__ __ __ __ Count Highlands nty Florida Clerk of Courts INTERIM - - PowerPoint PPT Presentation

▶
count highlands nty florida clerk of courts interim
SMART_READER_LITE
LIVE PREVIEW

__ __ __ __ Count Highlands nty Florida Clerk of Courts INTERIM - - PowerPoint PPT Presentation

Aug 29, 2022 362 likes •676 views

__ __ __ __ Count Highlands nty Florida Clerk of Courts INTERIM FINANCIAL REPORT OF KEY OPERATING PERFORMANCE MEASURES AS OF March 31, 2020 (UNAUDITED) Robert W. Germaine, Clerk ( UNAUDITED ) REVENUE GENERAL FUND BUDGET TO

slide-1
SLIDE 1

Robert W. Germaine, Clerk

Highlands __ __ __ __Count

nty Florida

ClerkofCourts

INTERIM FINANCIAL REPORT OF KEY OPERATING PERFORMANCE MEASURES AS OF

(UNAUDITED)

March 31, 2020

slide-2
SLIDE 2

Robert W. Germaine, Clerk

REVENUE – GENERAL FUND

BUDGET – TO – ACTUAL

(In Millions)

(UNAUDITED)

$66.98 $66.62 $50.54 $64.33 $64.86 $48.71 $5.07 $5.81 $3.89 $4.61 $0 $10 $20 $30 $40 $50 $60 $70 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward

76% 75%

slide-3
SLIDE 3

Robert W. Germaine, Clerk

EXPENDITURES – GENERAL FUND

BUDGET – TO – ACTUAL & ENCUMBRANCES

Actual Less Encumbrances / Current Year: Actual Less Encumbrances / Prior Year: (In Millions)

(UNAUDITED)

$72.05 $72.43 $39.73 $68.22 $69.47 $41.12 $0 $10 $20 $30 $40 $50 $60 $70 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 53% 58%

55% 59%

slide-4
SLIDE 4

Robert W. Germaine, Clerk

REVENUE – SPECIAL REVENUE FUNDS

BUDGET – TO – ACTUAL

(In Millions) Note: State Revenue Sharing Funds lag 30 to 60 days

(UNAUDITED)

$52.78 $58.24 $19.26 $44.65 $52.44 $15.73 $14.46 $21.35 $15.85 $29.02 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward

33% 30%

slide-5
SLIDE 5

Robert W. Germaine, Clerk

$67.24 $79.59 $26.56 $60.50 $81.46 $25.88 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

EXPENDITURES - SPECIAL REVENUE FUNDS

BUDGET – TO – ACTUAL & ENCUMBRANCES

(In Millions) Actual Less Encumbrances / Current Year: Actual Less Encumbrances / Prior Year:

(UNAUDITED)

33% 32%

26% 22%

slide-6
SLIDE 6

Robert W. Germaine, Clerk

$22.78 $20.15 $0 $5 $10 $15 $20 $25 $30 As of 3/31/20 As of 3/31/19

LONG-TERM DEBT

GOVERNMENTAL FUNDS

(In Millions)

(UNAUDITED)

slide-7
SLIDE 7

Robert W. Germaine, Clerk

(UNAUDITED)

Balance Interest Rate Final Payment Holder of Note

ISS Refunding Revenue Note, 2015 (Fund 151) 16,950,000.00 2.01% November 1, 2025 Regions Capital Advantage, Inc. Original Amount $23,600.000.00 Dated – May 7, 2015 EMS LifePak Equipment Purchase (Fund 005 and 151) 328,413.82 2.169% June 1, 2022 Flex Financial Original Amount $522,609.54 Dated – November 1, 2018 Public Improvement Revenue Note, Series 2019 (Fund 151) 5,500,000.00 2.08% August 01, 2034 SunTrust Original Amount $5,500,000.00 Dated – September 19, 2019

LONG-TERM DEBT

GOVERNMENTAL FUNDS

slide-8
SLIDE 8

Robert W. Germaine, Clerk

$1.14 $0.88 $1.13 $1.18 $0.0 $0.5 $1.0 $1.5 Original Budget 2019-2020 Current Budget 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19

RESERVE FOR CONTINGENCY

BEGINNING BUDGET TO CURRENT BUDGET

(In Millions)

(UNAUDITED)

77%

104%

slide-9
SLIDE 9

Robert W. Germaine, Clerk

RESERVE FOR CONTINGENCY

CHANGES DURING FISCAL YEAR

(UNAUDITED)

Budget Amendment Amount Description Date Approved

19-20-001 $ (509.00) Adjust Property Appraiser’s Budget for State Changes 10/1/2019 19-20-006 (99,900.00) Adjust Budget for Sheriff Vehicle Purchase 10/15/2019 19-20-012 (24,000.00) Realign Budget for Government Center Deputy 11/5/2019 19-20-035 (9,988.66) Rollover Project Adjustments and Closures 1/7/2020 19-20-043 13,975.00 Adjust Budget for Change in GIS Scope 1/21/2020 19-20-053 (120,000.00) Realign Budget for Inmate Housing in Polk County 2/18/2020 19-20-057 (18,529.00) Realign Budget for Building Dept Vehicle Replacement 2/18/2020

slide-10
SLIDE 10

Robert W. Germaine, Clerk

$9.21 $9.21 $7.35 $9.35 $9.35 $6.91 $1.04 $1.51 $0.37 $0.51 $0 $2 $4 $6 $8 $10 $12 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward

REVENUE – SOLID WASTE

BUDGET – TO – ACTUAL

(In Millions)

(UNAUDITED)

80%

74%

slide-11
SLIDE 11

Robert W. Germaine, Clerk

$10.25 $10.72 $3.87 $9.72 $9.86 $3.64 $0 $2 $4 $6 $8 $10 $12 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

EXPENSES – SOLID WASTE

BUDGET – TO – ACTUAL AND ENCUMBRANCES

(In Millions) Actual Less Encumbrances / Current Year: Actual Less Encumbrances / Prior Year:

(UNAUDITED)

31% 31%

37%

36%

slide-12
SLIDE 12

Robert W. Germaine, Clerk

LANDFILL CLOSURE LIABILITY

Percent Funded Six Fiscal Years

(In Millions)

130% 139% 138% 133% 130% 126%

$7.48 $6.55 $6.21 $6.03 $5.81 $5.64 $9.70 $9.11 $8.57 $8.03 $7.57 $7.14 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 2018-2019 Audited 2017-2018 Audited 2016-2017 Audited 2015-2016 Audited 2014-2015 Audited 2013-2014 Audited Total Landfill Closure Liability on Books Closure Liability Funded

slide-13
SLIDE 13

Robert W. Germaine, Clerk

$4.29 $4.29 $2.61 $4.42 $4.42 $1.20 $0.79 $0.79 $0.56 $0.56 $0 $1 $2 $3 $4 $5 $6 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward

REVENUE – ENERGY RECOVERY FUND

BUDGET – TO – ACTUAL

(In Millions)

(UNAUDITED)

61% 27%

slide-14
SLIDE 14

Robert W. Germaine, Clerk

$5.08 $5.08 $2.41 $4.98 $4.98 $1.13 $0 $1 $2 $3 $4 $5 $6 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

EXPENSES – ENERGY RECOVERY FUND

BUDGET – TO – ACTUAL AND ENCUMBRANCES

(In Millions) Actual Less Encumbrances / Current Year : Actual Less Encumbrances / Prior Year:

(UNAUDITED)

47% 23%

46% 22%

slide-15
SLIDE 15

Robert W. Germaine, Clerk

FUND SUMMARY

(UNAUDITED)

Fund Percent Collected / Billed General 76% 26 Percentage Points Above Target Special Revenue 33% 17 Percentage Points Below Target Solid Waste 80% 30 Percentage Points Above Target Energy Recovery 61% 11 Percentage Points Above Target Fund Percent Expended & Encumbered General 55% 5 Percentage Points Above Target Special Revenue 33% 17 Percentage Points Below Target Solid Waste 36% 14 Percentage Points Below Target Energy Recovery 47% 3 Percentage Points Below Target

REVENUES EXPENDITURES

Percentage Points Above/ Below Target of 50% Percentage Points Above/ Below Target of 50%

2nd QUARTER

slide-16
SLIDE 16

Robert W. Germaine, Clerk

REVENUE ISSRRN CAPITAL PROJECT FUND

BUDGET – TO – ACTUAL

(In Millions)

(UNAUDITED)

$0.00 $0.00 $0.00 $0.00 $0.01 $0.00 $0.21 $0.31 $0.95 $0.0 $0.3 $0.5 $0.8 $1.0 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward

0% 0%

slide-17
SLIDE 17

Robert W. Germaine, Clerk

EXPENDITURES ISSRRN CAPITAL PROJECT FUND

BUDGET – TO – ACTUAL AND ENCUMBRANCES

(In Millions) Actual Less Encumbrances /Current Year : Actual Less Encumbrances / Prior Year:

(UNAUDITED)

$0.00 $0.21 $0.21 $0.31 $0.95 $0.81 $0.0 $0.3 $0.5 $0.8 $1.0 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

100% 83%

100% 85%

slide-18
SLIDE 18

Robert W. Germaine, Clerk

$0.00 $0.00 $0.04 $0.00 $3.37 $0 $1 $2 $3 $4 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Revenue Carry-Forward Not Applicable;

This fund originated in September 2019

REVENUE PIRN CAPITAL PROJECT FUND

BUDGET – TO – ACTUAL

(In Millions)

(UNAUDITED)

0%

slide-19
SLIDE 19

Robert W. Germaine, Clerk

$0.00 $3.37 $1.48 $0 $1 $2 $3 $4 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Not Applicable;

This fund originated in September 2019

EXPENDITURES PIRN CAPITAL PROJECT FUND

BUDGET – TO – ACTUAL AND ENCUMBRANCES

(In Millions) Actual Less Encumbrances /Current Year : Actual Less Encumbrances / Prior Year:

(UNAUDITED)

44%

0% 41%

slide-20
SLIDE 20

Robert W. Germaine, Clerk

REVENUE – IMPACT FEES

BUDGET – TO – ACTUAL

(In Thousands)

(UNAUDITED)

$18.10 $18.10 $18.02 $18.02 $0.07 $0.07 $0.04 $0.06 $0.06 $0.04 $0 $5 $10 $15 $20 $25 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19 Revenue Carry-Forward Revenue

57% 67%

slide-21
SLIDE 21

Robert W. Germaine, Clerk

EXPENDITURES – IMPACT FEES

BUDGET – TO – ACTUAL AND ENCUMBRANCES

(In Thousands) Actual Less Encumbrances /Current Year : Actual Less Encumbrances / Prior Year:

(UNAUDITED)

$18.17 $18.17 $0.00 $18.08 $18.08 $0 $5 $10 $15 $20 $25 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

0% 0%

0% 0%

slide-22
SLIDE 22

Robert W. Germaine, Clerk

IMPACT FEES

COLLECTION & EXPENDITURE SUMMARY

(UNAUDITED)

Expended / Unspent Fund Collections Encumbered Balance FY 2008 Collections, Expended by 9/30/2014 Parks & Rec. Avon Park $6,494.48 $(4,623.89) $1,870.59 FY 2009 Collections, Expended by 9/30/2015 Transportation Lake Placid 62,147.41 (13,134.44) 49,012.97 Parks & Rec. Avon Park 2,415.54 0.00 2,415.54 Corrections Facilities 10,289.43 (7,349.64) 2,939.79 Libraries 3,658.77 (2,693.98) 964.79 Law Enforcement 3,201.05 (2,476.89) 724.16 EMS 1,700.77 (1,259.85) 440.92 FY 2011 Collections, Expended by 9/30/2017 Transporation Lake Placid 0.00 (49,012.97) (49,012.97) Fire 4,053.27 (832.97) 3,220.30 EMS 365.94 0.00 365.94 TOTAL $12,942.03

slide-23
SLIDE 23

Robert W. Germaine, Clerk

$1,249,875 76% $350,647 22% $35,924 2% Health Dental Wellness

EMPLOYEE BENEFIT FUND

FUND BALANCE

(UNAUDITED)

Total: $1,636,446

As of March 31, 2020

slide-24
SLIDE 24

Robert W. Germaine, Clerk

BOCC INVESTMENT PORTFOLIO

(UNAUDITED)

As of March 31, 2020

$260,391 0% $11,829,864 13% $10,552,750 11% $10,890,722 12% $618,326 1% $603,513 1% $24,038,624 26% $9,763,904 11% $5,775,108 6% $17,248,533 19% JP Morgan Chase (earning 0.00%) TD Bank (earning 0.50%) Certificates of Deposit (earning 1.65 - 2.38%) FL PRIME (earning 1.36%) FLGIT Short-Term Bond (earning 3.822%) FLGIT Day-To-Day (earning 2.07%) FL PALM (earning 1.38 - 1.82%) FLCLASS (earning 1.44%) FL SAFE (earning 1.16 - 2.42%) FL FIT (earning 1.49%)

TOTAL: $91,581,735

slide-25
SLIDE 25

Robert W. Germaine, Clerk

(UNAUDITED)

BOCC INVESTMENT PORTFOLIO

As of March 31, 2020

Book Value Market Value General Ledger Balance Statement Balance 30-day 12-Month Quarter YTD % of Total Portfolio % By Institution % By Type JP Morgan Chase - Cigna 260,391.35 $ 260,391.35 $ 0.000% 0.000%

  • $
  • $
  • $

(a) 5 stars N/A N/A 0.28% 0.28% TD Bank - Clearing 11,145,109.62 11,829,864.89 0.042% 0.500% 15,989.47 $ 27,171.54 $ 5,172.86 $ (a) 4 stars N/A N/A 12.92% 13.20% TD Bank - 12 month CD

  • 0.000%

0.000% 33,927.76 33,927.76 (c) Not Rated 1/7/2019 1/7/2020 0.00% TD Bank - 12 month CD 2,552,750.00 2,552,750.00 0.198% 2.380%

  • (c)

Not Rated 4/19/2019 4/18/2020 18 2.79% TD Bank - 12 month CD 5,000,000.00 5,000,000.00 0.138% 1.650%

  • (c)

Not Rated 12/20/2019 12/21/2020 265 5.46% 21.17% Regions Bank - 12 month CD 3,000,000.00 3,000,000.00 0.161% 1.930%

  • (c)

Not Rated 6/12/2019 6/11/2020 72 3.28% 3.28% 11.53% FL PRIME 10,890,721.78 10,890,721.78 0.116% 1.360% 44,450.34 84,749.23 (c) (b) AAAm Various N/A 1 11.89% 11.89% FLGIT - Short-Term Bond 618,325.81 618,325.81

  • 0.152%

3.822% 7,509.08 10,324.99 (c) (b) AAAf Various N/A 3 0.68% FLGIT - Day to Day Fund 603,512.54 603,512.54 0.109% 2.070% 2,327.98 5,104.61 (c) (b) AAAm Various N/A 1 0.66% 1.34% FL PALM 21,538,623.75 21,538,623.75 0.115% 1.380% 87,826.89 140,505.94 (c) (b) AAAm Various N/A 1 23.51% FL PALM - Term Series

  • 0.000%

0.000%

  • 20,510.74

(c) (b) AAAf 9/17/2019 12/13/2019 0.00% FL PALM - Term Series

  • 0.000%

0.000%

  • 24,683.98

(c) (b) AAAf 9/20/2019 12/19/2019 0.00% FL PALM - Term Series 2,500,000.00 2,500,000.00 0.152% 1.820%

  • (c)

(b) AAAf 8/28/2019 4/24/2020 24 2.73% 26.24% FL CLASS 9,763,903.69 9,763,903.69 0.122% 1.440% 39,732.59 68,832.40 (c) (b) AAAm Various N/A 1 10.66% 10.66% FL SAFE - Stable NAV 2,618,208.08 2,618,208.08 0.097% 1.160% 9,831.66 22,018.63 (c) (b) AAAm Various N/A 1 2.86% FL SAFE - Variable NAV 3,156,900.00 3,156,900.00

  • 0.463%

2.420% 9,300.00 26,100.00 (c) (b) AAAf 11/1/2017 6/30/2020 91 3.45% 6.31% FL FIT - Cash Pool 17,248,533.37 17,248,533.37 0.127% 1.490% 70,603.70 122,726.56 (c) (b) AAAf Various N/A 1 18.83% 18.83% 75.27% 90,896,979.99 $ 91,581,735.26 $ 0.092% 1.410% 321,499.47 $ 586,656.38 $ $ 5,172.86 (b) WAM 22 100.00% 100.00% 100.00% Benchmark (a) 0.096% 1.150% Above/(Below) Benchmark

  • 0.004%

0.260% (a) S&P Rated GIP Index/Government Net Yield Benchmark (as of March 27, 2020) (b) WAM (Weighted Average Maturity) (c) At Bauer Financial, banks are rated by stars. As of 12/31/2019, JP Morgan Chase was rated 5 stars and TD Bank was rated 4 stars. The rating system is: 5 star is Superior; 4 star is Excellent; 3 1/2 star is Good; 3 star is Adequate; 2 star is Problematic; 1 star is Troubled. (d) The Standard & Poor's rating scale is as follows, from excellent to poor: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-, CCC+, CCC, CCC-, CC, C, D. Any rating lower than a BBB- is considered a speculative or junk bond. (e) All rates of return are reported net of fees. Maturity Date Average Maturity (In Days) Portfolio Diversification Investment Rate of Return Investment Earnings Quarterly Fees Credit Rating Purchase Date

slide-26
SLIDE 26

Robert W. Germaine, Clerk

(UNAUDITED)

BOCC INVESTMENT PORTFOLIO ISSUER LIMITATIONS

As of March 31, 2020

21.17% 0.28% 3.28% 11.89% 1.34% 26.24% 10.66% 6.31% 18.83% 80.00% 80.00% 25.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%

0% 10% 20% 30% 40% 50% 60% 70% 80% TD Bank JP Morgan Chase Regions Bank FL PRIME FLGIT FL PALM FL CLASS FL SAFE FL FIT Actual Policy Limit

slide-27
SLIDE 27

Robert W. Germaine, Clerk

(UNAUDITED)

BOCC INVESTMENT PORTFOLIO TYPE LIMITATIONS

As of March 31, 2020

13.20% 11.53% 75.27% 80.00% 50.00% 75.00%

0% 10% 20% 30% 40% 50% 60% 70% 80% Public Funds Depository Accounts Certificates of Deposit Local Government Investment Pools Actual Policy Limit

slide-28
SLIDE 28

Robert W. Germaine, Clerk

Highlands __ __ __ __Count

nty Florida

ClerkofCourts

INTERIM FINANCIAL REPORT OF EMERGENCY MEDICAL SERVICES KEY OPERATING PERFORMANCE MEASURES AS OF

(UNAUDITED)

March 31, 2020

slide-29
SLIDE 29

Robert W. Germaine, Clerk

$4.15 $4.15 $1.62 $3.99 $3.99 $2.90 $0.22 $0.54 $2.01 $1.66 $0 $1 $2 $3 $4 $5 $6 Original Budget 2019-2020 Current Budget 3/31/20 Billings & Adjustments 3/31/20 Actual Cash Collections 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Billings & Adjustments 3/31/19 Actual Cash Collections 3/31/19 Billings Billing Adjustments Cash Collections

73%

REVENUE – EMS

BUDGET - TO - ACTUAL

(In Millions)

(UNAUDITED)

39%

slide-30
SLIDE 30

Robert W. Germaine, Clerk

$6.78 $6.91 $3.72 $6.33 $6.35 $3.49 $0 $1 $2 $3 $4 $5 $6 $7 Original Budget 2019-2020 Current Budget 3/31/20 Actual 3/31/20 Original Budget 2018-2019 Current Budget 3/31/19 Actual 3/31/19

EXPENDITURES – EMS

BUDGET-TO-ACTUAL & ENCUMBRANCES

Actual Less Encumbrances / Current Year: Actual Less Encumbrances / Prior Year: (In Millions)

(UNAUDITED)

54% 55%

48% 50%