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Home My WebLink About1997 09 22 Regular Item A COMMISSION AGENDA ITEM A REGULAR xx CONSENT INFORMATIONAL September 22, 1997 Meeting REQUEST: The City Manager is requesting the City Commission hold a Public Hearing relative to the approval of Resolution No. 829, setting the Final Millage Rate at 3.600 Mils or an alternative rate the Commission deems appropriate and adoption of same, and relative to the adoption of the final reading of Ordinance No. 677 establishing the Final Budget for Fiscal Year 1997-1998. PURPOSE: The purpose of this agenda item is to have the Commission approve Resolution No. 829 establishing the Final Millage Rate at 3.600 mils or an alternative rate the Commission deems appropriate. CONSIDERATIONS: The actions requested in this agenda item are necessary to comply with the Truth in Millage Act and to approve desired changes to the budget subsequent to the Budget Workshops. The Commission can reduce the millage further at the final budget hearing scheduled for September 22, 1997. On July 25, 1997 the Commission established the proposed millage rate at 3.6883 mils including .08 mils to finance $1,000,000 in neighborhood park improvements, however, at this time we do not see a need for additional millage to finance the park improvements project. ALTERNATIVES: Millage Rate Roll Back Rate Recommended Alternative Current Millage 3.5019 3.6000 3.6083 New Revenue Generated $112,000 196,000 203,000 0/0 Tax Increase .00% 2.80% 3.02% For comparison, a home with an assessed value of$100,000, the homeowners taxes would reflect the following change. Assessed value of$100,000 Assessed value of$100,000 Assessed value of$100,000 Millage Rate 3.5019 3.6000 3.6083 RECOMMENDATION: Dollar Increase $ 0.00 10.00 11.00 % Increase .00% 2.80% 3.02% 1. The Commission hold a Public Hearing relative to adoption of the Final Millage and Annual Budget for Fiscal Year 1998, and a) Adopt Resolution No. 829 setting the Final Millage at 3.6000 mils, and at the Final Budget hearing reduce the millage rate if so desired or an alternative rate the Commission deems appropriate. IMPLEMENTATION SCHEDULE: Upon approval of the final budget hearing scheduled for September 22, 1997 the Budget for Fiscal Year 1997 - 1998 would be implemented and become effective on October 1, 1997. ATTACHMENTS: a. Resolution No. 829 COMMISSION ACTION: COMMISSION AGENDA ITEM A.I REGULAR xx CONSENT INFORMATIONAL September 22, 1997 Meeting REQUEST: The City Manager is requesting the City Commission hold a Public Hearing relative to the approval of Ordinance No. 677, establishing the Final Budget for Fiscal Year 1997-1998. PURPOSE: The purpose of this agenda item is to have the Commission adopt the second reading of Ordinance No. 677, otherwise known as the Final Budget for Fiscal Year 1997-1998. CONSIDERATIONS: The Final Budget is the same as the Proposed Budget discussed during the Budget Workshops sessions except the changes reflected in the attached memorandum. Any changes or deletions requested by the City Commission will be reflected in the second reading (Final Budget Hearing) scheduled for September 22, 1997. The Commission can further amend the budget at the second reading, RECOMMENDATION: 1. The Commission make any amendments it deems necessary to the Final Budget. 2. Adopt the Second Reading of Ordinance No. 677. IMPLEMENTATION SCHEDULE: Upon approval and adoption of Ordinance No, 677 at the second reading the Budget for Fiscal Year 1997 - 1998 would be implemented and become effective on October 1, 1997. ATTACHMENTS: a. Ordinance No. 677. b. Memorandum dated September 4, 1997 from Finance Director COMMISSION ACTION: '0 . MEMORANDUM To: Ron McLemore, City Manager From: Harry Martin, Finance Director Date: September 4, 1997 Re: FY 1997 - 1998 Tentative Budget The following outlines the various changes incorporated into the Tentative Budget to be adopted at the September 10, 1997 Commission meeting. GENERAL FUND REVENUES: Ad Valorem Tax Revenues have been adjusted from $3,129,450 to $3,079,058 to reflect a reduction of $50,392 which translates into a millage rate reduction from 3.6083 mils to 3.6000 mils. The 3.6000 mils is .0981 mils over the Rolled Back Rate 00.5019 and constitutes a 2.8% increase in the millage rate for 1998. After receiving the estimates on Cigarette Tax Revenues, State Revenue Sharing and Half-cent Sales Tax Revenues from the Florida Advisory Council on Intergovernmental Relations an adjustment to the General Fund Revenues results in a net increase for these three Revenues of $234,506. The cumulative result of the above is a net increase in General Fund Revenues of $184,114. GENERAL FUND DEPARTMENTAL EXPENDITURES: Since the Workshops that were held in June, 1997 are-alignment of some of the departments was made to incorporate expenses of the General Services Department which was eliminated. The results of this re-alignment produced a reduction of approximately $65,000. There was added to the City Clerks Budget an additional $50,000 for Legal Services based upon what is happening in FY 96-97, Added $25,000 to Community Development Department for Consulting Services. There was included as New Operating Costs $100,000 for the Pension Contribution and $15,000 to cover premiums for the Disability Insurance. Also included under New Operating Costs is $68,000 for Consulting Engineer for the Parks & Recreation plans for Neighborhood Parks and $12,000 was added to cover the publication of a City News Letter. Capital Outlays for City Clerks office and Parks and Recreation were carried over from FY97 amounting to $112,551. The cumulative result of the above is a net increase in General Fund Expenditures of $296,552. With an increase in Revenues of$184,114 and the increase in expenditures of$296,552 the change to Appropriations from Fund Balance is an increase from $308,914 to $420,102 or $111,188. OTHER GOVERNMENTAL FUNDS: There were no changes made in the Other Governmental Funds except Stormwater Management and that was only to reflect a larger increase in Health Insurance premiums. WATER/SEWER ENTERPRISE FUNDS: There were no changes to the Revenues or base operating expense budget. The changes effecting New Personnel costs are the result of increased health insurance premiums amounting to $2,978 and the addition of Disability Insurance cost of $5,000. Other New Operating costs reflect $25,000 carryover from FY97 for Rate Study and $50,000 as Pension contributions. The cumulative result of the above is a net increase in Operating Expenditures of $82,978. With no changes in Revenues and an increase in Expenditures, the resulting change is a reduction in the amount Appropriated to Fund Balance of $82,978. 4"'1'" FY 97-98 FY 97-98 Changes Proposed Tentative Increase Budget Budget (Decrease) GENERAL FUND REVENUES: Ad Valorem Taxes $3,129,450 $3,079,058 ($50,392) Cigarette Taxes $91,088 $83,930 ($7,158) State Revenue Sharing $530,701 $593,883 $63,182 Half-cent Sales Taxes $1,489,638 $1,668,120 $178,482 Increase (Decrease) to General Fund Revenues $184.114 GENERAL FUND EXPENDITURES: (by Departments) Base Budqets Commission $46.8'50 $47,450 $600 Various Boards $11,200 $11,200 $0 City Manager $144,019 $183,600 $39,581 City Clerk $233,403 $283,403 $50,000 Finance $246,846 $290,621 $43,775 Personnel $52,738 $52.738 $0 General Services $320,754 $0 ($320,754) Purchasing $84,748 $184,748 $100,000 Information Services $54,095 $54,095 $0 Utility Finance Department $338,349 $338,349 $0 Engineering $83,395 $83,395 $0 Community Development $133,697 $161,696 $27,999 Land Management $56,089 $56,089 $0 General Government $47,500 $47,500 $0 Police Department $2,312,592 $2,312,592 $0 Fire Department $1,808,947 $1,808,947 $0 Building Department $220,843 $220,843 $0 Code Enforcement $59,089 $59.089 $0 Public Works Department $964,397 $997,462 $33,065 Recreation Department $836,618 $836,618 $0 Increase (Decrease) in Base Budgets ($25,734 ) New Personnel Costs $361,456 $376,191 $14,735 New Operating Costs $214,787 $409,787 $195,000 Capital Outlay $494,555 $607.106 $112,551 Increase (Decrease) to General Fund Expenditures $296,552 Appropriations from Fund Balance $308.914 $420,102 $111,188 WATER/SEWER ENTERPRISE FUND: Operating Revenues $5,732,290 $5,732,290 $0 Base Operating Budget $4.687,902 $4,687,902 $0 New Personnel Costs $48,497 $56,475 $7,978 New Operating Costs $19,667 $94,667 $75,000 Capital Outlay $361,950 $361,950 $0 Debt Service $400,000 $400,000 $0 Increase (Decrease) in Operating Expenses $82,978 Appropriations to Fund Balance $214,274 $131,296 ($82,978)