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Home My WebLink AboutPresentation_Regular_12/12/2024 (3)Financial Overview 1 December 12, 2024 24-- Financial Overview 2 2024. operations for the various Village funds as of and for the year ending September 30, represent the results of (subject to change) and The amounts herein are unaudited for the preceding fiscal year. close of each fiscal year, a complete report of the operation and business of the Village Charter, which requires submission to the Village Council, within ninety (90) days after the 3.03(10) of the Village Article III, Section This financial overview is presented pursuant to Objectives:24-FY 2023– Listing of Village Funds by Type 3 from user fees and charges.receive a significant portion of support Enterprise funds account for activities that grants and similar revenue sources.for activities primarily supported by taxes, Governmental funds are used to account FundRefuse and Recycling •Stormwater Utility Fund•Water Utility Fund•Enterprise FundsEnforcement FundSpecial Law •Capital Projects Fund•FundCapital Improvement •Building Fund•General Fund•Governmental Funds General Fund 4 governmental services.enforcement), public works, parks & recreation, other general Typical services include, public safety (fire, police, code that are not found in the for profit businesses.Accounts for all financial resources and operations of the Village, intergovernmental revenue and charges for services.Funded mainly from property taxes, franchise taxes, utility taxes, The Village’s primary operating fund. General Fund Revenues 5(Budget vs. Actual) FY 2023-24 FY 2023-24 $ Variance % Change Revenue Description(Budget)(Actual)Pos/(Neg)Pos/-Neg Property taxes$11,524,090 $11,703,838 $ 179,748 1.56% Other taxes 1,350,252 1,531,174 180,92213.40% Franchise fees 530,938 592,096 61,158 11.52% Grants 177,549 76,509 (101,040) -56.91% Intergovernmental 984,222 1,076,260 92,038 9.35% Charges for services 1,578,500 1,669,063 90,563 5.74% Indirect charges 902,991 902,991 -0.00% Rents and royalties 188,839 210,713 21,874 11.58% Miscellaneous 87,047 138,969 51,922 59.65% Interest 280,500 651,918 371,418132.41% Total$17,604,928 $18,553,531 948,6035.39% General Fund 6 Summary by Department Budget - FY 2023-24 FY 2023-24 $ Variance % Change Department (Budget)(Actual)Pos/(Neg)Pos/-Neg Council$ 76,000$ 75,977$ 230.03% Manager 388,000 387,714 2860.07% Human Resources 455,239 421,553 33,6867.40% Village Clerk 447,453 400,474 46,97910.50% Finance 807,224 784,289 22,9352.84% Legal 215,500 215,275 2250.10% Comprehensive Planning 462,676 308,838 153,83833.25% General Government 329,212 281,379 47,83314.53% IT 549,931 548,057 1,874 0.34% Police Department 3,829,569 3,731,760 97,8092.55% Code Compliance 109,261 58,574 50,68746.39% Fire Control 5,501,292 5,443,307 57,9851.05% Public Works 1,666,445 1,567,694 98,7515.93% Leisure Services 1,290,152 1,219,539 70,6135.47% Debt Service 558,350 558,323 27 0.00% Interfund Transfers 1,700,008 1,700,008 -0.00% Total$ 18,386,312 $ 17,702,761 $ 683,551 3.72% General Fund 7$8,879,506Fund Balance: Total $2,046,407–Time Projects -Available for One$45,470 –Budget Rolled $4,859,309-Target Reserve (3 Months) $500,000-Transfer of FB Vehicle Replacement$500,000- $294,000-Debt Service Reserve $634,320-spendable -Non24:-Components of Fund Balance FY 2023 Fund Balance Calculation- Beginning Balance - 10/01/23$ 8,028,736 Revenues/Other Sources 18,553,531 Expenditures/Other Uses (17,702,761) Change in Fund Balance 850,770 Ending Fund Balance - 09/30/2024$ 8,879,506 General Fund 8$8,879,506$8,028,736$7,431,840$6,206,380$3,394,469$3,670,429$3,882,111$4,345,896Total Fund Bal.$2,046,407$1,407,984$478,534$4,356,864$1,884,304$1,479,005$1,150,229$1,478,525Available for AppropriationsFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-Total Fund Bal.Available for Appropriations Fund Balance History- General Fund 9$2,046,407$2,046,407 GF Expenditures(Unaudited): 11% of Appropriation Available for $4,859,309$4,859,309 ExpendituresTarget: 25% of GF Fund Balance Disaster Unassigned Fund Balance– Building Fund 10 Building Fund reserves $312,277in Building Fund reserves: Reduction $1,045,078Total Building Fund expenditures: $727,801Total Building Fund revenues: $608,708 -FY24 $ 1,053,625-FY23 $751,857-FY22 Building permit fees collected: Codecarrying out responsibilities in enforcing the The revenue obtained shall be used solely for and private buildings, structures and facilities Accounts for permit fees required on all public  Other Governmental Funds 11 Forfeiture Seizures.Funding Source: Asset Enforcement TrustSpecial Law Bonds, & Notes.Funding Source: Transfers, Capital Projects receipts.surtax funds; water utility tax Funding Source: Infrastructure Capital Improvement Capital Improvement 12 Fund 301)–(Surtax Fund Restricted Fund Balance Beginning Balance, as of 10/01/2023$ 1,296,673 Revenues/Other Sources 1,037,223 Expenditures/Other Uses (1,502,371) Change in Fund Balance (465,148) Ending Balance, as of 09/30/2024$ 831,525 Capital Projects Fund 13( Fund 303) Restricted Fund Balance Beginning Balance, as of 10/01/2023$ 262,355 Revenues/Other Sources 1,896,082 Expenditures/Other Uses (752,502) Change in Fund Balance 1,143,580 Ending Balance, as of 09/30/2024$ 1,405,935 Special Law Enforcement 14 Trust Fund Restricted Fund Balance Beginning Balance, as of 10/01/2023$ 315,397 Revenues/Other Sources 75,788 Expenditures/Other Uses (133,609) Change in Fund Balance (57,821) Ending Balance, as of 09/30/2024$ 257,576 Enterprise Funds 1515 maintenance of the Village’s Accounts for the operation and Stormwater Utility Fund garbage and recyclable materials. user fees for collection of residential Accounts for the expenses and related Fund surrounding communities.of potable water to Village residents and which includes processing and distribution Accounts for activities of the water utility, type Activities) -(Business Total Revenue/Expenses 16 $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-$6,029,579$5,389,294$5,551,567$5,832,408$5,964,202Expenses$9 ,333,926$7,545,186$6,726,004$6,718,002$6,467,035RevenuesFY2024 (Unaudited)FY2023FY2022FY2021FY2020 Water Utility Fund– Water Utility Fund 17 FY2023 FY2024 $ Change % Change Department(Actual)(Unaudited)Pos/(Neg)Pos/(Neg) Dept 241 - WATER-ADMINISTRATION$ 1,300,181$ 1,610,297$ 310,116 23.85% Dept 242 - WATER - PRODUCTION 2,006,159 2,138,533 132,3746.60% Dept 243 - WATER-DISTRIBUTION 789,884 803,296 13,4121.70% Dept 244 - WATER CUSTOMER SERVICE 328,753 319,073 (9,680)-2.94% Dept 411 - RENEWAL & REPLACEMENT 185,332 320,936 135,60473.17% Dept 700 - DEBT SERVICE 102,199 87,444 (14,755)-14.44% Dept 950 - OTHER NONOPERATING 676,786 750,000 73,21410.82% Total$ 5,389,294$ 6,029,579$ 640,285 11.88% Water Utility Fund Capital) are $1.7 million.Target Reserves of 25%/expenses (less 18 Unrestricted Net Position Beginning Balance, as of 10/01/2023$ 9,150,264 Revenues/Other Sources 9,333,926 Expenditures/Other Uses (6,029,579) Change in Fund Balance 3,304,347 Ending Balance, as of 09/30/2024$ 12,454,611 Total Revenue/Expenses 19 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000$617,328$600,664$529,107$511,300$496,619Expenses$606,853$575,594$507,465$487,006$488 ,558RevenuesFY2024 (Unaudited)FY2023FY2022FY2021FY2020 Refuse & Recycling Fund– Refuse & Recycling Fund 20 Unrestricted Net Position Beginning Balance, as of 10/01/2023$ 47,573 Revenues/Other Sources 606,853 Expenditures/Other Uses (617,328) Change in Fund Balance (10,475) Ending Balance, as of 09/30/2024$ 37,098 Total Revenue/Expenses 21 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-$648,193$564,491$715,004$524,735$453,776Expenses$585,106$1,062,073$686,653$466,769$440,535RevenuesFY2024 (Unaudited)FY2023FY2022FY2021FY2020 Stormwater Utility Fund– JS1 Slide 21 JS1 Increase in revenues impacted by ARPA Funds transfer Jeffery Snyder, 12/7/2022 Stormwater Utility Fund 22 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $- $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-$648,193$530,536$715,005$639,007$453,776Total Expenses$413,303$-$220,708$250,905$101,448Drainage Maint. ExpenseFY2024 (Unaudited)FY2023FY2022FY2021FY20 20 Expense Analysis– Stormwater Utility Fund 23 Unrestricted Net Position Beginning Balance, as of 10/01/2023$ 480,854 Revenues/Other Sources 585,106 Expenditures/Other Uses (648,193) Change in Fund Balance (63,087) Ending Balance, as of 09/30/2024$ 417,767 Purchase Order Rolled into 24 25-FY 2024 General Fund:Amount RolledProject/Activity Public Works$19,892 A/C Handler Village Hall Building Public Works 25,578 A/C Unit Public Safety Building Total$ 45,470 Building Fund:Amount RolledProject/Activity Building$ 11,000EPLANSOF Implementation and Training Total$ 11,000 Capital Projects Fund:Amount RolledProject/Activity Leisure Services$ 3,729Remembrance Park Limited Const Eng & Inspection Services Leisure Services 846,158Remembrance Park Construction Public Works 24,459Country Club Dr. Roadway & Drainage Improvement PH1 Public Works 293,372Road Improvemts Country Club Dr. Total$ 1,167,717 Purchase Order Rolled into 25 25-2024FY Water Fund:Amount RolledProject/Activity Water Utility$ 1,247,248Water Main Replacement Project - Country Club Water Utility 18,600WM #2 Beach Rd PH 2 SRF Assistance Water Utility 19,375Bid Document Assistance - Pressurized Vessel Upgrades Water Utility 23,522Train #2 Membrane Replacement - Dover Engineering Water Utility 191,499Concentrate Disposal Main Relocate Final - FDOT Bridge Water Utility 76,327Goulds Pump - Well R3 Replacement Water Utility 24,860SRF Assistance for Water Treatment Plant Upgrades Total$ 1,601,432 Stormwater Fund:Amount RolledProject/Activity Stormwater 4,899 Dover Ditch - Living Shoreline Design & Permitting Total$ 4,899 Grand Total$ 2,830,519 Questions 26