December 31, 2008
MEMORANDUM Finance Department 2. Total operating expenditures not including capital or debt are 2% or $5,000 lower than the same period last year. The Wastewater operations division has seen significant increase in expenditures relating to the cost of transmitting wastewater to the City of Lake Worth. The cost per thousand gallons in FY 08 was $1.39. In FY 09, that cost increased to $2.26. 3. Net loss for the period is $38,668, compared to a net income of $113,428 last year.
TRANSPORTATION FUND 1. Total revenues for the period are down $6,000 compared to the same period last year. This is partly due to the reduction in gas tax revenue and unrealized loss on investments. 2. Operating expenditures have decreased by $1,900 or 7.5%. A reduction in maintenance expenditures is the primary reason for this reduction. 3. Net loss for the period is $80,000 compared to a net loss of $75,500 last year.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates to almost zero. Currently, the Town’s funds are in LGIP, Sterling Bank, and SunTrust, with the majority in SunTrust. Both SunTrust and Sterling banks are participants in the Qualified Pubic Depository program whereby our funds are guaranteed 100% above the $100k insured by the FDIC.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following funds: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
-2-
MEMORANDUM Finance Department STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. At the end of December, we had $488,713 in the pool which is liquid and available for withdrawal. It is recommended to leave these funds in this investment as a part of geographical diversification. In Pool B, the Town’s balance was $442,057 which is not liquid and is not available for withdrawal. Unfortunately, the unrealized loss is currently $147,410.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
-4-
$
8,249,067 4,256,351 (34,504) 11,761 313,472 143,790 12,939,937
Prior Year
$
$
6,289,977 7,504,477 34,557 10,471 331,608 75,049 14,246,139
259,865 8,496
907,368 7,331
162,316 430,677
142,100 1,056,799
510,314 -
437,432 -
11,998,946 12,509,260 12,939,937
12,751,908 13,189,340 14,246,139
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2008
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 5,245,000 390,750 1,151,000 1,361,830 98,000 676,070 135,483 9,058,133
$ 2,517,646 212,349 129,715 638,898 20,817 120,506 3,639,931
1,019,347 4,074,580 657,451 925,281 1,863,994 1,052,128
208,810 885,593 136,658 185,405 343,038 191,099
810,537 3,188,987 520,793 739,876 1,520,956 861,029
176,878 2,467,106 196,358 219,778 352,764 48,844
122,500 100,000 9,815,281
60,979 2,011,582
61,521 100,000 7,803,699
60,979 3,522,707
(757,148)
1,628,349
2,385,497
2,902,887
(350,000) 1,107,148 757,148
11,000 11,000
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
$ (2,727,354) (178,401) (1,021,285) (722,932) (77,183) (555,564) (5,282,719)
11,000 350,000 (1,107,148) (746,148)
$ 5,126,341 232,832 134,518 622,044 95,705 214,154 6,425,594
7,018 7,018
1,639,349
2,909,905
10,869,911 $ 12,509,260
10,279,435 $ 13,189,340
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget
Actual
$ 3,130,000 760,000 940,000 415,000 5,245,000
$ 2,199,256 75,674 166,909 75,807 2,517,646
219,000 171,750 390,750
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (930,744) (684,326) (773,091) (339,193) (2,727,354)
$ 4,789,561 65,646 177,771 93,363 5,126,341
178,987 33,362 212,349
(40,013) (138,388) (178,401)
181,446 51,386 232,832
110,000 300,000 10,000 9,000 700,000 22,000 1,151,000
72,854 7,841 49,020 129,715
(110,000) (227,146) (2,159) (9,000) (650,980) (22,000) (1,021,285)
83,720 13,144 2,619 35,035 134,518
718,000 97,000 500,330 46,500 1,361,830
140,159 18,668 468,349 11,722 638,898
(577,841) (78,332) (31,981) (34,778) 722,932
151,622 19,991 439,051 11,380 622,044
98,000
20,817
(77,183)
95,705
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
390,000 187,200 73,920 14,950 10,000 676,070
2,189 39,425 500 46,402 14,954 17,036 120,506
(387,811) (147,775) 500 (27,518) 4 7,036 (555,564)
80,397 36,529 13,520 64,289 14,954 4,465 214,154
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
1,107,148 135,483 1,242,631 $ 10,165,281
11,000 11,000 $ 3,650,931
11,000 (1,107,148) (135,483) (1,231,631) $ (6,514,350)
7,018 7,018 $ 6,432,612
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
-6-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget General government: Legislative: Personal services Operating Total Legislative
$
76,830 11,700 88,530
$
18,893 4,550 23,443
Variance Favorable (Unfavorable)
$
57,937 7,150 65,087
Prior Year Actual
$
18,507 4,687 23,194
Executive: Personal services Operating Capital Total Executive
109,620 26,490 89,205 225,315
26,468 5,328 1,721 33,517
83,152 21,162 87,484 191,798
19,979 4,392 2,668 27,039
Town Clerk: Personal services Operating Capital Total Town Clerk
51,340 19,430 70,770
10,735 969 11,704
40,605 18,461 59,066
11,406 4,319 15,725
Financial Administration: Personal services Operating Capital Total Financial Administration
239,302 123,625 25,535 388,462
48,974 48,923 1,296 99,193
190,328 74,702 24,239 289,269
42,758 42,940 85,698
Legal Counsel: Personal services Operating Total Legal Counsel
13,720 120,395 134,115
3,069 27,604 30,673
10,651 92,791 103,442
3,248 20,540 23,788
226,895 52,980 279,875 1,187,067
13,297 13,297 211,827
213,598 52,980 266,578 975,240
4,102 4,102 179,546
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-7-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
332,182 74,380 406,562
73,201 43,791 116,992
258,981 30,589 289,570
69,397 42,508 111,905
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
2,358,022 218,390 92,393 2,668,805
489,265 37,182 11,735 538,182
1,868,757 181,208 80,658 2,130,623
550,476 37,257 38,150 625,883
Services: Personal services Operating Capital Total Police Services
576,340 151,400 489,615 1,217,355
129,238 32,270 6,406 167,914
447,102 119,130 483,209 1,049,441
130,012 34,139 2,000 166,151
343,896 19,970 31,660 395,526
76,190 4,456 80,646
267,706 15,514 31,660 314,880
67,088 1,539 68,627
-
-
-
1,534,690
4,688,248
903,734
3,784,514
2,507,256
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
160,366 14,860 175,226
34,521 2,892 37,413
125,845 11,968 137,813
34,144 43,527 77,671
Building Inspections: Personal services Operating Capital Total Building Inspections
119,211 158,890 278,101
25,131 31,741 56,872
94,080 127,149 221,229
50,713 25,467 76,180
Code Enforcement: Personal services Operating Capital Total Code Enforcement
184,424 19,700 204,124
38,492 3,881 42,373
145,932 15,819 161,751
39,437 3,070 42,507
Total Development Services
657,451
136,658
520,793
196,358
31,417 18,920 50,337
6,764 2,078 8,842
24,653 16,842 41,495
17,425 2,460 19,885
74,017 16,730 6,200 96,947
14,052 3,374 1,953 19,379
59,965 13,356 4,247 77,568
15,712 5,330 21,042
Physical Environment: Utilities Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
232,908 121,300 354,208
44,528 22,869 67,397
188,380 98,431 286,811
56,583 18,390 74,973
Trash Collection: Personal services Operating Capital Total Trash Collection
231,568 122,550 354,118
55,556 22,126 77,682
176,012 100,424 276,436
62,627 19,398 82,025
Recycling Collection: Personal services Operating Capital Total Recycling Collection
56,011 19,860 75,871
10,379 3,679 14,058
45,632 16,181 61,813
18,165 3,688 21,853
Total Physical Environment
931,481
187,358
744,123
219,778
Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
42,610 63,401 122,500 228,511
9,838 9,736 60,979 80,553
32,772 53,665 61,521 147,958
39,170 16,151 60,979 116,300
Library: Personal services Operating Capital Total library Services
112,669 48,133 25,200 186,002
22,879 7,741 7,344 37,964
89,790 40,392 17,856 148,038
28,174 6,966 6,026 41,166
Marine Services: Personal services Operating Capital Total Marine Services
301,452 23,062 6,500 331,014
61,810 2,988 64,798
239,642 20,074 6,500 266,216
79,558 3,629 83,187
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
385,943 366,639 112,030 864,612
88,133 40,387 138,170 266,690
297,810 326,252 (26,140) 597,922
44,505 43,883 88,388
Building Maintenance: Personal services Operating
254,176 185,909
55,344 33,601
198,832 152,308
38,771 31,757
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Capital Total Building Maintenance
Budget 120,810 560,895
Actual 22,474 111,419
Variance Favorable (Unfavorable) 98,336 449,476
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
80,000 80,000 2,251,034
10,581 10,581 572,005
69,419 69,419 1,679,029
20,200 20,200 419,769
350,000 100,000 $ 10,165,281
$ 2,011,582
350,000 100,000 8,153,699
3,522,707
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
- 11 -
$
Prior Year Actual 70,528
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Construction in progress Less accumulated depreciation Net fixed assets Unamortized bond costs Total assets and other debits
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
$ - 12 -
5,861,742 331,957 121,304 454,696 6,769,699
Prior Year
$
3,130,261 2,633,782 137,821 503,148 6,405,012
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
1,766,177 19,477,427
1,933,150 19,934,939
$
377,997 2,927,389 169,799
52,118 3,159,744 170,048
141,303 158,398 6,430,000 10,204,886
120,790 152,056 6,785,000 10,439,756
2,445,897 2,326,068 4,500,576 9,272,541
2,445,897 2,200,495 4,848,791 9,495,183
19,477,427
$
19,934,939
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues
$ (1,724,927) (1,935,542) (452,775) (4,113,244)
799,209 1,584,810 2,384,019
178,173 359,267 537,440
621,036 1,225,543 1,846,579
199,836 230,818 430,654
870,529
209,878
660,651
214,943
Debt Services Capital outlay
1,047,500 1,725,587 2,773,087
170,331 10,649 180,980
877,169 1,714,938 2,592,107
170,579 17,559 188,138
Total operating expenses
6,027,635
928,298
5,099,337
833,735
(1,003,285)
(17,192)
(9,212,581)
83,989
125,000 878,285
(21,476) -
(146,476) (878,285)
29,439 -
1,003,285
(21,476)
(1,024,761)
29,439
-
(38,668)
(38,668)
113,428
Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward Total non-operating revenues (expenses) Net income/(loss)
2,157,100 2,385,000 482,250 5,024,350
Net assets, beginning Net assets, ending
$
Prior YTD Actual
432,173 449,458 29,475 911,106
Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
Variance Favorable (Unfavorable)
$
- 13 -
9,311,209 9,272,541
$
$
430,538 459,877 27,309 917,724
9,381,755 9,495,183
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
51,205 9,300 60,505
$
12,599 3,979 16,578
Variance Favorable (Unfavorable)
$
38,606 5,321 43,927
$
12,339 3,108 15,447
109,620 26,490 136,110
26,791 4,988 31,779
104,331
27,721 5,443 33,164
Town Clerk: Personal services Operating
33,580 14,530
7,157 716
26,423 13,814
7,603 2,885
Total Town Clerk
48,110
7,873
40,237
10,488
403,294 158,105 19,855 581,254
85,424 59,928 145,352
317,870 98,177 19,855 435,902
90,829 56,562 894 148,285
3,220 28,930 32,150
784 4,955 5,739
2,436 23,975 26,411
828 4,526 5,354
12,400 12,400
2,557 2,557
9,843 9,843
2,205 2,205
870,529
209,878
660,651
214,943
Total executive
Financial administration: Personal services Operating Capital Total Financial Administration Legal: Personal services Operating Total Legal Non Departmental: Personal services Operating Capital Total Non Departmental Total Administrative
- 14 -
82,829 21,502 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Operations Utilities Administration Personal services Operating Capital
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
131,211 18,920 150,131
29,120 2,226 31,346
102,091 16,694 118,785
17,424 2,506 19,930
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
-
-
-
19,074 11,598 30,672
Building Maintenance Personal services Operating Total Building Maintenance
-
-
-
16,622 12,879 29,501
74,017 16,730 90,747
14,052 2,028 16,080
59,965 14,702 74,667
15,711 2,365 5,412 23,488
388,522 502,300 1,182,462 2,073,284
89,849 101,125 7,833 198,807
298,673 401,175 1,174,629 1,874,477
85,903 110,649 1,806 198,358
205,459 1,046,860 543,125 1,795,444
45,152 253,888 2,816 301,856
160,307 792,972 540,309 1,493,588
45,102 90,821 10,341 146,264
Total operations
4,109,606
548,089
3,561,517
448,213
Debt Services Contingency
1,047,500 -
170,331 -
877,169 -
170,579 -
Total Public Works Administration
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
$ 6,027,635
- 15 -
$
928,298
$
5,099,337
$
833,735
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
768,527 31,544 800,071
Prior Year
$
439,914 60,867 500,781
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
2,458 2,458
172 172
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
797,613 797,613
500,609 500,609
Total Liabilities and Equity
$
- 16 -
800,071
$
500,781
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended December 31, 2008
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
247,000 9,000 391,550 5,155 350,000
$
21,444 (1,326) -
$
(225,556) (10,326) -
$
23,884 2,553 -
1,002,705
20,118
(235,882)
26,437
5,155 132,000 5,600 2,300 300 60,000 2,700 600 208,655
18,657 1,975 242 60 1,537 554 194 23,219
5,155 113,343 3,625 2,058 240 58,463 2,146 406 185,436
18,270 1,975 305 60 4,076 420 25,106
485,550 308,500 794,050
76,894 76,894
485,550 231,606 717,156
76,894 76,894
-
-
-
-
1,002,705
100,113
1,082,873
102,000
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year
-
(79,995)
877,608
FUND BALANCE, END OF PERIOD
(75,563)
877,608 $
- 17 -
(79,995)
797,613
576,172 $
500,609
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing December 31, 2008 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
Total
2.01%
1.42%
1.02%
1.48%
395,253
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
395,590
395,824
395,253
-
-
-
-
(1) 338
(1) 235
(1) 181
(3) 754
395,590
395,824
396,004
396,004
410,048
410,398
410,641
410,048
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
(1) 351
(1) 244
(1) 188
(3) 782
410,398
410,641
410,828
410,828
15,244
15,256
15,264
15,244
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 13
(1) 9
(1) 7
(3) 29
15,256
15,264
15,270
15,270
61,127
61,178
61,214
61,127
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 52
(1) 36
(1) 28
(3) 117
61,178
61,214
61,241
61,241
8,969
8,976
8,980
8,969
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 8
(1) 5
(1) 4
(3) 17
8,976
8,980
8,983
8,983
37,439
37,470
37,491
37,439
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges
- 18 - (1)
(1)
(1)
(3)
October Investment Earnings Ending Bal.
November
December
Total
32
22
17
71
37,470
37,491
37,507
37,507
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
794 (6) 788
553 (6) 547
424 (6) 418
1,771 (18) 1,753
337 420 31 788
234 291 21 547
180 222 16 418
751 933 68 1,753
Sterling Bank MMDA Investment Rate Beginning Bal.
2.90% 3,905,530
Transfers In (Out) Investment Earnings
2.79% 3,915,037
2.79% 3,923,305
2.83% 3,905,530
9,508
8,268
9,766
27,541
3,915,037
3,923,305
3,933,071
3,933,071
9,508
8,268
9,766
27,541
0.830% 4,823 4,421 592 219 (1,093)
0.210% 1,144 1,296 138 52 (822)
0.160% 1,074 1,038 100 38 (727)
(2,641)
8,962
1,807
1,523
11,983
Operating Water Plant Reserve
13,779,824 368,935
13,776,919 369,238
15,941,131 369,518
Ending Balances
14,148,759
14,146,157
16,310,649
Ending Bal. General Fund Investment Earnings
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Other Funds Bank Charges Investment Earnings
0.40% 7,040 6,754 830
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
14,667 4,840 623 20,131
- 19 -
$
9,645 1,587 159 11,391
$
11,020 1,260 116 12,396
$
35,332 7,687 898 43,918
INVESTMENT EARNINGS 15,000 13,000
9,000 7,000 5,000 3,000 1,000
Nov General Fund
Utility Fund
- 20 -
Dec
(1,000)
Oct
Thousands
11,000
Transportation Fund
TRANSPORTATION FUND 1. Total revenues for the period are down $6,000 compared to the same period last year. This is partly due to the reduction in gas tax revenue and unrealized loss on investments. 2. Operating expenditures have decreased by $1,900 or 7.5%. A reduction in maintenance expenditures is the primary reason for this reduction. 3. Net loss for the period is $80,000 compared to a net loss of $75,500 last year.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates to almost zero. Currently, the Town’s funds are in LGIP, Sterling Bank, and SunTrust, with the majority in SunTrust. Both SunTrust and Sterling banks are participants in the Qualified Pubic Depository program whereby our funds are guaranteed 100% above the $100k insured by the FDIC.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following funds: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
-2-
MEMORANDUM Finance Department STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. At the end of December, we had $488,713 in the pool which is liquid and available for withdrawal. It is recommended to leave these funds in this investment as a part of geographical diversification. In Pool B, the Town’s balance was $442,057 which is not liquid and is not available for withdrawal. Unfortunately, the unrealized loss is currently $147,410.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
-4-
$
8,249,067 4,256,351 (34,504) 11,761 313,472 143,790 12,939,937
Prior Year
$
$
6,289,977 7,504,477 34,557 10,471 331,608 75,049 14,246,139
259,865 8,496
907,368 7,331
162,316 430,677
142,100 1,056,799
510,314 -
437,432 -
11,998,946 12,509,260 12,939,937
12,751,908 13,189,340 14,246,139
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2008
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 5,245,000 390,750 1,151,000 1,361,830 98,000 676,070 135,483 9,058,133
$ 2,517,646 212,349 129,715 638,898 20,817 120,506 3,639,931
1,019,347 4,074,580 657,451 925,281 1,863,994 1,052,128
208,810 885,593 136,658 185,405 343,038 191,099
810,537 3,188,987 520,793 739,876 1,520,956 861,029
176,878 2,467,106 196,358 219,778 352,764 48,844
122,500 100,000 9,815,281
60,979 2,011,582
61,521 100,000 7,803,699
60,979 3,522,707
(757,148)
1,628,349
2,385,497
2,902,887
(350,000) 1,107,148 757,148
11,000 11,000
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
$ (2,727,354) (178,401) (1,021,285) (722,932) (77,183) (555,564) (5,282,719)
11,000 350,000 (1,107,148) (746,148)
$ 5,126,341 232,832 134,518 622,044 95,705 214,154 6,425,594
7,018 7,018
1,639,349
2,909,905
10,869,911 $ 12,509,260
10,279,435 $ 13,189,340
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget
Actual
$ 3,130,000 760,000 940,000 415,000 5,245,000
$ 2,199,256 75,674 166,909 75,807 2,517,646
219,000 171,750 390,750
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (930,744) (684,326) (773,091) (339,193) (2,727,354)
$ 4,789,561 65,646 177,771 93,363 5,126,341
178,987 33,362 212,349
(40,013) (138,388) (178,401)
181,446 51,386 232,832
110,000 300,000 10,000 9,000 700,000 22,000 1,151,000
72,854 7,841 49,020 129,715
(110,000) (227,146) (2,159) (9,000) (650,980) (22,000) (1,021,285)
83,720 13,144 2,619 35,035 134,518
718,000 97,000 500,330 46,500 1,361,830
140,159 18,668 468,349 11,722 638,898
(577,841) (78,332) (31,981) (34,778) 722,932
151,622 19,991 439,051 11,380 622,044
98,000
20,817
(77,183)
95,705
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
390,000 187,200 73,920 14,950 10,000 676,070
2,189 39,425 500 46,402 14,954 17,036 120,506
(387,811) (147,775) 500 (27,518) 4 7,036 (555,564)
80,397 36,529 13,520 64,289 14,954 4,465 214,154
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
1,107,148 135,483 1,242,631 $ 10,165,281
11,000 11,000 $ 3,650,931
11,000 (1,107,148) (135,483) (1,231,631) $ (6,514,350)
7,018 7,018 $ 6,432,612
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
-6-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget General government: Legislative: Personal services Operating Total Legislative
$
76,830 11,700 88,530
$
18,893 4,550 23,443
Variance Favorable (Unfavorable)
$
57,937 7,150 65,087
Prior Year Actual
$
18,507 4,687 23,194
Executive: Personal services Operating Capital Total Executive
109,620 26,490 89,205 225,315
26,468 5,328 1,721 33,517
83,152 21,162 87,484 191,798
19,979 4,392 2,668 27,039
Town Clerk: Personal services Operating Capital Total Town Clerk
51,340 19,430 70,770
10,735 969 11,704
40,605 18,461 59,066
11,406 4,319 15,725
Financial Administration: Personal services Operating Capital Total Financial Administration
239,302 123,625 25,535 388,462
48,974 48,923 1,296 99,193
190,328 74,702 24,239 289,269
42,758 42,940 85,698
Legal Counsel: Personal services Operating Total Legal Counsel
13,720 120,395 134,115
3,069 27,604 30,673
10,651 92,791 103,442
3,248 20,540 23,788
226,895 52,980 279,875 1,187,067
13,297 13,297 211,827
213,598 52,980 266,578 975,240
4,102 4,102 179,546
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-7-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
332,182 74,380 406,562
73,201 43,791 116,992
258,981 30,589 289,570
69,397 42,508 111,905
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
2,358,022 218,390 92,393 2,668,805
489,265 37,182 11,735 538,182
1,868,757 181,208 80,658 2,130,623
550,476 37,257 38,150 625,883
Services: Personal services Operating Capital Total Police Services
576,340 151,400 489,615 1,217,355
129,238 32,270 6,406 167,914
447,102 119,130 483,209 1,049,441
130,012 34,139 2,000 166,151
343,896 19,970 31,660 395,526
76,190 4,456 80,646
267,706 15,514 31,660 314,880
67,088 1,539 68,627
-
-
-
1,534,690
4,688,248
903,734
3,784,514
2,507,256
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
160,366 14,860 175,226
34,521 2,892 37,413
125,845 11,968 137,813
34,144 43,527 77,671
Building Inspections: Personal services Operating Capital Total Building Inspections
119,211 158,890 278,101
25,131 31,741 56,872
94,080 127,149 221,229
50,713 25,467 76,180
Code Enforcement: Personal services Operating Capital Total Code Enforcement
184,424 19,700 204,124
38,492 3,881 42,373
145,932 15,819 161,751
39,437 3,070 42,507
Total Development Services
657,451
136,658
520,793
196,358
31,417 18,920 50,337
6,764 2,078 8,842
24,653 16,842 41,495
17,425 2,460 19,885
74,017 16,730 6,200 96,947
14,052 3,374 1,953 19,379
59,965 13,356 4,247 77,568
15,712 5,330 21,042
Physical Environment: Utilities Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Actual
Budget
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
232,908 121,300 354,208
44,528 22,869 67,397
188,380 98,431 286,811
56,583 18,390 74,973
Trash Collection: Personal services Operating Capital Total Trash Collection
231,568 122,550 354,118
55,556 22,126 77,682
176,012 100,424 276,436
62,627 19,398 82,025
Recycling Collection: Personal services Operating Capital Total Recycling Collection
56,011 19,860 75,871
10,379 3,679 14,058
45,632 16,181 61,813
18,165 3,688 21,853
Total Physical Environment
931,481
187,358
744,123
219,778
Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
42,610 63,401 122,500 228,511
9,838 9,736 60,979 80,553
32,772 53,665 61,521 147,958
39,170 16,151 60,979 116,300
Library: Personal services Operating Capital Total library Services
112,669 48,133 25,200 186,002
22,879 7,741 7,344 37,964
89,790 40,392 17,856 148,038
28,174 6,966 6,026 41,166
Marine Services: Personal services Operating Capital Total Marine Services
301,452 23,062 6,500 331,014
61,810 2,988 64,798
239,642 20,074 6,500 266,216
79,558 3,629 83,187
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
385,943 366,639 112,030 864,612
88,133 40,387 138,170 266,690
297,810 326,252 (26,140) 597,922
44,505 43,883 88,388
Building Maintenance: Personal services Operating
254,176 185,909
55,344 33,601
198,832 152,308
38,771 31,757
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2008
Capital Total Building Maintenance
Budget 120,810 560,895
Actual 22,474 111,419
Variance Favorable (Unfavorable) 98,336 449,476
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
80,000 80,000 2,251,034
10,581 10,581 572,005
69,419 69,419 1,679,029
20,200 20,200 419,769
350,000 100,000 $ 10,165,281
$ 2,011,582
350,000 100,000 8,153,699
3,522,707
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
- 11 -
$
Prior Year Actual 70,528
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Construction in progress Less accumulated depreciation Net fixed assets Unamortized bond costs Total assets and other debits
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
$ - 12 -
5,861,742 331,957 121,304 454,696 6,769,699
Prior Year
$
3,130,261 2,633,782 137,821 503,148 6,405,012
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
1,766,177 19,477,427
1,933,150 19,934,939
$
377,997 2,927,389 169,799
52,118 3,159,744 170,048
141,303 158,398 6,430,000 10,204,886
120,790 152,056 6,785,000 10,439,756
2,445,897 2,326,068 4,500,576 9,272,541
2,445,897 2,200,495 4,848,791 9,495,183
19,477,427
$
19,934,939
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues
$ (1,724,927) (1,935,542) (452,775) (4,113,244)
799,209 1,584,810 2,384,019
178,173 359,267 537,440
621,036 1,225,543 1,846,579
199,836 230,818 430,654
870,529
209,878
660,651
214,943
Debt Services Capital outlay
1,047,500 1,725,587 2,773,087
170,331 10,649 180,980
877,169 1,714,938 2,592,107
170,579 17,559 188,138
Total operating expenses
6,027,635
928,298
5,099,337
833,735
(1,003,285)
(17,192)
(9,212,581)
83,989
125,000 878,285
(21,476) -
(146,476) (878,285)
29,439 -
1,003,285
(21,476)
(1,024,761)
29,439
-
(38,668)
(38,668)
113,428
Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward Total non-operating revenues (expenses) Net income/(loss)
2,157,100 2,385,000 482,250 5,024,350
Net assets, beginning Net assets, ending
$
Prior YTD Actual
432,173 449,458 29,475 911,106
Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
Variance Favorable (Unfavorable)
$
- 13 -
9,311,209 9,272,541
$
$
430,538 459,877 27,309 917,724
9,381,755 9,495,183
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
51,205 9,300 60,505
$
12,599 3,979 16,578
Variance Favorable (Unfavorable)
$
38,606 5,321 43,927
$
12,339 3,108 15,447
109,620 26,490 136,110
26,791 4,988 31,779
104,331
27,721 5,443 33,164
Town Clerk: Personal services Operating
33,580 14,530
7,157 716
26,423 13,814
7,603 2,885
Total Town Clerk
48,110
7,873
40,237
10,488
403,294 158,105 19,855 581,254
85,424 59,928 145,352
317,870 98,177 19,855 435,902
90,829 56,562 894 148,285
3,220 28,930 32,150
784 4,955 5,739
2,436 23,975 26,411
828 4,526 5,354
12,400 12,400
2,557 2,557
9,843 9,843
2,205 2,205
870,529
209,878
660,651
214,943
Total executive
Financial administration: Personal services Operating Capital Total Financial Administration Legal: Personal services Operating Total Legal Non Departmental: Personal services Operating Capital Total Non Departmental Total Administrative
- 14 -
82,829 21,502 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2008
Budget Operations Utilities Administration Personal services Operating Capital
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
131,211 18,920 150,131
29,120 2,226 31,346
102,091 16,694 118,785
17,424 2,506 19,930
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
-
-
-
19,074 11,598 30,672
Building Maintenance Personal services Operating Total Building Maintenance
-
-
-
16,622 12,879 29,501
74,017 16,730 90,747
14,052 2,028 16,080
59,965 14,702 74,667
15,711 2,365 5,412 23,488
388,522 502,300 1,182,462 2,073,284
89,849 101,125 7,833 198,807
298,673 401,175 1,174,629 1,874,477
85,903 110,649 1,806 198,358
205,459 1,046,860 543,125 1,795,444
45,152 253,888 2,816 301,856
160,307 792,972 540,309 1,493,588
45,102 90,821 10,341 146,264
Total operations
4,109,606
548,089
3,561,517
448,213
Debt Services Contingency
1,047,500 -
170,331 -
877,169 -
170,579 -
Total Public Works Administration
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
$ 6,027,635
- 15 -
$
928,298
$
5,099,337
$
833,735
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) December 31, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
768,527 31,544 800,071
Prior Year
$
439,914 60,867 500,781
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
2,458 2,458
172 172
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
797,613 797,613
500,609 500,609
Total Liabilities and Equity
$
- 16 -
800,071
$
500,781
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended December 31, 2008
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
247,000 9,000 391,550 5,155 350,000
$
21,444 (1,326) -
$
(225,556) (10,326) -
$
23,884 2,553 -
1,002,705
20,118
(235,882)
26,437
5,155 132,000 5,600 2,300 300 60,000 2,700 600 208,655
18,657 1,975 242 60 1,537 554 194 23,219
5,155 113,343 3,625 2,058 240 58,463 2,146 406 185,436
18,270 1,975 305 60 4,076 420 25,106
485,550 308,500 794,050
76,894 76,894
485,550 231,606 717,156
76,894 76,894
-
-
-
-
1,002,705
100,113
1,082,873
102,000
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year
-
(79,995)
877,608
FUND BALANCE, END OF PERIOD
(75,563)
877,608 $
- 17 -
(79,995)
797,613
576,172 $
500,609
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing December 31, 2008 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
Total
2.01%
1.42%
1.02%
1.48%
395,253
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
395,590
395,824
395,253
-
-
-
-
(1) 338
(1) 235
(1) 181
(3) 754
395,590
395,824
396,004
396,004
410,048
410,398
410,641
410,048
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
(1) 351
(1) 244
(1) 188
(3) 782
410,398
410,641
410,828
410,828
15,244
15,256
15,264
15,244
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 13
(1) 9
(1) 7
(3) 29
15,256
15,264
15,270
15,270
61,127
61,178
61,214
61,127
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 52
(1) 36
(1) 28
(3) 117
61,178
61,214
61,241
61,241
8,969
8,976
8,980
8,969
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 8
(1) 5
(1) 4
(3) 17
8,976
8,980
8,983
8,983
37,439
37,470
37,491
37,439
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges
- 18 - (1)
(1)
(1)
(3)
October Investment Earnings Ending Bal.
November
December
Total
32
22
17
71
37,470
37,491
37,507
37,507
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
794 (6) 788
553 (6) 547
424 (6) 418
1,771 (18) 1,753
337 420 31 788
234 291 21 547
180 222 16 418
751 933 68 1,753
Sterling Bank MMDA Investment Rate Beginning Bal.
2.90% 3,905,530
Transfers In (Out) Investment Earnings
2.79% 3,915,037
2.79% 3,923,305
2.83% 3,905,530
9,508
8,268
9,766
27,541
3,915,037
3,923,305
3,933,071
3,933,071
9,508
8,268
9,766
27,541
0.830% 4,823 4,421 592 219 (1,093)
0.210% 1,144 1,296 138 52 (822)
0.160% 1,074 1,038 100 38 (727)
(2,641)
8,962
1,807
1,523
11,983
Operating Water Plant Reserve
13,779,824 368,935
13,776,919 369,238
15,941,131 369,518
Ending Balances
14,148,759
14,146,157
16,310,649
Ending Bal. General Fund Investment Earnings
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Other Funds Bank Charges Investment Earnings
0.40% 7,040 6,754 830
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
14,667 4,840 623 20,131
- 19 -
$
9,645 1,587 159 11,391
$
11,020 1,260 116 12,396
$
35,332 7,687 898 43,918
INVESTMENT EARNINGS 15,000 13,000
9,000 7,000 5,000 3,000 1,000
Nov General Fund
Utility Fund
- 20 -
Dec
(1,000)
Oct
Thousands
11,000
Transportation Fund
