The first quarter reports for Escambia County were submitted to the county commission earlier this month. They cover from Oct. 1, 2008-Dec. 31, 2008.
The Solid Waste Fund is ahead of budget, having already made $827,666 from its operations and an additional $237,689 in interest income and from the disposal of assets. Overall the Solid Waste -which is includes the Perdido Key Landfill – has made 68 percent of its projected net income. Why? Operating expenses are down 9 percent.
Inspection Fund has lost $250,306 from operations – which is 25 percent of the budgeted $1,003,710 operating loss. Interest income is down 15%. Overall Inspection Fund lost $217,459 – 4 percent over budget.
Emergency Medical Services made $1,133,123. However EMS has budgeted $4,200,000 for bad expense and plans to have $3,237,251 operating loss for the year. If a quarter of the bad debt expense had been allocated, the net profit for the first quarter would be $83,123.
The Civic Center Fund is a little more interesting. It is projected to lose $1,144,515 from operations. It will receive $1,336,541 in bed tax money and another $23,445 in interest and reimbursements. The County then takes $621,073 out of the fund for personnel, county operating, county capital and bad debt. That gets the total budgeted loss down to $405,602 for the year.
Now here is what has happened at the Civic Center for the first quarter:
Net Event Income: $188,996
Net Concession Loss: ($32,905)
Admin & Overhead expense: ($223,793)
Net Operating Loss: ($67,702)
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Bed Tax & Interest income: $319,821
Charges from County: ($107,943)
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Net Profit: $144,176
There are several expenses that didn’t get allocated but are budgeted. If 25 percent is allocated, the profit shrinks
Facility Management Fee ($40,767)
County Personnel ($31,396)
County Capital ($48,831)
Bad Debt ($3,373)
Adjusted net profit: $19,809….not bad