HomeMy WebLinkAboutDocumentation_Special Meeting_Tab 03_09/27/2017 �.,,,...,.....
.,.
, . .
,,�:.�� ...�,,..�... . .;..,
�
, .:,� .,.. :..%°„>
�.,�„��,>.
ij%,.,...,
„�,., . .
��`.
� ;.9c ';"�� . �/%//���;:.5"%/�d�ii%� �i%�i>i/'��,"%/%�/%G,';;�i' ;�.G-i�i -an � ", ;i�i�%�,,,. " ��;,;..
/� ;%�j �✓i,i�i"/
� -,� . . .;i�;�; �" / �:".`y�v //� �"�'�"�, w"�� ,;�;;�m
�;��;,;g,H: � ,.. ' � : s'
Ji% %/� ,�'r��
;.�'�;j ,.,// ;% ;r;i
�i'/i, r;., :�„u ,,;�
�x , ,;�
��y�':.,. �:
%�;��/,;,,"{'
;,�:H;��,`''.. ;"-.,.
r; ;��:;. �.;.i
DATE: AUGUST 31,2017
TO: MICHAEL R. COUZZO,VILLAGE MANAGER
FROM: CHRISTOPHER S. QUIRK,FINANCE DIRECTOR
RE: RESOLUTION TO ADOPT—PROPOSED 2017-2018 BUDGET
Attached please find a resolution to adopt the FY2017-2018 Proposed Budget.
The proposed expenditures came in at 3.5%above the prior amended budget.
8/31/174:05 PM
RESOLUTION NO. 45-17
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, ADOPTING ITS FINAL BUDGET FOR FISCAL
YEAR 2017-2018; PROVIDING THAT THE BUDGET HEREBY
ADOPTED MAY BE ADJUSTED OR MODIFIED BY SUBSEQUENT
RESOLUTION OF THE VILLAGE COUNCIL, OR OTHERWISE,UNDER
CERTAIN CIRCUMSTANCES; PROVIDING AN EFFECTIVE DATE;
AND FOR OTHER PURPOSES.
WHEREAS,The Village of Tequesta has established its fiscal year to begin on October lst
of each year and end on September 30th of the following year; and
WHEREAS, Section 166.241(2), Florida Statutes, requires each municipality to adopt a
budget each fiscal year by ordinance or resolution, unless otherwise specified in the respective
municipality's Charter; and
WHEREAS, the Charter of the Village of Tequesta is silent with regard to method of
adoption of the budget and the Village Council desires to adopt its budget by resolution; and
WHEREAS,the Village of Tequesta has held the required budget hearings in accordance
with Chapter 200,Florida Statutes; and
WHEREAS, having considered the estimates of revenues and expenses, it is the will and
desire of the Village Council that the final budget be approved and adopted as set forth herein.
NOW,THEREFORE,BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA,FLORIDA,THAT:
Section 1: The Village Council of the Village of Tequesta, Florida, hereby adopts its
budget for fiscal year 2017-2018; which budget is attached hereto as Exhibit "A" and made a part
hereof as if fully set forth herein.
Section 2: The 2017-2018 Budget establishes limitations on expenditures by total.
Appropriations for expenditures within a fund may be increased or decreased by motion recorded
in the minutes provided that the total of the appropriations of the fund is not changed. The
governing body may establish procedures by which the designated budget officer may authorize
certain budget amendments within a deparhnent provided that the total of the appropriations of the
department is not changed.
Section 3: Amendments other than those delineated in Section 2 above must be
adopted by resolution.
Section 4: The Village Clerk shall mail a copy of this resolution to the Palm Beach
County Property Appraiser, to the Palm Beach County Tax Collector, and to the State of Florida,
Department of Revenue within three (3)days after its adoption.
Section 5: The Village Clerk shall, within thirty(30) days of the effective date of this
resolution, certify to the State of Florida, Department of Revenue that the Village has complied
with all statutory requirements in adopting the millage rate and budget. The Village Clerk shall
transmit to the Department a copy of this resolution, a copy of the certification of value showing
the rolled-back rate and proposed millage rates as provided to the Property Appraiser and a
certified copy of the published advertisement of the final budget public hearing.
Section 6: The adopted budget shall immediately be posted conspicuously on the
Village of Tequesta website.
Section 7: This Resolution shall take effect immediately upon its adoption by the
Village Council.
BUDGET SUMMARY
Village of Tequesta-Fiscal Year 2077-2018
"`THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE VILLAGE OF TEQUESTA ARE 3.5%
MORE THAN LAST YEARS TOTAL OPERATING EXPENDITURES.
General fund 6.2920
ESTIMATED REVENUES GENERAL CAPITAL CAPITAL WATER REFUSE& STORMWATER SPECIAL LAW TOTAL ALL
FUND IMPROVEMENT PROJECTS UTILITY RECYCLING UTILITY ENFORCEMENT FUNDS
Taxes: Millage Per$1000
Ad Valorem Taxes 6.2920 6,445,100 6,445,100
Sales and Use Taxes 1,487,300 1,487,300
Franchise Fees 460,000 460,000
Licenses and Permits 516,000 516,000
Intergovernmental Revenues 861,200 861,200
Charges for Services 1,175,950 5,316,100 484,000 375,300 7,351,350
Miscellaneous Revenues 260,700 17,000 277,700
Intragovernmental Services 577,300 577,300
Unrestricted Investment Earnings 5,500 8,500 14,000
Other Financing Sources 34,500 34,500
TOTAL SOURCES $11,789,050 $0 $0 55,376,100 $484,000 $375,300 $0 $18,024,450
Transfers In $540,100 $200,000 740,100
FundBalances/Reserves/NetAssets $837,150 $49,900 $883,450 $15,400 $340,400 2,126,300
TOTAL REVENUES,TRANSFERS 8 BALANCES $12,626,200 $590,000 $200,000 $6,259,550 $499,400 $715,700 $0 $20,890,850
EXPENDITURES
General Government 2,193,250 2,193,250
Public Safety 6,847,850 6,847,850
Physical Environment 5,709,250 499,400 703,300 6,911,950
Transportation 1,597,500 590,000 2,187,500
Leisure Services 728,600 200,000 928,600
Debt Service 505,100 528,300 12,400 1,045,800
Other Financing Uses 13,800 22,000 35,800
TOTAL EXPENDITURES $11,886,100 $590,000 $200,000 $6,259,550 $499,400 $715,700 $0 $20,150,750
Transfers Out $740,100 740,100
Fund Balances/Reserves/Net Assets �
TOTAL APPROPRIATED EXPENDITURES $12,626,200 $590,000 $200,000 $6,259,550 $499,400 S715,700 $0 $20,890,850
TRANSFERS,RESERVES 8 BALANCES
The tentative,adopted,and/or final budgets are on file in the office of the above referenced taxing authority as a public record.
at
Tab One
Table of Contents
Tab 1 Resolution 44-17
Resolution 45-17
Fiscal Year 2017-2018 Budget Summary
Tab 2 The Village of Tequesta at a Glance
01
Introductory Section
13
Property Values and Ad Valorem Taxes
23
Proposed FY2018 Budget Summaries
All Funds
29
Governmental Funds
37
Proprietary Funds
41
Proposed FY2018 Budget Detail
Governmental Funds
45
Proprietary Funds
83
Capital
91
Glossary
95
Tab 3 Budget Worksheet
RESOLUTION NO. 44-17
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, ADOPTING THE FINAL MILLAGE RATE FOR
THE LEVYING OF AD VALOREM TAXES FOR THE VILLAGE OF
TEQUESTA FOR THE FISCAL YEAR COMMENCING ON OCTOBER 1,
2017 AND ENDING ON SEPTEMBER 30, 2018; PROVIDING AN
EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS, the Village Council of the Village of Tequesta has determined the sum of
$20,890,850.00 will be required to operate the Village during the next fiscal year; and
WHEREAS, the Real Estate and Personal Property Tax Roll for the current calendar
year as accepted evidences a total nonexempt valuation of $1,060,772,539.00; and
WHEREAS, pursuant to the provisions of Chapter 200, Florida Statutes, the Village of
Tequesta has the power to levy ad valorem taxes against real property and tangible personal
property in accordance with state law; and
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, THAT:
Section 1: The Village Council of the Village of Tequesta does hereby adopt its final
millage rate of 6.2920 mills to be levied for the general fund upon all real and tangible personal
property located with the boundaries of the above named taxing authority.
Section 2: The final levy of 6.2920 mills represents a 5.66% increase over the rolled -
back rate of 5.9551 mills.
Section 3: This final millage rate of 6.2920 mills is levied to fund expenses for the
fiscal year commencing October 1, 2017 and ending September 30, 2018.
Section 4: This Resolution shall take effect immediately upon its adoption by the
Village Council.
RESOLUTION NO. 45-17
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, ADOPTING ITS FINAL BUDGET FOR FISCAL
YEAR 2017-2018; PROVIDING THAT THE BUDGET HEREBY
ADOPTED MAY BE ADJUSTED OR MODIFIED BY SUBSEQUENT
RESOLUTION OF THE VILLAGE COUNCIL, OR OTHERWISE,
UNDER CERTAIN CIRCUMSTANCES; PROVIDING AN EFFECTIVE
DATE; AND FOR OTHER PURPOSES.
WHEREAS, the Village of Tequesta has established its fiscal year to begin on October
I" of each year and end on September 3 01h of the following year; and
WHEREAS, Section 166.241(2), Florida Statutes, requires each municipality to adopt a
budget each fiscal year by ordinance or resolution, unless otherwise specified in the respective
municipality's charter; and,
WHEREAS, the Charter of the Village of Tequesta is silent with regard to method of
adoption of the budget and the Village Council desires to adopt its budget by resolution; and,
WHEREAS, the Village of Tequesta has held the required budget hearings in accordance
with Chapter 200, Florida Statutes; and,
WHEREAS, having considered the estimates of revenues and expenses, it is the will and
desire of the Village Council that the final budget be approved and adopted as set forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE OF TEQUESTA, PALM
BEACH COUNTY, FLORIDA, THAT:
Section 1: The Village Council of the Village of Tequesta, Florida, hereby adopts its
budget for fiscal year 2017-2018; which budget is attached hereto as Exhibit "A" and made a
part hereof as if fully set forth herein.
Section 2: The 2017-2018 Budget establishes limitations on expenditures by total.
Appropriations for expenditures within a fund may be increased or decreased by motion recorded
in the minutes provided that the total of the appropriations of the fund is not changed. The
governing body may establish procedures by which the designated budget officer may authorize
certain budget amendments within a department provided that the total of the appropriations of
the department is not changed.
Section 3: Amendments other than those delineated in Section 2 above must be
adopted by resolution.
Section 4: The Village Clerk shall mail a copy of this resolution to the Palm Beach
County Property Appraiser, to the Palm Beach County Tax Collector, and to the State of Florida,
Department of Revenue within (3) days after its adoption.
Section 5: The Village Clerk shall, within (30) days of the effective date of this
resolution, certify to the State of Florida, Department of Revenue that the Village has complied
with all statutory requirements in adopting the millage rate and budget. The Village Clerk shall
transmit to the Department a copy of this resolution, a copy of the certification of value showing
the rolled -back rate and proposed millage rates as provided to the Property Appraiser and a
certified copy of the published advertisement of the final budget public hearing.
Section 6: The adopted budget shall immediately be posted conspicuously on the
Village of Tequesta website.
-Section 7: This Resolution shall take effect immediately upon its adoption by the
Village Council.
BUDGET SUMMARY
Village of Tequesta - Fiscal Year 2017-2018
*THE
PROPOSED OPERATING
BUDGET EXPENDITURES OF THE VILLAGE OF TEQUESTA ARE 3.5%
MORE THAN LAST YEARS TOTAL OPERATING EXPENDITURES.
General fund 6.2920
GENERAL
CAPITAL CAPITAL WATER
REFUSE &
STORMWATER
SPECIAL LAW
TOTAL ALL
ESTIMATED REVENUES
FUND
IMPROVEMENT PROJECTS UTILITY
RECYCLING
UTILITY
ENFORCEMENT
FUNDS
Taxes: Millage Per $1000
Ad Valorem Taxes 6.2920
6,"5,100
6,445.100
Sales and Use Taxes
1,487,300
1,487,300
Franchise Fees
460,000
460,000
Licenses and Permits
516,000
516,000
Intergovernmental Revenues
861,200
861,200
Charges for Services
1.175,950
5,316,100
484,000
375,300
7,351,350
Miscellaneous Revenues
260,700
17,000
277,700
Intragovernmental Services
577,300
577,300
Unrestricted Investment Earnings
5,600
8.500
14,000
Other Financing Sources
34,500
34,500
TOTAL SOURCES
$11,789,050
$0 $0 $5,376,100
$484,000
$376,300
$0
$18,024,450
Transfers In
$540,100 $200,000
740,100
Fund BalancestReserves/Net As;ets
$837,150
$49,900 $883,450
$15,400
$340,400
2,126,300
TOTAL REVENUES, TRANSFERS & BALANCES
$12,626,200
$590,000 $200,000 $6,259,550
$499,400
$715,700
$0
$20,890,850
EXPENDITURES
General Government
2,193,250
2,193,250
Public Safety
6,847.850
6,847,850
Physical Environment
5,709,250
499,400
703,300
6,911,950
Transportation
1,597,500
590,000
2,187,500
Leisure Services
728,600
200,000
928,600
Debt Service
505,100
528.300
12,400
1,045,800
Other Financing Uses
13,800
22,000
35,800
TOTAL EXPENDITURES
$11,886,100
$690,000 $200,000 $6,259,560
$499,400
$715,700
$0
$20,150,7SO
Transfers Out
$740,100
740,100
Fund Balances/Reserves/Net Assets
0
TOTAL APPROPRIATED EXPENDITURES
$12,626,200
$590,000 $200,000 $6,259,550
$499,400
$715,700
$0
$20,890,850
TRANSFERS,RESERVES & BALANCES
The tentative, adopted, and / or final budgets are on file in the office of the above referenced taxing authority as a public record.
Tab Two
The Village of Tequesta at a Glance
Ill
The Village of Tequesta Proposed Budget 1
The Village of Tequesta's Location in Florida
Incorporated in the State of Florida in 1957 and located in the northeast corner of Palm Beach
County, the Village of Tequesta has been a picturesque, family -orientated, community for more
than fifty years. It is nearly two square miles, has six parks and wonderful residents who make it
a pleasure to live and work here.
Copyright 200S
digital •topo-mapsxom
[21
Your Village Council
The Council consists of five Council Members. Two (2) Council Members are elected in odd
years and three (3) Council Members are elected in even years. The Village Council appoints a
Mayor and a Vice Mayor at the first meeting subsequent to the date of the annual election of
Village Council Members.
From Left to Right: Councilman Tom Paterno, Vice -Mayor Vince Arena, Mayor Abby Brennan, Councilman Frank
D'Ambra, and Councilman Steve Okun.
AWIIA 4_ b
jWKWWW Go
Contact Us
You can contact the Village Council using the Village's website, www.teguesta.org, or you can
use their individual e-mail addresses.
Mayor Abby Brennan
abrennan@teguesta.org
Vice -Mayor Vince Arena
varena@tequesta.org
Councilman Frank D'Ambra
fdambra@teguesta.org
Councilman Steve Okun
sokun@tequesta.org
Councilman Tom Paterno
tpaterno@teguesta.org
To contact the Village Council by phone please see page 46 of this document for a complete
listing of phone numbers or you can contact the Administration Office at 561-768-0460.
[3]
The Village of Tequesta Proposed Budget 1
www.Tequesta.org
In addition to contacting the Village Council, did you know that you can use the Village's
website to:
• Keep up to date with the latest news affecting the Village
• Access electronic notifications
• Access emergency alerts
• Access hurricane information
• Access public records
• View dates and times of upcoming meetings and workshops
• View the Village's Code of Ordinances
• View Council Procedures
• View Council Member bios
• View annual Budgets and Comprehensive Annual Financial Reports (CAFRs)
• View the Village's Business Directory
• View current bid requests and requests for proposals (RFPs)
• View the Village's newsletter, Smoke Signals
• Apply for a business license
• Apply for a job
• Apply for a permit
• Contact Council
• Contact Staff
• Pay your water bill
• Report a concern
• Reserve a park or a pavilion
• Sign up to receive electronic notifications
• Submit "Fix it" forms
• Submit records requests
• Volunteer
[4]
Organization Chart
151
Demographic and Economic Statistics
Incorporated June 4, 1957
Village Council -Manager Form of Government �&
2 Council members are elected in odd years,
3 Council Members are elected in even years
W b
�r
The Village of Tequesta held its first election on March 15, 1960
61
Number of voters that voted at the March 15, 1960 election: 6
With 5,875 residents, 0.03% of the population
of the State of Florida lives in Tequesta (est. US Census Bureau 2014)
..... 1
'i'•"" There are 2,519 households in The Village of Tequesta with an average household
size of 2.28 (est. US Census Bureau 2014)
The medium value of owner -occupied
housing units from 2010-2014 is $287,400 (est. US Census Bureau 2014)
QttThe owner -occupied housing unit rate from 2010-2014 is $79.6%
(est. US Census Bureau 2014)
The median household income in Tequesta, 2010-2014
was $54,787 (est. US Census Bureau 2014)
[61
Demographic and Economic Statistics
ar
Tequesta's racial/ethnic groups are White (91.1%) followed by Hispanic (6.1%),
Asian (1.3%), African American (0.6%) and American Indian and Alaska Native (0.1%) (est. US
Census Bureau 2010)
4,813 Registered Voters in Fiscal Year 2016 �-
• 101 Full Time Employees Budgeted in Fiscal Year 2018
8 + 6
Your area is about 2 square miles 0
4kThe length of your streets = Approximately 24 lane miles
1 ,g
aa�a
., goo 0 C
a�
via.
You have one library
SCNOO�
M p m
Your school district is Palm Beach County
[71
The Village of Tequesta Proposed Budget 1
Boards and Committees
Planning & Zoning Board
• The Planning and Zoning Board meets as needed on the Yd Thursday of the month to
consider site plan reviews and related project items.
• Members serve three (3) year terms and alternates serve two (2) year terms.
General Employees' Pension Board
• The General Employees' Pension Board meets on the first Monday of February, May,
August and November of each year.
• The primary responsibilities of the Board of Trustees are to construe the provisions of
the retirement system and to protect the funds and assets of the plan.
Public Safety Employees' Pension Board
• The Public Safety Employees' Pension Board meets on the first Monday of February,
May, August and November of each year.
• The primary responsibilities of the Board of Trustees are to construe the provisions of
the retirement system and to protect the funds and assets of the plan.
Public Safety
A006
BUILDING DEPARTMENT 4;_�'.
Number of Building Permits Issued in Fiscal Year 2016: 1,583
Number of Building Inspections Conducted in Fiscal Year 2016: 2,472
FIRE PROTECTION
Number of Stations in Fiscal Year 2016: 1
Number of Full Time, Certified Firefighters in Fiscal Year 2016: 22
Number of Ambulances in Fiscal Year 2016: 2
Number of Pumpers in Fiscal Year 2016: 3
Number of Emergency Responses in Fiscal Year 2016: 1,409
Number of Emergency Transports in Fiscal Year 2016: 817
Number of Fires Extinguished/Alarms in FY2016: 254
Number of Inspections in FY2016: 654
Potim
POLICE PROTECTION
Number of Stations in Fiscal Year 2016: 1
Number of Full Time, Certified Officers in Fiscal Year 2016: 18
Number of Full Time, Certified Dispatchers in Fiscal Year 2016: 4
Number of Patrol Units in Fiscal Year 2016: 12
Number of Calls Received in Fiscal Year 2016: 3,109
Number of Arrests in Fiscal Year 2016: 94
Number of Incident Numbers Issued in Fiscal Year 2016: 345
REFUSE & RECYCLING
Services franchised to Waste Management
• Residential solid waste, yard waste and recycling services
• Bi-weekly Pick -Up
191
Recreation
You have 6 Parks covering approximately 62 acres:
• Constitution Park
• Linear Park
• Paradise Park
• Remembrance Park
• Tequesta Park
• Village Green Park
E..'\,veDts
Tequesta Fest
Holiday in the Park
Easter Egg Hunt
Community Yard Sales
Food Truck Pow -Wows
Movies in the Park
® `� V
2 Playgrounds 3 Baseball/Softball Diamonds 1 Skatepark
a...
1 Dog Park Summer and Winter Camps
Various Recreation Programs
[10]
Utilities
WATER UTILITY
Number of Connections in Fiscal Year 2016: 5,055
Miles of Water Mains in Fiscal Year 2016: 77
Number of Fire Hydrants in Fiscal Year 2016: 456
Number of Water Treatment Plants in Fiscal Year 2016: 1
Average Daily Water Production in Fiscal Year 2016: 2.588 MGD
Number of Storage Tanks in Fiscal Year 2016: 2
Storage Capacity in Fiscal Year 2016: 2.75 MG
Number of Surficial Wells in Fiscal Year 2016: 10
Number of Floridian Aquifer Wells in Fiscal Year 2016: 4
STORM WATER
Miles of Storm Water Pipe/Culvert in Fiscal Year 2016: 10.1
Number of Inlets in Fiscal Year 2016: 511
Miles of Ditches and Swales in Fiscal Year 2016: 12.6
Feet of Exfiltration Trenches in Fiscal Year 2016: 528
Number of Dry Retention Ponds in Fiscal Year 2016: 3
Number of Major Storm Water Outfalls in Fiscal Year 2016: 6
Number of Weir Structures in Fiscal Year 2016: 3
Miles of Street Sweeping in Fiscal Year 2016: 108
ELECTRICITY
Electricity provided by Florida Power and Light
SANITARY SEWAGE
Sanitary Sewage provided by Loxahatchee River Environmental Control District
= pUMA�2G�
o9���sTowa��Q�P
The Village of Tequesta Proposed Budget 1
This Page Intentionally Left Blank
[121
Introductory Section
[131
Fund Structure
The basic building block of governmental finance is the "fund". Generally accepted accounting
principles (GAAP) provide the following definition of a fund:
A fund is defined as a fiscal and accounting entity with a self -balancing set of accounts
recording cash and other financial resources, together with all related liabilities and residual
equities or balances, and changes therein, which are segregated for the purpose of carrying on
specific activities or attaining certain objectives in accordance with special regulations,
restrictions, or limitations.
The Village, like other state and local governments, uses fund accounting to ensure and
demonstrate compliance with finance -related legal requirements. All of the funds of The Village
can be divided into three categories: governmental funds, proprietary funds and fiduciary
funds. Operations of each fund are accounted for with a separate set of self -balancing accounts
that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses as
appropriate. Village resources are allocated to and accounted for in individual funds based
upon the purposes for which they are to be spent and the means by which spending activities
are controlled. Governmental Accounting Standards state that an entity should establish only
the minimum number of funds consistent with legal and operating requirements. This is
because the use of unnecessary funds for financial reporting purposes can result in inflexibility,
undue complexity and inefficient financial administration. Any budgeted fund that represents
more than 10% of the total appropriated revenues or expenditures is considered a major fund.
All of The Village's governmental and proprietary funds' budgets are appropriated and legally
adopted by Resolution of the Village Council. The fiduciary funds are excluded as The Village
does not control the resources that are managed in a trustee or fiduciary capacity. The
breakdown of the Village's fund structure is as follows:
Governmental Fund Types
The Village reports the following major governmental fund:
General Fund — This is The Village's primary operating fund. It accounts for all financial
resources of the general government, except those required to be accounted for in another
fund.
The Village also reports the following non -major governmental funds:
Capital Improvement Fund —This fund is used to account for the maintenance and upkeep of
The Village's genera infrastructure (such as roads, bridges and sidewalks) and streetscape
beautification projects.
[14]
Fund Structure
Capital Proiects Fund — This fund accounts for the acquisition or construction of various major
capital projects.
Special Law Enforcement Fund — This fund accounts for forfeitures received by the Police
Department. The forfeitures must be expended for certain law enforcement purposes as
prescribed by Florida State Statue Chapter 932.704.
Proprietary Fund Types
The Village reports the following major proprietary fund:
Water Utility Fund —This fund is used to account for the activities of the water operations.
The Village also reports the following non -major proprietary funds:
Refuse and Recycling Fund — This fund is used to account for the fees charged for solid waste
and recyclable material collection.
Storm Water Utility Fund — This fund accounts for the construction and maintenance of The
Village's storm water system.
Fiduciary Fund Types
The Village reports the following fiduciary funds:
Firefighters' Pension Trust Fund —This fund accounts for the accumulation of resources and for
contributions and benefits of the firefighter employees of the Village.
General Employees' Pension Trust Fund — This fund accounts for the accumulation of resources
and for contributions and benefits of the general employees of the Village.
Police Officers' Pension Trust Fund —This fund accounts for the accumulation of resources and
for contributions and benefits of the police employees of The Village.
[15]
Budeet Basis and Process
Budget Basis
The term "basis of accounting" is used to describe when revenues and expenditures or expenses are
recognized in the accounts and reported on the financial statements. In accordance with generally
accepted accounting principles (GAAP), governmental funds are required to use the modified accrual
basis of accounting; revenues are recorded when they become earned (or levied for the period),
measurable and available and expenditures are recorded when the related fund liability is incurred.
Proprietary and fiduciary funds are required to use the accrual basis of accounting; revenues are
recorded when they are earned and expenses in the period in which costs are deemed to have expired
or been consumed. The Village's Budget is adopted on a basis substantially consistent with GAAP with
the following major exceptions:
• Compensated absences liabilities that are expected to be liquidated with expendable available
financial resources are accrued as earned by employees (GAAP), as opposed to being expended
when paid (budget).
• Principle payments on long-term debt in the proprietary funds are applied to the outstanding
liability on a GAAP basis, as opposed to being expended on a budget basis.
• Capital outlay within the proprietary funds is recorded as an asset on a GAAP basis and
expended on a budget basis.
• Budgeted depreciation takes into consideration the effects of both capital outlay and the pay
down on principle of long term debt in total in the proprietary funds.
Budget Process
Budgets are vital tools for establishing public policy and maintaining control over the management of
public resources. The Village of Tequesta's Village Council determines, by its approval, how much and
what types of financial 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.
The Village of Tequesta's budget process is driven by the Village of Tequesta's Charter and Florida
Statute Chapter 200.065 known as TRIM (Truth in Millage). The Village Charter requires that the Village
Council adopt budgets and the TRIM Act requires the disclosure of information from the taxing
authorities to the taxpayers.
The TRIM Act will only allow a taxing authority to receive the same dollar amount of property tax in each
subsequent year without advertising a tax increase. If property values increase, exclusive of new
construction, the taxing authority is required to reduce, or roll -back, the millage rate in order to receive
the same tax dollars as the previous year. Any millage in excess of the rolled -back millage is considered a
tax increase and must be publicly advertised and publicly announced at two public hearings prior to the
adoption of the budget.
The budget for the fiscal year is implemented October 1" through September 30"'. As the original
budgeted appropriations are adopted by Resolution, all changes to the total appropriations of a fund
must also be adopted by Resolution. The Village Council has established procedures by which a
designated budget officer may authorize certain budget amendments within a department provided
that the total of the appropriations of the department is not changed. At this time the Finance Director
has been designated as the Budget Officer.
[16]
The Village of Tequesta Proposed Budget
Annual Budget Process
Budget Preparation (February)
-Village Manager Approves
Budget Calendar
-Budget Calendar is Distributed
to Departments
-Budget Preparation Manuals
are Distributed to
Departments
Adopted Budeet (September)
-First Public Hearing Adopting
a Tentative Millage Rate and
Budget
-Second Public Hearing
Adopting a Final Millage Rate
and Budget
Approved Budget
(June -August)
-Village Manager Submits
Budget to the Village Council
-Village Council Workshops
-Village Council Approval
[17]
Budget Requests
(February -May)
-Departments Prepare Budget
Estimates and Requests and
Submits them to the Finance
Dept.
-CIP is Reviewed and Updated
-Departments Meet with the
Finance Department
-Finance Department Finalizes
Budget Worksheet
Proposed Budget
(May -July)
-Finance Department Submits
Budget Worksheet to Village
Manager
-Departments Meet with the
Village Manager
-Village Manager Finalizes
Budget Worksheet
This Page Intentionally Left Blank
[18]
Fund Balance
® Fund balance is the fund equity as a result of the difference of revenues to
expenditures. Fund balance increases when revenues exceed expenditures, while fund
balance decreases when expenditures exceed revenues.
® Fund balance of governmental funds is reported in various categories based on the
nature of any limitations requiring the use of resources for specific purposes. The
categories are as follows:
➢ Nonspendable funds are not in a spendable form or must be maintained intact.
Examples of theis are inventories, prepaid expenditures, and loans to various
agencies.
➢ Restricted funds can only be used for the specific purposes as stipulated by (1)
external creditors, grantors, or laws of other governments (2) constitutionally, or
through enabling legislation.
➢ Committed funds are those constrained by limitations that the government
imposes on itself at the highest level of decision -making authority. Commitments
may be changed or lifted only by the same formal action that imposed the
original constraint.
➢ Assigned funds are intended to be used by the government for a specific
purpose. This intention can be expressed by the governing body, an official, or a
body to which the governing body delegates the authority.
➢ Unassigned funds are the residual fund balance classification for the general
fund after deducting non -spendable, restricted, committed and assigned fund
balance and are technically available for any purpose.
® The Village Council has adopted a financial policy to maintain a minimum level of
unassigned fund balance in the general fund. The target level is set at two months of
general fund operating expenditures. This amount is intended to provide fiscal stability
when economic downturns and other unexpected events occur. If fund balance falls
below the minimum target level because it has been used, essentially as a "revenue"
source, as dictated by current circumstances, the policy provides for actions to replenish
the amount to the minimum target level. Generally, replenishment is to occur within a
three-year period.
[19]
Some Questions that You May Have
What is the purpose of the Village budget? Budgets are vital tools for establishing policy and
maintaining control over the management of public resources - like your tax dollars. The Village
of Tequesta's Village Council determines how much and what types of financial resources shall
be raised and how they will be spent. Their required approval of the budget demonstrates the
principle that taxes can only be raised or expended with the approval of the people's elected
representatives.
How is the budget prepared? Departments meet with and submit their budgetary needs for
the coming year to the Finance Department, which enters the information into a draft
document which is sent to the Village Manager for review. The Village Manager reviews these
requests, makes changes and submits the budget document to the Village Council. The Village
Council holds workshops for discussion on the budget and two public hearings to obtain citizen
input prior to adoption. Finally, the Village Council, in compliance with the Truth-in-Millage
(TRIM) Act, establishes the property tax rate (millage) required to fund the budget and adopts
the final budget by resolution.
Who established the rules by which the Village of Tequesta adopts its annual budget and
property tax rate? The property tax rate and budget adoption process are governed by both
the Village Charter and State Statutes.
What is the property tax rate? The property tax rate is sometimes called the "millage rate".
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.
The proposed, total property tax rate for 2017 on property in the Village of Tequesta is
20.5131 mills. How much of that gets paid to the Village? Only 6.2920 mills (31%) of the
proposed, total property tax bill collected in Fiscal Year 2018 will be paid to the Village. The
remainder goes to other taxing agencies
What is the difference between ad valorem tax and property tax? There is no difference; they
are different names for the same tax.
What is an Operating Budget? An Operating Budget is an annual financial plan for recurring
expenditures, such as salaries, utilities, supplies, insurance, and equipment repairs.
What is a Capital Budget? A Capital Budget is an annual financial plan for the construction or
improvement of fixed assets such as buildings, street, sewers, and vehicles and equipment.
[20]
Some Questions that You May Have
What is the Village's fiscal year? A fiscal year is a 12-month operating cycle that comprises a
budget and financial reporting period. The Village's fiscal year begins on October 15i and ends
on September 301h
What is a budget appropriation? A budget appropriation is a specific amount of money that
has been approved by the Village Council for use in a particular manner.
Where does the Village obtain its revenues? 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 utility services.
What are utility taxes and franchise fees and why does the Village of Tequesta levy them? A
utility tax is a tax levied on utility bills, to be paid by the user of the utility services. 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.
How does the Village calculate Ad Valorem taxes? An ad valorem tax is based upon the
assessed value of property and expressed in mills - one mill is 1/1000 of a dollar or $1 per
$1,000 of taxable value. The state constitution provides municipalities the authority to levy Ad
Valorem taxes and sets a cap of ten mills for all municipal purposes.
What is a Homestead Exemption? Every person who owns and resides on real property in
Florida on January 1 and makes the property their permanent residence is eligible to receive a
homestead exemption of $25,000. This exemption applies to all property taxes. There is also an
additional $25,000 homestead exemption available to properties with an assessed value
greater than $50,000; however, this additional exemption applies only to non -school taxes.
What is the 3% Cap? By Florida's Constitution, the 3% cap, also known as Save Our Homes,
limits the annual increase in the assessed value of a qualified homesteaded property to the
lesser of 3% or the percentage change in the prior year's National Consumer Price Index.
What is Portability? Portability went into effect on January 1, 2008. Portability relates to
Florida's Save Our Homes 3% cap on a homesteaded property's assessed value. With the
Portability benefit, you can transfer up to $500,000 of your actual assessment cap savings to
your new property. Keep in mind Portability applies only to homesteaded property.
[21]
This Page Intentionally Left Blank
[22]
Property Values and Ad Valorem Taxes
[23]
The Village of Tequesta Proposed Budget 1
2017 Property Value Highlights
® The gross taxable value of property for operating purposes rose by $58,547,553 or 5.85%
since the previous year.
jI.,A
New construction totaled $1,854,723
Existing property values increased by $56,692,830 or 5.66%
® This resulted in total property values (for operating purposes) of $1,060,772,539 in 2017.
This is the sixth consecutive year that values have increased.
1,200,000,000
1,000,000,000
800,000,000
600,000,000
400,000,000
200,000,000
Property Value History
FY2014 FY2015 FY2016 FY2017 FY2018
m Existing Property Values
Sources: 2017 Certification of Taxable Value Form DR-420 and 2014-2016 Certification of
Final Taxable Value Forms DR-422.
[24]
This Year's Ad Valorem Tax Revenue
This year's ad valorem taxes budget is calculated as follows:
$1,059,844,638 2017 Estimate of Taxable Value
x 0.006292 Proposed Fiscal Year 2018 Millage Rate
$6,668,542
$6,668,542 Fiscal Year 2018 Estimated Ad Valorem Taxes
96.20% Fiscal Year 2018 Anticipated Collection Rate
$6,415,138
$6,415,100 Fiscal Year 2018 Budgeted Ad Valorem Taxes
30,000.00 Fiscal Year 2018 Budgeted Delinquent Ad Valorem Taxes
$6,445,100 Total Fiscal Year 2018 Budgeted Ad Valorem Taxes
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
Budgeted Ad Valorem Tax History
FY2014 FY2015 FY2016 FY2017 FY2018
of Current Year Delinquent
[25]
Components of Your Total Tax Bill
Fiscal Year 2016/2017
Fiscal Year 2017/2018
Tax Bill at
Tax Bill at
$300,000
Proposed $300,000
%
FY 16/17 Taxable
FY 17/18 Taxable
Millage Value
Millage Value
Increase
Ad Valorem Taxes
The Village of Tequesta
6.292 $1,573
6.292 $1,573
0.00%
Palm Beach County Operating
4.7815 $1,195
4.7815 $1,195
0.00%
Palm Beach County Debt
0.1327 $33
0.1208 $30
-8.97%
Palm Beach County Library Oper.
0.5491 $137
0.5491 $137
0.00%
Palm Beach County Library Debt
0.0442 $11
0.04 $10
-9.50%
School Board -Local
2.498 $687
2.498 $687
0.00%
School Board -State
4.572 $1,257
4.271 $1,175
-6.58%
S.F.W.M.D. Operating
0.1359 $34
0.1275 $32
-6.18%
S.F.W.M.D. Okeechobee Basin
0.1477 $37
0.1384 $35
-6.30%
S.F.W.M.D. Everglades Constr.
0.0471 $12
0.0441 $11
-6.37%
Children's Services Council
0.6833 $171
0.659 $165
-3.56%
Florida Inlet Navigational Dist.
0.032 $8
0.032 $8
0.00%
Health Care District
0.9743 $244
0.8508 $213
-12.68%
Jupiter Inlet District
0.1216 $30
0.1089 $27
-10.44%
Totals:
21.0114 $ 5,430
20.5131 $ 5,298
-2.43%
Non -Ad Valorem Assessments
Solid Waste Authority
$ 170
$ 174
2.35%
Tequesta Refuse & Recycling
$ 1S8
$ 158
0.19%
Tequesta Stormwater*
$ 90
$ 99
10.00%
Totals: $ 418 $ 43111 3.18%
*Storm water non -ad valorem rates vary as they are based on the impermeable surface area of property.
*Calculated using the $50,000.00 Homestead Exemption except for School Boards which were
calculated using the $25,000.00 Homestead Exemption.
Proposed FY2O17 Millage Rates by Taxing Authority
f-.
[261
u School Board
v Village of Tequesta
u Palm Beach County
o Other Taxing Authorities
The Village of Tequesta Proposed Budget 1
Millage Rate History
Last Ten Fiscal Years
Fiscal Year Ending
Village of Tequesta
Total of Other Taxing
Total
September 30,
Millage Rate
Authorities Millage Rates
Millage Rates
2009
5.7671
14.1162
19.8833
2010
5.7671
15.7149
21.482
2011
5.7671
16.4482
22.2153
2012
5.7671
16.0649
21.832
2013
5.7671
15.6347
21.4018
2014
6.0500
15.3583
21.4083
2015
6.2920
15.2993
21.5913
2016
6.2920
15.2572
21.5492
2017
6.2920
14.7194
21.0114
2018*
6.2920
14.2211
20.5131
25
20
15
10
5
0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
M The Village of Tequesta o Other Taxing Authorities Combined
*Proposed Millage Rates
Source: Palm Beach County Property Appraiser
[27]
W 1,100
C
0
g 1,000
900
800
700
600
500
400
7
0
6
5
4
3
2
Gross Taxable Value
Last 10 Fiscal Years
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
Total Taxes Levied
Last 10 Fiscal Years
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
*Data charted in purple on the graphs above was obtained from the DR-420. The other data
was obtained from the DR-422.
[281
The Village of Tequesta Proposed Budget 1 S
Proposed Fiscal Year 2018 Budget
Summary - All Funds
*The fiduciary funds are excluded as The Village does not control the resources that are
managed in a trustee or fiduciary capacity.
[291
Proposed FY2018 Budget - A11 Funds by Fund Type
Governmental Funds
General Fund
$12,626,200
Capital Improvement
$590,000
Capital Projects
$200,000
Special Law Enf.
$0
Total Governmental Funds:
$13,416,200
Proprietary Funds
Water Utility $6,259,550
Refuse & Recycling $499,400
Storm Water $715,700
Total Proprietary Funds: $7,474,650
25
0
20
15
10
5
0
Total Budget by Fund Type: Fiscal Years 2016-2018
FY2016 Actual FY2017 Estimated FY2018 Proposed
[301
v Proprietary Funds
M Governmental Funds
Where the Money Comes From - All Funds - Revenues
llrho, Roomy—
Transfer
4%
Intergovernmental
Revenues
4%
Sales & Use Tax(
7%
Appropriate
Balanc(
10%
Charges for Services
$
7,351,350
Ad Valorem Taxes
$
6,445,100
Appropriate Fund Balance
$
2,126,300
Sales & Use Taxes
$
1,487,300
Intergovernmental Revenues
$
861,200
Transfers In
$
740,100
Other Revenues
$
1,879,500
Total Revenues:
$
20,890,850
Where the Money Goes - All Funds - Expenditures
Other Expenditures
8%
Debt Service
S%
Transportation
10%
General
Governmei
11%
Physical Environment
$
6,911,950
Public Safety
$
6,847,850
General Government
$
2,193,250
Transportation
$
2,187,500
Debt Service
$
1,045,800
Other Expenditures/Expenses
$
1,704,500
Total Expenditures:
$
20,890,850
[311
Budget Summary - All Funds
General Capital Capital
Fund Improvement Projects
REVENUES
Ad Valorem Taxes
6,445,100
Sales and Use Taxes
1,487,300
Franchise Fees
460,000
Licenses and Permits
516,000
Intergovernmental Revenues
861,200
Charges for Services
1,175, 950
Miscellaneous Revenues
260,700
Int ragovern mental Services
577,300
Unrestricted Investment Earnings
5,500
Other Financing Sources
TOTAL REVENUES
$11,789,050
$0
$0
Transfers In
$540,100
$200,000
Fund Balances/Reserves/Net Assets
$837,150
$49,900
TOTAL REVENUES, TRANSFERS &
BALANCES
$12,626,200
$590,000
$200,000
EXPENDITURES
General Government
2,193,250
Public Safety
6,847,850
Physical Environment
Transportation
1,597,500
590,000
Leisure Ser\nces
728,600
200,000
Debt Service
505,100
Other Financing Uses
13,800
TOTAL EXPENDITURES
$11,886,100
$590,000
$200,000
Transfers Out
$740,100
Fund Balances/Reserves/Net Assets
TOTAL APPROPRIATED EXPENDITURES
TRANSFERS, RESERVES & BALANCES
$12,626,200
$590,000
$200,000
[32]
Budget Summary - A11 Funds
Water Refuse & Stormwater Special Law
Utility Recycling Utility Enforcement
5,316,100
17,000
8,500
34,500
484,000 375,300
Tota I
6,445,100
1,487,300
460,000
516,000
861,200
7,351,350
277,700
577,300
14,000
34,500
$5,376,100 $484,000 $375,300 $0 $18,024,450
740,100
$883,450 $15,400 $340,400 2,126,300
$6,259,550 $499,400 $715,700 $0 $20,890,850
2,193, 250
6,847,850
5,709,250 499,400 703,300
6,911,950
2,187, 500
928,600
528,300 12,400
1,045,800
22,000
35,800
$6,259,550 $499,400 $715,700
$0 $20,150,750
740,100
$6,259,550 $499,400 $715,700 $0 $20,890,850
[33]
Proposed FY2018 Expenditure Appropriations by Department
All Funds
The Village has a total of twenty-two (23) funded departments in the Proposed Fiscal Year 2018
Budget. Detailed information on each Department is presented in the Department Detail
Section of this document beginning on page 46.
Below is a summary of Proposed Fiscal Year 2018 department appropriations for both
Governmental and Proprietary Funds and total full-time employees.
Proposed Fiscal Year 2018 Budget
Governmental Proprietary Total Full Time
Dept. DEPARTMENT BUDGETS Funds Funds Funds Employees
100
Village Council
$58,050
$0
$58,050
0
110
Village Manager
$236,250
$0
$236,250
1.5
111
Human Resources
$315,300
$0
$315,300
2.25
120
Village Clerk
$314,050
$0
$314,050
2.75
130
Finance
$419,550
$0
$419,550
3.5
140
Legal
$160,000
$0
$160,000
0
150
Community Development
$191,150
$0
$191,150
0
160
General Government
$309,200
$0
$309,200
0
161
I.T.
$189,700
$0
$189,700
1.8
175
Police
$3,150,300
$0
$3,150,300
25
180
Building
$453,200
$0
$453,200
4
192
Fire
$3,244,350
$0
$3,244,350
24
210
Public Works
$2,187,500
$0
$2,187,500
9.1
231
Leisure Services
$928,600
$0
$928,600
3
241
Water Administration
$0
$1,089,100
$1,089,100
2.1
242
Water Production
$0
$1,990,000
$1,990,000
10.8
243
Water Distribution
$0
$902,450
$902,450
9.5
245
Refuse & Recycling
$0
$499,400
$499,400
0
250
Storm Water
$0
$313,300
$313,300
1.7
411
Renewal & Replacement
$0
$1,637,300
$1,637,300
0
700
Debt Service
$505,100
$540,700
$1,045,800
0
900
Interfund Transfers
$740,100
$0
$740,100
0
950
Other Financing Sources & Uses
$13,800
$502,400
$516,200
0
$13,416,200
$7,474,650
$20,890,850
101.0
[341
The Village of Tequesta Proposed Budget 1
Proposed FY2018 Expenditure Appropriations by Department
All Funds
Fire
Police
Public Works
Water Production
Renewal & Replacement
Water Administration
Debt Service
Leisure Services
Water Distribution
Interfund Transfers
Other Financing Sources & Uses
Refuse & Recycling
Building
Finance
Human Resources
Village Clerk
Storm Water
General Government
Village Manager
Community Development
I.T.
Legal
Village Council
Millions
0.0 0.5 1.0 1.5 2.0
[351
2.5 3.0 3.5
This Page Intentionally Left Blank
[361
The Village of Tequesta Proposed Budget 1
Proposed Fiscal Year 2018 Budget
Summary - Governmental Funds
[371
Proposed FY2018 Budget - Governmental Funds
Governmental Funds
General Fund
Capital Improvement
Capital Projects
Special Law Enf.
N 14
C
O_
= 12
10
8
6
4
2
0
$12,626,200
$590,000
$200,000 Cap. Proj. Fund
$0 2%
Cap. Imp.
Fund
4%
Total Budget by Fund: Fiscal Years 2016-2018
FY2016 Actual FY2017 Estimated FY2018 Proposed
[381
u Capital Projects
o Capital Improvement
td General Government
Where the Money Comes From - Governmental Funds -
Revenues
Intergovernmental
Revenues
Appropriate Fund 6%----
Balance
7%
Charges for Services
9%
Sales & Use Taxes
11%
Other Revenues
19%
Ad Valorem Taxes
$
6,445,100
Sales & Use Taxes
$
1,487,300
Charges for Services
$
1,175,950
Appropriate Fund Balance
$
887,050
Intergovernmental Revenues
$
861,200
Other Revenues
$
2,559,600
Total Revenues:
$
13,416,200
Where the Money Goes -
Governmental Funds - Expenditures
Transportation _
i —� Leisure
Services
General
Government
16%
Transfers Out
6%
xpenditures
4%
Public Safety
$
6,847,850
General Government
$
2,193,250
Transportation
$
2,187,500
Leisure Services
$
928,600
Transfers Out
$
740,100
Other Expenditures/Expenses
$
518,900
Total Expenditures:
$
13,416,200
[391
Proposed FY2018 Expenditure Appropriations by Department
Governmental Funds
Governmental Full Time
Dept. DEPARTMENT BUDGETS Funds Employees
100
Village Council
$58,050
0
110
Village Manager
$236,250
1.5
111
Human Resources
$315,300
2.25
120
Village Clerk
$314,050
2.75
130
Finance
$419,550
3.5
140
Legal
$160,000
0
150
Community Development
$191,150
0
160
General Government
$309,200
0
161
I.T.
$189,700
1.8
175
Police
$3,150,300
25
180
Building
$453,200
4
192
Fire
$3,244,350
24
210
Public Works
$2,187,500
9.1
231
Leisure Services
$928,600
3
700
Debt Service
$505,100
0
900
Interfund Transfers
$740,100
0
950
Other Financing Sources & Uses
$13,800
0
$13,416,200
76.9
Fire
Police
Public Works
Interfund Transfers
Leisure Services
Debt Service
Building
Finance
Human Resources
Village Clerk
General Government
Village Manager
Community Development
Legal
I.T.
Village Council
Other Financing Sources
Millions
0.0 0.5 1.0 1.5 2.0 2.5 3.0
I
i
i
i
LL
I
[10]
3.5
The Village of Tequesta Proposed Budget 1
Proposed Fiscal Year 2018 Budget
Summary - Proprietary Funds
[411
The Village of Tequesta Proposed Budget 1
Proposed FY2018 Budget - Proprietary Funds
Proprietary Funds
Water Utility $6,259,550
Refuse & Recycling $499,400
Storm Water Utility $715,700
c
9
0 8
7
6
5
4
3
2
1
0
Refuse & Recycling
Storm 7%
Water
Utility9%I \
Total Budget by Fund: Fiscal Years 2016-2018
FY2016 Actual FY2017 Estimated FY2018 Proposed
[42]
Water
Utility
84%
u Storm Water
o Refuse & Rec.
ki Water
The Village of Tequesta Proposed Budget 1
Where the Money Comes From - Proprietary Funds - Revenues
Other RevenL
1%
Appropriate Fund
Balance
16%
Charges for Services $ 6,175,400
Appropriate Fund Balance $ 1,239,250
Other Revenues $ 60,000
Total Revenues: $ 7,474,650
Where the Money Goes - Proprietary Funds - Expenses
Other Expenditliroc
0%
Capital
1%
Debt Sery
7%
Operating Expenditures
$
3,008,150
Personnel Services
2,211,500
Renewal & Replacement
$
1,637,300
Debt Service
$
540,700
Capital
$
55,000
Other Expenditures/Expenses
$
22,000
Total Expenses:
$
7,474,650
[431
Proposed FY2018 Expenditure Appropriations by Department
Proprietary Funds
Proprietary Full Time
Dept. DEPARTMENT BUDGETS Funds Employees
241
Water Administration
$1,089,100
2.1
242
Water Production
$1,990,000
10.8
243
Water Distribution
$902,450
9.5
245
Refuse & Recycling
$499,400
0
250
Storm Water
$313,300
1.7
411
Renewal & Replacement
$1,637,300
0
700
Debt Service
$540,700
0
950
Other Financing Sources & Uses
$502,400
0
$7,474,650
24.1
Water Production
Renewal & Replacement
Water Administration
Water Distribution
Debt Service
Other Financing Sources
& Uses
Refuse & Recycling
Stormwater
Millions
0.0 0.5 1.0 1.5
[441
W
Proposed Fiscal Year 2018 Budget
Detail - Governmental Funds
[451
Mayor and Council
345 Tequesta Drive
Tequesta, FL 33469
Abby Brennan, Mayor
561-339-0740
abrennan@teguesta.org
Frank D'Ambra, Vice Mayor
561-676-5313
fdambra@teguesta.org
Vince Arena, Council Member
561-310-6444
varena@teguesta.org
Steve Okun, Council Member
561-744-6586
sokun@teguesta.org
Tom Paterno, Council Member
561-748-4222
tpaterno@teguesta.org
This increase is the result of Ordinance 2-15, effective October 1, 2015, which changed the
amount of the monthly fees that the Village Council receives.
[46]
The Village of Tequesta Proposed Budget 1
70,000
60,000
50,000
40,000
30,000
20,000
10,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[47]
I Personnel Expenditures
oOperating Expenditures
e�Capital Expenditures
-**-Revenues
The Village of Tequesta Proposed Budget 1 i
Village Manager
345 Tequesta Drive
Tequesta, FL 33469
561-768-0465
Michael R. Couzzo, Jr.,
Village Manager
mcouzzo@teguesta.org
Personnel: This increase is primarily due to employee salary increases, projected increases in
health insurance premiums and increased defined benefit pension contribution rates.
[481
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[491
I Personnel Expenditures
oOperating Expenditures
Capital Expenditures
=WwRevenues
Human Resources
345 Tequesta Drive
Tequesta, FL 33469
561-768-0415
Merlene Reid,
Human Resources Director
mreid@teguesta.org
Personnel: This increase is primarily due to an increase in the number of employees in the
department. The increase also includes increases in existing employee salaries, projected health
insurance premiums and defined benefit pension contribution rates.
Operating: This increase is primarily due to the addition of contractual service fees for risk
management services.
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[50]
350,000
300,000
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[51]
I Personnel Expenditures
6iia0perating Expenditures
e..dCapital Expenditures
a*$ -Revenues
Village Clerk
345 Tequesta Drive
Tequesta, FL 33469
561-768-0443
Lori McWilliams,
Village Clerk
Imcwilliams@teguesta.org
Personnel: This increase is primarily due to an increase in the number of employees in the
department in FY2017. This increase also includes increases in existing employee salaries,
projected health insurance premiums and defined benefit pension contribution rates.
Operating: The Village was not required to hold an election in FY2017. Funds for that election
were transferred into personnel expenditures to fund the cost of a temporary full time position.
The increase in the FY2018 operating expenditures is the result of adding the election funds
back into the Clerk's operating accounts.
[52]
350,000
300,000
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[531
U Personnel Expenditures
G�Operating Expenditures
Capital Expenditures
=(•Revenues
Finance
345 Tequesta Drive
Tequesta, FL 33469
561-768-0424
Christopher Quirk, CPA,
Finance Director
cquirk@teguesta.org
Personnel: This increase is primarily due to employee salary increases, projected increases in
health insurance premiums and increased defined benefit pension contribution rates. This
increase is offset by a reduction in compensated absences (related to employee turnover in the
Finance Director position).
Operating: This decrease is primarily due to a decrease in other contractual service fees (also
related to employee turnover in the Finance Director position).
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[54]
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[551
I Personnel Expenditures
6..IOperating Expenditures
6""Capital Expenditures
saWwRevenues
Legal
345 Tequesta Drive
Tequesta, FL 33469
Davis & Ashton P.A.
Keith Davis, Esq.
kdavis@teguesta.org
The Village has experienced an increase in legal fees relating to personnel issues.
[561
The Village of Tequesta Proposed Budget 1
300,000
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[57]
I Personnel Expenditures
iiii-ijOperatingExpenditures
oCapital Expenditures
m*WRevenues
Community Development
345 Tequesta Drive
Tequesta, FL 33469
561-768-0457
NZ Consultants
Nilsa Zacarias
nzacarias@teQuesta.org
The Village had several large projects in FY2017.
[58]
The Village of Tequesta Proposed Budget 1 S
250,000
200,000
150,000
100,000
50,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[59]
Iu1 Personnel Expenditures
oOperating Expenditures
t---dCapital Expenditures
.Revenues
The Village of Tequesta Proposed Budget 1
General Government
345 Tequesta Drive
Tequesta, FL 33469
561-768-0465
Michael R. Couzzo, Jr.,
Village Manager
mcouzzo@teguesta.org
Personnel: Personnel expenditures for I.T. are being moved from Dept. 160 (General
Government) to Dept. 161 (I.T.).
Operating: This increase is primarily due to projected increases in auto, liability and property
insurances and an increase in special events funding.
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[601
The Village of Tequesta Proposed Budget 1
500,000
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[61]
IuJ Personnel Expenditures
oOperating Expenditures
t�lCapital Expenditures
=Mh.Revenues
The Village of Tequesta Proposed Budget 1 S
I.T.
357 Tequesta Drive
Tequesta, FL 33469
561-768-0554
Brad Gomberg,
Information Technology Manager
bgomberg@tequesta.org
Personnel: This department is requesting to change a part time position to a full time position.
This budget also includes increases for existing employee salaries, projected health insurance
premiums and defined benefit pension contribution rates.
Operating: The operating budget in this department is for I.T. supplies and travel and per diem
expenditures.
[62]
The Village of Tequesta Proposed Budget 1
200,000
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[631
I Personnel Expenditures
oOperating Expenditures
6--1Capital Expenditures
a*WRevenues
357 Tequesta Drive
Tequesta, FL 33469
561-768-0522
Christopher Elg,
Acting Chief of Police
jmcgrew@teguesta.org
Police
FY 2016 FY 2017 FY 2018
Number of Employees: Actual Estimated Proposed
F/T Certified Police Officers
20 FT / 1 PT
20 FT / 1 PT
20 FT / 1 PT
Communications Officers
4 FT / 3 PT
4 FT / 3 PT
4 FT / 3 PT
Civilian Positions
Total Employees:
1 FT / 2 PT
1 FT / 2.5 PT
1 FT / 2.5 PT
30.00
30.50
30.50
Revenues: This decrease is primarily due to the elimination of PBC 911 revenues from the
FY2018 budget.
Personnel: This increase is primarily due to projected increases in employee salaries, projected
health insurance premiums and coverage and defined benefit pension contribution rates. This
increase is offset by decreases in compensated absences and FRS contributions related to
employee turnover in the Detective position.
Operating: This increase is primarily due to projected increases in auto, liability and property
insurances. It is offset by a projected decrease in building repair costs.
Capital: See page 91 for a detailed listing of FY2018 capital purchases
[64]
The Village of Tequesta Proposed Budget 1
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[65]
I Personnel Expenditures
oOperating Expenditures
l---4Capital Expenditures
-I—Revenues
Building
345 Tequesta Drive
Tequesta, FL 33469
561-768-0511
Jose Rodriguez,
Building Director
Rodriguez@teguesta.org
Revenues: This decrease is primarily due to a decrease in projected code enforcement
revenues.
Personnel: This decrease is primarily due to the elimination of a full time position in FY2017.
This decrease is offset by projected increases in employee salaries, projected health insurance
premiums, defined benefit pension contribution rates and the addition of a part time code
enforcement position.
Operating: This decrease is primarily due to savings in the cost of software support. This
decrease is offset by increased contractual service fees for inspection and scanning services.
700,000
600,000
500,000
400,000
300,000
200,000
100,000
0
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[67]
I Personnel Expenditures
oOperating Expenditures
e...JCapital Expenditures
=M=Revenues
357 Tequesta Drive
Tequesta, FL 33469
561-768-0556
Joel Medina,
Fire Chief
imedina@teguesta.org
Fire
FY 2016 FY 2017 FY 2018
Number of Employees: Actual Estimated Proposed
F/T Certified Firefighters
19.00
20.00
19.00
Interim Firefighters
Non -Firefighter Positions
3.00
3.00
3.00
1 FT / 2.5 PT
1 FT / 3.5 PT
2 FT / 2.5 PT
Total Employees:
25.50
27.50
26.50
Revenues: The Fire Department received two grants in FY2017 totaling $$77,500.00. This is the
primary reason for the decrease in revenues between Fiscal Years 2017 and 2018. The decrease
is offset by projected increases in fire plan review fees; fire extra duty work and Palm Beach
County fire rescue service fees.
Personnel: This department is requesting to change a part time position to a full time position.
This budget also includes increases for existing employee salaries, projected health insurance
premiums and defined benefit pension contribution rates.
Operating: This decrease is primarily due to the recording of vehicle repair and maintenance
services that the Village receives from Palm Beach County Fire Rescue. It is offset by projected
increases in the cost of medical supplies and uniforms.
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[691
uJ Personnel Expenditures
oOperating Expenditures
�dCapital Expenditures
=0IwRevenues
Public Works
136 Bridge Road
Tequesta, FL 33469
6711ML: Mil fYA
Douglas Chambers,
Deputy Public Works Director
dchambers@teguesta.org
Personnel: This department is requesting to add a full time position. This budget also includes
increases for existing employee salaries, projected health insurance premiums and defined
benefit pension contribution rates.
Operating: The Village is required to fund $179,500.00 of FEC track maintenance in FY2018.
This is the primary reason for the increase in operating expenditures. This increase is offset by
decreases in projected road and pathway maintenance costs and the transferring of Station 11
to Dept. 231, Parks and Recreation.
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[701
The Village of Tequesta Proposed Budget 1
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[71]
t—J Personnel Expenditures
6�Operating Expenditures
k,-!Capital Expenditures
aftwRevenues
399 Seabrook Road
Tequesta, FL 33469
561-768-0473
Greg Corbitt,
Director of Parks and Recreation
gcorbitt@tequesta.org
Leisure Services
FY 2016 FY 2017 FY 2018
Number of Employees: Actual Estimated Proposed
Full Time
Part Time
Seasonal
Total Employees:
3.00
3.00
3.00
4.00
4.00
4.00
10.00
10.00
10.00
17.00
17.00
17.00
Personnel: This increase is primarily due to employee salary increases, projected increases in
health insurance premiums and increased defined benefit pension contribution rates.
Operating: This decrease is primarily due to a projected decrease in general maintenance costs.
It is offset by the transferring of Station 11 from Public Works, Dept. 210, to Parks and
Recreation, Dept. 231.
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[721
The Village of Tequesta Proposed Budget 1
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
n
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[731
uPersonnel Expenditures
Operating Expenditures
F�Capital Expenditures
m**wRevenues
The Village of Tequesta Proposed Budget 1
345 Tequesta Drive
Tequesta, FL 33469
561-768-0424
Christopher Quirk, CPA,
Finance Director
cquirk@teguesta.org
2002Note Payable
Holder: Bank of America
Purpose: Public Safety Facility
Original Amount of Loan: $5,000,000
Interest Rate: 4.28%
Term: 20 Years
Expires: September 2022
Capital Lease
Holder: KS State Bank
Purpose: Police Vehicles (7)
Original Amount of Loan: $240,658
Interest Rate: 3.049%
Term: 3 Years
Expires: May 2018
Debt Service
[741
Capital Lease
Holder: Banc of America
Purpose: Sutphen Custom Pumper Truck
and Equipment
Original Loan Amount: $397,922
Interest Rate: 3.61%
Term: 10 Years
Expires: April 2012
Capital Lease
Holder: Community Leasing Partners
Purpose: SCBA (20)
Original Amount of Loan: $132,773.77
Interest Rate: 2.89%
Term: 5 Years
Expires: January 2020
600,000
500,000
400,000
300,000
200,000
100,000
Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated
[751
FY 2018 Proposed
o Interest
ki Principle
345 Tequesta Drive
Tequesta, FL 33469
561-768-0465
Michael R. Couzzo, Jr.,
Village Manager
mcouzzo@teguesta.org
Capital Improvement -
Fund #301
Revenues: The Capital Improvement Fund #301 is receiving a transfer -In from the General Fund
#001 in the amount of $540,100.00. It is also appropriating $49,900.00 from Fund Balance.
Operating: Operating projects budgeted in this fund are as follows:
• US1 Project
Capital: See page 91 for a detailed listing of FY2018 capital purchases.
[76]
FY 2016 FY 2017 FY 2017 FY 2018 Difference
Prior Year Amended Estimated Proposed Budget to
REVENUES: Actual Budget Actual Budget Budget (%)
Total Revenues: 316.800 106.000 106.000 1 540,100 1 409.53%
EXPENDITURES:
R & M - Roads
Pathway Improvements
US1 Protect
Total Expenditures:
166,800
48,000
48,000
320,000
566.67%
48,209
-
-
250,000
N/A
1 8,000
1 108,147
1 108,083
1 20,000
-81.51%
1 223,009
1 156,147
1 156,083
1 590,000
277.85%
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
700,000
600,000
500,000
400,000
300,000
200,000
100,000
(•
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[771
I1 U51 Project
iwm� Pathway Imp.
6..I R&M Roads
mOnRevenues
345 Tequesta Drive
Tequesta, FL 33469
561-768-0465
Michael R. Couzzo, Jr.,
Village Manager
mcouzzo@teguesta.org
Capital Projects -
Fund #303
Revenues: The Capital Projects Fund #301 is receiving a transfer -In from the General Fund #001
for $200,000.00.
Capital: See page 91 for a detailed listing of FY2018 capital purchases
[78]
The Village of Tequesta Proposed Budget 1
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
250,000
200,000
150,000
100,000
50,000
0
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[791
il Operating
1mna Capital
�dTransfers Out
aftwRevenues
The Village of Tequesta Proposed Budget 1
357 Tequesta Drive
Tequesta, FL 33469
561-768-0522
Christopher Elg,
Acting Chief of Police
%mcgrew@tequesta.org
Special Law Enforcement -
Fund #605
The Police Department is not budgeting in this fund in Fiscal Year 2018.
W
The Village of Tequesta Proposed Budget 10
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
200,000
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[81]
i Operating
Capital
®Allocate to Fund Balance
-**-Revenues
This Page Intentionally Left Blank
[821
The Village of Tequesta Proposed Budget 1 2
Proposed Fiscal Year 2018 Budget
Detail - Proprietary Funds
[831
Water Utilities
345 Tequesta Drive
Tequesta, FL 33469
561-768-0493
Sam Heady,
Deputy Utilities Director
sheady@teguesta.or�
Personnel: This budget includes the addition of two (2) full time positions. It also includes
increases in employee salaries, standby pay, projected health insurance premiums and defined
benefit pension contribution rates.
Operating: This increase is primarily due to projected increases in computer system
maintenance, the cost of water system maintenance and the cost of chemicals.
Renewal & Replacement & Capital: The budget in this department varies from year to year
because of the different projects that are scheduled and the different capital purchases that are
made each year.
*See page 91 for a detailed listing of FY2018 capital purchases.
Other: This decrease is primarily due the Budgeted Depreciation.
*Budgeted depreciation is calculated as follows:
Depreciation - Principle - Capital = Budgeted Depreciation
[84]
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated
[85]
FY 2018 Proposed
y Personnel
oOperating Expenditures
1�� Ren & Rep
I Capital Expenditures
o Debt Service
6----a Other
=I=Revenues
The Village of Tequesta Proposed Budget 1
Refuse & Recycling
345 Tequesta Drive
Tequesta, FL 33469
561-768-0424
Christopher Quirk, CPA,
Finance Director
cquirk@tequesta.org
The Village's current refuse and recycling rate of $157.70 will remain unchanged for FY2018.
The number of units projected to receive refuse and recycling services in FY2018 is 3,197. This
remains unchanged from FY2017.
The Village has budgeted for a 4% increase in refuse and recycling expenses for FY2018.
The collection rate for FY2018 remains unchanged at 96%, assuming that all residents will take
advantage of the early payment discount.
The Village is appropriating $15,400.00 in FY2018 to cover the deficit between revenues and
expenditures.
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
600,000
500,000
400,000
300,000
200,000
100,000
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[87]
u Personnel
1..jOperating
6.I Capital
-*I=Revenues
Storm Water Utilities
136 Bridge Road
Tequesta, FL 33469
561-768-0493
Sam Heady
Deputy Utilities Director
sheadv@teguesta.org
Revenues: Storm water utility fees were increased by 10% in FY2018. The collection rate
remains unchanged at 96%, assuming that all residents will take advantage of the early
payment discount. The Village is also appropriating $340,400.00 to cover the deficit between
revenues and expenditures.
Personnel: This increase is due to employee salary increases, projected increases in health
insurance premiums and increased defined benefit pension contribution rates. This increase is
offset by decreases in overtime, standby pay and personnel training.
Operatinp,: This increase is primarily due to contractual labor costs associated with a project on
Pine Tree Drive.
Renewal & Replacement: Funding for misc. drainage system maintenance is being increased.
Debt Service: The Water Utility and Storm Water Utility Funds are entering into a five (5) year
lease for a backhoe in FY2018.
Other: Other includes transfers out and budgeted depreciation.
so
*When expenditures exceed revenues in a fiscal year Fund Balance is used to fund the deficit.
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
M
Revenues and Expenditures by Fiscal Year
FY 2016 Actual FY 2017 Estimated FY 2018 Proposed
[891
1�,.— i Personnel
6iiiia0perating Expenditures
oCapital Expenditures
t-_.- Ren & Rep
o Debt Service
i � Other
=N$nRevenues
The Village of Tequesta Proposed Budget 1
This Page Intentionally Left Blank
[901
Proposed Fiscal Year 2018 Capital
[911
The Village of Tequesta Proposed Budget 1
The Village of Teguesta
Capital Requests
Fiscal Year 2018
Fund: 001 - General Fund - Capital $ 346,400.00
Dept:
111 Human Resources
664.601 Computer Equipment
Integration Software for BSA / BambooHR
$
15,000.00
Dept:
130 Finance
r
664.601 Computer Equipment
Integration Software for BSA / BambooHR
$
15,000.00
Dept.
160 General Government
r
664.600 Machinery & Equipment
Condensing Unit for Village Hall
$
15,000.00
664.601 Computer Equipment
vMware Hosts (2)
$
4,300.00
Dept.
175 Police
664.601 Computer Equipment
PD Laptop Replacement (24)
$
75,000.00
A4mre Hosts (2)
$
7,000.00
Dept:
192 Fire
664.600 Machinery & Equipment
Patient Power Loader (1)
$
22,000.00
664.601 Computer Equipment
A4vare Hosts (2)
$
3,100.00
Dept:
210 Public Works
663.650 Pathways
Pathway Repairs
$
69,000.00
664.607 Equipment - Tech
Fiber to Remote Sites
$
57,000.00
Dept:
231 Leisure Services
663.600 Improvements Other than Buildings
Pumptrack
$
30,000.00
664.600 Machinery & Equipment
John Deere Utility Vehicle
$
9,000.00
Zero Turn HD44 GravelyZT Mower
$
5,000.00
664.607 Equipment - Tech
Fiber to Remote Sites
$
20,000.00
[921
The Village of Tequesta Proposed Budget 1 S
The Village of Teauesta
Capital Requests
Fiscal Year 2018
Fund: 301 - Capital Improvement Fund - Capital $ 570,000.00
Dept: 210 Public Works
663.652 Pathway/Sidewalk Improvements
Pathway/Sidewalk Improvements $ 250,000.00
663.657 Roadway Improvements
Roadway Resurfacing $ 320,000.00
Fund: 301 - Capital Improvement Fund - Capital
$ 200,000.00
Dept: 210 Public Works
663.632 Architecture & Engineering -Other
Rec Center
$
200,000.00
Fund: 401 - Water Fund - Capital
$ 209,300.00
Dept. 411 Renewal and Replacement
664.600 Machinery & Equipment
Acoustic Water Leak Detection Equipment
$
20,000.00
Portable Electric Valve Operator
$
10,000.00
Backhoe
$
55,000.00
664.601 Computer Equipment
vMware Hosts (2)
$
2,300.00
664.602 Vehicles
Truck
$
40,000.00
664.607 Equipment - Tech
Fiber to Remote Sites
$
82,000.00
Fund: 403 - Storm Water Fund - Capital
$
55,000.00
Dept. 250 Storm Water
664.600 Machinery & Equipment
Backhoe
$
55,000.00
[93]
This Page Intentionally Left Blank
[94]
Glossary
[951
The Village of Tequesta Proposed Budget 1
0
ACCRUAL BASIS OF ACCOUNTING: This is a method of accounting that recognizes the financial
impact of transactions; revenues are recorded when they are earned and expenses in the
period in which costs are deemed to have expired or been consumed.
AD VALOREM TAXES: Property taxes computed as a percentage of the value of real or personal
property expressed in mills. This tax is also called "Property Tax".
ADOPTED BUDGET: This is the financial plan for the fiscal year beginning October 1ST and
ending September 30th. Florida Statutes require the Village of Tequesta to adopt a budget at
the second of two public hearings.
AMENDED BUDGET: The original adopted budget plus any amendments passed as of a certain
date.
AMMORTIZATION: This is the gradual elimination of a liability, such as a mortgage in regular
payments over a specified period of time and the method used to prorate the cost of a specific
type of asset to the asset's life.
ANNEXATION: This is the legal process of merging land from one governing authority to
another. An example would be when an incorporated body annexes land previously governed
as unincorporated by a county.
ASSESSED VALUATION: The dollar value assigned to a property by the Palm Beach County
Property Appraiser for purposes of measuring applicable taxes.
APPROPRIATE FUND BALANCE: The process of bringing forward unspent dollars from previous
fiscal years' budgets to the current year's budget. All appropriations need approval from the
Village Council.
APPROPRIATION: a sum of money or total of assets devoted to a special purpose. All
appropriations need approval from the Village Council.
Ans
BASIS OF ACCOUNTING: an accounting term that is used to describe when revenues and
expenditures or expenses are recognized in the accounts and reported on the financial
statements.
BALANCED BUDGET: a budget in which revenues equal expenditures/expenses.
[961
The Village of Tequesta Proposed Budget 1
BUDGET: A fiscal plan of financial activity for a specified period of time indicating all planned
revenues and expenses for the budget period.
BUDGET AMENDMENT: Generally done on a semi-annual basis by which unanticipated changes
in revenue or expenditures are made a part of the budget, thereby amending it.
BUDGETARY CONTROL: The control or management of a governmental unit in accordance with
an approved budget for the purpose of keeping expenditures within the limitations of available
appropriations and available revenues.
[so
CAPITAL BUDGET: The annual financial plan for the construction or improvement of fixed assets
such as buildings, street, sewers, and vehicles and equipment.
CAPITAL EXPENDITURE: Expenditures which result in the acquisition of, or improvement to,
fixed assets: buildings, streets, sewers, vehicles, etc.
CAPITAL IMPROVEMENT PLAN (CIP): A multi -year plan that forecasts spending for all
anticipated capital projects. The plan addresses the repair and replacement of existing
infrastructure. It also helps to identify needed capital projects and to coordinate facility
financing and timing.
CASH MANAGEMENT: Cash management refers to the activities of forecasting the inflows and
outflows of cash, mobilizing cash to improve its availability for investment, establishing and
maintaining banking relationships and investing funds in order to achieve highest interest and
return available for temporary cash balances.
COST OF LIVING ADJUSTMENT (COLA): Periodic changes in wages or benefits designed to
compensate for the effects of inflation.
CONTINGENCY: An appropriation to cover emergencies or unforeseen expenditures.
CPI: Consumer Price Index.
DEBT SERVICE: The payments required for interest on, and repayment of, principle amounts of
debt.
DEPARTMENT: A major unit of organization in the Village which indicates an overall operation
or group of related operations within a functional area.
[97)
DEPRECIATION: a reduction in the value of an asset with the passage of time, due in particular
to wear and tear.
DOR: Department of Revenue.
E
ENCUMBRANCE: An amount of money committed for the payment of goods or services not yet
received or paid for.
ENTERPRISE FUNDS: a separate accounting and financial reporting mechanism for municipal
services for which a fee is charged in exchange for goods or services. The Village has three (3)
Enterprise Funds: Water Utility, Refuse & Recycling and Storm Water.
ESTIMATED EXPENDITURES: Projections of funds to be spent during the fiscal year.
ESTIMATED REVENUES: Projections of funds to be received during the fiscal year.
EXPENDITURE/EXPENSE: an amount of money spent.
F
FISCAL YEAR (FY): A fiscal year is a 12-month operating cycle that comprises a budget and
financial reporting period. The Village's fiscal year begins on October 1st and ends on
September 301h
FIXED ASSETS: assets that are purchased for long-term use and are not likely to be converted
quickly into cash such as land, buildings and equipment.
FRANCHISE FEES: 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.
FRS: Florida Retirement System
FUND: a fiscal and accounting entity with a self -balancing set of accounts recording cash and
other financial resources, together with all related liabilities and residual equities or balances,
and changes therein, which are segregated for the purpose of carrying on specific activities or
attaining certain objectives in accordance with special regulations, restrictions, or limitations.
FUND BALANCE: the fund equity as a result of the difference of revenues to expenditures. Fund
balance increases when revenues exceed expenditures, while fund balance decreases when
expenditures exceed revenues.
IM
The Village of Tequesta Proposed Budget 1 t
EC,
GENERAL FUND: The Village's primary operating fund. It accounts for all financial resources of
the general government, except those required to be accounted for in another fund.
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP): These comprise the uniform
minimum standard of, and guidelines for, financial accounting and reporting. They govern the
form and content of an entity's basic financial statements. GAAP encompasses the convention,
rules and procedures necessary to define accepted accounting practices at a particular time.
GFOA: Government Finance Officers Association
GOVERNMENTAL FUND TYPES: Funds used to account for the acquisition, use and balances of
expendable financial resources and the related current liabilities, except those accounted for in
proprietary and fiduciary funds.
GRANT: a sum of money or other assets received from another governmental entity, to be used
or expended for a specific purpose.
GROSS DOMESTIC PRODUCT (GDP): The total value of goods produced and services provided in
the United States during one year.
H
HOMESTEAD EXEMPTION: Every person who owns and resides on real property in Florida on
January 1 and makes the property their permanent residence is eligible to receive a homestead
exemption up to $50,000. The first $25,000 applies to all property taxes, including school
district taxes. The additional exemption up to $25,000, applies to the assessed value between
$50,000 and $75,000 and only to non -school taxes.
INTER -FUND TRANSFERS IN/OUT: Monies transferred from one Fund to another. Such money
is transferred to finance the operations of another Fund or to reimburse the Fund for certain
expenditures/expenses.
INTER -LOCAL AGREEMENT: A written agreement between the Village and other units of
government to share in similar services, projects, emergency assistance support, funding, etc.
for the mutual benefit of all parties.
IMPACT FEES: A type of service charge imposed on new construction in order to support
specific new demands on a given service, e.g., transportation, schools, parks and fire
protection.
INTANGIBLE PERSONAL PROPERTY: All personal property that is not itself valuable, but it's
valuable because of what it represents. The most common examples are shares of stocks issued
by any corporation, bonds issued by corporations or state, county or municipal governments
outside the state of Florida or shares of units of ownership in mutual and money market funds,
and limited liability companies.
INTANGIBLE PERSONAL PROPERTY TAX: An annual tax based on the market value, as of
January 15', of the intangible personal property owned by a Florida business or by a non -Florida
business that has a tax status in Florida.
INTERGOVERNMENTAL REVENUES: Revenues from other governments in the form of grants,
entitlements, shared revenues or payments in lieu of taxes.
L
LEVY: To impose taxes, special assessments or service charges for the support of Village
activities.
LINE ITEM BUDGET: A budget that lists each expenditure category separately, such as salaries
and wages, office supplies, uniforms, etc., along with the dollar amount budgeted for each
specific category.
LONG-TERM DEBT: Debt with a maturity of more than one year after the date of issuance.
MILL: A monetary measure equating to 0.001 of a dollar. When referring to the Ad Valorem tax
it means that a 1-mill tax is one dollar of tax on $1,000 of taxable value.
MILLAGE RATE: The rate per one thousand dollars of taxable property value which, when
multiplied by the taxable value, yields the tax billing for a given parcel. It is the tax rate used to
generate Ad Valorem tax revenue.
MODIFIED ACCRUAL BASIS OF ACCOUNTING: This is a method of accounting that recognizes
the financial impact of transactions; revenues are recorded when they become earned (or
levied for the period), measurable and available and expenditures are recorded when the
related fund liability is incurred.
� 1L 1,
NET BUDGET DEPRECIATION: Depreciation expense less budgeted capital and principle debt
payments.
[100]
The Village of Tequesta Proposed Budget 1 S
NON -AD VALOREM ASSESSMENT: A fee levied on certain properties to defray all or part of the
cost of a specific capital improvement or service deemed to benefit those properties. The value
of the property is not considered when calculating a non -ad valorem assessment. Instead, the
cost of the facility or the service is allocated proportionately to the benefited properties in a
defined area. It is sometimes referred to as a Special Assessment. Generally, this is collected by
the Tax Collector's Office on the annual consolidated tax bill like ad -valorem taxes.
OPERATING BUDGET: The annual financial plan for on -going program costs, including salaries
and benefits, services and supplies and debt service.
ORDINANCE: A formal legislative enactment by the Village Council that has the full force and
effect of law within Village boundaries unless re-empted by a higher form of law. An ordinance
has a higher legal standing than a resolution.
ORIGINAL BUDGET: The original adopted budget.
PERSONNEL SERVICES: Expenditures for salaries, wages and fringe benefits of a government's
employees.
PORTABILITY: A legislative provision that was enacted as part of Constitutional Amendment 1
that allows Florida homeowners to transfer a portion of their Save Our Homes taxable value
reduction when they move to another homesteaded property in the State of Florida. Portability
reduces the local government tax base by reducing taxable values of homesteaded properties.
Portability benefits must be requested by taxpayers.
PROPERTY TAX: Another term for ad valorem tax. See definition for Ad Valorem Taxes.
PROPOSED BUDGET: The Village Manager's fiscal plan of financial activity for the upcoming
fiscal year which is submitted to the Village Council for consideration.
PROPRIETARY FUND: A group of funds in which the services provided are financed and
operated similarly to those of a private business.
0
RESERVES: Funds set aside for a particular purpose.
RESOLUTION: A special order of the Village Council. A resolution has a lower legal standing than
an ordinance.
[1011
The Village of Tequesta Proposed Budget 1
RETAINED EARNINGS: The amount of financial resources available for use in an Enterprise
Fund. Similar to "Fund Balance", it represents the excess of all prior years' surpluses and
deficits.
REVENUE: An amount of money received.
ROLLED BACK RATE: The tax rate which when applied to the current year's adjusted taxable
value generates the same Ad Valorem tax revenue as the prior year.
S
SAVE OUR HOMES: A voter approved amendment to the Florida Constitution which limits the
size of the annual increase in the assessed value of owner occupied residential properties which
have homestead status. Increases in the annual assessment of homesteaded property shall not
exceed the lower of either 1) three percent (3%) of the assessment of the prior year or 2) the
percent increase in the Consumer Price Index for all urban consumers in the United States.
SPECIAL ASSESSMENT: A fee levied on certain properties to defray all or part of the cost of a
specific capital improvement or service deemed to benefit those properties. The value of the
property is not considered when calculating a non -ad valorem assessment. Instead, the cost of
the facility or the service is allocated proportionately to the benefited properties in a defined
area. It is sometimes referred to as a Non -Ad Valorem Assessment. Generally, this is collected
by the Tax Collector's Office on the annual consolidated tax bill like ad -valorem taxes.
STATUTE: A written law enacted by a duly organized and constituted legislative body. Citations
are often followed by "F.S." to indicate Florida Statute.
SWA: Solid Waste Authority of Palm Beach County.
T
TANGIBLE PERSONAL PROPERTY: Non -real estate property, excluding motor vehicles, inventory
and household goods, that is owned by business enterprises and subject to ad valorem
taxation. Constitutional Amendment 1 provides that the first $25,000 of tangible personable
property is exempt, from ad valorem taxes starting with fiscal year 2009. It also imposes a 10%
cap on annual increases in tangible property valuation.
TAXABLE VALUATION: The value used for computing ad valorem taxes levied against property.
Taxable value is the assessed value less any exclusions, differentials, exemptions and credits
allowed by law.
[1021
The Village of Tequesta Proposed Budget 1
TRUTH IN MILLAGE LAW (TRIM): Florida law enacted in 1980 which changed the budget
process for local taxing governments. It was designed to keep the public informed about the
taxing intentions of various taxing authorities (Section 200.065, F.S.).
TRUST FUND: A fund used to account for assets held by the Village in a trustee capacity for
individuals, other governments or other funds, such as Pension Funds.
U
UNINCORPORATED AREA: The portion of the County not within the boundaries of any
municipalities.
UTILITY TAXES: a tax levied on utility bills, to be paid by the user of the utility services. It is
similar to a sales tax, except it only applies to utility bills and not to any other purchases.
[1031
Tab Three