Fort Walton Beach Council agenda — 09-15-08 special agenda - budget — reading text

CITY OF FORT WALTON BEACH SECTION I: COMPLETED BY PROPERTY APPRAISER 1. Current year taxable value of real property for operating purposes 1, 248, 651, 409 ( 1) 2. Current year taxable value of personal property for operating purposes 134,134, 543,543, 900900 ( ( 2)2) 3. Current year taxable value of centrally assessed property for operating purposes 0( 3) 4. Current year gross taxable value for operating purposes ( Line 1 plus Line 2 plus Line 3) 1, 383, 195, 309 ( 4) Current year net new taxable value ( Add new construction, additions, rehabilitative improvements 5. increasing assessed value by at least 100 %, annexations, and tangible personal property value in 39, 915, 019 ( 5) excess of 115% of the previous year's value. Subtract deletions.) 6. Current year adjusted taxable value ( Line 4 minus Line 5) 1, 343, 280, 290 ( 6) 7. Prior year FINAL gross taxable value ( From prior year applicable Form DR -403 series) 1, 471, 906, 886 ( 7) 8. Enter number of tax increment value worksheets ( DR- 420TIF) attached ( If none, enter 0) 2( 8) Does the taxing authority levy a voted debt service millage or a millage voted for 2 years or less 9, under s. 9( b), Article VII, State Constitution? ( If yes, complete and attach form DR -420 VMA, Voted Yes No 0 ( 9) Millage Addendum.) 10. Information for maximum millage calculation: Current year gross taxable value for operating purposes without the impact of Amendment 1. 1, 499,247, 020 ( 10) Property Appraiser Certification W W I certify the taxable values shown above are correct to the best of my knowledge. W Z Date C7 PETE SMTIH, OKALOOSA COUNTY PROPERTYAPPRAISER July 9, 2008 SECTION II: COMPLETED BY TAXING AUTHORITY If this portion of the form is not completed in FULL your authority will be denied TRIM certification and possibly lose its millage levy privilege for the tax year. If any line is inapplicable, enter N/ A or -0 -. 11. Prior year operating millage levy L. 9U per $ 1, 000 11) 12. Prior year ad valorem proceeds ( Line 7 multiplied by Line 11) qqgl 12) 13 Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a 13)13) dedicated increment value ( Sum of either Line 6c or Line 7a for all DR- 420TIF forms) 14. Adjusted prior year ad valorem proceeds ( Line 12 minus Line 13) 192 14)14) Dedicated increment value, if any ( Sum of either line 6b or Line 7e for all DR- 420TIF forms) 15. 9Qj p 15) 16. Adjusted current year taxable value ( Line 6 minus Line 15) 7, 17. Current year rolled -back rate ( Line 14 divided by Line 16, multiplied by 1, 000) Xs 3: per $ 1, 000 17)17) CONTINUED ON PAGE 2  TENTATIVE MILLAGE Script for Public Hearing on Millage Rate Mayor: State the following: The tentative millage rate for the City of Fort Walton Beach for FY 2008- 09 is 4.3361 mills, which is 7. 5% below the rollback rate of 4. 6883 mills. The rollback rate is the millage rate that will provide the same ad valorem tax revenue as was levied during the prior year. The reason for setting the millage rate at 4.3361 mills is to provide sufficient revenues to balance the General Fund budget. Mayor: Open the Public Hearing and ask for comments on the tentative millage rate. Mayor: Close the Public Hearing. Mayor: Ask for a Motion and Second for Resolution 2008 -40 to set the tentative millage rate for the City of Fort Walton Beach at 4.3361 for the fiscal year beginning October 1, 2008 and ending September 30, 2009. Use specific language abovefor motion) Mayor: Ask for Council Discussion. Mayor: Ask for a Vote. Mayor: Upon adoption of the Resolution, the Mayor shall announce: The tentative millage rate for the City of Fort Walton Beach is 4.3361 mills for the fiscal year beginning October 1, 2008 and ending September 30, 2009, which is 7. 5% below the rollback rate of 4. 6883 mills. The proposed millage is subject to a second and final public hearing that will be held here at the City of Fort Walton Beach Council Chambers on Monday, September 22, 2008 at 5 :30pm.  CITY COUNCIL SPECIAL MEETING September 15, 2008 Special Meeting Agenda Consideration of Resolution 2008 -41, adopting the tentative budget for FY 2008 -09 Finance Director) Council Action 1 St 2nd Vote: Agenda Item Number: SP- 2  CITY OF FORT WALTON BEACH Memorandum TO: Joyce Shanahan, City Manager FROM: Charlotte Dunworth, Budget & Grants Manager RE: Tentative Budget for FY 2008 -09 DATE: September 11, 2008 Background In compliance with City Charter Section 17, the City Manager is to prepare and submit to Council the annual budget identifying expenditures and revenues in sufficient amounts to cover all appropriations. The City Manager's proposed FY 2008 -09 budget, prepared at a millage rate of 4. 1986, was presented to Council at budget meetings on August 18 -20. Discussion The FY 2008 -09 budget of $36, 570, 582 is $ 40, 086 or 0. 1 % less than the adopted FY 2007 -08 budget and includes the elimination of 24 positions and reduced hours for another 8 positions. Funded full -time equivalent ( FTE) positions total 340. 56 compared to 363. 24 last year, a decrease of 22. 68 FTE' s or 6. 2 %. The budget is balanced with no appropriation from unreserved /undesignated fund balance to cover operational expenses. The City's 2008 assessed taxable value is $ 1. 383 billion, a 6. 0% decrease. The budget is predicated on a millage rate of 4. 3361, which is 7. 5% less than the millage rate that would generate the same amount of property taxes as the prior year. Ad valorem revenues in the General Fund are anticipated to decrease 5. 3%or $ 262, 757. The General Fund budget of $ 18, 698, 606, exclusive of the $ 178K transfer to the Golf Fund and a new requirement to budget for the state' s $ 373K contribution to police and fire pension plans, is 4. 1 % less than the prior year. The attached budget reflects changes requested by City Council consensus during the budget meetings, as well as adjustments for workers compensation and fire department promotions based on information that became available after the proposed budget was finalized in late July as noted during the budget meetings. These changes are summarized below. 19, 031, 763 08 -01 -08 General Fund Budget 10, 000 Fireworks - additional funding 3, 000 Kids Day 40,000 Two Police Patrol Vehicles 73,463 Fire Prevention Captain Fire Promotions (offset by contingencies and work comp) 80, 000 1% Addt'l COLA 11, 250 Choctawhatchee basin Hmance 19, 249,476 Council Revised General Fund Budget 19, 249,466 09 -15 -08 General Fund Budget Variance of $10 due to millage rate rounding. 38, 943 08 -01 -08 Law Enforcement Trust Fund Budget no changes 38, 943 Council Revised LETF Fund Budget 38,943 09 -15 -08 Law Enforcement Trust Fund Budget 1 of 3  46,782 08 -01 -08 Law Enforcement Training Fund Budget no changes 46,782 Council Revised LETF Fund Budget 46,782 09 -15-08 Law Enforcement Training Fund Budget 141, 275 08 -01 -08 Community Development Block Grant Fund Budget no changes 141,275 Council Revised CDBG Fund Budget 141, 275 09 -15-08 Community Development Block Grant Fund Budget 1, 894,343 08 -01 -08 Community Redevelopment Agency Fund Budget 644 1% Addt'l COLA, Work Comp 32,065 C1P 5602 MainStreet Streetscape ( to balance addrr ad valorem) 1, 927,052 Council Revised CRA Fund Budget 1, 927,052 09 -15-08 Community Redevelopment Agency Fund Budget 415,724 08 01 - -08 Debt Service Fund Budget no changes 415,724 Council Revised Debt Service Fund Budget 415,724 09 -15 -08 Debt Service Fund Budget 7,625,241 08 -01 -08 Utilities Fund Budget 6, 708 1% Addt'l COLA, Work Comp 6,708) Reserve for future appropriation 7,625,241 Council Revised Utilities Fund Budget 7,625,241 09 -15-08 Utilities Fund Budget 3,762,381 08 -01- 08 Sanitation Fund Budget 3, 185