HomeMy WebLinkAbout2002 05 20 Regular G Financial Report for General Fund
COMMISSION AGENDA
ITEM G
CONSENT
INFORMATIONAL
PUBLIC HEARING
REGULAR x
May~ 2002 MGR f--- IDEPT~
Meeting Allthorization
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.
ATTACHMENTS:
Financial Report.
COMMISSION ACTION:
CITY OF WINTER SPRINGS
From:
Commissioners and Mayor
Ronald W McLemore
To:
Date:
Re:
05/08/02
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 $327,607 reduction in
pro;ected year-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 $701,900 ($71,300) $14,461,600
Appropriation
from Fund
Balance $0 ($576,300) $0 ($576,300)
Beginning
Year Fund $3,180,907 $3,429,600
Balance
End of Year
Fund Balance $3.180.907 $2.853.300
Expenditure increases include the following:
(a) Approved supplemental appropriations to date (Schedule A)
(b) P. 0. roll-overs from prior year (Schedule B)
(c) Unanticipated operating expenditures (Schedule C)
Total Expenditures
$209,000
$ 15,700
$477.200
$701,900
Net increase in revenues (Schedule D)
$125,600
Net challge ill FUlld Balallce
($576,300)
Revenue Neutral Changes (No effect on Fund Balance)
(Schedule E)
($71,300)
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
$ 161,300 Loss Contingency - Lawsuit - Interim Service Fee
$ 150,000 Legal Fees
$ 47,900 Workmans Comp Expense
$ 22,000 Utility Services City Hall
$ 20,000 Consultant Fees - GASB 34 Infrastructure Review
$ 16,000 Generallnsurance
$ 16,000 Building Dept Salaries
$ 10,000 R&M Vehicle Fire Dept
$ 10,000 Publication - Newsletter
$ 10,000 Telephone Expenses City Hall
$ 5,000 Copy Machine Supplies City Hall
$ 5,000 Employee Recognition Awards
$ 4,000 Building Dept OT Salaries
$ 477,200 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
$ 40,000 League Fees Revenue and Expense
$ 13,500 Public Safety Grant Revenue and Expense
$ 10,000 Building Permit-Centex Arrangement Revenue and Expense
$ 3,200 Other State Grant Revenue and Expense
$ (138,000) 434 Beautification Reimbursement Revenue and Expense
$ (71,300) Net Revenue Neutral Changes (Offset by Expenses)