CITY OF JACKSONVILLE. General Fund

Transcription

1 OFFICE OF THE COUNCIL AUDITOR Suite 200, St. James Building August 19, 2005 Report No. 609 Honorable Members of the City Council City of Jacksonville Pursuant to Chapter 106 of the Ordinance Code, attached are the required financial statements and narratives for the quarter ended June 30, 2005 for the City and its Independent Agencies. In addition, pursuant to Ordinance E, attached are schedules submitted by the City Treasurer that describe the cumulative year-to-date and life-to-date investment and debt management activity as a result of the City s new investment policy. And pursuant to Ordinance E, attached is a newly established Schedule of Transfer Directives submitted by the Mayor s Office for certain budgetary transfers made within the Mayor s transfer powers. The various reporting entities compiled these reports, which are unaudited except for tests of reasonableness. Municipal Code Sections through requires this quarterly financial report. To meet the reporting dates specified by law, the Director of Administration and Finance or Chief Financial Officer of the City and each of its independent agencies were to submit their reports to the Council Auditor on or before July 31, 2005, and we are to submit the consolidated financial report by August 15, The footnotes attached to the statements and the narrative reports from the reporting entities are generally sufficient for understanding the statements presented; however, we have commented to provide further clarification. CITY OF JACKSONVILLE General Fund General Services District (GSD) Overall, the financial report for the GSD projects a surplus of approximately $631,000, compared to a projected deficit of nearly $11.4 million in the second quarter ended March 31, Since the last quarter, the Director of Administration and Finance revised his projections for Taxes, Intergovernmental Revenue and Contributions from Other Funds as further detailed in his narrative. These projected surpluses are offset by the $8.3 million unfavorable Earnings on Investments from the termination of all SWAPs in June As we reported in the first quarter, the audited financial statements released on February 18, 2005 state that beginning fund balance available for appropriation is $4.6 million less than the $ West Duval Street Jacksonville, Florida Telephone (904) Fax (904)

2 million used to balance the FY 2004/05 budget. Ordinance E (approved by City Council in June 2005) appropriated $9,471,840 from FEMA reimbursements and $6,672,880 from Retained Earnings in the Self Insurance Sub-fund in order to restore the Beginning Fund Balance to $72.1 and also cover a portion of budget overruns in Fire Rescue, Community Services and Parks and Recreation as a result of the hurricanes in September 2004 and debris clean-up associated with the hurricanes in this fiscal year. The Investment Activity created as a result of the new Investment Policy is reflected on pages 11 through 18 of this report. Per the City Treasurer, since October 1, 2004, the investment program resulted in total income of $12,141,468 of which $3,368,128 directly impacts the General Fund. This total investment income includes a year-to-date net loss from the swap program of $1,388,259. Due to rising interest rates, in June 2005, the City decided to terminate all of its outstanding SWAP agreements at a cost of $4.3 million. Overall, though, since its inception the SWAP Program produced net earnings for the City of $9,709,255, even after taking in account these termination costs of $4.3 million. In total, the Administration is projecting that at year-end the original budget of $19,585,685 for Earnings on Investment will be nearly $8.3 million below budget mainly due to the losses in the current year on the SWAP Program along with lower than anticipated interest earnings. Pursuant to Ordinance E, the Administration began its first quarter of reporting on certain transfers of budgetary funds that the Mayor is authorized to make with notification to the City Council provided at least on a quarterly basis. Overall, the Ordinance allows the Mayor to transfer funds from any agency, non-departmental or departmental line item to any other agency, nondepartmental or departmental line item, except under certain conditions such as between sub-funds, to or from the office of the Council, Council Secretary or Council Auditor without the approval of the Council President, or from any reserve or the Cash Carryover accounts, except funds in the Executive Operating Reserve account. A schedule of these transfers is attached. The Director of Administration and Finance has certified that the schedule meets all reporting requirements specified by Ordinance E. Comments on Additional Sub-funds Clerk of the Court (Sub-fund 016) The Clerk of the Court Subfund accounts for operations of the Clerk that remain the responsibility of the County rather than the State pursuant to Article V. Cash in the Clerk of the Court sub-fund is at a deficit, with a negative $2.1 million balance as of June 30, 2005, which has grown to $2.6 million as of August 18, We delayed issuance of our report in an attempt to meet with and obtain information from the Clerk of the Court concerning their cash deficit and other revenue problems. As reported since the first quarter, revenues are being collected but are not being remitted to the City by the Clerk of the Court. More specifically, as of June 30, 2005, according to the Clerk of the Court s records, collections from recording fees, documentary stamps, commission fees on intangible taxes and marriage licenses that are supposed to be remitted to the City in Sub-fund 016 total $5,041,012, of which the City has only received $1.2 million to date. The Clerk s failure to remit these revenues also goes back to the FY 2003/04. After discussions with the Clerk on Wednesday, August 17, 2005, it was determined that $1,728,412 collected on recording fees and documentary stamps for July, August and September of 2004 was inadvertently not remitted to the City. The Clerk of the Court has indicated that this was an oversight and that he would be remitting these funds to the City immediately. For the other funds that have not been remitted to the City in 2

3 the current fiscal year, the Clerk of the Court has indicated to the Administration that he will remit monies owed to the City by year-end. In the current fiscal year, information technology charges for the Clerk of the Court are projected to be approximately $1 million. Consistent with last fiscal year, none of these charges have been paid for by the Clerk of the Court as the remittance of the revenue source to the City to cover these costs is in dispute. We will be working with the Clerk of the Court and the Administration in the coming quarter to help resolve this issue. Duval County Law Library, Judicial Alternative To Incarceration Juvenile Drug, Adult Drug Court, Legal Aide (Sub-funds 15B, 15L, 15Q, 15R) Although these subfunds are not included in the financial reports submitted as part of the Quarterly Report, we feel it is important to note when a revenue stream is not being realized as budgeted. Ordinance E established a $65 court cost for felonies, misdemeanors, and criminal traffic infractions. These revenues were budgeted for adult drug court, legal aid, the law library, and teen court and other juvenile judicial alternative programs. Revenues for these subfunds were budgeted at $2,651,352 for the FY 2004/05. In the first quarter, we reported that actual revenue collections were well below budget. Recognizing that revenues would not materialize as originally budgeted, in April 2005, the Administration introduced Ordinance , which proposed to de-appropriate approximately $1.5 million from the original budgets for all of the programs previously mentioned. During the third quarter, our office and the Administration extensively reviewed this issue. Based on limited funding available within the City, a decision was made to carryover the original budgets for these programs from the FY 04/05 to the FY 05/06. This would provide no new funding for the FY 2005/06, but instead would establish a two-year budget for these programs of approximately $662,000 for each program. Also, pursuant to the Ordinance language added to E, the programs are permitted to deficit spend until September 30, 2006, at which point we project the revenues will materialize as originally budgeted. Sports Complex (Sub-fund 137) The Sports Complex Trust Fund accounts for the activities in the Alltel Stadium, the Baseball Grounds of Jacksonville, and the Veterans Memorial Arena. For the quarter ended June 30, 2005, the Director of the Administration and Finance Department projects an overall deficit of ($236,884) mainly due to increased costs over budget of approximately $24,000 per game for ten Jaguar games. The Administration will need to identify a source of funding to cover this projected deficit. In addition, as of June 30, 2005, the cash balance in this sub-fund was operating at a deficit of ($1,048,727). Pursuant to Amendment 5 of the Jaguar contract, the net profits not to exceed $12,900,000 from the 6,000 Super Bowl XXXIX tickets provided by the NFL to JJL (the Super Bowl Revenue ) shall be applied no later than June 30, 2005 to the total cost of the Development of the Improvements and shall reduce the JJL Contribution (the JJL Payment ). During July 2005, the City received $10,197,891 from the Jaguars pursuant to Amendment 5, which caused the Sports Complex Trust Fund to have a positive cash balance of $8,805,773 as of July 30, Fleet Management (Sub-funds 511 and 512) The Director of Administration and Finance projects an overall deficit of $395,915 in these combined sub-funds, mainly due to rising fuel prices which are projected to be $1.2 to $1.4 million over budget, offset by lower than budgeted expenditures for the Loan Pool. Fleet Management originally budgeted $2,438,740 for loan pool expenditures (i.e. vehicle replacements). As of June 30, 2005, loan pool expenditures totaled only $612,965 and Fleet anticipates that about 20 vehicles scheduled to be paid for in the FY 2004/05 will not be received and paid for until next fiscal year. In addition, it is important to realize that the increased fuel costs will be passed on to the end users, 3

4 such as the Fire Department and Sheriff s Office, whose individual budgets mainly in the General Fund will be impacted by higher fuel costs. Information Technologies (Sub-funds 531 and 532) The Director of Administration and Finance projects an overall surplus of $1,215,101 in these combined sub-funds. However, gains on the sale of fixed assets were improperly recorded as revenue and the projected overall surplus in the combined sub-fund at year-end should be reduced to $760,000. Communications (Sub-funds 533 and 534) The quarterly summary report combines sub-fund 533, telephone communications fund and sub-fund 534, the radio communications fund. The Director of Administration and Finance projects an overall surplus of $3,606,913 in these combined sub-funds. However, gains on the sale of fixed assets were improperly recorded as revenue and the projected overall surplus in the combined sub-fund at yearend should be reduced to $641,036. SMG, INDEPENDENT AGENCIES AND COMMISSIONS SMG The financial reports from SMG combine the revenues, expenditures and net subsidy for the City s basic contract for the operation of the Convention Center, Performing Arts Center, Baseball Grounds, the Arena, and the net subsidy for the maintenance of Alltel Stadium in one main statement pursuant to the City agreement. The net subsidies for commuter lot operations, NFL Game Day Expenses, the Equestrian Center and Cecil Field are reported in four separate statements. SMG s financial narrative for the quarter ended June 30, 2005 indicates that there is a budget deficit from SMG s normal operations of $44,352 projected at this time. In addition, the narrative states that a budget deficit of $201,501 is projected for the Equestrian Center and a budgeted deficit of $256,428 is projected for the Game Day Fund. The deficit for the Equestrian Center is based on the fact that the infrastructure (i.e. the build out of the barns) to support the revenue remains undeveloped. The budget deficit for the Game Day Fund has already been discussed under the Sports Complex sub-fund described above. Currently, SMG projects that its revenues will reach $14,917,964 with expenditures and net losses totaling $24,264,768, leaving the City subsidy projected to be $9,346,804. This represents a projected increase of $439,701 from the original budget subsidy of $8,907,103, which the City would need to cover through alternate revenue sources yet to be identified. JEA Electric System JEA s quarterly summary report for the Electric System for the nine months ended June 30, 2005 shows a deficit (net expenses in excess of revenues available for capital outlay) of ($17,931,596) but projects a surplus (net revenues in excess of expenses available for capital outlay) of $4,716,798 at year-end. The projected surplus is approximately $9 million less than budgeted, which results in JEA having $9 million less for operating capital outlay. As seen on the capital budget schedule, JEA plans to issue additional debt to make up for the shortfall in operating funds for capital outlay. JEA also projects spending significantly less than budgeted on debt service due to a refunding and reamortization of debt to more closely match the life of the assets. 4

5 The numbers produced on the quarterly summary report use the budget or cash basis accounting method. However, JEA is also required to prepare financial statements in accordance with generally accepted accounting principles (GAAP), which require the use of the accrual basis of accounting. JEA s internal monthly financial statements reflect a negative change in net assets of ($102,967,000) for the nine months ended June 30, 2005 compared to a negative change in net assets of ($41,112,000) for the nine months ended June 30, The JEA Electric System s senior long-term debt credit ratings remained unchanged since March 31, 2005 and are as follows: Rating at 3/31/05 Rating at 6/30/05 Rating Agency Fitch AA AA Standard & Poor s AA- AA- Moody Aa2 Aa2 Water & Sewer System JEA s quarterly summary report for the Water and Sewer System for the nine months ended June 30, 2005 shows a surplus (net revenues in excess of expenses available for capital outlay) of $3,774,019 and projects a surplus of $7,875,575 at year-end. The projected surplus is approximately $3.2 million less than budgeted, which results in JEA having $3.2 million less available for operating capital outlay. JEA is projecting lower than budgeted revenues, which are offset by lower than budgeted expenses, including the reduction in the transfer to operating capital outlay. JEA projects reducing their planned capital projects by $10,500,000 due to the shortfall in water/sewer revenues and contributed capital. Bond rating information for Senior Long-Term Debt for the Water and Sewer System is unchanged since March 31, 2005 and is as follows: Rating at 3/31/05 Rating at 6/30/05 Rating Agency Fitch AA AA Standard & Poor s AA- AA- Moody Aa3 Aa3 District Energy System The District Energy System (DES) was established as a separate system effective October 1, Debt Service interest is currently being paid from bond proceeds in accordance with accepted accounting practice. The bond issue was structured to pay the debt service for an initial two-year period while the four chilled water plants are under construction. Although revenues are significantly lower than budgeted due to construction delays for the new Main Library, expenses are also lower and a surplus greater than budgeted is expected for the year. Jacksonville Transportation Authority The financial report of the Jacksonville Transportation Authority (JTA) for the nine months ended June 30, 2005 indicates that the JTA experienced no budgetary stress in the Skyway and Engineering Divisions. The Mass Transit Bus Operations Division experienced an unfavorable variance of 5

6 $624,061 to date, but JTA projects to break even by the end of the fiscal year. In the Community Transportation Coordinator (CTC) service, JTA experienced an unfavorable variance of $441,605, but this variance was offset by a transfer in from the Mass Transit Discretionary Fund. Recertification of eligible customers has begun and will continue to be implemented in an attempt to cut costs in the CTC program. An additional $1,012,841 is projected as a transfer in from the Mass Transit Discretionary Fund in the last quarter for the CTC to break even for the year. Jacksonville Port Authority The financial report of the Jacksonville Port Authority (JPA) for the nine months ended June 30, 2005 indicates that JPA experienced no budgetary stress. Operating expenditures through the third quarter were above budget in large part due to an extensive amount of dredging needed. Dredging is over budget by $883,768 (90.6%). JPA has filed a claim with the Federal Emergency Management Agency (FEMA) because they believe that the extra dredging is needed due to last year s hurricanes. If FEMA approves their claim, JPA plans to submit a budget amendment to the City Council to appropriate the additional revenue. Net income available for capital outlay and contingency are projected to decrease by $712,590 and $598,577, respectively, from the adjusted budget. JPA projects its Capital Revenues and Expenditures to be $56,672,730 less than budget due to the Board s decision to keep the cruise terminal at Dames Point while research continues on their future in the cruise business. Jacksonville Airport Authority The Jacksonville Airport Authority s (JAA) financial report for the nine months ended June 30, 2005 indicates that JAA experienced a budget deficit of $3,808,105; however, JAA projects a year-end favorable variance of $661,100. The $661,100 is projected to be transferred to the Operating Reserve along with $1,991,002, which was originally budgeted for Operating Capital Outlay. The Jacksonville Airport Authority capital budget indicates no budgetary stress. Year-end projections are lower than originally budgeted due to projects that have not yet materialized. Bond rating information for JAA s Revenue Bonds, Series 2003A and Series 2003B, is attached at page 33. JAA s bond ratings have remained consistent since the quarter ended March 31, Jacksonville Housing Commission The financial report for Subfund 1N2 of the Jacksonville Housing Commission (JHC) for the quarter ended June 30, 2005 indicates that the JHC experienced no budgetary stress. We did not receive a Quarterly Summary Report on Subfunds 1N1, 1N4, 1N5, 1N6 and 1N7 until August 15th. This schedule provides a summary of grant funds spent to date by the JHC. Jacksonville Children s Commission The financial report for the Jacksonville Children s Commission (JCC) for the quarter ended June 30, 2005 indicates that JCC experienced no budgetary stress. The JCC projects to remain exactly within budget at year-end. Although the JCC s projections at year-end remain consistent with the original budget, it appears that JCC will have a budget surplus at year-end given that excess funds 6

7 should be available in Personal Services and Operating Expenses from the delayed opening of the Don Brewer Childcare Center. We recommend that in future quarterly summary reports the JCC develop more realistic projections that reflect the organization s expenditures expected at year-end. BOND RATINGS In an effort to monitor any significant changes in bond ratings on outstanding debt issued by the City and its Independent Agencies, we asked that the Director of Administration and Finance and any Independent Agencies who issue bonds provide bond-rating information on a quarterly basis. Please refer to pages 29 and 30 for a detailed list of individual bond ratings. FINANCIAL REPORTS The following financial reports are presented as prepared by the various reporting entities. PAGES NARRATIVES: City of Jacksonville 9-10 City of Jacksonville- Investment Schedules City of Jacksonville- Transfer Directives Schedule Property Appraiser 21 SMG JEA Jacksonville Transportation Authority Jacksonville Port Authority 29 Jacksonville Airport Authority 30 Jacksonville Children s Commission 31 BOND RATINGS: City of Jacksonville 32 Independent Agencies 33 Bond Rating Scale FINANCIAL STATEMENTS: (Not Attached) Financial Statements are Available at the Council Auditor s Office Website Council+Auditor/Audit+Reports.htm City of Jacksonville SMG JEA Jacksonville Transportation Authority Jacksonville Port Authority Jacksonville Airport Authority Jacksonville Housing Commission Jacksonville Children s Commission 84 Respectfully submitted, 7

8 Richard Wallace, CPA Council Auditor 8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

37 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY GENERAL FUND GSD FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 92,329,182 Taxes and Other Receivables, Net 10,033,596 Due from Other Government Units 2,889,516 Inventories 1,269,902 Other Current Assets 42,853 TOTAL 106,565,049 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 2,404,817 TOTAL LIABILITIES 2,404,817 FUND EQUITY Beginning of Year 9,113,376 Current Year Less Encumbrances 56,901,053 Reserves and Encumbrances 38,145,803 TOTAL FUND EQUITY 104,160,232 TOTAL ASSETS: $106,565,049 TOTAL LIABILITIES & FUND EQUITY $106,565,049 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Taxes 450,801, ,024, ,670,857 8,869,323 Licenses and Permits 8,648,840 7,688,220 7,746,548 (902,292) Intergovernmental Revenue 147,917,228 87,772, ,355,878 2,438,650 Earnings on Investment 19,585,685 3,193,474 11,288,881 (8,296,804) Fines and Forfeits 5,867,211 3,468,032 4,855,580 (1,011,631) Charges for Services 48,403,145 33,597,890 50,770,395 2,367,250 Special Assessment 775, , ,887 (51,325) Miscellaneous Revenue 12,997,456 9,870,028 12,587,847 (409,609) Contributions from Other Funds 18,550,862 13,692,108 17,971,478 (579,384) Contributions from Primary Government 25,063 25,063 25,063 0 Contributions from Component Units 89,093,327 50,257,860 89,093,327 0 TOTAL REVENUES: 802,665, ,132, ,089,741 2,424,178 EXPENDITURES Personal Services 411,541, ,077, ,766,763 (3,225,430) Operating Expenses 222,924, ,557, ,642,874 1,282,106 Capital Outlay 9,072,843 4,910,858 8,778, ,157 Debt Service 315, , ,398 39,602 Grants and Aids 43,964,113 38,066,868 44,040,317 (76,204) Loans Contributions to Other Funds 140,612, ,128, ,719,201 (106,926) Contributions to Component Units 12,929,143 7,516,857 12,929,143 0 TOTAL EXPENDITURES: 841,359, ,533,412 (1) 843,152,382 (1,792,695) CURRENT YEAR: ($38,694,124) $15,598,657 ($38,062,641) $631,483 Transfer from/to fund balance 77,427,780 Reserve for prior year expenditures 6,876,848 Reserve appropriated (45,610,504) BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $36,766,681 37

38 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY PROPERTY APPRAISER FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 1,543,724 TOTAL 1,543,724 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 7,729 TOTAL LIABILITIES 7,729 FUND EQUITY Beginning of Year 693,701 Current Year Less Encumbrances 684,052 Reserves and Encumbrances 158,242 TOTAL FUND EQUITY 1,535,995 TOTAL ASSETS: $1,543,724 TOTAL LIABILITIES & FUND EQUITY $1,543,724 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 1,000 38,922 51,776 50,776 Charges for Services 204, , ,438 1,302 Miscellaneous Revenue 50,000 9,411 12,547 (37,453) Contributions from Other Funds 7,374,793 5,551,095 7,374,793 0 TOTAL REVENUES: 7,629,929 5,753,507 7,644,554 14,625 EXPENDITURES Personal Services 6,330,676 4,032,575 5,485, ,875 Operating Expenses 1,994,549 1,248,141 1,765, ,521 Capital Outlay 47,634 35,495 35,633 12,001 TOTAL EXPENDITURES: 8,372,859 5,316,211 (1) 7,286,462 1,086,397 CURRENT YEAR: ($742,930) $437,296 $358,092 $1,101,022 Transfer from/to fund balance 405,000 Reserve for prior year expenditures 337,930 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $158,242 38

39 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY CLERK OF THE COURT FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments (2,185,528) TOTAL (2,185,528) BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 502 TOTAL LIABILITIES 502 FUND EQUITY Beginning of Year (791,326) Current Year Less Encumbrances (1,455,952) Reserves and Encumbrances 61,248 TOTAL FUND EQUITY (2,186,030) TOTAL ASSETS: ($2,185,528) TOTAL LIABILITIES & FUND EQUITY ($2,185,528) REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 0 (35,379) (47,172) (47,172) Charges for Services 5,785,976 1,226,754 7,022,059 1,236,083 Miscellaneous Revenue TOTAL REVENUES: 5,785,976 1,191,375 6,974,887 1,188,911 EXPENDITURES Personal Services 1,625,130 1,376,105 1,835,721 (210,591) Operating Expenses 1,980,248 1,147,487 1,769, ,619 Capital Outlay 115, , , Contributions to Other Funds 2,304, ,299,452 (995,005) TOTAL EXPENDITURES: 6,025,785 2,631,824 (1) 7,020,633 (994,848) CURRENT YEAR: ($239,809) ($1,440,449) ($45,746) $194,063 Transfer from/to fund balance 45,746 Reserve for prior year expenditures 194,063 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $61,248 39

40 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY SPORTS COMPLEX FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments (1,048,727) Receivables, Net (21,275) TOTAL (1,070,002) BALANCE SHEET INFORMATION FUND EQUITY LIABILITIES AND FUND EQUITY Beginning of Year 13,998 Current Year Less Encumbrances (1,326,888) Reserves and Encumbrances 242,888 TOTAL FUND EQUITY (1,070,002) TOTAL ASSETS: ($1,070,002) TOTAL LIABILITIES & FUND EQUITY ($1,070,002) REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 25,000 (3,090) 10,000 (15,000) Charges for Services 2,687,716 1,701,385 2,637,556 (50,160) Miscellaneous Revenue 2,440, ,154 2,445,720 5,000 TOTAL REVENUES: 5,153,436 2,665,449 5,093,276 (60,160) EXPENDITURES Operating Expenses 1,630,515 1,274,921 1,821,315 (190,800) Capital Outlay 1,219, ,338 1,204,948 14,076 Contributions to Other Funds 2,622,921 1,967,190 2,622,921 0 TOTAL EXPENDITURES: 5,472,460 3,749,449 (1) 5,649,184 (176,724) CURRENT YEAR: ($319,024) ($1,084,000) ($555,908) ($236,884) Transfer from subfund 424 Capital Projects (573,533) Reserve for prior year expenditures 892,557 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $242,888 40

41 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY BUILDING INSPECTION FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 6,470,874 TOTAL 6,470,874 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 375,049 TOTAL LIABILITIES 375,049 FUND EQUITY Beginning of Year 4,838,012 Current Year Less Encumbrances 1,041,690 Reserves and Encumbrances 216,123 TOTAL FUND EQUITY 6,095,825 TOTAL ASSETS: $6,470,874 TOTAL LIABILITIES & FUND EQUITY $6,470,874 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 39, , , ,338 Fines and Forfeits 180, , ,958 4,958 Charges for Services 9,769,940 8,410,078 10,056, ,254 Miscellaneous Revenue 108, , ,355 54,355 TOTAL REVENUES: 10,097,338 8,776,115 10,544, ,905 EXPENDITURES Personal Services 6,865,063 5,166,936 7,353,011 (487,948) Operating Expenses 3,404,189 2,519,245 3,407,243 (3,054) Capital Outlay 33,001 2,407 30,075 2,926 TOTAL EXPENDITURES: 10,302,253 7,688,588 (1) 10,790,329 (488,076) CURRENT YEAR: ($204,915) $1,087,527 ($246,086) ($41,171) Transfer from/to fund balance 170,286 Reserve for prior year expenditures 34,629 Reserve appropriated 0 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $216,123 41

42 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY PUBLIC PARKING - 411, 412 FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 493,167 Fixed Assets, Net 12,751,024 TOTAL 13,244,191 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 1,557,370 Other Liabilities 17,574,974 TOTAL LIABILITIES 19,132,344 FUND EQUITY Beginning of Year (6,997,306) Current Year 1,109,153 Total Retained Earnings (5,888,153) TOTAL FUND EQUITY (5,888,153) TOTAL ASSETS: $13,244,191 TOTAL LIABILITIES & FUND EQUITY $13,244,191 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 5,364 12,299 16,399 11,035 Fines and Forfeits Charges for Services 2,884,537 2,211,184 2,935,054 50,517 Miscellaneous Revenue 2,877 4,632 6,176 3,299 Contributions from Other Funds 2,115,220 1,598,915 2,115,220 0 TOTAL REVENUES: 5,007,998 3,827,287 5,073,192 65,194 EXPENDITURES Personal Services 1,545,192 1,097,356 1,487,092 58,100 Operating Expenses 1,648,276 1,254,962 1,684,595 (36,319) Capital Outlay 537,201 92, ,200 1 Contributions to Other Funds 1,766,955 1,325,216 1,766,955 0 Contributions to Component Units 100,800 41, ,800 0 TOTAL EXPENDITURES: 5,598,424 3,812,094 (1) 5,576,642 21,782 CURRENT YEAR: ($590,426) $15,193 ($503,450) $86,976 Transfer from/to fund equity 537,200 Reserve for prior year expenditures 53,226 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $57,910 42

43 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY MOTOR VEHICLE INSPECTION FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 63,054 Receivables, Net 10,491 Due from Other Government Units 29,954 Inventories 10,034 Fixed Assets, Net 161,794 TOTAL 275,327 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 10,280 Other Liabilities 23,987 TOTAL LIABILITIES 34,267 FUND EQUITY Beginning of Year 262,862 Current Year (21,802) Total Retained Earnings 241,060 TOTAL FUND EQUITY 241,060 TOTAL ASSETS: $275,327 TOTAL LIABILITIES & FUND EQUITY $275,327 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 1,933 1,426 1,902 (31) Charges for Services 471, , ,340 46,644 Miscellaneous Revenue TOTAL REVENUES: 473, , ,242 46,613 EXPENDITURES Personal Services 320, , ,754 (22,082) Operating Expenses 158, , ,609 (20,347) TOTAL EXPENDITURES: 478, ,677 (1) 521,363 (42,429) CURRENT YEAR: ($5,305) $10,504 ($1,121) $4,184 Transfer from/to fund equity 3,597 Reserve for prior year expenditures 1,708 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $4,692 43

44 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY SOLID WASTE DISPOSAL FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 6,565,787 Receivables, Net 2,675,530 Due from Other Government Units 15,336 Fixed Assets, Net 31,347,854 Other Deferred Charges 32,054,392 TOTAL 72,658,899 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 287,465 Other Liabilities 47,749,124 TOTAL LIABILITIES 48,036,589 FUND EQUITY Beginning of Year 17,570,363 Current Year 7,051,947 Total Retained Earnings 24,622,310 TOTAL FUND EQUITY 24,622,310 TOTAL ASSETS: $72,658,899 TOTAL LIABILITIES & FUND EQUITY $72,658,899 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Franchise Fees 3,910,303 3,857,552 4,937,635 1,027,332 Earnings on Investment 0 143, , ,906 Fines and Forfeits Charges for Services 29,358,687 24,017,863 31,958,559 2,599,872 Miscellaneous Revenue 1,261, ,097 1,398, ,657 Contributions from Other Funds 28,027,849 21,142,637 28,027,849 0 TOTAL REVENUES: 62,557,935 50,114,550 66,493,702 3,935,767 EXPENDITURES Personal Services 6,064,090 4,643,176 6,270,761 (206,671) Operating Expenses 54,059,034 35,542,683 56,656,300 (2,597,266) Capital Outlay Contributions to Other Funds 5,520,380 4,140,285 5,520,380 0 TOTAL EXPENDITURES: 65,643,506 44,326,144 (1) 68,447,441 (2,803,935) CURRENT YEAR: ($3,085,571) $5,788,406 ($1,953,739) $1,131,832 Reserve for prior year expenditures 3,085,571 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $12,956,462 44

45 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY FLEET MANAGEMENT - 511, 512 FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 3,819,925 Receivables, Net 17 Due from Other Government Units 1,101,536 Inventories 1,071,331 Fixed Assets, Net 40,388,204 TOTAL 46,381,013 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 293,658 Other Liabilities 594,555 TOTAL LIABILITIES 888,213 FUND EQUITY Beginning of Year 54,346,046 Current Year (8,853,246) Total Retained Earnings 45,492,800 TOTAL FUND EQUITY 45,492,800 TOTAL ASSETS: $46,381,013 TOTAL LIABILITIES & FUND EQUITY $46,381,013 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 318, , ,607 (181,755) Charges for Services 28,531,700 21,650,544 29,478, ,957 Miscellaneous Revenue 1,547,214 1,032,631 1,153,789 (393,425) Contributions from Other Funds 140, , ,162 0 TOTAL REVENUES: 30,537,438 22,905,652 30,909, ,777 EXPENDITURES Personal Services 8,169,494 6,156,351 8,333,212 (163,718) Operating Expenses 20,938,516 14,958,825 21,553,543 (615,027) Capital Outlay 5,942,377 5,695,726 5,931,224 11,153 Contributions to Other Funds 5,518,362 4,138,772 5,518,362 0 TOTAL EXPENDITURES: 40,568,749 30,949,674 (1) 41,336,341 (767,592) CURRENT YEAR: ($10,031,311) ($8,044,022) ($10,427,126) ($395,815) Transfer from/to fund equity 4,390,168 Reserve for prior year expenditures 5,641,143 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $3,037,358 45

46 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY COPY CENTER FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 206,705 Due from Other Government Units 23 TOTAL 206,728 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 12,966 Other Liabilities 47,520 TOTAL LIABILITIES 60,486 FUND EQUITY Beginning of Year 83,608 Current Year 62,634 Total Retained Earnings 146,242 TOTAL FUND EQUITY 146,242 TOTAL ASSETS: $206,728 TOTAL LIABILITIES & FUND EQUITY $206,728 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 0 3,026 4,226 4,226 Charges for Services 1,326, ,596 1,238,128 (87,880) Miscellaneous Revenue Contributions from Other Funds 2,535 1,901 2,535 0 TOTAL REVENUES: 1,328, ,523 1,244,889 (83,654) EXPENDITURES Personal Services 222, , ,222 (1,996) Operating Expenses 1,120, , , ,166 Capital Outlay TOTAL EXPENDITURES: 1,342, ,889 (1) 1,223, ,171 CURRENT YEAR: ($13,689) $62,634 $21,828 $35,517 Reserve for prior year expenditures 13,689 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $116,406 46

47 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY INFORMATION TECHNOLOGIES - 531, 532 FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 2,650,706 Due from Other Government Units 400,454 Inventories 103,560 Fixed Assets, Net 1,173,930 TOTAL 4,328,650 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 428,627 Other Liabilities 706,110 TOTAL LIABILITIES 1,134,737 FUND EQUITY Beginning of Year 1,510,001 Current Year 1,683,912 Total Retained Earnings 3,193,913 TOTAL FUND EQUITY 3,193,913 TOTAL ASSETS: $4,328,650 TOTAL LIABILITIES & FUND EQUITY $4,328,650 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 55,393 19,735 26,312 (29,081) Charges for Services 21,555,507 17,831,078 22,582,937 1,027,430 Miscellaneous Revenue 7, , , ,401 Contributions from Other Funds 58,966 44,224 58,966 0 TOTAL REVENUES: 21,676,866 18,350,429 23,125,616 1,448,750 EXPENDITURES Personal Services 8,581,134 6,506,865 8,858,273 (277,139) Operating Expenses 14,643,738 10,040,450 14,600,250 43,488 Capital Outlay 612, , ,142 2 Contributions to Other Funds 700, , ,000 0 TOTAL EXPENDITURES: 24,537,016 17,670,285 (1) 24,770,665 (233,649) CURRENT YEAR: ($2,860,150) $680,144 ($1,645,049) $1,215,101 Transfer from/to fund equity 852,259 Reserve for prior year expenditures 2,007,891 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $2,976,296 47

48 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY COMMUNICATIONS - 533, 534 FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 422,701 Receivables, Net 3,424 Due from Other Government Units 148,878 Inventories 269,900 Fixed Assets, Net 1,394,046 TOTAL 2,238,949 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 164,277 Other Liabilities 364,441 TOTAL LIABILITIES 528,718 FUND EQUITY Beginning of Year (2,258,405) Current Year 3,968,636 Total Retained Earnings 1,710,231 TOTAL FUND EQUITY 1,710,231 TOTAL ASSETS: $2,238,949 TOTAL LIABILITIES & FUND EQUITY $2,238,949 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 133,973 (16,831) 1,459 (132,514) Charges for Services 14,390,782 13,013,554 15,872,432 1,481,650 Miscellaneous Revenue ,965,877 2,965,877 Contributions from Other Funds 16,082 12,062 16,082 0 TOTAL REVENUES: 14,540,837 13,009,385 18,855,850 4,315,013 EXPENDITURES Personal Services 2,214,203 1,613,061 2,183,863 30,340 Operating Expenses 12,814,573 9,757,853 13,553,013 (738,440) Capital Outlay 128,907 38, ,907 0 Contributions to Other Funds 1,400,000 1,050,000 1,400,000 0 TOTAL EXPENDITURES: 16,557,683 12,459,248 (1) 17,265,783 (708,100) CURRENT YEAR: ($2,016,846) $550,137 $1,590,067 $3,606,913 Transfer from/to fund equity 1,400,000 Reserve for prior year expenditures 616,846 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $1,973,648 48

49 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY GENERAL COUNSEL FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 1,899,241 Due from Other Government Units 474,788 Fixed Assets, Net 45,190 TOTAL 2,419,219 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 300,444 Other Liabilities 619,295 TOTAL LIABILITIES 919,739 FUND EQUITY Beginning of Year 437,683 Current Year 1,061,797 Total Retained Earnings 1,499,480 TOTAL FUND EQUITY 1,499,480 TOTAL ASSETS: $2,419,219 TOTAL LIABILITIES & FUND EQUITY $2,419,219 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 24,892 31,211 41,615 16,723 Charges for Services 7,524,548 6,296,611 8,395, ,933 Miscellaneous Revenue 0 1,404 1,622 1,622 Contributions from Other Funds 29,930 22,448 29,930 0 TOTAL REVENUES: 7,579,370 6,351,674 8,468, ,278 EXPENDITURES Personal Services 6,005,396 4,524,174 6,238,813 (233,417) Operating Expenses 2,529,690 1,696,485 2,335, ,685 Capital Outlay TOTAL EXPENDITURES: 8,535,087 6,220,659 (1) 8,573,819 (38,732) CURRENT YEAR: ($955,717) $131,015 ($105,171) $850,546 Transfer from/to fund equity 946,383 Reserve for prior year expenditures 9,334 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $129,806 49

50 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY SELF INSURANCE FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 27,764,707 Receivables, Net 1,409,000 Due from/advances to Other Funds 13,682,336 Due from Other Government Units 791,973 Other Current Assets 727,153 Fixed Assets, Net 6,428 Other Non-Current Assets 16,158,956 TOTAL 60,540,553 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities (130,197) Other Liabilities 24,710 TOTAL LIABILITIES (105,487) FUND EQUITY Beginning of Year 911,294 Current Year 3,016,840 Total Retained Earnings 3,928,134 Reserves 56,717,906 TOTAL FUND EQUITY 60,646,040 TOTAL ASSETS: $60,540,553 TOTAL LIABILITIES & FUND EQUITY $60,540,553 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 695,400 1,087,506 1,421, ,748 Charges for Services 24,227,260 20,253,299 25,269,433 1,042,173 Miscellaneous Revenue ,039 1,039 Contributions from Other Funds 5, , , ,452 TOTAL REVENUES: 24,927,679 22,149,055 27,499,091 2,571,412 EXPENDITURES Personal Services 570, , ,918 (51,965) Operating Expenses 25,649,325 18,982,497 26,383,915 (734,590) Capital Outlay Contributions to Other Funds 6,145,914 6,145,914 6,145,914 0 TOTAL EXPENDITURES: 32,366,194 25,571,535 (1) 33,152,749 (786,555) CURRENT YEAR: ($7,438,515) ($3,422,480) ($5,653,658) $1,784,857 Transfer from/to fund equity 6,441,662 Reserve for prior year expenditures 996,853 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $1,361,447 50

51 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY GROUP HEALTH AND LIFE FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 5,481,335 Due from Other Government Units 1,680 Fixed Assets, Net 4,359 TOTAL 5,487,374 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 39,960 Other Liabilities 45,057 TOTAL LIABILITIES 85,017 FUND EQUITY Beginning of Year 484,593 Current Year 4,917,764 Total Retained Earnings 5,402,357 TOTAL FUND EQUITY 5,402,357 TOTAL ASSETS: $5,487,374 TOTAL LIABILITIES & FUND EQUITY $5,487,374 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 79, , ,975 70,852 Charges for Services 66,707,057 48,243,219 65,852,878 (854,179) Miscellaneous Revenue 0 24,286 24,286 24,286 Contributions from Other Funds 4,698 3,524 4,698 0 TOTAL REVENUES: 66,790,878 48,399,935 66,031,837 (759,041) EXPENDITURES Personal Services 721, , ,286 (19,371) Operating Expenses 66,177,445 42,943,089 65,197, ,550 Capital Outlay TOTAL EXPENDITURES: 66,899,361 43,478,569 (1) 65,939, ,179 CURRENT YEAR: ($108,483) $4,921,366 $92,655 $201,138 Reserve for prior year expenditures 108,483 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $106,926 51

52 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY INSURED PROGRAMS FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 2,611,341 Due from/advances to Other Funds 777,772 Other Current Assets 2,457,453 Fixed Assets, Net 2,940 TOTAL 5,849,506 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 2,465,945 Other Liabilities 19,814 TOTAL LIABILITIES 2,485,759 FUND EQUITY Beginning of Year 2,799,432 Current Year 564,315 Total Retained Earnings 3,363,747 TOTAL FUND EQUITY 3,363,747 TOTAL ASSETS: $5,849,506 TOTAL LIABILITIES & FUND EQUITY $5,849,506 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 3 48,923 60,175 60,172 Charges for Services 7,459,804 6,571,158 7,610, ,551 Miscellaneous Revenue Contributions from Other Funds 1,960 1,470 1,960 0 TOTAL REVENUES: 7,461,767 6,621,551 7,672, ,723 EXPENDITURES Personal Services 397, , , ,897 Operating Expenses 7,287,465 5,858,451 7,390,845 (103,380) Capital Outlay TOTAL EXPENDITURES: 7,684,895 6,052,470 (1) 7,659,378 25,517 CURRENT YEAR: ($223,128) $569,081 $13,112 $236,240 Transfer from/to fund equity (438,488) Reserve for prior year expenditures 661,616 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $710,004 52

53 CONSOLIDATED CITY OF JACKSONVILLE QUARTERLY FINANCIAL SUMMARY JACKSONVILLE ECONOMIC DEVELOPMENT COMMISSION FOR THE QUARTER ENDED JUNE 30, 2005 ASSETS Pooled Cash and Investments 2,751,047 TOTAL 2,751,047 BALANCE SHEET INFORMATION LIABILITIES LIABILITIES AND FUND EQUITY Current Liabilities 519,844 TOTAL LIABILITIES 519,844 FUND EQUITY Beginning of Year 1,528,730 Current Year Less Encumbrances (1,316,318) Reserves and Encumbrances 2,018,791 TOTAL FUND EQUITY 2,231,203 TOTAL ASSETS: $2,751,047 TOTAL LIABILITIES & FUND EQUITY $2,751,047 REVISED BUDGET BUDGET INFORMATION ACTUAL YEAR TO DATE PROJECTED VARIANCE FAVORABLE (UNFAVORABLE) REVENUES Earnings on Investment 65,397 66,184 88,245 22,848 Miscellaneous Revenue 35,000 33,704 36,916 1,916 Contributions from Primary Government 8,379,143 6,291,857 8,379,143 0 TOTAL REVENUES: 8,479,540 6,391,745 8,504,304 24,764 EXPENDITURES Personal Services 2,768,739 2,011,463 2,544, ,186 Operating Expenses 5,266,962 2,466,009 4,956, ,149 Capital Outlay Grants and Aids 2,277,010 1,786,736 2,277,010 0 Contributions to Component Units 25,063 25,063 25,063 0 TOTAL EXPENDITURES: 10,337,778 6,289,271 (1) 9,803, ,335 CURRENT YEAR: ($1,858,238) $102,474 ($1,299,139) $559,099 Transfer from/to fund balance 600,000 Reserve for prior year expenditures 1,258,238 BUDGET DIFFERENCE: $0 (1) Does not include encumbrances of: $2,018,791 53

54 54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84