Fort Walton Beach — Fiscal Year 2014 to 2015 CRA Budget — reading text

Community Redevelopment Agency Fund The Community Redevelopment Agency (CRA) Fund encompasses 4.4% 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 1999 the CRA area was expanded to include an additional area. 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 $1,800,000 Budget. $1,600,000 $ Change % Change 2014-15 …… $1,400,000 Ad Valorem Taxes 975,294 15,866 1.7% $1,200,000 Intergov’t Revenue 579,933 9,435 1.7% $1,000,000 Interest & Other 62,620 0 0.0% $800,000 Approp. from Reserves 13,129 13,129 100.0% $600,000 $1,630,976 $38,430 2.4% $400,000 $200,000 $0 Actual Actual Actual Budget Budget 2010-11 2011-12 2012-13 2013-14 2014-15 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations  The budget is predicated on maintaining the City millage (Ad Valorem) rate at 5.7697 mills. One mill equals $1 per $1,000 of taxable property value.  County Ad Valorem tax proceeds are accounted for as intergovernmental revenues. The County’s millage rate is 3.4308 mills. Expenditure Highlights $2,000,000 $1,800,000 Budget. $1,600,000 ……2014-15. $ Change % Change $1,400,000 Personal Services 497,693 -51.703 -9.4% $1,200,000 Operations & Maintenance 1,033,283 -8,077 -0.8% $1,000,000 Capital Outlay/Imprvmt 100,000 98,210 5486.6% $800,000 $600,000 $1,630,976 $38,430 2.4% $400,000 $200,000 $0 Actual Actual Actual Budget Budget 2010-11 2011-12 2012-13 2013-14 2014-15 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers  The personal services decrease is attributable to a decline in police pension contributions.  The increase in capital outlay is associated with two projects that are planned: the replacement of signs within the CRA and a Gateway to the CRA.  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2013-14 2014-15 % 2010-11 2011-12 2012-13 Adopted Adopted Change 693,075 638,388 608,797 764,738 2000-311-1000 Ad Valorem Taxes - City Original TIF 771,768 0.92% 202,975 165,430 151,297 194,690 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 203,526 4.54% $ 896,050 $ 803,818 $ 760,094 $ 959,428 Total Ad Valorem Taxes $ 975,294 1.65% $ 896,050 $ 803,818 $ 760,094 $ 959,428 TOTAL TAXES $ 975,294 1.65% 504,419 462,780 441,329 454,731 2000-338-2000 Ad Valorem Taxes - County Original TIF 458,912 0.92% 147,140 119,924 109,678 115,767 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 121,021 4.54% $ 651,559 $ 582,703 $ 551,007 $ 570,498 Total Local Shared Revenues $ 579,933 1.65% - 57,390 397,492 - Prior Years Grants - 0.00% $ - $ 57,390 $ 397,492 $ - Total Grants $ - 0.00% $ 651,559 $ 640,093 $ 948,499 $ 570,498 TOTAL INTERGOVERNMENTAL REVENUE $ 579,933 1.65% 37,559 23,237 27,299 62,620 1500-361-1000 Interest Income 62,620 0.00% (12,541) 8,698 (7,756) - 1500-361-3000 Unrealized Gain/(Loss) - 0.00% - (534) (11,789) - 1500-361-4000 Realized Gain/(Loss) - 0.00% $ 25,019 $ 31,402 $ 7,754 $ 62,620 Total Interest Income $ 62,620 0.00% - 987 2,032 - 1500-369-9000 Miscellaneous Revenue - 0.00% 11 17 55 - 1500-369-9091 Discounts - 0.00% $ 11 $ 1,004 $ 2,087 $ - Total Other Revenues $ - 0.00% $ 25,029 $ 32,406 $ 9,842 $ 62,620 TOTAL INTEREST & OTHER REVENUES $ 62,620 0.00% - - - - 1600-389-9100 Appropriation from Fund Balance 13,129 100.00% $ - $ - $ - $ - Total Non-Operating Sources $ 13,129 100.00% $ - $ - $ - $ - TOTAL TRANSFERS IN $ 13,129 100.00% $ 1,572,638 $ 1,476,317 $ 1,718,435 $ 1,592,546 TOTAL FUND REVENUES $ 1,630,976 2.41% 109-Revenues 10/1/2014 4:36 PM  109 CRA FUND - 0800 POLICE Actual Budget 2013-14 2014-15 % 2010-11 2011-12 2012-13 Adopted Adopted Change Personal Services: 2.00 5.00 5.00 5.00 Number of Employees (FTE's) 5.00 76,056 192,223 187,805 220,251 521-1200 Regular Salaries 209,582 -4.84% - - 106 - 521-1201 Service Awards - 0.00% - - 7,534 - 521-1202 Incentive/Merit Pay - 0.00% - - 7,672 - 521-1211 Police Pension Wages - 0.00% 3,244 9,325 7,881 8,175 521-1401 Salaries - Overtime Holiday Worked 8,175 0.00% 7,954 20,166 20,064 11,314 521-1501 Incentive Pay 9,147 -19.15% 5,280 13,279 13,964 15,807 521-2100 FICA Taxes 15,135 -4.25% 1,235 3,106 3,266 3,698 521-2101 Medicare 3,541 -4.26% 23,589 74,092 88,696 100,962 521-2201 Retirement Contributions - Police Officers 71,525 -29.16% 10,054 29,955 28,210 31,982 521-2300 Dental, Life & Health Insurance 22,623 -29.26% 2,256 6,441 6,634 7,408 521-2400 Worker's Compensation 7,040 -4.96% - - 45,484 47,884 521-1291 Salary Allocation Reimbursement to General Fund 42,945 -10.31% $ 130,477 $ 354,764 $ 421,050 $ 452,481 Total Personal Services $ 394,713 -12.77% Operating Expenses: - - 11,454 16,625 521-3100 Professional Services