HomeMy WebLinkAboutAgenda BOC 062515AGENDA
CITY OF PALM BEACH GARDENS
BUDGET OVERSIGHT COMMITTEE
Thursday June 25, 2015, 8:30 AM
CITY COUNCIL CHAMBERS
I. CALL TO ORDER
II. PLEDGE OF ALLEGIANCE
III. ROLL CALL:
Regular Members
Mark Marciano Chair
L. Marc Cohn Vice-Chair
Mark Feldmesser Regular Member
Dennis Beran Regular Member
Mark Schulte Regular Member
IV. ADDITIONS, DELETIONS, MODIFICATIONS
V. APPROVAL OF MINUTES:
1. May 28, 2015
VI. ITEMS BY COUNCIL LIAISON
VII. ITEMS BY STAFF LIAISON:
1. FY 2016 Budget Update
VIII. OLD BUSINESS
IX. NEW BUSINESS
X. COMMENTS BY PUBLIC
XI. COMMENTS BY THE BOARD
XII. ADJOURNMENT
CITY OF PALM BEACH GARDENS
BUDGET OVERSIGHT COMMITTEE
FY 2016 Operating
and Capital Budget
Update
June 25, 2015
FY 2016 PROPERTY VALUATION
Total preliminary assessed property valuation
from PBC Property Appraiser -$9.4 billion
New construction/additions -$130 million
Increase of 6.8% from prior year
Generates approximately $3.3 million additional
revenue over last year
Property Appraiser to issue DR-420 Certification
of Taxable Value July 1st
PROPOSED MAXIMUM MILLAGE RATE
Preliminary budget holds the line on
operating rate –5.67; slight reduction in
debt rate from .1615 to .1375
Council will set the tentative maximum
millage rate at the meeting on July 1st
SIGNIFICANT ITEMS
No charges for solid waste collection
No utility service taxes
No storm water assessments
No change in communication service tax rate
Increases in Public Safety salaries per union contracts
(Fire contract currently being negotiated)
SIGNIFICANT ITEMS
Ad valorem revenues are up 6.8% ($3.3 million) at
proposed maximum rate of 5.67 mills
Other General Fund revenues are up 5.4% ($1.2 million)
Personnel and operating costs are up 4.2% ($2.7 million)
SIGNIFICANT ITEMS
Increases for SEIU and non-union salaries budgeted at 3%
No increase in health insurance (this will be the second
consecutive year without increasing our health insurance
rates)
Retirement contributions overall are up less than 1%
($46,073)
STORM WATER REPORT AND RECOMMENDATIONS
Storm water analysis draft expected by June 30th
–results of study could have a significant impact on
FY 2016 spending plan, e.g., use reserves; borrow;
pay-as-you-go using current revenue
WHAT’S NEXT?
Receipt and analysis of Storm Water Report; incorporate
findings into the proposed budget
Capital outlay plan is still being reviewed before finalizing
Line item worksheets will be sent to the BOC in July
Public budget hearings are scheduled for September 10th
and 17th
Next meeting of BOC: 7/23/2015
QUESTIONS?