LTC 123-2014 Analysis of Budget to Actual Revenues and Expenses ending 12/31/13 ID MIAMI BEACH
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OFFICE OF THE CITY MANAGER
NO. LTC# '3-2014 LETT R TO COMMISSIONO 15 ' 45
TO: Mayor Philip Levine and Members f the City mmission
FROM: Jimmy L. Morales, City Manager
DATE: April 11, 2014
SUBJECT: ANALYSIS OF BUDGET TO A TUAL REVENUES AND EXPENSES FOR THE
THREE MONTHS ENDING DECEMBER 31, 2013, WITH OPERATING BUDGET
PROJECTIONS THROUGH SEPTEMBER 30, 2014
The purpose of this LTC is to provide the Mayor and Commission with the status of the FY
2013/14 budget to actual revenue and expenses reflected at the end of the first quarter with
projections through September 30, 2014. 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."
The first quarter of any fiscal year is not necessarily the most reliable indication of the
experience for the remainder of the fiscal year, but does provide a first glance in identifying any
potential issues. Certain assumptions for both revenue and expenditures were made that are
still developing and will be adjusted for in later projections. These assumptions, along with our
continued effort at managing the City's resources and ongoing adjustments to line item
revenues and expenditures throughout the year will affect our projections going forward.
The FY 2013/14 budget amendment adopted by the City Commission on January 15, 2014,
recognized and additional $4.8 million in revenue from the projected surplus from closing out FY
2012/13. This revenue funded the appropriation of$354,000 in encumbrances and $568,000 in
set asides for projects budgeted in FY 2012/13 that will instead be spent in FY 2013/14. The
amendment also created a $2.1 million Reserve for Future Building Department Needs and a
$1.7 million Reserve for FY 2014/15 Budget Shortfalls. Accordingly, the projections presented
below are compared to both the adopted budget, as well as, to the amended budget via the
January 15th budget amendment.
GENERALFUND
Based upon this first quarter analysis, it is projected that General Fund revenues will exceed
expenditures by $2.1 million. Department expenditures are projected to be $2.4 million below
the amended budget and revenues to be $0.3 million below the amended budget. Of the $2.1
million projected surplus, $931,000 is attributable to Building Department revenues that can only
be used to support enforcement of the building code and related activities.
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 2 of 11
General Fund Overview
An analysis of the actual three-month operating revenues and expenditures for the period
October 1, 2013 through December 31, 2013, reveals an operating budget surplus of $61.8
million. While the surplus as of December 31 st 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 quarter, (historically 60 percent). Ad valorem tax
revenues represent approximately 45 percent of total budgeted revenues and represent 69
percent of the revenues received in the first quarter of the fiscal year.
As of December 31, 2013, revenues collected were approximately 46 percent of budget or
$122.8 million. This year, 72 percent of the budgeted property tax revenue was received in the
first quarter, as compared to the historical level of 60 percent as noted above.
Expenditures are approximately 23 percent of the FY 2013/14 amended budget; however, there
are often delays in expenditures in the first quarter of the fiscal year.
FY 2013/14 Budget
Variance from 1/4 Variance from 1/4
Original Adopted 1/4 of Adopted Actual as of Adopted Budget Amended Budget 1/4 of Amended Amended Budget
General Fund Budget 2014 Budget 12/31/13 Over/(Under) (January 15,2014) Budget Over/(Under)
Revenues $ 264,093,000 $ 66,023,250 $ 122,823,008 $ 56,799,758 $ 268,963,000 $ 67,240,750 $ 55,582,258
Expenditures $ 264,093,000 $ 66,023,250 $ 60,992,006 $ (5,031,244)1 $ 268,963,000 $ 67,240,750 $ (6,248,744)
Surplus/(Deficit) $ - $ - $ 61,831,002 $ 61,831,002 $ - $ -1$ 61,831,002
General Fund Year-End Projections
The projected year-end operating revenues and expenditures through September 30, 2014,
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 December 31,
2013, 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, 2014, reflects a surplus of revenues over expenses totaling $2.1 million. It
should be noted that this analysis is a preliminary projection based on the experience in the first
quarter, which is not necessarily the most reliable indication of the experience for the remainder
of the fiscal year, but does provide a first glance in identifying any potential issues.
FY 2013/14 Budget
Variance
Amended Budget Variance Projected/
Adopted Budget 2013/14(January Projected/ Amended
General Fund 2013/14 15th Amendment) Projected Adopted Budget Budget
Revenues $ 264,093,000 $ 268,963,000 $ 268,631,700 $ 4,538,700 $ (331,300)
Expenditures 264,093,000 268,963,000 266,507,100 2,414,100 (2,455,900)
Surplus/(Deficit) $ - $ - $ 2,124,600 $ 2,124,600 $ 2,124,600
I
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 3 of 11
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 2013/14 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 two years, property tax collections have
been significantly below prior year levels due to higher levels of appeals and adjustments. The
impact of appeals and adjustments for the FY 2013/14 budget will be provided by the Miami-
Dade County Property Appraiser in July.
Overall revenues are projected to be $332,000 below the amended budget. This amount
assumes that a $1.5 million Reserve for Building Department Operations will not be needed in
the current year. When this amount is netted out, revenues are projected to be $1.2 million over
budget. This increase is due primarily to higher than anticipated revenue in Licenses and
Permits from Building Development Process fees ($931,000) and Work in Right-of-Way Permit
fees ($578,000).
As in prior years, significant variances to budget in excess of $300,000 or 10 percent by
revenue category are explained below:
Other Taxes This category includes franchise and utility taxes. In total, the actual
collections for Other Taxes is projected to exceed budget by $391,000, primarily due to
higher than projected electricity utility tax revenues ($437,000), which are derived from
customer usage.
Licenses and Permits — This category includes business tax receipts, licenses/
building/special use permits, and sidewalk cafe fee revenues and is projected to be in
excess of budget by $1.2 million primarily due to increases in Building Development
process revenues of $931,000, reflecting continuing improvement in the economy, and
increased construction activity and resulting fees for Work in Right-of-Way permits of
$578,000.
Fines & Forfeits —This category includes traffic and parking fines, building code violations,
code enforcement violations, and other items. Actual collections for Fines & Forfeits are
projected to be lower than budget by $672,000, primarily due to declines in traffic fines
($230,000), code enforcement violations ($169,000), and fire code violations ($94,000).
Interest — This category includes interest earnings on investments in the General Fund.
Projected collections are $386,000 below budget due to market conditions.
Building Department Reserve—The budget includes $1.5 million to be transferred in from
the Building department reserve to cover budgeted operating losses in that department.
This amount is not anticipated to be transferred since building revenues are projected to be
in excess of operating expenditures even without this transfer.
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 4 of 11
General Fund Operating Expenditures
As of December 31, 2013, actual expenditures were approximately 23 percent of budget or $61
million. Year-end projections through September 30, 2014, indicate that expenditures will be
$266.5 million, approximately $2.4 million (0.9 percent) below the amended budget. The
expenditure projections are based on the first quarter analysis 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. However, 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 Police Department is projected to be $366,000 over budget primarily due to
$488,000 of unreimbursed overtime for traffic management incurred as a result of the Alton
Road construction project.
Variance Variance
Projected/ Projected/
Adopted Budget Amended Budget Adopted Amended
Police 2013/14 2013/14 Projected Budget Budget
Expenditures 98,435,000 98,477,000 98,843,000 408,000 366,000
Organizational Development & Performance Improvement (ODPI) — ODPI is projected
to be $13,700 over the amended budget due to the impact of a reclassification of one of the
two positions in the department.
Variance Variance
Projected/ Projected/
Organizational Dev Adopted Budget Amended Budget Adopted Amended
&Perf Improv 2013/14 2013/14 Projected Budget Budget
Expenditures 392,000 395,000 408,700 16,700 13,700
Parks & Recreation — The Parks and Recreation department is projected to be under the
amended budget by approximately $843,000. This is primarily in salaries and benefits due
to 14 vacancies throughout the department. Several of the vacancies have been filled to
date and the rest are anticipated to be filled before the end of the fiscal year.
Variance Variance
Projected/ Projected/
Adopted Budget Amended Budget Adopted Amended
Parks&Recreation 2013/14 2013/14 Projected Budget Budget
Expenditures 23,876,000 23,940,000 23,097,200 (778,800) (842,800)
Fire - Expenditures in the Fire department are projected to be below the amended budget
by$756,000. This is primarily due to vacancies in management level positions within the
department. Currently in the Fire Suppression division, the Assistant Fire Chief and three
(3) Division Chief positions are vacant. It is anticipated with the appointment of the new
Fire Chief, these vacancies will be filled shortly. In the Ocean Rescue division, there are
currently ten (10) vacancies including the newly reinstated Ocean Rescue Division Chief,
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 5 of 11
two (2) Lifeguard Lieutenants, six (6) Lifeguard Its and one (1) Lifeguard I. A promotional
process is currently underway to fill the nine (9) vacant Lifeguard positions.
Variance
Variance Projected/
Adopted Budget Amendeded Projected/ Amended
Fire 2013/14 Budget 2013/14 Projected Adopted Budget Budget
Expenditures 61,581,000 61,758,000 61,002,000 1,045,000 (756,000)
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, 2013
through December 31, 2013, reveals that all funds except Water, Sewer, and Stormwater have
expenditures less than one-quarter of their budget. Water and Sewer have expenditures in the
first quarter in excess of one-quarter of their budget, primarily as the majority of the annual debt
service payment and all of the Miami-Dade County Department of Regulatory and Economic
Resources (RER, previously known as DERM), fee was incurred in the first quarter. Stormwater
is slightly in excess of one-quarter of their budget because the majority of the annual debt
service payment was made in the first quarter.
ENTERPRISE FUNDS
•yu
Adopted Budget 17,915,000 38,132,000 12,097,000 31,522,000 48,427,000 12,726,000
Budget Amendment 1/15/14 35,000 137,000 399,000 265,000 189,000 20,000
1787 000 48,616,000 12 746 000
Amended Budget 17,950,000 38,269,000 12,496,000 3
1/4 of Adopted Budget 4,478,750 9,533,000 3,024,250 7,880,500 12,106,750 3,181,500
1/4 of Amended Budget 4,487,500 9,567,250 3,124,000 7,946,750 12,154,000 3,186,500
Expenditures as of 12/31/13 3,224,389 10,869,201 3,267,429 8,706,535 10,293,628 1,272,225
Expenditures Above/(Below)
1/4 of Adopted Budget (1,254,361) 1,336,201 243,179 826,035 (1,813,122) (1,909,275)
Expenditures Above/(Below)
1/4 of Amended Budget (1,263,111) 1,301,951 143,429 759,785 (1,860,372) (1,914,275)
The projected year-end operating revenues and expenditures through September 30, 2014, 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, 2013,
the projections have incorporated more recent information, as available.
As represented below, for all funds, revenues are projected to be equivalent or in excess of
expenditures.
The Water Fund and Sanitation Fund are projected to have a surplus due to an increase in the
trend for water consumption and salary savings from vacancies, respectively. The Convention
Center Fund is projecting expenditures higher than the amended budget, which may result in
the need for a budget amendment later in the year. The increase in expenditures is a result of
additional events, which will result in additional offsetting revenue.
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 6 of 11
ENTERPRISE FUNDS
l
PROJECTED REVENUES
Charges for Services 7,709,000 35,586,000 11,710,000 32,815,000 39,140,000 8,152,000
Other 10,345,000 2,251,000 851,000 496,000 9,092,000 6,140,000
Total Projected Revenues 18,054,000 37,837,000 12,561,000 33,311,000 48,232,000 14,292,000
PROJECTED EXPENDITURES 17,316,000 37,702,000 12,481,000 31,695,000 47,767,040 14,292,000
Projected Surplus/(Shortfall) 738,000 135,000 80,000 1,616,000 464,960 -
Variance from Expenditure
Adopted Budget (599,000) (430,000) 384,000 173,000 (659,960) 1,566,000
Variance from Expenditure
Amended Budget (634,000) (567,000) (15,000) (92,000) (848,960) 1,546,000
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, 2013
through December 31, 2013, reveals that all funds have expenditures less than one-quarter of
the FY 2013/14 Amended Budget.
INTERNAL SERVICE FUNDS
Adopted Budget 948,000 10,369,000 15,527,000 9,325,000 13,935,000 25,377,000
Budget Amendment 1/15/14 - 49,000 249,000 134,000 - -
Amended Budget 948,000 10,418,000 15,776,000 9,459,000 13,935,000 25,377,000
1/4 of Adopted Budget 237,000 2,592,250 3,881,750 2,331,250 3,483,750 6,344,250
1/4 of Amended Budget 237,000 2,604,500 3,944,000 2,364,750 3,483,750 6,344,250
Expenditures as of 12/31/13 236,373 2,080,902 2,926,466 1,754,703 2,186,284 4,801,000
Expenditures Above/(Below)1/4
of Adopted Budget (627) (511,348) (955,285) (576,547) (1,297,466) (1,543,250)
Expenditures Above/(Below)1/4
of Amended Budget (627) (523,598) (1,017,535) (610,047) (1,297,466) (1,543,250)
Based on the more realistic projection of year-end operating revenues and expenditures through
September 30, 2013, and incorporating more recent information as available, all Internal Service
Funds, excluding the Risk Management Fund, are expected to have revenues equal to or in
excess of expenditures. Risk Management revenues are projected to be under projected
expenditures by $263,000 due to the actuarial projection for worker's comp claim related
expenses that exceed the budgeted amount by $424,000 resulting from a class action law suit
that has generated 60+ Police and Fire presumption litigated cases. It is anticipated that this
will be a one-time increase based on the unusual number of claims. This deficit will either be
charged back to the Fire and Police departments at the end of year or absorbed by fund
balance in the Risk fund.
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 7 of 11
INTERNAL SERVICE FUNDS
PROJECTED REVENUES
Charges for Services 1,184,000 10,008,000 14,250,000 8,703,000 13,164,000 -
Other 4,000 421,000 1,402,000 771,000 771,000 24,534,000
Total Projected Revenues 1,188,000 10,429,000 15,652,000 9,474,000 13,935,000 24,534,000
PROJECTED EXPENDITURES 948,000 10,418,000 15,646,250 9,459,000 14,198,000 24,523,000
Projected Surplus/(Shortfall) 240,000 11,000 5,750 15,000 (263,000) 11,000
Variance from Expenditure
Adopted Budget - 49,000 119,250 134,000 263,000 (854,000)
Variance from Expenditure
Amended Budget - - (129,750) - 263,000 (854,000)
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.
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
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 8 of 11
• 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 percent Resort Tax Fund operating revenues are projected to be in excess of budget by
approximately $1.3 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 percent) 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.
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/Historic Convention Village Bonds.
These bonds were used for the development, improvement and construction of certain public
areas including a portion of the Cultural Center facilities located within the City Center District.
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, various arts and
cultural programs, and funding for transportation initiatives in tourist-related areas. The 1
percent Resort Tax Fund operating revenues are projected to be in excess of budget by
approximately $0.7 million and, as a result, the debt service and transfers to North Beach,
Middle Beach, and South Beach for capital projects, transfers to the arts and cultural programs,
and transfers for transportation initiatives are projected to exceed budget as represented below.
In total, the projected revenues are estimated to be in excess of budget by $2.1 million and
expenditures in excess of budget by approximately $0.8 million for the reasons described
above. This results in a net operating surplus of approximately $1.3 million for the 1 percent
and 2 percent Resort Tax revenues and expenditures, combined.
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 9 of 11
RESORT TAX FUND
Over/(Under)
FY 2013/14 Budget Amended FY 2013/14 Amended
Adopted Amendment FY 2013/14 Actuals as of Projection as Budget as of
Revenues Budget 1 1/15/14 1 Budget Dec.31,2013 1 of 1st Quarter I 1st Quarter
2%Resort Tax 47,681,000 - 47,681,000 8,419,971 49,056,712 1,375,712
1%Resort Tax 11,097,000 - 11,097,000 1,523,797 11,826,832 729,832
Other Revenues 729,000 51,000 780,000 27,997 780,000 -
Total Revenues 59,507,000 51,000 59,558,000 9,971,765 61,663,544 2,105,544
Expenditures
General Fund Contribution 32,965,000 - 32,965,000 8,241,250 32,965,000 -
Other Operating/Other Uses 4,408,000 48,000 4,456,000 280,125 4,441,796 (14,204)
Contributions to VCA and GMCVB 7,655,000 - 7,655,000 967,447 7,720,722 65,722
Marketing 348,000 3,000 351,000 13,032 351,000 -
Contingency 1,823,000 - 1,823,000 - 1,823,000 -
2%Debt Service 1,211,000 - 1,211,000 - 1,211,000 -
1%Debt Service 5,548,500 - 5,548,500 364,856 5,913,416 364,916
Transfer to Capital,Transp,and Arts 5,548,500 - 5,548,500 761,900 5,913,416 364,916
Total Expenditures 59,507,000 51,000 59,558,000 10,628,610 60,339,351 781,351
Surplus/(Deficit) - - - (656,845) 1,324,193 1,324,193
OVERTIME
At the second public hearing on September 30, 2013, the Commission requested that additional
information regarding Overtime be added to the quarterly variance reports on the FY 2013/14
Budget. A comparison of actual and projected Overtime expenditures to budget by Department
is provided in the attached Schedule B.
In the General Fund, Overtime is projected to be $96,000 over budget, primarily due to
$488,000 of unreimbursed overtime in the Police Department for traffic management incurred as
a result of the Alton Road construction project. Overtime expenditures in the Enterprise and
Internal Service funds are projected to be slightly above budget with offsetting salary savings
from vacancies during the year.
CONCLUSION
This analysis of budget to actual operating revenues and expenses with projections through
September 30, 2014, provides the status of the FY 2013/14 Budget for the first three months of
the fiscal year. Although the first quarter of any fiscal year is not necessarily the most reliable
indication of the experience for the remainder of the fiscal year, it does provide a first glance in
identifying any potential issues.
Based on preliminary projections, the General Fund is anticipated to have a $2.1 million surplus
at year-end. All other funds are projected to break even or have surpluses, except the Risk and
Medical/Dental Funds. Internal service charges to other Departments for these funds are
determined through the budget development process and are charged to a Department based
on 1/1 2th of budget. Should the revenue shortfalls be realized, additional charges may have to
be made to General Fund and Enterprise Departments which could then affect those budgets.
We will continue to monitor these funds on an ongoing basis.
JLM/JW
i
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 10 of 11
SCHEDULE A
CITY OF MIAMI BEACH
FY 2013/14 GENERAL FUND PROJECTIONS
1st Quarter
Over/(Under) %
FY 2013/14 Budget Amended %Actual of FY 2013/14 Amended Over/(Under)
Adopted Amendment FY 2013/14 Actuals as of Amended Projection as of Budget as of Amended
Budget 1/15/14 Budget Dec.31,2013 Budget 1st Quarter 1st Quarter Budget
REVENUES
Ad Valorem Taxes 105,229,000 105,229,000 75,751,478 72.0% 105,280,400 51,400 0.0%
Ad Valorem Taxes-S Pte Costs 10,201,000 - 10,201,000 7,343,421 72.0% 10,206,000 5,000 0.0%
Ad Valorem Cap Renewal&Replac 1,981,000 - 1,981,000 1,426,068 72.0% 1,982,000 1,000 0.0%
Ad Valorem Taxes-Normandy Shores 147,000 - 147,000 105,821 72.0% 147,100 100 0.0%
Other Taxes 22,765,000 - 22,765,000 4,244,961 18.6% 23,156,500 391,500 1.7%
Licenses and Permits 23,383,000 160,000 23,543,000 9,775,051 41.5% 24,794,700 1,251,700 5.3%
Intergovernmental 10,214,000 - 10,214,000 1,566,908 15.3% 10,202,400 (11,600) -0.1%
Charges for Services 4,521,000 - 4,521,000 1,012,668 22.4% 4,754,700 233,700 5.2%
Golf Courses 5,794,000 - 5,794,000 1,406,055 24.3% 5,882,000 88,000 1.5%
Fines and Forfeitures 2,639,000 - 2,639,000 423,272 16.0% 1,966,800 (672,200) -25.5%
Interest 2,921,000 - 2,921,000 3,421,678 117.1% 2,535,000 (386,000) -13.2%
Rents and Leases 6,945,000 - 6,945,000 1,092,433 15.7% 7,236,900 291,900 4.2%
Miscellaneous 12,441,000 - 12,441,000 2,645,445 21.3% 12,365,200 (75,800) -0.6%
Other-Resort Tax Contribution 32,965,000 - 32,965,000 8,241,250 25.0% 32,965,000 - 0.0%
Other-Non-Operating Revenues 8,516,000 - 8,516,000 2,129,000 25.0% 8,516,000 - 0.0%
Reserve-Building Department Ops 1,500,000 - 1,500,000 - 0.0% - (1,500,000) -100.0%
Prior Year-End Surplus Carryover 2,700,000 - 2,700,000 0.0% 2,700,000 0.0%
Prior Year-Set Aside for Pension Credit 831,000 - 831,000 - 0.0% 831,000 0.0%
Prior Year Surplus from Parking Fund 8,400,000 - 8,400,000 2,237,500 26.6% 8,400,000 0.0%
Additional Surplus Balance from FY 2012/13 1 4,710,000 4,710,000 -1 0.0% 4,710,0001 1 0.0%
TOTAL REVENUES 264,093,000 4,870,000 268,963,000 122,823,008 45.7% 268,631,700 1 (331,300) -0.1°A
Unrealized Gains/(Losses)
TOTAL NET OF UNREALIZED GAINS/(LOSSES) 264,093,000 4,870,000 268,963,000 122,823,008 45.7% 268,631,700 (331,300) -0.1%
EXPENDITURES
Mayor and Commission 1,719,000 19,000 1,738,000 397,231 22.9% 1,708,800 (29,200) -1.7%
City Manager 2,911,000 300,000 3,211,000 720,786 22.4% 3,175,900 (35,100) -1.1%
Communications 836,000 73,000 909,000 211,605 23.3% 871,300 (37,700) -4.2%
Office of Budget&Performance Improv, 1,922,000 278,000 2,200,000 445,432 20.2% 2,156,400 (43,600) -2.0%
Organizational Development&Perf Initiatives 392,000 3,000 395,000 75,470 19.1% 408,700 13,700 3.5%
Finance 4,644,000 37,000 4,681,000 1,091,669 23.3% 4,679,200 (1,800) 0.0%
Procurement 1,137,000 131,000 1,268,000 262,958 20.7% 1,213,400 (54,600) -4.3%
Human Resources/Labor Relations 1,822,000 118,000 1,940,000 396,143 20.4% 1,811,400 (128,600) -6.6%
City Clerk 1,344,000 - 1,344,000 $302,911 22.5% 1,342,000 (2,000) -0.1%
City Attorney 4,684,000 158,000 4,842,000 1,036,880 21.4% 4,701,600 (140,400) -2.9%
Real Estate,Housing&Comm Development 1,843,000 5,000 1,848,000 237,259 12.8% 1,801,200 (46,800) -2.5%
Community Services 492,000 - 492,000 118,798 24.1% 491,400 (600) -0.1%
Building 11,945,000 285,000 12,230,000 2,650,737 21.7% 12,194,700 (35,300) -0.3%
Planning 3,467,000 - 3,467,000 773,998 22.3% 3,446,000 (21,000) -0.6%
Tourism&Cultural Development 2,905,000 - 2,905,000 500,914 17.2% 2,888,000 (17,000) -0.6%
Code Compliance 4,876,000 - 4,876,000 1,023,654 21.0% 4,706,000 (170,000) -3.5%
Parks and Recreation 23,876,000 64,000 23,940,000 4,963,027 20.7% 23,097,200 (842,800) -3.5%
Golf Courses 6,183,000 6,183,000 2,118,750 34.3% 6,175,900 (7,100) -0.1%
Public Works 6,735,000 212,000 6,947,000 1,448,021 20.8% 6,848,000 (99,000) -1.4%
Capital Improvement Projects 4,967,000 - 4,967,000 1,104,427 22.2% 4,769,000 (198,000) -4.0%
Police 98,435,000 42,000 98,477,000 24,337,077 24.7% 98,843,000 366,000 0.4%
Fire 61,581,000 177,000 61,758,000 14,737,238 23.9% 61,002,000 (756,000) -1.2%
Citywide Accounts&Operating Contingency 9,842,000 459,000 10,301,000 2,036,093 19.8% 10,172,000 (129,000) -1.3%
Citywide-Normandy Shores 225,000 - 225,000 - 0.0% 225,000 0.0%
Citywide-Transfers-Capital Investment Upkeep Fund 216,000 - 216,000 928 0.4% 216,000 - 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 1,400,000 - 1,400,000 0.0% 1,400,000 - 0.0%
Reserve-Set Aside 1,318,000 (1,279,000) 39,000 - 0.0% - (39,000) -100.0%
Capital Renewal&Replacement 1,981,000 - 1981,000 - 0.0% 1,981,000 - 0.0%
Reserve-Future Building Dept Needs - 2,101,000 2,101,000 - 0.0% 2,101,000 - 0.0%
Reserve-Future Budget Shortfalls - 1,687,000 1,687,000 - 0.0% 1,687,000 0.0%
TOTAL EXPENDITURES 264,093,000 4,870,0001 268,963,000 1 60,992,006 22.7%1 266,508,100 (2,454,900) -0.9%
EXCESS OF REVENUES OVER/(UNDER)EXPENDITURES 61,831,002 2,123,600 2,123,600 (0)
EXCESS OF REVENUES OVER/(UNDER)EXPENDITURES
NET OF UNREALIZED GAINS/(LOSSES) 61,831,002 1 2,123,600 2,123,600
LTC-Analysis Of Budget To Actual Revenues And Expenses For The Three Months Ending
December 31, 2013, With Operating Budget Projections Through September 30, 2014
Page 11 of 11
SCHEDULE B
FY 2013/14 YEAR-TO-DATE OVERTIME ANALYSIS (OCT-DEC 2013)
AMENDED 1/4 OF AMENDED FOR
BUDGET FOR BUDGET FOR OVERTIME AS FY14
DEPARTMENT OVERTIME OVERTIME OF 12131/13 PROJECTION VARIANCE
GENERALFUND
Office of the City Clerk $ 6,000 $ 1,500 $ 669 $ 6,000 $ -
City Manager - - - - -
Human Resources 10,000 2,500 311 1,000 (9,000)
Finance 1,000 250 - - (1,000)
Real Estate&Housing Community Dev 10,000 2,500 24 8,000 (2,000)
Community Services - - 104 1,000 1,000
Tourism&Cultural Development - - - - -
Capital Improvement Program 6,000 1,500 1,202 6,000 -
Public Works 48,000 12,000 18,205 48,000 -
Parks&Recreation 321,000 80,250 97,388 276,000 (45,000)
Police 5,674,000 1,418,500 2,202,298 5,962,000 288,000
Fire 2,045,000 511,250 381,015 1,924,000 (121,000)
Building 63,500 15,000 14,332 63,500 -
Code Compliance 165,000 41,250 45,769 150,000 (15,000)
Citywide - I - I - - I I -
TOTAL 8,349,500 1 2,086,500 1 2,761,317 1 $ 8,445,5001 $ 96,000
ENTERPRISE
Water and Sewer Fund 317,000 $ 79,250 $ 62,741 $ 317,000 $ -
Storm Water 15,000 3,750 7,638 15,500 500
Sanitation Fund 480,500 120,125 104,912 481,500 1,000
Parking Operations Fund 681,300 170,325 246,116 697,000 15,700
TOTAL 1,493,800 373,450 $ 421,407 $ 1,511,000 $ 17,200
INTERNAL SERVICE
Fleet Management 25,000 $ 6,250 $ 10,246 $ 31,000 $ 6,000
Property Management 75,800 18,950 42,174 75,800 -
Central Services 11,000 2,750 2,463 11,000 -
Risk Management 1,000 250 305 1,000 -
Information Technology 15,000 3,750 6,384 15,000 -
TOTAL 127,800 1 31,950 $ 61,572 1$ 133,800 $ 6,000
TOTAL-ALL FUNDS $ 9,971,1001 $ 2,491,900 $ 3,244,296 10,090,300 119,200
I