December 31, 2014
INVESTMENT REPORT On December 31st, the Town’s funds were in the Florida Local Government Surplus Trust Funds Investment Pool (Florida Prime), TD Bank, and SunTrust, with the majority at SunTrust. A new SunTrust account was opened to differentiate confiscated funds associated with an open police investigation. As of the date of this memorandum, SunTrust and TD Bank continue to participate in the Qualified Public Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, both SunTrust and TD Bank possess a four-star rating from BauerFinancial which indicates the banks are in excellent financial condition. OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me at (561) 540-5035.
STATE BOARD OF ADMINISTRATION (SBA) LOCAL GOVERNMENT SURPLUS TRUST FUNDS INVESTMENT POOL As of December 31st, $3,922,784 was in the Florida Prime account which is available for withdrawal. Since all funds originally held as restricted by the SBA have been released, this section will no longer be provided in future reports. However, details of all investments will continue to be included in the Investment Earnings report located at the end of the quarterly reports. If you have any questions, please do not hesitate to contact me.
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BUDGET-IN-BRIEF as of December 31, 2014 (25% of year elapsed) YTD-Townwide Expense Allocation
Other Town Funds
Debt, 150,660 , 5% Capital, 187,163 , 6% Benefits, 686,076 , 21%
Operating & Maint., 1,154,617 , 35%
Wages, 1,084,701 , 33%
General Fund Revenues Revenues Budget Year-to-Date Taxes 4,961,175 2,347,096 Licenses & Permits 1,255,646 795,770 Intergovernmental Revenue 1,266,203 151,184 Charges for Services 795,909 610,913 Fines & Forfeitures 154,897 76,256 Misc. Revenue 2,971,970 279,005 Appropriations & Carryover 706,530 Total Revenues $ 12,112,330 $ 4,260,224
% 47.3% 63.4% 11.9% 76.8% 49.2% 9.4% 0.0% 35.2%
General Fund Expenditures Expenditures Budget Year-to-Date Town Council 119,443 36,009 Town Manager 191,122 40,903 Finance 341,154 88,436 Town Attorney 186,670 26,717 Non-Departmental 43,560 8,140 Police 4,311,072 1,071,728 Development Services 644,010 133,130 Public Works 2,024,032 471,665
% 30.1% 21.4% 25.9% 14.3% 18.7% 24.9% 20.7% 23.3%
Library
153,600
30,405
19.8%
39,670 3,515,597
941 86,965
2.4% 2.5%
Debt Service
492,400
137,873
28.0%
Contingency
50,000
-
0.0%
2,132,912
17.6%
Holiday Events Capital Outlay
Total Expenditures
$ 12,112,330
$
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,153,082 2,129,474 7,282,556 7,282,556
Year-to-Date 1,014,879 1,014,879 859,373
% 19.7% 0.0% 13.9% 11.8%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,560 5,560 5,560
Year-to-Date 912 912 885
% 16.4% N/A 16.4% 15.9%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 754 5,794
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 1,163,119 (51,674) 1,111,445 1,111,445
Year-to-Date 31,500 31,500 8,539
% 2.7% 0.0% 2.8% 0.8%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 385,910 385,910 385,910
Year-to-Date 85,241 85,241 255,714
% 22.1% N/A 22.1% 66.3%
Expenditures
YTD-Total Townwide Budget Budget Year-to-Date
Total Townwide Budget (not including Police Forfeiture Fund)
-3-
20,897,801
3,257,423
% 15.6%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2014 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable 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 Deferred revenue Total liabilities Fund balances: Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
$
-4-
9,660,904 2,197,369 3,614 13,380 274,384 577,838 12,727,489
Prior Year
$
$
10,220,974 234,437 3,188 12,537 274,481 (13,951) 10,731,666
259,923 42,730
205,262 16,813
1,708 635,474 939,835
103,521 325,596
1,370,338 10,417,316 11,787,654 12,727,489
328,798 10,077,272 10,406,070 10,731,666
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2014
Revenues: Taxes Licenses, permits & fees Intergovernmental Charges for services Fines and forfeitures Miscellaneous Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures
Budget
Actual
Variance Favorable (Unfavorable)
$ 4,961,175 1,255,646 1,266,203 795,909 154,897 2,969,970 11,403,800
$ 2,347,096 795,770 151,184 610,914 76,256 274,726 4,255,946
$ (2,614,079) (459,876) (1,115,019) (184,995) (78,641) (2,695,244) (7,147,854)
881,628 4,311,072 644,010 280,146 1,937,156 3,515,918
200,202 1,071,727 133,132 56,964 446,047 86,964
681,426 3,239,345 510,878 223,182 1,491,109 3,428,954
263,779 1,029,037 117,631 321,581 208,298 28,124
492,400 12,112,330
137,873 2,132,909
354,527 9,979,421
137,873 2,106,323
2,123,037
2,831,567
2,004,711
(708,530)
$ 2,235,226 728,121 147,355 608,603 47,496 344,233 4,111,034
2,000 706,530 708,530
4,279 4,279
-
2,127,316
2,019,110
9,660,338 $ 11,787,654
8,386,963 $ 10,406,070
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
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2,279 (706,530) (704,251)
Prior Year Actual
14,400 14,400
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget
Actual
$ 2,245,434 1,106,624 1,082,096 252,644 274,377 4,961,175
$ 1,718,697 346,451 208,069 49,538 24,341 2,347,096
Licenses, permits & fees: Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
262,292 318,148 593,245 81,961 1,255,646
Intergovernmental revenues: State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Gasoline taxes Total taxes
Variance Favorable (Unfavorable) (526,737) (760,173) (874,027) (203,106) (250,036) (2,614,079)
$ 1,651,408 336,793 200,751 24,221 22,053 2,235,226
205,338 91,808 444,104 54,520 795,770
(56,954) (226,340) (149,141) (27,441) (432,435)
197,666 98,807 431,648 728,121
320,952 23,885 11,100 775,000 135,266 1,266,203
80,240 6,037 64,907 151,184
(240,712) (17,848) (11,100) (710,093) (135,266) (1,115,019)
76,964 10,041 60,350 147,355
Charges for services: Public Safety Nature Preserve Maintenance Total charges for services
743,658 52,251 795,909
597,897 13,017 610,914
(145,761) (39,234) 184,995
595,842 12,761 608,603
Fines and forfeitures
154,897
76,256
(78,641)
47,496
Miscellaneous revenues: Interest Parking Contributions Leases Other Total miscellaneous revenues
8,770 190,975 2,520,000 174,683 75,542 2,969,970
1,544 72,529 21,600 139,135 39,918 274,726
(7,226) (118,446) (2,498,400) (35,548) (35,624) (2,695,244)
7,871 45,379 20,000 186,780 84,203 344,233
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
2,000 706,530 708,530 $ 12,112,330
4,279 4,279 $ 4,260,225
2,279 (706,530) (704,251) $ (7,852,105)
14,400
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$
Prior Year Actual
14,400 $ 4,125,434
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
66,814 52,629 119,443
$
19,766 16,242 36,008
Variance Favorable (Unfavorable)
$
47,048 36,387 83,435
Prior Year Actual
$
19,159 13,654 32,813
Executive: Personal services Operating Total Executive
159,660 31,462 191,122
35,768 5,134 40,902
123,892 26,328 150,220
36,483 6,332 42,815
Finance: Personal services Operating Capital Total Finance
250,610 90,223 7,621 348,454
57,392 31,043 6,320 94,755
193,218 59,180 1,301 253,699
54,802 29,970 1,980 86,752
Legal Counsel: Personal services Operating Total Legal Counsel
186,670 186,670
26,717 26,717
159,953 159,953
4,130 21,771 25,901
42,560 45,552 1,000 89,112 934,801
8,140 8,140 206,522
34,420 45,552 1,000 80,972 728,279
77,478 77,478 265,759
Public Safety: Administration: Personal services Operating Capital Total Administration
408,660 69,395 33,150 511,205
98,047 47,943 2,946 148,936
310,613 21,452 30,204 362,269
94,607 44,373 138,980
Uniform Patrol: Personal services Operating Capital Total Uniform Patrol
2,200,695 193,622 39,188 2,433,505
521,129 42,283 1,991 565,403
1,679,566 151,339 37,197 1,868,102
509,592 31,561 15,896 557,049
Non-Departmental Operating Capital Other Expenses Total Non-Departmental Total General Government
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TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives: Personal services Operating Capital Total Detectives
240,755 24,887 8,306 273,948
61,135 2,642 4,547 68,324
179,620 22,245 3,759 205,624
56,647 1,961 58,608
Services: Personal services Operating Total Police Services
287,930 151,435 439,365
65,472 62,149 127,621
222,458 89,286 311,744
59,370 60,207 119,577
Uniform Patrol (Hypoluxo): Personal services Operating Total Uniform Patrol (Hypoluxo)
423,320 22,960 446,280
104,093 1,989 106,082
319,227 20,971 340,198
100,316 3,761 104,077
Marine Safety: Personal services Operating Capital Total Marine Safety
271,010 16,403 23,115 310,528
62,657 2,188 347 65,192
208,353 14,215 22,768 245,336
64,614 2,028 66,642
4,414,831
1,081,558
3,333,273
1,044,933
174,970 12,730 187,700
34,941 2,737 37,678
140,029 9,993 150,022
27,303 2,207 29,510
Building Inspections: Personal services Operating Capital Total Building Inspections
120,620 129,930 1,500 252,050
21,089 28,916 50,005
99,531 101,014 1,500 202,045
15,737 27,730 43,467
Code Enforcement: Personal services Operating Total Code Enforcement
186,210 19,550 205,760
41,342 4,107 45,449
144,868 15,443 160,311
41,799 2,855 44,654
Total Development Services
645,510
133,132
512,378
117,631
Total Public Safety Development Services: Administration : Personal services Operating Total Administration
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TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Physical Environment: Public Works Administration Personal services Operating Total Public Works Administration
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
181,320 20,637 201,957
30,223 2,618 32,841
151,097 18,019 169,116
41,127 3,210 44,337
66,463 11,726 1,500 79,689
15,979 8,144 143 24,266
50,484 3,582 1,357 55,423
14,606 8,824 1,436 24,866
-
-
-
41,857 211,957 253,814
281,646
57,107
224,539
323,017
9,200 9,200
634 634
8,566 8,566
1,472 1,472
107,410 46,190 20,006 173,606
24,719 5,686 3,684 34,089
82,691 40,504 16,322 139,517
25,105 6,766 3,121 34,992
Streets & Grounds Maintenance: Personal services Operating Capital Total Streets & Grounds Maintenance
349,330 1,044,797 466,044 1,860,171
85,829 238,320 27,234 351,383
263,501 806,477 438,810 1,508,788
55,262 30,606 3,793 89,661
Facilities Maintenance: Personal services Operating Capital Total Facilities Maintenance
206,218 134,341 2,869,936 3,210,495
53,138 36,780 39,752 129,670
153,080 97,561 2,830,184 3,080,825
37,086 31,779 1,898 70,763
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
39,670 39,670 5,293,142
941 941 516,717
38,729 38,729 4,776,425
20,222 20,222 217,110
492,400 50,000 $ 12,112,330
137,873 2,132,909
354,527 50,000 9,979,421
137,873 2,106,323
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance Streets & Sanitation: Personal services Operating Total Streets & Sanitation Total Physical Environment Cultural and Recreation: Sports Complex: Operating Total Sports Complex Services Library: Personal services Operating Capital Total Library services
Debt Service General Contingency TOTAL EXPENDITURES
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$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2014 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 Intangibles Construction in progress
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable 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
$
- 10 -
$
4,300 509,892 20,970,815 871,362 5,146 92,326 22,453,841 (13,368,310) 9,085,531
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
6,794,353 1,724,866 121,197 374,002 9,014,418
Prior Year
903,234 19,003,183
8,204,910 230,087 131,570 412,048 8,978,615 4,300 509,892 20,737,967 791,817 5,146 18,445 22,067,567 (13,143,593) 8,923,974
$
1,066,495 18,969,084
186,200 4,526,558
151,888 5,266,551
164,330 245,082 28,670 5,150,840
158,362 230,589 27,760 5,835,150
2,445,897 1,001,106 10,405,340 13,852,343
2,445,897 987,359 9,700,678 13,133,934
19,003,183
$
18,969,084
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Variance Favorable (Unfavorable)
Actual
2,601,694 2,406,249 136,300 5,144,243
$
501,212 466,177 45,855 1,013,244
$
(2,100,482) (1,940,072) (90,445) (4,130,999)
Prior YTD Actual $
483,525 452,039 28,197 963,761
881,921 1,963,249 2,845,170
203,492 338,217 541,709
678,429 1,625,032 2,303,461
212,018 424,266 636,284
845,784
204,891
640,893
196,044
Debt Services Capital outlay
862,800 2,728,802 3,591,602
12,787 99,984 112,771
850,013 2,628,818 3,478,831
14,323 95,228 109,551
Total operating expenses
7,282,556
859,371
6,423,185
941,879
(2,138,313)
153,873
(10,554,184)
21,882
9,002 9,002
Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Use of reserves-capital carry forward
8,839 2,129,474
1,635 -
(7,204) (2,129,474)
Total non-operating revenues (expenses)
2,138,313
1,635
(2,136,678)
-
155,508
Net income/(loss) Net assets, beginning Net assets, ending
13,696,835 $ 13,852,343
- 11 -
155,508
30,884 13,103,050 $ 13,133,934
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Administrative Legislative: Personal services Operating Total Legislative Executive: Personal services Operating
$
Actual
44,536 35,086 79,622
$
13,181 10,828 24,009
Variance Favorable (Unfavorable)
$
31,355 24,258 55,613
$
12,780 9,102 21,882
Total Executive
146,270 24,579 170,849
32,693 4,171 36,864
133,985
32,846 4,784 37,630
Finance Personal services Operating Capital Total Finance
408,780 128,983 537,763
93,973 37,571 131,544
314,807 91,412 406,219
82,287 41,832 2,820 126,939
Total Legal
39,485 39,485
9,269 9,269
30,216 30,216
1,033 5,622 6,655
Non Departmental: Operating
18,065
3,205
14,860
2,938
Total Administrative
845,784
204,891
640,893
196,044
184,700 91,844 18,000 294,544
36,141 3,157 1,770 41,068
148,559 88,687 16,230 253,476
35,561 18,574 54,135
Legal: Personal services Operating
Public Works/Utilities Utilities Administration Personal services Operating Capital Total Utilities Administration
- 12 -
113,577 20,408
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Vehicle Maintenance Personal services Operating Total Vehicle Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
66,463 11,726 78,189
15,404 2,556 17,960
51,059 9,170 60,229
14,605 1,339 15,944
452,888 671,708 786,092 1,910,688
109,878 107,828 2,272 219,978
343,010 563,880 783,820 1,690,710
121,299 100,629 57,340 279,268
Total Wastewater operations
177,870 1,187,971 1,924,710 3,290,551
42,069 224,676 95,942 362,687
135,801 963,295 1,828,768 2,927,864
40,553 303,724 37,888 382,165
Total Public Works/Utilities
5,573,972
641,693
4,932,279
731,512
862,800
12,787
850,013
14,323
Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital
Debt Services TOTAL EXPENDITURES
$ 7,282,556
- 13 -
$
859,371
$
6,423,185
$
941,879
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2014 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November
0.16% 2,194,123
December
0.16% 2,197,082
Total
0.16%
0.16%
2,197,368
2,194,123
0
2,662 297
286
307
2,662 891
2,197,082
2,197,368
2,197,676
2,197,676
1,718,340
1,724,641
1,724,865
1,718,340
1
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
6,068 233
225
241
6,068 699
1,724,641
1,724,865
1,725,108
1,725,108
1,084
0
0
1,084
(0)
(1,084) 0
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1,084) 0 0
0
4,346
1
-
(0)
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(4,346) 1
-
1
4,346
(1)
(4,346) 1
-
1
1
638
0
-
0
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0
638
(0) -
(638) 0
-
(0)
(638) 0 0
- 14 -
0
October
November
December
Total
Bond Fund Beginning Bal.
2,662
Transfers In (Out) Admin. Charges Investment Earnings
0
0
2,662
(0) -
(2,662) 0
-
(0)
(2,662) 0
Ending Bal.
-
0
0
531 531
511 511
549 549
1,591 1,591
297 234 531
286 225 511
307 241 549
891 700 1,591
0.20% 0.07% 146 118 1 (316)
0.20% 0.07% 145 116 3 (293)
0.20% 0.07% 229 135 5 (105)
0.20% 0.07% 519 370 8 (714)
(50)
(30)
263
184
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Demand Deposit (earnings credit) Checking account APY General Fund Utility Fund Forfeiture Fund Bank Charges (net of interest credit) Investment Earnings Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Forfeiture Fund Ending Balances
4,135,423 6,000,000 373,980 10,561
4,522,445 6,000,000 374,002 15,980 77,339
6,315,432 6,000,000 374,024 27,341 77,342
10,519,964
10,989,766
12,794,140
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 482 340 823
Ending Balance
0.20% 460 329 790
4,843,613
0.20% 481 334 814
4,803,207
0.20% 1,423 1,004
4,887,826
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
784 834 1 1,619
- 15 -
$
761 801 3 1,564
$
870 857 5 1,732
$
2,414 2,492 8 4,915
STATE BOARD OF ADMINISTRATION (SBA) LOCAL GOVERNMENT SURPLUS TRUST FUNDS INVESTMENT POOL As of December 31st, $3,922,784 was in the Florida Prime account which is available for withdrawal. Since all funds originally held as restricted by the SBA have been released, this section will no longer be provided in future reports. However, details of all investments will continue to be included in the Investment Earnings report located at the end of the quarterly reports. If you have any questions, please do not hesitate to contact me.
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BUDGET-IN-BRIEF as of December 31, 2014 (25% of year elapsed) YTD-Townwide Expense Allocation
Other Town Funds
Debt, 150,660 , 5% Capital, 187,163 , 6% Benefits, 686,076 , 21%
Operating & Maint., 1,154,617 , 35%
Wages, 1,084,701 , 33%
General Fund Revenues Revenues Budget Year-to-Date Taxes 4,961,175 2,347,096 Licenses & Permits 1,255,646 795,770 Intergovernmental Revenue 1,266,203 151,184 Charges for Services 795,909 610,913 Fines & Forfeitures 154,897 76,256 Misc. Revenue 2,971,970 279,005 Appropriations & Carryover 706,530 Total Revenues $ 12,112,330 $ 4,260,224
% 47.3% 63.4% 11.9% 76.8% 49.2% 9.4% 0.0% 35.2%
General Fund Expenditures Expenditures Budget Year-to-Date Town Council 119,443 36,009 Town Manager 191,122 40,903 Finance 341,154 88,436 Town Attorney 186,670 26,717 Non-Departmental 43,560 8,140 Police 4,311,072 1,071,728 Development Services 644,010 133,130 Public Works 2,024,032 471,665
% 30.1% 21.4% 25.9% 14.3% 18.7% 24.9% 20.7% 23.3%
Library
153,600
30,405
19.8%
39,670 3,515,597
941 86,965
2.4% 2.5%
Debt Service
492,400
137,873
28.0%
Contingency
50,000
-
0.0%
2,132,912
17.6%
Holiday Events Capital Outlay
Total Expenditures
$ 12,112,330
$
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,153,082 2,129,474 7,282,556 7,282,556
Year-to-Date 1,014,879 1,014,879 859,373
% 19.7% 0.0% 13.9% 11.8%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,560 5,560 5,560
Year-to-Date 912 912 885
% 16.4% N/A 16.4% 15.9%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 754 5,794
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 1,163,119 (51,674) 1,111,445 1,111,445
Year-to-Date 31,500 31,500 8,539
% 2.7% 0.0% 2.8% 0.8%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 385,910 385,910 385,910
Year-to-Date 85,241 85,241 255,714
% 22.1% N/A 22.1% 66.3%
Expenditures
YTD-Total Townwide Budget Budget Year-to-Date
Total Townwide Budget (not including Police Forfeiture Fund)
-3-
20,897,801
3,257,423
% 15.6%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2014 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable 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 Deferred revenue Total liabilities Fund balances: Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
$
-4-
9,660,904 2,197,369 3,614 13,380 274,384 577,838 12,727,489
Prior Year
$
$
10,220,974 234,437 3,188 12,537 274,481 (13,951) 10,731,666
259,923 42,730
205,262 16,813
1,708 635,474 939,835
103,521 325,596
1,370,338 10,417,316 11,787,654 12,727,489
328,798 10,077,272 10,406,070 10,731,666
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2014
Revenues: Taxes Licenses, permits & fees Intergovernmental Charges for services Fines and forfeitures Miscellaneous Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures
Budget
Actual
Variance Favorable (Unfavorable)
$ 4,961,175 1,255,646 1,266,203 795,909 154,897 2,969,970 11,403,800
$ 2,347,096 795,770 151,184 610,914 76,256 274,726 4,255,946
$ (2,614,079) (459,876) (1,115,019) (184,995) (78,641) (2,695,244) (7,147,854)
881,628 4,311,072 644,010 280,146 1,937,156 3,515,918
200,202 1,071,727 133,132 56,964 446,047 86,964
681,426 3,239,345 510,878 223,182 1,491,109 3,428,954
263,779 1,029,037 117,631 321,581 208,298 28,124
492,400 12,112,330
137,873 2,132,909
354,527 9,979,421
137,873 2,106,323
2,123,037
2,831,567
2,004,711
(708,530)
$ 2,235,226 728,121 147,355 608,603 47,496 344,233 4,111,034
2,000 706,530 708,530
4,279 4,279
-
2,127,316
2,019,110
9,660,338 $ 11,787,654
8,386,963 $ 10,406,070
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
2,279 (706,530) (704,251)
Prior Year Actual
14,400 14,400
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget
Actual
$ 2,245,434 1,106,624 1,082,096 252,644 274,377 4,961,175
$ 1,718,697 346,451 208,069 49,538 24,341 2,347,096
Licenses, permits & fees: Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
262,292 318,148 593,245 81,961 1,255,646
Intergovernmental revenues: State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Gasoline taxes Total taxes
Variance Favorable (Unfavorable) (526,737) (760,173) (874,027) (203,106) (250,036) (2,614,079)
$ 1,651,408 336,793 200,751 24,221 22,053 2,235,226
205,338 91,808 444,104 54,520 795,770
(56,954) (226,340) (149,141) (27,441) (432,435)
197,666 98,807 431,648 728,121
320,952 23,885 11,100 775,000 135,266 1,266,203
80,240 6,037 64,907 151,184
(240,712) (17,848) (11,100) (710,093) (135,266) (1,115,019)
76,964 10,041 60,350 147,355
Charges for services: Public Safety Nature Preserve Maintenance Total charges for services
743,658 52,251 795,909
597,897 13,017 610,914
(145,761) (39,234) 184,995
595,842 12,761 608,603
Fines and forfeitures
154,897
76,256
(78,641)
47,496
Miscellaneous revenues: Interest Parking Contributions Leases Other Total miscellaneous revenues
8,770 190,975 2,520,000 174,683 75,542 2,969,970
1,544 72,529 21,600 139,135 39,918 274,726
(7,226) (118,446) (2,498,400) (35,548) (35,624) (2,695,244)
7,871 45,379 20,000 186,780 84,203 344,233
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
2,000 706,530 708,530 $ 12,112,330
4,279 4,279 $ 4,260,225
2,279 (706,530) (704,251) $ (7,852,105)
14,400
-6-
$
Prior Year Actual
14,400 $ 4,125,434
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
66,814 52,629 119,443
$
19,766 16,242 36,008
Variance Favorable (Unfavorable)
$
47,048 36,387 83,435
Prior Year Actual
$
19,159 13,654 32,813
Executive: Personal services Operating Total Executive
159,660 31,462 191,122
35,768 5,134 40,902
123,892 26,328 150,220
36,483 6,332 42,815
Finance: Personal services Operating Capital Total Finance
250,610 90,223 7,621 348,454
57,392 31,043 6,320 94,755
193,218 59,180 1,301 253,699
54,802 29,970 1,980 86,752
Legal Counsel: Personal services Operating Total Legal Counsel
186,670 186,670
26,717 26,717
159,953 159,953
4,130 21,771 25,901
42,560 45,552 1,000 89,112 934,801
8,140 8,140 206,522
34,420 45,552 1,000 80,972 728,279
77,478 77,478 265,759
Public Safety: Administration: Personal services Operating Capital Total Administration
408,660 69,395 33,150 511,205
98,047 47,943 2,946 148,936
310,613 21,452 30,204 362,269
94,607 44,373 138,980
Uniform Patrol: Personal services Operating Capital Total Uniform Patrol
2,200,695 193,622 39,188 2,433,505
521,129 42,283 1,991 565,403
1,679,566 151,339 37,197 1,868,102
509,592 31,561 15,896 557,049
Non-Departmental Operating Capital Other Expenses 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, 2014
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives: Personal services Operating Capital Total Detectives
240,755 24,887 8,306 273,948
61,135 2,642 4,547 68,324
179,620 22,245 3,759 205,624
56,647 1,961 58,608
Services: Personal services Operating Total Police Services
287,930 151,435 439,365
65,472 62,149 127,621
222,458 89,286 311,744
59,370 60,207 119,577
Uniform Patrol (Hypoluxo): Personal services Operating Total Uniform Patrol (Hypoluxo)
423,320 22,960 446,280
104,093 1,989 106,082
319,227 20,971 340,198
100,316 3,761 104,077
Marine Safety: Personal services Operating Capital Total Marine Safety
271,010 16,403 23,115 310,528
62,657 2,188 347 65,192
208,353 14,215 22,768 245,336
64,614 2,028 66,642
4,414,831
1,081,558
3,333,273
1,044,933
174,970 12,730 187,700
34,941 2,737 37,678
140,029 9,993 150,022
27,303 2,207 29,510
Building Inspections: Personal services Operating Capital Total Building Inspections
120,620 129,930 1,500 252,050
21,089 28,916 50,005
99,531 101,014 1,500 202,045
15,737 27,730 43,467
Code Enforcement: Personal services Operating Total Code Enforcement
186,210 19,550 205,760
41,342 4,107 45,449
144,868 15,443 160,311
41,799 2,855 44,654
Total Development Services
645,510
133,132
512,378
117,631
Total Public Safety Development Services: Administration : Personal services Operating Total Administration
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Physical Environment: Public Works Administration Personal services Operating Total Public Works Administration
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
181,320 20,637 201,957
30,223 2,618 32,841
151,097 18,019 169,116
41,127 3,210 44,337
66,463 11,726 1,500 79,689
15,979 8,144 143 24,266
50,484 3,582 1,357 55,423
14,606 8,824 1,436 24,866
-
-
-
41,857 211,957 253,814
281,646
57,107
224,539
323,017
9,200 9,200
634 634
8,566 8,566
1,472 1,472
107,410 46,190 20,006 173,606
24,719 5,686 3,684 34,089
82,691 40,504 16,322 139,517
25,105 6,766 3,121 34,992
Streets & Grounds Maintenance: Personal services Operating Capital Total Streets & Grounds Maintenance
349,330 1,044,797 466,044 1,860,171
85,829 238,320 27,234 351,383
263,501 806,477 438,810 1,508,788
55,262 30,606 3,793 89,661
Facilities Maintenance: Personal services Operating Capital Total Facilities Maintenance
206,218 134,341 2,869,936 3,210,495
53,138 36,780 39,752 129,670
153,080 97,561 2,830,184 3,080,825
37,086 31,779 1,898 70,763
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
39,670 39,670 5,293,142
941 941 516,717
38,729 38,729 4,776,425
20,222 20,222 217,110
492,400 50,000 $ 12,112,330
137,873 2,132,909
354,527 50,000 9,979,421
137,873 2,106,323
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance Streets & Sanitation: Personal services Operating Total Streets & Sanitation Total Physical Environment Cultural and Recreation: Sports Complex: Operating Total Sports Complex Services Library: Personal services Operating Capital Total Library services
Debt Service General Contingency TOTAL EXPENDITURES
-9-
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2014 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 Intangibles Construction in progress
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable 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
$
- 10 -
$
4,300 509,892 20,970,815 871,362 5,146 92,326 22,453,841 (13,368,310) 9,085,531
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
6,794,353 1,724,866 121,197 374,002 9,014,418
Prior Year
903,234 19,003,183
8,204,910 230,087 131,570 412,048 8,978,615 4,300 509,892 20,737,967 791,817 5,146 18,445 22,067,567 (13,143,593) 8,923,974
$
1,066,495 18,969,084
186,200 4,526,558
151,888 5,266,551
164,330 245,082 28,670 5,150,840
158,362 230,589 27,760 5,835,150
2,445,897 1,001,106 10,405,340 13,852,343
2,445,897 987,359 9,700,678 13,133,934
19,003,183
$
18,969,084
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Variance Favorable (Unfavorable)
Actual
2,601,694 2,406,249 136,300 5,144,243
$
501,212 466,177 45,855 1,013,244
$
(2,100,482) (1,940,072) (90,445) (4,130,999)
Prior YTD Actual $
483,525 452,039 28,197 963,761
881,921 1,963,249 2,845,170
203,492 338,217 541,709
678,429 1,625,032 2,303,461
212,018 424,266 636,284
845,784
204,891
640,893
196,044
Debt Services Capital outlay
862,800 2,728,802 3,591,602
12,787 99,984 112,771
850,013 2,628,818 3,478,831
14,323 95,228 109,551
Total operating expenses
7,282,556
859,371
6,423,185
941,879
(2,138,313)
153,873
(10,554,184)
21,882
9,002 9,002
Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Use of reserves-capital carry forward
8,839 2,129,474
1,635 -
(7,204) (2,129,474)
Total non-operating revenues (expenses)
2,138,313
1,635
(2,136,678)
-
155,508
Net income/(loss) Net assets, beginning Net assets, ending
13,696,835 $ 13,852,343
- 11 -
155,508
30,884 13,103,050 $ 13,133,934
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Administrative Legislative: Personal services Operating Total Legislative Executive: Personal services Operating
$
Actual
44,536 35,086 79,622
$
13,181 10,828 24,009
Variance Favorable (Unfavorable)
$
31,355 24,258 55,613
$
12,780 9,102 21,882
Total Executive
146,270 24,579 170,849
32,693 4,171 36,864
133,985
32,846 4,784 37,630
Finance Personal services Operating Capital Total Finance
408,780 128,983 537,763
93,973 37,571 131,544
314,807 91,412 406,219
82,287 41,832 2,820 126,939
Total Legal
39,485 39,485
9,269 9,269
30,216 30,216
1,033 5,622 6,655
Non Departmental: Operating
18,065
3,205
14,860
2,938
Total Administrative
845,784
204,891
640,893
196,044
184,700 91,844 18,000 294,544
36,141 3,157 1,770 41,068
148,559 88,687 16,230 253,476
35,561 18,574 54,135
Legal: Personal services Operating
Public Works/Utilities Utilities Administration Personal services Operating Capital Total Utilities Administration
- 12 -
113,577 20,408
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2014
Budget Vehicle Maintenance Personal services Operating Total Vehicle Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
66,463 11,726 78,189
15,404 2,556 17,960
51,059 9,170 60,229
14,605 1,339 15,944
452,888 671,708 786,092 1,910,688
109,878 107,828 2,272 219,978
343,010 563,880 783,820 1,690,710
121,299 100,629 57,340 279,268
Total Wastewater operations
177,870 1,187,971 1,924,710 3,290,551
42,069 224,676 95,942 362,687
135,801 963,295 1,828,768 2,927,864
40,553 303,724 37,888 382,165
Total Public Works/Utilities
5,573,972
641,693
4,932,279
731,512
862,800
12,787
850,013
14,323
Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital
Debt Services TOTAL EXPENDITURES
$ 7,282,556
- 13 -
$
859,371
$
6,423,185
$
941,879
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2014 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November
0.16% 2,194,123
December
0.16% 2,197,082
Total
0.16%
0.16%
2,197,368
2,194,123
0
2,662 297
286
307
2,662 891
2,197,082
2,197,368
2,197,676
2,197,676
1,718,340
1,724,641
1,724,865
1,718,340
1
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
6,068 233
225
241
6,068 699
1,724,641
1,724,865
1,725,108
1,725,108
1,084
0
0
1,084
(0)
(1,084) 0
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1,084) 0 0
0
4,346
1
-
(0)
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(4,346) 1
-
1
4,346
(1)
(4,346) 1
-
1
1
638
0
-
0
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0
638
(0) -
(638) 0
-
(0)
(638) 0 0
- 14 -
0
October
November
December
Total
Bond Fund Beginning Bal.
2,662
Transfers In (Out) Admin. Charges Investment Earnings
0
0
2,662
(0) -
(2,662) 0
-
(0)
(2,662) 0
Ending Bal.
-
0
0
531 531
511 511
549 549
1,591 1,591
297 234 531
286 225 511
307 241 549
891 700 1,591
0.20% 0.07% 146 118 1 (316)
0.20% 0.07% 145 116 3 (293)
0.20% 0.07% 229 135 5 (105)
0.20% 0.07% 519 370 8 (714)
(50)
(30)
263
184
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Demand Deposit (earnings credit) Checking account APY General Fund Utility Fund Forfeiture Fund Bank Charges (net of interest credit) Investment Earnings Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Forfeiture Fund Ending Balances
4,135,423 6,000,000 373,980 10,561
4,522,445 6,000,000 374,002 15,980 77,339
6,315,432 6,000,000 374,024 27,341 77,342
10,519,964
10,989,766
12,794,140
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 482 340 823
Ending Balance
0.20% 460 329 790
4,843,613
0.20% 481 334 814
4,803,207
0.20% 1,423 1,004
4,887,826
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
784 834 1 1,619
- 15 -
$
761 801 3 1,564
$
870 857 5 1,732
$
2,414 2,492 8 4,915
