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Home My WebLink AboutIII (C) First Quarter Financial Report AgendaTT 2-15-2000 "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" Its III CbMMISSIONER Ocoee S.SCOTT VANDERGRIFT 0 �.&(.50 CITY OF OCOEE COMMISSIONERS Cr DANNY HOWELL vl50 N. LAI:ESHORE DRIVE SCOTT ANDERSON �, OCOEE, FLORIDA 34761-2258 RUSTY JOHNSON `^y� (407)656-2322 NANCY J.PARKER CITY MANAGER ELLIS SHAPIRO MEMORANDUM TO: The Honorable Mayor and Board of City Commissioners FROM: Wanda B. Horton, Finance DirectoOli DATE: February 7, 2000 RE: Quarterly Financial Review, FirstQuarter FY00 Finance has completed its evaluation and analysis of the FY00 first quarter revenues and expenditures. The report will be on the February 15, 2000 consent agenda. Should you have any questions or want additional information, please give Donald Carter or me a call. POW .. ..........• ••• • •• .... 111 CITY OF OCOEE . . • . .. • .. . . . . . . . . . . . . : • : „.,...„,:::,,,„, :.,,,.„.„.:„„,•,.....•,:,..„:„.,„„,,:„:„.:„A„,,.:,:,,,,.:,...„,':;•4.1f.:.,;,;;:::,.::::..r:•••••,,,,:',-1.:,;:,...',..,,,,,....,:.;:l.::•?4,i.•;.f.-' • • QUARTERLY REPORT FIRST QUARTER „.• FISCAL YEAR ,,,,. Ii 1999200 ,. .. ..., ,,,„ .. .:„ .. .... .. : .. .......... .... „., ,,::., „„, ,..:,• ••..... 0 , ....,..i, ••••—,,,, •........,.....,..:: ..:, :—..x.... 1 El 4 ANY to fi N' "�\2 '?,.0,,, `- \ �. Rom`,`..., ;> v : y e " :.. 4. N ,,. :. ;p;< Finance :<; y.:.: • :. .Y ?`;?" :y>." Department February 2000 .10 A. TABLE OF CONTENTS Quarterly Overview General Fund 1-2 Revenue Comparison Graph 3 Revenue Analysis Report 4 Revenue Graphs 5-7 Residential Building Permit Graph 8 Commercial Building Permit Graph 9 Expenditure Comparison Graphs 10 Expenditures Analysis Report 11 Capital Purchase Report 12 Budget Transfers 13 Stormwater Fund .14 Revenue Analysis Report 15 Revenue Graph 16 Expenditure Comparison Graphs 17 Expenditure Analysis Report 18 Water/Waste Water Fund 19 Revenue Analysis Report '"0 Revenue Graph 21 '2 Expenditure Comparison Graphs Expenditure Analysis Report 23 Solid Waste Fund 24 Revenue Analysis Report 25 Revenue Graph 26 Expenditure Comparison Graphs 27 Expenditure Analysis Report 28 Supplemental Information 29 General Capital Projects 30 Transportation Projects 31 Stormwater Capital Improvements 32 Water/Wastewater Capital Improvements 33 Debt Statement 34 Investments 35-37 Road Impact Fee Status Report 38 Fire Impact Fee Status Report 39 Police Impact Fee Status Report 40 Recreational Impact Fee Status Report 41 MAYOR•COMMISSIONER Ocoee "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT Q� rzi i COMMISSIONERS �'y ° CITY O F OCOEE COMMISSIONERS HOWELL RJ r O SCOTT ANDERSON � p 150 N.LAKESHORE DRIVE RUSTY JOHNSON e, v OCOEE,FLORIDA 34761-2258 RUSNANTY J.PARKER '°1' ��4 (407)656-2322 EP OF GOOV�� CITY MANAGER — ELLIS SHAPIRO Quarterly Financial Report Fiscal Year 1999/2000 First Quarter The City of Ocoee is a municipal corporation of the State of Florida operating under a commission/manager form of government. A residential community, the city has a land area of approximately 20 square miles. Ocoee is home to approximately 22,746 residents ranking third in population of the cities in Orange County. Ocoee has ten parks and an 18-hole public golf course. Recreational facilities include a multi-purpose recreational complex, tennis courts, outdoor basketball courts, baseball fields and a football field. The City provides water and wastewater services, garbage collection, and police and fire protection to its residents. In 1987 Ocoee began a phenomenal growth pattern which continues today. To meet the increasing demands of travel within Ocoee city limits, the City built Clarke Road which begins at the East-West Expressway and State Road 50 and runs north to the City's current limits. Plans are underway for future expansion to lengthen the road to the city limits of Apopka. The City recently secured funding for the design, construction and improvements to Maguire Road, Professional Parkway and other roadways. Ad Valorem taxes are levied at the rate of 4 mils which has remained unchanged for more than ten years. The city currently employs 280 individuals. The Quarterly Financial Report presents the results of financial activity of the City for the preceding three months. This first quarter report summarizes the activity for the months of October 1999 through December 1999. Revenues and receipts are presented for the General, StormWater, Water/Wastewater, and Solid Waste funds. Actual receipts (revenues) and expenditures are compared to the adopted budget to assess potential overages/shortages in budgeted line items. Comparisons with figures for last fiscal year are included to indicate the differences by year in the adopted versus actual, since budgeting techniques remained relatively uniform from one fiscal year to the next. The Capital Projects Report, Debt Statement, Impact Fee Reports, and Investment Schedule are included as part of the Quarterly Financial Report. PoWF i Protect Ocoee's Water Resource's MAYOR•COMMISSIONER CEVTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT(/ Ocoe \\ ]� i COMMISSIONERS ��:� ° CITY OF OCOEE DANNY HOWELL Jr n SCOTT ANDERSON 150 N.LAKESHORE DRIVE o RUSTY JOHNSON �, OCOEE,FLORIDA 34761-2258 NANCY J.PARKER `"4- ,�? (407)656-2322 `�� F Gov`� CITY MANAGER ELLIS SHAPIRO Revenues are compared to expenditures in order to determine how daily operations may be affected by shifts in income-producing sources. This difference is important in cash flow management to ensure revenues are available for budgeted expenditures. Table 1 shows revenues currently exceed expenditures in all funds except Water/Wastewater. It is important to note that the cash carryforward for each of the funds has not been posted to the revenue accounts. This has customarily been done in the second quarter of the fiscal year. TABLE 1 Revenue vs. Expenditures by Fund Fund Revenues Expenditures General Fund $5,846,796 $3,986,286 StormWater Utility $258,786 $209,886 Water/Wastewater Utility $1 171,688 $1,204,205 Solid Waste Utility $387,996 $346,574 Expenditures are grouped into four categories: Personal Services, Operating Expenses, Capital Outlay, and Transfers Out. Funds are earmarked for expenditures either through the budget process, the Capital Improvements element of the Comprehensive Plan, bond indebtedness, impact fee restrictions, water deposit repayments, or loan restrictions. poWlni ii Protect Ocoee' Water Resourr;e:. GENERAL FUND MAYOR•COMMISSIONER Ocoee "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT i COMMISSIONERS ..e,,,_,. CITY OF OCOEE DANNYHOWELL p a SCOTT ANDERSON v 150 N. LAKESHORE DRIVE 0 RUSTY JOHNSON r, - OCOEE,FLORIDA 34761-2258 NANCY J.PARKER ``y '? (407)656-2322 lfP OF GpDD`�J CITY MANAGER ELLIS SHAPIRO General Fund The General Fund is the principal fund of the City. This fund accounts for all financial resources and related expenditures except those required to be accounted for in another fund. All general tax revenues and other receipts that are not allocated by law or contractual agreement to another fund are reported in this fund. Revenue Analysis The graph on page 3 provides a comparison of revenue receipts in dollars for first quarter fiscal years 1998/1999 and 1999/2000. Revenue receipts in dollars are liigher for the current year due to the increased budget from last year. Current year revenue receipts are detailed on page 4 and charted on pages 5-7. Overall, General Fund revenue receipts at the end of this quarter are 35% realized compared to 34.3% at the end of first quarter last year. Receipts for Property Taxes are $2,734,280 (79.6%) collected compared with $2,448,794 (76.9%) last year. Franchise Tax receipts consisting of revenues from electric, telephone, gas, and cable are below anticipated at 22.1% realized. Revenue for Utility Taxes ($490,441) overall is slightly below anticipated with 24.45% of budgeted realized. Licenses and Permits are significantly above anticipated primarily due to the receipt of Occupational Licenses, Electrical Permits, and Right of Way Utilization Permits. Building Permit revenue is above anticipated with 43 residential and 5 commercial building permits issued for first quarter FY2000 compared with 95 Residential and 0 Commercial for FY1999. Three years of building permit activity are graphed on pages 8-9. Intergovernmental Revenues are funds received from other governmental agencies. Receipts for first quarter FY2000 are below anticipated with 21.88% realized. Operating Revenue for Windermere Fire protection is due in two installments- February and May, with the capital charge due in October and March. The City entered into an interlocal agreement on May 19, 1998 with Orange County to provide fire protection to the County of a specified contract area. The agreement commenced on June 1, 1998 and ends on September 30, 2000. For the period June 1, 1998 through September 30, 1998 the City received base compensation of$100,000 from the County. Base compensation for fiscal years 1999 and 2000 is POWI. 1 MAYOR•COMMISSIONER OCOeA "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT Q� �\i° CITY OF OCOEE COMMISSIONERS DANNY HOWELL It; a SCOTT ANDERSON v O 150 N.LAKESHORE DRIVE RUSTY JOHNSON c, OCOEE,FLORIDA 34761-2258 NANCY J.PARKER `^y> (407)656-2322 e'Q OF G00v CITY MANAGER ELLIS SHAPIRO $300,000 annually. The annual payments are to be made in ten monthly installments beginning on December 1st of each fiscal year. The first payment has been received for this fiscal year. The COPS FAST Grant is a quarterly reimbursement grant. The first quarter reimbursement request of$63,471.83 has not been received. Revenue for Cigarette Tax ( 27%) is above anticipated while State Revenue-Cigarette Tax (23%), Half Cent Sales Tax (24%) and Local Option Gas Tax (23%) are just below anticipated. Other Governmental Revenue consists of the Local Law Enforcement Block Grant (LLEBG) and $50,000 Byrne Grant for computers in the police department. This revenue is 80% realized. The required 25% match for the Byrne Grant is reflected in the department expenditures. Charges for Services consisting of zoning, annexation, development review, program activity and sale of maps and publication fees are 23.7% realized. Fines and Forfeitures (29%) and False Alarm Fees (35%) are above anticipated. Miscellaneous Revenue is 20.5% realized consisting of returned check charges, special street lighting fees, and administrative fees for police security. The re-budget revenue is designated for a) a laptop computer in the Fire department, b) an above ground lift in the Fleet Maintenance department, and c) netting at Sorenson Field in the Recreation Department. This revenue will be posted in the second quarter with the cash carryforward. Interest earnings are 25% realized. Transfers in are slightly above anticipated with 26% realized. Expenditure Analysis Page 10 contains pie charts indicating the composition of expenditures for first quarter 1998/1999 and 1999/2000 for the General Fund. The Budget versus Expenditure report (page 11) shows for each department the amount spent and percentage of the budget the amount represents for the quarter. The variation in the percentages represents the timing and types of expenditures for the departments, i.e.- dues, contracts and capital items. Capital Outlay expenditures for General Fund are detailed on page 12. Blanket purchase orders continue to be utilized to help expedite receipt of goods and services necessary for the day to day operations of the City. Budget transfers authorized by the City Commission from contingency appear on page 13 for the quarter. POWT% P: Orme\WMtr Remy , 2 CITY OF OCOEE FIRST QUARTER REVENUE COMPARISON $3,000,000 $2,500,000 k $2,000,000 $1,500,000 $1,000,000 $500,000 PROPERTY TAX FRANCHISE TAX UTILITY TAX LICENSE& INTER- CHARGES FOR FINES& MISCELLANEOUS TRANSFERS IN PERMITS GOVERNMENTAL SERVICES FORFEITURES REVENUE REVENUE ®Fiscal Year 98-99 ■Fiscal Year 99-00 3 CITY OF OCOEE REVENUE ANALYSIS REPORT GENERAL FUND FIRST QUARTER 1999-2000 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT FIRST QUARTER REALIZED BEGINNING CASH BALANCE $530,000 $0 0.00% PROPERTY TAXES 3,437,020 2,734,280 79.55% FRANCHISE TAXES 1,431,560 318,021 22.21% UTILITY TAXES 2,006,000 490,441 24.45% LICENSES AND PERMITS 1,085,100 412,822 38.04% INTERGOVERNMENTAL REVENUE 5,322,375 1,164,332 21.88% CHARGES FOR SERVICE 150,550 35,675 23.70% FINES AND FORFEITURES 155,500 43,911 28.24% MISCELLANEOUS REVENUE 212,400 43,615 20.53% TRANSFERS IN 2,305,460 603,699 26.19% GENERAL FUND TOTALS $16,635,965 $5,846,796 35.15% 4 Property Taxes Franchise Taxes First Quarter First Quarter 22.2% 20.4% ------ 79.6% 77.8% 79.6% of Property Tax Revenue has been received compared to 76.9% for Franchise Fees are being received first quarter last year. This increase is slightly below anticipated with 22.2% due to the timing of the disbursements realized. Last year's first quarter from Orange County Tax Appraiser's receipts were 24.6% of the budgeted office. amount. Utility Taxes Licenses and Permits First Quarter First Quarter 24.4% 38.0% 75.6% 62.0% Utility Taxes are being received 38.0% of the revenue from licenses slightly below anticipated with 24.4% and permits has been received. This realized. This is slightly down from is down from the 48.2% realized last the 25.8% received last year at this year in the first quarter. time. 5 Intergovernmental Revenue Charges for Services First Quarter First Quarter 2 % 23.7% 1 .9 76.3% 78.1% 21.9% of Intergovernmental Revenue has Charges for Services are being realized been received. This is up from the 16.2% slightly below anticipated with 23.7% received for the first quarter last year. This received compared with 21.8% is below anticipated primarily due to COP's received in the first quarter last year. Grant revenues not being received yet. Fines and Forfeitures Miscellaneous Revenue First Quarter First Quarter 28.2% 20.5% • 71 .8% 79.5% Fines and Forfeitures are above anticipated with 28.2% received. This 20.5% of Miscellaneous Revenues have is down from 34.8% collected in first been received. quarter last year. 6 Fund Transfers First Quarter 26.2% 73.8% Fund Transfers are made on a monthly basis and are as expected. 7 CITY OF OCOEE COMMERCIAL BUILDING PERMIT ACTIVITY 5 W.__._..........._._...W...._....W..........w...._............._......._ W ...y_.._ r. 4.5 — 4 3.5 -- iff y 9 4 2 1.5 1.4 — 0.5 0 October November December January February March April May June July August September III Fiscal Year 97-98 ■Fiscal Year 98-99 ❑Fiscal Year 99-00 1 9 CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON GENERAL FU FY 98/99-FY99/0ND0 Fiscal Year 98-99 Fiscal Year 99/00 First Quarter Expenditures First Quarter Expenditures Transfers Out Transfers Out Capital Outlay 10.6% Capital Outlay 7 5% 6.3% 08% Y��u".S., r.s...: 0 s ,s `'t x 7`i 7 1'' �y� 'L� s 18 7 /o 7 . , N a 0 7 y,. � Operating ' '� C k .,s.".. r 4 b. r �r..t.. a� `3"�a m t`'° "' r - g. .at "S� x�.ir°�,N r r�. r'�:.c?�":+x.�tt,��}��,..X 2°,.1�. ,,,i':u � - .. .ram °.._ Expenses -�w 18.6% p Operating Personal Services 69.9% Expenses Personal Services 10 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT GENERAL FUND FIRST QUARTER 1999/2000 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 511-00 Legislative $170,495 $54,501 32% 512-00 City Manager 212,315 59,774 28% 512-01 Community Relations 155,870 37,644 24% 512-02 Information Systems 236,470 45,509 19% 512-10 City Clerk 294,790 60,555 21% 513-00 Finance Administration 458,631 108,331 24% 513-30 Human Resources 325,050 83,049 26°A) 514-00 Legal 285,000 41,812 15% 515-00 Planning 439,083 106,242 24°A) 516-00 General Government Services 2,226,862 499,970 22% 517-00 Public Works Administration 188,855 46,220 24% 519-00 Building Maintenance 307,424 79,907 26% 521-00 Law Enforcement 4,124,670 1,026,481 25% 522-00 Fire Control 3,067,845 805,331 26°A) 524-00 Protective Inspections 811,000 219,642 27% 529-00 Communications 507,330 127,875 25% 539-00 Cemetery 4,000 77 2°A) 541-10 Public Works-Traffic Operations 212,265 49,384 23% 541-20 Public Works-Street Maintenance 975,880 163,327 17% 541-30 Public Works-Park Maintenance 734,845 160,610 22% 541-40 Public Works-Fleet Maintenance 125,085 29,208 23% 546-00 Engineering 57,980 14,829 26% 572-00 Recreation 714,220 166,008 23% TOTAL GENERAL FUND $16,635,965 $3,986,286 24% 11 CITY OF OCOEE CAPITAL PURCHASES GENERAL FUND FIRST QUARTER 1999/2000 BUDGETED ACTUAL DEPARTMENT ITEM PURCHASED AMOUNT COST DIFFERENCE PLANNING (2) DESKTOP COMPUTERS $4,000.00 $2,802.00 $1,198.00 FACILITIES MAINTENANCE AIR COMPRESSOR $1,700.00 $1,689.00 $11.00 PROTECTIVE INSPECTIONS PORTABLE RADIO $1,500.00 $1,424.85 $75.15 PW-TRAFFIC OPERATIONS 7000 WATT GENERATOR $2,500.00 $2,119.90 $380.10 RECREATION NETTING-VIGNETTI FIELD $5,300.00 $5,300.00 $0.00 RECREATION TILE FLOOR-VIGNETTI CENTER* $5,300.00 $2,588.00 $2,712.00 RECREATION (2) DESKTOP COMPUTERS $4,000.00 $3,120.00 $880.00 PROJECT NOT COMPLETED 12 CITY OF OCOEE GENERAL FUND BUDGET TRANSFERS FISCAL YEAR 1999-2000 FIRST QUARTER DEPARTMENTAL ACCOUNT NUMBER ACCOUNT NUMBER AMOUNT OF BUDGET TRANSFER TRANSFERRED FROM TRANSFERRED TO TRANSFER EXPLANATION FINANCE 001-516-00-4900 001-513-00-4905 $5,300.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-WATER TAX FINANCE 001-516-00-4900 001-513-00-4906 $53,000.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-WATER FEES FINANCE 001-516-00-4900 001-513-00-4907 $66,816.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-SOLID WASTE PLANNING 001-516-00-4900 001-515-00-4700 $263.10 JPA AGREEMENT CONTINGENCY PRINTING AND BINDING GENERAL GOVERNMANT 001-516-00-4900 001-516-00-5224 $1,915.00 TELEPHONES FOR THE EOC CONTINGENCY DISASTER SUPPLIES FACILITIES MAINTENANCE 001-516-00-4900 001-519-00-6302 $14,000.00 INSTALL HOT WATER IN CITY CONTINGENCY CAPITAL IMPROVEMENTS HALL AND POLICE STATION FACILITIES MAINTENANCE 001-516-00-4900 001-519-00-6302 $6,654.50 CITY HALL AIR CONDITIONING CONTINGENCY CAPITAL IMPROVEMENTS REPAIRS PROTECTIVE INSPECTION 001-516-00-4900 001-524-00-5290 $5,035.00 RODENT CONTROL CONTINGENCY ANIMAL CONTROL EXPENSE 13 STORMWATER FUND MAYOR•COMMISSIONER "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT (-6coe CITY OF OCOEE COMMISSIONERS DANNYHOWELL JD a 150 N. LAKESHORE DRIVERUSTY J SCOTT ANDERSON rOCOEE,FLORIDA 34761-2258NANCY JOHNSON ARKER yf C-3j, (407)656-2322 e4, OF G GO CITY MANAGER ELLIS SHAPIRO StormWater Utility Fund The Stormwater Fund accounts for the stormwater utility fee revenues and the related expenditures for drainage, stormwater, and other related projects. Monthly fees are assessed at $5.00 per Equivalent Residential Unit (ERU). The Stormwater Fund is divided into two divisions- Utility Engineering and Utility Operations. The Utility Engineering division primarily accounts for expenditures related to the studies of the City's StormWater system. The Utility Operating division maintains over fifty retention and detention ponds This division is responsible for vegetation control in and around the ponds, swales and wet areas. This division repairs the pipes, inlets and fencing that surrounds these areas. Currently there are 4'/2 employees in this fund. As of December 31, 1999 there were 7880 Stormwater accounts compared to 7618 accounts at December 31, 1998 representing a 3% increase. Revenue Analysis Stormwater Fund revenues are 25.43% realized overall compared to 22.6% for first quarter last year. Charges for Services($257,125) are 25.4% realized compared with 24.6% for first quarter last year. Interest Earnings are above anticipated with 33.2%realized. Expenditure Analysis Expenditures for the Stormwater Fund are 20.62% overall. Transfers are made monthly for the debt service on the 1999 Capital Improvement Bond Issue. The annual debt service for this fiscal year is $210,490. Funds are also transferred to the Utility Inspections division to cover the cost of the Drainage Inspector. • POW ri 1 Plated Ocoee' Went: 4 CITY OF OCOEE REVENUE ANALYSIS STORMWATER UTILITY FUND FIRST QUARTER 1999-2000 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT FIRST QUARTER REALIZED CHARGES FOR SERVICES $1,012,800 $257,125 25.39% MISCELLANEOUS REVENUE 5,000 1,661 33.22% STORMWATER UTILITY FUND TOTALS $1,017,800 $258,786 25.43% 15 Stormwater Fund Revenues First Quarter 25.4% 06 ti. 74.6% Stormwater Fund Revenues are currently being received slightly above anticipated, with 25.4% realized. 16 CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON STORMWATER UTILITY FUND FY 98/99- FY 99/00 Fiscal Year 98-99 Fiscal Year 99-00 First Quarter Expenditures First Quarter Expenditures Transfers Out Transfers Out Personal Services 28.4% 54.0% 30.9% degaligifr> ...r x ,� x..ea;�,ns-Fff. • rux`' y`:�.,.;++ 40.1% .. S: .....---,O `°,�`, j(` ` ; Personal Services �• ''" `/ 9.2% '-‹ 15.0% Capital Outlay 22.2% Operating Operating Expenses Expenses 17 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT STORMWATER FUND FIRST QUARTER 1999/2000 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 538-10 Engineering/Inspections $605,040 $120,631 20% 538-20 Utility Operating 412,760 89,255 22% TOTAL STORMWATER FUND $1,017,800 $209,886 21% 18 WATER/WASTEWATER FUND MAYOR•COMMISSIONER OCOeA "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT ititii COMMISSIONERS CITY OF OCOEE DANNYHOWELL a 150 N. LAKESHORE DRIVE SCOTT ANDERSON RUSTYJOHNSON V OCOEE,FLORIDA 34761-2258 NANCY J.PARKER yj ,* (407)656-2322 f4 OF GOOD CITY MANAGER ELLIS SHAPIRO Water/Wastewater Utility Fund The Water/Wastewater fund is an enterprise fund. Operations of this fund are financed and managed in a manner similar to private business enterprise. This fund accounts for the operations of the City's water system, and wastewater collection and treatment plant. All activities necessary to provide these services are reported in this fund. As of December 31, 1999 there were 8419 and 4886 water and wastewater customers respectively compared to 7991 and 4625 accounts at December 31, 1998. This represents a 5.4% increase for Water and a 5.6% increase for Wastewater. Revenue Analysis Water/Wastewater Fund is 21.96% realized compared to 23.8% for first quarter last year. Water Utility Fees are 22% realized while Wastewater Utility Fees are 25% realized. Revenue and Maintenance Fees include annual and monthly billings for Water (74%) and Wastewater (32%). Receipts for Water Connection Fees and Other Water Charges (cut-off/cut-on activity and late fees) are 17% and 26% respectively. The re-budget funds are designated for a) the public relations campaign and water rate study, b) equipment in the Water Utilities division, and c) connection of the community center lift station in the Wastewater Utility division. Interest earnings are 20% realized. Transfers In reflects the funds from the Stormwater fund for expenditures related to inspections and the lease revenue from the General Fund for the site of the recreation facility. Expenditure Analysis Actual expenditures for the first quarter are 22.57% overall. The public relations campaign and water rate study are funded in professional services in the Administration division. An annual debt service payment of$526,700 for the 1997 Bond Issue is funded in the Water Operating and Wastewater Operating divisions. POW Peutect Qcaee' Water Resa;gces 19 CITY OF OCOEE REVENUE ANALYSIS REPORT WATER/WASTE WATER UTILITY FUND FIRST QUARTER 1999-2000 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT FIRST QUARTER REALIZED BEGINNING CASH BALANCE $475,000 $0 0.00% TAXES 193,465 43,010 22.23% CHARGES FOR SERVICES 4,386,000 1,100,197 25.08% MISCELLANEOUS REVENUE 171,815 13,967 8.13% TRANSFERS IN 110,040 14,514 13.19% WATER UTILITY FUND TOTALS $5,336,320 $1,171,688 21.96% 20 Water/Wastewater Fund Revenues First Quarter 22.0% 78.0% Water and Wastewater revenues are being received slightly below anticipated. Both water fees and waste water fees collections reflect this with 22.0% and 24.6% respectfully realized. 21 CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON WATER/WASTEWATER UTILITY FUND FY 98/99-FY 99/00 Fiscal Year 98-99 Fiscal Year 99-00 First Quarter Expenditures First Quarter Expenditures 37.3% Personal Services Transfers Out 31.4% Transfers Out ko-,,i:a''' 'sl l-;-'4.p7111.1-11111-1111,11 11111 k-10 00r,/5'k'. 36.6% d z r,-,,-.-v N" t' `' �= � � Personal Services . 3 ,<. r , '< p 3.9% 22.2% 25.5% Capital Outlay Operating Operating Expenses Expenses 22 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT WATER/WASTEWATER FUND FIRST QUARTER 1999/2000 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 531-00 WaterWastewater Administration $874,510 $201,026 23% 533-00 Water Operating 2,460,285 546,857 22% 535-00 Wastewater Operating 1 ,757,900 408,809 23% 537-00 Utility Inspections 243,625 47,513 20% TOTAL WATER/WASTEWATER FUND $5,336,320 $1,204,205 23% 23 SOLID WASTE FUND MAYOR•COMMISSIONER Ocoee "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT (6coe � COMMISSIONERS '�`�° CITY O F O C O E E DANNY HOWELL a 150 N. LAKESHORE DRIVE SCOTT ANDERSON RUSTY JOHNSON �� OCOEE,FLORIDA 34761-2258 NANCY J.PARKER yr ,�� (407)656-2322 fe OF GOOD�� CITY MANAGER ELLIS SHAPIRO Solid Waste Fund The Solid Waste fund is an enterprise fund. Operations of this fund are financed and managed in a manner similar to private business enterprise. This fund accounts for the collection of commercial and residential garbage which is disposed of at a landfill. All activities necessary to provide such service are accounted for in this fund. The city contracts out the collection of commercial and yard waste refuse. There were 7700 solid waste residential accounts at December 31, 1999 compared with 7454 accounts at December 31, 1998 representing a 3.5% increase. Revenue Analysis Solid Waste Fund revenues are 24% compared to 23.1% for first quarter last year. Solid Waste Fees ($351,983) are 24% realized which is slightly below anticipated. Franchise Fee revenues are 25% realized while Interest earnings exceed expected with 29% realized. Expenditure Analysis Expenditures for the first quarter are 21.7% of budgeted. Principal and interest payments for garbage trucks, a pick up truck, and a recycle truck are budgeted in this fund. PoW1 PlOtec:DellEE 4Ya::r Rraoa ces 24 CITY OF OCOEE REVENUE ANALYSIS REPORT SOLID WASTE UTILITY FUND FIRST QUARTER 1999-2000 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT FIRST QUARTER REALIZED FRANCHISE FEES $120,000 $30,067 25.1% INTER GOVERNMENT SERVICES 5,000 656 13.1% CHARGES FOR SERVICES 1,450,000 352,008 24.3% MISCELLANEOUS REVENUE 18,000 5,265 29.3% TRANSFERS IN 5,000 0 0.0% SOLID WASTE FUND TOTALS $1,598,000 $387,996 24.3% 25 Solid Waste Fund Revenues First Quarter 24.2% • 75.8% Solid Waste revenues are being received slightly below anticipated. 24.2% of solid waste fees have been collected compared to 24.7% for first quarter last year. 26 CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON SOLID WASTE UTILITY FUND FY 98/99 - FY 99/00 Fiscal Year 98-99 Fiscal Year 99-00 First Quarter Expenditures First Quarter Expenditures Transfers Out Transfers Out 15.5% 13.8% 38.5% a �� Personal Services ,.;� 38.3% 6.8% 3 , � d. ' ' ' h Personal Services Capital Outlay ° r''' ,= k 3„rr ................. s w 4Yz w e 9x 47.8% Operating 39.2% Operating Expenses Expenses 27 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT SOLID WASTE FUND FIRST QUARTER 1999/2000 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 534-10 Solid Waste-Residential $1,108,620 $236,030 21% 534-20 Solid Waste-Recycling 296,380 79,715 27% 534-30 Solid Waste-Yard Waste 193,000 30,829 16% TOTAL SOLID WASTE UTILITY FUND $1,598,000 $346,574 22% 28 SUPPLEMENTAL INFORMATION MAYOR•COMMISSIONER Ocoee "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTT VANDERGRIFT • COMMISSIONERS CITY OF OCOEE DANNY HOWELL a I 150 N. LAKESHORE DRIVE SCOTT ANDERSON v p r� �� OCOEE,FLORIDA 34761-2258 RUSTY JOHNSON yr y� (407)656-2322 NANCY J.PARKER f,P OF G OOP`` CITY MANAGER ELLIS SHAPIRO Supplemental Information Capital projects financed through bond issues are tracked by phase and expenditures; these have been listed on pages 30-33. The Debt Statement (page 34) details outstanding obligations of the City used to finance these projects and the source of security for the debt. Currently, the City has $50,625,000 in outstanding debt. The investment portfolio which contained $31,507,776 at December 31, 1999 is detailed on pages 35-37. Funds invested with Merrill Lynch and Raymond James are primarily in mutual funds. Funds invested with SunTrust consist of government backed notes. All investments are in accordance with the City's adopted investment policy. Funds necessary for operations are taken from the investments in a timely manner. Impact Fee activity is detailed on pages 38-41 for Road, Fire, Police, and Recreation. Debt Service is currently paid out of road impact fees (Clarke Road and the 1998 Transportation Bond Issue), police impact fees (police building-current/future), fire impact fees (fire stations), and recreation impact fees (recreation facility). Powlni Psctect Ocoee Water Res° -if::; 29 CITY OF OCOEE GENERAL CAPITAL PROJECTS FIRST QUARTER FY 1999-2000 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 12-31-99 USED INACTIVE COMPLETION PUBLIC WORKS FACILITY $2,139,776 $1,568,376 73.3% ACTIVE 98-2000 FIRE STATION #1 $1,000,000 $3,249 0.3% ACTIVE 99-2001 POLICE STATION $1,000,000 $2,631 0.3% ACTIVE 99-2001 BEECH MULTIPURPOSE FACILITY PHASE 2 $1,100,000 $84 0.0% ACTIVE 99-2000 PARK LAND-SOUTH $550,000 $475,553 86.5% ACTIVE 99-2000 30 CITY OF OCOEE TRANSPORTATION CAPITAL PROJECTS FIRST QUARTER FY 1999-2000 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 12-31-99 USED INACTIVE COMPLETION MAGUIRE ROAD - PHASE 1 $5,071,000 $669,422 13.2% ACTIVE 97-2000 MAGUIRE ROAD - PHASE 2 $2,740,727 $332,120 12.1% ACTIVE 98-2000 MAGUIRE ROAD - PHASE 3 $1,438,299 $216,936 15.1% ACTIVE 98-2000 MAINE STREET PROJECT $2,250,000 $30,446 1.4% ACTIVE 98-2000 PROFESSIONAL PKWY PROJECT $4,474,852 $89,792 2.0% ACTIVE 98-2000 WHITE RD/ORLANDO AVE PROJECT $500,000 $351,406 70.3% ACTIVE 98-2000 WURST ROAD PROJECT $600,000 $181 0.0% ACTIVE 99-2000 A.D. MIMS ROAD PROJECT $700,000 $181 0.0% ACTIVE 99-2000 MAGUIRE ROAD - PHASE 4 $1,411,602 $129,586 9.2% ACTIVE 99-2000 MAGUIRE ROAD - PHASE 5 $33,888 $22,507 66.4% ACTIVE 99-2000 31 CITY OF OCOEE STORMWATER CAPITAL PROJECTS THIRD QUARTER FY 1998-99 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 12-31-99 USED INACTIVE COMPLETION PIONEER KEY I S66,566 $14,090 21.2% ACTIVE 97-00 BLUFORD AVE/ORLANDO AVE INTERSECTION $59,139 $18,001 30.4% ACTIVE 97-00 FRANKLIN ST AREA $46,006 $17,825 38.7% ACTIVE 97-00 GROUP 4 PROJECTS $783,097 $45,272 5.8% ACTIVE 97-01 32 CITY OF OCOEE WATER/WASTEWATER CAPITAL PROJECTS FIRST QUARTER FY 1999-2000 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 12-31-99 USED INACTIVE COMPLETION WATER DISTRIBUTIONSYSTEM (PHASES I, II, III) $4,977,183 $2,890,095 58.1% ACTIVE 97-2000 REUSE WATER PROGRAM $3,857,000 $2,321,194 60.2% ACTIVE 97-2000 EFFLUENT DISPOSAL SYSTEM $432,400 $194,837 45.1% ACTIVE 98-2000 MAINTENANCE FACILITY $500,000 $44,364 8.9% ACTIVE 98-2000 REUSE RETROFIT PROGRAM $1,050,000 $109,895 10.5% INACTIVE 99-2000 MISCELLANEOUS WTP PROJECTS $320,000 $17,760 5.6% ACTIVE 98-2000 33 CITY OF OCOEE DEBT STATEMENT AS OF DECEMBER 31 , 1999 General General Fund Utility Fund Source Obligation Revenue Revenue of Direct City Debt Debt Debt Debt Security Transportation Refunding and Local Option Gas Tax and Improvement Revenue Bonds, Public Service Taxes Series 1990 due 10/1/2015 $1,490,000 Stormwater Utility Bonds, Series 1996 $ 1,905,000 Stormwater Utility Fees Capital Improvement Revenue Bond Covenant to budget and Series 1999, due 10/01/2028 11,255,000 appropriate annually from non-ad valorem revenues and impact fees Transportation Refunding and Local Option Gas Tax and Improvement Revenue Bonds, Public Service Taxes Series 1998, due 10/01/2017 19,105,000 Water and Sewer System Refunding Net Revenues and Impact and Improvement Bonds, Series Fees 1993 due 10/1/2017 7,175,000 Water and Sewer System Improvement Net Revenues and Impact Revenue Bonds, Series 1997 Fees due 10/1/2027 9,695,000 Total Direct Debt $ -0- $ 31,850,000 $ 18,775,000 34 CITY OF OCOEE INVESTMENTS AS OF DECEMBER 31 , 1999 INVESTED WITH FUND ACCOUNT RATE MATURITY AMOUNT NUMBER DATE MERRILL LYNCH 001 -GENERAL FUND 762-04471 6.42 - $268,962.27 MERRILL LYNCH 103-STORMWATER UTILITY 762-04471 6.42 - $48,379.50 MERRILL LYNCH 106-ROAD IMPACT 762-04461 6.42 - $299,812.00 MERRILL LYNCH 106-ROAD IMPACT 762-04471 6.42 - $400,000.00 MERRILL LYNCH 106-ROAD IMPACT 762-04462 6.42 - $2,403,663.75 MERRILL LYNCH 107-FIRE IMPACT 762-04462 6.42 - $601,886.75 MERRILL LYNCH 107-FIRE IMPACT 762-04471 6.42 - $435,752.73 MERRILL LYNCH 108-POLICE IMPACT 762-04471 6.42 - $72,738.38 MERRILL LYNCH 110-RECREATION IMPACT 762-04462 6.42 - $293,650.86 MERRILL LYNCH 302-CAPITAL IMPROVEMENTS BOND 762-04471 6.42 - $2,161,755.46 MERRILL LYNCH 312-STORMWATER IMPROVEMENT 762-04471 6.42 - $150,000.00 MERRILL LYNCH 401 -WATER 0&M 762-04462 6.42 - $66,316.26 MERRILL LYNCH 401 -WATER 0&M 762-04471 6.42 - $598,007.53 MERRILL LYNCH 401 -WATER O&M 762-04A31 6.42 - $181,083.00 MERRILL LYNCH 402-SOLID WASTE UTILITY 762-04471 6.42 - $46,349.48 MERRILL LYNCH 404-WATER IMPROVEMENT 762-04462 6.42 - $130,404.89 MERRILL LYNCH 405-WASTE WATER CAPITAL FUND 762-04471 6.42 - $290,276.24 MERRILL LYNCH 406-WATER DEBT SERVICE 762-04A30 6.42 - $62,001.55 MERRILL LYNCH 407-WASTEWATER R&R 762-04471 6.42 - $610,691.62 MERRILL LYNCH 410-WATER R&R 762-04471 6.42 - $307,870.79 MERRILL LYNCH 410-WATER R&R 762-04462 6.42 - $335,786.49 MERRILL LYNCH 412-WATERNVASTEWATER BOND 762-04A30 6.42 - $616,352.45 TOTAL $10,381,742.00 35 CITY OF OCOEE INVESTMENTS AS OF DECEMBER 31 , 1999 INVESTED WITH FUND ACCOUNT RATE MATURITY AMOUNT NUMBER DATE RAYMOND JAMES 001 -GENERAL FUND 10041873 6.00 - $223,852.28 RAYMOND JAMES 401 -WASTEWATER 10041873 6.00 - $55,271.60 RAYMOND JAMES 404-WATER CAPITAL FUND 10041873 6.00 - $70,083.54 RAYMOND JAMES 405-WASTEWATER CAPITAL FUND 10041873 6.00 - $341,687.39 TOTAL $690,894.81 SUNTRUST 001 -GENERAL FUND 4444 5.18 10/27/00 $297,656.40 SUNTRUST 001 -GENERAL FUND 4444 5.29 02/25/00 $300,838.74 SUNTRUST 001 -GENERAL FUND 4444 5.10 01/19/00 $300,000.00 SUNTRUST 106-ROAD IMPACT 4444 5.19 02/23/01 $587,245.00 SUNTRUST 106-ROAD IMPACT 4444 5.18 10/27/00 $446,484.60 SUNTRUST 106-ROAD IMPACT 4444 5.29 02/25/00 $334,666.26 SUNTRUST 106-ROAD IMPACT 4444 4.80 04/14/00 $348,253.27 SUNTRUST 106-ROAD IMPACT 4444 5.10 01/19/00 $300,000.00 SUNTRUST 204-STORMWATER DEBT SERVICE 4522 5.32 10/19/01 $207,545.51 SUNTRUST 301 -TRANSPORTATION BOND 4494 4.83 03/02/00 $1,953,600.00 SUNTRUST 301 -TRANSPORTATION BOND 4494 5.00 01/18/00 $246,050.00 SUNTRUST 301 -TRANSPORTATION BOND 4494 5.21 01/18/00 $5,413,100.00 SUNTRUST 301 -TRANSPORTATION BOND 4494 5.22 10/13/00 $1,489,687.50 SUNTRUST 301 -TRANSPORTATION BOND 4494 5.00 04/14/00 $996,875 00 SUNTRUST 302-CAPITAL IMPROVEMETS BOND 4444 5.12 11/24/00 $1,289,844.40 SUNTRUST 312-STORMWATER IMPROVEMENTS 4444 5.10 01/19/00 $75,000.00 SUNTRUST 315-CAPITAL PROJECTS 4444 5.27 01/12/01 $396,472.40 SUNTRUST 401 -WATER 0&M 4444 5.10 01/19/00 $100,000.00 SUNTRUST 402-SOLID WASTE 4444 5.10 01/19/00 $50,000.00 SUNTRUST 404-WATER CAPITAL 4444 5.10 01/19/00 $50,000 00 36 CITY OF OCOEE INVESTMENTS AS OF DECEMBER 31 , 1999 INVESTED WITH FUND ACCOUNT RATE MATURITY AMOUNT NUMBER DATE SUNTRUST 405-WATER/WASTEWATER CAPITAL 4444 5.19 02/23/01 $200,909.00 SUNTRUST 405-WATER/WASTEWATER CAPITAL 4444 4.80 04/14/00 $149,251.40 SUNTRUST 405-WATER/WASTEWATER CAPITAL 4444 5.10 01/19/00 $50,000.00 SUNTRUST 407-WASTEWATER R&R 4444 5.19 02/23/01 $200,909.00 SUNTRUST 407-WASTEWATER R&R 4444 4.80 04/14/00 $124,376.17 SUNTRUST 407-WASTEWATER R&R 4444 5 10 01/19/00 $62,160.83 SUNTRUST 410-WATER R&R 4444 4.80 04/14/00 $100,853.54 SUNTRUST 412-WATER/WASTEWATER BOND 4494 5.00 01/18/00 $246,050.00 SUNTRUST 412-WATER/WASTEWATER BOND 4624 5.30 02/10/00 $1,177,390.00 SUNTRUST 412-WATER/WASTEWATER BOND 4624 5.29 02/25/00 $489,537.22 SUNTRUST 412-WATER/WASTEWATER BOND 4624 5.19 03/17/00 $488,315.81 SUNTRUST 412-WATER/WASTEWATER BOND 4624 5.49 04/17/00 $981,675.56 SUNTRUST 412-WATER/WASTEWATER BOND 4624 4.83 03/02/00 $980,391.65 TOTAL $20,435,139.26 GRAND TOTAL $31,507,776.07 37 CITY OF OCOEE IMPACT FEE STATUS REPORT FIRST QUARTER - FISCAL YEAR 1999-2000 ROAD IMPACT FEES - FUND 106 BALANCE FORWARD $5,666,897 CURRENT QUARTER REVENUE $67,614 CURRENT QUARTER EXPENDITURE ($328,397) ENCUMBERED $0 INTEREST EARNED $24,549 ENDING BALANCE AT 12/31/99 $5,430,663 38 CITY OF OCOEE IMPACT FEE STATUS REPORT FIRST QUARTER-FISCAL YEAR 1999-2000 FIRE IMPACT FEES - FUND 107 DISTRICT 1 DISTRICT 2 DISTRICT 3 DISTRICT 4 RESTRICTED BALANCE FORWARD $477,517 $11,660 $507,012 $710,426 $33,925 CURRENT QUARTER REVENUE RESIDENTIAL $2,866 $0 $6,067 $40,640 $0 NON RESIDENTIAL $0 $0 $2,714 $1,078 $0 TOTAL CURRENT QUARTER REVENUE $2,866 $0 $8,781 $41,718 $0 CURRENT QUARTER EXPENDITURE RESIDENTIAL ($99,493) ($12) ($85,973) ($89,726) $0 NON RESIDENTIAL $0 $0 $0 $0 $0 TOTAL CURRENT QUARTER EXPENDITURE ($99,493) ($12) ($85,973) ($89,726) $0 ENCUMBERED ($1,497) ($36) ($1,590) ($2,897) $0 INTEREST EARNED $1,948 $48 $2,069 $2,899 $138 ENDING BALANCE AT 12/31/99 $381,341 $11,660 $430,299 $662,420 $34,063 ** Restricted funds are comprised of Windermere R & R 39 CITY OF OCOEE IMPACT FEE STATUS REPORT FIRST QUARTER - FISCAL YEAR 1999-2000 POLICE IMPACT FEES - FUND 108 BALANCE FORWARD $260,760 CURRENT QUARTER REVENUE RESIDENTIAL $14,842 NON RESIDENTIAL $291 TOTAL CURRENT QUARTER REVENUE $15,133 CURRENT QUARTER EXPENDITURE ($23,137) ENCUMBERED $0 INTEREST EARNED $2,343 ENDING BALANCE AT 12/31/99 $255,099 40