The Town of Lantana, Florida AWS
MEMORANDUM Finance Department 2. Total operating and administrative expenses not including capital or debt are 1.6% or $44,821 less than the same period last year; when including capital and debt, expenditures are down 14.9%, or $689,679 primarily due to less capital purchases in the current fiscal year.
3. Net income for the period is $901,451, compared to a net income of $375,435 last year. However, depreciation expense has not been calculated at this time which may drastically alter net income for the fund.
TRANSPORTATION FUND 1. Total gas tax revenue for the period is down $2,314 compared to the same period last year. When factoring all revenues (except transfers in) are considered, total revenue decreased by $54,103 which is due to the grant for N. Broadway that was approved in FY 10. 2. Operating expenditures have decreased by $78,021 or 36%. This is primarily due to fewer repairs to roads and sidewalks in the current year. Additionally, in FY10, the Florida East Coast (FEC) railroad performed major renovations to two street crossovers which the Town was responsible for reimbursing FEC. When including capital and debt, the total expenditures decreased by $231,729, or 31.8%. 3. Expenditures exceeded revenues for the period by $43,448 compared to a loss of $204,464 last year.
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At September 30th, the Town’s funds were in Florida Prime and SunTrust, with the majority in SunTrust. Florida Prime is the investment pool previously known as the State Board of Administration’s Local Governmental Investment Pool. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, SunTrust continues to possess a three-star rating from BauerFinancial which indicates the bank is adequately funded.
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MEMORANDUM Finance Department Most of the liquid funds from the Florida Prime (Pool A) have been withdrawn from the fund. Pool B funds, which remain illiquid, cannot be withdrawn.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 $175,886 in the pool which is liquid and available for withdrawal. In Pool B, the Town’s balance was $239,611 which is not liquid and is not available for withdrawal. While the total unrealized loss is $58,264 for all accounts, nothing has been realized (sold for a loss). This loss has actually decreased by $30,117 from the last quarter of FY10. However, we have since noticed that beginning in May, the unrealized loss is beginning to increase. We will continue to monitor this unfavorable trend. Unfortunately, since the funds are frozen, the Town has no options at this time. I hope you will find this report helpful, and as always, if you have any questions please do not hesitate to contact me.
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BUDGET-IN-BRIEF as of September 30, 2011 (100% of year elapsed) YTD-Townwide Expense Allocation
Debt Capital 1,211,795 1,749,524 9% 13%
Wages 4,769,799 34%
Other Town Funds
Interfund Transfers 304,171 2%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,947,000 648,110 5,595,110 5,595,110
Year-to-Date 4,777,225 4,777,225 3,937,972
% 96.6% 0.0% 85.4% 70.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 499,800 758,803 1,258,603 1,258,603
Year-to-Date 454,180 454,180 497,627
% 90.9% 0.0% 36.1% 39.5%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 65,372 65,372 65,372
Year-to-Date 65,371
% N/A 0.0% 0.0% 100.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,000 500 4,500 4,500
Year-to-Date 4,511 4,511 3,881
% 112.8% 0.0% 100.2% 86.2%
% 97.0% 96.7% 91.0% 95.2% 33.5% 97.2%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 8,135 3,875
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 2,245,554 2,245,554
Year-to-Date 349,966 349,966
% 15.6% N/A 15.6%
Total Expenses
2,245,554
410,266
18.3%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 412,109 412,109 412,109
Year-to-Date 412,109 412,109 344,911
% 100.0% N/A 100.0% 83.7%
Benefits 2,565,544 18% Operating & Maint. 3,332,533 24% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,301,525 4,001,545 Licenses & Permits 375,070 416,119 Intergovernmental Revenue 1,056,664 958,342 Charges for Services 1,557,267 1,516,166 Fines & Forfeitures 77,000 181,135 Misc. Revenue 431,663 486,829 Interfund Transfers 65,355 65,371 Debt Proceeds Appropriations & Carryover 1,421,975 Total Revenues $ 9,286,519 $ 7,625,507
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 88,230 85,555 186,285 180,156 337,642 307,099 152,438 145,086 84,048 28,198 3,736,115 3,631,264
Development Services
% 93.0% 110.9% 90.7% 97.4% 235.2% 112.8% 100.0% 0.0% 0.0% 82.1%
611,396
596,325
97.5%
2,066,087 151,815 3,000 1,501,013 122,150 238,800 7,500 9,286,519
1,999,698 139,879 2,871 1,192,575 121,957 238,800 $ 8,669,463
96.8% 92.1% 95.7% 79.5% 99.8% 100.0% 0.0% 93.4%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,867,767 13,929,491
% 73.8%
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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TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) September 30, 2011 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-
$
8,972,015 254,190 45,874 10,553 3,128 9,285,760
Prior Year
$
$
9,732,741 139,158 33,434 11,327 1,401 15,642 9,933,703
79,056 8,506
81,597 37,473
139,952 169,137 396,651
137,004 206,730 462,804
5,224 -
19,926 -
8,883,885 8,889,109 9,285,760
9,450,973 9,470,899 9,933,703
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended September 30, 2011
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 4,301,525 375,070 1,056,664 1,557,267 77,000 425,663 288,690 8,081,879
$ 4,001,546 416,119 958,341 1,516,166 181,135 483,239 7,556,546
848,643 3,736,115 611,396 893,746 1,327,156 1,501,013
746,093 3,631,265 596,325 868,127 1,274,321 1,192,575
102,550 104,850 15,071 25,619 52,835 308,438
706,618 3,705,891 605,957 860,751 1,385,909 396,941
122,150 7,500 9,047,719
121,957 8,430,663
193 7,500 617,056
121,957 7,784,024
91,723
67,459
(965,840)
(874,117)
6,000 65,355 (238,800) 1,133,285 965,840
3,590 65,371 (238,800) (169,839)
-
Fund balance, beginning of year
(1,043,956) 9,933,065 $ 8,889,109
FUND BALANCE, END OF PERIOD
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$
(299,979) 41,049 (98,323) (41,101) 104,135 57,576 (236,643)
(2,410) 16 (1,133,285) (1,135,679)
$ 4,504,894 391,559 969,248 1,488,039 97,517 400,226 7,851,483
7,400 60,000 (255,410) (188,010) (120,551) 9,591,450 $ 9,470,899
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget
Actual
$ 2,242,525 703,000 963,000 393,000 4,301,525
$ 2,264,607 543,388 901,241 292,310 4,001,546
252,350 122,720 375,070
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) 22,082 (159,612) (61,759) (100,690) (299,979)
$ 2,714,901 557,965 905,590 326,438 4,504,894
248,058 168,061 416,119
(4,292) 45,341 41,049
251,002 140,557 391,559
110,000 287,664 20,000 10,000 617,000 12,000 1,056,664
81,401 290,375 22,662 11,020 526,622 26,261 958,341
(28,599) 2,711 2,662 1,020 (90,378) 14,261 (98,323)
85,950 288,906 21,782 10,065 509,623 52,922 969,248
756,000 104,000 650,037 47,230 1,557,267
721,233 98,417 648,119 48,397 1,516,166
(34,767) (5,583) (1,918) 1,167 41,101
735,640 100,346 604,823 47,230 1,488,039
77,000
181,135
104,135
97,517
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
35,000 219,000 4,659 136,050 14,954 16,000 425,663
37,409 238,470 4,659 141,098 14,954 46,649 483,239
2,409 19,470 5,048 30,649 57,576
75,064 205,505 5,300 75,946 14,954 23,457 400,226
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
6,000 65,355 1,133,285 288,690 1,493,330 $ 9,286,519
3,590 65,371 68,961 $ 7,625,507
Licenses and permits: Business services taxes Building and other permits Total licenses and permits
Fines and forfeitures
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$
Prior Year Actual
(2,410) 16 (1,133,285) (288,690) (1,424,369) $ (1,661,012)
7,400 60,000 67,400 $ 7,918,883
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,630 7,600 88,230
$
79,136 6,418 85,554
Variance Favorable (Unfavorable)
$
1,494 1,182 2,676
Prior Year Actual
$
77,962 4,718 82,680
Executive: Personal services Operating Capital Total Executive
105,340 18,235 2,811 126,386
103,733 15,054 2,775 121,562
1,607 3,181 36 4,824
108,229 14,251 61,012 183,492
Town Clerk: Personal services Operating Capital Total Town Clerk
45,480 17,230 2,000 64,710
45,471 15,898 1,887 63,256
9 1,332 113 1,454
45,451 12,364 57,815
Financial Administration: Personal services Operating Capital Total Financial Administration
231,310 106,332 22,000 359,642
223,798 83,301 4,286 311,385
7,512 23,031 17,714 48,257
220,108 77,014 14,826 311,948
Legal Counsel: Personal services Operating Total Legal Counsel
13,080 139,358 152,438
13,078 132,008 145,086
2 7,350 7,352
12,202 123,204 135,406
84,048 84,048 875,454
28,198 28,198 755,041
55,850 55,850 120,413
11,115 11,115 782,456
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 September 30, 2011
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
248,820 69,457 318,277
261,457 63,043 324,500
2,259,580 178,828 195,887 2,634,295
2,175,299 175,345 74,684 2,425,328
84,281 3,483 121,203 208,967
2,180,571 154,731 32,328 2,367,630
Services: Personal services Operating Capital Total Police Services
465,610 145,786 611,396
436,398 137,532 573,930
29,212 8,254 37,466
578,835 113,825 692,660
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
349,130 18,904 368,034
360,365 21,826 382,191
(11,235) (2,922) (14,157)
329,219 16,073 345,292
3,932,002
3,705,949
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
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(12,637) 6,414 (6,223)
Prior Year Actual
226,053
264,932 67,705 332,637
3,738,219
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
168,520 13,218 257,336 439,074
169,010 11,375 255,998 436,383
(490) 1,843 1,338 2,691
172,471 11,916 20,473 204,860
118,750 134,781 1,000 254,531
117,254 128,218 911 246,383
1,496 6,563 89 8,148
116,703 129,051 245,754
157,520 18,607 176,127
153,560 16,908 170,468
3,960 1,699 5,659
157,330 18,486 175,816
Total Development Services
869,732
853,234
16,498
626,430
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
120,310 15,048 135,358
121,638 13,886 135,524
(1,328) 1,162 (166)
118,413 11,866 130,279
71,500 12,802 6,500 90,802
69,250 15,486 5,925 90,661
2,250 (2,684) 575 141
69,262 15,497 84,759
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 September 30, 2011
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
209,680 79,496 200,000 489,176
215,732 67,452 198,959 482,143
(6,052) 12,044 1,041 7,033
213,078 60,152 273,230
227,170 84,996 312,166
225,486 69,721 295,207
1,684 15,275 16,959
228,258 73,797 302,055
55,260 17,484 180,000 252,744
56,561 12,915 176,838 246,314
(1,301) 4,569 3,162 6,430
55,169 15,259 70,428
1,280,246
1,249,849
30,397
860,751
18,148 122,150 140,298
10,272 121,957 132,229
7,876 193 8,069
21,228 66,387 121,957 209,572
Library: Personal services Operating Capital Total library Services
102,820 48,995 20,023 171,838
102,534 37,345 19,360 159,239
286 11,650 663 12,599
105,466 42,783 18,425 166,674
Marine Services: Personal services Operating Capital Total Marine Services
292,550 15,380 307,930
310,753 14,830 325,583
(18,203) 550 (17,653)
300,458 13,186 313,644
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
309,100 211,080 455,336 975,516
313,307 163,630 417,304 894,241
(4,207) 47,450 38,032 81,275
308,117 175,323 220,606 704,046
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
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TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
167,080 159,003 158,120 484,203
173,389 145,389 33,648 352,426
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
3,000 3,000 2,082,785
2,872 2,872 1,866,590
128 128 216,195
32,571 32,571 1,776,168
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
238,800 7,500 9,286,519
238,800 $ 8,669,463
7,500 617,056
255,410 8,039,434
$
- 12 -
(6,309) 13,614 124,472 131,777
$
186,285 134,105 29,271 349,661
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) September 30, 2011 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Intangibles Construction in progress
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets $
Total liabilities, equity and other credits
- 13 -
$
4,300 509,892 20,053,649 798,208 19,142 403,929 21,789,120 (11,046,072) 10,743,048
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
7,901,998 342,584 167,737 410,930 8,823,249
Prior Year
1,432,229 20,998,526
7,224,310 136,238 95,341 410,090 7,865,979 4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
$
1,599,203 20,091,819
819,379 2,170,701 542,511
717,962 2,433,277 531,270
171,791 195,558 5,675,000 9,574,940
164,062 172,932 6,060,000 10,079,503
2,445,897 1,639,328 7,338,361 11,423,586
2,445,897 2,145,675 5,420,744 10,012,316
20,998,526
$
20,091,819
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,395,000 2,400,000 134,000 4,929,000
$
2,311,626 2,300,824 135,756 4,748,206
Variance Favorable (Unfavorable) $
(83,374) (99,176) 1,756 (180,794)
$
2,293,508 2,308,595 336,292 4,938,395
781,970 1,723,824 2,505,794
767,571 1,313,236 2,080,807
846,955
770,795
76,160
732,336
Debt Services Capital outlay
1,047,200 1,157,361 2,204,561
782,260 304,110 1,086,370
264,940 853,251 1,118,191
790,249 940,979 1,731,228
Total operating expenses
5,557,310
3,937,972
1,619,338
4,627,651
Administrative expenses
Operating income/(loss)
14,399 410,588 424,987
Prior YTD Actual
770,629 1,393,458 2,164,087
(628,310)
810,234
(1,800,132)
310,744
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
18,000 (37,800) 648,110
91,217 -
73,217 37,800 (648,110)
64,691 -
Total non-operating revenues (expenses)
628,310
91,217
(537,093)
64,691
-
901,451
901,451
375,435
Net income/(loss) Net assets, beginning Net assets, ending
10,522,135 $ 11,423,586
- 14 -
9,636,881 $ 10,012,316
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,770 4,800 58,570
$
52,777 4,347 57,124
Variance Favorable (Unfavorable)
$
993 453 1,446
Prior Year Actual
$
51,988 3,149 55,137
100,540 18,235 118,775
102,134 14,965 117,099
(1,594) 3,270 1,676
108,225 14,285 122,510
Town Clerk: Personal services Operating
30,330 11,655
30,312 10,648
18 1,007
30,306 8,380
Total Town Clerk
41,985
40,960
1,025
38,686
399,830 138,602 3,000 541,432
372,826 110,670 1,716 485,212
27,004 27,932 1,284 56,220
366,095 113,296 479,391
3,280 69,013 72,293
3,272 63,677 66,949
8 5,336 5,344
3,115 29,518 32,633
5,000 8,900 13,900
3,451 3,451
5,000 5,449 10,449
3,979 3,979
846,955
770,795
76,160
732,336
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 September 30, 2011
Budget Operations/Utilities Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
124,220 16,748 140,968
124,801 16,418 141,219
71,500 12,802 84,302
69,063 10,281 79,344
396,430 524,736 842,361 1,763,527
406,813 482,131 160,694 1,049,638
(10,383) 42,605 681,667 713,889
392,359 476,639 780,082 1,649,080
189,820 1,169,538 315,000 1,674,358
166,894 804,406 143,416 1,114,716
22,926 365,132 171,584 559,642
187,348 894,312 157,547 1,239,207
Total operations/utilities
3,663,155
2,384,917
1,278,238
3,105,066
Debt Services Contingency
1,047,200 37,800
782,260 -
264,940 37,800
790,249 -
$ 5,595,110
$ 3,937,972
1,657,138
$ 4,627,651
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water/waterplant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 16 -
(581) 330 (251)
Prior Year Actual
2,437 2,521 4,958
$
121,865 12,030 3,350 137,245 69,057 10,477 79,534
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) September 30, 2011 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
785,920 24,074 809,994
Prior Year
$
800,207 13,177 813,384
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
9,295 9,295
92,307 92,307
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
800,699 800,699
721,077 721,077
Total Liabilities and Equity
$
- 17 -
809,994
$
813,384
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended September 30, 2011
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
$
260,000 1,000 389,000 369,803 238,800
$
212,854 2,525 238,800
$
(47,146) 1,525 -
$
215,168 48,639 5,675 255,410
1,258,603
454,179
(45,621)
524,892
121,000 4,000 1,750 300 46,883 2,050 1,000 176,983
97,607 1,057 310 36,353 2,570 465 138,362
23,393 4,000 693 (10) 10,530 (520) 535 38,621
90,273 973 240 122,113 1,828 956 216,383
773,120 308,500 1,081,620
51,687 307,578 359,265
721,433 922 722,355
205,395 307,578 512,973
-
-
-
-
1,258,603
497,627
799,597
729,356
(43,448)
(43,448)
(204,464)
Expenditures: 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
844,147
FUND BALANCE, END OF PERIOD
844,147 $
- 18 -
800,699
925,541 $
721,077
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing September 30, 2011 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
0.30%
0.30%
0.27%
0.26%
0.26%
0.27%
0.27%
0.24%
0.23%
0.21%
0.23%
0.24%
0.27%
176,797
176,809
176,822
176,835
176,849
176,862
13
13
13
14
13
15
176,809
176,822
176,835
176,849
176,862
183,415
183,428
183,441
183,454
13
13
13
183,428
183,441
6,815 -
176,877 -
176,891 -
176,905 -
176,918 -
176,930 -
176,945 -
176,797
14
14
13
13
14
15
163
176,877
176,891
176,905
176,918
176,930
176,945
176,959
176,959
183,469
183,482
183,498
183,512
183,527
183,540
183,554
183,568
183,415
14
14
15
183,454
183,469
183,482
6,815
6,816
6,816
-
-
-
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
-
-
15
14
14
13
15
15
169
183,498
183,512
183,527
183,540
183,554
183,568
183,583
183,583
6,817
6,817
6,818
6,818
6,819
6,819
6,820
6,820
6,815
-
-
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
0
1
1
1
1
1
1
1
0
1
1
6
6,815
6,816
6,816
6,817
6,817
6,818
6,818
6,819
6,819
6,820
6,820
6,821
6,821
27,339
27,341
27,343
27,345
27,347
27,349
27,351
27,353
27,356
27,358
27,359
27,362
27,339
-
-
-
-
-
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
2
2
2
2
2
2
2
2
2
2
2
2
25
27,341
27,343
27,345
27,347
27,349
27,351
27,353
27,356
27,358
27,359
27,362
27,364
27,364
4,008
4,008
4,008
4,009
4,009
4,009
4,010
4,010
4,010
4,011
4,011
4,011
4,008
-
-
-
-
-
-
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0
0
0
0
0
0
0
0
0
0
0
0
4
4,008
4,008
4,009
4,009
4,009
4,010
4,010
4,010
4,011
4,011
4,011
4,012
4,012
- 19 -
October
November
December
January
February
March
April
May
June
July
August
September
Total
Bond Fund Beginning Bal.
16,743
16,744
16,745
16,746
16,748
16,749
16,750
16,752
16,753
16,754
16,755
16,757
-
-
-
-
-
-
-
-
-
-
-
-
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
16,743
1
1
1
1
1
1
1
1
1
1
1
1
15
16,744
16,745
16,746
16,748
16,749
16,750
16,752
16,753
16,754
16,755
16,757
16,758
16,758
30 30
30 30
30 30
33 33
31 31
35 35
33 33
33 33
30.81 31
29.70 30
33.29 33
34.26 34
382 382
13 16 1 30
13 16 1 30
13 16 1 30
14 17 1 33
13 16 1 31
15 19 1 35
14 18 1 33
14 17 1 33
13 16 1 31
13 16 1 30
14 18 1 33
15 18 1 34
163 204 15 382
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
-
Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges (net of interest credit)
0.220% 1,641 1,295 141 12 (397)
0.220% 1,546 1,218 129 11 (169)
0.180% 1,336 1,115 107 9 (142)
0.180% 1,492 1,102 101 9 (157)
0.200% 1,331 1,013 89 9 (524)
0.180% 1,410 1,145 131 10 (708)
0.180% 1,349 1,101 124 10 766
0.170% 1,255 1,090 116 9 (117)
0.150% 1,053 990 102
2,692
2,734
2,425
2,548
1,918
1,989
3,349
2,353
Operating Water Plant Reserve
18,009,952 372,008
18,011,773 372,070
19,006,212 372,149
19,329,230 372,228
19,228,340 372,299
19,373,184 372,384
19,188,576 372,445
Ending Balances
18,381,961
18,383,843
19,378,361
19,701,457
19,600,639
19,745,568
19,561,021
1,653 1,311 142 0 12 3,119
1,558 1,234 130 0 11 2,933
1,349 1,131 108 0 9 2,597
1,506 1,120 103 0 9 2,737
Investment Earnings
0.150% 1,077 1,032 101 0 8 (304)
0.120% 865 837 78 0 7 (102)
0.120% 851 799 75 0 6 (237)
0.19% 15,204 12,737 1,295
1,991
1,914
1,684
1,495
27,094
19,172,979 372,508
19,230,930 372,570
18,872,063 372,633
19,180,767 372,688
18,940,196 372,734
19,545,487
19,603,499
19,244,696
19,553,455
19,312,930
1,269 1,107 117.48 0 9 2,503
1,066.56 1,006.24 103.20 0 8 2,184
1,089.21 1,047.72 102.31 0 8 2,248
879.07 854.48 79.70 0 7 1,820
865.75 817.68 76.03 0 6 1,766
8 (162)
110 (2,252)
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
$
$
$
$
1,344 1,029 91 0 9 2,473
$
- 20 -
1,425 1,164 132 0 10 2,731
$
1,363 1,119 125.69 0 10 2,617
$
$
$
$
$
$
15,367 12,941 1,311 0 110 29,728
Investment Income $0 Oct Dec Feb Apr Jun Aug
$500
$1,000
1,653 1,558 1,349 1,506 1,344 1,425 1,363 1,269 1,067 1 067 1,089 879 866 General Fund
$1,500
$2,000
$2,500
$3,000
1,311 142 1,234 130 1,131 108 1,120 103 1,029 91 1,164 132 1,119 126 1,107 117 1,006 103 1 006 103 1,048 102 854 80 818 76 Utility Fund
- 21 -
Transportation Fund
$3,500
3. Net income for the period is $901,451, compared to a net income of $375,435 last year. However, depreciation expense has not been calculated at this time which may drastically alter net income for the fund.
TRANSPORTATION FUND 1. Total gas tax revenue for the period is down $2,314 compared to the same period last year. When factoring all revenues (except transfers in) are considered, total revenue decreased by $54,103 which is due to the grant for N. Broadway that was approved in FY 10. 2. Operating expenditures have decreased by $78,021 or 36%. This is primarily due to fewer repairs to roads and sidewalks in the current year. Additionally, in FY10, the Florida East Coast (FEC) railroad performed major renovations to two street crossovers which the Town was responsible for reimbursing FEC. When including capital and debt, the total expenditures decreased by $231,729, or 31.8%. 3. Expenditures exceeded revenues for the period by $43,448 compared to a loss of $204,464 last year.
INVESTMENT REPORT Income from investments continues to remain at all-time lows with the Federal Reserve eluding to continued low rates. At September 30th, the Town’s funds were in Florida Prime and SunTrust, with the majority in SunTrust. Florida Prime is the investment pool previously known as the State Board of Administration’s Local Governmental Investment Pool. As of the date of this memorandum, SunTrust continues to participate in the Qualified Pubic Depository (QPD) program where Town funds are guaranteed 100% above the $250k insured by the FDIC. Additionally, SunTrust continues to possess a three-star rating from BauerFinancial which indicates the bank is adequately funded.
-2-
MEMORANDUM Finance Department Most of the liquid funds from the Florida Prime (Pool A) 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 $175,886 in the pool which is liquid and available for withdrawal. In Pool B, the Town’s balance was $239,611 which is not liquid and is not available for withdrawal. While the total unrealized loss is $58,264 for all accounts, nothing has been realized (sold for a loss). This loss has actually decreased by $30,117 from the last quarter of FY10. However, we have since noticed that beginning in May, the unrealized loss is beginning to increase. We will continue to monitor this unfavorable trend. Unfortunately, since the funds are frozen, the Town has no options at this time. I hope you will find this report helpful, and as always, if you have any questions please do not hesitate to contact me.
-3-
BUDGET-IN-BRIEF as of September 30, 2011 (100% of year elapsed) YTD-Townwide Expense Allocation
Debt Capital 1,211,795 1,749,524 9% 13%
Wages 4,769,799 34%
Other Town Funds
Interfund Transfers 304,171 2%
Utility Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,947,000 648,110 5,595,110 5,595,110
Year-to-Date 4,777,225 4,777,225 3,937,972
% 96.6% 0.0% 85.4% 70.4%
Transportation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 499,800 758,803 1,258,603 1,258,603
Year-to-Date 454,180 454,180 497,627
% 90.9% 0.0% 36.1% 39.5%
Recreation Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 65,372 65,372 65,372
Year-to-Date 65,371
% N/A 0.0% 0.0% 100.0%
Police Education Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 4,000 500 4,500 4,500
Year-to-Date 4,511 4,511 3,881
% 112.8% 0.0% 100.2% 86.2%
% 97.0% 96.7% 91.0% 95.2% 33.5% 97.2%
Police Forfeiture Fund* Budget Total Revenues Total Expenses *Per Florida Statute fund is not budgeted
Year-to-Date 8,135 3,875
% 100% 100%
Grants Fund Revenues Appropriations & Carryover Total Revenues
Budget 2,245,554 2,245,554
Year-to-Date 349,966 349,966
% 15.6% N/A 15.6%
Total Expenses
2,245,554
410,266
18.3%
Insurance Fund Revenues Appropriations & Carryover Total Revenues Total Expenses
Budget 412,109 412,109 412,109
Year-to-Date 412,109 412,109 344,911
% 100.0% N/A 100.0% 83.7%
Benefits 2,565,544 18% Operating & Maint. 3,332,533 24% General Fund Revenues Revenues Budget Year-to-Date Taxes 4,301,525 4,001,545 Licenses & Permits 375,070 416,119 Intergovernmental Revenue 1,056,664 958,342 Charges for Services 1,557,267 1,516,166 Fines & Forfeitures 77,000 181,135 Misc. Revenue 431,663 486,829 Interfund Transfers 65,355 65,371 Debt Proceeds Appropriations & Carryover 1,421,975 Total Revenues $ 9,286,519 $ 7,625,507
Expenditures Town Council Town Manager Finance Town Attorney Non-Departmental Police
General Fund Expenditures Budget Year-to-Date 88,230 85,555 186,285 180,156 337,642 307,099 152,438 145,086 84,048 28,198 3,736,115 3,631,264
Development Services
% 93.0% 110.9% 90.7% 97.4% 235.2% 112.8% 100.0% 0.0% 0.0% 82.1%
611,396
596,325
97.5%
2,066,087 151,815 3,000 1,501,013 122,150 238,800 7,500 9,286,519
1,999,698 139,879 2,871 1,192,575 121,957 238,800 $ 8,669,463
96.8% 92.1% 95.7% 79.5% 99.8% 100.0% 0.0% 93.4%
YTD-Total Townwide Budget Expenditures Budget Year-to-Date Total Townwide Budget 18,867,767 13,929,491
% 73.8%
Operations Department Library Holiday Events Capital Outlay Debt Service Interfund Transfers Out General Contingency Total Expenditures
$
(not including Police Forfeiture Fund)
-4-
TOWN OF LANTANA, FLORIDA General Fund Balance Sheet (unaudited) September 30, 2011 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-
$
8,972,015 254,190 45,874 10,553 3,128 9,285,760
Prior Year
$
$
9,732,741 139,158 33,434 11,327 1,401 15,642 9,933,703
79,056 8,506
81,597 37,473
139,952 169,137 396,651
137,004 206,730 462,804
5,224 -
19,926 -
8,883,885 8,889,109 9,285,760
9,450,973 9,470,899 9,933,703
$
TOWN OF LANTANA, FLORIDA General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (unaudited) Period Ended September 30, 2011
Revenues: Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Miscellaneous Use of Fund Balance Total revenues Expenditures: Current: General government Public safety Development services Physical environment Culture and recreation Capital outlay Debt service: Principal & Interest General contingency Total expenditures Deficiency of revenues under expenditures Other financing sources: Sale of general fixed assets Operating transfers in Operating transfers out Use of Fund Balance-capital carryfwd Capital lease/Loan Proceeds Total other financing sources Deficiency of revenues and other financing sources under expenditures
Variance Favorable (Unfavorable)
Prior Year Actual
Budget
Actual
$ 4,301,525 375,070 1,056,664 1,557,267 77,000 425,663 288,690 8,081,879
$ 4,001,546 416,119 958,341 1,516,166 181,135 483,239 7,556,546
848,643 3,736,115 611,396 893,746 1,327,156 1,501,013
746,093 3,631,265 596,325 868,127 1,274,321 1,192,575
102,550 104,850 15,071 25,619 52,835 308,438
706,618 3,705,891 605,957 860,751 1,385,909 396,941
122,150 7,500 9,047,719
121,957 8,430,663
193 7,500 617,056
121,957 7,784,024
91,723
67,459
(965,840)
(874,117)
6,000 65,355 (238,800) 1,133,285 965,840
3,590 65,371 (238,800) (169,839)
-
Fund balance, beginning of year
(1,043,956) 9,933,065 $ 8,889,109
FUND BALANCE, END OF PERIOD
-6-
$
(299,979) 41,049 (98,323) (41,101) 104,135 57,576 (236,643)
(2,410) 16 (1,133,285) (1,135,679)
$ 4,504,894 391,559 969,248 1,488,039 97,517 400,226 7,851,483
7,400 60,000 (255,410) (188,010) (120,551) 9,591,450 $ 9,470,899
TOWN OF LANTANA, FLORIDA General Fund Schedule of Revenues and Other Financing Sources – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget
Actual
$ 2,242,525 703,000 963,000 393,000 4,301,525
$ 2,264,607 543,388 901,241 292,310 4,001,546
252,350 122,720 375,070
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) 22,082 (159,612) (61,759) (100,690) (299,979)
$ 2,714,901 557,965 905,590 326,438 4,504,894
248,058 168,061 416,119
(4,292) 45,341 41,049
251,002 140,557 391,559
110,000 287,664 20,000 10,000 617,000 12,000 1,056,664
81,401 290,375 22,662 11,020 526,622 26,261 958,341
(28,599) 2,711 2,662 1,020 (90,378) 14,261 (98,323)
85,950 288,906 21,782 10,065 509,623 52,922 969,248
756,000 104,000 650,037 47,230 1,557,267
721,233 98,417 648,119 48,397 1,516,166
(34,767) (5,583) (1,918) 1,167 41,101
735,640 100,346 604,823 47,230 1,488,039
77,000
181,135
104,135
97,517
Miscellaneous revenues: Interest Beach parking Contributions Leases Chancellor Academy Other Total miscellaneous revenues
35,000 219,000 4,659 136,050 14,954 16,000 425,663
37,409 238,470 4,659 141,098 14,954 46,649 483,239
2,409 19,470 5,048 30,649 57,576
75,064 205,505 5,300 75,946 14,954 23,457 400,226
Other financing sources: Sale of general fixed assets Interfund Transfers Capital Carryover Use of Fund Balance Loan Proceeds Total other financing sources TOTAL REVENUES
6,000 65,355 1,133,285 288,690 1,493,330 $ 9,286,519
3,590 65,371 68,961 $ 7,625,507
Licenses and permits: Business services taxes Building and other permits Total licenses and permits
Fines and forfeitures
-7-
$
Prior Year Actual
(2,410) 16 (1,133,285) (288,690) (1,424,369) $ (1,661,012)
7,400 60,000 67,400 $ 7,918,883
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget General government: Legislative: Personal services Operating Total Legislative
$
Actual
80,630 7,600 88,230
$
79,136 6,418 85,554
Variance Favorable (Unfavorable)
$
1,494 1,182 2,676
Prior Year Actual
$
77,962 4,718 82,680
Executive: Personal services Operating Capital Total Executive
105,340 18,235 2,811 126,386
103,733 15,054 2,775 121,562
1,607 3,181 36 4,824
108,229 14,251 61,012 183,492
Town Clerk: Personal services Operating Capital Total Town Clerk
45,480 17,230 2,000 64,710
45,471 15,898 1,887 63,256
9 1,332 113 1,454
45,451 12,364 57,815
Financial Administration: Personal services Operating Capital Total Financial Administration
231,310 106,332 22,000 359,642
223,798 83,301 4,286 311,385
7,512 23,031 17,714 48,257
220,108 77,014 14,826 311,948
Legal Counsel: Personal services Operating Total Legal Counsel
13,080 139,358 152,438
13,078 132,008 145,086
2 7,350 7,352
12,202 123,204 135,406
84,048 84,048 875,454
28,198 28,198 755,041
55,850 55,850 120,413
11,115 11,115 782,456
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 September 30, 2011
Budget Public Safety: Administration: Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
248,820 69,457 318,277
261,457 63,043 324,500
2,259,580 178,828 195,887 2,634,295
2,175,299 175,345 74,684 2,425,328
84,281 3,483 121,203 208,967
2,180,571 154,731 32,328 2,367,630
Services: Personal services Operating Capital Total Police Services
465,610 145,786 611,396
436,398 137,532 573,930
29,212 8,254 37,466
578,835 113,825 692,660
Uniformed Patrol (Hypoluxo): Personal services Operating Capital Total Police Services
349,130 18,904 368,034
360,365 21,826 382,191
(11,235) (2,922) (14,157)
329,219 16,073 345,292
3,932,002
3,705,949
Uniformed Patrol: Personal services Operating Capital Total Uniformed Patrol
Total Public Safety
-9-
(12,637) 6,414 (6,223)
Prior Year Actual
226,053
264,932 67,705 332,637
3,738,219
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Development Services: Administration : Personal services Operating Capital Total Administration
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
168,520 13,218 257,336 439,074
169,010 11,375 255,998 436,383
(490) 1,843 1,338 2,691
172,471 11,916 20,473 204,860
118,750 134,781 1,000 254,531
117,254 128,218 911 246,383
1,496 6,563 89 8,148
116,703 129,051 245,754
157,520 18,607 176,127
153,560 16,908 170,468
3,960 1,699 5,659
157,330 18,486 175,816
Total Development Services
869,732
853,234
16,498
626,430
Physical Environment: Operations Administration Personal services Operating Capital Total Public Works Administration
120,310 15,048 135,358
121,638 13,886 135,524
(1,328) 1,162 (166)
118,413 11,866 130,279
71,500 12,802 6,500 90,802
69,250 15,486 5,925 90,661
2,250 (2,684) 575 141
69,262 15,497 84,759
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 September 30, 2011
Budget Solid waste control services: Personal services Operating Capital Total Solid Waste Control Services
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
209,680 79,496 200,000 489,176
215,732 67,452 198,959 482,143
(6,052) 12,044 1,041 7,033
213,078 60,152 273,230
227,170 84,996 312,166
225,486 69,721 295,207
1,684 15,275 16,959
228,258 73,797 302,055
55,260 17,484 180,000 252,744
56,561 12,915 176,838 246,314
(1,301) 4,569 3,162 6,430
55,169 15,259 70,428
1,280,246
1,249,849
30,397
860,751
18,148 122,150 140,298
10,272 121,957 132,229
7,876 193 8,069
21,228 66,387 121,957 209,572
Library: Personal services Operating Capital Total library Services
102,820 48,995 20,023 171,838
102,534 37,345 19,360 159,239
286 11,650 663 12,599
105,466 42,783 18,425 166,674
Marine Services: Personal services Operating Capital Total Marine Services
292,550 15,380 307,930
310,753 14,830 325,583
(18,203) 550 (17,653)
300,458 13,186 313,644
Public Grounds & Forestry: Personal services Operating Capital Total Public Grounds & Forestry
309,100 211,080 455,336 975,516
313,307 163,630 417,304 894,241
(4,207) 47,450 38,032 81,275
308,117 175,323 220,606 704,046
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
- 11 -
TOWN OF LANTANA, FLORIDA General Fund Schedule of Expenditures and Other Financing Uses – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Building Maintenance: Personal services Operating Capital Total Building Maintenance
Actual
Variance Favorable (Unfavorable)
Prior Year Actual
167,080 159,003 158,120 484,203
173,389 145,389 33,648 352,426
Miscellaneous: Holiday events Total Miscellaneous Total Culture and Recreation
3,000 3,000 2,082,785
2,872 2,872 1,866,590
128 128 216,195
32,571 32,571 1,776,168
Debt Service Transfers Out General Contingency TOTAL EXPENDITURES
238,800 7,500 9,286,519
238,800 $ 8,669,463
7,500 617,056
255,410 8,039,434
$
- 12 -
(6,309) 13,614 124,472 131,777
$
186,285 134,105 29,271 349,661
$
TOWN OF LANTANA, FLORIDA Utility Fund Balance Sheet (unaudited) September 30, 2011 Current Year Assets and Other Debits: Assets: Cash and cash equivalents Investments Accounts receivable Restricted Assets Other Total current assets
$
Fixed assets Land Buildings Improvements Machinery and equipment Intangibles Construction in progress
$
Liabilities, Equity and Other Credits: Liabilities: Accounts payable Notes Payable Other liabilities Payable from restricted assets: Accrued wages payable Deposits Revenue refunding bonds Deferred revenue Total liabilities Net Assets: Contributed capital Reserved Unreserved Total net assets $
Total liabilities, equity and other credits
- 13 -
$
4,300 509,892 20,053,649 798,208 19,142 403,929 21,789,120 (11,046,072) 10,743,048
Less accumulated depreciation & amortization Net fixed assets Unamortized bond costs Total assets and other debits
7,901,998 342,584 167,737 410,930 8,823,249
Prior Year
1,432,229 20,998,526
7,224,310 136,238 95,341 410,090 7,865,979 4,300 942,809 19,212,312 983,219 356,392 21,499,032 (10,872,395) 10,626,637
$
1,599,203 20,091,819
819,379 2,170,701 542,511
717,962 2,433,277 531,270
171,791 195,558 5,675,000 9,574,940
164,062 172,932 6,060,000 10,079,503
2,445,897 1,639,328 7,338,361 11,423,586
2,445,897 2,145,675 5,420,744 10,012,316
20,998,526
$
20,091,819
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Revenues: Water sales Wastewater sales Miscellaneous Total operating revenues Expenditures: Operating expenses Water/Sewer plant operations Personnel Current expenses Total
$
Actual
2,395,000 2,400,000 134,000 4,929,000
$
2,311,626 2,300,824 135,756 4,748,206
Variance Favorable (Unfavorable) $
(83,374) (99,176) 1,756 (180,794)
$
2,293,508 2,308,595 336,292 4,938,395
781,970 1,723,824 2,505,794
767,571 1,313,236 2,080,807
846,955
770,795
76,160
732,336
Debt Services Capital outlay
1,047,200 1,157,361 2,204,561
782,260 304,110 1,086,370
264,940 853,251 1,118,191
790,249 940,979 1,731,228
Total operating expenses
5,557,310
3,937,972
1,619,338
4,627,651
Administrative expenses
Operating income/(loss)
14,399 410,588 424,987
Prior YTD Actual
770,629 1,393,458 2,164,087
(628,310)
810,234
(1,800,132)
310,744
Non-operating revenues (expenses) Investment income Sale of assets Contingency Retained Earnings-capital carryforward
18,000 (37,800) 648,110
91,217 -
73,217 37,800 (648,110)
64,691 -
Total non-operating revenues (expenses)
628,310
91,217
(537,093)
64,691
-
901,451
901,451
375,435
Net income/(loss) Net assets, beginning Net assets, ending
10,522,135 $ 11,423,586
- 14 -
9,636,881 $ 10,012,316
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Administrative Legislative: Personal services Operating Total legislative Executive: Personal services Operating Capital
$
Actual
53,770 4,800 58,570
$
52,777 4,347 57,124
Variance Favorable (Unfavorable)
$
993 453 1,446
Prior Year Actual
$
51,988 3,149 55,137
100,540 18,235 118,775
102,134 14,965 117,099
(1,594) 3,270 1,676
108,225 14,285 122,510
Town Clerk: Personal services Operating
30,330 11,655
30,312 10,648
18 1,007
30,306 8,380
Total Town Clerk
41,985
40,960
1,025
38,686
399,830 138,602 3,000 541,432
372,826 110,670 1,716 485,212
27,004 27,932 1,284 56,220
366,095 113,296 479,391
3,280 69,013 72,293
3,272 63,677 66,949
8 5,336 5,344
3,115 29,518 32,633
5,000 8,900 13,900
3,451 3,451
5,000 5,449 10,449
3,979 3,979
846,955
770,795
76,160
732,336
Total executive
Financial administration: Personal services Operating Capital Total Financial Administration Legal: Personal services Operating Total Legal Non Departmental: Personal services Operating Capital Total Non Departmental Total Administrative
- 15 -
TOWN OF LANTANA, FLORIDA Utility Fund Statement of Expenditures – Budget and Actual (unaudited) Period Ended September 30, 2011
Budget Operations/Utilities Utilities Administration Personal services Operating Capital
Actual
Variance Favorable (Unfavorable)
124,220 16,748 140,968
124,801 16,418 141,219
71,500 12,802 84,302
69,063 10,281 79,344
396,430 524,736 842,361 1,763,527
406,813 482,131 160,694 1,049,638
(10,383) 42,605 681,667 713,889
392,359 476,639 780,082 1,649,080
189,820 1,169,538 315,000 1,674,358
166,894 804,406 143,416 1,114,716
22,926 365,132 171,584 559,642
187,348 894,312 157,547 1,239,207
Total operations/utilities
3,663,155
2,384,917
1,278,238
3,105,066
Debt Services Contingency
1,047,200 37,800
782,260 -
264,940 37,800
790,249 -
$ 5,595,110
$ 3,937,972
1,657,138
$ 4,627,651
Total Public Works Administration Vehicle Maintenance Personal services Operating Capital Total Vehicle Maintenance Water/waterplant operations Personal services Operating Capital Total Water plant operations Wastewater operations Personal services Operating Capital Total Wastewater operations
TOTAL EXPENDITURES
- 16 -
(581) 330 (251)
Prior Year Actual
2,437 2,521 4,958
$
121,865 12,030 3,350 137,245 69,057 10,477 79,534
TOWN OF LANTANA, FLORIDA Transportation Fund Balance Sheet (unaudited) September 30, 2011 Current Year Assets and Other Debits: Assets: Cash and cash equivalents SBA Investment Accounts Receivable Total assets and other debits
$
785,920 24,074 809,994
Prior Year
$
800,207 13,177 813,384
Liabilities, Equity and Other Credits: Liabilities: Accounts Payable Total Liabilities
9,295 9,295
92,307 92,307
Fund balances: Unreserved: Designated for capital improvements Undesignated Total Equity
800,699 800,699
721,077 721,077
Total Liabilities and Equity
$
- 17 -
809,994
$
813,384
TOWN OF LANTANA, FLORIDA Transportation Fund Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (unaudited) Period Ended September 30, 2011
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
$
260,000 1,000 389,000 369,803 238,800
$
212,854 2,525 238,800
$
(47,146) 1,525 -
$
215,168 48,639 5,675 255,410
1,258,603
454,179
(45,621)
524,892
121,000 4,000 1,750 300 46,883 2,050 1,000 176,983
97,607 1,057 310 36,353 2,570 465 138,362
23,393 4,000 693 (10) 10,530 (520) 535 38,621
90,273 973 240 122,113 1,828 956 216,383
773,120 308,500 1,081,620
51,687 307,578 359,265
721,433 922 722,355
205,395 307,578 512,973
-
-
-
-
1,258,603
497,627
799,597
729,356
(43,448)
(43,448)
(204,464)
Expenditures: 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
844,147
FUND BALANCE, END OF PERIOD
844,147 $
- 18 -
800,699
925,541 $
721,077
TOWN OF LANTANA, FLORIDA General, Utility, & Transportation Fund Investment Earnings Quarter Closing September 30, 2011 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
0.30%
0.30%
0.27%
0.26%
0.26%
0.27%
0.27%
0.24%
0.23%
0.21%
0.23%
0.24%
0.27%
176,797
176,809
176,822
176,835
176,849
176,862
13
13
13
14
13
15
176,809
176,822
176,835
176,849
176,862
183,415
183,428
183,441
183,454
13
13
13
183,428
183,441
6,815 -
176,877 -
176,891 -
176,905 -
176,918 -
176,930 -
176,945 -
176,797
14
14
13
13
14
15
163
176,877
176,891
176,905
176,918
176,930
176,945
176,959
176,959
183,469
183,482
183,498
183,512
183,527
183,540
183,554
183,568
183,415
14
14
15
183,454
183,469
183,482
6,815
6,816
6,816
-
-
-
Utility Fund Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
-
-
-
-
-
-
15
14
14
13
15
15
169
183,498
183,512
183,527
183,540
183,554
183,568
183,583
183,583
6,817
6,817
6,818
6,818
6,819
6,819
6,820
6,820
6,815
-
-
-
-
-
-
-
-
-
*
Impact Fee Reserve Beginning Bal.
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
1
0
1
1
1
1
1
1
1
0
1
1
6
6,815
6,816
6,816
6,817
6,817
6,818
6,818
6,819
6,819
6,820
6,820
6,821
6,821
27,339
27,341
27,343
27,345
27,347
27,349
27,351
27,353
27,356
27,358
27,359
27,362
27,339
-
-
-
-
-
-
-
-
-
-
-
-
1998 Reserve Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
2
2
2
2
2
2
2
2
2
2
2
2
25
27,341
27,343
27,345
27,347
27,349
27,351
27,353
27,356
27,358
27,359
27,362
27,364
27,364
4,008
4,008
4,008
4,009
4,009
4,009
4,010
4,010
4,010
4,011
4,011
4,011
4,008
-
-
-
-
-
-
-
-
-
-
-
-
-
RR&I Beginning Bal. Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
0
0
0
0
0
0
0
0
0
0
0
0
4
4,008
4,008
4,009
4,009
4,009
4,010
4,010
4,010
4,011
4,011
4,011
4,012
4,012
- 19 -
October
November
December
January
February
March
April
May
June
July
August
September
Total
Bond Fund Beginning Bal.
16,743
16,744
16,745
16,746
16,748
16,749
16,750
16,752
16,753
16,754
16,755
16,757
-
-
-
-
-
-
-
-
-
-
-
-
Transfers In (Out) Admin. Charges Investment Earnings Ending Bal.
16,743
1
1
1
1
1
1
1
1
1
1
1
1
15
16,744
16,745
16,746
16,748
16,749
16,750
16,752
16,753
16,754
16,755
16,757
16,758
16,758
30 30
30 30
30 30
33 33
31 31
35 35
33 33
33 33
30.81 31
29.70 30
33.29 33
34.26 34
382 382
13 16 1 30
13 16 1 30
13 16 1 30
14 17 1 33
13 16 1 31
15 19 1 35
14 18 1 33
14 17 1 33
13 16 1 31
13 16 1 30
14 18 1 33
15 18 1 34
163 204 15 382
SBA TOTALS Total Investment Earnings Total Admin. Charges Net Investment Earnings
-
Investment Earnings Net of Admin. Charges General Fund Utility Fund Transportation Fund
SUNTRUST BANK ACCOUNTS Checking Account Earnings Investment Credit Per SunTrust General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund Bank Charges (net of interest credit)
0.220% 1,641 1,295 141 12 (397)
0.220% 1,546 1,218 129 11 (169)
0.180% 1,336 1,115 107 9 (142)
0.180% 1,492 1,102 101 9 (157)
0.200% 1,331 1,013 89 9 (524)
0.180% 1,410 1,145 131 10 (708)
0.180% 1,349 1,101 124 10 766
0.170% 1,255 1,090 116 9 (117)
0.150% 1,053 990 102
2,692
2,734
2,425
2,548
1,918
1,989
3,349
2,353
Operating Water Plant Reserve
18,009,952 372,008
18,011,773 372,070
19,006,212 372,149
19,329,230 372,228
19,228,340 372,299
19,373,184 372,384
19,188,576 372,445
Ending Balances
18,381,961
18,383,843
19,378,361
19,701,457
19,600,639
19,745,568
19,561,021
1,653 1,311 142 0 12 3,119
1,558 1,234 130 0 11 2,933
1,349 1,131 108 0 9 2,597
1,506 1,120 103 0 9 2,737
Investment Earnings
0.150% 1,077 1,032 101 0 8 (304)
0.120% 865 837 78 0 7 (102)
0.120% 851 799 75 0 6 (237)
0.19% 15,204 12,737 1,295
1,991
1,914
1,684
1,495
27,094
19,172,979 372,508
19,230,930 372,570
18,872,063 372,633
19,180,767 372,688
18,940,196 372,734
19,545,487
19,603,499
19,244,696
19,553,455
19,312,930
1,269 1,107 117.48 0 9 2,503
1,066.56 1,006.24 103.20 0 8 2,184
1,089.21 1,047.72 102.31 0 8 2,248
879.07 854.48 79.70 0 7 1,820
865.75 817.68 76.03 0 6 1,766
8 (162)
110 (2,252)
Checking Account Ending Balances per Statement
TOTAL INVESTMENT EARNINGS BY FUND General Fund Utility Fund Transportation Fund Recreation Fund Forfeiture Fund $
$
$
$
$
1,344 1,029 91 0 9 2,473
$
- 20 -
1,425 1,164 132 0 10 2,731
$
1,363 1,119 125.69 0 10 2,617
$
$
$
$
$
$
15,367 12,941 1,311 0 110 29,728
Investment Income $0 Oct Dec Feb Apr Jun Aug
$500
$1,000
1,653 1,558 1,349 1,506 1,344 1,425 1,363 1,269 1,067 1 067 1,089 879 866 General Fund
$1,500
$2,000
$2,500
$3,000
1,311 142 1,234 130 1,131 108 1,120 103 1,029 91 1,164 132 1,119 126 1,107 117 1,006 103 1 006 103 1,048 102 854 80 818 76 Utility Fund
- 21 -
Transportation Fund
$3,500
