Sept FY08 fs-GF AWS
MEMORANDUM Finance Department approximately one month of accrued revenue to be applied back to FY08 estimated at $242,000. 2. Total operating expenditures not including capital or debt are 2% or $82,500 lower than the same period last year. No one area is directly related for the reduction, rather all departments have slowed spending to offset the revenue reduction.
TRANSPORTATION FUND 1. Total operating revenues for the period are down $31,000 compared to the same period last year. This is due to the reduction in gas tax revenue. Taxes are assessed by the gallon, not the percentage of the purchase. As demand for fuel is reduced during the current economic situation, gas tax revenue reduces in line with demand. 2. Operating expenditures have increased by $3,211 or 2%. Streets and sidewalk maintenance was reduced, while professional services increase by a similar amount.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates. As you can see in this report, we removed all funds from the Florida League of Cities’ municipal trust accounts due to the volatility of the market. We may decide as the market calms to reinvest in their product. 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 program whereby our funds are guaranteed 100% above the $100k insured by the FDIC.
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.
Page 2 of 21
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 September, we had $465,037.74 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 $463,042.18 which is not liquid and is not available for withdrawal. Unfortunately, this pool reported an unrealized loss of $95,135 at the end 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.
Page 3 of 21
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited using cash basis) September 30, 2008 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
$
Page 4 of 21
6,614,895 4,300,783 36,887 11,561 2,182 64,368 11,030,676
Prior Year
$
$
(403,415) 10,575,612 42,112 11,621 9,409 227 10,235,566
141,986 26,561
98,288 11,409
118,883 246,775 534,205
87,570 279,226 476,493
-
-
10,496,471 10,496,471 11,030,676
9,759,073 9,759,073 10,235,566
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Actual
Budget 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
$ 8,625,550 394,000 1,278,460 1,392,490 227,300 725,598 21,630 12,665,028
$
8,420,526 397,414 1,098,559 1,359,863 218,358 813,695 12,308,415
(334,983)
$ 8,772,497 414,228 1,093,414 1,304,688 121,868 1,029,362 12,736,057
248,102 157,865 4,175 62,452 248,859 791,970
613,365 6,882,707 702,722 1,178,980 1,681,119 592,264
206,950 13,077,243
206,324 11,563,194
626 1,514,049
206,324 11,857,481
1,157,436
878,576
745,221
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
31,325 7,018 (566,528) 940,400 412,215
31,325 7,018 (566,528) (528,185)
FUND BALANCE, END OF PERIOD
(205,024) 3,414 (179,901) (32,627) (8,942) 88,097
630,285 7,127,345 794,465 953,418 1,604,531 246,826
(412,215)
Fund balance, beginning of year
$
Prior Year Actual
878,387 7,285,210 798,640 1,015,870 1,853,390 1,038,796
Deficiency of revenues under expenditures
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
(940,400) (940,400)
30,626 (325,000) (294,374)
217,036
584,202
10,279,435 $ 10,496,471
9,174,871 $ 9,759,073
Page 5 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget
Actual
$ 6,496,550 689,000 940,000 500,000 8,625,550
$ 6,575,097 641,119 857,512 346,798 8,420,526
213,500 180,500 394,000
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) 78,547 (47,881) (82,488) (153,202) (205,024)
$ 6,851,101 643,869 864,100 413,427 8,772,497
230,932 166,482 397,414
17,432 (14,018) 3,414
224,872 189,356 414,228
109,960 365,000 25,000 12,000 745,000 21,500 1,278,460
109,961 323,426 26,072 9,067 592,462 37,571 1,098,559
1 (41,574) 1,072 (2,933) (152,538) 16,071 (179,901)
100,230 348,052 25,450 13,288 654,760 (48,366) 1,093,414
730,000 98,000 518,890 45,600 1,392,490
688,754 92,838 532,295 45,976 1,359,863
(41,246) (5,162) 13,405 376 32,627
699,287 92,777 467,872 44,752 1,304,688
Fines and forfeitures
227,300
218,358
(8,942)
121,868
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
375,000 155,000 34,028 127,620 14,950 19,000 725,598
418,700 192,823 36,019 129,878 14,954 21,321 813,695
43,700 37,823 1,991 2,258 4 2,321 88,097
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
31,325 7,018 940,400 21,630 1,000,373 $ 13,643,771
31,325 7,018 38,343 $ 12,346,758
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Page 6 of 21
$
Prior Year Actual
(940,400) (21,630) (962,030) $ (1,297,013)
568,776 225,754 33,270 126,895 14,954 59,713 1,029,362 30,626 30,626 $ 12,766,683
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget General government: Legislative: Personal services Operating Total Legislative
$
71,820 12,700 84,520
Actual
$
72,392 6,241 78,633
Variance Favorable (Unfavorable)
$
(572) 6,459 5,887
Prior Year Actual
$
57,579 7,607 65,186
Executive: Personal services Operating Capital Total Executive
89,630 22,540 95,660 207,830
85,946 19,231 8,253 113,430
3,684 3,309 87,407 94,400
77,136 20,270 28,633 126,039
Town Clerk: Personal services Operating Capital Total Town Clerk
51,640 15,337 9,993 76,970
51,597 16,658 9,993 78,248
43 (1,321) (1,278)
49,414 12,915 384 62,713
Financial Administration: Personal services Operating Capital Total Financial Administration
208,740 90,820 33,910 333,470
198,717 69,827 10,673 279,217
10,023 20,993 23,237 54,253
188,131 78,623 21,026 287,780
Legal Counsel: Personal services Operating Total Legal Counsel
10,620 90,000 100,620
11,857 79,599 91,456
(1,237) 10,401 9,164
9,129 70,767 79,896
2,250 212,290 67,980 282,520 1,085,930
18,220 14,305 32,525 673,509
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
Page 7 of 21
2,250 194,070 53,675 249,995 412,421
3,375 38,419 74,854 116,648 738,262
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Public Safety: Administration: Personal services Operating Capital Total Administration Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol Detectives: Personal services Operating Capital Total Detectives Services: Personal services Operating Capital Total Police Services Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
317,430 73,000 390,430
314,065 68,288 382,353
3,365 4,712 8,077
410,176 62,749 472,925
2,520,440 189,320 116,278 2,826,038
2,462,492 198,776 97,014 2,758,282
57,948 (9,456) 19,264 67,756
2,164,540 195,463 88,433 2,448,436
-
-
-
221,284 33,719 255,003
613,410 146,620 507,765 1,267,795
554,709 140,736 18,150 713,595
58,701 5,884 489,615 554,200
370,999 113,738 7,750 492,487
335,790 19,800 355,590
316,023 20,164 336,187
3,069,400
3,052,092
17,308
3,000,563
7,909,253
7,242,509
666,744
6,978,890
Page 8 of 21
19,767 (364) 19,403
295,641 13,835 309,476
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Development Services: Administration : Personal services Operating Capital Total Administration Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement Total Development Services Physical Environment: Public Works Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
159,340 91,580 250,920
159,289 95,417 254,706
51 (3,837) (3,786)
152,618 70,086 1,183 223,887
257,210 92,660 8,200 358,070
227,858 110,562 7,315 345,735
29,352 (17,902) 885 12,335
208,976 86,472 295,448
181,720 16,130 197,850
181,842 19,497 201,339
(122) (3,367) (3,489)
170,162 14,408 184,570
806,840
801,780
5,060
703,905
79,480 17,370 96,850
77,786 13,887 91,673
1,694 3,483 5,177
27,857 11,599 98,749 138,205
72,850 16,570 89,420
71,992 9,997 81,989
858 6,573 7,431
68,091 9,905 26,603 104,599
Page 9 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
265,470 104,250 369,720
253,300 72,845 326,145
12,170 31,405 43,575
246,397 80,339 153,352 480,088
265,260 98,680 363,940
267,625 85,555 353,180
(2,365) 13,125 10,760
298,274 83,921 105,867 488,062
81,020 14,920 95,940
77,924 22,507 100,431
3,096 (7,587) (4,491)
77,632 15,746 93,378
1,015,870
953,418
62,452
1,304,332
175,900 112,720 9,000 122,500 420,120
170,299 75,143 121,957 367,399
5,601 37,577 9,000 543 52,721
254,799 102,286 974 121,957 480,016
Library: Personal services Operating Capital Total library Services
126,740 43,530 27,700 197,970
128,843 43,549 22,376 194,768
(2,103) (19) 5,324 3,202
123,231 44,163 40,198 207,592
Marine Services: Personal services Operating Capital Total Marine Services
352,650 23,210 375,860
375,432 20,190 395,622
(22,782) 3,020 (19,762)
331,058 23,611 18,387 373,056
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
209,450 410,040 104,580 724,070
187,161 246,845 58,152 492,158
22,289 163,195 46,428 231,912
190,847 234,878 128,407 554,132
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
Page 10 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
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
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
180,210 131,940 57,730 369,880
167,258 117,377 595 285,230
12,952 14,563 57,135 84,650
175,938 129,145 56,683 361,766
87,000 87,000 2,174,900
72,434 72,434 1,807,611
14,566 14,566 367,289
71,163 71,163 2,047,725
84,450 566,528 $ 13,643,771
84,367 566,528 $ 12,129,722
83 1,514,049
84,367 325,000 $ 12,182,481
Page 11 of 21
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited using cash basis) September 30, 2008 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
6,087,831 410,048 137,724 453,951 7,089,554
Prior Year
$
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
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: Reserved for encumbrances Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
$
Page 12 of 21
1,933,150 20,619,481
112,534 4,611,768 156,975 1,322,098 343 6,203,718 4,300 942,809 19,270,967 1,064,932 21,283,008 (9,008,785) 12,274,223
$
1,429,970 19,907,911
445,815 2,927,389 517,493
317,188 3,168,654 -
154,301 150,689 6,785,000 10,980,687
196,285 147,827 7,125,000 10,954,954
2,445,897 1,614,406 5,578,491 9,638,794
2,445,897 1,614,405 4,892,655 8,952,957
20,619,481
$
19,907,911
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,320,000 2,300,000 123,300 4,743,300
$
2,067,603 2,181,363 123,361 4,372,327
Variance Favorable (Unfavorable) $
(252,397) (118,637) 61 (370,973)
Prior YTD Actual $
871,260 1,716,130 2,587,390
907,136 1,490,189 2,397,325
920,750
824,854
95,896
842,276
Debt Services Capital outlay
1,047,500 805,257 1,852,757
812,465 268,719 1,081,184
235,035 536,538 771,573
821,734 183,491 1,005,225
Total operating expenses
5,360,897
4,303,363
1,057,534
4,309,882
Administrative expenses
Operating income
-35,876 225,941 190,065
2,274,733 2,259,329 158,922 4,692,984
923,690 1,538,691 2,462,381
(617,597)
68,964
(1,428,507)
383,102
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
250,000 (10,140) 377,737
160,700 27,375 -
(89,300) 27,375 10,140 (377,737)
290,881 800 -
Total non-operating revenues (expenses)
617,597
188,075
(429,522)
291,681
-
257,039
257,039
674,783
Net Income Net assets, beginning Net assets, ending
$
Page 13 of 21
9,381,755 9,638,794
$
8,278,174 8,952,957
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
47,850 9,300 57,150
Actual
$
48,265 3,945 52,210
Variance Favorable (Unfavorable)
$
(415) 5,355 4,940
$
38,383 5,106 43,489
133,550 28,380 161,930
126,102 23,459 149,561
Town Clerk: Personal services Operating
34,460 10,130
34,393 10,321
67 (191)
32,937 8,598
Total Town Clerk
44,590
44,714
(124)
41,535
433,520 159,610 21,480 614,610
417,959 127,014 1,519 546,492
2,720 25,000 27,720
3,029 18,567 21,596
(309) 6,433 6,124
2,332 18,571 20,903
2,250 12,500 14,750
10,281 10,281
2,250 2,219 4,469
3,375 57,871 61,246
920,750
824,854
95,896
842,276
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
Page 14 of 21
7,448 4,921 -
Prior Year Actual
12,369
15,561 32,596 19,961 68,118
115,095 24,616 3,400 143,111
375,379 141,728 14,885 531,992
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Operations Public Works Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
79,480 17,370 96,850
77,788 13,605 91,393
1,692 3,765 5,457
118,863 23,041 141,904
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
89,780 60,430 150,210
80,229 53,159 133,388
9,551 7,271 16,822
81,801 55,505 137,306
Building Maintenance Personal services Operating Total Building Maintenance
77,220 56,500 133,720
71,704 49,198 120,902
5,516 7,302 12,818
75,406 50,065 125,471
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance
72,850 16,570 8,000 97,420
72,000 10,947 7,565 90,512
850 5,623 435 6,908
68,089 10,238 78,327
345,300 475,600 479,807 1,300,707
402,335 461,959 35,336 899,630
206,630 1,089,660 317,450 1,613,740
203,080 901,321 225,818 1,330,219
3,550 188,339 91,632 283,521
208,625 891,034 79,852 1,179,511
Total operations
3,392,647
2,666,044
726,603
2,645,872
Debt Services Contingency
1,047,500 10,140
812,465 -
235,035 10,140
821,734 -
$ 5,371,037
$ 4,303,363
1,067,674
$ 4,309,882
Total Public Works Administration
Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
Page 15 of 21
(57,035) 13,641 444,471 401,077
$
370,906 508,808 103,639 983,353
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited using cash basis) September 30, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
815,357 37,439 852,796
Prior Year
$
123,296 421,135 544,431
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
14,004 14,004
10,100 10,100
Fund balances: Unreserved: Reserved for encumbrances Designated for capital improvements Undesignated Total Equity
838,792 838,792
534,331 534,331
Total Liabilities and Equity
$
Page 16 of 21
852,796
$
544,431
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Transfers In Total Revenues
$
280,000 8,000 32,100 566,528
$
228,723 12,405 566,528
$
(51,277) 4,405 -
$
259,797 14,324 325,000
886,628
807,656
(46,872)
599,121
34,300 115,000 5,600 2,350 250 22,570 1,500 550 182,120
27,953 109,175 3,548 1,115 180 16,989 2,744 260 161,964
6,347 5,825 2,052 1,235 70 5,581 (1,244) 290 20,156
105,049 3,548 8,073 259 39,644 2,022 158 158,753
85,580 308,500 394,080
75,494 307,578 383,072
10,086 922 11,008
77,890 307,578 385,468
310,428
-
310,428
-
886,628
545,036
355,401
544,221
-
262,620
262,620
54,900
Expenditures: Other 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
576,172 $
Page 17 of 21
838,792
479,431 $
534,331
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing September 30, 2008 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
October
November
December
January
February
March
April
May
June
July
August
September
Total
5.62%
0.00%
4.81%
4.62%
3.68%
3.07%
2.74%
2.49%
2.43%
2.44%
2.47%
2.43%
3.27%
5,590,279
5,266,586
4,466,586
2,475,694
(2,000,000)
(1,849,191)
(350,000) (70) 26,377
(800,000) -
630,444 -
630,823
393,810
(237,262)
-
393,842 -
9,108
3,941
379
249
(1) 34
393,914
394,082
394,467
394,866
-
-
-
-
(1) 71
(1) 169
(1) 387
(1) 400
(1) 387
5,590,279 (5,236,453) (76) 41,501
5,266,586
4,466,586
2,475,694
630,444
630,823
393,810
393,842
393,913
394,082
394,467
394,866
395,252
395,251
4,611,768
4,633,782
4,633,782
2,644,805
654,207
654,601
408,551
408,585
408,659
408,833
409,234
409,647
4,611,768
(2,000,000) 11,023
(1,994,851) 4,252
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(59) 22,072
-
394
(246,308) 258
-
-
-
-
-
(1) 35
(1) 75
(1) 175
(1) 402
(1) 414
(1) 402
(4,241,158) (65) 39,502
4,633,782
4,633,782
2,644,805
654,207
654,601
408,551
408,585
408,659
408,833
409,234
409,647
410,048
410,048
171,516
172,335
172,335
24,997
24,173
24,187
15,194
15,195
15,196
15,202
15,216
15,230
171,516
-
(9,003) 9
-
-
-
-
-
-
(157,372) (8) 1,108
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(2) 821
-
(147,546) 208
(824) 0
14
(1) 1
(1) 3
(1) 7
(1) 15
(1) 15
(1) 15
172,335
172,335
24,997
24,173
24,187
15,194
15,195
15,196
15,202
15,216
15,230
15,244
15,244
687,557
690,839
690,839
100,204
96,902
96,959
60,909
60,913
60,923
60,948
61,007
61,068
687,557
(36,087) 38
-
-
-
-
-
-
(630,858) (15) 4,442
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(9) 3,291
-
(591,466) 832
(3,304) 2
57
(1) 5
(1) 11
(1) 26
(1) 60
(1) 62
(1) 59
690,839
690,839
100,204
96,902
96,959
60,909
60,913
60,923
60,948
61,007
61,068
61,126
61,126
100,943
101,425
101,425
14,711
14,227
14,235
8,942
8,942
8,943
8,946
8,953
8,961
100,943
-
(5,298)
-
-
-
-
-
-
(92,619) (7) 652
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 483 101,425
101,425
(86,836) 122 14,711
(485) 0 14,227
8
6
14,235
8,942
Page 18 of 21
(1) 1 8,942
(1) 2 8,943
(1) 4 8,946
(1) 9 8,953
(1) 9 8,961
(1) 9 8,969
8,969
October
November
December
January
February
March
April
May
June
July
August
September
Total
Bond Fund Beginning Bal.
421,135
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(5) 2,016 423,145
423,145
423,145
61,376
59,353
59,388
37,307
37,309
37,315
37,330
37,366
37,403
421,135
(362,278) 509
(2,024) 1
-
(22,104) 23
-
-
-
-
-
-
(386,406) (11) 2,720
61,376
59,353
59,388
37,307
37,309
-
21,802 21,802
8,197 8,197
887 887
583 583
79 (6) 73
169 (6) 163
-
9,108 12,185 509 21,802
3,941 4,255 1 8,197
379 473 35 887
249 311 23 583
33 38 2 73
70 87 6 163
423,145
35
(1) 3
(1) 7 37,315
(1) 16
(1) 37
(1) 38
(1) 36
37,330
37,366
37,403
37,438
37,438
396.38 (6) 390
908.06 (6) 902
938.09 (6) 932
907.77 (6) 902
89,927 (182) 89,745
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
55,059 (146) 54,913
Investment Earnings Net of Admin. Charges General Fund 26,307 Utility Fund 26,596 Transportation Fund 2,010 54,913
168 208 15 390
386 481 36 902
399 496 37 932
386 481 35 902
41,425 45,610 2,709 89,745
FLORIDA LEAGUE OF CITIES, INC. - FLORIDA MUNICIPAL INVESTMENT TRUST FMIT Short-Term (General Fund) Investment Rate (formula) Beginning Bal.
5.60% 823,751
Transfers In (Out) Investment Earnings Ending Bal.
12.72% 827,598
5.84% 836,368
11.74% 840,438
0.00% 95,663
(753,000) 8,225
(95,663)
-
3,847
8,771
4,069
827,598
836,368
840,438
95,663
22.87% 403,295
4.80% 410,981
25.98% 412,623
N/A
N/A
-
N/A
-
N/A
-
N/A
-
N/A
N/A
-
-
-
823,751
-
-
-
(848,663) 24,912
-
-
-
(0)
FMIT Intermediate-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earning
8.35% 400,509
0.00% 421,557
N/A
N/A
N/A
N/A
N/A
(421,557)
N/A
N/A
-
-
-
400,509
-
-
-
(421,557) 21,048
2,786
7,686
1,643
8,934
403,295
410,981
412,623
421,557
-
-
-
-
-
-
-
-
-
6,633
16,457
5,711.96
17,159
-
-
-
-
-
-
-
-
45,960
STERLING BANK MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earning
4.52% 3,761,074
4.52% 3,776,481
4.27% 3,790,542
4.07% 3,804,919
3.82% 3,818,558
3.32% 3,830,243
3.32% 3,841,953
3.32% 3,852,450
3.31% 3,862,962
3.25% 3,873,669
3.25% 3,884,375
3.25% 3,894,418
3.83% 3,761,074
15,407
14,061
14,377
13,639
11,685
11,710
10,498
10,511
10,707
10,707
10,043
11,112
144,456
3,776,481
3,790,542
3,804,919
3,818,558
3,830,243
3,841,953
3,852,450
3,862,962
3,873,669
3,884,375
3,894,418
3,905,530
3,905,530
15,407
14,061
14,377
13,639
11,685
11,710
10,498
10,511
10,707
10,707
10,043
11,112
144,456
Page 19 of 21
October
November
December
January
February
March
April
May
June
July
August
September
Total
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTr General Fund Utility Fund Transportation Fund Other Funds Bank Charges Investment Earnings
4.610% 0 1,458 434 1,086 (1,002)
2.930% 1,532 1,386 109 71 (992)
2.930% 14,997 10,500 759 512 (883)
3.940% 23,919 15,211 1,083 765 (1,095)
3.080% 20,883 13,595 1,024 681 (1,452)
2.710% 19,121 14,393 1,056 714 (1,103)
2.010% 13,544 10,354 515 477 (785)
1.790% 12,395 9,459 505 430 (975)
1.750% 11,670 9,100 440 396 (906)
1.790% 10,826 10,434 1,326 446 (944)
1.770% 9,985 10,284 1,298 460 (1,003)
1.620% 9,310 8,913 1,148 415 (929)
2.86% 148,183 115,088 9,695 6,454 (12,069)
1,976
2,105
25,886
39,882
34,732
34,180
24,106
21,815
20,700
22,089
21,024
18,857
267,351
Checking Account Ending Balances per Statement Operating Water Plant Reserve
523,639 362,706
1,194,927 364,397
10,536,711 365,010
14,769,235 365,611
14,937,975 366,054
15,527,129 366,484
15,032,071 366,857
15,050,372 367,212
15,092,612 367,556
14,726,844.24 367,910.71
14,657,553.41 368,266.12
14,404,391.89 368,610.39
146,453,460 4,396,674
Ending Balances
886,345
1,559,324
10,901,722
15,134,846
15,304,028
15,893,613
15,398,928
15,417,584
15,460,167
15,094,754.95
15,025,819.53
14,773,002.28
150,850,134
48,347 28,054 2,444 1,086 79,931
32,050 1,386 109 71 33,616
44,194 22,685 1,269 512 68,660
58,658 19,467 1,084 765 79,973
22,544.62 9,307.50 455.04 396 $ 32,703
11,211.72 10,915.27 1,361.76 446 23,935
10,384.03 10,780.59 1,334.56 460 22,959
9,696.03 9,394.03 1,182.28 415 20,687
348,163 160,698 12,404 6,454 527,720
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Other Funds $
$
$
$
$
32,948 14,069 1,059 681 48,756
$
31,079 14,704 1,079 714 47,576
$
Page 20 of 21
24,074 10,392 517.41 477 35,461
$
22,977 9,546 510.66 430 33,464
$
$
$
$
INVESTMENT EARNINGS $80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$0 Oct
Nov
Dec
Jan
Feb
Mar
General Fund Transportation Fund
Page 21 of 21
Apr
May
Utility Fund Other Funds
Jun
Jul
Aug
Sep
TRANSPORTATION FUND 1. Total operating revenues for the period are down $31,000 compared to the same period last year. This is due to the reduction in gas tax revenue. Taxes are assessed by the gallon, not the percentage of the purchase. As demand for fuel is reduced during the current economic situation, gas tax revenue reduces in line with demand. 2. Operating expenditures have increased by $3,211 or 2%. Streets and sidewalk maintenance was reduced, while professional services increase by a similar amount.
INVESTMENT REPORT Income from investments continues to decrease as the market mirrors the Fed’s action of reducing interest rates. As you can see in this report, we removed all funds from the Florida League of Cities’ municipal trust accounts due to the volatility of the market. We may decide as the market calms to reinvest in their product. 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 program whereby our funds are guaranteed 100% above the $100k insured by the FDIC.
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.
Page 2 of 21
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 September, we had $465,037.74 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 $463,042.18 which is not liquid and is not available for withdrawal. Unfortunately, this pool reported an unrealized loss of $95,135 at the end 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.
Page 3 of 21
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited using cash basis) September 30, 2008 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
$
Page 4 of 21
6,614,895 4,300,783 36,887 11,561 2,182 64,368 11,030,676
Prior Year
$
$
(403,415) 10,575,612 42,112 11,621 9,409 227 10,235,566
141,986 26,561
98,288 11,409
118,883 246,775 534,205
87,570 279,226 476,493
-
-
10,496,471 10,496,471 11,030,676
9,759,073 9,759,073 10,235,566
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Actual
Budget 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
$ 8,625,550 394,000 1,278,460 1,392,490 227,300 725,598 21,630 12,665,028
$
8,420,526 397,414 1,098,559 1,359,863 218,358 813,695 12,308,415
(334,983)
$ 8,772,497 414,228 1,093,414 1,304,688 121,868 1,029,362 12,736,057
248,102 157,865 4,175 62,452 248,859 791,970
613,365 6,882,707 702,722 1,178,980 1,681,119 592,264
206,950 13,077,243
206,324 11,563,194
626 1,514,049
206,324 11,857,481
1,157,436
878,576
745,221
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
31,325 7,018 (566,528) 940,400 412,215
31,325 7,018 (566,528) (528,185)
FUND BALANCE, END OF PERIOD
(205,024) 3,414 (179,901) (32,627) (8,942) 88,097
630,285 7,127,345 794,465 953,418 1,604,531 246,826
(412,215)
Fund balance, beginning of year
$
Prior Year Actual
878,387 7,285,210 798,640 1,015,870 1,853,390 1,038,796
Deficiency of revenues under expenditures
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
(940,400) (940,400)
30,626 (325,000) (294,374)
217,036
584,202
10,279,435 $ 10,496,471
9,174,871 $ 9,759,073
Page 5 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget
Actual
$ 6,496,550 689,000 940,000 500,000 8,625,550
$ 6,575,097 641,119 857,512 346,798 8,420,526
213,500 180,500 394,000
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) 78,547 (47,881) (82,488) (153,202) (205,024)
$ 6,851,101 643,869 864,100 413,427 8,772,497
230,932 166,482 397,414
17,432 (14,018) 3,414
224,872 189,356 414,228
109,960 365,000 25,000 12,000 745,000 21,500 1,278,460
109,961 323,426 26,072 9,067 592,462 37,571 1,098,559
1 (41,574) 1,072 (2,933) (152,538) 16,071 (179,901)
100,230 348,052 25,450 13,288 654,760 (48,366) 1,093,414
730,000 98,000 518,890 45,600 1,392,490
688,754 92,838 532,295 45,976 1,359,863
(41,246) (5,162) 13,405 376 32,627
699,287 92,777 467,872 44,752 1,304,688
Fines and forfeitures
227,300
218,358
(8,942)
121,868
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
375,000 155,000 34,028 127,620 14,950 19,000 725,598
418,700 192,823 36,019 129,878 14,954 21,321 813,695
43,700 37,823 1,991 2,258 4 2,321 88,097
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
31,325 7,018 940,400 21,630 1,000,373 $ 13,643,771
31,325 7,018 38,343 $ 12,346,758
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Page 6 of 21
$
Prior Year Actual
(940,400) (21,630) (962,030) $ (1,297,013)
568,776 225,754 33,270 126,895 14,954 59,713 1,029,362 30,626 30,626 $ 12,766,683
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget General government: Legislative: Personal services Operating Total Legislative
$
71,820 12,700 84,520
Actual
$
72,392 6,241 78,633
Variance Favorable (Unfavorable)
$
(572) 6,459 5,887
Prior Year Actual
$
57,579 7,607 65,186
Executive: Personal services Operating Capital Total Executive
89,630 22,540 95,660 207,830
85,946 19,231 8,253 113,430
3,684 3,309 87,407 94,400
77,136 20,270 28,633 126,039
Town Clerk: Personal services Operating Capital Total Town Clerk
51,640 15,337 9,993 76,970
51,597 16,658 9,993 78,248
43 (1,321) (1,278)
49,414 12,915 384 62,713
Financial Administration: Personal services Operating Capital Total Financial Administration
208,740 90,820 33,910 333,470
198,717 69,827 10,673 279,217
10,023 20,993 23,237 54,253
188,131 78,623 21,026 287,780
Legal Counsel: Personal services Operating Total Legal Counsel
10,620 90,000 100,620
11,857 79,599 91,456
(1,237) 10,401 9,164
9,129 70,767 79,896
2,250 212,290 67,980 282,520 1,085,930
18,220 14,305 32,525 673,509
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
Page 7 of 21
2,250 194,070 53,675 249,995 412,421
3,375 38,419 74,854 116,648 738,262
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Public Safety: Administration: Personal services Operating Capital Total Administration Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol Detectives: Personal services Operating Capital Total Detectives Services: Personal services Operating Capital Total Police Services Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services Fire Control: Operating Total Public Safety
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
317,430 73,000 390,430
314,065 68,288 382,353
3,365 4,712 8,077
410,176 62,749 472,925
2,520,440 189,320 116,278 2,826,038
2,462,492 198,776 97,014 2,758,282
57,948 (9,456) 19,264 67,756
2,164,540 195,463 88,433 2,448,436
-
-
-
221,284 33,719 255,003
613,410 146,620 507,765 1,267,795
554,709 140,736 18,150 713,595
58,701 5,884 489,615 554,200
370,999 113,738 7,750 492,487
335,790 19,800 355,590
316,023 20,164 336,187
3,069,400
3,052,092
17,308
3,000,563
7,909,253
7,242,509
666,744
6,978,890
Page 8 of 21
19,767 (364) 19,403
295,641 13,835 309,476
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Development Services: Administration : Personal services Operating Capital Total Administration Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement Total Development Services Physical Environment: Public Works Administration Personal services Operating Capital Total Public Works Administration Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
159,340 91,580 250,920
159,289 95,417 254,706
51 (3,837) (3,786)
152,618 70,086 1,183 223,887
257,210 92,660 8,200 358,070
227,858 110,562 7,315 345,735
29,352 (17,902) 885 12,335
208,976 86,472 295,448
181,720 16,130 197,850
181,842 19,497 201,339
(122) (3,367) (3,489)
170,162 14,408 184,570
806,840
801,780
5,060
703,905
79,480 17,370 96,850
77,786 13,887 91,673
1,694 3,483 5,177
27,857 11,599 98,749 138,205
72,850 16,570 89,420
71,992 9,997 81,989
858 6,573 7,431
68,091 9,905 26,603 104,599
Page 9 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
265,470 104,250 369,720
253,300 72,845 326,145
12,170 31,405 43,575
246,397 80,339 153,352 480,088
265,260 98,680 363,940
267,625 85,555 353,180
(2,365) 13,125 10,760
298,274 83,921 105,867 488,062
81,020 14,920 95,940
77,924 22,507 100,431
3,096 (7,587) (4,491)
77,632 15,746 93,378
1,015,870
953,418
62,452
1,304,332
175,900 112,720 9,000 122,500 420,120
170,299 75,143 121,957 367,399
5,601 37,577 9,000 543 52,721
254,799 102,286 974 121,957 480,016
Library: Personal services Operating Capital Total library Services
126,740 43,530 27,700 197,970
128,843 43,549 22,376 194,768
(2,103) (19) 5,324 3,202
123,231 44,163 40,198 207,592
Marine Services: Personal services Operating Capital Total Marine Services
352,650 23,210 375,860
375,432 20,190 395,622
(22,782) 3,020 (19,762)
331,058 23,611 18,387 373,056
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
209,450 410,040 104,580 724,070
187,161 246,845 58,152 492,158
22,289 163,195 46,428 231,912
190,847 234,878 128,407 554,132
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
Page 10 of 21
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
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
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
180,210 131,940 57,730 369,880
167,258 117,377 595 285,230
12,952 14,563 57,135 84,650
175,938 129,145 56,683 361,766
87,000 87,000 2,174,900
72,434 72,434 1,807,611
14,566 14,566 367,289
71,163 71,163 2,047,725
84,450 566,528 $ 13,643,771
84,367 566,528 $ 12,129,722
83 1,514,049
84,367 325,000 $ 12,182,481
Page 11 of 21
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited using cash basis) September 30, 2008 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
6,087,831 410,048 137,724 453,951 7,089,554
Prior Year
$
4,300 942,809 19,307,556 1,051,680 21,306,345 (9,709,568) 11,596,777
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: Reserved for encumbrances Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
$
Page 12 of 21
1,933,150 20,619,481
112,534 4,611,768 156,975 1,322,098 343 6,203,718 4,300 942,809 19,270,967 1,064,932 21,283,008 (9,008,785) 12,274,223
$
1,429,970 19,907,911
445,815 2,927,389 517,493
317,188 3,168,654 -
154,301 150,689 6,785,000 10,980,687
196,285 147,827 7,125,000 10,954,954
2,445,897 1,614,406 5,578,491 9,638,794
2,445,897 1,614,405 4,892,655 8,952,957
20,619,481
$
19,907,911
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,320,000 2,300,000 123,300 4,743,300
$
2,067,603 2,181,363 123,361 4,372,327
Variance Favorable (Unfavorable) $
(252,397) (118,637) 61 (370,973)
Prior YTD Actual $
871,260 1,716,130 2,587,390
907,136 1,490,189 2,397,325
920,750
824,854
95,896
842,276
Debt Services Capital outlay
1,047,500 805,257 1,852,757
812,465 268,719 1,081,184
235,035 536,538 771,573
821,734 183,491 1,005,225
Total operating expenses
5,360,897
4,303,363
1,057,534
4,309,882
Administrative expenses
Operating income
-35,876 225,941 190,065
2,274,733 2,259,329 158,922 4,692,984
923,690 1,538,691 2,462,381
(617,597)
68,964
(1,428,507)
383,102
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
250,000 (10,140) 377,737
160,700 27,375 -
(89,300) 27,375 10,140 (377,737)
290,881 800 -
Total non-operating revenues (expenses)
617,597
188,075
(429,522)
291,681
-
257,039
257,039
674,783
Net Income Net assets, beginning Net assets, ending
$
Page 13 of 21
9,381,755 9,638,794
$
8,278,174 8,952,957
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
47,850 9,300 57,150
Actual
$
48,265 3,945 52,210
Variance Favorable (Unfavorable)
$
(415) 5,355 4,940
$
38,383 5,106 43,489
133,550 28,380 161,930
126,102 23,459 149,561
Town Clerk: Personal services Operating
34,460 10,130
34,393 10,321
67 (191)
32,937 8,598
Total Town Clerk
44,590
44,714
(124)
41,535
433,520 159,610 21,480 614,610
417,959 127,014 1,519 546,492
2,720 25,000 27,720
3,029 18,567 21,596
(309) 6,433 6,124
2,332 18,571 20,903
2,250 12,500 14,750
10,281 10,281
2,250 2,219 4,469
3,375 57,871 61,246
920,750
824,854
95,896
842,276
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
Page 14 of 21
7,448 4,921 -
Prior Year Actual
12,369
15,561 32,596 19,961 68,118
115,095 24,616 3,400 143,111
375,379 141,728 14,885 531,992
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget Operations Public Works Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
79,480 17,370 96,850
77,788 13,605 91,393
1,692 3,765 5,457
118,863 23,041 141,904
Public Grounds & Forestry Personal services Operating Total Public Grounds & Forestry
89,780 60,430 150,210
80,229 53,159 133,388
9,551 7,271 16,822
81,801 55,505 137,306
Building Maintenance Personal services Operating Total Building Maintenance
77,220 56,500 133,720
71,704 49,198 120,902
5,516 7,302 12,818
75,406 50,065 125,471
Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance
72,850 16,570 8,000 97,420
72,000 10,947 7,565 90,512
850 5,623 435 6,908
68,089 10,238 78,327
345,300 475,600 479,807 1,300,707
402,335 461,959 35,336 899,630
206,630 1,089,660 317,450 1,613,740
203,080 901,321 225,818 1,330,219
3,550 188,339 91,632 283,521
208,625 891,034 79,852 1,179,511
Total operations
3,392,647
2,666,044
726,603
2,645,872
Debt Services Contingency
1,047,500 10,140
812,465 -
235,035 10,140
821,734 -
$ 5,371,037
$ 4,303,363
1,067,674
$ 4,309,882
Total Public Works Administration
Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
Page 15 of 21
(57,035) 13,641 444,471 401,077
$
370,906 508,808 103,639 983,353
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited using cash basis) September 30, 2008 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Total assets and other debits
$
815,357 37,439 852,796
Prior Year
$
123,296 421,135 544,431
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
14,004 14,004
10,100 10,100
Fund balances: Unreserved: Reserved for encumbrances Designated for capital improvements Undesignated Total Equity
838,792 838,792
534,331 534,331
Total Liabilities and Equity
$
Page 16 of 21
852,796
$
544,431
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (unaudited using cash basis) Period Ended September 30, 2008
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax Miscellaneous Revenue & Interest Use of Fund Balance Transfers In Total Revenues
$
280,000 8,000 32,100 566,528
$
228,723 12,405 566,528
$
(51,277) 4,405 -
$
259,797 14,324 325,000
886,628
807,656
(46,872)
599,121
34,300 115,000 5,600 2,350 250 22,570 1,500 550 182,120
27,953 109,175 3,548 1,115 180 16,989 2,744 260 161,964
6,347 5,825 2,052 1,235 70 5,581 (1,244) 290 20,156
105,049 3,548 8,073 259 39,644 2,022 158 158,753
85,580 308,500 394,080
75,494 307,578 383,072
10,086 922 11,008
77,890 307,578 385,468
310,428
-
310,428
-
886,628
545,036
355,401
544,221
-
262,620
262,620
54,900
Expenditures: Other 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
576,172 $
Page 17 of 21
838,792
479,431 $
534,331
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing September 30, 2008 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
October
November
December
January
February
March
April
May
June
July
August
September
Total
5.62%
0.00%
4.81%
4.62%
3.68%
3.07%
2.74%
2.49%
2.43%
2.44%
2.47%
2.43%
3.27%
5,590,279
5,266,586
4,466,586
2,475,694
(2,000,000)
(1,849,191)
(350,000) (70) 26,377
(800,000) -
630,444 -
630,823
393,810
(237,262)
-
393,842 -
9,108
3,941
379
249
(1) 34
393,914
394,082
394,467
394,866
-
-
-
-
(1) 71
(1) 169
(1) 387
(1) 400
(1) 387
5,590,279 (5,236,453) (76) 41,501
5,266,586
4,466,586
2,475,694
630,444
630,823
393,810
393,842
393,913
394,082
394,467
394,866
395,252
395,251
4,611,768
4,633,782
4,633,782
2,644,805
654,207
654,601
408,551
408,585
408,659
408,833
409,234
409,647
4,611,768
(2,000,000) 11,023
(1,994,851) 4,252
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(59) 22,072
-
394
(246,308) 258
-
-
-
-
-
(1) 35
(1) 75
(1) 175
(1) 402
(1) 414
(1) 402
(4,241,158) (65) 39,502
4,633,782
4,633,782
2,644,805
654,207
654,601
408,551
408,585
408,659
408,833
409,234
409,647
410,048
410,048
171,516
172,335
172,335
24,997
24,173
24,187
15,194
15,195
15,196
15,202
15,216
15,230
171,516
-
(9,003) 9
-
-
-
-
-
-
(157,372) (8) 1,108
Impact Fee Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(2) 821
-
(147,546) 208
(824) 0
14
(1) 1
(1) 3
(1) 7
(1) 15
(1) 15
(1) 15
172,335
172,335
24,997
24,173
24,187
15,194
15,195
15,196
15,202
15,216
15,230
15,244
15,244
687,557
690,839
690,839
100,204
96,902
96,959
60,909
60,913
60,923
60,948
61,007
61,068
687,557
(36,087) 38
-
-
-
-
-
-
(630,858) (15) 4,442
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(9) 3,291
-
(591,466) 832
(3,304) 2
57
(1) 5
(1) 11
(1) 26
(1) 60
(1) 62
(1) 59
690,839
690,839
100,204
96,902
96,959
60,909
60,913
60,923
60,948
61,007
61,068
61,126
61,126
100,943
101,425
101,425
14,711
14,227
14,235
8,942
8,942
8,943
8,946
8,953
8,961
100,943
-
(5,298)
-
-
-
-
-
-
(92,619) (7) 652
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 483 101,425
101,425
(86,836) 122 14,711
(485) 0 14,227
8
6
14,235
8,942
Page 18 of 21
(1) 1 8,942
(1) 2 8,943
(1) 4 8,946
(1) 9 8,953
(1) 9 8,961
(1) 9 8,969
8,969
October
November
December
January
February
March
April
May
June
July
August
September
Total
Bond Fund Beginning Bal.
421,135
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(5) 2,016 423,145
423,145
423,145
61,376
59,353
59,388
37,307
37,309
37,315
37,330
37,366
37,403
421,135
(362,278) 509
(2,024) 1
-
(22,104) 23
-
-
-
-
-
-
(386,406) (11) 2,720
61,376
59,353
59,388
37,307
37,309
-
21,802 21,802
8,197 8,197
887 887
583 583
79 (6) 73
169 (6) 163
-
9,108 12,185 509 21,802
3,941 4,255 1 8,197
379 473 35 887
249 311 23 583
33 38 2 73
70 87 6 163
423,145
35
(1) 3
(1) 7 37,315
(1) 16
(1) 37
(1) 38
(1) 36
37,330
37,366
37,403
37,438
37,438
396.38 (6) 390
908.06 (6) 902
938.09 (6) 932
907.77 (6) 902
89,927 (182) 89,745
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
55,059 (146) 54,913
Investment Earnings Net of Admin. Charges General Fund 26,307 Utility Fund 26,596 Transportation Fund 2,010 54,913
168 208 15 390
386 481 36 902
399 496 37 932
386 481 35 902
41,425 45,610 2,709 89,745
FLORIDA LEAGUE OF CITIES, INC. - FLORIDA MUNICIPAL INVESTMENT TRUST FMIT Short-Term (General Fund) Investment Rate (formula) Beginning Bal.
5.60% 823,751
Transfers In (Out) Investment Earnings Ending Bal.
12.72% 827,598
5.84% 836,368
11.74% 840,438
0.00% 95,663
(753,000) 8,225
(95,663)
-
3,847
8,771
4,069
827,598
836,368
840,438
95,663
22.87% 403,295
4.80% 410,981
25.98% 412,623
N/A
N/A
-
N/A
-
N/A
-
N/A
-
N/A
N/A
-
-
-
823,751
-
-
-
(848,663) 24,912
-
-
-
(0)
FMIT Intermediate-Term (General Fund) Investment Rate (formula) Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earning
8.35% 400,509
0.00% 421,557
N/A
N/A
N/A
N/A
N/A
(421,557)
N/A
N/A
-
-
-
400,509
-
-
-
(421,557) 21,048
2,786
7,686
1,643
8,934
403,295
410,981
412,623
421,557
-
-
-
-
-
-
-
-
-
6,633
16,457
5,711.96
17,159
-
-
-
-
-
-
-
-
45,960
STERLING BANK MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal. General Fund Investment Earning
4.52% 3,761,074
4.52% 3,776,481
4.27% 3,790,542
4.07% 3,804,919
3.82% 3,818,558
3.32% 3,830,243
3.32% 3,841,953
3.32% 3,852,450
3.31% 3,862,962
3.25% 3,873,669
3.25% 3,884,375
3.25% 3,894,418
3.83% 3,761,074
15,407
14,061
14,377
13,639
11,685
11,710
10,498
10,511
10,707
10,707
10,043
11,112
144,456
3,776,481
3,790,542
3,804,919
3,818,558
3,830,243
3,841,953
3,852,450
3,862,962
3,873,669
3,884,375
3,894,418
3,905,530
3,905,530
15,407
14,061
14,377
13,639
11,685
11,710
10,498
10,511
10,707
10,707
10,043
11,112
144,456
Page 19 of 21
October
November
December
January
February
March
April
May
June
July
August
September
Total
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTr General Fund Utility Fund Transportation Fund Other Funds Bank Charges Investment Earnings
4.610% 0 1,458 434 1,086 (1,002)
2.930% 1,532 1,386 109 71 (992)
2.930% 14,997 10,500 759 512 (883)
3.940% 23,919 15,211 1,083 765 (1,095)
3.080% 20,883 13,595 1,024 681 (1,452)
2.710% 19,121 14,393 1,056 714 (1,103)
2.010% 13,544 10,354 515 477 (785)
1.790% 12,395 9,459 505 430 (975)
1.750% 11,670 9,100 440 396 (906)
1.790% 10,826 10,434 1,326 446 (944)
1.770% 9,985 10,284 1,298 460 (1,003)
1.620% 9,310 8,913 1,148 415 (929)
2.86% 148,183 115,088 9,695 6,454 (12,069)
1,976
2,105
25,886
39,882
34,732
34,180
24,106
21,815
20,700
22,089
21,024
18,857
267,351
Checking Account Ending Balances per Statement Operating Water Plant Reserve
523,639 362,706
1,194,927 364,397
10,536,711 365,010
14,769,235 365,611
14,937,975 366,054
15,527,129 366,484
15,032,071 366,857
15,050,372 367,212
15,092,612 367,556
14,726,844.24 367,910.71
14,657,553.41 368,266.12
14,404,391.89 368,610.39
146,453,460 4,396,674
Ending Balances
886,345
1,559,324
10,901,722
15,134,846
15,304,028
15,893,613
15,398,928
15,417,584
15,460,167
15,094,754.95
15,025,819.53
14,773,002.28
150,850,134
48,347 28,054 2,444 1,086 79,931
32,050 1,386 109 71 33,616
44,194 22,685 1,269 512 68,660
58,658 19,467 1,084 765 79,973
22,544.62 9,307.50 455.04 396 $ 32,703
11,211.72 10,915.27 1,361.76 446 23,935
10,384.03 10,780.59 1,334.56 460 22,959
9,696.03 9,394.03 1,182.28 415 20,687
348,163 160,698 12,404 6,454 527,720
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Other Funds $
$
$
$
$
32,948 14,069 1,059 681 48,756
$
31,079 14,704 1,079 714 47,576
$
Page 20 of 21
24,074 10,392 517.41 477 35,461
$
22,977 9,546 510.66 430 33,464
$
$
$
$
INVESTMENT EARNINGS $80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$0 Oct
Nov
Dec
Jan
Feb
Mar
General Fund Transportation Fund
Page 21 of 21
Apr
May
Utility Fund Other Funds
Jun
Jul
Aug
Sep
