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Home My WebLink AboutDocumentation_Special Meeting_Tab A ii_09/16/2004 � �. i ,� � ORDINANCE NO. 594 , AN ORDINANCE OF THE VII.LAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACFI COUNTY, FLORIDA, PROVIDING FOR THE ADOPTION OF THE BUDGETS FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2004. ' WHEREAS, it is necessary for the Village to adopt the budgets for this fiscal year commencing October 1, 2004; and � WHEREAS, the Village Council of the Village of Tequesta, Florida, held Public :: Hearings on September 16, 2004, and September 30, 2004 on the budgets for the Fiscal ' Year commencing October 1, 2004. ` NOW, THEREFORE, BE IT ORDAINED BY THE VII..LAGE COUNCII. OF THE VII.LAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA AS FOLLOWS: SECTION 1.: The budgets for the Fiscal Year commencing October l, 2004, attached ; hereto and marked "Exhibit A" and made a part of this Ordinance are hereby adopted. SECTION 2.: The Village Manager is hereby authorized to execute "Intra-fund" budget transfers within the line item appropriations of individual Village Fund Budgets, in accordance with the procedures of the Village Council that separate transfers in excess of .$5,000.00 are to be submitted, for information to the Village Council through the Consent : Agenda. The Finance Director through the Village Manager will advise the Village Council at any time that additional reserves are required that will ultimately result in the original budget being exceeded. SECTION 3.: The Village Council has elected to review the budget as provided by the Village Manager and the Finance Department, at their first regularly scheduled meeting in April, or more frequently as needed. SECTION 4.: Effective Date. This Ordinance shall take effect immediately upon its passage and approval. ` THE FORGOING ORDINANCE, upon being put to a vote the vote was as follows: FOR ADOPTION AGAINST ADOPTION C'.E� .� . . � � �, MEMORANDUM TO: Mayor and Council FROM: Gwen E. Carlisle, Village Clerk�'� -� DATE: September 15, 2004 SUBJECT: Revised Ordinance 594, FY Budget 2004/2005 For your information, Section 2 and Section 3 of Ordinance 594 was revised to reflect Council's comments during the Budget Workshops. j � ORDINANCE NO. 594 AN ORDINANCE OF THE VII..LAGE COUNCIL OF THE VII�LAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR THE ADOPTION OF THE BUDGETS FOR THE FISCAL YEAR COMMENCING OCTOBER l, 2004. WHEREAS, it is necessary for the Village to adopt the budgets for this fiscal year commencing October 1, 2004; and WHEREAS, the Village Council of the Village of Tequesta, Florida, held Public Hearings on September 16, 2004, and September 30, 2004 on the budgets for the Fiscal Year commencing October 1, 2004. NOW, THEREFORE, BE IT ORDAINED SY THE VII.LAGE COUNCIL OF THE VII.LAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA AS FOLLOWS: SEGTION 1.: The budgets for the Fiscal ITear commencing October l, 2004, attached hereto and marked "E�ibit A" and made a part of this Ordinance are hereby adopted. c.1'' °"`�c` SECTION 2.: The Village Manager is hereby authorized to exec e"Int�fund" budget transfers within the line item appropriations of individual V' age Fund Budgets, in accordance with the procedures of the Village Council that transfers in excess �f ��- $5,000.00 are �ed to be submitted the,�,V' a e C uncil�`�`T�ie mance '• tor �� the Village Manager �l�.ad�e �le illa�ge Gburi il at any time that addition reserves are required that w' ultimately result ' the original budget being exceeded. . , �, �,� � SECTION 3.: The Village ouncil has ele d to review the budget as provided by the �. Village Manager and the Finance Departmen , at their first regularly scheduled meeting C � ,� in April, or more frequently as needed. ��`�' SECTION 4.: Effective Date. This Ordin ce shall take effect immediately upon its passage and approval. THE FORGOING ORDINANCE, upon being ut to a vote the vote was as follows: M FOR ADOPTION � f t AGAINST ADOPTION � w The Mayor thereupon declared the Ordinance duly passed and adopted this 16th day of September, A.D., 2004. Pat Watkins, Mayor Gwen Carlisle Village Clerk • • r� ORDINANCE NO. 594 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR THE ADOPTION OF THE BUDGETS FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2004. ' WHEREAS, it is necessary for the Village to adopt the budgets for this �� fiscal year commencing October 1, 2004; and � WHEREAS, the Village Council of the Village of Tequesta, Florida, held Public ; Hearings on September 2, 2004, and September 16, 2004, on the budgets for the Fiscal '` Year commencing October 1, 2004. � NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE ;: VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA AS � FOLLOWS: ' SECTION 1.: The budgets for the Fiscal Year commencing October 1, 2004, attached �` hereto and marked "Exhibit A" and made a part of this Ordinance are hereby adopted. � SECTION 2.: The Village Manager is hereby authorized to execute "Intra-fund" transfers within the line item appropriations of individual Village Fund Budgets, as he ' deems necessary throughout the fiscai year, to enable continuity of municipal operations. `SECTION 3.: Effective Date. This Ordinance shall take effect immediately upon its ;passage and approval. ''THE FORGOING ORDINANCE, upon being put to a vote the vote was as follows: FOR ADOPTION AGAINST ADOPTION : The Mayor thereupon declared the Ordinance duly passed and adopted this 16th day of '�September, A.D., 2004. Mayor Pat Watkins Village Clerk r � R 1�� ` �'�`�'� �� v �� P ��`� Vice Mayor Genco indicated a policy needed to be established since the budget had been �� exceeded last year. Mr. Couzzo indicated revenues were up 2% even with the sale of'the property taken out. Ms. Forsythe explained the number was without the sale. A memo dated August 11, 2004 was discussed. Vice Mayor Genco commented the change of $346,771 was taken out of savings. Ms. Forsythe explained that estimated total revenues would exceed what the amended budget was even without the property sale. Councilmember Resnik commented it was his understanding that the Village Council had been approving additional money throughout the year as necessary, which totaled the $346,771. Vice Chair Genco explained that money was approved by resolution but the Village Council never amended the budget, and she never realized it was not being appropriated from the general fund but was being taken out of the savings account and moved to the general fund and then it was spent, which made a big difference, because it put you over your budget and you did not really know what had changed in your budget. Vice Mayor Genco commented that transferring from one department to another was more of an issue than transferring from one account to another within the same department, but those were the types of things the Village Council needed to be advised of, and there were so many journal entries in April she gave up trying to add them. Mayor Watkins commented if something came to Village Council, she assumed it was for something not budgeted for, to which Mr. Couzzo responded it could be for something budgeted that cost more than the budgeted amount, a department might have made some money and now they could buy something they needed, etc. The Vice Mayor explained a good example was when a fire truck was budgeted and the contract received—it went to Council for approval and the amount might not be exactly the budgeted amount, and the Council would not know if it was coming from a savings account or the budgeted item. Finance Director Forsythe advised the only people who had authority to appropriate anything was Council; they appropriated the budget am.ount each year and whenever they saw "to appropriate funds" that should tell them more money was needed in the budget to do a project. Councilmember Resnik asked if when Council approved the $25,000 for legal fees for Community Development by a resolution for appropriating funds if they had also approving the increase to the budget. Mr. Couzzo explained it was coming from savings; there were several budgets totaling $6 million with very small appropriations. Tom Paterno confirmed that Mr. Couzzo was saying, as an example, that the proposed budget was $6 million, and the old budget had been exceeded by $300,000.00+ by appropriations from Council which they did not realize would exceed the budget by that amount. Mr. Couzzo explained it was proposed to bring the Community Development budget into the general fund instead of being an enterprise fund. Each budget had nothing in common, and by appropriating funds for items it was accurately portrayed. Village Manager Couzzo explained how appropriated fund balances were accurately portrayed. Mr. Couzzo explained that all the entries in April had been made because it was decided to do all them at mid-year, which he believed was in concert with what the Vice Mayor was saying—that mid-yeax Department Heads would look at their budgets and note, for example, office supplies was under and building maintenance had a little more; so a decision could be made to transfer $400 from building maintenance into office supplies to buy a new chair. This would keep within their budget. The Apxil entries were made all at once to benefit Finance. Discussion ensued regarding adjustments for such items as gasoline. Vice Mayor Genco advised she was � s not questioning entries for items needed for daily operations, just large amounts, of which there were several entries, which were cumulative, and these were why a budget adjustment needed to come back before Council. Mr. Couzzo suggested establishing a threshold of $5,000 and bringing the others back before Council, and that would be a policy decision by the Council. These were entries that were inter-departmental. Examples of different entry items were discussed. Mr. Couzzo indicated that when faced with a shortage in one area, staff tried to find the money internally, but that could be changed if Council wanted it brought before them to be taken from savings. Mr. Couzzo explained that not enough had been budgeted for the overtime buyback and staff had pulled funds from different parts of the budget to pay for it. Vice Mayor Genco responded that would have been the time to go to Council to tell them that overtime buyback was going to cost a lot more money than had been anticipated, and she wanted to know when something was going to cost ten times more than anticipated that was her responsibility. Mr. Couzzo indicated that could be brought back to Council. Vice Mayor Genco commented a projection should be much more realistic and any significant deviation should come before Council. Vice Mayor Genco commented the results were fine--her issue was she felt a high degree of responsibility to account to the residents and it upset her that the budget changed and she did not know about it. Councilmember Resnik asked how this would be handled. Mr. Couzzo advised he would be happy to place significant deviations on the consent agenda at a regular meeting, and they could be pulled for discussion if desired. Vice Mayor Genco recommended a dollar amount be set. Mr. Couzzo indicated he would provide quarterly to the Council complete analysis of all revenues and all expenditures in all funds and if it exceeded $5,000 or 5%, whichever was greater, 5% deviation over budgeted amounts could be looked at to see if it was cumulative, it would be on consent agenda. Ms. Forsythe indicated the system would not allow Finance to catch cumulative entries except quarterly. Vice Mayor Genco asked that Ms. Forsythe develop a way to do this. Councilmember Humpage asked if all the April entries had exceeded the budget; Vice Mayor Genco responded it was not exceeded because funds had been appropriated in from the fund balance. Ms. Forsythe explained one part of the picture was the $346,000+ which Council had appropriated for additional funds; the other was when separate line items within one budget were going to be exceeded and departments were asked to find funds within their budget to pay for those line items. Councilmember Humpage asked that when the money was going to come from reserves that the request be highlighted in some way to notify Council. Ms. Forsythe responded that any time Council heard the word "appropriate" that meant more money was needed than had been budgeted and it was coming from reserves. w k 4 , ,� � �. i�r� n,�• .. THE VILLAGE OF TEQUESTA PROPOSED BZJDGET FIS CAL YEAR 2004-2005 "� �ID �ET IN BR��"F" , �,�. ,,.. * � � -.� �y � �t; - ,r� � � �� i�=� � �� - , . � �. �r'r • � ^�, � � r +� ,., '��, ..I _- <"Ixu _ - +.<� `�a • ' f . - - — � ,,�;.� �.�., - : -- �. . .... . ... ... ... ...,,,... , ... . .. :. .- , _�� . �N.. tr� � ;� ' � i 'A , � e � � �l i� r , � � -�i ., � ' '7 � - L t � '��r "'�i -� _ - ,, :.�• � � ;..� ,;.., � Ncti�- Tccli�e.rlu V��/Ictge Hall (�pertirtg LcUe 1�'rrll, ZDOS Cornrnurii.ty /s�T.richnzerit "A res��lt qf pratder�t, res�onsdblc� pl«r�nifrg cr�ad ac.coiar.tc�hilr�h�" x Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief � �" . . "'��^ '�s, " , ''h�. �.r ' ,"� aa 3�, ...: 'x.��' . Mx�, ��;�;�. .�.'��v: ^^�, ,� „ r,;'�.. �,„� �w .2 s�° d� p,, ;� � .�r,, , i� &,,. �`.•�' �$�' R �,�r "ks w� � .y' ' s*^,+" ry m.`� i �,+kE . �a , a' � o�� . "t+ � " C'�� ;, s� " 4 ;�� S` ��".�' ,�a a , �' �.� . .,a. a � „ � .�+s '° � ,"�"+�'.� �* , �°� r�m a �+� �. , � , , �, ��.�. , ��, rt++., - , � »� , � �"�. .w� $„� �� .� � �:, . ^` �'� ��' �� " ....�..« � �i�' _ e .,,. . h� �„ � �� w.xa'}.. �"�w�`4 x »»w^ ., r„ ,... . ... �.. .,, , �' i,,,�', � � �., +.. ��^�, �u`�,: . Patricia Watkins Mayor Geraldine A. Genco Vice-Mayor Russell J. Von Frank Councilmember Edward D. Resnik Councilmember James R. Humpage Councilmember 1 � Village of Tequesta, Florida FY 2004-2005 Budget in Brief s Villa�e of Tec�uesta 250 Tequesta Drive, Suite 300 Tequesta, FL 33469 Office of the Village Manager (561)575-6200 Honorable Mayor and Members of the Village Council: In accordance with the Village Charter of the Village of Tequesta, I respectfully submit for your consideration the proposed Fiscal Year 2004/2005 budget. The total proposed expenditures of the General Fund, Special Revenue Fund, Capital Improvement Fund and Capital Projects Fund Budgets (excluding inter-fund transfers) is $10,981,239, which represents a$3,749,155 (52%) increase from the prior year. Approximately 80% ($2,981,058) of that increase is due to additional capital projects budgeted for 2005 of which $2,426,420 (65% of the increase in these funds) is budgeted to build the Village of Tequesta Municipal Center. The remaining 20% increase ($764,222) is due to increase in operations within the General Fund. The total proposed expenditures of the Water Utility, Refuse and Recycling and Stormwater funds proposed budgets (excluding inter-fund transfers and Fund BalancelReserves) is $6,208,425, an increase of $1,312,912 (27%) from the prior year. The majority of this change is due to an increase of $1,309,570 in the amount budgeted for capital expansion in the Water Utility. The budget is based on an ad valorem property tax rate of 6.4980, which is the same as the prior year. Additionally, there are no proposed increases in the stormwater utility fees or solid waste collection rates for the 2004-2005 fiscal yeax. The proposed budget is presented as a collaborative effort. It reflects considerable input and analysis from the Village Council, the administration and residents. The Village of Tequesta is one of the well-established communities in Palm Beach County located in the extreme 2 . Village of Tequesta, Florida FY 2004-2005 Budget in Brief ` northeastern quadrant. It is a relatively affluent residential community with adequate commercial facilities necessary to provide goods and services to its residents. Although Tequesta's growth potential is restricted by the natural boundaries of the Atlantic Ocean to the east, the Loxahatchee River to the west, the Town of Jupiter to the south and Martin County to the north, Tequesta's growth potential for the foreseeable future continues to be favorable. Data from the Palm Beach County Tax Appraiser's Office indicates a Village property assessed valuation of $714,639,727, an increase of 18.7%, in the assessed valuation as compared to the fiscal year 2004-2005 assessment. New construction and general appreciation in property values are important factors in stabilizing the Village millage rate while undertaking major capital improvement projects. The Village will continue to monitor property values to ensure that any indication of negative developments will be immediately addressed to maintain the financial integrity of the Village. This administration will continue to explore potential sources of new revenues, such as expanding the Village water system, aggressive pursuit of our annexation efforts, and grant/appropriation sources. As Village Manager, I remain committed to fiscal conservatism. I believe that we should avoid an increase in our millage rate, while at the same time continuing to improve the high level of service that our residents have come to enjoy. In the upcoming fiscal year, the Village will undertake a number of significant capital improvement projects that will enhance the community for decades to come. Sincerely, Michael R. Couzzo Village Manger 3 . Village of Tepuesta, Florida FY 2004-2005 Bud�et in Brief � a, �, .. � �, ., ,. � � � r �"s'� "�m - �^:�^ r>t ��k "' � � �: �t ww J � a��,�ro F t , ^d�",+�' � � , e ,. �,' ,, � ��. , e « µ. "k'. ., fi � "�;�:� ""� ' +'' , y .s ,. � � � A r �' ,�^�• . k a � � +€`� , p � & •'� . x � "�i ^� � '��. u� t�t,a�� W �" � �'` t ., k b 4 u S+d� } "�"'''Y 2�'� � �y � '' l�� . . ��.y,E . w ��' Mn,, �, i� ` ,;k+ �n�,�� . x � i . ��m�� : +i+� ' pk n 3 x „w.�. . w?�� , � .:," . k e "., . � �", ' « " i rs� ��. z � �" ° �, „ � a � � vE t '. ' � M r t� 4 � � . � n. y �,. � y � �.. � % . � � � � � d ... r � . ",�,'�4... �;4... Sn�: � , �` 5 � �x '�!. e' � .,:�'� � �" �' ".„ t �' '. s��'� .» � � � e � t �, � s a� , . •""�"«� '. s "� , � , :. , �� 7 �� "` u�� my.�� .,,?�'" ' '�'' � t , ` . `.. .' __ .., �,' ' , ` ��. Yk � �i �� a�N�� M. �,� i ,� �. M �.�, _ � �� ,: �,� � _ _ �.. . . .a; �.�.,� . w�,wa� �.� � ��.r. �,� Q. What is the purpose of the Village budget? A. The budget is an annual financial plan for the Village of Tequesta. It specifies the level of municipal services to be provided in the coming yeax and the resources, including personnel costs and positions, capital expenditures, and operating expenses needed to provide those services. It reflects the policies and priorities set by Village Council. Q. Iiow and when is the budget prepared? A. The Village departments meet with and submit their plans and needs for the coming year to the Finance Depariment, which compiles a proposed budget. The Village Manager reviews and then submits the Manager's recommended budget to the Village Council. The Village Council reviews the budget, holds workshops for discussion on the budget and holds two public hearings to obtain citizen input and make changes prior to adoption of the budget. Finally, the Village Council adopts the approved budget along with an ordinance establishing the property tax rate (millage) required to fund the budget. Q. Who established the rules by which the Village of Tequesta adopts its annual budget and property tax rate? A. The property tax rate and budget adoption process are governed by both the Village Charter and State Statutes. Q. Who is the Chief Executive Officer of the Village of Tequesta? A. The Village Manager is both the Chief Executive and Chief Administrative Officer of the Village of Tequesta. This individual is hired by and reports directly to the Village Council. All other employees are hired by and report to the Village Manager. Q. What is the property tax rate? A. When the Village adopts its annual budget, it determines the tax rate that must be applied on property in order to generate the necessary revenue in addition to all other sources that are available. This t� rate is sometimes called the "millage rate". The Palm Beach Couniy Property 4 , Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief r ., . �. . , � �� :, ,„w ;,, �.�� ,:�� f .,�, � �� ,;� �fu . � �� , r;;. � � _'� , # � �, . �;� ° «� ,, �„ �,w �, t ,, , . � � � � �� . � � �� «� ��"`" �s, ;. r, "'� ;'y �?�„ - �' �r�,fl";� . + ' � . :" ,:, , . ,.. .. t• £ ,�w� � � . ,. ,�(y, .. ,... � � � . •' ,�v+y ^ k' 6 �.. x �� r ` ' S p � �r ' " ' � .:� y$ �� . �'^X aG$' �: v � '� � ..: � . �� * � 4i ' ` � �'':, � � � K �,"" g$ �, . , , „ a � , 4,,. . , �.o :Rtl � .r , 0. . ;n R �,; ' " �" � 0� � k%� � �.: a , ...ri ..�.v �_ _ � , � _ . e . �.. » ' '.� �. . .. , ��.av . t e Appraiser establishes the taxable value of all properiy in the Village. The Village has no control over the taxable value of property; it only has control over the tax rate that is levied. Q. The total property tax rate for 2003 on property in the Village of Tequesta was 23.0906 mills. How much of that was paid to the Village? A. Only 6.498 mills of the 23.0906 mills levied in fiscal year 2003 was paid to the Village. This represents only 28.1% of the total property tax bill. Other taxing agencies in Palm Beach County include Palm Beach County, Palm Beach County School Board, South Florida Water Management District, Jupiter Inlet District, Florida Navigational Inland District, Children's Service Council and the County Health Care District. Q. What is the difference between ad valorem tax and property tax? A. There is no difference. They are different names for the same tax. Q. What is an Operating Budget? A. An Operating Budget is an annual financial plan for recurring expenditures, such as salaries, utilities, supplies, insurance, and equipment repairs. Q. What is a Capital Improvement/Projects Budget? A. A Capital Improvement Budget is a financial plan for the construction of physical assets, such as buildings, streets, sewers, and vehicles and equipment. Q. What is a fund? A. A fund is a separate accounting entity within the Village that receives revenues from a specific source and expends them on a specific activity or activities. 5 r Village of Tequesta, Florida FY 2004-2005 Budget in Brief Y � _ � � , � ;� ��,- �«. „, � x � ,� � �� y , ��.. �,,.;° {„ � �,„ . »,� � ' � ' r � ,�' ,�."� a � � '�. � � �. �, � �� ` '.,� � � � ��s � � +"� a � f y r e : � . �` , t� . e' r '�nh',��f��*"� Y��tv,, ' , .. �� „, ; '�" 'w�,�f"�� ,H+;� a�,;.:. '"u��& x ° �„ �� ° ��.. .° „ � � . � z . �� ^„. .��, . � �t� � w� � ��. µ � ��M. ,x� . , . A � �� „ , � , . � ; w ... „ � , . � .. . . . ..,... __. : . ., .. , ... � . , ... _ . , , �* ,. � . . .�..•�•. . .�,,. ,a .: � rwy�.,�N, . _ .. � ��. . . � . ...w. ,- , : ��+.at �4"�`a' , .. „ . Q. What is a fiscal year? A. A fiscal year is a 12-month operating cycle that comprises a budget and financial reporting period. The Village's fiscal year, along with other local governments and special districts within the State of Florida, begins on October l and ends on September 30�'. Q. What is a budget appropriation? A. A budget appropriation is a specific amount of rnoney that has been approved by the Village Council for use in a particulax manner. Q. Where does the Village obtain its revenues? A. All monies are ultimately derived from citizens in the form of local, state and federal taxes; fees, fines and licenses; and payments for municipal services such as recreation fees and utilities services. Q. What are utility taxes and franchise fees and why does the Village of Tequesta levy them? A. A utility tax is a tax levied on utility bills, to be paid by utility purchases. It is similar to a sales tax, except it only applies to utility bills and not to any other purchases. A franchise fee is a charge levied by the Village on a utility to operate within the Village and to use the Village rights-of-way and other properties for locating pipes, wire, etc. The State allows utilities to pass on the franchise fee directly to customers on their bills. The Village of Tequesta, like most villages/cities in Florida, relies very heavily on utility taxes and franchise fees for revenues rather than on the property tax, which is usually lower than properiy taxes levied in other states. 6 Villa�e of Tepuesta, Florida FY 2004-2005 Bud�et in Brief � ' . � ` ,� � ;�� , �.��.� ,� ��. � � ��, w .t �� .. � , �.,. � . . ,, � � M .- ��• , �,_. ,�,� � � � , >��. � . . � ��,,, � _. �'� ,. �� " , , ,, .F �,�.. ,,�e�,� , � ��'�.. � Operating Budget Policies ♦ The Village will comply with all State and Local legal requirements pertaining to the administration of an operating budget. ♦ The Village will utilize a structured budget preparation and formulation for all deparhnents. The process will encourage citizen input and participation. Five-year capital projections will be utilized in developing the operating budget. ♦ Essential services will receive first priority for funding. The Village will attempt to maintain current service levels for all essential services. ♦ The Village will consider the establishxnent of user fees, or increase of user fees, as an alternative to service reductions or elimination. ♦ In all efforts to balance the budget, the Village will attempt to avoid layoff of permanent employees. The village may freeze salary or replacement of vacancy. ♦ The Village will pay for cuxrent expenditures with current revenues. Long-term debt will not be used to fund current expenditures. ♦'The Village will avoid budgetary procedures that balance current expenditures at the expense of ineeting future years' expenses such as accruing future years' revenues or rolling over short-term debt. ♦ The budget will provide for adequa.te maintenance and replacement of capita.l plant and equipment. ♦ The budget will appropriate sufficient funding to cover annual debt retirement costs. ♦ The Village will consider technological and capital investment programs, which are cost-effective and which will reduce operating costs. ♦ The Village will maintain a budgetary control system to ensure adherence to the budget. ♦ The Village will employ a structured expenditure and revenue forecasting system to allow for effective financial planning. ♦ The Village will prepare regular reports comparing actual revenues and expenditures to budgeted accounts. ♦ The Village will comply with a budgetary encumbrance control system to ensure proper budgetary control. ♦ At least every five (5) years, the Village will hold a public auction of surplus and obsolete property. 7 M Village of Tequesta, Florida FY 2004-2005 Budget in Brief � „ ,�„, r �� .* E�t , �, � ., �� , �„ti° ;;�, � � �� ,.. . . � �� .;. �«�y �, � �, � »�,,, : �J � , ; , �� ° s,�i. ✓;u. �"t'. � y"' . �, ,�. us ..v "^,,.� . , a+, e�� . u.tnA , �.�.,'. .. � , . +.� ', a�M�Y� .. , ,... " " ,t , �„ t , �e.m� „�� . .a�`m., '. � ♦ An independent audit wi11 be performed annually in accordance with generally accepted accounting principals in the format of a Comprehensive Annual Financial Report as defined by the Government Finance Officers Association. (GFOA). ♦ The Village administration will promptly evalua.te the audit management letter's recommendation, issue a written response and determine the proper action to take in response to these recommenda.tions. ♦ The Village maintains two Capital Projects Fund. The Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major facilities (other than those to be financed by the Enterprise Funds). RESERVE POLICIES The Village will establish a contingency to provide for unanticipated expenditures. ♦ The Village will maintain an adequate fund balance in the General Fund to indicate that it is in sound financial condition. REVENUE POLICIES ♦ The Village will maintain a 10-year history of annual revenue. Any unusual circumstances or events that affect drastic changes of revenue will be noted. This encourages an accurate forecast of future revenue. ♦ The Village will annually calculate the full cost of activities supported by user fee to identify the impact of inflation and other cost increases and will revise user fees upon approval by the Council during the budget process. ♦ The Village will aggressively seek Federal, State and local grant and capital improvement funds and evalua.te future local fiscal impact. ♦ The Village will aggressively seek other revenues sources, such as voluntary annexation of contiguous properties. 8 Village of Tequesta, Florida FY 2004-2005 Budget in Brief � , , ,��. � , � x�� ,�� , �.,,� �� . v � � » .� � � � �; � �� k z,� ��r . �, „ �«�� , " �. `� � � a "� ` �" �� . �� , `�� ` � ,�'' � " ,, , . � .- . � , a +r�.'� � .• . � ' f � '.. , ,..�s DEBT POLICIES ♦ The Village will only issue debt for capital improvements and capital projects such as capital construction, infrastructure, and major capital acquisitions. ♦ The term of any debt issuance shall not exceed the useful life of the capita.l item being financed. ♦ The village will not issue debt to subsidize or fund cuxrent operations. ♦ General obligation debt will not be used to fund enterprise activities. ♦ The Village will pay off existing debt issues if the resulting savings are significant. CASH MANAGEMENT/INVESTMENT POLICIES ♦ The Village will deposit all funds the day following receipt. ♦ Investment of Village funds will emphasize preservation of principal. The primary investment vehicle is through the State Board of Administration. Any competitive bids by other sources must exceed the current rate of the State Board by a minimum of fifty basis points. ♦ In addition to the State Board, the Village Administration is authorized to invest in those instnunents authorized by the Florida Statutes, which secures principal amount and guarantees yield. 9 Village of Tepuesta, Florida FY 2004-2005 Bud�et in Brief � ;. , , �, . � �.. . . ��` t, .�,' �v� �ue�'�'�y ��'�i `�' .�'� .w � * �.,^.� . �.,. �„�'�, . . �i� , e « ,. �" � � ,�. ,. � >. � ° .�r� .„�, , .,�"syr, • ,� , f �a.. . �. � ,y ",� . "�ra . . , , . � . ,. �., , �i"'i . , e The Village accounts for its financial activities in the following funds: ♦ General Fund The chief operating fund of the Village of Tequesta is known as the "General Fund." This fund accounts for all financial resources except those required to be accounted for in another fund (GASB Codification Section 1300.104). This means that all of the Village's financial activities should be accounted for in the General Fund unless there is a compelling reason that requires it to be reported in another fund. Legal requirements or bond requirements might require the Village to account for financial activities in a separate fund. ♦ Imurovement Bond Revenue Fund This special revenue fund accounts for the proceeds of certain pledged revenues that are legally resbricted by Improvement Revenue Refunding Bonds, Series 1994, covenants. ♦ Capital Proiects Funds The Village reports its major capital acquisition and construction separately from its ongoing operating activities in Capital Projects Funds. Separate reporting enhances an understanding of the government's capital activities. The Village has established the following two (2) capita.l projects funds: • Capital Improvement Fund • Capital Projects Fund • Enterurise Funds An enterprise fund may be used to report any activity for which a fee is charged to external users for goods or services. ' 10 r Village of Tequesta, Florida FY 2004-2005 Bud�et in Brief } � .. ,.. ..... �,, � �w. �, �.w � .. , � � �, w.. �:�.. , W � � M � �^ � �. r ;� � - � � » r, » , , ,,„�,;, � . � u , � � �, �., , . . . ,,... '+ .l.F' � M �;. ., .... .., `ir q � . : ,. „. ;, � tt� . .:.. uank..,..:>� .. .�,«r-� •'w,.. ��d ^ >. ..�„^�.,' . .. . , �S",a, GAAP requires the use of an enterprise fund for any activity whose principal revenue sources meet the following criteria. • Debt backed solely by fees and charges • Legal requirement to recover cost • Policy decision to recover cost Enterprise funds are considered useful in some cases because they focus attention on the cost of providing services and they serve to highlight the portion of that cost borne by taxpayers. The Village has established three (3) enterprise funds as follows: • Stormwater Utility • Refuse and Recycling • Water Utility � The Special Law Enforcement Trust Fund: This is an Expendable Trust Fund that accounts for forfeitures received by the Police Department to be expended for certain law enforcement purposes as prescribed by Florida Statute Chapter 932.704. 11 Village of Tequesta, Florida FY 2004-2005 Budget in Brief � ,..�,< , ,. .�a ��_ � �, � x ,�. , �, � . �, ��" �:� ��_' ' �� ,,,. , .,�w , , , ,� � �" � � , � ,�, � ; �. �, �,. r, : „�c��, � , � � . �,� ,�.,., � <, „'��., n �, a �.,, Budgets are vital tools for establishing public policy and maintaining control over the management of public resources. The Village of Tequesta's Village Council deternunes, by its approval, how much and what types of fmancial resources shall be raised and how those financial resources shall be spent. This approval demonstrates the principle that taxes can only be raised or expended with the approval of the people's elected representatives. All budgets are legally enacted through passage of an ordinance. Budgets for the Village of Tequesta's General Fund, Special Revenue Fund, Capital Project Funds and Enterprise Funds are adopted on the same basis of accounting used to prepare financial statements in confornuty with Generally Accepted Accounting Principles (GAAP). The modified accrual basis of accounting is used by all governmental fund types (General Fund, Special Revenue Fund and the Capital Project Funds), and the expendable trust (Special Law Enforcement) fund. Under the modified accrual basis, revenues are recorded when they become both measurable and available. Expenditures are recorded when the related liability is incurred. The enterprise funds (Water, Refuse & Recycling and Storm water) record revenues when earned and expenses when they are incurred. _, ��, �� "�s ^ �^� .� � � ; � �, ,��p �.`t»� �ro `"�^� , :� a �,�� ° *� .. ��„ � �� , �;�' "�'7� � M w .. ,, ..� '� .,:��..,, ,..�:, � r',,� �, r�. w R�J „...... , . ,�ix�... �m�s��d°> ."R1 k �,�s ;` � �+ The Village of Tequesta conducts its budget process in compliance with the Truth-in-Millage (TRIM) Act enacted by state legislation, which requires disclosures of information regarding tax millage and budget adoption. 'The budget process begins with the Finance Department sending budget worksheets to all departments. After meeting with the Finance Depariment, the departrnents determine what they estimate will be spent at the end of the current fiscal year as well projecting their budget needs for the next year. The departments submit a five-year capital plan along with the completed worksheets to the Village Manager. The Village Manager and Finance Director meet with each department to discuss department needs and prior to September l the Village submits to the Village Council a proposed operating budget for the fiscal year commencing the following October l The operating budget includes proposed expenditures and the means of financing them. Public hearings are conducted to obtain taxpayer comments and prior to October l the millage rate is set and the budget is legally enacted through a passage of an ordinance. 12 Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief + � �" � > � .� � , � . ;. � . M �� M��„� ., � � �� „ , , � �r"� `�`" �,., „ � . �'.� �� , ,��,. s �»� ,,. H, �.,,u',,, Ar"�r;;� ;;�, �a' 4r .,.. ,,, �, , xu,, Ad Valorem Taxes represent 43.8% of the Tota.l General Revenues and 81% of Total Tax Revenues for the Village of Tequesta in the 2004-2005 Proposed Budget. Ad Valorem Overview O The Ad Valorem tax is defined as a tax based upon the assessed value of property. Ad Valorem tax rates are expressed in mills. A mill is defined as 1/1000 of a dollar, or $1 per $1,000 of taxable value. O The state constitution provides that municipalities are authorized by law to levy Ad Valorem taxes except Ad Valorem taxes on intangible personal property taxes prohibited by the constitution. O The state constitution sets a cap of ten mills for all municipal purposes. O Certain exclusions, differentials, exemptions, and credits reduce the Ad Valorem tax base. ■ Exclusions are specific property removed from Ad Valorem taxation such as motor vehicles, boats and mobile homes. ■ Differentials are reductions, which results from a different valuation standaxd other than fair market value such as agricultural land and aquifer-recharge land. ■ Property may be immune or exempt from Ad Valorem taxes such as properties owned by municipalities and used exclusively by it for municipal or public purposes. ■ Exemptions are those deductions typically specified as dollar amounts, such as the $25,000 homestead exemption. 13 Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief � � , ' � ,- �, ��-� ,��,a�' ,�� " �� - '� '' . � �� . , �, �W , � .�� x; � .� , � � . :� ,. . , n � � ., �. �'w�,�x�u.�. •, �� . , � �� ,�:. � , 4,. . �_� . �, .�,, Village of Tecruesta The assessed taxable value for the Village of Tequesta for 2004 is $714.639,727. This is an increase of $118,570,451 or 18.7% over the prior year. However, not all of that property may be taxable due to the exclusions, differentials, exemptions, and credits explained above. Historically, the Village has collected 93% to 96% of taxes levied. This is due to exclusions, etc., as well as discounts given for early payment of taxes. The Village budgets Ad Valorem taxes at 95% (as allowed by law) in order to calculate the possible reductions to this revenue source. Therefore, this year's Ad Valorem taxes are calculated as follows: Assessed Taxable Value $ 714,639,727 Millage Rate x .006498 2004/2005 Ad Valorem Taxes 4,643,729 Anticipated Collection Rate x 95% Budgeted for 2004/2005 Budget $ 4,411,542 14 Village of Tequesta, Florida FY 2004-2005 Bud�et in Brief , ' w , . �, - � , , , , � � » ,, . 3. w ,�,�. � ��y ,„:„.,,. , <. . ,.. �, „, x� . .�,,^'' � � �, � �. �,,, , � , ,,, ��.��. » ` �` �'� r ��,, w � � a'� , � � •' , �, ¢�t. �, � � ' ., � �� . . ., „ ,,,,�� +, t ' �^ . _ .. ' ; ,�„• , re.g. , _:. wn � «w w r��• a � 4 - � �+a � �.,. . . � � �W,�.�y�. �„� ��: ,. �� „ Y » ��, RESIDENTS OF TEQUESTA VILLAGE COUNCIL VILLAGE MANAGER ASSISTANT VILLAGE MANAGER VILLAGE ATTORNEY DEPARTMENTS VILLA6E CLERK HUMAN RESOURCES LEISURE PLANNING FINANCE POLICE FIREIRESCUE BUILDING UTILITIES PUBLIC WORKS DEPARTMENT SERVICES DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT DfPARTMENT DEPARTMENT RECREATION PARKS & WATER STORMWATER PROGRAMMING RECREATION SYSTEM 15 1 ' Village of Teauesta, Florida FY 2004-2005 Bud�et in Brief _ _ ---.� ___� _ -�., ,-_ _-- �__ __ , -__ _-- _ _._ ___ •�--..-- - - --- �— .. -- --- _ _--- General Fund Revenues Budget Year 2004/2005 i Ad Valorem Taxes Other Taxes $4,415,543 �1,002,340 43.8% g.go� Inter-Governmental $561,702 5.6% Charges for Services $455,170 Appropriated Fund Balance 4.5% $2,385,141 23.�% Intragovernmental $254,898 2.5% Grants & Contributions $208,290 Miscellaneous 2.1 % $183,670 1.8% Interfund Transfers Licenses & Permits $357,040 $251,000 3.5% 2.5% 16 � Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief � ,,,. � � �„ � , � � N , -„� � � ,,,, �� . , �„ � w, �� nw; - � � � t �;�. • ��.. sw . , g p „ � .. , „ ; - ,;;. •�+,. , » , ,, . ,.;�5'e�. .�,,;.�, ..�+ � .��t� ��.�;� r. R . .�� a .. , �� w roe"•' � . �. �..'�,. - � i e��sta� , �x, . t +�. . .a9�. ��«� ,. . q� ;"�i'�n,. �,� �, , , Y ,.,.: . � . , �� .. ,. . . �..,.. . r � a ,��, �' w � E t, ^ �� y ,..: �,,, �`� „�,�..,� ,:..�»� . d,°�' t, �M»�sr'o:� �m '. 7 s°" �. h *� � . �, ^' "" "� . � . wwa ��'��^�a� .� , '*� n�. �, � z +e� � �. °. . .. i��.. . �S k � �„��,�. � , „, �. �.: � � ' � �; a � ' r � � , ,,, ,�� . .. � �..'.: .. rm �,�, .. , .. �� a w � w � . . , � , ! � .. ,, a• h�+� � . w '� "^�� _. •'r ' a "� �'�� ,: �1) � � �. , .. , . , , r.. . . , ., .., � .,, , w _ .. . � a . �. Ad Valorem Taxes $ 3,392,623 $ 3,724,300 $ 3,780,782 $ 4,415,543 18.56% Other Taxes 1,093,877 1,041,621 1,025,700 1,002,340 -3.77% Licenses & Permits 11,408 7,400 4,480 251,Q00 3291.89% Inter-Governmental 575,150 648,397 615,311 561,702 -1337% Charges for Services 396,366 404,270 428,819 455,170 12.59% Fines & Forfeitures 48,506 50,500 36,330 35,600 -29.50% Micellaneous 79,919 43,950 619,713 94,070 114.04% Intra-governamental 337,490 341,700 341,700 254,898 -25.40% Grants - - 19,997 208,290 100.00% Inter-fund Transfers 404,654 265,720 293,550 357,040 34.37% Interest 83,166 59,480 54,169 54,000 -9.21 % Appropriate Fund Balance - 11,434 11,434 2,385,141 20760.08% Total General Fund Revenues $ 6,423,159 $ 6,598,772 � 7,231,985 $ 10,074,794 52.68% 17 Village of Teauesta, Florida FY 2004-2005 Bud�et in Brief :_�.----�u----- ��-�,�� - - - - -- - - __--m-��.-..o - --_._ ._ _ . �� _ ._ .� __�--. __»�._ -�__. __ � _ General Fund Ex n i I ' pe d tures , Budget Year 2004-2005 Debt Services Other $467,310 $57,000 Other General Govemment 4.6% 0.6% $1,�13,045 15.0% Transfers-Out $2,711,800 26.9% � : �v.a�n ' ; ., i t � � > �?. �., ��v" .. � t" t � t �.� � _ S y � k �� . M �. �.�; i F - � 1��.� � \ t f �.� - �� : Public Works _ �"" o'�. ,��;, ;.,•."° $555,860 ��`.; :,:. '��'., , �.' 5.5% Leisure Services $465,800 Public Safety 4.6% $4,303,979 42.7% 18 . Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief � ,� �.� ��,�� .. ,�,, � �, �� ,, � , � , > �� . �: � � . � N .. � ,� ., : � , .u"�, . ,5� ..,..m..w.,r4312. Ww'�aiL�a �.+�,�'TMa�e. �?'i'i ,'.. , ,� � , , , �.� . a �� r„� , '� rxtt,.c�.� m,t �. . .'w^ � aF ✓ 1M,..,., x,;.: �., . ._ . .,, ..�.,.. . � , � a. .: . ;M �gs :5 kA o- �.3,k � �R " ��; - i�ei� �r�, u��" • t��r . a� �� a,� . � ',��`+ �� , ��t' '��zE *°€ » � 1 �r , �. ,. � p' �` . �; � � „ � �"�'�"��- „ a�^� r� Ys " �� , t k�',y��' ' ,Yy,�' dy � �'t �N � " «) � , ^ v L� y� ' �, . .. �� p w� dr� .. +4 ' �r 6 a it ,�u... v Po''� �flt� ^'' ."� �k,� � ��' �� , ,. „ . �.. .. r . ... ,: . . . .�. . �t°m�' . �� '�'„ y� .,,,, , � ,,,_.. ',� . . Council $ 36,079 $ 38,034 $ 38,034 $ 39,500 3.85% Manager 191,687 165,490 160,640 166,360 0.53% Human Resources 49,730 58,833 57,913 214,675 264.89% Village Clerk 107,353 145,345 144,713 100,402 -30.92% Finance 295,269 294,492 288,392 308,694 4.82% Legal 97,076 103,650 103,650 100,000 -3.52% Planning - - - 110,150 100.00% Other General Government 508,409 599,941 598,472 473,264 -21.11% Law Enforcement 1,977,943 2,128,527 2,131,727 2,216,248 4.12% Building - - - 219,720 lOQ.00°10 Fire-Rescue 1,570,527 1,709,099 1,695,128 1,868,011 9.30% Public Works 461,232 503,174 503,331 555,860 10.47% Leisure Services 381,217 394,718 393,041 465,800 18.01% Debt and Capital Leases 604,391 439,123 439,123 467,310 6.42% Inter-fund Tfrs, Other Contingency 17,847 18,346 14,350 2,768,800 14992.12% Total General Fund Expenditures $ 6,298,760 $ 6,598,772 $ 6,568,514 $ 10,074,794 52.68% 19 � Village of Tequesta, Florida FY 2004-2005 Bud�et in Brief � � .� ... , . . � �. � , y,, � �, „ � ,,„ .� � , � � , , � , , � ��w � , . � �� :^. �„ , 3 ,. � ;�� , � , � w .�, , � . . ,� � . , .� ,��x�., KM �� . �� .. , �. ., ,.�, ' ., ' ° � �,w �, FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget °� REVENUES: Franchise Fees $ 350,423 $ 328,000 $ 351,500 $ 357,900 9.12% Licenses & Permits 92,157 85,000 84,864 78,240 -7.95% Miscellaneous 6,367 3,920 2,471 2,200 -43.88% Transfer from Stormwater 60,300 60,300 60,300 60,300 0.00% TOTAL REVENUES: $ 509,247 $ 477,220 $ 499,135 $ 498,640 4.49% APPROPRIATIONS: Debt Service $ 143,585 $ 142,750 $ 142,750 $ 141,600 -0.81% Transfer to General Fund 248,818 265,710 265,710 357,040 3437% Transfer to Community Development 68,147 68,760 68,760 - -100.00% TOTAL EXPENDITURES: $ 460,550 $ 477,220 $ 477,220 $ 498,640 4.49% � �"� �^.u:�� a t ,� •�� • ' +TM x ��r � z,^, � s+�� ,� `, � E Y ` �n �a'�"� �., ' s s� � �; �t � � � , ''µ ,�q,+ .. �` s� �� °?�1. ' �,�� °�'^�+ r �" Y� � t4 � ^� .: ,r, ,�c.�n � «'�" � M a .o .'�` '', �R� . r �G�`, iS: , a ,++ a��.,�: s � No overall significant changes noted. 20 r Villa�e of Tequesta, Florida FY 2004-2005 Bud�et in Brief � � �� , a ` ,� � �, L � -��^� �� .,, �- � , , � � w � � { " , � w z.� a � � , .,sa,�.. � «. �' a. � ��,� � ,� �� „ � �. „ , �.� �w�,h� .��. �� ,.�w.rw. �...; � � 2� � 2� � Z�J BiIC�Ct t0 Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget � F:�;�VINIJrS. Interest $ - $ - $ - $ - 0.00% Transfers-In From Other Flmds - - - - 0.00% Appropraite Fund Balance 70,172 180,200 180,200 185,225 2.79% T�T� �' �� $ 70,172 $ 180,200 $ 180,200 $ 185,225 2.79% APPROPRIATIONS: Paving Project $ 8,497 $ 65,671 $ 65,671 $ - -100.00% Country Club Drive Pathway linproverr�its 34,685 - - - 0.00% Tequesta Drive Bridge Irnproven�lts - - - 175,000 0.00% Constitution Park Irnprovements 6,950 15,000 15,000 - -100.00% Recreation Center Building Irr�proveme�its - 21,529 21,529 - -100.00% Recreation Center Signage - 7,650 7,650 --100.00% North Seabrook Road Irr�rovements - 47,000 47,000 - -100.00% Tequesta Park Irr�provetnents 11,405 15,350 15,350 10,225 -33.39% North Riverside Drive Pathway Irr�provements 5,882 - - - 0.00% NTiscellaneous Landscaputg 2,753 8,000 8,000 - -100.00% T�TAL EI'�INDIT[JR�'s: $ 70,172 $ 180,200 $ 180,200 $ 185,225 2.79% 21 . _ Village of Tequesta, Florida FY 2004-2005 Budget in Brief � �„ , �� ' �' � �� r;, � �. � " �� , �� r � �,� �,�� ;��, � �. � , . ,.,,; �.. � � � , M . �., , R w�"� ,�.w� .�:a � � :,�� ,,,�, ,.; t�, • s ,�x„ � ; , : a _. .,.�..: ,- �.. �,..,., FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Budget Bud�et °� REVENUES: Intergovernmental Revenue (Grants) $ 50,000 $ - $ - $ 200,000 0.00% Miscellaneous (100) - - - 0.00% Other Sources (Loan) - - - - 0.00% Transfers In From Other Funds - - - 2,711,800 0.00% Appropriate Fund Balance 1,293,060 310,362 130,233 379,620 191.49% TOTAL REVENUES: $ 1,342,960 $ 310,362 $ 130,233 $ 3,291,420 2427.33% APPROPRIATIONS: Constitution Park $ 45,389 $ 150,000 $ - $ 400,000 0.00% Recreation Center 14,900 - - - 0.00% Tequetsa Park 56,626 - - - 0.00% Municipal Center 87,595 75,449 45,320 2,426,420 5253.97% Public SafetyFacility 964,523 35,340 35,340 - -100.00% Landscaping - - - 15,000 0.00% Streetlight Conduit 11,574 49,573 49,573 25,000 -49.57% Kiosks - - - 25,000 0.00% FEC Project 6,517 - - 400,000 0.00% Inter-fund Transfers Out 155,836 - - - 0.00% TOTAL EXPENDITURES: $ 1,342,960 $ 310,362 $ 130,233 $ 3,291,420 2427.33% 22 � . Village of Tequesta, Florida FY 2004-2005 Bud�et in Brief ., � , �, �. , . � � � „ , ,,, W �,,. , ,� mM��, , , �.�„ � �w��, � � .� ,. � �, , :.. ,, � � , ��F. , � ., � >�:, ,� � � � », nz. � �� :� ` � ��, �', � � x ��» ; , , �, . , .. � . 5 � . :. ,:�4k�a ��..i;vw �� nn� .f�i �1; , elxh &�°a� �,?*�� ..��"M��'� 0' � „y�' a �'� p +SF. �n . �. � �� .2 .. .�... �.� ^ � � . � ....., . „ M ��a� ,: w�� ,., . , a„ .�a' w �'' "�'� �.�,m�," . M`Y�x�i�S+ e:k�.:.�. ' . .P.� FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget � REVENUES: Charges for Services $ 3,865,927 $ 3,341,410 $ 3,441,376 $ 3,549,230 5.86% Interest Income 45,684 40,360 36,240 35,600 -1337% Other Revenue 692,537 1,000 1,773 - -100.00% Capital Connect Charge 210,791 129,000 129,000 164,000 2134% Transfers-In from other Funds - 450,000 450,000 - -100.00% Appropriate Fund Balance - 407,875 407,875 1,751,370 76.71% TOTAL REVENIJES: $ 4,814,939 $ 4,369,645 $ 4,466,264 $ 5,500,200 20.55% �;d� �> �� ,, �� ,�� ,; a�.�: � „, � z �� „ � ,� ":� ' „ . , ,, „ � « ..� e :. � "��' � �x', � .. � �, y�. � :,,.+,..v. �� ..`�i "� � ' ��.n.�� rro�a�' , �. �, wt:.;:, �� ' . ..�. . . :�,��:'�F"RM ., xi,.�n, � , 'w' � a�.�±�. � �^� ,.a,r; � Other Revenue: Reimbursement for system repairs not budgeted in 2005. Approp. Fund Bal.: Fund balance appropriated to fund Capital Expansion expenditures. 23 � ., Villa�e of Tequesta, Florida FY 2004-2005 Budget in Brief � ,« �,��, w � . „ ,,,. � ,., ,, . r..�. �. p � �' st��. ,' •. - ' ,�� .� �.:. � , � 4,„�� w 5: . m��:.� ��. 3�;.. �� "��; �.,,t � , . s � . . � � ��.. m4 � ,y *. , � y�': ,.. .� . �' .,�� ,N.�.�.. ' y ��„ Y* � . .., � .. � 9� �, ^� .� ,�' ,. J �� . ' ' . 'w�rx, ' � . ... . . .. . '.. .... :..�.� .,',.. �S � , ,b........ . .. l FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget "� EXPENDITURES: Personnel Services $ 868,466 $ 930,813 $ 923,639 $ 945,950 1.63% Operating 1,722,201 1,630,036 1,628,831 1,742,550 6.90% Other - 200 200 200 0.00% Renewal and Replacement 126,193 245,761 245,761 199,000 -19.03% Capitallmprovements - 2,200 2,200 27,500 1150.00% R.O. Bond Project - - - - 0.00% Capital Expansion 682 560,175 342,426 1,932,700 245.02% Debt Service-1998 Revenue Bonds 369,390 523,330 523,330 521,300 -0.39% Note Payable - - - 52,000 100.00% Other Debt Service Costs 15,773 22,530 22,530 4,000 -82.25% Transfers to Other Funds - - - - 0.00% Depreciation 778,145 - - - 0.00% Other Miscellaneous 909 4,600 4,600 5,000 8.70% Reserves - 450,000 450,000 70,000 -84.44% TOTAL EXPENDITURES: $ 3,881,759 $ 4,369,645 $ 4,143,517 $ 5,500,200 25.87% .� �. ,.�_ f �� . s, F � � � � �� .� x . r� ' . '� �'� "" � �;� , � '�., a ��'� � � �^ „ ,�.,. �.�:�� '� . �� E. k^ . >..Y. �:a�:�.. �� wd��'w ,va4a"`.��.. �5.,.« �M w;F��u�W.+vn€S� Capital Improvements: Increase due to building improvement to the Bridge Road Garage. Capital Expansion: Increase due to R.O. Well, Rolling Hills extension, Raw Water Main extension and Tropic Vista extension 24 c � � Village of Tequesta, Florida FY 2004-2005 Budget in Brief ,.. ..ry,.;. ww� e.. �� . ,; .�, �� ry �� *�, ,%, � �a y �� y ''`� � �� , >„ � f `. x,,n„•, . �i „ � „�;, .y�.a, �;� 3 . �`,4 ,�.,... '�i�w : w,. ��.._. ,.�,t,�. �'.�,r,t , �., r '4," a��. �e "',+�,. ��, �.., ._ m , , „ ., M . q ' �� • FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget � REVENITES: Stormwater Utility Fees $ 297,843 $ 301,048 $ 301,505 $ 301,355 0.10% Interest Income 4,891 4,000 3,400 3,400 -15.00% Other - - - - 0.00% Appropriate Fund Balance 33,200 33,200 186,970 463.16% TOTAL REVENUES: $ 302,734 $ 338,248 $ 338,105 $ 491,725 45.37% a � ,� #� �� v�� r�. • <« ' � ��.,t y �.'4k . .^.+�m ^F`a ^. :�.a.: �.��. � • � ,. �� ?, � �� .� , , � � � , � ,.� :a�, r �,. �» � s� �s a� � a �,�.,� �� . ,� � _ . w >� w ,,,s,,, :w�. � �� ,;, n t; Approp. Fund Bal.: Increase to fund Capital Outlay appropriations. 25 { � Village of Tequesta, Florida FY 2004-2005 Budget in Brief s . �?� � �. z r� � �� ,�• � •:�r�- a-� ,� � �� r �,� � M � �?� ° , �' >� ^' �� ' � � � �" �"` '� � � � �� - �'� �' ��ta �� ' � �;. �. • � � � . ��.. �r . , ` '�� : �� ° '� � `v� ,� s µ � � ,� � � 5 x � 1 �B' �� 4 � S ,�" ..' A :N+�KK� � ' 8 +� , m �,�` ��i d y r � °� « � � �y k ��n e � : � ':'- K� p ,' , Y �` . � �. .: .yM��., ' _ _. !�' 'A,. :'.+'�. , "'o-x�k» ,,, � .�� ,.w �+ in"+7�"rva. . ,.. � „ � � W • � tl 9�A, rt �; .. ' ,eJ ,...r . ..n�. . m n .. .K" .4.m � ��4�., FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget °� APPROPRIATIONS Personnel Services $ 26,610 $ 32,430 $ 28,615 $ 38,450 18.56% Operating Expenditures 80,728 84,560 84,167 117,975 39.52% Capita.lOutlay 113,858 137,550 137,550 265,000 92.66% Transfers-Out 60,300 60,300 60,300 60,300 0.00% Other Non-Operating - Depreciation 57,247 - - - 0.00% Reserves - Contingency - 23,408 23,408 10,000 0.00% TOTAL EXPENDITURES: $ 338,743 $ 338,248 $ 334,040 $ 491,725 45.37% , � � s „ � YM x u, . � y � y ,, � . �. F',a �. .F"� �� V � �� *1�ry" k � � t�� '^ ' �, y �'��. e+.�$'v� sw'� F,d �« +±W, �aai., HM'�� na' ,.b�.�<do-�+'.,6� Personnel: Increase due to addition of full time Stormwater Operater, in addition to Merit/COLA increases. Operating: Increase due primarily to increase in drainage maintenance. Capital: Increase due to Cypress Drive South project. 26 r f x S Village of Tequesta, Florida FY 2004-2005 Bud�et in Brief �,� �� . � x �� ; ��. � r�� > �� .� "�� , `, ��' � _ � . ,. :,�� ""' � '"' �-� .� ' � ,,. �,,. �� „�� ,� � 5 � �� *,+� F d' ,�.» a d t �� v�� .,�,�.:: � ,. e x r' � . .� ;,< . , w` ...Mn'�wa, , ,�. .�- a <��°a� �� <e.�A:�.. . ;3sa,�.,.�.�.• a.� i�.,.. ' ^,�n,;, '�^�'�,. ,rr� � ^«�� w•� ��, FY 2004 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual BudEet �%Z REVENiJES: Refuse & Reccling Fees $ 242,901 $ 233,740 $ 234,412 $ 251,940 7.79% Interest Income 3,141 2,560 2,560 1,600 -37.50% Appropriate Fund Balance - 11,620 11,620 23,260 100.17% TOTAL REVENUES: $ 246,042 $ 247,920 $ 248,592 $ 276,800 11.65% APPROPRIATIONS: Operating Expenditures: $ 229,460 $ 247,920 $ 247,920 $ 276,800 11.65% TOTAL EXPENDITURES: $ 229,460 $ 247,920 $ 247,920 $ 276,800 11.65% . ':, ,.� '. �. ?�^�' � ',,.'�°' ; ...e ,`.�' W .�.� �, �+�;�,. �s.s� �;.,.. t _ �vK . �«� �a�� P �q.� x �o � �y� �, .,...� �� •Y , � � � 7 a. .� " �''"d , ^ ��* � � "`^' � �'^.�� ,«'^ '� � v �� .�, � : °, .�i��•,�,.. � ��•M .�f.:e � �� a�.�,� � � w .. � .,."wsio„m . s��r ��a,.�* wa.�. � ' K�' � w2 �,�;. �w, < �� ..�«r. Operating: Increase due to increase in Waste & Recycling Fees. 27 Villa e of Te uesta F1oCida � Z�d4-20pg $ ud �t ih � . � ri �y X ,., rief r ��v� `„�� „A,;�; � � � q � a a 3� �n 'n:� : � ,��", �"+, �w � ,�Y4 �` � ��"� �- � - �g � y�� ¢,�. � ,, n '�w . i ��"�� sn� ��'�2�«" ��,��,� -�.��.�� ;��. : � ' :, y . �� ,� �' ; E �<:��,a...3�n+ � �'� , �r �n;,�.. "��,vw� FY 2404 FY 2004 FY 2005 Budget to Prior Year Amended Estimated Proposed Budget Actual Budget Actual Budget % REVENUES: Forfeitures/Confiscations $ 9,768 $ - $ 2,603 $ - 0.00% Interest 193 - 132 - 0.00°/a TOTAL REVENUES: $ 9,961 $ - $ 2,735 $ - �.OQ% APPROPRIATIONS: Frinting & Binding $ - � - $ - � - �.��% Machinery & Equipment 9,189 - - - 0.00% Reserves - Contingency - - - - 0.00% TOTAL EXPENDITURES: $ 9,189 $ - $ - $ - 0.00% There are no revenues or expenditures budgeted for 2005. 28