December 31, 2015
MEMORANDUM Finance Department 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. 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 The following pages include smaller funds not included in the Executive Summary. These include the Police Education, Police Forfeiture, Grants, and Insurance funds.
Please contact me with any questions you may have.
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BUDGET-IN-BRIEF as of December 31, 2015 (25% of year elapsed) YTD-Townwide Expense Allocation
Other Town Funds
Debt, 148,810 , 4% Benefits, 667,771 , 17%
Wages, 1,129,317 , 29% Capital, 834,467 , 21%
Operating & Maint., 1,125,843 , 29%
General Fund Revenues Revenues Budget Year-to-Date Taxes 5,305,715 2,410,931 Licenses & Permits 599,284 277,367 Assessments 671,341 487,642 Intergovernmental Revenue 2,412,805 162,625 Charges for Services 811,036 629,373 Fines & Forfeitures 187,872 69,903 Misc. Revenue 1,334,393 1,051,840 Interfund Transfers 24,515 Appropriations & Carryover (6,309) Total Revenues $ 11,340,652 $ 5,089,681
% 45.4% 46.3% 72.6% 6.7% 77.6% 37.2% 78.8% 0.0% 0.0% 44.9%
General Fund Expenditures Budget Year-to-Date 118,531 32,253 208,629 56,445 355,075 90,790 165,000 18,270 50,505 7,930 4,584,080 1,090,040
% 27.2% 27.1% 25.6% 11.1% 15.7% 23.8%
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
Development Services Public Works Library Holiday Events Capital Outlay Debt Service Interfund Transfers Contingency Total Expenditures
636,370
136,929
21.5%
2,117,029 155,450
441,813 31,694
20.9% 20.4%
53,620
2,398
4.5%
2,270,658
789,007
34.7%
430,300
137,683
32.0%
20,000 $ 11,340,652
$
-
0.0%
2,835,252
25.0%
Budget 5,395,351 2,918,057 8,313,408 8,313,408
Year-to-Date 1,008,810 1,008,810 839,619
% 18.7% 0.0% 12.1% 10.1%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,235 4,235 4,235
Year-to-Date 531 531 1,770
% 12.5% N/A 12.5% 41.8%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 30,284 5,944
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 305,578 (51,888) 253,690 253,690
Year-to-Date 28,800 28,800 9,225
% 9.4% 0.0% 11.4% 3.6%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 401,950 401,950 401,950
Year-to-Date 86,363 86,363 214,398
% 21.5% N/A 21.5% 53.3%
Expenditures
YTD-Total Townwide Budget Budget Year-to-Date
Total Townwide Budget (not including Police Forfeiture Fund)
0.0%
175,405
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
-3-
20,313,935
3,900,264
% 19.2%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2015 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-
9,614,746 2,211,979 11,374 12,054 298,709 495,087 12,643,949
Prior Year
$
$
9,660,904 2,197,369 3,614 13,380 274,384 549,396 12,699,047
786,629 10,317
259,923 42,730
508,865 1,305,811
607,032 909,685
1,630,042 9,708,096 11,338,138 12,643,949
1,370,338 10,419,024 11,789,362 12,699,047
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2015
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 General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources Sale of 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)
$ 5,305,715 1,270,625 2,412,805 811,036 187,872 1,332,393 11,320,446
$ 2,410,931 765,008 162,624 629,373 69,903 1,051,841 5,089,680
$ (2,894,784) (505,617) (2,250,181) (181,663) (117,969) (280,552) (6,230,766)
897,740 4,584,080 636,370 2,117,019 209,070 2,270,668
205,688 1,090,039 136,928 441,814 34,092 789,006
692,052 3,494,041 499,442 1,675,205 174,978 1,481,662
200,202 1,071,727 133,132 471,031 31,980 86,964
430,300 175,405 11,320,652
137,683 2,835,250
292,617 175,405 8,485,402
137,873 2,132,909
(206)
2,254,430
2,254,636
2,123,037
2,000 (6,309) 206
-
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
(2,000) 6,309 (206)
Prior Year Actual $ 2,347,096 795,770 151,184 610,914 76,256 274,726 4,255,946
4,279 4,279
2,254,430
2,127,315
9,083,703 $ 11,338,138
9,662,047 $ 11,789,362
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget
Actual
$ 2,479,437 1,119,554 1,176,607 243,112 287,005 5,305,715
$ 1,810,026 342,507 212,975 21,412 24,011 2,410,931
Licenses, permits & fees Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
267,347 331,937 593,478 77,863 1,270,625
Intergovernmental revenues Insurance premium tax 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) (669,411) (777,047) (963,632) (221,700) (262,994) (2,894,784)
$ 1,718,697 346,451 208,069 49,538 24,341 2,347,096
209,105 68,261 433,729 53,913 765,008
(58,242) (263,676) (159,749) (23,950) (481,667)
205,338 91,808 444,104 54,520 795,770
96,000 345,384 25,346 11,100 811,005 1,123,970 2,412,805
86,347 8,372 67,274 631 162,624
(96,000) (259,037) (16,974) (11,100) (743,731) (1,123,339) (2,250,181)
80,240 6,037 64,907 151,184
Charges for services Public Safety Nature Preserve Maintenance Total charges for services
758,850 52,186 811,036
616,356 13,017 629,373
(142,494) (39,169) 181,663
597,897 13,017 610,914
Fines and forfeitures
187,872
69,903
(117,969)
76,256
12,968 257,616 770,000 199,374 92,435 1,332,393
1,822 71,596 771,000 140,860 66,563 1,051,841
(11,146) (186,020) 1,000 (58,514) (25,872) (280,552)
1,544 72,529 21,600 139,135 39,918 274,726
$ 5,089,680
(2,000) (24,515) 6,309 (20,206) $ (6,250,972)
4,279
Miscellaneous revenues Interest Parking Contributions Leases Other Total miscellaneous revenues Other financing sources Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
2,000 24,515 (6,309) 20,206 $ 11,340,652
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$
Prior Year Actual
4,279 $ 4,260,225
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget General government Legislative Personal services Operating Total Legislative
$
Actual
65,859 52,672 118,531
$
18,898 13,355 32,253
Variance Favorable (Unfavorable)
$
46,961 39,317 86,278
Prior Year Actual
$
19,766 16,242 36,008
Town Administration Personal services Operating Capital Total Town Administration
170,840 37,789 1,823 210,452
48,198 8,246 1,822 58,266
122,642 29,543 1 152,186
35,768 5,134 40,902
Finance Personal services Operating Capital Total Finance
258,215 96,860 75,500 430,575
56,561 34,230 1,500 92,291
201,654 62,630 74,000 338,284
57,392 31,043 6,320 94,755
Legal Counsel Operating Total Legal Counsel
165,000 165,000
18,270 18,270
146,730 146,730
26,717 26,717
49,505 45,552 1,000 96,057 1,020,615
7,930 7,930 209,010
41,575 45,552 1,000 88,127 811,605
8,140 8,140 206,522
Public Safety Administration Personal services Operating Capital Total Administration
419,595 68,213 487,808
94,658 47,203 141,861
324,937 21,010 345,947
98,047 47,943 2,946 148,936
Uniform Patrol Personal services Operating Capital Total Uniform Patrol
2,437,355 210,432 134,533 2,782,320
524,804 37,263 50,892 612,959
1,912,551 173,169 83,641 2,169,361
521,129 42,283 1,991 565,403
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, 2015
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives Personal services Operating Capital Total Detectives
254,100 20,940 275,040
60,220 5,708 65,928
193,880 15,232 209,112
61,135 2,642 4,547 68,324
Services Personal services Operating Capital Total Police Services
295,062 141,145 2,000 438,207
71,220 56,963 1,915 130,098
223,842 84,182 85 308,109
65,472 62,149 127,621
Uniform Patrol (Hypoluxo) Personal services Operating Total Uniform Patrol (Hypoluxo)
433,270 15,500 448,770
111,643 2,206 113,849
321,627 13,294 334,921
104,093 1,989 106,082
Marine Safety Personal services Operating Capital Total Marine Safety
274,450 14,018 2,370 290,838
75,066 3,085 78,151
199,384 10,933 2,370 212,687
62,657 2,188 347 65,192
4,722,983
1,142,846
3,580,137
1,081,558
179,900 18,880 198,780
36,620 2,689 39,309
143,280 16,191 159,471
34,941 2,737 37,678
Total Public Safety Development Services Administration Personal services Operating Total Administration Building Inspections Personal services Operating Capital Total Building Inspections Code Enforcement Personal services Operating Total Code Enforcement
93,600 149,720 1,500 244,820
20,231 32,316 52,547
73,369 117,404 1,500 192,273
21,089 28,916 50,005
174,830 19,440 194,270
40,618 4,454 45,072
134,212 14,986 149,198
41,342 4,107 45,449
Total Development Services
637,870
136,928
500,942
133,132
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Physical Environment Operations Administration Personal services Operating Capital Total Operations Administration Public Works Personal services Operating Capital Total Public Works Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Total Physical Environment Cultural and Recreation Sports Complex Operating Total Sports Complex Services Library Personal services Operating Capital Total Library services Miscellaneous Holiday events Total Miscellaneous Total Culture and Recreation Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
217,823 17,843 1,500 237,166
41,616 2,758 1,500 45,874
176,207 15,085 191,292
30,223 2,676 32,899
539,054 1,267,647 1,981,240 3,787,941
120,654 263,389 725,849 1,109,892
418,400 1,004,258 1,255,391 2,678,049
138,967 275,042 66,986 480,995
46,026 15,229 4,500 65,755
15,979 8,144 143 24,266
59,917 14,735 4,500 79,152
13,891 (494) 13,397
4,104,259
1,169,163
2,935,096
538,160
-
-
-
634 634
111,350 44,100 20,150 175,600
25,274 6,420 5,528 37,222
86,076 37,680 14,622 138,378
24,719 5,686 3,684 34,089
53,620 53,620 229,220
2,398 2,398 39,620
51,222 51,222 2,867,649
941 941 35,664
430,300 20,000 175,405 $ 11,340,652
137,683 2,835,250
292,617 20,000 175,405 8,505,402
137,873 2,132,909
-9-
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2015 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 21,510,550 966,482 5,146 424,847 23,421,217 (14,105,136) 9,316,081
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
7,128,348 1,672,888 138,861 440,899 9,380,996
Prior Year
739,974 19,437,051
6,794,353 1,724,866 121,197 374,002 9,014,418 4,300 509,892 20,970,815 871,362 5,146 92,326 22,453,841 (13,368,310) 9,085,531
$
903,234 19,003,183
68,732 3,767,617
186,200 4,526,558
177,057 201,628 29,538 4,244,572
163,670 245,082 28,670 5,150,180
2,445,897 1,096,045 11,650,537 15,192,479
2,445,897 1,001,106 10,406,000 13,853,003
19,437,051
$
19,003,183
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Revenues Water sales Wastewater sales Miscellaneous Total operating revenues
$ (2,230,119) (2,018,156) (129,765) (4,378,040)
909,262 1,989,205 2,898,467
202,558 368,459 571,017
706,704 1,620,746 2,327,450
203,492 338,217 541,709
874,858
212,705
662,153
204,891
Debt Services Capital outlay
861,150 3,654,418 4,515,568
11,127 44,771 55,898
850,023 3,609,647 4,459,670
12,787 99,984 112,771
Total operating expenses
8,288,893
839,620
7,449,273
859,371
(2,903,922)
167,311
(11,827,313)
153,873
Administrative expenses
Operating income/(loss)
2,745,949 2,485,572 153,450 5,384,971
Actual $
Prior YTD Actual
515,830 467,416 23,685 1,006,931
Expenditures Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Variance Favorable (Unfavorable) $
501,212 466,177 45,855 1,013,244
Non-operating revenues (expenses) Investment income Sale of assets Operating Transfers Out Use of reserves-capital carry forward
10,380 24,515 2,918,057
1,879 -
(8,501) -
-
(2,918,057)
1,635 -
Total non-operating revenues (expenses)
2,952,952
1,879
(2,926,558)
1,635
49,030
169,190
Net income/(loss) Net assets, beginning Net assets, ending
15,023,290 $ 15,192,479
- 11 -
120,160
155,508 13,697,498 $ 13,853,003
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Administrative Legislative Personal services Operating Total Legislative Town Administration Personal services Operating
$
Actual
43,556 35,115 78,671
$
12,595 8,903 21,498
Variance Favorable (Unfavorable)
$
30,961 26,212 57,173
Prior Year Actual
$
13,181 10,828 24,009
40,916 4,612 45,528
112,654 20,950
Total Town Administration
153,570 25,562 179,132
133,604
32,693 4,171 36,864
Finance Personal services Operating Capital Total Finance
419,865 138,440 4,750 563,055
94,482 42,289 690 137,461
325,383 96,151 4,060 425,594
93,973 37,571 131,544
Total Legal
39,485 39,485
5,989 5,989
33,496 33,496
9,269 9,269
Non Departmental: Operating
14,515
2,229
12,286
3,205
Total Administrative
874,858
212,705
662,153
204,891
196,055 66,235 262,290
44,104 2,175 46,279
151,951 64,060 216,011
36,141 3,157 1,770 41,068
59,917 14,735 74,652
13,891 2,698 16,589
46,026 12,037 58,063
15,404 2,556 17,960
468,080 654,885 2,508,692 3,631,657
108,012 110,641 9,525 228,178
360,068 544,244 2,499,167 3,403,479
109,878 107,828 2,272 219,978
Legal Operating
Operations Operations Administration Personal services Operating Capital Total Operations Administration Vehicle Maintenance Personal services Operating Total Vehicle Maintenance Water/water plant operations Personal services Operating Capital Total Water/water plant operations
- 12 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Wastewater operations Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Total Wastewater operations
185,210 1,253,350 1,145,726 2,584,286
36,551 252,945 35,246 324,742
148,659 1,000,405 1,110,480 2,259,544
42,069 224,676 95,942 362,687
Total Public Works/Utilities
6,552,885
615,788
5,937,097
641,693
861,150 24,515
11,127 -
850,023 24,515
12,787 -
Debt Services Transfers Out TOTAL EXPENDITURES
$ 8,313,408
- 13 -
$
839,620
$
7,449,273
$
859,371
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2015 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November
0.27% 2,210,994
0.27% 2,211,495
December 0.35%
Total 0.30%
2,211,979
2,210,994
501
484
667
1,652
2,211,495
2,211,979
2,212,646
2,212,646
1,672,143
1,672,522
1,672,888
1,672,143
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
379
366
504
1,249
1,672,522
1,672,888
1,673,392
1,673,392
66,671
66,686
66,701
66,671
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
15
15
20
50
66,686
66,701
66,721
66,721
896 896
864 864
1,191 1,191
2,951 2,951
501 394 896
484 381 864
667 524 1,191
1,652 1,299 2,951
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
- 14 -
October
November
December
Total
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
0.20% 0.04% 92 88 3 (290)
0.20% 0.04% 74 70 2 (180)
(107)
(34)
0.20% 0.15% 430 245 11 (177)
0.20% 0.08% 595 403 17 (647)
509
368
Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Ending Balances
4,436,032 6,000,000 374,186 56,062
4,618,829 6,000,000 374,198 64,737
7,082,592 6,000,000 374,211 72,739
10,866,281
11,057,764
13,529,541
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 484 341 825
Ending Balance
0.20% 462 330 792
4,858,943
0.20% 489 339 828
4,818,539
0.20% 1,436 1,010 2,445
4,903,172
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
934 966 3 1,903
- 15 -
$
888 913 2 1,803
$
1,436 1,258 11 2,705
$
3,257 3,138 17 6,412
Please contact me with any questions you may have.
-2-
BUDGET-IN-BRIEF as of December 31, 2015 (25% of year elapsed) YTD-Townwide Expense Allocation
Other Town Funds
Debt, 148,810 , 4% Benefits, 667,771 , 17%
Wages, 1,129,317 , 29% Capital, 834,467 , 21%
Operating & Maint., 1,125,843 , 29%
General Fund Revenues Revenues Budget Year-to-Date Taxes 5,305,715 2,410,931 Licenses & Permits 599,284 277,367 Assessments 671,341 487,642 Intergovernmental Revenue 2,412,805 162,625 Charges for Services 811,036 629,373 Fines & Forfeitures 187,872 69,903 Misc. Revenue 1,334,393 1,051,840 Interfund Transfers 24,515 Appropriations & Carryover (6,309) Total Revenues $ 11,340,652 $ 5,089,681
% 45.4% 46.3% 72.6% 6.7% 77.6% 37.2% 78.8% 0.0% 0.0% 44.9%
General Fund Expenditures Budget Year-to-Date 118,531 32,253 208,629 56,445 355,075 90,790 165,000 18,270 50,505 7,930 4,584,080 1,090,040
% 27.2% 27.1% 25.6% 11.1% 15.7% 23.8%
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
Development Services Public Works Library Holiday Events Capital Outlay Debt Service Interfund Transfers Contingency Total Expenditures
636,370
136,929
21.5%
2,117,029 155,450
441,813 31,694
20.9% 20.4%
53,620
2,398
4.5%
2,270,658
789,007
34.7%
430,300
137,683
32.0%
20,000 $ 11,340,652
$
-
0.0%
2,835,252
25.0%
Budget 5,395,351 2,918,057 8,313,408 8,313,408
Year-to-Date 1,008,810 1,008,810 839,619
% 18.7% 0.0% 12.1% 10.1%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,235 4,235 4,235
Year-to-Date 531 531 1,770
% 12.5% N/A 12.5% 41.8%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 30,284 5,944
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 305,578 (51,888) 253,690 253,690
Year-to-Date 28,800 28,800 9,225
% 9.4% 0.0% 11.4% 3.6%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 401,950 401,950 401,950
Year-to-Date 86,363 86,363 214,398
% 21.5% N/A 21.5% 53.3%
Expenditures
YTD-Total Townwide Budget Budget Year-to-Date
Total Townwide Budget (not including Police Forfeiture Fund)
0.0%
175,405
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
-3-
20,313,935
3,900,264
% 19.2%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2015 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-
9,614,746 2,211,979 11,374 12,054 298,709 495,087 12,643,949
Prior Year
$
$
9,660,904 2,197,369 3,614 13,380 274,384 549,396 12,699,047
786,629 10,317
259,923 42,730
508,865 1,305,811
607,032 909,685
1,630,042 9,708,096 11,338,138 12,643,949
1,370,338 10,419,024 11,789,362 12,699,047
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2015
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 General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources Sale of 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)
$ 5,305,715 1,270,625 2,412,805 811,036 187,872 1,332,393 11,320,446
$ 2,410,931 765,008 162,624 629,373 69,903 1,051,841 5,089,680
$ (2,894,784) (505,617) (2,250,181) (181,663) (117,969) (280,552) (6,230,766)
897,740 4,584,080 636,370 2,117,019 209,070 2,270,668
205,688 1,090,039 136,928 441,814 34,092 789,006
692,052 3,494,041 499,442 1,675,205 174,978 1,481,662
200,202 1,071,727 133,132 471,031 31,980 86,964
430,300 175,405 11,320,652
137,683 2,835,250
292,617 175,405 8,485,402
137,873 2,132,909
(206)
2,254,430
2,254,636
2,123,037
2,000 (6,309) 206
-
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
(2,000) 6,309 (206)
Prior Year Actual $ 2,347,096 795,770 151,184 610,914 76,256 274,726 4,255,946
4,279 4,279
2,254,430
2,127,315
9,083,703 $ 11,338,138
9,662,047 $ 11,789,362
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget
Actual
$ 2,479,437 1,119,554 1,176,607 243,112 287,005 5,305,715
$ 1,810,026 342,507 212,975 21,412 24,011 2,410,931
Licenses, permits & fees Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
267,347 331,937 593,478 77,863 1,270,625
Intergovernmental revenues Insurance premium tax 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) (669,411) (777,047) (963,632) (221,700) (262,994) (2,894,784)
$ 1,718,697 346,451 208,069 49,538 24,341 2,347,096
209,105 68,261 433,729 53,913 765,008
(58,242) (263,676) (159,749) (23,950) (481,667)
205,338 91,808 444,104 54,520 795,770
96,000 345,384 25,346 11,100 811,005 1,123,970 2,412,805
86,347 8,372 67,274 631 162,624
(96,000) (259,037) (16,974) (11,100) (743,731) (1,123,339) (2,250,181)
80,240 6,037 64,907 151,184
Charges for services Public Safety Nature Preserve Maintenance Total charges for services
758,850 52,186 811,036
616,356 13,017 629,373
(142,494) (39,169) 181,663
597,897 13,017 610,914
Fines and forfeitures
187,872
69,903
(117,969)
76,256
12,968 257,616 770,000 199,374 92,435 1,332,393
1,822 71,596 771,000 140,860 66,563 1,051,841
(11,146) (186,020) 1,000 (58,514) (25,872) (280,552)
1,544 72,529 21,600 139,135 39,918 274,726
$ 5,089,680
(2,000) (24,515) 6,309 (20,206) $ (6,250,972)
4,279
Miscellaneous revenues Interest Parking Contributions Leases Other Total miscellaneous revenues Other financing sources Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
2,000 24,515 (6,309) 20,206 $ 11,340,652
-6-
$
Prior Year Actual
4,279 $ 4,260,225
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget General government Legislative Personal services Operating Total Legislative
$
Actual
65,859 52,672 118,531
$
18,898 13,355 32,253
Variance Favorable (Unfavorable)
$
46,961 39,317 86,278
Prior Year Actual
$
19,766 16,242 36,008
Town Administration Personal services Operating Capital Total Town Administration
170,840 37,789 1,823 210,452
48,198 8,246 1,822 58,266
122,642 29,543 1 152,186
35,768 5,134 40,902
Finance Personal services Operating Capital Total Finance
258,215 96,860 75,500 430,575
56,561 34,230 1,500 92,291
201,654 62,630 74,000 338,284
57,392 31,043 6,320 94,755
Legal Counsel Operating Total Legal Counsel
165,000 165,000
18,270 18,270
146,730 146,730
26,717 26,717
49,505 45,552 1,000 96,057 1,020,615
7,930 7,930 209,010
41,575 45,552 1,000 88,127 811,605
8,140 8,140 206,522
Public Safety Administration Personal services Operating Capital Total Administration
419,595 68,213 487,808
94,658 47,203 141,861
324,937 21,010 345,947
98,047 47,943 2,946 148,936
Uniform Patrol Personal services Operating Capital Total Uniform Patrol
2,437,355 210,432 134,533 2,782,320
524,804 37,263 50,892 612,959
1,912,551 173,169 83,641 2,169,361
521,129 42,283 1,991 565,403
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, 2015
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives Personal services Operating Capital Total Detectives
254,100 20,940 275,040
60,220 5,708 65,928
193,880 15,232 209,112
61,135 2,642 4,547 68,324
Services Personal services Operating Capital Total Police Services
295,062 141,145 2,000 438,207
71,220 56,963 1,915 130,098
223,842 84,182 85 308,109
65,472 62,149 127,621
Uniform Patrol (Hypoluxo) Personal services Operating Total Uniform Patrol (Hypoluxo)
433,270 15,500 448,770
111,643 2,206 113,849
321,627 13,294 334,921
104,093 1,989 106,082
Marine Safety Personal services Operating Capital Total Marine Safety
274,450 14,018 2,370 290,838
75,066 3,085 78,151
199,384 10,933 2,370 212,687
62,657 2,188 347 65,192
4,722,983
1,142,846
3,580,137
1,081,558
179,900 18,880 198,780
36,620 2,689 39,309
143,280 16,191 159,471
34,941 2,737 37,678
Total Public Safety Development Services Administration Personal services Operating Total Administration Building Inspections Personal services Operating Capital Total Building Inspections Code Enforcement Personal services Operating Total Code Enforcement
93,600 149,720 1,500 244,820
20,231 32,316 52,547
73,369 117,404 1,500 192,273
21,089 28,916 50,005
174,830 19,440 194,270
40,618 4,454 45,072
134,212 14,986 149,198
41,342 4,107 45,449
Total Development Services
637,870
136,928
500,942
133,132
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Physical Environment Operations Administration Personal services Operating Capital Total Operations Administration Public Works Personal services Operating Capital Total Public Works Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Total Physical Environment Cultural and Recreation Sports Complex Operating Total Sports Complex Services Library Personal services Operating Capital Total Library services Miscellaneous Holiday events Total Miscellaneous Total Culture and Recreation Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
217,823 17,843 1,500 237,166
41,616 2,758 1,500 45,874
176,207 15,085 191,292
30,223 2,676 32,899
539,054 1,267,647 1,981,240 3,787,941
120,654 263,389 725,849 1,109,892
418,400 1,004,258 1,255,391 2,678,049
138,967 275,042 66,986 480,995
46,026 15,229 4,500 65,755
15,979 8,144 143 24,266
59,917 14,735 4,500 79,152
13,891 (494) 13,397
4,104,259
1,169,163
2,935,096
538,160
-
-
-
634 634
111,350 44,100 20,150 175,600
25,274 6,420 5,528 37,222
86,076 37,680 14,622 138,378
24,719 5,686 3,684 34,089
53,620 53,620 229,220
2,398 2,398 39,620
51,222 51,222 2,867,649
941 941 35,664
430,300 20,000 175,405 $ 11,340,652
137,683 2,835,250
292,617 20,000 175,405 8,505,402
137,873 2,132,909
-9-
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2015 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 21,510,550 966,482 5,146 424,847 23,421,217 (14,105,136) 9,316,081
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
7,128,348 1,672,888 138,861 440,899 9,380,996
Prior Year
739,974 19,437,051
6,794,353 1,724,866 121,197 374,002 9,014,418 4,300 509,892 20,970,815 871,362 5,146 92,326 22,453,841 (13,368,310) 9,085,531
$
903,234 19,003,183
68,732 3,767,617
186,200 4,526,558
177,057 201,628 29,538 4,244,572
163,670 245,082 28,670 5,150,180
2,445,897 1,096,045 11,650,537 15,192,479
2,445,897 1,001,106 10,406,000 13,853,003
19,437,051
$
19,003,183
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Revenues Water sales Wastewater sales Miscellaneous Total operating revenues
$ (2,230,119) (2,018,156) (129,765) (4,378,040)
909,262 1,989,205 2,898,467
202,558 368,459 571,017
706,704 1,620,746 2,327,450
203,492 338,217 541,709
874,858
212,705
662,153
204,891
Debt Services Capital outlay
861,150 3,654,418 4,515,568
11,127 44,771 55,898
850,023 3,609,647 4,459,670
12,787 99,984 112,771
Total operating expenses
8,288,893
839,620
7,449,273
859,371
(2,903,922)
167,311
(11,827,313)
153,873
Administrative expenses
Operating income/(loss)
2,745,949 2,485,572 153,450 5,384,971
Actual $
Prior YTD Actual
515,830 467,416 23,685 1,006,931
Expenditures Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Variance Favorable (Unfavorable) $
501,212 466,177 45,855 1,013,244
Non-operating revenues (expenses) Investment income Sale of assets Operating Transfers Out Use of reserves-capital carry forward
10,380 24,515 2,918,057
1,879 -
(8,501) -
-
(2,918,057)
1,635 -
Total non-operating revenues (expenses)
2,952,952
1,879
(2,926,558)
1,635
49,030
169,190
Net income/(loss) Net assets, beginning Net assets, ending
15,023,290 $ 15,192,479
- 11 -
120,160
155,508 13,697,498 $ 13,853,003
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Administrative Legislative Personal services Operating Total Legislative Town Administration Personal services Operating
$
Actual
43,556 35,115 78,671
$
12,595 8,903 21,498
Variance Favorable (Unfavorable)
$
30,961 26,212 57,173
Prior Year Actual
$
13,181 10,828 24,009
40,916 4,612 45,528
112,654 20,950
Total Town Administration
153,570 25,562 179,132
133,604
32,693 4,171 36,864
Finance Personal services Operating Capital Total Finance
419,865 138,440 4,750 563,055
94,482 42,289 690 137,461
325,383 96,151 4,060 425,594
93,973 37,571 131,544
Total Legal
39,485 39,485
5,989 5,989
33,496 33,496
9,269 9,269
Non Departmental: Operating
14,515
2,229
12,286
3,205
Total Administrative
874,858
212,705
662,153
204,891
196,055 66,235 262,290
44,104 2,175 46,279
151,951 64,060 216,011
36,141 3,157 1,770 41,068
59,917 14,735 74,652
13,891 2,698 16,589
46,026 12,037 58,063
15,404 2,556 17,960
468,080 654,885 2,508,692 3,631,657
108,012 110,641 9,525 228,178
360,068 544,244 2,499,167 3,403,479
109,878 107,828 2,272 219,978
Legal Operating
Operations Operations Administration Personal services Operating Capital Total Operations Administration Vehicle Maintenance Personal services Operating Total Vehicle Maintenance Water/water plant operations Personal services Operating Capital Total Water/water plant operations
- 12 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2015
Budget Wastewater operations Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Total Wastewater operations
185,210 1,253,350 1,145,726 2,584,286
36,551 252,945 35,246 324,742
148,659 1,000,405 1,110,480 2,259,544
42,069 224,676 95,942 362,687
Total Public Works/Utilities
6,552,885
615,788
5,937,097
641,693
861,150 24,515
11,127 -
850,023 24,515
12,787 -
Debt Services Transfers Out TOTAL EXPENDITURES
$ 8,313,408
- 13 -
$
839,620
$
7,449,273
$
859,371
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2015 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November
0.27% 2,210,994
0.27% 2,211,495
December 0.35%
Total 0.30%
2,211,979
2,210,994
501
484
667
1,652
2,211,495
2,211,979
2,212,646
2,212,646
1,672,143
1,672,522
1,672,888
1,672,143
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
379
366
504
1,249
1,672,522
1,672,888
1,673,392
1,673,392
66,671
66,686
66,701
66,671
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
15
15
20
50
66,686
66,701
66,721
66,721
896 896
864 864
1,191 1,191
2,951 2,951
501 394 896
484 381 864
667 524 1,191
1,652 1,299 2,951
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
- 14 -
October
November
December
Total
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
0.20% 0.04% 92 88 3 (290)
0.20% 0.04% 74 70 2 (180)
(107)
(34)
0.20% 0.15% 430 245 11 (177)
0.20% 0.08% 595 403 17 (647)
509
368
Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Ending Balances
4,436,032 6,000,000 374,186 56,062
4,618,829 6,000,000 374,198 64,737
7,082,592 6,000,000 374,211 72,739
10,866,281
11,057,764
13,529,541
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 484 341 825
Ending Balance
0.20% 462 330 792
4,858,943
0.20% 489 339 828
4,818,539
0.20% 1,436 1,010 2,445
4,903,172
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
934 966 3 1,903
- 15 -
$
888 913 2 1,803
$
1,436 1,258 11 2,705
$
3,257 3,138 17 6,412
