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Home My WebLink AboutPresentation_Special Meeting_9/21/2023Village of TequestaSeptember 21, 20232024 Budget Hearing-2023Village Council Budget Review 2 Final Budget Hearing September 21Future Meetings:First Budget Hearing September 14Budget Workshop August 14Budget Workshop July 31Budget Workshop June 20Budget Process Begins in MarchStrategic Initiatives in FebruaryKey Dates Budget Review 3 and vision. priorities, strategic plan, advancing the Village Council’s commitment to efficient and effective management of the Village’s many resources, while Proposed Budget represent a 24 -2023recommendations included in the Fiscal Year The residents and visitors alike. services to residents, as we continually strive to increase the quality of life for our Village staff developed the budget with the goal of providing a range of important year.the coming fiscal throughout roadmap of serve as a management guide, a planning document, as well as a financial Our Budget willObjectives: Desired Outcomes 4 23.-Adopt the Budget totaling $42,579,751 through adoption of Resolution 24mill reduction over last yearMillage Rate of 6.4595. Represents a 0.1695 23 with a-Resolution 23AdoptAt this hearing Village Council will be asked to: 0.0000 5 10% increase.Commercial property is limited to a limited to 10% increase.Homesteaded property is -Nonunits have the homestead protection.More than 90% of Village Residential CPI or 3% increase (whichever is less).Homesteaded property is limited to .Sea Glass Condominiumsconstruction, including the to new Significant portion of increase is due Overall Increase of 26.03% in the crease 2.56%DeMillage Rate 20.090813.46186.6290202320.632014.00306.6290202220.806414.17746.6290202121.025114.39616.6290202020.148313.85636.2920201920.443114.15116.2920201 820.929314.63736.2920201721.549215.25726.2920201621.763015.47106.2920201521.592115.54216.05002014Total Millage RateAll Other Taxing AuthoritiesVOT Millage RateFY All Other Taxing AuthoritiesVOT Millage Rate Years)Ten Fiscal (Last Millage Rate History 202220212020201920182017201620152014201325.000020.000015.000010.00005.0000 Budget Changes 6 Reduced Workers Compensation ($4,459).$1,164–Insurance Property/Liability/Auto/et al Increased ($3,295):–Expenditures, Net Reduction Building Fund:$44,062.-Insurance Increased Property/Liability/Auto/et al $15,940.-Increase Workers Comp for Multiple Departments ($60,002).–Reduced Allocate to Fund Balance for Final Insurance Costs $0:-Expenditures, net General Fund:24 -2023FY rom Final Budget Workshopf Budget Changes 7 200.Workers Compensation $Increased $200:–Expenditures, Net Increase $200.-Increase Appropriate Fund Balance $200:–Revenues, Net Increase Fund:Storm Water $2,592.Workers Compensation Increased 101,478.$–Increased Property/Liability/Auto/Et Al Insurance $104,070:–Expenditures, Net Increase $104,070.-Balance Fund Increase Appropriate $104,070:–Revenues, Net Increase Water Fund:24 -2023FY rom Final Budget Workshopf Budget 8.%33.41ofincreaseInsuranceCasualtyandPropertyaaswellasincreaseInsuranceHealth%3.6thecoveringandFirefightersadditionaltwoandPark,Remembranceofconstructionforfundingmaintenance,streetforFunds)C apitalto(transfersprojectsCapitaltomainlytodueoverall%1.8increasedFundGeneral•.improvementsinfrastructureFunds’UtilityWaterthetoduemainly23-2022FYoverincrease487,532,4$representsBudgettotal24-2023FYP roposed•–Summary FundFY 2022-23FY 2023-24$ Change% Change General$16,143,248$17,444,200$ 1,300,9528.1% Building845,5601,187,970 342,41040.5% Capital Projects1,218,1221,253,964 35,8422.9% Capital Improvement294,8952,084,895 1,790,000607.0% Water Utility17,927,66119,004,143 1,076,4826.0% Refuse & Recycling 601,972612,600 10,6281.8% Stormwater916,099827,318 (88,781)-9.7% Special Law Enforcement99,707164,661 64,95465.1% Totals$38,047,264$42,579,751$ 4,532,48711.9% General Fund 9Miscellaneous Other $653,207Charges for Services $1,498,500Intergovernmental $984,222Other Taxes $1,350,252General Property Taxes $11,524,090Revenues 5%Indirect Costs4%Misc. Other8%ServicesCharges for 6%RevenueIntergovernmental 3%Franchise Fees8%Other Taxes66%TaxesGeneral Property 444,200,7$1Proposed Revenues– General Fund 10 Debt Service $542,250Operating $1,765,006-NonCapital Outlay $23,688Operating Expenditures $4,331,725Employee Benefits $3,310,982Salaries & Wages $7,470,549Expenditures 3%Debt Service10%Expendituresoperating -Non25%ExpendituresOperating 19%BenefitsEmployee 43%WagesSalaries & 444,200,7$1Proposed Expenditures– General Fund Estimated-E 2023).ARPA Funds removed from calculations (1.5 million in FY 2021, $938K in FY 2022, and 491K in FY -@ operating expendituresDuring FY 2022 Village Council moved to increase our Target Fund Balance to three months -* (148,589) (211,846)548,961(330,092)(767,497)Under) Fund Amount Over/(3,884,9733,437,9252,819,744 1,884,304 1,479,005 @end ‐YearUnassigned 4,033,562 3,649,8772,270,783 2,214,396 2,246,502 )* (TargetMonths’ Expenditures Three 16,134,24814,599,085 13,357,547 13,286,377 13,479,010 ExpendituresCapitalless Expenditures FY2023EFY2022FY2021FY2020FY2019Description 11 001Fund – Building Fund 12$235,000.-Capital Expenditures $632,985.-Personal Services $319,985.-Operating Expenditures Expenditure Breakdown:Proposed usage of $564,262 in fund balance reserves.$15,000.Int erest Earnings Building permit fees budgeted at $608,708. $1,187,970:-Budget FY2023/2024  Building Fund Estimated-E Fund established FY 2020.-* 551,589 449,633 553,524236,463Under) Fund Balance Target Amount Over/(957,869832,828864,932 625,877end‐YearUnassigned Fund Balance at 406,280 383,195311,408 344,052 )Months’ Expenditures (TargetSix 812,560766,390 622,816 688,103 ExpendituresCapitalExpenditures less FY2023EFY2022FY2021FY2020 *Description 13 101Fund – Other Governmental Funds 14 Budget: $164,66124 -FY 2023 Enforcement TrustSpecial Law Budget: $2,084,89524-2023FY Capital Projects Budget: $1,253,96424-2023FY Capital Improvement Estimated Beginning Balance 10/01/23$ 794,424 Capital Improvement 15$187,010-Other Miscellaneous Projects $199,877-$50,000.-Sidewalk Grinding Machine$65,000. -Old $76,000.-Cardiac Monitors Two . $81,000-Twenty Tasers $175,077.-Constitutio n Park Skate Park Renovation$170,000.-Pathway & Sidewalk Improvements (25% Matching)$250,000. -Tequesta Park Improvements $1,253,964:-Budget 24 -FY 2023301 Fund–(Surtax Fund & Utility Tax) Estimated Cash Inflows: Budgeted Revenues 1,253,964 Less: Appropriated Fund Balance (481,909) Estimated Net Inflows 772,055 Estimated Cash Outflows: Budgeted Expenditures 1,253,964 Less: Allocate to Fund Balance - Estimated Net Outflows 1,253,964 Estimated Change in Fund Balance (481,909) Estimated Reserve Ending Balance 9/30/24$ 312,515 Estimated Beginning Balance 10/01/23$ 144,534 Capital 16$124,895.-Services Vehicle Replacement for Fire Services with PBC for Fire Committing half of contract amount $1,250,000.-$710,000.--Five$2,084,895:-Budget FY2023/2024 303 Fund–Project Estimated Cash Inflows: Budgeted Revenues 2,084,895 Less: Appropriated Fund Balance - Estimated Net Inflows 2,084,895 Estimated Cash Outflows: Budgeted Expenditures 2,084,895 Less: Allocate to Fund Balance (124,895) Estimated Net Outflows 1,960,000 Estimated Change in Fund Balance 124,895 Estimated Reserve Ending Balance 9/30/24$ 269,429 5Year Capital Improvement Program- Enterprise Funds 20$827,318Budget:24 -FY 2023 Stormwater Utility Fund$612,600Budget:24 -FY 2023 Fund$19,004,14324 Budget:-FY 2023 type Activities) -(Business Water Utility 21$650,000.-Relocation of Concentrate Disposal$1,210,000.-Bridge Water Main and Raw Water Main Relocation County Line $900,000.-Filter Plant Evaluation & Media Replacement$3,180,000. -Water Main Replacement Program $320,000.-Water Treatment Plant Train Replacement $6,365,000.-Improvements Water Treatment Plant Upgrades and Energy/Resource Charge.Rate Increase of 8.5% and $10/Month Capital Facilities $19,004,143:-Budget FY2023/2024 401 Fund– Est. Beg. Unrestricted Net Position 10/01/23$ 6,110,472 Estimated Cash Inflows: Budgeted Operating Revenues 8,291,872 Budgeted Non-Operating Revenues 57,272 Estimated Net Inflows 8,349,144 Estimated Cash Outflows: Budgeted Operating Expenses 6,552,043 Budgeted Non-Operating Expenses 2,403,000 Estimated Net Outflows 8,955,043 Estimated Change in Net Position (605,899) Est. Ending Unrestricted Net Position 9/30/24$ 5,504,573 Stormwater 22$26,000-Swale Restoration $26,000-Storm Water Pipe Replacements $100,000-Storm Water Pipe Lining $361,920-Dover Ditch Bank Restoration of Single Family HomesRate Increase of 5% which Equates to $0.55/Month for 68% $827,318:-Budget FY2023/2024 403 Fund–Fund Est. Beg. Unrestricted Net Position 10/01/23$ 86,423 Estimated Cash Inflows: Budgeted Revenues 827,318 Less: Appropriated Fund Balance (28,568) Estimated Net Inflows 798,750 Estimated Cash Outflows: Budgeted Expenditures 798,197 Less: Allocate to Fund Balance - Estimated Net Outflows 798,197 Estimated Change in Net Position 553 Est. Ending Unrestricted Net Position 9/30/24$ 86,976 Refuse & Recycling of manual.negotiating with WM for automated pickup instead During the upcoming fiscal year the Village will be Agreement. as detailed in the Village’s Solid Waste Franchise Waste Management (WM) increased rates by 3.5% $612,600:-Budget FY2023/2024 23 402 Fund– Est. Beg. Unrestricted Net Position 10/01/23$ 44,843 Estimated Cash Inflows: Budgeted Revenues 612,600 Less: Appropriated Fund Balance (19,697) Estimated Net Inflows 592,903 Estimated Cash Outflows: Budgeted Expenditures 612,600 Less: Allocate to Fund Balance - Estimated Net Outflows 612,600 Estimated Change in Net Position (19,697) Est. Ending Unrestricted Net Position 9/30/24$ 25,146 Staff Recommendations 24.23-24Adopt the Budget totaling $42,579,751 through adoption of Resolution mill reduction over last year23 with a Millage Rate of 6.4595. Represents a 0.1695 -Adopt Resolution 23 Required Trim Public Announcements 52 Remembrance Park project and increase to personnel and benefits. establishes a sustainable funding source for street and sidewalk improvements, fund The additional ad valorem taxes will be used to fund two additional firefighters, 5.7560 mills.back rate is -rolledthe The proposed operating millage rate necessary to fund the budget is 12.22% greater than The proposed millage rate is 6.4595.revenue as prior year, adjusted for new construction.Back rate is the millage rate that would bring the same amount of ad valorem tax -Rolledof Tequesta.  Questions 26 ❖ The name of the Taxing Authority is Village of Tequesta. ❖ Rolled -Back rate is the millage rate that would bring the same amount of ad valorem tax revenue as prior year, adjusted for new construction. ❖ The proposed millage rate is 6.4595. ❖ The proposed operating millage rate necessary to fund the budget is 12.22% greater than the rolled -back rate is 5.7560 mills. ❖ The additional ad valorem taxes will be used to fund two additional firefighters, establishes a sustainable funding source for street and sidewalk improvements, fund Remembrance Park project and increase to personnel and benefits. 26 Questions