Fort Walton Beach Resolution — 2008-45-Final 08/09 Budget Adoption — reading text

Resolution 2008-45 A RESOLUTION OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE BUDGET FOR CERTAIN EXPENDITURES, EXPENSES, CAPITAL IMPROVEMENTS AND CERTAIN INDEBTEDNESS FOR THE CITY OF FORT WALTON BEACH, FLORIDA, FOR THE YEAR BEGINNING OCtOBER 1, 2008 AND ENDING SEPTEMBER 30, 2009; AND SETTING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, THAT: 1. Purpose Prior to the beginning of a new fiscal year, the City is required to pass and adopt a budget for the operation of the City government. The City held public budget meetings on August 18- 20, 2008 to discuss the FY 2008-09 budget. The City then held public budget hearings on September 15, 2008 and September 22, 2008 as required by Florida Statutes section 200. 065. 2. Tax Rate The City Council set the tax rate at 4. 1986 mills for property assessed as of January 1, 2008. 3. Adoption of Budget The document entitled " City of Fort Walton Beach FY 2008- 09 Adopted Budget" comprises the total amount of $ 36, 537, 873 for all funds reported. The budget is being presented as a balanced budget whereby there are sufficient revenues to offset all estimated expenditures or expenses. All budget appropriations are based upon the total expenditure and/ or expenses even though the budget has been prepared based on line items and summarized to a categorical level. 4. Budget Amendments a. The City Council may make any amendments to the adopted budget, by resolution, as it may deem necessary and proper. b. Budget amendments requesting additional expenditures or expenses must also identify the corresponding funding source. 5. Budget Transfers Budget transfers shall be accomplished pursuant to Resolution 2008- 31, adopted by the City Council on August 18, 2008. 6. Debt Service Debt service for the General Fund will be paid from operating revenues and/ or transfers from the Debt Service Fund. Debt service for the Utilities and Golf Enterprise Funds will be paid from operating revenues from these Enterprise Funds.  q-11~ rt NOTICE OF BUDGET' HEARING The City of FortVVrlton Be,li1~ i Florida has tentatively adopted a bytiget for fiscs\1 year 2008-2009. A public hearing to make a FINAL DECISION on the budget AND TAXES will be held on Monday, September 22, 2008 at 5: 30pm at City Hall Council Chambers, 107 Miracle Strip Parkway SW 2047206 BUDGET SUMMARY t CITY OF FORT WALTON BEACH, FLORIDA. FISCAL YEAR 2008.2009 Special Debt General Revenue Service Enterprise Fund Funds Fund Funds Total Estimated Revenues: Ad Valorem Millage Rate: 4.3361 per $1, 000) Ad Valorem Taxes 5, 697, 789 5, 697,789 Other Taxes 4, 346, 500 4, 346,500 Licenses and Permits 2, 077, 310 2, 077, 310 Intergovernmental Revenue 2,478, 340 141, 275 2, 619, 615 Charges for Services 975,7 1 13,496, 350 14,47?, 121 Fines & Forfeitures 150, 350 12, 000 118, 500 280, 850 Interest & Other Revenues 1, 124, 558 142, 500 667, 911 1, 934,969 Transfers In & Other Financing Sources 2, 128, 367 1, 867,215 415, 724 218, 000 4,629, 306 Total Revenues & Other Financing Sources 18,978,985 2, 162,990 415, 724 14, 36, 50 7, 61 0584, 60 Fund Balance/ Net Assets 270,481 61, 225 512, 122 1804, 16 Total Revenues, Transfers, & Balances 19. 249466 2. 224.215 415.724 14. 681. 177 36.570.582 Estimated EXDenditures: General Government 4,489, 379 379 4,489, Public Safety 8, 607, 998 85, 725 8,693, 723 Physical Environment 274, 284 70, 163 6,881, 169 7, 225, 616' . Transportation 1,465, 020 1,465, 020 Community & Economic Development 746, 975 48J,026 1, 230, 001 Culture & Recreation 2, 663, 822 1, 8024, 58 280 4,46 , Capital Outlay 164, 208 5, 700 405, 445 575, 353 Capital Improvements 100, 000 1, 276, 736 623, 510 2, 000,246 Debt Service 415,724 642 1, 876,366 1,460, Transfers Out & Other Financing Sources 633,887 287, 865 2,911, 995 3,833, 747 Total Expenditures 19, 145, 573 2, 209,215 415;724 14, 085,219 35, 855, 730 Contingencies & Reserves 103, 893 15, 000 595, 959 714, 852 Total Appropriated Expenditures, Transfers, & Balances 19. 249.466 2.224. 215 415.724 14. 681. 178 36. 570. 582 THE TENTATIVE, ADOPTED, AND/ OR FINAL BUDGETS ARE ON FILE IN THE OFFICE OF THE ABOVE MENTIONED TAXING AUTHORITY AS A PUBLIC RECORD. 2047207