HomeMy WebLinkAbout2005 07 11 Regular Item 501- Resolution 2005-24, Millage Rate For FY 2005-2006
COMMISSION AGENDA
ITEM 501
I CONSENT
INFORMATIONAL
PUBLIC HEARING
REGULAR X
July 11, 2005
Meeting
MGR ~EPT.
Authorization
REQUEST: The City Manager is requesting that the City Commission approve Resolution
No. 2005-24, computing the Proposed Millage Rate for Fiscal Year 2005-2006, establishing
the rolled-back rate and setting the date, time and place of a public hearing to consider the
proposed millage rate and tentative budget for Fiscal Year 2005-2006.
PURPOSE: To gain Commission agreement regarding the information to be relayed to
the Property Appraiser on the Form DR-420 which sets the proposed operating millage
rate and voted debt service millage rate; establishes the rolled-back rate; and sets the date,
time and place for the public hearing to consider the proposed millage rate and tentative
budget.
CONSIDERATIONS:
Resolution No. 2005-24:
Sets the Proposed Millage Rate (Cap).
The FY 2004-2005 (current) operating millage is 4.30 mills and voted debt service is 0.25
mills. The FY 2005-2006 preliminary budget as recommended by the Manager included an
operating millage of 4.30 mills and voted debt service of 0.1393 mills. Due to the recently
received gross taxable value from the DR 420 ($1,661,604,936) the voted debt service
millage requirement is now 0.1374 mills for a total recommended millage rate of 4.4374
mills.
. Please remember that this resolution will establish the millage rate cap. The final
millage rate can be lowered from the adopted millage rate cap; however. if it is
raised, the propertv owners must be re-noticed at the Citv's expense.
071105 _ COMM _Regular _501 ]roposed _Millage_Cap
. Note that the 4.30 operating millage rate in the preliminary budget will not entirely cover
all the potential budget changes the City Commission is considering. The Commission
may want to factor in other budget items not currently included in order to encompass all
considerations under the Proposed Millage Rate Cap (see attached Alternative Millage
Worksheet)
. Also attached is a revised General Fund Fiscal Policy Test which includes adjustments to
revenues and expenditures subsequent to the printing of the Preliminary Budget. Among
these revisions are CommissionlMayor compensation increase, health insurance premium
decrease, half-cent, revenue sharing and ad valorem increases.
. The following represents a few of the potential millage choices for the DR-420:
Additional Revenue
Operating Operating Actual Tax Generated over
Millage Increase Millage Increase as a % Current Millage
(over 4.300) Rate of Roll Back (budget recommendation)
Roll Back 3.9214 N/A ($603,920)
Current Millage 4.3000 9.65% N/A
Tenth of a mill 4.4000 12.20% $159,514
Two-tenths of a mill 4.5000 14.75% $319,028
Seven-tenths of a mill 5.0000 27.50% $1,116,599
One mill 5.3000 35.16% $1,595,141
. The Resolution establishes the rolled-back rate at 3.9214 as calculated on the form DR-420.
. The Resolution sets the date, time and place of the public hearing to consider the proposed
millage rate and the tentative budget - City Commission Chambers located at City Hall, 1126
East State Road 434, Winter Springs, Florida, on September 12,2005 at 6:30 pm.
RECOMMENDATION:
It is recommended that the Commission take the following actions:
1) Adopt Resolution 2005-24 setting the proposed operating millage rate at 5.0000 mills and
establishing the rolled-back rate at 3.9214 mills, and setting the proposed voted debt service
millage rate at 0.1374 mills.
2) Establish the date, time and place for a public hearing regarding the proposed millage rate
and the tentative budget for September 12, 2005 at 6:30 pm at Winter Springs' City Hall.
ATTACHMENTS:
· Resolution 2005-24
· General Fund Fiscal Policy Test
· Alternative Millage Worksheet
COMMISSION ACTION:
071105_ COMM _Regular_50 I ]roposed _Millage_Cap
RESOLUTION NO. 2005-24
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, ESTABLISHING THE ROLLED-BACK
RATE; COMPUTING A PROPOSED MILLAGE RATE; AND SETTING
THE DATE, TIME AND PLACE OF A PUBLIC HEARING TO
CONSIDER THE PROPOSED MILLAGE RATE AND TENTATIVE
BUDGET FOR FISCAL YEAR 2005-2006; PROVIDING FOR REPEAL OF
PRIOR INCONSISTENT RESOLUTIONS; SEVERABILITY; AND AN
EFFECTIVE DATE.
WHEREAS, Florida Statute 200.065 (2) (a) 1. expressly provides that municipalities
shall compute a proposed millage rate; and
WHEREAS, Florida Statute 200.065 (4) (b) requires that within 35 days of certification
of value, each taxing authority shall advise the property appraiser of its proposed millage rate, of
its rolled-back rate, and of the date, time, and place at which a public hearing will be held to
consider the proposed millage rate and the tentative budget; and
WHEREAS, Florida Statute 200.065 (4) (c) further requires that within 80 days of
certification of value, but not earlier than 65 days after certification, the governing body of each
taxing authority shall hold a public hearing on the tentative budget and proposed millage rate.
WHEREAS, the City Commission of the City of Winter Springs deems that this
Resolution is in the best interests of the public health, safety, and welfare of the citizens of
Winter Springs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct
and are hereby fully incorporated by this reference.
Section 2. Proposed Milla2e Rate. The proposed operating millage rate for the City of
Winter Springs, Florida for the Fiscal Year 2005-2006 is set at 5.0000 mills and the computed
aggregate rolled-back rate is 3.9214 mills.
In addition, the proposed millage rate for the City of Winter Springs for voted debt service is
0.1374 mills.
Section 3. Public Hearin2. A public hearing shall be held in the City Commission
Chambers located at City Hall, 1126 East State Road 434, Winter Springs, Florida, on September
12, 2005 at 6:30 P.M. to consider the adoption of the proposed millage rate and the tentative
budget for Fiscal Year 2005-2006.
071105_ COMM_Regular_501_Attachment_1_Resolution _2005-24
Section 5. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of
resolutions in conflict herewith are hereby repealed to the extent of the conflict.
Section 6. Severability. If any section, subsection, sentence, clause, phrase, word, or
portion of this Resolution is for any reason held invalid or unconstitutional by any court of
competent jurisdiction, such portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the remaining portion hereto.
Section 7. Effective Date. This Resolution shall become effective immediately upon
adoption by the City Commission of the City of Winter Springs, Florida.
RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular
meeting assembled on the 11 th day of July, 2005.
JOHN F. BUSH, Mayor
ATTEST:
ANDREA LORENZO-LUACES, City Clerk
Approved as to legal form and sufficiency for
the City of Winter Springs only:
ANTHONY A. GARGANESE, City Attorney
071105 _ COMM_Regular_501_Attachment_l_Resolution_2005-24
CITY OF WINTER SPRINGS
FISCAL YEAR 2005-2006 TENTATIVE BUDGET
GENERAL FUND FISCAL POLICY TEST
REVISED SINCE PRELIMINARY
MANAGER RECOMMENDED
OPERATING COVERAGE
RECURRING REVENUE
$17,767,826
TOTAL EXPENDITURES
LESS:
Capital Expenditures
Nonrecurring Operating - IS Records Management
$17,911,309
($547,270)
($154,065)
RECURRING PERSONNEL AND OPERATING EXPENDITURES $17,209,974
($17,209,974)
EFFECT ON FUND BALANCE - OPERATING COVERAGE
$557,852
CAPITAL COVERAGE
NON-RECURRING REVENUE
$541,829
LESS:
Capital Expenditures
Nonrecurring Operating - IS Records Management
EFFECT ON FUND BALANCE - CAPITAL COVERAGE
($547,270)
($154,065)
($159,506)
TOTAL EFFECT ON FUND BALANCE
$398,346
FUND BALANCE
PROJECTED 10/01/05 FUND BALANCE
$4,707,479
FY 06 BUDGETED EFFECT ON FUND BALANCE
$398,346
PROJECTED 9/30/06 FUND BALANCE
$5,105,825
Fund Balance Goal is 25% of Personnel and Operating Expenditures = $4,302,494
0711 05_ COMM_Regular_501~ttachments_2-3
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RESOLUTION NO. 2005-24
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, ESTABLISHING THE ROLLED-BACK
RATE; COMPUTING A PROPOSED MILLAGE RATE; AND SETTING
THE DATE, TIME AND PLACE OF A PUBLIC HEARING TO
CONSIDER THE PROPOSED MILLAGE RATE AND TENTATIVE
BUDGET FOR FISCAL YEAR 2005-2006; PROVIDING FOR REPEAL OF
PRIOR INCONSISTENT RESOLUTIONS; SEVERABILITY; AND AN
EFFECTIVE DATE.
WHEREAS, Florida Statute 200.065 (2) (a) 1. expressly provides that municipalities
shall compute a proposed millage rate; and
WHEREAS, Florida Statute 200.065 (4) (b) requires that within 35 days of certification
of value, each taxing authority shall advise the property appraiser of its proposed millage rate, of
its rolled-back rate, and of the date, time, and place at which a public hearing will be held to
consider the proposed millage rate and the tentative budget; and
WHEREAS, Florida Statute 200.065 (4) (c) further requires that within 80 days of
certification of value, but not earlier than 65 days after certification, the governing body of each
taxing authority shall hold a public hearing on the tentative budget and proposed millage rate.
WHEREAS, the City Commission of the City of Winter Springs deems that this
Resolution is in the best interests of the public health, safety, and welfare of the citizens of
Winter Springs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct
and are hereby fully incorporated by this reference.
Section 2. Proposed Milla2e Rate. The proposed operating millage rate for the City of
Winter Springs, Florida for the Fiscal Year 2005-2006 is set at 8.0000 mills and the computed
aggregate rolled-back rate is 3.9214 mills.
In addition, the proposed millage rate for the City of Winter Springs for voted debt service is
0.1374 mills.
Section 3. Public Hearin2. A public hearing shall be held in the City Commission
Chambers located at City Hall, 1126 East State Road 434, Winter Springs, Florida, on September
12, 2005 at 6:30 P.M. to consider the adoption of the proposed millage rate and the tentative
budget for Fiscal Year 2005-2006.
071105 _ COMM_ Regular _501_Attachment_l_Resolution_2005-24
"...---",,,,,,,,-~..~.,---~...,._".."_.~_.....,,,_.
Section 5. ReDeal of Prior Inconsistent Resolutions. All prior resolutions or parts of
resolutions in conflict herewith are hereby repealed to the extent of the conflict.
Section 6. Severability. If any section, subsection, sentence, clause, phrase, word, or
portion of this Resolution is for any reason held invalid or unconstitutional by any court of
competent jurisdiction, such portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the remaining portion hereto.
Section 7. Effective Date. This Resolution shall become effective immediately upon
adoption by the City Commission of the City of Winter Springs, Florida.
RESOLVED by the City Commission of the City of Winter Springs", Florida, in a regular
meeting assembled on the 11th day of July, 2005. .
~~./~-
ATTEST:
Approved as to legal form and sufficiency for
the Ci of inter Springs only:
ANTHONY A. GARGANESE, City Attorney
071105 _ COMM_Regular_501_Attachment_l_Resolution_2005-24
Date: July 11, 2005
The following Document was provided to the
City Commission on July 11, 2005 during
Regular Agenda Item "SOl".
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