FINANCE DEPARTMENT REPORT
FOR QUARTER ENDED
March 31, 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 |
$ 7,346,297 |
97% |
$208,709 |
Personal Prop. |
$ 8,112,504 |
$ 132,234 |
$ 107,621 |
81% |
$ 24,613 |
OBC Property |
$ 237,862,745 |
$ 3,877,163 |
$ 3,419,841 |
88% |
$457,322 |
Total |
$1,404,718,500 |
$11,564,403 |
$10,873,759 |
|
$690,644 |
Revenues |
Budget |
Revenues To Date |
% of Budget |
General Fund |
$19,762,080 |
$15,801,301 |
80% |
Water/Sewer |
$ 7,909,000 |
$ 1,262,964 |
16% |
Marina |
$ 45,430 |
$ 34,063 |
75% |
EMS |
$ 2,037,000 |
$ 1,669,483 |
82% |
Expenditures |
Budget |
Spent To Date |
% of Budget |
General Fund |
$20, 493,352 |
$14,311,497 |
70% |
Water/Sewer |
$ 8,908,388 |
$ 5,251,165 |
59% |
Marina |
$ 90,468 |
$ 86,372 |
95% |
EMS |
$ 2,119,386 |
$ 1,229,607 |
58% |
4. Investments in the City Portfolio at end of quarter
Fund |
Yield |
Amount |
Maturity |
Type |
Bank |
Various |
1.23 |
$17,887,726.88 |
As needed |
LGIP |
Mercantile |
General |
1.23 |
$ 1,184,814.32 |
As needed |
LGIP |
Mercantile |
General |
0.66 |
$ 1,028,851.40 |
1-Apr-03 |
Repo |
Bank of America |
Insurance |
1.23 |
$ 21,341.79 |
As needed |
LGIP |
Mercantile |
Various
5. Transfers from Salary Accounts
Date |
# |
Amount |
Description |
14-Jan-03 |
EMS |
$1,007.00 |
Funds needed to purchase computer |
30-Jan-03 |
EMS |
$2,945.00 |
Shortage of funds in the Medical account |
03-Feb-03 |
Police |
$ 95.00 |
To cover travel expenses for Animal Control |
03-Feb-03 |
Police |
$ 910.00 |
Purchase of Leer cab for Animal Control vehicle |
03-Feb-03 |
Police |
$9,365.00 |
Overtime to enter reports - computer crash |
03-Mar-03 |
EMS |
$1,007.00 |
Shortage of funds - Uniform purchase account |
06-Mar-03 |
EMS |
$6,000.00 |
Shortage of funds - Vehicle maintenance account |
04-Mar-03 |
Zoo |
$1,000.00 |
Shortage of funds - building repair & maintenance |