Fort Walton Beach — Fiscal Year 2019-20 Adopted Budget — reading text

moderate income areas. MISSION Administer the Community Development Block Grant (CDBG) program in accordance with all Federal regulations. Actual YTD thru 06/30 Budget CURRENT GOALS, OBJECTIVES, & METRICS (FY20) 2015-16 2016-17 2017-18 2018-19 2018-19 2019-20 Eliminate Influences of Blight in Target Areas Nuisances Abated in Target Area 0 0 1 1 1 1 Improve Safety and Livability of Neighborhoods Capital Improvements Completed in Target Area 0 0 0 2 1 1 Provide Access to Quality Public and Private Services Summer Youth Program 4 0 0 2 5 5 After School Program Participants 0 0 10 0 n/a n/a Disburse Grant Funds in Timely Fashion Grant Funds Spent in Same Year Awarded 37% 100% 90% 100% 100% 100%  Increase access to quality public facilities and neighborhood livability by completing one capital improvement project.  Restore Summer Youth Program participation. FUTURE GOALS (FY21 & FY22)  Spend all grant funds in same year awarded.  Maintain a balanced approach to housing and community development needs. PRIOR YEAR ACCOMPLISHMENTS (FY19)  Eliminated blighted conditions on target areas by completing three nuisance abatement projects 122  Community Redevelopment Agency Fund The Community Redevelopment Agency (CRA) Fund encompasses 4.5% 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 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 $2,500,000 Budget. 2019-20 …… $ Change % Change $2,000,000 Ad Valorem Taxes 1,352,976 213,175 18.7% $1,500,000 Intergov’t Revenue 830,701 109,794 15.2% Interest & Other 32,457 0 0% $1,000,000 Approp. from Reserves 0 0 0% $2,216,134 $322,969 17.1% $500,000 $0 Actual Actual Actual Budget Budget 2015-16 2016-17 2017-18 2018-19 2019-20 Ad Valorem Taxes Intergov't Revenue Interest & Other Interfund Transfers Appropriations • The budget is predicated on reducing the City millage (Ad Valorem) rate to the rolled-back rate of 5.6395 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 3.8308 mills. Expenditure Highlights $2,500,000 Budget. $2,000,000 ……2019-20 $ Change % Change Personal Services 426,406 59,411 16.2% $1,500,000 Operations & Maintenance 386,159 59,205 18.1% Replenish Reserves 960,398 (64,483) (6.3)% $1,000,000 Interfund Transfer 178,171 3,836 2.2% $500,000 Capital Outlay/Imprvmt 265,000 265,000 100.0% 0 $2,216,134 $322,969 17.1% $0 Actual Actual Actual Budget Budget 2015-16 2016-17 2017-18 2018-19 2019-20 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Interfund Transfers Replenish Reserves • The increase in personal services and operating expenses is due to pay and classification changes related to internal equity and compression, as well as an increase is the City covered portion of employee insurance. • The increase in capital outlay is due to newly planned projects, specifically full renovation of the Landing. 123  109 COMMUNITY REDEVELOPMENT AGENCY FUND Actual Budget 2018-19 2019-20 % 2015-16 2016-17 2017-18 Adopted Adopted Change 787,039 802,377 837,841 865,478 2000-311-1000 Ad Valorem Taxes - City Original TIF 983,485 13.63% 230,503 234,074 252,373 274,323 2000-311-1100 Ad Valorem Taxes - City Expanded TIF 369,491 34.69% $ 1,017,542 $ 1,036,451 $ 1,090,214 $ 1,139,801 Total Ad Valorem Taxes $ 1,352,976 18.70% $ 1,017,542 $ 1,036,451 $ 1,090,214 $ 1,139,801 TOTAL TAXES $ 1,352,976 18.70% 468,029 476,794 553,733 553,733 2000-338-2000 Ad Valorem Taxes - County Original TIF 603,841 9.05% 142,868 136,344 167,174 167,174 2000-338-2100 Ad Valorem Taxes - County Expanded TIF 226,860 35.70% $ 610,897 $ 613,139 $ 720,907 $ 720,907 Total Local Shared Revenues $ 830,701 15.23% - - - - Prior Years Grants - 0.00% $ - $ - $ - $ - Total Grants $ - 0.00% $ 610,897 $ 613,139 $ 720,907 $ 720,907 TOTAL INTERGOVERNMENTAL REVENUE $ 830,701 15.23% 24,938 27,428 33,831 32,457 1500-361-1000 Interest Income 32,457 0.00% - - - - 1500-361-3000 Unrealized Gain/(Loss) - 0.00% - - - - 1500-361-4000 Realized Gain/(Loss) - 0.00% $ 24,938 $ 27,428 $ 33,831 $ 32,457 Total Interest Income $ 32,457 0.00% 12,000 - 1500-362-1000 Rental and Lease Income - 0.00% $ 12,000 $ - $ - $ - Total Rents and Royalties $ - 0.00% - - - - 1500-364-1000 Gain/Loss on Fixed Assets - 0.00% - - - - 1500-369-9000 Miscellaneous Revenue - 0.00% - - - - 2000-345-9019 Other Economic Env. Changes - 0.00% $ - $ - $ - $ - Total Other Revenues $ - 0.00% $ 36,938 $ 27,428 $ 33,831 $ 32,457 TOTAL INTEREST & OTHER REVENUES $ 32,457 0.00% - - - - 1600-389-9100 Appropriation from Fund Balance - 0.00% $ - $ - $ - $ - Total Non-Operating Sources $ - 0.00% $ - $ - $ - $ - TOTAL TRANSFERS IN $ - 0.00% $ 1,665,377 $ 1,677,018 $ 1,844,952 $ 1,893,165 TOTAL FUND REVENUES $ 2,216,134 17.06% 109-Revenues 9/19/2019 10:27 AM 124  109 CRA FUND - 2000 CRA