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Home My WebLink About2004 09 27 Public Hearings 400 FIRST ITEM OF THE EVENING COMMISSION AGENDA ITEM 400 CONSENT INFORMATIONAL PUBLIC HEARING XX REGULAR September 27,2004 Meeting MGR~\ /DEPT. k6 Authorization PUBLICLY ANNOUNCE THE REQUEST REQUEST: The City Manager is requesting that the City Commission hold a Public Hearing relative to the approval of Resolution No. 2004-45, which establishes the Pinal Operating ~illag~ Rate for Fiscal Year 2004-2005 for the City of Winter Springs at ~.30'Qg which is @gjH 6.]% above the rolled-back rate of 4.0764 and the Final Voted Debt Service Millage Rate for Fiscal Year 2004-2005 for the City of Winter Springs at .2500. PURPOSE: The purpose of this agenda item is to have the Commission approve Resolution No. 2004-45, otherwise known as the Final Millage Rates for Fiscal Year 2004-2005. CONSIDERATIONS: Relative to the adoption of a final millage rate for FY 05 the Commission has two issues to resolve as follows: 1. Funding of the City $900,000 share of the $6,959,000 hurricane restoration cost, and 2. Funding of the Urban Beautification program expansion. FUNDING OF THE CITY'S ESTIMATED $900.000 SHARE OF THE ESTIMATED $6.959.000 HURRICANE RESTORATION COST. The City's share of storm restoration is derived as follows: . Storm Cost . Less FEMNState Reimbursement Less Solid Waste Fund Payment Net Cost City Plus Contingency Total City Cost $6,959,000 ($5,800,000) ($ 353,000) $ 806,000 $ 94,000 $ 900,000 092704_ COMM _Public _ Hearing_ 400 ]inal_ Millage The cost can be funded 111 many different ways. The following are recommended for consideration. Paid From Reserves Alternative 1 Fund Balance Storm Payment Interest Payment Revised Fund Balance Utility Medical Solid Waste General Operating Transport Fund Fund Fund Services Fund $125,000 $375,000 $300,000 $100,000 $ 539,000 $4,418,000 $4,100,000 $ 202,000 125,000 375,000 300,000 100,000 -0- -0- 75,000 25,000 $ 414,000 $4,043,000 $3,725,000 $ 77,000 Versus Fund Balance Policy . Surplus (deficit) $ 408,000 $ 6,000 $ 4,031.000 $ 1.130,000 $ 12,000 $ 2,595,000 $ 26,000 $ 51,000 The advantages of this alternative are as follows: 1. No additional funding is required. 2. Fund reserves are maintained within fund balance policy levels. The disadvantages ofthis alternative are as follows: 1. Utilization of Utility Fund reserves for this purpose is a difficult case to make. 2. Utilization of Medical Transport Services Fund reserves is a difficult case to make. Paid From Reserves Alternative 2 Fund Balance Storm Payment Interest Payment Revised Fund Balance Solid Waste General Utility Fund Fund Fund $300,000 $300,000 $300,000 $539,000 $4,418,000 $4,100,000 300,000 300,000 300,000 -0- 50,000 50,000 $239,000 $4,068,000 $3,750,000 Versus Fund Balance Policy Surplus (deficit) $408,000 ($169,000) $4,031,000 $ 37,000 $1,130,000 $2,620,000 092704_COMM]ublic_Hearing_ 400]inal_ Millage. The advantage of this alternative is that no additional funding would be required to pay for storm restoration. The disadvantages of this alternative are as follows: a) . Utilization of Utility Fund reserves for this purpose is a difficult case to make. b) Reduction of the Solid Waste Fund balance below the fund balance policy IS unadvisable. c) Additional storms and an economic down turn could result in a very difficult financial dilemma. d) To be in compliance with fund balance policy reserves would have to be raised to restore fund balance policy levels within 12-months. Paid From Reserves Alternative 3 Solid Waste Fund $450,000 General Fund $450,000 Fund Balance Storm Payment Interest Payment Revised Fund Balance $539,000 450,000 50,000 $ 39,000 $4,418,000 450,000 50,000 $3,918,000 Versus Fund Balance Policy Surplus (deficit) $408,000 ($369,000) $4,030,000 ($112,000) The advantage of this alternative is that no additional funding would be required to pay for storm restoration. The disadvantages ofthis alternative are as follows: a) Reserves in the Solid Waste and General funds would be depleted below prudent levels. b) To be in compliance with fund balance policy reserves would have to be raised to restore fund balance policy levels within 12-months. c) Additional storms and an economic down turn could result in a very difficult financial dilemma. 092704_ COMM ]ublic _ Hearing_ 400 ]inal_ Millage Fundin!!: the estimated $900.000 Citv.share from a one-year .7022 special tax levv. The advantages of this alternative are as follows: a) Fund balances are not depleted beyond prudent levels. b) People understand the connection between the cost of storm restoration and the increase in taxes. c) The tax levy is tax deductible from Federal taxes. d) Relieves the burden of future year interest payments. Fundin!!: the estimated $900.000 share from a multi-year loan paid by a special tax levv. The options are as follows: 2-year 3-year 5-year FY05 .3818 mills FY05 .2695 mills FY05 .1923 mills The advantages ofthis alternative are as follows: a) The millage impact could be spread over time. b) .Fund balances are not depleted beyond prudent levels. c) People understand the connection between the cost of storm restoration and the increase in taxes. d) The tax levy is tax deductible from Federal taxes. FUNDING EXPENSES FOR THE URBAN BEAUTIFICATION COORDINATION PROGRAM The $45,000 increase in the Urban Beautification Program can be funded in two ways as follows: 1. Raising the millage by .0319. 2. Reduction of General Fund reserves by $45,000. If the Commission chose to raise the. millage to fund combined storm restoration and the Expanded Urban Beautification program, the combined millage in FY05 would be as follows: Storm Urban Restoration Beautification Total I-year levy option .7022 .0319 .7341 2-year levY option .3818 .0319 .4137 3-year levy option .2695 .0319 .3014 5-year levy option .1923 .0319 .2242 092704_COMM]ublic_HearinL 400]inal_ Millage RECOMMENDATION: It is recommended that the Commission choose the preferred options for funding storm restoration and expansion of the Urban Beautification Programs. Staff preferences are indicated by asterisks. IA. Storm Restoration Millage Increase a) No Tax Increase Alternative 1 b) No Tax Increase Alternative 2 c) No Tax Increase Alternative 3 * d) One-Year Tax Increase e) Two-Year Tax Increase f) Three- Year Tax Increase g) Five-Year Tax Increase 0.0000 0.0000 0.0000 0.7022 0.3818 0.2695 0.1923 . lB. Urban Beautification Program Expansion a) Do Not Authorize b) Fund from General Fund Reserves * c) Fund from Tax Increase 0.0000 0.0000 0.0319 Please announce a ten minute recess to calculate millage and roll-back consequences. II. The Commission adopt Resolution No. 2004-45 establishing the Final Operating Millage for Fiscal Year 2004-2005, the Final Voted Debt Service Millage Rate at .2500 for Fiscal Year 2004-2005, and publicly announce the percentage by which the final operating millage rate exceeds the rolled-back rate. IMPLEMENT A TION SCHEDULE: Upon approval and adoption of Resolution No. 2004-45, the Millage Rates for Fiscal Year 2004- 2005 would be implemented and become effective on October 1, 2004. A TT ACHMENTS: · Resolution No. 2004-45 COMMISSION ACTION: TEN MINUTE RECESS BEFORE CONSIDERATION OF AGENDA ITEM 401 092704_COMM]ublic_Hearing_ 400]inat Millage RESOLUTION NO. 2004-45 A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA, ADOPTING THE FINAL OPERATING MILLAGE RATE AND THE FINAL VOTED DEBT SERVICE MILLAGE RATE FOR THE CITY OF WINTER SPRINGS FOR THE FISCAL YEAR COMMENCING ON OCTOBER 1, 2004 AND ENDING ON SEPTEMBER 30, 2005; ANNOUNCING THE PERCENTAGE BY WHICH THE FINAL OPERATING MILLAGE RATE EXCEEDS THE ROLLED-BACK RATE; PROVIDING FOR SEVERABILITY; PROVIDING FOR REPEAL OF PRIOR INCONSISTENT RESOLUTIONS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission of Winter Springs has held a public hearing on the final millage rate pursuant to Florida Statute 200.065, Subparagraph (c); WHEREAS, the City Commission of Winter Springs desires to adopt the final operating millage rate and publicly announce their percentage change by which the final operating millage rate exceeds the rolled-back rate, and adopt the final voted debt service 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. The City Commission adopts its final operating millage rate of :5.3000: mills and its final voted debt service millage rate of .2500 for the fiscal year commencing October 1, 2004 and ending September 30,2005. Section 3. The final operating millage rate of ~30()0, mills is more than the computed rolled-back rate of 4.0764 by ~O~0161J%. Section 4. Within three (3) days of the date of this Resolution, the Finance Director shall forward the Resolution adopting the final millage rate to the Seminole County Property Appraiser and the Seminole County Tax Collector. 092704_COMM_Public_Hearing_ 400_Attachment_1 Section 5. Within thirty (30) days of the date of this Resolution, the Finance Director shall certify compliance with Chapter 200, Florida Statutes by causing the Certification of Compliance, along with all necessary documentation, to be sent to the Division of Ad Valorem Tax of the Department of Revenue. Section 6. 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 7. 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 8. 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 this 2ih day of September, 2004. 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 092704_COMM_Public_Hearing_ 400_Attachment_1 Date: 092704 The following Document was provided on 09/27/04 during Public Hearings "400" Millage Comparisons Final FY 2004 lake Mary 3.9998 Winter Springs 4.3000 * longwood 4.6700 Casselberry 5.0000 + Altamonte Springs 5.2994 + Oviedo 5.3350 * Sanford 6.4750 FY 2005 3.9998 final 4.9900 final 5.0000 (as of 9/7) 5.5334 (as of 9/7) 5.3350 6.3500 final * Operating millage only, does not include voted debt service + Both Casselberry and Altamonte Springs did not respond to our survey. These figures are based on last year's pr9Posed millages. Date: 092704 The following Document was distributed by Michelle Greco on 09/27/04 during the (first) break held during Public Hearings "400" ~c 3 DO 0 -v\M~ r:;, ~~<;3Io~~ ~ ~-~. ~~ ~ ~ oN 'I ~ 71-'5 AJ-r-~~ vJ tVL-- ~~ . ~ ~ l(?~~ td -=- ~ 1t4J -- h-.J^-. ~ ~_. ; RESOLUTION NO. 2004-45 A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA, ADOPTING THE FINAL OPERATING MILLAGE RATE AND THE FINAL VOTED DEBT SERVICE MILLAGE RATE FOR THE CITY OF WINTER SPRINGS FOR THE FISCAL YEAR COMMENCING ON OCTOBER 1, 2004 AND ENDING ON SEPTEMBER 30, 2005; ANNOUNCING THE PERCENTAGE BY WHICH THE FINAL OPERATING MILLAGE RATE EXCEEDS THE ROLLED-BACK RATE; PROVIDING FOR SEVERABILITY; PROVIDING FOR REPEAL OF PRIOR INCONSISTENT RESOLUTIONS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission of Winter Springs has held a public hearing on the final millage rate pursuant to Florida Statute 200.065, Subparagraph (c); WHEREAS, the City Commission of Winter Springs desires to adopt the final operating millage rate and publicly announce their percentage change py which the final operating millage rate exceeds the rolled-back rate, and adopt the final voted debt service 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. The City Commission adopts its final operating millage rate of 4.3000 mills and its final voted debt service millage rate of .2500 for the fiscal year commencing October 1,2004 and ending September 30,2005. Section 3. The final operating millage rate of 4.3000 mills is more than the computed rolled-back rate of 4.0764 by 5.4853%. Section 4. Within three (3) days of the date of this Resolution, the Finance Director shall forward the Resolution adopting the final millage rate to the Seminole County Property Appraiser and the Seminole CQunty Tax Collector. 092704_COMM_Public_Hearing_ 400_Attachment_1 ;' Section 5. Within thirty (30) days of the date of this Resolution, the Finance Director shall certify compliance with Chapter 200, Florida Statutes by causing the Certification of Compliance, along with all necessary documentation, to be sent to the Division of Ad Valorem Tax of the Department of Revenue. Section 6. 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 7. 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 8. 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 this 27th day of September, 2004. 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 092704_COMM_Public_Hearing_ 400_Attachment_1