FINANCE DEPARTMENT REPORT
FOR QUARTER ENDED
June 30, 2003
1. Department of Finance
The principal functions of the Finance Department office are:
Supervision of all disbursements.
Maintenance of the City’s accounting system including necessary financial reporting and payroll functions.
Overseeing assessments for all property in the City for tax purposes.
Collection of all money’s due the City.
Investment of all funds in accordance with guidelines of the City Investment Policy.
2. Annual Operating Program
Investing surplus funds in accordance with the City Investment Policy.
Reporting the status of expenditures.
Maintaining assessment information.
Collection of delinquent taxes and special assessments.
Billing the water/sewer accounts, tax accounts and miscellaneous accounts receivable.
Preparation of bi-weekly payroll for city employees.
Preparation of budget.
Preparation of State and Federal reports.
3. Financial Information
General |
Assessable
Basis |
Levy |
Collected
To Date |
% of
Levy |
Unpaid |
|
Real Property |
$1,158,743,252 |
$ 7,555,006 |
$ 7,458,023 |
99% |
$96,983 |
|
Personal Prop. |
$ 8,112,504 |
$ 132,234 |
$ 120,946 |
91% |
$ 11,288 |
|
OBC Property |
$ 237,862,745 |
$ 3,877,163 |
$ 3,831,823 |
99% |
$45,340 |
|
Total |
$1,404,718,500 |
$11,564,403 |
$11,410,793 |
|
$153,610 |
Revenues |
Budget |
Revenues
To Date |
% of
Budget |
|
General Fund |
$19,762,080 |
$18,297,468 |
93% |
|
Water/Sewer |
$ 7,909,000 |
$ 8,268,088 |
105% |
|
Marina |
$ 61,970 |
$ 57,782 |
93% |
|
EMS |
$ 2,037,000 |
$ 2,193,828 |
108% |
|
Expenditures |
Budget |
Spent
To Date |
% of
Budget |
|
General Fund |
$20, 493,352 |
$17,824,851 |
87% |
|
Water/Sewer |
$ 8,897,819 |
$ 6,842,005 |
77% |
|
Marina |
$ 61,970 |
$ 57,782 |
93% |
|
EMS |
$ 2,037,000 |
$ 2,193,828 |
108% |
4. Investments in the City Portfolio at end of quarter
|
Fund |
Yield |
Amount |
Maturity |
Type |
Bank |
|
Various |
1.03 |
$16,938,938.92 |
As needed |
LGIP |
Mercantile |
|
General |
1.03 |
$ 1,188,331.22 |
As needed |
LGIP |
Mercantile |
|
General |
0.55 |
$ 1,472,748.67 |
1-Jul-03 |
Repo |
Bank of America |
|
Insurance |
1.03 |
$ 21,406.31 |
As needed |
LGIP |
Mercantile |
Various
5. Transfers from Salary Accounts
|
Date |
# |
Amount |
Description |
|
25-Jun-03 |
Fire |
$60.00 |
Shortage of funds in Volunteer Auditing Account |
|
20-Jun-03 |
Fire |
$500.00 |
Shortage of funds in Equipment Repair Account |
|
20-Jun-03 |
Fire |
$ 3,000.00 |
Shortage of funds in Vehicle/Auto Maint |
|
20-Jun-03 |
Fire |
$ 600.00 |
Shortage of funds in Janitorial Account |
|
20-Jun-03 |
Fire |
$3,500.00 |
Shortage of funds in Medical Account |
|
20-Jun-03 |
Fire |
$4,700.00 |
Shortage of funds in Gasoline Account |
|
05-Jun-03 |
Sewer Fund |
$3,000.00 |
To cover Temporary Manpower position |
|
03-Jun-03 |
Fire |
$9,000.00 |
Shortage of funds in Electricity Account |
|
03-Jun-03 |
Fire |
$ 500.00 |
Shortage of funds in Computer Account |
|
03-Jun-03 |
Fire |
$3,500.00 |
Shortage of funds in Training/Schools Account |
|
03-Jun-03 |
Fire |
$11,000.00 |
Shortage of funds in Turnout Gear Account |
|
03-Jun-03 |
Fire |
$1,800.00 |
Shortage of funds in Uniform Purchases Account |
|
09-Jun-03 |
Purchasing |
$1,000.00 |
Shortage of funds in the Advertising Account |
|
09-Jun-03 |
Purchasing |
$ 930.00 |
Shortage of funds in the Energy Consulting Account |
|
16-May-03 |
Water Fund |
$ 650.00 |
Shortage of funds in Office Supplies |
|
04-Apr-03 |
Public Works |
$ 100.00 |
Shortage of funds in Employee Meals |
|