HomeMy WebLinkAboutR-11-07A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA
ADOPTING AN AMENDED BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1,
2010 AND ENDING SEPTEMBER 30, 2011 AS PROVIDED FOR IN EXHIBIT "A"; PROVIDING
FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Sebastian adopted Resolution No. R -10 -31 on September 22, 2010 approving the
City's 2010 -11 budget, also referred to as the Annual Budget Resolution; and
WHEREAS, an analysis of the revenues and expenditures for the three (3) months ended December 31,
2010 has indicated that adjustments are necessary; and
WHEREAS, the City Manager has previous approved these adjustments in accordance with the Annual
Budget Resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, THAT:
Section 1. The budget of the City of Sebastian, Indian River County, Florida for the Fiscal Year
beginning October 1, 2010 and ending September 30, 2011 be amended, a copy of which is attached hereto
and more particularly identified as Exhibit "A the revised appropriations set out therein are hereby made to
maintain and carry on the government of the City of Sebastian, Indian River County, Florida.
Section 2. All resolutions or parts of resolutions in conflict herewith are hereby repealed.
Section 3. This Resolution shall become effective immediately upon its adoption.
It was moved for adoption by Councilmember
The motion was seconded by Councilmember Gillmor and, upon being put to a vote, the vote
was as follows:
The Mayor thereupon declared this Resolution duly passed and adopted this 23rd day of March 2011.
CITY OF SE ASTIA FLORIDA
By:
A
Mayor Jim Hill
Vice -Mayor Don Wright
Councilmember Andrea Coy
Councilmember Richard H. Gillmor
Councilmember Eugene Wolff
Sally A. Maiy!MMC
City Clerk
RESOLUTION NO. R -11 -07
Wright
aye
aye
aye
aye
aye
Mayor Jim Hill
Approved as to form and content for
reliance by the City of Sebastian only:
Robert A. Ginsburg, City Attorney
FUND TITLE
GENERAL
Revenues
Expenditures
LOCAL OPTION GAS TAX
Revenues
Expenditures
DISCRETIONARY SALES TAX
Revenues
Expenditures
RECREATION IMPACT FEE
Revenues
Expenditures
STORMWATER UTILITY FEE
Revenues
Expenditures
LAW ENFORCEMENT FORFEITURE
Revenues
Expenditures
DST DEBT SERVICE FUND
Revenues
Expenditures
STORMWATER DEBT SERVICE FUND
Revenues
Expenditures
GOLF COURSE
Revenues
Expenses
AIRPORT
Revenues
Expenses
BUILDING
Revenues
Expenses
TOTAL BUDGET
EXHIBIT "A"
BUDGET BEFORE
ADJUSTMENTS
10,454,340
10,454,340
689,463
689,463
2,349,593
2,349,593
475,000
475,000
1,138,977
1,138,977
10,250
10,250
1,020,411
1,020,411
439,999
439,999
1,297,884
1,297,884
395,070
395,070
465,740
465,740
18,736,727
FY 2010
1ST QUARTER
ADJUSTMENTS
17,952
17,952
1,286,429
1,286,429
554,731
554,731
145,519
145,519
2,004,631
AMENDED
BUDGET AFTER
ADJUSTMENTS
10,472,292
10,472,292
1,975,892
1,975,892
2,904,324
2,904,324
620,519
620,519
1,138,977
1,138,977
10,250
10,250
1,020,411
1,020,411
439,999
439,999
1,297,884
1,297,884
395,070
395,070
465,740
465,740
20,741,358
Description
GENERAL FUND SUMMARY
TAXES
LICENSES PERMITS
INTERGOVERNMENTAL REVENUES
CHARGES FOR SERVICES
FINES AND FORFEITS
MISCELLANEOUS REVENUES
TRANSFER FROM OTHER FUNDS
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
CITY COUNCIL
CITY MANAGER
CITY CLERK
LEGAL
ADMINISTRATIVE SERVICES
MANAGEMENT INFO SERVICES
POLICE DEPARTMENT
PUBLIC WORKS
GROWTH MANAGEMENT
NON DEPARTMENTAL
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
Property tax collections during the first quarter this year are lower than last year, probably as a result of the economy. Licenses and permits
include driveway and alarm permits and fees for zoning, site plan and plat changes. Fines and Forfeits include collection of Code Enforcement
liens, which have increased over prior years. Miscellaneous Revenues includes investment income. Total Sources includes the amount of actual
and estimated cash reserves. For the 2011 Annual Budget, we did not anticipate using any cash reserves. It is also noted that actual Beginning
Cash Reserves as of October 1, 2010 were $4,962,399, which was $105,846 Tess than the $5,068,245 we had estimated when we adopted the
2011 Annual Budget. Although a bit short of expectations, we are pleased that our estimate was fairly close.
Spending by all the Departments are all within the 25% of budget (one -fourth of the fiscal year) except City Clerk, which is because of the
p ayment to Indian River County for the costs of the election and Non Departmental, which is due to the City's contribution to the CRA Fund being
made in the first quarter.
LOCAL OPTION GAS TAX FUND
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
DEBT SERVICE
OTHER EXPENDITURES
TRANSFERS TO OTHER FUNDS
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
DISCRETIONARY SALES TAX FUND
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
TRANSFERS TO OTHER FUNDS
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
1st Qtr YTD BUDGET 1st Qtr YTD BUDGET 1st Qtr YTD BUDGET
3,764,595 7,934,958 47.4% 3,432,196 7,531,430 45.6% 3,120,719 7,179,708 43.5%
6,284 55,200 11.4% 9,758 51,400 19.0% 3,841 44,650 8.6%
298,486 2,052,529 14.5% 283,430 1,723,105 16.4% 285,828 1,836,540 15.6%
69,351 327,301 21.2% 62,189 289,147 21.5% 66,987 286,550 23.4%
15,911 59,600 26.7% 16,871 55,000 30.7% 18,683 65,500 28.5%
42,451 490,759 8.7% 78,853 423,190 18.6% 49,252 305,585 16.1%
205,625 949,080 21.7% 191,222 848,909 22.5% 184,182 753,759 24.4%
4,402,703 11,869,427 37.1% 4,074,519 10,922,181 37.3% 3,729,492 10,472,292 35.6%
5,534,856 6,131,749 90.3% 5,166,999 5,255,327 98.3% 4,962,399 5,068,245 97.9%
9,937,559 18,001,176 55.2% 9,241,518 16,177,508 57.1% 8,691,891 15,540,537 55.9%
12,485 54,065 23.1% 10,708 52,117 20.5% 10,950 49,708 22.0%
62,288 269,986 23.1% 58,549 254,480 23.0% 50,784 234,642 21.6%
68,593 297,087 23.1% 96,273 296,444 32.5% 71,662 272,792 26.3%
92,475 194,494 47.5% 16,642 125,340 13.3% 16,017 125,785 12.7%
137,617 578,543 23.8% 117,659 492,658 23.9% 115,061 478,562 24.0%
60,300 266,344 22.6% 52,161 266,913 19.5% 57,149 248,908 23.0%
1,158,581 4,826,931 24.0% 1,079,782 4,675,788 23.1% 1,062,526 4,790,650 22.2%
955,923 4,319,990 22.1% 788,993 3,694,008 21.4% 648,853 3,385,604 19.2%
75,417 382,856 19.7% 85,260 437,156 19.5% 77,280 348,734 22.2%
459,001 679,131 67.6% 343,563 627,277 54.8% 272,246 536,907 50.7%
3,082,679 11,869,427 26.0% 2,649,590 10,922,181 24.3% 2,382,528 10,472,292 22.8%
6,854,880 5,906,749 116.1% 6,591,928 5,255,327 125.4% 6,309,363 5,068,245 124.5%
9,937,559 18,001,176 55.2% 9,241,518 16,177,508 57.1% 8,691,891 15,540,537 55.9%
112,881
226,792
339,673
51,734
62,500
114,234
225,439
339,673
Refinancing the Paving Loan provided funds for additional paving work
and ending cash reserves include the amount of the loan proceeds that
payments.
353,467
1-,404,945
1,758,412
CITY OF SEBASTIAN, FLORIDA
COMPARISON OF ACTUAL TO BUDGET
END OF 1ST QUARTER
FISCAL YEARS 2008, 2009 AND 2010
FY2009 FY2010
754,800 15.0%
140,000 162.0%
894,800 38.0%
300,000
204,800
250,000
754,800
140,000
894,800
2,478,000
2,626,000
5,104,000
317,426 3,267,957
317,426 3,267,957
1,440,986 1,836,043
1,758,412 5,104,000
0.0%
25.3%
25.0%
15.1%
161.0%
38.0%
14.3%
53.5%
34.5%
9.7%
9.7%
78.5%
34.5%
1
98,521 818,000 12.0% 97,240 623,521 15.6%
82,854 152,559 54.3% 1,392,655 1,401,543 99.4%
181,375 970,559 18.7% 1,489,895 2,025,064 73.6%
52,866
52,866
128,509
181,375
300,000
293,000
593,000
377,559
970,559
331,194 2,510,445
683,036 1,904,156
1,014,230 4,414,601
579,711 3,673,830
579,711 3,673,830
434,519 740,771
1,014,230 4,414,601
0.0%
18.0%
0.0%
8.9%
34.0%
18.7%
132,207
48,578
697,040
877,825
612,070
1,489,895
FY2011
264,463
250,000
1,461,429
1,975,892
49,172
2,025,064
50.0%
19.4%
47.7%
44.4%
n/a
73.6%
and lowered the annual debt service requirement. 2011 actual beginning
have not yet been expended. 1st quarter revenue reflects just two months
13.2% 330,734 2,349,593 14.1%
35.9% 1,379,095 1,292,080 106.7%
23.0% 1,709,829 3,641,673 47.0%
15.8% 464,275 2,718,788 17.1%
15.8% 464,275 2,718,788 17.1%
58.7% 1,245,554 922,885 135.0%
23.0% 1,709,829 3,641,673 47.0%
1st quarter revenue reflects just two months payments, because the October payment for September collections was accounted for in 2010.
Description
RECREATION IMPACT FEE FUND
TOTAL REVENUES 9,523 135,000 7.1%
BEGINNING CASH RESERVES 1,033,393 1,300,000 79.5%
TOTAL SOURCES 1,042,916 1,435,000 72.7%
TRANSFERS TO OTHER FUNDS
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
A number of projects are being funded from cash reserves.
STORMWATER UTILTY FUND
TOTAL REVENUES 594,811 897,200 66.3% 590,195 877,344 67.3% 608,723 843,200 72.2%
FEGINNING CASH RESERVES 1,012,003 1,141,387 88.7% 795,650 651,397 122.1% 588,841 601,040 98.0%
TOTAL SOURCES 1,606,814 2,038,587 78.8% 1,385,845 1,528,741 90.7% 1,197,564 1,444,240 82.9%
OTHER EXPENDITURES
TRANSFERS TO OTHER FUNDS
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
238,159
238,159
1,368,656
1,606,814
Stormwater fee collections have declined due to property owners receiving
their properties.
LAW ENFORCEMENT FORFEITURE FUND
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
TRANSFER FROM OTHER FUNDS
MISC. REVENUES
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
DEBT SERVICE
TOTAL EXPENDITURES
ENDING CASH RESERVES
TOTAL USES
CITY OF SEBASTIAN, FLORIDA
COMPARISON OF ACTUAL TO BUDGET
END OF 1ST QUARTER
FISCAL YEARS 2008, 2009 AND 2010
FY2009
1st Qtr YTD BUDGET
175,000 0.0%
175,000 0.0%
1,042,916 1,260,000 82.8%
1,042,916 1,435,000 72.7%
3,500 0.0%
1,452,635 16.4%
1,456,135 16.4%
582,452 235.0%
2,038,587 78.8%
1,370 11,500 11.9% 732 10,200 7.2% 840 10,250 8.2%
51,947 23,000 225.9% 54,018 20,970 257.6% 73,160 52,609 139.1%
53,317 34,500 154.5% 54,750 31,170 175.6% 74,000 62,859 117.7%
1st Qfr YTD BUDGET 1st Qtr YTD BUDGET
5,878 56,247 10.5% 4,057 30,791 13.2%
1,095,485 884,464 123.9% 1,106,310 998,826 110.8%
1,101,363 940,711 117.1% 1,110,367 1,029,617 107.8%
1,556
1,556
1,099,808
1,101,363
'234,561
1234,561
1 151,284
11385,845
FY2010 FY2011
251,246
251,246
689,465
940,711
100
1,020,454
1,020,554
508,187
1,528,741
0.6% 13,536
0.6% 13,536
159.5% 1,096,831
117.1% 1,110,367
0.0%
23.0%
23.0%
226.5%
90.7%
234,719
234,719
962,845
1,197,564
620,519 2.2%
620,519 2.2%
409,098 268.1%
1,029,617 107.8%
100 0.0%
1,138, 877 20.6%
1,138,977 20.6%
305,263 315.4%
1,444,240 82.9%
credits allowed by the Ordinance for stormwater facilities they made to
2,763 15,500 17.8% 3,179 0.0% 614 0.0%
50,553 19,000 266.1% 51,571 31,170 165.5% 73,386 62,859 116.7%
53,317 34,500 154.5% 54,750 31,170 175.6% 74,000 62,859 117.7%
These funds are used for the DARE Program, for vehicle towing charges pending reimbursement and to provide drug investigation monies.
DISCRETIONARY SALES TAX BOND FUND
258,239 1,032,957 25.0% 258,966 1,035,869 25.0%
283 1,974 14.4% 199 1,000 19.9%
258,523 1,034,931 25.0% 259,165 1,036,869 25.0%
338,906 210,000 161.4% 1,409,493 214,358 657.5%
597,429 1,244,931 48.0% 1,68,658 1,251,227 133.4%
249,389
460
249,849
1,554,654
1,804,503
997,557 25.0%
22,854 2.0%
1,020,411 24.5%
1,541, 577 100.8%
2,561,988 70.4%
OPERATING EXPENDITURES 300 0.0% 375 300 125.0% 300 0.0%
DEBT SERVICE 156,478 1,034,631 15.1% 1,036,569 0.0% 1,019,279 0.0%
TOTAL EXPENDITURES 156,478 1,034,931 15.1% 375 1,036,869 0.0% 1,019,579 0.0%
ENDING CASH RESERVES 440,950 210,000 210.0% 1,668,283 214,358 778.3% 1,804,503 1,542,409 117.0%
TOTAL USES 597,429 1,244,931 48.0% 1,668,658 1,251,227 133.4% 1,804,503 2,561,988 70.4%
At the end of 2009, with the rating downgrade of the insurer of our bond reserve, additional funds had to be transferred to the Bond Fund Cash
Reserves. Thus, the YTD Actual Beginning and Ending Cash Reserves in 2010 were much higher than originally budgeted.
STORMWATER UTILITY BOND FUND
TRANSFER FROM OTHER FUNDS 110,034 440,135 25.0% 109,560 438,240 25.0% 109,719 438,877 25.0%
MISC. REVENUES 11 875 1.2% 5 120 3.8% 42 1,122 3.7%
TOTAL REVENUES 110,044 441,010 25.0% 109,565 438,360 25.0% 109,761 439,999 24.9%
BEGINNING CASH RESERVES 85,876 20,470 419.5% 144,635 20,686 699.2% 182,951 182,932 100.0%
TOTAL SOURCES 195,920 461,480 42.5% 254,200 459,046 55.4% 292,712 622,931 47.0%
92,943 441,010 21.1% 89,118 438,360 20.3% 84,893 439,911 19.3%
92,943 441,010 21.1% 89,118 438,360 20.3% 84,893 439,911 19.3%
102,978 20,470 503.1% 165,082 20,686 798.0% 207,819 183,020 113.5%
195,920 461,480 42.5% 254,200 459,046 55.4% 292,712 622,931 47.0%
At the end of 2009, with the rating downgrade of the insurer of our bond reserve, additional funds had to be transferred to the Bond Fund Cash
Reserves. Thus, the YTD Actual Beginning and Ending Cash Reserves in 2010 were much higher than originally budgeted.
2
Description
GOLF COURSE FUND
CHARGES FOR SERVICE
MISC. REVENUES
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
BUILDING FUND
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
CITY OF SEBASTIAN, FLORIDA
COMPARISON OF ACTUAL TO BUDGET
END OF 1ST QUARTER
FISCAL YEARS 2008, 2009 AND 2010
FY2009 FY2010 FY2011
1st Qtr YTD BUDGET 1st Qtr YTD BUDGET 1st Qtr YTD BUDGET
390,575 1,613,050 24.2% 374,168 1,483,200 25.2% 351,816 1,261,474 27.9%
12,347 172,627 7.2% 8,617 112,713 7.6% 7,326 36,410 20.1%
402,922 1,785,677 22.6% 382,785 1,595,913 24.0% 359,142 1,297,884 27.7%
542,988 766,000 70.9% (44,711) 764,318 -5.8% (335,946) (367,001) 91.5%
945,910 2,551,677 37.1% 338,074 2,360,231 14.3% 23,196 930,883 2.5%
PERSONAL SERVICES 85,001 386,301 22.0% 75,433 350,023 21.6% 74,845 340,270 22.0%
OPERATING EXPENSES 258,386 995,642 26.0% 208,902 922,790 22.6% 223,896 921,634 24.3%
CAPITAL OUTLAY 87,199 98,744 88.3% 10,000 0.0% 0.0%
DEBT SERVICE 304,990 0.0% 1,075 313,100 0.3% 1,075 0.0%
TOTAL EXPENDITURES 430,585 1,785,677 24.1% 285,410 1,595,913 17.9% 298,741 1,262,979 23.7%
ENDING CASH RESERVES 515,324 766,000 67.3% 52,664 764,318 6.9% (275,545) (332,096) 83.0%
TOTAL USES 945,910 2,551,677 37.1% 338,074 2,360,231 14.3% 23,196 930,883 2.5%
Shortfalls in actual revenues required the use of Cash Reserves to meet total expenditures over the past few years. It is normally our intent to
maintain Cash Reserves exceeding liabilities but at the beginning of 2010, we would not have enough cash on hand to pay off accrued
compensated absenses and refund prepaid memberships and customer credits. 2010 was the last year of debt service on the Bonds and we are
hopeful that we can begin to correct this.
AIRPORT FUND
LEASE REVENUES
MISC. REVENUES
TOTAL REVENUES
BEGINNING CASH RESERVES
TOTAL SOURCES
90,387
797
91,185
10,346
101,531
378,560
30,000
408,560
155,000
563,560
23.9%
2.7%
22.3%
6.7%
18.0%
67,732
4,081
71,813
(51, 651)
20,162
371,219
17,000
388,219
65,784
454,003
231,369
148,300
8,550
388,219
65,784
18.2%
24.0%
18.5%
-78.5%
4.4%
23.9%
48.9%
56.1
0.0%
34.2%
171.1%
90,788
2,906
93,694
(7,625)
86,069
152,098 536,207 28.4% 140,153 489,334 28.6% 143,252
795,913 1,035,000 76.9% 651,126 779,429 83.5% 554,519
948,011 1,571,207 60.3% 791,279 1,268,763 62.4% 697,771
345,855
20,000
365,855
(96,942)
268,913 32.0%
26.3%
14.5%
25.6%
7.9%
PERSONAL SERVICES 55,935 232,065 24.1% 55,405
OPERATING EXPENSES 40,011 101,031 39.6% 72,539
TRANSFER TO PROJECTS 13,148 75,464 17.4% 4,795
DEBT SERVICE 0.0%
TOTAL EXPENDITURES 109,094 408,560 26.7% 132,739
ENDING CASH RESERVES (7,564) 155,000 -4.9% (112,577)
TOTAL USES 101,531 563,560 18.0% 20,162 454,003 4.4% 86,069 268,913 32.0%
Cash Reserves have been used to meet total expenditures and required grant matching funds over the past several years. It is normally our
intent to maintain Cash Reserves exceeding liabilities but at the end of each year, we have not had enough cash on hand to pay off accrued
compensated absenses and other liabilities.
51,689 230,275 22.4%
49,186 156,245 31.5%
0.0%
8,550 0.0%
100,875 395,070 25.5%
(14,806) (126,157) 11.7%
355,650 40.3%
504,899 109.8%
860,549 81.1%
PERSONAL SERVICES 90,188 398,841 22.6% 87,482 379,674 23.0% 81,922 367,626 22.3%
OPERATING EXPENSES 31,028 137,366 22.6% 23,734 109,660 21.6% 22,895 98,114 23.3%
TOTAL EXPENDITURES 121,216 536,207 22.6% 111,215 489,334 22.7% 104,817 465,740 22.5%
ENDING CASH RESERVES 826,794 1,035,000 79.9% 680,064 779,429 87.3% 592,954 394,809 150.2%
TOTAL USES 948,011 1,571,207 60.3% 791,279 1,268,763 62.4% 697,771 860,549 81.1%
Ending Cash Reserves have steadily declined due to the economic slump. However, Beginning Cash Reserves for 2011 were slightly higher than
anticipated.
Description
GENERAL FUND DETAIL ON DEPARTMENTS
CITY COUNCIL
Personnel
Operating
Totals
CITY MANAGER
Personnel
Operating
Totals
CITY CLERK
Personnel
Operating
Totals
LEGAL
Personnel
Operating
Totals
AIDMINISTRATIVE SERVICES
t`Personnel
Operating
Totals
MANAGEMENT INFO SERVICES
Personnel
Operating
Capital Outlay
Totals
POLICE DEPARTMENT
Personnel
Operating
Capital Outlay
Totals
PUBLIC WORKS
Personnel
Operating
Capital Outlay
Totals
GROWTH MANAGEMENT
.Personnel
Operating
Totals
NON DEPARTMENTAL
Personnel
Operating
Transfers to Other Funds
Totals
TOTAL EXPENDITURES
Personnel
Operating
Capital Outlay
Transfers to Other Funds
Totals
ENDING CASH RESERVES
TOTAL USES
1st Qtr YTD BUDGET
5,703
6,783
12,485
58,244
4,045
62,288
56,643
11,949
68,593
77,867
14,608
92,475
110,403
27,213
137,617
47,767
12,534
0
60,300
CITY OF SEBASTIAN, FLORIDA
COMPARISON OF ACTUAL TO BUDGET
END OF 1ST QUARTER
FISCAL YEARS 2008, 2009 AND 2010
oh
22,755 25.1%
31,310 21.7%
54,065 23.1%
265,486 21.9% 55,473
4,500 89.9% 3,075
269,986 23.1% 58,549
252,302 22.5%
44,785 26.7%
297,087 23.1%
81,636 95.4%
112,858 12.9%
194,494 47.5%
499,528 22.1%
79,015 34.4%
578,543 23.8%
217,279 22.0%
24,065 52.1%
25,000 0.0%
266,344 22.6%
1,028,428 4,352,783 23.6%
123,842 438,548 28.2%
6,310 35,600 17.7%
1,158,581 4,826,931 24.0%
FY2009 FY2010
661,584 2,910,076 22.7%
290,849 1,389,114 20.9%
3,490 20,800 16.8%
955,923 4,319,990 22.1%
72,526
2,891
75,417
0
459,001
0
459,001
366,446 19.8%
16,410 17.6%
382,856 19.7%
5,000 0.0%
674,131 68.1%
0 0.0%
679,131 67.6%
2,119,164 8,973,291 23.6%
953,715 2,814,736 33.9%
9,800 81,400 12.0%
0 225,000 0.0%
3,082,679 12,094,427 25.5%
6,854,880 5,906,749 116.1%
9,937,559 18,001,176 55.2%
4
1st Qtr YTD BUDGET
5,700
5,009
10,708
54,070
42,203
96,273
0
16,642
16,642
90,660
26,999
117,659
45,660
5,201
1,301
52,161
83,028
2,233
85,260
0
343,563
0
343,563
22,742
29,375
52,117
250,455
4,025
254,480
240,794
55,650
296,444
0
125,340
125,340
408,939
83,719
492,658
206,855
28,735
31,323
266,913
980,123 4,250,025
99,659 398,892
0 26,871
1,079,782 4,675,788
596,141 2,563,799
180,852 1,118, 209
12,000 12,000
788,993 3,694,008
372,436
64,720
437,156
15,000
612,277
0
627,277
1,910,855 8,331,045
725,435 2,520,942
13,301 70,194
0 0
25.1%
17.1%
20.5%
22.1%
76.4%
23.0%
22.5%
75.8%
32.5%
0.0%
13.3%
13.3%
22.2%
32.2%
23.9%
22.1%
18.1%
4.2%
19.5%
23.3%
16.2%
100.0%
21.4%
22.3%
3.4%
19.5%
0.0%
56.1%
0.0%
54.8%
22.9%
28.8%
18.9%
0.0%
2,64 590 10,922,181 24.3%
6,59 ,928 5,255,327 125.4%
9,24 16,177,508 57.1%
1st Qtr YTD BUDGET
5,695
5,255
10,950
50,361
423
50,784
52,695
18,967
71,662
0
16,017
16,017
87,979
27,082
115,061
23.1% 959,611
25.0% 101,996
0.0% 919
23.1% 1,062,526
69,957
7,323
77,280
0
272,246
0
272,246
1,769,196
610,983
2,349
0
FY2011
22,761 25.0%
26,947 19.5%
49,708 22.0%
229,734 21.9%
4,908 8.6%
234,642 21.6%
243,373 21.7%
29,419 64.5%
272,792 26.3%
0 0.0%
125,785 12.7%
125,785 12.7%
397,517 22.1%
81,045 33.4%
478,562 24.0%
44,401 203,713 21.8%
12,748 40,195 31.7%
0 5,000 0.0%
57,149 248,908 23.0%
4,397,021 21.8%
392,709 26.0%
920 99.9%
4,790,650 22.2%
498,497 2,348,344 21.2%
148,926 1,024,460 14.5%
1,430 12,800 11.2%
648,853 3,385,604 19.2%
312,127 22.4%
36,607 20.0%
348,734 22.2%
15,000 0.0%
521,907 52.2%
0 0.0%
536,907 50.7%
8,169,590 21.7%
2,283,982 26.8%
18,720 12.5%
0 0.0%
2,382,528 10,472,292 22.8%
6,309,363 5,068,245 124.5%
8,691,891 15,540,537 55.9%
GENERAL CAPITAL PROJECTS
FUND 310
Project
Number Description
C1011
:C1105
C1106
C1107
C1108
CAPITAL IMPROVEMENT PROJECTS
FUND 320
Project
Number Description
C0721 Hardee Park Improvement (Zone A)
C0824 Periwinkle Stormwater Park Enhancement:
C0921 Schumann Park Improvements
C1021 Splash Park Canopy (RIF)
C1022 Skate Park Office (RIF)
C1121 Barber Street Field Expansion
C1122 Riverview Park Pavilion
C1123 Bark Park Amenties
C1124 Lift Station riverview Park
C1125 Riverview Park Irrigation Fountains
CI 126 Riverview Park Street Parking
C1127 Parking Study
01128 Waterfront Renovations
TRANSPORTATION CAPITAL PROJECTS
FUND 330
Project
Number Description
STORMWATER IMPROVEMENT FUND
FUND 363
Project
Number Description
C4604 Middle Stonecrop Improvements 382,301.00
C4606 Collier Creek Improvements 4,925,102.11
C0961 Potomac Road Crossing 125,000.00
P0003 1/4 Round Swale Rehab (DST) 2,147,720.00
C1601 Stormwater master Plan 50,000.00
AIRPORT PROJECTS
FUND 455
Project
Number Description
Police Vehicle Replacement
Police Vehicle Replacement
Munis Upgrade
MIS Broadcasting Equipment
Excavation Equipment
C3502 Access Road ($828,081 Grant)
C0951 Construct Hangars (1,160,000 grant)
CAPITAL PROJECT STATUS REPORT
12/31/2010
Budget
385,000.00
276,500.00
25,000.00
75,000.00
200,000.00
961,500.00
Year
To-Date
Expenditures
210,981.63
18,751.94
210,981.63
Years
To -Date
Budget Expenditure)
50,000.00 14,294.78
6,000.00 5,511.39
204,460.00 142,653.11
50,000.00
50,000.00
125,000.00
50,000.00
75,000.00
100,000.00
25,000.00
100,000.00
30,000.00
200,000.00
1,065,460.00
Years
To-Date
Budget Expenditures
2,814,812.57
Budget
7,630,123.11
Budget
990,086.00
1,450,000.00
2,440,086.00
Years
To -Date
Expenditures
Years
To -Date
Expenditures
26,072.05
3,752.00
1,054.44
4,341.82
197,679.59
C0735 Powerline Road 1,161,250.00 155,582.60
C0834 512 Corridor (DST FDOT Grant) 279,528.00 23,989.37
C1031 2010 Bank Note Road Improvements 1,250,461.00 594,927.76
CI131 US 1 Improvements 25,000.00 7,139.21
P0001 Road Paving 39,554.57 8,336.00
P0002 Sidewalk/Bikepath Program 59,019.00 54,131.00
844,105.94
191,861.73
4,907,797.11
34,509.99
1,821,128.50
6,955,297.33
937,898.59
5,320.00
943,218.59
Encumbrances
3,837.00
23,645.96
Encumbrances
21,413.82 14,291.40 71.42%
488.61 91.86%
2,940.00 58,866.89 71.21%
50,000.00 0.00%
8,148.00 15,779.95 68.44%
125,000.00 0.00%
50,000.00 0.00%
75,000.00 0.00%
100,000.00 0.00%
21,248.00 15.01%
100,000.00 0.00%
26,350.00 2,595.56 91.35%
195,658.18 2.17%
58,851.82
Encumbrances
56,137.50
528,247.00
6,160.79
Encumbrances
113,387.00
Encumbrances
4,200.00
Balance
to
Complete
174,018.37
276,500.00
2,411.06
51,354.04
200,000.00
450,518.37 21.94%
Balance
to
Complete Complete
Balance
to
Complete Complete
949,529.90 18.23%
255,538.63 8.58%
127,286.24 89.82%
11,700.00 53.20%
31,218.57 21.07%
4,888.00 91.72%
590,545.29 1,380,161.34 29.99%
Balance
to
Complete
190,439.27
17,305.00 (0.00)
90,490.01
68,582.00 258,009.50
27,500.00 22,500.00
Complete
Complete
50.19%
100.00%
27.61%
87.99%
55.00%
561,438.78 91.16%
Balance
to
Complete Complete
52,187.41 94.73%
1,440,480.00 0.66%
4,200.00 1,492,667.41 0.00%
54.80%
0.00%
90.36%
31.53%
0.00%
808,928.59 18.55%
QTY OF
HOME OF PELICAN ISLAND
QUARTERLY INVESTMENT REPORT
FOR THE QUARTER ENDED
DECEMBER 31, 2010
Prepared by
Administrative Services Department
As of December 31, 2010, the total available funds of the City were $16,049,759.
$5,486,527 was held in an interest bearing checking account and $10,563,232 was
invested in the SBA and other investment vehicles. The investments consist of the
following:
Investment Type Amount
State Board of Administration (SBA) 5,980,359
Certificate of Deposits (CDs) 568,286
US Government Treasury and Agency Bonds 4,014,587
Total Investments 10,563,232
The details of each investment types are presented on the following pages.
CITY OF SEBASTIAN
SCHEDULE OF INVESTMENTS
12/31/2010
STATE BOARD OF ADMINISTRATION
CURRENT
INVESTMENT ALLOCATION PERCENT BALANCE
General Fund Performance Deposits 51.71% 3,092,659.05
Local Option Gas Tax Fund 6.98% 417,713.07
Discretionary Sales Tax Fund 4.97% 297,193.56
Riverfront Redevelopment Fund 4.62% 276,577.83
Recreation Impact Fee Fund 4.20% 251,077.93
Stormwater Utility Fund 12.76% 763,202.55
Law Enforcement Forfeiture Fund 0.82% 48,803.33
Stormwater Projects Fund 0.99% 59,056.10
Building Department Fund 7.17% 428,695.99
Cemetery Trust Fund 5.78% 345,379.71
Sub -Total
cashsba1231
3/7/2011
100% 5,980,359.12
cashsba1231
3/7/2011
INSTITUTION
PNC Bank
TOTAL
CITY OF SEBASTIAN
SCHEDULE OF INVESTMENTS
12/31/2010
CERTIFICATES OF DEPOSIT
568,286.15
CURRENT
INVESTMENT ALLOCATION PERCENT BALANCE
General Fund 100.00% 568,286.15
TOTAL 568,286.15
DATE OF PRINCIPAL MATURITY
PURCHASE BALANCE YIELD DATE
12/15/09 568,286.15 2.956% 06/15/11
YIELD TO
ASSET NAME MATURITY
U.S. Treasury Note 0.5082%
U.S. Treasury Note 0.4315%
FNMA Note 0.5840%
FHLMC Note 0.6578%
TOTAL
INVESTMENT ALLOCATION BETWEEN FUNDS:
General
Discretionary Sales Tax
DST Bond Reserve Account
Riverfront Community Redevelopment Agency
Recreation Impact Fee
Cemetery Trust
cashsba1231
SCHEDULE OF INVESTMENTS
12/31/2010
CUSTODIAL ACCOUNT
DATE OF
PURCHASE
11/30/10
12/08/10
12/08/10
12/08/10
PURCHASE
PRICE
997,460.94
1,004,852.34
1,012,840.00
999,434.17
4,014,587.45
997,460.94
502,426.17
1,012,840.00
333,111.41
666,322.76
502,426.17
TOTAL 4,014,587.45
MATURITY
DATE
10/12/12
05/31/12
07/30/12
12/28/12
CUSIP
NUMBER
912828PD6
912828NE6
31398AT77
3137EACQO