HomeMy WebLinkAboutMinutes_Workshop_07/13/1993VILLAGE OF TEQUESTA
Post Office Box 3273 357 Tequesta Drive
Tequesta, Florida 33469-0273 (407) 575-6200
Fax: (407) 575-6203
V I L L A G E O F T E Q II E S T A
V I L L A G E C O II N C I L W O R K S H O P
M E E T I N G M I N II T E S
J II L Y 1 3, 1 9 9 3
i. The Tequesta Village Council held a scheduled workshop meeting
at the Village Hall, 357 Tequesta Drive, Tequesta, Florida,
on Tuesday, July 13, 1993. The meeting was called to order
at 5:30 P.M. by Mayor Ron T. Mackail. A roll call was taken
by Fran Bitters, the Recording Secretary. Councilmembers
present were: Mayor Ron T. Mackail, Joseph N. Capretta, and
Liz Schauer. Earl L. Collings arrived at 5:35 p.m., and Vice
Mayor William E. Burckart arrived at 6:10- p.m. Also in
attendance were: Village Manager Thomas G. Bradford; Village
Clerk Joann Manganiello; Finance Director, Bill Kascavelis;
and Water Department Manager, Tom Hall.
II. APPROVAL OF AGENDA
Councilmember Capretta moved to approve the Agenda as
submitted. Councilmember Collings seconded the motion. The
vote on the motion Was:
Ron T. Mackail - for
Earl L. Collings - for
Joseph N. Capretta - for
Lis Schauer - for
the motion was therefore passed and adopted and the Agenda was
approved as submitted.
Rv~v~lvil Pnnor
village council Workshop
F Meeting Minutes
July 13, 1993
Page 2
III. REVIEW OF PROPOSED FY 1993-1994 BIIDQETS
Using the Annual Budget and Financial Report for Fiscal Year
1994, Village Manager Bradford reviewed the Budget before the
Council.
A) improvement Bond Revenue Fund
Fund Analysis: This Fund was created as a result of the 1979
Bond Issue whereby the Village agreed to have a separate and
specific fund to account for revenues pledged to pay off
Tequesta debt for the 1979 drainage system.
Estimated Fund Balance 10/01/93 $ 49,590
Estimated Revenues FY 94 $ 903,500
Estimated Expenditures FY 94 S 914.700
Estimated Fund Balance 9/30/94 $ 38,390
Historical tracking of revenues in the Improvement Bond
°`° Revenue Fund, covering 1) Franchise Fees; 2) Utility Service
Taxes; 3) Other Revenues, with Total Improvement Bond Revenues
of $903,500.
Councilmember Collings asked if Tequesta would profit from an
additional gasoline tax. Village Manager Bradford stated that
if the distribution formula remains as it is today, revenues
for this item would double, assuming sales did not decrease.
However, the County desires to re-establish the distribution
formula which could cause Tequesta to receive approximately
20$ less than it is now receiving.
Mr. Bradford explained further that smaller municipalities
tend to have their franchise rates and utility taxes at the
maximum allowable (10$), but Tequesta's is at 8~. The extra
2$ would create for Tequesta approximately an addition
$102,000 per year. Councilmember Capretta suggested a review
be taken to determine whether Tequesta is competitive with
other municipalities regarding sources of revenue.
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Village Council Workshop
',,, Meeting Minutes
July 13, 1993
Page 3
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Mr. Bradford explained further that significant changes have
taken place regarding Occupational License Laws:
Municipalities can now raise their rates by 5$, and another
5$ every two years, if they form an Ethics Study Commission
appointed by the Village Council, and must consist of business
people within the community. Also, municipalities,
technically, can no longer charge afull-fledged Occupational
License Fee to a company which is physically located outside
municipal boundaries. Through this latter law, Tequesta
stands to lose approximately $7,000 per year. Councilmember
Collings suggested that perhaps lowering Occupational License
Fees might encourage more businesses to come to Tequesta.
Other options for increasing revenue sources were discussed.
Expenditures: All monies in the Improvement Bond Revenue Fund
are transferred out of the Fund. What is not needed goes to
the General Fund, and what is needed to pay debt goes to the
Improvement Bond Revenue Sinking Fund.
B) Improvement Bond Revenue 8iakinq Fund
This Fund accounts for the Village's expenditures and revenues
associated with Debt Service. By Covenant of the 1979 debt,
the Village is required to keep one year's Debt Service amount
in the Undesignated Fund Balance. It is estimated interest
earned on these monies will have a decrease of over 50$ of two
years ago.
Estimated Fund Balance 10/01/93 $ 119,285
Estimated Revenues FY 94 $ 142,500
Estimated Expenditures FY 94 ~ 141,500
Estimated Fund Balance 9/30/94 $ 120,285
C) Water Department Enterprise Fund
The Village is required to keep a Debt Service ratio of 1.25.
Proposed revenues and expenditures indicate the ratio to be
1.97.
Estimated Revenues FY 93 $ 2,678,300
Estimated Operating Expenditures FY 93 S 1,614.905
Revenues in Excess of Operating Expenses $ 1,063,395
Debt Service FY 93 ~ 336,740
Surplus/(Deficit) $ 726,655
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Debt Service Ratio To Operating Revenue 3.16
village council Workshop
Meeting ldiautes
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July 13, 1993
Page 4
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Estimated Revenues FY 94
Estimated Operating Expenditures FY 94
Revenues in Excess of Operating Expenses
Debt Service FY 94
Surplus/(Deficit)
Debt Service Ratio To Operating Revenue
$ 2,509,900
$ 1.848.875
$ 661,025
$ 334.405
$ 326,620
1.97
Interest earnings on Water Enterprise Fund Revenues has
dropped 50$ since 1992.
Village Manager Bradford explained that the U-2 Permit has
been received from Martin County to do the entire proposed
route for the raw water line.
In 1994 it is planned to bring Well 25, at the Turtle Creek
entrance, on line; in 1995, well 27, also located at Turtle
Creek will be brought on line; and in 1996, Well 26, on
Country Club Drive, will be brought on line. At that time it
will be determined whether Tequesta will need to go to R/O.
IV. ANY OTHER l[ATT$R8
Mr. Bradford went over the projects which will be included in
the 1993 Bond Issue:
o Refinancing Existing '79 Series Bonds: $615,000
o Fire/Rescue 100' Aerial Truck: $457,000
o Tequesta Drive Sidewalks: $ 70,000
o Tequesta Park $240,000
(Parking Lot Paving and Landscaping;
Playground Improvements; Basketball
Court Lights)
o Constitution Park: 5165,000
Total Bond Issue $1,547,000
(excluding issuance costs)
Village Counoil Workshop
m Meeting Minutes
July 13, 1993
Page 5
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Tequesta Park
The Mayor and the Council felt playable ballfields at
Tequesta were an important issue (especially to JTAA) and
should be included, even if the lighting for the back field
was held back until proper authorizations were received.
Discussion took place regarding abandoning Constitution Park
for the time being and using the funds for funding Tequesta
Park.
v. ADJOORMM$riT
There being no further matters before the Village Council,
Councilmember Collings moved that the meeting be adjourned.
Councilmember Capretta seconded the motion. The vote on the
motion was:
Ron T. Mackail - for
Lis Schauer for
Joseph N. Capretta - for
William $. Burckart - for
Earl L. Collings - for
the motion Nas therefore passed and adopted and the meeting
Nas adjourned at 7:35 P.M.
Respectfully submitted,
_ ~~
Fran Bitters
Recording Secretary
ATTEST:
J nn Manganiel
~~ Village Clerk
DATE PPROVED:
/.z 9 .3