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BUDGET OVERSIGHT COMMITTEE
January 27, 2005
Minutes
The Budget Oversight Committee met on January 27, 2005. The meeting was called to
order at 1:05 PM in the Council Chambers of the Municipal Complex, located at 10500
North Military Trail, Palm Beach Gardens, Florida, and opened with the Pledge of
Allegiance.
I. ROLL CALL
Present: John Chaplik, Martin Cohen and Maureen Maquire
Also Present: Allan Owens, Staff Liaison and Finance Administrator, Mary
Anderson, Alternate Staff Liaison and Finance Manger, and Christine Tatum, City
Attorney.
H. SELECTION OF OFFICERS
The Committee selected John Chaplik to serve as Chair and Maureen Maquire to
serve as Vice Chair.
III. APPROVAL OF MINUTES
The Committee approved the minutes from the August 11, 2004 meeting.
IV. ORIENTATION SESSION
The board was given an orientation session that was led by Christine Tatum, City
Attorney. The orientation included the background and overview of the City's
Boards and Committees, the powers and duties of the Budget Oversight
Committee, the Florida Sunshine Law, public records requests, ethics and
financial disclosure. All board members were given a Board and Committee
notebook that explained in detail, everything that was discussed in the orientation.
V. OLD BUSINESS
Questions about the Budget Materials
John Chaplik asked Alan Owens to explain about the City's major revenue
sources, including property taxes and homestead exemption. Alan explained that
anyone who qualifies for a homestead exemption will get a $25,000 exemption.
If you do qualify for the homestead exemption you are limited to the increase of
net valuation from year to year to no more than 3 %. In addition, there is also a
price index that is used by the State.
John Chaplik asked how property is revalued after it is sold. Alan stated that
when a property is sold the purchaser's taxable value will be reassessed at the true
market value by the Tax Collector's Office.
Martin Cohen asked as far as the city is concerned, what is the aggregate value of
the homestead exemption multiplied by the rate of taxes. Alan stated that he
didn't have the total in his head but he would come back with this information.
He said the total valuation of the exempted property was about 1.8 million dollars
but, again, he was not totally sure and he will get back with him.
John Chaplik asked Alan if he knows what percentages of homeowners have a
homestead exemption. Alan stated he will also look into that and come back.
There was discussion about the golf course. Upon the Boards request, Alan gave
background information about the golf course, which included how the golf
course was attained by the city, history of the revenues and the budget for the golf
course.
There was discussion about the Board's concern over growth in the City and what
happens when a level of maturity occurs and when the sources of revenue that
were there during the growth period have been exhausted. How far ahead is the
City planning for when maturity occurs? Alan stated that administration is
looking into the need to diversify the revenues. About 2 years ago they hired an
economic development administrator in the pursuit of trying to expand the
economic base of the City through diversification.
John Caplik stated and the Board agreed that this meeting has been very
informative. Alan thanked the members of the Board for serving and said that
staff appreciates the interest the committee has taken in this process.
VII. ADJOURNMENT
There being no further business to discuss, the meeting was adjourned at 2:36 PM
Approval:
Jo Chaplik
�m G'�
Martin Cohen
Maureen Maquire
Attest:
Susan Bell
Public Information/ Recording Coordinator
2
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Martin Cohen asked as far as the city is concerned, what is the aggregate value of
the homestead exemption multiplied by the rate of taxes. Alan stated that he
didn't have the total in his head but he would come back with this information.
He said the total valuation of the exempted property was about 1.8 million dollars
but, again, he was not totally sure and he will get back with him.
John Chaplik asked Alan if he knows what percentages of homeowners have a
homestead exemption. Alan stated he will also look into that and come back.
There was discussion about the golf course. Upon the Boards request, Alan gave
background information about the golf course, which included how the golf
course was attained by the city, history of the revenues and the budget for the golf
course.
There was discussion about the Board's concern over growth in the City and what
happens when a level of maturity occurs and when the sources of revenue that
were there during the growth period have been exhausted. How far ahead is the
City planning for when maturity occurs? Alan stated that administration is
looking into the need to diversify the revenues. About 2 years ago they hired an
economic development administrator in the pursuit of trying to expand the
economic base of the City through diversification.
John Caplik stated and the Board agreed that this meeting has been very
informative. Alan thanked the members of the Board for serving and said that
staff appreciates the interest the committee has taken in this process.
VII. ADJOURNMENT
There being no further business to discuss, the meeting was adjourned at 2:36 PM
Approval:
Jo Chaplik
�m G'�
Martin Cohen
Maureen Maquire
Attest:
Susan Bell
Public Information/ Recording Coordinator
2