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Item B2Fiscal Year 2018 Monroe County Budget Discussion Roman Gastesi, County Administrator Tina Boan, Budget Director September 27, 2017 Harvey Government Center Key West, FL 1 FY18 Budget Process • September 27th, Today— Final Public Hearing — Adoption of Final Millage Rate and Final Budget • Harvey Government Center, Key West z Fiscal Year 2018 Budget Summary Revenue FY18 % of Proposed Total Ad Valorem Taxes $83,766,613 19% Delinquent Taxes $180,000 0% Local Option, Use & Fuel Taxes $67,164,157 15% Licenses, Permits & Impact Fees $8,281,956 2% Intergov. Rev. /Grants, PILT, Shared Taxes $19,431,000 4% Charges for Services $78,670,738 17% Fines & Forfeitures $1,845,100 0% Miscellaneous $2,013,392 0% Interfund Transfers $45,120,178 10% Debt Proceeds $12,455,276 3% Fund Bal Fwd /Less 5% $138,073,313 30% Total Sources $457,001,723 100% Expenditure FY18 % of Proposed Total B.O.C.C.Operating $157,217,352 34% Capital Projects, including Debt Service $74,674,450 16% Sheriff $58,852,678 13% Tourist Development Council $58,378,289 13% Tax Collector $5,763,322 1% Judicial, State Attorney, Public Defender $3,706,141 1% Property Appraiser $4,500,203 1% Clerk of the Courts $4,984,210 1% Supervisor of Elections $1,808,545 0% Budget Transfers, Cash Balance & Reserves $87,116,533 19% Total Uses $457,001,723 100% 3 Ad Valorem Fund Summary FY 18 Proposed & FY 18 Projections BUDGETED FY 18 REVENUES 11,898,696 Ad Valorem Taxes 17,281,599 Other Revenue 20,365,157 Transfers In (cost allocation & excess fees) 9,958,771 Less 5% non - collection FL. Stat. (1,882,338) Total Budgeted FY18 Revenues 45,723,189 BUDGETED FY 18 EXPENDITURES 54,471,468 Budgeted Net Change Fund Balance (8,748,279) BUDGETED ENDING (9/30/18) FY18 FUND BALANCE 84,931,683 3 months Operating Capital (629,710) ESTIMATED FY 18 REVENUES (296,600) Ad Valorem Taxes 16,763,151 Other Revenue 20,363,085 Transfers In (cost allocation & excess fees) 9,733,771 Total Estimated FY38 Revenues 46,860,007 ESTIMATED FY 18 EXPENDITURES 49,945,596 Estimated Net Change Fund Balance (3,085,589) ESTIMATED ENDING (9/30/18) FY18 FUND BALANCE 3 months Operating Capital (1,835,614) 48,597,184 11,898,696 1,882,131 0 4,107,003 83,766,613 9,353,450 695,500 114,000 5,932,000 3,789,886 1,165,070 Health Dept. 1,500,000 180,000 0 10,000 355,000 84,931,683 (2,897,532) (629,710) (99,807) (296,600) (206,275) 5,924,990 56,553,102 12,144,486 1,896,324 5,645,400 8,045,614 8,464,554 60,046,253 13,980,100 2,442,482 9,460,575 8,673,755 (3,493,151) (1,835,614) (546,158) (3,815,175) (628,141) (19,066,518) 27,912 (783,506) (435,183) (361,947) (537,695) 46,944,880 11,427,548 1,806,846 0 3,955,044 80,897,469 9,337,410 691,680 109,440 5,915,390 3,714,088 1,500,000 172,800 0 9,600 347,900 57,782,290 12,292,028 1,916,286 5,924,990 8,017,032 58,303,614 13,342,735 2,193,260 7,388,495 8,464,554 (521,324) (1,050,707) (276,974) (1,463,505) (447,522) (6,845,621) 2,999,739 1,401 (165,481) 1,989,723 (357,076) 4 General Fund., Fund Balance Projected September 2018 General Operating Fund -Fund Balance Audited FY16 Estimated FY17 FY18 Projected Fund Balance Fund Balance Fund Balance 4,539,Wonths onth Operating Capital 37,407,354 37,103,320 34,017,731 of reserves at 9/30/18 Projected FY18Operating Budget Hurricane /Disaster Reserve Minimum Fund Balance Operating Capital 4 Months 5 Months 54,471,468 18,157,156 22,696,445 157, 6 Months 27,235,734 1 38,235,734 61 Discussion