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Home My WebLink AboutF-3: Budget Status Report~~~IG`~ ~~~ , ~ ~, ~. .3 ~~ ~. . ~' ~ Y a d°' ~~ `~ ~, ;,, ~ , ~+_ . { ,~. ~ U ~ ~Xd m k'~ a ~,~ ~ ~' ~ ~" e ,,f t ¢ ~~ ' y3 y,~' ~j ~.r,lj~ . ~ ~ I~,~ ~' ~ra r,~.a. .,~Y a ° , ~. ~ .. , ~ ~ ~:v~~ „" ~,~ ~ . , n ~ . ~ ~~ _ ~~' . ~y / :,;,.'".~V ~ , _ _.- / To: The Honorable Mayor and City Council Via: Danny O. Crew, ~ity`M~ ger Fr: William Alonso, Finance Director Date: November 26, 2007 Re: October 2007 Budget Status Report The following report is the first monthly budget report for fiscal year 2007-08. The purpose of this report is to apprise the City's policy makers of the current budgetary status as of the end of October 2007. This report is organized as follows: I. General Fund Revenues II. General Fund Expenditures III. Transportation Fund IV. Development Services Fund V. General Services Fund VI. Stormwater Fund VII. CDBG Fund VIII. Capital Projects Fund IX. Special Revenue Fund X. SHIP Fund XI. Monthly and YTD Expenditure Report-All Funds XII. Monthly and YTD Revenue Report-All Funds BUDGET AMENDMENTS During October, 2007 there were 5 budget amendments made to the original adopted budget. The following is a detail of those amendments: -$6,988,717 in encumbrances from FY2007 were rolled forward to the FY2007-08 budget; $3,220,903 to the General Fund, $249,109 to the Transportation Fund, $3,020 to the Stormwater Fund, $567,882 to the CDBG Fund, $88,662 to the Developmental Services Fund, and $2,858,946 to the Capital Projects Fund. -$123,427 to the CDBG Fund to budget for the fa~ade renovation grant. - Recorded an additional $105,000 in revenues and expenditures in the Capital Projects Fund since the QNIP payment received was higher than expected by this amount. F-3) October 2007 Budget Status Report 1 1~TT 1515-200 NW 167`" Street, Building 5, Miami Gardens, Florida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www. miamigardens-fl.gov BUDGET AMENDMENTS (Continued) - Recorded an additional $130,000 in HUD revenues and expenditures related to the "Dollar House" project. - Increased by $25,000 the funding for the Myrtle Grove lighting project, funds were not used in FY2007 and not budgeted in FY2008 in error. You will also notice some variances in the "Amended BudgeY' columns for beginning fund balances. This is due to the fact that during the budget process, estimates are made of the ending fund balance for the year and that balance is appropriated in the FY2007-08 budget. Since we now know the exact amount of ending fund balance at September 30, 2007, this corrected amount has been included in the amended budget column. CASH AND /NVESTMENTS As of October 31, 2007, the City had approximately $ 28 million invested in the State Board of Administration account. This generated almost $130,000 in interest for the month since the SBA paid at the rate of 5.61 % for the month of October 2007. The City also held almost $2 million in its operating account with Wachovia Bank. It is important to note that a significant part of these funds are restricted for certain uses and projects. The City's cash balance includes funds restricted for, among other things, capital projects, street and road maintenance, development services, housing assistance, stormwater, and impact fees for police and recreation. During the end of November, 2007, the SBA fund experienced a liquidity problem due to "bad" investments. On December 3, 2007, the SBA put a freeze on all transactions pending meetings with State officials. I am happy to announce that the City of Miami Gardens was able to withdraw $27 million of the $28.5 million deposited with the SBA before the freeze took effect. We are working on finding other investments that will produce higher yields. On December 5, 2007 the SBA announced that withdrawals would be allowed effective December 6, 2007 up to a maximum of 86% of the balance in the account. The City was able to withdraw $1.3 million at that time, leaving $200,000 in the account until further withdrawals are allowed.. 1515-200 NW 167`" Street, Building 5, Miami Gardens, F ol rida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www, miamigardens-fl.gov NOTES TO THE BUDGET REPORT General Fund Since revenues and expenditures do not occur evenly during the year, only revenues and expenditures which show an actual to budget percentage of 18% or higher will be explained herein. Revenues Page 8 is a detailed listing of all general fund revenues. It shows actual revenues received for FY2005-06 and FY2006-07, original and amended budgeted revenues for FY2007-08 and actual revenues received for the month of October 2007. The last column shows the percentage of revenues received in October compared to the annual budget. Note #1 It is important to note that as of October 2007 the city had received 4% of the total annual budgeted revenues, October 2007 means that 8.33% of the year has been completed. It would be simple if revenues were received evenly during the year, however that is never the case since ad valorem revenues are usually received between December and April of the fiscal year. Certain transfers from other funds have also been recorded in October since those are due at the beginning of the fiscal year. Note #2 Occupational license revenue is generally mostly received in October since that is the normal renewal date for most occupational licenses. Certificates of use are also billed out in batches and as such the revenues fluctuate from month to month. Note #3 Bid spec fees, and parking fines are not within our control since these are based on user activity and may fluctuate from month to month. As the year moves on, we will be able to get a more accurate picture of revenue receipts compared to budget. Exvenditures Page 9 is a detailed listing of all general fund departments. It shows actual expenditures for FY2005-06 and FY2006-07, original and amended budgeted expenditures for FY2007-08 and actual expenditures incurred for the month of October 2007. The last column shows the percentage of expenditures incurred in October compared to the annual budget. 1515-200 NW 167`" Street, Building 5, Miami Gardens, Florida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www.miamigardens-fl.gov NOTES TO THE BUDGET REPORT General Fund Expenditures (continued) Note #1 It is important to note that as of October 2007 the city had incurred 9.1% of the total annual budgeted expenditures, October 2007 means that 8.33% of the year has been completed. Non-departmental is at 26.4% of its annual budget since the budgeted transfer of $1.5 million to the capital projects fund was recorded in October. Note #2 City Hall expenditures are at 25.7% since annual insurance policies were paid in October for the entire year. Transaortation Fund Page 10 is a detailed budget report for the Transportation Fund. This fund is used to account for all revenues and expenditures related to streets and road maintenance, Keep Miami gardens Beautiful, and other public works activities. Revenues as of October 2007 were 0.3% of budget and expenditures were at 5.8% of budget. This fund receives the bulk of its revenues from the local option gas tax and State revenue sharing, these State funds are received one month in arrears so we will not see the October revenues until at least November of 2007 and so on. Note#1 After adjusting the beginning fund balance to the actual ending fund balance as of year end and rolling forward encumbrances, the amended budget was reporting a negative ending fund balance. In order to correct this there were two adjustments done to the budget as follows: 1) The $317,000 QNIP debt payment to the General Fund was eliminated until later in the year, and 2) Streets expenditures were reduced by $28,000. Development Services Fund Page 11 is the detailed budget report for the Developmental Services Fund. This fund is used to account for all revenues and expenditures related to building and planning services for our city. This function should be self sufficient, meaning that the fees charged should cover the operating costs of the department. Revenues as of October 2007 were 3% of budget while expenditures were at 6% of the annual budget. This fund receives most of its funding from user fees on permits and planning and zoning fees, so actual revenue receipts during the year depend on user activity. Note 1 The administrative budget has been decreased by $250,000 for expected vacancies that will not be filled. This still leaves a budgeted deficit of $270,000 for FY2008. 1515-200 NW 167t" Street, Building 5, Miami Gardens, F rida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www. mia migardens-fl.gov NOTES TO THE BUDGET REPORT Genera/ Services Fund Page 12 is the General Services Fund, this fund is used to account for various services that are provided to all city departments and other funds. The total costs are then allocated to the other funds and departments based on a detail allocation formula, the departments and funds then transfer their portion of the allocated costs to this fund. The revenues of this fund come from transfers from other departments and fund as well as debt proceeds related to vehicle and equipment purchases. It is important to note that this is a temporary fund and is consolidated with the General Fund at year end. The main purpose is to be able to keep track of the costs for allocation purposes. The four main areas of costs in this fund are as follows: a) Purchasing-to allocate cost of the purchasing department to users, costs are allocated based on purchase orders issued. b) City Hall-To allocate costs of the facility-rent, insurance, maintenance. Costs are allocated based on square footage. c) Information Technology-to allocate costs of computer related activities as well as telephone and cell phone expenditures. Costs are allocated based on users and equipment allocations. d) Fleet-to allocate costs of vehicle purchases and ongoing repairs and maintenance. Costs are allocated based on vehicles assigned to each fund or department. Stormwater Fund Page 13 presents the detail budget for the stormwater system which was transferred to the city by Miami Dade County in March 2007. Revenues for this fund come from user assessed fees based $4 per Equivalent Residential Unit (ERU) for each property. The revenues are collected and forwarded to the city by Miami Dade Water and Sewer, North Miami Beach Water & Sewer, and about 1,050 are billed directly by the City of Miami Gardens on a quarterly basis. It is because of this timing reason that the month of October 2007 shows no revenues. Note#1 After adjusting the beginning fund balance to the actual ending fund balance as of year end and rolling forward encumbrances, the amended budget was reporting a negative ending fund balance. In order to correct this original budget was adjusted by reducing operating expenditures by $126,000 in order to eliminate the fund balance deficit. 1515-200 NW 167`" Street, Building 5, Miami Gardens, F ol rida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www.miamigardens-fl.gov NOTES TO THE BUDGET REPORT CDBG Fund Page 14 is the detailed budget for the CDBG fund. This fund is used to account for the funding received from HUD and other grants in order to provide housing assistance to low income residents and the needy. In addition, this fund accounts for the costs related to the fa~ade renovation projects in our commercial districts. Revenues from HUD are paid on a reimbursement basis to the city, we periodically submit reimbursement requests to HUD and receive funding within 72 hours of submission. Note#1 After adjusting the beginning fund balance to the actual ending fund balance as of year end and rolling forward encumbrances, the amended budget was reporting a negative ending fund balance. In order to correct this original budget was adjusted by reducing capital outlay expenditures by $872,000 in order to eliminate the fund balance deficit. Caaital Proiects Fund Page 15 is the actual to budget comparison for the Capital Projects Fund. This fund is used to account for the revenues and expenditures related to ongoing city-wide projects. The FY2007-08 budget contains a detailed listing of all projects budgeted in the current fiscal year. Revenues for this fund come mostly from grants, debt proceeds, and transfers from other funds. The General fund transferred $1.5 million into this fund for the current year. Since most of the grants budgeted are "reimbursemenY' grants, we will not be seeing revenues until actual expenditures are incurred. Special Revenue Fund Page 16 of this report contains the budget report for the Special Revenue fund. This fund is used to account for the impact fees charged for Police and Parks, and for revenues related to the annual jazz festival, other donations, and the junior council. In addition the fund also receives LETTF funds from fines, these funds are restricted to law enforcement training purposes only. As of October 31, 2007, the fund had an ending fund balance of $1,588,743. The following is a breakdown of the fund balance by source so that we can define how much money is available for each activity: Police impact fees ......................$184,736 Parks Improvements ...................$588,659 Parks-Open Spaces ....................$605,701 LETTF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $36, 841 Other ... ... ... ... ... ... ... ... ... ... ... ... ... $172.806 Total 1.588.743 1515-200 NW 167`" Street, Building 5, Miami Gardens, F6lorida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www, miamigardens-fl.gov NOTES TO THE BUDGET REPORT SHIP Fund On page 17 of this report is the budget report for the State Housing Initiative Program (SHIP). This fund accounts for the revenues and expenditures related to housing assistance to eligible residents. Revenues are received in advance on a quarterly basis from the State, as you can see in October 2007 we received our allotment of $91,893 for the first quarter of our fiscal year. Note#1 After adjusting the beginning fund balance to the actual ending fund balance as of year end and rolling forward encumbrances, the amended budget was reporting a negative ending fund balance. In order to correct this original budget was adjusted by reducing operating expenditures by $239,582 in order to eliminate the fund balance deficit. Monthlv and YTD Expenditures Report-All Funds Page 18 is a summary expenditure report for all funds. This report differs from the individual fund reports previously presented in that the individual reports show actual expenditures "paid" during October 2007, while this summary report shows the actually spent as well as outstanding encumbrances(purchase orders issued but not paid). The "YTD committed" column shows for each department and fund the total amount paid and encumbered as of October 2007. Monthlv and YTD Revenue Report-All Funds Pages 19 and 20 provide a detailed revenue report for all funds. This report differs from the individual fund reports previously presented in that this report provides a comparison of revenues received in October 2007 versus October 2006 as well as year to date amounts. As the year progresses, these reports will have more meaning since all city revenues are affected by timing differences in when they are collected. 1515-200 NW 167`" Street, Building 5, Miami Gardens, F ol rida 33169 Tel: (305) 622-8000 • Fax: (305) 622-8001 • www.miamigardens-fl.gov I) GENERAL FUND REVENUES Deoartment Ad Valorem Taxes - Currenl Franchise Fees-Electric Franchise Fees-Gas Franchise Fees-SolidWaste Franchise Fees-Water Franchise Fees-Other Utility Tax-Electric Utility Tax-Water Utility Fees-Gas Utility Fees-Other Communications Tax Occupational Licenses - City Occupational Licenses - County Certificates of Use Other Licenses Landlord Pertnits Lien Search Recording fees Bid Spec Fees State Revenue Sharing Alcoholic Beverage License 1 /2-cent Sales Tax Parks Program fees MLK Celebration Alarm pertnits Local Code Violations False Alarm Fines Traffic fines Parking fines School crossing guards 1 School crossing guards 2 Interest Rent - Bus Benches County Code Enforcement Grant Byme Grant Childrens Trust Grant Hurricane Relief Transportation Other Miscellaneous Grants and Donations Insurance Reimbursements Lobbyist registration fees Counly Misc Fees Transferfrom TranspoAation QNIP Transfer from Impact Fee Fund Overhead Charge-TransportaGon Overhead Charge-Development Overhead Charge-Stortnwater Overhead Charge-CDBG Overhead Charge-GSF Overhead Charge-Capital Projects Debt Proceeds Appropriated fund balance SUB TOTAL GENERAL FUND General Services Fund: Transfersinfrom otherfunds Debl proceeds Interest earnings Misc Revenues SUB TOTAL GENERAL SERVICES FUND Schedule of Generel Fund Budgeted and Actual Revenues Fiscal Year Ending September 30, 2008 (8.33% OF YEAR COMPLETED) FY2005-06 FY2006-07 ORIGINAL ACTUAL ACTUAL BUDGET $ 71,635,651 $ 19,180,662 $23,683,854 3,015,219 3,477,481 2,475,000 297,989 234,788 290,000 667,007 863,951 850,000 49,749 47,811 - 39,743 - - 2,562,561 4,280,978 3,850,000 559,457 796,199 775,000 631,705 198,653 200,000 17 11,221 - 3,313,754 2,728,564 3,700,000 701,176 811,926 1,214,965 111,814 73,115 210,000 114,627 262,838 220,000 17,645 7,894 - 154,832 151,020 175,000 87,374 79,954 90,000 - 436 - 245 8,136 2,000 3,826,368 2,846,204 3,410,615 17,776 13,648 15,000 7,054,689 7,002,963 7,394,785 450,687 485,488 600,000 20,431 12,484 10,000 27,099 42,200 35,000 37 , 248 136, 765 115, 000 _ - 1,000 84, 331 113, 923 150, 000 27,673 36,951 45,000 313,132 255,491 320,000 5,688 4,970 15,000 733,714 1,011,767 900,000 75,326 92,430 105,000 115,534 4,691 - 28,725 6,746 15,352 - 116,363 91,109 1,873,479 68,062 - - 965 - 137,528 195,675 20,000 551,305 9,600 261,000 88,590 1,977 2,500 5,807 5,250 5,000 - 65,000 118,274 317,000 317,000 - 135,936 - 116,247 159,463 172,060 55,644 189,309 164,284 - 190,120 196,254 - - 19,971 50,300 313,070 435,126 - 194,550 374,637 - 1,725,000 2,653,371 10,181,219 11,692,700 3,357,735 S 49,957,382 $ 60,600,388 $ 59,002,618 880,536 3,692,140 8,644,770 - 5,675,000 1,500,900 - 166,204 - 14,058 1,872 - 894,594 9,535,216 10,145,670 FISCAL YEAR 2007-2008 AMENDED AS OF °h OF ACTUAL BUDGET Oct-07 VS.BUDGET N TE $23,683,854 $ - 0.0% (1) 2,475,000 - 0.0% 290,000 599 02% 850,000 116,305 13.7% - - 0.0% - - 0.0°~ 3,850,000 - 0.0% 775,000 - 0.0% 200,000 13,105 6.6°~ - - 0.0% 3,700,000 - 0.0°k 1,214,965 682,051 56.1% (2) 210,000 48,649 23.2% (2) 220,000 51,224 23.3% (2) - - 0.0% 175,000 275 0.2% 90,000 3,700 4.1°h - 243 0.0% 2,000 3,800 190.0°~ (3) 3,410,615 - 0.0% 15,000 - 0.0% 7,394,785 - 0.0°h 600,000 28,778 4.8°~ ~o,ooo - o.o~ 35,000 2,023 5.8°k 115,000 8,770 7.6% 1,000 - 0.0% 150,000 - 0.0% 45,000 9,972 22.2% (3) 320,000 - 0.0% 15,000 - 0.0% 900,000 30,416 3.4% 105,000 7,908 7.5% - - 0.0% 15,352 - 0.0% 91,109 - 0.0% - - 0.0% - - 0.0 k 20,000 3,101 15.5% 261,000 - 0.0% 2,500 - 0.0% 5,000 750 15.0°~ 65,000 - 0.0 % 317,000 - 0.0% - 417 0.0% 172,060 14,338 8.3% 164,2&4 27,381 16.7% 196,254 16,355 8.3% 19,971 - 0.0 % 435,126 36,261 8.3% 374,637 31,220 8.3% 2,653,371 - 0.0% 11,692,700 0.0% $ 67,337,583 $ 1,137,641 1.7°h 8,644,770 1,944,361 22.5°k (1) 1,500,900 - 0.0°h - - 0.0% 0.0% 10,145,670 1,944,361 19.2% TOTAL GENERAL FUND $50,851,976 $ 70,135,604 $ 69,148,288 $ 77,483,253 $ 3,082,002 4.0% (1) 8 (Unaudited) II) EXPENDITURES Schedule of General Fund Budgeted and Actual Expenditures Fiscal Year Ending September 30, 2008 (8.33% OF YEAR COMPLETED) FISCAL YEAR 2007-2008 Deuartment FY2005-06 FY2006-07 ORIGINAL AMENDED AS OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 General Government: Mayor & City Council 653,538 710,565 997,976 997,976 77,793 Office of the City Manager 1,480,054 905,555 1,140,815 1,140,815 80,693 Office of the City Manager-Outreach - 1,316,670 1,770,095 1,775,395 52,493 Office of the City Clerk 222,805 260,565 404,324 412,507 32,951 O~ceoftheCityAttorney 174,404 293,644 201,000 201,000 31,781 Human Resource Department 317,038 652,195 852,765 892,765 77,081 Finance /Budget 305,110 421,540 777,878 799,540 39,520 Public Works 110,756 - - - - Non-Departmental 898,984 9,056,953 8,199,724 8,199,724 2,161,783 Total General Government 4,162,690 13,617,687 14,344,577 14,419,722 2,554,095 Public Safety: Police Department 26,762,728 30,385,152 33,457,413 35,896,713 3,211,611 School Crossing Guards 618,089 716,591 1,235,840 1,235,840 64,712 Code Enforcement 937,796 1,300,383 1,967,397 1,967,397 103,959 Total Public Safety 28,318,613 32,402,126 36,660,650 39,099,950 3,380,282 Parks and Recreation: Administration 3,024,930 4,277,984 5,348,797 5,998,103 168,572 Park Maintenance 1,097,433 1,828,040 2,648,593 2,670,680 105,106 Total Parks and Recreation 4,122,363 6,106,024 7,997,390 8,668,783 273,678 SUB TOTAL GENERAL FUND 36,603,666 52,125,837 59,002,617 62,188,455 6,208,055 General Services Fund: Purchasing 221,035 179,082 435,462 435,462 15,438 City Hall 952,118 1,158,196 3,576,607 3,580,631 920,961 IT 527,170 620,147 1,497,102 1,498,972 27,234 Fleet 855,287 5,590,021 4,636,499 4,665,637 36,810 SUB TOTAL GENERAL SERVICES 2,555,610 7,547,446 10,145,670 10,180,702 1,000,443 Ending fund balance 11,692,700 10,462,321 1,380,582 6,494,677 - TOTAL GENERAL FUND USES 50,851,976 70,735,604 70,528,869 78,863,834 7,208,498 % OF ACTUAL VS. BUDGET Notes 7.8% 7.1 % 3.0% 8.0% 15.8% 8.6% 4.9% 0.0% 26.4% 17.7% 8.9% 5.2% 5.3% 8.6% 2.8% 3.9% 3.z% 10.0% (1) 3.5% 25.7% (2) 1.8% 0.8% 9.8% 0.0% 9.1 % 9 (Unaudited) III) TRANSPORTATION FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-TRANSPORTATION (8.33% OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Notes Beginning Fund Balance $ 995,259 $ 632,935 $ 537,863 $ 632,935 Revenues: Local Option Gas Tax $ 2,297,107 $ 2,385,024 $ 2,385,024 $ - 0.0% State Revenue Sharing 1,063,708 1,450,000 1,450,000 - 0.0% Charges for services 80,066 100,000 100,000 1,492 1.5% Grant revenue 1,042,641 73,257 73,257 - 0.0% Interest earnings 5,453 - - 2,036 0.0% Misc revenues 78,148 2,009 2,000 - 0.0% Proceeds from debt 7,440,264 - - - Transfers in - 99,609 99,609 8,301 8.3% Total revenues 12,007,387 4,109,899 4,109,890 11,829 0.3% Expenditures Administrative 1,053,576 1,542,512 $1,474,621 158,242 10.7% (1) KMGB 416,008 512,914 512,914 16,558 3.2% Streets 10,995,047 2,687,408 2,659,408 94,080 3.5% (1) Total expenditures 12,464,631 4,742,834 4,646,943 268,880 5.8% Ending fund balance 538,015 - 810 375,884 10 (Unaudited) IV) DEVELOPMENTAL SERVICES FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-DEVELOPMENTAL FUND (8.33% OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Notes Beginning Fund Balance $ 2,095,620 $ 1,180,828 $ 749,490 $ 749,490 Revenues: Planning and Zoning Fees 272,901 300,000 300,000 14,829 5% Building permits 2,100,939 2,700,000 2,700,000 63,681 2% Surcharge 148,696 150,000 150,000 8,212 5% BCCO 37,184 50,000 50,000 811 2% Grants 94,965 - - - 0% Intrerest earnings 21,128 - - 5,967 0% Misc Revenues 12,410 2,000 2,000 4,318 100% Total revenues 2,688,223 3,202,000 3,202,000 97,818 3% Expenditures Administrative 1,857,360 2,810,365 2,560,365 148,446 6% (7) Operating expenses 1,892,695 1,567,463 1,607,334 92,603 6% CapitalOutlay 284,298 5,000 53,791 - 0% Total expenditures 4,034,353 4,382,828 4,221,490 241,049 6% Ending fund balance $ 749,490 $ - $ (270,000) $ 606,259 11 (Unaudited) V) GENERAL SERVICES FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-GENERAL SERVICES FUND (8.33% OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Beginning Fund Balance $ - S - S - S - Revenues: Transfers in from other funds 3,692,140 8,644,770 8,679,802 1,944,361 22% Debt proceeds 5,675,000 1,500,900 1,500,900 - 0% Interest earnings 166,204 - - - Misc Revenues 1,872 - - - 100% Total revenues 9,535,216 10,145,670 10,180,702 1,944,361 19% Expenditures: Purchasing: Administrative 155,746 398,911 398,911 12,047 3% Operating expenses 23,336 36,551 36,551 3,391 9% Subtotal Purchasing 179,082 435,462 435,462 15,438 4% City Hall Operating expenses 806,366 2,666,293 2,670,317 920,961 34% CapitalOutlay - 558,484 558,484 - 0% Debtservice 351,830 351,830 351,830 - 0% Subtotal City Hall 1,158,196 3,576,607 3,580,631 920,961 26% IT Administrative 238,693 728,966 730,836 18,085 2% Operating expenses 349,041 738,136 738,136 9,149 1% CapitalOutlay 32,413 30,000 30,000 - 0% SubtotallT 620,147 1,497,102 1,498,972 27,234 2% Fleet Administrative 52,824 138,081 138,081 4,290 3% Operating expenses 591,978 1,882,366 1,882,366 32,520 2% CapitalOutlay 4,619,078 1,960,240 1,989,378 - 0% Debtservice 326,141 655,812 655,812 - 0% Subtotal Fleet 5,590,021 4,636,499 4,665,637 36,810 1% Total expenditures all divisions 7,547,446 10,145,670 10,180,702 1,000,443 10% Ending fund balance(added to General Fund) $ 1,987,770 $ - $ - $ 943,918 THIS FUND IS CLOSED AND INCORPORATED INTO THE GENERAL FUND AT YEAR END. 12 (Unaudited) VI) STORMWATER FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-STORMWATER (8.33% OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Notes Beginning Fund Balance $ - $ 589,380 $ 466,915 $ 466,915 Revenues: Stormwater Fees 1,400,804 3,395,000 3,395,000 - 0% Bond proceeds 8,954,785 - - - Misc Revenues 4,701 - - 25 100% Total revenues 10,360,290 3,395,000 3,395,000 25 0% Expenditures Administrative 10,367 543,894 543,894 5,598 1% Operating expenses 539,660 2,230,487 2,107,507 379,680 18% (1) CapitalOutlay 8,954,785 536,999 536,999 - 0% Debt service 388,563 673,000 673,000 - 0% Total expenditures 9,893,375 3,984,380 3,861,400 385,278 10% Ending fund balance $ 466,975 $ - $ 515 $ 81,662 13 (Unaudited) VII) CDBG FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-CDBG (8.33°/a OF YEAR COMPLETED) FY2006-07 ACTUAL Beginning Fund Balance Revenues: Program Revenue OCED Grant Fa~ade renovation grant Facade Business Contribution Misc revenues EDI Total revenues Expenditures: Administrative Operating expenses Capital Outlay Total expenditures Ending fund balance $ - $ FISCAL YEAR 2007-2008 ORIGINAL AMENDED AS OF BUDGET BUDGET Oct-07 270,656 $ (32,681) $ (32,681) 657,065 1,420,330 1,420, 330 - 10,291 300,000 300,000 - 3,949 - 123,427 - - - - 1,000 3,168 - - - - 247,500 247,500 - 674,473 1,967,830 2,091,257 1,000 195,999 200,100 200,100 13,448 500,864 425,001 425,001 9,350 10,291 1,613,385 1,432,694 28,841 707,154 2,238,486 2,057,795 51,639 $ (32,681) $ - $ 781 $ (83,320) 14 (Unaudited) % OFACTUAL VS. BUDGET Notes 0% 0% 0% 0% 0% 7% 2o~a 2% (1) 3% VIII) CAPITAL PROJECTS FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-CAPITAL PROJECTS FUND (8.33°/a OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Beginning Fund Balance $(1,428,726) $ - $ 12,689,921 $ 72,689,921 Revenues: Grant funds 3,160,677 38,044,840 38,044,840 1,725,636 5% Debt proceeds 14,400,000 9,879,668 9,879,668 - 0% Transfers in from other funds 8,752,000 4,010,756 4,010,756 4,010,756 100% Interest earnings 201,258 - - 73,757 Land sale - 2,160,000 2,160,000 - 100% Total revenues 26,513,935 54,095,264 54,095,264 5,810,149 11% Expenditures Administrative 80,244 100,648 100,648 6,176 6% Operating expenses 331,358 439,450 491,133 34,319 7% CapitalOutlay 10,715,789 48,050,776 51,143,039 26,232 0% Debt service 1,267,897 5,504,390 5,504,390 - 0% Total expenditures 12,395,288 54,095,264 57,239,210 66,727 0% Ending fund balance $ 12,689,921 $ - $ 9,545,975 $ 18,433,343 15 (Unaudited) IX) SPECIAL REVENUE FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-SPECIAL REVENUE FUND (8.33°/a OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Beginning Fund Balance $ 1,181,901 $ 1,404,545 $ 1,576,698 $ 1,576,698 Revenues Impact fee-Police 50,505 40,000 40,000 - 0°/a Impact fee-parks 315,423 300,000 300,000 - 0% CMG Junior Council 16,695 - - 250 LETTF 22,843 15,100 15,100 - Jazz festival 97,399 250,000 250,000 10,000 Event revenues 9,028 10,000 10,000 - 0% Interest earnings 25,856 - - 7,331 100% Total revenues 537,749 615,100 615,100 17,581 3% Expenditures Operating expenses 142,952 315,100 315,125 4,140 1% CapitalOutlay - 300,000 300,000 - 0% Total expenditures 142,952 615,100 615,125 4,140 1% Endingfund balance $ 1,576,698 $ 1,404,545 $ 1,576,673 $ - 16 (Unaudited) X) SHIP FUND CITY OF MIAMI GARDENS ACTUAL VS BUDGET REPORT-SHIP (8.33°/a OF YEAR COMPLETED) FISCAL YEAR 2007-2008 FY2006-07 ORIGINAL AMENDED AS OF % OF ACTUAL ACTUAL BUDGET BUDGET Oct-07 VS. BUDGET Notes Beginning Fund Balance $ - S 313,090 $ 73,758 $ 73,758 Revenues SHIPfunds $ 91,893 $ 600,000 $ 600,000 $ 91,893 15% Interest earnings 433 - - - 0% Total revenues 92,326 600,000 600,000 91,893 15% Expenditures Administrative 7,819 10,050 10,050 2,268 23% Operating expenses 10,749 903,040 663,708 60 0% (1) Total expenditures 18,568 913,090 673,758 2,328 0% Ending fund balance $ 73,758 $ - $ - $ - 17 (Unaudited) ~ ~ a W d' W d' ~ H 0 Z W a x w 0 F- ~ ~ Z Q J _ ~ Z O ~ ~ x A O ~ O t' N 0 d E~ N O A~~ ~ L O ~ ~ ~ c ~ ~ ~ LL d a a x W R ~ ~ 7 ~~ C m O ny Of ~+ ~ t m ~ Y ~ io U ~ ~ m a ~ ~ ~a ~ m (O ~ C7 N ~ 01 N m 1~ N f~ 00 47 O O N u7 N A ~ N ~ A N V ~ O N N ~ ? dD ~ 1~ 1~ O I~ 00 tn V O N ~ h ~ ~ ('7 1~ O N O ~ V f") O (V I~ (O ~ l"J CO I~ N 4~ ~ (O N EO O! 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