Item K2
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
ADD-ON
Meeting Date: June 20.2001
Division:
County Administrator
Bulk Item: Yes
No --X-
Department: County Administrator
AGENDA ITEM WORDING:
Discussion and approval of policies pertaining to non-ad valorem fund balances.
ITEM BACKGROUND:
At the budget meeting on June 12, 2001, the Board requested that the Administration agenda
discussion items on fund balances at their meetings on June 20 and June 21, 2001. Non-ad valorem
fund balances will be discussed on June 20 and ad valorem fund balances will be discussed on June 21.
PREVIOUS RELEVANT BOCC ACTION:
Same as above.
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATIONS:
Discussion and approval as directed by the Board of County Commissioners.
TOTAL COST:
-0-
BUDGETED: Yes
No
COST TO COUNTY: -0-
REVENUE PRODUCING: Yes
No
AMOUNTPERMONTH_ Year
APPROVED BY: County Arty _ OMB/Purchasing _ Risk Management_
DIVISION DIRECTOR APPROVAL:
~-2~
James L. Roberts
DOCUMENTATION:
Included X
To Follow_
Not Required_
DISPOSITION:
AGENDA ITEM # J - K2
Revised 2/27/01
Administrative Services Department
5100 College Road
Key West, FL 33040
(305) 292-4537
(-.--
OK'!~3~~~E
(305) 294-4641
BOARD OF COUNTY COMMISSIONERS
MAYOR George Neugent, District 2
Dixie M. Spehar, District 1
Charles "Sonny" McCoy, District 3
Mayor Pro Tern, Nora Williams, District 4
Murray E. Nelson" District 5
MEMORANDUM
Date:
June 19,2001
To:
Board of County Commissioners /" LA/'
J) 0. l) ~~r
Sheila A. Barker ~
Senior Director.. dministrative Services
From:
Subject:
Fund Balance Discussion
cc:
James L. Roberts
Danny Kolhage
The attached is a schedule showing fund-by-fund the Actual Fund Balance, Budget Fund
Balance and the Adopted Fund Balance for the approximately 50 funds we budget each year.
It also contains information on restrictions within the funds and staff recommendations for
budgeting Fund Balance in the future. This fund-by-fund discussion is scheduled to be an add-
on at the meetings on June 20 & 21.
1
Non Ad Valorem Funds - Fund Balance Discussion
Special Revenue Funds:
Affordable Housing
· This fund accounts for revenues and expenditures of various low income
housing programs
· State and federal requirements limit these funds.
Fund 100
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$133,553
$127,570
$121,296
$194,305
$205,199
Bud et-Fund Balance
$102,598
$102,598
$102,598
$150,000
$166,125
Staff Recommendation #1: OMB should continue to review fund balance figures submitted by the
Housing Authority.
Fund 102
Roads & Bridges
· Funded by Gas Taxes
· Funds can be used for transportation related purposes
· Timing influences the expenditures
· Limits of uses set by Florida Statutes.
· These funds cannot be commingled with other funds.
· $1,969,000 will be used for Marathon and Islamorada due to BOCC action
at the May meeting
· The seven year road plan includes over $17 million dollars in future
expenditures
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$14,093,624
$13,704,673
$14,154,601
$13,409,911
$13,185,202
Bud et-Fund Balance
$8,534,818
$8,879,633
$10,778,645
$10,140,460
$13,072,472
Staff Recommendation #2: Appropriate 70% of estimated Fund Balance.
Ado ted Bud et
$12,688,931
$13,250,108
$15,151,020
$15,035,335
$17,872,347
Fund 103
Law Library
· Funded by portion of court costs and fees collected by the County for court
related items and filing fees
. Uses of funds are limited by county ordinance
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$40,946
$30,939
$20,822
$32,004
$16,494
Bud et-Fund Balance
$16,500
$14,500
$10,000
$20,000
$14,000
Staff Recommendation #3: Appropriate 70% of estimated Fund Balance.
Funds 115 - 121
Tourist Development Council
. Funded by Bed Taxes
· Revenue must generally be used to promote tourism, to build convention
and tourist bureaus, and to finance beach improvements.
· Fund balance is impacted by spending levels and tax receipts.
· State Statutes and County Ordinances limit the uses of these funds
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October I, 1996
Actual Fund Balance
$13,038,557
$19,364,224
$18,894,184
$15,566,686
$11,511,938
Bud et-Fund Balance
$8,014,016
$6,696,289
$5,984,104
$5,777,208
$2,822,984
Ado ted Bud et
$17,854,500
$16,184,604
$14,149,937
$13,744,425
$10,631,633
Staff Recommendation #4: OMB should continue to review fund balance figures submitted by TDC.
Fund 125
Government Fund Type Grant
· Funded by Grants. Interest earned can be used (dependant upon grant) to
fund match.
October 1, 2000
October 1, 1999
October 1, 1998
. October 1, 1997
October 1, 1996
Actual Fund Balance
$2,215.352
$2,500,123
$3,089,346
$1,845,248
$1,378,607
Bud et-Fund Balance
$624,822
$624,822
$900,000
$600,000
$400,000
Staff Recommendation #5: Begin using $200,000 per year to Fund Grant Match. Allowing us to either
save ad valorem tax dollars or secure additional grants.
2
Funds 130-135
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Impact Fees
. Funded by permit revenue
. Limits of uses set by county ordinance
. Expenditures fluctuate due to timing to complete projects and eligibility of
projects submitted.
. $121,332 will be used for Marathon due to BOCC action at the May
meeting
. Fund Balance can be adjusted by spending more or charging lower fees.
. Actual Fund Balance
$9,799,634
$8,865,503
$9,139,688
$8,176,135
$8,790,579
Budget-Fund Balance
$7,837,876
$8,451,784
$6,754,890
$7,807,796
$8,419,984
Staff Recommendation #6: Appropriate 80-95% of Estimated Fund Balance as needed for approved
projects.
Fund 142
~\P
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Translator
. No longer taxing
· Approximate $200 remaining in fund at this time
Actual Fund Balance
$552.00
$18,448
$42,528
$37,098
$60,784
Bud et-Fund Balance
$0
$0
$40,000
$0
$40,000
Ado ted Budget
$0.00
$0.00
$40,000
$0.00
$40,000
Staff Recommendation #7: Begin process to close fund and taxing district as soon as the process of
selling off existing equipment is complete.
Fund 144
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Upper Keys Trauma Care District
. No longer taxing
· Fund Balance is residual from taxes previously collected
. Uees of funds are limited by county ordinance
. Interest on money funds operations
· $440,000 due to Islamorada may reduce this fund balance
Actual Fund Balance
$3,559,662
$3,779,926
$3,791,011
$3,785,535
$3,715,766
Bud et-Fund Balance
$2,399,236
$2,600,000
$2,700,000
$3,150,000
$3,300,000
Staff Recommendation #8: Appropriate 70% of estimated Fund Balance.
3
Fund 150
/
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
911 Enhancement Fund
· Funded from charge to phone user. (Approximately 50 cents per month)
· Money can be used to fund 911 program and provide enhancements to
system
· Fund Balance to decrease this year for payment of old year debts
Actual Fund Balance
$528,666
$316,309
$704,612
$573,887
$444,827
Bud et-Fund Balance
$210,558
$237,643
$560,000
$487,691
$430,870
Staff Recommendation #9: Money must stay in fund. Budgeted fund balance should be adequate to
support all planned appropriations.
Fund 153
/
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Local Housing Assistance Trust Fund
. State Shared Revenue for Housing
. These funds are limited by state requirements.
Actual Fund Balance
$1,341,617
$1,111,436
$529,230
$497,886
$228,490
Bud et-Fund Balance
$604,700
$779,122
$270,250
$226,539
$177,826
Staff Recommendation #10: OMB should continue to review fund balance figures submitted by the
Housing Authority.
Fun7
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Cudjoe Gardens Municipal
. Special Taxing District
. Project complete
. Uses of flmds are limited by County Ordinance
Actual Fund Balance
$i1,716
$16,590
$200,477
$195,120
$195,821
Bud et-Fund Balance
$0
$0
$162,120
$195,000
$350,000
Staff Recommendation #11: Begin process of closing out this fund in accordance with county
ordinance.
4
Fund 157
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Boating Improvement Funds
. Funded by State Grants
. Uses of these funds are limited by Florida Statute.
· Used for Channel Markers, removal of derelict vessels. Fund Balance is
function of timing
Actual Fund Balance
$422,040
$474,347
$422,331
$0.00
$0.00
Bud et-Fund Balance
$275,000
$350,000
$350,000
$0.00
$0.00.
Staff Recommendation #12: Appropriate 70% of estimated Fund Balance.
Fund 158
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Misc. Special Revenue Fund
· Fund 158 was established to track very specific revenue streams. It comes
from multiple sources. The building permit piece is for educational uses,
2/3 ofthe handicap fines are designated for specific uses. The fund was
established so these highly restricted revenue sources wouldn't be co-
mingled in other funds.
Actual Fund Balance
$1,106,714
$848,612
$10,181
$0.00
$0.00
Bud et-Fund Balance
$463,535
$473,088
$0.00
$0.00
$0.00
Staff Recommendation #13: Money must stay in fund. Budgeted fund balance should be adequate to
support all planned appropriations.
Fund 159
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Florida Keys Marina - Marathon
· Funded from Fund 304 Infrastructure
Actual Fund Balance
$142,062
$55,923
$0
$0
$0
Bud et-Fund Balance
$0
$0
$0
$0
$0
Staff Recommendation #14: With the transfer of the marina to the City of Marathon, staff recommends
returning any remaining funds back to the 304 Infrastructure fund at the end of fiscal year 2001.
5
Debt Service Funds:
Fund 202
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Fund 203
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
1993 Refund Improvement Bonds (83)
. Fund Closed in FY 01
. Uses of these funds are limited by Florida Statutes and by bond
requirements.
Actual Fund Balance
$209,946
$200,577
$395,164
$359,281
$324,147
Bud et-Fund Balance
$0.00
$0.00
$400,000
$325,000
$300,000
1993 Refund Improvement Bonds (88)
. Funded from State Shared Revenue & Interest
· Uses ofthese funds are limited by Florida Statutes and by bond
requirements.
· Funding of Long-term debt for refunding 1988 A & B Improvement Bonds.
Actual Fund Balance
$575,836
$539,039
$513,298
$478,737
$461,214
Bud et-Fund Balance
$386,940
$390,000
$390,000
$450,000
$450,000
Staff Recommendation #15: Use General Fund to pay off this debt in fiscal year 02 (See Fund 001).
Fund 205
October 1,2000
October 1, 1999
October I, 1998
October 1, 1997
October 1, 1996
1991 Sales Tax Revenue Bonds
· Funded from Fund 304 Infrastructure (Jail)
· Uses of these funds are limited by Florida Statutes and by bond
requirements.
Actual Fund Balance
$216,855
($147,764)
$378,041
$4,151
$7,498,725
Bud et-Fund Balance
$140,000
$120,232
$350,000
$350,000
$3,000,000
Staff Recommendation #16: Appropriate 80% of estimated Fund Balance
6
Ado ted Bud et
$4,769,555
$4,810,600
$4,906,000
$5,100,000
$7,940,000
Fund 206
oJl cJv
Clerk's Revenue Note, Debt
· Funded from Transfer from General Fund and revenue raised by Clerk of
the Court
. Expenditure for Clerk's Network System
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$53,392
$37,643
$8,894
$0.00
$0.00
Bud et-Fund Balance
$0.00
$0.00
$2,000
$0.00
$0.00
Staff Recommendation #17: Continue to use budget supplied by the Clerk's office until paid off in
fiscal year 03.
Capital Project Funds:
Fund 304
wf~\..
One-Cent Infrastructure Sales Tax
· Funded by Sales Tax Raised
· Uses of these funds are limited by Florida Statute and County Ordinance
· Fund Balance is affected by the timing of projects
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$28,185,154
$28,619,508
$25,798,021
$19,346,273
$9,019,701
Bud et-Fund Balance
$18,780,267
$18,952,313
$23,116,248
$13,070,525
$5,293,878
Staff Recommendation #18: Appropriate 80% of estimated Fund Balance.
Fund 305
v\~
tJ
Ado ted Budget
$26,855,267
$29,218,687
$31,951,248
$22,760,525
$14,983,878
1991 Sales Tax Revenue Bonds
· Residual funds from bonds related to building the Stock Island Jail.
· Uses of funds are limited by Florida Statutes and bond requirements.
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$i,377,428
$1,315,136
$1,264,641
$1,223,431
$1,159,268
Bud et-Fund Balance
$1,316,000
$1,270,000
$1,200,000
$1,200,000
$1,500,000
Staff Recommendation #19: Begin process to transfer residual funds to 304 Infrastructure fund
7
Fund 306
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Clerk's Revenue Note - Capital
. Expenses for Clerk's Network System
Actual Fund Balance
$494,390
$471,452
$292,768
$0.00
$0.00
Bud et-Fund Balance
$0.00
$0.00
$75,000
$0.00
$0.00
Staff Recommendation #20: Continue to use budget supplied by the Clerk's office.
Enterprise Funds:
Fund 401
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Card Sound Bridge
. Funded by Tolls
· Uses of funds limited by county ordinance.
· Expenditures governed by timing of projects
· Fund Balance is maintained to fund major improvements or repair damage
after storms.
Actual Fund Balance
$7,075,882
$6,143,800
$5,274,221
$4,552,422
$3,943,733
Bud et-Fund Balance
$4,096,127
$4,100,000
$4,200,000
$4,200,000
$3,700,000
Staff Recommendation #21: Appropriate 70% of estimated Fund Balance.
Fund 403
October 1, 2000
October 1, 1999
. October 1, 1998
October 1, 1997
October 1, 1996
Ado ted Bud et
$5,046,127
$5,050,000
$5,150,000
$5,150,000
$4,555,000
Marathon Airport
· Funded by airport fees and leases
· These funds are restricted to support airport operations and maintenance.
· Fund balmce used for improvements and repairs at airport
Actual Fund Balance
$859,137
$1.095,783
$1,594,015
$1,154,231
$1,177,851
Bud et-Fund Balance
$528,434
$800,000
$800,000
$650,000
$650,000
Staff Recommendation #22: Appropriate 70% of estimated Fund Balance.
8
Ado ted Bud et
$1,006,284
$1,268,350
$1,396,600
$1,322,600
$1,284,030
Fund 404
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Key West Airport
. Funded by airport fees, leases, and passenger facility charges
. These funds are restricted to support airport operations and maintenance.
. Fund balance used for improvements and repairs at airport
Actual Fund Balance
$4,462,271
$4,251,199
$3,784,110
$3,511,609
$3,717,843
Bud et-Fund Balance
$2,594,142
$2,800,000
$3,200,000
$3,200,000
$3,200,000
Staff Recommendation #23: Appropriate 70% of estimated Fund Balance.
Fund 414 & 415
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Solid Waste Management
. Funded by fees charged home owners and businesses and franchise fees
. Funds are restricted in use to collection, disposal, and recycling of solid
waste and to debt service payments for solid waste facilities.
. Uses ofthese funds are restricted by Florida Statute
· Fund Balance used to keep fees as low as possible and to pay
approximately $l,OOO,OOO/year to pay down debt of $7 million. Expect
that fees will not cover costs this year and will eat into the fund balance
amount.
Actual Fund Balance
$10,822,306
$10,525,813
$11,046,655
$10,808,020
$10,534,760
Bud et-Fund Balance
$8,034,520
$8,100,000
$9,318,992
$9,250,088
$9,181,647
Staff Recommendation #24: Appropriate 70-85% of estimated Fund Balance.
9
Ado ted Bud et
$21,164,660
$21,475,328
$24,036,827
$24,107,288
$23,137,272
Internal Services Funds: Internal Service Funds are primarily double counted. The departments
pay a fee for these services and the expenses for the services show up in the internal service fund.
Workers' Compensation Fund
. Fees to department dependent on degree of risk faced by employee job
functions. Expenditures cover medical and indemnity of employees injured
on the job. Rate is only 84% of state rate.
. Fund Balance covers reserve for outstanding claims of approximately
$1,594,391 as provided by loss runs. Fund Balance also covers catastrophic
reserve of $300,000 as recommended by our Consultant.
Fund 501
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$2,948,506
$2,121,398
$1,734,009
$994,547
$713,209
Bud et-Fund Balance
$1,108,333
$866,730
$600,000
$300,000
$500,000
Ado ted Bud et
$3,781,063
$3,653,997
$3,150,110
$2,838,116
$1,869,628
Staff Recommendation #25: Appropriate 70% of estimated Fund Balance. Excess funds will be
needed in FY 02 to cover required reserves.
Group Insurance Fund
. Fees to department based on a calculated rate. The rate is to include all
administration, operational, and claims projects for the coming year.
. Fund Balance fluctuates based on claims experience. Last year our claims
were $500,000 greater than projected and the overage came from fund
balance. Since group insurance is a self-insured fund, we must maintain
reserves ofa minimum of30% of our claims projection (approximately $3
million).
Fund 502
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$4,596,482
$4,874,571
$3,931,542
$3,105,702
$3,247,557
Bud et-Fund Balance
$3,650,856
$3,428,438
$2,600,000
$2,000,000
$2,300,000
Staff Recommendation #26: Appropriate 70-75% of estimated Fund Balance.
10
Ado ted Bud et
$12,914,356
$12,781,359
$12,583,963
$11,671,006
$9,944,154
Fund 503
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Risk Management
· Revenue is raised from a departmental charge.
· Expenditures cover premiums paid for various policies covering Property,
Casualty, General Liability,
--
· Fund Balance includes a catastrophic reserve of $ 1,000,000 set up by
ordinance.
Actual Fund Balance
$1,959,702
$1,475,017
$1,353,015
$1,259,374
$1,228,574
Bud et-Fund Balance
$1,282,453
$1,291,469
$1,419,094
$1,306,973
$1,147,000
Staff Recommendation #27: Appropriate 70% of estimated Fund Balance.
Fund 504
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Fleet Management
· Revenue is raised from a user charge.
· This fund has had cash flow problems in the past.
· Retained earnings is negative due to transfers of vehicles back to
departments.
Actual Fund Balance
$761,063
$688,269
$667,310
$456,082
$243,098
Bud et-Fund Balance
$138,376
$150,000
$0.00
$25,000
$0.00
Staff Recommendation #28: Appropriate 70% of estimated Fund Balance (taking into account retained
earnings).
Fiduciary Funds:
Fund 600
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Law Enforcement Trust Fund
· Revenue is from fines
Actual Fund Balance
$319,441
$229,846
$478,795
$614,788
$94,652
Bud et-Fund Balance
$0
$0
$0
$0
$0
Staff Recommendation #29: Appropriate no fund balance. True up fund balance by resolution during
the year.
11
Fund 602
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Court Facilities Fees Trust Fund
· Revenue from court costs of any civil action, suit, or proceeding
· Fund Balance to be used for providing and maintaining facilities for the use
of the Circuit and County Court system.
Actual Fund Balance
$622,122
$539,806
$471,502
$407,875
$346,939
Bud et-Fund Balance
$400,000
$375,000
$375,000
$375,000
$325,000
Staff Recommendation #30: Appropriate 70% of estimated Fund Balance.
Fund 603
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Clerk's Drug Abuse Trust Fund
. Revenue from drug-abuse programs
· Fund Balance used for treatment and/or educational programs that meet the
standards ofthe Department of Health and Rehabilitative Services.
Actual Fund Balance
$30,330
$22,280
$12,232
$5,893
$35,845
Bud et-Fund Balance
$12,500
$2,500
$10,000
$4,000
$33,000
Staff Recommendation #31: Appropriate 70% of estimated Fund Balance.
12
Ad Valorem Funds - Fund Balance Discussion
Ad Valorem fund balances should not be used to increase recurring expenses or to drastically reduce
taxes. Using fund bal3!lces for these reasons will cause taxes to be increased in future years.
Fund 001 & 002
General Fund and Library Fund
· Funds can legally be commingled with Fund 101
· This Fund Balance is one of the most difficult to predict due to the large
number of programs that are run through the General Fund.
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$23,188,709
$23,524,232
$21,463,502
$18,260,476
$14,216,772
Bud et-Fund Balance
$14,319,792
$14,246,568
$12,777,941
$10,405,070
$5,811,578
Ado ted Bud et
$41,943,922
$42,091,825
$41,384,466
$40,273,104
$33,876,077
Staff Recommendation #32: Pay off Refunding Bonds Series - 1993(88) in fiscal year 2002 using
approximately $3.5 million in general fund fund balance. Start appropriating 75% ofthe fund balance
in the general fund instead of the historical 70% to make up for the loss of fund balance this creates
(This allows us to payoff debt without increasing taxes). This would result in approximately
$670,000 of additional revenue in the general fund beginning in fiscal year 2003.
Fund 101
Law Enforcement, Jail, Judicial
· Funds can legally be commingled with Funds 001 or 002
· Funds countywide policing
· Fund balance is not excessive and appears stable. This fund has been stable
in the past.
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$14,696,921
$14,654,244
$13,952,696
$13,266,606
$10,820,671
Bud et-Fund Balance
$8,925,000
$8,708,550
$8,400,000
$8,000,000
$4,652,500
Staff Recommendation #33: Appropriate 70-75% of estimated Fund Balance
13
Fire & Ambulance District 1
· Fund balance instability has created problems for this fund in the past.
. Uses of these funds are limited by Florida Statutes & County Ordinance
Fund 141
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
- Actual Fund Balance
$1,635,736
$1,698,882
$2,319,788
$1,893,943
$1,252,097
Bud et-Fund Balance
$1,249,952
$1,200,001
$2,200,217
$1,610,122
$950,000
Staff Recommendation #34: Appropriate 70% of estimated Fund Balance
Fund 146
Ado ted Bud et
$6,022,371
$6,464,842
$6,748,924
$6,491,487
$5,315,586
Key Largo Fire & Ambulance
· Although this fund has a very healthy fund balance, large swings in fund
balance have created problems for us in the past. This fund has a small tax
base; therefore, it has far less resources than other funds.
· Uses of these funds are limited by Florida Statutes & County Ordinance
October 1, 2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$626,131
$579,981
$512,830
$391,902
$341,880
Bud et-Fund Balance
$380,000
$299,999
$281,309
$219,455
$175,000
Staff Recommendation #35: Appropriate 70% of estimated Fund Balance
Fund 147
Unincorporated Parks & Beaches
· Funds can legally be commingled with Fund 148 or Fund 149
· More conservative estimates of fund balance have been used in the last
couple of years was due to the instability of future revenue streams caused
by the incorporation movements
· $80,000 will be used in Islamorada as stated in the interlocal agreement
approved by the BOCC in May.
October 1, 2000
October 1, 1999
. October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$1,240,234
$829,436
$751,636
$489,836
$405,392
Bud et-Fund Balance
$470,000
$460,749
$400,000
$130,000
$219,600
Staff Recommendation #36: Appropriate 70% of estimated Fund Balance. This change should occur
over a period of two years. Excess funds to be used in a combination of tax reduction and offset for
new programs, a more detailed recommendation will be provided to the BOCC for the July
workshops.
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Fund 148
General Purpose Municipal Service Taxing Unit
. Funds can legally be commingled with Fund 147 or Fund 149
. More conservative estimates of fund balance have been used in the last
couple of years was due to the instability of future revenue streams caused
by the incorporation movements
. $972,903 will be used in Marathon and Islamorada as stated in the interlocal
agreements approved by the BOCC in May.
October 1,2000
October 1, 1999
October 1, 1998
October 1, 1997
October 1, 1996
Actual Fund Balance
$8,684,130
$5,925,658
$4,872,730
$3,879,172
$2,946,468
Bud et-Fund Balance
$3,300,000
$3,451,276
$2,950,000
$2,050,000
$1,500,000
Staff Recommendation #37: Appropriate 70% of estimated Fund Balance. This change should occur
over a period of three years.. Excess funds to be used in a combination of tax reduction and offset for
new programs, a more detailed recommendation will be provided to the BOCC for the July
workshops.
Fund 149
Municipal Policing
. New fund in fiscal year 2001
· Funds can be commingled with Fund 147 or Fund 148
Staff Recommendation #38: Appropriate 70% of estimated Fund Balance
General Information
Staff Recommendation #39: After the Comprehensive Annual Financial Report is issued for fiscal
year 2001, OMB will report to the commission any funds where the variance between the estimated
fund balance and the actual fund balance is greater than 10% with recommendations for what to do
with these excess and/or shortfall in funds.
15