6. Agenda: 7. RequirementLPurpose: (speczjj) X Consent X Statute Administrative X Ordinance Background: Blue Sheet No.

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1 Lee County Board Of County Commissioners Agenda Item Summary ACTION REQUESTED/PURPOSE: Present for information, purposes. c. Blue Sheet No. zbo7 s39 WHAT ACTION ACCOMPLISHES: To provide interim reporting on selected funds and revenues of the Lee County Board of County Commissioners. Included in the report in compliance with Chapter Florida Statutes, Local Government Investment policies, is the stated and fair market value of the investments managed by the Clerk s Office, pursuant to Lee County Ordinance 2-28 activity for the Driver s Education Safety Trust Funds. 3. MANAGEMENT RECOMMENDATION: The purpose of this report is to convey to you the financial status of selected significant funds of the Lee County Board of County Commissioners and the status of specific revenues as of the stated dates and the market value of the investments managed by the Clerk s Office on behalf of the Board. 4. Departmental Category: - 15M, 6. Agenda: 7. RequirementLPurpose: (speczjj) X Consent X Statute Administrative X Ordinance 2-28 Appeals Admin. Code Public Walk-on Other 5. Meeting Date: March 29,27 8. Request Initiated: Commissioner Department Clerk of Circuit Court Division Finance/Records Department By: DonnaG.Harn &+... w- 9. Background: Department Director Purchasing or Contracts Human County Resources Other Attorney Budget Services Analyst Risk Grants Mgr. County Manager/P.W. Director

2 ted operating budget by,, up or down. on a variance expenditures-to-date, and funding source( Commissioners. Very Trpl Charlie Green Clerk of the Circuit Court CG/PS/ ga BOCC - Board of County Commissioners Cash and Investments - Balance at month end Port - Lee County Port Authority Reserves - Adooted budget amount set aside for reallocation bv the Board as needed durine the I - year to fund unexpected operations or events YTD - Year-to-Date (YTD totals are for the fiscal years beinz reported- October through YTD Actual - Amount received to date - Amount expended to date - " I

3 SIGNIFICANT STATISTICAL DATA For the period covering Fiscal Years 27 and 26 Prior year data covers October through September - Current year data covers October through current reporting period Interest Collected FY7 FY6 February $6,93,54 February $5,21,888 Year-To-Date $33,631,545 Year-to-Date $22,347,263 Monthly Interest Collected P,IXXl,WIl $7,nxl,*u %SXXI,*XI S5.~X*,IXX1 %,lxxi,ixxl S3,U*.IYx SZ~XXLLXXI Sl,*X).I~ lllckh., Nowmlvr Ikrmih.r January khrunry Mar~h FY 27 interest increased over the prior year due to higher interest rates. Vendor Dollars Paid - BOCC and Port Authority FYO7-February FY6-February BOCC Port Total BOCC Port Total $65,748,282 $5,977,741 $71,726,23 $69,598,892 $5,33,416 $74,929,38 Dollars Paid by Month $16,, $14,, $1 $1,, $8,, $6,, $4,, $ October. November December January February March Apnl May June July August Septembei * FY27 increase due to budget draws to constitutional offices, impact fee disbursment to Lee County School District, and Ad Valorem commission fee advance to Tax Collector. Payroll - BOCC and Port Authority FY7-February FY6-Fe bruary BOCC Port Total BOCC Port Total Full-Time Employees 2, ,841 2, ,68 Part-Time Employees Payroll Total $9,495,868 $1,288,36 $1,784,174 $8,42,84 $1,218,544 $9,639,348 $1 6,, $14,, $12,, $1,, $s,ooo,ooo rw,ooo,ooo $4,, $2,, l w Dollars Paid By Month *Includes three pay periods 2

4 SIGNIFICANT STATISTICAL DATA For the period covering Fiscal Years 24 through 27 General Fund Cash Balances.s 15 B 3 1 P oc t Nov Dec Jan Febr Mar APr Month I-+-ME4 +FYEO5 ME6 +FYEO7I May June July Aug Sept. 1 Ei ""I 6 B ' 4- " 2 -, YL JL. - " -2. 7,- 2 _ & Capital Improvement Fund Cash Balances Oct Nov Dec Jan Febr Mar Apr May June July Aug Sept Month I -+- ~ ~ +ME5 4 ME6 --3t ME7 I 3

5 SIGNIFICANT FUNDS - CASH AND RESERVES As of February 28,27 (in dollars) Prior Month Current Month Increase Cash Original Budgeted Budgeted (Decrease) and Budgeted Reserves Reserves from Prior Investments Reserves Balance Balance Month General Fund MSTU GOVERNMENTAL ACTIVITIES 258,4, ,739,566 18,917,773 73,248, ,466,795 73,29, ,714,936 71,436,37 1 (751,859) 2 (1,853,829) Library 76,695,521 33,679,249 25,875,212 25,875,212 Tourist Tax 2,912,342 1,899,322 1,899,322 1,899,322 Transportation Trust 1,752,23 7,98,87 7,98,87 7,98,87 Impact Fees Community Parks 16,34,2 5,3,28 3,838,18 3,838,18 Regional Parks 12,565,685 1,774, , ,348 Roads 113,75,521 49,25,157 53,353,69 53,353,69 Emergency Medical Services (EMS) 1,335,535 1,188,54 88,819 88,819 Capital Improvements* 21,42,696 47,647,476 39,48,491 39,48,491 Transportation Capital Improvements 113,227,442 17,184,931 18,455,113 17,971,613 (483,5) BUSINESS-TYPE ACTIVITIES Solid Waste 119,332,69 43,876,97 43,376,618 45,23,447 1,853,829 Transportation Facilities 6,934,6 247, , ,149 Water and Wastewater 8,869,962 2,265,33 2,265,33 2,265,33 Transit 13,671,185 4,19,375 1,754,927 1,754,927 Port Authority 2,48,119 18,49,232 18,49,232 18,49,232 Total YTD County Investments - $1,539,473,48 COMMENTS 1. Budgeted Reserves decreased $448,582 due to the FY6 carryover of unspent funds from the Lee County Sheriff's Office False Alarm Reduction Unit to be used for operating expenses, and $33,277 to hire seven new bailiff positions for Court Operations. 2. Budgeted Reserves decreased for MSTU and increased for Solid Waste due to the transfer from MSTU to partially reimburse Solid Waste for expenses relating to Hurricane Charley debris disposal. 3. Budgeted Reserves decreased $483,5 due to the land purchase for the Alico Connector Road project. *Included in Capital Improvements are Conservation 22 and TDC Beach Renourishment sub-funds. 4

6 Ad Valorem, General Fund Ad Valorem, MSTU Fund Sales Tax 1/2 Cent State Revenue Sharing Communications Services Tax Constitutional Gas Tax Local Option Gas Tax 5 Cent Gas Tax (1/94) 9th Cent Gas Tax 7th Cent Gas Tax Tourist Tax Building Permit Fees Road Impact Fees EMS Impact Fees Regional Parks Impact Fees Community Parks Impact Fees SOLID WASTE User Fees Ad Valorem Taxes Electric Utilities LEE TRANSIT SYSTEM 3,87,259 1,23,87 4% TRANSPORTATION FACILITIES Sanibel 13,6, 5,971,57 44% Cape Coral 14,8, 6,819,922 46% Midpoint Memorial 16,3, 7,2,48 44% WATER & WASTEWATER SYSTEM Water Operating 39,15, 12,49,116 32% Wastewater Operating 36,5, 11,5,292 3% LEE COUNTY PORT AUTHORITY User Fees 36,18,447 13,387,61 37 % Rentals and Franchise Fees 1,63, , % Concessions 36,755,954 14,675,978 4 % VARIANCE At least 15% and $5,, up or down Lee County, Florida SIGNIFICANT REVENUES As of February 28,27 and 26 (in dollars) Fiscal Year 27 Fiscal Year 26 Variance YTD O/O of YTD O/O of Actual Yo of Budget Actual Budget Budget Actual Budget Amount Change 299,431,453 38,318,76 48,276,369 13,845,55 8,991,39 5,879,75 1,129, 6,616,728 3,576,974 2,572,38 17,784, 7,371,644 4,913, 37, 6,63, 9,47, 61,45,381 2,287,71 9,34,74 GOVERNMENTAL ACTIVITIES 248,676,326 83% 239,836,83 32,227,277 84% 29,734,311 14,857, % 41,554, 5,599,933 4% 11,65,2 3,292,541 37% 7,588,884 1,997,26 34% 5,91,569 3,83,525 3% 9,23,17 2,256,54 34% 6,394,18 1,126,929 32% 3,237, ,855 33% 2,634,384 6,937,887 39% 12,348,67 1,572,126 21% 6,432,44 8,365,411 2% 26,21, 28,722 56% 375, 1,32,466 2% 6,125, 1,496,456 16% 5,916, BUSINESS-TYPE ACTIVITIES 36,955,48 61% 1,76,97 77% 3,275,97 36% 28,15,528 26,163,929 14,78,729 5,38,414 2,774,849 1,882,556 3,76,38 2,177, , ,73 4,633,975 3,241,328 15,774, ,346 3,428,314 3,884,81 87 % 88 % 36 % 43 % 37 % 32 % 33 % 34 % 24 % 31 % 38 % 5 % 6 % 5 % 56 % 66 % 56,521,438 35,923, % 1,746,623 1,425, % 9,34,74 2,398, % 2,684,242 1,143, % 13,, 5,75, % 14,3, 6,653,52 47 % 15,7, 7,46, % 36,55, 14,355, % 34,25, 13,713,728 4 % 37,737,413 14,519, % 1,563,94 71, % 33,762,516 14,992,71 44 % 4,525,798 6,63,348 77, , , ,65 7,145 78, ,457 15,782 2,33,912 (1,669,21) (7,48,947) 21,376 (2,17,848) (2,388,354) 1,31, ,12 877,473 86,859 22,64 166,42 154,362 (1,865,63) (2,663,437) (1,132,73) (74,126) (316,731) 1 19%, 23 % 1% 11 %2 19% 6% <1% 4% 42% 2%3 5 %4-51%5-47% 11 %5-61%5-61% 3% 23%6 37% 8% 4% 3% 2% -13%7-19% COMMENTS 1. Fiscal Year 27 YTD Actual is higher due to an increase in taxable property values. 2. Fiscal Year 27 YTD Actual is higher due to an increase in the monthly distributions from the State which the revenue collected is based on the number of customers for all communications services as well as the amount of services purchased. 3. Fiscal Year 27 YTD Actual is higher due to a 2 percent rate increase on gross rentals effective January 26 for additional advertising revenue to generate more tourism. 4. Fiscal Year 27 YTD Actual is lower due to a decrease in building construction. 5. Fiscal Year 27 YTD Actual is lower due to a decrease in permitting activity. 6. Fiscal Year 27 YTD Actual is higher due to an increase in the electricity sold to Seminole Electric. 7. Fiscal Year 27 YTD Actual is lower due to a delay in the receipt of the billing information in FY7. -8% -1% -2% 5

7 EXPENDITURES BY SIGNIFICANT DEPARTMENT As of February 28,27 and 26 (in dollars) Fiscal Year 27 Fiscal Year 26 Variance Amended Amended Adopted Budget YTD Budget YTD YTD "/o of Budget YTD Expenditures YTD Expenditures Expenditures Change GOVERNMENTAL ACTIVITIES County Commissioners 1,224,249 1,224, ,373 1,28, ,893 (89,52) -17% County Manager 1,448,449 1,448, ,319 1,336,776 53,137 (8,818) -2% Medical Examiner 2,362,14 2,362,14 1,83,82 2,132, , ,316 17% Visitor & Convention Bureau 1,888,61 1,888,61 2,93,435 7,979,232 2,42,58 482,855 2% Public Safety Library 44,5,3 28,387,27 44,5,3 28,395,227 14,315,319 9,19,281 42,496,854 25,989,173 14,117,443 11,285, ,876 1% (2,176,392) 1-19% Parks & Recreation 38,316,1 42,875,46 11,599,712 34,875,655 11,374, ,53 2% Economic Development 1,816,652 1,816, ,73 1,69, ,881 (62,178) -1% Animal Services 4,39,227 4,39,227 1,426,246 4,136,724 1,588,327 (162,81) -1% Community Development 28,65,332 28,65,332 8,664,757 25,984,261 9,256,346 (591,589) -6% Public Works Administration 1,969,333 1,969,333 65,35 1,824, ,71 (127,45) -16% Construction & Design 16,956,697 16,956,697 6,175,676 14,196,179 6,67,833 17,843 2% Natural Resources 6,123,317 6,148,982 2,92,32 5,456,467 2,17,457 (78,137) -4% Transportation 39,97,841 39,97,841 11,894,319 33,521,62 11,95,2 (1,71) <1% Solid Waste Transportation Facilities (Tolls) Water & Wastewater Transit Port Authority 54,134,498 54,134,498 14,524,924 9,354,468 9,354,468 4,625,94 58,5,46 58,5,46 16,658,426 2,31,96 2,31,96 6,548,971 72,875,599 72,883,99 23,357,349 45,163,138 8,985,183 54,288,884 17,578,728 55,322,68 13,27,41 4,217,253 15,96,66 6,818,197 19,11,288 1,254,514 9% 47,841 1% 698,36 4% (269,226) -4% 4,346, % VARIANCE At least 15% and $5,, up or down COMMENTS 1. Library YTD expenditures are lower in Fiscal Year 27 due to a decrease of $2,375,43 in IGS cost allocations for data processing and network charges. 2. Port Authority YTD expenditures are higher in Fiscal Year 27 due to an overall increase in operating costs such as personnel costs, liability insurance premiums, janitorial, and building maintenance. 6

8 SIGNIFICANT PROJECTS As of February 28,27 (in dollars) Project Name Midfield Terminal Colonial/McGregor - US 41 Conservation 22 Justice Center Expansion Solid Waste Processing Equipment Sanibel Bridge Replacement - A, B & C Babcock Ranch Acquisition Three Oaks Parkway Extension South Burnt Store Road Four Laning/Right of Way Bicycle/Pedestrian Facilties Estero Parkway Extension Jail Expansion Summerlin 8 San Carlos to Gladiolus Summerlin 8 Boy Scout to Cypress Lake Three Oaks Parkway Extension North Airport Sewer District Lee Tran Operations & Maintenance Facility Matlacha Pass Bridge Replacement Three Oaks WWTP Expansion Imperial Street Lakes Park Master Plan Three Oaks Parkway Widening Gladiolus Widening Sanibel Toll Facility Plaza Rehab Ortiz Avenue/SR8 - Luckett Northwest Regional Library Wa-Ke Hatchee Community Park Estero Community Park Ortiz Four Laning -MLK to Luckett Projected Cost 437,871,114 4,35, 257,9, ,417,334 13,195, ,98, ,224,29 62,625,27 55,959,93 5,442,717 48,887,3 45,36,937 43,834,692 4,354,215 35,566,445 33,355,57 31,13,513 27,688, 27,482,324 25,285,812 24,882,121 21,25,6 19,582, 18,896,742 18,29,6 18,57,13 16,78,196 16,27,65 15,88, ,54, ,973 89,72,97 53,254,483 7,918,99 89,27,16 41,538,62 23,27,165 2,175,358 1,13,292 14,385,81 1,697,428 25,919,725 2,683,127 2,64,21 5,623, , ,529 12,57,69 11,191,798 1,36,221 9,415,623 3,285,414 7,474, , ,4 3,11,55 12,974,925 1,224,273 3,471, ,396 2,63,882 8,262,293 18,338,123 8,452,746 3,499, ,16 1,36,245 15,427 5,82,317 4,971, ,412 9,37 29,958 13,993 1,1,841 2,997,311 3,662,95 68, ,44 89,35 1,775,36 294,759 39,251 31, , 1,141, ,11,898 64,369 92,36,789 61,516,776 89,257,113 97,479,96 41,538,62 26,769,343 2,328,374 11,436,537 14,4,58 6,779,745 3,891,616 3,379,539 2,154,58 5,653,96 49,545 1,617,37 15,54,38 14,853,893 1,375,42 9,813,667 3,374,719 9,249,621 57, ,255 3,42,527 13,489,925 2,365,73 DAG DJ A A,D D,E DS A A,GT,I,S E GT,I A,GT,I,S A,D A,D,GT,I A,E,GT,I A,D,GT,I E E,GS GT,I E 1,s A,I-R A,GT,I A,GT,I DS I LA A,I-C,S I-R A,GT,I Projected Cost and Funding Sources are provided at the beginning of Fiscal Year and are subject to change. This information is obtained hom the Annual County Budget Report and is updated annually. I A - Ad Valorem D - Debt Finance E - Enterprise Fund G - Grant GT - Gas Tax I - Road Impact Fees Funding Source Key I-C - Community Park Impact Fees I-R - Regional Park Impact Fees LA - Library Ad Valorem S - Special T-TDC M - MSBU/TU 7

9 ROAD IMPACT FEE FUNDS As of February 28,27 (in dollars) 1881 Road-Fort Myers 561,24 $ 85,652 $ 295,314 $ 448, Road-North Fort Myers/ Alva 1,552,87 2,19,73 1,431,32 958, Road-East Lee County 8,625,759 1,653,762 3,119,2 3,34, Road-South Ft. Myers/San Carlos 2,714,412 2,49, , , Road-Cape Coral/Pine Island 634,8 627,963 19, , Road-Sanibel/Captiva 5,419 5, Road-Boca Grande 74,647 64,364 14, Road-Bonita 1,17,82 692,427 53,75 79, Road-Boca Grande 1,787 1, Road-North District 4,882,727 4,521,593 76,78 18, Road-Central District 64,394,227 51,154,531 1,698,378 9,75, Road-Southwest District 23,19,131 26,967,39 8,293,945 16,472, Road-Southeast District 6,86,42 3,52,7 1,3, Total for all Road Impact Fee Funds $ 113,75,521 $ 13,173,477 $ 15,954,413 $ 32,237,771 8

10 DRIVER EDUCATION SAFETY TRUST FUND As of February 28,27 (in dollars) BUDGETED BUDGETED YTD YTD REMAINING FUND BALANCE REVENUES REVENUES APPROPRIATED EXPENDITURES APPROPRIATIONS RESERVES. 358, ,25 65, , 138, 443,729 Payment Activity Payee Amount Paid TOTAL YEAR-TO-DATE $ 9

11 INVESTMENT SUMMARY FOR THE MONTH OF FEBRUARY 27 $ 1,, 6,494,222 16,995, 15,, 24,39, 3,, 1,, 657, 5,, 16,815, 26,192, ,237 FLEX FHLMC FHLMC FFCB FHLMC DN FHLMC 5.25% 5.45% 4.75% 5.5% 5.5% 5.5% 5.5% 3.125% 4.875% 5.63% 5.375% 5.4% 5.3% 5.25% 5.35% 5.1% 5.125% 5.% 5.% 5.% 5.125% 5.% 4.25% 5.% 4.25% 4.25% 5.15% 4.% 5.2% 5.15% 5.9% 5.5% 3.71% 3.71% ($12,) (12,5) 8, (1,) (56,938) (35,156) (18,75) (2,) (17,) (42,487) 315 3,811 18,75 (128,125) (4,979) (37,5) (139,844) (16,) (3,) (416,54) $19,988, 19,987,5 2,8, 9,999, 19,439,62 19,964,844 6,494,222 19,981,25 19,98, 19,983, 16,952,513 15,,315 24,393,811 3,18,75 19,871,875 1,, 652,21 4,962,5 19,86,156 19,984, 19,997, 16,398,946 26,192, ,237 $19,981,25 19,993,75 2,28,125 2,6,25 2,6,25 1,3,125 19,529, 2,34,375 6,494,222 2,7,8 2,6,25 2,,6 16,984,378 15,9,375 24,35, 19,975, 19,975, 19,987,5 29,953,125 19,892,2 9,984, ,794 4,975,6 19,981,25 19,88,4 19,987,5 19,981,25 16,5,56 19,997,4 26,184, , $ 487,5 68,39 537,5 54, 53, 525, 866,745 1,212, , ,444 1,25, 1,48,333 5, 13,961 16,25 515, 52, 515, 55, 1,46,656 6,56 I FHLMC 5.% 19,998, $675,77,222 ($1,434,457) $674,272,765 $674,55,668 $13,871,653 MATUREDhOLD INVESTMENTS FACE COUPON/ PREM/ PURCHASE PURCHASE MATURITY TOTAL VALUE TYPE RATE (DISC) PRICE DATE DATE 1NT.REC. a $ 5.4% $ $81, a 5.3% (2,) 19,998, , a 1,, 6.25% 51,563 1,51, ,5 a 5.45% ,667 a 5.45% ,778 d 7,, DN 5.15% 6,817, ,253 $97,, $49,563 $96,867,31 $1,836,198 SUMMARY OF ALL INVESTMENTS SBA and other liquid investment amounts have variable interest rates from 5.12% %. The balances and interest rates for these investments fluctuate daily. At the end of the month the SBA rate was 5.38%. LIQUID TERM OVERNIGHT min max min max min max Pool $573,62,415 - $7,69,641 $555,371,261 - $625,455,98 $ - $8,, Port $ 62,146,399 - $ 95,683,685 $ 163,238 - $ 163,238 $ - $3,, Trustee $128,57,813 - $144,865,79 $ 17,346,69 - $ 17,358,295 Debt Svc $ 44,852,623 - $ 5,598,59 $ - $ Reserve $ 2,724,359 - $ 2,727,748 $ 26,844,784 - $ 26,844,784 I Const $ 12,567,525 - $32,97,188 $ 76,893,168 - $ 85,475,189 Total Interest $3,86,965 $2,994,567 $47,972 SEE REVERSE SIDE FOR DEFINITIONS 1

12 I Disc Rate Rem Discount rate Premium DEFINITIONS FFCB Federal National Mortgage Association Federal Farm Credit Bank Disc Mkt EOM Total Int Rec Discount Market Value at the end of the month Total interest received for life of investment N A SBA Tennessee Valley Authority Treasury Note State Board of Administration FHLMC EOM O/N REPO REPO FLEX Federal Home Loan Bank Federal Home Loan Mortgage Corporation End of Month Overnight Repurchase Agreement Tern1 Repurchase Agreement Flex Repo O/N DISC T-BILL DN CD 5TH/3RD Total Int Rec Overnight Discount Note Treasury Bill Discount Note Certificate of Deposit Fifth Thrid Bank Interest receied from purchase date to date of report NOTE Discount notes and Treasury Bills are purchased at a discount and the face value is received at maturity. The discount is the interest rate earned. All other securities pay interest each six (6) months and at maturity. The Government Bills, Notes and Bond inventory identifies the purchasing source by the following: a) Pooled Cash Invest b) P.A. Pooled Invest E) Debt Service d) Constmction e) General Fund f) Reserve a) P.A. Non-Pool 11