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Home My WebLink About2007 09 24 Referenced by Mayor Bush Date: September 24, 2007 The attached document was referenced by Mayor John F. Bush during the September 24, 2007 City Commission Workshop. CITY OF WINTER SPRINGS, FLORIDA 1126 East State Road 434 JP'il1ter Springs, Florida 32708 Telephone: 407-327-5957-Facsimile: 407-327-6686 ROlrold If. McLemore City Manager MEMORANDUM TO: Mayor and Commission Ronald W. McLemore, City Manager r FROM: DATE: September 2 t, 2007 SUBJ: FY 08 Budget Below are seven updated options for the Commission to consider for budget adoption. This represents an update of revenue and expense proje.ctions, and previous Commission discussions. There are three fire assessment options, two no fire fee assessment options, and one hybrid combination of fire assessments and override of the 9% statutory reduction. In deciding an option it is suggested that the Commission first decide if it desires to utilize the fire assessment fee to offset property tax reductions or the unanimous override to mitigate the Statutory Tax Reduction, or a hybrid option using a combination of overrides and fire assessment fees. If you choose to utilize the fire assessment then you need to choose the option with which you are most comfortable. If YOll choose not to utilize the fire assessment you need to choose the override option with which YOll are most comfortable. If you choose the hybrid option, you need to decide if you wish to fund the purchase of a fire truck. FY 08 Fire Assessment Options Page I of 4 FIRE ASSESSMENT OPTIONS Fire Assessment A: This option is consistent with the previous information given to the Commission. The full amount is neulraI. It does not include assessments for purchase of a fire truck. This option would result in a General Fund surplus of $345.654, which the Commission could designate for other priorities. Fire Assessment B: This option includes partial funding of a fire truck from assessments. The full amount is revenue neutral resulting in the millage being slightly less and a sharp decline in surplus General Fund dollars to $178,251 that would be available for other priorities. Fire Assessment Option C: This option includes assessments to paltially fund a fire truck. It is revenue neutral for operating expenses only. The millage is not reduced for the fire truck. This option would provide $329,654 for funding additional priorities. Fire Assessment Ootions A B C Fire Assessment Revenue 2,606,000 2,758,000 2,758,000 . Expenses . Fire Operations 2,4 I 2,000 2,356.000 2.356,000 Fire Truck -0- 208,0000 208.000 Assessment Administration 194,000 194,000 194,000 Total Expenses 2,606,000 2,758,000 2,758,000 . Fire Assessment Rate 203 223 223 Reguhu. Millage 3.0696 -. 2.9986 3.0696 Vott~d Millage .1022 .1022 .1022 Total Millage 3.1718 3.1008 3.1718 General Fund Operating Surplus $345,654 $178,251 $329,654 Vote Required Simple Simple Simple Majority Majority Majority Operating Revenue Neutral Yes Yes Yes Fire Truck Neutral --- Yes No 15/--6-I\\L-P"vJl t( fbb CXV I ~IT3,0([) r I '?'3/ 00() FY 08 Fire Assessment Oplion;; Page 2 Qr 4 NO FIRE ASSESSMENT OPTIONS No Fire Assessment Option A: This option represents the General Fund millage and surplus including partial funding of a fire truck. This option provides $318,144 for additional priorities. No Fire Assessment Option B: This option represents the general Fund millage and surplus not including partial funding of a fire truck. This option would provide $463,144 in surplus revenue. No Fire Assessment A J!__ - .--- Fire Truck 185,000 -0- Fire Assessments -0- -0- Regular Millage 4.2919 4.2919 Voted Milla~e .1022 .1022 Total 4.3931 4.3931 General Fund Opera tine Surplus $318,144 $463,144 Vote Required Unanimous Unanimous FY 08 Fire Assessment Options Page 3 of 4 HYBRID FIRE ASSF.5SMENT/ST A TUTORY OVERRIDE OPTIONS Hvbrid Option A: This option utilizes a combination of statutory overrides and fire assessment fees. The statutory override would be to override the l)c,y. legislative mandated cuts only. The fire assessll1Cnt would be implemented in an amount to make up the shortfall required to balance the budget and to fund assessment administration costs. A super majority vote would bt, required. This option does not include funding for purchase of a fire truck. Hvbrid Option B: This option is the same as Combination Option A, except il docs include funding for purchase of a fire tmck. '---' Hvbrid Ootions A B -- Fire Assessment Revenue 794,000 1,002,000 Expenses Fire Truck -0- 208,000 Assessment Administration 194,000 194,000 Fire Assessmcnl Rate 62 78 ---~._..__.~._~ Regular Millage ].9]03 3.9303 Voted Millage .1022 .1022 Total Millage 4.m25 4.0325 - Gelleral r:~~nd Operating Surplus 292,051 332,051 V otl' Required Super-Majority Super-Majority n__._ -------- f)(Mt:- pO>"Jf f' [7 '2 I c::tX> 1'"'2 fb,Oc)O FY 08 Fire Assessmenl Options Page 4 of .1