Okaloosa County BOCC — September 15, 2014 — reading text

Debt Service 1.3% 4.3% Reserves by Fund Activities $59,560,704 Inspections Self Insurance General 0.2% 2.9% 6.4% Tourist Development Solid Waste 29.8% Airport Enterprise 0.3% 20.3% S.H.I.P. 0.5% 911 Coordinator 1.6% Street Lighting 0.7% Unincorporated Parks 5.3% Water & Sewer Enterprise 28.0% Prisoner Benefit 0.8% Drug Abuse 0.1% Add Court Cost Road/Bridge Debt Service 0.9% 0.6% 0.7% Family Mediation Capital Outlay 0.9% 0.0% Packet Pg. 44 1-39  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 15, 2014 TO: Honorable Chairman and Members of the Board SUBJECT: Budget Meeting Presentations Presentations for the Final Budget Public Hearing are attached. Packet Pg. 45  Legal Requirements 1. Amend and adopt any changes to the tentative budget 2. Re-compute any changes to the proposed millage rate 3. Publicly announce the percent, if any, by which the re-computed millage exceeds the rolled-back rate (RBR) Ø Percentage increase in millage over rolled-back rate Taxing Authority RBR Proposed (1)(2) __%__ County 3.3244 3.4308 3.20% MSTU – Parks 0.1747 0.2990 71.15% Aggregate 3.4095 3.5729 4.79% Ø Adhere to state mandated rolled-back and percentage reduction (1) The millage rate set by the final hearing shall in no event be higher than that set at the tentative hearing. 1 Packet Pg. 46  Aggregate Millage Comparison (First seven lowest in State) 5.5 5.2003 5.2687 5 4.5 4.1505 4 3.948 3.8076 3.6761 3.5729 3.5 3 Okaloosa Walton Sarasota Monroe Collier Lee Bay Packet Pg. 47  Aggregate Millage Comparison (By Taxable Value) 10 8.8144 9 7.8653 8 7.4538 7 6.6071 6.0953 6 5.5477 5.2687 5 4 3.6761 3.5729 3 Packet Pg. 48  County Debt Per Citizen (By Similar Taxable Value in FY 12) $600 $493 $500 $389 $410 $400 $366 $288 $271 $300 $200 $178 $100 $0 Indian Leon Escambia Okaloosa Bay Marion Lake River ($13.4B) ($13.5B) ($13.6B) ($13.8B) ($13.9B) ($14.7B) ($12.7B) Packet Pg. 49  Total Budget (Last 10 Years-in millions) 350.0 $313.2 $310.0 $304.1 300.0 $292.3 $280.4 $279.9 $263.6 $261.6 $257.2 250.0 $238.4 200.0 150.0 100.0 50.0 0.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Packet Pg. 50  Standard & Poor's Ratings Services raised from ‘AA-‘ to 'AA' • Okaloosa County's economy strong with projected per capita effective buying income of 109% of national level • Budgetary flexibility is very strong with available, unassigned general fund reserves of $6.6 million • County levies 3.4308 millage that is well below the 5.8907 maximum they could levy • County's debt profile is very strong – Net direct debt was 30.5% of total governmental funds revenue in FY13 – Debt service was just 2% of total governmental funds expenditures – Overall debt is very low at less than 1% of estimated market value Packet Pg. 51  Impact of Proposed MSTU Millage Increase (Annual Increase by Taxable Property Value) $45.00 $40.00 $41.65 $35.00 $35.70 Annual Tax Increase $30.00 $29.75 $25.00 $23.80 $20.00 $17.85 $15.00 $11.90 $10.00 $5.00 $5.95 $0.00 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 Taxable Property Value Packet Pg. 52  Impact of Proposed MSTU Millage Increase (Monthly Increase by Taxable Property Value) $4.00 $3.50 $3.47 $3.00 Monthly Tax Increase $2.98 $2.50 $2.48 $2.00 $1.98 $1.50 $1.49 $1.00 $0.99 $0.50 $0.50 $0.00 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 Taxable Property Value Packet Pg. 53  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 15, 2014 TO: Honorable Chairman and Members of the Board SUBJECT: MOU - Sheriff Compensated Absences Request Board approval of a memorandum of agreement between the BCC and the Sheriff's office for additional funding. Packet Pg. 54  OKALOOSA COUNTY SHERIFF’S OFFICE COMPENSATED ABSENCES FUND TRANSFER AGREEMENT THIS AGREEMENT entered into this ____day of ________, 2014, by and between the OKALOOSA COUNTY SHERIFF’S OFFICES (OCSO) and the OKALOOSA COUNTY BOARD OF COUNTY COMMISSIONERS (BOCC). WHEREAS, increased population, increased tourist traffic, increased violent crime rates, increased calls for service and a myriad of other factors create an ever increasing demand for law enforcement services; and WHEREAS, effective law enforcement services are critical to the safety and well-being of Okaloosa County citizens, businesses and visitors; and WHEREAS, the OCSO and the BOCC want to continue to work in partnership to meet the needs of Okaloosa County citizens, businesses, and visitors; and WHEREAS, this Agreement will permit additional funding of the budget of the OCSO for Fiscal Year 2015. NOW, THEREFORE, the parties to this Agreement do agree, covenant and stipulate as follows: 1. That the above recitals are true and that they are incorporated as part of this Agreement. 2. The OCSO currently holds $1,369,000 which has been encumbered to pay for compensated absences of employees of the OCSO. Based upon the analysis of the 1 Packet Pg. 55 BOCC’s external auditor, the amount is not required to be held to pay for these compensated absences. The OCSO agrees to unencumber and return to the BOCC at least $825,000 of the $1,369,000 balance currently held in an account reserved to pay for compensated absences and to return these funds to the BOCC as excess fees. These funds will be unencumbered and returned to the BOCC by October 31, 2014. 3. Based upon the analysis of the BOCC’s external auditor, both parties agree that the amount encumbered for the purpose of paying the compensated absences of the employees of the OCSO is in excess of the amount recommended to be held in reserve. 4. BOCC agrees that upon the transfer of at least $825,000, that it shall appropriate $500,000 of these funds to the OCSO for use in its FY 2015 Budget for the purposes of capital expenditures needed by the