Okaloosa County BOCC — September 15, 2014 — CA Slides

Legal Requirements 1. Amend and adopt any changes to the tentative budget 2. Re-compute any changes to the proposed millage rate 3. Publicly announce the percent, if any, by which the re-computed millage exceeds the rolled-back rate (RBR) Ø Percentage increase in millage over rolled-back rate Taxing Authority RBR Proposed (1)(2) __%__ County 3.3244 3.4308 3.20% MSTU – Parks 0.1747 0.2990 71.15% Aggregate 3.4095 3.5729 4.79% Ø Adhere to state mandated rolled-back and percentage reduction (1) The millage rate set by the final hearing shall in no event be higher than that set at the tentative hearing. 1  Aggregate Millage Comparison (First seven lowest in State) 5.5 5.2003 5.2687 5 4.5 4.1505 4 3.948 3.8076 3.6761 3.5729 3.5 3 Okaloosa Walton Sarasota Monroe Collier Lee Bay  Aggregate Millage Comparison (By Taxable Value) 10 8.8144 9 7.8653 8 7.4538 7 6.6071 6.0953 6 5.5477 5.2687 5 4 3.6761 3.5729 3  County Debt Per Citizen (By Similar Taxable Value in FY 12) $600 $493 $500 $389 $410 $400 $366 $288 $271 $300 $200 $178 $100 $0 Indian Leon Escambia Okaloosa Bay Marion Lake River ($13.4B) ($13.5B) ($13.6B) ($13.8B) ($13.9B) ($14.7B) ($12.7B)  Total Budget (Last 10 Years-in millions) 350.0 $313.2 $310.0 $304.1 300.0 $292.3 $280.4 $279.9 $263.6 $261.6 $257.2 250.0 $238.4 200.0 150.0 100.0 50.0 0.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015  Standard & Poor's Ratings Services raised from ‘AA-‘ to 'AA' • Okaloosa County's economy strong with projected per capita effective buying income of 109% of national level • Budgetary flexibility is very strong with available, unassigned general fund reserves of $6.6 million • County levies 3.4308 millage that is well below the 5.8907 maximum they could levy • County's debt profile is very strong – Net direct debt was 30.5% of total governmental funds revenue in FY13 – Debt service was just 2% of total governmental funds expenditures – Overall debt is very low at less than 1% of estimated market value  Impact of Proposed MSTU Millage Increase (Annual Increase by Taxable Property Value) $45.00 $40.00 $41.65 $35.00 $35.70 Annual Tax Increase $30.00 $29.75 $25.00 $23.80 $20.00 $17.85 $15.00 $11.90 $10.00 $5.00 $5.95 $0.00 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 Taxable Property Value  Impact of Proposed MSTU Millage Increase (Monthly Increase by Taxable Property Value) $4.00 $3.50 $3.47 $3.00 Monthly Tax Increase $2.98 $2.50 $2.48 $2.00 $1.98 $1.50 $1.49 $1.00 $0.99 $0.50 $0.50 $0.00 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 Taxable Property Value