By Pauline Testagrose
City of Fernandina Beach Comptroller
City Comptroller Pauline Testagrose delivered this report to the Fernandina Beach City Commission at their February 15, 2022 Regular Meeting.
Overall: This is the fourth report for the fiscal year 2021/2022 and January represents 33.3% of the budgeted fiscal year. All revenue and various grant revenues have been accrued for the month of January. 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. Reports comparing current YTD to prior year YTD are also available.
General Fund: (001)
Total General Fund revenues are at 67.4% of the annual budget. This is due to Property Taxes and Local Business Tax receipts. Year-to-date Property Tax receipts are $14.0 million dollars or 91.7% 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 25.4% of the budget. Currently the departments over the 33.3% mark are: City Commission, City Clerk, Finance, 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 have been made for Beach Monitoring and Reporting and purchase orders have been issued for the Tyler Executime Payroll system, police equipment, 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 $47,781 or 50.5% 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 January. This is due to the timing of Sanitation Services
expenses.
Wastewater: (450)
Revenues exceed expenses year-to-date. Wastewater Charges are higher this January versus last fiscal year by $38,517 or 2.1%.
Water: (460)
Revenues exceed expenses year-to-date. Water Charges revenue is higher this fiscal year versus
last fiscal year by $66,594 or 4.3%.
Stormwater: (470)
Revenues exceed expenses for January, due to State grant revenue.
Marina: (480)
Revenues exceed expenses for January. The net contribution, after eliminating the revenue received from FEMA and the transfer from the General Fund, is $204,079. This is primarily due to Fuel Sales and Transient Slip rental.
Fleet: (510)
Revenues exceed expenses for December. 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.