Fort Walton Beach Council agenda — 8-11-14--proposed budget — reading text

construction projects. Enterprise Funds — Account for operations that are financed and operated in a manner similar to a private business - where the intent of the governing body is that the cost ( expenses, including depreciation) of providing the services to the public on a continuing basis be financed and recovered primarily through user charges. Related capital projects are accounted for in the individual enterprise funds. Utilities Fund —water, sewer Sanitation Fund —garbage, recycling, yard waste Stormwater —stormwater A department may have multiple divisions or be financed by multiple funds. The chart below illustrates the relationship between the City' s fund financial structure ( e. g. accounting) and the City' s departments ( e. g. operations). City of Fart Wahon Beach. FL Budget Overview Accounting Law Law Department/ General Enf. Enf. FBC CDBG CRA Utilities Sanitation Stormwater Division Trust Train City Council J City Manager N Information Tech J General Human Resources Gov' t Risk Management City Clerk J S4. 4M Finance J Purchasing J Fleet J Facilities J Public Safety Police J J J J S9. IM Fire J Recreation J J Parks J J Recreation Right -of -way Services Senior Center J Golf Club J S5. 4M O Library Museum J Cemetery Engineering Svcs J J J Planning/ Zoning d Bldg Insp/ Permits J Code Enforcement Engineering Streets I Utility Customer Service J Services Utility Services J water Operations J S 18. 2M Sewer Operations J Water Distribution Ni Sewer Collection J Sanitation J Stormwater J DEPARTMENTDEPARTMENT & & DIVISIONDIVISION INFORMATION INFORMATION AA DepartmentDepartment isis aa majormajor administrativeadministrative segmentsegment ofof thethe CityCity thatthat indicatesindicates overalloverall managementmanagement responsibility responsibility forfor anan operationoperation oror aa groupgroup ofof relatedrelated operations operations withinwithin aa functionalfunctional areaarea ( ( e.e. g.g. PolicePolice Department,Department, Recreation Recreation Department).Department). TheThe smallestsmallest organizationalorganizational unitunit budgetedbudgeted isis aa Division.Division. EachEach divisiondivision indicates indicates responsibilityresponsibility forfor oneone functionalfunctional areaarea ( ( e.e. g.g. LibraryLibrary DivisionDivision withinwithin RecreationRecreation Department).Department). WhenWhen divisionsdivisions areare combined,combined, aa department department isis formed.formed. InIn orderorder toto provideprovide CityCity CouncilCouncil andand citizenscitizens withwith aa well-well- roundedrounded presentationpresentation ofof eacheach department,department, thethe followingfollowing elementselements areare presentedpresented inin thethe annualannual budget:budget: organizationalorganizational chart,chart, revenues revenues & & expenditures,expenditures, mission,mission, description,description, goalsgoals & & objectives,objectives, andand accomplishments.accomplishments. TheThe performance performance metricsmetrics reflectreflect anan operationaloperational planplan andand demonstrate demonstrate howhow dollarsdollars andand centscents areare translatedtranslated intointo tangibletangible returnsreturns forfor thethe citizens.citizens. BUDGETBUDGET BASISBASIS AnnualAnnual appropriatedappropriated budgets budgets areare adoptedadopted byby resolutionresolution forfor allall governmentalgovernmental andand proprietary proprietary funds.funds. TheThe CityCity isis notnot legallylegally requiredrequired toto budgetbudget forfor proprietaryproprietary oror fiduciaryfiduciary fundsfunds andand thosethose budgetsbudgets areare notnot includedincluded inin thethe City'City' ss auditedaudited financialfinancial statements.statements. TheThe basisbasis ofof accountingaccounting usedused forfor purposespurposes ofof financialfinancial reportingreporting inin accordanceaccordance withwith generallygenerally accepted accepted accounting accounting principlesprinciples CityCity ofof FortFort WaltonWalton Beach.Beach. FLFL Budget Overview GAAP) is not the same basis used in preparing the budget document. All funds are budgeted on a cash basis. In GAAP financial statements, however, governmental funds use the modified accrual basis of accounting and proprietary funds use the accrual basis of accounting. During the year, the City' s accounting system is maintained on the same basis as the adopted budget, which enables department budgets to be easily monitored through the accounting system. The major difference between the budget and GAAP for governmental funds is that certain expenditures e. g. compensated absences and depreciation) are not recognized for budgetary purposes, but are recorded in the accounting system at year -end. For enterprise funds, the difference between this budget and GAAP is that debt principal payments and capital outlay ( i. e. fixed assets) are budgeted as expenditures for budgetary purposes, but depreciation and compensated absences are shown on the financial statements. Staff believes this provides a better day -to -day financial plan. However, all activity is recorded in the accounting system at year -end in accordance with GAAP. BUDGET PROCESS This budget continues the City' s commitment of using planning processes and citizen input as blueprints for providing services and programs for the betterment of the community. Planning Processes Frequency Description Budget Impact Comprehensive Long Range Plan - Provides direction to guide Budget expenditures ( e. g. Plan developed in 1990, and control development and Capital Improvements Plan) . updated in 2000 & redevelopment, as required must be concurrent with the 2011. per Florida Statute Chapter Comprehensive Plan. 163. Vision Plan Long Range Plan - Defines the broad, idealistic Outlines the general allocation developed in 1994, values that citizens cherish of resources to achieve the updated in 2004 & and desire for their desired service levels and 2011. community and creates shared quality of life. commitments among citizens, City Council, and staff. Strategic Plan Mid -to -Short Translates the Vision Plan Allows for the reallocation of Range Plan —first into current and future resources due to changing held in 2004 and priorities based on importance priorities or economic updated annually to City Council and funding conditions. availability. Budget Policy Short Range Plan - Defines changes to service