Submitted by Pauline Testagrose
Fernandina Beach Comptroller
December 16, 2020
Following her monthly budget report at the December 15, 2020 Fernandina Beach City Commission (FBCC), Comptroller Pauline Testagrose reported that the City has recently received $259K from Nassau County for reimbursement under the CARES Act.
Overall: This the second report of fiscal year 2020/2021. November represents 16.7% of the budgeted fiscal year. All revenue and various grant revenues have been accrued for the month of November. 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. Please let the Comptroller know if you wish to see any of these comparative reports.
General Fund: (001)
Total General Fund revenues are at 16.8% of the annual budget. This is due to the timing of Property Tax receipts. For the month of November 16.1% or $2,383,652 has been received for the month. Local Business Tax revenue is above the 16.7% mark also due to the timing of receipts. Specific revenue sources we are tracking are detailed below.
General Fund expenses are below the 16.7% mark at 13.1%. City Clerk, Finance, Non- Departmental, Police Rangers, and Downtown are over the 16.7% mark, primarily due to the payment of annual maintenance and professional services contracts.
Special Revenue Funds: (100 – 190)
Revenues plus Cash Balance forward exceed Expenditures for all Special Revenue.
Debt Service Funds: (220 – 230)
Semiannual interest has been paid on the GO Bonds in Fund 220 in October.
Capital Improvement Funds: (300 – 330)
A debt service payment was made on the Fire Truck and a new Bucket Truck was purchased for Streets. Revenues exceed expenditures for the Capital Expansion and Wastewater Capital Improvement Funds.
Golf Course: (410)
Revenues exceed expenses due to annual memberships and the transfer from the General Fund. Annual memberships were $9,354 higher this November compared to last year. Both margins on Pro Shop Sales and Food and Beverage are below the budgeted ratios. Expenses for food and beverage exceeded revenues for November.
Airport: (420)
Revenues exceeded expenses due to payments for rent and land leases.
Sanitation: (440)
Revenues exceeded expenses for November.
Wastewater: (450)
Revenues exceeded expenses due to Wastewater charges. However, with the reduction in fees that went into effect October 1 , revenue for Wastewater charges are ($67,153) or (7.4%) lower than last year.
Water: (460)
Revenues exceeded expenses for November.
Stormwater: (470)
Revenues exceeded expenses for November.
Marina: (480)
Although the Marina is still running a deficit for the month of November, $76,137 was recorded in transient slip rental fees. November is the last month Westrec is managing the Marina.
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.