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Fernandina Beach controller reports stronger-than-expected revenues, flags capital and marina costs
Summary
City Controller presented a month-11 budget update showing general fund revenues just over $32 million (about $698,000 above budget), a $534,923 insurance premium tax receipt to offset pension costs, heavy ambulance-billing recovery, and several capital expenditures including a $1,000,000 marina dredging payment.
City Controller Ms. Carlos told the commission the city is 91.7% through the fiscal year and general fund revenues year to date total just over $32,000,000, exceeding budgeted revenues by about $698,000. She said the city received $534,923 in insurance premium tax in August, funds that will be recorded as revenue and used to offset the city’s contribution to applicable pension funds.
Ms. Carlos said charges for services were up, driven in part by changes to ambulance billing and new lockbox services that put ambulance revenue at about 177% of the budgeted amount and recovered a shortfall from the prior year. She described an interfund reclassification of grant revenue from the general fund to capital improvements that reduced intergovernmental revenue in the reporting period.
On expenditures, Ms. Carlos noted the general fund balance is about $2,400,000 higher than last year because year-to-date revenues exceed expenditures. She pointed to litigation and settlement costs and capital projects as drivers of higher administration spending in the current year.
Enterprise and capital funds showed mixed results. Ms. Carlos said several enterprise funds are in surplus year to date (golf, airport, sanitation, wastewater, water) while stormwater and the marina showed expenditures exceeding revenues. She explained the marina’s negative variance reflected a $1,000,000 dredging expense in August and a large annual debt payment of $505,000.
Ms. Carlos described several capital expenditures in August: sidewalks ($330,009.92), men’s locker room work at the ARC ($37,000), a Putt-Putt project ($45,000), lighthouse work ($97,000) and Central Park batting cages ($94,600). She also flagged $186,700 spent from impact fees on Waterfront Park within the capital expansion fund.
The controller said staff will bring a budget amendment to record the unexpected insurance-premium tax receipt and noted a few funds where expenditures were intentionally budgeted to exceed revenues (building fund, wastewater capacity fees, community redevelopment area) as part of planned capital work. The commission asked clarifying questions; no amendments to the budget were approved during the meeting.
