FY 2014 Financial HighlightsPRINCIPAL OFFICIALS
(AT SEPTEMBER 30, 2014)
DARRYL C. AUBREY
MAYOR
ROBERT A. GEBBIA
VICE MAYOR
DAVID B. NORRIS
PRESIDENT PRO TEM
WILLIAM L. MANUEL
COUNCIL MEMBER
DOUG BUSH
COUNCIL MEMBER
JAMES P. KELLY
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
be a financial report under
generally accepted accounting principles.
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THE VILLAGE OF
NORTH PALM BEACH,
FLORIDA
�1
FINANCIAL
HIGHLIGHTS
FOR THE YEAR ENDED
SEPTEMBER 30, 2014
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 governing body of the Village con-
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
The following graph presents revenues of the Village's
governmental funds for the past five years.
■ Taxes ■ Intergovernmental
❑ Charges for Services ❑ Licenses & Permits
■ Interest ■ Other
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
2010 2011 2012 2013 2014
Components of revenue changed as follows:
Total revenues increased 5.0% over 2013.
The largest increase was in building permits.
Governmental Expenditures
The following graph presents total expenditures of the
Village's governmental funds for the past five years.
Components of expenditures changed as follows:
$13,000,000
$12,500,000
Increase
2013
2014
(Decrease)
Ad Valorem Taxes
$ 9,981,391
$10,154,695
$173,304
Other Local Taxes
1,449,073
1,526,764
77,691
Franchise &Utility Taxes 3,358,540
3,510,035
151,495
Intergovernmental
630,382
427,991
(202,391)
Charges for Services
2,141,437
2,320,305
178,868
Licenses &Permits
803,337
1,344,653
541,316
Interest
37,029
16,653
(20,376)
Other
338,600
375,955
37,355
Total
$18,739,789
$19,677,051
$ 937,262
Total revenues increased 5.0% over 2013.
The largest increase was in building permits.
Governmental Expenditures
The following graph presents total expenditures of the
Village's governmental funds for the past five years.
Components of expenditures changed as follows:
Total expenditures increased 7.9% from 2013, with
most of the increases being due to higher
personnel- related costs.
General Fund Unassigned
Fund Balance
The following graph presents the general fund
unassigned fund balance (available, spendable resources)
for the past five years.
$13,000,000
$12,500,000
Increase
2013
2014
(Decrease)
Public Safety
$ 7,947,221
$ 8,947,627
$1,000,406
Public Works
3,733,977
3,773,689
39,712
Leisure Services- Recreation
2,491,559
2,644,598
153,039
General Government
2,346,281
2,541,546
195,265
Community Dev. & Planning
933,117
1,004,642
71,525
Capital Outlay
1,110,051
1,117,234
7,183
Total
$18,562,206
$ 20,029,336
$1,467,130
Total expenditures increased 7.9% from 2013, with
most of the increases being due to higher
personnel- related costs.
General Fund Unassigned
Fund Balance
The following graph presents the general fund
unassigned fund balance (available, spendable resources)
for the past five years.
General fund unassigned fund balance at September
30, 2014 was $12,388,365. This represents
approximately 66% of expenditures for fiscal year 2014
Country Club Operations
The following chart presents the operating
revenues and expenses for the Country Club for
the past five years.
53,700,000
53,700,000
$13,000,000
$12,500,000
$12,000,000
$11,500,000
2014
$11,000,000
Operating Revenue
�lgsog000
$ 3,645,706
�lgoog000
Operating Expenses
�9sog000
3,750,844
283,275
Operating income (loss)
$9,OOQ000
2010 2011 2012 2013 2014
General fund unassigned fund balance at September
30, 2014 was $12,388,365. This represents
approximately 66% of expenditures for fiscal year 2014
Country Club Operations
The following chart presents the operating
revenues and expenses for the Country Club for
the past five years.
53,700,000
53,700,000
■Operating Revenue
■Operating Expenses
53,600,000
2014
(Decrease)
Operating Revenue
53,500,000
53,400,000
53,300,000
33,200,000
53,100,000
53,000,000
52,900,000
$ 3,645,706
$ 68,260
Operating Expenses
3,467,569
3,750,844
283,275
Operating income (loss)
109,877
(105,138)
(215,015)
Nonoperating revenues (expenses) (83,091)
(140,357)
2010 2011 2012 2013 2014
Components of revenues and expenses changed
as follows:
Operating revenues had a slight increase in the
year and expenses increased by $283,275 due
pnmanly to increased repair and maintenance
expense during the year. The decrease in
nonoperating revenues was due to the prior year
having a gain on the sale of old golf carts.
Increase
2013
2014
(Decrease)
Operating Revenue
$ 3,577,446
$ 3,645,706
$ 68,260
Operating Expenses
3,467,569
3,750,844
283,275
Operating income (loss)
109,877
(105,138)
(215,015)
Nonoperating revenues (expenses) (83,091)
(140,357)
(57,266)
Income (loss)
$ 26,786
$ (245,495)
$ (272,281)
Operating revenues had a slight increase in the
year and expenses increased by $283,275 due
pnmanly to increased repair and maintenance
expense during the year. The decrease in
nonoperating revenues was due to the prior year
having a gain on the sale of old golf carts.