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Fernandina Beach Monthly Budget report for March 2022
Comptroller Pauline TestagroseBy Pauline Testagrose
City of Fernandina Beach Comptroller
April 20, 2022
Overall: This is the sixth report for the fiscal year 2021/2022 and March represents 50.0% of the budgeted fiscal year. All revenue and various grant revenues have been accrued for the month of March. All recurring expenses have been recorded. Annual maintenance and service contracts have been paid. Finance will monitor expenses and prepare budget amendments to ensure budgeted amounts are not exceeded on a line-by-line basis.
General Fund: (001)
Total General Fund revenues are at 76.7% of the annual budget. This is due to Property Taxes and Local Business Tax receipts. Year-to-date Property Tax receipts are $14.6 million dollars or 95.4% of the budget. Local Business Taxes are paid annually and recorded in October. Specific revenue sources we are tracking are detailed below.
General Fund expenses are at 38.0% of the budget. Currently the departments over the 50.0% mark are: City Commission, City Clerk, Information Technology, City Attorney, Parks and Non-departmental. This is primarily due to the payments of annual maintenance and consulting contracts.
Special Revenue Funds: (100 - 190)
As was anticipated, Revenues plus Cash Balance Forward exceed Expenditures for all Special Revenue funds.
Capital Improvement Funds: (300 - 330)
The Capital Improvement Fund - 300, a debt service payment was made in October on the Fire Truck. Payments and or purchase orders have been issued for Beach Monitoring and Reporting, the Tyler Executime Payroll system, police equipment, the City fuel tank, a Skid Steer for Streets, and the Peck Center Repointing Project.
Golf Course: (410)
The Golf system report segregates Golf Operations, Top Tracer, Pro Shop and Food and Beverage. Separate skews were added along with associated costs to track the items sold for Top Tracer. The revised budget represents staff’s latest estimate of both revenues and expenses by cost center. Membership revenue is $61,505 or 61.8% higher than last year.
Airport: (420)
Revenues exceed expenses primarily due to rent and lease payments. The City closed on the loan for the construction of the Fire Station at the Airport and the transactions were recorded in January.
Sanitation: (440)
Revenues exceed expenses for March. This is due to the timing of Sanitation Services expenses.
Wastewater: (450)
As anticipated in the budget, expenses exceed revenues year-to-date primarily due to higher repairs and maintenance costs for buildings, grounds, and vehicles. Wastewater Charges revenue is slightly higher this March versus last fiscal year by $58,835 or 2.2%.
Water: (460)
Revenues exceed expenses year-to-date. Water Charges revenue is higher this fiscal year versus last fiscal year by $80,738 or 4.1%.
Stormwater: (470)
Revenues exceed expenses for March, due to FEMA and State grant revenue.
Marina: (480)
The net contribution, after eliminating the revenue received from FEMA and the transfer from the General Fund, is $164,292. Both Transient Slip Rental and Diesel Fuel sales are above the 50.0% mark. The purchase order has been issued for the Dredging project.
Fleet: (510)
Revenues exceed expenses for March. This fund is meant to be self-supporting.
Utility Billing and Utility Administration: (520 - 530)
It is anticipated in the budget, that Revenues plus Cash Balance Forward exceeds Expenditures in Utility Billing and Utility Administration.
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