Fort Walton Beach Ordinance — 1740 Adopt Budget FY07-08 — reading text

502, 253 686,662 441,405 245, 257) - 35. 72% Capital Projects Fund 447,548 20, 995 73.990 126, 500 126, 500) - 100. 00% Utilities Fund 6. 116. 369 6, 808, 102 7, 313, 798 7,586, 347 8, 097.229 510, 882 6. 73% Sanitation Fund 3, 307, 023 3,378, 364 3, 541. 535 4, 168, 179 3, 922, 132 246,047) - 5. 90% Golf Fund 2,297, 672 2, 338, 201 3, 096, 163 3, 350, 202 2, 540, 022 810, 180) - 24. 18% ! >> Beal Memorial Fund 62,489 68, 259 106, 861 69, 375 69, 375 0. 00% \ ""- . Revenues 31, 694,993 37,590, 829 35, 540, 052 37. 634, 154 36, 610, 668 1, 023,486) - 2. 72% Revenues by Category 40 35 30 25 c 20 15 10 5 0 Actual Actual Actual Budget Budget 2003- 04 2004- 05 2005- 06 2006-07 2007-08 iliAd Valorem Taxes IJ Other Taxes IJ Ucenses & Permits IJ Intergov't Revenue EI Charges for Services IS Fines & Forfeitures Interest & Other IJOther Financing Sources Fund Balance I Net Assets Actual Actual Actual Budget Budget 2003- 04 2004. 05 2005- 06 2006-07 2007- 08 Variance Variance Ad Valorem Taxes 4, 166, 452 4,421, 852 5,303, 877 6,019, 184 5, 926, 619 92, 565) - 1. 54% other Taxes 5, 340,383 5, 957,840 6, 544,881 6, 330, 000 5, 518,070 811, 930) - 12. 83% licenses & Permits 358, 675 706, 345 517,728 440, 560 430,810 9, 750) - 2. 21 % Intergov't Revenue 5, 169, 428 6. 261, 886 3, 848, 935 3, 386, 288 2, 896,778 489, 510) - 14.46% Charges for Services 12,303, 618 12,519, 003 13, 163, 423 14. 437,472 13, 800,466 637,006) - 4.41% Fines & Forfeitures 305, 850 451, 958 392, 709 356, 550 274, 100 82,450) - 23. 12% Interest & Other 1, 009, 473 2, 083, 637 2, 188, 087 1. 553, 176 1, 568, 161 14,985 0. 96% Other Financing Sources 3,041. 112 5, 188, 308 3, 580,407 3, 620, 708 4,532, 359 911, 651 25. 18% Fund Balance I Net Assets 1,490, 216 1, 663, 305 173, 089 11. 62% Revenues 31, 694,993 37,590, 829 35,540, 052 37, 634, 154 36, 610, 668 1, 023,486) - 2. 72% 38-  Revenues FY 2007- 08 Budgeted Revenues 36, 610, 668 State Revenue Recreation Fees Sharing, Intergov' t, 1. 1 % Fines, Forfeitures, etc. Other Fees 7. 9% 2.5% Ad Valorem Taxes 16. 1% Interfund Transfers 12. 3% Charqes for Services ( User Fees) - The City levies user fees to fund the cost of providing a service or facility. Charges for services are regulating an activity or million in FY 2007- 08 and are the anticipated to generate approximately $ 13. 8 largest source of revenue for the City at 37.5%. Unlik~ service charges are taxes, these directly related to the service received. User fees include leisure recreation programs, senior center, services such as library, museum, and golf; water and sewer service; and collection. Fees are set garbage by City Council based on the cost of adjusted annually as part of the budget process, and providing these services, reviewed and published in the Comprehensive Fee Schedule. 15 Water and sewer rates - $ 7. 0M or 19. 1% of total revenues - will increase 4% 12 on October 1 in accordance with the five- year plan adopted in April 9 2005 in conjunction with the c: Utility Bond issuance. Garbage fees account for $ 3.4M or 9.3%. of total 6 revenues. Sanitation rates, which have not increased since 1995 for residential and 3 commercial garbage (in fact, they were reduced by $ 1. 00 per month for 0 residential customers in May 2001 resulting from 2003- 04 2004- 05 2005- 06 decreased tipping fees !'It the transfer station), Budget Budget are 2006- 07 2007- 08 proposed to increase 3% effective October 1. Factors Ii Recreation CWater/Sewer J Garbage/ Recycling . Other contributing to the increase include: labor and fuel costs, higher tipping fees due to and a tipping fee rate increase increasing tonnage, with BFI Waste Services. The per the City's cpntract recycling fee will be eliminated since the program is Golf club fee$ account for $ 2.4M or 6. 6% of total being discontinued. revenues. City Council opted not to incn~ase rates effective June 1, 2007 as scheduled. Play is down 18% or 15, 000 rounds compared to the the Golf Club Administrator has prior year and proposed several alternative rate plans to return 90,000 round range. Building permitting and play to thelow-to- mid- cost of inspection fees have been increased to reflect the actual performing these activities. . All proposed fee Comprehensive Fee Schedule effective October 1, 2007 for changes are included in the proposed City Council consideration. Ad Valorem ( Property) Ad valorem taxes levied revenues and contribute to 25% Taxes...,.. by the City comprise $ 5. 9M or 16. 1 % of total of General Fund revenues and 55% of Agency ( CRA) Fund revenues. The balance. of CRA ad Community Redevelopment 799K or 2. 2% of total revenues) valorem revenues comes from the Cou' and is equal to the nty value from the base County's millage rate times the growth in .assessed year ( year of CRA designation).