Exh 4A .AGENDA ITEM #4A
City of Atlantic Beach NOVEMBER 28, 2005
FINANCIAL REPORT
OCTOBER 2005
Cash Balances
Prior Current Dollar
Fund(s) 9130/05 10/31/05 Change
General $4,256,111 $3,837,514 ($418,597)
Tree Replacement 30,978 30,978 0
Convention Development Tax 156,365 162,822 6,457
Local Option Gas Tax 332,493 357,815 25,322
Better Jax 1/2 Cent Sales Tax 1,002,807 1,005,380 2,573
Police Training, ForFeit, etc. 20,245 24,112 3,867
Grants 0 42,690 42,690
Debt Service ~ 76,101 82,155 6,054
Utility 4,119,033 3,202,915 (916,118)
Sanitation 577,140 568,340 (8,800)
Storm Water 3,123,345 2,980,914 (142,431)
Pension -Police 13,791 6,649 (7,142)
Pension -General 19,386 37,764 18,378
Total $13,727,795 $12,340,048 ($1,387,747)
Total Restricted Cash $6,332,564
Total Unrestricted Cash $6,007,484
Cash and Investments
Prior Current Dollar Rate of
Account 9/30105 10/31/05 Change Return
Bank ofAmerica -Depository $1,283,089 $138,741 ($1,144,348) 2.78
SBA 12,442,156 12,198,757 (243,399) 3.77
Cash on Hand 2,550 2,550 0 -
Subtotal 13,727,795 12,340,048 (1,387,747)
Suntrust-Pension-Police 4,220,412 4,179,695 (40,717) 7.50 (1}
Merrill Lynch-Pension-Police 516,419 501,173 (15,246) 28.60 (1)
Suntrust-Pension-General 5,713,676 5,657,681 (55,995) 7.60 (1)
Merrill Lynch-Pension-General 1,095,907 1,063,557 (32,350) 28.60 (1)
Subtotal 11,546.414 11,402.106 (144.308)
Total $25,274,209 $23,742,154 ($1,532,055)
(1) FYTD rate of return through 09/30/05
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2005
Revenues
AGIrNDA ITIriVI #4A
NOVIrMBER 28, 2005
Annual YTD - 8% YTD Dollar Percent
' Fund !(Footnote) Estimate of Estimate Actual Variance Variance
General (1) $9,951,978 $826,014 $643,811 ($182,203) -22.06%
Tree Replacement 0 0 0 0 100.00%
Convention Development Tax 128,000 10,624 6,457 (4,167) -39.22%
Local Option Gas Tax 564,042 46,815 52,436 5,621 12.01
Better Jax 112 Ct Sales Tax 702,336 58,294 53,795 (4,499) -7.72%
Police Training, Forfeit, etc. 31,800 2,640 4,719 2,079 78.75%
Grants 447,833 37,170 48,749 11,579 31.15%
Debt Service ~ 71,100 5,901 6,054 153 2.59%
Utility (2) 6,623,534 549,753 572,871 23,118 4.21%
Sanitation 1,362,300 113,071 107,294 (5,777) -5.11%
Storm Water (3) 1,067,868 88,633 61,149 (27,484) -31.01%
Pension -Police (4) 702,355 58,295 (32,655) (90,950) -156.02%
Pension -General (4) 1,015,029 84,247 40,645 124,892 -148.25%
Total $22,668,175 $1,881,457_ $1,484,035 ($397,422)
Analysis of Major Variances
(1) The $182,203 negative variance in the General Fund resulted from not having received
property taxes. Typically these taxes are received from the City of Jacksonville in
January of the next year.
(2) The $23,118 positive variance in the Utility Funds resulted from billed revenues
exceeding estimated amounts & collection of the tower lease payment in October, 2005.
(3) The $27,484 negative variance in the Stormwater Fund resulted from the award of a
grant in fiscal year 2006 that has not been received.
(4) The $90,950 negative variance in the Police Employee Pension Fund & the $124,892
negative variance in the General Employee Pension Fund resulted from changes in
market values of the investments.
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2005
AGENDA ITI;NI #4A
NOVI;itiIBER 28, 200
Expenses
Annual YTD - 8% YTD Dollar Percent
' Department / (Footnote) Estimate of Estimate Actual Variance Variance
Governing Bady $45,938 $3,813 $4,215 ($402) -10.54%
City Administration 2,122,737 176,186 155,229 20,957 11.89%
General Government (1) 2,165,615 179,747 46,470 133,277 74.15%
Planning and Building 591,118 49,063 33,621 15,442 31.47%
Public Safety (2) 4,714,649 391,316 219,175 172,141 43.99%
Parks and Recreation 1,023,072 84,916 74,043 10,873 12.80%
Public Works (3) 6,136,758 509,352 348,349 161,003 31.61%
Public Utilities (4) 7;115,581 590,593 1,311,274 (720,681) -122.03%
Pension -Police 400,936 33,278 31,833 1,445 4.34%
' Pension -General 405,798 33,681 30,776 2,905 8.63%
Total $24,722,202 $2,051,945 $2,254,985 _ ($203,040)
Annual YTD Estimate YTD Dollar Percent
Resource Allocation Estimate 8% Actual Variance Variance
• Personal Services (5) $7,913,547 $656,825 $471,582 $185,243 28.20%
Operating Expenses 9,523,605 790,461 520,823 269,638 34.11%
Capital Outlay (1) & (3) 4,818,388 399,926 79,463 320,463 80.13%
Debt Service (4) 1,677,585 139,240 1,117,360 (978,120) -702.47%
Transfers 789,077 65,493 65,757 (264) -0.40%
Total $24,722,202 $2,051,945 $2,254,985 ($203,040)
Analysis of Major Variances
(1) The positive variance in the General Government departments resulted from not having
begun the various projects funded from this source -see Project Activity Schedule.
(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 next
payment is due in January 2006 for October through December 2005.
(3) The positive variance in the Public Works departments resulted from the waste
management contract and First Vehicle not having been paid in October 2005 and not
having begun various projects funded from this source -see Project Activity Schedule.
(4) The negative variance in the Public Utilities department resulted from the October
payment of principal and interest on the Utility Revenue Bonds.
(5) The positive variance in the Personal Services is typical for the first month of the new
fiscal year due to the payroll expense only including three weeks of the month of
October. The last week of October will not be paid until November. This explains why
approximately 28% of October's budgeted payroll has not been expensed.
City of Atlantic Beach
FINANCIAL REPORT
OCTOBER 2005
Project Activity -Current Year Activity Only AGIrNDA ITEM #~A
NOVIrI41E1:R 23, 2005
. Project YTD YTD YTD
Project Name Number Budget Actual Balance Status
• ~ General Government:
City Hall Expansion GG0402 $2,816 $0 $2,816 I
Subtotal 2,816 0 2,816
Parks and Recreation:
Beautification PR0601 45,000 0 45,000
Subtotal 45,000 0 45,000
' Public Safety
Police Building Renovations ~ PS0504 475,000 0 475,000 D
Homeland Security Items PS0601 138,000 0 138,000 I
' Subtotal 613,000 0 613,000
Public Works:
Plaza Entrance/Post Office PW0305 55,080 0 55,080
Napkins Creek Basin Pond PW0309 1,301,500 0 1,301,500 E
Mayport Road Medians PW0401 346,858 0 346,858 E
Welcome Sign and Landscaping PW0405 78,000 0 78,000
Oceanl13th -Coast Drive/12th PW0409 132,073 2,073 130,000
• Five Points Intersection Improvement PW0502 346,643 1,485 345,158 I
Sidewalks -New PW0503 23,795 0 23,795 I
Sidewalks -Replacements PW0505 10,752 5,520 5,232 I
Seminole Ditch Headwall PW0507 12,974 0 12,974 I
Pathway -Plaza (West of Mayport Road) PW0508 24,676 0 24,676 I
Concrete Floor for Shed PW0601 8,000 0 8,000
Medians Rehab -Atlantic Boulevard PW0602 20,000 0 20,000
Roll Off Concrete Pads PW0603 10,000 0 10,000
Sidewalks & Curbs PW0604 50,000 0 50,000 I
Paving of City Hall Parking Lot PW0605 84,000 0 84,000
' Pathways PW0606 150,000 0 150,000 •
Sidewalks - Sailfish,Royal Palm & Frances PW0607 90,800 0 90,800
Subtotal 2,745,151 9,078 2,736,073
• Public Utilities:
Security Upgrade/VUater Plants
' PU0305 2,485 0 2,485 I
Headwork Improvements at WWTP2 PU0310 52,027 0 52,027
Water Line at 10th Street & Beach Avenue PU0503 97,776 31,138 66,638 I
Mayport Road Sewer Crossing PU0504 50,000 0 50,000
• ~ Fence Replacement at Water Plant 1 PU0601 70,000 0 70,000
Water Main at Sailfish Drive & Plaza PU0602 60,000 0 60,000
Sewer Crossing Ditch at Palm Landing PU0603 30,000 0 30,000
Genset at Lift Station B PU0604 44,650 0 44,650 I
Clarifier Rehabilitation PU0605 100,000 0 100,000
Fence Replacement at WWTP 1 PU0606 15,000 0 15,000
Sludge Container Refurbishment PU0607 15,000 0 15,000
Subtotal 536,938 31,138 505,800
Total $3,942,905 $40,216 $3,902,689
Status Key
• B -Bid Awarded E -Design Phase
C -Project Completed I -Project In-progress
' D -Design Completed R - Re-budget Next Fis cal Year
AGENDA ITEM #~3A
NOVENII3ER 28, 2005
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