March 31, 2009
MEMORANDUM Finance Department 2. Total operating expenditures not including capital or debt are 6% or $70,000 higher than the same period last year. The Wastewater operations division has seen significant increase in expenditures relating to the cost of transmitting wastewater to the City of Lake Worth. The cost per thousand gallons in FY 08 was $1.39. In FY 09, that cost increased to $2.26. 3. Net income for the period is $6,000, compared to a net income of $300,000 last year.
TRANSPORTATION FUND 1. Total revenues for the period are down $14,000 compared to the same period last year. This is partly due to the reduction in gas tax revenue and unrealized loss on investments. 2. Operating expenditures have increased by $3,254 or 6%. The increase was for the engineering report on drainage along Hypoluxo Island. 3. Net loss for the period is $129,000 compared to a net loss of $114,500 last year. However, the budgeted transfer of $350k from the General Fund will be prepared in May.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates to almost zero. Currently, the Town’s funds are in LGIP, Sterling Bank, and SunTrust, with the majority in SunTrust. Both SunTrust and Sterling banks are participants in the Qualified Pubic Depository (QPD) program whereby our funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, a new SunTrust account was opened due to a program they were offering where the Town is able to recognize increased investment yield while having 100% safety in the QPD program.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following funds: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
-2-
MEMORANDUM Finance Department STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. At the end of March, we had $505,178 in the pool which is liquid and available for withdrawal. It is recommended to leave these funds in this investment as a part of geographical diversification. In Pool B, the Town’s balance was $425,728 which is not liquid and is not available for withdrawal. Unfortunately, the unrealized loss fiscal yearto-date is $172,346 – Q1 FY-T-D was $147,410.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2009 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
-4-
$
6,167,381 4,451,755 (32,157) 12,364 309,384 64,368 10,973,095
Prior Year
$
$
8,549,487 4,223,805 33,568 11,795 287,497 75,049 13,181,201
195,419 8,161
48,991 9,725
82,894 286,474
106,575 165,291
387,465 -
266,741 -
10,299,156 10,686,621 10,973,095
12,749,169 13,015,910 13,181,201
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2009
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 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 Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 5,245,000 390,750 1,151,000 1,361,830 248,000 680,570 1,803,099 10,880,249
$ 3,528,983 258,076 386,753 876,060 198,411 197,625 5,445,908
1,022,347 4,064,080 657,451 925,281 1,863,994 2,881,744
390,341 1,926,099 295,862 378,274 751,013 1,837,630
632,006 2,137,981 361,589 547,007 1,112,981 1,044,114
334,205 3,422,674 397,541 457,163 755,143 186,421
122,500 100,000 11,637,397
60,979 5,640,198
61,521 100,000 5,997,199
145,346 5,698,493
562,858
2,729,457
(757,148)
(194,290)
(350,000) 1,107,148 757,148
11,000 11,000
-
Fund balance, beginning of year
(183,290) 10,869,911 $ 10,686,621
FUND BALANCE, END OF PERIOD
-5-
$ (1,716,017) (132,674) (764,247) (485,770) (49,589) (482,945) (3,631,242)
11,000 350,000 (1,107,148) (746,148)
$ 6,184,463 306,100 475,829 869,678 124,272 467,608 8,427,950
7,018 7,018 2,736,475 10,279,435 $ 13,015,910
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget
Actual
$ 3,130,000 760,000 940,000 415,000 5,245,000
$ 2,704,908 256,177 388,316 179,582 3,528,983
219,000 171,750 390,750
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) (425,092) (503,823) (551,684) (235,418) (1,716,017)
$ 5,431,145 216,515 399,294 137,509 6,184,463
199,870 58,206 258,076
(19,130) (113,544) (132,674)
203,370 102,730 306,100
110,000 300,000 10,000 9,000 700,000 22,000 1,151,000
145,709 21,301 215,706 4,037 386,753
(110,000) (154,291) 11,301 (9,000) (484,294) (17,963) (764,247)
162,620 23,773 251,021 38,415 475,829
718,000 97,000 500,330 46,500 1,361,830
314,877 42,657 495,083 23,443 876,060
(403,123) (54,343) (5,247) (23,057) 485,770
336,231 44,848 465,839 22,760 869,678
Fines and forfeitures
248,000
198,411
(49,589)
124,272
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
390,000 187,200 4,500 73,920 14,950 10,000 680,570
24,209 79,756 4,500 54,897 14,954 19,309 197,625
(365,791) (107,444) (19,023) 4 9,309 (482,945)
224,314 88,283 19,883 110,774 14,954 9,400 467,608
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
1,107,148 1,803,099 2,910,247 $ 11,987,397
11,000 11,000 $ 5,456,908
11,000 (1,107,148) (1,803,099) (2,899,247) $ (6,530,489)
7,018 7,018 $ 8,434,968
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
-6-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget General government: Legislative: Personal services Operating Total Legislative
$
76,830 11,700 88,530
$
41,686 4,668 46,354
Variance Favorable (Unfavorable)
$
35,144 7,032 42,176
Prior Year Actual
$
34,355 5,047 39,402
Executive: Personal services Operating Capital Total Executive
109,620 26,490 89,205 225,315
56,421 11,276 1,721 69,418
53,199 15,214 87,484 155,897
42,045 8,602 3,192 53,839
Town Clerk: Personal services Operating Capital Total Town Clerk
51,340 19,430 70,770
25,141 4,677 29,818
26,199 14,753 40,952
24,933 10,723 35,656
Financial Administration: Personal services Operating Capital Total Financial Administration
244,302 123,625 25,535 393,462
116,160 58,634 12,799 187,593
128,142 64,991 12,736 205,869
96,332 52,978 149,310
Legal Counsel: Personal services Operating Total Legal Counsel
13,720 120,395 134,115
6,972 46,441 53,413
6,748 73,954 80,702
6,168 43,659 49,827
224,895 54,980 279,875 1,192,067
18,265 18,265 404,861
206,630 54,980 261,610 787,206
9,363 9,363 337,397
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-7-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
332,182 74,380 406,562
161,790 49,692 211,482
170,392 24,688 195,080
146,545 52,371 198,916
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
2,358,022 218,390 346,509 2,922,921
1,115,967 77,084 263,949 1,457,000
1,242,055 141,306 82,560 1,465,921
1,103,727 88,896 97,014 1,289,637
Services: Personal services Operating Capital Total Police Services
576,340 140,900 500,115 1,217,355
288,373 62,807 9,281 360,461
287,967 78,093 490,834 856,894
279,601 67,818 10,500 357,919
343,896 19,970 31,660 395,526
162,412 7,974 31,605 201,991
181,484 11,996 55 193,535
144,275 4,751 149,026
-
-
-
1,534,690
4,942,364
2,230,934
2,711,430
3,530,188
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
160,366 14,860 175,226
77,811 5,671 83,482
82,555 9,189 91,744
76,189 73,823 150,012
Building Inspections: Personal services Operating Capital Total Building Inspections
119,211 158,890 278,101
57,576 63,166 120,742
61,635 95,724 157,359
107,531 45,872 6,661 160,064
Code Enforcement: Personal services Operating Capital Total Code Enforcement
184,424 19,700 204,124
84,051 7,587 91,638
100,373 12,113 112,486
86,669 7,457 94,126
Total Development Services
657,451
295,862
361,589
404,202
31,417 18,920 50,337
14,653 4,740 19,393
16,764 14,180 30,944
37,080 4,814 41,894
73,947 16,800 6,200 96,947
33,624 5,576 3,570 42,770
40,323 11,224 2,630 54,177
34,551 4,960 39,511
Physical Environment: Utilities Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
232,908 121,300 354,208
97,088 36,713 133,801
135,820 84,587 220,407
123,221 35,547 158,768
Trash Collection: Personal services Operating Capital Total Trash Collection
231,568 122,550 354,118
120,301 33,375 153,676
111,267 89,175 200,442
131,337 39,062 170,399
Recycling Collection: Personal services Operating Capital Total Recycling Collection
56,011 19,860 75,871
24,433 7,771 32,204
31,578 12,089 43,667
38,641 7,950 46,591
Total Physical Environment
931,481
381,844
549,637
457,163
Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
42,610 63,401 122,500 228,511
21,092 21,614 60,979 103,685
21,518 41,787 61,521 124,826
84,094 35,853 60,979 180,926
Library: Personal services Operating Capital Total library Services
112,669 48,133 25,200 186,002
51,999 21,251 11,527 84,777
60,670 26,882 13,673 101,225
61,665 22,042 10,902 94,609
Marine Services: Personal services Operating Capital Total Marine Services
301,452 23,062 6,500 331,014
144,683 7,698 152,381
156,769 15,364 6,500 178,633
166,984 8,639 175,623
385,943 366,639 1,675,030 2,427,612
193,913 83,261 1,480,704 1,757,878
192,030 283,378 194,326 669,734
95,633 113,958 58,152 267,743
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
Variance Favorable (Unfavorable)
Prior Year Actual
254,176 185,909 120,810 560,895
124,707 68,339 22,474 215,520
129,469 117,570 98,336 345,375
83,107 57,434 140,541
80,000 80,000 3,814,034
12,456 12,456 2,326,697
67,544 67,544 1,487,337
25,734 25,734 885,176
350,000 100,000 $ 11,987,397
$ 5,640,198
350,000 100,000 6,347,199
84,367 5,698,493
- 11 -
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2009 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
$
- 12 -
5,904,126 500,454 107,008 455,521 6,967,109
Prior Year
$
5,646,593 408,293 110,682 451,046 6,616,614
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
1,766,177 19,674,837
1,933,150 20,146,541
$
359,105 2,927,389 339,596
70,476 3,159,744 177,534
141,303 160,181 6,430,000 10,357,574
120,790 151,138 6,785,000 10,464,682
2,445,897 1,997,772 4,873,594 9,317,263
2,445,897 2,195,235 5,040,727 9,681,859
19,674,837
$
20,146,541
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Variance Favorable (Unfavorable)
1,033,759 1,061,865 68,545 2,164,169
$ (1,123,341) (1,323,135) (413,705) (2,860,181)
799,209 1,584,810 2,384,019
397,671 729,509 1,127,180
401,538 855,301 1,256,839
875,529
409,741
465,788
424,944
Debt Services Capital outlay
1,047,500 1,725,587 2,773,087
494,725 97,888 592,613
552,775 1,627,699 2,180,474
340,560 31,065 371,625
Total operating expenses
6,032,635
2,129,534
3,903,101
1,853,032
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward Total non-operating revenues (expenses) Net income/(loss)
$
2,157,100 2,385,000 482,250 5,024,350
$
(1,008,285)
34,635
Prior YTD Actual $
965,360 1,034,421 67,694 2,067,475
439,694 616,769 1,056,463
(6,763,282)
214,443
125,000 883,285
(28,581) -
(153,581) (883,285)
85,661 -
1,008,285
(28,581)
(1,036,866)
85,661
-
Net assets, beginning Net assets, ending
6,054
$
- 13 -
9,311,209 9,317,263
6,054
300,104
$
9,381,755 9,681,859
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
51,205 9,300 60,505
$
27,798 4,068 31,866
Variance Favorable (Unfavorable)
$
23,407 5,232 28,639
Prior Year Actual
$
22,905 3,221 26,126
109,620 26,490 136,110
56,744 10,561 67,305
52,876 15,929 68,805
60,822 10,887 71,709
Town Clerk: Personal services Operating
33,580 14,530
16,761 3,362
16,819 11,168
16,619 6,263
Total Town Clerk
48,110
20,123
27,987
22,882
408,294 158,105 19,855 586,254
191,241 81,511 1,174 273,926
217,053 76,594 18,681 312,328
202,342 83,070 894 286,306
3,220 28,930 32,150
1,775 8,971 10,746
1,445 19,959 21,404
1,575 9,856 11,431
12,400 12,400
5,775 5,775
6,625 6,625
6,490 6,490
875,529
409,741
465,788
424,944
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
- 14 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget Operations Utilities Administration Personal services Operating Capital
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
131,211 18,920 150,131
64,061 4,688 68,749
67,150 14,232 81,382
37,085 4,945 42,030
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
-
-
-
40,987 25,492 66,479
Building Maintenance Personal services Operating Total Building Maintenance
-
-
-
35,628 23,673 59,301
74,017 16,730 90,747
33,623 6,566 40,189
40,394 10,164 50,558
34,542 4,511 7,565 46,618
388,522 502,300 1,182,462 2,073,284
197,209 212,769 87,685 497,663
191,313 289,531 1,094,777 1,575,621
193,422 217,797 13,159 424,378
205,459 1,046,860 543,125 1,795,444
102,778 505,486 10,203 618,467
102,681 541,374 532,922 1,176,977
98,030 340,351 10,341 448,722
Total operations
4,109,606
1,225,068
2,884,538
1,087,528
Debt Services Contingency
1,047,500 -
494,725 -
552,775 -
340,560 -
$ 6,032,635
$ 2,129,534
3,903,101
$ 1,853,032
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
- 15 -
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) March 31, 2009 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
701,349 47,757 749,106
Prior Year
$
424,457 37,284 461,741
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
984 984
-
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
748,122 748,122
461,741 461,741
Total Liabilities and Equity
$
- 16 -
749,106
$
461,741
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended March 31, 2009
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
247,000 9,000 391,550 5,155 350,000
$
85,287 (1,695) -
$
(161,713) (10,695) -
$
92,009 5,964 -
1,002,705
83,592
(172,408)
97,973
5,155 132,000 5,600 2,300 300 60,000 2,700 600 208,655
4,735 47,571 1,975 255 120 3,352 960 321 59,289
420 84,429 3,625 2,045 180 56,648 1,740 279 149,366
46,142 1,975 1,024 120 5,624 930 220 56,035
485,550 308,500 794,050
153,789 153,789
485,550 154,711 640,261
2,580 153,789 156,369
-
-
-
-
1,002,705
213,078
938,573
212,404
(129,486)
(129,486)
(114,431)
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
877,608
FUND BALANCE, END OF PERIOD
877,608 $
- 17 -
748,122
576,172 $
461,741
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing March 31, 2009 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
Total
2.01%
1.42%
1.02%
0.85%
0.94%
0.86%
1.18%
395,253
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
395,590
395,824
396,004
396,155
396,309
-
-
-
-
-
-
(1) 338
(1) 235
(1) 181
(1) 152
(1) 155
(1) 158
395,253 (6) 1,219
395,590
395,824
396,004
396,155
396,309
396,466
396,466
410,048
410,398
410,641
410,828
410,985
411,144
410,048
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
-
-
(1) 351
(1) 244
(1) 188
(1) 158
(1) 161
(1) 164
(6) 1,265
410,398
410,641
410,828
410,985
411,144
411,307
411,307
15,244
15,256
15,264
15,270
15,275
15,280
15,244
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 13
(1) 9
(1) 7
(1) 6
(1) 6
(1) 6
(6) 47
15,256
15,264
15,270
15,275
15,280
15,285
15,285
61,127
61,178
61,214
61,241
61,263
61,286
61,127
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 52
(1) 36
(1) 28
(1) 24
(1) 24
(1) 24
(6) 189
61,178
61,214
61,241
61,263
61,286
61,310
61,310
8,969
8,976
8,980
8,983
8,986
8,988
8,969
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 8 8,976
(1) 5 8,980
(1) 4 8,983
- 18 -
(1) 3 8,986
(1) 4 8,988
(1) 4 8,991
(6) 28 8,991
October
November
December
January
February
March
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings
37,439
37,470
37,491
37,507
37,520
37,534
37,439
-
-
-
-
-
-
-
(1) 32
Ending Bal.
(1) 22
37,470
(1) 17
37,491
(1) 14
37,507
(1) 15
37,520
(1) 15
37,534
(6) 115
37,548
37,548
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
794 (6) 788
553 (6) 547
424 (6) 418
358 (6) 351
364 (6) 358
371 (6) 365
2,863 (37) 2,826
337 420 31 788
234 291 21 547
180 222 16 418
151 187 13 351
154 190 14 358
157 194 14 365
1,213 1,504 109 2,826
Sterling Bank MMDA Investment Rate Beginning Bal.
2.90% 3,905,530
Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
2.79% 3,915,037
2.79% 3,923,305
2.79% 3,933,071
1.86% 3,941,971
1.65% 3,947,537
2.46% 3,905,530
9,508
8,268
9,766
8,900
5,566
5,652
47,659
3,915,037
3,923,305
3,933,071
3,941,971
3,947,537
3,953,189
3,953,189
9,508
8,268
9,766
8,900
5,566
5,652
47,659
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Other Funds Bank Charges
0.830% 4,823 4,421 592 219 (1,093)
0.210% 1,144 1,296 138 52 (822)
0.160% 1,074 1,038 100 38 (727)
0.360% 2,434 487 252 99 (849)
0.400% 2,335 2,296 243 99 (859)
0.400% 2,303 2,412 259 109 (833)
0.39% 14,111 11,951 1,584 616 (5,183)
8,962
1,807
1,523
2,423
4,113
4,250
23,078
Operating Water Plant Reserve
13,779,824 368,935
13,776,919 369,238
15,941,131 369,518
15,802,060 369,753
15,159,779 369,966
14,300,141 370,172
Ending Balances
14,148,759
14,146,157
16,310,649
16,171,814
15,529,745
14,670,313
8,054 2,486 256 10,797
8,112 2,606 273 10,991
Investment Earnings Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
14,667 4,840 623 20,131
$
9,645 1,587 159 11,391
$
- 19 -
11,020 1,260 116 12,396
$
11,485 674 265 12,424
$
$
$
62,983 13,454 1,693 78,131
INVESTMENT EARNINGS
$20,000
$15,000
$10,000
$5,000
$0 Oct
Nov
Dec
Jan
General Fund
Utility Fund
- 20 -
Feb
Transportation Fund
Mar
TRANSPORTATION FUND 1. Total revenues for the period are down $14,000 compared to the same period last year. This is partly due to the reduction in gas tax revenue and unrealized loss on investments. 2. Operating expenditures have increased by $3,254 or 6%. The increase was for the engineering report on drainage along Hypoluxo Island. 3. Net loss for the period is $129,000 compared to a net loss of $114,500 last year. However, the budgeted transfer of $350k from the General Fund will be prepared in May.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates to almost zero. Currently, the Town’s funds are in LGIP, Sterling Bank, and SunTrust, with the majority in SunTrust. Both SunTrust and Sterling banks are participants in the Qualified Pubic Depository (QPD) program whereby our funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, a new SunTrust account was opened due to a program they were offering where the Town is able to recognize increased investment yield while having 100% safety in the QPD program.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following funds: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
-2-
MEMORANDUM Finance Department STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) We are currently monitoring the daily activity of the LGIP. At the end of March, we had $505,178 in the pool which is liquid and available for withdrawal. It is recommended to leave these funds in this investment as a part of geographical diversification. In Pool B, the Town’s balance was $425,728 which is not liquid and is not available for withdrawal. Unfortunately, the unrealized loss fiscal yearto-date is $172,346 – Q1 FY-T-D was $147,410.
I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2009 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
-4-
$
6,167,381 4,451,755 (32,157) 12,364 309,384 64,368 10,973,095
Prior Year
$
$
8,549,487 4,223,805 33,568 11,795 287,497 75,049 13,181,201
195,419 8,161
48,991 9,725
82,894 286,474
106,575 165,291
387,465 -
266,741 -
10,299,156 10,686,621 10,973,095
12,749,169 13,015,910 13,181,201
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2009
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 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 Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 5,245,000 390,750 1,151,000 1,361,830 248,000 680,570 1,803,099 10,880,249
$ 3,528,983 258,076 386,753 876,060 198,411 197,625 5,445,908
1,022,347 4,064,080 657,451 925,281 1,863,994 2,881,744
390,341 1,926,099 295,862 378,274 751,013 1,837,630
632,006 2,137,981 361,589 547,007 1,112,981 1,044,114
334,205 3,422,674 397,541 457,163 755,143 186,421
122,500 100,000 11,637,397
60,979 5,640,198
61,521 100,000 5,997,199
145,346 5,698,493
562,858
2,729,457
(757,148)
(194,290)
(350,000) 1,107,148 757,148
11,000 11,000
-
Fund balance, beginning of year
(183,290) 10,869,911 $ 10,686,621
FUND BALANCE, END OF PERIOD
-5-
$ (1,716,017) (132,674) (764,247) (485,770) (49,589) (482,945) (3,631,242)
11,000 350,000 (1,107,148) (746,148)
$ 6,184,463 306,100 475,829 869,678 124,272 467,608 8,427,950
7,018 7,018 2,736,475 10,279,435 $ 13,015,910
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget
Actual
$ 3,130,000 760,000 940,000 415,000 5,245,000
$ 2,704,908 256,177 388,316 179,582 3,528,983
219,000 171,750 390,750
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) (425,092) (503,823) (551,684) (235,418) (1,716,017)
$ 5,431,145 216,515 399,294 137,509 6,184,463
199,870 58,206 258,076
(19,130) (113,544) (132,674)
203,370 102,730 306,100
110,000 300,000 10,000 9,000 700,000 22,000 1,151,000
145,709 21,301 215,706 4,037 386,753
(110,000) (154,291) 11,301 (9,000) (484,294) (17,963) (764,247)
162,620 23,773 251,021 38,415 475,829
718,000 97,000 500,330 46,500 1,361,830
314,877 42,657 495,083 23,443 876,060
(403,123) (54,343) (5,247) (23,057) 485,770
336,231 44,848 465,839 22,760 869,678
Fines and forfeitures
248,000
198,411
(49,589)
124,272
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
390,000 187,200 4,500 73,920 14,950 10,000 680,570
24,209 79,756 4,500 54,897 14,954 19,309 197,625
(365,791) (107,444) (19,023) 4 9,309 (482,945)
224,314 88,283 19,883 110,774 14,954 9,400 467,608
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
1,107,148 1,803,099 2,910,247 $ 11,987,397
11,000 11,000 $ 5,456,908
11,000 (1,107,148) (1,803,099) (2,899,247) $ (6,530,489)
7,018 7,018 $ 8,434,968
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
-6-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget General government: Legislative: Personal services Operating Total Legislative
$
76,830 11,700 88,530
$
41,686 4,668 46,354
Variance Favorable (Unfavorable)
$
35,144 7,032 42,176
Prior Year Actual
$
34,355 5,047 39,402
Executive: Personal services Operating Capital Total Executive
109,620 26,490 89,205 225,315
56,421 11,276 1,721 69,418
53,199 15,214 87,484 155,897
42,045 8,602 3,192 53,839
Town Clerk: Personal services Operating Capital Total Town Clerk
51,340 19,430 70,770
25,141 4,677 29,818
26,199 14,753 40,952
24,933 10,723 35,656
Financial Administration: Personal services Operating Capital Total Financial Administration
244,302 123,625 25,535 393,462
116,160 58,634 12,799 187,593
128,142 64,991 12,736 205,869
96,332 52,978 149,310
Legal Counsel: Personal services Operating Total Legal Counsel
13,720 120,395 134,115
6,972 46,441 53,413
6,748 73,954 80,702
6,168 43,659 49,827
224,895 54,980 279,875 1,192,067
18,265 18,265 404,861
206,630 54,980 261,610 787,206
9,363 9,363 337,397
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-7-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
332,182 74,380 406,562
161,790 49,692 211,482
170,392 24,688 195,080
146,545 52,371 198,916
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
2,358,022 218,390 346,509 2,922,921
1,115,967 77,084 263,949 1,457,000
1,242,055 141,306 82,560 1,465,921
1,103,727 88,896 97,014 1,289,637
Services: Personal services Operating Capital Total Police Services
576,340 140,900 500,115 1,217,355
288,373 62,807 9,281 360,461
287,967 78,093 490,834 856,894
279,601 67,818 10,500 357,919
343,896 19,970 31,660 395,526
162,412 7,974 31,605 201,991
181,484 11,996 55 193,535
144,275 4,751 149,026
-
-
-
1,534,690
4,942,364
2,230,934
2,711,430
3,530,188
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Variance Favorable (Unfavorable)
Prior Year Actual
160,366 14,860 175,226
77,811 5,671 83,482
82,555 9,189 91,744
76,189 73,823 150,012
Building Inspections: Personal services Operating Capital Total Building Inspections
119,211 158,890 278,101
57,576 63,166 120,742
61,635 95,724 157,359
107,531 45,872 6,661 160,064
Code Enforcement: Personal services Operating Capital Total Code Enforcement
184,424 19,700 204,124
84,051 7,587 91,638
100,373 12,113 112,486
86,669 7,457 94,126
Total Development Services
657,451
295,862
361,589
404,202
31,417 18,920 50,337
14,653 4,740 19,393
16,764 14,180 30,944
37,080 4,814 41,894
73,947 16,800 6,200 96,947
33,624 5,576 3,570 42,770
40,323 11,224 2,630 54,177
34,551 4,960 39,511
Physical Environment: Utilities Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget
Variance Favorable (Unfavorable)
Prior Year Actual
Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
232,908 121,300 354,208
97,088 36,713 133,801
135,820 84,587 220,407
123,221 35,547 158,768
Trash Collection: Personal services Operating Capital Total Trash Collection
231,568 122,550 354,118
120,301 33,375 153,676
111,267 89,175 200,442
131,337 39,062 170,399
Recycling Collection: Personal services Operating Capital Total Recycling Collection
56,011 19,860 75,871
24,433 7,771 32,204
31,578 12,089 43,667
38,641 7,950 46,591
Total Physical Environment
931,481
381,844
549,637
457,163
Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
42,610 63,401 122,500 228,511
21,092 21,614 60,979 103,685
21,518 41,787 61,521 124,826
84,094 35,853 60,979 180,926
Library: Personal services Operating Capital Total library Services
112,669 48,133 25,200 186,002
51,999 21,251 11,527 84,777
60,670 26,882 13,673 101,225
61,665 22,042 10,902 94,609
Marine Services: Personal services Operating Capital Total Marine Services
301,452 23,062 6,500 331,014
144,683 7,698 152,381
156,769 15,364 6,500 178,633
166,984 8,639 175,623
385,943 366,639 1,675,030 2,427,612
193,913 83,261 1,480,704 1,757,878
192,030 283,378 194,326 669,734
95,633 113,958 58,152 267,743
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
Variance Favorable (Unfavorable)
Prior Year Actual
254,176 185,909 120,810 560,895
124,707 68,339 22,474 215,520
129,469 117,570 98,336 345,375
83,107 57,434 140,541
80,000 80,000 3,814,034
12,456 12,456 2,326,697
67,544 67,544 1,487,337
25,734 25,734 885,176
350,000 100,000 $ 11,987,397
$ 5,640,198
350,000 100,000 6,347,199
84,367 5,698,493
- 11 -
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2009 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
$
- 12 -
5,904,126 500,454 107,008 455,521 6,967,109
Prior Year
$
5,646,593 408,293 110,682 451,046 6,616,614
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
1,766,177 19,674,837
1,933,150 20,146,541
$
359,105 2,927,389 339,596
70,476 3,159,744 177,534
141,303 160,181 6,430,000 10,357,574
120,790 151,138 6,785,000 10,464,682
2,445,897 1,997,772 4,873,594 9,317,263
2,445,897 2,195,235 5,040,727 9,681,859
19,674,837
$
20,146,541
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2009
Actual
Variance Favorable (Unfavorable)
1,033,759 1,061,865 68,545 2,164,169
$ (1,123,341) (1,323,135) (413,705) (2,860,181)
799,209 1,584,810 2,384,019
397,671 729,509 1,127,180
401,538 855,301 1,256,839
875,529
409,741
465,788
424,944
Debt Services Capital outlay
1,047,500 1,725,587 2,773,087
494,725 97,888 592,613
552,775 1,627,699 2,180,474
340,560 31,065 371,625
Total operating expenses
6,032,635
2,129,534
3,903,101
1,853,032
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total Administrative expenses
Operating income/(loss) Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward Total non-operating revenues (expenses) Net income/(loss)
$
2,157,100 2,385,000 482,250 5,024,350
$
(1,008,285)
34,635
Prior YTD Actual $
965,360 1,034,421 67,694 2,067,475
439,694 616,769 1,056,463
(6,763,282)
214,443
125,000 883,285
(28,581) -
(153,581) (883,285)
85,661 -
1,008,285
(28,581)
(1,036,866)
85,661
-
Net assets, beginning Net assets, ending
6,054
$
- 13 -
9,311,209 9,317,263
6,054
300,104
$
9,381,755 9,681,859
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
51,205 9,300 60,505
$
27,798 4,068 31,866
Variance Favorable (Unfavorable)
$
23,407 5,232 28,639
Prior Year Actual
$
22,905 3,221 26,126
109,620 26,490 136,110
56,744 10,561 67,305
52,876 15,929 68,805
60,822 10,887 71,709
Town Clerk: Personal services Operating
33,580 14,530
16,761 3,362
16,819 11,168
16,619 6,263
Total Town Clerk
48,110
20,123
27,987
22,882
408,294 158,105 19,855 586,254
191,241 81,511 1,174 273,926
217,053 76,594 18,681 312,328
202,342 83,070 894 286,306
3,220 28,930 32,150
1,775 8,971 10,746
1,445 19,959 21,404
1,575 9,856 11,431
12,400 12,400
5,775 5,775
6,625 6,625
6,490 6,490
875,529
409,741
465,788
424,944
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
- 14 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2009
Budget Operations Utilities Administration Personal services Operating Capital
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
131,211 18,920 150,131
64,061 4,688 68,749
67,150 14,232 81,382
37,085 4,945 42,030
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
-
-
-
40,987 25,492 66,479
Building Maintenance Personal services Operating Total Building Maintenance
-
-
-
35,628 23,673 59,301
74,017 16,730 90,747
33,623 6,566 40,189
40,394 10,164 50,558
34,542 4,511 7,565 46,618
388,522 502,300 1,182,462 2,073,284
197,209 212,769 87,685 497,663
191,313 289,531 1,094,777 1,575,621
193,422 217,797 13,159 424,378
205,459 1,046,860 543,125 1,795,444
102,778 505,486 10,203 618,467
102,681 541,374 532,922 1,176,977
98,030 340,351 10,341 448,722
Total operations
4,109,606
1,225,068
2,884,538
1,087,528
Debt Services Contingency
1,047,500 -
494,725 -
552,775 -
340,560 -
$ 6,032,635
$ 2,129,534
3,903,101
$ 1,853,032
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
- 15 -
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) March 31, 2009 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
701,349 47,757 749,106
Prior Year
$
424,457 37,284 461,741
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
984 984
-
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
748,122 748,122
461,741 461,741
Total Liabilities and Equity
$
- 16 -
749,106
$
461,741
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended March 31, 2009
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
247,000 9,000 391,550 5,155 350,000
$
85,287 (1,695) -
$
(161,713) (10,695) -
$
92,009 5,964 -
1,002,705
83,592
(172,408)
97,973
5,155 132,000 5,600 2,300 300 60,000 2,700 600 208,655
4,735 47,571 1,975 255 120 3,352 960 321 59,289
420 84,429 3,625 2,045 180 56,648 1,740 279 149,366
46,142 1,975 1,024 120 5,624 930 220 56,035
485,550 308,500 794,050
153,789 153,789
485,550 154,711 640,261
2,580 153,789 156,369
-
-
-
-
1,002,705
213,078
938,573
212,404
(129,486)
(129,486)
(114,431)
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
877,608
FUND BALANCE, END OF PERIOD
877,608 $
- 17 -
748,122
576,172 $
461,741
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing March 31, 2009 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
Total
2.01%
1.42%
1.02%
0.85%
0.94%
0.86%
1.18%
395,253
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
395,590
395,824
396,004
396,155
396,309
-
-
-
-
-
-
(1) 338
(1) 235
(1) 181
(1) 152
(1) 155
(1) 158
395,253 (6) 1,219
395,590
395,824
396,004
396,155
396,309
396,466
396,466
410,048
410,398
410,641
410,828
410,985
411,144
410,048
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
-
-
(1) 351
(1) 244
(1) 188
(1) 158
(1) 161
(1) 164
(6) 1,265
410,398
410,641
410,828
410,985
411,144
411,307
411,307
15,244
15,256
15,264
15,270
15,275
15,280
15,244
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 13
(1) 9
(1) 7
(1) 6
(1) 6
(1) 6
(6) 47
15,256
15,264
15,270
15,275
15,280
15,285
15,285
61,127
61,178
61,214
61,241
61,263
61,286
61,127
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 52
(1) 36
(1) 28
(1) 24
(1) 24
(1) 24
(6) 189
61,178
61,214
61,241
61,263
61,286
61,310
61,310
8,969
8,976
8,980
8,983
8,986
8,988
8,969
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 8 8,976
(1) 5 8,980
(1) 4 8,983
- 18 -
(1) 3 8,986
(1) 4 8,988
(1) 4 8,991
(6) 28 8,991
October
November
December
January
February
March
Total
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings
37,439
37,470
37,491
37,507
37,520
37,534
37,439
-
-
-
-
-
-
-
(1) 32
Ending Bal.
(1) 22
37,470
(1) 17
37,491
(1) 14
37,507
(1) 15
37,520
(1) 15
37,534
(6) 115
37,548
37,548
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
794 (6) 788
553 (6) 547
424 (6) 418
358 (6) 351
364 (6) 358
371 (6) 365
2,863 (37) 2,826
337 420 31 788
234 291 21 547
180 222 16 418
151 187 13 351
154 190 14 358
157 194 14 365
1,213 1,504 109 2,826
Sterling Bank MMDA Investment Rate Beginning Bal.
2.90% 3,905,530
Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earnings
2.79% 3,915,037
2.79% 3,923,305
2.79% 3,933,071
1.86% 3,941,971
1.65% 3,947,537
2.46% 3,905,530
9,508
8,268
9,766
8,900
5,566
5,652
47,659
3,915,037
3,923,305
3,933,071
3,941,971
3,947,537
3,953,189
3,953,189
9,508
8,268
9,766
8,900
5,566
5,652
47,659
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Other Funds Bank Charges
0.830% 4,823 4,421 592 219 (1,093)
0.210% 1,144 1,296 138 52 (822)
0.160% 1,074 1,038 100 38 (727)
0.360% 2,434 487 252 99 (849)
0.400% 2,335 2,296 243 99 (859)
0.400% 2,303 2,412 259 109 (833)
0.39% 14,111 11,951 1,584 616 (5,183)
8,962
1,807
1,523
2,423
4,113
4,250
23,078
Operating Water Plant Reserve
13,779,824 368,935
13,776,919 369,238
15,941,131 369,518
15,802,060 369,753
15,159,779 369,966
14,300,141 370,172
Ending Balances
14,148,759
14,146,157
16,310,649
16,171,814
15,529,745
14,670,313
8,054 2,486 256 10,797
8,112 2,606 273 10,991
Investment Earnings Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund $
14,667 4,840 623 20,131
$
9,645 1,587 159 11,391
$
- 19 -
11,020 1,260 116 12,396
$
11,485 674 265 12,424
$
$
$
62,983 13,454 1,693 78,131
INVESTMENT EARNINGS
$20,000
$15,000
$10,000
$5,000
$0 Oct
Nov
Dec
Jan
General Fund
Utility Fund
- 20 -
Feb
Transportation Fund
Mar
