The Town of Lantana, Florida AWS
MEMORANDUM Finance Department TRANSPORTATION FUND 1. Total gas tax revenue for the period is down $53 compared to the same period last year. However, when all revenues (except transfer in) are considered, the total increased by $1,954. 2. Operating expenditures have increased by $12,188 or 21% primarily due to the emergency repair work to East Ocean Avenue on the east side of the bridge which occurred in the beginning of FY10. Once capital and debt are included, the total expenditures increased by $102,727, or 67%, all of which are capital outlay expenditures. 3. Revenues exceeded expenditures for the period by $16,078 compared to a loss of $126,371 last year.
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At March 31st, the Town’s funds were in LGIP and SunTrust, with the majority in SunTrust. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where our funds are guaranteed 100% above the $250k insured by the FDIC. All liquid funds from the LGIP (Pool A) except for a small amount of interest income have been withdrawn from the fund. Pool B funds, which remain illiquid, cannot be withdrawn.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) As stated earlier, the majority of Pool A has been withdrawn, and by the end of the quarter, we had $77,877 in the pool which is liquid and available for withdrawal.
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MEMORANDUM Finance Department In Pool B, the Town’s balance was $337,081 which is not liquid and is not available for withdrawal. While the total unrealized loss is $116,123 for all accounts, nothing has been realized (sold for a loss). This loss has even decreased by $59,721 since the beginning of the fiscal year. I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
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BUDGET-IN-BRIEF as of March 31, 2010 (50% of year elapsed) YTD-Townwide Expense Allocation
Debt 554,041 Capital 906,416 8% 13%
Wages 1,268,506 33%
Other Town Funds
Interfund Transfers 255,410 3%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,244,169 948,507 6,192,676 6,192,676
Year-to-Date 2,408,581 2,338,434 2,316,639
% 45.9% 0.0% 37.8% 37.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 640,051 557,558 1,197,609 1,197,609
Year-to-Date 344,071 344,071 327,993
% 53.8% 0.0% 28.7% 27.4%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 6,010 53,990 60,000 60,000
Year-to-Date 4,110 4,110 -
% 68.4% 0.0% 6.9% 0.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,600 4,600 4,600
Year-to-Date 1,656 1,656 380
% 36.0% N/A 36.0% 8.3%
% 55.0% 45.9% 50.4% 51.9% 74.0% 47.2%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 97 8,936
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 474,255 474,255
Year-to-Date 104,608 104,608
% 22.1% N/A 22.1%
Total Expenses
474,255
93,243
19.7%
Budget 454,270 454,270 454,270
Year-to-Date 227,135 227,135 296,883
% 50.0% N/A 50.0% 65.4%
Benefits 1,311,960 18%
Operating & Maintenance
974,220 26% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,785,340 3,161,967 Licenses & Permits 353,350 281,825 Intergovernmental Revenue 1,128,800 376,086 Charges for Services 1,475,470 951,106 Fines & Forfeitures 89,000 37,002 Misc. Revenue 389,533 200,687 Interfund Transfers 60,000 Debt Proceeds 250,000 Appropriations & Carryover 1,152,912 T l Revenues Total R $ 9,684,405 9 684 405 $ 5 5,008,673 008 673
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 86,920 47,800 195,490 89,643 328,700 165,567 134,671 69,953 33,100 24,489 3,839,378 1,810,971
Development Services
% 66.1% 79.8% 33.3% 64.5% 41.6% 51.5% 0.0% 0.0% 0.0% 51 51.7% 7%
619,731
289,127
46.7%
2,202,239 157,313 42,500 1,549,153 194,200 255,410 45,600 9,684,405
1,037,330 72,598 6,036 232,626 60,979 255,410 $ 4,162,529
47.1% 46.1% 14.2% 15.0% 31.4% 100.0% 0.0% 43.0%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,067,815 7,197,667
% 39.8%
Operations Department Library Holiday Events Capital Outlay Debt Service Interfund Transfers Out General Contingency Total Expenditures
$
(not including Police Forfeiture Fund)
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Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
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$
10,226,363 270,823 33,251 12,211 266,682 15,642 10,824,972
Prior Year
$
$
6,167,381 4,490,778 (32,157) 12,364 309,384 64,368 11,012,118
266,261 15,246
195,419 8,160
105,872 387,379
82,894 286,473
533,096 -
387,464 -
9,904,497 10,437,593 10,824,972
10,338,181 10,725,645 11,012,118
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2010
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures
Prior Year Actual
Budget
Actual
$ 4,785,340 353,350 1,128,800 1,475,470 89,000 389,533 510,000 8,731,493
$ 3,161,966 281,825 376,086 951,106 37,002 200,687 5,008,672
778,881 3,839,378 619,731 915,620 1,486,432 1,549,153
397,452 1,810,970 289,127 435,509 680,456 232,626
381,429 2,028,408 330,604 480,111 805,976 1,316,527
390,341 1,926,099 295,862 378,274 751,013 1,837,630
194,200 45,600 9,428,995
60,979 3,907,119
133,221 45,600 5,521,876
60,979 5,640,198
1,101,553
1,799,055
Deficiency of revenues under expenditures
(697,502)
Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources
60,000 (255,410) 642,912 250,000 697,502
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
Fund balance, beginning of year
(255,410) (255,410) 846,143 9,591,450 $ 10,437,593
FUND BALANCE, END OF PERIOD
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$ (1,623,374) (71,525) (752,714) (524,364) (51,998) (188,846) (3,212,821)
(60,000) (642,912) (250,000) (952,912)
$ 3,528,983 258,076 386,753 876,060 198,411 236,649 5,484,932
(155,266) 11,000 11,000 (144,266) 10,869,911 $ 10,725,645
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget
Actual
$ 2,690,500 761,000 912,500 421,340 4,785,340
$ 2,375,552 230,877 423,302 132,235 3,161,966
230,050 123,300 353,350
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (314,948) (530,123) (489,198) (289,105) (1,623,374)
$ 2,704,908 256,177 388,316 179,582 3,528,983
211,120 70,705 281,825
(18,930) (52,595) (71,525)
199,870 58,206 258,076
110,000 280,000 18,000 9,500 585,000 126,300 1,128,800
142,287 19,196 199 208,504 5,900 376,086
(110,000) (137,713) 1,196 (9,301) (376,496) (120,400) (752,714)
145,709 21,301 215,706 4,037 386,753
740,000 98,000 590,590 46,880 1,475,470
349,949 47,739 529,975 23,443 951,106
(390,051) (50,261) (60,615) (23,437) 524,364
314,877 42,657 495,083 23,443 876,060
89,000
37,002
(51,998)
198,411
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
86,000 202,500 75,903 14,950 10,180 389,533
38,980 82,769 55,544 14,954 8,440 200,687
(47,020) (119,731) (20,359) 4 (1,740) (188,846)
63,234 79,756 4,500 54,897 14,954 19,308 236,649
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
60,000 642,912 510,000 250,000 1,462,912 $ 9,684,405
$ 5,008,672
(60,000) (642,912) (510,000) (250,000) (1,462,912) $ (4,675,733)
11,000 11,000 $ 5,495,932
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
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$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,020 6,900 86,920
$
43,572 4,228 47,800
Variance Favorable (Unfavorable)
$
36,448 2,672 39,120
Prior Year Actual
$
41,686 4,668 46,354
Executive: Personal services Operating Capital Total Executive
111,470 19,820 80,998 212,288
55,889 6,685 220 62,794
55,581 13,135 80,778 149,494
56,421 11,276 1,721 69,418
Town Clerk: Personal services Operating Capital Total Town Clerk
46,770 17,430 64,200
22,216 4,853 27,069
24,554 12,577 37,131
25,141 4,677 29,818
Financial Administration: Personal services Operating Capital Total Financial Administration
235,740 92,960 15,660 344,360
107,284 58,283 12,206 177,773
128,456 34,677 3,454 166,587
116,160 58,634 12,799 187,593
Legal Counsel: Personal services Operating Total Legal Counsel
12,420 122,251 134,671
7,099 62,854 69,953
5,321 59,397 64,718
6,972 46,441 53,413
5,000 28,100 33,100 875,539
24,489 24,489 409,878
5,000 3,611 8,611 465,661
18,265 18,265 404,861
Non-Departmental Personal services Operating Capital 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, 2010
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
262,880 78,570 341,450
128,146 51,566 179,712
134,734 27,004 161,738
161,790 49,692 211,482
2,249,640 191,098 133,495 2,574,233
1,045,589 78,530 13,105 1,137,224
1,204,051 112,568 120,390 1,437,009
1,115,967 77,084 263,949 1,457,000
Services: Personal services Operating Capital Total Police Services
580,970 127,230 708,200
275,192 58,287 333,479
305,778 68,943 374,721
288,373 62,807 9,281 360,461
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
331,110 17,880 348,990
167,182 6,478 173,660
163,928 11,402 175,330
162,412 7,974 31,605 201,991
3,972,873
1,824,075
2,148,798
2,230,934
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
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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, 2010
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
174,450 15,950 227,809 418,209
85,425 4,886 90,311
89,025 11,064 227,809 327,898
77,811 5,671 83,482
117,230 129,556 246,786
56,852 57,319 114,171
60,378 72,237 132,615
57,576 63,166 120,742
161,810 20,735 182,545
76,682 7,963 84,645
85,128 12,772 97,900
84,051 7,587 91,638
Total Development Services
847,540
289,127
558,413
295,862
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
119,490 19,735 139,225
56,888 7,749 64,637
62,602 11,986 74,588
14,653 4,740 19,393
70,030 15,545 85,575
34,695 7,419 42,114
35,335 8,126 43,461
33,624 5,576 3,570 42,770
Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
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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, 2010
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
208,100 100,200 200,000 508,300
103,948 35,470 139,418
104,152 64,730 200,000 368,882
97,088 36,713 133,801
223,750 100,490 324,240
112,889 41,198 154,087
110,861 59,292 170,153
120,301 33,375 153,676
43,450 14,830 58,280
27,620 7,633 35,253
15,830 7,197 23,027
24,433 7,771 32,204
1,115,620
435,509
680,111
381,844
41,230 65,951 122,500 229,681
20,337 27,567 60,979 108,883
20,893 38,384 61,521 120,798
21,092 21,614 60,979 103,685
Library: Personal services Operating Capital Total library Services
106,030 51,283 15,000 172,313
50,479 22,120 10,110 82,709
55,551 29,163 4,890 89,604
51,999 21,251 11,527 84,777
Marine Services: Personal services Operating Capital Total Marine Services
286,880 17,752 304,632
146,824 6,090 152,914
140,056 11,662 151,718
144,683 7,698 152,381
298,180 200,577 690,000 1,188,757
153,299 81,850 196,985 432,134
144,881 118,727 493,015 756,623
193,913 83,261 1,480,704 1,757,878
Trash Collection: Personal services Operating Capital Total Trash Collection Recycling Collection: Personal services Operating Capital Total Recycling Collection Total Physical Environment Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
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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, 2010
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
207,280 168,769 186,191 562,240
97,623 68,229 165,852
109,657 100,540 186,191 396,388
124,707 68,339 22,474 215,520
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
42,500 42,500 2,500,123
6,038 6,038 948,530
36,462 36,462 1,551,593
12,456 12,456 2,326,697
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
71,700 255,410 45,600 9,684,405
255,410 $ 4,162,529
71,700 45,600 5,521,876
5,640,198
$
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$
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
917,904 25,651 943,555
Prior Year
$
701,349 50,872 752,221
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
1,936 1,936
984 984
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
941,619 941,619
751,237 751,237
Total Liabilities and Equity
$
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943,555
$
752,221
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended March 31, 2010
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax PBC Interlocal Agreement Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
251,000 132,641 1,000 115,000 442,558 255,410
$
85,234 3,427 255,410
$
(165,766) (132,641) 2,427 -
$
85,287 1,420 -
1,197,609
344,071
(295,980)
86,707
150,460 5,600 2,550 300 152,000 2,000 1,000 313,910
45,152 155 120 24,478 649 923 71,477
105,308 5,600 2,395 180 127,522 1,351 77 242,433
4,735 47,571 1,975 255 120 3,352 960 321 59,289
575,199 308,500 883,699
102,727 153,789 256,516
472,472 154,711 627,183
153,789 153,789
-
-
-
-
1,197,609
327,993
1,112,049
213,078
-
16,078
16,078
925,541
925,541
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
$
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941,619
(126,371) 877,608 $
751,237
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Construction in progress Less accumulated depreciation Net fixed assets Unamortized bond costs Total assets and other debits
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
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$
6,800,981 301,284 102,824 409,530 7,614,619
Prior Year
$
5,904,126 500,454 107,008 455,521 6,967,109
4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
1,599,203 19,840,459
1,766,177 19,674,837
$
727,505 2,685,367 338,762
359,105 2,927,389 339,596
131,334 168,667 6,060,000 10,111,635
141,303 160,181 6,430,000 10,357,574
2,445,897 2,173,740 5,109,187 9,728,824
2,445,897 1,997,772 4,873,594 9,317,263
19,840,459
$
19,674,837
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2010
Actual
Variance Favorable (Unfavorable)
1,059,217 1,076,952 232,038 2,368,207
$ (1,374,218) (1,370,118) (98,626) (2,842,962)
770,105 1,764,575 2,534,680
384,695 654,458 1,039,153
385,410 1,110,117 1,495,527
824,661
385,730
438,931
409,741
Debt Services Capital outlay
1,045,100 1,788,235 2,833,335
339,274 552,482 891,756
705,826 1,235,753 1,941,579
494,723 97,888 592,611
Total operating expenses
6,192,676
2,316,639
3,876,037
2,129,534
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total Administrative expenses
Operating income/(loss)
$
2,433,435 2,447,070 330,664 5,211,169
$
Prior YTD Actual $
1,033,759 1,061,865 68,545 2,164,169
397,670 729,512 1,127,182
(981,507)
51,568
(6,718,999)
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
33,000 948,507
40,375 -
7,375 (948,507)
(28,581) -
Total non-operating revenues (expenses)
981,507
40,375
(941,132)
(28,581)
-
91,943
91,943
6,054
Net income/(loss) Net assets, beginning Net assets, ending
$
- 16 -
9,636,881 9,728,824
34,635
$
9,311,209 9,317,263
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,360 4,800 58,160
$
29,054 2,822 31,876
Variance Favorable (Unfavorable)
$
24,306 1,978 26,284
Prior Year Actual
$
27,798 4,068 31,866
111,470 19,820 131,290
55,888 6,717 62,605
55,582 13,103 68,685
56,744 10,561 67,305
Town Clerk: Personal services Operating
31,190 11,780
14,813 3,356
16,377 8,424
16,761 3,362
Total Town Clerk
42,970
18,169
24,801
20,123
400,510 141,275 3,000 544,785
178,943 76,382 255,325
221,567 64,893 3,000 289,460
191,241 81,511 1,174 273,926
3,220 27,336 30,556
1,807 12,864 14,671
1,413 14,472 15,885
1,775 8,971 10,746
5,000 11,900 16,900
3,084 3,084
5,000 8,816 13,816
5,775 5,775
824,661
385,730
438,931
409,741
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
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TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Operations Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
124,565 17,430 3,800 145,795
59,907 6,087 3,350 69,344
64,658 11,343 450 76,451
64,061 4,688 68,749
70,030 15,395 85,425
34,694 3,924 38,618
35,336 11,471 46,807
33,623 6,566 40,189
379,750 506,515 1,320,278 2,206,543
192,890 196,812 464,228 853,930
186,860 309,703 856,050 1,352,613
197,208 212,769 87,685 497,662
195,760 1,225,235 464,157 1,885,152
97,204 447,635 84,904 629,743
98,556 777,600 379,253 1,255,409
102,778 505,489 10,203 618,470
Total operations
4,322,915
1,591,635
2,731,280
1,225,070
Debt Services Contingency
1,045,100 -
339,274 -
705,826 -
494,723 -
$ 6,192,676
$ 2,316,639
3,876,037
$ 2,129,534
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 18 -
$
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing March 31, 2010 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
January
February
March
Total
0.30%
0.28%
0.21%
0.17%
0.20%
0.20%
0.15%
176,709
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
176,711
176,714
(1) 3
(1) 3
(1) 3
176,716 -
176,720 -
176,724 -
176,709 -
4
5
5
(3) 24
176,711
176,714
176,716
176,720
176,724
176,730
176,730
183,324
183,326
183,329
183,331
183,335
183,340
183,324
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
(1) 3
(1) 4
(1) 3
-
-
-
-
4
5
6
(3) 25
183,326
183,329
183,331
183,335
183,340
183,345
183,345
6,814
6,813
6,812
6,811
6,812
6,812
6,814
-
-
-
-
-
-
-
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
(1) 0
(1) 0
(1) 0
0
0
0
(3) 1
6,813
6,812
6,811
6,812
6,812
6,812
6,812
27,328
27,327
27,327
27,326
27,327
27,328
27,328
1998 Reserve Beginning Bal.
- 19 -
October Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November -
December
(1) 1
(1) 1
(1) 0
January
February
-
-
March
Total -
-
1
1
1
(3) 4
27,327
27,327
27,326
27,327
27,328
27,329
27,329
4,009
4,008
4,007
4,006
4,006
4,006
4,009
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0
(1) 0
(1) 0
0
0
0
(3) 1
4,008
4,007
4,006
4,006
4,006
4,006
4,006
16,737
16,736
16,736
16,735
16,735
16,736
16,737
-
-
-
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0 16,736
(1) 0 16,736
(1) 0 16,735
0
0
1
16,735
16,736
16,736
(3) 2 16,736
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
8 (6) 2
8 (6) 2
7 (6) 1
2 0 (1) 2
2 0 (1) 2
2 (0) (1) 1
- 20 -
9 9
11
13
56 (18) 38
4 5 0 9
5 6 0 11
5 7 1 13
21 18 (1) 38
-
11 -
13 -
October
November
December
January
February
March
Total
Sterling Bank MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal.
0.00% 9,736
0.00% -
0.00% -
0.00%
0.00%
0.00%
0.00% 9,736
(9,736) -
-
-
-
-
-
(9,736) -
-
-
-
-
-
-
-
0
General Fund Investment Earnings
0
0
0
0
0
0
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges Investment Earnings
0.350% 2,991 2,073 280 37 25 (1,483)
0.350% 2,783 2,026 258 36 24 (787)
0.340% 2,889 1,754 207 31 20 (804)
0.250% 2,182 1,353 154 24 15 0
0.650% 1,930 1,278 120 22 13 (11)
0.650% 2,075 1,462 188 25 14 (302)
0.29% 14,850 9,947 1,207
3,924
4,340
4,097
3,728
3,351
3,463
22,728
111 (3,387)
Checking Account Ending Balances per Statement Operating Water Plant Reserve
17,763,745 371,007
17,547,666 371,099
19,091,186 371,224
19,074,879 371,313
19,383,886 371,384
19,459,777 371,463
Ending Balances
18,134,752
17,918,765
19,462,410
19,446,193
19,755,270
19,831,240
1,935 1,284 120 22 13 3,374
2,081 1,469 189 25 14 3,778
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
2,993 2,074 280 37 25 5,409
$
2,785 2,027 257 36 24 5,129
$
2,891 1,753 206 31 20 4,902
- 21 -
$
2,186 1,358 154 24 15 3,738
$
$
$
14,871 9,965 1,206 174 111 26,328
Investment Income 3,000 2,500 2,000 1,500 1,000 500 0 Oct
Nov
General Fund
Dec Utility Fund
- 22 -
Jan
Feb
Transportation Fund
Mar
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At March 31st, the Town’s funds were in LGIP and SunTrust, with the majority in SunTrust. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where our funds are guaranteed 100% above the $250k insured by the FDIC. All liquid funds from the LGIP (Pool A) except for a small amount of interest income have been withdrawn from the fund. Pool B funds, which remain illiquid, cannot be withdrawn.
OTHER FUNDS This report does not incorporate some of the Town’s smaller special revenue and internal service funds. These funds include the following: Recreation, Police Education, Police Forfeiture, Grants, and Insurance. If you would like a review of these funds, please contact me (561) 540-5035.
STATE BOARD OF ADMINISTRATION LOCAL GOVERNMENT INVESTMENT POOL (LGIP) As stated earlier, the majority of Pool A has been withdrawn, and by the end of the quarter, we had $77,877 in the pool which is liquid and available for withdrawal.
-2-
MEMORANDUM Finance Department In Pool B, the Town’s balance was $337,081 which is not liquid and is not available for withdrawal. While the total unrealized loss is $116,123 for all accounts, nothing has been realized (sold for a loss). This loss has even decreased by $59,721 since the beginning of the fiscal year. I hope this will be helpful to you, and as always, if you have any questions please do not hesitate to contact me.
-3-
BUDGET-IN-BRIEF as of March 31, 2010 (50% of year elapsed) YTD-Townwide Expense Allocation
Debt 554,041 Capital 906,416 8% 13%
Wages 1,268,506 33%
Other Town Funds
Interfund Transfers 255,410 3%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 5,244,169 948,507 6,192,676 6,192,676
Year-to-Date 2,408,581 2,338,434 2,316,639
% 45.9% 0.0% 37.8% 37.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 640,051 557,558 1,197,609 1,197,609
Year-to-Date 344,071 344,071 327,993
% 53.8% 0.0% 28.7% 27.4%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 6,010 53,990 60,000 60,000
Year-to-Date 4,110 4,110 -
% 68.4% 0.0% 6.9% 0.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,600 4,600 4,600
Year-to-Date 1,656 1,656 380
% 36.0% N/A 36.0% 8.3%
% 55.0% 45.9% 50.4% 51.9% 74.0% 47.2%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 97 8,936
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 474,255 474,255
Year-to-Date 104,608 104,608
% 22.1% N/A 22.1%
Total Expenses
474,255
93,243
19.7%
Budget 454,270 454,270 454,270
Year-to-Date 227,135 227,135 296,883
% 50.0% N/A 50.0% 65.4%
Benefits 1,311,960 18%
Operating & Maintenance
974,220 26% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,785,340 3,161,967 Licenses & Permits 353,350 281,825 Intergovernmental Revenue 1,128,800 376,086 Charges for Services 1,475,470 951,106 Fines & Forfeitures 89,000 37,002 Misc. Revenue 389,533 200,687 Interfund Transfers 60,000 Debt Proceeds 250,000 Appropriations & Carryover 1,152,912 T l Revenues Total R $ 9,684,405 9 684 405 $ 5 5,008,673 008 673
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 86,920 47,800 195,490 89,643 328,700 165,567 134,671 69,953 33,100 24,489 3,839,378 1,810,971
Development Services
% 66.1% 79.8% 33.3% 64.5% 41.6% 51.5% 0.0% 0.0% 0.0% 51 51.7% 7%
619,731
289,127
46.7%
2,202,239 157,313 42,500 1,549,153 194,200 255,410 45,600 9,684,405
1,037,330 72,598 6,036 232,626 60,979 255,410 $ 4,162,529
47.1% 46.1% 14.2% 15.0% 31.4% 100.0% 0.0% 43.0%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,067,815 7,197,667
% 39.8%
Operations Department Library Holiday Events Capital Outlay Debt Service Interfund Transfers Out General Contingency Total Expenditures
$
(not including Police Forfeiture Fund)
-4-
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts Inventory Due from other funds Accrued revenues Other Total assets and other debits
$
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Other liabilities Payable from restricted assets: Accrued wages payable Revenue refunding bonds Deferred revenue Total liabilities Fund balances: Reserved for Encumbrances Designated for subsequent year's expenditures Undesignated Total equity and other credits Total liabilities, equity and other credits
-5-
$
10,226,363 270,823 33,251 12,211 266,682 15,642 10,824,972
Prior Year
$
$
6,167,381 4,490,778 (32,157) 12,364 309,384 64,368 11,012,118
266,261 15,246
195,419 8,160
105,872 387,379
82,894 286,473
533,096 -
387,464 -
9,904,497 10,437,593 10,824,972
10,338,181 10,725,645 11,012,118
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended March 31, 2010
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures
Prior Year Actual
Budget
Actual
$ 4,785,340 353,350 1,128,800 1,475,470 89,000 389,533 510,000 8,731,493
$ 3,161,966 281,825 376,086 951,106 37,002 200,687 5,008,672
778,881 3,839,378 619,731 915,620 1,486,432 1,549,153
397,452 1,810,970 289,127 435,509 680,456 232,626
381,429 2,028,408 330,604 480,111 805,976 1,316,527
390,341 1,926,099 295,862 378,274 751,013 1,837,630
194,200 45,600 9,428,995
60,979 3,907,119
133,221 45,600 5,521,876
60,979 5,640,198
1,101,553
1,799,055
Deficiency of revenues under expenditures
(697,502)
Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources
60,000 (255,410) 642,912 250,000 697,502
Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
-
Fund balance, beginning of year
(255,410) (255,410) 846,143 9,591,450 $ 10,437,593
FUND BALANCE, END OF PERIOD
-6-
$ (1,623,374) (71,525) (752,714) (524,364) (51,998) (188,846) (3,212,821)
(60,000) (642,912) (250,000) (952,912)
$ 3,528,983 258,076 386,753 876,060 198,411 236,649 5,484,932
(155,266) 11,000 11,000 (144,266) 10,869,911 $ 10,725,645
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget
Actual
$ 2,690,500 761,000 912,500 421,340 4,785,340
$ 2,375,552 230,877 423,302 132,235 3,161,966
230,050 123,300 353,350
Intergovernmental revenues: Insurance Premium Tax-Police State revenue sharing Mobile home licenses Alcoholic beverage licenses Local government ½ cent sales tax Government grants Total intergovernmental revenues Charges for services: Sanitation and waste removal Recycling fees Public Safety Nature Preserve Maintenance Total charges for services
Taxes: Ad Valorem taxes Franchise taxes Utility service taxes Local Communications Services Tax Total taxes
Variance Favorable (Unfavorable) (314,948) (530,123) (489,198) (289,105) (1,623,374)
$ 2,704,908 256,177 388,316 179,582 3,528,983
211,120 70,705 281,825
(18,930) (52,595) (71,525)
199,870 58,206 258,076
110,000 280,000 18,000 9,500 585,000 126,300 1,128,800
142,287 19,196 199 208,504 5,900 376,086
(110,000) (137,713) 1,196 (9,301) (376,496) (120,400) (752,714)
145,709 21,301 215,706 4,037 386,753
740,000 98,000 590,590 46,880 1,475,470
349,949 47,739 529,975 23,443 951,106
(390,051) (50,261) (60,615) (23,437) 524,364
314,877 42,657 495,083 23,443 876,060
89,000
37,002
(51,998)
198,411
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
86,000 202,500 75,903 14,950 10,180 389,533
38,980 82,769 55,544 14,954 8,440 200,687
(47,020) (119,731) (20,359) 4 (1,740) (188,846)
63,234 79,756 4,500 54,897 14,954 19,308 236,649
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
60,000 642,912 510,000 250,000 1,462,912 $ 9,684,405
$ 5,008,672
(60,000) (642,912) (510,000) (250,000) (1,462,912) $ (4,675,733)
11,000 11,000 $ 5,495,932
Licenses and permits: Professional and occupational licenses Building and other permits Total licenses and permits
Fines and forfeitures
-7-
$
Prior Year Actual
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,020 6,900 86,920
$
43,572 4,228 47,800
Variance Favorable (Unfavorable)
$
36,448 2,672 39,120
Prior Year Actual
$
41,686 4,668 46,354
Executive: Personal services Operating Capital Total Executive
111,470 19,820 80,998 212,288
55,889 6,685 220 62,794
55,581 13,135 80,778 149,494
56,421 11,276 1,721 69,418
Town Clerk: Personal services Operating Capital Total Town Clerk
46,770 17,430 64,200
22,216 4,853 27,069
24,554 12,577 37,131
25,141 4,677 29,818
Financial Administration: Personal services Operating Capital Total Financial Administration
235,740 92,960 15,660 344,360
107,284 58,283 12,206 177,773
128,456 34,677 3,454 166,587
116,160 58,634 12,799 187,593
Legal Counsel: Personal services Operating Total Legal Counsel
12,420 122,251 134,671
7,099 62,854 69,953
5,321 59,397 64,718
6,972 46,441 53,413
5,000 28,100 33,100 875,539
24,489 24,489 409,878
5,000 3,611 8,611 465,661
18,265 18,265 404,861
Non-Departmental Personal services Operating Capital Total Non-Departmental Total General Government
-8-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
262,880 78,570 341,450
128,146 51,566 179,712
134,734 27,004 161,738
161,790 49,692 211,482
2,249,640 191,098 133,495 2,574,233
1,045,589 78,530 13,105 1,137,224
1,204,051 112,568 120,390 1,437,009
1,115,967 77,084 263,949 1,457,000
Services: Personal services Operating Capital Total Police Services
580,970 127,230 708,200
275,192 58,287 333,479
305,778 68,943 374,721
288,373 62,807 9,281 360,461
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
331,110 17,880 348,990
167,182 6,478 173,660
163,928 11,402 175,330
162,412 7,974 31,605 201,991
3,972,873
1,824,075
2,148,798
2,230,934
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
-9-
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
174,450 15,950 227,809 418,209
85,425 4,886 90,311
89,025 11,064 227,809 327,898
77,811 5,671 83,482
117,230 129,556 246,786
56,852 57,319 114,171
60,378 72,237 132,615
57,576 63,166 120,742
161,810 20,735 182,545
76,682 7,963 84,645
85,128 12,772 97,900
84,051 7,587 91,638
Total Development Services
847,540
289,127
558,413
295,862
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
119,490 19,735 139,225
56,888 7,749 64,637
62,602 11,986 74,588
14,653 4,740 19,393
70,030 15,545 85,575
34,695 7,419 42,114
35,335 8,126 43,461
33,624 5,576 3,570 42,770
Building Inspections: Personal services Operating Capital Total Building Inspections Code Enforcement: Personal services Operating Capital Total Code Enforcement
Vehicle Maintenance: Personal services Operating Capital Total Vehicle Maintenance
- 10 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
208,100 100,200 200,000 508,300
103,948 35,470 139,418
104,152 64,730 200,000 368,882
97,088 36,713 133,801
223,750 100,490 324,240
112,889 41,198 154,087
110,861 59,292 170,153
120,301 33,375 153,676
43,450 14,830 58,280
27,620 7,633 35,253
15,830 7,197 23,027
24,433 7,771 32,204
1,115,620
435,509
680,111
381,844
41,230 65,951 122,500 229,681
20,337 27,567 60,979 108,883
20,893 38,384 61,521 120,798
21,092 21,614 60,979 103,685
Library: Personal services Operating Capital Total library Services
106,030 51,283 15,000 172,313
50,479 22,120 10,110 82,709
55,551 29,163 4,890 89,604
51,999 21,251 11,527 84,777
Marine Services: Personal services Operating Capital Total Marine Services
286,880 17,752 304,632
146,824 6,090 152,914
140,056 11,662 151,718
144,683 7,698 152,381
298,180 200,577 690,000 1,188,757
153,299 81,850 196,985 432,134
144,881 118,727 493,015 756,623
193,913 83,261 1,480,704 1,757,878
Trash Collection: Personal services Operating Capital Total Trash Collection Recycling Collection: Personal services Operating Capital Total Recycling Collection Total Physical Environment Cultural and Recreation: Sports complex: Personal services Operating Capital Debt service Total Sports Complex Services
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
- 11 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
207,280 168,769 186,191 562,240
97,623 68,229 165,852
109,657 100,540 186,191 396,388
124,707 68,339 22,474 215,520
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
42,500 42,500 2,500,123
6,038 6,038 948,530
36,462 36,462 1,551,593
12,456 12,456 2,326,697
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
71,700 255,410 45,600 9,684,405
255,410 $ 4,162,529
71,700 45,600 5,521,876
5,640,198
$
- 12 -
$
$
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
917,904 25,651 943,555
Prior Year
$
701,349 50,872 752,221
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
1,936 1,936
984 984
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
941,619 941,619
751,237 751,237
Total Liabilities and Equity
$
- 13 -
943,555
$
752,221
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended March 31, 2010
Budget
Variance Favorable (Unfavorable)
Actual
Prior Year Actual
Revenues: Intergovernmental Gasoline Tax PBC Interlocal Agreement Miscellaneous Revenue & Interest Use of Fund Balance Capital Carryover Transfers In Total Revenues
$
251,000 132,641 1,000 115,000 442,558 255,410
$
85,234 3,427 255,410
$
(165,766) (132,641) 2,427 -
$
85,287 1,420 -
1,197,609
344,071
(295,980)
86,707
150,460 5,600 2,550 300 152,000 2,000 1,000 313,910
45,152 155 120 24,478 649 923 71,477
105,308 5,600 2,395 180 127,522 1,351 77 242,433
4,735 47,571 1,975 255 120 3,352 960 321 59,289
575,199 308,500 883,699
102,727 153,789 256,516
472,472 154,711 627,183
153,789 153,789
-
-
-
-
1,197,609
327,993
1,112,049
213,078
-
16,078
16,078
925,541
925,541
Expenditures: Professional Services Utility Services Rentals & Leases R & M Vehicles R & M Other Equipment & Tools R & M Streets/Sidewalks Gas, Oil, Lube Vehicles Small Tools & Equipment Capital: Capital Outlay Debt Service
Designated for future use Total Expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, beginning of year FUND BALANCE, END OF PERIOD
$
- 14 -
941,619
(126,371) 877,608 $
751,237
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) March 31, 2010 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Construction in progress Less accumulated depreciation Net fixed assets Unamortized bond costs Total assets and other debits
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets Total liabilities, equity and other credits
- 15 -
$
6,800,981 301,284 102,824 409,530 7,614,619
Prior Year
$
5,904,126 500,454 107,008 455,521 6,967,109
4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
4,300 942,809 19,329,291 981,272 21,257,672 (10,316,121) 10,941,551
1,599,203 19,840,459
1,766,177 19,674,837
$
727,505 2,685,367 338,762
359,105 2,927,389 339,596
131,334 168,667 6,060,000 10,111,635
141,303 160,181 6,430,000 10,357,574
2,445,897 2,173,740 5,109,187 9,728,824
2,445,897 1,997,772 4,873,594 9,317,263
19,840,459
$
19,674,837
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended March 31, 2010
Actual
Variance Favorable (Unfavorable)
1,059,217 1,076,952 232,038 2,368,207
$ (1,374,218) (1,370,118) (98,626) (2,842,962)
770,105 1,764,575 2,534,680
384,695 654,458 1,039,153
385,410 1,110,117 1,495,527
824,661
385,730
438,931
409,741
Debt Services Capital outlay
1,045,100 1,788,235 2,833,335
339,274 552,482 891,756
705,826 1,235,753 1,941,579
494,723 97,888 592,611
Total operating expenses
6,192,676
2,316,639
3,876,037
2,129,534
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total Administrative expenses
Operating income/(loss)
$
2,433,435 2,447,070 330,664 5,211,169
$
Prior YTD Actual $
1,033,759 1,061,865 68,545 2,164,169
397,670 729,512 1,127,182
(981,507)
51,568
(6,718,999)
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
33,000 948,507
40,375 -
7,375 (948,507)
(28,581) -
Total non-operating revenues (expenses)
981,507
40,375
(941,132)
(28,581)
-
91,943
91,943
6,054
Net income/(loss) Net assets, beginning Net assets, ending
$
- 16 -
9,636,881 9,728,824
34,635
$
9,311,209 9,317,263
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,360 4,800 58,160
$
29,054 2,822 31,876
Variance Favorable (Unfavorable)
$
24,306 1,978 26,284
Prior Year Actual
$
27,798 4,068 31,866
111,470 19,820 131,290
55,888 6,717 62,605
55,582 13,103 68,685
56,744 10,561 67,305
Town Clerk: Personal services Operating
31,190 11,780
14,813 3,356
16,377 8,424
16,761 3,362
Total Town Clerk
42,970
18,169
24,801
20,123
400,510 141,275 3,000 544,785
178,943 76,382 255,325
221,567 64,893 3,000 289,460
191,241 81,511 1,174 273,926
3,220 27,336 30,556
1,807 12,864 14,671
1,413 14,472 15,885
1,775 8,971 10,746
5,000 11,900 16,900
3,084 3,084
5,000 8,816 13,816
5,775 5,775
824,661
385,730
438,931
409,741
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
- 17 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended March 31, 2010
Budget Operations Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
124,565 17,430 3,800 145,795
59,907 6,087 3,350 69,344
64,658 11,343 450 76,451
64,061 4,688 68,749
70,030 15,395 85,425
34,694 3,924 38,618
35,336 11,471 46,807
33,623 6,566 40,189
379,750 506,515 1,320,278 2,206,543
192,890 196,812 464,228 853,930
186,860 309,703 856,050 1,352,613
197,208 212,769 87,685 497,662
195,760 1,225,235 464,157 1,885,152
97,204 447,635 84,904 629,743
98,556 777,600 379,253 1,255,409
102,778 505,489 10,203 618,470
Total operations
4,322,915
1,591,635
2,731,280
1,225,070
Debt Services Contingency
1,045,100 -
339,274 -
705,826 -
494,723 -
$ 6,192,676
$ 2,316,639
3,876,037
$ 2,129,534
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water plant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 18 -
$
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing March 31, 2010 FLORIDA STATE BOARD OF ADMINISTRATION (SBA) *EACH ACCOUNT COMBINES POOL A AND POOL B
SBA Rate General Fund Beginning Bal.
October
November
December
January
February
March
Total
0.30%
0.28%
0.21%
0.17%
0.20%
0.20%
0.15%
176,709
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
176,711
176,714
(1) 3
(1) 3
(1) 3
176,716 -
176,720 -
176,724 -
176,709 -
4
5
5
(3) 24
176,711
176,714
176,716
176,720
176,724
176,730
176,730
183,324
183,326
183,329
183,331
183,335
183,340
183,324
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal. Impact Fee Reserve
(1) 3
(1) 4
(1) 3
-
-
-
-
4
5
6
(3) 25
183,326
183,329
183,331
183,335
183,340
183,345
183,345
6,814
6,813
6,812
6,811
6,812
6,812
6,814
-
-
-
-
-
-
-
*
Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
(1) 0
(1) 0
(1) 0
0
0
0
(3) 1
6,813
6,812
6,811
6,812
6,812
6,812
6,812
27,328
27,327
27,327
27,326
27,327
27,328
27,328
1998 Reserve Beginning Bal.
- 19 -
October Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
November -
December
(1) 1
(1) 1
(1) 0
January
February
-
-
March
Total -
-
1
1
1
(3) 4
27,327
27,327
27,326
27,327
27,328
27,329
27,329
4,009
4,008
4,007
4,006
4,006
4,006
4,009
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0
(1) 0
(1) 0
0
0
0
(3) 1
4,008
4,007
4,006
4,006
4,006
4,006
4,006
16,737
16,736
16,736
16,735
16,735
16,736
16,737
-
-
-
-
-
-
-
Bond Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
(1) 0 16,736
(1) 0 16,736
(1) 0 16,735
0
0
1
16,735
16,736
16,736
(3) 2 16,736
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
8 (6) 2
8 (6) 2
7 (6) 1
2 0 (1) 2
2 0 (1) 2
2 (0) (1) 1
- 20 -
9 9
11
13
56 (18) 38
4 5 0 9
5 6 0 11
5 7 1 13
21 18 (1) 38
-
11 -
13 -
October
November
December
January
February
March
Total
Sterling Bank MMDA Investment Rate Beginning Bal. Transfers In (Out) Investment Earnings Ending Bal.
0.00% 9,736
0.00% -
0.00% -
0.00%
0.00%
0.00%
0.00% 9,736
(9,736) -
-
-
-
-
-
(9,736) -
-
-
-
-
-
-
-
0
General Fund Investment Earnings
0
0
0
0
0
0
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges Investment Earnings
0.350% 2,991 2,073 280 37 25 (1,483)
0.350% 2,783 2,026 258 36 24 (787)
0.340% 2,889 1,754 207 31 20 (804)
0.250% 2,182 1,353 154 24 15 0
0.650% 1,930 1,278 120 22 13 (11)
0.650% 2,075 1,462 188 25 14 (302)
0.29% 14,850 9,947 1,207
3,924
4,340
4,097
3,728
3,351
3,463
22,728
111 (3,387)
Checking Account Ending Balances per Statement Operating Water Plant Reserve
17,763,745 371,007
17,547,666 371,099
19,091,186 371,224
19,074,879 371,313
19,383,886 371,384
19,459,777 371,463
Ending Balances
18,134,752
17,918,765
19,462,410
19,446,193
19,755,270
19,831,240
1,935 1,284 120 22 13 3,374
2,081 1,469 189 25 14 3,778
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
2,993 2,074 280 37 25 5,409
$
2,785 2,027 257 36 24 5,129
$
2,891 1,753 206 31 20 4,902
- 21 -
$
2,186 1,358 154 24 15 3,738
$
$
$
14,871 9,965 1,206 174 111 26,328
Investment Income 3,000 2,500 2,000 1,500 1,000 500 0 Oct
Nov
General Fund
Dec Utility Fund
- 22 -
Jan
Feb
Transportation Fund
Mar
