TOWN CF CINCO IIAYOU20032004 FINANCIAL VORKSHOP MEETING MINUTES

2 June 2004

Mayor Norrn rnicci called the Financia Worksho Meetiil to order at 530 PM PresentP gat the meeting were Mayor Norm Frucci Mayor Pro Tem Carol Kocli CouucilmanVicki Simmons Town ManagerClerk r1e11 Webb and Assistant Monika Crillette

Attendees reviewed proposed line item changes to the fscal year 200304 btidetHighlights included

Revemies Ms Webb stated that revenues were in line with projections and that no lineitem changes were needed at this time

rxnenses Ms Webb stated that overall expenses were in line excet for legal servicesega advertising and engineering services due to the sign lawsuit and ComprehensivePlan update

Proposed chanes included

increasing 51431013000

Increasing 5193050

increasing 5194601000

Increasing 5194805000

Increasing 572340 600

Ms Webb stated that tlle towi was curently over budget by 21000 and under budgetby 25425

Ms Webb stated that a proposed updated 200304 budet would be presented at ihe nextregular council meeting and that there should be a discussion of ihe proposed milage ratefor 04O5

Adjourn There being no further business the meeting adjourned at 603 pm

ATTEST

it4cc

Norm lyrucci Mayor

Nell Webb Town ManagerClerk

9oauu Town of Cinco Bayouooroa Profit Loss Budget vs Actual

Accrual Basis October 2003 through May 2004

OctOS Mey 04 Budget E Over Budget X of Budget

Income

001 REVENUE ACCOUNTS

TAXES

311000 ADVALOREM TAXES 7588858 80370D0 d67142 942

312A10 FIRST LOCAL OPTION FUEL TAX 1185371 1943600 758229 810

Total TAXES 8755229 9980600 1225371 877

FRANCHISE FEES315100 FRANCHISE FEE GULF POWER 1700918 3350000 1649082 508

31SA00 FRANCHISE FEE OKALOOSA GAS 250940 350000 99060 717

Tofal FRWCHISE FEES 7951858 37OD000 1748142 528

UTILITY SERVICES TAXES514100 UTIL TAX GULF POWER 1279255 2230000 950745 574

314300 UTIL TAX WATER FlNB 268480 530000 263520 503

314A00 UTIL TAX NAT GAS OKALOOSA CO 120333 250000 129867 481i6

316000 U11L TAX LOCAL COM SERVICES 1453173 2615700 11B2527 558

Total UTILITY SERVICES TAXES 3119241 5825700 2506459 554

LICENSES AND PERMITS

321100 OCCUPATIONAL LICENSES 755300 700000 55300 1079

322000 PERMITS TOYVN 710903 80000 50903 1848r6

Totel LICENSES AND PERMITS 888203 760000 108203 1140Yo

STA7E GRANTS334700 FRDAP LAGUNA PARK 3096634 4260100 1163488 727334701 FRDAP GLENWOOD PARK PHASE 1 3605283 4863100 757817 828330702 FRDAP GLENVYOOD PHASE 11 2776980 5000000 2223020 555534703 BOATING IMP FUND SEAWAY 1500000 1500000 000 1000fo

Totel STATE GRANTS 10978897 15123200 4144303 72895

STATE SHARED REVENUESGENERAL GOVERNMENT

3351Z0 STATE REVENUE SHARING PROCEEDS 1812239 2358100 543881 76995

33b160 ALCOHOLIC BEVERAGE LICENSES 81019 100000 18981 81096535180 LOCAL GOVT HALFCENT SALES TAX 1354661 2788000 1433339 48896

Totel GENERAL GOVERNMENT 3247919 5244100 1996181 819

Total STATE SHARED REVENUES 3247919 5244100 1996187 879i6

SHARED REV OTHER LOCAL UNITS

538100 OCCUPA710NAL LiC OKALOOSA CO 87218 80000 27278 145496

Totel SHARED REV OTHER LOCAL UNITS 87218 60000 27218 1454ifo

PHYSICAL ENVIRONMENT343400 GARBAGEISOLID WASTE 1307582 3050000 1742478 429L

Total PHYSICAL ENVIRONMENT 1307582 3050000 1742418 429

FINES AND FORFEITS

351100 COURT FINES COUN7Y 69374 260000 190826 2B7

Total FINES AND FORFEITS 69374 260000 190626 267

INTEREST AND OTHER EARNINGS561140 VANGUARD BANK CHECKING 4878 5000 124 975381180 VANGUARD BANK CD 000 150000 150000 00361181 VANGUARD BANK MONEY MARKET 698 30000 29302 23367182 IN7EREST EJIRNINGS TAX COLL 004 5000 4996 01 No

561185 BEACH COMMUNITYBWK CD 83825 30000 53825 2794

Total INTEREST AND OTHER EARNING3 89403 220000 130597 40696

RENTS AND ROYALTIES

562300 SEAWAY RIGHT OF WAY WHATABURGER 10000 10000 000 100096362Z00 TEMP CELL TOYYER LEASE 1228000 1800000 572000 882k

382000 SEAWAY STREET 50000 50000 000 1000562100 FACILI7Y RENTALTOYYN HALL 45000 25000 20000 1800

Total RENTS AND ROYAL7IES 1333000 1885000 552000 707

OTHER MISCELLANEOUS REVENUES

368500 SCHOOL PLANNING INTERLOCAL AGRE 54778

368200 OTHER MISC REV TRAFFIC SIGNAL 000 50000 50000 00

369000 OTHER MISC REV 2100 50000 47900 425

3B9100 OTHER MISC REV SR BS MAINT 118434 236800 116386 50096

Tofal OTHER MISCELLANEOUS REVENUES 175312 336800 161488 52196

Total 001 REVENUE ACCOUNTS 31981236 48245400 14264164 892

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Town of Cinco BayouProfit 8 Loss Budget vs Actual

October 2003 through May 2004

CULTURFJRECREATION

571540 LIBRARY MEMBERSHIP

Total CULTURFJRECREA710N

PARKS AND RECREATION572340 07HER CONTRACTUAL SERVICES

57Z430 U7ILITIES PAfCS

672620 OPERATING SUPPUES PARKS572630 REPAIRS d MAINiENANCE PARKS

FRDAP GRANT IAGUNA PARK

572631 FRDAP GRANTMGUNA PARK

Totai FRDAP GRANT LAGUNA PARK

FRDAP GRANT GLENWOOD PK PHASE 1

572632 FRDAP GRANTGLENWOOD PARK

To1a1 FRDAP GRANT GLENWOOD PK PHASE 1

FRDAP GRANT GLENWOD PK PHASE II

572693 FRDAP GRANTlGLENWOOD PK II

Total FRDAP GRANT GLENWOD PK PHASE 11

BOATINGIMPROVEMENTFUND572636 BOATING IMPROVEMENT FUND

Totel BOATINf31MPROVEMENT FUND

Total PARKS AND RECREATION

SPECULL EVENTS674490 SPECIAL EVENTSIPICMC DINNERS

Total SPECIAL EVENTS

SPECU4L RECREATION FACItJTIES575630 MAINTENANCE SEAWAY BOAT RAMP

Totel SPECIAL RECREATION FACiLITIES

OTHER CUL7URFJRECREA710N

578BS0 TREEJBEAIITIFICATION

Total OTHER CULTURERECREATION

OTHER USES581910 INTERFUI iRANSFER BOAT LAUNCH680990 CONTINGENCY FUND

Total OTHER USES

Total001EXPENDITUREEXPENSE ACCTS

Total Expanse

Net Income

Oct03 May 04 Budget i Ovar Budget ot Budget

000 40000 0000 00

000 40000 40000 00h

709662 1212400 502738 58596

51978 110000 58022 47396

31298 50000 18702 8289683949 378000 294057 222

2T98019 4288400 1441381 68096

2798019 4239400 1441381 66090

2559223 4358500 1799277 587k

2559223 4358500 1799277 587

1444500 5000000 3555500 289

1444500 5000000 3555500 289

1275200 1500000 2248D0 850

1275200 1500000 224800 85096

8953829 16848300 7894471 537

171454 200000 28546 85796

171454 200000 28548 857

84726 50000 34726 1695

84726 500D0 34728 1695

000 50000 50000 00

000 50000 50000 00

147655 1500000 1352345 98

000 421800 421800 0096

147855 1921800 1773945 7790

29845275 47745400 17900125 825

29845275 47745400 17900125 825l6

2927251 000 2927251 1000

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