The Town of Lantana, Florida AWS
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 and Fund B), TD Bank, and SunTrust, with the majority at SunTrust. During December 2013 and January 2014, significant funds were reallocated to increase yield potential. 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 superior 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 LOCAL GOVERNMENT SURPLUS TRUST FUNDS INVESTMENT POOL As of December 31st, $345,742 was in the Florida Prime account which is liquid and available for withdrawal. In Fund B, the balance was $71,085 which is not liquid nor is it available for withdrawal. The total fiscal-year-to-date unrealized gain is $14,972 for all Fund B accounts. If you have any questions, please do not hesitate to contact me.
BUDGET-IN-BRIEF as of December 31, 2013 (25% of year elapsed) YTD-Townwide Expense Allocation
Capital, 126,172 , 4%
Other Town Funds
Debt, 152,196 , 5% Wages, 1,091,455 , 33%
Operating & Maint., 1,287,059 , 39%
Benefits, 641,152 , 19%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,972,876 2,488,888 7,461,764 7,461,764
Year-to-Date 972,569 972,569 941,879
% 19.6% 0.0% 13.0% 12.6%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 3,851 3,851 3,851
Year-to-Date 441 441 -
% 11.5% N/A 11.5% 0.0%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 5 829
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 315,810 315,810 315,810
Year-to-Date 136,653 136,653 6,450
% 43.3% N/A 43.3% 2.0%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 397,320 397,320 397,320
Year-to-Date 79,968 79,968 242,551
% 20.1% N/A 20.1% 61.0%
General Fund Revenues Revenues Budget Year-to-Date Taxes 4,673,687 2,235,225 Licenses & Permits 1,086,092 728,121 Intergovernmental Revenue 1,202,503 147,356 Charges for Services 785,612 608,603 Fines & Forfeitures 105,040 47,496 Misc. Revenue 578,864 358,634 Appropriations & Carryover 964,307 Total Revenues $ 9,396,105 $ 4,125,435
% 47.8% 67.0% 12.3% 77.5% 45.2% 62.0% 0.0% 43.9%
General Fund Expenditures Expenditures Budget Year-to-Date Town Council 114,843 32,813 Town Manager 191,226 42,815 Finance 346,945 84,771 Town Attorney 183,075 25,901 Non-Departmental 120,232 77,478 Police 4,163,611 962,396 Development Services 635,112 117,630 Public Works 2,033,260 544,431
% 28.6% 22.4% 24.4% 14.1% 64.4% 23.1% 18.5% 26.8%
Library
158,635
31,871
20.1%
Holiday Events Capital Outlay
78,042 940,424
20,222 28,124
25.9% 3.0%
Expenditures
Debt Service
430,700
137,873
32.0%
Total Townwide Budget
2,106,325
22.4%
(not including Police Forfeiture Fund)
Total Expenditures
$
9,396,105
$
YTD-Total Townwide Budget Budget Year-to-Date 17,574,850
3,297,205
% 18.8%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2013 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
$
10,220,974 234,437 3,188 12,537 274,481 (13,951) 10,731,666
Prior Year
$
$
8,850,253 279,042 45,117 12,193 276,930 (13,677) 9,449,858
205,262 16,813
248,437 10,588
103,521 325,596
144,089 403,114
328,798 10,077,272 10,406,070 10,731,666
551,118 8,495,626 9,046,744 9,449,858
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2013
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 general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
Budget
Actual
Variance Favorable (Unfavorable)
$ 4,673,687 1,086,092 1,202,503 785,612 105,040 428,864 8,281,798
$ 2,235,226 728,121 147,355 608,603 47,496 344,233 4,111,034
$ (2,438,461) (357,971) (1,055,148) (177,009) (57,544) (84,631) (4,170,764)
956,321 4,163,611 635,112 1,304,121 965,816 940,424
263,779 1,029,037 117,631 321,581 208,298 28,124
692,542 3,134,574 517,481 982,540 757,518 912,300
250,736 975,682 139,873 246,628 213,048 177,512
430,700 9,396,105
137,873 2,106,323
292,827 7,289,782
137,873 2,141,352
(1,114,307)
2,004,711
3,119,018
698,694
(135,600) (671,019) (293,288) (1,099,907)
Prior Year Actual $ 1,830,890 254,751 131,790 353,953 30,106 238,556 2,840,046
150,000 671,019 293,288 1,114,307
14,400 14,400
-
-
2,019,111
698,693
8,386,963 $ 10,406,070
8,348,051 $ 9,046,744
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget
Actual
$ 2,133,000 979,596 1,008,768 293,000 259,323 4,673,687
$ 1,651,408 336,793 200,751 24,221 22,053 2,235,226
Licenses, permits & fees: Business tax receipts Building and other permits Solid waste assessment Total licenses, permits & fees
264,386 232,423 589,283 1,086,092
Intergovernmental revenues: State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
312,000 22,603 11,100 725,000 131,800 1,202,503
Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Gasoline taxes Total taxes
Variance Favorable (Unfavorable) $
Prior Year Actual
(481,592) (642,803) (808,017) (268,779) (237,270) (2,438,461)
$ 1,518,247 60,385 183,747 47,022 21,489 1,830,890
197,666 98,807 431,648 728,121
(66,720) (133,616) (157,635) (357,971)
195,462 59,289 254,751
76,964 10,041 60,350 147,355
(235,036) (12,562) (11,100) (664,650) (131,800) (1,055,148)
74,352 2,215 55,223 131,790
734,179 51,433 785,612
595,842 12,761 608,603
(138,337) (38,672) 177,009
149,408 19,972 171,950 12,623 353,953
Fines and forfeitures
105,040
47,496
(57,544)
30,106
Miscellaneous revenues: Interest Beach parking Contributions Leases Other Total miscellaneous revenues
11,445 132,500 20,000 207,633 57,286 428,864
7,871 45,379 20,000 186,780 84,203 344,233
(3,574) (87,121) (20,853) 26,917 (84,631)
4,477 30,984 172,478 30,617 238,556
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
150,000 671,019 293,288 1,114,307 $ 9,396,105
14,400 14,400 $ 4,125,434
(135,600) (671,019) (293,288) (1,099,907) $ (5,270,671)
$ 2,840,046
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget General government: Legislative: Personal services Operating Total Legislative
$
64,490 50,353 114,843
Actual
$
19,159 13,654 32,813
Variance Favorable (Unfavorable)
$
45,331 36,699 82,030
Prior Year Actual
$
14,822 5,843 20,665
Executive: Personal services Operating Capital Total Executive
110,900 11,208 122,108
25,555 1,689 27,244
85,345 9,519 94,864
23,945 2,729 3,851 30,525
Town Clerk: Personal services Operating Capital Total Town Clerk
45,905 23,213 69,118
10,928 4,643 15,571
34,977 18,570 53,547
11,283 5,391 16,674
Finance: Personal services Operating Capital Total Finance
244,700 102,245 55,860 402,805
54,802 29,970 1,980 86,752
189,898 72,275 53,880 316,053
54,096 29,295 1,851 85,242
Legal Counsel: Personal services Operating Total Legal Counsel
12,740 170,335 183,075
4,130 21,771 25,901
8,610 148,564 157,174
3,862 17,651 21,513
119,232 45,552 1,000 165,784 1,057,733
77,478 77,478 265,759
41,754 45,552 1,000 88,306 791,974
81,819 81,819 256,438
394,050 70,267 4,700 469,017
94,607 44,373 138,980
299,443 25,894 4,700 330,037
95,349 45,412 140,761
Non-Departmental Personal services Operating Capital Other Expenses Total Non-Departmental Total General Government Public Safety: Administration: Personal services Operating Capital Total Administration
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Uniform Patrol: Personal services Operating Capital Total Uniform Patrol
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
2,174,640 165,337 6,757 2,346,734
509,592 31,561 15,896 557,049
1,665,048 133,776 (9,139) 1,789,685
Detectives: Personal services Operating Capital Total Detectives
235,240 26,552 76,750 338,542
56,647 1,961 58,608
178,593 24,591 76,750 279,934
-
Services: Personal services Operating Capital Total Police Services
239,580 146,259 385,839
59,370 60,207 119,577
180,210 86,052 266,262
107,285 32,356 5,432 145,073
Uniform Patrol (Hypoluxo): Personal services Operating Capital Total Uniform Patrol (Hypoluxo)
398,340 22,990 2,950 424,280
100,316 3,761 104,077
298,024 19,229 2,950 320,203
88,942 4,397 93,339
Marine Safety: Personal services Operating Capital Total Marine Safety
272,420 17,936 23,115 313,471
64,614 2,028 66,642
207,806 15,908 23,115 246,829
64,700 2,526 6,932 74,158
4,277,883
1,044,933
3,232,950
998,192
172,950 12,190 185,140
27,303 2,207 29,510
145,647 9,983 155,630
42,015 3,380 1,173 46,568
139,957 109,070 12,000 261,027
15,737 27,730 43,467
124,220 81,340 12,000 217,560
28,820 23,914 52,734
Total Public Safety Development Services: Administration : Personal services Operating Capital Total Administration Building Inspections: Personal services Operating Capital Total Building Inspections
497,722 36,993 10,146 544,861
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Code Enforcement: Personal services Operating Capital Total Code Enforcement
181,115 19,830 200,945
41,799 2,855 44,654
139,316 16,975 156,291
39,507 2,237 41,744
Total Development Services
647,112
117,631
529,481
141,046
Physical Environment: Public Works Administration Personal services Operating Capital Total Operations Administration
171,540 18,690 190,230
41,127 3,210 44,337
130,413 15,480 145,893
28,850 3,277 32,127
61,793 10,896 1,299 73,988
14,606 8,824 1,436 24,866
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
-
-
-
42,645 24,329 66,974
Trash Collection: Personal services Operating Capital Total Trash Collection
-
-
-
54,335 26,880 81,215
Recycling Collection: Personal services Operating Capital Total Recycling Collection
-
-
-
11,868 3,814 15,682
Streets & Sanitation: Personal services Operating Capital Total Streets & Sanitation
160,749 880,453 221,726 1,262,928
41,857 211,957 253,814
118,892 668,496 221,726 1,009,114
33,420 134,009 167,429
Total Physical Environment
1,527,146
323,017
1,204,129
384,098
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
47,187 2,072 (137) 49,122
15,368 1,842 3,461 20,671
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Cultural and Recreation: Sports Complex: Operating Debt service Total Sports Complex Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
9,260 122,200 131,460
1,472 60,979 62,451
7,788 61,221 69,009
1,238 60,979 62,217
Library: Personal services Operating Capital Total Library services
108,530 50,105 34,677 193,312
25,105 6,766 3,121 34,992
83,425 43,339 31,556 158,320
25,130 4,300 3,555 32,985
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
219,436 216,081 350,142 785,659
55,262 30,606 3,793 89,661
164,174 185,475 346,349 695,998
79,038 28,648 888 108,574
Facilities Maintenance: Personal services Operating Capital Total Building Maintenance
156,299 128,063 104,896 389,258
37,086 31,779 1,898 70,763
119,213 96,284 102,998 318,495
42,038 31,124 6,214 79,376
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
78,042 78,042 1,577,731
20,222 20,222 278,089
57,820 57,820 1,299,642
1,532 1,532 284,684
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
308,500 9,396,105
76,894 2,106,323
231,606 7,289,782
76,894 2,141,352
$
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2013 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 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
$
4,300 509,892 20,737,967 791,817 5,146 18,445 22,067,567 (13,143,593) 8,923,974
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
8,204,910 230,087 131,377 412,048 8,978,422
Prior Year
$
1,066,495 18,968,891
8,497,219 281,209 166,113 411,596 9,356,136 4,300 509,892 20,486,913 810,847 19,142 193,821 22,024,915 (12,513,800) 9,511,115
$
1,261,785 20,129,036
151,888 5,266,551
1,327,238 1,897,201 170,407
158,362 230,589 27,760 5,835,150
140,007 213,206 4,871,805 8,619,864
2,445,897 987,359 9,700,485 13,133,741
2,445,897 1,859,035 7,204,240 11,509,172
18,968,891
$
20,129,036
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2013
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
2,457,136 2,359,779 148,656 4,965,571
$
483,525 452,039 28,003 963,567
$
(1,973,611) (1,907,740) (120,653) (4,002,004)
Prior YTD Actual $
447,286 442,776 31,990 922,052
829,446 1,581,197 2,410,643
212,018 424,266 636,284
617,428 1,156,931 1,774,359
182,792 379,757 562,549
902,095
196,044
706,051
184,830
Debt Services Capital outlay
860,450 3,288,576 4,149,026
14,323 95,228 109,551
846,127 3,193,348 4,039,475
178,939 171,839 350,778
Total operating expenses
7,461,764
941,879
6,519,885
1,098,157
(2,496,193)
21,688
(10,521,889)
Administrative expenses
Operating income/(loss)
(176,105)
Non-operating revenues (expenses) Investment income Sale of assets Settlements-Lake Worth Operating Transfers Out Retained Earnings-capital carryforward
7,305 -
9,002
2,488,888
-
(2,488,888)
5,047 -
Total non-operating revenues (expenses)
2,496,193
9,002
(2,487,191)
5,047
-
30,690
Net income/(loss) Net assets, beginning Net assets, ending
13,103,051 $ 13,133,741
1,697 -
30,690
(171,058) 11,680,232 $ 11,509,172
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
42,805 32,854 75,659
Actual
$
12,780 9,102 21,882
Variance Favorable (Unfavorable)
$
30,025 23,752 53,777
Prior Year Actual
$
9,882 3,895 13,777
110,900 11,938 122,838
25,554 1,689 27,243
85,346 10,249 95,595
23,944 2,744 26,688
Town Clerk: Personal services Operating
30,875 15,532
7,292 3,095
23,583 12,437
7,520 3,592
Total Town Clerk
46,407
10,387
36,020
11,112
Finance Personal services Operating Capital Total Finance
399,510 167,974 30,000 597,484
82,287 41,832 2,820 126,939
317,223 126,142 27,180 470,545
82,402 35,479 2,349 120,230
3,250 39,570 42,820
1,033 5,622 6,655
2,217 33,948 36,165
971 9,477 10,448
16,887 16,887
2,938 2,938
13,949 13,949
2,575 2,575
902,095
196,044
706,051
184,830
Total executive
Legal: Personal services Operating Total Legal Non Departmental: Personal services Operating Capital Total Non Departmental Total Administrative
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Public Works/Utilities Utilities Administration Personal services Operating Capital Total Utilities Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations Total operations/utilities Debt Services Transfers Out Contingency TOTAL EXPENDITURES
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
140,728 64,694 205,422
35,561 18,574 54,135
105,167 46,120 151,287
32,392 3,886 36,278
61,793 12,195 73,988
14,605 1,339 15,944
47,188 10,856 58,044
15,366 1,948 17,314
449,795 555,921 926,865 1,932,581
121,299 100,629 57,340 279,268
328,496 455,292 869,525 1,653,313
98,255 94,555 10,582 203,392
177,130 948,387 2,361,711 3,487,228
40,553 303,724 37,888 382,165
136,577 644,663 2,323,823 3,105,063
36,779 279,368 161,257 477,404
5,699,219
731,512
4,967,707
734,388
860,450 -
14,323 -
846,127 -
178,939 -
6,519,885
$ 1,098,157
$ 7,461,764
$
941,879
$
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2013 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES FLORIDA PRIME AND FUND B October SBA Rate General Fund
November
0.18%
Beginning Bal.
177,465
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
December
0.17% 177,486 -
Total
0.16% 177,506 -
0.17% 177,465 -
21
20
19
61
177,486
177,506
177,526
177,526
184,108
184,130
184,151
184,108
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
-
-
-
-
22
21
20
63
184,130
184,151
184,171
184,171
6,840
6,841
6,842
6,840
-
-
-
-
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
1
1
2
6,841
6,842
6,843
6,843
27,442
27,445
27,448
27,442
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
3
3
3
9
27,445
27,448
27,451
27,451
4,023
4,024
4,024
4,023
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
0
0
1
4,024
4,024
4,024
4,024
October
November
December
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
16,806
16,808
16,810
16,806
-
-
-
-
2
2
2
6
16,808
16,810
16,812
16,812
50
47
46
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
50
47
46
143 143
23 27 50
22 25 47
21 24 46
67 76 143
-
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)
0.40% 0.07% 433 451 3 (564)
0.40% 0.07% 412 459 3 (732)
0.40% 0.07% 443 308 3 (368)
323
143
385
Operating Demand Deposit Water Plant Reserve
15,122,983 2,000,000 373,703
13,480,513 4,000,000 373,733
10,948,425 4,000,000 373,762
Ending Balances
17,496,685
17,854,246
15,322,188
Investment Earnings
0.40% 0.07% 1,289 1,218 8 (1,664) 851
Ending Account Balances per Statement
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Ending Balance
0.20% 22
0.20% 26
129,447
0.20% 261 182 4,872,525
213,278
0.20% 309 182
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
457 499 3 959
$
434 511 3 948
$
646 594 3 1,243
$
1,537 1,604 8 3,149
STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT SURPLUS TRUST FUNDS INVESTMENT POOL As of December 31st, $345,742 was in the Florida Prime account which is liquid and available for withdrawal. In Fund B, the balance was $71,085 which is not liquid nor is it available for withdrawal. The total fiscal-year-to-date unrealized gain is $14,972 for all Fund B accounts. If you have any questions, please do not hesitate to contact me.
BUDGET-IN-BRIEF as of December 31, 2013 (25% of year elapsed) YTD-Townwide Expense Allocation
Capital, 126,172 , 4%
Other Town Funds
Debt, 152,196 , 5% Wages, 1,091,455 , 33%
Operating & Maint., 1,287,059 , 39%
Benefits, 641,152 , 19%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,972,876 2,488,888 7,461,764 7,461,764
Year-to-Date 972,569 972,569 941,879
% 19.6% 0.0% 13.0% 12.6%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 3,851 3,851 3,851
Year-to-Date 441 441 -
% 11.5% N/A 11.5% 0.0%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 5 829
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 315,810 315,810 315,810
Year-to-Date 136,653 136,653 6,450
% 43.3% N/A 43.3% 2.0%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 397,320 397,320 397,320
Year-to-Date 79,968 79,968 242,551
% 20.1% N/A 20.1% 61.0%
General Fund Revenues Revenues Budget Year-to-Date Taxes 4,673,687 2,235,225 Licenses & Permits 1,086,092 728,121 Intergovernmental Revenue 1,202,503 147,356 Charges for Services 785,612 608,603 Fines & Forfeitures 105,040 47,496 Misc. Revenue 578,864 358,634 Appropriations & Carryover 964,307 Total Revenues $ 9,396,105 $ 4,125,435
% 47.8% 67.0% 12.3% 77.5% 45.2% 62.0% 0.0% 43.9%
General Fund Expenditures Expenditures Budget Year-to-Date Town Council 114,843 32,813 Town Manager 191,226 42,815 Finance 346,945 84,771 Town Attorney 183,075 25,901 Non-Departmental 120,232 77,478 Police 4,163,611 962,396 Development Services 635,112 117,630 Public Works 2,033,260 544,431
% 28.6% 22.4% 24.4% 14.1% 64.4% 23.1% 18.5% 26.8%
Library
158,635
31,871
20.1%
Holiday Events Capital Outlay
78,042 940,424
20,222 28,124
25.9% 3.0%
Expenditures
Debt Service
430,700
137,873
32.0%
Total Townwide Budget
2,106,325
22.4%
(not including Police Forfeiture Fund)
Total Expenditures
$
9,396,105
$
YTD-Total Townwide Budget Budget Year-to-Date 17,574,850
3,297,205
% 18.8%
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) December 31, 2013 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
$
10,220,974 234,437 3,188 12,537 274,481 (13,951) 10,731,666
Prior Year
$
$
8,850,253 279,042 45,117 12,193 276,930 (13,677) 9,449,858
205,262 16,813
248,437 10,588
103,521 325,596
144,089 403,114
328,798 10,077,272 10,406,070 10,731,666
551,118 8,495,626 9,046,744 9,449,858
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended December 31, 2013
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 general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
Budget
Actual
Variance Favorable (Unfavorable)
$ 4,673,687 1,086,092 1,202,503 785,612 105,040 428,864 8,281,798
$ 2,235,226 728,121 147,355 608,603 47,496 344,233 4,111,034
$ (2,438,461) (357,971) (1,055,148) (177,009) (57,544) (84,631) (4,170,764)
956,321 4,163,611 635,112 1,304,121 965,816 940,424
263,779 1,029,037 117,631 321,581 208,298 28,124
692,542 3,134,574 517,481 982,540 757,518 912,300
250,736 975,682 139,873 246,628 213,048 177,512
430,700 9,396,105
137,873 2,106,323
292,827 7,289,782
137,873 2,141,352
(1,114,307)
2,004,711
3,119,018
698,694
(135,600) (671,019) (293,288) (1,099,907)
Prior Year Actual $ 1,830,890 254,751 131,790 353,953 30,106 238,556 2,840,046
150,000 671,019 293,288 1,114,307
14,400 14,400
-
-
2,019,111
698,693
8,386,963 $ 10,406,070
8,348,051 $ 9,046,744
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget
Actual
$ 2,133,000 979,596 1,008,768 293,000 259,323 4,673,687
$ 1,651,408 336,793 200,751 24,221 22,053 2,235,226
Licenses, permits & fees: Business tax receipts Building and other permits Solid waste assessment Total licenses, permits & fees
264,386 232,423 589,283 1,086,092
Intergovernmental revenues: State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
312,000 22,603 11,100 725,000 131,800 1,202,503
Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Gasoline taxes Total taxes
Variance Favorable (Unfavorable) $
Prior Year Actual
(481,592) (642,803) (808,017) (268,779) (237,270) (2,438,461)
$ 1,518,247 60,385 183,747 47,022 21,489 1,830,890
197,666 98,807 431,648 728,121
(66,720) (133,616) (157,635) (357,971)
195,462 59,289 254,751
76,964 10,041 60,350 147,355
(235,036) (12,562) (11,100) (664,650) (131,800) (1,055,148)
74,352 2,215 55,223 131,790
734,179 51,433 785,612
595,842 12,761 608,603
(138,337) (38,672) 177,009
149,408 19,972 171,950 12,623 353,953
Fines and forfeitures
105,040
47,496
(57,544)
30,106
Miscellaneous revenues: Interest Beach parking Contributions Leases Other Total miscellaneous revenues
11,445 132,500 20,000 207,633 57,286 428,864
7,871 45,379 20,000 186,780 84,203 344,233
(3,574) (87,121) (20,853) 26,917 (84,631)
4,477 30,984 172,478 30,617 238,556
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
150,000 671,019 293,288 1,114,307 $ 9,396,105
14,400 14,400 $ 4,125,434
(135,600) (671,019) (293,288) (1,099,907) $ (5,270,671)
$ 2,840,046
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget General government: Legislative: Personal services Operating Total Legislative
$
64,490 50,353 114,843
Actual
$
19,159 13,654 32,813
Variance Favorable (Unfavorable)
$
45,331 36,699 82,030
Prior Year Actual
$
14,822 5,843 20,665
Executive: Personal services Operating Capital Total Executive
110,900 11,208 122,108
25,555 1,689 27,244
85,345 9,519 94,864
23,945 2,729 3,851 30,525
Town Clerk: Personal services Operating Capital Total Town Clerk
45,905 23,213 69,118
10,928 4,643 15,571
34,977 18,570 53,547
11,283 5,391 16,674
Finance: Personal services Operating Capital Total Finance
244,700 102,245 55,860 402,805
54,802 29,970 1,980 86,752
189,898 72,275 53,880 316,053
54,096 29,295 1,851 85,242
Legal Counsel: Personal services Operating Total Legal Counsel
12,740 170,335 183,075
4,130 21,771 25,901
8,610 148,564 157,174
3,862 17,651 21,513
119,232 45,552 1,000 165,784 1,057,733
77,478 77,478 265,759
41,754 45,552 1,000 88,306 791,974
81,819 81,819 256,438
394,050 70,267 4,700 469,017
94,607 44,373 138,980
299,443 25,894 4,700 330,037
95,349 45,412 140,761
Non-Departmental Personal services Operating Capital Other Expenses Total Non-Departmental Total General Government Public Safety: Administration: Personal services Operating Capital Total Administration
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Uniform Patrol: Personal services Operating Capital Total Uniform Patrol
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
2,174,640 165,337 6,757 2,346,734
509,592 31,561 15,896 557,049
1,665,048 133,776 (9,139) 1,789,685
Detectives: Personal services Operating Capital Total Detectives
235,240 26,552 76,750 338,542
56,647 1,961 58,608
178,593 24,591 76,750 279,934
-
Services: Personal services Operating Capital Total Police Services
239,580 146,259 385,839
59,370 60,207 119,577
180,210 86,052 266,262
107,285 32,356 5,432 145,073
Uniform Patrol (Hypoluxo): Personal services Operating Capital Total Uniform Patrol (Hypoluxo)
398,340 22,990 2,950 424,280
100,316 3,761 104,077
298,024 19,229 2,950 320,203
88,942 4,397 93,339
Marine Safety: Personal services Operating Capital Total Marine Safety
272,420 17,936 23,115 313,471
64,614 2,028 66,642
207,806 15,908 23,115 246,829
64,700 2,526 6,932 74,158
4,277,883
1,044,933
3,232,950
998,192
172,950 12,190 185,140
27,303 2,207 29,510
145,647 9,983 155,630
42,015 3,380 1,173 46,568
139,957 109,070 12,000 261,027
15,737 27,730 43,467
124,220 81,340 12,000 217,560
28,820 23,914 52,734
Total Public Safety Development Services: Administration : Personal services Operating Capital Total Administration Building Inspections: Personal services Operating Capital Total Building Inspections
497,722 36,993 10,146 544,861
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Code Enforcement: Personal services Operating Capital Total Code Enforcement
181,115 19,830 200,945
41,799 2,855 44,654
139,316 16,975 156,291
39,507 2,237 41,744
Total Development Services
647,112
117,631
529,481
141,046
Physical Environment: Public Works Administration Personal services Operating Capital Total Operations Administration
171,540 18,690 190,230
41,127 3,210 44,337
130,413 15,480 145,893
28,850 3,277 32,127
61,793 10,896 1,299 73,988
14,606 8,824 1,436 24,866
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
-
-
-
42,645 24,329 66,974
Trash Collection: Personal services Operating Capital Total Trash Collection
-
-
-
54,335 26,880 81,215
Recycling Collection: Personal services Operating Capital Total Recycling Collection
-
-
-
11,868 3,814 15,682
Streets & Sanitation: Personal services Operating Capital Total Streets & Sanitation
160,749 880,453 221,726 1,262,928
41,857 211,957 253,814
118,892 668,496 221,726 1,009,114
33,420 134,009 167,429
Total Physical Environment
1,527,146
323,017
1,204,129
384,098
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
47,187 2,072 (137) 49,122
15,368 1,842 3,461 20,671
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Cultural and Recreation: Sports Complex: Operating Debt service Total Sports Complex Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
9,260 122,200 131,460
1,472 60,979 62,451
7,788 61,221 69,009
1,238 60,979 62,217
Library: Personal services Operating Capital Total Library services
108,530 50,105 34,677 193,312
25,105 6,766 3,121 34,992
83,425 43,339 31,556 158,320
25,130 4,300 3,555 32,985
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
219,436 216,081 350,142 785,659
55,262 30,606 3,793 89,661
164,174 185,475 346,349 695,998
79,038 28,648 888 108,574
Facilities Maintenance: Personal services Operating Capital Total Building Maintenance
156,299 128,063 104,896 389,258
37,086 31,779 1,898 70,763
119,213 96,284 102,998 318,495
42,038 31,124 6,214 79,376
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
78,042 78,042 1,577,731
20,222 20,222 278,089
57,820 57,820 1,299,642
1,532 1,532 284,684
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
308,500 9,396,105
76,894 2,106,323
231,606 7,289,782
76,894 2,141,352
$
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) December 31, 2013 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 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
$
4,300 509,892 20,737,967 791,817 5,146 18,445 22,067,567 (13,143,593) 8,923,974
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
8,204,910 230,087 131,377 412,048 8,978,422
Prior Year
$
1,066,495 18,968,891
8,497,219 281,209 166,113 411,596 9,356,136 4,300 509,892 20,486,913 810,847 19,142 193,821 22,024,915 (12,513,800) 9,511,115
$
1,261,785 20,129,036
151,888 5,266,551
1,327,238 1,897,201 170,407
158,362 230,589 27,760 5,835,150
140,007 213,206 4,871,805 8,619,864
2,445,897 987,359 9,700,485 13,133,741
2,445,897 1,859,035 7,204,240 11,509,172
18,968,891
$
20,129,036
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended December 31, 2013
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
2,457,136 2,359,779 148,656 4,965,571
$
483,525 452,039 28,003 963,567
$
(1,973,611) (1,907,740) (120,653) (4,002,004)
Prior YTD Actual $
447,286 442,776 31,990 922,052
829,446 1,581,197 2,410,643
212,018 424,266 636,284
617,428 1,156,931 1,774,359
182,792 379,757 562,549
902,095
196,044
706,051
184,830
Debt Services Capital outlay
860,450 3,288,576 4,149,026
14,323 95,228 109,551
846,127 3,193,348 4,039,475
178,939 171,839 350,778
Total operating expenses
7,461,764
941,879
6,519,885
1,098,157
(2,496,193)
21,688
(10,521,889)
Administrative expenses
Operating income/(loss)
(176,105)
Non-operating revenues (expenses) Investment income Sale of assets Settlements-Lake Worth Operating Transfers Out Retained Earnings-capital carryforward
7,305 -
9,002
2,488,888
-
(2,488,888)
5,047 -
Total non-operating revenues (expenses)
2,496,193
9,002
(2,487,191)
5,047
-
30,690
Net income/(loss) Net assets, beginning Net assets, ending
13,103,051 $ 13,133,741
1,697 -
30,690
(171,058) 11,680,232 $ 11,509,172
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
42,805 32,854 75,659
Actual
$
12,780 9,102 21,882
Variance Favorable (Unfavorable)
$
30,025 23,752 53,777
Prior Year Actual
$
9,882 3,895 13,777
110,900 11,938 122,838
25,554 1,689 27,243
85,346 10,249 95,595
23,944 2,744 26,688
Town Clerk: Personal services Operating
30,875 15,532
7,292 3,095
23,583 12,437
7,520 3,592
Total Town Clerk
46,407
10,387
36,020
11,112
Finance Personal services Operating Capital Total Finance
399,510 167,974 30,000 597,484
82,287 41,832 2,820 126,939
317,223 126,142 27,180 470,545
82,402 35,479 2,349 120,230
3,250 39,570 42,820
1,033 5,622 6,655
2,217 33,948 36,165
971 9,477 10,448
16,887 16,887
2,938 2,938
13,949 13,949
2,575 2,575
902,095
196,044
706,051
184,830
Total executive
Legal: Personal services Operating Total Legal Non Departmental: Personal services Operating Capital Total Non Departmental Total Administrative
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended December 31, 2013
Budget Public Works/Utilities Utilities Administration Personal services Operating Capital Total Utilities Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations Total operations/utilities Debt Services Transfers Out Contingency TOTAL EXPENDITURES
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
140,728 64,694 205,422
35,561 18,574 54,135
105,167 46,120 151,287
32,392 3,886 36,278
61,793 12,195 73,988
14,605 1,339 15,944
47,188 10,856 58,044
15,366 1,948 17,314
449,795 555,921 926,865 1,932,581
121,299 100,629 57,340 279,268
328,496 455,292 869,525 1,653,313
98,255 94,555 10,582 203,392
177,130 948,387 2,361,711 3,487,228
40,553 303,724 37,888 382,165
136,577 644,663 2,323,823 3,105,063
36,779 279,368 161,257 477,404
5,699,219
731,512
4,967,707
734,388
860,450 -
14,323 -
846,127 -
178,939 -
6,519,885
$ 1,098,157
$ 7,461,764
$
941,879
$
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing December 31, 2013 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES FLORIDA PRIME AND FUND B October SBA Rate General Fund
November
0.18%
Beginning Bal.
177,465
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
December
0.17% 177,486 -
Total
0.16% 177,506 -
0.17% 177,465 -
21
20
19
61
177,486
177,506
177,526
177,526
184,108
184,130
184,151
184,108
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
-
-
-
-
22
21
20
63
184,130
184,151
184,171
184,171
6,840
6,841
6,842
6,840
-
-
-
-
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
1
1
2
6,841
6,842
6,843
6,843
27,442
27,445
27,448
27,442
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
3
3
3
9
27,445
27,448
27,451
27,451
4,023
4,024
4,024
4,023
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
0
0
1
4,024
4,024
4,024
4,024
October
November
December
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
16,806
16,808
16,810
16,806
-
-
-
-
2
2
2
6
16,808
16,810
16,812
16,812
50
47
46
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
50
47
46
143 143
23 27 50
22 25 47
21 24 46
67 76 143
-
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)
0.40% 0.07% 433 451 3 (564)
0.40% 0.07% 412 459 3 (732)
0.40% 0.07% 443 308 3 (368)
323
143
385
Operating Demand Deposit Water Plant Reserve
15,122,983 2,000,000 373,703
13,480,513 4,000,000 373,733
10,948,425 4,000,000 373,762
Ending Balances
17,496,685
17,854,246
15,322,188
Investment Earnings
0.40% 0.07% 1,289 1,218 8 (1,664) 851
Ending Account Balances per Statement
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Ending Balance
0.20% 22
0.20% 26
129,447
0.20% 261 182 4,872,525
213,278
0.20% 309 182
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Forfeiture Fund $
457 499 3 959
$
434 511 3 948
$
646 594 3 1,243
$
1,537 1,604 8 3,149
