Item G1 G.1
t, BOARD OF COUNTY COMMISSIONERS
County of Monroe Mayor Sylvia Murphy,District 5
The Florida Keys l'U � � Mayor Pro Tern Danny Kolhage,District 1
�pw° Michelle Coldiron,District 2
Heather Carruthers,District 3
David Rice,District 4
County Commission Meeting
May 8, 2019
Agenda Item Number: G.1
Agenda Item Summary #5536
BULK ITEM: No DEPARTMENT: Budget and Finance
TIME APPROXIMATE: STAFF CONTACT: Christine Limbert(305) 292-3470
N/A
AGENDA ITEM WORDING: Presentation, discussion, and direction of the Fiscal Year 2020
Preliminary Budget.
ITEM BACKGROUND:
PREVIOUS RELEVANT BOCC ACTION:
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: N/A
DOCUMENTATION:
FINANCIAL IMPACT:
Effective Date:
Expiration Date:
Total Dollar Value of Contract:
Total Cost to County:
Current Year Portion:
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: If yes, amount:
Packet Pg.431
G.1
Grant:
County Match:
Insurance Required:
Additional Details:
REVIEWED BY:
Kathy Peters Completed 05/01/2019 11:28 AM
Board of County Commissioners Pending 05/08/2019 10:00 AM
Packet Pg.432
Fiscal Year 2020
Monroe CountyBudget Discussion
Roman Gastesi, County Administrator
Tina Boan, Budget Director
May 8, 2019
Harvey Government Center
Key West, FL
FY20 Budget Process
• May 8th Today — Draft Budget Presentation and
Discussion
• June 15t — Deadline for Budget Submission for
Constitutional Officers
• July 1st — Property Appraiser Certifies Property
Values
• July 9th — Proposed Budget Delivered to BOCC
• July 22nd — Special Budget Meeting, in Marathon,
BOCC Certifies the Proposed Millage Rate to
Property Appraiser; the rate that goes out on the
tax bill (TRIM )
FY20 Budget Process
• September 5th — First Public Hearing
— Adoption of Tentative Millage Rate and Tentative
Budget
• Murray E. Nelson Government Center, Key Largo
• September 10th — Special Budget Meeting
— BOCC Discussion Direction
• Marathon Government Center, Marathon
• September 20th — Final Public Hearing
— Adoption of Final Millage Rate and Final Budget
• Harvey Government Center, Key West
ResidentialReal Estate
$1,200,000 — $1,200.000
$1,000,000 ®avers g price sale S989,745
— $1,000.000
—Linear(average sale price)
$912.239
S'896.3.19
0
e S861 153 $857,5'4
5820.890'
S790.5
$800,000 $ I S800.000
S707.216 S727.366
S673,541
_e S652.292
S631.374
$600,000 - S565,984 S572,557 $600,000
S539.893 -e-5532,059-°-
S409,256
$400,000 S366.7 2 713-e- — $400,000
S309,864 e
"289.133
0
$200,000 — $200,000
S. ---— — S-
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Monroe County Property Appraiser
County-Wide Taxa e PropertyVa ues
35.0
30.0 $ 7.7
$26.3 $26.5
$24.9
25.0 $23.0
$22.3 $21.6
20.0 6 $18.7 $19.1 $20.2
0
m 15.0
c
10.0
5.0 ----
0.0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Estimate
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Change over -7.6% -14.9% -12.5% -5.2% 0.9% 2.4% 5.5% 6.8% 6.6% 8.2% 6.2% 4.5%
Previous Year
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 +/-
Change
2017 Change 2018 Change 2019 Prior Year Change from 17
October 267,788.28 0.8% 213,972.89 -20.1% 267,308.81 53,335.92 24.9% -0.2%
November 318,582.67 -0.2% 252,580.02 -20.7% 338,484.44 85,904.42 34.0% 6.2%
December 409,399.53 2.9% 330,269.30 -19.3% 446,468.12 116,198.82 35.2% 9.1%
January 451,378.22 0.2% 377,675.27 -16.3% 486,395.98 108,720.71 28.8% 7.8%
February 505,970.80 -0.6% 451,634.11 -10.7% 555,930.40 104,296.29 23.1% 9.9%
March 583,611.14 -3.2% 528,775.51 -9.4%
April 479,271.22 14.6% 400,173.13 -16.5%
May 375,293.33 4.8% 325,037.76 -13.4%
June 354,437.57 5.2% 345,120.33 -2.6%
July 425,147.65 5.5% 373,606.50 -12.1%
August 291,358.77 -0.7% 299,898.52 2.9%
September 102,733.41 -54.3% 196,716.46 91.5%
Total 4,564,972.59 4,095,459.80 2,094,587.75 468,456.16 28.8% 7.2%
%inc/dec prior yr -0.3% -10.3%
YTD Actual
Fiscal Year Oct-Feb
2019 2,094,588
2018 1,626,132
$inc/dec 468,456
% inc/dec 28.8%
Major Revenues
General Fund Revenue + Plan, Build, Zoning Fund Revenues
Fund 001 + 148 - St Shared-Loc Govt 1/2 Tax
Current FY19 allocation is split 89%to the General Fund 001& 11%to the Plan, Build, Zoning Fund 148.
YTD +/-
Change
2017 Change 2018 Change 2019 Prior Year Change from 17
October 699,042.24 2.9% 456,729.44 -34.7% 723,841.23 267,111.79 58.5% 3.5%
November 834,340.60 16.2% 808,988.58 -3.0% 911,971.28 102,982.70 12.7% 9.3%
December 833,866.69 -5.1% 836,769.47 0.3% 902,248.47 65,479.00 7.8% 8.2%
January 1,030,124.91 2.1% 1,005,666.51 -2.4% 1,081,154.98 75,488.47 7.5% 5.0%
February 1,008,684.13 10.4% 964,514.11 -4.4% 1,087,973.08 123,458.97 12.8% 7.9%
March 1,051,330.83 0.6% 1,048,880.75 -0.2% 1,175,504.05 126,623.30 12.1% 11.8%
April 1,239,182.16 11.5% 1,205,796.38 -2.7%
May 1,093,188.95 -1.7% 1,028,414.60 -5.9%
June 955,578.90 13.4% 896,682.10 -6.2%
July 882,265.57 6.5% 971,761.75 10.1%
August 1,015,427.48 -13.1% 980,361.87 -3.5%
September 795,242.01 1.4% 839,101.89 5.5%
Total 001+148 11,438,274.47 11,043,667.45 5,882,693.09 761,144.23 14.9% 7.8%
inc/dec prior yr 3.1% -3.4%
FY19 Budget 12,106,227
Fund 001-89% 10,774,542
Fund 148-11% 1,331,685
YTD Actual
Fiscal Year Oct-Mar
2019 5,882,693
2018 5,121,549
$inc/dec 761,144
inc/dec 14.9%
FY20 Budget Considerations
• Maintain Current Service Levels
• Hurricane Expenditure Cost Share
• Pay Plan & Salary Adjustment Implementation
• Disaster Reserves Stabilization
— Replenishment/Restoration
• Meet Community Service Delivery Demands
— Workload Increase
• Fire, Life Safety & Property Protection — ISO Rating
Improvements
• Parks & Recreation
• Code Compliance Officers
• FEMA Maps
• Hurricane Recovery
Changes to Expect for July
• In -house Misdemeanor Probation Services
• Creation of Middle Keys Health Care Municipal
Service Taxing Unit
• Creation of Non-Ad Valorem Special
Assessments for Canal Restoration Project on
Canal #266
BOCC Operating Budgets
FY19 FY20
BOCC Operating Adopted Draft Change
BOCC Admin $2,044,291 $1,857,826 (186,465)
Housing Assist&Emp Fair Share $2,614,315 $3,481,929 867,614
HSAB&Non-HSAB $2,138,207 $2,180,602 42,395
BOCC Misc. $3,387,638 $3,161,856 (225,782)
County Administrator $2,195,647 $2,915,973 720,326
Employee Services $28,273,309 $33,210,434 4,937,125
Veteran's Affairs $765,245 $795,104 29,859
Airport Services $16,803,562 $18,421,304 1,617,742
Emergency Med. Air Transport $7,428,801 $7,623,282 194,481
Fire &Rescue/Emergency Mgmt. $16,643,096 $18,043,918 1,400,822
Budget&Finance $1,014,943 $1,108,310 93,367
Information Technology $3,002,937 $3,456,588 453,651
County Attorney $6,393,238 $6,862,639 469,401
Social Services/Welfare Services $3,823,014 $4,082,280 259,266
Library Services $3,912,094 $4,167,795 255,701
Building Department $6,070,104 $6,185,287 115,183
Planning and Environmental Res. $5,896,645 $6,643,985 747,340
Code Compliance $2,159,803 $2,360,715 200,912
Project Management $2,129,815 $2,734,497 604,682
Facilities Maintenance $8,080,433 $8,468,435 388,002
Engineering Services/Roads $1,635,499 $1,095,115 (540,384)
Solid Waste $22,334,488 $21,931,706 (402,782)
Fleet Management $3,057,004 $3,451,960 394,956
Corrections $2,577,405 $2,839,539 262,134
Parks&Recreation $2,364,607 $2,853,175 488,568
Medical Examiner $704,435 $695,917 (8,518)
Quasi-external Services $220,000 $230,000 10,000
TOTAL $157,670,575 $170,860,171 13,189,596
*Operating Budgets do not include Capital Funds
BOCC Operating Budgets
FY19 FY20
Adopted Draft Change Explanation of Change
BOCC Admin 2,044,291 1,857,826 -9.1%Consolidate Legislative Contracts(-$180K),decrease for travel,contractual,risk and software(-$53K),close captioning($20K)
Housing Assist&Emp Fair Share 2,614,315 3,481,929 33.2%Budget for SHIP based on availability of funds
HSAB&Non-HSAB 2,138,207 2,180,602 2.0% 2%increase for HSAB&Non-HSAB
BOCC Misc. 3,387,638 3,161,856 -6.7%Consolidate Legislative Contracts(-$151K),Tax Increment increase($40K),all Cost Share(-$55K),FIRM(-$50K)
Consolidate Legislative Contracts($300K),GAL FTE request($63K),salaries($153K),Sustainability-Projects($145K),Climate
County Administrator 2,195,647 2,915,973 32.8%Summit increase($40K)
Salaries($150K),Evergreen study complete(-$88K),software($90K),increase in medical claims($4.2M),increase costs for group
Employee Services 28,273,309 33,210,434 17.5%insurance contracts($95K),new open enrollment database vendor($56K)
Salaries($9K),increase for NACVSO Conference travel,satellite office and community service enhancement($10K),copiers
Veteran's Affairs 765,245 795,104 3.9% ($5K),other training and memberships($2K)
Salaries($224K),increase for other contractual($75K),MCSO contract estimate($79K),marketing services and air service
Airport Services 16,803,562 18,421,304 9.6%consultant($81K),increase in grant match($958K)
Emergency Med.Air Transport 7,428,801 7,623,282 2.6%Salaries($61K),Life Pak's,External Infusion Pump for IV's,Toughbook's($94K),vehicle replacement($44K)
Salaries($597K), Local Mitigation Strategy Survey and website hosting($28K),vehicle replacement($110K),4 FTE Requests
Fire&Rescue/Emergency Mgmt. 16,643,096 18,043,918 8.4%($405K),4 Fire Fighter FTE Requests for Sugarloaf($293K)
Budget&Finance 1,014,943 1,108,310 9.2%Salaries($93K)
Salaries($137K),enhancements from prior year(-$161K),increase software($117K),increase Marathon Studio Upgrade,
Information Technology 3,002,937 3,456,588 15.1% Disaster Recovery Capability,Firewall Replacement($85K),KW Connectivity($200K),Close Captioning($75K)
County Attorney 6,393,238 6,862,639 7.3%Salaries($268K),Risk Management Insurance increase($97K),Risk Management software($90K)
Salaries($215K),1 FTE Request($63K),vehicle maintenance($22K),housing($11K),copier($8K),transpiration radio($8K),prior
Social Services/Welfare Services 3,823,014 4,082,280 6.8%year vehicle replacement decreases(-$61K),Prior year decrease for OAA grant short falls(-$25K)
Library Services 3,912,094 4,167,795 6.5%Salaries($195K),color copiers for each library($20K),computer software($26K),furnishings($16K)
Salaries($242K),FTE's removed(-$202K), MT Causley and other Contractual(-$77K),vehicle maintenance($18K),vehicle
Building Department 6,070,104 6,185,287 1.9%replacement($42K),other office needs($30K),education funds based on availability of funds($65K)
Salaries($296K),vehicle replacement for Environmental Resources ($21K),education funds based on availability of funds
Planning and Environmental Res. 5,896,645 6,643,985 12.7% ($20K),FEMA Maps($225K),Comprehensive Plan Projects($200K)
Salaries($114K),two new FTE's ($76K),office needs due to number of magistrate hearings($56K),decrease for prior year
Code Compliance 2,159,803 2,360,715 9.3% unsafe structure(-$50K)
Project Management 2,129,815 2,734,497 28.4%Animal Shelters prior year request(-$86K),vehicle replacement($28K),MSTU's based on availability of funds($664K)
Facilities Maintenance 8,080,433 8,468,435 4.8%Salaries($44K),vehicle maintenance($140),vehicle replacement ($46K),other contract increases($184K)
Engineering Services/Roads 1,635,499 1,095,115 -33.0%Card Sound Road Salaries($25K),decrease for completion of All Electronic Toll(-$735K),mowers($163K)
Solid Waste 22,334,488 21,931,706 -1.8%Salaries($120K),aerobic septic($102K),decrease for debris estimate(-$227K),completion of transfer stations(-$300K)
Fleet Management 3,057,004 3,451,960 12.9%Salaries($64K),2 FTE requests($150K),Risk($23K),Accounting Service($20K),new GPS tracking system($125K)
Corrections 2,577,405 2,839,539 10.2%Salaries($25K),Risk($15K),other contract increases($215K),vehicle maintenance($8K)
Salaries($36K),2 FTE requests($191K),vehicle replacement ($35K),Sheriff Patrol for Bernstein($94K),Comprehensive Plan
Parks&Recreation 2,364,607 2,853,175 20.7% Projects($150K)
Medical Examiner 704,435 695,917 -1.2%Allocation of salary charges for Executive Administrator
Increasing revenues and expenses for an internal service which provides postage,phone and courier services that are
Quasi-external Services 220,000 230,000 4.5% reimbursed by outside agencies
FY20 Budget New FTE Requests
• General Fund
Guardian Ad Litem Executive Assistant - $63K ($45K Base Salary + Benefits)
Social Services Executive Assistant - $63K ($45K Base Salary + Benefits)
• Unincorporated Parks & Beaches Fund
Parks Director - $134K ($103K Base Salary + Benefits)
Parks Maintenance Worker 3 - $57K ($36K Base Salary + Benefits)
• Planning, Code Enforcement, Fire Marshal Fund
Fire Fleet Mechanic - $88K ($62K Base Salary + Benefits)
Fire Marshal - $121K ($77K Base Salary + Benefits)
Fire Inspector - $98K ($60K Base Salary + Benefits)
Fire Inspector - $98K ($60K Base Salary + Benefits)
• District 1 Fire & Ambulance Fund
4 Fire Fighters for Sugarloaf - $293K ($43K Base Salary + Benefits)
• Fleet Management Fund
Fleet Mechanic/Generator Tech - $75K ($51K Base Salary + Benefits)
Fleet Mechanic/Generator Tech - $75K ($51K Base Salary + Benefits)
14 New FTE requests
-1.5 Veteran's Transportation Coordinator & Driver— part-time positions
-2.0 Building Inspector positions
10.5 Total new positions
BOCC Performance- based Merit
Program
The Evergreen Report
✓ May 1, 2014 Evergreen presented the Final Report at a special BOCC meeting
V BOCC voted to implement the recommended new pay plan
V BOCC voted to bring 55 employees that fell below the minimum salary of the new
pay plan up to minimum; the cost to implement was $86,526
Organization ✓ July 18, 2016 The BOCC directed staff to conduct an updated Compensation
al Mission&
Values Study
Performance
Evaluation Strategic
Based Pay Priorities The recommendation on long term implementation pay plan is as follows:
Raise Incorporating
Performance
Based Pay Raises 1. Conduct a pay plan analysis every 3-5 years
Throughout the 2. Implement the new grades and salary ranges
Process Organization Key
Measures Intended 3. Each year on Oct 1, at a minimum adjust the pay plan min, mid, and
Outcomes max by Consumer Price Index (CPI) and simultaneously, authorize a cost
of living adjustment for all employees equal to CPI so employees at
Department
Objectives minimum d o not fall below minimum if pay grades are adjusted
annually.
4. Each year on Oct 1, at a minimum, continue the newly implemented
(2014) Performance Based Raise System
COLA & Merit Increase History
Budget Fiscal Year Non-Union Teamsters Firefighters CPI
BOCC Employees (Unadjusted
ending Dec of
prior budget
year)
FY10 Budget No change 4.1% COLA Pay Range Adjustment 0.1
FY11 & FY12 Budget No Change No Change 3% COLA & 3-5% Step 2.7/1.5
FY13 Budget -3% New Deduction FRS -3% New Deduction FRS -3% New Deduction FRS 3.0
3% for FRS law change 3% for FRS law change No Change
2% COLA 2% COLA
FY14 Budget No Change No Change No Change 1.7
FY15 Budget 0% - 5% 0% - 5% No Change 1.5
Performance— based/Merit Performance— based/Merit
(no COLA - average 3%) (no COLA - average 3%)
FY16 Budget 2% 2% 2% 0.8
Performance— based/Merit Performance—based/Merit Performance— based/Merit
(1.2%) (1.2%) (1.2%)
FY17 Budget 4% 4% 4% 0.7
Performance— based/Merit Performance— based/Merit Performance— based/Merit
(3.3%) (3.3%) (3.3%)
FY18 Budget 4% 4% 4% 2.1
Performance— based/Merit Performance— based/Merit Performance— based/Merit
(1.9%) (1.9%) (1.9%)
FY19 Budget 2.1% 2.1% 2.1% 2.1
COLA - No Performance— COLA - No Performance— COLA - No Performance—
based/Merit based/Merit based/Merit
South Florida Ad Valorem Tax Comparison FY20
Countywide Services-Property with $300,000 Taxable Value'
FY17 Tax Levy$2,547.27
(Millage Rate 8.4909)
MEIN
Q FY18 Tax Levy$2,547.27
(Millage Rate 8.4909) FY17 Tax Levy$1,434.45
FY19 Tax Levy$2,463.21 np
' (Millage Rate 4.7815)
(Millage Rate 8. 107) FY18 Tax Levy$1,434.45
N FY17 Tax Levy$1,215.18 °' (Millage Rate 4.7815)
OC (Millage Rate 4.0506) FY19 Tax Levy$1,434.45
FY18 Tax Levy$1,215.18 �� rL Palm Bed (Millage Rate 4.7815)
(Millage Rate 4.0506) Lee q
ja Y\
FY19 Tax Levy$1,215.18
(Millage Rate 4.0506)
FY17 Tax Levy$1,634.22
FY17 Tax Levy $1,069.35 , i Brow.ard (Millage Rate 5.4474)
® (Millage Rate 3.5645) Collier FY18 Tax Levy$1,638.69
iltFY18 Tax Levy$1,069.35 1110 _ (Millage Rate 5.4623)
(Millage Rate 3.5645) FY19 Tax Levy$1,643.76
FY19 Tax Levy$1,069.35 � (Millage Rate 5.4792)
(Millage Rate 3.5645) Dade
/� 0 rocL.
/�� FY17 Adopted Tax Levy $848.91 FY17 Tax Levy $1,400.07
!I'® (Millage Rate 2.8297) (Millage Rate 4.6669)
2018 Adopted Tax Levy $808.71 i ...,- -•. \ FY18 Tax Levy$1,400.07
(Millage Rate 2.6957) ' (Millage Rate 4.6669)
2019 Adopted Tax Levy $808.71 FY19 Tax Levy$1,400.07
(Millage Rate 2.6957) (Millage Rate 4.6669)
2020 Proposed Tax Levy $808.71
(Millage Rate 2.6957)
1 Source: Florida Department of Revenue: Comparison of Property Taxes Levied i`%
Ad valorem Taxes- FY20 Millage Levy
County-wide Services Budget
As assessed to an individual FY19 FY20
homeowner
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 iODO4 County-wide Millage Rate _ 2.6957 2.6957
Homeowner property tax levy $ 808.71 $ C808.71)
As levied for the County-wide Budget
County-wide
taxable property value (4.5% increase) $ 26,553,651,764 $ 27,748,566,093
X County-wide millage rate
Property Tax Levy 2.6957 2.6957
$ 71,580,679 $ 74,801,810
*The County-wide tax levy supports the General Fund, Fine &
Forfeiture Fund (BOCC and Elected Officials) along with Local $3 221 131
Health Department functions. ' '
Save Our e Homes-Count -wide MillaYg
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 FY19 FY20 Save our Homes
2019 1.90% 1.90% Cap 1.9%
2018 2.10% 2.10% 350,000.00 356,650.00 6,650.00
2017 2.10% 2.10% (50,000.00) (50,000.00)
2016 0.70% 0.70% 300,000.00 306,650.00 Taxable Value
2015 0.80% 0.80% Maximum Maximum Increase
2014 1.50% 1.50% 2.6957 2.6957 Increase Per Year Per month
2013 1.70% 1.70% 808.71 826.64 17.93 1.49
2012 3.00% 3.00%
2011 1.50% 1.50% FY19 FY20 Non-Homesteaded
2010 2.70% 2.70% Cap 10%
2009 0.10% 0.10% 350,000.00 385,000.00 35,000.00
2008 4.10% 3.00% _
350,000.00 385,000.00 Taxable Value
Maximum Increase Maximum Increase
2.6957 2.6957 PerYear Per month
943.50 1,037.84 94.35 7.86
Maintain Level of Service and Meet Community
Service Delivery Demands
• Establishment of Parks & Recreation Department
• 1 FTE for Parks Director
• 1 FTE for Maintenance Worker for Parks
• Comprehensive Plan Updates
• 4 FTE's for Fire Fighters for Sugarloaf Fire Station
• 1 FTE for Guardian Ad Litem
• 1 FTE for Social Services
• Closed Captioning
• Replace Key West AT&T/Comcast Connectivity with Keys Energy
• Pay Plan & Salary Adjustment Implementation
• Line of Credit Interest payment
• Reserves
• 2% COLA increase for HSAB
Ad Valorem Fund Summary
FY 20 Preliminar & FY 20 Pro . ections
Ad Valorem 001 101 141 147 148 149
Fund General Fine&Forf. Fire&EMS Uninc.Parks PIan,Build,Zone Road Patrol
ESTIMATED ENDING(9/30/19)FY19 FUND BALANCE 31,458,635 20,589,230 3,924,894
BUDGETED FY 20 REVENUES
Ad Valorem Taxes 21,882,031 51,454,196 13,475,509 2,339,966 0 4,726,530 93,878,232 BOCC
Other Revenue 20,854,239 11,111,500 806,000 566,000 8,112,307 3,950,663 1,465,680 Health Dept.
Transfers In(cost allocation&excess fees) 11,492,601 1,500,000 180,000 0 10,000 383,000 95,343,912 Total tax levy
Less 5%non-collection FL.Stat. (2,136,814) (3,128,285) (714,075) (145,298) (405,615) (237,727)
Total Budgeted FY20 Revenues 52,092,058 60,937,411 13,747,434 2,760,668 7,716,692 8,822,467
BUDGETED FY 20 EXPENDITURES 60,671,062 65,270,423 15,164,088 3,309,928 11,328,179 9,092,762
Budgeted Net Change Fund Balance (8,579,005) (4,333,012) (1,416,654) (549,260) (3,611,487) (270,296) (17,869,618)
BUDGETED ENDING(9/30/20)FY20 FUND BALANCE 22,879,631 16,256,218 2,508,240 368,450 5,000,900 1,453,827
3 months Operating Capital 16,317,606 3,793,220 827,482 4,982,045 1,614,747
(61,388) (1,284,980) (459,032 18,855 (160,921)
ESTIMATED FY 20 REVENUES
Ad Valorem Taxes 21,225,570 49,910,570 13,071,244 2,269,767 0 4,584,734 91,061,885 @ 97%
Other Revenue 19,936,527 10,555,925 765,700 562,700 7,706,692 3,753,130
Less City of
Transfers In(cost allocation&excess fees) 11,242,601 1,500,000 180,000 0 10,000 345,715 KW TIF
Approx.
Total Estimated FY20 Revenues 52,404,698 61,966,495 14,016,944 2,832,467 7,716,692 8,683,579 $1.1M
ESTIMATED FY 20 EXPENDITURES 52,923,650 61,450,871 14,023,890 2,916,533 10,183,327 8,963,411
Estimated Net Change Fund Balance (518,952) 515,624 (6,946) (84,066) (2,466,635) (279,832) (2,093,654)
ESTIMATED ENDING(9/30/20)FY20 FUND BALANCE 30,939,683 21,104,854 3,917,948 833,644 6,145,752 1,444,290
3 months Operating Capital 16,317,606 3,793,220 827,482 4,982,045 1,614,747
4,787,248 124,728 6,162 1,163,707 (170,457)
GeneralF
und , FunBalance
ud
General Operating Fund-Fund Balance
Audited FY18 Estimated FY19 FY20 Projected
Fund Balance Fund Balance Fund Balance 4,889,255 1 month Operating Capital
33,434,191 31,458,635 30,939,683 4.28 onths of reserves at 9/30/20
Operating Capital
4 Months 5 Months 6 Months
Projected FY20 Operating Budget 58,671,062 19,557,021 24,446,276 29,335,531
Hurricane/Disaster Reserve 2,000,000 10,000,000 10,000,000 10,000,000
Minimum Fund Balance 29,557,021 34,446,276 39,335,531
Fiscal Year 2020
Capital Plan Discussion
Major Revenues
One Cent Infrastructure Surtax Revenue
Fund 304 - Infrastructure Sales Tax
% % YTD +/- % %
Change
2017 Change 2018 Change 2019 Prior Year Change from 17
October 1,233,289.39 2.3% 772,618.19 -37.4% 1,281,785.62 509,167.43 65.9% 3.9%
November 1,491,046.98 5.3% 1,432,345.70 -3.9% 1,626,938.48 194,592.78 13.6% 9.1%
December 1,497,505.89 -5.9% 1,474,188.61 -1.6% 1,611,060.13 136,871.52 9.3% 7.6%
January 2,046,234.68 0.7% 2,000,568.29 -2.2% 2,212,017.23 211,448.94 10.6% 8.1%
February 1,825,694.64 2.4% 1,731,177.28 -5.2% 1,992,553.52 261,376.24 15.1% 9.1%
March 1,923,140.14 1.0% 1,905,394.86 -0.9% 2,146,758.69 241,363.83 12.7% 11.6%
April 2,468,135.42 4.8% 2,432,136.33 -1.5%
May 1,972,652.12 12.1% 1,871,390.44 -5.1%
June 1,726,607.09 5.2% 1,599,950.82 -7.3%
July 1,915,181.08 6.2% 1,992,764.20 4.1%
August 1,878,652.29 8.1% 1,848,603.69 -1.6%
September 1,532,789.64 -3.6% 1,744,184.51 13.8%
Total 21,510,929.36 20,805,322.92 10,871,113.67 1,554,820.74 16.7% 8.5%
%inc/dec prior yr 3.3% -3.3%
YTD Actual
Fiscal Year Oct-Mar
2019 10,871,114
2018 9,316,293
$inc/dec 1,554,821
% inc/dec 16.7%
Major Revenues
One Cent Infrastructure Surtax Revenue
Fund 304 - Infrastructure Sales Tax
% % YTD +/- % %
Change
2017 Change 2018 Change 2019 Prior Year Change from 17
October 1,233,289.39 2.3% 772,618.19 -37.4% 1,281,785.62 509,167.43 65.9% 3.9%
November 1,491,046.98 5.3% 1,432,345.70 -3.9% 1,626,938.48 194,592.78 13.6% 9.1%
December 1,497,505.89 -5.9% 1,474,188.61 -1.6% 1,611,060.13 136,871.52 9.3% 7.6%
January 2,046,234.68 0.7% 2,000,568.29 -2.2% 2,212,017.23 211,448.94 10.6% 8.1%
February 1,825,694.64 2.4% 1,731,177.28 -5.2% 1,992,553.52 261,376.24 15.1% 9.1%
March 1,923,140.14 1.0% 1,905,394.86 -0.9% 2,146,758.69 241,363.83 12.7% 11.6%
April 2,468,135.42 4.8% 2,432,136.33 -1.5% ,498
May 1,972,652.12 12.1% 1,871,390.44 -5.1% 2,012,105.16 ' 140,714.72 2.0%
June 1,726,607.09 5.2% 1,599,950.82 -7.3% 1,761,139.2.'i 161,188.41 10.1% 2.0%
July 1,915,181.08 6.2% 1,992,764.20 4.1% 1,953,484.70 : (39,2 79.50 2.0% 2.0%s
August 1,878,652.29 8.1% 1,848,603.69 -1.6% 1,916,225.34 ; 67,62.1.65 3.7% 2.0%,
September 1,532,789.64 -3.6% 1,744,184.51 13.8% 1.1563,445.43 (180,739.08) -1.0.4%` 2.0%
Total 21,510,929.36 20,805,322.92 22,595,011.66 1,789,688.74 8.6% 5.0%`
%i nc/dec prior yr 3.3% -3.3% i i i i j
23
Revenue Estimates
Year Amount %Change
1990 $ 6,527,762
1991 $ 7,763,175 19%
1992 $ 8,546,742 10%
1993 $ 10,027,642 17%
1994 $ 9,953,100 -1%
1995 $ 10,746,262 8%
1996 $ 11,521,699 7%
1997 $ 12,009,003 4%
1998 $ 13,217,392 10%
1999 $ 12,996,907 -2%
2000 $ 12,387,681 -5% FY 2019 State Estimates as of July 16, 2018
2001 $ 12,719,997 3%
2002 $ 12,645,370 -1% 1%Tax Rate - Default Formula
2003 $ 12,884,890 2% 1990—2018 Local Government Distribution Percentage Estimated Distribution
2004 $ 15,365,641 19% >-- Total
2005 $ 14,875,923 -3% $408,144,218 MONROE BOCC 60.873997 $ 24,046,674
2006 $ 15,201,005 2% Islamorada 6.083297 $ 2,403,047
2007 $ 15,200,286 0% Key Colony Beach 0.772192 $ 305,034
2008 $ 15,147,593 0%
2009 $ 13,702,434 10% Key West 23.653312 $ 9,343,620
2010 $ 14,085,030 3% Layton 0.178864 $ 70,655
2011 $ 15,374,998 9% Marathon 8.438338 $ 3,333,344
2012 $ 16,318,450 6% Countywide Total 100.000000 $ 39,502,373
2013 $ 17,172,359 5%
2014 $ 18,653,970 9%
2015 $ 20,161,451 8%
2016 $ 20,621,204 2%
2017 $ 21,510,929 4%
2018 $ 20,805,323 -3%
2019 $ 22,595,012 9%
2020 $ 21,850,000 -3%
2021 $ 22,135,000 1%
2022 $ 22,577,700 2%
2023 $ 23,029,254 2% Revenue Estimates are budgeted at 95%
2024 $ 23,489,839 2%
Total: $543,821,022
One Cent Infrastructure Sales Tax - Fund 304
Capital Projects FY20 Fiscal Year 2020
Canal Monitoring $236,790
Ocean Reef Building Purchase $600,000
Public Defender/Simonton Property $165,000
Higg's Beach (Atlantic Street Reallocation) $2,028,241
Big Pine Swimming Hole $410,096
Key Largo Hydrants $150,000
Road Paving Backlog $250,000
Stock Island II $1,139,025
1st Street/Bertha $479,500
Kohen Sub Division $228,000
Admin Costs Engineering $1,640,686
Transfers to Grant Fund (125) FY20 Fund 314 Projects $20,000
-Marathon Library
Transfers to 314 -Cudjoe/Summerland Fire Station $13,000,000
Debt Service 2016 Revenue Bond -Plantation KeyEnabl Jail& Pje Courthouses $118,754
-Plantation Key Enabling Projects ,
Debt Service Cudjoe Reg $3,496,227
Debt Service 2014 Revenue Bond $4,281,292 510,021,273
Key Largo ILA $2,125,000
Cost Allocation to General Fund $533,877
Hurricane Irma Cost Share $1,500,000
Total Appropriations $32,402,488
Debt Service Schedule
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
Debt Service 2020 2021 2022 2023 2024 2025-2033
CWSRF - Big Coppitt 682,000 682,000 682,000 682,000 682,000 3,750,970
CWSRF - Cudjoe 8,821,870 8,821,870 8,821,870 8,821,870 8,821,870 127,917,115
2014 Revenue Bond 4,281,292 4,281,376 4,279,336 4,280,172 4,283,766 0
KLWTD-Mayfield Loan 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,500,000
2016 Revenue Bond 1,118,754 1,119,135 1,124,263 1,119,053 1,118,674 10,802,781
Total Debt Service 17,028,916 17,029,381 17,032,469 17,028,095 17,031,310 144,970,866
Revenue Source
Big Coppitt Special Assessments 682,000 682,000 407,018 332,000 332,000 1,100,970
Infrastructure Sales Tax 10,021,273 14,404,673 14,682,743 14,753,387 14,756,602 124,538,735
Cudjoe Special Assessments 5,325,643 1,942,708 1,942,708 1,942,708 1,942,708 19,331,161
Debt Service Reserves 1,000,000
Total Revenue 17,028,916 17,029,381 17,032,469 17,028,095 17,031,310 144,970,866
Five -Year CIP - Capital
Fund PROJECTS FY 20 FY 21 FY 22 FY 23 FY 24
130-135 All Impact Fees(Fund 130-135) 3,594,826 1,319,746 1,438,129 1,556,376 1,670,063
310 Big Coppitt Waste Water 30,000 30,000 30,000 30,000 30,000
311 Duck Key Waste Water 35,000 35,000 35,000 35,000 35,000
312 Cudjoe Waste Water 2,719,979 218,922 218,922 218,922 218,922
316 Land Acquisition 3,224,909 1,300,000 1,300,000 1,400,000
304 Ocean Reef Bldg. Purchase 600,000
304 Public Defender/Simonton Property 165,000 1,505,000 505,000
304 Higgs Beach Street Relocate 2,028,241 100,000 2,500,000
304 Big Pine Swimming Hole 410,096
314 Marathon Library 3,520,385
304 Key Largo Fire District Hydrant Funding 150,000 150,000
314 Cudjoe Fire Station 539,300
314 PK Jail & Courthouse 16,605,771 8,798,696 100,000
314 PK Enabling Project 292,000
304 Road Paving Backlog 5 Yr. Plan 250,000 750,000 1,000,000 2,017,248 2,000,000
304 Stock Island II Project 1,139,025
304 I Bertha 479,500 445,500
304 Kohen Sub Division 228,000 553,750
304 Admin/Cost Allocation 1,640,686 1,200,000 1,200,000 1,200,000 1,208,480
102 Road & Bridge Operating/Projects 13,691,019 9,614,414 7,342,774 7,342,774 6,342,774
304 7 Mile Bridge Escrow 177,833 177,833 177,833
304 Canal Maintenance 236,790 33,720 - - -
306 Clerk of Court Network System 100,000
Total of CIP Projects 51,680,527 26,054,748 15,847,658 13,978,153 11,683,072
Five -Year CIP — Capital ProJjects
FIVE-YEAR CIP UPDATE- CAPITAL PROJECTS
Fund PROJECTS FY 20 FY 21 FY 22 FY 23 FY 24
Total of CIP Projects 51,680,527 26,054,748 15,847,658 13,978,153 11,683,072
TRANSFERS FOR DEBT
Fund PAYMENT OBLIGATIONS& PROJECTS
304 Transfer to 314- 2014 Revenue Bond 13,000,000 7,710,000
308 Transfer to 304
304 Transfer to 310 - - 274,982 350,000 350,000
304/310 Debt Service Big Coppit SRF 682,000 682,000 682,000 682,000 682,000
304 Debt Service 2016Revenue Bond 118,754 1,119,135 1,124,263 1,119,053 1,118,674
304/312 Debt Service Cudjoe Reg. SRF- Fund 312 8,821,870 8,821,870 8,821,870 8,821,870 8,821,870
304 Debt Service 2014 Revenue Bond Fund 314 4,281,292 4,281,376 4,279,336 4,280,172 4,283,766
304 Key Largo ILA 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000
102 Cost Allocation for Fund 102 408,919 408,919 408,919 408,919 408,919
304 Cost Allocation for Fund 304 533,877 533,877 533,877 533,877 533,877
304 Budgeted Transfer to Fund 125-NRCS 20,000 82,500
304 Hurricane IRMA cost share est. CAT c,d,e,g 1,500,000 500,000 500,000
304 Transfer to 316 1,300,000 1,300,000 1,400,000
All CIP Capital Reserves& Cash Balance 7,531,012 8,218,618 10,644,365 12,403,469 16,826,740
Total Appropriations 90,703,251 61,838,043 46,542,270 46,102,513 46,833,918
Discussion