HomeMy WebLinkAboutAgenda BOC 022610AGENDA
CITY OF PALM BEACH GARDENS
BUDGET OVERSIGHT COMMITTEE
Friday February 26, 2010, 8:30 AM
CITY COUNCIL CHAMBERS
I. CALL TO ORDER
II. PLEDGE OF ALLEGIANCE
III. ROLL CALL:
Regular Members
L. Marc Cohn Chair
Kenneth Menard Vice Chair
Bernard Pettingill Regular Member
Phillip Woodall Regular Member
Brandon Dorsey Regular Member
IV. ADDITIONS, DELETIONS, MODIFICATIONS:
V. APPROVAL OF MINUTES
VI. ITEMS BY COUNCIL LIAISON
VII. ITEMS BY STAFF LIAISON
VIII. OLD BUSINESS
IX. NEW BUSINESS
1. Review Budget Document
2. Review December 31, 2009 Quarterly Financials
X. COMMENTS BY PUBLIC
XI. COMMENTS BY THE BOARD
XII. ADJORNMENT
, -
The City has to satisfy nationally recognized guidelines for effective budget
presentation and meet four major tests:
The budget should serve as a POLICY DOCUMENT.
2. The budget should present a clear FINANCIAL PLAN.
3. The budget should serve as an OPERATING GUIDE.
4. The budget should serve as a COMMUNICATION DEVICE.
tLOWNWE
Financial Management Policies (Continued)
Reserve Policies:
The City will maintain an undesignated fund balance of 5-15% of total budgeted operating expenditures
to accommodate unanticipated expenditures, expenditures of a non - recurring nature, or unanticipated
revenue declines.
Investment Policies:
Disbursement, collection and deposit of all funds will be appropriately scheduled to ensure the timely
payment of expenditures and investment of funds.
The accounting system will provide regular information concerning cash positions and investment
performance.
Accountings, Auditing and Financial Reporting Policies:
The accounting system will maintain records on a basis consistent with Generally Accepted Accounting
Principles applicable to local government.
Monthly and annual financial reports will present a summary of financial activity by major types of
funds.
In accordance with state law, an independent accounting firm will perform an annual audit of the
financial statements of the City and will publicly issue an opinion thereon.
Pwchnsino Policies:
Purchases will be made in accordance with all federal, state, and municipal requirements. If there are
no specific requirements, purchases will be made in the best interest of the City.
Purchases will be made in an impartial, economical, competitive, and efficient manner.
Purchases will be made from the lowest priced and most responsible vendor. Qualitative factors such
as vendor reputation, financial condition, and quality of product. and timeliness of delivery wd. be
considered as much as price when making purchasing decisions.
Preference will be given to purchases of like quality to vendors who maintain a place of business within
the City of Palm Beach Gardens.
90"WAVW
POLICY INITIATIVES
The City Council's Policy Agenda and related goals are presented below. These goals were
established by the Council as a result of an extensive visioning process and are found in the document,
'Our Vision — A Strategic Plan.`
With the establishment of the Policy Agenda, staff has developed a series of action plans to accomplish
the goals identified by Council and incorporated it into this years budget. Staffs accomplishment in
meeting these goals is reviewed on a continual basis throughout the fiscal year.
The following is a breakdown by major policy area of the Council's Policy Agenda, followed by a brief
listing by department of some of the more significant coming year's objectives to address this agenda.
A detailed listing of all departmental objectives and performance measurements can be found in the
various departmental sections of this document.
CITY COUNCIL GOAL #1 — TO CREATE LINKAGES WHICH CONNECT OR GATHER RESIDENTS
AND BUSINESS OWNERS OF DIFFERENT NEIGHBORHOODS AND DEVELOPMENTS INTO A
SINGLE COMMUNITY AND WHICH PROVIDE A SENSE OF COMMUNITY.
General Government
Adminktuitinn
• Inform the City's residents of the City Council and Departments' ongoing initiatives and activities
• Increase communication with the City Council and partnerships with Intergovernmental
agencies
Information Technology
• Improve City website offering additional online services and ensuring a quality visitor experience
POLICY DOCUMENT (cont ,,ued,
Impacts of Tax Reform Legislation and 'Current Economic Conditions
Earpkenc tare impacts
To illustrate the total impacts of tax reform and the slowdown in the economy over the three year
period, please see the tables below Mich surnmarize the cumulative changes in personnel and
changes in some of the more significant categories of expenditures. in the General Fund:
Table 1— Cumuretive Changes in Number ofPersonner
FY 2008 FY 2009 FY 2010 Cumulative Change
Reductions Reductions Reductions
Full -time -15 -15 -20 -50
positions
eliminated
Part-time -7 -17 -2 -26
positions
eliminated
Part-time -7,198 - 17,804 -2,000 - 27,002
hours
eliminated
� POLICY DOCUMENT �,.. -...��
FINANCE DEPARTMENT
FY 2010 GOALS, OBJECTIVES AND OUTCOME INDICATORS
Actual Estimated Projected
FY 2008 FY 2009 FY 2010
City Council Goal: To increase the levels of service for City- provided services and facilities
within the urban area, while maintaining fiscal responsibility.
Service Level Objective Maintain the City's financial systems in conformance with all
state and federal laws, General Accepted Accounting Principles (GAAP), standards of the
Governmental Accounting Standards Boards (GASB) and the Government Finance Officers
Association (GFOA).
Outputs:
Annual audit and single audit opinions are
unqualified with an opinion date of 3131 or
prior
3/23/2009
3/01/2010
3131/2011
Complete City wide Purchasing and
Procurement Manual
0%
0%
25%
Effectiveness Measures:
Number of years awarded the 'Certificate of
Achievement for Excellence in Financial
Reporting" by GFOA
13
14
15
Number of Management Comments in the audit
0
0
0
Service Level Objective: Manage the City's investment portfolio to provide safety, liquidity
and an appropriate rate of return
Outputs:
% available funds invested 100% 100% 100%
Effectiveness Measures:
Investment benchmark — 1 year treasury note
at 9130109 042%
Weighted average yield on investments
at 9130109 to exceed benchmark of
1 year treasury 1 .17%
RevellUes ources
Local
Option
Taxes
45.4%
Prior Year
Balance
54.3%
Expenditures/ Reserves
Capital
20.7%
Operating 1
33.9%
Reserves
45.4%
i
Other
Revenue
.3%
ANALYSES OF REVENUES/ SOURCES AND EXPENDITURES/ USES
GAS TAX FUND
FUND NUMBER 103
BEGINNING BALANCE
REVENUES/ SOURCES
Other Taxes
Intergovernmental
Interest
Miscellaneous
Transfers In
TOTAL
EXPENDITURES /USES
Public Facilities Operating
Capital Outlay
Operating Transfers
TOTAL
ENDING BALANCES
Reserved for Encumbrances
Designated for Projects
Undesignated
TOTAL
Actual
FY 2007
Actual
FY 2008
Estimated
FY 2009
Amended
Budget
FY 2009
Budget
FY 2010
$ 901,752
$ 998,309
$ 1,284,525
$ 1,284,525
$ 784,441 q
669,504
686,664
691,287
702,000
656,305
49,734
21,222
419
16,192
4,886
91,022
93,753
-
-
-
558,264
510,830
632,790
770,436
490,000
155,439
4,593
598,000
299,000
713,703
515 423
632,790
1,368,436
789,000
-
164,436
-
-
-
-
-
559,000
-
-
998 309
1,120,089
784 441
634,281
656,632
$ 998,309
$ 1,284,525
$ 1,343,441
$ 634,281 $
656,632
NANCI A N �c�ntinu�di ��
COMBINED FUNDS BUDGET
FISCAL YEAR 2010
I-
REVENUES
Property Taxes
S 46,847.492
Utility Taxes
1,069.216
Franchise Fees
5,875,999
Other Taxes
658,305
Licenses & Perm is
$3,344,648
Intergovernmental
$4,587,028
Charges for Service
14,743,304
Impact Fees
500.600
Fines & Forfeitures
458,281
Interest
958,887
Miscel aneous
1,258.394
TOTAL REVENUES
80,298,134
EXPENDITURES
Salaries
34, 357, 844
Retirement
8,821,274
FICA
2,628.512
Health Insurance
5,841,277
Workers Compensation
891.664
Trash Collection
2,756,598
Other Operating Expenditures
19,488.793
Capital Outlay
2,825,576
Debt Service
4,253,023
TOTAL EXPENDITURES
81,864.561
TRANSFERS
Transfers to other funds
1,316,677
Transfers from other funds
1,316,678
REVENUE OVER (UNDER) EXPENDITURES
(1,566.426)
BEGINNING FUND BALANCE
28,603.591
ENDING FUND BALANCE
S 27,037.165
F I NIANCIAL
ANALYSIS OF REVENUES/ SOURCES AND EXPENDITURES/ USES
ALL FUNDS COMBINED
BEGHWM BA LA NC
REVENUES /SOURCES
Property Taxes
Franchise Fees
Other Taxes
Licenses & Penrrts
lntergovermKntal
Charges for Seances
Ries & Forteltures
Impact Fees
Werest
Miscellaneous
Transfers In
Other Sources
TOTAL
EXPENDITURES /USES
City Council
City Clerk
Administration
Engineering
PL9* Relations
klf mason TecMo"
Legal
Hunan Resources
F'kmance
General Services
Poke
Fire
Growth Management
Parks/ Grounds
Recreatici/GOr
Communty Services Admn/ Public Works
Coruuuctlon Services
Neighborhood Services
Ser kmrance
Debt Service
Capital Outlay
Other Uses
Ope rat ng Transfers
TOTAL
ENDING BALANCES
Reserved For Debt Service - Gewal Fund
Reserved Net Assets - Fleet Find
Reserved far Encumbrances - All Furids
Reserved far Projects - Impact Fees
Designated for Projects -GF & Special Rev.
Designated for Econ. Dev. - General Fund
Designated for OPES - General Find
Unoesignated - Al Finds
TOTAL
Amended
Actual Actual Estimated Budget Budget
FY 2007 FY 2008 Pf 2009 FY 2009 FY 2010
37,511.297
1 37,961,297
S 41,144,476
S 41,144,476
S 28,603,591
50,541,564
50,362,460
49,474,752
49,849,809
46,847,492
5,380,778
5,516,091
5,465,827
6,079,603
5,875,999
1,529,556
1,643,583
1,969,361
1,640,737
1,725,521
3,718,104
4,473,036
3,446,260
3,934,732
3,344,648
6,088,258
6,111,037
4,706,067
5,079,499
4,587,028
7,876,679
8,297,859
14,012,737
14,630,150
14,743,304
266,168
320,944
443,553
241,650
458,281
2,045,891
1,199,937
420,636
1,419,473
500,600
3,131,569
1,726,314
1,208,433
1,544,421
958,867
1,464,752
2,428,100
983,475
783,957
1,256,394
1,846,832
1,373,773
4,030,134
4,030,135
1,316,678
3,642.218
$87,532,369
83,453,134
S 86,161,235
89,234.1
81,614,812
2%,961
287,088
309,752
332,852
274,835
518,309
579,471
508,177
563,232
486,190
595,620
625,022
521,231
554,337
551,868
-
-
100,918
399,335
381,719
109,470
117,103
98,275
146,086
121,425
1,066,564
1,128,874
1,125,816
1,228,128
1,124,705
4 96,699
564,493
297,896
657,370
333,359
857,794
803,279
664,524
762,524
697,61S
883,259
893,579
915,387
925,758
961,234
5,035,026
5,378,072
5,259,144
5,809,803
6,054,074
18,322,946
19,730,502
19,825,042
19,947,764
21,S73,269
16,156,270
17,431,189
16,963,963
16,929,043
17,418,098
4,883,586
1,467,177
1,468,189
1,739,333
1,447,268
3,276,218
3,342,224
3,010,593
3,286,474
3,132,437
5,483,807
5,328,186
5,165,874
6,001,769
S,797,611
8,094,286
7,847,756
7,117,966
7,709,699
6,375,669
2,070,442
2,089,084
1,923,833
2,135,136
1,537,147
530,029
680,023
672,495
737,901
752,978
-
-
5,184,566
5,321,843
5,703,022
4,361,704
4,336,642
4,114,219
4,325,853
4,253,023
8,976,550
6,308,966
3,346,195
15,068,366
2,825,576
3,376,495
57,445
-
240,760
41,438
1,670,332
1 273 777
4,0 30 135
4,030,135
1 316 677
87,062,367
80,269,952
82,624,230
98,853,501
S 83,181,237
-
-
2,395,707
2,395,707
1,732,155
1,943,851
2,127,175
1,715,003
?,238rW
2,158,259
1,192,676
1,973,468
-
-
11,957,719
10,221,117
7,706,996
3,762,620
4,150,119
2,362,472
-
-
1,332,247
1,332,247
1,332,247
-
307,000
307,000
307,000
18 350 544
21,997,466
26,476,416
25,775,183
24,796,831
;37, %1,297
$ 41,144,476
S 44,681,481
S 31,525,140
$ 27,037,167
ALPLAN' cnntinued )
GAS TAX
SPECIAL REVENUE FUND - 103
Amended
Ftevenuearsourcea Actual Actual Estimated Budget Budget
Account FY 2007 FY 2008 FY 2009 FY 2009 FY 2010
Local Option Gas -ax
889.504
688,884
691.287
'2,13CD
85 ?,30F
Taxes
669,504
686,664
691.287
702,000
656,305
Palm Beach CounryGrant
-
-
-
-
-
Intergovernmental
-
-
-
IntestEarnings
re
49734
21,222
419
18,192
4,8a8
Interest
49,734
21,222
419
16,192
4,886
blscelaneous Revenue
91 222
93,753
-
-
-
PBC Reimbursement Bus Shelter
-
PBC Reimbursement Pa m Tran
-
-
Miscellaneous
91,022
93,753
Transfers in
-
-
Other Financing Sources
TOTAL REVENUES $ 810.260 S 801,639 $ 691,706 S 718.192 $ 661.191
Beginning Fund Balanoe 90175-1 998,30.2 1 �164_E25 t 284,525 784.441
TOTAL. REVENUESISOURCES $ 1,712,012 $ 1,799,948 $ 1,976,231 S 2,002,717 $ 1,445.632
Taxes
County Gas Tax Revenue: This revenue is administered by the Department of Revenue and
distributed to each municipality in accordance with interlocal agreements between counties and
municipalities. Currently, Palm Beach County and its municipalities have separate distribution
factors for the "new` 5 -cent local option tax. Based on the estimated actual revenue for FY 2008109,
$656,305 is projected for FY 2009110.
Interest Earnings: Based on estimated available balances and protected interest rates, revenue is
estimated for FY 2009110 at $4.886.
IN
FINANCIAL PLAN. Continued) IIIW�
SUMMARY OF ALL FUNDS
REVENUES/ SOURCES AND EXPENDITURES/ USES
FISCAL YEAR 2010
FUND
BEGINNING
BALANCE
REVENUES
EXPENDITURES
ENDING
BALANCE
GENERAL FUND
S
20,255.733
S 65.443.620
S 67.200,345
S 18,499,008
SPECIAL REVENUE FUNDS
Gas Tax
784.441
651.191
789,000
65e,632
Recreation
838.650
2.912.781
2.890,340
861,071
Golf
256.101
1.504.360
1.489,634
270,827
` Po ice Trainine�Grants
36,012
25.000
14.000
47,012
I
TOTAL
$
1.915.204
S 5.103.312
S 5.182.974
S 1,835,542
INTERNAL SERVICE FUNDS
F eet Maintenance
2,127.175
2.280.138
2.168,978
2.238,335
Sef- Insurance Fund
878.048
8,258.277
5.703,022
1,431,303
TOTAL
$
3,005.223
S 8.538.415
S 7.872,000
S 3.869,838
CAPITAL PROJECT FUNDS
Recreation mpact Fee
381.688
442.807
800,000
4,475
Po ice Impact Fee
401,845
39.698
-
441,543
F re Impact Fee
129.017
115.746
120,000
124,763
Road Impact Fee
2.029.213
330.349
691,677
1,667,885
PGA Flyover Capital Project
223.835
911.187
622,563
512,459
Bums Road Capital Project
281.853
691.678
691,678
281,853
TOTAL
S
3.427.431
S 2,531.485
S 2.925,918
$ 3,032,978
GRAND TOTAL
S
28.603.591
6 81.614,812
S 83,181,237
$ 27,037,166
Information Technology
1 1
Printer Replacement
$ 14,000
• _
•
• • .
ID Card Printer Replacement
Laptop Replacement
3,200
40,000
General Government
$
119,600
Network Switching Equipment Replacement
Kodak Scanner Replacement
12,000
5,000
Culture & Recreation
987,000
Video Projector Replacement
5,000
BioMetric Timeclocks
2,600
Physical Environment
1,049,000
Server Replacement
10,000
Large Format Printer Replacement
-
Public Safety
669,976
Council Chambers AV Equipment Upgrade
25,000
SANS Network Backup and Storage Solution
Webs ite Content Management Software
Data Center Racks
-
-
2,800
Total Capital Appropriations
$ 2,825,576
• • •
Low Voltage Re -Wire at City Hall & Police Dept.
-
Mircrosoft Enterprise License Agreement
-
General Fund
$
1,156,576
Total Information Technology
$119,600
Total General Government
$119,600
Impact Fees
520,000
Special Revenue
299,000
Funding Source
Internal Service Fees
450,000
General Fund
$119,600
Grant(s)
400,000
Capital Projects (Impact Fees)
Special Revenue
- (Z)
Internal Service Fees
- (3)
Total All Funding Sources
$ 2,825,576
Grant(s)
-
Total All Funding Sources
$119.600
Capital Improvement Project
Self - loading Grapple Truck
Priority
-ill
Department
Corrm6nRV SeMce6
Drvlelon
Parks and Graeae
Pro &e Manager
Operations Drecio - Pubilc
Works.
marks and Gra.nM
'
Proled Location
Manterance =acll
_
�i
Funding Source
General Fend
Prior ears
-
-
ear TC
ealgn (EnginearinW
ttectura
ndt Right of Way
cguleltion
elructlon
E ent
1`U 000
150,000
4dministratlon
1-c-13al Fen
Pudic Art
other S
otal
$
= 150.000
17 7
S
ALL.
S
I
S -
S
$ 150.000
-M
umently, the parks and grounds ab putrc warts crews utilize two pieces at egr.rprrert to load and haul away debris generallea at wort
sites: a 19e7 Fora Pamer Truck and a 1994 Bobcat. The equipment Is aglrg and becomng more 0060 to maintain Also, crew members
re required to load and urload the Bobcat on to a trader before proceecing -c a wok site
The Seff4oading Grapple Trust WII ellmnate the need for two pieces of equipfrlent as well as the ex=a mar. noirs needed to trailer the
bcat
Personnel S
Woe of equ�grt will eltninati the need for aold1ronal start to operale two
peraUng 5
s of equipment on average, It le estimated trial tells Oil refecl a savings of
U5.200
aprhll Outlay 5
womawo $5.200 annually. Also, mw piece of equi lerl Is racer r.naer
er $
ry. and equlppea with a more fuel enlclerl engrre. Tne savings on repair
. S
uel o o6ts Is estimated to be around $10,CUC
NANCIAL PLAN( continued )
DEBT SERVICE
The City of Palm Beach Gardens is committed to consistent capital planning through the adoption and
periodic amendments to a Comprehensive Plan. The City's Comprehensive Plan provides that its total
debt service expenditures shall not exceed 20% of total annual revenues and that total outstanding
debt is limited to no more ttlan 10% of the Cr Ws property tax base. These calculations of the City's
legal debt limits are shown below:
Fiscal Year 2010 budgeted revenues (excluding Transfers and
Internal Service Fund Charges) S71,761,719
Debt service Imitation - 20% S14,352,343
Debt service payments for FY 2010 S 4,257,016
Debt payments as % of revenues 5.9%
Gross taxable value of property
Debt limitation — 10%
Outstanding Debt as of September 30, 2009
Debt as % of taxable value
C, N OB i .ATION DEBT PER CAPIETA
The graph to the right represents general s500
obligation debt per City resident. s4so
Subsequent to the issuance of bonded debt ssca
through fiscal year 2000, the per capita debt s35o
shows a gradual decrease due to the 200
sea
amortization of the debt, coupled with an S2 cc
increase in population. s1e0
ssca
S_`40
SA
$8,900,377,246
$ 890,037,724
$ 32,216,511
.36%
2001 2002 2003 2004 2005 2006 2007 200a 2008 2003
EXPLANATION OF BUDGETARY BASIS
This budget is adopted on a basis consistent with Generally Accepted Accounting Principles (GAAP)
with the following exceptions:
• Depreciation is not budgeted in the Proprietary Funds
• Principal payments on long -term debt and capital outlay purchases in the Proprietary Funds are
presented as expenses
The GAAP basis of accounting for governmental funds is the modified accrual method. Revenue and
other governmental fund financing resource increments are recognized in the accounting period when
they become susceptible to accrual - that is, when they become both 'measurable" and "available' to
finance expenditures of the fiscal period. The following funds are budgeted using the modified accrual
basis of accounting: General, Special revenue, and Capital Projects Funds_
POLICE DEPARTMENT Wr
The Palm Beach Gardens Police Department provides profess,onal law enforcement, comprehensive
crime prevention and crime solution services to the residents of the City. The Chief of Police oversees
the operation of the department, which is organized into three bureaus: Administrative Operations,
Uniformed Operations, and Special Operations.
The primary functions of the Administrative Operations Bureau are to provide administrative support to
all Police Department personnel and work in cooperation with other City departments, provide
emergency communications dispatching, and provide record keeping and budgetary services for the
department.
The primary functions of the Uniformed Operations Bureau are to provide traffic enforcement and road
patrol, respond to all calls for service, and enforce the laws of the State of Florida and the City of Palm
Beach Gardens.
The primary functions of the Special Operations Bureau are to conduct investigations and crime
prevention /youth program activities; provide specialized tactical support with S.W_A.T. and task force
units: and maintain the professionalism of the department and its members through recruiting and
selection activities, accreditation, training, internal affairs, and planning & research. Also housed within
the Special Operations Bureau are personnel and FDLE compliance records, public information
functions, including media relations and public outreach programs.
Uniform Op_
66%
Division /Fund
Approved
Budget
FY 2010
Administration
$3,570,057
Uniform Operations
14,297,695
Special O erations
3,879,931
Subtotal
General Fund
21, 747, 683
Police Impact
0
Police Training
14,000
Total
$21,761,683
Special Ops
18% Training
\ no/
administration
16%
Impact
0%
OPERATING GUIDE (Con.
FIRE RESCUE DEPARTMENT
Fiscal 2009 Service Level Accomplishments
Maintained Accredited Agency status from the Commission of Fire Accreditation International_
Transitioned Annual Fire Inspections into Eden to create a paperless inspection tracking and
records storage system.
Updated the Departments Strategic Plan using a community based approach by inviting members
of the public and other city departments to participate.
Received (4) EMS Grants that were used to upgrade and enhance the EMS lab at Fire Station 5.
Began an established training program in the EMS lab at Fire Station 5 to provided medical skills
training to Fire Rescue personnel.
Established a program for intubation training for our personnel at a local hospital.
Conducted awareness training on the H1 N1 virus for all city employees -
All Fire Rescue fine officers completed training through the National Fire Academy as a Certified
Safety Officer.
Participated in the establishment of the Community Assistance Support team through Code
Enforcement.
FY 2010 GOALS, OBJECTIVES AND OUTCOME INDICATORS
City Council Goal: To create linkages in the City which connect or gather residents and
business owners of different neighborhoods and developments into a single community and
which provide a sense of community.
Service Level Objective: Improve relationships with citizens, City Council and staff by
providing additional meetings, workshops, and departmental functions to facilitate
opportunities for communicating.
Outputs:
Provide training to educate city staff to handle
emergency situations
Number of participants:
CPR 100 170 100
AED 1100 170 100
Actual
FY 2008
Estimated
1 FY 2009
Projected
FY 2010
City Council Goal: To create linkages in the City which connect or gather residents and
business owners of different neighborhoods and developments into a single community and
which provide a sense of community.
Service Level Objective: Improve relationships with citizens, City Council and staff by
providing additional meetings, workshops, and departmental functions to facilitate
opportunities for communicating.
Outputs:
Provide training to educate city staff to handle
emergency situations
Number of participants:
CPR 100 170 100
AED 1100 170 100
OPERATI
GUIDE mm
Admini
C I TY OF PALM BEACH GARDENS
ORGAN I ZAT I ON CHART
Construction Golf Neighborhood Parks & Grounds Public Facilites Recreation
Services Services
APPENDIX
OPERATING
GUIDE( c o n t i n u e )
PERSONNEL FY 2010 BUDGET
Comparison of Staffing
Adopted
Department Budget Budget Budget Inc/
FY 2008 FY 2009 FY 2010 (Derr)
GENERAL GOVERNMENT
Council
_ 5
5
Administration
c 4
4
City Clerk
8 8
4
(2)
The budget
Operating
Finance
9 10
10
Human Resources
I 8
5
(1)
Information Technology
8 9
6
shall provide
schedule
•
Legal
2 2
1
(1)
Engineering
0 3
3
Growth Management
18 18
14
(4)
summary
table
of
personnel
•
PUBLIC SAFETY
F,re Rescue
125 122
122
position counts
• prior,
Police
157 150
150
COMMUNITY SERVICES
and budgeted •
Public Facilities
52 49
45
(4)
Parks and Grounds
31 30
28
(2)
Construction Services
24 20
15
(5)
. •
259)
Neighborhood Services
8 8
8
•
Recreation
32 32
31
(1)
Golf
14 13
13
TOTAL
501 484
464
(20)
OAK
Growth Management
Administrative Specialist II
(1)
Adopted
Ado P
Position
New
Adopted
P
Planning technician
(1)
Sr. Planner
(1)
Human Resources
FY 2009 Transfer In
Transfer Out Reclass Eliminated Request FY 2010
Planning Manager
(1)
Human Resources
HR Technician
(1)
Legal
City Attorney
(1)
Human Resources Administrator
1
0
0
0
0
0
1
City clerk
Public Information Coordinator
(1)
Administrative Specialist III
(1)
Human Resources Generalist
3
0
0
0
0
0
3
Public Facilities
Superintendent
(1)
Human Resources Technician
1
0
0
0
(1)
0
0
Construction Services
Accountant
(1)
Chief Building Plans Examiner
(1)
HR Special Projects Coordinator
1
0
0
0
0
0
1
Building Inspector)
(1)
Building Inspector))
(1)
Deputy Building Official
(1)
Total Human Resources
6
0
0
0
(1)
0
5
Community Services Admin
Special projects Coordinator
(1)
Administrative Specialist III
(1)
Parks
Administrative Specialist II
(1)
Recreation
Lead Lifeguard
(1)
Fleet Maintenance
Superintendent
(1)
Golf
Purchasing Inventory Control Coordinator
(1)
Total
(20)
(1 II►14-t11110aII7
The &',t' of Palm Beach Gardens, alorig with all government entities in the State of Florida, has been
smuggling with legislature and voter mandated tax cuts and revenue limitations for two years. In
ad diton to these recent tax reform mandaL-s, the City has had to face many difficult issues brought
about by+the recent mortgage crisis and dawnturn in the economy. Some of these issues include:
• Depreciating residential property market values
• Slowdown in residential construction
• Significant reductions in investrn,ent returns
• Reductions in State shared revenues
• Rapidly escalating Fuel costs
• Rapidly escalating public safety penision costs
• Downgrade of municipal bond insurer by rating agencies
Many of the above issues have had substantial effects on the budgets of the Ctj of Palm Beach
Gardens for fiscal years 2808 through 2010_ Unfortunately, it a ppears that th a curre nt do -ontu m i n the
economy and real estate market will also have a substantial impact on the a4t is budget in fiscal years
2t}11 and possibly Beyond. The possible future effects will be discussed in more detai` =n the Strategic
Management and Long- Ranee Plan section of this document, on page 35.
COMMUNI
DEVICE( c o n t i n 7
MIL
FRATEGIC MANAGEMENT AND LONG -RANGE PLAN
To provide a framework upon which to guide management in the allocation of resources and to address
the needs of our residents, both present and future, the City embarked upon an intensive visioning
process several years ago. The process included input from and hard work by many: the City Council,
the Blue Ribbon Visioning Committee, City Staff and many citizens of Palm Beach Gardens. The
resultant document, 'Our Vision — A Strategic Plan." presents a preferred vision of the future of the City
of Palm Beach Gardens. It was through this process that goals and objectives were identified and
strategies developed to translate that vision into reality. For a complete listing of those goals identified
by the City Council, please refer to the Policy and Initiatives section of this document.
The Florida Growth Management Act, adopted by the State of Fkxida in 1985, provides for 67 Counties
and 410 municipalities, including the City of Palm Beach Gardens to adopt a Local Government
Comprehensive Plan. This plan provides the foundation to guide future growth and development and
the building blocks to ensure the quality of life to the residents of Palm Beach Gardens as outlined in
the City's visioning document.
Under the guidelines in Section 163.3191, F.S. local governments shall adopt an Evaluation and
Appraisal Report every seven (7) years. This evaluation allows the Council to assess the progress of
the City's strategic plan and make revisions to address current and future needs including community
objectives, changing conditions, trends affecting the community and changes in state requirements.
During the City's most recent evaluation process, the City Council and staff identified seven (7) major
areas of concerns along with proposed recommendations to address each area with target dates
ranging from 2009 thru 2013. It is interesting to note that these seven areas are consistent with the
previously adopted Visioning plan's stated goals; they merely focus attention on today s more relevant
issues.
Plan for Western Growth Proposed Studies;Action Plan
Embrace sustainable development principles in 2009
the City -wide vision update Update City's'-)ision Plan
Coordinate with Seacoast Utility Authority
(SUA) and South Florida Water Management
District (SFWMD)
Support a balance between response to
incidents and proactive patrols
2009
Update 10 year Water Supply Study
2011
Assess impact of western development,
redevelopment, and future annexations
for Fire rescue and Police Levels of
Service
OMMUNICATIO
SUMMARY OF BUDGET PREPARATION PROCESS
J
Budgeting System
The fiscal year for the City of Palm Beach Gardens begins on October 1 of each year and ends
September 30 of the following year. This is mandated by Florida Statutes. Therefore, City Code
requires the Council to adopt, by ordinance, the budget on or before the thirtieth day of September of
each year for the coming fiscal year.
The budget may be amended in four ways. An intradepartmental or interdepartmental transfer within
the same operating or capital fund may be authorized by the city manager. A transfer between different
operating or capital funds may be authorized initially by the city manager, subject to approval within 30
days by resolution adopted by the City Council. A third way is a transfer from the contingency account
of the City Council, which may be authorized only by resolution adopted by the Council; except that, in
the event of an emergency declared by the manager, such a transfer may be made initially upon
authorization of the manager, subject to approval within 30 days by resolution adopted by the Council.
Any increase in the total appropriations for a fund must be approved by ordinance of the Council.
The budget process itself begins in the month of February prior to the coming fiscal year. During this
time the Finance Department collects information on expected revenue, personnel costs, as we!I as
uncontrollable changes in expenditures. This information is put into the format of budget instructions
and assists departments with their budget requests. The budget requests are submitted on forms
developed by the finance department to maintain consistency. The forms contain two prior years'
actual data. current year budget, requested amount for the coming year, dollar amount increase/
decrease and percentage increase/ decrease over the prior year budget_ This information is presented
to council each July in the proposed budget. The departments describe the expenditures on the line
item justification form which follows the departmental breakdown of the line items. In addition to
requesting dollars, the departments must submit departmental objectives that provide a strategy linked
to the Cityrs overall goals and policy agenda. The departments must also provide current year
achievements and organization charts that identify changes from the previous year. This additional
information is included in the final budget document.
1
r w
L A
Licenses and Permits
Licenses and permits account for 5% of
General Fund revenues. Included in this
category are City occupational licenses and
ss,a00 oao
building permits. The City saw a significant
s5,00o oao
increase in activity in fiscal year 2005- Fiscal
years 2006 through 2009 reflect the slowdown
$s,a0a.000
in the real estate market, with 2010
i3,s00.00o
conservatively estimated approximately 2%
below the estimated actual amount for 2009.
tz,aoo oao
Years 2011 through 2014 are projected at a
x1,000 oao
modest average annual growth of
so
approximately 3%, in hopes of a gradual
recovery of the construction and real estate
market.
Projected
2005 2006 2007 2008 2003 2010 2011 2012 2013 2014
Asti
BUDGET COMPARISON BY FUND FOR
FISCAL YEARS 2006 - 2010
(MAJOR FUNDS)
GENERAL R!D
F�REATiQI WPACT
RMD IMPACT
ACRIAL
@iTT WTED
9lJDGEr
ACTUAL
EnWIED
BUDGET
ACTUAL
ES'TWM
BUDGET
voome
FY W98
FY DOM
FY 09r1D
FY VW
FY BaQ9
FY D9V10
FY 07008
FY oaa9
FY 04'10
em
Tam
966,919
1,278,W4
1,069,216
Fees
5,516.D91
5,465.8¢7
5,875,999
Tme6
_
I and I�mt s
4,364.095
3.446 260
3,314,648
vermwial Fevenue
6,153.203
4,219,286
4,177,028
66,772
470.398
4CQ000
3"argE-6TorServloe6
1,826390
1.841.005
1,970,768
-
-
-
frpac' -e6
-
-
428,693
121,493
4487
580,405
221,525
314349
ne6 and FafeDrE6
307.933
430.369
413,261
-
-
-
Wc8avoi6 Res --lie
630,151
631.831
792,794
20,000
451,0W
-
htere6l
1,3323.'9
1,201,477
972,394
65,959
1D84
270
232724
4,108
24000
'ers h
178,762
102.762
-
-
Souroes
918,418
-
-
-
-
Batancm&Fisme6
21,144,202
25,126,354
20,255,731
2997,687
25D1,160
361,668
7,711,978
6,749,57
2029213
nathres
Governer[
14,613.265
13,865,637
14,744,417
Safety
37.172905
36,776.025
39,018,805
st+al9wrorrarr.
5,648.499
4,148.139
3,829,089
n
-
23.216
ure a1i Recre3rcr
3,788.262
4,540,409
4,550,74
252.0
ana}
3,374,645
1,121,474
1,156,576
1.052,717
701.994
8W =
1,501,D11
937,358
Ice
3,272400
3,299,159
3,776,3E2
-
-
-
er6 Qt
492642
2625,DID
625,000
702 373
702 373
691.677
Bat— es 8Fvefime6
25,128,354
26,644.158
18,499,006
2501,160
2,3925dl
4,475
6,749,507
5.335,409
1.667,885
ORAL
nC90,973
93,220,002
85,699,551
4579,111
3,084,135
804,475
8,976,107
6775,110
Z355.562
GLOSSARY
AFL
A term used to identify an individual asset, liability, encumbrance control, or fund balance.
Accounting Procedures:
All processes which identify, record, classify and summarize financial information to produce financial
records.
Accounting System:
The total structure of records and procedures which discover, record, classify, summarize, and report
information on the financial position and results of operations of a government or any of its funds, fund
types, balanced account groups, organizational components.
Accrual Basis:
The basis of accounting under which transactions are recognized when they occur, regardless of the
timing of related cash flows.
Activqtvo
Represents a sectioNunit of a department.
Ad Valorem Tax Rate:
Property tax assessed in proportion to the value of the property.
COMMUNICATION
Service Statistics
t i n u e d)
Police
Sworn Personnel
117
.6
Civilian employees
33
Recreation & Open Space
Number of service calls
39.233
8.2
Number of 911 calls
30.761
Agriculture
Avg. emergency response time
4.22 min
evice
Fire Rescue
94.9%
tistical
FullUme employees
122
100%
Number of fire stations
5
dataNumber
of service calls
7.410
3
Avg. response time:
5.41 min.
Land Use & Building Activity
Land area E,66 09 sq- miles
% of Total Area
Residential 23.6
Commercial 2.5
Professional Office
.3
14 Industrial
.6
Conservation
41.5
Recreation & Open Space
1.0
Private Golf
8.2
Public/institutional
2.4
Agriculture
13.7
Water (Canals & Waterways)
1.1
Developed
94.9%
Undeveloped
5.1%
Skate Park
100%
Building Department
Permits issued 5,272
Total construction value $189,340,190
For FY ending 9/30/09
Public Facilities
Miles of City owned roadway 46.6
Miles of roadway overlay 2.5
Sq ft. of swales repairs 134,000
Miles of sidewalk repaired 1.50
Miles of storm drains cleaned 2.5
Parks & Recreation
Number of parks
11
Parks acreage, developed
168
Golf courses
1
Gorf course acreage
140
Soccertfootball fields
10
Roller hockey rinks
2
BasebalUsoftball fields
15
Basketball courts
12
RacquetbalUhandball courts
6
Skate Park
1
Tennis courts
19
Playgrounds
9
Swimming pools
3
THE CITY OF PALM BEACH GARDENS, FLORIDA
QUARTERLY FINANCIAL REPORT
FOR THE QUARTER ENDED DECEMBER 31, 2009
CITY OF PALM BEACH GARDENS
MEMORANDUM
TO: Mayor and Council
APPROVED: Ron Ferris, City Manager
DATE: February 22, 2010
FROM: Allan Owens, Finance Administrator
CC: Department Heads
Budget Oversight Committee
SUBJECT: Quarterly Financial Report Ended December 31, 2009
Attached for your review please find a copy of the Quarterly Financial Report for
the Quarter Ended December 31, 2009.
If you have any questions concerning this report, please do not hesitate to
contact me.
City of Palm Beach Gardens
Quarterly Financial Statement for
Quarter Ended December 31, 2009
Table of Contents
PAGE
Quarterly Overview
1
Analysis:
General Fund
Sources of Funds
3
Uses of Funds
8
Expenditure Comparison
11
Investment Report
14
Impact Fee Analysis
20
Grant Status Report
22
Capital Project Update Report
23
Budgetary Comparison Schedules
27
Financial Statements
Governmental Funds
Balance Sheet
43
Statement of Revenues, Expenditures, and Changes in Fund Balances
44
Proprietary Funds
Statement of Net Assets
45
Statement of Revenues, Expenses, and Changes in Fund Net Assets 46
City of Palm Beach Gardens
Quarterly Overview
I am pleased to present the financial report for the City of Palm Beach Gardens for the first quarter of fiscal year
2010 ending December 31, 2009. Listed below are significant events that occurred during the first quarter along
with financial highlights. The intent of these reports is to inform Council and the public of our financial position by
comparing actual results with the adopted budget and analyzing results to help make corrective actions as
appropriate.
The following is a list of significant events that occurred during the 1St quarter of fiscal year 2010:
❖ Council approved Resolutions 105 and 106, 2009 authorizing an additional 1% of bargaining unit
member's wages to be re- directed to the Police Voluntary Employee Beneficiary Associations (VEBA).
❖ Council approved Resolution 96, 2009 approving the purchase of a new fire engine from Ten -8 Fire
Equipment, Inc.
❖ Council approved Resolution 101, 2009 approving a 9/11 Memorial Art Piece and authorized funding for
the project out of the Art Impact Fund.
❖ Staff presented to Council various alternative revenue options, including solid waste assessment, utility
tax, electric franchise renewal, and communication service tax.
❖ Finance provided purchasing training to Recreation and coordinated RFP selection committee training to
all departments.
❖ The City celebrated its 50th birthday with the unveiling of the John D. MacArthur statue, which was paid
for by a portion of the $250,000 grant from the MacArthur Foundation.
❖ Council approved Ordinances 38 and 39, 2009, amending the FY 2010 budget by recording carry
forwards and adjusting fund balances to actual.
Financial Highlights
❖ The City's general fund ended the quarter with a combined fund balance of approximately $56 million. Of
this amount, $49.6 million is unreserved, undesignated, which is available to meet the City's ongoing
commitments.
❖ The general fund generated $45.3 million in revenue with $16.3 million in expenditures to date.
❖ The City's general fund revenues decreased by approximately $270,000 or less than 1 % compared to the
same quarter in the prior year. Although the City is projected to collect $3 million less in ad valorem
taxes, the amount collected through the end of the first quarter exceeds prior year collections at this point.
This trend will not continue in the next quarter.
❖ The City's general fund expenditures increased 3% or approximately $466,000 compared to the same
quarter in the prior year. The increase is a net result of an increase to public safety expenditures of 9% or
$765,000 and a decrease of 4% or $300,000 to the remaining general fund expenditures.
City of Palm Beach Gardens
Quarterly Overview
Capital Assets
During the 1St quarter, the City made payments of $568,711 in capital purchases for all funds.
The most significant capital projects during the 1 st quarter were as follows:
❖ MacArthur Foundation Statue — Totaled $131,000 or 24% of the total CIP payments during the quarter.
❖ Traffic Siqnal at Gardens Parkway and Fairchild Gardens —Totaled approximately $225,000 or 41 %
of the total CIP payments during the quarter.
❖ Traffic Signal at Hiatt Drive and Northlake Blvd. —Totaled approximately $71,000 or 13% of the total
CIP payments during the quarter.
Citywide, there are currently 23 CIP projects ongoing in various stages. Please see the Capital Project Update
Report on pages 19 — 22 for more detail.
Economic Outlook
As a result of the slowdown in the economy and housing market, the City's revenue streams will be constrained
throughout the fiscal year. Management will continue to be proactive to the situation by monitoring and reducing
expenditures where possible, and will strive to prevent an excess of expenditures over revenues collected
throughout the year. In order to achieve this goal, department heads will attempt to minimize the impacts on the
level of services required to residents.
Sources of Funds
General Fund
Quarter Ended December 31, 2009
Ad Valorem Taxes
Current Year to Current Year
Date Actual Budget % Received
39,530,181 46,847,492 84.38%
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
Current Yearto Date Current Year Budget
Actual
Local Business Taxes
Current Year to Current Year
Date Actual Budget % Received
1,391,930 1,569,469 88.69%
2,000,000
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
Current Yearto Date Current Year Budget
Actual
.i7
Budgeted Ad Valorem taxes were 84% collected
through the first quarter of fiscal year 2010. Collected
amounts appear to be in line with the budgeted
amount.
Local Business taxes are currently 89% collected at
the end of the first quarter. Additional revenue
collected throughout the fiscal year will be related to
businesses opening. The majority of current year
balance relates to business license renewals.
(Continued)
Utility Taxes
Sources of Funds
General Fund
Quarter Ended December 31, 2009
Current Year to Current Year
Date Actual Budget % Received
257,608 1,069,216 24.09%
1,200,000
1,000,000
800,000
600,000
400,000
200,000
Current Yearto Date Current Year Budget
Actual
Franchise Fees
Current Year to Current Year
Date Actual Budget % Received
1,316,661 5,875,999 22.41%
2,800,000
2,400,000
2,000,000
1,600,000
1,200,000
800,000
400,000
Current Yearto Date Current Year Budget
Actual
4
Utility taxes are in line with the budgeted amount with
24% collected in the first quarter of FY 2010.
Franchise Fees are currently 22% collected at the end
of the first quarter. Revenues in this category receive
the largest payment during the third quarter, which
includes the true up adjustment. Revenues included in
this category include both electric and solid waste
franchise fees.
(Continued)
Sources of Funds
General Fund
Quarter Ended December 31, 2009
Licenses and Permits
Current Year to Current Year
Date Actual Budget % Received
501,195 1,611,107 31.11%
2,800,000
2,400,000
2,000,000
1,600,000
1,200,000
800,000
400,000 j
I.
Current Yearto Date Current Year Budget
Actual
Intergovernmental Revenue
Current Year to Current Year
Date Actual Budget % Received
1,091,345 4,341,100 25.14%
5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
Current Yearto Date Current Year Budget
Actual
Currently 31% of the budgeted revenues for this
category have been received. The largest portion of
revenues relates to building permits which represent
approx. $456,000 or 91% of total license and permit
revenue collected. Building permits are currently
exceeding quarterly budgeted figures with
approximately 33% of budgeted amounts collected.
Intergovernmental Revenue appears to be in line with
budgeted revenues through the end of the first quarter
Revenues included in this category include federal and
state grants, 1/2 cent sales tax, and state shared
revenues.
(Continued)
Sources of Funds
General Fund
Quarter Ended December 31, 2009
Charges for Services
Current Year to Current Year
Date Actual Budget % Received
562,235 1,970,768 28.53%
2,400,000
2,000,000
1,600,000
1,200,000
800,000
400,000
Current Yearto Date Current Year Budget
Actual
Fines and Forfeitures
Current Year to Current Year
Date Actual Budget % Received
104,521 443,281 23.58%
500,000
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
Current Year to Date Current Year Budget
Actual
6
Charges for Services exceeded budgeted amounts
through the end of the 1st quarter. Revenues included
in this category are EMS fees and fire inspection fees.
Fines and Forfeitures are slightly below budgeted
figures for the first quarter of FY 2010. The largest
revenues included in this category are court fines
which consist of parking violations, a portion of traffic
fines paid to Palm Beach County and code
enforcement fines. Code enforcement fines totaled
approximately $74,000 compared to the annual budget
amount of $136,000.
(Continued)
Sources of Funds
General Fund
Quarter Ended December 31, 2009
Investment Income
Current Year to Current Year
Date Actual Budget % Received
122,803 922,394 13.31%
1,000,000
900,000
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
Current Yearto Date Current Year Budget
Actual
Miscellaneous
Current Year to Current Year
Date Actual Budget % Received
407,508 792,794 51.40%
900,000
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
Current Year toDate Current Year Budget
Actual
7
Investment Income is significantly lower than budgeted
figures through the end of the first quarter. Interest
rates continue to decline as a result of current
economic conditions.
Miscellaneous revenue exceeds budgeted figures
through the end of the 1st quarter as a result of
donations received from the MacArthur Foundation for
$140,000 and reimbursement of City services totaling
approximately $150,000, which already exceeds the
annual budgeted amount. This line item records
payments to the City for median maintenance.
Uses of Funds
General Fund
Quarter Ended December 31, 2009
General Government
Current Year to Current Year
Date Actual Budget %Spent
3,602,391 14, 828, 568 24.29%
18,000,000
15,000,000
12,000,000
9,000,000
6,000,000
3,000,000
C u rrent Year to Date Current Year Budget
Actual
Public Safety
Current Year to Current Year
Date Actual Budget %Spent
9,375,591 39,233,558 23.90%
45,000,000
40,000,000
35,000,000
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
Current Year to Date Current Year Budget
Actual
8
General Government expenditures excluding capital
outlay appear to be in line with budgeted amounts
through the end of the 1st quarter.
Public Safety expenditures excluding capital outlay are
below the budget through the end of the 1st quarter
with 23.90% spent to date.
(Continued)
Uses of Funds
General Fund
Quarter Ended December 31, 2009
Culture and Recreation
Current Year to Current Year
Date Actual Budget %Spent
945,434 4,575,525 20.66%
5,000,000
4,500,000
4,000,000
3,500,000
3,000,000 Culture and Recreation expenditures excluding capital
2,500,000 outlay are significantly lower than budgeted numbers
2,000,000 through the end of the 1st quarter. Actual
1,500,000 expenditures are below quarterly budgeted amounts
1,000,000 by 4.34 %.
500,000
C u rrent Year to Date Current Year Budget
Actual
Physical Environment
Current Year to Current Year
Date Actual Budget %Spent
861,434 3,884,637 22.18%
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000 Physical Environment expenditures excluding capital
1,500,000 outlay are lower than budgeted numbers through the
1,000,000 end of the 1 st quarter by 2.82 %.
500,000
Current Yearto Date Current Year Budget
Actual
7
(Continued)
Capital Outlay
Uses of Funds
General Fund
Quarter Ended December 31, 2009
Current Year to Current Year
Date Actual Budget %Spent
220,844 2,496,922 8.84%
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
Current Year to Date
Actual
Debt Service
Current Year Budget
Current Year to Current Year
Date Actual Budget %Spent
1,322,612 3,276,382 40.37%
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
Current Yearto Date Current Year Budget
Actual
ID
Capital Outlay expenditures which represent only 4%
of total budgeted general fund expenditures during the
current fiscal year are currently 8.84% spent through
the end of the 1st quarter.
Debt Service payments are based on scheduled
payments from amortization schedules. Amounts will
be in line with budget at the end of the year. To date,
actual debt service expenditures totaled approximately
40% of the budgeted amount.
Current Year vs. Prior Year Analysis
General Fund
Quarter Ended December 31, 2009
General Government
Prior Year to Date Current Year to Increase/
Actual Date Actual (Decrease) %Change
3,644,078 3,602,391 (41,687) -1.14%
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
Prior Year to Date Actual Current Yearto Date Actual
Public Safety
Prior Year to Date Current Year to Increase/
Actual Date Actual (Decrease) %Change
8,609,747 9,375,591 765,844 8.90%
10,000,000
9,500,000
9,000,000
8,500,000
8,000,000
7,500,000
7,000,000
6,500,000
6,000,000
Prior Year to Date Actual Current Year to Date Actual
11
General Government expenditures
excluding capital outlay appear
reasonable with prior year expenditures.
Current year figures are $41K or 1.14%
lower than the prior year. The decrease
is a result of budget cuts in personnel,
offset by increases in solid waste
disposal and insurance costs.
Public Safety expenditures excluding
capital outlay have increased over the
prior year by 9% or $766K as a result of
an increase in personnel related
expenditures. Salaries increased per
approved union contracts of 6% for
police and 3% for fire. Also, retirement
contributions increased based on the
latest actuarial reports with police
contribution rates increasing by 2.5% to
38.28% of covered wages and fire
contributions increasing by 2.55% to
33.73% of covered wages.
(Continued)
Current Year vs. Prior Year Analysis
General Fund
Quarter Ended December 31, 2009
Culture and Recreation
Prior Year to Date Current Year to Increase/
Actual Date Actual (Decrease) %Change
821,221 945,434 124,213 15.13%
1,000,000
800,000
600,000
400,000
200,000
PriorYear to Date Actual Current Yearto Date Actual
Physical Environment
Prior Year to Date Current Year to Increase/
Actual Date Actual (Decrease) %Change
1,302,078 861,434 (440,644) - 33.84%
1,600,000
1,200,000
800,000
400,000
Prior Year to Date Actual Current Yearto Date Actual
If±,
Culture and Recreation expenditures
excluding capital outlay have increased
by approximately $124K or 15% as a
result of departmental changes. During
the current year, the grounds
maintenance division is grouped as part
of the parks division under culture and
recreation. In the prior year, the grounds
division was recorded as part of physical
environment.
Physical Environment expenditures
excluding capital outlay are $441K or
34% lower than prior year expenditures
through the end of the first quarter. The
decrease is a result of departmental
changes and budget cuts. During the
current year, the grounds maintenance
division is grouped as part of the parks
division under culture and recreation. In
the prior year, the grounds division was
recorded as part of physical
environment.
(Continued)
Current Year vs. Prior Year Analysis
General Fund
Quarter Ended December 31, 2009
Capital Outlay
Prior Year to Date
Current Year to
Increase/
Actual
Date Actual
(Decrease)
%Change
166,409
220,844
54,435
32.71%
250,000
200,000
150,000
100,000
50,000
Prior Year to Date Actual Current Year to Date Actual
Debt Service
Prior Year to Date Current Year to Increase/
Actual Date Actual (Decrease) %Change
1,318,688 1,322,612 3,924 0.30%
2,000,000
1,600,000
1,200,000
800,000
400,000
PriorYear to Date Actual Current Yearto Date Actual
13
Capital Outlay expenditures increased
by $54K or 33% compared to the prior
year mostly as a result of project timing.
During the prior year, only 15% of total
capital outlay expenditures were spent
during the first quarter. The majority of
expenditures were accounted for later in
the fiscal year.
Debt Service payments are based on
scheduled payments from amortization
schedules. Amounts appear reasonable
compared with prior year expenditures.
Investment Report
For the Quarter ended December 31, 2009
The following pages provide information on the City's managed investment portfolio provided by PFM
Asset Management, LLC for the quarter ended December 31, 2009. Information provided includes
security type and description, rating, trade and settlement date, original cost, yield to maturity (YTM) at
cost, accrued interest, amortized cost and market value. Some of the more notable items for the quarter
include:
• The City's Investment Portfolio is of high credit quality and maintains adequate liquidity.
• At its December meeting, the FOMC reaffirmed that "economic conditions are likely to warrant
exceptionally low levels of the federal funds rate for an extended period" and left the target rate
unchanged at the range of 0% - 0.25 %.
• Yield to maturity at cost for the period ending 12/31/2009 of 1.19% is 72 basis points above the
one -year Treasury bill rate of .47 %.
2010 will continue to provide challenges during a protracted recovery. PFM will continue to follow the
prudent investment strategies that have safely provided the City with favorable long -term performance
during this period of significant market and economic turmoil. PFM will closely monitor the markets for
opportunities to safely enhance the portfolio's long -term performance by taking advantage of pricing
differences that develop between different sectors, maturities and issuers.
In addition to the Managed Account Summary information attached the City also holds the following
investments: PFM Money Market account $9,503,697, SunTrust Certificate of Deposit $3,212,297 and
Wachovia Government Money Market $70,578.
14
CPFN1'
quManaged Account Summary Statement For the Month Ending December 31, 2009
PALM BEACH GARDENS' INVESTMENT PORTFOLIO - 68890500
Transaction Summary - Managed Account Cash Transactions Summary - Managed Account
Opening Market Value $23,218,297.26 Maturities /Calls 2,490,000.00
Maturities /Calls (2,490,000.00) Sale Proceeds 4,517,194.89
Principal Dispositions (4,511,277.16) Coupon /Interest Income 36,479.57
Principal Acquisitions 5,465,556.82 Principal Payments 0.00
Unsettled Trades 0.00 Security Purchases (5,466,594.15)
Net Cash Contribution 0.00
Change in Current Value (166,775.04) Reconciling Transactions 0.00
Closing Market Value $21,515,801.88
Interest/Coupons Received
42,397.30 Closing Cash Balance $1,710,383.36
Less Purchased Interest Related to Interest/Coupons
(1,037.33)
Plus Net Realized Gains /Losses
26,010.85
Total Cash Basis Earnings
$67,370.82
Earnings Reconciliation (Accrual Basis)
Ending Amortized Value of Securities
Total
21,520,626.25
Ending Accrued Interest
83,498.08
Plus Proceeds from Sales
4,517,194.89
Plus Proceeds of Maturities /Calls /Principal Payments
2,490,000.00
Plus Coupons Received
36,479.57
Less Cost of New Purchases
(5,466,594.15)
Less Beginning Amortized Value of Securities
(23,047,085.13)
Less Beginning Accrued Interest
(90,239.08)
Total Accrual Basis Earnings
$43,880.43
PFM Asset Management LLC
15
Account 68890500 Page 1
ri
Portfolio Summary and Statistics For the Month Ending December 31, 2009
PALKBEACH GARDENS INVESTMENT PORTFOLIO - 68890500
Account Summary Sector Allocation
Description
Par Value
Market Value
Percent
U.S. Treasury Bond / Note
6,510,000.00
6,478,376.32
30.11
Federal Agency Bond / Note
14,780,000.00
15,037,425.56
US TSY Bond /
69.89 30.
Managed Account Sub -Total
21,290,000.00
21,515,801.88
100.00016
Accrued Interest
83,498.08
Total Portfolio
21,290,000.00
21,599,299.96
Unsettled Trades
Maturity Distribution
0.00 0.00
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years
PFM Asset Management LLC
R.
Fed Agy Bond /
Note
69.89%
Yield to Maturity at Cost 1.19%
Yield to Maturity at Market 1.17%
Duration to Worst 1.83
Weighted Average Days to Maturity 684
Account 68890500 Page 2
Managed Account Issuer Summary
PALM! -BEACH GARDENS INVESTMENT PORTFOLIO - 68890500
Total
$21,515,801.88 100.000/0
TSY
30.11%
For the Month Ending December 31, 2009
Credit Quality (S &P Ratings)
69.89%
Account 68890500 Page 3
PFM Asset Management LLC
17
Market Value
Issuer
of Holdings
Percent
FANNIE MAE
3,016,437.50
14.02
FEDERAL HOME LOAN BANKS
5,006,003.13
23.27
FREDDIE MAC
7,014,984.93
32.60
UNITED STATES TREASURY
6,478,376.32
30.11
Total
$21,515,801.88 100.000/0
TSY
30.11%
For the Month Ending December 31, 2009
Credit Quality (S &P Ratings)
69.89%
Account 68890500 Page 3
PFM Asset Management LLC
17
Mir—
Managed Account Detail of Securities Held For the Month Ending December 31, 2009
PALM BEACH GARDENS INVESTMENT PORTFOLIO - 68890500
Security Type/ Description
2,000,000.00
AAA
S&P
Moody's
Trade
Settle
Original
YTM
Accrued
Amortized
Market
Dated Date /Coupon /Maturity
U.S. Treasury :, Note
CUSIP
Par
Rating
Rating
Date
Date
Cost
at Cost
Interest
Cost
Value
US TREASURY NOTES
9128281Y7
990,000.00
TSY
TSY
11/24/09
11/25/09
995,839.45
0.37
3,625.07
995,339.31
993,093.75
DTD 01/31/2009 0.875% 01/31/2011
07/08/09
07/09/09
1,422,506.70
1.19
9,801.46
1,419,563.95
1,423,659.38
3133XS4S4
2,000,000.00
AAA
Aaa
US TREASURY NOTES
912828KH2
1,000,000.00
TSY
TSY
04 /21/09
04/24/09
998,750.00
0.94
2,235.58
999,196.18
1,001,835.94
DTD 03/31/2009 0.875% 03/31/2011
500,200.00
1.48
1,083.33
500,185.48
499,531.25
3133XVRS2
1,000,000.00
AAA
Aaa
11/13/09
11116109
US TREASURY NOTES
912828MM9
1,990,000.00
TSY
TSY
12/04/09
12/08/09
1,986,346.48
0.84
1,312.09
1,986,467.93
1,977,019.23
DTD 11/30/2009 0.750% 11/30/2011
35.03
969,903.26
963,422.43
US TREASURY NOTES
912828KK5
1,000,000.00
TSY
TSY
04/21/09
04/24/09
1,001,796.88
1.31
2,946.43
1,001,380.31
1,000,938.00
DTD 04/15/2009 1.375% 04/15/2012
US TREASURY NOTES
912828MB3
1,530,000.00
TSY
TSY
12/28/09
12/30/09
1,510,277.34
1.57
803.88
1,510,313.83
1,505,489.40
DTD 12/15/2009 1.125% 12/15/2012
Security Type Sub -Total
FHLMC GLOBAL NOTES
DTD 04/04/2008 2.750% 04/11/2011
FHLMC GLOBAL NOTES
DTD 03/27/2009 1.625% 04/26/2011
FNMA GLOBAL NOTES
DTD 04/09/2009 1.375% 04/28/2011
FHLB NOTES
DTD 06/12/2009 1.625% 07/27/2011
FHLB GLOBAL BONDS
DTD 08/27/2008 3.625% 09/16/2011
FHLB NOTES (CALLABLE)
DTD 11/09/2009 1.500% 11/09/2011
FHLB NOTES
DTD 11/16/2009 1.000% 12/28/2011
FHLMC NOTES (CALLABLE)
DTD 12/30/2009 1.300% 12/30/2011
6,510,000.00 6,493,010.15 1.03 10,923.05 6,492,697.56 6,478,376.32
3137EABK4
2,000,000.00
AAA
Aaa
09/30/09
09/30/09
2,058,748.00
0.81
12,222.22
2,048,956.66
2,049,375.00
3137EABZ1
1,000,000.00
AAA
Aaa
04/21/09
04/24/09
1,004,700.00
1.39
2,934.03
1,003,081.97
1,010,625.00
31398AW01
1,900,000.00
AAA
Aaa
05/29/09
06/01/09
1,911,939.60
1.04
4,571.88
1,908,268.52
1,914,250.00
3133XTXH4
1,410,000.00
AAA
Aaa
07/08/09
07/09/09
1,422,506.70
1.19
9,801.46
1,419,563.95
1,423,659.38
3133XS4S4
2,000,000.00
AAA
Aaa
09/30/09
09/30/09
2,097,534.00
1.10
21,145.83
2,084,865.48
2,086,875.00
3133XVF09
500,000.00
AAA
Aaa
11/04/09
11/09/09
500,200.00
1.48
1,083.33
500,185.48
499,531.25
3133XVRS2
1,000,000.00
AAA
Aaa
11/13/09
11116109
997,670.00
1.11
83.33
997,808.83
995,937.50
3128X9RA0
970,000.00
AAA
Aaa
12/21/09
12/30/09
969,903.00
1.31
35.03
969,903.26
963,422.43
CPi S
PFM Asset Managelnent LLC
in
Account 68890500 Page 4
�r
Managed Account Detail of Securities Held For the Month Ending December 31, 2009
PALM BEACH GARDENS INVESTMENT PORTFOLIO - 68890500
Security Type/ Description
S&P
Moody's
Trade
Settle
Original
YTM
Accrued
Amortized
Market
Dated Date /Coupon /Maturity
Federal Agency Bond / Note
CUSIP
Par
Rating
Rating
Date
Date
Cost
at Cost
Interest
Cost
Value
I
FNMA GLOBAL BENCHMARK NOTES
31359MM03
1,000,000.00
AAA
Aaa
04/21/09
04/24/09
1,125,500.00
1.66
18,034.72
1,095,551.14
1,102,187.50
DTD 03/26/2002 6.125% 03/15/2012
FHLMC GLOBAL NOTES
3137EACC1
2,000,000.00
AAA
Aaa
05/29/09
06/01/09
2,000,852.00
1.74
1,555.56
2,000,687.74
2,008,750.00
DTD 05/21/2009 1.750% 06/15/2012
FHLMC NOTES
3137EACG2
1,000,000.00
AAA
Aaa
12/01/09
12/02/09
999.030.00
1.41
1,107.64
999,055.66
982,812.50
DTD 12/02/2009 1.375% 01/09/2013
Security Type Sub -Total 14,780,000.00 15,088,583.30 1.25 72,575.03 15,027,928.69 15,037,425.56
Managed Account Sub -Total 21,290,000.00 21,581,593.45 1.19 83,498.08 21,520,626.25 21,515,801.88
Securities Sub -Total $21,290,000.00 $21,581,593.45 1.19% $83,498.08 $21,520,626.25 $21,515,801.88
Accrued Interest $83,498.08
Total Investments
t
PFM Asset Management LLC
19
$21,599,299.96
Account 68890500 Page 5
Impact Fee Analysis for
Quarter Ended December 31, 2009
Impact fees are collected in five capital program areas within the City, including Recreation, Police, Fire, Art, and
Roads. An analysis showing the impact fee balances available for spending is included in this section on the
following page. The analysis presents information for each separate fund showing beginning fund balances,
impact fees collected during the fiscal year, funds spent or earmarked, current project balances, and the amount
available for future projects. The analysis in this section will be used to assist project managers in the timing of
their projects. As part of the City's Land Development Code, impact fees are required to be expended or
encumbered within six years of collection. Fee payers are entitled to refunds if their fees are not spent or
encumbered within those time frames.
As of the first quarter, 79% of the total budgeted impact fee revenues have been collected. Since the economic
down turn, impact fee budgets have been reduced significantly. During the first quarter, Frenchman's Reserve,
Mirasol and Paloma obtained residential building permits. Also during the first quarter, Frenchman's Crossing
obtained commercial building permits. The City continues to closely monitor related projects and expenditures.
The remainder of this page is intentionally left blank.
20
Impact Fees
Available Fund Balance Analysis
Quarter Ended December 31, 2009
Recreation Police Fire Art Road
Impact Impact Impact Impact Impact
Beginning Fund Balance - 10/1/2009 $ 1,862,326 $3,849,799 $141,764 $891,262 $4,052,133
Impact Fee Collections
94,056
17,663 34,026
- 249,591
Other Revenue
- - -
(400, 000)
-
(Transfers, Grants, Interest income)
291
35,603 395
45,607 5,617
Amount Spent
(38,926)
(6,057) (34,378)
(7,400) (468,910)
Amount Encumbered (Earmarked)
(35,798)
(27,997) -
- (253,237)
Ending Fund Balance 1,881,949 3,869,010 141,808 929,469 3,585,194
Add:
Uncollected Grant Revenue
Outstanding Transfer from Fire Impact
Outstanding Transfer to Police Impact
Less:
Current Project Balances to Complete:
PGA Park Improvements
Aquatic Complex Deck
Expansion /Restroom
Lilac Park Phase III
PGA Park Phase III
City Park Phase III
Lilac Park Phase IV
EOC Building
Founders Garden Pavilion
Artistic Bus Shelters
9/11 Memorial
Art Maintenance
Kyoto Gardens Drive Extension
Railroad Crossing Improvements
Traffic Signal- Gardens Pkwy & Fairchild
Traffic Signal - Hiatt Dr. and Northlake
Blvd.
Traffic Signal - PBGHS Lilac & Military
870,398 - - - -
- 103,133 - - -
- (103,133) - -
(1,235,768) - - - -
(130,427) -
- - -
(325,783) -
- - -
(7,578) -
- - -
(400, 000)
-
(400, 000)
-
- (3,967,618)
- - -
- -
- (45,000) -
- -
- (495,000) -
- -
- (60,000) -
- -
- (147,600) -
- -
- - (66, 935)
- -
- - (996,308)
- -
- - (1,727)
- - - - (110,272)
Trail - - - - (357,000)
Available for Spending - 12/31/2009 $ 252,791 $ 4,525 $ 38,675 $181,869 $2,052,951
21
Grant Status Report
Project Grant Grant City Status
Source Amount Match
22
Site work has begun. Playground
delivered and awaiting installation. Fill for
Lilac Park Phase III
FRDAP
$135,611
$135,611
trail base delivered. Trail equipment
delivered and awaiting installation. Picnic
facility ordered.
PGA Park Phase III
FRDAP
$135,611
$135,611
Baseball field and softball field dugout
construction underway.
City received notice from FRDAP that
there is no funding available for 2009/
City Park Phase III
FRDAP
$200,000
$200,000
2010 application cycle. Application will
roll over as scored. City received ranking
of 24. Project will be placed on hold.
PGA Park Linear Passive
Department
$200,000
$200,000
Project is complete. Staff developing grant
Area
of Interior
close -out documents.
Received $250,000 to date. Grant
MacArthur
approved for costs relating to statue and
City's 50t" Anniversary
Foundation
$250,000
-
50th anniversary events. Statue delivered.
Statue base will be installed in mid
February.
City Park Natural Area
Grant applied for greenway
Educational & Interactive
FDOT
$699,985
-
improvements. Currently awaiting
Greenway
approval letter.
Grant approved. Chiller equipment
Municipal Complex Chiller/
US
ordered. Contracted with Hill -York for
Technical Consultant
Department
$244,800
-
installation. Awaiting response from DEP
Services
of Energy
regarding comments on RFP to hire
energy consultant.
BJA Recovery Act Edward
US
Department
Grant for two (2) LP readers and for
Byrne
of Justice
remaining amount for SatCom system that
Office of
$54,112
-
is partially funded by another grant.
Grant #2009 -SB -B9 -1766
Justice
Grant application submitted May 14, 2009.
Grant awarded July 09, 2009.
Programs
Edward Byrne Justice
US
Department
Grant for TracStar SATCOM System
Assist. Grant
of Justice
Satellite System for Command Post.
Office of
$13,150
$17,982
Grant application submitted June 23,
Grant #2009- H1688 -FL -DJ
Justice
2009.
Grant awarded August 24, 2009.
Programs
US
Department
Bulletproof Vest
of Justice
$23,380
_
Grant application submitted June 24,
Partnership (2009)
Office of
2009.
Justice
Programs
Office of
Grant to hire new police officers.
Community
Grant application submitted on April 14,
COPS Hiring Recovery
Oriented
$482,378
_
2009.
Program (CHRP)
Policing
Grant application denied on first attempt
Services
but application will be reconsidered in the
event more money becomes available.
22
Capital Project Update
As of December 31, 2009
Project
Project
Expended
Balance to
Project Description
Project Update
Name
Budget
as of
Complete
12/31/2009
This project includes the replacement of the
existing soccer Feld fencing and renovation
Replacement of the
of the existing playground. The following
soccer field fencing is
Klock Field
items make up the elements list for this
complete. The City is
Renovations
$174,000
$143,174.19
$30,825.81
project: fence repairs, installation of new
awaiting the gate
gates, installation of batting cage security
installation. New
fence, refurbishment of the existing
playground equipment
playground equipment and installation of
has been installed.
additional new pieces.
Currently, the Police Training Room is used
as the City's EOC during a hurricane event.
A careful evaluation of the Police building
revealed the building has structural
limitations that could be reached in a storm
with sustained winds of 110 mph. The City
City Council awarded
Emergency
will create a hardened building with the
Design -Build contract to
Operations
$4,128.378
$132,763
$3,995,615
ability to protect vital operational services
Pirtle Construction
Center
such as Police Dispatch, IT Services and
Company in December
certain public records; as well as provide a
2009, through Resolution
protected area that can act as an EOC
114, 2009.
when necessary but also be used for other
purposes when no emergency exists.
Current activities include alternatives
analysis and development of possible floor
plans.
This project includes the design and
construction of a railroad crossing at Kyoto
Gardens Drive and the FEC tracks just west
of A1A, which includes a proposed traffic
light at the Kyoto /A1A intersection, and
Roadway is complete and
Kyoto Gardens
construction of a 4 -lane roadway by
open. Low level lighting
Drive
$3,705,842
$3,638,906.60
$66,935.40
Catalfumo.
and additional intersection
Extension
lighting will be installed by
4 Lane Roadway - $4,838,301: Catalfumo
Spring 2010.
$3,304,970; City $1,533,331
FEC Settlement - $1,182,000
Winchester Courts Mitigation- $500,000
Engineering /Contingency - $385,820
Due to the excessive cost
of connection fees and
construction of an actual
sewer connection, the
This project consists of disconnecting
scope of work has
changed to rehabilitation
Golf Course
piping leading into the leaching field and
of the existing drainage
Sewer
$100,000
$30,045
$69,955
installing new piping from the club house to
field. To date, a
Connection
Northlake Blvd., to interconnect to the
contractor has been hired
existing force main sewer line.
to try and refurbish the
field. The City will
continue to monitor the
existing system for
performance.
Awaiting more information
Stormwater
and drawings from
System
$396,693.74
$195,595.73
$201,098.01
FEC Ditch
Seacoast regarding their
Improvements
(C -17 to RCA Boulevard)
new water line extension.
Ph V
This extension overlaps
this project.
23
Capital Project Update
As of December 31, 2009
Project Name
Project
Expended
Balance to
Project Description
Project Update
Budget
as of
Complete
12/31/2009
For "Quiet Zone"
designation, this project
includes design and
This project is on hold until
Railroad Crossing
installation of 4- quadrant
the FRA and the FEC
Improvements
$1,012,504.77
$15,196.62
$996,308.15
gates at each crossing as
resolve their lawsuit
well as crossing equipment
regarding the allowance of
upgrades to include other
"Quiet Zones" in Florida.
supplemental safety
measures.
Remove and replace existing
Roof replacement is
BRCRC Lobby & Art
roofing system for BRCRC
complete. Skylight
Room Roof
$150,000
$101,460.80
$48,529.20
lobby and art room roof
replacement is anticipated
Replacement
replacement.
to be complete by February
2010.
Traffic signal has been
Installation of a traffic signal
installed and intersection
Traffic Signal - Gardens
$500000
$28511988
$214
at the intersection of
alignment is being
Pkwy & Fairchild
,,.,880.12
Gardens Parkway and
complete. Project is
Fairchild Gardens Drive.
estimated to be complete
by March 2010.
Expansion of City Hall
Municipal Complex
$255000
-
$255000
parking lot to include surface
construction in areas
This project is currently on
Parking Lot Expansion
,
,
adjacent to Gardens Park
hold.
and Fire Station #1.
This project includes the
rehabilitation of seven
bridges within the city limits:
Mock Roos has completed
- Lighthouse Drive
a study for Allamanda and
Bridge Refurbishment
$897,000
$39,000
$858,000
-Holly Drive
Lighthouse Drive to
- MacArthur Boulevard
determine scope of work.
- Hickory Drive (2)
The design is underway.
- Allamanda Drive
- Avenue of the PGA
This project includes the
Traffic Signal -Hiatt Dr
$451,000
$300,643.46
$150,356.54
design and installation of
mast arm signals for the
Intersection improvements
& Northlake Blvd.
intersection of Hiatt Drive
are complete.
and Northlake Blvd.
This project includes the
construction of intersection
improvements and the
Traffic signal is not
installation of mast arm
warranted via an analysis
Traffic Signal - Gardens
$400,000
-
$400,000
signals at Gardens Pkwy and
conducted by McMahon
Pkwy & Kew Gardens
Kew Gardens Dr. This will
and Associates. Currently
improve traffic circulation
looking into stop sign as an
around the mall and adjacent
alternative.
businesses and
communities.
This project includes
construction of civic related
Phase I and Phase II are
improvements at the
complete. Phase III of this
Municipal Complex
$818,000
$317,314.08
$500,685.92
Municipal Complex.
project is currently on hold
Civic Enhancement
$808,000 was received from
pending the completed
Menin Development as part
construction of the EOC
of a Development Order for
building.
Downtown at the Gardens.
24
Capital Project Update
As of December 31, 2009
Project Name
Project
Expended
Balance to
Project Description
Project Update
Budget
as of
Complete
12/31/2009
This project includes
intersection improvements at
Lilac St. and Military Trail
and the installation of mast
arms and signals. As part of
the high school
Staff has reviewed 60%
reconstruction, all staff and
plans from the School
student parking have been
Board, and is obtaining
Traffic Signal - PBGHS
$357,000
$357,000
transferred to Lilac Street.
permits from the FDOT and
Lilac & Military Trail
The School Board is
the County. Construction of
responsible for the design
signal and roadway
and purchase of the mast
construction is scheduled
arms and the City will
for summer 2010.
construct the intersection
modifications. Construction
and maintenance of the
signal will be the
responsibility of the County.
The master plan has been
approved. Sports lighting
has been installed. Tennis
fencing and court
renovations are complete
as well as installation of the
boundless playground &
surfacing, putting green,
Expansion of PGA Park to
picnic facility, kayak launch
include multi - purpose fields,
and fishing pier. Field
field lighting, expanded
renovation construction is
playground area and
complete. Disc golf and
equipment, pavilion and
landscaping installation are
PGA Park
509
$2,,260
273366
$1,,.75
23589325
$1,,.
other amenities to meet the
in progress. Staff is putting
Improvements
needs of a growing
together a phasing plan to
community. Project will also
complete the remaining
include parking, security
items of the master plan.
lighting, site enhancements,
The tin roof overlay on
and sports turf
restrooms, soccer field,
enhancements.
parking and security lighting
are complete. The
remaining phase of the
project, which will begin
after football season,
includes a clubhouse, two
(2) pavilions, additional
parking, and security
lighting.
Restrooms are complete.
Expansion of the aquatic
Deck surfacing is currently
complex to include fitness
under design. Equipment
Aquatic Complex Deck
$250000
$11957277
$130
stations, added water
has been delivered for the
Expansion /Restroom
,,.,427.23
features, expanded party
aquatic spray play area.
enclosures, and increase
Currently, looking into an
restroom capacities.
alternative site for splash
ad.
Phase III of the project will
include the construction of a
FRDAP application
2 to 5 year old playground, a
submitted 9/29/2008.
shuffle board court, a bike
No funding is available for
City Park Phase III
$400,000
-
$400,000
trail to extend to an already
2009/ 2010 application
existing trail, additional
cycle. Application will roll
tennis court, picnic shelter,
over as scored. City
parking, lighting and
received ranking of 24.
landscaping.
25
Capital Project Update
As of December 31, 2009
Project Name
Project
Expended
Balance to
Project Description
Project Update
Budget
as of
Complete
12/31/2009
Phase IV elements of this
project include a fishing pier,
kayak launch, bridge
Staff will be applying for a
Lilac Park Phase IV
$400,000
-
$400,000
crossing the Thompson
FRDAP grant.
River, nature trail, parking,
security lighting and
landscaping.
Grant application score of
4/180. Staff received a
grant award of $135,611.
This project includes
RAB is working on the
installation of a new
master plan. Survey is
Lilac Park Phase III
$400,000
$43,169.15
$356,830.85
playground, basketball court,
currently underway. Play
exercise trail, restrooms,
ground equipment and a
parking and picnic facilities.
picnic shelter have been
ordered.
Grant expiration date
04/30/2011.
Grant application score of
22/180. Staff received a
This project includes
grant award of $135,611.
installation of a new
Items included in grant
playground, basketball court,
application are included in
PGA Park Phase III
$350,000
$337,672.20
$12,327.80
soccer field, football field,
the overall master plan.
picnic facilities and the
Playground equipment and
renovation of the existing
surfacing have been
baseball and softball fields.
installed.
Grant expiration date
04/30/2011.
The City has received the
statue from Frudakis
The purpose of this project is
Studio. The statue was
to purchase and install an
unveiled at the City's 50th
MacArthur Foundation
$140,000
$130,914.33
$9,085.67
over life size bronze
birthday celebration in
Statue
sculpture of John D.
November 2009.
MacArthur.
Preparation is currently
underway to install the
statue at its permanent
location.
MacArthur
This project includes the
The AIPP and RA Boards
Foundation —
installation of a gazebo or
met to discuss preliminary
Founders Garden
$45,000
TBD
pergola to be located at the
plans to bring art into the
Pavilion
Lake Catherine Passive
project. Both boards are
AIPP Fund -
Park.
currently developing jointly
TBD
a Call To Artist RFP.
The City of Palm Beach
Gardens is in search of two
(2) artists to work with their
own general contractors and
Oral presentations by the
engineers to design,
five (5) short listed
fabricate, construct and
proposals were held on
install outdoor bus shelters to
January 19 and 20th. The
be placed at up to four (4)
Selection Committee chose
Artistic Bus Shelters
$500,000
$5,000
$495,000
separate locations along
to reject all five (5) of the
PGA Boulevard and up to
proposals. This suggestion
four (4) separate locations
will be heard by the AIPP
along Military Trail within the
board on February 16,
City of Palm Beach Gardens.
2010.
The City is interested in
creating a corridor /series of
artistic bus shelters along
these roadways.
26
Budgetary Comparison Schedule
General Fund
Quarter Ended December 31, 2009
27
Actual to
Received/
Budget
Date
Spent
Revenues:
Taxes:
Ad valorem taxes
$ 46,847,492
$ 39,530,181
84.38%
Local business tax
1,569,469
1,391,930
88.69%
Utility taxes
1,069,216
257,608
24.09%
Franchise fees
5,875,999
1,316,661
22.41%
Licenses and permits
1,611,107
501,195
31.11%
Intergovernmental
4,341,100
1,091,345
25.14%
Charges for services
1,970,768
562,235
28.53%
Fines and forfeitures
443,281
104,521
23.58%
Investment income
922,394
122,803
13.31%
Miscellaneous
792,794
407,508
51.40%
Total revenues
65,443,620
45,285,987
69.20%
Expenditures:
Current:
General government:
City Council
$ 274,835
$ 69,834
25.41%
Administrative services
551,868
136,604
24.75%
Information services
1,124,705
242,944
21.60%
City clerk
486,190
80,149
16.49%
Legal services
333,359
70,984
21.29%
Public relations
121,425
28,528
23.49%
Engineering services
381,719
50,670
13.27%
Human resources
697,615
136,683
19.59%
Finance
987,941
212,354
21.49%
Honda Classic
89,040
-
0.00%
General services
5,965,034
1,747,481
29.30%
Growth management:
Administrative
545,413
100,911
18.50%
Development compliance
264,418
57,816
21.87%
Planning
558,013
119,674
21.45%
GIS
156,868
35,257
22.48%
Construction services - building
1,537,147
349,619
22.74%
Code enforcement
752,978
162,883
21.63%
Total general government
14,828,568
3,602,391
24.29%
Public safety:
Police
21,730,526
5,229,910
24.07%
Fire and emergency services
17,503,032
4,145,681
23.69%
Total public safety
39,233,558
9,375,591
23.90%
27
28
20.66%
18.01%
19.98%
21.32%
24.98%
15.40%
21.03%
20.66%
22.06%
22.07%
22.33%
22.18%
8.84%
40.03%
41.21%
40.37%
23.91%
0.00%
25.00%
25.00%
Budgetary Comparison Schedule
General Fund
Quarter Ended December 31, 2009
Culture and recreation:
Administrative services
422,749
87,335
Athletics
162,787
29,321
Seniors and wellness
42,273
8,445
Aquatics
362,945
77,395
Tennis
152,332
38,052
Programs division
300,002
46,200
Parks and grounds
3,132,437
658,686
Total culture and recreation
4,575,525
945,434
Physical environment:
Administrative services
786,615
173,561
Facilities maintenance
1,520,116
335,561
Stormwater maintenance
1,577,906
352,312
Total physical environment
3,884,637
861,434
Capital outlay:
2,496,922
220,844
Debt service:
Principal
2, 342, 058
937,575
Interest
934,324
385,037
Total debt service
3,276,382
1,322,612
Total expenditures
68,295,592
16,328,306
Excess (deficiency) of revenues
over (under) expenditures
(2,851,972)
28,957,681
Other financing sources (uses):
Transfers in
-
-
Transfers out
(625,000)
(156,250)
Total other financing sources (uses) (625,000)
(156,250)
Net change in fund balance
(3,476,972)
28,801,431
Fund balance, beginning of year
27,248,297
27,250,097
Fund balance, end of year
$ 23,771,325
$ 56,051,528
28
20.66%
18.01%
19.98%
21.32%
24.98%
15.40%
21.03%
20.66%
22.06%
22.07%
22.33%
22.18%
8.84%
40.03%
41.21%
40.37%
23.91%
0.00%
25.00%
25.00%
Revenues:
Taxes:
Ad valorem taxes
Local business tax
Utility taxes
Franchise Fees
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Investment income
Miscellaneous
Total revenues
Current Year vs. Prior Year Comparison Schedule
General Fund
$ 69,834
$ (14,189)
Quarter Ended December 31, 2009
128,208
136,604
Prior
Current
Increase/
%
Year
Year
(Decrease)
Change
$ 39,422,924
$ 39,530,181
$ 107,258
0.27%
1,469,133
1,391,930
(77, 203)
-5.26%
476,313
257,608
(218,705)
- 45.92%
1,340,794
1,316,661
(24,133)
-1.80%
607,772
501,195
(106,577)
- 17.54%
1,139, 328
1,091,345
(47, 983)
-4.21%
551,501
562,235
10,734
1.95%
90,878
104,521
13,643
15.01%
208,258
122,803
(85,456)
- 41.03%
7Gn Inn
An7 cn4
'fGG 740
0-7 Ano/
Expenditures:
Current:
General government:
City Council
Administrative services
Information services
City clerk
Legal services
Public relations
Engineering services
Human resources
Finance
Honda Classic
General services
Growth management:
Administrative
Development compliance
Planning
GIS
Construction services
Code enforcement
Total general government
Public safety:
Police
Fire and emergency services
Total public safety
$ 84,023
$ 69,834
$ (14,189)
- 16.89%
128,208
136,604
8,396
6.55%
219,765
242,944
23,179
10.55%
120,583
80,149
(40,434)
- 33.53%
61,027
70,984
9,957
16.32%
23,123
28,528
5,405
23.38%
27,966
50,670
22,704
81.19%
165,006
136,683
(28,323)
- 17.16%
207,537
212,354
4,817
2.32%
2,058
-
(2,058)
- 100.00%
1,640,131
1,747,481
107,350
6.55%
83,632
100,911
17,279
20.66%
47,287
57,816
10,529
22.27%
160,658
119,674
(40,984)
- 25.51%
35,079
35,257
178
0.51%
476,814
349,619
(127,195)
- 26.68%
BFI 101
1F7 QQ�
I 7m
9 nFO/_
4,624,392 5,229,910 605,518 13.09%
1� OQr- Qr-cz n lAr- czQ1 lczn QOr, n r»oi
29
Current Year vs. Prior Year Comparison Schedule
General Fund
Quarter Ended December 31, 2009
Culture and recreation
Administrative services
112,504
87,335
(25,169)
Athletics
49,381
29,321
(20,059)
Seniors and wellness
7,928
8,445
517
Aquatics
82,577
77,395
(5,182)
Tennis
31,108
38,052
6,943
Programs division
79,364
46,200
(33,164)
Special and cultural
48,253
-
(48,253)
Parks and grounds
410,106
658,686
248,580
Total culture and recreation
821,221
945,434
124,213
Physical environment
Administrative services
204,461
173,561
(30,900)
Grounds and facilities
313,266
-
(313,266)
Facilities maintenance
389,390
335,561
(53,829)
Stormwater maintenance
209,364
352,312
142,947
Street maintenance
185,597
-
(185,597)
/A AID n A\
Total physical environment 1,302,078 861,434
Capital outlay: 166,409 220,844
Debt service:
- 22.37%
- 40.62%
6.52%
-6.28%
22.32%
- 41.79%
- 100.00%
15.13%
- 15.11%
- 100.00%
- 13.82%
68.28%
- 100.00%
- 33.84%
54,435 32.71%
Principal
904,467
937,575
33,108
Interest
414,221
385,037
(29,184)
Total debt service
1,318,688
1,322,612
3,924
Total expenditures
15,862,220
16,328,306
466,086
Excess (deficiency) of revenues
25,128,354
27,250,097
2,121,743
over (under) expenditures
29,695,471
28,957,681
(737,790)
Other financing sources (uses):
Transfers in
25,690
-
(25,690)
Transfers out
(156,250)
(156,250)
-
Total other financing sources (uses)
(130,560)
(156,250)
(25,690)
Net change in fund balance
29,564,910
28,801,431
(763,479)
Fund balance, beginning of year
25,128,354
27,250,097
2,121,743
Fund balance, end of year
$ 54,693,264
$ 56,051,528
$ 1,358,264
30
3.66%
-7.05%
- 100.00%
0.00%
Revenues:
Intergovernmental
Impact fees
Investment income
Total revenues
Expenditures:
Current:
Culture and recreation:
Capital outlay:
Total expenditures
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
Budgetary Comparison Schedule
Recreation Impact Fee Fund
Quarter Ended December 31, 2009
Actual to
Budget Date
$ 670,398 $ -
40,807 94,056
2,000 291
713,205 94,347
2,574,280 38,926
2,574,280 38,926
(1,861,075) 55,421
1,862,326 1,862,326
$ 1,251 $ 1,917,747
31
Received/
Spent
0.00%
230.49%
14.54%
13.23%
0.00%
1.51%
1.51%
Budgetary Comparison Schedule
Road Impact Fee Fund
Quarter Ended December 31, 2009
32
Received/
Spent
80.42%
28.09%
77.25%
0.00%
11.93%
11.93%
0.00%
25.00%
25.00%
Actual to
Budget
Date
Revenues:
Impact fees
$ 310,349
$ 249,591
Investment income
20,000
5,617
Total revenues
330,349
255,208
Expenditures:
Current:
Transportation
-
-
Capital outlay
2,481,471
295,991
Total expenditures
21481,471
295,991
Excess (deficiency) of revenues
over (under) expenditures
(2,151,122)
(40,783)
Other financing sources (uses):
Transfers in
-
-
Transfers out
(691,677)
(172,919)
Total other financing sources (uses)
(691,677)
(172,919)
Net change in fund balance
(2,842,799)
(213,702)
Fund balance, beginning of year
4,052,134
4,052,133
Fund balance, end of year
$ 1,209,335
$ 3,838,431
32
Received/
Spent
80.42%
28.09%
77.25%
0.00%
11.93%
11.93%
0.00%
25.00%
25.00%
Budgetary Comparison Schedule
Police Training Fund
Quarter Ended December 31, 2009
33
Actual to
Received/
Budget
Date
Spent
Revenues:
Fines and forfeitures
$ 15,000
$ 3,164
21.09%
Total revenues
15,000
3,164
21.09%
Expenditures:
Current:
Public safety:
Police
14,000
5,361
38.29%
Total public safety
14,000
5,361
38.29%
Total expenditures
14,000
5,361
38.29%
Net change in fund balance
1,000
(2,197)
Fund balance, beginning of year
15,107
15,106
Fund balance, end of year
$ 16,107
$ 12,909
33
Budgetary Comparison Schedule
Recreation Programs
Quarter Ended December 31, 2009
34
Actual to
Received/
Budget
Date
Spent
Revenues:
Charges for services
$ 2,903,573
$ 728,089
25.08%
Investment income
2,909
462
15.88%
Miscellaneous
6,279
1,562
24.88%
Total revenues
2,912,761
730,113
25.07%
Expenditures:
Current:
Culture and recreation:
Administrative services
249,695
68,754
27.54%
Athletics
237,546
27,659
11.64%
Aquatics
171,186
9,521
5.56%
Tennis
633,426
126,541
19.98%
Programs division
686,628
179,336
26.12%
Youth Enrichment
956,859
171,849
17.96%
Total culture and recreation
2,935,340
583,659
19.88%
Total expenditures
2,935,340
583,659
19.88%
Net change in fund balance
(22,579)
146,454
Fund balance, beginning of year
703,361
703,361
Fund balance, end of year
$ 680,782
$ 849,815
34
Budgetary Comparison Schedule
Golf Fund
Quarter Ended December 31, 2009
35
Actual to
Received/
Budget
Date
Spent
Revenues:
Charges for services
$ 1,372,548
$ 332,055
24.19%
Investment income
678
131
19.29%
Miscellaneous
131,134
18,341
13.99%
Total revenues
1,504,360
350,527
23.30%
Expenditures:
Current:
Culture and recreation:
Administrative services
224,936
37,047
16.47%
Maintenance
771,465
167,907
21.76%
Pro shop
493,233
100,766
20.43%
Total culture and recreation
1,489,634
305,720
20.52%
Total expenditures
1,489,634
305,720
20.52%
Net change in fund balance
14,726
44,807
Fund balance, beginning of year
264,615
266,347
Fund balance, end of year
$ 279,341
$ 311,154
35
Budgetary Comparison Schedule
Local Option Gas Tax
Quarter Ended December 31, 2009
36
Received/
Spent
24.15%
14.41%
24.08%
24.55%
0.45%
9.24%
Actual to
Budget
Date
Revenues:
Intergovernmental
$ 656,305
$ 158,486
Investment income
4,886
704
Total revenues
661,191
159,190
Expenditures:
Current:
Transportation
494,822
121,501
Capital outlay
861,900
3,900
Total expenditures
1,356,722
125,401
Net change in fund balance
(695,531)
33,789
Fund balance, beginning of year
1,526,015
1,526,014
Fund balance, end of year
$ 830,484
$ 1,559,803
36
Received/
Spent
24.15%
14.41%
24.08%
24.55%
0.45%
9.24%
Revenues:
Intergovernmental
Total revenues
Expenditures:
Current:
Public safety
Capital outlay
Total expenditures
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
Budgetary Comparison Schedule
Police Grant Fund
Quarter Ended December 31, 2009
Budget
$ 10,000 $
10,000
10,000
$ 10,000 $
37
Actual to Received/
Date Spent
0.00%
0.00%
0.00%
0.00%
0.00%
Budgetary Comparison Schedule
Police Impact Fee Fund
Quarter Ended December 31, 2009
38
Actual to
Received/
Budget
Date
Spent
Revenues:
Impact fees
$ 35,698
$ 17,663
49.48%
Investment income
4,000
1,225
30.62%
Total revenues
39,698
18,888
47.58%
Expenditures:
Current:
Public safety
-
2,007
100.00%
Capital outlay
3,999,665
4,050
0.10%
Total expenditures
3,999,665
6,057
0.15%
Excess (deficiency) of revenues
over (under) expenditures
(3,959,967)
12,831
Other financing sources (uses):
Transfers in
137,510
34,378
25.00%
Transfers out
-
-
0.00%
Total other financing sources (uses)
137,510
34,378
25.00%
Net change in fund balance
(3,822,457)
47,209
Fund balance, beginning of year
3,849,799
3,849,799
Fund balance, end of year
$ 27,342
$ 3,897,008
38
Budgetary Comparison Schedule
Fire Impact Fee Fund
Quarter Ended December 31, 2009
39
Received/
Spent
29.91%
19.77%
29.74%
0.00%
0.00%
0.00%
0.00%
25.00%
25.00%
Actual to
Budget
Date
Revenues:
Impact fees
$ 113,746
$ 34,026
Investment income
2,000
395
Total revenues
115,746
34,421
Expenditures:
Current:
Public safety
-
-
Capital outlay
120,000
-
Total expenditures
120,000
-
Excess (deficiency) of revenues
over (under) expenditures
(4,254)
34,421
Other financing sources (uses):
Transfers in
-
-
Transfers out
(137,510)
(34,378)
Total other financing sources (uses)
(137,510)
(34,378)
Net change in fund balance
(141,764)
44
Fund balance, beginning of year
141,764
141,764
Fund balance, end of year
$ -
$ 141,808
39
Received/
Spent
29.91%
19.77%
29.74%
0.00%
0.00%
0.00%
0.00%
25.00%
25.00%
Budgetary Comparison Schedule
Art Impact Fee Fund
Quarter Ended December 31, 2009
40
Actual to
Received/
Budget
Date
Spent
Revenues:
Investment income
$ -
$ 607
100.00%
Miscellaneous
-
45,000
100.00%
Total revenues
-
45,607
100.00%
Expenditures:
Current:
Culture and recreation
-
2,400
100.00%
Capital outlay
605,000
5,000
0.83%
Total expenditures
605,000
7,400
1.22%
Net change in fund balance
(605,000)
38,207
Fund balance, beginning of year
891,262
891,262
Fund balance, end of year
$ 286,262
$ 929,469
40
Budgetary Comparison Schedule
PGA Flyover Capital Project Fund
Quarter Ended December 31, 2009
Revenues:
Investment income
Miscellaneous
Total revenues
Expenditures:
Current:
Transportation
Debt service:
Principal
Interest
Total debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
41
Actual to
Received/
Budget
Date
Spent
$ -
$ -
0.00%
286,187
112,272
39.23%
286,187
112,272
39.23%
337,600
57,833
17.13%
185,000
-
0.00%
99,963
49,846
49.86%
284,963
49,846
17.49%
622,563
107,679
17.30%
(336, 376)
4,593
625,000
156,250
25.00%
-
-
0.00%
625,000
156,250
25.00%
288,624
160,843
130,253
130,253
$ 418,877
$ 291,096
41
Budgetary Comparison Schedule
Burns Road Capital Project Fund
Quarter Ended December 31, 2009
Revenues:
Investment income
Miscellaneous
Total revenues
Expenditures:
Current:
Transportation
Debt service:
Principal
Interest
Total debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
42
Actual to
Received/
Budget
Date
Spent
$ -
$ 38
100.00%
-
-
0.00%
-
38
0.00%
-
-
0.00%
445,000
-
0.00%
246,678
123,339
50.00%
691,678
123,339
17.83%
691,678
123,339
17.83%
(691, 678)
(123, 301)
691,678
172,919
25.00%
-
-
0.00%
691,678
172,919
25.00%
-
49,618
282,272
282,272
$ 282,272
$ 331,890
42
ASSETS
Cash and cash equivalents
Investments
Receivables:
Accounts
Note
Franchise fees
Utililytaxes
Interest
Due from other funds
Due from other governments
Inventory
Prepaid expenditures
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Balance Sheet
Governmental Funds
December 31, 2009
Recreation Road Police Recreation Extra Duty Local Option Police Police Fire Art PGA Burns
General Impact Fees Impact Fees Training Programs Golf Police Gas Tax Grant Fund Impact Impact Impact Flyover Road Total
$36,068,609 $ 1,779,346 $ 5,619,183 $ 11,874 $ 882,940 $ 289,019 $ 52,109 $ 1,506,103 $ $ 3,862,630 $ 176,185 $ 942,469 $ 236,569 $ 331,890 $51,758,926
21,581,593 - - 21,581,593
260,018 26,760 54,527 341,305
350,000 350,000
863,496 863,496
71,667 71,667
93,002 93,002
- - - - - - - - - - - - - - -
297,674 138,401 1,035 53,700 ' 490,810
37,485 37,485
$59,586,059 $ 1,917,747 $ 5,619,183 $ 12,909 $ 882,940 $ 326,504 $ 78,869 $ 1,559,803 $ $ 3,862,630 $ 176,185 $ 942,469 '$ 291,096 $ 331,890 $ 75,588,284
Accounts payable
$ 2,364,171
$
$
$ $ 248
$ - $
$ $
$ $
$ -
$
$ 2,364,419
Accrued liabilities
1,170,160
2,371
8,641
13,000
1,194,172
Contracts and retainage payable
Due to other funds
Unearned revenue
200
1280152
30,506
6,709
1,818,167
Total liabilities
3,534,531
1,780,752
33,125
15,350
13,000
5,376,758
Fund balances:
Reserved for:
Encumbrances
1,207,672
35,798
253,237
2,965
161,544
83,825
27,997
-
185,307
1,958,345
Capital improvements
-
Debt service
2,395,707
2,395,707
Prepaid expenditures
Long term loan
350,000
350,000
Law enforcement
304,685
304,685
Inventory
-
37,485
-
-
37,485
Unreserved, designated for:
Capital projects
1,183,679
1,881,949
3,585,194
3,869,010 141,807
929,469
11,591,109
Subsequent year budget
Economic development
982,247
982,247
Unreserved, undesignated, reported in:
General fund
49,627,538
- -
- -
-
49,627,538
Special revenue funds
-
12,909 846,850
112,125 78,869
1,475,978
2,526,731
Capital projects funds
105,789
331,890 437,679
Total fund balances
56,051,528
1,917,747
3,838,431
12,909 849,815
311,154 78,869
1,559,803
3,897,007 141,807
929,469
291,096
331,890 70,211,526
Total liabilities and fund balances
59 586 059
1 917 747
5 619183
L 12 909 882 940
326 504 L 78 869
LjJ59 803 $
LIL97 007 141 807
L 42 469
L 91096
L 31 890 75 588 284
43
Revenues:
Taxes:
Ad valorem taxes
Franchise fees
Utility taxes
Franchise fees
Licenses and permits
Intergovernmental
Impact fees
Charges for services
Fines and forfeitures
Investment income
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Culture and recreation
Physical environment
Transportation
Capital outlay
Debt service:
Principal
Interest
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Transfers in
Transfer out
Total other financing sources
(uses)
Net change in fund balances
Fund balances, beginning of year
Fund balances, end of year
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
December 31, 2009
Recreation Road Police Recreation Extra Duty Local Option Police Police Fire Art PGA Burns
General Impact Fees Impact Fees Training Programs Golf Police Gas Tax Grant Fund Impact Impact Impact Flyover Road Total
$ 39,530,181 $ $ $ $ $ $ $ $
1,391,930
257,608
1,316,661
501,195
1,091,345 158,486
- 94,056 249,591 - - -
562,235 - - 728,089 332,055
104,521 - - 3,164 -
122,803 291 5,617 - 462 131 - 704
407,508 - - 1,562 18,341 88,102 -
45,285,987 94,347 255,208 3,164 730,113 350,527 88,102 159,190
3,602,391 - -
9,375,591 5,361 - - 87,558
945,434 - 583,659 305,720 -
861,434 - -
- 121,501
220,844 38,926 295,991 3,900
937,575 - - -
385,037 - - -
16,328,306 38,926 295,991 5,361 583,659 305,720 87,558 125,401
$ $ $ $ $ $ 39,530,181
1,391,930
257,608
1,316,661
501,195
1,249,831
17,663 34,026 395,336
- - 1,622,379
- - 107,685
1,225 395 607 - 38 132,273
45,000 112,272 - 672,785
18,888 34,421 45,607 112,272 38 47,177,864
3,602,391
2,007 - 9,470,517
- 2,400 1,837,213
- - 861,434
- - 57,833 179,334
4,050 5,000 - 568,711
- - 937,575
- - 49,846 123,339 558,222
6,057 7,400 107,679 123,339 18,015,397
28,957,681
55,421 40,783 2,197 146,454 44,807 544 33,789
12,831
34,421 38,207
4,593
123,301
29,162,467
-
- - - - -
34,378
-
156,250
172,919
363,547
156,250
172,919
34,378
363,547
156,250
172,919
34,378
34,378 -
156,250
172,919
-
28,801,431
55,421 (213,702) (2,197) 146,454 44,807 544 33,789
47,209
44 38,207
160,843
49,618
29,162,467
27,250,097
1,862,326 4,052,133 15,106 703,361 266,347 78,325 1,526,014
3,849,799
141,764 891,262
130,253
282,272
41,049,059
44
Statement of Net Assets
Proprietary Funds
December 31, 2009
Assets:
Cash and cash equivalents
Inventory
Capital assets not being depreciated
Capital assets being depreciated, net
Total assets
Liabilities:
Current liabilities:
Accounts payable
Claims payable
Total current liabilities
Noncurrent liabilities:
Compensated absences payable
Total noncurrent liabilities
Total liabilities
Net Assets:
Invested in capital assets, net of related debt (deficit)
Unrestricted
Total net assets (deficit)
45
Internal Service Funds
Fleet
Self
Management
Insurance
$ 282,807
$ 2,108,115
198,978
-
1,644,876
-
2,126, 661
2,108,115
-
37,601
-
1,353,494
-
1,391,095
31,572
-
31,572
-
31,572
1,391,095
1,644,876
-
450,213
717,020
$ 2,095,089
$ 717,020
Statement of Revenues, Expenditures, and Changes in Fund Net Assets
Proprietary Funds
December 31, 2009
Operating revenues:
Charges for services
Employer contributions
Employee contributions
Miscellaneous
Total revenues
Operating expenses:
Personnel expenses
Claims expense
Repair and maintenance
Fuel and chemicals
Operating supplies
Other professional and contractual
Other expenses
Capital outlay
Total operating expenses
Operating income (loss)
Non - operating revenues (expenses):
Investment earnings
Gain on sale of capital assets
Interest expense
Total non - operating revenues (expenses)
Income (loss) before transfers
Transfers in
Transfers out
Change in net assets
Net assets (deficit), beginning
Net assets (deficit), ending
46
Internal Service Funds
Fleet
Self
Management
Insurance
$ 560,035
$ -
-
1,404,069
-
150,015
143
4,170
$ 560,178
$ 1,558,254
154,137
-
-
1,165, 624
52,603
-
114,683
15,994
-
1,965
140,816
272
-
339,654
1,306,440
220,523
251,814
-
310
-
310
220,523
252,124
220,523
252,124
1,874,566
464,896
$ 2,095,089
$ 717,020
General Fund Financial Highlights
Over 80% of Ad Valorem Taxes are collected
during the ist quarter
go% of local business taxes are renewals and
collected during the ist quarter
Total General Fund revenue of $45.3 million
compared to $16.3 million in expenditures
Budgeted revenues were 69.20%collected
Budgeted expenditures were 23-91% spent
GENERAL FUND
REVENUES
Current"!"
Date Actual
$39,530,181
200'7
2008
2009
2010 YTD
Budget
$46,847,492
$50,541,564
$50,362,459
$50,314,207
$39,530,181
% Received
84.38%
5.655
5.254
5.399
5.539
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20.000,000
$10,000,000
Current Year to Date
Actual
Current Year Budget
2007 2008 2009 2010
Ad Valorem Taxes Millage Rate
Current Year to
Date Actual
$1,391,930 _
2007
2oo8
2009
2010 YTD
Current Year
Budget % Received
$1,569,469 88.69%
$17384,759
$1,531,977
$1,540,700
$1,391,930
$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
Current Year to Date
Actual
Saks Fifth Avenue
Macy's
Costco Wholesale
Bloomingdales
Nordstrom
Current Year Budget
$78584
$59942
$48370
$46,28o
$31,692
�I
Current Year
Date Actual
$257,608
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
.,urrent Tear Current Year to went Year
Budget % Received Date Actual Budget % Received
$1,069,216 24.09% $1,316,661 $5,875,999 22.41%
Current Year to Date Current Year Budget
Actual
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0 -
Current Year to Date
Actual
Current Year Budget
Current Year
Date Actual
Current Ye,-
Budget
% Received
$2,800,000
$2,400,000
$2,000,000
$1,600,000
!00,000
300,000
400,000
$0 -
�1
Current Year to Date
Current Year Budget
., - J,-J"
Frenchman's Crossing Publix $51,754
Paloma -15 homes $48,961
Seacoast $33,100
Frenchman's Reserve-2 $117661
homes
Current Year
Date Actual
$1,091,345
Zoo?
20o8
2009
2010 YTD
Current Year
Budget
$4,341,100
% Received
25.14%
$5,604,932
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Current Year to Date Current Year Budget
Actual
$611537203 State Revenue $228,976
$4,525,422 Sharing
1/z Cent Sales $742,013
$1109 1345 Tax
$259426
$768999
Curre Chit ear
Date Actual Budget % Received
$562,235 $1,970,768 28.53%
Current Year to Curren—t Year
Date Actual Budget % Received
$104,521 $443,281 23.58%
$2,400,000 $500,000
$450,000
$2,000,000 $400,000
$1,600,000 $350,000
$300,000
$1,200,000 $250,000
$200,000
$800,000 $150,000
$400,000 $100,000
$50,000
$0 $0
Current Year to Date Current Year Budget
Actual
Current Year to Date Current Year Budget
Actual
Current Ye677' Current Year
Date Actual Budget % Received
IL $122,803 � $922, 394 � 13.31%
Zoo?
20o8
2009
2010 YTD
$2,137,755
$1,332,349
$1,285,619
$1221803
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
_ W--
Current Year to Date
Actual
Current Year Budget
$208,258
Current Year to
Date Actual
$407,508
Zoo?
20o8
2009
2010 YTD
Current YE
Budget
$792,794
% Received
51.40%
$72$,493
$630,151
$817,735
$407,5o8
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Current Year to Date
Actual
Current Year Budget
GENERAL FUND
EXPENDITURES
Budget
Actual
❖Capital Outlay expenditures are currently 8.84% spent through the end of the 1st quarter.
Expenditures will depend on the timing of City projects.
❖Debt Service payments are based on scheduled payments. Amounts will be in line with
budget at the end of the year. To date, actual debt service expenditures totaled
approximately 40% of the budgeted amount.
Current Year vs. Prior Year
❖General Government — Decrease is a result of budget cuts in personnel, offset by increases in solid
waste disposal and insurance costs.
❖Public Safety - Increase in personnel related expenditures. Salaries increased per approved union
contracts of 6% for police and 3% for fire. Retirement contributions increased based on the latest
actuarial reports with police contribution rates increasing by 2.5% to 38.28% of covered wages and fire
contributions increasing by 2.55% to 33.73% of covered wages.
❖Culture and Recreation /Physical Environment — Departmental changes resulted in the grounds
department changing classifications to culture and recreation from physical environment in the prior
year. Total combined decrease is due to budget cuts in personnel.
Physical environment:
Administrative services
Prior
Current
Increase/
%
313,266
Year
Year
(Decrease)
Change
Culture and recreation:
- 13.82%
Stormwater maintenance
209,364
352,312 142,947
Administrative services
112,504
87,335
(25,169)
- 22.37%
Athletics
49,381
29,321
(20,059)
- 40.62%
Seniors and wellness
7,928
8,445
517
6.52%
Aquatics
82,577
77,395
(5,182)
- 6.28%
Tennis
31,108
38,052
6,943
22.32%
Programs division
79,364
46,200
(33,164)
- 41.79%
Special and cultural
(48,253)
- 100.00%
Parks and grounds
410,106
658,686
248,580
60.61%
Total culture and recreation
821,221
945,434
124,213
15.13%
Physical environment:
Administrative services
204,461
173,561 (30,900)
- 15.11%
Grounds and facilities
313,266
- (313,266)
- 100.00%
Facilities maintenance
lion
111rz rzrli (53,829)
- 13.82%
Stormwater maintenance
209,364
352,312 142,947
68.28%
Street maintenance
185,597
- (185,597)
- 100.00%
Total physical environment
1,302,078
861,434 (440,644)
- 33.84%
Questions?