HomeMy WebLinkAbout2010-01-26 - City Commission Special Workshop Meeting MinutesSPECIAL WORKSHOP
' QUARTERLY FINANCIAL UPDATE
Tuesday, January 26, 2010
CALL TO ORDER: Mayor Talabisco called the special workshop meeting to order at
9:00 a.m. on Tuesday, January 26, 2010 at the Tamarac Recreation Center, 7501 N
University Drive, Tamarac, FL.
PRESENT: Mayor Beth Talabisco, Vice -Mayor Harry Dressler, Commissioner Pamela
Bushnell, Commissioner Patricia Atkins -Grad, and Commissioner Diane Glasser.
ALSO PRESENT: City Manager Jeffrey L. Miller, Assistant City Attorney Julie Klahr,
Deputy City -Manager- Michael C. Cernech, Assistant City Manager Diane Phillips,
Financial Services Director Mark Mason, Human Resources Director Maria Swanson,
Public Works Director Jack Strain, Community Development Director Jennifer Bramley,
Chief Building OfficialDirector Claudio Grande, Fire Chief Mike Burton, Director of
Parks and Recreation Greg Warner, Director of Utilities Ray Gagnon, I.T. Director
Levent Sucuoglu, City Clerk Marion Swenson, Public and Economic Affairs Officer Andy
Berns, and Management and Budget Analyst Kareyann Ashworth.
t Mayor Talabisco spoke of a possible recycling center across from Hamptons Inn off the
Sawgrass Expressway on Commercial Boulevard in the City of Sunrise. City Manager
Miller said the City would follow the item and keep the Mayor and City Commission
informed as to its progress.
Mayor Talabisco led the pledge of allegiance.
City Manager Miller said staff is responding to a request from the Mayor and City
Commission for additional financial information in preparation for the June/July budget
workshops, public hearings and adoption of the FY11 budget. Staff is not asking the
Mayor and City Commission to make any decisions today.
Financial Services Director Mason gave a presentation on the City of Tamarac's
financial report for the 15t quarter FY2010 as well as a financial outlook FY2010 and
beyond (a copy of which is attached and incorporated as part of these minutes.)
Mayor Talabisco called for a recess at 10:17 a.m. and reconvened the special workshop
at 10:37 with all present as before.
Page 1 of 2 January 26, 2010 Quarterly Financial Update
Deputy City Manager Cernech spoke of the budget process and upcoming financial
updates that will be provided to the Mayor and City Commission to keep them engaged I
in the City's financial matters.
Assistant City Attorney Klahr informed the Mayor and City Commission there is a statute
in place that sets forth the process should the Mayor and City Commission disagree
with any decisions made by the City of Sunrise with regard to the recycling station.
There being no further business to come before the Mayor and City Commission, Mayor
Talabisco adjourned the special workshop quarterly financial update at 12:10 p.m.
..........
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Marion Swenson, CIVIC --
City Clerk = __ - T
l
Page 2 of 2 January 26, 2010 Quarterly Financial Update
CITY OF TAMARAC
INTEROFFICE MEMORANDUM
TO: Jeffrey L. Miller
City Manager
FROM: Mark C. Mason
Director of Financial Services
DATE: January 25, 2010
RE: Quarterly Financial Review —18'
Quarter FY 2010
The purpose of this report is to provide the Mayor and City Commission with the status of the Fiscal Year 2010
Budget. This report covers the period of October 2009 through December 2009.
The City Commission adopted a balanced budget for fiscal year 2010 totaling $94.6 million. This budget has been
adjusted as a result of prior year encumbrances (commitments related to unperformed contracts for goods and
services) having been rolled -over into the new fiscal year. Encumbrances that are not related to capital projects
must be re -budgeted. Budget amendment #1 will formally address this adjustment as well as various other
adjustments for consideration by the City Commission.
The financial transactions of the City are budgeted and accounted for within six types of funds. Each fund type
has a different source of revenue and/or certain restrictions on the use of the revenues.
The table below lists the current budget by fund type.
Fund Type
FY 2010 Adopted
FY 2010 Adjusted
Difference
General
$ 44,776,200
$ 47,701,513 $
2,925,313
Special Revenue
16,997,250
25,721,477
8,724,227
Debt Service
2,860,400
2,860,400
-
Capital Projects
1,755,000
8,571,601
6,816,601
Enterprise
25,920,150
30,121,058
4,200,908
Internal Service
2,276,850
2,278,525
1,675
Total
$ 94,585,850
$ 117,254,574 $
22,658,724
GENERALFUND
The General Fund provides basic City services and operations such as parks and recreation services, general
government, general planning, zoning and code enforcement, and general maintenance. The primary revenue
sources for the general fund are property taxes, half -cent sales tax, franchise fees, state -shared revenues, and
charges for services which include administrative service fees to other operating funds.
An analysis of current year revenues and expenditures indicates revenues above benchmark which is related to
the current period ad valorem tax revenue and expenditures as planned and within acceptable parameters.
Jeffery L. Miller
January 22, 2010
Page 2
Revenue
The table below provides a summary of the major revenue sources of the general fund.
ACTUAL ACTUAL ACTUAL
AS %OF AS %OF AS %OF
BUDGET BUDGET BUDGET
REVENUES BUDGET ACTUAL FY 2010 FY 2009 FY 2008
Property Tax $ 18,406,000 $ 14,600,538 79.32% 76.760/. 73.66%
Franchise Fees & Communication Services Tax 9,123,970 1,728,975 18.95% 17.61% 10.82%
Licenses & Permits 2,224,470 1,065,807 47.91% 34.490/0 33.730/
Shared Revenue 5,597,620 835,243 14.92% 16.09% 16.91%
Charges for Service 1,476,900 347,511 23.530/. 19.05% 21.20%
Other (Fines, Interest, Miscellaneous) 1,902,070 451,214 23.72% 8.61% 12.430/
Administrative Service Fees 5,633,070 1,408,268 25.000/. 25.00% 25.00%
Interfund Transfers 412,100 103,025 25.000/. 25.00% 25.000/
Total Current Revenues $ 44,776,200 $ 20,540,561 45.87% 41.48% 41.130/
Reserves & Surplus 2,925,313 - 0.00% 100.00% 100.00%
Total Revenues $ 47,701,513 $ 20,540,581 43.06% 41.48% 41.13%
Property Tax
Property tax is the single largest revenue source in the general fund and represents 38.6% of budgeted revenue
sources and 41.1% of the actual current revenue (total revenue less reserves). Property tax revenue is collected
by the Broward County Revenue Collector with periodic distribution being made to the various taxing authorities.
Per Truth in Millage (TRIM) requirements, the City budgets at 95% to allow for discounts and delinquencies. Tax
bills are sent to property owners in late October/early November with unpaid taxes becoming delinquent on April 1
of each year.
Franchise Fees & Communication Services Tax
Franchise fees are collected for electric, solid waste and towing on a monthly basis with direct remittance to the
City from service providers. The communications services tax is applicable to cable and telephone services
(replaced franchise fees) and payment from providers is made to the State of Florida who remits the amount less
a collection fee back to counties and municipalities on a monthly basis.
Licenses & Permits
Recorded year-to-date revenues are at 47.9% of budget. Fees for the permitting and inspection activities are
above the 25% benchmark due to the increase in the number of permits issued from the same period last year.
The number of permits issued in the first quarter of 2010 was 1,287. This compares to 1,151 in the first quarter of
2009.
The 2010 business tax revenue, formally occupational license fees, was primarily received in fiscal year 2009 with
the revenue recorded as unearned until the start of the fiscal year 2010 as licenses are effective from October 1
through September 30. Of the established budget of $680,000, 89.0% or $605,366 has been realized.
Shared Revenue
The half -cent sales tax is the second largest single source of revenue in the general fund and the largest of the
state -shared revenues. The distribution program is supported by the transfer of 8.814% of the state's net sales
tax proceeds into the Local Government Half -Cent Sales Tax Clearing Trust Fund. The actual distribution to
counties and municipalities is based on a population formula.
Jeffery L. Miller
January 22, 2010
Page 3
Receipts for the first three months of the year are below benchmark for the half cent sales tax. The half -cent sales
tax is budgeted at $2,888,700 with actual receipts of $469,027 which is 5.65% of the budgeted amount. Typically,
funds received in January, February and May represent three of the largest distributions for the year as they
relate to sales tax generated from December through April sales.
Charges for Service
This revenue category consists of City fees related to general government, public safety, physical environment,
transportation, and culture/recreation. Fees for these services are slightly below the 25% benchmark. Revenues
are budgeted at $1,476,900 of which $347,511 or 23.5% has been recorded. Fees for culture/recreation activities
are below the 25% benchmark at 18.7% collection rate to date. This is primarily due to the Aquatic Center pool
area being closed from December through February of each year.
Other (Fines, Interest, Miscellaneous)
Other revenue is at 10.1% of budget. Ordinance violations are budgeted at $125,210 with $73,400 received
through December 31st. Interest income is budgeted at $565,920 for which the earnings will be recorded
following the completion of the Comprehensive Annual Financial Report (CAFR).
Administrative Service Fees
A component of this category is the interfund service payments from the enterprise funds based on the annual full
cost allocation plan. The budgeted amount for the full cost allocation charges is transferred monthly at a 1/12
basis of a calculated reimbursement for general administrative support.
Interfund Transfers
Interfund transfers include the reimbursement to the General Fund from the Special Revenue funds through the
full cost allocation plan with transfers occurring monthly on a 1/12 basis.
Expenditures
The table below provides information on first quarter expenditures for the general fund by department.
TOTAL %OF
BUDGETED ACTUAL INCLUDING BUDGET
DEPARTMENT
EXPENDITURES
EXPENDITURES
ENCUMBRANCES
ENCUMBRANCES
UTILIZED
City Commission
$ 703,330
$ 237,665
$ 3,475
$ 241,140
34.29%
City Manager
1,812,320
428,571
66,427
494,998
27.31%,
City Attorney
497,100
86,120
294,553
380,673
76.58%
City Clerk
686,190
224,535
68,499
293,034
42.70%
Financial Services
1,826,520
393,914
52,973
446,887
24.47%
Human Resources
957,417
256,318
25,874
282,192
29.47%
Community Development
1,331,645
301,437
19,791
321,228
24.12%,
Building
1,765,826
448,726
11,431
460,157
26.06%
BSO
10,916,050
2,740,975
88,906
2,829,881
25.92%
Public Works
9,529,450
1,784,037
1,105,563
2,889,600
30.32%
Parks & Recreation
4,030,315
966,430
306,493
1,272,923
31.58%
Information Technology
1,518,420
353,477
32,726
386,203
25.43%
Non -Departmental
12,126,930
65,778
54,993
120,771
1.000/0
Total Expenditures
$ 47,701,513
$ 8,287,983
$ 2,131,704
$ 10,419,687
21.840/a
The expenditures for most departments are at or very near benchmark levels of 25.0%
Jeffery L. Miller
January 22, 2010
Page 4
• City Commission is above the 25.0% benchmark as annual membership payments for the Florida League
of Cities, Florida League of Mayors and Broward League of Cities have been made. In addition, grants
and aid payments have been distributed to both the Tamarac Chamber of Commerce and the Aging and
Disability Resource and represent 34.8% of actual expenditures.
• The City Manager's office exceeds the benchmark due to encumbrances of $66,427. A significant
encumbrance of $54,643 is for Franklin Communications, for printing publications on behalf of the Public
Information Board Division.
• The City Attorney's office exceeds the benchmark due to an encumbrance of $294,553 which represents
the contract for the City's legal counsel.
• The City Clerk Department within the general fund exceeds the benchmark due to actual expenditures of
$224,535. Significant operating expenditures include $73,677 for election costs and $14,826 for
advertising costs.
• The Human Resources Department is above the benchmark due to encumbrances of $25,874.
Significant encumbrances include $8,685 for US Healthworks — Florida for medical screenings for new
employees and $5,000 encumbrance for job advertisements placed in area newspapers.
• The Public Works Department exceeds the benchmark primarily due to encumbrances for contractual
services. Significant encumbrances include $560,344 for Prestige Property Management for lawn
maintenance services including designated park sites and $183,638 for American Facility Services for the
City's custodial services.
• The Parks and Recreation Department is above the benchmark due to encumbrances of $306,493. A
significant encumbrance of $218,299 is for Jeff Ellis Management for the management of the aquatic
center pool facility.
The table below provides a summary of general fund expenditures by category.
DEPARTMENT
TOTAL
BUDGETED ACTUAL INCLUDING
EXPENDITURES EXPENDITURES ENCUMBRANCES ENCUMBRANCES
%OF
BUDGET
UTILIZED
Salaries
$ 9,792,020 $
2,495,705 $
$ 2,495,705
25.49%
Overtime
57,900
32,392
32,392
55.94%
Benefits
5,619,240
1,442,229
439
1,442,668
25.670/.
Contractual Services
14,116.157
3,182,854
2,056,766
5,239,620
37.12%
Travel
260,851
10,231
5,394
15,625
5.990/6
Other Operating
4,357,936
997,195
1,153,043
2,150,238
49.34%
Capital Outlay
2,383,149
44,637
53,053
97.690
4.10%
Non -Departmental
11,114,260
82.740
82,740
165,480
1.49%
Total
$ 47,701,513 $
8,287,983 $
3,351,435
$ 11,639,418
24.40%
Entries for the transfers from the general fund are included in the Non -Departmental category and include
$5,258,810 for Fire Rescue, $1,005,000 for General Capital Improvement, $2,601,700 for Revenue Bond (debt
service), and $200,000 for grant match.
Jeffery L. Miller
January 22, 2010
Page 5
DEBT SERVICE FUNDS
The debt service fund is used to account for long-term debt obligations for capital improvements funded by
general obligation bonds and/or revenue bonds. The primary revenue sources are property taxes and interfund
transfers. Currently, there are five bond issue payments made through these funds.
ACTUAL AS
FY 2010
FY 2010 YTD
OF BUDGET
REVENUES
ADJUSTED
ACTUAL
FY 2010
Property Tax
$ 258,700
$ 195,210
75.46%
Interfund Transfers
2,601,700
-
0.000/0
Total Revenues
$ 2,860,400
$ 195,210
6.820/0
EXPENDITURES
1998 GO Bonds
$ 258,700 $
0.000/0
1999 Revenue Bonds
693,600
0.000/0
2002 Revenue Bonds
1,054,200
0.000/0
2004 CIP Revenue Bond
6,000 2,500
41.67%
2005 Revenue Bonds
835,900
0.000/0
Various Fees
12,000 1,669
13.910
Total Expenditures
$ 2,860,400 $ 4,169
0.150/0
Principal payments for the various bonds are due annually while the interest is due semi-annually.
SPECIAL REVENUE FUNDS
Special revenue funds are used for specific purposes and the associated revenue is dedicated for a single
purpose only. The funds in this category include the fire assessment fee, Broward Sheriff law enforcement trust
fund (LETF), public art fees, various grants fund, community development block grant (CDBG), local housing
assistance (SHIP), Home (HUD) grant, community development block grant (CDBG) disaster recovery,
neighborhood stabilization (NSP), American Recovery and Reinvestment Act (ARRA) grant, and miscellaneous
donations and sponsorships. In addition to the current budgeted revenues that are anticipated during the fiscal
year, existing cash balances (reserves and surplus) are also budgeted in support of the expenditures that are
planned during the fiscal year.
The table on the following page provides a summary of the receipts through the end of the first quarter in the
various funds.
ACTUAL AS %
REVENUES
CURRENT
BUDGETED
REVENUE
RESERVES &
SURPLUS
TOTAL
BUDGET
ACTUAL
REVENUE
OF CURRENT
BUDGETED
REVENUE
Fire Rescue
$ 16.132,430
$ 1,649,943
$ 17,782,373
7,477,132
46.35%
Law Enforcement Trust
-
-
-
8,716
100.000%
Public Art
-
153,018
153,018
41,296
100.00%
Grants Fund
827,722
-
827,722
273,667
33.06%
Community Development Block Grant
995,741
-
995,741
79.611
8.00%
State Housing Initative Program
268,138
-
268,138
38.248
14.26%
Home (HUD)
166,400
-
166,400
18.429
11.08%
CDBG Disaster Recovery
936,739
-
936,739
-
0.00%
Neighborhood Stabilization Grant
4,046,446
-
4,046,446
1,117,202
27.61%
American Recovery & Reinvestment Act
544,900
-
544,900
-
0.00%
Donations & Sponsorship
-
-
-
6,911
100.00%
Total Revenues
$ 23,918,516
$ 1,802,961
$ 25,721,477
$ 9,061,212
37.88%
Jeffery L. Miller
January 22, 2010
Page 6
• The receipts in the fire rescue fund are related to the fees that are collected for transports, inspections,
plan reviews, and fire assessment. Fire Assessment fees are collected via property tax bill by the Broward
County Revenue Collector. Fees are distributed to the City periodically between November and April.
Receipts are budgeted at $8,785,400 of which 78.3% or $6,874,500 has been collected to date.
• Law Enforcement Trust funds are utilized to maintain a high level, competent and professional police
service. Funds are appropriated as programs are requested and approved by both BSO and the City.
• The Public Art fund was created to account for the public art activities in the City. Funds are appropriated
as artwork projects are brought to the Commission for consideration.
• The Grants fund accounts for a significant portion of grant activity in the City. Revenues are budgeted as
grant agreements are approved by the Commission via various resolutions.
• The Community Development Block Grant fund (CDBG) is an agreement between the US Department of
Housing and Urban Development (HUD) and accounts for revenues and expenditures related to housing
rehabilitation, qualified public safety programs, and public services. Reimbursement from HUD for first
quarter CDBG expenses is expected to be received in the second quarter.
• The State Housing Initiative Program (SHIP) fund is revenues received from the State Housing Initiatives
Partnership for the purpose of providing affordable housing. Reimbursement from the State for first
quarter SHIP expenses are expected to be received in the second quarter.
• The Home fund accounts for revenues received for low to middle income families who need assistance
with home rehabilitation in order to comply with City code. Requests are submitted periodically to
Broward County for reimbursement.
• The Community Development Block Grant Disaster Recovery fund accounts for revenues received from
Department of Community Affairs to address the City's needs following the 2005 hurricane season.
Funds are collected and reimbursed quarterly as with the CDBG fund. Reimbursement for first quarter
expenses is expected to be received in the second quarter.
• The Neighborhood Stabilization grant fund accounts for funds received from the Housing and Economic
Recovery Act of 2008 to address foreclosures and abandoned properties within the City. As with CDBG,
reimbursement for first quarter expenditures is expected to be received in the second quarter. The actual
revenues of $1,117,202, realized in the table above, are revenues rolled over from fiscal year 2009 which
were previously received and committed to expenditures.
• The American Recovery and Reinvestment Act (ARRA) fund accounts for various programs designed to
stimulate the economy. Revenues received are dedicated to the City's energy conservation initiatives.
• The Donations and Sponsorship fund is not budgeted on an annual basis however is designed to track
revenues received as contributions or donations. Such revenues are received from outside sources on
behalf of various programs such as United Way, Fire — Car Seat Program, Haiti Relief Fund, Historical
Society, etc.
The table below provides expenditure data for the special revenue funds.
Jeffery L. Miller
January 22, 2010
Page 7
TOTAL TOTAL AS
TOTAL ACTUAL INCLUDING % OF
EXPENDITURES BUDGET EXPENDITURES ENCUMBRANCES ENCUMBRANCES BUDGET
Fire Rescue $ 17,782,373 $ 3,934,174 $ 437,249 $ 4,371,423 24.58%
Law Enforcement Trust - 20,000 4,000 24,000 100.000/6
Public Art 153,018 640 30,261 30,901 20.199/6
Grants Fund 827,722 66,002 140,200 206,202 24.91%
Community Development Block Grant 995,741 141,833 215,556 357,389 35.89%
State Housing Initiative Program 268,138 99,785 138,193 237,978 88.75%
Home (HUD) 166,400 56,031 121,746 177,777 106.84%
CDBG Disaster Recovery 936,739 88,110 224,244 312,354 33.34%
Neighborhood Stabilization Grant 4,046,446 612,284 853,914 1,466,198 36.23%
American Recovery & Reinvestment Act 544,900 - - - 0.00%
Donations & Sponsorship - 946 442 1.388 100.00%
Total Expenditures $ 25,721,477 $ 6,019,805 $ 2,165,805 $ 7,185,610 27.94%
The expenditures for some funds are at or very near benchmark levels of 25%. Those funds include fire rescue,
public art and grants.
Expenditures currently approved via the Law Enforcement Trust fund will be brought forth for appropriation on
budget amendment #1. Funds have been approved by the Commission for both the NAYS program for Parks &
Recreation and the Tamarac Explorer Post program for BSO. Grant funds including Community Development
Block Grant, State Housing Initiative Program, Home, CDBG Disaster Recovery, Neighborhood Stabilization, and
American Recovery and Reorganization Act are all above the 25% benchmark. Reimbursement for first quarter
expenditures is expected to be received in the second quarter.
CAPITAL PROJECT FUNDS
Capital project funds are used to purchase and construct capital facilities and are typically multi -year projects.
These funds are supported by various funding sources such as existing cash, transfers from other operating
funds, and loan/debt proceeds. Only the current year appropriation is identified in the operating budget ordinance.
The transfers of existing City funds to these capital project funds are made periodically throughout the fiscal year.
Loan/debt proceeds are not typically obtained until the City begins incurring construction costs.
The following table provides expenditure data for the capital project funds.
BALANCE OF
TOTAL
%OF
PREVIOUS YEAR
FY 2010
TOTAL PROJECT
ACTUAL
INCLUDING
TOTAL
EXPENDITURES
APPROPRIATIONS
FUNDING
FUNDING
ENCUMBRANCES EXPENDITURES ENCUMBRANCES
UTILIZED
Aquatic Center Annex
$ 777,167
$ -
$ 777,167
$ 14,081 $
- $
14,081
1.81 %
Bikeway Paths
902,390
-
902,390
1,200
-
1,200
0.13%
Bldgs - HVAC R&R Program
132,856
95,000
227,856
-
-
-
0.00%
Bldgs - Roofing Sys R&R
291,247
160,000
451,247
-
-
-
0.00%
City Wide Guard Rail Impry
-
50,000
50,000
-
-
-
0.000/0
Comm Development Init
250,000
-
250,000
-
-
-
0.001/6
Fire St #41 & #78 - Facades
839,734
-
839,734
633,884
1,600
635,484
75.68%
Fire Station East
-
750,000
750,000
-
-
-
0.00%
Geographic Info System
90,114
-
90,114
-
-
-
0.00%
Hurricane Preparation
1,520,629
-
1,520,629
-
-
-
0.00%
Main Street Project
673,530
-
673,530
126,739
-
126,739
18.82%
Open Space Reclamation
150,546
-
150,546
-
-
-
0.00%
Pine Island Rd Overpass
-
168,000
168,000
-
-
-
0.00%
Sidewalk Repair & Maim
-
25,000
25,000
20,000
-
20,000
80.00%
Streets Improvement Prgm
517,176
-
517,176
41,204
-
41,204
7.97%
Tamarac Park Renovation
365,920
-
365,920
27B,810
16,053
294,863
80.581/.
Traffic Calming Program
-
25,0D0
25,000
-
-
-
0.00%
Waters Edge Park
305,292
482,000
787,292
-
-
-
0.00'/0
Total Expenditures
$ 6,816,601
$ 1,765,000
$ 8,571,601
$ 1,116,918 $
17,653 $
1,133,571
13.22%
Jeffery L. Miller
January 22, 2010
Page 8
Several capital improvement projects listed above currently do not have FY 2010 expenditures associated.
• Aquatic Center Annex also known as Skate Park includes a $14,081 encumbrance for consulting services
as it relates to the development of the park.
• The Bikeway Paths project includes an encumbrance of $1,200 for a planning consultant to assist with
the design of the park. Fire Station 41 & 78 Facades includes an encumbrance of $633,884 for the
remaining construction to be completed on the project.
• Main Street includes an encumbrance of $126,739 for engineering service in relation to the development
of the proposed Main Street corridor.
• Sidewalk Repair & Maintenance includes an encumbrance of $20,000 for Tran Construction for the
removal and installation of sidewalk as necessary.
• The Streets Improvement program includes an encumbrance of $41,204. Significant encumbrances
include $34,900 for Corzo Castella for design services for median improvements along Nob Hill Road
from Westwood Drive to Southgate Boulevard and $6,090 for Tran Construction to remove and replace
damaged curb along the southbound lanes of Hiatus Road south of McNab Road and north of NW 671"
Street.
• The Tamarac Park Renovation project is nearing completion. Significant encumbrances include $20,597
for various equipment purchases and $258,213 for the remaining construction of the facility.
ENTERPRISE FUNDS
Enterprise funds are used to account for services provided to specific users or segments of the community. The
funds are operated similar to a private business. The primary funding source for an enterprise fund is user fees.
The table on the following page provides a summary of the revenue budget for these funds.
CURRENT
ACTUAL AS %
OF CURRENT
BUDGETED
RESERVES &
TOTAL
ACTUAL
BUDGETED
REVENUES
REVENUE
SURPLUS
BUDGET
REVENUE
REVENUE
Stormwater Management
$ 4,991,030
$ 1,290,607
$ 6,281,637
$ 1,199,496
24.03%
Utilities
19,237,120
1,160,928
20,398,048
5,524,597
28.72%
Utilities C.I.A.0
-
388,690
388,690
-
100.00%
Utilities Renewal & Replacement
681,960
2,370,723
3,052,683
-
0.00%
Total Revenues
$ 24,910,110
$ 5,210,948
$ 30,121,058
$ 6,724,093
26.99%
Stormwater
The annual stormwater fees are currently collected on the water bills. Revenues are recognized per billing period.
As of the end of December, $1.2 million or 24% of budgeted revenue has been billed to customers with
$1,179,594 collected to date.
Utilities - Water & Sewer Fund
As illustrated in the table, year-to-date actual receipts, as a percentage of the current budget are slightly above
the first quarter benchmark of 25%. As of the end of December, $5.5 million or 29% of budgeted revenue has
been billed to customers with $6,946,422 collected to date. A capacity refund in the amount of $832,575 was
received from the Broward County Board of Commissioners
Jeffery L. Miller
January 22, 2010
Page 9
Utilities — Contribution in Aid of Construction
The primary source of revenue for this fund is impact fees charged to developers to assist with the expansion of
the utility's infrastructure made necessary by new development. Due to economic conditions and the City's
limited expansion opportunities, revenues for new development are non-existent. The budgeted revenue of
$388,690 was appropriated during the Capital Improvement Program rollovers to support the Main Street project
as currently funded.
Utilities — Renewal & Replacement
The primary source of revenue for this fund is an annual transfer from the Utilities Operating Fund and is used to
account for the State of Florida grant for wastewater. Revenues in this fund can only be used for renewal and
replacement of the sanitary sewer system.
The table below provides expenditure data for the enterprise funds
TOTAL TOTAL AS
TOTAL
ACTUAL
INCLUDING
%OF
EXPENDITURES
BUDGET
EXPENDITURES
ENCUMBRANCES
ENCUMBRANCES
BUDGET
Stormwater Management
$ 6,281,637
$ 583,115
$ 245,801
$ 828,916
13.200/6
Utilities
20,398,048
3,324,920
3,699,730
7,024,650
34.440/6
Utilities C.I.A.0
388,690
14,530
-
14,530
3.740/6
Utilities Renewal & Replacement
3,052,683
86,948
433,012
519,960
17.030/6
Total Expenditures
$ 30,121,058
$ 4,009,513
$ 4,378,543
$ 8,388,056
27.85%
Stormwater, Utilities CIAC and Utilities Renewal & Replacement are all significantly below the 25% benchmark for
the first quarter. The Utilities fund exceeds the benchmark due to encumbrances of $3,699,730. A significant
encumbrance includes $2,902,612 payable to Broward County Board of Commissioners for charges related to
wastewater disposal.
INTERNAL SERVICE FUNDS
The costs of these insurance programs are being budgeted and accounted for in an internal service fund. An
internal service fund is a type of proprietary fund — a fund used to account for a government's business -type
activities. Internal service funds are expressly designed to function on a cost -reimbursement basis.
The internal service fund receives revenue (charges for services) from the operating funds to cover the cost of
premiums, administrative charges of third party administrator, and claims. For property/casualty, monthly transfers
of funds are made from the general, water and sewer, and stormwater funds and are based on a percentage
value for each fund. For workers' compensation, revenue flows through payroll entries and are budgeted in each
individual department/division.
The table below provides a summary of the revenues and expenditures for this fund.
Jeffery L. Miller
January 22, 2010
Page 10
ACTUAL AS
%OF
CURRENT
CURRENT
BUDGETED
RESERVES &
ACTUAL
BUDGETED
REVENUES
REVENUE
SURPLUS
TOTAL BUDGET
REVENUE
REVENUE
Risk Management
$
2.278,525
$
$ 2,278,525
$
571,750
25.090/6
Total Revenues
$
2,278,525
$
$ 2,278,525
$
571,750
25.09%
TOTAL
TOTAL AS
TOTAL
ACTUAL
INCLUDING
% OF
EXPENDITURES
BUDGET
EXPENDITURES
ENCUMBRANCES
ENCUMBRANCES
BUDGET
Risk Management
$
2,278,525
$ 307,722
$ 37,439
$
345,161
15.15%
Total Expenditures
$
2,278,525
$ 307,722
$ 37,439
$
345,161
15.15%
The internal service fund for risk management paid $185,759 related to property/liability premiums, $15,588
related to flood premiums and $7,457 related to city property claims in the first quarter.
CONCLUSION
This report is intended to provide a summary level review of the budget to actual results of the various operating
funds. Additionally, it should be kept in mind that budget to actual results reported here are in a different format
than prescribed for financial reporting purposes and should not be confused.
For the first quarter the general fund expenses and encumbrances are at 21.8% of budget which is below the
benchmark of 25%. Special revenue funds expenses and encumbrances are 27.9% of budget and are above the
benchmark of 25%. This is primarily due to the reimbursement for first quarter expenditures are expected to be
received in the second quarter. Capital project funds expenses and encumbrances are 13.2% of budget which is
well below the benchmark of 25%. This is due to the nature of the capital projects with timing for startups of the
Capital Plan as well as current projects underway.
The enterprise funds overall are operating at anticipated levels to this point in the fiscal year. The internal service
funds expenditures are below the benchmark of 25%. Worker's Compensation quarterly premium is $69,708.
This expense is reflected in payroll expense for the quarter.
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