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Home My WebLink About2009 05 26 Regular 601 Fiscal Year 2009 2nd Quarter Financial ReportCOMMISSION AGENDA Consent ITEM 601 Informational Public Hearin X May 26, 2009 Special Meeting REQUEST: City Manager providing the Commission with the City's Fiscal Year 2009 2"d Quarter Financial Report. PURPOSE: This agenda item is needed for the Commission to receive a presentation from staff on the City's Fiscal Year 2009 2"d Qtr Financial Report. CONSIDERATIONS: At the January 12, 2009 Commission meeting, the City Manager indicated to the Commission that staff would begin the important process of providing regular, periodic Financial Reports to the Commission. On February 9, 2009, staff initiated that process by providing the Commission with the Fiscal Year 2009 1St Qtr Financial Report. At that time, staff indicated that this document was in the evolutionary stage and that we would continue to refine and enhance future reports to include: a narrative section discussing significant trends and variances, and additional reporting on Special Revenue Funds, Debt Service Funds and the Pension Fund. Due to the recent departure of the City's Finance Director, staff has been unable to complete these planned additions in time for presentation of this report. We will endeavor to complete those additions for our next quarterly report. FUNDING: None. RECOMMENDATION: The City Manager recommends that the City Commission receive the 2009 2"d Quarter Financial Report. ATTACHMENTS: • 2009 2"d Quarter Financial Statements. COMMISSION ACTION: City of Winter Springs, Florida Quarterly Financial Report General Fund Fiscal Year-to-Date March 31, 2009 50% of the Fiscal Year Lapsed Prior FY Original Amended Year-to-Date % Actual to % Actual to Budget Budget Actual Budget Budget Revenues Taxes: Property Taxes $4,791,529 $4,791,529 $4,247,262 89% Franchise Fees 40,000 40,000 17,652 44% Licenses and Permits: Business Tax Receipts 170,000 170,000 44,742 26% Other 32,000 32,000 8,125 25% Intergovernmental: State Revenue Sharing 995,117 875,733 472,450 54% State Half Cent Sales Tax 2,252,028 2,056,011 1,001,037 49% Miscellaneous 44,500 50,803 27,073 53% Charges for Services: Parks and Receation 376,800 324,318 112,644 35% Miscellaneous 134,046 134,046 63,725 48% Fines and Forfeitures: Traffic Light Cameras 325,000 75,000 - 0% Miscellaneous 245,000 245,000 83,333 34% Miscellaneous 126,001 159,628 200,928 126% Investment Income 393,000 393,000 27,967 7% Total Revenues $9,925,021 $9,347,068 $6,306,938 68% Expenditures City Commission $174,550 $174,933 $77,372 44% City Boards 8,945 7,645 3,618 47% City Manager 303,188 385,125 155,523 40% City Clerk 277,665 281,531 123,222 44% Finance 1,208,180 1,256,804 518,508 41% General Government 719,795 464,223 230,389 50% General Services 1,027,367 976,068 547,264 56% Information Services 1,145,719 1,244,560 628,008 51% Public Works 1,279,135 1,301,976 501,483 39% Community Development 1,783,900 1,825,050 736,721 40% Police 7,097,164 7,272,426 3,278,092 45% Fire 13,530 13,530 59,908 443% Parks & Recreation 2,315,473 2,302,509 909,630 40% Total Expenditures $17,354,611 $17,506,380 $7,769,738 44% Revenues Over (Under) Expenditures ($7,429,590) ($8,159,312) ($1,462,800) Transfers In $7,607,466 $7,604,223 $3,657,850 48% Transfers Out (105,681) (279,296) (82,842) 30% Total Transfers $7,501,785 $7,324,927 $3,575,008 49% Total Revenues Over (Under) Expenditures & Transfers $72,195 ($834,385) $2,112,208 City of Winter Springs, Florida Quarterly Financial Report Water 8~ Sewer Utility Fund Fiscal Year-to-Date March 31, 2009 50% of the Fiscal Year Lapsed Original Amended Budget Budget Year-to-Date Actual Prior FY Actual to % Actual to Budget Budget Operating Revenues User Charges $7,709,500 $7,709,500 $3,178,459 41% Other Revenue 4,000 4,157 6,461 155% Total Operating Revenues $7,713,500 $7,713,657 $3,184,920 41% Operating Expenses Salaries and Benefits $2,447,837 $2,505,329 $1,098,724 44% Materials and Supplies 952,600 963,900 357,790 37% Depreciation and Amortization 20,530 20,530 0 0% Capital 1,954,404 1,958,932 302,308 15% Other Operating Expenses 1,192,950 1,231,169 523,125 43% Total Operating Expenses $6,568,321 $6,679,860 $2,281,947 34% Operating Income (Loss) $1,145,179 $1,033,797 $902,973 Nonooerating Revenue (Expenses Investment Income $105,650 $105,650 $19,275 18% Bond Prinicpal Payments (990,000) (990,000) (675,000) 68% Interest Expense (886,525) (886,525) (434,712) 49% Gain (Loss) on Disposal of Capital Assets 0 0 0 0% Total Nonoperating Revenue (Expense) ($1,770,875) ($1,770,875) ($1,090,437) 62% Income before Contributions and Transfers ($625,696) ($737,078) ($187,464) Capital Contributions: Connection Fees $250,000 $250,000 $2,842 1 Developers 0 0 0 0% Transfers In 6,000 6,000 3,000 50% Transfers Out (1,512,413) (1,512,413) (756,206) 50% Total Contributions and Transfers ($1,256,413) ($1,256,413) ($750,364) 60% Change in Net Assets ($1,882,109) ($1,993,491) ($937,828) City of Winter Springs, Florida Quarterly Financial Report Development Services Fund Fiscal Year-to-Date March 31, 2009 50% of the Fiscal Year Lapsed Prior FY Original Amended Year-to-Date % Actual to % Actual to Budget Budget Actual Budget Budget O~erating Revenues User Charges $1,086,400 $1,086,400 $133,822 12% Other Revenue 0 230 294 128% Total Operating Revenues $1,086,400 $1,086,630 $134,116 12% Operating Expenses Salaries and Benefits $339,598 $346,313 $152,040 44% Materials and Supplies 18,971 18,971 2,189 12% Depreciation and Amortization 0 0 0 0% Capital 3,900 3,900 0 0% Other Operating Expenses 304,005 304,188 64,789 21% Total Operating Expenses $666,474 $673,372 $219,018 33% Operating Income (Loss) $419,926 $413,258 ($84,902) Nonoperating Revenue (Expenses) Investment Income $11,300 $11,300 $1,528 14% Interest Expense 0 0 0 0% Gain (Loss) on Disposal of Capital Assets 0 0 0 0% Total Nonoperating Revenue (Expense) $11,300 $11,300 $1,528 14% Income before Contributions and Transfers $431,226 $424,558 ($83,374) Transfers In 25,653 25,653 12,827 50% Transfers Out (618,387) (618,387) (309,194) 50% Total Contributions and Transfers ($592,734) ($592,734) ($296,367) 50% Change in Net Assets ($161,508) ($168,176) ($379,741) City of Winter Springs, Florida Quarterly Financial Report Stormwater Utility Fund Fiscal Year-to-Date March 31, 2009 50% of the Fiscal Year Lapsed Prior FY Original Amended Year-to-Date % Actual to % Actual to Budget Budget Actual Budget Budget Operating Revenues User Charges $1,035,000 $1,337,680 $761,704 57% Other Revenue 15,000 16,600 4,684 28% Total Operating Revenues $1,050,000 $1,354,280 $766,388 57% Operating Expenses Salaries and Benefits $527,208 $538,011 $232,752 43% Materials and Supplies 256,950 591,892 405,738 69% Depreciation and Amortization $0 $0 $0 0% Capital 242,750 324,750 73,751 23% Other Operating Expenses 153,800 181,842 37,870 21% Total Operating Expenses $1,180,708 $1,636,495 $750,111 46% Operating Income (Loss) ($130,708) ($282,215) $16,277 Nonoperating Revenue (Expenses) Grants $0 $0 $0 0% Investment Income 8,350 8,350 1,786 21% Interest Expense 0 0 0 0% Gain (Loss) on Disposal of Capital Assets 0 0 0 0% Total Nonoperating Revenue (Expense) $8,350 $8,350 $1,786 21% Income before Contributions and Transfers ($122,358) ($273,865) $18,063 Capital Contributions: Connection Fees $0 $0 $0 0% Developers 0 0 0 0% Transfers In 60,085 60,085 30,042 50% Transfers Out (210,716) (110,716) (55,358) 50% Total Contributions and Transfers ($150,631) ($50,631) ($25,316) 50% Change in Net Assets ($272,989) ($324,496) ($7,253)