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HomeMy WebLinkAboutIII (B) Approval and Acceptance of the Third Quarter Financial Report Agenda 9-04-2001 Item III B 'CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" MAYOR•COMMIIlIOYFH S.SCOTT VANDERGRIFT OcoCO CITY OF OCOEE DANNY OMMry=logs HOWELL OQ150 LAKESHORE DRIVE SCOTT ANDERSON t"a - N. OCOEE,PIARIDA34761-225N RUSTY JOiNSON NANCY J.PARKER F= +e O (407)905-3100 Qry M,wnGER rfti � ' JIM GLEASON f MEMORANDUM TO: The Honorable Mayor and Board of City Commissioners FROM: Wanda B. Horton, Finance DirectorJd--" DATE: August 23,2001 RE: Quarterly Financial Review, Third Quarter FY01 Finance has completed its evaluation and analysis of the FY01 third quarter revenues and expenditures. The report will be on the September 4, 2001 consent agenda. Should you have any questions or want additional information, please give Donald Carter or me a call. POVIlt P.oleo Ouocci Wuler Pesourve3 rir CITY OF OCOEE QUARTERLY REPORT THIRD QUARTER FISCAL YEAR 2000-2001 Prepared by the Finance Department August 2001 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 13 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 20 Revenue Graph 21 Expenditure Comparison Graphs 22 Expenditure Analysis Report 23 Solid Waste Fund 24 Revenue Analysis Report 75 Revenue Graph 26 Expenditure Comparison Graphs 27 Expenditure Analysis Report 28 Supplemental Information 79 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 MA OR•COvIAIISSIONEK Ocoee '(lAIGk of (i(NIL'LI1'MG-PRIDE(11 IV lS r OR. I S SCOTT V,AI�DERGRIi'I' o © o „ , _ CITY OF OCOEE »nanoNEL 2 15UA LARISHolth NIG ' SCOrI A1UER.SON D RI SIY JOHNSON r, OToPL I I a347612255 bt V� AU] r5(_.y_ NANCY1 PARKER �4OF GOO�8 [ M1lwoeu JAMES GLE ASON Quarterly Financial Report Fiscal Year 2000/2001 Third 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 23,531 residents ranking third in population of the cities in Orange County. Ocoee has numerous lakes, recreational opportunities 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 further north. Clarke Road has spawned the development of many residential neighborhoods , neighborhood commercial centers, and the West Oaks Mall, Additionally, Maguire Road is being expanded to four lanes in the southern portion of the community to open up further land development. The City recently secured funding for the design, construction and improvements to Maguire Road, Professional Parkway and other roadways. Ad Valorem taxes arc levied at the rate of 4.74 arils which was changed this fiscal year after remaining unchanged at 4 mils for more than ten years. The city currently employs 309 individuals. With such continuing economic growth, the financial position of the City remains sound. The Quarterly Financial Report presents the results of financial activity of the City for the preceding three months. This third quarter report summarizes the activity for the months of April 2001 through June 2001.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 POW! CuSISINS CITY OF OCOEE DANNY OWE L Ocoee "C i1IIR )f t')uD II I1M IRUDI 01 Itls r uHih Gt RGRIFr ( l 1VJER50,A LG] I usH ae DRili yyy O ll ST1 J )HNSOS O �V OcuL.P JFl peal a. rGl-'9JK ♦AACYI PARKER 9j� Si cr 11•���zr Of G000 1 AME3 GLE A>GA funds. It is important to note that the cash car ylorward for each of the funds has been posted to the revenue accounts. which is customarily done in the second quarter of each fiscal year. TABLE I Revenue vs. Expenditures by Fund Fund Revenues Expenditures General Fund S14,929,136 S12,957,478 StormWater Utility $833,715 5673,057 Water/Wastewater Cti l ity 54,117,057 53.693,426 Solid Waste Utility $1,325,108 S1,124,981 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. Revenues and expenditures 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 the 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 POWT 0 rt rri ij z d MAYOR•Cwu1:YSIuN:C Ocoee Z I V hk(IF GOOD HMG-PRIDE OF WEST S SCOTT VANDERGRIEl O� �. a ° CITY OF OCOEE u.riaa�COMMISSIONERS `�,_ O. SCOTT AADERSON 0 150N LnlscoR5 Dun r: ocoLE Floturm34761"5a Rl Sr1 lO11N50p del- ��b (10716M B'_'_ V SM1CI I PARKER ��OF G000�A Cr)aLvNnOE LAMES GLEASOS 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 Overall, revenue receipts for the General Fund were slightly higher than anticipated at the end of the third quarter. The graph on page 3 provides a comparison of revenue receipts in dollars for third quarter fiscal years 1999/2000 and 2000/2001. General Fund revenue receipts at the end of this quarter are 79.06% realized compared to 78.97% at the end of third quarter last year. Revenue receipts in dollars are higher for the current year due to the increased budget from last year. Current year revenue receipts arc detailed on page 4 and charted on pages 5-7. Receipts for Property Taxes are S4,270,149 (96.577e) collected compared with $3,310,793 (96.33%) last year. Franchise Tax receipts consisting of revenues from electric, telephone, gas, and cable are slightly below anticipated at 72% realized. Revenue for Utility Taxes ($1,480,979) is slightly below anticipated with 70.89% of budget realized. Licenses and Permits are slightly below anticipated, with 73.60% realized. Building Permit revenue is below anticipated with 70 residential and 2 commercial building permits issued for third quarter FY200I compared with 65 Residential and 2 Commercial for FY2000. Three years of building permit activity arc graphed on pages 8-9. Intergovernmental Revenues are funds received from other governmental agencies. Receipts for third quarter FY2001 are below anticipated with 69.91% 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 original agreement commenced on June I, 1998 and ended on September 30, 2000. The City agreed to an extension of the contract for fiscal year 2001. For the period October 1.2000 through October I.2001 the City will receive base compensation POWt 1 VI. ox•CoA.A. oalH Ocoee G e!lRUP GOOD lit ih0-VRID1 01 a/ t v/K:NOL S SCOTT NAP DERGRIFr 0. ti H a.N;i. q CITY OF OCOEE DANNY ttON ELL a SCOTT AvUFRSON su] L xi su no Den i. yyy O R ST1 NDEROA V Oc urr,R ell t91"i6 -'_'_S6 NANC11 PARKER Yr 4. ICU ( 6 AL'' FP J ui NIN .ace OF GGG� IAM1IEti VLFASO,A of S 120.000 from the County. The COPS FAST Grant is a quarterly reimbursement grant. The third quarter reimbursement request of S96,478 his not been reached. Res enue for CI ealcue Tel. State Res enue-Cigarette Tax, and State Revenue-Gas Tax were consolidated into one revenue source by the State this year. The wuree Is now titled Municipal Revenue Sharing. This revenue is 652 realized after three quarters. Half Cent Sales Tax (75%) is as anticipated. Other Go'ernnten tat Rescnuc consists of the Local Law Enforcement Block Grant t LLFBG) of S34.000. a S50.000 Byrne Grant for equipment in the police department, a S I50,000 state grant for the south park, and a grant from Time Warner of S20.000 for television equipment. This revenue is 46C realized- The required 25h match for the B vane Grant is reflected in police department expenditures. Charges for Services consisting oP zoning, annexation, development review, program activity and sale of maps and publication fees are 56.54 realized False Alarm byes i 166ii I are above anticipated. Miscellaneous Revenue is II lb( realized consisting of returned check charges. special street lighting fees, and adminlsnatlye fees for police security. The re-budget revenue is designated for a) television booth in the commission chambers Lit replacing the scats is the commission chamber, and c) two flail mowers in the Street Maintenance Department. Interest earnings are I42rf realized. Transfers in are as anticipated vkith 75% realized. Expenditure A nalrsic Page 10 contains pie charts indicating the composition of expenditures for third quarter 1999/2000 and 2000/2001 for the General Fund- The Budget versus Expenditure report (page I I) 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 liming 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 Dods and sec vies necessary for the dip to day operations of the City. Budget transfers authorized by the City Commission from contingency appear on page 13 for the quartet POWI 2 CITY OF OCOEE THIRD QUARTER REVENUE COMPARISON $a,soo,000 $a,00o,00a $3,500,000 $3,000,000 — $2,500,000 $2,000,000 $1,500,000 - -- - - __ $1,000,000 $500,000 1 $0 PROPERTY TAX FRANCHISE TAX UTILITY TAX LICENSE INTER. CHARGES FOR FINES E. MISCELLANEOUS TRANSFERS IN PERMITS GOVERNMENTAL SERVICES FORFEITURES REVENUE REVENUE Lsc scal Year 99-00 •Fiscal Year 00-01 3 CITY OF OCOEE REVENUE ANALYSIS REPORT GENERAL FUND THIRD QUARTER 2000-2001 REVENUE BUDGET RECEIVER . PERDEMAGE DESCRIPTION AMOUNT THIRD QUARTER REALIZED BEGINNING CASH BALANCE $564,320 $564,320 100.00% PROPERTY TAXES 4,421,700 4,270,149 96.57% FRANCHISE TAXES 1,537,895 1,107,261 72.00% UTILITY TAXES 2,089,130 1,480,979 70.89% LICENSES AND PERMITS 1,158,200 852,399 73.60% INTERGOVERNMENTAL REVENUE 5,888,695 4,116,576 69.91% CHARGES FOR SERVICE 173,850 98,787 56.82% FINES AND FORFEITURES 189,500 116,383 61.42% MISCELLANEOUS REVENUE 306,109 403,898 131.95% TRANSFERS IN 2,553,470 1,918,384 75.13% GENERAL FUND TOTALS $18,882,869 $14,929,136 79.06% 4 Property Taxes Franchise Taxes Third Quarter Third Quarter 3.4% 28.0% 96.6% 72.0% 96.6% of Property Tax Revenue has been received compared to 96.3% for Franchise Fees are being received below anticipated with 72% realized. third quarter last year Last year's third quarter receipts were 62.8% of the budgeted amount. Utility Taxes Licenses and Permits Third Quarter Third Quarter 29.1% 26.4% 73.6% 70.9% Utility Taxes are being received 73.6% of the revenue from licenses below anticipated with 70.9% realized. and permits has been received. This This is slightly up from the 67.6% is below the 75.7% realized last year received last year at this time. in the third quarter. 5 Intergovernmental Revenue Charges for Services Third Quarter Third Quarter 30.1% 43.2% 56.8% 69.9% Charges for Services are being realized 69.9% of Intergovernmental Revenue has below anticipated with56.8% received been received. This is slightly below the compared with 76.2% received in the 73% received for the third quarter last year. third quarter last year. Fines and Forfeitures Miscellaneous Revenue Third Quarter Third Quarter o. °%° 38.6% 61 .4% 100.0% Fines and Forfeitures are below anticipated with 61.4% received. This Miscellaneous Revenues have been is down from 90.9% collected in third received in excess of budget as of the 6 quarter last year. end of the third quarter. Fund Transfers Third Quarter 24.9% 75.1% Fund Transfers are made on a monthly basis and are as expected. 7 CITY OF OCOEE RESIDENTIAL BUILDING PERMIT ACTIVITY 40 35 30 I 25 1 0 lii z z I E d 0 m E o a a' 2 O LL o N •Fiscal Year 98-99 ■Fiscal Year 99-00 0 Fiscal Year 00-01 8 CITY OF OCOEE COMMERCIAL BUILDING PERMIT ACTIVITY 5 4.5 4 _.. _ 3.5 3t 2.5 _ _ _ __ ___-2 1.5 0.5 0 October November December January February March April May June July August September ■Fiscal Year 98-99 ■Fiscal Year 99-00 ❑Fiscal Year 00-01 9 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON GENERAL FUND FY99/00-FY00/01 Fiscal Year 99-00 Fiscal Year 00-01 Third Quarter Expenditures Third Quarter Expenditures Transfers Out Capital Outlay Transfers Out Capital Outlay 10.4% 11 2/° 1.7/ ` Operating Operating Expenses Expenses 19.2°/ 18.4% Personal Services Personal Services 68.5% 69.5% 10 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT GENERAL FUND THIRD QUARTER 2000/2001 BUDGET EXPENSER=17 «r, PER; . - DEPARTMENT AMOUNT THIRD QUARTER USER 511-00 Legislative $156,871 $125,366 80% 512-00 City Manager 253,156 194,171 77% 512-02 Information Systems 319,100 234,623 74% 512-10 City Clerk 280,135 196,263 70% 513-00 Finance Administration 467,340 333,414 71% 513-30 Human Resources 422,965 299,245 71% 514-00 Legal 307,000 185,984 61% 515-00 Planning 521 ,475 358,287 69% 516-00 General Government Services 2,174,800 1,455,160 67% 517-00 Public Works Administration 207,725 145,419 70% 519-00 Building Maintenance 353,125 210,368 60% 521-00 Law Enforcement 4,983,415 3,485,686 70% 522-00 Fire Control 3,324,560 2,442,127 73% 524-00 Protective Inspections 860,265 624,470 73% 529-00 Communications 614,625 386,753 63% 539-00 Cemetery 5,601 4,892 87% 541-10 Public Works-Traffic Operations 182,525 121,272 66% 541-20 Public Works-Street Maintenance 1,095,951 727,425 66% 541-30 Public Works-Park Maintenance 793,215 504,527 64% 541-40 Public Works-Fleet Maintenance 118,800 88,117 74% 546-00 Engineering 70,590 50,614 72% 572-00 Recreation 1,042,020 527,352 51% 574-00 Community Relations 327,610 255,943 78% TOTAL GENERAL FUND $18,882,869 $12,957,478 69% 11 CITY OF OCOEE CAPITAL PURCHASE REPORT FISCAL YEAR 2000-2001 THIRD QUARTER DEPARTMENT ITEM PURCHASED BUDGETED ACTUAL DIFFERENCE AMOUNT COST FACILITIES MAINTENANCE PORTABLE RADIO $1,781.00 $1,781.00 $0.00 LAW ENFORCEMENT RADARS (2) $5,000.00 $4,374.00 $626.00 LAW ENFORCEMENT LATERAL FILE CABINETS (2) $5,000.00 $4,950.00 $50.00 LAW ENFORCEMENT-GRANT MOBILE RADIOS (5) $13,000.00 $12,560.00 $440.00 LAW ENFORCEMENT-GRANT PAGING SYSTEM $3,000.00 $1,850.40 $1,149.60 LAW ENFORCEMENT-GRANT IN-VEHICLE CAMERAS (2) $10,000.00 $7,790.00 $2,210.00 LAW ENFORCEMENT-GRANT LT QUICK MAP SYSTEM $7,000.00 $6,705.00 $295.00 P W PARKS PORTABLE RADIO $1,781.00 $1,781.00 $0.00 COMMUNITY RELATIONS CAMERA PACKAGE (2) $11,555.00 $11,551.98 $3.02 COMMUNITY RELATIONS VIDEO SWITCHER $9,170.00 $9,167.06 $2.94 COMMUNITY RELATIONS WAVEFORM/VECTOR SCOPE $7,545.00 $7,540.76 $4.24 COMMUNITY RELATIONS CHARACTER GENERATOR $5,020.00 $5,017.06 $2.94 COMMUNITY RELATIONS AUDIO MIXING BOARD $5,282.81 $5,273.26 $9.55 12 CITY OF OCOEE GENERAL FUND BUDGET TRANSFERS FISCAL YEAR 2000-2001 THIRD QUARTER DEPARTMENTAL ACCOUNT NUMBER ACCOUNT NUMBER AMOUNT OF "-:BUDGET TRANSFER TRANSFERRED FROM TRANSFERRED TO. . TRANSFER EXPLANATION CITY MANAGER 001-516-00.4900 001-512-00-1100 $17,903.60 CITY MANAGER BALANCE OF FY CONTINGENCY EXECUTIVE SALARIES CITY MANAGER 001-516-00-4900 001-512-00-2302 $75.00 CITY MANAGER BALANCE OF FY CONTINGENCY DENTAL/VISION INSURANCE CITY MANAGER 001-516-00-4900 001-512-00-2301 6125.00 CITY MANAGER BALANCE OF FY CONTINGENCY LIFE INSURANCE CITY MANAGER 001-516-00-4900 001-512-00-2100 $1,370.00 CITY MANAGER BALANCE OF FY CONTINGENCY FICA TAXES CITY MANAGER 001-516-00.4900 001-512-00-2303 $290.00 CITY MANAGER BALANCE OF FY CONTINGENCY ACCIDENT/DISABILITY INSURANCE CITY MANAGER 001-516-00-4900 001-512-00-2200 $2,182.00 CITY MANAGER BALANCE OF FY CONTINGENCY RETIREMENT CONTRIBUTION CITY MANAGER 001-516-00-4900 001-512-00-2300 $1,176.00 SHAPIRO BALANCE OF FY CONTINGENCY HEALTH INSURANCE LEGISLATIVE 001-516-00-4900 001-511-00-4000 $2,687.95 MAYOR TRAVEL CONTINGENCY TRAVEL EXPENSE 13 cA C 4 I ] Pri rri SIONER CLAE EH OE GOOD LIt1VU-PRIDE OE t[ Af OH:1NGL• NIA) ( ERGR OCoee S.SNTT VAN DERGRIFr �� '�'` �= CITY OF OCOEE DA�NNYHOCumm:ssiuWELL a scow AnoEasory O L50] LAKE SHORE: RI STY JOnN50Y tl O(OF6.FLORIDA A-J]6 -'_25% VgVCYI PARKER �'1'! a`� 6307)656-2322 1p OF G 0o0�S CID NI LE�u JAMES GLEASON 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 41/2 employees in this fund. As of June 30, 2001 there were 8756 Stormwater accounts compared to 8296 accounts at June 30, 2000 representing a 5.5% increase. Revenue Analysis Stormwater Fund revenues are 77.72% realized overall. Charges for Services ($815,744) represents a 4% increase in revenues from third quarter lust year. Interest Earnings are above anticipated with 294% realized. Expenditure Analysis Expenditures for the Stormwater Fund are 63% expended 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 $212,465. Funds are also transferred to the Utility Inspections division to cover the cost of the Drainage Inspector. • POWWWWWWWt 14 CITY OF OCOEE REVENUE ANALYSIS STORMWATER UTILITY FUND THIRD QUARTER 2000-2001 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT THIRD QUARTER REALIZED CHARGES FOR SERVICES $1,066,665 $815,744 76.48% MISCELLANEOUS REVENUE 6,110 17,971 294.12% STORMWATER UTILITY FUND TOTALS $1,072,775 $833,715 77.72% 15 Stormwater Fund Revenues Third Quarter 22.3% 77.7% Stormwater Fund Revenues are above anticipated, with 77.7% realized. 16 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON STORMWATER UTILITY FUND FY99/00 - FY00/01 Fiscal Year 99-00 Fiscal Year 00-01 Third Quarter Expenditures Third Quarter Expenditures Personal Services Personal Services Transfers Out 24.0% Transfers Out o 510% . 264 25% Operating Capital Outlay Operating Expenses 1 0% Expenses 24.0% 17 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT STORMWATER FUND THIRD QUARTER 2000/2001 BUDGET "' EXPENSED, BERGER, DEPARTMENT "; AMOUNT THIRD QUARTER USED 538-10 Engineering/Inspections $609,935 $383,917 63% 538-20 Utility Operating 462,840 289,140 62% TOTAL STORMWATER FUND $1,072,775 $673,057 63% 18 a m a y m Y rt Pt z d MA)OR•eVN DERGCR Co006 'fl VFH Ul'GOOD LII'INC-PRIDE Cif Itl S'I ORANGE' S.SCOTT V ATDERGRIFT �� •��°- CITY OF OCOEE DANNYHOWELL 2 SCOTT ANDERSON UOV LIAI unI'.DRIVE. O RUST) JOHNSON �, - Ocui L t DIRE t-3761 275N 5AVCV I PARKER e9 " , t4Cr]( ( __ of con 5i . . ._.. cez E A V ES GLEASON 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 activitiei, necessary to provide these services are reported in this fund. As of June 30, 2001 there were 9536 and 5450 water and wastewater customers respectively compared to 8754 and 5238 accounts at June 30, 2000. This represents a 8.9% increase for Water and a 4. 19c increase for Wastewater. Revenue Analysis Current year revenue receipts are detailed on page 20 and charted on page 21. Water/Wastewater Fund revenues are 80.659c realized compared to 76.95% for third quarter last year. Water Utility Fees are 75'J realized while Wastewater Utility Fees are 78% realized. Revenue and Maintenance Fees include annual and monthly billings for Water (10590 and Wastewater (201%). Receipts for Water Connection Fees and Other Water Charges (cut-off/cut-on activity and late fees) are 75% and 82% respectively. Interest earnings are 146%. 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 Page 22 contains pie charts indicating the composition of expenditures for third quarter 2000/2001. Actual expenditures for the third quarter are 72% overall. A portion of the annual debt service payment for the bond issue is funded in the Water Operating and Wastewater Operating divisions. POWr 19 CITY OF OCOEE REVENUE ANALYSIS REPORT WATER/WASTE WATER UTILITY FUND THIRD QUARTER 2000-2001 REVENUE BUDGET RECEIVED , PERCENTAGE DESCRIPTION " AMOUNT THIRD QUARTER REALIZED BEGINNING CASH BALANCE $320,000 $320,000 100.00% TAXES 193,440 147,879 76.45% CHARGES FOR SERVICES 4,426,990 3,476,474 78.53% MISCELLANEOUS REVENUE 49,100 86,326 175.82% TRANSFERS IN 115,175 86,378 75.00% WATER UTILITY FUND TOTALS $5,104,705 $4,117,057 80.65% 20 Water/Wastewater Fund Revenues Third Quarter 19.3% - 80.7% Water and Wastewater revenues are being received above anticipated. Both water fees and wastewater fees reflect this with 75.5% and 77.8% realized. 21 CITY OF OCOEEE THIRD QUARTER EXPENDITURE COMPARISON WATER/WASTEWATER UTILITY FUND FY99/00-FY00/01 Fiscal Year 99-00 Fiscal Year 00-01 Third Quarter Expenditures Third Quarter Expenditures Personal Services Transfers Out Personal Service Transfers Out 39.3/°° 33.6% 39.1 32.3% t Capital Outlay Operating Expenses O. % Operating 26p9�ses 28.3/a 22 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT WATER/WASTEWATER FUND THIRD QUARTER 2000/2001 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT THIRD QUARTER USED 531-00 WaterWastewater Administration $683,975 $436,885 64% 533-00 Water Operating 2,375,425 1,767,749 74% 535-00 Wastewater Operating 1,845,555 1 ,353,877 73% 537-00 Utility Inspections 199,750 134,915 68% TOTAL WATER/WASTEWATER FUND $5,104,705 $3,693,426 72% 23 0 r H mri rri a1uY• 00066 rI VIR OF 6000I 117(.6 RIDE OF ll A 1/11R ACE S SCOTT 11DERGNIE1 • 0 CITY OF OCOEE DANNY IIONELL � I`Il�A t MI II rI1D¢i�I' SIOTT UI ERSOS Ku-iv ion\SOS r V ceurC --rl nu S 47nI '_]5C ♦Sn(1 ) PARKER �9r �' 40 6 r( OR GOOD Aoscy AMES Ct6SSOC 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 8088 solid waste residential accounts at June 30, 2001 compared with 7908 accounts at June 30, 2000 representing, u 2.4c1 increase. Revenue Analysis Current year revenue receipts are detailed on page 25 and charted on page 26. Solid Waste Fund revenues are 78.6% compared to 76 9% for third quarter last year. Solid Waste Fees ($1,103,280.) are 73.6% realized which is slightly below anticipated. Franchise Fee revenue ($189,624) is 11859r realized. Interest earnings exceed expected with 531,596 realized. Expenditure Analysis Page 27 contains pie charts indicating the composition of expenditures for third quarter 1999/2000 and 2000/2001. Expenditures for the third quarter are 674t of budgeted. Principal and interest payments for garbage trucks, a pick up truck, and a recycle truck are budgeted in this fund. POWt 24 CITY OF OCOEE REVENUE ANALYSIS REPORT SOLID WASTE UTILITY FUND THIRD QUARTER 2000-2001 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT 'r THIRD',QUARTER REALIZED FRANCHISE FEES $160,000 $189,624 118.5% INTER GOVERNMENT SERVICES 5,000 608 12.2% CHARGES FOR SERVICES 1,500,000 1,103,280 73.6% MISCELLANEOUS REVENUE 20,000 31,596 158.0% TRANSFERS IN 0 0 0.0% SOLID WASTE FUND TOTALS $1,685,000 $1,325,108 78.6% 25 Solid Waste Fund Revenues Third Quarter 21 .4% 78.6% Solid Waste revenues are above anticipated, with franchise fees at 118%. 73.6% of solid waste fees have been collected compared to 73.5% for third quarter last year. 26 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON SOLID WASTE UTILITY FUND FY99/00-FY00/01 Fiscal Year 99-00 Fiscal Year 00-01 Third Quarter Expenditures Third Quarter Expenditures Transfers Out Personal Services 14 2% 34 6% Transfers Out Personal Service 16.5%a Operating Expenses Operating Expenses 51.2% 51.2% 27 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT SOLID WASTE FUND THIRD QUARTER 2000/2001 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT THIRD QUARTER USED 534-10 Solid Waste-Residential $1,190,180 $798,661 67% 534-20 Solid Waste-Recycling 298,820 203,101 68% 534-30 Solid Waste-Yard Waste 196,000 123,219 63% TOTAL SOLID WASTE UTILITY FUND $1,685,000 $1,124,981 67% 28 SUPPLEMENTAL INFORMATION Ocoeo CI WEI�Bf (:60L11/Ae; PH106O ItISOFi VCIL S. SC)iT V ANDERGRIFT \ CITY OF OCOEE DANNY Hawn:. n o Isos t AI II ,r<ImIiA,J IJU ( r '2_ NANCYl PARKER OF G000 Y4 st nrra FRso,v tin Al ]4A1Es GLEASON 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 S5I.820,000 in outstanding debt. The investment portfolio which contained $20,372,084 at June 30. 200I 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 goy C in mem backed notes. All investments are in accordance with the City's adopted investment policy. Funds necessar' 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 I998 Transportation Bond Issue), police impact fees (police building-current/future), lire impact tees (fire stations). and recreation impact fees (recreation facility). POWWWWWWI' 29 CITY OF OCOEE GENERAL CAPITAL PROJECTS THIRD QUARTER FY 2000-2001 CUMULATIVE , BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS 0F6-30-01 USED INACTIVE COMPLETION FIRE STATION #1 $3,476,513 $197,495 5.7% ACTIVE 99-2002 POLICE STATION $425,000 $28,015 6.6% ACTIVE 99-2001 BEECH MULTIPURPOSE FACILITY PHASE 2 - (AQUATIC CENTER) $1,346,771 $445,247 33.1% ACTIVE 99-2001 PARK LAND-SOUTH $1,137,185 $511,634 45.0% ACTIVE 99-2001 STARKE LAKE CAMPUS PLAN $100,000 $66,383 66.4% ACTIVE 2000-01 30 CITY OF OCOEE TRANSPORTATION CAPITAL PROJECTS THIRD QUARTER FY 2000-2001 = CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE! START DATE/ . PROJECT NAME FUNDS AS OF 6-30-01 USED INACTIVE COMPLETION MAGUIRE ROAD - PHASE 1- 4 $12,958,384 $6,591,816 50.9% ACTIVE 97-2002 MAGUIRE ROAD - PHASE 5 $2,844,537 $44,931 1_6% ACTIVE 99-2003 PROFESSIONAL PKWY PROJECT $4,474,852 $1,624,123 36.3% ACTIVE 98-2003 OLD WINTER GARDEN ROAD $2,723,825 $96,529 3.5% ACTIVE 99-2001 A.D. MIMS,WURST ROAD PROJECT $815,637 $377,376 46.3% ACTIVE 99-2001 31 CITY OF OCOEE STORMWATER CAPITAL PROJECTS THIRD QUARTER FY 2000-01 CUMULATIVE BUDGETED ( EXPENSES PERCENT ACTIVE/ START DATE! PROJECT NAME FUNDS AS OF 6-30-01 USED INACTIVE - COMPLETION PIONEER KEY II $150,000 $97,219 64.8°/o ACTIVE 2000-02 STARKE LAKE DRAIN WELLS $250,000 $1,320 0.5% ACTIVE 2000-02 REFLECTIONS SUBDIVISION $70,000 $17,069 24.4% ACTIVE 2000-02 PIONEER KEY I $66,566 $14,090 21.2% INACTIVE 97-?? BLUFORD AVE/ORLANDO AVE INTERSECTION $59,139 $18,001 30.4% INACTIVE 97-?? FRANKLIN ST AREA $46,006 $17,825 38.7% INACTIVE 97-?? GROUP 4 PROJECTS $783,097 $45,272 5.8% INACTIVE 97-?? 32 CITY OF OCOEE WATER/WASTEWATER CAPITAL PROJECTS THIRD QUARTER FY 2000-2001 CUMULATWE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 6-30-01 USED INACTIVE COMPLETION. WATER DISTRIBUTIONSYSTEM (PHASES I, II, III) $4,735,300 $3,570,825 75.4% ACTIVE 97-2001 REUSE WATER PROGRAM $3,857,000 $4,445,925 115.3% ACTIVE 97-2000 EFFLUENT DISPOSAL SYSTEM $432,400 $324,090 75.0% ACTIVE 98-2001 MAINTENANCE FACILITY $500,000 $657,144 131.4% ACTIVE 98-2000 REUSE RETROFIT PROGRAM $1,050,000 $117,764 11.2% INACTIVE 99-2001 MISCELLANEOUS WTP PROJECTS 5320,000 $18,580 5.8% ACTIVE 98-2001 33 CITY OF OCOEE DEBT STATEMENT AS OF JUNE 30, 2001 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 $1,440,000 Stormwater Utility Bonds, Series 1996 $ 1,785,000 Stormwater Utility Fees Capital Improvement Revenue Bond Covenant to budget and Series 1999, due 10/01/2028 11,045,000 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 18,800,000 Water and Sewer System Refunding Net Revenues and Impact and Improvement Bonds, Series Fees 1993 due 10/1/2017 6,930,000 Water and Sewer System Improvement Net Revenues and Impact Revenue Bonds, Series 1997 Fees due 10/1/2027 9,520,000 Non-Advalorem Revenue Notes 2000 Budget and Appropriate due 12/1/2010 2,300,000 Total Direct Debt $ -0- $ 33,585,000 $ 18,235,000 34 CITY OF OCOEE INVESTMENTS AS OF JUNE 30, 2001 INVESTED WITH FUND ACCOUNT RATE -MATURITY AMOwUNT NUMBER iJ DATE MERRILL LYNCH 001 -GENERAL FUND 86M-04A03 5.75 - $308,508.43 MERRILL LYNCH 103-STORMWATER UTILITY 86M-04A03 5.75 - $55,640.31 MERRILL LYNCH 106-ROAD IMPACT 86M-04A01 575 - $310,402.83 MERRILL LYNCH 106-ROAD IMPACT 86M-04A03 575 - $428,697.33 MERRILL LYNCH 106-ROAD IMPACT 86M-04A02 575 52,587,622.14 MERRILL LYNCH 107-FIRE IMPACT 86M-04A02 5.75 - 5680785.43 MERRILL LYNCH 107-FIRE IMPACT 86M-04A03 575 - $494,077.78 MERRILL LYNCH 108-POLICE IMPACT 86M-04A03 5.75 - $83,610.24 MERRILL LYNCH 110-RECREATION IMPACT 86M-04A02 575 - $332,628.75 MERRILL LYNCH 302-CAPITAL IMPROVEMENTS BOND 86M-04A03 5.75 - $1,054.067.14 MERRILL LYNCH 312-STORMWATER IMPROVEMENT 86M-04A03 5.75 - $6,536.76 MERRILL LYNCH 401 -WATER 0&M 86M-04A02 5.75 - $75,036.55 MERRILL LYNCH 401 -WATER 0&M 86M-04A03 575 - $251,203.58 MERRILL LYNCH 401 -WATER 0&M 86M-04A05 5.75 - $186,668,55 MERRILL LYNCH 402-SOLID WASTE UTILITY 86M-04A03 5.75 - $54,60206 MERRILL LYNCH 404-WATER IMPROVEMENT 86M-04A02 5.75 - $147,43679 MERRILL LYNCH 405-WASTE WATER CAPITAL FUND 86M-04A03 575 - $329,189.03 MERRILL LYNCH 406-WATER DEBT SERVICE 86M-04A04 575 - $54,778.61 MERRILL LYNCH 407-WASTEWATER R 8 R 86M-04A03 575 - $675210.34 MERRILL LYNCH 410-WATER R&R 86M-04A03 5.75 - $348,619.52 MERRILL LYNCH 410-WATER R&R 86M-04A02 5.75 - $380,273.33 TOTAL $8,845,795.50 35 CITY OF OCOEE INVESTMENTS AS OF JUNE 30, 2001 INVESTED WITH FUND < ACCOUNT =;.RATE MATURITY AMOUNT NUMBER DATE SUNTRUST 001 -GENERAL FUND 4444 5.15 07/19/01 51,500,000.00 SUNTRUST 105-STORMWATER R&R 4444 5.20 09/28/01 $100,000.00 SUNTRUST 106- ROAD IMPACT 4444 5.15 07/19/01 $1,000,000.00 SUNTRUST 106-ROAD IMPACT 4444 5.20 02/01/02 $500,000.00 SUNTRUST 106-ROAD IMPACT 4444 5.20 09/28/01 $186,842.92 SUNTRUST 106-ROAD IMPACT 4444 6.50 06/11/03 $1,000,000.00 SUNTRUST 107-FIRE IMPACT 4444 5.15 07/19/01 $222,981.67 SUNTRUST 301 -TRANSPORTATION BOND 4494 4.50 12/27/01 $491,226.53 SUNTRUST 301 -TRANSPORTATION BOND 4494 5.92 07/19/01 $1,486,025.00 SUNTRUST 301 -TRANSPORTATION BOND 4494 4.98 09/26/01 $700,000.00 SUNTRUST 302-CAPITAL IMPROVEMETS BOND 4444 5.15 07/19/01 $600,000.00 SUNTRUST 317-CAPITAL PROJECTS RESERVE 4444 5.15 07/19/01 $250,000.00 SUNTRUST 401 -WATER 0&M 4444 5.20 09/28/01 $325,000.00 SUNTRUST 401 -WATER 0&M 4444 5.15 07/19/01 $250,000.00 SUNTRUST 402-SOLID WASTE UTILITY 4444 5.20 09/28/01 $150,000.00 SUNTRUST 402-SOLID WASTE UTILITY 4444 5.15 07/19/01 $100,000.00 SUNTRUST 405-WATER/WASTEWATER CAPITAL 4444 5,42 09/29/03 5325,000.00 SUNTRUST 405-WATER/WASTEWATER CAPITAL 4444 5.20 02/01/02 $251,435.00 SUNTRUST 405-WATERNJASTEWATER CAPITAL 4444 5.15 07/19/01 $350,000.00 SUNTRUST 407-WASTEWATER R&R 4444 5.20 02/01/02 $251,435.00 SUNTRUST 412-WATERANASTEWATER BOND 4494 4.98 09/26/01 $286,100.00 SUNTRUST 412-WATERANASTEWATER BOND 4624 4.50 12/27/01 $491,226.53 TOTAL $10,817,272.65 36 CITY OF OCOEE INVESTMENTS AS OF JUNE 30, 2001 INVESTED WITH - FUND ACCOUNT RATE MATURITY AMOUNT NUMBER `DATE RAYMOND JAMES 001 -GENERAL FUND 10041873 6.00 - $229,723.16 RAYMOND JAMES 401 -WASTEWATER 10041873 6.00 - $56,721.31 RAYMOND JAMES 404-WATER CAPITAL FUND 10041873 6.00 - $71,921.70 RAYMOND JAMES 405-WASTEWATER CAPITAL FUND 10041873 6.00 - $350,649.62 TOTAL $709,01579 GRAND TOTAL $20,372,083.94 37 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2000-2001 FUND 106 ROAD IMPACT FEES BALANCE FORWARD $7,841,251 CURRENT QUARTER REVENUE $181,599 CURRENT QUARTER EXPENDITURE ($331,049) ENCUMBERED $0 INTEREST EARNED $161,773 ENDING BALANCE AT 06/30/01 $7,853,574 38 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER-FISCAL YEAR 2000-2001 FUND 107 FIRE IMPACT FEES RESTRICTED BALANCE FORWARD $1,797,090 $70,711 CURRENT QUARTER REVENUE RESIDENTIAL $42,262 $0 NON RESIDENTIAL $4,976 $0 TOTAL CURRENT QUARTER REVENUE $47,238 $0 CURRENT QUARTER EXPENDITURE RESIDENTIAL ($7,815) $0 NON RESIDENTIAL $0 $0 TOTAL CURRENT QUARTER EXPENDITURE ($7,815) $0 ENCUMBERED ($35,978) $0 INTEREST EARNED $29,765 $800 ENDING BALANCE AT 06/30/01 $1,830,300 $71,511 Restricted funds are comprised of Windermere R & R 39 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2000-2001 FUND 108 POLICE IMPACT FEES BALANCE FORWARD $315,217 CURRENT QUARTER REVENUE RESIDENTIAL $21,695 NON RESIDENTIAL $0 TOTAL CURRENT QUARTER REVENUE $21,695 CURRENT QUARTER EXPENDITURE ($16,330) ENCUMBERED $0 INTEREST EARNED $4,402 ENDING BALANCE AT 06/30/01 $324,984 40 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2000-2001 FUND 110 RECREATIONAL IMPACT FEES COMMUNITY NORTH EAST NORTH WEST SOUTH BALANCE FORWARD $214,515 $173,964 $18,776 $234,730 CURRENT QUARTER REVENUE $8,280 $3,876 $0 $2,790 CURRENT QUARTER EXPENDITURE $0 $0 $0 $0 ENCUMBERED ($9,282) $0 $0 $0 INTEREST EARNED $3,556 $2,891 $311 $3,891 ENDING BALANCE AT 06/30/01 $217,069 $180,731 $19,087 $241,411 41