The URL can be used to link to this page

Home My WebLink About2002 04 08 Informational D Financial Report for the General Fund for FY 2002 COMMISSION AGENDA ITEM D CONSENT INFORMA TIONAL X PUBLIC HEARING REGULAR Meeting MGR ~EPT Al Ithori z::Jti on ~2-- I April 8, 2002 FINANCIAL REPORT AVAILABLE AFTER 5:00 ON FRIDAY, APRIL 5TH, 2002. REQUEST: The Finance Department Requests the City Commission Review the FY 02 YTD Financial Report for the General Fund. PURPOSE: The purpose of this agenda item is to request the City Commission review the results of operations for the General Fund for the first 6 months of fiscal year 2002. CONSIDERATIONS: None. FUNDING: None. RECOMMENDATION: None. A TT ACHMENTS: Financial Report available after 5:00 on Friday, April 5th. COMMISSION ACTION: '< CITY OF WINTER SPRINGS From: Commissioners and Mayor Ronald W McLemore To: Date: 04/08/02 Re: FY 02 Mid-Year Financial Report and Recommendations As shown below the General Fund Fund Balance inclusive of supplemental appropriations approved to date, P. 0. roll-overs from last year, unanticipated operating expenditures, and net favorable revenue projections... result in a $126,307 reduction in vro;ected vear-end fund balance as follows: Net Effect Rev/Exp Net Effect "Revenue Amended Budget Rev/Exp Neutral" Budget Revenues $13,831,000 $125,600 ($71,300) $13,885,300 Expenditures $13,831,000 $500,600 ($71,300) $14,260,300 Appropriation from Fund Balance $0 ($375,000) $0 ($375,000) Beginning Year Fund $3,180,907 $3,429,600 Balance End of Year Fund Balance $3.180.907 $3.054.600 Expenditure increases include the following: (a) Approved supplemental appropriations to date (Schedule A) (b) Po. roll-overs from prior year (Schedule B) (c) Unanticipated operating expenditures (Schedule C) Total Expenditures $209,000 $ 15,700 $275.900 $500.600 Net increase in revenues (Schedule D) $125.600 Net change in Fund Balance ($375.000) Revenue Neutral Changes (No effect on Fund Balance) (Schedule E) ($71.300) Issue I: Should the City delay the hiring of 4 additional police officers and the administrative assistant for the City Manager included in the budget but not yet employed? Delaying employment of these positions until the end of the fiscal year would save approximately $100,000. As you can see from the schedule below, the amended fund balance at $3,054,600 is $126,307 below the budgeted year-end fund balance of $3,180,907. Delaying the hiring of these positions would reduce the hit on fund balance by $100,000 resulting in ayear-endfund balance of $3, 154,600 or $26,307 below the budgeted year-end fund balance. Amended Budget Bud1!et Amended Budget Delav Positions Year-end Fund Balance $3.180.907 $3.054.600 $3.154.600 Issue II: The Commission may want to consider additional supplemental appropriations and their negative effect on fund balance in the approximate amount of $145,000 as follows: ADA Transportation Senior Center Transportation L.D. Plant Property Building Permit/Indirect Cost Studies Total $52,516 $30,000 $58,000 $25.000 $165.516 If all of these are approved, the effect on fund balance would be as follows: Amended Budget wi Amended Additional Budget wi Expenditures Amended Additional & Delayed Budget Budget Expenditures Positions Year-end Fund Balance $3.180.907 $3.054.600 $2.889.084 $2.989.084 Recommendation: It is recommended that the four police officers and the administrative assistant position be delayed until September, and that the additional expenditures above be delayed until next year with the possible exception of the one time ADA Para Transit expenditure. These scenario's would result in the following effect on fund balance: Scenario 1 Scenario 2 Amended Budget Amended Delay Budget Positions & Budget Delav Positions . Fund Para Transit Year-end Fund Balance $3.180.907 $3.154.600 $3.102.084 CITY OF WINTER SPRINGS FY 02 MID-YEAR FINANCIAL REPORT SCHEDULE A $ 80,000 Police Vehicles $ 28,500 Florida League of Cities IS Proposal $ 28,300 Contract Serv - Fire Dept - Tires $ 28,000 Mosquito Chemicals $ 20,000 Legislative Services $ 14,200 Concurrency and Impact Fee Studies $ 6,000 Contract Inspections $ 4,000 Contract Inspections $ 209,000 Commission Approved Supplemental Appropriations for Expenses CITY OF WINTER SPRINGS FY 02 MID-YEAR FINANCIAL REPORT SCHEDULE B $ 12,500 Avid Neo Marketing $ 3,200 Oak Hollow Improvements $ 15,700 FY 01 PO Rollovers for Expenses CITY OF WINTER SPRINGS FY 02 MID-YEAR FINANCIAL REPORT SCHEDULE C $ 150,000 Legal Fees $ 47,900 Workmans Comp Expense $ 22,000 Utility Services City Hall $ 16,000 Generallnsurance $ 16,000 Building Dept Salaries $ 10,000 Telephone Expenses City Hall $ 5,000 Copy Machine Supplies City Hall $ 5,000 Employee Recognition Awards $ 4,000 Building Dept OT Salaries $ 275,900 New Requests for Supplemental Appropriations for Expenses CITY OF WINTER SPRINGS FY 02 MID-YEAR FINANCIAL REPORT SCHEDULE D $ (38,000) Ad Valorem $ (36,000) State Revenue Sharing $ (75,000) COPS Grant $ (150,000) Interest $ (299,000) New Request for Supplemental Appropriation for Reduction in Revenue $ 282,100 Cable Franchise Fee $ 33,100 Tower Rental-Water Fields $ 27,400 Insurance Proceeds $ 82,000 Electric Franchise Fee Transfer $ 424,600 New Request for Supplemental Appropriation for Increase in Revenue $ 125,600 Net Increase in Budgeted Revenues -. CITY OF WINTER SPRINGS FY 02 MID-YEAR FINANCIAL REPORT SCHEDULE E $ 13,500 Public Safety Grant Revenue and Expense $ 3,200 Other State Grant Revenue and Expense $ 10,000 Building Permit-Centex Arrangement Revenue and Expense $ 40,000 League Fees Revenue and Expense $ (138,000) 434 Beautification Reimbursement Revenue and Expense $ (71,300) Net Revenue Neutral Changes (Offset by Expenses) . 1 FY 00101 FY 02/03 - Projected 10% trip increase (4) % of Trips I Client Count by Residential I Actual Trips Projected Trips Projected Cost at $21.85 per Trip (5) Cities of I Counties I Address (1) , Counties I of Service Inside 1 Outsidel~1 Total I % outside Area - -------I-------r County I City Inside Outside Total Inside 3/41 Outside 3/41 Total Costs ! I I I 3/4 Mile; 3/4 Mile i Clients ! Trips (3) I 3/4 Mile (2) 3/4 Mile 3/4 Mile Trips Mile Mile I , Altamonte Springs 119 I 1 I 120 I 6,515 I 0.0% J,167 l__------=-I 7,167 I $ 156,588 I $ - I $ 156,588 17%! Casselberry 58 : 13 i 71 I 2,366 I 23.1% 2,001 I 601 I 2,603 I $ 43,731 1 $ 13,1361 $ 56,867 6%j Lake Mary 1 : 19 I 20 i 563 I 100.0% - 1 619 I 619 1 $ - 1$ 13,532 I $ 13,532 1%1 Longwood 23 I 92 I 115 ! 1,931 I 66.8% j~}1 _1':6t-l- _.t~~~ i ~ 15,4_~1~~,003 J $ 46,412 5%! ..- . -~, -. - "-22-' - '--S"j -, 27 : "1,173 T ' '-3'9."30/0 Oviedo : 17,113 $ 11,080 I $ 28,193 3%1 Sanford I 104 ! 17i 121 I 4,023 ; 1.2% 4,372 I 53 I 4,425 I $ 95,532 I $ 1 ,160 I $ 96,693 10%1 Winter Springs 6 44 50 2,185 79.6% 490 1,913 2,404 $ 10,713 $ 41,803 $ 52,516 6% Unincorporated 254 i 162 I 416 I 19,979 I 49.4% 11,120 1 10,857 I 21,977 1$ 242,979 I $ 237,216 I $ 480,195 52%1 , ITotal 587 ! 353 I 940 I 38,735 I 26,639 I 15,969 I 42,609 I $582,0651 $348,9311 $ 930,996 100%! I --- I I I -. I I I I I I - i SA Totals ! 1 I I -j I I ! I I 100% , i I I I I I I I ! I I ! I - I , I I NOTE: , 1,~N.u~_~~ of clients is as of March 2002 I I I I I I -.-. - ' I 2, Outside percentage is based on sampling of trip during the first quarter of FY02 I I I I I ___~; FY 00101 total trips is based on actual trip counts for all of FY01 and is used to project FY02/03 outside trips. I -------. 4, Costs are preliminary pending final resolution of legislative actions regarding LYNX paratransit services. I I I 5 'The cost figure shown is the current estimated vendor cost per trip minus the customer fare, T ! I I I I I I I I I ! , I I I ; ___-1 , I ! I j Proiected increase: 110% I Cost: $ 21.85 I Sheet1 4/8/2002