hopkins Creek Drainage project that has not begun due to issues surrounding the
land acquisition.
(4) The negative variance in the Debt Service accounts resulted from the semi-annual
payment of principal and interest in October and the payment of interest in April on the
1996 Utility Revenue Bonds.
City of Atlantic Beach
FINANCIAL REPORT
MAY 2005
Project Activity -Current Year Activity Only
AGENDA ITIJM #4A
JUNE 27, 2005
YTD YTD YTD
' Project Name Budget Actual Balance Status
General Government:
City Hall Expansion
City Hall Lobby Remodel
Parks and Recreation:
Skateboard Park
Veteran's Memorial Park
Public Safety
Police Buiiding Design
$423,768 $295,152 $128,616 I
35,000 0 35,000 D
Subtotal 458,768 295,152 163,616
195,927 193,380 2,547
22,963 22,963 0 C
Subtotal 218,890 216,343 2,547
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
Seminole Ditch Headwall
Subtotal
Public Utilities:
Replace Well 2 at WWTP1
Security UpgradeMlater Plants
Telemetry at Lift Stations
Headwork Improvements at WWTP2
Relocate Elevated Storage Tank at WP2
Kesner Road Waterline Replacement
Pence 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
100,000 1,750 98,250
1,423,149 18,989 1,404,160
301,942 11,648 290,294
97,930 97,930 0
230,291 167,308 62,983
37,600 0 37,600
137,000 10,008 126,992
15,000 12,637 2,363
315,000 26,202 288,798
61,500 9,616 51,884
75,000 2,150 72,850
50,000 2,898 47,102
12,000 0 12,000
35,000 0 35,000
2,891,412 361,136 2,530,276
6,389 6,389 0
14, 864 14, 864 0
90,811 90,811 0
342,665 5,600 337,065
89,108 69,886 19,222
52,726 679 52,047
40,000 0 40,000
200,000 5,250 194,750
83,180 6,655 76,525
105,550 57,871 47,679
45,000 0 45,000
60,000 46,478 13,522
122,386 122,386 0
1,252,679 426,869 825,810
$4,851,749 $1,299,775 $3,551,974
Status Key
A -Bid Advertised D -Design Completed
B -Bid Awarded E -Design Phase
C -Project Completed I -Project ln-progress
A
E
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AGENDr1 ITE1~1 #4A
JUNE 27, 2005
City of Atlantic Beach, FI.
Utility Sales Report
May 2005
i May 2004
Gallons Actual Revenue Gallons Actual Revenue
Water $aleS Accounts (000) Revenue Per 1,000 gl Accounts (000) Revenue Per 1,aoo gi
Atlantic Beach 5,531 46,299 $107,786 $2.33 5,525 54,462 $105,948 $1.95
Buccaneer 2,690 30,170 $75,246 $2.49 2,546 28,523 $64,459 $2.26
Total Water Sales 8,221 76,469 $183,032 $2.39 8,071 82,985 $170,407 $2.05
I Water Plant Production
F
Gallons Gallons
(000) (000)
Atlantic Beach 65,544 78,092
Buccaneer 26,901 27,545
Total Production 92,445 105,637
Total Water Billed 76,469 82,985
Water Loss for month: 15,976 22,652
Percentage Loss 17.28% 21.44%
Total 12 mo. Avg. Loss 9.57% 14.85%
Gallons Actual Revenue Gallons Actual Revenue
Sewer Sales Accounts (000) Revenue Per 1,000 gi Accounts (000) Revenue Per 1,000 gl
Atlantic Beach 4,972 36,530 $159,153 4.36 4,919 38,580 $152,466 3.95
Buccaneer 2,574 28,566 $145,725 5.10 2,441 26,818 $128,378 4.79
Total Sewer Sales 7,546 65,096 $304,878 $4.68 7,360 65,398 $280,844 $4.29
AGENDA ITEM #4A
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