Fort Walton Beach — Fiscal Year 2017 to 2018 CRA Budget

&RPPXQLW\5HGHYHORSPHQW$JHQF\)XQG The Community Redevelopment Agency (CRA) Fund encompasses 4.5% of the City’s activities and services and accounts for funding derived from City of Fort Walton Beach and Okaloosa County Tax Increment Funding (TIF) – proceeds from increases in the taxable assessed value of the CRA District. The original CRA area was formed in 1980, with that being the base year for the purpose of determining the growth in assessed taxable value. In 2019, the CRA area was expanded to include an additional area. The TIF is determined by the growth in the assessed value of taxable property located in the CRA district from the base year to the current tax year and is multiplied by the current tax rate for the City and County. Expenditures in the CRA area target eliminating blight in residential and commercial areas. Revenue Highlights $2,500,000 Budget. 2019-20 …… $ Change % Change $2,000,000 Ad Valorem Taxes 1,352,976 213,175 18.7% $1,500,000 Intergov’t Revenue 830,701 109,794 15.2% Interest & Other 32,457 0 0% $1,000,000 Approp. from Reserves 0 0 0% $2,216,134 $322,969 17.1% $500,000 $0 Actual Actual Actual Budget Budget 2015-16 2016-17 2017-18 2018-19 2019-20 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations • The budget is predicated on reducing the City millage (Ad Valorem) rate to the rolled-back rate of 5.6395 mills. One mill equals $1 per $1,000 of taxable property value. • County Ad Valorem tax proceeds are accounted for as intergovernmental revenues. The County’s millage rate is 3.8308 mills. Expenditure Highlights $2,500,000 Budget. $2,000,000 ……2019-20 $ Change % Change Personal Services 426,406 59,411 16.2% $1,500,000 Operations & Maintenance 386,159 59,205 18.1% Replenish Reserves 960,398 (64,483) (6.3)% $1,000,000 Interfund Transfer 178,171 3,836 2.2% $500,000 Capital Outlay/Imprvmt 265,000 265,000 100.0% 0 $2,216,134 $322,969 17.1% $0 Actual Actual Actual Budget Budget 2015-16 2016-17 2017-18 2018-19 2019-20 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers Replenish Reserves • The increase in personal services and operating expenses is due to pay and classification changes related to internal equity and compression, as well as an increase is the City covered portion of employee insurance. • The increase in capital outlay is due to newly planned projects, specifically full renovation of the Landing. 123  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2018-19 2019-20 % 2015-16 2016-17 2017-18 Adopted Adopted Change 787,039 802,377 837,841 865,478 2000-311-1000 Ad Valorem Taxes - City Original TIF 983,485 13.63% 230,503 234,074 252,373 274,323 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 369,491 34.69% $ 1,017,542 $ 1,036,451 $ 1,090,214 $ 1,139,801 Total Ad Valorem Taxes $ 1,352,976 18.70% $ 1,017,542 $ 1,036,451 $ 1,090,214 $ 1,139,801 TOTAL TAXES $ 1,352,976 18.70% 468,029 476,794 553,733 553,733 2000-338-2000 Ad Valorem Taxes - County Original TIF 603,841 9.05% 142,868 136,344 167,174 167,174 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 226,860 35.70% $ 610,897 $ 613,139 $ 720,907 $ 720,907 Total Local Shared Revenues $ 830,701 15.23% - - - - Prior Years Grants - 0.00% $ - $ - $ - $ - Total Grants $ - 0.00% $ 610,897 $ 613,139 $ 720,907 $ 720,907 TOTAL INTERGOVERNMENTAL REVENUE $ 830,701 15.23% 24,938 27,428 33,831 32,457 1500-361-1000 Interest Income 32,457 0.00% - - - - 1500-361-3000 Unrealized Gain/(Loss) - 0.00% - - - - 1500-361-4000 Realized Gain/(Loss) - 0.00% $ 24,938 $ 27,428 $ 33,831 $ 32,457 Total Interest Income $ 32,457 0.00% 12,000 - 1500-362-1000 Rental and Lease Income - 0.00% $ 12,000 $ - $ - $ - Total Rents and Royalties $ - 0.00% - - - - 1500-364-1000 Gain/Loss on Fixed Assets - 0.00% - - - - 1500-369-9000 Miscellaneous Revenue - 0.00% - - - - 2000-345-9019 Other Economic Env. Changes - 0.00% $ - $ - $ - $ - Total Other Revenues $ - 0.00% $ 36,938 $ 27,428 $ 33,831 $ 32,457 TOTAL INTEREST & OTHER REVENUES $ 32,457 0.00% - - - - 1600-389-9100 Appropriation from Fund Balance - 0.00% $ - $ - $ - $ - Total Non-Operating Sources $ - 0.00% $ - $ - $ - $ - TOTAL TRANSFERS IN $ - 0.00% $ 1,665,377 $ 1,677,018 $ 1,844,952 $ 1,893,165 TOTAL FUND REVENUES $ 2,216,134 17.06% 109-Revenues 9/19/2019 10:27 AM 124  109 CRA FUND - 2000 CRA Actual Budget 2018-19 2019-20 % 2015-16 2016-17 2017-18 Adopted Adopted Change Personal Services: 3.00 2.00 2.00 5.00 Number of Employees (FTE's) 5.00 43,237 24,319 - 194,090 552-1200 Regular Salaries 227,086 17.00% - 10,834 552-1202 Incentive Pay 24,022 121.73% 258 27 - 9,481 552-1400 Salaries - Overtime 9,481 0.00% - - - 8,146 552-1401 Salaries - Overtime Holiday Worked 8,146 0.00% - 1,685 552-1501 Incentive - -100.00% 2,359 1,454 - 11,914 552-2100 FICA Taxes 13,853 16.28% 552 340 - 2,786 552-2101 Medicare 3,314 18.95% - 71,259 552-2201 Retirement Contributions - Police Officers 90,233 26.63% 382 194 - - 552-2204 Retirement Contributions - DC Plan - 0.00% 9,400 2,629 - 49,650 552-2300 Dental, Life & Health Insurance 41,611 -16.19% 1,229 752 - 7,150 552-2400 Worker's Compensation 8,660 21.12% 11,581 7,729 - - 552-1291 Salary Allocation Reimb to General Fund - 0.00% $ 68,997 $ 37,444 $ - $ 366,995 Total Personal Services $ 426,406 100.00% Operating Expenses: 91,942 225,862 159,352 - 552-3100 Professional Services - 0.00% 3,682 - - - 552-3101 Legal Services - 0.00% 169,739 169,527 331,365 159,265 552-3400 Other Services 216,744 36.09% 906 10,589 1,100 - 552-3450 Other Services - Grounds Maintenance - 0.00% 1,609 890 (2) 1,200 552-4000 Travel and Per Diem 1,200 0.00% 1,959 1,870 264 - 552-4100 Communication Services - 0.00% - - - 700 552-4200 Postage 700 0.00% 125,274 118,689 127,016 107,324 552-4300 Utilities 107,324 0.00% 4,974 3,030 2,350 - 552-4400 Rentals & Leases - 0.00% - 825 - - 552-4610 Maintenance Contracts 1,726 100.00% 243 669 519 - 552-4620 Vehicle Repair - 0.00% 777 574 922 - 552-4630 Equipment Repair - 0.00% 40,444 36 - - 552-4640 Building Maintenance - 0.00% 280 - - 5,000 552-4800 Promotional Activities 5,000 0.00% - - - - 552-4911 Holiday Gift Certificates - 0.00% 786 575 802 - 552-4915 Legal Advertising - 0.00% - - - - 552-5100 Office Supplies - 0.00% 11,493 2,163 84 - 552-5200 Operating Supplies - 0.00% 1,728 1,881 1,436 - 552-5204 Fuel & Oil - 0.00% 130 115 - - 552-5210 Uniform Expense - 0.00% - - - - 552-5231 Computer Hardware/Software - 0.00% 1,154 1,750 - - 552-5233 Tools - 0.00% 135 80 - - 552-5234 Safety Supplies/Equipment - 0.00% 28,937 19,850 31,459 - 552-5250 Operating Supplies - Grounds Maintenance - 0.00% - - 109 - 552-5300 Road Materials & Supplies - 0.00% 1,600 1,450 1,440 2,415 552-5400 Dues & Publications 2,415 0.00% 790 - 444 1,050 552-5500 Training 1,050 0.00% Non-Operating: 563,362 - 72,626 50,000 552-8200 Grants and Aids 50,000 0.00% $ 1,051,941 $ 560,425 $ 731,286 $ 326,954 Total Operating Expenditures $ 386,159 18.11% Capital Outlay: - - 681,042 - 552-6214 Improvements Buildings - 0.00% 364,159 9,774 18,930 - 552-6310 Improvements Other Than Buildings 265,000 100.00% $ 364,159 $ 9,774 $ 699,972 $ - Total Capital Outlay $ 265,000 0.00% 109-2000-CRA 9/23/2019 1:48 PM 125 126