Fort Walton Beach Council agenda — 06-01-2010 Special-2010/2011 Budget Policy Workshop — reading text

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In FY 2006, the City's taxable assessed value surpassed the $ 1 billion mark, increasing 19. 8% or $ 182M. Public safety wages were increased, a rapid response vehicle was purchased, and six additional firefighters hired for the ALS program. In FY 2007, the City's taxable assessed value increased 23. 3% or $ 256M. The City increased public safety wages, implemented a department -wide police officer take -home vehicle policy, purchased a fire department command vehicle, and updated the tennis center while reducing the millage rate 6. 6% from 4. 9700 to 4. 6458. In FY 2008, the millage rate was lowered for the second year in a row by 9. 6% to 4. 1986, essentially offsetting the 9. 6% increase in the City's taxable assessed value. Property tax revenues declined $ 93K that year. The City' s taxable value decreased 6. 0% in FY 2009 and the millage rate was maintained at 4. 1986, which resulted in $ 410K less revenue. Several positions were eliminated and wages frozen to address the decrease in the General Fund's primary revenue source. In FY 2010 the City's taxable value decreased 4. 8% and the millage rate was maintained at 4. 1986, resulting in $ 286K less revenue. Twenty -nine positions were eliminated and hours reduced for another 10 positions. 1, 200 6 1, 000 5 Z; $ 800 4 E a) R E 600 3 a a X a cc 400 2 200 1 0 0 2001 -02 2002 -03 2003 -04 2004 -05 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 Budget Estimate Non -CRA Taxable Value CRA Taxable Value General Fund Revenue °- 4-- - CRA Fund Revenue The impact of declining home prices and a soft real estate market on next year' s budget won' t be known until the Property Appraiser certifies the City's preliminary taxable assessed value on July 1. However, preliminary information indicates a 5. 5% decrease in General Fund ad valorem revenues and a 10. 5% decrease in CRA Fund ad valorem revenues. User Fees — The City levies user fees to fund the 15 cost of regulating an activity or providing a service or 12 facility and these are the largest source of revenue for the City. Unlike taxes, these service charges are 9 directly related to the service received. User fees o include leisure 6 services such as recreation E programs, senior center, library, museum, and golf; 3 development activities such as building permits; and infrastructure such as water, sewer, and stormwater. 0 Fees are set by City Council based on the cost of 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 providing these services, reviewed and adjusted Recreation Water /Sewer Budget annually as part of the budget process. Garbage /Recycling , Building Permits Other Parks and recreation fees recover approximately 20% of the cost of those programs. State statute allows full cost recovery for implementing the Florida 3 of 32  3s 10 ti aalsueaj slyj 10 jlnsai a se ssol jau pue -aeaA a inoui ll! 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