09-2019 General Fund_Preliminary as of 9-30-19FY 19 Original FY 19 Revised Current YTD % of
Budget Budget Sep-19 budget FYE 9-30-18 FYE 9-30-17
Taxes
Ad-Valorem Taxes 15,941,051$ 15,941,051$ 16,185,283$ 101.53% 15,003,141$ 13,091,985$
Utility Service Taxes 2,478,772 2,478,772 2,521,955 101.74% 2,511,876 2,413,679
Franchise Fees 1,227,209 1,227,209 1,352,464 110.21% 1,294,280 1,306,996
Sales & Use Taxes 311,598 311,598 307,130 98.57% 302,207 305,700
Licenses and permits 980,100 980,100 1,522,912 155.38% 1,222,594 997,656
Intergovernmental 1,500,382 1,500,382 1,582,512 105.47% 1,482,113 1,459,577
Charges for services 2,345,560 2,345,560 2,410,113 102.75% 2,210,437 2,321,294
Fines and forfeitures 72,800 72,800 89,247 122.59% 90,559 124,394
Investment ①95,530 95,530 573,095 599.91% 112,809 58,799
Miscellaneous ②24,800 24,800 510,688 2059.22% 412,519 157,071
Total Revenues 24,977,802 24,977,802 27,055,398 108.32% 24,642,535 22,237,151
Expenditures
General Government 3,347,808 3,359,970 3,265,558 97.19% 3,053,627 2,970,245
Public Safety 9,671,875 9,681,770 10,055,573 103.86% 9,431,609 8,886,615
Public Works 5,283,828 5,389,871 5,041,643 93.54% 5,065,186 4,406,403
Community Development 1,658,923 1,773,305 1,542,421 86.98% 1,435,769 1,197,052
Liesure Services 2,817,701 2,840,682 2,664,684 93.80% 2,613,659 2,591,846
Other Government 1,792,667 1,918,636 1,713,109 89.29% 1,928,679 1,425,652
Total Expenditures 24,572,802 24,964,234 24,282,989 97.27% 23,528,529 21,477,813
Excess of revenues over expenditures 405,000 13,568 2,772,409 1,114,005 759,337
Other financing sources (uses)
Debt Proceeds / Capital Lease Acquisition - 826,943 826,943 ③- 15,000,000
Appropriated fund balance - 391,432 - - -
Transfer In 53,082
Capital Lease (826,943) (826,943) ③
Transfer out (405,000) (405,000) (405,000) (4,963,307) (14,363,587)
Total other financing uses (405,000) (13,568) (405,000) (4,963,307) 689,495
Net change -$ -$ 2,367,409$ ④(3,849,302)$ 1,448,832$
(565,573) FYE 2019 Open PO Carryover
Net w/ FYE 2019 Open PO Carryover 1,801,836$
①
②Sale of Surplus $257k; Insurance Refunds $181k
③Vehicle lease acquisition reflected as an expenditure & other financing source for financial reporting purposes only; no net income effect.
④FYE 2019 Open Purchase Orders ($565,573) will reduce this amount; Net = $1.8 m
Revised Budget 26,196,177
Less: Original Budget (24,977,802)
Budget Amendments 1,218,375
Budget Amendments:
Open P.O. Carryover 391,432
Capital Lease 826,943
Total Budget Amendments 1,218,375
The Village of North Palm Beach
Preliminary General Fund Budget Summary
Millage Rate = $7.50 mils
Investment policy revised to include FEITF as a Short-Term investment; over 90% of Ad-Valorem Revenue received in first 6 months of fiscal
year; staff spread cash based on anticipated need throughout the fiscal year; $200k is unrealized gain/loss at year/end