FY 2011 Financial HighlightsPRINCIPAL OFFICIALS
(AT SEPTEMBER 30, 2011)
DARRYL C. AUBREY
MAYOR
DAVID B. NORRIS
VICE MAYOR
WILLIAM L. MANUEL
PRESIDENT PRO TEM
ROBERT A. GEBBIA
COUNCIL MEMBER
T.R. HERNACKI
COUNCIL MEMBER
JAMES TITCOMB
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
he a financial report under
generally amepted accounting principles.
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 vonnarn ing bneiv of the Village, can -
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.
THE VILLAGE OF
NORTH PALM BEACH,
FLORIDA
I !
to
FINANCIAL
HIGHLIGHTS
FOR THE YEAR ENDED
SEPTEMBER 30, 2011
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 vonnarn ing bneiv of the Village, can -
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
Governmental Expenditures
General Fund Unreserved
Fund Balance
Country Club Operations
The following graph presents revenues of the Village's
The following graph presents total expenditures of the
The following chart presents the operating
g
governmental funds for the past five years.
Village's governmental funds for the past five years.
revenues and expenses for the Country Club for
The following graph presents the general fund
the past five years.
unassigned fund balance (available, spendable resources)
for the past five years.
oP.M saran ■9ubb, W-k.
53,100.000
_.._ - -.. ..
ec�atp lt,.,,,e a(�ea,q l„mnes - �
eTaa �Imeatmmaam:al
0�1+iEK fa Smicm [SLicrnsesk Pem:ils
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■Urhttimtre B('mnmmirc l)n•R pl—iq
�e>tl:erua•anniee,c geapwle>.tlai.
�IdeOea [1016rr ------ - - - -- --
-.
90.000
812,000,000
- - - - - -- -
—
-
?5,000.000
:0.000,000 _—
$z0.00o.000 1
S10,000,000
53.300000
------ -------
9,100A 0
...
—_
$15.000.000
10.000.000
_
SS.WC.OW
-- — -- 1
5.0K000
$1JA00.00J
$2.900.000
. - .. .
-.. , .
..... _ ;
$5.aoo.000
56,000,000
91,1100000
is«nron1
-. -1
-- - -
•
- --� - -�
_
2 x,09 a010 o:r
(5,000,M)
/
s4,ao0,000
Components of revenues and expenses changed
2Ja�
zoo; 200F 2009 2J I0 2ml
as follows:
Components of revenue changed as follows:
Components of expenditures changed as follows:
s2,00uoo
Increase
i
2010 2011 (Decrease)
Operating Revenue $3,227,580 $ 3,571,199 $ 343,619
Increase
Increase
s.
2005 2009 tow 2011
2010 2011 (Decrease)
2010 2011 (Decrease)
Operating Expenses 3,205,053 3,507,048 301,995
Ad Valorem Tares $ 11,053,128 $10,441,869 $ (611,259)
Public Safety $ 7,021,231 $ 7,053,282 $ 32,051
Operating income (loss) 22,527 64,151 41,624
Other Local Taxes 1,381,022 1,400,538 19,516
Public Works 3,887,034 4,044,642 157,608
Nonoper ating revenues (expenses)(]23,167) (175,987) (52,820)
General fund unassigned fund balance at September
Franchise & Utility Taxes 3,465,703 3,389,303 (76,400)
Leisure Services- Recreation 2,361,388 2,295,959 (65,429)
Income (loss) $ (100,640) $ (111,836) $ (11,196)
Intergovernmental 653,441 416,633 (236,808)
Charges for Services 1,944,245 1,934,424 (9,821)
General Government 2,496,342 2,402,241 (94,101)
Debt Service 2,254,384 - (2,254,384)
30, 2011 was $10,668,660. This represents
Operating revenues and expenses increased due
Licenses & Permits 910,997 959,098 48,101
Community Dev. & Planning 774,121 790,937 16,816
approximately 62% of expenditures for fiscal year 2011.
to the Village running the restaurant for a full
Interest 280,218 97,743 (182,475)
Capital Outlay 663,582 682,057 18,475
year in 2011. Club memberships decreased in
Other 420,110 223,828 (196,282)
Total $19,458,082 $ 17,269,118 $(2,188,964)
the year, but this was made up from increased
Total $ 20,108,864 $ 18,863,436 $ (1,245,428)
1
revenues from the golf shop and driving range.
Excluding the restaurant operations expenses
Total revenues decreased 6.2% over 2010. The
Total expenditures decreased 11.2% from 2010, with the
decrease was primarily due Ad Valorem Taxes.
most significant decrease being Debt Service. The
decreased by about $84,000 from the prior year.
village paid off all the Governmental Long Term Debt in
the prior year.