FY 2015 Financial HighlightsPRINCIPAL OFFICIALS
(AT SEPTEMBER 30, 2015)
ROBERT A. GEBBIA
MAYOR
DAVID B. NORRIS
VICE MAYOR
DOUG BUSH
PRESIDENT PRO TEM
DARRYL C. AUBREY
COUNCIL MEMBER
MARK MULLINIX
COUNCIL MEMBER
.TAMES P. KELLY
VILLAGE MANAGER
SAMIA JANJUA
DIRECTOR OF FINANCE
MELISSA TEAL
VILLAGE CLERK
The information presented has been derived from the Basic Financial
Statements and information provided by the Village. It is not intended to
be a financial report under
generally accepted accounting principles.
THE VILLAGE OF
NORTH PALM BEACH,
FLORIDA
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FINANCIAL
HIGHLIGHTS
FOR THE YEAR ENDED
SEPTEMBER 30, 2015
About the Village of North Palm Beach
The Village of North Palm Beach is
primarily a residential community, having
been incorporated as a political subdivision
of the State of Florida in 1956. The
registered population of the Village is
approximately 13,000, which increases to
approximately 18,000 during the winter
months. Residents are generally in the
middle to upper income brackets.
Located in the northeastern quadrant
of Palm Beach County, Florida, the Village
has an abundant amount of waterfront
property created by a number of lakes,
canals, and the Atlantic Ocean.
The governing body of the Village con-
sists of a five member Village Council, each
of whom is elected to two-year overlapping
terms. The Mayor is selected by majority
vote of the Council and serves for a term of
one year. Day to day affairs of the Village
are under the leadership of a Village
Manager who is appointed by the Council.
Governmental Revenues
The following graph presents revenues of the Village's
governmental funds for the past five years.
2014 2015 (Decrease)
Ad Valorem Taxes
$ 10,154,695
$ 11,364,888
$ 1,210,193
Other Local Taxes
1,526,764
1,614,758
87,994
Franchise & Utility Taxes
3,510,035
3,520,257
10,222
Intergovernmental
427,991
426,037
(1,954)
Charges for Services
2,320,305
2,231,673
(88,632)
Licenses & Permits
1344,653
947,158
(397,495)
Interest
16,653
108,794
92,141
Other
375,955
250,342
(125,613)
Total
$ 19,677,051
$ 20,463,907
$ 786,856
Total revenues increased 4.0% over 2014.
The largest increase was in ad valorem taxes.
Governmental Expenditures
The following graph presents total expenditures of the
Village's governmental funds for the past five years.
•Public Satiety •PublicWk,
L . reS es- Recrd— ,General Gov
•Conm.ity De &Planning • other Government
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$ v
2011 2012 2013 2014 2015
Components of expenditures changed as follows:
Total expenditures increased 7.1 % from 2014, with
most of the increases being due to higher
personnel- related costs.
General Fund Unassigned
Fund Balance
The following graph presents the general fund
unassigned fund balance (available, spendable resources)
for the past five years.
2014
2015
(Decrease)
Public Safety
$ 8,947,627
$ 8,966,077
$ 18,450
Public Works
3,773,689
4,255,636
481,947
Leisure Services- Recreation
2,644,598
2,514,495
(130,103)
General Government
2,541,546
2,904,553
363,007
Community Dev. & Planning
1,004,642
1,270,399
265,757
Capital0utlay
1,117,234
1,530,430
413,196
Total
$20,029336
$ 21,441,590
$ 1,412,254
Total expenditures increased 7.1 % from 2014, with
most of the increases being due to higher
personnel- related costs.
General Fund Unassigned
Fund Balance
The following graph presents the general fund
unassigned fund balance (available, spendable resources)
for the past five years.
General fund unassigned fund balance at September
30,20 15 was $10,802,623. This represents
approximately 55% of expenditures for fiscal year 2015.
Country Club Operations
The following chart presents the operating
revenues and expenses for the Country Club for
the past five years.
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as follows:
Increase
2014 2015 (Decrease)
Operating Revenue $ 3,645,706 $ 3,788,852 $ 143,146
Operating Expenses 3,750,844 3,707,481 (43,363)
Operating income (loss) (105,138) 81,371 186,509
Nonopemting revenues (capenses) (140,357) (124,786) 15,571
Income (loss) $ (245,495) $ (43,415) $ 202,080
The Operating loss decreased by $186,509
from 2014. This was largely the result of an
increase in revenues from the Golf and
Restaurant operations.
MEN
General fund unassigned fund balance at September
30,20 15 was $10,802,623. This represents
approximately 55% of expenditures for fiscal year 2015.
Country Club Operations
The following chart presents the operating
revenues and expenses for the Country Club for
the past five years.
— ... }.v..a..... v..a.va...uw a..0 —1 ...aw ......ga.0
as follows:
Increase
2014 2015 (Decrease)
Operating Revenue $ 3,645,706 $ 3,788,852 $ 143,146
Operating Expenses 3,750,844 3,707,481 (43,363)
Operating income (loss) (105,138) 81,371 186,509
Nonopemting revenues (capenses) (140,357) (124,786) 15,571
Income (loss) $ (245,495) $ (43,415) $ 202,080
The Operating loss decreased by $186,509
from 2014. This was largely the result of an
increase in revenues from the Golf and
Restaurant operations.