LTC 085-2012 Analysis of Budget to Actual Revenues m MIAMI BEACH :,
OFFICE OF THE CITY MANAGER ,
No. LTC #1 085-2012
2 i LETTER J OMISSION
I j C` T", C L ERE K IS 0Fr ICS.
TO: Mayor Matti Herrera Bower and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manager
DATE: March 27, 2012
SUBJECT: ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE
THREE MONTHS ENDED DECEMBER 31, 2011, WITH OPERATING BUDGET
PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR CITY DEPARTMENTS
The purpose of this LTC is to provide the Mayor and Commission with the status.of the FY
2011/12 budget to actual revenue and expenses at the end of the first quarter with projections
through September 30, 2012.
At this stage of projecting the fiscal year end, there are many issues still to be determined.
The first 3 months of any fiscal year are not necessarily the most reliable indication of the
remainder of the year, but do give us a first glance of potential issues. 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
resources and continued adjustments to revenues and expenditures line items throughout the
year will affect our projections going forward.
GENERALFUND
Based on the review, it is projected that, overall, General Fund revenues will be approximately
$1.1 million in excess of General Fund expenditures if the City does not fully expend its
operating contingency. While we rarely fully expend the operating contingency by the end of
the fiscal year, at this stage of budget projections, we take a more conservative approach and
assume that the contingency will be fully expended. If the remaining operating contingency is
: fully spent, General Fund is anticipated to be essentially on budget with a slight surplus of $0.2
million (less than 0.1%) in the General Fund. It is important to note that this is despite a
projected revenue shortfall of $1 million (approximately 0.4 %), once again reflecting the pro -
active initiatives taken by the City to reduce expenses below the adopted budget.
General Fund Overview
An analysis of the actual three month operating revenues and expenditures for the period
October 1, 2011 through December 31, 2011, reveals an operating budget surplus of
$28,048,423. While the surplus as of December 31 seems unusual as compared to the
projection for the year ending on September 30 th , it should be noted that the City receives a
greater percentage, historically approximately 60% of its ad valorem taxes in the first quarter.
Ad valorem tax revenues representing approximately 45% of total budgeted revenues (as
amended) have been almost 47% of the amended budget received as of the first quarter of the
fiscal year. While this is significantly below the level typically received as of first quarter in
prior years, this appears to be a timing issues; as the difference was made up in ,January
2012.
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 2
The remaining 55% of revenues are at approximately 23% of the amended budget as of
December 31 st a level similar to prior fiscal years.
Expenditures are at approximately 23% of the FY 2010/12 amended budget, however, there
are often delays in expenditures in the first quarter of the year.
FY 2011/12 Budget
Adopted Budget as
Original Adopted amended through Actual as of Variance Over/
General Fund Budget 2012 February 8, 2012* 1/4 of Budget 12/31/11 (Under)
Revenues $ 244,336,740 $ 245,651,521 $ 61,412,880 $ 83,679,164 $ 22,266,284
Expenditures 244,336,740 245,651,521 61,412,880 55,630,741 (5,782,139)
Surplus /(Deficit) $ - $ - $ - $ 28,048,423 $ 28,048,423
The projected year -end operating revenues and expenditures through September 30, 2012,
therefore, provide a more realistic snapshot of anticipated year -end shortfall or surplus at this
point in time. Further, while the actual revenues and expenditures presented are as of
December 31, 2011, the projections have incorporated more recent information, as available.
A summary of preliminary projected General Fund Revenues and Expenditures as of
September 30, 2012 is as follows:
FY 2011/12 Budget
Adopted Budget as
Original Adopted amended through Budget/
General Fund Budget 2012 February 8, 2012* Projected Projected
Revenues $ 244,336,740 $ 245,651,521 $ 244,662,180 $ (989,341)
Expenditures* 244,336,740 245,651,521 243,581,879 (2,069,642)
Surplus /(Deficit) $ - $ - $ 1,080,301 $ 1,080,301
Operating Contingency $ 929,000
Net surplus (Deficit) $ 151,301
* Prior to Expenditure of Operating Contingency
While property tax revenues were significantly reduced in FY 2008/09, FY 2009/10 and FY
2010/11 (2.3 %, 1.6% and 1.5% below budget at year -end, respectively), at this time we are
continuing to project collections for FY 2011/12 at the 95 percent level as budgeted, thereby
allowing adjustments for discounts as well as a level of adjustments due to appeals more
similar to historical levels.
The projections also assume decreased local option gas taxes (Intergovernmental) based on
trends; Fire Rescue transport revenues that are trending below budget and golf course
revenues below budget although offset by decreased expenditures (Charges for Services);
small decreases in Parking Fines (Fines and Forfeits); continued decreases in Interest
Earnings; and decreases in Rents and Leases. These are partially offset by Building
Development Process Fees (Licenses and Permits).
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 3
In addition, beginning in FY 2010/11, the State Division of Retirement began monitoring
employer contribution payments based on percent of payroll, and is now requiring that City's
adjust their annual required contributions (ARC) at year -end based on this calculation. In the
Fire and Police Pension Plan, this. resulted in a credit at year -end of $1.7 million that was
applied to the payment of the FY 2011/12 ARC. The MBERP pension plan has a similar credit
of $0.8 million applied to the FY 2011/12 ARC payment. At this time the credit is reflected in
the City account into which payments are made by departments and from which the City's
payment to each of the pension plans is made, thereby reflecting a surplus in this account.
We will be monitoring employer contribution requirements throughout this year based on
percent of payroll, which may or may not offset the FY 2011/12 credit. Should a credit
continue to accrue through year end, there may be the potential to use the amounts
accumulated in the City's account to fund a Pension Stabilization Fund in the City that could
be used to reduce department pension costs in future years.
Finally, as in the last few years since the economic decline, the expenditure projection
continues to reflect the impact of pro- active initiatives by the City to reduce expenses below
the adopted budget. These initiatives include close scrutiny of major purchases, and
continuous evaluation of opportunities to reduce costs in all departments.
For a detail of General Fund Revenues by category and Expenditures by Department, see
attached schedule.
General Fund Operating Revenues
As of December 31, 2011, revenues collected were approximately 34% of budget or
$83,679,164. Historically, the City receives approximately 60% of its ad valorem taxes in the
first quarter, which must be considered when analyzing actual revenues and formulating year-
end revenue projections. Year -end projections through September 30, 2012 which total
$244,662,180 indicate that revenues will be below budget by approximately $1 million or
approximately 0.4 %. Significant variances to budget in excess of $300,000 or 10 percent by
revenue category are explained below:
1. Licenses and Permits— This category includes business tax receipts, licenses and
building and special use permits, and sidewalk cafe fee revenues and is projected to be
in excess of budget by $445,000 (3% of budget) primarily due to increases in building
development process permit, reflecting continuing improvement in the economy.
2. Charges for Service — Excluding Golf Courses - This category includes Fire Rescue
transport fees, Off Duty administration fees, Parks and Recreations fees and advertising
revenues and other miscellaneous charges for service such as photocopies, passports,
etc.. Projections indicate that year -end collections will be below budget by approximately
$0.5 million (11 %). This is primarily due to collections in the first three months of the year
as compared to the same time last year. However, this is a short period of time, and we
will continue to monitor and will revise projections, if appropriate, for the second quarter
projection.
3. Interest - Projections indicate that year -end collections will be below budget by 10% or
$360,000 as interest earnings continue to decline.
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 4
General Fund Operating Expenditures
As of December 31, 2011, actual expenditures were approximately 23% of budget or
$55,630,741. Year -end projections through September 30, 2012 indicate that expenditures will
be $243.6 million, approximately $150,000, or 0.1% under - budget, assuming remaining
operating contingency is fully expended.
At this time, no department is anticipated to be over or under budget by more than $300,000 or
more than 10 percent. A comparison of actual and projected expenditures to budget by
department is provided in the attached schedule.
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 three month operating expenditures for the period October 1, 2011
through December 31, 2011, reveals that all funds except sewer and water have expenditures
less than one - quarter of their budget. However, this is not representative as there is often a
lag in expenditures, particularly related to those billed by outside entities. Sewer and Water
have expenditures in the first quarter in excess of one - quarter of their budget, primarily as debt
was incurred at 65% and 42% of budget in these funds in the first quarter, respectively.
Convention
ENTERP FUNDS Sanitation Sewer Stormwater W ater Parking Center
Adopted Budget 15,929,943 34,458,433 14,586,215 33,519,573 _ 44,720,629 _ 13,478,680
Adopted Budge Amended 1 -11 -12 15,936,393 34,478,643 14,588,982 33,549,062 44,739,057 13,478,680
1/4 of Budget _ 3,984,098 8,619,661 3,64 8, 387,266 11,184,764 3,369,670
Expenditures as of 12131/11 3,206,763 10,578,007 2,669,186 _ 8,466,802 7,785,807 2,722,386
Expenditures Above 1/4 of
Budget/(Expenditures Below 1/2 of
Budget) 1 $ ( 777,335) $ 1,958,346 1 $ ( 978,060)1 $ 79,537 1 $ ( 3,398,957) $ (647,284)
The projected year -end operating revenues and expenditures through September 30, 2012, 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 December 31, 2011,
the projections have incorporated more recent information, as available.
As shown below, in all funds except the Convention Center revenues are projected to be equal
to or in excess of expenditures, despite all absorbing anticipated increases in the funding of
the actuarial liability for post retirement health insurance for current employees. Further, all
Enterprise Funds expenditures, except for Convention Center are anticipated to be under
budget. While Convention expenditures are expected to be close to budget, a shortfall of
approximately $0.65 million is projected as year -end due to revenues to date not realized as
budgeted. We are evaluating further methods to reduce expenditures and will continue to
monitor revenues.
The Stormwater Fund is the only fund more than 10 percent below budget, due to the timing
and structuring of the sale of the stormwater bonds, and refinancing of existing bonds,
resulting in lower debt service in the first year than previously anticipated. In addition, despite
expenditures being close to budget, Parking is anticipated to have to have a surplus of $2.6
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 5
million. Together with the $5.25 million budgeted as reserves, this should provide sufficient
year -end available cash balance for the annual transfer of $7.2 million to the General Fund in
FY 2012/13.
Convention
ENTERPRISE FUNDS Sanitation Sewer Stormwater Water Parking Center
Adop Bud $ 15,936,393 $ 34,478,643 $ 14,588,982 $ 33,549,062 $ 44,739,057 $ 13,478,680
Projected Revenues
Charges for Service $ 10,252,861 $ 31,5 $� 11,613,051 $ 30,705,272 34,348,903 1 8,232,
Other $ 5,648,638 $ 3,086,552 3,119,715 $ 2,940,622 $ 12,3737596 a,632,162
Projected Revenues ( $ 15,901,499 ( $ 34,591,394 I $ 14,732,766 I $ 33,645,894 I $ 46,722,499 $ 12,865,138
Projected Expenditures $ 15,455,538 $ 33,850,391 I $ 11,504,446 I $ 32,892,295 $ 44,120,412 i $ 13,517,412
Sur /(Shortfall) � $ 445,961 i $ 741,003 f � $ 3,228,320 I $ 753,599 t � $ 2,602,087 j $ (652,274)
Variance from Expenditure Budget 1 $ (480,855) $ (628,252)1 $ (3,084,536)1 $ (656,767)1 $ (618,645)1 $ 38,732
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 three month operating expenditures for the period October 1, 2011
through December 31, 2011, reveals that all funds have expenditures less than one - quarter of
their budget. However, as with Enterprise Funds, this is not representative as there is often a
lag in expenditures, particularly related to those billed by outside entities.
CENTRAL INFORMATION PROPERTY
INTERNAL SERV ICE FUNDS SERVICES FLEET MGT TECHNOLOGY MGT RISKMGT
Adopted Bud get $ 886,490 $ 8,179,436 $ 15,229,854 $ 8,234,369 $ 21,750,296
Adopted Bud get Amended 1 -11 -12 $ 886,850 $ 8,180,390 $ 15,535,011 $ 8,234,967 $ 21,750,296
1/4 of Budget 443,425 4,090,195 7,767,506 4,117,484 10,875,148
Expenditures as of 12/31/11 1 421,277 1 1,492,738 1 2,698,275 1 1,645,943 1 1,748,944
Expenditures Above 1/4 of
Budgett(Expenditures Below 1/4 of
Budget) 1 $ (22,148) $ (2,597,457) $ (5,069,231) $ (2,471,541) $ (9,126,204)
Based on the more realistic projection of year -end operating revenues and expenditures
through September 30, 2012, and incorporating more recent information, as available, all
Internal Service Funds are expected to have revenues equal to or in excess of expenditures,
except Risk Management. However in Central Services, Fleet Management and Property
Management, the revenues include chargebacks to departments above budget. In.Central
Services this is based on usage, in Fleet Management, this is primarily due to increasing gas
prices and petroleum - related products, and in Property Management, this is due to the impact
of increases in the funding of the actuarial liability for post retirement health insurance for
current employees. Given that this is based on one - quarter of information, these increased
chargebacks have not been reflected in the General Fund and Enterprise Departments.
i
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 6
However, if the trend continues, the increased chargebacks will impact those departments. In
addition, the shortfall in Risk will need to be addressed, resulting in further increased
chargebacks.
In addition, all Internal Service Funds are anticipated to be over budget, except Information
Technology, primarily due to increases in contributions for "Other Post Employment Benefits"
(OPEB) based on prior year actuarial requirements.
CENTRAL INFORMATION PROPERTY
INTERNAL SERVICE FUNDS SERVICES FLEET MGT TECHNOLOGY MGT RISK MGT
Adopted Budget Amended 1 -11 -1 2 $ 886,850 $ 8,180,390 $ 15,53 $ 8,234,967 $ 21,750
Interdepartmetnal charges 900,000 1 7,957,480 1 13, 1 8,049,207 1 2_0 ,742,000
Other Revenues 30,000 424,341 1,945,142 312,489 -� 1,029,000
Projected Revenues { $ 930,000 { $ 8,381,821 { $ 15,385,673E $ 8,361,696 { $ 21,771,000
Projected Expenditures { $ 888,808 { $ 8,381,821 { $ 15,385,673 { $ 8,361,696 { $ 21,854,780
I I I I I
Surplus /(Shortfall) { $ 41,192 { $ { $ - { $ 0 ( $ (83,780)
I { I I I
Variance from Expenditure Budget ( $ 1,958 $ 201,431 { $ (149,338)1 $ 126,729 ! $ 104,484
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 provided to respond to evening entertainment area.
violations and staffing of special events
• Other code compliance activities in tourism and visitor related facilities /areas
• Tourism and Culture 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
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 7
• Homeless services
• July 4 Visitor Center funding, Holiday Lights, Festival of the Arts, Jewish Museum,
MDPL, Orange Bowl, Monuments, etc.
These allowable uses have led to increased tourist 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 $4.7 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.
In addition to the uses listed above, the proceeds of the additional one percent (1 %) tax are
used as follows. Fifty percent of the amount earned is committed to the payment of a portion
of the debt service on the Miami Beach Redevelopment Agency City Center/ Bonds. The
remaining fifty percent is allocated equally among North Beach, Middle Beach, and South
Beach for capital projects that enhance Miami Beach's tourist related areas and various arts
and cultural programs. The 1 % Resort Tax Fund operating revenues are projected to be in
excess of budget by approximately $0.4 million and, as a result, the debt service and transfers
to North Beach, Middle Beach, and South Beach for capital projects and the transfers to the
arts and cultural programs are projected to exceed budget as shown below.
In total, the projection estimate revenues in excess of budget by $5.1 million and expenditures
in excess of budget by approximately $0.6 million for the reasons described above. This
results in a net operating surplus of approximately $4.5 million for the 1 % and 2% Resort Tax
revenues and expenditures, combined.
RESORT TAX FUND
Expenditures
Above 1/4 of
Budget/
(Expenditures
Budget Actual as of Below 1/4 of Projected
Revenues FY 2011/12 1/4 Of Budget 12/31/11 Budget) 9/30/12 Variance
2% Resort Tax $ 3 8,369, 3 62 $ 9,592,341 $ 6,533,45 $ (3,058,886) $ 43,060,000 $ 4,690,63
1% Re Tax _ 8,596,953 2,149,2 1,4 35,372 1 1 -
,4 35,372 _(713,866)1 8,980,000 383,047
Other Revenues 639,012 159,753 26,840 1 (132,913) 660,000 20,988
Total Reve { $ 47,605,327 1 $ 11,901,332 { $ 7,995,667 1 $ ( 3,905,665)( $ 52,700,000 1 $ 5,094,673
Ex pendi tu r es _ _ _
General Fund Contributi $ 26,965,440 $ 6,741,360 $ 6,616,360 $ ( 125,000 ) $ 26,965,440 $ _
Other Operating /Other Uses 3,655,100 913,775 345,607 (568,168) 3,647,0 (8,100)
Contributions to VCA and GMCVB 7,070,834 1,767,709 915,191 (852,518) 7,320,000 249,166
Marketing 100,000 25,000 2,500 (22,50 100,000
Contingency - - - _
2% Debt Service 1,217,000 304,250 - (3_04,250) 1, _
1% Debt Service 4,2 98,477 1,074,619 912,121 (162,498) 4,492,000 193,523
Transfer to Capital and the Arts (1 %) 4,298,476 1,674,619 346,026 (728,593) 4,492,000 193,524
Total Expe nditure 1$ 47,605,327 1$ 11,901,332 1$ 9,137,805 1 $ ( 2,763,527)1 $ 48,233,440 1$ 628,113
Surplus/(Deficit) { $ - 1 $ - 1 $ ( 1,142,138)1 $ (1,142,138)1 $ 4,466,560 1 $ 4,466,560
LTC ANALYSIS OF BUDGET TO ACTUAL REVENUES AND EXPENSES FOR THE THREE MONTHS ENDED
DECEMBER 31, 2011, WITH OPERATING BUDGET PROJECTIONS THROUGH SEPTEMBER 30, 2012 FOR THE
GENERAL FUND
Page 8
CONCLUSION
This analysis of budget to actual operating revenues and expenses with projections through
September 30, 2012, provides the status of the FY 2011/12 Adopted Budget as Amended as
of the first three months of the Fiscal Year. The Administration will continue to monitor
revenues and expenses to ensure that we close the fiscal year in a positive position with
overall revenues exceeding overall expenses.
JMG /KGB/TF
FY 2011/12 FY 2011/12 FY 2011/12 Actual as of % Proj. FY 2011/12 1Q Proj -Amnd
Amended Amended of
Budget 1 -11 -12 2 -08 -12 Dec. 31, 2012 budget As of Quarter 1 Over /(Under)
REVENUES
Ad Valorem Taxes 98,198,923 98,198,923 98,198,923 46,420,609 47% 98,198,923 $ -
Ad Valorem Taxes -S Pte Costs 10,439,424 10,439,424 10,439,424 4,934,926 47% 10,439,424 0
Ad Valorem Cap.Renewal & Replace. 1,755,752 1,755,752 1,755,752 829,979 47% 1,755,752 0
Ad Valorem Taxes -Norm Shores 108,469 108,469 108,469 51,275 47% 108,469 0
Other Taxes 24,278,385 24,278,385 24,278,385 3,832,586 16% 24,243,550 (34,835)
Licenses and Permits 17,074,053 17,074,053 17,686,553 9,062,513 51% 18,132,000 445,447
Intergovernmental 10,091,000 10,091,000 10,091,000 1,738,748 17% 9,958,000 (133,000)
Charges for Services 4,879,252 4,879,252 4,879,252 1,004,049 21% 4,348,607 (530,645)
Golf Courses 5,805,119 5,805,119 5,805,119 1,305,763 22% 5,710,000 (95,119)
Fines and Forfeits 2,574,000 2,574,000 2,574,000 368,481 14% 2,452,900 (121,100)
Interest 3,430,000 3,430,000 3,430,000 (1,108,335) -32% 3,070,000 (360,000)
Rents and Leases 6,034,143 6,034,143 6,034,143 1,840,296 30% 5,837,591 (196,552)
Miscellaneous 12,423,449 12,423,449 12,423,449 2,850,319 23% 12,459,911 36,462
Other - Resort Tax contribution 26,965,440 26,965,440 26,965,440 8,553,860 32% 26,965,440 0
Other- Non Operating revenues 7,981,502 7,981,502 7,981,502 1,994,095 25% 7,981,502 0
Reserve - Building Department Ops. 1,546,709 1,546,709 1,546,709 - 0% 1,546,709 0
Prior Year -End Surplus Set Aside 3,551,120 4,253,401 4,253,401 0% 4,253,401 0
Prior Yr Surplus from Parking Oper Fd 7,200,000 7,200,000 7,200,000 0% 7,200,000 0
Fund Bal -Resry Future Budget Shortfalls 0
TOTALREVENUES $244,336,740 $ 245,039,021 $ 245,651,521 $ 83,679,164 34% $ 244,662,180 $ 989,341
EXPENDITURES
Mayor and Commission 1,583,448 1,583,448 1,583,448 393,788 25% 1,582,000 $ (1,448)
City Manager 2,335,776 2,335,776 2,335,776 558,188 24% 2,314,000 (21,776)
Communications 909,730 909,730 909,730 214,057 24% 894,000 (15,730)
City Clerk 1,560,178 1,566,868 1,566,868 341,823 22% 1,559,000 (7,868)
Finance 4,275,284 4,275,479 4,275,479 1,035,989 8% 4,235,000 (40,479)
Office of Budget & Pert Improve. 1,917,136 1,917,136 1,917,136 464,282 24% 1,894,000 (23,136)
Human Resources /Labor Relations 1,772,358 1,772,358 1,772,358 415,316 23% 1,766,000 (6,358)
Procurement 962,664 962,664 962,664 231,295 24% 967,000 4,336
City Attorney 4,159,498 4,159,498 4,159,498 975,145 23% 4,152,000 (7,498)
Real Estate, Housing & Comm Dev . 815,091 815,091 815,091 191,809 24% 779,460 (35,631)
Community Services 434,834 434,834 434,834 101,868 23% 430,875 (3,959)
Homeless Services 921,844 921,844 921,844 117,078 13% 896,053 (25,791)
Building 9,975,047 10,043,341 10,655,841 2,240,476 21% 10,729,000 73,159
Code Compliance 4,355,491 4,355,491 4,355,491 1,060,070 24% 4,409,000 53,509
Planning 3,187,333 3,208,324 3,208,324 777,729 24% 3,201,000 (7,324)
Tourism & Cultural Development 2,426,925 2,427,086 2,427,086 734,229 30% 2,384,000 (43,086)
Parks and Recreation 21,894,546 21,894,546 21,894,546 4,433,861 20% 21,632,480 (262,066)
Golf Courses 6,198,289 6,198,289 6,198,289 1,659,085 27% 6,088,289 (110,000)
Public Works 6,378,093 6,557,821 6,557,821 1,210,874 18% 6,349,000 (208,821)
Capital Improvement Program 4,744,094 4,777,185 4,777,185 913,068 . 19% 4,521,841 (255,344)
Fire 58,942,391 59,001,680 59,001,680 13,472,475 23% 58,997,870 (3,810)
Police 91,992,541 91,993,213 91,993,213 22,515,407 24% 91,770,000 (223,213)
Citywide Accounts 8,922,525 9,255,695 9,255,695 1,566,199 17% 9,310,000 54,305
Citywide Ace- Operating Contingency 951,612 951,612 951,612 - 0% - (951,612)
Citywide Accounts - Normandy Shore 166,875 166,875 166,875 - 0% 166,875 0
Citywide Accounts- Transfers 797,385 797,385 797,385 6,630 1% 797,385 0
Reserve- Future Budget Shortfalls - 0
Capital Renewal & Replacement 1,755,752 1,755,752 1,755,752 - 0% 1,755,752 0
TOTAL EXPENDITURES $ 244,336,740 $ 245,039,021 $ 245,651,521 $ 55,630,741 23% $ 243,581,879 $ 2,069,642
EXCESS OF REVENUES OVER/
UNDER EXPENDITURES $ 0 $ 0 $ 0 $ 28,048,423 $ 1,080,301 $ 1,080,301
Citywide Acc-Operating Contingency 929,000 929,000
EXCESS OF REVENUES OVER/
(UNDER) EXPENDITURES (NET OF
OPERATING CONTINGENCY ) IIs 0 $ 0 $ 0 $ 28,048,423 $ 151,301 $ 151,301