HomeMy WebLinkAboutDocumentation_Planning and Zoning_Tab 02_1/16/2025 Agenda Item #2.
Infrastructure Surtax Oversight Committee
STAFF MEMO
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Meeting: Infrastructure Surtax Oversight Committee - Jan 16 2025
Staff Contact: Jay Hubsch Department: Community Development
Discussion of the 2024 Village Surtax Expenditure Report
The Village's Planning and Zoning Board holds an annual meeting as the Infrastructure Surtax
Oversight Committee. The Committee is tasked with reviewing the Village's yearly surtax
expenditures.
In 2024, the Village received $615,414 in infrastructure surtax revenue, maintained $967,370 in
reserve, and made $32,496 in interest income off the money being held in reserve. In 2024, the
Village spent $1,213,790 on seven projects with surtax funds. Further detail can be found in the
attached report. Additionally, the Village's Finance Director or Public Works Director will provide a
presentation to the PZB about the 2024 expenditures at the meeting.
This document and any attachments may be reproduced upon request in an alternative format by
completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561-
768-0443.
BUDGET INFORMATION:
BUDGET AMOUNT n/a AMOUNT AVAILABLE n/a EXPENDITURE AMOUNT: n/a
FUNDING SOURCES: n/a IS THIS A PIGGYBACK:
❑ Yes ❑ N/A
DID YOU OBTAIN 3 QUOTES?
❑ Yes ❑ N/A
QUOTE AMOUNT 6
QUOTE AMOUNT6
COMMENTS/EXPLANATION ON SELECTIONn/a
Infrastructure Surtax Cover- 2024 Final
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Agenda Item #2.
,A
Memorandum
TO: Village Infrastructure Surtax Citizen Oversight Committee
FROM: Jeff Snyder, CPA, Finance Director
DATE: January 3, 2024
SUBJECT: Infrastructure Surtax Annual Report—Fiscal Year 2023-24
During the fiscal year ended September 30, 2024, The Village elected to use infrastructure surtax funds on the
following qualified expenditures:
Description of Expenditure Amount
Country Club Community Roads& Drainage Improvements $ 1511321
El Portal Road & Drainage Improvements 402,328
Skate Park Renovation 160,295
Remembrance Park- Partial Funding 199,887
Tequesta Park Pickleball/Tennis Sidewalk 27,136
Monitor/Defibrillators (Two) - Fire Department 921012
Sidewalk Improvements Seabrook Road 180,811
Totals $ 11213,790
Please find below a summary of the revenue and expenditures to date as of September 30, 2024:
Fiscal Year Past Years 2020 2021 2022 2023 2024 To Date
Taxes Received $ 1,116,615 $404,870 $473,106 $568,037 $603,101 $ 615,414 $3,781,143
Investment Income - 3,484 347 102 17,825 32.1496 541254
Expenditures (693,861) (312,858) (932,531) (59,112) (221,755) (1,213,790) (3,433,907)
Balance, End of Year $ 422,754 $518,250 $ 59,172 $568,199 $967,370 $ 401,490 $ 401,490
If you have any questions, please do not hesitate to contact me at 561.768.0424.
cc: Jeremy Allen, Village Manager
Jay Hubsch, Community Development Director
Doug Chambers, Director of Public Works
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