Amended Item 6A- Monthly Financial ReportsCity of Atlantic Beach
FINANCIAL REPORT
January 2018
Cash Balau,ueb
Fund(s)
(so Berl
Tree Replacement
Convention uevoloNme, ,t TaA
Local Option Gas Tax
Better Jan 1 /2 cent Sales Tax
Police Training, FoReitare, grants, etc.
uapital Projects
Utility
Sanitation
Building Code Enrorceme..t
Stun. water
Pension - Police
ren5iun - Ueneral
Prier
11/31/1 /
$ (,455,O34
52;468
280,05/
442,231
82 / ,906
120,609
308.6/b
9,488,783
1/3,531
612,583
2,308,825
11,224,609
23,130 (93
l otal $
17,101 Kistricmd cdah
Total unrustrictea t.;a&I
56,459,1U5
c:arrt:..t
01 /31/18
$ 8-830.894
70,840
280,193
258,936
805.500
9/2,03/
315.185
9, /36,43z
153.142
626,028
1_952.661
11,433,612
19520, /5O
$ 54,956,z1 /
39,6za,ro13
$15,327,057
Dollar Percent
Change Change
$ 1,342;260 1(.92%
15,3/2 35.0z%
136 0.05%
(1253,295) -41 .45%
(22,406) -2.71%
851 ,4z5 /05.94%
6;509 2.11%
24 ,649 2.61%
(20,389) -11.75%
13,445 Z.19%
(356,158) -15.43%
209,003 1.86%
(3;610,043) -15.61%
$ (1,5113,488)-Z.titi°/
Cash a..d IlIvebtmeIIts
Account
BanR Art riw - Uepusituq
Corporate Fixed income - IGloryan Stagy Jey
tuu„er,unent Seoaritites - Morgan Stanley
Cash, BDP, ICIICIF - Morgan Staniey
SBA - Fluriaa Prime
Cash on Rana
Police Pension Iu„estm tints
Ge eral Pension Investments
Subtutal
bu5tutal
Total
Prier
1-1131/17
$ 6,510,282
4,995;772
-I -I ,098,05-1
83,240
22,955
3,150
$ 22,/1,,,4813
$ 10,721,2/8
23 024.948
$ 33,746,226
I. arrt:nt
01131/18
$ 8,19/9/9
5,109,541
10,800,829
161,853
"23.'296
3,150
$ -24,361,648
Dollar Percent
Change Change
$ 1.68/.69/ 25.92%
113,(69 2.28%
(231;222) -2.08%
(5,613 94.44%
311 1.35%
0.00%
$ 1,049.168 7.16%
$ 11,0/2,820 $
19,520, /50
351.542 3.28°/
(3,504,198) -15.22%
$ 30,593,570 $ (,,,105050)
$ 56,459,/135 $ 54.956.117 $ (1;503,488) -2.66%
City or Atlantic rseacn
FIAAAVIAC REPUR 1
Revenues
Fund / (Footnote)
Annual y I D r I D Dollar Percent
t5timate estimate Actual Variance Variance
General $ 12.82y,454 1) 4,2/6,376 $ 7,270,939 $ 2,994,563 70.03%
Convention Development Ian 138,366 46,120 44,941 (1,179) -2.56%
Local Option uas ia„ 4t1,u01 157,300 199,959 42,659 27.12%
Better Jax 1/2 Ct Sales i ax a3a.8a8 313,2u6 442,715 129,419 41.31%
Police I raining, Forfeiture & Grants 8!,636 2y,1u6 30,323 1,127 3.86%
c apital Projects 333,569 111.188 100,u t3 (10,215) -u.19%
Utility 9,345,264 3,115,040 2_a1l.2na out,tt1) -6.35°i
Sanitation 1,925,541 641,840 646,255 4.415 0.6%
6uilaing Code Enrorcement 531,587 177,188 186,532 9,344 5.2!%
Storm vvaier 1,482;003 494,000 377,787 (116,213) -23.52%
Pension - Police 1,113,19! 3/1;048 5/5,084 507,736 136.84%
Pension - General 2,595,71-1 865.232 1,3u6,z60 5.31 Oa 61.37%
Imai $ -,31 M4,127 $ 10,597,824 $ 14,492,737
3,894,913 36.75%
Hnalyaia CPT Major variances
In general, the major varia..,,e5 are �rcated when the actual rands received -to -bate are
ditrerent troll! the percentage of the oudget elapsed -to -data. Fliyhliyhted variance enplanations
ueneral Fond revenne5 show a net positive variance of $2,994,563. Most of this variance
is due to the timing of receipt or ad valorem tunes, the majority of which are received in
December.
Police Pension Fund revenues show a net positive varian„e or $507,736. i Pic vanark.,e i5
re5alt oT retell i5 Deiny in exUcss of expectations.
ueneral Employee Pension Fund revenues show a net positive variance of $531,028.
The variance is a result OT returns Dalny In cnL.c55 oT cnpectation.
City of Atlantic Beach
FINANCIAL REPORT
Expenses
De}err I!lent
Annual
Estimate
YTD
Estimate
YTD
Actual
Dollar
variance
Percent
variance
Governing rsody
Uity Adiiiinistration
�e neral Liover, in lent
Planning ana 6oil6ing
Po6iL, Surety
Recrcatio i and beaatiticatioi i
NoEfic; Works
Pell, Utilities
Pension - Police
Pension - General
$ 4/-/60
2,888,98/
2,116,407
9/2,832
6.146,304
1,404, /03
5,952,781
10.606.693
/30,851
-1,695,424
15;904
994,840
882,246
3'26, /16
2,090,116
476,052
2,365,032
3,639,288
243,592
466,124
13,058
861,6/4
690,260
LUL,695
1,531,477
366,251
2,698,9/5
3,238,902
259,865
4U8,U44
2,846 17.89%
12/.166 12./8%
191,986 21.76%
124,021 3/.96%
558,639 26.73%
109,801 23.06%
(333,943) -14.1z70
400,386 11.00%
(16,273) -6.68%
58,080 11.46°/
Total $ 32,265,t4z $ 11,499,910
$ 1U,Z//,ZU1
1,Z2Z, /U9 1 U.i53%
Resource milu.,atikn
Annual
Eath nate
YID
Estimate
YTD
Actual
Dollar
Variance
Percent
Variance
Personnel services
uperatii ig bApenses
VaN tel uotiay
Debt Service
Transfers
$ 10.938.208
12,857,421
4,/41,000
4005,868
1, / 3,L45
$ 3;668,b//
4,6/3,011
1,915,206
668.608
5 / 4,408
'1,8'2 /,839
4,434,439
838,168
1,6U2,339
5(4,416
$ 840,838
238,5/z
1,077, 038
(933=(31)
(8)
'1'1.9'1%
5.-11%
56.24%
-139.65%
U.UU%
Total 5 32,265,742 $ 11,499,91j $
1u,z/ /,Lu1
$ 1,LLL,/U9 10.63%
Analysis of Major Variances
In general; the major variances era a ra,alt of timing differences created between the percentage of Gadget elapsed -to -date and
actual expenditures. Highlighted variance explanations follow:
Public Safety Rad a positive variance of 5558,639. Majority of the variance wnsists of positive variances in Salaries, City of
JacRsonville Fire Contract that is billed quarterly and Liregaard Salaries that e..penae in the yammer.
Public Works Raa a negative variance of $333,943. Most of the variance is the result of the encumbrances of capital projects.
Public. Utilities had a positive $400.386 variance for the period. Most of the variance is the result of project activity ouageted that
Ras not peen startadi.,.,mpieted
Persennei Services had a positive variance of $840,838. Variance is a result of salary lapse.
Operating Expenses had a positive variancu of 5238,572. Various contractual serviceb contribute to this balance. The largest
contracts are the Fire Contract (COJ), Sanitation Contract, and Road Paving.
Capital Outlay Raa a positive variance of $1,077,038. Most at the capital and project expenditures occur in the middle to latter
part of the fiscal year.
Debi Service had a negative variance of ($933,731). The variance is the result of the City's largest annual debt payment being
paid on October 16t. $1,185,000
City of Atlantic Beach
FINANCIAL REPORT
February 2018
Cash Balarwes
Fund(s)
Geri al
Tree Replacement
convention Devel5p..ent la
Loudl Option Gas lax
Bette. Om, 1/2 Cent Sales 1 ax
Police Training, FoReiture, Grants, et,.
Capital Pmje.,ts
Utility
Sanitation
Building Code Enrorcement
Storm Water
Pension - Police
Pension - General
Prior
31/31/18
$ 8,83u,b94
(0,84U
280,193
258,936
805,suu
912:03-1
315,1tss
9, 136,432
153,142
626,028
1
,952,66
11,433,612
-I 9,52u, /5u
Total $
1.—,tal Rebt. icted Cash
Total Unrestricted t;aSn
54,956,217
Uz/z8/18
$ 8,034./45
71,427
z68,u i6
241,077
«U,04(
970,244
34U,3b1
10,153,103
165.315
668,736
2.020.802
11,070, 925
18,951 (42
$ 53,/32,239
38,703,465
$14,998,774
D�IId� Pei cent
Chdiige Change
$ (826,150) -9.36%
587 0.83%
(12,1//) -4.35%
(17,860) -6.90%
(35,453) -4.40%
(1,794) -0.18%
25,1(6 /.99%
416,671 4.28%
11.8/3 /./5°/
42,/08 6.8z%
68135 3.49%
(362,68/) -s.1 /%
(563,UU8) -2.88%
$ (1,253,9(8) -2.28°io
Cash and Investments
Account
6anR r,r Ai nen a - Dcl,ositi,i
Corporate Fixed Income - !Morgan Stanley
Gvvei ni i lent Sci.ui itites - Morgan Stanley
Cash, BDP, MMF - Morgan Stanley
SBA - Floo.ida Rime
Cash on nano
Police Pension Inv'cstm'cnta
General Pension Investments
Sobcotdl
Soototal
Total
Prior
U1/31/13
L..D. . ent
Uz/z8/18
$ 8,197,9/9 $ /,841,5/9
5,109,541 5;154,164
10,866,8z9 I U,9"14,260
161.853 51,130
z3,296 23.328
3,150 3,150
$ 24,362,648 $ 23,98/,011
$ 11,072,820
19 520./53
$ 30.593,570
$ 10,/56,606
18,95 (,142
$ 29,714;628
$ 54,95o,21 / $ 53,/02,239
D�IIa� Percent
Chdnge Change
$ (356.399) -4.35%
44,623 0.87%
4/.431 3.44%
(110,723) -68.41%
32 U.14%
u.uu%
$ (3,'5,03b)
$ (315,934)
(563,008)
$ (878,942)
$ (1,253.9/8)
-1.54%
-2.857o
-2.88%
-2.81 %
City of Atlantic Beach
FINANCIAL REPOK l
Kevenues
Fund / (Footnote)
Annual
Estimate
YTD
Estimate
YTD uullar Percent
Actual Variance Variance
Generdl
Convention Development i ax
Cocci' Option Gas Tax
Better Jai. 1/2 Ct Sales Tax
Police 1 raining, ForTeitare & Grants
l:apital Projects
utility
Sanitation
Building Code Enforcement
Storm Water
Pension - Police
Peensimn - General
$ 12,529,454
"138,355
f1.9U1
939,898
87,636
333,569
9,345,264
1,915,541
531,58/
1.48z.uu3
1,113,1 i,
$ 5.345,4 /U $ /,8U4,91 / z,459,457 46.01%
5/,b5U 54,633 (3,017) -5.23%
13ri 625 101,457 4,832 2.46%
39I_rizU 4/9;151 8/,531 11.35%
36,4x5 18.111 (18.384) -5U.3/%
138,985 126,149 k 11.83n) -9.14%
3,893,800 3,682,435 (211,365) -5.43%
802,300 806,251 3,951 0.49%
111,485 260,262 38,777 17.51%
61 /,5uu 474,001 (143;499) -23.24%
453,51U 5/1,691 107,881 23.26%
2,595,711 1,081,540
838,954 (z44,5$6)
-11.43%
Total $ 31,/u4,1Z/ $ 13.z4/,z8J $ 15,318,023 $ 2,070;743 15.63%
Analysis of Major variar!
In general, the major variances are created wnen the actual rands ,eceived-to-Oeste aye
different rrom the percentage ct the budget elapsed -to -date. Flignlignted variance e„planation0
rollovv:
General runs revenue° onovv a net positive variance of $2.459.457. Most of this variance
is doe to the timing or receipt or ad valorem taxes, the majority or which art received in
Decei .
cieneral Employee Pension Fund revenues show a net negative variance or $242,586.
i ne variance is a result ct ietarns 6eingg below expected rate ut return.
City of Atlantic Beach
FINANCIAL REPORT
Expenses
Department
Annual
Estimate
YID
Estimate
YTD
Actual
Dollar
variance
Percent
variance
Governing Body $ 4/,/e0 $
City Aar atitti 2,888;987
Geiiera' Government 2,116,40/
Planniny and Building 9/2,832
Public Safety 6.140.304
Recreation an'a 6eautiricatic i 1.4U4. /U3
Pak Works 5,952, /81
Public Utilities "10.606.693
Pension - Police /30.851
Pension -General 1,398,424
19.880
1,243,550
1.105.353
408.395
2.012.845
595,085
3,039-624
4,549,110
304490
552.655
Total $ 32,265,742
$ 14,4DU,/6(
16,//8
1,101.95b
831; 498
2b /;'288
1,854,190
437,674
3.039,024
3,730,090
316,765
503."25"2
$ 12,098,493
$ 3,102 15.60%
141.594 11.39%
273,855 24.78%
141;129 34.56%
758;455 29.03%
157;391 26.45%
1500 0.02%
819,020 18.00%
(12,275) -4.03%
/9,403 13.63%
2.362 2/4 16.34%
Resource Allocation
AnnUai
tstiMate
YID
tstimate
YID
Actual
Dollar
Variance
Percent
Variance
Personnel Services
cit tiny EApenses
Capital Outlay
Debt Service
liaiisters
$ 10,935,205 $ 4:585.081
12,857,421 5,920,945
4-/41.000 '2;400,9/1
2,005,868 835, /60
1,723,245 / 15,01 u
IWaI $ 32,265,742 $ 14,460,/6/ $
3,580;259 $
5,22 / ,938
969,938
1.802.338
/ 18,020
12,693,493
1,004,822
o93,uu /
1,431,033
(/ti6,675)
(10)
2,362,2(4
21.92%
"11./0%
59.60%
-91./"2%
16.34%
Analysis of Major Variances
In general, the major variances are a re5uit timings dittemrices created between the percentage of budget elapsed-te=date and
actual expenditures. Flighliyhted variance explanations rollovv:
veneral wove, nmant Rua a positive variance ut $273.855. Majority of the variance consists or positive variances in Salaries.
Public Safety had a positive variance or $758,455. IGlajurity uT Me variance wnsists ut pusitive variances in Salaries, City ut
JacRsunviile Fire Contract that is billed quarterly and Lifeguard Salaries Mat eApe. i5e in Me Summer.
Public utilities Rad a positive $819,020 variance Tur the periud. Must ut the variance is the result of project activity I3uagetea tRat
has not been startearcompietea
Pu.sonnel services Rada punitive variance of $1,004,822. Variance is a result or salary lapse.
Operating Expenses Raa a positive varia. ce ur $693,007. various cuntractnal services cuntribute to this balance. The largest
cuntracts are the Fir= Contract (COJ), Sanitation uontract, and R.,aa Paving.
Capital Outlay Raa a pu5itive variance et $1.431.033. Must ut the capital and project expenditures occur in Me miaale to latter
Pd rt of the fiscal year.
Debt mer vice Raa a negative variance of ($766,578). The variance is Ole result or the city's largest anneal debt payment 6eing
pain on veto/5er -i,t. $1,185,uuu