LTC 499-2016 Analysis of Budget to Preliminary Actual Revenues and Expenses MIAMI BEACH
OFFICE OF THE CITY MANAGER
NO. LTC# 499-2016 LETTER TO COMMISSION
TO: Mayor Philip Levine and Members o the City Co! mis
FROM: Jimmy L. Morales, City Manager
DATE: November 17, 2016 1/
SUBJECT: ANALYSIS OF BUDGET TO PRELIMINARY ACTUAL REVENUES AND
EXPENSES FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2016
The purpose of this LTC is to provide the Mayor and Commission with the status of the Fiscal
Year (FY) 2015/16 budget and a comparison of preliminary actual revenues and expenditures
through September 30, 2016.
The Fiscal Year 2015/16 year-end budget to preliminary actual comparisons is presented in the
following pages. It should be noted that the actual revenues and expenditures in this analysis
are preliminary in nature due to the fact that the City's financial records will not be closed until
after the external auditors complete their review. Historically, this occurs in March, with the
City's Comprehensive Annual Financial Report (CAFR) For the Year Ended September 30,
2016, usually available in April. However, this analysis has considered all year-end entries to
date and has been adjusted for pending entries where appropriate.
This year-end analysis explains any areas where preliminary expenditures exceed the
amended budget as well as significant variances in revenues or expenditures in excess of
$300,000 or 10 percent.
GENERAL FUND ANALYSIS
The preliminary year-end analysis for FY 2015/16 shows that the General Fund has a
preliminary operating budget surplus of $4.5 million or 1.5 percent of the amended General
Fund operating budget.
FY15/16 General Fund Budget
Adopted Budget as
amended through Preliminary FY 2015/16
November, 2016 Year-End Difference
Revenues $ 306,411,000 $ 301,576,000 $ (4,835,000)
Expenditures $ 306,411,000 $ 297,018,000 $ (9,393,000)
Surplus/(Deficit) $ 4,558,000
The City's financial policies require that an 11 percent Emergency Reserve is funded in the
General Fund and recommends that an additional 6 percent of optional Emergency Reserves
are also funded. As of the end of FY 2015/16, the Emergency Reserve totaled 15.8 percent.
General Fund
Position at 9-30-15 Requirement at 9-30-16 Difference Percent
11% Required Reserve $ 30,917,577 $ 33,147,827 $ (2,230,250) 10.3%
6%Optional Reserve $ 16,554,324 $ 18,021,240 $ (1,466,916) 5.5%
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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Allocating $2,230,250 of the year-end surplus will keep the 11 percent Emergency Reserves
fully funded to match the proportional growth in the General Fund budget during FY 2015/16.
The City's financial policies also require that one-time revenues (such as the year-end surplus)
must be used for non-recurring expenses, and that at least half of the annual year-end surplus
must be allocated to the City's Capital Reserve Fund. However, the Administration
recommends that the Capital.Reserve transfer requirement be waived and instead allocate
funds to the 6 percent optional reserve.
Of the $4.5 million surplus, it is proposed to roll-over $851,000 into FY 2016/17 to cover
purchase orders that were encumbered, but not spent during FY 2015/16 due to timing issues
between fiscal years.
Similarly, it is proposed to roll-over $241,000 for projects that were budgeted, but not
completed during FY 2015/16, to carry forward the appropriation for these projects into FY
2016/17.
The remainder of the year-end funds, $1,235,750, are proposed to be added to the 6 percent
of optional Emergency Reserves.
General Fund-;Reserve'Proposal'
Position at 9-30-15 Funding Proposal Total Funded Percent
11%Required Reserve $ 30,917,577 $ 2,230,250 $ 33,147,827 11.0%
6%Optional Reserve $ 16,554,324 $ 1,235,750 $ 17,790,074 5.9%,
The following tables summarize the proposed changes in appropriations to the General Fund:
Projected Surplus $4,558,000
(excluding non-cash impact of losses on investments)
Changes in Expenditure Appropriations
Reserve-Encumbrances 851,000
Reserve-Set Aside for FY 2015/16 Projects in FY 2016/17 241,000
Reserve-Contribution for 11%Required Emergency Reserves 2,230,250
Reserve-Contribution for 6%Optional Emergency Reserves 1,235,750
Revised Net Surplus $ -
GENERAL FUND REVENUES
Preliminary year-end revenues are $4,835,000 below the amended budget. While there were
significant increases in revenue collections for Licenses & Permits and Charges for Services,
these increases were not enough to offset the decreases in collections of Ad Valorem Taxes
and Interest earnings.
For a detail of General Fund Revenues by category, see attached Schedule A. Detailed
comments on significant variances to budget in excess of $300,000 or 10 percent by revenue
category are explained below:
Ad Valorem Taxes —This category includes collections for property taxes in Miami Beach
and Normandy Shores, and Capital Renewal and Replacement. In total, the actual
collections for Ad Valorem Taxes were lower than budget by 2.4 percent or $3.4 million
which may be driven by an increase in property tax bill appeals.
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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Licenses and Permits — This category includes business tax receipts, licenses/
building/special use permits, and sidewalk café fee revenues. In total, the actual
collections for Licenses and Permits are higher than budget by 4.8 percent or $1.4 million
primarily due to increases in Planning Plan Review permit fees of $693,000 and Fire Plan
Review revenues of$673,000.
Charges for Service — This category includes Ambulance fees, Off-Duty fees for Police
and Fire, Golf Course revenues, and fees for various parks and recreation programs.
Actual collections for Charges for Service are higher than budget by 14.5 percent or
$831,000, primarily due to Off Duty Fire Watch being $459,000 over budget and Summer
Programs being $223,000 over budget. This was offset by revenues from Golf Courses
being $627,000 under budget.
Fines & Forfeits — This category includes traffic and parking fines, building code
violations, code enforcement violations, and other items. Actual collections for Fines &
Forfeits are lower than budget by 23 percent or $497,000, primarily due to Building Code
Violation revenues being $283,000 under budget and County Court Fines for Traffic and
Parking being False Alarm fees being $124,000 under budget.
Interest — This category includes interest earnings on investments in the General Fund.
Collections are projected to be 62.9 percent or $1.9 million below budget due to lower
interest rates.
GENERAL FUND EXPENDITURES
Preliminary year-end actual expenditures are $9.4 million or 3.1% below the amended budget.
This variance is made up from savings in several department budgets. A comparison of actual
expenditures to the amended budget by Department is provided in Schedule A. Departments
with significant variances to the amended budget in excess of $300,000 or 10 percent are
explained below:
Mayor & Commission —The Office of the Mayor & Commission is preliminarily estimated
to be below budget by 11.1 percent or $245,000. The variance is primarily due to
operating expenses being under budget.
Environmental & Sustainability — The Environment & Sustainability Department is
preliminarily estimated to be below budget by 32.9 percent or $278,000. The variance is
primarily due to salary savings from vacancies of $108,000 and operating expenses being
under budget by $170,000.
Budget & Performance Improvement — The Office of Budget & Performance
Improvement is preliminarily estimated to be below budget by 11.9 percent or $290,000.
The variance is primarily due to salary savings from vacancies of $105,000 and operating
expenses being under budget by $185,000.
Organizational Development and Performance Initiatives — The Office of
Organizational Development and Performance Initiatives is preliminarily estimated to be
below budget by 14.9 percent or $90,000. The variance is primarily due to salary savings
from vacancies of$67,000 and operating expenses being under budget by $23,000.
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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Finance — The Finance Department is preliminarily estimated to be below the amended
budget by approximately 9.3 percent or $506,000. The variance is due primarily to due to
salary savings of $324,000 due to vacancies and operating expenses being under budget
by $182,000.
Human Resources — The Department of Human Resources is preliminarily estimated to
be below the amended budget by approximately 18.6 percent or $507,000. The variance
is due primarily to due to salary savings due to vacancies of $324,000 and operating
expenses being under budget by $182,000.
Building — The Building Department is preliminarily estimated to be below the amended
budget by 8.7 percent or$1.2 million. The variance is due primarily to projected savings in
salaries and wages resulting from various vacancies. Inspectors are required to meet strict
criteria and qualifications to be employed with the City's Building Department. For this
reason, as employees have separated or retired, the process by which these positions are
filled is extensive thereby yielding salary savings during the current fiscal year. The
Building department also has several demolition projects that were anticipated to be
completed before the end of the fiscal year; however, due to ongoing negotiations and
setbacks with some of the projects expected to be demolished, additional savings will
result from some projects carrying over into the 2016/17 fiscal year.
Tourism Culture & Economic Development — The Office of Tourism Culture &
Economic Development is preliminarily estimated to be below the amended budget by
approximately 12.6 percent or $495,000. The variance is due primarily to due to salary
savings due to vacancies of $143,000 and operating expenses being under budget by
$352,000.
Code Compliance — Code Compliance is preliminarily estimated to be below the
amended budget by 7.4 percent or $455,000 due primarily to salary savings from
vacancies in the amount of $228,000 and capital expenditures being $191,000 under
budget.
Parks & Recreation (including Golf) — The Parks and Recreation Department is
preliminarily estimated to be below the amended budget by 5.9 percent or $1.8 million.
This is primarily due to salaries and benefits being $807,000 under budget and other
operating expenditures being $1.3 million under budget.
Public Works — The Department of Public Works is preliminarily estimated to be below
the amended budget by 11.7 percent or $1.6 million primarily due to salary savings due to
vacancies in the amount of $472,000, operating expenses being $896,000 under budget,
and internal service charges being $277,000 under budget.
Fire —The Fire Department is preliminarily estimated to be above the amended budget by
3.8 percent or $2.4 million. During the budget development process, a salary projection
model in the Eden financial system was utilized to project personnel services costs, which
included salaries and benefits for both classified and unclassified personnel. The
department is projected to be below budget on most other line items.
Citywide Accounts — The Citywide Accounts are projected to be below the amended
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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budget by 18.5 percent or $2.6 million primarily due to savings in employee costs in tuition
reimbursements and accumulated leave, projected payouts, and savings in operating
contingency. Additionally, the Capital Investment Upkeep account is projected to be
$174,000 below the amended budget.
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 and other revenues.
Based on the year-end analysis, all enterprise funds are projected to be at or below budget.
ENTERP.,RISE:FUNDS
Sanitation Sewer Stormwater Water Parking Convention
rm
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 0
FY 2015/16 Amended Budget 21,177,000 48,069,000 23,457,000 35,017,000 79,452,000 10,737,000
Adopted Budget 21,104,000 46,996,000 20,985,000 34,787,000 77,584,000 10,737,000
Amended Budget 21,177,000 48,069,000 23,457,000 35,017,000 79,452,000 10,737,000
Expenditures as of 9/30/16 18,411,416 47,627,291 19,675,009 28,469,356 52,237,158 9,718,378
Expenditures Above/(Below) Amended Budget (2,765,584) (441,709) (3,781,991) (6,547,644) (27,214,842) (1,018,622)
%Variance -13.1% -0.9% -16.1% -18.7% -34.3% -9.5%
Detailed comments on significant variances to budget in excess of $300,000 or 10 percent_ by
fund are explained below:
Sanitation — The Sanitation Fund's expenditures are estimated to be below the
amended budget by approximately $2.6 million primarily due to salaries and benefits
being $1 million under budget due to vacancies in this department throughout the year;
operating expenditures being $882,000 below budget; as well as capital expenses and
internal services charges are projected to be $600,000 below budget. Year-end
revenues are projected to exceed expenses by $1.6 million.
Sewer — The Sewer Fund's expenditures are estimated to be below the amended
budget by approximately $780,000 primarily due to salaries and benefits being
$300,000 under budget due to vacancies in this department throughout the year, and
capital expenditures projected to be $600,000 under budget. These were offset by
operating expenditures and internal service charges exceeding budget by $200,000.
Year-end revenues are projected to equal expenses.
Stormwater — The Stormwater fund is estimated to be below the amended budget by
$3.2 million primarily due to professional services and contract maintenance
expenditures being $1.6 million and $2.3 million below budget respectively. Year-end
revenues are projected to exceed expenses by $1.4 million.
Water — The Water Fund's expenditures are estimated to be below the amended
budget by $1.9 million primarily due to capital expenses projected to be $967,000 below
budget, as well as savings in the 5% operating contingency of $937,000 which is
included in this budget for unforeseen expenditures. Year-end revenues are projected
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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to exceed expenses by $2.5 million, after transferring a budgeted $3.3 million to
reserves.
Parking — The Parking Fund's expenditures are estimated to be below the amended
budget by $19 million primarily due to the budgeted $16 million transfer to reserve,
which was projected to occur as a result of the rate increased during FY17 not being
fully realized. Of this amount, $5.5 million is projected to be available to be transferred
to reserves. In addition, a budgeted transfer of $3.8 million to the Transportation fund
was not executed during this fiscal year due to implementation delays and debt service
expenditures are projected to be $2.5 million below budget.
Based on the year-end analysis, all enterprise funds have revenues equal to or higher than
expenditures with the exception of the Convention Center.
ENT ER PR ISE^FUNDS
Sanitation Sewer Stormwater Water Parking Convention
Center
FY 2015/16 PROJECTED REVENUES
Charges for Services 14,656,093 45,046,720 21,607,868 35,116,938 51,270,000 10,553,881
Other _ 5,456,492 2,248,794 6,725 467,396 9,167,000 0
FY 2015/16 Revenue Projection 20,112,585 47,295,514 21,614,593 35,584,334 60,437,000 10,553,881
FY 2015/16 Expenditure Projection 18,502,916 47,295,514 20,210,631 33,082,993 60,437,000 10,595,621
Surplus/(Shortfall) 1,609,669 0 1,403,961 2,501,342 0 (41,740)
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.
The year-end analysis reveals that all Internal Service funds have expenditures are projected
to be at or below Amended Budget as shown in the table below.
INTERNAL!SERVICE FUNDS..
Fleet Information Property Risk Medical
Central Services Dental
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 0 23,000 377,000 186,000 83,000 0
Budget Amendment 1/13/16 0 0 142,000 0 0 0
Budget Amendment 7/13/16 0 0 0 750,000 0 0
Amended Budget 967,000 10,470,000 16,277,000 9,557,000 15,699,000 28,961,000
Adopted Budget 967,000 10,447,000 15,758,000 8,621,000 15,616,000 28,961,000
Amended Budget 967,000 10,470,000 16,277,000 9,557,000 15,699,000 28,961,000
Expenditures as of 9/30/16 928,642 8,963,156 13,548,848 8,234,135 12,166,646 26,077,279
Expenditures Above/(Below)Amended Budget (38,358) (1,506,844) (2,728,152) (1,322,865) (3,532,354) (2,883,721)
%Variance -4.0% -14.4% -16.8% -13.8% -22.5% -10.0%
Internal Service funds with significant variances to budget in excess of $300,000 or 10 percent
are explained below:
Information Technology — The Information Technology Fund's actual expenses are
projected to be below the amended budget by $1.5 million. This variance is primarily
due to capital expenses being $539,000 under budget, operating expenses being under
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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budget by $575,000 and salaries and benefits being $346,000 under budget due to
vacancies in this department throughout the year.
Property Management — The Property Management Fund's actual expenses are
projected to be below the amended budget by $1 million. This variance is primarily due
to salaries and benefits being $311,000 under budget due to vacancies in this
department throughout the year, as well as operating expenses and capital expenses
projected to be below budget by $350,000, $347,000 respectively.
Risk Management — The Risk Management Fund's actual expenses are projected to
be below the amended budget by $4.3 million. This variance is primarily due to the
projected $2.6 million savings in the case reserves and incurred but not recorded
(IBNR) expenditure, based on actuals claims filed. In addition, operating expenses are
projected to be under budget by $1.7 million.
Medical & Dental — The Medical & Dental Fund's actual expenses are below the
amended budget by $537,000. This variance is primarily due to less than anticipated
medical and prescription claim expenses in the Medical Health Insurance Fund.
A comparison of year-end operating revenues and expenditures shows that all Internal Service
Funds are expected to have revenues in excess of or equal to expenditures as illustrated in the
table below.
INTERNAL SERVICE FUNDS
Fleet Information Property Risk Medical
Central Services Dental
Management Technology Management Management
Insurance
FY 2015/16 PROJECTED REVENUES
Charges for Services 1,194,169 10,166,346 14,715,577 7,952,138 14,442,820 28,809,534
Other 6,490 564,178 55,734 549,117 1,607,669 461,407
FY 2015/16 Revenue Projection 1,200,658 10,730,524 14,771,312 8,501,255 16,050,489 29,270,940
FY 2015/16 Expenditure Projection 928,642 10,470,000 14,771,000 8,501,255 11,318,646 28,423,753
Surplus/(Shortfall) 272,016 260,524 312 0 4,731,843 847,188
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 with the
exception of Normandy Shores which is projected to be 5.6 percent or $13,000 above budget
due to repairs and maintenance expenses.
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
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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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.
In total, preliminary actual revenues exceed the amended budget by 3.8 percent or $3 million
and preliminary actual expenditures are lower than the amended budget by 3.8 percent or $3
million. Expenditure savings consist primarily of unspent contingency. The difference between
actual revenues and expenditures results in a net operating surplus of$6.1 million.
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 and 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, Cultural and Economic Development Department and the Cultural Arts
Council
• Museums and Theatres (Garden Center, Bass Museum, and Colony)
• Golf courses (net of revenues)
• Memorial Day and other special event costs
• Homeless services
• 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 below budget by approximately less
than one percent or $76,000 and, as a result, payments to the Visitor's Convention Authority
(VCA), which are based on a percent of revenues, are projected to be below budget by 11.3
percent or$906,000.
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.
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 percent Resort Tax Fund operating revenues exceed the
amended budget by 7 percent or $890,000 resulting in the transfers to North Beach, Middle
Beach, and South Beach for capital projects; transfers to the arts and cultural programs; and
he transportation fund exceeding the amended budget as represented below.
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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RESORT TAX FUND
Over/(Under)
FY 2015/16 Amended Actuals as of FY 2015/16 Amended Over/(Under)
Adopted FY 2015/16 September 30, Year-End Budget as of Amended
Budget Budget 2016 Projection(rd) Year-End Budget
Revenues
2%Resort Tax 56,231,000 57,534,000 57,457,716 57,458,000 (76,000) -0.1%
1%Resort Tax 12,800,000 12,800,000 13,689,248 13,690,000 890,000 7.0%
Additional 1%for Convention Center 9,600,000 9,600,000 11,836,117 11,837,000 2,237,000 23.3%
Total Revenues 78,631,000 79,934,000 82,983,080 82,984,000 3,050,000 3.8%
Expenditures
General Fund Contribution 36,609,000 36,609,000 39,659,750 36,610,000 1,000 0.0%
Contributions to VCA and GMCVB 8,042,000 8,042,000 7,135,402 7,136,000 (906,000) -11.3%
Contribution to Mt.Sinai 1,000,000 2,000,000 2,000,000 2,001,000 1,000 0.1%
Other Operating/Other Uses 5,858,000 6,161,000 5,290,781 5,526,000 (635,000) -10.3%
Marketing 350,000 350,000 204,318 205,000 (145,000) -41.4%
Contingency 3,156,000 3,156,000 0 1,000 (3,155,000) -100.0%
2%Debt Service 1,216,000 1,216,000 1,216,000 1,217,000 1,000 0.1%
Additional 1%Debt Service for Convention Center 9,600,000 9,600,000 11,892,350 10,541,000 941,000 9.8%
Transfer to Capital,Transp,and Arts 12,800,000 12,800,000 13,689,248 13,690,000 890,000 7.0%
Total Expenditures 78,631,000 79,934,000 81,087,850 76,920,000 (3,014,000) -3.8%
Surplus/(Deficit) 0 0 1,895,230 6,064,000 6,064,000
The projected year-end surplus, as a result of the funding decisions made during the
development of the FY 2016/17 Operating Budget, is projected to be distributed as follows:
Projected Surplus 6,064,000
Set Aside for 1%Debt Service for Conention Center 1,306,000
4,758,000
One Time Funds Assigned During Budget Development
New Garage P23-New Garage- 1623 West Avenue 3,000,000
Air and Sea Show 350,000
Bass Museum 300,000
WorldOut Games 300,000
MLB All Star Game-Fan Fest 100,000
ITF Seniors Tennis Event 50,000
Six Police ATVs 67,000
Unallocated Surplus 591,000
CONCLUSION
This analysis of budget to preliminary actual year-end operating revenues and expenses
through September 30, 2016, provides the status of the FY 205/16 Adopted Budget for the
entire twelve months of the previous fiscal year.
It should be noted that actual expenditures to date are preliminary in nature due to the fact that
the City's financial records will not be closed until after the external auditors complete their
review. Historically, this occurs in April, with the City's Comprehensive Annual Financial Report
(CAFR) For the Year Ended September 30, 2016, usually available in May and the External
Auditor's Report available in July. However, this analysis has considered all year-end entries
to date and adjusted for pending entries where appropriate.
JLM/CGR
LTC -Analysis Of Budget To Preliminary Year-End Actual Revenues And Expenses For The Fiscal Year
Ending September 30, 2016
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SCHEDULE A
%
FY 2015/16 Amended Actuals as of %Actual of FY 2015/16 Over/(Under) Over/(Under)
Adopted FY 2015/16 September 30, Amended 'Year End Amended
Budget Budget 2016 Budget Projections(rd)` Budget Amended
Budget
REVENUES
Ad Valorem Taxes 140,446,000 140,446,000 137,076,844 97.6% 137,077,000 (3,369,000) -2.4%
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 22,634,818 94.5% 23,784,000 (156,000) -0.7%
Licenses and Permits 29,558,000 29,558,000 30,962,939 104.8% 30,963,000 1,405,000 4.8%
Intergovernmental 11,037,000 11,037,000 10,660,984 96.6% 11,221,000 184,000 1.7%
Charges for Services 5,746,000 5,746,000 6,576,971 114.5% 6,577,000 831,000 14.5%
Golf Courses 6,300,000 6,300,000 5,672,828 90.0% 5,673,000 (627,000) -10.0%
Fines and Forfeitures 2,157,000 2,157,000 1,602,064 74.3% 1,660,000 (497,000) -23.0%
Interest 3,074,000 3,074,000 1,588,236 51.7% 1,141,000 (1,933,000) -62.9%
Rents and Leases 6,384,000 6,384,000 6,412,866 100.5% 6,413,000 29,000 0.5%
Miscellaneous 12,588,000 12,588,000 13,050,654 103.7% 12,833,000 245,000 1.9%
Other-Resort Tax Contribution 36,609,000 36,609,000 36,609,000 100.0% 36,609,000 - 0.0%
Other-Non-Operating Revenues 11,252,000 11,452,000 10,902,012 95.2% 10,505,000 (947,000) -8.3%
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 8,400,000 8,400,000 8,400,000 100.0% 8,400,000 - 0.0%
TOTAL REVENUES 300,354,000 306,411,000 295,013,216 963% 301,576,000 (4,835,000) -1.6%
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EXPENDITURES
Mayor and Commission 2,009,000 2,199,000 1,953,162 88.8% 1,954,000 (245,000) -11.1% -
City Manager 3,652,000 3,809,000 3,614,985 94.9% 3,611,000 (198,000) -5.2%
Communications 1,745,000 1,748,000 1,653,220 94.6% 1,656,000 (92,000) -5.3%
Environmental&Sustainability 261,000 844,000 565,685 67.0% 566,000 (278,000) -32.9%
Office of Budget&Performance Improv 2,435,000 2,435,000 2,144,897 88.1% 2,145,000 (290,000) -11.9%
Organizational Development&Perf Initiatives 603,000 603,000 512,150 84.9% 513,000 (90,000) -14.9%
Finance 5,385,000 5,435,000 4,928,873 90.7% 4,929,000 (506,000) -9.3%
Procurement 2,112,000 2,114,000 1,931,860 91.4% 1,943,000 (171,000) -8.1%
Human Resources/Labor Relations 2,685,000 2,721,000 2,213,571 81.4% 2,214,000 (507,000) -18.6%
City Clerk 1,455,000 1,455,000 1,417,203 97.4% 1,420,000 (35,000) -2.4%
City Attorney 5,282,000 5,282,000 5,085,072 96.3% 5,178,000 (104,000) -2.0%
Housing&Comm Services 2,674,000 2,674,000 2,435,206 91.1% 2,436,000 (238,000) -8.9%
Building 13,804,000 13,799,000 12,603,721 91.3% 12,604,000 (1,195,000) -8.7%
Planning 4,260,000 4,274,000 3,946,801 92.3% 3,947,000 (327,000) -7.7%
Tourism,Cultural,&Economic Development 3,936,000 3,936,000 3,332,378 84.7% 3,441,000 (495,000) -12.6%
Code Compliance 5,936,000 6,118,000 5,662,422 92.6% 5,663,000 (455,000) -7.4%
Parks and Recreation 30,761,000 30,812,000 28,983,382 94.1% 29,005,000 (1,807,000) -5.9%
Public Works 14,358,000 14,143,000 12,217,721 86.4% 12,491,000 (1,652,000) -11.7%
Capital Improvement Projects 4,945,000 4,945,000 4,570,454 92.4% 4,668,000 (277,000) -5.6%
Police 99,605,000 99,989,000 99,999,476 100.0% 100,000,000 11,000 0.0%
Fire 62,741,000 62,844,000 65,256,048 103.8% 65,258,000 2,414,000 3.8%
Emergency Management 8,957,000 9,218,000 9,113,258 98.9% 9,265,000 47,000 0.5%
Citywide Accounts&Operating Contingency 12,093,000 14,158,000 10,330,817 73.0% 11,536,000 (2,622,000) -18.5%
Citywide-Normandy Shores 226,000 226,000 226,000 100.0% 226,000 - 0.0%
Citywide-Transfers-Capital Investment Upkeep Fund 315,000 315,000 140,866 44.7% 141,000 (174,000) -55.2%
Citywide-Transfers-Info&Comm Technology Fund 395,000 395,000 395,000 100.0% 395,000 - 0.0%
Citywide-Transfers-Pay-As-You Go Capital Fund 2,400,000 2,400,000 2,400,000 100.0% 2,400,000 - 0.0%
Citywide-Transfer-Capital Reserve Fund 2,000,000 2,000,000 100.0% 2,000,000 - 0.0%
Capital Renewal&Replacement 2,716,000 2,716,000 2,716,000 100.0% 2,716,000 - 0.0%
Capital Projects Not Financed By Bonds - 196,000 - 0.0% - (196,000) -100.0%
Reserve-Public Safety Radio System 500,000 500,000 - 0.0% 500,000 - 0.0%
Reserve-Future Building Dept Needs 2,108,000 2,108,000 - 0.0% 2,197,000 89,000 4.2%
TOTAL EXPENDITURES 300,354,000 306,41.1,000 292,350,227 95.4% 297,018,000 (9,393,000) -3.1%
EXCESS OF REVENUES OVER/(UNDER)EXPENDITURES - - 2,662,989, 4,558,000 4,558,000