READ ALONGSIDE THE SOURCE
Fort Walton Beach Council agenda — 8-11-14--proposed budget — reading text
Part 66 of 86. These parts divide the reading text for browsing; they are not the source document's page numbers.
Machine-extracted text — fwb-33538-original.pdf
Machine-extracted OCR text · Review label: Machine produced / unreviewed
Compare this copy with the preserved source. Review labels describe the recorded status of this file; they do not guarantee that the text is error-free. Spacing and line breaks are retained, with long lines wrapped to fit the screen.
- - 1313 20132013
- - 1414 20142014
- - 1515
aa DebtDebt SmiceSmice
CapitalCapital Lease/Lease/ Purchases:Purchases:
PhonePhone SystemSystem
( ( yearyear 22 ofof 6)6)
DebtDebt Issues:Issues:
2011A2011A RevenueRevenue NoteNote
— — FireFire LadderLadder TruckTruck
( ( yearyear 44 ofof 10)10)
— — GolfGolf MowersMowers
2011B2011B RevenueRevenue NoteNote ( ( yearyear 44 ofof 5)5)
— — MunicipalMunicipal Facilities Facilities
20132013 RevenueRevenue NoteNote ( ( yearyear 22 ofof 18)18)
2013A2013A BankBank LoanLoan
— — RecreationRecreation Complex,Complex, FairwayFairway SweeperNacuum,SweeperNacuum, BucketBucket TruckTruck
( ( yearyear 22 ofof 15)15)
— — FireFire PumperPumper TruckTruck
20152015 Interfund Interfund LoanLoan ( ( yearyear 11 ofof 10)10)
xoi DEBT SERVICE FUND
Actual Budget
2013. 14 2014. 15
2010 -11 2011 - 12 2012. 2013 Adopted City Manager Change
455,903 455,333 181, 484 198, 619 1600- 381 -woo Transfer from General Fund 163, 662 17. 60%
306; 192 1600-381 -1301 Transfer from General Fund - 2013 Sinking Fund 309, 217 0. 99%
557, 525 1600 -381 -1302 Transfer from General Fund - 2013A Sinking Fund 557, 525 0. 00%
455, 903 455, 333 181, 484 1, 062, 336 Total Interfund Transfers 1, 030,404 3. 01%
91 1 1, 030,404:-, 1
Debt Service:
198, 699 211, 683 70, 488 663, 651 2100-517. 7100 Principal Payments 681, 019 2.62%
235,890 243, 582 202, 719 398, 685 2100 -517 -7200 Interest Expense 349,386 12. 37%
377 377 627 2100-517 -7300 Paying Agent Fees 0. 00%
434,967 455, 642 273, 835 1, 062, 336 Total Debt Service 1, 030,404 3. 01%
TOTAL FUND EXPENSES - 1, 030,404':
201201
- - DebtDebt 7/7/ 31/31/ 20142014 8:8: 3333 AMAM
Beal Memorial Cemetery Fund
The Beal Memorial Cemetery Perpetual Care Fund encompasses 0. 2% of the City' s activities and
services and accounts for a portion of revenues from lot, crypt, and niche sales that are being reserved
for perpetual care. Cemetery operations are currently funded in the General Fund, but interest earnings
on the reserves will be used for maintaining the cemetery once all spaces have been sold.
Revenue Highlights
100. 000
Budget
90. 000
2014 -15 S Change Change
80. 000
Interest & Other 31, 000 0 0. 0%
70.000
Interfund Transfers In 36. 000 0 0. 0%
560. 000
67, 000 s0 0. 0%
50. 000
40. 000
30.000
20. 000
10. 000
s0
Actual Actual Actual Budget Budget
2010 -11 2011 - 12 2012 -13 2013 - 14 2014 -15
e Interest & Other a Interfund Transfers
The City recently transitioned from a short- term internally -managed portfolio of certificates of
deposit, money market funds, and bank accounts to a long -term externally- managed portfolio of
equities and bonds, accounting for the budgeted increase in interest earnings.
Transfers In reflects the transfer of 20% of cemetery lot sales from the General Fund to fund perpetual
care, as established by Ordinance 526.
Expenditure Highlights
100. 000
90. 000 Budget
80.000 2014 -15 S Change Change
70.000 Operations & Maintenance 8, 000 0 0. 0%
60.000 Replenish Reserves 59, 000 0 0. 0%
50.000 67, 000 s0 0. 0%
St0.000
30.000
20.000
10. 000
s0
Actual Actual Actual Budget Budget
2010 -11 2011 - 12 2012 - 13 2013 -14 2014 -15
Operations & Maintenance a Inrerfund Transfers Replenish Resenros
Operations & maintenance includes the annual investment portfolio management fee.
Reserves reflect the excess of revenues over expenses; new funds for investment.
602 BEAL MEMORIAL CEMETERY CARE FUND
Actual Budget
2013 -14 2014. 15
2010 -11 2011 -12 2012 -13 Adopted City Manager Change
16, 601 10, 224 14, 795 31, 000 1500 -361 -1000 Interest Income 31, 000 0. 00%
11, 508 1500 -361 - 2000 Dividend Income 0. 00%
5, 700) 4, 337 14, 774 1500 -361 - 3000 Unrealized Gain /(Loss) 0.00%
266) 7, 718 1500- 361 -4000 Realized Gain /(Loss) 0.00%
10, 901 14, 295 $ 48, 795 31, 000 Total Interest Income 31, 000 0. 00%
22,22, 726726 33,33, 251251 38,38, 526526 36,36, 000000 22oo.22oo. 381381- - oloooloo TransferTransfer fromfrom GeneralGeneral FundFund 36,36, 000000 0.0. 00%
00%
22,22, 726726
$ $ 33,33, 251251
$ $ 38,38, 526526