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Item C2
HURRISNE IRMA PK WIND GUSTS _ ESTIMATED B ED ON DAMAGE ASS ESSMENTS 9/10/2017 * PEAK WIND GUST ESTIMATE 3 c4 Big Pine Key 150 -160 mph p o a O si- Eastern Lower Keys , mot • y r o mo o, 0 4� ;� 0 40 0 0 0 o o q0 cc , i l c o \X., \ y y cc \*.6 \-3 o HIGHEST MEASURED WIND GUST A z Big Pine Key 12 0 mph RAWS - KEY DEER NWR O c. ISSUED AT 6:00 PM EDT ,oGoogie I>nl�': I<� Nc,•�A ll '� NravY Nc,A (,F r .thr ,c Florida Keys www.weather.gov /key September 30, k.,., ,,, WLA'I'I1LR FORECAST 01 FICI f facebook.com /NWSKeyWest Vir @NWSKeyWest 2017 FiscaI Year 2019 Monroe County Budget Discussion Roman Gastesi, County Administrator Tina Boan, Budget Director September 10, 2018 Harvey Government Center Key West, FL FY19 Budget Process • September 4t" — First Public Hearing — Adoption of Tentative Millage Rate and Tentative Budget • Murray E. Nelson Government Center, Key Largo • September 6th — Special Budget Meeting — BOCC Discussion Direction • Marathon Government Center, Marathon • September 10t" — Final Public Hearing — Adoption of Final Millage Rate and Final Budget • Harvey Government Center, Key West , . Fiscal Year 2019 Final Budget Changes From Tentative 9/4 FY19 FY19 Revenue Tentative Tentative Final Difference Ad Valorem Taxes $89,792,952 $89,792,952 $0 Delinquent Taxes $180,000 $180,000 $0 Local Option, Use & Fuel Taxes $66,918,147 $66,918,147 $0 Licenses, Permits & Impact Fees $8,560,635 $8,560,635 $0 Intergov. Rev. /Grants, PI LT, Shared Taxes $20,813,683 $20,813,683 $0 Charges for Services $80,190,589 $80,190,589 $0 Fines & Forfeitures $2,091,100 $2,091,100 $0 Miscellaneous $1,992,305 $1,992,305 $0 Interfund Transfers $24,043,646 $24,043,646 $0 Debt Proceeds $0 $0 $0 Fund Bal Fwd /Less 5% $116,875,828 $116,875,828 $0 Total Sources $411,458,885 $411,458,885 $0 FY19 FY19 Expenditure Tentative Tentative Final Difference B.O.C.C. Operating $157,658,075 $157,658,075 $0 Capital Projects, including Debt Service $55,847,105 $53,847,105 - $2,000,000 Sheriff $60,426,022 $60,426,022 $0 Tourist Development Council $52,390,697 $52,390,697 $0 Tax Collector $6,247,627 $6,247,627 $0 Judicial, State Attorney, Public Defender $3,706,138 $3,706,138 $0 Property Appraiser $4,500,025 $4,500,025 $0 Clerk of the Courts $4,981,776 $4,981,776 $0 Supervisor of Elections $1,769,612 $1,769,612 $0 Budget Transfers, Cash Balance & Reserves $63,931,808 $65,931,808 $2,000,000 Total Uses $411,458,885 $411,458,885 50 4 , . County -Wide Taxable Property Values vs. Ad Valorem Tax Levy $26.3 $22.3 $24.9 $ �.S kr 23.0 19.6 $20.2 $21.6 - Ma Ill • --.- • _ _IX IPP _ _ _ _ III II 111 - i 1 II I I • .- $77.1 . $803 ' $90.8 Taxable Value 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 % Change over Previous Year 7.6% - 14.9% - 12.5% - 5.2% 0.9% 2.4% 5.5% 6.8% 6.6% 8.2% 6.2% • • • • t • III • • FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Above / -below roll -back 7.78 -0.28 -3.79 -4.75 -2.692 2.67 2.75 - 0.03 - 0.33 3.84 5.86 + /( -) prior year tax levy 6,138,320 65,301 (3,135,683) (4,078,537) (2,877,412) 1,848,033 2,481,692 747,699 574,673 4,027,266 5,904,725 5 South Florida Ad Valorem Tax Comparison FY19 Countywide Services - Property with $300 Taxable Value' FY17 Tax Levy $2,547.27 :: (Millage Rate 8.4909) FY18 Tax Levy $2,547.27 fr:_ (Millage Rate 8.4909) 1 FY17 Tax Levy $1,434.45 (Millage Rate 4.7815) ` '`` FY17 Tax Levy $1,215.18 FY18 Tax Levy $1,434.45 (Millage Rate 4.0506) (Millage Rate 4.7815) FY18 Tax Lev $1,215.18 C Hendry B alm g�e�d�l (Millage Rate 4.0506) :.;'° F. FY17 Tax Levy $1,634.22 s FY17 Tax Levy $1,069.35 (Millage Rate 5.4474) a • (Millage Rate 3.5645) Collier F Y18 Tax Levy $1,638.69 FY18 Tax Levy $1,069.35 (Millage Rate 5.4623) (Millage Rate 3.5645) Dade == M. roe •.. ''' FY17 Tax Levy $848.91 r ?FY17 Tax Levy $1,400.07 , 0 , (Millage Rate 4.6669) (Millage Rate 2.8297) 2018 Adopted Tax Levy $808.71 FY18 Tax Levy $1,400.07 (Millage Rate 4.6669) (Millage Rate 2.6957) 2019 Proposed Tax Lev $808.71► (Millage Rate 2.6957) . 1 Source: Florida Department of Revenue: Comparison of Property Taxes Levied Ad Valorem Taxes- FY19 Millage Levy Countywide Services Budget As assessed to an individual homeowner FY18 FY19 Assessed value of home $ 350,000.00 $ 350,000.00 Homestead exemption $ (50,000.00) $ (50,000.00) Taxable value of home $ 300,000.00 $ 300,000.00 X f Countywide Millage Rate 2.6957 2.6957 Homeowner property tax levy $ ( 8o8.71)$ C808.7D As levied for the Countywide Budget EstimaL,, Countywide taxable property value $ 24,870,236,147 $ 26,459,840,512 X Countywide millage rate 2.6957 2.6957 Property Tax Levy $ 67,042,696 $ 71,327,792 *The Countywide tax levy supports the General Fund, Fine and $4,285,096 Forfeiture Fund and Local Health Department functions. Save Our Homes- County-wide MiIIage As provided in Section 193.155(1), F.S., beginning in 1995, or the year after the property receives homestead exemption, an annual increase in assessment shall not exceed the lower of the following: a. Three percent of the assessed value of the property for the prior year; or b. The percentage change in the Consumer Price Index (CPI) for all urban consumers. Year CPI Change Cap FY18 FY19 FY19 Save our Homes 2018 2.10% 2.10% Cap 2.1% 2017 2.10% 2.10% 2016 0.70% 0.70% 350,000.00 350,000.00 357,350.00 7,350.00 2015 0.80% 0.80% (50,000.00) (50,000.00) (50,000.00) 2014 1.50% 1.50% 2013 1.70% 1.70% 300,000.00 300,000.00 307,350.00 Taxable Value 2012 3.00% 3.00% 2.6957 2.6957 2.6957 Per Year Increase Per month 2011 1.50% 1.50% 808.71 808.71 828.52 19.81 1.65 2010 2.70% 2.70% 2009 0.10% 0.10% 2008 4.10% 3.00% FY18 FY19 FY19 Non - homesteaded 10% Cap 350,000.00 350,000.00 385,000.00 35,000.00 350,000.00 350,000.00 385,000.00 2.6957 2.6957 2.6957 Per Year Increase Per month 943.50 943.50 1,037.84 94.35 7.86 FY19 Budget New FTE Requests • Ad Valorem 1. Emergency Management Planner - $72K ($51K Base NIM Salary + Benefits) i \Wf y • Non Ad Valorem 2. Building Records Coordinator - $57K ($37K Base Salary + Benefits) 3. Building License Coordinator - $57K ($37K Base Salary + Benefits) Salary Discussion • Adding a Total 2.1% COLA increase for BOCC staff Est. Cost Per $1,000 of Taxable 2.1% COLA Millage Rate Value General Fund 247,823 0.0095 $ 0.01 Fine & Forfeiture Fund 46,605 0.0018 $ 0.002 Fire & Ambulance Fund 148,033 0.0255 $ 0.03 Unincorporated Parks & Beaches 12,540 0.0010 $ 0.001 Total Ad Valorem 455,001 Non Ad Valorem 373,160 Cost Taxable Value Fire & Ambulance Example 148,033 5,814,389,433 Formula (148,033/5,814,389,433) * 1,000 = 0.0255 . . Major Revenues General Fund Revenue Fund 001- Tourist Impact Tax One cent tax split is 50% for Monroe County and 50% for Land Authority. Below is the Monroe County portion. % % YTD +1- % 2016 Change 2017 Change 2018 Prior Year Change October 265,641.40 8.3% 267,788.28 0.8% 213,972.89 (53,815.39) -20.1% November 319,216.01 19.1% 318,582.67 -0.2% 252,580.02 (66,002.65) -20.7% December 398,052.11 7.6% 409,399.53 2.9% 330,269.30 (79,130.23) -19.3% January 450,312.94 3.7% 451,378.22 0.2% 377,675.27 (73,702.95) -16.3% February 509,201.13 5.4% 505,970.80 -0.6% 451,634.11 (54,336.69) -10.7% March 602,916.29 10.1% 583,611.14 -3.2% 528,775.51 (54,835.63) -9.4% April 418,131.83 0.9% 479,271.22 14.6% 400,173.13 (79,098.09) -16.5% May 357,976.20 4.0% 375,293.33 4.8% 325,037.76 (50,255.57) -13.4% June 336,801.97 5.2% 354,437.57 5.2% 345,120.33 (9,317.24) -2.6% July 402, 989.63 10.0% 425,147.65 5.5% August 293,324.70 -0.1% 291,358.77 -0.7% September 224,593.38 7.1% 102,733.41 -54.3% Total 4,579,157.59 4,564,972.59 3,225,238.32 (520,494.44) -13.9% %inc /dec prior yr 6.6% -0.3% 4,091,825 YTD Actual Fiscal Year Oct -June 2018 3,225,238 2017 3,745,733 $ inc /dec (520,494) % inc /dec -13.9% FY19 Budget 4,696,147 11 Major Revenues General Fund Revenue + Plan, Build, Zoning Fund Revenues Fund 001 + 148 - St Shared -Loc Govt 1/2 Tax Current FY18 allocation is split 89% to the General Fund 001 & 11% to the Plan, Build, Zoning Fund 148. YTD +/- 2016 Change 2017 Change 2018 Prior Year Change October 679,100.93 16.2% 699,042.24 2.9% 456,729.44 (242,312.80) -34.7% November 718,317.57 -9.9% 834,340.60 16.2% 808,988.58 (25,352.02) -3.0% December 878, 785.21 14.7% 833, 866.69 -5.1% 836, 769.47 2,902.78 0.3% January 1,009,355.36 1.8% 1,030,124.91 2.1% 1,005,666.51 (24,458.40) -2.4% February 913,648.46 -6.1% 1,008,684.13 10.4% 964,514.11 (44,170.02) -4.4% March 1,044,546.13 4.3% 1,051,330.83 0.6% 1,048,880.75 (2,450.08) -0.2% April 1,111,247.24 -2.9% 1,239,182.16 11.5% 1,205,796.38 (33,385.78) -2.7% May 1,112,272.01 19.0% 1,093,188.95 -1.7% 1,028,414.60 (64,774.35) -5.9% June 842,989.39 -3.1% 955,578.90 13.4% 896,682.10 (58,896.80) -6.2% July 828, 346.10 5.6% 882, 265.57 6.5% 971, 761.75 89, 496.18 10.1% August 1,168,803.27 26.5% 1,015,427.48 -13.1% September 784,614.98 -18.8% 795,242.01 1.4% Total 001 + 148 11,092,026.65 11,438,274.47 9,224,203.69 (403,401.29) -4.2% % inc /dec prior yr 3.3% 3.1% FY18 State Estimate - 100% 12,106,227 Fund 001- 89% 10, 774,542 Fund 148 -11% 1,331,685 YTD Actual Fiscal Year Oct -July 2018 9,224,204 2017 9,627,605 $ inc /dec (403,401) % inc /dec -4.2% FY19 Budget 12,106,227 Ad Valorem Fund Summary FY 19 Preliminary & FY 19 Projections Ad Valorem 001 101 141 147 148 149 Fund General Fine & Forf. Fire & EMS Uninc. Parks PIan,Build, Zone Road Patrol ESTIMATED ENDING (9/30/18) FY18 FUND BALANCE 30,438,597 19,449,322 3,651,724 705,449 7,256,695 1,888,619 BUDGETED FY 19 REVENUES Ad Valorem Taxes 19,830,140 50,454,196 12,714,447 2,249,934 0 4,544,235 89,792,952 Other Revenue 21,467,145 10,181,500 756,000 116,000 6,166,685 3,909,238 1,043,456 Health Dept. Transfers In (cost allocation & excess fees) 9,958,771 1,400,000 180,000 0 10,000 355,000 90,836,408 Less 5% non - collection FL. Stat. (2,064,864) (3,031,785) (673,522) (118,297) (308,334) (228,612) Total Budgeted FY19 Revenues 49,191,192 59,003,911 12,976,925 2,247,637 5,868,351 8,579,861 I BUDGETED FY 19 EXPENDITURES I 56,691,134 64,217,207 14,188,054 2,692,855 9,952,673 8,939,390 Budgeted Net Change Fund Balance (7 9471 (5,213,296) (1,211,129) (445,218) (4,084,322) (359,529) (18,813,436) BUDGETED ENDING (9/30/19) FY19 FUND BALANCE 22,938,655 14,236,026 2,440,595 260,231 3,172,373 1,529,090 3 months Operating Capital , 16,054,302 3,547,014 641,821 4,638,168 1,587,975 a85) ESTIMATED FY 19 REVENUES 1 Ad Valorem Taxes 18,838,633 48,436,028 12,205,869 2,159,937 0 4,317,023 85,957,490 Other Revenue 20,555,222 9,892,925 718,200 110,200 6,003,401 3,907,868 Transfers In (cost allocation & excess fees) 9,733,771 3,400,000 171,000 0 9,600 337,250 Approx. $1M Total Estimated FY19 Revenues 49,127,626 61,728,953 13,095,069 2,270,137 6,013,001 8,562,141 TIF Bahama Village and I ESTIMATED FY 19 EXPENDITURES I 49,243,530 64,217,207 13,167,545 2,311,594 8,496,094 8,772,239 Caroline St. Estimated Net Change Fund Balance (115,904' (2,488,254) (72,476) (41,457) (2,483,093) (210,098) (5,411,282) ESTIMATED ENDING (9/30/19) FY19 FUND BALANCE 30,322,693 16,961,068 3,579,248 663,992 4,773,602 1,678,521 3 months Operating Capital 16,054,302 3,547,014 641,821 4,638,168 1,587,975 906766 32,234 2.2,171 135,434 90,546 13 General Fund, Fund Balance General Operating Fund -Fund Balance Audited FY17 Estimated FY18 FY19 Projected Fund Balance Fund Balance Fund Balance 4,724,261.17 1 month Operating Capital 33,971,716 30,590,876 30,474,972 4.33 onths of reserves at 9/30/19 Operating Capital 4 Months 5 Months 6 Months Projected FY19 Operating Budget 56,691,134 18,897,045 23,621,306 28,345,567 Hurricane /Disaster Reserve 10,000,000 10,000,000 10,000,000 Minimum Fund Balance 28,897,045 33,621,306 38,345,567 Fiscal Year 2019 Capital Plan Discussion . . Major Revenues One Cent Infrastructure Surtax Revenue Fund 304 - Infrastructure Sales Tax % % YTD +/- % 2016 Change 2017 Change 2018 Prior Year Change October 1,205,304.23 11.6% 1,233,289.39 2.3% 772,618.19 (460,671.20) -37.4% November 1,415,337.45 -1.5% 1,491,046.98 5.3% 1,432,345.70 (58,701.28) -3.9% December 1,590,803.54 18.9% 1,497,505.89 -5.9% 1,474,188.61 (23,317.28) -1.6% January 2,032,455.14 3.1% 2,046,234.68 0.7% 2,000,568.29 (45,666.39) -2.2% February 1,783,159.21 0.3% 1,825,694.64 2.4% 1,731,177.28 (94,517.36) -5.2% March 1,904,018.36 3.7% 1,923,140.14 1.0% 1,905,394.86 (17,745.28) -0.9% April 2,355,051.28 2.6% 2,468,135.42 4.8% 2,432,136.33 (35,999.09) -1.5% May 1,759,183.23 5.0% 1,972,652.12 12.1% 1,871,390.44 (101,261.68) -5.1% June 1,641,060.41 4.5% 1,726,607.09 5.2% 1,599,950.82 (126,656.27) -7.3% July 1,803, 754.92 3.4% 1,915,181.08 6.2% 1, 992, 764.20 77, 583.12 4.1% August 1,737,324.15 -1.8% 1,878,652.29 8.1% September 1,590,224.11 -4.7% 1,532,789.64 -3.6% Total 20,817,676.03 21,510,929.36 17,212,534.72 (886,952.71) -4.9% % inc /dec prior yr 3.3% 3.3% OMB Estm 21,242,903 FY18 State Estimate 23,950,492 YTD Actual Fiscal Year Oct -July 2018 17,212,535 2017 18,099,487 $ inc /dec (886,953) % inc /dec -4.9% FY19 Budget 22,000,000 Revenue Estimates 1990 $6,527,762 1991 $7,763,175 19% 1992 $8,546,742 10% 1993 $10,027,642 17% FY 2019 State Estimates as of July 11, 2018 1994 $9,953,100 - 1% 1% Tax Rate - Default Formula 1995 $10,746,262 8% Local Government Distribution Percentage Estimated Distribution 1996 $11,521,699 7% MONROE BOCC 60.873997 $ 23,378,140 1997 $12,009,003 4% 1998 $13,217,392 10% Islamorada 6.083297 $ 2,336,238 1999 $12,996,907 - 2% Key Colony Beach 0.772192 $ 296,554 2000 $12,387,681 - 5% Key West 23.653312 $ 9,083,853 2001 $12,719,997 3% Layton 0.178864 $ 68,691 2002 $12,645,370 - 1% Marathon 8.438338 $ 3,240,672 2003 $12,884,890 2% 2004 $15,365,641 19% Countywide Total 100.000000 $ 38,404,148 2005 $14,875,923 -3% 2006 $15,201,005 2% 2007 $15,200,289 0% 2008 $15,147,593 0% 2009 $13,702,434 -10% 2010 $14,085,030 3% FY 2019 State Estimates as of July 16, 2018 2011 $15,374,998 9% 1% Tax Rate - Default Formula 2012 $16,318,450 6% 2013 $17,172,359 5% Local Government Distribution Percentage stimated Distribution 2014 $18,653,970 9% MONROE BOCC 60.87399 $ 24,046,674 2015 $20,161,451 8% Islamorada 6.083297 $ , 2016 $20,621,204 2% Key Colony Beach 0.772192 $ 305,034 2017 $21,510,929 4% Key West 23.653312 $ 9,343,620 2018 $21,242,903 - 1% Layton 0.178864 $ 70,655 2019 $20,900,000 - 2% 2020 $21,850,000 5% Marathon 8.438338 $ 3,333,344 2021 $22,135,000 1% Countywide Total 100.000000 $ 39,502,373 2022 $22,577,700 2% 2023 $23,029,254 2% Estimates From July 31 P resentation OMB Estimates for Fund 304 One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 20,328,039 14,445,754 3,335,636 2,369,468 Revenue 21,325, 07 21,096,059897,500 22,182,500 22,625,200 23,076,754 Expense 23,300,453 i ,4ss,sU2 27,779,785 33,292,618 23.,5.91.368 21,126,896 Estimated Ending Fund Balance 18,717,782 20,328,039 14,445,754 3,335,630 2,369,468 )4,319,326 Calculation One Cent Sales Tax 22,000,000 -5% (1,100,000) 20,900,000 Interest 50,000 -5% (2,500) 47,500 Transfer in From Fund 308 -2007 Revenue Bond 148,559 21,096,059 Revenues based on State Estimates for Fund 304 at 95% One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 18 717.782 22,076,320 17,140,876 6,692,598 5,945,570 Revenue 21,325,7 22,844,340 22 44,340 22,844,340 22,844,340 22,844,340 Expense 23,300,453 19,485,802 27,779,785 33,292,618 21,126,896 Estimated Ending Fund Balance 18,717,782 22,076,320 17,140,876 6,692,5 8 5,945,570 7,663,014 Calculation One Cent Sales Tax 24,046,675 -5% (1,202,334) 22,844,341 18 Tentative Budget Changes Jefferson Browne /Working Waterfront Removed One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 19,503,732 20,462,546 17,580,261 11,370,143 14,269,883 Revenue 21,325,707 21,096,059 21,897,500 22,182,500 22,625,200 23,076,754 Expense 22,514,503 20,137,245 24,779,785 28,392,618 1460 20,226,896 ■ Estimated Ending Fund Balance 19,503,732 20,462,546 17,580,261 11,370,14(3 14,269,883 %7,119,741 Revenues based on State Estimates for Fund 304 at 95% One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 19,503,732 22,210,827 20,275,383 14,727,105 17,845,985 Revenue 21,325,707 22,844,340 22,844,340 22,844,340 22,844,340 22,844,340 Expense 22,514,503 20,137,245 24,779,785 28,392,618 0 20,226,896 Estimated Ending Fund Balance 19,503,732 22,210,827 20,275,383 14,727,1 17,845,985 0,463,430 19 . . Final Proposed Budget Changes Jefferson Browne Removed /Working Waterfront Funded One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 19,503,732 20,462,546 14,580,261 5,370,143 6,769,883 Revenue 21,325,707 21,096,059 21,897,500 22,182,500 22,625,200 23,076,754 Expense 22,514,503 20,137,245 27,779,785 31,392,618 21,225.460 20,226,896 Estimated Ending Fund Balance 19,503,732 20,462,546 14,580,261 5,370,14 (,6,769,889,619,741 Revenues based on State Estimates for Fund 304 at 95% One Cent Infrastructure 2018 2019 2020 2021 2022 2023 Fund 304 Estimate Estimate Estimate Estimate Estimate Estimate Beginning Fund Balance 20,692,528 19,503,732 22,210,827 17,275,383 8,727,105 10,345,985 Revenue 21,325,707 22,844,340 22,844,340 22,844,340 22,844,340 22,844,340 Expense 22,514,503 20,137,245 27,779,785 31,392,618 ,225,4 20,226,896 Estimated Ending Fund Balance 19,503,732 22,210,827 17,275,383 8,727,1 10,345,985 2,963,430 20 Discussion