March 31, 2017
MEMORANDUM Finance Department INVESTMENT REPORT On March 31st, the Town’s funds were in the Florida Local Government Surplus Trust Funds Investment Pool (Florida Prime), TD Bank, and SunTrust. During this quarter, an investment account with SunTrust was closed and disbursed between Florida Prime and TD Bank due to favorable rates and security of principal. As of the date of this memorandum, SunTrust and TD Bank continue to participate in the Qualified Public Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, both SunTrust and TD Bank possess a four-star rating from BauerFinancial which indicates the banks are in excellent financial condition. OTHER FUNDS The following pages include smaller funds not included in the Executive Summary. These include the Police Education, Police Forfeiture, Grants, and Insurance funds.
Please contact me with any questions you may have.
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BUDGET-IN-BRIEF as of March 31, 2017 (50% of year elapsed)
General Fund Revenues Revenues Budget Year-to-Date Taxes 5,600,012 3,755,219 Licenses & Permits 679,191 611,062 Assessments 683,183 592,547 Intergovernmental Revenue 1,902,523 537,401 Charges for Services 834,504 712,594 Fines & Forfeitures 184,088 154,112 Misc. Revenue 631,573 467,353 Interfund Transfers Appropriations & Carryover 433,312 Total Revenues $ 10,948,386 $ 6,830,288
Other Town Funds % 67.1% 90.0% 86.7% 28.2% 85.4% 83.7% 74.0% 0.0% 0.0% 62.4%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 3,377 1,249
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 556,116 (77,664) 478,452 478,452
Year-to-Date 106,068 106,068 82,318
% 19.1% 0.0% 22.2% 17.2%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 418,750 418,750 418,750
Year-to-Date 208,999 208,999 282,878
% 49.9% N/A 49.9% 67.6%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 21,496,573 7,157,700
% 33.3%
General Fund Expenditures Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police Development Services Operations Library Town Events Capital Outlay Debt Service Interfund Transfers Contingency Total Expenditures
Budget 131,433 229,487 361,437 165,000 60,320 4,662,415 651,529 2,479,651 156,800 47,155 1,322,157 367,500 10,000 303,502 $ 10,948,386
Year-to-Date 62,238 107,011 180,999 52,346 22,610 2,274,740 307,140 1,053,747 68,507 6,875 380,455 153,789 $ 4,670,457
% 47.4% 46.6% 50.1% 31.7% 37.5% 48.8% 47.1% 42.5% 43.7% 14.6% 28.8% 41.8% 0.0% 0.0% 42.7%
Year-to-Date 2,741,004
% 48.7%
Other Town Funds
Utility Fund Revenues
Budget 5,629,170
Appropriations & Carryover
4,016,421
-
Total Revenues Total Expenses
9,645,591 9,645,591
2,741,004 2,118,635
Police Education Fund
Budget
Year-to-Date 2,126
N/A 28.4% 22.0%
%
Revenues
3,394
62.6%
Appropriations & Carryover
2,000
-
0.0%
Total Revenues
5,394
2,126
39.4%
Total Expenses
5,394
3,412
63.3%
-3-
(not including Police Forfeiture Fund)
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2017 Current Year Assets and Other Debits Assets Cash and cash equivalents Investments Accounts receivable Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits Liabilities Accounts payable Other liabilities Payable from restricted assets Accrued wages payable Deferred revenue Total liabilities Fund balances Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
-4-
$
6,629,988 6,233,662 2,180 7,505 413,455 439,517 13,726,307
Prior Year
$
$
9,379,163 2,214,492 (581) 11,668 265,468 499,488 12,369,698
158,632 17,750
423,379 19,704
667,744 844,126
508,865 951,948
951,118 11,931,063 12,882,181 13,726,307
848,697 10,569,053 11,417,750 12,369,698
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2017
Revenues Taxes Licenses, permits & fees Intergovernmental Charges for services Fines and forfeitures Miscellaneous Total revenues Expenditures Current General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources Sale of fixed assets Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures
Budget
Actual
Variance Favorable (Unfavorable)
$ 5,600,012 1,362,374 1,902,523 844,504 184,088 615,073 10,508,574
$ 3,755,219 1,203,610 537,401 738,539 154,112 434,505 6,823,386
$ (1,844,793) (158,764) (1,365,122) (105,965) (29,976) (180,568) (3,685,188)
947,677 4,662,415 651,529 2,514,427 203,955 1,287,381
425,203 2,274,740 307,140 1,088,377 75,383 345,827
522,474 2,387,675 344,389 1,426,050 128,572 941,554
400,593 2,071,103 262,892 919,228 66,336 1,550,797
367,500 303,502 10,938,386
153,789 4,670,459
213,711 303,502 6,267,927
214,578 5,485,527
2,152,927
2,582,739
2,332,167
(429,812)
$ 3,484,561 1,027,157 1,328,213 694,858 121,626 1,161,279 7,817,694
6,500 433,312 429,812
6,902 6,902
-
2,159,829
2,334,040
10,722,352 $ 12,882,181
9,083,708 $ 11,417,750
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
402 (433,312) (422,910)
Prior Year Actual
1,874 1,874
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Taxes Ad Valorem taxes $ 2,761,485 Franchise taxes 1,119,273 Utility service taxes 1,215,034 209,400 Local Communications Services Tax Gasoline taxes 294,820 Local Gov't Infrastructure Tax One Cent Total taxes 5,600,012
Actual $ 2,459,619 558,624 511,365 70,083 100,705 54,823 3,755,219
Variance Favorable (Unfavorable) $
Prior Year Actual
(301,866) (560,649) (703,669) (139,317) (194,115) 54,823 (1,844,793)
$ 2,252,147 565,376 493,401 80,095 93,542 3,484,561
Licenses, permits & fees Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
270,569 408,622 605,320 77,863 1,362,374
239,114 371,948 523,773 68,775 1,203,610
(31,455) (36,674) (81,547) (9,088) (149,676)
236,087 211,418 512,912 66,740 1,027,157
Intergovernmental revenues Insurance premium tax State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
96,000 352,272 24,094 14,000 843,180 572,977 1,902,523
171,533 17,989 292,000 55,879 537,401
(96,000) (180,739) (6,105) (14,000) (551,180) (517,098) (1,365,122)
172,695 18,440 24 293,486 843,568 1,328,213
Charges for services Public Safety Nature Preserve Maintenance Sports Park Total charges for services
781,752 52,752 10,000 844,504
686,275 26,320 25,944 738,539
(95,477) (26,432) 15,944 105,965
668,825 26,033 694,858
Fines and forfeitures
184,088
154,112
(29,976)
121,626
Miscellaneous revenues Interest Parking Contributions Leases Other Total miscellaneous revenues
30,035 247,722 22,100 207,478 107,738 615,073
13,979 153,058 23,100 167,076 77,292 434,505
(16,056) (94,664) 1,000 (40,402) (30,446) (180,568)
7,845 136,064 771,000 160,034 86,336 1,161,279
Other financing sources Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
6,500 433,312 439,812 $ 10,948,386
6,902 6,902 $ 6,830,288
402 (433,312) (432,910) $ (4,118,098)
1,874
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1,874 $ 7,819,568
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget General government Legislative Personal services Operating Total Legislative
$
Actual
79,104 52,329 131,433
$
39,470 22,767 62,237
Variance Favorable (Unfavorable)
$
39,634 29,562 69,196
Prior Year Actual
$
35,225 23,348 58,573
Town Administration Personal services Operating Capital Total Town Administration
189,430 40,057 229,487
85,310 21,700 107,010
104,120 18,357 122,477
85,387 13,925 1,822 101,134
Finance Personal services Operating Capital Total Finance
266,925 94,512 9,850 371,287
127,363 53,637 7,314 188,314
139,562 40,875 2,536 182,973
112,647 56,601 1,500 170,748
Legal Counsel Operating Total Legal Counsel
165,000 165,000
52,346 52,346
112,654 112,654
53,889 53,889
54,520 45,552 5,800 105,872 1,003,079
22,110 500 22,610 432,517
32,410 45,552 5,300 83,262 570,562
19,071 500 19,571 403,915
Public Safety Administration Personal services Operating Capital Total Administration
430,400 70,122 38,657 539,179
209,819 55,535 36,409 301,763
220,581 14,587 2,248 237,416
187,622 57,393 245,015
Uniform Patrol Personal services Operating Capital Total Uniform Patrol
2,497,688 209,640 720,828 3,428,156
1,158,270 101,457 164,419 1,424,146
1,339,418 108,183 556,409 2,004,010
1,053,564 85,418 105,845 1,244,827
Non-Departmental Operating Capital Other Expenses Total Non-Departmental Total General Government
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TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives Personal services Operating Capital Total Detectives
274,605 20,558 9,500 304,663
135,871 10,532 8,995 155,398
138,734 10,026 505 149,265
118,289 7,893 126,182
Services Personal services Operating Capital Total Police Services
301,770 141,955 443,725
154,934 81,069 236,003
146,836 60,886 207,722
137,968 79,623 1,915 219,506
Uniform Patrol (Hypoluxo) Personal services Operating Capital Total Uniform Patrol (Hypoluxo)
432,480 9,390 44,498 486,368
228,542 6,020 28,692 263,254
203,938 3,370 15,806 223,114
208,115 4,272 212,387
Marine Safety Personal services Operating Capital Total Marine Safety
257,971 15,836 273,807
126,290 6,401 132,691
131,681 9,435 141,116
125,107 5,839 130,946
5,475,898
2,513,255
2,962,643
2,178,863
190,960 18,540 209,500
86,817 17,970 104,787
104,143 570 104,713
64,736 4,150 68,886
Total Public Safety Development Services Administration Personal services Operating Capital Total Administration Building Inspections Personal services Operating Capital Total Building Inspections Code Enforcement Personal services Operating Total Code Enforcement
98,710 144,869 3,200 246,779
44,304 60,326 2,926 107,556
54,406 84,543 274 139,223
40,198 68,392 1,325 109,915
179,190 19,260 198,450
89,850 7,873 97,723
89,340 11,387 100,727
79,411 6,005 85,416
Total Development Services
654,729
310,066
344,663
264,217
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TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Physical Environment Operations Administration Personal services Operating Capital Total Operations Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
198,565 20,685 15,000 234,250
102,073 10,994 3,300 116,367
96,492 9,691 11,700 117,883
84,587 4,950 1,500 91,037
579,013 1,314,952 374,806 2,268,771
277,241 568,241 84,808 930,290
301,772 746,711 289,998 1,338,481
235,071 565,306 1,428,204 2,228,581
62,398 13,762 4,500 80,660
30,766 3,879 34,645
31,632 9,883 4,500 46,015
27,113 2,201 29,314
110,716 179,560 34,776 325,052
33,099 27,455 34,629 95,183
77,617 152,105 147 229,869
-
2,908,733
1,176,485
1,732,248
2,348,932
Cultural and Recreation Library Personal services Operating Capital Total Library services
116,000 40,800 20,990 177,790
52,427 16,081 8,964 77,472
63,573 24,719 12,026 100,318
48,946 10,905 8,686 68,537
Miscellaneous Holiday events Total Miscellaneous Total Culture and Recreation
47,155 47,155 224,945
6,875 6,875 84,347
40,280 40,280 1,479,079
6,485 6,485 75,022
367,500 10,000 303,502 $ 10,948,386
153,789 4,670,459
213,711 10,000 303,502 6,277,927
214,578 5,485,527
Public Works Personal services Operating Capital Total Public Works Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Sports Park Personal services Operating Capital Total Sports Park Total Physical Environment
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
-9-
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2017 Current Year Assets and Other Debits Assets Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Intangibles Construction in progress
$
Liabilities, Equity and Other Credits Liabilities Accounts payable Notes Payable Payable from restricted assets Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
- 10 -
$
4,300 509,892 21,102,527 1,273,319 5,146 119,437 23,014,621 (14,286,612) 8,728,009
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
6,215,979 4,074,591 333,315 1,056,354 11,680,239
Prior Year
$
576,714 20,984,962
7,436,979 1,674,789 136,819 441,012 9,689,599 4,300 509,892 21,510,550 966,482 5,146 424,847 23,421,217 (14,105,136) 9,316,081
$
739,974 19,745,654
206,270 2,873,912
102,482 3,654,106
179,059 184,180 28,661 3,472,082
177,057 196,774 29,538 4,159,957
2,445,897 1,337,482 13,729,501 17,512,880
2,445,897 889,041 12,250,759 15,585,697
20,984,962
$
19,745,654
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Revenues Water sales Wastewater sales Miscellaneous Total operating revenues
$ (1,475,880) (1,343,664) (61,823) (2,881,367)
927,373 2,043,203 2,970,576
450,477 860,352 1,310,829
476,896 1,182,851 1,659,747
928,404
427,337
625,303
409,851
Debt Services Capital outlay
860,150 4,775,084 5,635,234
17,195 363,276 380,471
842,955 4,411,808 5,254,763
21,203 159,353 180,556
Total operating expenses
9,534,214
2,118,637
7,539,813
1,799,606
Administrative expenses
Operating income/(loss)
2,880,941 2,567,299 162,095 5,610,335
(3,923,879)
$
Prior YTD Actual
1,405,061 1,223,635 100,272 2,728,968
Expenditures Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
Variance Favorable (Unfavorable)
555,686
(6,799) (3,905,044)
6,718 5 -
(3,911,843)
6,723
3,905,044
Total non-operating revenues (expenses)
3,923,879
12,036
-
622,367
Net assets, beginning Net assets, ending
16,890,511 $ 17,512,880
- 11 -
393,206 815,993 1,209,199
(10,421,180)
12,036 -
Net income/(loss)
1,200,412 1,087,541 67,339 2,355,292
610,331
Non-operating revenues (expenses) Investment income Sale of assets Operating Transfers Out Use of reserves-capital carry forward
18,835 -
$
622,367
562,409 15,023,289 $ 15,585,697
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Administrative Legislative Personal services Operating Total Legislative Town Administration Personal services Operating
$
Actual
53,771 34,966 88,737
$
26,312 15,177 41,489
Variance Favorable (Unfavorable)
$
27,459 19,789 47,248
$
23,476 15,565 39,041
Total Town Administration
170,400 31,828 202,228
76,607 16,599 93,206
109,022
74,436 8,418 82,854
Finance Personal services Operating Capital Total Finance
440,635 141,185 27,535 609,355
202,143 73,124 14,676 289,943
238,492 68,061 12,859 319,412
186,406 77,124 690 264,220
39,485 39,485
9,798 9,798
29,687 29,687
17,334 17,334
16,134 111,377 127,511
7,577 7,577
8,557 111,377 119,934
7,092
1,067,316
442,013
625,303
410,541
201,790 49,761 2,000 253,551
94,185 16,816 1,820 112,821
107,605 32,945 180 140,730
87,016 10,919 97,935
62,398 12,962 75,360
30,764 3,879 34,643
31,634 9,083 40,717
27,112 5,079 32,191
Legal Operating Total Legal Non Departmental: Operating Other Expenses Total Non Departmental Total Administrative Operations Operations Administration Personal services Operating Capital Total Operations Administration Vehicle Maintenance Personal services Operating Total Vehicle Maintenance
- 12 -
93,793 15,229
Prior Year Actual
7,092
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations Total Operations Debt Services Transfers Out TOTAL EXPENDITURES
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
460,230 704,965 2,730,946 3,896,141
225,569 222,081 80,914 528,564
234,661 482,884 2,650,032 3,367,577
204,324 252,403 27,741 484,468
202,955 1,275,515 2,014,603 3,493,073
99,959 617,576 265,866 983,401
102,996 657,939 1,748,737 2,509,672
74,754 547,592 130,922 753,268
7,718,125
1,659,429
6,058,696
1,367,862
860,150 -
17,195 -
842,955 -
21,203 -
$ 9,645,591
$ 2,118,637
7,526,954
$ 1,799,606
- 13 -
$
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing March 31, 2017 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0.86%
November 0.85%
December 0.90%
January
February
March
0.99%
0.97%
1.03%
Total 0.93%
. 2,223,006
2,224,626
2,226,188
2,227,890
2,229,770
6,233,662
2,223,006
4,000,000 1,620
1,562
1,702
1,880
3,892
5,427
4,000,000 16,083
2,224,626
2,226,188
2,227,890
2,229,770
6,233,662
6,239,089
6,239,089
1,086,373
1,083,653
1,084,414
1,085,243
1,079,137
4,074,591
1,086,373
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(3,511)
(7,022)
2,992,978
791
761
829
915
2,477
3,547
2,982,445 9,320
1,083,653
1,084,414
1,085,243
1,079,137
4,074,591
4,078,138
4,078,138
661,888
665,882
666,349
666,859
674,444
681,969
661,888
7,022
7,022
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
3,511 483
467
510
563
503
594
17,555 3,120
665,882
666,349
666,859
674,444
681,969
682,563
682,563
2,895 2,895
2,790 2,790
3,041 3,041
3,358 3,358
6,872 6,872
9,568 9,568
28,523 28,523
1,620 1,274 2,895
1,562 1,228 2,790
1,702 1,339 3,041
1,880 1,478 3,358
3,892 2,980 6,872
5,427 4,141 9,568
16,083 12,440 28,523
0.04% 0.25% 22 27 2 0
0.00% 0.25% 0 13 (237)
0.05% 0.24% 1,349 1,229 41 (1,457)
(224)
1,162
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Demand Deposit Checking account (earnings credit) General Fund Utility Fund Forfeiture Fund Bank Charges (net of interest credit) Investment Earnings
0.15% 0.30% 982 900 31 (576)
0.04% 0.15% 105 102 3 (644)
0.04% 0.25% 120 94 3 0
0.04% 0.25% 120 94 3 0
1,337
(434)
217
217
51
Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Ending Balances
7,493,170 6,000,000 374,335 28,445
8,032,083 6,000,197 374,348 42,093
10,009,822 6,000,401 374,360 53,774
10,685,022 6,000,605 374,373 71,847
5,822,591 0 374,385 88,460
5,493,614 0 374,397 110,811
13,895,950
14,448,720
16,438,357
17,131,848
6,285,435
5,978,822
- 14 -
October
November
December
January
February
March
Total
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 485 341 826
Ending Balance
4,874,301
General Fund Utility Fund Forfeiture Fund
2,943 2,660 31 5,633
0.20% 463 330 792
0.20% 486 337 823
4,833,897
0.20% 487 342 829
4,918,524
0.20% 599 625 1,224
4,878,158
0.26% 949 971 1,919
8,838,186
8,923,910
4,540 3,606 2 8,148
6,398 5,102 0 11,500
0.21% 3,469 2,945 6,414
TOTAL INVESTMENT EARNINGS BY FUND
$
$
1,996 1,793 3 3,792
$
2,159 1,919 3 4,080
- 15 -
$
2,341 2,059 3 4,403
$
$
$
20,377 17,139 41 37,556
Please contact me with any questions you may have.
-2-
BUDGET-IN-BRIEF as of March 31, 2017 (50% of year elapsed)
General Fund Revenues Revenues Budget Year-to-Date Taxes 5,600,012 3,755,219 Licenses & Permits 679,191 611,062 Assessments 683,183 592,547 Intergovernmental Revenue 1,902,523 537,401 Charges for Services 834,504 712,594 Fines & Forfeitures 184,088 154,112 Misc. Revenue 631,573 467,353 Interfund Transfers Appropriations & Carryover 433,312 Total Revenues $ 10,948,386 $ 6,830,288
Other Town Funds % 67.1% 90.0% 86.7% 28.2% 85.4% 83.7% 74.0% 0.0% 0.0% 62.4%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 3,377 1,249
% 0.0% 0.0%
Grants Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 556,116 (77,664) 478,452 478,452
Year-to-Date 106,068 106,068 82,318
% 19.1% 0.0% 22.2% 17.2%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 418,750 418,750 418,750
Year-to-Date 208,999 208,999 282,878
% 49.9% N/A 49.9% 67.6%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 21,496,573 7,157,700
% 33.3%
General Fund Expenditures Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police Development Services Operations Library Town Events Capital Outlay Debt Service Interfund Transfers Contingency Total Expenditures
Budget 131,433 229,487 361,437 165,000 60,320 4,662,415 651,529 2,479,651 156,800 47,155 1,322,157 367,500 10,000 303,502 $ 10,948,386
Year-to-Date 62,238 107,011 180,999 52,346 22,610 2,274,740 307,140 1,053,747 68,507 6,875 380,455 153,789 $ 4,670,457
% 47.4% 46.6% 50.1% 31.7% 37.5% 48.8% 47.1% 42.5% 43.7% 14.6% 28.8% 41.8% 0.0% 0.0% 42.7%
Year-to-Date 2,741,004
% 48.7%
Other Town Funds
Utility Fund Revenues
Budget 5,629,170
Appropriations & Carryover
4,016,421
-
Total Revenues Total Expenses
9,645,591 9,645,591
2,741,004 2,118,635
Police Education Fund
Budget
Year-to-Date 2,126
N/A 28.4% 22.0%
%
Revenues
3,394
62.6%
Appropriations & Carryover
2,000
-
0.0%
Total Revenues
5,394
2,126
39.4%
Total Expenses
5,394
3,412
63.3%
-3-
(not including Police Forfeiture Fund)
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2017 Current Year Assets and Other Debits Assets Cash and cash equivalents Investments Accounts receivable Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits Liabilities Accounts payable Other liabilities Payable from restricted assets Accrued wages payable Deferred revenue Total liabilities Fund balances Assigned for Encumbrances Unassigned, assigned, committed Total equity and other credits Total liabilities, equity and other credits
-4-
$
6,629,988 6,233,662 2,180 7,505 413,455 439,517 13,726,307
Prior Year
$
$
9,379,163 2,214,492 (581) 11,668 265,468 499,488 12,369,698
158,632 17,750
423,379 19,704
667,744 844,126
508,865 951,948
951,118 11,931,063 12,882,181 13,726,307
848,697 10,569,053 11,417,750 12,369,698
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2017
Revenues Taxes Licenses, permits & fees Intergovernmental Charges for services Fines and forfeitures Miscellaneous Total revenues Expenditures Current General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources Sale of fixed assets Use of Fund Balance-capital carryfwd Use of Fund Balance-adopted Total other financing sources Deficiency of revenues and other financing sources under expenditures
Budget
Actual
Variance Favorable (Unfavorable)
$ 5,600,012 1,362,374 1,902,523 844,504 184,088 615,073 10,508,574
$ 3,755,219 1,203,610 537,401 738,539 154,112 434,505 6,823,386
$ (1,844,793) (158,764) (1,365,122) (105,965) (29,976) (180,568) (3,685,188)
947,677 4,662,415 651,529 2,514,427 203,955 1,287,381
425,203 2,274,740 307,140 1,088,377 75,383 345,827
522,474 2,387,675 344,389 1,426,050 128,572 941,554
400,593 2,071,103 262,892 919,228 66,336 1,550,797
367,500 303,502 10,938,386
153,789 4,670,459
213,711 303,502 6,267,927
214,578 5,485,527
2,152,927
2,582,739
2,332,167
(429,812)
$ 3,484,561 1,027,157 1,328,213 694,858 121,626 1,161,279 7,817,694
6,500 433,312 429,812
6,902 6,902
-
2,159,829
2,334,040
10,722,352 $ 12,882,181
9,083,708 $ 11,417,750
Fund balance, beginning of year FUND BALANCE, END OF PERIOD
-5-
402 (433,312) (422,910)
Prior Year Actual
1,874 1,874
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Taxes Ad Valorem taxes $ 2,761,485 Franchise taxes 1,119,273 Utility service taxes 1,215,034 209,400 Local Communications Services Tax Gasoline taxes 294,820 Local Gov't Infrastructure Tax One Cent Total taxes 5,600,012
Actual $ 2,459,619 558,624 511,365 70,083 100,705 54,823 3,755,219
Variance Favorable (Unfavorable) $
Prior Year Actual
(301,866) (560,649) (703,669) (139,317) (194,115) 54,823 (1,844,793)
$ 2,252,147 565,376 493,401 80,095 93,542 3,484,561
Licenses, permits & fees Business tax receipts Building and other permits Solid waste assessment Gas line assessment Total licenses, permits & fees
270,569 408,622 605,320 77,863 1,362,374
239,114 371,948 523,773 68,775 1,203,610
(31,455) (36,674) (81,547) (9,088) (149,676)
236,087 211,418 512,912 66,740 1,027,157
Intergovernmental revenues Insurance premium tax State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues
96,000 352,272 24,094 14,000 843,180 572,977 1,902,523
171,533 17,989 292,000 55,879 537,401
(96,000) (180,739) (6,105) (14,000) (551,180) (517,098) (1,365,122)
172,695 18,440 24 293,486 843,568 1,328,213
Charges for services Public Safety Nature Preserve Maintenance Sports Park Total charges for services
781,752 52,752 10,000 844,504
686,275 26,320 25,944 738,539
(95,477) (26,432) 15,944 105,965
668,825 26,033 694,858
Fines and forfeitures
184,088
154,112
(29,976)
121,626
Miscellaneous revenues Interest Parking Contributions Leases Other Total miscellaneous revenues
30,035 247,722 22,100 207,478 107,738 615,073
13,979 153,058 23,100 167,076 77,292 434,505
(16,056) (94,664) 1,000 (40,402) (30,446) (180,568)
7,845 136,064 771,000 160,034 86,336 1,161,279
Other financing sources Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Total other financing sources TOTAL REVENUES
6,500 433,312 439,812 $ 10,948,386
6,902 6,902 $ 6,830,288
402 (433,312) (432,910) $ (4,118,098)
1,874
-6-
1,874 $ 7,819,568
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget General government Legislative Personal services Operating Total Legislative
$
Actual
79,104 52,329 131,433
$
39,470 22,767 62,237
Variance Favorable (Unfavorable)
$
39,634 29,562 69,196
Prior Year Actual
$
35,225 23,348 58,573
Town Administration Personal services Operating Capital Total Town Administration
189,430 40,057 229,487
85,310 21,700 107,010
104,120 18,357 122,477
85,387 13,925 1,822 101,134
Finance Personal services Operating Capital Total Finance
266,925 94,512 9,850 371,287
127,363 53,637 7,314 188,314
139,562 40,875 2,536 182,973
112,647 56,601 1,500 170,748
Legal Counsel Operating Total Legal Counsel
165,000 165,000
52,346 52,346
112,654 112,654
53,889 53,889
54,520 45,552 5,800 105,872 1,003,079
22,110 500 22,610 432,517
32,410 45,552 5,300 83,262 570,562
19,071 500 19,571 403,915
Public Safety Administration Personal services Operating Capital Total Administration
430,400 70,122 38,657 539,179
209,819 55,535 36,409 301,763
220,581 14,587 2,248 237,416
187,622 57,393 245,015
Uniform Patrol Personal services Operating Capital Total Uniform Patrol
2,497,688 209,640 720,828 3,428,156
1,158,270 101,457 164,419 1,424,146
1,339,418 108,183 556,409 2,004,010
1,053,564 85,418 105,845 1,244,827
Non-Departmental Operating Capital Other Expenses Total Non-Departmental Total General Government
-7-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
Detectives Personal services Operating Capital Total Detectives
274,605 20,558 9,500 304,663
135,871 10,532 8,995 155,398
138,734 10,026 505 149,265
118,289 7,893 126,182
Services Personal services Operating Capital Total Police Services
301,770 141,955 443,725
154,934 81,069 236,003
146,836 60,886 207,722
137,968 79,623 1,915 219,506
Uniform Patrol (Hypoluxo) Personal services Operating Capital Total Uniform Patrol (Hypoluxo)
432,480 9,390 44,498 486,368
228,542 6,020 28,692 263,254
203,938 3,370 15,806 223,114
208,115 4,272 212,387
Marine Safety Personal services Operating Capital Total Marine Safety
257,971 15,836 273,807
126,290 6,401 132,691
131,681 9,435 141,116
125,107 5,839 130,946
5,475,898
2,513,255
2,962,643
2,178,863
190,960 18,540 209,500
86,817 17,970 104,787
104,143 570 104,713
64,736 4,150 68,886
Total Public Safety Development Services Administration Personal services Operating Capital Total Administration Building Inspections Personal services Operating Capital Total Building Inspections Code Enforcement Personal services Operating Total Code Enforcement
98,710 144,869 3,200 246,779
44,304 60,326 2,926 107,556
54,406 84,543 274 139,223
40,198 68,392 1,325 109,915
179,190 19,260 198,450
89,850 7,873 97,723
89,340 11,387 100,727
79,411 6,005 85,416
Total Development Services
654,729
310,066
344,663
264,217
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Physical Environment Operations Administration Personal services Operating Capital Total Operations Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
198,565 20,685 15,000 234,250
102,073 10,994 3,300 116,367
96,492 9,691 11,700 117,883
84,587 4,950 1,500 91,037
579,013 1,314,952 374,806 2,268,771
277,241 568,241 84,808 930,290
301,772 746,711 289,998 1,338,481
235,071 565,306 1,428,204 2,228,581
62,398 13,762 4,500 80,660
30,766 3,879 34,645
31,632 9,883 4,500 46,015
27,113 2,201 29,314
110,716 179,560 34,776 325,052
33,099 27,455 34,629 95,183
77,617 152,105 147 229,869
-
2,908,733
1,176,485
1,732,248
2,348,932
Cultural and Recreation Library Personal services Operating Capital Total Library services
116,000 40,800 20,990 177,790
52,427 16,081 8,964 77,472
63,573 24,719 12,026 100,318
48,946 10,905 8,686 68,537
Miscellaneous Holiday events Total Miscellaneous Total Culture and Recreation
47,155 47,155 224,945
6,875 6,875 84,347
40,280 40,280 1,479,079
6,485 6,485 75,022
367,500 10,000 303,502 $ 10,948,386
153,789 4,670,459
213,711 10,000 303,502 6,277,927
214,578 5,485,527
Public Works Personal services Operating Capital Total Public Works Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Sports Park Personal services Operating Capital Total Sports Park Total Physical Environment
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
-9-
$
$
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2017 Current Year Assets and Other Debits Assets Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Intangibles Construction in progress
$
Liabilities, Equity and Other Credits Liabilities Accounts payable Notes Payable Payable from restricted assets Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
- 10 -
$
4,300 509,892 21,102,527 1,273,319 5,146 119,437 23,014,621 (14,286,612) 8,728,009
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
6,215,979 4,074,591 333,315 1,056,354 11,680,239
Prior Year
$
576,714 20,984,962
7,436,979 1,674,789 136,819 441,012 9,689,599 4,300 509,892 21,510,550 966,482 5,146 424,847 23,421,217 (14,105,136) 9,316,081
$
739,974 19,745,654
206,270 2,873,912
102,482 3,654,106
179,059 184,180 28,661 3,472,082
177,057 196,774 29,538 4,159,957
2,445,897 1,337,482 13,729,501 17,512,880
2,445,897 889,041 12,250,759 15,585,697
20,984,962
$
19,745,654
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Revenues Water sales Wastewater sales Miscellaneous Total operating revenues
$ (1,475,880) (1,343,664) (61,823) (2,881,367)
927,373 2,043,203 2,970,576
450,477 860,352 1,310,829
476,896 1,182,851 1,659,747
928,404
427,337
625,303
409,851
Debt Services Capital outlay
860,150 4,775,084 5,635,234
17,195 363,276 380,471
842,955 4,411,808 5,254,763
21,203 159,353 180,556
Total operating expenses
9,534,214
2,118,637
7,539,813
1,799,606
Administrative expenses
Operating income/(loss)
2,880,941 2,567,299 162,095 5,610,335
(3,923,879)
$
Prior YTD Actual
1,405,061 1,223,635 100,272 2,728,968
Expenditures Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
Variance Favorable (Unfavorable)
555,686
(6,799) (3,905,044)
6,718 5 -
(3,911,843)
6,723
3,905,044
Total non-operating revenues (expenses)
3,923,879
12,036
-
622,367
Net assets, beginning Net assets, ending
16,890,511 $ 17,512,880
- 11 -
393,206 815,993 1,209,199
(10,421,180)
12,036 -
Net income/(loss)
1,200,412 1,087,541 67,339 2,355,292
610,331
Non-operating revenues (expenses) Investment income Sale of assets Operating Transfers Out Use of reserves-capital carry forward
18,835 -
$
622,367
562,409 15,023,289 $ 15,585,697
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Administrative Legislative Personal services Operating Total Legislative Town Administration Personal services Operating
$
Actual
53,771 34,966 88,737
$
26,312 15,177 41,489
Variance Favorable (Unfavorable)
$
27,459 19,789 47,248
$
23,476 15,565 39,041
Total Town Administration
170,400 31,828 202,228
76,607 16,599 93,206
109,022
74,436 8,418 82,854
Finance Personal services Operating Capital Total Finance
440,635 141,185 27,535 609,355
202,143 73,124 14,676 289,943
238,492 68,061 12,859 319,412
186,406 77,124 690 264,220
39,485 39,485
9,798 9,798
29,687 29,687
17,334 17,334
16,134 111,377 127,511
7,577 7,577
8,557 111,377 119,934
7,092
1,067,316
442,013
625,303
410,541
201,790 49,761 2,000 253,551
94,185 16,816 1,820 112,821
107,605 32,945 180 140,730
87,016 10,919 97,935
62,398 12,962 75,360
30,764 3,879 34,643
31,634 9,083 40,717
27,112 5,079 32,191
Legal Operating Total Legal Non Departmental: Operating Other Expenses Total Non Departmental Total Administrative Operations Operations Administration Personal services Operating Capital Total Operations Administration Vehicle Maintenance Personal services Operating Total Vehicle Maintenance
- 12 -
93,793 15,229
Prior Year Actual
7,092
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2017
Budget Water/water plant operations Personal services Operating Capital Total Water/water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations Total Operations Debt Services Transfers Out TOTAL EXPENDITURES
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
460,230 704,965 2,730,946 3,896,141
225,569 222,081 80,914 528,564
234,661 482,884 2,650,032 3,367,577
204,324 252,403 27,741 484,468
202,955 1,275,515 2,014,603 3,493,073
99,959 617,576 265,866 983,401
102,996 657,939 1,748,737 2,509,672
74,754 547,592 130,922 753,268
7,718,125
1,659,429
6,058,696
1,367,862
860,150 -
17,195 -
842,955 -
21,203 -
$ 9,645,591
$ 2,118,637
7,526,954
$ 1,799,606
- 13 -
$
TOWN OF LANTANA, FLORIDA Investment Earnings Quarter Closing March 31, 2017 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) October SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0.86%
November 0.85%
December 0.90%
January
February
March
0.99%
0.97%
1.03%
Total 0.93%
. 2,223,006
2,224,626
2,226,188
2,227,890
2,229,770
6,233,662
2,223,006
4,000,000 1,620
1,562
1,702
1,880
3,892
5,427
4,000,000 16,083
2,224,626
2,226,188
2,227,890
2,229,770
6,233,662
6,239,089
6,239,089
1,086,373
1,083,653
1,084,414
1,085,243
1,079,137
4,074,591
1,086,373
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(3,511)
(7,022)
2,992,978
791
761
829
915
2,477
3,547
2,982,445 9,320
1,083,653
1,084,414
1,085,243
1,079,137
4,074,591
4,078,138
4,078,138
661,888
665,882
666,349
666,859
674,444
681,969
661,888
7,022
7,022
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
3,511 483
467
510
563
503
594
17,555 3,120
665,882
666,349
666,859
674,444
681,969
682,563
682,563
2,895 2,895
2,790 2,790
3,041 3,041
3,358 3,358
6,872 6,872
9,568 9,568
28,523 28,523
1,620 1,274 2,895
1,562 1,228 2,790
1,702 1,339 3,041
1,880 1,478 3,358
3,892 2,980 6,872
5,427 4,141 9,568
16,083 12,440 28,523
0.04% 0.25% 22 27 2 0
0.00% 0.25% 0 13 (237)
0.05% 0.24% 1,349 1,229 41 (1,457)
(224)
1,162
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Demand Deposit Checking account (earnings credit) General Fund Utility Fund Forfeiture Fund Bank Charges (net of interest credit) Investment Earnings
0.15% 0.30% 982 900 31 (576)
0.04% 0.15% 105 102 3 (644)
0.04% 0.25% 120 94 3 0
0.04% 0.25% 120 94 3 0
1,337
(434)
217
217
51
Ending Account Balances per Statement Operating Demand Deposit Water Plant Reserve Payment Card Receipts Ending Balances
7,493,170 6,000,000 374,335 28,445
8,032,083 6,000,197 374,348 42,093
10,009,822 6,000,401 374,360 53,774
10,685,022 6,000,605 374,373 71,847
5,822,591 0 374,385 88,460
5,493,614 0 374,397 110,811
13,895,950
14,448,720
16,438,357
17,131,848
6,285,435
5,978,822
- 14 -
October
November
December
January
February
March
Total
TD BANK ACCOUNT TD Bank Rate Investment Earnings (Utility Fund) Investment Earnings (General Fund) Investment Earnings
0.20% 485 341 826
Ending Balance
4,874,301
General Fund Utility Fund Forfeiture Fund
2,943 2,660 31 5,633
0.20% 463 330 792
0.20% 486 337 823
4,833,897
0.20% 487 342 829
4,918,524
0.20% 599 625 1,224
4,878,158
0.26% 949 971 1,919
8,838,186
8,923,910
4,540 3,606 2 8,148
6,398 5,102 0 11,500
0.21% 3,469 2,945 6,414
TOTAL INVESTMENT EARNINGS BY FUND
$
$
1,996 1,793 3 3,792
$
2,159 1,919 3 4,080
- 15 -
$
2,341 2,059 3 4,403
$
$
$
20,377 17,139 41 37,556
