June 30, 2010 AWS
MEMORANDUM Finance Department 3. Net income for the period is $329,680, compared to a net income of $286,413 last year. However, depreciation expense is not calculated and applied to the financial statements until after the fiscal year has ended. This expense may drastically alter net income for the fund.
TRANSPORTATION FUND 1. Total gas tax revenue for the period is down $1,148 compared to the same period last year. However, when all revenues (except transfer in) are considered, the total increased by $38,172, which is due to the revenue received for the North Broadway Improvement interlocal agreement with Palm Beach County. 2. Operating expenditures have increased by $11,814 or 12.5% primarily due to increased repairs to sidewalks and the emergency repair work to East Ocean Avenue on the east side of the bridge which occurred in the beginning of FY10. When including capital and debt, the total expenditures increased by $108,591, or 32.8%, all of which are capital outlay expenditures. 3. Revenues exceeded expenditures for the period by $6,147 compared to $171,156 last year.
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At June 30th, the Town’s funds were in Florida Prime and SunTrust, with the majority in SunTrust. Florida Prime is the investment pool that was previously known as the State Board of Administration’s Local Governmental Investment Pool. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, SunTrust continues to possess a three-star rating from BauerFinancial which indicates the bank is adequate. Most liquid funds from the Florida Prime (Pool A) except for a small amount of interest income have been withdrawn from the fund. Pool B funds, which remain illiquid, cannot be withdrawn.
-2-
MEMORANDUM Finance Department OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following: 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BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) As stated earlier, the majority of Pool A has been withdrawn, and by the end of the quarter, we had $97,797 in the pool which is liquid and available for withdrawal. In Pool B, the Town’s balance was $317,222 which is not liquid and is not available for withdrawal. While the total unrealized loss is $103,563 for all accounts, nothing has been realized (sold for a loss). This loss has actually decreased by $72,281 from the beginning of the fiscal year. I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
BUDGET-IN-BRIEF as of June 30, 2010 (75% of year elapsed) YTD-Townwide Expense Allocation
Debt Capital 861,303 1,223,132 8% 12%
Wages 1,268,506 33%
Other Town Funds
Interfund Transfers 315,410 3%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,244,169 948,507 6,192,676 6,192,676
Year-to-Date 3,699,935 3,699,935 3,370,255
% 70.6% 0.0% 59.7% 54.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 640,051 557,558 1,197,609 1,197,609
Year-to-Date 445,535 445,535 439,388
% 69.6% 0.0% 37.2% 36.7%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 6,010 53,990 60,000 60,000
Year-to-Date 7,596 7,596 60,000
% 126.4% 0.0% 12.7% 100.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,600 4,600 4,600
Year-to-Date 3,006 3,006 2,464
% 65.3% N/A 65.3% 53.6%
% 77.9% 66.1% 68.9% 69.8% 19.3% 69.0%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 136 12,227
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 474,255 474,255
Year-to-Date 135,648 135,648
% 28.6% N/A 28.6%
Total Expenses
474,255
148,183
31.2%
Budget 454,270 454,270 454,270
Year-to-Date 340,703 340,703 351,595
% 75.0% N/A 75.0% 77.4%
Benefits 1,882,837 18%
Operating & Maintenance
974,220 26% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,785,340 3,771,123 Licenses & Permits 353,350 322,569 Intergovernmental Revenue 1,128,800 638,164 Charges for Services 1,475,470 1,223,233 Fines & Forfeitures 89,000 64,491 Misc. Revenue 389,533 299,250 Interfund Transfers 60,000 60,000 Debt Proceeds 250,000 Appropriations & Carryover 1,152,912 Total Revenues $ 9,684,405 $ 6,378,830
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 86,920 67,720 195,490 129,283 328,700 226,455 134,671 93,982 33,100 6,399 3,839,378 2,649,124
Development Services
% 78.8% 91.3% 56.5% 82.9% 72.5% 76.8% 100.0% 0.0% 0.0% 65.9%
619,731
435,184
70.2%
2,202,239 157,313 42,500 1,549,153 194,200 255,410 45,600 9,684,405
1,514,073 105,997 7,519 360,179 121,957 255,410 $ 5,973,282
68.8% 67.4% 17.7% 23.3% 62.8% 100.0% 0.0% 61.7%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,067,815 10,345,167
% 57.3%
Operations Department Library Holiday Events Capital Outlay Debt Service Interfund Transfers Out General Contingency Total Expenditures
$
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
(not including Police Forfeiture Fund)
-4-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) June 30, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
-5-
$
9,669,369 267,736 37,699 11,813 273,410 15,642 10,275,669
Prior Year
$
$
9,605,609 96,696 (29,988) 11,417 272,357 64,368 10,020,459
199,352 16,308
252,512 18,762
63,010 278,670
82,894 354,168
405,868 -
141,027 -
9,591,131 9,996,999 10,275,669
9,525,264 9,666,291 10,020,459
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended June 30, 2010
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
Prior Year Actual
Budget
Actual
$ 4,785,340 353,350 1,128,800 1,475,470 89,000 389,533 510,000 8,731,493
$ 3,771,123 322,569 638,163 1,223,234 64,491 299,251 6,318,831
778,881 3,839,378 619,731 915,620 1,486,432 1,549,153
523,841 2,649,124 435,184 637,895 989,692 360,179
255,040 1,190,254 184,547 277,725 496,740 1,188,974
564,707 2,808,048 436,821 551,460 1,120,899 2,020,598
194,200 45,600 9,428,995
121,957 5,717,872
72,243 45,600 3,711,123
121,957 7,624,490
1,298,461
Deficiency of revenues under expenditures
(697,502)
600,959
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
60,000 (255,410) 642,912 250,000 697,502
60,000 (255,410) (195,410)
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
Fund balance, beginning of year
405,549 9,591,450 $ 9,996,999
FUND BALANCE, END OF PERIOD
-6-
$ (1,014,217) (30,781) (490,637) (252,236) (24,509) (90,282) (1,902,662)
(642,912) (250,000) (892,912)
$ 4,238,515 302,685 603,777 1,116,857 216,674 271,462 6,749,970
(874,520) 20,900 (350,000) (329,100) (1,203,620) 10,869,911 $ 9,666,291
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget
Actual
$ 2,690,500 761,000 912,500 421,340 4,785,340
$ 2,531,915 366,953 637,859 234,396 3,771,123
230,050 123,300 353,350
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (158,585) (394,047) (274,641) (186,944) (1,014,217)
$ 2,938,238 415,858 597,098 287,321 4,238,515
224,263 98,306 322,569
(5,787) (24,994) (30,781)
210,470 92,215 302,685
110,000 280,000 18,000 9,500 585,000 126,300 1,128,800
189,716 20,273 9,687 367,663 50,824 638,163
(110,000) (90,284) 2,273 187 (217,337) (75,476) (490,637)
194,278 22,632 8,606 372,878 5,383 603,777
740,000 98,000 590,590 46,880 1,475,470
543,018 74,064 570,901 35,251 1,223,234
(196,982) (23,936) (19,689) (11,629) 252,236
491,476 66,712 523,504 35,165 1,116,857
89,000
64,491
(24,509)
216,674
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
86,000 202,500 75,903 14,950 10,180 389,533
51,570 150,871 2,300 65,694 14,954 13,862 299,251
(34,430) (51,629) 2,300 (10,209) 4 3,682 (90,282)
35,843 126,222 7,750 64,719 14,954 21,974 271,462
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
60,000 642,912 510,000 250,000 1,462,912 $ 9,684,405
60,000 60,000 $ 6,378,831
(642,912) (510,000) (250,000) (1,402,912) $ (3,305,574)
20,900 20,900 $ 6,770,870
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
-7-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,020 6,900 86,920
$
63,119 4,602 67,721
Variance Favorable (Unfavorable)
$
16,901 2,298 19,199
Prior Year Actual
$
60,365 5,671 66,036
Executive: Personal services Operating Capital Total Executive
111,470 19,820 80,998 212,288
79,294 10,128 26,257 115,679
32,176 9,692 54,741 96,609
81,364 15,605 7,927 104,896
Town Clerk: Personal services Operating Capital Total Town Clerk
46,770 17,430 64,200
32,756 7,105 39,861
14,014 10,325 24,339
34,799 8,418 43,217
Financial Administration: Personal services Operating Capital Total Financial Administration
235,740 92,960 15,660 344,360
157,765 68,690 13,742 240,197
77,975 24,270 1,918 104,163
172,838 69,131 12,799 254,768
Legal Counsel: Personal services Operating Total Legal Counsel
12,420 122,251 134,671
10,150 83,833 93,983
2,270 38,418 40,688
9,968 85,966 95,934
5,000 28,100 33,100 875,539
6,399 6,399 563,840
5,000 21,701 26,701 311,699
20,582 20,582 585,433
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
262,880 78,570 341,450
189,785 62,021 251,806
73,095 16,549 89,644
240,252 55,665 295,917
2,249,640 191,098 133,495 2,574,233
1,530,348 116,284 29,528 1,676,160
719,292 74,814 103,967 898,073
1,631,444 122,719 265,114 2,019,277
Services: Personal services Operating Capital Total Police Services
580,970 127,230 708,200
410,537 83,240 493,777
170,433 43,990 214,423
419,367 91,422 9,281 520,070
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
331,110 17,880 348,990
245,407 11,502 256,909
85,703 6,378 92,081
233,637 13,542 31,605 278,784
3,972,873
2,678,652
1,294,221
3,114,048
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
174,450 15,950 227,809 418,209
125,333 7,038 40,673 173,044
49,117 8,912 187,136 245,165
114,055 8,349 122,404
117,230 129,556 246,786
84,078 93,739 177,817
33,152 35,817 68,969
85,150 102,066 187,216
161,810 20,735 182,545
112,164 12,832 124,996
49,646 7,903 57,549
115,137 12,064 127,201
Total Development Services
847,540
475,857
371,683
436,821
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
119,490 19,735 139,225
83,488 13,232 96,720
36,002 6,503 42,505
21,783 7,040 28,823
70,030 15,545 85,575
50,704 10,851 61,555
19,326 4,694 24,020
50,370 12,939 3,570 66,879
Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
208,100 100,200 200,000 508,300
154,787 45,274 200,061
53,313 54,926 200,000 308,239
146,661 47,120 193,781
223,750 100,490 324,240
167,563 58,432 225,995
56,187 42,058 98,245
173,414 45,689 219,103
43,450 14,830 58,280
40,689 12,875 53,564
2,761 1,955 4,716
35,664 10,780 46,444
1,115,620
637,895
477,725
555,030
41,230 65,951 122,500 229,681
20,697 40,961 121,957 183,615
20,533 24,990 543 46,066
30,818 34,052 121,957 186,827
Library: Personal services Operating Capital Total library Services
106,030 51,283 15,000 172,313
74,107 31,890 14,142 120,139
31,923 19,393 858 52,174
76,669 30,352 18,786 125,807
Marine Services: Personal services Operating Capital Total Marine Services
286,880 17,752 304,632
217,287 9,275 226,562
69,593 8,477 78,070
216,156 11,431 227,587
298,180 200,577 690,000 1,188,757
226,905 116,298 209,251 552,454
71,275 84,279 480,749 636,303
281,291 128,266 1,629,965 2,039,522
Trash Collection: Personal services Operating Capital Total Trash Collection 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
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
- 11 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
207,280 168,769 186,191 562,240
142,418 102,338 26,586 271,342
64,862 66,431 159,605 290,898
185,510 114,438 41,551 341,499
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
42,500 42,500 2,500,123
7,516 7,516 1,361,628
34,984 34,984 1,138,495
11,916 11,916 2,933,158
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
71,700 255,410 45,600 9,684,405
255,410 $ 5,973,282
71,700 45,600 3,711,123
350,000 7,974,490
$
- 12 -
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) June 30, 2010 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
- 13 -
$
6,987,704 297,409 118,513 409,769 7,813,395
Prior Year
$
6,483,648 285,356 134,071 408,606 7,311,681
4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
1,599,203 20,039,235
1,766,177 20,019,409
$
661,556 2,685,367 361,881
408,647 2,927,389 354,798
131,334 172,536 6,060,000 10,072,674
141,303 159,650 6,430,000 10,421,787
2,445,897 2,013,669 5,506,995 9,966,561
2,445,897 2,419,703 4,732,022 9,597,622
20,039,235
$
20,019,409
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,433,435 2,447,070 330,664 5,211,169
$
1,657,388 1,686,411 304,962 3,648,761
Variance Favorable (Unfavorable) $
(776,047) (760,659) (25,702) (1,562,408)
Prior YTD Actual $
770,105 1,764,575 2,534,680
563,936 1,027,915 1,591,851
824,661
542,598
282,063
579,602
Debt Services Capital outlay
1,045,100 1,788,235 2,833,335
508,662 727,144 1,235,806
536,438 1,061,091 1,597,529
509,925 352,583 862,508
Total operating expenses
6,192,676
3,370,255
2,822,421
3,105,184
Administrative expenses
Operating income/(loss)
206,169 736,660 942,829
1,627,539 1,663,493 136,181 3,427,213
585,836 1,077,238 1,663,074
(981,507)
278,506
(4,384,829)
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
33,000 948,507
51,174 -
18,174 (948,507)
(35,616) -
Total non-operating revenues (expenses)
981,507
51,174
(930,333)
(35,616)
-
329,680
329,680
286,413
Net income/(loss) Net assets, beginning Net assets, ending
$
- 14 -
9,636,881 9,966,561
322,029
$
9,311,209 9,597,622
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,360 4,800 58,160
$
42,089 3,071 45,160
Variance Favorable (Unfavorable)
$
11,271 1,729 13,000
$
40,254 3,762 44,016
111,470 19,820 131,290
79,291 10,168 89,459
41,831
81,686 15,559 97,245
Town Clerk: Personal services Operating
31,190 11,780
21,841 4,874
9,349 6,906
23,034 5,877
Total Town Clerk
42,970
26,715
16,255
28,911
400,510 141,275 3,000 544,785
262,985 94,930 357,915
137,525 46,345 3,000 186,870
281,895 99,559 1,999 383,453
3,220 27,336 30,556
2,586 17,236 19,822
634 10,100 10,734
2,541 16,344 18,885
5,000 11,900 16,900
3,527 3,527
5,000 8,373 13,373
7,092 7,092
824,661
542,598
282,063
579,602
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
- 15 -
32,179 9,652 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Operations Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
124,565 17,430 3,800 145,795
86,781 8,817 3,350 98,948
37,784 8,613 450 46,847
94,065 6,841 100,906
70,030 15,395 85,425
50,501 6,845 57,346
19,529 8,550 28,079
50,165 7,998 58,163
379,750 506,515 1,320,278 2,206,543
286,427 336,339 588,939 1,211,705
93,323 170,176 731,339 994,838
290,986 334,462 190,808 816,256
195,760 1,225,235 464,157 1,885,152
140,227 675,914 134,855 950,996
55,533 549,321 329,302 934,156
150,620 727,937 161,775 1,040,332
Total operations
4,322,915
2,318,995
2,003,920
2,015,657
Debt Services Contingency
1,045,100 -
508,662 -
536,438 -
509,925 -
$ 6,192,676
$ 3,370,255
2,822,421
$ 3,105,184
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 16 -
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) June 30, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
906,710 25,358 932,068
Prior Year
$
1,024,491 24,453 1,048,944
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
380 380
180 180
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
931,688 931,688
1,048,764 1,048,764
Total Liabilities and Equity
$
- 17 -
932,068
$
1,048,944
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended June 30, 2010
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax PBC Interlocal Agreement Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
251,000 132,641 1,000 115,000 442,558 255,410
$
152,734 32,932 4,459 255,410
$
(98,266) (99,709) 3,459 -
$
153,882 (1,929) 350,000
1,197,609
445,535
(194,516)
501,953
150,460 5,600 2,550 300 152,000 2,000 1,000 313,910
70,890 907 180 31,818 1,227 956 105,978
79,570 5,600 1,643 120 120,182 773 44 207,932
5,182 74,761 1,975 939 180 9,216 1,446 465 94,164
575,199 308,500 883,699
102,727 230,683 333,410
472,472 77,817 550,289
5,950 230,683 236,633
-
-
-
-
1,197,609
439,388
966,153
330,797
-
6,147
6,147
171,156
925,541
925,541
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
$
- 18 -
931,688
877,608 $
1,048,764
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing June 30, 2010 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
January
February
March
April
May
June
Total
0.30%
0.28%
0.21%
0.17%
0.20%
0.20%
0.23%
0.27%
0.34%
0.24%
176,709
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
176,711 -
(1) 3
176,714 -
(1) 3
(1) 3
176,716 -
176,720 -
176,724 -
176,730 -
176,736 -
176,745 -
176,709 -
4
5
5
7
9
11
(3) 50
176,711
176,714
176,716
176,720
176,724
176,730
176,736
176,745
176,756
176,756
183,324
183,326
183,329
183,331
183,335
183,340
183,345
183,352
183,361
183,324
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
(1) 3
(1) 4
(1) 3
-
-
-
-
-
-
-
4
5
6
7
9
12
(3) 52
183,326
183,329
183,331
183,335
183,340
183,345
183,352
183,361
183,373
183,373
6,814
6,813
6,812
6,811
6,812
6,812
6,812
6,812
6,813
6,814
-
-
-
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0
(1) 0
(1) 0
0
0
0
0
0
0
(3) 2
6,813
6,812
6,811
6,812
6,812
6,812
6,812
6,813
6,813
6,813
27,328
27,327
27,327
27,326
27,327
27,328
27,329
27,330
27,331
27,328
-
-
-
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 1
(1) 1
(1) 0
1
1
1
1
1
2
(3) 8
27,327
27,327
27,326
27,327
27,328
27,329
27,330
27,331
27,333
27,333
4,009
4,008
4,007
4,006
4,006
4,006
4,006
4,006
4,007
4,009
-
-
-
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges
(1)
(1)
(1)
- 19 -
(3)
October
November
Investment Earnings Ending Bal.
December
January
February
March
April
May
June
Total
0
0
0
0
0
0
0
0
0
1
4,008
4,007
4,006
4,006
4,006
4,006
4,006
4,007
4,007
4,007
16,737
16,736
16,736
16,735
16,735
16,736
16,736
16,737
16,738
16,737
-
-
-
-
-
-
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0 16,736
(1) 0 16,736
(1) 0 16,735
(3) 5
0
0
1
1
1
1
16,735
16,736
16,736
16,737
16,738
16,739
13
20 20
26.73 27
118 (18) 100
9 11 1 20
11.38 14.27 1.08 27
47 51 2 100
16,739
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
8 (6) 2
8 (6) 2
7 (6) 1
2 0 (1) 2
2 0 (1) 2
2 (0) (1) 1
9 9
11
13
15 15
4 5 0 9
5 6 0 11
5 7 1 13
7 8 1 15
-
11 -
-
Sterling Bank MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
0.00% 9,736
0.00% -
0.00% -
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00% 9,736
(9,736) -
-
-
-
-
-
-
-
-
(9,736) -
-
-
-
-
-
-
-
-
-
-
0
0
0
0
0
0
0
0
0
0
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges Investment Earnings
0.350% 2,991 2,073 280 37 25 (1,483)
0.350% 2,783 2,026 258 36 24 (787)
0.340% 2,889 1,754 207 31 20 (804)
0.250% 2,182 1,353 154 24 15 0
0.250% 1,930 1,278 120 22 13 (11)
0.250% 2,075 1,462 188 25 14 (302)
0.230% 1,859 1,305 172 12 13 (276)
0.220% 1,759 1,303 163 11 12 (307)
0.220% 1,665 1,297 156 11 11
0.27% 20,133 13,852 1,698
3,924
4,340
4,097
3,728
3,351
3,463
3,084
2,941
3,141
31,860
- 20 -
147 (3,970)
October
November
December
January
February
March
April
May
June
Total
Checking Account Ending Balances per Statement Operating Water Plant Reserve
17,763,745 371,007
17,547,666 371,099
19,091,186 371,224
19,074,879 371,313
19,383,886 371,384
19,459,777 371,463
19,090,573 371,463
19,072,256 371,619
19,001,187 371,695
Ending Balances
18,134,752
17,918,765
19,462,410
19,446,193
19,755,270
19,831,240
19,462,036
19,443,875
19,372,882
1,866 1,313 172.34 12 13 3,375
1,768 1,313 163.69 11 12 3,268
1,676.03 1,311.61 157.53 11 11 3,168
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
2,993 2,074 280 37 25 5,409
$
2,785 2,027 257 36 24 5,129
$
2,891 1,753 206 31 20 4,902
$
2,186 1,358 154 24 15 3,738
- 21 -
$
1,935 1,284 120 22 13 3,374
$
2,081 1,469 189 25 14 3,778
$
$
$
$
20,180 13,903 1,700 208 147 36,139
Investment Income 3,000 2,500 2,000 1,500 1,000 500 0 Oct
Nov
Dec
General Fund
Jan
Feb
Utility Fund
- 22 -
Mar
Apr
May
Transportation Fund
Jun
TRANSPORTATION FUND 1. Total gas tax revenue for the period is down $1,148 compared to the same period last year. However, when all revenues (except transfer in) are considered, the total increased by $38,172, which is due to the revenue received for the North Broadway Improvement interlocal agreement with Palm Beach County. 2. Operating expenditures have increased by $11,814 or 12.5% primarily due to increased repairs to sidewalks and the emergency repair work to East Ocean Avenue on the east side of the bridge which occurred in the beginning of FY10. When including capital and debt, the total expenditures increased by $108,591, or 32.8%, all of which are capital outlay expenditures. 3. Revenues exceeded expenditures for the period by $6,147 compared to $171,156 last year.
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At June 30th, the Town’s funds were in Florida Prime and SunTrust, with the majority in SunTrust. Florida Prime is the investment pool that was previously known as the State Board of Administration’s Local Governmental Investment Pool. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, SunTrust continues to possess a three-star rating from BauerFinancial which indicates the bank is adequate. Most liquid funds from the Florida Prime (Pool A) except for a small amount of interest income have been withdrawn from the fund. Pool B funds, which remain illiquid, cannot be withdrawn.
-2-
MEMORANDUM Finance Department OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following: 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) As stated earlier, the majority of Pool A has been withdrawn, and by the end of the quarter, we had $97,797 in the pool which is liquid and available for withdrawal. In Pool B, the Town’s balance was $317,222 which is not liquid and is not available for withdrawal. While the total unrealized loss is $103,563 for all accounts, nothing has been realized (sold for a loss). This loss has actually decreased by $72,281 from the beginning of the fiscal year. I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
BUDGET-IN-BRIEF as of June 30, 2010 (75% of year elapsed) YTD-Townwide Expense Allocation
Debt Capital 861,303 1,223,132 8% 12%
Wages 1,268,506 33%
Other Town Funds
Interfund Transfers 315,410 3%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,244,169 948,507 6,192,676 6,192,676
Year-to-Date 3,699,935 3,699,935 3,370,255
% 70.6% 0.0% 59.7% 54.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 640,051 557,558 1,197,609 1,197,609
Year-to-Date 445,535 445,535 439,388
% 69.6% 0.0% 37.2% 36.7%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 6,010 53,990 60,000 60,000
Year-to-Date 7,596 7,596 60,000
% 126.4% 0.0% 12.7% 100.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,600 4,600 4,600
Year-to-Date 3,006 3,006 2,464
% 65.3% N/A 65.3% 53.6%
% 77.9% 66.1% 68.9% 69.8% 19.3% 69.0%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 136 12,227
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 474,255 474,255
Year-to-Date 135,648 135,648
% 28.6% N/A 28.6%
Total Expenses
474,255
148,183
31.2%
Budget 454,270 454,270 454,270
Year-to-Date 340,703 340,703 351,595
% 75.0% N/A 75.0% 77.4%
Benefits 1,882,837 18%
Operating & Maintenance
974,220 26% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,785,340 3,771,123 Licenses & Permits 353,350 322,569 Intergovernmental Revenue 1,128,800 638,164 Charges for Services 1,475,470 1,223,233 Fines & Forfeitures 89,000 64,491 Misc. Revenue 389,533 299,250 Interfund Transfers 60,000 60,000 Debt Proceeds 250,000 Appropriations & Carryover 1,152,912 Total Revenues $ 9,684,405 $ 6,378,830
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 86,920 67,720 195,490 129,283 328,700 226,455 134,671 93,982 33,100 6,399 3,839,378 2,649,124
Development Services
% 78.8% 91.3% 56.5% 82.9% 72.5% 76.8% 100.0% 0.0% 0.0% 65.9%
619,731
435,184
70.2%
2,202,239 157,313 42,500 1,549,153 194,200 255,410 45,600 9,684,405
1,514,073 105,997 7,519 360,179 121,957 255,410 $ 5,973,282
68.8% 67.4% 17.7% 23.3% 62.8% 100.0% 0.0% 61.7%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,067,815 10,345,167
% 57.3%
Operations Department Library Holiday Events Capital Outlay Debt Service Interfund Transfers Out General Contingency Total Expenditures
$
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
(not including Police Forfeiture Fund)
-4-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) June 30, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
-5-
$
9,669,369 267,736 37,699 11,813 273,410 15,642 10,275,669
Prior Year
$
$
9,605,609 96,696 (29,988) 11,417 272,357 64,368 10,020,459
199,352 16,308
252,512 18,762
63,010 278,670
82,894 354,168
405,868 -
141,027 -
9,591,131 9,996,999 10,275,669
9,525,264 9,666,291 10,020,459
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended June 30, 2010
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
Prior Year Actual
Budget
Actual
$ 4,785,340 353,350 1,128,800 1,475,470 89,000 389,533 510,000 8,731,493
$ 3,771,123 322,569 638,163 1,223,234 64,491 299,251 6,318,831
778,881 3,839,378 619,731 915,620 1,486,432 1,549,153
523,841 2,649,124 435,184 637,895 989,692 360,179
255,040 1,190,254 184,547 277,725 496,740 1,188,974
564,707 2,808,048 436,821 551,460 1,120,899 2,020,598
194,200 45,600 9,428,995
121,957 5,717,872
72,243 45,600 3,711,123
121,957 7,624,490
1,298,461
Deficiency of revenues under expenditures
(697,502)
600,959
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
60,000 (255,410) 642,912 250,000 697,502
60,000 (255,410) (195,410)
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
Fund balance, beginning of year
405,549 9,591,450 $ 9,996,999
FUND BALANCE, END OF PERIOD
-6-
$ (1,014,217) (30,781) (490,637) (252,236) (24,509) (90,282) (1,902,662)
(642,912) (250,000) (892,912)
$ 4,238,515 302,685 603,777 1,116,857 216,674 271,462 6,749,970
(874,520) 20,900 (350,000) (329,100) (1,203,620) 10,869,911 $ 9,666,291
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget
Actual
$ 2,690,500 761,000 912,500 421,340 4,785,340
$ 2,531,915 366,953 637,859 234,396 3,771,123
230,050 123,300 353,350
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (158,585) (394,047) (274,641) (186,944) (1,014,217)
$ 2,938,238 415,858 597,098 287,321 4,238,515
224,263 98,306 322,569
(5,787) (24,994) (30,781)
210,470 92,215 302,685
110,000 280,000 18,000 9,500 585,000 126,300 1,128,800
189,716 20,273 9,687 367,663 50,824 638,163
(110,000) (90,284) 2,273 187 (217,337) (75,476) (490,637)
194,278 22,632 8,606 372,878 5,383 603,777
740,000 98,000 590,590 46,880 1,475,470
543,018 74,064 570,901 35,251 1,223,234
(196,982) (23,936) (19,689) (11,629) 252,236
491,476 66,712 523,504 35,165 1,116,857
89,000
64,491
(24,509)
216,674
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
86,000 202,500 75,903 14,950 10,180 389,533
51,570 150,871 2,300 65,694 14,954 13,862 299,251
(34,430) (51,629) 2,300 (10,209) 4 3,682 (90,282)
35,843 126,222 7,750 64,719 14,954 21,974 271,462
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
60,000 642,912 510,000 250,000 1,462,912 $ 9,684,405
60,000 60,000 $ 6,378,831
(642,912) (510,000) (250,000) (1,402,912) $ (3,305,574)
20,900 20,900 $ 6,770,870
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
-7-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,020 6,900 86,920
$
63,119 4,602 67,721
Variance Favorable (Unfavorable)
$
16,901 2,298 19,199
Prior Year Actual
$
60,365 5,671 66,036
Executive: Personal services Operating Capital Total Executive
111,470 19,820 80,998 212,288
79,294 10,128 26,257 115,679
32,176 9,692 54,741 96,609
81,364 15,605 7,927 104,896
Town Clerk: Personal services Operating Capital Total Town Clerk
46,770 17,430 64,200
32,756 7,105 39,861
14,014 10,325 24,339
34,799 8,418 43,217
Financial Administration: Personal services Operating Capital Total Financial Administration
235,740 92,960 15,660 344,360
157,765 68,690 13,742 240,197
77,975 24,270 1,918 104,163
172,838 69,131 12,799 254,768
Legal Counsel: Personal services Operating Total Legal Counsel
12,420 122,251 134,671
10,150 83,833 93,983
2,270 38,418 40,688
9,968 85,966 95,934
5,000 28,100 33,100 875,539
6,399 6,399 563,840
5,000 21,701 26,701 311,699
20,582 20,582 585,433
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
262,880 78,570 341,450
189,785 62,021 251,806
73,095 16,549 89,644
240,252 55,665 295,917
2,249,640 191,098 133,495 2,574,233
1,530,348 116,284 29,528 1,676,160
719,292 74,814 103,967 898,073
1,631,444 122,719 265,114 2,019,277
Services: Personal services Operating Capital Total Police Services
580,970 127,230 708,200
410,537 83,240 493,777
170,433 43,990 214,423
419,367 91,422 9,281 520,070
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
331,110 17,880 348,990
245,407 11,502 256,909
85,703 6,378 92,081
233,637 13,542 31,605 278,784
3,972,873
2,678,652
1,294,221
3,114,048
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
174,450 15,950 227,809 418,209
125,333 7,038 40,673 173,044
49,117 8,912 187,136 245,165
114,055 8,349 122,404
117,230 129,556 246,786
84,078 93,739 177,817
33,152 35,817 68,969
85,150 102,066 187,216
161,810 20,735 182,545
112,164 12,832 124,996
49,646 7,903 57,549
115,137 12,064 127,201
Total Development Services
847,540
475,857
371,683
436,821
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
119,490 19,735 139,225
83,488 13,232 96,720
36,002 6,503 42,505
21,783 7,040 28,823
70,030 15,545 85,575
50,704 10,851 61,555
19,326 4,694 24,020
50,370 12,939 3,570 66,879
Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
208,100 100,200 200,000 508,300
154,787 45,274 200,061
53,313 54,926 200,000 308,239
146,661 47,120 193,781
223,750 100,490 324,240
167,563 58,432 225,995
56,187 42,058 98,245
173,414 45,689 219,103
43,450 14,830 58,280
40,689 12,875 53,564
2,761 1,955 4,716
35,664 10,780 46,444
1,115,620
637,895
477,725
555,030
41,230 65,951 122,500 229,681
20,697 40,961 121,957 183,615
20,533 24,990 543 46,066
30,818 34,052 121,957 186,827
Library: Personal services Operating Capital Total library Services
106,030 51,283 15,000 172,313
74,107 31,890 14,142 120,139
31,923 19,393 858 52,174
76,669 30,352 18,786 125,807
Marine Services: Personal services Operating Capital Total Marine Services
286,880 17,752 304,632
217,287 9,275 226,562
69,593 8,477 78,070
216,156 11,431 227,587
298,180 200,577 690,000 1,188,757
226,905 116,298 209,251 552,454
71,275 84,279 480,749 636,303
281,291 128,266 1,629,965 2,039,522
Trash Collection: Personal services Operating Capital Total Trash Collection 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
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
- 11 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
207,280 168,769 186,191 562,240
142,418 102,338 26,586 271,342
64,862 66,431 159,605 290,898
185,510 114,438 41,551 341,499
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
42,500 42,500 2,500,123
7,516 7,516 1,361,628
34,984 34,984 1,138,495
11,916 11,916 2,933,158
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
71,700 255,410 45,600 9,684,405
255,410 $ 5,973,282
71,700 45,600 3,711,123
350,000 7,974,490
$
- 12 -
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) June 30, 2010 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
- 13 -
$
6,987,704 297,409 118,513 409,769 7,813,395
Prior Year
$
6,483,648 285,356 134,071 408,606 7,311,681
4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
1,599,203 20,039,235
1,766,177 20,019,409
$
661,556 2,685,367 361,881
408,647 2,927,389 354,798
131,334 172,536 6,060,000 10,072,674
141,303 159,650 6,430,000 10,421,787
2,445,897 2,013,669 5,506,995 9,966,561
2,445,897 2,419,703 4,732,022 9,597,622
20,039,235
$
20,019,409
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,433,435 2,447,070 330,664 5,211,169
$
1,657,388 1,686,411 304,962 3,648,761
Variance Favorable (Unfavorable) $
(776,047) (760,659) (25,702) (1,562,408)
Prior YTD Actual $
770,105 1,764,575 2,534,680
563,936 1,027,915 1,591,851
824,661
542,598
282,063
579,602
Debt Services Capital outlay
1,045,100 1,788,235 2,833,335
508,662 727,144 1,235,806
536,438 1,061,091 1,597,529
509,925 352,583 862,508
Total operating expenses
6,192,676
3,370,255
2,822,421
3,105,184
Administrative expenses
Operating income/(loss)
206,169 736,660 942,829
1,627,539 1,663,493 136,181 3,427,213
585,836 1,077,238 1,663,074
(981,507)
278,506
(4,384,829)
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
33,000 948,507
51,174 -
18,174 (948,507)
(35,616) -
Total non-operating revenues (expenses)
981,507
51,174
(930,333)
(35,616)
-
329,680
329,680
286,413
Net income/(loss) Net assets, beginning Net assets, ending
$
- 14 -
9,636,881 9,966,561
322,029
$
9,311,209 9,597,622
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,360 4,800 58,160
$
42,089 3,071 45,160
Variance Favorable (Unfavorable)
$
11,271 1,729 13,000
$
40,254 3,762 44,016
111,470 19,820 131,290
79,291 10,168 89,459
41,831
81,686 15,559 97,245
Town Clerk: Personal services Operating
31,190 11,780
21,841 4,874
9,349 6,906
23,034 5,877
Total Town Clerk
42,970
26,715
16,255
28,911
400,510 141,275 3,000 544,785
262,985 94,930 357,915
137,525 46,345 3,000 186,870
281,895 99,559 1,999 383,453
3,220 27,336 30,556
2,586 17,236 19,822
634 10,100 10,734
2,541 16,344 18,885
5,000 11,900 16,900
3,527 3,527
5,000 8,373 13,373
7,092 7,092
824,661
542,598
282,063
579,602
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
- 15 -
32,179 9,652 -
Prior Year Actual
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended June 30, 2010
Budget Operations Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
124,565 17,430 3,800 145,795
86,781 8,817 3,350 98,948
37,784 8,613 450 46,847
94,065 6,841 100,906
70,030 15,395 85,425
50,501 6,845 57,346
19,529 8,550 28,079
50,165 7,998 58,163
379,750 506,515 1,320,278 2,206,543
286,427 336,339 588,939 1,211,705
93,323 170,176 731,339 994,838
290,986 334,462 190,808 816,256
195,760 1,225,235 464,157 1,885,152
140,227 675,914 134,855 950,996
55,533 549,321 329,302 934,156
150,620 727,937 161,775 1,040,332
Total operations
4,322,915
2,318,995
2,003,920
2,015,657
Debt Services Contingency
1,045,100 -
508,662 -
536,438 -
509,925 -
$ 6,192,676
$ 3,370,255
2,822,421
$ 3,105,184
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 16 -
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) June 30, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
906,710 25,358 932,068
Prior Year
$
1,024,491 24,453 1,048,944
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
380 380
180 180
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
931,688 931,688
1,048,764 1,048,764
Total Liabilities and Equity
$
- 17 -
932,068
$
1,048,944
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended June 30, 2010
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax PBC Interlocal Agreement Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
251,000 132,641 1,000 115,000 442,558 255,410
$
152,734 32,932 4,459 255,410
$
(98,266) (99,709) 3,459 -
$
153,882 (1,929) 350,000
1,197,609
445,535
(194,516)
501,953
150,460 5,600 2,550 300 152,000 2,000 1,000 313,910
70,890 907 180 31,818 1,227 956 105,978
79,570 5,600 1,643 120 120,182 773 44 207,932
5,182 74,761 1,975 939 180 9,216 1,446 465 94,164
575,199 308,500 883,699
102,727 230,683 333,410
472,472 77,817 550,289
5,950 230,683 236,633
-
-
-
-
1,197,609
439,388
966,153
330,797
-
6,147
6,147
171,156
925,541
925,541
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
$
- 18 -
931,688
877,608 $
1,048,764
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing June 30, 2010 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
January
February
March
April
May
June
Total
0.30%
0.28%
0.21%
0.17%
0.20%
0.20%
0.23%
0.27%
0.34%
0.24%
176,709
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
176,711 -
(1) 3
176,714 -
(1) 3
(1) 3
176,716 -
176,720 -
176,724 -
176,730 -
176,736 -
176,745 -
176,709 -
4
5
5
7
9
11
(3) 50
176,711
176,714
176,716
176,720
176,724
176,730
176,736
176,745
176,756
176,756
183,324
183,326
183,329
183,331
183,335
183,340
183,345
183,352
183,361
183,324
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
(1) 3
(1) 4
(1) 3
-
-
-
-
-
-
-
4
5
6
7
9
12
(3) 52
183,326
183,329
183,331
183,335
183,340
183,345
183,352
183,361
183,373
183,373
6,814
6,813
6,812
6,811
6,812
6,812
6,812
6,812
6,813
6,814
-
-
-
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0
(1) 0
(1) 0
0
0
0
0
0
0
(3) 2
6,813
6,812
6,811
6,812
6,812
6,812
6,812
6,813
6,813
6,813
27,328
27,327
27,327
27,326
27,327
27,328
27,329
27,330
27,331
27,328
-
-
-
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 1
(1) 1
(1) 0
1
1
1
1
1
2
(3) 8
27,327
27,327
27,326
27,327
27,328
27,329
27,330
27,331
27,333
27,333
4,009
4,008
4,007
4,006
4,006
4,006
4,006
4,006
4,007
4,009
-
-
-
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges
(1)
(1)
(1)
- 19 -
(3)
October
November
Investment Earnings Ending Bal.
December
January
February
March
April
May
June
Total
0
0
0
0
0
0
0
0
0
1
4,008
4,007
4,006
4,006
4,006
4,006
4,006
4,007
4,007
4,007
16,737
16,736
16,736
16,735
16,735
16,736
16,736
16,737
16,738
16,737
-
-
-
-
-
-
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0 16,736
(1) 0 16,736
(1) 0 16,735
(3) 5
0
0
1
1
1
1
16,735
16,736
16,736
16,737
16,738
16,739
13
20 20
26.73 27
118 (18) 100
9 11 1 20
11.38 14.27 1.08 27
47 51 2 100
16,739
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
8 (6) 2
8 (6) 2
7 (6) 1
2 0 (1) 2
2 0 (1) 2
2 (0) (1) 1
9 9
11
13
15 15
4 5 0 9
5 6 0 11
5 7 1 13
7 8 1 15
-
11 -
-
Sterling Bank MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
0.00% 9,736
0.00% -
0.00% -
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00% 9,736
(9,736) -
-
-
-
-
-
-
-
-
(9,736) -
-
-
-
-
-
-
-
-
-
-
0
0
0
0
0
0
0
0
0
0
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges Investment Earnings
0.350% 2,991 2,073 280 37 25 (1,483)
0.350% 2,783 2,026 258 36 24 (787)
0.340% 2,889 1,754 207 31 20 (804)
0.250% 2,182 1,353 154 24 15 0
0.250% 1,930 1,278 120 22 13 (11)
0.250% 2,075 1,462 188 25 14 (302)
0.230% 1,859 1,305 172 12 13 (276)
0.220% 1,759 1,303 163 11 12 (307)
0.220% 1,665 1,297 156 11 11
0.27% 20,133 13,852 1,698
3,924
4,340
4,097
3,728
3,351
3,463
3,084
2,941
3,141
31,860
- 20 -
147 (3,970)
October
November
December
January
February
March
April
May
June
Total
Checking Account Ending Balances per Statement Operating Water Plant Reserve
17,763,745 371,007
17,547,666 371,099
19,091,186 371,224
19,074,879 371,313
19,383,886 371,384
19,459,777 371,463
19,090,573 371,463
19,072,256 371,619
19,001,187 371,695
Ending Balances
18,134,752
17,918,765
19,462,410
19,446,193
19,755,270
19,831,240
19,462,036
19,443,875
19,372,882
1,866 1,313 172.34 12 13 3,375
1,768 1,313 163.69 11 12 3,268
1,676.03 1,311.61 157.53 11 11 3,168
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
2,993 2,074 280 37 25 5,409
$
2,785 2,027 257 36 24 5,129
$
2,891 1,753 206 31 20 4,902
$
2,186 1,358 154 24 15 3,738
- 21 -
$
1,935 1,284 120 22 13 3,374
$
2,081 1,469 189 25 14 3,778
$
$
$
$
20,180 13,903 1,700 208 147 36,139
Investment Income 3,000 2,500 2,000 1,500 1,000 500 0 Oct
Nov
Dec
General Fund
Jan
Feb
Utility Fund
- 22 -
Mar
Apr
May
Transportation Fund
Jun
