FY1999
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ISLAMQRADA
VILLAGE OF ISLANDS
Plantation Ke~ Windley Key
Upper Matecumbe Key and Lower Matecumbe Key
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FISCAL YEAR
October 1,1998 - September 30,1999
Operating and Capital
Budget
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Table of Contents
1. Village Government Introduction of Offidals
2. Organizational Chart
3. Budget Calendar
4. Message from the Village Manager
5. Comparison of Millage and Dollar Amount for: Unincorporated County vs.Village
6. Contributions Made by Village to all Taxing Authorities
7. Revenue Rationale
8. Budget Summary
9. Revenues of All Governmental Funds
10. Village Council
lI. Village Manager
12. Village Attorney
13. General Government
14. Building Inspection
15. Planning and Zoning
16. Public Works
17. Parks and Recreation
18. Fire / EMS
19. Enterprise Funds - Solid Waste
Enterprise Funds - PYH
20. Glossary " ~
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Isla_rnora~ta/_ Vill~g~,Qf I~I~_f}_d~,
VILLAGE COUNCIL
Ron Levy, Mayor
Frank Kulisky, \/ice Mayor'
Kyrn Collins, (~ouncilworn(1'
George Geisler, Councilman
Jim Moorv~v. (~ouncilrl'v:
CHARTER )FFICERS
James r:lIsholm
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tlff/aor ;'- !,Inagef
Wpiss Ser'ota Helfma; Pastoriz? i; ,(
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Voters of Islamorada,
Village of Islands
I Village Council I
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Village Manager I
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Parks anD Adminis- Plan
Recreation tration
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Organizational Chart
iIIage Attorney
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nlng and Ruilciino
7.oning ,1 ~sr ~ctic)[l
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PrOf" ': ty /\ppr(~isr~r [mwi(jc:
Fstir;1'1terj I\PP'rlisal of VillanI'
PrOf" ty I\ppr"ic;nr nrn\ll(k~'
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Millage Comparisoh
Unincorporated Monroe County and Is/amorada, Village of Is/ands
Unincorporated Unincorporated Unincorporated Village
Monroe County Monroe County Monroe County 98-99
97-98 98-99 98-99 Proposed
Actua I Rollback Proposed
COUNTYWIDE
SERVICES
Ubrary .2069 .1999 .2148 .2148
General Fund 1.6229 1. 5677 1.3701 1.3701
Fine & Forfeiture 3.9434 3.8092 3.9165 3.91651
Health Oinic .0357 .0345 .0340 .0340.
SUBTOTAL 5.8089 5.6113 5.5354 5.5354
MUNICIPAL
SERVICES
General Purpose 1.1177 1.0867 1.1731 0.0000
(MSTU) I
Fire District 1 1.0807 1,0512 1.2849 0.0000
SUBTOTAL 2.1984 2..1.379 2.4580 VILlAGE TAX 2.1300
TOTAL 8.0073 7.7492 7.9934 7.6654
Dollar Amount Tax Comparison
Unincorporated Monroe County and Islamorada, Village of Islands
For $100,000 Taxable Value
Unincorporated Unincorporated ViI/age
Monroe County Monroe County
97-98 98-99 98-99
Actual Tentative Proposed
Countywide
Servfces
Ubrary $ 21 $ 21 $ 21
General Fund 162 137 137
Fine & Forfeiture 394 392 392
Health Oinic 4 3 3
SIJBTOTAL. $580 $553 $553
Municipal
Services
General Purpose $112 $117 0
(MSTU)
Fire District 1 108 128 0
SUBTOTAL $220 $245 VILLAGE TAX $21..3
TOTAL $800 $799 $767
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Tax Contributions
Of Islamorada, Village of Islands
To All Taxing Authorities
MILLAGE CONTRIBUTION
COUN7Y wrDE:
UBRARY .2148 ~ $ 230,355
GENERAl FUND . 1.3701 1,469,320
FINE & FOREO..OSURE 3.9165 4,200,125
HEAlTH OlNIC d!!!b 36,462
SUBTOTAL 8414
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MUNrCIPAL:
VIUAGE TAX 2.1300 2,284,250
SUBTOTAL 7.6654 '*
SCHOOLS:
SCHOOlS - STATE LAW 4.8070 5,155,113
SCHOOLS - lOCAL BOARD 1.2660 f,357,681
SUBTOTAL 5.0730
OTHER TAX:
so. FlORIDA WATER .3090 331,377
DISTRICT
OKEECHOBEE BASIN .3130 335,667 I
GlADES PROJECT .1000 107,241
MON. co. MOSQUITO .6641 712,192
SUBTOTAL 1.3861
TOTAL 15.1245 49 $16,219,786
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TAXABLE VALUE OF ISLAMORADA, VILLAGE OF ISLANDS IS $1,072,418,622
PROPOSED MILLAGE RATE FOR FISCAL YEAR 1998-1998 IS 2.130
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REVENUE PROJECTION RATIONALE
Ad Valorem Taxes Chapter 166 of the Florida Statutes authorizes ad Valorem or
property taxes. The Florida Constitution limits local governments to a maximum of 10
mils. The total Village taxable value is $1,072,488,000. The Shown Millage Rate in the I
Budget Summary is 2.130. This replaces the combined 1997-1998 General Purpose MSTU
tax and Lower and Middle Keys Rre Rescue tax previously levied by Monroe County. This
will generate $2,170,037 at a 95% collection rate.
State Revenue Sharing The State Revenue Sharing proVides for r~venue from
32.4% of the tax on each pack of.. cigarettes, plus $.01 municip~1 gas tax, ptus 25% of the
state alternative fuel decal user fee. The Village's share of this fund is determined by a
complex formUla Involving State, County and Village population figures, property
valuations and sales tax collections. It Is estimated that the Village will receive $130,000
in state revenue sharing proceeds for Fiscal Year 1998-1999.
Municipal Cigarette Tax The Municipal Tax Is expected to generate $50,000 in j
revenues. The Munldpal Ogarette Tax is financed from tax proceeds per pack of
cigarettes sold in Florida. A population formula utilizing County and :Municipal figures is
utilized to determine the Village's share. The funds are distributed by the State of Florida
through the Municipal Financial Assistance Trust Fund.
Local Government Half-Cent Sales Tax Chapter 82-154, Florida Statute,
provides for funds generated by 9.6530/0 of the stateisales tax. The distribution formula is
based on population. The estimated revenue from this source is $750,000.
Local Government Infrastructure Tax s. 212.055 (2) F.S. proVides for funds
from $.01 sales tax. The estimated revenue from this source is $1,095,000. This is to be
used to finance, plan and construct infrastructure projects of which have a life to exceed
15 years such as: recreational facilities, parking, offices, roads, auditoriums, storm water,
police and fire facilities. It will expire on September 30, 2004.
Occupational Licenses - County Florida Statue 205.0536 directs the county to
remit the Village's share of occupational license tax revenues collected by the County. It
is estimated that this revenue source will generate $20,000.
BuildinQ Permits The Village Building Permit activity is expected to continue at
the same level as 1997-1998. The Building Permit revenue is estimated to be $180,000.
Franchise Fees - Cable Television/Solid Waste The franchise fee revenue is
generated from sales within the Village. It is estimated that $60,000 will be generated
from Cable Television Franchise Fees. Solid Waste will generate $188,400. Franchise fees
were previously paid to Monroe County.
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REVENUE PROJECITON RATIONALE
Alcoholic BeveraQes licenses Alcoholic Beverages Ucenses for the
manufacture, distribution and sale of alcoholic beverages generate funds which are
collected by the State of Florida. Every municipality is entitled to approximately 38% of
the proceeds of the tax collected within its municipal limits. It is estimated that the
Alcoholic Beverages Ucenses will generate $5,000 for the Fiscal Year 1998-1999.
Impact Fees Developments Impact infrastructure such as roads, Rre and parks.
The impact fees collected from development projects are utilized to fund capital
infrastructure Improvements necessary due to increased usage. This will generate
$62,000. The Village will also be receiving a percentage of the impact fees previously for
previous construction activity. This will generate $709,000.
Grants
Affairs.
The Village has received $55,000 from the Department of Community
j
JudQments and Fines - Court; and Local Ordinances The Village will receive
a portion of the revenues resulting from traffic enforcement activities. These are
estimated to generate $50,000.
Interest EaminQs Investment practices are maintained to allow 100% of idle
funds to be invested at all times. It Is estimated that interest earnings will be $100,000.
Local Option Gas Tax The Village is entitled to a share of this tax. The share
is determined by the lane miles roadway within the Village. Estimated revenue is
$373,000 for the Fiscal Year 1998-1999. This money is restricted to transportation
uses.
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lslalllorada, Village oCI.dands, FJorid~
Budeet: Recommended and Adopted
All Fund Types - Summary
For the Fiscal Year Ended September 30,1999
Od'ler Fna1<Xlg ~)
Openting TrIl'lSfers tom OIherFoocl.$
Operaring Tl3\S1ers kl Olher Funds - (493,964)
TcGl Ot<< Ftnancing Sou~Usesl (~93'~)1
E.Jco= d. Revenues a'ld 0Iher Sources /'
~LInOet} Expen<filU~ and Olher .
~~uses :z 504,708 _
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F~ B.1I3I'lCI!. Sep!ember 30. 1999 .', S./ '. $ ~
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Recoo-cne.lded AdopCed
Revenue
) Taxes 2.170,037
"'2.- Fl<W1dlise Fees 2~8, .coo
.:1 Licertses & Perrnls 190,000
~ Inlergovernmental 965,000
f" Fones & Forfeitures 60,000
(,. ~ .., 73.750
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SubcotaI 13,7'11.181
Total R_n . 13.727.187
Expenditures
Village Cotrd 23.000
VllaQe ~ 375,040 a;i) -
Vii. AJ1a:rey zse,eoo- 3 aD. _
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BuiIdsla 0e0a1menl 243.124
Pld: WOOcs 3<(6,008
PIa1ni1g & ltning 238.31 S
~ 931,124
Pats & Recreation 8,659,_
Stblota 12.na,515
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1.197,000
950,000
2. 147.000 675 .<XX>
2, 147,000 675.<XX>
187,000 (675.0c0)
Governmental Funds
Specitl ~ Funds
R.eCXll1lmetlded Adopted
2,222.000 .
112.000
2.334.00>
2,33.(,000
(275,000)
(275.00>1
(88..000)
s
611,097
52.3,097
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0etIl ~ Funds
Recommended M:x>ted
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675.0c0
675.0c0
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All Fund Types - Summary
For the Fiscal Year Ended September 30,1999
Revenue
Enterprise Funds
PIantaIIoa Yact\( Hartor Solid Wasle
R.ecloIM.euded Mopleel Recommended Adoo<ed
FYH ReYetlUe$
Solid Waste Rev9nve
2.000.000
912,674
Total RtwTlvet
Expenditures
PVH~
Sorld Wasle ElipendItuteS
T oU/ Expendllum
2.000.000
912.67<1
1.006.666
1.566.666
986,638
966.638
Excess d Revenues OterJ\'Unc:IeI)
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Oper;tfng Transfers from 0lhEw' F\Incl$
()perafjng T I'8nSfets to 0UIet FIRh
TOOl Ollw~ ~ses)
~ d Revenues a1d 0Iher ScllMtes
~ ~teS andOll\er
and Ocher Uses
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93.!l6(
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Nmd B8Ianoe, October 1. 1998
Fund Balance, Sep(entler 30. 1999
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I.damorada, VJlIae-e of Islauds, Florida
Budget: Recommended and Adopted
All Governmental Fund Types
For the Fiscal Year Ended September 30,1999
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Revenue
Genera Fund Special Re","ue Funds Deb! Service Fvnd$
Recommended Adopted Recommended Adopted R.ecommetlded Adopted
T o:et
Ulility T 8lC-8edriciry
u.1It)' Tax-TeIeco-n
U61ity Tax-WalH
Wily T zx-Gas
hJVlIoretnTax:es
Tota' Tint
2,170,037
2.170,037
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frandlia. ~
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R'and\i$e ~.SoI\d Was19
Tobl r'nndTiu Feet
60,000
188,400
2<48,400
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Lken.es .. Permits
~~ lkense
8<M1IlQ Perrrits
T olIll.iceMes I Permitw
10,000
180,000
190,000
~3
k1Urgo~rnentJl
One Cetlt 0p60n
L0c3 Opcion Cas Tax
Io4un. ~e T~
St ~ SlIMe
Alaltdc Bev. liceme
l.oc::8 HalCenl Tax:
Ox. Ucense County
In'C)aCt Fees- T ranspottation
~ Tourism Dev. Com.
Grants.OC.&. Planning
Imtlad Fees-Pns
1,095,000
373JXX>
50,000
85,000
5,000
750.000
20,000
.45.000
6eO,ooo
TotJllntergOvtmmentll
20,000
55.000
985,000 ~. .J(
29,000
2.222.000
Fines & Fomitures
V~oros
FlOeS- T tat'/ic
Totti FInes" Forfeitures
10,000
SO,lXXl . -rr ~
60,000 ~
~lIaneous
Interest Earnings
Short Term Interest Earnings
1tnC)aCt Feas-Parb
1/TtllI:l Fees-R0a:2s
Impad ~1tQ/EMS
50,000
23,750
5O,lXXl
Tout M1acal/eous
73,750 ~ _"
40 ,lXXl
2O,lXXl
2.000
112,000
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I.damorada, Village of IlIand" Florida
Budget: Recommended and Adopted
All Governmental Fund Types
For the Fiscal Year Ended September 30,1999
Revenue (Continued)
General Fuod Specia/ ReYenue Funds Deb( Service Funds
Rec:cnvnended AdOO(ed R8COOlmet1ded Adop(ed Recoovnencled Adopted
os~
/ -xL Revenue
9,500,000
&):),000
10,000,000
13,727.187
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IslaDlorada, Village of Islands, Florida
Bu.dget: RecommCJlded and Adopted
All Governmental Fund Types
For tbe Fiscal Year Ended Septcmb-er 30, 1999
Village Council tt ~
Genetal Fund ~ P.tYenut Funds Deb( SerYicG Fund$
Recoovnended AdopCed Reccmmended ~ed Recommanded Adopted
PetsonaI ~ses
Slipend 18,000
TotJI Personal Expenses 18,000
Opera6ng EJcpenses
T fiM!/ & Per Diem 5,000
TotII OpeCiWlg Expenses 5,000
Total Vlllag. Coundl 23,000
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Islamorada, ViUage oC Islands, Florida
Budget: Recommended and Adopted
AJl Governmental Fuud Types
For the Period Ended September 30, 1999
Village Manager ~~
Gena Fund . Special ReYenUl Fl6lds Oeol Seivice FIXldS
Recommended Adopted RecorMlItded Adopted Recommendod Adopted
Pefsonal &penses
RegIA II' $al1ries & Wage:s
Other ~a1es &. Wages
RCA Taxes
Reciruntant ConttUlufions
Group Nutance
Wortzr1' ~
Beneftts
T otlI P8c'$0nal &cpenses
235,000
5,000
18,000
23,500
2.000
7,5-40
20,(0)
311.0-40
Operaling ~
0l1ler ConIta:uaI
Tr~ & Per DIem
R.entll &. Leases
0peraI5ng SUppr....Vflhides
~,~ &. Traning
Total ()petafjng El:penses
35,000
15,000
5.000
2,000
7,000
64,(XX)
T otJl WI. Manager
315.040
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lslamorada, Village oCIslaa.ds, Florida
Budget: Recommended -and Adopted
All Governmental Fuud Types
For the Fi.&cal Year Ended Sepfember 30,1999
Village Attorney
General Fund Special Revtl)ue Funds DeI;lt Service F urd.$
Recommended Adopted Reconunended M:lp\ed Reo:lnmended AdopIed
Operaling ~
Legal SeMces
~ooo
T ~ ()pera(lng Expenses ,000
Total VIllage Attorney
3DO tk9Z>
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IsbmoradapVillage of Islands, Florid..
Budget: Recommended and Adopted
All Governmental FUlJd Types
For the Fiscal Year Ended Sepfember 30~ 1999
General Gov~rnment ty.~
General Fund . SpecieI ReYetllle Funds Deb! Servi:e FUOOs
RecommoIldod Adopted Recommended AcIopled Reeonvnended Adopted
~aI seMces
S.-ary A4uctment 50,000
TO(al Personal Services 50,000
~1l9~
OltIer Conhdull SeMces
Comm. & Freigt( SeI'tices
lMity SeMoes
Rental & Leaes-ViIage Ha'I
~U3bBity
~ Property
Nunr1ce Bond
Insuranc:e N.JfD
~ & J,Qnt Sorw:es
PrIrJdng &. Bind''''ll
~l Mall Ma:hine
~ AdjWies
0l'Ilc:e ~
c:lperang ~
Dues
Anancia SeMces
Pntession;l SeMc:es
Deb( Setri::e
Oltler CI.mnt Charges
T O(a/ Openrting &;lenses
~t3 & AId
lJlnty
TO(a1 GroIn\! & AId
6,000
10,000
6,000
32,000
29,600
5,000
5,000
5,000
2,OO:l
10,000
10,000
10,000
10,000
5.000
5,000
~;.,?(,15
10,000
"50.295
10,000
10,000
Conndua
Ccntrac:twIu,v EII~ 80,000
ToIaI Coo~ 80,000
Capit3 0vtI1ly
~Vtlage Hall 20,000
F urni\UI'&- Vilage Hal 40,000
Comp..~.Village Har 12,000
T0t3 Capital <M1ay 72,000
TolIl Gtntttf GoYemment
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675,000
675,000
662~ h~ .
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675.000
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Isla monda, VUlage of Irian d., Florida
Budget: Recommended and Adopted
All Governmental Fund Types
For the Fiscal Year Ended Sepfember 30,1999
Building Department t:.t ~A
General Fund Sped,l Rev.enue Funds Debl SeMce Funds
Rec:ommended AOOpled Rec:ommen<led Adopted Recoovne.nded ~
PersoNI SeMces
~ar Salaries & Wages 140,000
0veRTne 7,000
FICA 11,300
RehmGnI 14,000
~ 1,400
Wort;ers' Camp 4,524
Total PetSONI SeMces 178.224
~ing~
~af SeM::es 30,000
T I'Mi I Per Diem 2.000
Ccmtrulllc:ations & ~r1. Setv 3,600
Vehicle ~ 10,800
PrinCing &. ~ncing 5,000
ClperaMg Supp186-Vctljde 5,000
Dues & Putlacions 2,500
Cab & Maps 3,000
0tIic:e ScIPCiIeS 3,CXX>
TotII Opencjng Expenses 64,900
Total Bulldlftil 0epWntn1 243.124
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Islamorada, VUlacc of Isl.o.ds, Florida
BUd,et: Recommended and Adopted
All G9ver'llmental Fund Types
For the Fiscal Year Ended Sepfember 30,1999
Pencnal SeMoes
P.eg.;R SaI.1ea l wage$
~me
fICA.
Reliremen(
k\sur.wlOe
WO/'ken' C<lr'np
Total Personal SeMces
Operallng ~
PrdessIoNl Setv Camp ~
TIlMI & Per Diem
~ & Fit. Sefy
Pmtilg & BincSng
0peralIng Suppa
0Mce Suppr.es
Code Books
(Na & Putlnc:acions
T oca/ ()p<<a(Ing Expenses
T otII Pfannrng & lonrlI1
VY
.'l~.'t"".
109,000
3,000
8, .coo
to,900
1.000
3,018
135,316
7S,000
2,500
10,000
5,000
2,000
3.000
3.000
2.$X)
103,000
238.316
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Isl2morada, Vilbge or Islands,' Florida
Budget: Recommended .and Adopted
All Governmental Fund Types
For the Fiscal Year Ended Sepfember 30, 1999
Public Works Pf~
Pnon.aI SeMc:es
Regular S.arie3 & Wttge$ 100,000
~-&tra Help 15,lXXl
Oto1ime 1,OCfJ
FICA MOO
ReDl\m3n1 10,000
InsIXlnCe 1,000
Workets' Car4) 1.soe
Tolal Pnon" ScMc::e:3 137,306
~ Expenses
Vehide Lease
0tIIce Suppr'18S
~~
~
~'81ce Palhs
~ &. Bike Pal(h,
SIgns & SOfping
SIreet & T,* UglIts
EnvlorrInentll ~~ &. Waste
ProIus:sb d SetW:es
T ~ Opera(i\g &:penses
\c.... PubU.WO<b
O~ .
lilt" .
Gen<<aI Fund . Spec:iaI Revetlue Funds Deb( SetvIce Funds
R.ec:ommended Adopted' Recommended Adopted Recommende<I Adopted
3,600
3,000
2,100
200,000
200,000
450,000
200,000
10,000
65,000
200,000
72,000
1,197,000
348,008
1,197.000
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IslAU1orada, VUbge 'of Ialands, Florida
Budget: Recommended:.nd Adopted
All Governmental Fund Types
For tbe Fiscal Yea.r Ended Sepfember 30,1999
Parks & Recreation
PetsonaI Setvioln
Regular Salns & Wages 30,000
Ottw~ He/cl 1S,(XXJ
0YetIitne 500
FICA 3,500
Relftmenl 3,000
Insuranc:e ~
WMIf$' Comp 1.soa
TOl8I PersoNf SeMces ~,908
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General Fund Special Revenue Fund~ Deb! Service Funds
Reconmended AcIopCed . Recormnended Adopted RecooYnended AdooCed
()peta(jng Expencec
eWlnts
Vehic:\e lease
0peraIfng SupplIes Veh/de
lAaintenalce
Opetdng S~es 0IIic:e
l.ancSscapiog
$).000
3.800
2,100
40,000
5,000
TOlal Opera/iog ~
100,700
50,000
50,000
Capital OuIIay
MadlInery & Equip. T raler
land h:qulstIon
\.a'ld ~ab P'l'H
To(a/ Capi~ Outlay
5,000
9.500,/XX)
9,505,000
900,000
900,000
ToUt Parts l Recreation
9,659,606
950.000
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IslaDlorada, ViUare or IslaDds, Florida
Budget: Recommended and Adopted
All Governmental FUJ1d Types
For the Fiscal Year Ended Sepfcmber 30,1999
Fire/EMS
~ Fund Special ReveI:lue Funds Deb( Service Funds
R.ecxmIMlllded Adop(ed Recommended Mopled Recoovneoded Adopted
PeRorIaI SeMc:es
Regulat'SMa'ies & Wages
Chet1ime
FICA
RBIremenl
In$InlICe
WorteB' Comp
Vo/t.rlCeer~
Total Petsonal SoMa:,
OpetalClg Expenses
T r2WII Per Diem
~ I Freight Setvices
UliTilies
F ac:ility RentII
lAase-Vehlde
Inslnnce-VehIde
t.tai/'UnarQ~
t.taint~
LC.nten~icatioN
LC3ntlln:rc.&-Vehides
Opcraring Supp/Ie$,Vehide
0lIic:e Suppies
Opernng Supples
~. Dues. & Tf'3ining
Ullonns & Tumoul Gea"
OCher CuTent ~
Con~ EMS
100.000
1,000
6,900
9,000
1,200
4.524
70.000
192.62.
T0(3/ Operaung Expenses
2.000
1,700
8,500
13.200
4,400
12.000
7.000
2.000
3,000
10,500
3,500
1.200
2,000
11.500
8.000
1,000
610.000
701.500
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Capital <May
t.Cac:hilery & Equip 12. 000
Fdty ~aliotl 20,000
FlMTlilurv 5,000
Total Capi(aI Oullay 37,000
foal Fire/El(S 931,124
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Enterprise Funds
Bu~~~~~:~~iUda~de of Islands, Florida
All Pro . ~eD. e . and Adopted
For the Fiscli~::~~~ s1'Ypes
. epcember 30, 1999
fj...d ~ tf~ JJ-I.-- r s. h/.
ReYenues: PIantJCion Yacht Harbor 5o(1Cf Waste
Reccmmended Adopted
PYH Rrtenues Recorrrnended Adop(ed
00- CIwges ror SeYice (User RIe) 2.00>,000
~temt Inaxne 892,674
Total RevhlM 2.000,000 31,000
~Il.fes 912,674
f'Y}i Elq)enses
=- S:-Waste Hatler 1,666,666
TOCaI Elq)endlturec 939.656
1,666,666 46,982
=.s Revenues OYerI(Vnoor) 986.&38
Olher Fi\av:lng ~): 333,334 (73,~)
Opemng r,...,.. frcxn ()(her Funds
OperalIng TIa'lIfers 10 0Ihet FlI\ds 93.964
T cU OCher ~andno
Ca::ess ol ~ and Olher Soun::esI(Uses)
~ Sour\:Qs 93,964
and OCher lIIe$ ~ and 0Iher
333,33-4 20.000
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Glossary
~
Ad Valorem Tax. Property Taxes calculated as a percentage of the value of real
or personal property. The percentage Is expressed in mils (thousandths of dollars).
I
Appropriation. The authorization by the governing body to make payments or
incur obligations for specific purposes.
Assessed Value. A valuation set upon real estate by Monroe County Property
Appraiser as a basis for levying real property taxes (Ad Valorem Tax).
~
BudaetfoDeratinaJf A plan of financial operation embodying an estimate of
proposed expenditures for a given fiscal year and the proposed means of financing them
(revenue estimates). The term Is also used for the officially authorized expenditure
ceilings under which a government and Its departments operate.
Budaet Document fProaram and Financial Plan J. The official written statement
prepared by the Village staff reflecting the decisions made by the Council in their budget
deliberations.
Budaet Ordinance. The schedule of revenues and expenditures for the upcoming
fiscal year by fund which is adopted by the Village Council each year.
Budaet Schedule. This refers to the basis of accounting used to estimate
finandng sources and uses in the budget. This generally takes one of three forms: GAAP,
cash, or modified accrual.
~
Continaencv Account. An appropriation of money set aside for unexpected expenses,
The amount needed Is transferred by the Village Council to supplement the appropriate
expenditure account.
Contractual Services. Services rendered to a government by private firms,
individuals, or other governmental agencies. Examples Include utilities, rent, maintenance
agreements, and professional consulting services." 1~
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Glossary (continued)
County Wide Service Area. As the area wide government, Monroe has the
responsibility to prOvide certain services to all residents. The countyv./ide services include:
public health care, sheriff, jails, courts, mass transportation, environmental protection,
certain parks and public works activities, elections, tax collection, property appraisal and
social service programs. The revenue to pay for countywide services comes from property
and gas taxes, licenses, charges for services, Intergovernmental aid, fines and forfeitures,
transfers and interest earnings. I
~
Debt Service Fun~ Fund used to account for the accumulation of resburces for and
payment of general long term debt principal, interest, and related costs. The payment of
principal and Interest on borrowed funds.
~
EXDenditure. The cost of goods delivered or ~rvices provided, lnduding operating
expenses, capital outfays, and debt service. Includes such things as paying salaries of
police, fire and othersi.,purchasing materials, electridty, water and gas and making long-
term debt payments.
~
Final Bud'let Tenn used to describe revenues and expenditures for the upcoming
year beginning October 1st and ending September 30th.
Finandal Policv. A government's pOliCies With respect to revenues, spending, and debt
management as these relate to government services, programs and capital investments,
Fiscal policy provides an agreed-upon set of principals for the planning and programming
of government budgets and their funding.
Fiscal Year. The 12-month period to which the annual budget applies. The
Village's fiscal year begins on October 1st and ends on September 30th.
Franchisef A special priVilege granted by a government permitting the continuing use of
public property, such as city streets, and usually involving the elements of monopoly and
regulation. .
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Glossary (continued)
Franchise Fees. Fees levied by the Village In return for granting a privilege which
permits the continual use of public property such as city streets, and ~sually involving the
elements of monopoly and regulation.
Fund. An Independent fiscal and accounting entity with a self-balancing set of
accounts. Funds are established to attain certain objectives or to simply segregate
activities. Examples are the Refuse Collection and Recyding Fund and the Stormwater
Utility Fund.
Fund Balance. The excess of assets over liabilities for a fund. A negative fund
balance is sometime called a deficit. I
~
GAAP. Generally Accepted Accounting Prlndples. Uniform minimum standard for
finandal accounting and recording, encompassing the conventions, rules, and procedures
that define accepted accounting prlndples.
General Fund. The fund that is available for any legal authorized purpose and which
is therefore used to account for all revenues and all activities except those required to be
accounted for in another fund. Note: The General Fund Is used to finance the ordinary
operations of a governmental unit. The entity receives revenue from a specific source and
spends it on specific activities.
8
Infrastrocture. The physical assets of a government (e.g., streets, water, sewer,
public buildings, and parks).
Interaovemmental Revenue. Funds received from federal, state, and other
local governmental sources in the form of grants and shared revenues.
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Glossary (continued)
~
Mil of Tax. A rate of tax equal to $1 for each $1,000 of assessed property value.
So if your house has a taxable value of $50,000 and the mJllage rate Is 1, then you would
pay $50 in taxes, and If the millage rate Is 10, then you would pay $500 in taxes.
Millaqe Rate. One mil equals $1 of tax for each $1,000 of pro~rty value. The
mlllage rate is the total number of mils of tax assessed against this value.
~
ODeratinQ BudQet. The Village's finandal plan which. outlines proposed
expenditures for the coming fiscal year and estimates the revenues 'which will be used to
finance them.
Ordinance.
law.
A formal legislative enactment I;>y the Village Council of Islamorada, A
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Policv. A plan, course of act/on or guiding prindple, designed to set parameters for
decisions and actions.
Prooerty Tax Rate. A tax based on the value of the property. It is also called an
ad valorem tax. The tax Is determined by multiplying the taxable value of the property by
the millage rate, So if your house has a taxable value of $300,000 and the millage rate is
1, then you would pay $300 In taxes, and if the millage rate is 10, then you would pay
$3,000 in taxes.
~
Revenue. Money that the ~iIIage of Islamorada received from a variety of sources such
as property taxes, permits and fees, utility and sales taxes, charges for services, grants,
I
franchise fees and license fees that It uses to pay f9r service delivery and other items.
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Glossary (continued)
Rollback Millage Rate. The millage necessary to raise the same amount of Ad Valorem
tax revenue as the previous year exduding taxes from new construction. It represents the
millage rate level for no tax Increase.
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Special Assessment A compulsory levy made against certain properties to
defray part or all of the cost of a spedfic Improvement or service deemed to primarily
benefit those properties. All tax-exempt property In the affected area will also have to pay
the special assessment.
Sum/us. The use of the term "surplus'" In governmental accounting is generally
discourages because it creates a potential for misleading Inference. Undesignated fund
balance Is used Instead. The concept "net worth'" In commerdal accounting is comparable
to "fund balance'" in government accounting. That port/on of the' fund balance which is
not reserved for specific purposes Is called the undesignated fund balance: it is the true
"surplus".
~
Tax Base. Total assessed valuation of real property within the Village.
Tax Lew. The total amount to be raised by general property taxes for purpoSes
specified in the Tax Levy Ordinance.
Tax Rate. The amount of tax levied for each $1,000 of assessed valuation,
TRIM.
Truth In Millage (section 200.065, Aorida Statute).
~
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Undeslanated Fund Balance. That port/on of the fund balance available for use in
subsequent budgets. The term Is preferable over the commonly used and ill-defined
"surplus".
User Fee. Charges for specific services prdvidedlonly to those paying such charges.
Examples would be stormwater utility and refuse collection, disposal and recycling,
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Glossary (continued)
Utility Tax. Municipal charges levied by the Village on every Rurchase of a public
service within its corporate limits. Public service includes electricity, gas, fuel, oil, water,
and telephone service.
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