Item 6A - Finance Report for March 2018City of Atlantic Beach
FINANCIAL REPORT
March 2018
Cash BalantCzi;
Prior
Fund(z) 02128/18
ver era
Tree Replacement
Conventim Uevelop rrer t Tax
Local option Das Tax
Better Jax 1/2 Gera Sales Tax
Police Training, ForTeiture, urants, etc.
Capital Projects
Utility
galld iig Garde Entaicammit
btorm water
Pension - Poiioe
Pension -General
Account
L,urreni
U3131119
Dollar Percent
Gnanue Lnange
$ a, u / 5, Mi
$ F5,345,551
$ (232, 539)
-2.56%
/1-42/
/4.023
2.5ut
3.64%
zbi3,ulb
253,456
(14,560)
-5.43%
241.0//
2b6.b2b
15;448
6,41%
/ /u.u4/
ozu, 1 / /
50,130
6.51%
62;014
b4,b66
(/:44u)
-12.01%
34U.Z61
Zy 1, /4b
(48,515)
-14.26%
107153,103
8;13/,845
(2;U15,255)
-1U.850/
bb8,/3b
63Z,615
(36,121)
-5.40%
2,020,802
1;751531b
(260;48/)
-13.34/
I "I.0/U_y25
Vi
152,526
0.00%
18,9577742
197088,/b8
131,016
0.6uoi
ICrtal $ 53;/02,238
zli51.430.028
(2,2/2,212)
4.23%
I ctal Reztrictea GasR
38,881,001
1 otal unrestrictea Lash $12,443,021
i3anK or America - Depository
Corporate Fixed 1, oome - Mary-aii Stanley
uovernment aecuritites - Morgan Manley
Gash; BDP. ID MF-Maigan 5tariley
b6A - rloriaa Prime
Gash ori Hand
Subtotal
Police Pension Invesunents
�e��eral Pciialvn hivcatTcnt�
5.0tutal
Total
GasFi and Investments
Prior current Dollar
02/28/18 03/31/18 Change
rercer it
cnange
$
7,841,b/9
$
b; 122; 106
$
(2, 11U;4/3)
-2/.U3%
5,-154.-164
5,u18,35a
(135,805)
-2.63%
10-'J" 14.260
11.060;893
1 Z16:633
1.34%
5"I."130
bZ,ZSy
11,129
21.77%
23.328
23,363
3b
u.1 bo/
3.150
3JA ou
-
0.00%
$
2388/611
$
21.88U,13U
$
(Z,UB/,481)
-8./4/0
$
10./56,886
$
"IU.6y3,6Uy
$
(b3.Z//)
-U.Sy%
18,9575742
18,846,289
(111,453)
-0.b90
$
za,714,626
$
29,539,898
$
(1741730)
-0.59%
$
53,702,238
$
51.430;028
$
(Z,Z/2"212)
-4.Z31/0
Fund / (Footnote)
General
Gonvention Development Tax
Local Option Gas Tax
Better Jax 1/2 Cit Sales I ax
Police I raining; rorffeitore & Grants
Capital Projects
utility
Janitation
esuiZing i✓oae Enforcement
Storm Water
Pension - Police
Pension - General
City of Atlantic Beach
FINANCIAL REPORT
March 2018
Revenues
Annual YTD YTD Dollar Percent
Estimate Eatimate Actual Variance Variance
12,S2y,454
$ b74"14-564
$ 5.4y1,040
$ 2,082,476
32.46%
138;366
ua;18u
b3,4US
(x,172)
-8.34%
411.yU1
235.a5u
236.264
314
0.13%
a3a:S98
46y,tA4
542,540
72,596
15.45%
5/,636
43,794
23,843
(19;951)
-45.56%
333,569
166,782
151,428
(15;354)
-V.210/
9;345;164
4,612,560
4;43/,333
(z ,ZZ1
-5.03%
1,925,541
962,760
y131,4y4
(1,2bb)
-U."13 %
531.587
265.182
310.520
5u_ / 35
1 x.09%
1;482,003
141;UUU
5/3368
(16/,632)
-22.62%
1,113,197
556,572
782,128
225,556
40.530/
2.5y5_/ 1 1
1.2x1.545
1,404,593
1065745
8.22%
Total $ 31,fU4,1z/
4) 15.139b,/3b
$ i/,yux,y5x
$ 2,093,223
13.17%
Analysis of Major Variances
I, yencral, the rmajur varianeus arm creates when tRe actual funds received -to -date are
airr�r�nt Tr. m tMe percentage OT tRe budget elapsed -to -date. Highlighted variance explanation
TOIIOW:
Gellefal Fund revenges ahuw a net positive variance OT $ 21082,476. Muot .,T this
variaiiee is Une tu the tirnin-y Ut r.Coipt .,T as valurum ta.ea, the majority OT WRich are
rucuivuZi in uecemFcr.
utility Fund reflected a negative variance of $ 235;227. This neyative balance is related to
timing of billing periods and shuold wash oat next munth.
Pensiui, Funds retleete8 positive varia Ces cT $ 225,556. 1 Ria variance ;s a resclt OT
marRet perrurrrlance above M. 7% a33uIT1ca rato uT return.
City of Atlantic Beach
FINANCIAL REPORT
Expenses
Annual Y l u Y r u Dollar Percent
uepartment Estimate Estimate Actual variance Variance
Governing body
City Administration
General Government
Planning and Building
Po5lic sarety
R.creatian a d Suautirication
Public Works
Po61ic: utiiitieci
P-51on - Police
Pension - General
$ 41; /Bu 11P
23.8015 $
20,627 $
3,229
13.b40/
2:SSS,aB/
1,4923260
1,399;278
a2,a82
6.23ro
2;116-401
1:33"I:/a3
928,550
403,243
30.280/
ail -832
4au,u/4
357,024
133,050
21.150/
6,1464304
3,13b,1 14
2.620: 11 a
oUu,455
16.25%
1,404,703
/14:0/8
530.354
183,224
25.66%
5.a52 /81
3, 114,216
3,528,803
18b,413
4.uu%
10,606,693
b;4b8,a32
4:3d3:a/ZS
1,094,954
20.06%
13U -Bbl
360;388
3/4,481
(9,093)
-2.49%
1.3x8.424
699,186
599,271
a9_91 b
14.2a ro
Imetal $ 3Y,Y60,/4L $
17,424,957 $
14-728,585 $
Z.6us 3/Z
10.4/-/0
Annual r r u YTD Dollar Nei cunt
Resource Allocation Estimate Estimate AUTual Variance Variance
Personnel Services
1u:a38,2U8 $
b:4ax,u4x $
4,988,936 $
510,113
x.23%
ONarating ExNenses
12,857,421
7,214,991
6,U43,11U2
1,1 /1,x8y
-16.24%
unpitaluutlay
4;141,UUlJ
2:84b:3a3
1:11u'U-65
1,736;325
61.00%
Debt Service
2.0008&8
11002,912
1,7243955
(72L,u�F3)
-/1.UU%
Transfers
1./23.245
861,612
8617624
(12)
0.00%
Imetal $ 3Y,L60,/4L $
17,424,957 $
14,728,585 $
Z;6u(5.3/2
15.4/70
Analysis of Major Variances
In general; the major variances are a r;salt at timing ditterenc�s crated bc;twec;n the percentage of budget elapsed -to -date and
artaal expenditares. Highlighted variantic z::,.pianations roliow:
General Government had a positive variance at $403,243. Majority or the „ariance consists of the new Enterprise Sottwarc
Project whish will be advertised 4/18, the buluncc; is salary lapse.
Public Safety had a positive variance at $509,455. Majority at the vurian= consists or positive variances in Salaries; City of
Jacksonville Fire Contract that is billed goarteriy and UMguard salaries that expense in the sorrimer.
Public Utilities had a positive $1.094,954 varlance for the period. Mast ar the „ariance is the result of project activity bodgcted
that has not been startcamn,,ipret-d.
Personnel Services had a positive variance of $510,113. Variance is a reoalt ar salary rapse.
Opu,utti.ig E. punaus had a positive variance of $1;171,989. Varioas contractaal se vices contribut� to this balance. The largest
contracts are the Fire Contract. (COJ), Sanitation Contract- and Road Paving.
Capitol O„ tray had a positive variance of $1,136.32a. Most at the capital and project expenditor�s accor in the iddlc; to iatter
part of the fiscal year.
Dart Sur4;z;u had a negative variance of ($122.0zF3). The variance is the resalt at the City's largest a nial deot payment oeing
paid on October 1-t.