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HomeMy WebLinkAbout2018 07 09 Regular 503 Resolution 2018-12, FY19 Proposed Budget and Millage CapCOMMISSION AGENDA ITEM 503 REQUEST: Informational Consent Public Hearings Regular X July 09, 2018 SB SB Regular Meeting City Manager Department The City Manager requests that the City Commission receive a Fiscal Year 2019 Budget Presentation, and consider approval of Resolution 2018-12 computing the Proposed Operating Millage Rate for Fiscal Year 2018-2019 at 2.4300 mills and voted debt service millage rate at 0.0500 mills, 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 2018-2019. SYNOPSIS: Fiscal Year 2019 Budget presentation followed by Commission consideration/direction regarding the information to be communicated to the Property Appraiser on the DR -420 forms which set the proposed operating millage rate and voted debt service millage rate; establish the rolled -back rate; and set the date, time and place for the public hearing to consider the proposed millage rate and tentative budget. CONSIDERATIONS: The FY 2018 (current) millage rate consists of an operating millage rate of 2.4300 mills and a voted debt service millage rate of 0.0600 mills. The FY 2019 Proposed Budget, as transmitted by the City Manager on July 1, 2018, incorporates an operating millage rate of 2.4300 and a reduced voted debt service millage rate of 0.0500. Gross taxable value from the Property Appraiser (inclusive of new construction and annexations) as reflected on the DR -420 is $2,301,015,182. Regular 503 PAGE 1 OF 3 - July 09, 2018 This resolution will establish the millage rate cap. The final millage rate can be less than the adopted millage rate cap, but it cannot exceed the cap without increased expense to the City. This proposed millage rate will be applied to the property owners' assessed values and mailed by the Property Appraiser to each property owner in the form of the TRIM notice. The Resolution also establishes the rolled -back rate at 2.2120 mills as calculated on form DR -420. The rolled -back millage rate is that rate which produces the same amount of taxes as levied in the prior year when calculated against the current year's tax base exclusive of new construction. The proposed operating millage rate of 2.4300 is 9.86% more than the calculated rolled -back rate. The Resolution sets the date, time and place of the public hearing to consider the proposed millage rate and the tentative budget — September 10, 2018 at 5:15 P.M. at 1126 East State Road 434, Winter Springs, Florida (Commission Chambers). This meeting time cannot change once it has been reported as such on the DR - 420. FISCAL IMPACT: The Fiscal Year 2019 Budget as proposed, totals $42,019,544 (excluding transfers/appropriations to fund balance) and represents a $1,561,249 or 3.9% increase from the prior fiscal year's budget of $40,458,295. Total proposed General Fund spending of $18,282,252 represents a $713,089 increase over the prior fiscal year. The proposed operating millage rate of 2.43 mills remains unchanged from the prior fiscal year and the proposed voted debt service millage rate of 0.05 mills is 0.01 mills lower than the prior fiscal year. The millage rates which have been programmed into the FY 2019 Proposed Budget are sufficient to fund the proposed budget as transmitted by the City Manager on July 1, 2018 barring any unforeseen endogenous or exogenous economic impacts. COMMUNICATION EFFORTS: This Agenda Item has been electronically forwarded to the Mayor and City Commission, City Manager, City Attorney/Staff, and is available on the City's Website, LaserFiche, and the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the respective Meeting Agenda which has also been electronically forwarded to the individuals noted above, and which is also available on the City's Website, LaserFiche, and the City's Server; has been sent to applicable City Staff, Media/Press Representatives who have requested Agendas/Agenda Item information, Homeowner's Associations/Representatives on file with the City, and all individuals who have requested such information. This information has also been posted outside City Hall, posted inside City Hall with additional copies available for the General Public, and posted at six (6) different locations around the Regular 503 PAGE 2 OF 3 - July 09, 2018 FY18 FY19 Adopted Proposed Change Operating Millage 2.4300 2.4300 0.0000 Voted Debt Millage 0.0600 0.0500 0.0100 Total Millage 2.4900 2.4800 (0.0100) This resolution will establish the millage rate cap. The final millage rate can be less than the adopted millage rate cap, but it cannot exceed the cap without increased expense to the City. This proposed millage rate will be applied to the property owners' assessed values and mailed by the Property Appraiser to each property owner in the form of the TRIM notice. The Resolution also establishes the rolled -back rate at 2.2120 mills as calculated on form DR -420. The rolled -back millage rate is that rate which produces the same amount of taxes as levied in the prior year when calculated against the current year's tax base exclusive of new construction. The proposed operating millage rate of 2.4300 is 9.86% more than the calculated rolled -back rate. The Resolution sets the date, time and place of the public hearing to consider the proposed millage rate and the tentative budget — September 10, 2018 at 5:15 P.M. at 1126 East State Road 434, Winter Springs, Florida (Commission Chambers). This meeting time cannot change once it has been reported as such on the DR - 420. FISCAL IMPACT: The Fiscal Year 2019 Budget as proposed, totals $42,019,544 (excluding transfers/appropriations to fund balance) and represents a $1,561,249 or 3.9% increase from the prior fiscal year's budget of $40,458,295. Total proposed General Fund spending of $18,282,252 represents a $713,089 increase over the prior fiscal year. The proposed operating millage rate of 2.43 mills remains unchanged from the prior fiscal year and the proposed voted debt service millage rate of 0.05 mills is 0.01 mills lower than the prior fiscal year. The millage rates which have been programmed into the FY 2019 Proposed Budget are sufficient to fund the proposed budget as transmitted by the City Manager on July 1, 2018 barring any unforeseen endogenous or exogenous economic impacts. COMMUNICATION EFFORTS: This Agenda Item has been electronically forwarded to the Mayor and City Commission, City Manager, City Attorney/Staff, and is available on the City's Website, LaserFiche, and the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the respective Meeting Agenda which has also been electronically forwarded to the individuals noted above, and which is also available on the City's Website, LaserFiche, and the City's Server; has been sent to applicable City Staff, Media/Press Representatives who have requested Agendas/Agenda Item information, Homeowner's Associations/Representatives on file with the City, and all individuals who have requested such information. This information has also been posted outside City Hall, posted inside City Hall with additional copies available for the General Public, and posted at six (6) different locations around the Regular 503 PAGE 2 OF 3 - July 09, 2018 City. Furthermore, this information is also available to any individual requestors. City Staff is always willing to discuss this Agenda Item or any Agenda Item with any interested individuals. The budget calendar has been on the City's website since its approval in March and the FY 2019 Proposed Budget has been published on the City's website. Notice of the 2019 budget workshop was advertised in the July newsletter. The Property Appraiser will mail each property owner a TRIM notice prior to the first Public Hearing (Sept 10th) and the final Public Hearing will be advertised in the Orlando Sentinel in compliance with and according to Florida statutes. RECOMMENDATION: Staff recommends that the Commission take the following actions: . Receive and consider the information presented in the FY 2019 Proposed Budget. . Adopt Resolution 2018-12 setting the proposed operating millage rate at 2.4300 mills, establishing the rolled -back rate at 2.2120 mills, and setting the proposed voted debt service millage rate at 0.0500 mills for a total proposed millage rate of 2.4800 mills; and establishing the date, time and place for a public hearing regarding the proposed millage rate and the tentative budget as September 10, 2018 at 5:15 P.M. at 1126 East State Road 434, Winter Springs, Florida (Commission Chambers). ATTACHMENTS: Resolution 2018-12 Regular 503 PAGE 3 OF 3 - July 09, 2018 x..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v..v.t Attachment A RESOLUTION NUMBER 2018-12 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, ESTABLISHING THE ROLLED -BACK RATE; COMPUTING A PROPOSED MIL,LAGE RATE (CAP); AND SETTING THE DATE, TIME AND PLACE OF A PUBLIC HEARING TO CONSIDER THE PROPOSED MILLAGE RATE AND TENTATIVE BUDGET FOR FISCAL YEAR 2018-2019; 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; and WHEREAS, the City Commission of the City of Winter Springs deems that this Resolution is in the best interest 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 2018-19 is set at 2.4300 mills which is 9.86% greater than the computed aggregate rolled -back rate of 2.2120 mills. In addition, the proposed millage rate for the City of Winter Springs for voted debt service is 0.0500 mills. Section 3. Public Hearing. 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 10, 2018 at 5:15 P.M. to consider the adoption of the proposed millage rate and the tentative budget for Fiscal Year 2018-2019. City of Winter Springs, Florida Resolution 2018-12 Page 1 of 2 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 Commission meeting assembled on the 9th day of July, 2018. Charles Lacey, 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 City of Winter Springs, Florida Resolution 2018-12 Page 2 of 2