HomeMy WebLinkAboutAgenda BOC 062316AGENDA
CITY OF PALM BEACH GARDENS
BUDGET OVERSIGHT COMMITTEE
Thursday June 23,2016, 8:30 AM
Lobby Conference Meeting Room
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. ELECTION OF OFFICERS:
1. Election of Chair
2. Election of Vice-Chair
V. ADDITIONS, DELETIONS, MODIFICATIONS
VI. APPROVAL OF MINUTES:
1. August 13, 2015 Minutes
VII. ITEMS BY COUNCIL LIAISON
VIII. ITEMS BY STAFF LIAISON:
1. FY 2017 Budget Update
IX. OLD BUSINESS
X. NEW BUSINESS
XI. COMMENTS BY PUBLIC
XII. COMMENTS BY THE BOARD
XIII. ADJOURNMENT
City of Palm
Beach Gardens
Budget
Oversight
Committee
FY 2017 Operating and Capital
Budget Update
June 23, 2016
Introductory Comments
Budget worksheets previously
distributed are “working
documents”, and are subject
to further review and changes
Introductory Comments
Changes since worksheets were
distributed:
•Adjustment to health insurance funding
~($1,200,000)
•Adjustments to Golf Fund ~($109,000)
•Adjustments to Recreation Fund ~($162,000)
•Adjustment to Transfers ~($80,000)
Introductory Comments
Fire staffing analysis is
pending
5 year General Fund forecast
is pending
FY 2017 Property Valuation
Preliminary
assessed property
valuation from PBC
Property Appraiser
-$10.1 billion
New construction -
$131 million
Increase of 6.9%
from prior 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 –5.55;
slight reduction in debt rate
to .1281 from .1375
Council will set the tentative
maximum millage rate at the
meeting on July 7th
Preliminary Summary of All
Funds
Proposed
2017
Adopted
2016
Increase
(Decrease)
% Change
Beginning Balance $38,529,673 $39,728,985 ($1,199,312)(3.0%)
Revenues 100,411,708 97,339,074 3,072,634 3.2%
Total Revenues and Sources $138,941,381 $137,068,059 $1,873,322 1.4%
Ending Balance 38,296,335 35,629,442 2,666,893 7.5%
Expenditures 100,645,046 101,438,617 (793,571)(.8%)
Total Expenditures and Uses $138,941,381 $137,068,059 $1,873,322 1.4%
Preliminary Summary of
General Fund
Proposed
2017
Adopted
2016
Increase
(Decrease)
% Change
Beginning Balance $29,355,135 $29,908,904 ($553,769)(1.9%)
Revenues 81,208,468 75,175,470 6,032,998 8.0%
Total Revenues and Sources $110,563,603 $105,084,374 $5,479,229 5.2%
Ending Balance 29,026,091 27,464,478 1,561,613 5.7%
Expenditures 81,537,512 77,619,896 3,917,616 5.0%
Total Expenditures and Uses $110,563,603 $105,084,374 $5,479,229 5.2%
General Fund Revenue
Highlights
Ad valorem revenues are up 6.9%, or $4
million, at proposed maximum rate of 5.55
mills
Other General Fund revenues are up 7.6%
$1.8 million
General Fund Expenditure
Highlights
Total General Fund expenditures are up 5% $3.9
million
Increases in salaries per union contracts (Police
contract going to Council on July 7th) $1.2 million
and 10 new Firefighters $900,000
Personnel highlights
Budget includes
24 requested new
full-time
positions:
4 are emergency
communications
employees funded
by NMRCC
10 new
firefighters to fully
staff Station 4
3 maintenance
positions for City
Park
Personnel highlights
Budget includes
24 requested
new full-time
positions (cont.):
3 are existing
part-time
positions
2 are funded
through Golf
Special Revenue
Personnel highlights
Budget includes
24 requested
new full-time
positions (cont.):
1 GIS analyst 1 Public Media
Specialist
Other Significant items
Credit of $1.2M from
health insurance
(this follows two
years without
increasing our health
insurance rates)
No charges for solid
waste collection
No utility service
taxes
Other Significant items
No City storm water
assessments
No City fire
assessments
Other Significant items
Unassigned Reserves
in FY 2017 General
Fund budget total
$23.1M; Budget
Stabilization Reserve
is $2.1M
What’s next?
Next meeting of BOC: July 28th
Public budget hearings are scheduled
for September 8th and 22nd
Questions?