Fort Walton Beach — Fiscal Year 2022 to 2023 CRA Budget — reading text

Community Redevelopment Agency Fund The Community Redevelopment Agency (CRA) Fund encompasses 7.52% of the City’s activities and services and accounts for funding derived from City of Fort Walton Beach and Okaloosa County Tax Increment Funding (TIF) – proceeds from increases in the taxable assessed value of the CRA District. The original CRA area was formed in 1980, with that being the base year for the purpose of determining the growth in assessed taxable value. In 2019, the CRA area was expanded to include additional areas. The TIF is determined by the growth in the assessed value of taxable property located in the CRA district from the base year to the current tax year and is multiplied by the current tax rate for the City and County. Expenditures in the CRA area target eliminating blight in residential and commercial areas. Revenue Highlights $4,500,000 Budget. $4,000,000 ……2022-23 $ Change % Change $3,500,000 Ad Valorem Taxes 1,510,607 92,631 6.1% $3,000,000 Intergov’t Revenue 1,157,390 138,124 11.9% $2,500,000 Interest & Other 1,600,000 1,600,000 100% $2,000,000 Approp. from Reserves 0 0 0% $1,500,000 $4,267,997 1,830,755 42.9% $1,000,000 $500,000 $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations  The budget is predicated on the lowered millage rate of 4.9999 mills for the City’s portion of the TIF. One mill equals $144.6 per $1,000 of taxable property value. Expenditure Highlights $4,500,000 $4,000,000 Budget. $3,500,000 2022-23 …… $ Change % Change $3,000,000 Personal Services 521,065 53,165 10.2% $2,500,000 Operations & Maintenance 2,168,166 1,667,976 76.9% $2,000,000 Replenish Reserves 952,056 65,500 6.9% $1,500,000 Interfund Transfer 169,210 (16,886) (10.0)% $1,000,000 Capital Outlay/Imprvmt 457,500 61,000 13.3% $500,000 0 $4,267,997 1,830,755 42.9% $0 Actual Actual Budget Budget Budget 2018-19 2019-20 2020-21 2021-22 2022-23 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers Replenish Reserves  Increases in Operational expenses are primarily due to the Landing Improvements Grant.  The increase is primarily due to Liza Jackson Park design and Heritage Park & Cultural Center addition. 130  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change 865,478 983,485 973,811 1,037,888 2000-311-1000 Ad Valorem Taxes - City Original TIF 1,090,586 5.08% 274,323 369,491 377,181 380,088 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 420,021 10.51% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 Total Ad Valorem Taxes $ 1,510,607 6.53% $ 1,139,801 $ 1,352,976 $ 1,350,992 $ 1,417,976 TOTAL TAXES $ 1,510,607 6.53% 572,263 713,061 693,972 746,053 2000-338-2000 Ad Valorem Taxes - County Original TIF 835,580 12.00% 181,739 303,492 275,249 273,214 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 321,810 17.79% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 Total Local Shared Revenues $ 1,157,390 13.55% $ 754,002 $ 1,016,552 $ 969,221 $ 1,019,267 TOTAL INTERGOVERNMENTAL REVENUE $ 1,157,390 13.55% 18,648 36,946 32,766 - 1500-361-1000 Interest Income - 0.00% $ 18,648 $ 36,946 $ 32,766 $ - Total Interest Income $ - 0.00% 21,300 36,701 51,038 - 2000-362-1000 Rental and Lease Income R - 0.00% $ 21,300 $ 36,701 $ 51,038 $ - Total Rents and Royalties $ - 0.00% - - 24,585 - 1500-369-9000 Miscellaneous Revenue - 0.00% $ - $ 24,585 $ - Total Other Revenues $ - 0.00% $ - $ - $ - $ - Deparment of Envrionmental Protection Grant 1,600,000 100.00% Total State Grants $ 1,600,000 100.00% $ 39,947 $ 73,646 $ 83,804 $ - TOTAL INTEREST & OTHER REVENUES $ 1,600,000 100.00% $ - $ - $ - $ - TOTAL TRANSFERS IN $ - 0.00% $ 1,933,751 $ 2,443,175 $ 2,404,017 $ 2,437,243 TOTAL FUND REVENUES $ 4,267,997 75.12% 131 109-Revenues 8/28/2022 1:39 PM  109 CRA FUND - 2000 CRA Actual Budget 2021-22 2022-23 % 2018-19 2019-20 2020-21 Adopted Adopted Change Personnel Services: 5.00 5.00 6.00 4.60 Number of Employees (FTE's) 4.60 219,001 257,038 286,541 256,210 552-1200 Regular Salaries 288,092 12.44% - - - 150 552-1201 Service Awards 4,900 3166.67% 100 - 250 15,452 552-1202 Incentive Pay 11,191 -27.57% 827 - - - 552-1216 Final Leave - 0.00% 22,369 7,907 4,605 4,768 552-1400 Salaries - Overtime 5,007 5.01% 9,582 3,417 6,804 5,435 552-1401 Salaries - Overtime Holiday Worked 3,870 -28.79% 18,493 19,490 18,780 - 552-1501 Incentive - 0.00% 15,656 16,484 17,991 15,026 552-2100 FICA Taxes 17,243 14.76% 3,661 3,855 4,207 3,514 552-2101 Medicare 4,033 14.76% 86,583 84,891 124,885 96,044 552-2201 Retirement Contributions - Police Officers 107,476 11.90% - - 681 2,743 552-2204 Retirement Contributions - DC Plan