Fort Walton Beach — Fiscal Year 2022-23 Adopted Budget — reading text

- - - - 1950-554-5270 Mental Health Association 16,500 100.00% - 30,663 - - 1950-554-6300 Improvements Other than Building - 0.00% 50,525 63,663 - 64,600 Total Capital Improvements 56,500 -12.54% $ 138,343 $ 169,874 $ 296,872 $ 168,866 TOTAL FUND EXPENSES $ 142,827 -15.42% $ (3,030) $ 4,817 $ (2,300) $ - NET REVENUE / (EXPENSE) $ - 0.00% 128 107 - CDBG 8/28/2022 1:30 PM COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) Share of City Budget $142,827, 0.3% DESCRIPTION The Community Development Block Grant provides Federal funding for housing and community development needs for low and moderate income areas. MISSION Administer the Community Development Block Grant (CDBG) program in accordance with all Federal regulations. Actual YTD thru 03/31 Budget CURRENT GOALS, OBJECTIVES, & METRICS (FY23) 2018-19 2019-20 2020-21 2021-22 2021-22 2022-23 Eliminate Influences of Blight in Target Areas Nuisances Abated in Target Area 2 6 0 2 1 1 Improve Safety and Livability of Neighborhoods Capital Improvements Completed in Target Area 3 0 0 0 0 2 Provide Access to Quality Public and Private Services Summer Youth Program 4 0 4 1 5 2 After School Program Participants 0 0 4 0 5 2 Disburse Grant Funds in Timely Fashion Grant Funds Spent in Same Year Awarded 90% 90% 90% annual 100% 100% FUTURE GOALS (FY24 & FY25)  Spend all grant funds in same year awarded.  Increase access to quality public facilities and neighborhood livability by completing nuisance abatment projects.  Increase contractors particpation and use in "Neighborly"software. PRIOR YEAR ACCOMPLISHMENTS (FY22)  Improved neighborhood liveability by eliminating blighted conditions on targeted areas by completeing two nuisance abatement projects. 129  Community Redevelopment Agency Fund The Community Redevelopment Agency (CRA) Fund encompasses 7.52% 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 additional areas. 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 $4,500,000 Budget. $4,000,000 ……2022-23 $ Change % Change $3,500,000 Ad Valorem Taxes 1,510,607 92,631 6.1% $3,000,000 Intergov’t Revenue 1,157,390 138,124 11.9% $2,500,000 Interest & Other 1,600,000 1,600,000 100% $2,000,000 Approp. from Reserves 0 0 0% $1,500,000 $4,267,997 1,830,755 42.9% $1,000,000 $500,000 $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations  The budget is predicated on the lowered millage rate of 4.9999 mills for the City’s portion of the TIF. One mill equals $144.6 per $1,000 of taxable property value. Expenditure Highlights $4,500,000 $4,000,000 Budget. $3,500,000 2022-23 …… $ Change % Change $3,000,000 Personal Services 521,065 53,165 10.2% $2,500,000 Operations & Maintenance 2,168,166 1,667,976 76.9% $2,000,000 Replenish Reserves 952,056 65,500 6.9% $1,500,000 Interfund Transfer 169,210 (16,886) (10.0)% $1,000,000 Capital Outlay/Imprvmt 457,500 61,000 13.3% $500,000 0 $4,267,997 1,830,755 42.9% $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers Replenish Reserves  Increases in Operational expenses are primarily due to the Landing Improvements Grant.  The increase is primarily due to Liza Jackson Park design and Heritage Park & Cultural Center addition. 130  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change 865,478 983,485 973,811 1,037,888 2000-311-1000 Ad Valorem Taxes - City Original TIF 1,090,586 5.08% 274,323 369,491 377,181 380,088 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 420,021 10.51% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 Total Ad Valorem Taxes $ 1,510,607 6.53% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 TOTAL TAXES $ 1,510,607 6.53% 572,263 713,061 693,972 746,053 2000-338-2000 Ad Valorem Taxes - County Original TIF 835,580 12.00% 181,739 303,492 275,249 273,214 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 321,810 17.79% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 Total Local Shared Revenues $ 1,157,390 13.55% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 TOTAL INTERGOVERNMENTAL REVENUE $ 1,157,390 13.55% 18,648 36,946 32,766 - 1500-361-1000 Interest Income - 0.00% $ 18,648 $ 36,946 $ 32,766 $ - Total Interest Income $ - 0.00% 21,300 36,701 51,038 - 2000-362-1000 Rental and Lease Income R - 0.00% $ 21,300 $ 36,701 $ 51,038 $ - Total Rents and Royalties $ - 0.00% - - 24,585 - 1500-369-9000 Miscellaneous Revenue - 0.00% $ - $ 24,585 $ - Total Other Revenues $ - 0.00% $ - $ - $ - $ - Deparment of Envrionmental Protection Grant 1,600,000 100.00%