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Home My WebLink About2009 12 14 Informational 102 Transmitting Fiscal Year 2009 4th Quarter Report COMMISSION AGENDA CONSENT INFORMATIONAL X ITEM 102 PUBLIC HEARING REGULAR December 14, 2009 MGR\\ /DEPT i;6 Meeting Authorization REQUEST: City Manager transmitting the City's fiscal year 2009 4 quarter financial report. PURPOSE: The purpose of this agenda item is to transmit to the City Commission the fiscal year 2009 4 quarter financial report. CONSIDERATIONS: Please note that the attached statements are UNAUDITED. They incorporate fiscal year 2009 activity as of December 3, 2009. At this stage, per normal procedures, routine year -end work such as depreciation, amortization, potential revenue accruals, interfund loans /transfers, etc. as well as entries stemming from the external audit are still outstanding. Key points as follows: The General Fund reflects an actual appropriation from fund balance of $126,155 due to significant reductions in State revenues and interest earnings which were mitigated by constrained expenditures. In the Water and Sewer Fund, preliminary calculations of the debt coverage ratio indicate the likelihood of transfer reductions to the General Fund. Consistent with previous financial and budget discussions, an intended short-term loan from the General Fund of approximately $65,000 was necessary in order to alleviate a deficit cash position in the Development Services Fund. The financial reports are subject to change as year -end adjustments and audit entries are completed. FUNDING: N/A RECOMMENDATION: N/A 121409_COMM_Informational_ 102 _FY09_4`h_Qtr_Financial_Report ATTACHMENTS: Fiscal year 2009 4 quarter financial reports General Fund, Water Sewer Utility Fund, Development Services Fund and Stormwater Fund COMMISSION ACTION: 121409_ COMM _Informational_102_FY09_4` Financial_Report City of Winter Springs, Florida Quarterly Financial Report UNAUDITED General Fund Fiscal Year -to -Date September 30, 2009 100% of the Fiscal Year Lapsed (as of 12/3/09) Prior FY Original Final Year -to- Date Actual to Actual to Budget Budget Actual Budget Budget Revenues Taxes: Property Taxes $4,791,529 $4,791,529 $4,798,972 100% Franchise Fees 40,000 40,000 30,971 77% Licenses and Permits: Business Tax Receipts 170,000 100,000 70,524 71% Other 32,000 32,000 23,175 72% Intergovernmental: State Revenue Sharing 995,117 875,733 906,988 104% State Half Cent Sales Tax 2,252,028 2,056,011 1,943,887 95% Miscellaneous 44,500 50,803 38,601 76% Charges for Services: Parks and Receation 376,800 327,468 307,096 94% Miscellaneous 134,046 134,046 134,907 101% Fines and Forfeitures: Traffic Light Cameras 325,000 110,294 55,784.25 51% Miscellaneous 245,000 245,000 192,698 79% Miscellaneous 126,001 350,857 380,190 108% Investment Income 393,000 393,000 40,056 10% Total Revenues $9,925,021 $9,506,741 $8,923,850 94% Expenditures City Commission $174,550 $177,057 $149,480 84% City Boards 8,945 7,645 7,124 93% City Manager 303,188 385,311 404,413 105% City Clerk 277,665 281,345 252,915 90% Finance 1,208,180 1,286,804 1,185,235 92% General Government 719,795 463,799 392,033 85% General Services 1,027,367 976,068 842,025 86% Information Services 1,145,719 1,244,560 1,058,773 85% Public Works 1,279,135 1,349,391 1,077,209 80% Community Development 1,783,900 1,841,518 1,624,002 88% Police 7,097,164 7,345,488 6,991,640 95% Fire 13,530 63,530 60,452 95% Parks Recreation 2,315,473 2,356,720 2,152,172 91% Total Expenditures $17,354,611 $17,779,236 $16,197,473 91% Revenues Over (Under) Expenditures (7,429,590) (8,272,495) (7,273,623) Transfers In 7,607,466 7,548,761 7,349,495 97% Transfers Out (105,681) (245,840) (202,027) 2 82% Total Transfers 7,501,785 7,302,921 7,147,468 98% Revenues Oven (Uncle) yy y ��l f .f sµ tt .s /li,�i7 :z4i"` l iT: 1�1iirS�, 1Ji7) 1 Exclusive of reduced transfer considerations from the Water Sewer Utility 2 Inclusive of transfer to the Development Services Fund ($65K Due From) UNAUDITED 12 1409_COM M_I nfo_102_FY09_4th_Qtr_Financia l_Report City of Winter Springs, Florida Quarterly Financial Report UNAUDITED Water Sewer Utility Fund Fiscal Year -to -Date September 30, 2009 100% of the Fiscal Year Lapsed (as of 12/3/09) Prior FY Original Final Year -to- Date Actual to Actual to Budget Budget Actual Budget Budget Operating Revenues User Charges $7,709,500 $7,709,500 $7,339,416 95% Other Revenue 4,000 10,413 14,844 143% Total Operating Revenues $7,713,500 $7,719,913 $7,354,260 95% Operating Expenses Salaries and Benefits $2,447,837 $2,505,329 $2,351,151 94% Materials and Supplies 952,600 1,029,694 875,505 85% Depreciation and Amortization 20,530 20,530 0 N/A Capital 1,954,404 1,961,394 1,048,557 54% Other Operating Expenses 1,192,950 1,171,769 1,059,934 91% Total Operating Expenses $6,568,321 $6,688,716 $5,335,147 80% Operating Income (Loss) $1,145,179 $1,031,197 $2,019,113 Nonoperating Revenue (Expenses) Investment Income $105,650 $105,650 $20,526 19% Bond Prinicpal Payments (990,000) (990,000) (990,000) 100% Interest Expense (886,525) (886,525) (854,384) 96% Total Nonoperating Revenue (Expense) ($1,770,875) ($1,770,875) ($1,823,858) 103% Income before Contributions and Transfers ($625,696) ($739,678) $195,255 Capital Contributions: Connection Fees $250,000 $250,000 $13,932 6% Transfers In 206,000 206,000 206,000 100% Transfers Out (1,712,413) (1,619,286) (1,618,888) 1 100% Total Contributions and Transfers ($1,256,413) ($1,163,286) ($1,398,956) 120% Change in NetAssets ($1!882 1 {$1 2,94)' 203 701) 1 Exclusive of reduced transfer consideration to General Fund UNAUDITED 121409_COMM_ Info_ 102 _FY09_4th_Qtr_Financial_Report City of Winter Springs, Florida Quarterly Financial Report UNAUDITED Development Services Fund Fiscal Year -to -Date September 30, 2009 100% of the Fiscal Year Lapsed (as of 12/3109) Prior FY Original Final Year -to -Date Actual to Actual to Budget Budget Actual Budget Budget Operating Revenues User Charges $1,086,400 $281,400 $268,780 96% Other Revenue 0 230 294 128% Total Operating Revenues $1,086,400 $281,630 $269,074 96% Operating Expenses Salaries and Benefits $339,598 $337,313 $331,436 98% Materials and Supplies 310,866 18,971 5,197 27% Depreciation and Amortization 0 0 13,950 N/A Capital 3,900 3,900 0 0% Other Operating Expenses 12,110 88,188 81,231 92% Total Operating Expenses $666,474 $448,372 $431,814 96% Operating Income (Loss) $419,926 ($166,742) ($162,740) Nonoperating Revenue (Expenses) Investment Income $11,300 $1,300 $1,989 153% Total Nonoperating Revenue (Expense) $11,300 $1,300 $1,989 153% Income before Contributions and Transfers $431,226 ($165,442) ($160,751) Capital Contributions: Transfers In 25,653 115,653 90,653 2 78% Transfers Out (618,387) (617,390) (617,390) 100% Total Contributions and Transfers (592,734) (501,737) (526,737) 105% alarms in Net Assets ($161 4108) (86zi 2 Inclusive of transfer from the General Fund ($65K Due To) UNAUDITED 121409_COMM_ Info_ 102 _FY09_4th_Qtr_Financial_Report City of Winter Springs, Florida Quarterly Financial Report UNAUDITED Stormwater Utility Fund Fiscal Year -to -Date September 30, 2009 100% of the Fiscal Year Lapsed (as of 12/3/09) Prior FY Original Final Year -to -Date Actual to Actual to Budget Budget Actual Budget Budget Operating Revenues User Charges $1,035,000 $1,530,180 $1,524,961 100% Other Revenue 15,000 16,600 23,152 140% Total Operating Revenues $1,050,000 $1,546,780 $1,548,113 100% Operating Expenses Salaries and Benefits $527,208 $538,011 $493,148 92% Materials and Supplies 255,300 879,542 811,089 92% Depreciation and Amortization 0 0 237,383 N/A Capital 242,750 324,750 0 0% Other Operating Expenses 155,450 180,742 80,329 44% Total Operating Expenses $1,180,708 $1,923,045 $1,621,949 84% Operating Income (Loss) ($130,708) ($376,265) ($73,836) Nonoperating Revenue (Expenses) Investment Income $8,350 $8,350 $2,559 31% Total Nonoperating Revenue (Expense) $8,350 $8,350 $2,559 31% Income before Contributions and Transfers ($122,358) ($367,915) ($71,277) Capital Contributions: Transfers In $60,085 $60,563 $55,064 91% Transfers Out (210,716) (109,903) (109,903) 100% Total Contributions and Transfers ($150,631) ($49,340) ($54,839) 111 Change in Net A,Ssets ($272,989) (417;265) ($126,116) UNAUDITED 121409_COMM_ Info_ 102 _FY09_4th_Qtr_Financial_Report