Fort Walton Beach Council agenda — 08-25-2009 regular — reading text

9,427.21 10,504.77 48,124.46 Other Receipts Lump Sum Payments Periodic Payments 157,828. 17) 92, 045.87) 81, 845.96) 331, 720.00) Other Expenses 16,520.70) 8,750.00) 10,394.00) 35,664.70) Market Value 24,831, 677.42 14,627,962.66 0,066,374.99 47,526,015.07 Change in Market Value 1. 72% 2.34% 0.35% 1. 69% Balance Unrealized Gain/( Loss) Int'i Equity Market Value Change in int'I Equity Market Value 0.00% 0.00% 0.00% 0.00% Combined Market Value - 06/ 3012009 24,831, 677.42 14,627,962.66 8,066,374.99 47,526,015.07 Previous Month % Change in Combined Market Value 1. 72% 2.34% 0.35% 1. 69% Combined Market Value - 06/3012008 30,857,127.76 17,909,731. 46 10,001, 557.62 58,768,416.84 Previous Year % Change in Combined Market Value 19.53% 18.32% 19. 35% 19.13% Combined % Change Since 06/ 30/2004 4.780A 0.43% 3.02% 2.93°% Combined Cost Value 27,893,950.95 14,450,319.83 8,781, 632.17 51, 125,902.95 6565 6060 5555 5050 4545 4040 3%3% ss 3030 2525 2020 1515 1010 55 00 06+ 06+ ipip ee 40P40P qrqr FiveFive YearYear ( ( Quarterly)Quarterly) MarketMarket ValueValue HistoricalHistorical TrendTrend Reviewed:Reviewed: 8/8/ 19!19! 200911:200911: 3838 AMAM C.C. ZownwftZownwft andand S9Wngs%S9Wngs%DRe0.DRe0. ocWocW SeftgMSeftgM  CITY COUNCIL MEETING August 25, 2009 Consent Agenda Approval of Minutes: Special Council Meeting of August 3, 2009 Special Meeting of August 11, 2009 Regular Meeting of August 11, 2009 Agenda Item Number: 3. 1  24:1 MINUTES OF THE SPECIAL COUNCIL MEETING REVIEW OF PROPOSED BUDGET FOR FY 08/ 09 OF THE CITY OF FORT WALTON BEACH, FLORIDA AUGUST 3, 2009 INTRODUCTION A special meeting of the City Council of Fort Walton Beach, Florida, was held on Monday, August 3, 2009, at 5: 30 p.m. in the Council Chambers at City Hall, with the following members present: Mayor Mike Anderson Councilmen: Mike Holmes, Virgil Miller, Dennis Reeves, Bill `Garvie, Bobby Labors, Bill Patterson, Dick Rynearson Also Present: Bob Mearns, City Manager; Helen Spencer, City Clerk; Toni Craig, City Attorney; and Department Directors PURPOSE The purpose of the Special Council meeting is to review and discuss the proposed Budget for Fiscal Year 2009/ 10. CALL TO ORDER The Mayor called the meeting to order. PLEDGE The Mayor led in the Pledge of Allegiance. APPROVAL OF AGENDA Mr. Reeves moved to approve the agenda as the business of the day. Mr. Patterson seconded motion and it carried unanimously with Holmes, Miller, Reeves, Garvie, Nabors, Patterson, and Rynearson in favor. CHANGE BUDGET HEARING DATE The Finance Director requested Council change the first public budget hearing date to Wednesday, 9d'. September The Mayor opened the floor for public input. As no one wished to speak public input was closed. Mr. Garvie moved to change the first public budget hearing date from Wednesday, d September 2 " to ' Wednesday, September 9, 2009 with the second hearing on public Wednesday, September 16, 2009. Mr. Reeves seconded motion and it carried unanimously with Holmes, Miller, Reeves, Garvie, Nabors, Patterson, and Rynearson in favor. PRESENTATION OF 2009 =2010 BUDGET The City Manager mentioned the budget development process began in late January and the proposed budget accomplishes the goals set by Council to preserve the quality of life in the City with no increase in millage rates, no increase in fees, and no decrease in levels of service. The Finance Director discussed the top five budget issues: property taxes, personnel reductions, interfund transfers, pension contributions, and sales tax revenues; and reduction in expenses for wages, operating, capital outlay, and reserves. She mentioned there have been some changes since the proposed budget was prepared; some expenses have come in lower and some revenue have come in higher. 2 T2 - Special Council 8 -3 -09 PRESENTATION OF 2009 -2010 BUDGET coat. The Finance Director said staff will reduce the appropriation from undesignated fund balance from 589, 000. 00 to $ 445, 000.00. She explained staff would like_to maintain that as a cushion over and above the 30% of expenditures reserved as fund balance because staff does not feel the FY 2011 budget is going to look much better than the current proposed budget and the additional funding may be the difference between keeping a program or cutting a program; and if current year revenues come in lower than anticipated or there is a large unanticipated expenditure then the $ 589, 000. 00 could be lower than anticipated. She said the proposed budget as presented is balanced and asked if changes are made by Council that a funding source be provided. Charlotte Dunworth, Budget/Grants Manager, gave an overview of the proposed budget by each Department. City Council Review included the City Attorney reduced her contract to $ 90,000.00, PAWS reduced their contract by 8% to $ 87, 797.00, the Chamber funding was reduced by 76% to $ 6, 000 to reflect value of in -kind services, and. the Economic Development Council funding was reduced by 19% to 18, 00.00; for a 15. 6% budget