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Home My WebLink AboutIII (B) Quarterly Financial Report Agenda 3-05-2002 Item III B -CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE' MAYOR•COMMISSIONER Ocoee S.SCOTT VANDERGRIFT 6" tt# CITY 0I OCOEE SSK)NI S i j - DANNY HOWELL 150 N.LAKESHORE DRIVE v p SCOFF ANDERSON ee e:�C OCOEE, FLORIDA 34761-2258 RUSTY JOHNSON 4-r �i ,��'T (407)905-3100 NANCY J.PARKER !4 OF GOOD N` CnY MANAGER JIM GLEASON MEMORANDUM To: Honorable Mayor and City Commissioners From: Wanda Horton, Finance Director24- Date: February 26, 2002 Re: Quarterly Financial Report- First Quarter FY 2002 The Quarterly Report for the first quarter of fiscal year 2002 is attached. This report details the financial activity for the City for the months October through December 2001. As you were previously informed by the City Manager, the effects of the September 11Ih events on the economy won't truly be known until the second or third quarter of the fiscal year. Staff has taken precautionary measures to offset what appears to be a probable reduction in the receipts from sales tax revenues and interest earnings. This impact has been forecasted to be about $704,000. The budget has been reviewed and items have been placed on hold until after the second quarter. Staff anticipates revenue receipts for the two quarters will provide a more reliable prediction of what the actual effect will be for this fiscal year and update you accordingly. Please call me at extension 1520 if you have any questions. C‘.1\\ pOVIlir 1 I ITABLE OF CONTENTS I Quarterly Overview i-ii General Fund I-2 I Revenue Comparison Graph 3 Revenue Analysis Report 4 Revenue Graphs 5-7 IResidential Building Permit Graph 8 Commercial Building Permit Graph 9 IExpenditure Comparison Graphs 10 Expenditures Analysis Report 11 ICapital Purchase Report 12 Budget Transfers 13 IStormwater Fund 14 Revenue Analysis Report 15 IRevenue Graph 16 Expenditure Comparison Graphs 17 IExpenditure Analysis Report 18 Water/Waste Water Fund 19 IRevenue Analysis Report 20 Revenue Graph 21 IExpenditure Comparison Graphs 22 Expenditure Analysis Report 23 I I i I Solid Waste Fund 74 Revenue Analysis Report 75 Revenue Graph 26 Expenditure Comparison Graphs 27 Expenditure Analysis Report 78 Supplemental Information 29 General Capital Projects 30 Transportation Projects 31 Stormwater Capital Improvements 32 Water/Wastewater Capital Improvements 33 Debt Statement 34 Investments 35 Road Impact Fee Status Report 36 Fire Impact Fee Status Report 37 Police Impact Fee Status Report 38 Recreational Impact Fee Status Report 39 I I I I I MAYOR•(V IMMI61ONLR Ocoee "(EN?ER OF GOOD LIVING-PRIDE OF(VEST ORANGE" S.SCOTT VANDERGRIRI e. IIy p COMMISSIONERS �; _ CITY OF OCOEE DANNYUOWRLL a SCOTr ANDERSON V p 150N LAKE SHORE:DRIVE np V OCOR.I_ HORIUA 34761-2258 RUSTYIPARKN 9p .VIZ (407)656232? NANCY J.PARKER FP OP GOO�N CITY MANAGER I JAMES GLEASON Quarterly Financial Report I Fiscal Year 2001/2002 First Quarter I 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 24,391 residents ranking third in population of the cities in Orange County. Ocoee has ten developed parks and an I8-hole public golf course. I 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. IIn 1987 Ocoee began a phenomenal growth pattern that 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 I limits. Plans are underway for future expansion to lengthen the road further north. Clarke Road spawned the development of residential neighborhoods and commercial centers, and the West Oaks Mall. The City secured funding for design, construction and improvements to Maguire Road, Professional Parkway and other roadways. Maguire Road is being expanded to four lanes in the southern portion of the community that will initiate further land development. Ad Valorem taxes are levied at the rate of 4.74 mils. The city currently employs 302 individuals. I IThe 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, November and December 2001. Revenues and receipts are presented for the I 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 I I POW` I MAYOR•Cr,,.,iSOIOSI 1 Ocoee "CENTER OF GOOD LIVING-PRIDE OF NET ORANGE- S.SCOTT VANDERGRR'r �' ' CITY OF OCOEE DANNYHOWELI. 0. SCOTr ANDERSON OE N.FLORIDA 347 DRIVE I Lc4-?}CSID rC50 N. AHOJ03476 RIVE RUS CY JOHNSON (4U7)656-232? NANCY 1.BARKER Or 0000 Crry MANAGER ILAMES OLE&SON 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. I Revenues are compared to expenditures in order to determine how daily operations may be affected by shifts in income-producing I sources. This difference is important in cash flow management to ensure revenues are available for budgeted expenditures. The initial economic impact of the September 11 " tragedy negatively affects intergovernmental revenue and miscellaneous (interest earnings) revenue in the general fund. Table I shows revenues currently exceed expenditures for the general and stormwater funds. It is Iimportant to note that the budgeted cash carry forward for the funds has not been posted to the revenue accounts. ITABLE 1 Revenue vs.Expenditures by Fund IFund Revenues Expenditures General Fund $7,013,582 $4,690,310 IStormWater Utility $286,300 $229,193 Water/Wastewater Utility $1,247,380 51,355,999 ISolid Waste Utility $408,728 $430,998 I Expenditures are grouped into four categories: Personal Services, Operating Expenses, Capital Outlay, and Transfers Out. Funds are I 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. I I POINT`POINT` ii GENERAL FUND i MA)Ok•COMMISSIONER OCO06 CENTER OF GOOD IJVING-PRIDE OF WEST OR,INGE" S.SCO1T VA NI IERGR IFT t �ti -e COMMISSIONERS j� [ 3 ° CITY OF OCOEE DANNY HOWELL Vi Q 3CdR ANDERSON p ISO N.LAKFSHOHF DRIVE re` 0 OCOEE,Fl 061063476I2258 RUSTY JOHNSON it ��JJJ -11' (407)656-2322 NANCV 1.PARKER Of G000 N` on'MANAGER ILAMES GLEASON I General Fund I The General Fund is the principal operating fund of the City. The General Fund budget for FY 01102. All general tax revenues and other receipts that are not allocated by law or contractual agreement to another fund are reported in this fund with the related expenditures. General Fund accounts for the activity of sixteen departments. Revenue Analysis The graph on page 3 provides a comparison of revenue receipts in dollars for first quarter fiscal years 2000/2001 and 2001/2002 Revenue I receipts in dollars are higher for the current year first quarter than the previous 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 above anticipated with 349E realized compared to 33.8(7 at the end of first quarter last year. Receipts for Property Taxes are 83,216,614 (67.08%) collected compared with 52,966,636 last year. Franchise Tax receipts consisting of revenues from electric, telephone, gas, and cable are above anticipated at 31.95% realized. Revenue for Utility Taxes ($476,809) is as anticipated with 25.71% of budgeted realized. Licenses and Permits are significantly above anticipated primarily due to the receipt of Occupational Licenses, Electrical Permits, Plan Review Fees, and Building Permits. Building Permit revenue is above anticipated with 69 residential and 5 commercial building permits issued for first quarter FY2002 compared with 68 Residential and 2 Commercial for FY2001. 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 FY2002 are below anticipated with 19.52% realized. Operating Revenue for Windermere Fire protection is due in two installments-February and May, with the capital charge due in October and March. Installments are current. The COPS FAST Grant and COPS MORE grant are quarterly reimbursement grants. The first quarter reimbursement request of 5125,063 has not been received yet. POW! 1 MAYOR•CORI V ISSIONrR Ocoee "GEVIEF OF GOOD LIVING-PRIDE OF WEST ORANGE- S.SCOTr VANDERCIRIFr O` (O.Ip11SSI0\GRF _ ��V � CITY OF �COEE DANNY HOWELL d SCOTT ANDERSON v p 50 N. LAxrsaO DRIVE tip' V OCOLG 07)6563J7fil??58 RUSTY RPINSON 4� A��cccYYY iNl' (d07)6J6-213n NANCY 1.PARKER tp Or G000�N CITY N1ANA,FR I — JAMES GIEASON Municipal Revenue Sharing, County Six Cent Gas Tax (Local Option Gas Tax), and Half-Cent Sales Tax have been received as anticipated. I Other Governmental Revenue consists of the Local Law Enforcement Block Grant (LLEBG) and a Byrne Grant for the police department. This revenue is 23% realized. The required 25% match for the Byrne Grant is reflected in the department expenditures. I Charges for Services consisting of zoning, annexation, development review, program activity and sale of maps and publication fees are 14.84% realized. Fines and Forfeitures at 26 % collected ($52,727) and False Alarm Fees at 29%collected ($3,895) are above anticipated. Miscellaneous Revenue consisting of returned check charges, special street lighting fees, and administrative fees for police security is 23% realized. Interest Iearnings are only 8% realized with S19,454 earned. Transfers in are as anticipated with 24% realized. IExpenditure Analysis Page 10 contains pie charts indicating the composition of expenditures for first quarter 2000/2001 and 2001/2002 for the General Fund. The I 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. Overall, expenditures for General Fund are 23% of budgeted. ICapital Outlay expenditures for General Fund arc 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. I Staff has identified expenditure areas that can be delayed/reduced to offset any reduction in revenues from the down turn in the economy stemming from the September I Ii°tragedy. I I POW!' 2 1 CITY OF OCOEE FIRST QUARTER REVENUE COMPARISON $3,500,000 $3,000,000 $2,500,000 $2,000,000 — $1,500,000 - $1,000,000 — $500,000 11 �� $0 I PROPERTY TAX FRANCHISE TAX UTILITY TAX LICENSE&PERMITS INTER. CHARGES FOR FINES&FORFEITURES MISCELLANEOUS TRANSFERS IN GOVERNMENTAL SERVICES REVENUE REVENUE 1 ❑Fiscal Year 00-01 ■Fiscal Year 01-02 L L I I CITY OF OCOEE REVENUE ANALYSIS REPORT GENERAL FUND FIRST QUARTER 2001-2002 I REVENUE BUDGET RECEIVED PERCENTAGE I DESCRIPTION AMOUNT FIRST QUARTER REALIZED BEGINNING CASH BALANCE $1,150,000 $0 0.00% IPROPERTY TAXES 4,795,130 3,216,614 67.08% IFRANCHISE TAXES 1,360,580 434,642 31.95% UTILITY TAXES 1,854,220 476,809 25.71% ILICENSES AND PERMITS 1,148,500 743,972 64.78% INTERGOVERNMENTAL REVENUE 6,647,850 1,297,405 19.52% I CHARGES FOR SERVICE 190,700 28,298 14.84% IFINES AND FORFEITURES 221,500 57,672 26.04% MISCELLANEOUS REVENUE 360,800 50,848 14.09% ITRANSFERS IN 2,896,450 707,322 24.42% IGENERAL FUND TOTALS $20,625,730 $7,013,582 34.00% I 1 1 ' 4 ( Property Taxes Franchise Taxes ( First Quarter First Quarter ( 67.1% 31 .9% ( 32.1% 68.1% ( 67.1% of Property Tax Revenue has been received, which is the same as Franchise Fees are being received above anticipated with 31.9% last year at this time. realized. Last year's first quarter ( receipts were 24.1% of the budgeted amount, ( ( Utility Taxes Licenses and Permits First Quarter First Quarter ( 64.8% ( 74.3% 64,8% of the revenue from licenses Utility Taxes are being received as and permits has been received. This anticipated with 25.7% realized. This sup from the 43.9% realized last is slightly up from the 23.6% received year in the first quarter. last year at this time. 5 I Intergovernmental Revenue Charges for Services I First Quarter First Quarter I 14.8% 19.5% - I 80.5% 85.2% I19.5% of Intergovernmental Revenue has Charges for Services are being been received. This is slightly down from realized below anticipated with 14.8% I the 21 .3% received for the first quarter last year. received compared with 18.2% received in the first quarter last year. I I Fines and Forfeitures Miscellaneous Revenue First Quarter First Quarter I 26.0% 14.10/0 I all , .., ... I 74.0% 85.9% Fines and Forfeitures are being I received as anticipated with 26% 14.1% of Miscellaneous Revenues have received. This is up from 19.6% been received. This is down from 26.9% collected in first quarter last year. last year at this time. The reduction is t primarily due to the drop in interest revenue. 6 I I I I I Fund Transfers First Quarter 24.4% 75.6% Fund Transfers are made on a monthly basis and are as expected. I I I I I I 7 6 CITY OF OCOEE IRESIDENTIAL BUILDING PERMIT ACTIVITY r 40 Pi 35 --- ( 30 : _ I 25 II 0 110 20 - 1 15 - - _ _ - __. L 1 10 - _. 5 II f l 0 — ill 1111L I 1111 i : I I ! I I LOctober November December January February March April May June July August September ■Fiscal Year 99-00 ■Fiscal Year 00-01 ❑Fiscal Year 01-02 L 8 I L CITY OF OCOEE COMMERCIAL BUILDING PERMIT ACTIVITY I 6 5 I C 4 t C 1 I 2 k II I 1 ii 0 r 11lir ll r r _ • , IOctober November December January February March April May June July August September ■Fiscal Year 99-00 ■Fiscal Year 00-01 0 Fiscal Year 01-02 F 9 I r CITY OF OCOEE r FIRST QUARTER EXPENDITURE COMPARISON I GENERAL FUND FY 00/01 -FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 I First Quarter Expenditures First Quarter Expenditures ITransfers Out Capital Outlay 10.3% Capital Outlay 10.9% I1 4% Transfers Out 1 1% 16.1V 16.3% Operating Operating Expenses Expenses I 72.2% Personal Services Personal Services I 71.7% I I 10 I I CITY OF OCOEE EXPENDITURE ANALYSIS REPORT GENERAL FUND I FIRST QUARTER 2001/2002 I BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 511-00 Legislative $166,155 $79,070 48% 512-00 City Manager 249,120 55,936 22% I 512-02 Information Systems 382,670 75,387 20% 512-10 City Clerk 259,075 68,692 27 513-00 Finance Administration 622,385 158,909 26% I 513-30 Human Resources 385,865 119,021 31% 514-00 Legal 381,059 64,800 17°% 515-00 Planning 567,290 131,003 23% I 516-00 General Government Services 2,876,219 602,200 21% 517-00 Public Works Administration 251,122 49,419 20% 519-00 Building Maintenance 361,965 63,164 17% 521-00 Law Enforcement 5,454,730 1,286,660 24% 522-00 Fire Control 3,631,775 861,846 24% 524-00 Protective Inspections 933,095 234,253 25% I529-00 Communications 664,585 161,855 24% 539-00 Cemetery 3,000 77 3% I 541-10 Public Works-Traffic Operations 206,665 38,275 19% 541-20 Public Works-Street Maintenance 1,065,460 199,556 19% 541-30 Public Works-Park Maintenance 784,570 179,512 23% I 541-40 Public Works-Fleet Maintenance 96,705 22,275 23°/ 572-00 Recreation 932,045 174,658 19% 574-00 Community Relations 350,175 63,722 18% ITOTAL GENERAL FUND $20,625,730 $4,690,310 23% I I 11 I I CITY OF OCOEE CAPITAL PURCHASE REPORT I FISCAL YEAR 2001-2002 FIRST QUARTER DEPARTMENT I ITEM PURCHASED BUDGETED ACTUAL DIFFERENCE AMOUNT COST ILEGISLATIVE MULTIMEDIA PROJECTOR $11,000.00 $10,863.00 $137.00 LEGISLATIVE LAPTOP COMPUTER (3) $8,400.00 $8,180.00 $220.00 IP W ADMINISTRATION EMERGENCY GENERATOR $28,000.00 $25,567.00 $2,433.00 ILAW ENFORCEMENT FULL SERVICE K-9 DOG (2) $10,000.00 $7,600.00 $2,400.00 LAW ENFORCEMENT K-9 EQUIPMENT CAGE (2) $4,000.00 $3,948.00 $52.00 IFIRE CONTROL MSA AIR BOTTLES (15) $9,750.00 $9,635.00 $115.00 I I I I I I I 12 I F CITY OF OCOEE GENERAL FUND BUDGET TRANSFERS I FISCAL YEAR 2001-2002 FIRST QUARTER DEPARTMENTAL ACCOUNT NUMBER . ACCOUNT NUMBER AMOUNT OF IBUDGET TRANSFER TRANSFERRED FROM TRANSFERRED TO TRANSFER EXPLANATION PW-ADMINISTRATION 001-516-00-4900 001-517-00-6400 $2,567.00 GENERATOR I CONTINGENCY EQUIPMENT GENERAL GOVERNMENT 001-516-00-4900 001-516-00-4905 $4,450.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-WATER TAX IGENERAL GOVERNMENT 001-516-00-4900 001-516-00-4906 S44,500.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-WATER FEES I GENERAL GOVERNMENT 001-516-00-4900 001-516-00-4907 $58 160.00 SENIOR CITIZENS PROGRAM CONTINGENCY SENIOR PROGRAM-SOLID WASTE PW-FACILITIES MAINT 001-516-00-4900 001-519-00-5202 $2,000.00 CLARKE ROAD BANNERS ICONTINGENCY OPERATING SUPPLIES LEGAL 001-516-00-4900 001-541-00-3101 S15,469.25 FOXFIRE SETTLEMENT CONTINGENCY LEGAL EXPENSE I LEGISLATIVE 001-516-00-4900 001-511-00-1101 53,575.00 TRAVEL STIPEND CONTINGENCY OTHER PAY ILEGISLATIVE 001-516-00-4900 001-511-00-2100 $275.00 RCA ON TRAVEL STIPEND CONTINGENCY FICA TAXES I I I I I 13 STORMWATER FUND 1 MAYOR•COMNIISSIONER Ocoee 'CEA7 ER OF GOOD LIVING-PRIOR OIL WPRI ORA.V'GE" .S..SCOrr V ANDERGRIEr 0 O 81 COMMISSIONERS CITY OF OGEE DANNYANDERSOn :--a Ocorr150�,�Il FLORIDA 3i7(+1RE �225N YY RUSTY IOHNSON f NANCY1 PARKER ,% (407)656-2322 4 OF 6000�N CITY MANAGER — JAMES GLEASON StormWater Utility Fund IThe 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 55.00 per Equivalent Residential Unit (ERU). The Stormwater fund is divided into two I divisions- Utility Engineering and Utility Operations. The Utility Engineering division primarily accounts for expenditures related to the studies and compliance requirements of the City's StormWater system. The Utility Operating division maintains over fifty retention ponds This division is responsible for vegetation control in and around the ponds, swales and wet areas. This division I repairs the pipes, inlets and fencing that surrounds these areas. Currently there are 4' employees in this fund. As of December 31, 2001 there were 8897 Stormwater accounts compared to 8464 accounts at December 31, 2000 representing a 5% increase in customer base. The Stormwater fund budget for fiscal year 2001-2002 is S 1,166,370. IRevenue Analysis I Current year revenue receipts are detailed on page 15 and charted on pages 16. Stormwater Fund revenues are 24.6% realized overall compared to 25.4% for first quarter last year. Charges for Services (S283,300) are 25.7% realized .Interest Earnings below anticipated with 22% realized. IExpenditure Analysis IPage 18 contains pie charts indicating the composition of expenditures for first quarter 2000/2001 and 2001/2002 for the Stormwater Fund. The Budget versus Expenditure report (page 18) shows the amount spent and percentage of the budget the amount represents for I the quarter. Expenditures for the Stormwater Fund are 20% 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 S213,830. Funds are also transferred to the Utility Inspections division to cover the cost of the Drainage Inspector. I I POW 1 CITY OF OCOEE REVENUE ANALYSIS STORMWATER UTILITY FUND 1 FIRST QUARTER 2001-2002 REVENUE BUDGET RECEIVED PERCENTAGE 1 DESCRIPTION AMOUNT FIRST QUARTER REALIZED BEGINNING CASH BALANCE $50,000 $0 0.00% CHARGES FOR SERVICES 1,105,000 283,814 25.68% IMISCELLANEOUS REVENUE 11,370 2,486 21.86% STORMWATER UTILITY FUND TOTALS $1,166,370 $286,300 24.55% I I I I I 1 1 I 1 15 I I Stormwater Fund Revenues First Quarter 25.6% 74.4% Stormwater Fund Revenues are currently being received slightly above anticipated, with 25.6% realized. I I I I 16 I. 1 CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON STORMWATER UTILITY FUND FY 00/01- FY 01/02 Fiscal Year 00-01 Fiscal Year 01-02 First Quarter Expenditures First Quarter Expenditures ' 47.3% SePersonal rvices ervices Transfers Out Personal Services Transfers Out er 28.3°/a 54.5% 17.0% 24.5% Operating Operating Expenses ' Expenses 17 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT STORMWATER FUND FIRST QUARTER 2001/2002 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 538-10 Engineering/Inspections $697,300 $129,856 19% 538-20 Utility Operating 469,070 99,337 21% TOTAL STORMWATER FUND $1,166,370 $229,193 20% I I I I I I I I 18 WATER/WASTEWATER FUND I MAYOR•COMMISSIONER Owes -'CENfEN OF GOOD LIVING-PRIDE OP(VEST ORANGE" S.SCOTr V ANDERGR IFF �� CITY OF OCOEE COMMISSIONERS UA]\T HONERS LL a SCOTr ANDERSON y p 150 N.LAKESHORE DRIVE tf Ocora FLORIDA 34761-'_258 RUSTY JOIIVSON i! A��JJ1"" a� (407)656-2322 NANCYL PARKER F+GP GOOSN CITY MANAGER IJAMES GL EASO\ I Water/Wastewater Utility Fund IThe 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. The 2001/2002 budget for this fund is $5,745,120. There were 9699 and 5830 water and wastewater customers at December 31, 2001 respectively compared to 9254 and 5463 customers at December 31, 2000. This represents a 5% increase for Water and a 7% increase for Wastewater customer base. IRevenue Analysis Current year revenue receipts are detailed on page 20 and charted on pages 21. Revenue for the Water/Wastewater Fund is 21.71% I realized compared to 30.6% for first quarter last year. Water Utility Fees ($513,331) are 25% realized while Wastewater Utility Fees (S554,774) are 25% realized. Revenue and Maintenance Fees include annual and monthly billings for Water (13% realized) and Wastewater (22% realized). Receipts for Water Connection Fees and Other Water Charges (cut-off/cut-on activity and late fees) are I 17% and 23% respectively. Interest earnings are 13% 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. IExpenditure Analysis Page 22 contains pie charts indicating the composition of expenditures for first quarter 2000/2001 and 2001/2002. The Budget versus IExpenditure report (page 23) shows the amount spent and percentage of the budget the amount represents for the quarter. Actual expenditures for the first quarter are 24% overall. The public relations campaign and water rate study are funded in professional services in the Administration division. A portion of the annual debt service payment for the 1997 bond issue is funded in the Water Operating and Wastewater Operating divisions. I POW CITY OF OCOEE REVENUE ANALYSIS REPORT WATER/WASTE WATER UTILITY FUND FIRST QUARTER 2001-2002 REVENUE BUDGET RECEIVED PERCENTAGE DESCRIPTION AMOUNT FIRST QUARTER REALIZED BEGINNING CASH BALANCE $575,000 $0 0.00% TAXES 201,180 49,768 24.74% CHARGES FOR SERVICES 4,717,000 1,141.455 24.20% MISCELLANEOUS REVENUE 60,100 8,199 13.64% TRANSFERS IN 191,840 47,958 25.00% WATER UTILITY FUND TOTALS $5,745,120 $1,247,380 21.71% I I I i I I 20 1 1 1 Water/Wastewater Fund Revenues 1 First Quarter 1 21 .7°%° 1 78.3% Water and Wastewater revenues are being received slightly below anticipated. J1 1 1 1 1- 21 i f (- CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON WATER/WASTEWATER UTILITY FUND FY 00/01 -FY 01/02 Fiscal Year 00-01 Fiscal Year 01-02 First Quarter Expenditures First Quarter Expenditures 1 Transfers Out 36.0% 36.2% Personal Services Transfers Out ( 41.7% 37er Personal Services Operating 22.1% Operating 25.9% Expenses Expenses I' l l 22 I CITY OF OCOEE EXPENDITURE ANALYSIS REPORT WATER/WASTEWATER FUND FIRST QUARTER 2001/2002 I BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED I531-00 WaterWastewater Administration $536,020 $156,659 29% 533-00 Water Operating 2,700,115 603,810 22% 535-00 Wastewater Operating 2,032,550 520,346 26% 537-00 Utility Inspections 319,280 75,184 24% ITOTAL WATER/WASTEWATER FUND $5,587,965 $1,355,999 24% I I I I I I I 23 I SOLID WASTE FUND MAYOR•COMMISSIONER Ocoee "CLNI ER OF GOOD LIVING-PRIDE OF WEST ORANGE- S.SCOTT V ANDERGR'FT cra \O COM.MISA"NERs -� LLI _ CITY OF OCOEE DANNYHOWELL 2 50 N.LAKESHORL DRIVE SCOTr ANDERSON O nF OCOEE,FLORIDA 34761?258 RUSTY IOIINS E '�? a`i N 1407)656-2322 NANCY J.PARKER fq os cool) CITE MANAGER JAMES GLEASON 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. Al] 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 8184 solid waste residential accounts at December 31, 2001 compared with 7994 accounts at December 31,2000 representing a 2% increase. The budget for fiscal year 2001/2002 is S 1,952,370. IRevenue Analysis Current year revenue receipts are detailed on page 25 and charted on pages 26. Solid Waste Fund revenues arc 20.9% realized compared with 25.6% for first quarter last year. Solid Waste Fees ($377,797) are 22% realized which is below anticipated. Franchise Fee revenue ($27,315) is 16% realized. Interest earnings at $3,150 are only 10% realized. Expenditure Analysis Page 27 contains pie charts indicating the composition of expenditures for first quarter 2000/2001 and 2001/2002. The Budget versus Expenditure report (page 28) shows the amount spent and percentage of the budget the amount represents for the quarter. Expenditures for the first quarter are 22% of budgeted. Principal and interest payments for garbage trucks, a pick up truck, and a recycle truck are budgeted in this fund. I POWF' 24 CITY OF OCOEE REVENUE ANALYSIS REPORT SOLID WASTE UTILITY FUND FIRST QUARTER 2001-2002 REVENUE BUDGET RECEIVED PERCENTAGE I DESCRIPTION AMOUNT FIRST QUARTER REALIZED I FRANCHISE FEES $170,255 $27,315 16.0% CHARGES FOR SERVICES 1,750,000 377,812 21.6% MISCELLANEOUS REVENUE 32,115 3,601 11.2% SOLID WASTE FUND TOTALS $1,952,370 $408,728 20.9% I I I I I I I 25 l I I I Solid Waste Fund Revenues First Quarter 20 9°io 791% Solid Waste revenues are being received slightly below anticipated. 21.6% of solid waste fees have been collected compared to 24.3% for first quarter last year. I I I 26 f CITY OF OCOEE FIRST QUARTER EXPENDITURE COMPARISON SOLID WASTE UTILITY FUND t FY 00/01 - FY 01/02 1 Fiscal Year 00-01 Fiscal Year 01-02 First Quarter Expenditures First Quarter Expenditures Transfers Out 18.2% Transfers Out 22.8% o 3 Personal Services 32.6% Personal Services 46.5% 44.6% Operating Operating Expenses Expenses t. 27 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT SOLID WASTE FUND FIRST QUARTER 2001/2002 I BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT FIRST QUARTER USED 534-10 Solid Waste-Residential $1,444,675 $315,922 22% 534-20 Solid Waste-Recycling 336,990 88,644 26% 534-30 Solid Waste-Yard Waste 170,705 26,432 15% TOTAL SOLID WASTE UTILITY FUND $1,952,370 $430,998 22% i I I I I I I I 28 SUPPLEMENTAL INFORMATION 41 ti 1 MAYOR•COMMISSIONrR 00069 'CENTER OF GOOD LIVING-PRIDE OF(VEST ORANGE' S.SCOTT VANDERGRIFT I ((Ocoee \/Q COMMISSIONERS It CITY OF OCOEE DANNY HOWELL U SCOTT ANDERSON I0 of p Ocorc,FLORIDA 34761-2258 RUSTY JOHNSON 4A As (407)656-2322 NANCV J.PARKER f.Of GOOD SN'` CITY MANAGER IJAMS GLEASON I ISupplemental Information I 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 $51,820,000 in outstanding debt. IThe investment portfolio contained $16,035,619 at December 31, 2001 and is detailed on pages 35. Funds are invested in government backed notes and mutual funds. 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 36-39 for Road, Fire, Police, and Recreation. Debt Service is currently paid out of road impact Ifees (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). I I I I POW,' 29 1 I I CITY OF OCOEE GENERAL CAPITAL PROJECTS I FIRST QUARTER FY 2001-2002 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ IPROJECT NAME FUNDS AS OF 12-31-01 USED INACTIVE COMPLETION PUBLIC WORKS FACILITY $1,640,262 $1,640,262 100.0% INACTIVE 98-2001 IFIRE STATION#1 $3,476,513 $579,719 16.7% ACTIVE 99-2002 POLICE STATION $425,000 $96,537 22.7% ACTIVE 99-2002 I BEECH MULTIPURPOSE FACILITY PHASE 2 $1,107,963 $1,107,963 100.0% INACTIVE 99-2001 IPARK LAND-SOUTH $1,130,058 $516,610 45.7% ACTIVE 99-2002 ISTARKE LAKE FISHING PIER $47,614 $47,614 100.0% INACTIVE 2000-02 STARKE LAKE CAMPUS PLAN $100,000 $68,207 68.2% ACTIVE 2000-02 ISOCCER FIELD-BEECH CENTEF $21,384 $21,384 100.0% INACTIVE 2000-01 I I I 30 I I I CITY OF OCOEE TRANSPORTATION CAPITAL PROJECTS I FIRST QUARTER FY 2001-2002 ICUMULATIVE BUDGETED 7. EXPENSES PERCENT ACTIVE/ START DATE/ IPROJECT NAME FUNDS AS OF 12-31-01 USED INACTIVE COMPLETION MAGUIRE ROAD - PHASES 1-4 $13,421,275 $8,975,357 66.9% ACTIVE 97-2002 IMAINE STREET PROJECT $30,670 $30,670 100.0% INACTIVE 98-2001 PROFESSIONAL PKWY PROJECT $4,724,852 $2,013,636 42.6% ACTIVE 98-2002 I WHITE RD/ORLANDO AVE PROJECT $465,610 $465,610 100.0% INACTIVE 98-2000 IWURST/A.D MIMS ROAD PROJECT $848,901 $633,901 74.7% ACTIVE 99-2002 MAGUIRE ROAD - PHASE 5 $2,844,537 $116,517 4.1% ACTIVE 99-2002 IOLD WINTER GARDEN ROAD $2,723,825 $174,618 6.4% ACTIVE 99-2002 I I I I 31 i I CITY OF OCOEE STORMWATER CAPITAL PROJECTS I FIRST QUARTER FY 2001-2002 I CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 12-31-01 USED INACTIVE COMPLETION IPIONEER KEY II $150,000 $145,964 97.3% ACTIVE 2000-02 ISTARKE LAKE DRAIN WELLS $250,000 $34,063 13.6% ACTIVE 2000-02 REFLECTIONS SUBDIVISION $70,000 $18,813 26.9% ACTIVE 2000-02 ILAKE OLYMPIA/STARKE LAKE $17,000 $11,338 66.7% ACTIVE 2001-02 PIONEER KEY I $66,566 $14,090 21.2% INACTIVE 97-?? IBLUFORD AVE/ORLANDO AVE INTERSECTION $59,139 $18,001 30.4% INACTIVE 97-?? IFRANKLIN ST AREA $46,006 $17,825 38.7% INACTIVE 97-?? GROUP 4 PROJECTS $783,097 $45,272 5.8% INACTIVE 97-?? I I I I 32 I I I CITY OF OCOEE WATER/WASTEWATER CAPITAL PROJECTS I FIRST QUARTER FY 2001-2002 ICUMULATWE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ 1 PROJECT NAME FUNDS AS OF 12-31-01 USED INACTIVE COMPLETION WATER DISTRIBUTIONSYSTEM I (PHASES I, II, III) $3,655,700 $3,312,559 90.6% ACTIVE 97-2002 REUSE WATER PROGRAM $3,857,000 $4,436,523 115.0% INACTIVE 97-2000 IEFFLUENT DISPOSAL SYSTEM $432,400 $352,595 81.5% ACTIVE 98-2002 MAINTENANCE FACILITY $500,000 $569,923 114.0% INACTIVE 98-2000 IREUSE RETROFIT PROGRAM $1,050,000 $117,764 11.2% INACTIVE 99-2001 IMISCELLANEOUS WTP PROJECTS $320,000 $18,580 5.8% INACTIVE 98-2001 MAGUIRE ROAD UTILITY LINE $500,000 $578,334 115.7% ACTIVE 00-2002 I I I I I 33 I I CITY OF OCOEE DEBT STATEMENT AS OF DECEMBER 31 , 2001 General General Fund Utility Fund Source I Obligation Revenue Revenue of Direct City Debt Debt Debt Debt Security I Transportation Refunding and Local Option Gas Tax and Improvement Revenue Bonds, Public Service Taxes Series 1990 due 10/1/2015 $1,440,000 IStormwater Utility Bonds, Series 1996 $ 1,785,000 Stormwater Utility Fees I Capital Improvement Revenue Bond Covenant to budget and Series 1999, due 10/01/2028 11,045,000 appropriate annually from non-ad valorem revenues Iand impact fees Transportation Refunding and Local Option Gas Tax and I Improvement Revenue Bonds, Public Service Taxes Series 1998, due 10/01/2017 18,800,000 Water and Sewer System Refunding Net Revenues and Impact I and Improvement Bonds, Series Fees 1993 due 10/1/2017 6,930,000 IWater and Sewer System Improvement Net Revenues and Impact Revenue Bonds, Series 1997 Fees Idue 10/1/2027 9,520,000 Non-Advalorem Revenue Notes 2000 $ 2,300,000 Budget and Appropriate due 12/1/2010 tTotal Direct Debt $ -0- $ 33,585,000 $ 18,235,000 I 34 1 I CITY OF OCOEE INVESTMENTS AS OF DECEMBER 31, 2001 I BOOK INCOME MARKET CURRENT': . IINVESTMENT PORTFOLIO VALUE EARNED VALUE YIELD MERRILL-LYNCH MUTUAL FUNDS $319,155 $4,378 $314,302 5.58% IACCOUNT 86M-04A01 MERRILL-LYNCH MUTUAL FUNDS $4,339,590 $42,421 $4,352,938 5.58% IACCOUNT 86M-04A02 MERRILL-LYNCH MUTUAL FUNDS $4,196,864 $38,595 $4,207,364 5.58% ACCOUNT 86M-04A03 I MERRILL-LYNCH MUTUAL FUNDS $56,661 $770 $55,467 5.58% ACCOUNT 86M-04A04 IMERRILL-LYNCH MUTUAL FUNDS $191,938 $2,636 $189,013 5.58% ACCOUNT 86M-04A05 IRAYMOND JAMES SECURITIES $721,440 $9,369 $721,119 5.38% ACCOUNT 10041873 ISTI CLASSIC FUNDS SECURITIES $11,678 $51 $11,729 1.45% SUNTRUST TREASURY NOTES $695,423 $4,577 $695,170 4.58% ACCOUNT 4494 SUNTRUST TREASURY NOTES $5,502,870 $44,492 $5,526,876 4.58% IACCOUNT 4444 GRAND TOTALS $16,035,619 $147,289 $16,073,978 I I 35 I I I CITY OF OCOEE IMPACT FEE STATUS REPORT IFIRST QUARTER - FISCAL YEAR 2001-2002 FUND 106 ROAD IMPACT FEES IBALANCE FORWARD $7,719,527 CURRENT QUARTER REVENUE $461,742 ICURRENT QUARTER EXPENDITURE ($505,760) ENCUMBERED SO I INTEREST EARNED $36,686 IENDING BALANCE AT 12/31/01 S7,712,195 I I I I I I 36 1 I ICITY OF OCOEE IMPACT FEE STATUS REPORT FIRST QUARTER-FISCAL YEAR 2001-2002 I FUND 107 FIRE IMPACT FEES I RESTRICTED IBALANCE FORWARD $1,992,516 $72,074 I CURRENT QUARTER REVENUE RESIDENTIAL $47,556 $0 NON RESIDENTIAL $27,037 $0 TOTAL CURRENT QUARTER REVENUE $74,593 50 I CURRENT QUARTER EXPENDITURE RESIDENTIAL (5200,151) $0 I NON RESIDENTIAL $0 $0 TOTAL CURRENT QUARTER EXPENDITURE ($200,151) $0 IENCUMBERED ($7,134) $0 INTEREST EARNED $3,528 $362 IENDING BALANCE AT 12/31/01 $1,863,352 $72,436 I " Restricted funds are comprised of Windermere R & R I I I 37 I I I CITY OF OCOEE IMPACT FEE STATUS REPORT IFIRST QUARTER - FISCAL YEAR 2001-2002 FUND 108 POLICE IMPACT FEES IBALANCE FORWARD $354,546 CURRENT QUARTER REVENUE IRESIDENTIAL $22,472 NON RESIDENTIAL $9,234 I TOTAL CURRENT QUARTER REVENUE $31,706 ICURRENT QUARTER EXPENDITURE ($16,117) ENCUMBERED $0 IINTEREST EARNED $1,403 IENDING BALANCE AT 12/31/01 $371,538 I I I I 38 i I I CITY OF OCOEE IMPACT FEE STATUS REPORT FIRST QUARTER - FISCAL YEAR 20010-2002 I FUND 110 RECREATIONAL IMPACT FEE I IBALANCE FORWARD $689,083 ICURRENT QUARTER REVENUE $29,930 CURRENT QUARTER EXPENDITURE ($80,000) IENCUMBERED $0 INTEREST EARNED $1,686 ENDING BALANCE AT 12/31/01 $670,699 I I I I I I 39