Submitted by Suanne Z. Thamm
Reporter – News Analyst
August 19, 2020
City of Fernandina Beach Comptroller Pauline Testagrose delivered the July 2020 Budget Report to the Fernandina Beach City Commission (FBCC) at the August 18, 2020 FBCC Regular Meeting. She reported that although July is the tenth month of the Fiscal Year and represents 83.3 percent of the Budget, department expenses have been kept to 65.9 percent of the General Fund Budget.
Commissioner Chip Ross commended staff for keeping expenses down in light of unanticipated Covid-related needs. City Manager Dale Martin informed the FBCC that he will attend the Nassau County Board of County Commissioners meeting the evening of August 24th to request $500K in CARES funding. He asked that the FBCC join him for that presentation.
Comptroller Testagrose reported that overall state funding source revenues are down more than 66 percent, reflecting the impact of the Covid 19 pandemic. The specific source data is provided in the table below.
Testagrose reported that 90 percent of the Budget for General Fund revenues have been received. Specific revenue sources are listed below.
Special Revenue Funds: (100 – 190)
In addition to the $1.2M property tax levy, the Land Conservation Trust Fund has received $289,180, year-to-date through July, in donations. This amount includes the funds received from Amelia Bluff and the private anonymous donations. In Fund 110 – Federal Forfeiture and Fund 190 – Law Enforcement Recovery, it was anticipated that expenditures would exceed revenues due to capital purchases.
Debt Service Funds: (220 – 230)
The semiannual interest payment was paid in October and the principal payment was made April 1st for the GO Bond in the Debt Service Fund – Fund 220. The semiannual interest was paid in March on the Series 2013A Utility Bonds.
Capital Improvement Funds: (300 – 330)
The Capital Improvements Fund – 300, encumbrances have been issued for a generator, new fire truck, sidewalks, street paving, trails, and beach monitoring.
Golf Course: (410)
Revenues exceed expenses due to the transfer from the General Fund. The Golf Course reopened in the month of May adhering to the CDC Guidelines due to COVID-19. The margin on Pro Shop Sales is above the budgeted ratio at 66.8%. Food and Beverage is at 11.7% which is below the budget ratio of 28.2%.
Revenues exceeded expenses on a year-to-date bases due to payments for rent, land leases and other revenue.
Revenues exceeded expenses year-to-date.
Revenue exceeds expenses due to septic dumping fees, interest, and miscellaneous fees. Revenue for Wastewater charges are $196,912 or 4.1% higher than July 2019 year-to-date.
As anticipated, expenses exceed revenues year-to-date due to capital improvements, such as the large new reservoir #3 water plant.
Expenses exceed revenues primarily due to the loss on the disposal of a fixed asset (street sweeper).
Although the Marina is still running a deficit, for the month of July, $35,187 was recorded in transient slip rental fees.
Revenues exceed 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 exceed Expenditures in Utility Billing and Utility Administration.