HomeMy WebLinkAbout100405 CAFRCity of Virginia Beach
Comprehensive
Annual
Financial Report
Unaudited
Financial Results
Financial Results
2004-2005
Unaudited
Unaudited
2004-05
2004-05
General Fund –Summary of Results
Fiscal Year 2005
Unaudited
(in millions)
Variance
BudgetActualAmount%
Revenues$820.4$845.3$24.93.0
Expenditures861.0830.0(31.0)3.6
Excess (40.6)15.355.9
Fund Balance:
July 1, 2004123.3123.3
June 30, 200582.7$138.6
Less: Reservations42.1
Undesignated Fund Balance,
June 30, 2005$ 96.5
Balance as % of 2006 Revenues11.2%
Council Policy for Fund Balance8-12%
General Fund Revenues
For Fiscal Year Ended June 30, 2005 (in millions)
Unaudited
BudgetActualVariance
Local$724.2$749.1$24.9
State73.973.4(.5)
Federal22.322.8.5
Total Revenues$820.4$845.3$24.9
General Fund
Summary of Expenses
(1)
June 30, 2005 (in millions)
Unaudited
BudgetActualVariance
City Expenses$567.0$545.0$22.0
(2)
Schools (City Funding)294.0285.09.0
Total Expenses$861.0$830.0$31.0
(1)Includes encumbrances
(2)Total School Reversion for FY2005 was $10.4 million. $1.4 million provided for School
Technology
Water and Sewer Enterprise Fund
Statement of Revenues, Expenses, and Encumbrances
For the fiscal Year Ended June 30, 2005 (in millions)
Unaudited
BudgetActualVariance
Revenues:
Sale of Water$40.9$41.2$ .3
Charges for Services35.435.3(.1)
Miscellaneous Revenue6.511.04.5
Total Revenues$82.8$87.5$ 4.7
Expenses (includes encumbrances):
Water Services Contract$24.8$23.2$ 1.6
Debt Service12.59.72.8
Operating & Other Expenses55.558.4(2.9)
Total Expenses & Encumbrances
$92.8$91.3$ 1.5
Total Appropriations From Cash10.0
Total Appropriations From
Current Revenues
$82.8
School Operating Fund-Statement of Revenues, Expenses & Encumbrances
For the Fiscal Year Ended June 30, 2005 (in millions)
)
(Unaudited
REVENUESBudgetActualVariance
City$257.9$247.5$(10.4)*
Local2.73.3.6
From Commonwealth302.2304.11.9
From Federal Government14.416.42.0
Total Revenues$577.2$571.3$ (5.9)
EXPENDITURES
Instruction$463.5$459.1$ 4.4
Admin. Attendance & Health 19.719.2.5
Pupil Transportation26.325.5.8
Operations & Maintenance79.078.7.3
Total Expenditures &
Encumbrances
$588.5$582.5$ 6.0
*
Reversion amount to be reappropriated in accordance with RevenueSharing Policy.