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HomeMy WebLinkAbout1997 09 10 Regular Item A COMMISSION AGENDA ITEM A REGULAR xx CONSENT INFORMATIONAL September 10, 1997 Meeting MGR al/V'/bEPT. , Authorization REQUEST: The City Manager is requesting the City Commission hold a Public Hearing relative to the approval of Ordinance No. 677, establishing the Tentative Budget for Fiscal Year 1997-1998. PURPOSE: The purpose of this agenda item is to have the Commission approve the first reading of Ordinance No. 677, otherwise known as the Tentative Budget for Fiscal Year 1997- 1998. CONSIDERATIONS: j"'~~~~' The Tentative 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. The complete budget will be available Monday, September 8, 1997. RECOMMENDATION: 1. The Commission make any amendments it deems necessary to the Tentative Budget. 2. Adopt the First 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: 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 of 3.5019 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$184,1 14. GENERAL FUND DEPARTMENTAL EXPENDITURES: Since the Workshops that were held in June, 1997 a re-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.