By Pauline Testagrose
City of Fernandina Beach Comptroller
November 17, 2021
[Comptroller Testagrose delivered this report at the November 16, 2021 Fernandina Beach City Commission regular meeting.]
Overall: This is the first report for the fiscal year 2021/2022. October represents 8.3% of the budgeted fiscal year. All revenue and various grant revenues have been accrued for the month of October. 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 3.7% of the annual budget. This is due to Local Business Tax, and Intergovernmental receipts. The City will generally start to receive Property Tax payments in November. This is when the largest discount (4%) can be realized by a property owner, if the tax notice is paid before the due date. Local Business Taxes are paid annually and recorded in October. Specific revenue sources we are tracking are detailed below.
General Fund expenses are at 5.9% of the budget. Currently the departments over the 8.3% mark are: City Commission, Finance, Information Technology, Human Resource, Non- departmental and Parks. This is due to the payment 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 have been made for Beach Monitoring and Reporting and a purchase order has been issued for a Skid Steer for Streets.
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. Staff is currently reviewing the budget and will make changes to ensure the numbers are allocated to each cost center correctly. We hope to have this completed by the December report.
Revenues exceeded expenses primarily due to rent and lease payments.
Revenues exceeded expenses for October. This is due to the timing of Sanitation Services expenses.
Revenues exceed expenses for October. Wastewater Charges are higher this October versus last fiscal year by $30,877 or 6.9%.
Revenues exceed expenses for October. Water Charges revenue is higher this fiscal year versus last fiscal year by $51,862 or 16.0%.
Expenses exceed revenue for October. This is due to contractual and capital expenses.
Revenues exceed expenses for October. The net contribution after eliminating the transfer from the General Fund is $57,471. This is primarily due to Fuel Sales.
Revenues exceed expenses for October. 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.