HomeMy WebLinkAboutDocumentation_Regular_Tab 07FG_07/14/1994 �
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,� � VILLAGE OF TEQUESTA U( J� � � N
Post Office Box 3273 • 357 Tequa�ta Drive -`,! �
� Tequesta. Florida 33469-0273 • (40'n 575-6200
� " � 4 Fax: (407) 575-6203
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TO: Village Council �
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FROM: Thomas G. Bradford, Village Manager /
DATE: July 8, 1994
SOBJECT: Proposed Millage Rate, Computed Rolled-Back Millaqe Rate,
Date, Time and Place of First � Final Sudget Hearinqs all
Relative to Tequesta's Teatative Sudqets; Aqenda Item
Based upon the Budget presented to the Village Council at your
Workshop Meetings in June, and in accordance with Florida Statutes,
the Village Council needs to adopt the following:
1) Proposed Millage Rate: 6.1280
2) Computed Rolled-Back Millage Rate: 5.9541
3) First Public Hearing: September 7, 1994, 7:00 P.M. at Village
Hall
4) Final Public Hearing; September 22, 1994, 7:00 P.M. at Village
Hall
The above referenced millage ra�e is contingent upon the adoption
of a utility tax equal to 9.00$, effective September 1, 1994, as
opposed to the current 8.0$ utility tax. The above refere�ced
proposed millage rate increases taxation in an amount to cover the
debt service for the 1994 Bond Issue only. Therefore, the property
tax rate is. only a 2.92$ increase. This proposed millage rate
provides no cushion in the event that costs increase between now
and October 1, 1994, in an amount greater than that anticipated in
the proposed Budget, as was suggested by the Village Council at
your Budget Workshop.
�It is recommended that the Village Council approve the
recommendation stated above.
TGBjkrb
Rrcv�led P�it�cr
; VILLAGE OF TEQUESTA .
Post Office Box 3273 • 357 T'equesta Drive �
�, Tequesta, Florida 33469-0273 • (40� 575-6200 ,� ,�
', � 4 Fax: (407) 575-6203 � ����G� OF '�'�
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TO: Thomas G. Bradford, Villag�3�L�
FROM: Bill Kascavelis, Director of Fin ce '
DATE: July 8, 1994
SUBJECT: FY 1994/95 Budget (Ad Valorem Tax Rate
and Utilfty Service Tax Rate)
Per our recent discussions regarding Council's direction.for
balancing the FY 94/95 budget at the June 30, 1994 budget workshop
meeting, and upon receipt of the certification of taxable value
received from the P.B.C. Property Appraiser on July l, 1994, the
following financial information is provided to enable your
recommendation to Council for the FY 199�4/95 Generai Fund Budget.
Ad Valorem Property Tax
The ad valorem property tax millage rate necessary to be
levied is 6.1280 mills. A 2.92� increase over the current year
rolled back rate of 5.9541 mills. Ad valorem property tax proceeds
at 95$ of the taxable value will be $2,007,750, which is an
increase of $56,975 required to fund the increased debt service of
$57,000.
Utility Service Tax �
The utility service tax rate currently in effect in the amount
of 8$., will be required to be increased an additional one percent
to 9$. The increase will generate an additional $53,375. The
ordinance adopting the utility service tag increase must be
legislated prior to August 1, 1994, and the effective date of the
rate increase must be September 1, 1994, to provide a revenue
stream of.Z2 monthly payments for FY 1994/95.
The above referenced ad�ustments wili provide the revenue
necessary to balance the General Fund budget, including a reduction
on the expenditure side of the ledger for health insurance in the
amount of $18,720.
R�c�acfed Pi-+er
♦
Thomas G. Bradford
July 8, 1994
Page 2 -
Summary of additional funding required to balance the General
Fund Hudget for FY 1994/95.
Amount Required .................... .... $ 129,070.
Ad Valorem Proceeds S 56,975. ����
Utility Service Taxes 53,375.
Reduction of Expenditures 18,720. $ 129,070.
A copy of the Certification of Taxable Value for the Village
is attached in support of the recommendations contained herein.
Respectfully,
BCK/mk
Encl.
_' .• •.�•. ... .. �n�YG
` PALM 88ACH � To TSQU88TA
• �N.�,�. a r.,� �wno�x
. t j Cufrent Year Taxable Value of Real PropertY for Wereti►q Purposes s 3 2 9, 2 9 3, 7 7 4
� 21 Current Year Taxabie Value o1 Pe�sona� prope�y f� pp��eting P�rpcseg a , ,
3) Cunent Year Taxable Value ol Centrally qases� pr�p� {� s �
Operathq Purposes
4) Gxrent Year Oross Taxabie ya�e }or pperet�p p��p�ea ( ��+(2) +(3) s 344 , 879 , 205
• 5) Gurent Year Net New Texable yalue
(►�ew Constructlon + q��� + q��� - p��) s 4. 030 ,180
e1 Gurent Year Adjust�ed Taxable Value (4) -(5) a
7) Prbr Year Orp� Taxable y81ue (Fr�m pri� Yea► OR-403) a • ,
d° �e"�bY �titY the values shown herein to be correct to the best ot mY k and bet . Witness hand , o I
Jpneture et ii83T PALM BSACH , � F ^y ��
lay of JULY , 19 , s
�E �1STRUCTIONS ON REVERSE SIDE a �raoe.�r �aa►at.x
Ths �olbwY+o i a be epnv�efed by raxinp Autha;�y � nrs Qortion a tne rorm is na compl� t� qx.�, you► Authwpr w01 he denbe nilM
�rtMlcatlan ird posdbiy bss �ls m�ape IevY DHvBeqe 1or 9+e �c �ar. d ary �e b iridOD�cabb. eMer N/A a-0-. w
g1 Prb► Yeer Qp�� jy�� �y . a 5. 9140
9) Prlor Yeer-Ad yg�prem pr�� (7) x(81 � a 2 029 457 � a 1,000
101 Cument Year qplled-Badc qate (9) =(6) a 5.95 1
11) Current Year Proposed Operating Millage Rate (Use Line ( � a) br CurreM Per S 1,000
Debt Service M'iUage and Line (15) tcr Current Voted Miqage) S-- .1 8o p� s 1,000
12) Chedt one ( i) TYPE of Taxirg Authority:
13) (f � �tY 0 MurdcipalitY ❑ sb�eeai�o'amet ❑ �o�sct ❑ MSTU ❑ Mt�itl�ounty
a�dn0 Authority t�as p�d�nt gPecial Dishicts. list ap those 'DEPENDENT SPECIAL DISTRICiS' that Nv�r a
mtlte�s �d the ProPosed mdlaye tor eac� SPecial District. (If no miltage is DroPosed. Ol�e errter - 0-.)
�� Proposed Millage . � Proposed M�lage
Rate �Pe� s,,000l Name Raee tPer a,.000)
—� ,
�_ �_
� NOTE: If Additionai ------
:14) Qhrent Year Voted Debt Service Mtllage �,is Required. Please Attach �� ��.
15) Qxr�nf. Year Other Voted IVfillage (IN EXCESS OF MILLAGE CAP AND NOT a o- � a� .000
To ExcEEO Two YEaRS� ae� s�,000
�E�EntT s�c�a� as^�icrs ow�Y � i� ( ts) tnru (2a�
161 Eraer Prior Year Ad Valorem Roceeds of the
� T�8 Awho�tY• (�.Me (9) �►om DR-4201 s 2,029,457
17) Ehber �gl Ptbr Year Ad Valorem Proceeds of ALL bEPENDENT SPer.ial Distrids
�M^0 a��ag� (The aum o( W�e (9) irom ea� DependeM Spec.ial S -o-
18) Total Prfor Yesr 4 Proceeds: L�e ( 17)
19) Thg � Y�ar a 2,029,457
Line (18) + � 18�9�Wte RoNed-badc Rat�
20) Q� Y� s 5. 9541 � S 1.000
�te Ro9ed-badc Taxe�
21) Ente��pj���1 2,053,445
D�oPosed to be leried py fhe �
(pp NpT � p� q��� ��� �� X Une (41 a 2,113, 420
DO NO� k�lude vvte.d D�bt Service Ievlea or V�oted MHlage Levies.)
'2) Er�r Ainerd Year � T�� V ��� �� a 344,879, 205
(Llne (4} pR-420 of Prhx�pel Taxfng AuthorlY)
' ���OpO�d �e �IIaDe Rat� une (211= une (22) s 6.12so per s 1,OOo
�OP�ed Re�e eS a PERCENT CHANGE d Rolled-B�ck R�e: 2:9 %
[(W1B 23 + Lh1B 19.) - i.QO] X 100 5��� 7, 1994, 7:00 Y.M. ,
. eM. TUtls �1d PIBCe Of 1he ftr� P�JbflC Budpet TEQUESTA VILLAGE
HAI.L 357 IIESTA DRIVE, �, �RIDA.
�� ' hereb!► c�Nt�+ if,e mltapes and ratea shown r� b be conec:t b the besc a ny knowied�e ara bMer, FI�iTI�R,
��8 �nP�Y wNh ihe Prov�ior�s bi Section 200.071 or 2Q0.081, F.8 YVITWESS nry hand m�d a�fidal
. . Florida. dua the day of
. 19_ .
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