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LTC 274-2016 Second Quarter Budget Analysis Actual Revenues and Expenses MIAMI BEACH OFFICE OF THE CITY MANAGER NO. LTC# 274-2016 LETTER TO COMMISSION TO: Mayor Philip Levine and Members of he City Corn ,ssion At FROM: Jimmy L. Morales, City Manager DATE: June 29, 2016 SUBJECT: SECOND QUARTER ANALYSIS ,iF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE SIX MONTH ENDING MARCH 31, 2016, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2016 The purpose of this LTC is to provide the Mayor and Commission with the status of the FY 2015/16 budget to actual revenue and expenses reflected at the end of the second quarter with projections through September 30, 2016. The City's Charter requires that "the City Manager shall make public a quarterly report showing the actual expenditures during the quarter just ended against one quarter of the proposed annual expenditures set forth in the budget." At this stage of projecting the fiscal year end, there are issues still to be determined. The first six months of any fiscal year do not provide a definitive indication of where we will be at the end of the year. However, with six full months of data we have more clarity of what the issues could be. Certain assumptions on both revenue and expenditures were made that are still developing and will be adjusted in later projections. Those assumptions, as well as our continued effort at managing the City's expenditures, will affect our projections going forward. The First FY 2015/16 budget amendment adopted by the City Commission on December 9, 2015, recognized an additional $5.5 million in revenue from the projected surplus from closing out FY 2014/15. This revenue funded the appropriation of $680,000 in encumbrances, $1.8 million in set asides for projects budgeted in FY 2014/15 that will instead be spent in FY 2015/16, $2.0 million to the Capital Improvements Reserve Account, and an additional $993,000 of additional Contingency funds. The Second Budget Amendment approved on January 13, 2016 realigned $3.3 million of funding for an Environmental Review of the Miami Beach portion of Light Rail/Modern Street Car capital project and realigned $35,000 of funding for an additional boat for Marine Patrol in the Police department from Confiscated Trust funds, added an appropriation of $142,000 for additional resources to support the Energov project implementation in the IT department to be paid from the IT Fund, $196,000 of funding for year one of principal and interest payments for the Sunset Islands 3 and 4 Undergrounding Project that will be eventually reimbursed to the General Fund, and $150,000 for Body-Worn Cameras in the Police department from Federal Confiscated Trust funds. The Third Budget Amendment approved on March 9, 2016 added one-time funds of $200,000 for a Mobility Fee Study and $120,000 of funding to refurbish a new Marine Patrol boat in the Police Department to be paid from State Confiscated Trust funds. The Fourth Budget Amendment approved on May 11, 2016 added one-time funds of $190,000 for the 2066 Miami Beach Rising Above and Time Capsule project from the General Fund. Accordingly, the projections presented below are compared to the amended budget including the four budget amendments to date. LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 2 of 9 GENERAL FUND Based upon this second quarter analysis, it is projected that General Fund revenues will exceed expenditures by $896,000, which is $577,000 higher than the $319,000 surplus projected in the first quarter analysis. General Fund Overview An analysis of the actual six-month operating revenues and expenditures for the period October 1, 2015 through March 31, 2016, reveals an operating budget surplus of $61.3 million. While the surplus as of March 31st seems unusual as compared to the projection for the fiscal year ending on September 30th, it should be noted that the City receives a greater percentage of ad valorem taxes during the first and second quarter (historically 85-90 percent). Ad valorem tax revenues represent approximately 45 percent of total budgeted revenues and represent 60 percent of the revenues received through the second quarter of the fiscal year. FY2015/16 Budget• Variance from 1/2 Actuals as of Amended Budget General Fund Adopted Budget Amended Budget 1/2 of Amended Budget 3/31/2016 Over/(Under) Revenues $ 300,354,000 $ 306,411,000 $ 153,205,500 $ 200,669,344 $ 47,463,844 Expenditures $ 300,354,000 $ 306,411,000 $ 153,205,500 $ 139,327,419 $ (13,878,081) Surplus/(Deficit) $ 61,341,925 As of March 31, 2016, revenues collected were approximately 65.5 percent of budget or $200.7 million. Expenditures are approximately 45.5 percent of budget or $139.3 million; however, there are often delays in expenditures until the close-out of the fiscal year. General Fund Year-End Projections The projected year-end operating revenues and expenditures through September 30, 2016 provide a more realistic snapshot of anticipated year-end shortfalls or surpluses at this point in time. Further, while the actual revenues and expenditures presented are as of March 31, 2016, some of the projections have incorporated more recent information, if available. A summary of preliminary projected General Fund Revenues and Expenditures as of September 30, 2016, reflects a surplus of revenues over expenses totaling $896,000, which is $577,000 higher than the $319,000 surplus projected in the first quarter analysis. It should be noted that this analysis is a preliminary projection based on the experience in the first and second quarter, which will continue to be updated over the next few months. FY 20150.6 Budget Variance Projected v Amended General Fund Adopted Budet Amended Budget Projected Budget %Over/(Under) Revenues $ 300,354,000 $ 306,411,000 $ 309,861,000 $ 3,450,000 1.1% Expenditures $ 300,354,000 $ 306,411,000 $ 308,965,000 $ 2,554,000 0.8% Surplus/(Deficit) $ 896,000 General Fund Operating Revenues For a detail of General Fund Revenues by category, see attached Schedule A. At this time, we are projecting property tax collections for FY 2015/16 at 95 percent of total property taxes assessed and consistent with the original adopted budget, thereby allowing adjustments for discounts, as well as a level of adjustments due to appeals similar to long-term historical levels. It is important to note that in the last few years, property tax collections have LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 3 of 9 been below prior year levels due to higher levels of appeals and adjustments. The impact of appeals and adjustments for the FY2015/16 budget will be provided by the Miami-Dade County Property Appraiser in July. Overall revenues are projected to be 1.1 percent or $3,450,000 above the amended budget. As in prior years, significant variances to budget in excess of $300,000 or 10 percent by revenue category are explained below: Licenses and Permits — This category includes business tax receipts, licenses/ building/special use permits, and sidewalk café fee revenues and is projected to be in excess of budget by 6.3 percent or $1,874,000 primarily due to increases in Building Development process revenues of $1.3 million. In addition, special event permit fees reflect increases of$128,000. Charges for Services — This category includes ambulance fees, off duty charges for fire and police, Golf Course fees, and various parks and recreation fees. Actual collections for Charges for Services are projected to be higher than budget by 12.2 percent or $701,000, primarily due to higher than projected Ambulance Fees of $147,000 and Off-Duty Fire Watch fees of$459,000. Interest — This category includes interest earnings on investments in the General Fund. Collections are projected to be 17.6 percent or $541,000 above budget due to higher interest rates. Rents and Leases — This category includes revenue from various rentals and leases realized from city properties. Collections are projected to be 9.8 percent or $623,000 higher than budget due primarily to increases in rental revenue for Jackie Gleason Theater from Live Nation of $95,000, additional rental revenue in the 777 Building of $88,000, additional revenue from rental of miscellaneous properties of $119,000, and additional revenue from bus shelters advertisements of$111,000. General Fund Operating Expenditures As of March 31, 2016, actual expenditures were approximately 45.5 percent of budget or $139.3 million. Year-end projections through September 30, 2016, indicate that expenditures will be $308.9 million, approximately 0.8 percent or $2.5 million over the amended budget. The expenditure projections are based through the second quarter and will be continually monitored and updated. A comparison of actual and projected expenditures to budget by Department is provided in the attached Schedule A. As in prior years, Departments projected to exceed budget or with significant variances to budget in excess of$300,000 or 10 percent are explained below: Police — The department is projected to be $2.6 million above the amended budget primarily due to personnel services costs being under budgeted for FY 2015/16. During the budget development process, a salary projection model in the Eden financial system was utilized to project personnel services costs, which include salaries and benefits. The Office of Budget and Performance Improvement is working with Eden to understand the issue and ensure that the FY 2016/17 budget development process reflects all applicable personnel services costs. Between now and the end of the fiscal year, these costs will be monitored closely and the department will try to manage other expenditures to help offset these overages. LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 4 of 9 Police Variance Projected v Amended Amended Budget Projected Budget % Over/(Under) Expenditures $ 99,989,000 $ 102,614,000 j $ 2,625,000 2.6% Fire — The department is projected to be $3.3 million above the amended budget primarily due to personnel services costs being under budgeted for FY 2015/16. During the budget development process, a salary projection model in the Eden financial system was utilized to project personnel services costs, which include salaries and benefits. The Office of Budget and Performance Improvement is working with Eden to understand the issue and ensure that the FY 2016/17 budget development process reflects all applicable personnel services costs. Between now and the end of the fiscal year, these costs will be monitored closely and the department will try to manage other expenditures to help offset these overages. Variance Projected v Amended Amended Budget Projected Budget % Over/(Under) Expenditures $ 62,844,000 $ 66,132,000 $ 3,288,000 5.2% Emergency Management — The department is projected to be $458,000 above the amended budget primarily due to increases in professional services resulting from E-911 staff augmentation in the Department's Public Safety Communications Unit (PSCU), as well as overtime for training of call takers and dispatchers driven by filling positions that have been vacant for an extended period of time. Emergency plaManagement•, Variance Projected v Amended Amended Budget Projected Budget % Over/(Under) Expenditures $ 9,218,000 $ 9,676,000 $ 458,000 5.0% Citywide Account — The department is projected to be $2.7 million below the amended budget primarily due to projected savings in annual leave costs, tuition reimbursement, special projects and other government expenses and contingency. Citywide Variance Projected v Amended Amended Budget Projected Budget % Over/(Under) Expenditures $ 14,158,000 $ 11,406,000 $ (2,752,000) -19.4% ENTERPRISE FUNDS The City accounts for proprietary operations in Enterprise Funds. Convention Center, Parking, • Sanitation, Sewer, Stormwater, and Water are included in this grouping. The expenditures for these funds are budgeted to be fully offset by charges for services. An analysis of the actual six-month operating expenditures for the period October 1, 2015 through March 31, 2016, reveals that all enterprise funds except the Convention Center have expenditures less than one-half of their budget. However, this may not be fully representative of expenditure trends, as there is often a lag in expenditures, particularly related to those billed by LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 5 of 9 outside entities. The Convention Center has expenditures in the second quarter in excess of one-half of its budget due to additional payroll and payroll taxes expenses for more meeting events held than budgeted. ENTERPRISE FUNDS Convention Sanitation Sewer Stormwater Water Parking Center FY 2015/16 Adopted Budget 21,104,000 46,996,000 20,985,000 34,787,000 77,584,000 10,737,000 Budget Amendment 12/9/15 73,000 1,073,000 2,472,000 230,000 1,868,000 - FY 2015/16 Amended Budget 21,177,000 48,069,000 23,457,000 35,017,000 79,452,000 10,737,000 1/2 of Adopted Budget 10,552,000 23,498,000 10,492,500 17,393,500 38,792,000 5,368,500 1/2 of Amended Budget 10,588,500 24,034,500 11,728,500 17,508,500 39,726,000 5,368,500 Expenditures as of Second Quarter 8,550,241 23,775,944 9,014,985 3,294,744 24,583,698 5,411,945 Expenditures Above/(Below)1/2 of Amended Budget (2,038,259) (258,556) (2,713,515) (14,213,756) (15,142,302) 43,445 %Variance -9.6% -0.5% -11.6% -40.6% -19.1% 0.4% The projected year-end operating revenues and expenditures through September 30, 2016, is, however, a more realistic snapshot of anticipated surplus or shortfall at this point in time. In addition, while the actual revenues and expenditures presented are as of March 31, 2016, the projections have incorporated more recent information, as available. As represented below, revenues are projected to be equivalent or in excess of expenditures for the Sanitation, Stormwater, Water, Parking and Convention Center funds. The Sewer fund's revenue projection is lower than expenditures by $3,377,000 primarily due to sewage treatment expenses being $2,497,000 higher than budgeted which is not anticipated to be offset by additional revenues. The Water Fund is projected to have a surplus of $939,000 due to an increase in the trend for water consumption. ENTERPRISE'FUNDS. Convention Sanitation Sewer Stormwater Water Parking Center FY 2015/16 PROJECTED REVENUES Charges for Services 14,853,000 44,907,000 20,266,000 33,157,000 49,611,000 5,477,000 Other 6,033,000 2,185,000 2,921,000 161,000 15,053,000 9,297,000 FY 2015/16 Revenue Projection 20,886,000 47,092,000 23,187,000 33,318,000 64,664,000 14,774,000 FY 2015/16 Expenditure Projection 20,886,000 50,469 000 23,187,000 32,379,000 64,664,000 14 774,000 Surplus/(Shortfall) 0 (3,377,000) 0 939,000 0 0, INTERNAL SERVICE FUNDS The City accounts for those goods and services provided by one Department to other Departments citywide on a cost reimbursement basis. Central Services, Fleet Management, Information Technology, Property Management, and Risk Management (Self Insurance) are included in this grouping. An analysis of the actual six-month operating expenditures for the period October 1, 2015 through March 31, 2016 reveals that all funds have expenditures less than one-half of the FY 2015/16 Amended Budget except for Central Services. LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 6 of 9 INFERNAL;SERVICE FUNDS Central Fleet Information Property Risk Medical&Dental Services Management Technology Management _ Management Insurance FY 2015/16 Adopted Budget 967,000 10,447,000 15,758,000 8,621,000 15,616,000 28,961,000 Budget Amendment 12/9/15 23,000 377,000 186,000 83,000 Budget Amendment 1/13/16 - - 142,000 - - - Amended Budget 967,000 10,470,000 16,277,000 8,807,000 15,699,000 28,961,000 1/2 of Adopted Budget 483,500 5,223,500 7,879,000 4,310,500 7,808,000 14,480,500 1/2 of Amended Budget 483,500 5,235,000 8,138,500 4,403,500 7,849,500 14,480,500 Expenditures as of Second Quarter 484,847 1,778,869 7,056,068 3,917,553 5,333,877 10,649,148 Expenditures Above/(Below)1/2 of Amended Budget 1,347 (3,456,131) (1,082,432) (485,947) (2,515,623) (3,831,353) %Variance 0.1% -33.0% -6.7% -5.5% -16.0% -13.2% Fleet Management, Information Technology, Property Management, Risk Management, and Medical & Dental are all more than $300,000 lower than one-half of the amended budget for the following reasons: • Fleet Management - debt service costs that will be incurred later in the fiscal year. • Information Technology - due to capital expenditures and debt service costs that will be incurred later in the fiscal year • Property Management -due to contract maintenance and repair costs that will be incurred later in the fiscal year • Risk Management - due to property insurance premium costs that will be incurred later in the fiscal year • Medical & Dental - due to a time lag in paid claim expenditures Based on the more realistic projection of year-end operating revenues and expenditures through September 30, 2016, and incorporating more recent information as available, Central Services, Fleet Management, Information Technology, Risk Management and the Medical and Dental Insurance funds are expected to have revenues equal to or in excess of expenditures. The Property Management fund is projected to have a shortfall of $1,325,000 due to increased contract maintenance and contracted services expenditures. The Medical & Dental Fund is projected to have a surplus of $471,000 due to medical claims trending lower than budget; this trend will continue to be monitored as claims can vary significantly throughout the year. INTERNAL SERVICE FUNDS Central Fleet Information Property Risk Medical&Dental Sery ices Management Technology Management Management Insurance FY 2015/16 PROJECTED REVENUES Charges for Services 1,170,000 9,982,000 14,666,000 8,120,000 14,734,000 28,889,000 Other 488,000 1,501,000 18,000 881,000 FY 2015/16 Revenue Projection 1,170,000 10,470,000 16,167,000 8,138,000 15,615,000 28,889,000 FY 2015/16 Expenditure Projection 1,170,000 10,470,000 16,167,000 9,463,000 15,615,000 28,418,000 Surplusl(Shortfall) 0 0 0 (1,325,000) 0 471,000 SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for revenues and expenditures that are legally restricted or committed for specific purposes other than debt or capital projects. Special Revenue Funds include the Resort Tax Fund as well as 7th Street Garage Operations; 5th & Alton Garage Operations; Art in Public Places; Tourism and Hospitality Scholarship Program; Green/Sustainability Fund; Waste Hauler Additional Services and Public Benefit Contribution Fund; Education Compact Fund; Red Light Camera Fund; Emergency 911 Fund; Information and Communications Technology Fund; People's Transportation Plan Fund; Concurrency Mitigation Fund; Miami Beach Cultural Arts Council; Police Special Revenue Account; Police Confiscation Trust Funds (Federal and State); and Police Training and School Resources Fund. LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 7 of 9 All special revenue funds are projected to be at or under the amended budget, except for the Resort Tax Fund which will have additional revenue to offset expenditures higher than amended budget. More detailed information is provided for the Resort Tax fund below. Resort Tax Fund The City's Resort Tax Fund is primarily supported by Resort Taxes collected pursuant to Chapter 67-930 (Section 6) of the Laws of Florida, as amended, and Section 5.03 of the City of Miami Beach Charter, as amended. This legislation authorizes the use of Resort Taxes for the promotion of the tourist industry, which includes, but is not restricted to the following: Publicity, advertising, news bureau, promotional events, convention bureau activities, capital improvements and the maintenance of all physical assets in connection therewith; and for the payment of the reasonable and necessary expenses of collecting, handling and processing of said tax. Typically, the City has considered the following services as "Services Related to the Promotion of Tourism": • Police Officers serving entertainment areas • A portion of Fire Rescue services from Fire Stations 1 & 2 • Ocean Rescue services • Sidewalk pressure cleaning in South, Middle and North Beach visitor areas • South Beach sanitation • Enhanced Code Compliance/Enforcement provided to respond to evening entertainment area violations and staffing of special events • Other Code Compliance/Enforcement activities in tourism and visitor related facilities/areas • Tourism and Cultural Development Department and the Cultural Arts Council • Museums and Theatres (Garden Center, Bass Museum, Colony and Byron Carlyle Theatres) • Golf courses (net of revenues) • Memorial Day and other special event costs • Homeless services • July 4th, Visitor Center funding, Holiday Lights, Festival of the Arts, Jewish Museum, MDPL, Orange Bowl, Monuments, etc. These allowable uses have led to increased tourism related activities, such as special events, Art Basel, and various concerts. The 2% Resort Tax Fund operating revenues are projected to be in excess of budget by approximately 2.4 percent or $1.4 million and, as a result, payments to the Visitor's Convention Authority (VCA) which are based on a percent of revenues, are projected to exceed budget. The proceeds of the first 1°/0 Resort Tax Fund operating revenues are used as follows: 45% is allocated for Transportation initiatives in tourist-related areas; 15% is allocated equally among North Beach, Middle Beach and South Beach for capital projects that enhance Miami Beach's tourist related areas, and 10% is allocated to various arts and cultural programs. The 1 percent Resort Tax Fund operating revenues are projected to be higher than budget by approximately 5.5 percent or$699,000. LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 8 of 9 The proceeds of the additional 1% Resort Tax Fund operating revenues are used for the Convention Center renovation debt service payments. The revenues and expenditures relating to this project are projected to remain on target through September 30, 2016. RESORT TAX:FUND • Over/(Under) Amended FY 2015/16 Amended %Over/(Under) FY 2015/16 FY 2015/16 Actuals as of Projection as of Budget as of Amended Adopted Budget 1st Amendment Budget Mar.31,2016 2nd Quarter Year-End Budget Revenues 2%Resort Tax 56,231,000 1,303,000 57,534,000 35,043,380 $58,927,000 1,393,000 2.4% 1%Resort Tax 12,800,000 12,800,000 8,375,145 13,499,000 699,000 5.5% Additional 1%for Convention Center 9,600,000 9,600,000 - 9,600,000 - Total Revenues 78,631,000 1,303,000 79,934,000 43,418,525 $82,026,000 2,092,000 2.6% Expenditures General Fund Contribution 36,609,000 1,000,000 37,609,000 18,304,500 37,609,000 - 0.0% Contributions to VCAand GMCVB 8,042,000 8,042,000 6,667,728 8,101,000 59,000 0.7% Contribution to Mt.Sinai 1,000,000 1,000,000 1,000,000 1,000,000 - 0.0% Other Operating/Other Uses 5,858,000 303,000 6,161,000 80,604 6,115,000 (46,000) -0.7% Marketing 350,000 350,000 33,155 350,000 - 0.0% Contingency 3,156,000 3,156,000 - - (3,156,000) -100.0% 2%Debt Service 1,216,000 1,216,000 1,216,000 1,216,000 - 0.0% Additional 1%Debt Service for Conve 9,600,000 9,600,000 - 9,600,000 - 0.0% Transfer to Capital,Transp,and Ms 12,800,000 12,800,000 8,375,145 13,499,000 699,000 5.5% Total Expenditures 78,631,000 1,303,000 79,934,000 35,677,133 77,490,000 (2,444,000) -3.1% Surplus/(Deficit) 0 0 0 7,741,392 4,536,000 In total, the projected revenues are estimated to be in excess of budget by 2.6 percent or $2.1 million and expenditures to be below budget by approximately 3.1 percent or $2.4 million. This results in a net operating surplus of approximately $4.5 million for Resort Tax revenues and expenditures, combined. CONCLUSION This analysis of budget to actual operating revenues and expenses with projections through September 30, 2016, provides the status of the FY 2015/16 Budget for the first six months of the fiscal year. Although the first six months of any fiscal year do not provide a definitive indication of where we will be at year-end we have more clarity of what the issues could be. Based on preliminary projections, the General Fund is anticipated to have an $896,000 surplus at year-end, which is $577,000 higher than the $319,000 surplus projected in the first quarter analysis. At this time, all other funds are projected to break even or have surpluses with the exception of the Internal Service Property Management Fund which is projected to close the fiscal year with a deficit of $1.3 million. We will continue to monitor the revenue collections and expenditures on an ongoing basis. JLM/CGR LTC - Analysis Of Budget To Actual Revenues And Expenses For The Six Months Ending March 31, 2016, With Operating Budget Projections Through September 30, 2016 Page 9 of 9 SCHEDULE A % FY 2015/16 Amended Actuals as of %Actual of FY.2015/16. Over/(Under) Over/(Under) Adopted FY 2015/16 March 31, Amended 2nd,Quarter Amended Amended . Budget Budget 2016 Budget Pro'eetions(rd; Budget Budget REVENUES Ad Valorem Taxes 140,446,0001 140,446,000 118,142,350, 84.1% 140,446,000 - 0.0% Ad Valorem Taxes-S Pte Costs - - - 0.0% - - 0.0% Ad Valorem Cap Renewal&Replacement 2,716,000 2,716,000 2,716,000 100.0% 2,716,000 - 0.0% Ad Valorem Taxes-Normandy Shores 147,000 147,000 147,000 100.0% 147,000 - 0.0% Other Taxes 23,940,000 23,940,000 10,022,848 41.9% 24,198,000 258,000 1.1% Licenses and Permits 29,558,000 29,558,000 18,775,881 63.5% 31,432,000 1,874,0(X) 6.3% Intergovernmental 11,037,000 11,037,000 4,776,315 43.3% 11,011,000 , (26,000) -0.2% Charges for Services 5,746,000 5,746,000 3,510,944 61.1% 6,447,000 701,000 12.2% Golf Courses 6,300,000 6,300,000 3,168,983 50.3% 5,795,000 (505,000) -8.0% Fines and Forfeitures 2,157,000 2,1.57,000 793,656 36.8% 1,893,000 (264,000) -12.2% Interest 3,074,000 3,074,000 2,497,209 81.2% 3,615,000 541,000 17.6% Rents and Leases 6,384,000 6,384,08) 3,860,339 60.5% 7,007,000 623,000 9.8% Miscellaneous 12,588,000 12,588,000 4,302,315 34.2% 12,836,000 248,000 2.0% Other-Resort Tax Contribution 36,609,000 36,609,000 18,304,500 50.0% 36,609,000 - 0.0% Other-Non-Operating Revenues 11,252,000 11,452,000 5,451,006 47.6% 11,452,000 - 0.0% Fund Balance/Retained Earnings 386,000 386,000 - 0.0% Prior Year-End Surplus Carryover 5,471,000 - 0.0% 5,471,000 - 0.0% Prior Year Surplus from Parking Fund 1 8,400,000_ 8,400,000 4,200,000 50.0% 8,400,000 - 0.0% TOTAL REVENUES I 300,354,000 306,411,000 200,669,344 65.5% 309,861,000' 3,450,000 1.1% EXPENDITURES Mayor and Commission 2,009,000 2,199,000 984,870 44.8% 2,241,000 42,000 1.9% City Manager 3,652,000 3,809,000 1,720,288 45.2% 4,050,000 241,000 6.3% Communications 1,745,000 1,748,000 884,291 50.6% 1,866,000 118,000 6.8% Environmental&Sustainability 261,000 844,000 247,185 29.3% 834,000 (10,000) -1.2% Office of Budget&Performance Improv 2,435,000 2,435,000 1,111,453 45.6% 2,426,000 (9,000) -0.4% Organizational Development&Perf Initiatives 603,000 603,000 252,744 41.9% 584,000 (19,000) -3.2% Finance 5,385,000 5,435,000 2,418,704 44.5% 5,424,000 (11,000) -0.2% Procurement 2,112,000 2,114,000 849,363 40.2% 1,987,000 (127,000) -6.0% Human Resources/Labor Relations 2,685,000 2,721,000 1,033,665 38.0% 2,593,000 (128,000) -4.7% City Clerk 1,455,000 1,455,000 38,000 2.6% 1,495,000 40,000 2.7% City Attorney 5,282,000 5,282,000 2,459,773 46.6% 5,224,000 (58,000) -1.1% Housing&Comm Services 2,674,000 2,674,000 1,128,009 42.2% 2,620,000 (54,000) -2.0% Building 13,804,000 13,799,000 6,101,128 44.2% 13,619,000 (180,000) -1.3% Planning 4,260,000 4,274,000 1,859,727 43.5% 4,087,000 (187,000) -4.4% Tourism,Cultural,&Economic Development 3,936,000 3,936,000 1,655,463 42.1% 3,918,000 (18,000) -0.5% Code Compliance 5,936,000 6,118,000 2,780,233 45.4% 6,030,000 (88,000) -1.4% Parks and Recreation 30,761,000 30,812,000 14,067,179 45.7% 30,636,000 (176,000) -0.6% Public Works 14,358,000 14,143,000 5,289,940 37.4% 13,882,000 (261,000) -1.8% Capital Improvement Projects 4,945,000 4,945,000 2,253,585 45.6% 4,765,000 (180,000) -3.6% Police 99,605,000 99,989,000 50,714,738 50.7% 102,614,000 2,625,000 2.6% Fire 62,741,000 62,844,000 32,054,392 51.0% 66,132,000 3,288,000 5.2% Emergency Management 8,957,000 9,218,000 4,588,448 49.8% 9,676,000 458,000 5.0% Citywide Accounts&Operating Contingency 12,093,000 14,158,000 4,754,946 33.6% 11,406,000 (2,752,000) -19.4% Citywide-Normandy Shores 226,000 226,000 - 0.0% 226,000 - 0.0% Citywide-Transfers-Capital Investment Upkeep Fund 315,000 315,000 79,297 25.2% 315,000 - 0.0% Citywide-Transfers-Info&Comm Technology Fund 395,000 395,000 - 0.0% 395,000 - 0.0% Citywide-Transfers-Pay-As-You Go Capital Fund 2,400,000 2,400,000 - 0.0% 2,400,000 - 0.0% Citywide-Transfer-Capital Reserve Fund 2,000,000 - 0.0% 2,000,000 - 0.0% Capital Renewal&Replacement 2,716,000 2,716,000 - 0.0% 2,716,000 - 0.0% Capital Projects Not Financed By Bonds - 196,000 0.0% 196,000 - 0.0% Reserve-Public Safety Radio System 500,000 500,000 - 0.0% 500,000 - Reserve-Future Building Dept Needs 2,108,000 2,108,000 - 0.0% 2,108,000 - 0.0% TOTAL EXPENDITURES 300,354,000 306,411,000 139,327,419 45.5% 308,965,000 2,554,000 0.8% EXCESS OF REVENUES OVER/(UNDER)EXPENDITURES - - 61,341,925 896,000 896,000