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III (E) Third Quarter Financial Report Agenda 8-20-2002 center of Good Ci,: Item ill E Vlo� II •(he rp�. S Nruii A':uul1.1:2nh •- 14mnt Ilrnt cll. Ilcn'in 4� Scull An run. 111 n iri 2 t'nV Alanagrr ® °, j l�_ )' Rtmt •I h t un. 01 1 nut -Inn l llt -un '�! _ S:m I a 'Lrr'. Pr i 'ir1 I MEMORANDUM TO: The Honorable Mayor and Board of City Commissioners FROM: Wanda B. Horton, Finance Director _)/;/f J DATE: August 13, 2002 RE: Quarterly Financial Review, Third Quarter FY02 Finance has completed its evaluation and analysis of the FY02 third quarter revenues and expenditures. The report will be on the August 20, 2002 consent agenda. Should you have any questions or want additional information, please give Donald Carter or me a call. City of Ocoee • 150 N Lakeshore Drive•Ocoee, Florida 34761 phone: (407)905-3100•fax: (407)656-8504 •mvry ci ococe.fl us CITY OF OCOEE QUARTERLY REPORT THIRD QUARTER FISCAL YEAR 2001 -2002 WV Prepared by the Finance Department May, 2002 TABLE OF CONTENTS Quarterly Overview i-ii 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 20 Revenue Graph 21 Expenditure Comparison Graphs 22 Expenditure Analysis Report 23 Solid Waste Fund 24 Revenue Analysis Report 15 Revenue Graph 26 • Expenditure Comparison Graphs 27 Expenditure Analysis Report '8 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 She Centex of Good LI vjO e, Mayor "11.''•,•,Z..� iCl!- � Commissioners S. Scott Vandergrift %S Danny Howell, District 1 C E t 1 Scott Anderson, District 2 City Manager Rusty Johnson, District 3 Jim Gleason Nancy J. Parker, District 4 Quarterly Financial Report Fiscal Year 2001/2002 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 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 4.6564 mils. The city currently employs 320 individuals. • 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, May, and June 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 City of Ocoee• 150 N Lakeshore Drive•Ocoee, Florida 34761 Phone:(407)905-3100• fax: (407)656-8504 •www.ci.ocoee.fl.us 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. 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. 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 1 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 General Fund $16,560,995 $13,354.910 StormWater Utility $910,897 $686,194 Water/Wastewater Utility $4,445,491 $4,037,869 Solid Waste Utility $1,384374 $1,218,254 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. 11 GENERAL FUND Mayor Cet tet Of GroOd LIU' Commissioners S. Scott Vandergrift `S ....ma.-� >•.�'Tx 7ng Danny Howell, District 1 . "� •IC. .-„` Scott Anderson, District 2 City Manager /° Rusty Johnson, District 3 Jim Gleason / © C•'�® Nancy-J. Parker, District 4 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 third quarter fiscal years 2000/2001 and 2001/2002 revenue receipts in dollars are higher for the current year third 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 80% realized compared to 79%at the end of third quarter last year. Receipts for Property Taxes are $4,682,048 (97.6%) collected this fiscal year compared with $4,270,149 for last year. Franchise Tax receipts consisting of revenues from electric, telephone, and gas, are above anticipated at 79.4% realized. Revenue for Utility Taxes($1,288,692) is below anticipated with 69.5%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 78 residential and 5 commercial building permits issued for third quarter FY2002 compared with 69 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 third quarter FY2002 are below anticipated with 70.75%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 third quarter reimbursement request of$61,674.71 has not been received yet. Municipal Revenue Sharing, and Half-Cent Sales Tax have been received below original budget but as anticipated subsequent to September I P". ,_ Other Governmental Revenue consists of the Local Law Enforcement Block Grant (LLEBG) and a Byrne Grant for the police department. This revenue is 32% 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 68.1% realized. Fines and Forfeitures at 67% collected ($150,404) and False Alarm Fees at 66%collected ($8,890) are below anticipated. Miscellaneous Revenue consisting of returned check charges, special street lighting fees, and administrative fees for police security is 45.25% realized. Interest earnings are only 30% realized with $76,203 earned. Transfers in are as anticipated with 73.48% realized. Expenditure Analysis Page 10 contains pie charts indicating the composition of expenditures for third quarter 2000/2001 and 2001/2002 for the General Fund. The Budget versus Expenditure report (page 1 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 65%of budgeted. Capital Outlay expenditures for General Fund are detailed on page 12. Blanket purchase orders continue to be utilized to help expedite receipt of goods and services necessary for the day to day operations of the City. Budget transfers authorized by the City Commission from contingency appear on page 13 for the quarter. 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 Iih tragedy. 2 CITY OF OCOEE THIRD 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 -- — $0 rt PROPERTY TAX FRANCHISE TN{ MLIIVTAX LICENSE PERMITS INTER- CHARGES FOR FINES FORFEITURES MSRELLANE0,.5 TRANSFERS GOVERNMENTAL SERVICES REVENUE REVENUE 0 Fiscal Year 00-01 I•Fiscal Year 01-02'. 3 CITY OF OCOEE REVENUE ANALYSIS REPORT GENERAL FUND THIRD QUARTER 2001-2002 VE , , B 1. i # ` ,, RECEIVED:, . ,PERCENTAGE 2. »rt ® .s511 , , �. .AMQ a :11 ab QUARTER - ' = REALIZED BEGINNING CASH BALANCE $1,150,000 $1,150,000 100.00% PROPERTY TAXES 4,795,130 4,682,048 97.64% FRANCHISE TAXES 1,360,580 1,080,693 79.43 '-- UTILITY TAXES 1,854,220 1,288,692 69.50% LICENSES AND PERMITS 1,148,500 1,084,070 94.39% INTERGOVERNMENTAL REVENUE 6,647,850 4,703,482 70.75% CHARGES FOR SERVICE 190,700 129,897 68.12% FINES AND FORFEITURES 221,500 150,404 67.90% MISCELLANEOUS REVENUE 360,800 163,277 45.25% TRANSFERS IN 2,896,450 2,128,432 73.48% GENERAL FUND TOTALS $20,625,730 $16,560,995 80.29% 4 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND THIRD QUARTER 2001-2002 • • Property Taxes Franchise Taxes • 2.4% 20.6% • 97.6% • 79.4% • 97.6%of Property Tax Revenue has been received compared to 96.6% Franchise Fees are being received slightly above anticipated.with 79.4% for the third quarter last year. received. This is above the 72%realized last year at this time. Utility Taxes Licenses & Permits • • 5.6% • 30.5% • 69.5% • 94.4% Utility Taxes are being received below anticipated,with 69.5%received. This 94.4%of the revenue from Licenses and Permits has been received. This is is below the 70.9% realized third quarter last year. greater than the 73.6% realized last year in the third quarter. 5 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND THIRD QUARTER 2001-2002 • Intergovernmental Revenues Charges for Services • • • • 29.2% 31.9% • • • 70.8% 68.1°/ 70.8%of Intergovernmental Revenues has been received. This is relatively Charges for Services are being realized below anticipated,with 68.1%recei, the same as third quarter last year. compared with 56.8% received in the third quarter last year. Fines & Forfeitures I Miscellaneous Revenue 32.1% i 45.3% • 54.7% 67.9% Fines and Forfeitures are being realized below anticipated,wtth67.9% received Miscellaneous Revenues are well below anticipated at 45.3% realized. This compared with 61.4%received in the third quarter last year. due primarily to the downturn in investment income. 6 CITY OF OCOEE REVENUE GRAPHS GENERAL FUND THIRD QUARTER 2001-2002 Fund Transfers 26.5% 73.5% Fund Transfers are made on a monthly basis and are close to expected. 7 CITY OF OCOEE RESIDENTIAL BUILDING PERMIT ACTIVITY 45 40 35 30 25 20 15 - 10 s 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 • CITY OF OCOEE COMMERCIAL BUILDING PERMIT ACTIVITY 6 Ii 5 4 f _. ._ 1it] 0 October November December January February March April May June July August September •Fiscal Year 99-00 ■Fiscal Year 00-01 ❑Fiscal Year 01-02 9 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON GENERAL FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Third Quarter Expenditures Third Quarter Expenditures 104% 1.7% Capital Outlay 8.3% Capital Outlay Transfers Out 1.7% Transfers Out Operating Operating Expenses Expenses 17.2% 18.4% Personal Services Personal Services 69.5% 72.8% 10 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT GENERAL FUND THIRD QUARTER 2001/2002 ` ' i •GET 1 k" P '4SED.. PERCENT , rx F ..� : . � � �" .a `�L UN DARTER '1t FUSED .` .< 511-00 Legislative $215,157 $163,799 76% 512-00 City Manager 244,120 171,954 70% 512-02 Information Systems 328,109 221,794 68% 512-10 City Clerk 257,762 184,669 72% 513-00 Finance Administration 618,285 445,537 72% 513-30 Human Resources 385,365 277,617 72% 514-00 Legal 381,059 185,454 49% 515-00 Planning 560,290 399,489 71% 516-00 General Government Services 2,827,217 1,353,605 48% 517-00 Public Works Administration 244,929 179,486 73% -- 519-00 Building Maintenance 315,855 209,026 66% 521-00 Law Enforcement 5,406,180 3,725,995 69% 522-00 Fire Control 3,614,909 2,541,663 70% 524-00 Protective Inspections 926,945 657,977 71% 529-00 Communications 664,585 475,674 72% 539-00 Cemetery 3,000 231 8% 541-10 Public Works-Traffic Operations 179,632 101,300 56% 541-20 Public Works-Street Maintenance 1,065,460 664,821 62% 541-30 Public Works-Park Maintenance 739,369 512,632 69% 541-40 Public Works-Fleet Maintenance 69,805 52,945 76% 572-00 Recreation 932,045 598,575 64% 574-00 Community Relations 339,175 230,667 68% Budgeted Reserve 306,477 0 0% TOTAL GENERAL FUND $20,625,730 $13,354,910 65% 11 CITY OF OCOEE CAPITAL PURCHASE REPORT FISCAL YEAR 2001-2002 THIRD QUARTER DEPARTMENT ITEM PURCHASED BUDGETED ACTUAL DIFFERENCE AMOUNT COST LEGISLATIVE CARPETING IN CHAMBERS $5,000.00 $3,915.39 $1,084.61 LEGISLATIVE SEATING CHAIRS IN CHAMBERS $18,897.07 $18,897.07 $0.00 LEGISLATIVE LAPTOP COMPUTER & PRINTER $2,430.00 $2,633.01 ($203.01) CITY MANAGER DESKTOP COMPUTER (3) $6,300.00 $6,052.46 $247.54 INFORMATION SYSTEMS DESKTOP COMPUTER $1,900.00 $1,842.41 $57.59 P W ADMINISTRATION DESKTOP COMPUTER (3) $6,300.00 $6,117.60 $182.40 LAW ENFORCEMENT-BOXING DESKTOP COMPUTER $2,200.00 $1,983.92 $216.08 FIRE CONTROL DESKTOP COMPUTER (2) $4,200.00 $3,629.50 5570.50 PROTECTIVE INSPECTIONS DESKTOP COMPUTER (3) $6,300.00 $6,160.08 $139.92 RECREATION-GRANT STARKE LAKE BOAT PARKING $64,000.00 $44,536 68 $19,463.32 RECREATION DESKTOP COMPUTER (3) $6,820.00 $6,366.76 $453.24 COMMUNITY RELATIONS DESKTOP COMPUTER (3) $6,300.00 $6,080.65 $219.35 12 CITY OF OCOEE GENERAL FUND BUDGET TRANSFERS FISCAL YEAR 2001-2002 THIRD QUARTER AL : U OF ti 41'e : dtrRi u�F H e> ``EXPLANATION LEGISLATIVE 001-516-00-4900 001-511-00-6302 S5,000.00 CARPETING IN CHAMBERS CONTINGENCY CAPITAL IMPROVEMENTS LEGISLATIVE 001-516-00-4900 001-511-00-8200 $500.00 DONATION WEST ORANGE HS CONTINGENCY COMMUNITY PROMOTION LEGISLATIVE 001-516-00-4900 001-511-00-4000 $11,000.00 CONFERENCE TRAVEL CONTINGENCY TRAVEL EXPENSE LEGISLATIVE 001-516-00-4900 001-511-00-8204 $9,000.00 BUILDING FUND CONTINGENCY W ORANGE CHAMBER DONATION 13 r C- . I CA O Mayor 2 Center Of Good Lip. Commissioners S. Scott Vandergrift `tom log Danny Howell, District 1 Scott Anderson, District 2 City Manager • Rusty Johnson, District 3 Jim Gleason NCO Nti•- Nancy J. Parker, District 4 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 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 repairs the pipes, inlets and fencing that surround these areas. Currently there are 4'% employees in this fund. As of June 30, 2002 there were 9122 Stormwater accounts compared to 8756 accounts at June 30, 2001 representing a 4.2% increase in customer base. The Stormwater fund budget for fiscal year 2001-2002 is $1,166,370. Revenue Analysis Current year revenue receipts are detailed on page 15 and charted on pages 16. Stormwater Fund revenues are 78.1% realized overall compared to 77.7% for third quarter last year. Charges for Services ($854,484) are 77.3%realized. Interest Earnings are below anticipated with 56.4%realized. Expenditure Analysis Page 17 contains pie charts indicating the composition of expenditures for third 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 the quarter. Expenditures for the Stormwater Fund are 59% 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. 14 CITY OF OCOEE REVENUE ANALYSIS STORMWATER UTILITY FUND THIRD QUARTER 2001-2002 Rev Ci `1%:1:w.SU4GETi :_RECEWED PERCENTAGE , A1 IRD QUARTER REALIZED BEGINNING CASH BALANCE S50,000 $50,000 100.00% CHARGES FOR SERVICES 1,105,000 854,484 77.33% MISCELLANEOUS REVENUE 11,370 6,413 56.40% STORMWATER UTILITY FUND TOTALS $1,166,370 $910,897 78.10% 15 Stormwater Fund Revenues Third Quarter 21 .9% S 78.1% Stormwater Fund Revenues are above anticipated, with 78.1% realized.This amount is slightly more than the 77.7% received in the third quarter last fiscal year 16 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON STORMWATER UTILITY FUND FY00/01 - FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 • Third Quarter Expenditures Third Quarter Expenditures Personal Services 25.6% Personal Services Transfers Out Transfers Out 26% 49.8% 54% Operating Expense Operating Expenses 24.6% 20% 17 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT STORMWATER FUND THIRD QUARTER 2001/2002 '� g ` I3UAQAT s At PENSED PERCENT _ ' 0,4 Te 7 IRDQUARTER USED 538-10 Engineering/Inspections $697,300 $394,742 57% 538-20 Utility Operating 469,070 _ 291,452 62% TOTAL STORMWATER FUND $1,166,370 $686,194 59% 18 WATER/WASTEWATER FUND Fp 4 Mayor Center Of Good Liy Commissioners S. Scott Vandergrift `Cb '€fig Danny Howell,District 1 ^�€ `., Scott Anderson, District 2 City Manager `� Rusty Johnson, District 3 Jim Gleason C ® Nancy J. Parker, District 4 Water/Wastewater Utility Fund The Water/Wastewater fund is an enterprise fund. Operations of this fund are financed and managed in a manner similar to private business enterprise. This fund accounts for the operations of the City's water system and wastewater collection and treatment plant. All activities necessary to provide these services are reported in this fund. The 2001/2002 budget for this fund is $5,745,120. There were 9916 and 5900 water and wastewater customers at June 30, 2002 respectively compared to 9536 and 5450 customers at June 30, 2001. This represents a 3% increase for Water and a 2% 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 77.38% realized compared to 80.65% for third quarter last year. Water Utility Fees ($1,604,711) are 77% realized while Wastewater Utility Fees ($1,689,856) are 75% realized. Revenue and Maintenance Fees include annual and monthly billings for Water (40% realized) and Wastewater (65% realized). Receipts for Water Connection Fees and Other Water Charges (cut-off/cut-on activity and late fees) are 74% and 65% respectively. Interest earnings are 45% 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 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 third quarter are 70% 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. 19 CITY OF OCOEE REVENUE ANALYSIS REPORT WATER/WASTE WATER UTILITY FUND THIRD QUARTER 2001-2002 °"s. UDGE71 HECEIVEDI PERCENTAGE 11 . 5 :r . . V< s . . . 1DLNIARTER :. REALIZED BEGINNING CASH BALANCE $575,000 $575,000 100.00% TAXES 201,180 155,800 77.44% CHARGES FOR SERVICES 4,717,000 3,545,018 75.15% MISCELLANEOUS REVENUE 60,100 30,772 51.20% TRANSFERS IN 191,840 138,901 72.40% WATER UTILITY FUND TOTALS $5,745,120 $4,445,491 77.38% 20 Water/Wastewater Fund Revenues Third Quarter 22.6% 77.4% Water and Wastewater revenues are being received above anticipated. Both water fees and wastewater fees reflect this with 77.4% and 75.2% realized. 21 CITY OF OCOEEE THIRD QUARTER EXPENDITURE COMPARISON WATER/WASTEWATER UTILITY FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Third Quarter Expenditures Third Quarter Expenditures Personal Services Transfers Out 39.1% Transfers Out Personal Services 33.6% 34.8% 35.4% Capital Outlay Capital Outlay 0.4% Operating Expenses 1.2% Operating Expenses 26.9% 28.6% 22 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT WATER/WASTEWATER FUND THIRD QUARTER 2001/2002 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT THIRD QUARTER USED 531-00 WaterWastewaterAdministration $693,175 $455,700 66% 533-00 Water Operating 2,700,115 1,873,494 69% 535-00 Wastewater Operating 2,032,550 1,485,371 73% 537-00 Utility Inspections 319,280 223,304 70% TOTAL WATER/WASTEWATER FUND $5,745,120 $4,037,869 70% 23 SOLID WASTE FUND J , hI 4 Mayor e Centet Of Good Commissioners S. Scott Vandergrift 'S� ""��' rhg Danny Howell, District 1 �IF:3... Scott Anderson, District 2 City Manager .. Rusty Johnson, District 3 Jim Gleason ---a�® C ® Nancy J. Parker, District 4 13, 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 8397 solid waste residential accounts at June 30, 2002 compared with 8088 accounts at June 30, 2001 representing a 4% increase. The budget for fiscal year 2001/2002 is $1,952,370. Revenue Analysis Current year revenue receipts are detailed on page 25 and charted on pages 26. Solid Waste Fund revenues are 70.9% realized compared with 78.6% for third quarter last year. Solid Waste Fees ($1,219,573) are 69.7% realized which is below anticipated. Franchise Fee revenue($152,371) is 89.5% realized. Interest earnings at $12,009 are only 38% realized. Expenditure Analysis Page 27 contains pie charts indicating the composition of expenditures for third 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 third quarter are 62% of budgeted. Principal and interest payments for garbage trucks, a pick up truck, and a recycle truck are budgeted in this fund. 24 CITY OF OCOEE REVENUE ANALYSIS REPORT SOLID WASTE UTILITY FUND THIRD QUARTER 2001-2002 DDra e ;,RECEIVED`, PERCENTAGE ;4 `0 i� F IRbtOUARTER REALIZED FRANCHISE FEES $170,255 $152,371 89.5% CHARGES FOR SERVICES 1,750,000 1,219,573 69.7% MISCELLANEOUS REVENUE 32,115 12,430 38.7% SOLID WASTE FUND TOTALS $1,952,370 $1,384,374 70.9% 25 Solid Waste Fund Revenues Third Quarter z9.1"/o 4/1. 70.9% Solid Waste revenues are below anticipated, with franchise fees at 89.5%. 69.7% of sanitation fees have been collected compared to 73.6% for third quarter last year 26 CITY OF OCOEE THIRD QUARTER EXPENDITURE COMPARISON SOLID WASTE UTILITY FUND FY00/01-FY01/02 Fiscal Year 00-01 Fiscal Year 01-02 Third Quarter Expenditures Third Quarter Expenditures Transfers Out Personal Services 32.2% Transfers Out Personal Services 16.5%ee 5% s a Operating Expenses Operating Expenses 51.3% 43.1% 27 CITY OF OCOEE EXPENDITURE ANALYSIS REPORT SOLID WASTE FUND THIRD QUARTER 2001/2002 BUDGET EXPENSED PERCENT DEPARTMENT AMOUNT THIRD QUARTER USED 534-10 Solid Waste-Residential $1,444,675 $896,551 62% 534-20 Solid Waste-Recycling 336,990 214,924 64% 534-30 Solid Waste-Yard Waste 170,705 106,779 63% TOTAL SOLID WASTE UTILITY FUND $1,952,370 $1,218,254 62% 28 SUPPLEMENTAL INFORMATION J Mayor e Center of Good L16. Commissioners S. Scott Vandergrift 'S� �� "'-+, I�g Danny Howell, District 1 ^it"i .'� Scott Anderson, District 2 City Manager 1,.v. -> > • Rusty Johnson, District 3 Jim Gleason �> C,J& Nancy J. Parker, District 4 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 $15,809,999 at June 30, 2002 and is detailed on pages 35. Funds are invested in government backed notes, securities 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). 29 CITY OF OCOEE GENERAL CAPITAL PROJECTS THIRD QUARTER FY 2001-2002 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME "' FUNDS AS OF6-30-02 USED INACTIVE COMPLETION FIRE STATION#1 $3,476,513 $703,502 20.2% ACTIVE 99-2003 POLICE/MODULAR BUILDING $425,000 $286,997 67.5% ACTIVE 99-2002 BEECH MULTIPURPOSE FACILITY PHASE 2- (AQUATIC CENTER) $1,346,771 $1,107,963 82.3% INACTIVE 99-2002 PARK LAND-SOUTH $1,381,821 $572,556 41.4% ACTIVE 99-2003 STARKE LAKE CAMPUS PLAN $100,000 $68,207 68.2% ACTIVE 2000-02 -. COCA COLA PROPERTY $4,000,000 $2,540,858 63.5% ACTIVE 2000-03 30 CITY OF OCOEE TRANSPORTATION CAPITAL PROJECTS THIRD QUARTER FY 2001-2002 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 6-30-02 USED INACTIVE COMPLETION MAGUIRE ROAD- PHASE 1-5 $13,421,275 $10,060,769 75.0% ACTIVE 97-2002 PROFESSIONAL PKWY PROJECT $4,474,852 $2,242,555 50.1% ACTIVE 98-2003 OLD WINTER GARDEN ROAD $2,723,825 $258,438 9.5% ACTIVE 99-2003 A.D. MIMS/WURST ROAD PROJECT $648,901 $621,991 73.3% ACTIVE 99-2002 MAINE STREET PROJECT $30,730 $30,730 100.0% INACTIVE 98-2001 WHITE ROAD/ORLANDO AVE $465,610 $465,610 100.0% INACTIVE 98-2001 31 CITY OF OCOEE STORMWATER CAPITAL PROJECTS THIRD QUARTER FY 2001-02 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/. START DATE/ PROJECT NAME ' FUNDS AS OF 6-30-02 USED INACTIVE COMPLETION PIONEER KEY II $150,000 $149,645 99.8% ACTIVE 2000-02 STARKE LAKE DRAIN WELLS $250,000 $91,514 36.6% ACTIVE 2000-02 REFLECTIONS SUBDIVISION $70,549 $70,549 100.0% 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-?? 32 CITY OF OCOEE WATER/VVASTEWATER CAPITAL PROJECTS THIRD QUARTER FY 2001-2002 CUMULATIVE BUDGETED EXPENSES PERCENT ACTIVE/ START DATE/ PROJECT NAME FUNDS AS OF 6-30-02 USED INACTIVE COMPLETION WATER DISTRIBUTIONSYSTEM (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 UTILITY LINE $700,000 $682,666 97.5% ACTIVE 2000-2002 MAGUIRE RD PUMPING STATION $1,000,000 $287,221 28.7% ACTIVE 2002-2003 33 CITY OF OCOEE DEBT STATEMENT AS OF JUNE 30, 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 Slormwater 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, 2002 r d ° O®fig ixr .s-- ° MAJ?KET t+.t n OURR ,1Ct 4i�- ��.... : ?l'x,1`d;'o, °) ,.. ,7t t,vAi ,`", _ ... . . , oY/AL� E2i : cYEll=o. MERRIL LYNCH MUTUAL FUNDS $3,263,097 $114,632 $3,263,097 4.96% ACCOUNT 64A-04183 MERRIL LYNCH MUTUAL FUNDS 1,969,082 93,006 1,969,082 4.96% ACCOUNT 64A-04184 MERRIL LYNCH MUTUAL FUNDS 319,207 7,679 319,207 4.96% ACCOUNT 64A-04186 MERRIL LYNCH MUTUAL FUNDS 191,847 4,503 191,847 4.96% ACCOUNT 64A-04187 MERRIL LYNCH MUTUAL FUNDS 56,084 1,105 56,084 4.96% ACCOUNT 64A-04188 STI CLASSIC FUNDS MUTUAL FUNDS 11,808 39 11,808 1.28% RAYMOND JAMES SECURITIES 593,398 (1,233) 593,398 ACCOUNT 10041873 RAYMOND JAMES SECURITIES 4,399,749 9,638 4404,949 3.19% ACCOUNT 11129676 SUNTRUST SECURITIES 4,010,498 35,130 4,004,325 3.92% ACCOUNT 4444 SUNTRUST SECURITIES 992,685 4,358 996,200 1.75% ACCOUNT 4494 $15,807,456 $269,056 $15,809,999 35 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2001-2002 FUND 106 ROAD IMPACT FEES BALANCE FORWARD $7,647,017 CURRENT QUARTER REVENUE $94,456 CURRENT QUARTER EXPENDITURE ($379,123) ENCUMBERED $0 INTEREST EARNED $43,839 ENDING BALANCE AT 06/30/02 $7,406,189 36 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER-FISCAL YEAR 2001-2002 FUND 107 FIRE IMPACT FEES RESTRICTED BALANCE FORWARD $1,841,406 $88,984 CURRENT QUARTER REVENUE RESIDENTIAL $26,452 $0 NON RESIDENTIAL $1,053 SO TOTAL CURRENT QUARTER REVENUE $27,505 $0 CURRENT QUARTER EXPENDITURE RESIDENTIAL ($4,362) $0 NON RESIDENTIAL $0 $0 TOTAL CURRENT QUARTER EXPENDITURE ($4,362) $0 ENCUMBERED $0 SO INTEREST EARNED $2,187 $305 ENDING BALANCE AT 06/30/02 $1,866,736 $89,289 •• Restricted funds are comprised of Windermere R 8 R 37 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2001-2002 FUND 108 POLICE IMPACT FEES BALANCE FORWARD $377,051 CURRENT QUARTER REVENUE RESIDENTIAL $12,499 NON RESIDENTIAL $359 TOTAL CURRENT QUARTER REVENUE $12,858 CURRENT QUARTER EXPENDITURE ($16,116) ENCUMBERED SO INTEREST EARNED $993 ENDING BALANCE AT 06/30/02 $374,786 38 CITY OF OCOEE IMPACT FEE STATUS REPORT THIRD QUARTER - FISCAL YEAR 2001-2002 FUND 110 RECREATIONAL IMPACT FEES BALANCE FORWARD $555,388 CURRENT QUARTER REVENUE $22,500 CURRENT QUARTER EXPENDITURE $0 ENCUMBERED $0 INTEREST EARNED $779 ENDING BALANCE AT 06/30/02 $578,667 39