Fort Walton Beach Council agenda — 09-08-2010 Special-1st Public Hearing FY 10/11 Budget — reading text

Budget 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 Ad Valorem Taxes Other Taxes Licenses & Permits Intergov't Revenue Charges for Services 6 Fines & Forfeitures Interest & Other Other Financing Sources Fund Balance / Net Assets Actual Actual Actual Budget Budget 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 Variance Variance Ad Valorem Taxes 6, 123, 749 6, 021, 743 5, 582, 822 5, 230, 655 5, 230, 355 300) 0. 01% Other Taxes 3, 967,253 4, 015,221 4, 576, 095 4,295, 517 4,416, 500 120, 983 2. 82% Licenses & Permits 2, 174, 814 2, 225,224 2, 327,486 2, 363, 320 2, 388, 838 25, 518 1. 08% Intergov't Revenue 3, 653,646 2, 896, 878 2, 935, 179 2, 384,481 2, 423, 943 39, 462 1. 65% Charges for Services 13, 587, 636 13, 056,494 13, 265, 761 13, 714, 285 14, 273, 184 558, 899 4. 08% Fines & Forfeitures 421, 431 466, 112 582, 999 332, 700 319, 700 13, 000) 3. 91% Interest & Other 5, 770, 917 2, 208, 550 2, 224, 014 1, 489, 541 1, 066, 367 423, 174) 28. 41% Other Financing Sources 3, 439, 397 6, 476, 542 4, 711, 650 3, 599, 024 3, 125, 216 473,808) 13. 16% Fund Balance / Net Assets 2, 657, 168 21463, 987 193, 181) 7. 27% Revenues 39, 138,854 37, 366, 764 36, 206,006 36, 066,691 35, 708, 090 358,601) 0. 99% Expenditures by Category Personal Services OperatingOperating Expenses Expenses CapitalCapital OutlayOutlay CapitalCapital ImprovementsImprovements TransfersTransfers DebtDebt ServiceService Contingencies ReservesReserves ActualActual ActualActual ActualActual Budget BudgetBudget 2006 -07 2007 -08 20082008 - - 0909 2009 -10 20102010 - - 1111 Variance Variance PersonalPersonal Services Services 19, 135, 333 20,028, 835 19,19, 122,122, 351351 18, 796, 551 17,17, 362,362, 635635 1, 433, 916) 7.7. 63% 63% Operating Expenses 9,9, 928,928, 644644 9, 873, 113 12,12, 777,777, 291291 8, 709, 328 9,9, 159,159, 808808 450, 480 5.5. 17%17% Capital Outlay 1,1, 193,193, 185185 1, 367,262 627,627, 077077 336,984 949,949, 695695 612,612, 711711 181. 82% Capital Improvements 4,883, 863 1, 200, 708 2, 784, 744 3,3, 242,242, 906906 3, 607, 098 364,364, 192192 11. 23% Debt Service 2, 016, 578 3, 546, 566 1, 546, 554 2, 168, 121 2, 101, 158 66, 963) 3. 09% Transfers 2, 681, 725 5, 684, 353 3, 315,213 2, 452, 511 2, 197, 498 255,013) 10. 40% Contingencies & Reservers 360, 289 330, 199 30, 090) 8. 35% Reclass of Capital Outlay 4,250, 766) 1, 397,246) 1, 227, 953) 0. 00% Expenditures 35, 588, 563 40, 303, 087 38,945, 280 36, 066,691 35,708, 090 358,601) 0.0. 99% 99% City of Fort Walton Beach, FL Budget Overview The fundamental purpose of the City's budget is to link what we want to accomplish for the community with the resources necessary to do so. As such, the budget offers more than just financial elements — it presents an overview of the City's total operations. This document is intended to provide City Council and our citizens with a plan addressing financial, operational, and policy issues. The budget serves as a: Policy Document — The budget presents financial policies, addresses Vision and Strategic Plan goals, and identifies the short and long -term We are committed to providing quality impacts programs, services, and capital service to our diverse community in ways improvements will have on the City' s operations that are responsive and caring by working and finances. together to serve our residents. Financial Plan — The budget outlines the financial We believe that the success of our organization depends upon the teamwork, mutual trust, and structure and operational changes required for financial the honesty achieved through our commitment to the stability, including capital improvements program and debt management following core values: Responsibility as a team for efficient and information. effective service delivery. Operations Guide — The budget provides direction Integrity in everything we do. to departments by identifying the relationships Communication with one another and with between organizational units and programs, citizens. identifying the workforce and historical data on Participation by the Mayor and Council, operations, identifying the impact of capital volunteers, citizens and City team members in spending, and establishing measurable setting and attaining the City' s goals. performance goals and objectives for managers to Innovation in meeting the present and future evaluate the effectiveness of their organization. needs of our City. Communication Device — The budget is presented Loyalty to our community, the organization and to each team member. in a format that is easily understood through the use of charts and graphs, icons, statistical Courtesy in all personal relations. information, and narrative descriptions. Pride in our work, our dedication to public service, The budget is a financial operational plan