December 31, 2007
MEMORANDUM Finance Department INVESTMENT REPORT A significant reduction in November’s investment income is due to the LGIP withholding earnings to offset Pool B’s potential for loss. The LGIP is transferring investments that become mature, or income as a result of sale into Pool A. We anticipate a reduction in investment income within this fiscal year.
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.
STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. We have withdrawn the 100% of the Available Liquid Balance (ALB). There have been no withdrawals that were subject to the 2% redemption fee. Additionally, staff is reviewing other alternatives for placement of the Town’s surplus funds.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to ask.
2
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2007 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
6,289,977 7,504,477 34,557 10,471 331,608 75,049 14,246,139
Prior Year
$
$
889,687 7,331
Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
3
$
3,617,485 7,947,446 26,618 10,796 323,814 11,926,159
36,264 (3,151)
142,100 1,039,118
33,113
455,147 -
788,941 -
12,751,874 13,207,021 14,246,139
11,104,105 11,893,046 11,926,159
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2007
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
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 8,625,550 394,000 1,268,500 1,348,490 113,000 636,570 12,386,110
$ 5,126,341 232,832 134,518 622,044 95,705 214,149 6,425,589
878,780 7,237,380 798,640 1,015,870 1,853,390 675,990
176,878 2,466,727 181,158 217,845 352,689 48,745
701,902 4,770,653 617,482 798,025 1,500,701 627,245
112,525 2,367,576 155,234 223,098 344,617 118,255
206,950 100,000 12,767,000
60,979 3,505,021
145,971 100,000 9,261,979
60,979 3,382,284
3,301,458
2,718,175
Deficiency of revenues under expenditures
(380,890)
2,920,568
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
7,018 (566,528) 940,400 380,890
7,018 7,018
Deficiency of revenues and other financing sources under expenditures
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
4
$ (3,499,209) (161,168) (1,133,982) (726,446) (17,295) (422,421) (5,960,521)
566,528 (940,400) (373,872)
$ 5,275,883 232,008 42,812 300,564 30,498 218,694 6,100,459
-
2,927,586
2,718,175
10,279,435 $ 13,207,021
9,174,871 $ 11,893,046
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Actual
Variance Favorable (Unfavorable)
$ 6,496,550 689,000 940,000 500,000 8,625,550
$ 4,789,561 65,646 177,771 93,363 5,126,341
$ (1,706,989) (623,354) (762,229) (406,637) (3,499,209)
$ 4,975,842 82,184 172,534 45,323 5,275,883
213,500 180,500 394,000
181,446 51,386 232,832
(32,054) (129,114) (161,168)
182,663 49,345 232,008
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
100,000 365,000 25,000 12,000 745,000 21,500 1,268,500
83,720 13,144 2,619 35,035 134,518
(100,000) (281,280) (11,856) (12,000) (742,381) 13,535 (1,133,982)
Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
730,000 98,000 474,890 45,600 1,348,490
151,622 19,991 439,051 11,380 622,044
(578,378) (78,009) (35,839) (34,220) 726,446
151,050 19,794 118,628 11,092 300,564
Fines and forfeitures
113,000
95,705
(17,295)
30,498
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
375,000 155,000 72,620 14,950 19,000 636,570
80,397 36,529 13,520 64,289 14,954 4,460 214,149
(294,603) (118,471) 13,520 (8,331) 4 (14,540) (422,421)
81,539 49,159 63,858 14,954 9,184 218,694
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
7,018 940,400 947,418 $ 13,333,528
7,018 7,018 $ 6,432,607
(940,400) (940,400) $ (6,900,921)
$ 6,100,459
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
5
Prior Year Actual
87,318 13,978 134 114,940 (173,558) 42,812
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
71,820 12,700 84,520
$
18,507 4,687 23,194
Variance Favorable (Unfavorable)
$
53,313 8,013 61,326
Prior Year Actual
$
15,937 4,279 20,216
Executive: Personal services Operating Capital Total Executive
89,630 22,540 95,660 207,830
19,979 4,392 2,668 27,039
69,651 18,148 92,992 180,791
14,448 4,328 2,414 21,190
Town Clerk: Personal services Operating Capital Total Town Clerk
51,640 15,730 9,600 76,970
11,406 4,319 15,725
40,234 11,411 9,600 61,245
11,191 2,084 13,275
Financial Administration: Personal services Operating Capital Total Financial Administration
208,740 90,820 33,910 333,470
42,758 42,940 85,698
165,982 47,880 33,910 247,772
49,116 16,222 12,138 77,476
Legal Counsel: Personal services Operating Total Legal Counsel
10,620 90,000 100,620
3,248 20,540 23,788
7,372 69,460 76,832
2,877 18,491 21,368
2,250 212,290 52,980 267,520 1,070,930
4,102 4,102 179,546
2,250 208,188 52,980 263,418 891,384
1,000 (27,448) 74,854 48,406 201,931
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
6
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
317,430 68,000 385,430
69,397 42,508 111,905
248,033 25,492 273,525
87,388 43,141 130,529
2,478,560 188,370 97,670 2,764,600
550,230 36,760 38,150 625,140
1,928,330 151,610 59,520 2,139,460
414,199 43,659 8,152 466,010
-
-
-
57,804 7,868 65,672
Services: Personal services Operating Capital Total Police Services
616,910 143,120 195,060 955,090
130,012 34,503 2,000 166,515
486,898 108,617 193,060 788,575
91,997 25,005 117,002
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
336,090 19,500 355,590
67,088 1,539 68,627
269,002 17,961 286,963
59,251 2,418 61,669
3,069,400
1,534,690
1,534,710
1,534,846
7,530,110
2,506,877
5,023,233
2,375,728
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol Detectives: Personal services Operating Capital Total Detectives
Fire Control: Operating Total Public Safety
7
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
159,340 91,580 250,920
34,144 28,327 62,471
125,196 63,253 188,449
34,215 2,049 36,264
Building Inspections: Personal services Operating Capital Total Building Inspections
257,210 92,660 8,200 358,070
50,713 25,467 76,180
206,497 67,193 8,200 281,890
48,930 27,084 76,014
Code Enforcement: Personal services Operating Capital Total Code Enforcement
181,720 16,130 197,850
39,437 3,070 42,507
142,283 13,060 155,343
40,085 2,871 42,956
Total Development Services
806,840
181,158
625,682
155,234
79,480 17,370 96,850
17,425 2,232 19,657
62,055 15,138 77,193
6,106 1,720 7,826
72,850 16,570 89,420
15,712 3,625 19,337
57,138 12,945 70,083
15,944 210 16,154
Physical Environment: Public Works Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
8
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
265,770 104,750 370,520
56,583 18,390 74,973
209,187 86,360 295,547
57,408 22,289 79,697
Trash Collection: Personal services Operating Capital Total Trash Collection
263,260 99,180 362,440
62,627 19,398 82,025
200,633 79,782 280,415
72,049 24,797 96,846
81,720 14,920 96,640
18,165 3,688 21,853
63,555 11,232 74,787
18,771 3,804 22,575
1,015,870
217,845
798,025
223,098
175,900 112,720 9,000 122,500 420,120
39,170 16,151 60,979 116,300
136,730 96,569 9,000 61,521 303,820
61,945 21,593 60,979 144,517
Library: Personal services Operating Capital Total library Services
126,740 43,530 11,600 181,870
28,174 6,966 5,927 41,067
98,566 36,564 5,673 140,803
26,276 6,929 7,512 40,717
Marine Services: Personal services Operating Capital Total Marine Services
352,650 23,210 375,860
79,558 3,629 83,187
273,092 19,581 292,673
77,896 4,497 82,393
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
209,450 410,040 104,580 724,070
44,505 43,883 88,388
164,945 366,157 104,580 635,682
46,448 19,942 10,166 76,556
Building Maintenance: Personal services Operating
180,210 131,940
38,771 31,686
141,439 100,254
38,613 25,189
Recycling Collection: Personal services Operating Capital Total Recycling Collection Total Physical Environment Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
9
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
70,457
Variance Favorable (Unfavorable) 57,730 299,423
Prior Year Actual 3,019 66,821
Capital Total Building Maintenance
Budget 57,730 369,880
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
87,000 87,000 2,158,800
20,196 20,196 419,595
66,804 66,804 1,739,205
15,289 15,289 426,293
84,450 566,528 100,000 $ 13,333,528
$ 3,505,021
84,450 566,528 100,000 9,828,507
3,382,284
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
10
Actual
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2007 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
$
11
2,165,662 2,633,782 137,821 1,467,747 6,405,012
Prior Year
$
571,257 2,222,636 92,649 2,922,943 5,809,485
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
4,300 942,809 19,270,967 1,064,932 21,283,008 (9,008,785) 12,274,223
1,933,149 19,934,938
1,429,969 19,513,677
$
48,525 3,159,744 170,048
22,588 3,382,820 170,548
120,790 152,056 6,785,000 10,436,163
174,278 143,073 7,125,000 11,018,307
2,445,897 2,209,701 4,843,177 9,498,775
2,445,897 1,836,795 4,212,678 8,495,370
19,934,938
$
19,513,677
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,320,000 2,300,000 123,300 4,743,300
$
430,538 459,877 27,309 917,724
Variance Favorable (Unfavorable) $
(1,889,462) (1,840,123) (95,991) (3,825,576)
Prior YTD Actual $
491,746 472,343 19,852 983,941
871,260 1,716,130 2,587,390
199,836 227,584 427,420
671,424 1,488,546 2,159,970
229,381 155,041 384,422
920,750
214,943
705,807
229,184
Debt Services Capital outlay
1,047,500 639,950 1,687,450
170,578 17,203 187,781
876,922 622,747 1,499,669
171,059 27,371 198,430
Total operating expenses
5,195,590
830,144
4,365,446
812,036
(452,290)
87,580
(8,191,022)
171,905
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
250,000 (10,140) 212,430
29,440 -
(220,560) 10,140 (212,430)
44,492 -
Total non-operating revenues (expenses)
452,290
29,440
(422,850)
44,492
-
117,020
117,020
216,397
Administrative expenses
Operating income
Net Income Net assets, beginning Net assets, ending
$
12
9,381,755 9,498,775
$
8,278,973 8,495,370
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
47,850 9,300 57,150
$
12,339 3,108 15,447
Variance Favorable (Unfavorable)
$
35,511 6,192 41,703
$
10,624 2,863 13,487
133,550 28,380 161,930
27,721 5,443 33,164
128,766
21,057 4,406 25,463
Town Clerk: Personal services Operating
34,460 10,130
7,603 2,885
26,857 7,245
7,459 1,372
Total Town Clerk
44,590
10,488
34,102
8,831
433,520 159,610 21,480 614,610
90,829 56,562 894 148,285
342,691 103,048 20,586 466,325
87,339 36,115 1,959 125,413
2,720 25,000 27,720
828 4,526 5,354
1,892 20,474 22,366
732 4,420 5,152
2,250 12,500 14,750
2,205 2,205
2,250 10,295 12,545
1,000 49,838 50,838
920,750
214,943
705,807
229,184
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
13
105,829 22,937 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Operations Public Works Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
79,480 17,370 96,850
17,424 2,278 19,702
62,056 15,092 77,148
28,788 4,194 32,982
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
89,780 60,430 150,210
19,074 11,598 30,672
70,706 48,832 119,538
19,908 8,116 28,024
Building Maintenance Personal services Operating Total Building Maintenance
77,220 56,500 133,720
16,622 12,849 29,471
60,598 43,651 104,249
16,549 11,324 27,873
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance
72,850 16,570 8,000 97,420
15,711 2,338 5,412 23,461
57,139 14,232 2,588 73,959
15,943 1,899 17,842
345,300 464,400 314,500 1,124,200
85,903 107,699 1,450 195,052
259,397 356,701 313,050 929,148
99,663 98,860 8,122 206,645
206,630 1,100,860 317,450 1,624,940
45,102 90,822 10,341 146,265
161,528 1,010,038 307,109 1,478,675
48,530 30,648 19,249 98,427
Total operations
3,227,340
444,623
2,782,717
411,793
Debt Services Contingency
1,047,500 10,140
170,578 -
876,922 10,140
171,059 -
Total Public Works Administration
Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
$ 5,205,730
$
14
830,144
$
4,375,586
$
812,036
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) December 31, 2007 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
439,914 60,867 500,781
Prior Year
$
246,733 160,519 407,252
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
172 172
4,451 4,451
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
500,609 500,609
402,801 402,801
Total Liabilities and Equity
$
15
500,781
$
407,252
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Transfers In Total Revenues
$
280,000 8,000 566,528
$
23,884 2,553 -
$
(256,116) (5,447) -
$
44,357 1,591 -
854,528
26,437
(261,563)
45,948
115,000 5,600 2,350 250 24,850 1,500 550 150,100
18,270 1,975 305 60 4,076 420 25,106
96,730 3,625 2,045 190 20,774 1,080 550 124,994
16,718 1,975 5,055 10 12,457 227 36,442
85,500 308,500 394,000
76,894 76,894
85,500 231,606 317,106
9,241 76,895 86,136
310,428
-
310,428
-
854,528
102,000
877,522
122,578
(75,563)
(75,563)
(76,630)
Expenditures: 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
576,172
FUND BALANCE, END OF PERIOD
$
16
500,609
479,431 $
402,801
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing December 31, 2007 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
October
November
December
Total
5.62%
0.00%
4.81%
3.48%
5,590,279
5,266,586
4,466,586
5,590,279
(2,000,000)
(3,150,000) (70) 35,485
(350,000) (70) 26,377
(800,000) -
9,108
5,266,586
4,466,586
2,475,694
2,475,694
4,611,768
4,633,782
4,633,782
4,611,768
(2,000,000) 11,023
(2,000,000) (59) 33,095
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
(59) 22,072
-
4,633,782
4,633,782
2,644,805
2,644,805
171,516
172,335
172,335
171,516
(147,546) 208
(147,546) (2) 1,028
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(2) 821
-
172,335
172,335
24,997
24,997
687,557
690,839
690,839
687,557
(591,466) 832
(591,466) (9) 4,122
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(9) 3,291
-
690,839
690,839
100,204
100,204
100,943
101,425
101,425
100,943
(86,836) 122
(86,836) (1) 605
14,711
14,711
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 483 101,425 17
101,425
October
November
December
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
421,135 (5) 2,016 423,145
423,145
423,145
421,135
(362,278) 509
(362,278) (5) 2,525
423,145
61,376
61,376
0 0
21,802 21,802
76,861 (146) 76,715
0 0 0 0
9,108 12,185 509 21,802
35,415 38,781 2,520 76,715
-
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
55,059 (146) 54,913
26,307 26,596 2,010 54,913
-
FLORIDA LEAGUE OF CITIES, INC. - FLORIDA MUNICIPAL INVESTMENT TRUST FMIT Short-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal.
5.60% 823,751
12.72% 827,598
5.84% 836,368
2.03% 823,751
3,847
8,771
4,069
16,687
827,598
836,368
840,438
840,438
8.35% 400,509
22.87% 403,295
4.80% 410,981
3.02% 400,509
FMIT Intermediate-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
2,786
7,686
1,643
12,115
403,295
410,981
412,623
412,623
6,633
16,457
5,711.96
28,801
18
October
November
December
Total
Sterling Bank MMDA Investment Rate Beginning Bal.
4.63% 3,761,074
Transfers In (Out) Investment Earnings
4.63% 3,776,481
4.56% 3,790,542
4.61% 3,761,074
15,407
14,061
14,377
43,845
3,776,481
3,790,542
3,804,919
3,804,919
15,407
14,061
14,377
43,845
4.610% 0 1,458 434 1,086 (1,002)
2.930% 1,532 1,386 109 71 (992)
2.930% 14,997 10,500 759 512 (883)
3.49% 16,529 13,344 1,302
1,976
2,105
25,886
28,297
Operating Water Plant Reserve
523,639 362,706
1,194,927 364,397
10,536,711 365,010
12,255,278 1,092,112
Ending Balances
886,345
1,559,324
10,901,722
13,347,391
44,194 22,685 1,269 68,147
124,591 52,124 3,821 180,537
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
(2,877)
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
48,347 28,054 2,444 78,845
19
$
32,050 1,386 109 33,544
$
$
INVESTMENT EARNINGS 50,000
40,000
30,000
20,000
10,000
0 Oct
Nov General Fund
Utility Fund
20
Dec Transportation Fund
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.
STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. We have withdrawn the 100% of the Available Liquid Balance (ALB). There have been no withdrawals that were subject to the 2% redemption fee. Additionally, staff is reviewing other alternatives for placement of the Town’s surplus funds.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to ask.
2
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2007 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
6,289,977 7,504,477 34,557 10,471 331,608 75,049 14,246,139
Prior Year
$
$
889,687 7,331
Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
3
$
3,617,485 7,947,446 26,618 10,796 323,814 11,926,159
36,264 (3,151)
142,100 1,039,118
33,113
455,147 -
788,941 -
12,751,874 13,207,021 14,246,139
11,104,105 11,893,046 11,926,159
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2007
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
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 8,625,550 394,000 1,268,500 1,348,490 113,000 636,570 12,386,110
$ 5,126,341 232,832 134,518 622,044 95,705 214,149 6,425,589
878,780 7,237,380 798,640 1,015,870 1,853,390 675,990
176,878 2,466,727 181,158 217,845 352,689 48,745
701,902 4,770,653 617,482 798,025 1,500,701 627,245
112,525 2,367,576 155,234 223,098 344,617 118,255
206,950 100,000 12,767,000
60,979 3,505,021
145,971 100,000 9,261,979
60,979 3,382,284
3,301,458
2,718,175
Deficiency of revenues under expenditures
(380,890)
2,920,568
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
7,018 (566,528) 940,400 380,890
7,018 7,018
Deficiency of revenues and other financing sources under expenditures
-
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
4
$ (3,499,209) (161,168) (1,133,982) (726,446) (17,295) (422,421) (5,960,521)
566,528 (940,400) (373,872)
$ 5,275,883 232,008 42,812 300,564 30,498 218,694 6,100,459
-
2,927,586
2,718,175
10,279,435 $ 13,207,021
9,174,871 $ 11,893,046
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Actual
Variance Favorable (Unfavorable)
$ 6,496,550 689,000 940,000 500,000 8,625,550
$ 4,789,561 65,646 177,771 93,363 5,126,341
$ (1,706,989) (623,354) (762,229) (406,637) (3,499,209)
$ 4,975,842 82,184 172,534 45,323 5,275,883
213,500 180,500 394,000
181,446 51,386 232,832
(32,054) (129,114) (161,168)
182,663 49,345 232,008
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
100,000 365,000 25,000 12,000 745,000 21,500 1,268,500
83,720 13,144 2,619 35,035 134,518
(100,000) (281,280) (11,856) (12,000) (742,381) 13,535 (1,133,982)
Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
730,000 98,000 474,890 45,600 1,348,490
151,622 19,991 439,051 11,380 622,044
(578,378) (78,009) (35,839) (34,220) 726,446
151,050 19,794 118,628 11,092 300,564
Fines and forfeitures
113,000
95,705
(17,295)
30,498
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
375,000 155,000 72,620 14,950 19,000 636,570
80,397 36,529 13,520 64,289 14,954 4,460 214,149
(294,603) (118,471) 13,520 (8,331) 4 (14,540) (422,421)
81,539 49,159 63,858 14,954 9,184 218,694
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
7,018 940,400 947,418 $ 13,333,528
7,018 7,018 $ 6,432,607
(940,400) (940,400) $ (6,900,921)
$ 6,100,459
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
5
Prior Year Actual
87,318 13,978 134 114,940 (173,558) 42,812
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
71,820 12,700 84,520
$
18,507 4,687 23,194
Variance Favorable (Unfavorable)
$
53,313 8,013 61,326
Prior Year Actual
$
15,937 4,279 20,216
Executive: Personal services Operating Capital Total Executive
89,630 22,540 95,660 207,830
19,979 4,392 2,668 27,039
69,651 18,148 92,992 180,791
14,448 4,328 2,414 21,190
Town Clerk: Personal services Operating Capital Total Town Clerk
51,640 15,730 9,600 76,970
11,406 4,319 15,725
40,234 11,411 9,600 61,245
11,191 2,084 13,275
Financial Administration: Personal services Operating Capital Total Financial Administration
208,740 90,820 33,910 333,470
42,758 42,940 85,698
165,982 47,880 33,910 247,772
49,116 16,222 12,138 77,476
Legal Counsel: Personal services Operating Total Legal Counsel
10,620 90,000 100,620
3,248 20,540 23,788
7,372 69,460 76,832
2,877 18,491 21,368
2,250 212,290 52,980 267,520 1,070,930
4,102 4,102 179,546
2,250 208,188 52,980 263,418 891,384
1,000 (27,448) 74,854 48,406 201,931
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
6
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
317,430 68,000 385,430
69,397 42,508 111,905
248,033 25,492 273,525
87,388 43,141 130,529
2,478,560 188,370 97,670 2,764,600
550,230 36,760 38,150 625,140
1,928,330 151,610 59,520 2,139,460
414,199 43,659 8,152 466,010
-
-
-
57,804 7,868 65,672
Services: Personal services Operating Capital Total Police Services
616,910 143,120 195,060 955,090
130,012 34,503 2,000 166,515
486,898 108,617 193,060 788,575
91,997 25,005 117,002
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
336,090 19,500 355,590
67,088 1,539 68,627
269,002 17,961 286,963
59,251 2,418 61,669
3,069,400
1,534,690
1,534,710
1,534,846
7,530,110
2,506,877
5,023,233
2,375,728
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol Detectives: Personal services Operating Capital Total Detectives
Fire Control: Operating Total Public Safety
7
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
159,340 91,580 250,920
34,144 28,327 62,471
125,196 63,253 188,449
34,215 2,049 36,264
Building Inspections: Personal services Operating Capital Total Building Inspections
257,210 92,660 8,200 358,070
50,713 25,467 76,180
206,497 67,193 8,200 281,890
48,930 27,084 76,014
Code Enforcement: Personal services Operating Capital Total Code Enforcement
181,720 16,130 197,850
39,437 3,070 42,507
142,283 13,060 155,343
40,085 2,871 42,956
Total Development Services
806,840
181,158
625,682
155,234
79,480 17,370 96,850
17,425 2,232 19,657
62,055 15,138 77,193
6,106 1,720 7,826
72,850 16,570 89,420
15,712 3,625 19,337
57,138 12,945 70,083
15,944 210 16,154
Physical Environment: Public Works Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
8
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
265,770 104,750 370,520
56,583 18,390 74,973
209,187 86,360 295,547
57,408 22,289 79,697
Trash Collection: Personal services Operating Capital Total Trash Collection
263,260 99,180 362,440
62,627 19,398 82,025
200,633 79,782 280,415
72,049 24,797 96,846
81,720 14,920 96,640
18,165 3,688 21,853
63,555 11,232 74,787
18,771 3,804 22,575
1,015,870
217,845
798,025
223,098
175,900 112,720 9,000 122,500 420,120
39,170 16,151 60,979 116,300
136,730 96,569 9,000 61,521 303,820
61,945 21,593 60,979 144,517
Library: Personal services Operating Capital Total library Services
126,740 43,530 11,600 181,870
28,174 6,966 5,927 41,067
98,566 36,564 5,673 140,803
26,276 6,929 7,512 40,717
Marine Services: Personal services Operating Capital Total Marine Services
352,650 23,210 375,860
79,558 3,629 83,187
273,092 19,581 292,673
77,896 4,497 82,393
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
209,450 410,040 104,580 724,070
44,505 43,883 88,388
164,945 366,157 104,580 635,682
46,448 19,942 10,166 76,556
Building Maintenance: Personal services Operating
180,210 131,940
38,771 31,686
141,439 100,254
38,613 25,189
Recycling Collection: Personal services Operating Capital Total Recycling Collection Total Physical Environment Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
9
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2007
70,457
Variance Favorable (Unfavorable) 57,730 299,423
Prior Year Actual 3,019 66,821
Capital Total Building Maintenance
Budget 57,730 369,880
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
87,000 87,000 2,158,800
20,196 20,196 419,595
66,804 66,804 1,739,205
15,289 15,289 426,293
84,450 566,528 100,000 $ 13,333,528
$ 3,505,021
84,450 566,528 100,000 9,828,507
3,382,284
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
10
Actual
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2007 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
$
11
2,165,662 2,633,782 137,821 1,467,747 6,405,012
Prior Year
$
571,257 2,222,636 92,649 2,922,943 5,809,485
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
4,300 942,809 19,270,967 1,064,932 21,283,008 (9,008,785) 12,274,223
1,933,149 19,934,938
1,429,969 19,513,677
$
48,525 3,159,744 170,048
22,588 3,382,820 170,548
120,790 152,056 6,785,000 10,436,163
174,278 143,073 7,125,000 11,018,307
2,445,897 2,209,701 4,843,177 9,498,775
2,445,897 1,836,795 4,212,678 8,495,370
19,934,938
$
19,513,677
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,320,000 2,300,000 123,300 4,743,300
$
430,538 459,877 27,309 917,724
Variance Favorable (Unfavorable) $
(1,889,462) (1,840,123) (95,991) (3,825,576)
Prior YTD Actual $
491,746 472,343 19,852 983,941
871,260 1,716,130 2,587,390
199,836 227,584 427,420
671,424 1,488,546 2,159,970
229,381 155,041 384,422
920,750
214,943
705,807
229,184
Debt Services Capital outlay
1,047,500 639,950 1,687,450
170,578 17,203 187,781
876,922 622,747 1,499,669
171,059 27,371 198,430
Total operating expenses
5,195,590
830,144
4,365,446
812,036
(452,290)
87,580
(8,191,022)
171,905
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
250,000 (10,140) 212,430
29,440 -
(220,560) 10,140 (212,430)
44,492 -
Total non-operating revenues (expenses)
452,290
29,440
(422,850)
44,492
-
117,020
117,020
216,397
Administrative expenses
Operating income
Net Income Net assets, beginning Net assets, ending
$
12
9,381,755 9,498,775
$
8,278,973 8,495,370
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
47,850 9,300 57,150
$
12,339 3,108 15,447
Variance Favorable (Unfavorable)
$
35,511 6,192 41,703
$
10,624 2,863 13,487
133,550 28,380 161,930
27,721 5,443 33,164
128,766
21,057 4,406 25,463
Town Clerk: Personal services Operating
34,460 10,130
7,603 2,885
26,857 7,245
7,459 1,372
Total Town Clerk
44,590
10,488
34,102
8,831
433,520 159,610 21,480 614,610
90,829 56,562 894 148,285
342,691 103,048 20,586 466,325
87,339 36,115 1,959 125,413
2,720 25,000 27,720
828 4,526 5,354
1,892 20,474 22,366
732 4,420 5,152
2,250 12,500 14,750
2,205 2,205
2,250 10,295 12,545
1,000 49,838 50,838
920,750
214,943
705,807
229,184
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
13
105,829 22,937 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2007
Budget Operations Public Works Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
79,480 17,370 96,850
17,424 2,278 19,702
62,056 15,092 77,148
28,788 4,194 32,982
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
89,780 60,430 150,210
19,074 11,598 30,672
70,706 48,832 119,538
19,908 8,116 28,024
Building Maintenance Personal services Operating Total Building Maintenance
77,220 56,500 133,720
16,622 12,849 29,471
60,598 43,651 104,249
16,549 11,324 27,873
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance
72,850 16,570 8,000 97,420
15,711 2,338 5,412 23,461
57,139 14,232 2,588 73,959
15,943 1,899 17,842
345,300 464,400 314,500 1,124,200
85,903 107,699 1,450 195,052
259,397 356,701 313,050 929,148
99,663 98,860 8,122 206,645
206,630 1,100,860 317,450 1,624,940
45,102 90,822 10,341 146,265
161,528 1,010,038 307,109 1,478,675
48,530 30,648 19,249 98,427
Total operations
3,227,340
444,623
2,782,717
411,793
Debt Services Contingency
1,047,500 10,140
170,578 -
876,922 10,140
171,059 -
Total Public Works Administration
Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
$ 5,205,730
$
14
830,144
$
4,375,586
$
812,036
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) December 31, 2007 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
439,914 60,867 500,781
Prior Year
$
246,733 160,519 407,252
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
172 172
4,451 4,451
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
500,609 500,609
402,801 402,801
Total Liabilities and Equity
$
15
500,781
$
407,252
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended December 31, 2007
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Transfers In Total Revenues
$
280,000 8,000 566,528
$
23,884 2,553 -
$
(256,116) (5,447) -
$
44,357 1,591 -
854,528
26,437
(261,563)
45,948
115,000 5,600 2,350 250 24,850 1,500 550 150,100
18,270 1,975 305 60 4,076 420 25,106
96,730 3,625 2,045 190 20,774 1,080 550 124,994
16,718 1,975 5,055 10 12,457 227 36,442
85,500 308,500 394,000
76,894 76,894
85,500 231,606 317,106
9,241 76,895 86,136
310,428
-
310,428
-
854,528
102,000
877,522
122,578
(75,563)
(75,563)
(76,630)
Expenditures: 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
576,172
FUND BALANCE, END OF PERIOD
$
16
500,609
479,431 $
402,801
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing December 31, 2007 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
October
November
December
Total
5.62%
0.00%
4.81%
3.48%
5,590,279
5,266,586
4,466,586
5,590,279
(2,000,000)
(3,150,000) (70) 35,485
(350,000) (70) 26,377
(800,000) -
9,108
5,266,586
4,466,586
2,475,694
2,475,694
4,611,768
4,633,782
4,633,782
4,611,768
(2,000,000) 11,023
(2,000,000) (59) 33,095
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
(59) 22,072
-
4,633,782
4,633,782
2,644,805
2,644,805
171,516
172,335
172,335
171,516
(147,546) 208
(147,546) (2) 1,028
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(2) 821
-
172,335
172,335
24,997
24,997
687,557
690,839
690,839
687,557
(591,466) 832
(591,466) (9) 4,122
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(9) 3,291
-
690,839
690,839
100,204
100,204
100,943
101,425
101,425
100,943
(86,836) 122
(86,836) (1) 605
14,711
14,711
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 483 101,425 17
101,425
October
November
December
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
421,135 (5) 2,016 423,145
423,145
423,145
421,135
(362,278) 509
(362,278) (5) 2,525
423,145
61,376
61,376
0 0
21,802 21,802
76,861 (146) 76,715
0 0 0 0
9,108 12,185 509 21,802
35,415 38,781 2,520 76,715
-
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
55,059 (146) 54,913
26,307 26,596 2,010 54,913
-
FLORIDA LEAGUE OF CITIES, INC. - FLORIDA MUNICIPAL INVESTMENT TRUST FMIT Short-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal.
5.60% 823,751
12.72% 827,598
5.84% 836,368
2.03% 823,751
3,847
8,771
4,069
16,687
827,598
836,368
840,438
840,438
8.35% 400,509
22.87% 403,295
4.80% 410,981
3.02% 400,509
FMIT Intermediate-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
2,786
7,686
1,643
12,115
403,295
410,981
412,623
412,623
6,633
16,457
5,711.96
28,801
18
October
November
December
Total
Sterling Bank MMDA Investment Rate Beginning Bal.
4.63% 3,761,074
Transfers In (Out) Investment Earnings
4.63% 3,776,481
4.56% 3,790,542
4.61% 3,761,074
15,407
14,061
14,377
43,845
3,776,481
3,790,542
3,804,919
3,804,919
15,407
14,061
14,377
43,845
4.610% 0 1,458 434 1,086 (1,002)
2.930% 1,532 1,386 109 71 (992)
2.930% 14,997 10,500 759 512 (883)
3.49% 16,529 13,344 1,302
1,976
2,105
25,886
28,297
Operating Water Plant Reserve
523,639 362,706
1,194,927 364,397
10,536,711 365,010
12,255,278 1,092,112
Ending Balances
886,345
1,559,324
10,901,722
13,347,391
44,194 22,685 1,269 68,147
124,591 52,124 3,821 180,537
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
(2,877)
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
48,347 28,054 2,444 78,845
19
$
32,050 1,386 109 33,544
$
$
INVESTMENT EARNINGS 50,000
40,000
30,000
20,000
10,000
0 Oct
Nov General Fund
Utility Fund
20
Dec Transportation Fund
