FY 2001 Financial HighlightsThe information presented has been derived from the General- Purpose Financial State-
ments and information provided by the Village. It is not intended to be a financial report
under generally accepted accounting principles.
Ertys, Diaz & 1�).
t_�rr�flc;? Ft. {�lic :�.cccurrants
The Village of
North Palm Beach,
Florida
FINANCIAL
HIGHLIGHTS
For the Year Ended
September 30, 2001
PRINCIPAL OFFICIALS
(At September 30, 2001)
David B. Norris
Mayor
Edward M. Eissey, Ph.D.
Vice Mayor
Donald G. Noel
President ProTem
Charles R. O'Meilia
Council Member
Joseph A. Tringali
Council Member
Dennis W. Kelly
Village Manager
Shaukat Khan, CPA
Finance Director
Kathleen F. Kelly
Village Clerk
The information presented has been derived from the General- Purpose Financial State-
ments and information provided by the Village. It is not intended to be a financial report
under generally accepted accounting principles.
Ertys, Diaz & 1�).
t_�rr�flc;? Ft. {�lic :�.cccurrants
The Village of
North Palm Beach,
Florida
FINANCIAL
HIGHLIGHTS
For the Year Ended
September 30, 2001
The following graph presents general fund expenditures of the Village by
e• Unreserved fund balance at September 30, 2001, was $2,292,742
REVENUES and EXPENDITURES
function for the last five years:
and represents 18% of the Village's budgeted expenditures for
The following graph presents general fund revenues of the Village by
the subsequent fiscal year.
$4,000,000
source for the last five years.
--
Public Safety
—M•- Public
COUNTRY CLUB OPERATION
6,500,000
3,000,000
NOther
❑ Charges for Services
2,500,000
Services
—
�— Leisure
Services
The following chart presents the operations of the Country Club
Ll Licenses /Permits
® Franchise and Utility Service Taxes
Y
2,000,000
General
Government
for the last five years on a cash flow basis, that is, operating income
El Intergovernmental
1,500,000
-- a- Debt service
without depreciation but after payment of debt service.
0 A Valorem Taxes
1,000,000
$ 12,000,000
-•♦- O th e r
500,000
® Debt Service (net of interest income)
1997 1998 1999 2000 2001
10,000,000
® Operating Expenses (excluding depreciation)
0 Personal Services
8,000,000 -
o Operating Cash Flows
:• Total expenditures for the year ended September 30, 2001, were $10,399,000.
$ 3,000,000
This represents an increase of $263,000, or 2.6 %, when compared with the
6,000,000
U • ifir ,
prior year.
2,500,000
+,P
4,000,000
:•:;
s.x
❖ The increase is mainly attributable to an increase in public safety expendi-
2,000,000
x
tures ($510,000) and a decrease in capital outlay expenditures ($217,000).
o
❖ Legally committed expenditures (debt service) are 7.5% of total operating
1,500,000';.
1997 1998 1999 2000 2001
expenditures.
1,000,000
;. ,��
�:•
FUND BALANCE
500,000
•:• Total revenues for the year ended September 30, 2001, were
$11,000,000. This represents an increase of $1,193,000, or 12 %,
The following graph presents unreserved fund balance for the last five
o
` ' '
••' '•'
when compared with the prior year.
1997 1998
1999 2000 2001
years:
e• The increased revenues occurred primarily in ad valorem taxes
/0 31 /o 2a /a
23 a 20% 22%
($659,000), building permits ($145,000), intergovernmental ($64,000),
:• There was an operating cash flow deficit for the year ended Sep -
$2,500,000
and utility service taxes ($112,000).
tember 30, 2001, of approximately $50,500.
2,000,000
e• The assessed value of real and personal property was approxi-
1,500,000-
:• Operating cash flows increased approximately $109,000. Operat-
mately $901 million, an increase of $170 million, or 23.3% since
ing expenses and debt service payments decreased approximately
1997.
1,000,000
$209,000.
500,000
❖ The millage rate (5.75) assessed for the year 00/01 fiscal year repre-
:• The reinvestment in capital facilities for 2001 was approximately
sented an increase of 2.9 %, when compared with 2000. The aver-
$49,000 and consisted mainly of machinery and equipment pur-
age annual rate of increase since 1997 was 2.4 %.
997
1998 1999
chases.
2000
2001