Fort Walton Beach — Fiscal Year 2022-23 Adopted Budget — reading text

696,895 $ 837,310 TOTAL EXPENSES $ 844,889 0.91% $ (755,694) $ (736,513) $ (696,895) $ (837,310) NET REVENUE / (EXPENSE) $ (844,889) 0.91% 67 0500-Finance 8/28/2022 3:22 PM FINANCE Share of City Budget $844,889, 1.5% DESCRIPTION Finance's primary function is to maintain financial stability for the City. Responsibilities include monitoring appropriations, revenues, and expenditures; developing policies and procedures relating to finance issues; ensuring compliance with City, State, and Federal regulations; and oversight of purchasing and customer service. MISSION Provide professional support in financial administration, uphold the public's trust and reliance on financial reports, and maintain the City's sound financial position and stability while offering quality services efficiently and responsively. Actual YTD thru 03/31 Budget CURRENT GOALS, OBJECTIVES, & METRICS (FY23) 2018-19 2019-20 2020-21 2021-22 2021-22 2022-23 Provide Accurate and Timely Financial Information Monthly Financial Reports Prepared within 20 Days 90% 80% 95% 95% 95% 96% Findings From External Auditors 5 5 2 annual measure 2 2 Prepare Useful & Meaningful Financial Documents to the Public Achieve GFOA Distinguished Budget Presentation Award (possible points awarded) 95% 98% 99% annual measure 95% 95% Achieve GFOA Certificate of Achievement for Financial Reporting    annual measure    Prepare 95% of monthly financial reports within 20 days of the end of the month to provide timely financial information.  Achieve growth beyond the rate of inflation for invested surplus funds.  Increase the number of grants awarded to the City through grant-writing training and new avenues of grant opportunities. FUTURE GOALS (FY24 & FY25)  Automate reporting process by converting monthly financial and budget reports to Q-Rep software.  Review and update all finance policies and procedures to ensure accuracy, completeness, and functionality.  Provide internal training opportunities for city staff to enable effective use of the available information within the City's computerized accounting system.  Process improvement and automation of daily tasks to reduce errors and allow more time for cross-training. PRIOR YEAR ACCOMPLISHMENTS (FY22)  Received GFOA Distinguished Budget Presentation Award and Certificate of Achievement for Financial Reporting.  Accounting division staff is staffed accordingly and trained.  SOP have been completed for payroll, senior accountant, and year end. 68  001 GENERAL FUND - 0530 PURCHASING Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change Revenues: Division Does Not Generate Revenue $ - $ - $ - $ - TOTAL REVENUES $ - 0.00% Personnel Services: 3.00 3.00 3.00 3.00 Number of Funded Employees (FTE's) 3.00 126,549 140,782 142,769 154,752 513-1200 Regular Salaries 159,407 3.01% - 100 - 300 513-1201 Service Awards 4,600 1433.33% - - - 100 513-1400 Overtime 100 0.00% 7,696 8,595 8,692 9,041 513-2100 FICA Taxes 9,688 7.16% 1,800 2,010 2,033 2,114 513-2101 Medicare 2,266 7.18% 21,220 18,370 18,685 10,401 513-2200 Retirement Contributions 6,628 -36.28% 6,446 7,484 7,626 7,941 513-2204 Retirement Contributions - DC Plan 8,578 8.02% 7,597 8,500 8,934 9,097 513-2300 Dental, Life & Health Insurance 9,104 0.08% 239 185 187 238 513-2400 Worker's Compensation 255 7.17% $ 171,547 $ 186,027 $ 188,925 $ 193,984 Total Personal Services $ 200,625 3.42% Operating Expenditures: 7,922 8,159 8,404 8,783 513-3100 Professional Services - -100.00% - - - 1,335 513-4000 Travel and Per Diem 1,135 -14.98% 743 826 949 212 513-4100 Communication Services 1,126 431.11% 103 34 41 120 513-4200 Postage 75 -37.50% - 27 107 - 513-4400 Rentals & Leases - 0.00% 56 379 333 500 513-4630 Equipment Repair 500 0.00% 35 - - 75 513-4700 Printing & Binding 25 -66.67% - - 111 350 513-5100 Office Supplies 375 7.14% - - - 500 513-5200 Operating Supplies 800 60.00% - - - 361 513-5204 Fuel & Oil - -100.00% - 124 103 300 513-5210 Uniform Expense 300 0.00% 285 235 330 804 513-5400 Books, Dues & Publications 804 0.00% 169 249 - - 513-5500 Training - NIGP online courses (2 classes) 500 100.00% $ 9,313 $ 10,033 $ 10,378 $ 13,339 Total Operating Expenditures $ 5,640 -57.72% Debt Service 666 - - - 581-9121 Transfer to Debt Service Fund - 0.00% $ 666 $ - $ - $ - Total Debt Service $ - 0.00% $ 181,526 $ 196,061 $ 199,302 $ 207,322 TOTAL EXPENSES $ 206,263 -0.51% $ (181,526) $ (196,061) $ (199,302) $ (207,322) NET REVENUE / (EXPENSE) $ (206,263) -0.51% 69 0530-Purchasing 8/28/2022 3:28 PM PURCHASING Share of City Budget $206,263, DESCRIPTION .04% Purchasing is responsible for the acquisition of supplies, materials, equipment, and other commodities needed for operations, as well as supervising the preparation and processing of all bids, proposals, quotations, and required advertisements. MISSION Procure goods and services at the best possible cost consistent with the quality needed to provide the best services to the public. Actual YTD thru 03/31 Budget CURRENT GOALS, OBJECTIVES, & METRICS (FY23) 2018-19 2019-20 2020-21 2021-22 2021-22 2022-23 Procure Products As Efficiently As Possible Purchases Made By Purchase Order 3,279 3,247 2,886 1,180 3,000 3,000 Time Between Requisition Approval And Purchase Order Creation 2% 9% 3% 0% <4% <4%  Develop training documents for Purchasing Division to assure continuity of proper purchasing policies and city requirements.  Systematically update wording requirements for formal bid documents. FUTURE GOALS (FY24 & FY25)  Update City Purchasing Policies and bring to City Council for approval. PRIOR YEAR ACCOMPLISHMENTS (FY22)  Updated active contract lists, and refined systems for tracking contract expirations. 70  001 GENERAL FUND - 0800 POLICE Actual