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Comptroller reports April results: general fund revenues roughly $27M year-to-date, several funds budgeted to draw reserves
Summary
Comptroller Susan Carlos told the commission general fund revenues were reported at about $27 million year-to-date (84.6% of budget) with year-to-date expenditures lower than the percent of year elapsed; some special revenue funds were intentionally budgeted to draw down reserves for projects.
Comptroller Susan Carlos presented April financial results to the Fernandina Beach City Commission on May 20 and walked commissioners through general fund, special revenue, capital improvement and enterprise fund figures.
Carlos reported general fund revenues of about $27 million year-to-date and said revenues equaled roughly 84.6% of the year's budget at the April checkpoint. She told the commission year-to-date general fund expenditures were lower than the percent of year elapsed (approximately 48.7% of budget for expenditures in the presentation) and said the excess of revenues over expenditures year-to-date was reported as $8,901,002.32.
She identified several special revenue funds operating at deficits by design to reduce reserve balances (the building fund and utility tax fund were cited) and noted the community redevelopment area fund was drawing down cash for the Alachua Street project. Carlos also reviewed capital funds (including impact-fee funded capital expansion balances for police, fire, parks and general government) and enterprise funds, noting operating-income and cash-flow variances across golf, airport, sanitation, wastewater, water, stormwater and marina operations.
Commissioners asked follow-up questions about the marina shortfall and capital projects; Carlos said the marina variance reflected capital outlays including a bathhouse remodel and dredging. Commissioners also asked staff to provide an FTE (full-time equivalent) head count and to update on a previously discussed second well/pump for the golf course; staff said the second pump has been pulled, inspected and is planned for repair and that funding mechanics for the capital expense will be determined at a meeting.
The presentation contained multiple fund-level figures as shown in the city's slide set; some numeric values in the live transcript were garbled and the city provided detailed fund reports in the agenda packet for verification.
