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Home My WebLink AboutIII (F) Quarterly Financial Statement Agenda 5-21-2002 Item III F CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE' MAYOR•COMMISSIONER S SCO'IT VANDERGRII'r �coe� COMMISSIONLRS �{, CITY OF OCOEE DANNY flown', lF O SCOTTANDERSON a - is- Jlk i. _ 150 N. LAKESHORE DRIVE RUSTY JOHNSON +_ T!� "Pr O. OCOEE.FLoRIon 34761-2258 v . " . (407)905-3100 NANCY J.PARKER _ CITY MANAGER fthae o i JIM GLEASON MEMORANDUM TO: The Honorable Mayor and Board of City Commissioners thif FROM: Wanda B. Horton, Finance Director DATE: May 15, 2002 RE: Quarterly Financial Review, Second Quarter FY02 Finance has completed its evaluation and analysis of the FY02 second quarter revenues and expenditures. The report will he on the May 21, 2002 consent agenda. Should you have any questions or want additional information, please give Donald Carter or me a call. PpOcoee'sWaterResouI k W p w 11111 Ili CI- H CC 11111111 °0is. sawo i0 JD . N Itts cc 0 < 5 IIIII 0 cs ir 1'2 Ic , co c\I U QU1— cc � �� w `CC 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 70 Revenue Graph 21 Expenditure Comparison Graphs 22 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 Road Impact Fee Status Report 36 Fire Impact Fee Status Report 37 Police Impact Fee Status Report 38 Recreational Impact Fee Status Report 39 • Quarterly Financial Report Fiscal Year 2001/2002 Second 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 24,391 residents ranking third in population of the cities in Orange County. Ocoee has ten developed 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 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 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 4.66 mils. The city currently employs 313 individuals. The Quarterly Financial Report presents the results of financial activity of the City for the preceding three months. This second quarter report summarizes the activity for the months of January, February, and March 2002. 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. MAYOR•COMMISSIONER Ocoee (}-YTI_R OI (MOD I.IVNG-PRIDE OF WEST ORANGE S.SCOTt VANDERGRIF4 O` COMMISSIONERS Ewa CITY OF OCOEE DANNYNOWELL Q SCOTr ANDERSON 0 150 N. LANrseoRr DRIV V. RUSTY IOFINSON Or, ��p pI'ow,FLORIDA 34761-2258 NANCYI.PARKER 'ti a` (407)656-2322 lP Of Gn�O�` On MANAGER JAMES GIEASON Revenues are computed 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. The initial economic impact of the September 11th tragedy continues to negatively affect intergovernmental revenue and miscellaneous (interest earnings) revenue in the general fund. Table I shows revenues currently exceed expenditures for all funds. It is important to note that the budgeted cash earn forward for the funds has been posted to the revenue accounts. TABLE 1 Revenue vs. xpennsliturgs xim ,;'r E - ;. ., `Fund Revenues - - Expenditures General Fund $12,660,807 $8,916,171 StonuWatcr Ctility $623,440 $457,678 V uieinA'astewater'Utility S3,071,765 $2,713,504 Solid \tiaste UtilityS907,063 $845,328 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 tee restrictions, water deposit repayments, or loan restrictions. Pow! ii �plel Pesun[<F:�. A z w w g w z w 0 MAYOR•COMMISSIONER Ocoee - scar OF GOOD LIVING-PRIDE OF WEST ORANGE' S-SCO VANDERORIFT ` \� COMMISSIONERS j'va ° CITY OF OCOEE DANNYHowR °�,_ a SCOTTN ANDERSON y 0 150 N. LAKESHORH DRIVE J. Uax1,,pKoumA 3476 -2258 RUSTY JOHNSON �, NANCY J.PARKER 'r} > 1407)656-2322 !P Of 0000Q Cry MANAGER JAMES GLEASON General Fund The General Fund is the principal operating fund of the City. The General Fund budget for FY2001/2002 is $20,625,730 . 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 second quarter fiscal years 2000/2001 and 2001/2002 revenue receipts in dollars are higher for the current year second 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 61% realized compared to 60% at the end of second quarter last year. Receipts for Property Taxes arc $4,366,400 (91%) collected this fiscal year compared with 53,832,976 for last year. Franchise Tax receipts consisting of revenues from electric, and gas are above anticipated at 569 realized. Revenue for Utility Taxes ($878,764) is below anticipated with 47% 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 49 residential and 5 commercial building permits issued for second quarter FY2002 compared with 86 Residential and 2 Commercial for FY2001. Three years of building permit activity are graphed on pages 8-9. Intergovernmental Rcvenuo are funds received from other governmental agencies. Receipts for second quarter FY2002 are below anticipated with 43.146 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 second quarter reimbursement request of$87,365 has not been received yet. Municipal Revenue Sharing, County Six Cent Gas Tax (Local Option Gas Tax), and Half-Cent Sales Tax have been received below original budget but as anticipated subsequent to September II'". Other Governmental Revenue consists of the Local Law Enforcement Block Grant POWt 1 MAYOR•COMMISSIONER OCOBB 'CENTER OE GOOD LIVING-PRIDE OF WEST ORANGE" S.SCOTh VANDERORIFT O� / COMMISSIONERS 0 R� _ CITY OF OCOEE DANNYHOWELL, pa SCOTr ANDERSON p 150 N'. tAKESHORE DRIVE RUSTY IOHNSOh' OcorG Fl oxmn3a761-225M NANCY J PARKER t' 4, (407)656-2322 ` or 0000 CITY MiNAGER JAMES GLEASON (LLEBG) and a Byrne Grant for the police department. This revenue is 24% 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 36.51% realized. Fines and Forfeitures at 50 / collected ($99,985) and False Alarm Fees at 55%collected ($7,400)are above anticipated. Miscellaneous Revenue consisting of returned check charges, special street lighting fees, and administrative fees for police security is 31.5% realized. Interest earnings are only 18% realized with S44,442 earned. Transfers in are as anticipated with 49% realized. Expenditure Analysis Page 10 contains pie cart, indicating the composition of expenditures for second quarter 2000/2001 and 2001/2002 for the General Fund. The Budget versa; 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 timing and types of expenditures for the departments, i.e.-dues, contracts and capital items. Overall. expenditures for General Fund are 439c of budgeted. Capital Out lac expenditures for General Fund are detailed on page 12. Blanket purchase orders continue to be utilized to help expedite receipt of goods and services necessap 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. The Budget Reserve is the amount of expenditures Staff has identified that can be delayed/reduced to offset any reduction in revenues from the down turn in the economy stemming from the September I I i° tragedy. POWWWWWWWW- 2 CITY OF OCOEE SECOND QUARTER REVENUE COMPARISON $5,000,000 $4,500,000 $4,000,000 - $3,500,000 -- $3,000,000 -- $2,500,000 $2,000,000 - -- $1,500,000 $1,000,000 $500,000 — -i1— PROPERTY TUX FRANCHISE TM UTILITY TAX LICENSE PERMITS INIER- CHARGES FOR FINES&FORFEITURES MISCELLANEOUS TRANSFtµa IN GOVERNMENTAL SERVICES REVENUE REVENUE ❑Fiscal Year 00-01 ■Fiscal Year 01-02 3 CITY OF OCOEE REVENUE ANALYSIS REPORT GENERAL FUND SECOND QUARTER 2001-2002 REVENUE IBjL79171" Isk ,. . RE�CEI - aT g_ DESCRIPTION AMOUNT SECOND.Q ,ARTER` : x ER„; BEGINNING CASH BALANCE $1,150,000 $1,150,000 100.00% PROPERTY TAXES 4,795,130 4,366,400 91.06% FRANCHISE TAXES 1,360,580 763,002 56.08% UTILITY TAXES 1,854,220 878,764 47.39% LICENSES AND PERMITS 1,148,500 927,361 80.75% INTERGOVERNMENTAL REVENUE 6,647,850 2,868,048 43.14% CHARGES FOR SERVICE 190,700 69,624 36.51% FINES AND FORFEITURES 221,500 109,686 49.52% MISCELLANEOUS REVENUE 360,800 113,698 31.51% TRANSFERS IN 2,896,450 1,414,224 48.83% GENERAL FUND TOTALS $20,625,730 $12,660,807 61.38% 4 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND SECOND QUARTER 2001-2002 Property Taxes Franchise Taxes i 9% dip I 44%W S 56% I 91% 1 I r . _ 91 %of Property taxes Revenues has been received compared to B7%fm second ran ise Fees are being receive• -ighty more than anbapate• quarter last year. realized. Last year's second quarter receipts were 49%of the budgeted amount i • Utility Taxes I Licenses&Permits • 19% iihno • a 47% ' • : 53%a • i I 81% Ufildy Taxes are being received slightly below anticipated with 47%reeked. This 81%of the revenue from Licenses and Permits has been received. This s greater is slightly down from the 49%received last year at this time. than the 59%realized last year in the second quarter. 5 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND SECOND QUARTER 2001-2002 Intergovernmental Revenue Charges for Services 5 043% 37% 7%a 63% 43%of Intergovernmental Revenue has been received. This is below the Charges for Services are being realized below anticipated with 37% 47%received for the second quarter last year. received compared with 38%received in the second quarter last year. Fines and Forfeitures Miscellaneous Revenue 32% 50%. •50% 68% Fines and Forfeitures are as anticipated with 50%received. This is down Miscellaneous Revenues are being realized below anticipated,with only from 53%collected in the second quarter last year. 32%received. This is due primarily to the drop in interest revenues. 6 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND SECOND QUARTER 2001-2002 Fund Transfers •49% 51% Fund Transfers are made on a monthly basis and are dose to expected. 7 CITY OF OCOEE RESIDENTIAL BUILDING PERMIT ACTIVITY 45 40 35 30 25 20 1 1 11111 October November December January February March April May June July August September ■Fiscal Year 99-00 ■Fiscal Year 00-01 0 Fiscal Year 01-02 8 CITY OF OCOEE COMMERCIAL BUILDING PERMIT ACTIVITY 6 5 4 3 2 1 0 October November December January February March April May June July August September ■Fiscal Year 99-00 ■Fiscal Year 00-01 0 Fiscal Year 01-02 9 CITY OF OCOEE SECOND QUARTER EXPENDITURE COMPARISON GENERAL FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Second Quarter Expenditures Second Quarter Expenditures Transfers Out Capital Outlay Transfers Out Capital Outlay 10.5% Operating 1.4% 9.1 ° Operating �� Expenses Expenses 17.1 16.6% Personal Services Personal Services 71.5% 72.4% 10 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT GENERAL FUND SECOND QUARTER 2001/2002 BUDGET EXpE gap -: ` E T DEPARTMENT AMOUNT SECONQQUARTERSED -f .,1 511-00 Legislative $189,657 $116,473 61% 512-00 City Manager 244,120 107,268 44% 512-02 Information Systems 326,209 147,934 45% 512-10 City Clerk 257,762 126,341 49% 513-00 Finance Administration 618,285 305,983 49% 513-30 Human Resources 385,365 189,162 49% 514-00 Legal 381,059 103,363 27% 515-00 Planning 560,290 264,641 47% 516-00 General Government Services 2,852,717 968,109 34% 517-00 Public Works Administration 244,929 124,756 51% 519-00 Building Maintenance 315,855 141,857 45% 521-00 Law Enforcement 5,406,180 2,500,073 46% 522-00 Fire Control 3,612,985 1,706,515 47% 524-00 Protective Inspections 926,945 437,831 47% 529-00 Communications 664,585 315,830 48% 539-00 Cemetery 3,000 161 5% 541-10 Public Works-Traffic Operations 179,632 65,392 36% 541-20 Public Works-Street Maintenance 1,065,460 443,617 42% 541-30 Public Works-Park Maintenance 739,369 338,432 46% 541-40 Public Works-Fleet Maintenance 69,805 37,732 54% 572-00 Recreation 932,045 334,177 36% 574-00 Community Relations 339,175 140,524 41% Budgeted Reserve 310,301 0 0% TOTAL GENERAL FUND $20,625,730 $8,916,171 43% 11 CITY OF OCOEE CAPITAL PURCHASE REPORT FISCAL YEAR 2001-2002 SECOND QUARTER DEPARTMENT ITEM PURCHASED BUDGETED ACTUAL DIFFERENCE AMOUNT COST INFORMATION SYSTEMS DESKTOP COMPUTER (4) $8,400.00 $6,733.43 $1,666.57 INFORMATION SYSTEMS LAPTOP COMPUTER $2,800.00 $2,484.47 $315.53 CITY CLERK DESKTOP COMPUTER (4) $8,400.00 $8,318.68 $81.32 FINANCE DESKTOP COMPUTER (6) $12,600.00 $12,555.88 $44.12 FINANCE LAPTOP COMPUTER $2,800.00 $2,447.10 $352.90 PLANNING DESK OP COMPUTER (6) $12,600.00 $11,628.84 $971.16 FIRE CONTROL DESKTOP COMPUTER $2,100.00 $2,078.56 $21.44 FIRE CONTROL LAPTOP COMPUTER (2) $7,400.00 $6,345.94 $1,054.06 12 CITY OF OCOEE GENERAL FUND BUDGET TRANSFERS FISCAL YEAR 2001-2002 SECOND QUARTER OERARTTRANS ; .ACCOUNT NUMBER ACCOUNT j, "` BUDGETTRANSFER '.TRANSFERRED FROM TRANSFERRED'TU = 1 "a . : 'C. NSFE 4.> . L'AYA710N LEGISLATIVE 001-516-00-4900 001-511-00-6400 518,869.88 CHAIRS-CITY CHAMBERS CONTINGENCY EQUIPMENT 13 Z w W Ei O Ct NI A‘OR•COMMISSIONER Ocoee C6l`I FR OF GOOD Llt'N G-PRIDE OF WEST ORANGE S.SCO'IT V ANDERGRIFT �\ ci CITY OF OCOEE DAANNYHOWELL p SCOTT ANDERSON D Isp V_LULsaane DRrvr, RUSTY JOHNSON n U 0101 E,FLORIDA 34761 2258 NANCY I.PARKER �4. a� ta0, 656-832 fP Oi G000 CITY MANAGER 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 55.00 per Equivalent Residential Unit (ERU). The Stormwater fund is divided into two divisions- Ctilitc 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 do Islon is responsible for vegetation control in and around the ponds, swales and wet areas. This division repairs the pipes, inlets ar,d fencing that surrounds these areas. Currently there are 438 employees in this fund. As of March 31, 2002 there 'vere 8897 Stormwater accounts compared to 8555 accounts at March 31, 2001 representing a 5% increase in customer base. The Stormwater fund budget for fiscal vear 2001 2002 is Sl_166,370. Revenue Analysis Current year revenue receipts are detailed on page 15 and charted on pages 16, Stormwater Fund revenues are 53% realized overall compared to 5 I Sr for second quarter last year. Charges for Services (S568,804) are 51% realized. .Interest Earnings are below anticipated with 40% realized. Expenditure Analysis Page 18 contains pie charts indicating the composition of expenditures for second quarter 2000/2001 and 2001/2002 for the Storm :ter Fund. The Budget versus Expenditure report (page 18) shows the amount spent and percentage of the budget the amount represents for the quarter. Expenditures for the Stormwater Fund are 39% 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 $213,830. Funds are also transferred to the Utility Inspections division to cover the cost of the Drainage Inspector, POW 14 CITY OF OCOEE REVENUE ANALYSIS STORMWATER UTILITY FUND SECOND QUARTER 2001-2002 REVEL 11E,., gro e P , DESCRIPTION AMOUNT ` SE .® 1%TARTE BEGINNING CASH BALANCE $50,000 $50,000 100.00% CHARGES FOR SERVICES 1,105,000 568,875 51.48% MISCELLANEOUS REVENUE 11,370 4,566 40.16% STORMWATER UTILITY FUND TOTALS $1,166,370 $623,441 53.45% 15 Stormwater Fund Revenues Second Quarter 46.5%• -53.5% Stormwater Fund Revenues are currently being received slightly above anticipated, with 53.5% realized, 16 CITY OF OCOEE SECOND QUARTER EXPENDITURE COMPARISON STORMWATER UTILITY FUND FY00/01 - FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Second Quarter Expenditures Second Quarter Expenditures Transfers Out Personal Services Personal Services 51.4% 29.0%�0 Transfers Out11 ;1 26% 55% 19.6% 19% Operating Expenses Operating Expenses 17 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT STORMWATER FUND SECOND QUARTER 2001/2002 DEPARTMENT AMOUNT r 'SECO D ;. 4 1- ,a 538-10 Engineering/Inspections $697,300 $263,318 38% 538-20 Utility Operating 469,070 194,660 41% TOTAL STORMWATER FUND $1,166,370 $457,678 39% 18 A Z 4, C4 W F d w F ct d' W F 3 MAYOR•COMMISSIONER OCOOO (EVI LN or Goon I LIVING-PRIMOF REST ORANGE' S.SCOTT V ANDERGR IFr 6" 's \° CITY OF OCOEE CGnmsiONexs DANNYHOWElu Q SCO IT ANDERSON n N .0 . 150V. L K H(RIDRnL OCOEE, 61-225F TUC)656-232+ RUSTY JOHNSON NASY I PARKER '. e. Or 0000 CFI) MANAGER 1AMES GLEASON Water/Wastewater Utility Fund The Water/Wastewater fund is an enterprise fund. Operations of tins 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 March 31, 2002 respectively compared to 9271 and 5224 customers at March 31, 2001. This represents a 54(. increase for Water and a 7% increase for Wastewater customer base. Revenue Analysis Current year revenue receipts are detailed on page 20 and charted on pages 21. Revenue for the Water/Wastewater Fund is 53.4% realized compared to 60.65E for second quarter last year. Water Utility Fees (S1,021,923) are 49% realized while Wastewater Utility Fees (S1,115.0591 are 50C realized. Revenue and Maintenance Fees include annual and monthly billings for Water (26% realized) and Wastcwuter t43`8 realized). Receipts for Water Connection Fees and Other Water Charges (cut-off/cut-on activity and late fees) are 3i'7I and 44c( respectively. Interest earnings are 34% 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 second quarter 2000/2001 and 2001/2002. The Budget versus Expenditure report {page 23) shows the amount spent and percentage of the budget the amount represents for the quarter. Actual expenditures for the second quarter are 499c overall. The public relations campaign and water rate study are funded in professional sus ices 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. PoWr19 CITY OF OCOEE REVENUE ANALYSIS REPORT WATER/WASTE WATER UTILITY FUND SECOND QUARTER 2001-2002 • REVENUE ,ffa.is „ HUF:p ry ... i7 < o s " eg DESCRIPTION -,,A?4QIJNT BEGINNING CASH BALANCE $575,000 $575,000 100.00% TAXES 201,180 99,142 49.28% CHARGES FOR SERVICES 4,717,000 2,281,516 48.37% MISCELLANEOUS REVENUE 60,100 20,191 33.60% TRANSFERS IN 191,840 95,916 50.00% WATER UTILITY FUND TOTALS $5,745,120 $3,071,765 53.47% 20 Water/Wastewater Fund Revenues Second Quarter 46.5%41110 53.5% Water and Wastewater revenues are being received at above anticipated. 21 CITY OF OCOEEE SECOND QUARTER EXPENDITURE COMPARISON WATER/WASTEWATER UTILITY FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Second Quarter Expenditures Second Quarter Expenditures Personal Services 34.9% Transfers Out 39.5% Transfers Out 34.5% 35.0% Personal Services Capital Outlay 25.5% 1.7% Operating Expenses Operating Expenses 28.9% 22 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT WATER/WASTEWATER FUND SECOND QUARTER 2001/2002 DEPARTMENT AMOUNT "' S [ . ER iµ - 531-00 WaterWastewater Administration $536,020 $237,668 44% 533-00 Water Operating 2,700,115 1,356,560 50% 535-00 Wastewater Operating 2,032,550 967,544 48% 537-00 Utility Inspections 319,280 151,732 48% TOTAL WATER/WASTEWATER FUND $5,587,965 $2,713,504 49% 23 A 4 w W Ei Ct 4 A II Ii O 9 MAC OR•COMMISSIONER Owes 'CENTER ER UY GOOD[IVING-PRIDE OF WEST ORANGE' S.SCOTT V ANDERGRIFT O` w4 �� ANNYCOMMI HOWE jwit, CITY OF OCOEE DANNv noNERS SCOTI'ANDERSON v O Jn N' L1KfSIlORL DRIVE n p OCOekFIOR!DA 34761-2258 RUSTY IOHNSON NANCY J. PARKER 1'r t10 )6�6322 FO o 0000 CITY 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. 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 8184 solid waste residential accounts at March 31, 2002 compared with 8004 accounts at March 31, 2002 representing a 24c increase_ The budget for fiscal year 2001/2002 is S1,952,370. Revenue Analysis Current year revenue receipts are detailed on page 25 and charted on pages 26. Solid Waste Fund revenues are 46.5% realized compared with 51 9c-b for second quarter last year. Solid Waste Fees ($791,092) are 45% realized which is below anticipated. Franchise Fee revenue (S 107.428) is 63% realized. Interest earnings at$8092 are only 25% realized. Expenditure Analysis Page 27 contains pie charts indicating the composition of expenditures for second quarter 2000/200/ 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 second quarter arc 43% of budgeted. Principal and interest payments for garbage trucks, a pick up truck, and a recycle truck arc budgeted in this fund. POW! 24 CITY OF OCOEE REVENUE ANALYSIS REPORT SOLID WASTE UTILITY FUND SECOND QUARTER 2001-2002 REVENUE BUDGET {' DESCRIPTION AMOUNT1 # $ECQND'QU4FRTER , ZED<' FRANCHISE FEES $170,255 $107,428 63.1% CHARGES FOR SERVICES 1,750,000 791,092 45.2% MISCELLANEOUS REVENUE 32,115 8,543 26.6% SOLID WASTE FUND TOTALS $1,952,370 $907,063 46.5 25 Solid Waste Fund Revenues Second Quarter go 46.5% 53.5%IIIIh Solid Waste revenues are being received slightly less than anticipated. 26 CITY OF OCOEE SECOND QUARTER EXPENDITURE COMPARISON SOLID WASTE UTILITY FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Second Quarter Expenditures Second Quarter Expenditures Transfers Out Personal Services 4019.2% 36.9% Transfers Out 31.9% 23.3% Personal Services ad. Operating Expenses Operating Expenses 43.9% 44.8% 27 SUPPLEMENTAL INFORMATION MAYOR•COMMISSIONER (coo) "(EMIR OF GOOD((WINO-PRIDE(IF ILF.S"I ORANGE' S.SCOTT V AN DERGR IFT Ty Commusiu.VERS ® CIy y Oyu OCOEE DANNY HOWELL SCOTT ANDERSON � 150 N.LAKESHORE DRIVE OCOEE.FLORIDA 347612258RUSTY IOHNSON NANCY J_PARKER (407)656-2322 F 000 CITY MANAGER JAMES 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 $51,820 000 in outstanding debt. The investment portfolio contained $16,534,559 at March 31, 2002 and is detailed on pages 35. Funds are invested in government backed notes and mutual funds. All investments are in accordance with the City's adopted investment policy. Funds necessary for operations are taken from the investments in a timely manner. Impact Fee activity is detailed on pages 36-39 for Road, Fire, Police, and Recreation. Debt Service is currently paid out of road impact fees (Clarke Road and the 1998 Transportation Bond Issue), police impact fees (police building-current/future), fire impact fees (fire stations), and recreation impact fees (recreation facility). POW 29 CITY OF OCOEE GENERAL CAPITAL PROJECTS SECOND QUARTER FY 2001-2002 BUDGETED EXPENSE$ , PERGFMT _ , AT '' PROJECT NAME FUNDS r = ASOF3.2o' .02s,o,+�:i�:-I ., „iNa-R�Y „ 4 cutoN' FIRE STATION #1 $3,476,513 $685,828 19.7% ACTIVE 99-2003 POLICE STATION $425,000 $117,978 27.8% ACTIVE 99-2002 BEECH MULTIPURPOSE FACILITY PHASE 2 - (AQUATIC CENTER) $1,346,771 $1,107,963 82.3% ACTIVE 99-2002 PARK LAND-SOUTH $891,250 $572,556 64.2% ACTIVE 99-2003 STARKE LAKE CAMPUS PLAN $100,000 $68,207 68.2% ACTIVE 2000-02 PUBLIC WORKS FACILITY $1,640,262 $1,640,262 100.0% INACTIVE 98-2001 STARKE LAKE FISHING PIER $47,614 $47,614 100.0% INACTIVE 2000-01 SOCCER FIELD-BEECH CENTEF $21,284 $21,284 100.0% INACTIVE 2000-01 30 CITY OF OCOEE TRANSPORTATION CAPITAL PROJECTS SECOND QUARTER FY 2001-2002 r .. PROJECT NAME FONDSBUDGETED EXI ` e�c � � `9q 1 z...3„t r - AS OF'3-§'� 02 . . -' 4 •_`i tv® .d" '�'e�a��S PN� MAGUIRE ROAD- PHASE 1- 4 $13,421,275 $9,550,623 71.2% ACTIVE 97-2002 PROFESSIONAL PKWY PROJECT $4,474,852 $2,188,753 48.9% ACTIVE 98-2003 OLD WINTER GARDEN ROAD $2,723,825 $217,964 8.0% ACTIVE 99-2003 A.D. MIMS/WURST ROAD PROJECT $848,901 $638,307 75.2% ACTIVE 99-2002 MAINE STREET PROJECT $30,670 $30,670 100.0% INACTIVE 98-2001 WHITE ROAD/ORLANDO AVE $465,610 $465,610 100.0% INACTIVE 98-2001 31 CITY OF OCOEE STORM WATER CAPITAL PROJECTS SECOND QUARTER FY 2001-02 ;,,BUDGETED ``: E,XPER$ v:. ,'" :_ ` • y i s PROJECT NAME FUNDS `ASOF'3:311: 2M , - s '. IJ . . 1 �. . ®C PIONEER KEY II $150,000 $149,323 99.5% ACTIVE 2000-02 STARKE LAKE DRAIN WELLS $250,000 $36,224 14.5% ACTIVE 2000-02 REFLECTIONS SUBDIVISION $70,000 $65,963 94.2% ACTIVE 2000-02 LAKE OLYMPIA/STARKE LAKE $17,000 $11,338 66.7% 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 SECOND QUARTER FY 2001-2002 CUM 4WE s IJ ,-[e= x ,, BUDGETED,. 1 "d+ I.i A9• ` f�DTIYv i e gg,, PROJECT NAME FUNDS AS OF 1• . ,1. t U 1i111ACTI -t *-`a .$7 , WATER DISTR I BUT IONSYSTEM (PHASES I, II, III) $3,655,700 $3,132,559 85.7% ACTIVE 97-2002 REUSE WATER PROGRAM $4,436,523 $4,436,523 100.0% INACTIVE 97-2000 EFFLUENT DISPOSAL SYSTEM $432,400 $354,608 82.0% ACTIVE 98-2002 MAINTENANCE FACILITY $662,507 $662,507 100.0% INACTIVE 98-2000 REUSE RETROFIT PROGRAM $117,764 $117,764 100.0% INACTIVE 99-2001 MISCELLANEOUS WTP PROJECTS $18,580 $18,580 100.0% INACTIVE 98-2001 MAGUIRE ROAD UTILTY LINE $500,000 $659,686 131.9% ACTIVE 2000-02 MAGUIRE RD PUMPING STATION $1,000,000 $8,936 0.9% ACTIVE 2002-03 33 CITY OF OCOEE DEBT STATEMENT AS OF MARCH 31 , 2002 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 MARCH 31, 2002 /1'" INVESTMENT PORTFOLIO ,,">VAsQKLUE ',-. . 71 .N "12 ' >./aLUE } t;:i: , 1 , MERRILL-LYNCH MUTUAL FUNDS $314,302 $4,375 $312,546 5.60% ACCOUNT 86M-04A01 MERRILL-LYNCH MUTUAL FUNDS $4,352,938 $28,288 $1,912,214 5.60% ACCOUNT 86M-04A02 MERRILL-LYNCH MUTUAL FUNDS $4,207,364 $34,433 $3,196,042 5.60% ACCOUNT 86M-04A03 MERRILL-LYNCH MUTUAL FUNDS $55,467 $771 $55,213 5.60% ACCOUNT 86M-04A04 MERRILL-LYNCH MUTUAL FUNDS $189,013 $2,635 $188,136 5.60% ACCOUNT 86M-04A05 RAYMOND JAMES SECURITIES $721,119 $9,524 $591,142 5.38% ACCOUNT 10041873 RAYMOND JAMES SECURITIES $0 $1,061 $1,591,301 3.02% ACCOUNT 11129676 STI CLASSIC FUNDS SECURITIES $11,729 $41 $11,770 1.45% SUNTRUST TREASURY NOTES $695,170 $6,207 $1,992,895 1.50% ACCOUNT 4494 SUNTRUST TREASURY NOTES $5,526,876 $55,524 $8,274,601 3.02% ACCOUNT 4444 GRAND TOTALS $16,073,978 $141,798 $16,534,559 * NEW ACCOUNT AS OF 1/23-02 35 CITY OF OCOEE IMPACT FEE STATUS REPORT SECOND QUARTER - FISCAL YEAR 2001-2002 FUND 106 ROAD IMPACT FEES BALANCE FORWARD $7,712,195 CURRENT QUARTER REVENUE $243,310 CURRENT QUARTER EXPENDITURE ($378,849) ENCUMBERED $0 INTEREST EARNED $70,361 ENDING BALANCE AT 03/31/02 $7,647,017 36 CITY OF OCOEE IMPACT FEE STATUS REPORT SECOND QUARTER-FISCAL YEAR 2001-2002 FUND 107 FIRE IMPACT FEES RESTRICTED BALANCE FORWARD $1,863,352 $72,436 CURRENT QUARTER REVENUE RESIDENTIAL $42,111 $16,264 NON RESIDENTIAL $1,943 $0 TOTAL CURRENT QUARTER REVENUE $44,054 $16,264 CURRENT QUARTER EXPENDITURE RESIDENTIAL ($67,464) $0 NON RESIDENTIAL $0 $0 TOTAL CURRENT QUARTER EXPENDITURE ($67,464) $0 ENCUMBERED $0 $0 INTEREST EARNED $1,464 $284 ENDING BALANCE AT 03/31/02 $1,841,406 $88,984 " Restricted funds are comprised of Windermere R & R 37 CITY OF OCOEE IMPACT FEE STATUS REPORT SECOND QUARTER - FISCAL YEAR 2001-2002 FUND 108 POLICE IMPACT FEES BALANCE FORWARD $371,538 CURRENT QUARTER REVENUE RESIDENTIAL $19,961 NON RESIDENTIAL $663 TOTAL CURRENT QUARTER REVENUE $20,624 CURRENT QUARTER EXPENDITURE ($16,117) ENCUMBERED $0 INTEREST EARNED $1,006 ENDING BALANCE AT 03/31/02 $377,051 38 CITY OF OCOEE IMPACT FEE STATUS REPORT SECOND QUARTER - FISCAL YEAR 2001-2002 FUND 110 RECREATIONAL IMPACT FEE BALANCE FORWARD $670,699 CURRENT QUARTER REVENUE $34,000 CURRENT QUARTER EXPENDITURE ($150,000) ENCUMBERED $0 INTEREST EARNED $689 ENDING BALANCE AT 03/31/02 $555,388 39