Submitted by Pauline Testagrose
Fernandina Beach Comptroller
January 20, 2021
[Note: City Comptroller Pauline Testagrose presented the report below to the Fernandina Beach City Commission (FBCC) at the FBCC’s January 19, 2021 Regular Meeting.]
Monthly Budget Report December 2020
Overall: December is the third month of the fiscal year 2020/2021 and represents 25.0% or one quarter of the budgeted fiscal year. All revenue and various grant revenues have been accrued for the month of December. 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 63.9% of the annual budget. This is due to the timing of Property Tax receipts. For the month of December 86.2% or just over $12.7M has been received year to date. Local Business Tax revenue is also above the 25.0% mark, at 54.9%, also due to the timing of receipts. Specific revenue sources we are tracking are detailed below.
General Fund expenses are at 20.5% of the budget which is below the 25.0% mark. City Clerk, Finance, Non-Departmental, and Police Rangers are over the 25.0% mark, primarily due to the payment of annual maintenance and professional services contracts.
Special Revenue Funds: (100 – 190) As was anticipated, Revenues plus Cash Balance Forward exceed Expenditures for all Special Revenue funds.
Debt Service Funds: (220 – 230) Semiannual interest has been paid on the GO Bonds in Fund 220 in October.
Capital Improvement Funds: (300 – 330) The Capital Improvements Fund – 300, a debt service payment was made on the Fire Truck and a new Bucket Truck was purchased for Streets. Encumbrances have been issued for street striping, ARC roof building C and the Peck Center window replacement project. Revenues exceed expenditures for the Capital Expansion and Wastewater Capital Improvement Funds. 
Golf Course: (410) Expenses exceed revenue due to the Toptracer capital project. Annual memberships were $8,790 higher this December year to date compared to last year. Both margins on Pro Shop Sales and Food and Beverage are below the budgeted ratios. Cost of goods sold for Food and Beverage exceeded revenues by $8,636 year to date.
Airport: (420) Revenues exceeded expenses. This is primarily due to the FAA grant revenue for the Runway 4/22 Rehabilitation project.
Sanitation: (440) Revenues exceeded expenses for December.
Wastewater: (450) Revenues exceeded expenses year to date. With the reduction in Wastewater Charges that went into effect October 1 , revenue is ($111,065) or (7.5%) lower than last year.
Water: (460) Revenues exceeded expenses year to date for December. Water charge revenue is lower this fiscal year versus last year by ($35,149) or (3.35%).
Stormwater: (470) Revenues exceeded expenses for December.
Marina: (480) Although the Marina is still running a deficit for the month of December, $79,682 was recorded in transient slip rental fees. December is the first month the Marina is being managed by Oasis.
Fleet: (510) Revenues exceeded expenses year to date. 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.